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Fiscal Year

July 12, 2013 | By Richard Verrier
Santa Clarita's film business reached a record level in the last fiscal year, fueled by such television shows  as "Justified" and "Franklin and Bash. " The suburban northern Los Angeles County city generated 1,069 film days in the year ended June 30, an 18% increase compared to last year's level, which was also a record, the city said. Film and TV productions spent an estimated $25.7 million in the Santa Clarita area during the fiscal year, up 22% from the prior year. "Santa Clarita is one of Hollywood's first choices for location filming, as shown by yet another strong year for location filming,” Mayor Bob Kellar said in a statement.  “Filming is a big part of our business community and local economy, supporting high-paying jobs and hundreds of companies involved in the industry.”  ON LOCATION: Where the cameras roll In March 2012, the City Council approved a three-year extension of the city's Film Incentive Program, which refunds permit fees to locally-based productions, those that film on location four or more times in a year, as well as those that qualified for the state of California's film and television tax credit program.  Santa Clarita locations have doubled for many cities around the world, including New York, Washington and Paris.
July 9, 2013 | By Tiffany Hsu
Kroger Co., the Cincinnati-based grocery giant that owns chains such as Ralphs and Food 4 Less, is heading for Wal-Mart territory with its $2.5-billion purchase of Harris Teeter Supermarkets Inc. Taking over the Matthews, N.C., company and its 212 stores will give Kroger control over 2,631 total supermarkets in 34 states and Washington, D.C. Harris Teeter - which Kroger said operates in high-growth markets, vacation destinations and university towns...
May 30, 2013 | By Ruben Vives
City leaders in scandal-battered Cudahy are asking the state to audit the city's finances and internal controls in the wake of a series of city hall bribery arrests. Last year, three officials in the working-poor L.A. County city -- including two long-term council members -- were hauled away by FBI agents for extortion and bribery. The cases revealed a city marred by corruption, election fixing and drug use in city hall, officials said. Now, the newly elected mayor and vice-mayor of Cudahy are asking State Controller John Chiang to audit the city's finances and internal controls.
May 11, 2013 | Hugo Martín, Los Angeles Times
The 149 air traffic control towers that were scheduled to close this summer because of federal sequestration will remain open until at least September, government officials said Friday. The Federal Aviation Administration said legislation approved by Congress last month allows the agency to transfer funds from other accounts to keep the towers open until the end of the fiscal year. The towers, run by contract workers, operate at small airports such as Brown Field Municipal Airport in San Diego, Riverside Municipal Airport, Whiteman Airport in Pacoima, Oxnard Airport, Southern California Logistics Airport in Victorville and Fullerton Municipal Airport.
April 10, 2013 | By Jim Puzzanghera and E. Scott Reckard, Los Angeles Times
WASHINGTON - The Federal Housing Administration helped stabilize the real estate market after the subprime bubble and lay the groundwork for the recovery - and now the bill for taxpayers might be coming due. The Obama administration's proposed budget released Wednesday projected that the agency, which insures more than $1 trillion in mortgages, would need a $943-million bailout this year to stabilize its shaky long-term finances. It would be the first time the FHA, which is financed by the premiums it charges homeowners, has needed taxpayer funds in its 79-year history.
March 15, 2013 | By Chris Megerian
California tax revenue slowed in February but is still far outpacing expectations, according to a report released Friday. The report , released by Gov. Jerry Brown's Department of Finance, showed income tax revenue falling 20% below projections in February. Sales tax revenue fell slightly behind the month's goal. The shortfalls chip away at the state's multi-billion-dollar surplus. At the end of January, the state had collected $5.1 billion more tax revenue than expected.
January 23, 2013 | By Tiffany Hsu, This post has been updated. See the notes below for details
Ikea Group, the Swedish home goods retailer currently residing in 298 blue-boxed stores in 26 countries, wants to expand. Just don't rush it. The company opened 11 new stores in nine countries in its fiscal year ended Aug. 31 - buying the land and buildings instead of renting in most cases. It also added 8,000 workers, bringing its headcount to 139,000 employees. And that growth pace is just fine for now, Ikea said in its annual report . “We want to continue to grow,” company executives wrote.
October 30, 2012 | By Ben Fritz
Gamers can finally start carjacking again. "Grand Theft Auto V" will be released in the spring of 2013, publisher Take-Two Interactive announced Tuesday. The company's Rockstar Games subsidiary confirmed earlier this year that the sequel to 2008's hit "Grand Theft Auto IV" was in the works, but did not disclose a release date. The spring timing is significant as Take-Two's fiscal year ends on March 31. With spring not officially starting until March 20, it is very likely that "Grand Theft Auto V" will be released in the company's fiscal 2014.
October 16, 2012 | By Neela Banerjee
Mitt Romney said "the president cut in half the number of licenses and permits for drilling on federal lands and in federal waters. " According to the Bureau of Land Management, in fiscal year 2011, 2,188 leases were issued for energy development on federal lands.  Four years earlier, in fiscal year 2007, 3499 leases were issued. So, not quite a 50% drop, but a drop nonetheless. However, the biggest drop-off came in fiscal year 2008, to 2,416 leases. The fiscal year for the federal government starts Oct. 1, 2007, so that decline began under the Bush administration.
October 11, 2012 | By Dalina Castellanos, Los Angeles Times
Small businesses in the Western region that includes California took out more U.S.-backed loans than ever during the government's last fiscal year, but they didn't spend much of it in a way that generated new jobs, analysts said. The Small Business Administration said companies in the region, which also covers Arizona, Nevada, Hawaii and Guam, borrowed $6.7 billion in loans guaranteed by the agency. Firms in Los Angeles, Ventura and Santa Barbara counties took out loans totaling $1.5 billion, which the SBA called a "robust" amount.
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