« The greatest joke never told, Tues., Oct. 3, 2006, 5:50 PM | Main | Cara's Daily Planet, Wed., Oct. 4, 2006, 6:10 AM »
October 3, 2006
Cendant break-up, Tues., Oct. 3, 2006, 6:05 PM
Notice that today Cendant has been removed from the Cara 100. I'm open for ideas on a replacement.
Notice you still have Cendant (NYSE:CD) listed in Cara 100. It has been changed to Avis Budget Group (NYSE: CAR). --Jay
From Wikipedia:
Breakup
As of October 24, 2005, Cendant Corporation announced its decision to split into four separate companies, citing a necessity to diversify in appealing to stockholders and in an attempt to increase the value of the post-split up company. These four categories include "Real Estate, Travel Distribution, Hospitality and Vehicle Rental Companies."[3]
Cendant originally decided to spin off its Travel Distribution division as a separate company called Travelport, but on June 30, 2006, Cendant announced the sale of Travelport to an affiliate of the privately held Blackstone group for $4.3 Billion. This sale closed on August 23, 2006.
On July 31 of 2006, both the Cendant Real Estate division as well as the Cendant Hospitality division were spun-off and became separate companies under the names Realogy (NYSE: H) and Wyndham Worldwide (NYSE: WYN) , respectively. At that time the Cendant Car Rental Group, which owns the Avis and Budget brands, became the sole remaining company under the Cendant name. Immediately afterwards, the company changed it's name to Avis Budget Group (NYSE: CAR) and the Cendant name has been completely dissolved.
Posted by Posted by Bill Cara on October 3, 2006 06:05:33 PM | Category: Cara Global 100 Best Companies