Stories for August 2006

Thursday, August 31

Northrop Loses Space Race

Northrop Grumman Corp. on Thursday surprisingly lost a $3.9 billion NASA contract to Lockheed Martin Corp., a defeat only mildly placated by winning a $95.8 million design contract for the U.S. Navy's DDG 1000 destroyer.

Bernanke Bullish on Productivity Gains

America's productivity probably will keep growing solidly for some time to come, an important force in bolstering living standards, Federal Reserve Chairman Ben Bernanke said Thursday.

Survey: L.A. Worker Confidence Rises

After an early summer dip, Los Angeles-area worker confidence rebounded in August as respondents to a new survey reported more satisfaction with their jobs and personal finances, and fewer saw layoffs at their workplaces.

Biz Briefs: News About L.A. Companies

Amgen Has Minor Setback in Battle With Roche; Peerless Systems Chief to Retire; Apparel Firms Report Tepid Sales; Image Entertainment Refinances

Markets Drift After Fed Chief Remarks

Wall Street ended an aimless session barely lower Thursday after investors shrugged off comments about productivity by Federal Reserve Chairman Ben Bernanke.

Consumer Spending Jumps in July

Consumers boosted their spending by the largest amount in six months and the back-to-school shopping season also got off to a strong start this summer, the Commerce Department reported Thursday.

Cable Measure Clears Legislature

A measure that would strip cities of the power to regulate cable franchises and allow phone companies to enter the cable market has cleared the state Legislature.

Wednesday, August 30

Stocks Advance on Economic News

Wall Street managed a modest advance in light pre-holiday trading Wednesday, boosted by a gross domestic product report that showed the economy expanding at a faster pace than previously thought.

Greenhouse Gas Pact Reached

Gov. Arnold Schwarzenegger and legislative leaders have reached agreement on a landmark bill to require industry to curb greenhouse gas emissions.

GDP Up 2.9% in Second Quarter

The economy grew at a faster clip in the second quarter and inflation was slower than originally reported, a government report said Wednesday, suggesting the Federal Reserve will keep interest rates steady.

Palladium Deal Falls Through

The owners of the Hollywood Palladium have ended negotiations to sell the landmark concert hall to Combined Properties Inc.

Oil Prices Drop to $69.35

Oil prices fell Wednesday after the U.S. government reported a rise in oil inventories, easing supply worries as the Thursday deadline neared for Iran to halt its nuclear program.

Biz Briefs: News About L.A. Companies

KB, Martha Stewart Announce Perris Project; Tetra Tech Wins $20 Million Cleanup Contract; Cherokee Arranges Dutch License for Camp Beverly Hills; PracticeXpert Forms Alliance

School Reform Bill Passes

Los Angeles Mayor Antonio Villaraigosa's bid to win more control over the Los Angeles Unified School District has cleared the Legislature over the objections of School District officials.

Tuesday, August 29

Biz Briefs: News About Area Companies

Maguire to Go Private?; HemaCare Completes Acquisition; Enova Now Listed on AMEX; DaVita Amends Agreement with Gambro; MTV Buys Remaining Shares of MTV Japan ...

Dow Closes Up 18, Nasdaq Up 12

Wall Street advanced for a second straight session Tuesday after minutes from the latest Federal Reserve meeting failed to produce any bombshells about the economy, and oil prices dropped below $70 per barrel.

Gas Drops Again, Some Places Below $3

The price of gas in Southern California continues to drop, and in some areas is even below $3 a gallon, according to the Energy Information Administration and the Automobile Association of America.

If You File Financials Late, Watch Out

Hedge funds looking to extract bigger returns from the companies they invest in have come up with a new game of hardball: Fail to file a quarterly report on time, and they'll try to make you pay off your debt immediately.

Oil Prices Fall Below $70 a Barrel

Oil prices fell sharply for the second straight day on Tuesday, dipping below $70 a barrel as Tropical Storm Ernesto veered away from the oil and gas region of the Gulf of Mexico.

Consumer Confidence Plunges in August

Worries about the job market caused consumers' confidence in the U.S. economy to tumble more than expected in August to its lowest level in nine months.

Headlines From Tuesday's Papers

Prudential Admits Improper Trading; New Goal for Cruise/Wagner's Pic Funds; Big Inventory of Unsold Homes; Assembly OKs Health Care Bill; Universal Backs Free Music Rival to iTunes ...

Monday, August 28

Tools Are the Trade For Hidden Sector

Nestled in the upscale canyon enclave of Agoura Hills, the folks at Caldera Medical Inc. are getting the word out about their new surgical kits for treating urinary incontinence.

Newsmakers

People making news in L.A. business.

L.A. Businesses Fearful of Terrorism

If money is the best measure, then Los Angeles businesses are starting to fear a possible terrorist attack like never before, shelling out for terrorism coverage in ever bigger numbers.

Companies Develop Wide Range of Medical Equipment

Los Angeles County is home to several hundred medical device makers. Here are some of the larger or more prominent manufacturers.

How Two Firms Tackled Scrutiny of Their Stock Options

At least one Los Angeles company appears to be bucking the trend by striving for more transparency in the backdating of stock options a scheme that has drawn the attention of regulators and a growing number of shareholder lawsuits, including one targeti

In the Mix

Invention leads to more invention, at least for Channel M.

Hot-to-Shop InternetBrands Making Cruise Reservations

InternetBrands.com is continuing on its spending spree as it seeks to establish itself as the Internet's go-to spot for big-ticket purchases.

Peltz Likely to Flex His Muscles On Board, Not Times Front Page

These days, investor Nelson Peltz makes headlines for two reasons. First, his proxy battle with H.J. Heinz Co. appears likely to give him at least two seats on the board. Second, a public filing has revealed that Peltz owns 2.85 million shares, or a 1.2 p

Regional Report

Regional news about L.A.-area companies.

Big Second Round

In boxing parlance, "The Contender" has slimmed down and found its proper weight class. And for ESPN, it's been a knockout this summer.

MRB Branches Out With Mall Comedy And Assaulted Tree

MRB Productions Inc., until now best known for creating slick promos and openers for the Super Bowl, ESPN's X Games and "Monday Night Football," is making the jump into mainstream fare by way of the local mall.

Headlines From Monday's Papers

Some Don't Know We're in a Housing Slump; Sides Square Off Over Title, Escrow Costs; No Fuming Over Fuel Change; Carson Council Headed For Split? ...

Senate Approves Mayor-Run School Plan

Los Angeles Mayor Antonio Villaraigosa's bid to win more control over the Los Angeles Unified School District cleared a major hurdle on Monday when the state Senate approved enabling legislation over the objections of School District officials.

