Stories for May 2001
Monday, May 28
The Long Beach Redevelopment Agency will take a major step toward filling a void in the city's downtown this week when it narrows the list of bidders for development of the Promenade, a strategically located property running adjacent to the city's trendy
Investors are suddenly betting on online wagering company Youbet.com Inc. after the Woodland Hills company inked a deal with TVG, a unit of Wall Street darling Gemstar-TV Guide International.
Buried in the hoopla of Boeing Co.'s decision to move its corporate headquarters from Seattle to Chicago are the plans to relocate its Phantom Works advanced research and development unit to Seal Beach.
The two men walking down Hollywood Boulevard last week in skimpy women's underwear, towering high heels and feather boas gave new meaning to the nickname "Hollyweird."
The Westside office market remains in a state of flux, as tenants and landlords actively try to come to terms with the vast amount of sublease space defining the market. The stalemate has arisen as landlords remain reluctant to drop asking rates and tenan
The beaches still glisten, the glamour of Hollywood remains, yet L.A.'s tourism officials are wondering whether this will be the summer of their discontent.
Once upon a time (and not that long ago), it took many years to build a business from scratch. First you had to set up shop, invest a little money in advertising, build a client base, and eventually word of mouth would either make or break your business.
For the past few years, everything seemed easy. Most stocks rose. Every time you opened your 401(k) statement, it was worth more. Growth mutual funds soared. Some of your stock picks reached the moon. You thought investing was easy.
The developer of Staples Center is rushing to get final approval of its massive second phase entertainment/retail /hotel project before outgoing Los Angeles City Council members and Mayor Richard Riordan leave office on June 30.
With the general election now a week away, former Assembly Speaker Antonio Villaraigosa and City Councilman Mike Feuer appear to have won the endorsement derby in their respective races for mayor and city attorney.
The words "just-in-time manufacturing" might evoke images of vast automotive assembly lines, but the principles that revolutionized large-scale American manufacturing in the '70s and '80s are being applied on a smaller scale all over the country.
Catching the latest blockbuster at the multiplex may cost film buffs more this summer, as local movie theaters, many already in deep financial trouble, face a double feature of summer woes: rising energy prices and the possibility of rolling blackouts.
Three years and $300 million since it began, the extensive seismic and architectural restoration of City Hall has restored the polish and pride to a one-of-a-kind civic gem
Almost 12 years ago, Don Rubenstein was living out of his car in a parking lot of a Los Angeles country club, where he spent his days working as a caddy. After getting a job in the golf shop at the club, Rubenstein used the experience he had gained while
A few weeks ago, I wrote a column extolling the virtue of newspapers. I left out the most important thing. With a newspaper, you can skip over the stories you don't want to know about.
Inside the glassy towers of the downtown Westin Bonaventure, the management of L.A.'s largest hotel is rolling out the red carpet hoping that this summer delivers a more abundant crop of guests than did the early part of the year.
Fifteen years after winning the best picture Oscar for "Platoon," Oliver Stone is heading back to Vietnam.
Career Turning Point: Starting her own company, January Productions. Through that experience, she realized that a person really is in control of their destiny, and must reach as far as possible.
Long before gasoline jumped above $2 per gallon, owners of L.A.-area theme parks had invested heavily on sprucing up, adding rides and developing new attractions, all with the expectation that the improvements would draw hordes of visitors this summer.
I travel frequently and this site provides great restaurant recommendations in the United States and now in select international cities. They have London, Paris, Tokyo, Toronto and Vancouver. It's a nice simple site, you log on and pick the city, the cuis
Cars and Stars: The combination is quintessentially L.A. The Petersen Automotive Museum opens its 4th annual "Cars & Guitars of Rock 'n' Roll" exhibition with a star-studded, high-speed party and auction. Janis Joplin's psychedelic Porsche, Jeff Beck's 19
The United Food and Commercial Workers, emboldened by its victory last month in organizing three Los Angeles-area grocery stores owned by the Mexican giant Grupo Gigante, is preparing to launch similar organizing drives at other fast-growing independent s
Within the next few weeks, advanced-stage testing is scheduled to begin in Los Angeles on a new technology that will enable groups of jets to fly long distances in near-perfect alignment, with their wings almost touching, thereby saving the airline indust
The U.S. dollar is plenty powerful on international currency markets, which means that foreign shoppers in Los Angeles will at somewhat of a disadvantage this summer, with their native currencies having less buying power.
