Author: Rodeo Realty Media Team

Daryl Katz, the billionaire owner of the Edmonton Oilers hockey franchise, has bought a house in Bel-Air for $9.1 million. The seller was Henry Morton, the son of hotelier Peter Morton.

Tucked behind chrome gates on about one-third of an acre, the late 1950s Midcentury residence was once owned by Arthur Marx, the son of comedian and actor Groucho Marx.

Entered through a glass front door, the 3,040 square feet of space opens to a formal living room with a wall fireplace. A dining room, a kitchen with a wine refrigerator, a media area, three bedrooms and 4.5 bathrooms complete the open-area living space.

Walls of sliding glass doors open to a loggia, an outdoor living area and a swimming pool and spa. Views take in the downtown cityscape and ocean.

A motor court sits off the entrance to the home.

Josh Flagg of Rodeo Realty was the listing agent. Donovan Healey of John Aaroe Group repped the buyer.

The sale marks the second time the property has changed hands in the past year. Last May, it sold for $8.25 million. Marx, who died in 2011 at 89, sold the home six years ago for $1.685 million, records show.

The house is also nearby the onetime Art Linkletter estate, which Katz acquired last yearfor $34.5 million in an off-market deal. He is currently developing the 4.6-acre estate, according to real estate sources.

Katz, 54, is a Canadian investor and businessman who bought the NHL franchise in 2009. Last year, he partnered with Hollywood producer Joel Silver to form the production company Silver Pictures Entertainment.

His net worth is estimated at $3.2 billion, according to Forbes.

 

Article courtesy of the LA Times

 

While everyone’s favorite Target Husk—the one lording over Sunset and Western in East Hollywood—stands accruing graffiti tags and rust (do Targets rust?), city planners have been hard at work trying to figure out how to see the development completed.

This includes, among other things, fundamentally rewriting the city planning documents that govern development on that particular block. Last November, the Planning and Land Use Management Committee announced a recommendation that the City Council amend the Station Area Neighborhood Plan to include higher height-limits. LAist was present at a public comment meeting where East Hollywood Residents weighed in on the Target. While a majority supported the construction, several residents also argued it was irresponsible development.

While the City Council was going to vote on it then, the decision was postponed pending another conflict over a required child-care center, according to the Los Angeles Times.

The city’s Planning Commission voted last November to require that Target provide a nearly 4,000-square-foot child care-center within a mile of the development. Supporting child care is required under city planning law businesses over a certain size. Target Corporation said this was absolutely impractical, but did say that they would be willing to contribute roughly $400,000 to support child-care in the area.

In 2014, a court ruling ordered the development’s construction halted. A lawsuit filed by the La Mirada Homeowner’s Association—argued by notable land-use attorney Robert P. Silverstein—pointed out the City Council violated height limits in the neighborhood. Where the Husk stands 74-feet-tall, it stands on a block with a 35-foot height limit as established by the neighborhood’s planning documents.

But aside from the height limits, the proposed Target also failed to meet certain requirements for parking—it didn’t have enough—nor did it adequately support local centers for child-care.

Obviously this is still a mess. And it doesn’t get better when you consider that the litigious-happy La Mirada Homeowners Association is still around, waiting for the city to make significant action before probably suing again.

If the city does officially modify the Station Area Neighborhood Plan, you can practically hear Silverstein’s opening statement, on behalf of the La Mirada Homeowners Association, as he argues the city failed to conduct proper environmental review before modifying the plan.

As Doug Haines, a member of the Association said to the Times, “Instead of reconfiguring the building to conform with the law, they’re trying to reconfigure the law to conform to the buildings.”

A Metro presentation posted on the Fans of L.A. Metro Rail Facebook page reveals that the transit agency might soon begin experimenting with a more thorough paid parking system at some rail-station parking lots.

While paying for parking is nothing new—a preferential permit system has been in place for some time now—Metro is looking for more ways to build revenue. The agency faces a $36.8 million dollar deficit for the 2017 fiscal year, and what better way to close that deficient than to charge people for parking at some of the 25,000 spaces scattered throughout the agency’s rail network?

