New Bonds

Southern California has long been on the front lines of religious and cultural diversity and the challenges and promises that brings. Like the Iberian Peninsula in medieval times, where Muslims, Jews and Christians enjoyed periods of peaceful coexistence punctuated by war and intolerance, the record in Southern California has been mixed. After the Sept.

MGM Studios plans to send James Bond on his next mission sooner than later, announcing Wednesday that it hopes to have the next installment of the popular spy series in theaters within the next three years. MGM Chairman and Chief Executive Gary Barber, in a conference call with investors, said the studio is developing the screenplay for the next Bond film, the 24th entry in the 50-year-old franchise. “We look forward to announcing a director soon,” Barber said. “We are really thrilled with where we have taken this franchise.” PHOTOS: James Bond through the years Sam Mendes, director of the most recent Bond film, 2012's "Skyfall," announced earlier this month that he passed on an offer from series producers Michael G. Wilson and Barbara Broccoli to return as director.  Star Daniel Craig is signed for two more films as the British secret agent.

Orange County has refinanced the remaining debt from its 1994 bankruptcy by selling more than $560 million in municipal bonds on Wall Street, a move that will allow the county to save millions and pay off the debt a decade earlier than anticipated. By Tuesday, Goldman Sachs, the county's financial broker, had sold or had orders for $418 million in county bonds at yields ranging from 2.63% to 3.99%. A remaining $145 million in bonds is expected to be sold today. "This helps us save $471 million in the long run," said an elated Supervisor Jim Silva.

Over the last half-century and 23 official James Bond films, Ian Fleming's super spy has been played by seven actors under 11 directors, with 17 costume designers or wardrobe supervisors responsible for the look of Agent 007 and the stylish garb he dons to fight villains or doffs to bed beauties. Across the span of those five decades, even the traditionally glacial pace of menswear trends looks like a fast-forward fashion flipbook of seismic shifts in shape and fit. Lapels widen and contract, blazer buttons multiply, silhouettes balloon and shrink.

In his rambling critique (Orange County Voices, Nov. 17), Gerald Brown blames City Hall downsizing for Fullerton's allegedly sliding quality of life. Yes, an economic slump and the county bankruptcy have impacted local government, but they have also forced long-overdue reforms. Fullerton has contracted the city attorney's office, for example, saving money and improving legal services. We've contracted the Muckenthaler Cultural Center to its citizen board, giving it real responsibility for operations and fund-raising.

The municipal bond market has stabilized in recent days after a steep, two-week sell-off. A heavy supply of new bonds for sale nationwide this week will show whether tax-free yields have reached levels high enough to lure investors back. On Tuesday, some large muni bond offerings were scaled back, suggesting that investors remained leery. Cash poured into muni bonds in August and September as many investors rushed to lock in yields, fed up with near-zero returns on money market mutual funds and other short-term accounts.

I am voting no on Prop. 26. The proponents of Prop. 26 say that passing Prop. 26 will mean more accountability and more and better classrooms, resulting smarter children. The only thing Prop. 26 will do is lower the bar by which we approve school bond measures from a two-thirds majority to a simple 50% plus one. School districts in California know now that if they want a bond issue to pass, they'd better specify in the measure what the money will be spent on. One last thought. If 26 passes and no bond money can be spent on administration, how is a school district going to pay for the two required audits each year, when they don't have enough money for clean restrooms and classrooms?

Of all the L.A. mayoral candidates' proposed solutions to fund additional police, Bernard Parks' idea for improved fiscal and personnel management is the most logical and voter-friendly. To enhance that position with financial aid, a modest surcharge on all city fines and penalties could be implemented to assist mitigation of the law enforcement dilemma. Similarly, to pacify Sheriff Lee Baca, the above suggestion might be instituted countywide. Walt Englert Silver Lake Why do the venues continue to neglect the other viable candidate, Walter Moore?

The California Public Utilities Commission approved plans by the state's three major investor-owned electric utilities to issue $7.3 billion in bonds to help finance deregulation of the industry. The securities are part of the state's plan to restructure its electricity industry, ending the existing system of regulated monopolies and allowing customers to choose their power supplier starting in January.

Investors who thought they couldn't lose money in bond mutual funds got a wake-up call last quarter. Rising longer-term interest rates meant lower market values for existing fixed-income securities, triggering widespread declines in bond fund share prices. That produced the first notable losses for many bond investments since the fourth quarter of 2008, when most financial markets were in meltdown mode. But the losses last quarter were heaviest in funds that owned the longest-term bonds and tax-free municipal issues.

