Word: ceos
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Stephen Bollenbach, the high-flying CEO of Hilton Hotels Corp., is strictly a bird of his word. Bollenbach told TIME last summer that he was looking to make significant additions to Hilton's hotel holdings. Last week he found what he was looking for--more than 130,000 rooms. Those lodgings happen to do business under the banner of Sheraton, which happens to be owned by ITT Corp. and run by Rand Araskog, a man not keen on having his corporate masterwork painted over. That's why Hilton's $55-a-share, $6.5 billion offer for ITT, whose holdings also...
...four-day conference included panel discussions and keynote speeches by Robert Holland, former CEO of Ben and Jerry's Homemade Inc.; Loida N. Lewis, chair and CEO of Beatrice International Holdings, Inc.; and Earl G. Graves, president and CEO of Earl G. Graves...
...sell 51% of Trump's Castle to the Los Angeles real estate firm Colony Capital for $125 million in cash. The deal values the property--to be rechristened Trump Marina--at $563 million and wipes $314 million in debt off its balance sheet. Says Nicholas Ribis, president and CEO of Trump Hotels: "[Donald] is vindicated, sure...It's a smart financial deal for Trump and financially for the company...
...food restaurant group, which includes about 29,000 Pizza Hut, Taco Bell and KFC outlets, with sales of more than $20 billion. The restaurant group was eating capital the way a teenager can go through an extra-large taco, capital that could have been fueling growth at Pepsi. Says CEO Roger A. Enrico: "Our goal in taking these steps is to dramatically sharpen PepsiCo's focus." He needs to, given Pepsi's loss of global share. Pepsi will keep Frito-Lay, the undisputed king of snacks. This leaves Enrico free to return to the cola wars. Things are about...
...heart, the region expects to add more than 232,000 jobs (an increase of 28%) in fields as diverse as software, optics and leisure by 2005. Even with 500 newcomers arriving each day, "there is a job here for everyone who wants one," says Dan Lynch, president and ceo of the Economic Development Commission of Mid-Florida. Even the marquee of Dr. Phillips High School in Orlando sports a help-wanted sign--for a hall monitor...