Stories for December 2008
Wednesday, December 31
Manhattan Bancorp said it received $13.7 million of additional capital from Carpenter Fund Manager GP LLC. This is the second and final installment of a stock purchase agreement that makes the Irvine-based general partner of Carpenter Community BancFunds
As the Federal Deposit Insurance Corp. continues to work a backroom deal with a private equity consortium known as HoldCo, mortgage finance giant Fannie Mae is now holding the deal hostage and threatening to jeopardize the potential sale, according to so
Vitesse Semiconductor Corp. reported a small profit for its 2008 fiscal year from a combination of cost cuts and slightly higher sales.
Hong Kong's government may accept equity rather than cash as repayment for part of a $782 million loan it gave to Hong Kong Disneyland, its loss-making joint venture with Walt Disney Co, according to news reports.
Local businessman Ezri Namvar's plan to pay back up to $400 million he's been accused of losing has been halted by a group of his investors, who have filed involuntary bankruptcy actions against him and his L.A. investment company, Namco Capital Group Inc
Adding to the drama that has engulfed contract talks between actors and Hollywood studios, moderates on the Screen Actors Guild board are expected to push for the ouster of the union's negotiators.
Tuesday, December 30
Whether the phalanx of L.A. luxury hotels just opening their doors survive the current economic downturn may well depend on Hollywood's appetite for red-carpet events.
The judge who barred MGA Entertainment Inc from selling or manufacturing its Bratz doll line said he is open to modifying his order to allow the toys to be sold through the end of 2009 retail season.
Genius Products Inc. said its stock had been de-listed from the OTC Bulletin Board because the Santa Monica media company was unable to report its third quarter results on time due to prior quarterly restatements.
Tarrant Apparel Group said it has settled litigation with American Rag Cie LLC related to its license to sell American Rag apparel at Macy's.
Jakks Pacific Inc. said it completed its $28.3 million acquisition of Halloween costume and decoration company Disguise Inc. The transaction also includes $27.6 million for license transfer fees and liabilities.
Merrill Lynch said it had loaned $1 million to the Valley Economic Development Center that will be used to help small businesses throughout Southern California.
For the first time in years, clubs in this night-life mecca on Sunset Boulevard and nearby will be ringing in 2009 on Wednesday by slashing cover charges or offering special incentives, such as open bars and free hors d'oeuvres.
Monday, December 29
A consortium of private equity and hedge fund firms, including J.C. Flowers & Co. and Dune Capital Management, is close to a deal to buy the assets of failed mortgage lender IndyMac, said sources familiar with the negotiations.
Managed care provider Prospect Medical Holdings Inc. said it turned from a loss to a profit in the fourth quarter as its revenue grew by nearly a third due to an acquisition.
Kirk Kerkorian completed selling all his Ford Motor Co. shares, a plan announced in October when the billionaire investor said he would focus his investments on energy, gambling and hotels.
While most Americans step into Manolos and Nikes that were stitched together thousands of miles away, J & A; Shoe Co. cranks out 50,000 pairs of heels, wedges and thongs every month at a factory 15 miles south of downtown Los Angeles.
American Apparel Inc. said it promoted Adrian Kowalewski to chief financial officer to succeed Ken Cieply, who left the company in May.
Friday, December 26
The Los Angeles Business Journal's index of the 200 largest local public companies narrowly closed up at the end of a shortened holiday week.
As part of a city overhaul that's expected to generate an extra $18 million as City Hall grapples with a $400 million budget deficit, the Department of Transportation is rolling out new parking meters that take credit cards - and more of your money.
In its second acquisition in a week, Teledyne Technologies Inc. said it acquired the assets of Demo Systems LLC, which makes aircraft-data software.
The owner of Silver Lake Farms is cited by a city agency for composting waste not generated in her home. Officials say she will be OK if they receive no more complaints.
National Lampoon Inc., which is embroiled in an alleged stock manipulation investigation, said director Paul Skjodt had resigned and David Tornek was appointed to replace him.
Nine employers alone will have laid off at least 2,744 employees in Los Angeles County this month, with bankrupt department store chain Mervyns accounting for more than 60 percent of the job losses, according to state data.
Wednesday, December 24
Capstone Turbine Corp. said it filed with the U.S. Securities and Exchange Commission to sell up to $150 million of its securities from time to time.
Barbie turns 50 next year, and her luster has faded over the years. Now, Mattel Inc. executives have begun a sweeping makeover of the doll's marketing in advance of her birthday.
SemBioSys Genetics Inc. said MannKind Corp. purchased an option to license rights to its plant-based genetically engineered human insulin for potential use in Mannkind's inhaler.
A court dismissed a $100 million lawsuit against Edgar Bronfman that claimed the Warner Music Group chief executive failed to compensate a former chief executive of publisher Simon & Schuster for assisting in the 2003 Warner buyout.
Standard & Poor's said it is removing FirstFed Financial Corp. from its S & P; SmallCap 600 after the close of trading on Dec. 31 because its $20.7 million market cap is well below requirements for that index.
ndyMac Bank, the California mortgage lender seized by U.S. regulators five months ago, will be sold by the Federal Deposit Insurance Corp. before the end of this year, said a person familiar with the matter.
