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October 29, 2010
The movie company will be reorganized in a prepackaged bankruptcy and emerge under the management of the CEOs of Spyglass Entertainment.
Satellite subscribers have been without Fox's regional sports networks, FX and the National Geographic Channel for a month.
Why not just screen everything? Well, it would be expensive and very time-consuming.
Parent company Supervalu is selling the upscale chain to an investment group led by the Bristol Farms management group and Endeavour Capital.
Developer Rick Caruso says that the bookstore chain wasn't doing well. That's not what Barnes & Noble says.
The NYT columnist says that a Republican takeover next week would be a disaster.
It always happens - an economist or stock analyst who seemed prescient in making one forecast eventually falls flat on another.
Growth revised upward, Toyota accused of keeping quiet, foreclosure sales might be slowing, and DWP workers accused of fraud.
October 28, 2010
New Rasmussen poll has Boxer up by three points, 49-46.
Just when it seemed as if the movie company and the billionaire shareholder were on the same page.
Lots of chatter today about Bill Carter's behind-the-scenes account of the Leno-O'Brien war over late night.
Do you believe in time travelers? Irish filmmaker George Clarke can't help but wonder.
There's a very long list of contributors from the Silicon Valley and other tech-centric locales.
Besides the Westside route, the MTA board also approved plans for a $1.37-billion regional connector through downtown.
The airport reported a 4.5 percent increase in domestic passengers last month compared with September 2009.
Foreclosure rates still high in CA cities, Brown takes 10-point lead in new Field Poll, MTA board considers subway routes, and MGM battle reaches final stage.
October 27, 2010
The SEC accused them of failing to disclose the size of pension shortfalls when the city sold municipal bonds.
The patient survives but then sues the doctor and paramedics for not making him as good as new. If only you hadn't meddled, everything would be all right.
If sales take off, Kimberly-Clark may introduce the line nationally and globally.
As in requiring a dance school to have a police permit, or a used bookstore to hold books for 30 days before selling them.
This may mean something, or nothing, but a monthly index that measures the confidence of folks at the higher-end rose significantly in October.
CEO Mike Jones is giving it a try with a redesign of the clunky social network site.
OC economy to improve in 2011, L.A. chamber to make business pitch at City Hall, good news for Brown and Boxer, and Fox plans another "Avatar" in 2014.
October 26, 2010
The City Council voted 13-0 to ask voters to scale back the retirement pay of L.A. cops and firefighters - but only for future hires.
NBC's Matt Lauer must have known he'd get a rise by asking the two candidates for governor if they would dump all the negative ads.
My business chat on KPCC looks at whether the investigation into how foreclosures were processed will affect the overall real estate market.
The Republican Senate is being treated with antibiotics for an infection that her aides said was related to her reconstructive surgery.
Absent the Yankees, what will matter most is how close - and exciting - the first couple of games are.
There continues to be a logjam between the beginning and end of the foreclosure process.
You're an idiot. No, you're the idiot. Hey, did you just call me an idiot?
An overhaul of the city's outlandishly complicated, 64-year-old zoning code certainly makes sense - except how do you do it?
Slide in L.A. home prices, California consumers holding back, high-speed rail gets federal help, and AutoTrader buys Kelley Blue Book.
October 25, 2010
Hey, it could have been worse: Number 55, and last, is Vegas.
It was introduced on July 1, 1979 and by the end of that August, sales had increased 10-fold.
Prices increased 2 percent from August 2009 to August 2010, giving the state the nation's sixth-highest house appreciation rate.
Some were seriously hurt by the disastrous Gulf spill, others merely grazed, and still others barely shaken - and they all want money.
The number is 600,449 for the six months ended Sept. 30, an 8.7 percent drop from a year earlier.
The bond guru at Newport Beach-based Pimco decides that his office needed a little loosening up.
B of A admits to mistakes, feds look into foreclosure filings, 226,000 Californians could lose jobless benefits, and LAT circulation falls.
October 22, 2010
You would think that $160 million (and counting) would be more than enough to handle the ever-loopy Jerry Brown.
As expected, Randy Michaels is out and will be replaced by a four-member Executive Council that will include LAT Publisher Eddy Hartenstein.
Talk about your un-level playing fields: They have higher levels of a hormone called DHEAS that often results in higher life expectancies.
