August 11, 1985
This letter is in response to a news item which appeared in the "Briefly" column of The Times' Business Section on July 31. The item in question reported on the sale by Financial Corp. of America of its FCA Mortgage Securities subsidiary to Salomon Bros. A tombstone advertisement on Sept. 15, 1983, announced the sale of $1.5 billion of Federal Home Mortgage Corp. participation certificates, a transaction arranged by FCA Mortgage Securities. This was at the time the largest single financing transaction in U.S. business history, and is but one of a series of multibillion-dollar mortgage securities transactions consummated by this operation during my tenure as general counsel of FCA. To state, as did the news item in question, that this operation "never got off the ground" is grossly inaccurate, as one would have discovered with even a minimal amount of inquiry.
March 25, 2014 |
A collection of jewelry once owned by the late Eydie Gorme that is headed to the auction block in New York City next month will be previewed locally -- for one day only -- this Sunday. The March 30 preview at Sotheby's Los Angeles marks the public unveiling of the auction-bound lot, which is set to go under the gavel in New York on April 29. If you know anything about Gorme -- beyond the fact that she was a singer -- it's probably that she was half of the vocal duo Steve & Eydie.
December 11, 2012 |
WASHINGTON -- The Treasury Department said Tuesday it would raise $7.6 billion in the sale of its final shares of American International Group, ending the controversial bailout of the insurance giant with a $22.7-billion profit. The department agreed to sell its remaining 234 million shares in AIG, which represented 15.9% of the company, for $32.50 each. The sale in effect closes the books on a rescue that at its height had the government on the hook for more than $182 billion and owning 92% of the company.
December 3, 2000 |
The ex-wife of a former Harvard professor wants the university to publicly apologize, saying the school forced her then-husband to leave almost 50 years ago on suspicions he was a communist. Ann Fagan Ginger, 75, told the Boston Herald that she has sent the school a registered letter explaining the case, along with a copy of an FBI document about her ex-husband, who died in 1975. She said she is still waiting for a response. Her ex-husband, Raymond S.
March 27, 1990 |
A brokerage house that fired a gaming industry analyst who issued a negative critique of Donald J. Trump's newest casino project has tarnished its image and increased skepticism about investment advice, industry observers said Monday. Marvin Roffman, an analyst for 16 years with Janney Montgomery Scott Inc., was fired last Friday.
July 1, 1996 |
In Robert W. Welkos' article " 'Cable,' 'Rock' in Disputes on Writing Credits" (Calendar, May 21), Michael Bay, director of "The Rock," attacks the arbitration system the Writers Guild of America uses to determine screen-writing credits. An open letter Bay wrote is quoted: "I have more intimate firsthand knowledge of the evolution of this screenplay ["The Rock"] than any individual involved in the project with the exception of producer Jerry Bruckheimer.
June 21, 1989 |
Women own more than a quarter of all small U.S. companies, but a women's economic development group maintains that many of these entrepreneurs still don't have the financial savvy to write a credible loan application. Beatrice Fitzpatrick, president and founder of American Woman's Economic Development Corp., said women's uneasiness with the financial end of business is cultural. "Most women who come here are wonderful at the creative end but haven't learned the business end," she said.
June 9, 1992 |
William McGowan, the feisty founder of MCI Communications Corp. whose dogged challenge of AT&T forced its historic breakup and sparked a revolution in the telecommunications industry, died Monday. McGowan, who had a heart transplant in 1987, suffered a heart attack shortly after arriving at Georgetown Medical Center in Washington, where he was about to begin his regular cardiovascular exercise program. He was 64.