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October 30, 2012 | By Andrew Tangel, This post has been updated. See the note below for details
U.S. stock markets plan to reopen Wednesday after being shuttered for two days following the arrival of Hurricane Sandy. The New York Stock Exchange's parent company, NYSE Euronext, said trading would commence as usual with a 9:30 a.m. EDT opening bell. The NYSE said it was in coordination with all U.S. stock, bond, options and derivatives markets. The New York Stock Exchange's building and trading floor are "fully operational" despite flooding in Manhattan's financial district.
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BUSINESS
March 30, 2014 | By Chad Terhune
After months of head counts for Obamacare, it is the medical bills that will start to matter now. Even before enrollment closes Monday, California has far exceeded its initial goals for signing up people under the Affordable Care Act. Although the sheer volume of 1.1 million policyholders is impressive for a brand new government program, the number of sicker patients is what's likely to draw the most attention. How sick they are and the size of their medical bills will be front and center in the weeks to come as insurers begin drawing up next year's insurance rates, which will become public this summer.
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MAGAZINE
December 15, 1996
Hats off to Evelyn Sheinkopf for her interesting article on old Los Angeles telephone exchanges ("Know the Code," So SoCal, Nov. 10). As I remember the '40s prefixes, ours was DRexel. As in the rest of the L.A. area, only four numbers followed the two letters. Other exchanges of that era were FItzroy, FEderal, YOrk and STate, to name a few. After World War II, I recall, DRexel, FItzroy, FEderal and, no doubt, some others were changed to DUnkirk followed by a five-digit number. Existing prefixes that made the cut, so to speak, were MUtual, MAdison, TRemont, TRiangle, WEbster and BRadshaw.
BUSINESS
March 28, 2014 | By Chad Terhune and Soumya Karlamangla
Strong consumer interest in Obamacare coverage ahead of Monday's enrollment deadline was leading to long waits and website trouble for some Californians. The Covered California exchange said sign-ups have been building throughout the week with about 80,000 people picking a health plan Monday through Thursday. An additional 150,000 households created an online account and started the shopping process in the last three days, officials said. That heavy volume was creating havoc, confusion and delays for many consumers, enrollment counselors and insurance agents trying to use the exchange's website.
OPINION
October 20, 2013 | By The Times Editorial Board
The new federally run health insurance exchanges have stumbled badly in trying to sign up customers online, stymied by both design flaws and inept execution. If the website's problems aren't solved soon, they could inflict a greater toll on the Affordable Care Act than the law's opponents have. There's some consolation in the fact that shoppers can sign up over the phone or in person, and that they can enroll as late as mid-December and still have coverage on Jan. 1. But the failures are mind-boggling and inexcusable, especially considering how much time the government had to prepare.
NEWS
October 4, 2013 | By Jon Healey
My colleague Chad Terhune in The Times' Business section has been faithfully cataloging the hiccups, glitches and failures experienced by the state's new health insurance exchange, Covered California, in its opening days. On Friday he laid out the most serious of the shortcomings reported so far: The health plans don't yet provide an online list of the doctors and hospitals participating in their networks. This is a crucial issue, as faithful Terhune readers know, because some insurers are including fewer doctors and hospitals in their Covered California offerings in order to cut costs.
OPINION
February 8, 2012
The 2010 healthcare reform law gave states until Jan. 1, 2014, to create "exchanges" in which individuals and small businesses could shop for insurance policies. If the states don't, the federal government will operate exchanges for them. The requirement poses a quandary for lawmakers who oppose the federal law: Should they start working on an exchange, or count on the law being repealed by the Supreme Court or by a new Republican-controlled Congress and White House in 2013? The answer is that each state should set up an exchange regardless of how its lawmakers feel about "Obamacare," because it would help ameliorate the very real problems consumers face in the health insurance market.
NATIONAL
January 4, 2013 | By Noam N. Levey, Washington Bureau
WASHINGTON - The Obama administration has cleared what could be the final group of states to open their own health insurance exchanges this fall, advancing a key goal of the 2010 healthcare law to provide Americans with new options to shop for coverage. The conditional approvals announced for California, Hawaii, Idaho, Nevada, New Mexico, Vermont and Utah mean 17 states and the District of Columbia are on track to operate their own insurance exchanges this year. Exchanges in the remaining states will be run by the federal government or by state-federal partnerships.
BUSINESS
October 30, 2012 | By Andrew Tangel
Stock and options exchanges are losing $1 million in transaction fees each day they are closed because of Hurricane Sandy , according to an industry analyst's estimate. Richard Repetto, a principal at Sandler O'Neill, said the giant storm would likely cost NYSE Euronext, Nasdaq OMX Group and the Chicago Board Options Exchange $1 million in net trading revenues each day they are closed. But the closures of the exchanges Monday and Tuesday would likely cost a loss of a penny or less of earnings-per-share for the public companies that operate the exchanges, Repetto said in a note.
