Word: goodyear
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Dates: during 1980-1989
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...turned in the most impressive performance. With 14 camera crews, the Goodyear blimp, and savvy sports commentator Al Michaels on hand at Candlestick Park to cover the World Series, its sports division alone could probably have beaten the other networks' news divisions, as it did after the massacre at the 1972 Munich Olympics. Anchoring from Washington, Ted Koppel again proved that he is unsurpassed in the art of extracting facts from chaos. While CBS's Dan Rather was still stressing the "unconfirmed" nature of reports about the collapse of the Bay Bridge, ABC (along with the ever enterprising...
...many of them. In the past two years, such brands as Firestone and General Tire have been taken over by foreign manufacturers. Last week the U.S. ranks were further deflated when France's Michelin Group reached an agreement to take over Uniroyal Goodrich for $1.5 billion. The deal leaves Goodyear the last major U.S. contender...
...deal as vital to its long-term survival. In a business in which size has become synonymous with strength, Uniroyal Goodrich is looking to Michelin for financial might and technical know-how. If the merger is completed, the new company (combined 1988 sales: $10.9 billion) may well surpass Goodyear ($10.8 billion) as the world's largest tiremaker...
...Lynch does not waste much time agonizing about what could happen next week. He has been too busy snapping up stocks that he considered well worth buying at their depressed postcrash prices: Goodyear, Chrysler, Intel, Texas Instruments, Carnival Cruise Lines and Toys "R" Us, along with companies that most people have not yet heard of, such as Metro Mobile CTS, a cellular phone system, and Comcast, a cable-TV operator...
...invariably old companies that had strayed from their original purpose through diversification, acquired too many senior managers, and were selling at a good deal below their breakup value. He would break them up, sell off the odds and ends, streamline the core and move on to the next project. Goodyear, which Goldsmith tried to acquire last year, provides a good example. The company's original purpose, he told a congressional committee, "was to build better tires, cheaper, and sell them harder," but it diversified into oil and gas, started building an expensive pipeline, dropped $214 million and was losing tire...