The outline for the parking scheme shows a two-tiered rate, charging one rate for transit users, and another for people who just want to park in the lot. Where transit users can expect to pay $2 – $3 for the privilege of parking in a Metro lot, non-transit users will be looking at paying anywhere from $15 – $25 for a space.

For example, at the Universal City lot, a person who parks their car and takes the Red Line to work in downtown would pay $3 for the spot, while a tourist visiting Universal Studios for the day would shell out $25.

Overall, Metro expects the pilot program to generate about $600,000 for the agency, while providing some evaluation points as the agency looks to further monetize its parking lots. The $600,000 value would grow if the pilot program was expanded.

According to L.A. Magazine, the pilot program will likely begin this May when the Expo Line extension to Santa Monica is widely rumored to open. Along with the North Hollywood and Universal City Red Line stations, the program will include stations-lots along both the Gold and Expo Line.

Those who already hold monthly passes at some of the more crowded stations, notably North Hollywood and Universal City, will continue to enjoy preferential privilege. Incidentally, despite the large parking lots, most Metro users do not drive to the station. As Curbed LA points out, fewer than 15 percent of train users arrive at their initial station by car.

 

Article courtesy of the LAist

The stock market suffered its second consecutive steep loss Monday in a volatile session that featured a seemingly odd turn of events.

Even as crude oil dropped back below $30 a barrel amid fears of a worldwide economic slowdown, the shares of oil giants Exxon Mobil Corp. and Chevron Corp. jumped in price.

That’s because after weeks of seeing the market fall sharply, many investors are shifting their focus toward shares with stable growth prospects and hefty dividend yields — including the big oil companies — and away from once high-flying stocks, especially those in the tech sector, analysts said.

“There is a shift from go-go momentum growth stocks to old-school stuff,” said David Dietze, chief investment strategist at Point View Wealth Management Inc.

It’s what Wall Street dubs a “rotation” and it means investors are seeking safer investments in the face of the overall market’s decline and volatility.

That volatility was evident again Monday as the market initially plummeted — with the Dow Jones industrial average down 400 points — before a late-afternoon rally pared its losses.

The Dow finished with a loss of 177.92 points, or 1.1%, at 16,027.05. The broader Standard & Poor’s 500 index fell 26.61 points, or 1.4%, to 1,853.44 and the Nasdaq composite index, which is laden with technology shares, dropped 79.39 points, or 1.8%, to 4,283.75.

The losses followed steep declines Friday and added to the substantial damage the market has incurred this year.

The S&P 500 is down 9.3% year to date and the Nasdaq composite index has tumbled 14.5%, well beyond the 10% pullback that’s known as a market “correction.”

One reason: Tech shares were pounded again Monday, especially companies with high price-to-earnings multiples, on grounds that they had become too expensive relative to their growth prospects even if those prospects remain strong.

Fitbit Inc., the maker of activity tracking devices, tumbled 8.6% on Monday and has plunged 51% this year. Amazon.com Inc. and Netflix Inc. are both down about 27% year to date.

Those tech stocks, along with many financial and healthcare stocks, were “the last bastion of the outperforming parts of the market,” said James Paulsen, chief investment strategist at Wells Capital Management Inc.

Major banks and other financial stocks also have taken a beating amid concerns about the banking systems and economies in Europe and Asia, said Art Hogan, chief market strategist at Wunderlich Securities.

Bank of America Corp. has skidded 27% this year, Wells Fargo & Co. is down 14.5% and Visa Inc. has declined 12.6%.

“There is a fear that there may be some sort of a global contagion” that could spread to the U.S. banking system even though “it’s probably not true,” Hogan said.

True or not, the financial stocks “are just catching up with the problems in those [overseas] credit markets,” said Bill King, chief market strategist at M. Ramsey King Securities.

And although many economists don’t see a U.S. recession on the horizon, for those who do fear an economic slowdown “the last thing you want to own is a bank stock,” Paulsen said.

So investors are looking at other market sectors they see as so-called defensive or value plays. Those include the utilities, telecommunication firms and consumer staples companies such as food and beverage firms.

