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.

Organizational history, Department Stores, T. Eaton Company Ltd.

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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.

Strategy & planning, Mining, Mining & Extractive Industries, Noranda Inc.

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