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John E Wertin

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BUSINESS
March 30, 1993 | MICHAEL FLAGG, TIMES STAFF WRITER
One of Southern California's biggest home builders and a heavy hitter who once owned the Seattle Mariners baseball team have parted ways over real estate deals that went sour. John E. Wertin owns Woodcrest Development Inc. of Irvine, the eighth-largest home builder in Southern California last year. George Argyros, who sold the Mariners a few years ago, is one of the largest apartment owners in Orange County. The two are partners in several large development deals.
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BUSINESS
March 30, 1993 | MICHAEL FLAGG, TIMES STAFF WRITER
One of Southern California's biggest home builders and a heavy hitter who once owned the Seattle Mariners baseball team have parted ways over real estate deals that went sour. John E. Wertin owns Woodcrest Development Inc. of Irvine, the eighth-largest home builder in Southern California last year. George Argyros, who sold the Mariners a few years ago, is one of the largest apartment owners in Orange County. The two are partners in several large development deals.
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BUSINESS
July 18, 1989 | JAMES S. GRANELLI, Times Staff Writer
The proposed sale of Pioneer Savings & Loan in Newport Beach to Irvine developer John E. Wertin has died. Wertin, who bought a recovering Bank of San Clemente in late 1987, had been negotiating for the purchase of Pioneer since September. He gave up on July 3, according to a recent notice from the state Department of Savings and Loan. Neither Wertin nor James F. Deane, Pioneer's chairman, could be reached to explain why the deal fell through.
BUSINESS
March 24, 1993 | JOHN O'DELL, TIMES STAFF WRITER
Woodcrest Development Inc., until recently one of Southern California's largest home builders, will shut down almost all of its operations at the end of the month. Ronald Gilles, Woodcrest's former president, acknowledged Tuesday that the Irvine-based builder has fallen on hard times and will lay off most of its 90 remaining employees as of April 1. Woodcrest is part of a family of residential, apartment and commercial development companies owned by Corona del Mar investor John E. Wertin.
BUSINESS
March 24, 1993 | JOHN O'DELL, TIMES STAFF WRITER
Woodcrest Development Inc., until recently one of Southern California's largest home builders, will shut down almost all of its operations at the end of the month. Ronald Gilles, Woodcrest's former president, acknowledged Tuesday that the Irvine-based builder has fallen on hard times and will lay off most of its 90 remaining employees as of April 1. Woodcrest is part of a family of residential, apartment and commercial development companies owned by Corona del Mar investor John E. Wertin.
BUSINESS
March 18, 1985
Mark H. Lee has resigned as president of American Pacific Corp., an Irvine-based real estate development and specialty chemical manufacturing company, following his purchase last month of Petrox Industries Inc., an American Pacific subsidiary. Lee "will be pursuing other business operations through Petrox" and will remain a consultant to American Pacific for an unspecified period, according to a company statement. He will have no further ties to the company, a spokesman said.
BUSINESS
August 14, 1985 | LESLIE BERKMAN
American Pacific Corp. Tuesday announced a $4.1 million loss for its third fiscal quarter ended June 30, compared to a $393,000 loss for the same quarter a year ago. The firm posted third quarter revenues of $11.7 million, down nearly 50% from $22.2 million in the third quarter of fiscal 1984.
BUSINESS
November 6, 1987 | JAMES S. GRANELLI, Times Staff Writer
The ailing Bank of San Clemente, long on the industry's death watch, cheated the executioner Thursday by closing a $1.5-million deal that makes it one of the healthier banks in Orange County. Irvine real estate developer John E. Wertin turned over his check in exchange for 1.5 million new shares of stock in the bank's holding company, San Clemente Bancorp, making him 80% owner of the company and raising the bank's capital well above what regulators had required.
BUSINESS
May 31, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
Eldorado Bank agreed Thursday to acquire the holding company of Bank of San Clemente for $5.5 million in a deal that will make Eldorado the largest bank in Orange County. The acquisition of San Clemente Bancorp, owner of the small but growing San Clemente bank, needs only the approval of state and federal shareholders, according to officials of both institutions. "Unless some huge surprise comes up, we plan to close the deal in about four months," said J.B.
BUSINESS
May 16, 1985 | LESLIE BERKMAN, Times Staff Writer
In an attempt to make itself more attractive to public investors, Irvine-based American Pacific Corp. said Wednesday that its board of directors is considering the sale of its real estate and housing operations to its chairman and principal stockholder in an approximately $10-million stock transaction. "Basically it is our feeling the stock market doesn't value real estate companies fairly," said American Pacific Vice President Paul L. Winther.
BUSINESS
July 18, 1989 | JAMES S. GRANELLI, Times Staff Writer
The proposed sale of Pioneer Savings & Loan in Newport Beach to Irvine developer John E. Wertin has died. Wertin, who bought a recovering Bank of San Clemente in late 1987, had been negotiating for the purchase of Pioneer since September. He gave up on July 3, according to a recent notice from the state Department of Savings and Loan. Neither Wertin nor James F. Deane, Pioneer's chairman, could be reached to explain why the deal fell through.
BUSINESS
March 31, 1993 | JOHN O'DELL, TIMES STAFF WRITER
The former top officers of financially battered Woodcrest Development Inc. said Tuesday that they are starting a new company and hope to have as many as 525 houses under construction within a few months. Ronald Gilles, formerly Woodcrest's corporate president, will be chairman and chief executive of the new StoneBrook Homes and will operate from offices in Irvine. Wayne A. Barnett, who had headed Woodcrest's San Diego division, will be president and chief operating officer of the new company.
BUSINESS
September 13, 1988 | JAMES S. GRANELLI, Times Staff Writer
Developer John E. Wertin, who bought control of a recovering Bank of San Clemente last year, has agreed to acquire Pioneer Savings & Loan in a $1.5-million cash deal that would help end a bitter dispute over ownership of the Newport Beach savings institution. Wertin, head of the Pacific Co.
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