Word: reformer
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...page Intelligence-Reform Bill that congress passed last week is the most sweeping overhaul of the U.S. spy community since World War II. President Bush, who plans to sign the bill soon, was at first lukewarm about it, and conservative House Republicans almost derailed it. But congressional holdouts bowed to pressure from the Sept. 11 victims' families, who demanded the system be fixed. How will it work? Here are answers to five crucial questions...
What's missing? The biggest missing piece is reform of congressional oversight, which is a mess. Any initiative a DNI undertakes can be undone by six committees or subcommittees. Don't expect lawmakers to give up their turf. --By Douglas Waller
...1/2-year push to reform Tyco, Ed Breen has pulled off feats that would have made lesser CEOs quake in their wing tips. He persuaded the entire board of directors of the disgraced company to resign, fired almost all its top corporate managers and faced down an $11 billion debt when he had no cash to spare. But there is one thing he is unwilling to do: celebrate. Tyco has finished its first solidly profitable year since its notorious former CEO, Dennis Kozlowski, turned the little-known industrial conglomerate into shorthand for greed. But Breen is not planning any parties (toga...
...maverick tax cutter, Forbes was seen as a bad fit to lead Bush's team of loyalists. And Gramm, never well liked on Capitol Hill despite his 18 years in the Senate, appeared an unlikely salesman in Congress for the President's big tax- and Social Security-- reform plans...
...Jack Welch, who built GE into one of the world's most profitable companies. But Immelt, 48, quickly went his own way, imposing new long-term strategies. When scandal erupted over Welch's perk-laden send-off, Immelt responded by taking a lead role in corporate reform. For starters, he put more independent directors on the board and got rid of stock options as part of his pay. "We know we are studied," he says. "We feel we have a responsibility. A good reputation is very important." --By Daniel Kadlec