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1990 Year

CALIFORNIA | LOCAL
January 1, 1991
No arrival was more anxiously awaited, or more enthusiastically received, than that of anti-apartheid leader Nelson Mandela. The long-imprisoned South African, on an eight-city tour of the U.S., addressed thousands on the steps of City Hall and at the Los Angeles Memorial Coliseum. When USC trustees said they were engaged in a nationwide search for a new president, they meant it. Geographically speaking, they couldn't have gone much further than to select Steven B.
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CALIFORNIA | LOCAL
January 1, 1991
In the field of aerospace, the talk was more of layoffs than lift-offs. Southland job cutbacks by company: McDonnell Douglas, 8,600 jobs; Lockheed, 4,000 jobs; Northrop, 3,000 jobs; TRW, 1,600 jobs. The economy's downturn also hit the Los Angeles real estate market--with prices leveling and home sales dipping by about 25%. Meanwhile, the Los Angeles banking world was rocked by news that Security Pacific Corp. would lose as much as $360 million during the final quarter of 1990.
BUSINESS
January 1, 1991 | TOM PETRUNO, TIMES STAFF WRITER
Wall Street finished 1990 with a small gain Monday, as investors closed the books on the ugliest year for stocks since the early 1980s. The Dow Jones industrial index inched up 4.45 points to 2,633.66. For the year, the Dow lost 4.3%, off 119.54 points from its 1989 close of 2,753.20. It was the first yearly loss for the Dow since 1984, when the blue chip index fell 3.7%. But the relatively minor 1990 drop masks the bear market thrill ride taken by stocks during the year.
BUSINESS
January 1, 1991 | JOHN O'DELL, TIMES STAFF WRITER
Jeffrey Kilpatrick figured he had a great product when he launched the Orange County Growth Fund in 1988: Let investors profit from the area's booming growth by buying into a fund that included stocks of some of the county's hottest public companies. But with just a few exceptions, those stocks tend to be highly volatile.
ENTERTAINMENT
January 1, 1991 | LEAH OLLMAN, SPECIAL TO THE TIMES
Promises, promises. 1990 began with a hearty host of them and more were delivered along the way. The year came and went with many of them left dangling, unfulfilled, but plenty remain, and some are enticing enough to sustain hope for San Diego's continually evolving art community into 1991 and beyond. The most encouraging signs appeared, surprisingly, at the San Diego Museum of Art, the city's largest but, generally, least ambitious art institution.
CALIFORNIA | LOCAL
January 1, 1991 | PAUL FELDMAN, TIMES STAFF WRITER
Los Angeles, long a citadel of impulse and excess, kicked off the 1990s with spectacular displays of fire and gunfire, takeovers and trials. The first year of the '90s was also one in which history kept repeating itself.
BUSINESS
January 1, 1991
The stocks of Orange County's publicly traded companies did not fair well in 1990, but there were a few exceptions, most notably AST Research Inc. The changes shown here are the gains or losses from Dec. 29, 1989. Major Indicators DOW: -4.34% NYSE: -7.46% AMEX: -18.49% NASDAQ: -17.80% WILSHIRE: -318.51 Biggest Gainers * AST Reseasrch: +259.0 DVI Financial: +115.0 Birtcher Med.: +112.9 PDA Engr.: +108.5 Nichols Inst.: +36.0 Nationwide H.: +28.4 Ceradyne: +20.7 Gish Biomed.: +20.0 Varco Int'l.
CALIFORNIA | LOCAL
January 1, 1991
"For 115 years, the Los Angeles County Board of Supervisors has been an exclusively all-white, male club . . . now that club membership is open to everyone." --Marc Rosenbaum, an attorney for the American Civil Liberties Union, reacting to a federal judge's ruling that the board violated the Voting Rights Act by drawing district boundaries that discriminate against Latinos. Four prominent Latino candidates are running for a newly carved seat in a primary election scheduled for Jan. 22.
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