Even Stars Are Employees

When Tom Cruise was fired last week by Paramount Pictures, it was a surprising reminder that superstars are like the rest of us at least in one way: they're just employees.

Port Shippers Rip State's Move to Limit Diesel Pollution

For cargo, cruise and other ships seeking to dock at the ports of Los Angeles or Long Beach, things will soon become more expensive.

Diamond Multimedia Moves Out of the Rough

Once left largely for dead, one-time computer chip powerhouse Diamond Multimedia may be turning things around.

Ready for Splitsville? Divorce Attorneys Update the Book

For attorneys Scott Weston and Robert Nachshin, there's no such thing as a last word on pre-nuptial agreements.

Plush Toys Designed With Venting Frustration in Mind

If Steve Levin and John Williamson have their way, road rage will become a thing of the past.

News of the Week

News about L.A.-area compnaies from last week.

State Policy Puts California Manufacturing at Disadvantage

There are few economic necessities upon which capitalist Adam Smith and communist Friedrich Engels would agree. However, one keystone maxim advanced by both was that industrial innovation manufacturing would always be the backbone to any growing econo

L.A. Companies Put the Brake on Expansion Plans

The slowing economy is starting to take its toll on the outlook of Los Angeles County business owners.

'Invincible' Tackles Top Spot

Invincible led the roster on summer's penultimate weekend, which was typically mundane as a whole yet four percent above the same frame a year ago. Summer 2006's tally stands at $3.6 billion, seven percent ahead of last year.

Find the Way on Beverly Hills' Rodeo Drive

The number of wide-eyed tourists wandering aimlessly in search of a Harry Winston Inc. store should drop markedly

Busting the Myths on Downtown L.A.'s Homeless Problems

Skid Row is news. Steve Lopez articles, ACLU lawsuits, street sweeps, loft developers, demonstrations, condo conversions, strategic plans, and downtown businesses have focused attention on this 50 square block area in downtown Los Angeles.

Hocus Focus

Gay Blackstone carries a name that has worked magic for more than 100 years. The widow of famed magician Harry Blackstone Jr. serves as president of the Academy of Magical Arts Inc.

Computer Analysis Helping Improve Life on the Links

Find yourself in the rough too often? Hunkered in bunkers?

CityView Moves In, Lennar Out at West L.A. Condo Project

Cityview and Second Street Ventures have struck a deal to develop an 84-unit condominium project in West Los Angeles after a prior agreement to develop the site did not go forward.

Dow Closes Up 68, Nasdaq Up 20

Wall Street rebounded Monday as energy prices fell on signs that Tropical Storm Ernesto won't hit the Gulf of Mexico and as investors grew optimistic about a series of major economic reports on tap this week.

Biz Briefs: News About Area Companies

Hilton to Sell the Drake; CSC Lands Maryland IT Contract; ESPN Inks New Home Depot Deal; KB Home Starts New Orleans Development.

L.A.'s Hidden Industry

Call it the best-kept business secret in Los Angeles.

Joined At the Hip

John Maatta spent his summer merging two television networks into one. The final product, the CW Television Network, will debut on September 20 with a signal reaching about 93 percent of U.S. television sets.

632 Suppliers Face Future Without C-17

John Byon has reason to be concerned that Boeing Co. has announced it has directed suppliers to stop work on the C-17 military cargo plane.

Chatsworth Becomes a Hub for the Sector

For a community better known for its horse-boarding farms, suburban subdivisions and fading aerospace industry, Chatsworth has a lot of technological innovation going on.

Late Dates

Working at Hollywood's Beauty Bar, Julia Lolita Martin was amazed at the number of women asking for more spa services.

Inglewood E.R. Unit Threatened

Executives and owners of the former Daniel Freeman Memorial Hospital are considering closing the emergency room and converting the hospital to non-acute care uses.

'24' Collects Big Emmy Wins

Kiefer Sutherland always comes through in the end on "24." After years of being snubbed, the actor and series were finally victorious at the Emmy Awards, too.

Friday, August 25

Oil, Gas Prices Rise on Storm Fears

A relatively weak storm hundreds of miles south of Puerto Rico captured the attention of energy traders Friday, sending oil and natural-gas prices higher on fears that it could strengthen and threaten Gulf of Mexico production by next week.

Gas Prices Down Once Again

Gasoline prices in most Southern California areas dropped by nearly a penny a day over the past week, and some individual stations in the Los Angeles Orange County area listed prices below $3 a gallon for the first time since June.

Dow Closes Down 20, Nasdaq Up 3

Wall Street ended a lackluster session mostly lower after a speech by Federal Reserve Chairman Ben Bernanke failed to give investors any hints about interest rate policy.

Headlines From Friday's Papers

KB Home Says SEC to Start Probe on Option Practices; Home Sales Plunge Statewide; AOL to Offer Movie Downloads From Four Studios; Firm Picked to Manage Project in Las Vegas.

Biz Briefs: News About Area Companies

PS Business Parks Appoints New Board Member; Rapiscan Opens Mississippi Plant; Optical Completes Acquisition of Taiwan-based Fiber-Optics Company.

Thursday, August 24

Biz Briefs: News About Area Companies

Fantasy Now a Reality; Southwest Buys Austin Utility Company; True Religion Appoints New Design Director.

Dow Closes Up 7, Nasdaq Up 2

Wall Street managed a razor-thin gain Thursday as investors sifted through data that pointed to stable interest rates but that also suggested the economy has moderated more than expected.

Backing Cruise Could Be Risky Business

More than $4 billion in new movie financing has poured into Hollywood from hedge funds and other institutions recently -- is Sumner Redstone's move a sign this will slow?

State Votes to Deregulate Landlines

In a move that could dramatically reshape how California businesses and residents obtain and pay for new phone services, the California Public Utilities Commission Thursday voted to deregulate most of the state's landline phone industry.

Former Commissioner Charged

Former Los Angeles City Commissioner Leland Wong, a key figure in the "pay-to-play" scandals that plagued the administration of former L.A. Mayor James Hahn, was indicted Wednesday on charges of bribery, conflict of interest, perjury and embezzlement.

Headlines From Thursday's Papers

Mission: Impossible?; Home Sales Drop 4.1% in July ; Home Mortgage Risks Moderate; Strikers Expected Back on the Los Angeles City Jobs Today; L.A. Auto Show Moving Up ...

Wednesday, August 23

Dow Ends Down 42, Nasdaq Down 15

Wall Street fell for a third straight session Wednesday as fresh signs of a housing slump triggered concerns that the economy is slowing too fast and could erode corporate profits.

