Wall Street is getting a version of Hokey Pokey Elmo, a chief executive who takes his subsidiaries in, then spins them back out. Barry Diller, the chairman and chief executive of IAC/InterActiveCorp,
said yesterday that his Internet conglomerate would spin off its travel unit to shareholders, slightly more than a year after completing the purchase of Expedia and several other online companies that
it had partly owned.
Read the whole story at The New York Times, December 22, 2004