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The Hawaiian legislature is close to passing a measure that would increase tax credits for shooting films and television shows.
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.
April 2011
State officials have downsized their estimate to 37.5 million (as of Jan 1, 2011) after being at odds with the U.S. Census numbers.
Looks like the gloves are coming off as the mall's owner, General Growth Properties, must keep pace with Rick Caruso's Americana at Brand.
This may seem pretty obvious, but the truth is different recessions will treat income groups in different ways.
Gas prices inch higher, McCourt warns of cash crisis, Assembly votes to dissolve Vernon, and Aetna scales back rate hikes.
A total of 1.5 million U.S. businesses were owned by people of Asian origin in 2007, up 40 percent from 2002.
Music video helps explain why Washington is in near-gridlock these days.
The historic theater is being purchased by Don Kushner and Elie Samaha.
Seems hard to believe. Check that, seems impossible to believe.
The Bev Hills billionaire met with Sacramento Mayor Kevin Johnson in L.A. earlier this week.
The team's new vice chairman is pushing his efforts to make the stadium more fan friendly.
That's almost a fifth of the investment losses for the nation's state retirement systems in fiscal year 2009, according to the Census Bureau, another reminder of the state's massive - and unfunded - pension obligations. All of the state public employee retirement systems lost money in 2009, but California lost the most. From press release: The nation's state retirement systems totaled $2.0 trillion in holdings and assets in 2009, a loss of $641.3 billion (24.0...
The professionals are basically saying, don't worry, the recovery is still happening. Others aren't so sure.
In the world of Antonio, there are no checkbooks, at least the ones with his name at the top.
Growth is sluggish, jobless claims take off, baseball officials deny McCourt claims, and Californians oppose extending taxes.
Here's another fine mess that Villaraigosa has gotten us into.
This is the long-term TV agreement that Dodger owner Frank McCourt had been counting on to bail him out of his huge debt loads.
That's the pathetic part of this morning's release of the Obama birth certificate.
The deal would have union members forking over 4 percent of their salaries.
The central bank believes that the recent run-up in oil prices will subside and inflation was not an immediate concern.
Well, what do you expect? Beef prices have jumped 11 percent from last year, and fruits and vegetables are up 4.3 percent.
L.A. is most polluted area, McCourt visits MLB executives, county supervisors approve Marina developments, and LAX names concession winners.
We're talking about $100 million in buildings, land, cars, and cash.
Parent company News Corp. is seeking bids of at least $100 million - far below the $580 million that the media giant paid for the social network site
This week's biz chat looks at California's weird recovery and the continued stalemate in the state and local housing markets.
Wall Street is sticking with the glass half full position, despite worrisome signals that the recovery might be slowing down.
The deal would include a daytime talk show plus exposure across all the network news platforms.
With a shortfall of more than $400 million, I just wonder whether Wendy Greuel might want to chase bigger game.
L.A. home prices take a dip, Brown still floundering over budget, city sues low-income housing developer, and Kings could move to Anaheim after all.
Stock in the L.A.-based retailer (and home to the irrepressible Dov Charney) jumped 27 percent today... to $1.58 a share.
John and Marion Anderson have given almost $42 million to the school, named in their honor.
Frankly, there's no way of knowing whether this is a pause or a peak - the experts are split.
The former president of the Texas Rangers will monitor the club's business and finance operations.
The gap between existing home sales and new home sales points to the continued abundance of distressed properties.
Not a great business to be in, even with a slight recovery at hand.
Dan Wuebben was celebrating his 32nd birthday with his investment banker pal John Belitsky when they hatched this crazy idea.
Paying a bit for health care coverage might seem a reasonable alternative to losing work time. But many city workers don't even have to worry about furloughs.
Support for cutting public pensions, Hancock settles on death benefit claims, big jump in venture funding, and plane rupture tied to Boeing assembly.
MPG Office Trust defaulted on the loan for Two Cal Plaza and filed notices of imminent default on the Wells Fargo, Gas Company and US Bank towers.
Best case 10 years, worse case 15 or 20 years, says the CEO of Hawthorne-based SpaceX.
Well, at least under the current system. An emergency room physician lays out the obvious (but often unappreciated) conflict
In L.A. politics, you're only as good as your lobbyist, and John Ek is a good one.
it's worth remembering that Commissioner Bud Selig had signed off on McCourt's highly leveraged, highly questionable purchase in 2004.
