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Broadway Stores, Inc. was an American retailer based in Southern California. Known through its history as Carter Hawley Hale Stores and Broadway Hale Stores over time, it acquired other retail store chains in regions outside its California home base and became in certain retail sectors a regional and national retailer in the 1970s and 1980s. It entered into Chapter 11 bankruptcy in 1991 and, eventually, its assets were completely sold off.

Early history

The chain's beginnings date from The Criterion store founded in Sacramento, California in 1880 by the Hale Brothers, Prentis Cobb Hale I and Marshal Hale and adopted their name later the same year. By 1936, scion Prentis Cobb Hale worked as a stock clerk in the family store after he graduated from Stanford University. The company had expanded throughout Northern California, including a location at 989 Market Street in San Francisco by 1902 (replaced in 1912 by a location at 901 Market Street). By 1949, the company had acquired its rival Weinstock, Lubin & Co., based in Sacramento.

In 1950, as Los Angeles began to grow in population very rapidly and assumed dominance within the state, the fast-growing The Broadway Department Stores (founded in 1896) based there negotiated an all-stock merger with Hale Bros. Stores, Inc. Edward W. Carter, president of The Broadway, became the president of Broadway-Hale Stores.

The newly enlarged company began to grow aggressively with its Broadway stores expanding south to San Diego in 1961 and east to Phoenix, Arizona in 1968. A mail order firm named the Sunset House was also acquired in 1968.[1][2] In 1970, the company acquired Emporium-Capwell Co.,[3][4] itself the holding company for Emporium in San Francisco (and suburbs) and Capwell's (H.C. Capwell Co.) in Oakland (and suburbs) and keeping their respective names on the stores in the San Francisco Bay Area.

Also in 1969, Broadway-Hale acquired the then 3-unit Neiman Marcus specialty department store based in Dallas, Texas,[5][6] and the Walden Book Co. (known more commonly as Waldenbooks)[7] and began to actively grow those businesses nationwide.

The 1970s-1980s

In 1972, Prentis Hale retired as chairman, Edward Carter assumed the chairmanship and Philip M. Hawley (who started as a women's sportswear buyer in 1958) became company president. In 1974, in a news release it states, CHH stated that to reflect the executives' contributions, the corporate parent was adopting the name Carter Hawley Hale Stores, Inc.[8] The new name was a major tongue twister, and stock analysts sometimes called it "Ego, Inc."[citation needed] The Wall Street Journal reported in 1984 that some critics accused Carter and Hawley on being on an "ego trip".[9] In 1977, Carter retired. Hawley was appointed CEO.[10]

The company continued to be an active acquirer, in 1972 acquiring Bergdorf Goodman in New York,[11][12] and Holt Renfrew of Montreal, Canada.[13] After attempting an ill-fated, unsuccessful hostile takeover of Marshall Field in 1977,[14][15][16][17] the company acquired the venerable but tattered John Wanamaker's of Philadelphia for $60 million (cash) in April 1978.[18][19] That was followed by a stock swap for Thalhimers of Richmond, Virginia in August 1978.[20] Contempo Casuals was a May 1979, takeover.[21] Emporium and Capwell's were merged to form a unified San Francisco Bay-area presence as Emporium-Capwell in 1980,[22][23] Weinstock's moved into Utah and Reno, Nevada, and The Broadway stores were split into separate Los Angeles and Phoenix-based divisions as the chain expanded into Colorado, New Mexico and Nevada. Sales increased, but profits did not. The saying on Wall Street was "God gave them Southern California, and they blew it", which the Wall Street Journal had attributed to Monroe H. Greenstein, a retailing analyst at Bear Stearns.[9]

In 1980, CHH decided that it want to get rid of units that had catered to lower economic scale. The first to go was the Sunset House mail order unit that also operated novelty shops in shopping malls.[24][25] CHH found a buyer that only wanted the mail order unit and the mall stores were closed in 1981.[26]

