Loews Corporation
Headquarters:
667 Madison Ave.
New York, NY 10021
Employees: 18,100
CEO: James Tisch
Website: http://www.loews.com
Stock Symbol:
L
Career
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Loews Corporation (not to be confused with the home improvement stores) is a holding company for a diverse range of businesses from insurance to hotels and oil drilling.
The company's owns three publicly-traded subsidiaries:
CNA Financial Corporation (90 percent owned) is one of the largest commercial property-casualty insurance companies in the United States. (NYSE: CNA)
Diamond Offshore Drilling, Inc. (50.4 percent owned) is one of the world's largest offshore drilling companies, offering comprehensive drilling services to the energy industry around the world. The company owns and operates 45 offshore drilling rigs. (NYSE: DO)
Boardwalk Pipeline Partners, LP (66 percent owned) is engaged in the operation of interstate natural gas pipeline systems. (NYSE: BWP)
The company also operates Loews Hotels, (100 percent owned) which is one of the country's top luxury lodging companies with 23 hotels and resorts in the United States and Canada.
Loews announced it will purchase the Mandarin Oriental Hotel in San Francisco by the end of March 2015.
The company reported net income in 2014 of $591 million.
Loews sold its HighMount Exploration unit for $800 million in 2014.
History
Loews Corporation grew out of the lifelong partnership of two brothers: Laurence (“Larry” – father of James and Andrew) and Preston Robert (“Bob” – father of Jonathan) Tisch. Beginning in 1946 with a single hotel in Lakewood, New Jersey, Larry and Bob Tisch built a thriving hotel chain. In 1959, they purchased a controlling interest in Loew’s Theatres, Inc., a nationwide chain of 102 movie theaters, which formed the foundation of modern-day Loews (Loews sold the theater business in 1985).
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