Archive by Month
March 31, 2008
American Apparel's CEO used a frame from "Annie Hall" on a company billboard - and he's now being sued for $10 million.
Zell's interest in selling the Long Island newspaper could provide clues on whether he'll eventually put the LAT on the block.
The British band decided on a huge deal with Live Nation, despite Bono showing some interest in Ticketmaster.
Paulson proposes financial reforms, AFTRA to start contract talks, Branson launches service to Australia, and new wrinkle for Marilyn Monroe estate.
March 30, 2008
The unexpected pause is bound to raise questions about how well - or poorly - the British chain is faring.
SAG and AFTRA are behaving like school yard snots, even though no one seems to have the stomach for another strike.
The administration is desperately trying to do something - it just doesn't want to do something.
March 28, 2008
A federal judge in L.A. ruled that the heirs of Jerome Siegel were entitled to reclaim their share of the copyright.
If this were football, they’d be going to the Gator or Cotton bowls, while Berkeley and Stanford would be BCS teams.
A Delaware judge has ruled against Liberty Media's John Malone in his effort to block breakup plan.
It gets a little convoluted, but the real question is whether the OC tech firm's co-founders will implicated.
The feds have given the Brea-based subprimer 60 days to get more capital or find a buyer,
Countrywide president scores, pollution rules slashed, gas inches downward, and Redstone and Cruise break bread.
March 27, 2008
LAT, OC Register and Bloomberg's L.A. bureau receive top honors from business news organization.
The CEO of NBC Universal takes snipes at the Writers Guild and the terms of the new contract.
March 26, 2008
A report says the accounting firm endorsed a move that allowed New Century to report a profit rather than a loss.
Repairs are minor - and probably unnecessary - but the recent lapse at Southwest is raising concern at other airlines.
Here's not the way to make money: The S&P 500 has risen an average of 1.3 percent a year over the past 10 years.
The L.A. County Federation of Labor and a coalition of community groups are backing the effort.
March 25, 2008
No morning headlines and very limited posting over the next couple of days.
The L.A. numbers are not the worst in the country - that distinction goes to Miami, Vegas and Phoenix.
March 24, 2008
The ring-leaders allegedly targeted homeowners in financial trouble through the old "foreclosure rescue" pitch.
The stock is way up on better-than-expected home sales. But fire destroys part of its Warner Center development.
A group of public pension funds allege that the company's executives collected $900 million from insider trading.
J.P. Morgan ups bid, still-crazy prices for Malibu rentals, new venture for ex-Countrywide president and Univision scores.
March 21, 2008
CBS reports a huge increase in Web traffic on Day One of March Madness and advertisers have taken note.
The new report is another sign that the economic impact of the writiers strike was minimal.
Sour market reduces L.A. property taxes, Pellicano trial gets interesting (sort of), and Starbucks baristas win tip dispute.
March 20, 2008
L.A. harbor commissioners broke ranks with their Long Beach counterparts with a plan that will end the use of independent drivers.
The Paramount head said he had nothing to do with his legal team hiring Pellicano - and he wasn't aware of any wiretapping.
One insider tells Crain's NY Biz that an offer has been made. Tribune acknowledges that it may have to sell assets.
Emmy-winning producer is charged in an alleged scheme to inflate the revenue and stock price of the company he founded.
Oil plunges to under $100, MGM could face credit crunch, Borders is on the block, and Milberg partner makes plea deal.
March 19, 2008
Even the judge referred to "lengthy and boring" testimony, though there have been a few zingers directed at the gumshoe.
Dov Charney faces an SEC inquiry (probably informal), while Joe Francis turns up New Jersey's call girl "gone wild."
JetBlue is betting that those extra four inches will be a big deal - and a way to compete with Virgin America.
This one sets the right tone - somewhere between the Weekly Reader and the Journal of Economics.
Markets chew on good news, SEC looking at Bear, Oxy CEO makes $63.5 million (really more), and plan for cleaner ports.
March 18, 2008
The insurance giant says it's being unfairly forced to lower premiums by a larger percentage than other companies.
Most folks are watching the same amount of television as they did during the Writers Guild walkout.
The fed funds rate was reduced from 3 percent to 2.25 percent, its lowest level since December 2004.
Market soars and then waits for Fed decision, Bear Stearns shareholders up in arms, and gas prices may be peaking.
March 17, 2008
February exports are way up from a year ago, but there are still far more containers coming in than going out.
Orange County's Roland Arnall founded what became the largest originator of subprime loans in the country.
As interest rates on government securities keep falling, some say that stocks are a bit more attractive than before.
Unfortunately, there's no law against loudmouths who make all kinds of declarations that turn out to be sooooo wrong.
Markets jittery on Bear Stearns news, Supremes takes on indecency case, Boeing lays out complaints, and shakeup at HBO.
March 16, 2008
J.P. Morgan is buying the venerable Wall Street bank for $236 million. On Friday its market value was $3.5 billion.
March 15, 2008
Some primers on the troubled financial markets and why the Bear Stearns story is really a big deal.
The Tribune Co. CEO, speaking to Baltimore Sun staffers, was sounding more downbeat than at earlier appearances in L.A.
March 14, 2008
U.S. video game sales — including hardware and software — jumped 34 percent. Local publishers did well.
There's only so much that the nation's central bank can do to stabilize the banks and credit markets.
