Stories for November 2013
Friday, November 29
The Los Angeles Business Journal’s index of largest local public companies closed down slightly for the week.
In Friday trading, the Dow Jones industrial average closed down 11 points to 16,086. The Nasdaq rose 15 points to 4,056. The S&P 500 fell 1 point to 1,805. The LABJ Stock Index fell less than 1 point to 176.
Wal-Mart and Target reported strong Thanksgiving Day traffic in stores and online, as shoppers focused on big-ticket electronics, the Wall Street Journal reports.
Disney's “Frozen” got off to a strong box office start at the Thanksgiving weekend, but “The Hunger Games: Catching Fire” could be heading for an even better $100 million over the five-day holiday weekend, the Wrap reports. Also, the Wrap notes that Disney has crossed the $4 billion threshold for worldwide box office in 2013.
Malls such as those in Santa Monica Place use smartphone apps to lure customers away from their computers and back to brick-and-mortar stores, the New York Times reports.
In many stores around the country, it's the workers stocking the shelves and ringing up the gifts who are at the very heart of this season’s retail lament: many Americans are so financially strapped that projections for holiday sales have grown bleaker by the week, the New York Times reports.
Good Technology has been stealthily stealing Blackberry's enterprise clients with a simple pitch: Its secure platform lets employees access the corporate server on their personal device, be it an Apple iPhone or Android, NBC reports.
The Los Angeles Times looks at some concept cars shown at the 2013 L.A. Auto Show that have a realistic chance of coming to market.
Marc Faber, editor and publisher of The Gloom, Boom & Doom Report, told CNBC this morning that he believes a "massive speculative bubble" has encroached on everything from stocks and bonds to Bitcoin and farmland.
A fire has ripped through a Bangladesh garment factory supplying major Western retailers such as Gap Inc. and Wal-Mart Stores Inc., Reuters reports. No casualties were reported; arson is suspected.
UnitedHealthcare, the nation’s largest Medicare Advantage insurer, has been upsetting customers by eliminating large numbers of doctors from its Medicare Advantage network, USA Today reports.
The Hells Angels Motorcycle Club has grown increasingly litigious, learning to employ the legal system to protect the recognizable symbols of their organization, the New York Times reports.
In Friday morning trading, the Dow Jones industrial average was up 61 points to 16,158. The Nasdaq rose 22 points to 4,067. The S&P 500 rose 6 points to 1,813.
Wednesday, November 27
Yucaipa Cos. has completed the acquisition of Fresh & Easy Neighborhood Market from Tesco PLC.
Sport Chalet Inc. said it received communication from Nasdaq Stock Market LLC about the company’s non-compliance with the exchange’s rules, which could lead to delisting.
In Wednesday trading, the Dow Jones industrial average closed up 25 points to 16,097. The Nasdaq rose 27 points to 4,045. The S&P 500 rose 5 points to 1,807. The LABJ Stock Index fell less than 1 point to 176.
The Hollywood company said late Tuesday that veteran Internet executive Stephen Semprevivo has assumed the role.
A Los Angeles County Superior Court judge on Tuesday ordered a Sriracha hot sauce plant in Irwindale be partially shut down in response to odor complaints from nearby residents, the Los Angeles Times reports.
A wintry blast of heavy rain, wind and snow across the eastern United States could disrupt plans on Wednesday for millions of people traveling ahead of the Thanksgiving holiday, Reuters reports.
President Barack Obama put the klieg light on Hollywood on Tuesday, calling the motion picture and television industry an engine of growth and a beacon in a recovering economy, the Los Angeles Times reports.
Visual effects workers gathered Tuesday at a park in Glendale and marched about a mile to police lines outside DreamWorks Animation, where President Obama was speaking, to protest foreign subsidies that they say are driving visual effects works out of the United States, the Hollywood Reporter says.
Union Station Homeless Services will not be serving home-prepared dishes donated by Pasadena-area residents at its annual Thanksgiving meal this year. The Pasadena Health Department informed the agency that it could no longer serve food items that were not prepared in approved locations, Southern California Public Radio reports.
In six years, Blackstone Group has transformed Hilton Worldwide Holdings Inc. into the largest hotel company by rooms, more than doubling its $6 billion investment. The Wall Street Journal reports that the growth came not by expanding Hilton's empire of company-owned hotels, but by renting out Hilton's brand names such as Hilton Garden Inn and Doubletree to franchisees.
Phillips 66, which operates refineries across California, is moving forward with a plan to build a rail terminal in San Luis Obispo County that would send trains with up to 80 tank cars of crude oil through Southern California and the Bay Area, the Los Angeles Times reports.
Big chains are on a charm offensive to show they appreciate their employees and respect the holiday. But some people are calling for a store boycott on turkey day, the Los Angeles Times reports.
No one begs Santa Claus for cheaper gasoline. Yet falling gas prices are shaping up as an unexpected gift for drivers, and for people on their holiday shopping lists, the Associated Press reports.
U.S. consumer sentiment rose in November as wealthier Americans' outlook on the economy improved, Reuters reports.
Wall Street investors, private equity firms and hedge funds are buying up what would appear to be risky subprime loans from ever-smaller companies, the New York Times reports.
Thanksgiving weekend is a banner one for American retailers, but Time reports that there’s another American business that thrives at this time of year: parades
Despite mergers in recent years and the retiring of older, less-efficient planes, carriers have nowhere to turn for a dozen planes the week before Thanksgiving. CNBC explains why.
Adam Levie has successfully run a $1.2 billion company for eight years, and he's only 28 years old. The chief executive of cloud computing company Box, who was just named Inc. magazine's Entrepreneur of the Year, shares with Yahoo's Daily Ticker the top three secrets of his entrepreneurial success.
In Wednesday morning trading, the Dow Jones industrial average was up 24 points to 16,097. The Nasdaq rose 17 points to 4,035. The S&P 500 rose 5 points to 1,807.
Tuesday, November 26
President Barack Obama visited the campus of DreamWorks Animation SKG Inc. in Glendale on Tuesday, getting a first-hand look at how the studio makes its feature films.
AeroVironment Inc. reported a drop in profit and revenue in its fiscal second quarter as orders for its unmanned drone aircraft and electric car battery chargers continued to slow.
Jacobs Engineering Group on Tuesday said that it has acquired the assets an Orange County company that provides pipeline engineering services to the utility and gas industries.
In Tuesday trading, the Dow Jones industrial average closed up less than 1 point to 16,073. The Nasdaq rose 23 points to 4,018. The S&P 500 rose less than 1 point to 1,803. The LABJ Stock Index rose less than 1 point to 176.
A Sacramento judge has ruled that state officials cannot pursue their plan to tap billions of dollars in voter-approved bond funding for construction of the $68-billion project, putting its future in doubt, the Los Angeles Times reports.
Snow and ice are forecast for the northeast of the country as a deadly storm that started on the West Coast last week gathers steam Tuesday and powers toward the East in time for Thanksgiving, the Associated Press reports.
When President Obama highlights the lift the entertainment industry has provided to the sluggish economy on Tuesday, he will single out one production studio with a personal visit, the Washington Post reports.
Almost 80 million people with employer health plans could find their coverage canceled because they are not compliant with ObamaCare, Fox News reports.
Southern California's love affair with the automobile continues unabated at this year's Los Angeles Auto Show, the Los Angeles Times reports.
Men’s Wearhouse, which had rebuffed takeover efforts by Jos. A. Bank Clothiers, abruptly turned the tables on Tuesday and bid $55 a share in cash to acquire its one-time suitor, the New York Times reports.
In a dreary sign of economic doldrums, more than six in 10 workers worry that they will lose their jobs, according to a Washington Post-Miller Center poll — the highest level in more than a dozen surveys dating to the 1970s, CNBC reports.
The Food and Drug Administration has ordered 23andme, maker of a popular genetic-testing kit, to halt sales of its heavily marketed product, saying the mail-order tests haven’t been proven effective and could dangerously mislead people about their health, the Washington Post reports.
While the Thursday evening hours and staggered openings may put a premature end to turkey day, early Thanksgiving sales may help prevent chaotic overcrowding and ease tensions at the registers, NBC News reports.
A decadelong restructuring wrenched apart one of the wealthiest and most philanthropic families in the United States, a clan that built such iconic brands as Hyatt Hotels Corp. The Wall Street Journal reports that some family members have lingering reservations about how the unwinding was handled.
In Tuesday morning trading, the Dow Jones industrial average was up 30 points to 16,102. The Nasdaq rose 14 points to 4,009. The S&P 500 rose 3 points to 1,805.
Monday, November 25
Oaktree Capital Group on Monday announced a distressed-debt investment joint venture with Hong Kong’s China Cinda Asset Management Co.
The University of Southern California on Monday said that its USC Roski School of Fine Arts is changing its name to the USC Roski School of Art and Design to better reflect the school’s mission.
Aurora Capital Group has completed its acquisition of Calabasas product engineering and testing company National Technical Systems Inc.
In Monday trading, the Dow Jones industrial average closed up 8 points to 16,072. The Nasdaq rose 3 points to 3,994. The S&P 500 fell 2 points to 1,802. The LABJ Stock Index fell less than 1 point to 176.
U.S. stocks kicked off a shortened holiday trading week slightly higher, with the Nasdaq Composite Index topping 4,000 for the first time in 13 years before dipping slightly below that mark Monday morning, the Wall Street Journal reports.
A Hollywood Reporter investigation has found numerous incidents of animal injury and death during some of Hollywood’s most prominent productions — including the near-drowning of the star tiger in Ang Lee’s "Life of Pi" — which call into question the American Humane Association's assertion that “No Animals Were Harmed” on productions it monitors.
Bloomberg News reports that Comcast Corp. and Charter Communications Inc. are considering a joint bid to buy Time Warner Cable Inc. and divide up its customers. The New York Times looks at John Malone's interest in gaining control of the cable giant for his Liberty Media, which has a stake in Charter.
After soliciting plans from other architects, Related Cos. has put architect Frank Gehry back in charge of the design team for a $650-million retail, hotel and residential complex along downtown L.A.'s Grand Avenue, the Los Angeles Times reports. The developer expected to submit its new proposal on Monday.
Wal-Mart Stores Inc. has named the head of its international division, Doug McMillon, to replace Chief Executive Mike Duke, who will retire at the end of January, the Wall Street Journal reports.
