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BUSINESS
December 12, 1992 | From Times Staff and Wire Reports
Homefed Files $5.5 Billion of Claims Against RTC: Homefed Corp., the parent of failed Homefed Bank of San Diego, filed claims totaling more than $5.5 billion against the Resolution Trust Corp. and alleged the federal government may be botching the liquidation of the insolvent S&L. Homefed Corp. Chief Executive Theodore Sprink described the filing as a possible bargaining maneuver in resolving claims the RTC may have against Homefed Corp.
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BUSINESS
June 12, 1993 | From Times Staff and Wire Reports
HomeFed Corp. Files $5-Billion Suit: The federal suit filed in San Diego against the Resolution Trust Corp. alleges breach of contract and mismanagement at the failed San Diego-based bank. It also alleges breach of duty in the government's handling of the thrift. Federal regulators in July seized HomeFed, the nation's eighth-largest savings and loan. The former holding company for HomeFed Bank filed claims last fall totaling $5.
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BUSINESS
November 3, 1990 | GREG JOHNSON and CHRIS KRAUL, TIMES STAFF WRITERS
A group led by Idanta Partners, a La Jolla investment firm whose principal owners are the Bass brothers of Texas, has acquired 7.2% of HomeFed Corp.'s outstanding shares, according to a Friday filing with the Securities and Exchange Commission. Idanta founder and general partner David J. Dunn on Friday maintained that his firm acquired the HomeFed stock for investment purposes only.
BUSINESS
March 10, 1993 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
In a stinging denunciation, the president of the former parent company of failed Homefed Bank in San Diego has called on the Clinton Administration and Congress to abolish the Resolution Trust Corp., accusing the federal agency of massive "waste and mismanagement." Meanwhile, RTC President Albert V. Casey will leave his job at the end of this week--two weeks early--at the urging of the Administration, sources said Tuesday.
BUSINESS
July 25, 1991 | CHRIS KRAUL, SAN DIEGO COUNTY BUSINESS EDITOR
The parent company of HomeFed Bank, one of the nation's largest thrifts, reported a net loss of $112.5 million in the second quarter, heightening the prospect of a government takeover of the troubled savings and loan. HomeFed Corp., once considered an industry leader, has fallen on hard timesbecause of bad commercial real estate loans. The thrift has been bleeding for the past five quarters, losing $247.5 million in all of 1990 and $173.9 million for first quarter 1991.
BUSINESS
April 9, 1992 | CHRIS KRAUL, SAN DIEGO COUNTY BUSINESS EDITOR
The parent of HomeFed Bank on Wednesday reported its first quarterly profit since late 1990, but said the results won't change the federal government's plans to force a sale of its troubled thrift this year. HomeFed Corp. said it had net earnings of $30.7 million in the first quarter ended March 31, but largely because of one-time special gains. The gain contrasted with a first-quarter loss of $173.9 million in 1991. The thrift company lost $807 million in 1991. The thrift, with assets of $13.
BUSINESS
April 21, 1989
HomeFed Corp.: HomeFed Corp. announced that its first-quarter net income increased to $30.5 million, up 23% from the same period last year. Revenue for the quarter totaled $448.2 million, a gain of 24%. HomeFed is the parent company of Home Federal Savings & Loan, which operates 200 banking offices in California and lending offices in Florida, Georgia and Virginia. The firm credited the earnings increase to healthy gains in all revenue-producing areas.
BUSINESS
June 26, 1992 | CHRIS KRAUL, SAN DIEGO COUNTY BUSINESS EDITOR
A group of HomeFed Corp. bondholders petitioned U.S. Bankruptcy Court here Thursday to force the parent of HomeFed Bank into involuntary bankruptcy. The investors' petition filed under Chapter 11 of the Bankruptcy Code seeks to recover some of the $120 million in HomeFed Corp. bonds that are in danger of being rendered worthless by the imminent failure of HomeFed Corp.'s principal operation, HomeFed Bank. HomeFed Corp. missed a $3.
BUSINESS
July 8, 1992 | ROBERT A. ROSENBLATT and CHRIS KRAUL, TIMES STAFF WRITERS
The government's takeover Monday of San Diego-based Homefed Bank has deepened election-year political fighting over the massive clean-up of the savings and loan industry and raised anxiety about the failure's economic consequences for California. Homefed, the nation's eighth-largest thrift with $13.5 billion in assets, was seized by federal regulators who said Congress' failure to provide more funding for the industry bailout undermined efforts to find a private buyer for the institution.
BUSINESS
June 26, 1992 | CHRIS KRAUL, SAN DIEGO COUNTY BUSINESS EDITOR
A group of HomeFed Corp. bondholders petitioned U.S. Bankruptcy Court here Thursday to force the parent of HomeFed Bank into involuntary bankruptcy. The investors' petition filed under Chapter 11 of the Bankruptcy Code seeks to recover some of the $120 million in HomeFed Corp. bonds that are in danger of being rendered worthless by the imminent failure of HomeFed Corp.'s principal operation, HomeFed Bank. HomeFed Corp. missed a $3.
BUSINESS
April 28, 1992
Companies ranked by percentage loss in stock price. % Change 4/10/92 4/12/91 Stock Stock Stock Rank Company Price Price Price 1 HomeFed Corp. -92.8 .31 4.38 2 Nu-Med Inc. -82.8 .63 3.63 3 Live Entertainment -81.3 3.00 16.00 4 Standard Brands Paint Co. -79.0 1.63 7.75 5 Carolco Pictures Inc. -70.8 2.38 8.13 6 Failure Group Inc. -69.0 8.75 28.25 7 Advanced Logic Research Inc. -67.1 6.75 20.50 8 Community Psychiatric Ctrs. -66.1 12.38 36.50 9 PS Group Inc. -65.3 22.00 63.
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