Advice to California's GOP: Leave — or better yet, change

Memo to the California GOP:

Rough couple of weeks, huh?

First you found out that the number of registered Republicans in California has dipped below 30%, which means we are fast approaching the day when the entire state membership can fit into two golf carts.

To make matters worse, of the 1 million people who used a new online voter registration system this election cycle, only 20% registered as Republicans. And 60% of those who registered were under 35, which means your future's not looking great.

Then the dominoes really started to fall.

Gov. Brown's Proposition 30, the first general, statewide tax hike in two decades, passed so easily that the ghost of Howard Jarvis threw himself in front of a truck.

Proposition 32, an all-out attempt to defang public employee unions, got pummeled despite an infusion of last-minute anti-labor cash from Arizona.

What could be worse? I'll tell you what. In the state Legislature, Democrats won supermajorities in both houses. Do you know what that means? It's like handing your teenager a credit card, a checkbook and the car keys so he can drive to an all-night orgy.

Meanwhile, on the national front, two states said yes to recreational marijuana and three states said yes to same-sex marriage. And Mitt Romney proved that when your only loyal supporters are aging white men who still drive Buicks and watch "Matlock" reruns — in a country with an ever more diverse population — you're cooked.

It was a wipeout, a blitz, a disaster.

So now what?

Glad you asked, because as it happens, I've got some advice for the leaders and members of the California's shrinking Grand Old Party.

Your first option is to cut and run. Frankly, I regularly hear from Republicans who so despise California and everything it stands for, I'm surprised they keep subjecting themselves to so much misery. Wouldn't it be better to sell everything, pack up the station wagon and move to Georgia or Kentucky? They think, act and vote red in those states, and they probably hate California at least as much as you do.

But here's another option. You could sit tight here in the Golden State, wait for the Democrats to screw things up in Sacramento even more than they already have, and then raise your hand when the situation cries out for the voice of fiscal prudence.

The first thing you're going to have to do, though, is remake the GOP. And by that I mean that you have to get rid of the Neanderthals who dominate the party. Then you need to start grooming and promoting some common-sense fiscal moderates, provided you can locate any.

What do I mean by that?

If someone believes Barack Obama is a socialist, Communist, Marxist, Muslim, radical, black liberation theologian, non-citizen, illegitimate president or Manchurian Candidate, forget about him. He may have a shot at a career in talk radio, but he's not going to make it in California politics.

And you're not going to breathe new life into the GOP with someone who believes the answer to the state's problems is to deport a couple million Latinos, unless they're working in the garden at extremely low rates.

You should also nix anyone who believes that gay people have chosen a "lifestyle" in the way they might choose toothpaste or a pair of shoes, and can be "converted" with enough hard work and Bible study.

I know, I know. We're really thinning the field here. And I'm not even done.

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War photography exhibit debuts in Houston museum

HOUSTON (AP) — It was a moment Nina Berman did not expect to capture when she entered an Illinois wedding studio in 2006. She knew Tyler Ziegel had been horribly injured, his face mutilated beyond recognition by a suicide bombing in the Iraq War. She knew he was marrying his pretty high school sweetheart, perfect in a white, voluminous dress.

It was their expressions that were surprising.

"People don't think this war has any impact on Americans? Well here it is," Berman says of the image of a somber bride staring blankly, unsmiling at the camera, her war-ravaged groom alongside her, his head down.

"This was even more shocking because we're used to this kind of over-the-top joy that feels a little put on, and then you see this picture where they look like survivors of something really serious," Berman added.

The photograph that won a first place prize in the World Press Photos Award contest will stand out from other battlefield images in an exhibit "WAR/PHOTOGRAPHY: Images of Armed Conflict and Its Aftermath" that debuts Sunday — Veterans Day — in the Houston Museum of Fine Arts. From there, the exhibit will travel to The Annenberg Space for Photography in Los Angeles, the Corcoran Gallery of Art in Washington and The Brooklyn Museum in Brooklyn, N.Y.

The exhibit was painstakingly built by co-curators Anne Wilkes Tucker and Will Michels after the museum purchased a print of the famous picture of the raising of the flag at Iwo Jima, taken Feb. 23, 1945, by Associated Press photographer Joe Rosenthal. The curators decided the museum didn't have enough conflict photos, Tucker said, and in 2004, the pair began traveling around the country and the world in search of pictures.

Over nearly eight years and after viewing more than 1 million pictures, Tucker and Michels created an exhibit that includes 480 objects, including photo albums, original magazines and old cameras, by 280 photographers from 26 countries.

Some are well-known — such as the Rosenthal's picture and another AP photograph, of a naked girl running from a napalm attack during the Vietnam War taken in 1972 by Huynh Cong "Nick" Ut. Others, such as the Incinerated Iraqi, of a man's burned body seen through the shattered windshield of his car, will be new to most viewers.

"The point of all the photographs is that when a conflict occurs, it lingers," Tucker said.

The pictures hang on stark gray walls, and some are in small rooms with warning signs at the entrance designed to allow visitors to decide whether they want to view images that can be brutal in their honesty.

"It's something that we did to that man. Americans did it, we did it intentionally and it's a haunting picture," Michels said of the image of the burned Iraqi that hangs inside one of the rooms.