Biz Briefs: News About Area Companies

ABC To Sell News Footage on iTunes; TV Guide Goes Mobile; OSI Subsidiary Gets Military Contract.

Viacom Ends Deal With Cruise

As a nearly untouchable star for most of his 25-year movie career, Tom Cruise isn't used to Hollywood studios showing him the door.

Existing Home Sales Drop in July

Sales of previously owned homes plunged in July to the lowest level in 2 1/2 years and the inventory of unsold homes climbed to a new record high.

Headlines From Wednesday's Papers

KB Home Reviews Stock Options Given to CEO; Affordable Homes Still Scarce Here; USC Seeks Sale of Hospital by Tenet; Plan Puts Marina in Fast Lane; Vitesse Shares Sink on Trustee Dispute Over Debt; Launch Is Delayed for Boeing's GPS Satellites.

TV On Wheels

DirecTV Group Inc. said Wednesday that it will begin offering a service that will transmit its satellite television channels to cars.

Tuesday, August 22

Firms Who Hire Illegal Immigrants Sued

Frustrated businesses took their fight against illegal immigration to court , filing the first in a series of lawsuits accusing competitors of hiring illegal workers.

Headlines From Tuesday's Papers

State 2nd in Housing Growth, Census Data Say; YouTube to Sell Advertisements In Video Format; Viacom Gives Paramount Reigns with MTV, Nickelodeon Divisions ...

Port Workers Strike in Support of EAA

In a show of union solidarity, members of the International Longshore and Warehouse Union at the Port of Los Angles joined the strike of the Los Angeles' Engineers and Architects Association and shut down the port for about four hours this morning.

Deals Raises State Minimum Wage

The state's minimum wage will rise to $8 an hour in 2008 after Democrats and Gov. Schwarzenegger reach a compromise over the issue.

Biz Briefs: News About Area Companies

Colony Capital Gets Involved in Mills Project; Public Storage Completes Acquisition, Names New Director; Live Nation Sells More Sports Divisions.

Oil Prices Hold Steady at $72 a Barrel

Oil prices held steady Tuesday after Iran's top nuclear negotiator said Tehran was ready for "serious negotiations" over its disputed nuclear program but left open the question of whether it would suspend uranium enrichment.

Union Members Picket City Buildings

Members of Los Angeles' Engineers and Architects Assn., angry at the city government's refusal to give them a higher wage increase, picketed city buildings today and urged other unions to honor their walkout.

Dow Closes Down 5, Nasdaq Up 2

A Federal Reserve official's warning about a possible resumption of interest rate hikes unnerved Wall Street, wiping out an early advance and leaving stocks narrowly higher by the close.

Monday, August 21

Container Tax Is Right Way to Pay For Port Upgrades

Tim Carmichael of the Coalition for Clean Air argues that placing a fee on containers is the right way to fund infrastructure upgrades at the region's ports.

Dow Ends Down 36, Nasdaq Down 16

Investors sold stocks moderately lower Monday, ending a five-day rally as rising oil prices and disappointing results from Lowes Cos. raised concerns about a slowdown in consumer spending.

Reality Bytes

M Theory, a subsidiary of reality-show pioneer Bunim Murray Productions, is a think tank striving to address questions of media's future.

'Snakes' All Hiss and No Bite

The title said it all, and the movie itself was an afterthought. Months of media and Internet coverage over the bluntly descriptive yet ridiculous name, Snakes on a Plane, turned out to be nothing but hype.

Wal-Mart Pressing to Open Rosemead Store Before Vote

Wal-Mart's first mammoth super center in the Los Angeles basin nears its opening in Rosemead amid, yes, more contention and controversy.

Talent Agencies Amping Up Digital Deals

Hollywood talent agencies are beginning to redefine themselves by creating digital media divisions.

Reinhold Industries Taking Another Shot at Finding a Buyer

Reinhold Industries, a maker of aviation components, has been trying to find a buyer for six months.

When It All Equals Out

Charles Crumpley says it is not more lucrative for real estate agents in higher-priced markets vs. lower-priced ones.

Regional Report

Regional news about L.A.-area companies.

Hi-Shear Stock Comes Back to Earth After Boost From CNBC

Jim Cramer of CNBC talked up Hi-Shear Technology Corp. and the company, which makes components for space satellites, went into orbit.

1st Century Bank Ready to Move to Next Stage of Growth

Now that startup 1st Century is profitable, its next challenge is finding a replacement for co-founder Richard Cupp, who wants to retire.

AOL Buys Userplane to Extend Its Hold Onto Chat World

Will Los Angeles software firm Userplane.com be able to make a clean landing on the Internet aircraft carrier better known as America Online Inc.?

Perfect Fit

Joshua Christopher gave up the legal life and has found success in apparel as his T-shirt brand, Boyfriend, is getting the celebrity treatment.

Offices Shutting Down as Home Sales Plunge

The slowdown in home sales is leading to consolidations and closures of sales offices throughout Los Angeles.

Biz Briefs: News About Area Companies

Cheesecake Receives Delisting Notice; IHOP Restructures Debt, Repurchases Stock; >MGM Offers 'Stargate' Shows on iTunes.

Two KVEA Emmys Driven by Mysteries And Marathon Man

The Academy of Television Arts and Sciences presented KVEA Channel 52 with top honors in the light news and sports series categories at its 58th annual awards ceremony.

Power Play

Chris Petrovic has gone from baseball to law to greeting cards. Now he's in charge of bringing Playboy into the digital age.

Cheesecake Factory Stock Sours Over Accounting Review

Wall Street reacted swiftly to Cheesecake Factory Inc.'s announcement of a possible earnings restatement last week, but at least one analyst is advising against putting too much stock in the negative headlines.

BP Disputes Claims It Manipulated Data

British oil company BP on Monday denied allegations it manipulated data from inspections of Alaska pipelines which were partially shut down earlier this month because of corrosion problems.

Koltun Takes Helm at MoFo as Olson Makes Tokyo Move

When Gregory Koltun joined Morrison & Foerster LLP as a fourth-year associate in 1991, he had no idea that he'd someday be running the place.

Newsmakers/Kudos

Newsmakers from around L.A.

Movie Sound System Firm DTS Expanding Into Digital Cinema

DTS Inc.'s deal with Avica Technologies accelerates its foray into post-production, distribution and exhibition technologies of digital cinema.

Stay Home? You First

Only 5 percent of senior executives say they telecommute frequently while 62 percent said they rarely or never telecommute.

Ms. Clean

Nicki Frank's Thoreau Services Inc. is making a niche for itself by specializing in sending cleaning crews to retail stores and restaurants.