The S&P utilities and telecom indexes are each up 7% this year.

And now Big Oil is starting to move back up, partly due to the companies’ dividends and partly because some investors are betting that even if oil prices drop lower, the companies’ long-term prospects remain solid.

Exxon Mobil, for instance, climbed $1.08 to $81.16 a share Monday, giving the stock a dividend yield of 3.6%. Chevron’s yield is nearly 5%. Both yields are well above the 1% or less available on many savings accounts and the less than 2% yield now available on the 10-year Treasury note.

As stock prices have tumbled, many investors have bought up Treasuries, sending the securities’ prices higher and their yields lower. The yield on the 10-year Treasury, which began the year around 2.2%, fell to 1.75% on Monday.

In the oil market, benchmark light U.S. crude oil fell again Monday, losing $1.20 to $29.69 a barrel on the New York Mercantile Exchange.

Oil prices could fall further and again send energy stocks lower, “but a lot of people are looking at the energy stocks as being the first ones in” when the stock market nosedived “and they will be the first ones out” — or jump in price — when oil markets stabilize, Dietze said.

And for investors looking for other positives, Paulsen said he’s encouraged that “the popular stocks in tech and healthcare, which were leading the market late last summer, are finally capitulating.”

“That’s a good sign that we’re at the latter end of this [decline] rather than at the start,” Paulsen said.

 

 

hen it comes to nearby desert hiking, Joshua Tree and its namesake national park deservedly come to mind. At over two hours away, it makes for a great getaway. But such a distance can be an impediment for a desert day hike where starting and ending the day in the comfort of your own home is what you’re feeling. Luckily, Los Angeles County shares a swath of the Mojave Desert in the Antelope Valley and that means Joshua trees, wildflowers, and some sweet looking geology are within reach. Here are six classics:

VASQUEZ ROCKS

It’s stood in as the home of Vulcans and the Flinstones in popular culture, and, in real life, Tataviam Indians and outlaw Tiburcio Vasquez, for which the site is named after. Today, the uplifted, folded angular slabs of sandstone are part of a county park just off the 14 freeway in Agua Dulce. It’s not a huge spot, but you can get in over three miles of hiking on its trails, or for something longer, take on a small segment of the 2,300-mile Pacific Crest Trail that passes through the park. It’s also a fun spot to explore, scramble on the rocks and picnic. Alcohol is not allowed, but there are two wineries in the neighborhood—Agua Dulce Winery and Reyes Winery—both which allow you to bring in food to picnic.

Vasquez Rocks Natural Area, 15101 Lancaster Road, Lancaster.

PRIME DESERT WOODLAND PRESERVE

Take a relaxing meander through the nearly three miles of trails in this island of habitat rich in Joshua trees, juniper, and creosote. While not exactly a rugged and remote hike, this 100-acre city park—nestled among suburban development—is a true joy, especially with plenty of jackrabbits hopping about. Bring your binoculars, take in the informative wayside signs and you could easily be here for hours geeking out and becoming an amateur desert naturalist. And since all the trails are wide, flat and graded, it’s a great spot for those using strollers and wheelchairs.

Prime Desert Woodland Preserve, 43201 35th Street West, Lancaster.

ANTELOPE VALLEY CALIFORNIA POPPY RESERVE

The internationally-regarded poppy fields here attract throngs of people to the High Desert. On a good wildflower year, when the western Antelope Valley is carpeted with orange, this place is slammed. Luckily, the reserve boasts several miles of trails (map, .pdf), which means there are opportunities to get away from the crowds if you’re willing to put your feet to work. There are two main outer loops: combine the Poppy Trail north and south loops for a little over two miles or hit all three of the park’s vista points by combining the Lighting Bolt, Antelope Butte, and Antelope Trail South Loop for a four-mile trek. You could also combine these two for about six miles total. It should be noted that off-trail travel in this park is strictly prohibited for obvious reasons.

If the bloom is peaking (keep an eye out on the Bloom Status section of this page for updates), other good flower spots are found along 110th Street between Avenues G and D (some call this the “Boulevard of Poppies”) and at the intersection of Munz Ranch and Lake Elizabeth roads for a scene that looks like this.