Time Warner Inc. plans to spin off its Time Inc. division next year, Bloomberg News reports, turning the publisher of People, Sports Illustrated and Time into the world’s largest publicly traded magazine company.
Companies are bracing for an influx of participants in their insurance plans due to the health-care overhaul, adding to pressure to shift more of the cost of coverage to employees, the Wall Street Journal reports.
Bloomberg is facing newsroom layoffs, a shift in emphasis back to financial news and skepticism from its business side because investigative journalism could create problems for terminal sales, the New York Times reports.
Savvy investors are jumping into the stream, the Hollywood Reporter says. The worldwide digital music industry is expected to grow 7.5 percent annually over the next four years and become a $12.2 billion industry by 2016, overtaking physical music sales.
The Weinstein Co. is making a move into TV production that will test whether it can extend its success in film to the world of television, the New York Times reports.
Peter Lewis, who helped build Progressive Corp. into one of the largest auto insurers in the country and later became the billionaire backer of marijuana legalization, died Saturday in Florida, the Los Angeles Times reports.
In Monday morning trading, the Dow Jones industrial average was up 37 points to 16,101. The Nasdaq rose 6 points to 3,998. The S&P 500 rose 2 points to 1,807.
ENERGY: Panels off as installers fight DWP over lease language.
Energy: Some solar panel customers have been left in the cold as installation companies and the L.A. DWP wrangle over lease language.
Last week’s major news from labusinessjournal.com and other sources
Historic Building: Santa Monica real estate company MJW Investments has sold the landmark Sears Roebuck & Co. tower in Boyle Heights.
Lease: Fig at 7th signs up shops for Victoria’s Secret, Bath & Body Works.
Downtown Los Angeles will soon make way for lotion and lingerie.
Imagine an industry where many decisions are minute to minute, and where 80 percent of most companies’ revenue is concentrated in fewer than 10 clients.
NON-PROFIT: Automotive museum taps former Fox executive to steer effort.
Non-Profit: Petersen Automotive Museum’s new chief marketing officer steers the institution into partnerships with car makers.
INTERNET: Majority shareholder’s sell-off plan fuels drop in Spark’s stock.
Internet: Investors are just not that into dating site operator Sparks after its largest shareholder plans sell-off
TV studios get jump on content for 4K sets
TV: Some studios are channeling their efforts into high-quality 4K visuals in hopes of future adoption of the format.
REAL ESTATE: City core takes some shine from Silicon Beach.
Real Estate: Software firm Daqri’s lease is another sign downtown L.A. is clicking with tech companies.
News and notes from communities across Los Angeles County
Taking Off: AeroVironment Inc., a Monrovia maker of small aircraft primarily used for reconnaissance, has been selected as the prime contractor by the Defense Advanced Research Projects Agency for the Tactically Exploited Reconnaissance Node Program
LENDING: Chase No. 1 in number of outposts but its market share declines.
JPMorgan Chase has branched out to have the most L.A. outposts, but still lags bank rivals on deposits
Internet: Global Eagle client Southwest makes ‘gate-to-gate’ connection.
Internet: Global Eagle shares take wing after Southwest Airlines expands its on-plane online service.
ActiveReplay’s Trace tracks moves by outdoor athletes.
ActiveReplay’s Trace tracking device looks to take the spin out of bragged-about moves by surfers and skateboarders.
Zabi Kator launched firm to fill need for guard services on short-term basis.
Security: Zabi Kator launched Guardnow with short-term service as its brief
Zehner doubles up in Culver City, opens office in New York.
Digital agency Zehner Group has expanded. The Culver City firm more than doubled its local office space and opened an office in New York this month.
Retail: Disney Store to seek ‘Magical’ returns with week of seasonal sales.
Retail: Disney Store chain looks to light up registers with a weeklong “Black Friday” run
Los Angeles Kings ink deal with tattoo-graffiti artist to spice up merchandise.
Sports: Los Angeles Kings turn to tattoo-graffiti artist Mr. Cartoon to boost the puckish appeal of the team’s merchandise.
INTERNET: LoveRoom’s creator dismisses critics of lodging-dating service.
A few weeks ago, a new lodging-and-dating service announced itself to the online world.
MANUFACTURING: Industrial Dynamics brings in private equity firm to help fund expansion of its bottle inspection systems.
Bottle inspection company Industrial Dynamics aims to pull out all the stoppers as it moves into foreign markets
Coffee: Upbeat analyst report helps light fire under Farmer Bros.’ stock.
Friday, November 22
The L.A. site, an online distributor of videos from independent filmmakers, will shut down permanently on Dec. 15.
The company filed a lawsuit on Monday alleging that the owner of NewNasty.com is infringing on Nasty Gal's trademark.
The Los Angeles County unemployment rate fell to 9.7 percent last month, according to state figures released Friday.
Walt Disney Co.’s Pixar Animation Studio cut about 5 percent of its workforce following a delay in the release of the studio’s next film, according to a report Friday.
A federal appeals court on Thursday upheld a lower court decision giving Warner Bros. Entertainment’s DC Comics the ownership of the Superman character.
The Los Angeles Business Journal’s index of largest local public companies closed down for the week.
In Friday trading, the Dow Jones industrial average closed up 55 points to 16,065. The Nasdaq rose 22 points to 3,992. The S&P 500 rose 9 points to 1,805. The LABJ Stock Index rose 1 point to 176.
Comcast Corp is a potential bidder for Time Warner Cable Inc., CNBC said today, citing people familiar with the situation. Comcast shareholders are encouraging management to consider a Time Warner Cable deal, the sources said. Charter Communications is also considered a potential buyer.
On his visit to Los Angeles next week, President Obama will deliver remarks on the economy during a visit to DreamWorks Animation, and attend fundraisers hosted by Magic Johnson and Haim Saban, Variety reports.
Walt Disney this week quietly moved the massive media account of its studio and home entertainment businesses to Omnicom's OMD from Publicis Groupe's 4D, a shift that AdAdge reports raised more than a few eyebrows.
Larry Flax and Richard Rosenfield, who sold their California Pizza Kitchen chain in 2011, plan to return to their culinary roots and launch a line of fast-casual pizza joints, the Los Angeles Times reports.
Spurning President Obama's call to let insurers extend canceled health policies, California won't allow 1 million policyholders to keep their health plan for another year, the Los Angeles Times reports. Meanwhile The New York Times reports that California enrollment is increasing.
The Wall Street Journal reports that Sony Corp.'s film studio will make a significant shift from motion pictures to higher margin television production and networks, Sony Entertainment Chief Executive Michael Lynton told investors Thursday.
Los Angeles officials missed signs in a geological report that suggest a $200-million residential and commercial development now under construction in Hollywood might be located above an earthquake fault, the Los Angeles Times reports.
A judge is expected to decide today whether to grant Irwindale's request to temporarily halt operations at the Sriracha hot sauce plant to address odor complaints, the Los Angeles Times reports.
Senate majority leader Harry Reid on Thursday rendered the sober Senate more like the hyperpartisan House, which could affect everything from carbon regulations to the implementation of the Dodd-Frank financial-reform bill, Time reports.
Los Angeles residents will outspend fellow Americans this holiday season, shelling out $428 on average for gifts compared with the $421 national average, according to a Deloitte survey, the Los Angeles Times reports.
The $27-million newspaper deal had appeared to be in jeopardy, but publishing entrepreneur Aaron Kushner, who controls the O.C. Register, obtained the financing to close the deal with A.H. Belo Corp., the Los Angeles Times reports.
Receiving the John Wooden Global Leadership Award at UCLA Thursday, Walt Disney Co. Chief Executive Bob Iger explained his style of leading Hollywood's biggest studio and marveled over the company's enduring success, 85 years after the birth of Mickey Mouse, the Hollywood Reporter says.
A U.S. jury awarded Apple Inc. about $290 million in a damages retrial against Samsung Electronics Co., restoring a large chunk of a historic verdict the iPhone maker won last year, Reuters reports.
You might not be able to escape a co-passenger who won't shut up now that the government is considering allowing passenger to make cellphone calls while flying, CNBC reports.
In Friday morning trading, the Dow Jones industrial average was up 6 points to 16,016. The Nasdaq rose 14 points to 3,983. The S&P 500 rose 3 points to 1,799.
Thursday, November 21
Cardiovascular therapy developer Capricor Inc. on Thursday announced that it had gone public and changed its name via an all-stock merger with San Mateo-based Nile Therapeutics Inc.
Aurora Capital Group on Thursday announced that it has completed the sale of Porex Corp., a maker of porous polymer materials, to Filtration Group of Chicago.
Energy crop company Ceres Inc. on Thursday reported a sharp decline in revenue for its fiscal fourth quarter as it continues to struggle in the Brazilian market.
In Thursday trading, the Dow Jones industrial average closed up 110 points to 16,010. The Nasdaq rose 48 points to 3,960. The S&P 500 rose 14 points to 1,796. The LABJ Stock Index rose less than 1 point to 175.
Tribune Co., the parent of the Los Angeles Times, has unveiled a restructuring plan that will slash nearly 700 jobs over the next year, the Times reports.
The Hollywood Reporter says that SBE head Sam Nazarian is in talks to open another iteration of his SLS hotel, this time near Grand Avenue's Walt Disney Concert Hall and Eli Broad's under-construction museum.
The Senate Banking Committee this morning sent Janet Yellen’s nomination as Fed chairwoman to the full Senate with a 14-8 vote, the New York Times reports.
The Senate on Thursday opened a contentious debate about striking down the long-standing filibuster rules for most presidential nominations, with Democrats appearing poised to do so on a party-line vote that would alter nearly 225 years of precedent, the Washington Post reports.
Sharply higher home prices may spook first-time home buyers, but the swift increases earlier this year have been welcomed by those who bought before the market crashed, the Los Angeles Times reports.
Federal Reserve officials, mindful of a still-fragile economy, are laboring to devise a strategy to avoid another round of market turmoil when they pull back on one of their signature easy-money programs in the months ahead, the Wall Street Journal reports.
A 'Great Rotation' out of bonds into stocks is only just underway and is setting up to be one of the major investment themes of 2014, strategists tell CNBC.
Nordstrom, T.J. Maxx and Home Depot are among national retailers that see advantages in not opening on the holiday, USA Today reports.
Black Friday this year may be a day to sleep in, CNBC reports. Retailers increasingly have been pushing holiday promotions earlier — some as early as August — as a way to compete for sales and get consumers' attention before they have run through their limited budgets.
