BUSINESS NOTES CUSIMANO NAMED NEWHALL LAND CEO.VALENCIA - Newhall Land and Farming Co. named Gary Cusimano chief executive officer Thursday, replacing the retiring Thomas Lee Thomas Lee may refer to:
The company also announced that due to the timing of escrow closings, per-unit net income for the first quarter will likely be only a few cents, compared with 11 cents for the same period in 2000. - Daily News Charles Schwab Charles Schwab can refer to:
SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden - Securities brokerage Charles Schwab Corp. plans to cut as many as 3,400 jobs, or about 13 percent of its work force, because of tough conditions in the financial markets. The company, which is the nation's biggest online broker, said Thursday that while its new assets and accounts are holding up, it is feeling pressure on its first quarter revenues and profitability. The company said it will eliminate 2,000 to 2,300 full-time jobs and 150 to 200 contractors in the second quarter. It said another 600 to 900 full- time jobs would be cut through attrition by the end of the year. - Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Procter & Gamble reduces work force CINCINNATI - Procter & Gamble Co. will cut 9,600 more jobs worldwide, or about 9 percent of its work force, as part of its effort to meet competitors' prices and increase sales of core brands, the company's chief executive said Thursday. The move raises total job cuts to 24,600 announced in the past two years by P&G, once regarded by workers as a job-for-life employer. The maker of Crest toothpaste, Pampers Pampers is a brand of disposable diaper (or nappy) marketed by Procter & Gamble worldwide. Product information Diapers Pampers Diapers come in sizes going all the way up to Size 7. diapers and Tide detergent employs about 110,000 people around the world. - Associated Press K-tel to liquidate its music division K-tel International Inc., which has a local presence in Calabasas, has shut down its U.S. music-distribution division and plans to liquidate it. K-tel on Wednesday blamed the division's demise on the tough operating environment In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. and a legal dispute with a major customer over payments due. It said the subsidiary, K-tel International (USA) Inc., sought protection Monday under Chapter 7 of the federal bankruptcy laws in Minneapolis. K-tel USA distributed licensed music mainly to retail record stores but has struggled through cost and staff reductions for about a year. - Associated Press Diageo set to sell Guinness branch LONDON - Guinness World Records, which has spent the last half-century recording the achievements of others, from the largest airsick bag collection to the hairiest family, is preparing for a feat of its own. Diageo, the British liquor company, has retained Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. to sell the business, people close to the companies said Thursday. An offering memorandum Offering Memorandum A legal document stating the objectives, risks, and terms of investment involved with a private placement. Notes: The private placement of hedge funds necessitates the issue of memorandums. has been sent to some 30 potential buyers, including media giants Pearson PLC and The Walt Disney Co. as well as private equity firms, they said. - The New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Times |
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