May 15, 2013 |
About 300 labor union members and other activists staged a demonstration to protest the potential sale of the Los Angeles Times to the politically conservative Koch brothers. Demonstrators marched outside the downtown L.A. headquarters of Oaktree Capital Management, an investment firm that holds a roughly 20% stake in Tribune Co., which owns The Times. Protesters alleged that Charles and David Koch, billionaire siblings who fund conservative causes, want to buy The Times in order to skew the paper's coverage to favor anti-union objectives.
May 12, 2013 |
CHICAGO - Mike Trout spared the Angels the indignity of being on the wrong end of a perfect game or no-hitter Sunday night, grounding a single to center field with one out in the top of the seventh inning after Chicago White Sox starter Chris Sale retired the first 19 batters. That was it as far as offensive highlights for the Angels, who were one-hit by Sale in a 3-0 loss in U.S. Cellular Field that ended their win streak at three and dropped them to 14-23 and 10 games behind Texas in the American League West.
May 10, 2013 |
WASHINGTON - How hot is hot when it comes to housing markets across the country right now? Crazy hot: Some houses sell within days, sometimes within hours, of listing. Then there are the growing numbers that sell even before they formally hit the market - sold through a controversial technique known as "pocket listing. " What's a pocket listing? Essentially it's a private, "off-market" listing, often of short duration. Instead of putting the house on the local Multiple Listing Service, which exposes it to a vast number of shoppers and agents via real estate websites, agents restrict access to information about the house to their own buyer clients or colleagues in the same brokerage, hoping for a quick, full-price sale.
May 10, 2013 |
True Religion Apparel Inc., the Southern California purveyor of pricey designer denim, may have gotten too small for its britches. More than half a year after putting itself up for sale amid growth struggles and fluctuating stock, the high-end-jeans seller said its board unanimously accepted an $835-million takeover offer from investment firm TowerBrook Capital Partners. The $32-a-share deal for the Vernon label represents an 8.7% premium on Thursday's $29.44-a-share closing price and a 52% increase from the stock price Oct. 9, the day before True Religion said it would explore strategic alternatives.
CALIFORNIA | LOCAL
May 10, 2013 |
Federal regulators said Friday that they would continue to allow sales of generic Opana, a narcotic painkiller similar to OxyContin, even though the pills are prone to abuse. Like OxyContin, Opana is an extended-release narcotic designed to offer pain relief over several hours. When extended-release pills can be crushed, they are popular among addicts who snort the powder or liquefy and inject it, releasing the full dose at once. In response to growing criticism of its widely abused OxyContin, Purdue Pharma introduced a tamper-resistant formulation in 2010.
May 9, 2013 |
Riding a wave of increased auto sales, a weakening Japanese yen and a fresh lineup of vehicles, Toyota Motor's profits more than tripled during its most recent fiscal year. The Japanese automaker said earnings for the fiscal year ended March 31 rose to $9.7 billion (962.1 billion yen) from $2.8 billion (283.5 billion yen). It was the largest annual profit in five years. Sales were $223 billion (22 trillion yen), up 18.7%. A declining value of the Japanese yen, which makes foreign transactions more profitable, is helping Toyota's fortunes.