Stories for October 2006
Tuesday, October 31
Thanks to a doubling of revenue and strong room occupancy rates, Hilton Hotel Corp. posted solid third quarter numbers.
Maguire sees narrowed loss, shares slightly up on third quarter earnings.
DreamWorks Animation SKG Inc. surprised Wall Street Tuesday with a profit, sending its shares up after the bell.
The latest figures show that circulation at the Los Angeles Times decreased 8 percent in the six-month period ending in September. According to data from the Audit Bureau of Circulations, the Times lost almost 67,500 readers.
The owner of the Los Angeles Daily News has fired publisher Tracy Rafter after only two years on the job, and plans to cut more than 20 jobs, according to reports on Tuesday.
Boeing officials said Monday they were confident that a new military global mobility study would show the need for many more C-17s and that there were customers interested in buying at least 40.
What role will the pollution-control measures have on cargo flow in Southland ports?
CB Richard Ellis Group Inc. said Tuesday that it has agreed to buy rival Trammell Crow Co. for $2.2 billion.
Hansen Natural Corp. said Tuesday that it has received a letter from the Securities and Exchange Commission requesting information about its stock option grant practices.
On Assignment Inc. reported net income of $2.7 million (10 cents per share), up 50 percent from $1.8 million (7 cents) for the same period a year earlier.
HandHeld Entertainment, a subsidiary of Image Entertainment Inc., announced an agreement to broadcast video selections on HandHeld's video download store, ZVUE.com.
Crown Media Holdings Inc. said Tuesday that Paul FitzPatrick has resigned as chief operating officer.
U.S. employment costs accelerated during the third quarter at their quickest pace in over two years.
Monday, October 30
A change in channel line-up and an e-mail meltdown had Time Warner Cable overwhelmed by service calls
Wachovia Corp. has signed a lease in Century City for its new Southern California regional headquarters, planned renovation was enough to keep CNN at the 6430 Sunset Blvd. building, Equity Residential continued its pursuit of beach-adjacent property in th
The Los Angeles market could have yet another merger on the way. Although neither Orrick Herrington & Sutcliffe LLP nor Dewey Ballantine LLP is based in Los Angeles, both firms have offices here. The firms made their negotiations public last week.
Chevron Corp.'s third-quarter profit rose 40%, spurred by higher oil prices and a massive jump in earnings from its refining and marketing segment.
Daily circulation fell 2.8 percent at U.S. newspapers in the six-month period ending in September, an industry group reported Monday.
Computer Sciences Corp. said Monday that Airbus North America Engineering, has retained CSC's IT services for another six years in a deal reportedly worth $20 million.
Downsizing at NBC Universal will lead to consolidation of newsgathering operations.
Quincy D. Jones III and Paul Campbell have launched a video and music company and are making deals with Black Entertainment Television, Comcast and others.
The economy has slowed to a snail's pace, growing in the just-finished quarter at the slowest rate in more than three years.
"Split Ends" is the Style Network's upcoming, fish-out-of-water reality series in which hair stylists switch places for six days.
Haunted Memories makes portraits that offer not-so-hidden views of the scary side of things.
A dozen television and still cameras greeted actor Robert Redford when he went to a hilltop last week to declare his support for Proposition 87, the oil tax initiative on the Nov. 7 ballot.
A protective coating was needed on a Hollywood skyscraper due to asbestos abatement. There's an ad on it, and it's a big one.
Advertising can lure borrowers into risky home loans, according to Gary Hails of Pacific Resource Credit Union.
A 117-year-old tradition comes to an end as Ben Myerson Candy Co. Inc. has sold its candy-making operation to Jelly Belly Candy Co., which will move much of it out of L.A.
Charles Crumpley looks at the bright side of Mayor Antonio Villaraigosa's recent trip to Asia. And he looks at the dark side of e-mail.
Historic preservation laws have been good for Los Angeles, writes Michael Buhler of the Los Angeles Conservancy.
Web sensation MySpace became so big so fast, but now Jackie Birnbaum and her fellow English classmates say they're over MySpace.
Britain's culture secretary on Friday compared the U.S. crackdown on online gambling to the failed alcohol ban of the Prohibition as she prepared to host an international summit on Internet gambling next week.
The Hollywood Chamber of Commerce is proposing the creation of a 24-acre park that would be built on a concrete cap atop the Hollywood Freeway.
With the sale of its remaining California business unit last week, Magnetek Inc. is moving its headquarters from Chatsworth to suburban Milwaukee.
Clear Channel Communications Inc. reported an 11-percent dip in third-quarter earnings.
The Los Angeles Times kicked off its latest redesign last week.
Activision Inc. said Monday that it has entered into an agreement with Mattel Inc. to produce two adventure games based on the Barbie franchise.
Hythiam Inc. (Nasdaq: HYTM)
Syntax-Brillian Corp. said Monday that it has agreed to buy Vivitar Corp. of Oxnard, a photographic and digital imaging products maker, for $26 million in stock.
Chella Professional Skin Care
Dean Baquet, the Los Angeles Times editor who publicly opposed staff cuts at his paper last month, encouraged other editors to push back against newspaper owners when they propose such cuts.
The partnership between Santa Monica Mayor Bobby Shriver and U2 singer Bono is behind an international marketing campaign with the aim of eliminating AIDS in Africa
Enova Systems said Monday that it has partnered with Conway, Ark.-based IC Corp. to provide hybrid drive systems for a new line of fuel-efficient commercial buses.
