Stories for April 2007
Monday, April 30
A boom is coming to Koreatown: At least 2,000 luxury condominiums and several shopping and entertainment complexes are to be built there.
Countrywide Financial Corp.'s Chief Executive Angelo Mozilo now has a securities law named after him, at least by some.
A joint venture is proposing a condominium high-rise that could become one of L.A.'s tallest buildings.
Hilton Hotels Corp. reported first-quarter net income of $95 million (23 cents a share), a 9 percent dip from $104 million (26 cents) from the same period a year earlier.
Beverly Hills officials have renamed the city's industrial zone the "entertainment business district."
Countrywide Financial Corp.'s Chief Executive Angelo Mozilo was paid more than $48 million in salary, bonuses and stock-based compensation in 2006, according to a regulatory filing Friday.
Local veterinary clinics, doctors' group prove solid holdings.
The battle lines are already being drawn as the state takes the first steps to implement AB 32, the landmark greenhouse gas reduction bill signed by Gov. Arnold Schwarzenegger.
Whenever you see a deal involving Los Angeles's Chandler family, you usually see a tax dodge.
DirecTV Group Inc. paid its Chief Executive Chase Carey $6.5 million in 2006, a regulatory filing revealed Friday.
J. Mario Molina's first job was on the faculty of USC; now he's running a health care company specializing in MediCal and Medicaid patients.
Merrill Lynch & Co. Inc. is going Hollywood, in a big way.
Shares in Ducommun Inc. dropped more than 3 percent Monday despite the company reporting strong profits and sales.
Occidental Petroleum Corp.'s first quarter earnings report last week showed only a slight dip from last year despite the company's recent challenges.
Shares in Health Net Inc. dropped more than 3 percent Monday as the healthcare provider said profit and revenues were hurt by sluggish enrollment.
Linda A. Livingstone of Pepperdine asks why more women aren't taking high-level business classes.
L.A.-area executives believe the city is not a good place to do business, according to an annual survey.
DaVita Inc. reported double digit increases in profit and revenues thanks to strong demand for dialysis services.
The Teamsters Union has filed a federal lawsuit in an effort to block a new pilot program allowing Mexican long-haul trucks unrestricted access to the United States.
An ordinance that would allow downtown developers to buy "air rights" so they could increase the size of their projects is drawing intense interest.
Steve Bellamy, founder of the Tennis Channel, plans to launch the Ski Channel in early 2008 thanks to a carriage agreement with Time Warner Cable and the support of four charter advertisers.
The Los Angeles Times saw declines in both daily as well as weekend readership, according to the latest data from the Audit Bureau of Circulations.
Retailers are complaining about slower sales while the Beverly Center escalators are closed during a very long mall upgrade.
As lawmakers consider a ban on plastic grocery bags in Los Angeles, local bag manufacturers prepare to fight back.
Pelican Products Inc. started out making scuba diving equipment and now makes a high-tech flashlight for the Los Angeles Police Department.
Brickman, a New York real estate private equity firm, has purchased the office building at 915 Wilshire Blvd. from Lincoln Property Co. for $117 million.
American Reprographics Co. appointed current Chief Operating Officer and President K. "Suri" Suriyakumar as chief executive officer effective June 1.
Farmer Bros. Co. said Monday that it has acquired privately held Coffee Bean International for $22 million in stock and cash.
Developer Rick Caruso offers $5 million that otherwise would be spent on lawsuits over his plans for a mall at Santa Anita to create a community foundation instead.
Small trucking companies say they may go bankrupt under a proposal to scrap or retrofit 10,000 polluting trucks that service the ports.
Universal Detection Technology Inc., L.A.'s smallest publicly traded company, had an active trading week, with more than 19 million of its half-cent shares changing hands.
The announcement last week that the Los Angeles Times will reduce its newsroom staff by as many as 150 people came with Publisher David Hiller's grim acknowledgment that the cuts "reflect the fundamental and ongoing changes occurring" in the newspaper bus
Charles Crumpley writes that litigation places a cost burden on the economy.
In an attempt to provide added leverage to the grocery workers union in contract talks, Los Angeles' powerful labor movement and its allies among elected officials are exploring ways to use local government to pressure supermarket chains to boost pay and
While dozens of Los Angeles denim designers were making money selling skinny jeans to women sized eight and under, Lisa Rudes Sandel quietly devised a way to dress the rest of the country.
Riordan Lewis & Haden, a private equity firm co-founded by former mayor Richard Riordan, will announce this week that it has closed its most recent fund, RLH Investors II, with $265 million in committed capital.
Sunday, April 29
For more than a decade, policymakers have debated, studied and scoped out a high-speed rail line that would whisk travelers between downtown Los Angeles and San Francisco in 2 1/2 hours.
Friday, April 27
Shares in K-Swiss Inc. tumbled more than 5 percent Friday after the company reported double-digit drops in profits and sales.
Mattel Inc. said it would introduce a Barbie digital-music player and Web site to try to boost sales of the iconic fashion doll.
News Corp.'s popular social networking site MySpace.com launched its test version in China Friday.
Live Nation said Friday that it has bought the remaining stake of licensing company Trunk Ltd. from that firm's founder, Brad Beckerman.
