Stories for April 2008
Wednesday, April 30
Tetra Tech International Inc. reported second quarter net income of $13.7 million (23 cents per share) up 31 percent from $10.4 million (18 cents) for the same period a year earlier.
After more than two weeks of negotiations, studios and the Screen Actors Guild appear to have made little headway toward a new contract.
Shares in Molina Healthcare Inc. surged early Wednesday after the company reported strong first quarter earnings. However, the company cut its 2008 outlook due to declining interest rates and the anticipation of higher taxes.
Big 5 Sporting Goods Corp. said Wednesday that its first-quarter profit fell 46 percent due to sluggish sales.
The subprime-mortgage market is getting worse each month, but there are indications that the problem may be moderating.
Shares of Health Net Inc. managed to gain ground Wednesday as analysts said the health insurer's revised outlook was mostly to be expected and highlighted the company's takeover possibilities.
FirstFed Financial Corp. posted a first-quarter net loss because of steep losses from home mortgages.
Parsons names CFO.
Tribune Co. said that it had completed the $175-million purchase of newspaper facilities owned by the Chandler family.
The head of LAX denied allegations that she influenced the recent selection of a developer to oversee more than $5 billion worth of airport upgrades.
United Online Inc. said Wednesday that it agreed to acquire flower- delivery service FTD Group Inc. for $800 million in cash, stock and debt.
Grupo Televisa's trail that claims it has been cheated out of more than $100 million in royalties by its partner, Univision Communications Inc., was delayed until July 1.
True Religion Apparel Inc. said late Tuesday that its fourth-quarter profit more than doubled thanks to a boost in sales.
Tuesday, April 29
Santa Monica's X Prize Foundation now is targeting one of the most-crowded contests in technology: the race to discover clean alternatives to fossil fuels.
Shares in HCP Inc. dropped Tuesday after the health care REIT said that net income plunged, even as the key metric of funds from operations improved on fewer charges.
Business groups in L.A. and around the state reacted with dismay to news that a legislative committee on Tuesday had defeated the governor's proposal to enable more private investment and greater use of private contractors in public infrastructure project
Shares in the world's largest commercial real estate broker, CB Richard Ellis Group Inc., tumbled 6 percent Tuesday after the company was downgraded ahead of its first quarter earnings.
Gina Marie Lindsey, executive director of Los Angeles International Airport, will meet with Councilwoman Janice Hahn to explain allegations of cronyism tied to at least one airport contract.
Dialysis provider DaVita Inc. on Tuesday reported a rise in quarterly profit, saying new facilities and boosted revenue per-patient helped push profit up.
Shares in First Regional Bancorp were up more than 7 percent Tuesday after the banking company said it reaped a windfall as a result of Visa International's initial public offering.
Countrywide Financial Corp. and GMAC LLC, two of the nation's biggest home lenders, lost a combined $1.5 billion in the first quarter, adding to evidence that the housing slump has deepened.
First quarter profit climbed 71 percent at CB Richard Ellis Group Inc. thanks to gains in international business, but the earnings missed Wall Street estimates sending shares downward.
Gemstar-TV Guide International Inc. said Tuesday afternoon that its shareholders approved the company's sale to Macrovision Corp.
The Federal Reserve held an unusual hearing Monday in L.A. on Bank of America Corp.'s proposed $4-billion takeover of Countrywide Financial Corp.
K-Swiss Inc. reported sharply lower profits Tuesday as growth in its international business couldn't offset rising costs and sagging domestic sales.
DreamWorks Animation SKG Inc. said first-quarter profits rose 69 percent mostly due to the sales of new "Shrek the Third" and "Bee Movie" DVDs.
The chief executive officer of the California Public Employees' Retirement System is resigning, marking the second top official at the nation's largest pension fund in under a week to announce plans to quit.
Countrywide Financial Corp. posted a first-quarter loss Tuesday due to $3 billion in credit-related charges and rising mortgage delinquencies.
Monday, April 28
Restaurateur Marilyn Lewis, who founded Hamburger Hamlet and Kate Mantilini, dishes on her L.A. legacy.
Shares in Ducommun Inc. gained more than 5 percent Monday after the L.A. aerospace company reported strong first-quarter results.
The city's only education and arts cable network, LA36, looks like it'll be a victim of the city's $406 million budget deficit. Mayor Antonio Villaraigosa is recommending eliminating the channel's operating funds of $555,000.
Shares in Ihop Corp. retreated Monday as expenses associated with the company's purchase of Applebee's last year cut into rising sales during the first quarter.
The City Council has taken an important step in promoting sustainable living with a new green ordinance, according to Kevin L. Ratner.
A top Iranian judiciary official warned Monday against the "destructive" cultural and social consequences of importing Barbie dolls and other Western toys.
Solar thermal company eSolar has raised a jaw-dropping $130 million in funding from Idealab and Google.org.
As Disney Cruise Line prepares to replace its two original ships in the lucrative Florida market, local officials are working to lure the vessels to Southern California.
Hirirngs, promotions and kudos.
Time Warner Cable is targeting the Latino market with TV, Internet and telephone package Paquetazo
Eli Broad, a philanthropist and co- founder of KB Home, the fifth-largest U.S. homebuilder by revenue, said he expects home prices to drop another 20 percent.
Pizzeria Mozza was supposed to be the opening act for the adjacent osteria, but the hard-to-get-a-seat eatery has become a star in its own right.
A slow economy has L.A. law firms cutting back on student staffing this summer.
Cheesecake Factory dishes up its new chain of RockSugar Pan Asian Kitchen restaurants.
Terence M. O'Sullivan believes the government should not be bailing out homebuilders from the crisis they helped create.
Mattel Inc. won a judge's permission to move forward with copyright- infringement claims against MGA Entertainment Inc. and Carter Bryant, the designer of MGA's popular Bratz dolls.
Claremont professor Joseph Maciariello may be the most tireless devotee of late management guru Peter Drucker.
Recent raids on area businesses by immigration officials have underlined the precarious position of employers in documenting workers.
Increasing costs are fueling a multimillion-dollar investment drive by local companies to improve efficiency.
An attempt to phase out rent control probably has doomed a proposition to rein in eminent domain abuses, writes Charles Crumpley.
