Word: lorillards
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Dates: during 1960-1969
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Most white Americans will never hear that hip version of the popular Kent jingle, which is sung by a chorus of wailing voices against a background of driving rhythm and blues music. It is beamed only over black radio stations to black audiences. P. Lorillard, the manufacturer of Kent, is one of a growing number of U.S. companies that are making a special effort to woo Negro consumers, who spend an estimated $30 billion a year. In particular, tobacco companies, department stores and cosmetics makers have all found the soul sell an effective conduit to Negro buyers. Because...
...462?ten times as many as in 1950?and most were conglomerate mergers. Hardly any corporation, no matter how large, seems wholly safe from the grasp of conglomerates. During the past two years, conglomerates have absorbed or gained control of such big and basic enterprises as Jones & Laughlin Steel, Lorillard, Wilson, United Fruit and Armour. Lately, relative newcomers to the corporate scene have attempted to take over Sinclair Oil, B. F. Goodrich, Allis Chalmers and mammoth A & P. Even Pan American World Airways, long considered to be practically an unofficial agency of the U.S. Government, feels threatened by Resorts International...
...rebound principle apparently works in matters of business as well as affairs of the heart. Early this year, when cigarette-making Lorillard Corp. tried to merge with Schenley Industries, it was rebuffed in favor of the Glen Alden Corp. Meanwhile, Loew's Theaters Inc. was scorned when it attempted to merge with Commercial Credit Corp., which opted instead to merge with Control Data Corp. Last week the two losers got together on the rebound. In a complicated swap of Lorillard stock for that of Loew's (value of the exchange: at least $418 million), the two companies plan...
...announcement of the prospective merger between Loew's and Lorillard took Wall Street by surprise. Negotiations had been secretly carried on in suburban Scarsdale, N.Y., where both Loew's Chairman Laurence A. Tisch and Lorillard Chairman Manuel Yellen live. Meeting at the Tisch home in Scarsdale, Tisch and Yellen were able to work out within one week a deal by which Lorillard's product line (Kent, True, Newport, Old Gold and Spring cigarettes, Tabby cat food and Reed candies) will join the 14 hotels and 110 theaters controlled by Tisch and a younger brother. The merged company...
...Reynolds Tobacco had a first-quarter earnings rise over the same period last year of 13.2%, while Lorillard increased earnings...