And while you’re up there, why not take a ride on the musical road?

Antelope Valley California Poppy Reserve, 15101 Lancaster Road (parking fee in effect all year), Lancaster.

ARTHUR B. RIPLEY DESERT WOODLAND STATE PARK

Like Prime Desert Woodland Preserve, this small state park lacks the mileage and elevation challenges other trails offer. Yet Ripley lets you walk through a wild juniper and Joshua tree forest that’s mostly pristine (except those non-native grasses), allowing you to perhaps experience the landscape as Native Americans and explorers saw it before it was plowed to make way for farming. Arthur B. Ripley was a farmer himself, but preserved this 500-acre site, willing it to the state. It’s a quiet, off-the-radar park and you can easily have it to yourself (I have twice now). Visit for a nice sunset walk after enjoying the flowers at the aforementioned poppy reserve, a 10-minute drive away.

Arthur B. Ripley Desert Woodland State Park, Lancaster Road (park here between 195th Street W and 210 Street W by the State Parks sign and gate), Lancaster.

SADDLEBACK BUTTE

The most far flung hike in this list, but one of the coolest. Walk among a Joshua tree forest on a 4.5-mile hike to the top of Saddleback Butte and back (start on the Little Butte Trail and connect to the Saddleback Butte Peak Trail—here’s a map on page four of his .pdf). When the winter rains are just right, the place can burst with wildflowers, namely yellow coreopsis, as the above photo from 2014 shows. The 360-degree view from the top shows you just how expansive and open the desert can be, and when the San Gabriel Mountains to the south are blanked in snow, that view is much more breathtaking. If you like the setting enough, campsites are available on a first-come, first-serve basis.

And a bonus for film nerds: that extremely violent wedding scene in Quentin Tarantino’s Kill Bill series was filmed nearby at The Sanctuary Adventist Church. If it’s a weekend, also consider visiting the very funky Antelope Valley Indian Museum down the road.

Saddleback Butte State Park, East Avenue J/170th Street East (parking fee in effect year round), Lancaster.

DEVIL’S PUNCHBOWL

This is an all-time classic Southern California hiking spot at the edge of the desert where it meets the San Gabriel Mountains. And it comes with a number of hiking options, the easiest of which is an amazing one-mile loop 300 feet down into the punchbowl itself, a product of seismic folding just like Vasquez Rocks (this area is an earthquake rift zone, after all). The rock formations you walk among and the meandering Punchbowl Stream here make up for the incredibly short length of the trail. Don’t rush through here; take time to scramble and explore the area. I especially loved following the stream off-trail.

For something longer, trek the seven-and-a-half miles roundtrip to Devil’s Chair, a vertigo inducing vista spot overlooking the eastern bowl. Devil’s Punchbowl is also the start/finish for longer day hikes or backpacking trips in the San Gabriels, including the one-way, 27-mile High Desert National Trail.

If you’re interested in learning more about the geology here, Ranger David Numer, who has stood guard over this park for over 40 years, gives talks most Sundays at 1 p.m. (call ahead to make sure). The tour ends with a little drive outside the park to where the San Andreas Fault crosses the road, located nearby on Pallet Creek Road. Take joy in jump skipping between the North American and Pacific tectonic plates!

Devil’s Punchbowl Natural Area, 28000 Devil’s Punchbowl Road, Pearblossom.

 

 

Article courtesy of the LAist

Echo Park Lake is already a great place for a picnic (or a makeout sesh), and Wi-Fi-equipped. What more does it need? That’s right: a floating library. Wish granted, Los Angeles! Starting Thursday, February 11 and running until Sunday, February 14, those creative folks over at Machine Project (MP) have teamed up with a Minnesota-based artist to put “a collection of artist-made books and printed matter on a raft” on the lake, says a release from MP.

Article courtesy of Curbed LA

L.A. offers an incredible number of excellent destinations for craft beer, featuring increasingly local brews and delicious craft options from across the country and around the world. From special releases and tap takeovers to seasonal and rare pours, these are our favorite bars for beer around town.

