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BUSINESS
July 28, 1989 | PAUL RICHTER, Times Staff Writer
Paramount Communications, taking the last step to becoming a pure media and entertainment concern, said Thursday that it has agreed to sell its big finance arm to Ford Motor Co. for $3.35 billion. The sale of Associates Corp., the nation's third-largest independent finance company, will bring Paramount net proceeds of $2.7 billion and an after-tax profit of $1.3 billion, Paramount said.
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NEWS
February 2, 1990 | DAN MORAIN, TIMES STAFF WRITER
In the strongest action yet against one of the largest owners of housing for the poor, Housing and Urban Development officials said Thursday that they have suspended a Santa Monica company from taking over any additional housing projects. HUD General Counsel Frank Keating said the agency's inspector general has begun a broad investigation of Associated Financial Corp., which is run by influential Democratic fund-raiser A. Bruce Rozet of Brentwood.
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NEWS
February 2, 1990 | DAN MORAIN, TIMES STAFF WRITER
In the strongest action yet against one of the largest owners of housing for the poor, Housing and Urban Development officials said Thursday that they have suspended a Santa Monica company from taking over any additional housing projects. HUD General Counsel Frank Keating said the agency's inspector general has begun a broad investigation of Associated Financial Corp., which is run by influential Democratic fund-raiser A. Bruce Rozet of Brentwood.
BUSINESS
July 28, 1989 | PAUL RICHTER, Times Staff Writer
Paramount Communications, taking the last step to becoming a pure media and entertainment concern, said Thursday that it has agreed to sell its big finance arm to Ford Motor Co. for $3.35 billion. The sale of Associates Corp., the nation's third-largest independent finance company, will bring Paramount net proceeds of $2.7 billion and an after-tax profit of $1.3 billion, Paramount said.
BUSINESS
November 1, 1989 | From Reuters
Paramount Communications Inc. said it has finished its restructuring, which began in 1983, by completing its previously announced sale of a finance unit Tuesday to Ford Motor Co. for $3.35 billion. The Dallas-based unit, Associates Corp. of North America, is the nation's third-largest finance company when measured by total assets. The unit provides a broad range of consumer finance, specialized commercial finance and leasing and related insurance products.
BUSINESS
November 21, 1995
Pacific Gulf Properties Inc. said Monday it has completed the sale of its four Texas properties to Capitol Investment Associates Corp. of Chevy Chase, Md., for $31.1 million. Pacific Gulf, a real estate investment trust, said the purchase price includes $30.1 million in cash and a $1-million note. The company plans to use proceeds to acquire two new properties in the Pacific Northwest.
BUSINESS
September 29, 1989 | JAMES BATES, Times Staff Writer
First Interstate Bancorp, continuing its restructuring program, said Thursday that it is selling a nearly $500-million credit-card portfolio to Associates Corp. of North America, a Dallas-based commercial and consumer finance company. Separately, Wells Fargo Bank agreed Thursday to buy the $280-million credit-card portfolio held by Imperial Corp. of America, parent of Imperial Savings in San Diego.
BUSINESS
September 14, 1993 | CHRIS KRAUL, TIMES STAFF WRITER
Great Western Bank said Monday that it will sell its credit card operation to a unit of Ford Motor Co., a deal that will result in the layoff of 80 Great Western employees at the company's headquarters in Chatsworth. Great Western said it is selling the operation because it was not large enough to be sufficiently profitable. The thrift is selling 178,000 Visa accounts with a combined outstanding balance of $222 million--an average of about $1,247 per account.
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