Cendant Splits

Just a few days after Barbara’s big going away party, Cendant Corp. announced it it is splitting the company into four parts. Shares fell nearly 5 percent since word got out this morning.

The company’s real-estate division, NRT, bought the Corcoran Group in 2001 for $70 million. It recently combined it with the Sunshine Group, which had been purchased 15 years earlier. The real estate powerhouse also owns Century 21, Coldwell Banker, and ERA.

-Michael Calderone Cendant Splits