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Corporate Restructuring

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  • Subprime Fallout: More Companies Slammed Tuesday, 18 Sep 2007 | 2:01 PM ET

    Fallout from credit problems in the mortgage market continued to batter various companies across the globe this week.

  • Dole Recalls Bagged Lettuce in U.S., Canada Monday, 17 Sep 2007 | 7:36 PM ET

    A division of Dole Food issued an international recall of bagged salad Monday after a sample taken from a store in Canada tested positive for E. coli, the company said.  There have been no reports of illness, company officials said. 

  • More Than 12 Parties Are Interested in Wendy's: WSJ Monday, 17 Sep 2007 | 7:09 PM ET

    More than a dozen parties have expressed interest in Wendy's International sale process, the Wall Street Journal reported on Monday, citing a person familiar with the the situation.

  • AOL Expands HP; Moves Headquarters to New York Monday, 17 Sep 2007 | 10:03 AM ET

    AOL, a unit of Time Warner, said Monday that it had expanded its deal with Hewlett-Packard Co beyond the United States and was realigning its advertising business.

  • First Data to Sell $5 Billion Loan at Discount Friday, 14 Sep 2007 | 4:27 PM ET

    First Data on Monday plans to sell a $5 billion loan to fund some of its $26 billion buyout by Kohlberg Kravis Roberts, but concessions had to be given to attract investors, sources told Reuters Loan Pricing on Friday.

  • NYSE's Trading Floor to Shrink Further Thursday, 13 Sep 2007 | 5:25 AM ET

    New York Stock Exchange employees will soon find their trading floor, a series of cavernous rooms which once thronged with traders but where activity has been reduced to a murmur, reduced to about half its current size.

  • AMC Theater-Chain Parent Tries to Go Public Again Thursday, 13 Sep 2007 | 4:54 AM ET

    A stronger summer box office apparently is encouraging the parent of the AMC theater chain to make a second attempt at taking the company public.

  • Pimco Plans $2 Billion Distressed-Debt Fund: WSJ Thursday, 13 Sep 2007 | 3:42 AM ET

    Pacific Investment Management Co. (Pimco) is planning to take advantage of relatively cheap mortgage securities in the wake of the recent credit crisis by launching a $2 billion distressed-debt fund to buy the beaten-down assets, the Wall Street Journal reported Thursday.

  • 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.