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December 31, 2010
Equities fared a lot better in 2010 than the economy, which raised the obvious question as to whether the rally was for real.
Most businesses and government offices are closed so that folks get a day off for the New Year's holiday. Why not the exchanges?
No numbers yet, but All Things Digital's Liz Gannes says it could be as much as 50 percent of the 1,100 employees.
Overall U.S. growth is down a tad, but employment has really taken it on the chin. And look at the growth in China, India and Brazil.
December 30, 2010
The bookstore chain says "there can be no assurance" that its refinancing efforts will be successful.
The thing doesn't even premiere until Saturday and already I'm overdosing.
The developer's efforts to purchase a hotel next to his Americana at Grand complex is not coming off well.
Well, a few thousand bucks, for starters. Former MySpace CEO Jason Hirschhorn offers some up-close moments.
Expectations for 2011 seem to be getting better all the time, but the predictions could turn out to be wrong.
NY Post says it was a job action by Sanitation Department employees who deliberately delayed snow-removal as a protest against...
East West Bancorp has handed over $306.5 million in preferred stock that it received from the government.
Banks are finally lending money to businesses at levels that amount to something - specifically, expansion and new jobs.
December 29, 2010
At least 69 tablets have been introduced, up from 38 in November, but Apple dominates.
The governor-elect is expected to make deep cuts in state services and knock out tax breaks and subsidies for business,
December 28, 2010
The movie company will leave the MGM Tower in Century City and lease a 144,000-square-foot Beverly Drive office building.
This morning's chat with KPCC's Steve Julian looks at the clues to next year's economy.
What will eventually become the world's largest economy goes through its hyper-charged routine.
Those look back/look forward pieces can be a colossal waste of time - though not always.
This morning's report was certainly a surprise, considering the solid holiday shopping season.
In the old days, airlines seemed to have an easier time bringing in empty planes to accommodate the passengers on canceled flights.
Amid all the encouraging forecasts for 2011, housing remains a major thorn.
December 27, 2010
An average gallon of regular in the L.A. area is now 30 cents higher than during the beginning of October.
The 50-day period between Nov. 5 and Dec. 24 saw a 5.5 percent increase in sales compared with a year earlier.
The FlightStats delay index is at 4.75 (that's on a scale of 1-5, with 5 being the worst).
Ray Patel says the Golden Key is not for sale - at least not for the $6-million being offered by the developer.
Amazon sold a record-breaking 158 items per second on Cyber Monday, Nov. 29. That's more than 13.7 million items ordered worldwide.
The tweets from stranded passengers at the NY airports are sounding grim.
December 23, 2010
As usual, Charlie Brown is depressed about Christmas, but the shrinks will tell you that the real depression takes hold on Monday, January 17.
Actually, this Happy Holidays business is barely a blip on the screen.
Cash-strapped cities could be faced with a nightmarish choice: Do they continue to pay retirees or do they continue to provide basic services?
The Water Gardens on Olympic Boulevard could be the new location for the movie company.
So far this year, Leonard Green & Partners has been involved in 15 buyouts.
Much of the increase is due to encouraging reports about the economy, but if crude keeps going up it may put the brakes on the economy.
Consumer sentiment keeps rising, today is a big shopping day, FCC chairman ready to sign off on Comcast-NBC deal, and L.A. investment firm to buy fabric chain.
December 22, 2010
That what former LAT horse-racing reporter Bill Christine claims in appealing a lower-court decision concerning a $4,000 tax bill.
It's part of the city's crackdown on pirated movies, music and knock-off apparel.
Actually, the odds are usually against you, which is why banks and department stores have switched to the single queue.
AARP found that 1.3 million people were working, or at least looking for work, in 2009, compared with just under half a million 20 years earlier.
More jobs were added between October and November than in any state, but more jobs were lost over the last 12 months than in any state.
Is billionaire Phil Anschutz actually part of the proposal being advanced by his sports empire, AEG, to build a stadium and convention center next to Staples?
The Culver City-based jeans maker, which had been stuck in Chapter 11 bankruptcy protection, had been in talks with VF Corp. for several months.
