Stories for August 2006
Thursday, August 31
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.
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.
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.
Amgen Has Minor Setback in Battle With Roche; Peerless Systems Chief to Retire; Apparel Firms Report Tepid Sales; Image Entertainment Refinances
Wall Street ended an aimless session barely lower Thursday after investors shrugged off comments about productivity by Federal Reserve Chairman Ben Bernanke.
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.
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
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.
Gov. Arnold Schwarzenegger and legislative leaders have reached agreement on a landmark bill to require industry to curb greenhouse gas emissions.
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.
The owners of the Hollywood Palladium have ended negotiations to sell the landmark concert hall to Combined Properties Inc.
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.
KB, Martha Stewart Announce Perris Project; Tetra Tech Wins $20 Million Cleanup Contract; Cherokee Arranges Dutch License for Camp Beverly Hills; PracticeXpert Forms Alliance
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
Maguire to Go Private?; HemaCare Completes Acquisition; Enova Now Listed on AMEX; DaVita Amends Agreement with Gambro; MTV Buys Remaining Shares of MTV Japan ...
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.
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.
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 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.
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.
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
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.
People making news in L.A. business.
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.
Los Angeles County is home to several hundred medical device makers. Here are some of the larger or more prominent manufacturers.
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
Invention leads to more invention, at least for Channel M.
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.
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
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 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.
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? ...
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.
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.
For cargo, cruise and other ships seeking to dock at the ports of Los Angeles or Long Beach, things will soon become more expensive.
Once left largely for dead, one-time computer chip powerhouse Diamond Multimedia may be turning things around.
For attorneys Scott Weston and Robert Nachshin, there's no such thing as a last word on pre-nuptial agreements.
If Steve Levin and John Williamson have their way, road rage will become a thing of the past.
News about L.A.-area compnaies from last week.
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
The slowing economy is starting to take its toll on the outlook of Los Angeles County business owners.
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.
The number of wide-eyed tourists wandering aimlessly in search of a Harry Winston Inc. store should drop markedly
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.
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.
Find yourself in the rough too often? Hunkered in bunkers?
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.
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.
Hilton to Sell the Drake; CSC Lands Maryland IT Contract; ESPN Inks New Home Depot Deal; KB Home Starts New Orleans Development.
Call it the best-kept business secret in Los Angeles.
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.
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.
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.
Working at Hollywood's Beauty Bar, Julia Lolita Martin was amazed at the number of women asking for more spa services.
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.
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
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.
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.
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.
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.
PS Business Parks Appoints New Board Member; Rapiscan Opens Mississippi Plant; Optical Completes Acquisition of Taiwan-based Fiber-Optics Company.
Thursday, August 24
Fantasy Now a Reality; Southwest Buys Austin Utility Company; True Religion Appoints New Design Director.
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.
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?
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 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.
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
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.
ABC To Sell News Footage on iTunes; TV Guide Goes Mobile; OSI Subsidiary Gets Military Contract.
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.
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.
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.
DirecTV Group Inc. said Wednesday that it will begin offering a service that will transmit its satellite television channels to cars.
Tuesday, August 22
Frustrated businesses took their fight against illegal immigration to court , filing the first in a series of lawsuits accusing competitors of hiring illegal workers.
State 2nd in Housing Growth, Census Data Say; YouTube to Sell Advertisements In Video Format; Viacom Gives Paramount Reigns with MTV, Nickelodeon Divisions ...
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.
The state's minimum wage will rise to $8 an hour in 2008 after Democrats and Gov. Schwarzenegger reach a compromise over the issue.
Colony Capital Gets Involved in Mills Project; Public Storage Completes Acquisition, Names New Director; Live Nation Sells More Sports Divisions.
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.
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.
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
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.
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.
M Theory, a subsidiary of reality-show pioneer Bunim Murray Productions, is a think tank striving to address questions of media's future.
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's first mammoth super center in the Los Angeles basin nears its opening in Rosemead amid, yes, more contention and controversy.
Hollywood talent agencies are beginning to redefine themselves by creating digital media divisions.
Reinhold Industries, a maker of aviation components, has been trying to find a buyer for six months.
Charles Crumpley says it is not more lucrative for real estate agents in higher-priced markets vs. lower-priced ones.
Jim Cramer of CNBC talked up Hi-Shear Technology Corp. and the company, which makes components for space satellites, went into orbit.
Now that startup 1st Century is profitable, its next challenge is finding a replacement for co-founder Richard Cupp, who wants to retire.
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.?
Joshua Christopher gave up the legal life and has found success in apparel as his T-shirt brand, Boyfriend, is getting the celebrity treatment.
The slowdown in home sales is leading to consolidations and closures of sales offices throughout Los Angeles.
Cheesecake Receives Delisting Notice; IHOP Restructures Debt, Repurchases Stock; >MGM Offers 'Stargate' Shows on iTunes.
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.
Chris Petrovic has gone from baseball to law to greeting cards. Now he's in charge of bringing Playboy into the digital age.