NEWS
April 26, 2012 | By Dylan Hernandez
The Dodgers want to repay their fans who were inconvenienced by Mother Nature on Wednesday night. Ticket stubs from the Dodgers' rainy 4-2 loss to the Atlanta Braves can be redeemed for free reserve-level tickets to a May 14 game against the Arizona Diamondbacks or a May 31 game against the Milwaukee Brewers. Ticket stubs from April 13 can also be exchanged for May 14 or May 31 tickets. Exchanges can be made at the advance ticket window at Dodger Stadium's parking lot P between 9 a.m. and 5 p.m. from Monday through Saturday.
OPINION
March 25, 2014 | By The Times editorial page
Opponents of the Affordable Care Act have mounted the most far-reaching legal challenge to the law since the (unsuccessful) attempt to have its insurance mandate declared unconstitutional. At issue is whether the subsidies the law provides to help lower-income adults buy policies will be available in the 34 states with federally launched insurance exchanges, rather than just the state-operated ones. The Internal Revenue Service ruled that any American who meets the income limits can qualify for a subsidy; the plaintiffs say subsidies should be available only in the 16 states that set up their own exchanges.
BUSINESS
March 19, 2014 | By Soumya Karlamangla and Chad Terhune
Under fire for a shortage of Latino sign-ups for Obamacare, the state's health insurance exchange is looking for a booster shot from a well-established Southern California clinic chain. One recent weekday, Maria de Lourdes Martinez sat at a cubicle inside an AltaMed enrollment office in East Los Angeles browsing through the health plans available under the Affordable Care Act. Martinez, 49, of Rosemead, came to this strip-mall storefront across from a Starbucks because she'd brought her grandmother to an AltaMed clinic before.
BUSINESS
March 13, 2014 | By Chad Terhune and Soumya Karlamangla
California is nearing 1 million people enrolled in Obamacare coverage, but the state's insurance exchange is still running behind in signing up Latinos and young people. In figures released Thursday, the state said 923,832 people had picked a health plan through March 9, and about 1.5 million people have enrolled or been deemed eligible for an expansion of Medi-Cal, the state's Medicaid program for the poor. But the overall rate of health plan sign-ups slowed during February, partly hurt by a five-day outage of the state's enrollment website.
BUSINESS
March 5, 2014 | By Chad Terhune
A Republican state lawmaker sued California's health insurance exchange, saying it overstepped its authority by refusing to allow more than 900,000 people to keep their existing health policies. In his suit, state Sen. Ted Gaines (R-Rocklin) said the Covered California exchange violated federal and state laws by requiring participating health plans to cancel policies by Dec. 31 that didn't comply with new requirements of the Affordable Care Act. The issue of cancellations for about 900,000 individual policyholders in California and several million nationwide has sparked widespread criticism of President Obama's healthcare law. Many consumers got new, improved coverage at lower rates as a result of federal premium subsidies.
BUSINESS
February 26, 2014 | By E. Scott Reckard
The latest examples of the seemingly endless government probes of Bank of America Corp. focus on foreign exchange and Federal Housing Administration lending practices, the Charlotte, N.C., giant has disclosed. Banks are filing 10-K annual reports with the Securities and Exchange Commission this week, scattering news of investigations opening and closing behind them. Morgan Stanley said Tuesday it had reached a $275-million settlement with the SEC staff over subprime mortgage securities.  In its 10-K, also out Tuesday afternoon, Bank of America said “government authorities” in North America, Europe and Asia are investigating “a significant number“ of participants in the foreign exchange, or FX, market.
BUSINESS
February 25, 2014 | By Chris O'Brien, This post has been updated, as indicated below.
Rumors about the possible collapse of leading Bitcoin exchange Mt. Gox are sending shock waves through the community that has embraced the virtual currency.  Amid radio silence from the company, users are attempting to sort through conflicting signals that the company has shut down or that it is being acquired and possible relaunched. [Updated 9:30 a.m., Feb. 25: Mt. Gox issued a short statement : " In light of recent news reports and the potential repercussions on MtGox's operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users.
BUSINESS
December 12, 1985
Pan Electric Industries' chief shareholder signed an agreement enabling the debt-laden firm to resume normal trading for the first time since a dramatic collapse that forced the Singapore and Malaysian stock exchanges to suspend trading for three days. Millionaire businessman Tan Koon Swan signed the agreement giving the company $20 million in new funds.
BUSINESS
February 25, 2014 | By Chris O'Brien and Andrew Tangel
It was supposed to revolutionize the global monetary system. Instead, the bitcoin virtual currency that has captured the imagination of investors and financiers is on the verge of collapse. In a stunning blow to a novel way to buy products and services, the world's largest exchange for trading bitcoin currency shut down Tuesday, triggering a massive sell-off and sending many prospective investors away - perhaps for good. "This is extremely destructive," said Mark Williams, a risk-management expert and former Federal Reserve Bank examiner.
CALIFORNIA | LOCAL
February 24, 2014 | By Victoria Kim and Patrick McGreevy
Facing a 24-count federal indictment and the threat of a vote from colleagues to suspend him from office, embattled state Sen. Ronald S. Calderon said through an attorney Monday that he had no immediate plans to step down from his Senate seat. Calderon, a Montebello Democrat, appeared in a downtown Los Angeles courtroom Monday and pleaded not guilty to charges that he took nearly $100,000 in cash in exchange for favors that, among other things, helped facilitate a $500-million healthcare fraud scheme.
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