Advertisement
YOU ARE HERE: LAT HomeCollectionsStephen M Wolf
IN THE NEWS

Stephen M Wolf

FEATURED ARTICLES
ARTICLES BY DATE
BUSINESS
January 17, 1996 | From the Washington Post
Stephen M. Wolf, a longtime airline executive who specializes in turning around troubled carriers, was hired Tuesday to do just that at USAir, the nation's fifth-largest airline. Wolf was named chairman and chief executive of Arlington, Va.-based USAir Inc., with the immediate task of trimming more than $1 billion in labor costs from the airline. He will take over Monday from Seth Schofield, who tried and failed to persuade the airline's unions to make contract concessions.
Advertisement
BUSINESS
March 31, 1992 | From Times Staff and Wire Reports
UAL Chairman Turns Down Pay Bonus: Stephen M. Wolf turned down a bonus for 1991 and took home a fraction of what he was paid in 1990, the airline company reported in a proxy statement. The parent company of United Airlines, which lost a record $331.9 million in 1991, also said no cash bonuses will be paid this year to any top officer. Wolf was paid $575,000 in salary last year. In 1990, he received a bonus of $575,000--equal to his salary--and $15 million in stock-appreciation rights.
BUSINESS
March 31, 1992 | From Times Staff and Wire Reports
UAL Chairman Turns Down Pay Bonus: Stephen M. Wolf turned down a bonus for 1991 and took home a fraction of what he was paid in 1990, the airline company reported in a proxy statement. The parent company of United Airlines, which lost a record $331.9 million in 1991, also said no cash bonuses will be paid this year to any top officer. Wolf was paid $575,000 in salary last year. In 1990, he received a bonus of $575,000--equal to his salary--and $15 million in stock-appreciation rights.
BUSINESS
May 29, 1987 | DENISE GELLENE, Times Staff Writer
New York investor Saul P. Steinberg, who controls 18.6% of Tiger International's shares, said Thursday that he could not rule out a merger or acquisition of the company. But Steinberg, a director of Los Angeles-based Tiger, said in an interview after the company's annual meeting here that the company's first concern is to "concentrate on improving the business." Asked whether the company might be for sale at some point, he said: "I can't speculate on what will happen a year from now."
BUSINESS
August 12, 1986 | RALPH VARTABEDIAN
Flying Tiger Line, the troubled Los Angeles-based air cargo carrier, Monday named Stephen M. Wolf president and chief executive. Under Wolf's leadership, Republic Airlines managed to turn around from sustained losses over the last three years and was recently acquired by Northwest Orient Airlines. "Flying Tiger has lost a herculean amount of money over the last several years, and clearly something needs to be done to restore its health," Wolf said in an interview.
BUSINESS
February 3, 1991 | ROBERT E. DALLOS, TIMES STAFF WRITER
Tom McClain had spent an exhausting day on the slopes. His vacation at Austria's St. Anton ski resort marked the first time in many months that he had been able to get away with his wife and four children. McClain had just put his head on the pillow when the phone rang at 10 p.i. "Be in New York tomorrow afternoon. We're going to discuss the Middle East crisis," the voice on the other end ordered. It was Thursday, Jan. 3.
BUSINESS
October 10, 1990 | ROBERT E. DALLOS, TIMES STAFF WRITER
In the wake of another failure by employees to buy UAL Corp., parent of United Airlines, most observers believe that the company and its unions are headed for nasty confrontation and bitter rhetoric. "There is going to be trouble, one way or the other," predicted Stanley Aronowitz, a sociology professor who specializes in labor at the graduate school of the City University of New York.
BUSINESS
October 10, 1990 | DENISE GELLENE, TIMES STAFF WRITER
UAL Corp., parent of United Airlines, on Tuesday rejected two buyout offers from its unions, but the unions said they would not give up. The action by UAL's board had been expected since the unions failed last week to come up with bank financing for an offer. It was the fourth failed takeover bid for UAL in less than four years. UAL's shares fell $3.25 to $88 in trading on the New York Stock Exchange after the failure of the deal was announced.
BUSINESS
February 23, 1990 | From Associated Press
UAL Corp. Chairman Stephen M. Wolf said Thursday that he is willing to consider an employee buyout offer despite reports that he has turned against the plan because it may include dumping him. UAL board members also authorized releasing confidential financial information to the three United Airlines labor unions that are developing a formal proposal for employee control of United's parent company.
BUSINESS
October 20, 1989 | DENISE GELLENE, TIMES STAFF WRITER
British Airways has decided not to participate in the takeover UAL Corp., the parent of United Airlines, it was learned Thursday. The decision by British Airways is a major blow to the employee-management group that is trying to buy the airline. British Airways had agreed to contribute $750 million to the takeover effort, or about 80% of the equity needed to finance the deal.
BUSINESS
April 27, 1990 | ROBERT E. DALLOS, TIMES STAFF WRITER
UAL Corp. Chairman Stephen M. Wolf, in what may have been his final appearance before the airline company's shareholders, said Thursday that United Airlines will soon make what "will probably be the largest order (of wide-body airliners) in aviation history." Wolf, who had not appeared officially in public since the collapse last October of an employee-management offer to buy UAL, also predicted that the company's unions will succeed in their new effort to buy the firm.
NEWS
April 7, 1990 | ROBERT E. DALLOS, TIMES STAFF WRITER
UAL Corp., the parent of United Airlines, announced Friday that it will be purchased by its employees for $4.38 billion in a deal that will create the nation's largest worker-owned company. If the transaction is completed, shareholders will get cash and company IOUs valued at $201 a share. But employees, who must still ratify the agreement, will make some sacrifices; unions have promised $2 billion in wage and other concessions over the next five years.
Los Angeles Times Articles
|