Word: merger
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Dates: during 1950-1959
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...Washington last week, the leaders of the 10 million-member American Federation of Labor and the 5,000,000-member Congress of Industrial Organizations met to clear away a big obstacle to their merger: What should the new organization be called? The 73-year-old A.F.L. jealously held out for its own name; the younger,19-year-old C.I.O. wanted a compromise, e.g., American Congress of Labor. Eventually, the leaders agreed upon a 24-syllable combination: American Federation of Labor and Congress of Industrial Organizations (A.F.L.-C.I.O...
...into Black. Many of the second-quarter reports dramatically underlined the uprush in sales achieved by almost every U.S. company. American Motors (Nash, Hudson), struggling against odds to improve its share of the auto market, had the first profitable quarter since its merger (May 1, 1954). Earnings hit $1,592,307 against a loss of $3,848,667 during the same period last year. Caterpillar Tractor also did better this year, earning $8,390,403 in the second quarter v. $7,007,326 a year ago. Glen Alden Corp., after suffering through years of a coal depression, earned...
Into the orderly merger between Farm Journal, No. 1 U.S. farm magazine, and Country Gentleman, No. 2 (TIME, June 20), the Federal Trade Commission last week dropped a monkey wrench. In a complaint filed under the Clayton Antitrust Act, FTC charged that the merger would give Farm Journal-Country Gentleman "approximately 51% of the total net paid circulation among the six largest competitors in the farm magazine field"-though only 24% of total farm magazine circulation-thus "lessen competition" and "tend to create a monopoly." The news surprised Farm Journal President Richard Babcock, who said that the FTC made...
APPLIANCE MERGER will join three big firms into a single company with assets of $130 million. Under the deal, Whirlpool Corp. (home laundry equipment), Seeger Refrigerator Co. (freezers, etc.), and RCA's air-conditioning and appliance departments (stoves and air conditioners) will merge into a new firm to be called Whirlpool-Seeger Corp. (Sears, Roebuck & Co. owns a big stock interest in both Whirlpool and Seeger, currently markets many of their products...
SPORTING-GOODS MERGER will put A. G. Spalding & Bros, in a neck-and-neck race with Wilson for top position in the industry. Spalding, now second with 1954 sales of $27.2 million, is negotiating a deal to acquire Rawlings Manufacturing Co., the fourth biggest company, with estimated annual sales of nearly $12 million. Combined sales of Spalding-Rawlings are expected to equal or surpass those of Wilson, which is a division of Wilson & Co. meat packers, thus does not announce its annual sales figures separately...