On-location feature film production in Los Angeles declined 22 percent in the first quarter of 2007 compared to the same period last year, marking the second largest year-to-year decline on record, according to data released by FilmL.A. Inc.
Fifteen years after the 1992 riots, South Los Angeles has seen dramatic population shifts , but frustratingly little economic progress.
Toyota Motor Corp. says its Prius gasoline-electric hybrid car gets about 55 miles to the gallon, making it one of the most fuel-efficient cars on the road. That's not good enough for Takashi Toya.
Solid earnings propelled Teledyne while analysts' upgrades fended off poor earnings for Stamps.com and Cheesecake Factory. Wilshire Bancorp and Skechers were bit by poor earnings while Enova dropped from a 52-week high.
Thursday, April 26
A Santa Monica-based development team has bid $41 million to purchase the lease to the Queen Mary and its surrounding property, signalling a strong start to what could become a bidding war for the oceanfront acreage as early as this summer.
Korn/Ferry International named a new chief executive and will separate the roles of chairman and chief executive in a move to further grow its business, the Los Angeles executive recruitment firm said Friday.
Toymaker Jakks Pacific Inc. hit a 52-week high during trading Thursday after the company reported impressive first quarter earnings boosted by strong sales.
Computer Sciences Corp. is buying information technology service provider Covansys Corp. in a $1.3 billion cash deal.
Fremont General Corp. employees have filed a federal lawsuit against the company, claiming they lost millions of dollars on company stock in their retirement plan while executives sold off millions of shares to stave off big losses.
In a rebuke of the Bush administration's environmental policy, Gov. Arnold Schwarzenegger threatened Wednesday to sue the federal government if it does not decide by October whether to allow California to regulate greenhouse gas emissions on new vehicles.
Hilton Hotels Corp. has agreed to sell as many as 10 hotels to Morgan Stanley for $770 million, the Beverly Hills-based hotel owner and operator said Thursday.
Earnings at Countrywide Financial Corp. plummeted in the first quarter amid the meltdown of the subprime lending sector.
Indymac Bancorp posted better-than-expected first quarter earnings amid a frigid mortgage market further chilled by slumping home sales.
The Federal Bureau of Investigation has scrapped controversial plans to build a new Los Angeles headquarters office at the site of the Federal Building in Westwood, the Business Journal has learned.
Wednesday, April 25
California is once again in the bottom tier of states for its business legal climate and Los Angeles was again named the least fair litigation environment of any metropolitan area.
Shares in Teledyne Technologies Inc. soared nearly 13 percent Wednesday after the company announced double-digit increases in profit and sales thanks to higher operating margins.
Shares in casual dining chain Cheesecake Factory Inc. soared more than 10 percent Wednesday after analysts upgraded its stock despite mediocre first quarter numbers.
The Tribune Co. began buying back $4.3 billion in stock Wednesday as the media conglomerate starts the process for going private.
Shares in Skechers USA Inc. fell sharply in after-market trading Wednesday when the shoemaker reported record first quarter sales that failed to meet Wall Street expectations and lowered its second quarter forecast.
The extreme low-fare airline (with $10 tickets) already well established in Europe, will try for a comeback in the United States on May 22 with a well-financed start-up, Skybus Airlines.
FirstFed Financial Corp. reported first-quarter net income of $32 million, a 5 percent jump from $31 million for the same period a year earlier.
Walt Disney Co. said it will change the name of its Buena Vista film division to one incorporating the name "Disney" within the next few weeks, Bloomberg News reports.
Casual dinning chain operator IHOP Corp. reported a 10 percent dip in first quarter profit as financing costs lowered its bottom line.
Over the strong objections of Disney and dozens of tourist officials, the Anaheim City Council voted 3-2 early this morning to approve a controversial residential project in the city's resort district.
Home sales in California plunged an annual 20.8 percent during March in response to rising mortgage rates and tighter lending-standards, a trade association said Tuesday.
Tuesday, April 24
On a Friday morning last November, Justen Deal, a 22-year-old Kaiser Permanente employee, sent an email throughout the giant health maintenance organization blasting the company's leadership.
Jacobs Engineering Group Inc., bolstered by strong order activity, reported earnings Tuesday that exceeded Wall Street expectations.
East West Bancorp Inc. of Pasadena has agreed to acquire Desert Community Bank for approximately $142 million in stock and cash.
Slumping crude prices and chemical sales pushed down Occidental Petroleum Corp.'s first quarter earnings.
Shares in Northrop Grumman Corp. dipped nearly 2 percent as the defense contractor reported meek earnings that missed analysts' expectations.
Gary Scott Thompson, writer and executive producer of the NBC show "Las Vegas," won't be taking a summer hiatus. Instead, he'll be working out scripts for next season's episodes as a hedge against a potential Hollywood writers' strike.
Bertelsmann AG paid rival music labels EMI and Warner Music Group $110 million to settle lawsuits over its backing of online music service Napster.
Strong European sales helped Avery Dennison Corp. post a strong first quarter, beating analysts' predictions.
The Los Angeles Times announced Monday that it would offer voluntary buyouts in hopes of cutting its staff of 2,775 by as many as 150 employees , seven months after two of the paper's top executives spoke out against such cuts.
Monday, April 23
Sales and leasing activity in the Santa Clarita Valley in the first quarter.