Hollywood, Disneyland and beaches may top the to-do list of many tourists, but hoards of them will end up seeing everything from African dancers to Dutch tulips to wooly mammoths.
Though employed by a Woodland Hills company, Pat Clarey will be focusing most of her efforts on Capitol Hill, as she undertakes her new position as vice president of government relations for Health Net Inc.
The presence of foreign-owned banks in California, and Los Angeles in particular, has faded dramatically over the past decade, reflecting the local impact of global banking consolidations and financial turmoil, particularly in Japan, according to a new re
A shake-up in local television news operations could be in the offing if News Corp.'s $5.3 billion purchase of 10 Chris-Craft Industries Inc. television receives final approval from the Federal Communications Commission, as expected.
The stakes involved in Century City-based Northrop Grumman Corp.'s hostile $2.6 billion takeover bid for Newport News Shipbuilding Inc., formally tendered last week, are bigger than previously reported.
In the burgeoning and competitive data storage business, where heavyweights like IBM Corp., Compaq Computer Corp., EMC Corp. and Network Appliance are vying for domination, little-known Troika Networks is turning heads.
He may not be the "Oracle of Omaha" Warren Buffett, of course but our own Charles Munger, chairman of Pasadena-based conglomerate and insurer Wesco Financial Inc., is a veteran and well-regarded investor in his own right.
How about a pair of shoes that open up into a book, or a shirt that can be used as an oven mitt? Or are you waiting for the first-ever combination cappuccino maker-cordless drill?
If L.A. Mayor Richard Riordan follows through on his intention to explore running for governor, his high name recognition, deep pocketbook and moderate political stance should immediately vault him to the front of the short list of Republican candidates t
So the people over at the extension center at California State University, Northridge decided to take a different approach in trying to attract new students.
Following months of debate, the Santa Monica City Council passed a tough coastal living wage that requires employers in the city's tourism zone to pay their workers at least $10.50 an hour.
Many hospitals have been struggling just to keep their doors open, largely due to low reimbursement rates paid by managed care plans. But Tenet Healthcare Corp., the largest hospital operator in the Los Angeles area, has pushed for and achieved higher
Romp.com, the bawdy Web brainchild of Michael Eisner's son, Eric, has effectively shut down, its founders choosing to focus instead on traditional media projects, including developing an animated feature film and magazine.
With his 101,000-mile undersea fiber optic network nearly complete, local telecom billionaire Gary Winnick is launching an all-out offensive to become the global digital pipeline for Hollywood. The outcome of his ambitious effort could well determine whet
Goal: To enter the Latin American market, increasing the number of countries sold into to 45
Monday, May 21
Los Angeles' richest are managing some of the largest amounts of wealth in the country, yet many choose to do so in an office no bigger than that of a startup.
Gravely disappointed in NASA's decision last March to cancel an experimental reusable rocket program on which $1.3 billion has already been spent, Lockheed Martin Corp. has vowed not to let its next-generation project go gently into that good night.
L.A. Mayor Richard Riordan's endorsement last week of mayoral candidate Antonio Villaraigosa could very well give the former Assembly Speaker the boost he needs to come out on top in the close June 5 runoff election.
Birds of a feather flock together, as the saying goes, and that's certainly true of the L.A. flock that holds the most golden eggs.
In looking over this year's list of the 50 wealthiest Angelenos, there are a number of well-known names missing, many of whom have been included on the list in years past. Below are status reports on a few such people.
Tupa's Missions: Mission lovers will not want to miss the L.A. Central Library's exhibition of paintings of regional missions by Benedictine monk Father Jerome Tupa. The prolific painter brings a bold and contemporary aesthetic to his interpretations of t
While L.A. moguls are obviously mere mortals they go through divorces (personal and business), back losing political candidates and sometimes say stupid or regrettable things their investment portfolios are churning out otherworldly returns.
And while the fall of some of L.A.'s richest, most powerful and most talented business leaders may not have reached tragic proportions, several individuals have nevertheless descended from once-lofty perches in remarkable ways.
