CALIFORNIA

Land deal advisor resigns from Calpers

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The real estate investment manager who led the California Public Employees' Retirement System, the nation's largest pension fund, into a money-losing land venture has resigned as an adviser to the fund, a spokeswoman for MacFarlane Partners said on Saturday.

Sony looks for box office hit with This Is It

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Heading toward its October 28 release, Michael Jackson movie This Is It looks like a box office winner for Sony's Columbia Pictures movie studio with one estimate saying it could make more than $600 million worldwide in a limited two-week run.
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EXCLUSIVE: Former Calpers CIO says did right thing

Russell Read does not regret pushing Calpers, the biggest U.S. public pension fund, into investment frontiers that consultants avoid -- and he sees the public pension funds at a crossroads on what to do next.
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Michael Jackson fans say film covers up grim truth

A small group of Michael Jackson's dedicated fans have started an awareness campaign surrounding the upcoming movie This is It, saying it covers up the grim reality of the dead pop star's final days.
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Long lines as Microsoft opens retail store

The idea that hundreds of people would line up outside anything to do with Microsoft would have been far-fetched only a few years ago -- but on Thursday that's what happened when the software giant opened its first retail store in Scottsdale, Arizona.
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Tests show flu spreads from schools

Results of tens of thousands of flu tests indicate that the pandemic H1N1 virus is spreading from school-aged children to the rest of the U.S. population, makers of the tests say.
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Fewer Short Sales Come Up Short

While obstacles to short sales remain, real estate practitioners say the process is becoming more efficient. Rather than waiting six months or more to push through a deal, agents say banks are more willing to negotiate prices up front.
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Italy probes Kill Berlusconi Facebook pages

Italian officials have ordered an investigation into Facebook groups called Let's Kill Berlusconi, saying they incite hatred and might lead to a real rather than virtual attack on the prime minister.
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EBay holiday outlook disappoints, shares drop

EBay Inc on Wednesday forecast fourth-quarter profit and revenue at the low end of analysts' estimates, disappointing investors' hopes of a substantial turnaround at its main marketplaces division during the crucial holiday season.
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Suntech focuses on utility market with new system

Chinese solar panel maker Suntech Power Holdings Co Ltd (STP.N) said on Wednesday it will begin shipping a new solar system for large-sized projects next year, betting that the U.S. solar utility market will heat up.
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Madoff shared prison cell with drug dealer

Epic swindler Bernard Madoff shared a prison cell with a 21-year-old drug dealer, and other fellow inmates included a spy and a mob boss when he was sent to prison in July, according to court documents.
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Mortgage applications drop again as rates climb

U.S. mortgage applications fell for a second straight week, led by a plunge in demand for home refinancing loans as interest rates climbed, data from an industry group showed on Wednesday.
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Fed's Yellen: No tightening in next several months

The time for the U.S. Federal Reserve to start pulling back its extensive support for the economy is not close at hand and policymakers have time to decide what sequence of steps they will take, San Francisco Fed President Janet Yellen said on Tuesday.
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Madoff investors sue KPMG and major banks

Some investors defrauded by epic swindler Bernard Madoff on Tuesday added accounting firm KPMG , JPMorgan Chase and Bank of New York Mellon to a civil lawsuit in a New York court, lawyer Joseph Cotchett said.
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California sues State Street over pension funds

California's attorney general sued State Street Corp on Tuesday for committing an unconscionable fraud against the state's largest pension funds and is seeking to recover more than $200 million in alleged illegal overcharges and penalties.
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Corinthian to buy Heald Capital for $395 mln

Education provider Corinthian Colleges Inc said it agreed to acquire Heald Capital, the parent company of Heald Colleges, in a cash deal valued at about $395 million, including debt.
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Honda eyes electric car launch in major markets

The head of Honda Motor Co said he would consider launching electric cars in the United States, Europe and Japan, a sign Japan's No. 2 automaker is changing its strategy for the next generation of fuel-efficient vehicles.
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Holiday miracle needed for turnaround at U.S. ports

Foreman Danny Miranda remembers the days when the Los Angeles and Long Beach, California, ports were so jammed that ships waited in line to unload. Now the lingering recession has longshoremen waiting in line for work.

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