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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.
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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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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.
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
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
December 10, 1985
Gulf & Western Industries said Monday that its net earnings rose 25% in its fiscal first quarter on a 19% gain in revenue. The company said its results in the three-month period ended Oct. 31 were "paced by strong results from financial services and publishing and a steady performance in entertainment." The company said it had net earnings of $70.7 million in the quarter, up from $57.2 million in the same period a year earlier. Revenue was $809.3 million, up from $680.5 million a year earlier.
BUSINESS
November 16, 1990 | United Press International
Associates Corp. of North America has acquired Transamerica Fleet Leasing Corp. from Transamerica Commercial Finance Corp. for an undisclosed sum. Associates, a unit of Ford Motor Co., assumes lease and management responsibilities for about 9,300 autos and light trucks previously owned or managed by Transamerica Commercial. Associates now has more than 66,000 autos and light trucks under lease and management nationwide.
BUSINESS
September 4, 1986 | Associated Press
Gulf & Western, the financial services, entertainment, publishing and information conglomerate, said Wednesday that its earnings increased by 6% in the third quarter of its fiscal year. The company said it earned $82.1 million on revenue of $1 billion during the three-month period ended July 31. This compared to a profit of $77.3 million on $829.2 million in revenue in its 1985 third quarter. For the nine months, Gulf & Western said its earnings were up 8.5% to $162 million on revenue of $2.
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
January 13, 1995 | James S. Granelli, Times staff writer
Moving Out for Now: Michigan National Corp. may have scuttled its plan to build up its Orange County thrift, but it hasn't given up on the savings and loan industry. The bank holding company, based in a Detroit suburb, has been selling the business units of its Mission Viejo thrift, Independence One Bank of California. But it will keep the S&L charter and probably move it to its Farmington Hills headquarters, where it may open a new thrift.
BUSINESS
January 7, 1987
Gulf & Western Inc., said Tuesday that its earnings rose 49% in the fourth quarter of its fiscal year, largely because of a real estate transaction. The publishing, entertainment and financial services company also reported that its annual income increased by 8% in the year that ended Oct. 31. Gulf & Western said its net earnings for the quarter ended Oct. 31 jumped to $105.4 million from $70.7 million in the fourth quarter of fiscal 1985. The earnings in the latest quarter included a $38.
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