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March 31, 2011
The governor listed seven specific ideas for ending abuses or tightening pension funding rules.
You're looking at the 5th worst metro area out of 99 in terms of increased joblessness.
One immediate, and sobering, lesson: Japanese are a lot more prepared than Californians.
Yes, it does make a difference, at least according to a study published in the Archives of Sexual Behavior.
Another dip in jobless claims, blame everyone for budget impasse, community colleges slash enrollments, and Russian billionaire buys mansion for $100 million.
March 30, 2011
Living near rich people can be a real pain - as folks north of Beverly and west of La Cienega are discovering.
Socal was heavily over-stored with these pricey retailers, and the recession has served to weed out the less successful ones.
Well, lots of reasons, from possible debt implosions around the world to volatility in the Middle East.
Worse - and that's without Sarah Palin in the race so far. Joe Klein minces no words.
Take away transfer payments like Social Security, Medicare, and health insurance and actual taxable income per capita fell 3.4 percent since 2000.
Charles Cohen had Hollywood in mind when working with architect Cesar Pelli on the 400,000-square-foot Red Building.
The Starbucks CEO will be at the Drucker Business Forum on Tuesday, April 5.
Job gains in March, cabs from LAX to cost more, stadium proposal lacks guarantee, and regime change in sight at News Corp.
March 29, 2011
So you can forget about getting a two-thirds vote for a June ballot measure.
That's the conclusion of studio executives and theater operators who are staring at a 20 percent drop in attendance so far this year compared with 2010.
The only critical voice came from Councilman Bill Rosendahl, who wondered why the city couldn't negotiate a piece of the pie from the electronic billboards revenues.
This week's chat with Steve Julian looks at the deal cut between L.A. and the city unions on health care contributions.
Dispute centers on tax shelters that are supposed to save the Broadcom co-founder from paying millions of dollars to the government.
Very funny - and Moore manages to make a compelling case for the unions - even if his claim that states aren't really out of money is ludicrous.
L.A. home prices take a dip, Council takes up lighting plan for Wilshire Grand project, lots of jobs for construction work at the ports, and it's women vs. Walmart.
March 28, 2011
That means factories will operate at reduced levels, and that means limited productivity of cars, electronic components - lots of stuff.
Yaroslavsky sounds an awful lot like Jerry Brown when he was campaigning for governor last year. Except there are key differences in the two races.
The flattening out began last week - for how long who knows.
Guess which state added the largest number of construction jobs last month? Uh-huh.
Simple - just let the Bush tax cuts expire in 2012, which is when they're supposed to.
A minimum of 13 games will come from the newly expanded conference (Colorado and Utah are being added to the lineup.)
A movie executive's job is to produce hits, right? And in the last 12 years, Horn has certainly delivered.
The Lakers and Clippers have appealed to owners around the league to block the Kings' move but aren't hopeful that they will be successful.
Checking for radiation at the ports, state Republican ranks keep dwindling, budget talks about over, and Harry & David files Chapter 11.
March 25, 2011
Actually, hedge-fund manager Steve Cohen decided to auction off the famous "Liz #5" two weeks ago.
Clearly those guys aren't interested in dealing, and Senate President Pro Tem Darrell Steinberg says he's "prepared to pull the plug"
So is next year's budget deficit $350 million or $500 million?
That's right, these are the same folks who led the bookstore chain into bankruptcy protection.
February saw a drop of 0.3 percent, to 12.6 percent, which is hardly terrific, although another indication that the worst may be over.
Consumer confidence falls, Japan tourism likely to slow, another big payday for Oxy CEO, and Montecito home sells for $27 million.
February's jobless rate was 12.2 percent from 12.4 percent the previous month, but the more encouraging news was the addition of 96,500 payroll jobs.
March 24, 2011
Californians who didn't file federal gift tax returns could face audits, penalties or even back taxes.
The three-year deal with the Coalition of L.A. City Unions would save the city nearly $400 million over the next four years.
Nearly 60 percent of the state's population is minority, according to 2010 Census data.
As part of the agreement, Henry Nicholas, the company's former CEO, will pay Broadcom $26.6 million.
The controller was all alone at Reagan National in Washington, D.C. as the pilots of two jetliners were trying to land.
