April 7, 2014 |
Irish pharmaceutical giant Mallinckrodt Pharmaceuticals said it will pay $5.6 billion in cash and stock for a fast-growing Anaheim bio-pharmaceutical firm that specializes in treating multiple sclerosis, the companies announced Monday. The deal for Questcor Pharmaceuticals Inc. would give Mallinckrodt drugs that primarily treat chronic autoimmune and inflammatory disorders. Questcor's Acthar Gel, used in the treatment of multiple sclerosis, accounts for most of the company's sales.
April 6, 2014 |
The stock market is hitting new highs - just as corporate profit growth is slowing to a crawl. Rising earnings helped drive share prices to a series of record peaks in the last few years. But that dynamic could be tested this week when companies such as Alcoa Inc. and JPMorgan Chase & Co. begin releasing first-quarter results. Quarterly profits are expected to drop for just the second time in four years. The decline would be relatively small: 1.2% for companies in the Standard & Poor's 500 index, according to FactSet Research Systems.
April 6, 2014 |
SACRAMENTO - The recent hacking of customer data from Target Corp. computers is roiling the California Legislature. Last week, two members of the Assembly touted a bill to strengthen consumer safeguards and limit the type of information collected and retained by retailers. The measure, AB 1710, may trigger one of the year's biggest disputes over business-related legislation. "It'll be a big fight, a tough fight," said Bill Dombrowski, president of the California Retailers Assn.
April 5, 2014 |
There's nothing opera buffs like better than a climactic death scene. But the one that San Diego Opera scripted for itself has gone over so badly that its leaders are now trying to write a new ending. Last month's sudden announcement that the opera would shut down just short of its 50th anniversary next year raised an outcry from patrons and company members alike, who said they didn't have any advance warning of the company's escalating financial troubles. A faction of the board, which has close to 60 members, has succeeded in getting the closure postponed by two weeks, to April 29, in hopes that last-ditch pleas for donations can keep the lights on. More than 20,000 people have signed an online petition calling for the opera to be saved.
April 5, 2014 |
While a Punch and Judy version of "The Taming of the Shrew" has possibilities, the Shakespeare play that would seem to work best with puppets is undoubtedly "A Midsummer Night's Dream. " And whole moonlit swaths of the Bristol Old Vic's production of "Midsummer," a collaboration with South Africa's Handspring Puppet Company, bewitchingly bear this out. The magic proves hard to sustain for this innovative revival, now at the Broad Stage through April 19, but not before luring us deep into the enchanted world of this supernatural romantic comedy.
April 4, 2014 |
TrueCar .com, the Internet car-shopping company backed by Microsoft Corp. co-founder Paul Allen and insurance giant USAA , plans an initial public stock offering. The Santa Monica company has grown rapidly over the last year by offering a platform for car shoppers to get an “upfront” price from dealers, thereby avoiding most of the haggling that occurs in auto shopping. TrueCar's revenue jumped 68% last year from 2012, to just under $134 million, but the company has never been profitable.
April 3, 2014 |
Amid ongoing controversy over its killer whale shows, SeaWorld Entertainment Inc. reported a 13% drop in attendance for the first three months of the year. The attendance numbers were included in a notice to the Securities and Exchange Commission that SeaWorld was buying 1.75 million of its own shares from private equity firm Blackstone Group. The notice said attendance for the quarter that ended March 31 dropped to about 3.05 million visitors from 3.5 million in the same period in 2013.
March 30, 2014 |
SAN FRANCISCO - It's becoming a familiar scene in everybody's favorite city - luxury shuttles with Wi-Fi and plush seats barreling past sluggish, dilapidated city buses crammed with local residents standing elbow to elbow. The nerd convoy, ferrying workers to technology companies in Silicon Valley, has raised the ire of civic activists who see it as a symbol of a divide between the haves and have nots as the region's tech boom has sent housing costs and evictions soaring. But as heated as that backlash has become at times, it has obscured a much broader story that these buses have to tell about changes sweeping across not just San Francisco but also the entire Bay Area.
March 30, 2014 |
Question: I'm the president of our homeowner association mainly because no one else wants the job. We live in a prestigious area of Los Angeles and have fewer than 30 units. Because nobody wants to be on our board we hired a management company. They're not a California company. Their head office is out of state, and we've never seen or been to their California place of business and do not know where it is or that they even have a California office. A management representative came and picked up our files and documents, including owners' personal information and accounts, and gave us their P.O. box number.
CALIFORNIA | LOCAL
March 27, 2014 |
Utility giant Pacific Gas & Electric Co. said Thursday it expects federal officials to bring criminal charges against the company in connection with a 2010 gas pipeline blast that devastated a San Bruno neighborhood and killed eight people. PG&E said it was negotiating with the U.S. attorney's office for some type of resolution but provided few details. A spokesperson for the office in San Francisco declined to comment on the investigation or say what if any charges were being considered.