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Another cautionary tale in using two percentages nearly 20 years apart to make a point about economic growth: The numbers tend to fluctuate a lot, depending on what's happening with the national economy.
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Mark Lacter covered business, the economy and more here from 2006 until his death on Nov. 13, 2013.
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April 2012
The L.A. developer keeps running into delays. This time it's over a property tax break worth $200,000 a year - the result of reducing the assessed value of the hotel property by $24 million.
Often dubbed a smaller, duller version of Davos (another blah-blah fest), this year's gathering started off with Sam Zell noting that "there is no 'effing' demand" in Europe.
Part of it has to do with the accounting sleight-of-hand that saved the company $2.4 billion in federal taxes last year - as well as millions more in California taxes. But there's something else.
If you're in the U.S., 27. If you're in China, 85. If you're in India, 195. A Princeton University economist trying to compare wages worldwide decided to take a wage rate and divide it by a product.
Hollywood payday for Obama, Walmart opponents using Mexican scandal, Mircrosoft buys into Nook, and Dodger sale expected to close today.
Sorry for sounding a bit cynical, but examining the economic ups and downs of urban L.A. should not be based on how many years it's been since the riots. I mean, is all this reflection just a pro-forma rehash we'll be carrying out every five or 10 years? Where is everybody the rest of the time?
Who knows what investigators will come up with as they sift through Walmart's alleged bribery activity in Mexico. But as a rule companies have been able to slide by.
But here's another Arkansas-based company that had been accused of similar payoffs and coverups
The first-quarter drop was nearly 21 percent, bringing down the inventory supply to 4.7 months. One likely explanation is that not enough homeowners are willing to put their properties on the market.
No offense, but this guy must really love seeing his name in print. California's lieutenant governor has penned a piece for THR on the new Current TV show (also being careful to make mention of his upcoming book).
Netflix users are discovering old episodes of shows like "Mad Men," and that has prompted them to watch new episodes on cable.
Economy slows in first quarter, L.A. gas prices are down 17 cents a gallon from a month ago, consumers will receive rebates as part of health care law, and huge pre-bankruptcy payday for Lehman executives.
A total of 114 players in the league, according to data cruncher Patrick Adler, followed by Miami (73), New York (55), Houston (44), and Chicago (39). We lead in quarterbacks too. When it comes to NFL player production per 100,000 people, it's quite a different story.
We take you to the North African nation of Wadiya, where General Haffaz Aladeen (aka Sacha Baron Cohen) changed over 300 Wadiyan words to "Aladeen," including positive and negative. Let's just say that created a little confusion.
Folks like Atlantic writer Conor Friedersdorf, who feels funny about receiving an interest rate subsidy to cover his loan payments. I'd feel funny too.
The case involves Matthew Korenberg, a San Francisco-based investment banker, and whether he illegally tipped off a now-defunct hedge fund called the Galleon Group.
Jobless claims still worrisome, state deficit could be getting bigger, Gov. Brown's plan to raise taxes receives lukewarm support, and Wilshire Grand holds liquidation sale.
They allegedly received up to $2,400 in exchange for allowing large drug shipments to pass through checkpoints. One drug courier is in custody and another is expected to surrender tomorrow.
MTA wants the stop at Constellation Boulevard and Avenue of the Stars. But a group of Beverly Hills elected officials and activists say that the subway would have to run under Bev Hills High, which they argue is a bad idea for all sorts of seismic reasons.
Actually, the elegant NY property has another claim to fame: It was the home of Peter Bacanovic, the Merrill Lynch broker who spent five months in prison as part of the Martha Stewart insider trading scandal.
"Millions of miles" of testing are still ahead, but Google is talking to car companies about potential partnerships that could bring self-driving vehicles to market within the next decade.
The central bank's short statement raised concerns about the financial outlook overseas and pulled back slightly in assessing the U.S. job market. But the basic message was unchanged.
Good luck getting your civil suit on the Superior Court docket. Plans to shut down 56 courtrooms and lay off 350 workers are certain to delay cases for months, possibly years.
Also the assessor's downtown L.A. headquarters and the Phoenix home of consultant Ramin Salari. It was Salari who received large tax reductions for his clients - and who, along with Noguez, are at the center of an influence-peddling investigation.
Britain could be slipping into recession, Walmart steps up damage control, feds investigating Hollywood dealmaking in China, and smog still bad in L.A. - but it's getting better.