Shares in Gemstar-TV Guide International Inc. plunged nearly 20 percent Monday after an analyst speculated that Macrovision Corp.'s acquisition of the company may be jeopardy.
Leaders of the Screen Actors Guild will have to decide this week if they want to make a deal -- or keep Hollywood on edge about whether actors will strike this summer.
Discovery of some old promotional videos three years ago while Brentwood dentist Jay Grossman was cleaning out an office closet lead to an "aha" moment and a fast-growing side business.
Kirk Kerkorian, the billionaire investor who has a long history with Detroit's auto makers, has stepped back into the fray with the purchase of shares in Ford Motor Co.
Jeff Salmon has more than 20 years of experience in directing promotional productions for some of the world's premiere companies.
Studio City-based Jaguar Distribution specializes in booking independent films on airline flights.
The vanishing IPO market is having an unexpected effect on L.A. venture capitalists they're having to dig deeper in their wallets.
The L.A. Live Convention Center hotel has already booked a full slate of conventions two years before it opens fulfilling its role of bringing action to the city's starving convention business.
Bridge Publications Inc., the publishing arm of the Church of Scientology, has signed a $15 million lease for industrial space in Commerce at the Telacu Industrial Park.
Construction will not begin until February, delaying completion of the first phase until 2012. The developer notes the tight credit markets played a role.
Mayor Antonio Villaraigosa has pitched a plan to sell the naming rights to city-owned facilities like the L.A. Zoo and Greek Theater.
EXECUTIVE HEALTH 2008
Shares in Maguire Properties Inc. dropped nearly 5 percent Monday after an independent directors' committee refused to consider Chairman Robert Maguire's bid to pay $745 million for a portion of the company.
Hurricane Katrina and earthquakes prompted PortBlue to tailor its emergency preparedness software to the health care industry.
Property owners are taking advantage of a surge in the rental market by offering condo units as apartments.
Online movie-ticketing business Fandango has raised the curtain on a voice recognition service for mobile phones.
Just a few months after the governor's state health-reform proposal collapsed, it appears California voters liked his idea by a landslide. And now they're feeling more insecure and pessimistic than ever about the future of medical coverage.
Beverly Hills jewelers Alan and Layna Friedman have launched the Barbie Rocks line, pricey pieces that incorporate images of the iconic doll.
Friday, April 25
Los Angeles Dodgers owner Frank McCourt has unveiled plans for a historic makeover of the 275-acre Dodger Stadium site that is designed to transform the ballpark into a year-round destination for dining, shopping and recreation.
Even as Countrywide Financial Corp. teetered on the brink of bankruptcy, chairman and chief executive Angelo Mozilo took home more than $100 million.
The Dow Jones industrial average only gained a fraction of percent this week, but the Los Angeles Business Journal's index of the 200 largest public companies was boosted by a slew of positive earnings reports. The local index gained 2.6 percent, with 120
The strong yen and rising raw-materials costs took their toll on Honda Motor Co. and Mitsubishi Motors Corp. in the quarter ended March, and while Mazda Motor Corp. put in a strong performance.
FirstFed Financial Corp.reported Friday it will have an operating loss in the first quarter after it was hit hard mortgage defaults, prompting it to raise its loan loss provisions.
Herbalife Ltd. said late Thursday that its president and chief operating officer, Gregory Probert, has confirmed he didn't complete his MBA degree as stated in his biography.
Major contract awards prompted two investment firms Friday to upgrade Northrop Grumman Corp., sending shares of the Los Angeles defense contractor upward.
Thursday, April 24
Motorcar Parts buys Automotive Importing Manufacturing.
The Dodgers today plan to unveil their most extensive stadium renovation yet, a project that would transform the area behind the outfield to an entrance promenade featuring restaurants, shops, club offices and a Dodgers museum and add two parking garages
Liberty Mutual Group Inc.'s $6.2 billion acquisition of Safeco Corp., announced yesterday, may signal the start of a wave of insurance-industry deals.
Hollywood special-effects studio Digital Domain Inc., which had wanted to go to market with a $78 million initial public offering this week, was having trouble closing the deal.
Amgen Inc. on Thursday said that its profits climbed in the first-quarter because staff reductions and other cost-cutting measures helped offset sales declines of its anemia drugs.
A day after shares in Teledyne Technologies Inc. surged 19 percent thanks to stellar earnings, the aerospace company said Thursday that it settled a patent-infringement lawsuit with Honeywell International Inc.
Northrop Grumman Corp. reported Thursday that first-quarter profit dropped but beat expectations. It warned that full-year profits will be lower than expected due to charges and delays associated with its amphibious assault ship.
Russell Read quit as chief investment officer at the California Public Employees' Retirement System, ending a two-year stint overseeing the largest U.S. public pension fund's $244 billion holdings.
Cheesecake Factory Inc. reported a dip in first quarter profit Thursday due to less customer traffic and a weak economy.
Occidental Petroleum Corp. said Thursday that its first-quarter profit hit a record thanks to higher crude prices and increased production.
Wednesday, April 23
Stamps.com Posts Strong Q1 Earnings.
The L.A. City Council on Wednesday approved a landmark policy authorizing the city's redevelopment agency to negotiate a project labor agreement with local building trade unions.
Skechers USA Inc. posted a 37 percent increase in first-quarter profit, thanks in part to a weak dollar and strong international demand.
Sinking home values and the collapse of flimsy mortgages fueled a record number of foreclosures in California in the first three months of this year, dimming prospects for any quick recovery in the housing market.
Shares in Teledyne Technologies Inc. shot up nearly 17 percent early Wednesday after the Thousand Oaks-based sonar systems maker reported strong first quarter earnings and added that profit in 2008 may be higher than predicted.
In no surprise, Ryland Group Inc. on Wednesday reported a first-quarter loss due to slumping home sales and a growing inventory of unsold homes.
Though big gaps remain between SAG and the majors, negotiators have made enough progress toward a feature-primetime deal to keep negotiations going for an extra week until May 2.
Dietary supplement retailer Herbalife Ltd. on Wednesday responded to an alert issued by Spain's Ministry of Health that warns consumers of possible liver problems associated with Herbalife's products.