KB Home said late Friday that it received a notice of default from a holder of its 7.25 percent senior notes due 2018.
Yamaha Corp., one of the world's leading makers of musical instruments, is expanding its partnerships with the talent that uses its musical gear.
While many mortgage lenders are getting hammered as the housing market has headed south this year, Pasadena-based IndyMac Bancorp Inc. should continue to hold its ground, industry analysts say.
Jeffrey A. Hirsch heads the Los Angeles Metro Division of Time Warner Cable as it becomes the major cable service provider in Los Angeles.
Are Microsoft's very deep pockets enough to bring one of the video game industry's most popular games to the big screen?
Technology companies, especially those involving the Internet, were a major share of the venture capital funding deals in L.A. during the third quarter.
Thursday, October 26
The median price of a new home plunged in September by the largest amount in more than 35 years, even as the pace of sales rebounded for a second month.
The Family that built Clear Channel Communications is in negotiations to be taken private.
Keystone Automotive Industries Inc. posted record profits and revenues in the second quarter, bolstered by increased sales in what is a traditionally slow season.
Gemstar-TV Guide International Inc. said Thursday that it has signed a licensing agreement with Tokyo-based Panasonic Corp.
A group of educators, business leaders and philanthropists is pushing a $50 annual tax on every parcel of property in the state to be allocated to California schools.
Warner Music Group Corp. said Thursday that it will offer its catalog of music videos to users of Brightcove, a Web TV service.
Shoe maker K-Swiss saw its third quarter profit shrink slightly, but an ambitious outlook for the fourth quarter sent shares surging more than 17 percent.
With the possibility of an NFL deal fading, Coliseum and USC officials have launched negotiations aimed at securing the school's future role at the stadium.
Wednesday, October 25
Ihop Corp. reported third quarter net income of $11.3 million (62 cents per share), a 6 percent dip from $12 million (62 cents) for the same period a year earlier. Analysts polled by Thomson Financial expected earnings of 58 cents on revenue of $91 millio
Skechers has rosy outlook on the fourth quarter after seeing third quarter profit surge on strong back-to-school sales.
The Federal Reserve kept interest rates unchanged on Wednesday for a third consecutive meeting, hoping that a slowing economy will dampen a worrisome rise in inflation.
Univision Radio said Wednesday that its Spanish-language radio stations KLVE and KSCA are No. 1 and No. 2 in the Los Angeles radio market, according to the Summer 2006 Arbitron book.
Live Nation said Wednesday that it has signed an agreement to bring Broadway productions to St. Petersburg, Fla. stating in October of next year.
Tetra Tech Inc. said Wednesday that it has signed a contract with the U.S. Environmental Protection Agency worth an estimated $15 million.
One of Hollywood's top five talent agencies has created an online unit devoted to scouting out up-and-coming creators of Internet content.
Sales of existing homes fell for a sixth straight month in September and the median sales price dropped on an annual basis by the largest amount on record.
Tuesday, October 24
Diodes Inc. said Tuesday that it has agreed to purchase Redwood City-based APD Semiconductor for about $8 million.
FirstFed Financial Corp. reported third quarter net income of $32 million ($1.90 per share) up 28 percent from $23 million ($1.38) for the same period a year earlier.
Federal Reserve policymakers are likely to keep their finger on the interest-rate pause button.
Countrywide Financial Corp. reported a third-quarter profit but is bracing for a bumpy ride, announcing it plans to cut 2,500 as part of a cost-cutting measure.
Megan Forsythe Barnett, a vice president of corporate human resources for Walt Disney Co. has died from complications due to an aortic dissection. She was 47.
Fox said that it will show the season premiere of its hit teen drama "The O.C." on MySpace.com a week before the program airs on TV.
Depending on whom you ask, the winds may already be shifting for the housing market.
Time Warner Inc.'s Turner cable and Walt Disney Co'.s ESPN have joined the ranks of cable networks that won't participate in a new commercial-ratings system from Nielsen Media Research.
Despite legal charges and lingering hurricane damage, Northrop Grumman Corp., reported a third quarter profit and saw revenue gains.
Syntax-Brillian Corp., a leading manufacturer and marketer of flat-panel TVs, today will open what is believed to be the nation s first high-definition, flat-panel manufacturing facility in Ontario.
The number of venture capital deals in Los Angeles County hit a five-year high during the third quarter, according to a report to be released Tuesday.
Avery Dennison Corp. reported third quarter net income of $85 million (85 cents per share) a slight dip from $86.2 million (86 cents) for the same period a year earlier.
Monday, October 23
Jakks Pacific Inc. reported third quarter net income last week that dusted Wall Street expectations, thanks in part to strong sales of three new toys.
A strong regional economy, rising rents and falling vacancy rates encouraged investors to continue digging into Los Angeles County's commercial real estate in the third quarter, with several landmark properties changing hands.
The Inland Empire remained busy last quarter, with 9.5 million square feet of sales and lease activity absorbing a net 7.2 million square feet of space.
Michael S. Dell, the computer maven, has a new landscaping company.
The Wilshire Corridor is getting pricey. Average asking rates for Class A office space from Miracle Mile to Mid-Wilshire began rising in late 2003 on shrinking vacancy rates and have hit $2.35 per square foot.
When a suite owner arrived at Staples Center in the past, he faced two possible problems: A locked door or an unlocked door.