Public support for Brown's plan may be slipping, California ranks 12th in per capita income, jobless claims keep falling, and new sexual harassment suit against Charney.
March 23, 2011
It's a three-month freeze that is supposed to help ease the city's $47-million deficit.
"When Taylor arrived, everyone in the place dropped the pretense of being too sophisticated to stare."
The Japanese automaker says that because of parts shortages due to the earthquake, some production at its factories in North America will be shut down.
The governor says - I think - that all budget options are on the table.
One of the more misguided decisions by the L.A. City Council - and friends, it's a long list - was placing restrictions on new fast food restaurants in South Los Angeles.
Forget about double-bagging, and no bags at all for items that have a handle (milk containers, for example).
Big cuts to Cal State system, new home sales plunge, Delta losing business on Japan, and Barnes & Noble can't find a buyer.
March 22, 2011
Waiting until fall presents some logistical problems, not the least of which is a still huge budget deficit.
Final price amounts to about $494,000 per room, which is on the upper range for an upscale property.
One explanation is that the most recent downturn was felt all over the nation.
Here's another local tech company you probably have never heard of.
This week's chat with Steve Julian looks at higher food prices and L.A.'s economic recovery.
Never mind Bernie Madoff - the most popular cons a lot less convoluted.
Well, we've just discovered what too much is in the uber-wealthy 90210 community.
Field Poll finds support for Brown, wealth gap for California schools, Anthem reduces rate hikes, and there's a Geiger counter shortage.
March 21, 2011
That, of course, assumes there are enough votes in the legislature to place the tax extension measure on a ballot.
Huh? Tax revenue of $35,000 a year and the city might be stuck paying $34,000 a month in rent?
But oil prices were up today, which suggests that there is still lots of concern about supply disruptions.
The AT&T acquisition of T-Mobile helped a lot, but things still seem kind of tentative.
This 2007 bit about how Cingular became AT&T Wireless is a pretty funny - and accurate - backgrounder on the changing faces of what was once Ma Bell.
The governor is asking voters to demand that his tax-and-cuts budget be placed on the ballot.
Writers Guild cuts deal with producers, oil prices back up, AT&T purchase of T-Mobile is mixed bag for consumers, and Expo Line gets moving to Santa Monica.
March 18, 2011
The suggested cuts and transfers are only for the current budget year. Next year the city will start off with a deficit of $350 million.
The Texas congressman tells it like it is on NPR funding and getting out of Afghanistan.
The Reporter is said to be losing a bunch of money - not a huge surprise given the tens of millions of dollars that investors have been spending.
The cost and complications of big public works projects make such a line way more trouble than it's worth.
The biggest bargains are the toppings - stuff like walnuts, almonds, gorgonzola crumbles and croutons.
CA legislators finish budget slashing for now, CEO bonuses are taking off, THR is reportedly up for sale (again), and more Borders stores to close.
March 17, 2011
An average gallon of regular in the L.A. area is $3.971, up about three pennies from last week.
Contractors will be required to use union labor on $1.5 billion in port construction projects over the next five years.
Wall Street has been headline-driven this week, and today's headlines have been generally reassuring.
The airline was all set to begin flights in two weeks, but traffic to Tokyo has taken a dip.
It's the first time that Ford's luxury brand made it to the top spot of the Westlake Village research firm's widely followed list.
That's according to the Japanese government, and if true, it could help inject water into the facility's cripple reactors.
Positive news about nuclear plant, L.A. inflation shoots up, Californians support public pension rollback, and NYT announces pay wall plan.
March 16, 2011
The mayor of Sacramento has said that a move to Socal is likely.
"American Idol" is in the top spot of the Forbes survey, bringing in $7.1 million every half hour.
Housing and unemployment remain trouble spots, but the area's overall economic activity is improving.
The Dow wound up losing 242 points - and much of the session was influenced by information that may or may not be reflecting the full picture.
It would have come on top of two other hefty rate hikes in October and January.
Since the information from Japan is so muddled or contradictory, the financial markets are jumping on most anything bad.
Spike in wholesale prices, Field Poll shows support for Brown's plan, GOP lawmakers want to trash state environmental laws, and narcs raid marijuana businesses.
