LA Biz Observed
 
Bio • Email • Archive
Follow Mark on Twitter • 
Hear Mark Lacter on KPCC
 

Talk about a nice return on your investment. The Los Angeles County Employees Retirement Association is selling the landmark Ritz-Carlton Huntington Hotel & Spa in Pasadena for $170 million, which is a few dollars more than the $42.5 million that the association paid for the property in 1994. The buyer is Great Eagle Holdings, a Hong Kong real estate investment firm that's controlled by billionaire Lo Ka-shui. Great Eagle owns hotels in Boston, London, Hong Kong, Auckland, New Zealand, and Melbourne, Australia, and it's looking to expand. One outstanding issue is the lawsuit filed in August by two employees who allege they were not paid overtime and were forced to work through their breaks. (LAT)

> | More
© 2003-2010   •  About LA Observed  •  Email the editor
Follow LAO
Kevin Roderick blog
10:15 PM Sat | Marathon organizers are advising runners to get out early Sunday since getting to Dodger Stadium could prove difficult: "ARRIVE EARLY! We suggest you be there by 5:30am.," says an official tweet. Plus street closures, bus changes and more.
8:54 PM Sat | The Hump shuts its doors
Mark Lacter, LA Biz Observed
2:26 PM Fri | You might recall his being sent off for secretly paying clients to pursue shareholder lawsuits.
Sponsors
Jewish Journal logo
California Wellness Foundation
For information on becoming a sponsor, email the editor.
Sign up for email

Enter your email address:

Delivered by FeedBurner


Blogads Los Angeles network

Get RSS Feeds
of LA Observed
LA Observed publishes several Real Simple Syndication feeds for easy scanning of headlines. If you wish to subscribe to a feed, most popular RSS readers will do it for you. You can also enter the web address from the XML button below or click on a specific feed. For more help with RSS, try here or here.




Add to Google