Archive by Month
September 30, 2009
The cable giant is apparently interested in buying the entertainment giant, The Wrap reports.
Early word is that the Bank of America CEO just got worn out from all the investigations and litigation.
The Stater Bros. chain is offering a 14-day supply antibiotics to anyone who presents a prescription. With or without health insurance.
He believes the housing turnaround is real, but he also expects the market to move mostly sideways for a loooong time.
A real estate valuation firm expects L.A. home prices to increase a measly 2 percent over the next 12 months.
Big lender on the brink, Harbor Commission approved waterfront overhaul, McCain delays C-17 vote, and L.A. gets snubbled on list of hip cities.
September 29, 2009
The state's reliance on boom-or-bust annual revenues doesn't make for stable budgeting so the governor wants to overhaul the system. Lots of luck.
Will Business Week be sold to Bloomberg? Might another bidder emerge with a better offer? Good luck trying to figure this one out.
New Census data shows that while California reported a drop in second-quarter tax revenue, so did a bunch of other states.
Pickup in L.A. home prices, big decision for San Pedro, 100-year Ponzi sentence, and Newegg is going public.
September 28, 2009
The car rental giant was one of 20 companies identified by an L.A. research firm as most likely to declare bankruptcy within a year.
More fallout from Countrywide VIP program, another victim of downtown slump, and airlines add surcharge on holiday flights.
September 25, 2009
Big fire this morning at Tesoro oil refinery in Wilmington is already pushing up wholesale gasoline prices by almost 21...
Oaktree Capital, the huge L.A. investment firm that's led by billionaire Howard Marks, just picked up a cool $1 billion.
SF-based parent UnionBanCal gets a $2-billion infusion, which was called "voluntary and pre- emptive."
What's amazing is that one of the homeowners interviewed last year still hasn't heard from his lender.
The co-CEO of talent agency giant WME isn't thrilled with the firm's planned Bev Hills digs that are still under construction.
Consumers more upbeat, battle royal at MGM, SAG turns moderate in elections, and no more "Nudes, Nudes, Nudes."
September 24, 2009
The messaging Web site is clearly looking to play catch-up with Facebook - and in the process make the company more attractive to potential advertisers.
When you're stuck on an airplane for hours and hours and the cabin smells like a cesspool, don't count on the carrier for any help.
There are still some givens when it comes to the most expensive and least expensive homes.
Relief for home buyers, CA saves a few bucks on bond sale, Kerkorian revelation in Pellicano case, and Citi might beef up in L.A.
September 23, 2009
Ike Perlmutter was granted 1.27 million in stock options just a few weeks after his subordinate began informal talks with Disney.
Katie Couric's annual salary at CBS is more than the entire annual budgets of NPR's "Morning Edition" and "All Things Considered" combined.
Among the (yucky) judging criteria: Wear and tear, age, and stains. Winner takes home 100g's.
With Goldman trading today at about $186, Warren Buffet's warrants are now valued at more than $3 billion - a 62% return on his year-ago investment.
Growth is what it's all about, right? Well, no - not according to a provocative study by two Nobel prize-winning economists.
Holiday jobs scarce, skimpy yields on CA bonds, Obama carries Letterman, and paring down Alaska cruises.
September 22, 2009
California's Attorney General filed suit against investment adviser Stanley Chais, who directed hundreds of millions of dollars of investments to Bernie Madoff.
One of Sonny Astani's signature developments is in bankruptcy after the project's construction lender, Corus Bank, was seized by federal regulators.
ABC cuts back on ads, coalition pushes for transit improvements, drop in SFV foreclosures, and Erin Brockovich returns.
September 21, 2009
Good news is that occupancy rates are holding up pretty well. But more guests come at the cost of lower room rates.
About 100,000 fewer foreign-born people were living in the U.S. in 2008 compared with a year earlier, the first such decline since at least 1970.
Those are folks who abruptly and intentionally walk away from a mortgage, even at the risk of lousing up their credit scores.
