By Melissa Pamer, Staff Writer
Article Launched: 10/23/2008 10:08:23 PM PDT
Despite a lingering dispute over a planned Carson-area high school, Los Angeles school representatives and local elected officials donned hard hats and grins Thursday to break ground on the campus.
The Carson High School drill team and marching band performed, as did first-graders from neighboring Dominguez Elementary School
, while construction workers operated heavy machinery at the nearby building site.
By ALEX VEIGA
AP Business Writer
October 26, 2008
Heavy discounting on foreclosed homes and low interest rates continued to power a homebuying spree across the West in September, sending sales of existing homes in the region soaring at an annual pace reminiscent of the days of the housing boom, according to two reports Friday.
About 100,000 existing homes and condos were sold last month in the 13-state region. Without adjusting for seasonal factors, sales were up nearly 43 percent from the same month last year, but declined 9.6 percent versus August's total, according to the National Association of Realtors.
With sharply discounted foreclosures making up a larger slice of overall sales, the median price in the West plunged almost 19 percent from a year ago to $253,600 - slightly higher than what the median was five years ago, the association said.
DailyBreeze.com
By Melissa Pamer, Staff Writer
October 26, 2008
Among the dozens of red-tile rooftops that now dot Rancho Palos Verdes' Long Point, workers are beginning to put the finishing touches on a massive seaside resort that has finally taken shape in recent months.
After more than a decade of planning, Terranea Resort is readying for its June debut, when all elements of the upscale pleasure dome are set to open simultaneously - including a 360-room hotel, 33 meeting rooms, 20 bungalows, 82 casitas and villas, a nine-hole golf course, three restaurants and a spa.
Press-Telegram
10/26/08
The California Foreclosure Institute is holding a free, two-hour workshop for investors and Realtors on how to get started finding and buying foreclosure properties on Tuesday.
The workshop from 6:30 to 8:30 p.m. is at Long Beach Main Library, 101 Pacific Ave. Reservations required. To register, go to www.ForeclosureWorkshop.net or call 310-379-0101
Los Angeles Times
By Michael A. Hiltzik
October 27, 2008
In a harbinger of what may be a flood of similar disclosures, City National Bank in Beverly Hills said Sunday that it would receive a $395-million capital infusion from the U.S. Treasury as part of the government's $250-billion bailout program.
The bank said it had no "explicit or implicit understanding" with federal regulators about how it would use the money -- whether to increase lending in the community or acquire a specific bank.
But Russell Goldsmith, chief executive of the bank's parent company, City National Corp., said the investment "clearly enhances our financial capacity to make acquisitions and . . . to lend to a larger degree."
With $12.2 billion in deposits, City National is the largest bank based in Los Angeles County and second-largest independent bank in California.
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