June 15, 2004 |
A former company accountant who worked for former Cendant Corp. Chairman Walter Forbes and Vice Chairman E. Kirk Shelton told jurors Monday that merger funds were used to inflate income. Testifying at the executives' criminal fraud trial, accountant Casper Sabatino said Cendant predecessor CUC International Inc. set aside a "merger reserve" of $3.4 million to buy Welcome Wagon International, while only about $1.5 million was needed.
December 22, 1998 |
Stock Exchange gives readers a chance to listen in as staff writers James Peltz and Michael Hiltzik debate the merits of individual stocks. Cendant (CD) Mike: Now here's a company that offers us numerous lessons, among them that Wall Street has a very short memory. Jim: True. Only a few months ago Cendant crashed and burned, plummeting 46% in a single day. Mike: As well it should have. Jim: Yet today Wall Street acts as though it never happened.
February 10, 1997 |
Just three months ago, Bob Davidson was heaping high praise on CUC International, the Stamford, Conn.-based technology consumer services company that agreed to purchase his educational software business for $1.5 billion nearly a year ago. "We're happy campers," said Davidson, who founded Davidson & Associates in 1984 with his wife, Jan, a onetime English teacher.
November 6, 1996 |
Educational software maker Knowledge Adventure became the latest boutique multimedia firm that may lose its independence with the disclosure Tuesday that CUC International, a marketing company, plans to buy the privately held firm by year-end. Glendale-based Knowledge Adventure will be purchased in a stock deal valued at between $50 million and $100 million, said Laura Hamilton, CUC International's vice president of investor relations.
February 21, 1996 |
Signaling both the rapid consolidation underway in the multimedia software business and the swift rise of electronic commerce, a major East Coast marketing company said Tuesday that it will acquire both Davidson & Associates, the Torrance-based educational software leader, and Sierra On-Line Inc., a Bellevue, Wash.-based interactive entertainment company, in a pair of stock swaps worth a combined $1.7 billion. CUC International Inc., a Stamford, Conn.
November 17, 1993 |
Time Warner Announces Interactive Ventures: The media giant said it is forming a home shopping service in conjunction with CUC International, the nation's largest telephone-based shopping operation, for its prototype cable network in Orlando, Fla. Time Warner Inc. also plans to offer video news on demand over the Orlando system, using the resources of Time Inc. publishing and New York 1 News, its 24-hour New York City news service.