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CALIFORNIA | LOCAL
November 5, 1999 | JOHNATHON E. BRIGGS, TIMES STAFF WRITER
Capping two days of high-profile testimony by Eli Broad, attorneys for the billionaire home builder fended off as "misleading" the characterizations made earlier in court that he had given inconsistent testimony about a partnership deal that went sour. Broad's veracity has become a point of contention during a trial in which his company, SunAmerica, is accusing former partner Jeffrey M. Gault of breach of contract.
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BUSINESS
January 31, 1999 | DEBORA VRANA, TIMES STAFF WRITER
By the time they arrived at Key Largo's exclusive Ocean Reef Club earlier this month, the top executives of the freshly merged SunAmerica and AIG knew the game plan. And it didn't involve another round of corporate golf. While many mega-mergers of the last few years have been marked by months of wrangling and jockeying for power, the two days in January were designed to briskly map a blueprint for the $18.3-billion melding of Los Angeles-based retirement-savings specialist SunAmerica Inc.
CALIFORNIA | LOCAL
November 3, 1999 | JOHNATHON E. BRIGGS, TIMES STAFF WRITER
He's one of the nation's 50 wealthiest men, a prominent philanthropist and a land baron whose empire stretches farther than Southern California itself. He tried to bring pro football back to Los Angeles, counts the mayor among his confidants and regularly hosts Bill Clinton when the president comes to town. But today, he'll do what thousands of ordinary people do at the Los Angeles Superior Courthouse: raise his right hand, swear to tell the truth and take the stand to settle an old score.
BUSINESS
August 21, 1998 | WALTER HAMILTON, TIMES STAFF WRITER
Los Angeles-based annuity marketer SunAmerica on Thursday agreed to a $16.5-billion buyout by insurance powerhouse American International Group, a deal that some analysts say could achieve something accomplished by surprisingly few mergers: the uniting of two companies whose businesses actually complement each other. Many companies promise such "synergies" to justify the hefty price tags of their deals.
BUSINESS
November 20, 1996 | Times Staff and Wire Reports
Los Angeles-based SunAmerica Inc.'s money-management group is launching four mutual funds that are jointly managed by a team of portfolio managers from different firms. SunAmerica Asset Management Corp. said its aggressive-growth fund, for instance, will be overseen by a team of managers from Janus Capital Corp., SunAmerica and Warburg, Pincus Counsellors Inc. The other SunAmerica funds will focus on investing in mid-cap growth stocks, value stocks and international stocks.
BUSINESS
July 25, 1995 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
SunAmerica Inc. reported record quarterly earnings Monday in a performance that Chairman and Chief Executive Eli Broad attributed partly to an expanded sales force and a national advertising campaign, but also to increasing consumer concerns about retirement savings. Los Angeles-based Sun, which sells fixed- and variable-rate annuity products, mainly for retirement accounts, logged net income of $48.3 million in the third fiscal quarter ended June 30, up 15% from the $42.
BUSINESS
August 10, 1994 | JOHN O'DELL, TIMES STAFF WRITER
An Irvine man who worked as a stockbroker in Orange County until late 1989 signed a consent agreement Tuesday in a civil fraud case brought by the Securities and Exchange Commission. The SEC alleged in a civil suit filed Tuesday in U.S.
CALIFORNIA | LOCAL
November 5, 1999 | JOHNATHON E. BRIGGS, TIMES STAFF WRITER
Capping two days of high-profile testimony by Eli Broad, attorneys for the billionaire home builder fended off as "misleading" the characterizations made earlier in court that he had given inconsistent testimony about a partnership deal that went sour. Broad's veracity has become a point of contention during a trial in which his company, SunAmerica, is accusing former partner Jeffrey M. Gault of breach of contract.
BUSINESS
January 31, 1999 | DEBORA VRANA, TIMES STAFF WRITER
By the time they arrived at Key Largo's exclusive Ocean Reef Club earlier this month, the top executives of the freshly merged SunAmerica and AIG knew the game plan. And it didn't involve another round of corporate golf. While many mega-mergers of the last few years have been marked by months of wrangling and jockeying for power, the two days in January were designed to briskly map a blueprint for the $18.3-billion melding of Los Angeles-based retirement-savings specialist SunAmerica Inc.
