October 6, 1992 |
The fortunes of Los Angeles financier Charles W. Knapp--once head of the country's biggest savings and loan--have taken a sharp turn for the worse. Citing heavy legal obligations and credit card bills, Knapp and his wife, movie actress Lois Hamilton, filed a Chapter 11 bankruptcy petition in Los Angeles last month to allow them breathing room to reorganize their deteriorating finances.
September 15, 1990 |
The government's 11th-hour sales of troubled savings and loan associations to private investors in 1988 were "giveaways," House Banking Committee Chairman Henry B. Gonzalez (D-Tex.) said Friday. The deals during 1988, including the sale of Stockton-based American Savings & Loan to a group led by Texas billionaire Robert M.
June 9, 1990 |
The troubled world of maverick money man Charles W. Knapp appears to be wilting around him. Knapp has thrown in the towel on Trafalgar Holdings, the private Los Angeles-based financial-services firm that he founded in late 1984 to start life anew following his tumultuous tenure and ouster as head of the former parent of American Savings & Loan. Once the nation's largest thrift, American's failure in 1988 led to one of the biggest federal thrift bailouts ever.
January 4, 1990 |
Controversial Los Angeles financier Charles W. Knapp, under siege because of business difficulties, has sued his ex-wife, aviator N. Brooke Knapp, seeking to cancel an expensive divorce settlement that was costing him as much as $40,000 a month. Knapp claimed that he agreed to the divorce settlement in 1986 only because he was "suffering from a severe personality disorder and depression" that left him "exceedingly self-destructive," according to his lawsuit.
January 1, 1990 |
California's image as a pacesetter held up fairly well in the 1980s in the world of business and economics. Californians were a force for dramatic change. Some achieved change on a grand scale--inspiring a revolution in economic policy or transforming corporate finance. Some of the change may seem minor, but it altered our daily routines and our life styles.
August 28, 1989 |
Charles W. Knapp--the controversial Los Angeles financier who once headed Financial Corp. of America, the nation's largest savings and loan--had big plans in mind when he formed Trafalgar Mortgage a couple of years ago. Under the leadership of Lawrence Taggart, a former top California banking regulator, Trafalgar Mortgage was supposed to become a nationwide mortgage lender within three years through the acquisition of up to 200 small companies.
May 13, 1989
Takami Takahashi, chairman and chief executive of Minebea Co. Ltd., a major Japanese manufacturing company that under his reign fought off a rare takeover attempt by U.S. investors in 1986, has died of acute pneumonia at his Tokyo home. He was 60. His death Wednesday was announced by NMB (USA) Inc. in Chatsworth, where Minebea's North American operations are headquartered. NMB employs about 3,200 people in the United States, including 540 in Chatsworth. Takahashi had led Minebea since 1958.
April 11, 1989 |
Charles W. Knapp, former head of Financial Corp. of America, will get to keep his controversial $2-million severance payment under a proposed settlement to end litigation against the now-bankrupt savings and loan holding company. Knapp received the severance pay after federal thrift regulators ousted him as FCA chairman and chief executive in 1984 in the midst of a deposit run. He received the payment from FCA's board in return for his agreement to resign, but FCA later sued to recover the money on the grounds that it was grossly excessive.