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Wanted: experienced computer executives willing to help a blue-chip CEO get out from under the worst crisis in company history. IBM has sent out such a Mayday. Answering the call were retired vice chairmen Paul Rizzo, 64, and Kaspar Cassani, also 64, who will help chairman and chief executive John Akers get Big Blue back on an even keel. Still unanswered, though, is the question of who asked the pair to return. Some analysts think Akers did it, to placate IBM's increasingly dissatisfied board. Others suspect the board brought Rizzo and Cassani back, as the first step toward...
Still, analysts insist that IBM must get even leaner -- perhaps paring at least 50,000 more jobs within the next two years -- if it is to meet the challenge from smaller and nimbler competitors. Says Bruce Lupatkin, an industry analyst: "There's still a lot of fat left." CEO Akers agrees that layoffs are necessary for the company's long-term survival. "Although it's a difficult step to take," he says, "it's one that, given the realities, if we must do it, we must...
...first two startling sentences of the introduction: "In 1995," Figgie writes, "the United States of America, as we know it today, will cease to exist. That year, the country will have spent itself into a bankruptcy from which there will be no return." Figgie, the CEO of Figgie International, an agglomeration of companies that produce everything from footballs to fire extinguishers, then describes how the U.S. would collapse under its great mountain of public debt, now at $4 trillion and climbing...
TIME (ISSN 0040-781X) is published weekly for $61.88 per year, by Time Inc. Principal Office: Time & Life Building, Rockefeller Center, New York, N.Y., 10020-1393. Reginald K. Brack Jr., Chairman, CEO; Don Logan, President; Joseph A. Ripp, Treasurer; Harry M. Johnston, Secretary. Second-class postage paid at New York, N.Y., and at additional mailing offices. (c) 1992 Time Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited. TIME and the Red Border Design are protected through trademark registration in the United States and in the foreign countries where TIME magazine circulates. POSTMASTER...
Chairman, CEO: Reginald K. Brack...