March 10, 1987 |
Developer Donald Trump said Monday that he will pay $78.9 million for a controlling interest of Resorts International Inc., just weeks after halting an attempt to take control of another gambling and hotel company. Resorts International announced that holders of Class B stock representing 73% of the voting power in the company had agreed to sell their shares to Trump at a net price of $135 per share.
September 21, 1988
ADDRESS: 3501 Jamboree Rd., Newport Beach. BUSINESS: The company builds single-family homes in Southern California. ASSETS: $241.6 million (Feb. 28, 1988). NUMBER OF EMPLOYEES: 215. TOP EXECUTIVES: Cash Name Position Compensation James M. Peters Chairman, president, $375,750 chief executive officer Christopher Gibbs Executive vice president, NA chief operating officer William J. Pittman Vice president, $410,625 chief financial officer Richard D. Bradshaw Vice president $479,897 Marquis L.
March 24, 1987 |
New York money manager Martin T. Sosnoff disclosed Monday that he has been exploring for possible partners in his bid for Los Angeles-based casino operator Caesars World. Sosnoff said he has had "preliminary" talks with Dallas-based casino operator Pratt Hotel Corp. and a Pratt ally, Southmark Corp., about a possible joint venture to acquire Caesars, which owns three major hotel-casinos. They are Caesars Palace, Caesars Tahoe in Nevada and Caesars Atlantic City in New Jersey.
June 2, 1985 |
The "Queen of the Valley" is getting a shot in the arm. Palm Springs is experiencing its first major redevelopment project. Redevelopment? In the playground of the stars, billion-dollar sandbox, oasis in the desert? Well, it isn't like changing an ugly duckling into a beautiful swan. The gracious hostess to a couple million visitors each year was just beginning to sag a bit. After all, she was incorporated in 1938. She is what John D. Stiles Jr.
April 6, 1987 |
Defending against a $28-a-share takeover bid, Caesars World on Sunday unveiled a billion-dollar "recapitalization" in which it would pay a special cash dividend of $25 a share to its shareholders. Shareholders of the Los Angeles-based casino operator, whose stock is traded on the New York Stock Exchange, would still own their shares in the reorganized corporation, which would have a heavy debt load as a result of the restructuring. There was no immediate reaction by Martin T.