155:
in
February 1973, accused of stealing $ 224 million from IOS investments. He sought to maintain control over his 26 percent share of the company, but facing multiple indictments for securities fraud, he never returned to the United States, dying in
185:
to acquire the company. Under
Goldberg, ICC acquired the trucking firm Transway International Corp. A company bought in the acquisition, Great Dane Trailers Inc., became ICC's sole remaining subsidiary after further holdings were sold off in 1988.
205:. The stamping plant was sold off in 1996. In 1997, ICC was privatized by Capital Resource Advisors, a Chicago investment firm, leaving Checker Motors Company as a stand-alone private company. Checker Motors declared bankruptcy in 2009.
168:
In the wake of Vesco's flight, ICC was left in massive debt and facing several lawsuits. The company was placed under court supervision and was suspended from trading stock. In April 1973, the court-appointed board of directors selected
180:
To reduce its debt, the company sold off many of its subsidiaries, leaving behind Datron
Systems and American Industries among its major holdings. Financier Arthur M. Goldberg launched a takeover bid in 1985, forming a corporation with
97:, and made a tender offer for the Electronic Specialty Company, a large manufacturer of aeronautical and electromechanical components. After a series of lawsuits, the acquisition of Electronic Specialty was completed in July 1969.
86:), ICC Manufacturing (formerly Lowden Machine Co.), The Special Corporation (a precision manufacturer of electronic components), Silber Products, and the Moeller Tool Corporation.
201:, leaving ICC in control of two subsidiaries, Checker Motors and Great Dane Trailers. Later that year, ICC bought South Charleston Stamping and Manufacturing Co. of
455:
445:
56:
450:
299:
113:. According to later federal investigations, Vesco transferred money from IOS's mutual funds into various ICC-controlled offshore enterprises. The
114:
72:
141:
406:
347:
262:
235:
71:
devices founded in 1959. Vesco merged ICC with
Cryogenics and reorganized ICC as a public corporation in Florida, thus skirting
145:
63:, and placed its assets and liabilities into the newly formed company. He then acquired Cryogenics Inc., a nearly defunct
194:
106:
24:
279:
27:
and Great Dane
Trailers. It had previously been forced to liquidate many of its holdings after charges of massive
208:
ICC was renamed Great Dane
Holdings Inc. in 1996. All company assets were acquired by CRA Holdings Inc. in 1997.
202:
93:
in May 1968. Later that year, it acquired the
Intercontinental Manufacturing Company, a weapons manufacturer in
177:
vice admiral, as president and chief executive officer, with Elmer A. Sticco named chief operating officer.
90:
82:. By the end of 1967, ICC owned Fairfield Aviation (which operated Caldwell-Wright Airport, later renamed
83:
367:
170:
198:
388:
372:
352:
325:
320:
304:
284:
174:
136:, along with ICC president Lawrence Richardson, to deliver a cash contribution of $ 200,000 to
411:
258:
231:
144:. The secret payment, made shortly after the enactment of financial disclosure laws under the
130:
110:
78:
Vesco initiated an aggressive expansion of ICC, borrowing heavily to acquire new holdings via
190:
126:
122:
79:
28:
20:
133:
94:
407:"The end of the line: Bankruptcy, sale will close Checker Motors Corp. after 87 years"
439:
137:
118:
23:
incorporated in 1965. Before being taken private in 1997, its subsidiaries included
182:
157:
44:
32:
252:
225:
152:
60:
117:(SEC) launched an inquiry into Vesco's dealings in March 1971. Vesco wanted
68:
52:
151:
With criminal charges pending from the SEC investigation, Vesco fled to
426:
64:
48:
55:. Vesco had secured control of Captive Seal, a valve manufacturer in
148:, was revealed in a pretrial deposition in February 1973.
300:"Figure in S.E.C. Inquiry Gave $ 200,000 to Nixon"
31:against the company's founder, fugitive financier
321:"A Last Vanishing Act for Robert Vesco, Fugitive"
129:, and in April 1972 he sent his counsel, former
319:Lacey, Marc; Kandell, Jonathan (2008-05-03).
