July 25, 2013
CBRE Group Inc., the world's largest commercial real estate brokerage, reported a 9% jump in revenue during the second quarter led in part by thriving property markets in Australia, Singapore and China. Profit was down from the same period last year, however, as the Los Angeles company spent $25.8 million to refinance debt and reduce future interest payments. Second-quarter net income was $69.9 million, or 21 cents a share, down from $75.9 million, or 23 cents, a year earlier.
July 25, 2013 |
Many musicians and wannabe stars have enjoyed posting on YouTube their own versions of singer-songwriter Jason Mraz's first international hit, "I'm Yours. " Trouble was, Mraz had no quick and easy way to find those versions and collect royalties. Now he may have found a solution. Audiam Inc., which launched overseas last month and in the U.S. on Wednesday, searches YouTube for people using Mraz's copyrighted songs and collects part of the advertising revenue generated by those clips, under an agreement with YouTube.
July 24, 2013 |
Facebook Inc.'s shares are surging after the social network reported a 53% increase in revenue and strong advertising growth in the second quarter. The social network reported profit of $333 million, or 13 cents a share, on revenue of $1.81 billion. For the second quarter of 2012, Facebook reported a $157-million loss on revenue of $1.18 billion. After adjusted for one-time events, Facebook earned 19 cents a share. QUIZ: How much do you know about Facebook? That's better than Wall Street expected.
July 24, 2013 |
Digital music is expected to surpass physical music sales within the next several years as revenue from downloading and streaming increases and the overall business shrinks, according to a new report. Digital music is picking up share and will account for the majority of the industry's sales by 2017, said the report from from Siemer Ventures, the investment arm of Santa Monica-based merchant bank Siemer & Associates LLC. Part of that growth is coming from streaming on a plethora of services , including Pandora, Clear Channel's iHeartRadio, Spotify, Rdio and MOG, as well as online video companies such as YouTube and Vevo. RELATED: Despite concerns, it's full-steam ahead for music industry The streaming space is getting more crowded with big players, including Google Inc.'s recently introduced offering and the impending launch of Apple Inc.'s iTunes Radio . The growth will continue as companies offer new services, such as streaming in cars, said John Rudolph, a senior advisor at Siemer.
July 19, 2013 |
Disturbing news this week for Barbie: Mattel reported that revenue from the doll fell 12% in the second quarter that ended June 30. That's Barbie's fourth straight quarterly sales slide. It's tough to be a middle-aged female entertainer, and Barbie, at 54, is no different. Over the years, she has tried to rebrand herself -- Dentist Barbie, Astronaut Barbie -- but she's still struggling to keep a strong fan base. Mutating into the meme of the moment doesn't seem to work for her. Becoming Hip Hop Barbie won't make her a cult figure again.
CALIFORNIA | LOCAL
July 16, 2013 |
SACRAMENTO -- California schools will see a hike in new money thanks to increased tax revenue during the fiscal year that just ended. The state reaped $2.1 billion more than expected over the last year, according to Gov. Jerry Brown's administration. The money will be directed to schools under the state's constitutional education-funding formula. Most of the extra money was derived from income taxes, which generated $1.1 billion more than expected. "We've seen a surge in revenues," said H.D. Palmer, a spokesman for Brown's Department of Finance.
July 15, 2013 |
As more options for TV viewing emerge, and watching programming on smartphones and tablets becomes more popular, there's more pressure on cable and satellite companies to let consumers choose what channels they want to pay for. Some see such an "a la carte" system as the future of the pay-TV industry, arguing that it would be more fair for consumers. But according to Laura Martin, an analyst at Needham & Co., such a move would be a disaster for the business. PHOTOS: Cable versus broadcast ratings If the pay-TV industry undid the practice, known as bundling, it would lose about $70 billion, or half its revenue, annually, she said.
July 9, 2013 |
Kroger Co., the Cincinnati-based grocery giant that owns chains such as Ralphs and Food 4 Less, is heading for Wal-Mart territory with its $2.5-billion purchase of Harris Teeter Supermarkets Inc. Taking over the Matthews, N.C., company and its 212 stores will give Kroger control over 2,631 total supermarkets in 34 states and Washington, D.C. Harris Teeter - which Kroger said operates in high-growth markets, vacation destinations and university towns...
July 8, 2013 |
As the U.S. population ages, so does the need to care for the sick and disabled. That's what the Ensign Group Inc. in Mission Viejo is banking on. The company provides skilled nursing and rehabilitative care services at 119 facilities in 11 Western states. Thirty-five of those facilities are in California. The company also operates seven hospice companies, five urgent care clinics and nine home healthcare agencies. Ensign's business model is fairly simple: It acquires convalescent hospitals that typically provided long-term care for ill or infirm patients, and converts them to skilled-nursing centers that provide short-term care for people leaving the hospital but not quite well enough to go home.
CALIFORNIA | LOCAL
July 4, 2013 |
Without a proposed $2.2-billion bond sale to refinance its debt, a major Orange County tollway could eventually default on its bond payments, according to a report released Wednesday. The analysis by the state treasurer's office supports plans by the Transportation Corridor Agencies to restructure the debt at lower interest on the Foothill-Eastern toll road, which is failing to live up to ridership and revenue projections. "We are pleased with the outcome of the study," said Lisa Telles, communications director for the corridor agency.