Word: toweritis
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Dates: during 1980-1989
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...retailing giant (1987 revenues: $48.4 billion) was putting its landmark headquarters, the Sears Tower, on the block. Target price: a record $1 billion-plus. The offering was remarkable not just for its size but for its symbolism: the 110-story tower, which commands a view of four states, had seemed to signify the company's invincibility and dominance over the U.S. consumer marketplace...
...profits and depressing its stock price. The slump finally forced the company's management last week to launch a major restructuring that involves paring down its overhead and revamping its marketing philosophy. In a bidding process that may take six months or more, Sears hopes to sell its tower for perhaps six times the $200 million it cost to complete in 1974. In addition, Sears will sell off the commercial-property division of its Coldwell Banker real estate firm for an estimated $500 million, and the health- insurance programs of its Allstate insurance company for $1 billion...
...Ohio's Feed Materials Production Center in Fernald, a uranium-processing plant, the innocent-sounding name and the red-and-white checkerboard design on a water tower led some nearby residents to think it produced cattle feed or pet food. They have learned, to their dismay, that not only was the facility fabricating uranium rods for nuclear-reactor fuel cores and components for warheads, but one of its even scarier outputs was radioactive pollution. Marvin Clawson, 59, who lives near the plant, blames its operators for the fact that his wife Doris has had surgery for cancer three times...
...older students has risen, so have calls for on-site day care, flexible course schedules to accommodate full-time jobs, longer hours for campus bookstores and libraries, and more aggressive job counseling and placement. Schools are rethinking who they are. "We have had to come down from our ivory tower," says Donald Baker, dean of the College of Continuing Education at Rochester Institute of Technology (R.I.T.). "Quality and service are as important in education as in industry...
Contractors began working on the tower in mid-June in hopes of finishing by the start of classes this year, but a variety of technical problems delayed their work. They now say they are confident the bell will be in working order by late October...