Word: portfolios
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Colin Powell is not the first Secretary of State to come into the job with high expectations. HENRY KISSINGER, named Richard Nixon's man at State in 1973, had a portfolio of diplomatic successes and "the unmistakable aura of a true celebrity...
...Powell knew from the outset that this was Bush's one cherished foreign policy. "It comes directly from the President," says a State official. "He's asking every day, 'How's it going? What progress is there?'" It colors everything else in the Secretary of State's portfolio. "The constant question is, How will this or that impact on missile defense?" says another senior diplomat. Missile defense isn't Powell's No. 1 priority, but a top official from the Reagan-Bush era says he has made the decision that if this is theology with Rumsfeld, Cheney and Bush...
There is plenty of work yet to do on the portfolio that Welch created. GE's long-cycle businesses, such as power and aircraft, where orders are locked in years in advance, are in good shape. Not so the short-cycle divisions, such as appliances and lighting. Many observers expect Immelt to get out of the cutthroat business of selling dishwashers and refrigerators, which Welch was unable to do. Still, "having a few consumer brands is worth something," says Noel Tichy, a University of Michigan management professor who ran GE's famed Crotonville executive-training center in the mid-1980s...
...network. Like all other media, the network is suffering through a painful advertising slump. The current woes, however, haven't convinced Immelt, who's being counseled on the vagaries of the broadcasting business by NBC boss Robert Wright, that he has to marry NBC to a wider media portfolio, whether a Hollywood studio or a cable company. He says he has no plans to sell NBC, though he'd like to acquire more stations...
...followed - according to the National Association of Realtors, the price of homes in metropolitan areas is up 10 percent so far this year, compared to 3.9 percent in the ?80s and ?90s - and suddenly everybody with a roof over their head felt richer in spite of some rather nasty portfolio problems...