L.A. Appeals

Explosive growth in the legal industry is making Los Angeles a hot expansion site for high-end national firms.

We Can Have Clean Air Without Punishing Consumers

Bob Scott of the Valley Industry & Commerce Association opposes a November ballot measure that would increase oil taxes.

OSI Capitalizing on Terror Concerns

The latest round of terrorist concerns has given another boost to OSI Systems Inc., which develops airport screening equipment.

Companies Betting Humans Want Best Stuff for Borzois

Executives at Isle of Dog Corp. and their marketing firm Kastner & Partners figure Los Angeles was the perfect place to kick off retail sales of their luxury canine products.

News of the Week

News about L.A.-area companies.

Ready Steady

Prefabricated houses, long popular in colder climates where building seasons are shorter, are making big inroads in Los Angeles.

FastSoft Blitzes Downloads With 101 Gigabits Per Second

FastSoft Inc., a startup venture that has redefined the concept of high-speed Internet with a system that is the world's fastest by at least one measure is moving to commercialize its services.

Gas Prices Down Again for L.A.

The average price for a self-serve gallon of gas in Southern California was down five cents for the week ending August 21.

Anschutz Sells Retail, Residential Property Near Staples

The Moinian Group has purchased a significant piece of downtown property near Staples Center from Anschutz Entertainment Group.

Shared Vision?

Entravision Communications Corp. is an example of the risk companies take when their fortunes are tied so closely to another in this case, Univision, which has just been sold.

Headlines From Monday's Papers

Alaska Oil Pinch Isn't Spiking State Gas Prices, Republicans Reject Bonds; Citadel Aims to Renegotiate Terms For Financing Disney Radio Deal; Me, MySpace and I.

The Onion Rings In L.A. Edition With Local Sections, Advertising

Recently the Onion famous for its stories about non-existent subjects peppered with made-up quotes from fictitious sources circulated an announcement that it would start a Los Angeles edition this month.

Youth Soccer Official Is Getting a Kick Out of Her Job

Susan Matloff, the Executive Director of Membership Development for the American Youth Soccer Organization.

Friday, August 18

Oil Prices Briefly Fall Below $70

Oil prices briefly dipped below $70 a barrel during trading Friday for the first time in almost two months after a wave of good news in the Middle East and from an Alaskan oil field.

Hollywood, the I.R.S. Is Watching

Hollywood celebrities who show up at awards ceremonies and leave with armloads of booty can expect one more item with their gift baskets: a tax form.

Biz Briefs: News About Area Companies

Woodside Applies for LNG Terminal Permit; J2 to Delay Earnings; Southwest Water Declares Dividend.

L.A. Job Market Still Going Strong

Los Angeles County's job market continued to show strength in July as the unemployment rate dropped to a seasonally adjusted 4.5 percent from 4.6 percent in June and 5 percent a year ago.

Boeing to Close Long Beach C-17 Plant

Boeing Co. said Friday that it will begin shutting down the Long Beach production facility for the C-17 cargo plane, the last aircraft manufacturing plant in Southern California, because Congress will not provide funding for new aircraft.

Dow Closes Up 47 on Investor Optimism

Investors eked out Wall Street's fifth-straight day of gains, bucking concerns about lagging consumer sentiment and disappointing second-quarter results from Dell Inc.

Headlines From Friday's Papers

Picture This: Warner Bros. Having a Rare Down Year; Buying First Home a Challenge; Corporate Tax Law Upheld.

Gas Prices Unchanged Form Last Week

Gasoline prices in most Southern California areas changed very little over the past week, with some areas seeing slight declines and others having slight increases, according to the Automobile Club of Southern California's Weekend Gas Watch.

Thursday, August 17

Biz Briefs: News About Area Companies

Lockheed Buys So. Cal. Firm; Younan Buys 2nd Dallas Property; New Image Deal to Pay Off Big; Crofton Appointed as Presidentof Disney World;

Tussauds Coming to Hollywood

Madame Tussaud's, the famed London wax museum, which is home to likenesses of hundreds of Hollywood's most famous stars, is preparing for its own Tinseltown debut.

Headlines From Thursday's Papers

State Farm Abandons ZIP Code Rates Plan; Is State Losing Competitive Edge?; State's Oil Refiners Expect No Cutbacks; Los Angeles Residents to See Hike in Electric Rates; Big Names in Finance Seek Repeal of Option-Cost Rule ...

Hiring Picks Up in July

Los Angeles-area job seekers found a more receptive market in July as employers picked up the pace of hiring, according to a survey released Thursday by the online employment site Monster.com.

State's Oil Refiners Expect No Cutbacks

California refiners have lined up replacement crude oil and don't expect any cutbacks in gasoline production in the wake of last week's closure of a key Alaskan oil field, state and industry officials said Wednesday.

Stocks Finish up for Third Straight Day

A sharp drop in oil prices helped Wall Street extend its rally for a third straight session Thursday, with strong earnings from Hewlett-Packard Co. also giving stocks a modest lift.

Wednesday, August 16

Cheesecake Factory To Restate Earnings

Cheesecake Factory Inc. expects to restate past earnings, based on preliminary findings of an internal probe into past stock options practices, the company said in an SEC filing on Tuesday.

Headlines From Wednesday's Papers

Home Sales Tumble to 9-Year Low; Report Says Port Nuclear Attack Would Squeeze Economy Worldwide; Judge OKs 1,100-Home Development in Santa Clarita ...

Prudhoe Shut Down After Mishaps

BP PLC planned to inspect a major pipeline in Prudhoe Bay after two mishaps forced the line to be shut down - another setback for the operator of the crippled oil field.

Port of L.A. Has Record Month

The Port of Los Angeles saw its busiest month on record in July, handling more than 400,000 containers for the first time in its history.

Update: Boeing Sets C-17 Deadline

Boeing Aircraft Co. has set a Friday deadline for commitments from the Defense Department for additional C-17s or it will begin informing distributors that the Long Beach facility that manufactures it will be closing, according to a news report.

Dow Ends Up 97 on Tame Inflation Data

Wall Street emerged from the summer doldrums as a second straight day of tame inflation data sent stocks sharply higher and pushed the Dow Jones industrials to its highest level in three months.

Biz Briefs: News About Area Companies

Radio Disney Now on iTunes; Former Univision Executive Is Named Executive Director of SEC; 99 Cents Only Hit Again.

Tuesday, August 15

Dow Up 132 on Wholesale Price News

An unexpected drop in wholesale prices sent stocks soaring, with the Dow Jones industrials climbing more than 130 points.

L.A. Regains Gas-Price Title

Los Angeles has regained the dubious distinction of having the highest average gas price in the nation, according to the Energy Information Association.

