Stories for February 2009
Saturday, February 28
The chief executive of struggling housing developer KB Home Corp., Jeffrey T. Mezger, received more than $9.6 million in compensation in fiscal 2008, the Westwood company said.
Friday, February 27
Image Entertainment Inc. said it agreed to give Nyx Acquisitions Inc. more time to finalize its merger agreement in exchange for Nyx agreeing to pay a higher business interruption fee and making other concessions.
Media mogul Sumner Redstone's family theater chain, National Amusements Inc., said it has reached an agreement in principle to restructure $1.46 billion worth of debt.
Entravision Communications Corp. reported a larger loss in its fourth quarter, largely due to lower ad sales at its Spanish-language TV and radio stations. It also took charges for the diminished value of some broadcast properties.
Los Angeles County Supervisor Mike Antonovich has strongly criticized Related Cos. Chief Executive Stephen Ross for his recent $1 billion purchase of the Miami Dolphins NFL franchise, which took place just prior to Ross' company deferring penalties on its
Public Storage shares rose 6 percent on Friday, a day after the operator of self-storage facilities reported a mixed fourth quarter.
Big 5 Sporting Goods Corp. said its fourth-quarter earnings dropped 42 percent amid a slowdown in consumer spending. While the results beat Wall Street forecasts, the company said the current quarter likely wouldn't meet analysts' expectations.
L.A.-based Latham & Watkins LLP said it is laying off 190 associates nationwide about 12 percent of the firm's associate base and 250 support staff, including paralegals. The layoffs are the deepest cuts made by a large law firm since the economy turn
An unidentified whistleblower filed a lawsuit against Amgen Inc. accusing the biotechnology company of illegal marketing of its blockbuster drugs Enbrel and Aranesp.
L.A. County's seasonally adjusted unemployment rate shot up to 10.5 percent in January the highest rate in 16 years as thousands of trade and retail jobs were lost amid the deepening recession, according to new state figures.
Patricia Mulroy, manager of the Southern Nevada Water Authority, is the general in her region's war to stem a water emergency that's playing out worldwide. Across the planet, people like her are struggling to solve the next global crisis.
DTS Inc. reported a fourth-quarter profit, compared with a year-ago loss, boosted by higher demand for Blu-ray devices in which its digital sound technology is used.
Ticketmaster's chief executive sought to allay antitrust fears over the ticket seller's planned merger with concert promoter Live Nation by revealing that a major venue operator has threatened to cancel its contract if the merger goes through.
Thursday, February 26
The general in charge of transportation needs for the U.S. military said replacing the aging fleet of KC-135 aerial refueling tankers -- a Northrop Grumman Corp. contract that was reversed last year -- was his No. 1 modernization priority.
The real estate market downturn continues to batter Thomas Properties Group Inc., which reported a nearly $6 million loss due to charges related to the declining value of some of its office and mix-used projects.
The collapse of Pasadena mortgage lender IndyMac Bancorp to date has cost the Federal Deposit Insurance Corp. $10.7 billion more than $1 billion higher than previous estimates according to a new government audit.
J2 Global Communications Inc. said it acquired the assets, including the subscriber base, related to the Internet virtual fax technology of CallWave Inc., a San Francisco provider of Internet and mobile-based communications services.
Tarrant Apparel Group, a Los Angeles company that designs and makes private label casual apparel, said it signed a merger agreement with a company formed by two of its founders. The cash deal is valued at $15.2 million.
Superior Industries International Inc. reported a narrower-than-expected loss in its fourth quarter as the automotive parts supplier closed plants and cut jobs in response to the slower auto market.
Across Southern California, small surf shops as well as action sports giants such as Quiksilver Inc. are trying to stay afloat as the economic crisis that started on Wall Street makes its way to the beach.
Wednesday, February 25
Jeffrey Katzenberg, chief executive of DreamWorks Animation SKG Inc. and chairman of the Motion Picture & Television Fund's fund-raising board, says the fund's 114-resident nursing home needs to close in order to preserve other programs helping Hollywood'
True Religion Apparel Inc. shares fell 20 percent Thursday, a day after the premium denim maker reported 43 percent higher fourth quarter profit, but forecast a weaker 2009 than Wall Street expected.
Cogent Systems reported a 49 percent jump in fourth-quarter earnings, helped by increased demand from its law enforcement and government agency customers. Despite the growth, the results came in below analysts' expectations.
Guidance Software Inc. shares gained 10 percent Wednesday, a day after the company reporting better-than-expected fourth quarter results. The quarter was helped by higher sales of its digital investigation software.
Closeout sales are reaching their final days at Circuit City locations and the Macy's store in the 7+Fig shopping center in downtown Los Angeles.
News Corp. insiders say Rupert Murdoch's love of print media is so fervent that he's been talking about a play for the beleagued Los Angeles Times,
DineEquity Inc., which has been cutting costs to pay down debt since acquiring the Applebee's restaurant chain, reported better-than-expected fourth quarter results.
Macerich Co. said it would take a $5 million charge in its first quarter to cover a 5 percent workforce reduction that it expects to complete by the end of March.
Ryland Group Inc. said R. Chad Dreier will retire as chief executive on May 29 after 15 years with the company. He will continue as board chairman. President Larry Nicholson will succeed him as CEO.
Facing a sharp decline in the shooting of big-budget productions in Los Angeles, city officials are considering hiring a "film czar" to promote their interests with the multibillion-dollar entertainment industry.
