October 14 - October 20, 2012
Friday, Oct. 19
Parking lot operators implausibly argued that their customers would balk at paying a little more and instead drive to lots in nearby cities (you mean I'd park my car in Beverly Hills and walk to a restaurant in L.A.?).
Today's 205-point drubbing was the biggest one-day loss since June. It fits into the ongoing narrative that corporate earnings in the third quarter were on the weak side.
Lots of reflections today on the 25th anniversary of 1987's stock market crash, also known as Black Monday, but Robert Griffo's tale is something special.
He's Robert Graham, who heads the little-known Americans for Responsible Leadership, a nonprofit that contributed $11 million to opponents of Proposition 30 and 32.
A generally positive report. The county's unemployment rate for September was 10.6 percent, down from 11 percent the previous month. But it's not all beer and skittles.
Big drop in stocks on 25th anniversary of Black Monday, gas prices start to fall at more accelerated pace, Garcetti opposes 401(k) plans for city workers, and U-T owner says he's interested in (gulp!) Tribune Co.
The state is now at 10.2 percent, the lowest level since early 2009. However, only 8,500 jobs were added to the rolls.
Thursday, Oct. 18
Today's tracking poll gives Romney a 7-point lead (52-45), which is nowhere near any of the other national polls. Turns out this has happened before.
Face up to it: Recasting Newsweek as an online, subscription-based website has no chance of succeeding.
This has popped up a few times in recent months, but there's no telling how serious he might be. And there's still little indication when the new Tribune owners will want to sell.
By being a nonprofit and not earmarking the money for a particular purpose (something that's very hard to prove), groups do not have to reveal who their donors are.
Considering the thousands of earnings statements that are filed each year, this sort of thing doesn't happen very often. But when it does... well, let's just say you wouldn't have wanted to own Google shares.
Newsweek to cease publication at the end of the year, Warner Bros. wins big in Superman dispute, Amazon opens distribution center in San Bernardino, and county assessor still receiving salary.
Wednesday, Oct. 17
More than 65.6 million people were watching, according to Nielsen, which is only a bit less than the viewership for the first debate.
The problem is that the superstore business model doesn't work well anymore - just too many "showroomers" who check out products at the stores and then make their purchases online.
Higher home prices, lower foreclosure filings, increased taxable sales - it's hard to deny that things are getting better. The question is whether the recovery can accelerate.
They're at their lowest level since early 2007, the result of a stronger housing market - and a stronger economy.
How do you have an incumbent down by such a large margin on one side of your house when surveys on the other side show that the economic metrics keep improving?
Smallish profit for B 0f A after settling large claims, state regulators investigating CVS over refilling prescriptions without patients' consent, Nike drops Lance Armstrong after doping report, and NHL team owners offer 50-50 split with players.
Tuesday, Oct. 16
That might seem awfully tight, but it's positively roomy compared with the NY metro area, which has a population density of 31,251. So does having lots of people cramped into a tiny space do any good?
Why are Americans increasingly confident about the state of the economy, but still supporting Romney by a 50%-46% margin?
A total of 1.6 million people in the metropolitan area were born in Asia, according to the Census Bureau. The Chinese are the largest immigrant group.
An "effective immediately" resignation is almost always a signal of bad blood between the person leaving and the powers that be - typically the board.
Still no big downward move on gas prices, L.A.-area inflation picking up because of fuel costs, Citigroup CEO steps down unexpectedly, and new concerns on the Westside about digital billboards.
Monday, Oct. 15
Merchants had anticipated a decent but not spectacular year, but the solid increase in retail sales last month could change the outlook.
The pending makeover of the Los Angeles Convention Hall - orchestrated by AEG as a way to make its downtown football stadium seem more palatable - will be happening just as the overall convention business is slowing down.
The California congresswoman is in outreach mode with the big boys - an interesting about-face from her less-than-flattering comments about the role of major banks in the financial crisis,
UCLA economist Lloyd Shapley and Harvard's Alvin Roth were recognized for their work on market design and matching theory, which is basically the process by which selections are made in markets that don't have prices. That includes selecting mates.
Gas prices falling very slowly, retail sales are better than expected in September, UCLA economist shares Nobel price, and new Variety owner considering different digs.
© 2003-2015 • About LA Observed • Email the editor
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.
More From Mark Lacter:
After 22 years of loyalty, Baylor is unceremoniously shown the door.
Before I lived in Echo Park, there was a tiny 1920s bungalow-cottage-standalone house on N. Occidental in Silver Lake. I...
