Stories for December 2013
Tuesday, December 31
Daily Journal Corp., the downtown L.A. publisher of legal newspapers and websites, on Tuesday said it had again missed its deadline for making a required annual filing with the U.S. Securities and Exchange Commission.
Signature Group Holdings Inc. said its shareholders have approved a proposal to reincorporate in the state of Delaware, the latest effort to reinvigorate the Sherman Oaks holding company.
The Los Angeles Business Journal’s index of largest local public companies rose 34 percent over the past year, in line with gains in the wider markets.
In Tuesday trading, the Dow Jones industrial average closed up 72 points to 16,577. The Nasdaq rose 22 points to 4,177. The S&P 500 rose 7 points to 1,848. The LABJ Stock Index rose less than 1 point to 181.
Although California is home to some of the nation's biggest drone manufacturers, the state was passed over Monday when the federal government picked six sites across the nation for testing the use of robotic aircraft inairspace, the Los Angeles Times reports.
Home prices in most cities are increasing more slowly than earlier in the year, and consumer confidence is rising, according to data released Tuesday, dual signs that expectations of a stronger economy in 2014 are taking root, USA Today reports.
More than 500 union staff members at the Motion Picture & Television Fund, represented by the Service Employees International Union-United Health Care Workers, have signed off on a new three-year contract, the Wrap reports.
Tony Stark did more than save the world in “Iron Man 3.” He helped deliver a record summer in theaters and carry Hollywood to a new high for all of 2013, Bloomberg News reports. U.S. and Canadian cinemas are expected to pass last year’s record $10.8 billion in ticket sales by about 1 percent.
This month's scheduled expiration of a federal credit for production costs that the Treasury says will cost about $430 million over 2013 and 2014 — set off a scramble to get cameras rolling, the Los Angeles Times reports.
World stocks were ending 2013 close to six-year peaks on Tuesday and benchmark bond yields were poised for their first annual rise since 2009 as investors anticipated a further pick-up in global growth, Reuters reports. The Wall Street Journal says the smart way to play the markets this year seems to have been to follow the dumb money.
Gold slid more than 1 percent in early trading Tuesday, on course for its biggest annual decline in 32 years as prospects for global economic recovery prompted investors to switch to riskier assets, Reuters reports.
Owners of older homes in affluent Calabasas say a crackdown on septic systems and other code issues targets them unfairly, the Los Angeles Times reports.
Originally developed for use in hybrid vehicles, stop-start technology — which automatically shuts off a vehicle's engine rather than wasting gas idling at a light or in a fast food line — is rapidly being rolled out on everything from mini-cars to high-performance luxury vehicles, CNBC reports.
U.S. media and entertainment companies completed $75.8 billion worth of acquisitions and mergers this year, a 47 percent increase from last year, USA Today reports.
Viewers spent a record 17.2 hours a week watching ad-supported cable networks in 2013, rebounding from a slight dip last year, while the big four networks claimed a combined 7.5 hours, another low, USA Today reports.
Where credit scores are rare, banks are using a psychometric test developed at Harvard to help lend to small-business owners, the New York Times reports.
American tech entrepreneurs are importing the Silicon Valley mind-set to India, a nation with a reputation as a tough place to do business, the New York Times reports.
Even before the terror attacks in Volgograd, sports fans' concerns about price, logistics, lack of quality lodging and Russia's antigay law have left demand for the 2014 Olympics in Sochi far below other recent Winter Games, the Wall Street Journal reports.
In Tuesday morning trading, the Dow Jones industrial average was up 58 points to 16,562. The Nasdaq rose 23 points to 4,177. The S&P 500 rose 7 points to 1,849.
Monday, December 30
BreitBurn Energy Partners on Monday said that it has completed the acquisition of interests in oil and natural gas properties in the Texas Permian Basin from CrownRock of Midland, Texas for about $282 million.
DineEquity Inc. on Monday said that it has opened its first IHOP restaurant in Saudi Arabia.
Glendale's Americas United Bank said it plans to purchase the deposits and branch office of Silvergate Bank in Lancaster.
In Monday trading, the Dow Jones industrial average closed up 26 points to 16,504. The Nasdaq fell 2 points to 4,154. The S&P 500 fell less than 1 point to 1,841. The LABJ Stock Index rose 1 point to 181.
The cities of Los Angeles and Santa Monica in the last decade have approved more than a dozen construction projects on or near two well-known faults without requiring seismic studies to determine if the buildings could be destroyed in an earthquake, according to a Los Angeles Times analysis
Wells Fargo & Co. said Monday that it has agreed to pay $591 million to settle disputes over soured mortgages the bank sold to Fannie Mae during the subprime housing boom, says the Los Angeles Times. The Times also reports that a recent Times investigation into the intense sales culture at Wells Fargo has drawn strong reaction from the bank's customers and employees.
French President Francois Hollande received approval from the country’s constitutional court to proceed with his plan to tax salaries above 1 million euros at 75 percent for this year and next, Bloomberg News reports.
The unpopular individual mandate that's part of Obamacare was unnecessary to the program's overall success, and it's going to hurt Democrats in next year's midterm elections, former Democratic National Committee Chairman Howard Dean tells CNBC.
Molina Healthcare Inc. is looking for increased enrollment in California's health insurance exchange in the next three months, the Los Angeles Times reports.
More than 1.1 million Americans signed up for an insurance plan through the federal health-care marketplace during its initial enrollment period, with more than 975,000 enrolling in December alone, the Washington Post reports.
The real-life inspiration for the hard-partying financial swindler played by Leonardo DiCaprio in "Wolf of Wall Street" could be TV’s next reality star, the Hollywood Reporter says. Jordan Belfort now works as a motivational speaker based out of Manhattan Beach.
The number of Americans who signed contracts to buy existing homes in November was essentially unchanged from October, suggesting sales are stabilizing after several months of declines, the Associated Press reports.
The United States, the country that invented the Internet, is falling dangerously behind in offering high-speed, affordable broadband service to businesses and consumers, the New York Times reports.
Obama administration policies stimulating an expansion of tribal gambling have touched off new battles over proposed tribal casinos in California and elsewhere, the Los Angeles Times reports.
Billionaire Harold Simmons, one of the richest men in America and a major contributor to the Republican Party, has died in his native Texas at 82, Reuters reports.
So-called shadow bankers have stepped in to lend to debt-hungry businesses and households as the Chinese government tries to rein in traditional banks, the Wall Street Journal reports.
A controversy is brewing over a request to remake Barbie in way contrary to the iconic image so many girls knew growing up, BizPac Review reports.
In Monday morning trading, the Dow Jones industrial average was up 18 points to 16,496. The Nasdaq fell 3 points to 4,154. The S&P 500 fell less than 1 point to 1,841.
Friday, December 27
Global Eagle Entertainment Inc. said that it netted more than $183 million from its most recent public stock offering,
Gov. Jerry Brown on Friday appointed local class action attorney Shelley Kaufman as a judge on the Los Angeles County Superior Court to fill a vacancy created by a retiring judge.
The Los Angeles Business Journal’s index of largest local public companies closed up for the week.
In Friday trading, the Dow Jones industrial average closed down 1 point to 16,478. The Nasdaq fell 11 points to 4,157. The S&P 500 fell less than 1 point to 1,841. The LABJ Stock Index rose less than 1 point to 180.
A proposed ballot measure seeks to make California's government more responsive and less beholden to special interests by increasing the number of elected representatives nearly one hundredfold, the Wall Street Journal reports.
A new California gun law that takes effect Jan.1 has customers stocking up on long guns, CBS 13 in Sacramento reports.
A federal judge will soon decide how much Bank of America should pay for some of Countrywide Financial Corp.'s sins in the lead-up to the financial crisis, the Los Angeles Times reports.
A UPS hub in Louisville, Ky., was the crunch point for the surge in orders that failed to make it on time for Christmas, the Wall Street Journal reports.
Thanks to a technical error, some consumers on Thursday were able to land round-trip tickets on Delta Air Lines for under $50, which the carrier said it will honor, CNBC reports.
President Barack Obama on Thursday signed a compromise budget that reduces the risk of another government shutdown for at least two years, Reuters reports.
Medicare rules have encouraged for-profit hospice companies to seek out healthier patients who are more profitable because they require fewer visits and stay enrolled longer, the Washington Post reports.
Fueled by politicians doling out generous tax breaks, filmmaking talent is migrating to where the money is. The result is an incentives arms race that pits California against governments around the world, the Associated Press says in a special report.
Among the nation’s billionaires, one of the most sought-after pieces of real estate now is a quiet storefront in Sioux Falls, South Dakota, where little more than renting an address is required to take advantage of the state's tax-friendly trust laws, Bloomberg News reports.
McDonald's Corp. has pulled the plug on "McResource," an informational and budget-assistance website for employees that became a target of derision by a group seeking higher pay for hourly workers, the Wall Street Journal reports.
Computers running Windows XP are about to become a ticking time bomb, with the end of Microsoft support for the aging operating system next April, experts tell PC Pro.
PC giant Lenovo, also the second-largest smartphone brand in China, now wants to push into the United States and other wealthy markets next year, the New York Times reports.
Time sorts out what's fact and what's fiction in Martin Scorsese's glitzy new film about a real-life scammer.
In Friday morning trading, the Dow Jones industrial average was down 2 points to 16,478. The Nasdaq fell 6 points to 4,161. The S&P 500 fell less than 1 point to 1,841.
Thursday, December 26
Noted Hollywood publicist Julian Myers, who represented stars such as Marilyn Monroe and Judy Garland, has passed away. He was 95.
Gelson’s Markets parent Arden Group Inc. has announced it will be acquired by investment firm TPG in a deal valued at $394 million.
The annual compensation package for Walt Disney Co. Chief Executive Robert Iger dropped 15 percent in the last fiscal year, the company said in a regulatory filing this week.