In some images, such as Don McCullin's picture of a U.S. Marine throwing a grenade at a North Vietnamese soldier in Hue, it is clear the photographer was in danger when immortalizing the moment. Looking at his image, McCullin recalled deciding to travel to Hue instead of Khe Sahn, as he had initially planned.

"It was the best decision I ever made," he said, smiling slightly as he looked at the picture, explaining that he took a risk by standing behind the Marine.

"This hand took a bullet, shattered it. It looked like a cauliflower," he said, pointing to the still-upraised hand that threw the grenade. "So the people he was trying to kill were trying to kill him."

McCullin, who worked at that time for The Sunday Times in London, has covered conflicts all over the world, from Lebanon and Israel to Biafra. Now 77, McCullin says he wonders, still, whether the hundreds of photos he's taken have been worthwhile. At times, he said, he lost faith in what he was doing because when one war ends, another begins.

Yet he believes journalists and photographers must never stop telling about the "waste of man in war."

"After seeing so much of it, I'm tired of thinking, 'Why aren't the people who rule our lives ... getting it?' " McCullin said, adding that he'd like to drag them all into the exhibit for an hour.

Berman didn't see the conflicts unfold. Instead, she waited for the wounded to come home, seeking to tell a story about war's aftermath.

Her project on the wounded developed in 2003. The Iraq War was at its height, and there was still no database, she said, to find names of wounded warriors returning home. So she scoured local newspapers on the Internet.

In 2004 she published a book called "Purple Hearts" that includes photographs taken over nine months of 20 different people. All were photographed at home, not in hospitals where, she said, "there's this expectation that this will all work out fine."

The curators, meanwhile, chose to tell the story objectively — refusing through the images they chose or the exhibit they prepared to take a pro- or anti-war stance, a decision that has invited criticism and sparked debate.

And maybe, that is the point.

___

Plushnick-Masti can be followed on Twitter at https://twitter.com/RamitMastiAP

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Recipes for Health: Sweet Potato and Apple Kugel — Recipes for Health

Andrew Scrivani for The New York Times

I’ve looked at a number of sweet potato kugel recipes, and experimented with this one a few times until I was satisfied with it. The trick is to bake the kugel long enough so that the sweet potato softens properly without the top drying out and browning too much. I cover the kugel during the first 45 minutes of baking to prevent this. After you uncover it, it’s important to baste the top every 5 to 10 minutes with melted butter.

 

4 eggs

Salt to taste

2 large sweet potatoes (1 3/4 to 2 pounds total), peeled and grated

2 slightly tart apples, like Gala or Braeburn, peeled, cored and grated

1 tablespoon fresh lime juice

1 tablespoon mild honey or agave nectar

3 to 4 tablespoons melted unsalted butter, as needed

 

1. Heat the oven to 375 degrees. Butter a 2-quart baking dish.

2. In a large mixing bowl, beat the eggs with salt to taste (I suggest about 1/2 teaspoon). Add the grated sweet potatoes and the apples. Pour the lime juice over the grated apples and sweet potatoes, then stir everything together. Combine the honey and 2 tablespoons of the melted butter and stir together, then toss with the sweet potato mixture and combine well.

3. Transfer the mixture to the prepared baking dish. Cover the dish tightly with foil and place in the oven. Bake 45 minutes. Remove the foil and brush the top of the kugel with melted butter. Return to the oven and bake for another 15 to 20 minutes or longer, brushing every 5 minutes with butter. The kugel is ready when the edges are browned, the top is browned in spots and the mixture is set. Remove from the heat and allow to cool for 10 to 15 minutes before serving.

Yield: 8 servings.

Advance preparation: You can make this a day ahead and reheat in a medium oven.

Nutritional information per serving (6 servings): 187 calories; 7 grams fat; 4 grams saturated fat; 1 gram polyunsaturated fat; 2 grams monounsaturated fat; 104 milligrams cholesterol; 28 grams carbohydrates; 4 grams dietary fiber; 91 milligrams sodium (does not include salt to taste); 5 grams protein

Martha Rose Shulman is the author of “The Very Best of Recipes for Health.”

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Canada looks to lure energy workers from the U.S.

EDMONTON, Canada — With a daughter to feed, no job and $200 in the bank, Detroit pipe fitter Scott Zarembski boarded a plane on a one-way ticket to this industrial capital city.

He'd heard there was work in western Canada. Turns out he'd heard right. Within days he was wearing a hard hat at a Shell oil refinery 15 miles away in Fort Saskatchewan. Within six months he had earned almost $50,000. That was 2009. And he's still there.

"If you want to work, you can work," said Zarembski, 45. "And it's just getting started."

U.S. workers, Canada wants you.

Here in the western province of Alberta, energy companies are racing to tap the region's vast deposits of oil sands. Canada is looking to double production by the end of the decade. To do so it will have to lure more workers — tens of thousands of them — to this cold and sparsely populated place. The weak U.S. recovery is giving them a big assist.

Canadian employers are swarming U.S. job fairs, advertising on radio and YouTube and using headhunters to lure out-of-work Americans north. California, with its 10.2% unemployment rate, has become a prime target. Canadian recruiters are headed to a job fair in the Coachella Valley next month to woo construction workers idled by the housing meltdown.

The Great White North might seem a tough sell with winter coming on. But the Canadians have honed their sales pitch: free universal healthcare, good pay, quality schools, retention bonuses and steady work.

