AUTO MEDIA OPTIONS: The 2009 Corolla and Matrix models will be the first Toyotas to offer factory-equipped XM satellite radio access when they roll into showrooms in Spring 2008. Toyota detailed the new arrangement today. . .

XM Satellite Radio, the nation’s leading provider of satellite radio with more than 8.5 million subscribers, further said the models also will offer XM NavTraffic as an option with the available GPS navigation systems.

XM Radio will be a standard feature on all model year 2009 Corolla and Matrix that come with the JBL premium audio system. XM NavTraffic, XM’s real- time satellite information service for GPS navigation, will also be available as an option on all 2009 Corolla and Matrix vehicles equipped with a navigation system.

XM is the exclusive factory-installed satellite radio provider for Torrance-based Toyota Motor Sales, U.S.A., the global automaker's U.S. sales and marketing unit.

XM and XM NavTraffic are already available as factory installed features on the Lexus LS 460 and 600h models, and will be available factory installed on the upcoming 2008 LX 570.

Toyota’s annual factory production of XM-equipped vehicles is expected to exceed one million by 2010. Every Toyota and Lexus equipped with factory-installed XM comes with a three month trial subscription.

XM NavTraffic feeds data on incidents directly to the vehicle’s navigation system, alerting the driver to traffic problems on the navigation screen. The driver can then route around a jam before getting caught in traffic. XM NavTraffic also provides information on traffic flow where available, showing the average speed of travel along the driver’s planned route.

XM so far has partnerships with General Motors, Honda, Hyundai, Nissan, Porsche, Subaru, Suzuki and Toyota. XM radio is available in more than 140 different vehicle models for 2007.

For more information about XM hardware, programming and partnerships, click here.

Posted by Martin Romjue at 5:50 PM | Permalink | Comments (0)

HOUSEHOLDS TURNED UPSIDE DOWN: Homeowners struggling with high mortgage payments and headed toward possible foreclosure still can take steps to prevent the nuclear option: Packing up and driving away from the house. Finding flexible alternatives is paramount in such high-mortgage, high-default states as California, where adjustable-rate mortgage resets are expected to peak in 2008. See tips below:

A summary of foreclosure prevention tips offered by the U.S. Housing and Urban Development and Brothers
Redevelopment Inc. of Denver:

1) Contact your mortgage company as soon as you realize there may be a problem with making payments. Make sure to respond to all mail and other correspondence from the company.

2) Educate yourself about homeowner’s rights, foreclosure prevention options and foreclosure laws.

3) Read mortgage documents carefully to become familiar with what would be required if you are unable to make payments.

4) Prepare and follow a household budget to keep spending in line. Try to cut costs on non-essential items such as television subscription services, meals out, movies, and other entertainment.

5) Look for ways to make extra money by selling non-essential assets, taking an additional job or even renting out a room.

6) Make an appointment with a non-profit housing counselor to review your situation and provide any assistance that’s needed.

-- compiled by The Associated Press

Posted by Martin Romjue at 12:50 PM | Permalink | Comments (0)

CAR BIRTH: Toyota Motor Corp. today debuts one of America's most popular fuel-efficient cars -- for many students and young people, a "starter" car -- the 2009 Corolla. This will be the 10th generation, or "shape," of the Corolla since it was introduced into the U.S. in 1968. The debut comes on the day of Toyota's 50th anniversary selling cars in the U.S. Its American sales and marketing unit, Toyota Motor Sales U.S.A., has been headquartered in Torrance since 1982, and is one of the South Bay's highest profile companies.

Check out Muhammed El-Hasan's 50th anniversary Toyota story on today's front page of the Daily Breeze, both print version and Web home page.

From The Associated Press:

LAS VEGAS — The new model, shown at the Specialty Equipment Market Association trade show in Las Vegas, was designed to be sportier, with a larger interior, new chassis and a more economical and powerful 1.8-liter engine, the company said.

