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BUSINESS
August 31, 1985 | KATHLEEN DAY, Times Staff Writer
Bernard B. Katz, a controversial Beverly Hills financier, was elected Friday as chairman of Compucorp, a Santa Monica maker of office automation systems whose stock he controls and from whose board he recently resigned. "I'm in as chairman of the board," Katz said Friday. "But I won't be active in the company's day-to-day operations." He would not comment on how long he will remain at the company, which in its second quarter earned $190,000, compared to a loss of $3.
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BUSINESS
September 23, 1987 | JAMES S. GRANELLI, Times Staff Writer
Bernard B. Katz, the Los Angeles financier who built two fast-growing high-tech companies that subsequently flopped, has sued Bank of America and Downey Savings & Loan Assn. in Costa Mesa for $315 million, alleging breach of contract in their liquidation of a third company in which Katz owns a 45% interest. The financial institutions are trying to recover $15 million in loans made to Helionetics of Irvine, a once-soaring laser firm that Katz bankrolled.
BUSINESS
November 29, 1990 | DEAN TAKAHASHI, TIMES STAFF WRITER
Helionetics Inc., the computer and military products company, has shut down an Anaheim subsidiary that was suspended from doing business with the federal government earlier this year, according to a company filing with the Securities and Exchange Commission.
BUSINESS
August 5, 1986 | CARLA LAZZARESCHI, Times Staff Writer
Just four days after filing for bankruptcy protection, Helionetics Inc. on Monday fired its president for his role in the ailing defense contractor's financial crisis. "We just didn't think he was up to the job," H. Alfred Sklar, a Berkeley businessman and Helionetics board member, said of Michael Mann, the defense contractor's president and chief executive for the last 19 months. "We didn't feel all the steps were taken to avoid the Chapter 11 bankruptcy filing last Thursday."
CALIFORNIA | LOCAL
January 2, 2005 | Jon Thurber, Times Staff Writer
Julius Axelrod, the scientist who shared the Nobel Prize in medicine in 1970 for his work in explaining how brain cells communicate with one another, has died. He was 92. Axelrod died in his sleep Wednesday at his home in Rockville, Md., according to the National Institute of Mental Health, where Axelrod worked for much of his life. The cause of death was not reported. He had experienced heart trouble in recent years.
BUSINESS
January 4, 1985 | KATHLEEN DAY, Times Staff Writer
Former Treasury Secretary William E. Simon said Thursday that he has left the board of Helionetics Inc. It was the second resignation of a key director of the Santa Ana high-technology company in two weeks. In a statement, Simon said he resigned "for personal reasons." Simon's secretary said he was in the Caribbean and could not be reached for comment. A spokesman for Helionetics said that Simon's resignation had been expected but that its timing came as "a surprise."
BUSINESS
February 13, 1990 | JONATHAN WEBER, TIMES STAFF WRITER
Helionetics Inc. announced Monday that it had signed a letter of intent to acquire Definicon International Corp. of Newbury Park for about $12.5 million in stock. Charles W. Jobbins, Helionetics chairman and chief executive, said the merged companies will be called Helionetics International, and Vincent P. Williams, currently chief executive of Definicon, will be the new company's president and chief executive.
BUSINESS
April 17, 1986 | CARLA LAZZARESCHI, Times Staff Writer
Less than two weeks after receiving a default notice from one of its principal lenders, Helionetics Inc. reported a $22.4-million loss for 1985, the largest ever in the rocky history of the small Irvine defense contractor. As a result of the loss and the earlier debt default notice, the company's auditors issued a qualified report on Helionetics' financial health, pointing out that the company "may be unable to continue in existence."
BUSINESS
November 29, 1990 | DEAN TAKAHASHI, TIMES STAFF WRITER
Helionetics Inc., the computer and military products company, has shut down an Anaheim subsidiary that was suspended from doing business with the federal government earlier this year, according to a company filing with the Securities and Exchange Commission.
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