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March 11, 1986 | JAMES FLANIGAN, With today's edition, James Flanigan resumes a regular business column in The Times. It will appear each Tuesday and Friday. Flanigan is a business journalist with more than 20 years of experience with The Times, Forbes magazine and the New York Herald Tribune
Why the sudden appeal of Bank of America? In the last week, two fairly shrewd businessmen applied for the job of running BankAmerica Corp., the bank's parent company. That's the office in which Samuel H. Armacost, the boss for the last five years, has endured the long hum of criticism--from people who talk anonymously to business journals--and the harsh verdict of Wall Street: BankAmerica's stock fell as low as $12 a share recently from more than $30 in 1979.
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BUSINESS
August 7, 2013 | By David Lazarus
Terry noticed that his gas bill was double what he had paid for the same month last year. He called the gas company and was told that his bill had been estimated because no one actually had looked at his meter. Say what? Terry wants to know what the deal is with estimated utility bills. More videos from Ask Laz It's a growing problem. Utilities nationwide are seeing their customer base grow as the population increases but are cutting back on staff to save money. Their solution: estimated bills.
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CALIFORNIA | LOCAL
January 23, 2001
Medi Inc. has bought Health Management System's EDI transaction processing operation. Thousand Oaks-based Medi provides financial services for health care companies, including electronic claims and payment processing, eligibility verification and other e-commerce and Internet services for hospitals. Buying the operation from Health Management will expand Medi's business by giving it access to a wider customer base, said Larry Lai, Medi's co-founder and chairman.
BUSINESS
April 9, 2013 | By Tiffany Hsu and Walter Hamilton, Los Angeles Times
Ron Johnson was ousted as chief executive of J.C. Penney Co. after a remarkably short and gaffe-filled tenure that succeeded mainly in driving away customers. Johnson was lured 17 months ago from a top job at Apple Inc., where he was celebrated for pioneering the technology giant's cutting-edge retail stores. But he stumbled badly at J.C. Penney, pursuing an unorthodox upscale strategy that alienated the company's budget-minded base. His time at the helm of the 110-year-old department-store chain was marked by unusually sour statistics: Revenue tanked 25% in a single quarter.
BUSINESS
July 10, 1986
Microsemi Corp., a Santa Ana maker of semiconductor diodes, has acquired a tiny Torrance-based producer of specialized semiconductors in a move to expand its customer base. The purchase price for Bikor Corp. was not disclosed, but David R. Sonksen, Microsemi's vice president for finance, said the company was acquired for "less than $1 million" in cash and Microsemi stock.
BUSINESS
December 26, 1995
For 10 years, Judy Rosenbaum's Judaic stitchery business grew steadily, but its customer base was limited to Southern California. After she purchased a catalog and started a mail-order business, requests poured in from around the world. Rosenbaum was interviewed by Karen Kaplan. When I wanted to buy needlepoint canvases with a Jewish theme, I couldn't find any, and I figured that other people couldn't find it either. So I started a business and sold needlepoint out of my home for 10 years.
BUSINESS
June 6, 1995 | GEORGE WHITE, TIMES STAFF WRITER
Kmart Corp. on Monday ended a long search for a new top executive with a surprise choice, a former Target stores executive with strong California connections who hadn't figured in Wall Street's speculation. Floyd Hall, 56, replaces Joseph Antonini, who resigned in March under pressure from shareholders and directors after two consecutive years of declining profits. Hall will take the titles of chairman, chief executive and president.
BUSINESS
March 5, 1991 | CHRIS WOODYARD, TIMES STAFF WRITER
HomeClub, the largest chain of home centers based on the West Coast, said Monday that it is abandoning its longstanding membership pricing policy in a bid to lure more customers. While the company has always allowed anyone to shop at its stores, it has been known for a membership plan that provided a 5% discount. The program, however, led some consumers to mistakenly think that they could not shop at HomeClub without a membership. "Membership was an impediment," HomeClub President James F.
BUSINESS
April 25, 2000 | ROBIN FIELDS, TIMES STAFF WRITER
One of the nation's largest Internet retailers, Buy.com Inc., Monday reported widening losses in its first quarter as a public company. But the online superstoreshowed dramatic improvement in a key measure that could lead it to profitability. The Aliso Viejo company lost $32.8 million, or 28 cents per share, in the year's first three months, due largely to promotional and infrastructure expenses. That's 70% more than the $19.