Since the model first was introduced in 1966 in Japan, Toyota has sold 30 million worldwide.

The decked-out XRS model comes with front and rear spoilers and a 2.4-liter engine capable of producing 158 horsepower. The smaller engine gets city/highway mileage of 25/35 miles per gallon while the larger one gets 22/30 mpg, Toyota said.

The new Corolla was expected to reach dealerships in February, with pricing between the entry-level Yaris and the Camry sedan.

Toyota also revealed the new look for its 2009 Matrix, the wagon version of the Corolla. It also features a lower, sportier profile, which the company said aimed for a “coupe-like style with a fun-to-drive image.”

Posted by Martin Romjue at 10:54 AM | Permalink | Comments (0)

POWER MOVE: El Segundo-based Aura Systems, a major maker of electric power generators and equipment, has retained a new investor relations agency to keep its investors posted of new developments.

Translation: We are growing so fast we hired someone to tell the people who give us money, what we're doing with their money. More below.

Aura Systems Inc. (Pink Sheets:AUSI) has retained Wolfe Axelrod Weinberger Associates as its investor relations
agency.

Aura's CEO, Mel Gagerman, said in a statement: "As a result of achievements during the last several months, we believe Aura Systems is on the cusp of significant growth. Our patented and unique mobile electric power generators have developed accelerating interest from both military and commercial users of mobile power. We have reached a point where an active investor relations program is warranted in order to keep the investment community informed of the company’s progress."

Wolfe Axelrod Weinberger Associates has been representing publicly traded emerging growth companies to both Wall Street and Main Street for over 25 years. WAW designs and implements programs that enable clients to streamline costs and get attention from potential investors and the media.

Aura Systems Inc. specializes in mobile electric power generation in the 2-16 kilowatt range. Its product is patented in over 70 countries and is known as the AuraGen(R) for commercial applications and VIPER for military applications. The AuraGen and VIPER can be used in industries such as refrigeration, emergency services,
telecommunications, utilities, marine, oil and gas and government services.

For more information: Aura Systems and Wolfe Axelrod Weinberger Associates LLC (WAW)

Posted by Martin Romjue at 10:28 AM | Permalink | Comments (0)

We've heard a lot about using ethanol, switchgrass and vegetable oil as alternative fuels to make cars greener. Now we can add algae to the list, or "green scum." San Ramon-based Chevron Corp., which operates a refinery in El Segundo, said today it is pursuing a research project that could yield jet and transportation fuels made with algae. The summary from Chevron is below.

Chevron is joining with the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) to research and develop advance technology that could produce liquid fuels that use algae.

Chevron and NREL scientists will work to identify and further cultivate algae strains that can be economically harvested and processed into finished transportation fuels such as jet fuel.

Chevron Technology Ventures, a division of Chevron U.S.A. Inc., will fund the project. It is the second under a five-year strategic biofuels research alliance between Chevron and NREL announced in October 2006.

The first involves bio-oil reforming, a process by which bio-oils derived from the decomposition of biological feedstocks are then converted into hydrogen and biofuels.

NREL Director Dan Arvizu said in a statement: "NREL operated the Aquatic Species Program for the Department of Energy for nearly 20 years, giving us unique insights into the research required to produce cost-effective fuels from algal oils or lipids. Our scientists have the advanced tools and the experience to rapidly increase the yield and
productivity of key species of algae. In Chevron we have found an ideal research partner with the skills and knowledge to transform these algal lipids to cost-competitive fuels and to distribute those fuels to consumers."

"Chevron believes that nonfood feedstock sources such as algae and cellulose hold the greatest promise to grow the biofuels industry to large scale," said Don Paul, vice president and chief technology officer for Chevron Corp.

Algae are considered a promising potential feedstock for next-generation biofuels because certain species contain high amounts of oil, which could be extracted, processed and refined into fuels using available technology. Other benefits of algae as a potential feedstock are their abundance and fast growth rates. Key technical challenges include identifying the strains with the highest oil content and growth rates and developing feasible growing and harvesting methods.