For the past two decades, the list of richest people in Los Angeles has been as kaleidoscopic as the local economy. A mix of well-established media content owners, real estate developers and financiers with their money in a multitude of local and national
The investment arm of Insignia/ESG Inc. is in escrow on a $124 million deal to buy the 486,000-square-foot office tower at 1888 Century Park East in Century City.
With the Writers Guild of America's threatened strike effectively a thing of the past, there are strong indications that Hollywood is gearing up for a new round of production activity and at a faster pace than most insiders had expected.
Some might describe it as a godsend, making elevator rides no longer the most boring, sometimes uncomfortable moments of the day. Others might curse it as destruction of what traditionally has been among the few remaining sanctuaries where one could escap
Fred Sands, the distressed bond maven? The corporate turnaround master? The vulture after the big vigorish?
One of the largest industrial parcels to hit the L.A. market in 20 years a 47-acre site just north of The Citadel retail outlet in Commerce has been put up for sale by the Pacific Tube Co.
At least that may be the understandable assertion of the numerous L.A. moguls who have seen their empires seriously diminished by gargantuan divorce settlements.
Even as other U.S. semiconductor companies continue to falter as the demand for personal computers slows, International Rectifier Corp.'s diversification into broader applications has helped push its stock price up nearly 100 percent in the past six month
Keeping in silent tune with his image as the J.D. Salinger of the business world, billionaire investor Kirk Kerkorian has quietly completed building a plush new home in Beverly Hills, where he will reside as the wealthiest Angeleno.
Building a centimillion- or billion-dollar empire is no easy feat, but dismantling it in a responsible manner can present an even bigger obstacle course.
Attempts to stop or even curtail the ongoing, flagrant violations of federal labor codes by L.A. garment makers are proving largely futile, and labor officials are openly conceding that they have no effective strategies for dealing with the situation.
Entrepreneur Alfred Mann is close to reaching a final agreement with UCLA over his proposed $100 million donation for a new biomedical institute, after years of delay that had threatened to scuttle the project.
High-priced and highly publicized divorces have for years been part and parcel of being a member of the financial elite. Most of the time, they involve the division of husband and wife.
As enrollment at the Westwood campus explodes, UCLA officials are scrambling for ways to further improve and expand their facilities to accommodate the influx of students.
Here's a novel way to end the debate over what to do with the mostly built Belmont Learning Center: Tear it down and build a golf course.
Further solidifying its commitment to Hollywood, the Academy of Motion Pictures Arts and Sciences has agreed to buy a 120,000-square-foot building on Vine Street to house its artifacts and archives.
Despite the less-than-ideal economic climate, Swiss creative director Liliane Lerch has launched a new boutique advertising agency, Beige Communications, in Venice.
An analysis by the Business Journal of all 270 Zip codes in the county shows that wealth over the past decade has been shifting into more centrally located areas of the Westside like Beverly Hills, Santa Monica and Pacific Palisades.
With the initial contract for production of C-17 cargo planes set to expire, the Air Force and Boeing Co. are lobbying hard for an extension of the program, including offering incentives to the nation's commercial airlines and cargo handlers to buy the pl
Hoping to accelerate the growth of the region's sluggish biomedical technology industry, USC and Los Angeles County are exploring the joint development of a biomedical industrial park in the Boyle Heights area.
The team that started the popular club Fuel is planning a makeover for the nigthspot, capitalizing on Hollywood's increasing cache and making it the 'hardest door in L.A.'
Hard-driving achievers take everything to the limit around the globe, and beyond
In accepting L.A. Mayor Richard Riordan's endorsement last Wednesday, former state Assembly Speaker and mayoral candidate Antonio Villaraigosa apparently wasn't looking ahead far enough.
The super rich have always been politically active, and the current crop of the wealthiest Angelenos is no exception.
From Kirk Kerkorian to David Geffen to Marvin Davis, the wealthiest people in Los Angeles are a pretty well known bunch. Not so the money managers who handle all those mega-fortunes.
Background: Fresno-born son of Armenian immigrants Self-made multibillionaire Began amassing fortune at age of nine by selling newspapers and hustling odd jobs Dropped out of eighth grade to become amateur boxer Nicknamed "Rifle Right Kerkorian" Even
It reads like any murder trial, any prosecutor vs. killer. Only this suspected "killer" was 14 years old. And at one point, the veil slipped.
