Paramount Pictures Corporation is an American film studio based in Hollywood, a subsidiary of the American media conglomerate Viacom since 1994. Paramount is the fifth oldest surviving film studio in the world, the second oldest in the United States, the sole member of the "Big Five" film studios still located in the Los Angeles neighborhood of Hollywood. In 1916, film producer Adolph Zukor put 22 actors and actresses under contract and honored each with a star on the logo. In 2014, Paramount Pictures became the first major Hollywood studio to distribute all of its films in digital form only; the company's headquarters and studios are located at 5555 Melrose Avenue, California, United States. Paramount Pictures is a member of the Motion Picture Association of America. Paramount is the fifth oldest surviving film studio in the world after the French studios Gaumont Film Company and Pathé, followed by the Nordisk Film company, Universal Studios, it is the last major film studio still headquartered in the Hollywood district of Los Angeles.
Paramount Pictures dates its existence from the 1912 founding date of the Famous Players Film Company. Hungarian-born founder Adolph Zukor, an early investor in nickelodeons, saw that movies appealed to working-class immigrants. With partners Daniel Frohman and Charles Frohman he planned to offer feature-length films that would appeal to the middle class by featuring the leading theatrical players of the time. By mid-1913, Famous Players had completed five films, Zukor was on his way to success, its first film was Les Amours de la reine Élisabeth. That same year, another aspiring producer, Jesse L. Lasky, opened his Lasky Feature Play Company with money borrowed from his brother-in-law, Samuel Goldfish known as Samuel Goldwyn; the Lasky company hired as their first employee a stage director with no film experience, Cecil B. DeMille, who would find a suitable site in Hollywood, near Los Angeles, for his first feature film, The Squaw Man. Starting in 1914, both Lasky and Famous Players released their films through a start-up company, Paramount Pictures Corporation, organized early that year by a Utah theatre owner, W. W. Hodkinson, who had bought and merged several smaller firms.
Hodkinson and actor, producer Hobart Bosworth had started production of a series of Jack London movies. Paramount was the first successful nationwide distributor. Famous Players and Lasky were owned while Paramount was a corporation. In 1916, Zukor maneuvered a three-way merger of his Famous Players, the Lasky Company, Paramount. Zukor and Lasky bought Hodkinson out of Paramount, merged the three companies into one; the new company Lasky and Zukor founded, Famous Players-Lasky Corporation, grew with Lasky and his partners Goldwyn and DeMille running the production side, Hiram Abrams in charge of distribution, Zukor making great plans. With only the exhibitor-owned First National as a rival, Famous Players-Lasky and its "Paramount Pictures" soon dominated the business; because Zukor believed in stars, he signed and developed many of the leading early stars, including Mary Pickford, Marguerite Clark, Pauline Frederick, Douglas Fairbanks, Gloria Swanson, Rudolph Valentino, Wallace Reid. With so many important players, Paramount was able to introduce "block booking", which meant that an exhibitor who wanted a particular star's films had to buy a year's worth of other Paramount productions.
It was this system that gave Paramount a leading position in the 1920s and 1930s, but which led the government to pursue it on antitrust grounds for more than twenty years. The driving force behind Paramount's rise was Zukor. Through the teens and twenties, he built the Publix Theatres Corporation, a chain of nearly 2,000 screens, ran two production studios, became an early investor in radio, taking a 50% interest in the new Columbia Broadcasting System in 1928. In 1926, Zukor hired independent producer B. P. Schulberg, an unerring eye for new talent, to run the new West Coast operations, they purchased the Robert Brunton Studios, a 26-acre facility at 5451 Marathon Street for US$1 million. In 1927, Famous Players-Lasky took the name Paramount Famous Lasky Corporation. Three years because of the importance of the Publix Theatres, it became Paramount Publix Corporation. In 1928, Paramount began releasing Inkwell Imps, animated cartoons produced by Max and Dave Fleischer's Fleischer Studios in New York City.