This one centers on efforts by the L.A. County Museum of Art to have the Fairfax station located at the corner of Wilshire and Orange Grove, just a few steps from the museum.
First the stock continued its free fall. Then the company announced its quarterly earnings results, which were stupendous. Finally, in after-hours trading, the stock was once again soaring.
Bribes? What bribes? The finance minister said there wasn't enough information to launch an investigation, the attorney general said her office didn't have jurisdiction, and the economy ministry said it's a state and local matter.
Since January, 2000, the price of a typical L.A. home has appreciated by 59.5 percent, topped only by Washington, D.C. (75.7 percent) and NY (59.6 percent). Of course, there is a catch to those numbers.
A lot more older people, a lot more younger people, and not as many folks in between. That's among the findings of a new USC study on California demographics, and it points up some important social and economic adjustments facing the state.
Initial filings fell to their lowest level in almost five years, suggesting that fears of another wave of foreclosures appear to have been wrong. Oh, and those "toxic mortgages" that were supposed to bring down the economy are holding up pretty well.
These are the 20 extra weeks that had been provided under a federal program and which raised the maximum amount of unemployment benefits to 99 weeks. But the state no longer qualifies for the program.
Report says feds investigating Walmart, L.A. home prices keep dropping, lawsuit could delay downtown stadium, and Mexican immigration at standstill.
One of the perks of being really rich: You get money you don't need for work you never did.
The late-night shows will have a field day on this one. An OC company has come up with a contraption that will sell pot at all hours - except you need a registration card and a PIN number. Payment can be made with cash or credit card.
City National CEO Russell Goldsmith says it tells him a lot about the applicant. "If you have questions but are too intimidated to ask, then you're in the wrong company. If you have no curiosity, then you are in the wrong company."
The SEC is accusing Fred Buenrostro, who was chief executive of California's giant pension fund from 2002 to 2008, along with former board member Alfred Villalobos with falsifying letters that defrauded a private equity firm into paying $20 million in fees.
This is a real nightmare for the retail giant. Its stock is down nearly 5 percent today, federal authorities will no doubt launch an extensive investigation, and many senior executives, including perhaps the CEO, will be out.
The new date for the retirement and disability trust funds is 2033, three years earlier than previously projected. It's another reminder that the system is under stress.
Walmart shares slide, construction is coming back in Socal, prime-time ratings are down, and California job gains revised upward.
I'm still trying to figure that one out. The total budget weighs on at $7.22 billion, with a deficit of $238 million that Mayor Villaraigosa has managed to close - on paper anyway.
It's a good bet that L.A. County Mike Antonovich is a no vote, but local business leaders seem generally supportive. Editorials in the Daily News and LAT are dubious about the merits of making the half-cent sales tax permanent. In other words, a mixed bag.
April is not looking all that great, according to the state controller's tally. To date, $5.28 billion has been received; the governor's budget estimate is looking for $9.13 billion.
He had been at the post for two-and-half years, but it was never considered a great fit (he even acknowledged as much in his email to staff.) Besides, the studio's track record had not been great.
Pretty strong report - the state added 18,200 jobs to the rolls in March, the eighth straight month of employment growth and the best showing so far this year.
New concerns about the economy slipping, more chatter about an NFL team moving to L.A., Socal bucks down quarter for venture capital, and little action on Variety sale.
Another in a flurry of national surveys to mark the unofficial start of the fall campaign. Throw them all into a blender and Obama has a slight edge. But it's early.
Seems like one of these discrimination suits comes along every few months - and goodness knows what all goes on that never gets to the litigation stage.
Extending Measure R, the half-cent sales tax that's being used to finance future transportation projects, might be even harder than voting in the original plan in 2008. With his own term quickly running out and matters of legacy at stake, Villaraigosa must put on those tap shoes.
What's considered a sleepy county department has been a cesspool of corruption, with some of the most blatant pay-to-play activity to hit L.A. in years (which is saying a lot).
Because jobs are being created and folks are making money. Not lots of jobs and lots of money, but apparently enough for shoppers to be reasonably confident.
With consumer spending on the rise, especially among affluent shoppers, it's little wonder that merchants are starting to compete for the most desirable locations. Stores along Beverly Drive and in portions of West Hollywood are being snapped up. As you might guess, prices are ludicrous: One space at the corner of Beverly Drive and Brighton Way is said to be leasing for $180 a square foot. That compares with $25 a square foot, give or...
