May 20, 2009 |
Bank of America Corp. is making progress filling the capital hole on its balance sheet. The bank said Tuesday that it had raised $13.5 billion since May 8 by selling new shares to investors. After conducting "stress tests" of 19 major banks, the government told 10 of them on May 7 that they needed to increase their capital levels. Bank of America was told it needed to find $34 billion in additional capital by November.
February 28, 2009 |
In agreeing to become the biggest owner of Citigroup Inc.'s common stock, the government is moving as close as it has come in 25 years to nationalizing a major bank, demonstrating a continued willingness to act aggressively to address the financial crisis. "I think it underlines what they've already been saying," said Douglas J. Elliott, an economics fellow at the Brookings Institution and a former investment banker. "One, they're going to make sure these banks are not going to go under.
February 13, 2009 |
Struggling Charter Communications Inc., the nation's fourth-largest cable operator, said Thursday that it planned to file a prearranged Chapter 11 bankruptcy by April 1. Charter, which is controlled by Microsoft Corp. co-founder Paul Allen, said it had reached an agreement in principle with holders of $8 billion in debt, who will give up repayment of their debt.
January 16, 2009 |
Maguire Properties Inc. founder Robert F. Maguire increased his stake in downtown Los Angeles' largest office landlord to 9.8% and said he might seek talks with the company, investors or potential partners. Maguire, 73, who quit Maguire Properties as chairman and chief executive in May, bought 1.56 million shares of the Los Angeles-based company's common stock for about $2.99 million from Dec. 9 through Jan. 13, he said Thursday in a filing with the Securities and Exchange Commission.
November 6, 2008 |
Whole Foods Market Inc. reported another quarter of dismal results Wednesday, but the company's battered stock rallied on news that Los Angeles-based private equity firm Leonard Green & Partners will pump $425 million in capital into the retailer. Green, a well-known investor in the retail sector, is buying preferred stock that is convertible into a 17% stake in Whole Foods' common shares.
October 21, 2005 |
SkinMedica Inc., a Carlsbad, Calif.-based maker of skin-care products, Thursday withdrew its initial public offering registration with the Securities and Exchange Commission because of "market conditions." The company originally filed for an IPO in April and set the terms last month at 5.25 million common shares with an estimated price range of $11 to $13 a share.