September 6, 1998 |
One of Wall Street's oldest maxims is simply, "Don't fight the tape." It means that, when a massive wave of emotion--be it panic or euphoria--hits the stock market, there's no use going against the trend, because it is certain to sweep up everything in its path. Amid the worst U.S.
CALIFORNIA | LOCAL
September 15, 1998 |
A principal in one of the San Fernando Valley's largest real estate Ponzi schemes on record was sentenced Monday to four years in prison for defrauding investors out of nearly $37 million, the district attorney's office said. Stanley Glickman, 59, who faced up to 10 years in prison for his role in the scheme, was also ordered to pay $36,957,800 restitution to his victims. From 1970 to 1991, Glickman and his father-in-law, Elliot Fine, ran Property Mortgage Co. in Sherman Oaks.
October 30, 1990 |
If the stock market were an elevator, Orange County's half-dozen publicly traded building and real estate finance companies would be in the basement. J.M. Peters Co., the Newport Beach builder of posh move-up homes for the upscale Southland buyer, is a case in point. Peters' stock plummeted 27% Monday for no apparent reason other than investor skittishness. It has lost 84.5% of its value so far this year, falling to an all-time low of $1.63 a share from a high of $10.
December 9, 1993 |
With a little suspension of disbelief, a basic bout of amnesia or 42 beers, the Channel Islands Harbor becomes the Channel Islands Bayou. Forty-two beers is still probably cheaper than a flight to Louisiana for some authentic Cajun music, but even more affordable is a free Acadiana gig tonight at the Lobster Trap Restaurant.
May 24, 1992 |
The '80s aren't just over; they're finished. Donald Trump, Leona Helmsley, Michael Milken; one by one, the icons of the Age of Greed have trooped offstage: broke, dis credited, jailed. Now the buildings are going bankrupt. The Canadian bankruptcy filing of Olympia & York, the world's largest and, until recently, supposedly its richest property developer, is plunging an already troubled commercial real-estate market into chaos.
CALIFORNIA | LOCAL
April 30, 1995 |
Cradled by rolling hills in the north county community whose name it bears, the Agua Dulce Air Park has been controversial for much of its 36 years. Many of Agua Dulce's 2,100 residents consider the site a noise nuisance at the very least. At worst, they say, noting the elementary school a mile away, it is an aviation tragedy waiting to happen.
March 14, 2009 |
The Obama administration's budget threatens to cut a benefit many Americans view as practically a right -- the mortgage interest tax deduction -- and powerful real estate interests are fighting back. The move would affect only households earning $250,000 or more, but opponents say it could prolong the housing crisis by slowing already torpid home sales and deal another blow to home values ravaged by the market crash.
March 6, 1989 |
Mary Beth Whitehead-Gould, four months pregnant with her fifth child, throws up in the bathroom as the sun goes down. "Morning sickness, day and night, with all my babies," she says when she's finished. "It's a cross I have to bear." Her fourth child, 9-month-old Austin, crawls on the kitchen floor with the Shetland sheep dogs. Her first child, 14-year-old Ryan, skateboards in the street outside.
February 7, 2013 |
The “Friends” gang might have painted the walls a cheery yellow and brought in lots of candy-colored furniture. The “Gossip Girl” brats would have made fun of anyone poor enough to live there, and Carrie probably would have been too horrified to allow her “Sex and the City” Manolos to touch the scratched floors. But the unrenovated Brooklyn brownstone where TV's modern-day Sherlock Holmes rests his head and solves some of the Big Apple's twistiest crimes hits some amusing -- and timely -- decorating notes.
January 15, 1995 |
At this time last year, when Aaron Bacon was 16, his young life was in tumult, though it was still a life. A funny, endearing kid for most of his privileged childhood, Aaron had changed, within a matter of months, into a testy, withdrawn stranger. A gifted kid who had loved to write poetry in a lyrical mode, he was ditching school and lying about it. As his grades slipped, his writing lost its literary luster. More and more, his poems read like death-rock lyrics from the backs of old vinyl-album covers.