January 12, 1999 |
Rockwell International Corp., once one of Orange County's largest employers, said Monday that it will move its headquarters to the Midwest by the end of this summer, closing another chapter in the aerospace industry that once dominated Southern California's economy. Costa Mesa-based Rockwell has slimmed down in recent years, as it sold or spun off nearly all of its California operations.
January 5, 1999 |
Mergers, corporate spinoffs and name changes effective Monday may affect the newspaper stock listing you've followed for years. These changes in The Times' stock market tables and those of other newspapers are among the notable moves: * The takeover of Amoco Corp. by British Petroleum Co. was completed as 1998 ended. The new company is called BP Amoco, with a ticker symbol of BPA; the name appears in The Times' New York Stock Exchange list as BP Amoco.
December 30, 1998 |
Rockwell International Corp.'s chief executive took a 48% cut in compensation in fiscal 1998 as the maker of factory automation equipment missed some of its financial targets, according to a Securities and Exchange Commission filing. Chairman and Chief Executive Don Davis' pay fell to $796,500 for the year ended Sept. 30 from $1.5 million because he didn't get a bonus. His salary rose 21% to $775,000 from $641,667. He also received 200,000 options with a strike price of $48.12, valued at $3.
December 30, 1998 |
Rockwell International Corp.'s chief executive took a 47% cut in compensation in fiscal 1998 as the maker of factory automation equipment missed some of its financial targets, a regulatory filing disclosed Tuesday. Chairman and Chief Executive Don Davis' pay fell to $796,500 for the year ended Sept. 30 from $1.5 million because he didn't get a bonus, according to a report filed with the Securities and Exchange Commission.
December 12, 1998 |
Rockwell International Corp., moving to trim millions of dollars of costs, has told thousands of nonunion employees and retirees that the company is scaling back its health benefits. A total of 28,000 Rockwell employees in the U.S. and 18,000 retirees will have to pay as much as 20% of their health premiums, the company said Friday. The plan, which would increase health costs in two stages beginning Jan.
December 9, 1998 |
John D. Cosgrove will step down in January as president of Rockwell International Corp.'s Rockwell Collins unit, the Costa Mesa company said Tuesday. Cosgrove, 64, who is retiring, will be replaced by Clayton M. Jones, the company's executive vice president. Cosgrove was named president of the aviation electronics unit in 1996. Before that, he was president of the Rockwell Collins Avionics & Communications Division. He joined the Collins Radio Co.
November 11, 1998 |
The Newport Beach-based semiconductor unit of Rockwell International Corp. will be called when it is spun off at the end of this year, the company said Tuesday. The new company will have a red, stylized "C" logo, and its stock will be traded on the Nasdaq market under the symbol CNXT. The Conexant name, developed by Berkeley-based Master-McNeil Inc., is intended to merge the ideas of "connecting," "next" and the suffix "ant," implying "a proactive action-oriented approach to business."
November 6, 1998 |
Rockwell International Corp., the Costa Mesa-based avionics and automation giant, said Thursday that its shareholders will receive one share of stock in the new semiconductor systems spinoff company, for every two shares of Rockwell stock. The distribution is expected to occur Dec. 31 for shareholders of record Dec. 11. The new company, which is scheduled to unveil its corporate name next week, has applied to have its stock listed on the Nasdaq National Market.
November 5, 1998 |
Avionics and automation giant Rockwell International Corp. Wednesday reported a fourth-quarter loss due to the restructuring of its semiconductor business. The Costa Mesa-based company said it lost $126 million, or 65 cents a share, compared with a profit of $109 million, or 53 cents a share, in the fourth quarter of 1997. The latest results include the discontinued semiconductor operations, which Rockwell plans to spin off to shareholders by the end of the year.