September 1, 1987
Incomnet, the troubled Westlake Village computer products firm, said it has raised $400,000 in a private placement. Proceeds will be used to pay off institutional lenders. The company also said that it had converted $300,000 in debt into common shares of Incomnet stock. Incomnet, which makes equipment allowing computer users to exchange messages, said the debt to equity conversion was one of its final steps in a corporate restructuring program begun in January.
July 2, 1993
dGWB has laid off six people in a corporate restructuring, said Jim deYong, the advertising agency's executive vice president. He said two of the positions will be restored when the restructuring is complete. DeYong said the agency, which is one of the largest independents in Orange County, is moving away from high-tech accounts and toward consumer products. The agency handles El Pollo Loco restaurants, Shimano bicycling and fishing equipment and Thermidor.
June 30, 2006 |
Delphi Corp., once among the world's biggest makers of automotive batteries, will leave the business after selling a plant to Johnson Controls Inc. as part of a move to focus on other auto parts. Auto battery production is one of about 10 product lines Delphi is leaving over the next year. The Troy, Mich.-based company plans to focus on niche and high-tech products after it emerges from Chapter 11 protection by mid-2007 and attempts to be competitive as a parts maker.
March 1, 2008 |
Maybe it was the lusty mannequins in its stores, the massage oil on its shelves or the overabundance of cleavage on the glittery runway of its annual TV fashion show. But this week, Victoria's Secret Chief Executive Sharen J. Turney acknowledged that the chain had gotten "too sexy." Is such a thing even possible? "We have moved off of our brand heritage," she said in a conference call with analysts. "We use the word 'sexy' a lot and really have forgotten the ultra-feminine."
February 12, 1997 |
Higher medical costs and a corporate restructuring involving 700 to 900 job cuts caused managed-care company Humana Inc. to report a 55% decline in fourth-quarter earnings. Humana earned $22 million, or 13 cents per share, compared with $49 million, or 30 cents, in the fourth quarter of 1995. The earnings include a previously announced charge of 6 cents per share to pay severance and other costs associated with the restructuring.
July 4, 1992 |
An Ontario judge Friday approved a plan by Olympia & York Developments Ltd. and its creditors to share general, administrative and restructuring costs--a move that should allow O&Y to proceed on the more important issue, its corporate restructuring plan. Justice Robert Blair approved the plan after O&Y and its creditors presented arguments in a half-hour court session. O&Y lawyer David Brown said the issue was resolved after court late Thursday by changing some language in the draft plan.
September 6, 1989 |
Grand Metropolitan PLC said Tuesday that it has signed an agreement to sell its interests in the William Hill and Mecca betting shops to Brent Walker PLC for about $1.06 billion. The agreement, which had been widely anticipated, is subject to approval by shareholders of Brent Walker, a British leisure industry company, and clearance by Britain's Office of Fair Trading.
July 23, 1992
Amoco Corp. said it lost $478 million in the second quarter, due to a huge $805-million charge for a corporate restructuring and job cuts. The loss, equal to 96 cents a share, contrasted with a profit of $238 million, or 48 cents, in the period last year. Amoco, the nation's fifth-largest oil company, announced this month that it would cut 8,500 jobs from its work force of about 54,000 in the next 18 months. It said the cuts were necessary because of a slide in U.S.