BUSINESS
May 18, 2012 | By Shan Li and Michelle Maltais, Los Angeles Times
Social media start-up Pinterest has raised $100 million in a recent financing round led by a Japanese online retailer, increasing the estimated value of the virtual scrapbooking company to $1.5 billion. Japanese e-commerce firm Rakuten Inc. led the fundraising for the Palo Alto company, which is now ranked by Experian as the third-most-popular social network behind Twitter and Facebook. Pinterest users check out thousands of images collected by fellow users and "pinned up" on their online scrapbooks.
OPINION
May 16, 2012
Re "A woman's touch," Opinion, May 11 Why is it such an amazing idea that "mom" might have some answers on running a business? Thousands of years of patriarchal dominion, with men's values of "assertiveness, competitiveness and even aggression," have given us endless wars, price-gouging, indecent pay inequalities, discrimination, concentration camps, slavery, child labor, class warfare and holocausts. If women had had a public voice these past few thousand years, what kind of world would we have?
NEWS
May 15, 2012 | By Kathleen Hennessey
WASHINGTON -- His book sales may be slowing, but President Obama appears to be on solid financial footing. The president reported assets that could exceed $8 million, according to financial disclosure forms released by the White House on Tuesday. Obama's precise net worth is impossible to discern from the forms, which require public officials to report assets and liabilities only within broad ranges. The forms showed assets of between $2.6 million and $8.3 million. Obama listed a JPMorgan Chase checking account valued at between $500,000 and $1 million, notable as the bank faces federal regulator scrutiny for a $2-billion trading loss.
BUSINESS
May 10, 2012 | By Jerry Hirsch, Los Angeles Times
The collector car market, which slumped with the economy, is coming back along with the rest of the auto industry. But don't expect to pick up a classic Tucker or Duesenberg without ponying up money like a Facebook executive. Many of these cars are selling for well over $1 million. By one measure, the value of collectible cars has surged 33% since the depth of the recession in 2009. The Hagerty collector car blue-chip index - a Dow-like gauge that averages the values of 25 of the most sought-after collectible automobiles of the postwar era - climbed to $1.25 million from $940,000 in September 2009.
OPINION
May 6, 2012
Re "Border drones have yet to prove worth," April 29 The looming proliferation of drones is chilling. How is a country that values freedom seemingly OK with this? As someone who has never been arrested, I don't want these creepy unmanned things buzzing over my head. As they become cheaper, drones will fill the skies, and anyone from the neighborhood busybody to a suspicious spouse will employ them. That walk you love in the wilderness will no longer be guaranteed to be yours alone and surveillance-free.
CALIFORNIA | LOCAL
May 4, 2012 | By Jack Dolan and Ruben Vives, Los Angeles Times
Corruption allegations roiling the Los Angeles County assessor's office have reached a former Hollywood landmark: the Old Spaghetti Factory on Sunset Boulevard. Last summer, Ramin Salari, a property tax consultant and campaign fundraiser for county Assessor John Noguez, lobbied to reduce the shuttered restaurant's tax bill because, he said, the land it sat on wasn't worth the $14 million his clients had paid for it. He convinced Noguez's staff to assess the shuttered eatery, and four smaller parcels nearby, for $7.2 million.