Sales and leasing activity in the Inland Empire in the first quarter.
If the avian flu hits the L.A. area, business leaders will have to think in ways they've never thought before, according to George Abercrombie.
Sales and leasing activity in L.A.'s Wilshire Corridor in the first quarter.
The Los Angeles real estate community is still abuzz over the $500 million sale of 9900 Wilshire Blvd. in Beverly Hills the planned site of an ultra-luxurious condominium project designed by Pritzker Prize-winning architect Richard Meier.
As part of the California Supreme Court's unanimous decision in Murphy vs. Kenneth Cole Productions, the court ruled that employees can sue their companies for up to three years of lost wages.
Marina del Rey, Playa Vista and the surrounding environs are experiencing an office boom, partly due to price as rents rise nearby.
What normally would have been considered disappointing results from a study of Amleading anemia drug was perceived as good news last week, sending share prices upward.
Southern California Edison Co. this summer will start installing high-tech meters that eventually will allow the utility to charge its customers higher rates during summer peak usage.
Land-speed racer Gale Banks is placing a new emphasis on alternative fuels at his Azusa engineering company.
Amgen Inc. reported higher first-quarter profit, lead by increased sales of its anemia and infection drugs, but forecast that full-year profit for 2007 would be at the low end of expectations.
Sales and leasing activity in L.A.'s South Bay area in the first quarter.
Since morphing from a business news site into a business ad network in 2002, Business.com has built itself into a powerhouse.
Presidential candidate John Edwards may have hurt himself with his $400 haircut. But he helped Torrenueva Hair Designs on Wilshire Boulevard, where he got his costly coiffure.
Sales and leasing activity in the Tri-Cities area in the first quarter.
Online music retailer Napster Inc. announced that it will go to Japan for the first launch of its wireless music subscription service.
After several stalled deals, the Hollywood Palladium has been sold to Newport Capital Advisors for about $68 million, the Los Angeles Business Journal has learned.
Sales and leasing activity in L.A.'s Mid Cities area in the first quarter.
Sales and leasing activity in Downtown area in the first quarter.
Sales and leasing activity in the San Fernando Valley in the first quarter.
Steve Soboroff has overseen the rapid growth of the Playa Vista project since October 2001 after a failed bid for mayor.
The Food and Drug Administration has known for years about contamination problems at a Georgia peanut butter plant and on California spinach farms that forced one of the biggest product recalls in U.S. history, documents and interviews show.
Since taking office, Insurance Commissioner Steve Poizner has participated in fraud raids and directed aid to farmers hit by the freeze.
Nielsen plans to roll out a new service to measure TV viewers outside of the home. Coverage will start in September in six major U.S. cities, including Los Angeles.
The community is coming to life on a model of new urbanism.
Sales and leasing activity in L.A. County in the first quarter.
Eye implant maker Staar Surgical Co. said it expects to report first-quarter revenue of $14.8 million to $14.9 million, up 11 percent from a year ago. That's slightly below Wall Street expectations.
Women now comprise more than half of the audience at the most successful scary films.
Boris Yeltsin will go down in history a good bit better remembered than he is today.
When investors gather in two weeks for the Berkshire Hathaway annual meeting, a nagging question will be who might someday replace Warren E. Buffett in each of the two roles he plays.
After hearing about presidential candidate John Edwards' $400 haircut, Charles Crumpley wonders about the psychology of exorbitant pricing.
Sales and leasing activity in Ventura in the first quarter.
TVN Entertainment Corp. is on the odder edge of programming: the Karaoke Channel, for example.
Darren Williams, CEO of Wescom credit union, says his sector offers better financial services than banks.
Steve Murphy's "Insider Exclusive" is a TV show blending the talk format with infomercials for lawyers.
The Southern California region is now second only to Silicon Valley in venture capital investments, according to a first quarter report by Ernst & Young LLP and Dow Jones VentureOne.
Randi Ragan decided women would appreciate facials and pedicures at home: hence Green Bliss Eco Spa.
Mattel Inc.'s Matchbox and Hot Wheels cars have long been big sellers to little boys. Now the El Segundo toy manufacturer is marketing to girls with pink and purple cars.
Sales and leasing activity in L.A.'s Westside in the first quarter.
The area is in the midst of a $1.5 billion makeover that aims to transform it into an upscale resort, complete with luxury apartments, hotels and shops.
Sales and leasing activity in The San Gabriel Valley in the first quarter.
More local companies are choosing to go public but they're doing it overseas, where the fees are lower and the regulations less onerous.
Shadi Sanbar, who lived and worked in Los Angeles most of his life, is a director of the Dubai International Financial Market.
Sales and leasing activity in Hollywood in the first quarter.
The Playa Vista developers are spending $100 million on roads, signals and other traffic improvements.
Michael Shaw lists what California's small businesses need in order to offer their employees health coverage.
TV5Monde USA, America's only French language channel, will be the sole channel in the U.S. to air live coverage of the opening and closing ceremonies at the 60th annual Cannes Film Festival.
The Securities and Exchange Commission has filed charges against the husband of a top Amgen Inc. executive, accusing the man of insider trading in the stock of a company that Amgen was about to acquire.
At first glance, it may seem puzzling that an investment house with $12.5 trillion in assets worldwide which has historically served only institutional clients would go down market to court individuals with as little as $500,000 to invest.
