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L - Loews

Loews (NYSE:L) was founded when Robert and Laurence Tisch acquired a significant stake in the Loews chain from MGM in 1959, and the next year they became majority owners and controlled the company. The two named themselves co-chairman of the company at that time.

Now Loews Corporation is a diversified holding company, operating diverse businesses such as CNA Financial Corporation (90 percent owned), Diamond Offshore Drilling, Inc. (50.4 percent owned), HighMount Exploration & Production LLC (100 percent owned), Boardwalk Pipeline Partners, LP (72 percent owned) and Loews Hotels (100 percent owned).

Loews has been doing a lot of tweaking of its holding over the last several years, for the most part divesting of companies they feel don't have much of a future, including tobacco and watch businesses.

They look poised to continue on strongly after dipping in the recession. Probably about 60 percent of their holdings, including energy and hotels are directly affected by consumer behavior during that time.

The Tisch family continues to have key positions filled by family members.

The company is headquartered in New York, New York.