The flashy shoemaker L.A. Gear, which jumped quickly into the No. 3 spot behind Nike and Reebok, is winding up with a disappointing season. Last December a Marquette University basketball player tumbled to the ground when one of his L.A. Gear high-tops collapsed. Michael Jackson's L.A. Gear line flopped; many pairs were sold at a hefty discount. Last week the company projected that it would lose as much as $6 million in the fourth quarter. For all of 1990, it expects profits of $33 million on revenues of $900 million.
To rebuild L.A. Gear's momentum, chairman Robert Greenberg signed singer Paula...
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