Tuesday, February 24
Ticketmaster Entertainment Inc. agreed to put a wall between it and its ticket reseller TicketsNow after thousands of complaints earlier this month that Bruce Springsteen fans were improperly redirected to the reseller.
Image Entertainment Inc. said its shareholders at a special meeting approved the company's acquisition by San Francisco investment group Nyx Acquisitions Inc.
Skeptical U.S. lawmakers questioned claims by the heads of Live Nation Inc. and Ticketmaster Entertainment Inc. that the proposed merger of the two largest companies in live music won't hurt competition.
The Los Angeles City Council has extended for 45 days a temporary moratorium on new billboards, building supergraphics and digital billboards in order to give the city more time to update the city's sign ordinance.
The Senate has confirmed Rep. Hilda Solis (D-Calif.) as labor secretary, more than two months after she was nominated for the post by President Obama.
DreamWorks Animation SKG Inc. shares fell 11 percent Wednesday, a day after the company said its fourth-quarter net income fell 45 percent as the home video version of "Kung Fu Panda" failed to perform as well as "Shrek the Third" did a year ago.
Activist shareholder Carl Icahn has again raised his stake in Lions Gate Entertainment Corp., and may attempt to add or oust directors from the board of the Santa Monica studio, according to regulatory filings.
An Assemblyman from San Francisco argues that it's time to tax and regulate the state's biggest cash crop in the same manner as alcohol. Opponents say it would create new costs for society.
Herbalife Ltd. shares fell more than 20 percent Wednesday, a day after the nutritional and weight-loss supplements maker said its fourth quarter net income fell due to higher expenses and lower sales of its nutritional and weight-loss supplements.
Monday, February 23
Some local veterans left or were shown the door as banks overhauled their management teams.
Waterfront businesses in Marina del Rey are struggling to stay afloat as crowds have dried up.
Could a Westlake Village startup spell the end of snail mail?
The tow-truck company owned by Torrance Mayor Frank Scotto was named in a lawsuit brought by a Rolling Hills Estates man who claims he was assaulted by a driver from the firm.
The Business Journal looks at L.A.'s new banking executives, such as V. Charles Jackson, who now are guiding their institutions in this difficult period.
Almost a dozen local family-owned trucking companies have joined forces to create a group that will monitor efforts to clean up truck emissions at the ports of Los Angeles and Long Beach.
Carl Terzian Associates has started its very own social networking site.
Arthur E. DeJong has been named partner at Kling & Pathak, a Cerritos-certified public accounting firm. DeJong previously served as senior manager at the firm.
Long Beach port officials approved plans to offer cargo processing discounts and other incentives to keep business that might otherwise go to other West Coast ports.
The Business Journal looks at L.A.'s new banking executives, such as David Malone, who now are guiding their institutions in this difficult period.
The Edge Retail Center, a fully leased development within an El Segundo office park, has sold, showing that well-positioned properties can move even in the current economic climate.
The Business Journal looks at L.A.'s new banking executives, such as James Daley, who now are guiding their institutions in this difficult period.
Employment is soaring at defense contractor AeroVironment thanks to deals for its unmanned aircraft.
Earl Scheib Inc. agreed to be acquired by San Diego private equity firm Kelly Capital LLC in a deal valued at $8 million.
Nicknamed the Academy Awards of aviation, the annual Living Legends of Aviation ceremony honors aviation entrepreneurs like Richard Branson; astronauts such as Neil Armstrong; and celebrities who have a passion for flying, including Tom Cruise and John Tr
Apple iPhone or iPod Touch owners are best known for using their trendy electronic gadgets to track appointments, watch the latest "American Idol" episode or social network via Twitter.
On a quiet day at the Marina del Rey fuel dock, a gaggle of pelicans takes its rest, bobbing on the rickety floating platform. But the calm is deceptive.
The Business Journal looks at L.A.'s new banking executives, such as Charles Fenton, who now are guiding their institutions in this difficult period.
The Business Journal looks at L.A.'s new banking executives, such as D. Tad Lowrey, who now are guiding their institutions in this difficult period.
The Business Journal looks at L.A.'s new banking executives, such as Lisa Stevens, who now are guiding their institutions in this difficult period.
Pasadena officials are hopeful a new convention center will bring more business to the city.
The Business Journal looks at L.A.'s new banking executives, such as John Sotoodeh, who now are guiding their institutions in this difficult period.
Kythera Biopharmaceuticals will continue with the development of its fat-deposit reduction drug after a $10 million investment from a group of venture capital firms.
The Business Journal looks at L.A.'s new banking executives who now are guiding their institutions in this difficult period.
Has Los Angeles lost its taste for Pinkberry-style frozen yogurt?
Northrop Grumman Corp. announced a trio of defense contracts whose total value exceeds $620 million.
A new L.A. forecast sees health care and film production as industries that should add jobs this year.
A Raytheon-hosted event brings in a Nascar driver and TV show host to push science and math education.
The Business Journal looks at L.A.'s new banking executives, such as Joseph Otting, who now are guiding their institutions in this difficult period.
The recession might be the impetus for Los Angeles to turn some services over to businesses, writes Adam B. Summers.
The ports of Los Angeles and Long Beach put the brakes on trucks not in compliance with their vehicle replacement programs.
The Business Journal looks at L.A.'s new banking executives, such as R. Scott Racusin, who now are guiding their institutions in this difficult period.
The Business Journal looks at L.A.'s new banking executives, such as Wayne Kent A. Bradshaw, who now are guiding their institutions in this difficult period.
