Stories for May 2013

Friday, May 31

FAA May Crack Down on Helicopter Noise in L.A.

The Federal Aviation Administration will look at modifying helicopter routes and having the aircraft fly at higher altitudes in certain areas as a way to address noise complaints from L.A.-area residents.

AeroVironment Downsizes

AeroVironment Inc. said in a regulatory filing that it had implemented a workforce reduction, but did not specify how many people had been laid off.

Shipping Routes Changed to Save the Whales

To reduce freighter collisions with whales near the Ports of Los Angeles and Long Beach, the Pacific Merchant Shipping Association announced Friday it is changing routes.

Capstone, Dole Among Week’s Biggest Movers

The Los Angeles Business Journal’s index of largest local public companies closed down for the week as the larger markets were hit with late Friday declines.

Markets Slump at Month’s End

In Friday trading, the Dow Jones industrial average closed down 209 points to 15,116. The Nasdaq fell 35 points to 3,456. The S&P 500 fell 24 points to 1,631. The LABJ Stock Index fell 4 points to 162.

Scopely Snags Zynga Vet

As Scopely expands from a mobile game developer to publisher and distributor of those games, the Hancock Park startup has added an industry veteran to its ranks.

Mandalay Digital Gets $1 Million More

The Mid-Wilshire company announced Thursday it had received a $1 million investment from Windsor Media, the L.A. investment company founded by Terry Semel.

Assembly Approves Hike in Minimum Wage

The State Assembly on Thursday passed a proposal to increase California's minimum wage from $8 to $9.25 an hour in the next three years and require future increases to keep pace with inflation, the Los Angeles Times reports. Also read the Business Journal's earlier coverage of the issue.

Why L.A. Restaurants Draw Star Investors

Skeptical business managers haven't stopped entertainment industry figures such as Ryan Seacrest from investing in L.A. restaurants, the Hollywood Reporter says.

State Senate Passes Mattress Recycling Bill

A compromise bill that would make California the first state in the nation to require recycling of old mattresses easily passed the state Senate, the Los Angeles Times reports. Also check out the Business Journal's earlier coverage of the issue.

Senate Passes Modified State Tax Break for Investors

The State Senate on Thursday passed legislation that would partially reinstate a tax break for investors in small California companies, the Sacramento Bee reports. Check out the Business Journal's earlier coverage of the tax break.

LAX Sued Over Runway Relocation, Other Projects

A labor union, four local governments and a neighborhood coalition have sued Los Angeles International Airport, challenging its latest round of construction that includes a plan to move a runway closer to residences, the Los Angeles Times reports.

Time to Hack Back?

Some companies are considering adopting the standards of the Wild West to fight back against online bandits, the Los Angeles Times reports.

Summit Sued by Makers of 'Twilight' Parody

Filmmaker Between the Lines is suing "Twilight" studio Summit Entertainment and parent Lions Gate Entertainment for a half billion dollars, accusing the companies of improperly working to quash parodies of their hit film franchise, TheWrap.com and Variety report.

San Joaquin Valley Shale Ripe for Exploration

California has yet to tap its Monterey shale deposit with the same fervor that North Dakota has devoted to Bakken, or Pennsylvania has adopted for its Marcellus shale. CNBC looks at why.

How One Overlooked Loophole Saves Companies Billions

The story behind the "check the box" loophole — which allows U.S. companies to choose for themselves how to classify their subsidiaries for tax purposes — shows how Washington has saved money for American corporations while depriving the federal government of billions in tax revenue each year, Reuters reports.

Board Endorses Michael Dell Buyout Offer

Dell's board on Friday said that it's in best interest of the slumping PC maker's shareholders to accept the $24.4 billion takeover bid led by the company's founder and chief executive, the Associated Press reports.

Are 'No Fun' Signs on Beach Horizon?

With so many bans and restrictions, California’s beaches are increasingly no longer the emblem of free living and youthful exuberance, where Gidget met Moondoggie and the Beach Boys had fun, fun, fun, the New York Times reports.

Lithuania Taps the Riches of Google Maps

Lithuania's tax assessors are using Google's Street View photos to find signs of undeclared wealth, the Wall Street Journal reports.

Can Swanky Seats Save Movie Theaters?

The number of traditional movie theaters is shrinking in the United States, but dine-in chains such as the Alamo Drafthouse are in expansion mode, TheWrap.com reports.

Markets Rise

In Friday morning trading, the Dow Jones industrial average was up 59 points to 15,384. The Nasdaq rose 8 points to 3,499. The S&P 500 rose 4 points to 1,658.

Thursday, May 30

Lions Gate Moves to Profit, Beats Expectations

Santa Monica independent studio Lions Gate Entertainment Corp. swung to a fourth quarter profit and beat Wall Street expectations, thanks in part to the Twilight franchise.

Guess' Quarter Better Than Expected

Shares of Guess Inc. rose more than 8 percent in after-hours trading Thursday after the apparel retailer reported adjusted fiscal first-quarter profit that beat Wall Street expectations.

Munger Gives $32 Million to Huntington Library

The Huntington Library, Art Collections and Botanical Gardens in San Marino on Thursday announced a $32 million gift from Los Angeles billionaire Charles Munger toward building a new education and visitor center.

MPG to Sell Pasadena Office Complex for $75 Million

MPG Office Trust Inc. has agreed to sell its Plaza Las Fuentes office and retail complex in Pasadena’s Civic Center neighborhood to East West Bank and an entity called Downtown Properties Holdings.

BKF Renews Bid to Take Over Qualstar

Florida investment firm BKF Capital Group Inc. has informed Qualstar Corp. that it will put up seven board candidates in another effort to control the Simi Valley data tape storage company.

Nexicore to Lay Off 108 in Simi Valley

Nexicore Services plans to lay off 108 employees at its Simi Valley headquarters, according to a notice filed with the state Employee Development Department.

NASA Leases Drones from Northrop Grumman

Northrop Grumman Corp. has extended an agreement to provide two Global Hawk unmanned aircraft for science missions conducted by NASA’s Dryden Flight Research Center.

Markets Close Mostly Up

In Thursday trading, the Dow Jones industrial average closed up 22 points to 15,325. The Nasdaq rose 24 points to 3,491. The S&P 500 rose 6 points to 1,654. The LABJ Stock Index fell 1 point to 165.

Lawmakers Approve Gun-Control Measures

California lawmakers on Wednesday advanced a dozen gun-control measures, including background checks for ammunition buyers, the Los Angeles Times reports.

Retail Rents Rise in Southland

Owners of shopping centers and Main Street-style stores across Southern California have finally stopped reducing rents and started raising them for the first time since 2008, the Los Angeles Times reports.

Plan Would Overhaul Key Water System Hub

A $25 billion proposal, backed by Gov. Jerry Brown's administration and the Obama administration, calls for habitat restoration and the construction of two huge tunnels to divert water from the Sacramento River and carry it under the Sacramento-San Joaquin Delta to southbound pumps, the Los Angeles Times reports.

State Agency Failed to Collect $100 Million from Polluters

The California Department of Toxic Substances Control has spent $100 million in public funds over the past 26 years to clean contaminated property for which polluters were liable but never were sent a bill, the Sacramento Bee reports.

CNN Climbs, MSNBC Swoons

In the battle for cable TV news ratings, Fox News Channel is maintaining a handsome lead for primetime and total day viewers, while primetime runner-up CNN continues a healthy climb from the lows of last year, the Hollywood Reporter says. MSNBC, meanwhile, is in a very precarious fourth place.

Study: Top U.S. Tax Breaks to Cost $12 Trillion

The Congressional Budget Office says the top 10 tax deductions, credits and exclusions will keep $12 trillion out of federal government coffers over the next decade, with many of the breaks mainly benefiting the wealthy, Reuters reports.

Anonymous Payment Schemes Thrive on Web

Experts say there are hundreds of Internet payment systems that do not require users to identify themselves, making it difficult to seize on money laundering operations, the New York Times reports.

Mexico Housing Bust Bruises Investors

Home buyers and investors on both sides of the border are turning their backs on two Mexico's low-income housing darlings, Urbi Desarrollos Urbanos SAB and Corporación Geo SAB, bringing a government-fueled boom that lasted more than a decade to a screeching halt, the Wall Street Journal reports.

Petraeus Signs on with KKR

David Petraeus, the former U.S. Army general who resigned last year as CIA chief, is rebooting his career with private-equity firm KKR, the Wall Street Journal and Associated Press report. Petraeus had earlier signed on for some college teaching gigs across the country, including one at USC.

Older Americans Seek Softer Retirement Landing

More aging Baby Boomers, and their employers, are agreeing to a phased retirement that gives workers a way to maximize their retirement savings and the company a way to retain highly experienced employees who often have built close ties with clients, the Associated Press reports.

Markets Rebound

In Thursday morning trading, the Dow Jones industrial average was up 59 points to 15,362. The Nasdaq rose 23 points to 3,490. The S&P 500 rose 8 points to 1,656.

Wednesday, May 29

L.A. To Create Consolidated Planning Department

The Los Angeles City Council on Wednesday approved creation of a new Department of City Planning & Development.

Amgen Creates Japanese Joint Venture

Amgen Inc. on Wednesday said that it plans to expand its presence in the Japanese market through a joint venture with Tokyo's Astellas Pharma Inc., which itself has a strong presence in the Los Angeles area.

Survey Says Businesses Don’t Love L.A.

Business owners and executives in Los Angeles County are less optimistic about the local economy this year than last year, according to a survey from the Los Angeles County Business Federation.

Robbins Bros. Rings Up Purchase of Washington Stores

Jewelry retailer Robbins Bros. announced Wednesday that it has purchased E.E. Robbins, Washington jewelry stores with a family tie.

Markets Down at Close

In Tuesday trading, the Dow Jones industrial average closed down 107 points to 15,303. The Nasdaq was down 21 points to 3,467. The S&P 500 fell 12 points to 1,648. The LABJ Stock Index fell 2 points to 166.

Santa Monica’s Tennis Channel Loses Comcast Suit

A federal appeals court ruled on Tuesday that Comcast Corp. has no obligation to distribute Santa Monica's independently owned Tennis Channel as widely as its own niche sports networks, the Wall Street Journal reports.

Former KPMG Partner Makes Plea Deal

Scott London, a former senior partner at accounting firm KPMG's Los Angeles office, on Tuesday agreed to plead guilty to securities fraud for passing inside information about the firm's clients to a friend, the Los Angeles Times reports.

Wal-Mart Pleads Guilty to Dumping Hazardous Waste

In cases filed in Los Angeles and San Francisco, Wal-Mart pleaded guilty to six counts of violating the Clean Water Act by illegally handling and disposing of hazardous materials at its retail stores across the country, USA Today reports.

L.A. Council Concerned About Vernon Battery Recycler

The Los Angeles City Council on Tuesday called for more rigorous regulation of a Vernon battery-recycling plant where operations were suspended last month over lead and arsenic emissions, the Los Angeles Times reports.

Chinese Meat Producer to Buy U.S. Company

Chinese meat producer Shuanghui on Wednesday agreed to buy Smithfield Foods for $4.7 billion, the largest takeover of a U.S. company by a Chinese buyer, which the Wall Street Journal says is likely to receive heavy regulatory scrutiny.

Tesla Shares Break $100

Shares of electric auto maker Tesla crossed $100 for the first time on Tuesday, after the company announced an expansion to its charger network, Bloomberg BusinessWeek reports. The news further boosts the fortune of L.A. serial tech entrepreneur Elon Musk, CNNMoney reports.

Manatt Names Co-Chairmen for Entertainment Practice

Lindsay Conner and Gary Gilbert have been named co-chairmen of law firm Manatt Phelps & Phillips' national entertainment practice, TheWrap.com reports. Both are partners at Manatt’s Los Angeles office.

Senate Rejects Bill on Prescription Monitoring Program

State senators on Tuesday failed to pass a bill that would have levied higher fees on pharmacists and doctors and a tax on drug makers to improve a prescription monitoring program, the Los Angeles Times reports.

Labor Groups Back 'Wal-Mart' Bill

California labor unions are using lobbying, direct mail and online advertising blitz to push passage of legislation that would penalize large employers if the wages they pay are not high enough to keep workers off Medi-Cal rolls, the Sacramento Bee reports.

Sallie Mae to Split into Two Companies

Sallie Mae plans to split into two separate, publicly traded companies, an education loan management business and a consumer banking business, the Associated Press reports.

Is the 'Great Rotation' Finally Happening?

Tuesday's sell-off in U.S. Treasurys — which took yields to their highest levels in more than a year — and record high equities are leading to speculation a long anticipated rotation out of fixed income investments may finally be here, CNBC reports.

Mothers Now Top Earners in 4 of 10 U.S. Homes

A Pew Research Center study says working mothers are now the primary breadwinners in a record 40 percent of U.S. households with children, a change likely to bring added attention to child-care policies, Bloomberg BusinessWeek and the Huffington Post report.

Coal Companies Turn to the Sun

Some of the largest U.S. users of coal are considering getting into the solar-power business, the Wall Street Journal reports, driven by lagging demand for electricity and increased competition from small solar system providers.

Fashion Store Zara to Open Downtown

Trendy retailer Zara will open a store at the Figat7th shopping center, bringing fast fashion to downtown Los Angeles, the Los Angeles Times reports.

Markets Sink

In Tuesday morning trading, the Dow Jones industrial average dropped 168 points to 15,242. The Nasdaq was down 37 points to 3,452. The S&P 500 fell 19 points to 1,641.

Tuesday, May 28

Calacanis Launches Co-Working at Inside.com

Jason Calacanis, who runs video startup Inside.com, is renting out extra space at his Culver City office for companies looking for camaraderie.

Tease photo

Insomniac Lights 'Fuse' Beyond PlayStation

"Fuse" is a third-person shooter set in a desert base where the U.S. government had been studying a volatile substance called Fuse.

Tease photo

Dole Cancels Share Repurchase

Shares of Dole Food Co. Inc. fell nearly 6 percent on Tuesday after the fresh vegetable and fruit company dropped a share buy-back plan and will instead use the money to modernize its shipping fleet.

IPO for Colony Spinoff Is Priced

The coming public offering of Colony Capital LLC spinoff Colony American Homes could bring in more than $230 million.

