Word: mergers
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Dates: during 1990-1999
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...Greenwald. "The FCC just needs to ensure that there are more than one of these brands in each market." Under the Telecommunications Act, the Baby Bells have to give up their monopoly on the local markets -- and that hasn't happened yet, which is a major hurdle for this merger. But if it's approved, Bell Atlantic, armed with GTE's long-distance service, will have taken a step toward crossover hegemony not seen since pre-breakup AT&T -- and the resultant behemoth would be the nation's second largest phone company, behind its former parent. The FCC just wants...
...weren't alone. Cendant, the result of last year's merger of HFS, a franchise company whose brands included Howard Johnson and Avis, and CUC, a kind of discount-shopping club, dazzled many a portfolio manager. After downplaying its accounting "irregularities" last April, the company last week revealed that the CUC side of the business had actually fabricated nearly $300 million in revenues over three years. The stock, which had rebounded to $25, quickly retreated to the high teens. It has since gone lower. And why shouldn't it? Most of the "earnings" that had jacked up the stock were...
...unions are taking notice. At their national meeting in New Orleans this month, delegates for the 2.3 million members of the N.E.A. turned back a proposed merger with the A.F.T., which would have created the nation's largest union. But most observers think the threats to the unions' power make the drive to combine forces irreversible. And so while they concentrate for now on the tactical move of simply growing bigger, both organizations are also trying to project a new, more cooperative image. Moved in part by a Democratic President's enthusiasm for reforms like charter schools and tougher teacher...
RECREATION Hiking, fly-fishing, an annual raft trip, golf, tennis and hanging out are all popular, but the most pressing activity is dealmaking (and posing for the annual Annie Leibovitz photo). The Disney/ABC merger originated after Eisner and Buffett met on a Sun Valley golf course. Any new deals at this year's conference? Stay tuned for the next few months...
...Bells currently aren't competing against anyone, not even each other. Allowing AT&T/TCI to compete in the local phone game would encourage the Bells to enter the long-distance phone market -- and that means more competition all around. Nader or no Nader, says McCullagh, "it looks like the merger will go through. Both Democrats and Republicans have been saying the benefits far outweigh any drawbacks...