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New York merchant banker Kelso & Co. will acquire and merge two independent distributors of metal products--the Lynwood-based Earle M. Jorgensen Co. and the Brea-based Kilsby-Roberts Holdings Inc.--under an agreement announced Tuesday. Kelso, which already owns about 5% of privately held Kilsby-Roberts, will pay $75 million for the remainder of Kilsby-Roberts and $261 million--$41.50 per share--for Jorgensen.
August 8, 2006 | Bob Mieszerski, Times Staff Writer
No horse will ever accomplish what Kelso did. Owned by Allaire du Pont, Kelso was a five-time horse of the year before his retirement in 1966. He won 39 of 63 starts and retired as the richest horse in history with earnings of $1,977,196 -- a record that stood until Affirmed surpassed him more than a decade later as prize money grew. Kelso, who died in 1983, was elected into racing's Hall of Fame in 1967. On Monday, Carl Hanford, his trainer, joined him.
January 24, 2008 | Michael Rothfeld, Times Staff Writer
A federal judge Wednesday abruptly fired the man he had appointed to fix the multimillion-dollar problems of medical care in the state's prisons, after determining the effort was moving too slowly and in too confrontational a manner. U.S. District Judge Thelton Henderson revoked the power he had given Robert Sillen and handed it to J. Clark Kelso, a lawyer with experience turning around government institutions in crisis.
Last week a big framed photo of a smiling Insurance Commissioner Chuck Quackenbush dominated the Department of Insurance headquarters waiting room. On Monday there hung a mauve-and-blue watercolor print too small to hide one of the nail holes left in the wall. Familiar faces were missing, too, a few steps away in the wood-paneled conference room where the department's chiefs huddle every Monday morning.
September 20, 2005 | Jerry Schad, Special to The Times
"EEEEOOOWW!!" Geralynn topples over, cross-country skis and limbs tangled. Lisa and I, plodding forward in step-up-and-slide-down fashion, are catching up to her fast. The rising summer solstice full moon illuminates the scene for what we -- me and friends Geralynn Felicetta and Lisa Tibolet, all of La Mesa -- are trying to accomplish: "skiing" on the summit ridge of Kelso Dunes, the second tallest in California. No mere sand pile is this.
Asked to single out some of the 200-plus stakes wins that have meant the most during a distinguished career, trainer Allen Jerkens quickly mentioned Beau Purple's victory in the Suburban Handicap in 1962. "That was the first time I won a $100,000 race," Jerkens said. It was also one of three times that Beau Purple beat the great Kelso in 1962-63.
March 1, 1987 | John Rothchild, Rothchild's lighthearted look at investing, "A Fool and His Money," will be published in 1987 by Viking Press
These ESOPS have nothing to do with the fox and the grapes. They're Employee Stock Ownership Plans. Dull topic, I would have agreed, but the Kelsos' book delivers a lot more than it promises. Under their ESOP banner, the authors take on Keynesians, Calvinists, Marxists, Republicans, Democrats, the union movement, standard loan applications, bankers, Friedmanites and conventional bookkeeping.
October 18, 2010 | By Louis Sahagun, Los Angeles Times
With a horn blast and a whoosh of air brakes, a special train carrying 254 rail fans, civic leaders and adventure seekers rolled out of Barstow on Sunday morning with a goal of reviving interest in passenger rail service across the Mojave Desert. The train was the Kelso Flyer, six vintage cars pulled by an Amtrak engine between Barstow and a remote mission-style depot in the heart of the 1.6-million acre Mojave National Preserve. As it gathered speed, passengers settled into lounge and observation cars with sleek, Art Deco-style interiors for the 90-minute ride.
May 23, 2011 | By Nicholas Riccardi and Michael Muskal, Los Angeles Times
The city of Joplin was changed from a typical small Missouri city into a zone of frenzied effort after Sunday's tornado as rescuers raced bad weather and coped with a shortage of supplies. At least 116 people were killed in the tornado, and the toll is expected to rise. Joplin City Manager Mark Rohr announced the latest death toll at a Monday afternoon news conference, according to the Associated Press. Rohr said seven people had been rescued. By midmorning Monday, about 20 hours after the tornado tore a six-mile wound in the heart of the city, residents searched through the rubble in what reminded many of a war zone.
January 31, 2011 | By Sam Farmer
Backers of a plan to build a football stadium in downtown Los Angeles are set to announce Tuesday that they have reached a naming-rights deal worth $700 million, which would be the most valuable such agreement ever and a significant step toward bringing an NFL team to Los Angeles. AEG, the huge entertainment company that, among other holdings, owns Staples Center and the L.A. Live complex, plans to announce a 30-year agreement with Farmers Insurance. The deal would provide AEG's proposed project a crucial chunk of contractually obligated income, starting at $20 million for the first year and escalating incrementally every year after, according to individuals familiar with the negotiations but not involved in them.
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