Stories for June 1998

Monday, June 29

Sprint PCS

Hollywood players often lead notoriously extravagant lives, so you might expect them to be equally as flamboyant with their personal investments.

Award

The Los Angeles Business Journal won five awards in a nationwide competition of business publications, including the general excellence entry.

Forum

AT & T; and Tele-Communications Inc. announced plans for the largest merger of cable and phone assets in history, a $46.5 billion deal between the country's biggest long-distance provider and its dominant cable company. Some believe the marriage will boost c

Web Facts

WEB FACTS

Trend

Today, few managers enjoy the luxury of a personal secretary, and support staff are spread thin. According to the U.S. Department of Labor, during the second half of the eighties, the number of managerial positions increased sharply, while the number of

Persfi

Thank you, Chief Petty Officer Zeno F. Brown USN Ret., in Raymore, Mo. John Hawke Jr., the U.S. Treasury's undersecretary for domestic finance, thanks you, too. You alerted us both to something that the Defense Department shouldn't be doing: It has been u

Staff

With the appointment of Alfonso Salazar as the new head of L.A.'s Business Team, the Riordan administration has once again turned to the group's well-respected senior staff to lead the city's business-assistance efforts.

Newsmaker

Laurel Crary-Globus, the new general manager of the Beverly Center, says her goal is to make the mall a "phenomenal shopping experience for a very upscale, sophisticated shopper."

Converged networks Create Simp

When Alexander Graham Bell called for Mr. Watson to come in from the next room, never in his wildest dreams could he have imagined today's complex world of "telecommunications." From simple dial tone to Internet to data transfer to videoconference to fra

Eds

When Vivien Leigh graced the big screen last Friday in the re-release of "Gone with the Wind," she looked fantastic. And so did the rest of the 59-year-old movie.

Q

Lewis Horwitz is considered a pioneer in the independent film financing industry. When he opened a film-financing department at Beverly Hills National Bank in the early 1970s, most independent filmmakers had to depend on rich investors to get their movies

Pacific

Pacific Theatres, which for decades has made its money selling movie tickets and popcorn, is charging into a new line of business real estate.

Weekly Brief

When Bob Nickell decided to leave his job as a general retail pharmacist in order to start his own independent pharmacy, he knew he would have to create a niche in order to survive. He came up with the idea for The LivingWell Pharmacy in 1994 and the stor

Corp Focus

No one is celebrating the proposed merger of AT & T; Corp. and Tele-Communications Inc. more than the people at Alhambra-based Ortel Corp.

Union

In a large office overlooking a busy shopping center on Fairfax Avenue, a group of clerks sits behind computers, printing out hundreds of checks each day. It could be an insurance company or a bank, but it's not. It's a union hall.

Co index

A

Letter

Regarding your article on LAX expansion plans ("LAX Expansion Fight Heats Up With Ads, New Option," June 22): Given the sensibilities of El Segundo, I wonder why the airport as its leadoff expansion effort is proposing to build a new, closer runway to tha

Small Office

If you're a small office looking for Internet connectivity and e-mail, but don't have a Fortune 500 IT budget there is hope. For those just getting into the game or others who might be looking for an inexpensive solution for a small remote office there ar

Showbiz

So how does a miniseries on CNN get made? If you are Ted Turner, vice chairman of Time Warner Inc. and founder of CNN, you just pick up the phone. That's how "Cold War," the mammoth 24-hour miniseries about the battle between East and West, was born. The

Oped

Under a law adopted in 1922, the counties of California are obligated to provide medical care to those who can't pay for it. That made sense then, when local county taxes were the principal revenue stream. It makes little sense in 1998, when 94 percent of

Profit

Incentive pay may be making corporate America's executive ranks rich, but in Hollwood, profit participation is usually a frustrating game of "heads we win, tails you lose."

Lucent

The phone rings. You reach to answer it. You wonder who is it? What do I know about them?

LAX

Carol Hallett has some advice for L.A. officials contemplating airport expansion: Don't even think about Palmdale.

Small Biz

The global communications industry is much in the news these days. But the big, bold headlines about multi-billion-dollar mergers and worldwide acquisitions have left many owners of small and medium-sized businesses asking a simple question. "What does al

Computer Col

TweakDUN is the name of a handy little Windows 95/98 utility program that can speed up your travels on the Web by adjusting some obscure settings that govern the way Windows connects to the Internet by modem. That's what the name means it "tweaks" your

Playa

Developer Robert Maguire has made a $78 million bid to buy the site at Playa Vista near Marina del Rey where DreamWorks SKG has been planning to develop its movie studio.

Hidden

Commercial telephone vendors are selling telephone systems with CPU's, software and programmable terminals or nodes called telephones. The telephone, not necessarily the dial-tone providers, and computer sales people are looking more and more alike. Compu

Overview

Bankers have been very good to Hollywood in recent years, pouring billions of dollars into film and television production on the assumption that the global thirst for entertainment would assure repayment of their loans.

Unova

Think of L.A.'s largest public companies, and names like Walt Disney Co., Mattel Inc. and Times Mirror Co. spring to mind.

History2

45 YEARS AGO THIS WEEK: California's oil industry pumped out more than 1 million barrels of crude a day, but the record production still was unable to meet national demand, forcing companies to import crude from the Middle East and India for the first tim

Rebriefs

First, DreamWorks SKG erected its animation studios, which resemble an Italian hill town. Now, Walt Disney Co. plans to knock down four 30-plus-year-old buildings at the neighboring Grand Central Business Centre to make way for a new state-of-the-art stud

Ent Note

How many times have you hired a promising executive or an ambitious administrator only to find within a few weeks that the individual bears no professional resemblance to the person you hired?

Cost

Go to any one of the 430 Gold's Gym locations worldwide, and you'll find yourself surrounded by stern-faced men and women sweating away while lifting barbells, pumping away on stationary bikes and doing sit-ups.

Roller

Hollywood superstars like Sylvester Stallone, Jim Carrey and Tom Cruise are notorious for demanding as much $20 million a picture. But how do they actually get paid?

Internet Conncetivity

Today, the Internet affects business like no other modern technology. Financial companies such as E*Trade and Ameritrade now trade stock, in real time, over the Internet. More than 1.5 million people in more than 160 countries have purchased books from A

Player add

Citicorp ranks as Hollywood's biggest lender, raising more than $2 billion for the industry in 1997.