BUSINESS
November 24, 1998
Los Angeles-based SunAmerica Inc., a financial services company specializing in retirement savings, said Jay Wintrob has been elected chief operating officer. Wintrob, 41, also will remain vice chairman of SunAmerica, a position he has held since 1995. Most recently, Wintrob played a key role in SunAmerica's pending merger with New York-based American International Group Inc. The merger was approved last week by shareholders of both firms.
BUSINESS
August 21, 1998 | PAUL J. LIM, TIMES STAFF WRITER
At the core of American International Group's decision Thursday to acquire SunAmerica is a retirement savings vehicle that few truly understand, many scorn, yet millions have purchased: the variable annuity. "The annuity business is at the heart of SunAmerica's retirement savings business," noted Michael Ancell, financial services analyst at brokerage Edward Jones in St. Louis. "And it's the annuity business that AIG wanted."
NEWS
August 21, 1998 | JAMES FLANIGAN, TIMES SENIOR ECONOMICS EDITOR
American International Group's proposed $16.5-billion acquisition of SunAmerica Inc., a deal announced Thursday that would create a global force in sales of retirement savings products, puts a spotlight on Eli Broad, one of Southern California's most prominent civic and business leaders. Broad, already one of the region's wealthiest individuals through his ownership of 10% of SunAmerica stock, will become even richer.
BUSINESS
August 21, 1998 | WALTER HAMILTON, TIMES STAFF WRITER
Los Angeles-based annuity marketer SunAmerica on Thursday agreed to a $16.5-billion buyout by insurance powerhouse American International Group, a deal that some analysts say could achieve something accomplished by surprisingly few mergers: the uniting of two companies whose businesses actually complement each other. Many companies promise such "synergies" to justify the hefty price tags of their deals.
BUSINESS
July 7, 1998
For many investors, fixed-rate annuities are like blind trusts. Investors enjoy tax and insurance benefits and can see the final output or result--usually in the form of a guaranteed payment that they receive--but they typically don't have any idea what investments are producing the income. Fixed annuities typically pay investors a return based on interest rates and the time period payments are made, which could be over just a few years or a lifetime.
CALIFORNIA | LOCAL
November 3, 1999 | JOHNATHON E. BRIGGS, TIMES STAFF WRITER
He's one of the nation's 50 wealthiest men, a prominent philanthropist and a land baron whose empire stretches farther than Southern California itself. He tried to bring pro football back to Los Angeles, counts the mayor among his confidants and regularly hosts Bill Clinton when the president comes to town. But today, he'll do what thousands of ordinary people do at the Los Angeles Superior Courthouse: raise his right hand, swear to tell the truth and take the stand to settle an old score.
BUSINESS
July 7, 1998
For many investors, fixed-rate annuities are like blind trusts. Investors enjoy tax and insurance benefits and can see the final output or result--usually in the form of a guaranteed payment that they receive--but they typically don't have any idea what investments are producing the income. Fixed annuities typically pay investors a return based on interest rates and the time period payments are made, which could be over just a few years or a lifetime.
BUSINESS
November 20, 1996 | Times Staff and Wire Reports
Los Angeles-based SunAmerica Inc.'s money-management group is launching four mutual funds that are jointly managed by a team of portfolio managers from different firms. SunAmerica Asset Management Corp. said its aggressive-growth fund, for instance, will be overseen by a team of managers from Janus Capital Corp., SunAmerica and Warburg, Pincus Counsellors Inc. The other SunAmerica funds will focus on investing in mid-cap growth stocks, value stocks and international stocks.
BUSINESS
July 25, 1995 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
SunAmerica Inc. reported record quarterly earnings Monday in a performance that Chairman and Chief Executive Eli Broad attributed partly to an expanded sales force and a national advertising campaign, but also to increasing consumer concerns about retirement savings. Los Angeles-based Sun, which sells fixed- and variable-rate annuity products, mainly for retirement accounts, logged net income of $48.3 million in the third fiscal quarter ended June 30, up 15% from the $42.
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