Skip to main content
The largest online newspaper archive
A Publisher Extra® Newspaper

The Los Angeles Times from Los Angeles, California • C1

Los Angeles, California
Issue Date:
Extracted Article Text (OCR)

BuSINESS TUESDAY NOVEMBER 6 2018 LAT IMES INESS 25,461.70 2,738.31 15.25 7,328.85 28.14 $1,229.80 1.10190.87DOW 500 NASDAQ GOLD $63.10 0.04OIL $1.1418 3.19% 0.02U.S. T-NOTE Since Related Cos. first got the contract in 2004 to build themassiveGrandAv- enue project, been a housing boomand bust, a fi- nancial crisis and a new ex- plosion of residential con- structiondowntown. Yet throughout that pe- riod, the $1-billion complex designed by world-re- nowned architect Frank Gehry has failed to materi- alize at its coveted site across from theWalt Disney ConcertHall. On Monday, the New York developer took a giant step to finally kick off the project considered bymany to be the last large piece of the redevelopment puzzle that isBunkerHill.

Related said it has $630 million in construction financing from German lender Deutsche Bank in hand, and work on the proj- ectwill begin thismonth. last major hurdle has been said Rick at Related. now know that this project is going to get The complex scheduled to be completed by 2021 has long been viewed as a poten- tially transformationaladdi- tion to the Bunker Hill neighborhood, which has lagged behind in the nearly two-decade renaissance that has rejuvenated much of downtown. The open-air complex of apartments, condomini- theaters, restau- rants and shops promises to enliven a city block that has been mostly dead for half a century. Itwill replaceanag- GRAND PROJECT HAS KEY FUNDS With a construction loan, work on the $1-billion Frank Gehry complex downtown can begin this month.

By Roger Vincent Project, Acouple of years ago, a Floridaman was fined theFederal Communi- cations Commission for employ- ing an illegal signal jammer duringhis commutes to preventnearbydrivers from using their cellphones. I can relate. I bet you can too. illegal tohavea cell- phone in yourhandwhile behind thewheel inCali- fornia andat least adozen other states.But that stoppeople from doing it. Not aday goesbywith- out encountering thought- less, self-entitled fools en- dangering themselves and those around themby talk- ing or textingwhile on the road.

on theauto industry to install signal-jamming technology in steeringwheels sodrivers (butnotpassengers) are unable to give in to the temptationof playingwith their gadgetswhile piloting steel at speeds topping 60miles an time to block phones DAVID LAZARUS Lazarus, Even lawyers fi- nalized the details of the deal, they still quite believe it would really hap- pen. The Saudi Arabia gov- ernment was set to give the San Francisco start-up $3.5 billion, an astronomical amount. The legal team had to double-check that it was even possible to send that much money in a single wire transfer. But on June1, 2016, theSaudiPublic Investment Fund sent Uber Technologies Inc. the cash in one lump sum still the largest single investment from a foreign government in a venture-backed start- up.

The sprawling conse- quences of that mega-deal have yet to fully unfold. Two years ago, themoney helped Uber settle its war with Didi Chuxing in China, fortified itspositionagainst rivalLyft Inc. and empowered then- Chief Executive Travis Kalanick ahead of a long, pitchedbattlewith investors who ultimately pushed him out.Now, thedeal is drawing Uber into a global reckoning over the business re- lationship with Saudi Ara- bia. Bloomberg has learned thatthroughdirectand indi- rect holdings, theSaudi gov- ernment owns more than of the ride-hailing com- pany. Its boardalso includes Saudi official Yasir Othman tor of the sover- eign wealth fund and an ally of Saudi Crown Prince Mo- hammed bin Salman, the chairman.

As the fall- out fromtheslayingofWash- ington Post columnist Ja- mal Khashoggi at the hands of Saudi agents roils Silicon Valley, there is arguably no companymore deeply inter- twined with Saudi Arabia For Uber, a delicate dance with Saudi money IN 2016, Uber received $3.5 billion from Saudi investment fund. Above, a woman waits for an Uber in Riyadh in 2015, when women allowed to drive. Carolyn Cole Los Angeles Times Slaying of journalist puts a harsh light on the stake in the company. By Eric Newcomer Cocktails, recliner seats and in-theater dining have become fixtures of luxury cinema in Los tonier communities. So, to appeal to wealthy locals and celebrities in the affluent Pacific Palisades thea- ter chainCinepolis had toup its gamewith the revival of the classicBayTheatre.

The new five-screen theater, which will have its official opening Friday, features new coastal- themed menu items, vegan options and an exclusive wine list. And to accommodate famous directors, the company evenmodified one of its auditoriums to house a rare 35mm film projector that can be used for private screenings. can wemake thismore said Luis Olloqui, chief executive of Cinepolis USA, whose headquarters are in Dallas. been serving the luxury market in U.S. since 2011, soweknowwhat theupscale 250-seat luxury theater is the latest exam- pleof anongoingpushbycinemaowners to create fanci- er experiences to draw discerning patrons.

Theaters have faced long-term attendance declines amid rising competitionfromstreamingandentertainmentoptions in thehome. The high-end services come cheap. The latest inL.A.billionaireRickCaruso’s recentlyopenedPalisadesVillage retail anddiningcom- plex, costmore than $10million to construct, executives said. The theater will charge up to $27 per adult ticket, making it one of the most expensive admissions in the nation. But analysts say the investment can pay off by en- couraging patrons to spend COMPANY TOWN THE REVIVED Bay Theatre, which opened in 1948 and later was a hardware store, is an anchor for Rick Palisades Village.

Photographs by Allen J. Schaben Los Angeles Times Bay Theatre remake is all about luxury Five-screen cinema in Pacific Palisades even has a 35mm projector to attract film buffs BARTENDER Latashia Parker mixes a drink for moviegoers at a soft opening last week for the Bay Theatre, which will have its official opening on Friday. By Ryan Faughnder.

Get access to

  • The largest online newspaper archive
  • 300+ newspapers from the 1700's - 2000's
  • Millions of additional pages added every month

Publisher Extra® Newspapers

  • Exclusive licensed content from premium publishers like the The Los Angeles Times
  • Archives through last month
  • Continually updated

About The Los Angeles Times Archive

Pages Available:
Years Available: