CALIFORNIA | LOCAL
September 13, 1990
The letters are pouring into a Manhattan court beseeching U.S. District Court Judge Kimba M. Wood to be merciful in next month's sentencing of junk bond king Michael Milken. The former Drexel Burnham Lambert executive faces jail time for his part in one of the largest securities scandals ever to hit Wall Street. Over the years Milken has given generously of his time and money to various charities, communities and causes.
April 5, 1985 |
Golden Nugget Inc. acknowledged Thursday that the executor of the Conrad Hilton estate has rejected its $488.3-million offer to buy 27.4% of Hilton Hotels Corp., adding that it is studying its next move. As previously reported, James E. Bates, executor of the estate of Conrad N. Hilton, founder of Beverly Hills-based Hilton Hotels, said in a letter to Golden Nugget Chairman Stephen A. Wynn that the $72-per-share price for the 6.78 million Hilton shares owned by the estate is "inadequate."
March 29, 1985 |
MCA Inc., in a proxy statement mailed earlier this week, is asking its shareholders to approve a broad range of anti-takeover measures, including a 50% increase in the number of authorized shares and the power to issue preferred stock. If shareholders agree to increase the number of authorized common shares to 150 million, the Los Angeles-based entertainment conglomerate would have the ability to issue twice as many shares as a corporate raider could currently buy. Only 48.
May 1, 1985 |
James Bates, executor of the Conrad Hilton estate, charged Tuesday that a suit by the California attorney general is aimed at pressuring him to sell a controlling block of Hilton Hotels stock to Golden Nugget. In papers filed for a crucial court hearing today, Bates and Hilton Hotels alleged that Golden Nugget lawyers "instigated" a petition by Atty. Gen. John Van de Kamp last week that asks the Los Angeles County Superior Court to bar Bates from voting the estate's 27.
November 7, 1985 |
The Dunes Hotel & Casino, faced with a growing number of financial and legal problems, filed for Chapter 11 protection in U.S. Bankruptcy Court on Wednesday. The filing placed in limbo a series of legal maneuvers under way against the troubled Strip resort, which remained open for business. Officials of Las Vegas-based Valley Bank had been scheduled to appear Wednesday morning in District Court to ask for a receiver to oversee the hotel, which defaulted in September on a $68.6-million loan.
October 30, 2002 |
Zenith National Insurance Corp. Chairman Stanley Zax, who helped run the Las Vegas Hilton more than three decades ago, offers this advice on placing a bet: Back a proven winner, especially when the odds improve. Zax said Tuesday that Zenith's operating subsidiary spent $13 million to buy 1 million shares of Wynn Resorts Ltd., which will build Le Reve, a $2.4-billion hotel-casino that is the latest venture of Las Vegas veteran and longtime Zax pal Steve Wynn.
February 24, 1990 |
Notebook leftovers and random comments from a never-to-be-forgotten shocker in Tokyo: A championship jab: One major reason we have a heavyweight champion named Buster today is because he effectively employed boxing's most under-used and underrated weapon, the left jab. Almost from the outset, Buster Douglas--in the Douglas camp, only his manager, John Johnson, calls the new champion by his first name, James--was finding his target, Mike Tyson's face, with regularity.
CALIFORNIA | LOCAL
August 25, 1991 |
When Don Laughlin bought a tiny, remote gaming club known as the Riverside Bait Shop a quarter-century ago he hardly envisioned the gaming mecca that would follow. Today, Laughlin is Nevada's third-ranking gaming area, with glitzy casinos and 8,100 hotel rooms in an area once overgrown with scrub and weeds. A hundred yards away, across the shining expanse of the Colorado River, sits Bullhead City, Ariz.
April 1, 1986 |
Barron Hilton, chief executive of Hilton Hotels Corp., was the first witness Monday in a long-delayed trial over whether he or charity will benefit from the increased value of the hundreds of millions of dollars worth of the hotel firm's stock accumulated since his father, Conrad N. Hilton, died at 91 in January, 1979. The trial also is expected to decide whether Barron Hilton or the Conrad N. Hilton Foundation will end up owning the controlling 27.4% interest in the big hotel chain.
February 17, 1988 |
The price of MCA Inc. stock continued to rise Tuesday in heavy trading, fueled by last Friday's disclosure that New York real estate developer Donald Trump might escalate his present small stake in the company into a 24.9% holding. Shares of the entertainment Goliath closed at $47.50 on New York Stock Exchange, up $2.50, for a total gain of $7.75 a share in the two trading days since last week's news about Trump galvanized the market. A total of 1.