Trans World Airlines spins off

Over the years, Trans World Airlines, the fifth largest domestic carrier, has become a conglomerate that includes profitable hotel, restaurant and real estate operations. In 1978. TWA set up Trans World Corp. (1982 revenues: $5.1 billion) as a holding company for the airline and other subsidiaries, which now include Hilton International (90 hotels overseas plus three Vista International hotels in the U.S.), Spartan Food Systems (423 restaurants in Quincy's Family Steak House and Hardee's chains). Canteen (one of the nation's largest vending and direct-food-service businesses) and Century 21...

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