Word: piedmonte
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...player in the early convolutions of the drama was Jim Bakker, the religious entrepreneur who reigned over the domain called Heritage USA. Nestled in the pine-carpeted piedmont just south of the border between North and South Carolina, Heritage is the third most popular theme park in the country (after the two Disney operations). It drew more than 6 million people last year to its 500-room hotel, 2,500-seat church, five-acre water park, and mock gable-fronted "Main Street USA," an enclosed mall with 25 stores and a 650-seat cafeteria...
...rapid consolidation within the airline business may soon test the limits of the Administration's willingness to go along with the megamergers. Last week Piedmont Airlines announced that it had accepted a $1.6 billion bid from USAir, which already has a deal in the works to buy Pacific Southwest Airlines for $400 million. The combination of the three carriers would create the seventh largest U.S. airline, controlling about 7% of domestic traffic. But USAir is itself the target of a $1.6 billion bid by TWA. Carl Icahn, the corporate raider who became TWA chairman last year, may envision...
Description: Five illustrated charts, actual or proposed mergers involving Dart Group, Supermarkets General, USAir, Piedmont, Harcourt, Harper & Row, Reebok, Avia, Donald Trump, Resorts International...
While corporations have forged all sorts of improbable unions, none in recent years have tried to merge a railroad with an airline. Norfolk Southern, an East Coast railroad-holding company, may venture such a match. The company disclosed that it is considering acquiring Piedmont, the profitable North Carolina-based airline. Since 1981 Norfolk has owned more than 19% of Piedmont stock. It agreed five years ago not to buy more than 20.5% of the airline's shares, but that pact expired last week...
Industry observers were hard pressed to see the merit of such a merger. But in announcing its interest in Piedmont, the railroad may attract other bidders for the airline. Norfolk might then walk away with a handsome profit on its investment without ever having flown into the turbulent airline business...