It was an all-too-brief time in the sun: for 20 years following World War II, the Crenshaw community in South-Central Los Angeles was a center of commerce, culture and perhaps the leading example of multi-ethnic co-existence in Los Angeles.
Ming Hsieh has donated $35 million to the University of Southern California Viterbi School of Engineering, the school said Monday.
In the largest initial public offering of a domestic real estate investment trust, Douglas Emmett Inc. of Santa Monica on Monday sold $1.39 billion worth of its shares.
Jimar Wilson was in the market for a home earlier this year and could think of one place he really wanted to live the Crenshaw Corridor, near where he spent his childhood years.
As skill games go which means games not of chance but of skill or talent a couple of Los Angeles companies are finding unique, or perhaps "skillful," ways to tap into that growing multi-billion-dollar market.
L.A.'s auto industry is dead. Right? After all, the last car rolled off a local assembly line 15 years ago.
Target Corp.'s goal of offering its bargain-conscious customers the latest runway looks is running afoul of those who charge designer prices for the real thing.
How much merchandise could Tony Hawk hawk if Tony Hawk hawked merchandise for two marketers at once? We'll soon find out.
The San Fernando Valley office market remained one of the tightest in all of L.A. County in the third quarter. Supply lagged well behind demand, and tenant improvement costs continued to soar, egging on landlord confidence.
Private-equity firms are wading into the auction for Tribune Co. and likely stand the best hope for a company trying to sell itself amid weak financial results, an uncertain future and a divided board of directors.
Shaul Kuba is a principal and founder of CIM Group Inc., a savvy development company that has played a big role in Hollywood's renaissance. Now, CIM has set its sights on the Crenshaw Corridor, where it is co-developing parcels owned by the West Angeles C
Dressed like a princess and lit from within, the latest incarnation of Mattel Inc.'s icon Barbie is ready to kick those cheeky Bratz in their designer denim-clad fannies.
Hollywood's digerati are ready for their close up at least if the latest Digital Hollywood conference is any measure.
The Los Angeles lifestyle means a lot of time in traffic, and for Westwood One Inc., that means a lot of money.
Commercial activity continued to increase in the South Bay's historically weak office market during the third quarter. Mounting container volume at the ports kept industrial vacancies low.
Lions Gate Entertainment Corp.'s yearlong takeover hunt for Image Entertainment Inc. came to an end with a whimper last week though the long-term pursuit may not be over.
Justin McGilvery and Tom Taglang know firsthand that their BodySpex body fat scale can help people meet their fitness and health goals.
IHOP Corp. said Monday that it has ramped up its expansion efforts by securing franchise agreements that could open nearly 500 new restaurants.
Commercial office experts in the Tri-Cities were asking the same thing in the third quarter: What the heck is going on in Glendale?
When Jon Alston dropped his traditional sports agent last April, he opted to sign up a representative that is far less traditional for a linebacker: a Beverly Hills talent agency.
It was a landlord's market in Hollywood and West Hollywood again last quarter as Class A office rents continued to climb with new product still years away.
When developer Robert Maguire announced plans for a 50-story office building in downtown Los Angeles, civic leaders and the real estate industry lauded the plan for the first new skyscraper in the area in over 14 years.
The Cheesecake Factory Inc. said Monday that it is delaying the release of its third-quarter financial results due to a probe of its stock-option grants.
David Lizarraga took over a struggling non-profit and has since turned TELACU into a self-sufficient redevelopment and social service institution.
Los Angeles biomedical entrepreneur Alfred Mann has finally gotten a second major research university to sign on to his vision of creating a life sciences/biomedical engineering research institute that takes a more focused approach to commercializing acad
Zenith National Insurance Corp. reported third quarter net income of $72.2 million ($1.94 per share) a 76 percent jump from $23 million (63 cents) for the same period a year earlier.
After a slow first half of the year, investment transactions in the downtown area rebounded energetically in the third quarter, with six buildings changing hands and the promise of at least two more going on the block
Nearly two decades ago, Orv Madden saw pale, pierced, teenage mall rats wearing ratty clothes, black makeup and plastic accessories and he was inspired.
If entertainment and digital convergence hasn't gotten enough exposure, it will soon. Live Nation Inc. is putting on an event that's part gaming expo, park rock tour.
Amgen Inc. on Monday reported higher third-quarter earnings that were fueled by double-digit increases in sales of its anemia drugs.
It's Warren Buffett's stealth presence in L.A, and like virtually everything else he touches, it's been doing remarkably well.
Given the rising costs for office acreage and what landlords were paying for tenant improvements, experts said it was "no surprise" North County rental rates stayed on a sharp upward spiral in the third quarter.
Despite all the talk about how the Internet is replacing traditional media, people still want their news validated by brand-name journalism. Two new studies show that both general consumers and online leaders trust TV, radio and print outlets more than ne
The Westside still boasted the loftiest asking rates in Los Angeles County in the third quarter, fueled by strong fundamentals and some of the lowest vacancies in the 4,084-square-mile region.
Sales and leasing activity in L.A.'s various neighborhoods for the third quarter.
A jewelry company and its customers hip-hop artists and football stars are trying to provide donations to at least a dozen charities in the country.
The Crenshaw Corridor during the 1950s and 1960s was a multi-ethnic community, but also the cultural and economic center of African American life in Los Angeles.
Friday, October 20
East West Bancorp Inc. reported third quarter net income of $35.6 million (58 cents per share) up 20 percent from $28.6 million (52 cents) for the same period a year earlier.