With the recession making traditional venture capital scarce, new firms often look to angel investors. But funds from these investors are also getting hard to attract.
The Screen Actors Guild national board voted by a 73 percent majority to reject the majors' most recent take-it-or-leave-it offer.
The Business Journal looks at L.A.'s new banking executives such as William Im, who now are guiding their institutions in this difficult period.
Trying to meet air quality goals can sometimes prove to be a s-l-o-w process.
The Business Journal looks at L.A.'s new banking executives such as Barbara J. Desoer, who now are guiding their institutions in this difficult period.
Charles Crumpley thinks the green crowd will be shocked at the cost of transporting clean energy to Los Angeles.
The Business Journal looks at L.A.'s new banking executives, such as Rod Banks, who now are guiding their institutions in this difficult period.
Bidz.com reported its fourth quarter net income fell by nearly two thirds on sharply lower sales, but the online jewelry retailer still met Wall Street profit expectations.
DV & A; doesn't expect the drive to digital distribution will soon crimp its discount DVD business.
The Business Journal looks at L.A.'s new banking executives, such as Pablo Sanchez, who now are guiding their institutions in this difficult period.
Ducommun Inc. reported a quarterly loss in part due to an $8 million goodwill impairment charge. Though revenues beat Wall Street estimates, the defense contractor's shares dropped 14 percent on its worse-than-expected earnings.
Slow consumer spending will extend the recession into 2010, according to P. Jacob Yadegar.
Dine Equity Inc., which owns the IHOP and Applebee's Neighborhood Bar & Grill restaurants, said it hired former Dial Corp. executive John F. Tierney as chief financial officer.
Some owners are closing their gas stations rather than pay to upgrade their nozzles in accordance with state air quality laws.
Scott Painter, chief executive of car-shopping site Zag.com, indulges his love for automobiles.
Saturday, February 21
Moving to protect the region's job base and keep companies from fleeing to other states, the Los Angeles County Economic Development Corp. will send postcards to 200,000 local businesses offering the services of an economic ombudsman.
Friday, February 20
Anworth Mortgage Asset Corp. said it moved from a loss to profit in its fourth quarter, prompting investors to bump up shares on an otherwise sour day on Wall Street.
The Los Angeles Business Journal's index of the 200 largest local public companies closed down for the week ended Feb. 20 as investors continued to be fearful about the economic outlook.
It's Oscar time again, but it's possible that fewer people than ever before will tune in to the Academy Awards broadcast on Sunday.
After years of effort, Gov. Arnold Schwarzenegger finally got his wish in the new state budget as the Legislature approved tax credits for film and television productions as part of an economic stimulus provision.
VCA Antech Inc. said acquisitions boosted its fourth quarter net income. The veterinary services provider also expects to meet Wall Street's expectations for the current year.
Thursday, February 19
United Online Inc. reported a loss in its fourth quarter, with the online services provider saying its recently acquired FTD floral business was hit by what the company called a "weakening consumer spending environment."
Reliance Steel & Aluminum Co. shares jumped 21 percent Thursday after reporting a big drop in fourth quarter profit that still beat analyst estimates.
At a moment when the nation is engulfed in an economic crisis, and showbiz is enduring layoffs and cutbacks, the theme for this year's private Oscar bashes is shaping up to be: Throw a party, have fun, but don't do too much.
An 8 percent increase in subscriber revenue enabled j2 Global Communications Inc. to report fourth-quarter earnings that were above analysts' expectations.
Irvine-based homebuilder John Laing Homes has filed for Chapter 11 bankruptcy, citing turmoil in the housing market.
Why is California, the world's eighth largest economy and a national engine of growth and revenue, so often in the throes of fiscal disaster, even in flush times?
The ports of Los Angeles and Long Beach announced separately plans to offer cargo processing discounts and other incentives to help fight the effects of the shipping downturn.
The California Legislature voted early Thursday to approve a massive budget package of tax increases, spending cuts and borrowing to close a $40 billion deficit after granting major concessions to one holdout Republican senator.
Jakks Pacific Inc. said it had been chosen as a principal North American toy licensee for the popular Japanese Hello Kitty brand of girls merchandise and accessories.
Wednesday, February 18
California Senate Republicans ousted their leader early Wednesday as other lawmakers continued searching for one more GOP vote in the upper house to break the state's budget deadlock.
Amgen Inc. said the U.S. Food and Drug Administration has accepted its application for the bone-loss drug denosumab, which Wall Street believes has the potential to become another billion-dollar blockbuster product for the company.
Jakks Pacific Inc. reported lower fourth quarter results and gave guidance for the coming year that was below Wall Street expectations. The company also announced that Chief Operating Officer Stephen Berman has been named co-chief executive officer.
Walt Disney Co. is reorganizing its U.S. theme park operation and cutting some jobs to streamline decision-making and eliminate redundancies.
The Port of Los Angeles fared better than its Long Beach rival when it came to moving cargo shipments in January, but business is still down from last year, according to a new report.
A Los Angeles start-up called Zoodango is launching a local service today for finding restaurants, bars and entertainment venues on digital maps. Its claim to fame is founder James Sun, who came in second on the sixth season of "The Apprentice."
Earl Scheib Inc. said it entered into a definitive merger agreement that allows Kelly Capital LLC to acquire the chain of automotive paint and collision repair shops in a deal valued at $8 million.
CB Richard Ellis Group Inc. has named Bob Sulentic its chief financial officer. The real estate services company said it also has created a new chief investment officer position.
