September 14, 2013 |
Never let a crisis go to waste, says an old rule of politics. For some major players in the economy, the financial crisis that began five years ago this month with Lehman Bros.' collapse turned out to be as much an opportunity as a calamity. Although the memories that the anniversary evoke are overwhelmingly grim - cascading home foreclosures, bank failures, massive layoffs, diving stock prices - five years later some spectacular winners have emerged from the maelstrom, along with a more familiar list of pitiable losers.
March 31, 2001
Shares of NetGuru Inc. shot up 50% Friday, a day after the Yorba Linda information technology company said it would curtail operations. The stock, the biggest gainer among Orange County companies, rose $1 to close at $3 a share on Nasdaq. Core Inc. stock was the second-biggest gainer, rising 27% after the Irvine disability services manager said it agreed to be acquired by a New York firm. Core stock gained $1 to close at $4.75 a share on Nasdaq.
February 12, 2000
Core Inc., an Irvine provider of employee absence management services, said Friday that an arbitrator has ordered it to pay $1.7 million in stock to Transcend Services Inc. for breaching an asset purchase agreement. Core said it also is required to try to agree on a procedure for returning the assets and for determining the number of shares to be transferred. Core has 8.1 million shares of stock. The price fell 6 cents a share Friday to close at $7.44 in Nasdaq trading.
March 21, 2000
* William M. Andrea has joined Prudential Relocation in Irvine as vice president of relationship management, Western sector. Previously, Andrea was director of client services at Cendant Mobility. Prudential Relocation is a business unit of Prudential Real Estate and Relocation Services, a subsidiary of the Prudential Insurance Co. of America. * Steve Collis has been appointed to Orange-based Bergen Brunswig Corp.'s Office of the President.
August 29, 2000 |
Viasource Communications Inc. said Monday it has cut about 150 employees nationwide, including 20 at its unit in Newport Beach. The local job cuts came at the former TeleCore Inc., which Viasource acquired in June. The unit, which provides digital subscriber lines that allow high-speed Internet service through traditional phone lines, had 500 employees, including 125 in Newport Beach. Viasource bought TeleCore for $172.
March 22, 2000 |
Nortel Networks Corp. agreed to buy closely held CoreTek Inc. for up to $1.43 billion in stock to reduce the cost of making fiber-optic transmission gear. Wilmington, Mass.-based CoreTek makes lasers that can be tuned like a radio to change the color of light they generate. Tunable lasers are becoming important as Nortel and rivals seek to boost the capacity of transmission systems. Nortel rose $3.31 to close at $129.50 on the New York Stock Exchange.
CALIFORNIA | LOCAL
April 9, 1987 |
The well-to-do elderly may have a new home they can move into in a couple of years, following the City Council's approval this week of a senior citizens' housing project. Known as a "life-care" facility, the planned community for affluent elderly people will provide them with a guarantee of lifetime care, including medical facilities for the seriously ill.