In the biggest boost yet for commercial investment in outer space, the U.S. government awarded Hawthorne-based SpaceX and another company contracts valued at up to $3.5 billion to ship cargo to the International Space Station.
Tuesday, December 23
Los Angeles' financially strapped Museum of Contemporary Art has voted to accept Eli Broad's $30-million bailout offer. UCLA Chancellor Emeritus Charles E. Young was appointed the museum's first chief executive.
A federal court in Los Angeles dismissed a lawsuit against Amgen Inc. and two kidney dialysis providers that had alleged illegal promotion of Amgen's anemia drugs. The court said the complaint should have been made to regulators rather than a court.
State regulators have cracked down on L.A.-area businesses in the garment and car wash industries, levying more than $200,000 in fines.
Ducommun Inc. said it acquired competitor DynaBil Industries Inc., which makes titanium and aluminum structural components for commercial and military aerospace craft, for $46.5 million.
The Ryland Group Inc. and BreitBurn Energy Partners L.P. said their boards have approved stockholder rights plans designed to discourage hostile takeover attempts.
A key senator has questioned regulators' approval of a backdated cash infusion for IndyMac, a big thrift that failed in July and cost the federal insurance fund for banks nearly $9 billion. The official at the Office of Thrift Supervision who approved the
Facing growing internal dissent, leaders of the Screen Actors Guild have postponed SAG's divisive strike authorization vote for two weeks.
Monday, December 22
Comedy content producer National Lampoon faces serious challenges after its CEO was charged in securities fraud.
Plastic resin manufacturer Cereplast Inc. takes aggressive steps on new plant, financing.
The Hollywood Entertainment District has named Christopher Bonbright, chief executive of Ramsey-Shilling Commercial Real Estate Services, as its president.
With a passion for technology and media, Sean Lyden said he enjoys the career challenge of staying ahead of the curve.
Bob Bertelli has been fishing for sea urchins for years off the Palos Verdes Peninsula and Catalina Island coastlines to sell at wholesale.
Insurance company Unico American Corp. said its board of directors has authorized a repurchase program to acquire up to 500,000 shares of its outstanding common stock.
2008 proves reading a crystal ball is still an inexact science, writes Charles Crumpley.
In recent years, the trendy section of Robertson Boulevard between Third Street and Beverly Boulevard has become a bellwether for the local retail leasing market, exploding in popularity.
MGA Entertainment Inc. has asked a judge to delay enforcing an order requiring it to turn over all of its Bratz dolls, models and marketing materials to rival Mattel Inc. until MGA can appeal his permanent injunction preventing the company from making and
The U.S. Navy awarded a $14 billion contract to General Dynamics Corp and Northrop Grumman Corp. for eight Virginia-class submarines, the Pentagon said.
Lessons on the current economic downturn can be found in the previous slowdown, according to Katy Delay.
Cadforce Inc., an outsourcer of architectural design work, finds kindred spirit in Indian company.
Gumiyo, a Woodland Hills mobile marketing firm, has teamed up with the Los Angeles Times to provide the paper's auto and real estate classified ads to cell phones.
IndyMac Bank's U.S. regulator allowed the lender to backdate a capital infusion from its holding company to let the mortgage lender maintain "well-capitalized" status and escape regulatory sanctions, the Treasury Department's watchdog arm said.
The recent order by a federal judge that stripped MGA Entertainment Inc. of rights to the Bratz doll franchise could have ramifications for another L.A.-area company: THQ Inc.
Radlink Inc.'s sales of low-cost medical imaging equipment tripped up by problems with supplier of key parts.
Teledyne Technologies Inc. said it bought a Baton Rouge, La. company that has developed technology used for offshore energy exploration, port surveys and dredging.
2008 was a story of steady and often steep declines for companies that make up the LABJ 200 stock index.
Televisa and Univision have turned to the courts to get a clearer picture on their programming feud.
Snack food company Mrs. May's Naturals Inc. hopes consumers take a bite on its new 99-cent product.
Another former American Apparel employee has filed a wrongful termination lawsuit against the company. The L.A. apparel company claims the suit, which makes charges of financial misconduct related to the company's European operations, is in retaliation fo
Embattled businessman Ezri Namvar is working to repay his investors and stay out of bankruptcy court.
Exxel Outdoors Inc. is used to standing out from the crowd.
Anthony Pellicano was sentenced in federal court to 15 years in prison. The private investigator was convicted in August of conspiring to illegally wiretap Lisa Bonder Kerkorian, billionaire Kirk Kerkorian's ex-wife, during a child support dispute.
Some L.A.-area clubs and restaurants will be offering New Year's Eve entertainment at a discount.
Analysts and local business executives expect that the financial problems felt in Los Angeles will continue to take a toll in 2009.
Amgen Inc. said it has sought U.S. regulatory approval of denosumab, a highly anticipated bone loss drug the company hopes will replace its damaged anemia franchise as a sales accelerator for the company.
Today's economy may be depressing, but reporters should lighten up on all the comparisons to the Great Depression, writes Ron Shinkman.
Lexicon Marketing affected as English-language instruction for Spanish speakers takes hit from economic downturn.