Many companies these days regularly look up job applicants online as part of the hiring process. A new study suggests they may also use what they find to discriminate, the Wall Street Journal reports.
A car salesman used to spend long days on his feet. Now he's becoming like everyone else — stuck most days in a chair in front of a computer screen, the Wall Street Journal reports.
In Thursday morning trading, the Dow Jones industrial average was up 87 points to 15,999. The Nasdaq rose 32 points to 3,954. The S&P 500 rose 10 points to 1,792.
Wednesday, November 20
Boston private equity firm Great Hill Partners, which is Spark's largest shareholder with 19.7 percent, gave notice that it intended to sell its shares Tuesday.
Three private equity backers of Air Lease Corp. are selling off part of their stakes in an underwritten public offering of more than 10.1 million shares announced late Wednesday.
The multimedia rendition, which comes from British theater group 1927, first premiered in Berlin last year. It will make its U.S. debut at the Dorothy Chandler Pavilion on Nov. 23.
A unit of J2 Global Inc. has acquired TechBargains.com, an aggregation site for low-cost deals on consumer electronic products.
In Wednesday trading, the Dow Jones industrial average close down 66 points to 15,901. The Nasdaq fell 10 points to 3,921. The S&P 500 fell 6 points to 1,781. The LABJ Stock Index fell less than 1 point to 175.
Scoutfit's technology scans hundreds of e-commerce sites for price changes and sales.
After more than six years of headaches and false starts, Santa Monica real estate company MJW Investments has finally sold the historic Sears Roebuck & Co. tower in Boyle Heights, the Business Journal reports.
Customers of Southern California Edison and San Diego Gas and Electric are expected to get refunds as a result of the shutdown of the San Onofre nuclear power plant, Southern California Public Radio reports. That's according to a proposed decision issued Tuesday by an administrative law judge.
Diane Disney Miller, the only surviving child of Walt and Lillian Disney, died Tuesday at age 79 at her home in the Napa Valley. In the late 1990s, she fought L.A. officials to ensure that architect Frank Gehry's cutting-edge design for Disney Hall was realized, the Los Angeles Times reports.
Carpinteria-based CKE Inc., known for the raunchy commercials and juicy burgers from its Carl's Jr. chain, will be sold to Atlanta-based Roark Capital Group, owner of the decidedly G-rated brands Cinnabon and Auntie Anne's, the Los Angeles Times reports.
A new $59-million computer software program that handles nearly every aspect of DWP business — including meter readings, billings and customer service — has produced delayed and inaccurate bills, prompting City Council members to demand an explanation, the Los Angeles Times reports.
The biggest-ever settlement between the government and a U.S. company grew out of the Justice Department's discovery of a 2006 meeting in which executives for J.P. Morgan Chase & Co. decided to continue selling shoddy mortgage securities, despite red flags that officials say should have prevented the offerings, the Wall Street Journal reports.
So who decides what project gets made? With all the recent changes in studio executive suites, the Wrap asked a wide range of knowledgeable insiders across Hollywood and found that "greenlight" power is more diffused than ever before.
Frustrated by their struggle to learn how two nonprofit institutes spent more than $40 million of ratepayers' money, Los Angeles Department of Water and Power commissioners voted Tuesday to cut off the institutes' funding and asked the city controller to audit the accounts, the Los Angeles Times reports.
The latest accounting by the California High-Speed Rail Authority to state lawmakers indicates that the agency has spent almost $600 million on engineering and environmental consultants – all without turning a shovelful of dirt on construction, the Fresno Bee reports.
California authorities are investigating whether laws were broken when a government regulator went to work for healthcare giant Kaiser Permanente, a company she spent years investigating for the state, the Los Angeles Times reports.
As consultancies such as Accenture and Deloitte muscle onto advertising agency turf, shops are turning the tables with new practice groups that offer everything from product-portfolio-management advice to recommendations on corporate reorganizations, AdAge reports.
A Costco in Simi Valley found itself in a flap this week after a local pastor posted a photo on Twitter showing that Bibles at the big-box store had been labeled as fiction, the Los Angeles Times reports.
In Wednesday morning trading, the Dow Jones industrial average was up 10 points to 15,977. The Nasdaq rose 10 points to 3,941. The S&P 500 rose 3 points to 1,791.
Tuesday, November 19
After more than six years of headaches and false starts, Santa Monica real estate company MJW Investments finally sold the historic Sears Roebuck & Co. tower in Boyle Heights.
William Stiritz, the head of Midwest cereal giant Post Holdings, has increased his stake in Herbalife Ltd. to 6.4 percent, and not only wants to help grow the Los Angeles nutrition company but help defend it against hedge fund investor William Ackman.
Cherokee Inc., the apparel and accessories brand-licensing company, on Tuesday said that it signed a deal to have its Liz Lange Maternity Brand sold online and at retail stores in India.
Shares of Jacobs Engineering Group Inc. fell nearly 6 percent on Tuesday after the Pasadena company reported fiscal fourth-quarter profit that fell short of analyst forecasts.
In Tuesday trading, the Dow Jones industrial average closed down 9 points to 15,967. The Nasdaq fell 17 points to 3,932. The S&P 500 fell 4 points to 1,788. The LABJ Stock Index fell more than 1 point to 175.
This is the first time FreedomPop will be available on phones other than the HTC.
Even as the movie awards season accelerates, studio chiefs and major producers have been fretting less about Oscars than about job security, the New York Times reports.
Port truck drivers from three Carson-based firms went on strike Monday, alleging unfair labor practices by their employers, the Los Angeles Times reports.
J.P. Morgan and the Justice Department reached a $13 billion settlement that resolves several legal issues for the bank, and clears the way for an announcement as soon as today, the Wall Street Journal reports.
The price tag for a major container terminal upgrade at the Port of Los Angeles has more than doubled over the last four years, caused in large part by major design changes approved without the approval of city elected officials, the Los Angeles Times reports.
Sony Corp., which meets with investors this week about improving the company’s entertainment unit performance, reportedly has hired Bain & Co. to identify $100 million in cuts, Bloomberg News reports.
The federal government announced on Tuesday that it had opened an investigation into two recent battery fires in the Tesla Motors Model S sedan, the New York Times reports.
The Wall Street Journal reports that Emirates Airline and Qatar Airways have joined forces to negotiate with Boeing Co. for almost $100 billion in orders for the new 777X passenger jet.
Disney seems to be behind schedule with its MyMagic+ project to personalize its theme parks with RFID bracelets, AllThings D reports.
Los Angeles News Group, which includes the Los Angeles Daily News, Long Beach Press-Telegram and Pasadena Star-News, will transition to paid digital subscriptions on Wednesday, Southern California Public Radio reports.
A planned sale of the Riverside Press-Enterprise to the owner of the Orange County Register had not closed three days after the deadline, the Los Angeles Times reports, and P-E owner A.H. Belo is considering suing OC’s Freedom Communications over the delay.
The virtual currency Bitcoin took a big step toward the mainstream on Monday as federal authorities signaled their willingness to accept it as a legitimate payment alternative, the New York Times reports.
A survey by the Writers Guild of America, East suggests that reality TV production companies are using hiring loopholes to cheat writers and producers out of as much as $40 million in overtime and benefits, the Wrap reports.
Online storage, once a backwater of the Silicon Valley tech scene, is suddenly a hot commodity. Sources tell the New York Times that Dropbox, a five-year-old San Francisco start-up, is seeking $250 million in funding in a round that would value it at more than $8 billion.
Syd Field, the writer who helped teach thousands of aspiring screenwriters, died on Sunday at his Beverly Hills home, the New York Times reports. He was 77.
The Best Man Holiday' supposedly over performed at the box office, but it's more likely the Malcolm Lee film was underestimated, the Los Angeles Times reports.
A redesigned Cooper will debut at the Los Angeles Auto Show this week, the Los Angeles Times reports, adding that some hydrogen-powered cars set to debut at the show are an indicator that battery electric cars may soon become obsolete.
In Tuesday morning trading, the Dow Jones industrial average was down 5 points to 15,971. The Nasdaq fell less than 1 point to 3,949. The S&P 500 fell less than 1 point to 1,791.
Monday, November 18
LoveRoom went live Nov. 15. It's now in beta and is accepting signups.
Live Nation Entertainment Inc. said Monday it had formed a partnership with London’s Parallel Contemporary Music to build sponsorship opportunities in Asia for its performing artists.
Duarte cancer treatment center City of Hope on Monday opened its full-service cancer center in Lancaster in partnership with Antelope Valley Hospital.
In Monday trading, the Dow Jones industrial average closed up 14 points to 15,976. The Nasdaq fell 37 points to 3,949. The S&P 500 fell 7 points to 1,791. The LABJ Stock Index fell less than 1 point to 177.
Tablet manufacturer Fuhu Inc. topped the list with $118 million in revenue last year.
The Dow Jones industrial average surpassed 16,000 for the first time, extending a rally fueled by steady economic growth and central-bank stimulus, the Wall Street Journal reports.
Wal-Mart says it is watching to see if the insurance mandate under the Affordable Care Act will dent its customers' disposable income and hurt its sales, the Wall Street Journal reports.
Homebuilder confidence stabilized in November after falling for two straight months, though steady home demand was tempered by worries about further fiscal battles in Washington, Reuters reports.
Auto and homeowner insurance firm Mercury General is trying to raise premiums for its California customers to offset rising costs, primarily from automobile accidents involving its insured drivers, the Los Angeles Times reports in a company profile. Check out the Business Journal's earlier coverage.
With the market nervously wondering whether the Fed will start to reduce its quantitative easing program, a few critical clues could come this week, CNBC reports.
Resurging interest in the 'Made in America’ logo on products is benefiting Southern California, where a number of artisan shops have been manufacturing American goods for decades, the Los Angeles Daily News reports.
Mattel's two-story, 15,000-square-foot American Girl store concept is a reminder that there is still a hunger for real-world shopping experiences, the Los Angeles Times reports.
There was a time when corporate executives immediately turned defensive when an activist investor demanded a management shakeup or stock buyback. But today, some executives are willing to break bread with their erstwhile Wall Street foes to see if there is a way to find common ground before girding for battle, Reuters reports.
Embroiled in a rent dispute with landlord Los Angeles World Airports, the Proud Bird restaurant — a Westchester icon since 1967 — is scheduled to sell its last meal on Thursday, the Daily Breeze reports.
