Trade

WASHINGTON - Hall of Fame quarterback Joe Montana said they improved his strength and posture. Celebrity Kim Kardashian boasted they allowed her to ditch her personal trainer. But federal and state officials said the rocker-bottom Shape-ups and other toning shoes made by Skechers USA Inc. don't live up to the hype from the company and its high-profile endorsers. On Wednesday, the Manhattan Beach company agreed to pay $50 million to settle false-advertising allegations by the Federal Trade Commission and the attorneys general of 44 states, including California, as well as the District of Columbia.

U.S. stocks slid in early trading following renewed concerns about Greece being forced out of the euro common currency. The Dow Jones industrial average was down 87 points, or 0.7%, to 12,416, shortly after the opening bell. The broader Standard & Poor's 500 index was down 7 points, or 0.6%, to 1,309. The technology-focused Nasdaq was down 14 points, or 0.5%, to 2,825. Major European stock markets were down about 2%.

Times are tough enough for Californians; they're even tougher for Californians' teeth. "One-quarter of all adults and 28% of children in California have untreated dental caries [cavities]," says Len Finocchio, a senior program officer at the California Healthcare Foundation, a health advocacy group. "Our research tells us that many people in California have been avoiding routine care that might have cost about $100 for a checkup and cleaning, and then find themselves in the emergency room, where they get only an antibiotic, a bill that can average over $600 and instructions to see a dentist."

Monday was a busy day for the Tampa Bay Buccaneers on the tight end front.First they traded former all-pro Kellen Winslow to the Seattle Seahawks for an undisclosed conditional draft pick in 2013. Then they signed another ex-pro bowler in free agent Dallas Clark, formerly of the Indianapolis Colts.Last season Winslow led the Bucs in receptions (75) and was a very close second in receiving yards to Mike Williams (771 to 763).

PHOENIX — As hockey fever grips Los Angeles, Dodgers President Stan Kasten said he plans to explore whether the Kings could play in an NHL Winter Classic game at Dodger Stadium. "Facility-wise, we could certainly handle it," Kasten said. The NHL has yet to award its New Year's Day showcase to a warm-weather city. The Dodgers could offer baseball's largest stadium and the iconic backdrop of the San Gabriel Mountains. Kasten, former president of the NHL Atlanta Thrashers, said technology would allow ice to remain playable for an outdoor hockey game at Dodger Stadium but said he was unsure if the league would be interested.

A federal administrative judge ruled that pomegranate juice maker Pom Wonderful used deceptive advertising when it implied its products could treat or prevent serious diseases and other medical conditions. Judge D. Michael Chappell upheld much of a 2010 Federal Trade Commission complaint against the Los Angeles company owned by Lynda and Stewart Resnick. The judge said in his decision issued Monday that Pom used "insufficient" evidence to back its claims that Pom products "treat, prevent or reduce the risk of heart disease, prostate cancer or erectile dysfunction.

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.

The biggest home in Los Angeles County is ready for a new nickname: The 56,500-square-foot Manor, dubbed Candyland after owner Candy Spelling, has been sold to another wealthy socialite, British heiress Petra Ecclestone, in an all-cash deal for $85 million. As steep as that price is, it's not a record or even close to what Spelling was asking. The priciest Southland home transaction was the 2000 sale of an 8-acre estate in Bel-Air to financial executive Gary Winnick in a deal that included the trade of other land, for a total value of about $94 million.

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.

If you are a teacher in debt, there's good news and bad news. There are literally dozens of programs that could potentially help wipe out your student loans. But most of them have narrow requirements that may lock you out. Just ask Troy Dale, a high school counselor from Ellis, Kan. He and his wife have $23,000 in student loans that they've been paying down for nearly a decade. At their current rate, they'll still be paying off their student debts when their oldest child enrolls in college.

Facebook shares were taking another beating in early trading on Wall Street, falling more than 6% shortly after the opening bell. Facebook's stock was trading under $32 a share, $6 below its IPO price and where it settled on its first day of trading Friday. Facebook shares slid 11% on Monday. The social networking company's disappointing performance in its stock market debut is likely to continue to raise questions about the underwriting process for its highly hyped initial public offering.

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.

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.

As Facebook shares continued their slide, regulators launched inquiries into whether privileged Wall Street insiders were alerted to the company's weakening financial projections, leading them to shun the stock or dump shares just as buying was opened to the public. Morgan Stanley, which led the Wall Street effort to bring the social network public, came under fire following reports that the bank had told some favored clients that the bank was cutting its revenue estimates for Facebook.

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., still won't say how much the bank could wind up losing from risky trades that cost it at least $2 billion. "We're not going to give a running tally on losses," Dimon said at a Deutsche Bank investor conference in Manhattan. JPMorgan recently disclosed the bank lost $2 billion in complicated trades in its chief investment office, and said the losses could widen by as much as $1 billion. A recent account in the Wall Street Journal reported the trades could result in as much as $5 billion in losses.

Facebook Inc.shares skidded on their second day of trading on Wall Street, falling below the initial public offering price of $38. The stock plunged more than 13% at several points during the day, and closed just above $34. A number of analysts on Wall Street have criticized the stock's performance, and blamed banks who advised Facebook for pricing the shares too high. There were also complaints that Facebook flooded the market by floating too many shares, and that insiders were cashing out.  However, the broader market moved higher after stocks were punished last week.

There wasn't much to like about Facebook's first day as a public company. The social media giant's stock rose by mere pennies in its initial public offering. The shares closed at $38.23, barely above the $38 IPO price. The performance fell far short of the grandiose expectations of Wall Street and Silicon Valley, and raised questions about whether the company's stock will be the sure bet many had counted on. "There was all this pressure and hype and attention with all eyes on Facebook — and the starlet tripped on the red carpet," said Max Wolff, an analyst at GreenCrest Capital Management in New York.

As warehouses go, there are few like Skechers USA Inc.'s new 1.82-million-square-foot distribution center. This warehouse is so big that it takes half a minute to drive from one end to the other at 60 miles per hour. The setup is so advanced that human hands will hardly touch the cargo as it is unpacked, categorized, stacked and prepared for delivery. The building is so green that it uses prevailing winds for ventilation instead of air conditioning. For its new North American operations warehouse, the nation's No. 2 footwear company chose the Inland Empire's Moreno Valley.

Wall Street didn't get the Facebook effect it was hoping for. In a sign that the social networking giant may have already become a bellwether for its sector, shares of virtually every social media company sank Friday with Facebook Inc.'s lackluster debut on the stock market. Anticipating that Facebook would have a big day, investors had loaded up on social media stocks in recent weeks. Many backpedaled when Facebook's shares barely budged, rising just 23 cents, or less than 1%, from the initial public offering price of $38. "They were playing for a pop and didn't get it," said Michael Pachter of Wedbush Securities.

NEW YORK — First it popped, then it flopped. Facebook Inc.'s much-hyped debut on Wall Street was an event watched around the world. The social network's initial public offering valued it at $104 billion — more than market stalwarts such as McDonald's Corp. and Amazon.com Inc. The opening Friday seemed as if Facebook was destined for a big market surge, and the stock vaulted for a split second to $45. Then the surge evaporated and shares fell back to their IPO price of $38. Just 15 minutes after the stock opened for trading, the problems really began.