Stories for June 2003
Monday, June 30
Insurers are challenging Insurance Commissioner John Garamendi's efforts to limit the industry use of electronic claims data in underwriting homeowners' policies.
The Business Journal received two first prizes from the Los Angeles Press Club during the organization's annual awards dinner on June 21.
The Business Journal asks: Will last week's interest rate cut make a difference to you?
The Port of Long Beach continues to feel the effects of the loss of its largest terminal operator moving to the Port of Los Angeles last summer, with May cargo activity slumping 9.3 percent while the Port of L.A. had a 22.7 percent increase.
Unsecured creditors of linen retailer Strouds Acquisition Corp. have launched an investigation into whether the chain's management, lenders or secured creditors engaged in self-dealing prior to its filing for Chapter 11 bankruptcy protection in May.
Outside the entrance of the Red Line station at the corner of Western Avenue and Wilshire Boulevard, Oscar Hidalgo sits patiently at the stand from which he sells knock-off baseball caps, cheap T-shirts and assorted trinkets.
At KKBT-FM (100.3), the successful hip hop station owned by Radio One, the production director, music programmer and afternoon drivetime disc jockey were axed earlier this month following a dip in ratings.
Attorneys at the local offices of Arter & Hadden LLP began sending out their resumes after the firm's Cleveland-based executive committee met June 16 to discuss ways in which to restructure the firm.
Summaries of this week's List - Environmental Firms, ranked by number of L.A. County environmental employees
Tracking 200 selected Los Angeles County-based companies; Market Diary, Market indexes, Industry analysis, 52-week performance, weekly top Gainers & Losers, Market summary, weekly profile
Following two years of declining occupancy and room rates, a new report by PKF Consulting projects Los Angeles hotels will see revenues grow by 1 percent in 2003.
After two years of controversy over the Sunset Millennium redevelopment, developer Apollo Real Estate Advisors plans to fully reconfigure the project and add two hotels, condominiums and more parking spaces to the mix.
It's been a slow couple of years at John Wayne Airport, though passenger traffic through the first five months of the year has returned to the former highs of 2000.
Monday, June 23
Summaries of this week's List - Largest public companies, ranked by market capitalization
Nearly a year after implementation of the landmark Sarbanes-Oxley legislation, executives of Southern California public companies say they have made great progress in complying with the numerous provisions involving tighter scrutiny of corporate business.
Opposition to a bill that would extend health coverage to some uninsured adults is coming from a seemingly unlikely source Molina Healthcare Inc., the Long Beach-based health insurer that specializes in serving the poor.
WALL STREET WEST - Roy F. Farmer, the 86-year-old chairman of embattled coffee importer Farmer Bros., is incapacitated, suffering from cancer and emphysema, according to his attorney, Marshall Oldman.
The Business Journal asks: What do you do in your car on your drive to work?
California businesses have become more aggressive in disputing unemployment claims, generating unprecedented numbers of appeals from employees who have lost their jobs.
CORPORATE FOCUS: ValueClick Inc., an Internet advertising provider whose shares rode the dot-com bubble to under $2 per share, has retooled and investors have taken notice.
Named last week president and chief executive of the convention and visitors bureau, now known as LA Inc., Mark S. Liberman said his first order of business when he comes to work June 23 would be to take stock.
Monday, June 16
Richard Gephardt has been in politics long enough to know that when campaigning in Hollywood, it pays to put on a show.
The Business Journal asks: How do you feel about the prospect of Gov. Arnold Schwarzenegger?
Reeling from the weight of $1.6 billion in long-term debt and an ailing hotel industry, MeriStar Hospitality Corp Inc. is seeking to sell one or more of its Los Angeles area hotels.
Companies frustrated by regulations and high taxes are heading out of the state and taking jobs with them. PLUS: Government Sector to Lead Paltry Growth in Downtown Workforce
With the market for initial public offerings showing signs of reawakening after a three-year snooze, two large Los Angeles companies will be among the first to test its wherewithal.
