La Llorona unleashed at Universal Studios Hollywood

The Latin American legend of La Llorona has several variations. But most retellings of the story go something like this: There was once a poor woman who drowned her children after she was abandoned by her man. After killing herself, the tormented spirit of the woman wandered the earth, crying out for her dead children. She returned from the dead as La Llorona, Spanish for "the wailer."

This Halloween season, for the first time, Universal Studios Hollywood introduced La Llorona as a character in the annual Halloween Horror Nights (Sept. 24-Oct. 31) in an attempt to connect with Southern California's sizable Latino population.

It's a move that makes sense. The Halloween Horror Nights have become a profitable way for Universal Studios to draw guests to the theme park after the traditional summer tourist season is over. Disneyland in Anaheim and Six Flags Magic Mountain in Valencia also redecorate their parks and hire actors to draw in guests during the Halloween season. But Knott's Berry Farm (a.k.a. Knott's Scary Farm during the Halloween season) is believed to be the first in Southern California to launch the Halloween themed makeover nearly 30 years ago. The park draws about 15% of its guests during the Halloween season, according to Knott's Berry Farm officials.

During a red carpet event at the launch of Universal Studios Halloween Horror Nights, several reporters from Spanish language news programs cornered the actress playing La Llorona for interviews while reporters for English language television shows ran for the reed-thin actresses and well-coiffed actors who attended the event.

-- Hugo Martin

Photo: La Llorona character at Universal Studios Halloween Horror Nights. Credit: David Sprague / For Universal Studios Hollywood

Wall Street Roundup: Flash crash culprits. Hedge fund top dog.

Wall Street wins. Although it didn't garner great reviews, and didn't have much competition, Oliver Stone's new film about Wall Street came out on top in the box-office wars in its first week in theaters.

Madoff associate dies. Bernard Madoff's close Los Angeles associate, Stanley Chais, died Sunday in Manhattan while still under investigation. 

Benefiting from regulation. One report out Monday morning says that big private equity firms such as Blackstone will benefit from the financial reform bill, while another commentator predicts that it will be hedge funds that will be the big winners. 

Flash crash culprits. Ahead of a government report about the May 6 "flash crash," a private firm has done research suggesting that a few trading firms may be to blame. 

Goldman's headquarters trouble. The company that owns Goldman Sachs' London headquarters appears to be defaulting on the property, leading to a seizure of the property by German banks. 

Hedge fund top dog. New York magazine looks at the unlikely man who took the top spot among hedge fund earners last year, David Tepper. 

-- Nathaniel Popper in New York

Video: Joe Flint on how Emmy ballots are counted

Andy Sale will know who wins the Emmys before anyone else, Joe Flint writes today. That's because in his role as partner at the accounting firm Ernst & Young, his clients include the Academy of Television Arts & Sciences. Sale oversees the counting of votes for the prime-time Emmy Awards. Here's how he does it:

Wall Street Roundup: The biggest paydays. Snooki rings the bell [Updated]

Home prices up. Home prices rose in May, though the rise is likely due largely to a tax credit that has since expired.

The biggest paydays. Among the highest-paid chief executives of the last decade, the top name from Wall Street was disgraced Lehman Bros. CEO Richard Fuld, according to the Wall Street Journal. Oracle's Larry Ellison led the list with $1.8 billion over the decade. 

A Hollywood IPO? One of the biggest names in film financing, Relativity Media, may be going public after cementing another big deal, Bloomberg reports.

Snooki rings the bell. It was a proud morning on Wall Street as Snooki and the cast from "Jersey Shore" rang the opening bell at the New York Stock Exchange. 

Wall Street Journal on "Wall Street." The Wall Street Journal provides an early -- negative -- review of Oliver Stone's sequel to his film "Wall Street."  [Updated at 9:45 a.m.: The Wall Street Journal has removed the review of the unfinished movie from its website, posting an apologetic note in its place.]

-- Nathaniel Popper in New York

Special effect: Shares of 3-D firm RealD soar after IPO

Shares of 3-D systems developer RealD Inc. are rocketing Friday in their trading debut, after the Beverly Hills company’s initial public offering late Thursday.

The stock, trading under the symbol RLD, was up $3.69, or 23%, to $19.69 at about 10:20 a.m. PDT. The price spiked as high as $21 when trading began.