Jakks Pacific Inc. said Friday that it has renewed a licensing agreement with Nickelodeon and Viacom Consumer Products.
Paula Financial said Friday that it will request to be delisted from the Nasdaq Capital Market because it was costing too much to listed as a public company.
Options backdating may have spread like a virus , from personal contact between corporate directors.
Unemployment in Los Angeles County dropped to 4.8 percent in September, reversing a fourth-month cycle of rising or stagnant labor market conditions.
Avery Dennison Corp. said Thursday that the Justice Department has closed its investigation into alleged price-fixing in the label stock industry and no action will be taken against the company.
The biomedical and biotech industry is a top provider of jobs in California, but that leadership could soften, according to a report released Thursday.
Thursday, October 19
Beverly Hills-based Hilton Hotels Corp. plans to sell two of its U.K. properties, the Hilton London Metropole and Hilton Birmingham Metropole, for $780 million to reduce debt.
Three of the four largest music companies obtained a stake in YouTube before the video Web site agreed to be sold to Google Inc. for $1.67 billion, according to reports.
Los Angeles Times parent Tribune Co. reported sharply higher third-quarter earnings due to a one-time gain, but sluggish advertising sales resulted in lower revenues compared to a year ago.
Immigrant workers are sending more money than ever to their families in Latin America, but new studies show that only a small portion has gone to economic development.
NBC Universal is slashing its news budget and abandoning high-cost dramas, as viewers and advertisers flock to new kinds of media.
Online job demand in Los Angeles County rebounded in September as openings for technical, healthcare and security professionals rose, according to a survey released Thursday.
Xencor, which develops protein and antibody therapeutics, has raised $45 million in a private financing led by two large drug companies that see potential for their own pipelines in the Monrovia company's technology.
Dialysis care group Fresenius Medical Care has entered into a five-year supply agreement with Amgen Inc. that one analyst says could shore up sales of Amgen's anemia drugs Epogen and Aranesp.
Wednesday, October 18
Occidental Petroleum Corp. said third-quarter net income fell 33 percent in the absence of a one-time gain for the same period a year ago.
Cheaper energy helped pull overall U.S. consumer prices down steeply in September and new-home building unexpectedly rebounded, according to new government data.
Cathay General Bancorp said it has completed its acquisition of Chicago-based New Asia Bancorp, Inc. for $23.46 million in cash and stock.
Homebuilder Ryland Group Inc. said after the market close that third-quarter net income fell 26 percent as sales incentives reduced earnings, but the financials still beat analyst estimates.
Elderly and disabled Social Security beneficiaries will receive a cost-of-living increase next year of 3.3 percent, or $33 a month, for the average recipient, the government announced.
Northrop Grumman Corp. said it plans to bid for a contract to develop the U.S. Navy's newest maritime surveillance program, and separately announced it had been awarded three contracts with a combined value of $52.4 million.
Time Warner Inc.'s cable unit has filed for an initial public offering that may raise as much as $6.9 billion and for the first time give investors a stake in the nation's second largest cable television provider.
Shares of Jakks Pacific Inc. saw their biggest gain in six years on Thursday as the maker of World Wrestling Entertainment Inc. action figures reported higher-than-expected quarterly profit and reiterated its full-year forecast.
East West Bancorp Inc. reported 24 percent growth in third-quarter net income on solid loan development, and raised its 2006 profit forecast.
Tuesday, October 17
Teledyne Technologies Inc. said Tuesday that it has signed a $370 million contract to provide support, parts and electronic assemblies for several Air Force airframes.
Real estate developer J.H. Snyder Co. has plans to build what would be the only office campus in Hollywood on a 3.8 parcel it has purchased from Technicolor Inc.
Developer Robert Maguire is planning to build a high-rise office building in downtown Los Angeles costing an estimated $300 million marking the first major addition to the city's skyline in 14 years.
Debra Wong Yang, the U.S. Attorney in Los Angeles, has resigned her post and will join Gibson, Dunn & Crutcher as a partner at the beginning of the year.
Hybrid and economy-class vehicles built by Toyota Motor Corp. and Honda Motor Co. dominate the government's top-10 fuel economy list for 2007 vehicles.
After signing legislation to cap greenhouse gas emissions in California, Gov. Arnold Schwarzenegger announced Monday in New York that his administration will work with at least eight Eastern states to enable businesses to trade pollution credits thousands
The Los Angeles County Board of Supervisors has approved a plan to keep open troubled Martin Luther King Jr./Drew Medical Center by merging its management with the stronger Harbor-UCLA Medical Center.
New orders in California's manufacturing sector slowed during the third quarter, contributing to a slowdown in the sector, according to a survey of purchasing managers in California.
Jacobs Engineering Group Inc. said Tuesday that it received two new contracts and renewed a task order .
Monday, October 16
It may be lonely at the top, but don't worry -- you probably won't be there very long, new research shows.
Health Net Inc. upgraded its outlook for third-quarter earnings on Monday, and announced that Chief Financial Officer Anthony Piszel is leaving to become CFO of Freddie Mac.
Highland LLC's Jamarama Live is like the Lollapalooza rock tour, except the target audience includes kids as young as 2.
A Los Angeles ordinance mandating that hotels along Century Boulevard near Los Angeles International Airport pay their workers the city's living wage moved a step closer to reality.
Wendy's International Inc. cut its losses last week by selling the fast-casual Baja Fresh chain to a consortium of investment groups at a big loss.
