Word: aeg
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Dates: during 2000-2009
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...cash hoard Mercedes had built up over decades. In the process, the company, which once prided itself on its provincial roots in Baden-Württemberg, acquired a worldwide scale and presence in both cars and trucks--and bought some absolute dogs. That included a near bankrupt household appliance company (AEG), a teetering airplanemaker (Fokker) and a 37% stake in Japan's inept Mitsubishi Motors. Those and other investments drained management's attention and the company's account; Daimler's share of Mitsubishi's 2002-04 losses totaled more than $1 billion. The company's biggest acquisition, the $36 billion purchase...