September 30, 2013 |
WASHINGTON - The last time the federal government shut down, for three weeks in the winter of 1995-96, the American economy felt a jolt but recovered quickly. Things don't look anywhere near as promising this time around. The nation is currently more than four years into an economic expansion with some momentum behind it. That also was the case in 1995. But this time, things are a lot more fragile. Shutdown Q&A: How long? What's the impact? Americans continue to suffer from a relatively high unemployment rate of 7.3%, which is about 2 percentage points higher than in December 1995.
September 28, 2013 |
The Lakers opened training camp on Saturday by holding media day at their El Segundo practice facility. Pau Gasol, who recently arrived in Los Angeles after spending most of the summer in Spain, is healthy after May procedures to help relieve tendinosis in both knees. "It wasn't easy," Gasol said. "They had to put me on crutches for a few weeks, after the painful season that I had. It was what I needed to do in order to be healthy today. " Gasol missed 33 games last season with a variety of ailments (concussion, foot and knees)
September 24, 2013 |
Los Angeles builder KB Home rode the housing recovery to soaring revenue and profit during the third quarter, as it sold more homes at higher prices. The Southland's largest production home builder beat Wall Street's profit expectations Tuesday, reporting net income of $27.3 million, or 30 cents per share, in the third quarter. That's up remarkably from $3.3 million, or 4 cents per share during the same period last year. Revenue climbed 29% over the year to $549 million, as each of the company's regions - the West Coast, Southwest, Central and Southeast - brought in at least 25% more in revenue. Still, analysts followed by Yahoo Finance expected more, $569.6 million in revenue.
September 19, 2013 |
DENVER - In an acknowledgment of the breadth of destruction that has visited his state, Colorado Gov. John Hickenlooper announced Thursday the appointment of a business executive to oversee the state's recovery from catastrophic flooding, which he framed as "a race against the onset of winter. " Jerre Stead, the e xecutive chairman of IHS Inc., a global information company, will become the state's so-called Chief Recovery Officer as Colorado contends with roughly 2,000 lost homes, 200 miles of destroyed state highways and scores of bridges damaged or destroyed across the state.
September 17, 2013 |
WASHINGTON -- Reflecting the sluggish economic recovery, the nation's poverty rate remained stuck at a near generation-high of 15% last year, while the average income of American households continued to stagnate, the Census Bureau reported Tuesday. The number of people living in poverty stood at 46.5 million in 2012, representing 15% of the country's population for the second year in a row. In 2010, the poverty rate reached 15.1%, the peak of the recent business cycle. The poverty figure was 12.5% in 2007, the year before the Great Recession.
CALIFORNIA | LOCAL
September 15, 2013 |
Chris Roquemore once thought of himself as working class. But it's hard to keep thinking that, he said, when you're not working. The 28-year-old father said he sparred with his supervisors at a retail chain about taking time off after his mother died - and ended up unemployed. Since then, Roquemore has worked odd jobs and started studying nursing at Long Beach City College, trying to get "a career, not a job. " All those changes, in turn, changed the way he thought of himself. Roquemore is among the small but surging share of Americans who identify themselves as "lower class.
September 10, 2013 |
The Dodgers will soon have a better idea of whether Matt Kemp will play again this season. In the next day or two, Kemp is expected to run at the Dodgers' spring-training complex in Arizona to test the right hamstring he strained Friday. Based on what Manager Don Mattingly has heard from the Dodgers' medical staff - basically, that Kemp's injury appears to be relatively minor - Mattingly is optimistic his sidelined center fielder will return. "I'm starting to feel that way," Mattingly said, sounding significantly more upbeat than he did a few days earlier.
CALIFORNIA | LOCAL
September 7, 2013 |
John Odom struggled to describe what it was like to be back home in Southern California. He had spent the last five months on the East Coast recovering from injuries he sustained in the Boston Marathon bombings that killed three people and injured more than 260 others. "You don't have really the words to describe the feeling to walk in that front door - just such a great feeling inside that, oh my God, I'm home," Odom said in an interview at his home in Torrance on Saturday. "It felt like, for whatever reason, the weight on your shoulders was gone and it was just awesome to be able to go upstairs and get in our own bed. " Odom, 65, and his wife, Karen, returned home from Boston on Friday to a celebration held in his honor by friends and family at a Mexican restaurant in El Segundo.
August 31, 2013 |
Most Americans know Seaside Heights as the town made famous by Snooki and her ilk in MTV's reality series “Jersey Shore.” Mike Loundy simply knows the resort town as home. His grandfather came to Seaside Heights in 1932. The family never left, and Loundy's two daughters, he proudly notes, are fourth-generation residents. The town Loundy calls home was among the many devastated when Hurricane Sandy roared up the eastern seaboard last October. Rain, wind and surging tides tossed a roller coaster from Seaside Heights' boardwalk into the Atlantic Ocean before pummeling homes and businesses.
August 24, 2013 |
Why buy when you can rent? With a frenzied housing market shutting out would-be buyers all over Southern California, sending that check to the landlord is looking smarter every day. The rental market provides a stark contrast to the red-hot housing recovery. In Los Angeles County, apartment rents have risen only slowly, with an expanding supply of rentals holding down prices. In downtown Los Angeles, an apartment building boom has even driven rents down by 5% over the last year, to an average of $1,990 in the second quarter.