Word: merger
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Dates: during 1950-1959
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...Packard finally came to terms last week on "Operation Rescue." The two companies will not merge-at least not right away. But they will tie themselves together under a "joint program" agreement, with Curtiss-Wright running Studebaker-Packard and taking an option on enough Studebaker stock for a formal merger later...
WALL STREET MERGER will join Eastman, Dillon & Co. and Union Securities Corp., two of nation's biggest investment bankers and underwriters. To be called Eastman, Dillon, Union Securities & Co., new firm will have assets of more than $17 million. Combined underwriting business since Jan. 1, 1955: $770 million in corporate issues and municipal bonds...
...Dave McDonald's proudest achievement since becoming president is knocking the wage differential from the contracts of southern Steelworkers, who since 1953 have been getting the same pay as northern workers. Another sizable achievement is that, behind the scenes, he had much to do with arranging the tricky merger of the A.F.L.-C.I.O. last year. Ahead he has two strong ambitions, 1) to be invited to address the United Mine Workers, and 2) to bring John L. Lewis back to the newly united house of labor...
...General Council of the Congregational Christian Churches wound up its week-long convention in Omaha with resolutions against racial bias, liquor advertising, and persecution of witnesses by investigating committees. Biggest achievement: approval (after an all-night argument) of plans for merger with the Evangelical and Reformed Church under the new name, United Church of Christ...
...RAILROAD MERGER between Louisville & Nashville and Nashville, Chattanooga & St. Louis Railway has been recommended by ICC examiner. Under deal calling for stock swap, L. & N. (which already owns 75% of smaller road) will take over N.C. & St. L., combine operations along 5,777 miles of track through 13 Southern and Midwestern states. Though labor unions and Nashville civic groups oppose merger, two roads say it will save $3,000,000 annually in operating costs...