By David Knoke
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Extra info for Changing Organizations
By 1990, three-quarters of women with school-aged kids worked for pay, as did half the women with children under two years old. Two main factors propelled this transformation: (1) skyrocketing divorce rates and increasing out-of-wedlock childbirths fostered female-headed, single-parent households, many living below the official poverty line; and (2) married couples discovered that the lifestyles to which they wished to become accustomed were increasingly difficult to purchase with a single earner's paycheck (more follows about stagnant wages).
Labor force changed dramatically. White males made up the large majority in 1950. Relatively few women with children under 18 years of age worked outside their homes. Many white, middle class families actually resembled those depicted on such popular TV sit-coms as Father Knows Best and Leave It to Beaver; one employed (male) spouse, a second full-time (female) homemaker, and their two-and-one-half offspring. Starting in the 1960s, the most significant generational change was the mass entry of women into the paid labor force.
Of the Fortune 500 largest manufacturing companies in 1980, one-third were targets of hostile takeover bids and another third ceased to exist as independent businesses by the end of the decade (Cappelli et al. 1997:33). The leveraged buyout wave crested in 1988 when more than 450 mergers and acquisitions that year totaled almost $160 billion and another 120 management-led LBOs spent $60 billion (Useem 1993:24-25). S. history up to that time, an RJR Nabisco management team led by its chief officer Ross Johnson lost a $25 billion bidding war in 1987 against the venture-capital firm Kohlberg, Kravis and Roberts (KKR).
Changing Organizations by David Knoke