Category Archives: Neighboring Communities

These posts are about what’s going on in our neighboring communities.

South Koreans Eye L.A. Dodgers in $370 Million Minority Share Buy Bid

The Dodgers are in negotiations to sell a minority ownership share to a group of South Korean investors, it was reported today.

There is `”zero” chance the Dodgers’ owners would surrender control of the team in the deal, a person with direct knowledge of the discussions told press. That person added that the talks were “progressing” but otherwise declined to characterize how advanced the negotiations are.

None of the Dodgers’ five individual investors – controlling owner Mark Walter and partners Todd Boehly, Bobby Patton, Peter Guber and Magic Johnson –  would sell his share as part of the deal, two people familiar with the matter were reported as saying.

Guggenheim Baseball Management bought the Dodgers for $2.15 billion in 2012. It is possible the funds from the sale of a minority stake could help repay the $1.2 billion portion taken from Guggenheim Partners insurance funds controlled by Walter, or could provide additional capital for club operations, it was reported.

The Dodgers’ player payroll next season is an estimated $263 million,
according to Yahoo Sports – more than $50 million higher than the team with the second-highest payroll, the New York Yankees.

The Korea Joongang Daily, one of two South Korean newspapers that first reported the talks, said the investment group hoped to buy 20 percent of the Dodgers for about $370 million, which would value the Dodgers at $1.85 billion.

Boehly told the Los Angeles Times in December 2012 that Guggenheim Baseball valued the Dodgers at $3 billion. The Dodgers are “probably the most popular MLB club among Koreans,” the Joongang Daily said, largely because of the two star South Korean pitchers who have played for them, Chan Ho Park, who is retired, and Hyun-jin Ryu, who is on the team.

Any party joining the Dodgers’ ownership group would have to be approved by Major League Baseball. The league does not prohibit foreign investors.

VIDEO: LAPD Pacific Station seek electronic theft suspects

LAPD Pacific Station detectives are circulating video (below) of three suspects involved in the theft of electronics from mobile phone stores in Del Rey, Palms and South Los Angeles.

In each theft, one or two male suspects used cutters to sever security wires from display items, which were then stolen, according to the Los Angeles Police Department.

One theft occurred at a business in the 4300 block of Glencoe Avenue in Del Rey and another at a store in 8900 block of Venice Boulevard, near National Boulevard, in Palms, according to the Los Angeles Police Department. Police did not say when those crimes occurred.

The third happened on Dec. 10 at a business in the 1800 block of Slauson Avenue in South Los Angeles, according to the LAPD, which reported that in that case, one suspect stood watch at the shop’s entry door while the other took the electronics.

In the first two thefts, the suspects were seen getting into a waiting vehicle, police said.

Two of them were described as Latino — one is 5 feet 10 inches tall and 190 pounds and the other 5 feet 8 inches and 150 pounds. A third suspect was seen driving a tan 2000 Chevrolet Malibu, but no description of him was made available.

Anyone with information about the suspects was urged to contact burglary detectives at the LAPD’s Pacific Station at (310) 482-6367. After-hours calls can be made to (877) LAPD-24-7 and anonymous tips can be provided by calling Crime Stoppers at (800) 222-TIPS.


Google spends $120 million on 12 vacant acres in Playa Vista

Google Inc. was reported today to be making a bold move to expand in Southern California,  having spent nearly $120 million on 12 vacant acres next to a historic hangar where aviator Howard Hughes built his famous “Spruce Goose” airplane in a Playa Vista neighborhood near Marina del Rey.

The land is zoned for nearly 900,000 square feet of commercial space that could house offices or studios, vastly more room than Google now occupies in a handful of buildings in Los Angeles County, the Los Angeles Times reported.

Google is also expected to lease the Hughes hangar built in 1943,
according to The Times. The 319,000-square-foot building has recently housed soundstages for movie and television production.

“This is phenomenal news for the Westside and for the Los Angeles economy,” City Councilman Mike Bonin, who represents the Playa Vista area, said in remarks reported by The Times. “It really makes and brands Playa Vista as the tech and innovation capital of Los Angeles.”

Google, based in Mountain View, California., wouldn’t detail its plans.

But if Google is to develop the land as zoned, the Playa Vista site and the Hughes hangar could be home to as many as 6,000 well-paid, highly educated workers, according to The Times.

Internet firms such as Google commonly set aside about 200 square feet per employee.

Local entrepreneurs and investors told The Times they’re excited about the possibilities that a stepped-up Google presence could bring.

LAX police ask for public’s help after man disappears after getting off flight

Los Angeles police asked for the public’s help in finding a 70-year-old man who got off an Evergreen International Airlines flight and was last seen leaving Los Angeles International Airport’s customs area.

Walter Wenko is a white man with black and white hair and blue eyes. He is 6 feet tall and weighs 130 pounds.

Anyone with information regarding this missing man is urged to contact authorities.
Anyone with information regarding this missing man is urged to contact authorities.

Wenko has medical issues and his family is concerned that he may need medical attention. Wenko was last seen Monday.

Anyone with information about his whereabouts was asked to call the LAPD’s Missing Person Unit at (213) 972-7859.