Word: turnaround
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Dates: during 1980-1989
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...report claims that shutdowns occurred in almost every component of the complex trading systems, from the printers on the exchange floors to the phalanxes of minicomputers that do the bulk of the N.Y.S.E.'s back-office work. Part of the Big Board's designated order turnaround (DOT) system, which transmits orders from brokerage firms to the floor of the exchange, crashed four times on Oct. 19. The next day, a system that stores standing orders to buy or sell shares at a predetermined price stopped three times. One still unidentified software glitch temporarily misplaced transaction reports involving some 4.3 million...
...from the other fast-buck operators. He rolls up his sleeves. Icahn, 51, is a quick learner who is imposing his no-frills ethic on some of the largest and most troubled U.S. corporations. Right now, the unflappable Icahn (estimated net worth: $700 million) is simultaneously juggling three daunting turnaround projects: the born-again TWA, the bankrupt Texaco and the resurgent USX. Icahn's demonstrated management know-how has made him perhaps the most credible of U.S. raiders, one whose spartan style of running a company is both inspiring and chilling for corporate America...
...deal underscores Kodak's swift financial turnaround. In 1985 and 1986 the company suffered six straight quarters of declining profits, but in the first nine months of 1987 earnings more than tripled from the same period the previous year, to $936 million...
...Open tennis match was running over. The result was an unprecedented six minutes of empty air time. The black screen was a humiliating symbol for TV's most troubled news division. But it turns out to have marked a nadir followed by a swift and surprising turnaround...
...NEATEST TURNAROUND Can a new management take over a revered but fading institution, refurbish it and attract a young and trendy clientele without alienating its valuable old regulars? In the case of Manhattan's fabled '21' Club, the answer promises to be yes. Biggest controversy is the house hamburger, now with herb butter at the center. Newcomers love it, but old- timers say, "Hold everything...