ADSL

That thin copper telephone line running into your home and business just got fatter.

Margin

Sometimes a little perspective can be a wonderful thing. I got a healthy dose of that last week in Indianapolis, at a meeting of the Association of Area Business Publications a fancy title for what is a group of the nation's business journals.

PCH

High-speed data lines that can transmit video instantly from one location to another might be the wave of the future. But for now, Hollywood is making do with the "sneakernet."

Edit

Will the merger of telephone giant AT & T; Corp. and cable giant Tele-Communications Inc. turn out to be successful? At this early stage, it's anyone's guess. Based on last week's stock action, Wall Street appears to be hedging its bets and why not, given

LA Stories

Art is in the eye of the beholder, they say. And for the 200 or so facility managers who toured the Getty Center last week, "art" was defined as the Getty's chill room, boiler rooms, loading docks, central security station, generators and other elements o

GST LA

When Alexander Graham Bell called for Mr. Watson to come in from the next room, never in his wildest dreams could he have imagined today's complex world of "telecommunications." From simple dial tone to Internet to data transfer to videoconference to fra

Athome

Getting a film financed is a complicated endeavor, and "The Thin Red Line" is a case in point.

Crashes

WHEN YOUR COMPUTER CRASHES

Tips

INTERNET USER TIPS

Market Col

Are advertising agencies doing more with less people? Apparently so, according to a Salomon Smith Barney report on the stocks of the nation's two giant communications holding companies (Omnicom Group Inc. and Interpublic Group of Cos.), which found that a

Data

Write effective e-mails!

Foreign

When Asia came down with the flu, L.A.'s film financiers, especially those who fund independent films, got the shakes as well.

Digest

California job growth in 1998 is projected to outpace even the strong levels of 1997, according to the mid-year report issued last week by the UCLA-Anderson Forecast Project.

Bond2

Before a bank forks over as much as $50 million to finance something so risky as an independent Hollywood movie, it wants at least one basic assurance that the film will be completed, on time and on budget.

Dereg

The state's utility industry and major business groups began mobilizing opposition last week after an initiative that would gut the state's electric utility deregulation law qualified for the November ballot.

Hotels

After a decade of inactivity, hotel development has once again roared to life in Los Angeles.

Re

The June 22 Who's Who Real Estate misstated the notable projects of architects Frederick Fisher and David Hertz. For Fisher, it is the Eli Broad Family Foundation Gallery, and for Hertz it is the Rhino Records corporate offices.

Monday, June 22

Park

Ki Suh Park has been involved in some of the largest construction projects in Los Angeles. His firm has designed 65 regional shopping malls, including South Coast Plaza in Costa Mesa and Fashion Park in Santa Anita.

KCAL

KCAL-TV Channel 9 last week once again secured the broadcast TV rights to the Los Angeles Lakers through the 2004-2005 season largely because none of its competitors had a chance to make a bid.

Davis Q

The oldest of Marvin Davis' four children, John Davis, chose the entertainment industry to make his fortune instead of following his multibillionaire father's footsteps in oil and real estate.

Digest Add

After two years in New York, the Grammy Awards will return to Los Angeles next year, the Recording Academy announced last week.

History

The dollar was diving, hitting a record low of 209.525 yen, as Americans in Tokyo complained that their rents were skyrocketing and that the average meal cost $24, up from $22 just the month before ... Chevron reported an oil and gas find in Pacoima ... L

Kramer

"Architects are in many ways like film directors," says Barton Myers. "Good architects need not only a really talented staff and associates, but are also very dependent on other input to make these things work."

Newsmakers

Deborah Lafky has been appointed to the newly created position of digital media manager at Palos Verdes Peninsula-based Sparkman Advertising Inc. Lafky previously was manager of technical media at International Rectifier, a semiconductor manufacturer.

Johnson

Los Angeles is about to get its first high-rise in a decade, with the City Council last week giving final approval to the "ultra-premium" 40-story tower being developed by JMB Realty Corp. in Century City.

Landau

Thomas Landau has created some of L.A.'s most prestigious and recognizable landmarks, including The Trillium in Warner Center, Biltmore Place in downtown and One Westwood on the Westside. Explaining his versatility in design, Landau says, "I have no style

Oakley

Since his appointment in 1986, Charles Warner Oakley has been at the helm of the UC system's most ambitious building program, costing $1.5 billion over the past 12 years.

Wal-Mart

Meyer Abergel, the owner of Shoe4U, a brand-name ladies footwear discounter, is renovating his storefront and starting an advertising campaign later this summer.

Japan

Motion Syndicate Inc., a Santa Monica-based producer of three-dimensional animation and graphics for TV commercials and computer games, once relied on Japanese customers for almost 80 percent of its business.

Tourists

With Asian tourists traveling less because of economic turmoil in the region, the Beverly Hills Chamber of Commerce is looking elsewhere for visitors and has rerouted a sales mission originally planned for the Far East.

Reseda

In its heyday in the 1960s, Reseda Boulevard was a bustling thoroughfare, lined with busy shops and restaurants thanks in part to neighboring San Fernando Valley State College, renamed Cal State Northridge.

Binder

A

Pac Bell

The phone company recently introduced a system that represents what could be a sea change in how the entertainment industry sends tapes around town as well as the nation. Using Pac Bell's real-time video transfer system, studios can send previously inco

Playa

DreamWorks SKG was close to finalizing its long-awaited deal to develop a new entertainment studio at Playa Vista late last week, but developer Robert Maguire may be angling to act as spoiler again.

Moss

On the architectural spectrum that runs from staid to avant garde, Eric Owen Moss' work is definitely on the avant-garde end, even by Los Angeles standards.

Gehry

Perhaps no other local architect has had more of an impact in reinventing Southern California urban public spaces in the late 20th century than Jon Jerde, creator of Universal CityWalk, the look of the 1984 Summer Olympics and San Diego's Horton Plaza.

