November 2007 Archives

The board of El Segundo-based Wyle elected CEO and president George Melton as chairman, the company said Friday. Melton replaces Gus Yiakas, who retired after 39 years with the company.

Wyle is a privately held firm that provides high-tech aerospace engineering, testing and research services to commercial, industrial and government customers. The company also provides life sciences services, special test systems and other technical support services to the aerospace, defense, nuclear power, communications and transportation industries.

“George’s leadership and substantial experience in this industry has helped to usher in a new era of growth and expedited the transformation of Wyle since our initial investment,” Edmund J. Feeley, a member of the Wyle board, said in a statement. “We believe the company can continue to leverage many growth opportunities and we look forward to George’s continued leadership.”

Toyota Motor Sales USA Inc. in Torrance said Friday it plans to raise prices on four of its 2008 model year cars. See list of manufacturer’s suggested retail prices (MSRP) below:

AOL uses Amazon Unbox for pay-to-download TV, movies

SEATTLE (AP) — AOL on Friday scrapped its year-old pay-for-download service in favor of Web retailer Amazon.com Inc.’s technology for selling movies and TV shows online. Financial terms of the deal were not available, but Amazon said it will share revenue with AOL.

SUB-PRIME SLIME: The story below details how adjustable-rate mortgage holders will reap higher credit rates for everything, and thereby worsen their financial prospects and health. That would be fine, except their collective risk hurts the general economy, which belongs to everyone. If only the mortgage mess would affect the sub-prime. The many must suffer for the few, but at least the few suffer worse than the many. . .

ASKING PRICE ACTRESSES: Just like a failing CEO with a golden parachute, today's Hollywood actresses can score big bucks despite box office flops. Better save those drama dollars for future Botox treatments. . .

LOS ANGELES (AP) -- Although her latest film, “Rendition,” was a flop, Reese Witherspoon is a moneymaker.

The 31-year-old Academy Award winner commands $15 million to $20 million a movie, placing her at the top of The Hollywood Reporter’s annual list of the highest-paid actresses.

WELL, NOT REALLY: The percentage of first-time buyers able to pay for a median-priced home in Los Angeles County remained about the same over the past three months, according to figures released today by the Los Angeles-based California Association of Realtors. City News Service has report below.

The Federal Express building in El Segundo was put on the market for a listing price of $10.5 million, or $208 a square foot.

The 50,433-square-foot industrial and office building is located at 645 S. Allied Way. The property includes freight forwarding, warehouse, and 9,820 square feet of office space on 2.26 acres near LAX. The property is adjacent to the Plaza El Segundo shopping center.

Marcus & Millichap Real Estate Investment Services has retained the exclusive listing for the property.

Ducommun Inc., the Carson-based aerospace subcontractor, said it won a contract worth about $60 million to make titanium erosion shields for main rotor blades of the Sikorsky UH-60 Black Hawk helicopters.

The company's Gardena-based Ducommun AeroStructures subsidiary will do the work, which is expected to last through 2012.

The contract was awarded by GKN Aerospace, which manufactures the sheath assembly for the helicopter's main rotor blades.

Active Interest Media, the El Segundo-based specialty-magazine publisher, said it plans to launch Feel Better magazine, a specialty publication for Pharmaca Integrative Pharmacy. The magazine will premiere in March.

Pharmaca has 18 locations in five Western and Southwestern states. The bi-monthly Feel Better magazine will be free to Pharmaca shoppers. The first printing will be for 80,000 copies, with a projected readership of 250,000, the El Segundo publisher said.

On Monday, Active Interest Media said it would produce magazines for Whole Foods Markets.

Motorcar Parts of America Inc., the Torrance-based seller of remanufactured vehicle alternators and starters, has been approved to list its stock on the Nasdaq Global Market.
Motorcar's stock has been trading on the over-the-counter market.
The company's common stock is expected to begin trading on Nasdaq at the market open on
December 3. MPAA willbe the trading symbol.
"This is an important achievement for us, and will increase our visibility in the market, improve
the liquidity of our stock and allow us to expand our shareholder base." said Selwyn Joffe, chairman, president and CEO, in a statement.

HOMEBUYER SQUEEZE: Californians face housing market doube whammy: High prices, fewer loans. Got lots of cash?

The cost of financing a home remains out of reach for many households in California in the wake of the Office of Federal Housing Enterprise Oversight (OFHEO) conforming loan limits for 2008, announced today, according to the Los Angeles-based California Association of Realtors.

COMPUTER CENTRAL
By James Derk

Every year I try to summarize all of the things I wish Santa would bring me this year. Let’s rush to the tree and see what’s there.

LIKE A TORNADO IN A TRAILER PARK: S&P says 3rd-quarter housing prices dropped by sharpest rate in index’s 21-year history. Story below.

By ELWIN GREEN
Pittsburgh Post-Gazette

Now that gasoline has topped $3 a gallon, are Americans cutting back by driving less?

Not much, it seems. And the reasons why are rather simple, experts say.

ANALYSIS: Another plunge on Wall Street, gold up, oil down, housing squeeezed, investors worried. . . Click below for a complete financial wrap-up and extended version of a story in tomorrow's Business section.

FINANCIAL FALLOUT: JPMorgan Chase & Co. will lay off 91 employees at its mortgage operations center in Ontario amid a downturn in the housing market and tighter lending standards.

Company mortgage division spokesman Tom Kelly said Monday that employees and government officials were
notified in October about the cuts, which will take effect before Dec. 31. Kelly said the layoffs in the company’s subprime mortgage staff come as fewer qualified home buyers seek loans.

Kelly said about 40 percent of the subprime mortgages the company originated a year ago would not be approved using the standards employed today. They include larger down payments, more
documentation and better credit.