CBRE Group Inc. has completed its acquisition of Norland Managed Services, which provides technical engineering services for commercial buildings in the United Kingdom and Ireland.
Glendale's PS Business Parks Inc. has acquired the Bayshore Corporate Center in San Mateo for $60.5 million.
In Thursday trading, the Dow Jones industrial average closed up 122 points to 16,480. The Nasdaq rose 12 points to 4,167. The S&P 500 rose 9 points to 1,842. The LABJ Stock Index rose more than 1 point to 180.
A late surge in online shopping this holiday season left stores breaking promises to deliver packages by Christmas, the Wall Street Journal reports, suggesting that retailers and shipping companies still haven't fully figured out consumers' buying patterns in the Internet era.
Los Angeles County Transportation officials plan to put on the ballot a measure that either would raise the county's sales tax by half a cent or extend the life of Measure R, the levy voters approved in 2008, the Los Angeles Times reports.
North Hollywood Toyota, known for its eye-catching mannequins along the 134 Freeway for more than two decades, is getting a $10 million makeover that includes a unique pedestrian bridge, the Los Angeles Daily News reports.
Over the objections of critics, the Los Angeles Department of Water and Power is moving ahead with plans to build a $680-million 200-megawatt solar energy plant within view of this desolate Eastern Sierra site that was a Japanese American internment camp during World War II, the Los Angeles Times reports.
About 222,000 Californians will be dropped from the state's unemployment insurance rolls Saturday in what is shaping up to be a rough start to 2014 for the nation's long-term jobless, the Los Angeles Times reports.
Fueled by incentives, total vehicle sales this month are expected to be up at least 4 percent year over year, with the auto industry anticipating all-time record consumer spending on new vehicles, CNBC reports.
U.S. holiday sales rose 2.3 percent, flying in the face of predictions of the worst season in years, Reuters reports.
The Los Angeles Times profiles an expanding web of brokers, tax attorneys, financial planners and consultants who help filmmakers exploit the patchwork of state programs to attract film and TV production.
DirecTV has quietly started distributing a network called WeatherNation just as its deal to carry the Weather Channel is set to expire, the Los Angeles Times reports.
Plug-in electric cars may be cutting-edge technology, but an analysis suggests that most will depreciate more dramatically over five years than their conventional counterparts, USA Today reports.
In Thursday morning trading, the Dow Jones industrial average was up 55 points to 16,412. The Nasdaq rose 10 points to 4,166. The S&P 500 rose 5 points to 1,838.
Monday, December 23
Printing: Superior Press changes checks when lenders merge or are acquired.
Printing – Superior Press has built up a lengthy paper trail redoing checks for acquired and merged banks
Technology: FTC alleges Lin Miao ran ‘cram’ bill scam.
Internet – Cellphone scam allegations could trip up tech incubator founder’s businesses.
HealthCare: CHA to help Parexel line up patients for clients’ drug trials.
CHA Hollywood Presbyterian Medical Center has formed a partnership with a company that helps drug companies run their clinical trials
Special Report Year In Review: Biotech sector booms; markets bloom
It was the year of the biotech bonanza in Los Angeles. Of this year’s top five share-price gainers on the LABJ Stock Index, three were from that sector, led by Westwood’s Puma Biotechnology Inc.
Tom Gores’ firm Platinum Equity may be best known as one of L.A.’s most prominent buyout shops, but it’s also become an academy of sorts – many associates have graduated to start their own private equ
Investment – Working at Platinum Equity has paid dividends for former execs who launched their own firms
Last week’s major news from labusinessjournal.com and other sources
Rejected: Los Angeles County Superior Court Judge Allan J. Goodman tentatively ruled that the Los Angeles City Council did not comply with the state’s environmental law when it approved an update to the Hollywood Community Plan that allows larger buildings in certain areas, particularly near transit stops.
Expansion: O.C.’s RAJ chooses Santa Fe Springs for new factory and office.
In another step on the long march toward repatriating American manufacturing jobs, Tustin swimwear maker RAJ Manufacturing has just opened a factory in Santa Fe Springs.
Biotech: ImmunoCellular shares fall after missing goal of extending patients’ lives.
Biotech – ImmunoCellular Therapeutics comes up short on Wall Street after company’s drug misses longevity goal
Real Estate: CBRE buys maker of software that calculates property expenses.
Real Estate – CBRE builds up consulting business with pickup of company that tallies property unkeep costs.
Real Estate: Property in Beverly Hills pitched for hotel-condo development.
Real Estate – Price for Beverly Hills lot could step into the history books as L.A.’s biggest on a per-foot basis
Dining – John Tu feeds Chinese investors’ immigration hopes by helping them set up Italian eateries.
TV – Crown Media shareholders fear they won’t be receiving the very best if Hallmark Cards takes the company private.
Marketing: Mach 18 says firm swiped idea to reach riders.
Marketing – Mach 18 alleges it was steered wrong by a prospective contractor over a plan to reach riders in self-driving cars.
Aerospace: Analysts see Ducommun shares rising to appropriate height.
Aerospace – Ducommun shares climb in what some analysts see as a bounce-back from too steep of a dip.
News and notes from communities across Los Angeles County
Lease Deal: Cigna Corp., a Bloomfield, Conn.-based health care insurer, has agreed to a six-year extension of its lease in Glendale in a deal estimated at $11.5 million.
Bed of Nails hopes to prick interest of more than just hippies with its product.
Health Care – Bed of Nails’ Carina Tannenberg says customers shouldn’t be afraid to poke around her spiky mats.
Sydney Chase quit her job to found business making water-blanketing spheres.
Manufacturing – Sydney Chase didn’t hesitate to dive into making shade balls that cover the water in reservoirs
Acquisitions – Platinum alumni look to sink their hooks into the equity scene by diving into seafood businesses.
At least 10 private equity and financial consulting firms in Los Angeles and three others elsewhere were founded by money men who left Beverly Hills firm Platinum Equity. The Business Journal found th
A chart of Platinum veterans who struck out of their own.
Friday, December 20
L.A. County’s unemployment rate dropped to 9.5 percent in November, its lowest point in five years, according to state figures released Friday. The county also created 33,000 payroll jobs, many of those in seasonal retail hires.
Century City’s OpenGate Capital said Friday that it had won a bid to take over bankrupt European plastics manufacturer Kem One SAS, its third deal in the European plastics market this year.
The Los Angeles Business Journal’s index of largest local public companies closed up for the week.
In Friday trading, the Dow Jones industrial average closed up 42 points to 16,221. The Nasdaq rose 46 points to 4,105. The S&P 500 rose 9 points to 1,818. The LABJ Stock Index rose 1 point to 177.
In the latest casualty of Hollywood's march to digital technology, Technicolor Inc., the French-owned film processing and post-production company, has closed its film lab in Glendale less than three years after its opening, the Los Angeles Times reports.
Boeing Co. won its first Asia order for the new 777X jet from Cathay Pacific Airways Ltd. today, Bloomberg News reports. Cathay, Asia’s top international carrier, will acquire 21 of the planes for $7.5 billion and fly them to North America and Europe.
Hundreds of thousands of people whose health plans are being canceled because their coverage doesn’t meet Obamacare rules will be exempt next year from the U.S. mandate that all Americans carry medical insurance, Bloomberg News reports.
BlackBerry reported a $4.4 billion loss and a 56 percent drop in revenue for its fiscal third quarter on Friday and said it would step back from its handset business, the New York Times reports.
Rep. Henry A. Waxman expressing concern about the future of the Los Angeles Times, is asking Tribune Co. executives to explain the company's move to spin off its newspaper operations into a separate company, the Los Angeles Times reports.
The Target data breach affecting 40 million credit and debit cards stems back to Nov. 27, two days before Black Friday. So why did it take so long to come out? Blame protocol, CNBC reports.
Agreements with American Express, MasterCard and Visa have cleared the way for vendors to institute a two-tier pricing for shoppers, the New York Times reports.
The U.S. is producing so much natural gas that it should bulk up its exports, oilman Harold Hamm told CNBC.
Charter Communications' acquisition overtures to Time Warner Cable spotlight the two companies' leaders, the Wall Street Journal reports. One rose through the ranks in the industry, and one came in with skills as a deal maker.
Reality TV got a little too real for A&E this week when the patriarch of hit show Duck Dynasty made comments to a reporter about gays that shouldn't be a shock to those who follow his onscreen persona, the Los Angeles Times says. The network suspended him, but what happens now?
In Friday morning trading, the Dow Jones industrial average was up 76 points to 16,255. The Nasdaq rose 35 points to 4,093. The S&P 500 rose 10 points to 1,819.
Thursday, December 19
A group of 21 scientists from around the country has told Gov. Jerry Brown that California is on the right track with proposed regulations to allow fracking of the state's shale oil reserves.
Frederick's of Hollywood Group Inc. on Thursday said that its board has accepted an offer to be taken private by a group led by its largest shareholder.
Shares of KB Home fell 6 percent after the homebuilder announced lower-than-expected fourth quarter revenue and earnings per share.
In Thursday trading, the Dow Jones industrial average closed up 11 points to 16,179. The Nasdaq fell 12 points to 4,058. The S&P 500 fell 1 point to 1,809. The LABJ Stock Index rose less than 1 point to 176.
West Hollywood’s MyLingo announced Thursday it has raised $750,000 in seed funding from unnamed angel investors.
Target says that about 40 million credit and debit card accounts may have been affected by a data breach that occurred just as the holiday shopping season shifted into high gear, USA Today reports.
The Federal Communications Commission wants to eliminate its almost 40-year-old sports blackout rules, which serve primarily to prevent NFL games being televised in markets where the home team failed to sell out the stadium, the Los Angeles Times reports.
Lions Gate’s board has declared the company’s first quarterly cash dividend, in the wake of the success of the second film in its "Hunger Games' franchise, Variety reports.
