Stories for October 2010

Sunday, October 31

DreamWorks Studios Energizes the Magic Machine Anew

OTHER NEWS

After two years in the throes of a financial restructuring, Steven Spielberg and his DreamWorks Studios are back with some typically Spielbergian stuff.

Friday, October 29

MGM Creditors Approve Spyglass Takeover

OTHER NEWS

Metro-Goldwyn-Mayer creditors have overwhelmingly passed Spyglass' proposal to take over leadership of the company.

The Week’s Big Movers

The Business Journal’s index of largest local public companies narrowly closed up for the week as the markets closed out one of their best months of the year.

Management Buyout at Bristol Farms

Supervalu Inc. has sold the Bristol Farms upscale supermarket chain to a management team backed by an investment firm with stakes in several grocery companies.

Better-Than-Expected Quarter at Edison

Edison International's third-quarter earnings jumped 27 percent as revenue rose, particularly at its power-generation unit.

Stamps.com Reports Higher Earnings, Dividend

Shares of Stamps.com jumped after the software company announced higher third-quarter earnings and a special dividend.

MannKind Narrows Loss

MannKind Corp. reported a smaller-than-expected third quarter loss despite slightly higher spending on its inhaled insulin drug candidate Afrezza, which is awaiting U.S. regulatory approval.

AEG Lays Out Plan to Bring Football Back to L.A.

OTHER NEWS

Staples Center owner AEG is working on plans to build a downtown "events center" and bring an NFL team to Los Angeles in deals that could be finalized by year's end, the company's chief executive said.

Thursday, October 28

Lions Gate Sues Carl Icahn Over 'Secret Plot'

OTHER NEWS

Lionsgate is suing Carl Icahn, accusing the billionaire investor of playing a “double game” in which he alternately claimed to support and oppose a potential merger between the studio and Metro-Goldwyn-Mayer.

Metro Approves Plan for Westside Subway

A $4.2-billion project to build a subway between downtown Los Angeles and Westwood took a major step forward when the Metropolitan Transportation Authority voted to approve a preliminary route plan.

Palmdale Board Bans Project Labor Deals

In a victory for nonunion contractors, the Palmdale Water District has become the first government body in Los Angeles County to ban union-friendly project labor agreements.

Skechers' Quarter Disappoints

Shares of footwear maker Skechers U.S.A. missed Wall Street estimates for quarterly earnings and announced problems with canceled orders.

Teledyne Beats Estimates, Raises Outlook

Defense contractor Teledyne Technologies reported better-than-expected earnings and raised its expectations for the year.

MGM Drama Nears Climax

MGM Drama Nears Climax

Wednesday, October 27

3M Closes Offer for Cogent Shares

3M Co. has closed its tender offer to buy shares of Pasadena-based Cogent Inc. for $10.50 per share.

Avery Dennison’s Earnings Miss Expectations

Office supplier maker Avery Dennison reported slightly higher earnings for the third quarter, a result that disappointed investors and sent the company’s stock down 3 percent.

Fox's Ratings Reign Threatened

News Corp.’s Fox network has lost almost 17 percent of its young-adult viewers five weeks into the television season.

Exec From U.S. Bank Tapped to Head OneWest

OneWest Bank, the savings and loan created last year from the assets of failed IndyMac Bancorp, announced that it has hired Joseph Otting as chief executive.

Cathay Surprises on the Upside

Cathay General Bancorp announced third quarter results that easily beat analysts’ expectations and sparked a 6 percent rise in the company’s stock price.

Earnings Jump 360 Percent at CB Richard Ellis

Commercial building brokerage CB Richard Ellis reported a 360 percent increase in earnings, but its stock price declined in the shadow of larger issues in the real estate sector.

Tuesday, October 26

Council Votes on Taxis, Contributions

The Los Angeles City Council took two actions affecting businesses, voting to draft a ballot measure to ban large city contractors from making political contributions. It also decided to maintain the status quo on taxi franchises.

Nara Shares Gain on Profit News

Shares of Nara Bank rose12 percent after the company announced a profitable third quarter.

Shrek Powers DreamWorks Revenues

DreamWorks Animation SKG reported better-than-expected revenue and net income, based on the success of the latest Shrek movie.

New Toys Lift Jakks Earnings

Higher-than-expected quarterly earnings at toy maker Jakks Pacific lifted the company’s stock price 5 percent.

East West Bank Beats Estimates

Shares of East West Bancorp rose nearly 7 percent after the bank reported a 29 percent gain in earnings during the third quarter.

Hutkin joins TWC's growing staff

OTHER NEWS

The hiring spree at the Weinstein Co. continues, with finance vet David Hutkin signing on to head a new L.A.-based division called the Strategic Initiatives, Investments and Banking Group.

Monday, October 25

VICA Builds Success in Sacramento

VICA's monthly lobbying trips to Sacramento yielded some pretty big dividends for the San Fernando Valley.

Amgen Earnings Decline in Third Quarter

Biotech giant Amgen Inc. reported an 11 percent fall in third quarter profit as it business expenses rose and sales of several leading drugs declined.

VC Activity Mixed in Quarter

Venture funding for startups in Los Angeles dipped over the past few months, but an increase in activity over last year could portend a rebound in deal flow.

3M Again Extends Cogent Offer

3M Co. has extended its $943 million tender offer for Cogent Inc. a few more days, after accumulating more than 70 percent of outstanding shares last week.

Not Going Far Enough

OP-ED: L.A. City Council motion to control pensions fails to require sufficient contributions from public workers.

Daymond Rice writes that the L.A. City Council isn’t doing enough to rein in public pensions.

Kadisha Loses Appeal in Trust Lawsuit

Wealthy Angeleno hit with $94 million judgment from 2006 case.

Venture capitalist Neil Kadisha is on the hook for $94 million after an appeals judge rejected his defense in a trust management suit.

Getting Down to Business at the Ballot Box

OP-ED

Los Angeles County Business Federation leaders weigh in on the November ballot.

Getting a Second Opinion on Medical Space in Beverly Hills

OP-ED

John Mirisch rips real estate executives’ support for medical space in Beverly Hills.

Steps in the Right Direction

OP-ED: L.A.’s mayor touts reports showing the city’s efforts to cut costs for businesses are paying off.

Mayor Antonio Villaraigosa cites evidence that L.A. may be shaking its business-unfriendly ways.

Best of Intentions, Worst Results

COMMENT

The Law of Unintended Consequences is, well, the law, writes Charles Crumpley.

Most Admired CEOs - JOHN B. QUINN

Special Report: MOST ADMIRED CEOs

John B. Quinn heads L.A.’s most profitable law firm. And it’s the only firm of its size that exclusively takes business litigation cases.

Tease photo

Most Admired CEOs - Regina Birdsell

Special Report: MOST ADMIRED CEOs

As head of the Center for Nonprofit Management, a management consultant to Los Angeles-area non-profits, Regina Birdsell is known as a bridge builder.

Most Admired CEOs - Jim Thomas

Special Report: MOST ADMIRED CEOs

Jim Thomas’ namesake company owns about $430 million worth of office buildings in California, Pennsylvania, Virginia and Texas.

Tease photo

Most Admired CEOs - Edward Wedbush

Special Report: MOST ADMIRED CEOs

Edward Wedbush overseas a staff of 1,000 as Wedbush Inc. has grown into a leading financial services firm.

