He Walked by Night
He Walked by Night is a 1948 American police procedural film noir directed by Alfred L. Werker and an uncredited Anthony Mann; the film, shot in semidocumentary tone, was loosely based on newspaper accounts of the real-life actions of Erwin "Machine-Gun" Walker, a former Glendale, police department employee and World War II veteran who unleashed a crime spree of burglaries and shootouts in the Los Angeles area during 1945 and 1946. During production, one of the actors, Jack Webb, struck up a friendship with the police technical advisor, Detective Sergeant Marty Wynn, was inspired by a conversation with Wynn to create the radio and television program Dragnet, he Walked by Night was released by Eagle-Lion Films and is notable for the camera work by renowned noir cinematographer John Alton. Today the film is in the public domain. On a Los Angeles street, Officer Rawlins, a patrolman on his way home from work, stops a man he suspects of being a burglar and is shot and mortally wounded; the minor clues lead nowhere.
Two police detectives, Sergeants Marty Brennan and Chuck Jones, are assigned to catch the killer, Roy Morgan, a brilliant mystery man with no known criminal past, hiding in a Hollywood bungalow and listening to police calls on his custom radio in an attempt to avoid capture. His only relationship is with his little dog. Roy consigns burgled electronic equipment to Paul Reeves, on his fifth sale is nearly caught when he shows up to collect on his property. Reeves tells police; the case crosses the paths of Brennan and Jones, who stake out Reeves' office to arrest and question Roy. He suspects a trap, in a brief shootout shoots and paralyzes Jones. Jones wounds Roy, who performs surgery on himself to remove the bullet and avoid going to a hospital, where his gunshot wound would be reported to the police. With his knowledge of police procedures, Roy becomes an armed robber. During one robbery he fires his semi-automatic pistol, the police recover the ejected casing. Lee, a forensics specialist, matches the ejector marks on the casing to those recovered in the killing of Officer Rawlins and the wounding of Sgt.
Jones, connecting all three shootings to one suspect. Captain Breen uses this break to gather all of the witnesses to the robberies, they assist Lee in building a composite photo of the killer. Reeves identifies Roy from the composite. However, Roy hides in Reeves' car and attempts to intimidate him into revealing details of the police investigation, he eludes a stakeout of Reeves' house. Because the police do not realize that Roy has inside knowledge of their work, the case goes nowhere. Breen takes Brennan off the case in an attempt to shake him up. Jones convinces his partner to stop viewing the case and to use his head. Plodding, methodical follow-up by Brennan, using the composite photograph, results in information that Roy, whose actual name is Roy Morgan, worked for a local police department as a civilian radio technician before being drafted into the Army. Brennan tracks him down through post office mail carriers and disguises himself as a milkman to get a close look at Morgan and his apartment.
The police surround and raid the apartment that night, but Morgan, alerted by his dog's barking, flees through the attic and uses the Los Angeles storm drainage tunnel system as a means of escape. The film continues with a chase through the drainage tunnels. Roy is cornered by the police in a passage when his exit is blocked by the wheel of a police car atop a manhole cover; as police tear gas affects Roy, he fires one last time at them. He is shot down and killed; the final scene is notable for its resemblance to the final scene in The Third Man in which Orson Welles' character is chased through the sewers of Vienna. No known connection between the films has been established. Richard Basehart as Roy Martin/Roy Morgan Scott Brady as Sgt. Marty Brennan Roy Roberts as Captain Breen Whit Bissell as Paul Reeves an electronics dealer James Cardwell as Sgt. Chuck Jones Jack Webb as Lee Variety magazine gave the film a positive review:He Walked by Night is a high-tension crime thriller, supercharged with violence but sprung with finesse.