Spanish-language newspaper Hoy became part of a scandal in the publishing industry in 2004 when advertisers filed a suit claiming the paper had inflated its circulation figures.
Data released Monday by FilmL.A. shows that feature film production in the Los Angeles region dropped 5 percent in the third quarter compared to a year ago.
One year after legislation made it more difficult for consumers to discharge their debts through bankruptcy, the impact has spread to the business sector with fewer Los Angeles County companies filing for bankruptcy.
Half of the L.A.-area companies under investigation for backdating options have seen double-digit growth in their stock price since being thrown into the m & #281;l & #233;e.
Charles Crumpley still believes that Americans are basically honest, but one day our willingness to cut corners may lead him to change his mind.
Computer Sciences Corp. said Monday that it has signed an information technology outsourcing contract with the U.K's largest hospitality company.
Broad marketing strategies are becoming de rigueur and something of a financial imperative for designers who want to feature their wares at L.A.'s Fashion Week.
The World Fighting Alliance is a local outfit that's trying to set itself up as a competitor to the Las Vegas-based Ultimate Fighting Championship.
John Paul DeJoria keeps the spirit of Paul Mitchell alive in the company they founded in 1980.
Two terms for councilmembers isn't enough to deal with complex issues, according to Proposition R proponents Gary Toebben of the L.A. Area Chamber of Commerce and Liza White of the League of Women Voters of Los Angeles.
Health Care Properties Inc.
International Rectifier Corp. has moved from the basic electronics of the 1940s to today's semiconductor chips that make computers and household appliances more energy efficient.
A wave of French bistros has arrived on the scene in the last year or so and a number of boutique hotels feature them as well.
The operator of the World Poker Tour issued a strangely optimistic statement in the wake of online gambling limits recently signed into law by President Bush.
UnitedHealth Group Inc.'s announcement Sunday that general counsel would step down highlights the impact of the stock-options backdating scandal on in-house lawyers.
Trust us. It wasn't OPEC or Republicans trying to influence midterm elections.
Shanteque at Le Meridien Hotel in Beverly Hills is marketing its luxury plastic surgery retreats in its 12 specially designed post-surgery recovery rooms.
Mattel Inc. reported solid third quarter numbers helped by stronger-than-expected Elmo sales and rejuvenated sales in the company's Barbie toy lines.
Mayor Antonio Villaraigosa made fashion news on his Asian mission, opening the first "Made in L.A." clothing section in a department store in Shanghai.
Walt Disney Co. said Monday that it is introducing new food guidelines for all foods and promotions licensed by Disney.
Nestl & #233; USA said it will keep its headquarters in Glendale until at least to 2015.
Ralphs Grocery Co. said Monday that it entered guilty pleas to five federal criminal counts stemming from its effort to illegally hire locked out union workers during the 2003-2004 labor dispute that created turmoil in Los Angeles' supermarket sector.
Andy Stern, president of the Service Employees International Union, brings an unconventional approach to employee-employer relations.
Next year, things are going to be different at entertainment and litigation law firm Alschuler Grossman Stein & Kahan LLP.
Several L.A. County firms have made Deloitte & Touche USA's list of fastest-growing Southern California tech firms.
Exaktime Inc. makes time clocks sturdy enough to withstand use at construction sites.
Proposition R would weaken the city's ethics laws, writes opponent Jeff Jacobberger of NotPropR.
To expedite approval of a Century City condominium project, Related Cos. has worked out a settlement with homeowners groups that could be unprecedented in Los Angeles: The associations could get an equity share of a future development.
Friday, October 13
The founder of Tower Records says he's "busy as hell" finding investors and putting together a small, one- or two-store retail music business following last week's sale of the legendary retailer to a liquidator.
Oil prices rose above $59 a barrel Friday after Norway ordered production shut down at two offshore platforms, reducing flows by about 10 percent from the world's third-largest oil exporter.
Safeway Inc. reported third quarter net income Thursday of $173.5 million (39 cents per share), up 29 percent from $123 million (27 cents) for the same period a year earlier.
Consumers headed back to clothing, furniture and department stores in September, but not in great enough numbers to offset a record decline in gasoline sales.
The Los Angeles Board of Education unanimously selected retired Navy Vice Adm. David Brewer to be the next superintendent late Thursday, drawing criticism from Mayor Antonio Villaraigosa.
Former Homestore Inc. Chief Executive Stuart Wolff was sentenced to 15 years in prison for heading up a $67 million fraud at the online home-listings company.
Thursday, October 12
The investment firm owned by Microsoft Inc. co-founder Paul Allen said Wednesday that it is planning on exercising an option to sell its shares in Dreamworks Animation SKG Inc. in a secondary public offering.
The U.S. trade deficit unexpectedly rose to a record in August, inflated by high oil prices and American demand for all types of imports.
Wendy's International Inc. said Thursday that it has found a buyer for its struggling Baja Fresh Mexican Grill chain.
Los Angeles World Airports, the city's governing body of the four local airports, said Thursday that JCDecaux SA has been awarded a 10-year concession advertising contract for LAX and Ontario airports.
CB Richard Ellis Group Inc. said Thursday that its addition to the Standard & Poor's 500 Index will be delayed.
Northrop Grumman Corp. said Thursday that it has been awarded an order to supply the Federal Aviation Administration with anti-missile systems for the agency's aircraft.
