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NEWS
December 8, 1994 | MARTHA GROVES, TIMES STAFF WRITER
Former San Jose city officials who weathered that city's bond fiasco a decade ago find it utterly amazing that Orange County has been brought to its knees by reverse repurchase agreements--the same high-risk investments that nearly bankrupted San Jose. "It's stunning to me that this could happen in 1994 in view of that experience," said Jerry Newfarmer, a Cincinnati-based management consultant who was San Jose's city manager during the crisis.
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BUSINESS
June 18, 1987
San Jose settled with Drexel Burnham Lambert over a suit the city filed to recoup a $60-million bond market loss, according to the city attorney's office. The city will receive $850,000 under the settlement with the firm, one of 13 investment brokers the city sued three years ago. Salomon Bros. agreed last October to pay $250,000.
NEWS
May 28, 1992 | JENIFER WARREN, TIMES STAFF WRITER
It will cost each household about $2.90 a month--roughly the price of a Super Dog with sauerkraut. For that the people of San Jose can have their very own big league baseball team--the first-place Giants, shipped south from San Francisco, 50 miles away. Great deal, huh? It depends, of course, on your perspective.
NEWS
May 28, 1992 | JENIFER WARREN, TIMES STAFF WRITER
It will cost each household about $2.90 a month--roughly the price of a Super Dog with sauerkraut. For that the people of San Jose can have their very own big league baseball team--the first-place Giants, shipped south from San Francisco, 50 miles away. Great deal, huh? It depends, of course, on your perspective.
SPORTS
January 22, 1992 | From Staff and Wire Reports
San Jose Mayor Susan Hammer launched a campaign to win voter support for a $185-million stadium needed to bring the San Francisco Giants to San Jose. Hammer told a group of about 2,000 business and government leaders that the baseball team would be a wise investment. Meanwhile, San Francisco Supervisor Angela Alioto detailed a rival plan she hopes will keep the Giants from moving to San Jose.
NEWS
June 29, 1987
Drexel Burnham Lambert Inc., a large New York brokerage firm, has agreed to pay the city of San Jose $300,000 to settle its portion of a lawsuit stemming from the city's $60-million investment loss three years ago. The city lost the money, and for a time was in danger of not meeting its payroll and other short-term obligations, because speculative investments in the long-term bond market hampered its cash flow.
NEWS
December 8, 1994 | MARTHA GROVES, TIMES STAFF WRITER
Former San Jose city officials who weathered that city's bond fiasco a decade ago find it utterly amazing that Orange County has been brought to its knees by reverse repurchase agreements--the same high-risk investments that nearly bankrupted San Jose. "It's stunning to me that this could happen in 1994 in view of that experience," said Jerry Newfarmer, a Cincinnati-based management consultant who was San Jose's city manager during the crisis.
SPORTS
January 22, 1992 | From Staff and Wire Reports
San Jose Mayor Susan Hammer launched a campaign to win voter support for a $185-million stadium needed to bring the San Francisco Giants to San Jose. Hammer told a group of about 2,000 business and government leaders that the baseball team would be a wise investment. Meanwhile, San Francisco Supervisor Angela Alioto detailed a rival plan she hopes will keep the Giants from moving to San Jose.
NEWS
June 29, 1987
Drexel Burnham Lambert Inc., a large New York brokerage firm, has agreed to pay the city of San Jose $300,000 to settle its portion of a lawsuit stemming from the city's $60-million investment loss three years ago. The city lost the money, and for a time was in danger of not meeting its payroll and other short-term obligations, because speculative investments in the long-term bond market hampered its cash flow.
BUSINESS
June 18, 1987
San Jose settled with Drexel Burnham Lambert over a suit the city filed to recoup a $60-million bond market loss, according to the city attorney's office. The city will receive $850,000 under the settlement with the firm, one of 13 investment brokers the city sued three years ago. Salomon Bros. agreed last October to pay $250,000.
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