Explaining Southern California's economy
If BYD is in trouble in China, what does that mean for its HQ in Los Angeles?
Matthew DeBord
BYD — it stands for "Build Your Dreams" — built a future in Downtown L.A., home to its North American HQ. Unfortunately, it's enduring something of a nightmare with its business at home in China, even with billionaire Warren Buffett invested.
BYD is a Chinese company that has one big thing going for it: It counts Warren Buffett as an investor. But beyond that, the carmaker/batterymaker/solar manufacturer has been enduring a rough ride. It's seen a massive decline in earnings this year, while Buffett has seen his 10 percent stake, purchased in 2008, fall to substantially less than its 2010 peak value of $1.2 billion. BYD (it stands for "Build Your Dreams") executives have been heading for the exits.
There are some complex, interpersonal, inside-Berkshire Hathaway questions about how Buffett and his longtime partner, Charles Munger, came to be involved with BYD. But there's no question about how Los Angeles came to be home to BYD's North American headquarters, opened Downtown about a year ago, in a corridor that's jammed with auto dealerships.
Occupy LA: Time to go — peacefully
Of all major U.S. cities with Occupy movements, LA has been by far the most calm — and the city government has been the most accommodating. The City Council voted early on to support the movement, while Mayor Antonio Villaraigosa has affirmed the protesters right to assemble, as well as nodded favorably toward their cause. The city also gave the movement a lot of time to prepare for what was supposed to be a departure today from its encampment at City Hall.
But they're still there. And filing a lawsuit to stick around.
To borrow a line from "Gladiator," some people should know when they're conquered. Or, more accurately, when they're been treated with kid gloves for an exceptionally long period of time. To its credit, LA is taking the sluggishness of the Occupy departure/non-departure in stride. That's consistent with how the city has dealt with Occupy so far.
























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