Word: profit
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...Bronfman did understand certain things. At Seagram he got rid of second-tier brands and inked a lucrative distribution deal with Absolut vodka. More important, he recognized that Seagram's reliance on the slowing liquor business wasn't healthy. He made some shrewd deals, generating a profit of almost 50% on his family's $2.2 billion investment in Time Warner and getting Vivendi to pay a 50% premium for Seagram's shares (alas, he took it in Vivendi stock). And he wisely sold millions of those Vivendi shares, taking about $1 billion off the table...
...became fashionable. Birthdays, anniversaries and other significant events in an employee's life are noted with a card from Barrett's office. The airline has endured only one strike in three decades. Employee morale is boosted not only by the airline's sense of fun but also by its profit-sharing plan, an industry first that started in 1974; workers own about 10% of company stock...
SPRIGGS: Businesses are biased toward cost cutting as a way of making profit margins, and that puts in a bias against adding new workers. We overestimate the ability to generate jobs in an environment where you make profit by cutting cost. The easiest cost to cut is labor cost: shutting down a plant with a couple of thousand workers...
...farmers. The company, which now makes only wind turbines, is the largest manufacturer of them in the world, claiming a 24% market share. Starting with 60 employees after a bankruptcy filing in 1986, the company now employs 5,000 people, had 2001 revenues of $1.1 billion and a profit of $112 million. "Once considered an alternative energy, today wind power is a mainstream, environmentally friendly supplement to other sources of energy," says Svend Sigaard, managing director of Vestas. Sigaard says the future is likely to see more offshore wind farms like the one his company is building at Horns...
...People now know that this crisis was years in the making. Stocks kept climbing because executives kept finding creative new ways to hide the truth and fake a profit, to pretend they were investing money rather than just spending it. The revelations make for some dark magic now. When $2 billion disappears from Xerox's revenues, $4 billion from WorldCom's, it makes people feel poorer even if they personally lost nothing. The markets now look as if they could manage their third straight year of losses, for the first time since World War II, even though the economy grew...