Advertisement
HomeCollectionsCendant
IN THE NEWS

Cendant

FEATURED ARTICLES
BUSINESS
By BLOOMBERG NEWS | August 22, 2004
Cendant Corp., the largest U.S. travel and real estate services company, said last week that it ended talks with a potential buyer of its mortgage business. Cendant will talk with other possible buyers of the unit as well as consider "strategic alternatives," the New York-based company said in a statement. It didn't name the potential buyer or why the talks collapsed. Cendant said last month it was in talks to sell the unit for as much as $1 billion. Chief executive Henry Silverman, 64, is divesting businesses that are secondary to Cendant's main real estate and travel units.
ARTICLES BY DATE
BUSINESS
By JAY HANCOCK and JAY HANCOCK,SUN COLUMNIST | July 19, 2006
Taking on an accounting project and defending against shareholder lawsuits probably weren't what A.B. "Buzzy" Krongard anticipated when he re-entered the public spotlight last year from the shadows of the CIA. But that's what he's gotten as chairman of PHH Corp., an ungainly chimera of a company that can't close the books on last year or the first quarter and doesn't know when it can. Combine that with an increasingly difficult mortgage market - PHH's biggest business - and you've got a challenge that belies the "retirement" that Krongard, 69, is supposed to be enjoying.
Advertisement
BUSINESS
By BLOOMBERG NEWS | July 1, 2006
NEW YORK -- Cendant Corp., the travel-services company that never fully recovered from an accounting scandal nine years ago, agreed yesterday to sell the division that includes its Orbitz Web site to the Blackstone Group for $4.3 billion. Cendant's shares had their biggest gain in two months after the travel provider made progress on its plan to break itself into four separate companies. The shares rose 52 cents, or 3.3 percent, to close at $16.29 on the New York Stock Exchange. They have fallen 5.6 percent this year.
BUSINESS
By BLOOMBERG NEWS | July 1, 2006
NEW YORK -- Cendant Corp., the travel-services company that never fully recovered from an accounting scandal nine years ago, agreed yesterday to sell the division that includes its Orbitz Web site to the Blackstone Group for $4.3 billion. Cendant's shares had their biggest gain in two months after the travel provider made progress on its plan to break itself into four separate companies. The shares rose 52 cents, or 3.3 percent, to close at $16.29 on the New York Stock Exchange. They have fallen 5.6 percent this year.
BUSINESS
By BLOOMBERG NEWS | August 13, 1998
PARSIPPANY, N.J. -- Cendant Corp. said yesterday that it has hired Credit Suisse First Boston to sell its consumer software business and has agreed to sell an Internet publishing unit for about $510 million in cash and stock.The company said its software group, one of the world's largest makers of personal computer programs for consumers, could be sold in an initial public offering or to a third party. Two of its parts, Sierra On-Line Inc. and Davidson & Associates Inc., were acquired two years ago for $1.9 billion in stock.
BUSINESS
By BLOOMBERG NEWS | March 19, 1999
NEW YORK -- Cendant Corp. settled a class action suit with investors yesterday who said the franchiser of hotels, real estate and car rentals offered securities under a misleading prospectus that contained accounting irregularities.Holders of Preferred Redeemable Increased Dividend Equity Securities, or Prides, will receive rights to buy new Prides each valued at $17.57 more than their current Prides, Cendant said.The new Prides will convert into Cendant common shares at a specified price in 2001.
BUSINESS
By BLOOMBERG NEWS | April 16, 1998
STAMFORD, Conn. -- Cendant Corp., one of the nation's biggest direct marketers, said yesterday that it has discovered accounting irregularities that will cut its 1997 earnings by as much as $115 million.The company, which owns brands including Avis car rentals and Howard Johnson hotels, said it will reduce last year's profits by $100 million to $115 million, or 11 cents to 13 cents a share. Cendant, parent of Hunt Valley-based PHH Corp. and real estate brokerage O'Conor, Piper & Flynn, previously reported 1997 earnings before special charges of $872 million, or $1 a share.
BUSINESS
By BLOOMBERG NEWS | March 17, 1998
STAMFORD, Conn. -- Cendant Corp. yesterday boosted its offer for American Bankers Insurance Group Inc. 16 percent to $3.1 billion in an attempt to wrest the credit insurer from rival bidder American International Group Inc.The move is the latest salvo in a battle pitting Cendant President and Chief Executive Henry Silverman against AIG Chairman Maurice Greenberg.Cendant wants Miami-based American Bankers' credit insurance products to add to a panoply of services and goods such as lodging, car rental and real estate brokerage it markets directly to consumers.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | May 6, 1998
Continuing efforts to calm investors, Cendant Corp. said yesterday that "preliminary" first-quarter earnings topped Wall Street's estimates.The company reported preliminary first-quarter net income of $229.5 million, or 26 cents per share. The consensus estimate by Wall Street analysts was 25 cents. The earnings statement omitted results from the year-ago quarter.The huge service company also postponed its annual meeting -- originally scheduled for May 19 -- while it assesses the damage to earnings caused by "potential accounting irregularities" discovered last month.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | April 18, 1998
Cendant Corp. shares recovered slightly yesterday as the company sought to control the damage caused by its disclosure earlier this week that accounting irregularities will cut as much as $115 million from last year's earnings.The rapidly growing service and direct-marketing company said yesterday that it had fired Cosmo Corigliano, the former chief financial officer of CUC International Inc., one of two companies that joined to form Cendant in December.Corigliano was one of three CUC executives who last week said they would leave the company.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | February 1, 2005
Cendant Corp. said yesterday that it completed the spinoff of its mortgage and locally based PHH Arval fleet management businesses to shareholders. Stock in the newly combined company, called PHH Corp., is expected to start trading today on the New York Stock Exchange under the symbol "PHH." It's unclear whether the spinoff will have any immediate impact on PHH Mortgage, formerly Cendant Mortgage, based in Mount Laurel, N.Y., and PHH Arval, the fleet management services business based in Sparks.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | October 13, 2004
Cendant Corp. will spin off its mortgage and locally based PHH Arval fleet-services businesses to shareholders, a move the parent says should benefit investors while causing little in the way of fallout for the company's large Baltimore County work force. PHH Arval is based in Sparks, where it employs about 1,000. "There will be no impact to the employees based down there" in Maryland, said Elliot Bloom, a spokesman for Cendant in New York. That unit "will continue operating as PHH Arval, and there will be no impact to it."
