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45-676: The White armored car was a series of armored cars developed by the White Motor Company in Cleveland, Ohio from 1915. The White Motor Company continued after the First World War to develop armored cars including the M1 Scout Car , M3 Scout Car , M2 Half Track Car , M3 Half-track , M13 Multiple Gun Motor Carriage , and M16 Multiple Gun Motor Carriage . White Motor Company The White Motor Company

90-454: A Locomobile steam car and found its boiler unreliable. His son, Rollin , set out to improve its design. Rollin White developed a form of water tube steam generator which consisted of a series of stacked coils with two novel features: the first was the coils were all joined at the top of the unit, which allowed water to flow only when pumped, allowing control of the steam generation; the second

135-673: A fuel line sprayed him at the same time a spark ignited. White companies' manufacturing facility expanded. The White steamer used unique technology, and it was vulnerable in a market that was accepting the internal combustion engine as the standard. White canvassed existing gas manufacturers and licensed the rights to the Delahaye design for the "gas car", showing a chassis at an English auto show in December 1908. Rollin became more interested in agricultural tractors, and developed designs for tractors derived from standard White truck parts. When

180-618: A hostile takeover. After acquiring IU International, Neoax sold the conglomerate's trucking and food distribution units, only keeping the waste management division. In 1989, Neoax changed its name to EnviroSource, and in 1998, to Envirosource. Volvo produced trucks as White and Autocar through the 1980s, while Western Star continued independently in Canada and the United States, although Volvo-White–produced high cab over engine models were purchased and rebadged Western Star for sale in

225-527: A parent company material influence if they are the largest individual shareholder or if they are placed in control of the running of the operation by non-operational shareholders.) In the United Kingdom, the term holding company is defined by the Companies Act 2006 at section 1159. It defines a holding company as a company that holds a majority of the voting rights in another company, or

270-628: A private operator uses two of the White 706 buses originally built for Yellowstone for Gettysburg National Battlefield tours. One ex-Mount Rainier White 706 is on display at the Longmire Historic District . The bus driven by Egg Shen in the film Big Trouble in Little China into Chinatown, San Francisco is a White 706 which was later purchased by the Skagway Street Car Company. It was one of

315-499: Is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own stock of other companies to form a corporate group . In some jurisdictions around the world, holding companies are called parent companies , which, besides holding stock in other companies, can conduct trade and other business activities themselves. Holding companies reduce risk for

360-643: Is a member of another company and has the right to appoint or remove a majority of its board of directors, or is a member of another company and controls alone, pursuant to an agreement with other members, a majority of the voting rights in that company. After the financial crisis of 2007–2008 , many U.S. investment banks converted to holding companies. According to the Federal Financial Institutions Examination Council 's website, JPMorgan Chase , Bank of America , Citigroup , Wells Fargo , and Goldman Sachs were

405-478: Is defined by Part 1, Section 5, Subsection 1 of the Companies Act, which states: 5.—(1) For the purposes of this Act, a corporation shall, subject to subsection (3), be deemed to be a subsidiary of another corporation, if — In the United Kingdom, is generally held that an organisation holding a 'controlling stake' in a company (a holding of over 51% of the stock) is in effect the de facto parent company of

450-677: The M3 Scout Car , the standard United States Army reconnaissance vehicle at the start of World War II. White also built the later M2 , M3 , M13 and M16 half-tracks . In 1967, White started the Western Star division to sell trucks on the west coast. The White Model 706 chassis emerged as the winner of a four-way competition with Ford , REO and GMC , held by the National Park Service in 1935 at Yosemite National Park . Starting in 1936, White produced 500 of

495-682: The Secret Service to use the car behind his horse-drawn carriage. In 1909, president William Howard Taft converted the White House stables into a garage and purchased four automobiles: two Pierce-Arrows , a Baker Electric , and a 1911 White. This $ 4,000 car was one of the last steam cars produced and proved a favorite of the President who used bursts of steam against "pesky" press photographers . The 40 hp (30 kW) White Model M 7-seat tourer generated favorable press for

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540-539: The White Sewing Machine Company , to allow the use of a corner in one of his buildings to build an automobile. White's brother, Windsor, who was a management talent , joined the business venture, followed by their brother, Walter, who became instrumental in the sales, promotion and distribution of the product. The first group of fifty cars were completed in October 1900, but none were offered to