"California has a lot of workers and we hope they come up," said Mike Wo, executive director of the Edmonton Economic Development Corp.

The U.S. isn't the only place Canada is looking for labor. In Alberta, which is expecting a shortage of 114,000 skilled workers by 2021, provincial officials have been courting English-speaking tradespeople from Ireland, Scotland and other European nations. Immigrants from the Philippines, India and Africa have found work in services. But some employers prefer Americans because they adapt quickly, come from a similar culture and can visit their homes more easily.

Since 2010, about 35,000 U.S. workers a year have been issued work permits, according to Canadian immigration statistics. That's up 13% from earlier in the decade. And that figure is expected to grow as provinces continue to loosen requirements for temporary foreign workers.

Rudolf Kischer, a Vancouver-based immigration attorney, said his firm can hardly keep up with the processing of work permits for employers hiring U.S. help.

"We're the busiest we've ever been," he said.

Many of those workers are heading to where the labor market is hottest: Edmonton.

One of the fastest growing cities in Canada, this capital city owes its prosperity to the oil sands. Lying a few hours to the north, the sands are a mixture of sand, clay, water and bitumen — a heavy, black, viscous petroleum — that must be mined and processed to extract the oil. Alberta's massive deposits, which rival the conventional crude oil reserves of Venezuela and Saudi Arabia, are being developed at breakneck speed to meet the growing global demand for energy.

Edmonton has become a staging ground for oil companies that include Canada's Suncor Energy Inc., Shell Canada Ltd. and Chevron Canada Ltd. The energy sector has in turn boosted industries such as manufacturing, home building and retailing.

With a population of about 812,000, Edmonton looks a lot like many American cities. There are large strip malls anchored by U.S. retailers such as Costco and Home Depot, and ubiquitous coffee shops — except here Tim Horton's doughnut shops outnumber Starbucks 3 to 1.

The biggest difference: The unemployment rate here is 4.5%, and "We're Hiring" signs are posted in almost every window.

Moving to a city where the economy is firing on all cylinders was a sharp turn from struggling Motor City, Zarembski said.

Fat paychecks allowed him to ditch his battered Pontiac Grand Am for a late-model Dodge pickup truck. He has vacationed in the Dominican Republic and taken his 14-year-old daughter to Universal Studios in Florida. He's planning to buy a house in Edmonton's western suburbs soon.

With so much work available, Zarembski said, trade workers can afford to pick and choose. Jobs near Fort McMurray, a remote town six hours north, are the best-paid; a welder can make up $37 an hour. (At present Canadian and U.S. dollars are almost equivalent in value.) But laborers must stay in barracks-style camps, which energy companies have upgraded to woo them. The best ones offer private rooms with flat-screen TVs, gyms, prime dining and wireless Internet access.

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Bargains disappearing for distressed properties, Zillow says

Bargains on bank-owned homes are quickly vanishing in the country's most competitive markets.

Since the start of the mortgage meltdown, repossessed homes have been considered the discount aisles of real estate. Now competition among investors and first-time home buyers for affordable digs is making those distressed properties less affordable, a new analysis by Zillow.com shows.

"They will get somewhat of a deal, depending on the market," Zillow chief economist Stan Humphries said. "But, just generally, you are going to get less of a deal today than you would have gotten in late 2009 or early 2010."

Test your knowledge of business news

The shrinking discounts underscore how real estate has recovered this year as low interest rates and high affordability have sucked buyers back into the market. The number of for-sale homes has also fallen to levels not seen since the housing boom as foreclosures ease and homeowners — many who still owe more on their properties than they are worth — hold off on listing their houses for sale.

Zillow looked at sale prices of bank-owned homes and used a model to determine what that property would have brought if it had not been sold by a bank. In Las Vegas and Phoenix, for instance, a foreclosed home in September sold for the same price as a regular property.

Discounts were also marginal on bank-owned homes in the Inland Empire and the Sacramento region, 1.8% and 0.7%, respectively, according to the analysis. Both of these areas have grown increasingly competitive after being savaged by the housing bust. In the Los Angeles area, the foreclosure discount was 4.2% in September, Zillow said.

Certain Midwest and East Coast cities appeared to have the biggest foreclosure discounts. The Pittsburgh area had a discount of 27.4%, with Cleveland at 25.8%, Cincinnati 20.2% and Baltimore 20%.

Analysts figured the national foreclosure discount at just 7.7%. That's a big difference from the dog days of the housing bust, when people snapping up foreclosures could expect a discount of 23.7%, Zillow said.

Home shoppers looking for dime-store values now face a frustrating hunt. Gary K. Kruger, a real estate agent in Hemet, has seen buyers consistently bid on homes above the asking price and still struggle to make deals. One of his clients, a first-time buyer looking for a home in Vista, has bid on three properties — one a regular sale, one a bank-owned home and one a short sale — and lost each time.

Properties that are good for rentals or first-time buyers, along with properties priced in the lower-end of the move-up market, are "very, very hot," Kruger said.

"I have not had a successful person purchase a foreclosed home that was not an investor for months," he said. "Things are selling so quickly."

The story is similar in the Las Vegas region, said Keith Lynam, a real estate agent and chairman of the Nevada Assn. of Realtors' legislative committee. The number of foreclosed homes on the market in the Las Vegas area has dwindled to less than 300, compared with about 7,000 at its peak, Lynam said.

