Word: turnaround
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Dates: during 1980-1989
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...barrier to a brisker turnaround remains the federal budget deficit, which the board expects will reach an unprecedented $205 billion in the current fiscal year. The members were chagrined, and even a little shaken, by the failure of Congress and the White House to agree on a new budget last month and offered some deficit-cutting proposals of their...
Despite the record-industry turnaround, no one expects an early return to the boom of five years ago. Says Al Teller, general manager of Columbia Records: "We're a mature industry. The huge growth of the '60s and '70s is not on the horizon." One reason is that baby boomers, who bought many more records than their parents, are now getting into their 30s and buying fewer records. But music executives do not want to think about those sour trends. For now, they want to sit back and listen to the sweet music those megahits are making...
...Steel lost $35 million in the first quarter, almost twice as much as last year. Armco lost $128 million. Dow Chemical's profits declined from $154 million last year to $69 million this year. Dow President Paul F. Oreffice explained that his industry "traditionally lags a general economic turnaround by a few months." The big domestic oil companies, beset by falling prices, should show a 20% profit drop on average...
MARGARET HECKLER'S recent turnaround on the "Squeal Rule" attracted a lot of attention. As a Republican Congresswoman from Massachusetts, she opposed the controversial rule requiring that parents be notified when their children younger than 18 seek birth control information at federally funded clinics. An abrupt about-face was required when President Reagan nominated her to become his new Secretary of Health and Human Services...
...sophisticated financial tools needed to keep track of operations. The quickest fix lacocca knew was to hire people who understood the same system he did: other Ford executives. Some were called out of retirement, others were wooed away and enlisted with lacocca for the challenge of engineering a turnaround. Today the four top officers are Ford alumni: lacocca; Vice Chairman Gerald Greenwald; Harold Sperlich, president of North American automotive operations; and Executive Vice President of Finance Robert S. Miller. Of the 28 highest-ranking Chrysler executives, only four remain from pre-Iacocca days. Says Survivor Stephan Sharf, 62, executive vice...