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BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,SUN STAFF | June 16, 1996
At the helm of a company that has resisted change, Stephen F. Bollenbach is full of surprises lately.The new chief executive of Hilton Hotels Corp. is breaking the rules both of a tradition-bound company and his own iconoclastic career. In a career marked by breaking up struggling companies to rebuild them, followed by moving on quickly, this time he is making bold bets to build on Hilton's existing businesses and saying he plans to stay for the rest of his career.On June 5, he agreed to bet a big chunk of Hilton's future on a $3 billion takeover of casino operator Bally Entertainment Corp.
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BUSINESS
By Bloomberg News | July 6, 2007
Stephen F. Bollenbach, chief executive officer of Hilton Hotels Corp., made sure his latest deal was his biggest. The 64-year-old Bollenbach agreed Tuesday to sell the company he's run since 1996 to Blackstone Group LP for $20 billion, a record in the hotel industry. When it's completed, he plans to step down as CEO of the second-biggest U.S. hotel chain. During his career, which included leading Marriott Corp. and overseeing Walt Disney Co.'s finances, the Los Angeles native has undertaken more than $52 billion in transactions, $32 billion at Hilton.
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BUSINESS
By Bloomberg News | July 6, 2007
Stephen F. Bollenbach, chief executive officer of Hilton Hotels Corp., made sure his latest deal was his biggest. The 64-year-old Bollenbach agreed Tuesday to sell the company he's run since 1996 to Blackstone Group LP for $20 billion, a record in the hotel industry. When it's completed, he plans to step down as CEO of the second-biggest U.S. hotel chain. During his career, which included leading Marriott Corp. and overseeing Walt Disney Co.'s finances, the Los Angeles native has undertaken more than $52 billion in transactions, $32 billion at Hilton.
BUSINESS
By BLOOMBERG NEWS | July 1, 1998
LOS ANGELES -- Hilton Hotels Corp., which has been searching for months for a merger or another way to boost its stock, said yesterday that it will split off its gambling unit into a separate company and merge it with part of Grand Casinos Inc.Hilton agreed to buy Grand Casinos' three hotels in Mississippi for $650 million in stock and $550 million in assumed debt, and merge the gaming businesses of those companies.Grand Casinos, based in Minnetonka, Minn., will spin off its Indian casino management business and other assets to its shareholders as part of the deal.
BUSINESS
By New York Times News Service | April 28, 1991
Stephen F. Bollenbach is a man who has spent much of his career untangling the financial problems of famous men.Mr. Bollenbach's latest task is to save something from the wobbly empire of Donald J. Trump. Last year, Mr. Bollenbach was brought in by the developer after Mr. Trump's creditors insisted that he hire a chief financial officer, a position that had never existed at the Trump Organization.Mr. Bollenbach has helped plot the less-than-enviable strategy of jettisoning some of the developer's big assets.
BUSINESS
By Kim Clark and Kim Clark,Staff Reporter | October 6, 1994
Stephen F. Bollenbach, the mastermind of Marriott Corp.'s controversial split into healthy and debt-laden companies, angrily insisted yesterday that he hadn't misled bondholders about the division.At the end of a key day of testimony in Baltimore's U.S. District Court, Mr. Bollenbach finally exploded at an attorney representing the bondholders, who have sued Marriott for securities fraud.Eleven bondholders are charging that Marriott executives sold $400 million in bonds in late April 1992, while they already knew that they were going to divide the company and assign the bonds to the debt-laden successor, thus cutting their value.
BUSINESS
By Bloomberg Business News | December 28, 1993
WASHINGTON -- Stephen F. Bollenbach, the chief executive who led Host Marriott Corp. through a tortuous restructuring effort, received a stock bonus of 7 million restricted shares earlier this year.The award, which has a current market value of about $61 million, is one of the largest ever given to an executive at a public company, one compensation expert said. In 1991, Coca-Cola Co. awarded Chairman and Chief Executive Officer Roberto Goizueta 1 million shares of restricted stock that, adjusted for a May 1992 stock split, have a market value of about $88 million.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,Sun Staff Writer | April 5, 1995
Host Marriott Corp. announced yesterday that company President and Chief Executive Stephen F. Bollenbach would resign to assume a top post with the Walt Disney Co.As senior executive vice president and chief financial officer of the entertainment conglomerate, Mr. Bollenbach is expected to provide broad business experience and help shore up Disney's recent high-profile management losses, analysts said."
