Archive by Month
March 31, 2009
All right, it's a little on the gotcha side, but doesn't the absence of U.S.-made cars parked at the White House speak volumes?
Leo Nordine has been tapping into the lucrative foreclosure market, although he seems to roll with whatever happens to be hot in real estate.
Bulls and bears duke it out, L.A. home prices keep falling, Disney cruises to L.A., and Karatz pleads not guilty.
March 27, 2009
Main Street people are a lot happier - and a lot more tempted to buy a sweater - if the Dow is up 400 points rather than down 400 points.
The L.A.-based homebuilder reported a first-quarter loss of $58.1 million, somewhat improved from the net loss of $268.2 million a year ago.
Candy Spelling is selling her French chateau-style mansion for the modest sum of $150 million (well, modest by Washington standards).
March 26, 2009
Excluded from the filing is the company's 35-story 717 W. Ninth Street residential tower project currently under construction.
I'm in deadline frenzy on a couple of projects, so very light posting through next week....
The controversy reflects the ineptitude of city officials in regulating signage and not the aesthetics of the billboards themselves.
March 25, 2009
The stimulus plan should focus on homes, cars, retail and restaurants because that's where most of the damage has come from.
Stocks keep climbing, UCLA economists see continued high unemployment, bond sale a success, and Dov Charney on a buying spree.
March 24, 2009
Nobody knows, everybody is guessing, and the economy hangs in the balance. Cocktails anyone?
Americans have been consuming growing volumes of Mary Janes, Tootsie Rolls and Gummy Bears, and it's being tied to the recession.
Nothing like 6 percent yields - tax-exempt - to get the attention of investors, especially when you can hardly get half that with a CD.
The big question is whether this marks the end of the bear market, or at least the beginning of the end. There's a case on both sides.
March 23, 2009
Scrap metal prices fall, feds seize credit union, and appelate court nixes parts of ports plan.
The Treasury Secretary announces the Public-Private Investment Program, which will provide $500 billion in financing to buy toxic bank assets,...
March 20, 2009
Publisher Terry Horne says they'll be happening over the next few weeks, across all departments, but no number was given.
February unemployment in L.A. County was 10.9 percent, a half point higher than the revised 10.4 percent level for January.
Travel and tourism way down, Southwest sparks fare war, Ticketmaster loses big, and Countrywide sues AIG (no joke).
March 19, 2009
When people are looking for scapegoats, the letter of the law apparently takes a back seat.
With Santa Monica Boulevard closed off this morning, there was really no point trying to get anywhere, so I just pulled over.
Some AIG executives return the money, SD paper is bought on the cheap, still no action on billboards, and downtown developer gets sued.
March 18, 2009
Still seems like long odds (Obama just affirmed his confidence in Geithner), but he's clearly on the watch list.
Buying the Union-Tribune will give Platinum Equity much higher visibility, which might be unfortunate for founder Tom Gores.
February's drop in Long Beach was even worse than at the Port of L.A. (and that was pretty awful).
The Federal Reserve will purchase an additional $750 billion worth of government-guaranteed mortgage-backed securities.
AIG CEO getting grilled, Madoff's accountant charged, California ranks last for business, and Zucker defends CNBC.
March 17, 2009
After lackluster trading for most of the session, the Dow finished the day up 178 points, to just under 7400.
The AIG mess doesn't exactly help the already precarious state of the Treasury Secretary's tenure.
February's median price in L.A. County was $299,000, a 35 percent drop from a year earlier. Sales jumped 32.4 percent.
Big gift for Music Center, fraud cases decline, jobless benefits bill is defeated, and layoffs at WGA.
March 16, 2009
Tomorrow will be the last printed edition of the Seattle Post-Intelligencer, which will become a Web-only publication.
Mattel's claim to a $100 million judgment and the rights to the popular doll could be in question.
Getty Trust cuts budget, Clinton leaves Burkle partnership, MGM Mirage on chopping block, and Caruso might go after Santa Anita.
March 15, 2009
Officials had warned of serious declines in inbound traffic, but I’m not sure anyone was anticipating a drop of 35.3 percent.
March 13, 2009
Countrywide purchase looking good, Stewart crushes Cramer, big shakeup at Fox, and American Apparel to sell 20 percent stake.
March 12, 2009
Her effort to get government money for OneUnited Bank is the latest slant on questionable conduct that's been going on for years.
As the swindler awaits sentencing on June 16, he'll be put away in the 12-story Metropolitan Correctional Center in lower Manhattan.
The L.A. congresswoman is under fire (sort of) for her outlandish and long-standing conflicts involving OneUnited bank.
"I am actually grateful for this opportunity to publicly comment about my crimes, for which I am deeply sorry and ashamed," he tells judge.
Big climb in foreclosures, parking lot king in trouble, Tom Hanks tries to restart SAG talks, and Vegas getting hammered.
March 11, 2009
Last year there were 1,125 of them in the world. Today there are 793, according to the latest Forbes numbers, just out this afternoon.
The WSJ's L.A. bureau is losing a few staffers, the Seattle P-I could close next week, and the Miami Herald cuts 19 percent of its staff.
Madoff Securities International appears to have been at the center of the swindler's money laundering activities.