Chevron expects to spend about $2.5 billion on alternative and renewable energy technologies and energy efficiency services between 2007 and 2009.

For more information: Chevron and U.S. Department of Energy's National Renewable Energy Laboratory

Posted by Martin Romjue at 10:01 AM | Permalink | Comments (0)

CAREFUL WITH YOUR CANINES: The owner of Hermosa Beach-based Studly Pooch, a grooming salon, recently offered some advice for area dog lovers and owners looking for boutique pet services, such as doggie daycares, bakeries, spas, custom products, etc. Wes Murph, who was featured in the Feb. 12, 2007 edition of Business Monday in the Daily Breeze, cautions about owners needing to be more careful when considering the qualifications of dog service providers. To read the story, click here. You can read Murph's advisory statement below.

From Wes Murph:

"The pet industry has boomed over the past ten years into a $42 billion industry. Doggie boutiques, dog daycares, dog bakeries and the like are cropping up all over the country. Dogs can even get spa treatments, homecooked meals and customized clothes. All is not rosy for our furry friends though. With all the services and products being offered, pet owners need to be more vigilant than ever before.

"Here's why: There are no regulations or continuing education requirements for many pet care providers. Dog trainers are not required to follow any national standards or schooling. Pet groomers are also not required to be
licensed or follow any guidelines."

So Murph has developed a free guide for concerned pet owners. Titled, "How To Choose A Pet Groomer," it features the following:

The 4 Fears Pet Owners Have About Selecting A Pet Groomer
How To Avoid 3 Pet Grooming Rip Offs
5 Costly Misconceptions About Pet Grooming
3 Mistakes To Avoid When Choosing A Pet Groomer
4 Steps To Getting Your Pet Safely Groomed

To get a free copy go to www.TheStudlyPooch.com or contact Wes Murph at 310-376-7033 or wes@thestudlypooch.com.

Posted by Martin Romjue at 5:35 PM | Permalink | Comments (0)

Northrop Grumman Corp.'s Defense Support Program
was awarded the 2007 Aviation Week Program Excellence Award in the
Production/Sustainment category, the defense firm said Tuesday.
The award is presented annually to recognize "best practices" in program leadership,
Designed and built by Northrop's Redondo Beach-based Space Technology sector, the Defense Support Program is the main element of the U.S. missile warning system. The first DSP satellite went up in 1970. The 23rd and final satellite could be launched from Cape Canaveral as early as November.

Posted by Muhammed El-Hasan at 3:25 PM | Permalink | Comments (0)

Our format changes this week preclude us from running James Derk's computer advice column each Thursday in print. But we'll be posting it here each Tuesday. In today's column, Derk discusses why Wikipedia is so. . . wicked and worthless.
Truth, beware. Read below.

COMPUTER CENTRAL: Wikipedia has worn out its welcome
By James Derk
ScrippsHoward News Service

One of the most interesting things to arise out of the Internet age is Wikipedia, a self-edited reference manual for
the masses that allows anyone, anywhere, to add content, enrich the effort and generally leave the Web better than they found it.
Well, if only that were true.
I was one of the original fans of Wikipedia, writing enthusiastically about it and even submitting some material and photographs. Today I won’t go near it. What’s changed?
The lure of the site, that anyone, anywhere can contribute to the discourse, is long gone. Wikipedia is now managed by a group of fanatical editors that nit-pick everything from a person’s “worthiness” to be listed to arcane, subtle additions. There are numerous discussion boards on the site where the 1,000 unpaid editors debate endlessly instead of making substantial improvements to the site.
Most schools already have banned Wikipedia from being used as a scholarly research source because the
information can be supplied by anyone and can be involved in “he said/she said” editing wars. Some pages are the subject of “WikiVandals” who like to add fake or destructive information. In some cases this information has remained on the site for months while Wiki’s editors were engaged in “edit wars” about arcane
people or information.
Just editing or adding pages has become a bit of an art, beyond the skill of most traditional computer users, as the site has moved away from its roots. I remember a while back uploading a photograph I took of an experimental, declassified aircraft to Wikipedia and receiving more than 100 thank you notes for doing so because the plane was seldom seen in print and enthusiasts hadn’t seen one in a while and didn’t know where it was being kept.
Despite the photo being clearly labeled as taken by me and offered in the public domain, the photo was removed less than a week later because some editor was unhappy with the license I offered for its use and wanted me to fill
out and upload a legal document. The site was founded with five pillars of behavior, including “be open, be welcoming and be civil.” The site now is none of these things and should be left to the trolls, in my opinion.
Where should you find reliable information? I would start with good old Google. On nearly any topic under the sun you can down your own research courtesy of the world’s most effective search engine. There you can find peer-reviewed or at least professionally edited publications for the information you seek. Google’s search patterns (rewarding sites for being linked to) helps push reputable information to the top.