Students

It's the end of the term at UCLA School of Art and Architecture, when graduate students must stand in front of their peers and professors to defend projects they poured their creative energy into for weeks, often putting in 18 hours at a stretch in the st

Miramar

Calling a recent complaint by the National Labor Relations Board "preposterous," officials from the Miramar Sheraton hotel are digging in for a drawn-out fight with Local 814 of the Hotel Employees and Restaurant Employees Union.

Q

For more than a decade as chief economist at Merrill Lynch & Co., Donald H. Straszheim's pronouncements moved markets. Now, as president of the Milken Institute, the Santa Monica-based public policy think tank founded by financier Michael Milken, Straszhe

Ask Lorraine

Question: I'm an administrative assistant and work for an entrepreneurial online publishing company. My boss is the owner of the business and has lots of energy and ideas, but could use more staff to help him. I would like to help more, but while he is "p

Altoon

Ronald Altoon, the 1998 president of the American Institute of Architects, is an internationally noted designer of that most modern of architectural inventions: the shopping center.

Nadel

Herb Nadel is one of the most entrepreneurial of all Los Angeles-area architects. He is certainly one of the most prolific.

Keating

When Richard Keating was a graduate student at UC Berkeley, he thought it would be interesting to write his doctoral thesis on high-rise buildings in architectural history.

Hertz

"Doing well by doing good" is an apt motto for David Hertz. Since 1984, when he founded Syndesis Inc., Hertz has focused on designing innovative, environmentally efficient buildings.

Tenet

After almost a year of heated debate, during which community activists fumed and L.A.'s cardinal threatened to take the issue to the Vatican, the non-profit Queen of Angels-Hollywood Presbyterian Medical Center in East Hollywood was finally acquired last

Kanner

Stephen Kanner, a third-generation Los Angeles architect, looks to the recent past for his inspiration the playful post-war era of funky coffee shops, drive-ins and bowling alleys. But he doesn't translate it too literally.

Business Doctors

With more and more health maintenance organizations calling the shots over patient care, doctors and medical students say they are being left in the dust. But no more many physicians are planning to come up to speed.

Tanaka

For Ted Tokio Tanaka, less is more. In a portfolio that includes numerous local homes, art galleries, restaurants, publicly funded buildings and commercial offices, Tanaka eschews the grandiose gesture for a stripped-down simplicity.

Overview

The contrasting fate of two buildings designed by Frank O. Gehry, the celebrated Santa Monica-based architect, symbolize the state of architecture in Los Angeles for most of the '90s.

Edit

Al Dunlap has become the de facto whipping boy for corporate avarice and insensitivity, and his firing last week as chairman of Sunbeam Corp. was, to many, poetic justice.

Hope

When Operation Hope Inc. was founded in the wake of the L.A. riots, its main goal was to educate inner-city residents on how to manage their finances, operate small businesses and lure outside investors.

Gary

Melinda Gray is the quintessential outside-the-box thinker and designer. In a number of single- and multi-family homes that she has designed in Los Angeles, Gray consistently knocks down preconceived notions of what residences should look like.

Noda

What does an architect do when he or she needs an architect? David Brotman of RTKL Associates Inc. called Dean Nota.

Computer

With Windows 98 hitting the streets, this was to be a column about installing it. In fact, it was to be a column about how easy it is to install. We had tried it on a desktop unit and the process went without a hitch, taking about an hour and leaving thin

Weekly brief

Michele Lando used to work at a graphic design company, but the company dissolved when it couldn't keep up with changing technology. Rather than look for a job at another firm, she decided to start her own company, Skilset Communications, a marketing comm

Diamon

Shortly after graduating from architecture school, Steven Ehrlich went to Africa for a stint in the Peace Corps. That experience has influenced his work ever since. The native New Yorker was transfixed by the indigenous architecture of Northern Africa.

Cpk

Frederick Hipp regularly dined at California Pizza Kitchen restaurants as he traveled throughout the country. He loved the pizzas with offbeat toppings, the large servings of pasta and the low-fat chicken sandwiches all at reasonable prices.

Mainframe

In the June 22 list of public relations firms, the 1997 companywide fee income for Hill & Knowlton was excluded. That figure is $189 million. On the same list, the number of public relations professionals for Bragman Nyman Cafarelli should have read 40.

Fisher

Fred Fisher has a reputation for being the architect of the artists. He has designed any number of museums and galleries, including the $8 million renovation of P.S. 1, an extensive contemporary arts center in Long Island City, N.Y. In Los Angeles, he con

Letter

Architects at Gail Kennard Madyun's family-owned firm have designed a number of high-profile public buildings, among them the LAPD's 77th Street regional headquarters, a $36 million trauma center addition at King/Drew Medical Center, and the Hollywood Bow

Margin

Just as Patricia Belton Oliver was hitting her stride as an architect in the mid-'80s, her career took a hairpin turn. The Larchmont offices of Oliver, Kurze, Georges Architects the only all-women-partnered architectural firm in California when it was e

LA Stories

When Johnny Chien Chuen Chung became a poster boy in the brouhaha over Chinese political donations to the Democratic party, producers of the KTLA-TV Channel 5 show "Making It! Minority Success Stories" slapped their foreheads.

Levin

Brenda A. Levin is acclaimed for her groundbreaking renovations of some of L.A.'s best known and most beloved historic buildings, among them the Wiltern Theater, the Bradbury Building, the Fine Arts Building and Grand Central Square.

PR List

It was a very good year for local public relations agencies, with most seeing substantial increases in fee income. For the 25 firms on the list combined, fee income increased to $106 million in 1997 from $95.3 million in 1996. Three firms, in particular,

Mayne

Architects might be startled to hear Thom Mayne describe his practice as "just making the leap" in the past four years.

Market Column

What works in television, radio, magazines and newspapers is starting to work on the Web, as a recent local merger on the new-media front shows.

Techtalk

After a DigitalFacades Inc. executive told the Business Journal in February that the company had "no intention" of being acquired, the Santa Monica-based Web and CD-ROM developer pulled an about-face. The Internet solutions company Rare Medium Inc., based

Rotondi

Michael Rotondi says he looks for work "that has a high aesthetic component and a clear social agenda."

Oped

Ira Smedra's controversial Village Center Westwood retail-theater project is once again making waves, this time connected with an attempt to amend the state's pedestrian mall law.

