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NEWS
November 7, 2011 | By Michael A. Memoli
The federal government recorded a $1.3-trillion budget deficit in the 2011 fiscal year, roughly even with the previous year's shortfall. An analysis from the nonpartisan Congressional Budget Office released Monday showed that federal government took in $2.3 trillion while spending $3.6 trillion. Receipts increased at a faster rate than the growth in spending -- 6.5% versus 4.2%, respectively. The deficit as a share of the national economy actually decreased slightly from 9% to 8.7%, though that figure was still the third-highest since World War II. The analysis comes as congressional negotiators are working to meet a Thanksgiving deadline to put forward a plan to slash long-term deficits by $1.5 trillion.
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BUSINESS
December 22, 2010 | By Jerry Hirsch, Los Angeles Times
Automobiles ? whether economy cars or the top luxury models ? are rapidly becoming safer to drive, an insurance industry trade group said. The Insurance Institute for Highway Safety released its Top Safety Pick ratings for the 2011 model year Tuesday, saying 66 vehicles, including 40 cars and 25 sport utility vehicles, earned the group's highest safety ranking. That's more than double the 27 vehicles that achieved the group's top safety grade at the start of this year. Big improvements to roofs to protect passengers in rollover accidents contributed to a greater number of vehicles' achieving better rankings.
BUSINESS
January 24, 2013 | By E. Scott Reckard
Hanmi Financial Corp. of Los Angeles said its profit more than doubled to $14 million in the fourth quarter as regulators lifted 3-year-old orders requiring the parent of Hanmi Bank to raise more capital. The end of enforcement actions by state bank regulators and the Federal Reserve enables Hanmi, once the largest of the many Koreatown-based banks, to focus on arranging a financial marriage for itself, Chief Executive Jay S. Yoo said in announcing the earnings Thursday morning.
BUSINESS
September 12, 2013 | By Lauren Beale
Paul Wesley, who stars on "The Vampire Diaries," and actress Torrey DeVitto have sold their home in the Hollywood Hills for $1.734 million. The 1920s Mediterranean-style villa features a rotunda entry, beamed ceilings, vintage tile, a circular dining room, an oak staircase, three bedrooms, 2.5 bathrooms and 3,262 square feet of living space. There is a courtyard and a detached office/gym. The house is perched above Beachwood Canyon with a hedged perimeter for absolute privacy, according to Trulia , which broke the news of the sale right after escrow closed.
BUSINESS
March 28, 2012 | By Alejandro Lazo
Las Vegas-area home sales are on the mend as cash rules supreme. The long-suffering Las Vegas housing market last month had its strongest sales for a February in six years, according to San Diego real estate research firm DataQuick. Sales were up 5.0% from January and 8.9% from February 2011 to total 4,240 homes sold in Clark County. New home sales hit a four-year high and sales of previously owned homes were at their strongest since 2005. Cash buyers purchased 52.9% of Las Vegas-area homes last month, a sign of just how prevalent investors are in that market.
AUTOS
June 27, 2013 | By David Undercoffler
Mitsubishi is recalling more than 3,000 of its Outlander Sport compact SUV to correct an issue with the vehicles' optional panoramic sunroofs. The National Highway Traffic Safety Administration said 3,181 Outlander Sports from the 2011 model year were being recalled in the U.S. and Puerto Rico. At issue was the lack of a primer being installed around the sunroof during the manufacturing process. This could cause the glass roof to become detached from the Outlander Sport while it's in motion, "resulting in a road hazard to other vehicles," according to NHTSA.
BUSINESS
July 17, 2012 | By Jerry Hirsch
Every year automakers launch a barrage of advertisements pitching how they need to clear out the current year's vehicles to make way for new model year inventory. At the same time, the companies keep moving up the date on new model year car introductions.  This once all took place in late August and September, but now its starting in June and hitting full stride in July. Auto price information company TrueCar.com analyzed June vehicle sales by brand and model year and figured out which manufacturers have moved the most aggressively into the new model year and which ones were stuck still selling significant numbers of car leftover from 2011.
ENTERTAINMENT
August 3, 2012 | By Ben Fritz
With only three new movies in theaters during the second quarter -- one a 3-D re-release and another released on behalf of a separate company -- Paramount Pictures revenue plunged 29% to $1 billion. Thanks to sharply lower expenses, however, the studio's operating income dropped only 6% to $29 million, according to financial results released by parent company Viacom Inc. on Friday. Among Paramount's releases in the three-month period ended June 30, "Titanic 3-D" was a huge hit, grossing $343.6 million worldwide, which was split between the L.A. studio and partner 20th Century Fox. "Madagascar 3: Europe's Most Wanted" has taken in a strong $501 million so far, though Paramount keeps just 8% of revenue from the DreamWorks Animation release.
BUSINESS
August 17, 2012 | By Shan Li, Los Angeles Times
The co-chief executive and public face of upscale home decor chain Restoration Hardware Holdings Inc. has resigned, reportedly amid an internal inquiry into his relationship with a 26-year-old female employee. Gary Friedman, 54, who has served as chief executive since 2001, is widely credited with turning around a company once teetering on the brink of bankruptcy. The Marin County retailer is now readying for an initial public stock offering. A black-and-white photo of Friedman, with a 5 o'clock shadow and wearing a leather jacket, is still prominently featured on the retailer's website, next to a letter from the San Francisco native quoting the late Apple CEO Steve Jobs: "If you live each day as if it was your last, someday you'll most certainly be right.
SPORTS
October 9, 2010 | By Grahame L. Jones
If there is one thing that Chivas USA has learned in 2010, it is that the team needs to be better in 2011. Year-end awards, in other words, will be thin on the ground when the Major League Soccer regular season comes to a close in two weeks. Having failed to reach the playoffs for the first time in five years and having won only eight games, including Saturday night's 3-0 victory over Toronto FC in Carson, Chivas USA requires a substantial makeover. Part of that will come about naturally, with the departure, for instance, of U.S. national team defender Jonathan Bornstein, who is joining the UANL Tigres in Mexico, and the likely retirement of a player or two. The team features a trio of 30-somethings in all-star goalkeeper Zach Thornton, 36, and defenders Ante Jazic, 34, and Alex Zotinca, 33. Any or all of them might decide to call it a career.
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