Gas prices increase slowing down, California coffers filling up, American Apparel dodges another bullet, and DWP offers rebate for charging electric cars.
Baseball commissioner Bud Selig was concerned that McCourt would use the money from a 20-year deal with Fox to cover his personal liabilities, not operate the team.
It's bumper to bumper below the LABO perch on Westwood Boulevard.
No need to raise it - just promise to pay off investors first, and after that whatever she and the other nut jobs consider important.
The Maloof family is running into some serious pushback on its planned move to Anaheim.
Here's a very insightful assessment of how our state governance got to be its current dysfunctional self.
Whether a strike actually gets called is another story.
A federal court jury in Santa Ana rejected the toymaker's claims that it owned the idea for the popular Bratz dolls.
Soboroff says McCourt can "pay the piper," Californians rate the economy, state workers didn't repay state loans, and perhaps a new high-rise in Century City.
Steve Soboroff sure didn't. Hired just yesterday as the team's vice chairman, he had told reporters that McCourt's financial situation was a "nonissue,"
*updates at the bottom Wowser -- Commissioner Bud Selig has seized the club from Frank McCourt, announcing that MLB will oversee all aspects of the business and the day-to-day operations of the team. "I have taken this action," Selig said in a statement, "because of my deep concerns regarding the finances and operations of the Dodgers and to protect the best interests of the Club, its great fans and all of Major League Baseball." Selig...
The Dow hit a three-year high, gaining 186 points to close at 12,453.
Is Villaraigosa betting that he can get away with a nip-and-tuck approach to deficit reduction for the remaining two years of his term?
The biggest immediate threat, according to a new report from JPMorgan, would be a run on money market funds.
In the case of the Dodger owner, he just borrows against the team's ticket revenue and other assets.
New rules for airlines, Villaraigosa to release budget, Riordan to endorse Beutner, and proposal to cut welfare costs in L.A. County.
Cuban says he is "just testing the waters" and wouldn't sell "unless the offer is very, very compelling."
His title is vice chairman and it sounds like his marching orders will center on being, well, the anti-McCourt.
Not quite a convenience store and not quite a supermarket, the F&E stores continue to be a headache for its British parent, Tesco.
Not if the filings are down because of various holdups within the mortgage industry.
The state has become too reliant on the personal income tax, and L.A.'s tax holiday for new businesses doesn't help anybody else.
Lots of dealmaking these days involving deep-pocket investors and countless startups.
I've tried to steer clear of his nonsense, but ABC's George Stephanopoulos seems to have made a few dents in the Trump armor.
Hiring day at McDonald's, no budget woes for L.A. County, transit projects threatened by budget cuts, and LAX modernization benefits economy.
Anschutz Entertainment Group will sell a parcel just north of the J.W. Marriott hotel.
We're talking about the Chandler family, former CEO Dennis FitzSimons, and of course hedge funds and money managers.
The greater the demand, the higher the price.
As in 20 or 30 years - or until all city debt related to the project is paid off.
The impact of past oil shocks has been bigger than the numbers alone would suggest.
Before we get too carried away, it's worth remembering what S&P did. The ratings agency lowered its outlook for U.S. debt, not its actual rating.
The pickup is slower than in other parts of Southern California.
The idea is to make the port deep enough for a new generation of larger ships.
Stocks take sharp drop, Socal commercial real estate starts to come back, air fares are on the rise, and downtown stadium deal won't reach council for a year.
Actually, Allen comes off somewhat mealy-mouthed when he's asked about the episode.
The league will extend its relocation application deadline from this Monday to May 2 so the city can line up ways to keep the team. "We don't know if it's real or pie-in-the-sky, but we'll knock ourselves out finding over the next few weeks," Stern said. But he added that Southern California would be able to support a third franchise if a decision is made to move the team to Anaheim. How the Kings' owners,...
Now that Austin Beutner is off to run for mayor, I'd imagine that business will no longer be priority one.
L.A. County's unemployment rate fell to 12.3 percent in March from 12.6 percent the month earlier and 12.9 percent in January.
L.A. inflation picking up, U.S. taxes at historic low, Brown to seek fall tax vote, and billboard company gets sued.
