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More bailout talk: Paulson and Bernanke are on Capitol Hill discussing the government's proposed rescue of the financial system. Here's live video from CNBC. The Dow was up more than 100 points this morning, but it's given back much of that gain. Who knows?
Ranking home values: Marin, San Mateo and SF counties rank one, two and three in median home values, according to a new Census report. Actually, eight of the top 10 counties in the nation are in California (OC ranks No. 7). Among cities, Newport Beach tied again for first in the nation, with a 2007 median home value somewhere above $1 million. Santa Barbara was the only other U.S. city at $1 million and above. Here are the county rankings, courtesy of the OC Register:
Rank County Median Value
1 Marin $918,700
2 San Mateo $843,100
3 San Francisco $830,700
4 New York $808,200
5 Santa Clara $758,100
6 Santa Cruz $756,800
7 Orange County $670,600
8 Monroe, Fla. $662,200
9 Monterey $658,700
10 Alameda $651,800
Immigration slows down: The nation added about 500,000 immigrants in 2007, down from more than 1.8 million the year before, according to estimates by the Census Bureau. The faltering economy and stepped up enforcement are among the reasons cited. (AP)
Downey has new CEO: Does the name Charles Rinehart ring a bell? He was CEO of H.F. Ahmanson, parent of Home Savings, from 1993 to 1998 (that's when the thrift was sold to Washington Mutual). Rinehart takes the helm at Newport Beach-based Downey, which has been facing heavy losses on defaulted mortgages. Its shares have plunged 90 percent this year. (LAT)
Emmys loses big: The Dallas-Green Bay matchup on NBC crushed the annual awards ceremony. A total of 12.2 million people were tuned in, down from 12.9 million last year. Nearly 21 million people were watching football. (Variety)
Off to China: L.A. County Supervisor Mike Antonovich will be meeting with Chinese biz leaders to discuss trade stuff. He'll be joined by Bill Allen, head of the Los Angeles Economic Development Corp., and Vance Baugham of the World Trade Center Association. (Daily News)
"De Blob" arrives: Don't get nervous, it's only a videogame. The offering from Agoura Hills-based THQ was created expressly for the Wii console, and it's apparently generating raves. So far, Wii hits from third parties have been scarce, so sales on this will be watched closely. (NY Post)
Lacter on radio: This morning's business chat with KPCC's Steve Julian covers the worsening job picture and the outlook for gas prices. Also available at kpcc.org and on podcast.
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.