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Joseph J Pinola

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BUSINESS
June 2, 1989 | DOUGLAS FRANTZ, Times Staff Writer
First Interstate Bancorp's stock price shot to a new high in heavy trading Thursday following an upbeat prognosis from its chairman for the Los Angeles banking company. The stock closed at $57.50 on the New York Stock Exchange, its highest level in the past 52 weeks and an increase of $2.375 over Wednesday's close. More than 914,000 shares were traded, very heavy volume for First Interstate. On Wednesday, Joseph J. Pinola, the company's chairman and chief executive, told a meeting of 600 institutional investors in New York that efforts to reduce costs overall and to control problems with its Texas bank were promising.
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BUSINESS
January 18, 1990 | JAMES BATES, TIMES STAFF WRITER
First Interstate Bancorp Chairman Joseph J. Pinola, who aggressively built the nation's largest interstate banking network but bid unsuccessfully for rival BankAmerica, announced Wednesday that he will retire June 1. Pinola, who turns 65 on May 13, will be succeeded as chairman and chief executive by Edward M. Carson, 60. Both moves were expected.
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CALIFORNIA | LOCAL
June 29, 1988 | JUDITH MICHAELSON, Times Staff Writer
Joseph J. Pinola, chairman and chief executive officer of First Interstate Bancorp., will become chairman of the Music Center Board of Governors effective July 1, it was announced Tuesday. He succeeds F. Daniel Frost, a senior partner at the law firm of Gibson, Dunn & Crutcher. Frost helped direct the Music Center for 2 1/2 years--for seven months as acting chairman and then chairman for a two-year term. At the time of his election in June, 1986, Frost said he only wanted to serve one term.
BUSINESS
June 12, 1989
Ever wondered what happens when an absent-minded restaurant patron leaves behind a credit card? At Tribeca, a hot new eatery in Beverly Hills, customers get a week's grace to come in to pick up the card--then the staff cuts it into bite-size pieces and throws it away. "There are so many people who leave credit cards here," said a Tribeca employee in response to a question about why she hadn't tried to track down one diner whose card was with a big local bank. "I'd spend hours (trying to find people)
BUSINESS
June 12, 1989
Ever wondered what happens when an absent-minded restaurant patron leaves behind a credit card? At Tribeca, a hot new eatery in Beverly Hills, customers get a week's grace to come in to pick up the card--then the staff cuts it into bite-size pieces and throws it away. "There are so many people who leave credit cards here," said a Tribeca employee in response to a question about why she hadn't tried to track down one diner whose card was with a big local bank. "I'd spend hours (trying to find people)
BUSINESS
January 31, 1987 | VICTOR F. ZONANA, Times Staff Writer
BankAmerica Chairman and Chief Executive A. W. Clausen on Friday flatly ruled out a friendly merger with First Interstate Bancorp--even if the smaller Los Angeles-based banking concern were to sweeten its $3.2-billion bid. "In all candor, I don't see it happening," Clausen said in one of the first interviews he has given since October, when he reassumed the leadership of the beleaguered institution after five years in Washington as head of the World Bank.
BUSINESS
January 18, 1990 | JAMES BATES, TIMES STAFF WRITER
First Interstate Bancorp Chairman Joseph J. Pinola, who aggressively built the nation's largest interstate banking network but bid unsuccessfully for rival BankAmerica, announced Wednesday that he will retire June 1. Pinola, who turns 65 on May 13, will be succeeded as chairman and chief executive by Edward M. Carson, 60. Both moves were expected.
BUSINESS
June 5, 1989 | JANE APPLEGATE, Times Staff Writer and
Very, very early, on a few special mornings, James Miscoll quietly climbs a restricted staircase from his 51st-floor office at the Bank of America Tower. There he stands, relishing his priceless, private view of Los Angeles. "It's no place for acrophobes," laughs Miscoll, who is the bank's top-ranking executive in Southern California. As the Los Angeles skyline reaches new heights, more and more companies eager for quarters that reflect their lofty status are willing to pay up to $50 a square foot--a third or more above the going rate for more earthbound office space.