The city of Los Angeles should consider privatizing dozens of major operations, including Ontario International Airport, according to a report commissioned by the office of City Controller Laura Chick.
IPC The Hospitalist Company Inc. said it made its 10th acquisition of the year, buying National Medical Affiliates Inc. in Punta Gorda, Fla. for an undisclosed amount.
More non-profit organizations hope that by merging operations they can save money.
Patricia Gracia, president of Hispanic advertising agency Power Media Group in Santa Clarita, was in a restaurant recently finalizing a deal with a client when a man approached and asked if her group was enjoying lunch.
Even with much of the town now on vacation, the feverish battle over the Screen Actors Guild strike authorization vote will continue through the holidays.
California is broke and cannot afford thousands of public works projects, but Uncle Sam could be riding to the rescue. Officials have identified $28 billion worth of ready-to-go projects that could benefit from President-elect Barack Obama's projected $85
It's no big secret that the mergers and acquisitions market is struggling. But it may even be worse than it appears.
Friday, December 19
L.A. Mayor Antonio Villaraigosa shuffled the deck of city commissioners, placing former Paramount Studios executive Christine Essel on the Airport Commission and naming Andrea Alarcon to the Board of Taxicab Commissioners.
American Apparel Inc. said it renegotiated the terms of more than $100 million in debt, extending the maturity date until April.
The Los Angeles Business Journal's index of the 200 largest local public companies closed up for the week ended Dec. 19, as the markets cheered news that President Bush had approved using federal bailout funds for a $17.4 million loan to beleaguered U.S.
L.A. County's unemployment rate shot up to 8.9 percent in November, it's highest level in 14 years, as the recession continued hammering the region's construction, retail and manufacturing sectors and spread to the leisure and food service industries.
Gov. Arnold Schwarzenegger said he will not sign a package of bills Democrats sent him to increase taxes and make program cuts, an $18 billion effort passed without Republican votes.
After six years of delays and legal wrangling, China Shipping Holding Co. will finally undergo a massive $85 million expansion at the Port of Los Angeles under a plan approved by the Board of Harbor Commissioners.
President-elect Barack Obama announced the final selections for his Cabinet, naming Rep. Hilda L. Solis (D-Calif.) as labor secretary.
When Sumner Redstone was forced to sell more than $200 million of stock in CBS and Viacom to satisfy terms of a big bank loan, the media mogul and his executive daughter appeared presented a united front. That's turned out not to have been the case.
Live Nation Inc. bought back 1.6 million of its shares from Irish rock band U2 for $25 million, taking a $19 million loss on the deal, according to a report the Beverly Hills concert promoter filed with regulators Thursday.
Thursday, December 18
Teledyne Reynolds Inc. agreed to settle allegations that a company it acquired had fraudulently overbilled the U.S. Air Force. The L.A. defense contractor, which agreed to pay the government $825,000, did not admit any wrongdoing.
Tetra Tech Inc. said it was awarded a $240 million contract to provide various services to the U.S. Army Corps of Engineers.
People's Liberation Inc. said it is pulling its trendy denim apparel out of high-end department stores, and has made boutique retailer Charlotte Russe Holding Inc. its exclusive distributor in North and Central America.
Next Century Associates LLC, which bought the Century Plaza hotel site in June, unveiled plans to demolish the iconic Hyatt Regency hotel and create a $2 billion mixed-use project on the 5.75 acre Century City site.
National Lampoon Inc. said Chief Executive Daniel S. Laikin resigned in the wake of his indictment earlier this week on charges related to an alleged stock manipulation scheme.
With developer Ed Roski poised to build an NFL stadium and retail project on the east side of City of Industry, its City Council is asking voters to approve an unusually large $500 million infrastructure bond next month.
Macrovision, the owner of TV Guide, has found a buyer for its utilitarian television network of program listings.
Barack Obama has selected Los Angeles congresswoman Hilda Solis to run his Labor Department, a labor source confirmed.
Wednesday, December 17
Walt Disney Co. plans to raise $1 billion via five-year notes in its first U.S. bond offering in more than a year, according to media reports.
It's starting to look like embattled mogul Sumner Redstone will have a reasonably happy,or at least quiet,Hanukkah after all. The 85-year-old majority owner of CBS and Viacom, who is struggling to restructure $1.6 billion in defaulted debt, won't have to
Center Financial Corp. said it settled all disputes with First Intercontinental Bank concerning its cancelled acquisition of the Georgia commercial bank, It will pay Intercontinental $100,000 but not admit any wrongdoing.
Roger Snoble, chief of the Metropolitan Transportation Authority for seven years, plans to announce his retirement Wednesday.
The owner of Best Diamond Funding in Huntington Park was arrested on federal charges of running a Ponzi scheme that lured more than 2,000 mostly Hispanic victims into investing more than $62 million, according to the U.S. Attorney's Office in Los Angeles.
Liberty Media Corp.'s proposed spinoff of its stake in DirecTV Group Inc. and other entertainment assets may take four to six months to complete, Chief Executive Officer Greg Maffei said.
Anthony Iommi, lead guitarist of the rock band Black Sabbath, sued Live Nation Inc. for trademark infringement, charging that a subsidiary illegally sold merchandise using images of the band.
