August 30, 2001 |
Securities firm Thomas Weisel Partners is firing 80 employees, mostly in investment banking, on expectations that the slump in business at the technology-focused securities firm will continue into next year, a company spokesman said Wednesday. San Francisco-based Weisel plans to fire the employees, about 10% of its staff, this week to reduce costs as fees from advising on mergers and arranging initial public offerings dry up, a company spokesman said.
August 22, 2001 |
NextWave Telecom Inc. said Tuesday that it has received a $2.5-billion loan commitment from UBS Warburg to help build a wireless data transmission network, contingent upon the bankrupt carrier gaining control of disputed U.S. airwaves. The Hawthorne, N.Y.-based company, which won a similar $300-million commitment from Qualcomm Inc. last week, also hired the Swiss-owned investment bank to help complete a bankruptcy reorganization plan that might raise $5.5 billion.
May 30, 2002 |
Investment banker W.R. Hambrecht & Co. brought the latest initial public stock offering to market Wednesday, in another test of the bank's controversial "open-auction" IPO system. Overstock.com, a Salt Lake City firm that sells discounted electronics, sportswear and other products over the Internet, raised $39 million by selling three million shares at $13 each. The stock (ticker symbol: OSTK) will begin trading today on Nasdaq.
July 31, 2003 |
Mobile telephone operator Cingular Wireless agreed to buy some wireless-spectrum licenses from NextWave Telecom Inc. for about $1.4 billion, people familiar with the matter said. The sale, which must be approved by U.S. Bankruptcy Court, would give NextWave its first income from licenses that it won in Federal Communications Commission auctions in 1996. The U.S. Supreme Court in January rejected an FCC effort to reclaim them from NextWave.
June 8, 1999 |
Los Angeles-based brokerage firm Wedbush Morgan Securities will announce today a plan to sell initial public offerings to individual investors via the Internet. Wedbush Morgan plans to follow in the footsteps of high-profile upstarts such as Wit Capital Corp. and W.R. Hambrecht & Co., which have specialized in making IPOs available electronically to small investors. Previously, brokerage houses doled out coveted IPOs only to powerful institutional investors such as mutual funds.
December 9, 1999 |
The third time seemed to be the charm Wednesday for San Francisco investment bank W.R. Hambrecht & Co.'s innovative "OpenIPO" system, given the successful initial public offering sold by Acton, Mass.-based Andover.net Inc. through lead underwriter Hambrecht. Shares of Andover.net (ticker symbol: ANDN), which runs a network of Web sites about the Linux computer operating system and other so-called open-source software, more than tripled in their trading debut Wednesday on Nasdaq to close at $63.
June 6, 2001 |
Former Hewlett-Packard chief Lew Platt is ending his short second career at Kendall-Jackson Wine Estates as founder Jess Jackson has decided to take the company off the market. Platt, 60, was hired in January 2000 as chief executive to restructure the Santa Rosa, Calif.-based firm, one of the largest wineries in the country, and get it ready for a public offering or sale to a large international company that could further its global expansion plans.
May 16, 2000 |
In a move that signals more consolidation in the online banking business, Wit Capital Group Inc. agreed Monday to pay $328 million for an investment bank founded by online brokerage firm ETrade Group Inc., greatly increasing the number of first-time stock offerings available to ETrade's customers. The deal will allow Menlo Park, Calif.-based ETrade, with its 2.
June 12, 2001 |
EBay Inc., the world's biggest Internet auction house, took another step Monday toward transforming itself into an online shopping mall, offering high-volume sellers the opportunity to sell their products through their own cyber storefronts. Under the new plan, sellers can open an EBay store for $9.95 a month plus 5 cents per item listed. Once an item is sold, the seller would additionally pay the standard EBay commission, which starts at 5% for sales up to $25.