February 15, 2013 |
A federal judge approved a $17-million loan from two movie studios to keep the lights on at troubled Rhythm & Hues, the award-winning visual effects company that worked on the Oscar-nominated “Life of Pi.” Rhythm & Hues, based in El Segundo, on Wednesday filed for bankruptcy protection under Chapter 11 of the federal bankruptcy code after laying off 250 employees. As part of its plan to avoid liquidation, Rhythm & Hues said it secured a $17-million loan from Universal Studios and 20th Century Fox to complete work on current projects, including “R.I.P.D.” and “Percy Jackson: Sea of Monsters.” Warner Bros., which is owed $4.9 million, is not providing any financing, the company said in court filings.
August 7, 2011 |
Dear Liz: I am working on paying my bad debt from the past to rebuild my scores. I have one credit card that I pay in full every month, but no installment loan. I recently was given the opportunity to take a car loan with monthly payments I could easily afford. Here is my confusion: Taking on more debt while trying to eliminate past debt is usually not advisable. But I also know creditors like to see both revolving and installment credit. Am I OK to take the car loan to improve my mix of credit, or should I just use that extra money to pay off my past debt?
February 6, 2012 |
Fisker Automotive has stopped work at a former General Motors auto plant in Delaware where it plans to build Project Nina, a family-size plug-in hybrid that is expected to sell for about $50,000. The Anaheim-based auto company laid off 26 workers at the plant and let go 40 contract employees working at its headquarters . That leaves the company with about 600 employees working on automotive development in Anaheim. The company said it “delayed work at the plant based on ongoing discussions” with the Department of Energy “regarding funding for the Project Nina program.” The agency is withholding loans for the Nina project because Fisker missed milestones in getting its first vehicle, the Karma sports car, to market.
April 5, 2009 |
Question: As a director and treasurer of our homeowner association board, I have a duty to inquire about the association's finances. Without my knowledge or consent, the other board directors committed our association to a loan with unfavorable terms. I have been asking a lot of questions regarding the loan agreement, but no one is giving me answers. The association's attorney informed the board, and our president affirmed, that "the board will not be liable for this loan."
CALIFORNIA | LOCAL
June 25, 2013 |
The U.S. Small Business Administration is scheduled to open a disaster loan outreach center for victims of the recent Powerhouse Fire that burned more than 30,000 acres across the Angeles National Forest and high desert, officials said Tuesday evening. The center is set to open in Lake Hughes to assist people with obtaining low-interest federal disaster loans, Los Angeles County's chief executive said in a statement. The loans are available for homeowners, business owners, renters and people who operate nonprofit organizations.
May 23, 2013 |
The week before the Memorial Day holiday has been a busy one for retailers. Here's a sampling of happenings from Mattel, J.C. Penney and Abercrombie & Fitch. Mattel: As the El Segundo-based toymaker adapts to its newly created North America division, it is reassigning jobs and instituting layoffs at its New York City offices and its Fisher-Price campus in East Aurora, N.Y. About 100 employees will be affected by what Mattel called an “extremely difficult decision” made to help the company “better match resources with the needs of the business.” Some of the workers will be allowed to relocate to Mattel's Southern California headquarters, a move set to wrap up by mid-October, according to a statement issued to The Times on Thursday.