Review & Preview.

AUGUST 2-8

Northrop Certified: Northrop Grumman Corp. sent documents to the Securities and Exchange Commission certifying the accuracy of the L.A.-based defense contractor's financial reports. Chief Executive Kent Kresa and Chief Financial Officer Richard Waugh signed the statements, in accordance with the SEC's new rules, effective Aug. 14, that require certification.

Cake Back: Cheesecake Factory Inc. recalled a number of cheesecakes contaminated with potentially dangerous listeria bacteria and as a precautionary measure recalled all its baked goods made from July 18 to July 21. At first, the Calabasas-based restaurant chain said there were no reports of illness due to the contaminated cakes, but later in the week the Olive Garden restaurant chain said some of its customers may have eaten the cheesecakes. A serious case of listeriosis takes up to six weeks to develop and could be especially harmful to the elderly, children and pregnant women.

Earnings Results: Edison International reported second-quarter net income of $665 million, compared with a net loss of $102 million for the like period a year ago. Revenue for the Rosemead-based energy company and parent of Southern California Edison rose 20 percent, to $2.93 billion. The state's second-largest utility, which ran up billions in debt buying power and prices skyrocketed, ended up spending less buying power in the second quarter. Infonet Services Corp. reported a net loss for the first quarter ended June 30 of $36 million, compared with net income of $2.5 million for the like period a year ago. Revenue for the El Segundo-based network services company fell 14 percent, to $147 million. Univision Communications Inc. reported second-quarter net income of $22.2 million, compared with $28.6 million for the like period a year ago. Revenues for the Los Angeles-based media company rose 36 percent, to $322.8 million.

Bank Ultimatum: The L.A. City Council voted to shut down the Los Angeles Community Development Bank unless it becomes self-sufficient in the next 18 months. Formed after the 1992 riots to lend money to inner-city businesses, the bank has been hit by bad investments, risky loans and poor management.

Calpers Suit: A suit filed by the California State Teachers' Retirement System alleges that Homestore.com Inc. improperly boosted revenue through an advertising agreement with America Online. In a complaint filed in U.S. District Court in Los Angeles, Westlake Village-based Homestore is alleged to have used its AOL agreement to engage in phony transactions that misled shareholders. AOL isn't named as a defendant. A spokesman for Homestore, which supplies online home listings, said the company does not comment on pending litigation.

In Labor: Nurses and other workers at Queen of Angels-Hollywood Presbyterian Medical Center reached agreement with Tenet Healthcare Corp. on a new contract after a bitter labor dispute that saw 18 nurses fired. Meanwhile, registered nurses at St. Vincent Medical Center walked off the job after rejecting a proposed contract offer, disrupting care at the downtown hospital.

In Trouble: Thomas S. Hughes, the chief executive of San Pedro-based e-commerce firm EConnect, was arrested and charged with repeated violations of securities laws in an alleged scheme to inflate the firm's stock price using false press releases. SEC, Justice Department and FBI officials claim that Hughes was in violation of an injunction issued against him in April 2000 prohibiting him from violating securities laws.

AUGUST 1-18

Retirement Check: Reps. Xavier Becerra, D-Los Angeles, and Robert Matsui, D-Sacramento, both members of the House Subcommittee on Social Security, host a free public forum on the future of Social Security. Privatization of Social Security is up for discussion, but with the stock market down in the dumps, expect fierce opposition. The forum takes place from 10 a.m. to noon on Tuesday (13th) in the boardroom at Metropolitan Transportation Authority Headquarters, 1 Gateway Plaza, Downtown Los Angeles.

Break a Plate: The annual Los Angeles Greek Festival starts Friday (16th) and runs through Sunday (18th) at the St. Sophia Greek Orthodox Cathedral at the corner of Pico Boulevard and Normandie Avenue in Los Angeles. Featuring live Bouzouki music, folk dancing, wine tasting and Greek food and pastries, admission is $3. Information: [phone].

Due Date: It's time for America's chief executives to come clean. Aug. 14th is the deadline set by the Securities and Exchange Commission for CEOs and CFOs of the nation's 700 or so public companies to personally attest to the accuracy and completeness of their companies' financial statements.

VICA Meet: The Valley Industry and Commerce Association has invited the region's mayors and the L.A. City Council to an "Elected Officials Roundtable Luncheon" on Monday (12th) at the Airtel Plaza Hotel in Van Nuys (7277 Valjean Ave.) For more information call 818-817-0545.

Chick-a-long: The Dixie Chicks will rock the Kodak Theatre on Thursday (15th) and Friday (16th). The shows will be filmed for an NBC special slated to air this fall.

Sports Beat: Very slow on the local front this week. The Dodgers are out of town (the less seen these days, the better). Attention will be focused over the weekend at the Hazeltine National Golf Club in Chaska, Minn., site of the 84th PGA Championship, the last of the four major golf tournaments.

More Reports: Earnings reports are due this week from audio/visual production shop Point.360 and gaming concern Pinnacle Entertainment.

Green Phil: The California Philharmonic hosts another installment in its annual Festival on the Green concert series Saturday (17th) at the Arboretum of Los Angeles County with an evening devoted to the music of Rodgers & Hammerstein. For information, call [phone].