Screenwriter Eric Roth, Steven Spielberg and Jeffrey Katzenberg are among those who suffered losses in investment manager Bernie Madoff's alleged $50-billion Ponzi scheme.
Entravision Communications said it has been warned by the New York Stock Exchange that the Spanish-language TV and radio station owner must raise its stock price in order to remain listed on the stock exchange.
A board headed by State Treasurer Bill Lockyer voted unanimously to freeze $3.8 billion in state financing for more than 2,000 road, levee, school and housing construction projects throughout California until the state budget is balanced.
The Los Angeles City Council unanimously approved a temporary ban on new billboards. The ban will last three months while the city attorney and planning department draft permanent changes to L.A.'s sign ordinances.
Tuesday, December 16
Workers at the LAX Hilton filed a purported class action lawsuit against the hotel, alleging a pattern of violations of California wage and hour laws since at least 2004. The action is the latest salvo in the hotel's ongoing dispute with workers who have
Wall Street financier Bernard L. Madoff's alleged $50-billion Ponzi scheme appears to have extended deeply into Southern California's Jewish community, with millions of dollars in losses tallied by charitable organizations, Hollywood executive Jeffrey Kat
The Los Angeles Board of Education voted to give Ramon Cortines a second try as superintendent, giving him a three-year contract to take over from David Brewer at the beginning of next year.
The Walt Disney Co. said it is launching a Disney-branded television channel on 30 TV stations in Russia in a joint venture with station owner Media-One Holdings Ltd.
Obagi Medical Products Inc. announced an expansion of its relationship with Rohto Pharmaceutical Co. Ltd., a manufacturer of over-the-counter personal care products and Obagi's marketing and distribution partner in Japan.
Documents show Dennis Quaid and his wife have agreed to a a $750,000 settlement with a hospital that gave his newborn twins an overdose of blood thinner in 207.
A Los Angeles Superior Court judge upheld the city of Los Angeles' rejection of the controversial 5,553-home Las Lomas real estate development project in the Antelope Valley, dealing a serious setback to the project.
Monday, December 15
Andy Funk gave up his German family's insurance business for L.A. and software startups.
What's a draw for L.A. shoppers? Two words: free parking.
Andrew Spitser is an indie rock musician who's used to being on stage, but his Dec. 6 performance at the Key Club on Sunset Boulevard was particularly nerve-wracking.
Charles Crumpley writes that Jay Leno's move into prime time will mean even less work for L.A. actors.
The Los Angeles Kings are hoping for some new hockey fans.
Westwood-based law firm Richardson & Patel LLP has launched an Economic Solutions Group for its clients to address concerns in the current economic environment. The firm specializes in corporate securities, litigation and bankruptcy.
L.A. hedge funds are traveling the same tough road as their older and bigger counterparts in New York.
As SAG called off an emergency Friday board meeting, more than 130 stars -- including George Clooney, Matt Damon and Tom Hanks -- have strongly urged SAG members to vote down the guild's strike authorization.
Special effects house Mastersfx still likes to get physical with its film and TV creations.
Two large lease deals have recently been brokered at 1500 Hughes Way in Long Beach, long the home of Raytheon Co.
An L.A. law firm that was owned by New York attorney Marc Dreier ended its relationship with him when he was charged with securities fraud last week.
The ports of Los Angeles and Long Beach want to move ahead with expansion projects would cut pollution, create jobs and prepare the complex for a shipping rebound, officials say.
Investing in LAX will help Los Angeles' economy take off, according to Bill Allen.
Maurice Hebert has been named chief financial officer of Hythiam, a West L.A. company that provides addiction treatment programs for health plans and employers.
Chicago native Bill Browning knew that he would go into accounting as soon as he graduated from the University of Oklahoma.
Private investigator Anthony Pellicano was sentenced in federal court to 15 years in prison over the illegal wiretapping of the ex-wife of billionaire Kirk Kerkorian.
Car dealership Galpin Ford looks to corral customers with deeply discounted Mustangs.
Founded by three ex-Drexel Burnham Lambert executives, Canyon Capital Advisors has emerged as one of the largest hedge fund shops in Los Angeles.
Is the Activion Blizzard's "Guitar Hero" video game franchise a gateway drug to becoming a rock star?
In an industry built on discretion, the 37-year-old Andrew Lahde has earned a reputation for his outspokenness.
A plan to take restaurant chain operator Grill Concepts private could serve up savings.
Despite the volatile stock market, Liberty Media Corp. said its board agreed to continue plans to spin off Liberty Entertainment group, which includes El Segundo satellite operator DirecTV Group Inc., into a separate publicly traded company.
Westlake Village stands out among as the most business-friendly city in L.A. County, according to a new study from Kosmont Cos. and the Rose Institute of State and Local Government at Claremont McKenna College.
National Lampoon Inc. executives and consultants, including Chief Executive Daniel Laikin, were charged by the Securities and Exchange Commission and federal investigators in connection with an alleged stock manipulation scheme.
Dean Singleton expanded his newspaper empire at the worst possible time, in the worst part of the country he could have chosen, and he has been paying the price ever since in plummeting advertising and shrinking papers. Yet somehow, even in today's advers
Auto engineer Christopher Pratt's personal drive led him to launch online retailer CandyWarehouse.com.
