BRIEFCASE PREDATORY LOANS FOCUS OF NEW LAW.Byline: - Staff and Wire Services Cheered on by proponents, the Los Angeles City Council  The Los Angeles City Council is the governing body of the City of Los Angeles, California, United States. on Friday
approved an anti-predatory lending law with an 11-0 vote.
The law, introduced by Councilman Mark Ridley-Thomas Mark Ridley-Thomas (born 1954) is currently a California State Senate where he chairs the Business, Professions and Economic Development Committee]]. He represents the 26th district which includes the communities of Vermont Knolls, Jefferson Park, Leimert Park, Hancock Park, Korean , is similar to one in Oakland and augments a state statute implemented last summer. Representatives of the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. sector objected to the council action, saying it was premature. The Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. law focuses on the high-cost refinance sector. It doesn't ban these kinds of loans but outlines seven steps lenders must take, including making sure that borrowers receive some independent counseling. Northrop names two to its board Northrop Grumman Corp. said Friday it had named Charles H. Noski, the former chief financial officer and vice chairman of AT&T Corp., to its board. Noski, 50, recently retired as vice chairman of AT&T. He announced in April that he would leave the company when it completed the sale of its cable TV operations to Comcast Corp., which happened Monday. He resigned from his CFO See Chief Financial Officer. position in June. Century City-based Northrop Grumman also named Charles R. Larson Charles R. Larson is a retired four-star Admiral of the United States Navy. Larson received a Bachelor of Science Marine Engineering from the United States Naval Academy in 1958. He twice served as Superintendent of the U.S. Naval Academy in Annapolis, Maryland. to its board. FTC FTC See Federal Trade Commission (FTC). OK's pact with AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. , rivals WASHINGTON - The Federal Trade Commission on Friday unanimously endorsed four AOL Time Warner Inc. applications seeking approval of nonaffiliated Internet service providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. and alternative cable broadband service agreements. In December 2001, New York-based AOL Time Warner received regulatory approval to offer America Online service over its cable and television networks by allowing certain Internet rivals to have the same access. The FTC had been reviewing the rival service deals over the past two years, as part of the conditions it placed on AOL and Time Warner before allowing their $124 billion merger to proceed in December 2000. Krispy Kreme's fortunes on rise WINSTON-SALEM, N.C. - Krispy Kreme Doughnuts said Friday its earnings increased 56.3 percent for the third quarter, narrowly beating Wall Street estimates as revenue rose 29.4 percent. The company earned $10.1 million, or 17 cents a share, for the three months ended Nov. 3 compared to $6.5 million, or 11 cents a share, in the period last year. Revenue rose to $129.1 million compared with $99.8 million a year ago. The latest earnings were a penny per share higher than the consensus forecast of 16 cents by analysts surveyed by Thomson First Call. Limited selling off Lerner division COLUMBUS, Ohio - Limited Brands Inc. announced Friday it is selling its Lerner New York/New York & Co. operations to an investor group led by the division's leader as part of Limited's effort to focus on core brands. Limited will receive $78.5 million in cash, a $75 million subordinated note and the right to buy up to 15 percent of the new company's equity in the future, under the deal with Richard Crystal, six-year president and chief executive of the business unit, and Bear Stearns Merchant Banking. Limited said the transaction, which is subject to financing and other customary conditions, is expected to close within several weeks. Heinz-Del Monte deal to be tax-free PITTSBURGH - H.J. Heinz Co. announced Friday that a plan to spin off brands such as StarKist Tuna and 9-Lives cat food to Del Monte Foods Del Monte Foods (NYSE: DLM) is an American food production and distribution company based in San Francisco, California. It offers canned goods in Del Monte, S&W and Contadina brands, pet foods under Kibbles n' Bits, 9Lives, Pounce, Milk-Bone and several premium brands, will be tax-free to the companies and their shareholders. The Internal Revenue Service's decision capped a regulatory review that was the final hurdle for the companies to complete the estimated $2.5 billion deal, which includes transferring $1.1 billion in debt to Del Monte. On Thursday, San Francisco-based Del Monte reaffirmed its 4-month-old commitment to Heinz following news that an unidentified suitor SUITOR. One who is a party to a suit or action in court. One who is a party to an action. In its ancient sense, suitor meant one Who was bound to attend the county court, also, one who formed part of the secta. (q.v.) offered $575 million to take over Del Monte. |
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