Business
/ArcaMax
Landlords face a $1.5 trillion commercial real estate maturity wall
Landlords for offices, apartment complexes and other commercial real estate have $1.5 trillion of debt due by the end of next year, according to Jones Lang LaSalle Inc. That leaves a gap of as much as $400 billion between the amount owed and the capital available for refinancing.
The value of buildings has broadly dropped after higher interest ...Read more
Real estate Q&A: Can condo board make us pay for renovations to amenities we don't use?
Q: We live in a small condominium. Our board just told us that we need to pay extra each month for the next few years to cover the cost of renovations, including the little gym near the lobby. They did not ask us if we were OK with this or put it up for a vote. We never use the gym. Can they make us pay for this? —Henri
A: In condominium ...Read more
He pays $2,000 a month for a hotel room, and he can't afford to move
PALM HARBOR, Florida — They drove, windows down, past the big box stores. Past the other roadside motels and hotels, where other families lived.
When they pulled up to the modest house on Guardian Avenue, Richard Rodriguez took a deep breath. He was 52, with kind, tired eyes. He didn’t want to get his hopes up.
It had been four years since...Read more
US airlines may soon face cash penalties for delayed flights
If you’ve flown domestic in the U.S. in the last four years, you’ve likely faced at least one or two flight delays or cancellations—or worse, complete system outages—and found yourself footing the bill, without recourse from the airlines.
But there’s potential relief on the horizon: The Biden Administration is working full steam ...Read more
Why Colorado's produce harvest requires a human touch
Before dawn on a cool July morning, the rumble of cars breaks the silence on a farm on Colorado’s Western Slope. Agricultural workers, prepared for the sunrise with long-sleeved shirts and baseball caps, gather on the road to await the start of the first day of sweet corn harvest.
John Harold, founder of Tuxedo Corn Company in Olathe, has run...Read more
Michael Hiltzik: This hilarious lawsuit by NFL Players Association against DraftKings shows the dark underside of sports betting
It's always amusing to see a business suffer from the turnabout-is-fair-play principle, so we owe props to the National Football League Players Association, which has delivered a stinging hit on DraftKings in a lawsuit over the gambling firm's attempt to slink out of its payments on a licensing deal.
DraftKings, the NFLPA asserts in the lawsuit...Read more
Would a Kroger and Albertsons merger drive grocery prices up or down? The answer is complicated
As grocery giants Kroger and Albertsons push to carry out the largest proposed supermarket merger in U.S. history, the companies’ executives have made a contentious claim.
Joining forces, they say, will push food prices down, not drive them up as U.S. regulators argue will happen if the deal is allowed to go through.
“The day that we merge...Read more
Business, auto groups urge officials not to let politics interfere with US Steel deal
WASHINGTON — A collection of major business groups urged top Biden administration officials Wednesday not to let "political pressure" influence decisions on a proposed acquisition of U.S. Steel by Japanese company Nippon Steel.
They did so in a letter sent to Treasury Secretary Janet Yellen and other members of the Committee on Foreign ...Read more
Stellantis spending $406 million for EVs, hybrids across 3 Michigan plants
Stellantis NV said Wednesday it's investing $406 million across three Michigan plants as it gears up to add more electric vehicles and hybrids to its lineups.
The maker of Dodge, Chrysler, Jeep and Ram said the investments are happening at the Sterling Heights Assembly Plant, the Warren Truck Assembly Plant, and the Dundee Engine Plant, and ...Read more
Core US inflation picks up, damping odds of outsize Fed cut
Underlying U.S. inflation unexpectedly picked up in August on higher prices for housing and travel, undercutting the chances of an outsize Federal Reserve interest-rate cut next week.
The so-called core consumer price index — which excludes food and energy costs — increased 0.3% from July, the most in four months, and 3.2% from a year ago, ...Read more
Meta's home county backs call for warning labels on social media posts
San Mateo County, California, home to tech giant Meta, urged Congress to pass legislation requiring social media companies to add labels to their platforms warning people about their potential to harm users’ mental health.
