Owner of downtown movie business dies: John McDougall, owner of LA Pro Space and a major figure in Louisiana’s film industry, passed away Friday morning. He was 45. Arrangements are pending. LA Pro Space is a downtown facility that offers short-term office space for the movie industry, providing screening rooms and editing suites.
Some firms sitting out until economy gets better: Forty venture capital funds raised $4.3 billion in the first quarter, the smallest number of funds raising money in nearly six years. According to Thomson Reuters and the National Venture Capital Association, the amount was an increase over the $3.5 billion in venture capital dollars raised during the fourth quarter. Analysts say two factors are at play: a majority of firms are not raising money because they’re waiting for the economy to get better or they’ve raised a fund and venture firms with good track records are still able to get commitments from investors.
Cutting back on dining out, entertainment: Seventy-three percent of people polled in a new survey say they have changed their daily spending habits because of the recession. According to the Capital One survey, which is tied to National Financial Literacy Month, 68% are eating out less often; 62% are cutting back entertainment expenses, such as movies, concert tickets and books, and 54% are canceling or postponing vacation plans. Nearly half of the 1,000 people polled say they are putting less money in their savings and 47% say they are dipping into their savings to cover day-to-day expenses.