Liberty Media Corp. said Thursday that it is open to a swap for its stake in News Corp. for the New York media company's controlling interest in DirecTV Group Inc.
Wednesday, October 11
A Los Angeles ordinance mandating that hotels along Century Boulevard near LAX pay their workers the city's living wage passes a City Council committee.
News Corp. is seeking to expand the relationship between MySpace.com and search engine Google Inc.
The nation's largest oil field and the trans-Alaska oil pipeline were shut down Tuesday after poor weather at both ends of the 800-mile pipeline caused havoc, the Ventura County Star reports.
Results from Tuesday's vote by Image Entertainment Inc. shareholders on whether to replace its board with a slate of directors backed by Lion's Gate Entertainment Corp. are expected to be available next week.
Countrywide Financial Corp. reported a dip in its September operational results Wednesday, but saw its mortgage servicing business surge.
California lettuce recalled over E. coli fears tested negative for a sometimes deadly strain of the bacteria, company officials said Tuesday.
Two technology companies, McAfee Inc. and CNET Networks Inc., announced the departure of their top executives, as the fallout from stock-options backdating probes continued to spread.
Tuesday, October 10
SuperValu Inc. said Tuesday that its earnings nearly quadrupled for the second quarter, thanks in large part to its acquisition of Albertson's grocery stores.
Bouyed by the acquisition of Albertson's stores, Supervalu Inc. sees second quarter profits surge.
Cherokee Inc. declared a quarterly dividend of 60 cents per share to be paid on or about December 15 to shareholders of record on December 1, 2006.
Blue Holdings Inc. said that it has decided to terminate a proposed agreement to acquire Washington D.C.-based clothing retailer Long Rap Inc.
OSI Systems, Inc. said Tuesday that Rapiscan Systems, a subsidiary of the Hawthorne-based company, received $13.2 million in contract orders from the Transportation Security Administration.
Where will the housing market in Los Angeles, Chicago or New York or Miami be next year? Niels Bohr take on predictions is as true as ever.
KB Home said Tuesday that it improperly accounted for stock option grants to Chief Executive Bruce Karatz and may need to restate previous earnings.
Monday, October 9
Reliance Steel & Aluminum Co. has seen its stock slide the consequence of changes in the global market.
Scott Mitchell Rosenberg sees a bright future in digital entertainment and is acting on that prediction.
A Los Angeles judge dismissed a legal challenge last week regarding News Corp.'s purchase of MySpace.com.
Joey Behrstock, a life insurance specialist at Gilbert-Krupin, attended a Jewish Big Brothers Big Sisters of Los Angeles golf tournament about five years ago. When he asked what he could do to help, someone said: "The best thing you can do is become a big
It has become clear that ethanol and biofuels are no longer the pie-in-the-sky pipe dreams of environmentalists.
Warner Music Group Corp. said they have signed a deal with Google Inc. to allow users the ability to stream on-demand music videos from the popular search engine.
Who's who profiles in L.A.-area ethnic banking.
A yearlong battle over control of Image Entertainment Inc. culminates this week when shareholders decide if they vote for directors backed by Lions Gate Entertainment Corp.
Pacific Health Advantage's announcement that it would discontinue offering health insurance coverage by the end of the year was a blow to 6,200 small businesses in the state.
Airbus Chief Executive Christian Streiff resigned and will be succeeded temporarily by a top official from European Aeronautic Defence & Space Co., the parent of Airbus.
House prices still haven't fallen, and that could be additional evidence to bolster the theory of a soft landing in the real estate market.
So far this year, the Los Angeles legal market has been rife with mid-market mergers and intense competition for talented partners with million-dollar client lists.
The final two perpetrators of the Fleishman-Hillard bogus billing case had a sentencing hearing in a Los Angeles court last week.
Hilton Hotels Corp. said Monday that it has reached a tentative agreement with Unite HERE on a new contract covering 1,550 employees at the Hilton Hawaiian Village Beach Resort & Spa.
Ethnic banks, often organized by local civic and business leaders, can be crucial to immigrants working toward their American dream.
Business news from across the Los Angeles area.
After two days of speculation a federal bankruptcy judge late Friday approved the sale of Tower Records to Woodland Hills-based Great American Group, which said it plans to liquidate the music retailer.
General Motors Corp. could face a proxy fight with billionaire investor Kirk Kerkorian after the ailing motor company rejected a possible alliance.
The biggest challenge in starting an ethnic bank often involves a balancing act between targeting a community while respecting requirements to serve all comers.
Directors need more training because of today's contentious environment for companies, attorney Daniel Petrocelli says.
What does the ouster of Jeff Johnson mean for the future of the Los Angeles Times?
A week after the Food and Drug Administration lifted its warning on spinach grown in the Salinas Valley, lettuce grown there was recalled over concerns about E. coli.
Some edgy commercials for a newly launched blackjack TV series have proven too much of a gamble for some major broadcast networks.
Mossimo Inc. said Monday that it has a new license agreement with South American department store chain Falabella.
Midwestern mothers, meet Madison Avenue.
Big four accountants are ready to see which firm can raise the most for this year's AIDS Walk.
Hoopnotica studios in L.A. and Orange counties use the hula-hoop to help students firm up their abdominal muscles and get in shape.
From the Boeing Co. Education Center to the Wolfgang Puck Caf & #233; at the End of the Universe, corporate logos will be prevalent at the reopening of the Griffith Observatory.