Paul's Kitchen is throwback to a different era in cuisine — culturally Chinese but unapologetically American — and a lonely survivor of L.A.’s forgotten City Market Chinatown, the Los Angeles Times reports.
Blackwater founder Erik Prince has returned to the United States to write a new chapter of his life as a private-equity investor. But in his memoir he blames the government for troubles at the big security contractor, the Wall Street Journal reports.
The percentage of restaurants that offer healthy entrees at the nation's busiest airports has increased, the Los Angeles Times reports.
In Monday morning trading, the Dow Jones industrial average was up 52 points to 16,013. The Nasdaq rose 1 point to 3,987. The S&P 500 rose 3 points to 1,800.
APPAREL: Fera International looks beyond ski wear as snow sports fade.
Apparel: Fera International looks to take its new clothing line beyond the slopes as interest in skiing goes downhill.
Rugulation: Hire by 1st Century to review money-laundering policies.
Century City’s 1st Century Bank is taking a hard look at its money-laundering policies after federal bank regulators ordered a review.
Bradford Cornell warns that shockingly high fines in the Pacific Gas and Electric Co. case could burn Californiay.
Labor: Long Beach kicks in lobbying effort for Boeing production, but without much hope.
FOOD: Officials put out welcome mat for relocation of Huy Fong’s facility.
Food: Cities outside California smell an opportunity as Irwindale residents complain about odor from Huy Fong’s chili plant.
SPECIAL SECTION: Fastest Growing Private Companies
Household appliance e-commerce
REAL ESTATE: Area’s older buildings lose pull with sector.
Real Estate: Miracle Mile landlords may need to go to greater lengths to hold on to their media company tenants.
Investment: SEC charges Velocity, owner in Ponzi scheme.
Investment SEC pursues Velocity Investment Group for alleged Ponzi scheme that could be one of L.A.’s largest.
OP-ED: Direct Public Offerings tap investors without risk of JOBS Act’s crowdfunding exemption rules.
Jenny Kassan touts the mass appeal of Direct Public Offerings as a crowdfunding option.
Stephan Roth usually is behind the scenes, reaching out to journalists as a principal at OutThink Partners in Beverly Hills, a PR firm specializing in the gay and lesbian market.
Advertising: OpenX clicks as a revenue growth heavyweight courtesy of its automated digital ad exchange.
BEVERAGE: Sponsorship by alcohol firm is first in event’s 125-year history.
San Antonio Winery gets ready to promote its Stella Rosa brand with a Rose Parade float.
Automotive: Debt deal also provides lift for shares of Motorcar Parts.
Automotive: Strong quarter and debt refinancing revs up investor interest in stock of Motorcar Parts of America
Dining: Petit Jardin offers seat at table to Bitcoin-bearing customers.
One West L.A. restaurant has been bitten by the Bitcoin bug.
ADVERTISING: Big names move west to work with Silicon Beach.
New-media businesses in Silicon Beach spur wave of migration from East Coast agencies to the West.
Charles Crumpley wants an answer: Is Herbalife a pyramid scheme or not?
SPECIAL SECTION: Fastest Growing Private Companies
Fuhu gets its hands on the top spot of L.A.’s fastest growing private companies thanks to its kids’ tablets.
Last week’s major news from labusinessjournal.com and other sources
Protest: Dozens of people were arrested near the new Wal-Mart Neighborhood Market in L.A.’s Chinatown during a protest to demand that Wal-Mart pay workers better wages.
Steve Watts opens Venice beachfront storefront to sell handplanes.
Retail: Steve Watts looks to shore up sales of Slyde Handboards with his new beachfront shop in Venice.
Obituary: Mark Lacter, former Business Journal editor, died at 59
News and notes from communities across Los Angeles County
Fresh Spaces: Skirball Cultural Center museum and educational facility in Brentwood has announced it has completed the build-out of its 15-acre campus with the opening of two adjoining event spaces, Herscher Hall and Guerin Pavilion.
SPECIAL SECTION: Fastest Growing Private Companies
Information technology support for businesses
Big-name investor battle over weight-loss product purveyor Herbalife could be nearing a close.
Entertainment: Gaiam pickup boosts Cinedigm’s streaming offerings.
Film: Movie streaming-focused Cinedigm gets physical with its acquisition of DVD distributor Gaiam Vivendi.
INTERNET: Auto-shopping site TrueCar displays its drive by appearing on the list four years in a row
REAL ESTATE: Michael Kors expands, takes bulk of Gateway Pointe facility.
New York fashion company Michael Kors Holdings Ltd., whose namesake designer creates and sells high-end women’s and men’s apparel and accessories, has expanded in the City of Industry.
SPECIAL SECTION: Fastest Growing Private Companies
E-commerce for baby-related merchandise.
Friday, November 15
Cargo volume at the Port of Los Angeles slipped in October and Long Beach traffic was up in October compared with last year, the two ports announced Friday.
Lancaster and La Mirada were named the most business-friendly cities in Los Angeles County by the Los Angeles County Economic Development Corp.
Beverly Hills studio Metro-Goldwyn-Mayer and Santa Monica production company Danjaq on Friday said they have completed the acquisition of all rights to the character of James Bond held by the estate and family of the late Kevin McClory.
The Los Angeles Business Journal’s index of largest local public companies rose for the week, in line with the larger markets.
In Friday trading, the Dow Jones industrial average closed up 85 points to 15,962. The Nasdaq rose 13 points to 3,986. The S&P 500 rose 8 points to 1,798. The LABJ Stock Index rose less than 1 point to177.
A federal jury in Los Angeles on Thursday found Century City pipe manufacturer JM Eagle liable for defrauding government purchasers, Forbes reports. The company plans to appeal.
After years of wrestling with Brentwood activists, billionaire investor Charlie Munger has pulled the plug on plans to redevelop the San Vicente Boulevard site that was the longtime location of Dutton's bookstore, the Los Angeles Times reports.
Land controlled by the now-shuttered Los Angeles Community Redevelopment Agency will soon be coming on the market, including one high-profile Bunker Hill plot, the Los Angeles Downtown News reports.
China's leaders agreed to loosen the nation's one-child policy and to give market forces a greater role in the world's No. 2 economy, according to a new blueprint for reform released today, the Wall Street Journal reports.
The Employment Development Department insurance fund that pays state jobless benefits owes nearly $10 billion to the federal government, and the problem won't be solved even if disbursements fall to pre-recession levels, the Los Angeles Times reports.
President Barack Obama will meet with insurance industry executives today to discuss his plan to help those seeing their current health plans canceled because of his signature healthcare law, Reuters reports.
Downtown L.A.'s American Apparel said transitioning to a new distribution center in La Mirada caused disappointing third-quarter earnings, the Los Angeles Times reports.
Defense contractor Lockheed Martin on Thursday said it would cut 4,000 positions and close several facilities, including some in Northern California, due to reduced government defense spending, the Los Angeles Times reports.
MGM Holdings Inc., the privately held parent of Metro-Goldwyn-Mayer Inc., reported third-quarter net income of $16.6 million, buoyed by the strong performance of "Skyfall" and “The Hobbit: An Unexpected Journey" on home entertainment platforms, the Los Angeles Times reports.
Studies warn that the typical American household in the 55-64 age range has not saved up enough money to retire, and CNBC talks to experts about steps to take to make substantial additions to your savings.
In Friday morning trading, the Dow Jones industrial average was up 51 points to 15,927. The Nasdaq rose 6 points to 3,978. The S&P 500 rose 4 points to 1,794.
Thursday, November 14
Talent management software firm Cornerstone OnDemand has launched a fund and incubator program to work with cloud technology startups.
Mark Lacter, a veteran business journalist who was a former editor of the Los Angeles Business Journal, died after suffering a stroke on Wednesday. He was 59.
In Thursday trading, the Dow Jones industrial average closed up 55 points to 15,876. The Nasdaq rose 7 points to 3,973. The S&P 500 rose 9 points to 1,791. The LABJ Stock Index rose 2 points to 177.
The White House on Thursday is to announce a plan for allowing insurance companies to continue offering existing individual insurance policies even if they fall short of the coverage standards set by the federal health-care reform law, the Wall Street Journal reports.
Fed chief nominee Janet Yellen on Thursday said that the U.S. economy has regained ground lost to Great Recession, but still needs the Federal Reserve's support because unemployment remains too high, the Associated Press reports.
The 78-year-old father of California State Assemblyman Mike Gatto was shot and killed during an apparent home invasion robbery in Silver Lake, possibly on Wednesday, the Los Angeles Daily News reports. The slaying was Silver Lake’s first homicide this year.
Live Nation Entertainment, which already handles concert promotion and other business for the music icons, is in talks to buy the companies behind U2's manager Paul McGuinness and Madonna’s Guy Oseary, and thus solidify Live Nation’s hold on two of its most profitable artists, Bloomberg BusinessWeek reports.
Convicted mob boss James "Whitey" Bulger will spend the rest of his life in prison after a U.S. judge on Thursday sentenced him to serve two life terms plus five years for crimes he committed, including 11 murders, Reuters reports.
Home shopping network HSN has turned its sights toward Hispanic consumers with the announcement of an e-commerce partnership with Univision Communications that launches Thursday, the New York Times reports.
In response to allegations of faulty workmanship, Tutor-Saliba Corp. blames poor maintenance by LAX workers, the Los Angeles Times reports. A city agency sued the company and four other contractors last month.
The Government Accountability Office says that the Transportation Security Administration’s program to screen airline passengers for suspicious behavior has not proven effective, Time reports.
The U.S. trade deficit grew in September as imports increased to the highest level in 10 months while exports slipped, the Associated Press reports.
Jockey's tie-in with Paramount Pictures' upcoming comedy 'Anchorman 2: The Legend Continues' marks the first time since 1950 that the company has sold undergarments inspired by a movie, the Los Angeles Times reports.
Here's a first: Crooks who understand the importance of customer service. The criminal gang behind CryptoLocker — malware that locks up all of the victim's personal files and backup files with state-of-the-art encryption — have created a site for people who need help making their required extortion payments, CNBC reports.
The latest Global Retail Theft Barometer estimates that retail theft, or "shrink" — a loss of inventory from shoplifting; employee or supplier fraud and organized retail crime — cost retailers more than $112 billion worldwide last year, CNBC reports.
