Stories for July 2002
Monday, July 29
NEWSMAKERS
People in the News, on the Move. Plus: Planner Finds Need for Financial Advice
Vans Skates Out of Partnership For Latin American Shoe Sales
Retail by Deborah Belgum
Deal Paves Way for Sale of National Golf
Deal Paves Way for Sale of National Golf
Cities Unite in Suit to Overturn L.A. River Trash Law
A coalition of 22 L.A. County cities is seeking to overturn Environmental Protection Agency regulations requiring them to keep litter and trash out of the Los Angeles River.
Port Moves Herald Shift Toward Further Automation
The ports of Long Beach and Los Angeles are scheduled to play musical terminals next month
Beacon Close to Winning Bid for Purchase of BP Plaza
Real Estate by Danny King
TV Commentator Horowitz Takes on One-Time Partners
LAW by Amanda Bronstad
Panic Gone, New ICN Team Finds Finances in Disarray
With the controversial Milan Panic gone, the new management of Orange County's ICN Pharmaceuticals Inc. must pick up the tattered pieces, which include a second-quarter earnings warning and a projected sales shortfall. Plus: Watch Those Dividend Yields
My Favorite Sites
Favorite Webs Sites of Robert Skousen, Chief Executive, by Skousen & Skousen
Deals Shore Up Stamps.com Amid Wild Market
Shares of Stamps.com have been buoyed by two major announcements, although the Santa Monica-based company continues to lose money.
Robust Home Sales Spur Gain in County Tax Rolls
Fueled by a hot residential real estate market, property tax rolls in L.A. County rose 6.2 percent last year over 2000 levels, providing a much-needed dose of good news for cash-strapped local governments.
Veteran Broker Sees Values, Need for Patience in Slump
Wall Street West by Benjamin Mark Cole
Review & Preview
Earnings Reports; Earnings Updates; Misc. news and more
Options Debate Splits Old, New Economy Firms
THE EXECUTIVE PAY CRISIS - Big Bucks, Mixed Results
Comment: Not Rich, Not Poor
Commentary by Mark Lacter
Perry Seeks Limits On Proliferation of Fast Food Outlets
POLITICS by Howard Fine
Well-Paid L.A. CEOs Lag Top National Chiefs
THE EXECUTIVE PAY CRISIS - Big Bucks, Mixed Results
Brokers Look for Greener Pastures In Office Shuffle
The commercial real estate brokerage business, coming off two boom years, has started to churn at unprecedented levels.
Xdrive Files Chapter 11; GeoCities Founder Makes Bid
Xdrive Technologies Inc. has filed for Chapter 11 bankruptcy protection with a prepackaged plan to be acquired by one of its former board members, David Bohnett, pending Bankruptcy Court approval.
KFWB Anchor Kilgore Heads To Wall Street Journal Network
Media by Claudia Peschiutta
Passing the Torch in Family Business Can Be Seamless
Entrepreneur's Notebook by Ernest A. Doud
"Colorblind" Privacy Plan Distorts Real California
Opinion by Leonard Pitts, columnist for the Miami Herald.
LABJ Forum: Time to Take a Deep Breath
At a time when the stock market has been a rather unfriendly place, it's difficult to know just what to do watch as your holdings dwindle with the hope they'll come back in the future or take a bold step and make some changes to your investments? So the
Absorbing Lesson from Japan, Greenspan Slow to Trim Rates
Opinion by William Pesek, columnist with Bloom-berg News.
L.A. Stories / The Roving Eye
Weekly columns
Business Groups Say Proposed Tax Changes Fall Short
More than a year after he took office promising an overhaul of the city's business tax code, L.A. Mayor James Hahn is scheduled this week to release his blueprint for business tax reform.