Faced with continuing poor results, and two hostile takeover attempts by The Limited in 1984[27] and 1986,[28] the company, still led by Phillip M. Hawley, reacted by first selling Waldenbooks to K-mart in 1985,[29] Holt Renfrew to the Weston Family in April 1986,[30][31] Wanamaker's to A. Alfred Taubman's Woodward & Lothrop in January 1987[32] and then splitting off the desirable specialty store business as Neiman-Marcus Group, Inc. (encompassing the Neiman-Marcus, Bergdorf Goodman and Contempo Casuals stores). The company that had rescued Carter Hawley Hale from The Limited takeover-attempts, theater owner/soft-drink bottler-cum-investment company General Cinema (later renamed Harcourt General) assumed majority ownership of Neiman-Marcus Group as its reward.[33] Thalhimer's was sold to May Department Stores in December 1990.[34]

The 1990s and the end

From its heights in 1984 as the sixth largest department store chain firm in the United States, CHH fell into Chapter 11 bankruptcy in 1991.[35][36] Besides the financial problems of surviving the 1980s era of hostile takeovers, the main California department store business had faltered because of increasing competition from Nordstrom.

In 1992, after one and one-half years of bankruptcy negotiations, financier Sam Zell and his Zell/Chilmark Fund completed the reorganization of the newly renamed Broadway Stores, Inc., taking a 75 percent stake.[37] In early 1993, the three Utah-based Weinstock's stores were closed and the store leases were sold to Mervyns,[38] Dillard's,[39] and ZCMI.[40]

After the takeover by Zell, Hawley was replaced as CEO by David Dworkin.[41] Dworkin tried to slow the outward flow of cash from the company by remodeling stores and streamlining operations.[42] In June 1994, the shareholders of Carter Hawley Hale Stores, Inc. voted to change the name of the company to Broadway Stores, Inc.[43] to symbolize a change in the ailing company, but it was too late to make a difference.

The final blow came on August 8, 1995 when the firm's lenders announced that they would not advance the company any additional funds that was needed to pay suppliers for new and existing inventory.[44][45] A week later, the firm announced it's sale to Federated Department Stores which effective marked the beginning of the end to the remnant nameplates that the stores had operated under.[46][47]


The newly streamlined company was short-lived, however. In August 1995, Federated Department Stores agreed to acquire Broadway Stores. The chain was dissolved in 1996 as Federated consolidated the former Broadway, Emporium and Weinstock's stores, along with its own Macy's California and Bullock's chains (acquired in 1994),[48] to form Macy's West.[49] Several duplicative units were sold to Sears or shuttered, while Federated also used the real estate of five stores (Emporium-Capwell Stanford Shopping Center, Broadway Sherman Oaks Fashion Square, Broadway Century City Shopping Center, Broadway Beverly Center, and Broadway Fashion Island Newport Beach) to finally bring its Bloomingdale's chain to the West Coast.[50]

On September 28, 2006, Emporium-Capwell's Market Street flagship was redeveloped to house another Bloomingdale's location as well as an expansion of the adjoining shopping center Westfield San Francisco Centre.[51] In addition, the one-time CHH Corporate Offices in the former Superior Oil Company Building at 550 South Flower Street in Los Angeles, right next door to The California Club (of which Carter and Hawley were members), were converted into a three-star boutique hotel called "The Standard."[52]

ERISA case

Carter Hawley Hale also is known as a famous case study regarding its retirement plans. Because it offered its employees a profit-sharing plan, and not a retirement fund, under the Federal ERISA pension plan law, the trustee was under no obligation to diversify the fund. Because of the nondiversification and continued purchase of Carter Hawley Hale stock, the employee fund soon was stuck with a precipitous loss in value. Its employees’ low morale contributed to its problems.[53][54][35]

Advertising

The longtime print and television/radio media advertising slogans during the 1970s until The Broadway closed for good were "It's at the Broadway" (radio and television only) and "The Broadway is Southern California" (all media). A baritone male voice over announcer provided the verbalized slogan.

