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Stock Transfers

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BUSINESS
December 24, 1985
The Securities and Exchange Commission charged that U.S. Steel, which is a registered transfer agent, failed to turn around within three business days at least 90% of its routine stock transfers within any given month from January, 1983, through February, 1984. Without admitting or denying any wrongdoing, the company agreed to hire an accounting firm to verify its compliance with transfer-agent rules.
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BUSINESS
April 8, 2002
Executive Roundtable is a weekly column by TEC Worldwide, an international organization of more than 7,000 business owners, company presidents and chief executives. TEC members meet in small peer groups to share their business experiences and help one another solve problems in a round-table session. The following question and answer are a summary of a discussion at a recent TEC meeting in Southern California.
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NEWS
February 15, 2000 | P.J. HUFFSTUTTER, TIMES STAFF WRITER
Instead of checks and cash donations, churches and other charities are increasingly seeing their coffers filled with the currency of the Information Age--stocks of highflying technology companies. The surge in stock donations has occurred as many more households have come to own stock and have become wealthier as a result of the long bull market. Beneficiaries of the nation's high-tech boom have been leading the stock-giving.
BUSINESS
June 23, 2000 | Dow Jones
Tustin biotech company Techniclone Corp. said Thursday it will issue about $3 million in common stock to Germany-based Schering AG to cover projected expenses of clinical trials of Oncolym, a Techniclone drug to treat non-Hodgkin's lymphoma. Schering's U.S. unit, Berlex Laboratories, will begin Phase I trials to measure the safety and effectiveness of a single dose of Oncolym in intermediate and high-grade non-Hodgkin's lymphoma, Techniclone said Thursday.
NEWS
June 10, 1999 | PAUL J. LIM
A growing number of mutual funds are imposing redemption fees on short-term investors in an effort to deter them from churning their shares and wreaking havoc on the funds. While the absolute number of funds imposing such fees remains modest--311 of the estimated 5,000 stock funds available--that figure shot up nearly 50% between December 1997 and April 1999, according to a new study by Boston-based Financial Research Corp. And the number continues to grow.
BUSINESS
June 14, 1991 | From Times Staff and Wire Reports
Bank of America said it has agreed to sell its stock transfer business to Manufacturers Hanover Trust Co. of California for an undisclosed price. Bank of America, the nation's second largest bank, said it was uncertain how many of the stock transfer business's 120 employees would keep their jobs.
NEWS
June 28, 1991 | From Associated Press
The government announced Thursday that it plans to transfer one-quarter of all state industry to private hands within six months by giving stock to every Polish adult citizen. The plan must be approved by Parliament. Under it, five to 20 stock funds will be created and run under the auspices of foreign investment management companies, and Poles will be a granted a share in every fund.
BUSINESS
October 1, 1992 | MICHAEL PARRISH, TIMES STAFF WRITER
Chevron Corp. will buy back $1.17 billion worth of its own stock from Pennzoil Co. in exchange for some Gulf of Mexico oil and gas fields, the companies said Wednesday. The deal solves a number of problems for both parties. It will enable Chevron to trim its U.S. oil-production business while reducing unease over Pennzoil's intentions as owner of almost 10% of San Francisco-based Chevron.
BUSINESS
January 1, 1999 | DARYL STRICKLAND and JOHN O'DELL, TIMES STAFF WRITERS
Real estate magnate William Lyon, moving to consolidate his home-building empire, agreed Thursday to acquire a dominant interest in financially ailing Presley Cos., one of Southern California's largest home builders. Under the complex deal, Presley would acquire Lyon's privately held firm, William Lyon Homes Inc., for $48 million, or about twice the book value of Lyon's home-building company. In turn, Lyon Homes offered to purchase 40% to 49% of Presley's stock at 62 cents per share.
BUSINESS
June 23, 2000 | Dow Jones
Tustin biotech company Techniclone Corp. said Thursday it will issue about $3 million in common stock to Germany-based Schering AG to cover projected expenses of clinical trials of Oncolym, a Techniclone drug to treat non-Hodgkin's lymphoma. Schering's U.S. unit, Berlex Laboratories, will begin Phase I trials to measure the safety and effectiveness of a single dose of Oncolym in intermediate and high-grade non-Hodgkin's lymphoma, Techniclone said Thursday.
