Word: mergers
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Dates: during 1980-1989
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...recent Crimson article entitled "Horner Back on the Job at Radcliffe" said that President. Horner "presided over the historic merger between Harvard and Radcliffe Colleges." It should have said that the Radcliffe president presided over the historic 1977 agreement between Harvard and Radcliffe that gave Harvard total responsibility for the instruction and management of all undergraduate affairs. In that agreement, Radcliffe retained its status as a separate corporation...
...corporations, it is the mountain of debt that has been created by a spate of fierce merger wars. Consumers who have been seduced by easy credit know it as the flood of bills that arrive each month. For the Government, it is the largest and most menacing budget deficits in U.S. history. From whatever vantage point it is viewed, Americans have been on a frantic borrowing binge. And that vast accumulation of IOUs has become a frightening threat to economic well-being...
...expects the Hertz deal to meet with Justice Department approval, although that is not assured. In 1974 the company tried to buy Hertz's archrival Avis but pulled back when the Government said that the merger might be anticompetitive. "We will take a close look at any acquisition of this size," said a Justice Department official last week, "and we will want to see if it hurts competition." The Reagan Administration, though, has been generally favorable to mergers. The odds are that it will not scrub United's new flight plan...
...merger will end the independence of an airline that began in 1928 as a rail-and-air service whose first route was plotted by Charles Lindbergh. Owned briefly by General Motors in the 1930s, TWA fell into the hands of Howard Hughes in 1939. The eccentric tycoon initially fostered rapid growth but later nearly wrecked the company with indecisiveness. Hughes sold his stock in 1966. During the 1970s, TWA ventured heavily into the hotel and food-service business, which turned out to be far more profitable than the airline. Stockholders spun off the carrier as a separate company in February...
Airlines that fail to slash costs during the next several years may wind up bankrupt, as Air Florida did last year, or be forced into a merger with more aggressive partners. One of the most likely candidates for a takeover, or even demise, is Pan Am, which has lost some $770 million since 1981. Though the company bought more time for itself by selling its Pacific routes to United, it has almost nothing left to dispose of without going out of business...