See also

References

  1. ^ Bush, Thomas W. (August 23, 1968). "Broadway-Hale Agrees to Buy Sunset House for $13.5 Million". Los Angeles Times. p. e13. Sunset House would operate under present management as an autonomous subsidiary of Broadway-Hale. Carter said acquisition of the company is "a first step in our announced program of corporate diversification, and Sunset House will provide us with new opportunities through its nationwide mail order distribution of consumer goods." {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  2. ^ "Broadway-Hale Stores Shareholders Approve Sunset House Purchase". Wall Street Journal. November 29, 1968. p. 7. Shareholders of Broadway-Hale Stores Inc. approved their company's acquisition of Sunset House, a specialty mail-order concern at a special meeting. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  3. ^ Auerbach, Alexander (June 26, 1970). "Arrangements Set for Broadway-Hale, Emporium Merger". Los Angeles Times. p. d13. Broadway-Hale Stores Inc. and Emporium-Capwell Co. Thursday announced a formal plan of merger and reorganization, following the lines of a preliminary merger plan announced May 11. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  4. ^ "Emporium Capwell Co., Broadway-Hale Stores Agree to a Merger: Emporium Will Give 1 1/8 Shares for Each Share of Broadway-Hale; Holders of Both Must Approve". Wall Street Journal. May 12, 1970. p. 16. Emporium Capwell Co. and Broadway-Hale Stores Inc., both West Coast retailers, announced an agreement in principle to merge. Emporium Capwell would be the surviving corporation, but its name would be changed to Broadway-Hale Stores Inc. In a joint statement, the companies said that Prentis C. Hale, chairman of Broadway-Hale, and Edward W. Carter, its president and chief executive officer, would serve as chairman and president respectively of the merged corporation. Emporium Capwell stores would be operated under their present management. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  5. ^ "Neiman-Marcus Holders Vote Merger Into Broadway-Hale". Wall Street Journal. April 9, 1969. p. 29. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  6. ^ "Broadway-Hale Stores, Neiman-Marcus Agree In Principle to Merge: Transaction Valued at $39 Million; Terms Call for Broadway-Hale To Issue Convertible Preferred". Wall Street Journal. October 24, 1968. p. 11. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  7. ^ "Features: Broadway Results Peak In 3D Quarter". Women's Wear Daily. Vol. 119, no. 105. December 1, 1969. p. 12. Broadway-Hale Stores, Inc., has acquired Walden Book Co., Stamford, Conn., a national retailer of books, a spokesman confirmed. Link via ProQuest.
  8. ^ "Broadway's Parent to Take New Name". Los Angeles Times. February 12, 1974. p. c9. But when Broadway-Hale Stores Inc. directors decided it was time for a change they just looked around the table. The Los Angeles firm, parent of the Broadway Stores, Neiman-Marcus, Capwell's and other retail operations, will be known as Carter Hawley Hale Stores Inc., if the shareholders approve. The name is taken from its principal executives: Edward W. Carter, board chairman; Philip M. Hawley, president; and Prentis C. Hale, chairman of the executive committee. Operating divisions will retain their present names. The company said "Broadway-Hale" was too often confused with the Broadway Stores retailing unit. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  9. ^ a b Gottschalk, Earl C., Jr. (April 12, 1984). "Carter Hawley Chief Finds Firm Is Target Of Takeover After Own '70s Buying Binge". Wall Street Journal (Eastern ed.). p. 1. In the past few years Carter Hawley has also lost market share In California because of a retailing invasion by R.H. Macy & Co. and Nordstrom, retailers says. "God gave them California and they blew it," says Monroe H. Greenstein, retailing analyst at Bear, Stearns & Co... Mr. Hawley's personality is at the heart of the company's operations, and that seems to be a mixed blessing... In 1972 he was appointed president of Broadway Hale Stores Inc. Three years later, the company changed its name to Carter Hawley Hale Stores Inc., provoking some gripes that Edward W. Carter, chairman, and Mr. Hawley were on an "ego trip". In 1977 Mr. Hawley was named chief executive officer, replacing Mr. Carter. Last year, when Mr Carter retired, Mr. Hawley became chairman. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help)CS1 maint: multiple names: authors list (link) Alternate Link via ProQuest.
