Word: houstons
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Dates: during 1980-1989
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...company (assets: $33.2 billion), skidded to the brink of failure and was forced to go, ten-gallon hat in hand, to the U.S. Government. Within two days the Federal Deposit Insurance Corporation advanced $1 billion to keep First RepublicBank's 73-member banks in business. At the same time, Houston's ailing First City Bancorp, the fourth largest banking company in the state, reported that its plan for returning to financial health was in jeopardy. The problems encountered by both companies dramatized once again just how badly the Texas oil and real estate busts have damaged the state's economy...
...company, then called RepublicBank, acquired another Dallas firm, InterFirst, which was on the verge of collapse. InterFirst seemed salvageable, but its loan portfolio was in worse shape than RepublicBank assumed. As a result, First RepublicBank last year lost $657 million. Says Paul Horvitz, a professor at the University of Houston: "The merger may turn out to have been the worst business decision ever made." Worried First RepublicBank's depositors have pulled some $2 billion out of their accounts this year. If First Republic were to fail, it could cost the FDIC $5 billion to restore the bank's financial health...
...Houston (76-86, NL West third) Joaquin Andujar is back. He will probably help Houston's already strong staff. Mike Scott (16-13) and Nolan Ryan (8-16, 2.76 ERA) still can throw smoke. The Astros have some fine talent in Bill Hatcher (.296, 11 HR, 63 RBI) and Glen Davis. But to turn this season around, the Astros cannot choke like they did after August. Last year, the Astros lost 26 of their final 37 games. Best player: Davis...
...teams will hold double training sessions in Houston, Texas, for the first part of their spring break, then will compete in outdoor invitational meets at Texas A&M and Rice...
...Nancy Traver New York: Bonnie Angelo, Margot Hornblower, Eugene Linden, Thomas McCarroll, Jeanne McDowell, Raji Samghabadi, Janice C. Simpson, Martha Smilgis, Wayne Svoboda Boston: Robert Ajemian, Joelle Attinger, Melissa Ludtke, Lawrence Malkin Chicago: Gavin Scott, Barbara Dolan, Elizabeth Taylor Detroit: B. Russell Leavitt Atlanta: Joseph J. Kane, Don Winbush Houston: Richard Woodbury Miami: Cristina Garcia Los Angeles: Dan Goodgame, Jonathan Beaty, Elaine Dutka, Jon D. Hull, Michael Riley, James Willwerth, Denise Worrell San Francisco: Paul A. Witteman...