Word: mergers
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Dates: during 2000-2009
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...Parsons joined Time Warner as president in 1995, becoming CEO in 2002 - a position he held until 2007. As a member of the company's board since 1991, he was named chairman in 2003 and remained until 2008. Parsons was instrumental in the now defunct AOL-Time Warner merger...
...more in federal assistance. Meanwhile, Citigroup is trying to stay one step ahead of the sharks, er, shorts, who have taken the stock down more than 20% in the past two days. Though Citi is moving aggressively to hive off assets and divisions - earlier this week it announced the merger of its Smith Barney brokerage unit with Morgan Stanley's Global Wealth Management division, a deal that will bring Citi more than $2 billion - investors are worried about worsening loan losses across the banking sector and also about Citi's ability to get decent prices on any other asset sales...
...April 7, 1998, Citi was created from the merger of banking operation Citicorp and insurance operator Travelers. Citi has laid off tens of thousands of people over the past year, but it is still tremendously large, the way its founder hoped it would be, with more than 300,000 employees. (See pictures of the global financial crisis...
...international airline consultant with inside knowledge of Alitalia said the deal was inevitable despite years of waste and posturing. The companies are already linked through the SkyTeam alliance (along with Delta, Korean Air and others), and Air France and KLM have their own recent merger experience to work from as take in Alitalia. "This is the first real substantive positive step toward a viable long-term solution," said the consultant, who requested anonymity because of his company's work with the parties involved. "Everything before has been just kicking the can down the road, and political folly...
...real concern is not so much this straw company merger as [Harvard’s] warehousing of all this property,” Mattison said. “A lot of it just sits empty and vacant in the middle of a neighborhood...