Word: corps
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...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 sell in the U.S. under their own brands. Chances are, the average American may own an LG-made product...
...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...
...company broke a promise to investors and pledged $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...
...DIED. JAMES M. ROCHE, 97, a 44-year veteran of General Motors Corp. who rose from statistician to chairman and ceo; in Belleair, Florida. Roche was credited with expanding equal opportunity at the company, including bringing in GM's first African American board member, but he was also forced to issue a public apology in 1966 for the company's efforts to discredit consumer advocate Ralph Nader, whose book Unsafe at Any Speed questioned the safety of GM's Corvair...
...Helping CCTV International may give News Corp. the upper hand over other foreign TV programmers who want a piece of China's market. "Rupert [Murdoch] is medium-term savvy and long-term wise," says an official with another international media company. Placing a consultant inside CCTV headquarters in Beijing "further entwines News Corp. and CCTV." And Murdoch's man Terenzio slipped in without so much as a hail from the soldier at the gate...