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BUSINESS
March 10, 1993 | LINDA GRANT, TIMES STAFF WRITER
Primerica Corp.--headed by Sanford I. Weill, one of Wall Street's most prolific deal makers--is negotiating to acquire the brokerage business of American Express' Shearson Lehman Bros., the companies said Tuesday. The deal--which would combine Primerica's Smith Barney, Harris Upham subsidiary with Shearson's domestic retail brokerage and asset-management business--would create a Wall Street powerhouse with 11,400 brokers and nearly 500 branches.
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BUSINESS
March 10, 1993 | LINDA GRANT, TIMES STAFF WRITER
Primerica Corp.--headed by Sanford I. Weill, one of Wall Street's most prolific deal makers--is negotiating to acquire the brokerage business of American Express' Shearson Lehman Bros., the companies said Tuesday. The deal--which would combine Primerica's Smith Barney, Harris Upham subsidiary with Shearson's domestic retail brokerage and asset-management business--would create a Wall Street powerhouse with 11,400 brokers and nearly 500 branches.
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BUSINESS
May 22, 1992 | From Times Staff and Wire Reports
Smith, Barney Confirms Talks About Kidder: Smith Barney, Harris Upham & Co. confirmed that it has talked with General Electric Co. about acquiring GE's brokerage subsidiary, Kidder Peabody Co., but said the talks have broken down, analysts said. Shedding Kidder would be in line with GE Chairman John Welch's stated aim to be the top or second-ranked company in all the industries it is in, analysts said. In 1991, Kidder ranked fifth in an IDD Information Services survey of securities
BUSINESS
May 22, 1992 | From Times Staff and Wire Reports
Smith, Barney Confirms Talks About Kidder: Smith Barney, Harris Upham & Co. confirmed that it has talked with General Electric Co. about acquiring GE's brokerage subsidiary, Kidder Peabody Co., but said the talks have broken down, analysts said. Shedding Kidder would be in line with GE Chairman John Welch's stated aim to be the top or second-ranked company in all the industries it is in, analysts said. In 1991, Kidder ranked fifth in an IDD Information Services survey of securities
BUSINESS
March 1, 1990 | KATHY M. KRISTOF, TIMES STAFF WRITER
Wall Street is speculating that Sanford I. Weill is about to make his big comeback. Weill, chairman and chief executive of Primerica Corp., vowed to return to the financial services industry in a big way when he left Shearson Lehman Hutton five years ago after losing a power struggle with American Express' top man, James D. Robinson III. Now he's rumored to be talking to Robinson about buying Shearson, which has languished with losses, management changes and souring loans for leveraged buyouts.
BUSINESS
February 20, 1990 | From Times Wire Services
Shearson Lehman Hutton Inc. said Monday that it would take over 25,000 brokerage accounts with more than $4 billion in assets from Drexel Burnham Lambert, the investment firm in bankruptcy protection and now liquidating itself. Under the agreement, Shearson will pay nothing for the accounts. Drexel will pay Shearson $10 million to cover the costs of transferring the accounts and any unforeseen liabilities, according to a source familiar with the deal.
BUSINESS
July 17, 1991 | From Associated Press
Merrill Lynch & Co. and Smith Barney, Harris Upham & Co. said Tuesday that their earnings more than doubled amid robust second-quarter trading on financial markets. * Merrill Lynch, the nation's largest brokerage firm, said it earned $184.3 million, up 149% from the $74.1 million posted in the same period of 1990. Total revenue rose to $3.06 billion from $2.86 billion. Merrill Lynch Chairman William A.
CALIFORNIA | LOCAL
September 30, 1989 | JOEL SAPPELL and RICH CONNELL, Times Staff Writers
A federal grand jury has subpoenaed Mayor Tom Bradley's personal financial records from a West Coast brokerage firm where a Bradley fund raiser and former Harbor Commission appointee served as the mayor's stockbroker. A spokesman for Bateman Eichler, Hill Richards Inc. confirmed Friday that documents were demanded this week by the U.S. attorney's office, which has intensified its months-long investigation of Bradley's personal business dealings and conduct in office.
