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NEWS
September 7, 1998 | DEBORA VRANA, TIMES STAFF WRITER
Here at the Century Plaza Hotel, where corporate raiders once paid homage to a junk bond king, hundreds of eager schoolteachers now await an audience with the same man: Michael Milken. Unlike those financiers, these teachers have little interest in the old Milken, the Encino native who revolutionized Wall Street and served time in prison for securities fraud.
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BUSINESS
July 25, 2002 | Bloomberg News
LeapFrog Enterprises Inc., a maker of educational toys backed by Michael Milken and Larry Ellison, raised $117 million Wednesday in an initial public offering. LeapFrog sold 9 million shares at $13 each, at the bottom of the $13-to-$16 range the company had indicated. Merrill Lynch & Co. and Citigroup Inc.'s Salomon Smith Barney managed the sale. The IPO comes amid a stock market slump that has limited sales of new equity.
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BUSINESS
March 31, 1998
* San Rafael-based Children's Discovery Centers of America Inc. said it agreed to be acquired by closely held Knowledge Universe for as much as $99.1 million in cash, as Knowledge Universe expands its educational services to children from infancy through eighth grade. * San Francisco-based California Federal Bank said that it had signed an agreement to sell its Florida bank franchise to the Florida unit of Union Planters Corp. for $110 million.
CALIFORNIA | LOCAL
July 23, 2001 | From the Baltimore Sun
Arthur F. Davidsen, astrophysicist whose experiments aboard rockets and the space shuttle were fundamental in fathoming the structure of the universe, has died. He was 57. Davidsen, who made his Johns Hopkins University a world leader in the field of astronomy, died Thursday in Baltimore of complications from a lung disorder.
BUSINESS
September 25, 1998 | From Bloomberg News
Nextera Enterprises Inc., a consulting firm controlled by former junk-bond king Michael Milken's and Lawrence Ellison's Knowledge Universe, has filed for an initial public offering that could raise as much as $87 million. Founded in February 1997, Nextera has grown rapidly through acquisitions. The firm had pro forma combined 1997 revenue of $76.5 million, though it lost $7.4 million, according to its IPO filing with the Securities and Exchange Commission.
BUSINESS
July 25, 2002 | Bloomberg News
LeapFrog Enterprises Inc., a maker of educational toys backed by Michael Milken and Larry Ellison, raised $117 million Wednesday in an initial public offering. LeapFrog sold 9 million shares at $13 each, at the bottom of the $13-to-$16 range the company had indicated. Merrill Lynch & Co. and Citigroup Inc.'s Salomon Smith Barney managed the sale. The IPO comes amid a stock market slump that has limited sales of new equity.
CALIFORNIA | LOCAL
July 23, 2001 | From the Baltimore Sun
Arthur F. Davidsen, astrophysicist whose experiments aboard rockets and the space shuttle were fundamental in fathoming the structure of the universe, has died. He was 57. Davidsen, who made his Johns Hopkins University a world leader in the field of astronomy, died Thursday in Baltimore of complications from a lung disorder.
BUSINESS
October 21, 1997 | Reuters
Cadence Design Systems Inc. said Joe Costello resigned as chief executive of the computer chip engineering firm to join Knowledge Universe, an educational technology company partly owned by former junk-bond financier Michael Milken. Costello, 43, who has received much of the credit for building Cadence into a chip-design software powerhouse, will be replaced, effective immediately, by Jack Harding, 42, the former CEO of a company Cadence acquired earlier this year.
BUSINESS
January 27, 1998 | From Bloomberg News
An education company backed by Michael Milken and Oracle Corp. Chairman Lawrence Ellison delved into the elementary school arena by taking a 21.2% stake in a Pennsylvania school operator. Knowledge Universe and several affiliates reported the purchase of 1.28 million common shares of Nobel Education Dynamics Inc. of Media, Pa., in a regulatory filing, saying they may eventually seek a majority stake.
BUSINESS
March 5, 2003 | From Bloomberg News
Aramark Corp., operator of Children's World Learning Centers, agreed to sell its Educational Resources unit to former junk bond king Michael Milken's Knowledge Learning Corp. to exit the child-care business. Aramark is selling the division for $225 million in cash and $40 million in a subordinated note, the Philadelphia-based company said. The education unit had $455.8 million in annual sales, accounting for 5.2% of Aramark's revenue. Thomas Heymann, the former president of Disney Store Inc.
BUSINESS
September 25, 1998 | From Bloomberg News
Nextera Enterprises Inc., a consulting firm controlled by former junk-bond king Michael Milken's and Lawrence Ellison's Knowledge Universe, has filed for an initial public offering that could raise as much as $87 million. Founded in February 1997, Nextera has grown rapidly through acquisitions. The firm had pro forma combined 1997 revenue of $76.5 million, though it lost $7.4 million, according to its IPO filing with the Securities and Exchange Commission.
NEWS
September 7, 1998 | DEBORA VRANA, TIMES STAFF WRITER
Here at the Century Plaza Hotel, where corporate raiders once paid homage to a junk bond king, hundreds of eager schoolteachers now await an audience with the same man: Michael Milken. Unlike those financiers, these teachers have little interest in the old Milken, the Encino native who revolutionized Wall Street and served time in prison for securities fraud.
BUSINESS
March 31, 1998
* Broderbund Software Inc. said it fired 70 employees, or 6.4% of its 1,100-person worldwide work force, to cut costs as the expense of marketing its popular "Riven" fantasy game rose more than expected. Most of the positions will be eliminated at the firm's Novato headquarters and Petaluma and Mountain View offices, said Eric Winkler, senior marketing manager for the education- and entertainment-software maker. Broderbund shares fell $1.75 to close at $18.88 on Nasdaq.
BUSINESS
February 3, 1998 | Greg Miller
Cad.Lab Inc., an Italian producer of software used in mechanical design, appointed Joseph B. Costello managing director and chairman of its board. Just three months ago, Costello resigned as chief executive of Cadence Design Systems Inc. to join Knowledge Universe, an education technology firm partly owned by former junk bond financier Michael Milken. "It was a case of misalignment," Costello said. "What I wanted to do and what Milken felt he needed were a little different."
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