585-481: The broadcast licenses to reflect this, resulting in stations that are (for example) still licensed to Jacor and Citicasters , effectively making them such as subsidiary companies of their owner iHeartMedia . This is sometimes done on a per- market basis. For example, in Atlanta both WNNX and later WWWQ are licensed to "WNNX LiCo, Inc." (LiCo meaning "license company"), both owned by Susquehanna Radio (which

630-442: The shareholders , and can permit the ownership and control of a number of different companies. The New York Times uses the term parent holding company . Holding companies can be subsidiaries in a tiered structure . Holding companies are also created to hold assets such as intellectual property or trade secrets , that are protected from the operating company. That creates a smaller risk when it comes to litigation . In

675-834: The 1960s, many buses were sold to private collectors and tour operators. The Skagway Street Car Company assembled a fleet of eight buses starting in 1987, naming each bus for the location from which they were acquired. Today, Glacier National Park operates 33 of its original 35 buses, where they are referred to as " Red Jammers ", and eight (of an original 98) have been restored for renewed service in Yellowstone National Park . Glacier's 33 buses were refurbished by Ford and TransGlobal in 2000–2002, while Yellowstone's eight buses were refurbished by TransGlobal in 2007. Glacier has kept one bus in original condition. Yellowstone has five White buses in original condition, two model 706s and three older units as well. In addition,

720-568: The Autocar nameplate following its acquisition. Diamond T and REO Motor Car Company became the Diamond REO division, which was discontinued in the 1970s. A White Semi performed a role in the 1949 James Cagney film White Heat . This era was probably the peak of White Motor market penetration, with the substantial gasoline engined tractors moving a large part of the tractor trailer fleet. White designed and (with other companies) produced

765-827: The Canadian assets, including the Kelowna , British Columbia, plant, and the Western Star nameplate and product range. In 1983, White emerged from bankruptcy reorganization under the name Northeast Ohio Axle Inc. (which would later be changed to Neoax in May 1986). In March 1987, Neoax bought the Fairfield Manufacturing Company (a maker of custom gears), and in March 1988, it acquired IU International Corporation (a Philadelphia-based conglomerate) through

810-469: The Canadian market through the early 1990s. In 1988, Volvo and General Motors merged their heavy truck divisions in North America, creating Volvo GM Heavy Truck Corporation and a new brand of trucks, White-GMC. Western Star was sold to Australian entrepreneur Terry Peabody in 1990. In 1997, Volvo purchased the stake of General Motors in their joint venture and rebadged White-GMC vehicles under

855-707: The Model 706, specifically designed to carry passengers through seven of the major National Parks of the western US; bus tours were offered as most tourists arrived from trains before World War II. The distinctive vehicles, with roll-back canvas convertible tops, were the product of noted industrial designer Alexis de Sakhnoffsky and used bodies from the Bender Body Company of Cleveland. They originally operated in seven National Parks: Glacier , Grand Canyon , Mount Rainier , Rocky Mountain , Yellowstone , Yosemite , and Zion . After being retired from service in

900-1101: The U.S. aerospace defense ring, such as the Texas Towers . During the Vietnam Era , the company retained its position within the Top 100 Defense Contractors list (it ranked 87th in the Fiscal Year 1965, 77th in 1967, 73rd in 1968, 89th in 1969 ). Its production facilities, such as the Lansing Truck Plant in Lansing, Michigan , and the main plant in Cleveland were engaged in production, inspection, engineering services and maintenance of thousands of military/utility cargo trucks M39 , M44 , M600, and M602 series trucks, as well as spare parts , such as cylinder heads , diesel and gasoline engines with accessories . Around 1898, Thomas H. White purchased

945-446: The United States, 80% of stock, in voting and value, must be owned before tax consolidation benefits such as tax-free dividends can be claimed. That is, if Company A owns 80% or more of the stock of Company B, Company A will not pay taxes on dividends paid by Company B to its stockholders, as the payment of dividends from B to A is essentially transferring cash within a single enterprise. Any other shareholders of Company B will pay

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990-540: The Volvo and Autocar nameplates. Subsequently, Western Star was resold by Peabody to DaimlerChrysler and merged with its Freightliner subsidiary. Volvo dropped any reference to White or General Motors and adopted the Volvo Trucks North America name. Autocar remained a part of Volvo until 2000, when the brand was withdrawn from the market, and was subsequently sold to Grand Vehicle Works together with

1035-612: The White Company was not interested in producing tractors, Rollin set out to develop his own designs and, with brother Clarence, eventually founded Cleveland Motor Plow , which later became Cletrac tractor . Cletrac was later purchased by Oliver Tractor Co , which in of itself was bought by White in 1960. the early 1920s, Rollin briefly produced the Rollin car to diversify the tractor company, but found it could not compete in cost versus price against much larger manufacturers. White