Top credits for this film's wallop is shared by the several scripters, director Alfred Werker and a small, but superb cast headed by Richard Basehart... Starting in high gear, the film increases in momentum until the cumulative tension explodes in a powerful crime-doesn't pay climax. Striking effects are achieved through counterpoint of the slayer's ingenuity in eluding the cops and the police efficiency in bringing him to book. High-spot of the film is the final sequence which takes place in LA's storm drainage tunnel system where the killer tries to make his getaway. With this role, Basehart establishes himself as one of Hollywood's most talented finds in recent years, he overshadows the rest of the cast, although Scott Brady, Roy Roberts and Jim Cardwell, as the detectives, deliver with high competence. Film is marked by realistic camera work and a solid score. Locarno International Film Festival: Special Prize, Best Police Film, Alfred L. Werker. List of films in the public domain in the United States He Walked by Night at the American Film Institute Catalog He Walked by Night on IMDb He Walked by Night at AllMovie He Walked by Night at the TCM Movie Database He Walked by Night is available for free download at the Internet Archive He Walked By Night 2016 CC is available for free download at the Internet Archive He Walked by Night film clip on YouTube
The Noose Hangs High
The Noose Hangs High is a 1948 film starring the comedy team of Abbott and Costello. The film is a remake of the Universal Pictures film For Money. Ted Higgins and Tommy Hinchcliffe work for the Speedy Service Window Washing Company, they run into a bookie named Nick Craig, after mistaking them for employees of the Speedy Messenger Service, sends them to Mr. Stewart's office to collect $50,000 owed to him, but Stewart has plans of his own: he hires two thugs to rob Ted and Tommy of the money he has just paid. Tommy flees from the robbers and takes refuge in a room with a gaggle of women who are mailing face powder samples, he hides the money in an envelope and addresses it to Craig, but it is accidentally switched with an envelope containing a powder sample. Ted and Tommy explain what happened; when face powder arrives in the mail, an irate Craig gives Ted and Tommy 24 hours to return his money. The boys attempt to contact everyone on the mailing list until they locate the recipient, who informs them that she spent most of the money and has only about $2,000 left.
The three of them go to the race track hoping to gamble the remaining cash to win enough money to pay back Craig. They encounter a strange fellow named Julius Caesar, they refuse to follow his betting advice, only to see his horse win, they are left with nothing. Ted, abandoning hope, decides that they would be safest in jail, so they run up a huge tab in a nightclub. Just as they are about to be arrested and his henchmen show up and demand the money. After Ted and Tommy reply that they do not have it, the thugs take them to a nearby construction warehouse and begin pouring cement in which to dump them. Meanwhile and Caesar have been sitting at the bar, betting large amounts on fish at the club's aquarium. Caesar hands her the $50,000 that she has just won, to her amazement, it turns out Caesar is an eccentric millionaire named J. C. MacBride, they all arrive at the warehouse in time to pay back Craig. Bud Abbott as Ted Higgins Lou Costello as Tommy Hinchcliffe Joseph Calleia as Nick Craig Leon Errol as Julius Caesar'J.
C.' McBride Cathy Downs as Carol Blair Mike Mazurki as Chuck Fritz Feld as psychiatrist The Noose Hangs High was filmed from November 13 through December 10, 1947 under the terms of a new deal signed with Universal after completion of The Wistful Widow of Wagon Gap. Those terms specified that Abbott and Costello were permitted to make one film a year with another company. Universal intended to make this film with Costello. However, under the terms of their contract, the duo decided to purchase the story from the studio and made it themselves at Eagle-Lion, which had taken over the studios of Poverty Row studio Producers Releasing Corporation; the film came $41,900 under. Dress/Undress, with Abbott going back and forth about whether they should get away or not with Costello taking his pants off and putting it on again as instructed. Mudder and Fodder, where Costello is explained the meaning of different types of horse. In this case he mistakes a horse who can run well in the mud as'mother' and the food, fed to a horse as'father'.
This routine was first used in It Ain't Hay. Phone Booth, where Costello attempts to call Craig from a phone booth, he is given a number where Craig can be reached and he calls it, unaware it is the phone booth next to him. Craig answers the phone and they have an argument with each other, unaware that they are right next to each other; this routine was first used in Keep'Em Flying. You're 40, She's 10, where Abbott tries to explain to Costello how a girl younger than him can get closer in age to him as they get older. Mustard The film was released on DVD on May 17, 2005. A remastered version was released on Blu-ray and DVD on August 15, 2017; the Noose Hangs High on IMDb The Noose Hangs High at the TCM Movie Database
United Artists Corporation doing business as United Artists Digital Studios, is an American film and television entertainment studio. Founded in 1919 by D. W. Griffith, Charlie Chaplin, Mary Pickford, Douglas Fairbanks, the studio was premised on allowing actors to control their own interests, rather than being dependent upon commercial studios. UA was bought and restructured over the ensuing century; the current United Artists company exists as a successor to the original. Metro-Goldwyn-Mayer acquired the studio in 1981 for a reported $350 million. On September 22, 2014, MGM acquired a controlling interest in Mark Burnett and Roma Downey's entertainment companies One Three Media and Lightworkers Media merged them to revive United Artists' TV production unit as United Artists Media Group. However, on December 14 of the following year, MGM wholly acquired UAMG and folded it into MGM Television. UA was revived yet again in 2018 as United Artists Digital Studios. Mirror, the joint distribution venture between MGM and Annapurna Pictures was renamed as United Artists Releasing in early February 2019 just in time for UA's 100th anniversary.
