SPORTS
May 24, 2012 | By Philip Hersh
When historians of such things seek the moment the U.S. Olympic Committee found a way to forge the agreement Thursday that put the U.S. back in the game as a potential Olympic Games host, they need look no further than Oct. 7, 2009. It was five days after Chicago had suffered a humiliating first-round loss in the International Olympic Committee vote for host of the 2016 Summer Olympics. There quickly followed calls for heads in the USOC leadership to roll. It was the day USOC Chairman Larry Probst got so angry about being called out by some of his constituents, including athletes and the heads of the national sports federations, that he vowed to show them.
BUSINESS
May 23, 2012 | By Tiffany Hsu, Los Angeles Times
Benihana Inc., the Japanese-style and sushi restaurant chain known for slicing, dicing and frying food in front of diners, has accepted an offer to be sold to a private equity group for $296 million. Angelo, Gordon & Co. plans to pay Benihana shareholders $16.30 a share in cash in a transaction that's been approved by the Miami-based chain's board. Benihana shareholders must also approve the acquisition. The price is a premium of 46% over the average closing price for the 30 days before March 13, when Benihana first said it was exploring strategic alternatives for its business.
BUSINESS
May 22, 2012 | By Salvador Rodriguez
Mark Zuckerberg on Tuesday completed the transaction of the 30.2 million shares he sold in Facebook's IPO Friday. The shares he disposed of sold for $37.58 a piece, bringing him a cool $1.1 billion. But despite all that money, the Facebook CEO will be spending most of it to cover taxes, according to a document filed with the Securities and Exchange Commission.
BUSINESS
May 22, 2012 | By Jessica Guynn, Los Angeles Times
Maybe what Facebook really needs is a "buy" button. After a lifeless opening last week, Facebook shares tumbled on their second day of trading, losing about $10 billion in market value Monday as investors questioned the company's revenue prospects. Shares of the Menlo Park, Calif., social network fell to as low as $33 before closing down $4.20, or 11%, to $34.03. It was unclear if Facebook shares got help from traders at the company's lead underwriter, Morgan Stanley, who stepped in Friday to prop up shares just a hair above their $38 offering price.
BUSINESS
May 22, 2012 | By Andrew Tangel, Los Angeles Times
NEW YORK Shortly after Goldman Sachs Group Inc.'s board learned of famed investor Warren Buffett's $5-billion lifeline at the height of the financial crisis, then-director Rajat Gupta phoned hedge-fund manager Raj Rajaratnam. Rajaratnam, a federal prosecutor said Monday, then used that information when he snapped up Goldman stock before the deal was announced in September 2008. Prosecutors said Gupta helped Rajaratnam make $1 million in just six minutes with the help of illegal inside information.
ENTERTAINMENT
May 21, 2012
Robert Redford Before his superstar days, Redford appear in the Oct. 20, 1961, episode, "First-Class Mouliak," directed by William Conrad of "Cannon" fame Sam Peckinpah "The Wild Bunch" director cut his teeth in TV. He directed the "Mon Petit Chou" episode that aired Nov. 24, 1961, with guest Lee Marvin Boris Karloff Karloff joined fellow movie monsters Lon Chaney Jr. and Peter Lorre in the "Lizard's Leg and Owlet's...