1080-523: The Xpeditor low cab-over heavy duty product, which remains in production under the Autocar badge, the last vestige of what was once America's leading commercial vehicle producer. A former White subsidiary, White Farm Equipment , produced farm tractors until 2001. As of 2006, the only products made under the White name are a series of corn planters (made by AGCO ) and lawn tractors (made by MTD Products ). Holding company A holding company

1125-681: The better known Stanley . In 2019 Mitch Gross and Chris Rolph drove a 1910 model MM 40 hp White steam car from Beijing to Paris, likely the only time such a feat has been done by a steam car. The journey of over 8000 miles crossed 12 countries, 7 time zones and included the first crossing of a major desert (the Gobi) by a steam car. The White steam car reentered popular culture in 2023 when comedian and classic car collector Jay Leno , while repairing his 1907 White steam car in his garage in Burbank , suffered third-degree burns on his face and hands when

1170-480: The business and to physically separate them, as a fire in one could ruin both operations. On 4 July 1905, a racing steam car named "Whistling Billy" and driven by Webb Jay set a record of 73.75 mph (118.69 km/h) on the Morris Park Racecourse . A 1907 White Steamer was one of the early vehicles in the White House when Theodore Roosevelt , the 26th President of the United States, allowed

1215-478: The company becoming known as the "Big Four" through to the mid-1970s. The Sterling nameplate, unused by White as long as the company owned it, went to Freightliner after the companies' split. It was then used by Daimler Trucks, who manufactured the former Ford heavy truck line under the Sterling name, from 1997 to 2008. Sales dropped during the 1960s, and White tried merging with White Consolidated Industries ,

1260-661: The eight sold to Xanterra in 2001; they were subsequently restored by TransGlobal for tours in Yellowstone. The character "Ol Jammer" from the Disney animated film Planes: Fire and Rescue is based on the White 706. In addition to the National Parks touring buses, White built similar buses with fixed roofs for intercity service. White entered the transit bus market in 1937 with the 700 series, available in 30-and-35-foot (9.1 and 10.7 m) lengths. The longer model

1305-431: The firm, having overriding material influence over the held company's operations, even if no formal full takeover has been enacted. Once a full takeover or purchase is enacted, the held company is seen to have ceased to operate as an independent entity but to have become a tending subsidiary of the purchasing company, which, in turn, becomes the parent company of the subsidiary. (A holding below 50% could be sufficient to give

1350-458: The first body) is a subsidiary of another body corporate if, and only if: Toronto-based lawyer Michael Finley has stated, "The emerging trend that has seen international plaintiffs permitted to proceed with claims against Canadian parent companies for the allegedly wrongful activity of their foreign subsidiaries means that the corporate veil is no longer a silver bullet to the heart of a plaintiff's case." The parent subsidiary company relationship

1395-605: The five largest bank holding companies in the finance sector, as of December 2013 , based on total assets. The Public Utility Holding Company Act of 1935 caused many energy companies to divest their subsidiary businesses. Between 1938 and 1958 the number of holding companies declined from 216 to 18. An energy law passed in 2005 removed the 1935 requirements, and has led to mergers and holding company formation among power marketing and power brokering companies. In US broadcasting , many major media conglomerates have purchased smaller broadcasters outright, but have not changed

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1440-455: The following requirements are met: A parent company is a company that owns enough voting power in another firm (or subsidiary ) to control management and operations by influencing or electing its board of directors . The definition of a parent company differs from jurisdiction to jurisdiction, with the definition normally being defined by way of laws dealing with companies in that jurisdiction. When an existing company establishes

1485-738: The military with much of its equipment. White ranked 54th among US corporations in the value of World War II military production contracts. When husbands went to serve, wives took their jobs, and the work force totaled over 4000. Black provided the services the company had at one time, and helped employees get to work with carpools . Black retired in 1956, still beloved by employees. In 1953, White purchased Pittsburgh, Pennsylvania -based Autocar Company . From 1951 until 1977, White Motors also distributed Freightliner Trucks . This took place under an agreement with Freightliner's parent, Consolidated Freightways . White manufactured trucks under its own brands—White, Autocar, and Western Star—as well, leading to

