Trump helps out McMahon

The Donald has agreed to buy Ed McMahon's Bev Hills house in what’s described in the LAT as "an act of benevolence." McMahon, you see, defaulted on his mortgage and is being sued by a Huntington Beach lender and his former lawyers for nonpayment. But billionaire Trump tells the Times that helping out Johnny Carson's sidekick, who he remembers watching on late-night TV, "would be an honor." The six-bedroom, five-bathroom house, which has been on the market for about two years, was initially listed at more than $7 million, but at last check was going to $4.6 million. The idea is for Trump to buy the house and lease it back to McMahon. I wouldn't hold my breath on those rent payments.

More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner

Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook