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BUSINESS
December 3, 2013 | By Stuart Pfeifer
Huntington Beach surf apparel company Quiksilver Inc. said it sold its snowboard subsidiary, Mervin Manufacturing, for $58 million and plans to sell other non-core businesses as it refocuses its strategy on its top-selling brands. Quiksilver Chief Executive Andy Mooney said the downsizing will enable the company to concentrate on its three core brands - Quiksilver, Roxy and DC Shoes. He said the planned unloading of Surfdome Shops Ltd., Hawk Designs Inc. and its Moskova brand are part of the changes.
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BUSINESS
December 3, 2013 | By Stuart Pfeifer
Huntington Beach surf apparel company Quiksilver Inc. said it sold its snowboard subsidiary, Mervin Manufacturing, for $58 million and plans to sell other non-core businesses as it refocuses its strategy on its top-selling brands. Quiksilver Chief Executive Andy Mooney said the downsizing will enable the company to concentrate on its three core brands - Quiksilver, Roxy and DC Shoes. He said the planned unloading of Surfdome Shops Ltd., Hawk Designs Inc. and its Moskova brand are part of the changes.
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BUSINESS
February 11, 1997
Laser manufacturer Trimedyne Inc. said Monday that it has completed the sale of its 90% owned subsidiary Poly-Optical Products Inc. for cash to privately held Remote Source Lighting International Inc., in Raleigh, N.C. Trimedyne expects to record a gain of about $700,000 in the current quarter as a result of the sale. Poly-Optical manufactures plastic fiber-optic devices in the automotive, industrial and medical fields.
BUSINESS
August 5, 2013 | Catherine Green
Edison International, the parent company of Southern California Edison, has had its hands full with the bankruptcy of a subsidiary and the shutdown of the San Onofre Nuclear Generating Station. Now, it is overhauling its operations. The Rosemead company, which oversees the utility that provides power through much of Southern California, began as Los Angeles Edison Electric Co. in 1894 when Visalia streetlight provider Holt & Knupps merged with Electric Light Works. The company has long since branched out beyond its primary utility, establishing power producer Edison Mission Energy, investment arm Edison Capital and coal subsidiary Midwest Generation.
REAL ESTATE
September 1, 1985
Tiger Construction Corp. has been formed as a new subsidiary of Tishman Realty Construction Co. Inc., to specialize in complete construction management services for major department stores, shopping centers and other retail outlets. John L. Tishman and Irwin Miller will serve, respectively, as chairman and president of Tiger Construction with Israel Gerber named executive vice president. The subsidiary will be based at Tishman Realty's Los Angeles headquarters.
BUSINESS
May 9, 1985
Kaiser Aluminum & Chemical agreed in principle to sell Kaiser International, a trading subsidiary, and two fertilizer plants to an investor group that includes Thomas K. Singer, president of Kaiser International. Terms weren't disclosed, but Kaiser said the sale won't have a material impact on earnings.
BUSINESS
April 7, 1987
Ultrasystems Inc. said its Ultrasystems Defense & Space Inc. subsidiary was awarded about $8.8 million worth of new contracts and contract extensions by the Department of Defense. The contracts involve systems engineering and computer simulation programs. Irvine-based Ultrasystems Inc. is a high-technology engineering company involved with numerous defense and space systems projects. The company also develops, engineers, owns and operates electrical power-generation facilities.
BUSINESS
August 19, 1999
Vince Nubel has joined Mariner Networks Inc., a subsidiary of Anaheim-based Odetics Inc., as director of channels management. He was formerly national reseller manager at PairGain Technologies Inc. and, before that, vice president and general manager for Symbol Express. Jeffrey Leckich has been selected to run the day-to-day operations of Newport Beach-based Squar, Milner & Reehl LLP's new Real Estate Services division. In addition, Jim Bone has joined the accounting and financial services firm as director, state and local taxes.
BUSINESS
January 1, 1987
American Pacesetter, a Newport Beach holding company, said it sold its American Electronics Inc. subsidiary to that firm's Fullerton managers for an undisclosed amount. American Pacesetter said it expects to realize an after-tax gain of approximately $1 million on the transaction. Richard F. Holland, who becomes American Electronics' principal shareholder, will continue as president of the electromechanical equipment manufacturing company. In a prepared statement, John W.
BUSINESS
September 11, 1986 | ROBERT HANLEY, Times Staff Writer
Ultrasystems Inc. said Wednesday that it plans to take its Defense and Space Systems subsidiary public in an initial offering expected to raise more than $10 million for the Irvine-based engineering and construction firm. Phillip Stevens, Ultrasystems' president, said the company plans to file a preliminary prospectus with the Securities and Exchange Commission next week. The offering--1.2 million shares of Ultrasystems Defense and Space Systems Inc.
BUSINESS
July 18, 2013 | By Marc Lifsher
SACRAMENTO - Southern California Edison Co. has started legal action against the manufacturer of steam generators that failed and forced the permanent closure in June of the San Onofre nuclear power plant on the northern San Diego County coast. As expected, the electric utility filed a formal notice of dispute early Thursday with Mitsubishi Heavy Industries of Japan and its United States subsidiary, Mitsubishi Nuclear Energy Systems. The action sets in motion negotiations that involve finding fault and assessing financial damages.
