Word: stocke
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Dates: during 1990-1999
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There exists a paradigm of the perfect economy, a place where a dismal scientist may even lay down his HP-19B calculator because analysis is superfluous in a land where supply and demand are calibrated, inflation is checked, growth steady, the workforce fully employed and the stock market bullish. For the moment, the U.S. may be that perfect economy, and that means the greatest challenge for Larry Summers, 44, the new nominee for Secretary of the Treasury, will be not to muck things...
...technology, patent ownerships--and Tom Stallkamp thought he'd worked through them all. As president of Chrysler, he had helped orchestrate the American company's merger with Germany's Daimler-Benz. But last November, as the new outfit, DaimlerChrysler, approached the date it would debut on the New York Stock Exchange, the whole thing stalled seemingly over whether the company would use American- or European-size business cards. The more tradition-bound Germans dug in their heels, not surprisingly. But the more flexible Yanks wouldn't budge either. "It got all the way up to me, and I said, 'What...
...company is raking in profits even as its executives redefine the boundaries of their businesses. At New York City's tony Le Cirque 2000 two weeks ago, Stallkamp and a chorus line of executives trotted out their achievements: more than $1.4 billion in savings, a healthy stock price of $94 and 34 new products already on the drawing boards. "Nobody's done this before," crooned Stallkamp. "But we're feeling pretty good about where...
Still, says Schrempp, "our toughest times are ahead." Last year, in a move that still draws an angry reaction from Schrempp, DaimlerChrysler was refused admission to the Standard & Poor's 500 index--important because inclusion would make the company's stock a must-buy for many money managers. The majority of the company's shareholders are now in Europe, though the largest stake is controlled from Kuwait. Another concern is contract negotiations this summer with an increasingly feisty United Auto Workers union. In Europe the economy still trails Schrempp's ambitious expectations, and so do sales of the Smart...
...matter what happens, America's Chrysler Corp. is history. If Bob Eaton simply cashes in his stock, he stands to make at least $200 million. As early as the end of this year, insiders expect, he will step down, leaving Schrempp to deliver on a promise that Chrysler's creative culture will survive...