Skechers USA Inc. said it recorded a fourth-quarter loss because a poor retail environment forced it to take large markdowns in order to sell its line of sneakers and casual shoes.
The L.A. economy will continue to endure "intense pain" for the rest of 2009, according to the annual economic forecast from the Los Angeles County Economic Development Corp. The forecast shows that recovery will begin in 2010.
Tuesday, February 17
Beverly Hills, Santa Monica and Newport Beach, which are usually shielded from economic downturns, are seeing decreases in sales tax revenues, along with two-thirds of cities in Southern California.
U.S. Auto Parts Network Inc. said it had appointed Theodore R. Sanders, Jr. as chief financial officer, effective Monday.
CKE Restaurants Inc. said it signed a deal with a franchisee to open 72 Carl's Jr. restaurants in Dallas and Houston over the next nine years.
MannKind Corp. reported a larger fourth quarter loss, largely due to higher expenses as the Valencia biotech prepares to submit its first product for U.S. regulatory approval.
In the race to train America's "green-collar" work force, a group composed mostly of former Los Angeles gang members on parole is an early participant.
California is on the verge of starting to lay off some 20,000 government workers because of the budget stalemate. Senate President Pro Tem Darrell Steinberg vowed that he won't let senators leave the Capitol building if the budget deadlock is not broken T
Monday, February 16
Concert producer Goldenvoice's layaway plan helps cash-strapped music lovers buy tickets.
A children's TV channel jointly owned by Walt Disney Co. and German broadcaster RTL is buying a German online community site for mothers called Mamily for an undisclosed sum.
California legislators tried and failed for a second day Sunday to close a $40 billion hole in the state's budget, still one Republican vote short of approving a package that contains $14.3 billion in tax increases.
Richard Steinke and family traded the Rockies for the Pacific Ocean when he became executive director at the Port of Long Beach.
The Coffee Bean & Tea Leaf chain hopes to put the heat on its rivals by adding a breakfast menu.
At an age when many would be thinking of hanging up their blueprints in favor of a beach umbrella, Jim Thomas is pursuing a vision. His passion: pouring $800 million into an ambitious studio and office complex atop the Metro Red Line subway station near U
A dent in discretionary spending may have spurred concert promoter Live Nation and ticket vendor Ticketmaster to merge.
Poor service and a subpar steak sink a trip to Nick & Stef's.
For Elizabeth Moule and Stefanos Polyzoides, transit-oriented development is more than just a line of work in their architecture practice: It's a mindset and philosophy.
A downturn in Hollywood production has hurt the SAG Foundation's ability to aid struggling actors.
Fran Inman describes her hometown of Fullerton in Orange County as being straight out of an "Ozzie and Harriet" episode. But she recalls her childhood as unconventional.
Ticketmaster Entertainment Inc. shareholders have filed a class action lawsuit claiming the Hollywood company sold itself too cheaply to Live Nation Inc.
Dave Butler has been promoted to president of West Hollywood-headquartered Ticketmaster North America.
Ru-Net II, a Russian digital investment company, has bought the online music and film distribution platform Digital Access from a partnership that includes Warner Music Group Corp. and Sony Music Entertainment.
Christian Audigier Inc., the Culver City apparel company known for decorating his expensive clothing with distinctive graphics, is facing an injunction against items in its Ed Hardy line, named for a tattoo artist.
OSI Systems is among the local businesses expected to benefit from the federal government's stimulus package.
If you're looking for a history lesson in transportation reinventing itself, look no further than the train station at Del Mar Boulevard and Arroyo Parkway.
Being a lawyer and sitting on the Los Angeles Board of Harbor Commissioners, Kaylynn Kim sometimes must deal with difficult situations.
The results are in from the Feb. 8 auction of 79 condos at the Rowan Lofts building in downtown Los Angeles: 63 units were sold for a total of $21.8 million.
An export boom will prove a boon to manufacturing and America overall, writes Daniel J.B. Mitchell.
Today's tough loan environment has its good side, according to Ted Lux.
If soccer star David Beckham leaves the Los Angeles Galaxy for AC Milan prior to the end of his five-year contract, one big loser could be another Los Angeles company: Herbalife Ltd.
The Business Journal selects the best transit-oriented projects in Los Angeles County, and salutes the developers, architects and advocates who push for transportation-centered developments.
Hollywood Boulevard and Vine Street is an iconic intersection that fell into disrepair decades ago, yet has remained a pop culture symbol as the destination for Hollywood dreamers.
L.A. City Attorney Rocky Delgadillo filed criminal charges against the owners and executives of four car washes in the Hollywood area, alleging multiple violations of labor laws.
The troubled economy is likely to create a boom in white-collar law: As companies file bankruptcy plans and break contracts, suits will fly.
Walt Disney Co. has signed a multi-year licensing agreement with Denmark's privately held Lego Group, which give the Denmark toymaker rights to produce products based on popular Disney Pixar films such as "Toy Story" and "Cars."
Barbie turns 50 this year but the classic doll was still turning heads at New York's semi-annual Fashion Week as models styled as Mattel Inc's fashion icon took to the catwalk in designer outfits.
An advocacy group has sued the DMV, asking for a written policy that says medical marijuana should be treated the same as prescription drugs. The suit contends that the DMV has a pattern of investigating and suspending the driver's licenses of people who
S. Gail Goldberg describes herself as a child of the suburbs, growing up in San Bernardino. But most people in Southern California who have crossed paths with her professionally know Goldberg as an urbanist with a keen interest in transportation issues.
