Word: flagship
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...report its own demise. Owing $142 million and losing money, Financial News Network Inc. was headed for oblivion until, last week, it finally accomplished what it had been trying for five months: it sold important assets and raised cash. Dow Jones and Westinghouse Broadcasting jointly bought the flagship FNN cable news channel plus the company's weekend sports service, its syndicated program This Morning's Business and a radio news service for about $90 million...
...airline workers worldwide, from machinists in Kansas City to flight attendants in Amsterdam, have lost their jobs since January. USAir, which reported $221 million in losses for the fourth quarter, last week laid off 3,600 workers. Belgium's national airline, Sabena, and Spain's flagship carrier, Iberia, each announced plans to eliminate more than 2,000 jobs. British Airways, which suffered a 72% profit decline last quarter, cut 4,600 jobs while mothballing five Boeing planes worth $1.5 billion...
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...