BUSINESS NOTES SHARES OF VITESSE LOSE 14% OF VALUE.
CAMARILLO - Investors punished Vitesse Semiconductor Corp. on Tuesday, a day after it scaled back its second-quarter earnings projections for a second time, sending its stock plummeting more than 14 percent.
Vitesse announced late Monday that its earnings would come in at 10-11 cents per share Cents per share
The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . On March 5, the company announced it was reducing its earnings estimate from 26-27 cents per share to 21-22 cents.
The company blames continued weakness in the market for the lowered expectations.
- Daily News
Capitol Records Capitol Records is a major United States-based record label, owned by EMI, located in Hollywood, California. Its headquarters building, the Capitol Tower, is a major landmark near the corner of Hollywood and Vine. taps Slater as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.
Music producer and manager Andy Slater, whose clients include Macy Gray, Fiona Apple and The Wallflowers, has been named president and chief executive at Capitol Records.
Slater will begin May 1, EMI (ElectroMagnetic Interference) An electrical disturbance in a system due to natural phenomena, low-frequency waves from electromechanical devices or high-frequency waves (RFI) from chips and other electronic devices. Allowable limits are governed by the FCC. Recorded Music recorded music n → música grabada , Capitol's parent, said Tuesday.
The company has been without a president since 1998, when Gary Gersh stepped down amid concerns over sluggish sales. EMI's U.S. deputy president, Roy Lott, has been heading the company since then.
- 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.
Reliance center set for Big Easy
Reliance Steel & Aluminum Co. announced Tuesday the establishment of a metals service center in New Orleans.
The facility will function as a branch of Reliance's recently acquired and wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. , Aluminum and Stainless Inc., a metals service center based in Lafayette, La.
The two metals service centers in Louisiana process and distribute primarily aluminum sheet, plate and bar products to the marine industry that services the oil and gas sector and offshore oil rigs.
Reliance Steel & Aluminum, headquartered in Los Angeles, is one of the largest metals service center companies in the United States.
- City News Service
Experian, credit union sign pact
ORANGE - Experian, the Orange County-based information solutions company, announced Tuesday that it has signed an agreement with Hughes Aircraft Employees Federal Credit Union.
Experian will provide the 200,000-member institution with a total application processing system that includes data, credit scoring Credit scoring
A statistical technique that combines several financial characteristics to form a single score to represent a customer's creditworthiness. , advanced decisioning capabilities and application processing software.
Terms were not disclosed.
Manhattan Beach-based Hughes Aircraft Employees Federal Credit Union is the nation's 10th-largest credit union with more than $2 billion in assets and more than 200,000 members in 50 states.
- City News Service