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Instead of premium increases of up to 39 percent, insurer Anthem Blue Cross is now asking for a maximum rate hike of 20 percent.
LA Biz Observed archive
Mark Lacter covered business, the economy and more here from 2006 until his death on Nov. 13, 2013.
The entire LA Biz Observed archive — more than 10,000 blog posts by Mark —
remains online and available.
June 2010
Head of the L.A.'s Planning Department is leaving after four-and-a-half years.
Wall Street kind of fell apart in the last hour or so, with the Dow closing down 96 points, to 9774.
City Council approved a new store in Hollywood, and the retailer is also looking to add stores in other locations.
Dr. Patrick Soon-Shiong gets another big payday with the sale of Abraxis BioScience, the L.A. biotech firm he founded,
Eleven of the 13 metro areas in the U.S. with jobless rates of at least 15 percent were in California.
This isn't the 1930s, but some lawmakers are doing their best to bring back the bad old days.
Recession hits workers hard, foreclosures make up more than half of all home sales, new hope for jobless benefits bill, and port workers and LAX janitors ready to walk.
This time it's the state Fair Political Practices Commission that has opened an investigation.
They do next to nothing to spur job growth, and they're costing the state around $500 million a year.
Index is now at 9870. Is all this a prelude to the June jobs report coming out on Friday?...
The downtown sports/entertainment district was honored by the Los Angeles Business Council at its 40th Annual Architectural Awards.
Bev Hills-based RealD, which develops 3D movie-screening systems, is looking to raise about $161 million.
Meanwhile, stocks show little sign of gaining ground. Dow is off about 270 points.
Stats have been very confusing of late because so much depends on location, but in general the uptick in L.A. has been limited.
Consumer confidence plummets, CA lawmakers heading home (without budget deal), staying closer to home on the Fourth of July, and Oprah back on top.
Trading is expected to begin tomorrow. Company is looking to raise up to $185 million.
Tax cuts and the wars in Iraq and Afghanistan will account for almost $7 trillion in deficits in 2009 through 2019.
It's four stories, 91,257 square feet, and 121 dressing rooms, the largest retail venue in Manhattan devoted to a single brand.
It's actually called "The Social Network" and it's based on the Ben Mezrich novel (screenplay is by Aaron Sorkin). Movie is set to open Oct. 1....
The high court only ordered a technical change. There has been speculation for months that the court would overturn the law.
Consumers demanding discounts, jobless giving up car leases, SEC investigates KB Home, and Broad files permit for new art museum.
But the mayor's top lawyer says Villaraigosa obeyed all rules when receiving free tickets.
OSHA specifies that the cases be completed within 90 days, but in California it takes more than 400 days on average.
I'm always amazed at the crazy stories that hiring managers tell about the applicants who come through their doors.
The co-founder of two Internet companies offers up 15 telltale indicators that things are not going well.
Guess how much money was involved in the jobless benefits bill that the Republicans killed?
The instant analysis stuff doesn't work very well for such a complex piece of legislation - and one that's still hazy in a number of areas.
New help for consumers and new restrictions on banks. But there's a lot of business as usual.
Add everything up and you're talking $120,000, give or take. Notice a pattern here?
Head scratching on financial reform, no help for long-term jobless, movie futures trading could be dead, and Villaraigosa releases ticket records.
"It brings the couture world back to denim," says the L.A.-based designer. Fine, but will anybody buy them?
Burkle holds a 6 percent stake, a credit deal has been amended, and more stories on how sexist the place is.
The government's tax credit program expired April 30, and it was obvious that there would be a dropoff in sales. The question has been how big a dropoff?
A group that includes NY Mayor Michael Bloomberg and Disney CEO Robert Iger, want to see an easier path to legal status for undocumented immigrants.
Eliot Spitzer writes that the Wall Street and BP calamities share a common thread.
It's bested Goldman Sachs and Toyota as the most detested company in a new poll.
Nation on the skids, CA legislation pushes alternative energy, MGM and Lions Gate are talking merger, and dudes lining up to buy a new iPhone.
The case could be resolved soon, but that will depend on a report concerning the circumstances behind the 2007 buyout.
The average American aged 15 or older was working 17 fewer minutes a day in 2009 than in 2007. Guess how they're spending the time.
Central bank tempers its view of the U.S. economy, indicating that rates could remain at a record low until next year.
An ad from a 1964 Radio Shack catalog is a little reminder of the advances in electronics - as well as the changes in society.
AP is reporting that Gen. David Petraeus will replace Gen. Stanley McChrystal as the top Afghan commander....
With the Census winding down, many of those temporary positions are already disappearing.
An estimated 17 percent of of Latino homeowners and 11 percent of African-American homeowners have lost their home or are at imminent risk.
Calpers loses big on BP, November ballot initiative would delay greenhouse gas law, good reviews for iPhone 4, and Griffith Park tops in location shoots.
Hollywood types are closely monitoring the results because it's a potentially huge revenue source.
They're expecting a much better summer season than a year ago, led by visitors from Asia and the Middle East.
It's hard to imagine there are chief executives more inept than BP's Tony Hayward when it comes to securing good press. But just in case...
