October 12 - October 18, 2008
Saturday, Oct. 18
Qantas begins using the Airbus monster for its service between L.A. and Melbourne.
Considering how the Democrats are so fervently tying big bad business with the GOP... well, you see the problem.
Friday, Oct. 17
On a day that has seen bleakness most everywhere, it's hard not to find fascination over news that Sumner Redstone is in trouble.
The popular real estate Web site has a lot of eyeballs and VC funding. But revenues are not yet covering expenses.
After a close-out sale during the holiday season, the Hayward-based department store chain will wind down operations.
One closely watched indicator shows more willingness of banks to lend to other banks.
Rather than lend, many banks, especially the healthier ones, would prefer to use government money as a cushion.
The September unemployment rate was 7.8 percent, which is a tad lower than the 7.9 percent rate in August.
Plans for a 45-story luxury condo tower at Santa Monica Boulevard and South Moreno Drive have been shelved.
Gas prices drop for the 17th straight week, office vacancies are rising (and rents are falling), and Buffett still bullish.
Thursday, Oct. 16
Producer Bill Block thought Oliver Stone’s treatment of Bush’s rise to power would appeal to middle America.
There's just a lot of interest among investors, who are having a hard time knowing where to put their money.
Tribune Co. says it will drop the Associated Press, though it has two years to work out a deal.
More red ink at Merrill and Citi, California gets needed cash, traffic falls at ports, and new plan for California Adventure.
Wednesday, Oct. 15
So much for the hope that the market had hit bottom earlier in the week.
Given the accuracy of 2008's economic forecasts you might wonder whether it's worth the effort.
It's almost unfair to dredge up the bullish scenarios that developers had been offering a year ago. Almost.
There has been a little loosening in some of the widely-watched indexes, but it's like comparing a 99-degree day with a 103-degree day.
Stocks sinking on bad economic news, more regulation is considered key, gas prices keep falling, and new idea for Bev Hills project.
Tuesday, Oct. 14
Godfather Hank Paulson lays out a plan to inject $250 billion into the banking system - and the terms are non-negotiable.
We're starting to get an idea of how many millions have been lost in the stock market by big-shot chief executives.
It's a 53-39 percent edge, according to the CBS/NYT poll, just out this afternoon.
Be happy, be hopeful - there is no shortage of opinion on whether the bank bailout will work.
The state treasurer's office took orders for more than a third of the $4 billion worth of notes being sold this week.
A Korean firm will invest $100 million for the first phase of the long-delaed downtown project.
California starts selling short-term notes, Dodgers team up with the William Morris agency, and Redstone could be vulnerable.
Monday, Oct. 13
After cutting the cord at Paramount, the refashioned DreamWorks studio has a seven-year distribution deal.
That's an 11 percent jump on the day....
Downey Savings & Loan has been in a world of hurt for some months now, but the backstory is not what you might expect.
The Dow climbs over 9000. The all-time high is 14,164.53....
In a single paragraph, Variety's Peter Bart manages to blow off almost 4 million people and an economy of around $400 billion.
That's what happens when much of the sales activity involves foreclosed properties (roughly a third of all sales in the county).
The Dow is up sharply in early trading, but there's a lot of skepticism about whether the rally will last.
European exhanges are up 4-6 percent, following Asia's big advances.
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The funeral for Mark Lacter will be held Sunday, Nov. 24 at 12 noon at Hillside Memorial Park, 6001 W. Centinela Avenue, Los Angeles 90045. Reception to follow.
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