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BUSINESS
August 11, 1999 | Bloomberg News
San Diego-based Burnham Pacific Properties Inc., the target of an unsolicited $1.2-billion buyout offer, gave its top five executives "golden parachute" compensation packages that would be triggered if the company is taken over. On June 30, the San Diego-based real estate investment trust agreed to pay the executives a lump sum of three times their annual salary and three times their annual bonus if a takeover occurs, according to a filing with the Securities and Exchange Commission.
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BUSINESS
June 8, 1999 | From Reuters
A group holding an 8.2% stake in San Diego-based shopping center owner Burnham Pacific Properties Inc. has offered to acquire control of the company, according to regulatory documents filed Monday. The group, led by real estate investor Jay Schottenstein, currently holds 2.6 million common shares and seeks to acquire all shares of Burnham it does not already own for $13 a share in cash, the Securities and Exchange Commission filing said.
BUSINESS
July 27, 1999 | From Bloomberg News
Burnham Pacific Properties Inc., the largest strip shopping center real estate investment trust on the West Coast, rejected an unsolicited $1.2-billion buyout offer from retailer and property investor Jay Schottenstein. The rejection comes two weeks after Schottenstein, the chairman and majority owner of Value City Department Stores Inc., raised his bid for the San Diego-based company to $13.50 a share from $13. He also would assume debt.
BUSINESS
June 8, 1999 | From Associated Press
A retailer that owns 8.2% of San Diego-based Burnham Pacific Properties Inc. has offered to buy the rest of the real estate investment trust's stock for $13 a share. Documents filed Monday with the Securities and Exchange Commission details Columbus-based Schottenstein Stores Corp.'s proposed acquisition of Burnham Pacific for $565 million. Schottenstein also would assume $576 million in Burnham Pacific debt.
BUSINESS
July 14, 1999 | From Bloomberg News
Retailer and property investor Jay Schottenstein on Tuesday raised his unsolicited all-cash bid for Burnham Pacific Properties Inc. to $13.50 a share from $13, valuing the shopping center real estate investment trust at about $1.2 billion. In a letter sent to San Diego-based Burnham, Schottenstein complained that despite repeated requests, the company and its advisors have refused to meet with him about the bid. Schottenstein, the chairman and majority owner of Value City Department Stores Inc.
BUSINESS
January 23, 2014 | By Tiffany Hsu
The stock of American Eagle Outfitters Inc. slumped Thursday in the wake of the abrupt resignation of the retailer's chief executive, Robert Hanson, who had held the post for almost two years. The teen apparel merchant said late Wednesday that Executive Chairman Jay L. Schottenstein, who was chief executive from March 1992 to December 2002, will temporarily fill the post. The company said it would start looking for a permanent replacement. Executive Creative Director Roger S. Markfield, who is also vice chairman, agreed to delay his planned retirement and continue in his roles, according to American Eagle.
BUSINESS
August 1, 2000 | BRAD BERTON, SPECIAL TO THE TIMES
At a time publicly traded real estate investment trusts are bouncing back on Wall Street, one of the oldest REITs--which shares its name with one of San Diego's best-known real estate dynasties--appears to be fading fast.
BUSINESS
October 10, 1999 | LESLIE EARNEST and E. SCOTT RECKARD, TIMES STAFF WRITERS
Wherever there's a deal in the works, Marvin J. Winkler can't be far behind. Heard about that group led by Broadcom techno-billionaires Henry Samueli and Henry Nicholas to buy Walt Disney's Angels and Mighty Ducks? Winkler is part of it. Nicholas and Samueli's new-media start-up hoping to meld the Internet and TV? Winkler is chairman. The indoor snowboard and surf park in Anaheim? The 44-year-old Winkler is behind the $100-million effort to finance it.
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