BUSINESS
May 14, 2013 | By Daniel Miller and Meg James, Los Angeles Times
Sony Corp. stock soared in afternoon trading after New York hedge fund Third Point proposed that the electronics and media giant make an initial public stock offering of up to 20% of its entertainment arm. That unit, known as Sony Entertainment Inc., includes film and television studio Sony Pictures Entertainment, Sony/ATV Music Publishing and Sony Music Entertainment. The proposal also raised the specter of a possible Sony alliance - perhaps with CBS Corp., whose CEO Leslie Moonves has long dreamed of running a movie studio.
ENTERTAINMENT
May 14, 2013 | By Meg James
New York hedge fund manager Daniel Loeb wants Japanese electronics giant Sony Corp. to spin off its Culver City entertainment business. CBS Corp. might like that, too. Loeb, whose Third Point funds own more than $1 billion in Sony stock, sent a letter Tuesday to Sony's chief executive, Kazuo Hirai, suggesting an initial public offering of 15% to 20% of Sony Pictures Entertainment. ON LOCATION: Where the cameras roll Sony said that its Hollywood operations are not for sale, and a CBS corporate spokesman declined to comment on "rumor and speculation.
CALIFORNIA | LOCAL
May 12, 2013 | By Louis Sahagun, Los Angeles Times
The Catalina Island Museum has opened a window into a dark period of life on the island with an exhibition devoted to a pseudoscientist who looted Native American graves for profit eight decades ago. "The Strange and Mysterious Case of Dr. Glidden," which opened over the weekend, examines the life and times of Ralph Glidden, a hucksterish entrepreneur who in the 1920s and '30s excavated bones and relics from Tongva Indian burial grounds for sale...
CALIFORNIA | LOCAL
May 12, 2013 | By Valerie J. Nelson, Los Angeles Times
In a Hollywood auditorium, James L. Tolbert tried to induce a room packed with broadcasting and advertising executives to essentially join the civil rights movement in 1963 by pointing out the obvious. "We Negroes watch 'Bonanza' and buy Chevrolets. We watch 'Disney' on RCA sets," proclaimed Tolbert, an entertainment attorney who was speaking to the 125 invited guests in his role as president of the NAACP's Beverly Hills-Hollywood branch. "We buy all the advertised products, the same as you do. " Delivered weeks before the March on Washington, the speech pointed out the absence of African Americans on both sides of the camera.
BUSINESS
May 11, 2013 | By Andrea Chang, Los Angeles Times
It seemed like a typical dinner party for the well-heeled set: eight women, some dressed in stilettos and skinny jeans, gabbing over glasses of wine and endive spears with goat cheese at a lavish Hollywood Hills home. But amid the Kate Middleton pregnancy chatter and a debate on the best mascara brands, the conversation turned to mobile app strategies and the latest tech companies to score millions of dollars in venture capital funding. Not too long ago, such meet-ups among tech-savvy women - or men, for that matter - were a rarity in Los Angeles.
BUSINESS
May 10, 2013
The financial crisis fueled anger with the world's "takers" - those people who "like to get more than they give," in author Adam Grant's pithy definition. Everyone is searching for a sustainable formula for recovery that not only curbs damaging self-interest but also promotes a meaningful alternative. Here it is. Grant's new book, "Give and Take: A Revolutionary Approach to Success," published by Viking, is perfectly timed and beautifully weighted. An organizational psychologist, Grant crushes the assumption that me-first takers always reach the top of the ladder.