(Ups) to Philip Odeen. The TRW chairman fended off Northrop Grumman’s hostile takeover attempts long enough to force the California-based aerospace company to significantly up the ante for TRW shareholders. While still controversial, it turned out to be a good deal. The down side is that the move costs Cleveland its largest Fortune 500 firm.
(Downs) to Larry Dolan. He should have been upfront with the fans when he bought the team. If he couldn’t afford to run a competitive baseball team under MLB’s existing economic conditions, he shouldn’t have anted up the purchase price. Now the question is whether the fans will stick around long enough to fund this rebuilding phase.
(Downs) to corporate executives who aren’t held accountable for their actions. This year will go down in history as the year when consumers and investors lost their patience for and confidence in Corporate America. Honesty and integrity must return to the boardroom and executive offices or the future holds more doom and gloom.