Growth revised higher, Apple and Calpers in Scuffle, Texas firms buys Union Station, and Activision hits $1-billion mark on "Black Ops."
December 21, 2010
As you might guess, it'll be more men than women, and more younger than older.
This morning's chat looks at why L.A. County's unemployment rate went up in November - even though 16,500 jobs were added to the rolls.
It's the unintended consequence of a California law that restricts the way attorneys working on loan modifications can be paid.
As of April 1, 2010: 37,253,956, up from 33,871,648 in April 2000. As you might guess, California remains the nation's largest state.
Toyota to pay record fine, strong shopping season, pricey holiday driving, and Census data will be announced.
December 20, 2010
The $1-billion contract provides an upgraded satellite communications system for the Mexican government that includes three satellites.
Standard insurance covers damage from rain, but doesn't cover damage from rising water.
It's Dennis Zine, whose lady friend, Veronica Becerra, tells the Weekly that "It's a dating situation. It's not like we're living together."
Just remember that the nation's largest carriers reported a 10.5 percent profit margin in the third quarter.
The 90,000-square-foot store on Hawthorne Boulevard lost its sweetheart lease, and the chain apparently wasn't interested in paying market prices.
Two deaths have been linked to a Bev Hills clinic that performs the procedures.
That's the day when cities and states are forced to default on debt, ask Washington for help or cut basic services like police, fire, and CHP.
Ernst & Young faces fraud charges, Silicon Valley shows strength, Web ads exceed print ads, and NFL tops all programming.
December 17, 2010
Certainly not right now, based on high vacancies and the fact that companies require less space to do business.
He had it all, but it cost a lot: Countless hours on the couch. Drug addiction and multiple times in rehab. Ulcers. My first marriage. My peace of mind.
Well, maybe not so wacky considering that the online retailer is hiring lots of temporary workers for the holidays.
November's unemployment rate jumped, but so did the number of new payroll jobs.
David Hiller left the paper in July 2008 with quite a handful of parting gifts - nearly $15.4 million in total.
The bank notified a homeowner that it didn't have all the documents needed for a loan modification. The letter was addressed to a couple who sold the apartment in 1998.
CA jobless rate unchanged but L.A.'s jumps, state's uninsured keeps climbing, travel to pick up during holidays, and city will use electric cars from China.
December 16, 2010
A procedural vote got through this afternoon, 214-to-201, and final passage could come later tonight.
Tyler Cowen argues that many of our middle-class, middle-income lives aren't that much different than those of the very wealthiest.
All this is the result of L.A. station KCET breaking off its relationship with PBS in a fee dispute.
Almost 11,000 city workers have been required to take the mandatory days off, with the LAPD showing the biggest savings.
Busiest days are likely to be this Saturday and Sunday, Friday the 24th and Sunday, Jan. 2.
Anschutz not yet committed to stadium, Planning Commission considers Korean Air towers, new MySpace-Google ad deal, and Kathleen Brown leaves California.
December 15, 2010
Inbound cargo for November was up 11.7 percent from a year earlier, while outbound was up 14.2 percent.
California has more people in the ultra-wealthy class ($30 million in investible assets) than any other state in the nation.
It's been set for Jan. 12 at the Millenium Biltmore.
NYT columnist wonders whether retribution has been inflicted upon the old man?
By a wide margin. The first vote in the House could happen tonight.
November home sales fell to the second-lowest level in 18 years, though the picture in L.A. and Orange counties was better than in the Inland areas.
The recession plays a role, of course, but the changes are more structural.
Tame inflation in Socal, Irvine Co. nears deal on big Chicago property, City Council to talk deficit - and layoffs - and more kudos for Facebook.
December 14, 2010
Jerry Brown said at today's town hall on education that, "We've been living in fantasy land."
He says middle class America has been told that they can buy a larger house than they need.
This morning's chat with KPCC's Steve Julian looks at why bringing an NFL team back to L.A. won't do much for the economy.
The basic explanation for the dismal third-quarter results is that too many other retailers are offering the same merchandise at a somewhat cheaper price.