Pickford, Chaplin and Griffith incorporated UA as a joint venture on February 5, 1919. Each held a 25 percent stake in the preferred shares and a 20 percent stake in the common shares of the joint venture, with the remaining 20 percent of common shares held by lawyer and advisor William Gibbs McAdoo; the idea for the venture originated with Fairbanks, Chaplin and cowboy star William S. Hart a year earlier. Hollywood veterans, the four stars talked of forming their own company to better control their own work, they were spurred on by established Hollywood producers and distributors who were tightening their control over actor salaries and creative decisions, a process that evolved into the studio system. With the addition of Griffith, planning began; when he heard about their scheme, Richard A. Rowland, head of Metro Pictures said, "The inmates are taking over the asylum." The four partners, with advice from McAdoo, formed their distribution company. Hiram Abrams was its first managing director, the company established its headquarters at 729 Seventh Avenue in New York City.
The original terms called for each star to produce five pictures a year. By the time the company was operational in 1921, feature films were becoming more expensive and polished, running times had settled at around ninety minutes; the original goal was thus abandoned. UA's first film, His Majesty, the American, written by and starring Fairbanks, was a success. Funding for movies was limited. Without selling stock to the public like other studios, all United had for finance was weekly prepayment installments from theater owners for upcoming movies; as a result, production was slow, the company distributed an average of only five films a year in its first five years. By 1924, Griffith had dropped out, the company was facing a crisis. Veteran producer Joseph Schenck was hired as president, he had produced pictures for a decade, brought commitments for films starring his wife, Norma Talmadge, his sister-in-law, Constance Talmadge, his brother-in-law, Buster Keaton. Contracts were signed with independent producers, including Samuel Goldwyn, Howard Hughes.
In 1933, Schenck organized a new company with Darryl F. Zanuck, called Twentieth Century Pictures, which soon provided four pictures a year, forming half of UA's schedule. Schenck formed a separate partnership with Pickford and Chaplin to buy and build theaters under the United Artists name, they began international operations, first in Canada, in Mexico. By the end of the 1930s, United Artists was represented in over 40 countries; when he was denied an ownership share in 1935, Schenck resigned. He set up 20th Century Pictures' merger with Fox Film Corporation to form 20th Century Fox. Al Lichtman succeeded Schenck as company president. Other independent producers distributed through United Artists in the 1930s including Walt Disney Productions, Alexander Korda, Hal Roach, David O. Selznick, Walter Wanger; as the years passed, the dynamics of the business changed, these "producing partners" drifted away. Samuel Goldwyn Productions and Disney went to Wanger to Universal Pictures. In the late 1930s, UA turned a profit.
Goldwyn was providing most of the output for distribution. He sued United several times for disputed compensation leading him to leave. MGM's 1939 hit Gone with the Wind was supposed to be a UA release except that Selznick wanted Clark Gable, under contract to MGM, to play Rhett Butler; that year, Fairbanks died. UA became embroiled in lawsuits with Selznick over his distribution of some films through RKO. Selznick considered UA's operation sloppy, left to start his own distribution arm. In the 1940s, United Artists was losing money because of poorly received pictures. Cinema attendance continued to decline; the company sold its Mexican releasing division to Crédito Cinematográfico Mexicano, a local company. In 1941, Chaplin, Orson Welles, Selznick, Alexander Korda, Wanger—many of whom were members of United Artists--formed the Society of Independent Motion Picture Producers. Members included Hunt Stromberg, William Cagney, Sol L
J. Arthur Rank
Joseph Arthur Rank, 1st Baron Rank was a British industrialist, head and founder of the Rank Organisation. Rank was born on 22 or 23 December 1888 at Kingston upon Hull in England into a Victorian family environment, dominated by his father Joseph Rank who had built a substantial flour milling business, he was educated at The Leys School in Cambridge. Joseph is reported to have told his son Arthur that he was "a dunce at school" and that the only way that he could succeed in life would be in his father's flour mill. J. Arthur ventured on his own with Peterkins Self-Raising Flour, but when that business failed he returned to work for his father; that was the business that he inherited and which became known as Rank Hovis McDougall. Rank was a devout member of the Methodist Church and in his middle age he taught Sunday School to which he began to show religious films; this practice expanded to other churches and schools and it led to his formation of the Religious Film Society to which he distributed films that he had made.
