General Motors has gone to considerable effort to revamp Cadillac, trying to transform it from a dowdy-but-proud brand for senior citizens into a full-line maker of luxury sedans, sports cars, S.U.V.'s and pickups.
Companies that can't create new markets or steal business from competitors, she says, will be valued more like an old-line maker of washing machines.
In September 1996, Wyser-Pratte took a 7% stake in the old-line maker of office furniture and hand tools, when it was trading at about FFr400 ($66) a share.
Stronach beat out Dana and Borg-Warner Automotive by paying $276 million to buy Steyr-Daimler-Puch Steyr-Daimler-Puch Steyr-Daimler-Puch Group from Bank Austria AG.
Stronach beat out Dana Corp. and Borg- Warner Automotive by paying $276 million in cash to buy 67% of Steyr- Daimler-Puch Group, an old-line maker of parts and cars, from Bank Austria AG.
He ran eighth in the Derby in his first-ever U.S. start, has been given 10-1 odds by the morning-line maker, is trained by highly respected international conditioner Mike De Kock and is the only horse in the field, other than American Pharoah, who has earned more than $1 million.
"I'm considering breaking out the line-maker again to create some tourist lanes out here," he says.
The line-makers do, and they make profits every season.
Others, such as the oil company, land developer, telecoms operator, shipping line, semiconductor maker and hotel firm, have disappointed.
I'm told it's German and means something along the line of "maker of cheese" though I can't really be sure.
