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Corporate Restructuring

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  • EDS Offers Retirement to 12,000 U.S. Workers Wednesday, 12 Sep 2007 | 12:27 PM ET
    The entrance to Electronic Data System headquarters building in Plano, Texas, Tuesday, Nov. 1, 2005. On Tuesday EDS posted a narrow third-quarter profit and reported that new contract signings, an indicator of future revenue, nearly doubled from a year ago. (AP Photo/Ron Heflin)

    Electronic Data Systems, the second-largest U.S. technology services provider, said Wednesday it offered early retirement packages to about 12,000 U.S. employees, and expected a charge of $70 million to $130 million in the fourth quarter.

  • Luminent Mortgage Shares Up; Pays off Credit Line Tuesday, 11 Sep 2007 | 11:09 AM ET

    Luminent Mortgage Capital, which has struggled with liquidity problems because of mortgage investments, Tuesday said it has reduced its debt exposure and cut staff, helping to stabilize its business.

  • GM Option in UAW Talks Excludes Health Trust: WSJ Tuesday, 11 Sep 2007 | 12:37 AM ET

    General Motors in its contract negotiations with the United Auto Workers union has proposed one option that excludes establishing a union-run healthcare trust but calls for deeper cuts in several areas, the Wall Street Journal reported in its online edition.

  • Weyerhaeuser Says Market Weak, May Close Plants Monday, 10 Sep 2007 | 7:55 AM ET

    Weyerhaeuser, one of the world's largest paper and lumber companies, said Monday that it would probably have to close plants and restrict operations because of weak market conditions.

  • FDA Warns on Boston Scientific Aortic Stent Trial Monday, 10 Sep 2007 | 6:40 AM ET

    U.S. health regulators charged Boston Scientific with inadequate record-keeping and reporting following the deaths of five patients implanted with an experimental device to treat a dangerous ballooning of the body's main artery.

  • Countrywide to Slash Workforce By 20% Sunday, 9 Sep 2007 | 10:44 AM ET

    Countrywide Financial, the largest U.S. mortgage lender, said Friday it would cut up to 12,000 jobs, the biggest job reduction by a single company to stem from the deepening U.S. housing crisis.

  • HSBC Shares Unruffled by Surprise Activist Assault Friday, 7 Sep 2007 | 8:31 AM ET

    Shares in HSBC Holdings were untroubled on Friday after a surprise late-night assault from activist investor Knight Vinke, as analysts said Europe's biggest bank was already working to address shareholder worries.

  • H&R Block Says Breeden Slate Wins Three Board Seats Thursday, 6 Sep 2007 | 2:16 PM ET

    Former U.S. Securities and Exchange Commission Chairman Richard Breeden won three seats on H&R Block's board Thursday, advancing his efforts to refocus the company on its tax preparation business.

  • Lehman To Cut 850 More Mortgage Jobs Thursday, 6 Sep 2007 | 12:57 PM ET

    Lehman Brothers Holdings said Thursday it will fire another 850 workers, or about 3 percent of its work force, as it scales back its mortgage lending efforts globally.

  • Medtronic to Slash Jobs Amid Slowdown in Key Market Thursday, 6 Sep 2007 | 11:38 AM ET

    Medical device maker Medtronic, feeling the pinch of a slowdown in one of its key markets, will eliminate about 900 jobs through early retirement packages, voluntary and involuntary separations, the company said in a filing.

  • Ace Hardware Finds $154 Million Accounting Shortfall Thursday, 6 Sep 2007 | 6:55 AM ET

    Ace Hardware discovered an approximately $154 million shortfall on its books while preparing to convert from retailer-owned cooperative to for-profit corporation and likely will have to restate its financial results for the last five years, President and CEO Ray Griffith said Wednesday.

  • General Mills to Close Two Plants; Cuts 580 Jobs Tuesday, 28 Aug 2007 | 2:06 PM ET

    General Mills said in a regulatory filing on Tuesday that it would close two plants that make frozen waffles and dough, cutting about 580 jobs.

  • Ohio Sues Marsh & McLennan, AIG, Other Insurers Tuesday, 28 Aug 2007 | 6:16 AM ET

    The state of Ohio has filed an anti-trust lawsuit accusing Marsh & McLennan, AIG and three other insurers and their subsidiaries of price fixing and other anti-competitive behavior, Attorney General Marc Dann said on Monday.

  • Home Depot Cuts Price of Supply Unit; Shares Up Monday, 27 Aug 2007 | 4:35 PM ET
    Home Depot

    Shares of Home Depot rose as much as 2 percent Monday after sources said the home improvement retailer agreed to cut the price in the sale of its supply unit by $1.8 billion to $8.5 billion.

  • Altria Seen Nearing Tobacco Spinoff Monday, 27 Aug 2007 | 3:32 PM ET

    Altria Group is widely expected to announce plans for the spinoff of its Philip Morris International unit this week, but some analysts see limited gains for a stock that already looks more expensive than its peers.

  • Crocs Shares Rise on Clothing Plan Monday, 27 Aug 2007 | 10:16 AM ET

    Crocs  said Monday it will launch a line of clothing using a form of the resin material it uses in its brightly colored clogs, sending the shoe company's shares up 3 percent.

  • Home Depot to Cut Unit Sale Price by $1.8 Billion Monday, 27 Aug 2007 | 7:50 AM ET
    Home Depot

    Home Depot agreed to cut the price in its supply division sale to buyout firms by $1.8 billion, sources said on Sunday, as a housing market drop and a credit crunch forced all sides to renegotiate.

  • Home Depot Shares Up on Hopes of Supply Unit Sale Friday, 24 Aug 2007 | 2:35 PM ET
    Home Depot

    Shares of Home Depot were up 1.3 percent Friday as investors waited for word about whether a sale was on or off for the home improvement retailer's contractor business.

  • Krispy Kreme Realigns Operations Friday, 24 Aug 2007 | 9:58 AM ET

    Krispy Kreme Doughnuts  said Friday that it is realigning its franchise and company store operations, a move that should help the company improve sales at existing locations and cut costs.

  • BHP Billiton Seeks to Grow Aggressively in India Friday, 24 Aug 2007 | 4:20 AM ET

    BHP Billiton, the world's biggest mining company, said it would seek to grow aggressively in India where volume growth is outstripping China, its other boom market.