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...more successful with Samsung's success." LG's first crack at the U.S. market ended in disappointment. Beginning in the 1980s, LG sold cheap TVs under the brand Goldstar, after the company's former name, Lucky-Goldstar. In 1995, LG purchased American TV maker Zenith Electronics Corp. and began using that moniker on its products. But four years later, Zenith filed for bankruptcy, a victim of cutthroat competition. To avoid a repeat of that failure, LG was content until recently to supply other companies with appliances that they sell in the U.S. under their own brands. These days, however...
...company broke a promise to investors by pledging $130 million to buy bonds of a nearly bankrupt affiliate, credit-card issuer LG Card. Kim says his company joined in because a failure at LG Card would have damaged LG's image. Michael Lee, an executive vice president at LG Corp., the conglomerate's holding company, says affiliates had a "moral obligation" to help out and calls the LG Card case an exception. The LG chaebol, he says, has reorganized its shareholding structure to allow affiliates to be managed more independently. Because of concerns relating to its being a chaebol...
...transaction marks the end of an ambitious year of expansion for Loveman’s Harrah’s. The company has also acquired Horseshoe’s Gaming Holding Corp. and Binion’s Horseshoe Hotel & Casino in Las Vegas over the past 12 months...
Gentlemen, start your hair dryers. In announcing his new running mate last week, John Kerry claimed that the Democrats have "better hair" than their opponents. But a recent poll by the Wahl Clipper Corp. showed that Americans actually prefer George Bush's hair to Kerry's (51% to 30%). Will John Edwards' coif make a difference? Does hair really matter in presidential elections? It seems to, surprisingly often. TIME investigates...
...racer who developed some of the most notable ski resorts in the Rocky Mountains; in Carbondale, Colo. After retiring from competition--with 17 national titles, an achievement that later got his face engraved on the medal awarded by the U.S. Ski Association--he became manager of the Aspen Skiing Corp. in 1947, ultimately transforming a three-run mountain into an international resort destination...