His first production was called Mastership. When the Methodist Times newspaper began to complain about the negative influence that British and American films shown in Britain were having on family life, their editorial was answered by the London Evening News who suggested that instead of complaining, the Methodist Church should provide a solution. Rank took up the challenge and via an introduction by a young film producer named John Corfield, he discussed both the problem and a solution with Lady Yule of Bricket Wood; the net result of these meetings was the formation of the British National Films Company. The first commercial production by this company was Turn of the Tide, a movie based upon a published 1932 novel by Leo Walmsley called Three Fevers. Having created their movie, British National had to get it distributed and exhibited, but this proved to be more difficult than making the movie itself; some commercial screens began showing Turn of the Tide as a second feature, but this was not enough exposure for the company to make a profit.
Having first created a film production company and having made a movie at another studio, Lady Yule and John Corfield began talking to Charles Boot who had bought the estate of Heatherden Hall at Iver Heath, for the purpose of turning it into a movie studio that would rival those in Hollywood, California. In 1935 the trio became owner-operators of Pinewood Film Studios. Lady Yule sold her shares to Rank while John Corfield resigned from its board of directors; the problems encountered in the distribution of Turn of the Tide were addressed when Rank discovered that the people who controlled the British film industry had ties to the American movie industry and that for all practical purposes he was shut out of his own domestic market. American films occupied 80% of British screen time during the era before World War II. In 1935 Rank arrived at a solution to his distribution problems; because the middlemen controlled the distribution pipeline from production to exhibition, he decided to buy a large part of both the distribution and exhibition systems.
He began by forming a partnership with film maker C. M. Woolf to form General Film Distributors, which in 1936 was incorporated in Rank's General Cinema Finance Corporation but continued to handle all distribution for the Rank organisation until 1955, when it was renamed J. Arthur Rank Film Distributors. In 1939 Rank consolidated his film production interests in both the Pinewood Film Studios and the Denham Film Studios. In 1938 Rank bought the Odeon Cinemas chain, and the Amalgamated Studios in Elstree. In 1941, it absorbed the Gaumont British, which owned 251 cinemas, the Lime Grove Studios, bought the Paramount Cinemas chain, so that by 1942 the Rank Organisation owned 619 cinemas. Other interests were acquired which would be added to the interests in a few more years) within a new company called the Rank Organisation. Rank retired as Chairman in 1962 and was succeeded by John Davis, Managing Director since 1948. During the 1940s, the companies Rank controlled produced some of the finest British films of the period, including: The Life and Death of Colonel Blimp, Henry V, A Matter of Life and Death, Black Narcissus, The Red Shoes.
From the 1950s fewer adventurous films were attempted and solidly commercial ventures aimed at the family market, were made instead. These include the various Doctor... films. However some films of note were produced during this era including: Carve Her Name With Pride, Victim, as well as a clutch of prestige topics such as the coronation of Elizabeth II in 1953 and filmed performances by The Royal Ballet. Although his critics claimed that many of the films that he had produced under the name of Rank were not in keeping with his original intention of producing "family-friendly" films to challenge American competition, he kept to his core beliefs. To that end in 1953 he set up the J. Arthur Rank Group Charity to promote Christian belief; the charity became known as The Rank Foundation. He was a governor of The Peckham Experiment in 1949. In 1957 J. Arthur Rank was raised to the peerage as Baron Rank, of Sutton Scotney in the County of Southampton. Inspired by his personal knowledge of the Brazilian Fundação Estudar, the Rank Fellowship was created in 2003 by Rank's e
Anthony Mann was an American actor and film director, best remembered for his work in the film noir and Westerns genres. As a director, he collaborated with the cinematographer John Alton, he directed films for a variety of production companies, from RKO to MGM, worked with many major stars of the era. He made several Westerns with James Stewart, such as Winchester'73, he was the director of the medieval epic El Cid, working with Charlton Heston and Sophia Loren, he directed the big-budget film Cimarron, which starred Glenn Ford and Maria Schell. Mann was born Emil Anton Bundsmann in California, his father, Emile Theodore Bundsmann, an academic, was from an Austrian Catholic family, his mother, Bertha Weichselbaum, a drama teacher, was an American of Bavarian Jewish descent. Shortly after their marriage, Mann's parents joined the proto-hippie religious cult of Lomaland in San Diego County where there was an emphasis on artistic and military training and where children were raised separately from their parents.