The Fleischers, veterans in the animation industry, were among the few animation producers capable of challenging the prominence of Walt Disney. The Paramount newsreel series Paramount News ran from 1927 to 1957. Paramount was one of the first Hollywood studios to release what were known at that time as "talkies", in 1929, released their first musical, Innocents of Paris. Richard A. Whiting and Leo Robin composed the score for the film. By acquiring the successful Balaban & Katz chain in 1926, Zukor gained the services of Barney Balaban, his brother A. J. Balaban, their partner Sam Katz (who would run the Paramount-Publix theatre chain in New York City from the thirty-five-stor
Cinépolis is a Mexican chain of movie theaters. Its name means City of Cinema and its slogan is La Capital del Cine. Cinépolis is the biggest cineplex chain in Mexico with 427 theaters in 97 cities, it is the largest chain in Latin America and the fourth largest in the world, with over 624 theaters, 5000 screens and over 27,177 employees throughout Mexico, Honduras, El Salvador, Costa Rica, Chile, Brazil, Spain and the United States. Enrique Ramírez Villalón founded the Cine Morelos in Morelia, Michoacán, Mexico in 1947. Years the company was rebranded as Cinematográfica Cadena de Oro, S. A. opening theaters in Salamanca, Acámbaro and Guanajuato. By 1971, the brand had expanded to Mexico City with the opening of Cine La Raza. In 1972 Cinemas Gemelos was born and one year the national expansion of Multicinemas began; the company was rebranded in 1994 as Cinépolis with the first multiplex-style theaters in Tijuana. In 1999, Cinépolis VIP was created, it is believed to be the biggest cinema chain in Mexico.
Cinépolis VIP was created in 1999 and is considered one of the pioneers in the development of the Luxury Cinema concept. In 1997, Cineticket was created to give users the option to buy their tickets online instead of waiting to purchase at the venue. Cineticket was the first online theater ticket-selling-system in Mexico. On June 2, 2011, Cinépolis invested $25 million and partnered with the South Korean company CJ Group to open 11 4DX theaters throughout Mexico. 4DX features motion seats, wind effects and air spray, odors with over 100 scents. It first opened at the Plaza Acoxpa mall in Mexico City with the release of Disney's Pirates of the Caribbean: On Stranger Tides. On July 1, 2012, Cinépolis opened South America's first 4DX theater in Brazil at the JK Iguatemi shopping mall in São Paulo with the release of Prometheus and Ice Age: Continental Drift, it is the launch customer in the Western Hemisphere and is the second largest CJ Group customer with a total of thirteen 4DX theaters throughout Mexico and a total of seventeen 4DX theaters throughout Latin America.
Cinépolis has opened theatres in the capitals of Guatemala, El Salvador, Costa Rica and Colombia. Cinépolis failed. So far, 11 theatres have been opened outside Mexico under the Cinépolis brand, with a planned expansion to Peru, with the opening of a fourteen-screen theatre in Lima, a theatre in Cali, Colombia and a third in Tegucigalpa, Honduras. Cinépolis has plans to operate 500 screens in India with an investment of ₹ 1,500 crore and has signed deals with 12 developers in eight cities to set up 110 screens in the first phase. There are plans to enter into deals with developers to create 200 more screens across India by 2010. Cinépolis has locations in India at: Bhubaneswar, Thane, Amritsar, Bengaluru, Ahmedabad, Bhopal, Mangaluru, Hyderabad, Hubballi, Kolkata, Mumbai, Guwahati and Lucknow, it is scheduled to open in Chennai, Surat, Kozhikode and Ghaziabad. Cinépolis has opened the largest Cinépolis Megaplex in Seasons Mall, Pune with 15 screens and another Megaplex at Viviana Mall, Thane with 14 screens with IMAX, 4DX, Dolby Atmos.
Cinepolis Kochi operates 3 VIP screens, first of its kind in India. Cinépolis has its sub-brand in India known as Cinemastar, it was opened in December 2010 in Thane. Cinépolis USA, headquartered in Dallas, began operating luxury theaters in the United States in 2011. In November 2018 it revived the classic Bay Theatre in Pacific Palisades, California, as a plush five-screen cinema that features a coastal-themed menu at its concession stand, including an extensive wine list. One auditorium of the new Bay Theatre is equipped with an rare 35 mm film projector. In 2003, Organización Ramírez created the Cinépolis Foundation to help underprivileged people get medical care and education, its mission is to contribute to social justice in Mexico through visible health programs. In 2007 the foundation was awarded the International Accomplishment in Exhibition for its work in promoting activism within the Mexican community; the Foundation's program, Del Amor Nace la Vista has been recognised as The Best Practice in Social Responsibility.