A new study says business improvement districts experience less crime as well as improved commerce.
DJ Rick Dees has cued up syndication and development deals with ABC Radio Networks.
When considering prospective transit-oriented developments, the team at Urban Partners LLC likes to see a BBI vocal shorthand for Big Bold Idea.
The intersection of Lankershim Boulevard and Weddington Street was once dotted with small body shops that took dents out of cars.
Laugh Factory comedy club owner Jamie Masada hopes the laughter spreads at his new Long Beach venue.
It has taken the better part of a decade to complete the Solair Wilshire mixed-use tower atop a Metro Purple Line subway stop on Wilshire Boulevard. But it's been worth the wait.
GameFly Inc., a Culver City online renter of video games, has acquired Shacknews Ltd., a Dallas company that runs video game news site ShackNews.com and gaming digital download site FileShack.com.
Charles Crumpley provides a little context for today's "worst economy" since the Great Depression.
Critics cite Mark Ridley-Thomas' pro-labor past when questioning the new supervisor's stance on business.
B. Riley & Co's new advisory service aims to turn small institutional investors into corporate-governance activists.
Saturday, February 14
The federal stimulus plan will shower California with tens of billions of dollars in tax breaks and spending. The proposed new state budget would cancel some of that out.
Friday, February 13
The Los Angeles Business Journal's index of the 200 largest local public companies closed down for the week ended Feb. 13 as investors remained depressed about prospects for economy despite progress in Congress on passing an stimulus package.
From the corner diner to elegant Westside eateries, restaurants in Southern California are shrinking portions, slashing wine prices, cutting employee hours and reducing staff. Some chain restaurants and fast-food purveyors are shutting unprofitable branch
From the corner diner to elegant Westside eateries, restaurants in Southern California are shrinking portions, slashing wine prices, cutting employee hours and reducing staff. Some chain restaurants and fast-food purveyors are shutting unprofitable branch
"This is war!" declares a powerful Los Angeles radio station. That's just some of the pressure mounting as lawmakers brace for a tense vote scheduled Saturday on a bitterly contested proposal to ease the state's $40 billion budget shortfall.
Congress approved a $787 billion stimulus package that aims to spur millions of jobs through massive new investments in energy, transportation, education and health-care projects, while reviving social safety-net programs that have been shrinking for near
American Apparel Inc. said its chairman and chief executive, Dov Charney, had loaned the apparel maker and retailer $4 million in exchange for a promissory note.
General Finance Corp. reported a loss in its second quarte,r in part due to slower sales and leasing of its modular buildings and storage units in the Asia-Pacific region.
Several Western states are launching aggressive efforts to poach jobs, talent and industry from California, sensing an opportunity to capitalize on the Golden State's current political and financial woes.
Live Nation Inc., which plans to merge with Ticketmaster Entertainment Inc., said its fourth-quarter adjusted operating income is expected to exceed analysts' estimates.
Thursday, February 12
During tough times for Internet advertisers, ValueClick Inc. reported a fourth quarter loss, though its revenue and adjusted earnings exceeded Wall Street expectations.
Molina Healthcare Inc. said its fourth quarter net income fell due to higher medical costs, but the managed care provider's performance met Wall Street estimates.
Amgen Inc. and partner Takeda Pharmaceutical Co. said they plan to resume a late-stage clinical trial for their experimental lung cancer drug, but on the recommendation of an independent monitor only a smaller patient group will be studied.
North American Scientific Inc. said it agreed to sell its prostate brachytherapy product line to Best Theratronics Ltd. for $5 million so that it can better concentrate on its similar therapy for breast cancer.
Sirius XM Radio, the satellite radio giant that is on the brink of bankruptcy, is in preliminary talks with Liberty Media, the conglomerate controlled by John C. Malone, according to people briefed on the negotiations.
Cargo container shipments through the Port of Long Beach dropped 23 percent in January compared to last year, reducing port volume not seen in five years, according to new port statistics.
Live Nation Inc.'s largest shareholder, Shapiro Capital Management Co., opposes the proposed merger with Ticketmaster Entertainment Inc., saying the concert promoter is better off on its own.
After earlier announcing earlier the day that its acquisition by a San Francisco investment group was back on track, Image Entertainment Inc. said it turned a profit in its third quarter.
As a deadline looms for the Grand Avenue project to begin construction, the developer of the $3-billion effort is seeking revisions to its agreement with the city and county about scheduling -- though it's unclear what those changes might be.
The re-opening of Santa Monica Place mall has been delayed nearly a year to ensure one of the mall's anchor tenants will be open for business.
Wednesday, February 11
Macerich Co. said higher rents on new leases at its shopping malls helped it achieve a 58 percent increase in fourth quarter profits and 39 percent growth in funds from operations, the latter metric better than Wall Street expectations.
CB Richard Ellis Group Inc. said its fourth-quarter net income sank 95 percent on lackluster sales and leasing activity. Earnings were still better than Wall Street expectations and shares jumped more than 11 percent in after-market trading.
A national medical society is investigating whether a Beverly Hills fertility doctor followed its guidelines when he implanted six embryos into a Los Angeles woman who gave birth to octuplets last month.
The California Department of Insurance said Wednesday that Anthem Blue Cross agreed to pay a $1 million fine and offer new coverage to 2,330 people it dropped after they submitted bills for expensive medical care.
DaVita Inc. said its profit rose 15 percent in the fourth quarter as treatment volumes grew at its chain of kidney dialysis centers. The results surpassed Wall Street expectations.