Large Turbine Order Boosts Capstone Shares

Shares of Capstone Turbine Corp. hit a 52-week high on Tuesday after the Chatsworth company announced that it had received a large microturbine order for a big Manhattan real estate development.

Bill to Expand Condom Use in Adult Movies Hits Roadblock

A bill mandating the use of condoms in adult movies filmed anywhere in the state has been shelved by an Assembly committee, likely preventing its consideration until next year.

Swiss Balance Founder Stefan Moser Dies

Stefan Moser, founder of Santa Monica prosthetic company Swiss Balance Inc., died after succumbing to heat during an off-road adventure trip in the Mojave Desert last month. He was 54.

Markets Gain

In Monday trading, the Dow Jones industrial average closed up 106 points to 15,409. The Nasdaq rose 30 points to 3,489. The S&P 500 rose 10 points to 1,660. The LABJ Stock Index rose 1 point to 168.

Broadway Theaters Plan Advances

A plan to reactivate four historic Broadway theaters is moving forward, the Los Angeles Downtown News reports. The Delijani family will go before a city zoning administrator to ask for permits for nearly a dozen proposed bars, restaurants and lounges.

Tutor Perini Faces Questions on High-Speed Rail

Tutor Perini Corp. is set to start construction on California's bullet train, but a congressman is concerned that the Sylmar company scored low during the bidding process, the Los Angeles Times reports.

Trying to Avoid the 'Cadillac Tax'

Some companies that offer high-end health care plans are planning to scale back some benefits, the New York Times reports. That's because they fear a 40-percent tax in 2018 under federal health care reform.

Boxer Wants San Onofre Probe

Sen. Barbara Boxer wants the Justice Department to investigate if Southern California Edison executives deceived federal regulators about an equipment swap at the troubled nuclear power plant that eventually led to a radiation leak, the Associated Press reports.

Survey: Home Prices Jump

Home prices in March rose by nearly 11 from a year earlier, the largest such gain in nearly seven years, according to the S&P;/Case-Shiller index, the Wall Street Journal reports.

Accounting Fraud Targeted

The Securities and Exchange Commission's enforcement efforts are turning back toward Main Street, the Wall Street Journal reports, with renewed focus on accounting fraud and other financial-disclosure problems.

Kickbacks at Fannie Mae Alleged

Investigators are looking into assertions by an ex-Fannie Mae worker that kickbacks were "a natural part of business" at the federal housing finance company, the Los Angele Times reports.

Lawmakers Consider New Rules for Medical Marijuana

Two bills that would enhance the legal standing of medical marijuana providers are moving forward in the Legislature, following this month's landmark court ruling that affirmed the rights of local governments to ban dispensaries, the Los Angeles Daily News reports.

Salem Fine Tunes its Content

The Los Angeles Times describes how conservative, Christian-themed media conglomerate Salem Communications in Camarillo tries to makes money the "right" way.

NBC Universal, Warner Bros. Ask Google to De-list Mega

Warner Bros. and NBC Universal want Google searches to stop showing Mega, a file storage and sharing service founded by Kim Dotcom, TheNextWeb.com reports.

Pedicabs Finding Their Place in L.A.

The capital of car culture is increasingly making room for bicycles, the Los Angeles Times reports, with pedicabs in use or under consideration in Los Angeles and other cities in the county.

Overseas Customers Want Part of California Car Culture

Injen Technology Co. of Pomona knew how popular their performance-enhancing automotive products can be with U.S. customers, but they have been surprised by growing demand from buyers everywhere from Saudi Arabia to Mongolia, the Los Angeles Times reports.

Markets Jump in Morning Trading

n Monday morning trading, the Dow Jones industrial average was up 183 points to 15,486. The Nasdaq rose 47 points to 3,506. The S&P 500 rose 19 points to 1,669.

Monday, May 27

The 50 Wealthiest Angelenos: Kou Family

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Patrick Soon-Shiong

Holders of L.A. biggest fortunes – and how they stack up.

Doctors Fear Unhealthy Malpractice Insurance

HEALTH CARE: Lawyers push to lift ‘pain and suffering’ award cap.

Medical groups hope to pull plug on lawyers’ plan to lift limit on “pain and suffering” malpractice awards.

Laid-Back Luxury Looks To Clean Up

Horizontal shower makes splash with $35,000 price tag.

Maker of horizontal shower wants customers to take product’s high price lying down.

Getting Off Ground

Atmosphere is changing around SpaceX as it looks to become a steady rocket launcher.

Electric Carmaker Led Charge as Markets Soared

SPECIAL REPORT: Wealthiest Angelenos

Soaring stocks made up the lion’s share of surging portfolios.

Online Vendor Looks to Click With Euro Markets

RETAIL: JustFab expands overseas toehold with acquisition of Fab Shoes.

Online vendor JustFab steps up its European presence with latest acquisition.

Purchase of Network a Boost for Platform

DreamWorks Animation deal for AwesomenessTV shows drawing power of YouTube as distribution platform.

Big Picture Broadens for YouTube Players

Film firms buy into subscription model.

To the digitally savvy, Netflix and Hulu Plus are synonymous with libraries of movies that can be streamed on demand for a fixed monthly price. YouTube, not so much. That could soon change as film companies jump on a new YouTube business model that allows them to charge monthly subscription fees for their channels.

Website Makes Space for Those Ready to Rock

INTERNET: Gigit aims to bring bands and paying jobs together online.

Craigslist ain’t the place to book a band, man.

Maker of Body Scanners May Need Image Control

SECURITY: OSI shares dip after announcement of possible contract woes.

Analysts still see OSI as a safe bet despite U.S. officials’ concerns over the company’s body scanners.

Vision, Entrepreneurism Can Yield Hefty Paydays

SPECIAL REPORT: Wealthiest Angelenos

Majority of Wealthiest Angelenos reaped riches from vision combined with entrepreneurial spirit.

How to Keep Your Wealth Under Wraps

SPECIAL REPORT: Wealthiest Angelenos

Avoid reporters.

Riches Under the Radar

SPECIAL REPORT: Wealthiest Angelenos

Some of L.A.’s richest residents elude the spotlight while piling up millions and even billions in low-profile industries.

The 50 Wealthiest Angelenos: Peter Lowy

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Gloria Joseph

Holders of L.A. biggest fortunes – and how they stack up.

Part of L.A. Mayor’s Legacy Is Sustainable

Michael Crooke elects to focus on Antonio Villaraigosa’s environmental legacy.

Putting Money on Los Angeles

Boyle Heights redevelopment project will produce more than 10,000 jobs and millions in city tax revenue.

Maria Elena Durazo and Carol Schatz see a Boyle Heights redevelopment project as a means to build up Los Angeles.

They Made It Interesting

You don’t have to do anything extraordinary to achieve great wealth, Charles Crumpley writes. Just do the ordinary better.

Buyer Locks Up Office Building for $12.7 Million

ACQUISITION: Deal for Culver City property is second-highest in last year.

A 51,288-square-foot Culver City office building has sold for $12.7 million in the second-highest sale in the city in the last year.

Data Bank

Calendar and Events

The 50 Wealthiest Angelenos: James Cameron

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Robert Day

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Jerry Bruckheimer

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Aubrey Chernick

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Ted Field

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Lowell Milken

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Jeffrey Katzenberg

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: John Shea

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Marc Nathanson

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Thomas Barrack

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Michael Eisner

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Ray Irani

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Neil Kadisha

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: George Joseph

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Ryan Kavanaugh

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Michael Milken

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Charles Munger

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: B. Wayne Hughes Jr.

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Don Hankey

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Gary Michelson

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Bruce Karsh

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Howard Marks

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: David Whitmire Hearst

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: John Tu

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Rick Caruso

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Marion Anderson

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Alec Gores

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Andrew & Peggy Cherng

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Anthony Pritzker

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: David Murdock

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Tom Gores

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Jerrold Perenchio

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: William Barron Hilton

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Donald Sterling

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Haim Saban

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Steven Spielberg

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Steven Udvar-Hazy

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Ed Roski

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Tamara Hughes Gustavson

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Stewart & Lynda Resnick

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: David Geffen

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Sumner Redstone

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Do Won ‘Don’ & Jin Sook Chang

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Elon Musk

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Eli Broad

Holders of L.A. biggest fortunes – and how they stack up.

The 50 Wealthiest Angelenos: Kirk Kerkorian

Holders of L.A. biggest fortunes – and how they stack up.

News of the Week

Last week’s major news from labusinessjournal.com and other sources

Firm Brokers Deal for L.A. Insurance Litigators

LAUNCH: Jerry Oshinsky, Linda Kornfeld open Kasowitz Benson office.

New York firm Kasowitz Benson Torres & Friedman LLP has poached two of the region’s most renowned insurance recovery litigators to start an L.A. office.

Toymaker Game to Bring Staff to HQ in El Segundo

MANUFACTURING: Move part of Mattel’s new focus on relations with retailers.

Barbie parent Mattel makes play to boost North American division by consolidating in El Segundo.

Water Company to Dip Toe Into Splitting Stock

UTILITY: American States may be first L.A. firm to try move since 2008.

Market run-up spurs American States Water to wade back into splitting stock.

Wall Street Plugs In to Equipment Testing Firm

INVESTMENT: Shares of National Technical Systems soar on strong year.

National Technical Systems’ equipment tests elevate firm’s stock with investors.

Regional Report

News and notes from communities across Los Angeles County

More Than Just Meat Wagon

Jim Cascone didn’t realize becoming a partner at Huntington Meats & Sausages at the Farmers Market in L.A.’s Fairfax District a decade ago also meant inheriting a shiny new hobby: owning a collectible car.

Forging Links To Businesses

Pasadena chamber runs online scavenger hunt to create connections.

Pasadena Chamber of Commerce hopes its online scavenger hunt clicks with local businesses.

Bottled Tea Comes With A Twist

Gizmo’s caps release ingredients into water when opened.

Gizmo sees an opening in the industry for its cap-loaded Tea of a Kind bottled brews.

Friday, May 24

Aecom to Oversee College District’s Building Program

The Los Angeles Community College District this week awarded Aecom Technology Corp. a contract to oversee the final phase of the district’s $6 billion capital program.

Bill Curbing Prop. 65 Lawsuit Threats Clears Assembly

The Assembly on Friday passed a bill aimed at blocking shakedown letters to businesses alleging violations of the state’s toxic chemical notification law.

Valley Airport Curfew Gets Business Opposition

Business and aviation interests in the San Fernando Valley are organizing their response to legislation proposed by two federal lawmakers for mandatory curfews at Van Nuys and Burbank Bob Hope airports.

Santa Clarita Valley Economic Chief Resigns

Jonas Peterson, chief executive of the Santa Clarita Valley Economic Development Corp., has resigned.

DTSI, Virtual Piggy Among Week’s Biggest Movers

The Los Angeles Business Journal’s index of largest local public companies closed down for the week.

Markets Mixed at Close

In Friday trading, the Dow Jones industrial average closed up 9 points to 15,303. The Nasdaq fell 1 point to 3,459. The S&P 500 fell 1 point to 1,650. The LABJ Stock Index rose 1 point to 167.

Tech Under-Represented Among L.A.’s Wealthiest

Activity in the L.A. tech sector has been bubbling, but the industry has yet to create the types of billionaires found in Silicon Valley.

Election Results a Blow to L.A. Unions

Some of the most powerful labor organizations in Los Angeles bet that Wendy Greuel would become L.A.’s next mayor – then Eric Garcetti won. But observers tell the Los Angeles Times how organized labor can bounce back.

Chernin, Guggenheim Among Bidders for Hulu

Initial bids are in for online media's most talked-about sale, Hulu, and sources tell the Los Angeles Times that El Segundo's DirecTV, longtime News Corp. executive Peter Chernin's Chernin Group and Guggenheim Digital Media are among the bidders.

News Corp. Board Approves Split

News Corp.'s board on Friday approved the media giant's separation into two publicly traded entities, the Wall Street Journal reports. The Financial Times said directors also adopted a “poison pill” to avoid any challenge to Rupert Murdoch’s near-40 per cent voting control in his family media empire.

New Health Insurance Rates Unveiled

California health officials on Thursday announced the likely rates that insurers will charge under the new federal health-care law, and they are lower than expected, the Los Angeles Times reports.

Ripley's Gets Makeover

The Ripley's Believe It or Not museum in Hollywood just completed a $3.5-million renovation in an effort to broaden and increase its potential audience this summer, the Los Angeles Times reports.

Long Beach Port Chief Heads to Oakland

Port of Long Beach officials said Thursday that Executive Director Christopher Lytle is leaving the nation's second busiest seaport for the top post at the Port of Oakland, the Long Beach Press-Telegram reports.

Light-Rail Station in Leimert Park Gets Funding

The Metropolitan Transportation Authority on Thursday approved $80 million for an underground station at Leimert Park Village. Supporters hope it will help revitalize the historic African American business corridor, the Los Angeles Times reports.

How Herbalife's CEO Fought Back

Bloomberg BusinessWeek explains how Herbalife Chief Executive Michael Johnson met the most recent charges that the L.A. nutrition company runs a pyramid scheme among its direct distributors.

Google Dominance in Online Display Ads Under Scrutiny

The U.S. Federal Trade Commission is in the early stages of probing whether Google has been using its leadership in the online display-advertising market to illegally curb competition, according to AdAge.com.

Troubles Increase at Zell's Firm

In the latest major shake-up at former Los Angeles Times owner Sam Zell's Equity International real-estate investment firm, three senior executives resigned this week, which the Wall Street Journal says raises new questions about the firm's future.

P&G Chief Replaced by Former Boss

Procter & Gamble Co.’s A.G. Lafley has rejoined the company as president and chief executive, replacing Robert McDonald, the Wall Street Journal reports.

Underwater Borrowers Become Accidental Landlords

Even with the housing market slowly recovering, CNBC reports about the continuing trend of "accidental landlords," most of them "underwater" homeowners who felt they couldn't afford to sell their homes when they moved on.

Rhythm & Hues Breakup Fee Approved

JS Communications will receive a $300,000 breakup fee for agreeing to be the stalking-horse bidder during the auction of L.A. effects shop Rhythm & Hues, TheWrap.com reports.