When the Los Angeles Galaxy signed David Beckham to a five-year deal in January 2007, a huge financial figure was instrumental in garnering headlines for the news.
Jakks Pacific Inc. shares took a hit Wednesday after the toymaker reported its first-quarter profit plunged because of increased legal, product testing and restructuring costs.
Shares in East West Bancorp Inc. shot up 15 percent Thursday after the bank said it plans to offer $150 million in preferred stock to improve liquidity and strengthen its capital base.
Northrop Grumman Corp., winner of a $3.74 billion contest to build unmanned spy-planes for the U.S. Navy, may find the order leads to more sales overseas.
Beleaguered Bank of America Corp. shareholders pleaded Wednesday with the bank's chief executive not to proceed with a $4 billion acquisition of distressed subprime mortgage lender Countrywide Financial Corp.
Tuesday, April 22
Several analysts cut their 2008 earnings estimates on Bank of America Corp on fears of higher credit costs and loan loss provisions.
International Rectifier Corp. said Tuesday that its founder and chairman, Eric Lidow, will retire effective on May 1.
California Insurance Commissioner Steve Poizner proposed emergency changes Monday to regulations that help determine rates for auto and homeowner policies.
Avery Dennison Corp. said Tuesday that its first-quarter earnings slipped 14 percent due to higher costs and weak U.S. retail demand.
Even though every nook and cranny of the housing market is draped in doom and gloom, it may be a good time for potential buyers to take a contrarian look.
Nara Bancorp Inc. reported Tuesday that the faltering economy cut into first quarter lending and income, adding to the list of local banks that have performed poorly this earnings season.
House of Taylor Jewelry Inc. on Monday said it had received a notice from the Nasdaq Stock Market that trading of its shares will be suspended because the company had not paid its listing fees.
Shares in Zenith National Insurance Corp. closed down 5 percent Tuesday and continued to slide Wednesday after the insurance provider reported a big fall in profit and revenue.
Northrop Grumman Corp. defeated Boeing Corp. for another big-dollar defense contract, winning a $3.74 billion unmanned Navy spy-plane contract, the Department of Defense said Tuesday.
Monday, April 21
Major events in commercial and industrial real estate across the L.A. region.
Sandy Grushow, a former Fox Television Entertainment Group chairman who oversaw the development of hit TV series such as "American Idol," "The Simpsons" and "24," wants to use the Internet to find and develop talent around the world.
The new year started off with a bang on the Westside, with average asking rates for top-tier space up nearly a third from a year ago, and vacancies holding steady at around 8 percent.
The vacancy rate in the South Bay's port-dependent industrial market rose two-tenths of a point in the first quarter to 1.7 percent, mirroring a slowing in import traffic at the ports.
After languishing for decades, San Pedro has drawn the attention of developers looking to capitalize on its seaside location.
Developer Raffi Cohen's 16-story condo project has lifted spirits and stoked hopes in the port town.
The Inland Empire felt the effects of its industrial building boom last quarter when more than 26 million square feet of warehouse and distribution space planned long before the current economic downturn came on line.
A revitalization effort in the late '60s resulted only in an eyesore office tower that became a symbol of stagnation.
Disney Chief Executive Robert A. Iger is among the speakers scheduled to address graduates at area commencement ceremonies.
It was the same old song and dance up and down the Wilshire Corridor at the start of 2008, as leasing and occupancy rates remained strong despite slowing elsewhere.
Commuters stuck in rush-hour traffic on the Golden State (5) Freeway leaving Santa Clarita for the San Fernando Valley may likely ask: "What mortgage crisis?"
Agency Wongdoody brought in filmmaker Errol Morris to promote FullTiltPoker.com
As it works to shut the door on a major financial scandal that has dogged the company for more than a year, International Rectifier Corp. announced a key change to the management team last week.
The Mid-Cities market, with its swath of aging industrial buildings, emerged as an unlikely hero in the first quarter.
Pay-TV channels HBO, Showtime and Starz are about to get a new competitor in their lucrative and insular world.
New York and Michigan are among states looking to poach Hollywood productions through big new incentives.
File this one under "green spirits."
Santa Monica Place mall has launched a renovation to exploit its proximity to the ocean and Third Street Promenade.
Kudos, hirinrg and promotions.
As water becomes increasingly scarce, engineering firms such as Tetra Tech Inc. and Aecom Technology Corp. are seeing infrastructure orders roll in.
Faced with the most severe economic conditions in nearly two decades, Los Angeles city and county officials today will unveil budgets that are expected to call for wide-ranging service reductions while also asking residents to pay more to finance governme
Real D has taken a starring role in making traditional movie theaters capable of showing 3-D films.
Geraldine Knatz, the executive director of the Port of Los Angeles, explains why her port took a different road to implement the clean trucks program.
Frank Addante, co-founder and chief executive of the Rubicon Project, likens his startup to a Nasdaq for online advertising.
It's taken eight years and $6 million for Burbank airport officials to come up with a proposed solution to ease sleep-depriving aircraft noise that has frustrated nearby residents for decades: Shift some overnight operations to Van Nuys Airport.
A federal court of appeals on Friday sent a patent-infringement suit against DirecTV Group Inc. to a lower court, vacating decisions that called for DirecTV to pay more than $100 million.
Bank of America Corp. said Monday its profit fell 77 percent in the first quarter, hurt by trading losses and a $3.3 billion increase in reserves for problem loans.
Charles Crumpley believes that county supervisors have more pressing concerns than driving taco trucks out of business.
Shares in toymaker Mattel Inc. dropped nearly 8 percent early Monday after the company reported its first quarterly loss in almost three years.
A redevelopment project for Ports O' Call Village will link the waterfront to new residences and downtown.
Jewelry and other manufacturers who use cyanide in their facilities and discharge that chemical in wastewater are poised to get a break from the state.
Exercise time will get ruff for some pudgy L.A. pets, as a new company named Pooch Pacers takes clients' dogs on runs, not walks.
When Karin Liljegren was just a young girl in Wayne, N.J., she used to tell her mom that she was going to the mall. But instead, she would take the bus into Manhattan and explore the city's landmarks and cultural institutions.
Gemstar-TV Guide International Inc. entered into an agreement with Digeo Inc. that helps settle a pending patent-infringement lawsuit between the two companies.