BUSINESS
By Kathy Bergen and Kathy Bergen,CHICAGO TRIBUNE | September 30, 2004
The formal announcement yesterday that Cendant Corp., the world's largest hotel franchiser, will buy Orbitz Inc. of Chicago for $1.25 billion should result in a marketing boost for the nation's third-largest online travel agency and a cash infusion for the five major airlines that founded the company. "We had a strategic goal to be a leader in online travel for consumers and corporations, and we had our own smaller business, but this leapfrogs us into a leadership position in the industry," said Samuel L. Katz, Cendant's chairman and chief executive officer.
BUSINESS
By BLOOMBERG NEWS | August 22, 2004
Cendant Corp., the largest U.S. travel and real estate services company, said last week that it ended talks with a potential buyer of its mortgage business. Cendant will talk with other possible buyers of the unit as well as consider "strategic alternatives," the New York-based company said in a statement. It didn't name the potential buyer or why the talks collapsed. Cendant said last month it was in talks to sell the unit for as much as $1 billion. Chief executive Henry Silverman, 64, is divesting businesses that are secondary to Cendant's main real estate and travel units.
BUSINESS
July 25, 2004
Cendant is in talks to sell mortgage unit for up to $1 billion Cendant Corp., the largest U.S. travel and real estate services company, is in talks to sell its mortgage unit for as much as $1 billion to focus on the hotel and brokerage businesses, executives said last week. Cendant didn't identify the potential buyer for the unit. The sale would allow Cendant to continue to participate in the mortgage business through its residential real estate and relocation business, the New York-based company said in a statement.
BUSINESS
By Mary Umberger and Mary Umberger,CHICAGO TRIBUNE | April 4, 2004
Cendant Corp. is the biggest company you've probably never heard of. Even its executives acknowledge that. But the average consumer will recognize the names of some of its real estate businesses - Coldwell Banker Residential Brokerage, Century 21 and ERA - that blanket the United States and the globe. The three "brands" were collectively involved in one-quarter of the nation's agent-assisted home sales last year, a record year when 6.1 million existing homes changed hands, according to the corporation, based in New York City.
BUSINESS
By Mary Umberger and Mary Umberger,CHICAGO TRIBUNE | April 4, 2004
Cendant Corp. is the biggest company you've probably never heard of. Even its executives acknowledge that. But the average consumer will recognize the names of some of its real estate businesses - Coldwell Banker Residential Brokerage, Century 21 and ERA - that blanket the United States and the globe. The three "brands" were collectively involved in one-quarter of the nation's agent-assisted home sales last year, a record year when 6.1 million existing homes changed hands, according to the corporation, based in New York City.
BUSINESS
By BLOOMBERG NEWS | November 3, 2000
NEW YORK - Cendant Corp., which franchises everything from Ramada hotels to the Avis car rental brand, said yesterday that it agreed to buy Fairfield Communities, the nation's largest independent timeshare operator, for $728.5 million in cash, stock and assumed debt. Cendant will pay $15 a share, or $635 million, for each of Fairfield's shares, a 14 percent premium to the company's closing share price yesterday. Cendant also will assume about $93.5 million of debt, said Robert Howeth, Fairfield's chief financial officer.
BUSINESS
October 27, 2002
The Relocation Division of Coldwell Banker Residential Brokerage won three awards at this year's Cendant Mobility Broker Network's fall forum. More than 600 representatives participated in the recent three-day symposium in Chicago. Coldwell Banker received the Cendant Mobility Broker Network Best Incoming Referral Department award for service in handling broker-to-broker referrals. The company also received the Cendant Mobility Brokers Sales Lead award, which is presented to the network broker that submits the most qualified sales leads for potential new corporate signings.
BUSINESS
By BLOOMBERG NEWS | August 20, 2002
WASHINGTON - The Securities and Exchange Commission accepted accounting certifications from top executives at AOL Time Warner Inc., Bristol-Myers Squibb Co. and Reliant Energy Inc. yesterday while listing one from Mirant Corp. as not in compliance. Mirant, the biggest North American natural-gas trader whose accounting is under review by the SEC, joined 12 other companies whose certifications were listed earlier as not in compliance. AOL Time Warner and Bristol-Myers were checked as acceptable although they have said their financial results may need to be restated.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.