Jurors found that doctors did they everything they could to save the actor’s life. His widow wanted an apology.
The bank has been in precarious shape for many months now, but concern turned into crisis over the past 24 hours.
Wall Street freaks out over Bear Stearns free fall, another jump in gas prices, and dockworkers to begin contract talks.
March 13, 2008
Not surprisingly, the big money - high six figures by one estimate - would involve taking her clothes off.
An FDA panel placed more restrictions on the company's anemia drug, but opposed any outright ban.
Daily nonstop service will begin this fall, another example of the airport's effort to cut deals with international carriers.
Last Friday's employment report, which showed a loss of 63,000 jobs in February, clearly changed a lot of minds.
February's declines are at least partly the result of folks who have the ability to buy or sell choosing to stay on the sidelines.
Financial markets are down, downtown real estate is in the pits, Pellicano's gal brought to tears, and splitsville for Harry Potter.
March 12, 2008
The Chino slaughterhouse owner fails to show up at a hearing, then is subpoenaed, then retracts his prepared remarks.
The airline has had to ground 38 of its 737s, resulting in some cancellations around the country.
Her real name is Ashley and she doesn't want to be thought of as a monster. "This has been a very difficult time," she says.
Spitzer resigns today, slaughterhouse owner denies that unsafe meat was processed, and Amgen drug faces new restrictions.
March 11, 2008
A slowing economy is no doubt behind the lower numbers, but international travel remains strong.
Wall Street reacts to the Federal Reserve offering to loan banks $200 billion by accepting mortgage-backed securities as collateral.
Lots of money was invested in the business that's at the center of the largest-ever meat recall - except for one thing.
Stocks up after Fed eases lending policies, Spitzer expected to resign, judge reduces Dole damages, and NBC not for sale (we think).
But the drumbeat of bad news runs the risk of having people act as if there were one.
March 10, 2008
Northrop and the European company that won a $40 billion contract to build refueling tankers, will have to wait several months.
There really aren't that many, which might just reflect an "everybody does it" culture.
He's become a lot more pessimistic about the economy, while Disney CEO Bob Iger isn't talking.
Oil surged above $108 a barrel for the first time, another record high, and pump prices are approaching $4 a gallon.
The ring had 50 prostitutes available for appointments in L.A., NY, Washington and other cities.
How Northrop won Air Force award, new warnings for Amgen drug, Countrywide stock is down, and Diller and Malone go to court.
March 08, 2008
The informal session went well or badly, depending on which source you're asking. Meanwhile, Wall Street is taking note.
The feds are apparently looking at evidence that may indicate widespread fraud in the origination of mortgages.
March 07, 2008
Yet New Yorkers can't seem to get enough of the shop-worn stereotypes that went out with Nehru jackets.
The Socal Singleton papers obviously don't like to deliver bad news, especially about themselves.
With 63,000 jobs lost last month, more economists are convinced that we're in a recession - and it could be around a while.
Countrywide's CEO testifies that when he did well his shareholders did well. It's an argument that only goes so far - like 2007.
Jobs report worse than expected, Mozilo grilled on pay package, gas prices are up again, and SAG and AFTRA make nice.
March 06, 2008
Prosecutor argues that the gumshoe's recordings paint a "clear and crystal" picture of shady dealings.
Call me crazy, but should the city attorney be thrown a party by the guy who has lobbied the city on billboard-related issues?
Moscow has the most billionaires, with 74, followed closely by NY (71). L.A. ranks sixth.
When you’re on the bubble, it won’t take many scary headlines to push the economy over the edge.
Movies are more expensive to make, Pellicano jury in place, Air Force takes heat on Northrop deal, and KB CEO gets $24.4 million.
March 05, 2008
Yes, they are getting richer, thanks to various windfalls made last year. If you dislike the Chandlers, read this with care.
It’s way too soon to prepare any corporate obits, but his tone has clearly downshifted. Yes, that Barry Diller.
The Times now has 10 digital signs around town that rotate headline-type content every eight seconds.
A Texas judge stopped short of a fine because he couldn't say whether the company had acted in bad faith or just bungled.
State bankruptcy filings are up, Pellicano trial gets started,and more hand-wringing about fabricated memoir.
March 04, 2008
The Olympics and the elections should more or less prop up revenues in 2008. Next year could be another story.
That's what happens when yields on long-term obligation bonds hit 5 percent - higher than Treasuries.
After Obama whittled down her lead in Texas and Ohio over the past two weeks, his momentum is slowing.
Another bad day for stocks, new requirements for appraisers, film shoots delayed because of strike worries, and lawyers sue Regan.
March 03, 2008
It turns out that Margaret B. Jones did not grow up in South Central and did not run drugs for gang members.
The longer prices remain high, the more likely you'll see a response. But long-term habits are tough to shake.
The concern is that Singleton's company might not make enough money to cover its bank agreements.
The longtime friendship of two guys turned out to be a factor in snagging the $40-billion award from Boeing.
Americans cut back on driving, oil reaches all-time record, Virgin causes fare wars at LAX, and more SAG squabbling.
March 01, 2008
Don't expect to find out what's going on at the Press-Telegram by reading this morning's story.
Here's a reminder that despite all the turmoil in the credit markets some industries continue to do well.
© 2003-2008 • About LA Observed • Contact the editor
Gas prices are way down, DVD sales are sliding, Kaiser gets four-star rating, and no progress in SAG talks.
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