Stories for July 2003
Monday, July 28
Accounting Probes Take Toll on Shares of Local Game Makers
WALL STREET WEST
ENTERTAINMENT QUARTERLY v Industry in Review
Quarterly round up of activity in movies, TV, music, radio and video games.
EXECUTIVE SUMMARY / THE PACESETTER
Summaries of this week's List - Property/Casualty Insurers, ranked by 2002 statewide property/casualty premiums written
Robert Blake Case Lands Business Attorney (Happily) in the Spotlight
For most people, seeing your lawyer on "Geraldo" isn't a good sign. For Raj Rai, owner of Cypress-based Pepperoni's Grill pizza chain, it's something to boast about.
THE LABJ STOCK INDEX
Tracking 200 selected Los Angeles County-based companies; Market Diary, Market indexes, Industry analysis, 52-week performance, weekly top Gainers & Losers, Market summary, weekly profile
REVIEW / PREVIEW
Review of this week's other top news; Preview of upcoming stories and events...
Venture Funding Showing Signs of Returning to Life
Local venture investing in Los Angeles, never a leader in capital-raising to begin with, jumped in the second quarter compared with the paltry levels of the first three months of the year.
LABJ's LA Stories / The Roving Eye
Weekly Columns; More news and talk from around the town, behind the scenes...
ECONOWATCH L.A. COUNTY
Charts of Economic Indicators, Real Estate, Tourism...
LABJ FORUM - Cash Crop
The Business Journal asks: Should the U.S. shell out $30 million to for the lead that bought it Saddam's sons?
WEEKLY BRIEFING - Brothers Find Lost Art Of Mending Old Books
Heritage Book Shop and Bindery in West Hollywood has grown to employ 22 and now has an office in London.
Fight to Cut Smog Has Local AQMD Asking Feds' Help
With Los Angeles suffering through its hottest summer in years, bad air is back and local regulators say they've done about all they can do.
Lennar Venture Banking on Increasing Property Values in Newhall Land Deal
With its planned purchase of Newhall Land and Farming Co., Florida homebuilder Lennar Corp. is making a big bet on continued demand for housing on the outskirts of L.A., and constraints on supplies to fill that demand.
MiniMed Pump Keeps Company Ahead of Market
A new high-tech insulin pump that uses wireless technology to measure doses could be an important development in the treatment of diabetes and a boon to one of its creators, Northridge-based Medtronic MiniMed.
CALENDAR
Calendar of L.A. business events, conventions, and announcements
How Did You Get Started?
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Budget Ills Spur Higher Bond Yields
The failure of California lawmakers to resolve the $38 billion budget deficit on time is wretched news for taxpayers, who inevitably face higher taxes and cuts in state services.
BANKRUPTCIES
Weekly List of recent L.A. bankruptcies
Doubts Growing About Viability of USC Biotech Park
A year ago, sponsors of a proposed biotech park near USC's Health Sciences campus in Boyle Heights were hopeful they could break ground as early as 2004.
Monday, July 21
CALENDAR
Calendar of L.A. business events, conventions, and announcements
Renaissance Out, Loews in at 137-Room Beverly Hills Hotel
A group from Loews Hotel Inc. has taken over management of the Renaissance Beverly Hills hotel after the hotel's owner, Strategic Hotel Capital LLC, fired the previous operator for failing to meet performance goals, according to Strategic.
REVIEW / PREVIEW
Review of this week's other top news; Preview of upcoming stories and events...
BANKRUPTCIES
Weekly List of recent L.A. bankruptcies
Threat of Benefit Cuts Could Lead to Supermarket Strike
Grocery store workers and management at four major supermarket chains in Southern California are bracing for a battle royale over employers' plans to cut health and pension benefits in upcoming contract talks.
NEWSMAKERS
Seeking to Extend Wireless Internet at Home and Abroad
News Group Awards Five First-Place Wins To Business Journal
The Los Angeles Business Journal received eight awards, including five first prizes, at the Association of Area Business Publications' annual conference.
LABJ FORUM - Summertime Reading
The Business Journal asks: What is on your nightstand right now?
EXECUTIVE SUMMARY / THE PACESETTER
Summaries of this week's List - Commercial & Industrial Contractors, ranked by 2002 billings for work performed in L.A. County
Travel to Baghdad Could Boost Profit at Airline With L.A. Ties
WALL STREET WEST
County Job Growth Projections Revised Downward
Job growth in Southern California will be far slower this year than originally projected, as uncertainty over the state budget crisis, workers' compensation costs and the national economy keep employers from hiring, according to a new forecast.
Attorneys Flee Entertainment Firm
A large exodus from the Beverly Hills entertainment boutique Berkowitz & Black PC, which for years represented Frank Sinatra's estate, may result in the firm's dissolution or restructuring.
