Word: turnarounds
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...action is attracting a host of new players. Investment banks, which retrenched after the tech bust, are ratcheting back up, as are money managers like financial-services firm Amvescap, which last week acquired WL Ross & Co., a buyout firm run by turnaround specialist Wilbur Ross. Even hedge funds--whose trader mentality is antithetical to buying and holding--are taking pages out of the buyout playbook. Hedge-fund operator Eddie Lampert not only bought and merged Sears and Kmart but also installed himself as chairman...
...past Israeli checkpoints in the West Bank. Ghandour got his break when FedEx and later Airborne Express made Aramex their Middle East partner. The U.S. firms gave Aramex invaluable lessons in everything from quality control to technology. When DHL acquired Airborne and dropped Aramex, Ghandour learned another lesson: the turnaround. He got busy marshaling the regional players that Airborne had left in the cold into a new alliance. A leader in the Middle East and South Asia, Ghandour is looking for acquisitions in the U.S. and China. "Things are very hectic," says Ghandour, who shuttles between Amman, Dubai, Beijing, Dublin...
...public presence have recently begun to swell, Fiat chairman Luca di Montezemolo and CEO Sergio Marchionne are still largely in charge. The Fiat Group, which counts CNH tractors and Iveco trucks among its holdings, has been buoyed recently by strong numbers from its once suffering automobile division. Under the turnaround leadership of Marchionne, European sales of the auto group (which includes the Fiat, Lancia and Alfa Romeo brands) jumped 23.2% in the first five months of this year, representing nearly half of the overall company's revenues. With Fiat rolling toward recovery--and his increasingly central role in the holding...
...Obviously the two companies are very healthy, strong balance sheets, good experience with working together without overshadowing one or the other. We have internal benchmarks, internal best practices. We have products in all the segments of the market, good knowledge globally, we had all the experiences of turnaround. We have been, from both sides, in tough positions and we know how to handle it. We have talents all over the globe. I think the most important thing is sit down together with GM and with our own experts trying to see what's at stake, how much...
...Engine? An ailing carmaker seeks change Auto-biz turnaround whiz Carlos Ghosn, CEO of Renault and Nissan, visits Detroit this week to discuss an alliance with struggling General Motors, whose shareholders are agitating for reform--and a higher stock price...