NISSAN NUISANCES: Nissan Motor Co., the third-ranked Japanese automaker that once resided in the South Bay, is recalling Altima and Sentra cars over sensor problems.

Nissan is recalling 686,500 Altima and Sentra passenger cars to fix problems with a sensor that could lead to engine stalling. Nissan Motor Co. spokeswoman Jeannine Ginivan said Monday there have been no reports of crashes or injuries tied to the issue.

More than 650,000 of the recalled vehicles are in the United States, with the remainder in Mexico and Canada. The Japanese automaker said in a Nov. 16 letter to the National Highway Traffic Safety Administration that the recall affects Altima and Sentra vehicles from the 2002 and 2005-2006 model years equipped with a 2.5 liter engine.

Nissan said the crankshaft position sensor could overheat, causing an interruption in the sensor’s signal. Under the condition, the engine could stop running without warning while the car is being driven at low speeds. Dealers will reprogram the electronic control module to address the problem.

Nissan plans to begin notifying owners on Dec. 10. Owners can contact Nissan at 1-800-647-7261 with
questions about the recall.

WORK-SHOP: The busiest online shopping day could affect worker productivity. Story below.

STUPIDITY FALLOUT: Thanks to loose lenders and clueless homebuyers, the new wave of mortgage failures could create a nightmare economic scenario -- for everyone. Story below.

WINTER BLUES? Holiday sales figures do little to rally investors after Black Friday.

Currency declines, rising oil prices, market corrections, subprime mortgage meltdown. . . could the economy use a Secret Santa? Read below.

RING N' CLINK: Ralphs and Food 4 Less stores throughout Southern California are hosting the Salvation Army's Red Kettle campaign, with the traditional bell ringers we always hear during the Christmas season.

Funds raised through the campaign provide services in more than 5,000 communities nationwide. The campaign also helps provides toys for children, coats for the homeless, food for the hungry and many
other social services throughout the year. About 83 cents of every dollar are used to directly assist families in need.

Ralph's and Food 4 Less are divisions of The Kroger Co.

So, if you're out retailing and hoarding this weekend, don't just walk on by. You don't need your change.

Palos Verdes Estates-based Malaga Financial Corp. reports Increased earnings for the nine months ended Sept. 30, 2007 and results of tender offer.

Malaga Bank is a full service community bank on the Palos Verdes Peninsula that has served this affluent community for more than 22 years. Malaga Bank offers a range of loan and deposit products and services that compete directly with the larger financial institutions. Malaga Bank says it is the largest community bank in the South Bay area.

Everything you ever wanted to know about the bank's financials and future plans is detailed in its press release below.

SWIMMING WITH ALGAE: Not everything that appears green can be considered environmentally friendly. Chances are that homeowners losing their abodes to foreclosure won't be able to afford the pool boy anymore either. So, as California leads the way in mass home foreclosures, so the backyard pools turn natural, festering into little green dumps. . .

Story by The Associated Press below. . .

SEATTLE (AP)— Boeing Co. said Wednesday it has received 1,047 commercial airplane orders this year, already beating its 2006 record-setting total of 1,044 orders with more than a month to go.
Boeing said it has taken orders for 580 of the popular 737 as of Nov. 20, and for 290 of the new midsize 787, whose delivery has been delayed until November or December 2008 because of assembly problems. This is the third consecutive year Boeing’s orders have topped 1,000.
“That’s pretty astounding,” said Boeing spokesman Jim Condelles. He credited a surge of orders from airlines in Asia, India and Latin America, and the continued rebound of the air travel industry after the Sept. 11, 2001,
terrorist attacks. Boeing’s top competitor, Airbus SAS, had logged 1,021 commercial jet orders as of the end of October, the most recent data available on the company’s Web site.

ANY TOFU ENGINES YET? The average price of a gallon of unleaded regular gasoline in Los Angeles County rose for the 12th consecutive week, but by a lower rate than recent weeks, the Automobile Club of Southern California reported Wednesday.

A 2.3-cent increase since Friday put the average price of a gallon of unleaded regular in the Los Angeles-Long BeachZZPT area to $3.402, 28 cents more than last month, 91 cents more than at this time last year and within 8.5 cents of the record high of $3.487 registered on May 9.

By Kelly Yamanouchi
The Denver Post

Some holiday shoppers with cell phones in hand will be able to check their bank-account balances through new mobile banking systems as they contemplate big-ticket purchases this year.
Mobile banking allows certain bank and cellular customers to check their account balances and transfer funds via Internet-enabled mobile phones. The systems rely on an Internet application specially configured for mobile phones that allows transactions to be made without making a call or using a computer.
FirstBank, Wells Fargo, Wachovia and Citibank are among the banks that offer mobile banking. FirstBank launched its mobile banking service for AT&T phone subscribers this month and expects to gain access for Verizon subscribers next month.
Mobile banking has been relatively slow to catch on, with some consumers concerned about security and some systems requiring registration. FirstBank customers register for the mobile system, which encrypts data stored on the phone and uses a special PIN.
“We’re picking up early adopters,” said Rob Chaney, executive vice president at FirstBank.

El Segundo-based Computer Sciences Corp. said today that it named Mike Shove, 50, as president of the firm's Asia Group, effective Saturday.

Shove replaces George Bell, who is retiring. Shove currently serves as president of the company’s Australia Group.

Nick Wilkinson, 45, will replace Shove in Australia. Wilkinson currently serves as vice president of Chemicals, Energy and Natural Resources for CSC’s Global Outsourcing Services organization.

Shove and Wilinson will report to Michael W. Laphen, CSC's chairman, president and chief executive.