Friday, April 20
Former Paramount Motion Picture Group Chairman Robert Friedman and former chief of the foreign film sales for Summit Entertainment, Patrick Wachsberger, joined a group of investors led by Merrill Lynch to acquire Summit and make it part of a new movie pro
The largest organizations representing California physicians and hospitals joined a lawsuit against Blue Cross of California on Thursday.
A merger boosted Point.360 while some good news, and some good earnings, helped Fremont and East West Bancorp, respectively. On the other hand, profit taking took a bite out of Grill Concepts while poor earnings and a gloomy outlook stunned Stamps.com and
The subprime lending unit of IndyMac Bancorp Inc. has raised its minimum borrowing standards and cut back on loans to borrowers who can not document income, the Pasadena-based bank said Friday.
Privately held National Veterinary Associates has been sold to venture firm Summit Partners for about $128 million, the Westlake Village-based chain said.
Because of technical problems with the Business Journal's Web server, many subscribers received their Daily E-Newsletters late on Monday, Tuesday and Wednesday.
Hanmi Financial Corp. saw its shares drop by 14 percent Friday after it warned that loan losses would lead to lower first quarter earnings.
While employers in L.A. County added a robust 17,000 non-farm payroll jobs in March, the number of Angelenos saying they have jobs dropped by 13,000, according to the state's monthly jobs report.
Shares in Stamps.com Inc. plummeted more than 15 percent Friday to a two-year low after the company reported meager earnings and dropped its 2007 forecast.
A gunman who killed a hostage and then himself inside the Johnson Space Center in Houston on Friday afternoon was an employee of Pasadena-based Jacobs Engineering Group Inc.
Thursday, April 19
AT & T; Inc. said Wednesday that viewers in the Los Angeles area will soon have the option of ordering the company's new U-verse digital fiber optic video and high-speed Internet services.
Shares in Reliance Steel & Aluminum Co. surged nearly 9 percent Thursday after the company reported record breaking first quarter profit and hit an all-time high for share price.
Los Angeles private equity firm the Gores Group LLC is buying Healthsouth Corp.'s diagnostic division for $47.5 million, the troubled Birmingham healthcare company said.
Shares in Amgen Inc. shot up Thursday after the Thousand Oaks biotech gave the market its first shot of good news in more than a week.
The U.S. Justice Department is investigating the Coast Guard's $24 billion Deepwater modernization contract.
The high cost of renting in Southern California keeps getting higher, but prices have lately been rising at a slightly more leisurely pace.
Shares in City National Corp. gained more than 2 percent early Thursday after the bank reported a dip in first-quarter profit and net interest but still met Wall Street's expectations.
Two big lenders stepped up Wednesday with plans to help some strapped mortgage borrowers, while a Capitol Hill summit on rising foreclosures put pressure on other industry players to work with troubled homeowners.
Ticketmaster sued eBay Inc. and its subsidiary StubHub, alleging that the companies interfered with Ticketmaster's contractual rights to be an exclusive vendor of certain shows.
Faced with declining real estate-related revenues, Mayor Antonio Villaraigosa proposes a $6.8 billion budget for 2007-08 that boosts gang prevention and public safety funding but holds the line on most other city programs.
Shares in Tribune Co. slid slightly Thursday after the company reported a big first quarter loss amid declining ad sales.
Regulatory filings have revealed that Fremont General Corp. executives sold nearly $9 million worth of stock in early January, more than a month before the company announced its subprime mortgage business was in danger of going bankrupt.
Abraxis BioScience Inc. said its generic version of Pfizer Inc.'s anticonvulsant Cerebyx has received tentative approval from the U.S. Food and Drug Administration.
MySpace.com said Thursday that it is going to add a news feature to its popular networking site that will allow its users to decide what news is most important and should be displayed.
Wednesday, April 18
The faux French-Normandy style Hollywood Tower apartment building in Hollywood, a familiar sight to drivers on the Hollywood Freeway, has been sold for $34.5 million to a Phoenix landlord that plans to build more units next to it.
Former subprime lender Fremont General Corp. is banking on condos. The company recently sold its entire residential mortgage business and now is turning to what seems like the relative safety of its commercial lending business.
CytRx Corp. said Wednesday that it is holding a private placement where it will be offering 8.6 million shares at $4.30 to a group of institutional investors in the hopes of netting about $34 million.
The Arcadia City Council unanimously approved plans for a high-end shopping center at an unused Santa Anita Race Track parking lot, clearing the way for the Rick Caruso-lead project to break ground.
Los Angeles Mayor Antonio Villaraigosa suffered a political setback Tuesday when an appellate court ruled that a state law giving him power over schools in his city is unconstitutional.
Tuesday, April 17
Recent decisions by the Port of Long Beach and two powerful state commissions to kill competing LNG terminals appear to have temporarily halted proposals to import the fuel from overseas.
Shares in digital media firm Point.360 soared nearly 50 percent Tuesday after DG FastChannel Inc. agreed to acquire the Burbank firm's advertising distribution operations for about $34 million.
For-profit dialysis centers tend to administer Amgen Inc.'s anemia drugs at higher than recommended levels, potentially raising the risk for deadly side effects, according to a study funded by the U.S. government.
