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Robert Campeau
Robert Joseph Antoine Campeau (August 3, 1923 June 12, 2017) was a Canadian financier and real estate developer. Starting from a single house constructed in 1940 in the Alta Vista neighbourhood of Ottawa, Ontario, Campeau built a large land development corporation around the development of the suburb of Kanata. Expansion in the U.S. led Campeau to diversify into the ownership of retail department stores to anchor commercial development projects. The Campeau Corporation used leveraged buyouts to buy the department stores and went bankrupt when it could not maintain the debt payments, in the largest retailing bankruptcy at the time in U.S. history. Early years Born in Chelmsford, Ontario, Campeau's formal education ended in Grade 8, at the age of 14. He worked in jobs at Inco as a general labourer, carpenter and machinist. In 1949, he entered the residential end of the construction business. His first project was a single home constructed in partnership with his cousin in Ottawa, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chelmsford, Ontario
Rayside-Balfour (1996 census population 16,050) was a town in Ontario, Canada, which existed from 1973 to 2000. It is now part of the city of Greater Sudbury. The town was created as part of the Regional Municipality of Sudbury and took its name from the townships of Rayside and Balfour, which fell within the boundaries of the new town; prior to the town's creation in 1973, Rayside and Balfour were separately incorporated as township municipalities.History of Rayside-Balfour at . Although the Regional Municipality of Sudbury was a very important centre of |
Place De Ville
Place de Ville is a complex of office towers in downtown Ottawa, Ontario, Canada. It consists of four office buildings: Place de Ville A, B, and C; and the 'Podium' building, which houses a shuttered "piggy-back" cinema enveloped with functional office space. The complex also has two large hotels, the Delta Ottawa City Centre (410 rooms) and Ottawa Marriott Hotel (487 rooms). The buildings are linked by an underground shopping complex. Place de Ville C is the tallest office building in Ottawa. It was once advertised as "Ottawa's glittering answer to the Toronto Dominion Centre and Place Ville Marie". History and development The complex is located in downtown Ottawa on Albert Street between Kent Street and Lyon. Towers A and B are located on the south side of Queen Street while tower C is on the north of Queen. The buildings are mostly home to various federal government workers, with the Department of Transport, headquartered in Tower C, being the largest tenant. For almos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid digital subscribers. It also is a producer of popular podcasts such as '' The Daily''. Founded in 1851 by Henry Jarvis Raymond and George Jones, it was initially published by Raymond, Jones & Company. The ''Times'' has won 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national " newspaper of record". For print it is ranked 18th in the world by circulation and 3rd in the U.S. The paper is owned by the New York Times Company, which is publicly traded. It has been governed by the Sulzberger family since 1896, through a dual-class share structure after its shares became publicly traded. A. G. Sulzberger, the paper's publisher and the company's chairman, is the fifth generation of the family to head the pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reichmann Family
The Reichmann/Reichman family is a Jewish-Canadian family best known for their property empire built through the Olympia and York company which relied on a carefully constructed image and secrecy to obtain billions in loans on property already leveraged to untenable debt loads, loans made by banks on assumptions which ultimately turned out to be wholly unjustified when the Reichmans family company was ultimately shown the be a house of cards and forced into bankruptcy owing more than twice what their family was supposedly worth. At the family's peak, their combined wealth was estimated at $13 billion, while unknown to anyone outside the family at the time of this estimation, they were actually in debt owing billions more than the family was supposedly worth to banks and creditors, the fourth-richest family on the planet on paper. The family's fortunes were found to be wildly overstated relying on bank loans and secrecy until finally they were forced to declare bankruptcy, partic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bruce Wasserstein
Bruce Jay Wasserstein (December 25, 1947 – October 14, 2009) was an American investment banker, businessman, and writer. He was a graduate of the McBurney School, University of Michigan, Harvard Business School, and Harvard Law School, and spent a year at the University of Cambridge. He was prominent in the mergers and acquisitions industry, credited with working on 1,000 transactions with a total value of approximately $250 billion. Early life Wasserstein was born and raised in Midwood, Brooklyn, New York, the son of Lola (née Schleifer) and Morris Wasserstein. His father, a Jewish immigrant from pre-World War II Poland, emigrated to New York City and started a ribbon company. His maternal grandfather was Simon Schleifer, a Jewish teacher in the yeshiva in Wloclawek, Poland who later emigrated to Paterson, New Jersey and became a Hebrew school principal. Wasserstein had four siblings: businesswoman Sandra Wasserstein Meyer; Pulitzer Prize-winning playwright Wendy Wasserste ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bloomingdale's
Bloomingdale's Inc. is an American luxury department store chain; it was founded in New York City by Joseph B. Bloomingdale, Joseph B. and Lyman G. Bloomingdale in 1861. A third brother, Emanuel Watson Bloomingdale, was also involved in the business. It became a division of the Cincinnati-based Federated Department Stores in 1930 under then-president Samuel Bloomingdale. In 1994, the Macy's department store chain joined the Federated Department Stores holding company. In 2007, Federated Department Stores was renamed Macy's, Inc. As of October 29, 2022, there are 54 stores (56 boxes) including 32 department stores (34 boxes, all full line), 1 Bloomies, 1 furniture/other store and 20 outlet stores (There are a total of 35 stores) with the Bloomingdale's nameplate in operation throughout the United States. Its headquarters and Flagship#Retailing, flagship store are located at 59th Street (Manhattan), 59th Street and Lexington Avenue in the New York City borough of Manhattan. Hist ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federated Department Stores