BUSINESS
December 12, 1988 | DOUGLAS FRANTZ, Times Staff Writer
Last spring, Joe Pinola was ready to grab the brass ring that had eluded him so publicly in his bruising and unsuccessful fight to take over BankAmerica in 1987. His First Interstate Bancorp was slimming down. Unprofitable businesses were on the block. A thousand jobs were being cut. The sale of the bank's half interest in its Los Angeles headquarters building would net $50 million to $75 million.
BUSINESS
September 23, 1988 | DOUGLAS FRANTZ, Times Staff Writer
First Interstate Bancorp said Thursday that it will set aside a surprisingly hefty $180 million for loan losses at its Texas bank and shift $400 million in non-performing loans to a so-called bad bank. The separate actions will result in a third-quarter loss "much in excess of $100 million," but earnings should improve sharply in 1989, Joseph J. Pinola, chairman and chief executive of the Los Angeles-based banking company, said in an interview.
BUSINESS
June 5, 1989 | JANE APPLEGATE, Times Staff Writer and
Very, very early, on a few special mornings, James Miscoll quietly climbs a restricted staircase from his 51st-floor office at the Bank of America Tower. There he stands, relishing his priceless, private view of Los Angeles. "It's no place for acrophobes," laughs Miscoll, who is the bank's top-ranking executive in Southern California. As the Los Angeles skyline reaches new heights, more and more companies eager for quarters that reflect their lofty status are willing to pay up to $50 a square foot--a third or more above the going rate for more earthbound office space.
BUSINESS
June 2, 1989 | DOUGLAS FRANTZ, Times Staff Writer
First Interstate Bancorp's stock price shot to a new high in heavy trading Thursday following an upbeat prognosis from its chairman for the Los Angeles banking company. The stock closed at $57.50 on the New York Stock Exchange, its highest level in the past 52 weeks and an increase of $2.375 over Wednesday's close. More than 914,000 shares were traded, very heavy volume for First Interstate. On Wednesday, Joseph J. Pinola, the company's chairman and chief executive, told a meeting of 600 institutional investors in New York that efforts to reduce costs overall and to control problems with its Texas bank were promising.
BUSINESS
December 12, 1988 | DOUGLAS FRANTZ, Times Staff Writer
Last spring, Joe Pinola was ready to grab the brass ring that had eluded him so publicly in his bruising and unsuccessful fight to take over BankAmerica in 1987. His First Interstate Bancorp was slimming down. Unprofitable businesses were on the block. A thousand jobs were being cut. The sale of the bank's half interest in its Los Angeles headquarters building would net $50 million to $75 million.
CALIFORNIA | LOCAL
June 29, 1988 | JUDITH MICHAELSON, Times Staff Writer
Joseph J. Pinola, chairman and chief executive officer of First Interstate Bancorp., will become chairman of the Music Center Board of Governors effective July 1, it was announced Tuesday. He succeeds F. Daniel Frost, a senior partner at the law firm of Gibson, Dunn & Crutcher. Frost helped direct the Music Center for 2 1/2 years--for seven months as acting chairman and then chairman for a two-year term. At the time of his election in June, 1986, Frost said he only wanted to serve one term.
BUSINESS
January 31, 1987 | VICTOR F. ZONANA, Times Staff Writer
BankAmerica Chairman and Chief Executive A. W. Clausen on Friday flatly ruled out a friendly merger with First Interstate Bancorp--even if the smaller Los Angeles-based banking concern were to sweeten its $3.2-billion bid. "In all candor, I don't see it happening," Clausen said in one of the first interviews he has given since October, when he reassumed the leadership of the beleaguered institution after five years in Washington as head of the World Bank.
BUSINESS
March 22, 1985
Joseph J. Pinola, chairman of Los Angeles-based First Interstate Bancorp, has been elected a director of First Interstate Bank of Washington, based in Seattle.
BUSINESS
December 22, 1985
Southern California Edison Co. named Michael R. Peevey executive vice president, a promotion from his post as senior vice president. Separately, the Rosemead-based utility elected as a director Joseph J. Pinola, chairman and chief executive officer of First Interstate Bancorp, Los Angeles.
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