March 5, 2012 |
He has only been on the job for two months, but Yahoo's new chief executive, Scott Thompson, is already preparing a bold attempt to turn around the struggling Internet company. Thompson is weighing a significant restructuring of Yahoo that could include thousands of layoffs, according to technology blog All Things D . The moves, the first major ones from the former PayPal president, could be announced as early as this month, Kara Swisher reported, citing anonymous sources.
January 20, 2012 |
Eastman Kodak Co.'s grand days as a vanguard American company, responsible for the millions of photos stuffed in family albums and shoe boxes across the country, seemed far away when the company finally filed for a long-expected bankruptcy. But although many knew that Chapter 11 restructuring was coming for the storied brand - long buckling under competitive and technological pressures and liquidity woes - the announcement still left many in a somber mood. "There's a romanticism that everybody feels with Kodak - it's like holding a blank canvas," said Damon Berger, co-founder of the Disrupt/Group production house in Hollywood.
November 5, 2011 |
Before a noticeably cool but polite audience of conservative activists, Mitt Romney redoubled his efforts Friday to align his agenda with that of the tea party — laying out a plan to slash $500 billion from the federal budget, in part through major changes to the nation's entitlement programs. Romney's proposals to reduce federal spending to 20% of the nation's gross domestic product by 2016 were far-reaching but often lacked specifics. The former Massachusetts governor said he would lower the cost of Social Security by raising the eligibility age for benefits, but he did not specify how quickly those changes would be phased in. He estimated that he could achieve tens of billions of dollars in savings by capping the cost of Medicaid, the federal program that provides medical care to the poor, and allowing the states to take it over — a move his campaign said would "empower them to innovate.
August 17, 2011 |
Here's the good news about the pageant of economic fecklessness staged this summer by Congress and the White House: The widespread voter disgust it generated improves the chances for President Obama to reset the debate by proposing a set of bold initiatives. Obama is wrapping up a three-day bus tour of the Midwest to promote a jobs package. Thus far his program's ambitions are meager indeed, encompassing a $30-billion infrastructure improvement bank and $160 billion from unemployment and payroll tax extensions.
July 18, 2011 |
After more than 50 years of high school sports competition, Van Nuys Montclair Prep, a private school in the San Fernando Valley, announced Monday it will discontinue its sports program, stunning alumni and creating a scramble for its top athletes with eligibility remaining. "As a result of this economy and overwhelming requests for financial aid, we had to restructure," said the school's director, Mark Simpson. Besides the sports program being eliminated, the school, which was founded in 1956, will no longer offer financial aid and will drop its teaching program for seventh- and eighth-graders, becoming a 9-12 school.
CALIFORNIA | LOCAL
June 19, 2011 |
Restructuring the Costa Mesa Police Department to reduce costs could put the city at risk for more crime and mean fewer officers dedicated to traffic enforcement, narcotics operations and other specialties, the police chief warned. But some city officials — trying to shore up the budget — said there may be little choice but to follow at least some of a consultant's recommendations to restructure the force. Such reorganization, the consultant says, would save $1.3 million the first year and $1.8 million annually afterward.
June 1, 2011 |
Reporting from Vancouver, Canada — NHL Commissioner Gary Bettman announced a major restructuring of the hockey operations department that will end Colin Campbell's 13-year tenure as the league's dean of discipline. Bettman said Campbell, who will remain as a senior vice president, will relinquish duties relating to supplementary discipline and that a new department of player safety will be launched next season. The head of that department will be Brendan Shanahan, a former player who has been the league's vice president of hockey and business development.
CALIFORNIA | LOCAL
May 17, 2011 |
John Santos bristles when outsiders buy into the broad-brush image of Manual Arts High as a failing school. "Why don't you take the time to get the entire story?" Santos challenged me in an email response to my column last Saturday detailing challenges at the school in a working-class neighborhood a stone's throw from the Los Angeles Memorial Coliseum. The campus numbers don't look good: Only half of ninth-graders make it to graduation, and 60% of students test "below basic" on skills.
CALIFORNIA | LOCAL
May 6, 2011 |
Drivers on the San Joaquin Hills toll road through western Orange County could be paying tolls for an extra six years under a proposed agreement that would restructure about $430 million of its $2.1 billion in debt. The agreement is asking bondholders to lower payments for 13 years and restructure the way the agency pays interest on certain bonds. An agreement, which would push back the bond maturity dates by six years, to 2042, is expected in two weeks. "Basically … what we're trying to do is be proactive about the way we manage finances here at the agency," said Tom Margro, chief executive of the Transportation Corridor Agencies, which also operates the Foothill and Eastern toll roads, which includes a portion of the 133 Freeway.
April 15, 2011 |
It was nearly a year ago that Greece became an unwilling trendsetter by deciding to accept a $159-billion bailout from the European Union and the International Monetary Fund because it could no longer pay its bills. Since then, Ireland has also been thrown an emergency financial lifeline, and Portugal is in negotiations for its own rescue package. But many experts believe default of some sort to be inevitable, especially for Greece, which is expected to announce a new round of austerity and privatization measures Friday in an attempt to avoid it. As he rushed to put the finishing touches on the package, Greek Finance Minister George Papaconstantinou spoke to The Times in his office in downtown Athens.