Investor Travis E. Reed, who said he...

Investor Travis E. Reed, who said he controls 4% of First Executive Corp., indicated he will seek a 30-day postponement of the Los Angeles-based insurance holding company’s scheduled annual meeting today. The company indicated that it would go ahead with the meeting. Reed was quoted in a published report as saying he is forming a group to seek the possible sale or restructuring of First Executive. The firm’s stock was heavily battered in the October market crash and has lost more than 50% of its value.