VERDUGO BAR

This Glassell Park outpost offers an extensive selection of quality brews from home and abroad and a spacious beer garden-like patio to soak up the sun and suds. They offer 22 regularly rotating taps, as well as a nicely stocked fridge with an excellent bottle selection to stay or go. They also frequently host special release parties (Pliny the Younger!) and glassware giveaways on Monday nights (one per customer, while they last), and a great happy hour with $2 off draft beer, well drinks and wine (Monday through Friday, 6 p.m. to 8 p.m.; Saturday and Sunday, 3 p.m. to 7 p.m.). Settle into a cozy booth with a pint or tulip glass and enjoy some jams from the DJ booth or head to the patio where there’s often a food truck set up at their convenient service window. You can also buy your drinking buddy a gift card. Or sign yourself up for their beer passport, which entitles you to beer discounts and release party invites once you collect all of the stamps for over 70 breweries at Verdugo, or its sister bars, Surly Goat, Little Bear and Blind Donkey—all of which are also great places to go for beer.

Verdugo Bar is located at 3408 Verdugo Road, Glassel Park, (323) 257-3408.

SUNSET BEER COMPANY

Not only does this Echo Park beer mecca offer an amazing, often-changing selection of craft beers on tap, but their fridges and shelves are stocked with hundreds of bottles and cans, featuring special releases and hard-to-find breweries. Whether you’re in search of an obscure release or are in need of a bit of guidance, the staff is really helpful without being snobby. Order a pour from their taps or select any of the beers from the fridge and pay the $2 corkage fee to enjoy on one of the comfy chairs or play a board game with friends. You can also bring in food to chow while you drink. They frequently host tap takeovers and special releases—sometimes with live music or brewers. And if you wish to take something to go, you can mix-and-and match your own selections from the fridges. You also might want to sign up for their newsletteror follow them on Facebook to find out about upcoming releases.

Sunset Beer Company is located at 1498 Sunset Boulevard, Echo Park. (213) 481-2337.

UNCLE HENRY’S DELI

For dedicated beer lovers and locals alike, this decades-old, family-run deli is a hidden gem. The tiny Uncle Henry’s Deli blows most bigger establishments away with a whopping 105 craft beers on tap and over 300 rare and specialty bottles and 6-packs available to go. They also regularly host tap takeovers featuring craft breweries and “Steal the Pint” nights where you can take home the glass when you buy a select beer. And let’s not forget about the deli component of Uncle Henry’s. From cold cut sandwiches to French dips, to the hot dogs and deli salads, you really can’t go wrong. And if you’re really hungry, upgrade your sandwich to the massive, double-decker Baby Bomber option.

Uncle Henry’s Deli is located at 7400 Florence Avenue, Downey, (562) 927-0114.

BARREL DOWN

You can hit up Seven Grand for whiskey, but if beer’s what you’re in the mood for, try Barrel Down. This relatively new spot offers 40 taps, flowing with a wide variety of craft beer, plus bottles. They have several beers that are always on tap, plus a rotating selection of more season and unique brews. They also have a full bar with a selection of craft cocktails, as well as a menu of American comfort food. We like the fried chicken sandwich. During happy hour, which is Monday through Friday from 4 to 7 p.m., you can get select beers for $5, select cocktails for $7, carafes of wine for $14 and deals on share plates. —Juliet Bennett Rylah

Barrel Down is located at 525 W 7th Street in downtown L.A., (213) 232-8657.

TONY’S DARTS AWAY

This Burbank beer bastion delivers sweet hoppy nectar from 38 rotating taps of excellent, California-only craft beer. On Tuesday night’s they host weekly beer-centric events including tap takeovers, mystery flight nights and special beer release parties. You can also order up some delicious bites to pair with your brews, including tons of both vegan and carnivorous options, and great sausages for both. The cozy neighborhood joint also offers a pool table, darts and board games and a nice, little patio for great day drinking. You’ll also want to hit them up on weekends from 10 a.m. to 3 p.m. for craft beermosas and solid brunch fare.

