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Burlington Industries
Burlington Industries, formerly Burlington Mills, is a diversified American fabric maker based in Greensboro, North Carolina. Founded by J. Spencer Love in Burlington, North Carolina in 1923, the company has operations in the United States, Mexico, and India and a global manufacturing and product development network based in Hong Kong with over 8000 employees on several sites in the United States, Canada and worldwide. The company entered Chapter 11 bankruptcy protection in December 2001. Its assets were acquired by International Textile Group (ITG) out of bankruptcy in late 2003. Its carpet division was sold to Mohawk Industries and its headquarters were vacated in 2004. ITG retained Burlington as a brand and eventually became Elevate Textiles. History In 1923 J. Spencer Love founded a textile corporation in Burlington, North Carolina. Love and his father brought $50,000 worth in machinery from a factory they had sold in Gastonia to Burlington, and also invested $200,000 th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Burlington, North Carolina
Burlington is a city in Alamance County, North Carolina, Alamance and Guilford County, North Carolina, Guilford counties in the U.S. state of North Carolina. It is the principal city of the Burlington, North Carolina Metropolitan Statistical Area, which encompasses all of Alamance County, in which most of the city is located, and is a part of the Piedmont Triad, Greensboro-Winston-Salem-High Point CSA. The population was 57, 303 at the 2020 United States census, 2020 census, which makes Burlington the List of municipalities in North Carolina, 18th largest city in North Carolina. History Alamance County was created when Orange County, North Carolina, Orange County was partitioned in 1849. Early settlers included several groups of Quakers, many of which remain active in the Snow Camp, North Carolina, Snow Camp area, German farmers, and Scotch-Irish Americans, Scots-Irish immigrants. The need of the North Carolina Railroad in the 1850s to locate land where they could build, repair ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War II
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposing military alliances: the Allies and the Axis powers. World War II was a total war that directly involved more than 100 million personnel from more than 30 countries. The major participants in the war threw their entire economic, industrial, and scientific capabilities behind the war effort, blurring the distinction between civilian and military resources. Aircraft played a major role in the conflict, enabling the strategic bombing of population centres and deploying the only two nuclear weapons ever used in war. World War II was by far the deadliest conflict in human history; it resulted in 70 to 85 million fatalities, mostly among civilians. Tens of millions died due to genocides (including the Holocaust), starvation, ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
North Carolina State University Reactor Program
North Carolina State University in 1950 founded the first university-based reactor program and Nuclear Engineering curriculum in the United States. The program continues in the early 21st century. That year, NC State College administrators approved construction of a reactor and the establishment of a collegiate nuclear engineering program. The first research reactor was completed in 1953; it was scaled up in 1957 and 1960 (referred to as R-1, R-2, and R-3). It was deactivated in 1973 to make way for the PULSTAR reactor. The old reactor has been decommissioned. The PULSTAR is used for a variety of purposes, including training and research. The reactor is located in Burlington Engineering Laboratories on NCSU's main campus. This facility was built to house the first reactor and then expanded and renamed when the PULSTAR was built. The current reactor is one of two PULSTAR reactors built, and the only one still in operation. The other reactor was a 2 MW reactor at the State Unive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Platinum Equity
Platinum Equity, LLC is an American private equity investment firm founded by Tom Gores in 1995. The firm focuses on leveraged buyout investments of established companies in the U.S., Europe and Asia. History Platinum Equity was founded in 1995 by Tom Gores. The firm's first acquisition was LSI, a company that generated computer graphics to re-create accidents for courtroom testimony. After purchasing it for $200,000, Platinum Equity focused on servicing existing customers and returning the company to profitability.Steven Bertoni (October 19, 2009)Ready to Play.''Forbes'' Magazine. Over the next five years, between July 1996 and September 2001, the firm made 32 acquisitions with $226 million, and realized $940 million on those investments. These acquisitions included a call center (Foresight Software), networking gear (Racal Electronics), and voice and data service (Williams Communications). BusinessWeek ranked the firm number 10 on its 1999 list of the country’s top 2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand
A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create and store value as brand equity for the object identified, to the benefit of the brand's customers, its owners and shareholders. Brand names are sometimes distinguished from Generic brand, generic or store brands. The practice of branding - in the original literal sense of marking by burning - is thought to have begun with the ancient Egyptians, who are known to have engaged in livestock branding as early as 2,700 BCE. Branding was used to differentiate one person's cattle from another's by means of a distinctive symbol burned into the animal's skin with a hot branding iron. If a person stole any of the cattle, anyone else who saw the symbol could deduce the actual owner. The term has been extended to mean a strategic personality for a produ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Building Implosion