Markets Continue Slide

In Friday morning trading, the Dow Jones industrial average was down 61 points to 15,233. The Nasdaq fell 19 points to 3,440. The S&P 500 fell 9 points to 1,641.

Thursday, May 23

Oaktree Prices Secondary Offering

Oaktree Capital Group LLC has priced its secondary offering of 7 million shares at $53.50 a share, the company said Thursday.

Obituary: Attorney Leonard Kalcheim

Leonard Kalcheim, a longtime Los Angeles business attorney, died May 22 after along illness. He was 74.

Markets Drop

In Thursday trading, the Dow Jones industrial average was down 13 points to 15,295. The Nasdaq fell 4 points to 3,459. The S&P 500 dropped 5 points to 1,651. The LABJ stock index was down a point to 166.

Fed's Mixed Messages Roil Markets

Fed Chairman Ben Bernanke's comments on bond buying sent the Dow Jones index into a 250-point swing as investors feared the beginning of the end for stimulus efforts, the Los Angeles Times reports.

Initial Jobless Claims Fall

Fewer Americans are applying for unemployment benefits, according to the newest numbers out of the Labor Department on Thursday, USA Today reports. Initial jobless claims dropped by 23,000 last week as more signs point to a recovery in the American job market.

Sony Board to Discuss Third Point Plan

Struggling Japanese conglomerate Sony Corp. said its directors have started preliminary discussions on what to do about a proposal from activist hedge-fund investor Daniel Loeb to take part of the company's entertainment business public, The Wall Street Journal reports.

What’s Next for Pot Shops?

The overwhelming approval of Proposition D on Tuesday's ballot – and the rejection of two competing proposals – could result in the shutdown of hundreds of marijuana dispensaries in Los Angeles, the Los Angeles Daily News reports.

Garcetti's Victory Attributed to San Fernando Valley

City Controller Wendy Greuel's lackluster performance in the San Fernando Valley and with women voters in Tuesday's Los Angeles mayoral election, along with Councilman Eric Garcetti's strong backing from whites and Republicans in the city, were key factors in Garcetti's victory, the Los Angeles Daily News reports.

The Incredible Vanishing Subsidiary

Companies across industries are taking advantage of Securities and Exchange Commission rules that demand disclosure only when subsidiary operations are "significant," The Wall Street Journal reports. One result is that companies limit information about offshore operations, in particular units operating in countries regarded as tax havens.

AEG Exec Called Michael Jackson 'Freak' Before Signing

A top AEG executive referred to Michael Jackson as "a freak" and another called him "creepy" just hours before their company signed the pop icon to a huge concert deal, CNN reports.

‘The Hangover Part III’ Gets Early Start on Memorial Day Showdown

Warner Bros. kicked off what could be a record-breaking Memorial Day weekend, with “The Hangover Part III” launching Wednesday night, Variety reports. But the three-quel competes squarely against Universal’s Friday opener, “Fast and Furious 6,” which tracking suggests will win the weekend.

Tesla Repays a Big Federal Loan Early

The taxpayer no longer has to worry about Tesla Motors, The New York Times reports.

Cannes Crime Spree Continues

Following last week’s news of the high-profile, $1 million Chopard heist and the burglary of Zhang Qiang’s rented apartment, there are reports of new victims, according to the Hollywood Reporter.

Stocks Down Early

In Thursday morning trading, the Dow Jones industrial average fell 60 points to 15,247. The Nasdaq was down 16 points to 3,448. The S&P 500 fell 12 points to 1,644.

Wednesday, May 22

Mattel to Move 100 Fisher-Price Jobs to El Segundo

Mattel Inc. on Wednesday announced it will move 100 positions at its Fisher-Price division from New York to the toymaker’s El Segundo headquarters in coming months.

Auto Club Agrees to $70 Million Rate Reduction

State Insurance Commissioner Dave Jones and the Automobile Club of Southern California on Wednesday announced a roughly 4 percent reduction in auto insurance rates for policies that are written or renewed after July 1.

Markets Fall at Close

In Wednesday trading, the Dow Jones industrial average closed down 80 points to 15,307. The Nasdaq fell 39 points to 3,463. The S&P 500 fell 14 points to 1,655. The LABJ Stock Index fell 2 points to 167.

Edgecast Shops for E-Commerce Clients

The Santa Monica company has created a special network for delivering e-commerce data to computer screens.

Tease photo

Bill Gross Looks to Repeat Ad Success

Idealab company UberMedia on Wednesday launched UberAds, a mobile advertising platform that seeks to make ads on phones and tablets more relevant to people.

Tease photo

Garcetti Beats Greuel

City Councilman Eric Garcetti's relentless campaigning paid off Tuesday as he decisively won a hard-fought race to become Los Angeles' next mayor, the Los Angeles Times and Los Angeles Daily News report.

Prop. D in the Lead

One of three ballot measures that seek to regulate the number of pot dispensaries in the city of Los Angeles was leading early Wednesday, the Los Angeles Times and Los Angeles Daily News report. Propostion D would reduce the number of pot shops from about 700 to 130 by allowing only those that opened before adoption of a failed 2007 city moratorium on new dispensaries.

Trutanich Ousted as L.A. City Attorney

Challenger and former Assemblyman Mike Feuer has denied L.A. City Attorney. Carmen Trutanich another term, the Los Angeles Times and Los Angeles Daily News report.

IRS Tea-Party Bloodbath Continues in Congress

The U.K.'s Daily Mail takes a look at the House committee’s hearing on targeting of conservative groups by the Internal Revenue Service, noting that at least on this issue both sides of the aisle are castigating the IRS for targeting groups with special scrutiny, and then hiding the practice from Congress.

Immigration Bill Advances

A Senate committee on Tuesday approved a sweeping immigration reform bill that provides a path to citizenship for up to 11 million illegal immigrants. The full Senate may possibly consider the landmark legislation next month, the Washington Post reports.

Low-Rated Channels Rebrand

At least six cable channels are changing their names and programming this year to attract more viewers, advertising dollars and higher subscriber fees. Pay-TV operators like DirecTV and Time Warner Cable aren’t pleased, and Bloomberg BusinessWeek explains why.

Little Summer Break at U.S. Auto Factories

Detroit automakers are largely forgoing the traditional two-week summer break at their factories, and speeding up production to meet buyers' growing demand for new cars and trucks, the Associated Press reports.

'Offshore' Money Can Include Manhattan

In the world of corporate tax accounting, money that is technically overseas often is held in American banks, the New York Times reports.

Kohl's Can Be Sued Over Sale Ads

The U.S. 9th Circuit Court of Appeals on Tuesday said that Kohl's Department Stores and other California retailers may be liable for large money awards if they falsely advertise that their products are on sale, the Los Angeles Times reports.

Sony Board to Discuss Spin-off

Sony's board will examine the proposal from a U.S. hedge fund to sell off a stake in its entertainment division, but refused to give a timetable for when it would reply, the Hollywood Reporter says.

Phone Firms Sell Customer Data

Big phone companies have begun to sell the vast amounts of data they gather about their subscribers' locations, travels and Web-browsing habits, which the Wall Street Journal reports may be a treasure trove for marketers but raises new privacy concerns.

Chinese Buying Big in U.S.

While recent news about Chinese investment in the United States has focused on deals that don't get done, Chinese investment here actually is at an all-time high, CNBC reports.

Markets Up This Morning

In Wednesday morning trading, the Dow Jones industrial average was up 77 points to 15,465. The Nasdaq rose 14 points to 3,516. The S&P 500 rose 10 points to 1,679.

Tuesday, May 21

ESPN Announces Layoffs

Cable sports network ESPN will lay off about 400 workers as part of cost-cutting efforts by parent company Walt Disney Co. of Burbank.

Herbalife Hires New Auditor

Herbalife Ltd. on Tuesday said it hired PricewaterhouseCoopers LP as its new auditor, more than a month after KPMG LLP resigned when an L.A. partner was charged with insider trading.

American States Water Announces Stock Split

American States Water Co. on Tuesday said that it will implement a two-for-one stock split this summer.

TCP Capital Prices Stock Sale

Shares of TCP Capital Corp. fell more than 3 percent on Tuesday after the business investment and development company priced a $70.3 million stock offering below the previous day’s closing price.

Markets Rise

In Tuesday trading, the Dow Jones industrial average closed up 52 points to 15,388. The Nasdaq rose 6 points to 3,502. The S&P 500 rose 3 points to 1,669. The LABJ Stock Index rose 1 point to 169.

Burstly Reorganizes After Acquisition

On Tuesday, the Santa Monica company announced that it has become the parent for a line of three mobile services.

Why Does L.A. Tech Love Eric Garcetti?

Garcetti has been working since the earliest days of his candidacy to become the crown prince of Silicon Beach.

Tease photo

UCLA Hospital Hit by Walkout

Ronald Reagan UCLA Medical Center is among five university medical centers around the state to be hit by today’s walkout by workers over contract issues, the Los Angeles Times reports.

Bryan Shaw Pleads Guilty in KPMG Case

A San Fernando Valley jeweler pleaded guilty on Monday to a conspiracy charge and agreed to turn over $1.27 million in gains made from tips from a top auditor at accounting giant KPMG, the Los Angeles Times reports.

L.A. Mayoral Race to Be Decided Today

Angelenos go to the polls to elect a new mayor, but many voters have struggled to detect major differences between the two candidates, apart from the fact that one is a man and the other is a woman, the Wall Street Journal reports. For the still-undecided, check out endorsements by the Los Angeles Times and the Business Journal.

Edison to Pay $37 Million in Wildfire Settlement

Southern California Edison Co. on Monday agreed to pay $37 million related to the overloaded utility poles that sparked the 2007 Malibu Canyon fire, the Los Angeles Times reports.

Getting Their Share of the Whey Windfall

Farmers want an overhaul of California’s milk-pricing formula to give them more for a dairy byproduct that has become a profit center for cheese makers, the Los Angeles Times reports.

Didn’t Yahoo Try a Deal Like This Before?

Yahoo’s billion-dollar deal for Tumblr raises questions about the web portal's ability to make money by selling ads, among other thorny issues, the New York Times reports.

UTA's New Screening Room Gets Rave Reviews

United Talent Agency new headquarters in Beverly Hills features a digital theater that seats 165 people in plush banquettes and has 3-D projection capabilities. In the highly competitive industry, the new digs could force talent agency rivals to respond, the Los Angeles Times reports.

BlackRock Fills Real Estate Hole in Holdings

BlackRock Inc. on Tuesday said that it will buy investment firm MGPA in a bid to bulk up its real estate assets worldwide, Wall Street Journal reports.

Liberty Global Considers Sale of TV Channels

John Malone's international cable business has put its Chellomedia television-channel business up for sale, which could lead to a deal valued at between $800 million and $1 billion, sources tell the Wall Street Journal.

Disabled Actors Protest Casting Practices

Disabled actors contend that routinely casting an actor who is abled-bodied in a role where the character is disabled — as has happened in the upcoming revival of "Ironside" — is as offensive as blackface, TheWrap.com reports.

Gold Under Pressure

Gold prices are falling again in global markets today, Reuters reports. An expert tells Yahoo Finance's Breakout blog he’s amazed by the disposal of more than 600,000 pounds of gold held in exchange-traded funds so far this year.

Markets Mixed

In Tuesday morning trading, the Dow Jones industrial average was up 12 points at 15,347. The Nasdaq rose 1 point at 3,497. The S&P 500 was down 1 point at 1,665.

Monday, May 20

Roll Sells Mandarin Brand, Moves from Cute to Wonderful

Beverly Hill’s Roll Global LLC, the California agricultural empire led by the billionaire couple Stewart and Lynda Resnick, has sold the “Cuties” trademark for its seedless mandarin oranges.

Ziff Davis Buys Tech Publication Business

J2 Global Inc.’s Ziff Davis unit on Monday said that it had acquired tech content online network NetShelter from San Francisco ad platform InPowered.

OSI Expects Debarment Notice From DHS

Shares of OSI Systems Inc. fell Monday after the company said its Rapiscan security unit expects to receive a debarment notice from the Department of Homeland Security related to its airport scanner software.

Carlyle to Sell Part of Wesco Stake

Carlyle Group, the largest investor in Wesco Aircraft Holdings Inc., is selling off a portion of its holdings in the Valencia aircraft parts distributor through a secondary offering of common stock.

Live Nation in Singapore Joint Venture

Live Nation Entertainment Inc. on Monday said that it has formed a joint venture with Singapore’s Lushington Entertainments to promote live concerts in Hong Kong and Singapore.

Markets Drop at Close

In Monday trading, the Dow Jones industrial average closed down 19 points to 15,335. The Nasdaq fell 3 points to 3,496. The S&P 500 fell 1 point to 1,666. The LABJ Stock Index fell 1 point to 168.

Mobile Marketing Firm Mogreet Agrees to Purchase by Payvia

Mobile payment company Payvia announced Monday it acquired text message marketing platform Mogreet. The companies did not disclose terms of the deal.

Yahoo Buys Tumblr for $1.1 Billion

Yahoo! Inc. will buy blogging network Tumblr Inc. for about $1.1 billion, as Chief Executive Marissa Mayer seeks to lure users and advertisers with her biggest acquisition to date, Bloomberg News reports. The New York Times says many Tumblr users are apprehensive about the deal, despite Yahoo's promise "not to screw it up.”

DirecTV Eyes Hulu

El Segundo's DirecTV, the nation's largest U.S. satellite TV provider, is interested in acquiring at least a stake in online-video site Hulu LLC, sources tell Bloomberg News.

United Resumes Dreamliner Flights

United Airlines on Monday began getting its 787s back in the air, four months after the Boeing model was grounded around the world because of smoldering batteries and other emergencies on 787s owned by other airlines, the Associated Press and CNBC report.

Studios Go Bold in Growth Plans

Film counts are down. Production is going elsewhere. But several of the biggest L.A. studios plan to build sound stages, post-production facilities and offices in what might become the most aggressive growth spurt in recent Hollywood memory. The New York Times looks at why. Also see the Business Journal’s previous coverage on the expansion plans.

Deborah Turness to Lead NBC News

After nearly three months without a news division leader, NBCUniversal on Monday named former ITV News editor Deborah Turness as president of NBC News, the Hollywood Reporter says.

