BUSINESS
May 2, 2012 | By Tiffany Hsu, Los Angeles Times
Collective Brands Inc., which owns footwear brands such as Sperry Top-Sider and Keds as well as the retailer Payless ShoeSource, will be split in two by multiple buyers in a purchase valued at $2 billion, including debt. Wolverine Worldwide, Blum Capital and Golden Gate Capital formed an acquisition company to buy Collective for $21.75 a share. The deal was unanimously approved by Collective's board and is expected to close by early in the fourth quarter. The price represents a 104% premium on Collective's 30-day average stock price before Aug. 24, when the company first announced that it was looking into a strategic and financial shift for its operations.
SPORTS
April 23, 2012 | By Mike Bresnahan
Monday was anything but manic for the Lakers, the time dripping by slowly as they awaited a ruling on Metta World Peace that never arrived from the NBA. The Lakers forward will surely be suspended for throwing an out-of-control elbow at Oklahoma City guard James Harden, though the need for an official edict from the league's disciplinary office in New York is lessened because the Lakers don't play again until Thursday. The Lakers didn't practice Monday and World Peace was suspiciously quiet on Twitter, but media members were ablaze with thoughts.
IMAGE
April 22, 2012 | By Jenn Harris, Los Angeles Times
At dress shops across Los Angeles, mother-and-daughter pairs dressed in jeans and high school sweat shirts that read "Seniors 2012" are on a mission. It's officially springtime, and for many a young woman in high school, that can mean only one thing: prom season has arrived. The hunt for just the right dress can be a challenge. The little black dress may be the suitable go-to for almost every other occasion, but for prom, a simple black dress won't do. The perfect prom dress has to dazzle in pictures, make the wearer feel like a princess and hold up to a full night on the dance floor.
ENTERTAINMENT
April 17, 2012 | By Chris Barton
This post has been updated. See below for details. Makers of the defiantly ugly (yet quite comfortable) footwear Crocs are apparently making the leap into the modern art world this June with a limited-edition design in honor of the 100th birthday of painter Jackson Pollock. The makers of the rubbery clog-styled shoes favored by chefs, hospital workers and all sorts of people who spend hours on their feet will release a paint-spattered version that was inspired by a photograph taken of the floor of the late painter's barn in Long Island, N.Y. Named for the artist and his late wife, Lee Krassner, the Pollock-Krasser House and Study Center in East Hampton will receive a royalty from each pair, which will list for $50, according to a report by the Associated Press.
BUSINESS
March 7, 2012 | By Jasmine Elist, Los Angeles Times
For a recent episode of the TV series "Modern Family," Raul Ojeda crafted a pair of shoes covered in red sequins for actor Jesse Tyler Ferguson. His character, Mitchell, shows off the shoes for a "Wizard of Oz"-themed birthday party he throws for his partner, Cam. A decade ago, Raul Ojeda was working as a shoe shiner. Now the 29-year-old is leaving his own footprint in Hollywood, supplying custom-made shoes to stars such as Steve Carell and Sally Field. Ojeda is the owner of Los Angeles-based Willie's Shoe Service, a shoe repair shop that has been providing footwear to the entertainment industry since 1956, when Willebaldo "Willie" Rivera opened a small business across from Paramount Pictures on Melrose Avenue.
ENTERTAINMENT
February 26, 2012 | By Marcia Adair, Special to the Los Angeles Times
Tucked away in the side streets of Mayfair, the world-famous tailors of Savile Row make gentleman's suiting to order for businessmen, gentry, politicians, oligarchs and Saudi princes. Six miles to the east, in Hackney, lies another temple to old-school English craftsmanship: Freed of London, makers of custom pointe shoes since 1929. In a small workshop flanked by midrise apartment blocks, a no-frills sandwich café and a betting parlor, 12 shoemakers each transform satin, canvas, cardboard, burlap and leather into 40 pairs of pointe shoes each a day. The company was started by cobbler Frederick Freed in 1929 in a Covent Garden shop basement.