June 23, 1988 |
The Swedish auto maker Volvo said Wednesday that it acquired a 20% interest in Hertz Corp., the world's largest car rental company, in hopes of increasing the exposure of Volvo cars worldwide. Volvo's North American unit said it paid $100 million in cash for the one-fifth share of Hertz, which it purchased from Park Ridge Corp., a subsidiary of Ford Motor Co. A Volvo spokesman said the move would raise worldwide exposure for its autos by increasing the number rented through Hertz outlets.
December 16, 1989
I'd like to thank Coach Robinson for telling Ram fans what I had been trying to tell them for 10 years--that they are fools. SAM RIZZARDO, Long Beach
October 5, 1988 |
Scandinavian Airlines System and Texas Air, the largest airline company in the United States, signed a major agreement Tuesday to coordinate their advertising, scheduling and reservations and giving SAS the right to buy up to 10% of Texas Air's stock. SAS' investment in Texas Air, which owns Eastern Airlines and Continental Airlines, will represent the first stake in a major U.S. carrier by any foreign airline. The value of 10% of Texas Air's stock at current prices would be about $58 million.
CALIFORNIA | LOCAL
July 25, 1998 |
Leaders of the Simon Wiesenthal Center and two state legislators called Friday for an escalated effort to pressure Swiss banks into settling claims with Holocaust survivors. Sens. Tom Hayden (D-Los Angeles) and Quentin Kopp (I-San Francisco) announced legislation they are proposing to place a one-year moratorium on future investments of state pension funds or other assets in three Swiss banks.
October 4, 1988 |
Scandinavian Airlines System is negotiating to buy a stake in Texas Air Corp.--a deal that would make SAS the first foreign carrier to own an interest in a major U.S. airline. If the deal is consummated, it not only would provide a much needed boost for beleaguered Texas Air, but would also mark a new, international phase in the mergers and consolidation that followed U.S. airline deregulation.
November 14, 1989 |
Combustion Engineering Inc., a diversified international manufacturing and service concern, said Monday that it agreed to be bought by a European industrial conglomerate for $1.6 billion. ABB Asea Brown Boveri Ltd., a Swiss-Swedish supplier of technical equipment and services, will pay $40 each for all of Combustion Engineering's outstanding shares in a tender offer to start later this week. Combustion Engineering stock surged $13.