Tom Petty's April 12 appearance at the Malibu Performing Arts Center was done for charity but it was also done for a rare guitar.
Major events in commercial and industrial real estate across the L.A. region.
Developer Ed Roski Jr. is making a play for pro football by unveiling his plan for a City of Industry stadium.
Fallout from the subprime meltdown has finally put the brakes on Los Angeles County's once torrid office market. First quarter rent increases slowed to a crawl and tenants gave back more space than they leased for the second quarter in a row.
Scott Turicchi, previously an analytical banker, had some doubts that he was outgoing enough to lead tech startup J2 Global Communications.
A Hollywood apartment building east of the 101 Freeway changed hands rapidly this month in another sign of the health of the apartment market and perhaps signaling changing views of the traditionally less desirable area.
Tri-City tenant brokers wondered if the first quarter of 2008 was the yin to 2007's first quarter yang.
Walt Disney Co. plans to start a film division dedicated to making feature-length documentaries about nature, the company said Monday.
Does Douglas Emmett Inc. know something the rest of the San Fernando Valley office market does not?
The Metropolitan Water District will have to face a jury in a case that could cost it hundreds of millions of dollars unless it can reach a settlement by the end of the month.
The San Gabriel Valley's tight industrial market chugged along last quarter as vacancies remained low, rents rose again and users continued to grab space in the centrally located market.
Northrop Grumman's debacle with a Navy ship-building contract offers hope to opponents of its recent contract to build Air Force tankers.
Amicus Capital Services makes legal bets by extending loans to trial lawyers to fund contingency-fee litigation.
After languishing for decades, San Pedro has drawn the attention of developers looking to capitalize on its seaside location.
Rate cuts by the Fed have rocked the bottom line of many local banks, dropping shares to 52-week lows.
Friday, April 18
City National Corp. reported first quarter profit that missed Wall Street estimates.
Until this week, the rules of the music industry didn't apply to Clive Davis. At 76, Davis held the top job at SonyBMG's BMG Music Group, playing Svengali to teen idols like Kelly Clarkson and Alicia Keys.
Shares in Countrywide Financial Corp. surged nearly 7 percent early Friday after SRM Global Fund said it had raised its stake in Countrywide to 8.1 percent.
DirecTV Group Inc. said Friday that it agreed to purchase 180 Connect Inc. to add installation service operations.
Although Tribune Co. is facing revenue trends that are "worse than we expected" Sam Zell told creditors that "it doesn't appear that we will have trouble meeting our commitments going forward."
L.A.'s jobless rate took a big jump in March even as more jobs than expected were added to the local economy as Hollywood kicked into full gear.
Toyota will shutter its Hino commercial truck assembly line in North Long Beach this summer, bringing an end to nearly 70 years of automobile production in Southern California.
Shares in Cathay General Bancorp shot up early Friday after the bank company reported first quarter earnings that beat Wall Street's expectations.
NBA legend Jerry West, Dodgers third-baseman Nomar Garciaparra and a bevy of other major sports figures have accused their prominent Los Angeles investment advisor of gouging them out of more than $3 million in excessive commissions on bond trades.
Ryland Group Inc. said Friday that it will exit the Cincinnati market in 2009 due to the sluggish housing market.
In a week where the Dow Jones industrial average gained more than 300 points or more than 2 percent, the Los Angeles Business Journal's index of the 200 largest public companies added a paltry 0.11 percent. The companies were nearly split down the middle
Thursday, April 17
A 12-story office complex planned near Centinela Avenue and Sepulveda Boulevard won approval this week despite strong opposition from Westchester residents and neighboring community groups.
Reliance Steel & Aluminum Co. reported strong first quarter earnings and sales Thursday thanks to strong pricing that boosted margins. But it lowered guidance for the second quarter.
Hundreds of small businesses in California say they can't afford to offer paid sick days to employees, but Assemblywoman Fiona Ma believes businesses actually could save money by doing so.
Convinced he can succeed where so many before him have failed, billionaire developer Ed Roski today will unveil plans for a proposed NFL stadium in the City of Industry, aimed at luring the league back to the Los Angeles area.
Shares in Cherokee Inc. continued to edge down early Thursday after losing 2.4 percent Wednesday when the company reported that its fourth quarter profit and sales dropped about 80 percent each.
After two days of contract negotiations with the majors, the Screen Actors Guild is looking to put some pressure on the studios by signing interim deals with indie feature producers that would allow actors to continue working on select projects even if a
Edward P. Roski, Jr., the developer behind the Staples Center, announced plans Thursday to build a state-of-the-art NFL stadium in the City of Industry.
Shares in CVB Financial Corp. added more than 6 percent Friday after the parent company of Citizens Business Bank reported strong first quarter earnings.
MannKind Names CFO, Hedge Fund Ups Ryland Stake.
Wednesday, April 16
A double shot of good news fueled shares in local homebuilders and lenders Wednesday.
CORPORATE EXPANSION & RELOCATION 2008
Shares in East West Bancorp Inc. dropped as much as 16 percent Wednesday after the bank reported a plunge in profits and did not provide guidance for 2008 due to a shaky economy, according to the bank.
At a time when many sources of financing for real estate projects are drying up, a fund co-founded by former Lakers guard Earvin "Magic" Johnson has banked $1 billion for commercial developments in urban neighborhoods.
Southern California Edison deserves a 3.6% rate increase in 2009 instead of the 20% hike that the utility has requested, according to the consumer advocacy arm of the state Public Utilities Commission.
Opting for a low-key approach amid the town's fears of a strike, the Screen Actors Guild and the majors have launched feature-primetime negotiations with a minimum of fanfare -- in sharp contrast to last year's incendiary WGA talks.
Los Angeles City Attorney Rocky Delgadillo on Wednesday filed a civil suit against Anthem Blue Cross and its parent company over the health insurer's practices in processing claims and canceling policies.
Tuesday, April 15
Walt Disney Co. animator Ollie Johnston, whose credits include "Snow White and the Seven Dwarfs," "Pinocchio," "Fantasia," "Cinderella," and "Alice in Wonderland," has died. He was 95.
