Word: drastically
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Dates: during 1990-1999
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After losing $410 million in fiscal 1998, which ended Sept. 30, electronic-controls and communications conglomerate Rockwell International took the drastic step of spinning off its semiconductor business into a separate company. It is a giant, with sales of roughly $1.3 billion, or nearly a fifth of Rockwell's total 1998 volume of $6.8 billion. But Rockwell CEO Don Davis insists that the move was necessary to allow Rockwell to concentrate more on its core businesses, principally factory automation and aviation controls. (A possible result of divided attention: Rockwell in 1998 overestimated demand for new high-speed computer modems...
...companies have escaped the profit squeeze with one strategy alone. Most combine several approaches, or shift from one to another. Besides spinning off parts of their businesses, Hewlett-Packard and Rockwell International are carrying on more traditional--and in Rockwell's case, quite drastic--cost-cutting programs in remaining operations. Tommy Hilfiger has not only adjusted quickly to a changed marketing mix but also shifted garment production into Asian plants, where labor costs are lowest...
...triple-digit shindigs over May?s sleeping-dog inflation number, the Fed chairman told Congress ?- and, of course, the intently listening markets ?- to keep the music down just a little bit. "When we can be preemptive, we should be, because modest preemptive actions can obviate the need of more drastic actions at a later date that could destabilize the economy," he told the Joint Economic Committee. Folks, that?s as clear as the man gets without actually saying it: The Fed will raise interest rates one quarter point at its meeting on June 29. Says TIME senior economics reporter Bernard...
Although the other clubs have not made such drastic changes, they have all shown a commitment to changing the atmosphere inside their buildings...
Indeed, Tobacman may be switching from quantum mechanics to community banking and moving from Eliot House to Indonesia, but he won't be going through any drastic changes...