S&L; Should Have Paid Its Savers a Bonus, Too
- Share via
I was away from Los Angeles for the past three years and only recently had my passbook updated by Columbia Savings & Loan. On Dec. 25, 1989, interest was posted; but a few days later my interest was reduced by 56 cents.
I asked a branch manager about the reason for the reduction. He replied that Columbia made a mistake by giving its depositors one extra day of interest.
On the very same day (May 8), The Times ran the story “Columbia S&L; Paid Officers $4 Million in Bonuses.”
Wouldn’t it have been a nice gesture on the part of Columbia to consider this extra day’s interest as a bonus to its loyal depositors, just as management did by paying out millions to a few executives?
WALTER STEIN
Los Angeles
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
