Grand Wilshire Finance Corp

Gov. George Deukmejian this year reappointed a Glendora car dealer to the board that oversees the state Department of Motor Vehicles even though the governor knew the DMV two months earlier had fined the dealer for hundreds of state Vehicle Code violations. The DMV fined dealerships and affiliated companies headed by Eminiano (Jun) Reodica $100,000 last December for selling used cars as if they were new and for failing to submit car registration information to the state in time.

Eight former employees of an auto firm that prospered with the growth of Southern California's Asian community were charged with criminal fraud Wednesday for tampering with credit reports and other schemes that left lenders with $50 million in bad loans. The conspiracy charges, brought by the U.S. Attorney's Office in Los Angeles, arose from a federal investigation of the Grand Wilshire Group of companies, based in Glendora.

Eight former employees of an auto firm that prospered with the growth of Southern California's Asian community were charged with criminal fraud Wednesday for tampering with credit reports and other schemes that left lenders with $50 million in bad loans. The conspiracy charges, brought by the U.S. Attorney's Office in Los Angeles, arose from a federal investigation of the Grand Wilshire Group of companies, based in Glendora.

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.

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.

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.

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.

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.

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.

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.

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.

Gov. George Deukmejian this year reappointed a Glendora car dealer to the board that oversees the state Department of Motor Vehicles even though the governor knew the DMV two months earlier had fined the dealer for hundreds of state Vehicle Code violations. The DMV fined dealerships and affiliated companies headed by Eminiano (Jun) Reodica $100,000 last December for selling used cars as if they were new and for failing to submit car registration information to the state in time.

San Diego-based Imperial Corp. of America said Friday that it expects an unspecified fourth-quarter loss because of $50 million in reserves set aside partly to cover anticipated losses linked to Grand Wilshire Finance Corp., a Glendora-based automobile finance company that in August entered federal bankruptcy proceedings.

About 270 Southern California auto dealers who sold cars to Grand Chevrolet and its affiliates before the huge operation declared bankruptcy two years ago are being sued by the companies' bankruptcy trustee. The dealers all sold cars to Grand Chevrolet or Grand Motors, a dealership-brokerage affiliate, within 90 days of their Chapter 11 bankruptcy filing in August, 1988.