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Byline: - Staff and Wire Services

State sees drop in home markets

Eight major markets in California saw home prices decline in September from the same month last year, a real estate research firm said Tuesday.

Statewide, the median price paid for new and resale houses and condominiums in September was $466,000, up just 2.4 percent from $455,000 in the year-ago period and down 1.3 percent from August, according to DataQuick Information Systems.

The last time the median price rose at a slower pace was February 1997, when it increased 1.3 percent, to $150,000.

Six of the eight counties to see declines are located in the San Francisco Bay Area. Sonoma County had the steepest drop at 7.7 percent. Other decreases were seen in San Diego County (4.4 percent) and Ventura County (3.3 percent).

Home sales were also down statewide on an annual basis in September, DataQuick said. In all, 42,450 homes were sold -- a 28.8 percent drop from the same month last year and a 14.8 percent decline from August.

Dole completes JP Fruit purchase

WESTLAKE VILLAGE -- Dole Food Co. Inc. announced Tuesday the completion of its purchase from Jamaica Producers Group Ltd. of the 65 percent of JP Fruit Distributors Ltd. that Dole does not already own for $41.9 million in cash.

JPFD imports and sells fresh produce in the United Kingdom.

Benoit Galland, president of Dole Europe, said the acquisition ``permits Dole to strengthen its penetration of the vital market for fresh produce in the United Kingdom and the Republic of Ireland, a market that traditionally values quality.''

Dole Food Co., with 2005 revenues of $5.9 billion, is a producer and marketer of fresh fruit, vegetables and cut flowers and also markets a line of packaged and frozen foods.

Viaspace seeking detection patent

PASADENA -- Viaspace Inc., which commercializes proven technologies from NASA and the U.S. Department of Defense, said Tuesday that it has filed a patent application for a concealed explosives detection system.

The application with the U.S. Patent and Trademark Office is for an automated threat detection system ``based on a novel approach using image processing and automated reasoning techniques of both video and infrared surveillance data,'' according to the company.

Viaspace's proprietary technology is used to automatically detect items such as suicide bombs concealed under clothing at distances up to 100 meters away.

Viaspace is targeting homeland security and defense markets, but the technology can also be applied commercially to detect theft and pilferage pilferage n. a crime of theft of little things, usually from shipments or baggage. (See: theft), he said.

Teledyne branch in Air Force pact

Teledyne Technologies Inc. said Monday that a subsidiary signed a 10-year contract worth up to $370 million with the Air Force Material Command.

Under the contract won by Teledyne Wireless Inc., which does business as Teledyne MEC, Teledyne will continue to support parts and assemblies used on F-15, F-16, B-1B, B-52, C-130 and other aircraft.
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Title Annotation:Business
Publication:Daily News (Los Angeles, CA)
Date:Oct 18, 2006
Words:487
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