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...An extreme case was Harold Geneen at ITT, who converted what had once been a telecommunications company into a conglomerate; Geneen believed that his management skills could be applied to virtually any industry...
...But there is gloom in the country’s nascent mining industry....
...At least two publicly listed companies (ITT Technical Institute and Corinthian Colleges) declared bankruptcy. Now, you may think many for-profit colleges were simply frauds (I think this)....
...With the project dead, Mr Correa gave the oil industry the green light to expand its operations in the park....
...Concern over the ability of IFF to digest another mega-deal so soon after it acquired Israel’s Frutarom Industries for $7.1bn including debt, has also weighed on the stock price....
...By the end of the second world war, GE controlled 85 per cent of the lightbulb industry, prompting an antitrust probe. But the group began to diversify rapidly from its electrical roots....
...Fink is far from a lone voice in his industry....
...It was too reminiscent of the 1960s era of reckless diversification by sprawling companies such as ITT and Litton Industries, which ended in their disintegration....
...I do not have Rapunzel hair but rather a style that falls past my shoulders and over my face, resembling Cousin Itt from The Addams Family ....
...Mr Sternlicht took over Westin Resorts & Hotels Worldwide and ITT Corp, which owned the Sheraton chain and the St Regis hotel in New York....
...Starwood then bought ITT for $13.9bn....
...So, armed with a degree in mechanical engineering, he joined ITT Sheraton....
...The suspicion originates in the 1970s and 1980s, the era of companies such as ITT and RJR Nabisco....
...One was from Reckitt & Colman, maker of Dettol disinfectant and Cherry Blossom shoe polish, which later merged in 1999 with Benckiser of the Netherlands under Mr Becht....
...In 1970, the conglomerate craze (the flip side of today’s break-up fever) shows up briefly, in the form of ITT — telecom, hotel operator, bread baker and industrial manufacturer....
...The contract is one of the most highly-prized in the UK advertising industry, both for its large financial value and its high profile....
...People interviewed for this article likened WPP to ITT in the US, where Harold Geneen was CEO until 1977, or Hanson, the industrial group assembled by James Hanson and Gordon White in the 1970s and 1980s...
...In 1999 he was plucked from an obscure job running part of ITT Industries, the US industrial conglomerate, to take over at the helm of Schaeffler....
...When ITT sold Continental Baking (as Hostess was then called) to Ralston Purina, the dog food company, in 1984, it would not have been improper to speak of synergies....
...Relational manages about $6bn and has taken stakes and pushed for changes in companies such as Home Depot, Genzyme and ITT....
...Executives at Pepsi might note the changes at industrial products maker ITT and L-3 Communications, both of which announced spin-offs last year following prodding from the patient but insistent Mr Whitworth...
...Sara Lee, Fortunes Brands, ITT and a host of companies in the energy sector have opted to split up their businesses in the past year, as the market rewards pure-play businesses with a better valuation....
...Sara Lee, Fortune Brands and ITT have also announced separations in the past year....
...Diversification across industries should reduce the chance of bankruptcy, and thus the cost of debt financing. Greater size also brings more stock market liquidity – probably good for the share price....
...Marion Blakey, head of the Aerospace Industries Association, a lobby group, expects more job cuts....
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