How business, doctors and journalists prey on your food anxieties I
How business, doctors and journalists prey on your food anxieties I
How business, doctors and journalists prey on your food anxieties I
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~ear, cellular operators, dri%en bv intense<br />
competiti<strong>on</strong>, hace made 1 .000<br />
price changes, %chich means plennof<br />
sofncare updates for cats .<br />
This subsidian's sales last cear ~rere<br />
S3-k-I milli<strong>on</strong> . <str<strong>on</strong>g>and</str<strong>on</strong>g> last year Cus renewed<br />
its biggest c<strong>on</strong>tract, with<br />
~Cs:r/McCaN% ' Cellular to print its<br />
bills through 1999, a deal ssoreh an<br />
estimated S600 milli<strong>on</strong> . Although<br />
\fatriss Marketing, cais <str<strong>on</strong>g>and</str<strong>on</strong>g> a few<br />
smaller unregulated <str<strong>on</strong>g>business</str<strong>on</strong>g>es tie up<br />
just 35% of their parent's assets, the}nou• c<strong>on</strong>tribute about half the parent's<br />
total re% enues <str<strong>on</strong>g>and</str<strong>on</strong>g> operating<br />
protits . Meamtihile, LaAIacchia is<br />
girding for the expected <strong>on</strong>slaught <strong>on</strong><br />
his basic teleph<strong>on</strong>e <str<strong>on</strong>g>business</str<strong>on</strong>g> .<br />
"Competiti<strong>on</strong>," sighs LabSaediia,<br />
"is inevitable ." Cincinnati Bell has<br />
been spending hea~ily-S113 milli<strong>on</strong><br />
last vear-to upgrade its teleph<strong>on</strong>e<br />
s~6tching capacin• . It has also coaxed<br />
some 1 .300 workers into eaulv retirement,<br />
part of a plan to cut expenses bY<br />
at least S50 milli<strong>on</strong> a vear .<br />
He is fighting a rearguard acti<strong>on</strong> to<br />
delae the competiti<strong>on</strong>. When the<br />
Public Utilities Canmissi<strong>on</strong> of Ohio<br />
agreed to hold hearings in 14asto<br />
grant licenses to three ~could-be competitors-inciuding<br />
Time Wamer in<br />
the Cincinnati market-Laltacdiia<br />
sued the wmmissi<strong>on</strong> .<br />
Cincinnati Bell's opp<strong>on</strong>ents complain<br />
that La-Macchiais using his law-<br />
Yers to stall competiti<strong>on</strong> . La1V•Iacchia<br />
says he's merclv flghtuig for rules that<br />
will let his companv compete <strong>on</strong> an<br />
equal tooting . This cauld mean raising<br />
rates for some subsidized cust<strong>on</strong>r<br />
ers-a political hot potato-while<br />
lowering rates to lucrative <str<strong>on</strong>g>business</str<strong>on</strong>g><br />
<str<strong>on</strong>g>and</str<strong>on</strong>g> affluent residential customers .<br />
Othernise, competitors n°ithout the<br />
obligati<strong>on</strong> to sene all c<strong>on</strong>sumers<br />
could simpiv undercut rates <str<strong>on</strong>g>and</str<strong>on</strong>g> take<br />
<str<strong>on</strong>g>business</str<strong>on</strong>g> awav, A Cincinnati Bell executive<br />
testitied to the commissi<strong>on</strong> that<br />
without the needed protecti<strong>on</strong>s, it<br />
could lose uo to 60% of local market<br />
share . "For us, this (iocal ph<strong>on</strong>e ser-<br />
%-ice] is the whole bail game," savs<br />
LaMacchia . "No other compaiw our<br />
size has as much inrested in a single<br />
regulatnn'jurisdicti<strong>on</strong> . Ifwe d<strong>on</strong>'t do<br />
it right, shame <strong>on</strong> us <str<strong>on</strong>g>and</str<strong>on</strong>g> shame <strong>on</strong> the<br />
regulators," _<br />
In <strong>on</strong>e sense John La.\Iacchia has a<br />
~ceak h<str<strong>on</strong>g>and</str<strong>on</strong>g>, but give him lots of credit,<br />
He's plm-ing it right smm-tk. M<br />
Roger Farah made an easy $14 milli<strong>on</strong><br />
last year, But this year he is going<br />
to earn every dime he gets,<br />
Woolworth's<br />
woes<br />
By Phyllis Berman with Caroline Wzder<br />
\VEvE ALL HEARD <str<strong>on</strong>g>and</str<strong>on</strong>g> read about<br />
o erpaid e .ccuti ves, but Roger Farah<br />
takes the prize . Farah got S 14 milli<strong>on</strong><br />
for less than four m<strong>on</strong>ths' work . He<br />
began as president of RH . 'viacv &<br />
Co . in Julv 1994, <str<strong>on</strong>g>and</str<strong>on</strong>g> \Nas a couple of<br />
~reeks <strong>on</strong> the job when Macy agreed<br />
to merge with Federated Department<br />
VJaotrrorfh Chiei E;ecutive Xcer Roger Farah<br />
He wanted challenges .<br />
He's got them .<br />
Stores . Just before Christmas the deal<br />
«as d<strong>on</strong>e <str<strong>on</strong>g>and</str<strong>on</strong>g> Farah walked awav with<br />
the .S ] .-F miili<strong>on</strong> he had been guaranteed<br />
in the eent of a change of<br />
c<strong>on</strong>trol ofthe compan} .<br />
Farah had no trouble l<str<strong>on</strong>g>and</str<strong>on</strong>g>ing anotherjoh<br />
. Asuave,c<strong>on</strong>fident42-cearold,<br />
his reputati<strong>on</strong> was hrmh• cstab-<br />
Furh