January 24, 1992 |
Tisch Reportedly Interested in Buying Macy: R.H. Macy & Co. may have a last-minute solution to its financial woes. CBS Chairman Laurence A. Tisch, a Macy's director and shareholder, is said to be ready to invest about $1 billion to buy as much as a 90% stake in the ailing retailer, according to reports circulating in New York. Tisch's plan, which is awaiting approval by Macy's directors, calls for the retailer to file for bankruptcy and eliminate a sizable portion of the nearly $3.
August 29, 1991 |
Tisches Keep Bailing Out of Bank Stocks: CBS Inc. Chairman Laurence A. Tisch and his brother, Loews Corp. President Preston R. Tisch, have slashed their holdings in bank stocks again, according to Securities and Exchange Commission documents. They cut their stake in Bank of Boston Corp., Continental Bank Corp. and Baybanks Inc. to 5% or less. No reason was given. The Tisches gained attention on Wall Street late last year when they began buying low-priced bank stocks.