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BUSINESS
October 12, 1992 | From Associated Press
What happens to the billions in loans held by failed thrifts or left lurking on the books of banks and insurance companies? A number of investors and real estate specialists are forming new companies throughout the country to match buyers and sellers of these problem loans, similar in some respects to the way brokers trade stocks. The potential market is small compared to the size of the $3.9-trillion market in U.S. stocks but still is considerable. The nation's banks had $74.
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BUSINESS
October 12, 1992 | From Associated Press
What happens to the billions in loans held by failed thrifts or left lurking on the books of banks and insurance companies? A number of investors and real estate specialists are forming new companies throughout the country to match buyers and sellers of these problem loans, similar in some respects to the way brokers trade stocks. The potential market is small compared to the size of the $3.9-trillion market in U.S. stocks but still is considerable. The nation's banks had $74.
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REAL ESTATE
February 9, 1986
An open house will be held from noon to 3 p.m. today at Wilshire Westwood Terrace condominium, 10645 Wilshire Blvd., in advance of a public auction at the development later this month. Eight units will be for sale at the no-minimum-bid auction, according to a spokesman for JBS & Associates Inc., Northbrook, Ill., the auctioneers. The sale will be held Feb. 20 at 6:30 p.m. at the Beverly Wilshire.
BUSINESS
August 23, 1988 | Associated Press
The Federal Deposit Insurance Corp. will try a new approach--a public auction--to sell more than $75 million in shaky loans that it acquired in its 1984 bailout of the Continental Illinois National Bank & Trust Co., officials said Monday. Parties ranging from other financial institutions to collection agencies and "vulture funds" are likely to join in the bidding Oct. 20, according Joel D. Zegart, president of JBS & Associates Inc.
REAL ESTATE
February 16, 1986 | RUTH RYON, Times Staff Writer
One of Manhattan's major office buildings, the 60-story Salmon Tower on the northwest corner of Fifth Avenue and 42nd Street, has been sold for $124 million in what is being called "one of the largest single property transactions to take place in New York in recent years." It was also the first time that the building has been sold since it was built in 1930 by Walter J. Salmon for himself and his family.
NEWS
November 28, 1992 | SUSAN MOFFAT and CHRIS WOODYARD, TIMES STAFF WRITERS
Buoyed by signs of an improving economy and fed up with belt-tightening, shoppers nationwide Friday made the customary opening day of the Christmas retail season the brightest in several years, although many were seeking bargains, not status symbols. People ventured out in large numbers to browse and buy throughout Orange County and the rest of Southern California, undaunted by an early morning earthquake and an economic recovery that lags that in the rest of the nation.
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