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The planned merger of Random House owned by Bertelsmann, and Penguin owned by Pearson, creates the largest consumer book publisher in the world with a 25% market share. Bertelsmann will control 53% of the new entity, and Pearson 47%. The merger will help the new entity better handle the challenges presented by the shift to electronic books and internet retailing, and respond to the power of large companes such as Apple, Amazon and Google in this field. This creates pressure for mergers among the other large publishers, Hatchette owned by Lagardere in France, HarperCollins a part of News Corporation, Macmillan part of Georg von Holtzbrinck in Germany, and Simon & Schuster a part of CBS.
The planned merger of Random House owned by Bertelsmann, and Penguin owned by Pearson, creates the largest consumer book publisher in the world with a 25% market share. Bertelsmann will control 53% of the new entity, and Pearson 47%. The merger will help the new entity better handle the challenges presented by the shift to electronic books and internet retailing, and respond to the power of large companes such as Apple, Amazon and Google in this field. This creates pressure for mergers among the other large publishers, Hatchette owned by Lagardere in France, HarperCollins a part of News Corporation, Macmillan part of Georg von Holtzbrinck in Germany, and Simon & Schuster a part of CBS.
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GM will pay Prudential Insurance $29 billion upfront to take over $26 billion in pension obligations for its salaried retirees. Pension buyouts will cost about $3 billion. GM said on May 31, 2012 that it will turn over the responsibilities for all assets and obligations of its salaried retiree pension program and management of the obligations to Prudential Financial Inc. This will be done by purchasing of a group annuity contract. GM says retiree payments will be kept the same. About 42,000 of the 118,000 salaried retirees will be given the option of a one time payment. Ford has made a similiar plan. GM has $134 billion in global pension obligations, with a $25 billion shortfall, which affects its debt ratings and draws investor concern. This is one step in addressing this problem. GM plans to do the same for the pension obligations of union retirees which is about twice the size of the salaried workers plan.
GM will pay Prudential Insurance $29 billion upfront to take over $26 billion in pension obligations for its salaried retirees. Pension buyouts will cost about $3 billion. GM said on May 31, 2012 that it will turn over the responsibilities for all assets and obligations of its salaried retiree pension program and management of the obligations to Prudential Financial Inc. This will be done by purchasing of a group annuity contract. GM says retiree payments will be kept the same. About 42,000 of the 118,000 salaried retirees will be given the option of a one time payment. Ford has made a similiar plan. GM has $134 billion in global pension obligations, with a $25 billion shortfall, which affects its debt ratings and draws investor concern. This is one step in addressing this problem. GM plans to do the same for the pension obligations of union retirees which is about twice the size of the salaried workers plan.
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Anupreeta Das looks at the groundwork being done at Berkshire Holdings to prepare for a future without Mr. Buffett. Investors are concerned about Berkshire's prospects after Buffett, because of his large imprint on the firm's strategy and operations.
Anupreeta Das looks at the groundwork being done at Berkshire Holdings to prepare for a future without Mr. Buffett. Investors are concerned about Berkshire's prospects after Buffett, because of his large imprint on the firm's strategy and operations.
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A conversation with Ratan Tata at Tata's Colaba offices just as Tata prepares for the acquisition of Land Rover and Jaguar.
A conversation with Ratan Tata at Tata's Colaba offices just as Tata prepares for the acquisition of Land Rover and Jaguar.
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