Review
January 22-29
Oscar Nominees: “Lord of the Rings: The Return of the King” was nominated for 11 Academy Awards, including best picture, the most of any film this year. The other films nominated for best picture were “Lost in Translation,” “Master and Commander: The Far Side of the World,” “Mystic River” and “Seabiscuit.” Time Warner, parent of Warner Bros. and New Line studios, had 23 nominations, while News Corp., which includes 20th Century Fox, had 14. The Oscars will be broadcast on Feb. 29 from Hollywood’s Kodak Theatre.
Tenet News: Tenet Healthcare Corp. said it would sell 27 of its 100 hospitals and take a $1.4 billion charge to focus on its more profitable facilities. Of the 27, 19 are in California, many in the Los Angeles area. Meanwhile, the Santa Barbara-based hospital chain said fourth-quarter profit will be lower than the 11 cents a share previously expected. The government is investigating the company’s billing practices.
Superstore Suit: Wal-Mart Stores Inc. filed suit over a law passed by Alameda County aimed at keeping large stores that sell groceries along with other merchandise from being built. The Bentonville, Ark.-based company called the ordinance “anti-competitive and anti-consumer.” A similar measure is being considered in the city of Los Angeles. The company plans to open 40 “supercenters” in California over the next three or four years.
Global Suit: Former Global Crossing Ltd. officials including ex-Chairman Gary Winnick should be responsible for any damages that Goldman Sachs Group Inc., Citigroup Inc. and Merrill Lynch & Co. may be ordered to pay the company’s shareholders, the banks said in a lawsuit filed in federal court in New York. The shareholders are suing seven investment banks, claiming they underwrote a 2000 stock sale and issued favorable opinions about the company while it filed misleading disclosures.
Earnings Results: Hilton Hotels Corp. reported fourth-quarter net income of $67 million, compared with $40 million for the like period a year ago. Revenue for the Beverly Hills-based hotel operator rose 3.3 percent, to $989 million. Avery Dennison Corp. reported fourth-quarter net income of $59.3 million, compared with $55.5 million for the like period a year earlier. Revenue for the Pasadena-based label maker was $1.23 billion from $1.09 billion. Activision Inc. reported third-quarter net income of $76.9 million, compared with $44.4 million for the like period a year ago. Revenue for the Santa Monica-based videogame maker rose 34 percent, to $508 million. Countrywide Financial Corp. reported fourth-quarter net income of $563.7 million, compared with $254.9 million for the like period a year ago. Revenue for the Calabasas-based mortgage lender rose 51 percent, to $2.11 billion.
Disney Plea: Walt Disney Co. Chairman Michael Eisner received Disney shares worth $6.25 million for 2003, up from the $5 million in stock that he was given the previous year. The company’s president, Robert Iger, was paid a salary of $1.4 million, plus a cash bonus of $4 million and $1 million in restricted stock. Meanwhile, former Disney directors Roy E. Disney and Stanley Gold are urging shareholders to withhold their votes to keep Eisner and three other directors from being re-elected to the board.
Regis Returns: ABC said it plans to air a new version of the quiz show “Who Wants to Be a Millionaire” during next month’s sweeps period. The Walt Disney Co.-owned network said “Super Millionaire” will air five times during the sweeps and will be hosted by Regis Philbin.
Preview
February 2-8
Sports Beat: The Lakers, Clipper and Kings are out of town all week. There are a couple of college games, with UCLA taking on Washington State on Thursday (5th) and Washington on Saturday (7th). USC reverses the order, hosting Washington on Thursday and Washington State on Saturday. Also this week: the AT & T; Pebble Beach National Pro-Am golf tournament and the NFL Pro Bowl Game on Sunday (8th) from Honolulu, the last football game of the year.
Economic Summit: The Beverly Hills Chamber of Commerce will hold in fourth annual Economic Summit on Thursday (5th) from 10 a.m. to 2:45 p.m. at the Regent Beverly Wilshire. In addition to economic overviews, the gathering will include a panel discussion featuring Timothy Leiweke of Anschutz Entertainment Group, developer Rick Caruso (photo) and investor John Anderson. For information: 310-248-1000.
Musical Interlude: Britain’s Royal Philharmonic Orchestra will perform at Royce Hall on Wednesday (4th) at 8 p.m. Under the direction of Daniele Gatti, the orchestra will perform Prokofiev’s “Classical Symphony,” Mozart’s Symphony No. 40 and Tchaikovsky’s Symphony No. 5. For information: 310-825-4401.
Economic Reports: Monday (2nd): December personal income, personal spending and construction spending. Tuesday (3rd): January layoff numbers from Challenger Gray & Christmas. Friday (6th): Unemployment data for January (more watched than usual because of December’s disappointing numbers and because it will serve as fodder by either President Bush or the Democratic candidates running for that party’s nomination).
Awards Season: This week’s highlight is the 46th annual Grammy Awards at Staples Center, beginning at 5 p.m. (and seen here on CBS at 8 p.m.). Also this week is the Directors Guild Awards on Saturday (7th) at the Century Plaza Hotel and the MusiCare Person of the Year as the Recording Academy honors Sting on Friday (6th).
Political Theater: “The Same Three Guys” by playwright Joe Roland will be performed in a staged reading Tuesday (Feb. 3) at The Actor’s Gang. Sales of the $50 tickets will benefit striking grocery workers. For information: 323-782-6277.
