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J M Peters Co

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BUSINESS
October 27, 1993 | DEBORA VRANA, SPECIAL TO THE TIMES
Charging that home builder J.M. Peters Co. has defaulted on a $12-million loan, an investment group is asking a court to foreclose on a retirement community in Mission Viejo that secures the loan. A lawsuit filed Oct. 22 in Orange County Superior Court by West Coast Land Fund, a limited partnership, asks that Superior Court Judge William F. McDonald foreclose on at least portions of Palmia, a 208-acre retirement community at Monterey Boulevard and Santa Margarita Parkway in Mission Viejo.
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BUSINESS
December 17, 1993
J.M. Peters Co. Inc., a major regional home builder, said that earnings in its fiscal 1994 third quarter tripled to $6 million, with much of the increase due to a onetime gain of $4.4 million from the restructuring of a project financing agreement. Quarterly sales increased 58%, to $37.3 million from $23.5 million a year ago, as J.M. Peters completed 165 homes. Operating profit for the quarter climbed to $1.6 million, or 11 cents a share, from the year-earlier $200,000, or 1 cent a share.
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BUSINESS
October 22, 1993 | JOHN O'DELL, TIMES STAFF WRITER
In what its president called "the real turnaround point for us," home builder J.M. Peters Co. said Thursday it posted a profit of $4.7 million for September--its first in 39 months. Though most of the earnings came from a onetime gain of $4.4 million, J.M. Peters also recorded a $340,000 profit from its business of building and selling homes. "This is the direction we'll be heading from now on," company President Dale Dowers said.
BUSINESS
October 27, 1993 | DEBORA VRANA, SPECIAL TO THE TIMES
Charging that home builder J.M. Peters Co. has defaulted on a $12-million loan, an investment group is asking a court to foreclose on a retirement community in Mission Viejo that secures the loan. A lawsuit filed Oct. 22 in Orange County Superior Court by West Coast Land Fund, a limited partnership, asks that Superior Court Judge William F. McDonald foreclose on at least portions of Palmia, a 208-acre retirement community at Monterey Boulevard and Santa Margarita Parkway in Mission Viejo.
BUSINESS
September 23, 1992 | JOHN O'DELL, TIMES STAFF WRITER
After nearly a year of virtual inactivity as the federal Resolution Trust Corp. choked off its financing while trying to sell it, the newly reorganized J.M. Peters Co. has obtained a $23.6-million investment that has put the home builder back to work. The financing, provided by a major pension fund whose identity was not disclosed, lets Peters Co. begin work on 335 homes in four South County projects. Grubb & Ellis Co.'s Newport Beach office arranged the funding.
BUSINESS
September 21, 1988
ADDRESS: 3501 Jamboree Rd., Newport Beach. BUSINESS: The company builds single-family homes in Southern California. ASSETS: $241.6 million (Feb. 28, 1988). NUMBER OF EMPLOYEES: 215. TOP EXECUTIVES: Cash Name Position Compensation James M. Peters Chairman, president, $375,750 chief executive officer Christopher Gibbs Executive vice president, NA chief operating officer William J. Pittman Vice president, $410,625 chief financial officer Richard D. Bradshaw Vice president $479,897 Marquis L.
BUSINESS
August 12, 1991 | Researched by DALLAS M. JACKSON/Los Angeles Times
Nature of Business: Developer and builder of higher-priced single-family homes. Employees Total: 115 Orange County: 92 Stock Designation: Listed on American Stock Exchange as "Peters"; Ticker Symbol: "JMP" Friday's Stock Close: $2.25 Change: -$0.25 Analyst review: "The Resolution Trust Corp. is looking to sell J.M. Peters, but don't anticipate a sale for at least six months.
BUSINESS
February 13, 1988 | MICHAEL FLAGG, Times Staff Writer
Newport Beach home builder J. M. Peters Co. will be sold for the second time in less than three years, this time to MDC Holdings Inc. of Denver. MDC is paying $100 million in "first mortgage receivables" for Peters, almost five times the $21 million that Dallas-based Southmark paid to acquire the firm in 1985.
BUSINESS
September 19, 1987
J.M. Peters Co. Inc., a major Southern California home building firm based in Newport Beach, Friday said it was starting its previously announced initial public offering to raise $10.5 million. Peters is selling 12.7% of its common stock--or 1.75 million shares--at $6 per share, giving the company a market value of almost $83 million. Southmark Corp., a Dallas-based real estate and financial services firm, bought J.M. Peters last year for about $22 million and will retain 87.
BUSINESS
December 17, 1993
J.M. Peters Co. Inc., a major regional home builder, said that earnings in its fiscal 1994 third quarter tripled to $6 million, with much of the increase due to a onetime gain of $4.4 million from the restructuring of a project financing agreement. Quarterly sales increased 58%, to $37.3 million from $23.5 million a year ago, as J.M. Peters completed 165 homes. Operating profit for the quarter climbed to $1.6 million, or 11 cents a share, from the year-earlier $200,000, or 1 cent a share.