Haven't we had about enough? More importantly, hasn't Charney had enough?
Not that the team is for sale, but the L.A. billionaire did emerge today as wanting to keep an NBA team in Sacramento, whether it's the Kings or some other franchise. Burkle came forward after Sacramento mayor and former star forward Kevin Johnson made a final plea to league owners to keep the Kings from moving to Anaheim. From Bloomberg: Burkle's group wants to keep a franchise in Sacramento, Johnson said. "This is not meant...
L.A.'s first deputy mayor is submitting papers to the City Ethics Commission.
Still, I'd be surprised if they weren't able to cut a deal. This is not a great time to be striking.
The vote was 260-167, with 59 Republicans breaking ranks. The bill will now move to the Senate, where it's expected to pass quickly.
The L.A. billionaire is a sports nut.
L.A. had a good month - Long Beach not so much.
Mostly it was a matter of criminal investigators not getting assistance and documentation from regulators.
Well, it's more like apple juice concentrate, which looks like molasses but when mixed with water creates the apple juice that most of us buy.
Big drop in L.A. foreclosures, California might be holding back jobs recovery, Sacramento Kings to present relocation request, and what city was Villaraigosa talking about?
They're called "cookies," and apparently it's been a common practice at some of the city's ritziest hotels.
The three Socal airports had been using only one air traffic controller in the off hours, but now the FAA is bringing on an additional controller.
The L.A. developer has handed over the 23-acre North Hollywood site to a commercial lender and investment trust.
More media properties for the former Lakers superstar and the Bev Hills billionaire.
His proposal is certain to please almost no one - a combination of budget cuts that the left doesn't want and tax increases that the right already calls a non-starter.
Some folks are claiming that politics factored into the decision.
We're talking monster size - the world's largest non-tanker ship, with nine decks and 540,000 square feet of deck space.
March home sales in L.A. County jumped almost 40 percent from the previous month, but fell 2.3 percent from a year earlier.
Obama pushes budget plan, Villaraigosa talks education rather than budget, California sees jump in long-term unemployed, and Univision to add two channels.
The 92-year-old audio pioneer recently made a splash with his purchase of Newsweek.
This week's biz chat with Steve Julian looks at the Dodgers and whether owner Frank McCourt can hold on.
NASA's decision will be a big deal for the local tourist industry, perhaps making the shuttle one of the most popular visitor destinations in California. The Endeavor will be displayed at the Science Center, which is located in Exposition Park and billed as the West Coast's largest hands-on science center (the Mercury, Gemini and Apollo spacecraft are already there). As for the others, the Discovery will be displayed at the National Air and Space Museum's...
The A380 slams into a Delta commuter jet last night at JFK. Nobody was hurt.
Eating two pieces of candy each workday without cutting calories elsewhere or exercising more will cost almost 25,000 calories a year.
He's now talking about running as an independent - and if that happens, he could upend races in any number of states.
Unfunded liabilities for the California State Teachers' Retirement System now total $56 billion, up $15.5 billion.
Carmakers warn of shortages, shares of 99 Cents Only Stores take off, fired construction chief gets year's pay, and NYT loses readers since pay wall went up.
He'll be leasing studio and office space at the MBS Media Campus.
Ouch - an average gallon of regular is $4.19 a gallon, up almost a dime from last week.
Photos shot roughly every two miles between take-off and landing in Paris.
"I would not minimize the risk to our country and to our state," the governor tells CBS 2/KCAL 9 political reporter Dave Bryan.
She wears miniskirts practically up to her crotch, and can be so emasculating that it took one employee months after leaving the firm to have sex again.
Economy to gain momentum, county might get involved in downtown stadium plan, state jobless claims fall, and Dov Charney scrambles for cash.
Government shutdown is averted, but no one comes off looking very good.
CNN is reporting that negotiators are focusing on a proposal to keep the place running for three more days.
A source says the company is on track to lose as much as $10 million a year. Nonsense, says owner.
The deal that seems to drag out forever is finally getting done.
In separate deals worked out with the city's Ethics Commission, they'll pay a combined $13,300.
Whoever is handling the estate is asking $1.88 million for the 2-bedroom, 2.5-bath unit at The Wilshire building.
Cutting back on beer sales, which everyone knows is largely to blame for the increasing unruliness, would eat into Dodger revenues.