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.
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.
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 from around L.A.
DTS Inc.'s deal with Avica Technologies accelerates its foray into post-production, distribution and exhibition technologies of digital cinema.
Only 5 percent of senior executives say they telecommute frequently while 62 percent said they rarely or never telecommute.
Nicki Frank's Thoreau Services Inc. is making a niche for itself by specializing in sending cleaning crews to retail stores and restaurants.
Explosive growth in the legal industry is making Los Angeles a hot expansion site for high-end national firms.
Bob Scott of the Valley Industry & Commerce Association opposes a November ballot measure that would increase oil taxes.
The latest round of terrorist concerns has given another boost to OSI Systems Inc., which develops airport screening equipment.
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 about L.A.-area companies.
Prefabricated houses, long popular in colder climates where building seasons are shorter, are making big inroads in Los Angeles.
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.
The average price for a self-serve gallon of gas in Southern California was down five cents for the week ending August 21.
The Moinian Group has purchased a significant piece of downtown property near Staples Center from Anschutz Entertainment Group.
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.
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.
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.
Susan Matloff, the Executive Director of Membership Development for the American Youth Soccer Organization.
Friday, August 18
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 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.
Woodside Applies for LNG Terminal Permit; J2 to Delay Earnings; Southwest Water Declares Dividend.
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 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.
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.
Picture This: Warner Bros. Having a Rare Down Year; Buying First Home a Challenge; Corporate Tax Law Upheld.
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
Lockheed Buys So. Cal. Firm; Younan Buys 2nd Dallas Property; New Image Deal to Pay Off Big; Crofton Appointed as Presidentof Disney World;
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.
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 ...
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.
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.
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 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.
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 ...
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.
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.
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.
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.
Radio Disney Now on iTunes; Former Univision Executive Is Named Executive Director of SEC; 99 Cents Only Hit Again.
Tuesday, August 15
An unexpected drop in wholesale prices sent stocks soaring, with the Dow Jones industrials climbing more than 130 points.
Los Angeles has regained the dubious distinction of having the highest average gas price in the nation, according to the Energy Information Association.
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.
Jacobs Lands More Contracts; Radioactive Material in San Onofre Groundwater; Billionaire Acquires Stake in Tribune Co.; Arden Group Declares Dividend.
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.
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.
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. Online is launching a new version of Web property Scooby-Doo.com, along with Looney Tunes and Hanna-Barbera sites.
Barbara Lewis laments L.A.'s low literacy rate, and she discusses the importance of childhood reading to the future economy.
Attorney Michael I. Wayne of Gibbs Giden spends his days litigating construction and commercial cases and his nights raising money for cancer research.
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.
News Corp. to Sell Fox Movies Online; Hostile Climate Greets Governor's Plan to Save Earth; Up next: `YouTube' of video games? ...
Edison International faces challenges on multiple fronts: aging infrastructure, consumer anger over rate hikes and limits on greenhouse gas emissions.
As AOL retrenched, United Online designed and produced TV ads that targeted their customers.
Attorney Alan U. Schwartz has represented Mel Brooks and Truman Capote, among other writers.
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 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.
Mattel Inc. executive Joe Cristina has devoted more than a decade to providing support to children affected by HIV or AIDS.
Regional news about L.A.-area business.
Employers are bracing for an increase in minimum wage. Impacts could include slower hiring and demand for higher pay in all lower-wage jobs.
Charles Crumpley isn't a smoker, but wonders about L.A.'s restrictions on those who want to light up.
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.
TMZ stepped into the spotlight for breaking the details of Mel Gibson's drunk driving arrest.
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.
So-called ecofashion, including high-end garments made from recycled materials, has become a trend.
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 .
News about area executives.
For the fourth consecutive week, gasoline prices in most areas moved lower despite Alaska pipeline problems and continued war in the Middle East.
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.
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.
Gamblers know that marked cards, false shuffles or cards counting will get you thrown out of most any Las Vegas casino.
Tyloon Inc. offers multilingual help for clients who want to pop up on the screens of potential customers using Internet search engines.
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 Financial Corp. took a beating last week on Wall Street, but some investors believe a downturn is short-lived.
News of the week about L.A.-area companies.
Lorenzo Campus believes that restricting greenhouse gas emissions is of primary importance.
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
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."
At first glance, this hasn't been a great few months for Agoura Hills video game publisher THQ Inc.
The spate of reality dance shows has led to increased interest in L.A. studios that offer ballroom and tango lessons.
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 ...
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.
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
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.
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.
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 ...
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.
Big 5 Has Strong 2Q; Tetra Tech Reviewing Options; Chad Therapeutic Post Bigger Loss, Lower Sales.
Thursday, August 10
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.
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.
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.
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.
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 ...
Employers in California will likely do slightly less hiring during the third quarter than they have been, according to a quarterly report released Wednesday.
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.
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
Walt Disney Co. reported strong third quarter earnings and saw profit in all four divisions, beating Wall Street estimates.