They have signed association deals with twelve organizations in Mexico. Within Mexico in March 2015, an article from the Mexican edition of the Forbes magazine revealed that Cinepolis along its rival movie theater chain Cinemex, were fined $7 million pesos each for directly disobeying instructions by the Intituto Nacional Electoral, by showing political propaganda of the Partido Verde Ecologista de Mexico, with the political party itself being fined for $35 million pesos. In 2017, the Del Amor Nace La Vista charity foundation of Cinepolis was criticized for leaving 100 mayans indigens blind due to negligencies. Although Cinepolis said it was only two, no negligency was detected within the operations
Denver the City and County of Denver, is the capital and most populous municipality of the U. S. state of Colorado. Denver is located in the South Platte River Valley on the western edge of the High Plains just east of the Front Range of the Rocky Mountains; the Denver downtown district is east of the confluence of Cherry Creek with the South Platte River 12 mi east of the foothills of the Rocky Mountains. Denver is named after James W. Denver, a governor of the Kansas Territory, it is nicknamed the Mile High City because its official elevation is one mile above sea level; the 105th meridian west of Greenwich, the longitudinal reference for the Mountain Time Zone, passes directly through Denver Union Station. Denver is ranked as a Beta world city by World Cities Research Network. With an estimated population of 704,621 in 2017, Denver is the 19th-most populous U. S. city, with a 17.41% increase since the 2010 United States Census, it has been one of the fastest-growing major cities in the United States.
The 10-county Denver-Aurora-Lakewood, CO Metropolitan Statistical Area had an estimated 2017 population of 2,888,227 and is the 19th most populous U. S. metropolitan statistical area. The 12-city Denver-Aurora, CO Combined Statistical Area had an estimated 2017 population of 3,515,374 and is the 15th most populous U. S. metropolitan area. Denver is the most populous city of the 18-county Front Range Urban Corridor, an oblong urban region stretching across two states with an estimated 2017 population of 4,895,589. Denver is the most populous city within a 500-mile radius and the second-most populous city in the Mountain West after Phoenix, Arizona. In 2016, Denver was named the best place to live in the United States by U. S. News & World Report. In the summer of 1858, during the Pike's Peak Gold Rush, a group of gold prospectors from Lawrence, Kansas established Montana City as a mining town on the banks of the South Platte River in what was western Kansas Territory; this was the first historical settlement in what was to become the city of Denver.
The site faded however, by the summer of 1859 it was abandoned in favor of Auraria and St. Charles City. On November 22, 1858, General William Larimer and Captain Jonathan Cox, both land speculators from eastern Kansas Territory, placed cottonwood logs to stake a claim on the bluff overlooking the confluence of the South Platte River and Cherry Creek, across the creek from the existing mining settlement of Auraria, on the site of the existing townsite of St. Charles. Larimer named the townsite Denver City to curry favor with Kansas Territorial Governor James W. Denver. Larimer hoped the town's name would help make it the county seat of Arapaho County but, unbeknownst to him, Governor Denver had resigned from office; the location was accessible to existing trails and was across the South Platte River from the site of seasonal encampments of the Cheyenne and Arapaho. The site of these first towns is now the site of Confluence Park near downtown Denver. Larimer, along with associates in the St. Charles City Land Company, sold parcels in the town to merchants and miners, with the intention of creating a major city that would cater to new immigrants.
Denver City was a frontier town, with an economy based on servicing local miners with gambling, saloons and goods trading. In the early years, land parcels were traded for grubstakes or gambled away by miners in Auraria. In May 1859, Denver City residents donated 53 lots to the Leavenworth & Pike's Peak Express in order to secure the region's first overland wagon route. Offering daily service for "passengers, mail and gold", the Express reached Denver on a trail that trimmed westward travel time from twelve days to six. In 1863, Western Union furthered Denver's dominance of the region by choosing the city for its regional terminus; the Colorado Territory was created on February 28, 1861, Arapahoe County was formed on November 1, 1861, Denver City was incorporated on November 7, 1861. Denver City served as the Arapahoe County Seat from 1861 until consolidation in 1902. In 1867, Denver City became the acting territorial capital, in 1881 was chosen as the permanent state capital in a statewide ballot.