Ron Nichols, managing director of the energy practice at Navigant Consulting in Seattle, was making the rounds at City Hall this morning.
Here's the live feed from UCLA. *Update: State Sen. Alan Lowenthal, D-Long Beach, expects Brown to propose a dire budget...
After a dismal 2009, this is shaping up to be a turnaround year at both ports.
"The King's English," which led the way this morning in Golden Globes nominations, is the favorite to take the Best Picture Oscar.
Best to avoid innovative, dynamic, motivated, among others.
Linda and Michael Morgan learned that the hard way when their reservations for the Thanksgiving holiday were dumped in favor of a contingent of Saudi princes.
Jump in retail sales, CA regents overhaul pension and health care plans, big push for electric cars, and Golden Globe nominations are out.
December 13, 2010
Developer John Semcken says the plan by AEG head Tim Leiweke to build a downtown stadium adjacent to Staples Center was a "pipe dream.
Massage therapist says he was demoted after complaining about favorable treatment given to a masseuse who was involved with the general manager.
The vote to end debate on the package means it's virtually assured that the measure will make it through the Senate on Tuesday. But that still leaves the House.
After last week's big run-up, an average gallon in the L.A. area rose only a little over a penny, to $3.256.
Fascinating stuff from Prof. Philip Zimbardo on how individual perspectives of time influences who we are as a person.
Way too soon to tell whether Federal Judge Henry Hudson (a George W. Bush appointee) will gum up the works.
The Greek tragedy continues - she thinks this is the end of the family.
Jon Regardie of the Downtown News has a nice remembrance of economist Jack Kyser, who died last week of 76.
Brighter prospects expected for 2011, fewer homeowners under water, L.A. may order lots of electric buses, and retail chain not paying bills.
December 11, 2010
Mark Madoff was said to be increasingly distraught as the anniversary of his father's arrest approached.
December 10, 2010
It's Austrian banker Sonja Koh, who is alleged to have played a central role in financing the massive Ponzi scheme.
The two L.A. billionaires are in talks with Universal to purchase Focus Features.
On the two-year anniversary of the Madoff scandal, it's worth laying out the ways to avoid getting snookered.
Here's both a cool and sobering look at the nation's housing woes, courtesy of Google Maps.
Receipts for November were 19.4 percent above earlier estimates. In particular, corporate and personal income taxes were way higher than expected.
The L.A.-based energy company is raising its dividend by 21 percent, another example of how it courts investors.
Consumer confidence improving, gas prices back up to 2008 levels, Mercury cuts auto insurance rates, and MSG to buy Forum.
December 9, 2010
They'll be running during rush hour between MacArthur Park and Centinela Avenue, with a mile-long gap in the Westwood area.
Nara Bancorp will buy Center Financial Corp. in a $270 million, all-stock deal that joins two Koreatown rivals.
The Census Bureau's latest report shows that 30 percent of all businesses in L.A. County are owned by women, or a total of 316,000.
In California, there are at least 300,000 people who will get no relief from the proposed 13-month job extension.
With the recovery slowly taking shape, when do companies start taking out their checkbooks?
Brown considers special election, more billionaires give away fortunes, state loses big with online shopping, and City Council restricts fast food restaurants in South L.A.
December 8, 2010
Purchase price turns out to be $35 million, not the $47 million that's been bandied around.
Hawthorne-based Space Explorations Technologies is the first commercial company to send a rocket and capsule into space and bring the spacecraft safely back to Earth.
The governor-elect is chairing a budget forum this morning in Sacramento.
On your marks, L.A. stereotypers: A study of 30 metro areas places Los Angeles dead last when it comes to retirement readiness.
Almost 3.5 million people in the state were collecting food stamps in September, a 17.7 percent increase from a year earlier
Not according to Federal Reserve Chairman Ben Bernanke, who tells "60 Minutes" that buying government bonds is not the same thing.
Tax deal could generate jobs, Americans don't have retirement savings, jobless checks may be delayed, and Brown holds budget summit.
