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Discusses the tasks of American chief executive officers of turning their companies into a truly global players. Need of a special kind of leadership; Lack of a monopoly on ideas and concepts in information services; Need to cultivate an international perspective and acquire international experience; Attitude in dealing with different cultures over long distances; Personal involvement in foreign purchases with his own government behind him.

Reports that an increasing number of boards of directors around the U.S. have begun to act on behalf of stockholders as never before. Ouster and replacement of chief executive officers; Redirection of strategy; Vetoing of investment plans. INSET: Tales from the boardroom..

This article looks at the emergence of a vision of the future manufacturing enterprise in the U.S. In the 1980s, the aerospace industry is leading the charge in manufacturing artificial intelligence, partly as a result of long-standing U.S. Air Force programs and subsidies that encourage contractors to modernize production methods. But a handful of other companies, including Xerox, Westinghouse, Texas Instruments, Hewlett-Packard, and Emhart, are pushing toward a nirvana called computer-integrated enterprise. The Japanese may outclass the U.S. in manufacturing skills, but these few ultra-advanced plants are so far an all-U.S. thrust. At Lockheed Corp, the Aeronautical Systems Group has developed an integrated metal-bending facility called Calfab, for computer-aided layout and fabrication. It has slashed the time for designing and manufacturing sheet-metal parts by 96 percent, from 52 days to only 2. Project manager Tony Soria credits organizational changes for 80 percent of the improvement. An expert system, dubbed Manufacturing Operations Consultant (MOC), keeps tabs on the strategic position of Digital Equipment Corp. (DEC). If Xcon reports a sudden shift in demand, MOC takes only 15 minutes to lay out how that change will affect production, inventories and gross margins, and it advises which factories need adjusted production plans. INSET: The crucial steps to automation..

This article discusses how the tactics of National Intergroup Inc. (NII) Chairman Howard M. Love to diversify the company has resulted in heavy financial losses. National Intergroup's future looks about as shaky as Love's. The company has botched efforts to get into oil and drug wholesaling, and its steel business is the last profitable of the big producers. Love and his directors may lose their jobs. But the real losers are the public shareholders of NII. During Love's tenure, NII lost a total of 535 million U.S. dollars. As a result, while the market value of most major steel companies has risen dramatically since Love took over NII in 1980, his company has bucked the trend. It is worth a mere 400 million U.S. dollars today--about two-thirds as much as when Love became chief executive. For his part, Love says his outside activities never distracted him from running NII. Many of his trips were business-related. All the criticism, he says, comes from short-term-oriented investors who do not understand that a wholesale diversification takes years to accomplish. Besides, if he had not moved away from steel, NII would have gone bankrupt. Love argues that while his promise of big profits is behind schedule, NII will be flying by the mid-nineteen nineties. But Love made his biggest mistakes whenever he tried to diversify.

This article looks at the current status of the U.S. economy and the likely performance of industries in 1989. It is enough to make the captains of industry breathe a sigh of relief. Economist after economist is saying that there is little chance of recession in 1989, and most forecasters see precious few signs of the excesses that usually precipitate a downturn. But wait a minute. With this expansion heading toward the ripe old age of seven, it is hardly the time for managers to let down their guard . Indeed, the late stages of an expansion typically are the most treacherous for business -- one mistep, one bad forecast, and suddenly the outlook darkens. For the past couple of years, either by luck or by skill, executives have managed the business cycle well. In 1989, continuing to do so is going to be their biggest challenge. Most expansions are dead and gone by this point. Usually, late in the cycle, a shortage of workers and production capacity pushes wages and prices higher. Rising inflation prompts the financial markets or the Federal Reserve Board to jack up interest rates. As borrowing costs rise, demand slows and businesses find inventories piling up. Then they slash production, lay off workers and the recession begins.

The article presents the top 1000 public corporations in the U.S. for 1988. "Business Week" magazine surveyed a number of the companies about their stock price and market value. Ways on how to manage market value are discussed. It also looked at the significance of value-based planning to a firm's performance.

The article presents a discussion about dynasties and nepotism in American business. The new nepotism is considered to be flowing from Americans' exhaustion with the code of greed that has undermined the bonds of corporate loyalty. Some of the dynasties in the American business include chief executive Curtis L. Carlson of Carlson Cos. transferring his post to his son-in-law. INSET: WHERE BUSINESS IS A FAMILY AFFAIR.

