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Article: EXECUTIVE SUMMARY

Article from:
Orange County Business Journal
Article date:
December 1, 2008
Author:
Copyright

This past week's news from www.ocbj.com and other sources -Compiled by Julie Leupold

TOP STORY

Downey Financial Corp. filed for Chapter 7 bankruptcy last week after its savings and loan was seized by federal regulators on Nov. 2 1 . Federal regulators shut down struggling Downey Savings and shifted its deposits to Minneapolis-based U.S. Bancorp's U.S. Bank. Downey had been the largest savings and loan based in the county with assets of $12.8 billion and deposits of $9.7 billion. (see story page 14)

Downey's Newport Beach headquarters: what's left of company could be liquidated after filing for bankruptcy

TECHNOLOGY

Irvine's Microsemi Corp.. which makes chips for industrial users and the ...

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