Business briefs: TXU could soon go private

The biggest power generator in Texas could soon belong to private owners, after shareholders of TXU Corp. (TXU) voted to sell the company for $32 billion in one of the largest leveraged buyouts ever. Investors led by private equity firms Kohlberg Kravis Roberts & Co. and TPG, formerly Texas Pacific Group, hope to get the last regulatory approval and complete the deal in the next few weeks.

Robert Eckert

In the seven years since the CEO took over Mattel Inc. (MAT), the world’s largest toy maker has gone from struggling with sagging sales and unhappy shareholders to a leaner, more profitable company. Now, the man credited with that turnaround is on the defensive, forced to explain to Congress how some of his decisions resulted in three high-profile recalls this summer.

Countrywide

The struggling lender said it will cut as many as 12,000 jobs as it struggles to deal with challenging conditions in the mortgage industry. Countrywide Financial Corp. (CFC) said the cuts are needed because it expects new mortgages to fall about 25 percent in 2008 from this year’s levels.

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Boudin halts prosecution of man shot by police in Mission

Newly elected District Attorney Chesa Boudin has withdrawn the criminal complaint against… Continue reading

‘Mad Mob’ aims to influence SF City Hall on mental health policies

They are fed up with City Hall telling those who need the services what’s best for them

‘Trump chicken returns to SF Bay with new companion

The Trump Chicken will return to San Francisco Bay on Saturday, but… Continue reading

Police efforts to stem 49ers revelry in Mission District spark backlash

SFPD preparing for potential bonfires, vandalism on Super Bowl Sunday

Calendar of Events: San Francisco celebrates the Year of the Rat

JAN. 25 Choy Sun Doe Day: The San Francisco Chinese Chamber of… Continue reading

Most Read