  10. ^ Getze, John (January 6, 1977). "Hawley Named Chief of Broadway Stores Parent". Los Angeles Times. p. D10. Philip M. Hawley Wednesday was elected chief executive officer of Carter Hawley Hale Stores Inc., the nation's seventh-largest department store chain. Hawley, 51, has been president of the Los Angeles-based company since 1972. He joined the firm in 1958 and became president of the Broadway Slores division in 1968. Hawley, who will assume his new responsibilities Feb. 1. succeeds Edward W. Carter. the company's 65-year-old chairman of the board, in the post of chief executive. Carter will remain chairman and continue to be active in the firm's management. Carter has been chief executive since 1946, when the company consisted of three Broadway department stores {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  11. ^ "Broadway-Hale Stores Allowed by FTC to Buy Bergdorf Goodman Co.: Panel Agrees New York Retailer Likely Would Close Without Merger for Lack of Funding". Wall Street Journal. April 14, 1972. p. 30. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  12. ^ Sloane, Leonard (March 25, 1971). "West Coast Chain To Buy Bergdorf's: Bergdorf Goodman to Be Bought by Broadway-Hale Stores, a West Coast Chain". New York Times. p. 1. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  13. ^ "Broadway-Hale to Acquire 19-Store Canadian Retailer". Los Angeles Times. December 22, 1971. p. d13. Broadway-Hale Stores Inc. of Los Angeles reported Tuesday that it has agreed to puchase Holt, Renfrew & Co. Ltd., a 19-store Canadian fashion retailing chain, from a subsidiary of CIT Financial Corp... Canadian Acceptance Corp., Ltd., a unit of New York-based CIT. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  14. ^ Wiener, Leonard (February 2, 1978). "Carter Hawley raises its bid to buy Fields". Chicago Tribune. p. C6. Alternate Link via ProQuest.
  15. ^ Auerbach, Alexander (February 2, 1978). "Carter Hawley Hale Will Push Field Bid: Planned Tender Offer May Total $380 Million". Los Angeles Times. p. e12. Carter Hawley Hale Stores Inc., Los Angeles, Wednesday announced plans (or a tender offer for the stock of Marshall Field & Co., Chicago. At current prices, the offer could be worth a total of $380 million. Field's officers and directors unanimously rejected an informal merger proposal by Carter Hawley Hale last month. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  16. ^ Wiener, Leonard (February 23, 1978). "Business: Carter Hawley withdraws bid for Fields Bid to control Fields dropped". Chicago Tribune. p. c7. Carter Hawley Hale Stores, Inc., Wednesday dropped its attempt to take over Marshall Field & Co. Carter Hawley, based in Los Angeles, operates department stores across the country and has been publicly courting Fields since December. Other big retailing chains also have been reported interested in Fields, a retailer with a well-regarded name but one that only recently has begun to overcome past management and financial problems. Alternate Link via ProQuest.
  17. ^ Auerbach, Alexander (February 23, 1978). "Carter Hawley Hale Drops Bid for Field: Offer No Longer Makes Economic Sense to L.A. Firm". Los Angeles Times. p. d13. Carter Hawley Hale Stores Inc., Los Angeles, Wednesday said it is withdrawing its proposed offer to acquire Marshall Field & Co., Chicago, because the hotly contested bid "no longer makes economic sense." The action ended a four-month effort by Carter Hawley to acquire the reluctant Field. Despite an offer of twice its market price, the Chicago firm escaped by throwing up a curtain of lawsuits and transforming itself into a company no longer attractive to its pursuer. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  18. ^ "Wanamaker Takeover". Washington Post. March 10, 1978. p. B8. