May 2 - May 8, 2010
Saturday, May. 8
The business about how a trader mistakenly entered an order for $16 billion instead of $16 million has been pretty much ruled out,
Friday, May. 7
Budget chief Miguel Santana says that L.A.'s financial mess is improving, and that it would be foolish to file for bankruptcy.
Still more than two hours to go in the session. Anyone for Paxil? *Just a few minutes before the closing bell, the Dow was down 164 points....
The state controller's office is still trying to figure out how April tax receipts were $3.6-billion below expectations.
Every hear of the Minerals Management Service? It's the tiny government agency that is supposed to oversee offshore drilling, but really doesn't.
No it's not the crazy stock market - it's the Goldman Sachs annual meeting.
Markets remain shaky, fat-finger trade theory not holding up, Council looks at Villaraigosa/Riordan rumble, and Boeing workers in Long Beach talk strike.
Government reports an increase of 290,000 jobs in April, but the news isn't all good.
So far traders are brushing aside the strong jobs report for April, with the Dow down 30 points in early trading.
Thursday, May. 6
The current mayor isn't exactly thrilled with comments by the former mayor about the city's deteriorating finances.
Here's what can happen when your fingers are too fat. Earlier: So what happened?...
What was building into a bad day turned outrageous, with a 550-point tumble in the space of five or 10 minutes.
Dow is down about 270 points with 10 minutes to go. *CNBC is reporting that a trading error at a major firm is being blamed for the market plunge. Story developing... A possible culprit for the drop was a trader error in which someone entered a "b" for billion instead of an "m" for million in a trade. Multiple sources confirmed the report to CNBC and CNBC.com...
You're read right. The index just sunk like a rock over or so over new concerns about Greece. It's been starting to recover, but is still down 500 points on the day....
Even in these bad economic times, there are plenty of folks in Russia, China and the Middle East who have huge amounts of discretionary cash.
At least when compared with, say, London's West End where office space last year went for $183 a square foot.
Retailers stumble in April, Hispanics hit hard during recession, summer travel will be tough, and C-17 workers in Long Beach reject contract.
Wednesday, May. 5
A City Council committee voted 3-1 to take the namby-pamby approach by supporting a four-month prohibition on rent increases.
Red states are the heaviest users (no comment), green states the lightest, and purple in the middle.
The Bev Hills philanthropist was one of early high-tech financiers, selling Scientific Data Systems to Xerox in 1969 for $1 billion.
One of every five men 25 to 54 isn't working - and WH adviser Larry Summers says that it five years it'll be one in six.
Sarah Palin's latest gem. Here's to 'merican oil.
The rest of the year will be solid, but look out for 2011 and 2012 when the federal stimulus packages begin to phase out.
L.A.'s former mayor anticipates that the city will likely declare bankruptcy between now and 2014.
Better odds on finding work, movies cost more, DWP finally pays up, and Cal Worthington gets loan to stay in Long Beach.
Tuesday, May. 4
The celebrated "Nu au Plateau de Sculpteur (Nude, Green Leaves and Bust)," sold in NY tonight for $106.5 million
The folks at News Corp. are no doubt pleased about a big boost in operating profits at the film and TV unit. But what about net?
Debt worries in Europe are being cited, but there have been warnings for weeks that stocks were due for a fall.
This latest round of discussions has been going on for a couple of months, according to NY magazine.
Some chains are starting to charge for Internet access, storing bags and cutting short scheduled stays.
Stocks take another tumble, plunge in CA tax revenue, governor drops oil drilling, and L.A. to start shutting pot shops.
Monday, May. 3
This time, it's a $2-billion offering from the California Department of Water Resources.
Transit projects always face delays. The more complicated the project, the more lengthy the delay. Just see what's happening with the Expo Line. As posted by Curbed LA, Phase 1 of the light rail project from downtown to Culver City was supposed to be up and running this summer. But design and legal holdups have pushed back the opening by at least 58 weeks (you can be sure it will be a lot more)....
The chairman and CEO of Goldman Sachs acquitted himself quite nicely on Charlie Rose.
And you thought California was in trouble.
More jobs are a plus, of course, but prison employees usually live some distance from the facility.
Today Wall Street chooses to believe that the economic glass is half full instead of half empty.
There's just a little overlap on routes (Honolulu and Houston stand out), and United is by far the bigger local player.
Try spending some time in Greece, where tax evasion is practically a national pastime.
United-Continental deal announced, iPad sales top 1 million, Hollywood Video shutting down, and council lapses on DWP called "staggering."
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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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