Tease photo

Most Admired CEOs - Louis Perry

Special Report: MOST ADMIRED CEOs

Louis Perry, a former actor, takes a hand-on approach to running his security company.

Tease photo

Most Admired CEOs - Do Won “Don” Chang

Special Report: MOST ADMIRED CEOs

Do Won “Don” Chang has turned Forever 21 into one of the fastest-growing apparel retailers in the United States.

Tease photo

Most Admired CEOs - Russell Goldsmith

Special Report: MOST ADMIRED CEOs

With a Harvard pedigree and time spent running several entertainment companies, Russell Goldsmith was tailor made for a job atop City National Bank.

Tease photo

Most Admired CEOs - Bill Allen

Special Report: MOST ADMIRED CEOs

Since he took the lead role at the Los Angeles County Economic Development Corp. five years ago, former entertainment executive Bill Allen has raised the profile of the non-profit.

Tease photo

Most Admired CEOs

Special Report: MOST ADMIRED CEOs

From banking to real estate to security, the Business Journal tips its hat to some of L.A.’s celebrated chief execs.

Missing Ingredient on Seventh Street

Downtown boosters look to add retail to street's dining scene.

Downtown L.A. boosters hope to use a blossoming dining scene to stoke Seventh Street’s retail revival.

Tease photo

‘Valley Girl’ Sees a ‘For Sure’ Thing in Los Angeles

TECHNOLOGY: Web TV host Jesse Draper buys tech community site Lalawag.

The tech world’s “Valley Girl” has moved into the L.A. scene with the purchase of the tech blog Lalawag.

Tease photo

Oklahoma Firm Rolls Into L.A.

REAL ESTATE: Stan Johnson opens area office to focus on single-tenant deals.

The recent opening of a Century City office by brokerage and advisory firm Stan Johnson Co. reflects growing faith in the low-risk, low-reward market of single-tenant lease deals.

Tease photo

Clay Lacy: Air-Born

INTERVIEW: Kansas native Clay Lacy’s childhood passion for planes and flying landed him atop his own charter jet company and led to work doing ‘photo flights’ for Hollywood productions.

Clay Lacy’s boyhood love of aviation took off when a small airport was built on his grandmother’s Kansas farm.

Tease photo

Baby on Board

Teresa Delfin’s desire to be active while pregnant gave birth to an outdoor apparel line for expectant moms.

Teresa Delfin hopes to deliver with her line of outdoor apparel for pregnant women.

Tease photo

A Step Back For Local AIDS Walk?

Organizer says earlier date of rival’s event cut into fundraising.

Organizers of AIDS Walk Los Angeles say a rival’s earlier event undercut their fundraising efforts.

Tease photo

Meet the Most Distressed Bank In Los Angeles

Western Commercial Bank may be L.A.’s most imperiled institution, but managers are trying for a comeback.

Tease photo

Dirty Trucks Crash Port Loophole

Some old tractors not covered by clean air plan.

A Clean Truck Program loophole has kept some of the dirtiest rigs on the road at Long Beach and L.A. ports.

Tease photo

Building Storm

L.A. camps feud over zoning code rewrite.

Controversy is building between homeowners and developers over the city of L.A.’s plan to revise its zoning code.

Tease photo

Factor Buys Into Malibu Colony for $15.3 Million

CHIEF DWELLINGS: Home of Smashbox founder features 46-foot beach frontage.

Listings and sales of executive homes.

Calendar & Events

Calendar

Regional Reports

Regional Report

West Hollywood Firm Receives a New Prescription

ADVERTISING & PR: Executive to make health clients a focus for Weber Shandwick.

Weber Shandwick has a new general manager running its West Hollywood office. Her top priority is to grow the agency’s health care business.

Small Banks Fail to Break Big Rivals’ Chokehold

BANKING & FINANCE: Report says local institutions missed chances to grab customers.

Despite widespread dissatisfaction among customers of large banks, L.A.’s homegrown institutions have failed to capitalize on the opportunity to grab new customers.

Union of Two Hollywood Firms Goes by the Letter

New PMK BNC hopes to tap its celebrity clientele for brand promotions.

Two Hollywood firms seek a boost by combining their celebrity representation and brand promotion services.

News of the Week

News of the Week

A Real Example of the Art of Law

PAGE 3

Boutique law firm Harris & Ruble has found a new use for its stand-alone office building, and it has nothing to do with litigation.

Getting the Word Out

PR industry pitched in $445 million to L.A.’s economy.

A new report is trying to get the word out on the contribution of the public relations industry to the L.A.-area economy.

Bellying Up To the Bar

Ballet-based exercise franchise blossoms with Hollywood site.

A local fitness trainer is raising the bar with his ballet-influenced workout business.

Friday, October 22

Gores Affiliate Acquires Cable Systems

The Gores Group said that an affiliate company has acquired several Charter Communications cable systems, mostly in the Midwestern and Southeastern United States.

The Week’s Big Movers

The Business Journal’s index of largest local public companies closed up for the week as encouraging earnings boosted the overall markets.

Tribune Creditors Win Approval to Sue Zell

OTHER NEWS

A judge has decided that creditors of the Los Angeles Times' bankrupt parent company can sue real estate billionaire Sam Zell, who took Tribune Co. private in 2007. In addition, the company's board replaced its chief executive after a series of embarrassing news stories emboldened critics who said he tolerated a sexist and hostile workplace.

L.A. Jobless Rate Unchanged

L.A.’s economy remained stuck in neutral in September as the unemployment rate was unchanged from August at 12.6 percent.

Icahn Extends Lions Gate Tender Offer

Carl Icahn has extended his tender offer for Lions Gate Entertainment Corp, as the billionaire investor continues to woo investors by attempting to assist the Santa Monica studio in acquiring the troubled Metro-Goldwyn-Mayer Studios Inc.

Thursday, October 21

Icahn Offers to Buy More MGM Debt to Aid Lions Gate

OTHER NEWS

Billionaire investor Carl Icahn is ready to spend more than $400 million to push forward a merger between two of Hollywood's biggest independent movie studios: Lions Gate Entertainment Corp. and Metro-Goldwyn-Mayer.

Tribeca West Entertainment-Office Complex for Sale

OTHER NEWS

One of the highest-profile entertainment office complexes in Los Angeles has been listed for sale. The property, Tribeca West, is expected to go for as much as $75 million

City National Earnings Beats Expectations

City National Corp. reported a third quarter profit that beat Wall Street estimates, as the parent of City National Bank benefited from acquisitions and set aside less money to cover bad loans.

J2 Global Makes Acquisition

J2 Global Communications has acquired Ireland’s largest provider of cloud-based online backup services.

Sports Chalet Secures $65 Million Credit Line

Shares of Sport Chalet jumped 19 percent Thursday after the recreational gear retailer announced a new $65 million credit agreement that will lower its annual interest expense by about $800,000.

Sen. Jenny Oropeza Dies

State Sen. Jenny Oropeza (D-Long Beach) died Wednesday night at Long Beach Memorial Hospital. She was 53.

Reliance Steel Profit Rises

Reliance Steel & Aluminum Co.'s third quarter earnings grew 17 percent as customers of the metals service center operator continue to recover from the economic downturn. Even so, the results and the company's outlook fell short of expectations.

Cogent Dodges Another Merger Barrier

Cogent Inc. said that the Delaware Supreme Court refused a shareholder plaintiff petition to block the company’s acquisition by 3M until an appeal makes its way through the court.

