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...fact, it was petrol - rationed and costly in late-'50s England - that motivated the old British Motor Corp. (BMC) to develop the first Mini. Its popularity among the minor royals and pop stars in Swinging '60s London gave the Mini cachet; at its peak it was among Britain's best-selling cars. "It was classy because it was classless, stylish because it wasn't styled," says Brian...
Weird, huh? Not in the age of globalization--for that, in effect, is what the General Electric Co., United Technologies Corp. and Honeywell International Inc. have just done. Last year GE outbid UTC for Honeywell; American antitrust authorities approved the merger. But--though the game isn't over--the deal appears to have been nixed by the competition division of the European Commission in Brussels, which is headed by an Italian, Mario Monti. (To continue the Connecticut theme, Monti studied at Yale.) For more than 10 years, the commission has claimed jurisdiction over any merger between firms whose combined global...
Despite being pummeled into bankruptcy, Warnaco's brands still have great value. That--and the fact that they are already in deep--is one of the reasons the banks have loaned Warnaco even more money. But if the bankruptcy court decides to sell off assets, rivals such as VF Corp., Kellwood, Jones Apparel and Sara Lee would be potential buyers. Although technically abrogated by the Chapter 11 filing, the Calvin Klein license, at least for the moment, will probably stay with Warnaco until the judge rules on it. So too, most likely, will Wachner. Her contract includes an estimated...
...some of our fashion-oriented consumers were purchasing elsewhere," says Frankfort. "It's meant to be in style today and at the same time tomorrow's classic." As brand renovations go, Coach's has been heroic. The company went public in October, cutting the cord from parent Sara Lee Corp., a cheesecake-and-underwear conglomerate. The stock price has more than doubled. It fairly trumpeted its third-quarter results, tooting that compared with last year, profits were up 156%, to $7.8 million on sales of $131 million. From here, Frankfort wants to use the same model overseas and coax Coach...
...billion company with a broad array of interests in the Internet, movies, cable and publications?none of which hews to a government line. "This is a classic example of the importance of the WTO to company decision-making," says Matthew McGarvey, an Internet analyst at International Data Corp. in Beijing. "The deal is basically an intention by two debutantes to engage long term. To what degree it will be carried out is yet to be seen...