Posted January 28, 200520 yr Procter & Gamble Co. announced early this morning it will buy Gillette Co. in deal valued at $57 billion. The deal is the largest acquisition in company history and makes Cincinnati-based P&G the largest consumer goods company in the world with 21 billion-dollar brands. If approved by regulators, P&G would surpass Unilever for the No. 1 spot in consumer goods. Boston-based Gillette markets a variety of consumer products, including Gillette razors and blades, Duracell CopperTop batteries, Oral-B power toothbrushes, Right Guard deodorant and Braun shavers and small appliances. The company had sales of $9.25 billion last year. P&G will issue 0.975 shares of its common stock for each share of Gillette common stock. Based on Jan. 27 closing prices, the deal represents an 18 percent premium to Gillette shareholders. P&G also said it plans to buy back $18 billion to $22 billion of its own common stock during the next 12 months to 18 months, which would result in a financial impact to the company as if the deal were structured 60 percent stock and 40 percent cash. Read full article here: http://www.cincinnati.bizjournals.com/
January 28, 200520 yr I wonder if Gillette will be moving it's HQ here? This is big for Cincinnati on the corporate level of things.
January 28, 200520 yr From the way the article reads, it sounds like Gillette will retain its presence in Boston for the time being.
January 28, 200520 yr I wonder if Gillette will be moving it's HQ here? This is big for Cincinnati on the corporate level of things. While it is nice that P&G will keep its hq here, this is not good and I quote: "P&G said it expects to cut about 6,000 jobs" These mega corporate buyouts need to stop.
January 28, 200520 yr ^But when the company grows larger than it is now, it will hire more people of course.
January 28, 200520 yr It would be nice if P&G added another Boob to the twin towers downtown. 3 boobs are better than 2 :wink2:
January 28, 200520 yr this is blockbuster good business news for p&g and ohio. i hope they close the boston gillete offices. let boston see what its like for a change when their employers pull up stakes and blow town. ohio has had waaay more of that than other states have. so i say screw'em -- make'm move to cinci or sayanora!
January 28, 200520 yr Boob?? Twin Towers?? http://urbanohio.com/SWOhio/Cincinnati/Skyline/Night15.JPG
January 28, 200520 yr I just heard on the news it could mean more office space downtown.Only time will tell now.And I just heard P&G will have more sales than the entire budget of Ohio.
January 28, 200520 yr Overall it's great for Ohio, and P&G is a great corporate citizen. The only downside of the whole deal comes on the front end with the 6,000 lost jobs.
January 28, 200520 yr this is blockbuster good business news for p&g and ohio. i hope they close the boston gillete offices. let boston see what its like for a change when their employers pull up stakes and blow town. ohio has had waaay more of that than other states have. so i say screw'em -- make'm move to cinci or sayanora! The jury is still out. And I am not so enthusiastic about this as you apprently. For one, Boston is a northern city and they too have had there share of job losses to the sun belt. If this company were based out of Atlanta, Houston, Phoenix, I might be a little more in tune with you since they have been sucking the jobs away from the midwest for years but the bottom line is that 6,000 jobs are lost so a FEW execs can buy that dream McMansion in the exurbs. And lets be real, P&G has been out sourcing for years now. They don't even own the factories in St. Bernard anymore. Smoke and mirrors as far as I am concerned. Maybe the Cincinnati cynical nature has gotten the best of me but I think this is over all bad for the country and the people on the local news are naive to think this is going to make prices drop. Combined doesn't P&G and Gillette own all the deodorant products? Am I going to spend $10 for a stick of Red Zone? [/rant]
January 28, 200520 yr well if the gillette jobs hq closes and the jobs come to cinci, or the proposed 6k loss of jobs is mostly from gillette as it should be, then i will maintain my enthusiasm. otoh i hear your scepticism and you are prob right. i thought there were laws gainst monopolies? o teddy roosevelt where are you when we need you to bust some trusts?