Wednesday, October 20

LAX Concessions Contracts Get Final Approval

OTHER NEWS

The debate over how to improve the woeful dining and retail selections at Los Angeles International Airport came to a relatively civil end Wednesday when the City Council gave its final approval to nine concession contracts spanning four terminals.

American Airlines Expands at LAX

AMR Corp. announced that it is significantly expanding its American Airlines and commuter services at Los Angeles International Airport starting next spring.

West Coast Choppers May Close

Jesse James reportedly is closing his West Coast Choppers custom motorcycle shop, which became a Long Beach landmark by appearing in a popular reality TV show.

L.A. Firm Sells Sex.com for $13 Million

Sex.com is set to be sold for $13 million by Escom LLC, the bankrupt Los Angeles company that owns the domain name, according to a news report.

Tix Set for Stock Exchange Move

Tix Corp. said it was ready to start trading its stock on the Pink Sheet’s new OTCQX market starting Friday after getting approval from the exchange.

Interlink Electronics Names COO

Interlink Electronics Inc. has named John R. Schneider its president and chief operating officer, starting Monday.

Tribune CEO's Future in Limbo

OTHER NEWS

Randy Michaels, Tribune Co.'s embattled chief executive, reportedly has decided to resign his post at the Chicago-based owner of the Los Angeles Times and intends to leave the company before the end of the week.

Tuesday, October 19

Smaller Loss at Stellar Bank

Stellar Business Bank moved from a loss to a profit in the third quarter, aided by lower interest expenses and a rise in interest and loan fee income.

FDA Panel Gives Amgen Hopeful Aranesp News

OTHER NEWS

Amgen Inc.’s anemia treatment Aranesp is safe for use in kidney patients whose disease doesn’t require dialysis, a U.S. panel said Monday.

Higher Oil Prices Primed Oxy’s Quarter

Occidental Petroleum Corp.'s earnings jumped 28 percent in the third quarter because of increased production and higher prices for oil and natural gas.

Little Enthusiasm for Billboard Tax Plan

A proposal for a ballot measure that would create a tax on billboards and other outdoor advertising got an initial rejection by a Los Angeles City Council committee.

William Morris Headquarters for Sale

OTHER NEWS

William Morris Agency's iconic Beverly Hills headquarters -- already in the process of being foreclosed on -- has been put up for sale.

Monday, October 18

Disney Makes Marvel Distribution Deal

Walt Disney Co. reached a deal with Paramount Studios to take over marketing and distribution of the upcoming films, "The Avengers" and "Iron Man 3." The agreement gives Disney more control over the Marvel Entertainment properties it acquired last year.

Deloitte Names Kerrick L.A. Managing Partner

Accounting giant Deloitte announced that Michelle Kerrick has been named office managing partner for the organization’s Los Angeles practice.

Tutor Perini Sells $300M in Debt

Tutor Perini Corp. has sold $300 million in senior notes, proceeds of which may be used for acquisitions, stock repurchases and other corporate purposes.

Soon-Shiong Buys Share of Lakers

The Los Angeles Lakers said that part-owner Earvin “Magic” Johnson has sold his share of the team to Los Angeles billionaire Patrick Soon-Shiong for an undisclosed amount.

Celgene Closes Abraxis Acquisition

Celgene Corp. over the weekend closed its nearly $3 billion acquisition of West Los Angeles biotech Abraxis BioScience Inc.

LTC Buys Assisted Living Properties

LTC Properties Inc. on Monday said it entered into agreements to acquire four assisted living properties in Florida and Mississippi, for purchase price of $26.9 million.

That’s the Way Things Crumble

Attorney walks away from firm to launch her own cookie company.

Attorney takes leave from the firm to launch a cookie-baking business.

Wee-Hour Fine Food

Pacific Dining Car jazzes up its offerings for the all-night crowd.

The Pacific Dining Car isn’t just riding the rails of its reputation, the eatery is changing its menu to lure off-hour diners.

3M Sticks to Its Cogent Price Despite Protests

Battle moves forward over acquisition of Pasadena I.D. company.

Many stockholders are holding out in a battle over 3M’s purchase of Cogent Systems Inc.

Enthusiasm Fades in L.A. Office Market

Special Report: REAL ESTATE QUARTERLY - L.A. COUNTY

To the surprise of many eternally hopeful brokers, the poor office market in Los Angeles found a way this past quarter to get even worse.

Hailing a Business Victory

COMMENT

Business won a rare victory over labor interests last week in City Hall, but Charles Crumpley wonders if the victory will hold up.

SANTA CLARITA: Brokers Exhale as North Valley Bottoms Out

Special Report: REAL ESTATE QUARTERLY

The Santa Clarita Valley is breathing a sigh of relief this quarter. The office market stayed steady despite vacancies created by two large residential real estate companies.

SAN FERNANDO VALLEY: Suburbs Show Unexpected Resilience

Special Report: REAL ESTATE QUARTERLY

A surge of activity in the summer gave the San Fernando Valley office market a much-needed boost, but local brokers say they’re not willing to call it a turnaround just yet.

SOUTH BAY/MID-CITIES: Doldrums Strike After Fleeting Pickup

Special Report: REAL ESTATE QUARTERLY

After a mild recovery earlier this year, the South Bay and Mid-Cities industrial markets contracted a case of the summertime blues.

SAN GABRIEL: Strong Infill Market Bears Burden of Downturn

Special Report: REAL ESTATE QUARTERLY

They say those who exercise regularly often recover from surgery faster than those who don’t. So think of the San Gabriel Valley’s industrial market as fit ... and the real estate downturn as the dreaded operation.

Prices Inching Up as Fall’s Arrival Cools Activity

Homes in higher price range are sitting on market longer.

Home prices in L.A. County continued inching up in September.

TRI-CITIES: Space Absorbed in Pasadena Reversal of Fortune

Special Report: REAL ESTATE QUARTERLY

A year and a half ago, when the Tri-Cities market had a whopping 1 million square feet of new office space set to come online smack in the middle of a dismal economy, the area braced itself for a spike in vacancies.

Don’t Stop The Press

Hollywood Reporter starts a slick weekly as it moves daily news online.

Will the Hollywood Reporter bring in new readers as it launches a glossy celebrity/lifestyle magazine?

Tease photo

Upward Curve for Flats

Special Report: REAL ESTATE QUARTERLY

Single family homes and condos are out. Apartments are in.

Tease photo

Sinking Reputation Gets Instant Boost With Merger

LAW: Newly formed SNR Denton attracts partner prospects.

Over a roughly twelve-month period ending spring 2009, the downtown Los Angeles office of Chicago-based Sonnenschein Nath & Rosenthal LLP dwindled from more than 70 attorneys to 30 due to a combination of departures and layoffs.

Tease photo

Synthetic Jet Fuel Maker Takes Flight to Korea

Manufacturing: Westwood’s Rentech signs MOU with provincial government.

A Westwood company hoping to become the world’s leading provider of synthetic jet fuel and diesel has taken another step in that direction.

Tease photo

Dutch Company Takes Shine to Teeth Whitener

HEALTH CARE & BIOTECH: Sonicare maker Royal Philips buys Culver City’s Discus.

After celebrity dentist Bill Dorfman and his partners decided it was time to sell their 20-year-old teeth-whitening company earlier this year, they were flooded with more than 50 offers from personal-care and private-equity firms.

