Mondelēz International, Inc. is an American multinational confectionery and beverage company based in Illinois which employs about 83,000 people around the world. It consists of the global snack and food brands of Kraft Foods Inc. after the October 2012 spin-off of its North American grocery-foods products. The Mondelez name, adopted in 2012, was suggested by Kraft Foods employees and is derived from the Latin word mundus and delez, a fanciful modification of the word "delicious"; the company, headquartered near Chicago, manufactures chocolate, biscuits, gum and powdered beverages. Mondelez International's portfolio includes several billion-dollar brands such as Belvita, Chips Ahoy!, Oreo, Ritz, TUC, Triscuit, LU, Club Social and Peek Freans. The company has an annual revenue of about $26 billion and operates in 160 countries; the company ranked No. 117 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. Mondelez Canada holds the rights to Christie Brown and Company, which consists of brands such as Mr. Christie and Dad's Cookies.
Its head office is in Mississauga, with operations in Toronto, Hamilton and Montreal, Quebec. Mondelez International is rooted in the National Dairy Products Corporation, founded on December 10, 1923, by Thomas H. McInnerney and Edward E. Rieck; the company was formed to execute a rollup strategy in the fragmented United States ice cream industry, with acquisitions it expanded into the full range of dairy products. McInnerney operated the Hydrox Corporation, a Chicago ice-cream company. In 1923 he went to Wall Street to ask investment bankers to finance his plan to consolidate the United States ice-cream industry. McInnerney encountered resistance, with one banker disparaging the dairy industry, he persevered. As a result, National Dairy was formed with the merger of McInnerney's Hydrox with the Rieck-McJunkin Dairy Company of Pittsburgh; the company was listed on the New York Stock Exchange, with its initial public offering of 125,000 shares oversubscribed. National Dairy grew through a large number of acquisitions.
The company acquired more than 55 firms between 1923 and 1931, including: Born in Stevensville, Ontario in 1874, James L. Kraft emigrated to the United States in 1903 and began a wholesale door-to-door cheese business in Chicago, his first year of operations was "dismal", when he lost a horse. However, the business took hold and Kraft was joined by his four brothers to form the J. L. Kraft and Bros. Company in 1909. In 1912, the company established a headquarters in New York City to prepare for international expansion. By 1914 thirty-one varieties of cheese were sold across the US and Kraft opened a subsidiary cheese factory in Illinois. In 1915 the company developed pasteurized processed cheese, which did not require refrigeration and had a longer shelf life than conventional cheese; the following year Kraft began national advertising and made its first acquisition, a Canadian cheese company. In 1924, the company changed its name to the Kraft Cheese Company and was listed on the Chicago Stock Exchange.
Two years it was listed on the New York Stock Exchange. Kraft began to consolidate the US dairy industry through acquisition, competing with National Dairy and Borden. Acquisitions included: In 1928 Kraft acquired the Phenix Cheese Company, manufacturer of Philadelphia cream cheese, changed its name to Kraft Phenix; the following year, The New York Times reported that Kraft Phenix, the Hershey Company, Colgate were considering a merger. By 1930, Kraft Phenix controlled 40 percent of the cheese market in the US and was the country's third-largest dairy company after National Dairy and Borden; that year the company began operating after a merger with Fred Walker & Co.. At the 1930 acquisition, National Dairy had sales of $315 million, compared with $85 million for Kraft Phenix. National Dairy management ran the company. After the acquisition, the company was known as National Dairy and its management ran the company until 1969, when it was renamed Kraftco. Although the company's sales were dairy products, its product lines began to diversify from dairy products to caramel candies, macaroni-and-cheese dinners and margarine.