125:to intercede on his behalf with SEC chairman
8:
393:International Directory of Company Histories
109:(IOS), a mutual fund investment firm run by
105:In 1970, Vesco began a takeover bid for
216:
456:Holding companies of the United States
446:Holding companies established in 1965
7:
389:"International Controls Corporation"
142:Committee to Re-elect the President
451:Defunct companies based in Florida
115:Securities and Exchange Commission
47:(1935–2007), an entrepreneur from
17:International Controls Corporation
14:
348:"R.J. Reynolds Appoints Chairman"
189:In 1989, Goldberg engineered the
280:"Booby Trap In Mergers Recalled"
43:ICC was incorporated in 1965 by
346:Sloane, Leonard (1973-04-26).
89:ICC's stock was listed on the
1:
146:Federal Election Campaign Act
140:, finance chairman for the
472:
278:Smith, Gene (1969-12-14).
195:Checker Motors Corporation
107:Investors Overseas Service
25:Checker Motors Corporation
203:Charleston, West Virginia
131:New Jersey State Senator
429:. SEC Info. 1997-01-17.
387:Gopnik, Hilary (2006).
251:Herzog, Arthur (1987).
224:Block, Alan A. (1998).
91:American Stock Exchange
67:-based manufacturer of
19:(ICC) was an American
173:, a recently retired
75:filing requirements.
121:'s Attorney General
84:Essex County Airport
368:"Bear, Stearns Bid"
227:Masters of Paradise
199:Kalamazoo, Michigan
427:"CRA Holdings Inc"
373:The New York Times
353:The New York Times
326:The New York Times
305:The New York Times
285:The New York Times
175:United States Navy
412:Kalamazoo Gazette
111:Bernard Cornfield
101:SEC investigation
80:hostile takeovers
463:
431:
430:
423:
417:
416:
403:
397:
396:
384:
378:
377:
364:
358:
357:
343:
337:
336:
334:
333:
316:
310:
309:
296:
290:
289:
275:
269:
268:
248:
242:
241:
221:
191:reverse takeover
127:William J. Casey
123:John N. Mitchell
29:securities fraud
471:
470:
466:
465:
464:
462:
461:
460:
436:
435:
434:
425:
424:
420:
405:
404:
400:
386:
385:
381:
366:
365:
361:
345:
344:
340:
331:
329:
318:
317:
313:
298:
297:
293:
277:
276:
272:
265:
250:
249:
245:
238:
230:. p. 138.
223:
222:
218:
214:
166:
103:
41:
21:holding company
12:
11:
5:
469:
467:
459:
458:
453:
448:
438:
437:
433:
432:
418:
398:
379:
359:
338:
311:
291:
270:
263:
243:
236:
215:
213:
210:
171:Allen M. Shinn
165:
162:
134:Harry L. Sears
102:
99:
95:Garland, Texas
40:
37:
13:
10:
9:
6:
4:
3:
2:
468:
457:
454:
452:
449:
447:
444:
443:
441:
428:
422:
419:
415:. 2009-06-29.
414:
413:
408:
402:
399:
394:
390:
383:
380:
376:. 1985-05-29.
375:
374:
369:
363:
360:
355:
354:
349:
342:
339:
328:
327:
322:
315:
312:
308:. 1973-02-28.
307:
306:
301:
295:
292:
287:
286:
281:
274:
271:
266:
264:0-595-27209-6
260:
256:
255:
247:
244:
239:
237:1-56000-971-3
233:
229:
228:
220:
217:
211:
209:
206:
204:
200:
196:
192:
187:
184:
178:
176:
172:
164:Later history
163:
161:
159:
154:
149:
147:
143:
139:
138:Maurice Stans
135:
132:
128:
124:
120:
119:Richard Nixon
116:
112:
108:
100:
98:
96:
92:
87:
85:
81:
76:
74:
70:
66:
62:
58:
54:
50:
46:
39:Early history
38:
36:
34:
30:
26:
22:
18:
421:
410:
401:
392:
382:
371:
362:
351:
341:
330:. Retrieved
324:
314:
303:
294:
283:
273:
253:
246:
226:
219:
207:
188:
183:Bear Stearns
179:
167:
158:Havana, Cuba
150:
104:
88:
77:
45:Robert Vesco
42:
33:Robert Vesco
16:
15:
440:Categories
332:2010-05-05
212:References
153:Costa Rica
61:New Jersey
160:in 2007.
69:cryogenic
57:Fairfield
53:Michigan
395:. Gale.
65:Florida
49:Detroit
261:
234:
254:Vesco
259:ISBN
232:ISBN
197:of
193:of
73:SEC
442::
409:.
391:.
370:.
350:.
323:.
302:.
282:.
257:.
59:,
51:,
35:.
356:.
335:.
288:.
267:.
240:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.