Word: consortium
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Dates: during 1990-1999
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Boardrooms were buzzing from Bangkok to Boston last week over word of an impending alliance between industrial powerhouses Daimler-Benz and Mitsubishi. Daimler-Benz, maker of the best-selling Mercedes-Benz automobiles and a partner in the Airbus consortium, is West Germany's largest industrial group. Mitsubishi, with interests ranging from electronics to real estate, surpasses all of its Japanese rivals. Emerging from talks in Singapore, representatives of the two firms said they are negotiating joint ventures that would link their businesses in the auto, aerospace and consumer-electronics industries...
Other media giants are exploring similar new satellite-dish technologies. Last month a consortium led by General Electric, Time Warner and Tele- Communications said it planned to offer U.S. viewers a ten-channel satellite service by early fall. The companies said the system would deliver basic cable shows to noncable households and additional programming to cable subscribers...
...Canadian consortium formed to invest in Eastern Europe purchased half the General Banking & Trust Co. of Budapest, the city's oldest bank, for $10 million. American cosmetics heir Ronald S. Lauder is the chairman of the group, the Central Europe Development Corp...
Even when the Government gives its blessing, U.S. microchip makers cannot bring themselves to collaborate. Their deep-down resistance to joint efforts came to the surface last week with the scuttling of U.S. Memories, a consortium formed seven months ago by American firms to compete in the Japanese-dominated market for memory chips. With such powerful backers as IBM and Digital Equipment, U.S. Memories planned to build a $1 billion plant to produce chips for everything from personal computers to missile-guidance systems. But a worldwide glut of memory chips, which has pushed prices lower, prompted many would-be investors...
Bush never wanted a new plane. Ronald Reagan never asked for one either. This was a classic case of creation by consortium: a dozen or so offices and agencies doing their jobs as best they know how. Nobody looked up and saw that their individual efforts had created a monster...