Essex Property Trust Inc. will buy BRE Properties Inc. for about $4.3 billion, combining two real estate companies focused on the West Coast market, the Wall Street Journal reports.
Chocolate giant Hershey Co. is buying Chinese candy maker Shanghai Golden Monkey Food Joint Stock Co. in a nearly $600 million bid for a stronger hold on one of the world's fastest-growing markets for sweets, Bloomberg News reports.
Even with stocks surging to record highs, traders see upside for the market into year end and are looking for a 'Santa rally' to provide some of the lift, CNBC reports.
Facebook Inc. founder and Chief Executive Mark Zuckerberg will sell 41.4 million shares worth about $2.3 billion to pay a tax bill, as part of a 70 million-share offering by the social network, Reuters reports.
Herbalife's stock has surged 130 percent this year as the firm posted growing profits and won a key legal case, deflecting bets by activist investor Bill Ackman that it would fail, the Los Angeles Times reports.
Lawrence O. Kitchen, the business-savvy ex-Marine who ran Lockheed Corp. in an era when the aerospace industry was dominated by scientists and engineers, died Sunday in Woodland Hills, the Los Angeles Times reports. He was 90.
The number of people who bought existing homes in November declined for the third straight month, as higher mortgage rates have made home-buying more expensive, the Associated Press reports.
State Treasurer Bill Lockyer, who announced he will not seek another elected office next year and will leave his current office in January 2015, already has taken a side gig as “of counsel” to a Boston law firm, the Los Angeles Times reports.
The state’s Department of Toxic Substances Control has issued an emergency order directing a Vernon battery recycler to clean up lead and other metals that have been deposited near the Exide Technologies plant, the Los Angeles Times reports.
Companies usually keep a low profile when the Securities and Exchange Commission investigates them. Wall Street broker Robert DePalo decided to sue, Bloomberg News reports.
You probably have never heard of LaserShip Inc. or OnTrac. Yet these small regional shippers may well have dropped a package off at a customer’s doorstep this holiday season — and that has UPS and FexEx worried, the Wall Street Journal reports.
Holiday shopping has customers falling ill — from discount fatigue, USA Today reports. Bombarded with daily e-mails from retailers and bored by blanket offers of 40 percent off, shoppers are tuning out.
In Thursday morning trading, the Dow Jones industrial average was down 21 points to 16,146. The Nasdaq fell 12 points to 4,058. The S&P 500 fell 5 points to 1,805.
Wednesday, December 18
Thomas Properties Group Inc. announced that its stockholders have approved its merger with Parkway Properties Inc., which is expected to close on Thursday.
Arrowhead Research Corp. late Wednesday reported a narrower fourth quarter loss, largely due to the Pasadena biotech having more shares outstanding than a year earlier.
Rexford Industrial Realty Inc. on Wednesday said that it has added to its fast-growing Valley portfolio with a nearly $16 million purchase in Simi Valley.
In Wednesday trading, the Dow Jones industrial average closed up 292 points, or 2 percent, to 16,168. The Nasdaq rose 46 points, or 1 percent, to 4,070. The S&P 500 rose 30 points, or more than 1 percent, to 1,810. The LABJ Stock Index rose 3 points, or more than 1 percent, to 176.
William Morris Endeavor Entertainment agreed to buy rival talent and marketing agency IMG Worldwide in a deal that will give WME a boost in the lucrative sports representation and sponsorship business, the Hollywood Reporter says. The Wall Street Journal reports that the deal value was expected to be about $2.4 billion.
The politically powerful head of the Los Angeles Department of Water and Power's largest union has refused to cooperate with an audit of two nonprofit trusts established to improve relations between management and labor at the city-owned utility, the Los Angeles Times reports.
China’s biggest Bitcoin exchange was forced to stop accepting deposits in the Chinese currency on Wednesday, sending the price of the virtual money tumbling in one of its biggest markets, the New York Times reports.
Adding to consumer confusion ahead of a major enrollment deadline, Covered California sent flawed eligibility notices to nearly 114,000 households due to a computer error, the Los Angeles Times reports.
The outcome of today's Federal Reserve meeting is expected to set the tone for trade in the U.S. dollar heading into 2014, whatever decision is reached on the highly-anticipated tapering of monetary stimulus, CNBC reports.
Lead paint makers suffered a landmark defeat this week when a state court judge in San Jose ordered the industry to create a $1.1 billion fund to eliminate lead hazards to children in hundreds of thousands of homes in the state, the Los Angeles Daily News reports.
U.S. builders broke ground on homes last month at the fastest pace in more than five years, which the Associated Press reports may be strong evidence that the housing recovery is accelerating despite higher mortgage rates. But CNBC reports that the rate increase likely contributed to mortgage applications falling 5.5 percent in the past week, to the lowest level in more than 12 years.
The Los Angeles City Council on Tuesday confirmed former Councilwoman Jan Perry's appointment as head of a new agency charged with spurring business activity and employment in the city, the Los Angeles Times reports.
AMC Entertainment Holdings Inc., the U.S. movie-theater chain controlled by China’s second-richest man, jumped in its trading debut after raising about $332 million in its return to the public markets after nine years, Bloomberg News reports.
The often-ridiculed Harold Camping didn't live to see the end of the world, the Los Angeles Times reports. The Oakland radio preacher, who died Sunday, drew international attention when he more than once predicted — most famously in 2011 — the precise date of the Rapture and then had to concede his error.
From Al Jazeera America to Washington, D.C.'s biggest construction project in two decades, the tiny, rich nation o0f Qatar is bullish on investing in the United States. The Washington Post looks at possible reasons why.
In Wednesday morning trading, the Dow Jones industrial average was up 41 points to 15,916. The Nasdaq fell 7 points to 4,017. The S&P 500 fell 1 point to 1,782.
Tuesday, December 17
Local startups have just been handed a bit of holiday cheer: the state will no longer require security deposits for new businesses in most cases and will refund about $300 million in deposits it’s now holding.
CBRE Group Inc. said Tuesday that it has acquired Whitestone Research Corp., a Santa Barbara consulting and software company that provides real estate-related products and services.
Cargo volume at the Port of Long Beach climbed 2.5 percent in November, compared to the same month last year, according to figures released Monday.
OpenGate Capital said that it signed an agreement with Belgian chemicals company Solvay to acquire its Benvic PVC plastic compounding business.
In Tuesday trading, the Dow Jones industrial average closed down 9 points to 15,875. The Nasdaq fell 6 points to 4,024. The S&P 500 fell 6 points to 1,781. The LABJ Stock Index fell less than 1 point to 173.
Bob and Harvey Weinstein, who founded Miramax but left in a 2005 split with its then-owner, Walt Disney, have signed a deal to make films and TV shows based on the studio’s library, now held by a consortium led by Colony Capital, the Los Angeles Times reports.
Wall Street is now expecting the reduction in Fed stimulus to the economy to come in February, according to a CNBC survey of market experts.
A federal judge has for the first time ruled that the National Security Agency's once-secret policy of collecting the dialing records of all phone calls in the country probably violates the Constitution, the Los Angeles Times reports.
Facebook Inc. said it would begin selling video advertisements later this week, a move that may help the social-networking giant capture a share of the annual $66.4 billion TV advertising market, the Wall Street Journal reports.
Billionaire environmentalist Tom Steyer says he will launch a campaign next year urging California lawmakers to approve taxes on companies that extract oil in the state, the Associated Press reports. Oil companies have successfully blocked such fees in the past.
GlaxoSmithKline will no longer pay doctors to promote its products and will stop tying compensation of sales representatives to the number of prescriptions doctors write, ending practices criticized for creating conflicts of interest, the New York Times reports.
IM Global has hired former Exclusive Media executive Matt Jackson as its president of production, the Wrap reports. Jackson, produced “Parkland” and “End of Watch,” will oversee all development and production at the company.
Target said Monday that will not sell Beyonce’s new album because she released it online first, Variety reports. The retailer argues that when a new album is available digitally before it is available physically, it impacts demand and sales projections.
Global cocoa supplies are headed for the longest production shortfall in more than five decades as chocolate demand surges in Asia and droughts in cocoa-producing regions hurt harvests, Bloomberg News reports.
How do you keep your brand relevant in today's "always on" environment? AdAge talks to executives who say it means acting more like a startup, not only busting down silos at your company, but also reinventing your job.
In Tuesday morning trading, the Dow Jones industrial average was down 40 points to 15,848. The Nasdaq fell 14 points to 4,016. The S&P 500 fell 8 points to 1,779.
Monday, December 16
Shares of Herbalife Ltd. rose more than 9 percent on Monday after the nutritional supplement company said a re-audit of more than three years of its financial results found no material changes to earlier statements.
Traffic at the Port of Los Angeles increased 17 percent in November compared to the same month last year, according to figures released Monday.
Health care insurer Cigna Corp. has agreed to a six year extension of its lease in Glendale in a deal with an estimated value of $11.5 million.
In Monday trading, the Dow Jones industrial average closed up 129 points to 15,885. The Nasdaq rose 29 points to 4,029. The S&P 500 rose 11 points to 1,787. The LABJ Stock Index rose 1 point to 174.
The free app is in beta and has a few rudimentary workout regimens built-in.
American International Group Inc. will sell its stake in Century City's International Lease Finance Corp to aircraft-leasing company AerCap Holdings for $5.4 billion in cash and stock, the Wall Street Journal reports.
Koreatown's Hanmi Financial has agreed to buy Central Bancorp in Garland, Texas, American Banker reports.
After six years of a gloomy recession and shaky recovery, the U.S. economy looks poised to regain its glow next year with stronger job growth, bigger income gains and a resurgence of home sales, the Los Angeles Times reports.