RealD and some of its pre-IPO investors sold a total of 12.5 million shares at $16 each. Robust investor demand allowed the firm's brokerage underwriters to boost the number of shares sold by 16% from what was originally planned, though all of the additional shares were offered by existing shareholders: They sold a total of 6.5 million, while the company sold 6 million.

At $16 a share, the IPO was priced above the range of $13 to $15 the company had expected.

RealD licenses its 3-D systems to theaters and develops the technology for use with consumer electronics. The company’s applications also have been used in the military, medicine and for piloting the Mars Rover.

With the 3-D business booming in Hollywood, investors obviously think they’ve got a winner in RealD.

But the seven-year-old firm has yet to turn a profit. It had an operating loss of $39.7 million on net revenue of $150 million in the year ended March 26.

The company warned in the prospectus for the stock sale that “almost all of our revenue is currently dependent upon both the number of 3-D motion pictures released and the commercial success of those 3-D motion pictures.”

In other words, RealD is a bet that the public’s infatuation with 3-D isn’t just a passing fad.

-- Tom Petruno

Hard Rock Cafe set to open on Hollywood Boulevard

 A new Hard Rock Cafe is set to open Monday on Hollywood Boulevard, representing the latest big-ticket tourist magnet to set up shop on the iconic, star-lined street.

The 20,000-square-foot cafe will seat about 500 customers, employ 240 workers and display more than 160 pieces of rock memorabilia.

Among the memorabilia  decorating the cafe's walls are a fedora owned by the King of Pop, Michael Jackson, and hand-written lyric sheets to "L.A. Woman," penned by the Lizard King, Jim Morrison.

Reed Bowlby, the cafe's general manager, said the Hard Rock's corporate executives had been looking for an appropriate location for a new restaurant in Hollywood for years. The cafe replaces a Virgin Megastore that closed last year at that location, only a few doors away from Grumman's Chinese Theater. The nation's first Hard Rock Cafe, at the Beverly Center shopping mall, closed in 2006.

The cafe is the latest multimillion-dollar development to open on Hollywood Boulevard in the past decade.

In 2001, a $650-million retail, hotel and entertainment complex opened at Hollywood and Highland. Last summer, Madame Tussauds, a $55-million wax statue attraction, opened next to the Chinese theater. A  new $600-million high-end W Hotel began operations in January near Hollywood Boulevard and Vine Street.

Hugo Martin

(Photo: Memorabilia designer Carrie Ielfield puts the finishing touches on a display of a dress worn by musician Katy Perry before the restaurant's opening. Credit: John W. Adkisson/Los Angeles Times)

Video: There's one place where 'Toy Story 3' is a flop

It's Russia. Entertainment business reporter Ben Fritz examines why the blockbuster has surprisingly frigid box-office results in one of the hottest international markets for animated movies.

Video: Latest 'Twilight' film expected to eclipse the competition this weekend

Entertainment business reporter Ben Fritz says "Eclipse," the third vampire film in the "Twilight" series, set a record in midnight ticket sales. That's a sign it will dominate the weekend's box office. But will it be bigger than "New Moon"? 

Wall Street Roundup: Home sales down. Hollywood invades Wall Street

Home sales down. Shortly after the government removed tax incentives for home buyers, the sales of existing homes dropped 2.2%, the National Assn. of Realtors reported Tuesday, suggesting how much the market had relied on government support.

Geithner testifies. In congressional testimony, Treasury Secretary Tim Geithner said companies are building up big cash reserves, a promising sign for future economic growth.

Budget director steps down. President Obama's budget director, Peter Orszag, is stepping down -- the first member of Obama's economic team to do so. 

Hollywood invades Wall Street. Citigroup played host to Kevin Spacey and his crew, who are prepping for a movie about investment banking during the financial crisis -- "Margin Call." 

-- Nathaniel Popper

Video: Entertainment news with Joe Flint

Entertainment business reporter Joe Flint gives an update on Lakers/Celtics ratings, who's bidding for CKX, the parent of "American Idol," and network ad sales. Find these and other entertainment stories on the Company Town blog.

Video: Richard Verrier on Universal Studios' rebuilt New York street set

Universal Studios' back lot is rising from the ashes.

The studio on Thursday will unveil its refurbished New York street movie sets that burned down in a fire nearly two years ago. That's good news for the local film industry at a time when Los Angeles is struggling to keep movie and TV productions from leaving the state. After all, reporter Richard Verrier writes, New York is L.A.'s biggest rival and is gearing up to expand its film tax credits.