One of his clients, a potential buyer with a sizable down payment, has made half a dozen unsuccessful offers in the last six months.

"There is just zero inventory," Lynam said.

Experts are also revisiting the notion that foreclosed homes really drag down property values. A working paper by the Federal Reserve Bank of Atlanta published in August found that although the homes of troubled borrowers did drag down values of surrounding homes, the effects were small.

That paper also found that the worst declines occurred before the home was repossessed, indicating that the declines stemmed from people abandoning their homes or letting them fall into disrepair.

Sean O'Toole, a real estate investor and founder of the website ForeclosureRadar.com, agreed with the Zillow analysis. Previous studies failed to take into account the nature of most foreclosures and their geography, he said. Typically, and particularly during the last five years, foreclosures have been concentrated in more traditionally affordable areas. So comparing the median home price of all foreclosed homes during the bust with the median home price of non-foreclosed homes results in an apple-to-oranges comparison, he said.

"The results that Zillow got make perfect sense to me, because there is actually more demand for REO and foreclosures, because people believe they are a deal," O'Toole said, using shorthand for the term "real estate owned," which is how banks refer to the properties on their books. "There is more demand for those."

Michael Novak-Smith, a real estate agent in the Riverside area who specializes in listing foreclosures for banks, said the market has reached a frenzy few would have expected so soon after the bust. One bank-owned home he listed about two weeks ago in Fontana for $145,000 attracted 157 offers. The seller took an all-cash offer.

"That is really telling, because a lot of these buyers think they'll just go out and get a repo," Novak-Smith said. "But buyers need to come in strong with their best offers, because you will get beat right out. An entry-level house with 157 offers? That's just mind-boggling to me."

alejandro.lazo@latimes.com

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Spotify to raise $100 million at $3 billion valuation – report

(Reuters) – Spotify is in the middle of a $ 100 million financing round that could value the music streaming company at just over $ 3 billion, the Wall Street Journal reported citing sources.

The Journal said Spotify would raise the fresh capital from multiple investors including Goldman Sachs. The WSJ report did not name any other investors.

Spotify has raised capital from outside investors several times since it set up shop in 2006, and was earlier reported to have been looking to secure a capital boost of about $ 200 million, at a valuation of about $ 4 billion.

Kleiner Perkins Caufield & Byers, Accel Partners and others have invested about $ 189 million in the company in its prior financing rounds.

The company has over 15 million active users and 4 million paying subscribers, for its on-demand service, which offers unlimited music streaming of some 18 million tracks.

(Reporting by Himank Sharma in Bangalore)

Internet News Headlines – Yahoo! News

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Rap -reality TV star to join Hawks broadcast

ATLANTA (AP) — T.I. added a new line to his expanding resume — broadcaster.

The Grammy Award-winning rapper and reality television joined the Atlanta Hawks' broadcast team Friday night as they hosted the NBA champion Miami Heat.

"This was a phenomenal opportunity," said T.I., whose actual name is Clifford Harris. "I really enjoyed myself. I look forward to the next time and doing an entire game."

After several bouts with the law, including a stint in federal prison on weapons charges, the Atlanta native has become active in the community and frequently attends Hawks' games. He sat at courtside between play-by-play man Bob Rathbun and analyst Duane Ferrell.

"They did all the heavy lifting," said the rapper, who was wearing several gold chains and an old-school Hawks cap. "I just chimed in here and there. I have a close relationship, both personally and professionally, with a lot of the guys out there."

Asked if he had any desire to buy a piece of the Hawks, following the path set by hip-hop star and Brooklyn Nets part-owner Jay-Z, T.I. just smiled.

"I would love to be a part of the organization in whatever way possible if I can make a significant contribution," he said. "But there's no pressure. Baby steps."

T.I. gave a hint of new album, "Trouble Man," which is scheduled for release on Dec. 18. It includes collaborations with Andre 3000, Cee Lo Green and Pink.

"I'm extremely proud of it," he said. "I put a lot of work and energy into it. I think it will be the classic album the fans have been wanting me to make. ... I wanted to mix it up. I wanted to raise the bar on what's considered stellar material."

He also stars with his wife in "T.I. and Tiny: The Family Hustle," a reality show on VH1. Camera crews from the show trailed him around Philips Arena.

T.I. is hopeful about the Hawks, who overhauled their roster during under offseason in hopes of breaking a history of postseason failures.

"This is a new team, a young team," he said. "They have a lot of heart, a lot of desire, a lot of talent that can take them deep in the playoffs."

As for his own athletic prowess, T.I. was frank about his abilities.

There was none of the boastfulness one might hear on his songs.

"I have no organized sports background," he said. "I've done a lot of watching. I'm a professional spectator. I can observe like no one's business."

___

Follow Paul Newberry on Twitter at www.twitter.com/pnewberry1963

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FEMA Chief Tours Damaged NYU Langone Medical Center

The federal government’s emergency management chief trudged through darkened subterranean hallways covered with silt and muddy water Friday, as he toured one of New York City’s top academic medical centers in the aftermath of Hurricane Sandy. The basement of the complex, NYU Langone Medical Center in Manhattan, smelled like the hold of a ship — a mixture of diesel oil and water.

