Caruso, mall owner settle

General Growth Properties, which has been struggling to restructure its mountain of debt, has reached a $48 million settlement with developer Caruso Affiliated Holdings. That's considerably lower than the $89.2 million that a jury awarded Caruso for compensatory and punitive damages in 2007. The case goes back to 2004 when, according to Caruso, General Growth threatened a Cheesecake Factory restaurant that was considering a lease at Caruso's American at Brand shopping center in Glendale. The Caruso center is next to the Glendale Galleria, which is half-owned by General Growth. Because the settlement is less than what was set aside for the jury verdict, General Growth's bottom line will be increased by 19 cents a share. The company can use the help: It’s in the hole to the tune of $27 billion and a bankruptcy filing is possible. (WSJ, LABJ)