In LA Magazine: Down and Out on $135 Million a Year

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In the May issue: of Los Angeles magazine, a couple of real estate-y items worth checking out. Nicole Mann Novick sees signs of life among the office towers in Century City. And Mark Lacter, who blogs here as the business section of the LA Observed blogazine, takes a look at the rise and, well, not quite fall, of former KB Homes CEO Bruce Karatz.

I say ‘not quite fall’ because, if you make $227.4 million over five years, and nobody takes it away from you, well, you haven’t really fallen, have you? Favorite tidbit: on the way to spending half a million of the company’s dollars on personal travel in a year, Karatz was known to call his personal trainer on a Friday morning and say, ‘Meet me at the airport. We’re going to Monterey to play some golf.’