During the 1950s, it began to move away from low-value-added-commodity dairy products such as fluid milk. In 1933, National Dairy began advertising on radio. Two years Sealtest ice cream was introduced as a national brand, replacing the company's regional brands. During World War II, the company sent Britain four million pounds of cheese weekly. Around this time, Thomas McInnerney and James L. Kraft died. In 1947 the company sponsored Kraft Television Theatre; the product advertised on the program, MacLaren's Imperial Cheese, was selected because "... not only had no advertising appropriation whatsoever, but had not been distributed for several years". According to internal documents of J. Walter Thompson, "Although there was no other advertising support for it whatsoever, still grocery stores could not keep up with the demand."During the 1960s Kraft introduced fruit jellies, fruit preserves, marshmallo
GATX Corporation is an equipment finance company based in Chicago, Illinois. Founded in 1898, GATX's primary activities consist of railcar operating leasing in North America and Europe. In addition, GATX leases locomotives in North America, has significant investments in industrial equipment and marine assets, including ownership of the American Steamship Company, which operates on the Great Lakes; the CEO/Chairman is Brian A. Kenney. GATX Corporation is divided into four business segments: Rail North America, Rail International, American Steamship Company, Portfolio Management. Portfolio Management consists of the corporation's non-rail and non-Great Lakes assets. GATX is one of several major North American rail operating lessors, measured by fleet size, ranks as number two in this market behind GE Rail Services. Other major North American rail operating lessors include CIT, First Union, Union Tank Car Company, Trinity Industries Leasing, ARL, Helm Financial. GATX derives its name from its primary reporting mark for its North American railcars, "GATX".
The mark itself was derived from GATX's prior corporate name, "General American Transportation Corporation". History includes GATX working with famous designer Russel Wright to develop "Meladur", a famous melamine dinnerware from 1943-1945, using Melmac by American Cyanamid, to be used on passenger cars and in hospitals marked with the name "General American". Since all non-railroad owners of railcars must append an "X" to the end of their mark, GAT became GATX. GATX applies the GATX mark to tank cars, although the mark has been used in other examples such as with hoppers. GATX owns a number of other marks, including GABX, GAEX, GFSX, GOHX, GSCX, IPSX, TRIX. Many GATX cars carry a large "GATX" logo in the upper right-hand corner of the car regardless of the reporting mark they carry; the General American Transportation Corporation became GATX Rail Corporation, a unit of the GATX Corporation, on January 1, 2000. GATX engages in both net leasing of railcars. In a full-service lease, a GATX-owned mark is applied to the car, GATX maintains the railcar and pays for any required property insurance and property taxes.
In a net lease, the lessee applies its mark to the car, the lessee pays for any required property insurance and property taxes. On a net-leased car, there is no evidence of GATX ownership, although some net lease cars carry a GATX logo; the most common type of car in the GATX North American fleet is the tank car. GATX invests in nearly every type of railcar operated in North America. In Europe, tank cars make up GATX's largest fleet, but unlike in North America, GATX's European fleet includes substantial quantities of intermodal cars which are owned in a GATX joint venture called AAE Cargo. In contrast, GATX's North American intermodal car fleet is small; this is true of most North American operating lessors. GATX official website
ACCO Brands Corporation is an American manufacturer of office products. It was created by the merger of ACCO World from Fortune Brands with General Binding Corporation. In 1903, Fred J. Kline founded the Clipper Manufacturing Company in New York. In 1910, the company became the American Clip Company, first used the name "ACCO" as an initialism, which became the company's formal name in 1922. After many acquisitions, ACCO went public in 1983, was acquired in 1987 by American Brands. In 1990, ACCO acquired Hetzel in a company selling stationery products. In 1992, ACCO UK was created from the integration of Rexel Ltd.. ACCO UK is the UK's largest manufacturer of office products. In 2005, ACCO was spun off from Fortune Brands and, through the merger with the General Binding Corporation, ACCO Brands was formed. In 2012, ACCO Brands completed a $860 million deal to combine with MeadWestvaco’s Consumer and Office Products business; the transaction added brands like Mead, Five Star, Trapper Keeper, AT-A-GLANCE, Day Runner, Hilroy and Grafons to ACCO Brands' product line.
ACCO acquired Esselte Group Holdings in 2017. Derwent Cumberland Pencil Company General Binding Corporation Kensington Security Slot Swingline ACCO Brands home. Official Rexel Website
Abbott Laboratories is an American health care company with headquarters in Lake Bluff, United States. The company was founded by Chicago physician Wallace Calvin Abbott in 1888 to formulate known drugs, it split off the research-based pharmaceuticals into AbbVie in 2013. In 2017, revenues were $27.39 billion. Abbott has a broad range of branded generic pharmaceuticals, medical devices and nutrition products; the company's in-vitro diagnostics business performs immunoassays and blood screening. Its medical tests and diagnostic instrument systems are used worldwide by hospitals, blood banks, physician offices to diagnose and monitor diseases such as HIV, cancer, heart failure and metabolic disorders, as well as assess other indicators of health. In 1985, the company developed the first HIV blood-screening test. Abbott Point-of-Care manufactures diagnostic products for blood analysis to provide health care professionals diagnostics information at the point of patient care. Abbott provides point-of-care cardiac assays to the emergency department.
