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By BLOOMBERG NEWS | July 12, 2000
LOS ANGELES - Frederick's of Hollywood Inc., which sells racy lingerie in 200 U.S. stores and on the Internet, has filed for bankruptcy protection to ease a debt load from a 1997 leveraged buyout. The private company, bought three years ago by Knightsbridge Capital Corp. of Chicago for about $67 million, was sold in June to Newport Beach, Calif., investors Wilshire Partners for an undisclosed price. "We will continue to operate our stores, famous catalog [and] Internet businesses, selling the world's sexiest lingerie," said Linda LoRe, Frederick's president and chief executive.
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BUSINESS
By Gail Marksjarvis and Gail Marksjarvis,Tribune Media Services | July 29, 2007
This has been the month of clenched teeth beneath smiles. Investors haven't liked the underlying threats posed by the mortgage mess and the way lenders doled out billions of dollars to businesses and homeowners who wanted it - even if they could not afford to repay. But with the Dow Jones industrial average hitting new highs day after day earlier this month, investors kept wearing tense smiles and stayed to play in the market despite the uneasiness. That changed last week when it became clear that housing troubles are not as contained as some of Wall Street's elite have suggested, and the feared spillover into the financial system had begun.
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BUSINESS
November 10, 1992
GM cancels some new modelsGeneral Motors Corp. is putting the brakes on several new-model projects to conserve cash, according to a published report yesterday.Meanwhile, the automaker is warning local and state governments that up to 21,200 United Auto Workers drawing benefits from an income security fund could be laid off in January.The trade journal Automotive News reported GM has canceled a redesign of its Buick Century and Oldsmobile Cutlass Ciera, both assembled in Oklahoma City. The plant will continue to build the existing models of the cars, introduced in 1982 and slightly restyled in 1989.
BUSINESS
By BLOOMBERG NEWS | May 2, 2006
NEW YORK -- Aramark Corp., the food-service company that runs concessions at Oriole Park at Camden Yards and other sports venues, received a $5.8 billion takeover offer from a group led by its chairman and Goldman Sachs Group Inc. The group, which also includes JPMorgan Chase & Co., Thomas H. Lee Partners LP and Warburg Pincus LLC, bid $32 a share, Aramark said yesterday. That's 14 percent above the Philadelphia company's closing price Friday. The company's shares rose $5.79, or nearly 21 percent, to close at $33.90 on the New York Stock Exchange.
BUSINESS
December 17, 1992
Intel expects to surprise analystsIntel Corp., in a vivid demonstration of changing fortunes in the computer industry, said yesterday that it expects its fourth-quarter results to be "well above" analysts' estimates. Intel stock jumped on the news, gaining $6.125 or 7.9 percent to end at $83.50 in very heavy NASDAQ trading.France refuses to cut tariffsFrance dealt a potentially devastating blow to crisis-ridden world trade talks yesterday by announcing it would block European Community offers to cut import tariffs on farm products.
BUSINESS
By BLOOMBERG NEWS | May 2, 2006
NEW YORK -- Aramark Corp., the food-service company that runs concessions at Oriole Park at Camden Yards and other sports venues, received a $5.8 billion takeover offer from a group led by its chairman and Goldman Sachs Group Inc. The group, which also includes JPMorgan Chase & Co., Thomas H. Lee Partners LP and Warburg Pincus LLC, bid $32 a share, Aramark said yesterday. That's 14 percent above the Philadelphia company's closing price Friday. The company's shares rose $5.79, or nearly 21 percent, to close at $33.90 on the New York Stock Exchange.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | June 14, 1994
Fair Lanes Inc. said yesterday that it would file a bankruptcy reorganization plan after reaching a deal with its biggest creditors to fix the finances of the debt-ridden company.The Hunt Valley-based operator of 106 bowling and entertainment centers, including 33 in the Baltimore-Washington area, said its agreement with creditors would allow it to file a prepackaged plan, typically hastening approval by the court and forcing the deal on possibly recalcitrant minority bondholders.Both Fair Lanes Inc. and its parent, Fair Lanes Entertainment Inc., were expected to file for Chapter 11 bankruptcy protection today, said Mac Clayton, chief executive of the two companies.