“You’re going to deal with the FUD — fear, uncertainty and doubt,” W. Craig Fugate, administrator of the Federal Emergency Management Agency, told NYU Langone officials afterward, as they retreated to a conference room to catalog the losses. “Don’t look at this. Think about what’s next.”

NYU Langone, with its combination of clinical, research and academic facilities, may have been the New York City hospital that was most devastated by Hurricane Sandy. What’s next is a spectacularly expensive cleanup.

Dr. Robert I. Grossman, dean and chief executive of NYU Langone, looking pale and weary — as if he were, indeed, struggling to hold back the FUD — estimated that the storm could cost the hospital $700 million to $1 billion. His estimate included cleanup, rebuilding, lost revenue, interrupted research projects and the cost of paying employees not to work.

As the hurricane raged, the East River filled the basement of the medical center, at 32nd Street and First Avenue, knocked out emergency power and necessitated the evacuation of more than 300 patients over 13 hours in raging wind, rain and darkness. It disrupted medical school classes and shut down high-level research projects operating with federal grants.

Mr. Fugate arrived to inspect the damage and help plot the institution’s recovery, the advance guard of what aides said would be a hospital task force. He was brought in by Senator Charles E. Schumer of New York, who kept saying that there was nothing like seeing the damage firsthand to understand how profound it really was.

“What was that movie — ‘Contagion?’ ” Mr. Schumer said, marveling at the hellish scene.

NYU Langone’s patients, a major source of revenue, have been scattered to other hospitals, creating a risk that they may never return. Dr. Grossman said he was counting on those patients’ loyalty.

John Sexton, president of New York University, which includes NYU Langone, and who also met with Mr. Fugate, raised fears that researchers might be lured away to other institutions because their grants were ticking away on deadline or because they must publish or perish. Outside the hospital, tanks of liquid nitrogen testified to the efforts to keep research materials from spoiling.

In inky blackness, the group stood at the brink of the animal section of the Smilow Research Center, where rodents for experiments had been kept, but they did not go inside. On Nov. 3, a memo sent to NYU Langone researchers said the animal section, or vivarium, was “completely unrecoverable.”

Dr. Grossman said that scientists had managed to save some rodents by raising their cages to higher ground.

A modernized lecture hall with raked seats used by medical students had been filled “like a bathtub,” he said, though it was dry on Friday. The library, he said, “is basically gone.”

Four magnetic resonance scanners, a linear accelerator and gamma knife surgery equipment, kept in the basement, were now worthless. Dr. Grossman said that in the future, he wanted to move such equipment, which is very heavy, to higher floors.

Electronic medical records were protected by a server in New Jersey, he said.

Richard Cohen, vice president for facilities operations, took the group past piles of sandbags and a welded steel door that had been blown out by the force of the flood. “That door was put in around 1959 to 1960, when doors were really doors,” Mr. Cohen said. “And this thing is completely torsionally twisted. I’ve never seen anything like that.”

Walking to the back of the hospital, Mr. Cohen used a loading dock as a measuring stick to estimate that the surge had risen to 14 ½ feet. “We were prepared for 12 feet, no problem,” Dr. Grossman said.

Dr. Grossman said it would take a couple of more weeks of assessing the damage to determine when the hospital could reopen. Outpatient business is already returning. Research and some inpatient services will come next.

Mr. Fugate said his agency would help cover the uninsured losses, and urged NYU Langone officials to move ahead.

At this point, Dr. Grossman said, he could only theorize as to why the generators had shut down. All but one generator is on a high floor, but the fuel tanks are in the basement. The flood, he said, was registered by the liquid sensors on the tanks, which then did what they were supposed to do in the event, for instance, of an oil leak. They shut down the fuel to the generators.

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Bargains disappearing for distressed properties, Zillow says

Bargains on bank-owned homes are quickly vanishing in the country's most competitive markets.

Since the start of the mortgage meltdown, repossessed homes have been considered the discount aisles of real estate. Now competition among investors and first-time home buyers for affordable digs is making those distressed properties less affordable, a new analysis by Zillow.com shows.

"They will get somewhat of a deal, depending on the market," Zillow chief economist Stan Humphries said. "But, just generally, you are going to get less of a deal today than you would have gotten in late 2009 or early 2010."

Test your knowledge of business news

The shrinking discounts underscore how real estate has recovered this year as low interest rates and high affordability have sucked buyers back into the market. The number of for-sale homes has also fallen to levels not seen since the housing boom as foreclosures ease and homeowners — many who still owe more on their properties than they are worth — hold off on listing their houses for sale.

Zillow looked at sale prices of bank-owned homes and used a model to determine what that property would have brought if it had not been sold by a bank. In Las Vegas and Phoenix, for instance, a foreclosed home in September sold for the same price as a regular property.

Discounts were also marginal on bank-owned homes in the Inland Empire and the Sacramento region, 1.8% and 0.7%, respectively, according to the analysis. Both of these areas have grown increasingly competitive after being savaged by the housing bust. In the Los Angeles area, the foreclosure discount was 4.2% in September, Zillow said.

Certain Midwest and East Coast cities appeared to have the biggest foreclosure discounts. The Pittsburgh area had a discount of 27.4%, with Cleveland at 25.8%, Cincinnati 20.2% and Baltimore 20%.

