Word: systemization
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Dates: during 1960-1969
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...Foundation, the experiment gave a community-elected neighborhood board and its Negro administrator, Rhody McCoy, a measure of local control over policies in the area's eight schools. The project was opposed by the predominantly Jewish United Federation of Teachers, which feared that decentralization, if applied to the entire system, would destroy the union's bargaining power...
...arms around." There are few armfuls quite so huge or potentially so bountiful as G.E.'s. Its 375,000 employees turn out some 3,000 product lines, including jet engines, nuclear power plants and electric toothbrushes. Now the company has designed an unusual management system to better take hold of some costly problems...
...system does away with the post of president and divides responsibility largely among three vice chairmen, who report only to Chairman Fred J. Borch, the man who gave up the presidency but remains very much the chief executive. The group's main task is to squeeze more earnings out of G.E.'s steadily increasing sales. Last week in Manhattan, Borch publicly introduced his triumvirate-William Dennler, Jack S. Parker and Herman Weiss. He also reported that sales reached a record $8.4 billion in 1968-double ten years ago-but profits did not keep pace. A preliminary estimate shows...
Such worries have been reinforced by signs of strain in the world's monetary system. Eight hours after Treasury Secretary David Kennedy was sworn in last week, he talked down one source of uneasiness. In a statement approved by President Nixon, he ruled out any change in the official $35-per-oz. price of gold. "We see no need or reason for such action," he said...
...weeks ago, the free-market price in London and Zurich climbed to $42.75 per oz. That was the highest in the ten months since a buying panic forced central bankers to adopt a two-price system and stop supporting the price of privately traded gold at $35. After Kennedy's declaration last week, the free-market price retreated...