Word: toed
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Dates: during 1960-1969
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Goodrich's profits have lagged behind those of its prime competitors. Last year the company earned only 3.9% on sales of $1.1 billion, compared with 6% for the industry's most profitable major operator, Firestone. After Northwest's takeover attempt, Keener, who was paid $240,000 last...
That Uncertain Feeling. One way that Goodrich management found to improve performance was to thin out the 18,000 executive, professional and other white-collar personnel by attrition, early retirement and outright firings in Akron. Robert Sausaman, 48, an equipment buyer, recalls that, after 17 years with the company, he...
Goodrich made no announcement of the firings and Akron's Beacon Journal neglected to report the biggest potential story in town. The company secrecy was deliberate policy, and so was the uncertainty created among those who stayed. "I hope some of them will look into their performance and realize...
In 1967, the Kemper Insurance Group outbid nine other companies for the policy to cover Indianapolis' 123 schools against fire, vandalism and other risks. The school board paid its $126,000 annual premium and had only one major claim-$101,000 for windstorm damage. Last week the board was...
Company spokesmen contended that Kemper had no choice. To reduce its own risks, the company had passed on 75% of the $576 million policy to a pool of 15 other insurance firms. Because of growing vandalism in U.S. schools, which last year suffered $200 million in equipment damage, the pool...