Cubs Pull World Series Ticket Offer To Aldermen NBA, Union Nearing Deal To Extend CBA Westbrook, Irving To Endorse Mountain Dew San Diego State Names Wicker AD NBA Renews Deal With Kumho Tire Scottrade Center To Bear TD Ameritrade Name CBS Leads Week 8 College Football Kraft Mum On Political Lean For Election World Series Secondary Tickets At Super Bowl Levels DFS Sites Near Settlement With N.Y. Attorney General
After years of "struggling to revive" L.A. Gear Inc., Trefoil Capital Investors L.P., one of Roy Disney's investment vehicles, has sold its 42% controlling interest in the company to CA-based PCH Investments, according to Kathryn Kranhold of the WALL STREET JOURNAL. Trefoil reportedly took "a substantial loss" on the deal, and that it's unclear whether Trefiol "even received the market value for the shareholding." Former L.A. Gear Chair Stanley Gold: "We've lost a substantial amount of money." Gold, and six of eight directors, "will resign immediately," and 36-year- old David Gatto, who joined L.A. Gear as CAO in June, will become Chair & CEO. Through the first six months of the year, L.A. Gear reported a net loss of $9.6M, or $.61 a share, on revenue of $63M (WALL STREET JOURNAL, 10/14).