Word: shakeups
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...acquisition makes sense for both sides. United Artists seemed the odd man out in Transamerica's financial services company. Heaven's Gate had demoralized the firm and caused a management shakeup. MGM was attracted to UA because it owns a library of about 2,000 old films that can be sold to cable TV. MGM executives also want to control United Artists' worldwide distribution network, since they will now collect the distributor's 30% cut of their movies' gross ticket sales. Says Merrill Lynch Vice President Harold Vogel: "The merger means MGM will...
McCardell, an M.B.A. from the University of Michigan and a veteran of Ford Motor Co. as well as Xerox, was brought in to give International Harvester that shakeup. The firm agreed to pay him a salary of $460,000, a $1.5 million signing bonus and a $1.8 million loan at 6% interest. The loan was to be used to buy Harvester stock, and the company promised to turn it into a gift if McCardell increased International Harvester's financial performance beyond that of the average of its six main competitors...
July 18: Carter announces second cabinet shakeup, to prepare for his campaign. He removes all current officeholders. Kim Jae Kyi, former head of the Korean CIA is made head of Justice Department. Former Philadelphia Mayor Frank Rizzo becomes Secretary of Defense, Idi Amin is named Secretary of State. Miz Lillian takes over the U.N. Ambassador slot...
...happened in a minute, and not a word was spoken. As Jimmy Carter prepared to leave a high-thermostatted White House reception shortly after his Cabinet shakeup, his shoulders slumped, his tired head bowed. Instantly, Rosalynn Carter's hand reached out, possessively supporting his back, and her steely eyes glared out at the watching guests like those of a guardian lioness. Then they walked out together...
...days leading up to his stunning shakeup, Carter had dropped hints about what he had in mind. At Camp David, he remarked to reporters that he was thinking of changing the "structure of my Cabinet." During his TV address on Sunday, he recalled the warning of one summit participant that some Cabinet members "don't seem loyal" and that there "wasn't enough discipline among your disciples...