Tease photo

Solar Businesses Burned by DWP

Installation firms take dim view of subsidy cuts.

DWP’s proposal to cut rebates for solar panels has installation companies burning mad.

Tease photo

Banks Feeling TARP Trapped

Some want to check out, but can’t leave.

Many L.A. banks might want to check out of the Troubled Asset Recovery Program, but they can’t leave.

Tease photo

Tall Doll Brawl

Disney’s Princesses take on Mattel’s American Girl

The tall dolls are brawling: Disney and Jakks Pacific have launched a Princess line to compete with Mattel’s American Girl.

Tease photo

HOLLYWOOD: Entertainment Leases Keep Stars in Alignment

Special Report: REAL ESTATE QUARTERLY

After a rocky second quarter, the July-to-September period looked better for the Hollywood-West Hollywood market.

DOWNTOWN: Highrise Sale, Lease Lift Core Office Market

Special Report: REAL ESTATE QUARTERLY

Although downtown continued sliding during the third quarter, the office market has begun to show some signs of life.

WESTSIDE: Yahoo Lease Deals Cost Tenants in Office Search

Special Report: REAL ESTATE QUARTERLY

The Westside office market struggled again last quarter, but some submarkets had to be envious of others.

WILSHIRE CORRIDOR: Landlords Fight to Keep Tenants in Place

Special Report: REAL ESTATE QUARTERLY

The Wilshire Corridor’s long downward spiral slightly slowed in the third quarter.

Foster City Builder Finds Success in L.A. Rentals

Special Report: REAL ESTATE QUARTERLY

Foster City builder Legacy Partners finds success with L.A. rentals.

In Defense of Giving Preference to Local Contractors

OP-ED

Councilman Bernard C. Parks disputes Charles Crumpley’s criticism of L.A.’s plans to favor local contractors.

Time to Get More Green Space in L.A.

OP-ED: Developer fees should be spent where they’re needed: in underserved areas and for maintenance and operations.

Clive Hoffman believes developer fees for parks should go where they’re most needed: to create and maintain parks in underserved areas

Architect of NFL Field, Staples Draws New Plans

SPORTS BUSINESS: Dan Meis moves practice to nation’s largest sports design firm.

Prominent Los Angeles sports architect Dan Meis, one of two lead designers of Staples Center, has joined the largest sports architecture firm in the country and will build up its Los Angeles office.

Insider Brings Apparel Expertise to New Collection

RETAIL & APPAREL: Janine Blain launches line of simple styles with low prices.

Janine Blain brings her expertise in apparel industry merchandising, buying and market research to her new venture: She’s playing the role of fashion designer.

Is the World Ready for the Elvis Sandwich Dessert?

PAGE 3

Eric Greenspan defeated fellow L.A. area chefs Mark Peel, Akira Hirose and Octavio Becerra in a recent cooking competition thanks to some inspiration from “the King.”

Bar Gives Patrons the Big Picture

Legends in Long Beach installs immense $90,000 television.

A Long Beach sports bar gets a really big screen TV. Maybe the largest in the United States for a bar.

News of the Week

News of the Week

Calendar & Events

Calendar

Warner Music's New Techno-Beat

Will Google’s new online service help Warner Music Group replace retailer sales

Will Warner Music Group be able to turn online music purchases to its advantage?

Tease photo

Friday, October 15

L.A. Gets $546 Million Federal Loan for Rail Project

Los Angeles’s pursuit of an expanded mass-transit system is advancing as the U.S. Transportation Department today approved a $546 million loan to build an additional light-rail line.

KB Home Ex-CEO Karatz Won’t Get New Trial

OTHER NEWS

Former KB Home Chief Executive Bruce Karatz has lost his bid for a new trial, six months after a jury convicted him of hiding backdated stock options from auditors and regulators.

The Week’s Big Movers

The Business Journal’s index of largest local public companies eked out a small gain for the week despite investor worries about the effect on banks of the foreclosure crisis.

Mozilo to Settle with SEC for $67.5 Million

Angelo Mozilo, the former chief executive of Countrywide Financial Corp, has settled Securities and Exchange Commission charges that he misled investors and engaged in insider trading to reduce losses.

Mattel Cautious About Christmas

Mattel Inc. reported an improved third quarter, thanks to good sales of "Toy Story 3" toys and its new World Wrestling Entertainment line, but gave a cautious sales outlook for the holidays.

Malone Is Live Nation Chairman, For Now

Live Nation Entertainment Inc. said Barry Diller had stepped down as chairman and John Malone would serve as interim chairman, following several weeks of internal division at the music industry giant.

Thursday, October 14

Port Traffic Gains Continue

Both Los Angeles area ports continued showing major year-over-year cargo gains last month, though volumes were slightly lower than August.

Bank CEO Resigns

Americas United Bank said Chief Executive Officer Gilbert J. Dalmau had resigned and an interim CEO was appointed.

Kazaa Music Service Acquired

Atrinsic Inc. said that it had acquired the assets of the Kazaa peer-to-peer digital music service from Brilliant Digital Entertainment of Sherman Oaks in a stock deal valued at nearly $5.2 million.

Wednesday, October 13

Medicare Scheme Netted $35 Million, Officials Say

OTHER NEWS

An Armenian-American crime ring based in Los Angeles and New York is accused of defrauding Medicare of more than $35 million by using stolen doctor and patient identities and setting up dozens of phony clinics coast-to-coast, according to federal indictments.

Lions Gate Execs Call MGM Merger 'Natural Fit'

OTHER NEWS

Lions Gate Entertainment Corp. executives called the company's proposed merger with struggling Metro-Goldwyn-Mayer Studios Inc. a "once-in-a-lifetime opportunity" that would cut costs as it neatly melds complementary operations.

Irani to Retire in May

Occidental Petroleum said that Ray Irani will step down as chief executive in May, and the company will cut the salaries of its top executives to bring them more in line with peers in their industry.

Abraxis Shareholders Approve Merger

Los Angeles biotech Abraxis Bioscience Inc.’s $3 billion merger with Celgene Corp. has cleared a remaining hurdle, Celgene said.

Guess Hires COO

Guess Inc. said that Nike executive Michael Prince had been hired as its chief operating officer.

Tuesday, October 12

Green Dot's Wild Wal-Mart Ride

OTHER NEWS

Welcome to Wal-Mart. Would you like to open a bank account? Nightmares of such a greeting have kept many community bankers up at night, and their lobby has fought hard to see that it doesn't happen. Yet the Bentonville, Ark., behemoth has found a back door into certain banking services. While the company that helped open it, Green Dot, has profited handsomely, investors may have missed their opportunity.

THQ Inks Chopra Video Game Deal

THQ Inc., known for video games featuring raucous World Wrestling Federation characters, has signed a deal to develop games based on the alternative health and spirituality teachings of Dr. Deepak Chopra.

Superior Names New CFO

Superior Industries International Inc. has named Kerry Shiba its new chief financial officer.

Iris Hires Finance Chief

Iris International Inc. said that Amin Khalifa will become its chief financial officer.

Monday, October 11

Icahn Now Supports Lions Gate, MGM Merger

OTHER NEWS

Carl Icahn, the billionaire investor who’s been trying to buy Lions Gate Entertainment Corp., said he supports the Santa Monica film studio’s proposed combination with Metro- Goldwyn-Mayer Inc.