Still quite weak, but the county did gain 11,600 payroll jobs between August and September, while the state overall lost 63,600 jobs.
That will be the hot trend in restaurants next year, according to an SF consulting firm.
Big job losses last month, how KCET's fortunes turned sour, $99 air fares to NY, and will Peter Chernin be moving to Tribune?
Payroll employment fell by 63,500 jobs in September compared with the previous month.
October 21, 2010
Well, at least according to this chart of Google searches - and it makes sense.
The number of new vehicle registrations increased 14.6 percent during the first nine months of 2010 compared with a year earlier.
The Nov. 4 event is being hosted by David Geffen, Robert Iger, Peter Chernin, Haim Saban, and of course Ari Emanuel, Rahm's brother.
Prepare yourself for an onslaught of postmortems about the governor did well and did poorly.
The Olympic Boulevard complex, home to a variety of movie and TV production houses, is expected to go for as much as $75 million.
Consumers stay cautious, Americans not saving enough for retirement, big Toyota recall, and LAX concession contracts approved.
October 20, 2010
Brown has a seven-point edge over Whitman, while in the Senate contest Boxer is only up by two points.
So much for yesterday's long faces - the Dow gained 129 points and is now at 11,107. Looks like the rally was pretty broad based.
San Luis Obispo was one of the nine cities named by Smart Money magazine as a good place to retire.
The airlines are benefiting from a pickup in demand and a planned reduction in supply (they call it "capacity discipline").
Sadly, it's hard to imagine that fundamental changes to the pension program will be made unless the state runs up against an actual financial crisis.
Wells Fargo reports strong earnings, another jump in L.A. bankruptcies, Brown maintains lead over Whitman, and L.A. considers Hollywood tax breaks.
October 19, 2010
My business chat on KPCC looks at why the pickup in port traffic may signal a decent holiday season.
While news events generally don't move markets, the day was loaded with icky reports.
Will Randy Michaels be sacked? Sources tell the Financial Times that it's a "foregone conclusion."
The $546-million federal loan for a light rail project to the LAX area is less a public policy achievement than a reminder of what could have been.
OC's KOCE-TV will be airing the popular "Masterpiece" series on Sunday nights at 8, starting Oct 24.
Foreclosure resales account for about a third of all Socal sales, which is down substantially from 2009 but still quite high.
This could be a very big deal if banks were required to buy back toxic bonds sold to investors.
Encouraging forecast for holiday shopping season, another bump in gas prices, Disney picks up Marvel films, and William Morris HQ up for sale.
October 18, 2010
The mega-church founded by evangelist Robert H. Schuller owes about $7.5 million to unsecured creditors.
L.A. billionaire Patrick Soon-Shiong is buying Johnson's stake in the team. No specifics so far about the size of the stake or the purchase price.
The bank has resubmitted the paperwork for 102,000 pending foreclosure actions, and plans to resume sales in November.
Very typical of Villaraigosa - it's easy to take action involving people who haven't yet been hired (and then take credit for solving the problem).
They weren't able to figure out a power-sharing arrangement that would merge the two news organizations.
After all the hype come all the concerns, starting with having to buy a $2,200 battery charger that will take eight hours to charge.
Socal vacancies shoot up, more pension proposals for L.A., California cities in search of revenues, and Leno is losing younger viewers.
October 15, 2010
Probation officials are recommending that the former KB Home CEO receive five years' probation and eight months of home confinement.
At 740-746 S. Broadway, they range from $6.45 to $12.05 per square foot per month, crazy high by downtown standards.
The former Countrywide Financial CEO has agreed to pay $67.5 million in penalties to settle the civil fraud suit against him.
Beware of cops if you drive any of these cars: Mercedes-Benz SL Class convertible, Toyota Camry-Solara Coupe, and Scion TC.
It ranks 158 out of the 200 largest metro areas surveyed by the Milken Institute, down from 139 last year.
He's now up six points over Whitman in the latest Rasmussen poll, 50-44 percent.
Bernanke signals more Fed action, no inflation adjustment for Social Security, Howard Hughes complex gets facelift, and MGM creditors want more time.
October 14, 2010
With the civil fraud trial of former Countrywide CEO Angelo Mozilo and two other former executives scheduled to begin on...
