Word: acquiree
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The architect of Hyundai's rise is Chung, who was named chairman in 1998. Although his father, Chung Ju Yung, founded Hyundai Motor in 1967, it was clear the son would not get a free ride. Shortly before his appointment, the Korean economy had been slammed by the 1997 Asian...
Still, some companies continue to range outside their industries. Ford Motor last week agreed to acquire San Francisco-based First Nationwide Financial, owner of the ninth-largest U.S. savings and loan, for nearly $500 million in cash. The purchase will expand Ford's credit business, which now includes financing the...
The thriving service economy has presented investors with many opportunities, but nothing quite like the stock of Strong Point, a little-known Irvine, Calif., real estate firm. In its strategic plan to diversify, Strong Point has fixed on an unlikely industry: prostitution. Last week the publicly traded company paid $18...
Beatrice last week received word of a different kind of proposal that the firm may wish to ponder. It came from Warren Avis, founder of the Avis car-rental company. The entrepreneur, who sold Avis in 1954, said he wants to buy it back from Beatrice, which has owned the...
Jackson contends that the careless handling of supplies made it possible for a recently discovered international ring of dealers in aircraft parts to acquire sophisticated components from the Kitty Hawk. Seven people, including two Navy men, have been charged by the Justice Department with smuggling at least $5 million worth...