Dutch Company to Acquire Discus Dental

Royal Philips Electronics N.V. will acquire Culver City’s Discus Holdings Inc., maker of Discus Dental professional tooth whitening products, for an undisclosed amount.

Report: Hulu prepares IPO amid battle with Netflix

OTHER NEWS

Los Angeles-based web video service Hulu is prepared to raise as much as $300 million in an initial public offering likely to be led by Morgan Stanley, according to sources familiar with the matter.

Obagi CEO Resigns

Obagi Medical Products Inc.'s Chief Executive Steven R. Carlson has resigned, effective immediately. A board member will serve as CEO until a replacement is found.

DineEquity Gets Credit, Sells Restaurants

DineEquity Inc. has signed a new $950 million credit facility, and will sell 56 company-operated Applebee's restaurants in Missouri, Illinois and Virginia as part of an ongoing effort to improve its balance sheet.

Martha Stewart Block Shortened at Hallmark

OTHER NEWS

The Hallmark Channel has shrunk its lifestyle-programming block from Martha Stewart Living Omnimedia that launched only last month but has gotten off to a weak ratings start. An key executive involved in the initiative also has been forced out.

Ticketmaster Ex-CEO to Lead a New Rival

OTHER NEWS

Former Ticketmaster Chief Executive Fredric D. Rosen is preparing to challenge the company he once piloted to dominance.

Santa Monica City Council to Approve Dating Services

OTHER NEWS

Santa Monica officials are preparing to get with the times by repealing a 1954 ordinance that prohibits "personal introductory service, marriage bureau, lonely hearts club, or other business of a like nature" from operating within the city limits.

WHO’S WHO IN LAW - Christopher Brearton

SPECIAL REPORT: Entertainment Lawyers

Christopher Brearton's clients over the years have ranged from the Minnesota Vikings to the International Olympic Committee and DreamWorks Animation.

WHO'S WHO IN LAW - Marc Toberoff

SPECIAL REPORT: Entertainment Lawyers

Hollywood studios have long seen Marc Toberoff as a particularly irksome adversary. Nevertheless, he was surprised one day in May to find he had been personally sued by Warner Bros.

Tease photo

WHO'S WHO IN LAW - Roman Silberfeld

SPECIAL REPORT: Entertainment Lawyers

Roman Silberfeld’s first entertainment trial turned out to be one of the biggest of this year – and his biggest trial court win ever.

Tease photo

WHO'S WHO IN LAW - Steve Marenberg

SPECIAL REPORT: Entertainment Lawyers

Show business artists tend to be obsessive about their work, and in Steve Marenberg they have a lawyer that shares their drive.

Tease photo

WHO'S WHO IN LAW - Robert Darwell

SPECIAL REPORT: Entertainment Lawyers

In 22 years as an entertainment lawyer, Robert Darwell has certainly made his mark, working on some of the industry’s biggest deals, such as Comcast’s acquisition of a majority interest in NBC Universal,

Tease photo

WHO'S WHO IN LAW - Joseph Calabrese

SPECIAL REPORT: Entertainment Lawyers

Joseph Calabrese says that he feels some personal satisfaction when he sees a 3-D movie make big box office bucks.

Tease photo

WHO’S WHO IN LAW - Ivy Kagan Bierman

SPECIAL REPORT: Entertainment Lawyers

Ivy Kagan Bierman once was the only female labor lawyer on the short list of entertainment industry labor lawyers in the Hollywood Reporter Power Lawyer issue.

Proposition 23 Proponents Wonder What Happened to Civility

OP-ED

Proposition 23 supporters Greg Goff and Bill Klesse feel attacks by the measure’s foes are out of bounds.

‘You Can Do It!’

OP-ED: L.A. businessman Stan Dashew’s positive attitude should be a guide on how to bolster today’s economy.

Harold Katz cites entrepreneur Stan Dashew’s you-can-do-it spirit as an attitude L.A. should embrace.

L.A.’s Pension for Payouts

COMMENT

Charles Crumpley thinks it’s a pity that Los Angeles County voters won’t get a chance to decide on public pension matters in the coming election.

Clothing Maven’s Manse Cut From Different Cloth

CHIEF DWELLINGS: CMT’s Arif Noor seeks $12.5 million for stylish, cantilevered home.

There are some clothing lines that will forever make me feel 20 years too old or 20 pounds too fat, but such is life in Los Angeles.

Some Cabbies Run Out of Road in Santa Monica

Sidebar - Santa Monica’s switch to a franchise system means the end of the road for some local taxi businesses.

Fare Fight?

Taxi firms say labor sitting in drivers’ seat.

L.A. city cab companies fear labor groups are steering drivers toward a costly “bill of rights.”

Tease photo

Calendar & Events

Calendar

Regional Reports

Regional Report

Santa Monica Firm Looks To Refine Spin for DVDs

ADVERTISING & PR: Fox disc campaigns will rely on specific audience research.

Hill & Knowlton, a PR agency that won the Fox Home Entertainment account last week, wants to discover the next big way to sell movie discs.

SEC to Get Personal With Ex-Countrywide Trio

BANKING & FINANCE: Trial will test agency’s ability to go after individual executives.

Executives nationwide will be watching closely when Angelo Mozilo, after more than two years out of the public eye, appears in federal court next week for the start of his civil fraud trial.

Tease photo

L.A. Port Gives a Breather on Clean Air Program

TRADE & TRANSPORT: Percentage benchmark on employee drivers loosened for 2011.

After a federal court decision upholding the controversial portion of Clean Truck Program, officials at the Port of Los Angeles have adjusted the program’s implementation schedule, giving trucking companies a break.

News of the Week

News of the Week

Solid Beachhead

Terranea is poised to take advantage of rebound in hotel sector thanks to loan extensions, fresh capital.

Loan extensions and new capital have given luxury Terranea Resort some breathing room.

Tease photo

Cue the Internet

The owner of a renowned sheet music store took her business online after her shop closed.

Sheet music vendor Stephanie Rinaldo retuned her business online and now hopes to reopen a brick-and-mortar shop.

Tease photo

Floor at Center Of Rent Dispute

Landlords, tenants feud over rate hikes.

Tenant groups and landlords are battling over the city’s rent-control rules.

Tease photo

Fashion Chain Slips Into Sears

Forever 21 sees Costa Mesa space as good fit.

South Coast Plaza’s Sears is getting a fashion makeover by subleasing space to apparel chain Forever 21.

Tease photo

Tale of Two Cities

Overgrown L.A. median drives Beverly Hills eatery owner to action.

A Beverly Hills restaurant owner was borderline furious when L.A. city crews wouldn’t clean up a nearby road median.

Positive Sales Signs

Maker of bags from old billboards unveils couture product line.

A company that makes tote bags out of old billboard vinyl has signed off on a new couture line.

A Sound Invention Proposal

Local high schooler’s earplug idea earns her trip to Dallas contest.

A local high schooler makes some noise in a national business-plan contest with her earplug-alarm concept.

Tease photo

WHO’S WHO IN LAW - Leigh Brecheen

SPECIAL REPORT: Entertainment Lawyers

Leigh Brecheen was on the front lines of the year’s most high-profile entertainment contract dispute, between her client Conan O’Brien and NBC.