St. John's Picks Providence Health

After months of controversy and a bidding war featuring everyone from UCLA Health System to biotech billionaire Patrick Soon-Shiong, the Sisters of Charity of Leavenworth Health System said that it will sell Santa Monica's St. John's Health Center to Providence Health & Services, a Catholic chain with a strong local presence, the Los Angeles Times reports.

Employers Eye Bare-Bones Health Coverage

Employers are increasingly recognizing that they may be able to avoid certain penalties under the federal health law with very limited plans that can lack key benefits like hospital coverage, the Wall Street Journal reports. In addition, the Los Angeles Times reports that income fluctuations could interrupt coverage for 28 million low-income people who could bounce between Medicaid and insurance exchanges.

Are Oil Prices Out of Sync with the Market?

Prices of many commodities are down this year, but U.S. oil futures have rallied, reflecting the scramble for investments that offer more potential for higher returns than those shackled to rock-bottom interest rates. Skeptics tell the Wall Street Journal that the mismatch is a sign of trouble.

California's 'Hydrogen Highway' Turns Mirage

There once was a plan that every Californian would have access to a hydrogen fueling station by the end of 2010. But instead, only nine hydrogen stations are open for the public in the Golden State and only about 200 fuel-cell cars are in operation that can use them, Reuters reports.

Return of the Dust Bowl?

Parts of the vast High Plains Aquifer, once a prodigious source of water, are now so low that crops cannot be watered and bridges span arid stream beds, which the New York Times reports has been an economic and ecological disaster several decades in the making.

Pinterest Sticks It to Flicks

Pinterest, the social site that lets users share image "pins" of stuff they like, is teaming with Netflix, Rotten Tomatoes and Time Warner's Flixster to serve up more info on movies that fans stick on their boards, Variety reports.

Desk Phone's Demise Means No End to Workday

While consumers have been cutting the cord on landlines for years, businesses are joining the trend at an accelerating rate, thanks to the increasing capabilities of mobile phone devices, Bloomberg News reports.

Markets See Morning Gains

In Monday morning trading, the Dow Jones industrial average was up 11 points to 15,365. The Nasdaq rose 5 points to 3,504. The S&P 500 rose 2 points to 1,670.

Hitting ’Em Where They Live

OP-ED: L.A.’s lack of affordable housing hinders businesses in drawing from skilled pool of employees.

Raphael Bostic, Robin Hughes and Tony Salazar urge L.A. businesses to home in on affordable housing for workers.

Future of Effects

‘Previs’ looks to ride blockbuster trend

Previsualization firms are getting a piece of the Hollywood action as effects-heavy movies make big box office.

Tease photo

Inhalable Insulin Has Investors Breathing Heavy

HEALTH CARE: Expected FDA approval pumps up shares of MannKind.

Investors breathless over outlook for approval of MannKind’s inhalable insulin. 5

Tease photo

Data Bank

Calendar and Events

News of the Week

Last week’s major news from labusinessjournal.com and other sources

Maker of Frozen Cuisine Hot Item for Acquisition

FOOD: Overhill Farms bought for $81 million by Minnesota’s Bellisio.

Investors warmly greet acquisition bid for Overhill Farms by another maker of frozen fare.

Homebuilder Rises as It Moves Back Into Markets

CONSTRUCTION: Stock of Ryland buoyed by run of recent acquisitions.

Ryland is building momentum as it buys back into markets the company fled during the downturn.

Regional Report

News and notes from communities across Los Angeles County

Let’s Go Surfing Now — But Watch Out for the Stingray

When Eric Sikola’s company, ExpenseCloud, moved to its new Santa Monica office last year, he instituted the most Santa Monica-appropriate worker perk possible: surfing lessons.

Grounds For Growth

Supreme Bean takes chilled, bottled coffee to supermarket chain.

Supreme Bean hopes its glass act plays with customers as its bottled brew hits Whole Foods shelves.

Startup Goals Stay Private

COMMENT

L.A.’s tech companies are creating many things, but public stock probably won’t be among them, Charles Crumpley writes.

Developer Clears Out of Mixed-Use Complex

SALE: Thomas Properties sheds El Segundo project in $48.1 million deal.

Thomas Properties Group Inc. has sold a large El Segundo site on which it had planned to build a nearly 2 million-square-foot mixed-use complex for $48.1 million.

Not Just Raking In Cookie Dough

USC students behind Kuki Squared add philanthropy to mix.

USC business students take a lesson from Toms Shoes with a philanthropic approach to selling cookies.

Digital Media’s Expansion Spurs Firm’s Growth Plan

LAW: Manatt Phelps sees enough opportunity to create industry division.

Manatt Phelps & Phillips courts digital media firms with a new division that includes a venture fund.

Video App Lost Facebook, Focus

INTERNET: Viddy retrenching after failing to meet Web hype.

Video app Viddy has pared back and refocused after sky-high predictions for its future failed to develop.

Tease photo

Workplaces Hit Close to Home

REAL ESTATE: Neighbors knock using condos for business.

Some condo homeowners associations are trying to stop residents from using their units as offices.

Tease photo

Auctioneer Has Lots in Its Pouch

Nate D. Sanders house handling items from ‘Captain Kangaroo.’

Huge collection of items from classic kids’ show “Captain Kangaroo” gets local house hopping.

Tease photo

Soundtrack Technology Looks to Torpedo Pirates

SECURITY: Cinavia code stops Blu-ray players from accessing stolen content.

Sony Pictures Entertainment and its studio counterparts are trying to turn pirates into paying customers.

Step by Step

APPAREL: Isack Fadlon wants to see if Sportie L.A.’s new clothing and accessories line has legs before stepping back into footwear.

Shoe vendor Isack Fadlon sees launching a clothing line as a crucial step before creating footwear.

Tease photo

Incubator Throws In With Disposable Products

BIOPLASTICS: Maker of compostable cups, utensils joins clean tech facility.

LA Cleantech Incubator heaps praise on latest member: a maker of compostable cups and utensils.

Business Holds Up ‘Congestion Fees’

DEVELOPMENT: Groups warn transit levies will lead nowhere.

Business leaders say the county is trafficking in a bad idea with “congestion fees” to fund transit projects.

Tease photo

Former Clients to Get Convicted Accountant’s Files

INVESTIGATION: Plaintiffs hope hard drives will help lawsuits against bank.

Politicians and campaign organizations suing a local bank over money stolen by campaign accountant Kinde Durkee could get their hands on more evidence in coming weeks.

Tease photo

Senior Service to Get Health Care Moving

OP-ED

David Allerby sees smaller, nimbler companies having a big impact on treatment of elderly.

Friday, May 17

L.A.’s Unemployment Rate Dips Into Single Digits

Los Angeles County’s economic recovery notched a milestone in April when the unemployment rate fell to 9.9 percent, the first time it was below 10 percent since December 2008, according to state figures released Friday.

Sale of Carson Refinery Approved

Tesoro Corp. on Friday said it received approval from state and federal regulators to buy BP Plc’s oil refinery in Carson and other assets.

Iger Makes $39.7 Million on Disney Stock Sale

Bob Iger’s salary was $40.2 million last year. But he made nearly as much in a day with a recent stock sale.

Puma, Mannkind Among Week’s Biggest Movers

The Los Angeles Business Journal’s index of largest local public companies continued to gain this week, in line with the larger markets.

Markets Rise

In Friday trading, the Dow Jones industrial average closed up 121 points to 15,354. The Nasdaq rose 34 points to 3,499. The S&P 500 rose 16 points to 1,666. The LABJ Stock Index rose 1 point to 169.

David Beckham to Retire

Former L.A. Galaxy star David Beckham will retire from soccer at the end of the season, closing a 21-year career in which he won titles in four countries, Bloomberg News reports

Report: Yahoo Eyeing Tumblr for $1 Billion

Yahoo is trying really hard to be cool again and it's hoping that blogging site Tumblr can help, All Things D and CNBC report.

State Cuts Hours for Jobless Hotline

The California Employment Development Department has directed call center workers to not answer its benefits hotline after lunch, the Los Angeles Times reports. The service cutback is the result of sequestration.

Cedars-Sinai's Pricing Stands Out

When Medicare disclosed average charges from U.S. hospitals for common procedures last week, only one hospital was near the top in every category: Cedars-Sinai Medical Center, the Los Angeles Times reports.

Bill Gates Retakes World’s Richest Title

Forbes magazine still may say Mexican investor Carlos Slim is the world's richest person, but the latest Bloomberg Billionaires Index contends that Microsoft founder Bill Gates has regained the top spot, Bloomberg News reports.

Sales Drop at Wal-Mart, Kohl’s, Nordstrom

Some of the biggest names in retail had a tough first quarter as cautious consumers reduced spending, ABC News and the New York Times report.

Sriracha Rooster Invades Pop Culture

Bart Simpson loves the incredibly popular made-in-Rosemead Asian condiment, and Lay's recently produced a Sriracha potato chip inspired by the pho-restaurant staple, the Los Angeles Times reports.

Frankfurt Ban on Night Flights Aids Dubai

Frankfurt, which won't let jetliners take off between 11 p.m. and 5 a.m., is among several of Western Europe’s once undisputed hubs seeing a steady erosion of status: squeezed from the one end by a lack of expansion space and stricter rules, and from the other by more passenger friendly airports in the Middle East, Bloomberg News reports.

Hackers Hit Financial Times

The Financial Times said several of its blogs and social-media accounts were hacked on Friday by a group calling itself the Syrian Electronic Army, the Wall Street Journal reports.

California Fuels $550 Million Powerball Jackpot

Powerball fever has come to the Golden State, as officials expect the jackpot to keep growing before Saturday's drawing to break the previous record of $587 million, the Associated Press and Los Angeles Times report.

Markets Rebound This Morning

In Friday morning trading, the Dow Jones industrial average was up 66 points to 15,299. The Nasdaq rose 15 points to 3,481. The S&P 500 rose 8 points to 1,658.

Thursday, May 16

Ticketmaster Settles Lawsuit Over Rewards Program

Ticketmaster will settle claims for up to $23 million, after customers claimed they were charged $9 a month for a rewards program when they bought concert tickets but did not get any benefit, according to a news report.

Wesco Awarded Airbus Contract

Valencia aerospace parts supplier Wesco Aircraft Holdings Inc. has received a contract to supply European aircraft manufacturer Airbus SAS with fasteners and hardware components.

Markets Fall

In Thursday trading, the Dow Jones industrial average closed down 42 points to 15,233. The Nasdaq fell 6 points to 3,465. The S&P 500 fell 8 points to 1,650. The LABJ Stock Index fell 2 points to 168.

IRS Scandal Fells Chief

President Obama on Wednesday forced the resignation of the acting commissioner of the Internal Revenue Service in connection with the inappropriate targeting of conservative political groups, the Wall Street Journal reports.

Tribune Newspapers Attract Suitors, 'Noise'

Some 40 parties have expressed interest in acquiring some or all of Tribune Co.’s newspapers, sources tell the Chicago Tribune. The Los Angeles Times is among the publications on the block. But Chief Executive Peter Liguori emailed employees on Wednesday, calling speculation about a transaction premature.

Loeb Exits Herbalife Fight

Activist investor Daniel Loeb‘s Third Point LLC has sold off its widely publicized stake in L.A.'s Herbalife Ltd., the Wall Street Journal reports, even as a study of analyst recommendations at major brokerages shows that Herbalife is a top pick among stocks screened for strong stock buyback activity, Forbes says.

Woodland Hills Office Park Sold

The 26-acre Warner Center Corporate Park in Woodland Hills and another nearby office property have been acquired by Adler Realty Investments Inc. and LLJ Ventures for $80 million, the Los Angeles Times reports.

The Big Role of Billboards in L.A.'s City Election

Billboard companies, which want new rules allowing them to install more digital billboards in Los Angeles, are donating thousands of dollars worthof signs to promote candidates in the May 21 city election, the Los Angeles Times reports. One of them, Lamar, has financed scores of billboards for mayoral candidate Wendy Greuel and city controller hopeful Dennis Zine, among others.

Market Gains Boosted CEO in 2012

The Wall Street Journal's annual executive compensation survey says boards kept their chief executive's pay largely flat last year, but top execs still took home more money than the year before because a bull market swelled the value of prior stock-based pay.

White-Collar Workers Turn Unions

Mobilized by a tough economy, some experts see professional workers — from lawyers to insurance agents — as the future of the labor movement in a market where white-collar employment is increasing and manufacturing opportunities are steadily diminishing, the Los Angeles Times reports.

Can eHarmony Help You Find a Job?

The Santa Monica-based online dating site thinks so. EHarmony plans to launch a career service by the second half of next year, Yahoo's Daily Ticker reports.

Univision, Telemundo Pitch Audience to Advertisers

The Los Angeles Times reports that the two major Spanish-language television companies this week delivered an unusual, but potentially compelling pitch to advertisers: Our viewers watch our programs live and thus don't fast-forward through the commercials.

Former Merv Griffin HQ Sold to Kuwait

The government of Kuwait has bought the former offices of entertainer and business mogul Merv Griffin in downtown Beverly Hills, where the country is expected to move its local consulate, the Los Angeles Times reports.

More Brands Want You to Model Their Clothes

Online apparel retailers are hitting the social networks after discovering that showing their clothing on real people causes customers to engage more and buy more often, the Wall Street Journal reports.

Newsweek Redesign Plans New Browser-Based Experience

Newsweek, which shut down its U.S. print edition last year and survives primarily as a tablet edition, is now working toward a new long-form, immersive and multi-media experience in the web browser, with interesting opportunities for potential advertisers, Advertising Age reports.

Berkshire Downgrade Likely to Have Little Effect

When Berkshire Hathaway lost its AAA credit rating amid the financial crisis, the move had no effect on its borrowing costs, and that’s likely to be the case again after Thursday’s cut by S&P;, the Wall Street Journal reports. The ratings company was troubled by Berkshire's dependence on its core insurance operations for most of its dividend income, CNBC says.

Markets Up in Morning Activity

In Thursday morning trading, the Dow Jones industrial average was up 14 points to 15,290. The Nasdaq rose 10 points to 3,481. The S&P 500 was unchanged at 1,659.

