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John J Schmidt

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BUSINESS
April 21, 1987 | NANCY RIVERA BROOKS, Times Staff Writer
John J. Schmidt, the tenacious chief of Santa Fe Southern Pacific who has led the four-year fight to merge the company's two railroads, has resigned as chairman and chief executive of the Chicago company, it was announced Monday. Schmidt's surprising resignation on Easter Sunday, "to pursue other interests of a consulting and entrepreneurial nature," left analysts confused, especially given the holiday timing.
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BUSINESS
April 21, 1987 | NANCY RIVERA BROOKS, Times Staff Writer
John J. Schmidt, the tenacious chief of Santa Fe Southern Pacific who has led the four-year fight to merge the company's two railroads, has resigned as chairman and chief executive of the Chicago company, it was announced Monday. Schmidt's surprising resignation on Easter Sunday, "to pursue other interests of a consulting and entrepreneurial nature," left analysts confused, especially given the holiday timing.
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BUSINESS
June 21, 1985
The railroad company's directors authorized a plan to repurchase 30 million shares of its common stock, in addition to a 20-million-share buy-back begun last year. The repurchase, which may not be completed until 1986, will be funded partly from the future sale of assets that don't fit the company's development plan, Chairman John J. Schmidt said.
BUSINESS
April 1, 1990
Garbled adages and mixed metaphors are always fun, like in "A stitch in time saves a pound of cure." They sound like they should make sense, but they really don't. Gracie Allen used to be pretty good at it. In "Perrier Crisis No Watershed for Evian," Feb. 27, an Evian spokesperson says, "We know the shoe could always fall on the other foot." Gracie would have liked that one. JOHN J. SCHMIDT Sherman Oaks
BUSINESS
October 10, 1986
Santa Fe Southern Pacific Chairman John J. Schmidt said the company is "pleased" that the Interstate Commerce Commission granted the company 60 days to prepare a petition asking the ICC to reconsider its decision to block the merger of its two railroads, the Santa Fe Railway and the Southern Pacific Railroad. At the same time, the ICC denied the company's request that it delay issuing its written decision in the merger case, which is scheduled to be released in mid-October.
BUSINESS
April 18, 1986 | JONATHON PETERSON
Santa Fe Southern Pacific Corp. on Thursday reported sharply lower net income for the first quarter, citing expenses from its voluntary severence program. The company posted earnings of $29.7 million for the quarter, down from $61.6 million a year ago. Chairman John J. Schmidt said the lower earnings were caused by $38.8 million in expenses for voluntary severance programs for railway employees. The results also reflected lower operating income from petroleum and real estate operations.
BUSINESS
September 4, 1986 | Associated Press
Santa Fe Southern Pacific Corp. has agreed to sell its timber subsidiary, Kirby Forest Industries, to Louisiana-Pacific Corp. for $315 million, the firms announced Wednesday. The move requires the approval of the boards of both companies, the Federal Trade Commission and the Justice Department. The sale also is contingent on both sides reaching a final purchase agreement. "Kirby is having a good year," said John J.
BUSINESS
July 18, 1985
Santa Fe Southern Pacific said its second-quarter income dropped 16.5% from a year ago, and company officials cited "disappointing" results from its railroad operations. The Chicago-based transportation company said it earned $119.3 million for the quarter ended June 30, compared to profit of $143 million in the second quarter of 1984. Revenue for the three-month period was $1.6 billion, down less than 4% from revenue of almost $1.7 billion in the year-ago quarter.
BUSINESS
August 28, 1986 | Associated Press
Santa Fe Southern Pacific Corp. said Wednesday that it will ask the Interstate Commerce Commission to delay issuing its written decision rejecting the proposed merger of Santa Fe and Southern Pacific railroads. The railroads' parent companies already have merged, but, in a surprise decision, the ICC voted last month to recommend against merging the two railroads. That decision would force the new Santa Fe Southern Pacific holding company to sell one railroad.
BUSINESS
November 9, 1986
Having witnessed a Bloody Tuesday on the wrong side of a corporate takeover, my reaction to John F. Lawrence's Oct. 26 column (Why Golden Parachutes Are Fool's Gold) is, "right on." The chairman and president of our then-parent company took about $4 million in cash out of the deal. Most of the 200 employees who were fired received one or two weeks' pay plus one week's pay for each full year of service up to eight.
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