In Thursday morning trading, the Dow Jones industrial average was up 41 points to 15,863. The Nasdaq fell 3 points to 3,962. The S&P 500 rose 5 points to 1,787.
Wednesday, November 13
FlightCar already services San Francisco International Airport and Boston's Logan International Airport.
Jakks Pacific Inc. on Wednesday announced a collaboration with five national retailers for a new DreamPlay app that enables kids to create virtual shopping environments.
Cheesecake Factory Inc. has signed its first deal to its desserts through a third-party online retailer, reaching an agreement wih the owners Harry & David catalog and online gift service.
Tetra Tech Inc. on Wednesday reported fiscal fourth-quarter profit that was better that Wall Street expected. Marcus & Millichap Inc. reported growth in profit and revenue in its first earnings report since going public last month.
In Wednesday trading, the Dow Jones industrial average closed up 71 points to 15,822. The Nasdaq rose 46 points to 3,966. The S&P 500 rose 14 points to 1,782. The LABJ Stock Index rose 2 points to 175.
EMN8, a Century City startup that provides ordering technology to restaurants, has rebranded as Tillster.
TV infomercial pitchman Kevin Trudeau could face a long prison term following his conviction for criminal contempt of court for lying about the contents of his weight-loss book, USA Today reports. Trudeau is also being pursued by federal regulators for not paying a $37 million fine imposed by regulators.
There's a real question as to whether the benefits of monetary easing, also known as quantitative easing, are worth the cost, former Federal Reserve official Andrew Huzar tells CNBC.
Former President Bill Clinton in an interview released Tuesday said President Barack Obama’s health law needs to be changed to help consumers whose current policies are being canceled, a comment that comes amid growing pressure on the White House over that portion of the new insurance system, the Wall Street Journal reports.
The U.S. government has ended its effort to block the merger of American Airlines and US Airways, clearing the way for a $17 billion deal that will create the world's largest carrier, Bloomberg BusinessWeek reports.
Dish Network Corp is closer to reaching a large-scale programming deal with Disney that would help the satellite TV provider avoid a possible blackout of popular networks such as ABC and ESPN, Reuters reports.
With pressure against him mounting, state Sen. Ron Calderon on Tuesday denied wrongdoing for the first time since an FBI affidavit alleging he accepted $88,000 in bribes became public last month, the Sacramento Bee reports.
At the Hollywood Chamber of Commerce's second State of the Entertainment Industry Conference Tuesday, the main focus may have been on growing local film and television production, but the ongoing corruption investigation of state Senator Ron Calderon was a distraction, Southern California Public Radio reports.
A group of hedge funds and private equity companies is preparing a proposal to take over large parts of Fannie Mae and Freddie Mac, in an attempt to end a bitter dispute with the Treasury, which has controlled the housing finance agencies for five years, the Financial Times reports.
An arbitrator handed Starbucks Corp. a bitter defeat in its three-year fight with Kraft Foods, saying the coffee giant must pay nearly $2.8 billion for ending a failed partnership, the Wall Street Journal reports.
The Filipino economy is already heavily dependent on money that family members living abroad send home, and some experts expect those payments — called remittances — will play an even bigger role as the nation recovers from the typhoon, CNBC reports.
Under fire for seeking the creation of a costly city health department, AIDS Healthcare Foundation now is urging the Los Angeles City Council to create a citizens' panel to oversee health services that the city receives from the county, the Los Angeles Times reports. Check out the Business Journal's earlier coverage.
The VCA West Los Angeles Animal Hospital offers bone-marrow transplants for dogs as well as radiation therapy, acupuncture and hydrotherapy. Revenue of parent firm VCA Antech is up despite declining U.S. pet ownership, the Los Angeles Times reports. Check out the Business Journal's earlier coverage.
Microsoft Corp. is abandoning major elements of its controversial "stack ranking" employee-review and compensation system, the latest blow against a once-popular management technique, the Wall Street Journal reports.
Hedge fund manager Dan Loeb revealed a stake in FedEx at an investor conference Tuesday, adding that he likes the stock and the management of the company, CNNMoney reports. The activist investor also discussed Third Point’s brief foray into shares of L.A.'s Herbalife.
Netflix has already changed the way many people think about watching television. Now the company wants to change the way people watch Netflix on their TV sets, the Hollywood Reporter says.
In Wednesday morning trading, the Dow Jones industrial average was down 60 points to 15,691. The Nasdaq rose 2 points to 3,922. The S&P 500 fell 2 points to 1,766.
Tuesday, November 12
The owners of Glendale post-production businesses Sunset Post Inc., Sunset Digital Studios Inc., and Sunset Teleproduction Center pleaded guilty on Tuesday to embezzling from their employees' retirement plan and failing to pay taxes.
Shares of Motorcar Parts of America Inc. jumped more than 25 percent on Tuesday after the maker and distributor of aftermarket automobile parts reported a fiscal second-quarter profit. Aecom Technology Corp. shares fell more than 7 percent after the construction management company gave an outlook for next year that missed Wall Street projections.
In Tuesday trading, the Dow Jones industrial average closed down 32 points to 15,751. The Nasdaq rose less than 1 point to 3,920. The S&P 500 fell 4 points to 1,768. The LABJ Stock Index fell 1 point to173.
A second major California health insurer will delay cancellation of individual coverage for policyholders who want to keep the coverage, following in the footsteps of a Blue Shield of California unit last week, the Los Angeles Times reports.
Disney has reorganized its interactive division by merging the unit's games and media operating groups and installing co-president Jimmy Pitaro as its head while co-president John Pleasants will remain as a consultant for an unspecified amount of time, the Hollywood Reporter says.
Frank Keating, the banking industry's top lobbyist, has urged GOP lawmakers in an op-ed piece, to support the bipartisan Senate immigration reform legislation as essential for business and the "most Republican of causes," the Los Angeles Times reports.
With more film tax credits under consideration, entertainment groups worry the investigation of State Sen. Ron Calderon will doom future legislation, the Los Angeles Daily News reports.
Debit-card spending lost market share to credit cards in the United States, reversing a trend of more than 20 years, Bloomberg News reports.
Honda released a sketch of its new fuel cell concept vehicle that will debut at the Los Angeles Auto Show next week, the Los Angeles Times reports. Subaru also confirmed that it will debut the all-new WRX at the show.
What happens when a news blog loses its signature writer? That has happened to Deadline with the departure of Nikki Finke, and study of media consumption suggests Deadline will have a tough time without her, the Wrap reports.
Twitter's 1,600 employees became paper millionaires with the company's blockbuster IPO, prompting a heated debate in San Francisco about whether this newfound wealth should be cheered or feared, the Los Angeles Times reports.
When McDonald's Chief Executive Don Thompson speaks during the company's investor meeting this week, he's likely to talk about coffee -- and not just what the fast food chain is serving in restaurants, Ad Age reports.
U.S. cable television operators, including Time Warner Cable and Cox Communications, are allowing more customers access to the Filipino Channel in the wake of last week's devastating typhoon, the Los Angeles Times reports.
Mexican billionaire Carlos Slim thinks he knows something about photo-sharing apps that Mark Zuckerberg doesn’t, Bloomberg News reports. Slim’s America Movil unit was among investors in Mobli, an application that lets users decorate pictures and videos with colorful filters similar to Instagram.
A ruling by the Height Committee of the Council on Tall Buildings and Urban Habitat -- the final arbiter of building heights around the world -- means that 1 World Trade Center Tower in Manhattan can claim its full 1,776-foot height, USA Today reports.
In Tuesday morning trading, the Dow Jones industrial average fell 22 points to 15,761. The Nasdaq fell 4 points to 3,916. The S&P 500 fell 3 points to 1,769.
Monday, November 11
Burbank has decided not to appeal a ruling that blocked the opening of a new Wal-Mart Stores Inc. outlet at the city’s Empire Center, but Wal-mart intends to continue the legal battle.
Shares of RadNet Inc. fell more than 13 percent Monday after the operator of medical diagnostic imaging centers said it moved from a profit to a loss in the third quarter and lowered its full-year forecast.
Sport Chalet Inc. reported a quarterly loss Monday driven by declining sales figures and the closure of three underperforming stores.
Rexford Industrial Realty Inc. on Monday reported a smaller-than-expected adjusted third quarter profit and announced an acquisition in North Orange County.
In Monday trading, the Dow Jones industrial average closed at an all-time high, up 21 points to 15,783. The Nasdaq rose 2 points to 3,920. The S&P 500 rose 1 point to 1,772. The LABJ Stock Index was unchanged at 174.
The Culver City online video network announced Erin McPherson will be joining the company in a position that sees her reporting directly to company Chief Executive Ynon Kreiz.
The round, announced Monday, was led by Institutional Venture Partners and included investments from Iconiq Capital and existing investors Lightspeed Venture Partners and General Catalyst Partners.
The funding coincides with the release of Ninja's analytics platform, the Katana engine, which analyzes the actions of video gamers to determine which player is the most influential in driving friends to spend money on a game.
The cash-short U.S. Postal Service has struck a deal with the online retailer Amazon.com to deliver the company’s packages on Sundays — a first for both and with obvious advantages for each, the New York Times reports. The service launches first in Los Angeles and New York.
The human toll is calamitous, with up to 10,000 people killed and whole towns and villages destroyed, but the damage to the Philippines' burgeoning economy may be limited to the area hit hardest by Typhoon Haiyan, NBC News reports. Residents and aid workers began burying their dead in mass graves on Monday, the Wall Street Journal reports.
Desert Hot Springs, the resort town near Palm Springs, may become the first city since Detroit to seek bankruptcy protection from creditors after a sharp drop in revenue, Bloomberg News reports. If it does declare Chapter 9, it would be the fourth California city since June last year to do so.
Glendale Galleria has completed a major renovation, designed to echo the local Hollywood glamour, and celebrated this weekend with a grand re-opening, the Los Angeles Daily News reports.
Los Angeles Times and KTLA-TV parent Tribune Co. on Monday reported improved third-quarter earnings as lower expenses more than offset a revenue decline. But Chief Executive Peter Liguori said the results did not meet his team's expectations, the Hollywood Reporter says.
The creator of Huy Fong Foods' Sriracha hot sauce says that his company might have gone bankrupt if the city of Irwindale had successfully stopped production at the facility in response to odor complaints from some nearby residents, the Los Angeles Times reports.