January 29, 200520 yr ...and in the hometown of WH Taft at that! (a friend used to speak/sing to the Shaft theme, "who's the big fat white president who broke up all the trusts?" "Taft!" "Damn straight...")
January 29, 200520 yr Combined doesn't P&G and Gillette own all the deodorant products? Am I going to spend $10 for a stick of Red Zone? There's also Colgate-Palmolive.
January 29, 200520 yr Real estate boost possible Offices and homes may be in demand By Ken Alltucker Enquirer staff writer Procter & Gamble's $57 billion acquisition of Gillette Co. could provide a much-needed jolt for downtown Cincinnati's stagnant real estate market. Even after the combined company pares about 6,000 jobs, some predict that a talented crop of Gillette managers could soon be heading for Cincinnati. That could mean an infusion of high-wage office employees. "As the acquirer, any type of management would go in P&G's favor," said Matt McCormick, of investment manager Bahl & Gaynor, downtown. "I'd say probably within 12 to 18 months you will see a movement of some of (Gillette's) brand managers to Cincinnati." Over the past four years, P&G has pared its downtown work force and office space through cutbacks and outsourcing deals. Read full article here: http://news.enquirer.com/apps/pbcs.dll/article?AID=/20050129/BIZ01/501290348/-1/biz1101
January 30, 200520 yr P&G deal boosts Queen City's image Influx of executives may drive up real estate market, spur economy By John Eckberg Enquirer staff writer Procter & Gamble Co.'s $57 billion purchase of Gillette Co. on Friday brings Greater Cincinnati a brand-new brand: Global epicenter of commerce and retailing. "The combined company (P&G-Gillette) will have a market cap of nearly $200 billion, and the headquarters is here? That is so good for the region," says John Ryan, senior vice president of Morgan Keegan financial advisers and investment bankers based in Memphis, Tenn., with offices in Covington. "It stands to be a big benefit for everybody, and that's on both sides of the river." The deal between P&G and Gillette creates the largest consumer-products company in the world. If approved by regulators, the company foresees annual sales of $63 billion and growing clout against mass-market retailers like Wal-Mart. And that may be just the beginning of a business boom in the region this year. Read full article here: http://news.enquirer.com/apps/pbcs.dll/article?AID=/20050130/BIZ01/501300344
January 30, 200520 yr aha see? its boston and gillette that are getting screwed. as it should be. for a change! good for cinci and good for ohio. i dk what to think about big business merger like that --- it cannot be good for the usa, but at least it is going ohio's way this time. ...and in the hometown of WH Taft at that! (a friend used to speak/sing to the Shaft theme, "who's the big fat white president who broke up all the trusts?" "Taft!" "Damn straight...") gee riverviewer i dk what they teach kids down there in cinci, but teddy was the noted trust-buster not taft (railroads, sherman act). taft just was a jolly yes man teddy put into power to follow his polices. taft's dithering (shades of today's governer!) is what caused teddy to form the bull moose party and run again, the result of which split the next vote and cost them all the next election. i got this stuff from the best seller edmund morris teddy roosevelt biographies the rise of... and theodores rex check them out they are a fun read.
January 31, 200520 yr aha see? its boston and gillette that are getting screwed. as it should be. for a change! good for cinci and good for ohio. i dk what to think about big business merger like that --- it cannot be good for the usa, but at least it is going ohio's way this time. Well, get used to it, I guess. SBC just announced it's going to buy out AT&T for something like $16 billion.
January 31, 200520 yr Dont think so, even thought Gillette is a fortune 500 company. Its simply a division of P&G now.
January 31, 200520 yr Well only time will tell, I just pray I am not saying I told you so in a year or too. I hope I eat my words and Cincinnati becomes one of the grand cities in the country again. Damn it, why did someone have to pinch me. I like that dream. Couple this with the potential for Federated to buy May department stores, although Federated isn't that loyal to Cincinnati.
