May 30, 1992 |
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.'
April 4, 1992 |
In an unexpected move, construction giant Kaufman & Broad Home Corp. announced Friday that it has abandoned its offer to buy Newport Beach home builder J. M. Peters Co. Officials of Los Angeles-based Kaufman & Broad and J. M. Peters were tight-lipped about the reasons why the deal fell apart. "We're really not saying much, (but) it reflects the fact that there were many other opportunities, possibly of a more attractive nature," said Bernie Sandalow, a Kaufman & Broad spokesman.
March 5, 1992 |
In a move that bolsters its new reputation as one of the West's most aggressive home-building firms, Kaufman & Broad Home Corp. said Wednesday that it has entered a preliminary agreement to acquire controlling interest in J.M. Peters Co. K&B officials were on a stock-selling trip and unavailable to elaborate on the terse announcement issued from the company's Los Angeles headquarters.
February 8, 1992 |
Home-Building Company's Stock Leaps: A burst of trading Friday drove the price of J. M. Peters Co. stock to a 52-week high of $4.25 a share, up $1.50 in American Stock Exchange trading. James Peters, chairman of the Newport Beach home-building company, said he knew of no reason for the stock's activity. Analyst David Rose of Cruttenden and Co. in Newport Beach suggested that speculators may believe a sale is near of controlling interest in the company. The federal Resolution Trust Corp.
CALIFORNIA | LOCAL
December 20, 1991 |
A couple who claim they were denied a loan for a house they were trying to buy in Coto de Caza because they are black can refile a racial discrimination lawsuit against the lending company, an appeals court said in a ruling released Thursday. George and Elizabeth Green initially won an $80,000 jury verdict in the case in July, 1990, despite the jury's finding that racial discrimination was not a factor in the lender's denial of a loan to the couple.
December 18, 1991 |
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.
December 8, 1991 |
Using Mello-Roos bonds to pay for projects in undeveloped areas can be risky even in Orange County, as was shown recently when two major firms failed to pay their tax bills for a site just northwest of Mission Viejo. Here's what happened at Portola Hills, a project of the Baldwin Co. and J.M. Peters Co.
October 27, 1991 |
As county supervisors cleared the way for a decade-long housing boom that changed the face of Orange County, millions of dollars poured into their campaign coffers from development interests, many of which stood to profit from that growth.