Word: olson
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Dates: during 1980-1989
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...starter, the airline last week flew some of the fanciest loops and passes ever seen in corporate aviation. After a pressurized seven-hour meeting of its board of directors, the 52-year-old firm announced that Chairman Richard Ferris, 50, had resigned and would be replaced by Frank Olson, 54, who is currently head of the company's Hertz rental-car subsidiary. At the same time, for-sale signs were tacked onto Hertz as well as the Westin and Hilton International hotel chains, whose 149 hostelries constituted the third branch of the firm. Management also said it would seriously consider...
Beginning on Friday June 5, the Allegis board conducted several emergency meetings through telephone conference calls. Then Ferris convened a 3 p.m. session last Tuesday at the Manhattan offices of Morgan Stanley, one of the airline's investment bankers. Among the 17 directors present were Ferris, Olson, former Secretary of Commerce Juanita Kreps, Chairman Richard Cooley of Seattle's Seafirst banking company, and Charles Luce, former chairman of New York City's Consolidated Edison power company. The directors were ready for decisive action, and before the meeting had even started, Luce told Chairman Ferris that...
...history, and the write- off will all but wipe out 1986 after-tax earnings, which had been expected to approach $2 billion. While one spokesman for the Communications Workers union accused the company of "mean and inappropriate" behavior for breaking the news during the holiday season, Chairman James Olson insisted that the belt tightening was necessary to counter growing competition in the communications industry. Said he: "This is no longer the old, stable monopoly business...
...been a revolutionary development for a company that once offered lifetime job security. Of the 27,400 jobs to be cut under the new plan, 10,900 are designated as management positions and 16,500 are nonmanagement jobs. "The pain will not be felt at just the bottom," Olson emphasized. "It will be painful all around." No division -- not even venerable Bell Laboratories -- will be spared. Since only about 30% to 40% of the employees targeted for termination have been informed, much of the work force remains in suspense...
...Landau '90 of Grays Hall and San Francisco, California; Jonathan S. Leff '90 of Pennypacker Hall and Atlanta, Georgia; Karen W. Levy '89 of Dudley House and Potomac, Maryland; Emily Mieras '90 of Canaday Hall and Lexington, Massachusetts; Teresa A. Mullin of Canaday Hall and Allentown, Pennsylvania; Kristin L. Olson '88 of Winthrop House and Pasadena, California; Joseph C. Tedeschi '90 of Thayer Hall and Brooklyn, New York; Julio R. Varela '90 of Holworthy Hall and New York, New York; Benjamin Waldman '89 of Lowell House and Plainview, New York; Michael E. Wall '90 of Hurlbut Hall and Malibu, California...