March 24, 1998 |
A Superior Court judge has approved a $14-million settlement for educators who lost millions of dollars in retirement savings in the collapse of the Newport Beach company that handled their investments, Teachers Management & Investment Corp. Judge John C. Woolley late Friday approved a $14-million settlement with the accounting firm KPMG Peat Marwick and Comerica Bank-California. TMI previously settled for $4 million.
January 23, 1998 |
Educators who lost their retirement savings in the 1994 collapse of Teachers Management & Investment Corp. can't blame the company or its advisors for most of the losses, a receiver said Thursday. Dennis B. Schmucker of San Diego said 20,000 teachers and administrators statewide lost more than $200 million in real estate partnerships put together by TMI. Unfortunately for them, Schmucker said, "the biggest chunk of the loss was caused by the decline in the real estate market."
March 5, 1996 |
Teachers Management & Investment Corp., which is under criminal investigation over the loss of more than $100 million in teachers' retirement funds, is trying to prevent investors from cooperating with authorities. As part of the company's effort to settle a civil fraud lawsuit, TMI has proposed that the 20,000 teacher-investors statewide stop voluntarily cooperating with state and federal authorities in the criminal investigation.
September 25, 1994
Regarding the lawsuit against the present TMI management ("A Hard Investment Lesson," Sept. 19), my wife and I have been longtime investors in Teachers Management & Investment Corp. We realized even in the heady days of real estate offerings that real estate, regardless of the market, is by its very nature the least liquid of all investments. Also along with high profits and some tax write-offs there will be losses. It should be obvious to investors that 100% investment of one's retirement money into real estate is not a balanced investment portfolio.
February 22, 1985
Some nuclear fuel melted in the reactor core during the 1979 accident at Three Mile Island, scientists disclosed in Middletown, Pa. Recent studies of rubble taken from the core show that temperatures reached about 5,100 degrees Fahrenheit, said Harold Burton, TMI project manager for EG&G Idaho. Previous examinations had indicated a maximum temperature of 4,700 degrees. But Burton and officials for GPU Nuclear Corp.
February 13, 2014 |
Finally, instead of TMZ, is America saying TMI? Too much information about a celebrity? The NBC news accounts of Philip Seymour Hoffman's “secret diaries” - two volumes found in his apartment - are getting some surprising pushback. The Times' story on the NBC exclusive cites Twitter comments about the diaries - not their contents but NBC's revealing them - as “pretty tacky that anon police are offering news orgs Philip Seymour Hoffman's diary.” And so on: “simply nauseatingly intrusive” and “just despicable.” The Times' story itself attracted a comment in the same vein: “This is a ridiculous invasion of privacy ... he did not shoot up a school, murder his wife ... he killed himself, why do they need to know what's in his diary?