Stories for August 10, 1998

Lead stories


As a long-time subscriber to the Los Angeles Business Journal, I want to commend you on the article on the federal court ruling on Playa Vista ("DreamWorks Nightmare," July 13). I disagree with Playa Capital Vice President David Herbst's criticism of the

Hospital list

The number of beds in Los Angeles County hospitals has been steadily declining as financial pressures and technological improvements combine to reduce the average number of days that patients are hospitalized.


A Wharton School alumnus has parlayed what started as his MBA graduation project into a rapidly growing Internet start-up company that landed $4.5 million in venture capital funding at the end of July.


The 1,500 members of the Los Angeles Area Chamber of Commerce strongly disagree with the July 20 Commentary by Joel Kotkin, which erroneously implies that businesses are "uninterested or even dismissive of regional efforts." They have invested in chamber


Local broadcasters will soon find out whether the ratings system that helps determine how hundreds of millions of dollars worth of radio advertising in Los Angeles gets spent each year is all wrong.


If you're looking for a very fast sailboat, you'll find it at Venice-based MultiMarine. The company deals in multi-hulls boats with more than one hull, like a Catamaran or a Trimaran which sell for between $80,000 and $120,000. Michael Leneman, owner

Company Index



Real estate tycoon Donald Trump pulled out of a partnership planning to develop a retail complex at the Ambassador Hotel site and leveled some choice words last week at the Los Angeles Unified School District.


Denny Rabineau and his wife Judy have successfully grown their women's apparel company, Average Joe Inc., into a $16 million enterprise. Not bad after nine years in business.

Feature newsmaker

While executive producer of talent and entertainment features for HBO in the late '80s, Marta Tracy was asked to help create a cable network that would be "the CNN of entertainment." The resulting presentation tape formed the basis for E! Entertainment Te


It's always news when a team of respected money managers creates a group of low-cost mutual funds. For nearly a year, you've been able to pick from six new funds offered by TIAA-CREF.


Some of L.A.'s top corporate executives are launching a non-profit foundation to raise private funds for the LAPD.


Even though she's still six weeks away from debuting her syndicated talk show, Roseanne's competitors are already bad-mouthing her.


Magic Johnson has become the latest celebrity to discover that talk show hosts are not easily created, made-for-TV commodities.


Robert Greenberg, who built L.A. Gear Inc. into a fashion giant reaching nearly $1 billion in sales but was forced out when the company came apart at the seams, is back with a whole new shoe.


It shouldn't have come as a big surprise when Sacramento lawmakers took so long to agree on a budget, especially in a year when there was $4.4 billion in unexpected tax revenue to divvy out. As with the typical household, it is often more difficult to dec


With a pair of blockbuster exhibitions expected to draw hundreds of thousands of visitors in the months to come, the L.A. County Museum of Art is undergoing a serious facelift.


25 YEARS AGO THIS WEEK: Painer Webber announced a deal to acquire L.A.-based Mitchum, Jones and Templeton, the largest regional brokerage in California ... El Segundo-based Rockwell International Corp. was spending $74 million to sew up its acquisition of


So Copley Press is suing the New Outlook for trademark infringement. ("Attorney to Publish Santa Monica Paper," Aug. 3)


As an alumnus of UCLA and store manager of Macy's Westwood, I strongly support Village Center Westwood. It will revitalize the Village in a number of ways, particularly through the valuable amenities it will provide all of Westwood.


A member of the citizens' panel overseeing the L.A. Unified School District's expenditure of $2.4 billion in Proposition BB funds wants to assemble some of L.A.'s top architects to help design new and remodeled schools.


The state Legislature is expected to approve a $76 billion budget this week that calls for a $1.4 billion tax cut, including a 25 percent decrease in the so-called "car tax."


Century Boulevard, the row of nondescript office buildings, hotels and asphalt parking lots leading to LAX, doesn't exactly present a tony image to new arrivals.


BDO Seidman has admitted five new partners at its Century City office. Arya Farinpour, Chris Lord, and Mike Pelphrey are specializing in the area of business and technology solutions. Gary Freeman has been made a partner in the audit and assurance service


Reflecting the area's economic turnaround, the value of assessed property in L.A. County rose 3.1 percent last year the biggest gain since 1992 with single-family homes posting an even stronger average increase of 7 percent.


As of last week, the Cleveland Indians were worth about $140 million ($9 a share) on Wall Street, roughly 40 percent less than the $231.7 million the team was valued at upon going public June 3 at $15 a share. For investors, maybe that's not a strikeout,


That's the assessment of a number of insiders at Los Angeles City Hall, who say that Mayor Richard Riordan's recent decision to tap former Business Team chief Lesa Slaughter as his chief of staff reflects a more project-oriented approach from the mayor's


They're among the growing number of local groceries that have disappeared over the years through an ongoing consolidation that, as of last week, has left Southern California with just three major players: Ralphs, Albertson's and Vons.


As we've noted before, real estate holds a special place in the hearts of Angelenos. Maybe it's because the town has its roots in the dreams and schemes of land speculators. Or maybe it's because L.A. is a place where even inner-city neighborhoods are dot


Investors have been on a roller coaster ride in recent weeks, as major Wall Street indexes keep seesawing. Last week's 299-point plunge in the Dow has prompted more than a few investors to question whether stocks are still the safe bet they were last year


The Aug. 3 Newsmakers incorrectly identified a photo of Doug Carpenter from Reliance Steel Co. as Jim MacBeth.


The Valencia-based land development company recently reported record second-quarter earnings of $45.7 million, nearly triple the earnings for the like period last year.


Leland Wong has a knack for being in the middle of big public works projects. He was president of the Los Angeles Harbor Commission from 1996 to 1998 as the commission oversaw a massive port expansion. And just last month, Mayor Richard Riordan appointed


With no new attractions and amusement park business generally soft this summer as a result of Asian financial turmoil, Universal Studios Hollywood is experiencing a slump in attendance during what should be the season's peak.


I recently heard about a business owner who purchased a new computer through an online auction. He visited the Web site, found the item he was looking for and entered the highest bid. At the end of the process, he walked away with a $1,300 desktop compute


The average market value of Los Angeles-area hotels has soared 50 percent over the last year, a definitive sign that the market slump of the '90s is over, according to New York-based HVS International, which tracks the nation's hotel industry for investor


Amid the flashy cars and nightclubs of the Sunset Strip, the Art Deco-style Argyle Hotel stands as a monument to refinement.


When Kelli Hedgpeth saw the rent on her Century City apartment go up $300 in one month this summer, she and her roommates hit the trail finding cheaper digs elsewhere.


Ventura County has become ground zero in what developers see as the war over growth control in Southern California.


Impressed by the longtime success of Pink's Famous Chili Dogs long lines can be found at that 59-year-old eatery day and night real estate developers Barry Hartsfield and Jonathan Cota are launching their own chain serving similar fare, and with a sim


There are many drivers these days that may cause you to think about selling, merging or refinancing your business.


With an Aug. 27 deadline fast approaching, a group pushing for the formal study of San Fernando Valley cityhood says it has gathered 100,000 of the 180,000 signatures it needs to petition for a study of San Fernando Valley secession.