March 20, 2014 |
Bond giant Pimco was dropped as the manager of a $1.3-billion bond fund and replaced by its Southern California rival, TCW Group Inc. The fund, which is offered by Columbia Management, was formerly called the Pimco Mortgage-Backed Securities fund. It will now be known as the TCW Core Plus Bond Fund, according to a statement from TCW. The size of the fund is small compared with the $1.9 trillion that Pacific Investment Management Co. managed at the end of the year. However, losing that business comes at an inopportune moment for the Newport Beach company.
May 22, 2013 |
Mobile advertising is about to become a lot more personal. Pasadena technology company UberMedia has launched a mobile advertising platform that tracks publicly available information provided by smartphone users on their social media channels and then offers them ads based on their interests and habits. UberAds scours sites such as Twitter, Pinterest and Instagram for clues about mobile device users. For example, the platform can send movie trailers to users who have tweeted frequently from a movie theater, indicating they're probably film buffs.
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.
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.
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.
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."