WEEKLY WEB WONDER: If you don’t find what you like on Google by yourself, I would suggest ChaCha (www.chacha.com) that offers you a human guide (an expert in online research) for your search. I think this
service is phenomenal and the times I have tried it I was very impressed with the quality of help I received.

James Derk is owner of CyberDads, a computer repair firm and tech columnist for Scripps Howard News Service. His e-mail address is jim(at)cyberdads.com.

Posted by Martin Romjue at 12:57 PM | Permalink | Comments (0)

TAXLESS ACCESS: E-mailing and instant messaging won't cost you -- for at least seven more years. Congress has extended tax exemptions for Internet users, maintaining a key incentive for online communications and commerce. Netizens will get a lucky 7-year break from politicians trying to decide whether to pinch the goose that lays the golden retail eggs. . . Associated Press story below.

Internet tax moratorium bill goes to President Bush
By JOHN DUNBAR
Associated Press Write

WASHINGTON — A bill to extend a moratorium on Internet access taxes for seven years was approved 402-0 by the House Tuesday, less than two days before it was set to expire. The House initially approved a four-year ban, but last week the Senate passed a seven-year prohibition, despite considerable support for a permanent ban.
“Seven years is better than nothing, and that’s what we’re doing today,” said Rep. Fred Upton, R-Mich, during remarks on the House floor.
A House bill that would make the moratorium permanent has 238 House co-sponsors, more than a majority. The tax ban, first approved in 1998 and twice renewed, is set to expire Nov. 1. Support for a permanent ban was strong in both the House and Senate, but concerns over the potential long-term impact on state and local governments forced a compromise. The provision amounts to a moratorium on state and local taxes, said David Quam, director of federal relations with the National Governors Association. And with the Internet changing rapidly, the
issue should be revisited periodically, he said.
“The implications could be pretty severe down the road if they got that wrong,” he said. “It’s actually a decent compromise that state and local governments and industry helped craft.” Rep. Linda Sanchez, D-Calif. called the bill “bipartisan legislation at its best” and noted it was supported by businesses, state and local government organizations and labor unions.
In addition to lengthening the ban from four years to seven years, the legislation also contains a provision aimed at preventing state and local governments from assessing taxes beyond those levied on simple Internet access. At the urging of Sen. Ron Wyden, D-Ore., the legislation specifically prohibits taxation on e-mail and instant messaging services “that are provided independently or not packaged with Internet access.” The extension also exempts some states that approved taxes prior to the original enactment. Sen. John Sununu, R-N.H., supported
a permanent ban, but helped craft the seven-year compromise. “Seven years is better than we’ve ever done before,” he told The Associated Press. “I think that’s an important place to start.”
The bill now goes to the White House for President Bush’s signature.

