May 6, 1994 |
When you're trying to sell something, but the bids are coming in dismally low, it helps to get a few more opinions. That strategy has worked beautifully for Los Angeles-based brokerage Jefferies Group this year. Unable to attract many buyers to its stock, even though the price was less than seven times earnings, Jefferies in March decided to spin out its crown jewel technology unit as a separate entity. On Wednesday, 3.7 million shares in Jefferies' Investment Technology Group Inc.
March 25, 1987
The Securities and Exchange Commission accounting dispute with Jefferies Group Inc. could have reduced its fourth-quarter profit, the company said. The announcement followed company chairman Boyd L. Jefferies' agreement to plead guilty to two felony charges stemming from his stock dealings and to cooperate with authorities investigating wrongdoing by others. Frank Baxter, who took over as head of Jefferies, said Monday's decision by the SEC was unrelated to Boyd Jefferies' actions last week.
December 13, 1985
Ronald A. Alghini, president and chief operating officer of Jefferies Group Inc., will resign those posts on Jan. 2 "to pursue other business interests," the Los Angeles-based securities firm announced Thursday. Frank E. Baxter, an executive vice president in charge of Jefferies' London subsidiary, is expected to replace Alghini as president, the firm said. Alghini, who served as president since 1980, could not be reached for comment.
October 10, 1997 |
The National Assn. of Securities Dealers appointed six new board members, including senior executives from Merrill Lynch & Co., PaineWebber Group Inc., Aluminum Co. of America and Starbucks Coffee Co. NASD said 15 directors who leave as their terms expire will not be replaced as part of a restructuring of its board. In June, the NASD board approved a plan to shrink the number of board members to 27 from 48 in an effort to streamline decision-making.
November 19, 1986 |
Gillette Co., which is trying to block a takeover by investor Ronald O. Perelman, said today that it has subpoenaed records of a number of Wall Street firms in an attempt to establish alleged insider trading links to Perelman. In the action at U.S. District Court in Boston, Gillette sought information from a number of arbitrageurs, which are investment firms that invest in takeover stocks. Included was Boesky & Co., whose chairman, Ivan F.
May 25, 2010 |
Stock markets plunged this morning with fears about the European economy and a Korean military confrontation driving the Dow Jones industrial average below 9900. The Dow had fallen 2.2%, or 217.80 points, at mid morning and other indexes fell even more sharply. The Nasdaq composite index was down 2.37% or 52.56 points to 2160.99. The rough opening came in the middle of a tumultuous day of trading in Europe and Asia. Fears about the health of the European Union's economy were stoked when four Spanish banks announced late Monday that they were planning to merge just a few days after the Spanish government bailed out another leading Spanish bank.
November 10, 1992
Cherokee Inc., a struggling apparel maker based in Sunland, said it failed to make an $8.2-million interest payment due on $105 million of junk bonds it has outstanding. The company previously had said it might not make the payment, which was due Nov. 1, because the payment might further deteriorate its balance sheet. Cherokee, meanwhile, is negotiating with holders of the junk bonds--known formally as senior subordinated notes that cost Cherokee 15.
March 6, 1995 |
David L. Griffith, an eight-year veteran of Tandberg Data Inc., has been promoted to president and chief executive of the Simi Valley-based firm. Prior to his being named president, Griffith was vice president, sales and marketing, where he was responsible for the company's TDC product line focusing on original-equipment manufacturer markets. Griffith succeeds Per Otto Dyb, who left the company.