With its newfound importance, Denver City shortened its name to Denver. On August 1, 1876, Colorado was admitted to the Union. Although by the close of the 1860s, Denver residents could look with pride at their success establishing a vibrant supply and service center, the decision to route the nation's first transcontinental railroad through Cheyenne, rather than Denver, threatened the prosperity of the young town. A daunting 100 miles away, citizens mobilized to build a railroad to connect Denver to the transcontinental railroad. Spearheaded by visionary leaders including Territorial Governor John Evans, David Moffat, Walter Cheesman, fundraising began. Within three days, $300,000 had been raised, citizens were optimistic. Fundraising stalled before enough was raised, forcing these visionary leaders to take control of the debt-ridden railroad. Despite challenges, on June 24, 1870, citizens cheered as the Denver Pacific completed the link to the transcontinental railroad, ushering in a new age of prosperity for Denver.
Linked to the rest of the nation by rail, Denver prospered as a service and supply center. The young city grew during these years, attracting millionaires with their mansions, as well as the poverty and crime of a growing city. Denver citizens were proud when the rich chose Denver and were thrilled when Horace Tabor, the Leadville mining millionaire, built an impressive business block at 16th and Larimer as well as the el
Grauman's Chinese Theatre
TCL Chinese Theatre is a movie palace on the historic Hollywood Walk of Fame at 6925 Hollywood Blvd. in Hollywood, California. Named and still known as Grauman's Chinese Theatre, it was renamed Mann's Chinese Theatre in 1973. On January 11, 2013, Chinese electronics manufacturer TCL Corporation purchased the facility's naming rights, under which it is known as TCL Chinese Theatre; the original Chinese Theatre was commissioned following the success of the nearby Grauman's Egyptian Theatre, which opened in 1922. Built by a partnership headed by Sid Grauman over 18 months starting in January 1926, the theater opened May 18, 1927, with the premiere of Cecil B. DeMille's The King of Kings, it has since been home to many premieres, including the 1977 launch of George Lucas' Star Wars, as well as birthday parties, corporate junkets, three Academy Awards ceremonies. Among the theatre's most distinctive features are the concrete blocks set in the forecourt, which bear the signatures and handprints of popular motion picture personalities from the 1920s to the present day.
In 2013, the Chinese Theatre partnered with IMAX Corporation to convert the house into a custom-designed IMAX theater. The newly renovated theater seats 932 people and features one of the largest movie screens in North America. After his success with the Egyptian Theatre, Sid Grauman turned to Charles E. Toberman to secure a long-term lease from Francis X. Bushman on property at 6925 Hollywood Blvd. the site of Bushman's mansion. In appreciation, a plaque was installed on the front of the theater dedicating it to Bushman. Toberman contracted Meyer & Holler, designer of the Egyptian, to design a "palace-type theatre" of Chinese design. Grauman financed the theater's $2.1 million cost and owned a one-third interest in the Chinese Theatre. The principal architect was Raymond M. Kennedy of Holler. During construction, Grauman hired Jean Klossner to formulate an hard concrete for the forecourt of the theater. Klossner became known as "Mr. Footprint", performing the footprint ceremonies from 1927 through 1957.
Many stories exist to explain the origins of the footprints. The theater's official account credits Norma Talmadge as having inspired the tradition when she accidentally stepped into the wet concrete. However, in a short interview during the September 13, 1937, Lux Radio Theatre broadcast of a radio adaptation of A Star Is Born, Grauman related another version of how he got the idea to put hand and foot prints in the concrete, he said. I walked right into it. While we were building the theatre, I accidentally happened to step in some soft concrete, and there it was. So, I went to Mary Pickford immediately. Mary put her foot into it." Still another account by Klossner recounts that Klossner autographed his work next to the right-hand poster kiosk and that Grauman and he developed the idea and there. His autograph and handprint, dated 1927, remain today; the theater's third founding partner, Douglas Fairbanks, was the second celebrity after Talmadge to be immortalized in the concrete. In 1929, Grauman decided to sell his share to William Fox's Fox Theatres chain.
