Word: paramount
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...media executives on both coasts were startled by the abrupt ouster of Frank Biondi as chief executive of Viacom late Wednesday. Biondi, a former HBO executive long viewed as the heir apparent to billionaire Viacom chairman Sumner Redstone, was widely respected for his management of an empire that included Paramount Pictures, Simon & Schuster Books, Blockbuster Entertainment and MTV. In a terse statement issued after the financial markets concluded trading for the day, Viacom said that Redstone, 72, had taken over Biondi's responsibilities and would be forming an executive committee of seven Viacom executives to assist him in running...
...China's leaders await the death of Deng Xiaoping. The 91-year-old patriarch, reportedly living in a military hospital, is said to have suffered several strokes and can barely speak. Deng has chosen Jiang as the man to follow him, but no one can supplant Deng as "paramount leader" until he dies, and his death will unleash a succession struggle. In the meantime, China is in a nerve-racking state of limbo, facing grave problems, such as rampant official corruption and widely divergent income levels, and fretting over a whole generation that remembers the 1989 Tiananmen Square massacre...
Fond of movies, she first invested in Hollywood studios, including Universal and Paramount, and kept a tally of their attendance rates. She also bought stock in about 100 blue chips and large franchise corporations, such as Coca-Cola and PepsiCo, and drug companies like Bristol-Myers Squibb and Schering-Plough. Her investments grew quickly, says William Fay, her stockbroker for 25 years. "After World War II, stocks really took off. While $5,000 sounds like a nominal amount, it could have increased fivefold in five years," says Fay, who retired from Merrill Lynch two years ago. At Scheiber's death...
...Sachs is going to give us an opportunity to step beyond the boundaries, we're far more desperate to find out why Harvard students heralded for their intelligence, diversity, creativity and talent are flocking toward firms where regardless of what their ads say, or what exactly they do, the paramount goal is to make money and embrace the rules of the game...
Perhaps we should face the possibility that many Harvard students, like the firms recruiting them, hold making money as the paramount goal. Again we realize that this description probably fits a portion of the senior class (and that high paying jobs may be especially attractive to those with the burden of large student loans), but we are unwilling to discard our naivete wholesale and ascribe greed and selfishness to the same students who have filled the ranks of PBHA service programs. We cannot be ignorant of their undeniable good fortune. One must wonder how it is that Harvard students...