July 29, 2012 |
WASHINGTON — Though many home shoppers who assume they are still in a buyer's market find it hard to believe, one of the sobering fundamentals shaping real estate this summer is shrinking inventory: The supply of houses for sale has fallen significantly in most areas compared with a year earlier, sometimes dramatically so. And that is having important side effects by raising prices and homeowners' equity stakes and reducing total sales. In major metropolitan markets from the mid-Atlantic to the West Coast, the stock of homes listed for purchase has dropped by sometimes extraordinary amounts — 50% or more below year-earlier levels in several areas of California, according to industry studies.
August 20, 2009 |
Northrop Grumman Corp. is selling a unit that advises military and intelligence agencies and may fetch as much as $2 billion, four people familiar with the matter said. Northrop hired Goldman Sachs Group Inc. and Credit Suisse Group to solicit bids for the division, known as Tasc, said the people, who spoke on condition of anonymity. Among potential buyers are private-equity firms including Carlyle Group, Kohlberg Kravis Roberts & Co. and Blackstone Group, the people said. The U.S. Defense Department was ordered by Congress this year to tighten conflict-of-interest rules on firms such as Tasc and is pushing to reduce its spending on outside consultants.
September 19, 2012 |
The Los Angeles sports landscape was rattled Tuesday by news that the Anschutz Co. has put its AEG sports and entertainment empire up for sale. AEG owns stakes in the Staples Center, Kings, L.A. Galaxy and the Lakers in addition to being the driving force behind plans to bring the NFL back to Los Angeles with a proposed downtown stadium. So how will AEG's sale affect the Los Angeles sports scene? Times staff writers Bill Shaikin and Sam Farmer will tackle that question and many others in a Google+ Hangout scheduled to go live at 4 p.m. Pacific time.
May 30, 2012 |
A trio of Beverly Hills trophy estates once owned by Guess co-founder Georges Marciano are being sold through a bankruptcy proceeding. Marciano, 65, was countersued for defamation in 2008 by seven former employees who he alleged had embezzled millions of dollars. A jury awarded the employees $470 million, which the judge later reduced to $260 million. The sales are subject to court approval. The most expensive property is the former home of Columbia Pictures honcho Harry Cohn and, later, talk-show host Mike Douglas.
April 27, 2012 |
A case of tuna fish ... and a case of toilet paper ... and a home loan? Since when has Costco been in the mortgage business? Since last year, it turns out. That's when the Issaquah, Wash.-based discount giant began experimenting with offering home loans to some members via its website. Costco is so pleased with how things turned out that it's rolling out the service to everyone. Auto and student loans will follow soon. It makes sense. Costco has very loyal customers, and they're interested in financial services.
July 28, 2009 |
Five months after he opened PNK Pro Beauty Supplies in Glendale, owner Karhen Abramyan has put the shop up for sale. He's gotten a few lowball offers in the last few weeks, but no deal. "I have $60,000 in inventory here, I can't just sell it for $50,000," said Abramyan, who is asking $95,000. Blame the bad economy. Buyers and sellers of California businesses are hampered because the vast pools of money that once fueled sales have dried up.
October 4, 2012 |
"Star Wars" actor Hayden Christensen has listed a house in Studio City for sale at $2.65 million. Built in 1990, the modern-style house features a step-down living room, high ceilings, three fireplaces, five bedrooms and five bathrooms in its 6,302 square feet of living space. An elevator leads to the third-floor master suite, which has a fireplace and dual walk-in closets. The three-quarter-acre lot includes a saltwater swimming pool with spa, flat yard space, mature trees and a three-car garage.
CALIFORNIA | LOCAL
December 14, 2010 |
A state appeals court has stalled the controversial sale of 24 government buildings, ruling Monday afternoon that the transaction cannot go forward this week as planned and delaying it until at least January. The Schwarzenegger administration had hoped to help fill the state's yawning budget deficit by selling the buildings ? including the homes of the state Supreme Court and two appeals courts ? to raise $1.2 billion for this year's shortfall and then leasing them back. But two former members of the state building authority filed suit last month to halt the sale, arguing that it was a waste of taxpayer money.
February 8, 2011 |
Medical tool and chemical maker Beckman Coulter Inc., based in Brea, would be sold to a Washington, D.C., company for $6.8 billion under a deal being offered to stockholders. Beckman, which manufactures laboratory equipment for biotechnology research, would be purchased by Danaher Corp. and become part of its life sciences and diagnostics business. Beckman has been entertaining offers since late last year. The proposed sale to Danaher is the culmination of developments that began when the Food and Drug Administration said Beckman made unapproved changes to a heart disease test that resulted in faulty readings.
April 4, 2010 |
Could Congress' ambitious second round of home purchase tax credits -- especially the $6,500 repeat-buyer credit -- turn out to be lacking in terms of economic stimulus clout? With the April 30 deadline to sign home purchase contracts for both the $8,000 first-time buyer credit and the $6,500 version looming, some real estate and building experts are concerned that fewer consumers may be motivated by the credits this spring than last fall. The $6,500 credit, in particular, appears to be generating little buzz among shoppers.