September 23, 2013 |
The world's airlines have been enjoying a surge in demand in recent years, leading to growing profits. But the profits for 2013 won't grow as fast as previously expected because of an oil price spike and disappointing growth in emerging markets, according to an estimate by the International Air Transport Assn., the trade group for the world's airlines. The group had previously projected $12.7 billion in airline profits around the globe but adjusted that estimate down to $11.7 billion for the year.
September 22, 2013 |
Sometimes, employers aren't looking for a long-term, committed relationship. That's where On Assignment Inc. comes in. The Calabasas firm provides skilled employees - many of them in the technology field - to companies looking for temporary workers. Its profits come from charging employers about 30% more than it pays the workers. That markup is used in part to pay the temporary workers' employment taxes and benefits. As the U.S. economy improves and the jobs picture brightens, employers increasingly are turning to On Assignment for workers.
September 11, 2013 |
NBCUniversal Chief Executive Steve Burke said Comcast Corp. inherited a media company that was an industry laggard in key financial measures, particularly at the NBC broadcast network. The NBC broadcast network earns $500 million to $1 billion less each year than industry leaders CBS, ABC and Fox Broadcasting, Burke said Wednesday morning at the Bank of America Merrill Lynch Media, Communications & Entertainment Conference in Beverly Hills. Burke's comments shed light on Comcast Corp.'s investment strategy when it acquired controlling interest in NBCUniversal more than two years ago from longtime media owner General Electric Co. PHOTOS: Hollywood backlot moments Comcast executives have long believed that they could run NBCUniversal much better than GE's management team did. The early results suggest that Comcast was right.
September 8, 2013 |
These have not been good times for Corinthian Colleges Inc. or its investors. Founded in 1995, Corinthian is one of the world's largest for-profit college companies, with an enrollment of about 81,000 students at 111 schools in 25 states and Canada. Operating under the names Everest, Heald and WyoTech, it offers job-training programs as well as associate's, bachelor's and master's degrees. The Santa Ana company has been under scrutiny about the way it recruits students and the high rate at which its students default on federal loans.
CALIFORNIA | LOCAL
September 3, 2013 |
On Aug. 16, the front page of the Carmel Pine Cone, a serious but cheeky paper that covers the Monterey Peninsula, featured its usual lively mix of news: a photo package about the annual car extravaganza known as the Pebble Beach Concours d'Elegance, plus stories about Carmel's mounting municipal legal bills, the region's eternal struggle over water and a stymied airport runway construction project. But it was the headline over a photo of a huge Monterey pine tree that had fallen onto a Toyota Prius during morning rush hour that caused a tempest: "Tree Smashes Prius on Highway 68 -- but at least it wasn't a Bentley.
August 30, 2013 |
In a new legal challenge, financial industry opponents of the city of Richmond's plan to seize underwater home loans call the gambit a disguised attempt to profit at the expense of everyday investors. Richmond is threatening to use eminent domain to remove troubled loans from mortgage bonds in order to write down the principal for homeowners. The novel plan, promoted by San Francisco investment firm Mortgage Resolution Partners, seeks to stop another wave of foreclosures in the working-class Northern California city.
August 26, 2013 |
The parent company of American Airlines reported a $292-million profit for July, a monthly record for the company that is trying to exit bankruptcy in the next few months. Excluding $57 million in reorganization fees, AMR Corp. reported $349 million in operating profit, according to a monthly filing required by the U.S. Bankruptcy Court. July's profit is the highest for any month in the company's history. In comparison, AMR reported a $357-million profit for the entire second quarter of 2013, the company said.
August 26, 2013 |
AMR Corp., the parent company of American Airlines, reported a $292-million profit for the month of July, a new monthly record for the company that is trying to exit bankruptcy in the next few months. Excluding $57 million in reorganization fees, the Fort Worth-based carrier reported $349 million in operating profits, according to a monthly filing required by the bankruptcy court. In comparison, AMR reported a $357-million profit for the entire second quarter of 2013, the company said.
CALIFORNIA | LOCAL
August 19, 2013 |
Carter Paysinger, the principal of Beverly Hills High School, said Monday that he welcomes an independent review called by the Beverly Hills Unified School District into the for-profit summer sports camp he owns. The review was in response to an article in The Times last week that reported that the Beverly Hills Sports Academy, held on campus, is owned by Paysinger and operated by two school employees. Parents say they were led to believe that the academy was a mandatory school-sanctioned camp for athletes and that fees would help fund sports teams.
August 19, 2013 |
WASHINGTON - Record profits from bailed-out Fannie Mae and Freddie Mac have helped reduce the federal budget deficit and put off an increase in the nation's debt limit, but a new government report raises questions about how the mortgage finance giants are accounting for future losses. The two companies, which were seized by the government in 2008, have been avoiding billions of dollars in potential long-term losses by delaying a requirement that they write off more of the delinquent mortgages they own or back, according to the inspector general for the Federal Housing Finance Agency, which oversees the firms.