May 18, 1994 |
Bally to Focus on Casinos, Change Name: The company will spin off its health club chain, the nation's largest, to concentrate on its gambling business and also change its name to Bally Entertainment Corp. from Bally Manufacturing Corp. The spinoff, expected by the end of the year, will make Bally's Health & Tennis Corp. a separate company. Bally shareholders will receive stock in it. Chicago-based Bally's 350 fitness centers in 27 states have about 4.2 million members.
August 12, 1988 |
Bally Manufacturing Corp. said late Thursday that it will spin off its hotel-casino group, which accounts for nearly half of its revenue, as a separate publicly-held company but will retain up to a 15% stake in the business. Bally stockholders will receive, tax-free, one share of common stock in the hotel-casino business for each share of Bally Manufacturing they own on the effective date of the spinoff, the Chicago-based company said in a statement.
May 17, 1992 |
The mood at the second annual Orange County Communications Industry Economic Forum was one of survival. Panelists, for example, shared advice on such recessionary topics as how to select which employees to lay off. The industry has witnessed the demise of about half of its 420 advertising agencies in the past two years, and a few of those who are still in business told how they did it. Most panelists at the Friday session agreed that the worst is behind them.
April 27, 1990
Bentall Development Co. acquired the 12-story One Pacific Tower and the six-story One Pacific Plaza II office buildings at Pacific Plaza in January for about $34 million. Pacific Plaza, a 14.3-acre development in Huntington Beach, includes three office buildings, a Holiday Inn, two restaurants, a medical office building and a parking structure. One Pacific Tower, which was completed in 1988, is 55% leased. The six-story building, finished in 1985, is 60% leased.
December 4, 1990 |
In the bleakest of beginnings to the holiday season, the Los Angeles office of the ad agency J. Walter Thompson on Monday handed walking papers to about 35 employees--about one-third of its staff. The layoffs, which follow the agency's decision last week to drop the estimated $50-million Bally's Health & Tennis Corp. media-buying business, will take effect Jan. 1. The layoffs are across the board, from secretaries to senior vice presidents. "This is no time for pep rallies," said William M.
CALIFORNIA | LOCAL
April 28, 1993 |
A health club chain agreed Wednesday to pay $33,000 to settle a civil lawsuit over allegations of misleading advertising and using bait-and-switch tactics to sell memberships in the San Fernando Valley. The Sports Connection and The Sports Club Management Co., agreed to pay the fines to settle a suit brought in Los Angeles Superior Court by Los Angeles Dist. Atty. Gil Garcetti. At the time, Sports Connection was managed by The Sports Club Management Co.