Wednesday, May 15

L.A. Port Numbers Fall, Long Beach’s Rise

The Port of Los Angeles saw container volume fall more than 9 percent in April compared with a year earlier, while the Port of Long Beach saw a 13 percent increase.

Kite Pharma Gains New Backer

Kite Pharma Inc., a cancer drug developer, has raised $20 million in a private placement of preferred stock that included its existing backers and a new investor.

Skechers Swings to Profit

Skechers USA Inc. said that it moved to a profit in the first quarter, as sales increased for its performance footwear.

Ryland Raises $250 Million in Note Offering

Westlake Village homebuilder Ryland Group Inc. on Wednesday sold $250 million in a convertible note offering.

PacWest, First California Merger Gets Final Approval

Century City’s PacWest Bancorp has received final approval from federal regulators for its $231 million stock acquisition of Westlake Village’s First California Financial Group Inc.

Markets Gain on Wednesday

In Wednesday trading, the Dow Jones industrial average rose 60 points to close at 15,276. The Nasdaq rose 9 points to 3,472. The S&P 500 rose 8 points to 1,659. The LABJ Stock Index rose 1 point to 170.

Pheed App Heads to Android

Pheed quietly made the Android version of the app available for download earlier this week.

Tease photo

Manatt Launches Digital Media Investment Arm

Manatt announced Wednesday that it has brought on technology entrepreneur and digital media veteran Peter Csathy to run the investment operation, Manatt Digital Media Ventures.

Tease photo

Bellisio Foods to Buy Overhill Farms for $81 Million

Bellisio Foods Inc. on Wednesday said that it has agreed to buy Vernon frozen foods supplier Overhill Farms Inc. for about $81 million in cash.

St. John's Bidding War Escalates

A high-stakes bidding war has emerged for Santa Monica's St. John's Health Center, with biotech billionaire Patrick Soon-Shiong teaming up with the Roman Catholic Archdiocese of Los Angeles on an unsolicited offer, the Los Angeles Times reports.

Long Beach to Sue L.A. Over Railyard Project

The Long Beach City Council voted 9-0 on Tuesday to sue Los Angeles over the Southern California International Gateway railyard, which local leaders said will hurt nearby Long Beach neighborhoods, the Long Beach Telegram reports.

North Carolina Wants to Ban Tesla Cars

A bill moving through the North Carolina state legislature would make it illegal for Tesla — or any other car manufacturer — to sell cars directly to consumers in the state, ABC News and Autoworld News report.

Fungus Threatens Coffee Prices

An orange-colored fungus called roya, or coffee-leaf rust, is hurting production of certain gourmet coffee beans across Latin America and is expected to offset other factors that had been driving down the price of coffee for consumers, the Wall Street Journal reports.

Unions Protest Potential Sale of Times to Koch Brothers

About 300 labor union members and other activists staged a demonstration in front of Oaktree Capital Management on Tuesday, protesting the potential sale of the Los Angeles Times to the politically conservative Koch brothers, the Times reports.

Negligence Debated in Jackson Death Suit

After only two weeks of testimony, no side has a clear advantage in the civil trial pitting the mother of Michael Jackson against concert promoter A.E.G. Live over the question of who was responsible for Jackson’s death, the New York Times reports.

How Small Business's Anti-Obamacare Message Was Funded

Americans hold small business in higher regard than any institution other than the military. Bloomberg BusinessWeek reports that the insurance industry took advantage of this to launder its message that national health care reform was a bad idea.

Longer Benefits Keep People Jobless?

A Federal Reserve Bank of San Francisco argues that, despite some conventional wisdom, giving unemployed Americans extended jobless benefits of up to 99 weeks actually didn't prevent them from taking jobs, CNBC reports.

Markets Gain in Morning

In Wednesday morning trading, the Dow Jones industrial average was up 25 points to 15,240. The Nasdaq rose 10 points to 3,472. The S&P 500 rose 4 points to 1,654.

Tuesday, May 14

Ernst & Young Names Entrepreneur of the Year Finalists

Ernst & Young LLP has announced the Los Angeles area finalists for its Entrepreneur of the Year award.

Casden Sells Apartment Complex in Burbank

Struggling Beverly Hills real estate developer Alan Casden has sold a 276-unit luxury apartment complex in Burbank that he built in 2010.

Markets Rise

In Tuesday trading, the Dow Jones industrial average was up 123 points to 15,215. The Nasdaq rose 24 points to 3,463. The S&P 500 rose 16 points to 1,650. The LABJ Stock Index rose 1 point to 169.

StyleHaul Raises $6 Million More

StyleHaul announced Tuesday that it has raised $6 million from RTL Group, a TV and radio broadcaster out of Luxembourg.

North America Sets Off Oil Supply Shock

The boom in North American energy, primarily related to shale in the United States and oil sands in Canada, is one of the biggest stories in the global economy, the Business Insider and BBC News report. Over the next five years, the United States alone will account for a third of new oil supplies, according to a new study.

Facebook 'Home' Becomes High-Profile Disappointment

AT&T; reportedly plans to discontinue the HTC First — the first smartphone to ship with Facebook Home pre-installed — and send unsold inventory back to HTC, sources tell Fox News and the San Jose Mercury News.

Disney Not So 'Brave'

Brenda Chapman, director of Brave prior to being replaced during production, doesn't like how Disney has sexed up the film's feisty, outdoorsy heroine Merida to better fit its line of princesses, the Hollywood Reporter and IGN.com report.

Loeb Pushes Sony to Take Entertainment Unit Public

Sony Corp.'s stock rose 9 percent this morning after it was disclosed that Daniel Loeb, chief executive of activist New York hedge fund hedge fund Third Point, proposed that the company take its entertainment unit public, the Wall Street Journal and Los Angeles Times report.

Small Business Owners Slightly More Upbeat

The National Federation for Independent Business said small-business owners were more optimistic about the economy in April, but "pessimism abounds" in a sector that is barely growing, the Los Angeles Times reports.

Andreessen: We Are Living Through a 'Tech Depression'

Private tech companies are steering clear of going public as long as they can manage, Marc Andreessen, the co-founder of the venture capital firm Andreessen Horowitz, tells CNBC, so don't expect a game-changing tech initial public offering anytime soon.

Can Wall Street Live Without Bloomberg?

Even if trading firms aren't likely to dump their Bloomberg terminals anytime soon, Wall Street pros say the firm still faces long-term damage to its brand credibility from its privacy breach scandal, CNBC and the New York Times report.

Big Four Carriers Unite on Anti-Texting Ads

The country's four biggest cellphone companies this summer will launch their first joint advertising campaign against texting while driving, uniting behind AT&T;'s "It Can Wait" slogan, the Associated Press reports.

Markets Rise this Morning

In Tuesday morning trading, the Dow Jones industrial average was up 74 points to 15,166. The Nasdaq rose 26 points to 3,465. The S&P 500 rose 13 points to 1,647.

Monday, May 13

Teledyne Dalsa Buys Dutch Chip Maker

A Canadian unit of Teledyne Technologies Inc. has bought a Dutch semiconductor company that makes high-performance integrated circuits for image-sensor and camera products.

Tryperion Partners Raises $50 Million Fund

Tryperion Partners LLC, a West L.A. real estate investment and advisory firm announced Monday that it had closed its first $50 million fund.

Alexandria Real Estate Plans Stock Sale

Alexandria Real Estate Equities Inc. late Monday said that it plans to pay down debt by selling 6 million new common shares in a public offering.

Markets Mixed at Close

In Monday trading, the Dow Jones industrial average closed down 27 points to 15,092. The Nasdaq rose 2 points to 3,439. The S&P 500 rose less than 1 point to 1,634. The LABJ Stock Index rose less than 1 point to 168.

Spark Shares Climb on Analyst Attention

Shares of the Beverly Hills Internet dating company closed at their highest price yet on Monday following the news that two investment banks had initiated Spark coverage.

TV Networks Invest in More Pilots

Development of many more potential new shows this year is an indication that networks are scrambling to find hits as aging giants like Fox's "American Idol" lose viewers and broadcast TV faces increasing competition from online outlets, the Wall Street Journal and New York Times report.

Smaller Airports See Biggest Cuts in Flights

Mid-size airports — including Bob Hope Airport, John Wayne Airport and L.A./Ontario International Airport — lost an average of 26 percent of their flights from 2007 to 2012, largely due to airline mergers, a deep recession and higher fuel prices, the Los Angeles Times reports.

IPOs Set to Raise Most Cash Since Downturn

U.S. companies are on track this year to raise the most money through initial public offerings since before the financial crisis, the Wall Street Journal reports.

Local Gas Prices on the Rise

The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Sunday for the ninth consecutive day, increasing 1.7 cents to $4.071, the Los Angeles Daily News reports. The L.A. County average price is the fifth-highest in the state.

Why Do Cable Execs Still Want Broadcast Jobs?

In an era where cable offers more freedom and a far healthier revenue stream, the desire to move from cable to broadcast seems altogether bizarre. And yet industry execs continue to make the switch, the Hollywood Reporter says.

Female Tech Entrepreneurs Flourish in L.A.

Unimpeded by the Bay Area's cliquish male programmer culture, women are using their expertise in retail, entertainment, advertising and media to build digital companies in the Southland, the Los Angeles Times reports.

Bill Seeks to Regulate 'Biosimilar' Drugs

Two of the nation's largest biotech companies, Amgen Inc. and Genentech Inc., are fighting in Sacramento to keep a tight grip on some of their most lucrative drugs, the Los Angeles Times reports. Opponents say SB 598 bill would establish roadblocks to keep cheaper substitutes off the market in the state.

Warner Bros. TV Group CEO Expected to Leave

Bruce Rosenblum, the longtime president of Warner Bros. Television Group and one of the top executives at Time Warner Inc., is expected to leave his position in the coming weeks, the Los Angeles Times reports.

DineEquity Reaches Franchising Goal

DineEquity Inc., parent of Applebee's and IHOP, has reached its goal of being 99 percent franchised, which is increasing profit while lowering overhead and cash-flow volatility, the Los Angeles Times says in a profile.

Barbara Walters to Announce Retirement

A pioneer for women in the television, 83-year-old Barbara Walters plans to retire from television next summer, the New York Times and Washington Post report.

Why the U.S. Should Issue More TIPS

Savers are right to worry about the risk of inflation in coming years. But policymakers can reassure long-term savers of their anti-inflation credentials with a change in the U.S. government’s debt management policy: sell only inflation-indexed notes and bonds with a maturity of 5 years or more, Bloomberg BusinessWeek reports.

Is Sports Memorabilia a New Safe Haven?

Investors are beginning to put their money into sporting memorabilia that isn't as vulnerable to market movements, CNBC reports.

Some in Rust-Belt Welcome Immigrant Tide

Worries over immigrants potentially taking jobs from native-born Americans run high in parts of the nation, but some cities believe immigrants can reverse long-term declines in population, the Wall Street Journal reports

Markets Fall This Morning

In Monday morning trading, the Dow Jones industrial average was down 35 points to 15,083. The Nasdaq fell 1 point to 3,435. The S&P 500 fell 2 points to 1,632.

Lawyers Reap Prop. 65’s Rewards

Special Report: Toxic Prop

Proposition 65 attorneys take lion’s share of payouts in some settlements.

Tease photo

Businesses Seek ‘Shakedown’ Relief

Special Report: Toxic Prop

A legislator and Gov. Jerry Brown both try to put an end to Proposition 65 actions that some business owners call shakedowns.

Tease photo

Power-Recovery Machines Generate Deal in Japan

ENERGY: Access looks beyond resource-rich U.S. to sell efficiency systems.

The United States, which is producing more oil within its borders, faces less pressure to conserve than countries such as Japan that have few natural resources.

Hoteliers Find Rooms in L.A.

HOSPITALITY: Developers check into projects amid recovery.

Hoteliers have shed their recessionary reservations to move forward on a host of projects.

Tease photo

Home Field

Architect Brenda A. Levin’s business blueprint has included going to the office with her husband every day for more than 30 years.

Tease photo

Fit and Set to Split

INTERNET: Earnings rise as Demand prepares to divide business units.

Investors boost Demand Media shares as the firm prepares to split its domain name unit from its publishing business.

Tease photo

Twenty in Their 20s: Sam Friedman and Alex Israel

From the creators of an app that helps motorists find parking to furniture made from recycled cardboard, the Business Journal spotlights 20 young entrepreneurs and the ventures that turned them into their own bosses.

Twenty in Their 20s: Kai Sato and Brenton Sullivan

From the creators of an app that helps motorists find parking to furniture made from recycled cardboard, the Business Journal spotlights 20 young entrepreneurs and the ventures that turned them into their own bosses.

Twenty in Their 20s: Matt Sandler

From the creators of an app that helps motorists find parking to furniture made from recycled cardboard, the Business Journal spotlights 20 young entrepreneurs and the ventures that turned them into their own bosses.

Twenty in Their 20s: Leora Kadisha

From the creators of an app that helps motorists find parking to furniture made from recycled cardboard, the Business Journal spotlights 20 young entrepreneurs and the ventures that turned them into their own bosses.

Twenty in Their 20s: Evan Spiegel and Bobby Murphy

From the creators of an app that helps motorists find parking to furniture made from recycled cardboard, the Business Journal spotlights 20 young entrepreneurs and the ventures that turned them into their own bosses.

Twenty in Their 20s: Kyla Brennan

From the creators of an app that helps motorists find parking to furniture made from recycled cardboard, the Business Journal spotlights 20 young entrepreneurs and the ventures that turned them into their own bosses.

Bioresins Firm Looks to Mold Future in Indiana

PLASTICS: Cereplast to exit El Segundo as part of cost-cutting strategy.

Bioresins company Cereplast hopes moving its HQ to Indiana will help it get back in shape.

Tease photo

Twenty in Their 20s: Daniel Altmann and Eric Posen

From the creators of an app that helps motorists find parking to furniture made from recycled cardboard, the Business Journal spotlights 20 young entrepreneurs and the ventures that turned them into their own bosses.

‘Dude, Where’s My Airplane?’

AVIATION: ILFC sues insurer over loss of aircraft in Russia.

Jet lessor ILFC seeks insurance payment for a plane lost in Russia.

Tease photo

Twenty in Their 20s: Dalton Gerlach

From the creators of an app that helps motorists find parking to furniture made from recycled cardboard, the Business Journal spotlights 20 young entrepreneurs and the ventures that turned them into their own bosses.

