Results tagged “financialcrisis”

Not that it's any sort of surprise, but according to Moody's Economy.com, Los Angeles-- along with 17 other regional areas in California--are "in recession" according to their U.S. Regional Recession Status page. A handful of regions like San Francisco are considered at risk of entering into recession, but one region, San Jose-Sunnyvale-Santa Clara is the opposte--they are in expansion. Silicon Valley back on the rise? more ›

"Hollywood Casts Wall Street as Villain to Tap Anger at Crisis," writes Bloomberg in a headline about film and TV studios "rushing to tap America's fixation with the financial crisis and anger at the Wall Street executives blamed for it." For example, some current working titles include "The Wolf of Wall Street," "Confessions of a Wall Street Shoeshine Boy" and a familiar one, this time in sequel-mode, "Wall Street." "Our development is tied to what is relevant in today's world,'' Teri Weinberg, an NBC Entertainment VP said. "We hope to exemplify the foolishness of the human condition in the world of finance.'' And as usual, episodes of Law & Order will also be "ripped from the headlines." more ›

The Pasadena Symphony is citing "recent extraordinary conditions in the financial markets" as reason why they are canceling their November concert, according to Laurie Niles, a violinist who writes a blog. "What?" she writes. "A couple weeks of plummeting stocks and...kablouey? What about the sponsor that the Symphony already had lined up for the concert? Or the tickets that have been sold?" The symphony's website does not note any cancellation and a concert is also scheduled for this month. (h/t LAO) more ›

Has parking been easier in your neighborhood recently? It has been for one Echo Park resident who has noticed this trend, via The Eastsider LA: "As if following the financial markets, parking began to appear right as we approached the bail (fail) out and credit crisis. Each day more space, even at night. Now I see spaces in front as the Dow dips below 10,000 with each dive. Could Laguna Ave. be some kind of bellwether street for the economy?" more ›

The credit crunch is hitting the state, the LA Times via a letter they obtained addressed to Treasury Secretary Henry M. Paulson from Gov. Arnold Schwarzenegger. "The state of California is the biggest of several governments nationwide that are being locked out of the bond market by the global credit crunch. If the state is unable to access the cash, administration officials say, payments to schools and other government entities could quickly be suspended and state employees could be laid off," the Times Reported. more ›