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California: News and Insight on Business in the Golden
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Also. . .

March 11, 1998

* Culver City-based Pacific Coast Apparel Co. said it will acquire closely held CMG Inc. of Los Angeles for an undisclosed amount of stock and cash. Pacific Coast, which makes casual sportswear under the Aca Joe and Cotton Stuff brand names, expects the acquisition of the maker of Chazz clothes to be completed in May.

* Los Angeles-based Franchise Mortgage Acceptance Co., or FMAC, said it agreed to buy privately held Bankers Mutual to enter the multifamily housing mortgage business in California and other Western states.

* Commerce-based 99 Cents Only Stores Inc. reported fourth-quarter net income of $6.2 million, or 33 cents per diluted share, compared with $4.6 million, or 24 cents, a year ago.

* Pasadena-based Wesco Financial Corp. reported fourth-quarter net income of $73.9 million including a one-time gain, or $10.38 per share, compared with $7.7 million, or $1.07, a year earlier.

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