News Show Gives Small Cap Firms Screen Time

TELEVISION: ‘MoneyTV’ takes fee to let executives talk up companies’ stocks.

“MoneyTV” wants to help tune up small cap company stocks by getting investors tuned in.

Tease photo

Twenty in Their 20s: Sahar Sofia Sanjar

From the creators of an app that helps motorists find parking to furniture made from recycled cardboard, the Business Journal spotlights 20 young entrepreneurs and the ventures that turned them into their own bosses.

Twenty in Their 20s: Elana Joelle Hendler

From the creators of an app that helps motorists find parking to furniture made from recycled cardboard, the Business Journal spotlights 20 young entrepreneurs and the ventures that turned them into their own bosses.

Twenty in Their 20s: Cassandra Morales

From the creators of an app that helps motorists find parking to furniture made from recycled cardboard, the Business Journal spotlights 20 young entrepreneurs and the ventures that turned them into their own bosses.

Twenty in Their 20s: Joseph Lifschutz and Tommy Ngan

From the creators of an app that helps motorists find parking to furniture made from recycled cardboard, the Business Journal spotlights 20 young entrepreneurs and the ventures that turned them into their own bosses.

Twenty in Their 20s

From the creators of an app that helps motorists find parking to furniture made from recycled cardboard, the Business Journal spotlights 20 young entrepreneurs and the ventures that turned them into their own bosses.

Foreclosure Attorney Ineligible to Practice Law

INVESTIGATION: State Bar could take more steps against Gene W. Choe.

Gene W. Choe, founder of what was once one of the city’s largest law firms fighting home foreclosures, has been ruled ineligible to practice law in California pending further disciplinary hearings.

Health Care Bill Upsetting for Eateries

Jot Condie says the restaurant industry would be ill served by a proposed health care bill that could spur lawsuits.

Look Past ‘Union’ Label

Wendy Greuel’s detractors place too much weight on her labor support while ignoring her business backing.

Stuart Waldman defends mayoral hopeful Wendy Greuel’s business bona fides while rejecting claims she would be indebted to unions.

Disney Success Bit of a Marvel

Charles Crumpley thinks the bold decisions from the Mouse House stand as good examples for pipsqueak managers.

Reality Show Producer Fine-Tunes Headquarters

LEASE: Fremantle Media consolidates space with 10-year deal in Burbank.

Entertainment company Fremantle Media North America, producer of television shows such as “American Idol” and “X Factor,” is consolidating its headquarters in Burbank.

Data Bank

Calendar and Events

Unwelcome Mat Greets Homeowners Rate Hike

INSURANCE: Mercury Casualty loses petition to halt premium reduction.

Judge’s ruling damages Mercury Casualty’s bid to raise homeowners premiums.

Plane Parts Maker’s Stock Falls Back Down to Earth

AVIATION: Ducommun shares hurt by poor sales in mining, natural resources.

Natural resources and mining operations help ground shares of airplane parts maker Ducommun.

Former Biofuels Firm Branches Out Into Wood

ENERGY: Rentech seeks to power up revenue with fiber and pellet production.

Rentech adds another plank to its business with wood fiber and pellet production.

Regional Report

News and notes from communities across Los Angeles County

When Caruso Sings ...

Rick Caruso is many things. Developer. Billionaire. Philanthropist. But he’s no Enrico Caruso.

Heating Up The Icing

Coffee Bean whips up birthday cake-flavored drink for anniversary.

Coffee Bean & Tea Leaf treats customers with birthday cake-flavored drink to mark 50th anniversary.

Family Fellowships By Design

Daughter follows dad to study architecture at academy in Rome.

Father and daughter keep it in the family with their fellowships to American Academy in Rome.

Younger Footprint

Shoemaker’s son adds lower-price line to Cydwoq’s offerings.

Shoemaker’s son steps up role at Cydwoq with creation of lower-price line.

Twenty in Their 20s: Trent Mayol and Shane Webster

From the creators of an app that helps motorists find parking to furniture made from recycled cardboard, the Business Journal spotlights 20 young entrepreneurs and the ventures that turned them into their own bosses.

Twenty in Their 20s: Justin Lefkovitch

From the creators of an app that helps motorists find parking to furniture made from recycled cardboard, the Business Journal spotlights 20 young entrepreneurs and the ventures that turned them into their own bosses.

Friday, May 10

Boingo Shares Rise as Revenue Beats Estimates

Better-than-expected revenue for Boingo Wireless during the first quarter has temporarily halted the company’s tumble in 2013.

AeroVironment Lands Charger Deal for Ford Electric Cars

Ford Motor Co. has selected Monrovia’s AeroVironment Inc. to install home charging stations for its plug-in cars.

Ryland Buys Texas Homebuilder

Ryland Group Inc. is acquiring luxury homebuilder LionsGate Homes in Carrollton, Texas, the company announced Friday.

KPMG Scandal Delays Skechers’ Filing

Skechers USA Inc. on Friday told the Securities and Exchange Commission that it would be late in filing its quarterly report with the regulator because it had to switch auditors due to the KPMG insider trading scandal.

Sport Chalet, Ducommun Among Week’s Biggest Movers

The Los Angeles Business Journal’s index of largest local public companies rose strongly for the week in line with the larger markets.

Markets Close Higher

In Friday trading, the Dow Jones industrial average closed up 36 points to 15,118. The Nasdaq rose 27 points to 3,436. The S&P 500 rose 7 points to 1,634. The LABJ Stock Index rose 2 points to 167.

True Religion to Go Private in $835 Million Deal

Vernon designer denim maker True Religion Apparel Inc. on Friday said that it has agreed to be acquired by investment management firm TowerBrook Capital Partners LP in a deal worth about $835 million.

Hollywood Park to Close in December

After 75 years of horse racing, Hollywood Park will stop operations on Dec. 22, the Los Angeles Times reports.

Developers Buy Rhythm & Hues Building

The former El Segundo headquarters of visual effects studio Rhythm & Hues has been sold for $25 million to real estate developers, who plan turn it into an office campus for creative firms, the Los Angeles Times reports.

J.P. Morgan Faces California Crackdown

J.P. Morgan Chase is retreating from the California electricity market as regulators crack down on its energy-trading and other practices, the Wall Street Journal reports. The state’s attorney general also has sued J.P. Morgan Chase, accusing it of operating a "debt collection mill" targeting credit card customers, the New York Times and Los Angeles Times report.

Accounting Error Hid $43 Million in City Fund

Los Angeles city officials announced that nearly $43 million piled up unnoticed in a Department of Transportation fund because of an accounting error, the Los Angeles Times reports.

Icahn Challenges Silver Lake’s Dell Bid

Billionaire Carl Icahn, seeking to upend a $24.4 billion buyout of Dell Inc. by its founder and Silver Lake Management LLC, has proposed an alternative that could enable investors keep their stakes in the computer maker, Bloomberg News reports.

Subscriber Trends Worsen for Pay-TV

Internet video services may have significantly put the hurt on U.S. cable and satellite TV companies in the first quarter, as the biggest providers posted their weakest subscriber results in four years, Variety reports.

Bloomberg Curbs Its Journalists' Access to Customer Data

Bloomberg LP moved to restrict its journalists' access to log-in and other data from users of its data-rich proprietary terminals after a big client, Goldman Sachs Group Inc., complained, sources tell the Wall Street Journal.

Gatsby Wannabe? That'll Cost Ya

To live the life of The Great Gatsby in current times, you'll need about $22.9 million, according to calculations by GoBankingRates.com, the Charlotte Business Journal reports.

Markets Rise This Morning

In Friday morning trading, the Dow Jones industrial average was up 13 points to 15,096. The Nasdaq rose 15 points to 3,424. The S&P 500 rose 3 points to 1,630.

Thursday, May 9

Expenses Widen MannKind's Quarterly Loss

MannKind Corp. on Thursday reported a higher loss for the first quarter, attributing it to higher operating and R&D costs as the company conducts another round of clinical trials for its primary pipeline drug.

Public Storage Misses Profit Estimates

Earnings at Public Storage Inc. rose in the first quarter due to higher rents and lower vacancies at the company’s storage facilities, even as it disappointed analysts.

PennyMac Financial Raises $200 Million in IPO

Residential mortgage company PennyMac Financial Services Inc. raised $200 million in an initial public offering that began trading on Thursday.

Broadway Financial Sells More Non-Performing Loans

Broadway Financial Corp., which has been working to clear its books of long-standing bad debt, has completed the sale of another $8.7 million worth of non-performing loans.

Markets Down at Close

In Thursday trading, the Dow Jones industrial average closed down 22 points to 15,083. The Nasdaq fell 4 points to 3,409. The S&P 500 fell 6 points to 1,627. The LABJ Stock Index was unchanged at 166.

Activision Shares Fall On Cautious Outlook

Shares of video game publisher Activision Blizzard Inc. dropped more than 5 percent Thursday following the company’s first quarter earnings report.

Video Distributor Raises $3 Million

Video startup Yekra has raised a $3 million round to further develop its distribution and film marketing tools.

Game Console Maker Raises $15 Million

The West L.A. company announced Thursday that it has raised $15 million in a round led by Kleiner Perkins Caufield & Byers with participation from Mayfield Fund, Nvidia, Shasta Ventures and Occam Partners.

Stubbs Alderton Adds to Santa Monica Office

Anthony Keats has joined the Sherman Oaks law firm as partner to help establish a brand development and content protection practice group. He will co-chair the group with Konrad Gatien, who has also joined the firm as partner.

Tease photo

Bumble Bee Cited in Worker's Death

Bumble Bee Foods LLC faces nearly $74,000 in fines following a California Department of Industrial Relations investigation into the death of a tuna plant worker, who was accidentally cooked to death last October at the company's Santa Fe Springs plant, the Los Angeles Daily News reports.

Kochs' Interest in Times Ignites Firestorm

An effort by two conservative billionaire brothers to take over the Los Angeles Times, Chicago Tribune and other Tribune Co. newspapers has struck a nerve in liberal circles, with public employee unions, some politicians and leftist advocacy groups in both cities considering action to block the sale, the Los Angeles Times and New York Times report.

Coliseum Hid Reports of Financial Woes

Operators of the Los Angeles Memorial Coliseum concealed from the public independent reports of lax financial controls and widespread spending abuses at the taxpayer-owned stadium, such as sloppy accounting of concession sales and excessive perks for managers, according to records obtained by the Los Angeles Times.

Activision Warns of Rocky Second Half

Activision Blizzard Inc. beat Wall Street expectations for the first quarter but warned investors that it expects a challenging second half and holiday quarter because of heavy competition, concerns about the new videogame consoles and a decline in the company's "World of Warcraft" online game, the Wall Street Journal and PC Magazine report.

Disney Pulls Bid to Trademark 'Dia de los Muertos'

Disney-Pixar wanted to trademark the phrase "Dia de los Muertos," a Latino holiday celebrating the spirits of the dead, for an upcoming animated feature. But the resulting backlash has led the Burbank entertainment giant to abandon that effort and even change the film's title, USA Today and Time reports.

Report: 'American Idol' to Fire All Four Judges

"American Idol" might be singing a lot of farewells when this season ends, sources tell TheWrap.com. Fox's landmark but currently struggling singing show reportedly is planning to boot its entire judging panel and longtime executive producer Nigel Lythgoe next season.

LACMA Execs to Move Across Street from Museum

The top brass of the Los Angeles County Museum of Art will have a lofty view of the sprawling Wilshire Boulevard museum campus after they move across the street to what soon will be the former home of entertainment trade Variety, the Los Angeles Times reports.

Flash Mobs Go Corporate

The original flash mobs often had little obvious purpose and were decidedly noncommercial gatherings by amateurs. But now these unexpected performances in public places have gone legit, with companies paying thousands of dollars to firms like L.A.'s Dance Mob Nation and Flash Mob America for "impromptu" mobs to spice up conferences and sales meetings, the Wall Street Journal reports.

Foreclosure Crisis Still Has Millions in Its Grip

Five years after the mortgage meltdown sparked a wave of home foreclosures, millions of Americans are still in housing limbo and battling to save their homes despite government programs meant to help them, CNBC reports.

University Endowments Trim Holdings in Treasurys

Some of the smartest money in America — university endowments — are getting out of U.S. government debt, the Financial Times reports. The traditional attraction of Treasurys — that they were certain to be repaid — have been offset by concerns that with interest rates at such low levels, bond prices soon could fall dramatically.

Health-Care Law Could Encourage Entrepreneurship

Thousands of would-be entrepreneurs are itching to start their own business, but according to a Wall Street Journal report, they consider themselves shackled to their current employer by health care benefits they couldn't otherwise afford. Economists says this "entrepreneurship lock" could be eased once the new federal health-care law enables new-business owners to get coverage through public "exchanges" starting in October.

Markets Decline in Morning Trading

In Thursday morning trading, the Dow Jones industrial average was down 13 points to 15,092. The Nasdaq fell 5 points to 3,408. The S&P 500 fell 3 points to 1,629.

Wednesday, May 8

BNSF Rail Yard Project Approved

The Los Angeles City Council on Wednesday approved a lease agreement with BNSF Railway Co. for the construction and operation of a controversial $500 million rail yard near the Port of Los Angeles.

Mercury Casualty Loses Battle Over Rates

Mercury Casualty Co. has lost a court battle to immediately block state Insurance Commissioner Dave Jones’s order to lower its rates by 8 percent for 270,000 homeowner policyholders.

Market Gains at Close

In Wednesday trading, the Dow Jones industrial average closed up 49 points to 15,105. The Nasdaq rose 17 points to 3,413. The S&P 500 rose 7 points to 1,633. The LABJ Stock Index was unchanged at 166.

Viddy Returns Money to Investors

Viddy has announced that it will return $18 million of the $30 million series B round it raised a year ago.

House Set to OK Bill on Overtime Pay

The Republican-led House is poised to approve a bill that would give private sector workers the option of choosing paid time off instead of cash wages for working overtime, the Associated Press reports. The measure would allow employees who work more than 40 hours a week to save up their earned time off for use weeks or months later.

