Word: shrewd
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...vicissitudes of a single stock." After some years of litigation, he and the board managed to clear the way to sell, in 1984, its Getty Oil stock to Texaco for $10 billion. In the end, this gave Williams $2.3 billion to play with in creating the Getty Center. With shrewd management, this endowment has since grown to $4.3 billion--four times that of New York's Metropolitan Museum of Art. Because the Getty Trust is obliged to spend 4.25% of its endowment on its own programs every year, it has as much as $225 million to spend on itself annually...
DIED. ANN DEVROY, 49, determined, shrewd, indefatigable Washington Post White House correspondent; of cancer; in Washington. Her dogged professionalism in covering four Presidents won Devroy the admiration of her peers and prompted one subject, George Bush, to write admiringly to the ailing reporter, "I want the same toughness that angered me and frustrated me to a fare-thee-well at times to see you through your fight...
...Defense contractor" does not begin to describe Armstrong. Formerly with IBM, he is a shrewd marketing executive who will bring a hands-on style of management to a company that has begun to resemble a helpless giant. At Hughes, Armstrong spun off the automotive parts and defense businesses to bring the company to the cutting edge of the satellite and telecommunication industry. The market voted its quick approval of his latest move. After the story broke on CNBC last Friday, AT&T's stock rose 3.7%, to $45.19, while the rest of the market had a dismal...
Enter AMD and Cyrix with their successful Pentium-killers. Thanks to shrewd microcode licensing and intensive R&D work, these companies have developed fifth- and sixth-generation CPUs to compete with the best that Intel's got to offer. Low prices on their competitors' products have led Intel to slash prices on Pentiums by almost 50 percent this year...
...generation also still loves a good crisis, which is a trait that shrewd marketers have begun to tap. John Ferrell, the president of FerrellCalvillo Communications, notes that traditional feel-good campaigns for financial services have failed to nudge boomers into saving for retirement. So his New York City agency created humorous shock-tactic spots for the Alliance Capital Management group, a giant investment firm with nearly $200 billion under management. In one, a husband tells his startled wife they can't retire because they haven't saved any money and advises her to earn some by mowing neighborhood lawns...