Nearly 900 Californians a week are losing their homes because they can't afford to pay the mortgage , up from about 100 a week a year ago.
The Coast Guard is removing Northrop Grumman Corp. and Lockheed Martin Corp. from management roles on its $24 billion Deepwater modernization project.
In a bid to increase its wind energy project services, L.A. engineering consulting firm Tetra Tech Inc. has acquired Delaney Group. Terms of the buyout were not disclosed.
The California Association of Realtors launched a new $2.3 million ad campaign entitled "California Realtors -- We Get It."
Edison International on Monday stepped up efforts to defeat a shareholder's proposal that would limit executive compensation, arguing in a letter to potential voters that current policies are sufficient.
Monday, April 16
Business stars speaking at local commencement ceremonies include Eli Broad and Charlie Munger.
Anschutz Entertainment Group Inc. has found a new partner for its Convention Center hotel project at L.A. Live after going it alone for several months.
March 2007 Home & Condo Sales in L.A. County
Aerovironment Inc. is getting the kind of investor and analyst attention that young public companies would envy. It's on the cutting edge of designing unmanned aircraft and quick-charge systems for electric vehicle batteries.
Los Angeles won't see a real estate crash because the region's economy is strong, says Mark Cohen.
L.A.'s monumental problem with traffic has a solution that might even seem too obvious, writes Charles Crumpley: build more roads.
New legislation could team California and MySpace, the nation's largest state and the popular Internet portal, in an innovative but controversial way to fight sex offenders who prowl chat rooms for child victims.
CB Richard Ellis Group Inc. has been named nation's largest brokerage by the National Real Estate Investor. This is the fourth consecutive year that the firm has finished at the top of the list.
Jimmy Au has opened a Beverly Hills location where he sells high fashion brands to men 5-feet-8-inches and under.
Media Center, a multi-tenant office building in North Hollywood, has changed hands.
Indian engineers with degrees from American universities are heading back home to avoid the hassle of H-1B visas. Meanwhile, American companies are setting up shop in India to hire local talent.
Jimmy Delshad is facing major development and traffic issues in his high-profile role as mayor of Beverly Hills.
Five key affiliate stations say they will stop carrying Azteca America's signal, dealing a significant blow to the L.A.-based Spanish-language network's bid to crack the U.S. market.
Los Angeles-based Maguire Properties Inc. has agreed to sell 11 Orange County buildings to Bixby Land Co. for $345 million.
Richard Burke is hoping for big returns from Diet Classics' discount versions of weight-control pills.
Trans-Exec Air Service, which has a high-end fleet of executive jets based at Van Nuys Airport, is buying two Gulfstream G550s a total investment of more than $100 million.
Numbers of celebrity investors have dwindled as it has become clear just how tough it is to make money and to avoid losing money owning a racehorse.
Mattel Inc. reported better than expected first quarter earnings Monday.
Fremont General Corp. said Monday that it would sell its residential real estate business and about $2.9 billion in subprime residential mortgages.
Saatchi sells Pala resort with emphasis on other amenities.
Filming for Fox's cross-country drama "Drive" doesn't have to leave Santa Clarita, thanks to effects shop Zoic Studios, which is creating the backgrounds of swamps, gas stations and open roads.
Marley Majcher, who owns Pasadena-based Party Goddess Inc., recently decided to hold monthly networking get-togethers.
Converting Olympic and Pico boulevards into one-way streets from downtown Los Angeles to Santa Monica could increase capacity on the roads by up to 20%.
Los Angeles is about to become the nation's capital of television festivals.
New research reveals that the off-label use of Amgen Inc.'s best-selling drug Aranesp could increase the risk of death for some cancer patients.
Wells Fargo & Co. opened a 30,000-square-foot banking complex in Manhattan Beach.
Paris Hilton's brand makes its debut at California Market Center.
Union Bank of California's Los Angeles foreign exchange desk is gearing up to handle an explosion of growth in trading Asian currencies.
Epilepsy patient, Eric Schumacher, developed software for tracking activities and seizures.
Saturday, April 14
Los Angeles will not host the Summer Games in 2016, it was announced Saturday, as the U.S. Olympic Committee picked Chicago as the city to submit for international competition.
Friday, April 13
Latinos work hard, have money and spend it, and their vast buying power - close to $900 billion nationally this year - will shape the future of American society.
Ending a five-year legal battle, the state Supreme Count awarded a major victory to private engineering firms Thursday by affirming California's right to outsource potentially billions of dollars in public works projects.
Profits are climbing for the nation's top three supermarket operators, three years after the chains wrestled key wage and benefit concessions from Southern California workers during a strike and lockout.
Shares in House of Taylor Jewelry surged more than 9 percent Friday after the company announced that it hired Bob Rankin as the company's new chief financial officer.
Southern California Edison said it has reached an agreement with renewable energy generator Calpine to purchase 225 megawatt of geothermal energy.
Thursday, April 12
A trial-lawyer-backed initiative to roll back workers' compensation reforms enacted three years ago has qualified to begin collecting signatures, Secretary of State Debra Bowen announced Thursday.
A leading aviation consulting firm delivered a sobering message Thursday to Los Angeles airport officials: the well-publicized continuing decline in international travelers may be a harbinger of things to come.
