Bookstore's move ends independent era on Promenade. (Retail).AFTER nearly 20 years on the Third Street Promenade The Third Street Promenade is a pedestrian street in Santa Monica, California, United States. It is considered one of the premier shopping destinations in West Los Angeles and frequently draws crowds from all over Los Angeles County. , Hennessey + Ingalls Art Bookstore will be moving off the Santa Monica Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. pedestrian mall pedestrian mall pedestrian (US) n → Fußgängerzone f pedestrian mall n (US) → zona pedonale and around the corner to Wilshire Boulevard Wilshire Boulevard is one of the principal east-west arterial roads in Los Angeles, California, United States. It was named for H. Gaylord Wilshire (1861-1927), an Ohio native who made and lost fortunes in real estate, farming, and gold mining. . With independent bookseller Midnight Special moving from its long-time location next winter, there will be no independents left at the popular shopping street. Mark Hennessey, owner of the store that specializes in art books, said high rent forced him to move his store next August when his lease expires. Hennessey has been paying $5 a square foot for 7,500 square feet of space. But Wells Fargo Bank Trust Department, which manages the building owned by the Hunt Family, is raising the rent to match the $9 to $10 a square foot many landlords are getting on the Promenade. Hennessey + Ingalls will move into a new 8,100-square-foot space on Wilshire Boulevard located between 2nd and 3rd streets, near a recently opened Houston's restaurant. Hennessey wouldn't disclose terms of his 15-year lease but said it was less than $5 a square foot. "I really tried hard to stay," he said. "Some customers probably won't follow us no matter how many times we tell them we are only moving 100 yards away. Sweat Equity Sweat Equity The equity that is created in a company or some other asset as a direct result of hard work by the owner(s). Notes: For example, rebuilding the engine on your 1968 Mustang to increase its value. With a new co-director in Los Angeles, Sweatshop sweatshop: see sweating system. Watch plans to hold more retailers accountable for buying goods from garment sweatshops. Victor Narro was recently named co-director of the organization formed in 1995 after 80 Thai immigrants were found working in slave-like conditions in El Monte. The group will be monitoring how new free trade pacts that start in 2005 affect local garment workers and their employers. Some of the those pacts include the Free Trade Area of the Americas The Free Trade Area of the Americas (FTAA) (Spanish: Área de Libre Comercio de las Américas (ALCA), French: Zone de libre-échange des Amériques (ZLÉA), Portuguese: Área de Livre Comércio das Américas , which will extend the North American Free Trade Agreement North American Free Trade Agreement (NAFTA), accord establishing a free-trade zone in North America; it was signed in 1992 by Canada, Mexico, and the United States and took effect on Jan. 1, 1994. to the tip of South America. "We will be creating a stronger social watch program in L.A. and elsewhere," Narro said. Last fall, Sweatshop Watch backed a lawsuit filed by the Asian Pacific American Legal Center accusing Forever 21 Inc., a Los Angeles-based retail chain, of using a garment contractor who allegedly underpaid and overworked its employees. The suit was dismissed earlier this year. Forever 21 turned around and filed a defamation lawsuit against the Garment Worker Center and the Coalition for Human Immigrant Rights of Los Angeles. But Narro said Sweatshop Watch continues to monitor the garment contractors used by Forever 21. The advocacy group is also planning to organize a boycott of Forever 21 stores on the East Coast as well as resume demonstrations outside its Los Angeles stores. Other projects include supporting enforcement of laws that protect garment workers and monitoring contractors to make sure they don't break any labor laws. Staff reporter Deborah Belgum can be reached at (323) 549-5225 ext. 228, or at dbelgum@labusinessjournal.com. |
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