Despite soft consumer demand and first-quarter earnings shortfalls by national retailers, an East Coast children's clothing chain is plunging headlong into Los Angeles.
Most of L.A.'s wealthiest businesspeople fall into one of two broad categories builders or investors.
Monday, May 14
Maybe it's the fear of an actors' strike. Maybe it's the success Matthew Broderick has found on Broadway in "The Producers." Whatever the reason, movie stars are suddenly turning to the theater again though not always to tread the boards.
A dark cloud is hanging over Authentic Fitness Corp., the L.A.-based manufacturer of several major swimsuit lines synonymous with sun and fun in California, as its parent company Warnaco Group Inc. struggles to stay out of bankruptcy.
The pace of leasing at the former Macy's department store building in Westwood Village, which has been closed during renovations that have lasted more than two years, has picked up.
Rising fuel costs, both gasoline and diesel, are putting the squeeze on L.A.'s fleet operators.
When Emilie Davidson Hoyt started Lather Inc., she was the company's sole employee, working out of her apartment. Three years later, Davidson Hoyt, 27, is selling her line of bath and beauty products on the Internet, by mail and out of a Lather store on C
The longtime safe of legendary studio mogul Jack Warner is proving so tough to open, the Army might be called in to crack it.
A new restaurant opened recently in my neighborhood and tried to use a unique concept to separate itself from competitors. It offered a variety of fish and meat along with a selection of preparation methods and sauces that diners could pair as they please
After years of false starts, questionable alliances, tens of millions of dollars in R & D; expenditures and no revenues, a small Long Beach company appears to poised to obtain preliminary approval for what would be the region's first new business jet manufac
While the headline-grabbers at last week's mayoral debate may have been all about law enforcement, the forum did provide a rare opportunity to hear the candidates' views on business-related issues.
Core Business: Environmental graphic design for buildings, places and spaces
Realizing there is strength in numbers, the Foundation for Taxpayer and Consumer Rights is attempting to build a coalition of medical professionals and business leaders to wrest a bigger piece of the health care pie away from the giant health maintenance
There is a "perfect storm" brewing for many Southland public companies, and investors better be thinking about battening down the hatches, said Russ Hagey, partner in the downtown Los Angeles offices of Bain & Co., the business consulting firm.
The Detroit Free Press, the newspaper for which I work, celebrated a birthday this weekend. It is 170 years old.
Local hospitals already facing a shrinking pool of qualified workers, growing numbers of patients and reimbursement delays are now being subjected to some of the most aggressive union organizing drives in recent history.
Earlier this month, groups of Chinese hackers were supposed to be launching an all-out attack against American Web sites to protest the April 1 collision between a Chinese fighter jet and a U.S. spy plane. Some media reports made it sound like the Red Arm
The number and depth of partnerships being struck between the major Hollywood studios is rapidly accelerating, further concentrating the industry's power base to cartel-like levels.
While downtown Los Angeles has been generating the most buzz when it comes to loft housing emerging in an urban setting, a Brentwood investor is planning a $30 million loft and retail project in Hollywood.
Once one of the leading spenders in the international theme park business, Universal Studios has put a halt to further expansion as it reviews the cost of keeping up with rival Walt Disney Co. in the resort business.
Buoyed by a city-backed refinancing plan that will help keep it above water, Long Beach's Aquarium of the Pacific is seeking federal funds to study the possibility of an expansion.
Individual investors have been scoring poorly of late in a game that purports to test their stock market savvy.
Drawing on his experience in entertainment, David Forbes is aiming to put Global Animation Holdings on the cutting edge.
The outbreaks of foot-and-mouth and mad cow diseases in Europe are inflicting pain on Los Angeles-area manufacturers and wholesalers that deal in leather, and that pain will likely hit consumers soon.
Gerry Philpott is looking to build his fledgling Encino company E-Poll.com into the cyber equivalent of Nielsen Media Research, and he has some powerful forces backing him up.