BUSINESS
October 22, 1993 | JOHN O'DELL, TIMES STAFF WRITER
In what its president called "the real turnaround point for us," home builder J.M. Peters Co. said Thursday it posted a profit of $4.7 million for September--its first in 39 months. Though most of the earnings came from a onetime gain of $4.4 million, J.M. Peters also recorded a $340,000 profit from its business of building and selling homes. "This is the direction we'll be heading from now on," company President Dale Dowers said.
BUSINESS
September 23, 1992 | JOHN O'DELL, TIMES STAFF WRITER
After nearly a year of virtual inactivity as the federal Resolution Trust Corp. choked off its financing while trying to sell it, the newly reorganized J.M. Peters Co. has obtained a $23.6-million investment that has put the home builder back to work. The financing, provided by a major pension fund whose identity was not disclosed, lets Peters Co. begin work on 335 homes in four South County projects. Grubb & Ellis Co.'s Newport Beach office arranged the funding.
BUSINESS
May 30, 1992 | JOHN O'DELL, TIMES STAFF WRITER
Capital Pacific Homes, a year-old firm headed by longtime Orange County builder Dale Dowers and former Washington construction magnate Hadi Makarechian, said Friday it has won exclusive rights to negotiate for the acquisition of the J.M. Peters Co. Although all of the parties in the deal refuse to provide details--despite the Peters Co.'
BUSINESS
December 18, 1991 | JOHN O'DELL, TIMES STAFF WRITER
J.M. Peters Co. Inc., its faltering performance bolstered by a huge cut in its federal income tax bill, Thursday reported third-quarter profit of $8.8 million, or 63 cents a share, compared to a year-earlier net loss of $7.1 million, or 51 cents a share. But the builder of upscale homes posted an operating loss of $5.1 million for the quarter ended Nov. 30, compared to a loss of $11.5 million for the 1990 quarter. Sales plunged 41% to $23.5 million from $40 million.
BUSINESS
August 12, 1991 | Researched by DALLAS M. JACKSON/Los Angeles Times
Nature of Business: Developer and builder of higher-priced single-family homes. Employees Total: 115 Orange County: 92 Stock Designation: Listed on American Stock Exchange as "Peters"; Ticker Symbol: "JMP" Friday's Stock Close: $2.25 Change: -$0.25 Analyst review: "The Resolution Trust Corp. is looking to sell J.M. Peters, but don't anticipate a sale for at least six months.
BUSINESS
December 4, 1990 | MICHAEL FLAGG, TIMES STAFF WRITER
The federal government last week acquired another piece of flotsam from the wreckage of the thrift industry: J.M. Peters Co. Inc., a local home builder owned mostly by San Jacinto Savings & Loan Assn. Federal regulators seized San Jacinto on Friday, and on Monday the government said it would probably try to sell the home builder, which San Jacinto put up for sale more than a year ago. An official from the federal Resolution Trust Corp.
BUSINESS
May 31, 1990 | JOHN O'DELL, TIMES STAFF WRITER
Apparently moving to protect his interest in the company he founded, sold and is now trying to buy back, developer James M. Peters has signed a one-year extension of his employment agreement with J. M. Peters Co., officials of the large Southland residential development firm said Wednesday. The company said Peters' new agreement calls for him to remain as chairman and chief executive through Feb. 28, 1991.
BUSINESS
December 18, 1991 | JOHN O'DELL, TIMES STAFF WRITER
J.M. Peters Co. Inc., its faltering performance bolstered by a huge cut in its federal income tax bill, Thursday reported third-quarter profit of $8.8 million, or 63 cents a share, compared to a year-earlier net loss of $7.1 million, or 51 cents a share. But the builder of upscale homes posted an operating loss of $5.1 million for the quarter ended Nov. 30, compared to a loss of $11.5 million for the 1990 quarter. Sales plunged 41% to $23.5 million from $40 million.
BUSINESS
May 31, 1990 | JOHN O'DELL, TIMES STAFF WRITER
Apparently moving to protect his interest in the company he founded, sold and now is trying to buy back, developer James M. Peters has signed a one-year extension of his employment agreement with J.M. Peters Co., officials of the large Southland residential development firm said Wednesday. The company said that Peters' new agreement calls for him to remain as chairman and chief executive through Feb. 28, 1991.
BUSINESS
May 31, 1990 | JOHN O'DELL, TIMES STAFF WRITER
Apparently moving to protect his interest in the company he founded, sold and is now trying to buy back, developer James M. Peters has signed a one-year extension of his employment agreement with J. M. Peters Co., officials of the large Southland residential development firm said Wednesday. The company said Peters' new agreement calls for him to remain as chairman and chief executive through Feb. 28, 1991.
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