NEWS
February 15, 2000 | P.J. HUFFSTUTTER, TIMES STAFF WRITER
Instead of checks and cash donations, churches and other charities are increasingly seeing their coffers filled with the currency of the Information Age--stocks of highflying technology companies. The surge in stock donations has occurred as many more households have come to own stock and have become wealthier as a result of the long bull market. Beneficiaries of the nation's high-tech boom have been leading the stock-giving.
NEWS
June 10, 1999 | PAUL J. LIM
A growing number of mutual funds are imposing redemption fees on short-term investors in an effort to deter them from churning their shares and wreaking havoc on the funds. While the absolute number of funds imposing such fees remains modest--311 of the estimated 5,000 stock funds available--that figure shot up nearly 50% between December 1997 and April 1999, according to a new study by Boston-based Financial Research Corp. And the number continues to grow.
BUSINESS
January 1, 1999 | DARYL STRICKLAND and JOHN O'DELL, TIMES STAFF WRITERS
Real estate magnate William Lyon, moving to consolidate his home-building empire, agreed Thursday to acquire a dominant interest in financially ailing Presley Cos., one of Southern California's largest home builders. Under the complex deal, Presley would acquire Lyon's privately held firm, William Lyon Homes Inc., for $48 million, or about twice the book value of Lyon's home-building company. In turn, Lyon Homes offered to purchase 40% to 49% of Presley's stock at 62 cents per share.
BUSINESS
July 15, 1997 | BARBARA MURPHY
The board of directors of PerfectData Corp. in Simi Valley has authorized the distribution to shareholders of one share of Staruni Corp. for every four shares of PerfectData. Fractional shares will be rounded off to the nearest whole number. The distribution date has been set for Aug. 14 to shareholders of record July 17. PerfectData owns about 1 million shares of Staruni, or about 50% of the company.
BUSINESS
October 1, 1992 | MICHAEL PARRISH, TIMES STAFF WRITER
Chevron Corp. will buy back $1.17 billion worth of its own stock from Pennzoil Co. in exchange for some Gulf of Mexico oil and gas fields, the companies said Wednesday. The deal solves a number of problems for both parties. It will enable Chevron to trim its U.S. oil-production business while reducing unease over Pennzoil's intentions as owner of almost 10% of San Francisco-based Chevron.
NEWS
June 28, 1991 | From Associated Press
The government announced Thursday that it plans to transfer one-quarter of all state industry to private hands within six months by giving stock to every Polish adult citizen. The plan must be approved by Parliament. Under it, five to 20 stock funds will be created and run under the auspices of foreign investment management companies, and Poles will be a granted a share in every fund.
BUSINESS
July 15, 1997 | BARBARA MURPHY
The board of directors of PerfectData Corp. in Simi Valley has authorized the distribution to shareholders of one share of Staruni Corp. for every four shares of PerfectData. Fractional shares will be rounded off to the nearest whole number. The distribution date has been set for Aug. 14 to shareholders of record July 17. PerfectData owns about 1 million shares of Staruni, or about 50% of the company.
BUSINESS
May 10, 1988
Michael McGovern--the founder of Alpharel in Camarillo--said he has transferred 150,000 of his shares in the troubled data storage firm to Eatherton & Co. in Denver. The stock transfer was a payment for consulting services Eatherton provided to McGovern, who was considering launching a proxy battle to regain control of the company after being ousted as its chairman. McGovern dropped his plans in April after he and the company reached agreement.
BUSINESS
June 14, 1991 | From Times Staff and Wire Reports
Bank of America said it has agreed to sell its stock transfer business to Manufacturers Hanover Trust Co. of California for an undisclosed price. Bank of America, the nation's second largest bank, said it was uncertain how many of the stock transfer business's 120 employees would keep their jobs.
NEWS
October 20, 1989 | JOHN J. GOLDMAN, TIMES STAFF WRITER
Manhattan Borough President David N. Dinkins has built a big lead in public opinion polls as he pursues his bid to become New York's first black mayor. But less than three weeks before the election, his campaign suddenly is facing its first sustained stretch of politically stormy weather. Reporters are questioning a stock transfer to his son and his campaign's payment of $9,500 in primary day "walking around money" to a controversial community activist with a criminal record.
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