1530-586: The newly formed White Motor Company. Taft's White Model M is currently housed in the collection at the Heritage Museums and Gardens in Sandwich, Massachusetts. The last steam car was built in January 1911 as the company made a transition to gasoline-powered vehicles. The company continued to show them in their catalogues as late as 1912. About 10,000 White steam-powered cars were built, more than

1575-571: The original company that once made sewing machines, however the federal government blocked this deal. The company opened plants in Virginia and Utah , since they did not have unions, but this did not help. Semon Knudsen , former president of Ford , made the company successful for a time, but the decline continued. Later, the federal government approved a merger with White Consolidated, which feared being hurt by White Motor's troubles. Mergers with Daimler and Renault were also considered. Production

1620-403: The public until April 1901 so the design could be thoroughly tested. Since the cars were being offered by the automobile department of the sewing machine company, White could not afford to diminish the reputation of the parent company by the introduction of an untested product. In 1905, it became necessary to separate the automobile department from its parent company to accommodate the growth of

1665-499: The usual taxes on dividends, as they are legitimate and ordinary dividends to these shareholders. Sometimes, a company intended to be a pure holding company identifies itself as such by adding "Holding" or "Holdings" to its name. The parent company–subsidiary company relationship is defined by Part 1.2, Division 6, Section 46 of the Corporations Act 2001 (Cth) , which states: A body corporate (in this section called

1710-415: The workers who were striking, and he even got baseball equipment for them and let them play while on strike, so they would have something to do. Black learned people's names, visited the plant frequently, and asked customers if they were happy with what they purchased. Anyone could visit his office. Black brought the company back to where it had once been by World War II , during which the company supplied

1755-714: Was an American automobile , truck, bus and agricultural tractor manufacturer from 1900 until 1980. The company also produced bicycles, roller skates , automatic lathes , and sewing machines . Before World War II , the company was based in Cleveland, Ohio . White Diesel Engine Division in Springfield, Ohio , manufactured diesel engine generators , which powered U.S. military equipment and infrastructure, namely Army Nike and Air Force Bomarc launch complexes , and other guided missile installations and proving grounds, sections of SAGE and DEW Line stations, radars, Combat Direction Centers and other ground facilities of

1800-422: Was fatally injured in a traffic accident, management changed and so did the firm's culture. Employees started one of the country's first automobile unions . The Great Depression caused a drop in sales, forcing White to merge with Studebaker . However, White soon became independent again. In 1935, Robert Fager Black became president, but workers were still unhappy, and they went on strike . Black negotiated with

1845-474: Was later sold to Cumulus Media ). In determining caps to prevent excessive concentration of media ownership , all of these are attributed to the parent company, as are leased stations , as a matter of broadcast regulation . In the United States, a personal holding company is defined in section 542 of the Internal Revenue Code . A corporation is a personal holding company if both of

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1890-454: Was produced through 1953, with an update in 1948 as the 1100 series. During the time brothers Walter and Windsor White ran the company, it offered a library branch, a store which sold necessities at low cost, sports teams, and concerts by orchestras and jazz bands, as well as musical performances by the workers, many of whom were immigrants from Slovenia and Poland . The company also had picnics at Euclid Beach Park . After Walter White

1935-464: Was pulling steam from the lowest coil, closest to the fire, which allowed control of steam temperature. This second point was critical because the White steamer operated with superheated steam to take advantage of steam's properties at higher temperatures. Rollin White patented his steam generator, US patent 659,837 of 1900. Rollin H. White patented his new design and offered it to, among others, Locomobile. Finally, he persuaded his father, founder of

1980-686: Was somewhat limited as White did not have a lighter range (13,330 units built in 1978), leading to several attempts at linking up with various European manufacturers. By 1980, White was insolvent, filing Chapter 11 bankruptcy case 80-13361 in the Northern District of Ohio on September 4 of that year. Volvo acquired most of the US assets of the company in 1981, while two energy-related companies based in Calgary , Alberta, Bow Valley Resource Services , and NovaCorp , an Alberta corporation, purchased

2025-736: Was successful with their heavy machines, which saw service around the world during World War I . White remained in the truck industry for decades. White Motor Company ended car production after World War I to focus exclusively on trucks. The company soon sold 10 percent of all trucks made in the US. Although White produced all sizes of trucks from light delivery to semi , the decision was made after WWII to produce only large trucks. White acquired several truck manufacturing companies during this time: Sterling (in 1951), Autocar (in 1953), REO (in 1957) and Diamond T (in 1958). White also agreed to sell Consolidated Freightways , Freightliner Trucks through its own dealers. White produced trucks under

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