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1990 Year

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.
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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.
CALIFORNIA | LOCAL
January 1, 1991
Death took a heavy toll on Hollywood's old guard in 1990, the victims ranging from the reclusive Greta Garbo to "Mr. Entertainment" himself, Sammy Davis Jr. Other show biz notables who passed away in 1990 included Rex Harrison, Ava Gardner, Jim Henson, Sarah Vaughan, Mary Martin, Joel McCrea, Irene Dunne, Pearl Bailey, Bob Cummings and Xavier Cugat. Occidental Petroleum Corp. chairman and art patron Armand Hammer died at age 92, only one day before his long-delayed bar mitzvah.
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.
NEWS
January 1, 1991 | JOHN NEEDHAM and MARK LANDSBAUM, TIMES STAFF WRITERS
You didn't hear an awful lot of Sinatra crooning "It Was a Very Good Year" in the past 12 months. For good reason. Oh, sure, things weren't too bad at the start, all that warm and fuzzy feeling for a new decade (despite the whiners who kept complaining that 1990 was really the last year of the old decade. Go figure!) The Dow Jones average, Orange County's most widely watched measurement of happiness, hit 3,000. People bought the new Mercedes convertible. Donald L.
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