la jolla: San Diego Union-Tribune Set to Make a Profit - 08/23/09 06:59 PM
After making two rounds of cutbacks in May and last week, the San Diego Union-Tribune in reporting an expected profit of $5 million. Platinum Equity acquired the paper from the Copley family in May, and immediately slashed 192 jobs, laying off 112 more last week. The company says it’s finished making cuts.
The paper’s profit has dropped significantly in the last few years from $68 million in 2006 down to $38 million in 2007, then down to only a million dollars last year. Before Platinum took over, the paper was on a pace to lose $7 million. The newspaper’s revenue … (0 comments)

la jolla: La Jolla Based Company Pico Suffers Loss - 08/11/09 06:33 PM
PICO Suffers Second Quarter Loss Pico Holdings (Nasdaq: PICO), a company based in La Jolla, reported a second quarter loss, in spite of an expanding portfolio. The company is in the business of acquiring, operating, or financing companies with low value to raise the companies’ net worth. Currently, the company has in its control insurance, water, and real estate companies, and they also have some interests in small businesses.
Pico’s reported second quarter losses came to nearly $2.5 million, about 12 cents a share for stockholders, compared with last year’s second quarter gain of just over $28 million, about $1.50 a … (0 comments)

la jolla: Innovative New Programs to Sell Homes - 06/06/09 07:20 PM
Rockrose Development Corporation has begun offering an interesting incentive to potential buyers. They will buy the property back. Anybody who purchases one of their hundreds of condominiums in New York, can, if values continue to fall, sell the apartment back after five years for 110% of what they paid. Home builders have been forced to come up with innovative ideas to urge people to buy as inventories of unsold homes are at their highest since the early 60s and sales are at their lowest levels in decades.
In addition to money-back clauses, some sellers are offering credits for renovation projects, … (0 comments)

la jolla: Foreclosures Drop for Second Consecutive Month - 11/10/08 05:23 PM
Instead of increasing foreclosures, the latest trend seems to show that foreclosures have fallen for the second consecutive month. The numbers indicate that foreclosures have not fallen to this level since the second month of 2007 and it appears that the trend will continue. Foreclosure filings were down over ten percent from Aug '08 and down a bit less than seven percent from Sept '08.
Homes that had been taken over by lenders, in October, were dramatically down at nearly twenty-five percent from the previous month. The numbers also indicate that foreclosures, in the United States, have not been this … (0 comments)


Ruth Mills

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