Posner takeover bid boosts National Can stock
National Can Corp shares rise to an all time high as a $40 a share tender offer aims to block NVF controlled takeover. The plan creates an ESOP with voting power, drawing objections from Victor Posner partner Dean Dickie who warns of reduced shareholder rights and possible NYSE delisting. Considine defends the move as aiding minority shareholders while noting personal retirement timing.
MENTIONED IN THIS ARTICLE
National Can Corp
Frank W. Considine
National Can
Dean Dickie
Victor Posner
Posner
NVF Co
NVF
ESOP
Dickie
Posner Holding Faces Bankruptcy Trouble for Two Firms
Graniteville empire under Victor Posner shows serious financial distress as Evans Products Co. misses debt renegotiation and may file Chapter 11. Sharon Steel also defaults on 13.5 percent debentures, risking further defaults and lender action. Bruce Greer says wider impact unlikely.
MENTIONED IN THIS ARTICLE
Miami
Graniteville Company
Victor Posner
Miami Beach
Evans
Wall Street Journal
the Journal
Bruce Greer
Posner
Evans Products
Sharon Steel
Evans Products Inc
Dominelli to plead guilty in bankruptcy fraud case
San Diego financier J David Dominelli will plead guilty to bankruptcy fraud charges in federal court Thursday, ending the main case against him as the investigation into J David Co continues. Prosecutors say he faces about 20 years if convicted on all counts, with the scale of the bank roll and investor losses cited in the sprawling money trading collapse.
MENTIONED IN THIS ARTICLE
San Diego
J. David Dominelli
Rose
Dominelli
San Diego Union
J. David & Co
J. David
Grass roots push for environmental reform across regions
Citizens from the Appalachians to the Cascades unite to oppose land misuse and pollution. They cite hazardous waste disposal and water contamination while recalling 1970s mobilizations that spurred tougher federal rules and the creation of the Environmental Protection Agency.
MENTIONED IN THIS ARTICLE
Appalachians
Cascades
America
Investigators Identify About 23 Million in ESM Assets
Investigators identified roughly 23 million dollars in assets tied to ESM Government Securities Inc. The firm owes more than 300 million to banks, savings and loans, and 16 cities including Pompano Beach Tamarac Harrisburg and Beaumont. Receiver Thomas Tew says the cash and securities recovered so far exclude 41 million owed by company officers. Bradford Trust Co. agreed to turn over 9 million in assets to Tew. The ripple effects hit Home State Savings Association and American Savings and Loan with potential losses and legal actions looming.
MENTIONED IN THIS ARTICLE
Fort Lauderdale
Fla
ESM Government Securities Inc
Harrisburg
Allentown
Beaumont
Texas
Birmingham
Mich
Toledo
Ohio
Pompano Beach
Tamarac
Clellam County
Wash
Thomas Tew
ESM
Securities and Exchange Commission
Bradford Trust Co
Tew
Home State Savings Association
Cincinnati
Ohio State
First National Corp
Arlo Smith
Cleveland
Home State
Ohio Deposit Guarantee Fund
American Savings and Loan
Pennsylvania
Washington
Standard & Poor
Danny Crews
Crews
SEC
Sanford Bohrer
Miami
Also Mentioned on This Page
New York Stock Exchange
Exchange
Considine
Youngstown, Ohio
Warren
General Motors
Youngstown-area
Posner Holding
Vou Jeaneew
Eve
U.S
Bob Rose
Res
Deluxe
Feeder
Oram Evers
Korky
K. Flide
Enterpris
Aye Lavelle Industries, Inc
Chicago
E&e
Childrens Outlet
U.S. Wild Bird Seed Co
ACE Hardware
Ivy
K. Feeder Enterprises
ASTER
Svents
Agency
Once Again
the Naisbitt Group
Washington, D.C
John Naisbitt
Jack B. Hamrick
Park Ave
S.E. Aiken
S.C
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