Monday, July 22
Dealmaking at a Crawl as Businesses Stay on Sidelines
Real Estate Quarterly North County
LABJ Forum: Half-Empty vs. Half-Full
The Dow Jones Industrial Average plummets 200 points one morning, only to climb 100 in the afternoon. Earnings are falling shy of projections, chief executives face indictment and even good news is met with a shrug. Given all the volatility, the Business
Office, Industrial Vacancies Inch Upward, Relief Distant
Real Estate Quarterly Ventura County
Comment: No Legislation For Earnings
Commentary by Mark Lacter, editor
Absorption Fails to Put Dent In Area Saddled With Space
Real Estate Quarterly San Fernando Valley
Investment Activity Climbs As Leasing Comes to a Halt
Real Estate Quarterly Hollywood
Build-Up of Demand Gives Boost to Industrial Activity
Real Estate Quarterly Inland Empire
Small Business: Mix and Match
Brothers Derek and Greg Banton, South African emigres, have turned a feel for fashion into a thriving business capitalizing on others' rejected clothes.
Review & Preview
Summaries of week's misc. news; Preview of upcoming stories and events
NEWSMAKERS
Trade Show Veteran Markets Conventions
Refinance Boom Fuels Real Estate Rush by Countrywide
Countrywide Credit Industries Inc., flush from the recent spate of residential refinancings and anticipating further growth in mortgage servicing operations, has been on a real estate buying spree.
Low Interest Rates Spurring A Frenzy for Industrial Sites
Real Estate Quarterly Mid-Cities
Executive Summary / The Pacesetter
Summaries of this week's List - Commercial & Industrial contractors Ranked by 2001 billings for work performed in L.A. County
Veteran Trader Finds Clients Warming Up to Bond Buys
Wall Street West by Benjamin Mark Cole
Deals Rare as Market Owns Area's Highest Vacancy Rate
Real Estate Quarterly South Bay
Secession Effort Petering Out, Campaign Shifts to Valley Voters
Nov. 5 ballot measure for San Fernando Valley secession appears headed for defeat at the polls, but it could turn out to be a hollow victory for L.A. Mayor James Hahn and the anti-secession forces.
Slow Market Gives Tenants Upper Hand in Negotiations
Real Estate Quarterly Westside
Global Creditors In Costly Bind as Bids Disappoint
Bids submitted in the bankruptcy court auction of Global Crossing Ltd. have fallen far short of creditors' hopes, raising the unwanted specter of a go-it-alone strategy for the money-losing telecommunications concern.
Strength of East Side Lifting Struggling Leasing Market
Real Estate Quarterly Wilshire Corridor
Activity Way Up as Market Outpaces Much of County
Real Estate Quarterly San Gabriel Valley
Mexican Music Station Regains Some Ratings Ground
Also: Morning Anchor Looking at Options
My Favorite Sites
Favorite websites of Denny Lanfear, Chief Executive, Toxweb
Flurry of Lease Deals Gives Boost to Lackluster Market
Real Estate Quarterly Tri-Cities
Hiring at L.A. Chamber Puts Renewed Emphasis on Policy and Government
POLITICS by Howard Fine; The L.A. Area Chamber of Commerce, long criticized for not having a significant enough presence in the corridors of government power, has boosted its public policy staff.
11-Year-Old Says Warner Bros. Kept Contest Winnings
Also: Judge Rejects Bulk of Idealab Suit, Refiling Expected
Monday, July 15
Insider Selling Soars in L.A.'s Hottest Sectors
Others may be suffering, but insiders at L.A.'s largest companies are still living in Fat City. Despite declines in the broader markets and the values of local companies during the past year, local executives have continued to sell, and to spend the proce
Newsmakers
People in the news, on the move
Top Cop Hopefuls Denote Growing Latino Clout
Opinion by Earl Ofari Hutchinson, author and columnist
L.A. Stories / The Roving Eye
Weekly Columns - Don't mess with my SUV; Spam cooking contest? Maximizing Your Sex Appeal; Paul Newman and Tom Hanks in the "Road to Perdition"; For Lakers' coach Phil Jackson it's all about hair.
Tower Emulating Indie Stores With New Pug'z Brand
Retail by Deborah Belgum
People Interview: Learning Curves
Carrying a new contract and the lessons of his first two years, LAUSD Superintendent Roy Romer faces new hurdles in building, improving schools
Comment: Lots of Noise, Little Action
Commentary by Mark Lacter
New Times Business Editor Planning Minor Changes
Media by Claudia Peschiutta
Butting Heads: Miniace Takes Harder Line for Shippers
After witnessing what he described as union-staged work slowdowns Pacific Maritime Association President Joseph Miniace took a hard-line stance this year that the ship companies he represents have been looking for.
