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Today's better-than-expected U.S. home sales report seems to have provided a boost for the L.A.-based homebuilder. Not that many economists are placing much stock in the report - "We should not read too much into the one-month bounce," says Global Insight's Brian Bethune - but it doesn't take much to get Wall Street excited about a bottoming out. One of these days. Now the not-so-great news: A large fire that broke out this morning at a five-story condo complex under construction in Warner Center turned out to be KB Home's Ascent 191-unit development. Apparently, damage was confined to a wing of the complex. (LABJ, Thomson Financial)
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Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.