Word: corp
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Dates: during 1960-1969
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Allied Radio Corp. 1,200 $15 $15,300 Montgomery Ward 1,000 33 33,000 Thrifty Drug 500 34 17,000 Von's Grocery...
Promising to clean an 8-lb. load of clothes for $1.50 to $2, they were expected to be just as successful. The Norge division of Chicago's Borg Warner Corp. got into the market early and now has 50% of it. Soon 32 other firms followed-including G.M.'s Frigidaire, Whirlpool, Westinghouse, Philco-and the competition was on. Most of the machines were sold not to established and experienced drycleaners, but to investors who swallowed the high-powered promises of "profits while you sleep." Hard-talking salesmen urged investors to take out 90% loans on equipment worth...
...Sheraton Corp. recently began an overseas push, this week swings open the doors of its 300-room Macuto-Sheraton near Caracas, Venezuela. Rising 258 ft. above Brussels' Renaissance Grand Place is the 250-room Brussels Westbury, which Knott Hotels will open next month. From Dublin to Tokyo, dozens of other de luxe hotels, most of them built under American guidance and often partly financed by U.S. capital, are under construction...
...American giants. Last week the Common Market approved in principle a major reconcentration of the Ruhr's legendary but war-splintered Thyssen steel empire. The six-nation High Authority said that a "favorable decision" can be expected within a month on the petition of the August Thyssen Corp. to buy out the nearby Phoenix-Rheinrohr Corp., which was a part of the Thyssen empire before the Allied occupiers broke it up. The result: a 7,000,000-ton, $1 billion-a-year combine that will vie with Italy's Finsider as Europe's largest steelmaker...
...years ago, the Common Market High Authority balked at a petition to unite these Thyssen family assets. For this, the High Authority was rebuked by the harder-headed Common Market parliament, which argued that the Thyssen-Phoenix combine would produce scarcely one-third as much as U.S. Steel Corp. With world competition sharpening and the Common Market steadily building into one big economy, cartel-inclined Europeans are finding increasing support for their ambitions for bigness. Even in France, which helped break up the German cartels, the business paper Les Echos wrote: "For German heavy industry, cartelization and reconcentration...