LOS ANGELES, CA - OCTOBER 27: The cylindrically-shaped Capitol Records building is seen behind a billboard above the Pantages Theater, near the Hollywood landmark intersection of Hollywood and Vine on October 27, 2008 in Hollywood, California. Preservationists contend that the ongoing tear-down of the Universal Pictures Building, built by studio founder Carl Laemmle on northwest corner of Hollywood and Vine in 1931, is federally illegal. The building has been vacant since it was damaged in an unsolved arson fire in April. As the Universal Pictures Building is being demolished, construction goes forward on the nearby W Hollywood Hotel and Residences construction project over a Metro rail station. In the 1920s, the intersection of Hollywood and Vine became famous as a hub for the Hollywood movie industry and a popular hangout for the celebrities. (Photo by David McNew/Getty Images)