Small Biz

Outsiders may look at Sharon Graner's Kennel Club and conclude that she has cleverly exploited a market niche upscale boarding for cats and dogs.

Bars

It's noon, and David Frick is sitting at the crowded bar at the Cock'n' Bull in Santa Monica. Beer is flowing, a middle-aged waitress struggles with plates of fish and chips, and the crowd of more than 100 is yelling, shouting, even screaming.

Ent Note

The World Cup is making the headlines these days, but there's the Galaxy to consider, too.

Corp Focus

Jefferies Group Inc. embodies the new Los Angeles economy: It is comparably small, niche-oriented and growing fast.

Colbern

Richard Colburn, featured by the Business Journal last week as one of the 50 richest people in Los Angeles, is about to get richer.

Persfi

If you catch get-rich shows on television, you may have seen "Millionaires on the Road." It tells you how easy it is to make money in a business known as "discounted notes."

For record

Due to a typographical error, a June 8 commentary by L.A. City Councilwoman Ruth Galanter incorrectly stated the degree to which Los Angeles International Airport is operating above its planned capacity. The correct amount is 150 percent.

Forum

Los Angeles has long drawn some of the nation's top architects, thanks to a climate that allows for more open design than Eastern cities and an attitude that is more accepting of the unconventional. In a city with a treasure trove of Art Deco palaces and

Bond

Before a bank forks over as much as $50 million to finance something so risky as an independent Hollywood movie, it wants at least one basic guarantee that the film will be completed, on time and on budget.

Digest

Mattel Inc. last week agreed to acquire the nation's second-largest doll maker for $700 million.

Airport

In a bid to appease critics of the massive Los Angeles International Airport expansion project, LAX officials are preparing to introduce a "third option" later this summer. And the powerful business-labor coalition backing the airport expansion has steppe

Monday, June 15

History

Lytton Savings & Loan announced plans for development of two city squares fronting on Pomona's new downtown pedestrian mall Studemaker made it to the top of the most active list on the New York Stock Exchange on news that it had received a $40 million ord

Anderson

John Edward Anderson drinks out of a coffee cup in his office that reads, "The harder I work, the luckier I get."

Geffen

A college dropout, David Geffen has come a long way since he forged a resume saying he was a UCLA graduate to get a job in the William Morris Agency mailroom. Geffen rose quickly rose through the ranks, specializing in music at the talent agency.

Disney

He has been a film editor, a producer and a writer. Who better to help mastermind the transformation of the once-sleepy Walt Disney Co. into a global giant?

Panel

Two facts become crystal clear upon delving into the exclusive world of L.A.'s richest people: First, there are lots of them, and second, their collective wealth is growing rapidly.

Snippet2

Private jet travel is the epitome of conspicuous consumption. Our plane is configured to carry 10 people, but sometimes we carry only one passenger. A five-hour trip can cost $15,000 to $20,000, but they pay it because everything is done at their convenie

Ovitz

After being uncharacteristically low-profile following his ouster at Walt Disney Co., Michael Ovitz is back though this time, he is moving away from his familiar Hollywood terrain.

Dropouts

As the ranks of wealthy Angelenos swelled during the past year, 11 heavy hitters dropped off the list of L.A.'s richest.

Eisner

On the surface, Michael D. Eisner seems like he's making peanuts as chairman of Walt Disney Co. a mere $750,000 in annual salary. But the real payoff has been stock options. His current 10-year contract, which runs until 2006, includes options on 8 mill

Perenchio

Andrew Jerrold Perenchio moved to billionaire status this year. His net worth nearly doubled, thanks to the stock performance of Spanish-language TV network Univision Communications Inc.

Merv Griffin

For a $1,000-a-week singer whose first major hit song was "I've Got a Lovely Bunch of Cocoanuts" in 1950, Merv Griffin has come a long way.

Charity

In the early '90s, deep in a business and real estate slump, Los Angeles found itself saddled with a reputation as a poor place for philanthropy. Now, the fortunes of the non-profit sector are turning around with those of the city as a whole.

Lear

Norman Lear is best known as the prolific writer and producer who brought us Archie Bunker, Maude, the Jeffersons, and other unforgettable if not always lovable denizens of TV land.

Cotsen

When Johnson & Johnson bought Neutrogena Corp. in 1994, Lloyd Cotsen's stake in the company 38 percent of the outstanding shares amounted to $348 million in pre-tax cash.

Field

There are few trust-fund babies who hit it big in Hollywood. Bright-eyed and naive about the industry's underside, many of these newcomers have gone through their fortunes after footing massive bills for box-office bombs.

Fisher

Very little is known about David Whitmire Hearst Jr., the unmarried grandson of the legendary William Randolph Hearst.

Unknown

Halfway through the legislative session, the state's business lobby has managed to block a number of anti-business measures and is confident that it can call on Gov. Pete Wilson to help dodge most of the rest.

Day

After weighing merger proposals in 1996, Robert Addison Day Jr. decided last year to continue running Los Angeles-based Trust Co. of the West as an independent, privately owned company. Bidders were rumored to have offered only $500 million to $600 millio

Hilton

William Barron Hilton, son of famed hotelier Conrad Hilton, had a tough year. It started with the New Jersey Division of Gaming Enforcement disclosing that it was looking into his former ties to Felix Vivas, a self-described arms dealer and smuggler. No a

Murdock

David Murdock likes diversity. He made his fortune in such unrelated ventures as real estate, canned fruit and truck chassis. He's also not afraid to take risks and has sometimes paid the price.

Spend

L.A.'s nasty '90s a time of recession, aerospace layoffs, natural disasters and riots are fading into memory. These days, with the economy and stock market surging, wealthy Angelenos are on a spending spree reminiscent of the high-flying '80s, accordi

Dreben

Marvin Davis made his money in oil. And the wells are still gushing for the L.A. billionaire.

Zilka

Born in Baghdad to a family of bankers, Selim Zilkha worked his way through three industries and several continents before settling in Los Angeles over a decade ago.

Margin

This week's issue is not your typical Business Journal. Our second annual Rich in L.A. edition not only includes the 50 Wealthiest Angelenos, but an extensive package of stories on various levels of wealth as well as many sobering examples of poverty.