Chinese consumers were taking to the Internet in record numbers on Monday for an annual 24-hour online sale that has ballooned into the world’s biggest e-commerce event, the New York Times reports.
Walt Disney Co. will end programming for soap opera channel SOAPnet at the end of the year in favor of Disney Junior, its channel for toddlers, the Los Angeles Times reports.
Labor leaders and businesses are closely watching a Supreme Court case to be argued this Wednesday that involves neutrality agreements, a popular strategy used by unions to successfully organize hundreds of thousands of workers, the New York Times reports.
For decades, entertainment professionals used television as a steppingstone to the glamour of motion pictures. Now TV's money, opportunity and cultural heft are drawing talent in the other direction, the Los Angeles Times reports.
Big banks such as J.P. Morgan Chase & Co. and Credit Suisse Group are considering blocking employees from computer chat rooms that have become pervasive tools of the modern trading floor, but face mounting scrutiny from regulators, the Wall Street Journal reports.
A wave of legal tie-ups has created a fleet of supersize law firms with offices around the world, and more are in the works this fall. But law firms with the urge to merge might check with their clients first, the Wall Street Journal reports.
Premium TV company Starz is shuffling the lineup of its eight Encore channels and adding new programming to "super-serve" key demographic groups, including African-Americans, Hispanics and baby boomers, the Hollywood Reporter says.
As California concludes a second drought year and water managers hope eagerly to avoid a third, utilities armed with cloud-seeding tools are poised for that first mass of pillowy gray clouds to drift ashore from the Pacific Ocean, the Sacramento Bee reports.
The once pristine reputation of high-end exercise gear retailer Lululemon has taken a beating this year. Co-founder Chip Wilson has been doing damage control in response to customer complaints, and suffice it to say it's not going well, Yahoo's Breakout blog reports.
In Monday morning trading, the Dow Jones industrial average was up 12 points to 15,774. The Nasdaq fell 12 points to 3,906. The S&P 500 fell less than point to 1,770.
Last week’s major news from labusinessjournal.com and other sources
Walt Disney Co. will provide Netflix Inc. programming based on four characters from Disney’s Marvel unit. Netflix has committed to at least four series and a miniseries to be shown exclusively on its streaming video service.
OP-ED: Military veterans tap their unique experiences to boost businesses and America.
Employment: James Bogle salutes military veterans who have adapted their skill sets to boost domestic businesses.
HEALTHCARE & BIOTECH: Chan Soon-Shiong’s $4 million to fund health programs.
Dr. Patrick Soon-Shiong’s latest philanthropic endeavor serves as an expression of gratitude to an African-born mentor who helped the biotech billionaire get his start in Los Angeles.
ADVERTISING: Tongal takes on traditional agency model.
Some industry veterans question the mass appeal of Tongal’s crowdsourced approach to video ads.
Chemicals: Oxy faces new
Chemicals: Occidental Petroleum faces new health claims from Love Canal in New York state, 20 years after the company settled lawsuits over the site.
INTERNET: Viddy’s now Supernova as it works to regain firm’s early heat.
Internet: Maker of video app Viddy looks to change its focus and image with new name and products.
Dodgers seek big score from Wi-Fi
Sports: Dodgers to add Wi-Fi and other stadium upgrades as the team looks to run up its sponsorship and revenue opportunities.
ADVERTISING: Newly named TrueX makes play for YouTube content.
Newly rechristened TrueX wades into streaming video with its interactive ads.
LAW: Norton brings in David Ben-Meir to grow IP practice.
When London’s Norton Rose and Houston’s Fulbright & Jaworski merged in June to form Norton Rose Fulbright, the new firm’s downtown L.A. office was hit with significant exits. It quickly lost one-fifth of its attorneys, including the heads of its local health care, and labor and employment groups, to rival firms
INTERNET: United Online completes FTD spinoff, says ISP cancellations slow.
Internet: United Online shares bloom with the completion of its spinoff of flower business FTD.
APPAREL: The paper-preferring clothing industry may prove a tough fit for NuOrder’s digital ordering and inventory system
It’s hard to find a pen or paper at NuOrder Inc.’s West Hollywood offices. Its co-founders don’t want its biggest competitor hanging around.
Acquistion: 200-room London West Hollywood sold for $195 million.
The 200-room London West Holly-wood hotel was sold last month to New York investment firm Northwood Investors for $195 million, according to CoStar Group Inc., the highest price-per-room rate ever paid for a California hotel.
Law: Litigation funding firms say
Law: Litigation finance firms court investors to fund commercial cases with potentially hefty rates of return.
Last spring, Bao Ngo wanted to get a basketball competition going. Her company, Santa Monica online genealogy mapper Geni, had a team and they challenged the team at her former employer, ScoreBig Inc.
News and notes from communities across Los Angeles County
Shoots, Scores: Ticketmaster, the West Hollywood ticket subsidiary of Beverly Hills concert promoter Live Nation Entertainment Inc., has extended its ticketing services agreement with New York-based National Hockey League.
Shipping: Program to attract alliances may start price war with Long Beach.
Shipping: Port of Los Angeles hopes to make waves by offering rebates to cargo companies.
Guarantee 3’s training device aims to score points with basketball players
Food: Ips All Natural hopes to take a bite of the snack market with its high-protein product.
Construction: Stock of Ryland falls after tough feedback from analysts
Construction: Investors move out of Ryland stock after the homebuilder’s revenue fails to meet expectations.
Guarantee 3’s training device aims to score points with basketball players.
Sports: Dave Felkel promises net gains to basketball players who use his training harness.
Music: Clear Channel opens Burbank space for album promotion parties.
Lions Gate announced last week that it’s licensing the “Twilight” films and past releases including “The Princess Bride” and “Dirty Dancing” to the state-run streaming entertainment website M1905.com.
Friday, November 8
The Los Angeles Business Journal’s index of largest local public companies fell for the week, with most of the biggest movers tied to quarterly earnings.
In Friday morning trading, the Dow Jones industrial average closed up 168 points, or 1 percent, to 15,762. The Nasdaq rose 62 points, or 1 percent, to 3,919. The S&P 500 rose 23 points, or 1 percent, to 1,771. The LABJ Stock Index rose 2 points, or 1 percent, to 174.
Mar Vista's Just Scan It, an app maker specializing in mobile scanning, has rolled out a self-named iOS app that aims to loop valet services and drivers into a single network.
Myspace, acquired by Irvine’s Specific Media in 2011 for $35 million, has laid off 5 percent of its staff, according to a source familiar with the company.
The e-commerce startup filed a notice with the State of California that it planned to eliminate 52 mostly customer service positions, roughly 10 percent of its overall staff, by the end of the year.
Dozens of people were arrested during a downtown L.A. protest to demand that Wal-Mart pay workers better wages, the Los Angeles Times reports.
For the third time in six weeks, a Tesla Model S was destroyed by a fire after its battery was damaged, prompting new questions over the design of its advanced lithium-ion batteries, the New York Times reports.
President Barack Obama said he was sorry that thousands of Americans were losing their health insurance, expressing regret for the first time that the Affordable Care Act hadn't lived up to his promise that people who liked their coverage could keep it, the Wall Street Journal reports.
NBC’s ad sales division has laid off ad sales employees as part of its recent reorganization, the Wrap reports.
Boeing Co said on Friday it was ready to look for another location to build its newest jet if assembly workers and local politicians do not ratify plans to build it in its traditional manufacturing base of Seattle, Reuters reports.
Conversations with a range of Hollywood figures suggest that there is widespread support for Hillary Clinton should she decide to run for president in 2016, the New York Times reports.
Perhaps the highest-profile production claiming California’s relatively young TV and motion picture tax-credit program was “Argo,” a film about a government agent posing as a movie producer. Now the film has a role in a Capitol bribery scandal involving an FBI agent posing as a studio owner, the Sacramento Bee reports.
An appeals court has affirmed a permanent injunction against a 2009 state law that would have required Californians who buy handgun ammunition to supply their thumbprint, photo ID and other information, the Los Angeles Times reports.
Packaged food marketers and fast-food companies began aggressively dumping trans fat in the wake of a 2006 labeling requirement. But the FDA's latest action on Thursday could cause the holdouts to reformulate, while also spurring class-action lawsuits, Ad Age reports.
Twitter's stock closed up more than 70 percent in its first day of trading. The seven-year-old company that's never turned a profit and has just a fraction of Facebook's user base must now prove to investors that it's worth the money, the Associated Press reports.
More Americans' identities were stolen in tax refund crimes in the first six months of 2013 than in all of 2012, according to a U.S. Internal Revenue Service watchdog who described the problem as "a growing epidemic," Reuters reports.
Holidays bring out the traditionalist in all of us, and old-fashioned page views — the glossy paper kind — will be big for retailers this season. In spite of Web stores, shopping tools, and apps, Bloomberg BusinessWeek reports.
In Friday morning trading, the Dow Jones industrial average was up 84 points to 15,678. The Nasdaq rose 43 points to 3,901. The S&P 500 rose 13 points to 1,760.
Thursday, November 7
Walt Disney Co. reported strong fourth quarter earnings on Thursday, with its once struggling interactive division showing the greatest improvement.
Los Angeles Mayor Eric Garcetti on Thursday named Kelli Bernard as deputy mayor for economic development.
American Homes 4 Rent on Thursday said that its revenue skyrocketed in the third quarter on strong leasing activity, but the company still missed Wall Street estimates for its funds from operations.
Health Net Inc. on Thursday posted higher third quarter earnings, boosted by a favorable reimbursement adjustment from the state of California. Air Lease Corp. and Colony Financial Inc. also exceeded Wall Street forecasts.
In Thursday trading, the Dow Jones industrial average closed down 153 points, or 1 percent, to 15,594. The Nasdaq fell 75 points, or 2 percent, to 3,857. The S&P 500 fell 23 points, or 1 percent, to 1,747. The LABJ Stock Index fell 2 points, or 1 percent, to 172.
The company lowered its guidance for the full year, estimating a net loss of up to 6 cents per share and revenue between $106 million and $108 million.
The Santa Monica media company announced Thursday a third-quarter net loss of $10.4 million (-12 cents per share), compared with a net income of $3.2 million (4 cents) in the same period last year.
Twitter stock opened at $45.10, or 73 percent above its IPO price, then climbed above $50 in early trading, the Associated Press reports.
