MOST RECENT STORIES
LOS ANGELES >> Angels Flight, billed as the world’s shortest railway, should be back in operation on Wednesday or Thursday, a representative of the company operating the 116-year-old funicular said Tuesday. The Labor Day closure — which came just four days after Mayor Eric Garcetti presided over a ceremony marking its reopening after a four-year closure — was due to a damaged part that was likely weakened from 100-degree- plus temperatures over the weekend,...
Daily newspaper publishing
NEW YORK — The owner of two of the country’s largest newspapers has purchased the New York Daily News, a tabloid that is famous for generations of hard-punching reporting and irreverent headlines but that has struggled recently to find its place in the digital age. Chicago-based Tronc Inc., the publisher of the Los Angeles Times and the Chicago Tribune, announced the deal Monday night. The purchase gives Tronc and its chairman, Michael Ferro, who spent most of his...
Movie theater operation
Vegging out on the couch watching movies streamed from services like Netflix, Amazon, or Hulu is the great American pastime. But one startup is going against the grain to get people out of their homes and into the theaters. Can MoviePass’ amazing deal save traditional theaters? Earlier this month, New York-based MoviePass slashed its prices and launched a program allowing subscribers to watch one movie a day in its partnered theaters for less than $10 a month. The response...
Mergers and acquisitions
United Technologies Corp. agreed to buy Rockwell Collins Inc. for about $23 billion, creating an aerospace behemoth that can outfit warplanes and jetliners from tip to tail. Rockwell Collins shareholders will receive $140 a share in cash and stock, the companies said in a statement Monday. Including net debt, the total deal value is about $30 billion. The transaction, one of the biggest in aviation history, creates an aircraft-parts giant better positioned to withstand the...
When people debate air pollution in Southern California, images of the usual suspects arise — trucks belching diesel fumes, aging jalopies not yet snagged by the smog-testing authorities and smokestacks towering over refineries and other heavy industry. But often overlooked is another contributor: jetliners and other aircraft. While commercial air travel’s contribution to pollution — 12 percent of all greenhouse gases from transportation — is dwarfed...
Where you work can affect what you earn in Southern California, and the coastal counties are the place to go for a bigger paycheck. For the Inland area, the average hourly wage is 6 percent below the national average. In Los Angeles, it’s 12 percent higher, and
Government taxation and revenue
At this point, it’s practically a California tradition. First, state judges find a loophole in California’s constitutional bulwark against new, higher taxes. Then conservative legislators and anti-tax activists rush in to patch the hole with a new ballot proposition. This week, the state Supreme Court made the first move in this familiar two-step by issuing a ruling that both anti-tax crusaders and proponents of more local investment say could make it much easier...
Let’s be frank: This state’s housing affordability challenges have no simple cures. Once you give into that concept, many of the suggested fixes — options that bank heavily on traditional construction and subsidizing buyers in one form or another — seem too predictable and perhaps are unrealistic. Build-it-and-it-will-be-cured has a few wrinkles: Will those new units help current struggling residents, be gobbled up by investors or attract more...
Labor Day marks the end of the summer movie-going season, but well before the holiday weekend’s first barbecue is fired up Hollywood studios and theaters nationwide have been getting torched. Since the first weekend in May, moviegoers in the U.S. have spent $3.78 billion at the box office, according to the marketing data and analytics company comScore. That’s down nearly 16 percent from the same period last year. And when it comes to the actual number of tickets...
WASHINGTON — U.S. job growth slowed in August as employers added 156,000 jobs, still enough to suggest that most businesses remain confident in an economy now in its ninth year of recovery from the Great Recession. The unemployment rate ticked up from 4.3 percent to a still-low 4.4 percent, the Labor Department said Friday. Job growth in June and July was revised down by a combined 41,000, leaving an average monthly gain this year of a solid 176,000. Taken as a whole,...