However, just a few months Howard Hughes convinced Grauman to return to the theater because he wanted Grauman to produce the world premiere of his aviation epic Hell's Angels, which would feature one of Grauman's famous theatrical prologues before the film. Grauman remained as the theater's managing director for the entire run of Hell's Angels, retiring once again after its run finished. Unsatisfied with retirement, Grauman returned to the theater as managing director on Christmas Day 1931 and kept that position until his death in 1950. One of the highlights of the Chinese Theatre has always been its décor. In 1952, John Tartaglia, the artist of nearby Saint Sophia Cathedral, became the head interior decorator of the Chinese Theatre, as well as the theater chain owned by Fox West Coast Theatres, he continued the work of Klossner, by recommendation of J. Walter Bantau, for the Hollywood footprint ceremonies. Tartaglia performed his first ceremony as a Master Mason for Jean Simmons in 1953, for the premiere of The Robe, the first premiere in Cinemascope.
Although replacing Klossner was thought to be a temporary job for Tartaglia, his dedication resulted in a 35-year career in which he last performed as the master mason/concrete artist in honor of Eddie Murphy in May 1987. The Chinese Theatre was declared a historic and cultural landmark in 1968, has undergone various restoration projects in the years since then. Ted Mann, owner of the Mann Theatres chain and husband of actress Rhonda Fleming, purchased it in 1973. From until 2001, it was known as Mann's Chinese Theatre. In the wake of Mann's 2000 bankruptcy, a partnership of Warner Bros. and Paramount Pictures acquired the theater, along with the other Mann properties and the Mann brand name. In 2000, Behr Browers Architects, a firm engaged by Mann Theatres, prepared a restoration and modernization program for the structure; the program included a seismic upgrade, new state-of-the-art sound and projection, new vending kiosks, exterior signage, the addition of a larger concession area under the balcony.
The program began in 2002 and restored the original name—"Grauman's Chinese Theatre"—to the cinema palace. As part of the upgrade, Behr Browers designed a new Chinese-themed six-plex in the attached Hollywood and Highland mall that continued to operate under the name Mann's Chinese 6 Theatre. In 2007, the CIM Group purchased the land on which the theater sits for an undisclosed
D-BOX Technologies Inc. designs and commercializes motion systems for the entertainment, simulation and training markets worldwide. It produces motion effects programmed for visual content, which are sent to a motion system integrated either within a platform, a seat, or various types of equipment; the company offers D-BOX motion systems and motion codes for simulation. It provides motion systems for heavy equipment and crane, automotive and racing simulation; the company serves the home entertainment markets, including home theatre and gaming, as well as for themed entertainment markets comprising arcades, virtual reality, amusement parks and planetariums. D-BOX Technologies Inc. is headquartered in Canada. D-BOX motion systems is present in more than 700 screens throughout 41 countries; the first feature film to have been encoded with D-BOX was Fast & Furious released on April 3, 2009 at the TCL Chinese Theatre, on Hollywood Boulevard in Los Angeles. As of today, over 1,800 titles are coded in D-BOX.