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 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 Hotels Corp. may unload its Scandic lodging group as well as 10 separate European hotels.
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.
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 ...
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 ...
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
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.
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.
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.
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 ...
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 ...
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.
With the economy losing momentum, the Federal Reserve halted the longest unbroken stretch of interest rate increases in recent history.
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 Envy Inc., which organizes garages, wants to make a niche in "the last bastion of home improvement."
Additional facilities would have to be in place before a conference center near LAX would be feasible.
High housing prices are making it hard for some L.A. business to recruit execs.
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.
Paul Tepper of Weingart Development Corp. believes that economic conditions make life in contemporary Los Angeles tougher than it was a generation ago.
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."
Alchemy Worldwide has spent more than $2 million fighting knockoffs and counterfeits of its Magic Bullet Blenders.
One of the largest sites available for infill development in the greater Los Angeles area has hit the market.
MasterFoods USA, a subsidiary of food and confection maker Mars Inc., is relocating most of its Vernon offices to Nashville.
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.
A number of high-end, L.A.-based lines will soon be featuring a higher-rise on their top-of-the line jeans.
Burbank, Lancaster and three others made the list of the L.A. Economic Development Corp.'s most business-friendly cities.
Occidental Buys Oil Company, Look into Kazakhstan; Mercury Profit Drops; California Pizza Kitchen Profit Off; Salem Profit, Revenue Jumps; En-Point Has Solid 3Q ...
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 ...
NextMedium Inc. has developed a means of measuring the effectiveness of product placement and an online marketplace for it.
Never mind beginning the beguine, Evelyn Keyes is ready for Artie Shaw's estate to begin making payments.
Charles Crumpley on the importance of experience in the business world.
Melding American and European benefit packages and workplace cultures is an increasingly common challenge.
Regional news about L.A. County companies.
Today's workplace presents conundrums for employees and employers pursuing life balance while remaining productive.
When Haim Saban was grilled by a Senate committee about offshore accounts, he said he relied on an adviser.
Jacob Terner is trying to make a Culver City hospital more efficient.
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 Inc. deepens its stake in Los Angeles by investing in a second local acute care hospital group.
'I saw it on the radio" was the catch phrase in a classic radio industry ad campaign.
Newsmakers from around L.A. County.
Ted Balaker of Reason Foundation argues that apart from traffic, life in L.A. is easier than it was in the past.
Krispy Kreme Doughnuts Inc. and its biggest franchisee, Los Angeles-based Great Circle Family Foods LLC, settled a dispute last week.
DoctorsDirect.com links patients with doctors and allows appointments to be instantly scheduled.
David Lee, the largest landlord in Los Angeles County, has become the biggest owner of the new Premier Business Bank.
Such employers as hospitals and law firms can place significant demands on their employees' time.
Adstar Inc. has made a deal that will help bring online advertising into newspaper classified pages.
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.
Carat Fusion, an agency known for its high-end clients, is revving its search engine efforts in Los Angeles.
The FCC ordered Time Warner Inc. to return the NFL Network to its cable systems in Southern California.
Digital Insight Corp. (Nasdaq:DGIN)
Two L.A. Web sites, BeNetSafe.com and Utherverse.com, aim to address the question of sex on the Internet.
Google has struck a deal to allow Web site owners to put video clips from Viacom on their pages.
Tourism officials tried to put a positive spin on the downsizing of the massive E3 video game exhibition.
Personnel experts discuss the latest trends in human resource management.
Friday, August 4
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.
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 ...
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.
Allen Selling Out at Dream Works?; LAUSD Sells $400 million in Bonds for Schools; Health Care Properties' Rating Drops; Abraxis Reports Loss, Increased Sales ...
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 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.
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.
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.
Bolstered by strong box office and DVD sales, Dream Works Animation SKG Inc. gets back in the black.
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
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 for: Univision; Activision; Saehan ; Superior; Macerich; Six Flags; Napster; Guess?; Tetra Tech and Diodes Inc.
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
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
Putting aside the public rancor of the past few months, Tribune Co. management and the Chandler family have returned to the bargaining table.
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.
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
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 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.
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 Automotive Industries Inc. continued its comeback with increased sales and profits for its first quarter of the year.
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 ...
Bd Systems Acquired by SAIC; Abraxis Gets New CFO; Northrop Gets New Laser Facility; Web Site Operator Hit With Fraud Charges
WPT, Sports Chalet, Cogent, DaVita, Iris and Herbalife earnings roundup.
Los Angeles Mayor Antonio Villaraigosa on Wednesday announced he had tapped a Clinton administration State Department official to head an expanded international trade office.
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.
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.
Chris Thornberg, a noted economist with the UCLA Anderson Forecast, has decided to leave the school and start his own firm.
The California Supreme Court will not hear opponents' case against a Beverly Hills luxury hotel.
Tuesday, August 1
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.
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 ...
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.
Earnings for Molina Healthcare; Staar Surgical and Health Care Property Investors.
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.
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.
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 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.