March 15, 2011
Still no sign that Gov. Jerry Brown has made any headway in convincing a few Republican lawmakers to support his plan.
Since L.A. area ports handle about 40 percent of the nation's container activity, the sluggish numbers would suggest a slowdown in export activity.
Perhaps it's not that surprising to see confusing and often contradictory comments from Japanese officials.
This week's chat with Steve Julian looks at the effects of the Japanese earthquake on U.S. business and the economy.
Nothing much happened in February, as buyers and sellers keep biding their time.
The company we all love to hate has come up with a free download that allows customers to watch live TV on their iPad.
Quick video showing earthquakes in Japan between March 9 and March 14.
Today's radiation scare is likely the last draw for countless numbers of expats.
Stocks getting hammered, supply shortages due to quake, Calpers corruption is alleged, and bleak picture for Brown.
March 14, 2011
But, er, didn't Japan just experience an 8.9 quake?
How much further will prices increase if refineries in California decide it's more lucrative to increase their shipments to Japan.
Emergency efforts to pump seawater into one of the reactors has failed, increasing the risk of an uncontrolled release of radioactive material.
The L.A. billionaire unloaded his full-floor Fifth Avenue apartment for $8 million after originally asking $15 million more than two years ago.
Key point: That state and local pension funds are underestimating their liabilities, and that some funds could run out money within the next few years.
That's what Assembly Republican Leader Connie Conway said this morning on radio station KMJ.
Stocks remain shaky, no break in CA budget talks, Borders plans to exit bankruptcy by fall, and KCET ratings are plummeting.
In the first hour of trading the Dow is down about 50 points, which is not too bad considering that the Tokyo market plunged 6 percent today.
March 11, 2011
Five flights are scheduled to leave LAX little after midnight tonight, according to the airport's flight information service.
Various snags will hold up service for the full run from downtown L.A. to Culver City.
Blogger Susannah Breslin says it's just dumb luck - and I must say she has a point.
The higher stock price this morning means that investors are betting on a better bid than $19.09.
Japan's debt burden is so severe - 200 percent of annual economic output.- that it's unclear how much the nation will be able to do.
Just as a precaution, they were temporarily suspending the transfer of hazardous materials.
Airlines cancel flights to Japan, oil prices fall below $100 a barrel, 99 Cents Only Stores gets buyout offer, and Dov Charney lawsuit is stayed.
March 10, 2011
He expects to make a decision within a month. Let's hope he takes a good, hard look at his prospects.
It's people like Bruce Malkenhorst, the infamous retired city administrator of Vernon who pulls down $520,000 a year in benefits.
The Dow tumbled 228 points to fall below 12,000. It was the biggest drop since last October.
Talks with a splinter group of Republican senators appear to be continuing.
In a nutshell, by being rich and well-connected.
L.A. County remains the top manufacturing center in the country. But...
State budget vote put off, Californians more gloomy, pot dispensaries ordered closed, and AOL announces layoffs.
March 9, 2011
The governor says he's making some progress in negotiations with Republicans and would like the legislature to delay its Thursday vote.
Who would thought that an indescript manufacturing plant in Valencia would be home to one of the more important music companies in the world?
WSJ survey finds that of the 50 venture-backed companies that have the best chance of succeeding, 35 are in California.
California's $25-billion budget deficit is not going away, but at least the state coffers are looking a bit better. Controller...
The reviews aren't great, but demand is vastly outstripping supply for GM's electric car.
It's emblematic of a city that's unwilling to make tough decisions for the benefit of everyone, not just the ones shouting the loudest.
Turns out that the networks are recognizing that the 55+ crowd make up a large part of their viewers.
Gloomy job picture for California, Freedom Communications bids coming due, NPR CEO forced out, and USC gets largest gift ever.
March 8, 2011
Lawmakers in Sacramento preparing are to eliminate redevelopment agencies as early as Thursday.
The five GOP senators who declared an impasse in the budget talks don't sound optimistic, but the governor reports some progress.
The L.A. developer finally reached an agreement to buy the Golden Key Hotel, which is where he wants to expand his shopping complex.
Counties and cities grew sharply since the 2000 Census.
The alleged victim is seeking $260 million in damages from the CEO of L.A.-based American Apparel - and her former boss.
