Word: turnarounds
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...Although online brokerages such as Schwab, Discover and Waterhouse were inaccessible for much of Monday morning after receiving double or even triple their normal traffic, by the end of Turnaround Tuesday even E*Traders were better off than the thousands of furious investors who reached busy signals - instead of brokers - during the Dow's bullish backlash...
What's wrong with this picture? When George Fisher became the head shutterbug at Eastman Kodak four years ago, things instantly looked brighter for Big Yellow, the world's largest photographic filmmaker. Fisher, who dialed up a triumphant turnaround at cellular-phone and microchip giant Motorola, planned to re-vitalize stodgy Kodak (1996 sales: $15.97 billion) with a burst of digital-age products. Instead of bloody downsizings, Fisher would restore Kodak's faded glory through the magic of growth...
...from Brown University and is one of corporate America's highest-profile executives. For leading once sleepy Motorola into the digital age, Fisher is on the short list for many high-profile ceo jobs that become available. He spurned an offer to head IBM before Louis Gerstner took that turnaround job in 1993. More recently, Fisher was widely viewed as a possible successor to AT&T chairman Robert Allen. Perhaps partly to scotch speculation that he might be leaving, Fisher agreed to lead Kodak until December 2000 and was rewarded with options to buy 2 million shares at an exercise...
Last season's turnaround in Philadelphia would have been impossible without the play of Ivy League Rookie of the Year Mike O'Connor in goal. Harvard's players are hoping that off-season knee surgery can slow O'Connor down, at least for one game...
...interstices of monetary flows. His best-known division, the Quantum Fund, is a so-called hedge fund that invests for rich clients. (See box.) The company itself has $18 billion in assets under management. It is also a vulture investor, taking positions in distressed companies in anticipation of a turnaround, and it is a part owner of businesses ranging from food companies to airlines. Soros has not actively managed the funds in years. That responsibility falls to Stanley Druckenmiller, who by most accounts has done brilliantly...