January 14, 2011 |
Treasury Secretary Timothy F. Geithner says the government "remains optimistic that taxpayers will get back every dollar of their investment in AIG. " Bailed-out insurance giant American International Group Inc. moved closer to repaying the government for its rescue by completing a stock-conversion deal with the Treasury Department on Friday ? a key to unwinding the federal stake in the company. Treasury converted the preferred shares in AIG it received as part of the complex bailout into 1.655 billion shares of common stock, increasing the government's ownership stake to 92% from 80%. The department plans to sell the shares over time to recoup its investment, now estimated at $68 billion, and end taxpayer support of the company.
August 19, 2010 |
The market for credit default swaps on California bonds, allowing investors essentially to take out an insurance policy on the state's debt, has grown sharply in the last two years. Here is how a swap deal works, according to Marc Barrachin, the director or credit products at Markit, a financial data company. If an investor such as a hedge fund, Hedge Fund A in Barrachin's example, believes that California is going to have difficulty repaying its debt, it can go to a Wall Street firm that deals in municipal credit default swaps.
May 24, 2013 |
Procter & Gamble Co. wants to make something clear to investors: The replacement of Chief Executive Bob McDonald with his predecessor A.G. Lafley is not a death knell for the company. Far from it, said Chief Financial Officer Jon R. Moeller in a short conference call Friday, a day after the consumer goods giant announced that McDonald would retire on June 30. The shift, effective immediately, “is not indicative of any kind of bigger problem or financial issue,” Moeller said.
March 31, 1985
A 70,000-square-foot warehouse at 3485 S. La Cienega Blvd. has been sold for $3.4 million to Carol and Robert Goldman in a transaction negotiated for the seller, 3485 S La Cienega Ltd., by Westside Commercial Brokerage Co. The property will be used for swap meets.
June 16, 1985
In an effort to defuse a controversy that might cause revocation of a permit allowing swap meets at its Edwards Drive-in Theater near Arcadia, Edwards Cinemas has purchased property for off-street parking. Residents of the unincorporated county area and parishioners from a nearby church have registered numerous complaints about traffic and parking problems stemming from the meet, which is open from 6:30 a.m. to 4 p.m. Saturdays, Sundays and holidays.
December 12, 1986 |
Patty Williams wasn't disappointed when she drove from Corona searching for just the right dress to wear to holiday parties. "Oh, I knew they'd have (it) here," she said as she tried on an imported beaded dress at the swap meet at the Orange County Fairgrounds. Modeling in front of a full-length mirror hanging from a tent pole, Williams was one of several women trying on the dresses and furs offered by Kay James, who has been operating an outlet at the swap meet for 10 years.