May 26, 1991
Bruce Karatz of Kaufman & Broad Home Corp. saw his pay drop from $3 million in 1989 to $1.8 million in 1990--a $1.18 million decline. Second-biggest pay cut will go to Christopher Gibbs, J. M. Peters Co., whose compensation fell from $2.9 million to $1.8 million.
September 21, 2008
I am outraged at the settlement of the backdating suit with former KB Home Chief Executive Bruce Karatz. ("Ex-KB chief settles SEC suit," Sept. 16.) He pays $7 million, agrees not to be an officer or director of a public company for five years and admits no liability. He collected more than $232 million in his last three years with the company. His fine is 3% of that compensation. Now that's a real deterrent for others and quite an attention getter for Karatz. What on earth do you have to do to get charged with fraud?
November 21, 2006 |
Former KB Home Chief Executive Bruce Karatz, who retired last week amid a stock option scandal, has resigned from the boards of directors of Rosemead-based Edison International and its utility, Southern California Edison Co., Edison said Monday. The board resignations were effective Nov. 13 and "did not involve any disagreement" relating to Edison, according to regulatory filings. Honeywell International Inc. said Karatz had resigned from its board Nov. 14.
December 3, 2006
Regarding "Exiting under a cloud, with $175 million," Nov. 20: The enormous compensation package Bruce Karatz is taking with him as he departs KB Home sounds like a bad credit-card commercial: Severance package: $80 million. Special executive pension plan: $25 million. Stock options: $70 million. Leaving the company in the middle of a stock option backdating scandal so you have time to spend your financial windfall: priceless. Unfortunately, this isn't a commercial; it's an example of public company executive pay run amok.
January 11, 1987
The annual UCLA Real Estate Forecast Conference will be held Monday at the Beverly Hilton, from 8 a.m. to 5 p.m. Real estate decision makers and analysts will offer their predictions for the new year, discussing legal implications, markets, opportunities for small investors, joint-venture equities, syndication and finances. Ray Bradbury, science fiction writer, will present the keynote address at a 12:30 p.m. luncheon, according to the conference chairman, Prof. Fred E.
April 10, 2013 |
The Museum of Contemporary Art in Los Angeles announced Wednesday that it has added three people to its board of trustees. Their election comes at a still-vulnerable time for the museum, which has been dealing with financial problems in recent years. Among the new trustees is Bruce Karatz, former chairman and chief executive of KB Home. Eli Broad, who was a founder of the home-building company, is a founding chairman and life trustee of the museum. Karatz's wife, Lilly, is also a MOCA trustee.
CALIFORNIA | LOCAL
September 12, 1989
The article in The Times involving Kaufman & Broad Home Corp. (Part I, Sept. 3) was an unfair and unbalanced job of reporting. As such, it has the potential to leave your readers with an inaccurate understanding of the situation and of Kaufman & Broad in general. Over the past 32 years our company has successfully constructed over 175,000 homes. Your article chose to focus on some 200 of those homes which had some problems, most of them minor. Most of the homes were constructed in the 1970s or earlier.
October 6, 2006 |
Even at $75 million, it doesn't come with a house, pool or anything else, for that matter. But a group of Century City investment bankers are hoping that their 12.4-acre terraced hillside lot in Bel-Air will fetch that amount -- even in a cooling real estate market. The parcel, across from the Hotel Bel-Air and less than a mile north of Sunset Boulevard and UCLA, was assembled over nine years by flamboyant movie producer Steve Bing.
December 20, 1987 |
"May we continue to provide shelter for those in need and continue to build chimneys so we'll all still be able to see Santa Claus on Christmas." That wish is one from a number of friends of this section who have offered some year-ending personal thoughts and wishes that we'll pass along. Most of their suggestions are apt, some in the lighter vein. The one above, from Bruce Froehlich, director of housing for Prestige Homes Inc.
April 11, 2013 |
Bruce Karatz, one of three new members elected this week to the board of L.A.'s Museum of Contemporary Art, said in an interview Wednesday that he's taken an interest in MOCA since the late 1970s, when it didn't even exist. During an art event in the south of France - Karatz was then head of homebuilder KB Home's French division - he listened to his boss and mentor, Eli Broad, discuss the need for a contemporary art museum in Los Angeles with Marcia Simon Weisman, another key figure in MOCA's launch.