Word: semenenko
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...million, which could wipe out most of Curtis' $28 million bank debt -down from $36 million after the sale of Curtis' Lock Haven, Pa., paper mill earlier this year. "We are over the hill," says the vice chairman of Boston's First National Bank, Serge Semenenko, the financier who put together a $35 million loan for Curtis in 1963 and has been riding herd on the company ever since. "The first phase has ended," Semenenko says. "That was to save the company. The second phase is about to begin: an infusion of talent, brains, funds; possible acquisitions...
...fired. Both stayed on Curtis' board-and last week both brought suit against Curtis for the unpaid balance of their contracts, which have two more years to run. The suit is directed against Curtis, the First National Bank of Boston and First National's Vice Chairman Serge Semenenko, the man who arranged a $35 million bank loan for Curtis last year...
...whole messy business with a plaintive announcement that "policy differences" would not deter them from "proceeding vigorously with plans which have been under consideration for strengthening the company's operations." But President Joe Culligan was still to be heard from. With the powerful support of Boston Banker Serge Semenenko, who put together the consortium of banks that saved Curtis last year, Culligan ripped the whole thing wide open again as he lashed back at his foes. Blair and Kantor, he decreed, were henceforth "relieved from all duties" and "placed on inactive status with temporary leaves of absence pending further...
Equal Advantage. The credit that Semenenko raised has given Curtis much-needed time to recover. Among its unresolved problems is a spate of five libel suits. Last summer a Georgia jury awarded $3,060,000 in damages to Georgia University Athletic Director Wally Butts, whom a Post article had accused of conspiring to fix a football game. The judgment has been appealed and may well be reduced-but four other suits, asking a total of $24.5 million, still await trial. It may be necessary, said Culligan, to establish a special reserve fund to accommodate such legal actions...
...shadows could dampen the new mood of optimism about Curtis' future. At a press conference after the stockholders' meeting, Banker Semenenko hinted at Curtis plans to expand into book publishing, television broadcasting, and perhaps in other directions. "It will be advantageous," he said, "for Curtis to acquire such companies." Nor did he rule out the possibility that other companies might find it equally advantageous to buy into Curtis. "Many companies will want to merge with Curtis," said Semenenko. "Many have already made overtures...