Author Topic: The Rise & Fall of a Jax F500 Company: Charter Company  (Read 4546 times)

Metro Jacksonville

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The Rise & Fall of a Jax F500 Company: Charter Company
« on: June 01, 2015, 05:00:01 AM »
The Rise & Fall of a Jax F500 Company: Charter Company



Nearly 40 years ago, “The Charter Company” and “Mason” were some of the most popular, well-known names in Jacksonville. While they likely don’t ring many bells for Jacksonville’s most recent generations, the company’s nearly 30 year run impacted Jacksonville in many ways—some of which still resonate today, despite Charter Company’s lack of presence.

Read More: http://www.metrojacksonville.com/article/2015-jun-the-rise-fall-of-a-jax-f500-company-charter-company-

Adam White

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Re: The Rise & Fall of a Jax F500 Company: Charter Company
« Reply #1 on: June 01, 2015, 08:41:08 AM »
This is a very interesting story and it's cool to see MJ doing a story on it. That said, the article seems a bit thin and unfocused - there isn't much detail.

Also, it isn't clear whom Anwar Sadat met with at Epping Forest.
“If you're going to play it out of tune, then play it out of tune properly.”

Houseboat Mike

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Re: The Rise & Fall of a Jax F500 Company: Charter Company
« Reply #2 on: June 01, 2015, 09:33:10 AM »
This is a very interesting story and it's cool to see MJ doing a story on it. That said, the article seems a bit thin and unfocused - there isn't much detail.

Also, it isn't clear whom Anwar Sadat met with at Epping Forest.

I agree. in 75 it was President Ford- they just forgot the "d"

Houseboat Mike

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Re: The Rise & Fall of a Jax F500 Company: Charter Company
« Reply #3 on: June 01, 2015, 09:34:33 AM »
Also, a little known fact is that EverBank can directly chase its history to Charter. Before EverBank it was known as Alliance Mortgage Company, and before that it was called Charter Mortgage. 

Adam White

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Re: The Rise & Fall of a Jax F500 Company: Charter Company
« Reply #4 on: June 01, 2015, 10:09:30 AM »
This is a very interesting story and it's cool to see MJ doing a story on it. That said, the article seems a bit thin and unfocused - there isn't much detail.

Also, it isn't clear whom Anwar Sadat met with at Epping Forest.

I agree. in 75 it was President Ford- they just forgot the "d"

Aha! I wasn't being obtuse - I honestly thought it was the president FOR something - it didn't occur to me that it was US President Ford.

D'oh.
“If you're going to play it out of tune, then play it out of tune properly.”

TheCat

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Re: The Rise & Fall of a Jax F500 Company: Charter Company
« Reply #5 on: June 01, 2015, 11:00:16 AM »
Didn't know this...need more info, though. I'm echoing Adam White's statement.

Here's some more on the topic:


According to their wiki page, it wasn't the lawsuit that put them under it was an "oil glut" .

One of the primary reasons for Charter's bankruptcy was the financial market. Oil prices dropped sharply and companies lost their ability to get trade credit, so they were unable to purchase crude oil (feed the bear) and that forced Charter into Chapter 11, according to Mason.http://en.wikipedia.org/wiki/Charter_Company

The lawsuit settlement according to the NY Times was under $3 million. The initial suit was for $1.8 billion.

Lawsuit Article:
http://www.nytimes.com/1983/12/17/us/around-the-nation-119653.html

Settlement Article:
http://www.nytimes.com/1983/10/02/us/settlements-are-reached-in-suits-over-dioxin-pollution-in-missouri.html


Purchase of Spelling will close Charter connection

They ended up selling just about everything they owned but they remained in the entertainment business for about ten years after bankruptcy by buying a controlling interest in Spelling Television (Charlie's Angels, Melrose Place...)

Charter became Spelling after financier Carl Lindner acquired control of Charter in bankruptcy court in the 1980s. Lindner eventually sold off all of Charter's pre-bankruptcy businesses, which included oil, insurance, publishing, broadcasting and convenience store interests.



Spelling Entertainment Inc. was acquired by The Charter Company on April 6, 1991.[3] On March 31, 1992, Spelling and Charter announced a merger agreement.[4] On October 5, 1992, Charter changed its name to Spelling Entertainment Group Inc. and updated its NYSE ticker symbol to SP.[5]

On October 5, 1993, Blockbuster, Inc. acquired a controlling stake in Spelling Entertainment Group.[6] On April 28, 1994, Spelling Entertainment and Blockbuster Entertainment Corporation acquired Republic Pictures for $100 million.[7]

In August 1994, a package of shows called was produced Spelling TV for Worldvision's Spelling Premiere Network. These shows included Robin's Hoods, Heaven Help Us,[8] and University Hospital, Heaven's midseason replacement.[9]

http://en.wikipedia.org/wiki/Spelling_Television
http://www.thefreelibrary.com/SPELLING+ENTERTAINMENT+INC.+AND+THE+CHARTER+COMPANY+ANNOUNCE+MERGER...-a012002790


Charter purchased 14 million shares of Spelling for 65.3 million in cash and notes.

http://articles.chicagotribune.com/1991-04-06/business/9101310603_1_spelling-entertainment-lindner-producer-of-such-television


They were finally gone in 1999 when Viacom bought out their remaining 18 percent ownership of Spelling

The Charter Co., once a big-time Jacksonville corporation before it filed for bankruptcy protection in 1984, has been living on in the stock market as Spelling Entertainment Group Inc. But the company is about to finally disappear altogether.

