JÜRGEN DORMANN
Former Chairman and Chief Executive Officer of ABB, a Zurich-based engineering company. ABB was dealing with asbestos lawsuits and an economic downturn, which put the company deeply in debt, when Dormann took it over. But by the 1st quarter of 2004, ABB showed signs of turning itself around. In 2007, he retired from ABB. A company-sponsored foundation was named after him to offer scholarships to electrical engineering students in the world. Dormann had worked with Hoechst, BG Group, IBM, Metall Zug, Sulzer Ltd., and Adecco.
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Target Return
Pricing model used in valuing a business based on what an investor expects from any capital invested in the firm. It is computed by adding the amou ...
Remainder Man
An individual who receives the remaining principal in a trust account after all required payments have been made, such as those to the beneficiary ...
Average Collected Balance
The total average of the collected funds in a bank account in a month. The balance is calculated by adding the collected balance and dividing it by ...
Bankable Funds
Forms of payment that are accepted at financial institutions. Retailers and other organizations that directly accept payments from customers typica ...
Prudent-Person Rule
A legal maxim that restricts the discretion in a client's account to investments that a prudent person seeking reasonable income and preservati ...
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