Advertisement
YOU ARE HERE: LAT HomeCollectionsLeonard Shane
IN THE NEWS

Leonard Shane

FEATURED ARTICLES
CALIFORNIA | LOCAL
April 15, 1998 | DARYL STRICKLAND, TIMES STAFF WRITER
Leonard Shane, who founded Mercury Savings & Loan and headed the thrift industry's main trade group while becoming one of its most respected boosters, died Sunday after a heart attack. He was 75. Shane was stricken at home and was rushed to Mission Hospital Regional Medical Center in Mission Viejo where he was pronounced dead. Services will be at 11 a.m. today at Harbor Lawn-Mt. Olive Memorial Park & Mortuary in Costa Mesa.
ARTICLES BY DATE
CALIFORNIA | LOCAL
April 15, 1998 | DARYL STRICKLAND, TIMES STAFF WRITER
Leonard Shane, who founded Mercury Savings & Loan and headed the thrift industry's main trade group while becoming one of its most respected boosters, died Sunday after a heart attack. He was 75. Shane was stricken at home and was rushed to Mission Hospital Regional Medical Center in Mission Viejo where he was pronounced dead. Services will be at 11 a.m. today at Harbor Lawn-Mt. Olive Memorial Park & Mortuary in Costa Mesa.
Advertisement
BUSINESS
June 30, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Federal thrift regulators and the FBI have given top priority to investigations of seven failed Orange County and Los Angeles savings and loans as part of the Bush Administration's new coordinated effort to push for criminal prosecutions in thrift fraud cases. A surprise among the seven targeted S&Ls is Mercury Savings & Loan in Huntington Beach, where there was no previous hint of a criminal probe. Regulators seized the insolvent S&L on Feb.
BUSINESS
November 24, 1987 | JAMES S. GRANELLI.
In a cryptic statement issued Monday, William A. Shane, the son of Mercury Savings & Loan Assn. Chairman Leonard Shane, said he will resign his position as president of the institution "at a mutually convenient time" in the "near future." William Shane, 36, who has been president of the Huntington Beach-based S&L for 14 months and an employee for 13 years, said in an interview that he had no specific plans but wanted "to pursue other ideas" in or out of the industry.
BUSINESS
April 4, 1990 | From Staff and Wire Reports
Leonard Shane, the former chairman and chief executive of Mercury Savings & Loan, filed a lawsuit Tuesday against the troubled Huntington Beach thrift and the federal agency that runs it, seeking $850,000 in retirement benefits. Shane, ousted Feb. 23 when regulators seized the insolvent institution, claims in a federal court suit in Los Angeles that he is one of "certain key employees" who became entitled to retirement plan benefits.
BUSINESS
May 22, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Leonard Shane, former chairman and chief executive of the failed Mercury Savings & Loan, said Monday that he is quitting as a $100,000-a-year consultant to the thrift because regulators who seized the institution three months ago haven't used his services. Miffed that he hasn't been called on and embarrassed that he's getting paid for doing nothing, Shane sent a letter to the regulator managing Mercury asking that his consulting agreement be terminated.
NEWS
February 24, 1990 | JAMES BATES and JAMES S. GRANELLI, TIMES STAFF WRITERS
Two of Southern California's best-known thrifts--Mercury Savings in Huntington Beach and Imperial Savings in San Diego--were seized Friday by government regulators in a further crackdown on the nation's largest troubled savings and loans. The seizure of the ailing thrifts had been anticipated after both were put under severe operating restrictions last month as their financial conditions worsened.
BUSINESS
February 17, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Beleaguered Mercury Savings & Loan, insolvent and operating under severe regulatory restrictions, said Friday that it is laying off 70 employees, or 10% of its staff, effective immediately. The Huntington Beach thrift, which has reduced assets 20% in the last year to about $2 billion, said the departures included its chief financial officer, Ronald Hansen, who resigned after seven years in that position. Mercury Chairman Leonard Shane said the S&L has not decided yet if Hansen will be replaced.
