Word: corp
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Dates: during 1960-1969
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...powered bus and police car. Lear also plans to enter a steamer in the Indianapolis 500, perhaps next year, to help get his message across to Detroit. In fact, there are signs that Detroit has got the message already. Ford has signed an agreement with Massachusetts' Thermo Electron Corp. for joint development of a small steam engine, and General Motors has contracted with Oakland's Besler Developments, Inc. to install a steam motor in a Chevrolet for testing...
Last week, in the biggest venture of its kind for many years, three giants hammered together a joint enterprise. Hartford's Aetna Life & Casualty (assets: $8.6 billion) agreed to go into a partnership with California-based Kaiser Industries and Kaiser Aluminum & Chemical Corp. They expect to move into commercial, industrial, residential, recreational and agricultural real estate. The three will pool $175 million in cash and properties. Among the latter are Aetna's 630-acre Warner Ranch near downtown Burbank, the Kaiser Companies' 6,000-acre Hawaii Kai residential and resort complex in Honolulu...
Insurance companies have entered building to loosen their historic ties to a fixed return on investment; the old policy has lost appeal because of inflation. Last month, Chicago-based C.N.A. Financial Corp., a major insurance combine, agreed to acquire Los Angeles' Larwin Co., the nation's largest privately owned home-building concern (1968 sales: $50 million). The price: $100 million in C.N.A. stock. Prudential Insurance recently bought a half interest in southern California's Westlake Village, a new town being built by Shipping Magnate Daniel Ludwig...
...Chrysler Corp. is investing about $2,000,000 a week to become the landlord of projects ranging from a shopping center in Knoxville to a group of 360 town houses in Ann Arbor, Mich. Olin Mathieson Chemical Corp., the chemical manufacturer, recently bought the Yeonas Organization, a home-building firm in a suburb of Washington, D.C. International Paper picked up American Central Corp., a Lansing, Mich., developer of leisure-time property. The Penn-Central railroad is not only one of the nation's largest real estate owners but also depends on realty income to stay...
...prospered in world trade precisely because of the relatively large size and resources of its companies. The takeover of Jones & Laughlin by an aggressive outsider like Jim Ling could prove something of a welcome stimulus to the clubby steel manufacturers, who commonly follow the lead of the U.S. Steel Corp. in pricing and other policy matters. Even his critics acknowledge that Ling is certainly imaginative. One testimony to the productive efficiency of his company comes from the Government itself, which has made it the nation's seventh largest defense contractor...