Tony’s Darts Away is located at 1710 W Magnolia Boulevard, Burbank, (818) 253-1710

BONEYARD BISTRO

With over 42 taps and over 125 craft and reserve bottles, Boneyard Bistro offers an impressively diverse selection of first-rate beers. You can enjoy many of the draught beers as 16 ounce or 14 ounce pours, or 4 ounce samplers—with the exception of some stronger brews—and they feature a rotating choice of flights. Their slow-cooked barbecue is also worth investigating and they frequently host tasting menus paired with craft beers, and happy hour Monday to Friday from 4:30 p.m. to 6:30 p.m. with 25% off draft and bottled beer.

Boneyard Bistro is located at 13539 Ventura Boulevard, Sherman Oaks, (818) 906-7427.

GLENDALE TAP

With peanut shells covering the floor, vintage beer signs and old cans lining the wall and a bar made from an old bowling lane from Chicago, there’s plenty of charm at this laid-back neighborhood spot. But don’t be fooled, they’re serious when it comes to craft beer. With 52 taps of thoughtfully-curated, constantly rotating, and often hard-to-find pours, Glendale Tap is a beer nerds haven—and they’re happy to pour you a sample to help you find the right selection for you. And let’s not forget about their extensive bottle list featuring rare and seasonal options, and frequent special release nights. While you won’t find a gourmet burger here, they will heat you up a pretzel for $3 and the peanuts are free, so that should tide you over. And there’s a couple of pool tables to pass the time while you sip all of that great beer.

Glendale Tap is located at 4227 San Fernando Road, Glendale, (818) 241-4227.

BIERGARTEN

Biergarten, at any point in time, has 25 beers on draft, as well as some bottled and canned options. The menu consists of bar food that often skews either German or Korean, such as fusion burgers, sausages, wings, Korean tacos, poutine, German fried rice and crispy pig
knuckle. We suggest going during happy hour, which is Monday through Friday from 4 to 7 p.m, when you can get a pitcher of certain beers for $19 and deals on select menu items. —Juliet Bennett Rylah

Biergarten is located at 206 N. Western Avenue in Koreatown, (323) 466-4869.

SOUTHLAND BEER

Southland Beer is one of our favorite local spots. Hidden in the corner of a strip mall in Koreatown, you can find a collection of 20 rotating, unique brews here from both regional companies like Three Weavers, Golden Road and Bottle Logic, as well as beers from across the country (we just spotted a porter from Michigan’s Founders Brewing Co.). This casual neighborhood hangout offers communal seating where you can play board games and find a simple array of snacks including cheese plates, sausages, popcorn and desserts. There’s also a cooler in the back where you can purchase brews to-go, or drink them at the bar with a small corkage fee. Happy hour is from open to 7 p.m. on weekdays and from open until 5 p.m. on weekends, and includes no corkage fees on bottles and cans, plus select deals on snacks. —Juliet Bennett Rylah

Southland Beer is located at 740 S. Western Avenue, #112 in Koreatown, (213) 908-5104.

LUCKY BALDWIN’S

Named for a California real estate speculator, this British pub in Old Town Pasadena offers fish ‘n chips and other British fare, but also a vast selection of tasty beers. They have 63 beers on tap, plus bottles, and also hold celebrations for European drinking festivals. Happy hour is Monday through Friday from 4 to 6 p.m. and features $4 select pints, $6 select goblets and $5 select appetizers. They’re also open for breakfast! —Juliet Bennett Rylah

Lucky Baldwin’s is located at 17 S. Raymond Avenue in Pasadena, (626) 795-0652.

38 DEGREES

With 38 beers on tap and over 200 in bottles and cans, this institution has earned a loyal following of beer nerds. The helpful and beer-versed staff at both the Alhambra and Monrovia locations are always happy to pour samples and if you can’t make up your mind, and you can always go for a flight. They frequently host special beer release events featuring seasonal and rare options, and they recently hosted a bottle share day, where attendees brought their favorite brews to share with other participants. There’s also a great selection of food at 38 Degrees from hearty fare to lighter, healthier options.

38 Degrees is located at 100 W. Main Street, Alhambra, (626) 282-2038; and 110 E. Colorado Boulevard, Monrovia, (626) 408-5544.

