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Listings in Conglomerates
3M
The 3M Company, formerly known as the Minnesota Mining and Manufacturing Company is an American multinational conglomerate corporation operating in the fields of industry, worker safety, health care, and consumer goods.[3] The company produces adhesives, abrasives, laminates, passive fire protection, personal protective equipment, window films, paint protection films, dental and orthodontic products, electrical & electronic connecting and insulating materials, medical products, car-care products,[4] electronic circuits, healthcare software and optical films.[5] It is based in Maplewood, Minnesota, a suburb of St. Paul.[6] 3M made $32.8 billion in total sales in 2018 and ranks number 95 in the Fortune 500 list of the largest United States corporations by total revenue.[7] As of 2018, the company has approximately 93,500 employees, and has operations in more than 70 countries.
Alleghany
Alleghany Corporation is an investment holding company originally created by the railroad entrepreneurs Oris and Mantis Van Sweringen as a holding company for their railroad interests. It was incorporated in 1929[3] and reincorporated in Delaware in 1984.[4] After the company’s bankruptcy in the Great Depression, control of the company fell into the hands of Robert Ralph Young and Allan Price Kirby. Young used the company as a vehicle for his vendetta against the J.P. Morgan banking interests, who had financed the Van Sweringens and managed to defeat them and the Vanderbilt interests in a 1954 proxy fight for the New York Central Railroad. The failing New York Central was in worse shape than Young had bargained for and he committed suicide shortly after being forced to suspend the dividend in January 1958. After Young’s death, his role in NYC management was assumed by his protégé Alfred E. Perlman. Although much had been accomplished to streamline NYC operations, in those tough economic times, mergers with other railroads were seen as the only possible road to financial stability. The most likely suitor became the NYC’s former arch-rival Pennsylvania Railroad. During the early 1960s, New York Central negotiated a merger with the Pennsylvania Railroad (PRR), which was led by Stuart T. Saunders after 1963. Saunders had most recently led the Norfolk and Western Railway through a successful expansion through acquisition and mergers including the Virginian Railway, Nickel Plate Road and Wabash Railway. There was great hope that success would result from the NYC-PRR combination. Penn Central Transportation Company was formed by the merger on February 1, 1968. However, the underlying financial weakness of both former railroads, combined with the fact that the ICC forced the chronically weak New Haven Railroad into the system, doomed the Penn Central and bankruptcy was declared a little over 2 years later, on June 21, 1970. Many of the Penn Central railroad assets ended up in Conrail, formed in 1976. The bankruptcy of the Penn Central railroad mostly ended Alleghany’s involvement in the railroad business. The company’s residual railroad investments led to president and CEO John J. Burns serving on the board of Burlington Northern Santa Fe Corporation from 1995 to 2004. Now Alleghany Corporation focuses on the insurance business (property, casualty, surety and fidelity insurance). Until his death in February 2011, Allan Kirby’s son, Fred M. Kirby 2nd, was the chairman of the board and a sometime member of the Forbes 400 list of richest Americans.
Alphabet
Alphabet Inc. is an American multinational conglomerate headquartered in Mountain View, California. It was created through a corporate restructuring of Google on October 2, 2015,[2] and became the parent company of Google and several former Google subsidiaries.[3][4][5] The two founders of Google assumed executive roles in the new company, with Larry Page serving as CEO and Sergey Brin as president.[6] Alphabet is the world’s fifth-largest technology company by revenue and one of the world’s most valuable companies.[7][8] The establishment of Alphabet was prompted by a desire to make the core Google internet services business “cleaner and more accountable” while allowing greater autonomy to group companies that operate in businesses other than Internet services.
