Citgo
In 1910, Citgo established itself as a major marketer and refiner of fuels and other products in Oklahoma. Petróleos de Venezuela, a Venezuelan oil corporation, bought half of it in 1986 and became the parent company. Unfortunately, recent events have not been positive. Hugo Chavez announced to the world that Citgo was being sold because it was doing “poorly,” resulting in declining earnings. They offered bonds instead of selling the property. South America was in a slump in 2013, the year this article was written. It was provided to Russia as financial collateral, but the offer’s future is unknown.
Citgo
IBM (PC Division)
This firm, which began with IBM, has always endeavored to keep the United States at the forefront of technological advancement. It was once more concerned with commercial machinery than with computers. IBM’s history is, to put it mildly, intriguing. In 2004, Lenovo paid $1.75 billion for Compaq Computer’s PC division. Lenovo CEO Chuanzhi Liu said at the time that he was “delighted” with the accomplishment because he was the company’s creator and “founding father.” In a statement, IBM CEO Sam Palmisano claimed that today’s announcement strengthened the company’s ability to “grab the highest-value opportunities” in the quickly evolving information technology sector.
IBM (PC Division)
