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Kaiser Steel Corp

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CALIFORNIA | LOCAL
October 5, 2003 | Cecilia Rasmussen, Times Staff Writer
Long before Henry J. Kaiser's name became associated with health care, his empire spanned North America on sturdy legs of steel, cement and aluminum. He almost single-handedly laid the foundation for the West's industrial boom, along with one of the nation's largest nonprofit health maintenance organizations. Both ventures stemmed from his longtime motto: "Find a need and fill it."
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BUSINESS
June 12, 1987
The United Steelworkers of America filed court documents urging a bankruptcy judge to keep Kaiser Steel Corp. from terminating two pension plans covering 7,300 retired Fontana workers. In papers filed in federal bankruptcy court in Denver by UAW District 39, the union said termination of the pension plans would immediately cause about 1,300 retirees to lose about $400 each in monthly supplemental benefits.
BUSINESS
June 2, 1993 | From Associated Press
Professional advisers to employee pension plans may not be sued for monetary damages for giving bad advice, the Supreme Court ruled Tuesday. In a case that was brought on behalf of pension recipients of Kaiser Steel Corp., in Oakland, the court said by a 5-4 vote that federal pension law does not authorize such lawsuits against outside consultants who do not have management control over pension plans.
NEWS
February 12, 1987 | From Reuters
Kaiser Steel Corp., a privately held steel and coal concern in the middle of a bitter boardroom dispute, filed today for Chapter 11 bankruptcy protection from its creditors. At odds have been the company's chairman, Bruce Hendry, and board member Monty H. Rial, ousted by Hendry as chairman when the company missed dividend payments. More recently, the Colorado Springs-based company canceled medical benefits for 5,000 workers and retirees after it could not meet the weekly payments.
BUSINESS
June 14, 1988 | NANCY RIVERA BROOKS, Times Staff Writer
Troubled Kaiser Steel Corp., which is operating under bankruptcy law protection, said Monday that it has named a new chief executive as part of a management change negotiated with creditors early this year. Richard E. Stoddard, a Denver lawyer and certified public accountant, was selected following a three-month national search conducted by a division of Price Waterhouse & Co. Stoddard, 37, most recently was managing director of Roath & Brega, the law firm representing Kaiser Steel's retirees.
BUSINESS
January 29, 1986
Arthur W. Mullin was named vice president-finance and chief financial officer for Kaiser Steel Corp., Fontana.
ENTERTAINMENT
May 17, 1989
Kaiser Steel Resources: The reorganized successor to Kaiser Steel Corp. said it earned $951,423 on revenue of $1.3 million in its first quarter. The Rancho Cucamonga company said that because it was in bankruptcy proceedings during the first quarter of 1988, year-earlier results have no relevance and were not provided. The company noted that revenue from a long-term water rights transaction with the Southern California Water District and lease payments from Mine Reclamation Corp. helped the results.
BUSINESS
November 3, 1992 | From Times Staff and Wire Reports
10 Acres of Old Kaiser Mill Headed to China: Part of Kaiser Steel's old Fontana mill that turned pig iron into ribbons of semi-finished steel will be broken down and shipped to China for reassembly, 20-story building and all, officials said. The deal was agreed to by California Steel Industries Inc., which bought Kaiser's finishing mill in 1984, a year after Kaiser shut down. California Steel, which continues to produce finished steel, is selling the No.
BUSINESS
November 20, 1989 | From United Press International
Kaiser Steel Receives Title to California Acreage: Kaiser Steel Resources Inc., in proceedings Wednesday before Judge Charles Matheson of the U.S. Bankruptcy Court in Denver, reached a settlement that will give the company title to 213 acres adjacent to the former Kaiser steel mill near Fontana. The mill was shut down in the early 1980s when the company filed for bankruptcy court protection. Kaiser Steel Resources, the successor company to Kaiser Steel Co.
ENTERTAINMENT
May 17, 1989
Kaiser Steel Resources: The reorganized successor to Kaiser Steel Corp. said it earned $951,423 on revenue of $1.3 million in its first quarter. The Rancho Cucamonga company said that because it was in bankruptcy proceedings during the first quarter of 1988, year-earlier results have no relevance and were not provided. The company noted that revenue from a long-term water rights transaction with the Southern California Water District and lease payments from Mine Reclamation Corp. helped the results.
BUSINESS
June 14, 1988 | NANCY RIVERA BROOKS, Times Staff Writer
Troubled Kaiser Steel Corp., which is operating under bankruptcy law protection, said Monday that it has named a new chief executive as part of a management change negotiated with creditors early this year. Richard E. Stoddard, a Denver lawyer and certified public accountant, was selected following a three-month national search conducted by a division of Price Waterhouse & Co. Stoddard, 37, most recently was managing director of Roath & Brega, the law firm representing Kaiser Steel's retirees.
BUSINESS
June 2, 1993 | From Associated Press
Professional advisers to employee pension plans may not be sued for monetary damages for giving bad advice, the Supreme Court ruled Tuesday. In a case that was brought on behalf of pension recipients of Kaiser Steel Corp., in Oakland, the court said by a 5-4 vote that federal pension law does not authorize such lawsuits against outside consultants who do not have management control over pension plans.
BUSINESS
June 1, 1987 | Associated Press
Kaiser Steel Corp. has asked a federal agency to assume its remaining three pension plans covering more than 7,600 retirees and spouses, many of whom worked at Fontana steel mills, officials said. The Pension Benefit Guaranty Corp., which insures company pension plans nationwide, assumed one Kaiser plan in March at an estimated cost of $27 million. That plan covers 1,000 current and retired salaried employees.
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