BITCHY MEDIA QUEEN: Paparazzi catfights are always entertaining. Bring out the violins for those hard-working photographic vultures. . .

By City News Service
A judge today dismissed blogger Perez Hilton’s unfair business practices suit against the celebrity photo agency X17, ruling that Hilton has no legal standing to sue X17 over its alleged mistreatment of its photographers.

Hilton, whose real name is Mario Lavandeira, owns the celebrity Web site PerezHilton.com. He sued X17 on June 17, alleging it was violating wage and labor laws by making its photographers work long hours with low pay.

DOUBLE DECKER: The Airbus A380 -- the world’s largest airliner -- is scheduled to revisit the U.S. West Coast when it lands at Los Angeles International Airport (LAX) at 11:45 a.m. Pacific Time on Wednesday, Nov. 28, 2007. The visit is being conducted by Airbus, Qantas Airways and Los Angeles World Airports to test airport function and compatibility as Qantas prepares its A380 passenger service at LAX, which is scheduled to begin Fall 2008.

After landing on Runway 25 Left on the south side of LAX, the aircraft will taxi to the Flight Path Learning Center in the LAX Imperial Terminal at 6661 West Imperial Highway. No ceremony is scheduled for the arrival.

Starting today, Toyota will air its Lexus "December to Remember" TV spots for the eighth straightyear. The holiday-time catchy ads will again feature new Lexus vehicles in the driveway with a big red bow on top.

Nearly 10% of Lexus vehicles sold during the holiday season are gifts.

But this year, Toyota's ads hope to encourage the "self-giver" who wants to treat himself or herself. The ads include three broadcast spots, two print ads and three radio spots.

HOLIDAY FOOD PRICES UP 4.4 PERCENT: By Marilyn Geewax, Cox News Service, WASHINGTON -- Time and again this year, economists have assured consumers that the “core” inflation rate is tame, running at roughly 2 percent this year. President Bush agreed in September, saying, “inflation is low.”

But millions of Americans now shopping for holiday meals will pay significantly more than in 2006. The government says food prices are up 4.4 percent compared with last year. That’s about double the core rate, which excludes volatile food and energy prices.

SLOWDOWN: WASHINGTON (AP)— The Federal Reserve reported Tuesday that it expects slower economic growth and a slight bump up in unemployment next year due to the housing slump and a credit crunch. The board also said, however, that it thinks inflation will remain moderate. The fresh assessment of the country’s future economic performance was issued by the Fed in the first of its quarterly reports to the nation.

Northrop Grumman Corp. named Edward T. Alexander corporate lead executive for company business with the U.S. Air Force Space and Missile Systems Center, based in El Segundo.

In addition to serving as Northrop's principal point of contact for all the company's SMC business, Alexander will "promote and coordinate the activities of all Northrop Grumman sectors supporting SMC business and community interests," the company said.

"The SMC is the Air Force's primary space acquisition center," said Bob Helm, Northrop's corporate vice president of government relations. "Ed's extensive experience with a broad range of Air Force space programs will help him effectively represent the combined capabilities of Northrop Grumman to this very important customer."

Alexander joined Northrop Grumman in 2003 after a 24-year career in the Air Force, mostly in acquisition of space and missile defense systems.

JAMES DERK: His column returns today, posted on Biz Waves each Tuesday morning.

Read an article on how Toyota's quest to be the world's No. 1 car maker has hit a few icy patches.

Check out this interesting story on when Honda's fuel cell vehicles will start to spread.

The Advanced EHF system, being developed by Northrop Grumman's Redondo Beach-based Space Technology sector, with Lockheed Martin as the prime, completed a major milestone, the Air Force said today.

With the first satellite in the military communications constellation to be launched next year, Northrop and Lockheed were able to demonstrate the ability to communicate using the satellite system's hardware. The test took seven weeks to complete.

"The successful completion of this test is a huge step forward for the Protected MILSATCOM Product Line and the Advanced EHF system," said Col William J. Harding, commander of the wing's Protected Satellite Communications Group.

Advanced EHF will give the military much greater communications speed and flexibility than it possesses from current constellations.

Torrance-based Toyota Motor Sales USA said that a recent 2,300 mile trek in a Toyota Fuel Cell Hybrid Vehicle (FCHV) from Fairbanks, Alaska, to Vancouver, British Columbia, along the Alaska-Canadian highway confirmed teh vehicle's substantial progress in reliability and durability, cold-weather operation and extended range.

Bob Carter, Toyota Division group vice president and general manager, said: "Beyond the single-tank range capability, this new system was developed to deal with two major challenges to the refinement of fuel-cell power-trains. That is, starting and operating in cold temperatures and standing up to the vibration and harshness of rough road conditions ... over a long distance ... over a long time."

The Automobile Club of Southern California says this morning that the average price of
a gallon of unleaded regular gasoline rose in L-A County for the 11th straight week
this week ... but at a lower rate than the week before. It now stands at 3 dollars and
38 cents. That’s 8-point-2 cents more than last week ... 36 cents more than last month
... 92 cents more than at this time last year ... and only within 11 cents of the
record high of 3 dollars and 49 cents ... which was set back on May 9th. The triple-A
notes that November price increases are unusual and notes that high gasoline prices
around the holidays could put a dent in shopping and travel budgets.