The article unveils the secrets behind the success of Westinghouse Electric Corp. under the leadership of its two top executives, John C. Marous and Paul E. Lego, the new chairman and president, respectively. Under their management, the company's sales rose to billions in 1987, leaving behind its strongest competitor General Electric Co.

The article presents the Business Week Top 1000 companies with the largest market value over the five year period 1981-1986 in the U.S. Among those companies listed were Exxon Corp., Little Marion Laboratories Inc., Coca-Cola Co., and JP Morgan & Co. Details of the companies financial performance, market share, competitiveness, and other business-related issues are addressed.

The article focuses on turnaround specialists, managers and consultants who are tasked to save companies facing Chapter 11 or outright liquidation. Spencer Stuart and Associates president of executive recruiter, Thomas J. Neff explains that the demand for turnaround specialists has tripled since 1981. According to the article, turnaround specialists received salaries of up to $5,000 a day.

The article explains that Japanese corporations are transplanting their industrial management, manufacturing processes, factory management, and employment practices to American corporations. Three Japanese automobile assembly factories prove that products can be made in the U.S. with the same quality and at the same cost as Japan-made goods.

The article focuses on the proliferation of the information crimes in the U.S. According to experts, many companies in the nation are increasingly attacked by modern pirates, imposing billions of dollars worth of damage in missed sales as well as in wasted research and development costs. This trend could be attributed to the increasing value of information. Weak, inconsistent, and outdated laws give trade-secret thieves an advantage. The courts are also slow to punish the few who are caught. INSET: THE SECRET WORLD OF ROBERT ARIES.

The article reports on the business plans of David M. Roderick, chairman of United States Steel Corp., to improve the performance of his company. To balance the doubtful prospects for the firm's steel and oil businesses, Roderick is planning to acquire a company. Since becoming the company's chairman in 1979, Roderick has made several changes including the dismissal of 54% of white-collar employees, selling assets worth $3 billion, and the acquisition of Marathon Oil Co.

Discusses the outcomes of a campaign of Walter F. Williams, chief executive officer of Bethlehem Steel Corp., to improve the quality and productivity of the company's basic steel business in the U.S. Sale of unrelated assets; Development of smooth relations with suppliers and customers; Wage concessions he won from labor; Challenges faced by the company; Performance of the improved Bethlehem steel; Productivity gains of the company.

The article reports on whether the reshaping of Europe in 1992 will help reduce the number of U.S. multinational companies. The authors note that the U.S. multinationals are investing $19.7 billion in 1988 on new plant and equipment in the European Community. The authors add that the battle for 1992 will be a decisive test of U.S. company strength because the Europeans are also certain to defend their national champions against the U.S. and Japanese competition.

The article focuses on the elements of graduate business education in the United States that are in need of improvement. According to critics of business schools, the institutions have turned out overambitious people with little financial skills and ability to lead people and make better products. The changes that business schools should implement to improve graduate business education in the country are discussed.

The article reports that U.S.-based multinational corporations are as much of the trade deficit problem as they are part of the solution. Multinationals are the biggest exports in the U.S. but they are also the nation's biggest importers. Multinationals manufacture and sell nearly three times as much abroad as they make in and export from the U.S.

The article discusses the decline of steelmaker Armco Inc. of the United States. The company lost $1.9 billion between 1982 and 1986, much of it in diversified businesses entered by the former Chairman C. William Verity, Jr. To avoid bankruptcy, Verity's successors were forced to dismember the company. In 1982, the year Verity exited as chairman, the company lost $345 million. Armco's entrance into insurance has already generated $570 million in losses since 1982. INSET: WHY, OH WHY, OH WHY-O DID ARMCO'S BRASS LEAVE OHIO?.

The article reports on the plan of corporate raider Carl C. Icahn to pursue his eight billion dollar bid for USX Corp. On October 6, 1986, Icahn made a 31 dollar-per-share cash offer for all USX shares. He already paid 651.7 million dollars for an 11.4 stake in USX using the cash and borrowing power of Trans World Airlines inc. and ACF Industries Inc.

The article reports on the management of Douglas D. Danforth, who is chairman of the Westinghouse Electric Corp. Douglas D. Danforth made a lot of changes in the company's structure and line of businesses to increase its revenue and stocks while benefiting both the shareholders and the company. His actions include pulling out the least profitable operations, spending on automation and improvements, and a planned acquisition of other companies.