Headlines From Tuesday's Papers

Montecito Films Raises $200 Million; Time Running Out For Hybrid Perks; Wind Farms Swirling New Power; Spending by HMOs Is Ranked; Ford to Scale Back Dealership Network.

Biz Briefs: News About Area Companies

Jacobs Lands More Contracts; Radioactive Material in San Onofre Groundwater; Billionaire Acquires Stake in Tribune Co.; Arden Group Declares Dividend.

Inflation Inches Up on Wholesale Level

Inflation at the wholesale level edged up by the smallest amount in five months in July as falling food prices helped offset another rise in energy costs.

Home Sales Slow, 28 States See Declines

The slowdown in the once-sizzling housing market is spreading, with 28 states and the District of Columbia reporting spring sales declines, led by big drops in former boom areas of Arizona, Florida and California.

Judge Approves Santa Clarita Project

More than two months after taking the case under submission, a judge has approved a large housing development in Santa Clarita that was challenged by the Sierra Club and other environmental groups.

Monday, August 14

Warner Bros. Uses Classic 'Toons to Bring Kids Online

Warner Bros. Online is launching a new version of Web property Scooby-Doo.com, along with Looney Tunes and Hanna-Barbera sites.

Literacy Is Key Component in Building L.A.'s Workforce

Barbara Lewis laments L.A.'s low literacy rate, and she discusses the importance of childhood reading to the future economy.

Lawyer Raises Funds for Cancer Research in Duke's Honor

Attorney Michael I. Wayne of Gibbs Giden spends his days litigating construction and commercial cases and his nights raising money for cancer research.

Entrepreneur Cashes In With Novel Take on 'Fan Fiction'

For eight weeks, authors and editors from the HarperCollins stable will work with writers of "fan fiction" to produce an e-book the company intends to sell on its Web site.

Headlines From Monday's Papers

News Corp. to Sell Fox Movies Online; Hostile Climate Greets Governor's Plan to Save Earth; Up next: `YouTube' of video games? ...

Edison Sweating Vulnerable Grid, Overheated Bills

Edison International faces challenges on multiple fronts: aging infrastructure, consumer anger over rate hikes and limits on greenhouse gas emissions.

United Online to Fill AOL Void

As AOL retrenched, United Online designed and produced TV ads that targeted their customers.

Writers' Rights

Attorney Alan U. Schwartz has represented Mel Brooks and Truman Capote, among other writers.

Trash Companies' Odors Have AQMD's Nose Out of Joint

After years of complaints from nearby residents about odors from recycling and waste transfer facilities, the South Coast Air Quality Management District is cracking down on trash companies.

True Religion Shows Faith in Bargains With Outlet Store

True Religion Apparel Inc., a company that's made a fortune on customers' willingness to pay $200 for jeans that cost about $30 to make, will launch its first outlet store.

Executive Expands HIV Support Beyond U.S. Borders

Mattel Inc. executive Joe Cristina has devoted more than a decade to providing support to children affected by HIV or AIDS.

Regional Report

Regional news about L.A.-area business.

Employers Wage War Against Minimum Indexing

Employers are bracing for an increase in minimum wage. Impacts could include slower hiring and demand for higher pay in all lower-wage jobs.

Cigarette Break

Charles Crumpley isn't a smoker, but wonders about L.A.'s restrictions on those who want to light up.

Property Plugging

Sean Whitely and his partners think that infomercial kings Bill Guthy and Greg Renker can work the same magic for RealtyTracker as they've done for Proactive Solution and Winsor Pilates.

Idol Chatter

TMZ stepped into the spotlight for breaking the details of Mel Gibson's drunk driving arrest.

HealthSouth to Sell Outpatient Clinics

HealthSouth Corp. announced a restructuring on Monday in which it will sell its outpatient surgery centers, rehabilitation clinics and a diagnostic division to focus on its inpatient intensive care business.

High Eco-uture

So-called ecofashion, including high-end garments made from recycled materials, has become a trend.

Imagine That Billboards Return For Lions Gate's Lennon Biopic

To promote a new John Lennon biopic, Lions Gate Entertainment Corp. has rented two billboards that will reproduce the famous "War Is Over! If You Want It" ads .

Newsmakers/Kudos

News about area executives.

Gas Prices Drop, Again

For the fourth consecutive week, gasoline prices in most areas moved lower despite Alaska pipeline problems and continued war in the Middle East.

Hansen Stock Plummets as Sales Growth Continues

Hansen Natural Corp. is getting a taste of how brutal life on Wall Street can be: Its stock fell even as sales continue to soar.

Dow Ends Up 10 As Rally Fizzles

Wall Street's attempt at a rally fizzled, with the major indexes rising in response to a Middle East cease-fire and then giving up most of their gains later in the day.

Blackjack Tour Says Game Show Network Is Stacking the Deck

Gamblers know that marked cards, false shuffles or cards counting will get you thrown out of most any Las Vegas casino.

Standing Out

Tyloon Inc. offers multilingual help for clients who want to pop up on the screens of potential customers using Internet search engines.

Abraxis Waiting for Cancer Treatment to Cure Its Wall Street Woes

Abraxis BioScience Inc. hasn't been kind to investors since a merger was announced in November, but the company is looking ahead to an anti-cancer treatment based on a nano-sized protein particle.

Countrywide Hoping Woes Are Temporary

Countrywide Financial Corp. took a beating last week on Wall Street, but some investors believe a downturn is short-lived.

News of the Week

News of the week about L.A.-area companies.

Responding to Global Warming Means More Than Being Nice

Lorenzo Campus believes that restricting greenhouse gas emissions is of primary importance.

Prudential Buys Overton Portfolio in $170 Million Deal

erton Moore Properties has sold its 1.7 million-square-foot Class A industrial portfolio to Prudential Insurance Company of America in a deal valued at nearly $170 million

Ricky Bobby Gets Checkered Flag

Young girls again showed their buying power at the North American boxoffice during the weekend, surprising the industry with the $21.1 million opening of Buena Vista Pictures' dance movie "Step Up."

The Tide's About to Turn for Video Game Publisher THQ

At first glance, this hasn't been a great few months for Agoura Hills video game publisher THQ Inc.

Fancy Footwork

The spate of reality dance shows has led to increased interest in L.A. studios that offer ballroom and tango lessons.

Biz Briefs: News About Area Companies

Direct TV Offers Interactive Tennis Coverage; Buena Vista to Re-Organize; Alexandria Hotel to Become Affordable Housing; Tag-It Post Profit; Molina Names President of California Unit ...

