March 22, 1987 |
The end came hard for Ted Douglas Nelson. The day after he quit Knudsen Foods--the troubled dairy run by his family--his older brothers locked him out of his office and took away his company-owned Mercedes. "Do you know what?" asks a wounded Nelson, 37. "My brother Dee kept his car." Just five days after Nelson lost his car last September, his family lost control of its corporation and most of its fortune.
September 17, 1986 |
The new chairman of Winn Enterprises, the parent of ailing Knudsen Corp., said on Tuesday that his first task will be to "return harmony and maintain the viability" of the dairy products company. Daniel C. Montano, a Tustin investment broker and prominent Orange County Republican, acknowleged that Knudsen, which supplies more than 90% of Winn's revenue, is in financial trouble, but he said that its businesses were sound. "It has excellent products," he said.
September 3, 1986
Winn Enterprises, parent of the ailing Knudsen Foods dairy concern, announced the creation of an executive committee to function as chief executive of the Los Angeles-based parent. The three members of the committee are: Ted D. Nelson, formerly Winn chief executive; Nelson's half-brother, Dee R. Bangerter, a major Winn shareholder and member of its board of trustees, and Daniel Montano, a Winn trustee.
June 6, 1986 |
Shareholders of Care Enterprises, the nation's fourth-largest nursing home operator, approved a new corporate charter Thursday that one company founder contended will strip minority shareholders of their rights. By a margin of more than 2 to 1, holders of both classes of Care's common shares endorsed a plan to reincorporate the company in Delaware, adopting at the same time a series of changes designed to stymie hostile takeovers.
February 19, 1986
Winn Enterprises, which last month moved into the Los Angeles offices of its Knudsen Foods subsidiary, Tuesday reported deepening losses on improved revenues during the quarter and the nine-month period ended Dec. 31. The former Anaheim-based company posted a third-quarter loss of $4 million, compared to a loss of $1.1 million a year earlier. Revenues for the period more than doubled to $300.7 million from $129 million. For the nine months, Winn posted a net loss of $6.
January 22, 1986 |
Winn Enterprises, an Anaheim company that has rapidly expanded to become one of the largest dairy products processors in the nation, has moved its headquarters to Los Angeles. The move--the company's second in a year--was made to place Winn's senior executives closer to the company's wholly owned Knudsen Foods subsidiary, said Ted Nelson, Winn's co-chairman. Knudsen and its recently acquired Foremost Dairies unit account for about 95% of Winn's sales, he said.