Posted by Martin Romjue at 10:29 AM | Permalink | Comments (0)

Pelican Products, the Torrance-based maker of hardened equipment cases and flash lights, opened a new manufacturing sight in Europe, the company said.
The Crottendorf, Germany, facility will produce six of the company's most popular Protector Case models to be sold in the European Union, central Europe, Russia and other former Soviet Bloc nations. Additional models will be added to the German facility's production schedule in coming years.
The new European factory will allow deliveries to the continent in half the time, the company said. The move also frees production capacity at the Torrance factory for North American customers.
To learn more, visit the company's Web sit.

Posted by Muhammed El-Hasan at 10:01 AM | Permalink | Comments (0)

STOCKS/MUTUAL FUND FURY: We're getting a moderate level of perturbed calls this morning from readers missing the one page of stocks and mutual funds listings we used to publish Tuesdays through Fridays in the business section. Instead, we are running a quickie strip of market summaries from the day before. And that's the linchpin phrase to remember: DAY BEFORE. It explains a lot. . . .

The Daily Breeze has gradually cut its market table listings from a high of three pages in the late 1990s to the quickie strip you see today. All listings are available through www.dailybreeze.com.

So how did it get to this point? And why did we do such a thing?

1) The growing pervasiveness of the Internet makes it possible to check any stock, any mutual fund at any time on a myriad of Web sites and sources. For investors, that has become the preferable way to track stocks and mutual funds. Why wait til morning when you can get it now?

2) Those big, gray pages of type eat up a lot of money and space. As newspapers must deal with a wider and more ferocious media landscape, we have to focus on those things we do best and most efficiently. That's clearly delivering local news and information, in print and online, and bringing the wider region and world to readers. Those stocks/mutual fund pages instead can be used for attractive, well-designed pages of useful information.

3) We live on the West Coast. By the time you open up the paper at 6:30 a.m. or later, the financial markets in New York are actively trading. Any market quotes from the DAY BEFORE are old news.

4) Web sites and 24/7 cable business news channels do a better job of delivering detailed market information. That's the new world we live in. In this case, acceptance is preferable to resistance.

Posted by Martin Romjue at 10:00 AM | Permalink | Comments (0)

HELP HAND OUT A HONDA: Know of anyone in the South Bay who has helped a community, or made a difference in the lives of others? They could not only get some deserved recognition, but a new Honda as well. Find out more. . .

Thursday is the deadline to submit nominations for the Honda Helpful Awards, established by the Southern California Honda Dealers Association to recognize people in Southern California who have had a positive effect on the community. Three winners chosen by the association will receive new cars.

Nominations can be submitted in person at participating Honda dealerships or online at this Web site.

Each nomination must explain the positive work the person has done in the community and its results; how a new Honda would help the nominee and what model would help them the most. The awards are part of an advertising and marketing program, the Southern California Honda Helpful campaign, which the Southern California Honda Dealers Association began in January to encourage “helpfulness” in Southern California communities.

In addition to TV, radio and online advertising, the campaign has been promoted by the Honda Helpful Guys and Girls in Blue, who have traveled around Southern California distributing water bottles during the summer, helping
people carry bags at supermarkets, bringing lunch and coffee to lifeguards and firefighters, and treating Honda customers to free gas. The cars will be awarded during a January 2008 ceremony in Los Angeles.

American Honda Motor Co. is based in Torrance.

Information: Southern California Honda Dealers Association can be reached at 310-397- 9025.

Posted by Martin Romjue at 5:25 PM | Permalink | Comments (0)

STRONG SOURCES. Leading Southern California housing industry CEOs declare worst still ahead in housing market: falling prices and values, cautionary lending, high inventories, rising defaults, possible recession. The CEOs analyzed the situation Monday during an annual economic conference in Beverly Hills sponsored by the Milken Institute, a global economic think tank based in Santa Monica. More below. . .

