BUSINESS
March 12, 2012 | By Jim Puzzanghera and E. Scott Reckard, Los Angeles Times
Homeowners more deeply underwater on mortgages handled by five major U.S. banking firms are prime candidates for getting help from a $25-billion nationwide settlement over alleged foreclosure abuses. That's because the settlement gives the nation's largest mortgage servicers more incentives to help those who owe 40% to 75% more than the value of their homes, according to details of the settlement filed Monday in U.S. District Court in Washington. In a complex series of formulas designed to maximize the effect of the deal reached last month, banks will get more than six times the credit for reducing loans for severely underwater borrowers than they would for helping those who owe 5% to 15% more than the value of their homes.
BUSINESS
October 30, 2011 | Ken Bensinger, Los Angeles Times
First of three parts Tiffany Lee wanted a car. She was weary of the two-hour bus ride to her job at a UCLA Health System clinic. She hated having to ask friends to drive her 7-year-old son to his asthma treatments. But as a single mother with three children, bad credit and a $27,000-a-year salary, she couldn't find a bank or dealership willing to give her a loan. Then a friend steered her to Repossess Auto Sales in Hawthorne. Another buyer might have balked at the deal she was offered.
CALIFORNIA | LOCAL
May 19, 2012 | By Patrick McGreevy, Los Angeles Times
SACRAMENTO - The state paid a $74,400 settlement to a company co-owned by the husband of state Sen. Mimi Walters (R-Laguna Niguel) after her office repeatedly called the prisons agency to check on a claim filed by the firm. The senator's husband, David Walters, co-owns a company that provides pharmacists to the California corrections system. The firm filed a claim with the state last year contending that the business was underpaid for its services. A spokesman for Mimi Walters said this week that the aide who made the calls, D. Everett Rice, was following the senator's policy to aggressively help constituents deal with state red tape.
TRAVEL
October 23, 2011 | By Karen Leland, Special to the Los Angeles Times
After hiking downhill 90 minutes on a three-mile trail with 26 switchbacks, we came to a clearing with a long, peaceful stretch of sandy white beach juxtaposed against the aqua ocean. Almost anywhere else in Hawaii, this majestic site would be an indication of a five-star resort around the corner. But here on the remote peninsula of Kalaupapa, on the island of Molokai, the end of the trail had only a small collection of worn, sun-washed wooden bleachers on which we sat and waited for a yellow school bus to arrive and take us on a tour of this critical piece of Hawaiian history.
BUSINESS
March 29, 2012 | By Nathan Olivarez-Giles
Apple's " antennagate " is finally coming to an end, with $15 going to each qualifying iPhone 4 owner who claims a share in a class-action lawsuit over the fourth-generation iPhone's infamous antenna problems. The settlement terms, announced Thursday with the launch of a website , will issue $15 in cash to owners of the iPhone 4 "who have experienced antenna or reception issues," "been unable to return their iPhone 4 without incurring any costs" and "been unwilling to use a case or free bumper for their iPhone 4. " Apple has been giving away free "bumper" cases to iPhone 4 owners since July 2010 , after consumers complained that the phone could lose its cellular signal if held certain ways.
BUSINESS
March 8, 2012 | Bloomberg News
Mario Batali, the celebrity TV chef and owner of a string of restaurants, is often seen with actress Gwyneth Paltrow, taste-testing the culinary delights of Spain in their public television series "On the Road Again. " Batali took a detour, through his lawyers, to New York federal court in Manhattan, where he was sued and accused of cheating workers of part of their tips for serving wine. He and his associate Joseph Bastianich agreed to pay $5.25 million to settle the class-action lawsuit, according to court papers.