October 29, 2013 |
CBRE Group Inc., the world's largest commercial real estate brokerage, turned a $94-million profit in the third quarter of this year led by growth in lease activity in the United States and the overall real estate recovery in Europe. The Los Angeles firm said Tuesday that income from arranging transactions to buy or rent space in offices, warehouses and other commercial properties helped revenue increase 11% from the third quarter last year to $1.73 billion. Revenue from brokering property sales was up 29% over the same period.
October 29, 2013 |
Women who live in states with the greatest income gaps are at bigger risk of depression, according to a recent study. Living in states with a vast divide between the wealthy and poor makes people, especially women, more aware of their own financial circumstances and frustrated at being unable to keep up, according to a study published in the Journal of Epidemiology and Community Health. Roman Pabayo, co-author of the study and a researcher at Harvard University's School of Public Health, told Reuters that the team studied data from a national mental health report combined with their own calculations on income gaps in the 50 states.
October 28, 2013 |
Nutritional products maker Herbalife Ltd. reported a nearly 27% jump in third-quarter profit amid double-digit sales growth in China and Latin America. The Los Angeles company reported net income of $142 million, or $1.32 a share, for the three months ended Sept. 30. That compares with $111.9 million, or 98 cents, a year earlier. Excluding expenses for non-recurring items, the company earned $1.41 a share, well above analysts' expectations of $1.14 a share. Sales grew 19.3% to $1.2 billion.
October 17, 2013 |
If I were an entrepreneur in Washington, I'd be racing to print a bunch of T-shirts that said, "My tea party Republican shut down the government, and all I got was this lousy income verification mandate. " OK, so maybe that's not so snappy. But the point is a good one: After precipitating a government shutdown in a quixotic attempt to derail the 2010 healthcare law (better known as Obamacare), Sen. Ted Cruz (R-Texas) and his fellow tea party Republicans came away with a relatively minor change in the statute ... and nothing else.
October 16, 2013 |
The glittering new deal to end the government shutdown/debt ceiling crisis has one tiny sop to the Republicans. Let's hope they don't break their arms patting themselves on the back about it. The sop is a provision to tighten "income verification" for people applying for federal subsidies for health insurance under the Affordable Care Act. We reported on this provision earlier this week. Here's a little more background. Bottom line: The problem that the new "tightening" is supposed to resolve doesn't even exist.
October 11, 2013 |
Jay Joerger was set to close a long-planned sale of his Palm Springs condominium this week until he was blindsided by an unexpected problem: the shutdown of the federal government. The condo sits on land owned by an Indian tribe, so the sale must be approved by the U.S. Bureau of Indian Affairs. But the bureau has ceased nonessential functions, delaying many home sales in Palm Springs and nearby areas. "It's stopped cold right now," said Joerger, a painting contractor from Fullerton.
October 10, 2013 |
Looking for the American dream in Los Angeles? Good luck with that. A household earning the county's median income - $53,001 annually in 2012 - can only afford a home worth about $271,000, a price point better suited to the Midwest than the West Coast. That means a typical buyer can afford only 24% of the homes currently for sale, according to a study released Thursday by Trulia, the real estate information company. Los Angeles County is the nation's third-most-expensive housing market by this measure - behind only San Francisco and Orange County.
CALIFORNIA | LOCAL
October 7, 2013 |
The former president of California's biggest union local was sentenced Monday to 33 months in federal prison for stealing from his low-income members to finance an expensive lifestyle that included being married to two women at the same time. Declaring that Tyrone Freeman betrayed the "sacred trust" of the workers he represented, U.S. District Judge Audrey Collins also ordered him pay to about $150,000 in restitution and barred him from holding office in any union for 13 years after he is released from prison.
CALIFORNIA | LOCAL
September 30, 2013 |
SACRAMENTO - For the first two years of his late-in-life second act as governor, Jerry Brown focused almost exclusively on California's woeful budget situation. Now, with the immediate crisis having passed after a hard-won tax increase, Brown is back trying to change the world, like the Jerry Brown of yesteryear. But instead of looking toward higher office, the three-times-unsuccessful candidate for president is trying to effect that change from the state Capitol. As he works through hundreds of bills on his desk that must be signed or vetoed by Oct. 13, Brown has taken steps aimed at combating global warming, reversing growing income disparity and giving undocumented immigrants a series of new rights.
September 27, 2013 |
WASHINGTON -- Americans' incomes rose the most since February last month, helping increase the pace of consumer spending and providing a positive sign for economic growth this fall. Personal income increased 0.4% in August compared with an upwardly revised 0.2% the previous month, the Commerce Department said Friday. Consumer spending rose 0.2% in August compared with a 0.1% rise in July. The income growth was in line with analyst expectations; consumer spending was slightly below forecasts of a 0.3% increase.