BUSINESS
March 1, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
American Express confirmed Wednesday that it has held preliminary, exploratory talks about a possible merger or other business combination between its troubled brokerage unit, Shearson Lehman Hutton, and Smith Barney, Harris Upham & Co. An American Express spokesman said late Wednesday night that "very preliminary" discussions have been held but that no concrete proposals are on the table. The spokesman said he did not know if further discussions will take place.
BUSINESS
July 17, 1991 | From Associated Press
Merrill Lynch & Co. and Smith Barney, Harris Upham & Co. said Tuesday that their earnings more than doubled amid robust second-quarter trading on financial markets. * Merrill Lynch, the nation's largest brokerage firm, said it earned $184.3 million, up 149% from the $74.1 million posted in the same period of 1990. Total revenue rose to $3.06 billion from $2.86 billion. Merrill Lynch Chairman William A.
BUSINESS
March 1, 1990 | KATHY M. KRISTOF, TIMES STAFF WRITER
Wall Street is speculating that Sanford I. Weill is about to make his big comeback. Weill, chairman and chief executive of Primerica Corp., vowed to return to the financial services industry in a big way when he left Shearson Lehman Hutton five years ago after losing a power struggle with American Express' top man, James D. Robinson III. Now he's rumored to be talking to Robinson about buying Shearson, which has languished with losses, management changes and souring loans for leveraged buyouts.
BUSINESS
March 1, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
American Express confirmed Wednesday that it has held preliminary, exploratory talks about a possible merger or other business combination between its troubled brokerage unit, Shearson Lehman Hutton, and Smith Barney, Harris Upham & Co. An American Express spokesman said late Wednesday night that "very preliminary" discussions have been held but that no concrete proposals are on the table. The spokesman said he did not know if further discussions will take place.
BUSINESS
February 20, 1990 | From Times Wire Services
Shearson Lehman Hutton Inc. said Monday that it would take over 25,000 brokerage accounts with more than $4 billion in assets from Drexel Burnham Lambert, the investment firm in bankruptcy protection and now liquidating itself. Under the agreement, Shearson will pay nothing for the accounts. Drexel will pay Shearson $10 million to cover the costs of transferring the accounts and any unforeseen liabilities, according to a source familiar with the deal.
CALIFORNIA | LOCAL
September 30, 1989 | JOEL SAPPELL and RICH CONNELL, Times Staff Writers
A federal grand jury has subpoenaed Mayor Tom Bradley's personal financial records from a West Coast brokerage firm where a Bradley fund raiser and former Harbor Commission appointee served as the mayor's stockbroker. A spokesman for Bateman Eichler, Hill Richards Inc. confirmed Friday that documents were demanded this week by the U.S. attorney's office, which has intensified its months-long investigation of Bradley's personal business dealings and conduct in office.
BUSINESS
December 16, 1988 | From Reuters
Another brokerage house Thursday joined the rash of cutbacks since the October, 1987, market crash as Smith Barney, Harris Upham & Co. said it had dismissed about 120 employees due to a slump in the securities business. New York-based Smith Barney, part of the Primerica Corp. financial empire recently bought by Commercial Credit Group Inc., said its biggest cuts were in the municipal trading and finance division, which lost 25 jobs.
BUSINESS
December 16, 1988 | From Reuters
Another brokerage house Thursday joined the rash of cutbacks since the October, 1987, market crash as Smith Barney, Harris Upham & Co. said it had dismissed about 120 employees due to a slump in the securities business. New York-based Smith Barney, part of the Primerica Corp. financial empire recently bought by Commercial Credit Group Inc., said its biggest cuts were in the municipal trading and finance division, which lost 25 jobs.
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