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Lloyd C Lubensky

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BUSINESS
January 28, 1989 | JAMES F. PELTZ, Times Staff Writer
Van Nuys businessman Lloyd C. Lubensky, who paid a mere $100,000 for 34% of struggling Wheeling-Pittsburgh Steel Corp. in December, 1986, said Friday he sold his stake for $14 million to the investment firm Goldman, Sachs & Co. Lubensky, 66, was chairman of Wheeling-Pittsburgh, but officials at the company's Wheeling, W.Va., headquarters said that he was resigning immediately. Lubensky became chairman of the eighth-largest U.S.
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BUSINESS
January 28, 1989 | JAMES F. PELTZ, Times Staff Writer
Van Nuys businessman Lloyd C. Lubensky, who paid a mere $100,000 for 34% of struggling Wheeling-Pittsburgh Steel Corp. in December, 1986, said Friday he sold his stake for $14 million to the investment firm Goldman, Sachs & Co. Lubensky, 66, was chairman of Wheeling-Pittsburgh, but officials at the company's Wheeling, W.Va., headquarters said that he was resigning immediately. Lubensky became chairman of the eighth-largest U.S.
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BUSINESS
January 11, 1987
Directors of the ailing Wheeling-Pittsburgh Steel accepted the resignation of Chairman Allen E. Paulson but did not elect a successor. Van Nuys businessman Lloyd C. Lubensky, who bought a controlling 34% interest from Paulson on Dec. 31, had been considered a likely replacement.
BUSINESS
April 3, 1987 | DANIEL AKST
In a new round of board room tremors at Wheeling-Pittsburgh Steel, the ailing concern said Thursday that its president and general counsel both resigned in a dispute over what the chairman implied might be unauthorized pay raises. Van Nuys businessman Lloyd C.
BUSINESS
February 12, 1987 | DANIEL AKST, Times Staff Writer
Wheeling-Pittsburgh Steel, struggling to reorganize under federal bankruptcy protection, said its fourth quarter loss widened to $214 million, and it named a committee of three to act as chairman. The changes at the company's helm follow the abrupt exit of former chairman Allen E. Paulson, and vest power in two men associated with him. The committee will be headed by Savannah, Ga., lawyer John P. Innes II, who is a former general counsel to Gulfstream Aerospace, which Paulson founded.
BUSINESS
January 6, 1987 | DANIEL AKST
Industrialist Allen E. Paulson said Monday that he resigned as chairman of Wheeling-Pittsburgh Steel Corp. after selling his 34.2% interest to Lloyd C. Lubensky, president of American Jet Industries in Van Nuys. Paulson, 64, said he paid about $50 million for the stock "several years ago" but sold it Dec. 31 at a huge loss to offset capital gains for tax purposes. He wouldn't disclose the selling price but said it was substantially less than the $7.75 per share, or $13.
BUSINESS
March 19, 1987 | DANIEL AKST
Van Nuys businessman Lloyd C. Lubensky has taken over as chairman of Wheeling-Pittsburgh Steel in yet another management shake-up at the Pittsburgh-based company, which is operating under bankruptcy court protection. Wheeling-Pittsburgh, which describes itself as the nation's eighth-largest steelmaker, also said George A. Ferris resigned as vice chairman and CEO, a post he had held since September, 1985. A company spokesman said Ferris, 70, wanted to spend more time with his family.
BUSINESS
January 13, 1987 | DANIEL AKST, Times Staff Writer
Competitors say Lloyd C. Lubensky never pays retail, but even they may be astonished by the price he got Dec. 31 on a 34.2% stake in ailing Wheeling-Pittsburgh Steel. Lubensky disclosed Monday that he paid $100,000 cash, according to records filed with the Securities and Exchange Commission. He bought the shares from a man who paid $50 million to accumulate them in 1983 and 1984.
BUSINESS
January 13, 1987 | DANIEL AKST, Times Staff Writer
According to one admiring competitor, Lloyd C. Lubensky never pays retail. In keeping with his background in the chancy, competitive business of buying and selling surplus airplane parts, Lubensky is said to be a bargain hunter extraordinaire. The 64-year-old Van Nuys executive proved that when he bought a 34.2% stake in ailing Wheeling-Pittsburgh Steel on Dec. 31 for the fire-sale price of just $100,000--from a man who paid $50 million to accumulate the same stake in 1983 and 1984.
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