August 13, 1998 |
It's too soon to tell officially, but the world headquarters of Avco Financial Services in Costa Mesa is probably headed for a shake-up in the aftermath of its acquisition by rival consumer finance giant Associates First Capital Corp. A merger of the two companies' headquarters into Associates' offices in Texas is not out of the question.
August 12, 1998
* Associates First Capital Corp., the largest independent consumer lender in the U.S., agreed to buy Textron Inc.'s Avco Financial Services unit for $3.9 billion in cash. * * Delta Air Lines Inc. backed away from a 4% increase in leisure fares, the last carrier to buckle as an attempt by U.S. airlines to raise prices failed.
August 30, 1997 |
General Electric Co.'s GE Capital unit may have illegally collected credit card debts from more than 17,000 customers who filed for personal bankruptcy, and has made some refunds. GE's finance arm said it's investigating whether it failed to file the proper court documents after persuading bankrupt credit card customers to pay debts that they could have had wiped clean. GE Capital joins a raft of companies accused of exploiting consumers who might not know their legal rights.
January 25, 1995
Avco Financial Services Inc. said Tuesday it has purchased Household Financial Co. of Australia Ltd. The acquisition is a subsidiary of Household International Inc., a financial services company based in Prospect Heights, Ill. Terms of the sale were not disclosed. Richard Thomas, Avco senior vice president, will head House Finance Co. of Australia. Thomas was formerly managing director of Avco's Australia division before returning to the United States three years ago.
December 30, 1994 |
Headquarters Move: Avco Financial Services Inc. is moving its headquarters from Irvine to Costa Mesa in what real estate specialists say is one of the biggest commercial office deals of the year. The international consumer finance and insurance company is vacating its 209,000-square-foot quarters at Park Place--the old Fluor Corp. complex--and has signed a 10-year lease to occupy 103,000 square feet of space on five floors of the 21-story Plaza Tower building near South Coast Plaza.
November 11, 1994 |
Software Maintenance Specialists said Thursday it has signed a $50-million, 10-year agreement to take over data-processing services for Avco Financial Services Inc. As part of the deal, privately held SMS will hire 34 Avco employees who now enter and analyze computerized information. It will also assume the lease on Avco's data center in Irvine. SMS, based in Santa Ana, also processes data for Allergan Inc., Rockwell International Corp. and other large companies.