California utility customers will foot the bill for a $600-million global-warming think tank under a Public Utilities Commission program that critics say is a costly and questionable departure from the agency’s mission to make sure ratepayers get affordable and reliable power. The California Institute for Climate Solutions, approved Thursday, was pushed by commission President Michael Peevey, and the concept behind it — accelerating research into ways to quickly cut harmful greenhouse gas emissions — enjoyed broad support. Gov. Arnold Schwarzenegger praised the commission for creating the institute, which “will bring together the state’s preeminent colleges, universities and laboratories to fight climate change.” For the full story visit http://www.latimes.com/business/la-fi-institute11apr11,1,6877955.story

U.S. retail sales were disappointing in March — and people probably aren’t changing their spending habits this month. “I don’t think April’s going to be any better,” Britt Beemer, chairman of America’s Research Group, said Thursday after the March numbers were released. Sales fell 0.5% to $65.6 billion at stores open a year or more, according to the International Council of Shopping Centers’ tally of 37 national chains. For the full story visit http://www.latimes.com/business/la-fi-retail11apr11,1,2488031.story

American Airlines canceled nearly 600 more flights across the U.S. today as part of its MD-80 jet fleet remains grounded for maintenance checks. The carrier said it expects to have the last of its 300 MD-80s inspected and back in the air by late Saturday, raising hopes that its snarled route system will be back to normal by Sunday morning. Meanwhile, the parent of discount carrier Frontier Airlines became the fourth airline in a month to file for bankruptcy protection, although the Denver-based carrier said it would continue flying. For the full story visit http://www.latimes.com/business/la-fi-american12apr12,1,5746507.story

WASHINGTON — — With the Senate poised to take new action on the mortgage crisis and the House at work on far more sweeping proposals, the Bush White House is grudgingly giving ground on its ideological opposition to government intervention in the marketplace. After months of reluctance to pressure lenders to write down the principal on troubled mortgages, the administration announced Wednesday that it is now willing to do just that. Expanding an existing program, the Federal Housing Administration will allow borrowers who are behind on their payments and owe more on their homes than they are worth to refinance with a federally insured loan. For the full story visit http://www.latimes.com/business/la-fi-assess10apr10,1,2024693.story

Capstone Turbine Corp. received a $2 million order for its microturbine energy systems for distribution in South Korea. The order with Samsung C & T; Corp. gives Chatsworth-based Capstone further momentum in the Asian market, the company said. “South Korea is among the world’s most technologically and scientifically advanced nations and continues to enjoy a growing economy,” Capstone President and CEO Darren Jamison said. “Thus, we are very pleased that after much evaluation, Samsung C & T; Corporation continues to distribute and install Capstone microturbines.”

American Airlines canceled more than 900 flights today to fix faulty wiring in hundreds of jets, marking the third straight day of mass groundings as company executives offered profuse apologies and travel vouchers to calm angry customers. Other carriers operating similar aircraft also left passengers scrambling for alternatives as they too canceled flights to inspect the wire bundles at the heart of a renewed safety crackdown by the Federal Aviation Administration. Alaska Airlines canceled 11 more flights early today as it continued to inspect its nine MD-80 jets. Spokeswoman Caroline Boren in Seattle said today’s cancellations follow 28 Wednesday and three on Tuesday. The airline was working to accommodate all affected passengers, she said. For the full story visit http://www.latimes.com/business/la-fi-american11apr11,1,5287753.story

Programming from Image Entertainment Inc. will be shown for in-flight movies and on merchant sea vessels after inking a deal with Jaguar Distribution Corp. The two-year deal between Chatsworth-based Image and Jaguar, in Studio City, covers short form, theatrical and non-theatrical releases. In-flight viewing has become a major distribution outlet for films and television shows and Jaguar has the connections to bring Image programming to that marketplace, Steve Saltman, senior vice president of worldwide television for Image. “There is strong demand not only for feature films, but for short form content as well, such as music concerts and comedy specials,” Saltman said. Image’s current and classic libraries of feature films, comedy specials and music meets the needs for a culturally broad airborne audience of all ages, said Jaguar President Jeff Klein.

With the zeal of a young entrepreneur, 82-year-old Los Angeles billionaire and philanthropist Alfred Mann has bet nearly half of his estimated $2.2-billion fortune that he can develop an inhaled version of insulin for the nation’s 5 million diabetics. But Mann’s gamble is looking increasingly like a long shot, analysts and doctors say, and his huge personal investment may be in jeopardy. The latest blow came Wednesday when Valencia-based MannKind Corp.’s stock lost almost 60% of its value after pharmaceutical giant Pfizer Inc. said a study showed that its failed version of inhaled insulin might increase the risk of lung cancer. For the full story visit http://www.latimes.com/business/la-fi-mannkind10apr10,1,1936229.story

An inability to deliver orders on time led power conversion product manufacturer Power-One Inc. to downgrade its expectations for the first quarter. The Camarillo-based company updated its guidance for revenues to be in the range of $116 to $118 million compared with the prior guidance of $130 million to $135 million. The company expects a net loss in the range of $0.14 to $0.16 per share versus its previous guidance of net loss of $0.04 to $0.07 per share. Manufacturing inefficiencies and supply chain problems contributed to the inability of Power-One to deliver product on time. The company is implementing plans to address supply chain issues, accelerate transfer of manufacturing to China, and new sales and operations planning processes. Shares of Power-One closed up at $3.32.

The California Motor Car Dealers Association has changed its name to the California New Car Dealers Association. “The new name better reflects who we are: the country’s largest association of franchised new car dealers,” said Peter Welch, CNCDA President. More than 1,350 dealer members are in the group. In 2007, California new car dealers generated 21 percent of all retail sales within the state and collected $5.8 billion in sales tax, according to CNCDA’s 2008 Economic Impact Report, which is available online at www.cncda.org. Bert Boeckmann of Galpin Motors Group is a regional vice president and director with the associates, and Calabasas auto dealer Tim Smith is a director.