Archive for the ‘business’ Category

Nestle to buy frozen pizza businesses

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DOWNTOWN — Nestle fueled speculation about a shift in the global confectionary market Tuesday after it announced a $3.7-billion deal that would put its Glendale-based USA division in charge of major frozen pizza brands to be acquired from Kraft Foods.

The agreement, which would involve a cash purchase of North American frozen pizza labels DiGiorno, Tombstone, California Pizza Kitchen, Jack’s and Delissio, came as Kraft is preparing to sweeten its third offer to purchase British candy maker Cadbury.

Nestle’s proposed purchase of the pizza businesses, which is pending approval from Canadian and American regulatory authorities, will give Kraft additional cash resources as it bids for Cadbury.

Nestle said Tuesday it would not pursue or participate in a deal to purchase the British confectioner.
The agreement with Kraft comes a day after Nestle announced it would sell its 52% stake in Swiss ophthalmology firm Alcon for about $28 billion.

Combined, the moves will allow Switzerland-based Nestle to refocus on its food and beverage operations, the firm said.

“The acquisition brings leadership in the frozen pizza category, where Nestle only had a minor presence until now, and builds on Nestle’s existing pizza know-how and operations in Europe,” the firm said in a statement.

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Written by Zain Shauk

January 5, 2010 at 8:49 am

Posted in business

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Parade, bowl games to bring big money

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DOWNTOWN — Amid a local economy sacked by underperforming tax revenues, slumping home values and high unemployment, the biggest winners in the Rose Bowl and BCS National Championship Game in Pasadena won’t be taking the field.

The 121st Rose Parade and two post-season college football games are expected to produce an economic impact of $350 million to $400 million for greater Southern California, according to the Pasadena Tournament of Roses and past economic studies.

“This has to be an economic pleasure for the Southern California region,” said Bill Flinn, chief operating officer for the Tournament of Roses. “This year there’s no doubt about the fact. You have two games, four out-of-state teams and a parade that drives hundreds of thousands of people to the area.”

A new rotating collegiate bowl system for the first time brings to Pasadena two major bowl games within a week of each other.

A further economic boon to the area comes in the fact that neither USC nor UCLA are competing in the games, said Bruce Ackerman, president and chief executive of the Valley Economic Alliance.

He noted that not only are the competing colleges from outside Southern California, but the closest school is more than 800 miles away in Eugene, Ore.

Read on.

Written by Christopher Cadelago

December 31, 2009 at 12:54 pm

California Credit Union warns of new smishing scam

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A fraudulent — known as smishing — text message from “California Credit Union.”

 

This morning I received a fraudulent — known as smishing — text message from “California Credit Union.” 

The real California Credit Union, which has a branch at 701 N. Brand Blvd. in Glendale, warned of smishing attempts by scammers on its website: “CCU is not sending text messages to members or non-members,” the website said. “CCU will never send a text message, e-mail or call you directly asking for any account or personal information.” 

The text contained a warning about my credit union service and instructed that I call the 248-number sent with the text. 

A robotic-sounding voice answered instructing me to enter my credit card number — I dialed a fake number.

The voice proceeded to tell me that the call would be monitored or recorded for “quality assurance.” Twice more, the recording asked for my credit card information, and I again entered a fake number. 

I’ve since called the number again, and was greeted with, “This mailbox is full, and cannot accept new messages at this time.”

Several postings on 800notes.com, a Web forum dedicated to people’s complaints about annoying calls from mystery phone numbers, said that in the time it took to write this post, five people had received the same text.

Like me, three people claim to be Glendale residents and use Sprint as their cell phone service provider.

Written by Michael J. Arvizu

December 22, 2009 at 12:49 pm

Posted in business, Crime

Airport drug money funds $12,000 vehicle

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The Burbank-Glendale-Pasadena Airport Authority Police Department purchased a T3 Personal Mobility Vehicle for use at the Bob Hope Airport using $12,000 seized from people caught trafficking drugs, officials said Monday.

At a time when holiday crowds can impede speedy movement of police officers, the vehicle enables officers to quickly move through the terminal in short order, said Lucy Burghdorf, the airport’s community relations manager.

The T3 runs on clean energy, uses only about 10 cents per day of electricity and can travel up to 25 miles per hour.

It is equipped with a fully compliant Law Enforcement LED emergency lighting package and has a capacity of up to 450 pounds,  including the rider and equipment, Burghdorf said.

Written by Christopher Cadelago

December 14, 2009 at 1:49 pm

Posted in burbank, business

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High school choir to perform at Bob Hope

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The John Burroughs High School choral group will perform from 11 a.m. to noon on Dec. 21 at the Bob Hope Airport terminal.

A dozen carolers wearing Dickensian-era costumes will sing holiday songs to entertain passengers waiting for flights.

Bob Hope Airport officials will make a $500 donation  to the John Burroughs High School Vocal Music Assn., a way of saying “thank you” and to help promote the arts in Burbank schools, said Lucy Burghdorf, the airport’s community relations manager.

Written by Christopher Cadelago

December 14, 2009 at 1:45 pm

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Local foreclosures drop 19%, but relief may be temporary

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Local foreclosure rates slid in November to match a statewide trend of steady declines in recent months, but the lower frequency of trouble for homeowners may only be temporary, experts said.

The amount of foreclosure filings in Glendale, Burbank, La Crescenta and La Cañada Flintridge fell a combined 19% in November, compared with the month prior, according to a report prepared for the Glendale News-Press by real estate tracking firm RealtyTrac.

Those drops translated into declines in the rate of foreclosure filings in each community.  Read the rest of this entry »

Written by Zain Shauk

December 10, 2009 at 1:44 pm

Airlines cancel Bob Hope flights over frost

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AIRPORT DISTRICT — Early-morning frost Wednesday prompted Southwest Airlines to cancel flights at Bob Hope Airport.

Ten Southwest flights, including departures to Las Vegas and arrivals from San Jose, Sacramento and Oakland, were canceled. The carrier also delayed five of its flights and U.S. Airways delayed one flight.

Airport spokesman Victor Gill characterized the cancellations as “totally infrequent.”

Local temperatures were around 37 degrees this morning, according to the National Weather Service.

The delayed flights have all taken off.

Written by Christopher Cadelago

December 9, 2009 at 11:39 am

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