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Trib trial begins
Testimony began yesterday in the U.S. Tax Court case between the Tribune Co. and the IRS, which wants $915 million in back taxes and interest. It's a problem Tribune inherited when it bought Times Mirror in 2000, and the first witness was another problem that Chicago inherited in the deal: former L.A. Times publisher Kathryn Downing. Before she became publisher, Downing was involved in the sale of two Times Mirror units that generated the tax bill. She testified Monday that she didn't know very much about the creative scheme cooked up (the IRS contends improperly) to avoid the taxes. Coverage in the Times and the Chicago Tribune.
Previously: More LAT blues
© 2003-2008 • About LA Observed • Contact the editor
| Bratz sales approved, L.A. rents are falling, Grey re-ups at Paramount, and Northrop combines units.
| Even sales at Wal-Mart, which had been holding up reasonably well because of its low prices, rose only 1.7 percent in December.
| Eventually the meter-revenue claim becomes bureaucratic doublespeak for "meter-maid revenue."
| The MTA's Dorothy Peyton Gray Transportation Library and Archive jumps into Web 2.0 with enthusiasm, with Flickr photos and YouTube clips.
| Chuck Todd and his goatee
| An appreciation
City Controller Laura Chick is absolutely correct when she insists on the power to examine the performance of other elected officials.
At the top of Chicken Corner's wish list for quite some time has been a bookstore -- an independent shop...
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