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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 —
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November 2011
You're anchoring the NBC Nightly News and a fire alarm starts blaring. What to do?
Gone will be the mall's windowless exterior.
This was one of those all-good news days.
He's worth it - if only for the entertainment value.
The short answer is that companies do not have to be insolvent to file for Chapter 11.
Maybe the finest moment in the history of the LAPD, says the mayor.
Wall Street cheers central bank intervention, big jump in private-sector jobs, and Paramount sued for fraud.
City workers have moved into the encampment.
One purpose of any bankruptcy filing is reducing costs.
Republicans never acknowledge this considerable shift in sentiment.
A system that was - and some would say still is - out of control.
Always an interesting compilation of the types of businesses that are doing really well.
More than a quarter of L.A. Unified students live in poverty-stricken families.
Looks like Ginger White will be the last straw.
American parent files Chapter 11, no movement at Occupy L.A., USC gets big gift, and Facebook IPO shaping up to be huge.
Another allegation of less-than-sterling journalistic practices at the News Corp. papers.
Another one of those lurching days.
Agency's settlement with Citigroup over a 2007 derivatives deal is thrown out.
It would be a terrible choice.
Every hour that goes by makes city officials look like patsies.
Measuring Black Friday, Occupy update, big day at LAX, and disappointing weekend box office.
The revenue split will be 50-50 - what owners had been offering for some weeks.
Villaraigosa's press conference was nearly taken over this afternoon by at least one bozo.
Really time to end this - now.
Well, at least going back to when the markets first closed for Thanksgiving in 1942.
Add Steven Cohen to the list of really rich guys interested in buying the team.
A small taste of what was happening at the malls, via ABC 7. I love the interview with Freddy and his grandmother....
Turns out that Black Friday doesn't even get you the best deals.
Good on the City Hall folks for finally deciding that enough is enough.
The Dow finished down 236 points.
Nearly three out of four employers are giving their folks a four-day holiday.
He'll be the first African American president in the council's 161-year history.
Romney is way out in front, with a 66.6 percent chance.
My suspicion is that dispensaries are simply not workable.
Holiday travel getting started, mayor wants protesters out by Monday, council considers banning all pot shops, and big year for visitors.
Wait, it gets better.
This should get your blood boiling.
Laurene Powell Jobs can save $867 million in capital gains taxes by dumping the shares of both companies.
The bipartisan Think Long Committee has come out with an well-considered set of proposals.
The 84-year-old billionaire boss has moved into more of an emeritus role.
Time for Occupy L.A. to break things up.
Employees were dressed as poor people whose homes had been foreclosed.
Economy revised downward, sizable drop in gas prices, Mattel's CEO to retire, and Occupy L.A. protesters might be moving.
Some suggestions on holiday shopping.
AA+ rating will remain in place despite failure to cut deficit deal.
Great financial success is not always a bad thing.
Not everyone in the party is a jerk and/or idiot.
The session started badly and never came close to recovering.
It feeds into negative perceptions of the entire Occupy movement.
You try figuring it out.
Long before Ed Leamer became head of UCLA's Anderson Forecast, he taught a remedial course in statistics at Harvard. As it happens, one of his students was Karl Case, who went on to become a renowned economics professor at Wellesley and helped create the widely followed S&P/Case-Shiller housing index. One of Case's students was NPR's Linda Wertheimer. WERTHEIMER: You've had a lot of kudos over the years. Is there anything that sort of stands out...
Bad day for stocks, deficit deal is dead, Brown prepping tax plan, and more folks leaving town for holiday.
This seemed a little sketchy from the start.
It's not a wonderful picture, but it's not a hopeless one either.
Philbin admitted that his decision to leave came after he was asked to take a salary cut.
California's jobless rate for October was 11.7 percent, down from 11.9 percent the previous month.
Fourth-quarter growth projection being upped, Crystal Cathedral sold, expect changes at the Union-Tribune, and staff shortage at LAX customs.
After a standoff of several hours, the cops are finally moving in.
Well, at least 52 percent of them.
There's no polite way to say this: The stores have a dumpy feel.
Three arrests have been made so far this afternoon.
Many Americans have saved only a tiny portion of the amount needed for retirement.
