MCA Inc. has commenced an exchange offer...

MCA Inc. has commenced an exchange offer for the 2.27 million shares of common stock of LJN Toys that it does not already own . . . A new regional airline, Westates Airline, began nonstop, thrice-daily service between LAX and Santa Rosa in the Napa-Sonoma Valley area . . . Walco National shareholders voted overwhelmingly to be acquired by Los Angeles investor Eli Jacobs in a leveraged buy-out valued at about $63.5 million.