Recession a Long-Term Bummer for SoCal, Dude

John Atterberry had worked with Jessica Simpson, Michael Jackson

(NEWSER) - The record executive who was critically wounded in Friday's Hollywood shooting rampage died last night, the AP reports. John Atterberry, 40, had been a vice president of Death Row Records, then home to Tupac Shakur and Dr. Dre, before going on to work with artists including Jessica Simpson, Christina Aguilera, and Michael Jackson, the Los Angeles Times reports. More»

Land behind icon will be off-limits to development

(NEWSER) - An environmental group has a deal in the works to protect the land around the “Hollywood” sign from being turned into luxury homes, and will cover up the iconic sign Thursday to draw attention to the scheme. "The Hollywood sign cannot be separated from its untrammeled setting of hiking trails and wildlife corridors," says the CEO of Tiffany & Co., which donated $1 million towards the $12 million price tag. More»

(NEWSER) - After joining other major banks in snubbing cash-strapped California last month, JPMorgan Chase has changed tack and is lending the state $1.5 billion to end its IOU program a month early. The short-term loan will enable California to start redeeming on Sept. 4 the IOUs it has been using since July to pay vendors and creditors, the LA Times reports. More»

'We really went nowhere for almost 10 years,' says economist

(NEWSER) - The Bush years have not been good ones for the economy, the Washington Post reports, based on an analysis of economic data and discussions with economists of all stripes. Job growth for Bush’s tenure amounts to just 2%, the smallest 8-year gain on record, and GDP grew at its slowest pace since the Truman administration. “We really went nowhere for almost 10 years,” said one Moody’s economist. More»

Top rental fetches $150K per month

(NEWSER) - US real estate is hurting, but the top price for a beachfront summer rental in Malibu hit $150,000 this year. The area is flush with homes valued at or above $10 million—a bracket unaffected by the housing slump. And Tinseltown's elite is happy to pay. "Recession? What recession?" one Malibu real estate agent asked the Los Angeles Times. More»