ROSALSKY: And ITT wasn't alone in owning this, like, wild, bizarre mix of companies. But the conglomerate went on to own more than 350 companies, including everything from Sheridan Hotels to Avis Car Rentals to the maker of Wonder Bread. You might not have heard of the ITT Corporation, which was originally a telephone and telegraph company. VANEK SMITH: Back in the late 1960s, conglomerates were all the rage. Are the techglomerates (ph) really different? Or will they fall victim to the same forces that killed off their predecessors? VANEK SMITH: Today on the show - the rise and fall and rise of the conglomerate. But at the same time, we're seeing the rise of this new kind of conglomerate - the techglomerate (ph). Conglomerate is basically a bad word on Wall Street. Tech companies like Google, Facebook and Amazon - they have been buying up a hodgepodge of companies in industries that they have not traditionally worked in. VANEK SMITH: But while a lot of old American conglomerates like these seem to be kind of going extinct, there is a new breed evolving to take their place at the top of the food chain. ROSALSKY: I thought Johnson & Johnson would be together forever. VANEK SMITH: I really thought those crazy kids would make it. We're talking General Electric and Johnson & Johnson. ROSALSKY: We're talking about, you know, the much more sensational here. But, of course, we're not talking about them. There's been Bill and Melinda, Kim and Kanye. There have been a bunch of break-ups recently. (SOUNDBITE OF DROP ELECTRIC SONG, "WAKING UP TO THE FIRE")
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