Word: ponte
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...declined the opportunity to testify, but a surprisingly large number of multinational officials were eager to contribute their thoughts−and not just their hostile ones. Irving S. Shapiro, vice chairman of Du Pont, suggested that the panel should consider sponsoring a U.N.-wide agreement on international investment. Under such a plan, he said, investment funds might be governed in much the same way that the independently organized General Agreement on Tariffs and Trade (GATT) lays out rules for the movement of goods between nations. Emilio G. Collado, executive vice president of Exxon Corp., favored the notion of a proposed...
...years ago, synthetic leather seemed likely to appear in business histories only as an example of a rare product-development blunder by Du Pont. Corfam, its much touted leather lookalike, brought out in 1964, was expected to do for shoes what nylon had done for stockings. But demand never rose as much as Du Pont had hoped, partly because consumers complained that Corfam shoes pinched and roasted their feet. By 1971 Du Pont admitted defeat and wrote off the effort as a $100 million bust. Now it appears that Du Pont's real mistake was giving up too soon...
...positions that put them in line to take over when the chairman reaches the mandatory retirement age of 65 next April. Senior Vice President Irving S. Shapiro, who moved up to the new position of vice chairman of the board, is now officially No. 2 in the Du Pont hierarchy, and heir to the chief executive's job. Edward R. Kane, another senior vice president, was appointed president, and will provide the other part of a two-man top management team after McCoy leaves...
Kane, 54, earned a Ph.D. in physical chemistry from M.l.T. in 1943, joined Du Pont the same year, and rose through the company's textile branches. Shapiro, 57, is a courtly lawyer. He will become the first chief of Du Pont who is neither a chemist nor engineer, and has not spent his full career with the company...
Later Shapiro made a name for himself as a Justice Department lawyer, prosecuting Communist leaders. He joined Du Pont in 1951 because "Du Pont was an exciting place to be in business, despite its conservative aura at the time." Shapiro won his stripes by directing its epic battle with the Justice Department over divestiture of the company's General Motors stock-a struggle that finally ended in 1965 with Du Pont losing the antitrust action but disposing of the stock on favorable terms. Lately Shapiro has been the company's key negotiator in Securities and Exchange Commission hearings...