From the NSA and China to Google and Facebook, one of the big lessons of 2013 is that anyone who can watch you will watch you. Hot new social apps such as Snapchat, Whisper and Telegram appear to offer a more private alternative ¬ until you read the fine print, the New York Times reports.
USC President C. L. Max Nikias was the 13th-highest compensated private university president in 2011, making nearly $1.4 million in total pay, the Los Angeles Times reports.
Tesla Motors plans to unveil an electric car in early 2015 that could sell in the $40,000 range, a mainstream offering that could be key to the automaker's future growth, the Los Angeles Times reports.
L.A. metal service center operator Reliance Steel, which saw a 39 percent revenue drop to $5.3 billion in 2009, is expecting about $10 billion in sales this year, the Los Angeles Times reports in a company profile.
Households within a half-mile of an Expo Line station reduced their driving by 10 to 12 miles a day, compared with those who lived farther away, the Los Angeles Times reports.
Trade industry leaders have launched a pilot program that could change the way trucks and terminals operate at the ports of Los Angeles and Long Beach, the Long Beach Press-Telegram reports.
Armed with increasingly sophisticated price-tracking tools on their smartphones, more shoppers are taking the art of bargaining to stores selling cashmere or leather boots, and retailers are accepting this trend, the New York Times reports.
The SAG health plan has taken a first step to improve eligibility for performers, starting in July, as part of ongoing efforts to merge the SAG plan with the AFTRA plan, Variety reports.
Bond investors are showing the most confidence in corporate America since the financial crisis, underscoring expectations that the U.S. economy will keep rolling as the Federal Reserve prepares to trim monetary stimulus, the Wall Street Journal reports.
Rather than tout big new investments, raise worker wages or hire more employees, companies these days are more likely to set aside funds to reward shareholders — a trend that took a dip during the recession but has roared back during the recovery, the Washington Post reports.
The hunger for gluten-free foods has become a headache for restaurant chains, as they struggle to produce dishes that meet strict requirements from customers and government regulators, the Wall Street Journal reports.
In Monday morning trading, the Dow Jones industrial average was up 137 points to 15,893. The Nasdaq rose 27 points to 4,028. The S&P 500 rose 12 points to 1,787.
Sports: Clippers’ marketing promotion leads to fan crying foul over text spam.
Sports: Clippers face net loss as a fan files for a class-action suit over spam texts received after a game promotion.
Duo turned to lawsuit to secure proper permit for annual holiday festivity.
Law: High-profile attorneys to party on after filing lawsuit over street access for their annual holiday shindig.
When Lew Feldman, chairman of law firm Goodwin Procter’s L.A. office, sat down with Westfield Group co-Chief Executive Peter Lowy last month for a real estate symposium talk in downtown Los Angeles, it was more than the usual highbrow market discussion,
Moved In: APC Postal Logistics, an East Rutherford, N.J.-based international parcel and mail delivery company, has opened a West Coast facility in Bell.
Real Estate: Hines shells out $506 million for Howard Hughes Center.
Real Estate: Hines’ $506 million deal for the Howard Hughes Center shows L.A.’s market can be an asset for outside investors.
Film: Lions Gate shares fall despite sequel piling up dough at box office.
Film: Shares fall for “Hunger Games” producer Lions Gate despite “Catching Fire” sequel’s heat at box office.
Representation: New hires at APA take role in handling crew workers.
Talent agency APA of Beverly Hills has quickly built a new business this year – representing below-the-line TV and film workers.
Lending: South Korean bank wins court round on use of ‘Hana.’
In Japanese it means “flower.” In Korean, it translates as “No. 1” or “first.”
Local Deal: Leonard Green & Partners, a Westwood private equity firm that already has investments in apparel retailers J. Crew and Topshop, has signed a deal to acquire downtown L.A.’s Lucky Brand Jeans from Fifth & Pacific Cos. of New York for $225 million
Sale: Developer pays $44 million for 39 acres of undeveloped property.
In the largest land deal in central Los Angeles in more than a decade, the city of Bell has sold 39 acres of undeveloped property along the 710 freeway to Long Beach developer Pacific Industrial for more than $44 million.
Biotech: Puma shares soar after cancer treatment surpasses expectations.
Biotech: Investors went on the prowl for Puma stock after its cancer treatment drug surpassed test expectations.
Security: Questions over Chinese parts cost OSI contract.
Security: OSI baggage-scanner contract falls to pieces over concern for the machines’ use of a Chinese-made part.
Real Estate: MSM opens China office to court homebuyers.
Real Estate: MSM Luxury Estates has homed in on Hangzhou to line up Chinese buyers for pricey L.A. residences.
Jewish stores give way to burger places, hip-hop shops
Retail: Burger and streetwear shops in the Fairfax district have pulled up rents and pushed out some of the area’s Jewish merchants
SPECIAL REPORT: Eight Over 80
L.A. business leader Eli Broad turned 80 this year, but the milestone birthday hasn’t slowed him down: He still puts in 60 hours a week.
SPECIAL REPORT: Eight Over 80
L.A. business leader Eli Broad turned 80 this year, but the milestone birthday hasn’t slowed him down: He still puts in 60 hours a week.
SPECIAL REPORT: Eight Over 80
Elaine Lazar still lives the same way she did as a girl. In her words: “I tried everything that seemed reasonable and didn’t ask anyone’s permission. I still feel that way today.”
OP-ED: Clearing streets of congestion might include placing curbs on developers and trucking industry.
Transportation: Angelenos can’t steer clear of tough choices if they want to ease traffic, write Richard J. Riordan and Tim Rutten.
Entertainment: Ed Krayewski finds little merit in modest arguments for condom use in porn productions.
Virtual Piggy’s hackathon restricts competitors to teenagers or younger.
Technology: Virtual Piggy goes whole hog on app creation contest only for youths.
INTERNET: Telecom giant snaps up EdgeCast to move deeper into mobile.
Verizon dials up deal to acquire content delivery network operator EdgeCast
INTERNET: Snapchat pulls in $50 million from fund that rarely backs tech.
Temporary message app Snapchat connects with surprise investor to raise $50 million.
VIDEO GAMES: Riot axes streaming restrictions after bad feedback on Internet.
Video game makers have been pushing hard for professional gaming to be considered a legitimate sport – few companies harder than Santa Monica’s Riot Games Inc.
Is Occidental Petroleum Corp., L.A.’s second largest public company, planning to move its corporate headquarters to Houston? There are signs it could do so.
Since driverless cars are coming, maybe there’s no need to worry about freeway congestion anymore, Charles Crumpley writes
Friday, December 13
Chinese electric vehicle manufacturer BYD Co. Ltd. held a press conference on Friday to further defend itself from allegations it did not comply with minimum wage laws for engineers working at its Lancaster plant and North American headquarters in downtown Los Angeles.
Jacobs Engineering Group Inc. in Pasadena said Friday that it completed its $1.1 billion acquisition of Australian professional services firm Sinclair Knight Merz.
A moratorium on adult film production in the Los Angeles area was lifted Friday after tests were completed on partners of an adult performer who tested positive for HIV.
The Los Angeles Business Journal’s index of largest local public companies closed down for the week.
In Friday trading, the Dow Jones industrial average closed up 16 points to 15,755. The Nasdaq rose nearly 3 points to 4,001. The S&P 500 fell less than 1 point to 1,775. The LABJ Stock Index fell less than 1 point to 173.
The company said Friday it has promoted Ron Burr, formerly the company’s chief revenue officer. He replaces CallFire co-founder Dinesh Ravishanker, who has left the company.
Publisher Freedom Communications of Santa Ana will launch a daily newspaper next year called the Los Angeles Register that will compete with the Los Angeles Times, the Business Journal reports.
The Proud Bird, a historic LAX-area restaurant that was threatened with closure, will remain open for at least another year under a temporary lease from the Los Angeles World Airports, the Los Angeles Times reports.
Former Bell city manager Robert Rizzo, who claimed more than $770,000 in fraudulent losses, has agreed to cooperate with federal authorities, the Los Angeles Times reports. He already is facing 10 to 12 years in prison for his role in the city's corruption scandal.
A Boeing workforce reduction, part of a companywide restructuring, will affect the company’s sites in the South Bay and Orange County, the Los Angeles Times reports. Meanwhile, Machinist union leaders on Thursday rejected an offer from Boeing that would have helped keep production of the new 777X jetliner in Washington state, Reuters reports.
The Federal Communications Commission voted 3-2 Thursday to consider lifting its ban on in-flight cell phone use, CNN/Money reports.
A bipartisan budget pact has cleared the House of Representatives and is in the hands of the Senate, where it will encounter stronger resistance from Republicans, the Associated Press reports.
Facebook Inc.'s Instagram app is launching a photo- and video-messaging service, Instagram Direct, soon after a competing popular mobile app, Snapchat, spurned a $3 billion offer from the social network, the Wall Street Journal reports.
A Los Angeles employee relations officer delivered a stinging defeat to the city's labor leaders Thursday, saying that they failed to meet a procedural deadline for challenging a hotly contested rollback in public employee pension benefits, the Los Angeles Times reports.
A Field Poll says public support for labor unions has plunged in California, with more voters for the first time saying they do more harm than good, the Sacramento Bee reports.
When Blackstone took Hilton private in 2007 for $26 billion, it appeared to have been badly mistimed. But through a combination of luck, smart financial engineering and disciplined management, the firm increased the value of its investment by nearly $10 billion, the New York Times reports,
Charter Communications Inc. is preparing an offer letter to acquire Time Warner Cable Inc. for less than $140 a share, Bloomberg News reports.
DirecTV is exploring the idea of an online video service that would appeal to "price-sensitive" young people or other customers who have dropped their pay-TV service, the Wall Street Journal reports.
Netflix today will reveal a snapshot of a phenomenon that is reshaping TV culture — viewers devouring shows in long jags, episode after episode, the Wall Street Journal reports. In general, the study indicates, about half the viewers studied finished a season (up to 22 episodes) within one week.