Local law firms take different approaches to control spin about layoffs.
Since it was founded a decade ago, Dalton Investments, a West Los Angeles hedge fund firm with $800 million under management, has found lucrative investment opportunities in the Asian equity markets.
The MTA's planned subway expansion should encourage mixed-use development, according to Ernesto Vasquez and Jeffrey Mayer.
Truck operators that made the shift at the ports to "green" trucks feel like they got the shaft.
Dialysis clinic chain DaVita Inc. said it is responding to a federal subpoena for documents related to Medicare claims for several drugs. The subpoena is related to a previously announced investigation.
Developers are betting on a retail-residential project to replace the Hollywood Park race track.
Mattel Inc. agreed to pay $12 million to 39 U.S. states to settle claims it shipped toys tainted with lead paint, attorneys general in various states said.
Michael Halpern and Mark Zucker head up one of L.A.'s largest hedge fund companies, with three "funds of funds" that invest in other hedge funds.
The owner of the Los Angeles Times and KTLA Channel 5 filed for Chapter 11 reorganization, seeking time to deal with its mountain of debt.
A former executive of KB Home pleaded guilty to conspiring to obstruct justice in connection with stock option backdating at the L.A.-based home builder.
Buying debt gave Hines of Houston an opportunity to pick up L.A. properties on the cheap in a down economy.
The Wall Street crisis has led to talk of increased government scrutiny of hedge funds.
For Rishi Narang, the key to hedge fund management is all in the numbers. Narang takes a quantitative analysis approach to investing.
Analysts expect satellite TV service DirecTV to channel subscribers despite an economic slowdown.
Saturday, December 13
Father Gregory Boyle's Homeboy Industries deserves everyone's help, argues columnist Tim Ruttan. The state and the county are cutting off aid to the L.A. anti-gang program, and donations are drying up.
An East Coast faction of the Screen Actors Guild has called for the union to suspend an upcoming vote to authorize a strike amid stalled negotiations with Hollywood producers.
Friday, December 12
Three more Los Angeles area banks said they are participating in the U.S. Treasury Department's Capital Purchase Program.
State air regulators have adopted the nation's most sweeping regulation of diesel trucks and buses, requiring all diesel truck owners to either put expensive filters on their rigs or to replace their engines.
Lawyers for MGA Entertainment Inc. have notified a federal court that the Van Nuys toymaker intends to appeal a permanent injunction preventing the company from making and selling its Bratz dolls.
L.A. Mayor Antonio Villaraigosa filled two positions on city commissions important to the business community. One of the appointments was of investment executive Sean Burton to the city's Planning Commission,
A former L.A. hospital executive admitted he paid a man to recruit homeless people for unnecessary medical treatment in a scheme to bilk government health programs out of millions of dollars.
Macerich Co. said retailers Forever 21 and Kohl's are expected to move into 22 of 41 Mervyns locations it owns once the retailer completes its liquidation sales and closes.
The launch of Reveal Los Angeles, a fashion show planned as a rival to Mercedes-Benz Fashion Week, has been postponed to October 2009 due to the economy, according to a spokeswoman for the show.
DreamWorks Animation SKG is launching its franchise characters into new lines of business, giving the Glendale studio a chance to grow steadily and consistently even during a recession that already is slowing its DVD sales.
The Los Angeles Business Journal's index of the 200 largest local public companies closed up for the week ended Dec. 12, as the overall markets cheered news that the White House was willing to use federal bailout funds to aid the Big Three automakers.
Vernon-based BCBGMaxAzriaGroup Inc. has laid off 125 employees across all areas of the company's operations, according to a company spokesperson.
Thursday, December 11
Office and industrial properties across the Southland will continue to feel the effects of business closures and slower global trade well into 2009, according to the latest forecast from University of Southern California's Lusk Center for Real Estate.
Home foreclosures in Los Angeles County in November rose 69 percent from the same month a year earlier, according to a new report from RealtyTrac Inc., an Irvine-based seller of foreclosure data.
Next year will be an ugly one for the California economy with continued job losses and falling incomes as the nationwide recession deepens, according to the latest quarterly forecast from the UCLA Anderson School of Management.
They're derided as the goofy stepkids of the Oscars, looked down on by much of the elite press. Want to know who pays serious attention to the Golden Globes? The people who matter: Hollywood's bean counters.
DineEquity Inc. said it will suspend its quarterly cash dividend for the "foreseeable future" and use the money instead to pay down debt.
A downturn in the real estate market and a precipitous drop in qualified buyers are prompting the conversion of downtown L.A. condominiums into rental units.
The Screen Actors Guild has made its strike threat official, announcing it will send out authorization ballots Jan. 2 and reveal the results Jan. 23 -- setting the stage for an Oscars boycott and a halt to most production.
Wednesday, December 10
Ducommun Inc., which provides engineering and manufacturing services to the aerospace industry, said a subsidiary received a multi-year contract from Raytheon Co. potentially worth more than $102 million.
Ivory Investment Management LP, a Los Angeles-based hedge fund and one of Yahoo Inc.'s largest shareholders, called for the Internet company to pursue a sale of its search engine unit to Microsoft.
