Review & Preview. (Up Front).

DECEMBER 7-13

Banking Can Be Fun: Just six months ago, Japanese-owned United California Bank was trumpeting its new name and logo as a result of the merger of Sanwa and Tokai banks. Well, never mind -- UCB has been snapped up by the acquisitive French banking giant, BNP Paribas, parent of San Francisco-based Bank of the West. As part of the $2.4 billion deal, the new unit will be based in S.F. and operate under Bank of the West, which routinely pokes fun at the competition. "We're not dealing with a cure for cancer here. We are going to continue to have some fun," said Don McGrath, Bank of the West's president.

Smuggling Caper: A Los Angeles bus company was cited in a massive smuggling scheme in which thousands of unlawful immigrants were transported from the U.S.-Mexico border to U.S. cities. Attorney General John Ashcroft said 32 officers and employees of Golden State Transportation were indicted in a series of raids. The bus company is alleged to have moved 50 to 300 illegal aliens a day from areas near the border. Golden State is 51 percent owned by a subsidiary of Greyhound Lines Inc., whose spokeswoman said the company knew nothing of the raids.

Back to the Future: Nothing's official yet, but Vivendi Universal is in talks with Barry Diller's USA Networks about taking over most of USA's television operations. This is a huge embarrassment for Edgar Bronfman, who before selling off Universal to Vivendi, jettisoned many of these same television assets to USA. So Vivendi Universal would be buying back what it already owned -- except at a steep premium. Also as part of the deal, Vivendi would relinquish its 43 percent stake in USA, which has proven to be a real pain for Diller, who likes doing things his way. But meanwhile, there were reports late last week that Diller might be offered the reins of Universal Studios. Stay tuned.

Tony Hawk Lives: Who said retail sales were soft? Activision Inc. said its third quarter results will top forecasts -- in part because of strong holiday demand for the "Tony Hawk Pro Skater" video games. The Santa Monica-based company forecasts earnings of 58 cents a share for the three months ending Dec. 31 -- a nickel more than the consensus estimate by First Call. Activision stock jumped on the news; its shares have almost tripled this year.

No Drama: The Directors Guild of America and the Alliance of Motion Picture and Television Producers wrapped up negotiations on a new three-year contract more than six months before the current pact expires on June 30. Not surprisingly, the DGA and AMPTP described the agreement -- which boosts residuals, irons out some technology issues and requires Fox to pay the full network level by the third year -- as a "win-win."

Oy Canada: TV commercials and movies of the week are one thing, but a new study commissioned by Raleigh Studios asserts that Canadian subsidies are luring ever more big-budget features. The study said 36 films with budgets higher than $5 million were shot in Canada in 2000, up from 21 in 1998. In the U.S. the number of those movies declined to 84 last year from 107 in 1998.

Barely Aloft: In a move that's likely to result in substantial layoffs at its 4,500-worker Long Beach plant, Boeing said it would slow production of its 717 jetliner. Even so, the announcement was a surprise, inasmuch as many analysts expected the program to be shuttered altogether -- six orders have been taken this year while 20 have been canceled.

DECEMBER 17-21

Big Rush: With retailers having a few more holiday shopping days this year, expect the last-minute rush the weekend before Christmas. By that time, however, stores will have slashed their merchandise to the bone, which will eat into crucial fourth quarter earnings. Reports so far show holiday spending to be even slower than feared, but perhaps the final surge might help.

New Job: Randall Lee reports on Monday for his first day as L.A.-based regional director of the Securities and Exchange Commission. He comes to the SEC from the U.S. Attorney's Office in Los Angeles.

Hot Lunch: Capital Guardian Trust Co., the venerable downtown asset management firm, holds its annual holiday luncheon on Wednesday. Don't bother showing up to this insiders' event unless you were invited. Super-low-profile Capital Guardian doesn't take kindly to interlopers.

Zev's Treat: Speaking of holiday bashes, L.A. County Supervisor Zev Yaroslavksy, who was just named chairman of the County Board of Supervisors for the next year, throws his seasonal shindig Tuesday. It'll be a double treat, since Tuesday is also his birthday.

Home For the Holidays: The latest AAA survey projects that holiday travel will be off 6 percent from last year, with most of the travel to be by car. The number of those traveling by air is likely to fall 20 percent, to 10 million. In Southern California, motorists will account for 80 percent of all travelers during Christmas and New Year's Day.

Map Makers: Catching up to secessionists who just released their own map of a proposed Valley city with 14 council districts, the Los Angeles City Council Redistricting Commission is getting to work on its own redistricting plan. Made up by council appointees, the commission reconvenes each decade after census information is released to reconfigure the size and shape of the city's 15 districts. The new city map will be drawn next year. The first public hearing on the process will be held -- you guessed it -- in the Valley. Dec. 19 from 7 to 9 p.m. in the Monarch Hall at Los Angeles Valley College, 5800 Fulton Ave.

What Now?: When the Fed lowered interest rates last week, it appeared to confirm the widely held view that the national economy continued to sputter in November. We'll know more on Dec. 19 when the Conference Board releases November's index of leading economic indicators. In October, the index turned positive after falling in August and September.