Kinney Parking Company is a New Jersey parking company owned by Manny Kimmel, Sigmund Dornbusch, and mobster Abner Zwillman. Before the public list in 1960 as Kinney Services , joined the funeral home company, Riverside Memorial Chapel, and later expanded into car rental, office cleaning, and construction.
Video Kinney Parking Company
Kinney National
In 1966, the company joined the National Cleaning Company to form Kinney National Company, headed by Steve Ross, who had joined Riverside after marrying Carol Rosenthal, the daughter of owner Edward Rosenthal.
Maps Kinney Parking Company
Warner Communications
Ross pursued the company's aggressive expansion of property, first acquiring the Ashley-Famous talent agency, then Panavision, and then in 1969 Warner Bros.-Seven Arts. Following a financial scandal in the parking division, the non-entertainment asset swirled again in 1972 as National Kinney Corporation, and the remaining company was named Warner Communications, the forerunner of the current kingdom of Time Warner kingdom.
Kinney National
Kinney National evolved from parking and built services into real estate development by purchasing Uris Buildings Corporation, but the timing was bad as the NY real estate market collapsed in the 1973-75 recession and the main assets of Uris Building were soon lost due to foreclosures.
In 1979, after several protracted negotiations, National Kinney sought to buy Aladdin's hotel and casino in Las Vegas in a joint venture with Johnny Carson, planning to change his name after the star. However, Carson's wife, Joanna, gossiped about the deal, and the ensuing trade in National Kinney stocks led to allegations of insider trading against third parties by the SEC and the dismissal of profits.
In 1982, National Kinney sold the National States Electric division to an undisclosed buyer, and then agreed to sell its parking subsidiary Kinney System Inc. to the division chairman Daniel Katz and a group of investors. National Kinney later changed its name to Andal Corporation and sold the rest of its majority in the Kinney System parking lot. Reliably invested in the declining Ice Cream Steve and join in Swensen before selling it and releasing its last operating subsidiary.
See also
- Kinney National Company
- National Kinney Corporation
- Warner Bros.-Seven Arts
- Warner Communications
Reading
The Formula of Luck , by William Poundstone
References
Source of the article : Wikipedia
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