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Caterair
Caterair was the name of a Texas-based investment, Caterair International, Inc., of the private equity firm Carlyle Group. It provided airline meal, in-flight meals for passengers on large commuter aircraft. It is famous for its association with George W. Bush, who was a member of its board of directors between 1990 and 1994, and even served on its audit committee. He quit the Board to run for the position of Texas governor, months before the firm declared bankruptcy. Carlyle acquired the business from Marriott Corp. which sold its In-Flite Services catering business to Marriott’s upper management. Carlyle took a 50% stake, committing $93.8 million. The business was renamed Caterair. The investment was funded primarily by a massive issuance of junk bond financing, as was the trend at that time. With the global economy spiralling into recession during the early 1990s, the airline business faltered, and with it did Caterair. It eventually defaulted on its debt obligations d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Texas
Texas (, ; Spanish language, Spanish: ''Texas'', ''Tejas'') is a state in the South Central United States, South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2020, it is the second-largest U.S. state by both List of U.S. states and territories by area, area (after Alaska) and List of U.S. states and territories by population, population (after California). Texas shares borders with the states of Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the west, and the Mexico, Mexican States of Mexico, states of Chihuahua (state), Chihuahua, Coahuila, Nuevo León, and Tamaulipas to the south and southwest; and has a coastline with the Gulf of Mexico to the southeast. Houston is the List of cities in Texas by population, most populous city in Texas and the List of United States cities by population, fourth-largest in the U.S., while San Antonio is the second most pop ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Equity
In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a type of ownership of assets ( financial equity) and is a class of assets (debt securities and equity securities), which function as modes of financial management for operating private companies that are not publicly traded in a stock exchange. Private-equity capital is invested into a target company either by an investment management company (private equity firm), or by a venture capital fund, or by an angel investor; each category of investor has specific financial goals, management preferences, and investment strategies for profiting from their investments. Each category of investor provides working capital to the target company to finance the expansion of the company with the development of new products and services, the restructuring ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carlyle Group
The Carlyle Group is a multinational private equity, alternative asset management and financial services corporation based in the United States with $376 billion of assets under management. It specializes in private equity, real assets, and private credit. It is one of the largest mega-funds in the world. In 2015, Carlyle was the world's largest private equity firm by capital raised over the previous five years, according to the PEI 300 index, though by 2020, it had slipped into second place. Founded in 1987 in Washington, D.C., by William E. Conway Jr., Stephen L. Norris, David Rubenstein, Daniel A. D'Aniello and Greg Rosenbaum, the company has nearly 1,850 employees in 26 offices on six continents . On May 3, 2012, Carlyle completed a million initial public offering and began trading on the NASDAQ stock exchange. History Founding and early history Carlyle was founded in 1987 as an investment banking boutique by five partners with backgrounds in finance and government: ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Airline Meal
An airline meal, airline food, or in-flight meal is a meal served to passengers on board a commercial airliner. These meals are prepared by specialist airline catering services and normally served to passengers using an airline service trolley. These meals vary widely in quality and quantity across different airline companies and travel class, classes of travel. They range from a simple snack or beverage in short-haul economy class to a seven-course gourmet meal in a First class (aviation), first class long-haul flight. The types of food offered also vary widely from country to country, and often incorporate elements of local cuisine, sometimes both from the origin and destination countries. When ticket prices were Airline deregulation, regulated in the American domestic market, food was the primary means by which airlines differentiated themselves. History The first airline meals were served by Handley Page Transport, an airline company founded in 1919, to serve the London–P ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George W
George Walker Bush (born July 6, 1946) is an American politician who served as the 43rd president of the United States from 2001 to 2009. A member of the Republican Party, Bush family, and son of the 41st president George H. W. Bush, he previously served as the 46th governor of Texas from 1995 to 2000. While in his twenties, Bush flew warplanes in the Texas Air National Guard. After graduating from Harvard Business School in 1975, he worked in the oil industry. In 1978, Bush unsuccessfully ran for the House of Representatives. He later co-owned the Texas Rangers of Major League Baseball before he was elected governor of Texas in 1994. As governor, Bush successfully sponsored legislation for tort reform, increased education funding, set higher standards for schools, and reformed the criminal justice system. He also helped make Texas the leading producer of wind powered electricity in the nation. In the 2000 presidential election, Bush defeated Democratic incum ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marriott Corp