CLEAN, GREEN CARS:

By ALLISON BRUCE
Scripps Howard News Service

WESTLAKE VILLAGE — The curved roof of the Toyota Prius in front of the Solar Electrical Systems office is covered with 146 dark, 4-inch-square solar cells.
When Greg Johanson first had the idea to give the hybrid car a bit of solar electrical energy, he didn’t know what a challenge that curved roof would present.
Johanson’s company had to embed the solar cells into fiberglass and custom mold it.
Tapping the roof, Johanson called the Prius the “worst vehicle” for testing his concept.
“I have a habit of doing things backwards,” he said. “If we could make the worst vehicle work, the easy vehicle should be easy.”
The company soon will be producing solar panels for Toyota’s Rav4 EV and Highlander, two vehicles with very flat roofs.

AUTOMOTIVE RESEARCH: Honda today awarded $50,000 advanced research grants to professors at seven U.S. universities at the 10th anniversary of the Honda Initiation Grant program and Technical Horizon Symposium held at the Computer History Museum in Mountain View.

CRACKDOWN? The cratering sub-prime mortgage industry and declining housing market have spurred calls for restrictive and preventative legislation. Now the politicians in Washington are arguing over various measures, and whether they will help clean up the mess or make it worse. Read story below.

HOUSING REALITY CHECK: Hardly a day passes without a prediction or observation from someone in the financial, economic or real estate quarters of the state's worsening housing market. What does it indicate when the president of a banking colussus dares to utter the dreaded "D-word?" Read story below.

Torrance-based AcuNetx, a maker of sobriety recording equipment for law enforcement agencies, reported Thursday that its revenues and earnings advanced in the third quarter.

AcuNetx, Inc. (OTCBB:ANTX) credited its product placement efforts for boosting sales and profits in the quarter ending Sept. 30.

Among the facts highlighted by its earnings report:

American Honda Motor Co. is based in Torrance. . . .

WASHINGTON (AP)— The number of new cars considered the safest by the insurance industry nearly tripled in the past year, helped by automakers’ push to make certain safety equipment more widely available.

Ford Motor Co. and Honda Motor Co. had the most vehicles on the Insurance Institute for Highway Safety’s annual list of the safest cars for the 2008 model year.

Shares of The DIRECTV Group will be traded on the technology-dominated Nasdaq Stock Market starting Dec. 3, the El Segundo-based company said Thursday. The nation's biggest satellite TV service will switch from the New York Stock Exchnage, but will keep its ticker symbol, DTV.

"Our switch to Nasdaq was driven by our desire to achieve greater value for our investors," Jon Rubin, DirecTV's senior vice president of financial planning and investor relations, said in a statement. "We believe that Nasdaq's vision for leadership coupled with its market structure and vast product offerings will allow for improved service for us and our investors while simultaneously reducing our costs."

Toyota Motor Corp., second in U.S. auto sales this year, expects an industrywide slowdown in American demand to continue into 2008 because of a housing slump and rising gasoline prices.
Read the full story.

The board of directors of Northrop Grumman Corp. (NYSE: NOC) today declared a quarterly dividend of $0.37 per share on Northrop Grumman common stock, payable Dec. 8 to shareholders of record as of the close of business Nov. 26.

The board also declared a dividend of $1.75 per share on the company’s Series B convertible preferred stock, payable Jan. 15, 2008, to shareholders of record as of the close of business Jan. 2, 2008. Northrop
Grumman Corp. is a $30 billion global defense and technology company whose 120,000 employees provide innovative systems, products, and solutions in information and services, electronics, aerospace and shipbuilding to government and commercial customers worldwide.

In the South Bay, Northrop has its Space Technology sector based in Redondo Beach, and its Integrated Systems sector based in El Segundo.

Tough luck for Louis Vuitton as court finds humor in ‘Chewy Vuiton’ dog toys

RICHMOND, Va. (AP) — Luxury handbag maker Louis Vuitton claimed a Las Vegas company infringed on its trademark with furry “Chewy Vuiton” dog toys, but a federal appeals court refused to bite.

A three-judge panel of the 4th U.S. Circuit Court of Appeals affirmed a lower court’s ruling that Haute
Diggity Dog’s toy was a successful parody of the products from the French fashion company.

On Thursday night (11/15), the city of Carson will host a community forum to focus on avoiding foreclosure and homeowner financing programs.
The forum, titled "To Own and Keep Your Home," is free and open to the public. The event is from 6-8 p.m. at the Carson Community Center, at 3 Civic Plaza Drive.
To reserve your seat or to get more information, call Debra Scott at the City of Carson's Housing Division at (310) 233-4800.

This month marks the 25th anniversary of the first Japanese auto plant to build cars in the United States. The Honda plant, in Marysville, Ohio, started making Honda Accord sedans in 1982.
The local angle is that Honda's North American headquarters are in Torrance.
Check out cool historical photos.
You can also check out some neat video clips.

Honda said today it has started using the Home Energy Station IV at its Honda R&D Americas, Inc. facility in
Torrance. This fourth-generation experimental unit provides fuel for a hydrogen-powered fuel cell vehicle, and heat and electricity for a home.

Computer columnist James Derk does not have a column this week. His next column will run here on Tuesday.

TIME TO EAT CROW: Now who all said something about a soft landing, no bubble-trouble, it's a good time to buy? Who said housing prices would stay up? The nice thing about numbers is they don't lie. Home sales and median prices are falling like a C-level acting career. The AP reports below. . .

COMPUTER CENTRAL COLUMN: James Derk's weekly computer column that we post here on Tuesdays did not get sent by the Scripps Howard News Service today. We will post it this week as soon as we get it.

Also, continuing server problems have made further blog posts difficult this afternoon. These snafus should be corrected by Wednesday morning.

GAS GRUMBLES: Gas prices increased rapidly over the past month throughout Southern California, jumping by an average of a penny a day for the last four weeks, according to the Automobile Club of Southern California monthly Fuel Gauge Report.

