BUSINESS
July 15, 2011 | By Lauren Beale, Los Angeles Times
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.
BUSINESS
March 4, 2012 | By Kenneth R. Harney
The most ambitious federal mortgage program to date aimed at millions of underwater homeowners is poised to take off in the coming two weeks, yet some key issues could hinder borrower participation. One of them involves something most owners know nothing about: Who was your mortgage insurer on your underwater loan? Though it was announced by the Obama administration late last year, "HARP 2.0" — the second version of the Home Affordable Refinance Program — will finally hit full stride around the middle of this month, when Fannie Mae and Freddie Mac finish tweaking their automated underwriting systems to accept applications, and lenders and mortgage insurance companies start handling large volumes of requests.
WORLD
May 21, 2012 | By David S. Cloud and Kathleen Hennessey, Los Angeles Times
CHICAGO - When the White House sent a last-minute invitation for Asif Ali Zardari to attend the two-day NATO summit, they were taking a highly public gamble. Would sharing the spotlight with President Obama and other global leaders induce the Pakistani president to allow vital supplies to reach alliance troops fighting in Afghanistan? But long before the summit ended Monday, the answer was clear: No deal. Zardari's refusal to reopen the supply routes left a diplomatic blot on a summit that NATO sought to cast as the beginning of the end of the conflict in Afghanistan.
BUSINESS
July 8, 2011 | By Lauren Beale, Los Angeles Times
A diamond-encrusted lining is emerging in Southern California's cloudy real estate market. At least a half-dozen Westside mega-estates have sold for more than $20 million so far this year — creating a deafening buzz in local realty circles. Only a few home sales in other Southland counties have surpassed the $20-million mark. On the horizon is the close of Candy Spelling's larger-than-White-House-sized "Manor," which has reigned supreme from its $150-million listing price perch in Holmby Hills for more than two years and is expected to eclipse last year's record $50-million Bel-Air sale by a wide margin.
NATIONAL
May 20, 2012 | By Alana Semuels, Los Angeles Times
LAFAYETTE, La. - Visitors to this oil town might be forgiven for wondering whether the BP oil spill and subsequent drilling moratorium ever happened. "Now hiring" signs are plastered on billboards around town, and hotels such as the Crowne Plaza are chock full of seminars training students to work on offshore rigs. Many offshore companies can't find enough workers for the jobs they're listing. This parish has the lowest unemployment rate in Louisiana, 4.8%. Such is the opportunity on the offshore rigs that Sheila Clark, whose husband, Donald, died in the Deepwater Horizon explosion two years ago, said her 22-year-old son recently asked her how she'd feel if he went to work on a rig. "I can't stop him," said Clark, who moved to Baton Rouge after her husband's death.
ENTERTAINMENT
October 17, 2009 | Suzanne Muchnic
In his early days, Ed Ruscha painted single words that packed a punch: "oof," "slam," "smash," "honk." In the '80s, he took a subtler approach, floating equivocal phrases in painted skies. Consider "I Think I'll . . .," a 1983 piece that has moved into the first family's living quarters at the White House, courtesy of the National Gallery of Art in Washington. The longer you look at the painting, the more words emerge from a streaky red sunset. The phrase "I think maybe I'll . . .," in large block letters, descends from the top left to lower right of the 53 3/4 -by-63 3/4 -inch canvas.