Garden Grove's Earth Friendly Products is capitalizing on increasing consumer interest in non-toxic cleaning products, the Los Angeles Times reports.
With download sales cooling after a decade of growth, streaming such as Spotify, Pandora and Apple’s new iTunes Radio have the potential to transform the industry’s financial model by charging to listen, the New York Times reports.
With the continued explosion of Internet shopping this holiday season, retailers need to stop thinking about consumers buying either online or in the stores. It's now both, CNBC reports.
In Friday morning trading, the Dow Jones industrial average was up 5 points to 15,744. The Nasdaq rose less than 1 point to 3,999. The S&P 500 fell 1 point to 1,774.
Thursday, December 12
Newspaper publisher Freedom Communications of Santa Ana will launch a daily newspaper next year called the Los Angeles Register that will compete with the Los Angeles Times.
TCP Capital Corp. late Thursday said that it has commenced a public offering of 3.75 million shares of its common stock, proceeds of which will be used to pay down its revolving credit facility.
Tutor Perini Corp. announced Thursday a subsidiary has won a $510 million contract at the Hudson Yards mixed use development in downtown New York City.
In Thursday trading, the Dow Jones industrial average closed down 104 points to 15,739. The Nasdaq fell 5 points to 3,998. The S&P 500 fell 7 points to 1,775. The LABJ Stock Index fell 1 point to 173.
Abhishek Agrawal, who heads Vulcan’s growth equity investments, will join TrueCar’s board.
A Los Angeles County Superior Court has dealt a major blow to efforts to spur larger development in parts of Hollywood, ruling that a zoning plan for the area was "fatally flawed" and should be repealed, the Los Angeles Times reports.
Hilton Worldwide Holdings Inc., the world's largest hotel group, has raised $2.35 billion in its return to Wall Street, surpassing the $2.1 billion generated by Twitter's IPO last month, the Associated Press reports. Shares continued to climb this morning, Bloomberg News reports.
Nearly 365,000 people have signed up for Obamacare in its first two months, and the pace of sign-ups accelerated in November, CNN/Money reports.
Sriracha hot sauce manufacturer Huy Fong Foods cannot ship out any more sauce until mid-January because the California Department of Public Health has begun enforcing stricter guidelines for the company, the Los Angeles Times reports.
The number of Americans filing new claims for unemployment benefits rose sharply last week, reversing the prior three weeks declines, but Reuters says another report ¬ that U.S. retail sales rose solidly in November ¬ clouds the impact of those numbers.
About 1.2 million Californians have exhausted all of their unemployment benefits, and the state Employment Development Department says another wave is fast approaching, the Los Angeles Daily News reports.
Entrepreneur David Sacks and Rising Realty have bought three century-old buildings in Old Pasadena and plan to transform them into a hub for tech start-ups, the Los Angeles Times reports.
Rehab veterans who came under scrutiny for their questionable care practices at an A-list Hollywood Hills addiction treatment center, are looking to raise $500,000 for a "sober club with restaurant, games, music & fun," the Hollywood Reporter says.
The Sheraton Gateway Los Angeles Hotel, a 15-story inn next to Los Angeles International Airport, has been sold for $96 million to a Chinese real estate developer, the Los Angeles Times reports.
PepsiCo is to announce on Thursday that it is unseating Coca-Cola as the beverage supplier to one of the nation’s hottest restaurant chains, Buffalo Wild Wings, the New York Times reports.
JPMorgan Chase is expected to pay more than $1 billion to the Justice Department to end a probe into whether it provided adequate warnings about Bernard L. Madoff, the Wall Street Journal reports.
The Hollywood Reporter interviews media mogul Oprah Winfrey as part of its 2013 Women in Entertainment Power 100 event.
In Thursday morning trading, the Dow Jones industrial average was down 61 points to 15,782. The Nasdaq rose 6 points to 4,010. The S&P 500 fell 2 points to 1,780.
Wednesday, December 11
Mike Burke will take over in March as chief executive of downtown L.A. engineering and technical services firm Aecom Technology Corp., the company announced Wednesday.
Classic hip-hop station KDAY (93.5) of Redondo Beach has been sold to Meruelo Media of Los Angeles, the company announced Wednesday, and will retain its format.
Rexford Industrial Realty Inc. on Wednesday said that it has acquired Bonita Thompson Industrial Park, a 16.3-acre industrial complex in Pomona.
Salem Communications Inc. has acquired the Twitter compilation site Twitchy.com from politically conservative author and columnist Michelle Malkin.
In Wednesday trading, the Dow Jones industrial average closed down 130 points, or 1 percent, to 15,844. The Nasdaq fell 57 points, or 1 percent, to 4,004. The S&P 500 fell 20 points, or 1 percent, to 1,782. The LABJ Stock Index fell more than 2 points, or 1 percent, to 174.
Snapchat, the Venice messaging startup, has filed documents with the Securities and Exchange Commission saying it has raised another $50 million.
U.S. regulators have taken a major step toward reining in high-risk trading on Wall Street by putting restrictions on trading by big banks for their own profit, the Associated Press reports. The New York Times describes the process that put the brakes on those trades.
A bipartisan budget deal announced in the U.S. Congress would end three years of impasse and fiscal instability in Washington if it breaks through Conservative opposition over added spending, Reuters reports.
California officially joined a nationwide sweepstakes to woo aerospace giant Boeing Co. to build the next-generation 777X airliner in the state, the Los Angeles Times reports.
Walt Disney Co. may quickly enlarge its Shanghai resort after it opens in late 2015 in order to meet rising demand in the world’s most populous country, Bloomberg News reports.
With financial support from Google, SpaceX and other tech companies, the Los Angeles County Museum of Art unveiled plans for the Art + Technology Lab, which will provide grants and lab space to artists who want to experiment with new technologies, the Los Angeles Times reports.
A Bel Air estate owned by Dole Foods Co. Chief Executive David H. Murdock is listed for $30 million, the Wall Street Journal reports.
Thanks to a shift in how investors view the industry, hedge fund managers are attracting new money and preparing expansion plans even though their performance has fallen behind roaring equity markets this year, CNBC reports.
The road to Oscar gold began in earnest early this morning with the nominations for the 20th Screen Actors Guild Awards, the Los Angeles Times reports.
Plan B Entertainment's production deal with New Regency and RatPac Entertainment precipitates the departure of Brad Pitt's company from Paramount Pictures at the end of the year, the Los Angeles Times reports.
Discovery Communications Inc. is considering a bid for Food Network majority owner Scripps Networks Interactive Inc., signaling that a consolidation wave among television channel owners may be on its way, the Wall Street Journal reports.
PennySaver USA has hired newspaper veteran Liz Gaier as its new chief executive, the Orange County Business Journal reports. Los Angeles buyout firm OpenGate Capital LLC acquired the company from San Antonio-based Harte-Hanks Inc. in September.
Kathy Thomson, the former president and chief operating officer of the Los Angeles Times Media Group, has been hired as chief marketing officer and executive vice president at satellite radio service Sirius XM Holdings Inc., Southern California Public Radio reports.
Since the "Anchorman 2" movie was announced more than a year and a half ago, there's been a museum exhibit, commercials, a book, a mobile game, TV cameos and the renaming of a college. Bloomberg BusinessWeek looks at how the Ron Burgundy is reinventing how to promote a movie.
In Wednesday morning trading, the Dow Jones industrial average was down 51 points to 15,922. The Nasdaq fell 19 points to 4,041. The S&P 500 fell 8 points to 1,794.
Tuesday, December 10
Leonard Green & Partners, the Westwood private equity firm that already has investments in retailers J. Crew and London’s Topshop, is getting deeper into denim, planning to buy Lucky Brand Jeans from New York’s publicly traded Fifth & Pacific Cos. for $225 million.
Platinum Equity on Tuesday said that it has agreed to acquire Volvo Rents from Sweden’s Volvo Group in a deal valued at $1.1 billion.
The Los Angeles Convention Center has a new management team focused on increasingly profitability at the Downtown Los Angeles venue, operator AEG Facilities announced Tuesday.
ValueClick Inc. announced late Monday that it has agreed to sell all of its websites to IAC/Interactive Corp., the New York digital media company run by Barry Diller.
Los Angeles plastic pipe maker JM Eagle Manufacturing Co. has accused lawyers in a successful whistleblower case against it of making false and defamatory statements after a jury returned a verdict against the company and its former parent company, Formosa Plastics Corp. USA.
Russ Reid, founder of direct marketing firm Russ Reid in Pasadena, died Dec. 7 at his home in Sierra Madre. He was 82 years old.
In Tuesday trading, the Dow Jones industrial average closed down 52 points to 15,973. The Nasdaq fell 8 points to 4,060. The S&P 500 fell 6 points to 1,802. The LABJ Stock Index fell less than 1 point to 176.
The Culver City company on Tuesday announced that it has appointed Sean Moriarty to lead the business. He replaces interim chief executive Margo Spiritus.
Santa Monica marketing tech startup Shift is making a push into overseas markets with the help of a $6 million capital infusion from London investor DN Capital.
Drama abounds at Snapchat, the hot photo-sharing app popular among teens, Time reports. The Venice company has filed for a temporary restraining order against ousted cofounder Reggie Brown, who allegedly has been sharing a bit too much with the press, TechCrunch reports.
The Business Journal reports that one in five Los Angeles area employers plan to hire more workers during the first quarter, the best showing in several years, according to a survey released today from Manpower Inc.
Los Angeles Times parent Tribune Co. is moving forward with a public spinoff of its newspaper unit by submitting preliminary paperwork to the Securities and Exchange Commission, the Times reports.