The slumping economy has forced the Port of Los Angeles to cut its current spending budget by more than $20.5 million amid a projected 20 to 30 percent decline in shipments during the first quarter of 2009.
The Beverly Center said it will terminate the lease of Pet Love at the end of January. The move came after Best Friends Animal Society set up information tables at the mall protesting the popular store's alleged practice of selling animals from puppy mill
Korn/Ferry International Inc. said a global slowdown in hiring caused its net income to drop 20 percent in its second quarter, prompting the executive recruiter to cut 400 jobs.
CKE Restaurants Inc. said its third-quarter net income fell 13 percent, primarily due to interest expenses unrelated to sales at its Carl's Jr. and Hardee's fast food restaurants.
Ramping up its strike authorization campaign, the Screen Actors Guild has scheduled a third town hall meeting Dec. 17 at the Hollywood Renaissance Hotel -- aiming to assure members that they won't be turned away.
Apparel brand licensing company Cherokee Inc. said the poor economy and a weak dollar overseas drove down net income by 12 percent in its third quarter.
Emotive Communications said it completed its second round of venture capital financing. The $6.25 million infusion enabled the Los Angeles mobile entertainment developer to acquire Sennari Entertainment, which makes networked games for cell phones and oth
Tuesday, December 9
Arguing that it is too costly to remain a public company, Grill Concepts Inc. said it plans to ask shareholder permission to cease registration of the company's common stock and stop trading on the Nasdaq Capital Market.
About 400 Screen Actors Guild members at a meeting in Hollywood have given their leaders an enthusiastic, though still unofficial endorsement of the guild's push for a strike authorization.
The Los Angeles Board of Education voted 5-2 to buy out the contract of Supt. David Brewer. That clears the way for Ramon Cortines, who had been the mayor's chief education adviser, to get the top job.
CKE Restaurants Inc. said it will build 12 Carl's Jr. restaurants in Kazakhstan over the next five years in partnership with a longtime overseas franchisee.
Maguire Aviation and Shangri-La Construction said they are in negotiations to build a "green" jet hangar at Van Nuys Airport. The facility would be similar to a $17-million environmentally friendly facility that Shangri-La unveiled Tuesday at Bob Hope Air
The integration of Southern California's suburban communities continued apace into the second half of the decade, driven by steadily growing numbers of Latinos and Asians moving into middle-class neighborhoods, according to new census data.
Sam Zell financed much his $8.2 billion takeover of Tribune Co. last year by borrowing against part of the future of his employees' pension plan. In the wake of this week's Chapter 11 filing, Los Angeles Times and other Tribune employees probably be left
Northrop Grumman Corp. said it has won a $15.5 million order for the fifth year of a five-year contract to provide technical help on navigation systems installed on U.S. Navy ships and submarines.
The Santa Barbara County Board of Supervisors has upheld the Montecito Planning Commission's approval of Los Angeles developer Rick Caruso's Miramar resort project.
Monday, December 8
LAUSD's new school campuses are designed to function as community centers, writes Adrian Cohen.
Blank check company Asianada Inc. said it changed its name to Lateral Media Inc. and a former Disney executive, Jeffrey Schwartz, has come on board as chairman and chief executive.
November's home prices drop 31 percent from the same month last year while buyers snap up cheap foreclosed properties.
Some guys just can't slow down. In this special report, the Business Journal features eight Angelenos who are 80 or older and not only still in the race, but outpacing many of the young guys in their 50s and 60s.
Some local vocational schools help students make the grade by offering loans to pay tuition.
SPECIAL REPORT: Eight in Their 80s
For Tom Jones, former chief executive of Northrop Corp., retirement was just the end of Act I.
When it comes to morning news on L.A.'s local television, Fox's KTTV (Channel 11) continued to dominate the ratings through this year's November "sweeps," a period of time that is used to set shows' advertising value.
Video site Hulu.com is drawing audiences and ad dollars, but rivals are stepping up their services.
The Screen Actors Guild, with its upcoming strike authorization vote in the spotlight, will take the town's temperature via a pair of meetings to update members, publicists and managers.
The Walt Disney Co. said a unit will boost its ownership share of European children's media company Jetix Europe NV. The company is known for its Asian-inspired Power Rangers and other animated TV programs.
Cydcor Inc., an outsource sales operations company based in Westlake Village, has recommitted to the Conejo Valley, an office market that's been hit hard by the real estate slowdown.
George Phillips Sr. is still at work because wants to see his investments come to fruition.
Instead of bailing out the Big Three automakers, money should be spent on mass transit, according to Richard Risemberg.
Zalemark Inc., a Sherman Oaks jewelry designer and maker, has merged with Dallas-based investment firm Charis Industries Inc.
What started with online sales of motorized golf caddies has turned into a thriving Ventura County business that could soon grow into a dealership for electric vehicles.
A Brentwood businessman's collapsed ventures have rattled Westside's Persian Jewish community.
Attorney Keith Fink doesn't shrink from high-profile fights with the likes of Ellen DeGeneres and American Apparel's Dov Charney.
A high price and possibly exaggerated benefits are hurdles to sales of Romfab's exercise machine.
