January 7, 1989
In an act of desperation and bravery, the Common Market has issued a statement to the American meat-producing industry. By refusing to buy meat that has been perverted with growth hormones, they have taken a major step toward protecting their citizens from needless physical and emotional scarring. If the people in this country knew what goes into meat production in the United States they would also stop buying meat.
August 20, 1988 |
The trustee in control of a troubled group of Glendora car sales and finance companies will ask a bankruptcy judge Monday to force the state Department of Motor Vehicles to restore the dealerships' sales license, allowing them to resume business. Irving Sulmeyer, a veteran bankruptcy expert appointed to head the Grand group of companies, said the DMV's suspension of the dealerships' licenses has prevented the companies from producing any revenue to repay creditors.
August 18, 1988
The El Monte Redevelopment Agency has authorized City Atty. David F. Gondek to begin foreclosure proceedings against Glendora-based Grand Motors Inc. The dealership opened this year on a 5-acre Valley Boulevard lot, formerly home of Longo Toyota, and was selling cars until its bankruptcy filing this month. Longo was relocated by the agency last year. Grand Motors, Grand Chevrolet Inc., Grand Wilshire Finance Corp. and Grand Rizal Inc. have filed for reorganization under Chapter 11 of the U.S.
August 10, 1988 |
The state Department of Motor Vehicles refused Tuesday to rescind its 30-day suspension of the sales licenses of two large Glendora car dealerships, keeping the ailing businesses closed. DMV officials scheduled a hearing for Aug. 22 in Los Angeles to allow Grand Motors and Grand Chevrolet officials to contest the suspension of their sales licenses, DMV spokesman William Gengler said. DMV and Grand officials met in Los Angeles late Tuesday to discuss the suspension further, he said.
January 28, 1989 |
Imperial Corp. of America on Friday eliminated its quarterly dividend and reported a $15.6-million net loss for the fourth quarter ended Dec. 31. The parent company of Imperial Savings & Loan reported a $13.8-million net profit during the like quarter the previous year. Imperial reported $14.9 million in net income for the recently completed year, down from $51.3 million in 1987. Imperial linked the fourth-quarter loss to $52.
August 12, 1988 |
A court-appointed trustee Thursday took control of two troubled Glendora car dealerships and affiliated companies that filed for bankruptcy protection last week. U.S. Bankruptcy Judge William J. Lasarow appointed Irving Sulmeyer, a veteran bankruptcy expert recommended by the Office of the U.S. Trustee, to oversee the operations of Grand Motors, Grand Chevrolet, Grand Wilshire Finance Corp. and Grand Rizal, a real estate company.