Word: quota
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Dates: during 1990-1999
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...graduate, he lost his zeal for the Navy because its bureaucracy was stifling, and he tried to get out early. He became a top salesman for IBM, but the company cut his commissions so that he would not earn more than his managers; worse, when he fulfilled his annual quota by Jan. 19, 1962, he was forced to sit idly for the next six months. The computer giant rejected his idea for a computer-service company. Disgusted, he founded Electronic Data Systems (EDS) in June 1962 with $1,000 put up by his wife Margot. Only six years later...
...certainly did; he was in fact a whiz-bang salesman for IBM and really did fulfill his annual quota for 1962 on Jan. 19 (by, he says, selling a single giant IBM 7090 computer). But fellow IBM salesmen from that period say the rest of the story is fantasy. IBM had no objection to salesmen earning more than managers, they say, and many did -- with the blessing of the managers, whose own incomes rose the more their salesmen produced. Moreover, they say, IBM was not so stupid as to deny itself revenue by forcing its best salesmen to sit idle...
...Major Trading Partners, an advisory group to the Ministry of International Trade and Industry (MITI) outlined the trading patterns of 10 regions, including the U.S., the European Community, Korea and Singapore. The report pointed out violations of fair trade by each area in 10 separate categories, such as quotas, anti-dumping measures and government procurement. The U.S. fared worst of all, with black marks in nine out of 10 categories. The report cited, for example, American pressures on Japan to limit its auto exports as an unfair quota. The E.C. and Korea came in next with violations in six categories...
...What it's leading to is more government... and less free enterprise," said John Natalie. He also said a quota system would be "economically a disaster...
...College set a 60 percent "preppie" quota in order to prevent "a house becoming the house of the rich people and another house the house of the poor people," says Heimert...