BUSINESS
February 14, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Leonard Shane, chairman and managing officer of Mercury Savings & Loan since its founding 26 years ago, relinquished part of his duties Tuesday when the beleaguered Huntington Beach-based S&L named a new managing officer to run daily operations. Michael A. Durkin, hired in November as the institution's senior executive vice president and chief lending officer, was promoted to the positions of president and chief executive, or managing officer, effective immediately.
BUSINESS
June 29, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Leonard Shane, ousted by federal thrift regulators as chairman of the failed Mercury Savings & Loan, struck out Thursday at the government agents for their "pressures and bullying and abuse" toward the industry, his Huntington Beach thrift and himself. In his first public speech since the Feb.
BUSINESS
May 22, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Leonard Shane, former chairman and chief executive of the failed Mercury Savings & Loan, said Monday that he is quitting as a $100,000-a-year consultant to the thrift because regulators who seized the institution three months ago haven't used his services. Miffed that he hasn't been called on and embarrassed that he's getting paid for doing nothing, Shane sent a letter to the regulator managing Mercury asking that his consulting agreement be terminated.
BUSINESS
April 4, 1990 | From Staff and Wire Reports
Leonard Shane, the former chairman and chief executive of Mercury Savings & Loan, filed a lawsuit Tuesday against the troubled Huntington Beach thrift and the federal agency that runs it, seeking $850,000 in retirement benefits. Shane, ousted Feb. 23 when regulators seized the insolvent institution, claims in a federal court suit in Los Angeles that he is one of "certain key employees" who became entitled to retirement plan benefits.
NEWS
February 24, 1990 | JAMES BATES and JAMES S. GRANELLI, TIMES STAFF WRITERS
Two of Southern California's best-known thrifts--Mercury Savings in Huntington Beach and Imperial Savings in San Diego--were seized Friday by government regulators in a further crackdown on the nation's largest troubled savings and loans. The seizure of the ailing thrifts had been anticipated after both were put under severe operating restrictions last month as their financial conditions worsened.
BUSINESS
February 24, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Only a month ago, Leonard Shane was basking in what he called the "capstone" of his career, a testimonial dinner honoring his 50 years of philanthropic service to the community and the causes he believes in. More than a dozen speakers paid their respects to a man who had given unselfishly of his time and money to many causes, ranging from the Orange County Philharmonic to Israel's Ben Gurion University of the Negev.
BUSINESS
February 11, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
A short, rotund man with a heart--a friend said as big as himself--Leonard Shane is a gregarious, fun-loving raconteur, a family man and a generous contributor to a variety of charitable groups. He also is a sharp-tongued advocate and stubborn manager who acknowledges that some of his own executives cower at his command. To many Republicans, he is the only liberal Democrat they like.
BUSINESS
January 20, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Mercury Savings & Loan, struggling for a year to curb losses, said it was ordered Friday by federal regulators in San Francisco to halt all lending and investment activities. The order does not affect the S&L's routine customer deposits nor its $3-billion loan-servicing portfolio. The S&L also can fill pending commitments for loans and investments, but no new loans or investments can be made.
BUSINESS
February 17, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Beleaguered Mercury Savings & Loan, insolvent and operating under severe regulatory restrictions, said Friday that it is laying off 70 employees, or 10% of its staff, effective immediately. The Huntington Beach thrift, which has reduced assets 20% in the last year to about $2 billion, said the departures included its chief financial officer, Ronald Hansen, who resigned after seven years in that position. Mercury Chairman Leonard Shane said the S&L has not decided yet if Hansen will be replaced.
BUSINESS
February 14, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Leonard Shane, chairman and managing officer of Mercury Savings & Loan since its founding 26 years ago, relinquished part of his duties Tuesday when the beleaguered Huntington Beach-based S&L named a new managing officer to run daily operations. Michael A. Durkin, hired in November as the institution's senior executive vice president and chief lending officer, was promoted to the positions of president and chief executive, or managing officer, effective immediately.
Los Angeles Times Articles
|