Macy's, Inc. (originally Federated Department Stores, Inc.) is an American conglomerate holding company. Upon its establishment, Federated held ownership of the regional department store chains Abraham & Straus, Lazarus, Filene's, and Shillito's. Bloomingdale's joined Federated Department Stores the following year. Throughout its early history, frequent acquisitions and divestitures saw the company operate a number of nameplates. In 1994, Federated took over the department store chain Macy's. With the acquisition of The May Department Stores Company in 2005, the regional nameplates were retired and replaced by the Macy's and Bloomingdale's brands nationwide by 2006. Ultimately, Federated itself was renamed Macy's, Inc. in 2007. Macy's, Inc., has been headquartered within Macy's Herald Square in New York City since 2020; beforehand, its headquarters was in Cincinnati, Ohio. While Federated had a long history of preserving brand identities in each of their markets since its incep ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Allied Stores
Allied Stores was a department store chain in the United States. It was founded in the 1930s as part of a general consolidation in the retail sector by B. E. Puckett. See also Associated Dry Goods. It was the successor to Hahn's Department Stores, a holding company founded in 1928. In 1935 Hahn's was reorganized into Allied Stores. In 1981, Allied Stores acquired the 24-year-old retail conglomerate Garfinckel, Brooks Brothers, Miller & Rhoads, Inc. for $228 million. With that transaction they acquired 178 department stores and 48 specialty shops in 28 states. In 1986 the chain was acquired by Campeau Corporation under Canadian entrepreneur Robert Campeau. In 1988 it merged with Federated Department Stores (now known as Macy's, Inc.), and the chains were consolidated in 1990 under the Federated name after Chapter 11 bankruptcy. Stores Advertisement for The Dean Miller Show on WLW-C (now WCMH) in Columbus, Ohio. Sponsored by The Fashion. Department stores divisions at ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Junk Bond
In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit events, but offer higher yields than investment-grade bonds in order to compensate for the increased risk. Default risk As indicated by their lower credit ratings, high-yield debt entails more risk to the investor compared to investment grade bonds. Investors require a greater yield to compensate them for investing in the riskier securities. In the case of high-yield bonds, the risk is largely that of default: the possibility that the issuer will be unable to make scheduled interest and principal payments in a timely manner. The default rate in the high-yield sector of the U.S. bond market has averaged about 5% over the long term. During the liquidity crisis of 1989-90, the default rate was in the 5.6% to 7% range. During the pandemic of 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Bank Of Canada
Royal Bank of Canada (RBC; french: Banque royale du Canada) is a Canadian multinational financial services company and the largest bank in Canada by market capitalization. The bank serves over 17 million clients and has more than 89,000 employees worldwide. Founded in 1864 in Halifax, Nova Scotia, it maintains a corporate headquarters in Toronto and its head office in Montreal. RBC's institution number is 003. In November 2017, RBC was added to the Financial Stability Board's list of global systemically important banks. In Canada, the bank's personal and commercial banking operations are branded as ''RBC Royal Bank'' in English and ''RBC Banque Royale'' in French and serves approximately 10 million clients through its network of 1,209 branches. RBC Bank is a US banking subsidiary which formerly operated 439 branches across six states in the Southeastern United States, but now only offers cross-border banking services to Canadian travellers and expats. RBC ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Trust (Canada)
The Royal Trust Company is a Canadian trust company that was founded in 1892 in Montreal, Quebec. By the late 20th century, it carried out trust, financial, real estate and deposit services in over 100 branches in Canada, the U.S. and overseas. In 1993, the company was bought by the Royal Bank of Canada, and Royal Trust is now part of RBC Wealth Management. History The Royal Trust Company was founded in 1892 as the Royal Trust and Fidelity Company when on 24 June of that year its articles of incorporation were assented by the Parliament of Quebec. The founding members were Edward Clouston, Edward S. Clouston, J. Burnett, Frank Paul, George Alexander Drummond, George A. Drummond, Richard B. Angus, David Burke, C. G. Clouston, John Cassils, R. D. McGibbon, Louis-Joseph Forget, Charles Hosmer, Charles R. Hosmer, James Ross (Canadian businessman), James Ross, Herbert Samuel Holt, Herbert S. Holt, and D. Macmaster. Of its charter board of 16 members, nine were members of the Bank of Mo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leveraged Buyout
A leveraged buyout (LBO) is one company's acquisition of another company using a significant amount of borrowed money (leverage) to meet the cost of acquisition. The assets of the company being acquired are often used as collateral for the loans, along with the assets of the acquiring company. The use of debt, which normally has a lower cost of capital than equity, serves to reduce the overall cost of financing the acquisition. The cost of debt is lower because interest payments often reduce corporate income tax liability, whereas dividend payments normally do not. This reduced cost of financing allows greater gains to accrue to the equity, and, as a result, the debt serves as a lever to increase the returns to the equity. The term LBO is usually employed when a financial sponsor acquires a company. However, many corporate transactions are partially funded by bank debt, thus effectively also representing an LBO. LBOs can have many different forms such as management buyout (MBO), ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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