MySpace's chief executive said Tuesday the U.S. networking Web site is poised to thrive in the South Korean market because it pays more attention to local culture than its competitors.
Northrop Grumman Corp. said Tuesday that it plans to take a charge of up to $360 million on its first-quarter earnings because delivery of an amphibious assault ship will be delayed.
IndyMac Chief Foregoes Options; American Apparel Tumbles After Journal Article.
European Aeronautic, Defence & Space Co. Chief Executive Officer Louis Gallois said a probe into alleged insider trading shouldn't harm a contract to build air-to-air refueling tankers for the U.S. Air Force.
With Hollywood thoroughly unnerved by the prospect of a summer strike, the Screen Actors Guild and the majors begin negotiations today on the feature-primetime contract -- but without AFTRA after a last-ditch peacemaking effort by SAG fell flat.
Northrop Grumman Corp., the third- largest U.S. defense company, dropped the most since 2002 in New York trading after saying it will take a first-quarter charge of as much as $360 million because of delays on a new ship.
Shares in Fremont General Corp. lost half of their value Tuesday after the company said the New York Stock Exchange is delisting the company. Its shares will trade on the Pink Sheets beginning Thursday.
Aecom Technology Corp. said late Monday afternoon that it has acquired Canadian engineering firm Totten Sims Hubicki Associates. No financial terms of the deal were disclosed.
Skechers USA Inc. of Manhattan Beach on Monday won a ruling from the U.S. Ninth Circuit Court of Appeals that affirmed the dismissal of the shareholder class-action lawsuit filed against the company in 2003.
Monday, April 14
Business needs to take the reins from politicians in guiding immigration reform, writes Jerry Sullivan.
Organizers of Fiesta Broadway, an annual downtown street fair, see the event expanding beyond its Latino base.
Lexicon Marketing has added vocational training to its Spanish-language correspondence courses.
The number of shipping containers coming into the Port of Los Angeles continues to decline, while the number of exports keeps rising, the port said Monday.
Shares in Hi-Shear Technology Corp. dropped 8 percent early Tuesday after the Torrance-based aerospace company said increased expenses cut profit for the first quarter.
Apparel maker Jerry Leigh has tuned up its pop culture connections by inking deals with singers Avril Lavigne and Gwen Stefani.
American Airlines pilots are planning to demonstrate at several airports as well as at corporate headquarters of some of the airlines' largest customers and shareholders on Tuesday.
The Sub-prime home-loan rush is history. But its impact on the state's work force is just beginning to play out as tens of thousands of real estate, finance and construction workers are left looking for work after a number of heady years.
The real estate market may be turning sour, but investors looking for a safe haven could find a surprising one south of downtown Los Angeles.
A spate of airline shutdowns caused by soaring fuel prices has mired the air travel industry in its worst stretch since 9/11, but not all airlines are looking to cut back.
TMZ.com's Web cam trained on a local eatery is leaving a bad taste in the mouths of stars and restaurant management.
California fails to see the big picture when it comes to retaining Hollywood productions, warns Charles Crumpley.
Employers should familiarize themselves with the rules in dealing with returning war veterans, according to Jeffrey Schieberl and Charles P. Leo.
Hollywood producer Mark Harwell had an easy time finding a name for his new International Basketball League team. He named the Los Angeles Lightning after himself.
Risk is on the rise at Youbet.com in the wake of bad acquisitions and a management shuffle, among other issues.
Concern for environmental issues has guided Bonnie Reiss' career, from show business to advising Gov. Arnold Schwarzenegger to equity investment.
The University of Southern California on Monday said it had signed a letter of intent for the university to buy USC University Hospital and USC Norris Cancer Hospital from Tenet Healthcare Corp.
UWink restaurant will be serving up its mix of food and high-tech games at the Hollywood & Highland shopping center, taking a spot vacated by a Wolfgang Puck eatery.
Non-profit legal aid organization Public Counsel makes its case with young hires by promising social impact, not big salaries.
Oscar-winning special effects firm Digital Domain is hoping to become a Wall Street star when it goes public soon.
Fremont General Corp. agreed to sell its retail bank assets to CapitalSource Inc. of Chevy Chase, Md., although Fremont may have to file Chapter 11 protection to complete the transaction.
The chief executive of American Apparel Inc. has long been known as something of an exhibitionist. Dov Charney is beyond frank when discussing his sex life and sometimes wanders around his factory in his underpants.
The parent of four Providence hospitals in Los Angeles County has made a multimillion-dollar investment in one of the county's largest physician practice management companies.
Inhaled-insulin developer MannKind's market cap was cut in half after negative reports on rival Pfizer's product.
In a move that muddies the outlook for looming actor negotiations, leaders of the Screen Actors Guild have offered AFTRA the opportunity to rejoin SAG at the bargaining table.
Episodic online entertainment or Webisodes are becoming more common at Hollywood's major studios, even though none of these pioneering endeavors has yet to generate any significant revenue.
The accounting industry is promoting legislation to make it easier for out-of-state accountants to provide temporary services to California clients.
Honda's Santa Clarita outpost is revving up as the sole source of engines for an expanded Indy racing league.
There's new action on the local hoops scene. The Los Angeles Lightning will debut in the International Basketball League on April 18. They will play home games at the 1,500-seat Gilbert Sports Arena on the campus of Cal Lutheran University in Thousand Oak
Simulations Plus Inc. shares were hit Tuesday after the software company reported dips in profit and sales for its second quarter.
Kudos, promotions and hirings.
Analysts say the coast is finally clearing for ValueClick after the online ad company weathered several storms.
Second-generation Korean-Americans with dreams of working in high fashion are finding their family business a better fit.
The technology behind Pasadena-based Materia remained relatively low profile for the first seven years after its birth in a Caltech lab.
Shane Shuhart found his calling while watching the MTV premiere of Michael Jackson's music video-cum-horror film spoof "Thriller" in the early '80s.
Friday, April 11
Ixia Inc. cut its first-quarter outlook late Thursday on lower-than-expected sales, sending shares tumbling nearly 13 percent early Friday.
If you hate to sit in traffic at the intersection of Wilshire and Santa Monica boulevards, prepare to discover your inner reserves of patience.
