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Donnelly concedes loss to Kashkari in gubernatorial primary
Republican gubernatorial candidate Tim Donnelly conceded defeat on Tuesday, as GOP rival Neel Kashkari won the right to challenge Gov. Jerry Brown in November. "Unfortunately the numbers don't lie," Donnelly told supporters at the Roosevelt Hotel in Hollywood. Shortly before midnight, the San Bernardino County assemblyman said he'd called Kashkari to concede. "Rigged!" people yelled. Donnelly said he was disappointed to see the numbers turning against him, but heartened by what a “rag-tag band of patriots” was able to pull off. He said the “political establishment” still represents the greatest threat to the people’s...
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Donnelly concedes loss to Kashkari in gubernatorial primary
Republican gubernatorial candidate Tim Donnelly conceded defeat on Tuesday, as GOP rival Neel Kashkari won the right to challenge Gov. Jerry Brown in November.
"Unfortunately the numbers don't lie," Donnelly told supporters at the Roosevelt...
L.A. investment bank Moelis & Co. files for IPO
Moelis & Co., a boutique Los Angeles investment bank, filed for an initial public offering, seeking to capitalize on the soaring stock market and a recent pickup in corporate mergers.
The firm was founded in 2007 by Ken Moelis, a longtime Southern...
Cheesecake Factory cooks up a recipe for success
People like rich, tasty food — and sweet, smooth desserts.
That's a recipe the Cheesecake Factory Inc. has been following for more than three decades.
The company's roots can be traced to the home kitchen of Evelyn Overton, who ran a small baked goods...
Investment bank Moelis' stock jumps after scaled-down IPO
Moelis & Co. climbed in its trading debut after raising less than planned in the first U.S. initial public offering of an investment bank since the financial crisis.
The shares rose 4.6% to $26.15 on Wednesday after pricing at $25. Moelis raised $163...
Moelis seeks $1.58-billion valuation in IPO
Boutique Los Angeles investment bank Moelis & Co. is seeking a valuation of as much as $1.58 billion in its initial public offering.Moelis may raise as much as $243.5 million by selling 8.4 million shares for $26 to $29 each, according to a regulatory...
L.A. controller suggests merging management of two pension systems
Los Angeles City Controller Ron Galperin called on pension officials Wednesday to take new steps to cut costs — possibly by merging the management of two of its three retirement systems.
During the recession and in its aftermath, pension costs for Los...
Dov Charney intensifies effort to regain control of American Apparel
Dov Charney intensified the campaign to get his job back at American Apparel Inc., the company he founded that unceremoniously ousted him last week.
Charney, who owns a 27% stake in the company, appears to be positioning himself to take back control of...
Shopping for a mortgage? Some lenders offer closing-cost credits
WASHINGTON — The government shutdown and the debt limit have dominated the headlines, but a behind-the-scenes fight over federal mortgage policy has been brewing and it could affect your choices the next time you apply for a home loan.
The issue concerns...
Disney recommends investors reject stock-purchase proposal
The Walt Disney Co. has recommended that its investors reject an offer from TRC Capital Corp. to purchase shares of the Burbank entertainment company's stock at a price that is below their market value.
Investment firm TRC made the unsolicited...
Ex-KPMG partner was sting target
It was the Starbucks sting.
The defining moment in the KPMG insider-trading scandal took place over coffee at a Starbucks in the San Fernando Valley, where the accountant at the center of the case was set up by his longtime friend.
Scott London...
Real estate investment trust yields robust rewards despite risk
Sinking money into real estate investment trusts is considered to be one of Wall Street's most complex investments.
Owning shares of REITs gives investors an opportunity to get investment exposure to real estate, including apartments, shopping centers...
Daily fantasy sports sites betting on lure of instant payouts
On some days, Christopher Batsche can walk away with hundreds of dollars with a $2 buy in. But he's not heading to casinos and he isn't playing online poker.
Instead, the 27-year-old from Cincinnati goes to a website before the day's Major League...
County treasurer targets contributions to school bond campaigns
Financial underwriters who want to do business with the County of Los Angeles must agree not to give political donations to school bond campaigns under new rules adopted this month by government finance officials.
Because Los Angeles County is by far the...
California to get $750 million in energy crisis settlement
SACRAMENTO — A Canadian power company will pay California electricity ratepayers $750 million to settle allegations that it bought electricity from the state and then sold it back at a huge markup during the energy crisis of 2000 and 2001.
The settlement...
L.A. landlord Thomas Properties will be sold to Florida REIT
Los Angeles commercial landlord Thomas Properties Group Inc., which revived downtown's massive City National Plaza, is fading from the local landscape.
The company has agreed to be sold to Parkway Properties Group Inc., a real estate investment trust...
BofA, Alcoa and HP are ousted from Dow Jones index
NEW YORK — The stock market's all-star team has some new players.
Leaving the Dow Jones industrial average is aluminum giant Alcoa Inc., computer-maker Hewlett-Packard Co. and financial behemoth Bank of America Corp. Joining the index of 30 blue-chip...
BlackRock agrees to end analyst survey program
BlackRock Inc., the world's biggest money manager, agreed to end an analyst survey program that New York Atty. Gen. Eric Schneiderman concluded could be used to execute trades based in part on nonpublic information.
BlackRock agreed to discontinue use of...
Pimco chief El-Erian to leave global investment firm in March
Mohamed El-Erian unexpectedly resigned from his post as chief executive and co-chief investment officer of global investment management firm Pimco on Tuesday, the firm said in a statement.
El-Erian will leave the firm in March and will remain a member of...
Investors place big bets on Buy Here Pay Here used-car dealers
The J.D. Byrider used-car dealership in Visalia, Calif., sits amid a jumble of tow yards, hubcap vendors and vacant lots littered with empty beer cans.
It may not look like much, but selling aging cars to waitresses, secretaries and farmworkers is...
Grand dream loses sheen in glare of daylight
Larry Eisenberg had a vision. "Amazing," he called it. "Spectacular."
The Los Angeles Community College District would become a paragon of clean energy. By generating solar, wind and geothermal power, the district would supply all its...
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