January 31, 200520 yr gee riverviewer i dk what they teach kids down there in cinci, but teddy was the noted trust-buster not taft (railroads, sherman act). taft just was a jolly yes man teddy put into power to follow his polices. taft's dithering (shades of today's governer!) is what caused teddy to form the bull moose party and run again, the result of which split the next vote and cost them all the next election. i got this stuff from the best seller edmund morris teddy roosevelt biographies the rise of... and theodores rex check them out they are a fun read. Well, three points: 1) I'm only up to John Quincy Adams in my American Presidency series, so I'm definitely not as up to speed as I'd like to be - however... 2) WHT initiated 80 anti-trust suits during his administration, and while he didn't do the spectacular trust-busting that TR did, he certainly was no slouch. And most importantly: 3) "Roosevelt" just doesn't fit into the Shaft theme at all!
January 31, 200520 yr #3) ha good one! taft gets the shaft is the morris bios so beware! he's supposedly a buffoon. still they are great reads, esp the first one as teddy had quite an exciting life. we followed up reading those with a trip to sagamore hill on long island sound which is very very cool if you are into presidential sites and beautiful old estates (it has all that african stuff): http://www.nps.gov/sahi/
January 31, 200520 yr Taft actually broke up more trusts than Roosevelt, but Taft seems to be just remembered for getting stuck in a bathtub...
February 1, 200520 yr Taft actually broke up more trusts than Roosevelt, but Taft seems to be just remembered for getting stuck in a bathtub... It's probably the most ironic thing of all if you really think about both legacies. "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
February 1, 200520 yr I'm just waiting for the David McCullough/Edmund Morris style mega-bio on WHT...he's got to be a fascinating character - only guy ever to be both President and Chief Justice of the Supreme Court, there's gotta be a good story there...
February 2, 200520 yr Taft actually broke up more trusts than Roosevelt, but Taft seems to be just remembered for getting stuck in a bathtub... It's probably the most ironic thing of all if you really think about both legacies. That and Roosevelt publicly saying, at the time, that he thought Taft didn't go far enough (thus Teddy ran for president in 1912, spliting the Republican ticket with Taft and allowing Wilson to win that election in blowout) And to RiverViewer, my understanding is that Taft really wasn't much of a personality (not Calvin Cooledge dull, but not memerable either). Someone from Cincinnati is more likely to make a name for him/herself doing a mega-bio of Taft, than one of the established writers taking this project on.
February 2, 200520 yr ^Bingo. "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
October 1, 200519 yr P&G deal seals city's primacy By Jon Newberry | Post staff reporter Procter & Gamble Co.'s $57 billion acquisition of Boston-based Gillette Co. should provide a major boost to the region's business economy, even if the direct impact on P&G jobs and its area operations is not significant. The deal, expected to be made final today, cements Cincinnati's position as the consumer products capital of the world and will create job opportunities and other economic benefits for decades, said Nick Vehr, vice president for economic development at the Cincinnati USA Regional Chamber. The companies said the deal will close today following the Federal Trade Commission's approval. The agency is requiring the companies to sell Gillette's Rembrandt at-home teeth whitening products and Right Guard men's anti-perspirant and deodorant business. Financially, approval of the deal by federal regulators finally propelled P&G's share price past its previous split-adjusted peak of $59.19 that it hit more than five years ago. P&G shares closed Friday at a new all-time split-adjusted high of $59.46, up $1.32 on the day. Read full article here: http://news.cincypost.com/apps/pbcs.dll/article?AID=/20051001/NEWS01/510010358