Spielberg

With blockbusters like "Jurassic Park," "Raiders of the Lost Ark" and "E.T.," Steven Spielberg is arguably Hollywood's most successful director and the richest. A precipitous rise for a man who dropped out of Cal State Long Beach and began directing TV

Hixon

The Hixon family's wealth derives from AMP Inc., the world leader in electrical and electronic connectors. The late Joseph Hixon made a large investment in the company's stock in the early 1940s, and hit the jackpot with the outbreak of World War II and t

mann

Alfred E. Mann may have started out trying to be a scientist, but he has become the quintessential entrepreneur. He has founded, financed and operated six high-tech and biomedical companies over a 40-year career, including Pacesetter Inc., now the nation'

Snippets

The very wealthy? Some of them are nice, some aren't. Some are casual, some are anal retentive. It just depends.

Price

David Price is among the world's best players of golf the business of golf, that is.

Edit

The number of L.A. County residents in households with annual income of more than $1 million grew by 52 percent between 1994 and 1996, according to data prepared for the Business Journal by the Assembly Select Committee on the California Middle Class.

Wilson

Gary L. Wilson's fortunes took off after he and Al Checchi became part of a group that gained control of Northwest Airlines Inc. through a leveraged buyout in 1989.

Glazer

Real estate developer Guilford Glazer is best known locally for building the county's largest shopping center, the 3 million-square-foot Del Amo Fashion Center in Torrance, which he built in 1971 and still owns.

Richman

If you're Rock Hankin, you pilot your own single-engine Beechcraft Bonanza to business meetings, live in a 5,000-square-foot hillside home in Mountain Gate, see about 50 movies a year, drive a Mercedes S500, dine occasionally at the Bel Air Hotel and wear

Louis Gonda

Louis Gonda made his millions in aircraft leasing, but over the last two years he has moved into other areas, including commercial real estate and movie producing.

Different

F. Scott Fitzgerald's famous admonition that the rich are different from everyone else actually has some truth to it: Studies indicate that they work harder and save a lot more money.

Kamins

Philip Kamins started Kamco Plastics, a small plastics scrap yard, with his wife and brother in Sun Valley in 1963.

Gonda

While Leslie Gonda made his fortune by co-founding International Lease Finance Corp., the world's largest lessor of commercial jets, his notoriety as of late has been centered elsewhere: philanthropy.

Broad

Homebuilder. Retirement fund magnate. Contemporary art collector. Fund raiser. Philanthropist. Close friend of Mayor Richard Riordan and President Clinton.

Hughes

Wall Street has been very good to Bradley Wayne Hughes, founder of Public Storage Inc., the country's largest mini-storage company.

Joseph

Mercury General Corp. Chairman and Chief Executive George Joseph demonstrated a knack for numbers when he completed his math studies at Harvard in just three years.

Cbs

With the first phase of its expansion completed, the CBS Studio Center is planning to begin work soon on a $20 million project for two new sound stages and to add a new office complex and commissary.

Boeing

In a ceremony filled with balloons, music and congratulatory speeches, Boeing Co. rolled out its new short-hop 717 jetliner at the company's Douglas Products Division plant in Long Beach last week.

Morton

Fear and loathing in Las Vegas? Not for Hard Rock Cafe founder Peter Morton, whose foray into Sin City has been the stuff of dreams rather than nightmares.

Method

How does the Business Journal come up with the names of the 50 richest Angelenos, and how can their net worth be determined?

Peterson

Robert Petersen parlayed a young man's love of a fast car into half a billion dollars. Not bad for someone who started his publishing career with less than $500 in seed money and who hawked magazines at racing events.

Studio Architect

At a coffee shop in Studio City a couple of years ago, Gary Bastien drew diagrams of sound stages on a napkin while developer Ron Flesch looked on.

Munger

A Harvard-educated lawyer, Munger was an early associate of the legendary investor, and now serves as vice chairman of Berkshire Hathaway, the Omaha-based investment company headed by Buffett.

Boudjakdji

Millicent Boudjakdji's low-profile lifestyle is in sharp contrast to that of her grandfather, media mogul William Randolph Hearst, who lived his life very much in the limelight and inspired the Orson Welles classic "Citizen Kane."

Murdoch

At the annual Fox affiliate meeting held in Los Angeles at the beginning of June, Rupert Murdoch perhaps unintentionally resembled the power-hungry media czar in the latest James Bond thriller "Tomorrow Never Dies."

Snippet

Private jet travel is the epitome of conspicuous consumption. Our plane is configured to carry 10 people, but sometimes we carry only one passenger. A five-hour trip can cost $15,000 to $20,000, but they pay it because everything is done at their convenie

Index

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Udvar-Hazy

Steven Ferencz Udvar-Hazy was still a student at UCLA when he launched an aircraft brokerage business. But it was International Lease Finance Corp., a Century City-based aircraft-leasing firm that he formed with friend Louis Gonda in 1973, that made Udvar

WSW

With real estate investment trusts and mortgage-backed securities backing office and industrial buildings with big bucks, there's some concern that investors will be sorry they bought in when the market was hot and perhaps at its peak.

Burkle

After years of relatively quiet dealmaking, Ronald Burkle is gaining a higher profile as one of L.A.'s top business leaders both as chairman of Fred Meyer Inc. (which owns Ralphs Grocery Co.) and as managing partner of L.A.-based Yucaipa Cos., the inves

Hollywood

Paris is chic. London has royalty. Rome has the Pope and New York is well, New York. But for decades many of the world's wealthiest have shunned all those places to settle in Los Angeles.

Chandlers

It has been a tumultuous year for the Chandler family. Dorothy Buffum Chandler died last summer and her son Otis Chandler, who at one time ran both Times Mirror Co. and the flagship Los Angeles Times newspaper, stepped down from the board after 36 years.

Colburn

Richard D. Colburn's wealth may come from buying into distressed companies and turning them around, but his passion has always been music.

Wage

L.A. County may soon have a "living wage ordinance" of its own although one considerably weaker than the measure adopted by the city of Los Angeles last year.

Newrich

After watching his company's stock price climb steadily for a year, Brian J. Farrell decided last fall to cash out a small portion of his options $1 million worth, to be exact.

Newnippets

The very wealthy? Some of them are nice, some aren't. Some are casual, some are anal retentive. It just depends.