Netflix is especially vulnerable to such an incursion.
Redevelopment supporters (many of whom have their jobs on the line) are threatening to sue if they don't have their way.
This week's chat looks at the efforts at requiring a sales tax to be placed on online purchases and whether gas taxes should be raised.
Brown's budget plan in jeopardy, new smoking restrictions in L.A., paperwork filed for downtown stadium, and Oprah's new network ready to reboot.
March 7, 2011
That's a big economic loss for the Mexican resort city, but drug violence is getting a little too close for comfort.
Meanwhile, oil futures were trading in NY at over $105 a barrel, with little sign that prices were peaking out.
Keep in mind that McDonald's is still tops when it comes to sales (the chain reported $24 billion in revenue last year).
The governor needs two Republicans in each house to support his budget package.
A five-week review found no reliable means to measure the impact of redevelopment activity on job growth.
Oil and gas keep climbing, investors still skeptical about stocks, California has high start-up rate for businesses, and Mattel closes Barbie store in Shanghai.
March 4, 2011
This time it's the Bay Area Council, which voted this afternoon to endorse Brown's budget proposal.
From Calculated Risk. The line hovering at the bottom is where we're at. It's moving up, but ever so...
Poor neighbors.
Why exactly Google is involved in such far-afield technology remains a curiosity in Silicon Valley, but it's sure fun to watch.
Already 87, he is exceptional health - and he's not afraid to proselytize on the importance of a healthy diet.
Compare January's 0.1 percent drop in unemployment for L.A. and California with a 0.4 percent drop for the U.S.
Oil prices back up, grocery workers contract expires on Sunday, more questions about downtown stadium, and Sacto mayor says Kings' move to Anaheim is likely.
The outlook might even be better than is reflected in the numbers.
March 3, 2011
If prices keep going up - and more importantly, if they stay up - the recovery becomes jeopardized.
CEO Allan Zaremberg told reporters that a comprehensive budget solution "is good for the economy,"
The big drop in jobless claims apparently got the ball rolling - as did a slight drop in the price of oil (though gasoline prices keep going up locally).
We would all be shocked and appalled - except that when it comes to government, we have come to expect the worst.
Best Buy, Sears, and the Gap are among the chains looking to save space however they can.
Jobless filings fall sharply, Brown talks to Republicans about deal, DirecTV's plan freaks out theater owners, and Council dabbles at cell phone cut.
March 2, 2011
Less than a quarter of Americans want to cut Social Security or Medicare, according to a new WSJ/NBC News survey.
The changes would only seem to apply only to new hires, which wouldn't do much to stem the underfunding of pension benefits for current employees
Jimmy Kimmel shows you the way, with Scarlett Johansson, Jessica Biel, Eva Longoria, Sofia Vergara, Jessica Alba, and Lindsay Lohan.
The elephant in the room is the deficit of $350 million (that's on top of the current $54 million.)
The Apple CEO gets a standing ovation as he walks onstage in SF.
The top dog at investment giant Pimco says that once the Fed's quantitative easing program is completed, bond yields are likely to go higher.
A few hundred employees from Kaiser Permanente's Los Angeles Medical Center are on picket lines this morning for a 24-hour strike.
Big job gain in February, Republicans talking to Brown (sort of), Apple updates the iPad, and Jaime McCourt wants to see her husband's books.
March 1, 2011
The four-seat FF is the first Ferrari with four-wheel drive. It'll set you back $359,000.
Still lining up the financing. (h/t Daily Dish)...
This was a classic case of the markets ignoring the encouraging past and focusing on the worrisome future.
Controller Wendy Greuel, who plans to run for mayor, proposes a 60 percent reduction in the number of phones issued to city workers.
The former Connecticut senator becomes chairman and CEO of the Motion Picture Association of America, Hollywood's trade group.
This week's chat looks at efforts to get a tax extension measure on the ballot, and next week's vote on Measure G, which would cut back on L.A. pension benefits.
From the next to last line of an obit in the Houston Chronicle.
GM's much-anticipated electric car gets good marks for being quiet and well-equipped, but it's not much of a money-saver.
Bernanke concerned about oil, California is third-toughest place to find work, Blue Shield says rates are reasonable, and Dior sacks designer over Hitler comment.
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