Stories for March 2004

Monday, March 29

Firm Hit With One-Year Ban By FDA After Testing Probe

Laboratory test manufacturer Diagnostic Products Corp. is reeling under a Food and Drug Administration probe into the integrity of its clinical trials process.

Regional Players Whose Impact Shapes National Games

Southern California's Most Influential Executives in Sports. These 25 local movers and shakers may make a splash on the sports market in years to come.

ECONOWATCH L.A. COUNTY

Charts of Economic Indicators, Real Estate, Tourism...

THE LABJ STOCK INDEX

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

LABJ FORUM - Battle Cry

The Business Journal asks: Do you think the Bush administration decided to go to war with Iraq immediately after 9/11?

CALENDAR

Calendar of L.A. business events, conventions, and announcements

BANKRUPTCIES

Weekly List of recent L.A. bankruptcies

Playing to Win

Southern California's Most Influential Executives in Sports. Tim Leiweke didn't let conventional wisdom stop him from building Staples Center; now he's on the team trying to bring the NFL back to L.A.

Access, More Than Money, Defines List Makeup

In the business of sports, having money helps. But even more important is having access to money.

THE LIST - Minority-owned Businesses

The L.A. Business Journal's list of top 25 minority-owned businesses L.A. County based; ranked by 2003 companywide revenues

Jacobs Engineering Case Puts Past Contracts Under Scrutiny

Jacobs Engineering Case Puts Past Contracts Under Scrutiny

Early First Quarter M & A; Data Fail to Support Talk of Rebound

WALL STREET WEST - Los Angeles investment bankers have been predicting a rebound in merger activity for some time, but the numbers indicate it hasn't arrived yet.

Panel Reviewing LAX Bid Shaken Up Before Choice

Days before recommending a bidder for a multimillion-dollar airport design contract three senior airport executives were placed on the evaluation panel

Wall Street Journal's L.A. Chief To Lead Hispanic Tabloid Chain

The LA bureau of the Wall Street Journal is in the midst of another shakeup, as Bureau Chief Jonathan Friedland has announced his departure to help launch a chain of Spanish-language tabloid dailies

NEWSMAKERS

Family Values Are Hallmark of TV Veteran's New Post

Monday, March 22

CALENDAR

Calendar of L.A. business events, conventions, and announcements

UCLA Forecasters Say Health Costs To Hurt Economy

Rising health care and workers' compensation costs will continue to play a significant role in keeping the nation and state economic recovery a jobless one, UCLA Anderson School's upcoming quarterly forecast will report.

Democrats Make Progress on Rate Caps for Workers' Comp

As the state Legislature confronts a March 31 deadline to craft a workers' compensation reform package, pressure is mounting for re-regulation of prices in the state.

ECONOWATCH L.A. COUNTY

Charts of Economic Indicators, Real Estate, Tourism...

THE LIST - Contingency Search Firms

The L.A. Business Journal's list of top 15 Contingency Search Firms, ranked by 2003 L.A. County revenues. PLUS: Executive Summary, Pacesetter

Review & Preview

Review of this week's other top news; Preview of upcoming stories and events.

Dealmakers Can't Resist Lure of a Good Idea

After you've made your first billion or for that matter $500 million what other deals are left to do? If you have to ask, you're probably not in the club.

Creditors, Lawyers Fight Over Shreds of Strouds Bankruptcy

A legal dogfight between the unsecured creditors committee of bankrupt linen retailer Strouds Acquisition Corp. and Newport Beach financier Walter Cruttenden has drained the company of much of the cash needed to pay its creditors and lawyers.

THE LABJ STOCK INDEX

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

Tuition Hikes Casting Cloud Over Future of Anderson's Affordability

If state budget cuts proposed by Gov. Arnold Schwarzenegger remain intact, students at UCLA's Anderson School of Management will face a likely tuition increase of between 20 percent and 45 percent next year and more steep hikes in future years.

LABJ FORUM - Cadavers and Commerce

The Business Journal asks: Would you donate your body to science?

Rivals, Activists Assail Hauler of Large Carcasses

Unlike goldfish, some dead pets can't be flushed down the toilet. Burying a horse under a tree on your ranch is punishable by a $5,000 fine or six months in jail.

Uncensored TV Project Seen as Idea Whose Time Was Stolen

A fledgling Beverly Hills production company has sued Universal Music Group Inc. and DirecTV Inc., alleging they stole its idea for an uncensored music video channel.

