Word: mergers
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Dates: during 1950-1959
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...fixing and monopoly suit against the Minnesota Mining & Manufacturing Co. and the Carborundum Co., and had refused to permit the U.S. Pipe Line Co. to offer price differentials to oil shippers on a proposed new pipeline. Later, as a private attorney, Bergson got a Justice Department clearance for a merger between Minnesota Mining and Carborundum (which did not take place), and worked out a method of getting the price differential permission for U.S. Pipe Line by guaranteeing that no shipper would use more than 20% of the line's capacity. For these two jobs, Bergson...
...MERGER may be in the offing between the $350 million Frisco System and the $103 million Central of Georgia. The two railroads would connect at Birmingham, and complement each other's business; the Middlewestern Frisco would send its trains east to the Atlantic and the Georgia operate 1,000 miles westward. Talk is at the stage where Frisco President Clark Hungerford is looking over the Georgia line...
...Runabout. The independents also all lost ground to G.M. and Ford in 1953. Their difficult position was highlighted last week by the merger of Nash and Hudson into a new company to be called American Motors Corp. While Nash has been doing well, Hudson sales have been down. By merging purchasing, research and other departments, they figured they could be stronger and save money all around. Together, they form the fourth-biggest auto company in the U.S., with assets of $355 million and more than $100 million in operating capital...
After six months of study, the CAB last week unanimously approved the merger of the nation's two biggest all-freight air carriers, Flying Tiger Line and Slick Airways. Despite loud protests of other airlines. CAB said that the merger would not "result in a-monopoly or ... jeopardize other air carriers...
...Slick Airways, will be the world's biggest air-freight carrier, with a fleet of 60 planes, assets of about $22 million, and approximately 46% of the U.S. cargo business. Revenues of the two companies have been running at the combined rate of $36 million a year. The merger, according to Flying Tiger President Robert W. Prescott, who will run the new company, should result in the saving of some $750,000 by eliminating duplicate facilities. Said he: It is "a major step toward the creation of a strong, independent branch of the air-freight industry...