In Business This Week
REVERSING A PRATT FALL?
Karl Krapek has led turnarounds at Pontiac and at United Technologies' Otis Elevator and Carrier. But the job Krapek got on Dec. 8 makes his other assignments look like spring training. UTC President George David has called on Krapek, 44, to take the reins at UTC's deeply troubled Pratt & Whitney unit, a maker of jet engines that is in the midst of a massive corporate overhaul prompted by a sharp drop-off in orders from plane makers.
Krapek will have to accelerate the shuttering of aging plants, modernize manufacturing, and continue to reduce the work force--1,470 workers got pink slips four days after Thanksgiving. A further 3,300 will be gone by midyear. It's not a pleasant assignment, but based on his record, Krapek seems suited for it.EDITED BY HARRIS COLLINGWOOD