Keith A. Seilhan, who was the incident commander directing the company's cleanup effort, allegedly sold $1 million in BP stock based on non-public information about the extent of the spill.
Malls in America have struggled to keep business up since before the recession. They’ve faced competition from online retailers and haven’t found a solution to the loss of big box anchor stores who found they could no longer sustain the square footage they once did. It’s not hard to find an analyst trumpeting the death of the mall as developers look for alternatives.
Rick Caruso, CEO of Caruso Affiliated thinks he has it figured out.
“The most productive retailers and restaurateurs are all on streets, anywhere in the world. There isn’t a mall in New York City that does better than Madison Avenue or 5th Avenue.”
And that’s what he’s tried to imitate at his developments across Southern California. In Los Angeles, his best known properties may be the Grove and the Americana.
Even on an overcast mid-week afternoon, the Americana bustles with families. Caruso believes it’s because of the Americana’s park-like qualities.
“It taps into the natural rhythm of how we all live. Nobody naturally wants to go inside an enclosed box and spend the afternoon.”
He’s found that even bad weather won’t necessarily drive people away. But he’s offering something more than blue skies.
“An indoor mall has now become a destination. Somebody goes there, shops for what they want and leave…and it’s not a great experience.”
At the Americana, visitors walk their dogs on the sidewalks and kids play on the green. Music piped through loudspeakers is the soundtrack and a red trolley roles by intermittently. Caruso says he doesn’t mind if people come and don’t spend money.
“We’ve created an environment where you can come and enjoy yourself. And I’m going to get you the next time” he jokes.Shops are seen at the Americana at Brand shopping community in Glendale, California. (Shea Huffman/Marketplace) Caruso emphasizes the strict attention to detail at the Americana.
He’s had a hand in designing everything – from the type of stone used on store fronts to the statues modeled after those in France.
“We’re in the entertainment business. You step on the property in the morning, it’s got to be perfect.”Marketplace Host Kai Ryssdal interviews Rick Caruso, CEO of Caruso Affiliated, as a trolley carries shoppers in the background at the Americana at Brand shopping community in Glendale, California. (Shea Huffman/Marketplace) And he’s serious about that – just like another entertainment company located not too far away.
“We study Disney and Disney studies us and we spend a lot of time with the Disney folks.”
For the malls that dot the country, Caruso sees a mixed outlook. Not all will survive. Those that do will have to become better at curating the mix of stores that shoppers can find there. They’ll also have to figure out what to do with the large spaces that big box retailers are shifting away from.Shoppers talk amongst themselves at the Americana at Brand shopping community in Glendale, California. (Shea Huffman/Marketplace) But when it comes to applying what he’s learned in Southern California to the rest of the country – Caruso’s not as interested. He wants to stay in the region. The rest he’ll leave to someone else.
Kepler-186f is almost the same size as Earth, and it orbits in its star's "Goldilocks zone"-- where temperatures may be just right for life. But much is unknown because it's also 500 light-years away.
It turns out the first chili peppers were grown by humans in eastern Mexico. And it's not the same region where beans and corn were first grown, according to new ways of evaluating evidence.
In our interview with Rick Caruso, CEO of Caruso Affiliated and developer of famous Los Angeles malls like the Grove and the Americana, we asked him to divulge his favorite part of the mall. He answered with a riddle:
What does the 1717 number on the trolley at the Americana mean?
Or the 1759 number on the trolley at the Grove?
Caruso says if you guess the right answer, you'll get a free Sprinkles cupcake -- and we'll hold him to it.
Scientists based their technique on the one used to create the sheep Dolly years ago. These cells might one day be useful in treating all sorts of diseases.
Pepsi surprised investors today with higher-than-expected earnings: Pepsi reported a net income of $1.22 billion in the first quarter of this year.
But don't chalk the earnings up to sales of its famous soda. They've been flat. The real money is in chips. It seems we're eating more of the chips Pepsi's Frito Lay division makes, specifically Fritos and Doritos.
"The PepsiCo products, whether it's chips or the other grab and go items they have certatinly fit well within the consumer's need for on-the-go food" - David Henkes, Vice President at Technomic.
Henkes says Pepsi is also venturing into other types of beverages, like juices and teas. It also makes energy drinks, which sell for more than soda. With Pepsi snacks gaining popularity in developing countries like India, Henkes says a great deal of Pepsi's future growth will be in new markets.
Man goes in for a routine hip operation. In the corner of the operating room, there's a young med student watching. When things go wrong, she tries to make sense of what she sees.