Word: ponts
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Kodak's open-window plan is similar to the efforts launched last year by Exxon and Du Pont. Hurt by falling profits, Exxon last summer sent letters to some 30,000 employees in divisions judged to be overstaffed, promising cash payments in exchange for resignations. Supervisors warned that layoffs might become necessary if not enough people quit. The company will not disclose the terms of the deals or how many workers accepted...
...largest white knight merger of all was Du Pont's purchase of Conoco in September 1981 for $7.4 billion, against hostile bids by Mobil and Seagram. Conoco has turned into Du Pont's most profitable division; its performance blocked Du Pont's earnings last year from being even lower than they were. But the recession has weighed heavily on the chemical giant, making the huge debt from the Conoco purchase harder to carry, and forcing the company to omit its customary extra year-end dividend. To save money, Du Pont executives have announced plans to close Conoco...
Just as frustrating is the inability of blacks to be accepted as professional equals. Van Johnson, 43, a Ph.D. in chemistry, joined Du Pont in 1968, and is now responsible for divisional sales of about $15 million. He observes, "In a company like this, sophisticated and genteel society that it is, it is difficult to define manifest prejudice. But no matter how long I have been here, there is always the suspicion when I negotiate a contract that maybe I didn't bring home as much as I might have if I were white...
...Walter Cronkite used to plead that his half-hour script would not fill three-quarters of a single newspaper page and that distortion was "the inevitable result of trying to get ten pounds of news into the one-pound sack we are given each night." Speaking at a du Pont Awards ceremony at Columbia University in February, NBC's Tom Brokaw said that unfortunately many Americans "have come to rely on us as their primary and only source of information" and "we are inadequate to that task." It just may be the anchormen should relax a little...
Harvard has more than $50 million invested in the three companies--General Electric. Du pont. and American Telephone and Telegraph--according to the most recent University financial report...