BUSINESS NOTES MEDIAN L.A. HOME PRICE UP BY 11.5%.

The median price of single-family detached homes in Los Angeles posted 11.5 percent gains in the first quarter versus the same period a year ago, statistics released Thursday show.

The median home price in Los Angeles County was $225,160 compared with $201,960 in the year-ago quarter. First-quarter home sales were down 2 percent from a year ago, versus 5.4 percent statewide.

Other regions posting double-digit increases in the median home price for their respective areas were Santa Clara, the Central Valley, High Desert, Northern California, northern Wine Country, Sacramento, San Diego, San Francisco Bay, San Luis Obispo, Santa Barbara's south coast and north Santa Barbara County.

Statewide, the first-quarter median home sale price was up 9.9 percent to $250,760 - the second-highest sum on record - from a year ago, according to the California Association of Realtors and Real Estate Solutions, a real estate information service.

- City News Service

Superior to supply T-Bird's wheels

VAN NUYS - Superior Industries International will supply aluminum road wheels for the redesigned 2002 Ford Thunderbird.

Superior will manufacture three different styles of aluminum wheels for the Thunderbird, including two chrome-plated wheels. Production of the new T-Bird is scheduled to begin at Ford this month, with initial deliveries expected in the fall.

- Daily News

Gigante workers unionize, ink pact

ARLETA - Gigante Supermarket announced a union contract with its employees on Thursday as they organized under the aegis of the United Food and Commercial Workers.

The retailer, which is undergoing aggressive expansion from its Mexican home base to the Southern California market, is upgrading from three to 30 stores in largely Latino markets. Workers voted in April to select UFCW to guide their future negotiations with the chain.

- Daily News

Spring spending a recovery sign?

NEW YORK - Most major retailers reported better-than-expected sales for April as consumers, enticed by warmer weather, bought up lawn mowers and shorts.

However, industry observers were reluctant to call the spending uptick the beginning of a long-term recovery, as consumers continue to struggle with rising energy prices as well as a deepening economic malaise.

``April's results proved that a recovery is possible. May will have to prove it,'' said C. Britt Beemer, chairman of America's Research Group, a Charleston, S.C., market research firm. ``There still remains many economic fears in the minds of consumers today.''

Strong performances from discounters and value-oriented chains, particularly Wal-Mart Stores Inc. and Kohl's Corp. indicated economic worries were keeping consumers price-conscious.

- Associated Press

Greenspan warns of FDIC changes

WASHINGTON - Federal Reserve Chairman Alan Greenspan said Thursday policy-makers should proceed with caution as they explore overhauling a Depression-era system that insures deposits in banks and thrifts.

The Federal Deposit Insurance Corp. has proposed some changes to the system, which was established in 1933.

The FDIC last month recommended to Congress that all banks pay for deposit insurance according to their risk of failure, and proposed that the $100,000 limit on account coverage be pegged to inflation.

The insurance system and other federal programs that aim to keep banks safe are often referred to as the ``safety net.'' Any changes to this safety net, Greenspan said, must be balanced against potential costs.

- Associated Press