Word: mk
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...seemed primed for increased profits in 1994. Disaffected directors blamed Agee for withholding from them the true state of the company. Partisans of the deposed chairman blamed Clark and a coterie of anonymous Agee detractors for precipitating a panic among lenders and stockholders, who, along with present and former MK employees, have brought 19 suits against Agee and the board...
...believed that the Buy America movement, coupled with Morrison Knudsen's position as the only U.S.-owned manufacturer of railcars, would make the business highly profitable. "He did have a coherent plan," says someone close to the board. "It's just a very difficult business." Moreover, this source adds, MK directors were "hardly wilting-violet people . They repeatedly asked tough questions...
Clark, baited by the legions of Agee detractors and alarmed by the worsening financial condition of the company, then took control of the succession effort. By the time the board met in San Francisco on Feb. 9, MK's lenders had joined the chorus calling for Agee's ouster. Only one director, Chicago fund manager John Rogers, voted in Agee's favor...
...federal officials involved in arms procurement. In particular, the Government is studying the relationship between Unisys, Armtec and Congressman Bill Chappell Jr., a Florida Democrat ^ who is chairman of the House Appropriations Committee's subcommittee on defense. Chappell persuaded Armtec to locate in his district and supported the MK-92 radar system, which is built by Unisys with Armtec as a subcontractor...
These days Vagelos is pushing his researchers to come up with the next generation of wonder drugs. In the testing stages: another cholesterol- lowering drug that could prove more potent and longer lasting than Mevacor; an anti-ulcer medication that has shown a high degree of effectiveness; MK- 538, a drug that holds promise of aiding diabetes sufferers. Merck will soon launch large-scale clinical trials for MK-906, which in preliminary tests shrank swollen prostate glands without bad side effects, alleviating a problem that vexes millions of men over 40. Other teams are studying cures for cataracts, arthritis, cancer...