In the controlled demolition industry, building implosion is the strategic placing of explosive material and timing of its detonation so that a structure collapses on itself in a matter of seconds, minimizing the physical damage to its immediate surroundings. Despite its terminology, building implosion also includes the controlled demolition of other structures, such as bridges, smokestacks, towers, and tunnels. Building implosion, which reduces to seconds a process which could take months or years to achieve by other methods, typically occurs in urban areas and often involves large landmark structures. The actual use of the term "implosion" to refer to the destruction of a building is a misnomer. This had been stated of the destruction of 1515 Tower in West Palm Beach, Florida. "What happens is, you use explosive materials in critical structural connections to allow gravity to bring it down." Terminology The term ''building implosion'' can be misleading to laymen: Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cone Mills Corporation
Cone Mills Corporation was a twentieth-century manufacturer of cotton fabrics that included corduroy, flannel, and denim. The company headquartered in Greensboro, North Carolina and had its factory mills in parts of North and South Carolina. The company has its roots in a family-operated Baltimore grocery business that was managed mostly by Moses H. Cone and his brother Caesar. Cone Mills acquired several mills in the Southern United States that produced various fabrics. The companies they accumulated turned into a corporation; in its prime, it was the world's largest maker of denim fabric. Cone family members associated with Moses and Caesar became wealthy because of the corporation. The company was involved with civil and community projects and sponsored programs that required clothing, such as the Miss North Carolina Pageant. Cone Mills built five self-sufficient villages to serve its Greensboro factory workers. The villages, featuring boarding houses and single-family h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wilbur Ross
Wilbur Louis Ross Jr. (born November 28, 1937) is an American businessman who served as the 39th United States Secretary of Commerce from 2017 to 2021. A member of the Republican Party, Ross was previously chairman and chief executive officer (CEO) of WL Ross & Co from 2000 to 2017. Before founding WL Ross & Co, Ross ran the bankruptcy restructuring practice at N M Rothschild & Sons in New York beginning in the late 1970s. In April 2000, Ross left Rothschild to found WL Ross & Co. Ross was a banker known for acquiring and restructuring failed companies in industries such as steel, coal, telecommunications, and textiles, later selling them for a profit after operations improved, a record that had earned him the moniker "King of Bankruptcy". Ross has been chairman or lead director of more than 100 companies operating in more than 20 countries. Named by Bloomberg Markets as one of the 50 most influential people in global finance, Ross was previously an adviser to New York City ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
WL Ross & Co
WL Ross & Co is a private equity company founded and based in New York by Wilbur Ross in April 2000. The company focuses on investments in financially distressed companies with undervalued stocks, in the $100 to $200 million range, usually in the United States, Asia, Korea, Ireland, Japan, France and China. By acquiring majority stake in their investments through purchases and/or buyouts, WL Ross & Co. LLC then have the option of restructuring, turnarounds, mergers, reorganizations and industry consolidation. Starting in 2002, WL Ross began acquired the assets of bankrupt steel companies such as LTV Steel Corp, Bethlehem Steel, Weirton Steel, Acme Steel, Georgetown Steel, Youngstown Sheet and Tube, and Republican Steel. By 2003 Ross had established relationships with the United Steelworkers, promising to save jobs. WL Ross founded the company International Steel Group (ISG) by combining bankrupt LTV Corp., Acme Steel and Bethlehem Steel, which quickly became the largest integrate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankrupt is not the only legal status that an insolvent person may have, and the term ''bankruptcy'' is therefore not a synonym for insolvency. Etymology The word ''bankruptcy'' is derived from Italian ''banca rotta'', literally meaning "broken bank". The term is often described as having originated in renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment so that the public could see that the banker, the owner of the bench, was no longer in a condition to continue his business, although some dismiss this as a false etymology. History In Ancient Greece, bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chapter 11, Title 11, United States Code
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. In contrast, Chapter 7 governs the process of a liquidation bankruptcy, though liquidation may also occur under Chapter 11; while Chapter 13 provides a reorganization process for the majority of private individuals. Chapter 11 overview When a business is unable to service its debt or pay its creditors, the business or its creditors can file with a federal bankruptcy court for protection under either Chapter 7 or Chapter 11. In Chapter 7, the business ceases operations, a trustee sells all of its assets, and then distributes the proceeds to its creditors. Any residual amount is returned to the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hostile Takeover
In business, a takeover is the purchase of one company (the ''target'') by another (the ''acquirer'' or ''bidder''). In the UK, the term refers to the acquisition of a public company whose shares are listed on a stock exchange, in contrast to the acquisition of a private company. Management of the target company may or may not agree with a proposed takeover, and this has resulted in the following takeover classifications: friendly, hostile, reverse or back-flip. Financing a takeover often involves loans or bond issues which may include junk bonds as well as a simple cash offers. It can also include shares in the new company. Types Friendly A ''friendly takeover'' is an acquisition which is approved by the management of the target company. Before a bidder makes an offer for another company, it usually first informs the company's board of directors. In an ideal world, if the board feels that accepting the offer serves the shareholders better than rejecting it, it recom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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