November 4, 1987
Robert K. Swanson, 55, has resigned as chairman, chief executive and director of Del E. Webb Corp. for health reasons. Swanson's resignation was effective immediately. He had been the Phoenix-based company's chief executive since 1981. The Webb Corp.'s board of directors named Philip J. Dion, 42, Webb Corp. president and chief operating officer, as acting chief executive. Dion is also chairman of Nevada Casinos Hotels Inc.
May 4, 1986
Escrow has closed and financing has been completed for the largest planned community in Phoenix history, the 4,140-acre Foothills, conservatively valued at $1 billion when completed. The project is a joint venture between Del E. Webb Commercial Properties Corp., a wholly owned subsidiary of Del E. Webb Corp., and the Adams Group Inc., a wholly owned subsidiary of Burns International.
August 23, 1987
Del E. Webb Corp. plans to build a $500-million, 3,100-unit Sun City retirement community in Las Vegas that will house about 5,600 people over the age of 45 when completed in the mid-1990s. Construction at the site, about eight miles northwest of downtown Las Vegas, will begin by the end of this year. The first homes are expected to go on sale in November, 1988, with prices ranging from $70,000 to $150,000.
June 4, 1987 |
In a bid to expand its real estate consulting practice, KPMG Peat Marwick has acquired La Jolla-based Goodkin Group, a pioneering real estate market research firm. Terms of the acquisition were not announced. Peat Marwick, the largest of the Big 8 international accounting firms with 250 offices worldwide, said the acquisition was designed to broaden the real estate services the firm already offers, particularly to residential developers and to those seeking demographic trend information.
April 1, 1985 |
After more than two years of litigation, 28 private insurance carriers have agreed to reimburse the MGM Grand $76 million for claims it paid to victims of a November, 1980, fire, the Las Vegas hotel announced Sunday. The settlement brings to an end a complex series of lawsuits growing out of the fire in which 85 people were killed and 591 were injured. The fire was blamed on an electrical short in a hotel restaurant.
March 21, 1985 |
The Newporter, the granddaddy of Orange County's fast-rising luxury hotel market, has changed hands for the fifth time in its 23-year history. Its new owners--Westgroup Hotels Inc. and Columbia Savings--paid an estimated $30 million for the landmark Newport Beach hotel, which is troubled by declining occupancy rates and a promise of stiffer competition in its market.
March 18, 1985 |
The lawsuit's principal protagonists describe the case as "simple," "straightforward," and even "frivolous." And yet the case involves so many lawyers--49 of them--that a special courtroom has been built in an 11,000-square-foot room next to the arena where the University of Nevada at Las Vegas plays basketball. There are 8 million documents.