- Newsmaker: Merger to Create First Black-Owned National Banking Franchise Magic Johnson, Janet Jackson and Motown's Jheryl Busgy will be major shareholders in what's being called "the first black-owned national banking franchise." Kenneth Lombard, who heads Johnson's Development Corporation, will be vice chair of Founders National Bank of LA when it merges with banks in Boston and Miami.
- Reporter's Notebook: The Guy Who Came in Third - Last month's mayoral primary put City Attorney James Hahn and former Assembly Speaker Antonio Villagraigosa into a runoff. Both want the votes cast for the guy who came in third. Real estate developer Steve Soboroff talks about his "new responsibility" of deciding where to throw his support and whether to publicly endorse either candidate.
Hollywood Reporter Resignations
Industry trade papers claim to maintain the same, lofty journalistic standards as The New York Times. But one of entertainment's popular trades has lost a reporter and two editors in just the past week, and they all insist they're leaving The Hollywood Reporter because of a problem over journalistic ethics. Investigative reporter David Robb resigned last week when his publisher quashed his story of corruption within the paper's own ranks. Robb and freelance writer Kim Masters join us to talk about the difficulty in reporting such a story and the charges of ethical violations.