Last month, Major was named the nation's largest seller of used cars as a percentage of total vehicle sales by Ward's Dealer Business, an industry trade journal. Major is a unit of Fidelity Holdings Inc., a public company based in Kew Gardens. The Plainview-based toymaker has sought to lessen its reliance on Christmas sales by expanding into kites, water toys and other items that are popular in spring and summer. It also began selling candy based on entertainment properties such as the World Wrestling Federation. When you buy an existing business, you don't have to create awareness.
Kids already know the products.
While the trend among Top 100 companies has been toward acquisition, not all were buyers in the past year. 3 Cablevision Systems Corp. shed its cable operations in Boston, Cleveland and Kalamazoo, Mich., to concentrate on its Long Island franchise and entertainment portfolio, which includes Radio City Music Hall, Madison Square Garden and the Knicks and Rangers. Avis chief executive Barry Rand said proceeds from the sale will be used to pay off bank debts, making more cash available for new ventures. A month later, Intellesale's parent said it would take over ATEC in a friendly stock deal. But the deal collapsed last month when shares in both companies lost nearly 30 percent of their value in a widespread selloff by investors.