IndyMac Bancorp Inc. said Friday that it made $3.3 billion in loans in March, a 63 percent decline from a year earlier. For February, IndyMac had reported $3.5 billion in mortgages, which was off 58 percent from a year earlier.
Ecuador paid Occidental Petroleum Corp. $100 million Friday to partially settle a tax dispute, a spokesman for the country said.
Positioning the social network as a breeding ground for television series, MySpace has signed a deal with a British-based production firm, ShineReveille International, to distribute its video content overseas.
A week after adding more than 2 percent, the Los Angeles Business Journal's index of the 200 largest public companies took a hit this week, dropping 3.1 percent.
A Houston oil company has agreed to shut down its offshore oil production off Santa Barbara County decades early in exchange for approval this year to drill into untapped undersea reserves and cash in on the nation's record oil prices.
Ihop Corp. said late Thursday that its first-quarter same-store sales grew at both its namesake restaurant chains as well as its newly acquired Applebee's units.
Thursday, April 10
Apartment rents in Southern California are projected to increase slowly in 2008 as a result of the credit crunch, according to a report released Thursday by the USC Lusk Center Casden Forecast.
American Apparel, Inc., the downtown L.A.-based clothing company, is bucking the trend of the recession.
It's been four years, a 20 percent increase in cargo and nearly a dozen major air pollution studies since any significant improvements were made to Port of Long Beach waterfront properties.
99 Cents Only Stores said late Wednesday that its sales rose nearly 5 percent during the fourth quarter, sending shares up more than 5 percent early Thursday.
After 20 years of working as a skycap at Los Angeles International Airport, Henry Watts still smiles as he greets people passing through Terminal Two.
American Apparel Inc. said late Wednesday that its same-store sales climbed 29 percent in the month of March.
The U.S. Securities and Exchange Commission said it had stopped a $29.5-million severance package from being paid to Gemstar-TV Guide International Inc.'s former chief executive, who was charged with securities fraud.
House of Taylor Jewelry Inc. on Thursday said its chief executive, Jack Abramov, and his brother Monty, resigned for personal reasons. Stock in the company dropped more than 7 percent in trading early Thursday
Chevron Corp. should post higher first-quarter earnings than the previous quarter, the second-largest U.S. oil company Wednesday.
Moody's Investors Services raised the outlook on the ratings of VCA Antech Inc. to positive from stable, saying the veterinary hospital operator's profitability and credit metrics will improve in 2008.
MannKind Corp. said Thursday that it has suspended attempts to find a partner for its inhalable insulin product "given the current market sentiment."
Airport area-hotels have lost their bid to overturn L.A.'s living wage law as the state Supreme Court on Thursday announced it has denied a review of the hotels' appeal of the ordinance.
Wednesday, April 9
IndyMac Bancorp Inc. said late Tuesday that it sold $335 million of mortgage loans on April 1 in a private securitization, resulting in a $2 million pretax loss.
Shares of inhaled insulin drug developer MannKind Corp. lost more than half of their value Wednesday after Pfizer warned of increased instances of lung cancer among users of its competing drug Exubera.
A bill that would require peace officers aboard cruise ships sailing from California ports cleared its first hurdle Tuesday as the state Senate's public safety committee voted to move it forward in the legislative process.
Leonard Weil, founder of Manufacturers Bank, has died. He was 85.
DTS Inc. said Tuesday that it has completed the sale of its digital image business to India-based Reliance Big Entertainment Ltd. for $7.5 million in cash.
American Airlines canceled more than 1,000 flights, or nearly 45 percent of its daily schedule, on Wednesday, stranding thousands of passengers and creating chaos at the busiest U.S. airports as it conducted safety inspections of its MD-80 aircraft.
Shares in Hot Topic Inc. closed down 5.6 percent Wednesday, then bounced back in after-market trading when the retailer said its March same-store sales fell less than expected.
Shares in California Pizza Kitchen Inc. gained more than 5 percent Wednesday after the company said that it may report higher-than-expected earnings and beat its initial guidance for same-store sales for the first quarter.
Walt Disney Co. said late Tuesday that it plans to make 10 animated films by 2012 plus four straight-to-DVD films that are part of the "Fairy" franchise.
Tuesday, April 8
In a move designed to pressure the Screen Actors Guild into making a deal, the majors have told the performers union to forget about asking for sweeter terms than those secured by the WGA and DGA.
Amgen Inc. said U.S. regulators plan to delay by three months a decision on whether to approve the company's experimental blood clotting drug
Northrop Grumman Corp., fresh off a victory over Boeing Co. for an aerial refueling tanker contract, is favored to score a second decision over its larger competitor in a $2 billion Navy unmanned spy-plane contest.
Walt Disney Co.-owned theme parks in Paris and Hong Kong are doing "extremely well" compared with a year ago, thanks in part to the weaker U.S. dollar, Disney's Chief Executive Robert Iger said at a press event in New York.
Shares in local homebuilders tumbled early Tuesday after the National Association of Realtors said pending U.S. home sales in February fell to the lowest reading on record.
National Investment Managers Inc. said Tuesday that it has agreed to acquire California Investment Annuity Sales Inc. for about $2.43 million of which $1.43 million is cash.
Home video distributor Image Entertainment on Monday accused Relativity Media, a leading independent film production company, of reneging on a 2006 agreement to provide Image with dozens of films for the DVD market.
Internet Brands Inc. said Tuesday that it has acquired five leisure activity Web sites for its consumer Internet division. Financial terms of the deal were not disclosed.
MySpace.com said Tuesday that it is expanding its offerings for Latinos, adding eight communities focused on such bilingual-centric pop culture subjects such as bands, celebrities and soccer.
Americans love to eat out, but the weak economy could be testing their appetite for restaurant food.
Monday, April 7
Sisters Ashley and Courtney Peldon, professional actresses since they were 3, launched their line of eco-friendly perfumes shortly after graduating from college two years ago.
A U.S. Department of Homeland Security proposal on verifying Social Security numbers will put business owners in a no-win situation, writes Allen Erenbaum.
CalAmp Corp. said Monday that it has settled all matters related to its patent infringement action against Montreal-based iMetrik Solutions Inc. Terms of the settlement were not disclosed.