Northrop Grumman Corp.'s Chief Executive Ron Sugar was the highest-paid chief of a U.S.-based defense contractor in 2006 banking $21.7 million.
Los Angeles may be the film capital of the world, but that isn't stopping more than 260 exhibitors from more than three dozen countries and 30 U.S. states from coming to town to try to lure film production to their areas.
Countrywide Financial Corp. said its subprime loan funding fell sharply last month as the housing market continued to tighten.
The founder of the risque "Girls Gone Wild" empire was indicted Wednesday on two counts of tax evasion by a federal grand jury, the latest in a series of legal woes for the Santa Monica entrepreneur
Live Nation Inc. has singed a 20-year lease to manage and restore the landmark Hollywood Palladium.
Wednesday, April 11
United Airlines on Wednesday began charging passengers flying out of Los Angeles International Airport an additional $10, a fee the airline said is necessary to offset a $10 million increase in the rent charged by the airport.
Amgen Inc. will delay reporting first-quarter earnings until April 23, four days later than planned, so that it can discuss a clinical trial that could bolster or further erode the biotech's beleaguered stock.
Metro-Goldwyn-Mayer Studios Inc. has begun offering its feature films on Apple Inc.'s iTunes Music Store.
Apollo Real Estate Advisors has purchased 24 rental properties in the Silverlake, Westlake, Koreatown, Hollywood, West Hollywood and Los Feliz areas for about $83 million.
Northrop Grumman Corp. is taking the contrarian step of forging a partnership with Israel Aerospace Industries Ltd. to propose lighter, more-flexible spy satellites to the U.S. military and intelligence agencies.
Comcast Corp. said Wednesday it would acquire online movie vendor Fandango Inc. for an undisclosed sum.
It may be the ultimate Beverly Hills teardown. British developers paid $500 million Tuesday for the once-grand Robinsons-May department store in one of the priciest property sales ever in Southern California.
Tuesday, April 10
Amgen Inc. said it has promoted Robert Bradway to chief financial officer. He replaces Richard Nanula, who the company said is leaving the company to pursue other opportunities.
Maguire Properties Inc. said Tuesday that it has agreed to sell two San Diego-based properties for $300 million to an undisclosed buyer.
Universal Travel Group has completed the acquisition of Shenzhen Speedy Dragon Enterprise Ltd.
The State Lands Commission decided late Monday not to award a lease essential to a proposed liquefied natural gas terminal off the Southern California coast, citing environmental concerns.
As the year began, Amgen Inc.'s Chief Executive Kevin Sharer boasted his biotechnology company had just finished "one of our very, very best years ever," the Wall Street Journal reports.
Walt Disney Co. said Monday that the backdating of stock options at Pixar Animation Studios was broader than previous reports suggested.
Shares of 99 Cents Only Stores rose nearly 7 percent Tuesday after the discount retailer posted fourth-quarter sales numbers that beat analysts' estimates.
As the picket signs were being packed away three years ago, Georgene Haubenreisser urged the relatives she had helped steer into supermarket careers to get out of the business.
KB Home Inc. said Monday afternoon in a regulatory filing that a lawsuit was filed against the company alleging violations of the Employee Retirement Income Security Act related to the company's illegal backdating of stock options.
Monday, April 9
Herbalife Ltd. has signed a sponsorship deal with beach volleyball legend Karch Kiraly to become Kiraly's official nutrition and energy drink, the Century City-based company said Monday afternoon.
The biggest railroad in North America doesn't usually do things small and that's the case with its latest proposal for its Los Angeles and Long Beach cargo complex.
Shares in Herbalife Ltd. dipped nearly 5 percent Monday on news that discussions on its possible acquisition by Whitney & Co. had collapsed once again.
L.A.'s three heavyweight university research arms have joined forces to speed the transfer of technological discoveries made by their faculty and students to the marketplace.
Even though he's only 27 years old, Sam Rogoway has drawn on his past experiences frequently to help him run his company.
Shares in International Rectifier Corp. lost nearly 8 percent Monday after the company disclosed that an internal audit committee had found that one of its foreign units misstated sales, forcing the company to restate past results.
Michael Ritter started publishing a little entertainment and lifestyle magazine for 20-somethings, called Saturday Night Magazine, in his fraternity room in 2003 while an undergrad at the University of Southern California.
Warner Music Group Corp. has agreed to put videos from its artists on Joost.com for free in an ad-revenue sharing agreement.
Union Pacific Corp. has unveiled a $300 million modernization plan for its Los Angeles port facility with the intention of making it less polluting while also moving more cargo more quickly.
It must find its third accounting firm in less than 12 months, get it to attest to management's financial assertions and file a delayed 10K with the Securities and Exchange Commission.
The federal government has nearly settled on a plan for a new Los Angeles FBI headquarters in Westwood that would demolish the landmark 1970 Federal Building and construct two office towers in its place.
Health Sciences Group Inc. said in a regulatory filing that its bid to acquire specialty tea maker Kalahari Limited had fallen through and its chief executive officer of less than a year had resigned.
California regulators today will begin considering a proposal by the world's largest mining company to moor a liquefied natural gas processing plant off the Southern California coast, setting the stage for Gov. Arnold Schwarzenegger to approve or reject t
Many of the most interesting nuggets on executive pay are buried so deep in the new corporate filings that it helps to bring along a calculator and a shovel -- like Occidental Petroleum CEO's $416 million salary, the New York Times reports.