At some point the credit market will improve and long-stalled developments will get going, but bankers are likely to be very stingy.
More on Dick Cook's exit, Nazarian slows down pace, new claims involving Marvel characters, and Whole Foods considers check ban.
September 19, 2009
Conventional wisdom has the recovery being protracted, but a minority view expects a much stronger rebound. It's worth paying attention to.
September 18, 2009
The chairman of Walt Disney Studios, who steps down effectively immediately, reportedly told staff that he felt he was a square peg in a round hole.
The executive producer of "ER" and "The West Wing" takes over as president of the guild, defeating former "MASH" and "Frasier" writer Elias Davis,
Kind of a misery loves company thing when it comes to the August jobs picture.
This makes the county and state one of the nation's bleaker areas for employment - not nearly as bad as poor Michigan but still pretty bad.
LAT reports that city officials are scrambling this morning to salvage an early retirement program that would take a nibble...
FHA's cash squeeze, CA regulators may pull the TV plug, update on Danny Pang's death, and Steve McQueen's ranch is for sale.
September 17, 2009
Only modest upgrades are planned for the outdated World Cruise Center, and there's ongoing opposition to a larger Outer Harbor terminal.
CA's Attorney General is looking into whether Moody's, Standard & Poor's and Fitch violated state law when they gave high ratings to shaky assets.
White House decision to focus on ship-board missiles could be good news for defense contractor Raytheon and its many local suppliers.
Investors fret over stock rally, Council signs off on job cuts (sort of), more passengers get bumped from planes, and fuel tanker battle is renewed.
September 16, 2009
Ronald Sugar, who is 61, leaves his post before the company's mandatory retirement age of 65 (a little unusual but not totally out of the box).
The precious metal is now trading for $1,018.90 an ounce, another record closing high. A drop in the dollar is to blame.
I'll be on KCRW's "Which Way, L.A." tonight, talking with Warren Olney about the latest report from UCLA's Anderson Forecast....
Senate Finance Committee Chairman has managed to come up with a 10-year, $856 billion bill that all sides are finding fault with.
The cost of washing soot-stained clothes is 1,914 pounds on a single day, at a cost of $1 a pound, plus $2,150 a day for washers and dryers.
Health care plan already bashed, L.A. council ponders shortfall, white collar cases faltering in SF, and hooray for chicken feet.
There's this nagging concern that the government's tax credit and highly attractive terms for FHA financing are propping up the housing sector.
UCLA's Anderson Forecast points to an improving housing picture, as well as a pickup in manufacturing. But the big downside is employment.
September 15, 2009
The import situation remains pretty awful - in L.A., down 19.3 percent from August 2008 and in Long Beach, down 11.7 percent.
We speak of the now-infamous home in the Malibu Colony that was being used by a now-former Wells Fargo executive.
The unusual sales dip from July to August could be the result of fewer foreclosed homes on the market.
But Federal Reserve Chairman Ben Bernanke said it would be many months before unemployment rates would drop significantly.
L.A. in budget trouble, mayor's pal beats out DWP in land deal, hospital files Chapter 11, and lukewarm reviews for Jay's debut.
September 14, 2009
This is the one who was spending weekends in a Malibu beach house that the owners had to give up because of losses incurred in the Bernie Madoff fraud.
Local organizations that provide food, shelter and health care and that have come to rely on foundation money are now scrambling.
Look back on anniversary of Lehman's collapse, no word on cause of Pang's death, and Mercury News columnist asks readers for help.
September 11, 2009
There's lots of concern in Silicon Valley that the tech biz may never regain the levels of a few years back.
The recession from hell has put most of us in a decidedly non-champagne mood - and the industry is feeling it bigtime.
Lobbyists take charge in Sacto, L.A. budget in trouble, Leno on the cheap, and Starbucks location is saved.
September 10, 2009
Would you believe that an L.A. Wells Fargo executive has been spending weekends in the $12 million Malibu beach house that its owners had to give up?