Inauspicious Debut for Tribune Co.'s Upscale Magazine

When one of the biggest media companies in the U.S. launches a glossy bi-monthly aimed at the upper reaches of the economic ladder in the nation's biggest media town, a mighty splash could be expected.

BANKRUPTCIES

Weekly List of recent L.A. bankruptcies

Financial Controls Spring Leak In Water Firm's Growing Unit

CORPORATE FOCUS: Southwest Water Co.'s growing services business has been a big factor in the 55 percent increase in its stock price over the past year.

THE LIST - Retained Executive Search Firms

The L.A. Business Journal's list of top 25 Retained Executive Search Firms, ranked by 2003 L.A. County revenues. PLUS: Executive Summary, Pacesetter

Religious Broadcaster Hits Static In Plans to Continue Expansion

Religious Broadcaster Hits Static In Plans to Continue Expansion

Wong, Stein Preparing Defense

Attorneys Retained Over Fundraising Investigation

Monday, March 15

Handful of Investment Bankers To Profit on State's Bond Deals

WALL STREET WEST - A group of 10 investment banks are expected to reap as much as $75 million in fees from the $15 billion in bonds that will be issued after passage of Proposition 57

CALENDAR

Calendar of L.A. business events, conventions, and announcements

LABJ FORUM - Is There a CPA in the House?

The Business Journal asks: Have you filed your taxes yet, and have the tax cuts helped?

Hahn Intensifies Lobbying as LAX Plan Deadline Nears

Faced with growing opposition to his $9 billion plan to remake LAX and a series of approval showdowns in the next few months, L.A. Mayor James Hahn has stepped up his lobbying to salvage the project.

Hahn Donor Gets Nod in Bid for LAX Design Deal

The staff of Los Angeles World Airports has recommended granting a multi-million dollar consulting contract to a major financial supporter of Mayor James Hahn

Cathay Poised for Expansion in Markets With Demographic Fit

CORPORATE FOCUS: After Cathay Bancorp acquired GBC Bancorp last October, investors waited patiently to see how much value financial institution could wring from the deal.

Risky Venture Seeking Dockworkers' Retirement Funds

A company is urging dockworkers to raid their retirement funds to invest in a risky scheme

THE LABJ STOCK INDEX

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

ECONOWATCH L.A. COUNTY

Charts of Economic Indicators, Real Estate, Tourism...

L.A. Broadcasters Setting Dials for Growth Above Billion-Dollar Mark

Coming off a record-breaking revenue year, early strength in 2004 has operators of radio stations in the Los Angeles-area projecting another strong year.

Taking Pants Offline

Born Again Clothing's Rags-to-Britches Tale Turns From Internet

This Time, the Rail's Really Ready

Nearly two years after the $2.4 billion Alameda Corridor was declared complete on time and on budget, the last portion of the 20-mile rail system has finally opened.

SEC Rules May Force Grocers to Reveal Pact's Terms

The mystery shrouding the secret pact signed by the nation's three largest supermarket chains may finally be lifted by the Securities and Exchange Commission.

THE LIST -

The L.A. Business Journal's list of top accounting firms, ranked by number of accounting professionals in L.A. County

Unemployment Fund Surcharge Could Lead to Layoffs

Jennifer Corbett-Shramo received a shock recently when she found out that rising unemployment insurance taxes would cost her janitorial firm $16,000 each month.

Back to the Track

Judge Rules Gate 1 Belongs to Santa Anita Park, Despite Deed

Monday, March 8

Doctors Can Examine Upper Range of Speedometers

Doctors long have needed a license to practice medicine. Now, under a new state program, they can also get a license to speed.

CALENDAR

Calendar of L.A. business events, conventions, and announcements

Local Officials Expect Further Sacramento Budget Pressure

Local officials were given a stay of sorts after voters approved Proposition 57, the $15 billion bailout package to help solve the state's deficit crisis.

THE LABJ STOCK INDEX

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

LABJ FORUM - Taxing the Rich

The Business Journal asks: Should the very wealthy be shouldering a larger share of the tax burden?

Wine, Wheels Wend Way to the U.S. From Down Under

Cars and wine are among the key areas to be affected by a free trade agreement the United States signed with Australia last month.

THE LIST - 50 Largest Law firms

The L.A. Business Journal's list of top 50 Largest Law firms, ranked by number of attorneys in L.A. County offices

Unhappy Director Bought Out After Value of Holding Declines

WALL STREET WEST - First Consulting Group Inc. has removed a persistent thorn in its side

ECONOWATCH L.A. COUNTY

Charts of Economic Indicators, Real Estate, Tourism...