Berkshire Hathaway
Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. The company wholly owns GEICO, Duracell, Dairy Queen, BNSF, Lubrizol, Fruit of the Loom, Helzberg Diamonds, Long & Foster, FlightSafety International, Pampered Chef, and NetJets, and also owns 38.6% of Pilot Flying J;[3] 26.7% of the Kraft Heinz Company, and significant minority holdings in American Express (17.6%), Wells Fargo (9.9%), The Coca-Cola Company (9.4%), Bank of America (6.8%), and Apple (5.22%).[4] Since 2016, the company has acquired large holdings in the major US airline carriers, and is currently the largest shareholder in United Airlines and Delta Air Lines, and a top three shareholder in Southwest Airlines and American Airlines.[5] Berkshire Hathaway has averaged an annual growth in book value of 19.0% to its shareholders since 1965 (compared to 9.7% from the S&P 500 with dividends included for the same period), while employing large amounts of capital, and minimal debt.[6] The company is known for its control and leadership by Warren Buffett, who serves as chairman and chief executive, and Charlie Munger, the company’s vice-chairman. In the early part of his career at Berkshire, Buffett focused on long-term investments in publicly traded companies, but more recently he has more frequently bought whole companies. Berkshire now owns a diverse range of businesses including confectionery, retail, railroads, home furnishings, encyclopedias, manufacturers of vacuum cleaners, jewelry sales, newspaper publishing, manufacture and distribution of uniforms, and several regional electric and gas utilities. According to the Forbes Global 2000 list and formula, Berkshire Hathaway is the third largest public company in the world, the tenth largest conglomerate by revenue and the largest financial services company by revenue in the world.[7][8][9] As of February 2019, Berkshire is the fifth-largest company in the S&P 500 Index by market capitalization and is famous for having the most expensive share price in history with Class A shares costing around $300,000 each. This is because there has never been a stock split in its Class A shares[10] and Buffett stated in a 1984 letter to shareholders that he does not intend to split the stock.
Comcast
Comcast Corporation (formerly registered as Comcast Holdings)[note 1] is an American telecommunications conglomerate headquartered in Philadelphia, Pennsylvania.[9] It is the second-largest broadcasting and cable television company in the world by revenue and the largest pay-TV company, the largest cable TV company and largest home Internet service provider in the United States, and the nation’s third-largest home telephone service provider. Comcast services U.S. residential and commercial customers in 40 states and in the District of Columbia.[10] As the owner of the international media company NBCUniversal since 2011,[11][12][13][14] Comcast is a producer of feature films and television programs intended for theatrical exhibition and over-the-air and cable television broadcast, respectively. Comcast owns and operates the Xfinity residential cable communications subsidiary, Comcast Business, a commercial services provider, Xfinity Mobile, an MVNO of Verizon, over-the-air national broadcast network channels (NBC, Telemundo, TeleXitos and Cozi TV), multiple cable-only channels (including MSNBC, CNBC, USA Network, Syfy, NBCSN, and E!, among others), the film studio Universal Pictures, and Universal Parks & Resorts. It also has significant holdings in digital distribution, such as thePlatform, which it acquired in 2006. In February 2014, the company agreed to merge with Time Warner Cable in an equity swap deal worth $45.2 billion. Under the terms of the agreement, Comcast was to acquire 100% of Time Warner Cable.[15] However, on April 24, 2015, Comcast terminated the agreement.[16][17] Comcast and Charter Communications entered into an agreement to conduct exclusive discussions with Sprint Corporation in late June 2017.[18] Since October 2018, it is also the parent company of mass media pan-European company Sky, making it the biggest and leading media company with more than 53 million subscribers over five countries across Europe. [19] Comcast has been criticized for multiple reasons; its customer satisfaction often ranks among the lowest in the cable industry.[20][21] In addition, Comcast has violated net neutrality practices in the past, and, despite Comcast’s commitment to a narrow definition of net neutrality,[22] critics advocate a definition which precludes any distinction between Comcast’s private network services and the rest of the Internet.[23] Critics also point out a lack of competition in the vast majority of Comcast’s service area; there is limited competition among cable providers.[24] Furthermore, given Comcast’s negotiating power as a large ISP, some suspect that Comcast could leverage paid peering agreements to unfairly influence end-user connection speeds. Its ownership of both content production (in NBCUniversal) and content distribution (as an ISP) has raised antitrust concerns. These issues, in addition to others, led to Comcast being dubbed “The Worst Company in America” by The Consumerist in 2010 and 2014.
