Word: smith
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Dates: during 1990-1999
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...company lost a total of $30 billion from 1990 through 1992, a cash drain that amounted to nearly $50 million for every working day every year for three years, before the GM board finally staged the 1992 coup that installed the present management team under chairman Jack Smith...
Without exception, a corporate cultural revolution of this scale is not won without a vicious fight, and GM is still chock full of gearheads who are torqued off at Smith for abandoning them to folks who wouldn't know which end of a wrench to hold. And GM's bureaucracy, as thick as any company's, can still downshift a project to neutral at the drop of a meeting. One high-level executive says the parade of meetings leaves him only 30 hours a month to work on new products and sales. "Things are 100% better than they were...
...higher. The market tanked, pronto. Greenspan doesn't control the markets, for sure. But his is the hand closest to the interest-rate lever, which gives him an awful lot of influence. "He took the gun out and laid it on the table," says John Manley, an analyst at Smith Barney. "He must think we're thick as bricks...
...least 20%. The worst is over, you think? That's way too optimistic for me. Manley studied the past five bear markets, defined as a drop of at least 20% in the Standard & Poor's 500. In each case, the day the S&P started downward, the average stock (Smith Barney monitors 4,500 of them) had already fallen 19%. About like today. Look at popular stock funds like PBHG Growth and Twentieth Century Vista, down nearly 20% in the first quarter. When the guy buying stocks on his credit card gets this news, he'll start selling...
...concern that many of those welfare workers are taking jobs away from low-income union workers, and applauded the new proposal to meet the welfare goals by placing the workers in federal jobs. "The devil is in the details, and we'll look at the details closely," said David Smith, public policy director for the AFL-CIO. "But it seems to be a step in the right direction." While Clinton?s initiative takes the heat off the unions, the jobs are nothing to hang your hat on: some 4,200 will be temporary positions helping the Commerce Department prepare...