When Mann was three, his parents returned to his father's native Austria to seek treatment for Professor Bundsmann's ill health, leaving Mann behind in Lomaland. Mann's mother did not return for Mann until he was fourteen, only at the urging of a cousin who had paid him a visit and was worried about his treatment and situation at Lomaland. With his father permanently institutionalized and his mother struggled financially in Newark, New Jersey, with Mann maintaining many odd jobs throughout the remainder of his middle and high school years. Mann appeared in some high school productions with his friend and classmate, future Hollywood studio executive Dore Schary. Schary would graduate from Newark's Central High School. Mann took a night job that enabled him to look for stage work during the day, he used the name "Anton Bundsmann". He appeared as an actor in The Blue Peter, The Little Clay Cart, Uncle Vanya. In 1930 he began directing as well, but he continued to act, appearing in The Streets of New York, or Poverty is No Crime, The Bride the Sun Shines On.
He directed Thunder on the Left. He worked for various stock companies, in 1934 set up his own which became Long Island's Red Barn Playhouse, he directed So Proudly We Hail. During these years he met and married his first wife Mildred when they both worked at Macy's department store in New York City. Contrary to misleading newspaper reports, Mildred was a clerk and not manager, they would have two children and divorce in 1956. In 1937, Mann accepted an offer to work for Selznick International Pictures as a talent scout, casting director and screen test director. Among the films he worked on were The Adventures of Tom Sawyer and Rebecca, he stayed in New York and continued to direct plays such as Haiti for the Federal Theatre, The Big Blow. and The Hard Way. Mann became an assistant director by the 1940s, assisting Preston Sturges on the film Sullivan's Travels, subsequently directing low-budget assignments for RKO and Republic Pictures. Mann made his directorial debut with Dr. Broadway at Paramount.
He followed it with Moonlight in Havana at Universal. In 1944 it was reported. Mann went to Republic where he made Nobody's Darling, My Best Gal, Strangers in the Night, The Great Flamarion. Mann moved to RKO to direct Two O'Clock Courage and Sing Your Way Home back to Republic for Strange Impersonation, he did The Bamboo Blonde at RKO. Mann's career took a leap, it was a commercial success. He followed it with Railroaded!. He went back to RKO for Desperate had some other big successes at Eagle Lion with He Walked by Night and Raw Deal. Dore Schary head of production at MGM, hired Mann to make Border Incident, he did Reign of Terror for Eagle Lion, did some uncredited work on Follow Me Quietly at RKO. Mann's first "A" film was the Western The Furies at Paramount, he followed this with a Western at Universal, starring James Stewart, Winchester'73. It was a huge success. MGM hired Mann to direct Side Street, he stayed at that studio to do a popular Western with Robert Taylor, Devil's Doorway and a thriller with Dick Powell, The Tall Target.
Mann was reunited with Stewart for another Western at Bend of the River. The actor and director made a contemporary adventure film, Thunder Bay at Universal and a Western, The Naked Spur at MGM. Mann and Stewart had their biggest success to-date with The Glenn Miller Story. Well received was their "Northern", The Far Country. Mann went to Columbia to make a Western without The Last Frontier, with Victor Mature. Star and director were reunited on The Man from Laramie at Columbia. Stewart and Mann were meant to make Night Passage together, but had a disagreement and another director took over. Mann directed a musical starring Serenade, he married one of Sarita Montiel. He made a western with Henry Fonda, The Tin Star teamed with Philip Yordan to make two movies starring Robert Ryan and Aldo Ray, Men in War, a war film, God's Little Acre. In between, he directed Gary Cooper in Man of the West. Mann went to MGM to direct Glenn Ford in an expensive remake of Cimarron, which failed t
A film studio is a major entertainment company or motion picture company that has its own owned studio facility or facilities that are used to make films, handled by the production company. The majority of firms in the entertainment industry have never owned their own studios, but have rented space from other companies. There are independently owned studio facilities, who have never produced a motion picture of their own because they are not entertainment companies or motion picture companies; the largest film studio in the world is Ramoji Film City, in India. In 1893, Thomas Edison built the first movie studio in the United States when he constructed the Black Maria, a tarpaper-covered structure near his laboratories in West Orange, New Jersey, asked circus and dramatic actors to perform for the camera, he distributed these movies at vaudeville theaters, penny arcades, wax museums, fairgrounds. The first film serial, What Happened to Mary, was released by the Edison company in 1912; the pioneering Thanhouser film studio was founded in New Rochelle, New York in 1909 by American theatrical impresario Edwin Thanhouser.
