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June 26, 2012 | By Kim Murphy, This post has been corrected, as indicated below.
Even as the first offshore drilling in the Arctic in nearly two decades is poised to get underway, Obama administration officials said Tuesday they are preparing to open additional areas of the Arctic Ocean to oil and gas exploration. Such exploration will be part of a “targeted leasing” strategy that will place a few of the most sensitive areas - including prized wildlife habitat just north of Barrow, Alaska - off-limits but will allow new leasing in 2016 in the Chukchi Sea and 2017 in the Beaufort Sea. The full scope of the offshore-leasing program in the Arctic for 2012-17 will not be released for another several days, but U.S. Interior Secretary Ken Salazar made it clear that the U.S. plans to expand the march of drilling rigs into the Arctic after Shell's initial exploratory drilling program this summer.
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REAL ESTATE
August 11, 1985
If the current office leasing pace continues in metropolitan Phoenix, an all time high will be established at the end of 1985, according to the Phoenix office of Grubb & Ellis Commercial Brokerage Services. The overall vacancy factor for the metropolitan area was held to about 22% due to a continuing surge of leasing that saw 1.5 million square feet of office space leased in the second quarter and 2.
BUSINESS
July 2, 1985
In separate votes, shareholders of Flexi-Van Corp. and Castle & Cooke approved the proposed $600-million takeover of the financially troubled, Hawaii-based food products and real estate concern. Flexi-Van, a New York-based transportation-equipment leasing company, is controlled by financier David Murdock.
BUSINESS
August 28, 2002 | Associated Press
ELECTRONICS * A General Electric Co. subsidiary is reportedly in talks to buy part of ABB Ltd.'s leasing and financing business in a deal that could be worth as much as $3.1 billion. GE declined to comment on the report in the Wall Street Journal, and Zurich-based ABB said only that it was in talks with undisclosed parties about selling the business.
BUSINESS
January 9, 1998 | JAMES F. PELTZ, TIMES STAFF WRITER
The times are changing. Aeroflot, the Russian airline that was long ridiculed for its dilapidated airplanes when it was an arm of the former Communist state, is leasing one of the world's newest, most advanced aircraft to help improve its service. The carrier, now called Aeroflot Russian International Airlines, is leasing two new Boeing 777 jetliners from International Lease Finance Corp., a major aircraft lessor based in Century City.
REAL ESTATE
March 22, 1987
Construction is under way on the Village on Canon, a $35-million, 93,000-square-foot mixed-use development at the northwest corner of Canon Drive and Dayton Way in Beverly Hills. About 62,000 square feet of the development at 321 N. Canon Drive will be office space, according to Edward Okun, general partner in Lerner/Okun Joint Venture, developers.
BUSINESS
January 27, 1987
Los Angeles-based Security Pacific will acquire the consumer finance assets and offices of Manufacturers Hanover Finance Ltd., a United Kingdom leasing subsidiary of Manufacturers Hanover Corp. The assets, which are valued at about $100 million, consist primarily of automobile finance receivables. Terms of the sale, which is expected to be completed on Feb. 19, were not disclosed.
BUSINESS
April 30, 1985
Litton Industries Credit, a commercial finance and leasing operation that provides equipment financing to middle-market firms throughout the East, South and Midwest, will be sold to Metropolitan Life Insurance for an unspecified price. The credit unit's assets are about $387 million, or the bulk of the $592.6 million in assets of Litton's entire financial-services division as of last July.
CALIFORNIA | LOCAL
December 5, 1986
Your editorial (Oct. 23), "A Break Offshore," characterizes recent congressional action to further delay oil leasing off California as a victory for Californians. Considering that this country is again importing more than 40% of its oil needs, another unnecessary delay in developing promising domestic offshore areas is a tragic setback--not a victory--for the people throughout this country, including California. This is not the first time Congress has delayed leasing off California.
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