Business Services Industry
Masco opens $1B line of credit;Home-products giant prepares for stock buyback, acquisitions.(Masco Corp.)(Brief Article)
Crain's Detroit Business, May, 2000 by Green, Leslie
Masco Corp. has established a $1 billion revolving credit line with eight lenders and separately announced plans to repurchase more than $900 million in common stock. Masco executives hope both moves will ready the company for acquisitions and boost earnings. ``The line of credit is for general corporate purposes, but typically they are used for acquisitions,'' said Samuel Cypert, vice president of investor relations at Taylor-based Masco (NYSE: MAS), the country's largest maker of cabinets, faucets, locks and other home-improvement products.
Cypert said part of the credit line could be used for stock repurchases or for acquisitions but its principal purpose is to maintain the company's flexibility. ``You don't wait until you need money to borrow,'' Cypert...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
Presented by the Premiere Rewards Gold Card from American Express