George Zimmerman, who was forced to return to jail after his bail was revoked by a Florida judge, will get a new hearing to determine if he will be released while awaiting legal proceedings in the death of Trayvon Martin. Circuit Judge Kenneth Lester will preside over the bond hearing scheduled for June 29, the court said in a statement released Thursday. Zimmerman's lawyers have yet to file a motion, but have indicated they will seek a new bond. Zimmerman, 28, is charged with second-degree murder in the shooting of Martin, 17, during a February confrontation at a gated community in Sanford, Fla. Zimmerman lives in the community and often patrolled it as a neighborhood watch volunteer; Martin was returning to the home of his father's girlfriend after a visit to a convenience store.

BERLIN - If it seems to German Chancellor Angela Merkel that the world is against her, she may be right. Her insistence that debt-ridden European nations cut their way out of financial crises helped cost her conservative political party two state elections this month, exposed her to criticism as an inflexible taskmaster across the Eurozone and unleashed a torrent of anti-austerity venting that has toppled like-thinking national and regional leaders...

Decision day for the Greek debt crisis is drawing near, and insiders are predicting that if things go awry it could cost the world economy $1.3 trillion. Holders of Greek bonds have to decide by this Thursday whether they will trade in their old Greek bonds for new bonds that are worth less. Bond holders have an interest in agreeing to the swap because if it doesn't work, Greece is likely to default on its debt when it has scheduled payments on March 20. In a confidential memo that has just surfaced, the industry group representing bond holders has said that the consequences of such a default could be $1 trillion in losses.

The financial world has spent the morning intently watching and debating about an obscure and secretive committee that voted on how to categorizeGreece'sbailout plan. The question facing the committee was whether to define the current plan to exchange bonds as an act of default by Greece on its bonds. But the committee, run by the International Swaps and Derivatives Assn., voted 15 to 0 Thursday morning that the plan was not a default. The answer is significant because if Greece does default on its bonds, it will trigger the complex financial instruments known as credit default swaps, which are designed to allow investors to bet on Greek defaulting on its bonds.

Nervous global investors can't seem to own enough U.S. Treasury debt, yet the Federal Reserve may soon make the bonds even more scarce. With the U.S. economy struggling, Fed policymakers are expected this week to announce a new bond-buying plan specifically aimed at pulling long-term interest rates lower. That could help some Americans buy homes or refinance mortgages. But Wall Street doesn't see much hope that the Fed can give a significant boost to the economy. "Interest rates already are low and it hasn't had any stimulative effect" on most consumers or businesses, said Dan Greenhaus, chief global strategist at brokerage BTIG in New York.

Investors who thought they couldn't lose money in bond mutual funds got a wake-up call last quarter. Rising longer-term interest rates meant lower market values for existing fixed-income securities, triggering widespread declines in bond fund share prices. That produced the first notable losses for many bond investments since the fourth quarter of 2008, when most financial markets were in meltdown mode. But the losses last quarter were heaviest in funds that owned the longest-term bonds and tax-free municipal issues.

California, with the weakest credit rating among the 50 states, is hoping individual investors will see opportunity in trouble as it tries to sell $2 billion in tax-free bonds this week. As he has done with previous bond sales, state Treasurer Bill Lockyer is spending money on an ad campaign to lure investors to the general-obligation bonds. Strong demand from individuals would mean fewer bonds left for institutional investors such as mutual funds. If that means the big players have to compete more aggressively for the remainder of the deal, the state might be able to pay a lower overall interest rate to borrow, saving taxpayers cash.

The financial world has spent the morning intently watching and debating about an obscure and secretive committee that voted on how to categorizeGreece'sbailout plan. The question facing the committee was whether to define the current plan to exchange bonds as an act of default by Greece on its bonds. But the committee, run by the International Swaps and Derivatives Assn., voted 15 to 0 Thursday morning that the plan was not a default. The answer is significant because if Greece does default on its bonds, it will trigger the complex financial instruments known as credit default swaps, which are designed to allow investors to bet on Greek defaulting on its bonds.

Los Angeles-based mutual fund giant American Funds took 80 years to create just 30 fund portfolios. Now it's launching three funds in the span of three months. The sudden burst of activity has raised eyebrows in the investment business because it comes as American Funds continues to suffer cash outflows from its bread-and-butter stock funds, which for decades had been among the industry's most popular with small investors. With the public largely turning its back on U.S. stocks since 2008, American's new funds will offer investors more of what they've wanted for the last two years: bonds.

Even before the Federal Reserve opens its checkbook to launch a new economic stimulus program, the central bank's discussion of the idea is having some of the desired effects. Stocks surged Wednesday to five-month highs, buoyed in part by the expectation that the Fed will keep the cost of money extraordinarily low to support economic growth. With Fed policymakers focused intently on stoking hopes for a continuing recovery, every increase in share prices can help by boosting many Americans' net worth.