Doerfler, now CEO of Theramed in Rockville, says Barrett watched the company's finances like a hawk, signing every check that left the building. He knew where all the money went. Norm Augustine realized early in the 1990s that in an era of declining defense budgets, military contractors would have to consolidate in order to survive. But while he maintains the pairing went smoothly, the company has had to lay off thousands of workers and its stock has been pummeled. In 1998, Augustine was dealt his biggest business disappointment when Lockheed Martin and Northrup Grumman canceled merger plans in the face of opposition by the U.S. Department of Justice.
Business is that way.
Sometimes things don't go the way you planned. Through his persistence, former MCI CEO William McGowan helped change the telecommunications landscape-and helped put Washington on the map in the telecom sector. Originally, MCI wanted to cooperate with the telephone giant, says Michael Bader, a former member of the company's board of directors. But negotiations with the company quickly broke down. They thought we'd wither and die.