At worst, however, it could behave as a bureaucratic parasite, propping up weaker operators at the expense of stronger ones, and restricting capital-raising by stronger subsidiaries in order to maintain its own equity control.
But AIG retains a strong Southern California presence with subsidiaries SunAmerica Inc. of Los Angeles, which sells retirement annuities, and International Lease Finance Corp. of Century City, which leases aircraft.
Havas, Vivendi's publishing subsidiary, is strong in education and entertainment, and can provide the words.
The more inclined the courts are to pierce the corporate veil in cases involving groups and their subsidiaries, the stronger enterprise liability is.
Hornby benefited from strong growth in its European subsidiaries and was boosted by a positive contribution from the Airfix/Humbrol business, which it acquired last year.
First, the relation between Japan and its subsidiaries is relatively strong.
The company's results came a day after Indonesia's overseas phone company, Indonesia Satellite, reported a lower profit but strong growth at its cellular subsidiary, Satelit Palapa Indonesia.
The strong valuation of Home Depot's subsidiary is a reflection of what Wolseleys own American divisions could fetch.
The Mike Adenuga Group, of which Globacom is a subsidiary, has had strong commercial ties with France and French businesses for many years.
The redeeming features of G.M.'s latest financial results were strong results, announced yesterday, by its General Motors Acceptance Corporation finance subsidiary, GM Hughes Electronics subsidiary and Electronic Data Systems Corporation unit.