BUSINESS
July 12, 2013 | By Andrea Chang
Seeking a foothold in the competitive prepaid wireless market, AT&T Inc. has agreed to acquire Leap Wireless International Inc. in a deal valued at about $1.2 billion. AT&T, the nation's second-largest wireless carrier, had been rumored to be in talks with San Diego-based Leap since last year. The purchase is the latest acquisition in an industry that has seen major changes in recent months. Leap, through its Cricket subsidiary, has roughly 5 million subscribers nationwide. It offers low-cost, no-contract prepaid wireless plans and cellphones.
BUSINESS
April 22, 2013 | By Tiffany Hsu
Ralph Lauren Corp., the American maker of luxurious preppy fashions, will pay $1.6 million to settle bribery claims related to its dealings in Argentina. In a 2010 internal review, the clothing company uncovered evidence of a subsidiary bribing Argentine officials to the tune of $593,000 over four years, the U.S. Securities and Exchange Commission said in a statement . Within two weeks of the discovery, Ralph Lauren reported the violations to the regulatory agency, offering up relevant documents translated into English, even bringing foreign witnesses to the U.S. for interviews, according to the SEC. Its cooperation with authorities -- “the right thing” to do, according to the agency -- helped the New York-based company avoid prosecution, the SEC said.
BUSINESS
November 20, 2012 | Bloomberg News
Federal energy regulators continued their crackdown on manipulation of California's energy market, ordering a Florida firm to pay a fine of $2.5 million and disgorge unjust profits of $911,553 plus interest. On Monday, the Federal Energy Regulatory Commission approved a settlement with Florida energy company Gila River Power, a subsidiary of Entegra Power Group, to pay the fine and penalties. The agreement marked the first time a market participant has admitted to a violation of the federal commission's anti-manipulation rule in an energy trading case, the commission said.
ENTERTAINMENT
August 3, 2012 | By Todd Martens, Los Angeles Times
Angel City Brewing's head brewer, Dieter Foerstner, doesn't need a history lesson on the once-great legacy of beer-making in Los Angeles. During World War I, his great-grandfather brewed for the Los Angeles Brewing Co., which was formed in 1897 and was once the nation's fifth-largest producer. "I was looking for my pop's old recipes, but my great uncle said they never wrote them down," Foerstner said. No matter, as Angel City Brewing under Foerstner is itself undergoing a fresh start.
BUSINESS
May 30, 2012 | By Shan Li, Los Angeles Times
Retail giant Wal-Mart Stores Inc. is facing a wave of protests this week pushing for company leadership changes at its annual meeting Friday. The goal of protesters, organizers said, is to oust some Wal-Mart board members and push for more corporate transparency in the wake of allegations of widespread bribery in the company's Mexican subsidiary. Among the protests is a parade Thursday in Washington, D.C., planned by community activists and some Wal-Mart employees. Wal-Mart did not respond to requests for comment on the protests.
BUSINESS
November 2, 1991
3M Co. said it has established a subsidiary in Czechoslovakia. The Prague-based company joins 3M Hungaria in Budapest, Hungary, as 3M's second subsidiary in Eastern Europe.
BUSINESS
February 13, 1988 | JOHN TIGHE, Times Staff Writer
Silvercrest Industries said Friday that it has agreed to sell the assets of its lumber subsidiary to Eadington Cos. in Fullerton for $3.1 million. Silvercrest, a Santa Ana-based manufacturer of mobile and modular homes, said it will receive $1 million in cash plus a $1-million, 5-year note. And Eadington, a private holding company whose operations include a fruit business, will assume the subsidiary's $1.1 million in debt.
BUSINESS
May 1, 2012 | By Andrea Chang and David Sarno, Los Angeles Times
Barnes & Noble Inc.'s prospects against rivals Amazon.com Inc. and Apple Inc. in the fast-growing digital reader business just got a big lift thanks to a $605-million investment from Microsoft Corp. For the nation's No. 1 bookstore chain, the infusion will help its Nook business better compete against the top-selling Kindle e-reader and iPad tablet computer and relieves some of the pressure on Barnes & Noble to turn a profit on the Nook. It's also a good deal for Microsoft, which is spending barely 1% of its $60-billion cash reserve to gain a bigger presence in the e-reader and tablet markets ahead of the widely anticipated launch of its Windows 8 operating software later this year.
BUSINESS
April 22, 2012 | By Hugo Martin
Southwest Airlines, which has pummeled its competitors with an advertising campaign boasting that “bags fly free,” will continue to charge a checked bag fee at its subsidiary AirTran Airways at least until 2014. Southwest Chief Executive Gary Kelly said a full integration between Southwest and the airline it purchased in 2010 will not be completed for another two years. Until then, he said, AirTran will continue to collect checked bag fees and reservation change charges, even though Southwest makes a point in television commercials and online ads of slamming its competitors for charging such fees.
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