ASHLAND HILL

This relatively new Santa Monica spot offers a wonderfully spacious patio where you can enjoy their excellent rotating selection of locally brewed craft, as well as top brews from across the country and the globe. Grab a seat in the tree-lined beer garden and consult one of the beer-knowledgeable waitstaff about the latest taps. You’re also going to want to get familiar with their food menu, which includes tasty bites perfect for sipping and sharing, like the loco moco with pork sausage and kimchi rice or the charred shishito mac ‘n cheese. Sit back and enjoy the sunshine for a day drinking session or get cozy under a heat lamp for those cool L.A. nights.

Ashland Hill is located at 2807 Main Street, Santa Monica, (310) 392-3300.

NAJA’S PLACE

This no-frills South Bay dive has been pleasing hopheads for over 30 years and offers an impressive line-up of 88 taps with excellent beers from near and far. They also often have tap takeovers and host beer festivals throughout the year that focus on a particular variety like sours and IPAs. Naja’s also has a great jukebox, frequent live bands and two pool tables, but a major draw is the great view of the King Harbor Marina. While the fried food is passable for soaking up the alcohol, keep an eye out for the roving taco cart if you’re in need of a bite. And if Naja’s gets too crowded or you’re looking for more great beer selection, we strongly recommend heading over to Select Beer Store, not far down the road.

Naja’s Place is located at 154 International Boardwalk, Redondo Beach, (310) 376-9951.

BLUE PALMS

Though you’ll be hard pressed to get a seat if there’s a show about to happen at The Fonda, this beer bar and restaurant offers a great selection of interesting brews and hearty bar food. They have 24 taps, plus canned and bottled beer. The selection is usually quite varied, with plenty of options for those who enjoy things other than IPAs and pale ales. Food-wise, it’s a hearty selection of sandwiches, greasy burgers, wings, salads and both traditional and vegan sausages. On Wednesday, score half-off canned craft beer, and on Tuesdays you can get $4 pints, assuming there isn’t a show next door and it’s not a special event. —Juliet Bennett Rylah

Blue Palms is located at 6124 Hollywood Boulevard in Hollywood, (323) 464-2337.

BEER BELLY

Though never a shortage of places to drink in Koreatown, Beer Belly is the best spot for anyone dipping their toes into the world of craft beer. They’ve even held “Craft For Crap” nights, where people can bring in “crap” beer and get a craft for a penny. No more than two-dozen craft brews will be on tap or available in bottles, making the selection process a little less intimidating. And even though it’s a limited selection at any given time, it’s always in rotation. Feel free to ask your waiter which beer goes best paired with their famous duck fat fries, or even the duck French dip. —Carman Tse

Beer Belly is located at 532 S. Western Avenue, in Koreatown. (213) 387-2337. A new location is coming soon to Long Beach.

MELODY LOUNGE

Stepping into this space, dimly lit by a number of Chinese lanterns, reveals a comfortable lounge with 24 beers on tap and a few bottles in the cooler. They do not serve hard liquor. It’s a perfectly pleasant place for a post-work hangout, but can really pick up (and get noisy) if they have a DJ—typically spinning vinyl—or music event at night. They don’t serve food here, but feel free to pick up something to much on at any of the nearby eateries. Happy hour is Monday through Friday from 5 p.m. to 9 p.m. and includes $1 off drafts. —Juliet Bennett Rylah

Melody Lounge is located at 939 N Hill Street in Chinatown, (213) 625-2823.

STOUT

When you’re in the mood for a quality burger-and-a-beer, Stout is the obvious choice. With outposts in Hollywood, Studio City and Santa Monica, each location offers a wide variety of craft brews and wine, on top of a hearty bar food menu. They’ve got hefty burgers for the hungry, made with either medium rare beef, organic ground chicken or quinoa veggie patties. They also offer suggestions as to which beer would best pair with each sandwich or burger. —Juliet Bennett Rylah

Stout is located at 1544 N. Cahuenga Boulevard in Hollywood, (323) 469-3801; 11262 Ventura Boulevard in Studio City, (818) 505-0076; and 111 Santa Monica Boulevard in Santa Monica, (310) 260-8679.

