July 1, 1989 |
Los Angeles County Supervisor Mike Antonovich admitted Friday that he failed to report properly an apparently illegal $100,000 loan for his 1986 Republican primary campaign for the Senate, but he said the mistake was purely technical. "I thought it was OK," Antonovich said at a press conference. "Three years later, I am being apprised that this is a technical violation."
May 28, 1989 |
The startling news that House Majority Whip Tony Coelho plans to quit Congress rather than face a House probe into his personal finances has put a spotlight on the business and political activities of Thomas and Abraham Spiegel, majority owners of Columbia Savings & Loan in Beverly Hills. Thomas Spiegel, Columbia's chief executive, played a key role in Coelho's downfall by advising the Democratic congressman from Merced to buy a $100,000 "junk bond" in 1986, financed in part by a $50,000 loan from Columbia Savings.
September 14, 1989 |
When Mayor Tom Bradley and his fellow investors needed to make a balloon payment in late 1985 on a Riverside land partnership headed by Juanita St. John, the mayor turned to Abraham Spiegel and obtained a $50,000 loan from Columbia Savings & Loan Assn. with Spiegel's help, according to the city attorney's report issued Wednesday. The loan was among a number of favors exchanged over the years between the mayor's office and Spiegel, the founder and vice chairman of Columbia.
October 1, 1989 |
At first glance it is hard to understand how Mayor Tom Bradley and Abraham Spiegel became such close friends because the two men appear to have little in common. Bradley's personality is reserved and he has a reputation as a penny pincher. Spiegel greets friends effusively and has been known to hand out $5 bills to every parking attendant in sight at the City Hall garage. Spiegel can be brutally outspoken as well. Bradley's politics are liberal.
May 23, 1986
The suit accused the directors of the S&L of breaching their fiduciary duties when they recently approved a new class of preferred stock that was intended to help the Spiegel family consolidate its control over the Beverly Hills company. Defendants in the suit, which was filed in Los Angeles County Superior Court, include Chairman Abraham Spiegel and his son, Thomas, who is chief executive. Thomas Spiegel declined comment.
April 17, 1987 |
Thomas Spiegel, 40-year-old chief executive of Columbia Savings & Loan, took a sharp pay cut in 1986 but still received compensation of about $4.38 million, according to the company's latest proxy statement. Though huge by the standards of the savings and loan industry, the $4.38 million is less than half the $9-million compensation package that Spiegel received in 1985. That made him one of the best-paid executives in corporate America.