Analysts figured the national foreclosure discount at just 7.7%. That's a big difference from the dog days of the housing bust, when people snapping up foreclosures could expect a discount of 23.7%, Zillow said.

Home shoppers looking for dime-store values now face a frustrating hunt. Gary K. Kruger, a real estate agent in Hemet, has seen buyers consistently bid on homes above the asking price and still struggle to make deals. One of his clients, a first-time buyer looking for a home in Vista, has bid on three properties — one a regular sale, one a bank-owned home and one a short sale — and lost each time.

Properties that are good for rentals or first-time buyers, along with properties priced in the lower-end of the move-up market, are "very, very hot," Kruger said.

"I have not had a successful person purchase a foreclosed home that was not an investor for months," he said. "Things are selling so quickly."

The story is similar in the Las Vegas region, said Keith Lynam, a real estate agent and chairman of the Nevada Assn. of Realtors' legislative committee. The number of foreclosed homes on the market in the Las Vegas area has dwindled to less than 300, compared with about 7,000 at its peak, Lynam said.

One of his clients, a potential buyer with a sizable down payment, has made half a dozen unsuccessful offers in the last six months.

"There is just zero inventory," Lynam said.

Experts are also revisiting the notion that foreclosed homes really drag down property values. A working paper by the Federal Reserve Bank of Atlanta published in August found that although the homes of troubled borrowers did drag down values of surrounding homes, the effects were small.

That paper also found that the worst declines occurred before the home was repossessed, indicating that the declines stemmed from people abandoning their homes or letting them fall into disrepair.

Sean O'Toole, a real estate investor and founder of the website ForeclosureRadar.com, agreed with the Zillow analysis. Previous studies failed to take into account the nature of most foreclosures and their geography, he said. Typically, and particularly during the last five years, foreclosures have been concentrated in more traditionally affordable areas. So comparing the median home price of all foreclosed homes during the bust with the median home price of non-foreclosed homes results in an apple-to-oranges comparison, he said.

"The results that Zillow got make perfect sense to me, because there is actually more demand for REO and foreclosures, because people believe they are a deal," O'Toole said, using shorthand for the term "real estate owned," which is how banks refer to the properties on their books. "There is more demand for those."

Michael Novak-Smith, a real estate agent in the Riverside area who specializes in listing foreclosures for banks, said the market has reached a frenzy few would have expected so soon after the bust. One bank-owned home he listed about two weeks ago in Fontana for $145,000 attracted 157 offers. The seller took an all-cash offer.

"That is really telling, because a lot of these buyers think they'll just go out and get a repo," Novak-Smith said. "But buyers need to come in strong with their best offers, because you will get beat right out. An entry-level house with 157 offers? That's just mind-boggling to me."

alejandro.lazo@latimes.com

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Prop. 30 win gives Jerry Brown major boost

SACRAMENTO — Just a few weeks ago, as support for Gov. Jerry Brown's tax initiative appeared to falter, some of his fellow Democrats were saying privately that he might be serving his last term.

None of them are saying that now.

Brown has emerged from his successful tax fight with replenished political capital, his experience and instinct trumping conventional wisdom.

"His standing in the Capitol is probably higher than it has ever been," said Tony Quinn, co-editor of the California Target Book, which monitors political races. "Now we have a strong governor.... He is going to be able to get his way a lot more."

A loss at the ballot box would have been catastrophic for Brown politically. It also would have devastated education budgets throughout the state. The passage of Proposition 30 addressed both scenarios.

Now, the Democrats who won record-high numbers in the Legislature on Tuesday will owe him for the billions of dollars they'll have to balance the budget. The business interests who fear what a supermajority of Democrats might do with new, unilateral power will be eager to work with the moderate governor. They may see the pragmatic Brown as a check on a hostile Legislature.

Brown himself is already talking about the next steps in the state's bullet-train program and about moving on a multibillion-dollar system to send more water from the Sacramento-San Joaquin River Delta to Southern California — projects that could reshape his image into one of a builder like his father, who was governor when the state built new freeways and universities.

He wants to focus on enduring changes to the state's spending policies that he hopes will enhance California's standing with Wall Street and put it on more stable financial footing.

He is vowing to steer the Capitol toward moderation in the coming years, working with business leaders to streamline state regulations that they complain hamper economic growth. He wants to lift some of the policies Sacramento has inflicted on local schools — often at the behest of the Democrats' labor allies — so they have more flexibility in deciding how to operate.

"The work is never done," Brown said at a Capitol news conference after the election, stressing that he would not lose sight of the nuts and bolts of government just because the financial books would be in order for now.

He joked at the Capitol on Wednesday that he never understood why there were so many doubters of his ability to pull off a Proposition 30 victory.

"Some people began to read tea leaves incorrectly," Brown told reporters. "And then you all go off like a herd of buffalo down the road. Hopefully you're all now back on the plane of common sense."

Brown's internal polls had shown steady support for his measure despite public surveys suggesting steep drops. He was watching a surge in Democrats signing up to vote, spurred by the new online voter registration system he signed into law. Unions were mobilizing to get voters to the polls.

The governor also knew he could ride the coattails of President Obama, who appealed to the same demographic group as Proposition 30 and has been consistently popular in California.