General Motors Co. on Tuesday named Mary Barra its first female chief executive, the Wall Street Journal reports. Also, the U.S. government has sold its last shares of the company from its bailout during the financial crisis.
Despite increasing its stock buyback plans, the Walt Disney Co. -- responsible for some of the biggest entertainment deals in the past decade -- may not be done shopping, Chief Financial Officer Jay Rasulo said at a New York investor conference this morning, the Wrap reports.
Activision Blizzard Chief Executive Bobby Kotick tells the Los Angeles Times that new consoles, such as the Xbox One and PlayStation 4, hold the potential for new types of storytelling for the medium.
Angela Spaccia, former deputy city manager of Bell, was convicted on Monday for her role in the city’s corruption scandal, the Los Angeles Times reports.
With opposition from city unions and facing a tight timeline, two Los Angeles city panels said Monday they wanted more time to study a new three-year marketing and promotional agreement for the Los Angeles Zoo, the Los Angeles Daily News reports.
Legendary Entertainment on Monday said it was expanding its television production capability by acquiring Asylum Entertainment, the company behind the biographical miniseries "The Kennedys,” Variety reports. Asylum will continue to operate as a separate company.
A new Field Poll tracks the increasingly green-friendly attitude of Californians, the Sacramento Bee reports, with 8 percent of voters okay with allowing anyone to purchase cannabis and 47 percent saying it should be available with the types of controls that govern alcohol sales.
Retailers ranging from Sears to Saks have all embraced shipping to compete against Amazon, the Wall Street Journal reports. They are shuttling merchandise store to store, warehouse to store, store to customer — often both quickly and free.
It’s not just low-income shoppers who are pulling back on spending for loved ones and themselves this holiday season, Bloomberg News reports. Wealthy folks are watching their dollars, too.
In Tuesday morning trading, the Dow Jones industrial average was down 22 points to 16,003. The Nasdaq was up less than 1 point to 4,069. The S&P 500 fell 2 points to 1,806.
One in five Los Angeles area employers plan to hire more workers during the first quarter, the best showing in several years, according to a survey released today from Manpower Inc.
Monday, December 9
EdgeCast will function as Verizon’s main provider of content delivery services and is part of the Basking Ridge, N.J. wireless company’s effort to expand its array of digital services.
TYT Network, a multichannel network that airs episodes of political talk show “The Young Turks,” last month moved into a 6,000-square-foot office in Culver City.
Hines Real Estate Investment Trust Inc. of Houston agreed last week to buy the expansive Howard Hughes Center in Marina del Rey for $506 million.
Aecom Technology Corp. has received a contract to resume program management of construction projects planned by the Libyan government's Housing and Infrastructure Board that were suspended during that country’s 2011 revolution.
The Justice Department is taking over a private whistleblower lawsuit against IPC The Hospitalist Co. Inc., alleging the company overbilled the government’s Medicaid and Medicare programs, the department announced Monday.
Walt Mossberg and Kara Swisher, founders of the respected tech news site AllThingsD, reportedly have signed a joint venture with NBCUniversal to create an online news and conference business after they leave News Corp. at the end of the year.
In Monday trading, the Dow Jones industrial average closed up 5 points to 16.026. The Nasdaq rose 5 points to 4,069. The S&P 500 rose 3 points to 1,808. The LABJ Stock Index rose less than 1 point to 177.
California's health exchange has provided insurance agents with names and contact information for tens of thousands of people who went online to check out coverage but didn't ask to be contacted, the Los Angeles Times reports.
Milton Olin Jr., a former chief operating officer of music-sharing site Napster, died Sunday after his bicycle was struck by a police patrol car on Mulholland Highway, the Wrap reports.
Sysco on Monday said it would buy US Foods for about $3.5 billion in stock and cash, uniting two of the biggest food distributors in the country, the New York Times reports.
Fearing that terrorist or criminal networks could use online video games to communicate secretly, move money or plot attacks, American and British spies have infiltrated the fantasy worlds of Activision's World of Warcraft and Linden Lab's Second Life, the New York Times reports.
With the Los Angeles in the midst of a $2-billion transformation of LAX's Tom Bradley International Terminal, airlines that use the facility's old and new gates have been unable to replenish their aircraft with drinking water because of contamination in the building's plumbing, the Los Angeles Times reports.
American Airlines has emerged from bankruptcy protection and US Airways culminated its long pursuit of a merger partner after the two completed their deal Monday to create the world's biggest airline, reports the Associated Press, which also interviewed the company’s new chief executive, Doug Parker.
Google, Facebook and other U.S. technology giants are making a joint appeal to reform government surveillance activities following a stream of disclosures about actions by the National Security Agency, the Wall Street Journal reports.
Consumers are using bitcoins at coffee shops, hotels, online stores and even, in some cases, to run their businesses. The Los Angeles Times reports that every day, dozens more firms are deciding to use the virtual currency.
Billionaire investor Ron Burkle bought a gold medal won by U.S. sprinter Jesse Owens at the 1936 games in Berlin for $1.47 million at auction, a record for an item of Olympic Games memorabilia, Bloomberg News reports.
A forecast from Publicis Groupe's ZenithOptimedia Spin sees positive signs for advertising around the world next year, AdAge reports.
A new survey from Thomson Reuters and Freeman Consulting Services suggests that next year will be a very good one for Wall Street professionals, CNBC reports.
Kids have been photographed on Santa's lap at shopping malls for decades, but in the age of cell phone cameras, parents who snap their own sometime find malls aren't happy about it, Southern California Public Radio reports.
In Monday morning trading, the Dow Jones industrial average was up 9 points to 16,029. The Nasdaq was up 10 points to 4,073. The S&P 500 rose 4 points to 1,809
Left Shoe’s 3-D scanner helps store’s customers step into customized fit
Footwear: Left Shoe steps up its service with a 3-D scanner process that creates a custom fit
Advertising: Airpush purchases Hubbl to tap data-tracking technology.
Airpush makes a move in the native ad mobile market with pickup of data tracker Hubbl
Energy: SolarReserve digs chance to power up Australian miners.
Energy: SolarReserve sees Australian mining companies as a shining opportunity for growth.
Technology: BLife joins field looking to get human mind in shape
Technology: Software developers head in a new direction with products to develop people’s brains.
Internet: Docstoc takes small-business focus to new parent Intuit.
Internet: Online document provider Docstoc signs paperwork to be acquired by financial software company Intuit.
TV: GSN turns to court to salvage offer for mobile bingo business.
TV: Game Show Network’s pursuit of mobile gaming company Bash ends up in court.
Internet: Tinder gets serious about moving beyond romance.
When it launched last year, Tinder Inc. was just another dating app trying to score at local college campuses. But since then, the West Hollywood startup has vaulted into the pop culture lexicon.
Path to first Santa Monica B&B took five years, $2.8 million
Santa Monica welcomes its first bed-and-breakfast after a five-year struggle for the property’s owners.
Dining: Hiroyuki Naruke hopes to scale L.A.’s sushi scene after tsunami fallout hurt business at his Tokyo restaurant.
Shannon Kelly, 28, and her husband, Sean, 30, like to get together Sunday evenings to compare their busy schedules of after-work events for the week.
Logistics: Lane-clogging events such as the Rose Parade and transporting the space shuttle drive business for Traffic Management.
Logistics: Lane-closing events such as the Rose Parade have put traffic manager TMI on the road to success.
Last week’s major news from labusinessjournal.com and other sources
Space Exploration Technologies Corp. launched a Falcon 9 rocket to deploy its first commercial communications satellite into an orbit high above Earth after lifting off from Cape Canaveral Air Force Station.
Marketing: Campaign by Unified Grocers to include digital element.
Unified Grocers Inc., a Commerce wholesaler serving independent grocery stores, is expanding its marketing to Hispanics, including a digital campaign.
Expansion: Seaside Luxe to add four resort shops before close of December.
Seaside Luxe, an operator of resort boutiques, is wrapping up the year with a rush of openings.
Retail: John Dawson to take CEO position at Coffee Bean & Tea Leaf.
Retail: Coffee Bean & Tea Leaf serves up doughnut veteran John Dawson as its new chief executive.
Radio: CBS’ Dan Kearney to maintain ad sales model, tweak K-Earth and Wave.
Radio: CBS has cued up another L.A. executive to try and cut into Clear Channel stations’ ratings.
News and notes from communities across Los Angeles County
Taking Off: Ducommun Inc., a Carson aerospace and defense manufacturer, has received a multiyear contract from Parker Aerospace to produce circuit board assemblies for use in the fuel management system of Airbus A350 aircraft.
Development: Billions of dollars in projects are building up L.A.’s downtown and Southern California’s economy
Lease: Deal between UCLA, Cedars marks revival of medical market.
A major lease deal co-signed by longtime medical rivals Cedars-Sinai Medical Center and UCLA Health System last week might indicate that the health care real estate market is back on track after years of uncertainty.
Friday, December 6
Shares of OSI Systems Inc. fell nearly 10 percent on Friday after the company announced that the U.S. Transportation Security Administration canceled a $60 million order for its airport screening machines.
The Los Angeles Business Journal’s index of largest local public companies closed down slightly for the week.
In Friday trading, the Dow Jones industrial average closed up 199 points, or 1 percent, to 16,020. The Nasdaq rose 29 points to 4,063. The S&P 500 rose 20 points, or 1 percent, to 1,805. The LABJ Stock Index rose more than 1 point to 176.
Under the new contract, Riot’s professional players will not be allowed to stream their gameplay of other Massive Multiplayer Online Games such as “Defense of the Ancients 2” and “World of Warcraft.”
The Playa Vista ad tech firm is looking to debut on the stock market next year and has hired Morgan Stanley and Goldman Sachs to lead the initial public offering, Bloomberg News reported late Thursday.
The November jobs report confirms the economy is improving, but not enough to push the Fed to remove the stimulus this month; that news prompted stocks to rise this morning, CNBC reports.
