May 10 - May 16, 2009
Friday, May. 15
April container traffic at the Port of L.A. fell 12.1 percent from a year earlier, while the Port of Long Beach saw a 21.7 percent decline.
Still a fair amount to sort out, but federal prosecutors are looking into whether two SEC enforcement lawyers violated insider-trading laws.
Lloyd Grove doesn't pretend to know whether the media-made billionaire really plans to go after the NYT Co. But he does know how Geffen manipulate journalists.
Gannett is shutting down the Citizen, Arizona's oldest continuously published daily newspaper, though the online version will keep operating (without news coverage).
GM dealers getting the word, C-17 lives on (probably), Alameda Corridor traffic tumbles, and not as many Mexican migrants come to the U.S.
Thursday, May. 14
It's understandable considering that $3.7 billion worth of debt is due in July 2012 (and interest payments are running $250 million a year). There's lots of restructuring talk.
And then crashing. In the world of finance, those who can, do. Those who can't become business writers.
Too bad the Daily Journal is still so hard to access without a subscription because the newsroom will often come up with strong pieces that get very little attention.
Look for an end to the recession by August, according to the latest WSJ survey of economists, but it could be several more years before we see a full-bore recovery.
Weren't they supposed to be dead? Weren't the networks going to rachet down the number of pilots they produce? Guess strategies change pretty fast in TV land
Several local Chrysler dealers to be dropped, court hours might be cut, SEC staff wants to charge Countrywide's Sambol, and Fox ends fewer commercials program.
Wednesday, May. 13
His interest in buying a stake in the NYT Co. is described by BW as "the hottest topic on two coasts." Huh? The one-time media mogul is a master at manipulation the media.
Dressing down, even in big city locales, is the way to go these days. Anything NOT to look like a banker. Of course, it does require a new wardrobe.
The planned Selma and Vine location is being shelved until the market takes a turn for the better. It's not a huge surprise considering the company's weak financials.
Staff at the Securities and Exchange Commission will recommend filing civil fraud charges against the former Countrywide CEO.
California foreclosures fall from previous month, port traffic taking a big dip, L.A. investor pleads guilty, and Vegas going back to "What happens here, stays here."
Tuesday, May. 12
Singapore has become the location of choice for one of the largest fleets of ships ever gathered. They are stuck there because the shipping business is just so slow.
Drastic budget cuts at the two Hollywood trades will result in drastically reduced coverage of the film festival. It's emblematic of how far Variety and THR have fallen.
At last check it was trading at $1.10 a share, the lowest it's been in 70 years. Several insiders have finally decided to bail, which explains why the stock is down 23 percent.
The city of Santa Monica cannot prohibit certain kinds of private jets from using its airport. A federal appeals court left in place a preliminary injunction sought by the FAA.
Nissan reports first loss in a decade, L.A. gas prices shoot up, Bruckheimer tries videogames, and trouble looming for Live Nation/Ticketmaster deal.
Monday, May. 11
April home sales for L.A. County are way up from a year earlier, while median prices are way down from a year earlier.
The one-time Hollywood mogul offered to buy a 19 percent stake in the NYT Co. held by hedge fund Harbinger Capital Partners, but no deal was struck.
Postage rates go up, L.A. is eighth-priciest place to rent, "Idol" keeps raking in the cash, and DirecTV may be on the block.
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The funeral for Mark Lacter will be held Sunday, Nov. 24 at 12 noon at Hillside Memorial Park, 6001 W. Centinela Avenue, Los Angeles 90045. Reception to follow.
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