On 1 February 1992 Ron Carey was sworn in as the first Teamsters (International Brotherhood of Teamsters) president elected by the rank and file of the union.

In 1993 James Champy's and Michael Hammer's book, Reengineering the Corporation: A Manifesto for the Business Revolution was published; it quickly became the "downsizer's bible."

In April 1998 Robert L. Crandall retired as president of American Airlines; during his eighteen-year tenure the airlines initiated such innovations as frequent-flyer miles and super-saver fares.

In 1995 Millard S. Drexler took over the clothing chain Gap, Inc.; by 1999 he had turned the once-stagnant company around, posting profits around 30 percent above average, at a time when many retail stores were only averaging 5 percent above normal profits.

On 16 March 1992 Robert J. Eaton, head of the profitable European operations of General Motors Corporation, joined auto manufacturer Chrysler Corporation as successor to Chairman Lido Anthony "Lee" Iacocca...