Theaters Want ID From Kids
Prompted by concerns about the marketing of violent movies to children, the nation’s largest theater owners said they would seek to require young moviegoers to show photo identification at R-rated films.
With President Clinton in attendance, a set of guidelines was announced in Washington, D.C. by the National Association of Theater Owners, a North Hollywood-based group that represents about two-thirds of the motion picture screens in the nation.
The plan, a recommendation rather than a requirement for NATO’s 20,000 member theaters, came just a week after the U.S. Justice Department and Federal Trade Commission launched an investigation into whether entertainment companies improperly market violent fare to children.
Along with having young moviegoers show identification, the effort by theater owners calls for displaying posters outlining age restrictions and launching community education programs to help parents decide which movies are appropriate for children.
United Adding Flights
United Airlines said it plans to add 30 daily nonstop flights from Los Angeles International Airport, its newest hub, an increase of 16 percent.
United said the increase partly reflects core demand in L.A., and is also part of a reallocation of airplanes to the domestic market from the Pacific region, where business is soft.
Officials said the move comes in response to increased competition from American Airlines, which has acquired Reno Air and made other moves to beef up its presence in the Western U.S. United, which controls 31 percent of the passenger traffic at LAX, plans to launch three daily flights to Dallas and Houston and add daily trips to other destinations.
Meanwhile, an announcement that United was cutting summer fares sparked a number of fare reductions by competing airlines that averaged about 25 percent.
MTA Funds Blue Line
The Metropolitan Transportation Authority board gave the go-ahead to construction of the Pasadena Blue Line extension despite concerns about whether the agency now overseeing the project can finish it with the funds available.
The MTA board approved the transfer of $68.7 million in transit sales tax money to the Pasadena Metro Blue Line Construction Authority to resume work on the stalled 13.7-mile light-rail line from Union Station to Pasadena.
But the board did insist on clamping some controls on remaining county contributions. Recalling excessive spending when the MTA was spearheading the project, the board prohibited any future allocation of local money for public relations or lobbying activities.
The California Transportation Commission also approved the transfer of authority to the new agency despite pleas from the Bus Riders Union. That group is seeking major improvements to MTA bus service before the state invests $280 million in the Pasadena rail line.
Lockheed Leaving Pomona
Lockheed Martin Information Systems will close its training and simulation facility in Pomona early next year as part of a move to consolidate some of its operations in Florida.
The move was attributed to a declining number of work orders at the site, which develops and tests a variety of weapons, mostly for the U.S. Army.
Lockheed has not determined how many of the 290 workers at the plant will be offered jobs in Florida.
Sanwa Plaza Sold
The Japanese owner of the landmark Sanwa Bank Plaza in downtown Los Angeles agreed to sell the 52-story tower to Houston developer Hines for $215 million.
Mitsui Fudosan Co. of Tokyo said the sale will result in a loss of $60 million. In selling the property, the firm joins a growing number of Japanese investors that have sold off their U.S. real estate properties at a steep discount.
Real estate observers said the building at Figueroa Street and Wilshire Boulevard sold for one of the highest prices fetched by a downtown office building in recent years, as the area recovers from a deep recession.
City National Makes Acquisition
City National Corp., a Beverly Hills-based bank, will buy American Pacific State Bank for $89 million in cash as part of its expansion in the San Fernando Valley.
American Pacific operates eight branches in the Valley and has $414 million in assets.
City National has 38 branches throughout six Southern California counties. The acquisition will bring its total assets to $6.7 billion while aiding its effort to increase its share of business and private banking in the region.
(Bloomberg News Service)
Airport Verdict Reached
A jury ordered Burbank Airport officials to pay $86 million to Lockheed Martin Corp for 130 acres next to the airport for construction of a new terminal.
The sum is about midway between the $128 million sought by Lockheed in its lawsuit against the airport and the $38 million offered by the Burbank-Glendale-Pasadena Airport Authority. After the ruling, airport officials said the $86 million was within budget for the new terminal.
Earlier this month, the airport authority submitted plans to the city of Burbank for a scaled-down terminal in a move aimed at ending a four-year legal battle with the city. The airport agreed to cut the size of the planned facility from 19 to 16 gates, meeting a key demand by Burbank officials.
Million-Dollar Sales Increase
A new study indicated that twice as many San Fernando Valley homes sold for $1 million or more in 1998 than during the preceding year.
A total of 159 Valley homes went for seven-figure sums last year compared to 76 in 1997, according to the Southland Regional Association of Realtors.
Real estate observers said the increase is being driven by higher home prices on the Westside that make property in the Valley seem like a bargain.
Million-dollar homes were once confined to the priciest areas of Studio City, Toluca Lake, Sherman Oaks and Encino. But brokers said such sales are now made in areas like Calabasas, Granada Hills, Northridge and Woodland Hills.
Music Sold Online
Online retailer Amazon.com launched a new music service offering free downloads of songs in the controversial MP3 format.
Amazon is stepping gingerly into the downloadable music field, an area that ultimately could provide devastating competition to current recording formats. Amazon officials said they are working with the music industry to ease the impact of its move. No further details were released on the plan.
In the past year, Amazon has started selling music and videos on its own Web site as well as taking sizeable ownership positions in other companies that sell pet supplies, pharmaceuticals and groceries online.
Compiled by Danny Pollock
