Trans World Corporation was the original name of the holding company set up to own Trans World Airlines. History In 1967, when the airline sought to diversify into other areas of business, a key investment was Hilton International Hotels, the non-American interests of the Hilton Hotels chain. (Because of this split, the Hilton International chain had to call its hotels in America Vista, while future overseas locations of the American Hilton chain were called Conrad International. This operation was later sold by Trans World Corporation while under the leadership of Charles C. Tillinghast Jr. the CEO of TWA and the first known to receive a golden parachute employment contract. In 1983, Trans World Corporation, under Chief Executive Officer L. Edwin Smart, spun off Trans World Airlines to Carl C. Icahn, At the time of TWA's spinoff, TWC owned Spartan Food Systems Inc., the Canteen Corporation, Hilton International, and Century 21 Real Estate Corporation. Trans World Airlines Worldwide As a result of both Trans World Airlines and Trans World Corporation being publicly traded prior to the spinoff, public records permitted analysis which indicates that "wealth transfer" of a sale of TWA was as much a reason for the sale of TWA as was a desirability to "restructure union contracts". Conversely, it was circa 1982-1984 when UAL Corporation and AMR Corporation, the parent companies of United Airlines and American Airlines first took shape. This period is also an era marked by extremely competitive airline industry forces fighting for deregulation survival along with fighting for opportunities of vast individual creations of wealth characterized by those accumulated by leading industry figures such as Frank Lorenzo and Carl Icahn during the 1980s. In 1986, TWC was liquidated. TW Services was formed at end of 1986 upon the dissolution of Transworld Corp. L. Edwin Smart remained head of TW Services Inc., the successor of Trans World Corporation which remained headquartered in the same building and shared many directors as Trans World Corporation. TW Services Inc. continued the use of the TW ticker symbol on the NYSE. Its business centered on food services and retirement care. TW Services was the target of several hostile take over attempts which ended in June 1989 when TW Services agreed to be taken over by Conniston Partners for $1.65 billion. As part of the buy out, TW Services moved its headquarters from New York City to Spartanburg, South Carolina. Flagstar Companies