Advertisement
YOU ARE HERE: LAT HomeCollectionsSmith Barney Co
IN THE NEWS

Smith Barney Co

FEATURED ARTICLES
BUSINESS
May 24, 2006 | From Dow Jones/the Associated Press
Citigroup's Smith Barney brokerage unit has agreed to pay $98 million to settle claims on behalf of thousands of current and former brokers who said they were owed overtime pay and other reimbursements. The proposed settlement is the latest and largest by securities firms that claimed brokers were exempt from state and federal overtime laws because they are salaried, administrative employees.
ARTICLES BY DATE
BUSINESS
May 24, 2006 | From Dow Jones/the Associated Press
Citigroup's Smith Barney brokerage unit has agreed to pay $98 million to settle claims on behalf of thousands of current and former brokers who said they were owed overtime pay and other reimbursements. The proposed settlement is the latest and largest by securities firms that claimed brokers were exempt from state and federal overtime laws because they are salaried, administrative employees.
Advertisement
BUSINESS
May 28, 1987 | DEBRA WHITEFIELD, Times Staff Writer
Smith Barney, one of Wall Street's oldest and best-known investment firms, said Wednesday that it has agreed to a $750-million takeover offer from Primerica, a company run by former mutual fund guru Gerald Tsai Jr. and which until last month was called American Can.
BUSINESS
April 1, 2005 | From Bloomberg News
One current and three former female brokers sued Citigroup Inc.'s Smith Barney unit Thursday, accusing the brokerage of discriminating against them and other female employees. The suit, filed in federal court in San Francisco, claims that Smith Barney steered accounts to male brokers and gave women fewer opportunities to increase their commissions.
BUSINESS
May 11, 1993 | From Times Staff and Wire Reports
Smith Barney Lays Off 1,500: Primerica Corp.'s Smith Barney brokerage said it expects to lay off up to 1,500 people because of its merger with Shearson Lehman Bros. Inc. The two companies announced in March that Primerica would buy Shearson, which is owned by American Express Co., and merge it with Smith Barney. A spokesman said in New York that the layoffs would be in a range of 1,200 to 1,500.
BUSINESS
August 24, 1988 | Associated Press
Smith Barney, Harris Upham & Co. confirmed that it dismissed five top executives in an effort to reduce costs in its public finance division. Among those let go were Edward Tirrel, Oscar Carlson, Michael Cherry and James Williams, all managing directors, and J. Dale Lehman, a vice president, a company official said Tuesday. The official said 110 employees remain in the public finance department.
NEWS
July 25, 1992 | SCOT J. PALTROW, TIMES STAFF WRITER
The Securities and Exchange Commission has begun an inquiry into whether several of Wall Street's biggest investment houses are failing to weed out stockbrokers who repeatedly cheat individual investors. Seven brokerage firms confirmed Friday that they have received official letters of inquiry from the SEC, which took the action following a series of stories in The Times earlier this month on abuses in the retail brokerage industry.
BUSINESS
April 1, 2005 | From Bloomberg News
One current and three former female brokers sued Citigroup Inc.'s Smith Barney unit Thursday, accusing the brokerage of discriminating against them and other female employees. The suit, filed in federal court in San Francisco, claims that Smith Barney steered accounts to male brokers and gave women fewer opportunities to increase their commissions.
BUSINESS
October 10, 1997 | From Associated Press
Smith Barney has reached a tentative deal to settle a sex-harassment lawsuit probably best known for its allegations of a "boom boom room" in a branch office's basement where male workers engaged in lewd fraternity-house antics. The disclosure was made in federal court Thursday by lawyers for the New York-based brokerage firm and the 26 former and current female workers who claimed they were subjected to obscene behavior by brokers and managers for years.
BUSINESS
August 3, 1988
Smith Barney, Harris Upham & Co. has become the second brokerage firm investigating possible involvement of California employees in the growing Business Week scandal. The firm confirmed Tuesday that it is conducting an internal investigation of a California office amid reports that a sales assistant and a broker may have made trades similar to those of an active customer who had information about stock tips to be published in the magazine's "Inside Wall Street" column.
BUSINESS
October 10, 1997 | From Associated Press
Smith Barney has reached a tentative deal to settle a sex-harassment lawsuit probably best known for its allegations of a "boom boom room" in a branch office's basement where male workers engaged in lewd fraternity-house antics. The disclosure was made in federal court Thursday by lawyers for the New York-based brokerage firm and the 26 former and current female workers who claimed they were subjected to obscene behavior by brokers and managers for years.
BUSINESS
May 11, 1993 | From Times Staff and Wire Reports
Smith Barney Lays Off 1,500: Primerica Corp.'s Smith Barney brokerage said it expects to lay off up to 1,500 people because of its merger with Shearson Lehman Bros. Inc. The two companies announced in March that Primerica would buy Shearson, which is owned by American Express Co., and merge it with Smith Barney. A spokesman said in New York that the layoffs would be in a range of 1,200 to 1,500.
NEWS
July 25, 1992 | SCOT J. PALTROW, TIMES STAFF WRITER
The Securities and Exchange Commission has begun an inquiry into whether several of Wall Street's biggest investment houses are failing to weed out stockbrokers who repeatedly cheat individual investors. Seven brokerage firms confirmed Friday that they have received official letters of inquiry from the SEC, which took the action following a series of stories in The Times earlier this month on abuses in the retail brokerage industry.
BUSINESS
August 24, 1988 | Associated Press
Smith Barney, Harris Upham & Co. confirmed that it dismissed five top executives in an effort to reduce costs in its public finance division. Among those let go were Edward Tirrel, Oscar Carlson, Michael Cherry and James Williams, all managing directors, and J. Dale Lehman, a vice president, a company official said Tuesday. The official said 110 employees remain in the public finance department.
BUSINESS
August 3, 1988
Smith Barney, Harris Upham & Co. has become the second brokerage firm investigating possible involvement of California employees in the growing Business Week scandal. The firm confirmed Tuesday that it is conducting an internal investigation of a California office amid reports that a sales assistant and a broker may have made trades similar to those of an active customer who had information about stock tips to be published in the magazine's "Inside Wall Street" column.
BUSINESS
May 28, 1987 | DEBRA WHITEFIELD, Times Staff Writer
Smith Barney, one of Wall Street's oldest and best-known investment firms, said Wednesday that it has agreed to a $750-million takeover offer from Primerica, a company run by former mutual fund guru Gerald Tsai Jr. and which until last month was called American Can.
BUSINESS
November 5, 1997 | MYRON LEVIN, TIMES STAFF WRITER
Discount retailer ShopKo Stores said Tuesday that it will no longer sell tobacco products in its 130 department stores. Terry McDonald, a senior vice president at ShopKo, which operates stores in 15 states from Wisconsin to Oregon, cited a steady decline in cigarette sales, which account for less than 1% of the chain's revenue. ShopKo, which has no stores in California, becomes the second mass retailer to banish tobacco from its shelves.
CALIFORNIA | LOCAL
November 9, 2004 | From Times Staff and Wire Reports
Stephen A. Koffler, 62, an investment banker who engineered the leveraged buyout of Jenny Craig Inc. and handled Roy Disney's financing of L.A. Gear Inc., died of cancer Friday in Los Angeles. Born in Providence, R.I., Koffler earned a doctorate in solid-state physics and material science engineering at Rensselaer Polytechnic Institute. But he chose a career in finance, working on Wall Street and then moving to California as senior financial executive of Mattel Inc.
Los Angeles Times Articles
|