BRIEFCASE HOMESTORE MAKES CHANGE IN AUDITOR.Byline: - Staff and Wire Services WESTLAKE VILLAGE - Web site operator Homestore Inc. has dismissed PricewaterhouseCoopers LLP LLP - Lower Layer Protocol and hired Ernst & Young LLP as its new independent auditor Independent Auditor An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report. Notes: These auditors aren't affiliated with the company being audited. , according to a filing Monday with the Securities and Exchange Commission. Homestore didn't give a reason for the auditor change in the filing. The company said that the reports of its former auditor didn't have any adverse opinion or disclaimer of opinion Disclaimer of opinion An auditor's statement that does not express any opinion regarding the company's financial condition. disclaimer of opinion and there were no disagreements between it and the former auditor. For the year ended Dec. 31, Pricewaterhouse advised Homestore.com that its former management had subverted internal controls. Homestore then restated its earnings and took other remedial action. Maguire acquiring Riordan's office Maguire Properties Inc. is buying the offices of former Mayor Richard Riordan and others with its acquisition of One California Plaza One California Plaza is part of a downtown Los Angeles commercial and cultural complex which also includes the MOCA (Los Angeles Museum of Contemporary Art), the Los Angeles Omni Hotel, Two California Plaza and the Watercourt[1]. downtown. The purchase price is about $225 million, which will be funded through cash on hand and a $146.3 million seven-year mortgage loan at a fixed interest rate of 4.73 percent provided by Metropolitan Life Insurance, according to the real estate investment trust. Met Life is the current owner of the Bunker Hill tower. The acquisition of the 42-story, 975,000-square-foot building at 300 S. Grand Ave., across from Maguire Properties' Wells Fargo Center Wells Fargo Center is the name of several buildings in the United States:
GM stockholders OK Hughes deals EL SEGUNDO - General Motors Corp. announced Monday its stockholders approved transactions that will result in the split-off of its subsidiary, Hughes Electronics Corp., and the acquisition of 34 percent of Hughes common stock by News Corp. An ``overwhelming percentage'' of GM stock voted in response to GM's consent solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with statement was in support of the transactions, according to the company. PeopleSoft's Q3 exceeds forecast SAN FRANCISCO - Business software maker PeopleSoft Inc. on Monday said its third-quarter results exceeded management expectations set a month ago, raising the pressure on spurned spurn v. spurned, spurn·ing, spurns v.tr. 1. To reject disdainfully or contemptuously; scorn. See Synonyms at refuse1. 2. To kick at or tread on disdainfully. v. suitor SUITOR. One who is a party to a suit or action in court. One who is a party to an action. In its ancient sense, suitor meant one Who was bound to attend the county court, also, one who formed part of the secta. (q.v.) Oracle Corp. to sweeten sweet·en v. sweet·ened, sweet·en·ing, sweet·ens v.tr. 1. To make sweet or sweeter by adding sugar, honey, saccharin, or another sweet substance. 2. To make more pleasant or agreeable. its $19.50-per-share takeover bid. Without providing specific figures, PeopleSoft said its sales of new software licenses, total revenue and profit from ongoing operations topped the estimates provided to analysts in early September. Including charges related to its $1.8 billion purchase of J.D. Edwards & Co., Pleasanton-based PeopleSoft will likely record a net loss when it reports its third-quarter results later this month. T-bill rates fall at Monday auction WASHINGTON - Interest rates on short-term Treasury securities fell in Monday's auction. The Treasury Department sold $16 billion in three-month bills at a discount rate of 0.920 percent, down from 0.935 percent last week. An additional $16 billion was sold in six-month bills at a rate of 0.995 percent, down from 1.005 percent. In a separate report, the Federal Reserve said Monday that the average yield for one-year constant maturity Treasury bills, the most popular index for making changes in adjustable rate mortgages, fell to 1.17 percent last week from 1.22 percent the previous week. Motorola spinning off chip sector CHICAGO - Motorola Inc. plans to spin off its semiconductor operations, its biggest money loser, as a separate, publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. - a change of course analysts said was long overdue. The telecommunications equipment maker is considering an initial public offering of a portion of its semiconductor business followed by a distribution of remaining shares to shareholders, subject to Motorola board approval and other conditions. |
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