Word: prudent
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Willes says the downsizing is just prudent management. "Expenses at the L.A. Times are higher than at other newspapers," he explains. "To get our returns back up to a competitive level, we have to get staffing down." But some contend that the Chandler family, which owns controlling shares of Times Mirror, is at fault for taking huge dividends instead of reinvesting in the company. Willes, said one L.A. Times veteran, "is a hit man for the Chandler cousins...
...used to be that prudent lobbyists would spread their contributions across both parties, which helps explain why even during their years out of power, the Republicans did at least as well as, and often better than, the incumbent Democrats. But under the G.O.P.'s new, scorched-earth policy, a lobbyist who works both sides of the aisle risks being denounced as the enemy by Republican leaders. "There are liberal Democrats in this town who are trying to destroy the revolution, and I'm not going to be their friend," declares House majority whip Tom Delay. "I'm their enemy...
...says Eaton. "If you go through the numbers and look at the cash we went through the last time around--when we had a much lower capital-spending plan--we believe it's absolutely prudent to have that kind of cash [the $7.5 billion] around." The Kerkorian bid has already had one negative impact on the company's ability to borrow. Reasoning that any takeover could leave the company saddled with unmanageable debt, all three credit-rating services quickly placed Chrysler's outstanding debt on their watch lists...
...wouldn't have thought it would be prudent tobase a change on that incident in particular,"said Gund Professor of Economics and of BusinessAdministration Richard E. Caves, who co-authoredthe FAS investigation on Harvard's benefits reviewtask-force...
...Indeed, you probably have to most of the time. No board of directors is going to question you too quickly for hiring stars with a track record and putting them in genre vehicles that have some prerecognition value. Even when one of these flops, you can always invoke the prudent-man defense. Hey, I did it by the rules; it's not my fault if they didn't come...