Word: one
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Dates: during 1960-1969
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Around the Portage Country Club in Akron, Ohio, conversation these days is anxious, subdued, and addressed to one topic: dismissals of executives and white-collar workers at B. F. Goodrich Co. Since September, the fourth largest U.S. tiremaker has quietly retired or fired several hundred employees, including one vice president and many middle-aged people who have spent the bulk of their working lives with the company. The dismissals have often been abrupt, impersonal and accompanied by a minimum in severance...
That Uncertain Feeling. One way that Goodrich management found to improve performance was to thin out the 18,000 executive, professional and other white-collar personnel by attrition, early retirement and outright firings in Akron. Robert Sausaman, 48, an equipment buyer, recalls that, after 17 years with the company, he was given two weeks' notice and "my bare entitlement" by way of a pension. Robert L. Coon, 56, a staff photographer for 25 years, was given the option of $10,000 in severance pay or a $100-a-month pension. He picked the pension. One executive was offered...
...their performance and realize they could do better," says J. Wade Miller, vice president for personnel and organization. But there could be less favorable results for Goodrich, and not only in the loss of local good will in a community that backed the company in its struggle with Northwest. One group of white-collar workers, seeking job security, has asked to join the United Rubber Workers, which already represents 12,500 Goodrich factory hands. The union is now considering a full-scale organizing drive among Goodrich's office employees...
...Kemper Insurance Group outbid nine other companies for the policy to cover Indianapolis' 123 schools against fire, vandalism and other risks. The school board paid its $126,000 annual premium and had only one major claim-$101,000 for windstorm damage. Last week the board was searching for new coverage. Kemper announced that after the Indianapolis policy expires on March 1 it will not be renewed...
...train ride from his home in suburban Hillsborough, gets into the office by 8 o'clock. He says he makes decisions by listening carefully to all the facts that subordinates present and then weighing not only the facts but "my assessment of the people who are making recommendations." One of his current judgments is that the slowdown in the economy will cause interest rates to decline gradually...