Danaher Corporation
Danaher Corporation is a globally diversified conglomerate with its headquarters in Washington, D.C., United States. Danaher is ranked 162nd on the 2018 Fortune 500 list.[2] It operates in four segments: environmental & applied solutions[buzzword], life sciences, diagnostics, and dental.[3] Danaher is currently ranked by Forbes as one of the best employers for diversity.[
Delek US Holdings
Delek Group is an Israeli conglomerate and one of Israel’s largest companies, majority owned by Yitzhak Tshuva, a self-made multi-billionaire. Delek Group is involved in the energy and infrastructure, with investments in upstream and downstream energy, water desalination and power plants. Delek Group’ subsidiaries are also involved in insurance and financial services. Delek Group is listed on the Tel Aviv stock exchange under the ticker symbol, DLEKG, and is a member of the TA-35 Index of leading Israeli companies. Also, two of the group’s subsidiaries are also listed on the TA-35 Index: Avner Oil Exploration LP and Delek Drilling LP. The group’s USA operations, Delek US Holdings, Inc., are listed on the New York Stock Exchange (NYSE: DK). On June 22, 2015, The Delek Group agreed to sell a 52% controlling stake of Phoenix Holding company (insurance and financial undertaking) to the Chinese civilian-run conglomerate Fosun International.
Dover Corporation
Dover Corporation is an American conglomerate manufacturer of industrial products. Founded in 1955 in New York City, Dover is now based in Downers Grove, Illinois, and employs more than 26,000 people worldwide.
General Electric
General Electric Company (GE) is an American multinational conglomerate incorporated in New York City and headquartered in Boston. As of 2018, the company operates through the following segments: aviation, healthcare, power, renewable energy, digital industry, additive manufacturing, venture capital and finance, lighting, and oil and gas.[2][3] GE has a subsidiary in Bermuda. [4] In 2018, GE ranked among the Fortune 500 as the 18th-largest firm in the U.S. by gross revenue.[5] In 2011, GE ranked among the Fortune 20 as the 14th-most profitable company but has since very severely underperformed the market (by about 75%) as its profitability collapsed.[6][7][8] Two employees of GEIrving Langmuir (1932) and Ivar Giaever (1973)have been awarded the Nobel Prize.
Honeywell International
Honeywell International Inc. is an American multinational conglomerate company that produces commercial and consumer products, engineering services and aerospace systems. The company operates four business units, known as Strategic Business Units Honeywell Aerospace, Home and Building Technologies (HBT), Safety and Productivity Solutions (SPS), and Honeywell Performance Materials and Technologies.[2][3][4] Honeywell is a Fortune 100 company. In 2018, Honeywell ranked 77th in the Fortune 500.[5] Honeywell has a global workforce of approximately 130,000, of whom approximately 58,000 are employed in the United States.[6] The company is headquartered in Charlotte, North Carolina. Its current chief executive officer is Darius Adamczyk.[7][8] The company and its corporate predecessors were part of the Dow Jones Industrial Average Index from December 7, 1925, until February 9, 2008. The company’s current name, Honeywell International Inc., is the product of a merger in which Honeywell Inc. was acquired by the much larger AlliedSignal in 1999. The company headquarters were consolidated with AlliedSignal’s headquarters in Morristown, New Jersey; however the combined company chose the name “Honeywell” because of its superior brand recognition. In 2015, the headquarters were moved to Morris Plains.[9] On November 30, 2018, Honeywell announced that its corporate headquarters would be moved to Charlotte, North Carolina.[10] On July 1, 2019, Honeywell moved employees into a temporary headquarters building in Charlotte before their new building was complete.[11] Honeywell has many brands that commercial and retail consumers may recognize, including its line of home thermostats (particularly the iconic round type) and Garrett turbochargers. In addition to consumer home products, Honeywell produces thermostats, sensors, security alarm systems, and air cleaners and dehumidifiers. The company also licenses its brand name for use in various retail products made by other manufacturers, including air conditioners, heaters, fans, security safes, home generators, and paper shredders.
Icahn Enterprises
Icahn Enterprises L.P. is an American conglomerate headquartered at the General Motors Building in New York City. The company has investments in various industries including auto parts, energy, metals, rail cars, casinos, food packaging, real estate, and home fashion.[1] The company is controlled by Carl Icahn, who owns 95% of it.
Jefferies Financial Group
Jefferies Financial Group Inc. is an American financial services company based in New York City and listed on the Fortune 500.