The Southern California November average price for regular self-serve gasoline is $3.355, up nearly 30 cents from Oct. 16 and 86 cents higher than the same time last year.

“With oil prices at $90 to $100 a barrel, motorists around the country are feeling the effects, and most states
have average prices of at least $3 a gallon,” Auto Club spokeswoman Carol Thorp said. “This is traditionally alower-demand time of year for gasoline, and it remains to be seen whether the usual drop in demand will materialize and begin pushing prices back down soon.”

California has now surpassed Hawaii, where regular unleaded is averaging $3.322 a gallon, as the most expensive state for gasoline in the U.S. The Golden State’s average price for November is $3.385, up
32 cents from $3.069 in October. The state’s lowest average price is in Glendora, where regular sells for $3.239. Tahoe City has the state’s highest average at $3.599.

Nationally, the average price is $3.105, up 35 cents from $2.759 in October. New Jersey has the lowest average price, at $2.905.

PROPERTY VALUES: Report forecasts $223 billion decline in property values and lost taxes as foreclosures surge

On Thursday, the Los Angeles Air Force Base will unveil and dedicate a 9-foot bronze statue of Gen. Bernard Schriever, considered the father of the U.S. Air Force's space and missile program and the architect of the service's ballistic missile and military space program.
Crafted by local San Pedro artist, Eugene Daub, the statue was commissioned by the Air Force Association's Schriever Chapter 147.

Northrop Grumman Corp.'s El Segundo-based Integrated Systems sector announced the appointments of three executives, two of them in El Segundo.

Gerard A. "Duke" Dufresne was named sector vice president for the western region. Charles Wands was
named sector vice president and chief financial officer. Both men will be based in El Segundo.

Thomas E. Vice was appointed sector vice president for the eastern region.
The appointments are effective Jan. 1.

PARKING TIP: The South Bay's largest landmark hotel outside of the LAX corridor -- the Torrance Marriott -- now charges some hefty fees at its parking deck after years of free parking. The Marriott hosts many seminars, trade shows and conferences throughout the year -- many of interest to South Bay residents, such as the annual South Bay Economic Forecast Conference each October.

The new parking rates, copied from the hotel's Web site, are:

On-site parking, fee: 10 USD hourly, 10 USD daily
Valet parking, fee: 15 USD daily
Automated Self Parking System begins September 6, 2007

Hotel visitors Tuesday morning reported paying $6 to park. So, visitors and guests beware: There is plenty of free parking in surrounding lots within walking distance, such as the vast Del Amo Mall lots, and nearby lots at Border's and Sport Mart along Torrance Boulevard.

Last winter, the Marriott finished up an extensive interior renovation and upgrade that boosted the hotel's amenities and profile. Now it has the parking fees to match the new aura.

El Segundo-based Computer Sciences Corp. said Monday it has been named one of the top 25 enterprise companies serving the financial services industry worldwide.

The annual ranking is compiled by American Banker, a daily newspaper for the banking and financial services industry, and Financial Insights, an IDC company providing strategic business and technology advice for the banking and financial services industry. This is the fourth consecutive year CSC has been named a leading provider of information technology (IT) services to this industry.

To be selected as one of the top 25, companies must be global technology firms that provide services or market products across multiple industries, but have significant reported revenues in financial services. Qualifying companies are categorized and evaluated by fiscal year-end revenues and percentage of
revenues from sales to financial services industry clients.

CSC, which has about 87,000 employees, provides innovative solutions for customers worldwide by applying leading technologies and CSC's own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. CSC reported revenue of $14.9 billion for the 12 months ended March 30, 2007.

For more information, visit the company'sWeb site .

WHAT WILL KATIE SAY? The drama of the entertainment industry writers' strike could be making more news by withholding the words from CBS News. Unionized news writers at the third-place network news organization are considering their own strike, possibly affecting 500 employees. . .

LEFTOVER DISHES: With more for sale signs, defaults and foreclosures, Echostar has seen a slowdown in subscriptions and payments.

Echostar, the No. 2 satellite TV service provider and primary competitor to El Segundo-based DirecTV, said Monday the troubled housing market has challenged its growth and profit picture. Story below. . .

SpaceX, the Hawthorne-based developer of low-cost rockets, has achieved another milestone by completing development of its Merlin 1C next generation liquid fueled rocket booster engine.
It is among the highest performing gas generator cycle kerosene engines ever built, exceeding the Boeing Delta II main engine, the Lockheed Atlas II main engine, and on par with the Saturn V F-1 engine.
The Merlin 1C will power SpaceX's Falcon 1 and larger Falcon 9 rockets.
To learn more about SpaceX, visit the company's Web site.

SOARING TOWARD THE SKIES: Boeing and Airbus have been competing for years to gain the upper-hand in new jet markets; some quarters Boeing gets more orders; other quarters, Airbus moves ahead. The battlefront emerging between the world's two largest planemakers now centers on the jumbo market: the Airbus A-380 double-decker and A-350 wide-body models versus Boeing's 747 and 777 widebodies. A report on the Dubai Air Show, the third largest in the world, demonstrates the latest skirmish. The annual air show can attract lucrative jet orders from wealthy Middle East nations and investors. . .

TOKYO (AP) — Walt Disney Co. and Softbank Corp. said Monday they would jointly offer mobile phone service in Japan starting next spring as “Disney Mobile.” Softbank, Japan’s No. 3 carrier, and Walt Disney's
Japan unit said in a joint news release they would cooperate on new handsets, mobile content, marketing and services.

“Disney brings its strong brand and legacy of developing great entertainment with broad appeal to our mutual venture,” said Masayoshi Son, Softbank’s chairman and CEO. The company said details would be released later. Burbank-based Disney is planning to lease Softbank’s mobile network and use Softbank’s stores to market phones and services, The Wall Street Journal reported Monday.