Still, the path to victory had looked rocky as election day loomed. As in his 2010 gubernatorial campaign, he had resisted pressure from old Capitol hands to mobilize all his forces quickly. He ignored advice to hit the stump early and hard, to hammer away at this theme or that, to blitz the airwaves from the beginning.

Unfavorable reviews of Brown's encore as governor began to mount. Brown had vastly more campaign money than his opponents, but No-on-30 ads blanketed the airwaves, helped by $11 million that secret donors gave a group devoted partly to defeating Brown's measure.

He tweaked his strategy after questioning employees at a San Diego coffee shop. When one young woman told him she hadn't seen his commercials because she doesn't watch TV, he called his chief advisor, his wife, Anne Gust Brown, to say they needed to reach the "non-TV voter."

Only days away from the election, he had not settled on whether he should be featured prominently in campaign advertisements. On a plane, in the air between Bakersfield and Fresno, he drilled a Central Valley state senator about how voters viewed him there and whether his face should appear on their television sets.

"If this had gone the other way, he would be perceived as a lame duck," said Sherry Bebitch Jeffe, a professor in the USC Price School of Public Policy. "You would have seen a lot more visible activity on the part of … possible opponents in the 2014 governor's race."

Lt. Gov. Gavin Newsom, a fellow Democrat, appeared to be positioning himself that way when he openly contradicted some of what Brown said on the campaign trail. As it became clear in the wee hours Wednesday that Proposition 30 would pass, Brown's press secretary had a message for Newsom in the form of a tweet.

It was a link to Elvis Presley performing "Are You Lonesome Tonight?"

evan.halper@latimes.com

anthony.york@latimes.com

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Exclusive: Google Ventures beefs up fund size to $300 million a year

SAN FRANCISCO (Reuters) - Google will increase the cash it allocates to its venture-capital arm to up to $300 million a year from $200 million, catapulting Google Ventures into the top echelon of corporate venture-capital funds.

Access to that sizeable checkbook means Google Ventures will be able to invest in more later-stage financing rounds, which tend to be in the tens of millions of dollars or more per investor.

It puts the firm on the same footing as more established corporate venture funds such as Intel's Intel Capital, which typically invests $300-$500 million a year.

"It puts a lot more wood behind the arrow if we need it," said Bill Maris, managing partner of Google Ventures.

Part of the rationale behind the increase is that Google Ventures is a relatively young firm, founded in 2009. Some of the companies it backed two or three years ago are now at later stages, potentially requiring larger cash infusions to grow further.

Google Ventures has taken an eclectic approach, investing in a broad spectrum of companies ranging from medicine to clean power to coupon companies.

Every year, it typically funds 40-50 "seed-stage" deals where it invests $250,000 or less in a company, and perhaps around 15 deals where it invests up to $10 million, Maris said. It aims to complete one or two deals annually in the $20-$50 million range, Maris said.

LACKING SUPERSTARS

Some of its investments include Nest, a smart-thermostat company; Foundation Medicine, which applies genomic analysis to cancer care; Relay Rides, a carsharing service; and smart-grid company Silver Spring Networks. Last year, its portfolio company HomeAway raised $216 million in an initial public offering.

Still, Google Ventures lacks superstar companies such as microblogging service Twitter or online bulletin-board company Pinterest. The firm's recent hiring of high-profile entrepreneur Kevin Rose as a partner could help attract higher-profile deals.

Soon it could have even more cash to play around with. "Larry has repeatedly asked me: 'What do you think you could do with a billion a year?'" said Maris, referring to Google chief executive Larry Page.

(Editing by Muralikumar Anantharaman)

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Mark Wahlberg to star in next 'Transformers' movie

LOS ANGELES (AP) — Mark Wahlberg, roll out.

"Transformers" director Michael Bay says the 41-year-old actor will star in the franchise's fourth film.

Bay called Wahlberg the "perfect guy to re-invigorate the franchise and carry on the Transformers' legacy" in a post on his blog Thursday. He previously squashed rumors that Wahlberg was joining the film franchise about warring robots.

Bay worked with Wahlberg on his upcoming film, "Pain and Gain."

"Transformers 4" is scheduled to be released by Paramount Pictures on June 27, 2014.

Bay has said the next film will take a new direction in the series. The first three movies starred Shia LaBeouf and featured Peter Cullen as the voice of Autobot general Optimus Prime.

The third "Transformers" film, "Dark of the Moon," was the second highest-grossing film of 2011.

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Ask an Expert: Wondering About Alzheimer’s? Ask Here

This week’s Ask the Expert features Dr. P. Murali Doraiswamy, who will answer questions related to Alzheimer’s disease and memory loss. He is a professor of psychiatry at Duke University Medical Center and an author of “The Alzheimer’s Action Plan.” Dr. Doraiswamy has also served as an adviser to government agencies, advocacy groups and businesses.

About five million Americans today live with Alzheimer’s disease, and a new diagnosis is made about every 70 seconds. Cases are expected to triple over the coming decades as baby boomers age.

Misperceptions and misdiagnoses are common about Alzheimer’s, which ranks second to only cancer among diseases that adults fear the most. Many people do not understand that there are dozens of causes for memory loss besides Alzheimer’s, including many that can be fully reversed if caught early.

Among the questions Dr. Doraiswamy is prepared to answer:

What are the best tests to determine if it is or isn’t Alzheimer’s?

How do you determine your own risk?

