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This is the one who was spending weekends in a $12 million Malibu beach house that the owners had to give up because of losses incurred in the Bernie Madoff fraud. Neighbors told the LAT that the executive hosted parties at the property - and a real estate agent said that Wells had spurned offers to show the house to prospective buyers. No details yet on the firing - Times just posted a quick bulletin on its Web site.
More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAXSocal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the HomogenoceneOne last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing
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Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.