National institution faces extinction
Article Abstract:
Troubled department store chain T Eaton Co Ltd has announced that it will close its business and sell its assets after 129 years of operations. the company sought bankruptcy protection in Feb 1997, citing a C$120-million operating loss. The company restructured by closing 21 sores, eliminating 1,300 jobs and transforming itself into a high-end chain. Eaton went public in 1998 with a projection of C$50-million profit but posted instead a loss of C$72 million.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
Shareholder opposition forces Noranda to drop plan
Article Abstract:
Substantial shareholder resistance has forced Noranda Inc to cancel a share reorganization plan. The share reorganization was intended to finance Noranda's prospective acquisitions. The opposing shareholders said the plan was too advantageous to EdperBrascan Corp, Noranda's majority shareholder. The reorganization would have converted all current Noranda current shares into one half a class A share and one-half a class B share.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Alliance sets profit record. Lions Gate posts loss in first fiscal year. Corus buys Power Corp.'s broadcasting assets
- Abstracts: Cordex to pay Strong $200,000 on asset sale. YBM shareholder prepares for battle. Dissident Repap shareholders remove chairman
- Abstracts: American's parent spins off Sabre. FAA may fine Boeing $392,000 for failing to promptly report defect
- Abstracts: Urban outfitter picks up tempo. WorldCom's tough sell
- Abstracts: Newbridge turns profit in quarter. Nortel to quit Belleville operations