Searing Blonde: Actress Jennifer Jason Leigh has made a career out of portraying strikingly beautiful and beguiling characters. The Egyptian Theatre's "Hearts on Fire: A Tribute to Jennifer Jason Leigh" festival offers a sweeping look at Leigh's past film
If you have a life insurance policy that you don't need or want anymore, you might be thinking of selling it. You were probably attracted by an ad for "life settlements" or "senior settlements." That's cash money for a policy that you'd otherwise let go.
Bloating technology infrastructure. Increasing losses. Unpredictable revenues. GenesisIntermedia Inc. has all the makings of a stock that should be lost in the Dumpster. But it's on a roll.
Prime Ventures LLC of Santa Monica significantly upped the ante in its bid to turn its ailing Internet health care company Drkoop.com Inc. into a sustainable operation with the April 16 announcement that it would acquire IVonyx Inc. and bring it under the
This site chronicles an expedition where a Slovenian skier climbed up and then skied down Everest, from the summit to base camp. It's got video and photos of him. Just the thought of climbing Everest is a scary enough thought, but to actually ski it from
Among the various factors responsible for driving up employers' cost of health care is that care providers are finally gaining ground in their long-fought battle for a bigger chunk of the health care dollar.
Fashion is a strange thing. People spend gobs of money to look outrageous, weird or tacky just to be in tune with the latest trend.
The hottest style in L.A. design circles architecture, furnishings and fabrics is Art Deco, the sleekly elegant mode established nearly a century ago
Career Turning Point: Discovering in 1986 that Blue Cross of California was facing insolvency but deciding to stay with the company and begin the process of restoring financial strength and regaining customers' trust
Biotech entrepreneur Alfred Mann is planning to combine three of his private biotech companies and take the combined entity public later this year, he told the Business Journal last week.
When it comes to health care costs in California, it's back to a future that employers would rather not revisit.
The development team aiming to build a major entertainment/retail attraction next to Staples Center in downtown has applied for a permit that would allow 28 liquor licenses at the four-block project site. That move has triggered opposition from a communit
Bucking national and local trends, several Los Angeles tech startups attracted a flurry of private investors and inked deals as a result of a forum they took part in here on April 17.
With support for the expansion of Los Angeles International Airport stalling out, political and business leaders throughout the region are rushing to take advantage of the opportunity to push for expansion of outlying airports.
That seems to be the strategy that Northrop Grumman Corp. is pursuing with the hostile $2.1 billion bid it launched last week to acquire Newport News Shipbuilding Inc.
Monday, May 7
Where are you reading this? By the kitchen table with a cup of coffee? At the health club on a treadmill?
You can study the whole menu of 8,200 U.S. mutual funds right now without working up much of an appetite.
After two potential buyers fell out of escrow on the MTV Building, owner M. David Paul & Associates LLP likely will hold on to the Santa Monica asset.
There's an old-fashioned corporate donnybrook going on down at Milan Panic's always-controversial ICN Pharmaceuticals Inc. in Costa Mesa. And this is a wacky one, even by Southern California standards, with high-profile Angelenos battling for open board s
Sing Low: Double bassist Stefano Scodanibbio hits the low notes in a solo performance of his own works at the L.A. County Museum of Art May 21. Scodanibbio, who will release his solo record later this month, also plays with the Arditti String Quartet on M
L.A.'s long history of bank mergers is in a new chapter, as community banks combine and take a foothold in the area by catering to specific ethnicities and small-business interests.
Might Rupert Murdoch's tumultuous reign over the Los Angeles Dodgers be nearing an end?
Stanley Kubrick's "2001: A Space Odyssey" set extraterrestrial travel to the sounds of Strauss' "The Blue Danube," but now Los Angeles businessman Dennis Tito is singing his own tune in space.
Bel-Air billionaire Selim Zilkha is among those who have been making a bundle off the state's energy crisis, and now he's positioning himself to make an even bigger bundle on helping to solve it.
Serving a stick-to-your-ribs style of cooking, the owner of The Grill has grown his restaurant empire by offering an alternative to trendy L.A. cuisine
Having refashioned pool halls to appeal to a broader base of customers, Los Angeles entrepreneur David Houston is now setting his sights on refashioning the dull, beige personal computer.
The Los Angeles Dodgers have launched a marketing campaign directed at enticing more African Americans to the ballpark.