That would be 9900 Wilshire, what was to be their luxury hotel/condo project on the site of the old Robinsons-May Department store in Bev Hills.
The media giant is a surprise last-minute entry. Final bids on the business weekly are due next week.
New Census figures show that the typical American household made less money last year ($50,303) than in 1998 ($51,295).
CA foreclosure rate still high, rich are getting poorer, Madoff coached potential witness, and downtown property files Chapter 11
September 9, 2009
Whole Foods is launching a line of kosher poultry beginning next week, just in time for the start of Rosh Hashanah.
The Apple CEO came on stage this morning in SF and delivered his first public comments since returning to work following a liver transpant.
Bet you never thought we could get sex and the name of an electric utility in the same headline, did you?
Gold trading around 1K an ounce, Obama to push for public option, local gas prices are up again, and CA economy is improving.
September 8, 2009
PIMCO CEO Mohamed El-Erian thought that after the Lehman collapse there was a chance the banks might not open. That's how scary things were.
It's taking under a month to buy a home in Aliso Viejo, at least based on available supply and recent purchases. In Laguna Beach, it's 11 months.
Juggling those work balls may seem like a great way to enhance productivity, but Bruce Weinstein says it only allows you to do more things badly.
The average California long-term muni bond fund has risen 14.8 percent this year, better than the total return of the Vanguard 500 Index stock fund.
The bridge opened shortly before 7, in time to catch much of the morning rush hour.
Too many people who should know better are falling for this viral nonsense. Then again, we live in a world of hate, innuendo and blame-gaming.
August housing numbers are still solid, Murdock and Dole facing cash crunch, merchants unhappy over parking meter hikes, and deciphering the summer box office.
September 4, 2009
Friday's jobs report had very few surprises - and in a way, that was the disappointing part. Perhaps we were looking for a few encouraging signs.
Lighter Labor Day travel, Macerich sells Denver mall, Hilton hotel workers push for union, and As the Broadcom Turns.
August jobs report generally falls within the econsensus estimates; economist Mark Zandi puts it this way: "The job market is in for a slog."
September 3, 2009
There's Angelo Mozilo and Jimmy Cayne, of course, but what about Nancy Pelosi, Viagra, Botox and the BlackBerry?
Firing of American Apparel workers offers a reminder of how indiscriminate the immigration laws continue to be. And just don't break the law in Phoenix!
Inquiring minds want to know more about the SEC's incompetent handling of the Madoff case.
Jobs cut over immigration status, SAG staffers got pay raises despite budget woes, HMO turndown rates in CA, and is Mrs. Puck the next Bill Gates?
September 2, 2009
As faltering growth begins, that catch phrase keeps popping up among pundits and economists - even if no one understands its ramifications.
SEC watchdog has found that three agency exams and two investigations of Bernie Madoff's business were not competently handled.
We're seeing a few signs that local projects put in the deep freeze due to financing problems are being thawed out.
Don't be fooled by better retail numbers this fall. They only look good when compared with 2008.
Supermarket price wars, life after clunkers, CA debt sale is set, and Bette Davis condo for sale.
September 1, 2009
There's lots of nonchalance down in Baja for a powerful storm that will be hugging the coastline through tomorrow.
The 50 largest construction projects in L.A. County have a combined cost of almost $10 billion, though much of the financing came before the recession.
The owner of the OC Register cited debts of more than $1 billion and assets of $500 million to $1 billion.
The star of "Everybody loves Raymond" returns to TV in a new TNT drama that will be shot locally, thanks to the state's tax credit.
More M&A talk in Hollywood, gripes over fire coverage, BofA offers to return a little bailout $$, and Toyota accused of concealing evidence.
© 2003-2009 • About LA Observed • Email the editor
CBS and ABC have far bigger fish to fry - namely whether their stations can get back the auto and retail advertising that fell off a cliff in 2009.
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