L F Rothschild Co

L. F. Rothschild & Co. said Thursday that it has sold its New York brokerage operations to Oppenheimer & Co., marking the latest step in Rothschild's retrenchment after the stock market crash. Rothschild said the move was part of its strategy of concentrating on its areas of strength: fixed income, investment banking and equity and arbitrage. Terms of the transaction were not disclosed. Oppenheimer said Rothschild's 150 New York account executives would be invited to join Oppenheimer.

The gloom on Wall Street mounted Monday as L. F. Rothschild & Co. estimated its trading losses from the stock market crash at a huge $44 million and market analysts predicted that the losses suffered by the nation's stock brokerages will far outweigh the windfall in commissions from the past week's trading flood. "The increase in commissions is not even coming close to offsetting the hits these firms are taking," said Perrin Long, a veteran brokerage analyst for Lipper Analytical in New York.

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.

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.

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.

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.

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.

L. F. Rothschild & Co. said Thursday that it has sold its New York brokerage operations to Oppenheimer & Co., marking the latest step in Rothschild's retrenchment after the stock market crash. Rothschild said the move was part of its strategy of concentrating on its areas of strength: fixed income, investment banking and equity and arbitrage. Terms of the transaction were not disclosed. Oppenheimer said Rothschild's 150 New York account executives would be invited to join Oppenheimer.

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.

The gloom on Wall Street mounted Monday as L. F. Rothschild & Co. estimated its trading losses from the stock market crash at a huge $44 million and market analysts predicted that the losses suffered by the nation's stock brokerages will far outweigh the windfall in commissions from the past week's trading flood. "The increase in commissions is not even coming close to offsetting the hits these firms are taking," said Perrin Long, a veteran brokerage analyst for Lipper Analytical in New York.

L. F. Rothschild & Co. Inc. said today it has withdrawn as a primary dealer, making it the second institution in less than a week to defect from the exclusive club of bond dealers that trade directly with the government. Rothschild, a subsidiary of L. F. Rothschild Holdings Inc., said its departure, which will leave 44 primary dealers to trade with the Federal Reserve, is effective immediately. Scope of Decision Told Rothschild also said it will discontinue its U.S.

L. F. Rothschild Holdings, parent of a once-venerated Wall Street investment firm that suffered staggering losses from the 1987 stock market collapse, sought Friday to reorganize under Chapter 11 of the U.S. Bankruptcy Code. The filing for protection from creditors does not include L. F. Rothschild & Co., a registered broker-dealer that is Rothschild Holdings' principal subsidiary.