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Paramount Television President Amy Powell is fired over inappropriate comments

Business / Business News /

LOS ANGELES -- Paramount Television President Amy Powell has been fired after making inappropriate comments, the movie and TV studio's Chief Executive Jim Gianopulos told staff Thursday.

In a memo obtained by the Los Angeles Times, Gianopulos told staff multiple people raised concerns about Powell's unspecified comments last week, sparking an ...Read more

City commission will consider bid to declare Los Angeles Times buildings historic-cultural monuments

Business / Business News /

LOS ANGELES--A bid to gain protected status for three Los Angeles Times buildings moved forward Thursday when the Cultural Heritage Commission agreed to consider an application to make them historic-cultural monuments.

Monument status could hinder a plan to redevelop the downtown L.A. block where they stand. The property is owned by Onni Group,...Read more

How dirty is Miami real estate? Secret home deals dried up when feds started watching

Business / Business News /

MIAMI -- When a company called the Flower of Scotland paid $1.13 million -- in cash -- for a three-bedroom condo in Sunny Isles Beach last year, it had to do something unusual: tell the federal government who its real owner was.

In years past, the Delaware-based shell company could have put down the money and walked away with a new condo -- and...Read more

JPMorgan Chase, Fifth Third invest in a $5.5 million fund for minority entrepreneurs in Chicago

Business / Business News /

CHICAGO -- JPMorgan Chase and Fifth Third Bank are investing $5.5 million in a new fund designed to boost minority entrepreneurs on Chicago's South and West sides.

The Chicago Entrepreneurs of Color Fund, modeled on a similar initiative in Detroit, will provide capital, training and technical services to entrepreneurs whose businesses have the ...Read more

The Mortgage Professor: Curbing HUD losses on HECM reverse mortgages

Business / Business News /

The HECM reverse mortgage program has been bleeding red ink. Losses on transactions in which the loan balance at termination exceeds the net recoverable property value have been larger than the insurance premiums FHA collects from all HECM borrowers.

According to news reports, FHA Commissioner Brian Montgomery is considering measures that would...Read more

The Brady Bunch house is for sale. Its broker expects an 'avalanche' — of lookers, at least

Business / Business News /

LOS ANGELES -- Here's the story of a lovely family home, which just hit the market for $1.885 million.

The Brady Bunch house, a Traditional-style residence near the Colfax Meadows neighborhood, was used for outdoor representations of the beloved television family's abode. That included the show's opening and closing scenes as well as numerous ...Read more

Real estate Q&A: Quick answers on rental leases

Business / Business News /

I get many rental-related questions where the answers are too short to write a whole column about -- but they are important questions. Here I answer several of them.

Q: I have rented part of a house for several years, paying monthly without a written lease, and recently the landlord significantly raised the rent. Can he do this? -- Nancy

A: ...Read more

Musk enlisted Sierra Club to deflect flak over GOP donation

Business / Business News /

WASHINGTON -- Elon Musk personally dialed up the head of the environmental group the Sierra Club and asked for help with deflecting criticism over donations that the chairman of Tesla Inc. made to Republicans, according to an email that the head of the nonprofit sent to his staff.

Musk on Saturday called Michael Brune, the Sierra Club's ...Read more

Democrats rip Trump's CFPB nominee, calling her role in controversial administration policies 'a moral stain'

Business / Business News /

WASHINGTON -- Senate Democrats on Thursday aggressively ripped into President Trump's nominee to head the Consumer Financial Protection Bureau, saying her involvement as a White House aide in controversial administration policies disqualified her from watching out for average Americans.

In a highly charged confirmation hearing, Democratic ...Read more

Walt Disney Co. to claim 21st Century Fox entertainment assets after Comcast drops out of the bidding war

Business / Business News /

LOS ANGELES -- The Walt Disney Co. has prevailed in the bidding war for much of Rupert Murdoch's empire after Comcast Corp. said Thursday that it was dropping out of the fight for 21st Century Fox's entertainment assets to instead focus on its bid for European pay-TV giant Sky.