Walt Disney Co. said Monday that its Interactive Studios division acquired a Chinese game developer while its international licensing division inked a deal with one of Russia's largest independent broadcasters.
Vantage Media works like a marketing company but gets paid only for each lead generated for clients.
Charles Crumpley believes California lawmakers should create a cap and trade plan for greenhouse gases.
Small businesses have traditionally had a more difficult time getting government contracts than their bigger brethren, both nationally and in California.
In this age of high-tech, it's comforting to know there are still low-tech solutions to some problems.
Since taking control of the Tribune Company in December, Sam Zell has drawn a lot of attention in journalism circles for speeches laced with profanity, political incorrectness, insults and self-deprecating humor.
Home sales continued to slow in L.A. County, while the median home price hit a three-year low of $465,000.
El Cholo, the venerable Mexican restaurant on Western Avenue, is celebrating its 85th anniversary this year with a slate of menu options that recognize the history of the eatery.
Some people just can't wait to be entrepreneurs. Take Michael Schneider, whose high school hobby of designing Web sites for friends evolved into a business.
Attitude Positive's software lets small businesses replace cash registers with computers, speeding up checkout while tracking data.
For more than 25 years, Kenneth F. Fisher Jr. went to work every day in a U.S. Army uniform, most recently as a deputy director of the Provincial Reconstruction Team in Baghdad, Iraq.
With Paragon Lake Inc., Jason Reuben and co-founder Matt Lauzon are meshing technology and custom jewelry design in hopes of helping retailers' bottom line.
International media companies are beginning to pony up big bucks for a piece of the television action stateside and producers all over Hollywood are abuzz with takeover rumors. One of those rumors came true last week.
Michigan is adopting what it bills as the most generous film incentives program in the country, offering a 40 percent rebate on production spending to filmmakers, as well as tax credits for companies that invest in new studios.
Supporters of Propositions 98 and 99 are taking different approaches to capping cities' and California's eminent domain powers.
Local and state politicians who call for quick fixes to the economy are just impeding necessary corrections,
The leasehold to the Redondo Beach Marina has been sold for $9.87 million to Decron Properties Corp.
After nine years under Japanese ownership, Vernon metal tubing manufacturer Hannibal Industries Inc. has been acquired by its management.
As students in the entrepreneur program at USC, Dee Murthy and Andres Izquieta couldn't wait to start their men's clothing company. Before the semester even began, they silk-screened 20 sweatshirts as a promotional gimmick for their nonexistent company.
Even though Heidi Klum and Michael Kors told Christina Scarbo her fashions were "out" on the hit TV show "Project Runway," it might have given her the "in" she needed in the world of fashion.
For 28-year-old Nathan Amar, the idea of wearing his favorite vintage reggae album covers has been with him ever since he was a kid.
Major business expansions in L.A. County fell sharply in 2007 as the region's economy deteriorated, according to a report issued Monday.
A feud between rival pomegranate juice makers Purely Juice and POM Wonderful has spilled over into court.
Michael Govan, LACMA chief executive, believes that the time has come for L.A. institutions to impact the art world.
At age 17, Michael Schneider established himself as an entrepreneur.
Children's Place Retail Stores Inc. said Monday that it agreed to sell its Disney Stores to Walt Disney Co. for $50 million to $55 million, less than earlier indicated.
A proposed U.S. rule change would sink business for Hawaii-bound cruises departing from West Coast ports.
Reveal Los Angeles will step out in downtown next year as a competitor to Culver City-based Fashion Week.
Public Storage's sell-off of a majority stake in its European properties will allow it to focus on domestic operations
A lack of space for hotels in West L.A. has hoteliers upgrading existing properties instead of building new.
When Paige Mycoskie attended a sports retail trade show in San Diego two years ago wearing T-shirts she had designed herself, she said she was taken aback when strangers kept asking where they could get the shirts. She decided that day to start her own li
Some recently launched building projects have raised hopes of reviving Westwood Village as a popular retail destination.
Rodrigo Veloso, a fifth-generation coffee grower from Brazil, knew what business to start when he attended school in Sweden: a coffee business. He imported the beans, launched his own brand and eventually started a small chain of shops.
As a consultant for startups, Jason Nazar spent much of his workday looking for documents online, from business plans to licensing agreements.
Sudhin Shahani and his partner Vikramaditya Jain set out three years ago to create a digital media business called myMPO, designed to put an artists' spin on music downloading.
Electro Rent Corp. reported third quarter net income of $4.8 million (19 cents per share) a 7.6 percent dip from $ 5.2 million (20 cents) from the same period a year earlier. However, the company said that last year's profits were bolstered by $1.6 millio
California Pizza Kitchen Inc. said late Friday that it signed a deal with Gourmet Gulf Co. to become a franchise partner. Financial terms of the deal were not disclosed.
Cable magnate John Malone's concern for his shares of IAC/Interactive will likely keep Ticketmaster off the block until 2009.
Six months ago, Stacy Stubblefield was talking about her beagle, Samantha, with a friend who also owned a beagle. They were comparing stories about how smart their dogs are.
Watching the Internet bloom in the late 1990s, Lucas Morea saw the potential for online business.
There's an old Hollywood saw that it takes as much luck as talent for an entertainer to get a big break in show business. Allen Vartazarian and Anthony Zanontian have launched a networking online site that aims to improve the odds on the talent side.
For television networks, it is a common quandary: what do you do about a show that critics adore, that has a passionate base of fans, but that consistently gets mediocre ratings? NBC, for one, thinks it has a creative solution.
Kudos, hirings and promotions.
While youth might be a deficit to some in the business world, it is a benefit to Tyler Barnett and Jason Ellman co-founders of Beverly Hills-based public relations firm Barnett Ellman LLC.
Sanjay Kucheria, president of a Glendale information technology company, learned his lesson last year.
Friday, April 4
Tribune Co is at risk of defaulting on its debt in as little as 18 months if the newspaper business deteriorates further, and it fails to unload more properties.
Nonprofit hospitals, originally set up to serve the poor, have transformed themselves into profit machines. And as the money rolls in, the large tax breaks they receive are drawing fire.
News Corp.'s Fox Interactive Media Internet division could fall short of its fiscal 2008 revenue target of $1 billion, as it reorganizes its divisions to better exploit the online advertising market.
