Turns out its GE capital Div. is now larger then its lightbulb or Loco Buisness or apllince…Could a railroad just get out of railroads? sure look at Penn Central!
They are now a Insurance Underwritting company with alleged holdings in Amtrak…known as American Preamier Underwriters…Warren Buffets Berkshire Hathaway was a Textile Mill…laid off the workers closed the mill and is now a investment co…Chase manhatten was a Water Co for New York…Now a bank!
And the point is???
GM will probably end up being a discount housing distrubutor after it finally lays off all of it’s north american employees and GMAC ends up forclosing on all their mortgages.
GM btw, made more money last year through GMAC than from it’s core manufacturing business.
GMAC also owns that annoying little man from ditech dot com
You could turn your boxcar into a bank. Hobo National Bank & Trust Co. With assets stuffed in mattresses across 48 states!
GE is one of the largest diefersifed Companies in the world.
Open a new account and get a free tin foil hat!
I don’t believe Chase manhatten actually ever sold any water, or at least very little.
From what I understand it was their sole intention to become a bank in the first place, but they could only get the business licences if they said they were a water company.
I think I heard that somewhere, I might be wrong.
From what I’ve heard, banks were illegal in Wisconsin in the early years, so money was handled by insurance companies! Don’t know how true that is, I wasn’t around then, but considering how many big insurance companies make their home in the midwest…
If you really look around, you’ll find that many companies that started out as railroads ended up as something else. For example, Katy Industries is still around despite the railroad having merged into Missouri Pacific in 1988. “Milwaukee Road” still owned the Milwaukee depot until recently, though the railroad disappeared into Soo Line in 1986 and the company is now known as CMC Heartland. I believe the Rock Island is survived by Maytag. Is North Western Industries still around? What about IC’s former parent company?
Isn’t there still a Penn Central real-estate company? But I think that GE is better managed than GM has been. GM clearly tried to buck the trend to compact cars in the 1949-1954 era and has been bucking the trend to more fuel-efficient cars since 2001. GE seems genuinely intersted in its locomotive business and in the heavy electrical equipment it manufactures. So I think those parts of its business will be around for a long long time.
A couple things I found, by searching “chase manhattan water” on Yahoo:
The Janus brokerage house, or mutual fund company or whatever it is, grew out of an effort by Kansas City Southern to diversify. I don’t think Janus is still owned/controlled by KCS.
IIRC, IC Industries renamed itself Whitman Industries after the candy maker it owned.
And the point is . . . . . . . even a blind squirrel finds a nut every now and then. [;)] [:o)] [:D]
[(-D][(-D][(-D][(-D]
Northwest Industries was broken up after it sold C&NW to its employees. The closest thing to a surviving firm is Fruit of the Loom Corp.
After the corporate shell of Rock Island sold off the railroad, enough cash was generated to pay off the creditors and the bankruptcy was lifted without a reorganization. The company changed its name to Chicago Pacific Corp. and purchased Hoover, of vacuum cleaner fame. This was its only purchase prior to its being absorbed by Maytag.