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Corporate Restructuring

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  • 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.

  • Mortgage Stocks Rally on News of Countrywide Investment Thursday, 23 Aug 2007 | 11:32 AM ET

    Shares of Thornburg Mortgage, Accredited Home Lenders Holding and other mortgage stocks were trading higher before the opening bell Thursday after Bank of America made a $2 billion investment in Countrywide Financial.

  • Facebook Devising New Advertising System: WSJ Thursday, 23 Aug 2007 | 5:53 AM ET

    Social networking Website Facebook is working on an advertising system to allow marketers to target users with ads based on the information people reveal about themselves on the site, the Wall Street Journal reported in its online edition early on Thursday.

  • Ford: No Jaguar Sale Decision Imminent Thursday, 23 Aug 2007 | 5:15 AM ET

    Ford Motor will not make an announcement about the sale of its Jaguar and Land Rover units until late this year or perhaps early in 2008, the head of the company's European operations said Wednesday night.

  • Former AOL executive Stephen M. Swad has become the new chief financial officer at mortgage finance giant Fannie Mae, the company said Wednesday. Swad's succession as finance chief, replacing Robert Blakely, had been planned for some time.  Blakely stepped down as its chief financial officer last Friday but remains an executive vice president.