Tease photo

Water-Saving Certification at a Trickle in Burbank

REGULATION WATCH: Building owners, businesses face 25 percent surchage Nov. 1.

Hundreds of businesses and apartment building owners in Burbank are scrambling to meet an Oct. 31 deadline to certify to the city that they have installed water-saving faucets, showerheads and toilets in their buildings.

Industry Big Shots Exchange Some Cheap Shots

TECHNOLOGY: Activision CEO’s criticism of rival EA draws some return fire.

A war of words is raging between Santa Monica video game publisher Activision Blizzard Inc. and its Redwood City competitor Electronic Arts.

WHO'S WHO IN LAW - Russell J. Frackman

SPECIAL REPORT: Entertainment Lawyers

Russell J. Frackman once represented A&M Records Inc. in a suit against Napster Inc. for illegal downloads.

New Buyer Seeks Home for B.H. Condos

Tight market could cut number of units for luxury Beverly Hills project.

A long-delayed Beverly Hills condo project is finally moving forward in a market that may no longer support it.

WHO'S WHO IN LAW - Lou Karasik

SPECIAL REPORT: Entertainment Lawyers

Lou Karasik's clients over the years have included MySpace, 20th Century Fox and DirecTV.

WHO'S WHO IN LAW - Kathy Jorrie

SPECIAL REPORT: Entertainment Lawyers

When not working on cases that involve celebrities such as Bon Jovi and the late Michael Jackson, Kathy Jorrie likes to train for and run in marathons.

WHO'S WHO IN LAW - Lawrence Iser

SPECIAL REPORT: Entertainment Lawyers

After winning a summary judgment on behalf of Michael Jackson in a trademark infringement case, Lawrence Iser once had a losing punch him in the jaw.

WHO'S WHO IN LAW - Marshall B. Grossman

SPECIAL REPORT: Entertainment Lawyers

The highlight of Marshall B. Grossman's past year was putting ESPN sportscaster Erin Andrews’ hotel stalker in the "Graybar Hotel".

WHO'S WHO IN LAW - Joshua Grode

SPECIAL REPORT: Entertainment Lawyers

If Joshua Grode wasn't an entertainment industry attorney, he'd likely be creating visual effects for movies or working as a film editor.

WHO'S WHO IN LAW - Patricia Glaser

SPECIAL REPORT: Entertainment Lawyers

Among Patricia Glaser's more interesting cases was successfully negotiating a favorable resolution on behalf of Conan O’Brien when NBC Universal sought to solve its problems with “The Jay Leno Show” by seeking to give Conan a new time slot.

WHO'S WHO IN LAW - John M. Gatti

SPECIAL REPORT: Entertainment Lawyers

John M. Gatti once represented Alan Ladd Jr. in a suit against Warner Bros. involving television licensing allocation issues being tried for the first time.

WHO'S WHO IN LAW - William L. Cole

SPECIAL REPORT: Entertainment Lawyers

William L. Cole helped hammer out a precedent-setting arbitration for a major television producer against the Writers Guild establishing important restrictions on the scope of rights retained by writers of television motion pictures.

WHO'S WHO IN LAW - Roxanne Christ

SPECIAL REPORT: Entertainment Lawyers

Roxanne Christ's most challenging assignment was representing the principal investor in an entity that acquired rights to digitally reproduce everything in the Vatican library.

WHO'S WHO IN LAW - Shaun Clark

SPECIAL REPORT: Entertainment Lawyers

Shaun Clark's most challenging deal was once representing Vince Neil in his negotiation to rejoin Motley Crue as their lead singer. Not because of any substantive aspect of the transaction, but because of the larger-than-life personalities.

WHO'S WHO IN LAW - Glenn Pomerantz

SPECIAL REPORT: Entertainment Lawyers

The worst moment in Glenn Pomerantz's legal career was once having to tell the general counsel of a client that one of his company’s employees had been cheating the company on his expense reports.

WHO'S WHO IN LAW - Candace Carlo

SPECIAL REPORT: Entertainment Lawyers

Candace Carlo once worked around the clock to acquire for a client the script for “My Best Friend’s Wedding.”

Who's Who in L.A. Law?

SPECIAL REPORT

Because this is Los Angeles, the city’s entertainment industry lawyers handle some of the highest-profile cases in show biz. The Business Journal shines its spotlight on lawyers who work for show biz clients.

Tease photo

Nancy Sidhu: Doing the Math

Nancy D. Sidhu expects her tenure to go by the numbers as new chief economist at L.A. County Economic Development Corp.

Nancy D. Sidhu crunches the numbers that impact L.A. as chief economist at Los Angeles County Economic Development Corp.

Tease photo

WHO's WHO IN LAW - P. JOHN BURKE

Special Report

The Business Journal raises the curtain on the legal stars who work in L.A.’s entertainment industry.

WHO'S WHO IN LAW - JORDAN K. YOSPE

Special Report

The Business Journal raises the curtain on the legal stars who work in L.A.’s entertainment industry.

WHO'S WHO IN LAW - J. MARTIN WILLHITE

Special Report

The Business Journal raises the curtain on the legal stars who work in L.A.’s entertainment industry.

WHO'S WHO IN LAW - HOWARD WEITZMAN

Special Report

The Business Journal raises the curtain on the legal stars who work in L.A.’s entertainment industry.

WHO'S WHO IN LAW - LAWRENCE J. ULMAN

Special Report

The Business Journal raises the curtain on the legal stars who work in L.A.’s entertainment industry.

WHO'S WHO IN LAW - GAIL MIGDAL TITLE

Special Report

The Business Journal raises the curtain on the legal stars who work in L.A.’s entertainment industry.

WHO'S WHO IN LAW - ANDREW J. ‘A.J.’ THOMAS

Special Report

The Business Journal raises the curtain on the legal stars who work in L.A.’s entertainment industry.

WHO'S WHO IN LAW - STANTON ‘LARRY’ STEIN

Special Report

The Business Journal raises the curtain on the legal stars who work in L.A.’s entertainment industry.

WHO'S WHO IN LAW - HENRY SHIELDS Jr.

Special Report

The Business Journal raises the curtain on the legal stars who work in L.A.’s entertainment industry.

WHO'S WHO IN LAW - MICHAEL S. SHERMAN

Special Report

The Business Journal raises the curtain on the legal stars who work in L.A.’s entertainment industry.

WHO'S WHO IN LAW - NICK SAGGESE

Special Report

The Business Journal raises the curtain on the legal stars who work in L.A.’s entertainment industry.

WHO'S WHO IN LAW - GLENN POMERANTZ

Special Report

The Business Journal raises the curtain on the legal stars who work in L.A.’s entertainment industry.

WHO'S WHO IN LAW - MICHAEL J. PLONSKER

Special Report

The Business Journal raises the curtain on the legal stars who work in L.A.’s entertainment industry.

WHO'S WHO IN LAW - L. LEE PHILLIPS

Special Report

The Business Journal raises the curtain on the legal stars who work in L.A.’s entertainment industry.

WHO'S WHO IN LAW - ANTHONY J. ONCIDI

Special Report

The Business Journal raises the curtain on the legal stars who work in L.A.’s entertainment industry.

WHO'S WHO IN LAW - Ruth Fisher

SPECIAL REPORT: Entertainment Lawyers

Early in Ruth Fisher’s career at Munger Tolles, an attorney at the firm recruited her to work on a deal involving an entertainment company. She’s been involved in show biz matters ever since.