Magic

Throughout L.A. City Councilman Mark Ridley-Thomas' long campaign to return NFL football to the Memorial Coliseum, one assumption stood unchallenged: that the black community was firmly behind him.

Yachts

Few things convey a sense of wealth and power in the same way as a sleek yacht. And as the economy has come back to life locally and nationally, so has the yacht business in the Los Angeles area.

Manager

When Marvin Davis, Lee Iacocca, Geraldo Rivera and Barbra Streisand want their millions invested, they turn to Century City-based fund manager Todd Morgan.

Rich Overview

Consider that 18 of the 50 people on the Business Journal's richest Angelenos list are billionaires.

Queensway

The new Long Beach debuts this week, with the opening of the first major components of the city's $300 million Queensway Bay project.

Watson Family

The Watson family's roots in Los Angeles go about as deep as anybody's. It started in 1784, when King Carlos III of Spain granted Juan Jose Dominguez 76,000 acres of land for his service as a soldier in the Spanish Colonial Army.

Winnick

A onetime furniture salesman, Gary Winnick was with Michael Milken in the late '70s, when junk bonds became the accepted way to finance dealmaking.

Singleton

There is nothing more embarrassing than to come across a mistake in our newspaper. In 22 years as an editor and reporter, I've been faced with a few doozies.

Milken

While brother Michael Milken continues to garner most of the headlines, Lowell Milken has quietly taken over day-to-day management of the Milken Family Foundation, which offers financial support to charities ranging from education to cancer research.

Overview

Last year, when the Business Journal compiled its list of the 50 wealthiest people in Los Angeles, the price of admission was $300 million.

Middleman

The director of public relations for ad agency Saatchi & Saatchi in Los Angeles, the 36-year-old Bayless drives a Mazda Miata roadster, has a Golden Retriever named Hannah and likes to spend time on weekends kayaking in the South Bay.

Poorman

Los Angeles may be riding the crest of economic good times, but the further you travel down the income ladder, the more the wave resembles a trickle.

Chernick

Aubrey Chernick started his company, Candle Corp., by selling software code out of the back of his car. Now Candle is a $313 million company with 1,542 employees worldwide and Chernick is the majority owner.

OroAmerica

Burbank-based OroAmerica Inc., the largest manufacturer and distributor of gold jewelry in the nation, has seen its stock more than double in the last five months, going from less than $5 in January to $11.06 last week.

Part-Time

Some of the wealthiest people influencing Los Angeles today do not appear on the list of richest Angelenos because their primary residences are elsewhere.

Newcomers

If there is one thing most of the newcomers to the list of L.A.'s wealthiest have in common, it's that they tend to keep under the media radar screen.

Industries

What's the surest route to big riches in Los Angeles? There actually are several, and they tend to mirror the local engines of economic growth.

Letter

Twenty-six years ago, as president of the Century City Chamber of Commerce, I presented the first proposal for the combination of Little and Big Santa Monica boulevards. The plan had been developed by traffic engineers hired by Alcoa to solve what clearly

Bank america

The new BankAmerica Corp., after strategizing in the wake of its $62.5 billion merger agreement with NationsBank, has identified Los Angeles as its most important market nationwide. As a result, it plans to aggressively expand market share here by going a

Elrey

It's the battle of the wig shop vs. the concert hall, and it has tempers flaring in the Miracle Mile district.

Roski's

Next month, Kearney Real Estate Co. will seek approval from the city of El Segundo for a $200 million, 1.1 million-square-foot development on a former Chevron Corp. oil field in the shadow of Los Angeles International Airport.

Kotkin

With Social Security reform drawing ever nearer, you need to give some thought to how it might change your life.

Digest

Wells Fargo Bank, which became a huge presence in Los Angeles after acquiring L.A.-based First Interstate Bancorp, last week agreed to merge with Minneapolis-based Norwest Corp. in a stock deal valued at $32 billion.

Monday, June 8

Bank

The federal government's plan to stop mailing out paper checks and instead transfer funds electronically initially raised the hopes of local community activists.

Q & A

Wall discovered the Internet in 1995, when people first started realizing the medium's entertainment potential. Intent on uniting Hollywood content with the convergence of computers and television, he established Web-site designer BoxTop. The company quic

Names

These are not high schoolers selling snowboards, but the latest wave of local companies that have created names meant to grab attention and convey a message.

Scheib

Back in the days when Earl Scheib was the king of auto paint, Johnny Carson parodied Scheib's cheap assembly-line methods by dunking a mop in a bucket of paint and then slopping it on a car. Today, six years after Scheib's death, Earl Scheib Inc. is revam

Market Column

Thanks to an economic uptick, all kinds of media in L.A. are reporting increases in ad spending but none of them appears to be growing as fast as radio.

L-Schulman

For the record, more than $275,000 was raised from Los Angeles' business and corporate sectors for Big Sisters of Los Angeles (BSLA) and its services for at-risk girls and young women, through the recent gala sponsored by BSLA's Professional Associates. W

History

Directors of Burbank-based Lockheed Aircraft Corp. declared a 50 cents per share dividend, the company's first stock dividend since 1946. Lockheed President Robert E. Gross said it was company policy to declare dividends from time to time, without regard

Magic

After being criticized for opposing the redevelopment of Santa Barbara Plaza, Los Angeles City Councilman Mark Ridley-Thomas last week opened talks with developer Earvin "Magic" Johnson in hopes of moving forward on the Crenshaw shopping center's rehabili

Margin

It's my pleasure to introduce Chris Woodard, who last week joined our editorial team as head of the San Fernando Valley Business Journal. Chris will be working with Shelly Garcia and Wade Daniels, who have contributed greatly during the first few months o

Politics

It used to be a simple political axiom in California: business would side with the Republican candidate for governor, while labor and environmentalists would side with the Democratic candidate.

At Home

Some home-based workers scrimp on the number of telephone lines by having one line shared between family and business. Unless you never do business by phone, this is a mistake.

Dodgers

On the surface, the once-staid Los Angeles Dodgers "family" seems in disarray. Marquee players suddenly disappear, new ones get hired, different executives are cut in or out of each deal, frantic ad-hoc press conferences are held.

