"The basics have always been at the heart of our business, and we think that there is no better time to get back to them," William A. Fitzgerald told about 150 people at the Omaha company's annual stockholders meeting. Stockholders asked three questions during the 30-minute meeting, held at the Holiday Inn at 72nd and Grover Streets: will Commercial Federal be profitable in fiscal 1990-91; can the company raise $70 million in new capital by next June 30; and why is the stock price so much lower than its book value. The company's $32 million loss in fiscal 1990 was caused by a $47 million addition to reserves for possible loan losses, Fitzgerald said, a step caused by new federal regulations governing S&Ls.Addition to Reserves
Full text: Omaha World - Herald, Nov 20, 1990
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