Archive for October, 2009

Ruling in case against Broadcom’s ex-finance chief favors prosecution

Thursday, October 1st, 2009

A court says William J. Ruehle’s statements to company lawyers about an alleged option-backdating scheme are not protected by attorney-client privilege and can be admitted as evidence at his trial.


Federal prosecutors won a key ruling Wednesday in their option-backdating case against Broadcom Corp.’s former finance chief.



Jay Leno has fewer guests to choose from thanks to rival networks’ boycott

Thursday, October 1st, 2009

ABC and CBS are discouraging their stars from appearing on the new prime-time talk show to keep it from undercutting their costly dramas. NBC says it’s not concerned.


Despite a new prime-time perch and a larger audience, NBC comedian Jay Leno is fishing for guests from a substantially smaller pool of talent.



Tort reform is the healthcare debate’s frivolous sideshow

Thursday, October 1st, 2009

Any issue featuring so many interest groups cantering about on hobbyhorses is an issue where the truth goes to die. So let’s try a shot of reality.


Every circus needs a sideshow, which must be why every time the issue of rising medical costs gets debated, politicians start clamoring for “tort reform.”



Judge orders church to turn over property to Episcopal Diocese of Los Angeles

Thursday, October 1st, 2009

St. Luke’s Anglican Church in La Crescenta broke away from the Episcopal Church in 2006 in a dispute over biblical authority and interpretation, including consecration of an openly gay bishop.


A Los Angeles County Superior Court judge Wednesday ordered leaders of a former Episcopal church in La Crescenta to turn over church property by Oct. 12 to the Episcopal Diocese of Los Angeles, marking the latest wrinkle in a long-running legal dispute.



California timber firm to market its forests as weapon against global warming

Thursday, October 1st, 2009

Sierra Pacific’s announcement comes less than a week after the Schwarzenegger administration pushed through new rules allowing the company to sell carbon credits.


The state’s largest timber company Wednesday announced a groundbreaking agreement to begin marketing its vast forests as a weapon in the fight against global warming.



Hotel Bel-Air closes for renovations, laying off 250 union workers

Thursday, October 1st, 2009

The hotel has refused to commit to rehiring the employees, many of whom are immigrants, when work is done in 2011. Many are worried about losing affordable health coverage.


The Hotel Bel-Air closed quietly Wednesday, shutting for two years of renovations without agreeing to a severance package with its unionized employees.



Prosecutors win key ruling in case against Broadcom’s ex-finance chief

Thursday, October 1st, 2009

A court says William J. Ruehle’s statements to company lawyers about an alleged option-backdating scheme are not protected by attorney-client privilege and can be admitted as evidence at his trial.


Federal prosecutors won a key ruling Wednesday in their option-backdating case against Broadcom Corp.’s former finance chief.



Golden State Mutual Life seized by California regulators

Thursday, October 1st, 2009

The insurer, whose customers are mainly African American, is losing $200,000 a month and about to run out of funds completely, officials say. The state hopes to find a new firm to take over policies.


State insurance regulators have seized control of Golden State Mutual Life Insurance Co., a financially struggling company that has primarily served the African American community for the last 84 years.



In bipartisan vote, Senate protects funding for Boeing C-17 cargo planes

Thursday, October 1st, 2009

McCain vows to continue effort to strip $2.5-billion for 10 additional planes from the defense bill. Obama and Gates also say the extra C-17s are not needed.


The Senate on Wednesday shot down an effort to kill funding for Boeing C-17 military cargo planes that President Obama says are not needed, underscoring the turbulence the White House faces in trying to cut money for politically popular projects.



Green-tech companies draw biggest share of venture capital in third quarter

Thursday, October 1st, 2009

Green-technology firms attracted the largest share of venture capital in the third quarter, with global investments rising to $1.59 billion, according to a survey released Wednesday by Cleantech Group and Deloitte & Touche.