Volume slowed a bit compared with August, but both the ports of Los Angeles and Long Beach reported big jumps in import activity from a year earlier.
U.S. Bankruptcy Judge Kevin Carey is now giving the various parties, including Tribune Co. itself, a little more time to file reorganization plans.
The investors who got suckered into those toxic mortgage-backed securities might now be able to challenge the process by which their bonds were prepared and sold.
The world just keeps getting goofier - beginning January 1, 2011, McDonald locations in Hong Kong will conduct wedding ceremonies.
The average 13- to 17-year-old sends and receives 3,339 texts a month, or more than 100 per day.
There's plenty of fault to go around: Borrowers knowingly went well beyond their means in purchasing a home and lenders were ill-prepared for the inevitable fallout.
CA foreclosures increase, big changes at Occidental, trial balloon on Yahoo sale, and United to offer service from LAX to Shanghai.
October 13, 2010
As for the renewed push to modify these mortgages, the reality is that many struggling homeowners are beyond modification.
When the first miner came to the surface, CNN drew 4 million viewers, Fox News had 3.5 million, and MSNBC 1.1 million.
Depends on how you do the measuring. The sale of 11 office properties will mean $1.2 billion for the general fund, but the long-term consequences are murkier.
But I thought L.A. Live was going to turn everything around for downtown. Guess not.
Federal agents say that an Armenian-American organized crime ring based in L.A. and NY bilked health-care programs for tens of millions of dollars.
Must be quite a scene at the rescue area where the wives and mistresses of some of the trapped miners have been getting to know one another.
Apple stock tops $300, state money woes over paying jobless benefits, food trucks to be graded, and an NFL stadium on convention center property?
October 12, 2010
Hard to say. At times she seems to be pushing for aggressive reforms - but only if it doesn't involve her key supporters.
An average gallon of regular in the L.A. area is now running $3.10, a jump of 8 cents from last week.
Miguel Santana, the L.A.'s city administrative officer, is proposing a 401(k)-style pension option that would be cheaper than the current defined benefit plan.
FilmL.A, the group that monitors and coordinates on-location shooting, reports that third-quarter feature film activity fell 6.6 percent from a year earlier.
The media giant will file its reorganization plan on Friday after reaching a settlement with a group of squabbling unsecured creditors and major senior lenders.
At least there are signs of stability - third-quarter vacancy rate was 17.8 percent, down from 18.2 percent in the previous three months.
My business chat with KPCC's Steve Julian looks at the not-so-wonderful California budget deal, and L.A.'s financial crisis.
The proposed Westside subway extension doesn't quite have the same ring, but it's a lot more accurate.
More Wall Street bonuses, Republican House is looking like a lock, California might join foreclosure probe, and Pasadena approves Rose Bowl renovation.
October 11, 2010
A consortium of investment firms are purchasing 24 state office buildings, including two in downtown L.A., for $2.3 billion.
The animation studio best known for producing "The Simpsons" is being acquired by an investment group in an all-cash deal.
Good news is that receipts for September were 15.3 percent above estimates last May. Bad news is that the state has to start paying out $8.3-billion in payments owed.
One of the fellows who won the Nobel Prize for economics can't get confirmed to the Federal Reserve because a senator doesn't believe he's qualified for the job.
Economists now expect GDP to rise by 2.6 percent this year, compared with a forecast of 3.2 percent in May.
After 56 years, city officials have decided that they're not only all right, but can benefit the economy.
Fed expected to act, council members propose pension cuts, station swapping for PBS, and no major near-misses at LAX.
October 8, 2010
Among the long-term unemployed (that's 27 weeks or longer), Asian-Americans top other minority groups, including blacks and Hispanics.
Guess that means no more Sesame Street," "Nova," "News Hour," and "Antique Road Show."
First time the index has topped 11,000 since May 3, though the gain was only 58 points.
The sky-is-falling routine has been around for more than 50 years. So why hasn't it happened?
Recovery is going nowhere fast, as you can see from this chart.
The Montagues are powerful cyborgs made of artificial DNA, and the Capulets are genetically enhanced humans with super speed and agility.
This is the 48,000-square-foot home that developer Mohamed Hadid has been trying to unload since early 2009.
The nation's largest bank stop foreclosure sales in all 50 states as it reviews the way it has been handling its paperwork.