One in 10 L.A. Adults in U.S. Illegally

A USC study says that about one in 10 adults in Los Angeles County is an immigrant who crossed the border illegally or overstayed a visa. Half have been in the United States for more than a decade, the Los Angeles Times reports. In some parts of Koreatown and South Los Angeles, as many as one in three adult residents is here illegally.

Airlines Get Leaner

An MIT study says airline restructuring has resulted in a sharp reduction in service that is curtailing traveler choice, and some local economies, even as it improves the health of the airline industry, the Wall Street Journal reports.

Ventura County to Require Condoms During Porn Filming

Following Los Angeles County's lead, the Ventura County supervisors on Tuesday passed an urgency ordinance to require the use of condoms in adult film shoots, the Los Angeles Daily News reports. L.A.'s regulation has been blamed for a steep drop in adult film production in the county.

L.A. Attempts to Increase Use of Ontario Airport

Los Angeles airport commissioners took additional steps Tuesday to halt a dramatic decline in passengers at LA/Ontario International Airport, including potential cost reductions for airlines and incentives that might encourage them to add service, the Los Angeles Times reports.

Including Internet Viewers Bumps Up Nielsen Figures

Ratings service Nielsen has expanded its definition of what constitutes a “television home” to include hundreds of thousands of dwellings that have broadband Internet connections, Variety and the Los Angeles Times report. That reverses a two-year slide in the number of TV homes.

A Slower Borrowing Rebound

America's credit crunch is easing, the Wall Street Journal reports, citing Federal Reserve data. For the past six years, consumers and businesses have struggled to borrow money, but slowly, things are getting easier.

F.T.C. Warns Data Firms

The Federal Trade Commission has sent warning letters to 10 data brokerage firms, telling them that their practices, which involve gathering and selling consumer information, could violate federal privacy laws, the New York Times reports.

'Glaring Discrepancies' Reported in China Economic Data

Trade numbers for China released Wednesday showed an unexpected increase in imports and exports, leading analysts to question whether the numbers were "misleading," CNBC reports.

Google Glass Picks Up Early Signal: Keep Out

Google’s wearable computer, the most anticipated piece of electronic wizardry since the iPad and iPhone, will not go on sale for many months. But resistance to its use in public venues is already under way, the New York Times reports.

Markets Up in Early Trading

In Wednesday morning trading, the Dow Jones industrial average was up 8 points to 15,064. The Nasdaq rose 13 points to 3,409. The S&P 500 rose 4 points to 1,640.

Tuesday, May 7

Skin Care Company Lands El Segundo Headquarters

El Segundo skin care company Murad Inc. announced Tuesday that it would move its global headquarters to a larger space within city limits.

L.A. Mayor Heads to China

Los Angeles Mayor Antonio Villaraigosa announced Tuesday that he will lead a trade mission to China later this month to focus on boosting Chinese tourism and investment in Los Angeles.

Demand Posts First Quarter Profit

Demand Media Inc. beat analysts’ estimates for the first quarter of 2013, led by increases in revenue from the Web publisher’s sites as well as its domain registration business.

Disney Beats Forecasts

Walt Disney Co. soundly beat profit and narrowly beat revenue forecasts in its fiscal second quarter, helped along by strong gains in its studio entertainment, and theme park and resorts.

DirecTV Reports Better Than Expected Earnings

Shares of DirecTV rose Tuesday after the company reported net income that beat Wall Street expectations.

Shares Rise as Oaktree Beats Expectations

Oaktree Capital Group LLC shares rose after the company beat Wall Street expectations again with first-quarter results reported Tuesday.

Dow Closes Above 15,000

In Tuesday trading, the Dow Jones industrial average rose 87 points to 15,056. The Nasdaq rose 4 points to 3,397. The S&P 500 rose 8 points to 1,626. The LABJ Stock Index rose 2 points to 166.

Cereplast to Move HQ to Indiana

Struggling bioplastics maker Cereplast Inc. on Tuesday said that it plans to move its headquarters from El Segundo to Seymour, Ind. and make other changes in order to turn profitable.

Internet Sales Tax Passes Senate

The Senate voted 69 to 27 to pass a bill that empowers states to collect sales taxes from Internet purchases, but its prospects in the House remain uncertain, Reuters and USA Today report.

Herbalife Shares Rise Above Pre-Controversy Levels

Shares of Herbalife Ltd., which sank in December after hedge fund manager Bill Ackman accused the Angeles nutritional products company of operating a pyramid scheme, have since recovered, the Los Angeles Times reports.

Regal to Improve Services for the Deaf

Regal Entertainment Group company, the nation's largest theater chain, will have nearly 6,000 theater screens equipped with easier-to-use and more discreet closed-captioning glasses to aid deaf and hard-of-hearing patrons, the Los Angeles Times reports.

Can Jeff Zucker Create a 'New Day' at CNN?

Jeff Zucker has had a rough four-month introduction to running CNN, but TheWrap.com reports that he’s banking that a new morning show for the struggling cable news network can recreate the success of his hit "Today" show at NBC.

Pot Ruling Not Expected to Affect L.A. Measures

The California Supreme Court's decision to uphold the right of cities to ban medical marijuana dispensaries is not expected to affect measures on the May 21 ballot to allow the facilities to operate in certain areas of Los Angeles, the Los Angeles Daily News reports. In addition, the ruling will not immediately change laws enacted in Long Beach and other area cities, the Long Beach Press-Telegram and San Gabriel Valley Tribune report.

YouTube Providers Could Start Charging This Week

Google’s YouTube video service could start charging subscriptions this week for some entertainment and music channels and other programming, the San Jose Mercury News and New York Times report.

'G.I. Joe' Screenwriters Sue Paramount

The screenwriters of “G.I. Joe: Rise of the Cobra” have sued for than $23 million in damages, claiming that their ideas were stolen by Paramount, MGM and Di Bonaventura Pictures for what became the "Retaliation” sequel, the Hollywood Reporter and Variety report.

Jeweler to Plead Guilty in KPMG Case

San Fernando Valley jeweler Bryan Shaw has agreed to plead guilty to a conspiracy charge and return nearly $1.3 million in stock-trading gains he made from tips illegally provided by a former L.A. partner at accounting giant KPMG, the Los Angeles Times reports.

BofA Faces Yet Another Mortgage Lawsuit

Bank of America Corp. may have settled one lawsuit over faulty mortgage bonds on Monday, but the Los Angeles Times reports that the bank faces new legal action for allegedly failing to abide by a landmark settlement aimed at saving homeowners from foreclosure.

A Humbled Microsoft to Reboot Windows 8

Microsoft plans to change certain features of Windows 8 with the goals of helping people overcome the learning curve to managing the new system and getting more popular apps on the platform, the Wall Street Journal and Associated Press report.

Market Opens

In Tuesday morning trading, the Dow Jones industrial average was up 48 points to 15,017. The Nasdaq fell 1 point to 3,392. The S&P 500 rose 4 points to 1,622.

Monday, May 6

Farmer Bros. Narrows Quarterly Loss

Farmer Bros. Co. reported a smaller net loss in its fiscal third quarter as the Torrance coffee roaster benefitted from a drop in coffee bean prices.

BofA Settles With Mortgage Insurer

Bank of America Corp. has agreed to pay mortgage insurer MBIA Inc. $1.6 billion to settle legal disputes related to home loans from its Countrywide Financial unit that were packaged into securities during the financial crisis, the bank announced Monday.

Judge Orders Colony to Proceed With Casino Sale

A New Jersey judge has ordered Santa Monica firm Colony Capital LLC to proceed with the sale of an Atlantic City hotel and casino to the operator of an online poker site.

Disney Makes ‘Star Wars’ Video Game Deal With EA

Walt Disney Co. announced Monday it has reached a deal for future “Star Wars” video games to be developed by Electronic Arts, a Redwood City game publisher with significant operations in Playa Vista.

Entravision Reportedly Seeking $405 Million for Debt Refinancing

Spanish-language TV and radio station owner Entravision Communications Corp. reportedly plans to refinance its debt by seeking $405 million in loans.

Arrowhead Research Gets Private Equity Infusion

Arrowhead Research Corp. on Monday said that it raised $36 million in a private offering.

Market Close

In Monday trading, the Dow Jones industrial average closed down 5 points to 14,969. The Nasdaq rose 14 points to 3,393. The S&P 500 rose 3 points to 1,617. The LABJ Stock Index fell 1 point to 164.

Evolve Builds Studio for CraveOnline

CraveOnline, which publishes content for men, announced Friday that it has built a 4,000-square-foot studio at its Ladera Heights headquarters.

Boingo Adds Advertising Experience to Executive Team

Boingo announced Monday that it has appointed Nick Hulse as president, replacing Chief Executive Dave Hagan in the role.

Launchpad Portfolio Company Cooks Up Funding Round

Panna launched in November as a cooking app for iPads. On Monday it announced a $1.35 million funding round led by Santa Monica’s Anthem Venture Partners.

Tease photo

Raytheon to Move El Segundo HQ to Texas

Raytheon Co. plans to move the headquarters of its $6 billion Space and Airborne Systems unit from El Segundo to the Dallas suburb of McKinney, where it already has a presence, the Daily Breeze and Dallas Business Journal report. Raytheon is El Segundo's biggest employer with more than 6,000 workers, and about 170 to 200 jobs are expected to be affected by the move.

L.A. Tops 'Worst Traffic' List

Little surprise here, but traffic information and services provider INRIX has ranked the Los Angeles area as the city with the worst congestion last year, USA Today reports. At peak hours, traffic on Interstate 405 moved at just 14 miles per hour, adding 26 minutes to what should be an eight-minute drive.

Teamsters Step Up Effort to Unionize Port Truckers

The International Brotherhood of Teamsters has been quietly laying the groundwork for years on an ambitious truck driver organizing campaign, which the Long Beach Press Telegram reports could change the economics of the industrial supply chain.

Silicon Valley CEO Makes Malibu His Own

Oracle Corp. Chief Executive Larry Ellison has bought nearly two dozen properties in the beach community of Malibu during a decade-long shopping spree, including at least nine homes on pricey Carbon Beach, the Los Angeles Times reports.

Buffett Looks to Future

The Wall Street Journal reports that Warren Buffett at Berkshire Hathaway's annual meeting this weekend went further than ever before in sketching out how the conglomerate might eventually look like without him. On the investing front, Buffett this morning on CNBC said he very much favors equities over bonds, warning that some investors could lose a lot of money in long-term, fixed-income assets when interest rates eventually rise.

LAX Misses Top 100 in Airports List

Passengers surveyed for the Skytrax World Airport Awards give Los Angeles International Airport low scores for the long time it takes to get through security and immigration and customs. Out of 395 airports worldwide, LAX ranked 109, and only 24th of 50 North American airports, the Los Angeles Times reports.

Hospital Settles Kickback Charge

White Memorial Medical Center in East Los Angeles will pay $14.1 million to settle allegations that it paid illegal kickbacks to physicians in exchange for patient referrals, the Los Angeles Times reports.

Amgen Restocks Medicine Cabinet

Amgen Inc. has been pumping up its biotech drug pipeline, even as it recently fell short of quarterly sales targets, the Los Angeles Times reports.

Herbalife Sees Legal Bills Soar

Herbalife Ltd. indicates in regulatory filings that its battle with billionaire hedge fund manager Bill Ackman has been more costly than anticipated, prompting speculation that the nutrition company is bracing for potential government investigations, the Los Angeles Times reports.

FAA Safety Oversight of Repairs Criticized

The Department of Transportation's inspector general says the Federal Aviation Administration's oversight of hundreds of domestic and overseas repair stations that service U.S. airliners is ineffective and presents safety risks, the Associated Press reports.

Poor Homecoming for Many Vets

Federal law does not allow employers to penalize service members because of their military duties. But every year, thousands of National Guard and Reserve troops coming home from Afghanistan and elsewhere find they have been replaced, demoted, denied benefits or seniority. The Los Angeles Times reports that government agencies and corporations such as Wal-Mart and United Parcel Service are among the biggest offenders.

Morning Markets Mixed

In Monday morning trading, the Dow Jones industrial average was down 16 points to 14,958. The Nasdaq was up 9 points to 3,388. The S&P 500 rose 2 points to 1,616.

Nuclear Plant Kept in Dark

ENERGY: Edison may pull plug on troubled San Onofre.

Regulatory blackout may push Edison International to pull plug on San Onofre nuclear reactor.

Taking Bigger Role in Casa

When a non-profit that advocates for foster children lost its government funding, the group found a friend in Frank Addante.

Garcetti for Mayor

ENDORSEMENT

The Business Journal prefers Eric Garcetti for mayor of Los Angeles.

Give Tower Project Some Space

Leron Gubler sees criticism of two towering residential projects in Hollywood as outsized.

When Internships Don’t Work

Companies push boundaries of ethical and legal behavior with unpaid use of young employees.

Susan Tellem fears young jobseekers are being jobbed by some firms’ internship programs.

Shutterbug Service Still Has Magazines Covered

PHOTOGRAPHY: MPTV also has packaged its classic celebrity shots for books.

Small shop broadens its focus beyond magazines with books featuring shots of classic celebrities

Software Upgrade Bad Memory for Installer, Client

TECHNOLOGY: Customer Southwest Traders seeks compensation from DAZ.

Software installer DAZ faces hefty lawsuit from food firm that claims its services weren’t up to code.

Ad Business Hopes to Stand Out by Blending In

INTERNET: Nativo styles ‘native content’ to match websites.

Ad firm Nativo looks to go “native” online with promotional content that blends in with a website’s style and tone.

Tease photo

Read Their Lips

Kiss duo helps tune up eatery chain

Kiss members Paul Stanley and Gene Simmons say their Rock & Brews restaurant project has the right makeup.

Tease photo

Iron Resolve

SHIPPING: Port complex gains a new export as scrap dealer looks to boost its overseas business with ore.

The port complex has steeled itself to handle Southern California’s latest export: iron ore.

Tariff Punches Holes in Jeans

APPAREL: Denim makers may shift work out of L.A.

Jeans makers look to stitch together financial strategy after European Union triples tariff on denim pants.

Success Still in Cards for Prepaid Debit Pioneer

FINANCE: Green Dot revenue beats expectations despite rise in competition.

Investors put their money on prepaid debit card company Green Dot after healthy quarterly report.

