Word: groupees
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As regulators took over Mutual Benefit, France's Groupe Axa S.A. agreed to invest $1 billion in Equitable Life, the third largest U.S. life insurer. The deal will give Axa at least a 40% stake in the company. Equitable, plagued by troubled real estate and junk-bond investments, had been...
The French gave the world the word entrepreneur, but they have not given it many entrepreneurs. Most French businessmen still look to the government for cues and favors rather than trying to make quick profits on their own. Bernard Tapie, 47, is one of a new breed who is changing...
Tapie made his first million dollars by the age of 39, and in 1985 Groupe Tapie had revenues of $1 billion. By the following year, it was operating 116 factories in 28 countries. Recently, though, he has been selling assets and trimmed sales to $180 million. If Tapie succeeds in...
Given a choice between two product lines, one thriving and the other struggling, most companies would have no problem deciding which one to embrace. But for Zenith, the decision was painful. The suburban-Chicago company surprised the high-tech industry last week by agreeing to sell its prosperous computer division...
For Eurotycoons the U.S. may be an attractive investment, but for most West Europeans home is now where it's happening. Vice President Dan Quayle's campaign claim that the U.S. "is the envy of the world" puzzled many prosperous West Europeans. Though still much admired, America, with its violent...