Developing Downtown; Federated to Buy May

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Segment #1: Developing Downtown
New York based Related Companies won the bid to transform LA's civic and cultural center from dull and run down into what's called an "urban mixed-use neighborhood." After six months of public comment, Related says it has been encouraged at "every step to be bold, urban and dense." That's what developer Bill Wittee told Katheryn Maese, city editor of the Downtown News.

Segment #2: Federated to Buy May
Meantime, another development may have a much bigger, much sooner affect on the lives of Southern California consumers. That's the announcement that Federated Department Stores will buy out competitor May Department Stores. Jack Kyser, Vice President and Chief Economist of the LA Economic Development Corporation, says there will be some pain in the $11 billion merger.

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Governor Schwarzenegger's State of the State address

Related Companies

Federated Stores announces merger with May Department Stores


Sears Grand

EV1 vigil



Warren Olney


Frances Anderton