Wednesday, January 15, 2014
JP MORGAN-LOS ANGELES
LOS ANGELES — A Los Angeles councilman proposed Wednesday that the nation's second-largest city consider ending tens of millions of dollars of financial ties with troubled JP Morgan Chase & Co. A motion introduced by Democrat Gil Cedillo seeks a review of city business with the nation's largest bank, as well as an analysis of legal options to end those contracts. It said a city retirement system holds over $100 million in JP Morgan stock and investments, and the city has a line of credit with the bank. By Michael R. Blood. SENT: 520 words, photos.
SAN FRANCISCO — Yahoo CEO Marissa Mayer is cutting loose her top lieutenant in a possible sign that the Internet company's efforts to revive its long-slumping advertising sales aren't paying off. Wednesday's surprise announcement of the departure of Yahoo's chief operating officer, Henrique de Castro, represents a setback for Mayer, who signed him to a $58 million deal just 15 months ago to help her lure more advertisers to a company that has been struggling to compete against Google Inc. and Facebook Inc. in the race for online marketing dollars. By Michael Liedtke. SENT: 500 words, photo.
LOS ANGELES — An appellate court on Wednesday unanimously upheld the involuntary manslaughter conviction of Michael Jackson's doctor, determining there was substantial evidence of his guilt presented at trial. The ruling by the California 2nd District Court of Appeal came less than three months after former cardiologist Conrad Murray was released. He served two years in jail for causing Jackson's 2009 death. SENT: 450 words, photo.
LOS ANGELES — Pitcher Clayton Kershaw agreed Wednesday to a $215 million, seven-year contract with the Los Angeles Dodgers, a person familiar with the negotiations told The Associated Press, a deal that makes the two-time Cy Young Award winner baseball's first player with a $30 million average salary. The person spoke on condition of anonymity because the agreement had not yet been announced. Kershaw receives the most lucrative deal for a pitcher, breaking the mark of $180 million set by Justin Verlander last March for his seven-year contract with Detroit. By Beth Harris. SENT: 565 words, photo.
LOS ANGELES — Retired NBA star Robert Horry wasn't hurt after a car he was driving hit a motorcycle on a Los Angeles freeway and left the rider hospitalized. The California Highway Patrol said Wednesday that Horry's 2014 Infiniti collided with a 2013 Yamaha motorcycle driven by Xerxes Baldonasa of Long Beach on Tuesday afternoon on the 105 Freeway near Inglewood. SENT: 200 words.