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Northrop must wait: Having lost out on two huge contracts in the past month or so, Northrop is facing an extended delay in the awarding of yet another big piece of government business: a $20 billion contract to supply aerial tankers. The Air Force wants to wait until 2009 before choosing either Northrop or Boeing, the WSJ reports. That provides more time to negotiate the best deal.
"Sharecroppers on wheels": That's how L.A. cab drivers are described in a UCLA study in which the city of L.A. is dinged for failing to properly regulate its tax franchises. The study finds that a typical cabbie makes $8.39 an hour, drives 72 hours a week and 61 percent of those surveyed have no health insurance.
No laughing matter: The NYT picks up on how the decision by talent managers Jimmy Miller and Eric Gold to dissolve their business has upended the world of big-name comics. Much attention is also given to Miller/Gold client Jim Carrey leaving United Talent Agency in favor of CAA. More broadly, the piece examines how studios are less willing to put up with the demands of high-priced talent.
Looking to 2010: The governor's race has become such a snoozer - and Schwarzenegger's reelection such a foregone conclusion - that Sacramento Bee columnist Dan Walters is already looking four years down the road.
Redstone's pay cut: Viacom will reduce the chairman's salary to $1 million from $1.75 million and his deferred compensation of $1.3 million a year will be eliminated. His target cash bonus under Viacom's short-term incentive plan will be reduced from $6.1 million to $3.5 million a year. Redstone says he's happy to oblige because the numbers better reflect a pay-for-performance model.
Fixing up malls: Former Arden Realty executives Richard Ziman and Victor Coleman are among the investors behind a new firm that will renovate and develop shopping centers on the West Coast. The LAT reports that Manarino Realty, to be based in Irvine, will acquire underperforming commercial properties and redevelop them into shopping centers with offices, hotels, theaters, restaurants, apartments and condominiums.
Downtown dealing: Several big commercial deals have been made recently - starting with Transamerica signing a 10-year lease extension at the AT&T Center. LBA Realty, which paid $130 million for the South Park property, is doing some updating. USC also has signed a lease.
Counting the days: In just a few weeks Nielsen will release ratings for commercial breaks, and the numbers are expected to be up to 10 percent lower than that of the accompanying programs. Expected to get the biggest hit are cable channels that clutter up programming with commercials every few minutes. The concern, of course, is that advertisers will start wanting discounts.
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.