May 11, 2013 |
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 |
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.
CALIFORNIA | LOCAL
March 15, 2013 |
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 |
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 |
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 |
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 |
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.
September 4, 2012 |
Some members of the British Parliament felt News Corp. Chief Executive Rupert Murdoch was not "fit" to lead his sprawling media company in the aftermath of the continuing phone-hacking scandal in London. But News Corp. directors felt differently, bestowing Murdoch with a $30-million compensation package in the company's 2012 fiscal year. The amount, however, represented a nearly 10% decline -- or $3 million cut -- over Murdoch's fiscal 2011 compensation of $33.3 million, according to regulatory filings Tuesday.
July 30, 2012 |
Executives at Lions Gate Entertainment Corp. received significantly increased bonuses in the last fiscal year, following the Santa Monica studio's successful launch of "The Hunger Games," its acquisition of Summit Entertainment and a more than 100% rise in its stock price. Details on the compensation of top executives at Lions Gate were disclosed in the company's proxy filing with the Securities and Exchange Commission before its annual meeting, which will be held Sept. 11 in Toronto.
June 14, 2012 |
Shares of Kroger Co. rose the most in more than three years after the operator of Ralphs and Food 4 Less boosted its annual profit forecast and announced a $1-billion share buyback. The Cincinnati company's shares advanced 6.1% to $22.58, the biggest gain since March 2009. The shares have dropped 6.8% this year. Profit for the fiscal year ending Jan. 31 will be as much as $2.40 a share, up from a prior forecast of as much as $2.38, the company said Thursday. That compared with the $2.32 average that analysts expected in a Bloomberg survey.