Southern California Edison said it signed contracts with Google-backed start-up BrightSource Energy for the supply of 1,300 megawatts of clean solar thermal power. The companies claim the agreement is the world's largest solar deal.
U.S. antitrust enforcers have opened an investigation of the proposed merger of Live Nation Inc. and Ticketmaster Entertainment Inc., the largest companies in live music.
Activision Blizzard Inc. reported a fourth quarter loss due to charges, but its adjusted earnings exceeded Wall Street's expectations, boosted by sales of the newest "Guitar Hero" and "Call of Duty" video games.
Tuesday, February 10
Aecom Technology Corp reported a 39 percent increased in fiscal first quarter net income, helped by strong growth across its businesses.
Live Nation Inc. announced details of its planned all-stock acquisition of Ticketmaster Entertainment Inc., a deal valued at $2.5 billion that would merge two giants in the ticketing and concert promotion business but likely will face tough anti-trust scr
With the Screen Actor Guild's feature-primetime talks expected to re-launch next week, allies of president Alan Rosenberg have already declared that any deal that emerges won't be acceptable.
Zenith National Insurance Corp. said it will cut 100 positions in response to the economic downturn, which has hurt its main workers' compensation business as companies lay off workers.
DirecTV Group Inc. said its fourth-quarter net income fell 5 percent in part due to higher costs in acquiring customers, causing it to slightly miss Wall Street expectations.
Sometimes, in a CEO's life, you really do get a second chance. Just ask Walt Disney Chief Executive Bob Iger, whose company has snagged distribution rights to Steven Spielberg's DreamWorks Studio films.
As a deadline looms for the Grand Avenue project to begin construction, the developer of the $3 billion effort in downtown L.A. is seeking revisions to its agreement with the county.
Los Angeles City Attorney Rocky Delgadillo filed criminal charges against the owners and executives of carwashes in the Hollywood area, alleging multiple violations of labor laws.
Tenet Healthcare Corp. it signed a definitive agreement to sell USC University Hospital and USC Kenneth Norris Jr. Cancer Hospital to the University of Southern California for $275 million.
HCP Inc. reported fourth-quarter earnings and guidance for the coming year that all missed Wall Street's expectations.
Monday, February 9
Charles Crumpley wonders what self-respecting city would want lively, colorful and joyful messages on supergraphics.
The median home prices in Los Angeles County plunged 35 percent in January versus a year earlier.
To demonstrate the speed of Intel Corp.'s new processing chip, interactive ad agency Razorfish has created a Web site showing graphic designers who race to put together images without having their computer bog down.
Mercury General Corp shares plunged 16 percent Monday after the auto and home insurer reported a fourth quarter net loss, due to a nearly $142 million loss in its investment portfolio and claims from last year's wildfires.
Robert J. Lowe now works alongside his two sons at his real estate development company.
As federal air-cargo security regulations tighten, the government is looking to the private sector to keep cargo flowing without delay. And Los Angeles is leading the way.
Lions Gate will channel its film and TV programming to recently acquired TV Guide Network.
Screen Actors Guild leaders, in the latest twist in the guild's extraordinary drama, have set the stage for resuming contract talks with the majors by more formally topper Doug Allen and booting out the feature-primetime negotiating committee in favor of
L.A. stations struggle to keep listeners dialed in as the audience fragments and ad revenue falls.
Neil Leeds came to Hollywood to pursue an acting career. Last week he achieved his dream. Well, kind of.
Rent-a-Judge makes the timely promise of resolving disputes in one day or less.
The Antelope Valley has so few hospitals that Lancaster Community Hospital Chief Executive Bob Trautman estimates that roughly 35 percent of his area's market heads to the Santa Clarita and San Fernando valleys for care.
California regulators have their sights set on two chemicals commonly used in industry, sparking concerns from manufacturers and other businesses about new burdens to their bottom lines.
Lions Gate Entertainment Corp reported a net loss in its fiscal third quarter due to poor box office performances on some of its films and expenses related to a DVD distribution deal.
Even high-end hotels are offering deals as occupancy rates have tumbled in the down economy.
Walt Disney Studios said it has agreed to a long-term exclusive distribution deal with Steven Spielberg's DreamWorks SKG production company after a similar agreement between DreamWorks and Universal Pictures fell apart.
When residential developer California Landmark Group needed to restructure the debt on a Marina del Rey property, the Westwood company worked out a unusual financing deal.
Despite a portfolio full of shaky loans, Santa Monica's FirstFed remains afloat.
It's a no-brainer why DreamWorks wants to ally with Walt Disney. But for Disney, this is an atypical deal that underscores a lot of fundamental changes at the House of Mouse of late.
Chrysalis Enterprises lines up work to help the jobless restart their careers and lives.
Brentwood real estate investor Ezri Namvar's preliminary bankruptcy filing shows 40 creditors are seeking nearly $420 million.
Recent cutbacks at local newspapers have businesses reconsidering their advertising options.
Developers are razing L.A. history as residents sit quietly, writes Robert B. Canaan.
L.A. stations struggle to keep listeners dialed in as the audience fragments and ad revenue falls.
Sharon Spira-Cushnir has been named chief executive of Executive Service Corps of Southern California, a Westlake-based non-profit organization devoted to strengthening non-profits through coaching and consulting.
Financial advisers ignored due diligence in their dealings with Bernard Madoff, according to Ryan K. Bakhtiari.
Lawyer says councilman seeks to score political points in criticizing supergraphics.
ShopitLA has seen an upswing in its eBay auction business liquidating busted companies' goods.