The Los Angeles Business Journal's index of the 200 largest public companies saw its biggest gain since October adding 2.8 percent for the week with 132 of the companies either posting weekly gains or remaining unchanged.
THQ Inc. is looking at buying other video game developers, but the publisher of games like "Cars" and "Saints Row" can grow without making acquisitions, Chief Executive Brian Farrell said late Thursday.
Shares in IPC The Hospitalist Co. gained nearly 8 percent Friday after the company said it was added to the Russell 2000 Index.
Shares of the La Canada Flintridge-based sporting goods retailer fell 20 percent Friday after the company projected a sharper-than-expected fourth quarter loss due to a slowdown in consumer spending.
Emerson College, seeking to upgrade its film and television training center, is relocating the program to Hollywood from Burbank.
Moody's Investors Service late Thursday cut the rating on the bank owned by Countrywide Financial Corp. to "D," or default, because the bank has substantial liquidity issues.
Diodes Inc. said Friday that it will purchase Great Britain-based chipmaker Zetex plc for about $176 million in cash.
Boeing Co. said Friday that the aircraft fuselage proposed by Northrop Grumman Corp. in the competition between the aerospace rivals for a coveted aerial refueling tanker contract should have received lower scores from the contest's evaluators.
The newly-formed Los Angeles County Business Federation on Friday endorsed Los Angeles City Councilman Bernard Parks for a seat on the County Board of Supervisors.
Thursday, April 3
Shares in Napster Inc. shot up nearly 18 percent early Thursday after the company reported that preliminary fourth-quarter sales numbers met the higher end of its forecast.
Liberty Media Corp. bought 78.3 million additional shares in DirecTV Group Inc. to increase its stake in the satellite-television provider to 48 percent, the media company said Thursday.
Northrop Grumman Corp. was fined $15 million by the U.S. State Department for the illegal export of aircraft navigation software.
Shareholders in KB Home rejected a proposal at their annual meeting Thursday morning that would have tied executive pay to performance. But they did approve a measure to limit severance payments, even though managers recommended they vote against it.
The Los Angeles City Controller issued a highly critical audit Thursday of the city's management of contracts for the construction of the new L.A.P.D. headquarters building.
MySpace.com is starting a joint venture with a handful of record companies to sell music and concert tickets via the popular social networking site. Financial terms of the agreement were not disclosed.
A local clothing maker is putting a new spin on a sore subject: American Apparel Inc. is opening stores in China this spring, and stocking them with T-shirts, shorts and hoodies made in downtown L.A.
In what may be the richest in a string of recent deals with superstar musicians, Live Nation Inc. is close to a $150 million, 10-year deal with Jay-Z that would give the concert promoter a financial position in virtually every aspect of the rapper and ent
A federal judge has authorized an in-depth probe of Countrywide Financial Corp.'s mortgage processing systems by bankruptcy investigators hunting for evidence that the lender systematically abuses borrowers.
Wednesday, April 2
The Screen Actors Guild announced Tuesday night that it would begin negotiations with the major studios April 15.
Shares in Capstone Turbine Corp. rose more than 6 percent early Wednesday after the company said it received a $5 million order for its microturbines to be used in hybrid electric buses.
The Writers Guild of America filed arbitration claims against Walt Disney Co.'s ABC, alleging two daytime soap operas kept replacement writers hired during the union's 100-day strike.
When iStar Financial Inc. announced its plan to snap up the commercial real-estate lending business from Fremont General Corp. last spring, the deal was applauded, but instead, the deal has proved toxic.
An agreement is expected to be announced Thursday between the Port of Los Angeles and a coalition of opponents, allowing construction of the port's first terminal expansion in five years.
Avery Dennison Corp. said late Tuesday that it has acquired label maker DM Label Group for an undisclosed sum.
News Corp's (NWSa.N: Quote, Profile, Research) MySpace, the largest online social networking site, will unveil a music joint venture with at least three major music companies within 5 days, sources familiar with the matter said on Wednesday.
Pelican Products Inc., the Torrance-based maker of advanced lighting systems, has appointed retired Marine Corps General Peter Pace as its chairman.
Reliance Buys Conn.-based firm
Hedge fund Third Point LLC said late Tuesday that it currently holds more than 7 percent of the stock of Maguire Properties Inc. and wants to take an active role in the real estate investment trust.
Tuesday, April 1
Northrop Grumman updated analysts with a conference call on the KC-45 tanker program--the $35 billion contract Northrop and EADS beat out Boeing to win.
Sources at Los Angeles television stations KCBS-TV (Channel 2) and KCAL-TV (Channel 9) confirmed that their stations have fallen victim to the same series of newsroom cuts that have affected other CBS owned-and-operated affiliates throughout the country.
Woody Allen asked a federal court on Monday to strip a clothing company known for its racy ads featuring scantily clad models of at least $10 million for using his image on billboards and on the Internet.
More travelers from around the world are descending on Los Angeles International Airport than ever before, even though domestic service remains challenged by record fuel costs and the declining value of the dollar.
LeFrak Organization Inc., a New York-based real estate company that is accumulating trophy property in Los Angeles, on Tuesday bought a Beverly Hills medical office building for what is believed to be a record per-foot price in that city.
Health Net Inc. said Tuesday that it has been hired by Dubai's government to help develop a new health-care funding system for the country. No financial terms of the deal were disclosed.
With SAG suddenly in a hurry to get to the bargaining table, the majors are in the driver's seat in upcoming negotiations with the actors unions.
Northrop Grumman updated analysts with a conference call on the KC-45 tanker program--the $35 billion contract Northrop and EADS beat out Boeing to win.
Amgen Inc.'s chief executive, Kevin Sharer, took home $19.9 million last year, marking a 17 percent dip in the executive's pay.
Abraxis BioScience Inc. said early Tuesday that its fourth-quarter loss widened as costs offset surging drug sales.
Shares in beverage maker Hansen Natural Corp. jumped nearly 8 percent early Tuesday after shares in the company were added to Goldman Sachs & Co.'s buy list.
Public Storage Inc. sold 51 percent of Shurgard Europe to a U.S. retirement fund after scrapping initial plans for a public offering of shares late last year.