By ALEX VEIGA
AP Business Writer

BEVERLY HILLS — The chief executives of Countrywide Financial Corp. and KB Home predicted more trouble ahead for the nation’s slumping housing market on Monday, calling on lawmakers to expand financing for home buyers.
The remarks from Angelo Mozilo of Countrywide, the nation’s largest mortgage lender, and Jeffrey Mezger of KB Home, one of the biggest homebuilders, came during a panel discussion hosted by the Milken Institute on the economic impact of the subprime mortgage meltdown.
Asked if the worst was over, Mozilo said, “No. I don’t think so.”
Last week, Countrywide reported a $1.2 billion loss in the third quarter, but its shares soared after the company said it expects to be profitable this quarter and next year.
Mezger, also KB Home’s president and director of the board, offered a similarly downbeat outlook.
“We anticipate things are going to stay tough for quite some time,” he said.
Earlier this year the number of defaults and foreclosures among home loans, particularly subprime mortgages taken out by borrowers with past credit problems, spiked.
That sent a jolt through financial markets as investors pulled back from buying mortgage-backed bonds and other securities. The resulting credit crunch left Countrywide and other lenders scrambling for cash to keep funding loans.
“Falling values is what continues to be the problem here,” said Mozilo, also Countrywide’s chairman. “And as long as values keep on falling, the subprime situation will get worse and begin to spill into prime (loans).”
Calabasas-based Countrywide originated about 7 percent of all subprime home loans in the U.S. last year.
The housing slowdown has forced Los Angeles-based KB Home and other major homebuilders to slash prices to help combat a glut of unsold new and resale homes on the market.
“It’s going to take quite some time for the inventory to clear,” said Mezger, referring to the stock of unsold homes.
Both Mozilo and Mezger said they want the government to lift loan limits on government-sponsored operations such as Fannie Mae, Freddie Mac and other federal home loan banks. The government firms buy blocks of mortgages from lenders and then pool them into securities for sale on Wall Street.
Currently, the limit is $417,000, far below the median sale price in expensive states such as California.
Many lenders have cut back on originating loans above the limit because the loans aren’t eligible for sale to the government banks. As such, raising the limits would help lenders fund more loans to would-be buyers and thereby stimulate more home sales, supporters say.
Mozilo said the Federal Reserve’s rate cut last month will help, but the government must do more. He complained the onus to help borrowers has “all been placed on the lending community.”
Countrywide said last week it would step up loan modifications and other efforts for some 82,000 adjustable mortgage loans slated to reset to a higher interest rate and higher monthly payments.
Ross DeVol, director of regional economics for the Milken Institute, said the combination of declining home sales, rising oil prices and the credit crunch has brought the nation to the brink of recession.
“We’re right there,” DeVol said. “If anything else goes wrong, we’re probably in a recession.”
Shares of Countrywide slipped 47 cents, or 2.7 percent, to $16.83 on Monday. KB Home shares rose 25 cents, or nearly 1 percent, to $27.83.

Posted by Martin Romjue at 5:07 PM | Permalink | Comments (0)

Of interest to employees at Boeing Satellite Development Center in El Segundo; Boeing factories in Long Beach; and aerospace company investors regionwide:

CHICAGO (AP) — Boeing Co. said Monday its board of directors authorized the repurchase of up to $7 billion in common stock, stepping up a program that has seen the aerospace company buy back about $8 billion of its shares since resuming repurchases in 2004. Read more below.

The new plan follows a $3 billion buyback approved by the board in August 2006, a program the company said is nearing completion.
“Our strong financial performance allows us to return value to our shareholders while continuing to invest in our growth and becoming more productive,” said Chairman and CEO Jim McNerney. “We are executing a balanced cash deployment strategy that’s serving Boeing and its shareholders well.”
Boeing’s stock has climbed steadily since recovering from a slide following the 2001 terrorist attacks, which dealt a
blow to its airline customers. Shares have quadrupled since early 2003 and more than doubled from pre-attack levels.
The stock jumped following the announcement and was up 96 cents, or 1 percent, to $96.98 in afternoon
trading.
Boeing said the share repurchases will be made on the open market or in privately negotiated transactions. The company also declared a regular quarterly dividend of 35 cents a share, payable Dec. 7 to shareholders of record as of Nov. 9.

