July 22 - July 28, 2012
Friday, Jul. 27
Today's 187-point gain follows up Thursday's 210-point jump - and of course big losses on Monday and Tuesday. So now the Dow stands at 13,075, the first time the blue-chip index has been over that level since May 8.
Much of the attention has been focused on the opening weekend results for "The Dark Knight Rises," but last week's mass killing was a "likely factor" in a 7.5 percent overall box office drop.
Sluggish economic growth as Americans reduce spending, Facebook stock continues to tank, Spain's jobless rate nears 25 percent, and downtown landlord might put portfolio up for sale.
Thursday, Jul. 26
That's a pretty hefty premium, especially at a time when the housing market is still trying to regain its balance. Of course, this is a pretty special house.
Wall Street is in a holding pattern as investors try figuring out what's going on, and perhaps make a few bucks in the process. The Dow is pretty much where it was earlier in the week.
Yeah, it sounds terrible, but revenue was a little better than analysts had projected. Investors, however, don't seem all that impressed.
Many of them were given temporary permits by the county's Environmental Health Division. Those permits are now expiring and the food truck operators have to come into compliance.
So the business has been underwhelming. Happens to the best of them. But what about a company whose insiders dump 43 million shares right before the stock tanks?
Big drop in jobless claims, NBC books $1 billion in Olympic ads, underwater mortgages flooding downtown L.A., and business and labor support for separating LAX runways.
Wednesday, Jul. 25
It's the first Orange County location for the legendary chicken and waffle joint, and the largest of the Roscoe's to date.
Even today, more than six months after the Northern California city emerged from Chapter 9 protection, it's not that pretty a picture.
California is moving along at a reasonably decent clip - certainly far better than many of the naysayers would have you believe.
It's not that the council erred by voting for the ban. But without the state legislature stepping in and establishing rules and regulations, no one city is in a position to force the issue.
Behind Apple's rare miss, California is world's 9th largest economy (ahead of Russia and behind Italy), weak job growth expected in L.A. this year and next, and San Bernardino approves emergency budget.
Tuesday, Jul. 24
But don't be surprised if they start looking for cheaper alternatives, especially if the Affordable Care Act results in higher premiums.
The 13-1 vote prohibits the sale of medical marijuana in the city of L.A. though it does allow small groups of patients and caregivers to grow limited quantities of pot.
The Dow dropped 104 points, to 12,617, following up on two previous triple-digit losses and causing new jitters on Wall Street.
After perfunctory council speeches and passionate public comment, the council is meeting privately to discuss a proposal to shut down the city's pot dispensaries.
They cancelled this morning's table read, according to various reports, because a number of cast members indicated that they weren't showing up.
And when I say "Congress," I'm really talking about Congressional Republicans. Sure, the Democrats are no bargains, but it's the GOP that is largely to blame for a fiscal mess that has only made the overall economy worse.
Real estate prices perking up, City Council to consider pot ban, Harman family stops funding Newsweek/Daily Beast, and El Monte in financial trouble.
Monday, Jul. 23
If the college football honchos are so intent on teaching the school a lesson, why allow games to be nationally or regionally televised?
You can trace much of the U.S. aerospace business by the companies that have owned the Canoga Park-based rocket maker over the years.
The bank's automated teller network has been reduced by almost 9 percent, and many of the cuts were made in non-bank locations that don't operate 24 hours a day. B of A has been in major cost-cutting mode, with more than 100 branches being closed this year and plans to eliminate at least 30,000 jobs.
The long-awaited order sets the stage for the media giant (and parent company of the LAT) to emerge from Chapter 11 protection later this year.
Statewide, the number of homes entering the foreclosure process has dropped to its lowest level since early 2007. How these numbers factor into the fledgling housing recovery is the big question.
New concerns about Europe rattle markets, strong weekend for "Dark Knight," L.A. office market is slowly improving, and weak sales for all-electric cars.
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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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