Word: spin-off
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...average of only 43%, over three years. Why? Often spin-off companies become more focused, and because they are smaller they tend to have greater ability to grow rapidly. Meanwhile, there is little evidence that giant mergers create great wealth for shareholders. Just ask AT&T. It paid $7.4 billion for NCR Computer in 1991 and soon gave up on the acquisition, spinning it off to shareholders as part of another split, this one three ways, last year. So now somebody wants to put Ma Bell back together, replacing fruitful spin-offs with questionable mergers. That is what this deal...
...masterminded a CD-ROM (Steven Spielberg's Directors Chair) and oversaw the giddy, multithrill Jurassic Park ride at Universal Studios, Hollywood. Oh, yes, he also started, with Jeffrey Katzenberg and David Geffen, a little outfit called DreamWorks SKG; Spielberg oversees the live-action film unit. And in the noblest spin-off generated by a hit movie, the director of Schindler's List established the Survivors of the Shoah Visual History Foundation, which records the testimony of Holocaust survivors. In April its first film won a Peabody Award...
...split the company into two pieces, the Nabisco Brands food group and the R.J. Reynolds tobacco firm--was ultimately rejected by skeptical stockholders. "I think it was...an issue of character," said tobacco-industry analyst Ellen Baras at the time. "I think there are people who would support a spin-off of Nabisco, but not by LeBow." One of the prime factors was LeBow's dubious reputation as a manager. In 1994 his own shareholders had sued him, claiming he had taken millions of dollars in improper loans; LeBow settled out of court...
...success of Riverdance and its spin-off has been remarkable. Lord of the Dance began its U.S. tour this month with 13 sold-out performances at Manhattan's 5,854-seat Radio City Music Hall. Having made its debut in Dublin last June, it reached New York City via London, New Zealand and Australia. Riverdance now maintains two touring companies, and producers are putting together a third. The show will return to the U.S. in September after a string of sold-out performances last year. Riverdance the CD won a Grammy last month and remains the top-selling album...
...exhibit is rounded off by a small collection of posters from the International Festival of Angouleme, France's annual comic-strip exposition--usually attended by over a hundred thousand people in the course of its four-day run--and a much larger collection of comic albums and spin-off products from France and its cultural neighbors. The commercial products range from the predictable (watches, keychains, slippers) to the completely startling (massive commemorative etched-glass slabs, bottles of wine). Amusing as these are, the overall effect of the exhibit is somewhat disappointing, partly due to an evident lack of support...