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How is a trust different from a corporation?
A corporation is a lage company which has shareholders, a president or CEO, and an appointed board of directors. The process for becoming a corporation involves an Initial Public Offering (IPO) on a stock exchange.A trust is an arrangement between corporations which forms one governing entity, which may fix prices, create anti-cross-hiring rules, or engage in other monopolistic practices amongst the companies involved.
When did the government sell its ownership in Conrail?
In 1987 the federal government sold its controlling interest in Conrail in a $1.9 billion initial public stock offering (IPO), the largest such IPO up to that time.
When was the IPO of General Electric?
General Electric (GE) went public on April 15, 1892. The company's initial public offering marked its entry into the stock market, where it became one of the most prominent and diversified industrial companies in the world. Over the years, GE has undergone significant transformations and expansions, solidifying its presence across various sectors.
The History of GMAC Bank?
The firm now known as Ally Financial has an interesting backstory. Originally established as the General Motors Acceptance Corporation (GMAC) by General Motors Corporation in 1919, GMAC primarily provided financing to GMs automotive clientele. Over time, the company has grown to include insurance, online banking, mortgages, as well as commercial finance.Early HistoryIn the young days of motor vehicle manufacturing, automobile dealers paid cash to purchase their inventory. This arrangement allowed them to purchase only a few vehicles at a time. With the advent of the assembly line, car manufacturers needed dealers to purchase inventory in larger quantities, in order to maintain smoothly-running factories. GMAC was established in 1919 as a solution to this problem. The new entity provided General Motors dealers the financing they needed to maintain the desired level of inventory, while offering retail clients the ability to buy new cars simply with greater convenience.In 1958, GMAC financed its 40 millionth vehicle and posted annual earnings of $1 billion for the first time ever. GMAC also entered the mortgage finance arena at this time. GMAC formed GMAC Mortgage following acquisition of the loan operations of Colonial Mortgage Service and the servicing component of the former Norwest Mortgage, Inc. GMAC subsequently acquired additional mortgage-related businesses, including ditech.com.Later YearsBy 2001, GMAC was celebrating organizational milestones such as providing more than $1 trillion of financing for 150 million cars and trucks worldwide since its inception. In that same year the company reported $1.8 billion in record setting earnings. Due to various factors including a housing market downturn and a stock market crash, by 2005 General Motors informed shareholders it was earnestly considering selling a majority share in GMAC, its profit-generating Goliath. In 2005 the companys mortgage division is reorganized into Residential Capital (ResCap). By this time, GMAC is heavily exposed to a subprime mortgage portfolio. The following year, GM sold a 51% stake in GMAC to a group of investors, led by Cerberus Capital Management. General Motors retained 49% of the company it had established 82 years prior.As many U.S. companies (especially financial firms) continued to experience challenges during the worldwide economic calamity, so GMAC continued to struggle. Between 2008 and 2009, the U.S. Treasury Department assisted GMAC by providing capital investments totaling $12.5 billion. These funds, provided via the Troubled Asset Relief Program (TARP), gave the U.S. government a majority stake in GMAC (GMAC's banking unit officially changed its name to Ally Bank in 2009.). On May 10, 2010, GMAC Inc. re-branded itself as Ally Financial Inc. On March 31, 2011, Ally Financial filed with the Securities Exchange Commission for an initial public offering (IPO).
Was there a real John Stroud at the Alamo in 1836?
There is no historical record of a John Stroud being present at the Battle of the Alamo in 1836. The names of the known defenders of the Alamo are well-documented, and John Stroud is not among them. It is possible that there may have been individuals present whose names were not recorded, but there is no verifiable evidence to support the existence of a John Stroud at the Alamo during that time.
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General Cable Corporation (BGC)had its IPO in 1997.
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Seaspan Corporation (SSWN)had its IPO in 2014.
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ChannelAdvisor Corporation (ECOM )had its IPO in 2013.
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Intrexon Corporation (XON)had its IPO in 2013.
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Qwest Corporation (CTY)had its IPO in 2013.
In what year did Sprint Corporation - S - have its IPO?
Sprint Corporation (S)had its IPO in 2013.
In what year did Taminco Corporation - TAM - have its IPO?
Taminco Corporation (TAM)had its IPO in 2013.
In what year did Textura Corporation - TXTR - have its IPO?
Textura Corporation (TXTR)had its IPO in 2013.
