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Karatz Expected To Settle Divorce With TV Chef Lee

Things on the home front haven’t been so sweet for KB Home Chairman and Chief Executive Bruce Karatz and Food Network personality Sandra Lee.


The couple, who were married in 2001, has officially called it quits. Their divorce lawyers were putting the final touches on a settlement agreement last week that is expected to be sealed in Los Angeles Superior Court.


Court employees were unable to find the divorce filings, which have gone missing.


Lee, who hosts the Food Network’s “Semi-Homemade Cooking,” filed for divorce in May citing irreconcilable differences. She has requested spousal support. She recently signed a contract to become a spokeswoman for Campbell Soup and also has a deal with Miramax to produce cookbooks and TV shows.


This is the second divorce for Karatz. In 2001, the same year he married Lee, Karatz exercised options worth up to $30 million in connection with a divorce settlement with his first wife.


He has two grown children.



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Gov. Arnold Schwarzenegger last week named Eric Gores, the son of Gores Group Founder and Chairman Alec Gores, to the State Council on Developmental Disabilities.


Gores, 22, is an actor with cerebral palsy who met Schwarzenegger during the filming of a 2005 movie called “The Kid & I,” which starred Gores, Tom Arnold and Linda Hamilton. Schwarzenegger made a cameo appearance in the movie and Arnold wrote the movie’s screenplay. Gores, a native of Holland, apparently became friends with Arnold while he was staying one summer with his father, who is Arnold’s next-door neighbor.


Another interesting appointment by Gov. Schwarzenegger was the choice of Roger Kozberg to the board of the California State Teachers’ Retirement System, the nation’s third-largest public pension fund. Kozberg, 69, is a consultant and former executive at Marsh Risk & Insurance Services. He also serves as a director at public television station KCET and is a trustee at the Natural History Museum. His wife, Joanne Corday Kozberg, is a former president and chief operating officer of the Performing Arts Center of Los Angeles County.



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Morningstar Inc. in Chicago has named Metropolitan West Asset Management its “Fixed-Income Fund Manager of the Year.”


Metropolitan West, based in Brentwood, had been nominated for three years in a row. It earned the distinction of outperforming in a rising interest rate environment, which translated into a dismal bond market in 2005.


“We’re a little humbled,” said Tad Rivelle, the firm’s chief investment officer, who shared the limelight with Laird Landmann, managing director, and portfolio managers Stephen Kane and David Lippman.



*Staff reporter Kate Berry can be reached at (323) 549-5225, ext. 228, or at

kberry@labusinessjournal.com

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