Los Angeles Business Journal

Stocks Lower

The Dow Jones industrial average was down 51 points in Friday morning's trading to 16,663. The S&P 500 was down 9 points to 1,946. The Nasdaq was down 10 points at 4,443.

Voters to See $7.5 Billion Water Bond

The November ballot will include a $7.5 billion water bond measure that would finance new water storage, water recycling and groundwater cleanup, the Associated Press said.

Google Executive Joins American Apparel Board

American Apparel’s leadership changes continued with the appointment of Google and You Tube executive Laura Lee. Lee will be the company’s second female board member as the clothing manufacturer tries to distance itself from sexual harassment allegations surrounding former chief Dov Charney, Fortune reported.

State Lacks Land Needed for High-Speed Rail

California officials have yet to acquire much of the real estate needed to build a 29-mile stretch of the California High Speed Rail project that passes through Fresno, slowing the construction of the $68-billion endeavor, the Los Angeles Times said.

Pasadena Hotel Gets $60 Million Upgrade

The historic Hotel Constance in downtown Pasadena is getting a $60 million renovation after functioning as a senior housing complex for decades, according to the Los Angeles Times.

New Owner for Villa Carlotta Apartments

Los Angeles investment firm CGI Strategies has purchased the historic Villa Carlotta apartment building in Hollywood for $12.5 million, according to the Los Angeles Times.

Terrorism Case Worries Financial Community

A federal trial involving a bank account maintained by a Hamas spokesman at Arab Bank’s branch in Beirut is arousing worries within the financial community that doing business in troubled parts of the world may be too risky, depending on whether the bank in this case is found to be liable for any wrongdoing, the New York Times said.

Some Investors Want Troubled Mortgages

A few investors, including mutual funds, are buying bonds backed by mortgages on the brink of foreclosure in an attempt to win short-term returns that may materialize if foreclosures go smoothly, the New York Times said.

LAX Teeming With Lost Property

Transportation Security Administration officials at Los Angeles International airport have dozens of lost tablets, phones and laptops among the thousands of items left behind at security checkpoints that official want to return to their owners, the Daily Breeze reports.

El Segundo Post Office to Reopen

The sole Post Office in El Segundo is set to reopen Monday after flooding caused a six-month closure, the Daily Breeze said.

Home Sales Fell in July

Southern California’s real estate market cooled off in July as sales fell 12.4 percent, the Los Angeles Times reported.

Online Leak Threatens ‘Expendables’ Box Office

The third film in the “Expendables” action franchise was thought to be a contender for the weekend’s top spot, but an online leak of the film may hinder its earnings, The Wrap said.

Now, Too Little Salt May Be Bad For You

A new comprehensive study indicates that consuming too little sodium can pose health risks, challenging widely-held views on what constitutes a healthful level of salt intake, the Wall Street Journal reported.

Stocks Up

The Dow Jones industrial average was up 31 points in early Thursday trading to 16,683. The S&P 500 was up 5 points to 1,952. The Nasdaq was up 11 points to 4,445.

L.A. May Ask Banks to Revise Rate Swaps

The City Council is scheduled to consider a plan today from Councilman Paul Koretz that would result in the city attempting to unravel interest rate swaps including pre-recession loan agreements that resulted in the city paying above-market interest rates on debt, according to the Los Angeles Times.