The local tech community is mourning two men who were killed in a Santa Monica plane crash.
Advanced Real Estate Services has bought the Courtyards apartment complex in Norwalk for $22.9 million from a subsidiary of Beverly Hills real estate and investment services firm Kennedy Wilson.
Ari L. Bessendorf says Los Angeles should expect a battle over power lines from the Tehachapi wind generation project.
New proposed water use restrictions from Los Angeles Mayor Antonio Villaraigosa could slam local building owners, gardeners and plant nursery operators in a few weeks.
James Sheets has stormed the beach: The former Marine sergeant is now in the hospitality industry as an executive at a hotel overlooking the Pacific.
POM Wonderful looks to put the legal squeeze on some big-time rivals' pomegranate products.
Capstone Turbine Corp. reported a third quarter loss, in part due to in manufacturing expenses and costs associated with the launch of new products.
Live Nation Inc. and Ticketmaster Entertainment Inc. were said to be in merger talks.
Taylor's Marketing & Management helps agencies such as the L.A. harbor find contractors and advises firms how to get work.
Motorcar Parts of America Inc. reported a net loss in its fiscal third quarter -- despite a 27 percent increase in sales -- partly due to goodwill impairment and other charges.
Alexandria Real Estate Equities reported mixed results for the quarter, with adjusted earnings in line with Wall Street estimates but revenue growth was better than expected.
Saturday, February 7
Pacific Park, the amusement park on the Santa Monica Pier, may lose visitors and revenue when Cirque du Soleil sets up a tent in its main parking lot this fall, blocking more than 700 spaces.
Friday, February 6
Regulators seized Alliance Bancshares California late Friday and transferred the deposits of the beleaguered Culver City business bank to a San Diego institution.
Pacific Office Properties Trust Inc. said it filed plans with the Securities and Exchange Commission to sell up to $350 million in shares of Class B common stock to raise money for new investments in depressed commercial property markets.
Hollywood isn't recession-proof, with layoffs and belt-tightening sweeping the biz. But as easy as it is to get pessimistic about the state of the economy, there is some growth to be gained in Hollywood.
DreamWorks SKG, Steven Spielberg's boutique production company, is in advanced talks on a deal to distribute its movies through Disney, according to reports.
The Los Angeles Business Journal's index of the 200 largest local public companies closed up for the week ended Feb. 6 as investors saw January's bleak jobs report as likely to convince Congress to quickly pass a stimulus package.
Zenith National Insurance Corp. said Leon Panetta resigned from its board to become director of the U.S. Central Intelligence Agency.
Ixia said it swung from a profit to a loss in its fourth quarter due to investment losses and other charges.
The Automobile Club of Southern California, the state's fifth-largest car insurer, is expected to announce a 5.4 percent rate cut that will save 1 million customers an average of $100 per vehicle.
Managing costs enabled frozen food manufacturer Overhill Farms Inc. to report sharply higher profits in its fiscal first quarter, despite slightly lower net revenues.
Thursday, February 5
Los Angeles Superior Court judge has denied Screen Actors Guild President Alan Rosenberg's request for a court order to overturn the firing of exec director Doug Allen and the abolition of SAG's negotiating committee.
Plagued by aging facilities and competition from elite private schools, the school board in Los Angeles' most exclusive neighborhood wants to license Beverly Hills High School on apparel, cosmetics and accessories.
Small investors accused a prominent Encino real estate brokerage and a former Orange County businessman in a lawsuit Wednesday of taking part in an elaborate scam that fleeced individual investors out of millions of dollars in recent years.
Warner Bros. Home Entertainment Group said it has acquired Snowblind Studios, an independent game development studio specializing in action and fantasy-based games.
The husband of U.S. Rep. Hilda Solis, President Obama's choice to head the Labor Department, paid about $6,400 to settle tax liens that had been outstanding for as long as 16 years against his business.
International Rectifier Corp., which reported a big second quarter loss Thursday, said it plans to close its El Segundo semiconductor plant, consolidate operations at its Temecula facility and eliminate 850 jobs.
Selling its stake in Front Line Management to Ticketmaster Entertainment enabled Warner Music Group Corp to report a profit rather than a loss in its fiscal first quarter, the recording company said.
International Rectifier Corp. lost its battle with ousted chief executive Alexander Lidow when a Los Angeles federal judge dismissed its lawsuit over alleged theft of trade secrets.
Wednesday, February 4
Declaring its own "Boston Tea Party," the Los Angeles County Board of Supervisors has begun plotting a tax revolt against the state of California by withholding potentially hundreds of millions of dollars in state tax payments.
THQ Inc. said it plans to cut nearly a quarter of its workforce after reporting a loss in its third quarter due to lower sales and a large goodwill impairment charge.
Anworth Mortgage Asset Corp., which was hurt by the collapse of the regional housing market, said it plans a public offering of 8 million shares of its common stock, with the $46 million in net proceeds to be used to buy agency mortgage-backed securities.
Hilton Hotels Corp., which last month announced it was leaving Beverly Hills, said it had chosen Fairfax County, Va., as its new corporate home.
99 Cents Only Stores said its fiscal third-quarter net income rose 31 percent as more cost-conscious shoppers spent money at its discount stores. The results were a penny per share below Wall Street estimates.
The motion picture industry's record-setting month at the box office may have cost it $246 million in tax breaks, as the Senate stripped a provision from the economic stimulus bill that critics derided as an unnecessary Hollywood bailout.