What are the family-care options? Medications for memory? Medications for behavior problems? Preventive strategies?

What has been learned from the latest clinical trials?

How can you improve your memory?

Please leave your questions in the comments section. Answers will be posted on Wednesday.

You can follow Booming via RSS here or visit nytimes.com/booming.

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Hybrid social networks help users connect online, meet up offline

Not too long ago, friending someone involved more than just clicking a button on Facebook.

So in a retro twist to social networking, a wave of Web start-ups are encouraging users to get off their couches, away from their smartphones and tablets, and back into the real world.

"We have an internal tagline: Use the Internet to get off the Internet," said Kathryn Fink, community manager at Meetup, an online-to-offline start-up with 11 million members.

Hybrid social networks are connecting strangers with similar interests online, then directing them to meet in person for dinners, bar-hopping, bowling or biking excursions. Unlike dating or networking sites, these start-ups are focused simply on helping users make new friends and hang out face to face. If a hookup or job interview results — well, that's just an added bonus.

On the sites, users create a free profile of themselves with basic information and a photo, and search for get-togethers that interest them. Before meeting face to face, people can post questions, offer parking or traffic tips and suggest topics to talk about. Events that cost money are usually paid for in advance online.

Quiz: How much do you know about California's economy?

The sites are doing especially well among twenty- and thirtysomethings in big cities, where finding new people to hang out with can be challenging.

"When you're in college, friends are basically thrown at you," said Greg Self, 22, an assistant at a film production company. "You get off the bus, you step on campus, and everyone is in the same situation as you and it's super easy."

But that wasn't the case after Self moved to L.A. from Virginia earlier this year. He searched online for ways to meet new people and came across Grubwithus, a Venice start-up that enables users to create and attend group meals.

Grubwithus meals are hosted at restaurants and typically bring together six to 10 people who have never met each other. Everyone pays in advance for their meal on the Grubwithus site — the start-up generally takes a 20% to 30% cut of each transaction — so there's no mulling over the menu or bickering over the tab.

In L.A., there have been Grubwithus meals geared toward traveling enthusiasts, vegans, Clippers fans and music aficionados. A recent dinner at the Venice Ale House was devoted to people who love beer and the television show "Arrested Development."

Grubwithus has tripled its user base since the beginning of the year, with meal reservations growing 15% month over month; the company has more than 80,000 subscribers. It launched out of start-up accelerator program Y Combinator and has raised $7.6 million in financing from investors including Ashton Kutcher and venture capital firm Andreessen Horowitz.

Since February, Self has attended nine Grubwithus meals and said he has made a handful of friends from the dinners.

"It's definitely added to my experience in this city," he said, though he added that some "can be hit or miss."

"I've been to ones before where you're sitting in between two people who are not really talking at all, or are not very interesting," he said. "And you're like, well, at least the food's good."

Grubwithus Chief Executive Eddy Lu said users like such online-offline sites because they provide a safe way for people to meet — members identify themselves through their profiles and get the chance to communicate with one another online before meeting at a business or other public place. That way, he said, intentions are clear from the start.

"If you talk to a girl at a bar, she thinks you're hitting on her; if you talk to a guy at a bar, he thinks you're hitting on him. It doesn't work," said Lu, who co-founded Grubwithus after graduating from UC Berkeley and having trouble finding new buddies when he moved to Chicago.

What seemed to work best, he realized, was house parties where people got to know friends of friends over a casual dinner. He set out to re-create that experience at restaurants, with the focus on fostering "low-pressure hangouts."

The hybrid social networks aren't just for the friendless. Many members of Meetup, an online community for groups to organize in-person outings, are using the site to supplement their core social circles, Fink said. In Southern California, Meetup has groups dedicated to art and museum enthusiasts, runners, Korean moms and young L.A. Eastsiders, among others.

"You might have a fantastic social circle with friends and family and co-workers, but if they're not into hiking and you love it, what do you do?" Fink said.

Still, some of the start-ups have been slow to get off the ground.

After receiving $5 million in funding in the spring, Lifecrowd, an experience marketplace for in-person group activities such as kickball and kayaking, went offline a few weeks ago. Chief Executive Bong Koh declined to comment on the start-up's progress; on its website, the Los Angeles company promises to "be back soon with an even better Lifecrowd."

Venture capitalist Mark Suster of L.A.'s GRP Partners says investing in start-ups that bridge the gap between online and offline social interactions has become a smart move instead of "putting all your eggs in the online-only basket."

"Pure online friends aren't the same as the people you've met in your personal life," said Suster, who backs Grubwithus.

Another rising tech start-up is Grouper, which connects two groups of friends for face-to-face hangouts after pairing them online. Users apply for membership and are matched with someone else on the site. Each person then invites two other friends to join in for drinks; after prepaying online for the first round of drinks, the group of six meets at a bar chosen by Grouper. The setup takes away some of the awkwardness of meeting someone new alone, said Michael Waxman, Grouper's co-founder and chief executive.

Launched in New York last year, Grouper expanded to L.A. in September.

"In a lot of ways, we're the anti-Facebook," Waxman said. "One of the original things that played into the genesis of Grouper was the idea that social software didn't make a lot of sense. There's this underlying paradox: Facebook, Twitter, social products — you usually use them by yourself by the glow of your computer screen."

andrea.chang@latimes.com

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