GE Capital Services reaches agreement to buy Lake of Japan
Article Abstract:
GE Capital Services Corp., the financial services unit of General Electric Co., announced it has agreed to acquire the consumer-finance operations of Osaka, Japan-based Lake Co. for an undisclosed amount. According to the deal, GE Capital will set up the Lake operations as a subsidiary and it will retain its name, trademark and consumer-finances business infrastructure. This includes all of its 2,700 employees and 564 retail branches throughout Japan. The other non-consumer-finances operations of Lake which are not being purchased by GE Capital will remain a separate entity with a new name. The move will assist GE Capital services in its drive to expand into Japan's consumer-finances market.
Comment:
GE Capital to acquire the consumer-finance operations of Lake Co. for an undisclosed amount
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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UPS agrees to settle racial-bias lawsuit, will pay $12.1 million
Article Abstract:
A lawsuit originally filed in 1997 in Oakland, Calif., against UPS is to be settled pending approval by the presiding judge. The award of $12.1 million is going to 12,000 current and former part-time and full-time black workers in 10 states in the West. The suit contends that black part-timers were not informed about how to become full-time and advance. Full-timers, the suit says, were not given opportunities for the best driver routes or afforded advancement opportunities. UPS says the settlement isn't necessarily an admission of guilt.
Comment:
Awaiting judge's approval to settle '97 lawsuit
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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