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This morning's chat with KPCC's Steve Julian looks at the troubled bookstore business, and whether developer Rick Caruso should be allowed to expand his Glendale shopping center - despite the unwillingness of a hotel owner to sell his property. Available at
KPCC.org and podcast (Business Update with Mark Lacter). Transcript is after jump.
By the way, Caruso sent us a statement on the Glendale matter. In it, he argues that the city's redevelopment efforts have enjoyed widespread public support "because it has revitalized the city's downtown, generated millions in new taxes, and created thousands of new jobs." He adds that the hotel owner, Ray Patel, "has refused to engage in good faith negotiations and thus now stands in the way of the new jobs and tax revenue for Glendale." Patel says he's been pressured to accept Caruso's $6-million offer to purchase the hotel.
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.