Word: ponts
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Dates: during 1960-1969
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...tying his suppliers together as United Motors Corp., bought Hyatt for $13.5 million as part of United. Durant had taken such a fancy to Sloan that he hired him to become United's president. United was eventually merged into General Motors and Durant was ousted by the Du Pont family, already large G.M. stockholders. New President Pierre S. Du Pont asked Sloan to stay as operations vice president; he had undoubtedly been influenced by Du Pont Director John J. Raskob. "There," said Raskob about Sloan, "is a man who should be President of the United States. He never will...
When Pierre Du Pont retired from G.M.'s presidency, Sloan was his natural successor. He took over a sprawling infant that made five nonintegrated car lines, ran such supply companies as Fisher Body and United Motors with little thought of inventory control, cached its cash wherever division man agers wanted to keep it. Sloan set up a seemingly contradictory system: a committee management in which operations were decentralized, finances and policy centralized. Above it all was "Mr. Sloan," as he was always called...
...FRANCE, Thomson-Houston took over Hotchkiss-Brandt to form the country's largest appliance producer, and the steelmaking Pont-à-Mousson merged with the Compagnie Financière de Suez (TIME, Jan. 28). Image et Son, a French radio-TV firm owning peripheral stations that broadcast into France, announced it was buying 30% of the Compagnie Française de Télevision, a research organization...
Last week two big French organizations took just the sort of merger step that De Gaulle has been advocating. Pont-à-Mousson, France's second biggest private industrial company, with estimated 1965 sales of $1 billion, and the Compagnie Financière de Suez, one of the Continent's fastest growing investment trusts, with assets of some $200 million, decided to get together. Under a provisional agreement, Suez will assume a 20% stake in Pont-à-Mousson; in exchange, Pont-à-Mousson will get between 10% and 15% of Suez, the exact share yet to be negotiated...
Steelmaking Pont-à-Mousson has 75 factories and mines in France and 13 other countries, stands to benefit from the financial savvy and worldwide banking contacts of its new corporate relative. Suez, which operated the canal until Nasser seized it in 1956, has since become a broadly diversified investment company. Its widely invested capital (banks, insurance, industry) include the more than $80 million in indemnities paid by the Egyptians for the canal. Recently, Suez has gone in for more direct participation in manufacturing, and the tie-up with Pont-à-Mousson is the latest result. Should the two companies...