Word: mergerer
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...Benz and Chrysler, who went public with their wooing Wednesday. Why? Because the dowry would be huge: Sources close to the deal say Daimler would buy their bride for $35 billion, a full $8 billion above Chrysler's market value. Such a wedding would make for the largest industrial merger in history...
Columbia, which was founded in 1989, attained its current status after a merger with...
...wealth cards.' For example, you will be able to pay for your sports car by instantly drawing on part of the wealth inherent in your vacation house." Finance, suddenly packed with microchips, could become a banker-free zone. Hence the drive of McColl, who is responding to an immutable merger of the laws of finance and the laws of modern business: reinvent yourself...
...profits, totaling $18.5 billion. Last year a report by the U.S. Public Interest Group (USPIRG) found that consumers paid 15% more to maintain a regular checking account at a big bank than at a small bank. Similar results were found by a Federal Reserve report to Congress last June. "Merger mania is making the fee-gouging big banks even bigger," complains Ed Mierzwinski, consumer program director for USPIRG. "Fewer and bigger banks mean consumers face fewer choices, less competition and even higher fees...
Consider First Chicago, which encourages those with Self-Service checking accounts to use ATMs by charging $3 for a visit to a live teller for some transactions. First Chicago announced a merger last week with Banc One Corp. Banc One, based in Columbus, Ohio, does business in 12 states and charges account holders if they use one of its own Rapid Cash Machines. "[The banks] say these mergers create efficiencies," says Mary Griffin of Consumers Union. "But with the efficiencies there is a dis-economy of scale, which costs consumers more." In other words, it costs to save. That...