July 9, 2004 |
Global Crossing Ltd. founder Gary Winnick averted a $116-million verdict by settling a breach-of-contract lawsuit brought by a former business partner moments before that decision would have become official, according to jurors in the four-week civil trial held in Los Angeles County Superior Court.
CALIFORNIA | LOCAL
October 12, 1999
Former Gov. Pete Wilson has been named a managing director of Pacific Capital Group, a merchant bank and investment firm, the company announced Monday. Wilson will be a member of the senior management team and will take an active leadership role in the Beverly Hills-based firm's private investment activities. "I am excited to work with a group that has provided the capital investment that has contributed to the formation and growth of so many companies," Wilson said.
July 31, 1999 |
An Orange County investment group said Friday that it completed the purchase of defaulted and foreclosed Japanese loans with a face amount of $1.7 billion from Bank of Tokyo-Mitsubishi, the world's biggest bank. Pacific Capital Investors, the 9-month-old local group, is competing with large Wall Street firms and "vulture funds" also hoping to benefit by buying bad debts in Japan at a fraction of their face value, then striking deals with the borrowers to repay them at steep discounts.
June 27, 2001 |
An investor group led by two Los Angeles-based venture capital firms agreed to buy PrimeCo PCS and its wireless operations in Chicago for an undisclosed price. The property was owned by Verizon Wireless, which had to sell the business because of federal limits on wireless licenses. The PrimeCo purchase includes a wireless license in and around Chicago and into parts of Indiana, with 34 cell phone service stores and kiosks, 400 employees and a network of 400,000 subscribers.
May 10, 2000 |
Los Angeles investor Gary Winnick, who built Global Crossing Ltd. into an international telecommunications player in three years, said Tuesday that he bought a majority stake in a real estate investment firm and will expand the company's investment focus into non-real estate ventures. Winnick's Pacific Capital Group purchased a 70% interest in Beverly Hills-based Colony Capital Inc. Colony Chairman Thomas Barrack will become one of three managing partners of Pacific Capital.
April 17, 2000 |
Abbott Brown, co-founder of Bermuda-based telecom behemoth Global Crossing Ltd., quit three weeks ago to devote his full energy--and about $100 million--to Ridgestone Corp., a Westwood-based venture capital firm he created in 1997. After helping the transoceanic fiber-optic company grow to 12,000 employees and a market capitalization of $40 billion, Brown says he is pining for quieter--if not greener--pastures.