For the record - July 13, 2011
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CKE Restaurants: An article in the July 1 Business section about the parent of Carl’s Jr. restaurants refocusing its offerings and advertising said CKE Restaurants Inc. was owned by Apollo Management in Cleveland. The company is owned by investment entities managed by Apollo Management VII in New York.
Mall deal: An article in the July 9 Business section about the sale of the La Cañada Flintridge Town Center said the Olberz family, founders of the Sport Chalet chain, sold the $60-million mall for more than $40 million, implying a loss of about $20 million. The article failed to state that the sale involved only 7.6 acres of the 10.3-acre mall. The figure of $60 million cited in The Times in 2008 and 2009 was based on the owners’ estimate of the property’s worth, not its development costs. The Olberz family said it realized a profit on last week’s sale, but declined to provide details.
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