D-BOX is involve in the commercial entertainment industry, such as: Virtual Reality, Theme Park and Training, SimRacing and gaming. D-BOX Technologies first introduced its motion generating systems in 2001 to the home theater and PC gaming markets; the D-BOX system can be integrated within many different seats. For existing seating, motion can be added with the help of a D-BOX Motion Platform; as of 2013, the system supports a library of over 1,000 movies. D-BOX is collaborating with many film Exhibitors around the world like: D-BOX is working with movie studios such as: Paramount Pictures 20th Century Fox Warner Brothers Walt Disney Studios Universal Pictures STX Entertainment Lionsgate Films Sony Pictures Official website
Southern California is a geographic and cultural region that comprises California's southernmost counties, is the second most populous urban agglomeration in the United States. The region is traditionally described as eight counties, based on demographics and economic ties: Imperial, Los Angeles, Riverside, San Bernardino, San Diego, Santa Barbara, Ventura; the more extensive 10-county definition, which includes Kern and San Luis Obispo counties, is used and is based on historical political divisions. The Colorado Desert and the Colorado River are located on southern California's eastern border with Arizona, the Mojave Desert is located north on California's Nevada border. Southern California's southern border is part of the Mexico–United States border. Southern California includes the built-up urban area which stretches along the Pacific coast from Ventura through Greater Los Angeles down to Greater San Diego, inland to the Inland Empire and Coachella Valley, it encompasses eight metropolitan areas, three of which together form the Greater Los Angeles Combined Statistical Area with over 18 million people, the second-biggest CSA after the New York CSA.
These three MSAs are: the Los Angeles metropolitan area, the Inland Empire (, the Oxnard–Thousand Oaks–Ventura metropolitan area. In addition, Southern California contains the San Diego metropolitan area with 3.3 million people, Bakersfield metro area with 0.9 million, the Santa Barbara, San Luis Obispo, El Centro metropolitan areas. The Southern California Megaregion is larger still, extending east into Las Vegas and south across the Mexican border into Tijuana. Within southern California are two major cities, Los Angeles and San Diego, as well as three of the country's largest metropolitan areas. With a population of 4,042,000, Los Angeles is the most populous city in California and the second most populous in the United States. South of Los Angeles and with a population of 1,307,402 is San Diego, the second most populous city in the state and the eighth most populous in the nation; the counties of Los Angeles, San Diego, San Bernardino, Riverside are the five most populous in the state, are in the top 15 most populous counties in the United States.
The motion picture and music industry are centered in the Los Angeles area in southern California. Hollywood, a district of Los Angeles, gives its name to the American motion picture industry, synonymous with the neighborhood name. Headquartered in southern California are The Walt Disney Company, Sony Pictures, Universal Pictures, MGM, Paramount Pictures, 20th Century Fox, Warner Bros. Universal, Warner Bros. and Sony run major record companies. Southern California is home to a large homegrown surf and skateboard culture. Companies such as Vans, Quiksilver, No Fear, RVCA, Body Glove are all headquartered here. Skateboarder Tony Hawk; some of the most famous surf locations are in southern California as well, including Trestles, The Wedge, Huntington Beach, Malibu. Some of the world's largest action sports events, including the X Games, Boost Mobile Pro, the U. S. Open of Surfing, are held in southern California; the region is important to the world of yachting with premier events including the annual Transpacific Yacht Race, or Transpac, from Los Angeles to Hawaii.
The San Diego Yacht Club held the America's Cup, the most prestigious prize in yachting, from 1988 to 1995 and hosted three America's Cup races during that time. The first modern era triathlon was held in Mission Bay, San Diego, California in 1974. Since southern California, San Diego in particular have become a mecca for triathlon and multi-sport racing and culture. Southern California is home to many sports sports networks such as Fox Sports Net. Many locals and tourists frequent the southern California coast for its beaches; the inland desert city of Palm Springs is popular. Southern California is not a formal geographic designation and definitions of what constitutes southern California vary. Geographically, California's North-South midway point lies at 37° 9' 58.23" latitude, around 11 miles south of San Jose. When the state is divided into two areas, the term southern California refers to the 10 southernmost counties of the state; this definition coincides neatly with the county lines at 35° 47′ 28″ North latitude, which form the northern borders of San Luis Obispo and San Bernardino counties.