New worries that hiring has slowed, gas prices have fallen to about what they were a year ago, rising costs for F-35 fighter, and "Saints Row: The Third" helping THQ.
Mayor pushes for an extension of Measure R, the half-cent county sales tax that will help fund several major transit projects, including the Westside subway. No details on how to close the $222-million budget deficit, but he did say pension reforms would be involved. The L.A. budget will be released on Friday.
Nearly two-thirds of those surveyed are concerned about paying for their housing. One in five mortgage holders say they're underwater. Four in 10 parents say they're altering expectations for the type of college they can afford.
He really set the tone for hucksterism in the music and TV business - the cheery, boy-next-door persona who made big money through tie-ins with record labels, pressing plants, music publishers, artist management firms, and of course the networks.
Shareholders haven't been thrilled by all the red ink - or by the business model. The concept is still hard to get your arms around - smaller than a standard supermarket but larger than a convenience store.
Lenders have moved in on 59 churches since 2008, The problem is especially prevalent in L.A. because of the high concentration of small churches, and because changing demographics have hurt membership.
The lieutenant governor will be keeping his day job (good move). He joins other notable political names, such as former Michigan Gov. Jennifer Granholm and former NY Gov. Eliot Spitzer, who recently replaced Keith Oolbermann.
Pew Research asked Americans a while back who the chief justice of the Supreme Court was. You might be surprised by the answers. You might also be frightened.
Pay divide widens, Villaraigosa pushing for permanent tax hike to fund mass transit, warning on bullet train cost, and Brown expects budget deficit to grow.
A total of 56 courtrooms will go dark by June 30 and 350 workers will be laid off in a $30 million budget slashing - the biggest in history. "We are already rationing justice," said presiding Judge Lee Smalley Edmon. Lance Ito will lose his courtroom.
The longtime head of Berkshire Hathaway says the disease is in stage-1 and that his doctors have told him it is "not remotely life-threatening or even debilitating."
Triple-digit days - both up and down - are becoming more common over the last few weeks.
A few tried to double down on their ignorance (not a great idea).
"Given the projected deficits that we're facing, we think it's very difficult -- actually, we think it's impossible -- to maintain the same level of service," Miguel Santana told the L.A. City Council this morning.
The Massachusetts congressman says it was a mistake to push for reforms, especially after the Democrats lost Ted Kennedy's Senate seat. More broadly, he says that people want lots of services from government, but they don't want to pay for it.
Homes sales jumped 28.7 percent from February to March, which sounds good. The problem is that Socal sales average 37 percent between the two months. Prices, meanwhile, were mostly flat.
Apple shares back on track, L.A. post offices not open late tonight for tax filers, it's time to start booking flights for Memorial Day weekend, and concerns about seafood mislabeling at local restaurants and groceries.
Measured as a share of family income, poor people pay the most. Measured by the percentage of personal income tax, rich people pay the most.
Gallup's tracking poll has Romney over Obama by 2 points. CNN poll has Obama over Romney by 9 points.
Sounds like the same setup that Walmart is planning for Chinatown, and which caused such an uproar among the unions.
The culture of umbrage strikes again - we're SHOCKED, SHOCKED to discover that Secret Service agents were caught hooking up with prostitutes in their off hours.
Strong retail sales help the market, disappointing Barbie sales hurting Mattel, top lawyers raise their average hourly rates to $873, and how decision-making by L.A. officials worsened the budget picture.
The Frank McCourt era is over - well, mostly.
What a way to spend a Friday night in Delaware.
Women did make up the vast majority of workers who lost their jobs since President Obama took office. But...
Dorothy Pomerantz tweets:"Three Stooges poised to overtake Hunger Games at the box office." Watch the trailer.
Agreement calls for a 2 percent annual wage increase and modest increases in health and pension plans.
In the world of public television it was nothing short of the nuclear option. I have a piece in this month's Los Angeles magazine.
It's been happening in other markets for some time. The question is whether other chains will follow and how badly the cutback will affect LAT ad revenues
As Jack Paar used to say, "I kid you not." (Guess they'll have to find out who Jack Paar was.)
Why gas prices are falling, Time Warner Cable would consider Dodger stake, OC gets back on bullet train route, and Port of L.A. has big month.
The new normal - not terrible, but not altogether wonderful. The problem is in the headwinds that threaten to limit expansion.
