Word: oversight
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Dates: during 1980-1989
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Industry and financial experts could only conclude that the problem lay with the company's founders, brothers Charles and Maurice Saatchi. Over the past four years, both men have increasingly withdrawn from the firm's day-to-day * oversight. Charles, 46, has spent much of his time becoming one of the world's most voracious art collectors, sometimes buying entire exhibitions at a single gulp. Now he is unloading scores of works at the hyperprices his frenetic buying helped create. Maurice, 43, though not as aloof as his sibling, spends less and less time with Saatchi & Saatchi employees and clients...
...debts and write-offs are steadily increasing. "Losses from these programs have already cost the taxpayers tens of billions of dollars and have had a significant impact on the federal deficit," warns Charles Bowsher, the U.S. Comptroller General. Adds Michigan Democrat John Dingell, who chairs a House subcommittee on oversight and investigations: "It is as if every man, woman and child in this country each co-signed a personal loan...
...other members of the House leadership team who vote against the tax hike--Robert A. Cerasoli (D-Quincy), chair of the Post Audit and Oversight Committee and Kevin P. Blanchette (D-Lawrence), chair of the Public Service Committee--resigned their posts late last week because of pressure from Keverian to vote for the package...
Lindow's bugs were to be the first genetically altered bacteria released into the environment. Although there was strong evidence that the microbes were benign, biologists at Berkeley and the NIH had failed to consider fully the experiment's environmental impact. The oversight allowed Rifkin to sue to block the experiment. The courts agreed, and, thanks to Rifkin, testing was postponed for three years while the NIH, the Department of Agriculture and the Environmental Protection Agency struggled to draw up rules under which genetically engineered products would move from the lab to the field...
Earlier this week, Rep. Robert A. Cerasoli (D-Quincy) left his position as chair of the Post Audit and Oversight Committee, saying that Keverian wanted his resignation if he would not support the bill...