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BUSINESS
June 11, 1985 | BILL RITTER, San Diego County Business Editor
Based on assemblies in recent years, Oak Industries officials had expected a raucous shareholders gathering Monday. Instead, the 41st annual meeting of the financially troubled media concern was a relatively tame affair.
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BUSINESS
June 15, 1989 | GREG JOHNSON, Times Staff Writer
Oak Industries director Roderick M. Hills on Wednesday wrested control of San Diego-based Oak from Chairman E. L. McNeely, after an official tally showed that Hills' slate won an overwhelming victory at the company's June 6 annual meeting. Hills' five-member slate won 77% of the 53.5 million votes cast during the emotionally charged annual meeting, while McNeely's slate drew just 23%, according to Oak General Counsel Jim Miller. In addition, three representatives of MIM Ltd., a British firm that owns 25% of Oak's shares, also were elected to the board by overwhelming margins.
BUSINESS
April 24, 1986 | GREG JOHNSON
A lackluster response to Oak Industries' proposed debt-for-stock swap on Wednesday appeared to once again have stalled the sale of Oak's materials division to Allied-Signal. Although the Rancho Bernardo-based company took a step toward profitability on Wednesday when shareholders overwhelmingly approved the materials division sale, later in the day Oak appeared ready to extend for the fourth time a debt-for-stock swap offering that was initiated in February.
BUSINESS
December 3, 1986 | GREG JOHNSON, Times Staff Writer
Oak Industries, awash in debt and near bankruptcy last year, began a comeback bid Tuesday by agreeing to acquire the Quartz Crystal Components Group of New York-based Electronic Technologies for an undisclosed amount. When the deal is completed, San Diego-based Oak will acquire three Electronic Technologies businesses that last year reported revenues of $18.7 million.
BUSINESS
April 19, 1989 | GREG JOHNSON, Times Staff Writer
A group that includes former Securities and Exchange Commission Chairman Roderick M. Hills, former U. S. Atty. General Elliot L. Richardson and San Diego Economic Development Corp. Chairman George W. Leisz has begun a proxy fight aimed at unseating five of San Diego-based Oak Industries' eight board members. The dissident group, which calls itself the Committee to Improve Shareholder Value of Oak Industries Inc., will sponsor a board slate that would be "independent" of current Oak Chairman E. L. McNeely, according to a prepared release issued Tuesday by Hills.
BUSINESS
June 12, 1989
Ever wondered what happens when an absent-minded restaurant patron leaves behind a credit card? At Tribeca, a hot new eatery in Beverly Hills, customers get a week's grace to come in to pick up the card--then the staff cuts it into bite-size pieces and throws it away. "There are so many people who leave credit cards here," said a Tribeca employee in response to a question about why she hadn't tried to track down one diner whose card was with a big local bank. "I'd spend hours (trying to find people)
BUSINESS
June 15, 1989 | GREG JOHNSON, Times Staff Writer
Oak Industries director Roderick M. Hills on Wednesday wrested control of San Diego-based Oak from Chairman E.L. McNeely, after an official tally showed that Hills' slate won an overwhelming victory at the company's June 6 annual meeting. Hills' five-member slate won 77% of the 53.5 million votes cast during the emotionally charged annual meeting, while McNeely's slate drew just 23%, according to Oak General Counsel Jim Miller. In addition, three representatives of MIM Ltd., a British firm that owns 25% of Oak's shares, also were elected to the board by overwhelming margins.
BUSINESS
October 27, 1987 | GREG JOHNSON and CHRIS KRAUL, Times Staff Writers
Buie Corp., a San Diego-based residential and commercial developer, has agreed to buy Oak Industries' lavish headquarters building in Rancho Bernardo for an undisclosed sum, the companies said Monday. Sources close to the deal say Buie will pay "in the vicinity of $9 million" for the 78,000-square-foot, Spanish Colonial-style building. Escrow is expected to close February.
BUSINESS
November 6, 1987 | GREG JOHNSON, Times Staff Writer
Former Oak Industries Chairman Everitt A. Carter filed false tax returns for 1981 and 1982 that understated his income by nearly $157,000, according to a federal grand jury indictment unsealed Thursday in U.S. District Court. Carter, who served briefly as chairman of the San Diego Crime Commission shortly after its formation in 1984, surrendered Thursday morning to U.S. Magistrate Barry Ted Moskowitz.
BUSINESS
June 26, 1985 | BILL RITTER, San Diego County Business Editor
Oak Industries defrauded shareholders by lying in its public financial disclosures, and Oak's former chairman improperly received corporate funds for personal uses such as condominiums, a car and a racehorse, according to a civil complaint filed in federal court here Tuesday by the Securities and Exchange Commission. The filing caps a 17-month SEC investigation into improper financial reporting and conflicts of interest involving senior Oak management.
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