January Cargo Tallies Set Records at Regional Ports

The ports of LA and Long Beach processed record amounts of container cargo during January, as retailers hustled to keep shelves stocked after a busier-than-expected 2nd half of 2003.

BANKRUPTCIES

Weekly List of recent L.A. bankruptcies

Stations Expected to Yield to Bottom Line Despite "Indecency"

Limits imposed by broadcasters to stem declining standards may give way to commercial realities.

Review & Preview

Review of this week's other top news; Preview of upcoming stories and events.

LABJ's LA Stories / The Roving Eye

Weekly Columns; More news and talk from around the town, behind the scenes.

CAA to Anchor New Century City Tower

Creative Artists Agency has signed a lease for 180,000 square feet at the proposed 2000 Avenue of the Stars project in Century City, according to a source familiar with the deal.

NEWSMAKERS

Businesspeople and businesses in the news, on the move...

Bond Measure Textbook Case

COMMENTARY by JOE MYSAK

State Case Against Markets May Hinge on Food 4 Less

The antitrust suit filed by Atty. General Bill Lockyer against three major supermarket companies may hinge on one chain that wasn't involved in the 4 1/2-month strike and lockout: Food 4 Less.

Battle Erupts Among Creditors Seeking Redress Over Adelphia

CORPORATE FOCUS - Who will ultimately control Adelphia Communications Corp., the cable operator in the middle of Chapter 11 bankruptcy proceedings?

Monday, March 1

Gains Seen by Largest Law Firms As Rainmakers, Work Shift East

Many of L.A.'s largest law firms posted substantial increases in revenues and the benchmark profits-per-partner measure in 2003, thanks in large part to work generated in New York.

Paley Estate Blames BofA in Trust Distribution Tiff

The estate of Jacob Paley, an early executive with 20th Century Fox, has sued Bank of America Corp., alleging that the bank mismanaged a $13.5 million trust and waited more than a year to distribute the assets to its executor.

Doctors Kicking Tires of Tenet Hospitals

Tenet Healthcare Corp. is receiving higher-than-expected interest in its Los Angeles-area hospitals up for sale, including a number of bids being prepared by doctors.

THE LIST - TITLE COMPANIES

The L.A. Business Journal's list of top 25 Title companies, ranked by total mortgages insured during 2003 in L.A. County. PLUS: Executive Summary, Pacesetter

LABJ FORUM - Cops and Robbers

The Business Journal asks: Do you think television stations should broadcast high-speed chases?

Disney's Anaheim Parks Pushing for Higher Numbers

Down the road from the drama playing out in Burbank, Walt Disney Co. is gearing up for a big year in Anaheim.

Eisner's Stewardship of Disney Facing First Major Test

Walt Disney Co.'s annual meeting, to be held Wednesday in Philadelphia, will be the scene of the first serious challenge to Chairman Michael Eisner in his two decades of stewardship.

CALENDAR

Calendar of L.A. business events, conventions, and announcements

LABJ's LA Stories / The Roving Eye

Weekly Columns; More news and talk from around the town, behind the scenes.

Widespread Pension Demands Compound Fiscal Crises

Despite strong investment returns from the stock market last year, Los Angeles city and county officials face millions of dollars of payouts to shore up pension funds, part of a growing crisis nationwide.

Hollywood & Highland Sale Price Cuts CRA Income

The pending sale of Hollywood & Highland, at the deeply discounted price of about $200 million, will lead to a 7 percent cut in the amount of money L.A.'s Community Redevelopment Agency uses to meet its Hollywood bond obligations.

BANKRUPTCIES

Weekly List of recent L.A. bankruptcies

Problems Frustrate Local Councils in Test of New Roles

More than two years after neighborhood councils first started forming in L.A., the experiment has bogged down amid bureaucratic and legal red tape, causing widespread frustration and a handful of resignations from the advisory bodies.

THE LABJ STOCK INDEX

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

Entravision, Univision, Molina Make Grade on Hispanic Index

Entravision, Univision, Molina Make Grade on Hispanic Index

ECONOWATCH L.A. COUNTY

Charts of Economic Indicators, Real Estate, Tourism...

Korean Bank Bucks Tradition; Layoffs Planned in Acquisition

CORPORATE FOCUS - How does a company get its stock price to jump through the roof?

Bay and Bard

Shakespeare fan Terry Tamminen doesn't fret his hour on stage in new role as Gov. Schwarzenegger's Environmental Protection Agency chief

Review & Preview

Review of this week's other top news; Preview of upcoming stories and events.