Linda Li is the only female physician on the popular Beverly Hills-based reality show about plastic surgery, "Dr. 90210."
The proportion of visitors to MySpace.com who are 12 to 17 years old has shrunk by nearly half since last year.
As the Dodgers battled the Mets, few were pulling harder for the home team than the executives at RazorGator Interactive Group, an online ticket broker that stood to make big profits if L.A.'s season continued.
Mintie Technologies Inc. keeps environments pristine when there's concern of disease in hospitals and the possibility of a terrorist biological attack.
iMedia International Inc. announced the creation of a newspaper network to distribute interactive multimedia content.
Friday, October 6
Trio-Tech International said Friday that it has received three orders for burn-in systems, equipment used to test the heat reliability of circuits and microchips, worth $3.6 million.
Crown Media Holdings Inc. said late Thursday that it has sold the domestic rights to its film library to RHI Enterprises LLC. for $160 million.
Health Net Inc. said Friday that it plans next year to expand its Medicare Part D prescription drug plan to all 50 states and the District of Columbia.
With the collapse of his bid to push General Motors Corp. into an alliance with two foreign automakers, Kirk Kerkorian has yet to reap a windfall on his investment in the automaker, which analysts said could drive him to seek ways to further lift the stoc
The Tower Records bankruptcy auction continued Friday, without word on the fate of the legendary West Sacramento music retailer.
Kevin Sharer, chairman and chief executive of Thousand Oaks-based biotech giant Amgen Inc., was elected to the USC Board of Trustees this week, the university announced Friday.
Metro-Goldwyn-Mayer Studios Inc. said Friday that it has partnered with New Line Television, a division of Time Warner Inc., to handle New Line's U.S. domestic distribution for syndication and series programming. The deal is for two years.
Mayor Antonio Villaraigosa is in the midst of a 16-day swing through China, Japan and South Korea to promote Los Angeles.
Shares of Guitar Center Inc. fell nearly 8 percent after the company lowered its earnings estimate for the third quarter.
Raytheon Co. will close its civil space operation near Santa Barbara by early 2008 and transfer the work to El Segundo, the company said Thursday.
NetSol Technologies Inc. said Friday that as part of a strategic growth initiative and corporate reorganization, current Chairman Najeeb Ghauri will replace his brother, Naeem U. Ghaurias, chief executive of the company.
El Segundo has been named the most business-friendly city in L.A. County.
Kirk Kerkorian said Friday that his aide Jerome York resigned from General Motors Corp.'s board and announced he wouldn't buy any additional shares in the troubled automaker's stock.
Thursday, October 5
Wall Street reacted favorably as Guess? Inc. recorded double-digit increases in same-store and overall sales.
LTC Properties Inc. declared a monthly cash dividend of 12 cents a share for the fourth quarter of 2006.
The Tribune Co. forced out Los Angeles Times Publisher Jeffrey M. Johnson Thursday morning, a little more than a month after he defied the media conglomerate's demands for staff cuts that he suggested could damage the newspaper.
Home buyers have another reason to sit on their hands; study predicts sharp declines in 20 metro markets.
Health Care Property Investors Inc. closed its purchase of a Florida health care real estate investment trust that transforms the company into the nation's largest public REIT specializing in health care properties.
Pasadena-based Jacobs Engineering Group Inc. said Thursday that it has acquired engineering consulting firm W.H. Linder & Associates Inc.
California's attorney general said Silicon Valley giant Hewlett-Packard Co. had "lost its way" e as he filed charges against Dunn and four others.
MySpace founder says he has "proof" that investors were defrauded of $20 billion and calls the sale of the Web site to News Corp. "one of the largest merger and acquisition scandals in U.S. history."
Jeffrey Johnson was forced out as the publisher of the Los Angeles Times Thursday morning.
In less than two years, driving while using a cell phone will be illegal. But drivers and cell phone equipment makers say they'll be ready.
The latest study on executive compensation shows stock options play bnig role in CEO pay boosts.
1st Century Bank, said Thursday that its board has named Randall Hata acting chief financial officer.
Wednesday, October 4
L.A. workers aren't too confident about their job prospects, according to the latest Hudson Employment Index.
State environmental regulators are reporting that Exxon Mobil Corp. had an equipment failure resulting in the release of hazardous material at its Torrance refinery.
Housing prices, slumping after a five-year boom, are projected to decline in more than 100 of the nation's metropolitan areas, with the Northeast, Florida and California among the areas hardest hit.
The Houston firm buys the 800,000-square-foot LNR Warner Center complex for $300 million from RREEF North America.
Crown Media Holdings Inc. said on Wednesday that it has appointed Henry Schleiff as president and chief executive of the media company.
The Sabine River channel, where alligators and speckled trout live alongside petrochemical plants and oil refineries, has suddenly become the center of a quiet revolution in the world of natural gas.
Government investigators have found the same virulent strain of E. coli that has sickened nearly 200 people around the nation in cattle manure on pastureland adjacent to two Salinas-area spinach fields, officials announced Tuesday
The Beverly Hilton Hotel has a new labor contract that gives a 20 percent wage increase over three years for housekeepers and smaller increases for other employees.
Image Entertainment Inc. said Wednesday it has signed a multi-year home video license agreement with Discovery Commerce, the retail and licensing division of Discovery Communications Inc.
Tuesday, October 3
Computer Sciences Corp. said on Tuesday that it has appointed a new head of its India operations.