Staar

Whether blind as bats or merely squinters, people with less than 20/20 vision endure a lot to improve their view of the world. They fumble daily for glasses on nightstands, or frantically search bathrooms for a missing contact lens. They even permanently

Newsmakers

Kelly P. Green has been named senior vice president and account director at Campbell-Ewald Advertising. Based in the Los Angeles office, Green will have overall operations responsibility for Coco's, DirecTV Interactive, Hughes Corporate and Asiana Airline

Oped #1

In a substantial lease deal for downtown Los Angeles, KPMG Peat Marwick has leased 122,835 square feet five full floors in the IBM Tower at Wells Fargo Center and its name will supplant IBM's atop the Bunker Hill tower.

L-Smoking

Scott Holleran ("Smoking Ban Violates Everyone's Rights," Commentary, June 1) fails to understand the democratic process. Voters elect representatives who propose, debate and vote on legislation that represents the views of the voters. Voters turn out and

Build

Long regarded as one of the most cumbersome and least business-friendly city departments, the Los Angeles Department of Building and Safety has tried to turn that image around.

AT & T

In May 1996, Barak Bussel, vice president of Beverly-Hills based liquor exporter Saybrex International Inc. received a troubling phone message from his long-distance phone company AT & T.;

Company Index

A

Westfield

So what company is poised to become the largest owner of shopping malls in California and Los Angeles?

Bagels

A Van Nuys-based bagel maker is looking to go where no bagel maker has ever gone before.

Computer Column

When the designers at IBM invented that little blue pointing device that sticks up between the "G" and "H" keys on a laptop computer keyboard, it was widely considered an efficient solution to a persistent PC problem.

Intertainer

The folks at Santa Monica-based Intertainer Inc. are betting their fortunes on a simple theory: Entertainment is chaos.

WSW

It seems that whenever securities brokerages change hands there is inevitably litigation, and the takeover of the old Beverly Hills-based Dabney Resnick firm by Torrance-based Imperial Credit Industries Inc. is no exception.

Persfi

When I went to junior high school, back when dinosaurs roamed the Earth, we had three required "life skill" courses: hygiene (bodily health and where babies come from); home economics (cooking and sewing, for girls only); and shop (sawing and sanding, for

Forum

Travel-industry experts are projecting one of the busiest summers on record. Early signs show that consumers are hitting the road in larger numbers and paying higher prices for their vacations. A strong U.S. economy is fueling the travel boom, with inflat

Correction

The June 1 story on largest public companies mistakenly identified Gary Schlossberg. He is an economist with Wells Fargo & Co.

Mall List

Edward "Ted" Schreck backed into health care administration while teaching American secondary school in Switzerland. He responded to a want ad seeking someone to handle continuing medical education and landed at Sutter Hill/St. Joseph Health System in San

Oped #2

For several years I have met friends at the Boulevard Cafe for breakfast. The Boulevard Cafe is located in the Santa Barbara Plaza in the Crenshaw district of Los Angeles. Invariably someone will complain about the boarded-up and burned-out buildings, swa

LA Stories

L.A. Mayor Richard Riordan could very well have been on the podium last week, basking in the admiration of his supporters while accepting the nomination for governor.

Clinton

Flash forward to 2001. President Clinton's second term in office has ended, and the president and first lady are about to retire to ... Arkansas?

Weekly Briefing

Stewart Wyner is president of Full Service Printing, a shop on Venice Boulevard near the Miracle Mile district that has been in business since 1982. Wyner's printing work consists mostly of stationery and brochures for small businesses, ad agencies and ma

Digest

Boeing Co. last week announced that it will phase out the MD-11 jetliner produced in Long Beach, dealing what may prove another serious blow to L.A. County's aerospace industry.

Scope

Santa Monica has become so popular with creative-oriented office tenants that rents there have soared beyond the reach of many looking to migrate west.

Farmers

Fresh fruits and vegetables, direct from the country, sold in open-air stands right in the neighborhood.

LA Care

Los Angeles County's new health maintenance organization is struggling to compete against the health care giants in the multibillion-dollar battle for Medi-Cal patients.

Showbiz

MTV, which helped shape pop culture in the 1980s with its frenetic music videos, is taking its act to the big screen.

Entrepreneur's Notebook

How do effective managers keep valuable employees? Larger salaries are not the answer.

Venture

With their numbers growing and their visibility increasing, high-tech companies along the Ventura (101) Freeway Corridor are finding it easier to attract venture capital.

Sunday, June 7

Margin

Every month we honor a member of our newsroom staff with an award for editorial excellence. This month it goes to our photographer, Todd Frankel.

Monday, June 1

Rehab

The seismic retrofit of L.A. City Hall, first estimated to cost $92 million, is now expected to cost taxpayers $350 million or more likely making it the most expensive quake reinforcement project for a single building in California history.

L-Reyes

I read with great interest the opinion piece by Mr. Drake and Mr. Miller ("Media Drives Public Dislike of HMOs," May 18). It is not the media that drives the public dislike of HMOs. It is the HMOs' treatment of their patients that drives the public dislik

Oped #1

California's law banning cigarette smoking in bars is running into resistance among Californians; bar owners have challenged the law, the Assembly recently passed a bill which would postpone implementation, and Gov. Pete Wilson recently said he would cons

Computer Column

Microsoft Windows 98, soon to be available at a store near you ($109 list price), or with nearly every new PC, is an upgrade of Windows 95, not a major new version of the Microsoft operating system.

Apartments

The 1,176-unit Wyvernwood Garden Apartments in Boyle Heights, one of the largest housing complexes in Los Angeles, has been sold by owner Samuel Mevorach to Thurman Los Angeles LLC.

Forum

While consumers long have been wary about entrusting credit-card numbers to the Internet, improvements in encryption software are making online transactions safer than every before and consumers appear to be responding. One recent study found that 30 pe

LA Stories

Some elected officials in California, conscious of the importance of their public image, spend considerable amounts on their wardrobes. But not L.A. County District Attorney Gil Garcetti who was spotted last week trying on suit jackets at the West L.A.

Porter

Bulldozers are once again rolling on the huge Porter Ranch development, which had been largely stalled by the real estate recession since its approval in 1990.

