June 18, 1991 |
The Supreme Court on Monday refused to block a $1.6-billion lawsuit against brokerage Kidder, Peabody & Co. over insider information allegedly given to convicted Wall Street figure Ivan F. Boesky. In other actions, the court: * Agreed to consider killing an antitrust lawsuit against Eastman Kodak Co. by companies that repair Kodak equipment. * Refused to squelch a Florida city's plan to operate a cable TV system in competition with a cable company.
October 4, 1994 |
Speculation mounted on Wall Street on Monday that General Electric Co. is getting Kidder, Peabody & Co. in shape to unload its retail brokerage operations. PaineWebber Group Inc. was rumored to be looking at the Kidder retail unit, which consists of about 1,300 retail brokers, securities analysts and traders. Traders also speculated that Travelers Inc., parent of broker Smith Barney Inc., might be interested as well. However, several Wall Street sources were highly skeptical of the rumors.
April 18, 1994 |
Wall Street brokerage Kidder Peabody said Sunday that it has fired the head of its government trading desk after the firm uncovered a scheme that created phantom trades. The brokerage, owned by General Electric Co., said that although the scheme had no impact on Kidder's cash position, it will result in a $210-million, after-tax, onetime, non-cash charge against first-quarter earnings, resulting in a loss for the period.
March 30, 1990 |
General Electric Co., the parent of the Wall Street brokerage Kidder, Peabody & Co., moved boldly to shore up the financial position of the brokerage Thursday by having another unit, GE Capital Corp., buy Kidder's troubled junk bond and bridge loan portfolio for $750 million in cash. As part of the transaction, which amounts to a recapitalization of Kidder, the brokerage will buy back stock held by employees for $51 million and thus boost GE's stake in Kidder to 100%.
October 14, 1987 |
Kidder, Peabody & Co. said Tuesday that it would cut back its municipal securities operations, one day after market leader Salomon Bros. Inc. announced that it would get out of the suddenly unattractive business altogether. Kidder, a unit of General Electric, said it would cut about 100 of the 280 jobs in the unit, but added that it would be able to find jobs elsewhere in the company for some of the employees.
February 10, 1990 |
The investment bank Kidder, Peabody & Co. is searching for a bidder to make an offer for the big Los Angeles-based life insurance holding company First Executive Corp., Wall Street sources said. Kidder, a unit of General Electric Co., until recently was one of First Executive's investment bankers. But Kidder is understood to be seeking a bidder on its own initiative. An official at First Executive confirmed that it no longer has an investment banking relationship with Kidder.
July 11, 1990 |
First Executive Corp., the troubled life insurance concern, agreed to turn over detailed financial information about the company to one of its largest shareholders, Rosewood Financial Partners. Texas-based Rosewood said it entered into a confidentiality agreement that will allow it to receive the data and thus help "determine the feasibility" of Rosewood's long-stated goal of bringing about a recapitalization or reorganization of First Executive.