In 1888 at the age of 30, Wallace Abbott, an 1885 graduate of the University of Michigan, founded the Abbott Alkaloidal Company in Ravenswood, Chicago. At the time, he owned a drug store, his innovation was the use of the active part of a medicinal plant an alkaloid, which he formed into tiny "dosimetric granules". This approach was successful since it produced more effective dosages for patients. In 1922 he moved the company from Ravenswood to Illinois. Abbott's first international affiliate was in London in 1907, the company added an affiliate in Montreal, Canada. Abbott started operations in Pakistan as a marketing affiliate in 1948. Two manufacturing facilities located at Landhi and Korangi in Karachi continue to produce pharmaceutical products. Expansion continued in 1962 when Abbott entered into a joint venture with Dainippon Pharmaceutical Co. Ltd. of Osaka, Japan, to manufacture radio-pharmaceuticals. In 1964, it merged with Ross Laboratories, making Ross a wholly owned subsidiary of Abbott, Richard Ross gained a seat on Abbott's board of directors until his retirement in 1983.
In 1965, Abbott's expansion in Europe continued with offices in France. Abbott Laboratories has been present in India for over 100 years through its subsidiary Abbott India Limited and it is India's largest healthcare products company.. According to Harvard professor Lester Grinspoon and Peter Hedblom, "In 1966 Abbott Laboratories sold the equivalent of two million doses of methamphetamine in powder form to a Long Island criminal dealer". In 2001, the company acquired Knoll, the pharmaceutical division of BASF. In 2002, it divested the Selsun Blue brand to Chattem. In 2002, the company sold Clear Eyes and Murine to Prestige Brands. In 2004, it spun off its hospital products division into a new 14,000 employee company named Hospira, acquired TheraSense, a diabetes-care company, which it merged with its MediSense division to become Abbott Diabetes Care. In 2006, Abbott assisted Boston Scientific in its purchase of Guidant Corporation; as part of the agreement, Abbott purchased the vascular device division of Guidant.
In 2007, Ross was renamed Abbott Nutrition. In 2007, Abbott acquired Kos Pharmaceuticals for $3.7 billion in cash. At the time of acquisition, Kos marketed Niaspan, which raises levels of “good,” or HDL, cholesterol and Advicor, a Niaspan combination drug for patients with multiple lipid disorders. In January 2007, the company agreed to sell its in vitro diagnostics and Point-of-Care diagnostics divisions to General Electric for more than $8 billion; these units were slated to be integrated into the GE Healthcare business unit. The transaction was approved by the boards of directors of Abbott and GE and was targeted to close in the first half of 2007. However, on July 11, 2007, Abbott announced that it had terminated its agreement with GE because the parties could not agree on the terms of the deal. On September 8, 2007, the company completed the sale of the UK manufacturing plant at Queenborough to Aesica Pharmaceuticals, a private equity-owned UK manufacturer. No announcements have been made restricting the movement of staff to Abbott unlike other sell outs.
On February 26, 2009, the company completed its acquisition of Advanced Medical Optics based in Santa Ana, California. In 2009, Abbott opened a satellite research and development facility at Research Park, University of Illinois at Urbana-Champaign. In February 2010, Abbott completed its $6.2 billion acquisition of the pharmaceuticals unit of Solvay S. A.. This provided Abbott with a large and complementary portfolio of pharmaceutical products and expanding its presence in key emerging markets. On March 22, 2010, the company completed its acquisition of a Hollywood, Florida-based LIMS company STARLIMS. Under the terms of the deal, Abbott Laboratories acquired the company for $14 per share in an all-cash transaction valued at $123 million. On May 21, 2010, Abbott Laboratories said it would buy Piramal Healthcare Ltd.'s Healthcare Solutions unit for $2.2 billion to become the biggest drug company in India. In October 2011, the company announced that it planned to separate into two companies, one research-based pharmaceuticals and the other in medical devices, generic drugs sold internationally, consumer products, with device company retaining the Abbott name.