Techtalk

Sony Pictures Entertainment's "Godzilla" may not have made a killing at the Memorial Day box office, but the monster's swarm of offspring that overrun Manhattan in the film captured audiences' attention. VisionArt Design & Animation, a division of Santa M

TV

Terry Maloney and his partner Mindy Morgenstern are nervous. The two young TV sitcom writers, to use Maloney's words, are "sitting on pins and needles by the phone" waiting for the good news that they have been hired on for the fall TV season.

Weekly Briefing

Jack Armstrong worked in the non-profit sector for years, most recently as director of a mental health center in Beverly Hills. He enjoyed his work, but realized that his real passion was in the communications field. In college, he had majored in broadcas

Munger

There's no need to fly to Omaha, Neb. to glean investment wisdom L.A. has its very own financial oracle, right here in Pasadena.

Entrpreneur's Notebook

With its lavish nightclub/arcades performing below expectations, Sega GameWorks has shifted its focus. It now wants to put smaller, family-oriented arcades in malls across the nation.

WSW

What happens when Beverly Hills-based Dabney Flanagan LLC, private investment bankers, teams up with Torrance-based Consolidated Capital of North America Inc., steel fabricators?

Ask Lorraine

Question: I manage an integrated marketing services business. Communication is essential to our success, both internally and externally. Lately my employees have been communicating frequently with each other, but mostly on a negative level, and I have fel

History

40 YEARS AGO THIS WEEK: Union Oil Co. was preparing to drill a wildcat oil well on the Paramount Pictures lot near the corner of Santa Monica Boulevard and Western Avenue. Union Oil, which was planning to drill to a depth of 4,500 feet, conducted the proj

Oped #2

Twenty years ago on June 6, California voters approved Proposition 13 and signaled revolutionary change in the state's tax structure. Love it or loath it, Proposition 13 has survived the test of time, including assaults by opponents, initiative challenges

Persfi

Memo to baby boomers and twentysomethings: It's time to grow up and accept the truth about Social Security. The system won't fail. It will be around when you retire.

Water

Operators of Magic Mountain's Hurricane Harbor amusement park in Valencia are hoping for one thing this summer:

CFA

Bonkers Clothing Co., which manufactures clothing for children and juniors, has a health care program, but the company only offers the plan to its 12 management-level employees. The 28 workers who cut fabric and ship garments are not covered.

Company Index

A

L-Pak

As a resident of the nearby airport community of Playa del Rey and chair of Opportunity LAX, a recently formed organization which advocates working within the LAX master plan process, I feel it is important that I raise my voice against those who wish to

Investigators

Looking to beef up its investigative strength in white-collar crime, accounting/consulting giant Deloitte & Touche LLP has joined forces with the Emerald Group, an international investigative company based in Westlake Village.

Margin

One way of measuring how L.A. has changed over the last 10 years is to look at the Business Journal's list of 100 largest public companies.

Newsmaker

Eileen F. Ramey has been named national practice leader of Deloitte & Touche LLP's integrated health group. Ramey, a principal with the firm, will drive the business, human resources and marketing strategy of the group. In addition, Steve Ogren will direc

Interview

At first glance, Maurice "Corky" Newman, who is old enough to collect Social Security, doesn't fit into the ultra-hip apparel business. No matter especially since he is heading one of the largest swimwear manufacturers in the United States.

Earns

Last year was a particularly profitable one for the vast majority of L.A.'s 100 largest public companies.

Top Cow

Top Cow Productions Inc. has in the six years of its existence grown into the third-biggest comic-book publisher in the nation. And its success is largely driven by themes and drawings that are targeted at grown-ups.

Market Column

For years, it's been an axiom among political consultants that when you're running a tough campaign, you win by getting tough. And that means you have to sling some mud.

Site Selection

It's not who you know, it's where you GO! Today's numerous meetings are held for a multitude of reasons, including: education, training, sales, team building, new product introduction and reorganization. Since the success of these meetings in significan

Edit

First it was the Asian flu, followed by the India and Pakistan nuclear threats, and just last week a near collapse of Russia's financial markets. Almost by the day, the world is becoming increasingly unsettled, both politically and economically and cont

Digest

It would have been wise to repeat that mantra last week when nearly all of the nation's pagers went kaput as a result of a massive computer failure by a satellite orbiting overhead. Doctors were left wondering which patient was trying to reach them. Money

Smallbiz

The go-go '80s are over, and so are the days of enormous stretch limos. When it comes to chauffeured transportation in the '90s, conservative luxury sedans are the new status symbol.

Benchmarking

Benchmarking Study Identifies Criteria For Success

Marina

If you're looking for signs of the aging of the baby boom generation, look no further than the Marina City Towers in Marina del Rey.

Construct

The reconfiguration of a two-mile stretch of Santa Monica Boulevard between the San Diego (405) Freeway and the Beverly Hills city limit near Wilshire Boulevard is moving forward, thanks to a $216 billion transit bill approved by Congress late last month.

Planners Shun Low-Cost Carrier

Planners Shun Low-Cost Carriers

Sangabe

Small businesses in the San Gabriel Valley will soon have another source of potential financing.

Public

The recession may be over, but it has dramatically and permanently changed the face of public companies in Los Angeles.

Voit

With demand for high-quality industrial real estate soaring, the Voit Cos. is shifting gears in its development of the former General Motors plant in Panorama City.

Mba

When Chris Jarvis graduates this month from the Anderson School at UCLA, MBA degree in hand, he will not join an investment bank or international consulting firm, like many of his classmates.

Handshake

Developers with major projects before the city are dominating lobbying expenditures at City Hall, taking four of the top five slots in first-quarter spending reports filed with the L.A. city Ethics Commission.

Rebriefs

Not only has Alexander Haagen Properties Inc. recently undergone a major change in management, but now the Manhattan Beach-based retail real estate investment trust is changing its name.

Photo Journies

Meeting planners often struggle with the effort to come up with something different or out of the ordinary for their next big corporate get together. Sitting around the same old table in the same old stuffy conference room just doesn't lend itself to cre

Golf

Twenty years have passed since Evelyn Overton and her husband opened the first Cheesecake Factory restaurant in Beverly Hills. The Calabasas-based chain today owns and operates 23 outlets nationwide and that pace is about to ramp up.