S&L; RIPPLE: Cathedral City isn’t the only...

S&L; RIPPLE: Cathedral City isn’t the only place in Southern California where the federal government owns a hotel or two (D1). . . . The feds, who have repossessed holdings of flopped thrifts, are in the hospitality business right here in Orange County with a sizeable lodging: the 415-room Hyatt Newporter, a venerable Newport Beach hotel once owned by the now insolvent Columbia Savings & Loan Assn.