Word: profited
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Dates: during 1990-1999
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Rarely has a sour note turned so sweet so fast. While production, jobs, incomes and consumer spending soared in the U.S. last year, corporate profits fell. To be sure, they fell only 0.8%, but that result stood out like the proverbial uncertain trumpet in a triumphal march. By April, analysts had begun muttering about "profitless prosperity" when--bingo! Within days, company earnings reports for the first quarter of 1999 heralded what the government eventually calculated was the strongest profit rebound in four years...
...business is in California, while Rockwell's other plants and customers are mainly in the Midwest. After the split-up last December, Rockwell began moving its corporate headquarters from Costa Mesa, Calif., to Milwaukee, Wis. It has also moved back into the black. For fiscal 1999, Davis predicts a profit of $570 million on revenues of $7 billion...
...steel mills. NCI builds its own automatic welding equipment, specially designed to weld mainframes of buildings together. Five years ago, it began buying painting plants, and it is the only company in the industry that paints its own steel. Rundell boasts that "typically we are able to double the profit performance" of any company NCI takes over. Financial analysts praise NCI's managers for resisting all temptations to stray from their anti-conglomerate pattern. In all their acquisitions, says Bill Baker of Dain Raucher Inc., "they have never been seduced into areas they know nothing about...
...companies have escaped the profit squeeze with one strategy alone. Most combine several approaches, or shift from one to another. Besides spinning off parts of their businesses, Hewlett-Packard and Rockwell International are carrying on more traditional--and in Rockwell's case, quite drastic--cost-cutting programs in remaining operations. Tommy Hilfiger has not only adjusted quickly to a changed marketing mix but also shifted garment production into Asian plants, where labor costs are lowest...
Entrepreneur O'Donnell is a former assistant dean at the business School and currently serves as chair of Boston Concessions Group. But he is better known in Boston as founder of the Joey Fund, a non-profit organization named for his late son and dedicated to helping those with cystic fibrosis...