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James N Thayer

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BUSINESS
December 2, 1988 | TOM FURLONG, Times Staff Writer
Gibraltar Financial in Beverly Hills, hobbled by heavy losses that have eroded its capital, disclosed that it has held preliminary talks with federal savings and loan regulators about ways to find outside investors to bolster its shrinking net worth. Such a move might be coupled with direct financial assistance from the Federal Savings & Loan Insurance Corp., the arm of the Federal Home Loan Bank Board, which steps in when a thrift gets into financial trouble.
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NEWS
August 18, 1993
James N. Thayer, retired chief financial officer of Lear Siegler Inc. and a major supporter of UCLA, has died. He was 67. Thayer died Thursday of cancer at St. Johns Medical Center in Santa Monica, UCLA announced. He had been with Santa Monica-based Lear Siegler from 1967 until his retirement in 1987. Then a director of Gibraltar Financial Corp. of Beverly Hills, Thayer was named president and chairman of Gibraltar in 1988.
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NEWS
April 1, 1989 | TOM FURLONG, Times Staff Writer
Alarmed by large withdrawals of deposits, federal banking regulators Friday seized control of financially ailing Gibraltar Savings, one of California's largest and oldest thrifts, and removed James N. Thayer as its chief executive. The move was part of the U.S. government's continuing effort to clamp down on insolvent and undercapitalized savings and loans across the country.
NEWS
April 1, 1989 | TOM FURLONG, Times Staff Writer
Alarmed by large withdrawals of deposits, federal banking regulators Friday seized control of financially ailing Gibraltar Savings, one of California's largest and oldest thrifts, and removed James N. Thayer as its chief executive. The move was part of the U.S. government's continuing effort to clamp down on insolvent and undercapitalized savings and loans across the country.
NEWS
August 18, 1993
James N. Thayer, retired chief financial officer of Lear Siegler Inc. and a major supporter of UCLA, has died. He was 67. Thayer died Thursday of cancer at St. Johns Medical Center in Santa Monica, UCLA announced. He had been with Santa Monica-based Lear Siegler from 1967 until his retirement in 1987. Then a director of Gibraltar Financial Corp. of Beverly Hills, Thayer was named president and chairman of Gibraltar in 1988.
BUSINESS
October 29, 1988 | TOM FURLONG, Times Staff Writer
Blaming higher interest rates, Gibraltar Financial on Friday reported a loss of $24 million in the third quarter, a strong signal that the giant financial institution in Beverly Hills has yet to turn around its sagging fortunes. The red ink means that Gibraltar, which has $14.7 billion in assets and is one of the 10 largest S&Ls in California, has lost about $195 million since the middle of last year. James N.
BUSINESS
March 3, 1989 | TOM FURLONG, Times Staff Writer
Gibraltar Financial, one of the state's 10 biggest thrifts, said late Thursday that it agreed with federal regulators to limit its lending operations to residential loans in three states, including California. The financial institution, parent company of Gibraltar Savings in Beverly Hills, also said it will close a lending operation known as Gibraltar MoneyCenter, which makes loans to customers outside California.
NEWS
March 31, 1989 | From Associated Press
Federal regulators today seized control of the 10-largest savings and loan association in the nation, Gibraltar Savings in Beverly Hills, and dismissed its chief executive. Although the S&L, with assets of $13.4 billion, was not insolvent, regulators were taking it over because its officers "were found to be operating in an unsafe and unsound manner and dissipating their assets," said William Fulwider, a spokesman for the Federal Home Loan Bank Board in Washington.
BUSINESS
October 2, 1992 | JAMES BATES, TIMES STAFF WRITER
Federal officials on Thursday sued nine former Gibraltar Savings directors and officers--including former state controller and unsuccessful gubernatorial candidate Houston I. Flournoy--alleging that they recklessly steered the Simi Valley thrift toward collapse. The federal Resolution Trust Corp, which is charged with mopping up the nation's thrift mess, is seeking $100 million in damages for negligence. Gibraltar, part of Gibraltar Financial Corp.
BUSINESS
December 2, 1988 | TOM FURLONG, Times Staff Writer
Gibraltar Financial in Beverly Hills, hobbled by heavy losses that have eroded its capital, disclosed that it has held preliminary talks with federal savings and loan regulators about ways to find outside investors to bolster its shrinking net worth. Such a move might be coupled with direct financial assistance from the Federal Savings & Loan Insurance Corp., the arm of the Federal Home Loan Bank Board, which steps in when a thrift gets into financial trouble.
BUSINESS
April 20, 1988 | TOM FURLONG, Times Staff Writer
Herbert J. Young, replaced recently as head of ailing Gibraltar Savings in Beverly Hills after more than 35 years with the firm, has received a lump-sum payment of $1.29 million, the company's annual proxy statement shows. Young's retirement from Gibraltar Financial, the parent company, was announced early last month. Young, 56, had been chairman of the firm for 20 years and chief executive for the past 27.
BUSINESS
April 4, 1989 | TOM FURLONG, Times Staff Writer
The reluctance of money brokers to sell certificates of deposit for Gibraltar Savings was a major cause of the liquidity problems that led U.S. banking regulators to seize control of the giant savings and loan last week, the company's former chief executive said Monday. "Certain brokers would not roll over our CDs," said James N. Thayer, who was ousted as Gibraltar Savings' chief executive as part of the regulatory action. "Without question, that affected our liquidity."
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