Word: johnstons
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...There will be signs [at Johnston Gate] and hopefully at some of the other crosswalks saying pedestrians have the right of way," Wolf said...
...aborted palace coup and the wunderkind's sudden fall jolted the ad industry. It also roiled a 122-year-old agency that has been troubled by poor profits. Wrote Chairman Johnston in a memo distributed to all employees: "Nothing in my 36 years with this company has so saddened...
...Madison Avenue's golden boys. During his ten years at the agency, he had raced ever upward through the ranks. At the start of the year O'Donnell at 44 had defeated several rivals to become the chief at Thompson and the heir apparent to Don Johnston, the 59-year-old chairman of the J.W.T. Group, the holding company (estimated 1986 sales: $650 million) that owns the ad agency. Further triumphs seemed assured...
...more. Just three weeks after his promotion, O'Donnell was suddenly missing from Thompson offices last week. He had been abruptly fired after presenting a plan to take the company private and oust Johnston as boss, according to members of the J.W.T. board of directors. The directors, who decided that O'Donnell's behavior was grossly inappropriate, deliberated for about an hour before giving Johnston the go-ahead to sack...
...drama began when O'Donnell came to Johnston, his mentor, with a proposal to take the company private through a leveraged buy-out: a financial transaction in which investors, often company insiders, use borrowed funds to gain control of a firm. Johnston listened politely to O'Donnell but made no response. For the next few days the two men communicated only through intermediaries, until Johnston called the company's outside directors to an unscheduled meeting to hear what O'Donnell...