In lawsuits filed in U.S. District Court, the city of Los Angeles accused banking giants Wells Fargo & Co. and Citigroup Inc. of a “continuous pattern and practice” of mortgage discrimination, the Los Angeles Times reports.
California's health exchange is struggling to keep pace with a surge of applicants who are encountering long waits and website problems as they try to meet a Dec. 23 deadline, the Los Angeles Times reports.
Bitcoin — the virtual currency that has beckoned and bewildered people around the world — is ripe for fraud, in no small part because regulators don't agree on which laws apply, the New York Times reports.
Nelson Mandela embraced free markets, but thought that "with great wealth comes great responsibility," Sir Richard Branson told CNBC as the world remembered the anti-apartheid icon.
Rob Marcus, the 48-year-old Time Warner Cable chief operating officer who becomes chief executive on Jan. 1, has a message for the company's shareholders: I’m the right guy to decide whether to sell the company, Bloomberg News reports.
Hollywood leads the way in a new government report on the economic value of arts and culture, Southern California Public Radio reports.
Clear Channel is moving Rush Limbaugh from KFI-AM to KTLK-AM, which the chain hopes to turn into the local beacon for right-leaning chatter, the Los Angeles Times reports.
House of Props, one of L.A.’s oldest prop houses, closed its doors on North Gower Street this week with little warning, the Los Angeles Times reports.
Fast-food workers, union organizers and community supporters rallied nationwide for higher pay on Thursday as the restaurant industry disputed the organizers' facts, the Los Angeles Times reports.
Think your movie is an American treasure? So did 25 best picture winners still excluded from the National Film Registry by the National Film Preservation Board, the Hollywood Reporter says.
In Friday morning trading, the Dow Jones industrial average was up 141 points, or 1 percent, to 15,963. The Nasdaq rose 22 points to 4,055. The S&P 500 rose 15 points, or 1 percent, to 1,800.
Thursday, December 5
Shares of Puma Biotechnology Inc. surged 68 percent on Thursday after the cancer drug developer previewed clinical trial results from its lead drug candidate.
The defense electronics system division of Alliant Techsystems Inc. will begin relocating from Woodland Hills to Northridge at the end of the month.
UTi Worldwide Inc. fell to a loss in its fiscal third quarter, largely due to higher expenses, but its adjusted earnings met Wall Street expectations. Guess Inc.reported lower fiscal third quarter earnings and cut its full-year revenue forecast. Korn/Ferry International's fiscal second-quarter net income beat analyst expectations, boosted by growth in the staffing company's leadership and talent consulting business.
In Thursday trading, the Dow Jones industrial average closed down 68 points to 15,822. The Nasdaq fell 5 points to 4,033. The S&P 500 fell 8 points to 1,785. The LABJ Stock Index fell less than 1 point to 175.
The round was led by QED Investors, the private fund of Capital One co-founder Nigel Morris.
Oink offers kids a secure, credit card-free way to make online purchases at partnered e-commerce sites such as Toys R Us and Gamestop.
The latest UCLA Anderson Forecast says California continues to be a story of two economies: coastal regions with healthy job growth and inland areas that are still struggling to recover, the Los Angeles Times reports.
In another key setback to the California bullet train project, federal regulators have rejected the state's request to exempt a large Central Valley segment of proposed track from a lengthy planning review, the Los Angeles Times reports.
The Southern California Association of Governments says poverty is ramping up in Southern California and has risen significantly over the last two decades, the Los Angeles Daily News reports.
In a defeat for Wall Street, the "Volcker rule" won't allow banks to enter trades designed to protect against losses held in a broad portfolio of assets, a practice known as portfolio hedging, the Wall Street Journal reports.
Microsoft on Thursday becomes the latest company to announce new efforts to try to protect its data from its own government, the New York Times reports.
A U.S. judge's ruling in Detroit's bankruptcy case could affect the bankrupt city of San Bernardino, which is in mediation with its largest creditor, the California Public Employees' Retirement System, over its pension obligations, Southern California Public Radio reports.
Palm Springs International Airport, a onetime military base, has become one of the fastest-growing commercial airports in the West and an increasingly popular alternative to larger, more congested aviation hubs, the Los Angeles Times reports.
Jerry Bruckheimer, producer of blockbusters from “Pirates of the Caribbean” to “Top Gun,” has all but closed a deal to make movies for Paramount when his deal at Disney expires next year, the Wrap reports.
Whimsic Alley, the Miracle Mile shop that sells "Harry Potter" merchandise and was sued by Warner Bros. for trademark infringement, has reached a settlement with the studio that will allow the store to remain open, the Los Angeles Times reports.
Fred Sands, whose name once was posted on for-sale signs on houses all over L.A.'s affluent Westside, quit selling homes more than a decade ago. He has since quietly built another real estate empire, the Los Angeles Times reports.
Raul Martinez Sr., founder of the King Taco chain, one of the original Los Angeles Mexican fast food restaurants, has died at the age of 71, the Los Angeles Times reports.
The advertising industry descended on a Federal Trade Commission workshop Wednesday that focused on whether publishers and advertisers are doing enough to keep consumers from mistaking so-called native ads — which are meant to closely resemble non-sponsored content — from the content itself, AdAge reports.
In Thursday morning trading, the Dow Jones industrial average was down 50 points to 15,840. The Nasdaq fell 8 points to 4,030. The S&P 500 fell 6 points to 1,787.
Wednesday, December 4
Coffee Bean & Tea Leaf has named John Dawson president and chief executive, replacing Mel Elias, who served in those roles for five years.
City councils in both Los Angeles and Long Beach have voted to restrict sales and use of electronic cigarettes.
Walt Disney Co. has formed a joint venture with Chinese new media firm BesTV that could help the Burbank entertainment giant increase its digital distribution in China. The deal was announced Wednesday.
Robert Kotick reportedly threatened to quit as Activision Blizzard Inc.’s chief executive unless the board accepted his vision of the buyout of most of Vivendi’s stake in the company, according to claims in a shareholder lawsuit over the deal.
In Wednesday trading, the Dow Jones industrial average closed down 25 points to 15,890. The Nasdaq rose 1 point to 4,038. The S&P 500 fell 2 points to 1,793. The LABJ Stock Index rose less than 1 point to 175.
Terms of the deal, which is expected to close by the end of January, were not disclosed.
Hawthorne's Space Exploration Technologies Corp. successfully launched its first commercial satellite on Tuesday, establishing itself as a low-cost alternative to aerospace companies backed by U.S. and foreign governments, the Wall Street Journal reports.
Changing cultural attitudes and skyrocketing home prices on Southern California have boosted demand for condominiums this year, the Los Angeles Times reports.
A federal judge's ruling approving the largest municipal bankruptcy in U.S. history Tuesday sets the stage for an epic legal battle over who will pick up the tab, including bond investors, retired city workers, state taxpayers or bankers, CNBC reports.
The decision to reduce retiree benefits and raise state contributions in Illinois, a state with a strong labor movement that had successfully resisted previous reform efforts, could provide a template for agreements elsewhere, the New York Times reports.
The European Commission has fined eight banks the equivalent of $2.3 billion for forming illegal cartels to rig interest rates, Bloomberg News reports.
The producers of “Fast & Furious 7” are considering scrapping what they’ve already done on the film and starting over after Paul Walker’s death, the Wrap reports.
The L.A. City Council on Tuesday added a nondescript, flat-roofed drive-through — the first of the more than 350 opened by the Wienerschnitzel chain — to its registry of historic-cultural monuments, the Los Angeles Times reports.
"Frozen's" success shows the house that Walt built can compete with a sibling rival that is enduring layoffs and criticism of its sequel strategy, the Hollywood Reporter says.
U.S. companies hired more workers than expected last month, suggesting the labor market was improving enough for the Federal Reserve to start trimming its bond purchases, Reuters reports.
The on-again-off-again campaign to turn Walt Disney’s Chicago birthplace into an attraction has taken an unexpected new turn, the New York Times reports.
A cluster of shops selling vintage clothing in Burbank is a treasure trove for set decorators, costume designers and prop masters of shows that include AMC's "Mad Men" and Showtime's "Masters of Sex." the Los Angeles Times reports.
As American Airlines prepares to close a merger with US Airways Group, a small group of investors who bet on it when it was flying low are poised to reap one of the biggest bankruptcy windfalls in years due to a quirk in the deal, the Wall Street Journal reports.
Newsweek, the struggling weekly magazine that ceased print publication last year, plans to turn the presses back on early next year, the New York Times reports.
Las Vegas, where the only design rule seems to be that everything must mirror something else, is getting a new mall modeled on Istanbul's Grand Bazaar, the Associated Press reports.
Next time your boss starts droning on about innovation, it might be helpful to stop and analyze: Is she talking about building the next iPod or the next Pop-Tart, the Wall Street Journal reports.
In Wednesday morning trading, the Dow Jones industrial average was up 21 points to 15,936. The Nasdaq rose 8 points to 4,045. The S&P 500 rose 2 points to 1,797.
Tuesday, December 3
The Santa Monica startup has released what it describes as a "personal fitness program for the mind." It was built as a Web app for computers, with an iPhone app set to be released next year.
Shares of Herbalife Ltd. rose on Tuesday after an appeals court in Belgium handed the Los Angeles supplements company a victory in its battle against charges it runs an unlawful pyramid scheme.
The Burbank-Glendale-Pasadena Airport Authority has decided to limit the commercial development of 58 acres of land that it owns adjacent to the Burbank Bob Hope Airport.
The Los Angeles Board of Airport Commissioners has approved the transfer of property leases at Van Nuys Airport from Robert Maguire's Maguire Aviation to Signature Flight Support.
hares of Ducommun Inc. rose 4 percent on Tuesday after the Carson aerospace contractor said it won a multiyear contract to make complex printed circuit board assemblies for the fuel management system of the Airbus A350 jetliner.