The Dow jumped 180 points, to just under 13,000.
Somewhat convoluted opinion on a somewhat convoluted case.
It's not easy in the days of social networking and nightmarish airline flights.
Jobless claims jump, MLB still not happy with Dodgers, and Amazon cuts e-book prices.
Who knows what might happen with Iran, but for now the outlook is downward. Locally, gas prices have been edging lower for more than a week.
This time, it's over the celebration of Dyngus Day. Jon Stewart skewers the networks in a separate clip.
The five-day down streak is broken with the Dow gaining 91 points, to 12,807.
The city's chronic deficit is being dealt with in only patchwork ways. And that tax holiday for new businesses coming to L.A. isn't helping.
You mean aside from being gross, overpriced relics of an earlier, gluttonous age?
Seems that the market is being squeezed.
Dodger sale expected to be approved, county assessor gets grilled, U.S. sues Apple over e-book pricing, and pension gap widens.
The CEO of American Apparel says the company if unprofitable, but only if you look at it a certain way.
The studio's main source of funding, India's Reliance Entertainment, is providing $200 million.
Market was ugly all session.
A rift is opening up between the two.
Everything was under projections, but especially corporate tax receipts.
But no immediate plans to expand in Japan.
The head of the investment group seems to be living out a childhood fantasy, using other people's money.
Limited support for NFL stadium, county faces property tax shortfall, LAX costs head upward, and Fresh & Easy faces new pressure.
They were considered a kind of virginity insurance.
The fourth-straight down session.
Economist Tyler Cowen says eating is all about supply and demand.
Actually, the company hasn't been around long enough for there to be much of a backstory.
Low home prices and mortgage rates helps explain it.
Bad day for stocks, gas prices fall a dime a gallon in past month, L.A. budget chief warns about deficit, and early reading on mayoral race.
Baseball officials are concerned that the prospective owners have not provided more data on the deal. It's not really an all-cash deal: new owners will assume $12 million in debt.
Being founder, chairman, primary stockholder, and CEO is not the ideal arrangement.
As could be expected, the TV folks are practically forecasting a new recession.
It helps that sellers have been lowering their asking price.
U.S. producers like Manischewitz and Streit's are having a tough time competing with the Israeli-made product.
Parsing job numbers, gas prices keep falling, AEG betting on mass transit, and Aetna called on higher rates.
Only 120,000 jobs were added to the workforce in March.
As usual, everybody and their uncle are guessing about the March number.
This really goes back to the Orange County bankruptcy in 1994.
It boils down to the Republican's perverted view that the federal government, aside from defense, is worthless.
Located along "Billionaire's Beach" (David Geffen, Jeffrey Katzenberg, Larry Ellison, Paul Allen et al), it fetches $10 million.
When that many people descend on a smallish area there's only so much that can be done.
Hmmm - doesn't seem to be happening, at least based on March chain-store sales, which largely topped expectations.
The summary alone is 183 pages.
Good month for retailers, gas prices keep falling, early word on stadium plan, and Playa Vista gets its downtown.
I wouldn't trust anything this guy says, but it's interesting to watch the dance.
Unfortunately this will require a lot more than technology.
Saudi prince Alwaleed bin Talal is spending well in excess of $500 million for an Airbus A380.
That, of course, would be the Masters.
Today's news is disheartening.
Today's trading is only a snapshot, but it does capture conventional wisdom.
There's a lot that we still don't know about the deal.
Gas prices still falling, Dallas air service returning to normal, council considers incentives for hotels, and Americans taking fewer doctor visits.
They're being announced early tomorrow morning.
Sounds like a real mess.
Any economy, no matter how beaten up, can be reborn if the conditions are right.
Movies did the best and TV the worst.
Many of the current pay plans have been fashioned by a company called Press+
Big difference.
Talk about being stuck in the Twilight Zone.
Please tell me that the party's brain trust can do better than this.
L.A. gas prices edge lower, March car sales looking good, Anschutz ups his offer, and "slime" blamed for bankruptcy.
Was there a tentative deal with DirecTV on TV retransmission and was nixed by creditors?
Self-driving cars could be changing the transit conversation.
Once more, it's a case of Americans wanting it all - and wanting it cheap.
Lots of ways, from education to major industries.
Actually, there were quite a few this morning during the so-called interview.
Gas prices keep edging lower, AirTran gets top performance grade, AEG could be caving on NFL demands, and Oprah tap dances.
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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