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BUSINESS
November 23, 1994
New Investor in Area: Realty Investment Co., a large East Coast real estate investment firm, has opened an Irvine office with plans to buy up to $100 million worth of property in 1995. John Bernard, manager of the firm's California office, said he thinks Southern California is "at or near the bottom of the trough. The area has been on its knees for some time now, but I think its ready to shake itself off." Formed in 1951, the Silver Spring, Md.
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BUSINESS
November 23, 1994
New Investor in Area: Realty Investment Co., a large East Coast real estate investment firm, has opened an Irvine office with plans to buy up to $100 million worth of property in 1995. John Bernard, manager of the firm's California office, said he thinks Southern California is "at or near the bottom of the trough. The area has been on its knees for some time now, but I think its ready to shake itself off." Formed in 1951, the Silver Spring, Md.
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REAL ESTATE
June 30, 1985
Paramount Construction Management Inc., which assists owners and developers in planning and building projects, has been formed as a subsidiary of Paramount Energy Inc. (holding company for Macco Constructors Inc.) with offices in a new building at 5001 Airport Plaza Drive, Long Beach. Corwin P. Vansant, a registered engineer, is president, and Gregory A. Parker, a registered architect, is vice president, in charge of managing company operations. WZMH Group Inc. WZMH Group Inc.
CALIFORNIA | LOCAL
January 29, 1988
A Century City real estate firm is suing the former owners and sub-lessors of two Avenue of the Stars high-rises, alleging that they fraudulently concealed asbestos contamination at the buildings. Rub Realty and Investment Co. Inc. filed suit in Santa Monica Superior Court against R&B Commercial Management Co., the former owners of the buildings at 1900 and 1901 Avenue of the Stars, along with sub-lessors Kors, Marlar, Savage & Associates and RBCB Associates Ltd.
BUSINESS
March 3, 1988 | AL DELUGACH, Times Staff Writer
A few days before Christmas, real estate syndicator John A. Wojcicki left his Newport Beach corporate offices, telling employees that he was going on vacation. He instructed his staff not to open his mail while he was gone. Shortly after Christmas, and again in early January, he telephoned employees and associates and asked about business. But he did not give a forwarding address or a telephone number.
BUSINESS
April 10, 1985 | JOHN O'DELL
Fullerton real estate broker Carleton G. Clor has been elected chairman of Valencia Bancorp and its financially troubled subsidiary, Valencia Bank. Clor, a founding director of the Santa Ana banking company, replaces Valencia founder Ray L. Smith. Clor's appointment comes one day after the bank announced Smith's April 5 retirement, a realignment of bank management and layoffs of 15% of its work force.
CALIFORNIA | LOCAL
August 15, 1986 | JEFF ROWE, Jeff Rowe is a freelance writer
Two Orange County businessmen have been charged with felony grand theft and conspiracy in a multimillion-dollar loan fraud scheme involving five financial institutions, Ventura County authorities said. The charges, filed by the Ventura County district attorney's office, allege that Steven William Hughes, 34, of Laguna Niguel and Robert Otto Potter, 51, of Laguna Hills defrauded four S&Ls and a mortgage lender of at least $1.
BUSINESS
October 5, 1997
William D. Schmidt has joined the board of Oakley Inc., a Foothill Ranch designer and manufacturer of eyewear and athletic equipment, increasing the number of directors to seven. Schmidt is vice president of worldwide sports marketing for Quaker Oats Co.'s Gatorade brand. Before he joined Quaker in 1984 as director of sports marketing, he was vice president of sports for the 1984 Los Angeles Olympic Organizing Committee, managing eight sports and 63 training sites. * John L.
BUSINESS
May 17, 1989 | GREGORY CROUCH, Times Staff Writer
Orange County was the only area in California to post a decline in home sales during the first quarter of 1989, a trade group reported Tuesday, providing evidence that the frenzied seller's market of the last year may have come to an end here. The county's median house price jumped to $237,900 during the first 3 months of the year, according to the National Assn. of Realtors. Orange County ranked as the nation's second most expensive housing market, behind the San Francisco Bay area's $243,900 median price.
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