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BUSINESS
July 2, 1998 | From Times Staff and Wire Reports
Boeing Co. said Wednesday that it has largely overcome production bottlenecks that cost the aircraft manufacturer more than $2 billion and is delaying plans to lay off 12,000 workers. Boeing also said it will decide within a month whether to move additional production work to Long Beach, where the phaseout of three commercial jet programs threatens to decimate the work force in the next 18 months. "By about Aug.
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BUSINESS
July 2, 1998 | From Times Staff and Wire Reports
Boeing Co. said Wednesday that it has largely overcome production bottlenecks that cost the aircraft manufacturer more than $2 billion and is delaying plans to lay off 12,000 workers. Boeing also said it will decide within a month whether to move additional production work to Long Beach, where the phaseout of three commercial jet programs threatens to decimate the work force in the next 18 months. "By about Aug.
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BUSINESS
May 14, 1987
AST Research Inc. of Irvine has notified the Securities and Exchange Commission of its intentions to sell $50 million worth of convertible subordinated debentures, due 2007, to help finance the maker of computers and computer parts business operations. L.F. Rothschild, Unterberg, Towbin Inc. and Shearson Lehman Brothers Inc. are handling the underwriting, which is expected to take place late this month.
BUSINESS
June 24, 1998 | Bloomberg News
Hines Horticulture Inc. had a disappointing Wall Street debut Tuesday as its shares, which fetched $11 on Monday, closed unchanged in first-day trading. The Irvine-based company is one of the largest commercial nursery operations in North America. On Monday, the company sold 5.1 million shares at $11 each, 21% below the bottom of the expected range of $14 to $16 set by lead underwriter Lehman Brothers Inc. The offering raised $56.
NEWS
September 2, 1990 | United Press International
A grand jury Friday indicted Shearson Lehman Brothers Inc. and two former employees on securities fraud charges stemming from millions of dollars in customer losses in the stock market crash of 1987. In addition to the corporation, the 42 indictments handed up by a Cuyahoga County grand jury named Sheldon Strauss, a former account executive at Shearson's Cleveland office, and Stephen Weinberg, the former office manager.
BUSINESS
March 24, 1997
Shares of PairGain Technologies Inc. rose after Lehman Brothers Inc. upgraded the stock Friday from neutral to outperform. Analyst Tim Luke raised earnings estimates for the maker of digital telecommunications products to 78 cents a share from 76 cents for fiscal 1997 and increased his fiscal 1998 estimate to $1.03 a share from $1.00. PairGain shares rose $4.125, or 15.6%, to $30.50 per share.
BUSINESS
October 8, 1993 | From Times Staff and Wire Reports
Officials Reject Federal Muni Intervention: Local government officials who raise money through municipal bonds told a House panel that federal reforms aren't necessary, despite political contributions that have raised investors' hackles and congressional eyebrows. The House Energy and Commerce Committee's finance subcommittee was told that California Treasurer Kathleen Brown has stopped accepting contributions from individuals who participate in muni transactions.
NEWS
January 22, 1988 | Associated Press
Wall Street giant Shearson Lehman Brothers Inc. today suspended a controversial form of computer-driven trading in what it said was a response to concerns that the technique inflamed volatility on Black Monday. Shearson and its pending merger partner, E. F. Hutton Group Inc., said index-arbitrage program trading would be suspended for their own accounts beginning today, "in response to concerns expressed by clients that program trading may exacerbate market volatility."
NEWS
May 6, 1988 | Associated Press
The government today charged E. F. Hutton & Co. Inc. with conspiracy and laundering at least $532,000 for organized crime figures and businessmen who wanted to hide income from the Internal Revenue Service. U.S. Atty. Lincoln C. Almond said the company is expected to plead guilty at a hearing May 16 and faces a fine of $1.01 million. Two Hutton brokers were also named in the criminal information.
NEWS
July 9, 1987 | Associated Press
Charles Skibo resigned today as president of US Sprint Communications Co., one year after he took over a fledgling company that is gambling on a $2-billion fiber optic network to earn it a significant share of the nation's long-distance telephone business. Sprint had a pre-tax loss of $358 million in the last half of 1986 and a pre-tax loss of $242 million on revenue of $615 million in the first quarter of this year, including one-time charges.
NEWS
February 29, 1988 | Associated Press
The chairman of Prudential-Bache Securities Inc. has agreed to a censure by the New York Stock Exchange for failing to oversee E. F. Hutton & Co. properly when he was president of that firm during an overdrafting scheme, sources familiar with the settlement said today. The sources said the exchange determined George L. Ball was not aware of the scheme, which was conducted in the 1980s and became a key element in Hutton's subsequent demise.
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