The company produced and released 1,086 films between 1910 and 1917 distributing them around the world. In the early 1900s, companies started moving to California. Although electric lights were by widely available, none were yet powerful enough to adequately expose film; some movies were shot on the roofs of buildings in Downtown Los Angeles. Early movie producers relocated to Southern California to escape Edison's Motion Picture Patents Company, which controlled all the patents relevant to movie production at the time; the first movie studio in the Hollywood area was Nestor Studios, opened in 1911 by Al Christie for David Horsley. In the same year, another 15 independents settled in Hollywood. Other production companies settled in the Los Angeles area in places such as Culver City and what would soon become known as Studio City in the San Fernando Valley; the Big 5 By the mid-1920s, the evolution of a handful of American production companies into wealthy motion picture industry conglomerates that owned their own studios, distribution divisions, theaters, contracted with performers and other filmmaking personnel, led to the sometimes confusing equation of "studio" with "production company" in industry slang.
Five large companies, 20th Century Fox, RKO Pictures, Paramount Pictures, Warner Bros. and Metro-Goldwyn-Mayer came to be known as the "Big Five," the "majors," or "the Studios" in trade publications such as Variety, their management structures and practices collectively came to be known as the "studio system." The Little 3 Although they owned few or no theaters to guarantee sales of their films, Universal Pictures, Columbia Pictures, United Artists fell under these rubrics, making a total of eight recognized "major studios". United Artists, although its controlling partners owned not one but two production studios during the Golden Age, had an often-tenuous hold on the title of "major" and operated as a backer and distributor of independently produced films. Smaller studios operated with "the majors." These included operations such as Republic Pictures, active from 1935, which produced films that matched the scale and ambition of the larger studio, Monogram Pictures, which specialized in series and genre releases.
Together with smaller outfits such as PRC TKO and Grand National, the minor studios filled the demand for B movies and are sometimes collectively referred to as Poverty Row. The Big Five's ownership of movie theaters was opposed by eight independent producers, including Samuel Goldwyn, David O. Selznick, Walt Disney, Hal Roach, Walter Wanger. In 1948, the federal government won a case against Paramount in the Supreme Court, which ruled that the vertically integrated structure of the movie industry constituted an illegal monopoly; this decision, reached after twelve years of litigation, hastened the end of the studio system and Hollywood's "Golden Age". By the 1950s, the physical components of a typical major film studio had become standardized. Since a major film studio has been housed inside a physically secure compound with a high wall, which protects filmmaking operations from unwanted interference from paparazzi and crazed fans of leading movie stars. Movement in and out of the studio is limited to specific gates, where visitors must stop at a boom barrier and explain the purpose of their visit to a security guard.
Studio premises feature multiple sound stages along with an outside backlot, as well as offices for studio executives and production companies. There is a studio "commissary", the traditional term in the film industry for what other industries call a company cafeteria. Early nitrate film was notoriously flammable, sets were and are still flammable, why film studios built in the early-to-mid 20th century have water towers to facilitate firefighting. Halfway through the 1950s, with television proving to be a lucrative enterprise not destined to disappear any time soon—as many in the film industry had once hoped—movie studios were being used to produce programming for the burgeoning medium; some midsize film companies, such as Republic Pictures sold their studios to TV production concerns, which were bought by larger studios, such as the American Broadcasting Company, purchased by The Walt Disney Company i
Bank of America
The Bank of America Corporation is an American multinational investment bank and financial services company based in Charlotte, North Carolina with central hubs in New York City, Hong Kong and Toronto. Bank of America was formed through NationsBank's acquisition of BankAmerica in 1998, it is the second largest banking institution in the United States, after JP Morgan Chase. As a part of the Big Four, it services 10.73% of all American bank deposits, in direct competition with Citigroup, Wells Fargo, JPMorgan Chase. Its primary financial services revolve around commercial banking, wealth management, investment banking. Founded as the Bank of Italy by Amadeo Pietro Giannini in 1904, it provided Italian immigrants who faced service discrimination various banking options. Headquartered in San Francisco, Giannini renamed his bank Banca d'America e d'Italia in 1922, expanded further into California; the passage of landmark federal banking legislation facilitated rapid growth in the 1950s establishing a prominent market share.
