- Leucadia National
Leucadia National Corporation (nyse|LUK) is a
holding company that, through its subsidiaries, engages inmining &drilling services,telecommunications ,healthcare services,manufacturing ,banking andlending ,real estate , andwinery businesses with a market cap of about $6.6 billion as of 12/06. Leucadia is known as a "miniBerkshire Hathaway " with an average annual return of over 22%.Leucadia's highest profile move to-date (
as of 2005 ) was a bid in 2004 to acquire 50 percent of telecommunications company MCI's common stock. However, after MCI received higher bids from other companies, Leucadia withdrew from the bidding process. [http://global.mci.com/about/news/releases/2004/2004.xml?newsid=11170&mode=long&lang=en&width=530&root=/about/news/releases/2004/&subroot=2004.xml]Leucadia executives
Ian Cumming andJoseph Steinberg both graduated in the sameHarvard Business School Class of1970 . They joined Leucadia around1979 . Ian Cumming (aVancouver native) and Joseph Steinberg each own about 13% of Leucadia's shares. [http://quote.bloomberg.com/apps/news?pid=71000001&refer=home&sid=a8AcHeDVuih8]Leucadia is headquartered in
New York City , but has additional offices inSalt Lake City, Utah .Executives as of 2007
* Ian M. Cumming:Chairman, Chief Exec. Officer and Chairman of Exec. Committee:Total 2006 pay was $7,896,730 (as presented in 4/17/2007 proxy statement.)
* Joseph S. Steinberg:Pres, Chief Operating Officer, Director and Member of Exec. Committee:Total 2006 pay was $7,916,645
* Joseph A. Orlando:Chief Financial Officer and VP:Total 2006 pay was $1,344,259
* Thomas E. Mara:Exec. VP and Treasurer:Total 2006 pay was $1,584,930
* H.E. Scruggs:VP:Total 2006 pay was $877,373Trivia
The company's name comes from the seaside town in Southern California and was chosen randomly after several other choices were rejected during the incorporation process. Cumming and Steinberg spotted the sign along the freeway and suggested it as an alternative.(2007 Annual Report)
Other Investments
WMAC Investment Corp., a subsidiary of Leucadia, is the largest backer of Pershing Square Capital Management L.P., a Delaware-incorporated investment partnership.
William Ackman is the founder of the $300 million+ activist hedge fund Pershing Square. The Fund had 40%+ returns over the past 2 years.Fact|date=February 2008External links
* [http://www.leucadia.com/ Leucadia.com - Official Website]
* [http://www.google.com/search?oi=stock&q=stocks:LUK Stock quote and financial information]Regulatory Filings
* [http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000096223&owner=include&count=40 SEC.gov - the EDGAR database] Leucadia National - EDGAR Filings (CIK: 0000096223)
References
* Leucadia National Corporation Annual Report 2007
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