December 4, 200519 yr P&G sends relocation packets to Gillette workers Lisa Biank Fasig Staff Reporter Procter & Gamble Co., as part of its integration with Boston's Gillette Co., is sending relocation information to hundreds of employees of the razor maker, but does not expect to pull a "significant" number of relocations. Raymond Buse III, spokesman for the Greater Cincinnati Chamber of Commerce, said Procter requested around 300 of the relocation packages, which include information about Cincinnati's culture and housing, to prospective residents. He said the chamber also provided a few dozen T-shirts with the region's new slogan, "Cincinnati USA: All together surprising." But Procter spokeswoman Linda Ulrey said that while the consumer products maker is in the process of making offers to people at Gillette, "Overall we're not expecting a significant number of relocations." "You put together a whole lot more packages of information than you get people who choose to relocate," she explained about the hundreds of packets requested. "But there's not a number we can provide at this time." Read full article here: http://business.bostonherald.com/businessNews/view.bg?articleid=1149
December 4, 200519 yr The Boston perspective, from the 12/1/05 Boston Herald. It's got the typical East Coast "better-than-you" stamp all over it.: Gillette staff riding Tide to Cincinnati By Brett Arends Thursday, December 1, 2005 - Updated: 12:15 PM EST So they’re moving you to Cincinnati. I know you may be disappointed that you’re among the Gillette Co. staff who has to relocate to Procter & Gamble’s hometown. Rest assured your old CEO appreciates your sacrifice. You’re uprooting your life and your family, and moving 1,000 miles away to a city full of strangers. Jim Kilts understands just how traumatic and painful this will be. Why do you think he isn’t going? Don’t see this as exile to the interior. See it as a challenge and an opportunity. “This isn’t your father’s Cincinnati,” insists Raymond Buse III, the spokesman for the city’s chamber of commerce. You know a brand has an image problem when they use that line. Look what happened to Oldsmobile. Read full article here: http://business.bostonherald.com/businessNews/view.bg?articleid=114944&format= Gillette workers saying hi to Ohio By Jay Fitzgerald Tuesday, November 29, 2005 - Updated: 02:36 AM EST Cincinnati home and relocation experts have a message for Gillette’s Boston workers: C’mon down! The houses are affordable and plentiful. “We’ve had three bites already,” said Steve DeStefano, head of DeStefano Custom Homes, referring to Bostonians answering his advertisements here for luxury relocation homes in Cincinnati. An unknown number of Gillette workers are expected to move to the southern Ohio city after Gillette’s purchase last month by Procter & Gamble. Final layoff and relocation details have not been released yet by P&G. A spokesman for P&G said the number of Bostonians moving to Cincinnati sometime next year is “not expected to be significant.” Read full article here: http://business.bostonherald.com/realestateNews/view.bg?articleid=114592&format=
December 4, 200519 yr Gillette staff riding Tide to Cincinnati By Brett Arends Thursday, December 1, 2005 - Updated: 12:15 PM EST Those mother f@$!ers!
December 4, 200519 yr Jim Kilts understands just how traumatic and painful this will be. Yeah, it's tough to leave your home and a city like Boston. But come on, to call it "traumatic"?
December 4, 200519 yr The upscale neighborhoods of Covington and Newport are just across the river from your new offices. WTF really where??
December 5, 200519 yr We should blast his inbox with a little "Cincinnati Hospitality"... It seriously pissed me off reading that article.
