SPORTS
May 24, 2012 | By Philip Hersh
When historians of such things seek the moment the U.S. Olympic Committee found a way to forge the agreement Thursday that put the U.S. back in the game as a potential Olympic Games host, they need look no further than Oct. 7, 2009. It was five days after Chicago had suffered a humiliating first-round loss in the International Olympic Committee vote for host of the 2016 Summer Olympics. There quickly followed calls for heads in the USOC leadership to roll. It was the day USOC Chairman Larry Probst got so angry about being called out by some of his constituents, including athletes and the heads of the national sports federations, that he vowed to show them.
BUSINESS
May 23, 2012 | By Tiffany Hsu
Macy’s Inc. is pairing up with Omei.com, a new Chinese e-commerce site, to sell some of its private brand items to consumers in the growing Asian market. The department store chain, which also owns Bloomingdale’s, invested $15 million in Omei’s parent VIPStore Co. Macy’s will get its own section on the Omei website, where product orders will be filled locally in Chinese facilities. Macy’s will start selling women’s and men’s fashions from its I.N.C. label on Omei starting in spring 2013.
ENTERTAINMENT
May 23, 2012 | By Ben Fritz
"Clueless," "Mission: Impossible III," "Forrest Gump" and several hundred other older films are now available on Amazon.com's Netflix-like subscription video service as part of a new deal with Paramount Pictures. Amazon has been continually beefing up the content in its Prime Instant Video service, which lets users stream unlimited movies and television shows on computers and digitally connected devices.
BUSINESS
May 23, 2012 | By Tiffany Hsu, Los Angeles Times
Benihana Inc., the Japanese-style and sushi restaurant chain known for slicing, dicing and frying food in front of diners, has accepted an offer to be sold to a private equity group for $296 million. Angelo, Gordon & Co. plans to pay Benihana shareholders $16.30 a share in cash in a transaction that's been approved by the Miami-based chain's board. Benihana shareholders must also approve the acquisition. The price is a premium of 46% over the average closing price for the 30 days before March 13, when Benihana first said it was exploring strategic alternatives for its business.
ENTERTAINMENT
May 23, 2012 | By Richard Verrier
Beverly Hills-based RealD Inc. is further expanding its presence in China. The 3-D equipment supplier said Wednesday it had a signed a deal to install 100 3-D screens for the Bona Film Group's theater circuit in China. Bona, a leading film distributor in China, plans to install RealD 3-D systems at each of the company's 11 theater locations. "3-D technology gives moviegoers a more immersive visual experience, which takes the movie business to a new level," said Don Yu, chairman and CEO of Bona Film Group.
OPINION
May 23, 2012 | By Chuck Freilich
It is a bad outcome - but it is the least bad of the available options. When world powers meet with Iran on Wednesday in Baghdad, they may reach an interim nuclear deal. Its precise outline is unknown, but it reportedly includes Iran's agreement to cease weapons-grade uranium enrichment, ship its existing stockpile abroad for conversion into reactor fuel, and accept heightened inspections of its nuclear infrastructure. In exchange, Iran would be allowed to continue enrichment at low levels, and the punishing new American banking sanctions and European Union oil sanctions due on July 1 would be eased.