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  19. ^ Auerbach, Alexander (March 9, 1978). "Carter Hawley Hale Will Buy J. Wanamaker: Broadway's Parent to Pay About $45 Million for Philadelphia Chain". Los Angeles Times. p. d13. Carter Hawley Hale Stores Inc., Los Angeles, Wednesday announced that it will acquire John Wanamaker, a Philadelphia-based department store chain, for about $45 million in cash and common stock. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  20. ^ Knight, Jerry (June 20, 1978). "Thalhimer's Acquired by Carter Hawley". Washington Post. pp. E1–E2. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  21. ^ "Carter Hawley Acquisition". Wall Street Journal. May 17, 1979. p. 14. Carter Hawley Hale Stores Inc. said it acquired the outstanding stock of Contempo Casuals, a retailer of women's sportswear, in a private cash transaction. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  22. ^ "Merge Emporium, Capwell Divisions". WWD. Vol. 140, no. 36. February 21, 1980. pp. 1–2. The Emporium and H.C. Capwell divisions of Carter Hawley Hale have been combined into a single division, Emporium Capwell, with a single management team. Hawley noted the two divisions, now operating as one, will be able to make a stronger impact in use of media and customers now will have charge accounts in 18 stores. Link via ProQuest.
  23. ^ "California: Carter Hawley Hale will link two Northern California chains". Los Angeles Times. February 21, 1980. p. f2. effective May 1, its Emporium and Capwell divisions will combine their operations and management in the San Francisco-Oakland areas. The 12 Emporiums and six Capwell's all will be known as Emporium Capwell. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  24. ^ "Carter Hawley to Sell Assets of Sunset House Unit". Los Angeles Times. November 11, 1980. p. e2. In a move that signals the new strategy of Carter Hawley Hale Stores Inc. to go after the affluent consumer, the Los Angeles-based retailer announced Monday that it has made arrangements to sell the assets of its Sunset House division to a group of private investors. The sale price for Sunset House, a specialized retailer which has a nationwide gifts and novelties mail order business and 42 stores in the Southwest, was not disclosed, nor were the names of the investors. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  25. ^ "Carter Hawley Hale to Sell Unit's Assets". New York Times (Late (East Coast) ed.). November 11, 1980. p. D.4. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  26. ^ "N.Y. Firm to Buy Portion of Sunset House". Los Angeles Times. January 8, 1981. p. f2. Unit Buying Service Co. Inc., a catalogue mail-order merchandiser, disclosed Wednesday that it has agreed to purchase the mail-order portion of Sunset House Corp., a wholly owned subsidiary of Carter Hawley Hale Stores Inc., Los Angeles. A spokesman for the Hicksville, N.Y.-based retailer said the company will pay between $3.5 million and $5 million for the trademark and trade names "Sunset House" and "Beauty Showcase;" the complete customer mailing list, and certain outlets located in the Southwest. Carter Hawley Hale would not comment on the fate of the stores or on the agreement. Carter Hawley Hale purchased the Sunset House unit in 1968 but put it up for sale last year, saying itno longer fit into the chain's "corporate strategy." {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help) Alternate Link via ProQuest.
  27. ^ Barmash, Isadore (April 3, 1984). "Carter Hawley Bid By Limited". New York Times.
  28. ^ Groves, Martha (November 26, 1986). "Carter Hawley Hale Again Targeted in Takeover Bid". Los Angeles Times.
  29. ^ Barmash, Isadore (July 24, 1984). "K Mart to Acquire Waldenbooks". New York Times.
  30. ^ Rivera, Nancy (February 19, 1986). "Carter Hawley to Sell Its 15-Store Unit in Canada". Los Angeles Times.
  31. ^ Dunn, Brian (February 19, 1986). "Weston To Buy Holt Renfrew". Montreal Gazette. pp. F-1.
  32. ^ Groves, Martha (November 5, 1986). "Wanamaker Will Be Sold by Carter Hawley : Analysts Estimate Value of Deal at $180 Million". Los Angeles Times.
  33. ^ Yoshihara, Nancy (December 9, 1986). "Carter Hawley Hale Splits Up : General Cinema the Winner in Split-Up of Carter Hawley". Los Angeles Times.