All Daily Breeze blogs were down on Friday because of a snafu in our servers; hence the sparse postings. We'll be getting back to normal on Monday. . .

The Northrop Grumman-built Defense Support Satellite was launched into orbit on Saturday. The satellite, the 23rd and final in the DSP family will monitor ballistic missile and space launches as well as nuclear explosions. To read more about the DSP launch, go to Saturday's story in the Daily Breeze or read Northrop's release.

DRAINING WALLETS: AAA released the lastest Los Angeles County gas prices today. This story just writes itself. Story below. . .

Aura Systems Inc., the El Segundo-based maker of mobile power generators, said its product came in handy during the devastating wildfires that recently scorched Southern California.
The American Red Cross has a fleet of emergency communications response vehicles, known as ECRVs, each fitted with an 8 kW AuraGen power system. The product provides power to electricity-dependent devices such as radios, telephones and Internet communications systems. The device is especially useful when the conventional power infrastructure is disrupted -- such as during the recent wildfires.
The Red Cross informed Aura Systems that AuraGen-equipped ECRVs responded to the wildfires to provide needed communications during the disaster.
In an Aura Systems release, Tom Worthington, an ECRV operator and Red Cross volunteer, said, "ECRV
4709 was one of five ECRVs to respond to the California wildfires. We provided
emergency communications for Red Cross including Internet and telephone services at
Dulzura, Calif., immediately following the fire."

When the South Bay gets its first Fresh & Easy Neighborhood Market possibly some time next year in Manhattan Beach, shoppers can expect a mix between Trader Joe's-style fresh and organic foods, and 7-Eleven-style checkout speed.
Six Fresh & Easy stores opened around Southern California today. Judging from the Glassell Park store, the checkout system may be a big draw for shoppers. There are more than a dozen checkout stations that allow for self-chckout, assisted checkout or traditional cashier checkout. With so many checkout stations and the option to do it yourself, shoppers may be in and out faster than at some convenince stores.
Read today's Fresh & Easy story.

They’re not on screen or on strike, but somewhere way behind the scenes in Hollywood, legions of workers are off the job as writers strike against studios. A growing number of caterers, hairdressers, set builders, crew members and people who rent everything from trucks to portable dressing rooms have been idled in this industry town, as filming shuts down and studios yank funding from production companies.
Read more.

The Air Force plans to launch the 23rd and final Defense Support Program satellite on Saturday from Cape Canaveral.
The launch will occur during a window from 5:39 p.m. and 8 p.m. Saturday. It will take 6 hours and 20 minutes for teh satellite to separate from teh launch vehicle.
Built by Northrop Grumman's Redondo Beach-based Space Technology sector, the DSP constellation was a Cold War work horse that detected nuclear detonations and ballistic missiles.
Watch for the story on Saturday in the Daly Breeze.

INVESTOR CONCERNS: Fidelity investments are doing fine and get good credit ratings, but if you're an investor, you might want to take note of some emerging issues about the mutual fund company.

There is at least one place that can make Southern California housing, especially in the coastal regions of the South Bay, look comparatively cheap. Find out below.

TOYOTA VS. GM: More proof of superior quality offered by Japanese car-markers -- Toyota makes money in the third quarter; GM loses $39 billion. Toyota's solid sales and profit report below. . .

BANSHEE WAILS: XM Satellite Radio -- with 8.5 million listeners to date -- plans to launch a Led Zeppelin channel tomorrow, exclusively featuring music and content associated with one of rock's most influential mega-bands. The channel is XM 59. The satellite radio programmer offers details below.

CHANNELING PROFITS: Satellite broadcaster DirecTV Group Inc. of El Segundo said Wednesday its third-quarter earnings slipped on higher costs, but revenue rose 18 percent from more customers and demand for high-definition and digital video recorder services.

SAN FRANCISCO (AP) — Lost drivers soon will be able to Google for help at the pump.

As part of a partnership to be announced Wednesday, the online search leader will dispense driving directions at thousands of gasoline pumps nationwide beginning early next month.

GREENIVANS: While men generally are more likely to be car buffs, the fastest growing segment of auto buyers are actually women and mothers. So a new Web site now helps women and mothers choose the best hybrid vehicles for them and their families. The site offers reviews and ratings. For many families, especially in greater Los Angeles, finding a car that saves on gas money, offers plenty of room for the kids and their gear, and minimizes pollution is the ideal combination. To learn more about his consumer resource, click below.

Boeing's El Segundo-based Satellite Development Center and its "TEAM TSAT" partners demonstrated the "one-button" start-up feature of its U.S. ground station, an important part of the company's bid to win the Air Force contract for the Transformational Satellite Communications System, known as TSAT.

The Boeing-led team is competing against a Lockheed Martin led team for the Air Force satellite system that is expected to dramatically advance military communications. Northrop Grumman Corp.'s Space Technology sector in Redondo Beach is Lockheed's main subcontractor in the competition.

COMPUTER ADVICE: As promised, we now post James Derk's computer column each Tuesday on Biz Waves. His column previously ran for several years in Thursday's Business section. Derk is a former newspaper reporter turned computer geek who now owns and runs a computer repair service in Evansville, Indiana. In addition to handling a household full of adopted children, Derk deals daily with his clients' computer troubles and disasters, and offers genuine advice with the interests of users and consumers foremost in mind. You can enjoy the column from an honest, sincere, down-to-earth computer techie from the Heartland below:

Torrance-based Toyota Motor Sales USA said Tuesday that it promoted Jim Lentz, 52, executive vice president, to president.

