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NEWS
August 2, 1997 | MELINDA FULMER, SPECIAL TO THE TIMES
One of Orange County's pioneer developers of planned communities, the Mission Viejo Co., will be sold to J.F. Shea Co., an expanding Southern California building firm, it was announced Friday. The deal is expected to fetch more than $400 million, although terms were not disclosed by Philip Morris Cos. Inc., which has owned the Mission Viejo Co. since 1972. Shea will acquire about 900 acres of undeveloped land in Mission Viejo and Aliso Viejo, and 3,600 acres in Colorado.
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BUSINESS
April 22, 2014 | By Hugo Martin
A national study on customer satisfaction suggests that passenger satisfaction ratings slump after airlines undergo a merger with another carrier. The nation's top airlines received a combined score of 69 on a 1-to-100 scale, below the average scores for banks, insurance companies, gas stations, hotels and the U.S. Postal Service, according to the American Customer Satisfaction Index, an annual study released Tuesday. The airlines' score remained the same from last year's customer satisfaction score.
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NEWS
September 30, 1990 | CAROL J. WILLIAMS, TIMES STAFF WRITER
West Germany is scrambling to prepare for an impending invasion from the East on a scale that North Atlantic Treaty Organization war games never dared to imagine. On Wednesday, the entire 90,000-strong East German Volksarmee will join forces with the West German Bundeswehr in a military merger of former foes.
ENTERTAINMENT
April 21, 2014 | By Ryan Faughnder
Higher prices are the new black for Netflix. The Los Gatos, Calif., streaming video company plans to raise prices for new customers by $1 or $2 a month this quarter, the company said Monday in its quarterly earnings release. Existing customers will continue to pay the current prices for "a generous time period," the company said. Access to the company's streaming video library currently costs $7.99 a month for suscribers in the United States, and Netflix has been experimenting with pricing models as it spends to improve its selection of movies and television shows and builds out its slate of original content.
BUSINESS
February 15, 2001 | ANA BEATRIZ CHOLO, TIMES STAFF WRITER
Casual attire may rule in the office, but as men find themselves needing a tux more than once a decade, a rise in rentals is fueling a national consolidation in the men's formal-wear industry. Gary's Tux Shops of Van Nuys on Wednesday agreed to merge with Chicago-based Gingiss Formalwear in a stock transaction to create the first nationwide chain of tuxedo rental stores. Additional terms of the deal were not disclosed.
BUSINESS
November 4, 1994 | From Times Staff and Wire Reports
Takeovers Headed for Second-Biggest Year: U.S. corporate takeovers are headed for their second-highest annual level, based on the strength of mergers in telecommunications, media and medicine. The value of announced mergers and acquisitions in the first 10 months of 1994 totaled $284.4 billion, according to Securities Data Co., which tracks financial markets. The year's totals will probably surpass the $292.9 billion mark set in 1989, Securities Data said. A record of $335.
ENTERTAINMENT
December 3, 2013 | By Meg James
The improving global economy has given media executives confidence for fiscal improvement in 2014 -- a year that could be punctuated by mergers and acquisitions in the media and entertainment sectors, according to a new report. Consulting firm Ernst & Young on Tuesday released its 9th Capital Confidence Barometer for the media and entertainment industry. The report -- a survey of senior executives of large media companies -- is intended to glean corporate concerns and boardroom trends.
CALIFORNIA | LOCAL
November 1, 1995
Re mergers: Why aren't environmental impact studies conducted prior to the merger of giant corporations? Why are we outraged by the destruction of a rodent's habitat, yet do nothing when thousands of people lose their jobs so corporate executives can line their pockets in the name of efficiency? MARGARET MOOD Santa Ana
BUSINESS
December 10, 1995
The reports in the Los Angeles Times indicate there will be an ongoing stream of company mergers. For example, Wells Fargo Bank is attempting a hostile takeover of First Interstate Bancorp. The message these companies try to give the public is that these mergers are necessary to reduce costs, become more competitive in individual markets and therefore remain profitable. Workers are laid off to create these cost reductions. If Wells Fargo is successful in its takeover of First Interstate, perhaps 5,000 Californians will be laid off. What really motivates these companies to do these mergers, to make these layoffs?
CALIFORNIA | LOCAL
March 30, 1998
Re "Officials Mute on the Mergers That Ate L.A.," by Peter Navarro, Commentary, March 25: I am a certified financial planner and have been practicing in the Los Angeles area for 25 years. My children are mostly corporate managers, executives and engineers. When they retire, many can't wait to leave Los Angeles. Navarro sees a lot of effects of corporate mergers and acquisitions and sees them accurately. the brainpower, inventiveness, vision and determination that are the hallmarks of American business, in many cases that he recites, do not reside in Los Angeles.