Mossimo and Cherokee in Battle Over Finders-Fees
Struggling designer Mossimo Giannulli struck a licensing deal with Target Corp. two years ago that arguably saved his company, Mossimo Inc., from bankruptcy.
LAX: Is There A Quicker Fix? $9.6 Billion Hahn Plan Too Large, Some Say
Perhaps L.A. Mayor James Hahn's $9.6 billion plan to overhaul Los Angeles International Airport can be completed in most of our lifetimes. But for anyone over 50, it might be touch and go.
Warner Bros. Sued Over Liberal Use of "Superman" Footage
A dispute over rights to the DVD versions of several "Superman" features has led to a legal tussle between the movies' British licensor and its U.S. distributor, Warner Bros.
Review & Preview
Weekly Column - review of week's news; preview of upcoming stories.
Dwarfed by Mega-Deal, Other Warner Properties Sold
Real Estate by Danny King
Making Time for Strategic Planning Worth the Trouble
Entrepreneur's Notebook - Evon G. Rosen
Pharmacists Warn Medi-Cal Cutback Might Be Ruinous
Health Care by Laurence Darmiento
Saddled With Debt, Comdex Operator Looks for Way Out
Wall Street West by Benjamin Mark Cole
LABJ Forum: CEOs' Lender of First Resort
As part of his plan to crack down on corporate America, President Bush last week called on corporate boards to curb company loans to executives. The request came after disclosures that several companies either in or near bankruptcy had granted lavish loan
Hurry Up and Wait for Massive Public Projects
LAX: Is There A Quicker Fix? If recent history is any guide, massive public works projects on the order of the LAX overhaul face years or even decades of delays before they are completed if they get finished at all.
Semiconductor Maker Quiet After Analyst Downgrading
Corporate Focus by Anthony Palazzo
Spinosa Striving to Preserve the Union
James Spinosa is anything but a neophyte when it comes to negotiating contracts with the Pacific Maritime Association.
Executive Summary / The Pacesetter
Summaries of this week's List - Largest private employers Ranked by number of employees in L.A. County
Kickback Allegations Highlight Gray Area For Title Companies
A Long Beach title company faces $2.3 million in fines and the possible loss of its license after state insurance regulators accused it of giving kickbacks to real estate agents.
Monday, July 8
Small Business Profile: Raising Expectations
Although it provides only temporary products, Academy Tent and Canvas has become a permanent fixture from Oscars to Tournament of Roses parade.
LABJ Forum: The Martha Stewart Matter
The doyenne of d & #233;cor, Martha Stewart, is at the center of a media and prosecutorial firestorm after revelations that she sold shares of ImClone Systems Inc. right before the company announced one of its drugs would not be approved by the Food & Drug Admin
Freeze or Not, Delgadillo Finds A Way to Hire more Attorneys
Politics by Howard Fine
My Favorite Sites
Favorite websites of Bob Brisco, Chief Executive, Carsdirect.com
Surviving a Cruel World
Comment by Mark Lacter
Review & Preview
Review of week's news, Preview of upcoming stories
Executive Summary / The Pacesetter
Summaries of this week's List - Property/Casualty Insurers, Ranked by 2001 direct statewide property/casualty premiums written.
Northrop Deal for TRW Makes Sense, for Now
Kresa Pays High Price To Buy Defense Rival; Northrop Grumman Corp. stretched, but didn't break, in paying top dollar for TRW Inc., the prized final piece of the defense-industry superpower that Chairman and Chief Executive Kent Kresa has been assembling
Court Won't Review Lien Policy, Delivering Victory to Hospitals
Health Care by Laurence Darmiento
Help for County Budget Ills Seen in Outpatient Care
Every day, cardiologists at Olive View-UCLA Medical Center face a dilemma that exemplifies the county's troubles in trying to close a widening gap in its $2.9 billion health department budget.
L.A. Stories / The Roving Eye
Weekly Columns
Stubborn Holdout Finally Relenting For the Cell of It
Op/Ed by Leonard Pitts, columnist for the Miami Herald.
Interview: Flight of Fancy
Ted Hartley, who came to Hollywood as an actor and left for investing, has found running the legendary RKO studio rife with challenges.
