Word: avise
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General Motors was in no mood to hold back last week. Dispirited by slumping profits and weary of accusations that it produces bland, look-alike autos, the company decided that it needed to give car buyers a peek at coming attractions. In a surprise marketing step, GM's Chevrolet division...
In the '70s packaged-food companies went on a buying binge, gobbling up disparate lines of business that ranged from luggage to toys to women's clothing. Now many are discovering that their eyes were bigger than their stomach, and they are getting back to basic areas of expertise. The...
In the market for large computers there are no sporting rivalries like Coke vs. Pepsi, Hertz vs. Avis, or Heinz vs. Hunt's. It is only IBM against the field. Big Blue controls almost 63% of the worldwide market, while an assortment of relatively puny competitors gets the rest. But...
Wall Street Financier William Simon is renowned for buying companies with borrowed money and then managing to reap huge profits on his in vestments. Last week he was at it again. Simon's Wesray investment firm agreed to acquire Avis, America's perennial No. 2 car-rental firm, from Beatrice...
Simon, who served as U.S. Treasury Secretary under President Nixon, and his Wesray partner Raymond Chambers have put together 20 acquisitions over the past 5 1/2 years. In the Avis deal, Simon apparently outbid none other than Warren Avis. The Avis founder sold control of his company in 1954 but...