A program that speeds delivery of data via the Web, recently developed by computer scientists at Caltech, has piqued the interest of Hollywood studios as a potential breakthrough in the distribution of video-on-demand services.
Summaries of this week's List - Colleges & Universities, ranked by full-time student equivalents for the 2002-2003 average enrollment period
CORPORATE FOCUS: America's swelling waistlines have meant expanding revenues for apparel manufacturer Tag-It Pacific Inc.
For most workers' compensation insurers, having a business taken over by the state is bad news. For Fremont General Corp. it's money in the bank.
While still in his 20s, Brad Greenspan managed to assemble a curious collection of Internet assets and turn it into a thriving publicly held company with big-name investors like Lehman Brothers and Sony Corp.
Monday, June 9
Summaries of this week's List - Money Management Firms ranked by assets managed as of Dec. 31, 2002
A three-judge panel in the 2nd Appellate District has ruled Blue Cross of California must go to trial in a multi-million dollar breach of contract class action suit.
What amounts to the largest boom of hospital construction California has ever seen is on a collision course with one of the state's worst fiscal crises.
Casey Wasserman was still wincing last week from his Los Angeles Avengers' season-ending playoff loss.
The state Assembly last week passed a controversial bill giving cities and counties the authority to put local income tax measures before voters in their communities.
Long after their deaths, composer Nelson Riddle and his wife Naomi are embroiled in a money fight more often found in divorce proceedings.
Audiences are increasingly receptive to advertising in movie theaters and tend to remember those ads better than advertising in other media, according to a new study by Arbitron Inc.
The Business Journal asks: Do you think Martha Stewart is being treated fairly?
There's no shortage of rhetoric in the arguments for and against state legislation outlawing the use of hand-held cell phones while driving.
Windows Steaks & Martinis, nestled on the 32nd floor of Transamerica Center downtown, boasts some of the best views of the city. But a music promoter from Atlanta claims that the restaurant operators didn't like what they saw when he ran a jazz and rhythm
What do you call the people who handle credit and finance responsibilities for your company?
A much lauded development that promised to bring hundreds of jobs to the Northeast San Fernando Valley is drawing fire from city officials who are threatening to shut down the project if its plans and ownership are not clarified.
Monday, June 2
In a bid to enhance their bargaining leverage and better adapt to new technologies, the memberships of the Art Directors Guild and the Scenic, Title and Graphic Artists union have voted overwhelmingly to merge.
The investigators at L.A. County's Acute Communicable Disease Control unit recently noticed a worrisome development: The emergency room at a local hospital had received three times the number of patients it normally did with rashes.
In the latest round of the region's never-ending water wars, two key water deals that would benefit the Metropolitan Water District of Southern California are threatening to unravel.
It's getting more expensive than ever for businesses, governments and residents to clean up L.A.'s dirty air.
Amid growing signs that companies are illegally avoiding high-priced workers compensation insurance, the L.A. County District Attorney's office is preparing to bring criminal charges against violators.
Not long after taking over AT & T; Broadband last November, Comcast Corp. instituted a bundling plan that offers AT & T;'s existing broadband Internet customers a discount if they purchase Comcast cable TV service as well.
The Business Journal asks: Are you going to play the market or play it safe?
A handful of business groups are urging the L.A. City Council to reject a proposal by the Board of Public Works to rewrite the city's news rack ordinance.
A unit of Arden Realty Group Inc. has pulled out as middleman in negotiations between the city and several downtown property owners on finding temporary headquarters for the police department.
Four months after a new security regulation covering ship cargoes went into effect, the U.S. Customs Service appears to be holding steamship lines on a loose leash.
CORPORATE FOCUS - Three years of falling interest rates have meant a windfall for a little-known Santa Monica company that invests in the arcane area of mortgage-backed securities.
When a check bounces, the retailer is stuck and the checkwriter is charged. When a credit card transaction is kicked back, whoever processes the sale takes the hit.