Word: flagship
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Dates: during 1990-1999
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Regulators moved swiftly last week to keep the failure at the Bank of New England Corp. from rippling through the region's ailing economy. They acted when nervous depositors withdrew $800 million from the holding company's three major banks, including the flagship Bank of New England, after the firm predicted a loss of up to $450 million for the fourth quarter of 1990. On Jan. 6, a Sunday, the government seized the banks and said it would immediately pump in $750 million as part of a $2.3 billion bailout financed by the FDIC fund. The rescue covered more than...
...children to his castle at the sprawling 200-store Northwest Plaza. In New York City, Macy's staged its lavish Thanksgiving Day parade, towing Bart Simpson and 12 other giant balloons to Herald Square, where a 36-ft.-tall Paddington Bear now hovers invitingly above the entrance of the flagship store. In San Francisco holiday shoppers were making a beeline for the free merry-go-round and other rides on the roof of the Emporium. Across America, retailers are trying all sorts of stunts to get folks inside their stores between now and the holidays. But once there, will they...
Once America's flagship carrier, Pan Am has lost $2 billion over the past decade. After two fruitless years of seeking a buyer or merger partner, the airline has begun to raise cash by selling off its prize assets: international routes. Last month the carrier agreed to sell its U.S.-to-London routes to United for $400 million. Still trying to sell off its Northeastern shuttle, Pan Am is fast running out of marketable assets...
When the small thrift ran into trouble during the inflationary climate of the mid-1970s, it was taken over by Denver businessman James Metz, who saw the sleepy S&L as the future flagship of a financial empire. He named himself chairman and hired Wise, an S&L marketing whiz from Columbia Savings in Kansas, to run the company. The nattily dressed Wise wasted no time in transforming Mile High's small-town image. He launched an ambitious expansion drive, unveiled plans for a glass-and-steel headquarters downtown, and renamed the company Silverado, evoking the dreams of prospectors...
...retailer from the Morse-Harris Group, owners since 1985. Estimated price: $40 million. Once America's top toy merchant, Schwarz was - losing customers by the early 1980s to competitors like Toys "R" Us. But Morse-Harris revived the firm by closing unprofitable locations, moving the flagship store to grander quarters farther up Fifth Avenue and boosting catalog sales. KBB's plans for Schwarz include its first European and Japanese outlets...