Case May Give View of Capital Group
A divorce case is threatening to reveal financial details of Capital Group Cos., the $1-trillion-asset Los Angeles money management firm that has long kept its internal business affairs closely guarded. The privately held company plans to ask a Superior Court judge to restrict public access to certain documents and testimony in the divorce trial of Capital executive Timothy Armour and Nina Ritter, the Los Angeles Times reported. A business request for the restriction of information in a divorce case is rare and raises constitutional issues, experts say. Trial is set to begin Monday. As a private firm , with only about 300 shareholders, Capital isn’t required to publish data on its income or to say how much it pays its executives.
Amgen Sued Over Strategy
Reigniting a long-running feud, Johnson & Johnson accused Amgen Inc. of using illegal pricing tactics to drive J & J;’s anemia drug from the market. In an antitrust suit, J & J;’s Ortho Biotech Products unit alleged that the Thousand Oaks-based biotech giant effectively forced cancer clinics to buy Aranesp, an anemia drug that directly competes with J & J;’s Procrit, to get discounts on two other drugs, Neulasta and Neupogen. The suit is the latest move in an intense rivalry that has played out in the marketplace and in court and that dates to the early days of Amgen, the Los Angeles Times reported. The suit was filed Tuesday in U.S. District Court in Trenton, N.J.
Unions Demand Pay for iPods
The entertainment industry’s major labor unions, still smarting over not getting a larger cut of DVD revenues during their most recent contract negotiations, are making clear that they expect fair compensation from movies and television shows downloaded on the new video iPod device. On Wednesday, Walt Disney Co. announced that ABC and Disney Channel TV shows would be part of Apple Computer Inc.’s new pay-per-download feature. ABC spokesman Kevin Brockman said Thursday that the network is open to discussions.
Mayor Asks Outside Probe of City Power
Responding to three power outages in the past month, Mayor Antonio Villaraigosa called on the Board of Water and Power Commissioners on Thursday to seek an independent review of the city’s electric system. Also, Villaraigosa nominated Forescee Hogan-Rowles, an economic development official and former City Council candidate, to the panel that oversees the Department of Water and Power. The mayor requested a report within 45 days to address the electrical distribution system, its maintenance history and the city’s investment in the network. A Sept. 12 blackout affected half the city. It was followed by two smaller outages, including one Tuesday that affected 1,000 customers downtown, the Daily News of Los Angeles reported.
El Segundo Has Orders for ‘McMansions’
El Segundo became the latest South Bay community to begin arming itself against
mansionization
this week, with officials moving to change zoning codes to thwart construction of big-box homes on top of one another, the Daily Breeze reported. If approved by the City Council, the changes will force builders to leave more open space between houses and to be more creative about how second stories are designed. Second stories not exceeding 500 square feet in area and 20 feet in length along the side property line must maintain a standard setback of 3 to 6 feet from the property line. And buildings not exceeding 18 feet in height can cover 56 percent of the lot; structures taller than 18 feet can take up 50 percent. Current code limits lot coverage to 47 percent and 40 percent.
Green Light for Mental Health Plan
The Los Angeles County Board of Supervisors has approved an ambitious plan that will use an expected $280 million from a statewide tax on wealthy Californians to reshape mental health services over the next three years. The Community Services and Support plan now goes to the state Department of Mental Health Services for review, the Los Angeles Times reported. The plan provides a broad blueprint for providing housing and substance abuse treatment for more than 45,000 children and adults with severe mental health problems, with other services for an additional 100,000 family members and individuals with less severe conditions. If approved, the county could begin receiving funds by January.