Prospects on this thing have been bouncing around for several hours.
Oil and gas keep rising, pension woes were ignored by local government, possible freeze on health care contributions, and Saudi prince withdraws mega-mansion plan.
Nobody has the foggiest idea of how the business side of marijuana legalization would play out.
Once more, there's no ability or interest in anticipating trouble - just reacting to it.
March was a lousy month for California's coffers, with total receipts coming in at $370 million below estimates.
City Controller Wendy Greuel found that the utility was more lucky than good in securing 20 percent of the city's power needs from renewable energy last year. "The DWP only achieved a 20 percent renewable energy portfolio due to abnormally cool temperatures and higher than expected wind at department-owned wind farms," Greuel said in a letter accompanying the audit. From the LAT: Standing next to Greuel at a morning news conference, DWP General Manager Ron...
The federal suit alleges that the firm misrepresented its size and poor financial condition.
The state has 140,000 federal workers, although it's unclear how many of them would be considered essential to the workings of the nation.
Emptier shopping malls, bleak prospect for Borders, Google is coming to Bev Hills, and a new home for THR.
More folks figure that homes have become affordable, which should lower demand.
Shows that Republicans are not at all satisfied with the usual suspects, and that a dark horse could still easily emerge.
Wow, this will create quite a stir: The measure would eliminate guaranteed pensions for all new hires except for police officers.
The L.A. County supervisor wants no part of an arrangement that would compel MTA contractors to use union labor.
Which airports are relatively cheap or relatively expensive to fly out of?
No date set for the final show, though Beck's contract with Fox ends in December.
Howard Schultz, speaking at the Drucker Business Forum, says that tighter state and local budgets require companies to do more.
A proposal to slash almost $6 trillion from the federal budget is likely to stir up some interest.
Boeing miscalculated on cracks, Dish Network wins Blockbuster, McCourt asks commissioner to approve loan, and Sofitel scraps helipad plan.
This week's biz chat looks at how executive pay is on the rise again and why women business owners have a tough time expanding their operations
Kind of a neat 1:38, so long as you're not in the middle of the mess.
Feature films were down 5.3 percent in the first quarter, television down 3.7 percent, and commercials up 2.4 percent, according to FilmLA. Overall location shooting was actually up 4.7 percent, but only because of gains in smaller areas like music videos. Just seems like a sluggish stretch - commercials are coming off 18 months of strong activity, TV reality shows are off a bit, features are weak across the board. From press release: "The latest...
The deadlock comes on the same day that the Republicans proposed a long-term budget plan that would involve $5.8 trillion in cuts over 10 years.
The power coming out of this baby would only be rivaled by the Saturn V that went to the moon.
Healthy economy? No. Healthier than generally assumed? Apparently so.
GOP plan to balance the budget, American begins LAX-Shanghai service, KB Home reports another loss, and Chase keeps expanding in California.
The carrier is making $271 million worth of improvements that will include additional gates and a baggage screening system.
Most likely it's just a pause, considering that oil rose again today.
The L.A. developer originally offered $6 million for the Golden Key Hotel and wound up paying more than $16 million.
No doubt everything that Arnold Schwarzenegger wanted to do during his years in Sacramento.
The subsurface cracks are similar to the ones found on the aircraft that split open on Friday.
Actually, it's 7,406-to-1.
Certainly among the biggest initial public offerings to be announced this year.
Southwest cancels more flights, AirTran tops in quality, Disney to break ground in Shanghai, and fire sale for Sheen concert tickets.
The city has considerable leverage in working out a decent deal, perhaps even a lucrative one. But it's not likely to happen.
L.A.'s mayor admitted that he failed to report free tickets to 34 events during his first five years in office.
CKX owns two-thirds of the "Idol" brand.
Pretty dumb indeed.
Just 64.2 percent of American workers are either in the work force or looking for a job, the lowest labor participation rate in a quarter-century.
The state saw a 54.2 percent increase in the number of women-owned firms from 1997 to 2011.
Company told workers they would be getting more weeks in severance than was owed.
Oil and gas prices back up, Californians can take the blame for budget mess, food truck vendors sue city of Monrovia, and Billy Joel kills memoir.
Much of the good news does not reflect the current bout of bad news.
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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