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J M Peters Co Inc

BUSINESS
October 17, 1991 | JOHN O'DELL, TIMES STAFF WRITER
Barratt American Inc., once one of the county's largest home builders, has pared its staff by nearly 30% since early September, changed presidents several weeks ago and is preparing to move its U.S. headquarters to north San Diego County to help cut operating costs. Separately, officials at J.M. Peters Co.
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BUSINESS
August 15, 1991 | MICHAEL FLAGG, TIMES STAFF WRITER
The Texas savings and loan that owns J.M. Peters Co. said Wednesday that it has received permission from the federal government to sell its majority stake in the Newport Beach home builder. San Jacinto Savings Assn. in Houston said it has hired investment banker McFarland Dewey & Co. to help solicit bids for J.M. Peters before Sept. 30. A sale is expected before year's end. San Jacinto was taken over last year by the federal Resolution Trust Corp.
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
May 30, 1991 | MICHAEL FLAGG, TIMES STAFF WRITER
Home builder J.M. Peters Co. said Wednesday that it lost $102 million in its fourth quarter and $108 million in its latest fiscal year, much of it from unsold houses and from vacant land that the company must sell at a loss. The loss in the fourth quarter was in contrast with a profit of $11.1 million in the fourth quarter of fiscal 1990. Revenue in the fourth quarter fell to $53.7 million; it was $127.5 million in the previous quarter.
BUSINESS
May 30, 1991 | MICHAEL FLAGG, TIMES STAFF WRITER
Home builder J. M. Peters Co. said Wednesday that it lost $102 million in its fourth quarter and $108 million in its latest fiscal year, much of it from unsold houses and vacant land the company must sell at a loss. The loss in the fourth quarter compared to a profit of $11.1 million in the fourth quarter of fiscal 1990. Quarterly revenue fell to $53.7 million from $127.5 million. The company closed sales on 146 homes, compared to 294 the quarter before.
BUSINESS
May 26, 1991
Bruce Karatz of Kaufman & Broad Home Corp. saw his pay drop from $3 million in 1989 to $1.8 million in 1990--a $1.18 million decline. Second-biggest pay cut will go to Christopher Gibbs, J. M. Peters Co., whose compensation fell from $2.9 million to $1.8 million.
BUSINESS
March 22, 1991 | John O'Dell, Times staff writer
Builder James M. Peters, whose once fabulously successful J.M. Peters Co. has been pummeled by the housing recession and the thrift-industry debacle, has assured shareholders that he will remain with the firm at least until federal regulators find a buyer for the 86% of the company once owned by insolvent San Jacinto Savings in Houston. The Peters Co. has been liquidating unsold inventory and raw land at distress-sale prices to pay off nearly $100 million in overdue construction loans.
BUSINESS
March 17, 1991 | JOHN O'DELL, TIMES STAFF WRITER
Builder James M. Peters said in late 1988 that the luxury homes his company built would always be an important part of the Orange County housing market. Other builders listened to him closely--perhaps too closely. Because by mid-1989, with dozens of other builders jumping on the big-house bandwagon, prospective buyers looked at a market saturated with homes carrying hefty price tags of $400,000 and more, and put their checkbooks away.
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