Glib Prediction
Philip M. Hawley, chairman and chief executive of Carter Hawley Hale Stores Inc. (Broadway, Neiman-Marcus) kept more than 100 San Diego executives informed and entertained at last week’s third annual University of San Diego Corporate Associates luncheon.
It’s no surprise that Hawley’s presentation on the status of corporate takeovers kept the audience informed: Hawley’s firm was the target of a takeover last year, so he is expert on the subject.
But the Los Angeles executive isn’t known for his humor, so his successful lighter-side quips brought laughter and surprise.
One of his jokes: when his teen-age son brought home a less-than-flattering report card a few years ago, Hawley dutifully lectured him about the importance of getting good grades. After his talk, the son asked, “Dad, is my problem hereditary or environmental?”
Hawley also had a joke of his own for the handful of financial reporters covering his speech. He glibly predicted that 1985 earnings would be twice as much as 1984’s profits, explaining that his disclosure would be released publicly.
Only one rub: earnings for the year ended Jan. 31, 1984, haven’t been announced yet, so Hawley’s prediction, while obviously self-promoting, was virtually impossible to verify.
More Plowshares
Economic conversion of military production plants to consumer production is the topic of a three-day conference beginning this Friday.
But it’s not a one-sided presentation: in addition to labor, peace activists and university professors, participants include business executives and U.S. Department of Defense officials.
Sun Dissidents
Dissident shareholders of Sun Savings & Loan Assn. have decided on two of their three picks for new directors. As predicted, Orange County businessman John W. Ben and accountant Ted T. van Leeuwen have been elected directors. A third dissident choice will be selected soon.
Ben is associated with Aqua Ben Corp. and was a director of Seaside Savings & Loan Assn. before its merger with Sun in 1983. Van Leeuwen, a certified public accountant, is sole proprietor of Headquarters Cos.
All Behind Bars
All criminally charged officials of bankrupt and fraud-ridden Coastal Equities are now behind bars, following the surrender Friday of Kathleen C. Durr, the firm’s former treasurer and controller, to begin a two-year prison term.
Founder Philip L. Jauregui is serving 10 years at Lompoc Federal Correctional Institute. With him are former Coastal Equities officials Anthony R. Sorge (four years) and Stephen A. Beard (30 months). Former official Charles L. Sterling is serving 18 months at the Boron federal prison in Riverside County.
Coincidentally, Jauregui’s attorney Monday asked U.S. District Judge Earl B. Gilliam to reduce his client’s 10-year sentence--a routine request in such cases. Gilliam asked prison officials for a “progress report,” to be presented to the court in March.
Maiden Flight
The seventh new BAe 146 British jet in PSA’s fleet will arrive March 2, and a tired group of reporters will be on board, part of a press entourage shepherding the plane from London.
But the flight will be anything but direct or non-stop.
Because the plane’s range is only 1,200 miles, the craft will take off from London on Feb. 28 and make six stops before it lands in San Diego two days later.
The voyage between London and San Diego includes stops in Iceland, Greenland and Labrador, as well as landings in Montreal, Green Bay, Wis., and Oklahoma City.
