Word: rca
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...near legendary windfall was made in a public offering by William Simon, Treasury Secretary in the Nixon and Ford Administrations. In 1982 a Simon-led group of investors put up $1 million of their own money and borrowed $79 million to buy the Gibson greeting-card company from RCA. They turned Gibson into a private firm and reorganized its operations. Then, just 18 months later, they sold $290 million worth of the company's stock to the public. Simon alone earned more than $15 million and wound up holding shares in Gibson worth about $50 million...
...when they plugged in last Thursday after midnight at TT the Bear’s Place, Longwave enthusiastically banished the specter of those prep-school Television-heads in seconds. Combining previews of their upcoming LP There’s a Fire, awaiting a May release on RCA, with a few songs from their first two albums thrown into the mix, the band showed they know how to set a room certifiably ablaze...
...Parker is smiling. The carnival huckster who managed Elvis Presley throughout the rock 'n' roller's career would love it that the King just topped the British singles chart for the 19th time - with a rerelease of Jailhouse Rock, timed to what would have been his 70th birthday. (RCA is rereleasing all of Elvis' U.K. No. 1 hits.) The celebration is also taking place in Germany, where Bonn's Haus der Geschichte has mounted a show about Elvis' 1958-60 tour of duty as a U.S. soldier in the Hessen town of Friedberg . Some 300 items will be on display...
Lenovo is one of a small but growing number of Chinese firms that are trying to ease profit pressure at home through global acquisitions. Guangdong-based TCL last year bought the television arm (including the RCA brand) of French electronics giant Thomson. Shanghai Automotive Industry Corp. is in talks to acquire the very English MG Rover and has already bought Korean SUV maker Ssangyong. A consortium of Chinese companies bid on the Canadian mining firm Noranda. Says Arthur Kroeber, managing editor of the China Economic Quarterly, of the dealmaking: "It's not a silly gamble, but it is high risk...
...second biggest producer of mobile phones, and Li wants to become No. 1 in air conditioners. But competition remains fierce among Chinese electronics firms. To stay ahead, Li last year paid $560 million for control of the TV arm of the French consumer-products giant Thomson, which owned the RCA brand. The next step won't be easy. Thomson's TV operations lost $130 million last year, and Li acknowledges that RCA is known as "the TV that old people watch." In the third quarter of this year, TCL's profits dipped 69%. Li hopes he can inject some Chinese...