The company announced that the other company would be named AbbVie in March
New York Stock Exchange
The New York Stock Exchange is an American stock exchange located at 11 Wall Street, Lower Manhattan, New York City, New York. It is by far the world's largest stock exchange by market capitalization of its listed companies at US$30.1 trillion as of February 2018. The average daily trading value was US$169 billion in 2013; the NYSE trading floor is located at 11 Wall Street and is composed of 21 rooms used for the facilitation of trading. A fifth trading room, located at 30 Broad Street, was closed in February 2007; the main building and the 11 Wall Street building were designated National Historic Landmarks in 1978. The NYSE is owned by Intercontinental Exchange, an American holding company that it lists, it was part of NYSE Euronext, formed by the NYSE's 2007 merger with Euronext. The NYSE has been the subject of several lawsuits regarding fraud or breach of duty and in 2004 was sued by its former CEO for breach of contract and defamation; the earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to the Buttonwood Agreement.
Securities exchange had been intermediated by the auctioneers who conducted more mundane auctions of commodities such as wheat and tobacco. On May 17, 1792 twenty four brokers signed the Buttonwood Agreement which set a floor commission rate charged to clients and bound the signers to give preference to the other signers in securities sales; the earliest securities traded were governmental securities such as War Bonds from the Revolutionary War and First Bank of the United States stock, although Bank of New York stock was a non-governmental security traded in the early days. The Bank of North America along with the First Bank of the United States and the Bank of New York were the first shares traded on the New York Stock Exchange. In 1817 the stockbrokers of New York operating under the Buttonwood Agreement instituted new reforms and reorganized. After sending a delegation to Philadelphia to observe the organization of their board of brokers, restrictions on manipulative trading were adopted as well as formal organs of governance.
After re-forming as the New York Stock and Exchange Board the broker organization began renting out space for securities trading, taking place at the Tontine Coffee House. Several locations were used between 1865, when the present location was adopted; the invention of the electrical telegraph consolidated markets, New York's market rose to dominance over Philadelphia after weathering some market panics better than other alternatives. The Open Board of Stock Brokers was established in 1864 as a competitor to the NYSE. With 354 members, the Open Board of Stock Brokers rivaled the NYSE in membership "because it used a more modern, continuous trading system superior to the NYSE’s twice-daily call sessions." The Open Board of Stock Brokers merged with the NYSE in 1869. Robert Wright of Bloomberg writes that the merger increased the NYSE's members as well as trading volume, as "several dozen regional exchanges were competing with the NYSE for customers. Buyers and dealers all wanted to complete transactions as and cheaply as technologically possible and that meant finding the markets with the most trading, or the greatest liquidity in today’s parlance.
Minimizing competition was essential to keep a large number of orders flowing, the merger helped the NYSE to maintain its reputation for providing superior liquidity." The Civil War stimulated speculative securities trading in New York. By 1869 membership had to be capped, has been sporadically increased since; the latter half of the nineteenth century saw rapid growth in securities trading. Securities trade in the latter nineteenth and early twentieth centuries was prone to panics and crashes. Government regulation of securities trading was seen as necessary, with arguably the most dramatic changes occurring in the 1930s after a major stock market crash precipitated the Great Depression; the Stock Exchange Luncheon Club was situated on the seventh floor from 1898 until its closure in 2006. The main building, located at 18 Broad Street, between the corners of Wall Street and Exchange Place, was designated a National Historic Landmark in 1978, as was the 11 Wall Street building; the NYSE announced its plans to merge with Archipelago on April 21, 2005, in a deal intended to reorganize the NYSE as a publicly traded company.
NYSE's governing board voted to merge with rival Archipelago on December 6, 2005, became a for-profit, public company. It began trading under the name NYSE Group on March 8, 2006. A little over one year on April 4, 2007, the NYSE Group completed its merger with Euronext, the European combined stock market, thus forming NYSE Euronext, the first transatlantic stock exchange. Wall Street is the leading US money center for international financial activities and the foremost US location for the conduct of wholesale financial services. "It comprises a matrix of wholesale financial sectors, financial markets, financial institutions, financial industry firms". The principal sectors are securities industry, commercial banking, asset management, insurance. Prior to the acquisition of NYSE Euronext by the ICE in 2013, Marsh Carter was the Chairman of the NYSE and the CEO was Duncan Niederauer. Presently, the chairman is Jeffrey Sprecher. In 2016, NYSE owner Intercontinental Exchange Inc. earned $419 million in listings-related revenues.
