Word: mergerer
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More than 60% of the 170,000 people assigned to the new department will be involved in controlling the nation's borders. The idea, says Homeland Security Director Tom Ridge, is to present "one face at the border." It's long overdue. Such a merger was talked about as far back as Herbert Hoover's Administration, but the departments that control services like the Coast Guard (Transportation), Immigration and Naturalization (Justice) and Customs (Treasury) have jealously guarded their turf. Merging them will be a culture shock, as each has its traditions and ways of doing business...
...terms of cost cutting, those points are accumulating. HP has shuttered nine assembly plants, cut 12,500 jobs and "rationalized" its product offerings, reducing them to 65,000 from 85,000. Result: $650 million in savings since the merger, which helped HP offset losses in its divisions that make PCs and enterprise-computing gear. "I'm keeping my shares," says Ben Rosen, Compaq's former chairman and a large shareholder. "HP is going to get so lean that earnings surprises will be on the upside...
...1990s, especially since her chief lieutenant, Capellas, has departed. Admired for his tech knowledge and ability to get chummy with chief information officers, Capellas has skills that were supposed to complement Fiorina's--a part of the pitch both executives made to persuade shareholders to vote for the merger...
...appears, however, that they did not intend to work together for long beyond their goal of merging their firms. In HP's proxy fight to acquire Compaq, several institutional shareholders voted for the deal because of a recommendation by Institutional Shareholder Services, a proxy advisory firm that blessed the merger; it gave its approval partly on the assumption that "key managers from each company will assume important posts after the merger." Explains Patrick McGurn, general counsel for ISS: "We were left with the impression that we were getting two leaders for the price of one. There was never a time...
...enters her final months, D’Alessandro has already begun to follow a committee mandate that she involve families, administrators and school council members in brainstorming for a revised merger plan...