With more than 10 percent of Long Beach out of work, it was no surprise that hundreds of people showed up to apply for 22 positions Tuesday at a soon-to-open Society of St. Vincent de Paul thrift store.
Ticketmaster Entertainment Inc. and Live Nation Inc. are close to a merger in a deal that would consolidate two of the most powerful forces in the music industry under one roof, people familiar with the matter told the Wall Street Journal.
Shares of Ticketmaster Entertainment and Live Nation jumped Wednesday following reports that the companies might announce a merger as soon as this week, creating the world's biggest concert promoter and a major force in artist management.
Broadway Financial Corp. said Wayne-Kent A. Bradshaw has been named president and chief operating officer.
Tuesday, February 3
The Walt Disney Co. said its fiscal first quarter earnings fell 32 percent on lower revenue from its home video business, TV networks and theme parks.
Screen Actors Guild President Alan Rosenberg struck out Tuesday in his quixotic effort to reinstate Doug Allen as the guild's chief negotiator due to procedural errors with his legal filing, but his attorneys promised they'll refile shortly and try again.
In a major step towards its renewable energy goals, the Los Angeles Department of Water & Power said it signed an agreement with Mexico's federal power utility to immediately buy up to 100 megawatts of geothermal energy.
Northrop Grumman Corp. reported a fourth-quarter loss as it took a $3.06 billion charge to write down the value of past acquisitions in its shipbuilding and space businesses.
Health Net Inc. said its fourth-quarter earnings fell 70 percent on higher costs and restructuring charges, but the results still were better than analysts expected.
The disgraced junk bond king has raised millions for cancer research since his release from prison, but a presidential pardon eludes him.
99 Cents Only Stores said it will reconsider its plans to leave the Texas market as sales in the state have significantly improved in the last month, rejecting Chairman David Gold's offer to buy the operations.
Monday, February 2
L.A. County's Business Technology Center puts out the welcome mat for overseas companies.
Frederick's of Hollywood Group Inc. said board member Thomas Lynch has been appointed chief executive.
As Congress weighs the possibility of an economic stimulus plan that could pump more than $800 billion into the U.S. economy, one firm is already looking at the fraud and abuses that could accompany it.
Lisa Knapp always wanted to work in TV, but at first she'd hoped to be in front of the camera.
Some local landlords, fearing more empty storefronts, are hiring consultants to help their tenants stay in business.
Lion Real Estate Group LLC has cashed in on the hottest trend in the local commercial real estate market.
FirstFed Financial Corp. reported a larger-than-expected loss for the second straight quarter, hurt by declining home prices and a more than 10-fold increase in its provision for bad loans.
An anticipated crackdown by Los Angeles on outdoor signs may catch some businesses flat.
L.A. Area Chamber of Commerce Chairwoman Fran Inman believes business needs to take a lead role in helping Los Angeles through recession.
Sport Chalet Inc said it was evaluating strategic alternatives, including raising additional capital, amending or replacing its current credit line, or further cutting costs.
Ryland Group said it had formed a limited liability company with Oaktree Capital Management LLC to acquire and develop distressed residential real estate projects.
Howard Marks draws on decades of experience to pen guidance memos at investment firm Oaktree Capital.
Many local banks are sitting on government rescue funds rather than pumping up their lending.
Plans for a hotel, retail and residential project in downtown L.A.'s South Park district are facing significant challenges.
The recession has hit the sports world hard. Even the Super Bowl saw reduced demand for tickets. And cycling has been no exception, with one of the leading American races in Georgia canceled this year.
An anticipated crackdown by Los Angeles on outdoor signs may catch some businesses flat.
At a time when workers nationwide stand to make big gains under the Obama administration, the newly formed National Union of Healthcare Workers is seeking alliances with rivals of the powerful SEIU.
A love for cars drives a trio's business venture selling high-end accessories for luxury and exotic vehicles.
Charles Crumpley fears state lawmakers could put the brakes on L.A.'s mass transit funding.
L.A. County's jobless rate shot up to 9.9 percent in December from 8.9 percent the month before, reaching its highest level in 15 years.
Itacho in West Hollywood has more on the menu than just sushi.
In bad times, the bankruptcy business is good. That thesis played a role in Ervin Cohen & Jessup LLP's acquisition of Moldo Davidson Fraioli Seror & Sestanovich LLP.
Commercial litigation firm Reeder Lu & Green LLP has opened in Century City. The name partners are Christopher Reeder, Beverly Lu and Gabriel Green
Rocky Rosen spends four to six hours a day looking for clients for his quit-smoking program by approaching smokers on the street.
Toy maker Mattel Inc. said its fourth-quarter profit fell 46 percent, well below Wall Street expectations, as consumers cut spending during the weakest holiday season in decades.
Transamerica Insurance & Investment Group, a downtown L.A.-based unit of Transamerica Life Insurance Co., has named James Martin Flewellen president.
Local card clubs have continued to draw players as traditional and American Indian casinos have struggled.
Developer Wayne Ratkovitch says it's time to filter out bad news and focus on what can be accomplished.
The twin brothers behind Chip and Pepper jeans now are trusting their guts when calling the shots.
The recently concluded Sundance Film Festival wasn't just for A-list celebrities and entertainment execs. L.A. bankers and lawyers, among others, also got to go.
"Girls Gone Wild" founder Joe Francis was taken into custody Monday after he arrived more than five hours late for a Los Angeles court hearing in his tax evasion case.
Oversee's CEO is cutting costs and staff as the company returns to its roots.