New owner is Doug Manchester, who has been pushing to remake the San Diego waterfront and is in the process of building the two-towered Manchester Grand Hyatt and a nearby Marriott. He also was a major supporter of Proposition 8, which banned same-sex marriage in California. Manchester is being joined by radio executive John Lynch, who is CEO of Manchester's company (another radio guy - that's not a great sign). "We believe San Diego is...
Orchestrated is more like it, at least judging from the video.
After 77 years at the corner of 4th and Broadway, the store shut its doors.
Jobless claims keep falling, Occupy L.A. protesters start marching, Obama secure in California, and fewer people will dine out on Thanksgiving.
Ford and GM seem to be making a splash.
Overall wine sales have been up since 2010.
Lots of nastiness surrounding the meeting this morning in Long Beach.
Well, kinda, sorta.
So I'm taking bets: Which mess gets settled first, Dodgers or NBA?
That means $2 billion worth of cuts will likely be triggered next month - much of it in K-12 reductions. A new report by the Legislative Analyst's Office expects California to fall $3.7 billion short of the $4 billion revenue bump the state was supposed to have received this year. The absurdly optimistic prediction was instrumental in getting a budget deal last June, but in the subsequent months it's become clear that revenues are not...
Tame inflation in L.A., protests expected in Long Beach, Dodger payroll to be reduced, and big jump in exports.
Prices fell and bond yields rose in nations that have been spared the brunt of the financial crisis.
The idea is to create more openness for the proposed venue.
Ammunition to those who believe that bankers have been given a free pass.
It's cheaper than other types of protein, and it's become extremely popular.
A resistance to working within the system made it hard to take this bunch seriously.
Not horrible, but far from wonderful - just the continuation of a long-running story.
Retailers keep trying to lure the post-Thanksgiving shopper.
This is kind of a throwback to the pre-LAX days of the airport.
Consumers are returning to stores, another dollar chain comes to California, cops clear NY park, and long wait on jobs recovery.
ESPN is in the best shape because it has other sports to run. But there will be a price to be paid.
He continues to make it up as he goes along.
AP reports that the players have begun the process of disbanding the union. If that happens, it would send the whole mess to the courts - and that could mean scratching the season. "We're prepared to file this antitrust action against the NBA," union executive director Billy Hunter said. "That's the best situation where players can get their due process." He said players were not prepared to accept the NBA Commissioner David Stern's ultimatum, saying...
The crew of the International Space Station took thousands of photographs.
It's never a good sign to have a single check stand open in the middle of the day.
Way down the list of priorities, says the billionaire entrepreneur.
Supremes take on health care, lawmakers trade on insider information, obscure state board overturn firings, and USC has most international students.
Moody's has put the school's solid Aa1 bond rating under review.
Actually, it's lower than it was four years ago.
The Dow actually finished the week with a 1.4 percent gain.
Or didn't handle it.
Sounds like a made up controversy - or at least one imagined by NYT editors.
Consumer sentiment brightens, NBA makes new, final offer, localities can ban pot stores, and record sales for latest "Call of Duty" title.
The former owner of the Buffalo Sabres says he has the financial resources.
Analysts are skeptical because of price and the company's late entry into the market.
Here he is in 2004's seventeen-minute opening bit.
Certain kinds of bruising manual jobs will never attract much interest.
CNBC's Jim Cramer wonders what planet some of these guys are on.
California took in $810 million less than expected in October.
A batch of innovative restaurants have opened up, despite a not-so-wonderful economy.
Good news on jobs, big jump in foreclosure filings, Villaraigosa proposes plan to fix roads, and speedier security checks at LAX.
Several of those arrested were believed to be UCLA students.
The players have signaled a willingness to consider the proposed 50-50 revenue split.
He blames hedge funds.
It's a 3.2 percent drop on the day, with Italy being the dominant story.
Dow has tumbled more than 400 points at last check - and there's still 90 minutes of trading left in the session. Lots of jitters today about Europe - not surprising if you've paid attention to the bumble-heads in Italy and Greece. Those folks hold the world's financial future in their hands? God help us... *Felix Salmon picks up on the leadership problem: Interests aren't aligned at all: everybody wants to push the costs of...
There's even talk about Cirque du Soleil helping out.
It's a shame, because there's a lot to be fighting about. Instead
A bunch of betters on Intrade are wagering that he might.
Europe still shaky, higher airfares for the holidays, L.A. hotels staying full, and Time Warner Cable considers bidding for Dodger games.