  34. ^ Silverstein, Stuart (October 10, 1990). "Carter Hawley Posts Loss of $26 Million; Will Cut Staff". Los Angeles Times.
  35. ^ a b Silverstein, Stuart (February 11, 1991). "Carter Hawley Files for Chapter 11 : Retailing: The Los Angeles-based company's stores will remain open while it seeks to reorganize". Los Angeles Times. Among the hardest hit by Carter Hawley's bankruptcy court filing could be many of its 29,000 employees, particularly about 14,000 who have participated in the company's 401(k) savings plan. The plan, designed both to augment employees' pension benefits and to strengthen the company's takeover defenses, holds 45% of Carter Hawley's stock.
  36. ^ Stevenson, Richard W. (February 12, 1991). "Chapter 11 For Carter Hawley". New York Times.
  37. ^ White, George (July 8, 1992). "Carter Hawley Hale Files Reorganization Plan : Retailing: Broadway's parent company moves to eliminate debt and emerge from bankruptcy protection". Los Angeles Times.
  38. ^ Knudson, Max B. (September 10, 1992). "Mervyn's Chain Will Buy 2 Stores From Weinstocks". Deseret News.
  39. ^ "Dillard Department Stores to Open Shop at Fashion Place". Deseret News. March 25, 1993.
  40. ^ Knudson, Max B. (June 16, 1994). "Ogden Zcmi to Move Across Street In Mall". Deseret News.
  41. ^ White, George (February 10, 1993). "CEO Named at Carter Hawley Hale : Retailing: The Broadway's parent firm chooses a successor to Philip Hawley to oversee a hoped-for turnaround". Los Angeles Times.
  42. ^ White, George (June 17, 1994). "Broadway's Make-Over : New CEO Remodels Stores and the Corporate Culture". Los Angeles Times. Carter Hawley operates 52 Broadway, 22 Emporium and nine Weinstocks stores in five states.
  43. ^ "Retailing". Los Angeles Times. June 18, 1994.
  44. ^ Schmeltzer, John (August 8, 1995). "Zell Can't Make A Hit Out Of Broadway Stores: Lending Firms Cut Off 82-unit Chain In West: Stock Price Plummets". Chicago Tribune.
  45. ^ "Bankruptcy Fears Take Big Toll On Broadway Stores' Shares". New York Times. August 8, 1995.
  46. ^ "Federated to Buy Broadway Stores For $1.6 Billion". New York Times. August 15, 1995.
  47. ^ White, George; Silverstein, Stuart (August 15, 1995). "Federated Stores to Buy Broadway in $373-Million Deal : Retail: Merger would erase the Broadway name from Southland scene, likely spur closures, layoffs. Many sites would be converted to Bullock's, Macy's, Bloomingdale's". Los Angeles Times. Broadway Stores operates 52 stores under The Broadway name--41 of them in California and the rest in Nevada, Arizona, New Mexico and Colorado. The company also operates 21 Emporium and eight Weinstocks stores in Northern California. Broadway Stores also operates a Weinstocks store in Nevada. {{cite news}}: Unknown parameter |last-author-amp= ignored (|name-list-style= suggested) (help)
  48. ^ White, George; Apodaca, Patrice (October 13, 1995). "All Bullock's Stores to Be Converted to Macy's". Los Angeles Times. {{cite news}}: Unknown parameter |last-author-amp= ignored (|name-list-style= suggested) (help)
  49. ^ White, George (November 18, 1995). "Broadway to Convert 40 in Store Chain to Macy's : Retailing: New owner Federated also plans to sell nine sites to Sears and seeks buyers for 10 more facing closure in early 1996". Los Angeles Times.
  50. ^ Callender, Ealena (February 16, 1996). "Going Upscale : Beverly Center Broadway Will Become Bloomingdale's". Los Angeles Times.
  51. ^ Nolte, Carl (September 24, 2006). "Westfield San Francisco Centre / 'Queen of Market Street' is all dressed up, ready for grand debut". San Francisco Chronicle.
  52. ^ Pettera, Angela (March 15, 2001). "Mastro's to Serve Steaks at Former Chasen's Site". Los Angeles Times.
  53. ^ Monks, Robert A.G.; Malden, Nell (2004). Corporate Governance. Wiley. pp. 434–435. ISBN 9780470972748. OCLC 51983211.
  54. ^ Monks, Robert A. G.; Minow, Nell (2008). Corporate Governance (4 ed.). John Wiley & Sons. pp. 503–513. ISBN 9781405171069. OCLC 124075003. {{cite book}}: Unknown parameter |last-author-amp= ignored (|name-list-style= suggested) (help)
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