Citgo
Founded in Oklahoma back in 1910, Citgo became a huge marketer and refiner of fuels and the like. In 1986, a Venezuelan company called Petróleos de Venezuela bought half of it and turned into its parent company. Sadly, things have not been going all that well for it. President Hugo Chavez let the world know that he wanted to let go of Citgo, saying that it was “bad business” that resulted in falling profits. The sale did not happen as they sold bonds instead. In 2013, the South American nation was going through an economic depression. It was offered as debt collateral to Russia, but the future is uncertain.
Citgo
IBM (PC Division)
Ever since it was founded in IBM, this company has helped the United States stay on top when it comes to tech. In those days, it was more involved in business machines more than computers. IBM has a truly fascinating past, to say the least. In 2004, Lenovo bought its PC division for $1.75 billion. “As Lenovo’s founder, I am excited by this breakthrough in Lenovo’s journey towards becoming an international company,” shared Chuanzhi Liu, who was the CEO of Lenovo back then. On the other hand, IBM 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)
