June 24 - June 30, 2012
Friday, Jun. 29
For a city with a population of 3,819,702, that's not much - 0.7 percent in fact. This seems to run counter to other parts of the country, where cities are growing faster than the suburbs.
This is the one that the mayor has been pushing for the last two years - a plan that he claims will allow the Westside subway extension to be completed in 10 years instead of 30.
June turned out to be a really good month, with the blue-chip index picking up a record-setting 486 points. All of a sudden, the Dow is up 5.4 percent on the year.
The 2008 acquisition of Calabasas-based Countrywide seemed like a bargain at $2.5 billion, but when you add up real-estate losses, legal expenses, and settlements with state and federal agencies, the real price is closer to $40 billion.
They're down 41 percent compared with last year. By the way, did you know that 67.6 percent of Americans plan to celebrate the Fourth with a cookout? But just be careful about paying for the buns.
Bailouts for European banks, consumer sentiment hits 6-month low, Congress expected to approve bill that could expedite L.A. subway construction, and L.A.'s Jordan Downs housing project to be made over.
Thursday, Jun. 28
The Chapter 9 filing was made in federal bankruptcy court in Sacramento. Assets are listed as more than $1 billion and debt ranges from $500 million to $1 billion. This could be a difficult, protracted process.
Seems like a no-brainer considering that the two candidates for mayor are in search of labor support and the local unions aren't exactly on great terms with the retail giant.
The Hollywood producer claimed that the Wall Street bank had agreed to pay $30 million in exchange for a share of revenue.
This is getting quite a ride around the Web.
Nearly 7 million people in the state are uninsured and 4 million of them are expected to receive new or improved coverage by 2019. That's a very big deal.
Kentuckians, be proud. This from your senator, Rand Paul: "Just because a couple people on the Supreme Court declare something to be 'constitutional' does not make it so. The whole thing remains unconstitutional. While the court may have erroneously come to the conclusion that the law is allowable, it certainly does nothing to make this mandate or government takeover of our health care right."...
News Corp. announces split of entertainment and publishing properties, Gov. Brown signs budget after still more trims, JP Morgan's trading loss could be a lot larger than first estimated, and Madoff's brother cuts plea deal.
Chief Justice Roberts turns out to be the deciding vote that upholds the law. Check for latest updates.
Wednesday, Jun. 27
No Register employees are included. The company has been selling off assets for some time, and earlier this month announced the sale of the Register and the remaining Freedom papers to an investment group.
For all the breathless anticipation, closing off two of the eight Wilshire Boulevard ramps to the 405 hasn't created any new traffic hassles. "So far so good," says an MTA spokesman.
Never say never and all that, but L.A. has many more funding options. Besides, a Chapter 9 filing for the nation's second largest city - and one of the world's largest economies - would be a political non-starter.
China is, by far, the biggest trading partner for the L.A. area, followed by Japan and South Korea. The first European Union country to even show up on the list is Germany, at Number 11.
For what it's worth, Tom Goldstein, publisher of the well-regarded Scotusblog, is predicting that the high court will not invalidate the insurance mandate.
The industry's basic business model has remained pretty much unchanged over the past 80 years. That is, money people lend money to creative people in the hope of getting a return.
Prime property prices have jumped 51 percent since 2009, thanks largely to overseas investors pouring billions of dollars into places like Mayfair and Knightsbridge. L.A. prices during that same period rose less than 5 percent.
Stockton to file for bankruptcy, News Corp. board considers split of entertainment and publishing, state legislature to vote on budget, and Caruso gets tax break for Miramar Hotel development.
Tuesday, Jun. 26
July 4, 2012 happens to fall on a Wednesday, which of course is the worst possible day to celebrate a holiday.
Splitting into two companies - one for entertainment, one for publishing - seems like a real possibility. Top executives from the News Corp. empire are at a pow wow in NY this afternoon to discuss the potential division
Really bad, according to data released by the Census Bureau. Well, except for one notable industry.
This online form of micro-lending provides small business owners with a chance to borrow money - something they're almost never able to do at a conventional bank. The idea is to match lenders and borrowers, using the Internet as a middleman.
I had to take a second look at this morning's LAT story about Madison Square Garden Co. purchasing the Inglewood venue and planning an extensive renovation. Hadn't I read the same thing a year and a half ago?
L.A. home prices edge higher, News Corp. considers splitting up company, more budget-tweaking in Sacramento, and the Forum's new owner plans a $50-million facelift of the aging facility.
Monday, Jun. 25
CEO Meg Whitman must have cringed when she read this very unflattering example of how the company handles complaints. Moral of the story: Don't assume that a customer service agent knows what he's talking about.
Forget about whether you agree or disagree with today's Supreme Court decision. What's remarkable is Brewer's appallingly unresponsive answers to questions during a press conference. How on earth can this woman be running a state?
A number of smallish U.S. manufacturers are deciding that it's not worth all the hassles - despite still-lower labor costs. We are talking 7,000 miles and 15 hours away.
Stockton close to bankruptcy filing, Villaraigosa blocks pension pick, six out of 10 Americans are skeptical and whether a president has much influence in creating jobs, and downtown gets big apartment project.
The Supreme Court struck down much of the law, but a key portion that requires the police to check the status of someone they suspect is in the U.S. illegally could go forward.
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The funeral for Mark Lacter will be held Sunday, Nov. 24 at 12 noon at Hillside Memorial Park, 6001 W. Centinela Avenue, Los Angeles 90045. Reception to follow.
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