PUBLIC SCHOOL

Offering two dozen taps—16 of which rotate regularly—and an extensive offering of bottles and cans, Public School is a great place to go to study up on your favorite beers. Each location has in-house beer experts who are always ready with recommendations and who curate the offerings with special releases from local brewers as well as those further afield. You can also share large bottles of limited edition brews with their “Study Group” selection. Each location also offers great happy hour deals. And whether you need a small bite or a tasty burger to tide you over, their food selection is really solid.

Public School has multiple locations.

FATHER’S OFFICE

Some call the burger overrated and others laud it as the one that launched a million ‘gourmet’ burgers across Los Angeles. Whatever your feelings, there are fewer pleasures as satisfying as a good time at Father’s Office with good company. Chef Sang Yoon’s decadent gastropub fare is always a delight, and there are dozens upon dozens of international and rare beers to go with whatever you’re having, whether it’s the roasted bone marrow, beet salad or, heck, even that burger.

Father’s Office is located at 1018 Montana Avenue in Santa Monica, and 3229 Helms Avenue near Culver City, (310) 736-2224.

Steep losses in financial, technology and other companies sent U.S. stocks sharply lower in midday trading Monday. The decline followed drops in Europe and set the market on course for its second big loss in a row. Crude oil prices slumped again.

The Dow Jones industrial average was down 308 points, or 1.9%, to 15,897 as of 12:25 p.m. Eastern time, but that was up from a loss of more than 375 points earlier in the day. The Standard & Poor’s 500 fell 34 points, or 1.8%, to 1,845. The Nasdaq composite dropped 91 points, or 2.1%, to 4,271.

“Traders are worried that the financial market weakness that we’re experiencing is going to lead to weakness in the real economy,” said Jim McDonald, chief investment strategist at Northern Trust Wealth Management.

TURBULENT MARKET: Several factors have investors in a selling mood this year, including falling crude oil prices and the economic slowdown in China and elsewhere. Traders will be monitoring several big companies’ earnings this week to see what management teams say about their prospects for future earnings.

SECTOR VIEW: All 10 sectors in the S&P 500 index lost ground. Banks and other financial companies fell the most: 3%. Consumer discretionary, technology and materials stocks also fell sharply.

SHARED PAIN: Credit Suisse Group AG slid 5% on news that the bank’s new chief executive has asked for his bonus to be cut after a report of a huge fourth-quarter loss and plans for 4,000 job cuts. The stock shed 75 cents, putting it at $14.20.

ROUGH QUARTER: Cognizant Technology Solutions sank 6.8% after forecasting earnings and revenue that were well below what analysts were expecting. The stock shed $3.98, reaching $54.56.

IN TROUBLE: Harman International Industries was down 4.8% on news that a former executive at the car audio and video systems’ maker has been charged with insider trading by federal prosecutors. The stock fell $3.40 to $67.29.

GOING PRIVATE: Apollo Education Group vaulted 24.5% after agreeing to be acquired by a consortium led by the Vistria Group, an investment firm. The firm aims to take the for-profit college operator private. The stock gained $1.70 to $8.65.

MARKETS OVERSEAS: Among Europe’s main indexes, Germany’s DAX fell 3.3%, and France’s CAC 40 dropped 3.2%. The FTSE 100 index of leading British shares slid 2.7%. In Asia, many markets wereclosed for the Lunar New Year holidays. Japan’s benchmark Nikkei 225 rose 1.1%, and Australia’s S&P/ASX 200 was flat.

ENERGY: Benchmark U.S. crude oil fell 62 cents, or 2%, to $30.27 a barrel in New York. Brent crude, a benchmark for international oils, was down 61 cents, or 1.8%, to $33.45 a barrel in London.

BONDS AND CURRENCIES: Bond prices rose. The yield on the 10-year Treasury note fell to 1.77% from 1.84% late Friday. The euro was up at $1.1168, and the dollar fell to 115.75 yen.

 

Article courtesy of the LA Times Business