E F Hutton Life Insurance Co

Orange County Man Pleads Guilty: An Orange County man pleaded guilty to charges stemming from a scheme to defraud financial institutions across the country of millions of dollars by persuading them to finance real estate developments in Arizona and California. John M. Couglan Sr., 75, the last of three defendants to plead guilty, conducted the scheme in 1986 through two companies, Eagle Bonds and Insurance Brokers Inc. and California Pacific Construction Co. E. F. Hutton Life Insurance Co.

The ground shook the day after Robert Weingarten, then chairman of First Capital Holdings Corp., told a small group of insurance agents that E. F. Hutton Life Insurance would be renamed First Capital to reflect its newfound ownership by the fast-growing Century City firm. Now, four years later, some agents regret that they didn't recognize the Whittier earthquake as an omen.

The ground shook the day after Robert Weingarten, then chairman of First Capital Holdings Corp., told a small group of insurance agents that E. F. Hutton Life Insurance would be renamed First Capital to reflect its newfound ownership by the fast-growing Century City firm. Now, four years later, some agents regret that they didn't recognize the Whittier earthquake as an omen.

Orange County Man Pleads Guilty: An Orange County man pleaded guilty to charges stemming from a scheme to defraud financial institutions across the country of millions of dollars by persuading them to finance real estate developments in Arizona and California. John M. Couglan Sr., 75, the last of three defendants to plead guilty, conducted the scheme in 1986 through two companies, Eagle Bonds and Insurance Brokers Inc. and California Pacific Construction Co. E. F. Hutton Life Insurance Co.

A land purchase-leaseback and leasehold mortgage loan of $9.5 million has been arranged for six three-story, 21,000-square-foot office buildings to be built at 3615 Ruffin Road in the Kearny Mesa area of San Diego. The financing was arranged with E. F. Hutton Life Insurance Co. by John Burnham & Co. of San Diego for Norwich-Van Raaphorst Properties, the developer. Construction is scheduled to begin in mid-March.

Under the definitive agreement, First Capital Holdings, a Los Angeles-based financial services company, will pay $300 million in cash for the insurance group, which includes E. F. Hutton Life Insurance Co. in La Jolla and Great Britain's World-Wide Reassurance. The two signed a letter of intent last month to enter into the transaction which, pending regulatory approval, is to be completed this spring. E. F.

E. F. Hutton Group said Friday that it intends to sell its insurance group for $300 million in cash to First Capital Holdings Corp., a financial services concern based in Los Angeles. But the company said that while the sale could boost its 1987 results, it expects to post "a substantial loss" for 1986 because it established a special reserve of about $130 million in the fourth quarter for reasons unrelated to the insurance unit sale. Hutton said it had signed a letter of intent to sell its E.

Diversified Equity Investments Inc. has relocated its corporate and partnership offices in San Diego from 835 5th Ave. to the Miramar Galleria at 7128 Miramar Road. Miramar Galleria is a 35,000-square-foot retail-and-office center completed by Diversified Equity Investments.

All of the more than 250,000 people who had policies with the failed First Capital Life Insurance Co. were guaranteed their money back--eventually--when the company was re-christened Pacific Corinthian Life Insurance Co. on Monday. Under a state-approved rehabilitation plan, Pacific Corinthian customers will be able to collect 100% of the face value of their policies after five years, plus at least 4% annual interest, California Insurance Commissioner John Garamendi said.

Facing a Monday deadline, insurance officials and regulators were scrambling Friday to muster financial, legal and operating support for a $1-billion industry bid for Executive Life Insurance Co. of California. Officials at the National Organization of Life and Health Guaranty Assns., the industry group making the bid, were meeting with attorneys and industry executives in a last-ditch effort to resolve unsettled issues that could scuttle the group's ability to buy Executive Life.

Go ahead. Just try to buy something from Occidental Petroleum. Oxy--No. 2 on The Times' list of California's biggest companies in terms of sales--sells hardly anything a California consumer can buy. If you want the oil that Occidental Petroleum pumps out of the ground, try a Chevron station--Oxy's oil helps Chevron maintain its perpetual No. 1 sales ranking. If you want the plastics that its Occidental Chemical subsidiary processes, buy Samsonite luggage--Oxy makes the vinyl film that coats the bags.