BUSINESS
February 3, 2012 | By Alex Pham, Los Angeles Times
Kazuo Hirai had little to celebrate after just being crowned the next chief executive of Sony Corp. Pummeled by a weak global economy, natural disasters and a strong yen that made its products more expensive overseas, Sony said it was on track to lose $2.86 billion in its current fiscal year, one of the Japanese technology and entertainment giant's worst annual results. The projected annual loss was more than double what Sony anticipated just three months ago when it forecast a $1.2-billion loss for its fiscal year ending March 31. Although the lion's share of the additional red ink - about $1.5 billion - would come from one-time charges from the sale of its stake in an LCD panel facility, foreign exchange fluctuations and other write-offs, about $181 million would be attributed to weakness in Sony's performance, analysts said.
CALIFORNIA | LOCAL
January 25, 2012 | By Anna Gorman, Los Angeles Times
Los Angeles County supervisors approved an ordinance Tuesday that requires new developments to have wider sidewalks, bicycle parking and other changes to promote exercise and reduce obesity. The ordinance also would make it easier for communities to start community gardens and hold farmers markets. "We are excited," said Susan Tae, the county's supervising regional planner. "This is the first step to address the healthier-built environment at the countywide level. " The ordinance, which affects unincorporated areas of the county, expands sidewalk widths to five feet, requires bicycle parking within developments and increases shade on sidewalks.
CALIFORNIA | LOCAL
January 1, 2012 | By Andrew Blankstein, David Zahniser and Joe Mozingo, Los Angeles Times
A rash of arson fires in the dark of night set Los Angeles on edge over New Year's Eve, and authorities deployed hundreds of extra firefighters, patrol cars, undercover officers and helicopters to stop the attacks. On Saturday night, firefighters rushed to multiple fires, quickly extinguishing a vehicle fire in a Hollywood carport and responding to another in the massive parking structure at Hollywood Boulevard and Highland Avenue. Those blazes followed at least 38 other suspicious fires between Thursday night and Saturday morning, making it the worst wave of arson since the 1992 riots.
BUSINESS
December 28, 2011 | By Ronald D. White, Los Angeles Times
A major expansion of the Panama Canal is raising alarms in Southern California, where business, labor and public officials are warning that the project threatens to dent the region's role in international trade. The $5.25-billion project will make the canal wider and deeper, allowing huge freighters from Asia to bypass West Coast ports and head straight to terminals on the Gulf Coast and East Coast. The neighboring ports of Los Angeles and Long Beach, which together handle about 40% of the nation's imported Asian goods, could lose as much as a quarter of their cargo business by some estimates after the Panama expansion is completed in 2014.
NATIONAL
December 7, 2011 | By Melanie Mason, Washington Bureau
The Obama administration, in an unexpected move, overruled a Food and Drug Administration decision that would have allowed anyone, regardless of age, to buy emergency contraceptives without a prescription. The pill, called Plan B One-Step, currently is available to women 17 and older without a doctor's order, though it is kept behind the counter. Teva Pharmaceutical Industries asked the FDA to make the drug available to those 16 and younger without a prescription. When taken within 72 hours of unprotected sex, the pill is effective in preventing pregnancy by restricting ovulation or blocking the implantation of a fertilized egg. Health and Human Services Secretary Kathleen Sebelius said in a statement that she was rejecting the company's request because Teva hadn't proved that girls as young as 11 would be able to use Plan B safely.
ENTERTAINMENT
November 16, 2011 | By James Rainey, Los Angeles Times
CBS moved Tuesday to reinvigorate its perennially-third-place morning news program, introducing two familiar personalities to help anchor the show and promising a broadcast with less fluff. The new, yet-to-be-named show, scheduled to debut Jan. 9, will feature PBS late-night oracle Charlie Rose and Gayle King, best known as personal and professional sidekick to Oprah Winfrey. Erica Hill, already host of the network's "The Early Show," will remain in place as the third member of the anchor team.