Richard Rosenblatt wants to be clear: He's not interested in being chief executive of Yahoo Inc.
NBC Universal announced its long-anticipated executive shakeup in its TV divisions, with international production chief Angela Bromstad taking over the company's scripted efforts and former BBC Worldwide Prods. president Paul Telegdy joining the network a
SPECIAL REPORT: Eight in Their Eighties
The best day of Julian Myers' career was the morning he got Marilyn Monroe out of bed.
Local bank holding companies Center Financial Corp. and First California Financial Group Inc. can now count themselves among the growing number of institutions to receive funds under the U.S. Treasury Department's financial rescue program.
Mattel's court victory in the Bratz doll case may mean curtains for MGA.
Tribune Co. filed for bankruptcy protection as the Chicago-based owner of the Los Angeles Times and KTLA Channel 5 tries to buy time to deal with $13 billion in debt.
Charles Crumpley writes that opponents of eHarmony's same-sex site may have misdirected their passion.
A homeowners association may stand in the way of a deal for a Beverly Hills megamansion.
An investor suit challenging Countrywide's home-loan modifications may signal trouble for similar programs.
At 91, Topa Equities Chief Executive John Anderson continues to stick by his motto to always be ethical in business and do the right thing.
Hollywood heads are being scratched over Nyx's $100 million buyout of video distributor Image.
Broadcaster Saul Levine says the secret of success is hard work, and lots of it.
Skechers USA Inc. has settled litigation with rival Crocs Inc. that will require the trendy Manhattan Beach shoemaker to stop making products similar to Crocs' signature plastic clogs.
Entertainment attorney Arnold Peter was booked on a flight to Mumbai and a room at the Taj Mahal Palace last week in order to put some deals together between Hollywood and Bollywood.
Three members of the L.A. City Council have asked City Attorney Rocky Delgadillo's office to make a less restrictive draft ordinance to regulate the city's medical marijuana dispensaries.
Oversee.net, a downtown Los Angeles online marketing company, has named Lawrence Ng chairman and Jeff Kupietzky president. Ng is co-founder of the company.
SPECIAL REPORT: Eight in Their 80s
Serial entrepreneur Alfred Mann generally puts in longer hours now than when he founded his first company more than a half-century ago.
Friday, December 5
Freight logistics company UTi Worldwide Inc. said its third-quarter net income beat Wall Street expectations, rising 8.6 percent as cost-cutting offset declining freight revenues.
A new law enforcement task force charged with thwarting smugglers at the ports of Los Angeles and Long Beach has confiscated 140 pounds of cocaine, 50 weapons and $25 million worth of counterfeit goods in just five weeks.
The Los Angeles City Council voted to re-authorize a billboard inspection program that will charge fees from outdoor advertising companies.
Mattel Inc. and eight other toy companies agreed to pay nearly $1.8 million to settle a California lawsuit over Chinese-made toys tainted with lead.
The SEIU is investigating whether union official Annelle Grajeda helped former boyfriend Alejandro Stephens, who had headed an Los Angeles local that merged with hers, stay on the L.A. County payroll. She denies wrongdoing.
Viacom Inc. and NBC Universal are cutting a combined 1,350 positions worldwide as the recession slows advertising sales and movie revenue.
One L.A. memorabilia dealer's search for the broomstick of the Wicked Witch of the West.
The Los Angeles Business Journal's index of the 200 largest local public companies was virtually unchanged for the week ended Dec. 5 as investors pondered whether the federal government will step in to help the economy following the loss of more than half
Thursday, December 4
Shares of MannKind Corp. rose after the Valencia biotech said a new study indicates its inhaled insulin product didn't cause adverse lung effects.
Shares of Mattel Inc. rose in morning trading after the Barbie doll maker won a permanent injunction banning rival toymaker MGA Entertainment Inc. from making and selling Bratz dolls, which were found to infringe on Mattel's copyrights.
Guess Inc. said its net income rose 10 percent in the third quarter, beating expectations. But the apparel retailer cut its full-year revenue and profit outlook, citing the slowing economy.
Lavish parties and extravagant events are in vogue as the economic slowdown causes marketers to focus on their high-net-worth customers.
Edison International received state approval to go ahead with a contract with a local solar energy startup for new solar power plants in Kern County.
Wednesday, December 3
Skechers USA Inc. has settled litigation with rival Crocs Inc. that will require the trendy Manhattan Beach shoe maker to stop making products similar to Crocs' signature plastic clogs, the companies said.
As Hollywood braces for what could be its second labor walkout in a year, the fundamental contract issue dividing the Screen Actors Guild and the major studios is what the future holds for online entertainment.
Aerovironment Inc. shares jumped 7 percent in after-hours trading after the company reported better-than-expected second quarter results, driven by higher sales of its unmanned aircraft and its energy systems.
Farmer Bros. Co. said it is buying Sara Lee Corp.'s foodservice coffee business for $45 million.
Massive Inc., Microsoft Corp.'s video game advertising unit, said it signed deals with Activision Blizzard Inc. to provide ads for its Blizzard's Web sites and the Battle.net online game service in the U.S. and several other countries.