A growing U.S.-China trade rift over coated paper exports to America has direct implications for Southern California seaports, where much of the paper is shipped.
Saturday, April 7
Overhill Farms Inc., a Vernon-based frozen foods maker, reported lower-than-expected second quarter earnings, sending its shares down sharply on Monday.
Friday, April 6
Viacom International Inc. has renewed the lease of the Nickelodeon animation headquarters in Burbank.
If you were looking for a job as a teacher last month, you were in luck. Same goes for health workers, retail clerks and building contractors.
James G. Ellis, vice provost for globalization at the USC Marshall School of Business, has been appointed dean of the business school, effective immediately.
Los Angeles-based Decron Properties Corp. has purchased the Plaza in Huntington Beach from 3D Investments LLC of Beverly Hills in the largest O.C. office transaction of the year.
Consumers increased their borrowing in February at the slowest pace in four months.
A slowing housing market has led Calabasas homebuilder Ryland Group Inc to warn that it expects to report a loss of 50 cents to 60 cents per share for the first quarter.
Real estate mogul Sam Zell will control a minority of Tribune Co.'s board if shareholders approve his bid for the company, but would have the power to veto major transactions, according to a regulatory filing.
Thursday, April 5
The directors of financial aid at Columbia University, the University of Texas and the University of Southern California held shares in a student loan company that each of the universities recommends to student borrowers, and in at least two cases profite
Herbalife Ltd. is back in play, with Whitney V LP saying in a regulatory filing that it has resumed talks with management that may lead to a higher offer to take the nutritional supplement company private.
In a case left over from the California energy crisis, four companies have agreed to pay ratepayers a combined $67.4 million over allegations of manipulating natural gas prices.
Veteran movie marketer and publicist Dennis Rice is leaving Walt Disney Co. to join United Artists, the historic film label being revived by actor Tom Cruise and Paula Wagner, his longtime producing partner.
KB Home named Hilton Hotel Corp.'s Chief Executive Stephen Bollenbach to the company's board Thursday, marking the first time the company has named an independent non-executive as a chairman.
The early 1990s were dark days for commercial real estate developers in Southern California. "Stay alive until '95," they used to say.
Occidental Petroleum Corp. is submitting a proposal to develop natural-gas fields in the United Arab Emirates, the Los Angeles oil company said Thursday.
Kirk Kerkorian's Tracinda Corp. made a $4.5-billion cash offer for DaimlerChrysler AG's troubled U.S.-based Chrysler unit Thursday, Los Angeles-based billionaire's company said.
Cable television companies reached an agreement with Major League Baseball Wednesday evening to continue carrying out-of-market baseball and broadcast the new Baseball Channel starting in 2009.
Wednesday, April 4
Will the next chapter in the Los Angeles Times ownership saga involve David Geffen?
Pomona-based Keystone Automotive Industries Inc. said that it has acquired the assets of. Auto Panels Plus in Tulsa, Okla.
A Long Beach-based venture that launches rockets at sea said Tuesday that it could begin launching again in October, about eight months after an explosion destroyed a commercial satellite and grounded operations.
Administrators and faculty at California State University announced a tentative contract agreement with the state Tuesday, eliminating faculty strikes that could have started next week.
Union leaders are urging workers at the Northrop Grumman Corp. shipyard in Pascagoula, Miss. to end a month-long walkout by approving the company's latest contract proposal, which will be voted on today.
Time Warner Cable said it has reached an agreement with Walt Disney Co. to distribute a handful of the media company's major cable channels including ABC Family, Disney Channel, ESPN, ESPN HD, ESPN2, and ESPN Classic.
Apartment rents jumped across Southern California last year and vacancy rates continued tightening, in part because of the housing market slump, according to a report that will be released today by the Lusk Center for Real Estate at USC.
National union leaders are urging workers at the Northrop Grumman Corp. shipyard in Pascagoula, Miss. to end a month-long walkout by approving Northrop's latest contract proposal, which will be voted on Wednesday.
Workers in Los Angeles grew more jittery in March as the subprime mortgage lending crisis made headlines and threatened to spill over into the larger housing market, according to a new survey.
Shares in Electro Rent Corp. were flat Wednesday after the company reported strong sales along with a double digit dip in profits.
In a compromise designed to appease Los Angeles Mayor Antonio Villaraigosa, the City Council on Tuesday took the first step toward revising a law giving downtown developers a way to increase the size of their buildings.
Three major Southern California grocery chains that are in contract talks with thousands of employees have agreed to lock out all their workers if employees target one chain with a strike.
Tuesday, April 3
A new study on the economic well-being of port truckers seems to re-affirm what most everybody already knows: Hauling containers to and from the waterfront isn't very lucrative.
Shares in Bell Industries dipped 2 percent after the company reported its fifth straight quarterly loss.
Amgen Inc. will delay development of its $1.1 billion manufacturing plant in Cork, Ireland, by two years, according to a Tuesday report in the Irish Examiner.
Shares in Napster Inc. gained more than 3 percent Tuesday as large subscriber growth driven by an acquisition helped the on-line music retailer beat expected quarterly sales.