Gun, Ammo Sales Fire Up Sporting Goods Chain

Retail: Big 5 profits spur analyst to pull trigger on raising target price.

Big 5’s stock is shooting up the charts like a bullet on the strength of gun and ammo sales.

No Clowning Around

Two Bit Circus presents high-tech carnival as learning experience.

Two Bit Circus hits the midway with a high-tech carnival loaded with lessons for kids.

Hair Product Takes Root On TV

Toppik’s head topper fills in blanks for actor portraying president.

Toppik Hair Building Fibers comes out ahead after it plays a role in making a bald actor look like President Obama.

Area Hotel Checks In as Pedal Pusher

AKA Beverly Hills looks to steer guests to complimentary bikes.

AKA Beverly Hills hotel peddles complimentary bikes as a draw for guests.

Post Production Firm Stars in Office Acquisition

Purchase: Shapeshifter’s $5.2 million deal one of year’s highest in Burbank.

A post production company has bought an office building in the heart of Burbank’s Media District in one of the highest sales of its kind in the city this year.

Data Bank

Calendar and Events

News of the Week

Last week’s major news from labusinessjournal.com and other sources

Photo App Focus of Ribbing on Comedy Program

MEDIA: Snapchat creators get grilled as guests on TV’s ‘Colbert Report.’

‘What are the users of Snapchat ashamed of?”

Depression-Era Stock Brokerage Smiles at Merger

INVESTMENT: Davidson offer too good to pass up for Crowell Weedon.

Downtown L.A. stock brokerage Crowell Weedon & Co. was founded during the Great Depression – and its age was showing.

Regional Report

News and notes from communities across Los Angeles County

Friday, May 3

Irani Forced Off Oxy Board

Ray Irani, former chief executive of Occidental Petroleum, was forced off the Westwood oil giant’s board on Friday.

Colony American Homes Files for IPO

L.A. billionaire Thomas Barrack Jr.’s Colony Capital LLC is spinning off another business to the public markets, with Colony American Homes, a buyer of rental homes, filing with securities regulators for an initial public offering.

Staar Surgical, Big 5 Among Week’s Biggest Movers

The Los Angeles Business Journal’s index of largest local public companies gained strongly for the week.

Markets Close Higher

In Friday trading, the Dow Jones industrial average closed up 142 points to 14,974. The Nasdaq rose 38 points to 3,379. The S&P 500 rose 17 points to 1,614. The LABJ Stock Index rose 2 points to 165.

Dow Hits 15,000

U.S. stocks rallied to all-time highs Friday, pushing the Dow industrial average above 15,000 after jobs growth data for April beat expectations, the Wall Street Journal and CNBC report.

Wildfire Expected to Gain Strength

A brush fire that burned more than 10,000 acres just over the L.A. County line was gaining strength Friday morning as the wind and morning sun bore down on the hills and valleys, the Los Angeles Times and Ventura County Star report.

Live Nation to Take Stake in L.A. Rave Producer

Live Nation Entertainment Inc. is close to a deal to acquire a 50-percent stake in Insomniac Events, producer of Electric Daisy Carnival raves, the Wall Street Journal and Los Angeles Times report.

Has DreamWorks Launched a YouTube Bubble?

DreamWorks Animation's acquisition of Awesomeness TV — a network of YouTube channels less than a year old — is expected to drive even more money into the online video community, TheWrap.com reports.

Behind Coda’s Failure

Coda Automotive managed to sell only about 100 units of its only electric car model, but Business Insider says it's not surprising: On top of insufficient funding and production delays, Coda made a really ugly car.

Kaiser Workers Vote to Stay with SEIU

California workers at healthcare giant Kaiser Permanente voted to remain with SEIU-United Healthcare Workers West, beating smaller rival National Union of Healthcare Workers, the Los Angeles Times reports.

Taxes Keep California Gasoline High

Gasoline prices in the California have fallen by 77 cents a gallon from the record of $4.67 set in October, but the Golden State still has the nation's highest taxes on gasoline, 38 cents a gallon, the Los Angeles Times reports.

Finding New Auditor Not So Easy for Herbalife

Herbalife Ltd. has been searching for more than three weeks for a new outside audit firm to replace KPMG LLP, which resigned in the wake of an insider-trading scandal. But the company is facing some challenges, the Wall Street Journal reports.

Warren Buffett Reassures Investors

Warren Buffett says investors shouldn't worry about his successor, just as he isn't concerned about who will next lead the companies in which he invests billions of dollars, the Associated Press reports.

Silicon Valley Uses Clout to Kill State Digital Privacy Bill

Silicon Valley used its growing political clout in Sacramento to kill a digital privacy bill that would have given consumers access to information about them collected online, the Los Angeles Times reports.

Chinese Theatre Closes for Renovations

The former Grauman's Chinese Theatre in Hollywood shut down this week for several months of renovations and a digital face lift to the Imax format, the Los Angeles Times reports.

SEC to Target 'Prime' Funds

The Securities and Exchange Commission is considering a scaled-back approach to tighter regulation of the money-market-mutual fund industry, sources tell the Wall Street Journal.

Morning Markets Jump

In Friday morning trading, the Dow Jones industrial average rose 174 points to 15,006. The Nasdaq rose 46 points to 3,386. The S&P 500 rose 21 points to 1,618.

Thursday, May 2

Staar Surgical Jumps on Revenue Improvement

Shares of Staar Surgical Co. jumped nearly 29 percent on Thursday after the ophthalmology products company reported a better-than-expected first quarter

DineEquity Sees Profit Increase

The parent of the Applebee’s and IHOP restaurant chains reported a first quarter profit that beat Wall Street forecasts, even as revenue fell sharply.

Mixed Quarter for Dole

A smaller Dole Food Co. produced as much revenue as expected by analysts in its fiscal first quarter, but its profits failed to meet projections due to litigation expenses.

Market Close

In Thursday trading, the Dow Jones industrial average closed 130 points, or 1 percent, to 14,831. The Nasdaq rose 41 points, or more than 1 percent, to 3,340. The S&P 500 rose 15 points, or nearly 1 percent, to 1,597. The LABJ Stock Index rose more than 1.5 points to 163.

L.A. Cleantech Incubator Has First Exit

Electric vehicle charging station operator 350Green announced Thursday that it has been acquired by Car Charging Group for $5.2 million.

Hubber Wants to Bring Car Sharing to the Airport

When Hubber goes live later this month, car-owners will be able to rent out their vehicles while they are out of town and visitors to the city will be able to use those vehicles for a fee.

Tease photo

Ex-CIA Chief David Petraeus to Teach at USC

The University of Southern California announced Thursday that retired general and former CIA director David Petraeus is joining the faculty to teach classes and mentor ROTC members, the Wall Street Journal and Los Angeles Times report.

L.A. Apartment Rents Continue to Rise

The Los Angeles Times reports that since the recession, Los Angeles County rents have risen 12 percent to an average of $1,654 a month, according to a first-quarter report by apartment real estate brokerage Marcus & Millichap.

Sumner Redstone Faces IRS Ire

The Internal Revenue Service says Viacom Inc. and CBS Corp. Chairman Sumner Redstone owes $1.1 million in back taxes, penalties and interest from a series of unreported taxable gifts in 1972 to his son and daughter, including stock in the family’s National Amusements Inc., Bloomberg News and the Los Angeles Times report.

Some Retailers Rethink Roles in Bangladesh

The Walt Disney Co. began ending production of branded merchandise in Bangladesh in March, the New York Times reports, and other retailers are considering similar moves in the wake of last week's collapse of a garment factory complex there, which killed more than 400 people,

Italian Investors Buy Clock Tower

The $34.3 million sale to Sorgente Group of Santa Monica's iconic Clock Tower, considered one of the prime locations in Silicon Beach, has closed, the Los Angeles Times reports. Read the Business Journal's earlier coverage of the sale.

Studios Go Direct to Fans

Film studios are attempting to duplicate the pop-culture convention Comic-Con's model of stoking interest among fans. It is bringing sneak-peeks of new material directly to super fans, who, it is hoped, spread their enthusiasm via word-of-mouth and social media, the Associated Press reports.

Buffett to Tweet

Warren Buffett is finally joining Twitter. And no, as the Wall Street Journal wryly noted this morning, pigs are not flying and hell isn't getting any cooler.

Peter Levinsohn Joins Universal Pictures

Peter Levinsohn, who had been overseeing new media and digital distribution at Fox, is joining Universal Pictures as president and chief distribution officer, where he will oversee worldwide home entertainment, new media and digital strategy, the Hollywood Reporter says.

Wienerschnitzel Founder John Galardi Dies

John Galardi, a Los Angeles fast food entrepreneur best known for founding Wienerschnitzel — now the world’s largest hot dog chain — has died of pancreatic cancer, the Los Angeles Times reports. He was 75.

Katalyst Media Settles with State on DMV Show

Ashton Kutcher's television company and the state of California have settled a lawsuit in which the actor alleged the state reneged on an agreement to provide access to Department of Motor Vehicle offices for a reality show, the Los Angeles Daily News reports.

Farmers Try Out Drones

Farmers are considering the use of drone aircraft, such as the HawkEye from Tetracam Inc. in Chatsworth, for a decidedly nonmilitary purpose: monitoring crops and spraying pesticides, the Wall Street Journal reports.

Foreign Holdings of U.S. Securities Soar

Foreigners now hold more than $13 trillion in U.S. securities, CNBC reports. It a record set as the nation worked to assert itself as the safest port in troubled global waters.

Markets Rebound

In Thursday morning trading, the Dow Jones industrial average was up 100 points to 14,801. The Nasdaq rose 33 points, or 1 percent, to 3,332. The S&P 500 rose 15 points, or nearly 1 percent, to 1,596.

Wednesday, May 1

Tutor Perini Moves to Profit

Tutor Perini Corp. swung to a profit in the first quarter, as the Sylmar construction firm saw an increase in work that ranged from gaming projects in Nevada to fixing damage caused by Hurricane Sandy.

Montana Firm Buys L.A.’s Oldest Brokerage

A Montana stock brokerage has bought downtown L.A.’s Crowell Weedon & Co., the oldest local brokerage and one of just a few remaining in Los Angeles.

Strong Quarter for Big 5

Favorable weather and a strong uptick in sales of guns and ammunition propelled Big 5 Sporting Goods Corp. to a better-than-expected first quarter, with shares jumping more than 9 percent on Wednesday.

Market Close

In Wednesday trading, the Dow Jones industrial average closed down 139 points, or 1 percent, to 14,701. The Nasdaq fell 20 points, or 1 percent, to 3,299. The S&P 500 fell 15 points, or 1 percent, to 1,583. The LABJ Stock Index fell 1 point to 161.

DreamWorks’ AwesomenessTV Acquisition Is Just the Beginning

DreamWorks Animation has announced that it will acquire YouTube multi-channel network AwesomenessTV.

Tease photo

Cornerstone Misses Income Mark While Revenue Jumps

Cornerstone OnDemand announced record quarterly revenue on Wednesday although its operating losses grew.

SocialVibe Co-Founder Returns as CEO

After two years away from the company he helped found, Joe Marchese has returned to SocialVibe as chief executive.

Tease photo

Coda Holdings Files Chapter 11, Plans to Sell Automobile Unit

Coda Holdings Inc., parent of the Los Angeles electric-car maker Coda Automotive, has filed for bankruptcy, Bloomberg News and Reuters report. A group of lenders led by Fortress Investment Group will seek to acquire the company for $25 million through the bankruptcy process. The new Coda will focus on its energy-storage business, selling off Coda Automotive.

LACMA Plans $650-Million New Look

A proposal to modernize the Los Angeles County Museum of Art, with a dramatic new museum building along Wilshire Boulevard, would involve demolishing The Ahmanson and other core facilities at the museum's main campus, the Los Angeles Times reports.

Landlords Start Shunning Nursing Homes

Some of the nation's largest health-care REITS are pulling back from the nursing home sector, based on concerns that the facilities will be less profitable as the federal government aims to cut Medicare and Medicaid costs, the Wall Street Journal reports.

Jackson-AEG Testimony Focuses on Doctor's Actions

Jurors in the civil case between Michael Jackson's mother and concert giant AEG Live heard from a Los Angeles police detective on Tuesday that Jackson’s doctor, Conrad Murray, was not initially honest with police who interviewed him after the pop singer’s death, the Los Angeles Times and Los Angeles Daily News report.

Canadian City Sees Entertainment Production Go South

Vancouver, which pioneered the use of film incentives to attract TV and movie production from Los Angeles, now is losing business to rival communities in eastern Canada and U.S. states such as Georgia and North Carolina, the Los Angeles Times reports.

Grand Park Fees Temporarily Lowered

The Los Angeles County Board of Supervisors has voted to temporarily lower filming fees at the new Grand Park from $20,000 a block per day to $5,000, the Los Angeles Times reports. Only one film has been shot at the downtown park since it opened last year, and the high fee has been cited as a main reason.

This Economy Is Still Slowest Since Depression

Two months from now, revised government estimates likely will show that the U.S. economy is even bigger than the current official $15 trillion. But CNBC reports that this huge figure doesn't hide the reality that, in terms of actual growth, we also have the worst economy in 83 years.

Billions Lost in Unemployment Fraud

A St. Louis Federal Reserve study said unemployment fraud involving people who are still working, no longer alive or are behind bars is costing the federal government more than $3.3 billion, CNBC reports.

Netflix Loses Nearly 2,000 Classic Movies

Older movies from Warner Bros., MGM and Universal are no longer available to subscribers of Netflix's streaming service as of today. That's because much of the vast Warner Bros. library is now exclusive to a new classic film service, Warner Archive Instant, Slate and PC Magazine report.

Retailers Split on Response to Factory Collapse

The apparel factory collapse in Bangladesh which has caused at least 386 deaths has produced some strikingly different responses from Western retailers and brands that bought products from businesses inside the building, the New York Times reports.

Growing a Nextdoor Network

A new hyper-local social network called Nextdoor hopes to exploit the modern reality that people these days seem to keep in better touch with friends and family across the country than with their own neighbors, the Wall Street Journal reports.

Markets Fall

In Wednesday morning trading, the Dow Jones industrial average was down 45 points to 14,795. The Nasdaq fell 13 points to 3,315. The S&P 500 fell 5 points to 1,592.