WHAT’S IN A NAME? Why is a...

WHAT’S IN A NAME? Why is a savings and loan called Downey based in Newport Beach? “Some people have suggested we change the name, but we’ve done well, and our customers know us, so why change?” says Stephen W. Prough, president of Downey Savings of America. . . . How well? The institution, founded in Downey 37 years ago, is the state’s eighth largest savings and loan and second largest in its operating area. Prough credits a revitalized marketing program and his bank’s reputation for consistency.

HOME DELIVERY: In the age of electronics, helicopter pilots for the Orange County Fire Department have found a new use for newspapers. Aviation Week and Space Technology magazine this month boasts of their ingenuity in making it easier to hover in tricky, open-water rescues--dropping newspapers down the chopper’s wind funnel. . . . It’s still experimental, but pilot Bill Collier says: “When the papers hit the water, they begin to peel apart and spread over the surface.” The newspapers help the pilot stay focused on the target.

NOT SO GRATEFUL? In Newport Beach, even tributes can lead to a spark or two. Mayor John W. Hedges suggested Monday’s City Council meeting be closed in memory of Jerry Garcia, “the spiritual leader and driving force behind the Grateful Dead,” who died last week. Wait a minute, said Councilwoman Norma Glover, who is Oklahoma-born. She said she had nothing against Garcia but felt her state’s favorite son had been slighted. . . . Hedges added Mickey Mantle, who died Sunday, to the memorial.

MAJOR GROUNDS: Tuesday was a hectic day for county supervisors: They had to pass a major recovery plan to deal with the bankruptcy that’s plagued the county since last December. But their work was hardly done: They also had to approve the new coffee concession at John Wayne Airport--a place called “Creative Croissants.” . . . Asked Supervisor Roger R. Stanton: “Where was this issue in December?”

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Big Money

Newport Beach-based Downey Savings is second in deposits among savings and loans in its service area. Deposits in billions:

1. Home Savings (Los Angeles): $4.34

2. Downey Savings of America: $3.25

3. Great Western (Los Angeles): $2.61

4. American Savings (San Joaquin): $1.75

5. Glendale Federal (Glendale): $1.06

Source: PC Infobank