LOS ANGELES-Homebuilding giant Kaufman & Broad reports strong earnings gains and record sales, but computer-maker Gateway, one of Southland's biggest commercial tenants and employers, announces sharp drop in profits and plans to lay off more than 2,400 workers.

LOS ANGELES-New York-based real estate fund adds to its growing Southern California portfolio with purchase of 590,570-sf industrial project in San Fernando Valley. Deal shows that Southland's industrial market is still red hot.

LOS ANGELES-Partnership acquires the 117-unit Mission Suites complex from a private trust for nearly $30,000 per unit.

LOS ANGELES-In an unusual twist, the county agency that will decide whether secession efforts in the San Fernando Valley and Harbor area will go before voters has accused LA officials of dragging their feet.

LOS ANGELES-The Consumer Products Safety Commission says as many as 140,000 owners of commercial and residential properties in California may have a faulty furnace that's been blamed for at least 100 fires statewide.

LOS ANGELES-An import-export company based in Vernon has signed a five-year lease valued at more than $6 million. The 307,500-sf facility will provide the firm warehouse and distribution space.

LOS ANGELES-California Gov. Gray Davis has outlined a broad plan to end the state's energy woes. His plan would give the state authority to buy or build power plants and even seize privately owned facilities if the shortage gets much worse.

LOS ANGELES-Private group acquires 50,000-sf facility on Hill Street from Manulife Financial Corp., which had foreclosed on the building in 1996.