After suffering a significant loss after the 1998 Russian bond default, BankAmerica, as it was known, was acquired by the Charlotte-based NationsBank for US$62 billion. Following what was the largest bank acquisition in history, the Bank of America Corporation was founded. Through a series of mergers and acquisitions, it built upon its commercial banking business by establishing Merrill Lynch for wealth management and Bank of America Merrill Lynch for investment banking in 2008 and 2009, respectively. Since both divisions carry the "Merrill Lynch" signage, the former is referred to as "Merrill Lynch Wealth Management" to differentiate itself from the latter. Both Bank of America Merrill Lynch and Merrill Lynch Wealth Management retain large market shares in their respective offerings; the investment bank is considered within the "Bulge Bracket" as the third largest investment bank in the world, as of 2018. Its wealth management side manages US$1.081 trillion in assets under management as the second largest wealth manager in the world, after UBS.
In commercial banking, Bank of America operates—but does not maintain retail branches–in all 50 states of the United States, the District of Columbia and more than 40 other countries. Its commercial banking footprint encapsulates 46 million consumer and small business relationships at 4,600 banking centers and 15,900 automated teller machines; the bank's large market share, business activities, economic impact has led to numerous lawsuits and investigations regarding both mortgages and financial disclosures dating back to the 2008 financial crisis. Its corporate practices of servicing the middle class and wider banking community has yielded a substantial market share since the early 20th century; as of August 2018, Bank of America has a $313.5 billion market capitalization, making it the 13th largest company in the world. As the sixth largest American public company, it garnered $102.98 billion in sales as of June 2018. Bank of America was ranked #24 on the 2018 Fortune 500 rankings of the largest United States corporations by total revenue.
Bank of America was named the "World's Best Bank" by the Euromoney Institutional Investor in their 2018 Awards for Excellence. The Bank of America name first appeared with the formation of Bank of America, Los Angeles. In 1928, it was acquired by Bank of Italy of San Francisco, which took the Bank of America name two years later; the eastern portion of the Bank of America franchise traces its roots to 1792, with the founding of the Providence Bank in Providence, Rhode Island–the earliest forerunner of FleetBoston. In 1874, Commercial National Bank was founded in Charlotte; that bank merged with American Trust Company in 1958 to form American Commercial Bank. Two years it became North Carolina National Bank when it merged with Security National Bank of Greensboro. In 1991, it merged with C&S / Sovran Corporation of Norfolk to form NationsBank; the central portion of the franchise dates to 1910, when Commercial National Bank and Continental National Bank of Chicago merged in 1910 to form Continental & Commercial National Bank, which evolved into Continental Illinois National Bank & Trust.
The history of Bank of America dates back to October 17, 1904, when Amadeo Pietro Giannini founded the Bank of Italy in San Francisco. The Bank of Italy served the needs of many immigrants settling in the United States at that time, providing services denied to them by the existing U. S. banks which discriminated against them and denied service to all but the wealthiest. Giannini was raised by his mother and stepfather Lorenzo Scatena after his father was fatally shot over a pay dispute with an employee; when the 1906 San Francisco earthquake struck, Giannini was able to save all deposits out of the bank building and away from the fires. Because San Francisco's banks were in smoldering ruins and unable to open their vaults, Giannini was able to use the rescued funds to commence lending within a few days of the disaster. From a makeshift desk consisting of a few planks over two barrels, he lent money to those who wished to rebuild. In 1922, Bank of America, Los Angeles was established with Giannini as a minority investor.
This bank was headed by Orra E. Monnette. Between 1923 and 1930, when the two organizations operated separately. Giannini established Bank of Italy. In 1986, Deutsche Bank AG acquired 100% of Banca d'America e d'Italia, a bank established in Naples in 1917 following the name-change of Banca dell'Italia Meridionale with the latter established in 1918. In 1918 another corporation, Bancitaly Corporation, was organized by A. P. Giannini, the largest stockholder of which was