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San Jacinto Savings Loan Assn

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BUSINESS
August 15, 1991 | MICHAEL FLAGG, TIMES STAFF WRITER
The Texas savings and loan that owns J.M. Peters Co. said Wednesday that it has received permission from the federal government to sell its majority stake in the Newport Beach home builder. San Jacinto Savings Assn. in Houston said it has hired investment banker McFarland Dewey & Co. to help solicit bids for J.M. Peters before Sept. 30. A sale is expected before year's end. San Jacinto was taken over last year by the federal Resolution Trust Corp.
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BUSINESS
August 15, 1991 | MICHAEL FLAGG, TIMES STAFF WRITER
The Texas savings and loan that owns J.M. Peters Co. said Wednesday that it has received permission from the federal government to sell its majority stake in the Newport Beach home builder. San Jacinto Savings Assn. in Houston said it has hired investment banker McFarland Dewey & Co. to help solicit bids for J.M. Peters before Sept. 30. A sale is expected before year's end. San Jacinto was taken over last year by the federal Resolution Trust Corp.
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BUSINESS
May 17, 1992 | TED JOHNSON, SPECIAL TO THE TIMES
For many Orange County executives, 1991 was a year when their pay packages came under greater shareholder scrutiny and corporate boards were cautious in handing out cash bonuses and perks. It mirrored a trend statewide of keeping executive compensation in line with a company's financial performance. Of the top 100 county executives on the list of publicly traded companies, one-third of the officers saw their cash compensation remain unchanged or had it reduced.
BUSINESS
February 8, 1992 | From Times Staff and Wire Reports
Home-Building Company's Stock Leaps: A burst of trading Friday drove the price of J. M. Peters Co. stock to a 52-week high of $4.25 a share, up $1.50 in American Stock Exchange trading. James Peters, chairman of the Newport Beach home-building company, said he knew of no reason for the stock's activity. Analyst David Rose of Cruttenden and Co. in Newport Beach suggested that speculators may believe a sale is near of controlling interest in the company. The federal Resolution Trust Corp.
BUSINESS
March 5, 1992 | From Times Staff and Wire Reports
Kaufman & Broad Wins Right to Bid for J. M. Peters: The Los Angeles home builder said it has won the exclusive right to negotiate with the federal government to acquire controlling interest in J. M. Peters Co. Federal regulators acquired an 86% interest in the Newport Beach home building company when they seized San Jacinto Savings & Loan Assn. of Houston last year. Industry insiders said they expect negotiations to center on disposition of J. M. Peters' more than $200 million in debt.
BUSINESS
June 3, 1992 | SUSAN CHRISTIAN, TIMES STAFF WRITER
Luxury home builder J. M. Peters, a subsidiary of a failed Texas thrift, continued to ooze red ink as it posted a $57.8-million annual loss Tuesday--equal to $4.13 per share--for its fiscal year ended Feb. 29. Peters incurred a loss of $51 million, or $3.65 per share, for its fourth quarter. In the previous fiscal year, the Newport Beach-based company reported losses of $108 million for the year--$102 million of it coming in the final quarter. Revenue decreased to $184.
BUSINESS
May 18, 1994 | DEBORA VRANA, TIMES STAFF WRITER
In an ambitious move that positions J.M. Peters Co. for a recovery, the Newport Beach home builder said Tuesday it has raised $100 million through a private bond sale. J.M. Peters, like other Southern California home builders, has been hard hit by the real estate downturn. Since reporting a string of losses in the early 1990s, it has struggled to obtain badly needed capital.
BUSINESS
March 5, 1992 | JOHN O'DELL, TIMES STAFF WRITER
In a move that bolsters its new reputation as one of the West's most aggressive home-building firms, Kaufman & Broad Home Corp. said Wednesday that it has entered a preliminary agreement to acquire controlling interest in J.M. Peters Co. K&B officials were on a stock-selling trip and unavailable to elaborate on the terse announcement issued from the company's Los Angeles headquarters.
CALIFORNIA | LOCAL
October 22, 1997 | JEAN O. PASCO, SPECIAL TO THE TIMES
A controversial proposal for 708 manufactured homes on wooded hillsides in South County will return to the Planning Commission today, exactly a year after the Board of Supervisors vetoed earlier plans for the development.
BUSINESS
November 18, 1994 | DEBORA VRANA, TIMES STAFF WRITER
J.M. Peters Co. said Thursday that it has acquired a Texas home builder in a transaction worth about $14 million, a move that gives the Newport Beach company a foothold in Texas and signals a spectacular recovery for the once-beleaguered builder. Its acquisition of privately held Clark Wilson Homes in Austin will make J.M. Peters one of the top 40 home builders in the nation next year, the company projected.
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