Dr. Seuss Acquisition Is Start of New Path For Family Producer
Dr. Seuss Acquisition Is Start of New Path For Family Producer
Building a Technological Advantage
Additions: TRW's technological expertise is expected to vault Northrop into the top tier.
Letting Logic, Not Panic, Guide Your Public Speaking
Entrepreneur's Notebook by Lawrence M. Kohn & Robert N. Kohn
Purchase to Result in New Look for Old Whittwood Mall
Real Estate by Danny King
Cargo Flowing as Port Labor Talks Go Past Deadline
Jack Suite recalls that during contentious contract talks with West Coast dockworkers in 1999, recorded messages at the dispatch hall for the Ports of Los Angeles and Long Beach advised union members to take it easy.
NEWSMAKERS
Casden President Starts Anew on Projects
Loan Quality Dips Among Big Banks, Small Lenders OK
Taking Stock of Corporate Troubles; For the second year in a row, loan quality among California banks has declined as participation in nationwide lending syndicates comes back to bite some of the state's larger banks.
City Tries to Blend History, Change in Downtown Project
Spotlight on Covina
Tussle in Garment District
Kennedy and Trammel Crow Clans Vie for L.A. Supremacy; A war for business at the California Market Center, left, and the L.A. Mart has heated up as the two sides recruit tenants to set up shop at the massive showrooms.
Diversity Softens L.A. Fallout
Taking Stock of Corporate Troubles; Entire floors of downtown offices are being abandoned. Vendors looking to get paid are now stuck in bankruptcy court. Investors face stunning losses from failed companies. Customers are jumping ship, or at least conside
Fictional Story Leads to Real Life Lawsuit for AMG
Michael Ovitz's Artists Management Group may be on its last legs, but that hasn't stopped a Hollywood production company from accusing the firm of negligence and misrepresentation.
Dodgers Change Tune on Spanish Radio
Media by Claudia Peschiutta
Newly Formed Coastal Commission Facing Priority Test
Private: Decision on Mailbu Coastal Plan, including public access, is due this week.
Importers Face New Costs With Customs' Anti-Terror Program
Dilligence: Rules require importers to know who is involved every step of the way.
Exotic Drums Playing Well for Percussionist
Weekly Briefing
Tale of 2 L.A.Tech Companies: One Down While Another Out
Fading: Xdrive officials denied closure rumors; L90 Inc. announced on July 1 that it would buy the North American media sales business of DoubleClick Inc., a rival Internet advertising company, for $5 million in cash and 4.8 million shares of stock, chang
Employee Ownership Plans A Hard Sell in Wary Market
Wall Street West by Benjamin Mark Cole
L.A. Retail Appeal Ebbs as Vacancies Creep Up in 2002
Retail by Deborah Belgum
VICA's Silence Puts Crimp in Secession Push
With citywide support for San Fernando Valley secession trailing substantially in the polls, proponents looking to turn the tide could use big-money donors and fast.
Monday, July 1
Judah Hertz Group Eyeing Downtown Office Tower
Judah Hertz, one of the biggest individual investors in downtown real estate, has his sights set on the City National Bank headquarters at 606 S. Olive St.
Showdown Seen After Vote to Cut Health Funding
After voting last week to make deep cuts in county health department services, L.A. County supervisors are headed on what some claim is a politically calculated showdown with state and federal officials this fall.
LETTERS
Letters
L.A. Manufacturing Base Declines
Los Angeles County, toppled in 2000 from its perch as the nation's largest manufacturing employment base, again saw jobs slip in 2001.
New Terminal Launches Improvements at Long Beach Port
Strike or no strike, the $575 million Hanjin Shipping Co. terminal scheduled to open this month at the Port of Long Beach will complete the first round of a years-long facelift at the facility where bigger is considered better to accommodate larger and
A Century of L.A. Water
A Century of L.A. Water
The Users
L.A.'s Search For Water A Special Report
Anti-Piracy and Profits Propel Lawyer into Bollywood Battle
Shelf Life: Pirated videotapes of Indian films are widely available in California; Harpreet Brar has taken to defending the world's biggest movie-making industry from piracy.