Marriott may refer to: People *Marriott (surname) Corporations * Marriott Corporation, founded as Hot Shoppes, Inc. in 1927; split into Marriott International and Host Marriott Corporation in 1993 * Marriott International, international hotel company ** Marriott Hotels & Resorts, flagship brand of Marriott International ** Marriott Vacations Worldwide Corporation, a timeshare company, formerly a division of Marriott International * Host Marriott Corporation, lodging real estate investment trust, now known as Host Hotels & Resorts ** HMSHost, operator of airport concession services, spun off from Host Marriott Corporation Places * Marriott, Saskatchewan, Canada * Rural Municipality of Marriott No. 317, Saskatchewan * Marriott, Utah Other uses * ''Marriott'' (album) See also * Mariotte (other) Mariotte may refer to: People * Antoine Mariotte (1875–1944), French composer * Edme Mariotte (c. 1620–1684), French physicist and priest * Jeff Mariotte (born 1955), A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Junk Bond
In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit events, but offer higher yields than investment-grade bonds in order to compensate for the increased risk. Default risk As indicated by their lower credit ratings, high-yield debt entails more risk to the investor compared to investment grade bonds. Investors require a greater yield to compensate them for investing in the riskier securities. In the case of high-yield bonds, the risk is largely that of default: the possibility that the issuer will be unable to make scheduled interest and principal payments in a timely manner. The default rate in the high-yield sector of the U.S. bond market has averaged about 5% over the long term. During the liquidity crisis of 1989-90, the default rate was in the 5.6% to 7% range. During the pandemic of 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canada
Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by total area. Its southern and western border with the United States, stretching , is the world's longest binational land border. Canada's capital is Ottawa, and its three largest metropolitan areas are Toronto, Montreal, and Vancouver. Indigenous peoples have continuously inhabited what is now Canada for thousands of years. Beginning in the 16th century, British and French expeditions explored and later settled along the Atlantic coast. As a consequence of various armed conflicts, France ceded nearly all of its colonies in North America in 1763. In 1867, with the union of three British North American colonies through Confederation, Canada was formed as a federal dominion of four provinces. This began an accretion of provinces an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Onex Corporation
Onex Corporation is an investment manager founded in 1984. The firm manages capital on behalf of Onex shareholders, institutional investors and high net worth clients around the world. As of September 30, 2022, Onex had approximately US$47.2 billion of assets under management. History Founder Gerry Schwartz had previously worked at Bear Stearns in New York City during the 1970s, under investor Jerome Kohlberg Jr., who later became a founding partner of Kohlberg Kravis Roberts. Schwartz returned to Canada, where he started working with Izzy Asper. Schwartz founded Onex in 1984 and took the company public in 1987. The firm focused on private equity investing in North America using capital from its balance sheet for the first 16 years of its history. In 2000, it started raising investment vehicles with third-party capital with the launch of ONCAP, which focuses on smaller and middle market opportunities. In 2003, the first Onex Partners fund was raised. Today, the majority of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Republican Party (United States)
The Republican Party, also referred to as the GOP ("Grand Old Party"), is one of the two major contemporary political parties in the United States. The GOP was founded in 1854 by anti-slavery activists who opposed the Kansas–Nebraska Act, which allowed for the potential expansion of chattel slavery into the western territories. Since Ronald Reagan's presidency in the 1980s, conservatism has been the dominant ideology of the GOP. It has been the main political rival of the Democratic Party since the mid-1850s. The Republican Party's intellectual predecessor is considered to be Northern members of the Whig Party, with Republican presidents Abraham Lincoln, Rutherford B. Hayes, Chester A. Arthur, and Benjamin Harrison all being Whigs before switching to the party, from which they were elected. The collapse of the Whigs, which had previously been one of the two major parties in the country, strengthened the party's electoral success. Upon its founding, it supported c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid digital subscribers. It also is a producer of popular podcasts such as '' The Daily''. Founded in 1851 by Henry Jarvis Raymond and George Jones, it was initially published by Raymond, Jones & Company. The ''Times'' has won 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national " newspaper of record". For print it is ranked 18th in the world by circulation and 3rd in the U.S. The paper is owned by the New York Times Company, which is publicly traded. It has been governed by the Sulzberger family since 1896, through a dual-class share structure after its shares became publicly traded. A. G. Sulzberger, the paper's publisher and the company's chairman, is the fifth generation of the family to head the pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Airline Catering
An airline meal, airline food, or in-flight meal is a meal served to passengers on board a commercial airliner. These meals are prepared by specialist airline catering services and normally served to passengers using an airline service trolley. These meals vary widely in quality and quantity across different airline companies and classes of travel. They range from a simple snack or beverage in short-haul economy class to a seven-course gourmet meal in a first class long-haul flight. The types of food offered also vary widely from country to country, and often incorporate elements of local cuisine, sometimes both from the origin and destination countries. When ticket prices were regulated in the American domestic market, food was the primary means by which airlines differentiated themselves. History The first airline meals were served by Handley Page Transport, an airline company founded in 1919, to serve the London–Paris route in October of that year. Passengers could choos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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