Investor group buys AIG

Article Abstract:

AIG Designs will be purchased by an investor group, which is comprised of five AIG managers and former Sears official John Solimine, from American International Group for an undisclosed amount. AIG President and CEO Billy Pate is assuming the same positions at the new firm called International Furniture Designs (IFD). In 1997, furniture importer AIG posted sales of over $85 million. IFD will continue the business of importation, assembly and distribution of home office, casual dining, home entertainment and occasional furniture. IFD's international offices are located in Italy, Hong Kong, Denmark and Singapore.

Comment:

Will be purchased by a management-led buyout group from American Intnl Group for an undisclosed amount

Asset sales & divestitures, AIG Designs Inc.

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GERS adds three execs

Article Abstract:

GERS Retail Systems has hired three information technology officers for its marketing and sales management team. The company has named Don Vander Beke as executive vice president of marketing and support services. It has also named Onagh Ash, who used to work with SAP America, to become executive vice president of sales and services. To serve as vice president of sales is Jerry Blanford of Richter Systems. Vander Beke will be in charge of the company's marketing efforts, customer support programs and strategic business alliances, while Ash will be responsible for the company's sales management team.

Comment:

Has hired three information technology officers for its marketing and sales management team

Management development, GERS Inc.

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Hyundai moving to California

Article Abstract:

Hyundai Furniture has shutdown its High Point, North Carolina headquarters and distribution facilities. The company is transferring all of its businesses to a distribution area located near Los Angeles, California.

Organizational history, California, Furniture, Hyundai Furniture

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