December 8, 1987 |
Conceding that it can't be the full service investment firm that its management had hoped to become, L. F. Rothschild Holdings Inc. announced Monday that it will lay off about 625 employees in a major restructuring. The decision comes a year after the firm's best known partners resigned in a feud over the company's direction.
February 23, 1988 |
The October stock market crash claimed another victim Monday as L. F. Rothschild Holdings, a once high-flying brokerage firm, agreed to be merged into a unit of Franklin Savings, an Ottawa, Kan., savings and loan. Rothschild, which was founded in 1899 and is not related to the European banking dynasty of the same name, had been plagued with management upheaval and was struggling for survival even before Black Monday, Oct. 19.
October 28, 1987 |
Silicon Systems' board of directors authorized the repurchase of up to 500,000 shares, or about 8% of its common stock outstanding, over the next 90 days. The company is the latest of 12 Orange County firms that have instituted buyback programs since the Oct. 19 crash sent stock prices plummeting. Depending on market conditions, Silicon Systems said, it will acquire the shares in the open market or through privately negotiated transactions.
December 29, 1989 |
L. F. Rothschild Holdings Inc., parent of a respected Wall Street brokerage crushed in the 1987 stock market crash, said Thursday that it had reached agreement with creditors on a bankruptcy court reorganization plan. The plan, which needs approval by the U.S. Bankruptcy Court, restructures $101 million in debt on which the parent of L. F. Rothschild & Co. defaulted in June.