Citgo
Citgo became a major marketer and refiner of fuels and other products after it was established in Oklahoma in 1910. Petróleos de Venezuela, a Venezuelan oil firm, bought half of it in 1986 and became the company’s parent. The news has not been good for it recently, unfortunately. Hugo Chavez announced to the world that Citgo was being sold because it was doing “poor business” and causing its profits to plummet. Instead of making the sale, they sold bonds. The nation of South America was in a recession in 2013 when this article was written. It was given to Russia as security for its debt, but the future of that offer is in doubt.
Citgo
IBM (PC Division)
This corporation, which got its start in IBM, has always worked to keep the United States at the forefront of technological innovation. It used to be more focused on business machines than computers, back in the day. The history of IBM is, to put it mildly, interesting. Lenovo paid $1.75 billion in 2004 to acquire its PC division from Compaq Computer. At the time, Lenovo’s CEO Chuanzhi Liu said he was “happy” about the milestone because he served as the company’s creator and “founding father.” But Sam Palmisano, IBM’s CEO, said in a statement that today’s news strengthened the ability of the company to “grab the highest-value opportunities” in a quickly evolving information technology sector
IBM (PC Division)