After more than 120 years, the Chandlers are getting out of the newspaper business.
On Friday, March 23, county transit officials announced plans for the first fare hike for bus and rail lines in 13 years. The across-the-board bump would hit commuters particularly hard - a $52 monthly pass would cost as much as $120 by 2009.
An unresolved dispute with the federal government has left Los Angeles airports staring at potentially hundreds of millions of dollars of unexpected costs, congressional investigators indicated in a report issued Monday.
News Corp. shareholders have approved the $11 billion asset swap between media moguls Rupert Murdoch and John Malone involving DirecTV Group Inc., the New York media company announced Tuesday.
Monday, April 2
In less than two months since going public, Carson-based U.S. Auto Parts Network Inc. has seen its stock chopped in half due to troubles that have led to lawsuits and concern among some analysts.
IndyMac Bancorp Inc. called concerns about subprime defaults spilling into Alt-A home loans "overblown," and its share price jumped.
Charles Crumpley is impressed by a proposal for an L.A. leadership coalition that would set priorities and act on solutions to the area's problems.
Dr. Zein Obagi won success with rejuvenation products. Now, the Beverly Hills dermatologist is hoping his pharmaceutical-grade products will draw new customers.
Investors jittery over the slumping housing market sent shares in Countrywide Financial Corp. down more than 3 percent Monday after the company said that two directors will leave the mortgage lender's board.
Supporters of White Memorial Medical Center have leveraged connections to raise $30 million a year ahead of schedule to help pay for a new earthquake-resistant hospital building.
Chris Wolfe writes that Los Angeles has major problems with traffic and pollution, and he lists steps that can be taken to address them.
More than two years ago, CLEAN, as the activist group is known, successfully lobbied the L.A. City Council for an ordinance to combat what it called "the blight that resulted from dozens if not hundreds of newsracks slapped haphazardly on the city sidewal
Tribune Co. said it accepted Sam Zell's buyout offer valued at about $8.2 billion, despite an 11th-hour bid by Los Angeles billionaires Eli Broad and Ron Burkle that reports said was valued higher.
Capstone Turbine Corp. could have benefited from Hurricane Katrina's aftermath. Instead, it has sputtered and chugged.
Take a walk on Main Street between Fourth and Seventh and the most remarkable thing is what's no longer there: Mostly gone are the loitering crowds, the drug dealers and the addicts looking to buy.
Koreatown's first luxury high rise condo tower has plenty of local flavor, including smoking porches.
Anastasia Loukaitou-Sideris urges elected officials to proceed cautiously with regulations related to the sale of the convention center's air rights.
Downtown's new condo dwellers have been hungry for more eateries, and the market is beginning to serve them up.
Grant Thornton LLP has quit as auditor for Fremont General Corp., citing resistance from the industrial bank to providing information for an expanded audit in the wake of the company's problems in the subprime lending market.
Businesses are raising concerns about City Council President Eric Garcetti's proposal to shift business taxes to an affordable housing fund rather than make tax cuts.
The uncharted legal waters created by the emerging distribution platforms broadband, wireless and video-on-demand are creating a flood of copyright conflicts.
Is print dying? Two icons of the local alternative press don't think so. They are launching two publications this month.
The race is on to develop a commercially viable car that can travel 100 miles on a gallon of gasoline.
The tweaks and tightening undertaken by organizers of L.A. Fashion Week to counter its flagging industry profile appear to have done the trick.
Robert E. Petersen, the founder of what was once the largest special-interest publishing company in the country, is remembered for his brilliant sense of timing.
Union Pacific Railroad has submitted a $300 million proposal to upgrade its massive intermodal container yard near West Long Beach.
Deep-pocket interests have been flocking to L.A.'s trendy retail neighborhoods, sometimes buying out the leases of mom and pop operators for hundreds of thousands of dollars.
Controversial payday loans targeting soldiers returning from Iraq are now in the crosshairs of politicians.
Dr. Zein Obagi won success with rejuvenation products. Now, the Beverly Hills dermatologist is hoping his pharmaceutical-grade products will draw new customers.
NMS Properties Inc. has purchased Santa Monica Studios for $27 million and plans to build a mixed-use development there.
The Los Angeles and Long Beach ports will again witness big growth this summer, but it looks like they can handle it at least this year.
Major League Baseball's newest client is the pro beach volleyball tour operated by Los Angeles-based AVP Inc
Local mergers and acquisitions held steady in February with 64 deals totaling $7.1 billion, up slightly from the previous month and the same number as a year ago.
Anthony J. Buzzelli writes that L.A. leaders should create a coalition in order to coordinate their problem-solving efforts.
Passenger Inc. has updated the focus group with the concept of "customer collaboration" for example, TV show fans gather online to view previews in exchange for their input.
Wolfgang Puck is continuing to build on his food empire with renewed attention to his cafes and frozen pizzas. He's also launching a baby food line.
Carol E. Schatz favors higher density in the downtown area and supports the sale of convention center air rights.
Late-week announcements for Image and Grill Concepts boosted stock Friday while a nixed merger, poor earnings and an underwhelming housing market stung, respectively, Electronic Clearing House, UTI and KB Home.
Defying a trend, Los Angeles has added middle-income jobs recently, according to a study to be released today by the UCLA Anderson Forecast.