BUSINESS
By BLOOMBERG NEWS | July 1, 1998
LOS ANGELES -- Hilton Hotels Corp., which has been searching for months for a merger or another way to boost its stock, said yesterday that it will split off its gambling unit into a separate company and merge it with part of Grand Casinos Inc.Hilton agreed to buy Grand Casinos' three hotels in Mississippi for $650 million in stock and $550 million in assumed debt, and merge the gaming businesses of those companies.Grand Casinos, based in Minnetonka, Minn., will spin off its Indian casino management business and other assets to its shareholders as part of the deal.
BUSINESS
By Bloomberg Business News | February 6, 1994
NEW YORK -- Host Marriott Corp., in an attempt to boost profits and reduce competition, wants to sell its low-priced hotels and buy luxury hotels, resorts, and suites, said Stephen Bollenbach, chief executive and president.And Host Marriott, created last October in the split of the old Marriott Corp., has a $1 billion kitty for acquisitions."We hope to look like a company that has a collection of full-service hotels in markets where it's hard to duplicate those hotels," Mr. Bollenbach said in an interview.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,SUN STAFF | June 16, 1996
At the helm of a company that has resisted change, Stephen F. Bollenbach is full of surprises lately.The new chief executive of Hilton Hotels Corp. is breaking the rules both of a tradition-bound company and his own iconoclastic career. In a career marked by breaking up struggling companies to rebuild them, followed by moving on quickly, this time he is making bold bets to build on Hilton's existing businesses and saying he plans to stay for the rest of his career.On June 5, he agreed to bet a big chunk of Hilton's future on a $3 billion takeover of casino operator Bally Entertainment Corp.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,Sun Staff Writer | April 5, 1995
Host Marriott Corp. announced yesterday that company President and Chief Executive Stephen F. Bollenbach would resign to assume a top post with the Walt Disney Co.As senior executive vice president and chief financial officer of the entertainment conglomerate, Mr. Bollenbach is expected to provide broad business experience and help shore up Disney's recent high-profile management losses, analysts said."
BUSINESS
By Kim Clark and Kim Clark,Staff Reporter | October 6, 1994
Stephen F. Bollenbach, the mastermind of Marriott Corp.'s controversial split into healthy and debt-laden companies, angrily insisted yesterday that he hadn't misled bondholders about the division.At the end of a key day of testimony in Baltimore's U.S. District Court, Mr. Bollenbach finally exploded at an attorney representing the bondholders, who have sued Marriott for securities fraud.Eleven bondholders are charging that Marriott executives sold $400 million in bonds in late April 1992, while they already knew that they were going to divide the company and assign the bonds to the debt-laden successor, thus cutting their value.
BUSINESS
By Bloomberg Business News | December 28, 1993
WASHINGTON -- Stephen F. Bollenbach, the chief executive who led Host Marriott Corp. through a tortuous restructuring effort, received a stock bonus of 7 million restricted shares earlier this year.The award, which has a current market value of about $61 million, is one of the largest ever given to an executive at a public company, one compensation expert said. In 1991, Coca-Cola Co. awarded Chairman and Chief Executive Officer Roberto Goizueta 1 million shares of restricted stock that, adjusted for a May 1992 stock split, have a market value of about $88 million.
BUSINESS
By New York Times News Service | April 28, 1991
Stephen F. Bollenbach is a man who has spent much of his career untangling the financial problems of famous men.Mr. Bollenbach's latest task is to save something from the wobbly empire of Donald J. Trump. Last year, Mr. Bollenbach was brought in by the developer after Mr. Trump's creditors insisted that he hire a chief financial officer, a position that had never existed at the Trump Organization.Mr. Bollenbach has helped plot the less-than-enviable strategy of jettisoning some of the developer's big assets.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | September 29, 1995
Host Marriott Corp. announced yesterday that its executive vice president and chief financial officer resigned from the Bethesda-based hotel company, less than two months after being passed over for the top post there.Matthew J. Hart's departure for a job as senior vice president and treasurer of the Walt Disney Co. follows the same path taken by Stephen F. Bollenbach in April. Mr. Bollenbach, the former nTC chief executive of Host Marriott, left to become Disney's chief financial officer.
BUSINESS
By Kim Clark and Kim Clark,Sun Staff Writer | September 27, 1994
For the 10-person federal jury picked yesterday, the securities fraud lawsuit against hotel giant Marriott Corp. will hinge on one basic question:Is a top Marriott executive telling the truth when he says he came up with the idea to split Marriott in two -- driving the price of its bonds down by almost 30 percent -- only after he helped sell $400 million worth of bonds to investors?In opening statements for the $18 million federal lawsuit filed by 11 large bondholders against Marriott in Baltimore's U.S. District Court, attorney Lawrence Kill said yesterday he will present evidence that former Marriot Chief Financial Officer Stephen F. Bollenbach knew he wanted to divide the company weeks before he helped Marriott sell the bonds in April 1992.
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