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BUSINESS
September 21, 1991 | From Reuters
First Union Corp.'s winning bid for Southeast Banking Corp. signals that U.S. regulators are cutting tougher deals for failed banks, creating a challenge for the merger of the two major Southern banks. "First Union is taking a gamble here," Paine Webber Inc. analyst Lawrence Cohn said. "It is buying a heck of a franchise, but it remains to be seen what price it is paying." The buyout, announced late Thursday, will eventually make Charlotte, N.C.
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BUSINESS
September 2, 2010 | By E. Scott Reckard, Los Angeles Times
A federal agency is accusing two former executives of a giant failed credit union in Los Angeles County of fraud for their roles in adding millions of dollars to retirement payouts for themselves and other top brass at the financial institution. A lawsuit by the regulators also alleges breach of fiduciary duty and negligence by the two executives and 14 other officers and directors of Western Corporate Federal Credit Union in San Dimas. WesCorp, as it was known, was seized by the government in March 2009 after incurring nearly $7 billion in losses, largely because of bad investments in mortgage-backed bonds.
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BUSINESS
March 5, 1998 | JAMES F. PELTZ, TIMES STAFF WRITER
First Union Corp. agreed Wednesday to buy The Money Store Inc. for $2.1 billion in a move that would enable the big banking company to establish a coast-to-coast presence in the consumer home-equity and small-business loan industries.
BUSINESS
March 5, 1998 | JAMES F. PELTZ, TIMES STAFF WRITER
First Union Corp. agreed Wednesday to buy The Money Store Inc. for $2.1 billion in a move that would enable the big banking company to establish a coast-to-coast presence in the consumer home-equity and small-business loan industries.
BUSINESS
September 11, 1986 | JAMES S. GRANELLI
Hoping to capitalize on Orange County's entrepreneurial spirit, Union Bank said it plans to move its Union Venture Corp. subsidiary to Irvine, where the venture capital unit has had an office for the last year. The Los Angeles-based bank also promoted a 12-year bank veteran, John W. Ulrich, 38, of Huntington Beach to head the venture capital subsidiary. Ulrich has been with Union Venture for the last 10 years, most recently as vice president and manager of the Irvine office.
BUSINESS
May 4, 1987
Champlin Petroleum and Rocky Mountain Energy will be merged into a single operating company called Union Pacific Resources, according to Union Pacific Chairman and Chief Executive William A. Cook. Headquarters for the new subsidiary will be in Fort Worth. Cook said the change will enable UP to make further cost and productivity improvements in the natural resource businesses and to manage them more effectively. UP bought Champlin, the firm's oil and gas company based in Fort Worth, in 1970.
NEWS
January 1, 1995 | LESLIE BERESTEIN
Eleven members of AmeriCorps, the national service organization, will give a boost to cleanup efforts here as part of Building Up Los Angeles, a federally funded program that provides assistance to blighted inner-city communities. "We're hoping to use them to help recruit new block captains," said Gloria Soto of the Pico-Union Improvement Assn., one of the seven groups that will receive assistance from AmeriCorps members.
BUSINESS
September 2, 2010 | By E. Scott Reckard, Los Angeles Times
A federal agency is accusing two former executives of a giant failed credit union in Los Angeles County of fraud for their roles in adding millions of dollars to retirement payouts for themselves and other top brass at the financial institution. A lawsuit by the regulators also alleges breach of fiduciary duty and negligence by the two executives and 14 other officers and directors of Western Corporate Federal Credit Union in San Dimas. WesCorp, as it was known, was seized by the government in March 2009 after incurring nearly $7 billion in losses, largely because of bad investments in mortgage-backed bonds.
NEWS
April 2, 1986 | MICHAEL WINES, Times Staff Writer
In the largest fine it has ever imposed, the Occupational Safety and Health Administration on Tuesday ordered Union Carbide Corp. to pay nearly $1.4 million for "conscious, overt and willful" safety violations at a West Virginia pesticide plant where a huge toxic-gas leak injured 135 people last August.
BUSINESS
February 21, 2006 | Ronald D. White, Times Staff Writer
After years of retrenchment, railroads across North America are reporting record profits and rolling forward with massive expansion projects of the kind that haven't been seen in decades. The growth has been fueled by a flood of cargo containers filled with Asian products, which ended the coal industry's 102-year streak as rail's biggest revenue generator in 2003 and has surged further ahead since then.
NEWS
January 1, 1995 | LESLIE BERESTEIN
Eleven members of AmeriCorps, the national service organization, will give a boost to cleanup efforts here as part of Building Up Los Angeles, a federally funded program that provides assistance to blighted inner-city communities. "We're hoping to use them to help recruit new block captains," said Gloria Soto of the Pico-Union Improvement Assn., one of the seven groups that will receive assistance from AmeriCorps members.
BUSINESS
September 21, 1991 | From Reuters
First Union Corp.'s winning bid for Southeast Banking Corp. signals that U.S. regulators are cutting tougher deals for failed banks, creating a challenge for the merger of the two major Southern banks. "First Union is taking a gamble here," Paine Webber Inc. analyst Lawrence Cohn said. "It is buying a heck of a franchise, but it remains to be seen what price it is paying." The buyout, announced late Thursday, will eventually make Charlotte, N.C.
BUSINESS
May 4, 1987
Champlin Petroleum and Rocky Mountain Energy will be merged into a single operating company called Union Pacific Resources, according to Union Pacific Chairman and Chief Executive William A. Cook. Headquarters for the new subsidiary will be in Fort Worth. Cook said the change will enable UP to make further cost and productivity improvements in the natural resource businesses and to manage them more effectively. UP bought Champlin, the firm's oil and gas company based in Fort Worth, in 1970.
BUSINESS
September 11, 1986 | JAMES S. GRANELLI
Hoping to capitalize on Orange County's entrepreneurial spirit, Union Bank said it plans to move its Union Venture Corp. subsidiary to Irvine, where the venture capital unit has had an office for the last year. The Los Angeles-based bank also promoted a 12-year bank veteran, John W. Ulrich, 38, of Huntington Beach to head the venture capital subsidiary. Ulrich has been with Union Venture for the last 10 years, most recently as vice president and manager of the Irvine office.
NEWS
April 2, 1986 | MICHAEL WINES, Times Staff Writer
In the largest fine it has ever imposed, the Occupational Safety and Health Administration on Tuesday ordered Union Carbide Corp. to pay nearly $1.4 million for "conscious, overt and willful" safety violations at a West Virginia pesticide plant where a huge toxic-gas leak injured 135 people last August.
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