In Tuesday trading, the Dow Jones industrial average closed down 94 points to 15,915. The Nasdaq fell 8 points to 4,037. The S&P 500 fell 6 points to 1,795. The LABJ Stock Index fell 1 point to 175.
The 2,600-square-foot property known as Blu House is available for a monthly price of $6.40 per square foot.
Spanish-language radio personality 'El Mandril' has been off the air at KLAX-FM (97.9), but the Spanish Broadcasting System isn't saying why, the Los Angeles Times reports. Meanwhile, Univision Communications has unveiled a new morning radio show on KSCA-FM (101.9) in the time slot once held by Eddie "Piolin" Sotelo.
Two longtime rivals, Cedars-Sinai Medical Center and UCLA Health System, are partners in a planned 138-bed rehabilitation hospital in Century City, the Los Angeles Times reports.
More than a year after the Supreme Court upheld the central provision of President Obama’s health care overhaul, a fresh wave of legal challenges to the law is playing out in courtrooms, the New York Times reports.
The Obama administration on Monday said added money would be an incentive for insurance companies to let people keep health policies canceled under national health care reform, the New York Times reports.
The number of banking institutions in the United States has dwindled to its lowest level since at least the Great Depression, as a sluggish economy, stubbornly low interest rates and heightened regulation take their toll, the Wall Street Journal reports.
A 22-year-old's death is the third since 2006 involving Ecstasy at raves staged in San Bernardino County by promoter Insomniac, the Los Angeles Times reports. The latest fatal overdose occurred at a concert promoted by L.A. company Insomniac.
Cyber Monday sales data might provide some good news after a slightly downbeat Black Friday, but one strategist tells CNBC that consumer spending this holiday season will show that the U.S. Federal Reserve's "wealth effect" simply isn't working.
The Sumner M. Redstone Charitable Foundation has made a $20 million gift to the Motion Picture & Television Fund’s Campaign, which provides aid to more than 15,000 entertainment industry workers and their families each year, the Hollywood Reporter says.
New FCC Chairman Tom Wheeler on Monday noted that his agency should let the marketplace “evolve” before addressing whether Internet providers should be able to charge customers based on the amount of bandwidth they use, Variety reports.
Government regulators in New York have sent subpoenas to 16 so-called lead generator websites, part of a broader crackdown on the payday lending industry, the New York Times reports.
Chinese students have come out on top in an international standardized test covering mathematics, reading and science, far outscoring their U.S. counterparts who achieved below average marks in two out of three subjects, CNBC reports.
The United States is the world's most generous nation, according to a global index of giving, as a higher proportion of Americans helped a stranger than any other country in the world, CNBC reports.
In Tuesday morning trading, the Dow Jones industrial average was down 67 points to 15,942. The Nasdaq was up 1 point to 4,046. The S&P 500 fell 3 points to 1,798.
Monday, December 2
On Assignment Inc. on Monday said that it has completed the sale of one of its business units and made two acquisitions.
Revolution Capital Group on Monday said that it has acquired Maysteel, an Allenton, Wis. maker of sheet metal products.
In Monday trading, the Dow Jones industrial average closed down 78 points to 16,009. The Nasdaq fell 15 points to 4,045. The S&P 500 fell 5 points to 1,801. The LABJ Stock Index rose less than 1 point to 176.
The e-commerce company, which primarily sells electronics, opened the retail location – attached to its warehouse – on Nov. 29, Black Friday, a day when traditional retailers typically offer big discounts.
A former Caltrans chief has proposed an initiative for the 2014 ballot that would more than double the state vehicle license fee to raise funds for rebuilding roads and bridges and boosting mass transit, the Los Angeles Times reports.
Bank of America Corp. agreed to pay $404 million to Freddie Mac to settle claims related to bad mortgages the bank sold to the housing finance giant, the Los Angeles Times reports.
Both Lions Gate’s "The Hunger Games: Catching Fire" and Disney’s "Frozen" beat previous Thanksgiving weekend records, the Associated Press reports, with the former taking in at least $75 million in its second weekend, and the latter with $67 million, according to studio estimates Sunday.
Michigan industrial giant Dow Chemical on Monday said that it would shed about $5 billion worth of assets, which the New York Times reports makes it latest large industrial group to try to streamline itself.
The burgeoning tech community known as Silicon Beach is fueling a Westside housing grab that has enabled landlords to push sky-high rents even higher and helped send home prices above their prerecession highs, the Los Angeles Times reports.
Chief Executive Jeff Bezos said Amazon.com is preparing to deliver small packages using airborne drones, USA Today reports. The project was unveiled Sunday on the CBS show “60 Minutes;” Bezos acknowledged that crashes were a potential problem.
Hilton Worldwide Holdings Inc. said its initial public offering of nearly 113 million shares is expected to price between $18 and $21 a share for proceeds of up to $2.7 billion, the Wall Street Journal reports.
Comcast is pushing new technology it says could change the way we watch TV and the way advertisers buy time on it, the Wrap reports, with more episodes available on demand — all with the same new ads.
About 200 protesters demonstrated outside a Wal-Mart store in Los Angeles' Crenshaw neighborhood on Black Friday, the Los Angeles Times reports, but no arrests were made.
Stuart Sucherman announced Monday that he is stepping aside as chief executive of Sucherman Consulting Group, the influential New York firm he founded in 1985 to help entertainment executives navigate the industry, the Wrap reports. He will remain as the firm's chairman.
Being selected to use the Transportation Security Administration’s so called PreCheck lines is never guaranteed, even if you meet all of TSA’s conditions. The Los Angeles Times looks at how you can improve your chances.
In Monday morning trading, the Dow Jones industrial average was down 27 points to 16,060. The Nasdaq fell 3 points to 4,056. The S&P 500 rose 1 point to 1,807.
News and notes from communities across Los Angeles County
Planes Landed: Jet Edge International, a Van Nuys aircraft charter and management company, has added four business jets to its fleet.
Investment: Capricor says reverse-merger pickup about product partnership
A Beverly Hills biotech company went public late last month in a reverse merger with a struggling Northern California drug developer, but it won’t tap the public markets anytime soon.
OP-ED: Fourteen-mile run around eastern part of city offers look at how streets should serve multiple users.
Luis López thinks he sees how multiple-user streets should run while jogging around eastern Los Angeles.
Trip to Dallas’ Dealey Plaza lets 5,000 participants ‘experience’ tragedy of JFK’s assassination
History: Dan Harary details his trip to Dallas’ Dealey Plaza for the 50th anniversary of JFK’s assassination.
Publishing: All of LANG’s local papers to charge for online access
After years of letting readers view its online news stories for free, the Los Angeles News Group is asking them to pay up.
Lending: High-interest loans to small businesses yield big returns.
Direct Lending Investments is doing well as it buys up high-interest loans made to mom-and-pop businesses.
Live-tree firm sprouts elsewhere after billionaire buys in
Retail: Living Christmas is growing its tree rental business with a rooting interest from billionaire Mark Cuban.
Internet: Demand looks to domain-name business and new CEO for lift.
Demand Media hopes a new CEO and the spinoff of its domain-name business will supply answers to its revenue problem.
Investment: Firm forms joint venture with distressed asset manager.
INVESTMENT: Oaktree makes good on its plan to enter China by forming joint venture to acquire bad loans.
INTERVIEW: Manatt Phelps’ George Kieffer has made time for civic affairs and music while working at the law firm for four decades.
Power broker and Manatt Phelps & Phillips Partner George Kieffer makes sure to spend some of his playtime at the piano.
Internet: Report of TrueCar retaining pair of investment banks fuels talk.
TrueCar is subject of speculation that it may go public.
As a small-business owner and someone who relies on the Postal Service for all of my business shipping and mailing needs, I’m glad that there is finally momentum in Congress to reform the Postal Service.
Advertising: Enplug team grows out of live/work setup, expands interactive reach.
Advertising: Formerly mansion-housed Enplug homed in on traditional office space after its digital display business grew.
TRANSPORTATION: Camp operator now trafficks in buses as Westside congestion forces parents, schools to seek alternatives
Westside traffic drove summer camp operator Erin Benfield to open a school busing business.
REAL ESTATEL: Boulevard Partners snaps up creative space in off-market deal.
Developers and investors are taking notice as the Arts District in downtown Los Angeles continues to draw the attention of creative people and businesses.
Lola Getts puts twist on Lululemon pants flap by touting plus-size wear
Lululemon’s CEO recently dissed wearers of plus-sized yoga pants, but Lola Getts rolls out the welcome mat for them.
Internet: Networks offer stars viewership-measuring platforms
YouTube networks are building tech platforms to keep stars happy as part of a new big picture.
Employment: L.A. office of Hogan Lovells works to restaff after merger
Since Washington’s Hogan & Hartson merged with London’s Lovells in 2010 to form Hogan Lovells, the firm’s L.A. office has struggled to hold on to attorneys, dropping to about 20 at one point from about 50.
Health Care: New owner seeks clean break from cash woes.
Addiction and recovery website TheFix seeks a fresh start after a bankruptcy filing.
Last week’s major news from labusinessjournal.com and other sources
President Obama’s trip to Los Angeles included a tour of Glendale production studio DreamWorks Animation SKG Inc. hosted by Chief Executive Jeffrey Katzenberg, a major campaign donor.
Firm with Manila office pitches in to raise funds for Philippines
Philanthropy: Bryce Maddock raises funds for typhoon-hit Philippines, where his outsourcing company has offices.
The trend to ever-smaller work spaces has Charles Crumpley feeling pinched.
Accounting: Donald R. Rudkin encourages future bean counters to learn how the whole business enchilada works.
A quarter-century ago, David Henry began his real estate career while living in Dandora, a slum near Nairobi, Kenya.