BUSINESS
December 16, 2009 | By Jim Puzzanghera
Looking for new ways to help plug the leaky job market, President Obama pressed Congress to provide money to homeowners to improve energy efficiency -- and the economy -- by replacing doors, caulking windows and padding their attics with more insulation. Obama admitted that the "idea may not be very glamorous" but declared Tuesday that he found insulation "sexy." Lawmakers also are getting excited by the concept, which they said could help create badly needed jobs for the beleaguered building trades.
BUSINESS
December 2, 2009 | By Dina ElBoghdady
The uneven nature of the economic recovery was on display again Tuesday with the release of mixed data on pending home sales, manufacturing and construction spending. The residential real estate market showed signs of gaining momentum in the new data, while manufacturing appeared to lose steam after a growth spurt over the summer. More troubling, the commercial real estate sector seemed to be in "free fall," as one analyst put it. All told, the data did little to help economists assess how fast the economy was growing and whether that growth would be strong enough to generate jobs.
CALIFORNIA | LOCAL
November 25, 2009 | By Valerie J. Nelson
Hoyt S. Pardee, who with his two brothers transformed a family construction company into a leading Southern California home builder, died of pancreatic cancer Monday at his home in Los Angeles, his family announced. He was 91. The brothers and their company, Pardee Construction, had built more than 30,000 homes by 1985, when they were among the first builders inducted into a statewide hall of fame sponsored by the California Building Industry Assn. Formed in 1946 in Los Angeles, the company became one of the more prolific home builders in the region after World War II, constructing housing tracts around Los Angeles, San Diego and Las Vegas.
BUSINESS
November 18, 2009 | Roger Vincent
After more than a year of meager activity, the nation's architects reported a growing number of new contracts in October from builders preparing to get real estate developments off the ground. It was the highest level of new business for the nation's architects since August 2008, a report from the American Institute of Architects says. "This news could prove to be an early signal toward a recovery for the design and construction industry," said Kermit Baker, the AIA's chief economist.
CALIFORNIA | LOCAL
October 13, 2009 | Patrick J. McDonnell
Pablo Nuñez, a carpenter by trade, says he is accustomed to working 10-hour shifts, sometimes six days a week, on home-building sites throughout Southern California. But legally mandated overtime pay was almost as unheard of at job sites, he says, as visits from labor inspectors. "The only person getting overtime might be the brother of the foreman," Nuñez said. The Corona resident is among 85 residential construction workers from California, Nevada and Arizona who will share $242,301 in unpaid wages after settling a federal lawsuit last month against a major home-builder, Boise, Idaho-based Building Materials Holding Corp.
BUSINESS
July 25, 2009 | Jim Puzzanghera
President Obama's plan for a powerful new agency to protect consumers from shady financial products is coming under increasing fire from the industry it would regulate and its allies in Congress, forcing backers to delay action on legislation to put the plan in force. The proposed Consumer Financial Protection Agency would have broad authority to make consumer protection rules for credit cards, bank accounts and other financial products.