BUSINESS
May 24, 2012 | By E. Scott Reckard
Record low interest rates for 30-year mortgages edged down another tick, Freddie Mac said in its latest survey , which showed lenders across the nation offering the benchmark loan at 3.78% compared to 3.79% last week. The typical rate on a 15-year fixed loan held steady at 3.04%. Sales of new homes were rising in a recent survey, with the low rates helping to make housing more affordable. But many homeowners are trapped in homes worth less than their mortgages, restraining home resales and holding back the recovery in the housing markets.
ENTERTAINMENT
May 23, 2012 | By Joe Flint
"American Idol"continued to suffer a ratings drop as it headed into its season finale Wednesday night and prepared to crown either Phillip Phillips or Jessica Sanchez the winner. According to preliminary ratings, the Tuesday night episode of the Fox show drew 14.3 million viewers. That was enough for an easy win, and the show also was first in the advertiser-coveted demographic of adults ages 18 to 49. "American Idol's" overall numbers, however, are inching downward.
ENTERTAINMENT
May 23, 2012 | By Joe Flint
After the coffee. Before getting out of wet Boston. The Skinny: After almost two weeks on the road, I'm finally heading back home Wednesday night. Just don't tell me it's raining in Los Angeles. Wednesday's headlines include NBC's plans to hype the online component to its Olympics coverage, Disney hitting pause on a pricey movie, andCNN's ratings troubles. Daily Dose: While the National Cable & Telecommunications Assn.'
BUSINESS
May 23, 2012 | Michael Hiltzik
That ray of light you see peeking through all the clouds darkening California's future? That's the sun. More specifically, solar power, in which California is the hands-down national leader. The state's installed solar generating capacity of about 1.2 gigawatts - the equivalent of two big conventional power plants and enough to fill the electrical demand from nearly 200,000 homes for a year - easily outstrips the next 10 highest-ranked states. It's also the fastest-growing solar market in the country.
BUSINESS
May 23, 2012 | By Jerry Hirsch, Los Angeles Times
Moody's Investors Service raised the credit rating of Ford Motor Co. to an investment grade, giving its seal of approval to a corporate turnaround of the business that started with heavy borrowing at the end of 2006. The move Tuesday returns control of the automaker's famous "Blue Oval" logo back to Ford. The logo, with the Ford name written in distinctive script, was first seen on a Model A in 1928 and was pledged as collateral to obtain the loans. Moody's raised its assessment of the creditworthiness of Ford's automotive operations to Baa3, up from Ba2. Ford Motor Credit Co., the automaker's finance arm, now has a rating of Baa3, up from Ba1. The investment rating is an important measure of corporate health and will reduce the automaker's borrowing expenses.
SPORTS
May 23, 2012 | By Mike DiGiovanna
OAKLAND — Several big league veterans, including Torii Hunter , were convinced Howie Kendrick would win a batting title some day after the Angels second baseman hit .285 as a rookie in 2006, .322 in 2007 and .306 in 2008. Entering Tuesday, the only category in which Kendrick ranked among American League leaders was strikeouts — he was tied for ninth with 39, including five three-whiff games, in 161 plate appearances. That Kendrick went five for 38 in 11 games through Monday, a .132 clip that dropped his average from .298 on May 9 to .257, is disturbing enough.