Comcast's early morning announcement hands a key victory to Disney ...Read more

Auto leaders at hearing say tariffs will cut U.S. jobs, raise consumer costs

Business / Business News /

WASHINGTON -- Automotive officials Thursday blasted President Donald Trump's proposed tariffs on imported autos and auto parts, with trade groups saying a tax of 25 percent on imports will increase costs on American-made cars as well, resulting in decreased production and jobs losses.

While thanking Trump for his leadership, former Missouri Gov...Read more

JetBlue founder plans to launch a new low-cost airline

Business / Business News /

The number of airlines has been shrinking in the last decade as airlines merge and acquire rivals, cutting competition and reducing choices for air travelers.

Now David Neeleman, founder of JetBlue and a major investor in the Portuguese airline TAP and Brazilian carrier Azul, says he is leading a group of investors to create a new airline in ...Read more

Foreign tech workers face higher hurdles in visa applications

Business / Business News /

NEW YORK -- For highly skilled foreign workers applying for a new work visa or an extension, the stakes involved just got a whole lot higher.

The U.S. Citizenship and Immigration Services recently updated its guidance, taking a much stricter approach to approving applications that are largely filed by those seeking work in the tech industry.

...Read more

Even 5 years later, retirees feel the effects of Detroit's bankruptcy

Business / Business News /

DETROIT -- Five years after Detroit's bankruptcy filing, retiree Barbara Yokom feels the financial hit each time she pays about $940 a month for health coverage.

It's a bill that Yokom, 64, receives now only because the city ran into deep financial troubles and filed for Chapter 9 bankruptcy relief July 18, 2013. Her health-care insurance was ...Read more

Chicago's boom in downtown jobs did not benefit some city's disadvantaged communities, study shows

Business / Business News /

CHICAGO -- As the number of jobs downtown rapidly increased in recent years, the number of people with those jobs who also live in Chicago's vulnerable, African-American communities declined, a new study shows.

It means that even as more residents obtained well-paying downtown jobs, fewer of those workers were living in communities where their ...Read more

Seattle tops the nation in tower cranes for third straight year as construction reaches new peak

Business / Business News /

SEATTLE -- Seattle is the crane capital of America for the third year in a row, as construction across the city has rebounded strongly from a relative lull in early 2018.

Seattle has 65 of the towering construction cranes reshaping its skyline, 25 more than the next U.S. city.

Seattle had held steady at 60 or so cranes over the last few years,...Read more

Detroit's historic bankruptcy and more contributed to city's revival

Business / Business News /

DETROIT -- When historians write about Detroit's recovery from decades of decline, they will no doubt credit the city's successful 2013-14 trip through municipal bankruptcy as a key reason for the comeback.

Started with the filing five years ago Wednesday, the bankruptcy wiped several billion dollars of debt from the city's books. The ...Read more

Sinclair offer to alter Tribune deal fails to avert hearing

Business / Business News /

WASHINGTON -- The U.S. Federal Communications Commission will send Sinclair Broadcast Group Inc.'s $3.9 billion deal to buy Tribune Media Co. to a hearing, brushing aside the broadcaster's offer to revise divestiture plans to meet the agency's objections.

Chairman Ajit Pai won unanimous support from his fellow commissioners late Wednesday for ...Read more

White House touts CFPB nominee's management experience. Democrats link it to major controversies

Business / Business News /

WASHINGTON -- Kathy Kraninger, the president's choice to be the nation's top consumer financial watchdog, lacks any apparent consumer-protection, regulatory or industry experience -- but Republicans say that all is offset by her management and budgetary skills.

Democrats aren't impressed. They contend that the nominee for director of the ...Read more

Johnson and Johnson picks Penn for research node

Business / Business News /

Work is underway on a "JPOD" telecom "networking hub" that is set to open this fall, connecting University of Pennsylvania researchers and area start-ups to funders and scientists at Johnson & Johnson, the New Jersey-based drug and medical-supply giant. All this networking will occur at the school's Pennovation Works business incubator at 34th ...Read more