April 2, 1997 |
Atlantic Richfield Co. said Tuesday that it is considering withdrawing from the coal mining business to focus on its main business of petroleum production, refining and retail fuel sales. Los Angeles-based Arco's coal assets totaled $1.75 billion worldwide at the end of 1996. The assets are concentrated in the U.S., where Arco is the fourth-largest coal producer, and in Australia.
May 28, 1998 |
Bored with roller coasters that don't go fast enough or cartoon characters that are just a tad too cute? Then how about a theme park where you get to race around in the latest cars that Japan's biggest auto maker has to offer? Toyota Motor Corp. said Wednesday it will launch an automobile theme park as part of a new commercial and entertainment complex at a Tokyo waterfront site next year. The Tokyo Waterfront ST Block project is scheduled to open in the spring of 1999.
December 2, 1993 |
Time Warner Inc. and Playboy Enterprises Inc. are expected to disclose today a joint venture creating Playboy Audio, a company that will sell audio cassettes and compact discs containing erotic fiction and other programs. In a separate Time Warner deal, the media and entertainment giant said it has agreed to buy 16.67% of New York-based Teleport Communications Corp., which provides fiber-optic telecommunications services to business. Terms were not disclosed.
September 18, 2012 |
Dole Food Co., the giant fruit and vegetable seller based in Westlake Village, sold two major portions of its business to Japanese trading behemoth Itochu Corp. as it tries to pare down its operations. The $1.7-billion cash deal involves Dole's worldwide packaged foods division and its Asia fresh produce segment. Itochu will gain control of products including canned pineapple, fruit juice concentrate, bagged salads, frozen produce, fruit parfaits and more. The Asia fresh produce branch grows, ships and distributes the goods from farms, factories and more in the region.
July 16, 1997 |
General Motors Corp. drove to the top spot in Fortune magazine's list of the world's 500 biggest companies, fueled by a wave of restructurings that also lifted archrival Ford Motor Co. to No. 2 in revenue, the magazine said. GM, with $168.4 billion in fiscal 1996 revenue, and Ford, with nearly $147 billion, displaced the Japanese trading giants that have led the Fortune Global 500 for the past two years, the magazine said in its Aug. 4 issue, which appears on newsstands Monday.
February 28, 1998 |
Moving to get rid of some lumps of coal, Los Angeles-based Atlantic Richfield Co. said Friday that it is in exclusive talks to sell its six U.S. coal-mining operations to Beacon Group. The deal, valued by analysts at between $1 billion and $1.5 billion, is the latest in a series of efforts by energy companies to divest their coal operations and to focus instead on more-profitable oil and natural gas holdings.
October 20, 1993 |
Underscoring Wall Street's love affair with multimedia, Burbank-based Iwerks Entertainment went public this week and on its very first day of trading the stock rose a staggering 86%. The offering's overwhelming popularity reflects the investment community's enthusiasm for small entertainment technology stocks at a time when corporate giants such as cable operator Tele-Communications Inc. and Bell Atlantic Corp. are promising a new entertainment future based on technical progress.
May 8, 2003 |
Legendary songwriters Jerry Leiber and Mike Stoller plan to stand by the catalog of hits they've written during their five decades in the music business, but they've auctioned the rest of their holdings. Leiber and Stoller, the composers of such classics as "Stand by Me" and "Jailhouse Rock," agreed to sell their Trio and Quartet music catalogs, which include nearly 20,000 titles by other songwriters, to independent music publisher Windswept Classics and trading giant Itochu Corp.
June 7, 1994 |
Minoru (Jack) Murofushi, president of Itochu Corp., made an offbeat request last January in his annual New Year's speech to staff: He asked the huge trading firm's employees to clean their desks. "Don't simply clear out unwanted items . . . but instead take a more radical approach," he urged. "Empty the contents of your desk onto the floor, and then pick out only those things which will be useful in bringing profits in the future." Itochu itself--known outside Japan until 1992 as C. Itoh & Co. Ltd.--would take the same approach, Murofushi, 62, declared.