March 6, 1991 |
The brokerage firm Janney Montgomery Scott, which fired a stock analyst for his controversial remarks about Donald J. Trump, said Tuesday that it had been ordered to pay the analyst $750,000 by a New York Stock Exchange arbitration panel. The Philaldelphia-based firm fired well-known analyst Marvin Roffman last March after he said the Trump Taj Mahal casino, then under construction, could face serious financial problems.
June 15, 1996 |
Frederick's of Hollywood May Go on the Block: The venerable lingerie retailer has retained the investment banker Janney Montgomery Scott Inc. to explore a possible sale of the stock held by a family trust that controls 50.2% of the company, or the sale of all of the stock or a merger. Other options include asset sales, a share repurchase, recapitalization or joint venture, the Los Angeles-based company said.
June 8, 1991 |
A stock analyst who lost his job at a Philadelphia brokerage after saying that Donald J. Trump's empire was built on shaky financial ground has settled a $2-million defamation suit he slapped on the developer for allegedly prompting his dismissal. Marvin Roffman--who was dismissed from Janney Montgomery Scott Inc. after the Trump flap--won $750,000 from his former employer three months ago in an arbitration suit.
March 29, 1990 |
Donald Trump received approval today from state gaming regulators to open the palatial $1-billion Taj Mahal Casino Resort, the developer's third casino in the famed resort city. The state Casino Control Commission voted unanimously to grant Trump a license. The New York developer also owns the Trump Plaza and the Trump Castle resorts. The property's grand opening next week will feature fireworks and a laser show.
January 14, 1991 |
Philadelphia officials scrambling for $150 million in loans to keep the city in business have been boosted by a promise of $37.5 million from state school employees. The board of the Public School Employees Retirement System agreed by a 6-1 vote to buy a quarter of the $150 million in notes that the city wants to sell to keep it solvent this fiscal year. Those who manage the $16-billion retirement fund expect to turn a hefty profit.
September 24, 1987 |
The bulk of the property that Santa Fe Southern Pacific will spin off to shareholders is located in California, the company said Wednesday. The Chicago-based company, which owns 1.3 million acres of land in California and 1.1 million in other states, announced Tuesday that it will spin off real estate worth $300 million next year into a new real estate investment trust as part of a restructuring.