Posted by Martin Romjue at 1:05 PM | Permalink | Comments (0)

MORTGAGE-MASTER SEES TROUBLE AHEAD: The worst is likely ahead for the housing market, warns Countrywide Financial Corp. CEO Angelo Mozilo. Mozilo, who heads the besieged Calabasas-based mortgage company, spoke this morning at the Santa Monica-based Milken Institute's annual State of the State Conference at the Beverly Hilton. The Associated Press reports below:

BEVERLY HILLS — Countrywide Financial Corp.s’ chairman and CEO says he believes there’s more trouble ahead for the nation’s slumping housing market.
Angelo Mozilo said Monday that he didn’t think the worst is over.
He says a big problem is loans given to customers with poor credit history. Mozilo says the so-called subprime market will only worsen if home values continue to fall.
He’s calling on lawmakers to do more to help home buyers gain access to credit.
The head of the country’s largest mortgage lender made his comments during a panel discussion in Beverly Hills.
Last week, Countrywide reported a $1.2 billion loss in the third quarter. But its shares soared after the company said it expects to be profitable this quarter and next year.

Posted by Martin Romjue at 12:08 PM | Permalink | Comments (0)

OSI Systems, the Hawthorne-based security and healthcare electronics firm, has received a phase 3 contract order for about $14 million.
The contract for OSI's Optoelectronics and Manufacturing division is from EDO Corp. for delivery of electronic sub-assemblies to be used by EDO in its "CREW 2.1" vehicle-mounted electronic jamming systems currently being built for the U.S. Department of Defense.
OSI had previously received phase 1 and phase 2 contracts from EDO for $5 million and $22.1 million, respectively.
To learn more, visit OSI's Web site.

Posted by Muhammed El-Hasan at 10:39 AM | Permalink | Comments (0)

BURNED CAR? Know anyone who is paying off a Toyota and lost a home to the wildfires? At least the car payment won't be due right away. Torrance-based Toyota Financial Services is offering several payment relief options for drivers of leased or owned Toyotas who are dealing with the wildfire disaster in Southern California. Affected drivers in Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Barbara and Ventura counties may explore the following options and get more information (see below). Here is the Web site.

Some of the options include:
1) extensions and lease deferred payments
2) redirecting billing statements
3) arranging phone or on-line payments

For more information:
Toyota Financial customers should call 1-800-874-8822
Lexus Financial customers should call 1-800-874-7050.

Also, residents in those areas who lost cars and need new ones can take advantage of a 180 Day Deferred First Payment Program. This program is available through participating Toyota and Lexus dealers and TFS.

Toyota Motor Sales USA Inc. of Torrance and Toyota Financial Services also have contributed $2 million to the disaster relief efforts of the American Red Cross. Toyota Material Handling USA is donating Toyota lift trucks and pallet jacks to unload and distribute relief supplies.

Posted by Martin Romjue at 10:37 AM | Permalink | Comments (0)

Carson-based aerospace parts maker Ducommun Inc. posted higher sales and profits for the third quartes, the company said Monday. Sales were up 16 percent to $94.7 million, compared to $81.6 million, in the third quarter of last year, the company said. Net income for the third quarter, which ended Sept. 29, were $5.8 million, or 55 cents per diluted share, compared to $4.1 million, or 40 cents per diluted share.
Third quarter company sales rose mainly because of an increase in commercial sales. The third quarter business mix included 60 percent military, 38 percent commercial and 2 percent space. A year earlier, that mix was 66 percent military, 31 percent commercial and 3 percent space.
To learn more, visit Ducommun's Web site.

Posted by Muhammed El-Hasan at 10:05 AM | Permalink | Comments (0)

The South Bay's most notorious former company and major employer, Nissan North America Inc., has seen its fortunes sag during the past year. The No. 3 Japanese automaker, which left Carson by July 2006 for cheaper climes near Nashville, Tenn., reports higher sales, but slower profits. Despite downsizing, moving and shuffling execs, it has yet to best its competitors, Toyota and Honda, which are the leading Japanese carmakers and have major American operations based in Torrance. Toyota and Honda also consistently score higher than Nissan on Consumer Reports and J.D. Power auto rankings for reliability and quality. For latest profit report, read below.

