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SPORTS
August 25, 2012 | By Kevin Baxter
Manchester United's decision to go public this month by selling shares on the New York Stock Exchange is another reminder that the financial foundation of European soccer remains in desperate need of repair. Man-U is among the most storied and iconic brands in global sports - and after being valued at $2.2 billion, it's also the most expensive sports franchise in the world. The New York Yankees are relative upstarts when compared to Manchester United, which started play in 1878, a decade before Jack the Ripper claimed his first victim.
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CALIFORNIA | LOCAL
February 19, 2013 | By Jean Merl
Former Democratic presidential nominee Michael Dukakis and his wife, Kitty, are helping with a "debt retirement" fundraiser for Rep. Brad Sherman (D-Sherman Oaks), who last fall won one of the most contentious -- and most expensive -- House races in the nation. Dukakis, a onetime Massachusetts governor who also helped Sherman raise money during the campaign, and his wife will be guests at a reception Thursday at a home in Studio City. Sherman defeated longtime Rep. Howard Berman (D-Valley Village)
BUSINESS
February 1, 2011 | David Lazarus
Frank Cavestani and his wife fell behind on their Capital One credit card payments about a decade ago. Their accounts were subsequently closed by the lender, which wrote off about $2,000 in debt they couldn't pay. So it was more than a little strange when the Hollywood couple received a pair of bills from Cap One the other day for a combined $5,195.07 in debt and interest. Stranger still, when Cavestani contacted Cap One, he said a service rep told him the resurrecting of old loans is accommodated by recent credit card regulations approved by the Federal Reserve ?
CALIFORNIA | LOCAL
June 5, 2013 | By Rick Rojas
Two alleged pimps - accused of smuggling a Mexican woman into Orange County and forcing her into prostitution to pay off the debt of an ill family member - were arraigned Wednesday on charges related to human trafficking and prostitution, prosecutors said. Victor Lara Romero, 32, and Gustavo Romero Clemente, 35, have each been charged with one felony count of human trafficking, one felony count of pimping and one felony count of pandering, according to a statement from the Orange County district attorney's office.
CALIFORNIA | LOCAL
August 7, 2010 | By Scott Gold and Kim Christensen, Los Angeles Times
The small and cash-strapped city of Bell is on the hook for a $35-million bond debt that voters didn't approve — and that the city can't afford to pay off, The Times has learned. The debt, which Bell took on three years ago to buy land near the 710 Freeway, is more than twice the size of Bell's annual operating budget. Come November, the city could lose the land to foreclosure. The city's hope to profit from the purchase fell apart in 2008 after city officials failed to conduct basic environmental reviews.
CALIFORNIA | LOCAL
February 13, 2014 | Robin Abcarian
If you are a woman, Gloria Steinem is like an indispensable computer program, always running in the background of your life. You don't always remember that she's there, but without her, your life would be constrained in ways you can hardly imagine. Run for office? Lead a company? Become an engineer? Go to space? Work free of sexual harassment or live on equal legal footing with your husband? Control your own reproductive fate? So many of the rights that women enjoy -- even the most conservative women -- exist because of relentless feminists like Steinem, who, at 79, shows no signs of slowing down.
BUSINESS
February 4, 2010 | By Ronald D. White
Moody's Investors Service has downgraded $1.7 billion in bonds for the Alameda Corridor Transportation Authority, which oversees the 20-mile rail route built to speed the flow of cargo from the ports of Los Angeles and Long Beach to retail shelves across the U.S. Moody's on Wednesday lowered ratings on the senior lien bonds to A3 from A2 and subordinate lien bonds to Baa1 from A3. It also put the ratings on a watch list for possible further downgrades....
BUSINESS
May 8, 2011 | Liz Weston, Money Talk
Dear Liz: About two years ago, I bought a new car but was lied to about how much it would cost. After a year I simply could not afford the car and could not refinance as I was incredibly upside-down. The auto lender wasn't willing to help, so I did a voluntary repossession. Nissan came after me for the balance remaining after auction but eventually wrote it off as a bad debt (this shows on my credit report). The debt has been sold twice to collection companies that call me on my cellphone and at work but don't leave messages.
CALIFORNIA | LOCAL
October 25, 2000
As a supporter of debt relief for the world's poorest countries (Oct. 19), I am happy to learn that Congress may increase the U.S. debt-relief commitment to $435 million. A victory for the pro-debt-relief coalition? Yes. But generous? No. It's less than one-fourth the cost of one B-2 Stealth bomber. PAT REIF Claremont
CALIFORNIA | LOCAL
July 24, 1986
Could someone explain the value of jump-starting an economic recovery, already sustained for 3 1/2 years by debt, with lower interest rates and yet, more debt? Whenever companies or individuals try this method, as I did some 16 years ago, the result is disaster and for many, like me, bankruptcy. Debt upon debt is not recovery, but, a growing bubble of bills and when it explodes it will drop IOUs on my kids and grandchildren. Of course the reply envelope will be addressed to Washington, D.C. PAUL RICHARD San Francisco
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