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San Jacinto Savings Loan Association

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BUSINESS
December 6, 1989 | DOUGLAS FRANTZ, TIMES STAFF WRITER
Investigators from the Justice Department and the Securities and Exchange Commission are examining links between indicted financier Michael Milken and a circle of failed and troubled savings and loans, including Lincoln Savings & Loan in Irvine, sources close to the investigations said Tuesday.
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BUSINESS
April 4, 1992
Had the stars of "The Silence of the Lambs" been two people we'd never heard of, the movie would have been dismissed as a smarmy quasi-slasher flick. Instead, it steals the Oscar from four movies of very different types, all of which were very superior. But what is more offensive than the award is Jonathan Demme's proclamation of "Lambs" as a moral movie. This is Hollywood-speak at its most artful.
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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
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
March 22, 1991 | John O'Dell, Times staff writer
Builder James M. Peters, whose once fabulously successful J.M. Peters Co. has been pummeled by the housing recession and the thrift-industry debacle, has assured shareholders that he will remain with the firm at least until federal regulators find a buyer for the 86% of the company once owned by insolvent San Jacinto Savings in Houston. The Peters Co. has been liquidating unsold inventory and raw land at distress-sale prices to pay off nearly $100 million in overdue construction loans.
BUSINESS
January 30, 1991 | James S. Granelli/Times staff writer
Detroit Hotel Seized in S&L Failure Now Has 'Positive Cash Flow' The Pontchartrain Hotel, once a major and controversial investment for Lincoln Savings & Loan, may prove to be less of a burden on U.S. taxpayers than first thought. The downtown Detroit hotel is now producing "positive cash flow," which means it is able to pay its current debts from the income it generates. Thrift regulators are not saying how much past debt--accumulated during an extensive renovation project--is still owed.
BUSINESS
December 9, 1989 | MICHAEL FLAGG, TIMES STAFF WRITER
Home builder J.M. Peters Co. Inc. reported sharply lower earnings Friday for its third quarter as the market for new homes in Southern California slowed down. Meanwhile, a local stock analyst said a sale of the Newport Beach company could come as soon as the end of the year. Peters said earnings dropped to $5.7 million for the quarter ending Nov. 30, compared to $8.5 million last year.
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.
BUSINESS
March 2, 1990 | JOHN O'DELL, TIMES STAFF WRITER
Breaking months of silence on the issue, J.M. Peters Co. said Thursday that its founder, chairman and namesake, James M. Peters, is interested in acquiring San Jacinto Savings Assn.'s 86% stake in the home-building company. While company officials would not elaborate, an analyst said Peters has hired an investment banker to help secure financing for the possible buyout. Peters made $40 million selling the company to Houston-based San Jacinto in 1985.
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.
BUSINESS
March 22, 1991 | John O'Dell, Times staff writer
Builder James M. Peters, whose once fabulously successful J.M. Peters Co. has been pummeled by the housing recession and the thrift-industry debacle, has assured shareholders that he will remain with the firm at least until federal regulators find a buyer for the 86% of the company once owned by insolvent San Jacinto Savings in Houston. The Peters Co. has been liquidating unsold inventory and raw land at distress-sale prices to pay off nearly $100 million in overdue construction loans.
BUSINESS
January 30, 1991 | James S. Granelli/Times staff writer
Detroit Hotel Seized in S&L Failure Now Has 'Positive Cash Flow' The Pontchartrain Hotel, once a major and controversial investment for Lincoln Savings & Loan, may prove to be less of a burden on U.S. taxpayers than first thought. The downtown Detroit hotel is now producing "positive cash flow," which means it is able to pay its current debts from the income it generates. Thrift regulators are not saying how much past debt--accumulated during an extensive renovation project--is still owed.
BUSINESS
December 4, 1990 | MICHAEL FLAGG, TIMES STAFF WRITER
The federal government last week acquired another piece of flotsam from the wreckage of the thrift industry: J.M. Peters Co. Inc., a local home builder owned mostly by San Jacinto Savings & Loan Assn. Federal regulators seized San Jacinto on Friday, and on Monday the government said it would probably try to sell the home builder, which San Jacinto put up for sale more than a year ago. An official from the federal Resolution Trust Corp.
BUSINESS
March 2, 1990 | JOHN O'DELL, TIMES STAFF WRITER
Breaking months of silence on the issue, J.M. Peters Co. said Thursday that its founder, chairman and namesake, James M. Peters, is interested in acquiring San Jacinto Savings Assn.'s 86% stake in the home-building company. While company officials would not elaborate, an analyst said Peters has hired an investment banker to help secure financing for the possible buyout. Peters made $40 million selling the company to Houston-based San Jacinto in 1985.
BUSINESS
April 4, 1992
Had the stars of "The Silence of the Lambs" been two people we'd never heard of, the movie would have been dismissed as a smarmy quasi-slasher flick. Instead, it steals the Oscar from four movies of very different types, all of which were very superior. But what is more offensive than the award is Jonathan Demme's proclamation of "Lambs" as a moral movie. This is Hollywood-speak at its most artful.
BUSINESS
January 18, 1990 | JOHN O'DELL, TIMES STAFF WRITER
A bankruptcy reorganization plan filed Wednesday by Southmark Corp. appears to give the Dallas real estate and financial services concern new impetus to sell its majority stake in J.M. Peters Co., the Newport Beach residential builder. The plan does not specifically address the disposition of the 87% share of J.M. Peters owned by Southmark's thrift subsidiary, San Jacinto Savings Assn.
BUSINESS
January 19, 1990 | John O'Dell, Times staff writer
The J.M. Peters Co. may be a favorite of high-end home buyers in Orange County, but it appears to rank way down the list of industry analysts Barbara Allen and Alan Goldman. In a recent report, Allen and Goldman savaged Peters' majority owner, financially ailing San Jacinto Savings Assn. in Houston, for refusing to divulge information about the future of the publicly traded Newport Beach home builder. The Kidder, Peabody & Co. analysts weren't all that nice to company president and namesake J.M.
BUSINESS
January 18, 1990 | JOHN O'DELL, TIMES STAFF WRITER
A bankruptcy reorganization plan filed Wednesday by Southmark Corp. appears to give the Dallas real estate and financial services concern new impetus to sell its majority stake in J.M. Peters Co., the Newport Beach residential builder. The plan does not specifically address the disposition of the 87% share of J.M. Peters owned by Southmark's thrift subsidiary, San Jacinto Savings Assn.
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