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The Info List - Leucadia National Corporation



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LEUCADIA NATIONAL CORPORATION is a conglomerate and investment holding company based in New York City
New York City
.

The company has been called "baby Berkshire" since it models its investment strategy after that of Berkshire Hathaway
Berkshire Hathaway
.

The company was named after the town of Leucadia, Encinitas, California after the founders, while trying to decide on a name for the company, saw the name of the town on a sign during a road trip.

CONTENTS

* 1 Investments

* 1.1 Financial Services * 1.2 Merchant Banking

* 2 History * 3 References * 4 External links

INVESTMENTS

The company's major holdings are as follows:

FINANCIAL SERVICES

* Jefferies Group (100%) - investment banking & capital markets * Berkadia Commercial Mortgage (50/50 joint venture with Berkshire Hathaway ) - commercial mortgage banking, investment sales and servicing * HomeFed (65% ownership) - real estate * FXCM
FXCM
(49.9%) - online foreign exchange trading * Foursight Capital (100%) - vehicle finance

MERCHANT BANKING

* National Beef Packing Company
National Beef Packing Company
(79%) - beef processing * HRG Group (23%) - insurance and consumer products * Vitesse Energy (96%) - oil and gas exploration and development * Juneau Energy (98%) - oil and gas exploration and development * Garcadia Holdings (75%, Joint venture with Ken Garff Automotive Group) - automobile dealerships * Linkem (57%) - fixed wireless broadband services * Golden Queen (35%) - a gold and silver mining project * Idaho Timber (100%) - manufacturing

HISTORY

In 1970, Ian Cumming and Joseph S. Steinberg both graduated in from Harvard Business School and went to work for Carl Marks & Company, an investment bank .

In 1979, they gained control of Talcott National Corporation, sold the James Talcott Factors division, and, in 1980, they renamed the company Leucadia.

In 1984, the company made a $61 million profit on its $77 million investment in Avco Corporation by forcing the sale of the company to Textron .

In 1991, the company acquired insurer Colonial Penn from Florida Power however, the plant never received legislative approval.

In 2013, the company merged with Jefferies Group and Richard Handler became chief executive officer of the company.

In 2015, the company made an investment in FXCM
FXCM
after FXCM
FXCM
suffered losses due to the appreciation of the Swiss Franc .

In 2016, the company restructured its investment in FXCM.

REFERENCES

* ^ A B C D E F G Leucadia National Corporation 2016 Form 10-K Annual Report * ^ Berkowitz, Ben (November 12, 2012). ""Baby Berkshire" Leucadia matures with Jefferies deal". Reuters
Reuters
. * ^ A B Ditz, Jason (July 25, 2014). "Underpants, Ground Beef, and Car Dealerships: A History of Leucadia National". The Motley Fool . * ^ A B C CRUDELE, JOHN (May 25, 1985). "LEUCADIA: SUCCESSFUL LONER". The New York Times . * ^ KOLODY, TRACY (April 6, 1991). "Fpl Group Finds Buyer For Insurer Colonial Penn Brings In $150 Million". Sun-Sentinel . * ^ " Conseco
Conseco
Planning to Acquire Colonial Penn". Bloomberg News . The New York Times . May 1, 1997. * ^ " GE Capital
GE Capital
to Buy Colonial Penn". Reuters
Reuters
. Los Angeles Times . July 1, 1997. * ^ " Allstate
Allstate
to buy 2 Leucadia companies". Bloomberg News . Deseret News
Deseret News
. December 22, 1998. * ^ "Williams Communications emerges from bankruptcy as WilTel". American City Business Journals
American City Business Journals
. October 16, 2002. * ^ " Leucadia National Corporation Proposes to Acquire WilTel Communications Group, Inc. Common Stock" (Press release). Business Wire . May 15, 2003. * ^ "Hardware: Leucadia To Acquire Remainder Of Wiltel". Bloomberg News . The New York Times . August 13, 2003. * ^ George, John (September 29, 2003). " Leucadia National buys RehabWorks". American City Business Journals
American City Business Journals
. * ^ Swarts, Will (January 12, 2004). "Gotham Partners\' Ackman Back in Hedge Fund Game". TheStreet.com . * ^ BELSON, KEN (July 13, 2004). "Leucadia Seeks to Buy Controlling Stake in MCI". The New York Times . * ^ Tharp, Paul (July 13, 2004). "LEUCADIA EYES MCI TAKEOVER". The New York Post . * ^ Stern, Christopher (September 28, 2004). "Declared Suitor Sells Its Stake In MCI". The Washington Post . * ^ " Leucadia National Corporation Completes Sale of WilTel Communications Group, LLC to Level 3 Communications, Inc" (Press release). Business Wire
Business Wire
. December 23, 2005. * ^ "Gaylord Sells Mainland ResortQuest Business". Hotel Business Review. June 5, 2007. * ^ "Berkadia Commercial Mortgage LLC Completes Acquisition of Capmark\'s North American Loan Origination and Servicing Business" (Press release). Business Wire
Business Wire
. December 11, 2009. * ^ "Wyndham to buy ResortQuest for $56 million". Bloomberg News . NJ.com . September 22, 2010. * ^ " Leucadia National Corporation Announces Agreement to Acquire Control of National Beef and Declares $0.25 Per Share Cash Dividend" (Press release). Business Wire
Business Wire
. December 5, 2011. * ^ Hawleyt, Brenna (December 6, 2011). "National Beef owners reach $867.9M deal to sell majority stake to Leucadia". American City Business Journals . * ^ Murtaugh, Dan (January 12, 2012). "Illinois ruling hurts Leucadia synthetic gas proposal". The Birmingham News . * ^ " Leucadia National Corporation and Jefferies Group, Inc. Merger to Be Effective March 1, 2013" (Press release). Business Wire
Business Wire
. February 28, 2013. * ^ Stone, Mike; Chavez-Dreyfuss, Gertrude; Toonkel, Jessica (January 16, 2015). "FX broker FXCM
FXCM
gets rescue from Jefferies parent Leucadia". Reuters
Reuters
. * ^ "Leucadia and FXCM
FXCM
Complete Long-Term Partnership Agreement" (Press release). GlobeNewswire . September 1, 2016.

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