May 21, 1988 |
Charles W. Knapp, the former chairman of Financial Corp. of America who was chased out of the savings and loan industry, is creating a nationwide financial services company that would provide mortgages, develop real estate and otherwise act much like an S&L. Through a subsidiary of his Los Angeles-based Trafalgar Holdings, Knapp recently bought a small Newport Beach mortgage company called Enterprise Funding and has a tentative deal to buy Landmark Mortgage in Santa Ana.
August 11, 1985
This letter is in response to a news item which appeared in the "Briefly" column of The Times' Business Section on July 31. The item in question reported on the sale by Financial Corp. of America of its FCA Mortgage Securities subsidiary to Salomon Bros. A tombstone advertisement on Sept. 15, 1983, announced the sale of $1.5 billion of Federal Home Mortgage Corp. participation certificates, a transaction arranged by FCA Mortgage Securities. This was at the time the largest single financing transaction in U.S. business history, and is but one of a series of multibillion-dollar mortgage securities transactions consummated by this operation during my tenure as general counsel of FCA. To state, as did the news item in question, that this operation "never got off the ground" is grossly inaccurate, as one would have discovered with even a minimal amount of inquiry.
April 12, 1986 |
The Los Angeles investment firm headed by financier Charles W. Knapp apparently has abandoned its attempt with a British partner to acquire Minebea Co., ending the first hostile takeover battle between a Japanese company and a foreign firm. Trafalgar Holdings, of which former Financial Corp. of America chief Knapp is chairman, and Glen International, a London-based investment company, sold all of their shares of Minebea, a Japanese conglomerate, Dow Jones News Service reported Friday.
June 9, 1990 |
The troubled world of maverick money man Charles W. Knapp appears to be wilting around him. Knapp has thrown in the towel on Trafalgar Holdings, the private Los Angeles-based financial-services firm that he founded in late 1984 to start life anew following his tumultuous tenure and ouster as head of the former parent of American Savings & Loan. Once the nation's largest thrift, American's failure in 1988 led to one of the biggest federal thrift bailouts ever.
May 13, 1989
Takami Takahashi, chairman and chief executive of Minebea Co. Ltd., a major Japanese manufacturing company that under his reign fought off a rare takeover attempt by U.S. investors in 1986, has died of acute pneumonia at his Tokyo home. He was 60. His death Wednesday was announced by NMB (USA) Inc. in Chatsworth, where Minebea's North American operations are headquartered. NMB employs about 3,200 people in the United States, including 540 in Chatsworth. Takahashi had led Minebea since 1958.