Word: clipping
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What Is a Conglomerate? So far this year, major U.S. business mergers have been moving at a record clip of 150 a month. But what sets the present wave of mergers apart is not so much its volume as its nature. Over 70% of the mergers have been of the conglomerate variety. The reason for this is that antitrust rulings have virtually outlawed "horizontal" mergers (between competitors) and, to a lesser extent, "vertical" ones (with suppliers or customers). As a result, today's merger-minded companies are looking for partners in industries far afield from their...
Behn himself became an anachronism, a courtly man who still relished leisurely, ten-course lunches at a time when the rest of the business world was moving at a breakneck clip. In 1956, a year before he died at 75, Behn finally relinquished his tight grip on the company. About the only achievement of his immediate successors (and Geneen's immediate predecessors) was to drop the ampersand-making it ITT instead...
...considered the best trend indicator. "It's the princess line all over again," says a buyer. Like Ohrbach's, Alexander's was active in the Italian mar ket too. It will display a stunning brown wool trench coat by Heinz Riva with an oversize paper-clip belt ("Everything is belted this year-the belts go any place from right under the bosom to down over the hips...
Nearly every baseball fan knows -whether he likes it or not - that one of the teams in the World Series is al most surely going to be the St. Louis Cardinals, who were rolling merrily along at a .630 clip last week and leading the National League by 11½ games. The other team? That, to understate the case, is a matter of argument. In the first four months of the American League season, no fewer than eight teams either held or shared the lead...
Even though the Federal Reserve has been squirting money into the U.S. economy all this year at a clip ordinarily fit to make loans grow cheaper, the result instead has been a persistent rise in interest rates. Last week American Telephone & Telegraph Co. borrowed $250 million for 33 years at the highest interest cost it has ever paid for long-term bonds: 6.006% a year. A. T. & T.'s old record, 5.95% for $100 million of 20-year debentures, had stood since...