January 31, 200619 yr If you are the average liberal moving from Massachusetts, a bastion of liberalism, to Ohio, you'd be worried too... I mean, take a look at Ken Blackwell and tell me you wouldn't be traumatized! The nutcase actually get tration here! :drunk:
December 6, 200618 yr P&G to launch car wash chain BY JESSICA BROWN | ENQUIRER STAFF WRITER December 6, 2006 Procter & Gamble is branching out into the service sector by launching a chain of high-end car washes. The car washes will be “different from every other car wash” in Greater Cincinnati, said Mike Foster, P&G product supply director. Calling it a landmark project, the company plans to build its first Mr. Clean Performance Car Wash in Deerfield Township at the busy intersection of Mason Montgomery and Socialville Fosters roads. The $3.3 million project will “be the equivalent to what Starbucks has done for coffee and Panera has done for sandwiches,” said Foster. Read full article here: http://news.enquirer.com/apps/pbcs.dll/article?AID=/20061206/NEWS01/312060008
December 7, 200618 yr oh thanks -- now i can't get this out of my head - lol! Ooh ooh You might not ever get rich But let me tell ya it's better than diggin' a ditch There ain't no tellin' who you might meet A movie star or maybe even an Indian chief (Workin') At the car wash Workin' at the car wash, girl Come on and sing it with me (Car wash) Sing it with the feelin' ya'all (Car wash, girl) Ooh! Some of the work gets kinda hard This ain't no place to be if you planned on bein' a star Let me tell you it's always cool And the boss don't mind sometimes if you act the fool At the car wash Whoa whoa whoa whoa Talkin' about the car wash, girl Come on, ya'all and sing it for me (Car wash) Oooh oooh oooh (Car wash, girl) (Work and work) Well, those cars never seem to stop coming (Work and work) Keep those rags and machines humming (Work and work) My fingers to the bone (Work) Can't wait till it's time to go home (Hey, get your car washed today) Fill up and you don't have to pay Come on and give us a play (Do the wash, right away) (The car wash) Talkin' 'bout the car wash Car wash, girl Come on, ya'all, let's sing it with me (Car wash) Sing it with feelin', ya'all (Car wash, girl) Whoa whoa whoa whoa (Car wash) Never seem to stop comin' What'd I say Keep those rags and machines hummin' (Car wash) Let me tell you, it's always cool . . .
December 7, 200618 yr I'm actually finishing up a really good book on the history of P&G, Rising Tide, and especially after reading that, I don't think I could have imagined P&G going into the service sector. If anything at all, I would have assumed they would have just licensed the brand name to someone else in the car wash industry.
December 7, 200618 yr People will always need to wash their cars! (Isnt that P&G's motto) That is, at least, until little microbots move the dirt off the car for you.
December 7, 200618 yr ^or that is until everyone rides mass transit :wink: We sure could have used some mass transit this morning..
January 10, 200718 yr P&G pumps $50M into Gillette HQ BY CLIFF PEALE | [email protected] January 10, 2007 Procter & Gamble Co. will invest up to $50 million in Gillette’s World Shaving headquarters in South Boston and will consolidate its shaving operations there in 2009, moving out of its headquarters in the Back Bay Prudential building, P&G said today. The company also will fold the shaving operation into its beauty care and health care unit, reducing it to two global business units run by two of its vice chairs, effective July 1. Vice chairwoman Susan Arnold heads beauty and health, now including the shaving business, and the Braun unit. Vice chairman Bruce Byrnes heads household care, which will now include the Duracell battery business. The third vice chairman is Bob McDonald, who heads global operations. The locations of those units will not change. Read full article here: http://news.enquirer.com/apps/pbcs.dll/article?AID=/20070110/BIZ01/301100013/1076/BIZ
March 20, 200718 yr P&G wins US case on Satanic slurs The Devil is not in league with global consumer brand Procter & Gamble, a US court has ruled. P&G won a $19m (£9.7m) lawsuit against four distributors of rival Amway over rumours tying it to Satanism. The court concluded a 12-year lawsuit in P&G's favour, after it ruled that the four had spread a false accusation that P&G subsidised Satanic cults. The case is one of several unfair competition suits P&G has brought refuting the Satanism slurs. Read full article here: http://news.bbc.co.uk/2/hi/business/6471373.stm
June 8, 200718 yr P&G to move about 150 jobs to this region Will close former Clairol base in Connecticut BY CLIFF PEALE | ENQUIRER STAFF WRITER Procter & Gamble Co. will close the former Clairol headquarters in Stamford, Conn., by 2010, a move that will eliminate about 615 jobs there and transfer about 150 of those to Greater Cincinnati. P&G told workers in Stamford about the move Thursday morning. P&G bought Clairol in mid-2001 for $4.95 billion, adding hair color to its stable of shampoo and styling brands. It immediately scaled back some of the operations there, but a plant remained making products including Nice 'n Easy, Herbal Essences Color and Natural Instincts. Read full article here: http://news.enquirer.com/apps/pbcs.dll/article?AID=/20070608/BIZ01/706080346/1076/BIZ
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