Word: ceos
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...hottest plays on Wall Street. If Hilton Hotels Corp. succeeds in its hostile $6.5 billion takeover bid for ITT Corp. and its chain of 424 Sheraton properties, as many analysts think likely, HFS will add the luxe Sheraton brand to its already bulging portfolio. That's because Hilton ceo Stephen Bollenbach wants to license HFS to franchise the Sheraton trademark worldwide. Says Bollenbach of Silverman: "He can do more for the Sheraton brand than anyone else can. He's the best...
...often confess corporate sins in public. But during a recent hearing at the suburban Maryland headquarters of the Nuclear Regulatory Commission, an electric-utility boss named Bruce Kenyon did just that. Kenyon, a respected nuclear-industry veteran with a raspy voice and a cocksure style, last fall became president, CEO and designated savior of Northeast Utilities' nuclear division, which operates five commercial reactors in New England. "At the time I arrived, [Northeast] was as close to a dysfunctional organization as I have ever encountered," he told the NRC. "The fundamental problem was leadership...
...dicey gamble. Having sliced its staff in half since 1995, th e struggling computermaker must now pray that it can keep the workers it needs to think its way out of the tiny corner of the market where it cowers, says San Francisco Bureau Chief Dave Jackson. While Apple CEO Gilbert Emilio insists that the company w ill return to profitability by year's end, that's not really the point in a business where rapid innovation is survival, and where fewer and fewer software firms see any reason to create exciting new programs for a company that has become...
Nowhere has the prospect of deregulation had a sharper impact than in New England. John Rowe, ceo of the New England Electric System, says his company was virtually forced by state officials to put its 18 power plants on the block. "In effect, we were told that in order to get all that we could from our stranded investment [a reference to white-elephant plants and unprofitable long-term power contracts], we should sell off our generation...
...this unbundled world, New England Electric and Boston Edison will become electric companies that no longer make electricity. Rowe intends to focus primarily on energy distribution; Thomas May, the ceo of Boston Edison, wants to become a force in an entirely different business, telecommunications. Boston Edison last year hooked up with a unit of C-TEC, a Princeton, New Jersey, company that provides integrated voice, data, video and high-speed Internet services. May plans to offer them first in Boston and then in the rest of New England. "The utility industry has been growing at 1% a year...