December 31, 1989
Banks and S&Ls Financial deregulation in the '80s brought with it risky lending, insider abuse, mismanagement and fraud. Hundreds of financial institutions failed nationwide, including two dozen in Orange County. None was bigger than Charles F. Keating's Irvine-based Lincoln S&L,. The failure could cost taxpayers $2 billion. Housing Prices While the building industry entered the '80s in a slump, it quickly picked up steam as the recession in the early part of the decade subsided.
January 14, 1990 |
Shortly after the U.S. 1986 military strike against Libya, C. E. Grubbs, a manager at Ford Aerospace in Newport Beach, read a newspaper article about the key role that his company's sophisticated bomb-targeting system had played in the raid. He called a friend at Ford Aerospace headquarters in Detroit to talk about the exciting news.
August 25, 2001 |
Boeing Co. has improved its management of the U.S. ground-based missile-defense system, the Pentagon's program manager says. The progress was evident in the successful intercept July 14 that earned Boeing $36 million of the potential $41-million bonus for the test, said Army Maj. Gen. Willie Nance. "I'm very pleased," Nance said in an interview. "In the last year they have made significant strides in performance. They have brought new team members on.
February 24, 1998
Raytheon Co.'s Raytheon Systems unit said Monday it has been awarded a $13.8-million contract to install 91 surface search radar systems on Coast Guard cutters. The contract also has options for additional radars and components for vessel traffic services systems. The Coast Guard contract was awarded after an evaluation period, Raytheon said. The work will be performed at Raytheon's naval facility in Fullerton and at Kuchera Defense Systems, a Raytheon subcontractor in Johnstown, Pa.
October 13, 1994 |
Unless the private sector and local governments come up with joint solutions, Orange County cities such as Fullerton that are targeted for defense cutbacks will face lingering real estate woes, according to a new study from Kenneth Leventhal & Co., the Los Angeles accounting firm. Fullerton is home of a 350-acre facility for Hughes Aircraft Co., which last month announced the largest plant closure in Orange County history.
April 19, 1992 |
Even though an overwhelming majority of Orange County residents think that cuts in defense spending will worsen the recession in Southern California, nearly a third say that the $50 billion in cutbacks proposed by the Bush Administration are not severe enough, according to a new Times Orange County Poll. An additional 45% say that the planned cuts, painful though they may be, are "about right" while only 15% think the proposed reductions too severe.
December 11, 1992 |
Likening Orange County's economy to an ailing patient fighting off the flu, Chapman University economists said Thursday that the county is recovering from the recession--but at a much slower pace than the rest of the nation. Reiterating earlier predictions that Orange County is a year behind the rest of the nation in shaking off its malaise, Chapman President James Doti said few jobs will be created in the coming year and that real estate values and family incomes will continue to decline.
October 8, 1992
Only Los Angeles and Santa Clara counties received more defense-related work than Orange County in 1991. However, the value of those contracts was down 10% from 1989's total. Among Orange County cities, Fullerton was the largest beneficiary of the 1991 pacts. Its billion dollars worth of contracts were more than double those of No. 2 Anaheim. Where the Work Went The largest share of defense awards to Orange County contractors in 1991 landed in two North County cities: Fullerton and Anaheim.
January 28, 1993 |
Rockwell International Corp. plans to launch a $2-million advertising campaign to let the business world know that it isn't just a defense company anymore. Richard R. Mau, senior vice president at the corporation's Seal Beach headquarters, said the company is starting the image campaign to showcase its diversified technology businesses, which include newspaper printing and computer chip manufacturing; its market leadership in various industries; and quality management.
June 30, 1990 |
Dense-Pac Microsystems Inc. said Friday that its revenue for the current fiscal year will be substantially below earlier company estimates due to sluggish commercial sales and uncertainty in the defense industry. Bill Stowell, chief financial officer, said Dense-Pac now expects revenue for the current fiscal year, which ends in February, 1991, to be 20% to 30% below the previously estimated $10 million.