Newcomer Time Warner Hopes Triple Play Will Slow DirecTV

Selling a bundled package of cable service, telephone and high-speed Internet access is the strategic key to making Time Warner's $17 billion purchase of Adelphia pay off.

BP Keeps Part of Pipeline Open

A week after BP PLC's announcement that it was shutting down Prudhoe Bay sent ripples through world oil markets, the decision to continue to partially operate the giant oil field in Alaska has taken the worst-case scenario for oil prices off the table.

Friday, August 11

Retail Sales Climb 1.4 Percent in July

Shoppers got back in the buying mood in July, propelling sales at the nation's retailers up by 1.4 percent, the most in six months.

Long Lines, But LAX Flights On Time

Thousands of travelers are struggling to find their way in a new world of security at Los Angeles International Airport -- one in which their toothpaste and bottled water had become potential threats overnight.

Headlines From Friday's Papers

Garamendi Wins Auto Rate Case; Will terror take toll on 'Trade'?; Glaxo to Settle Drug Overcharging Claims for $70 Million; Furutani Gets Appointment to L.A. Planning Commission ...

Dow Ends Down 36, Nasdaq Down 14

Stocks dropped in light summer trading Friday after Apple Computer Inc. said its mishandling of employee stock options will require significant revisions to its most recent quarterly results.

Biz Briefs: News About Area Companies

Big 5 Has Strong 2Q; Tetra Tech Reviewing Options; Chad Therapeutic Post Bigger Loss, Lower Sales.

Thursday, August 10

Travel Slow, But Steady at L.A. Airports

Business travelers going to LAX and other Southern California airports were bracing themselves for long delays Thursday following the arrests of 20 suspected terrorists in Britain accused of plotting to blow up trans-Atlantic jetliners.

UPDATE: Chamber Endorses School Plan

The Los Angeles Area Chamber of Commerce on Thursday endorsed L.A. Mayor Antonio Villaraigosa's plan to assume more control over the Los Angeles Unified School District.

Oil Prices Drop Almost $2 a Barrel

Crude oil prices fell nearly $2 a barrel Thursday as thwarted airplane attacks led many carriers to cancel flights, which could mean dampened jet fuel demand and weaker consumer confidence.

U.S. Trade Deficit Narrows Slightly

America's trade deficit improved slightly in June as record sales of U.S. farm products and other exports blunted the impact of soaring crude oil prices.

Headlines From Thursday's Papers

Long Lines As Airports Tighten Security; 2 Key Firms' Results Raise Housing Fears; Judge's Tentative Decision Deals Blow to Car Insurers; Viacom to Buy Online Media Firm ...

3Q Hiring Might Slide, Survey Says

Employers in California will likely do slightly less hiring during the third quarter than they have been, according to a quarterly report released Wednesday.

Dow Closes Up 48, Nasdaq Up 11

Wall Street withstood the news of a terror plot targeting commercial airlines Thursday, with stocks moving higher on strong corporate earnings reports and a sharp drop in oil prices.

Biz Briefs: News About Area Companies

Lion's Gate Cuts Losses; Supervalu Investment; Impco Sales up, Revenue Flat; Electro Rent Posts Docile Annual Earning; ESPN on ABC; Reinhold Sales Jump, Profits Shrink.

Wednesday, August 9

Disney Posts Profit, Beats Estimates

Walt Disney Co. reported strong third quarter earnings and saw profit in all four divisions, beating Wall Street estimates.

EA to Create Original Game Characters

Electronic Arts may be backing off of the video game strategy it pioneered: using high-profile movie licenses as the marketing hook for its video games, and may go with creating its own characters.

Wachovia Announces Merger Details

Wachovia Corp., the nation's fourth-largest bank, said Wednesday that it would extend $150 billion in loan commitments to Californians over the next 10 years as part of its purchase of Golden West Financial Corp. of Oakland.

Hilton to Sell 140 European Hotels

Hilton Hotels Corp. may unload its Scandic lodging group as well as 10 separate European hotels.

Dow Ends Down 64, Nasdaq Down 1

Investors concerned over erratic oil prices and a slowing economy sent stocks lower despite strong earnings from Cisco Systems Inc. and the Federal Reserve's pause in raising interest rates.

Biz Briefs: News About Area Companies

Amgen Foreign Offices Raided in Investigation; Federated 2Q Earnings Up, Lifts Forecast; St. Louis Bank Acquires First Bank of Beverly Hills; Grocer Arden Group Cashes in on High-End Demand ...

Headlines From Wednesday's Papers

Will Pixar Be Pulled Into Stock Storm?; Firms to Challenge Disney in Family Movies; Hits Send Studio Into Stratosphere; Sempra Ordered to Turn Over Tapes; Pumped Early For Initiative ...

Alaska Gov. Institutes Hiring Freeze

Gov. Frank Murkowski instituted a state hiring freeze because of the millions of dollars Alaska is losing in tax revenue and royalties due to the Prudhoe Bay oil field shutdown.

Tuesday, August 8

USC's Palmrose Named to SEC Post

The U.S. Securities and Exchange Commission said it has named University of Southern California's Zoe-Vonna Palmrose Deputy Chief Accountant for Professional Practice.

Dow Ends Down 46, Nasdaq Down 12

The Federal Reserve's long-awaited pause in interest rate hikes sent stocks modestly lower as Wall Street welcomed the move but worried that more increases might be ahead.

Napster Stock Up on Acquisition Talk

Shares of Napster Inc. gained after cell phone maker Nokia Corp. announced it acquired digital music distributor Loudeye Corp., driving speculation that Napster may be the subject of a similar acquisition.

Headlines From Tuesday's Papers

State Gas Prices Expected to Rise 10 to 20 Cents; Home Building Slams on the Brakes; THQ Gets SEC Stock-Option Request; Loss of In-N-Out Founder Won't Change Menu Plan; Clippers Owner Sued for Discrimination ...

Biz Briefs: News About Area Companies

Korn/Ferry Buys Lominger Limited; Direct TV Triples Profit; Hansen's Profits Soars, Stock Plummets; Edison Posts Loss on Increased Revenue; Jacobs Engineering Lands Four More Contracts ...

NPR To Be Seen And Not Just Heard

According to National Public Radio, the non-profit producer and distributor of radio programming is looking to hire a video editor possibly by the end of the year.

Fed Leaves Interest Rate Unchanged

With the economy losing momentum, the Federal Reserve halted the longest unbroken stretch of interest rate increases in recent history.

Stocks Higher Ahead of Fed Rate Decision

Investors bid stocks modestly higher Tuesday on expectations that the Federal Reserve will not raise rates after 17 straight quarter-percentage point hikes over the last two years.