Foreclosure mess could get messier, more people eating out, more tourists visiting Mexico, and Kaiser workers stay with SEIU.
The main spending plan cleared the Senate this morning after being passed in the Assembly last night, a mere 100 days into the fiscal year.
It's hard to sugarcoat the loss of 95,000 jobs in September, considerably worse than what economists had been expecting.
October 7, 2010
The package weighs in at 800 pages, with two dozen individual bills in both the Senate and Assembly. And they're looking to vote on this thing today?
When I asked the city's chief budget officer whether massive pension obligations could result in police and fire reductions, he said, "I think it's a legitimate concern."
A new study found that women weighing 25 pounds less than the group average earned $15,572 more than their average-weight peers.
Only the Bay Area has more clean-tech activity, according to a new study, but there's concern about the business going out of state.
First Meg Whitman and now this. Next thing they'll be saying Sarah Palin doesn't shop at Wal-Mart.
Good month for retailers, Schwarzenegger reaches pension pact with union, SEC pushes Mozilo case, and new air service from L.A. to Madrid.
October 6, 2010
The association is meeting this week in Anaheim and attendance is way down from last year.
Accounting tricks, optimistic projections, and more federal money than has been promised - it all adds up to the budget deal.
Turns out that the $789 billion was indeed inadequate, But stimulus opponents have successfully re-framed the debate.
My business chat with KPCC's Steve Julian looks at the economic planks of Meg Whitman and Jerry Brown.
The 2.7-acre property is being listed for $30 million. It's being zoned for multifamily residential, hotel, retail and office development.
That's the latest projection by FiveThirtyEight's Nate Silver, and it's up from last week's 60 percent.
Here's a pretty clear snapshot of how the economy is hurting people at various income levels.
Free at last from the confines of AT&T's gawky system. Phone is expected to be released early next year.
Disappointing job news, hearings today on state budget deal, retailers are teaming up against Amazon, and more Fresh & Easy stores coming to California.
October 5, 2010
The cost to taxpayers is now down to $51 billion - and might fall even further.
The Mexican billionaire's Bank Inbursa has sold the parcel to Hong Kong private equity firm Joint Treasure International for $148.3 million.
Mike Ilitch, who already owns the Detroit Red Wings and Detroit Tigers, is in exclusive talks to buy the Pistons and the Palace sports arena.
it's worth pointing out that Californians have been discouraged before. It's what recessions are made of.
L.A.'s eccentric pop-up restaurant will be taking over the space at 13355 Ventura Boulevard in Sherman Oaks.
State budget plan about to be spun, unemployment checks to be replaced with debit cards, Televisa takes stake in Univision, and some e-books cost more than hardcovers.
October 4, 2010
Of course, if you happen to be sitting next to somebody who has a bad cold, and it's a long flight, you might be out of luck.
Government programs haven't done much good - nor are they likely to, according to the chief economist of the California Association of Realtors,
The governor can issue furloughs to state workers, the court ruled this morning.
Now I'm all for uncovering blatant misappropriation of government money, but 0.5 percent seems miraculously low for a state like California.
Encino residents deliver an open letter, via Facebook, to the L.A. developer for his decision to lease bookstore space to the drug store giant.
Looks like the system might have been hacked. Pages are showing 0 following and 0 followers. Twitter was attacked a...
S&P 500 companies are rebounding, doubts on whether state budget deal will be approved, and L.A. becomes a little friendlier to business.
October 2, 2010
The long-awaited agreement relies on $7.5-billion in spending cuts, along with delaying a corporate tax deduction.
October 1, 2010
It's worth noting that 9.5 million people received jobless benefits in 2008, so we're talking about an teeny tiny percentage.
Senate President Pro Tem Darrell Steinberg wrote in an email to colleagues last night that he was "smiling."
It's one of the highest-profile investments by TPG, and it gives Creative Artists Agency a chance to expand into new ventures.
A single large sale touched off the truly scary 600-point plunge in the Dow back in May,
The notion of obscure government entities pairing public money with private developers should send shivers down any taxpayer's spine.
WSJ survey of metro areas around the nation comes up with interesting numbers, though as with all such indexes, there are some obvious flaws.
TARP may turn profit, no more money for stimulus jobs, mortgage modification marathon, and United, Continental close deal.
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