BUSINESS NOTES AREA HOME PRICES REACH NEW PEAK.Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, home prices reached a new peak last month, as potential buyers scrambled to find available homes, a La Jolla-based real estate information service said Friday. The median price paid for a home in the region was a record $213,000 last month, said DataQuick Information Systems. That was up 0.9 percent from $211,000 for August and up 9.8 percent from $194,000 for September last year. Because of a relative increase in sales of entry-level homes, the year-over-year price increase understates the current rate of appreciation, which is closer to 12 percent. A total of 26,151 new and resale homes and condos were sold in 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. , Riverside, San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Ventura, San Bernardino San Bernardino, city, United States San Bernardino (săn bûr'nədē`nō), city (1990 pop. 164,164), seat of San Bernardino co., S Calif., at the foot of the San Bernardino Mts.; inc. 1854. and Orange counties last month. That was down 9 percent from 28,739 for August, and off 1.7 percent from 26,605 for September 1999, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the firm. But a decline from August to September is normal for the season, according to DataQuick. - City News Service Salem to acquire two more stations CAMARILLO - Salem Communications Salem Communications (NASDAQ: SALM) is a media company specializing in religious and conservative talk radio which operates in the United States, with 99 U.S. commercial radio stations (pending acquisitions) that are primarily concentrated in the nation's biggest markets, Corp., one of the nation's largest radio station owners, said Friday it has signed a $7 million deal to acquire two more stations in the Midwest. Edward G. Atsinger III, Salem's president and chief executive officer, said the company is purchasing WWTC-AM 1280 in Minneapolis and WZER-AM 540 in Milwaukee, both affiliates of Catholic Radio Network. WWTC-AM joins KKMS-AM and KYCR-AM as Salem's third station in Minneapolis, while WZER-AM is the company's first station in Milwaukee, the nation's 31st largest media market. Atsinger expects the deal to close in the first quarter of 2001. Upon the close of the deal, the Camarillo-based company will own/or operate 73 radio stations, including 52 stations in the nation's top 25 media markets. - Daily News Firm completes private placement WOODLAND HILLS - Dental/Medical Diagnostic Systems Inc., a manufacturer and supplier of dental equipment and tooth whitening tooth whitening Dentistry Any process is intended to whiten yellowed or stained teeth Complications Improperly applied, whiteners have been associated with tooth disintegration. See Cosmetic dentistry. materials, announced Friday it has completed a private placement. The company sold nearly 2.2 million shares of common stock, and warrants to purchase up to 719,101 shares, for an aggregate purchase price of $1.9 million. The proceeds will be used to support the introduction of the company's new Apollo e.Light, as well as for general working capital. - City News Service Deal negotiated for debt payment GLENDALE - Pollution Research and Control Corp. may give up control of the company in exchange for payment of its debt and working capital for its China projects, the company announced Friday. The board of directors of the Glendale-based maker of air pollution measurement equipment and related computer software has approved an unsolicited offer from a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. it did not identify. A.E. Gosselin Jr., president and chief executive officer, did not return phone calls for comment. In a written statement, Gosselin said the deal combines $5 million in financing to pay off the company's convertible debentures Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. and related loans and provide the company's subsidiary, Dasibi Environmental Corp. with $1.5 million in working capital to advance its China projects. A shareholders meeting is set for Nov. 24 to approve the deal. - Daily News Tests on to find gene-altered corn WASHINGTON - The company that developed a variety of gene-altered corn linked to a nationwide recall of taco shells is trying to recover 9 million bushels of the grain that may be headed to food companies. The corn, known as StarLink, was not approved for human consumption because of questions about its potential to cause allergic reactions. Federal officials describe the health risk as remote; StarLink is approved only for animal food or industrial uses. Mills nationwide are starting to test incoming corn and unshipped flour for signs of StarLink, said Betsy Faga, president of the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Millers Association. - Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion