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Business and economy
News and observations on the economy, business, real estate, aerospace, tech, wealth, poverty and more.
Incorporating LA Biz Observed.
"Wherever you go, there you are," says Buckaroo Banzai. Jon Christensen reads the new book "Trees in Paradise: A California History" on the long flight from LAX to Melbourne and reflects on what we can learn from history in a cosmopolitan era in which local diversity--biological and cultural--may be increasing rapidly, while the differences between places continue to shrink.
The brunt of the settlement involves the two carriers divesting 104 slots at Washington-Reagan National Airport and 34 at NY's La Guardia. At LAX, the combined airline would lose two gates at Terminal 3.
Not to belabor, but just because you have access to mountains of data doesn't mean you know what to do with it.
It's only a single month and October's figure will be subject to several revisions. Only by looking at the long-term picture do you have a sense of what's really going on.
Talk about pops - the social network's initial public offering was priced at $26 a share and promptly jumped to $50.09 before settling down a bit.
The actual headline at Atlantic Cities is "More Billionaires Live in Beijing Than in Los Angeles." Check out the data.
Given the hype surrounding the social network's arrival on Wall Street, price could easily get confused with value - a distinction that's especially important in Twitter's case because its financial prospects are so sketchy.
Geraldine Knatz was never shy about playing hardball with tenants, even though more competition from the other ports has meant less leverage in cutting deals. She talks about her eight-year tenure and about the changing industry.
The federal government's EB-5 visa program allows foreigners to invest in U.S. businesses or developments in return for getting to the front of the line when applying for green cards. But enforcement has been lax.
Forty-five minutes before landing, the pilot asked the cabin to remain seated when they reached Los Angeles so the military escort could deplane first. He also warned passengers not to be alarmed by the fire trucks. The LAFD, he said, greets all fallen soldiers with a water cannon salute.
This over-hyped annual ritual involves inexperienced reporters cribbing the guesstimates of NY-based analysts about the prospects for Southern California merchants. Good luck sorting that out.
Virgin America's preparations for catastrophe have never been so entertaining. Too bad the airline needs more than a floor show.
The policies typically provide scant coverage - frequently lacking maternity care or mental health benefits, for example. Dumping them was one of the ideas behind the Affordable Care Act - or as Suzanne Somers claims in a WSJ oped, the nation's march toward socialism.
New bosses, in politics or business, are often conflicted about who to keep. The obvious reflex is to select your own people, but many of these jobs require an institutional knowledge that can take months or even years to pick up.
David Allen, the columnist for the Inland Valley Daily Bulletin, recently went on vacation in Northern California. For him, nine days on the road means stops at record stores and bookstores.
Mayor Garcetti wants to open the process, but transparency is not so much the issue; it's context. Knowing that L.A. gets 28 percent of its revenue through property taxes is a useless data point unless we can find out why it's higher than previous years.
The Times updates its style guide to the use of tech terms and more. The stylebook itself may become public.
No more non-stops between Los Angeles and Singapore, part of a cutback by Singapore Airlines on ultra long-range routes. Also gone is the Newark to Singapore run, which at nearly 19 hours (yikes!) had been the world's longest non-stop flight.
Not horrible, not wonderful - September's numbers were a tad disappointing, with only 148,000 jobs added to the rolls. But the unemployment rate did drop to 7.2 percent from 7.3 percent the previous month.
A tentative deal between the Bay Area Rapid Transit agency and its two largest unions will end the latest transit strike there after four days.
Southern California's economy is in pretty good shape, with most of the effects likely to be short term and marginal.
September home sales and prices are down a bit from the previous month, according to Dataquick, but that's not such a bad thing.
What we're seeing play out has nothing to do with policy. It's all about face-saving.
High-end home sales, which had been lagging in the early days of the housing recovery, are making up for lost time. Big-time investors like Colony Capital are getting interested.
Well, breakthrough is pushing it, but investors were determined to look at the bright side. The Dow finished up 323 points, to 15,126.
This is not much of a government town, so the impact has involved inconvenience more than dislocation. But should the impasse drag out for several more weeks there's bound to be an economic cost.
Much will be made of her becoming the first woman Fed chairman, as it should, but the real story is what a great selection this is - a remarkable pivot from what would have been a terrible selection in Larry Summers.
Mark Lacter and LA Biz ObservedMark Lacter created the LA Biz Observed blog in 2006 and posted until his death on Nov. 13, 2013. His 10,000-plus posts are archived here.
New at LA Observed
Objects of artClare Graham at work in his Northeast LA studio. Story and photos by Iris Schneider at Native Intelligence.
Walking in LAMichael Schneider's Great LA Walk marked its eighth year with an 18-mile trek from Echo Park Lake to the bluffs in Santa Monica.
Owner won't raze Dutton's siteFive years later, landlord Charles Munger drops big development plans for former Brentwood bookstore. More
Films for grownupsCast members of "12 Years a Slave" at the AARP Films for Grownups Film Festival. Native Intelligence by Iris Schneider.
Griffith Park mountain lionCougar P-22 walking past Steve Winter's night camera with the Hollywood sign behind. National Geographic story
Folkenflik on MurdochDavid Folkenflik of NPR and Kevin Roderick of LA Observed discuss Rupert Murdoch at a Zocalo Public Square event in Culver City. Story and video
Governors ballThe best part of next year's Oscars show may already have happened. Read
Sungjin Ahn admires the Joshua trees of California's deserts so much that he spent year making a lovely time lapse. Watch
Drawers holding letterpress type at Iron Curtain Press pop-up store in Westwood Village, part of the Hammer Museum's Arts ReSTORE LA project. Bigger
O bloggerIf you can't see Veronique de Turenne in the Hollywood sign, check out the photo bigger.
Historic Wilshire chapel1899 design on VA land has separate Protestant and Catholic chapels. President McKinley was there. Bigger
Times pressPhotographer Julius Chiu shot a series of photos inside the Los Angeles Times printing plant south of downtown. More
Invisible Cities at Union StationOld Union Station ticket counters become part of the stage for the opera "Invisible Cities."Iris Schneider/Native Intelligence
Eastern SierraA mass of volcanic cinder near Aberdeen. Bigger | More LA Observed photos from Owens Valley.
Learning to love LAThe editors of Boom: A Journal of California asked writer Bob Sipchen and his son Rob to defend LA's right to exist. Which they did. Read
Garcetti photobombs Aja BrownMayor Eric Garcetti and Compton's new mayor were honored by the LA County Young Democrats. "I just couldn't resist this #photobomb opportunity," Garcetti posted on Facebook.
Hot Dog StickSunday afternoon, Santa Monica Beach boardwalk. Bigger
Invisible CitiesUnion Station patrons get to watch (without sound) the Invisible Cities opera. Photo by Iris Schneider.
Halloween stuffStore in Westwood. Judy Graeme — see bigger.
Photojournalism by mastersIris Schneider reviews big new books by Sebastiao Salgado, Steve McCurry and Elliot Erwitt. Native Intelligence