Movie director might not have been the best choice to produce the high-profile show.
"Modern Warfare 3," which went on sale early this morning, will at least match the 25 million units sold by its predecessor, "Call of Duty: Black Ops," according to Wedbush Securities. Meanwhile, the Santa Monica-based company reported better-than-expected third quarter results - and expectations for a strong fourth quarter. One sour note: A decline in subscriptions to the "World of Warcraft" online role-playing game. Here's the FT story. I look at Activision's success in the...
Watching his press conference reminded me a little of the Lonesome Rhodes character in Elia Kazan's classic.
Seems like Dennis Gilbert, a special assistant to Chicago White Sox owner Jerry Reinsdorf, is preparing a serious bid for the team.
Forget about American politicians - when it comes to sex scandals, this guy is in a league of his own.
He's supposedly gone after a budget vote for 2012 is approved.
Requiring employees to pay more toward their retirement plans could be a a "legal and collective bargaining minefield."
You can't kill off a revenue source without either cutting more services or coming up with another revenue source.
Let's just say that Wall Street honchos don't exactly quake in their loafers.
Did anyone else have a feeling that he would get his grubby hands back in the company's bankruptcy game?
Italy still teetering, Fox not happy with Dodger auction, tax exemption proposed for L.A. car dealers, and Playboy consolidates in Bev Hills.
More than half see the economic troubles as the start of a long-term national decline.
After the Conrad Murray verdict was read, people outside the criminal courts building were shouting "Justice for Michael."
Blame South America, where demand is high.
The Red, Purple and Blue lines will be available every 10 minutes, beginning this Sunday.
The next breakfast in the Live Talks Business Forum series features Robert Courteau, president of software giant SAP's North American division, in conversation with Keith Ferrazzi, CEO of Ferrazzi Greenlight. Forum is this Thursday at the City Club. I have free tickets. Click here to reserve. ....
A three-year time-span seems to fit with the sluggish forecasts of recent weeks.
The guy is so in over his head that you can't even see the air bubbles.
Pressure on Berlusconi to resign, NBA talks looking bleak, Barnes & Noble introduces new Nook, and De Niro to play Madoff.
Without approval of the bailout, Greece will likely default on its massive debt.
As AEG and its loyal cadre of political hacks proceed with plans for a downtown stadium, it's a point worth noting
Remember, though, it's still November.
More action than for last year's championship game.
Perhaps one explanation comes from a new Des Moines Register poll that finds two-thirds of likely caucus-goers earning less than $50,000 believe they would be better off or in the same financial situation under the 9-9-9 tax plan. Except they wouldn't. Most every expert who has examined this cockamamie plan agrees that most families making $100,000 or less would pay thousands of dollars more in taxes. From the Register: "The larger point is that people...
McCourt may be leaving town, Groupon shares open higher, no more Sunset 5, and "Funny Girl" put on hold.
Of course, the bottom line remains quite weak.
Dopey politicians perpetuate the myth because it sounds good.
There they go again.
Protesting in front of the Red Robin.
This is a nice catch for a mall that's been struggling.
An interesting look at how unscrupulous car dealers are taking advantage of low-income folks.
The number has doubled in the past two years (and jumped by 563 percent since 2005).
How higher-skilled positions are getting squeezed.
Greeks come to their senses, O'Malley interested in Dodgers, activists shut down Port of Oakland, and state lobbyists set spending records.
Just remember what troubles Fox had in selling the team seven years ago.
Producer Gavin Polone finds the city of lights to be much more accommodating.
Next year the economy will expand at between 2.5 percent and 2.9 percent.
LAX is actually a pretty safe place and certainly safer than it was following 9/11.
But there's continued gloom about the job market.
It's at least a possibility, reports Bloomberg.
Payrolls gain ground in October, good riddance to McCourt, OC Register owner sells TV stations, and city of Vallejo out of bankruptcy.
The recession happened.
Well, sorta....
Another sign that the economy isn't quite the basket case many folks have assumed it to be.
What's really worrisome is the sense that Europe is out of control.
Daily is down to 573,000 and Sunday is down to 906,000.
This had been coming for some time.
Greece on verge of collapse, stocks taking tumble, McCourt could be nearing deal to sell Dodgers, and Honda production disrupted.
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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