Financial Pressure Mounts for Owner Of Hipster Hotels
Ian Schrager, the impresario behind the Sunset Strip's Mondrian Hotel and its Skybar nightspot, is under mounting pressure to repay or restructure debt totaling more than $400 million.
Bankrupt Strouds Selling Off Leases
Strouds Acquisition Corp., the bankrupt linen retailer that is in the process of liquidating, has sold 16 of its 46 store leases in an auction, with 10 going to Anna's Linens of Costa Mesa.
Anschutz's Pacific Energy Has Shown Strong Yields Early On
CORPORATE FOCUS - It's easy to forget that Philip Anschutz, the Denver billionaire known for his involvement with Staples Center, Regal Entertainment Group and Qwest Communications, made his first fortune in the oil and gas business.
Law Impels Firms to Disclose Security Breaches
A state law that went into effect July 1 requires companies that maintain computer databases on clients to notify them if hackers break in and steal clients' personal data that could be used in identity theft.
Monday, July 14
LABJ's LA Stories / The Roving Eye
Weekly Columns; More news and talk from around the town, behind the scenes...
Pay Boost for Nursing Homes Floated
Nursing homes, hard hit by the state's budget crisis, are getting some help from the federal government after years of takeaways.
Accounting Firm Cites FBI Inquiry In Civil Case Plea
Three accountants in the L.A. office of Moss Adams LLP have temporarily avoided a civil fraud trial by claiming they and the firm are under investigation by the FBI for bank fraud, according to court documents.
Calpers Health Plan Faces Exit Of Local Cities
An unprecedented number of Southern California cities, strapped for cash and seeking cheaper premiums, are considering leaving the California Public Employees' Retirement System for health coverage.
Hollywood's D.C. Distortions
COMMENTARY by ANDREW FERGUSON
Cost of Dockworkers' Benefits Higher Than Shippers Expected
The generous pension and benefit packages enjoyed by International Longshore and Warehouse Union members have long been the envy of other union locals in L.A. County.
REVIEW / PREVIEW
Review of this week's other top news; Preview of upcoming stories and events...
CEO Pay Up Again Despite Weak Profits
In spite of reforms and ongoing criticism of hefty compensation packages, L.A.'s chief executives continued to reap rich rewards last year even as overall earnings suffered.
NEWSMAKERS
Businesspeople and businesses in the news, on the move...
LABJ FORUM - Dodger Dogs?
The Business Journal asks: Do you think the Dodgers can turn things around and make the playoffs?
Fluor Enters Bids for Iraq Reconstruction Work
After weeks of uncertainty, Fluor Corp. is readying to bid on two contracts for rebuilding Iraq's oil industry.
Reform Measures Yield Mixed Results
Board Shuffle Raises Cost, Time Demands
Developer Tutor Remaking Le Dome
Construction tycoon Ronald Tutor is getting into the restaurant business.
Monday, July 7
Brooks Brothers Gambles With Beverly Hills Flagship Location
Brooks Brothers' new West Coast flagship on Rodeo Drive in Beverly Hills marks the beginning of a new strategy for the venerable retailer, which is trying to expand outside its traditional locations.
Bankruptcies
Bankruptcies
For Investor at Center of Strouds Probe, It's Water Off His Back
Walter Cruttenden III, the Newport Beach financier whose transactions with bankrupt Strouds Acquisition Corp. are being probed by the linen retailer's unsecured creditors, isn't the type of guy who gets obsessed with such complications.
Italian Pottery Retailer Files For Bankruptcy, Closes Vegas Location
High overhead, sagging sales and the devaluation of the dollar against the euro have forced Cottura Inc., a high-end retailer of Italian pottery, to file for Chapter 11 bankruptcy protection.
Firm Gives Wrong Directions On Wall Street, Pays the Price
CORPORATE FOCUS
Facing Restatements, eUniverse Turns to Venture Group Veteran
WALL STREET WEST
LABJ's LA Stories / The Roving Eye
Weekly Columns; More news and talk from around the town, behind the scenes...
U.S. Takes Action Against Alleged Apparel Smugglers
In what could be the biggest apparel smuggling ring in over a decade, three local businesses have been cited by the U.S. Attorney's office as having participated in a scheme to get $418 million worth of goods past customs.
REVIEW / PREVIEW
Review of this week's other top news; Preview of upcoming stories and events...
CALENDAR
Calendar of business events and conventions...
LAX Overhaul Plans Will Be Scaled Back
The proposed $9 billion overhaul of Los Angeles International Airport is being scaled back, with plans for a 1.5-mile underground baggage tunnel to be reduced or eliminated due to its $1 billion price tag...
LABJ FORUM - Feeling the Sacramento Blues
The Business Journal asks: How have the state's budget problems affected you?
EXECUTIVE SUMMARY / THE PACESETTER
Summaries of this week's List - Largest Cities in Los Angeles county ranked by population