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Fred W Wasserman

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BUSINESS
August 12, 1988 | NANCY RIVERA BROOKS, Times Staff Writer
An Orange County investor has sued ailing Maxicare Health Plans, charging that the company, its officers, directors and advisers misrepresented the company's financial condition to artificially inflate the value of Maxicare's stock and notes. The lawsuit, which was filed July 15 by Maxicare shareholder Gerald D.
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BUSINESS
August 12, 1988 | NANCY RIVERA BROOKS, Times Staff Writer
An Orange County investor has sued ailing Maxicare Health Plans, charging that the company, its officers, directors and advisers misrepresented the company's financial condition to artificially inflate the value of Maxicare's stock and notes. The lawsuit, which was filed July 15 by Maxicare shareholder Gerald D.
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BUSINESS
August 9, 1988 | NANCY RIVERA BROOKS, Times Staff Writer
Ailing Maxicare Health Plans said Monday that Chairman and Chief Executive Fred W. Wasserman and President Pamela K. Anderson have been replaced by outside director Peter J. Ratican as the company faces a loss of roughly $50 million for the second quarter. The terse announcement raised speculation that the company's lenders had forced the management shake-up and could push the nation's largest publicly held health maintenance organization into bankruptcy court.
BUSINESS
August 9, 1988 | NANCY RIVERA BROOKS, Times Staff Writer
Ailing Maxicare Health Plans said Monday that Chairman and Chief Executive Fred W. Wasserman and President Pamela K. Anderson have been replaced by outside director Peter J. Ratican as the company faces a loss of roughly $50 million for the second quarter. The terse announcement raised speculation that the company's lenders had forced the management shake-up and could push the nation's largest publicly held health maintenance organization into bankruptcy court.
BUSINESS
June 18, 1988 | LINDA WILLIAMS, Times Staff Writer
Standard & Poor's Corp. on Friday downgraded some of the debt of Maxicare Health Plans Inc., saying the Los Angeles-based health maintenance organization's "prospects for a return to profitability are dubious." In a strongly worded statement, the bond rating agency said it lowered its ratings to the "low speculative grade" of CCC from B- on $245 million of Maxicare's subordinated debt and $45 million of its Healthcare USA Inc. unit's subordinated debentures.
BUSINESS
March 27, 1988 | NANCY RIVERA BROOKS, Times Staff Writer
Not too long ago, Fred W. Wasserman could be counted on to cultivate gorgeous roses at his Beverly Hills home and generous profits at his Los Angeles company, Maxicare Health Plans. The roses are still blooming at the Art Deco home that Wasserman shares with his wife, Maxicare President Pamela K. Anderson. As for the profits--Maxicare hasn't seen any of those for the past five quarters. In fact, Maxicare reported a $60.
BUSINESS
March 27, 1988
It's good to see that the "little old lady from Pasadena" is alive and well ("They're Going 60 at 90--but Safely," by Dave Larsen, March 13). Hazel Gutwein, a 94-year-old from Pasadena, may have to use a cane to walk, but behind the wheel her engine roars (or at least purrs), and she's able to keep up with the flow of traffic.
BUSINESS
May 15, 1987
The health maintenance organization said it expects the loss to be between 35 cents and 45 cents a share. The loss is a result primarily of increased interest and amortization expenses and an operating deficit from HMOs acquired from HealthAmerica, said Fred W. Wasserman, chairman and chief executive. Maxicare is scheduled to report first-quarter results on May 19. Maxicare, the nation's largest publicly held health maintenance organization, serves more than 2.3 million members in 26 states.
BUSINESS
March 27, 1985 | JUBE SHIVER Jr.
Hawthorne-based Maxicare Health Plans Inc., the nation's largest investor-owned health maintenance organization, said its president and chief executive, Fred W. Wasserman, has been elected to the additional post of chairman. Wasserman, 49, replaces James A. McIntyre, who is president and chief executive of Los Angeles-based Fremont General Corp.
BUSINESS
March 18, 1989 | MELANIE PICKETT
1980--Maxicare, founded in 1973, becomes a for-profit company, expanding over the next several years into 26 states and serving more than 2 million members. 1985--The health care industry enters a period of soaring costs. Conventional health insurers cut rates to compete with health maintenance organizations, while HMOs add costly new plans to increase membership. July, 1986--Maxicare buys two financially troubled HMOs, paying $400 million for HealthAmerica Corp.
BUSINESS
June 18, 1988 | LINDA WILLIAMS, Times Staff Writer
Standard & Poor's Corp. on Friday downgraded some of the debt of Maxicare Health Plans Inc., saying the Los Angeles-based health maintenance organization's "prospects for a return to profitability are dubious." In a strongly worded statement, the bond rating agency said it lowered its ratings to the "low speculative grade" of CCC from B- on $245 million of Maxicare's subordinated debt and $45 million of its Healthcare USA Inc. unit's subordinated debentures.
BUSINESS
March 27, 1988
It's good to see that the "little old lady from Pasadena" is alive and well ("They're Going 60 at 90--but Safely," by Dave Larsen, March 13). Hazel Gutwein, a 94-year-old from Pasadena, may have to use a cane to walk, but behind the wheel her engine roars (or at least purrs), and she's able to keep up with the flow of traffic.
BUSINESS
March 27, 1988 | NANCY RIVERA BROOKS, Times Staff Writer
Not too long ago, Fred W. Wasserman could be counted on to cultivate gorgeous roses at his Beverly Hills home and generous profits at his Los Angeles company, Maxicare Health Plans. The roses are still blooming at the Art Deco home that Wasserman shares with his wife, Maxicare President Pamela K. Anderson. As for the profits--Maxicare hasn't seen any of those for the past five quarters. In fact, Maxicare reported a $60.
BUSINESS
December 3, 1987 | BRUCE KEPPEL, Times Staff Writer
In a further cost-cutting move, Maxicare Health Plans laid off 26 of its 7,700 employees, including one of two medical directors at company headquarters near Los Angeles International Airport, a spokesman confirmed Wednesday. The layoffs, announced in a notice dated Nov. 27, took effect Dec. 1. Eight were in Los Angeles, said spokesman Tobi Nyberg.
BUSINESS
July 30, 1985
AMF Inc., which was recently acquired by a company controlled by financier Irwin L. Jacobs, said Monday that W. Thomas York and William P. Sovey resigned as chairman and president, respectively. AMF said Kenneth J. Severinson has been named chairman and chief executive of the company, which was acquired earlier this month by Minneapolis-based Minstar Inc. in a cash and debt deal valued at about $300 million. Severinson is also chairman of Glendale-based Bekins Co.
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