August 12, 2013 |
Seeking to assuage concerns about management stability at Digital Domain, the new owners of the struggling visual effects company announced promotions of two veteran executives. Following the recent resignation of the respected Ed Ulbrich as chief executive officer, the Venice-based studio, which now goes by the name Digital Domain 3.0, said Monday it has promoted Terry Clotiaux to president of its feature film production division and Rich Flier to president of its advertising and games division.
August 8, 2013 |
The nation's top housing finance regulator threatened to choke off mortgage lending in cities that use eminent domain to seize underwater loans from lenders. The salvo from the Federal Housing Finance Agency came Thursday, on the heels of a lawsuit directed by major Wall Street firms and U.S.-sponsored mortgage giants Fannie Mae and Freddie Mac against the Bay Area city of Richmond. Richmond is the first to push forward with the plan, also being debated in cities across the state and nation.
August 7, 2013 |
Wall Street firms are directing a lawsuit aimed at blocking the city of Richmond's proposed use of eminent domain to write down mortgage loans for certain residents. Richmond last week became the first city in the country to press forward with the controversial eminent domain mortgage plan, which has come under debate in a variety of municipalities for more than a year. San Francisco firm Mortgage Resolution Partners, which is also named as a defendant in the suit, first marketed the plan last year to San Bernardino County and two of its cities, Fontana and Ontario.
August 6, 2013 |
The Phoenix Suns have purchased a unique Internet domain name. According to the website Domain Name Wire , the Suns spent $5,300 to buy the domain "beat.la" -- a nod to the Suns long-time rivalry with the Lakers. Technically the ".la" is a country code for Laos, but it's somewhat of a creative loophole. The Lakers may not actually consider Phoenix a rival, but rivalries are not always a two-way street. The Suns may be able to double-up their usage on their new registration with the Clippers now a power in the Pacific Division.
August 6, 2013 |
Cities in the Golden State are once again testing a controversial mortgage relief plan that could use local eminent domain powers to help residents stung by the last housing crisis. El Monte is the latest city to weigh the plan - opposed by the financial industry but embraced by some housing advocates and city councils. California became the center of the national debate over the idea last year when San Bernardino County and two of its cities, Ontario and Fontana, toyed with adopting the strategy.
July 30, 2013 |
Richmond is adopting a plan to take over underwater mortgages that would invoke the city's eminent domain powers if necessary. The city will be the first in the nation to formally adopt the novel but controversial plan that was rejected by San Bernardino County and two of its cities earlier this year. The city said it will buy home mortgages from financial institutions, write down those loans and refinance homeowners in the properties into new loans. If financial institutions do not cooperate, the city will seize the loans using eminent domain, Richmond Mayor Gayle McLaughlin said.
July 30, 2013 |
Richmond is taking action on its housing crisis, but is the California city going too far in its mission to save homeowners from underwater mortgages? On Tuesday, Richmond sent notices to holders of underwater mortgages asking them to sell their loans to the city or risk having the city use eminent domain to seize residential mortgages. While other cities have considered adopting a plan that would allow them to invoke eminent domain, Richmond appears to be the first city to do so. It's a controversial move in part because “eminent domain is usually used to seize land -- not loans -- to serve the public good, as when local governments seize blighted properties,” explains Times reporter Alejandro Lazo.
June 29, 2013 |
America's failure to solve the continuing mortgage crisis is the most serious lapse in the aftermath of the 2008 subprime meltdown. Several decades of increased homeownership rates in working-class and minority communities have been wiped out. Most homeowners who lost equity, or their homes, were not speculators but innocent bystanders caught in the downdraft of the housing prices that followed. The Obama administration's mortgage relief program has helped only about 10% of the more than 13 million households still at risk of foreclosure because of "underwater" mortgages - those worth more than the value of the homes.
June 13, 2013 |
A filmmaker is suing to make the song "Happy Birthday to You" free for everyone to use. The plaintiff, Good Morning to You Productions Corp., a New York-based company that is making a documentary about the song, said it belongs in the public domain. Warner/Chappell Music Inc., the publishing arm of Warner Music Group, owns "Happy Birthday to You," meaning it has exclusive rights over the song's reproduction, distribution and public performances....
May 17, 2013 |
Jill Bernheimer is the proprietor of the sweet little wine shop Domaine LA . After working many years in the film business for producers and then as an independent producer, she says laughingly, the film business drove her to drink. “Wine was always something I was passionate about, and in 2007 I started my shop as a website," she said, "and then in September 2009 I opened up the brick-and-mortar on the edge of Hollywood and Hancock Park.” The shop is known for its eclectic selection of wines, and she likes to say taht “the wines that we carry are honest wines made by people, not by corporations.” What's your favorite wine region to visit?