Advertisement
YOU ARE HERE: LAT HomeCollectionsSea Land Corp
IN THE NEWS

Sea Land Corp

FEATURED ARTICLES
BUSINESS
June 7, 1988 | KEITH BRADSHER, Times Staff Writer
Southern California's biggest export by volume is not oranges, movies or missiles. It's empty space. But that's changing, and shipping companies say it is about time. Close to half the containers that passed through the ports of Los Angeles and Long Beach last year left empty. But the fall in the U.S.
ARTICLES BY DATE
BUSINESS
March 17, 1999 | Bloomberg News
CSX Corp. said it will split its Sea-Land Service Inc. business, the biggest U.S. ocean-shipping company, into three units in a move that may make it easier to sell. CSX, which also owns the third-largest U.S. railroad, will separate Sea-Land into a company that handles port business, a domestic shipping company and an international shipper. Richmond, Va.-based CSX is shifting its focus to its railroad. The company is absorbing its purchase of part of Conrail Inc.
Advertisement
BUSINESS
March 17, 1999 | Bloomberg News
CSX Corp. said it will split its Sea-Land Service Inc. business, the biggest U.S. ocean-shipping company, into three units in a move that may make it easier to sell. CSX, which also owns the third-largest U.S. railroad, will separate Sea-Land into a company that handles port business, a domestic shipping company and an international shipper. Richmond, Va.-based CSX is shifting its focus to its railroad. The company is absorbing its purchase of part of Conrail Inc.
BUSINESS
April 7, 1992 | MARTHA GROVES
What's left of the nation's once mighty oceangoing merchant marine is threatening to jump ship if the government does not ease burdensome taxes and regulations. American President Lines and Sea-Land--the two largest U.S.-flagged shipping lines--have put government agencies and unions on alert that, with maritime operating subsidies coming to an end and military shipments declining, the benefits of flying the U.S. flag are fast disappearing for commercial carriers.
BUSINESS
June 7, 1988
The chairman and president of three Tennessee energy and transportation concerns has sold almost all of his stake in Country Wide Transport Services Inc. of Pomona, Calif. to CSX/Sea-Land Logistics Inc. at $8 a share, according to a filing with the Securities and Exchange Commission. Clyde Fuller said he sold 1.1 million shares on May 3. He still owns 50,000 common shares or 1.1% of Country Wide.
BUSINESS
September 13, 1991 | MARTHA GROVES, TIMES STAFF WRITER
The Defense Department organization overseeing the return of military cargo from the Persian Gulf has contended to the Federal Maritime Commission that it was overcharged by a shipping company. The Navy's Military Sealift Command also said Thursday that it is weighing alternatives, including a possible lawsuit, to attempt to recover what might be tens of millions of dollars in overcharges by Sea-Land Service Inc. Sea-Land, with offices in Edison, N.J., is a subsidiary of CSX Corp.
BUSINESS
April 7, 1992 | MARTHA GROVES
What's left of the nation's once mighty oceangoing merchant marine is threatening to jump ship if the government does not ease burdensome taxes and regulations. American President Lines and Sea-Land--the two largest U.S.-flagged shipping lines--have put government agencies and unions on alert that, with maritime operating subsidies coming to an end and military shipments declining, the benefits of flying the U.S. flag are fast disappearing for commercial carriers.
BUSINESS
December 12, 1985
The Menlo Park, N.J.-based firm is using the defense in the face of a hostile takeover attempt by Dallas financier Harold C. Simmons. Under the plan, Sea-Land stockholders of record Dec. 20 will receive rights entitling them to buy the stock of a hostile suitor at a 50% discount--if an unwelcome bidder acquired 35% or more of Sea-Land's stock or launches a tender offer that would give the bidder 35% or more of the company.
BUSINESS
November 27, 1985
Acting on the advice of its financial adviser, Dillon, Read & Co., the board of directors of Sea-Land Corp. said the offer of $25 a share, or $585 million, from Dallas businessman Harold Simmons was "inadequate." The board authorized management to explore all available alternatives. Meanwhile, Simmons, who already controls 25% of Sea-Land, will meet with management Tuesday. He has agreed not to buy any more Sea-Land stock before then.
BUSINESS
September 13, 1991 | MARTHA GROVES, TIMES STAFF WRITER
The Defense Department organization overseeing the return of military cargo from the Persian Gulf has contended to the Federal Maritime Commission that it was overcharged by a shipping company. The Navy's Military Sealift Command also said Thursday that it is weighing alternatives, including a possible lawsuit, to attempt to recover what might be tens of millions of dollars in overcharges by Sea-Land Service Inc. Sea-Land, with offices in Edison, N.J., is a subsidiary of CSX Corp.
BUSINESS
June 7, 1988
The chairman and president of three Tennessee energy and transportation concerns has sold almost all of his stake in Country Wide Transport Services Inc. of Pomona, Calif. to CSX/Sea-Land Logistics Inc. at $8 a share, according to a filing with the Securities and Exchange Commission. Clyde Fuller said he sold 1.1 million shares on May 3. He still owns 50,000 common shares or 1.1% of Country Wide.
BUSINESS
June 7, 1988 | KEITH BRADSHER, Times Staff Writer
Southern California's biggest export by volume is not oranges, movies or missiles. It's empty space. But that's changing, and shipping companies say it is about time. Close to half the containers that passed through the ports of Los Angeles and Long Beach last year left empty. But the fall in the U.S.
BUSINESS
January 13, 1986
The plan is aimed at making the international shipper unpalatable to Dallas financier Harold C. Simmons, who wants to acquire it in a hostile takeover. Noting that the Dallas-based Simmons now has more than 35% of Sea-Land's common stock, company officials decided to trigger an anti-takeover plan approved Dec. 10 by the Sea-Land board of directors. The plan gives current shareholders rights to acquire more stock at a 50% discount, diluting the value of the block held by Simmons.
BUSINESS
November 22, 1985
An attorney for the Dallas invester said Simmons has increased his stake in the company to 22.1% from 18%. He now owns a total of 5,144,831 shares of Sea-Land Corp. The additional purchases were made at prices ranging from $24.25 to $24.75 a share, the attorney said. The company has about 23.2 million shares outstanding. Sea-Land is an ocean shipping-container firm based in Menlo Park, N.J.
Los Angeles Times Articles
|