Word: mergers
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Dates: during 1980-1989
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Atlanta-based Delta Air Lines has long dodged the merger dogfights that have broken out all over the skies. Rather than pursue competitors, prosperous Delta (fiscal 1986 profits: $47.3 million) has grown by adding hubs in Dallas and Cincinnati. Last week Delta tacitly admitted that such a strategy might be a bit timid for these turbulent times. Seeking to become a force in the West, the carrier announced that it was buying Los Angeles-based Western Air Lines for $860 million. If approved by the Department of Transportation, the deal would give Delta two new hubs, in Salt Lake City...
Three Business School finance experts yesterday told a group of Wall Street Journal-clutching alumni that rapid, major changes in capital markets including merger-mania and growing global integration have significantly altered the money profession in the past 10 years...
...expert has moulded Harvard's metamorphosis in several key areas: the endowment more than tripled to $3 billion; graduate schools, like the Kennedy School of Government, have rapidly expanded; and, in what Bok calls the most significant change of all, undergraduate life became co-educational when Radcliffe signed a merger agreement with Harvard...
...starting in 1980. A lawyer by training, Wright began working for GE in 1969. He has been a close Welch ally since 1973, when he joined the GE plastics group that Welch then headed. Wright is said to have been a major behind-the-scenes force in organizing the merger of GE and RCA. His background suggests a distinct change from the relaxed management style and well-established Hollywood connections of Tinker, who moved the network from the ratings basement to No. 1 during his five-year reign...
...long bid to buy Conrail, the now profitable Government- owned rail system. Early last year Transportation Secretary Elizabeth Dole had selected Norfolk Southern as the best qualified of 15 bidders to buy Conrail's freight-hauling business for $1.2 billion. Last February the Senate approved, and the much bruited merger seemed to be on track...