Word: cna
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...missiles might be emotionally satisfying and politically compelling in Taiwan," says James Mulvenon, an Asia expert at the Rand Corp., "but they are not in the U.S. national interest." Michael A. McDevitt, a retired U.S. Navy admiral who is now with the CNA Corp., a Virginia-based think tank, says the deterrent effect is also questionable: Beijing is unlikely to be cowed if it really wants to invade. Offensive missiles for Taiwan are "really stupid," McDevitt says. That's one analysis the U.S. and China can probably agree...
...Knut Kloster Jr., a cruise-industry veteran whose father founded what is now Norwegian Cruise Line. Kloster originally planned a ship with 286 condos and 183 hotel rooms. After scaling back, he was able to attract investors, including the Continental Casualty Co., a subsidiary of Chicago-based insurance giant CNA Financial Corp. But to persuade penta-millionaires to buy, ResidenSea assembled a cadre of credible associates, including its blue-chip investor Silversea Cruises, which will manage maritime and hotel operations. ResidenSea also marketed through sophisticated make-believe. Inside a factory near Vienna, the company built condo mock-ups so inviting...
...hushed but urgent campaign to prevent the influential Business Roundtable from endorsing a more modest alternative to the President's 1,300-page plan. White House economics chief Robert Rubin and Deputy Treasury Secretary Roger Altman telephoned insurance-company CEOs at Prudential, Chubb, American International Group and CNA to urge them not to endorse the rival plan, backed by Representative Jim Cooper of Tennessee and Senator John Breaux of Louisiana. But the Administration's pre-emptive strike met with resistance. Late Friday an informal straw poll of the Roundtable's policy committee turned up broad support for Cooper-Breaux...
Perhaps Tisch's finest acquisition was also his toughest. In 1974 he fought for nine months to take over CNA Financial, an insurance company that battled to remain independent. Tisch won; Loews owns 80% of the company. After the purchase, Tisch put in place a new chief executive. Today CNA is Loews' most profitable division. Still, Tisch felt bruised by the struggle and vowed never again to launch a hostile takeover...
...from their parents to buy a single resort hotel, called Laurel-in-the-Pines, in Lakewood, N.J. By 1955 they had twelve hotels, and in 1960 they hit the big time by buying control of Loews Theaters. After a quarter-century of further growth and acquisitions, including takeovers of CNA Insurance and Lorillard Tobacco, the Tisches run a company with assets of more than $12.5 billion. The brothers have amassed personal fortunes that total an estimated $1.7 billion...