Monday, August 7

Garage Band

Garage Envy Inc., which organizes garages, wants to make a niche in "the last bastion of home improvement."

Conference Center At LAX Won't Fly Without Additions

Additional facilities would have to be in place before a conference center near LAX would be feasible.

Pricey L.A. Housing Crimps Recruitment

High housing prices are making it hard for some L.A. business to recruit execs.

Buyers Biding Time as Home Sales Plummet

Los Angeles County's once soaring housing market continued its slide in July with volume plunging and the median price dipping back to May's level.

That Was Then, This Is Now

Paul Tepper of Weingart Development Corp. believes that economic conditions make life in contemporary Los Angeles tougher than it was a generation ago.

Board of Supervisors Joining The Video-On-Demand Crowd

Television's video-on-demand services, in which viewers are charged for specific programs they choose to view, are for the most part dominated by ultimate fighting bouts and movies such as "Bikini Chain Gangs."

Bogus Blenders

Alchemy Worldwide has spent more than $2 million fighting knockoffs and counterfeits of its Magic Bullet Blenders.

Big Infill Development Site Comes on Market in Compton

One of the largest sites available for infill development in the greater Los Angeles area has hit the market.

Vernon Company Sending Jobs to Tenn.

MasterFoods USA, a subsidiary of food and confection maker Mars Inc., is relocating most of its Vernon offices to Nashville.

Chicago Tops L.A. in Average Gas Price

Los Angeles has been passed by the city of Chicago for the most expensive gas in the nation, a dubious honor the L.A.-area has held firmly for several months.

Butting Out

A number of high-end, L.A.-based lines will soon be featuring a higher-rise on their top-of-the line jeans.

County's Smaller Cities Called Most Business-Friendly

Burbank, Lancaster and three others made the list of the L.A. Economic Development Corp.'s most business-friendly cities.

Biz Briefs: News About Area Companies

Occidental Buys Oil Company, Look into Kazakhstan; Mercury Profit Drops; California Pizza Kitchen Profit Off; Salem Profit, Revenue Jumps; En-Point Has Solid 3Q ...

Headlines From Monday's Papers

L.A. Building Panel Votes Draw Scrutiny; Tower's Music Clout Has Gone Flat; More Than Ever, Hollywood Studios Are Relying on the Foreign Box Office; Employees Get Help With Cost of Gas Prices ...

Parsing Product Placement

NextMedium Inc. has developed a means of measuring the effectiveness of product placement and an online marketplace for it.

Bandleader's Ex-Wife Keeps Beat ... and Half the Estate

Never mind beginning the beguine, Evelyn Keyes is ready for Artie Shaw's estate to begin making payments.

Running the Inside Track

Charles Crumpley on the importance of experience in the business world.

Can the European Workplace Model Work in the U.S.?

Melding American and European benefit packages and workplace cultures is an increasingly common challenge.

Regional Report

Regional news about L.A. County companies.

The Time Grind

Today's workplace presents conundrums for employees and employers pursuing life balance while remaining productive.

Saban Endures Grilling by Senate For Acceptance of Bogus Tax Shelter

When Haim Saban was grilled by a Senate committee about offshore accounts, he said he relied on an adviser.

Medicine Man

Jacob Terner is trying to make a Culver City hospital more efficient.

Dow Ends Down 21, Nasdaq Down 13

Near-record oil prices Monday in the wake of an Alaskan oilfield shutdown prompted investors to sell stocks on inflation fears, one day before the Federal Reserve's next decision on interest rates.

Medical Properties Trust Invests in Local Hospital Group

Medical Properties Trust Inc. deepens its stake in Los Angeles by investing in a second local acute care hospital group.

National Public Radio Is Ready to Be Seen And Not Just Heard

'I saw it on the radio" was the catch phrase in a classic radio industry ad campaign.

Newsmakers/Kudos

Newsmakers from around L.A. County.

Thanks to Flourishing Market Forces, Angelenos Can Enjoy More for Less

Ted Balaker of Reason Foundation argues that apart from traffic, life in L.A. is easier than it was in the past.

Krispy Kreme Settles Case With Great Circle Franchisee

Krispy Kreme Doughnuts Inc. and its biggest franchisee, Los Angeles-based Great Circle Family Foods LLC, settled a dispute last week.

Online Veteran Launches Site To Help Patients Find Doctors

DoctorsDirect.com links patients with doctors and allows appointments to be instantly scheduled.

Orient Expressly

David Lee, the largest landlord in Los Angeles County, has become the biggest owner of the new Premier Business Bank.

Old School Rules

Such employers as hospitals and law firms can place significant demands on their employees' time.

Print's Charming

Adstar Inc. has made a deal that will help bring online advertising into newspaper classified pages.

BP: Pipeline May be Closed for Months

BP PLC said it will replace 73 percent of the pipelines from the nation's largest oil field and that production could be closed for weeks or months.

Digital Marketing Firm Revving Up Search Engine Unit

Carat Fusion, an agency known for its high-end clients, is revving its search engine efforts in Los Angeles.

FCC Throws Flag at Time Warner

The FCC ordered Time Warner Inc. to return the NFL Network to its cable systems in Southern California.

Mergers, Flat Subscriptions Sock Digital Insight's Stock

Digital Insight Corp. (Nasdaq:DGIN)

One Site Sells Sex and the Other Protects Minors From It

Two L.A. Web sites, BeNetSafe.com and Utherverse.com, aim to address the question of sex on the Internet.

Google Joins Viacom in Video Ads

Google has struck a deal to allow Web site owners to put video clips from Viacom on their pages.

Video Gamers' Toned-Down E3 Is Blow to L.A. Tourism

Tourism officials tried to put a positive spin on the downsizing of the massive E3 video game exhibition.

Personnel Experts See An Evolving Market

Personnel experts discuss the latest trends in human resource management.

Friday, August 4

Tepid Job Data Gives Fed Time to Pause

U.S. payrolls posted their fourth-straight tepid gain last month and the jobless rate spiked higher, likely giving Federal Reserve officials all the evidence they need to pause their two-year tightening campaign.

Headlines From Friday's Papers

Getty Board Chairman Biggs Steps Down; Perata Floats Minimum Wage Plan; Political Insiders Get Special Treatment From L.A.; Out With a Bang in San Pedro; Firm for Lobbyists Wrote L.A. Term Limits Measure ...

Next Frontier for Spammers: Texting

Nearly 10 billion text messages are sent by U.S. cell phone users every month. If you don't think that's caught the attention of spammers, think again.