Making any inquiry more difficult is the apparent lack of documentation on who paid for the tickets and their financial value.
The Academy Award winner was doing research in preparation for his role in "Margin Call,"
The governor, Assembly Democrats and Senate Democrats all have different ideas on how to handle the $19.1 billion deficit.
Obama gets middling grades, lead bidder emerges for MGM, CPK cuts quarterly forecast, and OC pharmaceutical company founded by Milan Panic is acquired.
Wonder if they trucked in these Alabama beachgoers......
Looks like war is at hand as Barnes & Noble and Amazon try to compete with the iPad (wonder what happened leading up to Father's Day?).
ave cut then cut the price of its basic Kindle model to
Today is the deadline for comments on cable giant Comcast's acquisition of NBC Universal.
Here's a look at BP's annual review of world energy that shows the U.S. once more leading the way in oil consumption.
State workers are piling up overtime, Michael Jackson's financial mess looking better, Royal Caribbean giving up on L.A., and Sam Nazarian takes over Hollywood hotel.
Attention L.A. business owners: Don't expect to get much done on Monday. A few of your employees will be coming down with Laker flu.
One of the familiar local names in big screen TVs and home theater systems will be shutting down within 60 days.
Every single critic on the Rotten Tomatoes Web site -- all 134 of them -- gave "Toy Story 3" a positive review.
Great move by the those budinskis in CA state and local government to take aim at Arizona's new immigration law.
That's the new minimum wage at KFC China -- and it's a 30 percent increase over what workers had been making.
Gold keeps climbing, Lockheed braces for cuts, state fails in collecting fines, and AEG Live could be looking for a partner.
The May jobless rate was 12.4 percent, down a bit from a revised 12.5 percent the previous month.
Jason Hirschhorn leaves the struggling social networking site. Co-president Mike Jones is expected to become CEO.
Two nighttime images of our fair city. So how much better off are we now? Lots.
Feds say that investors were promised short-term returns of up to 130 percent annually so that earlier investors could be paid off.
The Weekly found numerous medical-marijuana dispensaries that were supposed to shut down as of June 7 but remain open.
The high court ruled that supervisors may read an employee's text messages if there are suspicions that work rules were being violated.
That's the price range on Qantas going roundtrip between L.A. and Sydney on board the world's largest passenger jet.
Next to no inflation in L.A., banks starting to add checking fees, tomatoes are plentiful and cheap, and Eli Broad agrees to giveaway.
That's what Facebook COO Sheryl Sandberg is predicting. Of course she's not exactly a disinterested observer.
For 90 percent of L.A. County's homeless population, public costs average $710 a month. For the rest, it's $8,083.
The Disney CEO is testifying this morning in a $250 million dispute with the UK creator of "Who Wants to Be a Millionaire."
When you're interviewing for a job, is it all right to inflate your current pay, in the hopes of getting even more?
It's not quite the same as a moral hazard, but the results are much the same:
Check of ticket brokers and other outlets this morning shows that they're running anywhere from $12,500 to $60,000.
Proposal to raise FDIC limits, state looks at health care hikes, coffee prices could be going up, and Disney relaxes its theme park dress code.
The folks in Sacramento are a little late in getting the thing done. All right, a lot late.
Still bouncing around for reasons that aren't very clear. It's the third 200-point gain this month, which would be nice if it weren't for the losses.
Production types nervous about the public's waning appetite for the well-worn, whether it's a sequel or an adaptation of an old TV series.
These things typically don't have a great track record. Heck, if it were that easy to jobs, wouldn't the idea already have come up?
The county's median price was $345,000, up sharply from $329,500 in April and $300,000 from May 2009.
Ad spending to grow (slowly), DWP might sell assets, Tesla going public at the end of the month, and Best Buy misses its number.
Growth over the next three years will be slower than the nation as a whole, according to the Anderson Forecast economists.
eBay employee claimed that Whitman became angry about something and forcefully pushed her.
He's the former moneyman at L.A.-based TCW who is accused of having pot, hardcore porn and sexual devices in his office.
Will LA County District Attorney Steve Cooley will ever get into the Villaraigosa ticket scandal?
Disney's CEO was watching Saturday's ad-free match between the U.S. and England.
The chief economist of the Economic Development Corp. of L.A. County will be leaving at the end of June.
Car sales slower than first thought, city proceeds with layoffs, E3 Expo opens downtown, and are Weinsteins back in the hunt for Miramax?
A double-dip recession still seems unlikely, but the mid-year forecasts I've been perusing are not very encouraging.
Thursday night's game delivered an 11.6 overnight rating, the highest of the series so far and a 6 percent boost from last year's Game 4.
It's tough to expect any improvement in the health of Americans when these monstrosities remain on fast-food menus.
The latest proposal by the L.A.-based fashion chain is to take a 40,000-square-foot slice out of the huge Sears store at South Coast Plaza.
May imports increased 12.5 percent from a year earlier, another sign that consumers have started to buy again.
May retail sales tumble, Greuel not naming names, NY might issue IOUs, and taxpayers could be getting their GM money back.
