January 16, 1991 |
In a surprising move, an embattled Marje Everett has nominated a Las Vegas casino operator and promoter to replace her as board chairman and chief executive officer of Hollywood Park. Steve Wynn, who has gone from a family bingo business to owning one of the glitziest hotel-casinos on the Las Vegas strip, is expected to be elected to both positions at a special meeting of the Hollywood Park directors that Everett has called for Thursday. Everett, who is trying to win a proxy fight started by R.
January 5, 1991 |
Four days after he announced victory over Marje Everett in their battle to control Hollywood Park, R.D. Hubbard learned Friday that he had fallen less than 1% short of the stockholder support he needed. After the Hollywood Park election inspectors examined the votes in Delaware, where the company is incorporated, it was announced that preliminary returns show that Hubbard has 49.38% of the shareholder consents.
January 3, 1991 |
Santa Anita, as recently as early 1990, entered into secret discussions with a board member of Hollywood Park that would have led to the elimination of racing at the Inglewood track and the transference of most of those dates to Santa Anita. Santa Anita went so far as to commission a major study that included a map of Hollywood Park property to be sold and the redistribution of racing dates.
January 1, 1991 |
R.D. Hubbard, accelerating his plan to oust Marje Everett and assume control of Hollywood Park, announced Monday that he had received approval from a majority of the shareholders. Hubbard, who said he would become chief executive officer and chairman of the board, added that his 11 candidates for the Hollywood Park Operating Co. board would confer Wednesday via telephone to elect new officers. Hubbard, a Texas glassmaker who owns race tracks in Kansas City, Kan., and Ruidoso, N.M.
December 30, 1990 |
Attorneys for Marje Everett, who is facing possible removal as chief executive officer of Hollywood Park by mid-week, are seeking a preliminary injunction that would delay her ouster. In seeking the injunction, Everett's attorneys say that R.D. Hubbard, Harry Ornest and Tom Gamel, three of Hollywood Park's largest stockholders, have violated sections of the Securities and Exchange Act.
December 28, 1990 |
Tom Gamel, one of Hollywood Park's major shareholders, said Thursday that he has resigned from the board of directors of the Hollywood Park Operating Co. and is voting his proxies for R.D. Hubbard in Hubbard's battle to unseat Marje Everett as chief executive officer of the track. Gamel, who owns 5.6% of the stock, said he will continue to serve on the board of Hollywood Park Realty, which controls the track's property and leases it to Hollywood Park Operating.
December 14, 1990 |
The current operators of Hollywood Park, embroiled in a bitter power struggle for control of the race track, have questioned the background of R.D. Hubbard in a letter to the California Horse Racing Board. Hubbard, the owner of race tracks in New Mexico and Kansas, has initiated a proxy fight to remove the current board of directors, including Chief Executive Officer Marje Everett.
December 10, 1990 |
Hollywood Park Suit, Countersuit: Texas millionaire R. D. Hubbard, engaged in a battle for control of Hollywood Park race track, filed suit against the company that manages the track, charging that its board made false and misleading statements about his takeover efforts. Hollywood Park Operating Co. retaliated with a separate federal suit against Hubbard aimed at stopping his proxy fight.
December 6, 1990 |
The battle for control of Hollywood Park was active on two fronts Wednesday: --The track's realty board rejected a proposal by the operating company to put the track up for sale. --Earlier in the day, the operating company filed a lawsuit against three of the track's largest shareholders, accusing them of conspiring to take over control.
December 4, 1990 |
The audit committee of Hollywood Park has launched an investigation into allegations that Marje Everett, the track's chief executive officer, may have used company goods and services for private use. Meeting Monday, the audit committee delegated the Arthur Anderson Co. to look into conduct by Everett that was questioned by R.D. Hubbard in a letter to Warren Williamson, secretary-treasurer of the Hollywood Park Operating Co. The letter, dated Nov.