Citgo
Citgo became a huge marketer and refiner for fuels ever since it was founded in Oklahoma back in 1910. In 1986, a Venezuelan company called Petróleos de Venezuela bought half of the company and eventually became Citgo’s parent company. Things have not been going well however has Citgo’s President, Hugo Chavez, told the world that he wanted to let go of Citgo as it is a “bad business” that resulted in falling profits. In 2013, the South American nation was going through an economic depression, resulted in Citgo being offered as debt collateral to Russia.
Citgo
IBM (PC Division)
Ever since the company was founded, IBM has helped the United States to stay on top when it comes to technology. During those days, they were more involved with business machines than computers. In 2004, Lenovo bought IBM’s PC division for $1.75 billion. According to Chuanzhi Liu, Lenovo’s CEO at the time, “As Lenovo’s founder, I am excited by this breakthrough in Lenovo’s journey towards becoming an international company.” While IBM’s CEO Sam Palmisano shared his thoughts by saying “Today’s announcement further strengthens IBM’s ability to capture the highest-value opportunities in a rapidly changing information technology industry.”
IBM (PC Division)
