Word: quit
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Modrow is admired partly because he remained in the discredited party when others were resigning en masse -- among them his close friend Wolfgang Berghofer, mayor of Dresden and, like Modrow, a reformer. But if Modrow had quit in January when Berghofer did, the government undoubtedly would have fallen. The result would have been chaos...
...make matters worse, Frank Macchiarola, who became Covenant House's acting president after Ritter was suspended by his religious order while it investigated the allegations of sexual misconduct, also quit. One explanation for his departure was that Ritter urged the board of directors to seek a nun or priest as his permanent replacement and appoint his longtime deputy James Harnett, a layman, as interim head. With the group's credibility compromised, the loan revelations may endanger its fund-raising ability -- and its ministry to the young...
...Government's problems in finding and keeping top talent to lead the rescue, which many potential candidates view as a thankless job. Daniel Kearney, a real estate expert with Wall Street and Washington experience, seemed an ideal choice for chief executive of the Oversight Board. But Kearney quit in February after just four months on the job, citing a lack of authority "essential to be effective in this process." At the same time, the Treasury Department is having trouble replacing M. Danny Wall, the head of the Office of Thrift Supervision, who oversees the surviving S&Ls. Wall resigned...
Richard A. Daynard, a Northeastern Universitylaw professor who chairs the non-profit TobaccoProducts Liability Project, said Graham'sassociation could have been the reason behind theEd School's decision not to accept a grant fromthe makers of Nicorette--a gum designed to helppeople quit smoking...
Drexel officials are shocked by the backlash, which a spokesman calls "much ado about nothing." The firm contends that many of the bonuses were promised to executives early in 1989 and that Drexel's best and brightest might have quit en masse if such rewards had not been dangled before them. Nevertheless, Drexel violated one of the cardinal rules of compensation: that bonuses should be linked to corporate performance...