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CALIFORNIA | LOCAL
April 16, 2008 | Christian Berthelsen
The Orange County treasurer's office has taken an $11-million write-down on the value of an $80-million investment in a complex fund, a decrease of nearly 14%, according to a county treasury report issued Tuesday. The fund, a structured investment vehicle called Whistlejacket LLC, went into default in February and has been forced into receivership. County treasury officials said the lower pricing on the investment is a conservative estimate of what the securities would currently fetch on the market in a distress sale, but that they expect eventually to recover the full value of their investment, which is scheduled to mature in January.
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BUSINESS
July 18, 2000
IncuVest, a New York-based developer of technology companies, has made a $5-million investment in Ethentica Inc., a Lake Forest provider of electronic authentication products, the companies said Monday. The investment was in preferred stock.
CALIFORNIA | LOCAL
March 24, 2014 | By James Rainey
With city budget managers intent on limiting new spending and reining in employee benefits, a coalition of union and political groups is fighting back with a report that suggests Los Angeles City Hall is spending too much on Wall Street and not enough on Main Street. The Fix L.A. Coalition, which is made up of union and liberal political groups, plans to release a report Tuesday that suggests the city could substantially reduce the $204 million in bank and money management fees that it paid last year to Wall Street firms.
BUSINESS
December 22, 1997 | Associated Press
German chemical maker Bayer has dropped plans to build a $1.48-billion plant in Taiwan, but the island nation said it is expecting other overseas companies to invest $1.5 billion next year. U.S., French, Swiss and German firms are planning up to 11 large investments, the Economics Ministry said. It said details would remain confidential until deals were signed. Bayer's announcement Friday came after 18 months of delays and a county-government decision to subject the plant to a public referendum.
BUSINESS
April 30, 1997 | (Bloomberg News)
Daewoo Corp. said it will increase its investment in Poland to up to $2.2 billion by 2001 and double its planned car production to 550,000 a year. Under Daewoo's previous plan, the South Korean company was to invest $1.5 billion in Poland. "We are proving we are not only able to keep our promise, we are making efforts to go much further than the promise," J.C. Suk, president of Daewoo's car venture in Poland, Daewoo-FSO, said at a news conference.
BUSINESS
September 28, 2010 | By Ben Fritz, Los Angeles Times
Hong Kong movie company Orange Sky Golden Harvest Entertainment has made a minority investment of $25 million in Legendary Pictures in a deal that will enable the Hollywood film financing and production company to move into the Chinese market. Founded in 1970, Orange Sky has produced and financed more than 600 movies and operates 29 multiplexes with 229 screens in China, Hong Kong, Taiwan and Singapore. In a regulatory filing, the company said it made the strategic alliance, which gives it 3.3% of Legendary's common stock, to explore opportunities to co-produce local language films and produce video games.
BUSINESS
November 18, 1999
Nexgenix Inc., an electronic business consulting firm in Irvine, said Tuesday that it has received a $20-million investment from Redpoint Ventures, a new venture capital firm with a $600-million fund.
CALIFORNIA | LOCAL
April 1, 1992
Torrance officials disclosed Monday that a $1-million investment has been deemed illegal by city attorneys, adding to the financial woes of a city already stung by the disappearance of $6.2 million in another investment. The $1-million investment in an insured loan program known as American Insured Mortgage Investors-88 was made four years ago by Torrance Treasurer Thomas C. Rupert, who has repeatedly defended the investment as sound and legal.
REAL ESTATE
July 7, 1985
A 194,000-square-foot industrial building at 10511 Valley Blvd., El Monte, has been purchased as an investment by Cal Fed Syndications of Los Angeles for $5.8 million. The transaction was negotiated by the Seeley Co. for the buyer and the seller, the 10511 Valley Partnership.
NEWS
October 11, 1986 | United Press International
The Southern Illinois University Foundation has severed its investment ties with South African businesses, foundation officials have announced. A report will be made to the foundation's board of directors that divestiture is complete, Anne Carman, president of the foundation that serves the Carbondale campus, said Thursday.
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