April 30, 1991
Frank Fullerton has been named vice president of construction for Akins Development Co. He will oversee all field operations, purchasing and contract negotiations for the Irvine home builder. Previously, Fullerton spent six years as vice president of construction for J. M. Peters Co. and was vice president/general manager for the Southern California division of Ponderosa Homes.
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.
May 7, 1987 |
Southmark Corp. said it plans to take its Newport Beach-based J.M. Peters Co. house-building subsidiary public with an offering of 4.2 million shares of common stock. No price has yet been set for the shares, but Southmark said it will retain 65% to 70% of Peters' common shares after the public offering. In a prepared statement, Southmark said proceeds from the stock sale would be used to reduce the company's outstanding debt and for working capital.
CALIFORNIA | LOCAL
June 4, 1994 |
The developer of a controversial luxury home project on the Burbank hillsides has vowed to fight an effort by a former buyer to auction off the property in a foreclosure sale next week. "That auction is never going to happen," said Sherman Whitmore, who has been trying to build the 117-home project for 11 years, fighting local environmentalists, city and state regulations and now J.M. Peters Co. of Newport Beach. J.M. Peters, claiming that Whitmore owes $1.
October 27, 1993 |
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.
October 22, 1993 |
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.
May 4, 1986
Jeffrey Slavin, vice president of residential marketing at Bramalea California, Costa Mesa, is the new president of the Sales and Marketing Council of the Building Assn. of Southern California. On the new roster are Nick Lehnert, Builders Sales Corp., Santa Ana, first vice president; Valerie van der Zilver, CenTrust Mortgage Corp., second vice president, Tustin; Judy Foster, Homes for Sale Magazine, Irvine, secretary; Bonnie Benton, J. M. Peters Co., Newport Beach, treasurer.
CALIFORNIA | LOCAL
July 12, 1992
As a builder and competitor of the J.M. Peters Co., I must take exception to the editorial questioning the pending sale of the company to another local builder by the Resolution Trust Corp. ("J.M. Peters Deal a Frustrating Prospect," July 5). The proposed sale is not only the best possible deal for the U.S. taxpayers, but it also benefits the Orange County economy and the home-buying public. The Times implies that the new buyer, Capital Pacific Homes, is buying the Peters portfolio of land too cheap, at the expense of the U.S. taxpayer.