Chicago Pacific Corporation
Encyclopedia
The Chicago Pacific Corporation was a shell corporation created from the remains of the Chicago, Rock Island and Pacific Railroad
. It managed to use much of the capital made from the liquidation of the Rock Island to acquire non-rail ventures such as The Hoover Company
, Pennsylvania House/Kittinger, Inc., and Rowenta A.G.. In 1988, the now profitable company was acquired by the Maytag
Corporation.
Chicago, Rock Island and Pacific Railroad
The Chicago, Rock Island and Pacific Railroad was a Class I railroad in the United States. It was also known as the Rock Island Line, or, in its final years, The Rock.-Incorporation:...
. It managed to use much of the capital made from the liquidation of the Rock Island to acquire non-rail ventures such as The Hoover Company
The Hoover Company
The Hoover Company started out as an American floor care manufacturer based in North Canton, Ohio. It also established a major base in the United Kingdom and for most of the early-and-mid-20th century, it dominated the electric vacuum cleaner industry, to the point where the "hoover" brand name...
, Pennsylvania House/Kittinger, Inc., and Rowenta A.G.. In 1988, the now profitable company was acquired by the Maytag
Maytag
Maytag Corporation is an American home and commercial appliance company, headquartered in Newton, Iowa, that is a division of the Whirlpool Corporation.-Company history:...
Corporation.