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That joint venture has had weak marketing, however, and Mr. Murtaugh described it as "a troubled operation".
There has been great pressure from some members of the Bancroft family, which controls Dow Jones -- principally Elizabeth Goth and William Cox 3d -- to sell the troubled operation.
Time Warner posted solid second-quarter earnings yesterday as America Online, long its most troubled operation, showed continued signs of recovery.
Scottish-born, he joined the board on 1 October 2008 – just a fortnight before Fred "the Shred" Goodwin was ousted as chief executive and the bank bailed out – and was considered a potential candidate to chair the troubled operation at one point.
Kitchen is credited with turning around Lockheed's troubled operation in Georgia as a young executive, saving the C-5 Galaxy cargo jet program.
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Mr. Delany, who is 41, joins a stable of younger executives, including Matthew E. Zames, 41, and Michael J. Cavanagh, 46, known for their skill at turning around troubled operations.
The grant provides for an interim period of up to 18 months during which the City Museum can evaluate whether it can make a go of the Seaport Museum's troubled operations.
In recent years it has been notable for its great prospects, troubled operations, wobbly management and lately its weak share price, down by 20% in the past 12 months.
But financial crisis in much of Asia has done what most analysts would have dismissed as highly improbable only months ago: forced an overseas Chinese business empire to sell key China assets to support troubled operations at home.
Community leaders and environmental groups have accused the company of ruining the environment; the company has been selling or reducing its troubled operations onshore and sticking to those offshore.
It was supposed to be another success story for the Nassau County executive, Thomas R. Suozzi — the financial turnaround of one more troubled county operation.
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