Advertisement
YOU ARE HERE: LAT HomeCollectionsAvco Financial Services Inc
IN THE NEWS

Avco Financial Services Inc

FEATURED ARTICLES
BUSINESS
June 10, 1994
Avco Financial Services Inc.: The Irvine subsidiary of Textron Inc. reported that its first-quarter profit gained 12% to $38.8 million from $34.5 million for the same period a year earlier. Revenue was up slightly to $327.6 million from $327.1 million.
ARTICLES BY DATE
BUSINESS
January 8, 1999 | LESLIE EARNEST, TIMES STAFF WRITER
Consumer finance giant Avco Financial Services, which has been acquired by a Texas-based rival, will close its headquarters in Costa Mesa, eliminating most of the 200 jobs there as part of a major consolidation, its new parent said Thursday. The move by Dallas-based Associates First Capital Corp. will deal Orange County a double blow, eliminating jobs and a high-profile corporation whose presence for three decades has helped business recruiters attract other companies to the county.
Advertisement
REAL ESTATE
July 20, 1986
Avco Financial Services Inc. has completed the relocation of its worldwide corporate headquarters from Newport Beach to the 105-acre Trammell Crow Co.'s Fluor Complex located at the intersection of Jamboree Boulevard and Michelson Drive, Irvine.
BUSINESS
January 8, 1999 | LESLIE EARNEST, TIMES STAFF WRITER
Consumer finance giant Avco Financial Services, which has been acquired by a Texas-based rival, will close its headquarters in Costa Mesa, eliminating most of the 200 jobs there as part of a major consolidation, its new parent said Thursday. The move by Dallas-based Associates First Capital Corp. will deal Orange County a double blow, eliminating jobs and a high-profile corporation whose presence for nearly three decades has helped business recruiters attract other companies to the county.
BUSINESS
March 13, 1991 | James S. Granelli/Times staff writer
Bond Offering: To fund its financing needs in five countries, Avco Financial Services Inc. in Irvine has registered with the Securities and Exchange Commission to float up to $900 million in bonds over the next 18 months to two years. The amount is the highest ever sought by the financial services company, exceeding an $800-million offering in December, 1985. Avco makes primarily consumer loans to individuals in the United States, Canada, Australia, New Zealand and the United Kingdom
BUSINESS
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.
BUSINESS
December 30, 1994 | John O'Dell, Times staff writer
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.
BUSINESS
September 24, 1992
To fund its lending activities in five countries and to pay off debts coming due, Avco Financial Services Inc. said Wednesday that it is seeking federal approval to sell up to $1 billion of debt securities over the next 18 months to two years. The amount of the so-called shelf registration is the highest ever sought by the Irvine company, exceeding its request for $900 million in bonds that it sought in March, 1991.
BUSINESS
November 11, 1994 | ROSS KERBER, TIMES STAFF WRITER
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.
BUSINESS
August 13, 1998 | JOHN O'DELL, TIMES STAFF WRITER
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.
BUSINESS
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.
BUSINESS
August 30, 1997 | From Bloomberg News
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.
BUSINESS
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.
BUSINESS
December 30, 1994 | John O'Dell, Times staff writer
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.
BUSINESS
November 11, 1994 | ROSS KERBER, TIMES STAFF WRITER
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.
CALIFORNIA | LOCAL
March 17, 1992 | THUAN LE
City officials have been unable to budget money to replace a police dog that died last year, but a local company is coming to the rescue. AVCO Financial Services of Irvine will donate $8,000 to buy, train and house a new canine for the force, said Jim Straw, vice president of community affairs. Company executives will present Police Chief Charles Brobeck with a check today.
BUSINESS
January 8, 1999 | LESLIE EARNEST, TIMES STAFF WRITER
Consumer finance giant Avco Financial Services, which has been acquired by a Texas-based rival, will close its headquarters in Costa Mesa, eliminating most of the 200 jobs there as part of a major consolidation, its new parent said Thursday. The move by Dallas-based Associates First Capital Corp. will deal Orange County a double blow, eliminating jobs and a high-profile corporation whose presence for three decades has helped business recruiters attract other companies to the county.
BUSINESS
June 10, 1994
Avco Financial Services Inc.: The Irvine subsidiary of Textron Inc. reported that its first-quarter profit gained 12% to $38.8 million from $34.5 million for the same period a year earlier. Revenue was up slightly to $327.6 million from $327.1 million.
BUSINESS
September 24, 1992
To fund its lending activities in five countries and to pay off debts coming due, Avco Financial Services Inc. said Wednesday that it is seeking federal approval to sell up to $1 billion of debt securities over the next 18 months to two years. The amount of the so-called shelf registration is the highest ever sought by the Irvine company, exceeding its request for $900 million in bonds that it sought in March, 1991.
Los Angeles Times Articles
|