Ikon announces restructuring, $94 million loss

Article Abstract:

Ikon Office Solutions Inc., an office equipment and services firm, proposes rebounce its business with a 14-point restructuring program. Ikon, which absorbed a loss of $94 million in its third quarter, intends to bolster its operations with the strategy that calls to suspend new acquisitions, implement stricter financial controls and to develop a national marketing. Ikon Office, with 41,000 employees worldwide, has registered losses for over a year as it tried to consolidate small companies into a centrally-controlled organization.

Comment:

Proposes rebounce its business with a 14-point restructuring program

Strategy & planning, Paper & Allied Products, Paper Manufacturing, Paper industry, IKON Office Solutions Inc.

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Franklin Mint; no sale in works

Article Abstract:

Officials of Delaware County, PA-based Franklin Mint Corp. denied that the company is for sale. The company, one of the world's largest marketers of collectibles, did not hire Donaldson, Lufkin & Jenrette to look for a buyer for the privately-held mint as reported, said company spokeswoman Mona Liss. A report in the New York Post said mint owners Stewart and Lynda Resnick wanted to sell the company, which is entangled in legal troubles. The company could sell for up to $1 billion, said the report, citing unnamed sources.

Comment:

Denies report that the company is for sale

Asset sales & divestitures, Jewelry (except Costume) Manufacturing, Precious Metal Mints, Franklin Mint Corp., Mints (Factories)

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