Artnet is basically a site about collecting art. You can look up information on artists, galleries, exhibitions, auctions, etc. And they also have a search engine, so you can do research. There is also news and reviews.
Seeking to capitalize on a Central American immigrant population in Los Angeles that by some accounts has exceeded 1 million, a new television station targeting that audience has been launched.
The pending $86 million purchase of Los Angeles-based Earl Jean Inc. by Nautica Enterprises Inc., announced in late April, may mark the end of one local company's independence, but it also establishes a toehold for another seeking a place in the local mer
KB Toys Inc. has agreed to pay about $5.4 million for most of the inventory of bankrupt Santa Monica Web retailer eToys Inc.
The Planetary Society, a Pasadena group co-founded by the late legendary astronomer Carl Sagan, next month will launch into space a test model of its "solar sail vehicle," which navigates space by drawing energy from the sun's rays.
The history of Hollywood lives at the Larry Edmunds Bookshop. Opened in 1939, the bookstore, at 6644 Hollywood Blvd., has made its home in four different locations over the years, all in Hollywood. The shop, which specializes in movie posters and stills a
After steadily heating up as a destination for venture capital investments in recent years, Los Angeles has suddenly cooled dramatically, according to a just-released report by local research firm Growthink Inc.
As the redistricting battle over L.A. City Council seats heats up, one big surprise is dominating the debate: the rapid growth of San Fernando Valley-centered council districts means that boundaries for other districts will be creeping towards the Valley.
Recent years have seen employers increasingly use "independent contractors" in lieu of employees, believing that these relationships simplify payroll administration, afford the opportunity to "try" a worker before hiring on a "regular" basis, and provide
Seizing on the hype and momentum of a still-unfolding Hollywood comeback, a Century City musical production company is planning to build a $60 million shopping, dining and entertainment attraction directly across Highland Avenue from TrizecHahn Corp.'s ma
Goal: To maintain a superior quality of coffee and grow the company's customer base of retail chains and office clients
Builders hoping to develop certain hillside properties in Los Angeles may have to reconsider their plans due to new zoning standards adopted by the city.
The trouble with being a cyber-libertarian is that you spend most of your time slaying hypothetical dragons.
While General Motors Corp. last week confirmed that it has once again entered into talks to sell its Hughes Electronics Corp. unit to News Corp., some industry observers argued that the proposed marriage would be inferior to at least two other outcomes fo
Tenet Healthcare Corp., the largest hospital operator in Los Angeles County, is considering buying the financially troubled Daniel Freeman hospitals in Inglewood and Marina del Rey after another potential buyer didn't like what it saw and walked away.
Career Turning Points: Returning to Southern California in 1986 after five years working for McCarthy Construction in St. Louis; joining Walt Disney Co. in 1988; being assigned management of renovation of New Amsterdam Theatre in Time Square in 1993
What started out as the kind of hobby that could get him arrested has turned into a successful business for the graffiti artist and muralist known as Man One.
With almost daily reports of massive layoffs and warnings of economic softening, L.A. employers who have struggled in recent years to fill their staffing needs might logically conclude that they're back in the catbird seat when it comes to recruiting top
Sticking with its strategy of building affordable housing and not being tempted to expand into other markets, Ryland Group Inc. has seen its stock climb out of the doldrums to trade near its 52-week high of $51.25 a share.
Being a certified public accountant can be an exciting job. Just ask Thomas Hughes.
When it comes to pollution, forget about all the nasty manmade chemicals that have contaminated urban America.
Following the blockbuster success of "Hannibal," Metro-Goldwyn-Mayer is surging forward with a slate of high-profile projects, put together at almost dizzying speed.
Companies that provide travel services on the Internet have become this year's version of phoenixes.
While they may be paralyzed in dealing with other parts of the energy crisis, state officials have managed to agree on touting conservation as the key to getting through the summer with minimal disruptions from rolling blackouts.
Finding affordable health insurance benefits for your employees is getting tougher every year, adding one more headache to managing a small business in these challenging times.
You may not know it, but you have a personal "credit score." Your score indicates how likely you are to pay your bills on time. Lenders use it to help decide whether to give you a loan and, if so, at what interest rate.
Debra Streicker-Fine is to the Los Angeles Internet sector what an EMT is to accident victims on the freeways.