BUSINESS
May 23, 2012 | By Tiffany Hsu, Los Angeles Times
Benihana Inc., the Japanese-style and sushi restaurant chain known for slicing, dicing and frying food in front of diners, has accepted an offer to be sold to a private equity group for $296 million. Angelo, Gordon & Co. plans to pay Benihana shareholders $16.30 a share in cash in a transaction that's been approved by the Miami-based chain's board. Benihana shareholders must also approve the acquisition. The price is a premium of 46% over the average closing price for the 30 days before March 13, when Benihana first said it was exploring strategic alternatives for its business.
CALIFORNIA | LOCAL
May 21, 2012 | Kate Linthicum, Los Angeles Times
The Los Angeles City Council passed a $7.2-billion budget Monday, voting to cut 400 unfilled city staff positions but putting off difficult decisions on layoffs, park funding and Fire Department resources. On a 15-0 vote, council members agreed to wait until January to determine whether layoffs are necessary, and which positions could be eliminated, saying that more study is needed. They took that step despite a warning from the city's top budget official that some of the revenue being used to balance spending isn't a sure thing.
CALIFORNIA | LOCAL
May 15, 2012 | By Rong-Gong Lin II, Los Angeles Times
The Los Angeles Memorial Coliseum Commission, teetering on the brink of financial ruin, approved a controversial deal Monday to surrender day-to-day control of the historic venue to USC. The 8-to-1 vote would virtually end public stewardship of the 88-year-old stadium, a jewel of its South Los Angeles neighborhood built to honor World War I veterans and financed with public money. USC has long sought control of the Coliseum, decrying the property's outdated condition as unfit for the school's Trojan football team, which plays there.
ENTERTAINMENT
May 13, 2012 | By Betsy Sharkey, Los Angeles Times Film Critic
At first, the email rants from readers expressing their distress about Hollywood's increasing reliance on foul language were a mere trickle. Like the way one couple lost faith in one of their favorite actors, Paul Rudd, mortified by his graphic pep talk to his private part in"Wanderlust. " Before those complaints could be chalked up to a prudish few, they grew into a steady stream of frustration, such as the distinct distaste for the dialogue in writer-director-actress Jennifer Westfeldt's indie comedy"Friends With Kids.
OPINION
May 13, 2012 | By Michael Kinsley
How well I remember the day many years ago that I was walking through the quad at Cranbrook School in Bloomfield Hills, Mich. FOR THE RECORD: Choate: Michael Kinsley's May 13 column misspelled the name of a Connecticut school. It is Choate, not Choat. Suddenly I heard a voice shouting, "There he is, the bastard!" It was Mitt Romney, who went on: "He's the guy who favors health insurance reform with" - he spat out the words - "an individual mandate. Let's get him, boys.
CALIFORNIA | LOCAL
May 10, 2012 | By Tony Barboza, Los Angeles Times
A truce has been forged in the decades-long fight over the forested land surrounding the world-famous Pebble Beach resort. The California Coastal Commission on Wednesday approved a plan by actor Clint Eastwood, golfer Arnold Palmer, former baseball Commissioner Peter Ueberroth and other Pebble Beach Co. owners that is billed as the last development ever at the gated complex of golf courses, mansions and hotels on the Monterey Peninsula. The decision largely puts to rest a contentious environmental battle over the company's plans to expand into its prime real estate holdings in the forest above the craggy bluffs and crashing surf.