Editing Control Data Corporation (section)

=== Commercial Credit Corporation ===
In 1968, Commercial Credit Corporation was the target of a hostile takeover by [[Loews Corporation|Loews Inc.]]<ref>{{cite web
|url=http://archives.chicagotribune.com/1968/06/18/page/55/article/acquisition-offer-still-good-loews
|title=ACQUISITION OFFER STILL GOOD: LOEW'S
|date=June 18, 1968}}</ref> Loews had acquired nearly 10% of CCC, which it intended to break up on acquisition.<ref>{{cite web
|url=https://www.courtlistener.com/opinion/1993927/loews-theatres-inc-v-commercial-credit-company  |title=Loew's Theatres, Inc. v. Commercial Credit Company, 243 A.2d 78}}</ref> To avoid the takeover, CCC forged a deal with CDC lending them the money to purchase control in CCC instead, and "That is how a computer company came to own a fleet of fishing boats in the Chesapeake Bay."<ref name="Price">{{cite book|last=Price|first=Robert|title=The Eye for Innovation: Recognizing Possibilities and Managing the Creative Enterprise|publisher=Yale University Press|location=New Haven, Ct|date=2005-11-11|edition=1|volume=11|pages=[https://archive.org/details/isbn_9780300108774/page/168 168]|isbn=978-0-300-10877-4|url=https://archive.org/details/isbn_9780300108774/page/168}}</ref> By the 1980s, Control Data entered an unstable period, which resulted in the company liquidating many of their assets. In 1986, [[Sanford I. Weill|Sandy Weill]] convinced the Control Data management to spin off their Commercial Credit subsidiary to prevent the company's potential liquidation.  Over a period of years, Weill used Commercial Credit to build an empire that became [[Citigroup]].<ref>{{cite web|last1=O'brien|first1=Timothy L.|last2=Creswell|first2=Julie|title=Laughing All the Way From the Bank|url=https://www.nytimes.com/2005/09/11/business/laughing-all-the-way-from-the-bank.html?pagewanted=all|website=The New York Times|access-date=27 July 2016|date=11 September 2005}}</ref> In 1999, Commercial Credit was renamed CitiFinancial, and in 2011, the full-service network of US CitiFinancial branches were renamed [[OneMain Financial]].<ref name="Citicorp-Nov-1999-10-Q">{{cite web|url=http://edgar.secdatabase.com/1918/100547799005214/filing-main.htm |title=Citicorp, Form 10-Q, Quarterly Report, Filing Date Nov 12, 1999 |publisher=secdatabase.com |access-date =Mar 28, 2013}}</ref>