BUSINESS
April 11, 2014 | By Ricardo Lopez
The ports of Los Angeles and Long Beach are like the Coke and Pepsi of U.S. maritime transportation. They seem similar, they dominate the competition but they have a long history of less-than-friendly rivalry. Now, an independent commission's proposal to merge the neighboring harbors is being met with skepticism. The L.A. 2020 Commission, made up of prominent business, labor and civic leaders, on Wednesday unveiled a series of recommendations that included merging the ports of Los Angeles and Long Beach.
ENTERTAINMENT
April 9, 2014 | By Joe Flint and Meg James
Comcast Corp., already the nation's largest cable and Internet provider, says it needs to get bigger to compete against the formidable giants of Silicon Valley. The Philadelphia-based cable behemoth said in a government filing Tuesday that its proposed $40-billion acquisition of Time Warner Cable Inc. will benefit consumers without limiting competition. Both companies contend that they need muscle to compete against emerging competition from Google Inc., Apple Inc., Netflix Inc. and Amazon.com Inc. Comcast said in a 175-page document filed with the Federal Communications Commission that the deal would mean better Internet and cable TV service for millions of consumers.
ENTERTAINMENT
March 26, 2014 | By Joe Flint
Once again there is speculation that satellite broadcasters Dish and DirecTV are in merger talks, this time courtesy of a story in Bloomberg. These stories have been popping up about every six months. Typically, the stocks of both companies get a nice boost and then a few weeks go by and nothing happens. Then six months later another story breaks and the process repeats itself. A combination of Dish and DirecTV would create a pay-TV powerhouse with about 35 million subscribers.
BUSINESS
March 26, 2014 | By W.J. Hennigan
About 150 employees at rocket engine maker Aerojet Rocketdyne in Canoga Park were told Wednesday that they would be laid off as part of a companywide reduction that the company says is related to last year's merger. Aerojet Rocketdyne was created by the sale of Rocketdyne to GenCorp Inc. for $550 million, a deal that was finalized last summer. It brought together two major California rocket companies - and longtime competitors. GenCorp already owned Aerojet, the Sacramento aerospace firm founded in 1942.
BUSINESS
February 27, 2014 | By Hugo Martín
American Airlines has eliminated its so-called bereavement fares for people who need to book a last-minute flight because of the death of a loved one. The airline, which is merging with US Airways, said it discontinued the fare as of Feb. 18 to be consistent with the policies of US Airways. In the past, American Airlines offered a bereavement fare that was lower than typical last-minute fares but varied based on route, departure time, availability and other factors. In a statement, the airline said: "With the advent of more choices, lower cost carriers and larger networks, the industry has started to move away from bereavement fares because walk-up fares are generally lower than in the past, and customers now have more opportunities to find affordable fares at the last minute.
BUSINESS
February 18, 2014 | By Hugo Martín
United Airlines' computer systems shut down briefly Tuesday, delaying takeoffs and frustrating passengers. The system problems that began in the morning represented the latest malfunction for the nation's third-largest carrier since United switched over to the computer systems of merger partner Continental Airlines starting in 2012. In a statement, the airline said: "This morning we experienced intermittent issues with our passenger service computer system, causing some flight delays.
BUSINESS
April 17, 1998 | From Reuters
House Banking Committee Chairman James Leach (R-Iowa) said Thursday that his panel will hold hearings later this month on the recently announced bank mergers. "The case for greater competition and homogenization within the financial services industry--banking, securities and insurance--may be compelling, but the precept that banks should be intertwined with general commercial companies demands great scrutiny," Leach said.
BUSINESS
January 26, 2014 | By Hugo Martín
The nation's airline industry has undergone so many mergers in the last decade that only four airlines and their regional carriers control more than 80% of all domestic air traffic. Despite warnings from consumer advocates, the merger mania is having a positive effect on the industry and is partly responsible for keeping fares low, according to a new study by PwC, the auditing and consulting firm formerly known as PricewaterhouseCoopers. The latest major airline merger was approved last month when American Airlines agreed to unite with US Airways to create the world's largest carrier.
OPINION
February 14, 2014 | By The Times editorial board
The proposed merger between Comcast and Time Warner Cable, the country's two largest cable TV operators, generated a predictable wave of outrage from opponents of corporate consolidation. With about 30% of all pay-TV customers served by its wires, the combined company would have extraordinary leverage when negotiating with television networks over the fees for their programming. It also would be the gatekeeper to a third of all U.S. homes with broadband. Those are scary scenarios for consumers and content companies.
ENTERTAINMENT
February 14, 2014 | By Joe Flint and Meg James
Comcast Corp.'s $45.2-billion stock deal for Time Warner Cable would create a media juggernaut with revenue approaching $100 billion and more than 30 million customers, including more than 1.5 million in the Los Angeles metropolitan area. "We view this as a merger that creates a company on the leading edge of innovation, a company committed to investing in networks, products and services that deliver the customer the best possible experiences," Comcast Chief Executive Brian Roberts said on a call with Wall Street analysts.
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