BUSINESS
November 9, 2012 | By Laura J. Nelson, Los Angeles Times
Priceline.com, the popular online travel service, agreed Thursday to acquire Kayak Software Corp. for $1.8 billion, a deal that would boost Priceline's customer base as it wrestles with a sluggish economy and newer, more nimble rivals. Under the terms of the deal, Priceline will pay $500 million in cash and $1.3 billion in stock for Kayak, a comparison travel website. The sale values Kayak at $40 a share, a 26% premium to its closing price of $31.04 on Thursday and 57% higher than its July initial public offering price of $26. Shares of Kayak jumped 27% to $39.30 in after-hours trading Thursday, while Priceline shares fell slightly.
BUSINESS
April 4, 2013 | By W.J. Hennigan, Los Angeles Times
At the height of the wars in the Middle East, AeroVironment Inc. - a drone maker based in Monrovia - soared into the public limelight. In the last decade, AeroVironment became the Pentagon's top supplier of small drones. Its financial balance sheet prospered, its drones delivered results and its technology landed on the cover of Time magazine as one of the year's best inventions in 2011. But these days, not so much. Over the last month the company's shares have plummeted more than 18% as federal spending begins to dry up and the wars in Iraq and Afghanistan come to an end. It lowered its revenue guidance by nearly one-third, to $230 million to $250 million from $348 million to $370 million.
BUSINESS
November 9, 2012 | By Laura J. Nelson, Los Angeles Times
Priceline.com, the popular online travel service, agreed Thursday to acquire Kayak Software Corp. for $1.8 billion, a deal that would boost Priceline's customer base as it wrestles with a sluggish economy and newer, more nimble rivals. Under the terms of the deal, Priceline will pay $500 million in cash and $1.3 billion in stock for Kayak, a comparison travel website. The sale values Kayak at $40 a share, a 26% premium to its closing price of $31.04 on Thursday and 57% higher than its July initial public offering price of $26. Shares of Kayak jumped 27% to $39.30 in after-hours trading Thursday, while Priceline shares fell slightly.
BUSINESS
July 1, 2011 | Sharon Bernstein
The company that owns the Carl's Jr. and Hardee's fast-food chains is getting more healthy -- and a little less skanky. Stung by more than two years of dipping sales at the Carl's Jr. restaurants, and with its target audience of young men disproportionately suffering from unemployment, CKE Restaurants Inc. is trying to expand its appeal. It's a change in direction that may be starting to pay off. Led largely by the popularity of turkey burgers -- a product that would have been heresy at Carl's Jr. in past years -- sales have been increasing at those restaurants, the company said Tuesday.
BUSINESS
October 4, 2009 | Don Lee
With debt-burdened American consumers cutting back in response to the recession, many U.S. companies are increasingly looking outward, toward fast-developing countries such as China, India and Brazil. But instead of seeing these nations primarily as cheap producers of goods to sell to Americans, U.S. corporate leaders see them as potential customers for American products and services. That shift, which has been underway for several years but has intensified sharply during the downturn, comes as vast numbers of families in these emerging economies are moving into cities and spending like never before to improve their living standards.
BUSINESS
May 26, 2008 | Jerry Hirsch, Times Staff Writer
Cheesecake Factory Inc. has big hopes for its new Asian restaurant, but it won't be looking to RockSugar Pan Asian Kitchen to reignite growth at the company, once a Wall Street star. RockSugar opens June 19 in Century City, just as its parent company is facing investor discontent over a sagging stock price, declining profit and falling sales at its established restaurants.
BUSINESS
December 24, 2007 | Jessica Guynn, Times Staff Writer
Ever the proud father, Chris MacAskill screens 20-year-old home movies of his sons -- Ben singing about a stegosaurus, Mark getting a mohawk -- on his laptop. "This is the negative of working with family members," a red-faced Mark, now 26, says before retreating to his cubicle. Meet the MacAskills, Silicon Valley's version of the Waltons: seven members of a close-knit clan, ranging in age from 23 to 63, who run SmugMug Inc., which helps families share their own Kodak moments online.
AUTOS
October 10, 2007 | Susan Carpenter, Times Staff Writer
Las Vegas The gusty winds at Las Vegas Speedway carried the twin aphrodisiacs of fast women -- exhaust and accelerating gears. The occasion: Femmoto. As its name implies, Femmoto is an event for women motorcyclists. Some might say it is the event for women motorcyclists, since Femmoto is quickly becoming the one-stop shop not only for women to see something that isn't at all common on the road -- other female motorcyclists -- but to test-ride all kinds of new bikes.
BUSINESS
September 7, 2007 | From Times Wire Services
Volkswagen is moving its North American headquarters out of the Detroit area to the suburbs of the nation's capital and will cut 400 jobs in the process, the German automaker said. Volkswagen of America's move to Herndon, Va., from Auburn Hills, Mich., will be completed by the end of next year, the company said. Volkswagen said it wanted to move closer to the company's customer base, which is strong on the East and West coasts and particularly strong in the mid-Atlantic region.
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