Masco
Masco Corporation is a manufacturer of products for the home improvement and new home construction markets. Comprising more than 20 companies, the Masco conglomerate operates nearly 60 manufacturing facilities in the United States and over 20 in other parts of the world. Since 1969 it trades on the NYSE. Under the leadership of Richard Manoogian, the company grew exponentially and subsequently joined the Fortune 500 list of largest U.S. corporations. As of 2007, Masco employed approximately 32,500 employees and has approximately 6,000 shareholders. The company is currently ranked at 373 on the Fortune 500. As of December 31, 2007, Masco had a little over ten billion dollars in assets, and the companys total revenue was $11.77 billion. Total sales for the company in 2009 were 7.8 billion. In 2010, the company had worldwide sales of $7.6 billion and approximately 90 manufacturing facilities. The current CEO is Keith J. Allman.
Mohawk Industries
Mohawk Industries is an American flooring manufacturer based in Calhoun, Georgia, United States. Mohawk produces floor covering products for residential and commercial applications in North America and residential applications in Europe. The company manufacturing portfolio consists of soft flooring products (carpet and rugs), hard flooring products (ceramic tile, natural stone and hardwood flooring), laminate flooring, sheet vinyl and luxury vinyl tile. The company employs 37,800 in operations in Australia, Brazil, Canada, Europe, India, Malaysia, Mexico, New Zealand, Russia and the United States. In 2015, Mohawk was recognized as the most used, top-brand familiarity, and top-quality rating carpet product by the Builder magazine.
Qurate Retail
Qurate Retail Group, formerly known as Liberty Interactive Corporation, is an American media conglomerate controlled by company Chairman John C. Malone, who owns a majority of the voting shares. Liberty Interactive was originally a division of Liberty Media; on September 28, 1998, Liberty Media announced the formation of Liberty Interactive, a division which would take advantage of new technologies such as set-top boxes to develop interactive programming. The company owned eighty-six percent of TCI Music Inc. (NASDAQ symbol: TUNE/TUNEP). As of January 1, 1999, E! Entertainment President and Chief Executive Officer Lee Masters would become the new company’s CEO, and Bruce Ravenel would be Chief Technology Officer. On September 10, 1999, Liberty Media Group renamed TCI Music to Liberty Digital Inc. (NASDAQ symbol: LDIG), with the new company trading on NASDAQ’s National Market tier, after Liberty Media traded most of its Internet content, interactive television assets, and rights to provide AT&T’s cable systems with interactive services, plus cash and notes valued at $150 million, for TCI Music stock. Masters, who became Liberty Digital’s CEO, told The Wall Street Journal that the new company had a value of $1 billion, $650 million of that from the interactive unit of Liberty Media, which had also used the name Liberty Digital. Liberty Digital lost $244 million with revenue of $66 million in 1999, thanks to investments in struggling Internet businesses HomeGrocer, drugstore.com, TiVo Corporation and iVillage. The company bought half of the Game Show Network because of its interactive features.
United Technologies
United Technologies Corporation (UTC) is an American multinational conglomerate headquartered in Farmington, Connecticut.[1] It researches, develops, and manufactures products in numerous areas, including aircraft engines, aerospace systems, HVAC, elevators and escalators, fire and security, building systems, and industrial products, among others. UTC is also a large military contractor, getting about 10% of its revenue from the U.S. government.[4][5] Gregory J. Hayes is the CEO and chairman.[6] On June 9, 2019, UTC announced the intent to merge its aerospace business with Raytheon.[7] UTC is incorporated in Connecticut.
Viacom
The second and current incarnation of Viacom Inc. (/?va??k?m/ VY-?-kom or /?vi??k?m/ VEE-?-kom), is an American multinational mass media conglomerate with interests primarily in film and television, which was formed as a spin-off of the original Viacom on December 31, 2005. It is one of two companies which succeeded the original Viacom, alongside CBS Corporation; both are owned by National Amusements, a theater company controlled by businessman Sumner Redstone. The spin-off was structured so that CBS Corporation would be the legal successor to the old Viacom, with the new Viacom being an entirely new company.[3][4][5][6][7] The new Viacom comprises Viacom Media Networks and Paramount Pictures, through which it operates approximately 170 networks and reaches approximately 700 million subscribers in approximately 160 countries.[8] CBS Corporation retains the over-the-air broadcasting, television production, pay-TV subscription service, and publishing assets, which were previously owned by the old Viacom. The new Viacom is currently the world’s ninth-largest media company in terms of revenue, and is headquartered at One Astor Plaza in Midtown Manhattan, New York City. The second merger between Viacom and CBS Corporation, creating the combined company ViacomCBS, was announced on August 13, 2019; the merger is expected to be completed by late 2019.