The Torrance-based operation is the car company's sales, marketing, distribution and customer service arm for Toyota, Lexus and Scion vehicles in the United States.

Ian V. Ziskin, Northrop Grumman Corp.'s chief human resources and administrative
officer, was been inducted as a Fellow of the National Academy of Human
Resources, the group's highest honor for chief human resource
officers and other lifetime contributors to the human resource
profession.
NAHR Fellows are recognized by their peers as leaders in
the profession, have meritorious national reputations for shaping human
resource thinking and policy through scholarship and international
influence, and have demonstrated an unfailing commitment to success.
"This top honor is a tribute to Ian's leadership and his
success in his professional community, and we're proud of his
accomplishment," said Ronald D. Sugar, Northrop's chairman and CEO.

BREAKING: The U.S. House of Representatives likely will vote Tuesday on a bill “H.R. 3915” to ban the brokers yield spread that could put many mortgage brokers out of business and raise the costs on a mortgage for millions of American homebuyers.

One local mortgage company owner who is aggressively raising awareness on this bill is Cezar Mansour, the owner and founder of Beach Lending Inc. in Redondo Beach. The Daily Breeze profiled Mansour and his business partner, Rick Izquieta, in its May 21 Business Monday edition. Mansour is an expert on mortgage matters and has an extensive network of South Bay contacts and clients.

“My company has helped hundreds of clients, meet and achieve their financial goals, and they have only received better rates or costs due to the yield spread," Mansour said recently in an e-mail. "I offer better rates than the banks, and from the same banks that were quoting a higher rate or fee to my clients, because of the yield spread my clients have a choice and a savings that will not be offered by banks and other lending institutions."

To help homebuyers and readers better understand the issues on "H.R. 3915," Mansour has provided the following explanation and analysis in his own words below. Readers with other points of view or additional explanations may post/respond to this blog item.

Torrance-based Toyota Motor Sales USA will debut its first plug-in hybrid electric vehicle prototypes in North America.
Toyota will hand over the vehicles to two California universities during an event Friday at the car company's Torrance campus.
The vehicles, modified Priuses, will be given to officials from the Advanced Power and Energy Program at the University of California, Irvine, and the Institute of Transportation Studies at the University of California, Berkeley.
The cars are part of Toyota's sustainable mobility development program with the two UC campuses.

ATTITUDES: Where's the line between optimism and overconfidence when investing your money? Knowing and practicing the difference could be the key to good financial health.

Kermit the Frog may say it's not easy being green, but a recent list of greenward companies may set an example in the business world. As green fever changes the political landscape, many businesses are scurrying toward greener pastures. Juice Energy Inc., a New York energy company that focuses on renewables, has ranked the top 10 businesses nationwide are shifting to greener approaches.

A survey by the Retail Industry Leaders Association shows that 66 percent of retailers have already begun the transition to green, according to Juice.

The Juice staff of environmental and energy experts identified these 10 frontrunners. Some names are popular with Californians, while two others lower on the list often get vilified by activists. The complete list is below:

ONLINE MUSIC: Nokia launches its online music store as major record labels push the company to avoid copyright infringements on its file-sharing site. Story below.

GRAND DESIGNS: The architectural firm of Rossetti said Friday it has received an American Institute of Architects California Council (AIACC) Urban Design award for the Pavilions of Troy. One of the largest redevelopment projects in the state of Michigan, the $200 million plus project will transform a major traffic-dominated corridor to a walkable, pedestrian-friendly mixed-use urban center in the city of Troy.

The award for Urban Design, which was one of two given this year in its class, was presented to Carl F. Meyer, FAIA, by the AIACC at the annual Monterey Design Conference Oct. 19. The Rossetti architectural team helped to create a landscaped community town square on a 43-acre site that once housed K-Mart’s corporate headquarters. The team infuses a passion for the new urbanism with a pragmatic approach to creating compact, mixed-use neighborhoods.

Rossetti is an international firm with offices in El Segundo, Newport Beach, Detroit, Denver and Shanghai. Carl Meyer is a Principal of Rossetti’s Los Angeles office and an adjunct professor at the University of Southern California where he teaches in the Masters of Real Estate Development program.

KB Home, the Los Angeles-based homebuilder, said Friday that the head of Occidental Petroleum Corp.
resigned from KB Home’s board after a 15-year tenure. Ray Irani’s resignation was effective Thursday, according to KB Home.
Irani, 72, is chairman, president and CEO of Westwood-based Occidental Petroleum. During Irani’s tenure on the KB Home board, the company grew from a regional builder with 11 operating divisions in the western U.S. to a national builder operating 27 divisions from coast to coast.
“I leave the KB Home Board confident that the company is well positioned, both strategically and financially, to emerge strongly from the current housing market slowdown,” Irani said in a statement.
--- City News Service

Space Exploration Technologies Corp., the El Segundo developer of low-cost rockets, held a ground breaking ceremony today at Cape Canveral Air Force Station's Space Launch Complex 40.
The company, better known as SpaceX, will use the facility to launch its new Falcon 9 rocket. Operations will begin in late 2008.
SpaceX said it will upgrade the facility to "transform the site into a state of the art facility." SpaceX plans to use that site for commercial satellite launches, supply missions to the International Space Station and eventually sending crew members to the space station and future orbiting destinations.
“Initiating activities at the Cape in Florida is a major milestone in our mission to decrease the cost of reliable access to space,” said Elon Musk, founder and CEO of SpaceX, at the ceremony.
To read more, visit SpaceX.

PREDICTABLE: Gas prices throughout Southern California rise for the ninth straight week. We're all used to it. More pennies in the tank. . .

