Word: mergers
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...rapid maneuvers, Texas Air has emerged as the high flyer in the country's fierce merger wars. On Oct. 1 Northwest Airlines formally merges its flight schedule with Republic's, creating what will be the fifth largest U.S. airline, with 9.4% of the market. Trans World Airlines, which gained DOT % approval early this month for its $250 million purchase of Ozark Air, will soon be the sixth-place carrier (8.1%). Two weeks ago Delta Air Lines announced a bid to take over the fourth-place spot (11.9%) in the passenger race with an $860 million play for Western. Warns...
...fact is that past fare wars have been one of the chief causes of the recent Darwinian merger wave. Says Economist Alfred Kahn of Cornell University, who is widely viewed as the father of airline deregulation: "Instability is the price we pay for competition." Indeed, some 150 airlines have filed for bankruptcy or ceased operation since 1978, as the industry has lurched from occasional feast to occasional famine. The low point for deregulated airlines came in 1982, when the industry suffered an $800 million operating loss. The best unregulated year was 1984, when industry-wide profits hit $2.3 billion...
...consult. He just looked for good deals, an elusive goal for many corporate chiefs. In the late 1960s, Tisch started playing the takeover game. His first catch was Lorillard, maker of Kent and True cigarettes. In 1968 Loews acquired the company in a friendly deal, but soon after the merger was completed, Tisch, taking an active hand, forced out the company's chief executive. No sense in sitting back and watching an acquisition turn sour, he believed. Lorillard profits subsequently showed stronger growth under Loews management...
...said to be among the first to raise the topic of CBS's purchase by another firm. Some of the directors were disturbed by reports, including those in a Newsweek cover story on CBS's troubles, that Wyman had talked to officials at several companies about a possible merger. (TIME has learned that feelers were indeed received by Philip Morris.) According to one of those present at the Ritz-Carlton, the directors considered such a purchase a bad idea; Paley was especially opposed. As a board source later explained, "We don't want the management of a big company that...
...West. Syria not only rejects the existence of an Israeli state, it has little use for a Palestinian state. Syria and its favorite Lebanese terror group, the Syrian Socialist Nationalist Party, have a different vision. An Associated Press dispatch summarizes it nicely: "The secular SSNP seeks the merger of Lebanon, Syria, Jordan, pre-Israel Palestine, Iraq, Kuwait and Cyprus" -- Cyprus! -- "into a Greater Syria...