Market cooling down, Riverside's Fleetwood Enterprises files Chapter 11, Disney investors turn down pay plan, and age bias claims increase.
March 10, 2009
For many motel occupants, such as the Hayworth family, this is their last chance before hitting the streets or a shelter.
“When you’re constantly told you’re great... it’s hard to escape the feeling that success is your natural right,” he warned USC graduates.
So why is Bernie forgoing a trial or a plea deal? One day we'll get the skinny, but for now the move has caught many by surprise.
As for today's big gain, all I can say is be afraid - be very afraid that a brief run-up will lead to an even bigger sell-off.
The money guys from "This American Life" will headline a live stage show on April 19th at the Broad Stage in Santa Monica.
Stocks gain some ground, cities grapple with drop in property tax collections, Disney gets downgrade, and gas back up.
March 9, 2009
It's looking like Wednesday will be the final print edition of the Seattle Post-Intelligencer. At least that's the latest semi-informed guess.
Even by L.A. standards, it's an oversized repository of ridiculous wealth, home to movie stars, athletes, and a plastic surgeon or two.
New concerns about credit markets, Buffett says economy has "fallen off a cliff," and lawmakers wine and dine during fiscal emergency.
March 6, 2009
Here's another case where an unwillingness to change with the times has doomed the best of intentions.
Day by day, it’s becoming dreadfully apparent that this downturn will result in a fundamental restructuring of many U.S. industries,
Stocks are fading, classic response to Karatz indictment, I-News at the Daily News, and Sabans help restore Wilshire Theatre.
February's numbers pretty much match the bleak expectations of economists. It's another sign of a slow recessionary slog.
March 5, 2009
The feds are accusing Bruce Friedman of operating an "ongoing fraudulent investment scheme" involving at least $17 million.
The former CEO of L.A.-based KB Home is charged with conspiring to defraud the homebuilder and shareholders.
The Dow fell 281 points, to 2594. Citigroup closed at $1.02 (at one point it was actually trading at under a dollar!).
The Daily Journal is reporting that the former CEO of Countrywide Financial could soon face civil fraud charges.
The Linens ’n Things name and Internet domain has been purchased by a couple of investment firms. The plan is to resume an online site.
The tea leaf reading cannot be encouraging to those wanting to see the voter-approved ban on same-sex marriage be overturned.
The L.A.-based firm is letting go 90 lawyers, or 10 percent of its workforce. As at other firms, the area most likely impacted is transactions.
Many months into the financial collapse, some numbers still take one's breath away. As in Citigroup at $1.04 a share and GM at $1.83.
Doesn't CNBC know that just about the worst thing you can do is agree to appear on "The Daily Show" and then back out?
GM auditors raise warnings, stocks back down after yesterday's gains, Wal-Mart hangs tough as others struggle, and THQ cutting costs.
March 4, 2009
The L.A. aerospace giant will consolidate its administrative staff in Redondo Beach and El Segundo. But it's also hiring.
Supporters of Measure B, the solar panel initiative, thought their side was going to win late last night. Surprise!
Don't want to speak too soon, but with an hour or so to go the Dow is up more than 200 points.
The San Diego-based fast food chain is announcing a new logo and the makeover of more than 2,000 restaurants.
Market tries comeback (again), biz-related measure goes down, Manny deal could be close, and El Centro is Ground Zero for recession.
March 3, 2009
The Calabasas-based firm that buys up delinquent home mortgages was started by the former president of Countrywide Financial.
We're not even at the "show me" stage, where there's at least an openness to consider the possibility of a turnaround.
Is it possible that more than 80 percent of the league's 30 teams have no realistic shot at winning the championship?
Market struggles to recover, big drop in local gas prices, Hayward solar company strikes deal, and Live Nation reports another loss.
March 2, 2009
There’s practically zero confidence of a breakthrough in the economy any time soon. No confidence, no reason to buy stocks.
The problem isn't really about bum mortgages or overpaid executives - it's about a nation that's drowning in debt.
Nobody wants to reenter the market because the prevailing view is that things will get worse before they get better.
Dow falls under 7000, local ports keep struggling, grocers take aim at food companies, and car dealers have hit the skids.
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February was a strong month at the Port of Los Angeles, with overall container traffic up 27 percent from a year earlier.
More From Mark Lacter:
If one word had to be picked to sum up the 2009-10 season in Pac-10 men's basketball, it might not be a word. It would likely be more of a groan or a sigh. The conference, which has won the championship 15 times (11 of them by UCLA), has not had a year to remember.
L.A. socialites should prepare themselves for both laughter and tears at upcoming events around the Southland. Comedian Kathy Griffin will be feted at the Human Rights Campaign Gala and she will have a few choice words to share, no doubt. Senator Barbara Boxer is also scheduled to speak.
The Clippers should look for an innovative new GM instead of a big name.
After 22 years of loyalty, Baylor is unceremoniously shown the door.
Amazingly, the city community building meeting room was filled with anti-spending cut protestors at the inconvenient hour of 6 p.m. Wednesday, and the stars of the evening were the students from Lincoln High School.
A Service Employees International Union local is trying to work out a partnership with Los Angeles County to assure good care for patients at the new Martin Luther King Jr. hospital when it opens.