The Walt Disney Co. will provide Netflix with live action programs featuring Marvel comic book characters Daredevil and others. Netflix has committed to at least four series beginning in 2015 in what both companies call an unprecedented deal, Deadline reports.
Building giant Toll Bros. has agreed to purchase the home-building business of Porter Ranch developer Shapell Industries, the Beverly Hills firm behind tens of thousands of houses across California, the Los Angeles Times reports.
Blockbuster, the video-rental company owned by Dish Network Corp., will close its remaining 300 U.S. stores, ending an era for a chain that was once a ubiquitous part of American shopping centers, Bloomberg News reports.
Work is underway on an $80-million shopping and dining complex in El Segundo that its owners hope will become a meeting place for South Bay families and workers, the Los Angeles Times reports.
The $90-million Outlets at Tejon Ranch, now under construction where Interstate 5 and Highway 99 meet, is expected to bring more than 70 stores to a site where millions already stop to eat or gas up each year, the Los Angeles Times reports.
Los Angeles City Councilmen José Huizar and Curren Price have called for a review of street vending legislation, saying it would create a safer environment for consumers and a more profitable system for the local economy, Southern California Public Radio reports.
Boeing’s tentative agreement with a machinists union to build the new 777X airliner in the Seattle area instead of other possible sites, such as Long Beach, is the latest of several recent setbacks for the Southern California aerospace industry, the Long Beach Press-Telegram reports.
Wal-Mart Stores Inc. is telling online shoppers who bought erroneously low-priced merchandise that the orders are being canceled, but they will get a $10 e-gift cards within five days for future purchases, Bloomberg News reports.
The U.S. Food and Drug Administration on Thursday ruled that trans-fats aren't safe in food, a sharp policy shift that could lead to banning trans-fats in baked goods and other foods, the Wall Street Journal reports.
The Obama administration is planning to exempt some labor unions and businesses from paying part of a contentious reinsurance fee under the health-overhaul law, but unions and businesses said the move wouldn't go far enough, the Wall Street Journal reports.
Authorities in the small Central Valley town of Escalon are trying to crack the latest case of a California walnut crop pillaged by thieves, this time robbing a farmer of $400,000 in profits, the Los Angeles Times reports.
Video game maker Riot Games Inc. announced Thursday that it will move its headquarters from Santa Monica to West Los Angeles in spring 2015, the Business Journal reports.
Earnings reports reveal an unexpected victor in corporate standoff between CBS and Time Warner Cable earlier this year, the Wrap reports.
Google has finally broken its silence on the mysterious structure atop a barge floating in the San Francisco Bay, ComputerWorld reports.
In Thursday morning trading, the Dow Jones industrial average was down 79 points to 15,667. The Nasdaq fell 54 points to 3,877. The S&P 500 fell 14 points to 1,756.
After coming close to a deal for 300,000 square feet in Playa Vista earlier this year, the growing tech company switched gears and has signed a 15-year lease for 284,000 square feet at Element LA, a project by West L.A. real estate company Hudson Pacific Properties Inc. at Olympic Boulevard and Bundy Drive.
Wednesday, November 6
Lions Gate Entertainment Corp. on Wednesday said that it signed a multiyear licensing deal with Jiaflix Enterprises to add films from the Lions Gate and Summit libraries to a steaming media service in China.
The "Call of Duty" publisher reported third quarter net income of $56 million (5 cents per share), down from $226 million (20 cents) during the same period last year.
PennyMac Financial Services reported disappointing third quarter earnings due to a decrease in loan origination.
In Wednesday trading, the Dow Jones industrial average closed up 129 points to 15,747. The Nasdaq fell 8 points to 3,932. The S&P 500 rose 8 points to 1,770. The LABJ Stock Index fell less than 1 point to 175.
SocialVibe has been renamed TrueX Media and the company's interactive advertisement service is now called TrueAttention.
Beats also announced Wednesday that President Luke Wood has been appointed to the board, which includes co-founders Dr. Dre and Jimmy Iovine and three unnamed independent directors.
In a surprise move, developers of the hard-fought Millennium Hollywood towers next to the Capitol Records building said they won't seek building permits until two lawsuits against them are resolved, a process that could take years, LA Weekly reports.
Nikki Finke has severed ties with Deadline Hollywood, the website that she built into a must-read for the entertainment industry, the Los Angeles Times reports.
For all Santa Monica has changed over the last 30 years, its skyline has remained largely the same: a few aging towers overlooking the city’s coastal bluffs. But that skyline is now poised to be dramatically altered, the Los Angeles Times reports.
Los Angeles has been knocking about the idea of free citywide WiFi for several months, but now those thoughts have coalesced into something more concrete, reports Engadget.
A $1-billion plan to put an iPad into the hands of every Los Angeles student and teacher could prove difficult to financially sustain after about three years, the Los Angeles Times reports.
This is the last week on the job for Geraldine Knatz, who was brought on in 2006 by former Mayor Villaraigosa as the first woman executive director of the Port of Los Angeles – and who was not asked back by Mayor Garcetti, reports LA Observed.
A deal to sell the Riverside Press-Enterprise to the owner of the Orange County Register may be in jeopardy less than a month after it was announced, the Los Angeles Times reports.
Tesla Motors announced Tuesday that it ramped up production and deliveries of its luxury, all-electric Model S sedan in its third quarter. But its stock got hammered on Wall Street, the San Jose Mercury News reports.
Starbucks is the latest big company to announce an aggressive push to hire veterans returning to the civilian work force, CNN reports.
Microsoft Corp. has narrowed its list of external candidates to replace Chief Executive Steve Ballmer to about five people, including Ford Motor Co.’s chief Alan Mulally and former Nokia CEO Stephen Elop, Reuters reports.
Elite business-school graduates are increasingly heading to work in technology instead of finance as the lingering aftereffects of the financial crisis — along with Wall Street’s long hours and scaled-back pay — sends newly minted M.B.A.s elsewhere, The Wall Street Journal reports.
In Wednesday morning trading, the Dow Jones industrial average climbed 67 points, or 0.4 percent, to 15,685. The Nasdaq dropped 16 points, or 0.4 percent, to 3,923. The S&P 500 ticked up 2 points, or 0.1 percent, to 1,765.
Tuesday, November 5
Jacobs Engineering Group Inc. on Tuesday announced two acquisition-related deals in China and Brazil to build its overseas operations.
The family foundation of billionaire Los Angeles retail developer Rick Caruso and his wife Tina on Wednesday will announce a multi-million commitment to an educational program in the Watts section of Los Angeles.
PS Business Parks Inc. announced on Tuesday the pricing of its public offering, which it expects will gross about $103 million before underwriting discounts and offering expenses.
Saehan Bancorp on Tuesday said that its shareholders had approved a merger with Wilshire Bancorp.
Hudson Pacific Properties Inc. reported wider losses after markets closed Monday, though the publicly traded real estate trust beat Wall Street expectations.
In Tuesday trading, the Dow Jones industrial average closed down 21 points to 15,618. The Nasdaq rose 3 points to 3,940. The S&P 500 fell 5 points to 1,763. The LABJ Stock Index fell more than 1 point to 175.
The domain business will be called Rightside Group Ltd. and will be led by Taryn Naidu, who is currently executive vice president of domain services for the Santa Monica media company.
DirecTV on Tuesday said that its third-quarter profit grew 24 percent as the satellite-television provider continued to increase subscribers in the United States and Latin America, the Wall Street Journal reports.
William Dean Singleton, the 62-year-old founder and chairman of the company that owns the Daily News of Los Angeles and the Daily Breeze, announced Monday he will retire in the coming weeks, citing health concerns, the Business Journal reports.
The twists, turns and double-crosses in “Hatching Twitter,” Nick Bilton’s new book about the social network about to go public, echo the well-known story of Mark Zuckerberg and Facebook’s founding, Bloomberg News reports.
Two L.A. County residents are suing insurance giant Anthem Blue Cross, alleging they were misled into giving up previous coverage that had been grandfathered in with respect to Obamacare, the Los Angeles Times reports.
Anthony and Jay Robert Pritzker, who inherited at least $2.7 billion after helping break up a storied dynasty a decade ago, are now investing in private-equity and venture-capital deals, Bloomberg News reports.
The Federal Housing Finance Agency will bar mortgage companies from accepting lucrative payments to arrange a controversial form of homeowners' insurance, the Wall Street Journal reports.
A report detailing problems with the Employment Development Department's rollout of a $110-million software upgrade will be at the heart of an Assembly hearing on Wednesday, the Los Angeles Times reports.
Lego and Marvel are teaming up on the 10-episode online series Lego Marvel Super Heroes: Maximum Overload, the Hollywood Reporter says. Marvel will launch all 10 of the episodes today exclusively on Disney.com, Disney’s YouTube channel and across Disney's Roku- and Xbox-connected TV apps.
The airline industry was quick to praise new federal rules allowing passengers to keep most digital gadgets powered-on during takeoffs and landings. Less certain is how much the decision may spur use of in-flight Wi-Fi — a service that, until now, has been far more hyped by airlines than embraced by the traveling public, Bloomberg News reports.
Lionsgate TV and Debmar-Mercury have recruited producer Nicky Weinstock to oversee creative development of comedies produced using an innovative “10/90" deal template, Variety reports.
The United States and SAC can each plausibly declare victory in the $1.2 billion criminal settlement — even if neither side got everything it wanted, the New York Times reports.
While waiting in line at a gas station checkout, you notice a video monitor next to the cashier advertising a special on coffee. When you reach the front of the line, though, an ad for soft drinks suddenly appears on the screen. If the station is owned by British retailer Tesco, the change was probably no coincidence, Bloomberg News reports.
In Tuesday morning trading, the Dow Jones industrial average was down 37 points to 15,602. The Nasdaq fell 5 points to 3,932. The S&P 500 fell 5 points to 1,763.
Monday, November 4
William Dean Singleton, the 62-year-old founder and chairman of the company that owns the Daily News of Los Angeles and the Daily Breeze, announced Monday he will retire in the coming weeks, citing health concerns.
BYD Co. Ltd. on Monday defended itself from charges that the electric-vehicle manufacturer did not comply with minimum wage laws for engineers working at its Lancaster plant and North American headquarters in downtown Los Angeles.
CBRE Group Inc. on Monday said that it had purchased an affiliated brokerage in South Carolina and a residential development consultancy in London.
Rexford Industrial Realty Inc. has acquired an industrial property in Yorba Linda at auction for $12.7 million.
