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BUSINESS
May 12, 2006 | From Bloomberg News
Billionaire Carl Icahn lost at least $66 million when shares of a company he bet against soared, a regulatory filing indicates. American Real Estate Partners, Icahn's publicly traded holding company, "shorted" 2.5 million shares of a company in bankruptcy in late 2004, according to a filing with the Securities and Exchange Commission. Icahn borrowed and sold shares in anticipation they would fall. Instead, the stock climbed.
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BUSINESS
June 26, 2001 | Chicago Tribune
USG Corp. succumbed to multimillion-dollar asbestos claims, filing for Chapter 11 bankruptcy protection for the second time in the Chicago firm's 99-year history. The nation's No. 1 maker of wallboard became the eighth company in the last 18 months to turn to bankruptcy court to shield it from the financially debilitating effects of asbestos litigation. USG's major domestic subsidiaries also filed Chapter 11 petitions, including United States Gypsum Co., USG Interiors Inc. and L&W Supply Corp.
BUSINESS
January 12, 2001 | Reuters
Building-products manufacturer USG Corp. said it plans to take a $904-million pretax charge against its earnings in 2000 for costs associated with restructuring and with pending asbestos liability cases and lawsuits anticipated through 2003. The charge will reduce the company's earnings by $12.83 a share for the fourth quarter and by $12.11 for the year.
BUSINESS
November 28, 2000 | Bloomberg News
Warren Buffett continues to look to the building-materials business for bargains. Shares of USG Corp. (ticker symbol: USG) soared almost 30% on Monday after Buffett's Berkshire Hathaway Inc. reported holding a 14.98% stake in the biggest U.S. maker of wallboard. Chicago-based USG's shares jumped $4.44 to $19.38 after Berkshire disclosed its investment of 6.5 million shares in a Securities and Exchange Commission filing.
BUSINESS
June 5, 2001 | Reuters
Building materials maker USG Corp. said it is exploring strategic options, including a possible Chapter 11 bankruptcy filing, because of rising asbestos litigation costs and the slow progress of legislation that could control the costs. Chicago-based USG said lawyers for asbestos plaintiffs have sharply increased settlement demands in the wake of Chapter 11 filings by other companies. Its U.S.
BUSINESS
June 26, 2001 | Chicago Tribune
USG Corp. succumbed to multimillion-dollar asbestos claims, filing for Chapter 11 bankruptcy protection for the second time in the Chicago firm's 99-year history. The nation's No. 1 maker of wallboard became the eighth company in the last 18 months to turn to bankruptcy court to shield it from the financially debilitating effects of asbestos litigation. USG's major domestic subsidiaries also filed Chapter 11 petitions, including United States Gypsum Co., USG Interiors Inc. and L&W Supply Corp.
BUSINESS
May 4, 1988 | From Reuters
USG Corp. announced Tuesday that it has sued broker Merrill Lynch & Co., charging it with illegal use of confidential information in providing advice to USG's hostile bidder Desert Partners LP. Earlier, USG's shares jumped sharply in reaction to a recapitalization plan USG announced late Monday as it stepped up efforts to elude a takeover by Desert Partners. Shares of USG finished up $3.125 at $44.
BUSINESS
June 5, 2001 | Reuters
Building materials maker USG Corp. said it is exploring strategic options, including a possible Chapter 11 bankruptcy filing, because of rising asbestos litigation costs and the slow progress of legislation that could control the costs. Chicago-based USG said lawyers for asbestos plaintiffs have sharply increased settlement demands in the wake of Chapter 11 filings by other companies. Its U.S.
BUSINESS
January 12, 2001 | Reuters
Building-products manufacturer USG Corp. said it plans to take a $904-million pretax charge against its earnings in 2000 for costs associated with restructuring and with pending asbestos liability cases and lawsuits anticipated through 2003. The charge will reduce the company's earnings by $12.83 a share for the fourth quarter and by $12.11 for the year.
BUSINESS
November 28, 2000 | Bloomberg News
Warren Buffett continues to look to the building-materials business for bargains. Shares of USG Corp. (ticker symbol: USG) soared almost 30% on Monday after Buffett's Berkshire Hathaway Inc. reported holding a 14.98% stake in the biggest U.S. maker of wallboard. Chicago-based USG's shares jumped $4.44 to $19.38 after Berkshire disclosed its investment of 6.5 million shares in a Securities and Exchange Commission filing.
BUSINESS
May 3, 1988 | From Reuters
USG Corp., fighting to thwart a hostile takeover, said Monday that it will restructure and pay shareholders $42 a share in cash and debt securities plus stock in a newly recapitalized company. The plan is valued at $2.2 billion, USG said. The USG proposal follows a conditional new offer by Desert Partners LP over the weekend to boost its existing bid of $42 a share to $45, or $2.3 billion, if a friendly deal can be worked out.
BUSINESS
May 5, 1988 | Associated Press
Desert Partners presented USG Corp. with new takeover proposals valued at about $2.6 billion on Wednesday, seeking to head off a reorganization plan being pursued by the building materials company. In a letter to USG's board, Texas oilman Cyril Wagner Jr. of Desert Partners stressed that "the time has come for you to stop spending time and money in an effort to avoid discussing an acquisition of USG with us." Wagner, who heads Desert Partners with fellow oilman Jack E.
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