June 22, 2000 |
H&R Block Inc., the world's biggest tax preparation company, named Chief Executive Frank L. Salizzoni chairman to replace Henry W. Bloch, 77, who will retire in the fall. Bloch, who founded the Kansas City company in 1955 with his brother Richard, will stay with the company as honorary chairman. Salizzoni will become chairman Sept. 13 and will retire as chief executive Dec. 31, to be replaced by Mark A. Ernst, the current president and chief operating officer.
November 26, 2003 |
H&R Block Inc., the world's biggest tax preparation company, earned a second-quarter profit for the first time in its history because of a 20% increase in mortgage lending earnings. Its shares rallied in after-hours trading. Net income was $10.4 million, or 6 cents a share, contrasted with a loss of $37.3 million, or 21 cents, a year earlier. Analysts surveyed by Thomson First Call expected a 6-cent loss. The company increased its annual earnings forecast to a range of $3.65 to $3.
August 29, 2001 |
AOL Time Warner Inc. agreed to promote services from H&R Block Inc., the world's biggest tax preparer, on its Internet and television networks, including America Online and Time Warner Cable. H&R Block will offer America Online service to clients at its 10,400 offices worldwide. Terms of the agreement weren't disclosed. Separately, H&R Block said its fiscal first-quarter losses narrowed to $30.8 million, or 17 cents a share, from $51.
July 6, 2007 |
H&R Block Inc.'s mortgage unit lost a $1.5-billion credit line, falling "dangerously close" to the minimum amount of borrowing capacity demanded by a hedge fund firm that has agreed to buy the money-losing home lender. The tax-preparation giant, based in Kansas City, Mo., said it was confident the loss of the credit line wouldn't stop the sale of sub-prime lender Option One Mortgage Corp. to Cerberus Capital Management, a New York-based hedge fund manager.
June 30, 1999 |
H&R Block Inc., the world's largest tax preparer, said it will pay $290 million for accounting firm McGladrey & Pullen's non-audit business, expanding its accounting and consulting practice fourfold as it builds a full-range financial services company. The transaction would make H&R Block the nation's sixth-largest accounting firm, with about $400 million in revenue.
June 28, 2007 |
Richard Breeden, former head of the Securities and Exchange Commission and now a hedge fund manager, is seeking a seat on H&R Block Inc.'s board as management faces pressure to sell the company. Breeden Capital Management, which holds about 2% of H&R Block's shares, will nominate Breeden and two other people to fill three seats on the company's 11-member board in September, the Greenwich, Conn.-based investment firm said Wednesday.
January 26, 1999 |
H&R Block Inc., the largest tax-preparation company in the U.S., said it will sell its credit card unit to Providian Financial Corp., exiting the card business. San Francisco-based Providian will buy H&R Block's $181-million WebCard Visa portfolio. Terms of the transaction, which is expected to close Friday, weren't disclosed. The credit cards were used by customers of H&R Block's former CompuServe online service. The company sold CompuServe to MCI WorldCom Inc. in February.
January 13, 2000 |
H&R Block Inc., the world's largest tax preparation company, said it will offer online trading and some mortgage services as part of its Internet operations. The Kansas City, Mo.-based company also will expand the number of its U.S. financial services centers, which offer mortgage services, investment advice and tax preparation, for a total of 94 this year. E-Loan Inc. is working with H&R Block on providing mortgage rates for its online service.