NEWS
By Sean Somerville and Sean Somerville,SUN STAFF | March 10, 1999
Moving to raise its value as it faces billions of dollars in legal claims, RJR Nabisco Holding Corp. said yesterday that it will sell its international tobacco business to Japan Tobacco Inc. for $8 billion and spin off its domestic tobacco business.Together, the moves would mark the dismantling of a company, acquired a decade ago in a $25 billion leveraged buyout, that makes Oreo cookies, Planters peanuts and Ritz crackers along with Winston, Camel and Salem cigarettes.Stephen F. Goldstone, the chairman and chief executive officer of RJR Nabisco, linked the moves, calling the sale of Reynolds International a "paramount strategic objective."
BUSINESS
By Cindy Harper-Evans | March 6, 1991
At the festive unveiling of a new ad campaign featuring a flock of sheep yesterday, Jos. A. Bank Clothiers Inc. gave a serious announcement that also was a cause for celebration: A preliminary agreement was reached early yesterday to convert its $50 million in "junk-bond" debt into equity.Under the direction of its new turnaround management team, the Owings Mills-based clothier said that it had reached an agreement with Bank's 13 bondholders to convert the debt, which Bank took on during a leveraged buyout in 1986 arranged by the now-defunct Drexel Burnham Lambert.
BUSINESS
By Kim Clark and Kim Clark,Sun Staff Writer | January 21, 1995
The families of nearly 700 retirees of the defunct Maryland Shipbuilding and Drydock Co. yesterday won back their health insurance -- for the time being, at least.Senior U.S. District Judge Herbert N. Maletz issued a temporary restraining order requiring Fruehauf Trailer Corp. to restore health insurance to the approximately 668 shipyard retirees and their spouses.Fruehauf cut off payments for medical and prescription insurance on Jan. 9.Yesterday's order also required the Southfield, Mich.
BUSINESS
By BLOOMBERG NEWS | July 12, 2000
LOS ANGELES - Frederick's of Hollywood Inc., which sells racy lingerie in 200 U.S. stores and on the Internet, has filed for bankruptcy protection to ease a debt load from a 1997 leveraged buyout. The private company, bought three years ago by Knightsbridge Capital Corp. of Chicago for about $67 million, was sold in June to Newport Beach, Calif., investors Wilshire Partners for an undisclosed price. "We will continue to operate our stores, famous catalog [and] Internet businesses, selling the world's sexiest lingerie," said Linda LoRe, Frederick's president and chief executive.
NEWS
By Sean Somerville and Sean Somerville,SUN STAFF | March 10, 1999
Moving to raise its value as it faces billions of dollars in legal claims, RJR Nabisco Holding Corp. said yesterday that it will sell its international tobacco business to Japan Tobacco Inc. for $8 billion and spin off its domestic tobacco business.Together, the moves would mark the dismantling of a company, acquired a decade ago in a $25 billion leveraged buyout, that makes Oreo cookies, Planters peanuts and Ritz crackers along with Winston, Camel and Salem cigarettes.Stephen F. Goldstone, the chairman and chief executive officer of RJR Nabisco, linked the moves, calling the sale of Reynolds International a "paramount strategic objective."
BUSINESS
By Kim Clark and Kim Clark,Sun Staff Writer | January 21, 1995
The families of nearly 700 retirees of the defunct Maryland Shipbuilding and Drydock Co. yesterday won back their health insurance -- for the time being, at least.Senior U.S. District Judge Herbert N. Maletz issued a temporary restraining order requiring Fruehauf Trailer Corp. to restore health insurance to the approximately 668 shipyard retirees and their spouses.Fruehauf cut off payments for medical and prescription insurance on Jan. 9.Yesterday's order also required the Southfield, Mich.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | June 14, 1994
Fair Lanes Inc. said yesterday that it would file a bankruptcy reorganization plan after reaching a deal with its biggest creditors to fix the finances of the debt-ridden company.The Hunt Valley-based operator of 106 bowling and entertainment centers, including 33 in the Baltimore-Washington area, said its agreement with creditors would allow it to file a prepackaged plan, typically hastening approval by the court and forcing the deal on possibly recalcitrant minority bondholders.Both Fair Lanes Inc. and its parent, Fair Lanes Entertainment Inc., were expected to file for Chapter 11 bankruptcy protection today, said Mac Clayton, chief executive of the two companies.