Los Angeles - Long Beach $ 3.160 + 3.7 cents; $ 3.487 record on (5/9/2007)

WHY BIZ WAVES?: Turn to Biz Waves to get all the business news that no longer fits onto a printed Business section. We'll post all kinds of goodies, leftovers, tidbits and stories.

Chevron Corp.'s third-quarter profit plunged even further than analysts feared, driven by the second largest U.S. oil company's inability to recover its higher refining costs at the gasoline pump.
The San Ramon-based company, which has a refinery in El Segundo, said Friday that it earned $3.72 billion, or $1.75 per share, for the three months ended in September. That represented a 26 percent decline from net income of $5.02 billion, or $2.29 per share, at the same time last year.
Analysts were bracing for a lower profit, but the erosion was worse than their average earnings esteimate of $2.07 per share, based on a poll by Thompson Financial.
Revenue growth also was lackluster druing the quarter, edging up just 2 percent to $55.2 billion.
Read the AP article.

PORN RUSE PLAGUES MAC USERS: Surfing porn on a Mac computer can invite unwanted advances to finances. What may appear salacious, can turn malicious. . .

GO ZOOM: Record October sales of the turbocharged Acura RDX crossover SUV and strong Acura MDX luxury SUV totals pushed Acura light-truck sales to a fifteenth consecutive record breaking month, Torrance-based American Honda Motor Co. reported Thursday.

GOLDEN OPPORTUNITY? Not since the hyper-inflationary misery index days of 1980, has gold seen such stratospheric levels above $800 per ounce. So have goldless investors missed the boat? Do gold investments have potential for future gains? Should you still buy some to round out your investment porfolio?

Here's a Q&A on what's happening with gold. . .

Throw down your stick, pull off your gloves and get ready for some action!
DirecTV subrscribers finally can watch wall-to-wall hockey.
El Segundo-based DirecTV Group, the nation's biggest satellite television provider, said Thursday that it launched NHL Network, a 24-hour hocky channel.
NHL Network will broadcast 50 live regular-season games this season in high definition. That's in addition to DirecTV's daily live show, NHL on the Fly, classic games, documentaries, instructional shows, highlights and more.

El Segundo-based DaVita Inc., the nation's biggest owner of dialysis clinics, said Thursday that chief financial officer Mark Harrison stepped down effective Nov. 30.
Jim Hilger, the firm's vice president and controller, will become acting CFO in addition to continuing in his present job, the company said.
In a DaVita statement, the outgoing Harrison said: "I am choosing to spend more time with my family. I have greatly enjoyed my time with DaVita and I will continue to support the organization as an alumnus of the 'DaVita Village'."
DaVita made the personnel announcement the same day it released its results for the third quarter.
Net income for the quarter ended Sept. 30 was $94,455,000, or 88 cents a share, down slightly from the same period a year ago at $94,856,000, or 90 cents a share.
Net operating revenue was up a bit to $1.3 billion from $1.2 billion a year ago.

BUBBLE TROUBLE: The latest foreclosure numbers out today for the third quarter show California the clear leader in foreclosure activity among the 50 states. Particurlarly noteworthy is an analyst's comment that buyers may nevertheless stay on the sidelines waiting for better deals, despite increasing foreclosure activity throughout 2008 as more adjustable rate subprime mortgages reset to higher payments.

Complete story in tomorrow's Business section on page B-2. Key excerpts from the Associated Press available now below:

Wednesday at the South Bay Economic Forecast Conference, futurist Kenneth Dozier bemoaned American schools' declining emphasis on music, which develops math skills and creativity.
"Creativity is the only sustainable edvantage and what are we doing? Our music programs? Gone," said Dozier, a former rock musician and entrepreneur.
Speaking to about 200 attendees at the Torrance Marriott, Dozier suggested that many PCs can be replaced with super computers to enhance the nation's productivity and children's educational opportunities. He said that kids are much more technology savvy than adults and therefore should have greater opportunities to develop that skill in creative ways.
Joe Aro, who heads the South Bay Economic Development Parnership, which organized the event, asked why school computer labs are not opened in evenings and on weekends.

INNOVATION: The first Japanese auto plant to build a car in America — the Honda plant in Marysville, Ohio — turns 25 today. It marks a major milestone for Honda’s presence in the U.S. auto industry. The plant has been building one of America's most popular cars -- the Honda Accord -- since 1982.

A summarized account from American Honda Motor Co. in Torrance follows below:

From the Associated Press: Toyota Motor Corp. reported Thursday it sold 197,592 vehicles in the U.S. last month. Its car sales rose 2.7 percent and its truck sales were up 6.9 percent.
"Showroom traffic was strongest from the Midwest through the Gulf states,” Jim Lentz, Toyota's top U.S. sales official, said in a statement. “In Southern California, wildfires crimped a key market already impacted by the housing downturn.”
Toyota Motor Sales U.S.A. is based in Torrance. More updates later.

At Wednesday's South Bay Economic Forecast Conference in Torrance, economist Jack Kyser said that the recent Southern California fires that destroyed 2,000 homes would give the region's economy a boost.
"You're going to have money coming in," Kyser said of the rebuilding efforts that follow such disasters. "It will be good for San Diego, but the rest of Southern California will get a little bit of a boost."
Kyser, chief economist of the Los Angeles County Economic Development Corp., said he was not sure how much damage the fire caused to business and infrastructure.
One downside of the fires, aside from the deaths and toll on people's lives, is the perception the rest of the nation and world has of California, Kyser said. While the fire engulfed pockets of Southern California, people who don't know the state's geography may assume that the whole region was toasted by the flames, Kyser explained.
That perception is what led San Diego Mayor Jerry Sanders to announce: "We want the message to go out across the world: San Diego is open for business."