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Technical Difficulties on Rocket Boeing Co.’s Rocketdyne facility in Canoga Park is experiencing technical problems on its component for a revolutionary rocket engine. Those problems will delay delivery of the engine by seven months and add $36 million to its cost. Rocketdyne is a subcontractor working on the X-33, a reusable rocket plane that is a key to NASA’s effort to develop a low-cost vehicle for launching payloads into space. Rocketdyne is having troubles with bonding high-temperature parts to the engine. The X-33 is an experimental project intended to lead to production of a replacement for the space shuttle fleet. The lead contractor on the $941 million project is Lockheed Martin Corp. PacificAmerica Halts Subprime Lending Amid turmoil in the subprime lending market, Woodland Hills-based PacificAmerica Money Center announced Oct. 28 that it is folding its wholesale loan division, which accounted for 75 percent of its business. The mortgage lender, which has specialized in loans to people with credit problems, will focus on retail loans. The company had $235 million in revenues from wholesale loans in the third quarter ended Sept. 30, and took in $86 million from retail loans in that period, company officials said. PacificAmerica expects to take a big hit in its fourth quarter. Public Storage Sees Higher Income Public Storage Inc. reported that its net income rose to $62.3 million (37 cents per diluted share) for the third quarter ended Sept. 30, up 33 percent from $46.5 million (27 cents a share) in the same period last year. Revenues generated by the Glendale-based real estate investment trust rose 19 percent to $150 million in the quarter, from $126 million in the year-ago period. The company attributed the increases to higher rents, which offset losses from its new pickup and delivery services. Those newly added services involve Public Storage bringing storage containers to customers’ homes or offices, where the customer fills them. Public Storage then picks up those filled containers and delivers them to one of its storage locations. Public Storage said average rents at its facilities rose 9.1 percent over the past year, to $10.08 a square foot. The average occupancy rate at its facilities remained steady at 93.6 percent.

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