L H Friend Weinress Frankson Inc

An investment banking firm that caters to small- and mid-size companies ought to offer the full gamut of corporate-finance services because the full-service Wall Street houses aren't interested in handling smaller companies, says Larry H. Friend. His 7-year-old Irvine firm has worked on deals ranging from the $4-million financing for Wolfgang Puck Food Co. to the $225-million leveraged buyout of Dallas Corp. He spoke with Times staff writer James S.

Four top executives of L.H. Friend, Weinress, Frankson & Presson Inc. said they have purchased the Irvine investment banking firm from parent Olympic Cascade Financial Corp. Financial terms were not disclosed. The investment group is led by Gregory E. Presson, chairman and chief executive of L.H. Friend; Vice Chairman Stephen D. Weinress; President Carl E. Frankson; and Patrick S. Bannister, chief financial officer and chief operating officer.

Four top executives of L.H. Friend, Weinress, Frankson & Presson Inc. said they have purchased the Irvine investment banking firm from parent Olympic Cascade Financial Corp. Financial terms were not disclosed. The investment group is led by Gregory E. Presson, chairman and chief executive of L.H. Friend; Vice Chairman Stephen D. Weinress; President Carl E. Frankson; and Patrick S. Bannister, chief financial officer and chief operating officer.

Two broker-dealers and their Irvine brokerage were fined $30,000 for allegedly violating trading rules in selling a company's initial public offering four years ago. Larry H. Friend, Stephen D. Weinress and their company, L.H. Friend, Weinress, Frankson & Presson Inc., did not admit the allegations against them in agreeing to the sanctions imposed by NASD Regulation Inc., the enforcement arm of the National Assn. of Securities Dealers.

Two Irvine investment banks are joining forces to participate in larger financings, but both say they will continue raising capital for biomedical and other small technology companies. Michael Danzi, president of Danzi Capital Group, an investment bank formed a year ago, is joining L.H. Friend, Weinress & Frankson Inc. and taking his five-person staff with him. Danzi will be managing director of a new wholly owned division called L.H. Friend-Danzi Capital Partners, company officials said.

Stephen Weinress, an analyst for L.H. Friend, Weinress & Frankson Inc. of Irvine, has withdrawn his "buy" recommendation on Mercer International after questioning the company's accounting and disclosure practices. Weinress said in a report to investors this week that Mercer owes them an explanation of a $14-million trading loss and its method for calculating operating earnings from its paper mills. He is the only analyst who has followed the company closely in recent months.

Two broker-dealers and their Irvine brokerage were fined $30,000 for allegedly violating trading rules in selling a company's initial public offering four years ago. Larry H. Friend, Stephen D. Weinress and their company, L.H. Friend, Weinress, Frankson & Presson Inc., did not admit the allegations against them in agreeing to the sanctions imposed by NASD Regulation Inc., the enforcement arm of the National Assn. of Securities Dealers.

Golden Systems Inc., a Simi Valley producer of power supplies for personal computers that recently completed its initial public stock offering, has sold an additional 250,000 common shares as part of an underwriter's over-allotment option. The proceeds totaled $1.7 million. Golden Systems issued 2.5 million shares last month at $7 per share. The additional shares have been sold at the same price to the firm's managing underwriters, Wedbush Morgan Securities and L. H.

Two Orange County investment banking companies that acted for awhile as if they wanted to merge now say they will continue to work together through a joint venture but have no intention of becoming one company. Larry Friend and Michael Danzi said their companies will work on major deals, like the effort to sell a minority shareholder's stock in the Irvine Co., through a division of L.H. Friend, Weinress & Frankson Inc. But Friend and Danzi said each company will continue to operate separately.

Stephen Weinress, an analyst for L.H. Friend, Weinress & Frankson Inc. of Irvine, has withdrawn his "buy" recommendation on Mercer International after questioning the company's accounting and disclosure practices. Weinress said in a report to investors this week that Mercer owes them an explanation of a $14-million trading loss and its method for calculating operating earnings from its paper mills. He is the only analyst who has followed the company closely in recent months.

Two Irvine investment banks are joining forces to participate in larger financings, but both say they will continue raising capital for biomedical and other small technology companies. Michael Danzi, president of Danzi Capital Group, an investment bank formed a year ago, is joining L.H. Friend, Weinress & Frankson Inc. and taking his five-person staff with him. Danzi will be managing director of a new wholly owned division called L.H. Friend-Danzi Capital Partners, company officials said.

An investment banking firm that caters to small- and mid-size companies ought to offer the full gamut of corporate-finance services because the full-service Wall Street houses aren't interested in handling smaller companies, says Larry H. Friend. His 7-year-old Irvine firm has worked on deals ranging from the $4-million financing for Wolfgang Puck Food Co. to the $225-million leveraged buyout of Dallas Corp. He spoke with Times staff writer James S.

Entrepreneur Group Inc.--publisher of Entrepreneur and other business magazines--could become a publicly traded company early next year and issue up to $10 million in stock, investment banking sources said Monday. Entrepreneur Chairman Peter Shea acknowledged that he is discussing the possibility of taking the company public with the investment banking firm of L.H. Friend, Weinress & Frankson Inc. in Irvine.

Vans Inc.'s stock dropped 18% in heavy trading Tuesday after a major San Francisco brokerage lowered its rating of the stock from "buy" to "hold." The decline prompted other analysts to recommend the stock of Vans, an Orange company that makes casual shoes, as a bargain at the lower price, given what they view as the company's long-term growth potential. In Tuesday's trading on the NASDAQ market, Vans shares lost $2.25 apiece to close at $10.25 after Montgomery Securities analyst Alice A.