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Howard L Jr Clark

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BUSINESS
March 5, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
American Express Co. moved boldly Sunday to quell speculation about the future of its troubled brokerage unit, Shearson Lehman Hutton Inc., announcing that it had ended talks with all other parties and would instead buy all of the Shearson shares that it doesn't already own. American Express currently owns 61% of Shearson. The company said it proposed to Shearson's board a tax-free exchange of stock that would give the company 100% of Shearson's common stock.
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BUSINESS
March 5, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
American Express Co. moved boldly Sunday to quell speculation about the future of its troubled brokerage unit, Shearson Lehman Hutton Inc., announcing that it had ended talks with all other parties and would instead buy all of the Shearson shares that it doesn't already own. American Express currently owns 61% of Shearson. The company said it proposed to Shearson's board a tax-free exchange of stock that would give the company 100% of Shearson's common stock.
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BUSINESS
February 3, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
Federal prosecutors have given former stock speculator Salim B. (Sandy) Lewis immunity from further prosecution and are expected to force him to testify about any role that top officials of American Express Co. may have played in the 1986 manipulation of Fireman's Fund Corp. stock. Lewis pleaded guilty in August to three felony counts related to the incident. He was sentenced to three years on probation, fined $250,000 and ordered to perform community service at a drug rehabilitation center.
BUSINESS
March 1, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
American Express confirmed Wednesday that it has held preliminary, exploratory talks about a possible merger or other business combination between its troubled brokerage unit, Shearson Lehman Hutton, and Smith Barney, Harris Upham & Co. An American Express spokesman said late Wednesday night that "very preliminary" discussions have been held but that no concrete proposals are on the table. The spokesman said he did not know if further discussions will take place.
BUSINESS
March 1, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
American Express confirmed Wednesday that it has held preliminary, exploratory talks about a possible merger or other business combination between its troubled brokerage unit, Shearson Lehman Hutton, and Smith Barney, Harris Upham & Co. An American Express spokesman said late Wednesday night that "very preliminary" discussions have been held but that no concrete proposals are on the table. The spokesman said he did not know if further discussions will take place.
BUSINESS
January 31, 1990 | JAMES BATES, TIMES STAFF WRITER
Peter A. Cohen resigned Tuesday night as chief executive of Shearson Lehman Hutton Inc., the beleaguered Wall Street firm. He was replaced by Howard L. Clark Jr., chief financial officer for American Express Co., which owns 61% of Shearson. Shearson also said that on March 1, F. Warren Hellman, general partner of the investment banking firm Hellman & Friedman, will become chairman, a title Cohen also held.
BUSINESS
February 3, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
Federal prosecutors have given former stock speculator Salim B. (Sandy) Lewis immunity from further prosecution and are expected to force him to testify about any role that top officials of American Express Co. may have played in the 1986 manipulation of Fireman's Fund Corp. stock. Lewis pleaded guilty in August to three felony counts related to the incident. He was sentenced to three years on probation, fined $250,000 and ordered to perform community service at a drug rehabilitation center.
BUSINESS
January 31, 1990 | JAMES BATES, TIMES STAFF WRITER
Peter A. Cohen resigned Tuesday night as chief executive of Shearson Lehman Hutton Inc., the beleaguered Wall Street firm. He was replaced by Howard L. Clark Jr., chief financial officer for American Express Co., which owns 61% of Shearson. Shearson also said that on March 1, F. Warren Hellman, general partner of the investment banking firm Hellman & Friedman, will become chairman, a title Cohen also held.
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