The Board of Supervisors unanimously passed a resolution Tuesday, the same day 42 state attorneys general, including ...Read more
Trying to expand a cannabis business, surrounded by moratoriums
CROOKSTON, Minnesota — In a former cellphone store at the Canna Corners operation on Main Street, customers came in and out on a summer afternoon — a young man in sandals and backpack, a retiree in a veteran’s cap.
“My wife takes half a gummy every day before bedtime. It helps her sleep,” said Mike Lafrance, noting his wife suffers ...Read more
Amid Boeing's Starliner troubles, WA space industry thrives
It’d be reasonable to think Washington’s space economy has a lot riding on Boeing’s Starliner, the spacecraft that left two astronauts stranded on the International Space Station and headed back to Earth with an empty cabin Friday.
The astronauts were scheduled to return on Starliner in June after a week on the ISS, but thruster failures ...Read more
How Ford is using AI, augmented-reality and 3D printing to improve quality
Artificial intelligence-powered photographic inspections, 3D-printed tools and augmented-reality training headsets are part of Ford Motor Co.'s strategy to improve vehicle quality, something that has continued to plague its financial results.
The Dearborn automaker in the second quarter was slammed with a more than 5% decline year-over-year in ...Read more
Young climate voters were tired of Biden. They've embraced Harris -- mostly
Wei Zhou moved to the United States from Cambodia at age 13, leaving behind a Southeast Asian nation ravaged by worsening droughts and floods. By 14, Zhou had started volunteering for the Sunrise Movement, their climate activism informed by a keen sense that the world’s great injustices — among them global warming, poverty and genocide — ...Read more
Do this right now if your Social Security number was snared by hackers
In 2020, there were 1,108 data compromises. By 2023, the number of compromises reached 3,205, according to the Identity Theft Resource Center, a nonprofit based in El Cajon, California.
The most recent high-profile breach: An estimated 2.9 billion Social Security records, or 272 million unique Social Security numbers, were stolen from a Florida...Read more
Disney's request to restore ABC for Trump-Harris debate touches off more squabbling
The Walt Disney Co.'s proposal for a partial, temporary detente as the blackout of its channels on DirecTV and U-Verse stretches into its 10th day has devolved into another round of bickering.
Early Tuesday, Disney offered to restore the ABC network to DirecTV, U-Verse and DirecTV Stream customers for tonight's highly anticipated debate between...Read more
Philanthropists invest $15 million in LA County local news
With local news struggling to survive, a collective of Los Angeles media executives and philanthropists launched an ambitious nonprofit group Tuesday to bolster L.A. County's local news ecosystem, support small independent media and build public trust in media.
The new organization, Los Angeles Local News Initiative, has raised almost $15 ...Read more
CT nuclear power plant offers plan for storing hazardous waste. What to know
After operating for decades, the Millstone nuclear power plant is seeking “final closure” of three hazardous waste storage and management units in Waterford, Connecticut.
Dominion Energy, which owns Millstone, needs approval from the state Department of Energy and Environmental Protection for the plan that covers three separate buildings at...Read more
Boeing Machinists union chief expects members will reject deal, strike
After an overwhelmingly negative reaction to a deal struck by Boeing and Machinists union leaders, union leader Jon Holden said Monday he expects rank-and-file members will reject the contract and strike late this week.
“The response from people is it’s not good enough,” Machinist union district 751 president Holden said in an exclusive ...Read more
Popular Stories
- He pays $2,000 a month for a hotel room, and he can't afford to move
- Red Lobster bankruptcy exit gets green light. Fate of the all-you-can-eat shrimp deal unclear
- Michael Hiltzik: This hilarious lawsuit by NFL Players Association against DraftKings shows the dark underside of sports betting
- Would a Kroger and Albertsons merger drive grocery prices up or down? The answer is complicated
- Meta's home county backs call for warning labels on social media posts