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Beverly Hills, California is a famous city with a population of 35,000. The area was originally settled in 1828 by Maria Rita de Valdez, when it was known as the Rancho Rodeo de las Aguas. In the 1880s the 4,500 acres of the ranch were divided into smaller, 75 acre parcels, which were quickly bought up by developers. Henry Hammel acquired the majority of the available land with his partner, Andrew H. Denker. They planned on building a town there and naming it Morocco, but this did not work out.
Beverly Hills became famous due to the primetime drama “Beverly Hills 90210.” The show portrayed the somewhat affluent lifestyles of the local residents. Many get in over their heads and are only able to escape complete financial devastation with the help of a Beverly Hills bankruptcy attorney.
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Live Nation Entertainment is headquartered in Beverly Hills, and is the only Fortune 500 Company to make this claim. MGM also maintains its headquarters there. The largest employers in the city are the Beverly Hilton Hotel, followed closely by the City of Beverly Hills. Both employ approximately 1,100 workers.
The city rests atop a large oil field, known as the Beverly Hills Oil Field. The field is drilled into diagonally by four urban drilling locations. Former students of the Beverly Hills High School sued the company that maintains the platforms in 2003 over allegations that the drilling operations led to cancer.
While the area is well known for its affluence it is worth noting that many locals are dealing with financial shortcomings due to the current state of the economy. Many have turned to Beverly Hills bankruptcy lawyers for help with turning things around.