Another definition for southern California uses Point Conception and the Tehachapi Mountains as the northern boundary. Though there is no official definition for the northern boundary of southern California, such a division has existed from the time when Mexico ruled California and political disputes raged between the Californios of Monterey in the upper part and Los Angeles in the lower part of Alta California. Following the acquisition of California by the United States, the division continued as part of the attempt by several pro-slavery politicians to arrange the division of Alta California at 36 degrees, 30 minutes, the line of the Missouri Compromise. Instead, the passing of the Compromise of 1850 enabled California to be a
A conglomerate is a combination of multiple business entities operating in different industries under one corporate group involving a parent company and many subsidiaries. A conglomerate is a multi-industry company. Conglomerates are large and multinational. Conglomerates were popular in the 1960s due to a combination of low interest rates and a repeating bear-bull market, which allowed the conglomerates to buy companies in leveraged buyouts, sometimes at temporarily deflated values. Famous examples from the 1960s include Ling-Temco-Vought, ITT Corporation, Litton Industries, Teledyne; because of low interest on the loans, the overall return on investment of the conglomerate appeared to grow. The conglomerate had a better ability to borrow in the money market, or capital market, than the smaller firm at their community bank. For many years this was enough to make the company's stock price rise, as companies were valued on their return on investment; the aggressive nature of the conglomerators themselves was enough to make many investors, who saw a "powerful" and unstoppable force in business, buy their stock.
High stock prices allowed them to raise more loans, based on the value of their stock, thereby buy more companies. This led to a chain reaction, which allowed them to grow rapidly. However, all of this growth was somewhat illusory and when interest rates rose to offset inflation, conglomerate profits fell. Investors noticed that the companies inside the conglomerate were growing no faster than before they were purchased, whereas the rationale for buying a company was that "synergies" would provide efficiency. By the late 1960s they were shunned by the market, a major sell-off of their shares ensued. To keep the companies going, many conglomerates were forced to shed the industries they had purchased, by the mid-1970s most had been reduced to shells; the conglomerate fad was subsequently replaced by newer ideas like focusing on a company's core competency. In other cases, conglomerates are formed for genuine interests of diversification rather than manipulation of paper return on investment. Companies with this orientation would only make acquisitions or start new branches in other sectors when they believed this would increase profitability or stability by sharing risks.
Flush with cash during the 1980s, General Electric moved into financing and financial services, which in 2005 accounted for about 45% of the company's net earnings. GE owned a minority interest in NBCUniversal, which owns the NBC television network and several other cable networks. In some ways GE is the opposite of the "typical" 1960s conglomerate in that the company was not leveraged, when interest rates went up they were able to turn this to their advantage, it was less expensive to lease from GE than buy new equipment using loans. United Technologies has proven to be a successful conglomerate. With the spread of mutual funds, investors could more obtain diversification by owning a small slice of many companies in a fund rather than owning shares in a conglomerate. Another example of a successful conglomerate is Warren Buffett's Berkshire Hathaway, a holding company which used surplus capital from its insurance subsidiaries to invest in a variety of manufacturing and service businesses; the end of the First World War caused a brief economic crisis in Weimar Germany, permitting entrepreneurs to buy businesses at rock-bottom prices.
The most successful, Hugo Stinnes, established the most powerful private economic conglomerate in 1920s Europe – Stinnes Enterprises – which embraced sectors as diverse as manufacturing, shipbuilding, hotels and other enterprises. The best known British conglomerate was Hanson plc, it followed a rather different timescale than the U. S. examples mentioned above, as it was founded in 1964 and ceased to be a conglomerate when it split itself into four separate listed companies between 1995 and 1997. In Hong Kong, some of the well-known conglomerates include Jardine Matheson, Swire Group, C K Hutchison Whampoa, Sino Group, Swire Group Started by Liverpool natives the Swire family, which controls a wide range of businesses, including property, beverages and trading. Jardine Matheson operates businesses in the fields of property, trading and hotels. C K Hutchison Whampoa: finance, telecommunication, real estate, hotels Sino Group: Kerry Logistics, Universal Studios Singapore, Shangri-LaIn Japan, a different model of conglomerate, the keiretsu, evolved.
Whereas the Western model of conglomerate consists of a single corporation with multiple subsidiaries controlled by that corporation, the companies in a keiretsu are linked by interlocking shareholdings and a central role of a bank. Mitsui, Sumitomo are some of Japan's best known keiretsu, reaching from automobile manufacturing to the production of electronics such as televisions. While not a keiretsu, Sony is an example of a modern Japanese conglomerate with operations in consumer electronics, video games, the music industry and film production and distribution, financial services, telecommunications. In China, many of the country's conglomerates are state-owned enterprises, but there