After missing out on two large non-defense jobs from the government in the past month, Northrop Grumman Corp. said Tuesday that it has received a $750 million Department of Homeland Security contract as well as a $79 million contract from the U.S. Army.
Material Technologies Inc. said that it has received its first contract for testing the structural integrity of three bridges in Pennsylvania.
The Los Angeles County Board of Supervisors on Tuesday approved a tentative plan to keep open troubled Martin Luther King Jr./Drew Medical Center and its badly needed emergency room, deciding against turning the facility over to a private hospital corpora
The iconic Griffith Observatory, closed for nearly five years for a $93 million expansion renovation, will reopen on Nov. 3, L.A. city officials announced Tuesday.
Many of the world's steelmakers are expressing growing concern about global oversupply and increasing exports from China, the world's largest steel producer and consumer, and warning Chinese producers to rein in their production.
More than 200 times each day, authorities detect radiation in containers arriving off cargo ships at Port Newark. It's in ceramic tiles, granite, pottery, kitty litter - all natural products made from Earth's elements.
Gasoline prices continued their two-month slide this week, dropping another eight cents a gallon in the Los Angeles area for the week ending Oct. 2, according to the Energy Information Administration.
Napster Inc. said Tuesday that its digital music service is now available in Japan.
Homeowners in every state but one spent more of their incomes on housing costs last year than at the start of the decade, according to data released Tuesday by the Census Bureau. Those in Alaska spent the same.
Cadiz Inc said on Tuesday that it has appointed Winston Hickox to its board of directors.
After missing out on two large non-defense contracts from the government in the past month, Northrop Grumman Corp. said Tuesday that it has received a $79 million contract from the U.S. Army.
Monday, October 2
Gas prices may be heading south, but it's too little, too late for many commuters who have already changed their driving habits for good.
Booble promises to deliver relevant search results while screening against the viruses, spyware, credit card scams, and pop-up ads so prevalent on adult sites.
Guess Inc.; Trans Fat news; Frozen yogurt
Business news across the Los Angeles area.
Karl Pan, CFO at Los Angeles World Airports.
Capital Records; Hanna-Barbera; HKS Architects; Shaquille O'Neal
Peace may be breaking out in the copyright infringement war between viral video giant YouTube Inc. and the major music companies whose tunes are appropriated to provide soundtracks for many of the site's clips.
With the November ballot shaping up as one of the most important in years for businesses, local companies have ponied up millions of dollars for a range of initiatives.
It's a clash of the titans: Oil companies have put up most of the $51 million to defeat an oil tax, while Hollywood producer Stephen Bing has put up $40 million in support of Proposition 87.
The nation's manufacturing sector expanded at the slowest pace in over a year in September amid weaker U.S. auto sales and a slumping housing market.
Image Entertainment Inc. sent a letter to its investors Monday urging shareholders to re-elect its entire board and reject the nominees of Lion's Gate Entertainment Corp. saying the film company's hostile bid is hurting Image's performance.
Acquisitions were few in August, but insiders say the pipelines are full.
City Attorney Rocky Delgadillo explains that abolishing the business tax will lead to increased revenues as more businesses will open and choose to stay in L.A.
The film version of the classic child's tale " Curious George" proved a pleasant surprise for Universal Studios this summer. The film grossed more than $58 million domestically.
Tag-It Pacific Inc. may be on the brink of a comeback after a series of serious problems.
In recent months, business owners say, the homeless population has spread to areas outside the borders of Skid Row.
Disney's decision to pull the plug on its much-hyped Mobile ESPN cellular will cost the company $30 million, Chief Financial Officer Thomas Staggs said Monday.
Ed Kaminsky is the head of SportStar Relocation, which helps players find homes after they have been traded or drafted.
The hike in minimum wage may hurt the working poor more than it will help them, according to Adam Summers of the Reason Foundation.
Forbes Forum; Deloitte & Touche Fast 50; MRV Communications
The Kings face the mammoth task of turning a sporadically successful hockey franchise into a playoff team.
Amgen Inc.; White Memorial; King/Drew
Dixon Sports Computing uses a high-tech software system to produce game highlights for nightly newscasts and reels used as coaching tools.
Burbank-based CenterStaging Corp., which owns a massive sound stage and rehearsal studio campus near the Burbank airport, has teamed with Major League Baseball Inc. to promote Rehearsals.com.
Charles Crumpley says the call to eliminate L.A.'s business tax should be taken seriously.
Southwest Water Company said Monday that it has renewed its water, wastewater and public works operations contracts for the city of Gulfport, Mississippi.
Hogan & Hartson; Latham & Watkins; Kirkpatrick & Lockhart; Preston Gates
Disney's film studio dominated the summer box office, ABC and ESPN boast splashy TV hits, the theme parks weathered the gas pinch pretty well and the consumer products unit is riding a high-tech wave.
Anyone wishing to buy the Los Angeles Times should get ready to spend at least $2.2 billion. But the current owner probably won't sell, according to an analyst's report.
Interactive Video Technologies is taking the virtual business meeting to the next plane, and building a blue-chip list of global clients in the process.
Southern California's aerospace sector has shaken off the collapse of the early 1990s and is now in healthy shape.
Jeff Seabold learned the real estate trade at Countrywide; now he's introducing property financing to Mexico.
Northrop Grumman Corp. is expanding its presence in Colorado, breaking ground Tuesday on the first building of a new campus in Colorado Springs.
Trio-Tech International, a component testing company, has seen its stock nearly double recently.