January 21, 2014 |
Mohamed El-Erian unexpectedly resigned from his post as chief executive and co-chief investment officer of global investment management firm Pimco on Tuesday, the firm said in a statement. El-Erian will leave the firm in March and will remain a member of parent company Allianz's international executive committee. He will also serve as an advisor on global economic and policy issues. William H. Gross will continue to serve as chief investment officer, the firm said in a statement. "I have been extremely honored and fortunate to work alongside Bill Gross, who is one of the very best investors in the world," El-Erian said in a statement.
January 17, 2007 |
Bill Gross, manager of the world's biggest bond fund at Newport Beach-based Pacific Investment Management Co., has pared his Treasury holdings to the lowest level in six months. Gross and a growing number of investors are reducing Treasury bonds in favor of mortgage-backed securities as expectations for lower interest rates this year fade.
December 3, 2013 |
WASHINGTON -- Easy-money policies by the Federal Reserve and other central banks have left the U.S. and other economies "increasingly at risk," bond guru Bill Gross warned. The co-chief investment officer at Pacific Investment Management Co., or Pimco, said that "investors are all playing the same dangerous game that depends on a near perpetual policy of cheap financing and artificially low interest rates in a desperate gamble to promote growth. " The comments by Gross in his monthly investment outlook came as stocks opened lower Tuesday amid investor concern that recent upbeat economic data could lead the Fed to start reducing its monthly bond-buying stimulus program.
November 7, 2002 |
In a small room in Pasadena that looks like a high school machine shop, the man whose high-tech incubator once spawned some of the hottest companies in Southern California is in the midst of what he insists could be his biggest idea ever. Bill Gross spends most of his time here these days, behind glass doors, tweaking the design of solar engines at a venture tentatively called Pasadena Power.
October 24, 2013 |
Carl Icahn, the billionaire activist investor who has made a career of pushing companies to make changes to boost shares, published a letter to Apple Inc. Chief Executive Tim Cook urging the company's board to increase the size of a stock repurchase. Icahn promised not to tender his shares if Apple agrees to his proposal to implement a $150-billion repurchase, he said in the open letter that he posted on his website Thursday. Icahn said he has increased his holdings in the company to 4.7 million shares worth $2.5 billion, from 3.4 million shares in August.
February 9, 1999 |
Hundreds of thousands of people flooded the Web site for Free-PC.com Monday to sign up for one of the first 10,000 computers the Pasadena company said it would give away to people who are willing to share personal information and receive targeted advertisements. The Web site was visited by an estimated 300,000 people by midafternoon, with nearly all of them filling out the online application for the fully equipped PCs made by Compaq Computer, said Free-PC.com spokesman Steve Chadima.
January 22, 2014 |
From an office tower overlooking the sumptuous Fashion Island mall in Newport Beach, Mohamed El-Erian sat atop a massive treasure trove of wealth as chief executive of Pimco. Soft-spoken and cerebral, El-Erian presided over a financial juggernaut that rose to become one of the biggest and most influential investment firms in the world. His ubiquitous appearances on cable news shows could sway financial markets in a split second. On Tuesday, El-Erian unexpectedly announced his resignation as CEO. Pimco offered no explanation for the departure, sparking conjecture on Wall Street about whether the current challenges at the investment giant played a role.
November 19, 2011 |
Reporting from New York and Los Angeles - When the U.S. government needed expert help in evaluating the bonds that caused the 2008 financial crisis, there were only two men it could turn to. Larry Fink, the founder of investment giant BlackRock Inc., and Bill Gross, the founder of Pacific Investment Management Co., are the generally acknowledged kings of the bond universe. Together, the companies they run hold approximately 7.5% of all outstanding bonds. The $1.2 trillion managed by BlackRock and the $1.1 trillion at Pimco dwarf the holdings of the next largest bond players, according to data from Pensions & Investments.
June 13, 1994 |
Nearly every week at Knowledge Adventure's nondescript headquarters in La Crescenta, the company's chairman and founder, Bill Gross, watches as a group of children compare his latest experiments in interactive educational software--"Bug Adventure," say, or "The Discoverers"--to video games like "Streetfighter II." And nearly every week, he says, they like the video games better.
November 6, 2000 |
Pasadena-based Idealab built itself into one of the major hubs of Internet entrepreneurship by churning out companies such as online toy retailer EToys, Internet search firm Goto.com and online city guide and local services provider Ticketmaster Online-CitySearch. But now the original Net business incubator has become a victim of the industrywide downturn that has sent stock prices crashing and made the public leery of anything that ends in "dot-com."