When Eli Broad announced recently that he wanted to help bail out the financially woebegone Museum of Contemporary Art by making a $30-million "investment" in its rescue, his choice of words made some wonder what he might want in return. But billionaire p
A deal between Google Inc. and the Hallmark Channel will enable advertisers to place ads on Hallmark's television channels through the Internet search operator, the companies said.
Like the red carpet, gifting suites have become a staple of the awards-show experience. This year, with the Golden Globes and other events occurring in the midst of a severe economic downturn, they're more in the spotlight than ever.
Tuesday, December 2
Measure H, the Beverly Hills referendum that would allow the construction of two condo buildings and a Waldorf-Astoria hotel at the site of the Beverly Hilton, has passed by a slim margin of 129 votes. Measure R, the half-cent county sales tax increase fo
Leaders of the Screen Actors Guild have told their 120,000 members that they don't want to strike -- even though they're seeking an authorization from them to do so.
Zenith National Insurance Corp. said former Assembly Speaker Fabian N & #250; & #324;ez has been appointed to its board of directors.
A major Texas developer said it took possession of 53 Southern California office buildings last week in a transaction valued at almost $1.4 billion after the previous owners were unable keep up their loan payments. Among the properties are Beverly Atrium
Citing the poor economy, the Long Beach Board of Harbor Commissioners voted to delay for at least six months the collection of a cargo container fee that would help fund road, rail and bridge improvements in the harbor area.
Live Nation Inc. said it has made Blockbuster Inc. a preferred outlet for selling tickets for its concerts and live events around the country.
Countrywide Financial Corp. was sued by Greenwich Financial Services Fund over claims an agreement to reduce payments on mortgages by $8.4 billion would hurt investors.
Monday, December 1
L.A. Live is filling out as five businesses are poised to open in the downtown project by Saturday.
Three months after swimsuit designer Ashley Paige made her life available for the world on the TLC reality show "Bikini or Bust," Paige is a star and her shop on Cahuenga Boulevard in Hollywood is a destination.
Michael Griffith of hit video-game developer Activision, sees similarities with his stint at Procter & Gamble.
Real estate investment firm CB Richard Ellis Investors has appointed Peter DiCorpo chief operating officer in its downtown L.A. office.
Matchmaking site eHarmony is getting little love for its decision to launch a gay-dating service.
Business software maker Symark International said that John Mutch was appointed chief executive officer.
Two marketing companies have consummated a Hollywood marriage aimed at making companies look like they care.
Charles Crumpley suspects some borrowers are beyond the help of home-loan modification programs.
Sumner Redstone's family holding company National Amusements Inc. is sitting on a trove of cash and near-term liquid assets of around $500 million after its latest deal to exit Midway Games Inc. But it is still far from out of the woods,
In an unusual step, American Apparel Inc. filed suit in Los Angeles Superior Court against a former employee in an attempt to pre-empt a wrongful discrimination lawsuit from her.
A federal judge sentenced prominent entertainment attorney Terry Christensen to three years in prison and fined him $250,000 for conspiring to illegally wiretap the ex-wife of billionaire Kirk Kerkorian.
Quant the News' Stockmood Web site assesses news stories on companies to help investors place their money.
J2 Global Communications Inc. said it acquired most of MailWise LLC and the fax and voice messaging units of Mijanda Inc.
Because her father was in the Air Force, Angela Courtin traveled the world as a child. She currently applies her business acumen at social networking site MySpace.
The Weingart Foundation is offering relief to pinched non-profits by picking up operating expenses.
They tried life as a boutique for more than two years, and now they need the muscle that a partnership with a big firm can provide.
Financial terms used by politicians keep Californians from knowing what's at stake, writes Daniel J.B. Mitchell.
CKE Restaurants Inc. said three franchisees will open 51 new Carl's Jr. restaurants in Nevada and Idaho over the next decade.
Specialty software developer Simulations Plus Inc. said its fourth quarter net income rose 17 percent despite a drop in revenue from a year ago.
In one of the largest fraud cases of its kind, two executives of a Bellflower staffing company have been charged with defrauding the State Workers' Compensation Insurance Fund out of $18 million.
A raging noise battle between Burbank's national Bob Hope Airport and the general aviation Van Nuys Airport is getting louder. And residents at both ends of the San Fernando Valley are losing sleep over it.
Drug maker Abraxis is expected to pull the plug on its promotional partnership with Sweden's AstraZeneca.
Rubicon Project's Helix program keeps pop-up porn links away from clients' Web sites.
Hustler impresario Larry Flynt has turned his eye to the less-sexy business of online T-shirt sales.
SAG's strike threat has kicked off a heated holiday-season spin battle between the guild and the major studios -- with each side blaming the other for being greedy during the nation's financial crisis.
International Checkout Inc., an e-commerce services company in Santa Monica, was named the most innovative company of the year at the 2008 Stevie Awards for Women in Business.
Public access television producers throughout Los Angeles are up in arms because of a city agency's recommendation to make them all compete for limited air time on just one channel LA36, a quasi-public channel.
Larry Nicola, owner of Nic's Beverly Hills restaurant and lounge, is a self-proclaimed "vodkateur."
Paying to shelter L.A.'s homeless makes fiscal sense, according to Patrick Spillane.