Word: mergers
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Dates: during 1950-1959
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Despite all this, competition in 1954 will be fierce. Last year saw one big auto merger (Kaiser-Frazer and Willys), and heard rumors of another (Hudson and Nash); 1954 may bring more of the same as independents battle to keep their share of the market. Meanwhile, General Motors' Harlow Curtice plans to spend $300 million in expanding production...
...could take his meals inexpensively at his club. When every undergraduate was forced to live in a college room and pay for all his meals, some club members could not afford the double expense and several clubs had to shut down. The thirties were also an era of merger and expansion. For example, the Phoenix and the Sigma Kappa, this latter a hold over from the fraternity years, combined and went final. And the clubhouse of Spee, a group which 80 years before had been the Harvard chapter of Zeta Phi, was typical of the building and decorating...
Under the merger, which stockholders of both companies must still approve, Philip Morris gets Parliament cigarettes, and thus a sizable chunk of the fast-growing filter-tip market. For the popularity of his filtered cigarettes, Cullman is cashing in handsomely. His share-for-share swap of stock with Philip Morris will place a value of approximately $22 million on the company, whose control (55%) was bought for only $1,000,000 twelve years ago by the Cullman family's investment trust, Tobacco & Allied Stocks, Inc. Since Cullman, his brother Howard, chairman of New York's Port Authority...
Both the key men in the merger have spent most of their lives in tobacco. British-born Alfred Emanuel Lyon has been selling cigarettes ever since he arrived in New York in 1912 and asked Tobacco Products Corp., the makers of Melachrinos, for a job. "We don't need anybody," he was told. "Oh," said Lyon, "then you're selling all the Melachrinos you want?" He got the job, and by the time his employers launched Philip Morris cigarettes in 1933 he was a star salesman...
...regions, still a basis for one already exists. Canada and Australia already have systems comparable to America's, while England, not far behind, is willing to tighten up. On the other hand, countries like France and Italy, endowed with a Communist menace, would have no place in such a merger...