U.S. companies are holding more cash in the bank than at any point since 1963. This is not great news.
Upper-income Americans spent an average of $145 a day in May, which is the highest monthly average since November 2008.
Ironically, the loss of two seasons of postseason play might be the least of the financial costs.
The U.S. and Canada saw a 15 percent increase last year in the number of seven-figure households.
Mixed bag on CA foreclosures, mortgage rates near all-time low, reviving California Adventure, and Boeing labor deal is approved.
I've seen the recession odds at anywhere from 15 percent to 30 percent, more or less where they've been for some time.
Looks pretty even at this point, though a lot could depend on this summer's budget squabbling in Sacramento.
C'mon, it's vacation time - why not splurge a little? As in the Ty Warner Penthouse at NY's Four Seasons Hotel.
The L.A. location is run under a licensing agreement with Anschutz Entertainment Group and thus won't be among the restaurants being shuttered by Disney.
Everybody knows about Jack Nicholson (and now Antonio Villaraigosa), but here's a sampler of other folks lucky enough - and rich enough - to sit right next to the action.
Charitable giving slips again, no nurses strike on Thursday, more Californians lose jobless benefits, and WSJ may start L.A. edition.
Fascinating progression of the human race over the last two centuries, based on life expectancy and income.
Would you believe $1,245.60 an ounce? Four years ago, when the financial world seemed so carefree, it was $543....
Nicholas Carr says the Web has changed our cognitive circuitries - and not in a good way.
State officials are preparing a court order this morning to prevent a one-day walkout on Thursday by 12,000 nurses.
The emotional response to a disaster can sometimes block out everything else. That appears to be happening in this case.
L.A. job prospects not great, Waters says Comcast tried buying her support, local gas prices move higher, and more questions about BP's future.
Nothing like providing as much information to as many people as possible, even while waiting in traffic.
The Princess talks about living at the Waldorf when she was a kid (was?) and how she crashed bar mitzvahs.
L.A.-area sporting event revenues fell 18 percent in 2009 compared with two years earlier, as attendance declined and ticket prices fell.
California's $19 billion deficit might get larger because Washington money that the governor had been counting on is looking shaky.
The banking company will pay $108 million to settle charges that the loan servicing business collected excessive fees from homeowners.
That's what the swindler supposedly said after one of his fellow inmates kept badgering him about all people he scammed.
Tentative deal in C-17 strike, small rise in May home sales, 430 L.A. pot shops must close today, and latest iPhone to debut.
This is how a computer model sees the oil spreading well into the Atlantic....
Or thereabouts. The index is now under 10,000 on a day that looked bad from the opening bell.
How else do you describe a process in which supercomputers calculate stock prices a fraction of a second before other investors see the numbers?
Last night's opener pulled a 10.4 rating, up 17 percent from 2009's Lakers-Magic series.
The current recession shows a huge job loss - biggest of all the post-war recessions - and only recently a weak upturn.
More talk about jobless recovery, hopeful news on oil spill, betting on Madoff money, and Paige Rense leaves on a sour note.
May employment report raises concerns that the private sector is getting skittish again about the economy.
Economists now expect OC to lose 18,000 jobs this year instead of an earlier forecast of a 1,000-job gain.
No word yet on where he's sitting, but I've got a hunch it won't be in the rafters.
All those students who have seen their tuition go up must be thrilled to hear about this.
This is the Malibu Colony property that was taken over by Wells Fargo - or more precisely, a Wells Fargo executive.
Still confused with what's going on? John Clarke and Bryan Dawe lay it all out.
Plastic bag ban looks likely, feds still eying Live Nation, drug cash disappears in Mexico, and "Titanic" is coming out in 3-D.
That's somewhat encouraging compared with other parts of the state. U.S. employment report comes out Friday.
But the positive cash position "does not indicate the state's cash flow is beginning to rebound along with the general economy."
Bruce Friedman will never be as notorious as Bernie Madoff, but federal authorities discovered that he held the same line of work: scamming people.
The increases aren't quite as impressive as they might seem because they're based on easy year-earlier comparisons.
The Apple CEO says, "I don't want to see us descend into a nation of bloggers myself. I think we need editorial more than ever."
Cheaper pricing for iPhones, report that NBC's Jeff Zucker is out, FDA approves Amgen's osteoporosis drug, and will oil leak last until Christmas?
We could greatly minimize the losses from a destructive earthquake, but the price would be too high.
The average resale price for Game 1 on Thursday is $1,071, according to price forecaster SeatGeek.com
Former career counselor tells Andrew Sullivan that they're mostly a waste of time, unless you have a very specific technical skill.
Founder of Tesla Motors has run into money troubles and is living off personal loans from friends.
Now that Al and Tipper have announced their separation, they'll have to deal with the $8.8 million Montecito home.
If ever there's an example of why city governance is a lost cause, a $19 million loan to CIM Group is it.
That's what the creator of the quiz show "Who Wants to be a Millionaire" will be claiming in federal court.
Still worried about debt, bad news at the box office, iPad sales hit the 2 million mark, and Chinese Amway reps hit U.S. shores.
Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.The multi-talented Mark Lacter
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