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BUSINESS
February 6, 2014 | By Roger Vincent
Broadway, the sparkling entertainment district of mid-20th-century Los Angeles, had a long fall. As residents moved to the suburbs, opulent movie palaces dating to the early days of the film industry closed their doors. Upscale shops were closed, and department stores decamped for newer neighborhoods in the 1970s and 1980s. Businesses catering primarily to Latino immigrants kept the sidewalks active, but most buildings fell empty above the first floor. Much of downtown has enjoyed a renaissance since 2000.
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BUSINESS
February 5, 2014 | By Roger Vincent
CBRE Group Inc., the world's largest commercial real estate brokerage, reported an 11% jump in revenue during the fourth quarter, led in part by thriving property markets in Europe, the Middle East and Africa. Profit was down from the same period in 2012, however, as the Los Angeles company wrote down $106.6 million primarily on the decreased value of its investment pools in Europe Southern California's housing recovery Fourth-quarter net income was $114.6 million, or 34 cents a share, down from $173 million, or 53 cents, a year earlier.
WORLD
February 3, 2014 | By Robyn Dixon
JUBA, South Sudan -- Nelson Mandela left an estate worth about $4.1 million -- a minuscule fortune compared to the wealth of many African leaders -- to his widow, Graca Machel; other family members; staff; and educational institutions, according to a reading of his will in South Africa on Monday. He also left a generous portion of the royalties from the sale of his books and other items to the African National Congress, to be distributed through a trust and used to promote the governing party's ideas and national reconciliation.
BUSINESS
February 1, 2014 | By Lauren Beale
"Twilight" film series vampire Robert Pattinson found a warm body to pay $6.375 million for his Los Feliz home. Jim Parsons of "The Big Bang Theory" is the new owner. The 1922 Spanish Colonial-style house has a formal entry, a library/study, a den, three bedrooms, 3.5 bathrooms and 4,026 square feet of space in two stories. Antiqued tile and stone, hand-carved wood and stenciled ceilings maintain a vintage vibe. The 1.5-acre sloping lot, enclosed by walls, features a lagoon-style swimming pool, waterfalls and fountains.
ENTERTAINMENT
January 25, 2014 | By Noel Murray
Rush Universal, $29.98; Blu-ray, $34.98 Available on VOD beginning Jan. 28 Director Ron Howard and screenwriter Peter Morgan tell the story of 1970s Formula 1 racing stars James Hunt (Chris Hemsworth) and Niki Lauda (Daniel Brühl) in "Rush," a true-sports adventure that starts out as a "the olden days were groovy" corn-fest, then takes a turn for the better. The second half of the film concerns itself mostly with the incredibly tight points-battle between Hunt and Lauda throughout the 1976 season, and those racing sequences - some of which were shot with a subjective camera, in bad weather conditions - are white-knuckle.
BUSINESS
January 21, 2014 | By Andrea Chang
BlackBerry plans to sell the majority of its commercial real estate portfolio in Canada to bolster its financial position. The Canadian company said Tuesday that the real estate holdings, comprising more than 3 million square feet of space, would be sold through a combination of sale-leaseback and vacant asset sales. PHOTOS: Top 10 tech fails of 2013 Despite the sales, BlackBerry Chief Executive John Chen said the company "remained committed to being headquartered in Waterloo and having a strong presence in Canada.
HOME & GARDEN
January 17, 2014 | By Jeff Spurrier
Spring-like weather hasn't brought smiles at the Venice Community Garden. The locals who tend the garden's 54 plots recently learned that they have until the end of the month to clear out. With real estate prices rising, gardeners at the privately owned site learned more than a year ago that the property would go on the market someday. "But we were thinking in 10 years," said master gardener Kip Wood, one of the people who founded the community garden about four years ago. The number of community gardens in the Los Angeles area has grown to more than 100. The wave of popularity is so strong that leaders of the Los Angeles Community Garden Council have lost track of an exact count.
CALIFORNIA | LOCAL
January 15, 2014 | By Jeff Gottlieb
Michael Jackson's estate and Lloyd's of London have settled their lawsuit in which the insurer claimed it shouldn't have to pay $17.5 million on a tour cancellation policy after the singer died in June 2009. Jackson's estate countersued for breach of contract. Terms of the settlement are secret. “The estate, and, I'm sure Lloyd's, are glad the matter is resolved,” said Howard Weitzman,  an attorney for the Jackson side. Lloyd's claimed it did not have to pay because the singer did not reveal his drug use. Jackson died of an overdose of the anesthetic propofol administered at his home by Dr. Conrad Murray, as he was about to embark on a comeback series of concerts in London.
BUSINESS
January 12, 2014 | By Kenneth R. Harney
WASHINGTON - The federal government has a real estate question for consumers who have bought or refinanced homes that's certain to generate more than an earful: Were there any problems when you went to close the deal? Any last-minute glitches or surprises that delayed the settlement, required unexpected negotiations or, worst of all, blew up the sale or refinancing? Did you get your settlement sheet in advance so that you could review the documents intelligently? Were there any errors or discrepancies that popped up - charges that were considerably higher than you had expected, loan-related fees or an interest rate that differed from what you thought you had signed up for?
BUSINESS
January 8, 2014 | By Roger Vincent
A 1970s-era office building in the Westlake neighborhood near downtown Los Angeles that houses a branch of the L.A. Superior Court has sold for $50 million to prominent local real estate investor Jamison Services Inc. Jamison, one of the largest office landlords in Southern California, bought the building at 600 S. Commonwealth Ave. from a family trust managed by Comerica Bank. The 19-story building overlooking Lafayette Park in the Westlake neighborhood was completed in 1971 to house the Los Angeles offices of CNA Financial Corp., a Chicago insurance firm.
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