Word: stockings
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Dates: during 1990-1999
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...perhaps his proudest achievement was to emerge from the shadow of a legendary, relentlessly demanding father. In his first five years as chairman, the younger Watson observed the anniversary of his father's death in 1956 with a ritual. He quietly took stock of what IBM had accomplished since his father died, and then said to his wife, "That's another year I've made it in his absence...
...great delight, Walton spent much of his career largely unnoticed by the public or the press. In fact, hardly anyone had ever heard of him when, in 1985, Forbes magazine determined that his 39% ownership of Wal-Mart's stock made him the richest man in America. After that, the first wave of attention focused on Walton as populist retailer: his preference for pickup trucks over limos and for the company of bird dogs over that of investment bankers. His extraordinary charisma had motivated hundreds of thousands of employees to believe in what Wal-Mart could accomplish, and many...
...kinder to some companies than to others, leaving many quality firms relatively undervalued and thus takeover targets. "We had a lot of different sources of financing," says Ling, 75, of LTV, in its heyday the 14th largest company in the U.S. "But we usually swapped our companies' stock for [that of] the firms we were buying...
...frenzied stock exchanges drove the price of diversified firms higher than that of the separated parts--the opposite of what happens today. "Investors came to overvalue growth by acquisition," says Walter Wriston, former chairman of Citibank. "That was because of this idea that a good manager could make two plus two equal five...
...company into one with dominant positions in its carefully chosen businesses. Welch then remade GE into a boundaryless organization that encouraged, and got, participation from employees at all levels. He extinguished turf wars and the not-invented-here syndrome that stultifies large companies. And he spread the wealth with stock options. It was a monumental accomplishment in a company of GE's diversity and size. He was the force behind GE's Crotonville leadership-development center at Ossining, N.Y.--No. 1 in the world, a veritable CEO greenhouse. That's another reason why GE is so widely studied...