Tease photo

WHO'S WHO IN LAW - Richard Kendall

SPECIAL REPORT: Entertainment Lawyers

Richard Kendall's longest workday as an attorney was once spending 27 hours straight pursuing the hidden assets of Ferdinand Marcos.

WHO'S WHO IN LAW - Mickey Mayerson

SPECIAL REPORT: Entertainment Lawyers

Mickey Mayerson's most challenging case to date was representing a newly formed Japanese premium pay-TV movie channel. None of the executives spoke English or knew much about the movie business.

WHO'S WHO IN LAW - Skip Miller

SPECIAL REPORT: Entertainment Lawyers

Skip Miller's clients have ranged from rock 'n rollers Motley Crüe and Steven Tyler to the mother of the late rapper Tupac Shakur.

WHO'S WHO IN LAW - Schuyler Moore

SPECIAL REPORT: Entertainment Lawyers

The most challenging deal Schuyler Moore's career was working on new DreamWorks studio financing transaction in 2009. He represented the studio's financial backer, Reliance Big Entertainment Ltd.

Friday, October 8

The Week’s Big Movers

The Business Journal’s index of largest local public companies closed up slightly for the week as investors saw signs that the Fed may act to stimulate the economy.

L.A.'s KCET-TV Plans To Cut Ties with PBS

KCET, the most prominent of PBS’s Southern California affiliates, said that due to budget concerns it plans to leave the network and become a non-profit independent station.

KIIS-FM Stays on Top L.A. Radio Market

Top 40 station KIIS-FM has maintained its domination of L.A.’s radio charts.

California Budget Deal Done -- Finally

OTHER NEWS

On the 100th day of the fiscal year, California lawmakers approved the tardiest budget in state history this morning after a marathon session at the Capitol.

American Apparel Hires President

American Apparel shares jumped more than 10 percent Friday after the struggling Los Angeles apparel maker hired Tom Casey, Blockbuster Video’s former chief financial officer, as acting president.

3M Co. Extends Tender Offer for Cogent

The 3M Co. has acquired 52 percent of Cogent Inc. shares, but extended its tender offer as some of Cogent’s largest shareholders continue to hold out.

L.A. Mansion Sells for $50 Million

OTHER NEWS

A Los Angeles mansion that originally listed for $85 million has sold for $50 million. It's believed to be one of the highest-priced residential real-estate sales in the U.S. so far this year.

Thursday, October 7

MGM Solicits Lenders Votes on Restructuring

OTHER NEWS

MGM has made it official, formally launching the process of asking its debtholders to approve a pre-packaged bankruptcy plan.

Power-One Makes Acquisition

Power-One Inc. which makes power inverters and related devices for computer equipment and renewable energy systems, has acquired software developer Fat Spaniel Technologies Inc.

ILFC Pays Down $2 Billion in Bank Debt

International Lease Finance Corp. has repaid a $2 billion bank loan as the Century City aircraft leasing company works to improve its financial condition.

DineEquity Prices Debt Offering

DineEquity Inc. has priced an offering of $825 million in senior unsecured notes, proceeds of which will be used to buy back older debt.

Feds Close Down Beverly Hills Tax Relief Company

OTHER NEWS

A federal court order has shut down a Beverly Hills company offering tax relief services after the Federal Trade Commission alleged that the national operation bilked 20,000 consumers out of $100 million by falsely claiming it could reduce people's tax debts.

Wednesday, October 6

Saehan CEO To Resign

Saehan Bancorp Chief Executive Chung Hoon Youk plans to resign from the company and its board later this month.

Cogent Cleared to Pursue Sale

A Delaware judge has given Cogent Inc. the go-ahead to pursue a $943 million tender offer from 3M Co. that expires on Thursday. The $10.50 a share bid had been threatened by a larger offer from NEC Corp.

San Gabriel Valley Banks to Merge

First General Bank and the parent of American Premier Bank have signed a definitive merger agreement. First General will be the surviving bank.

Aecom Completes Acquisition

Aecom Technology Corp. has completed most of a $324 million acquisition of project management firm Davis Langdon.

At Flagging Tribune, Tales of a Bankrupt Culture

OTHER NEWS

Under Sam Zell's hand-picked executive team, Tribune Tower -- home to the staid Chicago parent of the Los Angeles Times and KTLA-TV -- came to resemble a frat house, complete with poker parties, juke boxes and pervasive sex talk.

L.A.’s 'Manhattanization' Spurs $30M Parking Lot Listing

OTHER NEWS

A Los Angeles parking lot adjacent to the Staples Center sports arena is on the market for about $30 million as the “Manhattanization” of the once-moribund downtown spurs development of hotels, restaurants and retail.

Tuesday, October 5

Calacanis Plans New Editorial Project To Rival TechCrunch

OTHER NEWS

Jason Calacanis, chief executive of Santa Monica's "human-powered search engine" Mahalo, is planning some direct competition to the TechCrunch blog empire.

Pritzker Firm Acquires L.A. Hotel

Geolo Capital, the private equity arm of San Francisco billionaire John A. Pritzker, has acquired a 250-room boutique hotel near LAX from a New York hedge fund.

Overseas Investors Acquire Beverly Hills Site

A high-profile Beverly Hills property next to the Beverly Hilton has been acquired by an investor group from Hong Kong and Singapore for more than $148 million.

MGA Sued Over Robotic Insect

MGA Entertainment Inc. has been sued by another toymaker, this time over its Legend of Nara Battling Bugs robotic toy line. The company said Innovation First's claims run counter to statements made in an earlier case.

Televisa to Invest $1.2 Billion in Univision

Grupo Televisa will take a stake of up to 35 percent in Univision Communications Inc., which owned by an investor group lead by Los Angeles billionaire Haim Saban.

Tetra Tech Makes Canadian Acquisition

Tetra Tech Inc. has acquired a large Canadian scientific and engineering services firm for an undisclosed amount. It's the Pasadena company's third such deal in the country.

CB Richard Ellis Fires Employees Over Payments to China

OTHER NEWS

CB Richard Ellis Group Inc. has fired six employees in China after discovering improper payments to local governmental officials.

Tribune Co. Judge Sets Bankruptcy Plan Deadline

OTHER NEWS

Tribune Co.’s creditors have until Oct. 15 to file alternative proposals for dividing up ownership of the parent company of the Los Angeles Times and KTLA-TV can pay creditors and exit bankruptcy.

Monday, October 4

Namvar Pleads Not Guilty to Wire Fraud

Bankrupt real estate investor Ezri Namvar has pleaded not guilty to five courts of wire fraud in connection with federal charges that that he stole $23 million from clients.

Image Entertainment Makes Acquisition

Image Entertainment Inc. has agreed to acquire Madacy Home Video, a division of Canada’s Madacy Entertainment.

Electro Rent Profit Jumps

Electro Rent Corp.'s fiscal first-quarter net income more than doubled due to an acquisition, a partnership deal and increased rental demand for its products.

Aspiriant Acquires Deloitte Unit

Wealth management firm Aspiriant has acquired Deloitte Investment Advisors, a registered investment advisory group that was owned by Deloitte Tax LLP.

Bug Music Gets Rights to Saban Music Catalog

Independent music publisher Bug Music Inc. has acquired worldwide rights to Saban Music Group’s large music catalog.

