Word: plc
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...just cured cancer, in truth they may have done the next best thing. They forced the tobacco industry to concede, in so many grudging words and so many, many more dollars, that cigarettes are a deadly regimen. The companies--Philip Morris Companies, RJR Nabisco Holdings Corp., B.A.T. Industries PLC's Brown & Williamson and Loews Corp.'s Lorillard--reached a resolution with the attorneys general of nearly 40 states in which the industry will pay out $368.5 billion over the next quarter-century in compensation, drastically alter their marketing programs and submit to the regulatory heel...
...quite a different problem: saving Marriott Corp. from collapsing in debt by splitting it into two companies. In 1989, as CFO of Holiday Corp., he helped launch a subsidiary that is now the Promus Hotel Corp. (Hampton Inn, Embassy Suites), in the process selling off Holiday Inns to Bass PLC for an outrageous amount of money. He also rescued casino-hotel mogul Donald Trump from ruin. Trump was personally on the hook for $650 million before Bollenbach sprang him, an act that some of the Donald's rivals found unforgivable...
WHAT A STRANGE COINCIDENCE THAT Cunard's flagship, Queen Elizabeth 2, was launched by the monarch herself in 1967. Both the House of Windsor and the money-losing cruise-ship company, a division of Britain's Trafalgar House PLC, have endured a series of public calamities--although at least the toilets haven't been exploding in Buckingham Palace, as they were aboard the QE2 during its infamous Cruise to Hell in late...
...Queen's banks (she could lose as much as $1 million), and the founding family currently boasts five different hereditary peerages, more than any other English clan since the Middle Ages. The Princess of Wales is a great granddaughter of a Baring. But last week control of Barings plc appeared to be going to the Dutch firm ING-for the decidedly nominal amount...
...extended bidding war among giant international media companies. Last week a winner emerged: Australian media baron Rupert Murdoch's News Corp., which acquired nearly two-thirds of the fast-growing, money-losing satellite television service for $525 million. In making the buy, Murdoch beat out Britain's Pearson PLC as well as Americans Time Warner and Turner Broadcasting, which were also rumored to be interested in STAR...