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.
[3] 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".
[5] TW Services was formed at end of 1986 upon the dissolution of Transworld Corp.[6] 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.
[8] As part of the buy out, TW Services moved its headquarters from New York City to Spartanburg, South Carolina.
At the time of emergence, Advantica owned Denny's, Carrows, Coco's, El Pollo Loco and Quincy's Family Steakhouse and was the largest franchisee of Hardee's restaurants.