December 7, 2010
She's reportedly trying to gather a group of local investors to buy out her ex-husband's stake in the team, but her ex-husband shows no intention to sell.
This morning's chat on KPCC looks at how the California economy, eighth largest in the world if it were its own country, remains potent.
The California PUC, which at one time skewed its decisions toward consumers, is much more industry focused these days.
The new three-year contract is likely to resemble the pact that actors worked out with the studios and networks.
October unemployment rates fell in about two-thirds of the major metro areas from a year earlier, but most California cities remain stuck at over 10 percent.
Extending the cuts for another two years is considered a relatively painless kind of stimulus. Same with extending jobless benefits...
Mixed bag in UCLA forecast, DWP bills could be increasing for the next 20 years, big jump in gas prices, and Schwarzenegger's last stand.
December 6, 2010
Obama agrees to a two-year extension of the Bush-era tax cuts, while Congressional Republicans agree to a 13-month extension of unemployment benefits.
Jack was the dean of the Southern California economists, quoted around the world on everything from the entertainment business to the ports to aerospace.
Deloitte's annual survey of Southern California shoppers shows that cautious spending - much of it at discount stores - remains the prevailing sentiment.
Fiji Water, the bottled water company that's part of the L.A. billionaire's empire, is acquiring Justin Vineyards & Winery in Paso Robles.
But hey, it's all right because all the rich folk are going to use their tax savings to create jobs!
Companies are hiring private detectives to go after employees who call in sick and then head off to the golf course.
It was in 1982 that the top 1 percent of income earners began seeing their share of the nation's income take off after decades of relative stability.
Borders investor interested in Barnes & Noble buyout, state lawmakers to talk budget in special session, and Michael Jackson's glove goes for $330,000.
December 3, 2010
She's starting to plug her Oprah Winfrey Network, which will debut on Jan. 1 and be based in L.A.
The $13.75 billion merger agreement, which was supposed to expire today, has been extended to March 3.
So much for the lousy jobs report - after being down slightly for much of the session, stocks rallied late in the day.
An overall disappointment in November, but perhaps not as bad as the headline numbers would indicate.
Turns out that the engine failure of an A380 last month created problems on the aircraft far worse than first indicated.
L.A. paying out more in pensions, higher health coverage in California, most HOWS markets are closing, and airport commission president resigns.
Lots of luck. The national unemployment rate rose in November to 9.8 percent from 9.6 percent, but what really surprised everybody was a paltry gain of 39,000 jobs.
December 2, 2010
A few sports honchos around town are disappointed, but like other sports extravaganzas it doesn't offer much of an economic boost.
Today was another day of encouraging signals about the economy, with stronger-than-expected retail and home sales.
Unless some bright idea comes out of Congress (I know, I know), these folks are likely to become a permanent underclass,
Almost 1,800 apartment units will be added to the downtown portfolio in 2010, or more than half of all units opened in L.A. County.
This is not a state that's in any threat of collapsing. Anyone who tells you otherwise is clueless.
A federal judge has signed off on the reorganization plan less than a month after the movie company filed for Chapter 11.
The thing is only $260 million over budget and two years behind schedule - and that's just for the first...
Food writer Alan Richman isn't wowed by L.A.'s burger scene, with the notable exception.
Shoppers returning to the stores, higher gas prices are coming, Diller steps down as CEO, and voters question initiative process.
December 1, 2010
Chapman University's consumer confidence index is at its highest point since August 2007, before the recession began.
This was the basis of a NYT profile of an online retailer whose verbal abuse of customers created such commotion that he actually moved up the Google rankings
This was a great day for anyone who believes that the recovery is really taking shape.
Turns out that during the worst of the crisis the Federal Reserve had to help out not just the big banks, but GE, McDonald's, Verizon, Caterpillar and other corporations.
It's a noticeable improvement over 2008 and 2009 - and one more sign that the economy is picking up.
Life just ain't fair - here's the superstar appearing in a 45-second ad for the Italian coffee Lavazza. And she doesn't even have any lines.
Companies added jobs last month, Socal economy slowly improving, Magic wants NFL in L.A., and local ski resorts clean up.
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