September 28 - October 4, 2008
Friday, Oct. 3
Former NYT reporter David Cay Johnston takes exception to that word being used to describe this, er,
major problem.
The L.A.-based retailer is going after most of the stores in the department store chain, now in bankruptcy protection.
Despite what's happening in the credit markets, the company doesn't face any imminent problems in paring down debt.
Gov. Arnold Schwarzenegger's warning about the state possibly needing a loan came up during this morning's House debate,
Not even close. The Dow is up 212 points. Final vote: 263-171....
Pelosi is speaking. Fasten your seat belts....
Much of the uptick is based on cautious optimism that the House will pass the bailout package.
If nothing else, the prospect of California having to be bailed out by the feds helps explain how serious the credit crisis has become.
The Labor Department's payroll survey showed a loss of 159,000 jobs - 59,000 more than had been expected.
Unlike the now-scrapped agreement with Citigroup, this one does not require government assistance.
Thursday, Oct. 2
The task is to determine how serious a blockage there is, where it’s coming from, and how long before the situation gets out hand.
Hundreds of patients are still receiving the anti-clotting drug, months after the recall alerts went out.
The Dow fell 350 points - and that's the day after the Senate passed the rescue plan.
He tells Charlie Rose that the economy is going through a Pearl Harbor-type crisis. But he also expresses support for the rescue plan.
What's becoming clear is how spooked the financial markets had become after a money market fund had “broken the buck.”
The online prediction market gives Obama a 66.2 percent chance of winning the election.
More worries on Wall Street, new worries in Sacramento, easing L.A. congestion, and SAG might take strike authorization vote.
Wednesday, Oct. 1
Funny how that bailout package just kept getting bigger and bigger and bigger.
Isn't there some Talmudic loophole that allows really important people to stay on the job when the future of the country is at stake?
This is the measure that would have imposed a $30 fee on cargo containers moving through the ports of L.A. and Long Beach.
It's another example of how unregulated businesses lacking in most any kind of oversight can create a disaster.
Today's worry on Wall Street is not the rescue plan, which seems to have undergone a 180-degree revival in less...
New day for ports, SAG moves toward strike vote, TV ratings sluggish in first week, and restaurant chains must post calories.
Tuesday, Sep. 30
The notion that Wall Street doesn't deserve to be bailed out has to be one of the dumbest arguments to come along in some time.
There's lots of chatter about some sort of rescue package making it through Congress by the end of the week.
The Screen Actors Guild had asked the studios and networks to resume negotiations by focusing on just three issues.
We're hearing scary - and misplaced - references to the Great Depression, especially after yesterday's House vote.
You can almost hear the bozos who voted against the bailout say, "See, we told you - Wall Street isn't collapsing after all."
L.A.-area prices fell 1.6 percent in July from a month earlier and 28.2 percent from a year earlier.
Monday, Sep. 29
Tribune Co.'s ever-vigilant innovation chief wonders why advertorials have to be called "special advertising sections."
As the economic situation deteriorates, the demand for commodities, including oil, is expected to slow.
Among 38 incumbents in races that are rated as a "toss-up" or a "lean" by the Swing State Project, just 8 voted for the bailout.
It wasn't a complete meltdown, but it was close enough - and given the playground-type skirmishes we're hearing on Capitol...
The Congressional leadership apparently wants to take another shot at the bill, perhaps today, perhaps later in the week. What's...
Bailout bill did not pass, which has Wall Street in a panic (Dow initially fell 700 points). Hold onto your...
Fed injects billions into the system, local office market gets hit, new drilling in Long Beach and Variety still up for sale.
There's still lots of concern over whether the bailout bill will turn things around.
Here's another case of an out-of-state bank that in retrospect was too eager to expand into California.
Sunday, Sep. 28
Not everyone agrees with this optimistic scenario, of course. Thing is, the optimistic scenario makes sense.
Go back a decade or so, with the creation of those exotic financial products that helped big-time investors skirt existing rules.
Citigroup and Wells Fargo were going after the banking giant today, in what’s being described as a “possible emergency takeover.”
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