The Los Angeles Business Journal's index of the 200 largest local public companies closed down for the week ended Nov. 21, with Friday's recovery in the overall markets not enough to erase losses earlier in the week.
The local index closed down 17 percent to $80.67 Friday compared to a week ago, with decliners outpacing gainers 167 to 21.
Thomas Properties Group Inc. fell 57 percent to $2.10. The Los Angeles real estate investment trust went to bankruptcy court to compel Lehman Brothers Holdings to honor its obligation to fund a $100 million revolving credit facility for its affiliate in Austin, Texas.
Macerich Co. fell 49 percent to $10.73. The Santa Monica-based shopping mall developer was hurt by a disappointing earnings report and expectations of weak consumer spending this holiday season.
Among the few gainers during the week was Image Entertainment Inc., which jumped 124 percent to $1.68. The Chatsworth home-entertainment distributor agreed to sell itself to Nyx Acquisitions Inc. for approximately $60.2 million in cash plus assumption of debt.
General Finance Corp. rose 32 percent to $2.50. The Pasadena-based portable storage container company reported strong first quarter earnings.
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