The exchange was closed shortly after the beginning of World War I, but it re-opened on November 28 of that year in order to help the war effort by trading bonds, reopened for stock tradin
Calamos Asset Management is a diversified global investment firm offering innovative investment strategies including U. S. growth equity, global equity, multi-asset and alternatives. The firm offers strategies through separately managed portfolios, mutual funds, closed-end funds, private funds, an exchange traded fund and UCITS funds. Clients include major corporations, pension funds, endowments and individuals, as well as the financial advisors and consultants who serve them. Headquartered in the Chicago metropolitan area, the firm has offices in London, New York and San Francisco. Calamos began as a boutique investment manager in the 1970s, developing strategies that maximized the potential of convertible securities to generate excess returns and manage risk. Calamos employs more than 300 individuals in Naperville, Illinois, as well as sales and client service professionals located throughout the United States and in England. John Calamos, Sr. is the Chairman, Chief Investment Officer, John S. Koudounis is Chief Executive Officer Official Calamos Website
A public company, publicly traded company, publicly held company, publicly listed company, or public limited company is a corporation whose ownership is dispersed among the general public in many shares of stock which are traded on a stock exchange or in over the counter markets. In some jurisdictions, public companies over a certain size must be listed on an exchange. A public company can be unlisted. Public companies are formed within the legal systems of particular nations, therefore have national associations and formal designations which are distinct and separate. For example one of the main public company forms in the United States is called a limited liability company, in France is called a "society of limited responsibility", in Britain a public limited company, in Germany a company with limited liability. While the general idea of a public company may be similar, differences are meaningful, are at the core of international law disputes with regard to industry and trade. In the early modern period, the Dutch developed several financial instruments and helped lay the foundations of modern financial system.
The Dutch East India Company became the first company in history to issue bonds and shares of stock to the general public. In other words, the VOC was the first publicly traded company, because it was the first company to be actually listed on an official stock exchange. While the Italian city-states produced the first transferable government bonds, they did not develop the other ingredient necessary to produce a fledged capital market: corporate shareholders; as Edward Stringham notes, "companies with transferable shares date back to classical Rome, but these were not enduring endeavors and no considerable secondary market existed." The securities of a publicly traded company are owned by many investors while the shares of a held company are owned by few shareholders. A company with many shareholders is not a publicly traded company. In the United States, in some instances, companies with over 500 shareholders may be required to report under the Securities Exchange Act of 1934. Public companies possess some advantages over held businesses.
Publicly traded companies are able to raise funds and capital through the sale of shares of stock. This is the reason publicly traded corporations are important; the profit on stock is gained in form of capital gain to the holders. The financial media and the public are able to access additional information about the business, since the business is legally bound, motivated, to publicly disseminate information regarding the financial status and future of the company to its many shareholders and the government; because many people have a vested interest in the company's success, the company may be more popular or recognizable than a private company. The initial shareholders of the company are able to share risk by selling shares to the public. If one were to hold a 100% share of the company, he or she would have to pay all of the business's debt; this increases asset liquidity and the company does not need to depend on funding from a bank. For example, in 2013 Facebook founder Mark Zuckerberg owned 29.3% of the company's class A shares, which gave him enough voting power to control the business, while allowing Facebook to raise capital from, distribute risk to, the remaining shareholders.
Facebook was a held company prior to its initial public offering in 2012. If some shares are given to managers or other employees, potential conflicts of interest between employees and shareholders will be remitted; as an example, in many tech companies, entry-level software engineers are given stock in the company upon being hired. Therefore, the engineers have a vested interest in the company succeeding financially, are incentivized to work harder and more diligently to ensure that success. Many stock exchanges require that publicly traded companies have their accounts audited by outside auditors, publish the accounts to their shareholders. Besides the cost, this may make useful information available to competitors. Various other annual and quarterly reports are required by law. In the United States, the Sarbanes–Oxley Act imposes additional requirements; the requirement for audited books is not imposed by the exchange known as OTC Pink. The shares may be maliciously held by outside shareholders and the original founders or owners may lose benefits and control.
The principal-agent problem, or the agency problem is a key weakness of public companies. The separation of a company's ownership and control is prevalent in such countries as U. K and U. S. In the United States, the Securities and Exchange Commission requires that firms whose stock is traded publicly report their major shareholders each year; the reports identify all institutional shareholders, all company officials who own shares in their firm, any individual or institution owning more than 5% of the firm's stock. For many years, newly created companies were held but held initial