Biz Briefs: News About Area Companies

Allen Selling Out at Dream Works?; LAUSD Sells $400 million in Bonds for Schools; Health Care Properties' Rating Drops; Abraxis Reports Loss, Increased Sales ...

Dow Closes Down 2, Nasdaq Down 7

Wall Street got what it wanted Friday - Labor Department data showing slower job growth - but cautious investors pushed stocks modestly lower, unwilling to trust that the report was enough to keep the Federal Reserve from raising interest rates next week.

Gas Prices Down for Third Week

Gas supplies have remained steady and fears of supply interruptions have eased, causing gasoline prices to drop for the third week in a row, the Automobile Club of Southern California said.

Business-Friendly Cities Lauded

In a bid to get cities to be more responsive to business, the Los Angeles County Economic Development Corp. has nominated five cities for a first-ever award as the most business friendly city in the county.

Seizures Cut Occidental's 2Q Profits

Despite record oil prices, Occidental Petroleum Corp.'s earnings declined in the second quarter due to the seizure of assets by the country of Ecuador earlier this year.

Dream Works Pulls Profit

Bolstered by strong box office and DVD sales, Dream Works Animation SKG Inc. gets back in the black.

Mayor Signs Term Limits Bill

Los Angeles Mayor Antonio Villaraigosa on Friday signed a measure officially placing a term limit extension for City Council members on the November ballot.

Thursday, August 3

State Wins Decision on Power Profits

California, still seeking to recover money spent on electricity during the energy crisis, won a split court decision Wednesday that puts another $900 million worth of potential refunds on the table.

Earnings Roundup

Earnings Roundup for: Univision; Activision; Saehan ; Superior; Macerich; Six Flags; Napster; Guess?; Tetra Tech and Diodes Inc.

Biz Briefs: News About Area Companies

Amgen Gets mixed Results on Court Patent Ruling; Workers Suspended for Union Support; Cheesecake Factory Next on SEC's Options List; National Technical Acquires Dynamic Labs

Retail Forecast Up, But Uncertain

Retailers got a reprieve in July, scoring solid sales gains as searing heat in much of the country sent consumers back into the stores in search of summer clothes

Tribune and Chandlers Return To Talks

Putting aside the public rancor of the past few months, Tribune Co. management and the Chandler family have returned to the bargaining table.

Dow Closes Up 43, Nasdaq Up 14

Mild economic data and strong retail sales lifted stocks Thursday and helped investors overcome concerns about the Federal Reserve's expected decision on interest rate hikes next week.

Headlines From Thursday's Papers

Oil Companies Eye California's Offshore Leases; Mortgage Default Notices Soar 67%; City Workers Union Threatens 2-Day Strike; Attorney General Backs Wal-Mart Opponents ...

Wednesday, August 2

Dow Closes Up 74, Nasdaq Up 17

Investors put their interest rate worries on hold and sent stocks higher Wednesday after strong earnings reports from Time Warner Inc. and Procter & Gamble Co. restored some of the market's flagging confidence.

Hilton Profit Down, Revenue Up

Hilton Hotels Corp. reported second-quarter net income of $144 million, (35 cents per share), down 29 percent from $202 million (49 cents per share), for the same period a year earlier.

City Council Votes To Extend Term Limits

The Los Angeles City Council on Wednesday took a major step towards placing a measure to extend term limits and enact ethics reforms on the citywide ballot this fall.

Keystone's Sales, Profits Up

Keystone Automotive Industries Inc. continued its comeback with increased sales and profits for its first quarter of the year.

Headlines From Wednesday's Papers

Electronic Arts Posts Wider 1Q Net Loss; High Anticipation for High-Flying X Games; Time Warner Expands its Share; Tip Earners Protest Proposed Wage Plan; Local Mall Gains Macy's ...

Biz Briefs: News About Area Companies

Bd Systems Acquired by SAIC; Abraxis Gets New CFO; Northrop Gets New Laser Facility; Web Site Operator Hit With Fraud Charges

Earnings Roundup

WPT, Sports Chalet, Cogent, DaVita, Iris and Herbalife earnings roundup.

Villaraigosa Names Trade Office Official

Los Angeles Mayor Antonio Villaraigosa on Wednesday announced he had tapped a Clinton administration State Department official to head an expanded international trade office.

Toyota, Honda Report Sales Jump in July

Amid steep gas prices, Toyota Motor Corp. rode its reputation for fuel-efficient cars to a double-digit sales increase and outsold Ford in the U.S. for the first time.

Merck Wins L.A. Vioxx Case

A Los Angeles jury gave Merck & Co. Inc. a court victory Wednesday when it found the pain medicine Vioxx did not cause the heart attack of a 71-year-old retired construction manager.

Noted Economist Leaves to Start Firm

Chris Thornberg, a noted economist with the UCLA Anderson Forecast, has decided to leave the school and start his own firm.

Montage Hotel To Be Built

The California Supreme Court will not hear opponents' case against a Beverly Hills luxury hotel.

Tuesday, August 1

Officials React to E3 Departure

L.A. convention officials try to put positive spin on the news that the massive E3 video game industry convention is downsizing and leaving the Convention Center for smaller, local venues.

Headlines From Tuesday's Papers

Australian C-17 Deal Finalized; Saban Had Offshore Tax Haven, Panel Says; Heat Wave Belted State Farms; ABC Pulls Plug On Gibson Project About Holocaust; Live Nation to Raise Stake in Musictoday ...

Biz Briefs: News About Area Companies

Saban Admits Tax Shelter; Teledyne Acquires Florida-Based Tech Company; CSC Wins Army IT Contract; j2 Global, IndyMac, Zenith Insurance, Guitar Centers and PS Business Parks earnings.

L.A. Healthcare Earnings Roundup

Earnings for Molina Healthcare; Staar Surgical and Health Care Property Investors.

Cartoon Network, CNN Shows on iTunes

Programming from Cartoon Network programs will now join TV shows from E! Entertainment Networks and Warner Bros. on Apple's iTunes Music Store, Turner Broadcasting Systems said.

Dow Ends Down 60, Nasdaq Down 29

Heightened fears of inflation sent stocks sliding for a second straight session as a key price index climbed to an 11-year high and an improving manufacturing sector raised the likelihood of another interest rate hike by the Federal Reserve.

First Quarter is Soft for CSC

Computer Sciences Corp. reported a first quarter loss of $55.3 million (-29 cents per share), compared to $131.6 million (71 cents), from the same period a year earlier.

WPT Inks Mobile Gaming Deal

WPT Enterprises Inc. has licensed the World Poker Tour brand to 3G-Scene Limited, and also has purchased a stake in the U.K. mobile gambling service provider, the Los Angeles company announced Tuesday.