BUSINESS
By Bloomberg Business News | December 31, 1993
The suitors, not the stalkers, were the dominant force in mergers in 1993.Although hostile bids were scarce, the transactions were hardly pikers -- with Mellon Bank Corp. offering $1.85 billion for mutual-fund manager Dreyfus Corp., pharmaceutical maker Merck & Co. paying $6 billion for mail-order druggist Medco Containment Services Inc. and, in the year's topper, Bell Atlantic Corp. agreeing to buy cable TV giant Tele-Communications Inc. for about $30 billion, to name but three.The value of mergers and acquisitions leapt to $265 billion in 1993, a 73 percent gain on 1992, according to Securities Data Co. in Newark, N.J.And 1994 could be even hotter -- at least that's the hope of Wall Street investment bankers grown accustomed to this year's fat advisory fees.
BUSINESS
December 17, 1992
Intel expects to surprise analystsIntel Corp., in a vivid demonstration of changing fortunes in the computer industry, said yesterday that it expects its fourth-quarter results to be "well above" analysts' estimates. Intel stock jumped on the news, gaining $6.125 or 7.9 percent to end at $83.50 in very heavy NASDAQ trading.France refuses to cut tariffsFrance dealt a potentially devastating blow to crisis-ridden world trade talks yesterday by announcing it would block European Community offers to cut import tariffs on farm products.
BUSINESS
By Michael Dresser | January 7, 1992
Memorex Telex N.V., a troubled multinational computer company that was stitched together by Orioles owner Eli S. Jacobs, filed a previously announced prepackaged Chapter 11 plan yesterday -- a move that could hasten its progress through the bankruptcy process.The filing in U.S. District Court in Wilmington, Del., came as no surprise. In July, Memorex Telex reached a deal with its bondholders that effectively stripped Mr. Jacobs of any significant interest in the company. Memorex said yesterday that its reorganization plan had received approval from at least 85 percent of its creditors.
BUSINESS
By Bloomberg Business News | December 31, 1993
The suitors, not the stalkers, were the dominant force in mergers in 1993.Although hostile bids were scarce, the transactions were hardly pikers -- with Mellon Bank Corp. offering $1.85 billion for mutual-fund manager Dreyfus Corp., pharmaceutical maker Merck & Co. paying $6 billion for mail-order druggist Medco Containment Services Inc. and, in the year's topper, Bell Atlantic Corp. agreeing to buy cable TV giant Tele-Communications Inc. for about $30 billion, to name but three.The value of mergers and acquisitions leapt to $265 billion in 1993, a 73 percent gain on 1992, according to Securities Data Co. in Newark, N.J.And 1994 could be even hotter -- at least that's the hope of Wall Street investment bankers grown accustomed to this year's fat advisory fees.
NEWS
By Thomas Easton and Thomas Easton,New York Bureau | November 22, 1992
To find out who really owns Maryland Cup, look past th company's sprawling factory in Owings Mills. And look past its nominal corporate parent, Sweetheart Holdings, whose headquarters is an eight-person office (including secretaries) in Stamford, Conn.Instead, look to Manhattan, to a steel-and-glass office tower on the western edge of Rockefeller Center. That's the headquarters of Morgan Stanley & Co., a publicly traded international investment firm.Morgan Stanley, which made millions as an adviser on mergers and other deals involving Maryland Cup, has moved far beyond that role.
BUSINESS
November 10, 1992
GM cancels some new modelsGeneral Motors Corp. is putting the brakes on several new-model projects to conserve cash, according to a published report yesterday.Meanwhile, the automaker is warning local and state governments that up to 21,200 United Auto Workers drawing benefits from an income security fund could be laid off in January.The trade journal Automotive News reported GM has canceled a redesign of its Buick Century and Oldsmobile Cutlass Ciera, both assembled in Oklahoma City. The plant will continue to build the existing models of the cars, introduced in 1982 and slightly restyled in 1989.
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