By YURI KAGEYAMA
AP Business Writer

TOKYO -- Nissan reported Friday a 27 percent decline in profit for the July-September quarter on one-time expenses and higher taxes that eroded overall sales growth and improved earnings in core auto operations.
Profit at Nissan Motor Co. for the fiscal second quarter totaled 120.1 billion yen ($1.05 billion), down from 164 billion yen the previous year.
Sales at Japan’s No. 3 automaker surged 13 percent on year to 2.618 trillion yen ($22.9 billion), as sales grew in the U.S., Europe, Russia and China. Nissan sold 941,000 vehicles worldwide, up 6.6 percent compared with a year ago.
Nissan Chief Executive Carlos Ghosn said the company is coming out of a lull to start its next stage of growth as it expands in emerging markets and launches models, and better results can be expected soon.
“With many further exciting products to come, Nissan is back on track towards sustainable profitable growth,” he said. “You can expect more in the second half.”
Nissan maintained its forecast for the full fiscal year ending March 2008 at 480 billion yen ($4.20 billion) profit.
Analysts say that how the company holds up for the rest of the year may be critical.
If Nissan falls short of its targets for this fiscal year, it would be the second straight year of missing its goal, said Tsuyoshi Mochimaru, auto analyst with Lehman Brothers in Tokyo.
“And that’s at a company that has built its management reputation by meeting commitments,” he said, referring to Ghosn’s style of setting clear goals to assess performance.
Mochimaru also believes the pressure is on Nissan because Japanese rivals, ToyotaZZTO Motor Corp. and HondaZZTO Motor Co., are doing so well.
On Thursday, HondaZZTO said its profit shot up 63 percent. ToyotaZZTO, running neck and neck in global vehicle sales with No. 1 General Motors Corp., reports earnings Nov. 7.
What hurt results was the absence of tax breaks the company got the same period a year ago, according to Nissan. Extra expenses for the latest quarter for an early retirement package in Japan also trimmed profits, it said.
Tokyo-based Nissan, which makes the Altima sedan, Infiniti luxury model and GT-R sports car, had fallen behind rivals in research during hard times. It marked a turnaround from near collapse under an alliance with Renault SA of France set up in 1999.
Ghosn said Nissan was investing in technology, including new engines and safety features, which are being introduced in products. Nissan is focusing on electric cars, which will be commercially mass marketed by 2012, and Nissan is preparing its original hybrid car by 2010, he said.
In the fiscal first-half, Nissan introduced seven products worldwide, including the Altima coupe and X-Trail sport-utility vehicle, and four more are in the pipeline this year, including the GT-R and Infiniti EX, the company said.
For the half-year, Nissan’s profit fell 23 percent to 212.4 billion yen ($1.86 billion). Sales for the first six months of the fiscal year rose 12 percent to 5.064 trillion yen ($44.31 billion), as vehicle sales edged up 6 percent to 1.82 million vehicles around the world.
Nissan shares rose 3.2 percent 1,124 yen ($9.83) in Tokyo shortly before earnings were announced.

Posted by Martin Romjue at 9:30 AM | Permalink | Comments (0)

Toyota will mark its 50th anniversary in the US on Oct. 31. Watch for the story in the Daily Breeze.

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PUT DOWN THE BUSINESS PAGE: And get online at www.dailybreeze.com. The South Bay's premiere media organization launches its Web blog this week for local business news -- and news from beyond. Check for updates each weekday. No more worries about all the news that's fit to print. Here, the news doesn't have to fit. Or print. Just click, read and respond. . .

Posted by Martin Romjue at 6:00 AM | Permalink | Comments (0)