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BUSINESS
November 9, 1992 | CHRIS KRAUL, SAN DIEGO COUNTY BUSINESS EDITOR
As leaders of what remains of the nation's savings and loan associations meet here this week, they are assessing a host of issues that confront their industry--the economy, regulation, community reinvestment, affordable housing and others. Clearly the main concern on the minds of the delegates of the Savings & Community Bankers of America is what the Clinton Administration will do to get the economy--particularly the housing industry--back in gear.
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BUSINESS
November 9, 1992 | CHRIS KRAUL, SAN DIEGO COUNTY BUSINESS EDITOR
As leaders of what remains of the nation's savings and loan associations meet here this week, they are assessing a host of issues that confront their industry--the economy, regulation, community reinvestment, affordable housing and others. Clearly the main concern on the minds of the delegates of the Savings & Community Bankers of America is what the Clinton Administration will do to get the economy--particularly the housing industry--back in gear.
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BUSINESS
August 17, 1992 | JAMES BATES
Just in time for this week's Republican convention comes a report to marketing executives from the Socio-Economic Research Institute in New York that the "family values" theme promoted by Vice President Dan Quayle is a fad, not a serious trend. The institute notes that the "family values" theme does present marketing opportunities, such as the advertising campaign Volvo has launched around it. Officials advise marketers that they can exploit the theme so long as they don't take sides.
BUSINESS
August 17, 1994 | From Associated Press
Construction of new homes and apartments rebounded slightly in July, but analysts said the latest increase in interest rates will further brake an already slowing housing market. "It will definitely have a chilling effect," said Tommy Thompson, president of the National Assn. of Home Builders, referring to the rate increase engineered by the Federal Reserve Board on Tuesday, the fifth this year. Shortly after the Commerce Department reported that housing starts rose 4.
BUSINESS
February 17, 1994 | From Associated Press
Home building took its steepest slide in a decade last month, dragged down by the harsh winter and the Northridge earthquake. Analysts said residential construction will remain stuck this month because of lingering severe weather but will regain its footing as spring approaches. Housing starts skidded 17.6% in January to a seasonally adjusted annual rate of 1.29 million units, the Commerce Department reported Wednesday.
BUSINESS
December 14, 1993 | From Associated Press
Profits earned by the nation's thrift industry declined 40% from July through September because of a $500-million, onetime write-off by two Northeast institutions, the government said Monday. But Jonathan L. Fiechter, acting director of the Office of Thrift Supervision, said, "Despite the impact of the goodwill write-off on earnings, the thrift industry remains healthy." Fiechter declined to name the institutions but said both remain in good shape.
BUSINESS
December 31, 1994 | From Associated Press
Sales of new homes tumbled in November for the first time in five months, and analysts predicted further declines in 1995 as higher interest rates erode consumer demand. Sales in the West--including California--fell 16.1% to a 177,000 annual rate. "It's clear this is the beginning," said economist David Lereah of the Mortgage Bankers of America. "The housing sector is slowing."
BUSINESS
September 17, 1992 | From Times Staff and Wire Reports
Profits at the nation's savings and loans fell 17.5% to $1.27 billion in the second quarter despite huge gains from lower interest rates, the government said Wednesday. But the industry still earned a record $2.81 billion for the first half of this year, surpassing a previous high of $2.7 billion for the six months that ended March 30, 1986. California's 111 private sector thrifts enjoyed a big boost in earnings, with net income of $94.
BUSINESS
March 11, 1994 | From Associated Press
Profits of savings and loans slipped slightly last year--to $5 billion from $5.1 billion the year before--but it was a far cry from the industry's bad old days of multibillion-dollar losses. It was the third consecutive year of profits for the industry after four years--1987 through 1990--that saw it hemorrhage more than $30 billion. The 1,669 institutions that have managed to survive the S&L crisis earned profits of $1.
BUSINESS
November 10, 1992 | From Associated Press
The acting chairman of the Federal Deposit Insurance Corp. said Monday that he has assured the Clinton transition team that bank failures anticipated next month will not jolt the economy. Andrew C. Hove Jr., who took over at the FDIC after the death of Chairman William Taylor in August, said he told a senior Clinton adviser that about 40 banks with $10 billion to $15 billion in assets could be subject to seizure starting Dec. 19.
BUSINESS
January 4, 1994 | CHRIS KRAUL, TIMES STAFF WRITER
Great Western Bank said Monday that it may lay off as many as two thirds of the 1,700 new employees inherited when it acquired the failed Homefed Bank from the federal government last month. Great Western, the nation's second-largest thrift, also said it has closed 13 branches and will close another 57 by the end of next month. Most of the closures will come from the 119 Homefed branches that Chatsworth-based Great Western acquired for $151 million.
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