Viacom Inc., which owns 80 percent of Spelling's stock, has offered to buy the remaining 18.6 million shares for $9 each.
http://jacksonville.com/tu-online/stories/032999/bus_1h4ticke.html#.VWxrslxViko
http://www.nytimes.com/1992/03/14/business/company-news-charter-selling-its-oil-business.html


Spelling is now a unit of CBS. It doesn't seem to be a separate company of CBS.
« Last Edit: June 01, 2015, 11:01:59 AM by TheCat »

Adam White

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Re: The Rise & Fall of a Jax F500 Company: Charter Company
« Reply #6 on: June 01, 2015, 11:10:30 AM »
I remember the Charter gas stations/convenience stores and the building downtown. It was weird, because as I recall, the company really just seemed to implode almost overnight after the helicopter crash. I'm sure it's just my memory or whatever, but it seemed to happen really quickly.
“If you're going to play it out of tune, then play it out of tune properly.”

finehoe

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Re: The Rise & Fall of a Jax F500 Company: Charter Company
« Reply #7 on: June 01, 2015, 11:26:55 AM »
People should keep this story in mind when they hear that any venture backed by a certain wealthy local sports franchise owner "can't fail".

thelakelander

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Re: The Rise & Fall of a Jax F500 Company: Charter Company
« Reply #8 on: June 01, 2015, 12:07:00 PM »
This is a very interesting story and it's cool to see MJ doing a story on it. That said, the article seems a bit thin and unfocused - there isn't much detail.

Also, it isn't clear whom Anwar Sadat met with at Epping Forest.
Thanks. An enhanced/more in-depth version of this article will be submitted next week.
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Adam White

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Re: The Rise & Fall of a Jax F500 Company: Charter Company
« Reply #9 on: June 01, 2015, 02:24:38 PM »
This is a very interesting story and it's cool to see MJ doing a story on it. That said, the article seems a bit thin and unfocused - there isn't much detail.

Also, it isn't clear whom Anwar Sadat met with at Epping Forest.
Thanks. An enhanced/more in-depth version of this article will be submitted next week.

Great, Lake. This is a really interesting story and one that I'd like to know more about. Charter Oil was a really big deal.
“If you're going to play it out of tune, then play it out of tune properly.”

marksjax

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Re: The Rise & Fall of a Jax F500 Company: Charter Company
« Reply #10 on: June 01, 2015, 03:44:46 PM »
Mr. Mason had a very nice car collection as well. I recall getting to go visit the estate once with a friend (who was friends with the son) and I saw a garage full of exotics. Also got to see Mr. Mason's 'office' which was, well imagine a boat house that had the same look as the house and built with no expense spared and you get the idea.
Nice people.

Anwar Sadat of Egypt and was it M. Begin of Israel that met there? I think H. Kissinger was involved. Heady stuff.

Know Growth

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Re: The Rise & Fall of a Jax F500 Company: Charter Company
« Reply #11 on: June 01, 2015, 09:14:26 PM »
The 40+ Million $ purchase of Guanna property, state's first Conservation & Recreation Lands Act purchase in NE Florida at the time ( and also the single most expensive project at that time),was rather interesting.

There was an attempt to keep the beach front property out of the Guanna deal.........Conservation Organization leader Johnny Jones,responsible for C.A.R.L. paqssage,was at the negotiating table. Johnny prevailed.

Years later,Mayor John Peyton,at long established "Mayor's Enviro Roundtable" meeting,admonished members to report on 'good' things they had been involved with.
I tersely noted the Guanna acquisition, and ceased attending the Roundtable.
« Last Edit: June 01, 2015, 09:19:06 PM by Know Growth »

marksjax

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Re: The Rise & Fall of a Jax F500 Company: Charter Company
« Reply #12 on: June 02, 2015, 12:46:30 AM »
Not sure I understand the connection of Guana with the Charter Co.
Gate acquired the Guana track along with the PV Inn & Club, Deerwood and what is now Tinseltown when Mr. Peyton bought Stocton, Whatley, Davin Co and yes the state did buy it from them. I was unaware of the Charter Co connection.
Gate later bought the DuPont Estate from the Masons but that was after the SWD and Guana deal.

Steve

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Re: The Rise & Fall of a Jax F500 Company: Charter Company
« Reply #13 on: June 22, 2015, 02:20:20 PM »
Looks like the Chapter 11 was closed a couple months ago:

http://www.jaxdailyrecord.com/showstory.php?Story_id=545674