In Monday trading, the Dow Jones industrial average was down 24 points to 15,639. The Nasdaq rose 15 points to 3,937. The S&P 500 rose 6 points to 1,768. The LABJ Stock Index rose less than 1 point to 177
Supernova, as the Venice company will be called henceforth, is no longer a maker of one product, but a producer of a handful of multimedia apps, all with a focus on social sharing.
The partnership began Monday, the same day it was announced, with a seven-day marathon of "Call of Duty: Ghosts."
LAX police and the federal Transportation Security Administration are reviewing protocols in the wake of the shooting Friday that left a TSA agent dead and several other people wounded, the Los Angeles Times reports.
Thorsten Heins, the chief executive of BlackBerry, will leave after the collapse of a tentative takeover offer from BlackBerry’s largest shareholder, the New York Times reports.
Federal prosecutors on Monday released a plea agreement with SAC Capital Advisors LP in which the hedge-fund group agreed to plead guilty to every count of an insider-trading indictment and pay $1.8 billion in penalties, which the Wall Street Journal reports is the largest amount ever for insider trading.
While two sides agreed about the money a while ago, Walt Disney Co. and Dish Network continue to argue over something more abstract: digital rights — or to put it another way, control of the future, the New York Times reports.
Machinima co-founder Allen DeBevoise is stepping down as chief executive of the West Hollywood YouTube network as he searches for a professional manager to elevate the company to the next level, the Los Angeles Times reports. Check out the Business Journal's earlier coverage.
A new CNBC AP poll shows that 49 percent do not think Twitter would be a good investment. Young people in particular, see it as a bad move.
Ceres Inc., the Thousand Oaks biotech that uses advanced plant breeding and biotechnology to make better seeds for biofuels, is working to commercialize its products, the Los Angeles Times reports in a company profile.
The semiarid Southland imports more than half its water from hundreds of miles away through some of the modern world’s largest aqueducts. But water officials now say that in the decades ahead more must be done to conserve and develop more water supplies here at home, the Los Angeles Daily News reports.
Antitrust authorities want to see a broad package of divestitures from AMR Corp. and US Airways Group Inc. as part of any deal to settle the government's challenge to their merger plan, the Wall Street Journal reports.
TRI Pointe Homes Inc., the Irvine home builder controlled by Starwood Capital Group, has clinched a $2.7 billion deal to merge with timber conglomerate Weyerhaeuser Co.'s home-building division, the Wall Street Journal reports.
Tom Wheeler takes office as one of the most experienced commission heads in history and has close ties to President Obama. Still, rumors swirl in D.C. about his closed-door meeting with Sen. Ted Cruz, the Hollywood Reporter says.
In Monday morning trading, the Dow Jones industrial average was down 2 points to 15,613. The Nasdaq rose 2 points to 3,924. The S&P 500 rose 2 points to 1,764.
New team takes wheel at raceway
Racing: New management team looks to revive Irwindale auto track after it had been driven into the ground.
Internet: Snapchat will remain in neighborhood but pursues more space.
Internet: Maker of temporary-message app Snapchat looks like it will remain in Venice for the long haul with a move to bigger offices
SPECIAL REPORT: Health Care & Hospitals
LA BioMed Profile: Dr. Yutaka Niihara has devoted nearly a quarter-century to developing drug therapy that will relieve the pain of millions of sickle cell anemia patients around the globe.
OP-ED: New SEC rules on investing could spread dollars beyond high-tech private companies.
Investment: Victoria Silchenko thinks new SEC rules permitting “crowdinvesting” could boost the mass appeal of non-high-tech companies.
SPECIAL REPORT: Health Care & Hospitals
LA BioMed isn’t just a research institute, it’s become a thriving business incubator.
Publishing: Long Beach Record looks to break into Press-Telegram’s market.
Publishing: New paper brings a duel to Long Beach’s doorsteps as the Register challenges the Press-Telegram.
Insurance: Mercury stock tumbles on weak quarter, rate restrictions.
Insurance: Mercury shares fall as judge puts the brakes on rate hikes
Dining: Counter points to customer feedback in ditching industrial look.
Dining: Burger chain the Counter looks to turn up the heat with menu additions and an interior design revamp.
Exporting: Country’s need to feed dairy cows milked by Green Pasture.
Exporting: Green Pasture International’s hay shipments are giving Chinese businesses something to chew on
Manufacturing: BYD hires Paul Hastings to help with abuse allegations.
Manufacturing: Electric bus maker BYD hires L.A. law firm to handle accusations of workplace abuse.
Media: PK4 system aims to assist clients with online, mobile and tablet ads.
Digital media company PK4 Media in El Segundo this week will launch a system to help advertising agencies and brands buy display and video ads for online, mobile and tablet platforms in a single purchase.
Logistics: Del Rey will serve as local operating base for Load Delivered.
When Load Delivered Logistics, a Chicago firm specializing in delivery systems for the food and beverage industries, decided nine months ago to establish its presence on the West Coast, it chose Los Angeles as the place to be.
Last week’s major news from labusinessjournal.com and other sources
Under Fire: A Los Angeles County Superior Court judge has denied the city of Irwindale’s request for a temporary restraining order against Huy Fong Foods, maker of the popular “Rooster” brand of Sriracha hot sauce.
INTERVIEW" Neil Clark Warren didn’t let his age stop him from retaking the reins at dating site eHarmony.
Interview: Neil Clark Warren saw himself as a perfect match to return and revive eHarmony as chief executive
SPECIAL REPORT: Health Care & Hospitals
LA BioMed Profile: Amgen Inc. veteran Keith Leonard noticed that something was missing in the aesthetic medicine industry: scientific research to back up claims of beauty enhancement.
SPECIAL REPORT: Health Care & Hospitals
LA BioMed Profile: UCLA pediatric cardiologist and LA BioMed researcher Dr. Ruey-Kan Chang leads a medical device startup, QT Medical, that has a full pipeline.
SPECIAL REPORT: Health Care & Hospitals
LA BioMed Profile: Agi Hirshberg is rare among medical research company chief executives.
SPECIAL REPORT: Health Care & Hospitals
LA BioMed Profile: At NovaDigm Therapeutic Inc., scientists believe they are on to something.
Real Estate: Projects draw ‘low-income’ maps to tap EB-5.
Critics say developers have mapped out a means to tap a program that was meant to boost low-employment areas.
REAL ESTATE: RREEF pays $35.5 million for pair of North Beverly buildings.
Rodeo Drive might be the toniest shopping district in Beverly Hills, but lately it’s nearby North Beverly Drive that has investors and tenants clamoring for space.
Banking: Federal fraud review may hold up sale by parent.
Banking: Federal review of payday-lender payment processing by National Bank of California may slow its sale.
Water: Attraction could help Cadiz avoid review of pipeline.
Water: Cadiz plans railroad tie-in that could help the aquifer owner avoid full review of a pipeline project.
Hollywood Bowl bathroom adds company’s lighting system for stall occupancy.
Technolgy: Tooshlights is flush with success after the Hollywood Bowl adds the company’s bathroom stall-occupancy light system.
At the end of a long work week, broker Carter Magnin doesn’t unwind with his fellow real estate buddies by going to the latest hot restaurant or bar.
Sisters put accent on health with shop serving up Italian icy beverage granita.
Beverages: Sisters look to treat health-conscious customers to sweet and icy Italian drink called granitas.
News and notes from communities across Los Angeles County
Medical Boost: The Chan Soon-Shiong Family Foundation, a non-profit co-founded by Dr. Patrick Soon-Shiong and his wife, actress Michele Chan, has given $4 million to the University of California Global Health Institute to support new cross-campus and interdisciplinary education and research programs.
Friday, November 1
David Murdock on Friday completed his acquisition of Dole Food Co. and has taken the Westlake Village agribusiness company private.
Oaktree Capital Group on Friday said its per-share profit rose 33 percent in the third-quarter as the distressed debt investor earned more in fees from its clients for exceeding performance targets.
United Online Inc. on Friday said that it has completed the separation of FTD Companies Inc. from United Online through a tax-free dividend of shares to its shareholders.
The Los Angeles Business Journal’s index of largest local public companies fell for the week.
In Friday trading, the Dow Jones industrial average closed up 70 points to 15,616. The Nasdaq rose 2 points to 3,922. The S&P 500 rose 5 points to 1,762. The LABJ Stock Index rose 1 point to 177.
Hyperloop Transportation Technologies Inc. has launched to develop a prototype of the high-speed transportation system that would take travelers from Los Angeles to San Francisco in 35 minutes.
In the wake of September's deadly jet crash, Santa Monica officials sued the Federal Aviation Administration on Thursday to gain control of the city's embattled airport, which local groups want to turn into a park, the Los Angeles Times reports.
California Sen. Ron Calderon and his brother, a former state assemblyman, are accused of accepting more than $1 million in bribes from a hospital executive, the Long Beach Press-Telegram reports. Also, the Sacramento Bee reports that Senate leader Darrell Steinberg has taken steps to remove Sen. Calderon from the Film Commission amid accusations of bribery related to his actions there.
Facing the shortest holiday season in years, U.S. retailers such as Wal-Mart are preparing to assail customers with deals and promotions this week, before they have even digested their Halloween candy, Reuters reports.
To get ready for the holiday season, Mattel is adding some informal Spanish language to a marketing campaign meant to reach Latina mothers, the New York Times reports.
The U.S. Treasury Department and Internal Revenue Service changed the use-it-or-lose-it rule for flexible spending arrangements, or FSAs, to allow account holders to carry over as much as $500 from one year to the next without penalty, the Los Angeles Times reports.
Facing lingering questions about the oversight and profitability of their businesses, Morgan Stanley and JPMorgan Chase have taken steps to sell their commodity divisions, CNBC reports.
The U.S. manufacturing sector expanded at its fastest pace in 2½ years last month, an industry report showed Friday, but the pace of hiring slowed from September, Reuters reports.
California officials on Thursday released a five-year “Water Action Plan” intended to avoid a statewide water supply crisis stemming from drought, population growth and climate change, the Sacramento Bee reports.
Twitter has evolved into a powerful tool for investors, but getting started on the platform can be tricky for new users. CNBC compiled some tips to help investors get market-moving information from the site.
In Friday morning trading, the Dow Jones industrial average was up 20 points to 15,565. The Nasdaq fell 11 points to 3,909 The S&P 500 fell 2 points to 1,755.