GBC International Acquires Washington Bank

L.A.’s GBC International Bank has acquired the assets of a small bank north of Seattle that was closed by bank regulators on Friday.

LAEDC Names ‘Business-Friendly’ Finalists

The Los Angeles County Economic Development Corp. has announced the finalists for its 2010 Most Business-Friendly City in Los Angeles County award.

At Disney, New Leaders in Internet and Gaming

The Walt Disney Company shook up its underperforming Internet and gaming division on Sunday, effectively splitting the unit in two and tapping two outsiders to lead the businesses.

Company Fit Partiers To a ‘T’

Hit+Run earns spots on event guest lists with its custom shirts.

Hit+Run’s custom T-shirts prove popular party favors at its customers’ events.

News of the Week

News of the Week

Friends’ Pet Project Blossoms Into Pasadena Firm

MANUFACTURING: Sale of cat and dog carriers spurs LaunchLab to open office.

Times are tough for sure, but at least one local small manufacturer is expanding into cushier quarters.

Experts See Patterns in Knockoff-Clothing Ruling

RETAIL & APPAREL: Judge’s ruling in favor of Forever 21 likely to

Forever 21’s recent victory in a federal lawsuit brought against it by clothing chain Express could make it more difficult for intellectual property holders to argue that their products have been knocked off.

Curtain Refuses to Fall on 3-D Technology Maker

Stock rises for Beverly Hills’ RealD despite box office bombs.

Despite some box office misfires, analysts and investors like the look of 3-D projection firm RealD.

Guitar Legend Cued Up

Local licensing firm amped about pushing Hendrix name, image.

Culver City’s Brand Sense rolls out rock legend Jimi Hendrix’s name and image as merchandising opportunities.

Losing His Touch?

Atari, Chuck E. Cheese creator stumbles with self-ordering eateries.

Nolan Bushnell, known for Atari and Chuck E. Cheese, has pulled the plug on his touch-screen eatery chain uWink.

Looking Back on a ‘Scrappy Player’ With a Nice Shot

Page 3

As Barack Obama hits the campaign trail again, many pundits are wondering if he has enough political magic left to salvage the midterm elections for Democrats.

Calendar & Events

Calendar

Out of a Deep Freeze

L.A. County health permits and design issues stalled Robert Herscu’s drive for a self-serve yogurt truck.

Robert Herscu had to switch into overdrive to get his Big Swirl Frozen Yogurt truck rolling.

Tease photo

USC Has New Blueprint for Engineers

Competition looks to build entrepreneurial skill set.

A $1 million donation for a USC competition was designed to build engineers better suited for the business world.

Tease photo

Broker’s New Arm Homes In on Downtown L.A.

REAL ESTATE: Residential seen as promising sector by Major Properties.

A new residential brokerage has targeted the downtown L.A. market. Major Properties, a downtown commercial and industrial brokerage, launched its Major Properties Residential division Sept. 20.

Tease photo

Medical Training Program Gets a Healthy Boost

HEALTHCARE & BIOTECH: Defense Department invests in UCLA software spinoff.

A UCLA tech transfer venture offering specialized medical training is another step closer to becoming a standalone company, thanks to an infusion of capital from the Department of Defense.

Tease photo

Cotton Proves Tough Squeeze

Clothing makers absorb soaring costs – for now.

L.A. clothing makers are chafing under the rising cost of cotton.

Tease photo

Proposition 23 Splits Business

No consensus on bid to delay greenhouse law.

A proposition to delay California’s greenhouse gas law has split business organizations across the county and the state.

Tease photo

Survey: L.A.County Businesses Squeezed by Cities

Search for cash will spur proposals for more taxes and fees.

Survey reports L.A. County’s cash-strapped cities will increasingly tax business to cover budget shortfalls.

Tease photo

Big Deal!

Speedy take on baccarat boosts L.A. card clubs

Success has been in the cards for local casinos that have added a speedy, low-wager version of baccarat.

Tease photo

In the News

Freeing jailed lawyer a big win for Full Disclosure’s activist journalism and validates non-profit business model.

Full Disclosure sees its non-profit model as good news for activist journalism.

Tease photo

L.A. Firm Seeks Power Boost From Ex-DWP Chief

LAW: H. David Nahai now billing for downtown’s Lewis Brisbois.

Although it’s one of California’s largest law firms, Lewis Brisbois Bisgaard & Smith LLP is still known mostly for its insurance defense practice.

Reviewing the Medical Reports

OP-ED: Several studies contradict claims by ex-Beverly Hills official that doctors’ offices provide little fiscal benefit.

Dan Gottlieb and Steve Lebowitz cite studies that contradict claims that medical office space provides little benefit to Beverly Hills.

Burkle’s Way-Too-Personal Touch

COMMENT

Charles Crumpley writes that Ron Burkle should’ve remembered that it was strictly business, nothing personal, in his battle with Barnes & Noble.

Kevin Czinger: Driving Force

INTERVIEW: Former Yale football standout Kevin Czinger looks to tackle the U.S. market as chief exec of electric-car maker Coda Automotive.

College football star Kevin Czinger is now charged up about pushing Coda’s all-electric sedan.

Tease photo

Victories Thaw Hockey Team’s Fan Relationship

SPORTS BUSINESS: Kings’ social networking, website get lift from postseason run.

The Los Angeles Kings may have one of the lower profiles of a professional team in the city, but there is one marketing area where they aren’t lagging nearly as much: the new world of social media.

Regional Reports

Regional Report

Saturday, October 2

Cogent Asks Judge to Reject Investors’ Call for NEC

OTHER NEWS

Cogent Inc., the fingerprint- identification systems maker, asked a Delaware judge to reject shareholders’ call to put its 3M Co. buyout deal on hold in favor of a late, higher bid by NEC Corp.

Friday, October 1

L.B. Port Bridge Replacement To Proceed

The Long Beach City Council has approved plans by the Port of Long Beach to replace the aging Gerald Desmond Bridge, clearing the way for the $1 billion project to begin as early as next year.

American Apparel Avoids Covenant Breach

American Apparel Inc. shares jumped 16 percent Friday after the apparel manufacturer and retail said it was able to amend an important credit agreement with its key lender.

The Week’s Big Movers

The Business Journal’s weighted index of the largest local public companies closed up for the week as investors reacted to some positive news on manufacturing trends.

Stonefield Josephson To Merge

Stonefield Josephson Inc., a 35-year-old accounting firm headquartered in Century City, has agreed to merge with a large New York firm.

CAA Sells Minority Interest to TPG

OTHER NEWS

TPG Capital is buying a 35 percent minority interest in Creative Artists Agency, following seven months of tough negotiations with potential financial partners pursued by CAA, according to an entertainment industry blog.

Radnet Completes Acquisition

RadNet Inc. has completed its acquisition of a South Carolina software company, Image Medical Corp., in cash-and-debt deal valued at $10.7 million.

Reliance Steel Makes Acquisition

Reliance Steel & Aluminum Co. is acquiring the assets of a Pennsylvania metals company, Diamond Consolidated Industries Inc., and several affiliated companies with operations in other states.

Icahn Buys MGM Debt, Presses for a Lions Gate Merger

OTHER NEWS

Billionaire investor Carl Icahn bought a significant chunk of Metro-Goldwyn-Mayer Inc.'s debt and is pushing the beleaguered film studio to merge with rival Lions Gate Entertainment Corp., said people familiar with the matter.