Rate of Restated Earnings Up at L.A. Companies
Mirroring a national trend, L.A. companies have been restating their numbers at a growing rate over the past five years, according to data compiled for the Business Journal by Huron Consulting Group of Chicago.
Potential Bidders Reaching Out to Adelphia on Local Cable Franchises
As potential bidders line up in the days after its Chapter 11 bankruptcy filing, Adelphia Communications Corp. officials said no immediate layoffs or reductions in services are planned in Los Angeles.
L.A. Stories / The Roving Eye
Weekly Columns: Hip-hop and country music make strange bedfellows; Local environmentalists should be pumped about the BP/ARCO gas station in South Gate; More ...
Long-Neglected Community Near Foothills Gets Attention
Spotlight On Tujunga
L.A. Has Looked Elsewhere to Quench a Constant Need
L.A.'s Search For Water A Special Report
Review & Preview
Review of week's news; Preview of upcoming stories
LABJ Forum: Checking Your Stocks?
WorldCom Inc.'s disclosures last week that it substantially inflated profits for more than a year due to improper accounting procedures sent an already shaky stock market reeling. For months now, it seems there have been almost daily reports of new corpor
Impco Hopes Unit Spin-Off Will Boost Investment Focus
Corporate Focus by Anthony Palazzo
State Electricity Bonds May Prove Attractive to Investors
Wall Street West by Benjamin Mark Cole
Diverse Interests Will Again Face Off in Coming Months
L.A.'s Search For Water A Special Report
Signal Hill Insurer Will Quit Calpers In Coverage Row
Health Care by Laurence Darmiento
Thirsty City Explores Viability of Saltwater, Wastewater
L.A.'s Search For Water A Special Report
MOCA Budget Falls Victim To Biggest Donor's Distress
The financial troubles of a major donor have strained the operating budget of the Los Angeles Museum of Contemporary Art, at a time when the downtown institution already has taken a gamble by bringing in the Andy Warhol exhibit.
Great Divide Between Water-Rich North, Arid South
L.A.'s Search For Water A Special Report
L.A. Retail Liquidators are Booming as Others Go Bust
When McCrory Corp., one of the country's last five-and-dime store chains, decided to close 200 of its stores earlier this year following a bankruptcy filing, it turned to the Buxbaum Group.
Rising Star Padilla May Be Odd Man Out in a New Valley City
POLITICS by Howard Fine
Parties Break Silence on Contract Impasse
Parties Break Silence on Contract Impasse
Coffee Company Getting Pushed to Institute Changes
The largest institutional shareholder of Farmer Brothers Co. has formally renewed its efforts to force management of the tightly controlled coffee company to institute major changes in hopes of raising the stock price.
Riordan Distant as Firm Restructures
Richard Riordan's first love is feeling separation pains. Since his return to private life, the 72-year-old former mayor and failed gubernatorial candidate has remained aloof from Riordan & McKinzie PLC, the law firm built largely on his business and poli
Stooges Ruling Sends Rockers' Likeness Suit Back to Lower Court
It was a split decision for classic rock stars Edgar and Johnny Winter in their suit against DC Comics for defamation and misappropriation of likeness for commercial gain.
Expand the Brand
Maureen Smullen's design firm takes what's common and marries it to existing brand names to generate new lines of revenue-producing goods.
Corporate Crooks Spin Crisis of Confidence
Martha: Hour-to-hour coverage of Stewart's alleged misdeeds.
Developer Breathes New Life into Failed Hawthorne Mall
Nearly 1 million square feet of a Hawthorne eyesore is in the early stages of a redevelopment its developer thinks will jumpstart languishing retail and office markets.
Bush's Words Alone Not Enough to Cure Housing Ills
Opinion by EARL OFARI HUTCHINSON, author and columnist. He can be heard on KPFK Radio, 90.7FM
Church Moves on Development of Former College Site
Real Estate Column by Danny King
NEWSMAKERS
People in the News, on the Move.
People Interview: Power Player
Although he represents Kobe Bryant and other star athletes, sports agent Arn Tellem says business, not glamour of celebrities, keeps him in the game.
Executive Summary / The Pacesetter
Summaries of this week's List - Environmental Firms Ranked by number of L.A. County environmental employees
Cooks' Nook Found in Look at Book Business
Weekly Briefing