Computervision goes public after cutting offering price

Article Abstract:

Computervision Corp announces it is going public at a price of $12 a share. The company had expected its shares to sell for more. Analysts at Shearson Lehman Brothers will report an additional $40 million loss because of the low share price. Computervision had hoped to sell 20 million shares at up to $16 a share, but investor reluctance forced the company to reduce the price and increase the number of available shares. The company also sold $300 million worth of bonds which will help the company pay off debts. Shearson had helped fund a leveraged buyout of Prime in 1989 with a $500 million bridge loan. Shearson now receives $250 million from the offering plus 6.2 million shares worth $74 million.

Prepackaged software, Investment advice, Computer industry, Finance, Financial Analysis Software, Stock, Public Offerings, Shearson Lehman Brothers Inc., Computervision Corp.

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Reacting to a Dollar With No Muscle

Article Abstract:

Although the U.S. dollar fell in 2004, the economic news was not all bad. The stock markets hit record highs by the end of the year, and are expected to do well again in 2005.

United States, Forecasts, trends, outlooks, Sales & consumption, Administration of General Economic Programs, Security and commodity exchanges, Commodity & service prices, Intnl Economic Policy, Intnl Economic Relations, Labor Distribution by Employer, Prices and rates, Forecasts and trends, Stock-exchange, Stock exchanges, Statistics, United States economic conditions, Market trend/market analysis, International economic relations, Dollar (United States), Foreign exchange market, Company pricing policy, Industry sales and revenue, 2004 AD, 2005 AD

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A Strategist Who Struggled As a Manager

Article Abstract:

After eight difficult years and recent clashes with former executives, Philip J. Purcell has decided to step down as CEO of Morgan Stanley.

Financial management, Management dynamics, Executive changes & profiles, Management, Officials and employees, Appointments, resignations and dismissals, Beliefs, opinions and attitudes, Investor relations, Company business management, MWD, Morgan Stanley, Purcell, Philip J.

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