Stories for August 2016
Wednesday, August 31
Ships loaded with cargo were sitting directionless off the California coast Wednesday after Hanjin Shipping filed for bankruptcy and ceased operations.
Flipagram Is Shopping Itself Around to Potential Buyers, Appetize signs deal to supply devices to Los Angeles Memorial Coliseum, CBS All Access Launches Ad-Free Option, and more.
Point-of-sale system manufacturer Appetize of Santa Monica has signed a deal with venue management firm Legends to outfit the Los Angeles Rams’ temporary home, the Los Angeles Memorial Coliseum, with its devices.
Hanjin Shipping Co. Ltd. filed for bankruptcy protection Wednesday after negotiations with creditors failed, sinking the seventh-largest cargo container carrier in the world and one of the largest shippers at the Port of Long Beach.
Tuesday, August 30
Washio folds operations following inability to find buyer, SpaceX to launch recycled rocket, Jessica Alba joins other celebrities on Apple’s new TV show, and more.
Hanjin Shipping Co. Ltd., one of the largest cargo carriers at the Port of Long Beach, may be headed for bankruptcy after its creditors reportedly rejected a restructuring plan Tuesday.
Watts is slated to get its first-ever business accelerator under plans announced Tuesday by the Valley Economic Development Center and a local community development organization.
On-demand laundry startup Washio is washed up. The Santa Monica-based company that raised more than $16 million since its founding in 2013 announced on its website Monday that it had closed its operations and would no longer be accepting orders.
Monday, August 29
California’s inadequate transportation system costs motorists a total of $53.6 billion per year in the form of congestion-related delays, crashes, and extra costs of operating a vehicle, according to a report released Monday.
Win or lose, the Los Angeles Rams can count on both great weather and devoted fans in Southern California.
Sneaker app GOAT raises $5 million, Engage: BDR Inc. to go on $100 million acquisition spree, Gatorade running in-app tennis game on Snapchat, and more.
Hanjin Shipping’s creditors have moved up their meeting to consider whether the cargo carrier’s restructuring plan is enough to prevent the company from facing bankruptcy and court receivership.
Friday, August 26
The lawsuit targeting iconic 58-year-old composer Hans Zimmer over his score for Academy Award-winning film “12 Years a Slave” has been dismissed. Plaintiff Richard Friedman voluntarily withdrew his complaint Thursday and apologized Zimmer in a letter, according to the composer’s attorneys.
Snapchat to rollout behavior targeting for advertisers, Thrive Market making pitch to be affordable online Whole Foods, and SpaceX’s Dragon capsule splashes down in ocean.
Los Angeles-based soda company Reed’s Inc. was this week’s biggest mover, gaining 18 percent to end at $3.12. Westwood-based Puma Biotechnology Inc. was also among the week’s movers. The biopharmaceutical company gained 15 percent to end at $57.63. Los Angeles-based oil and gas company California Resources Corp. was the week’s biggest loser, dropping 20 percent to end at $10.23.
An industrial strip of Casitas Avenue in Glassell Park is about to get several hundred little homes. New York-based real estate company Pan Am Equities just purchased a 5.6 acre site there for $22 million with plans to build a 400-unit apartment complex.
Nonprofit teaches custodians practices that translate into lower-cost maintenance.
Green Janitor Education Program pitched to building owners as means to save green.
Kennedy Wilson broker Justin Weiss, 35, began hosting his No Networking Allowed Young Downtown Party in 2008 for friends working in the area who were bored of networking events that felt like job interviews.
Kobe Bryant wants his second act to overshadow his first.
REAL ESTATE: Late exec Jona Goldrich, 88, found success with apartments.
Developer Goldrich Kest hopes to build on the legacy of late co-founder Jona Goldrich.
RETAIL: Chain repositions store for young, educated residents; tourist shoppers.
Macy’s refashions downtown store with eye toward revitalizing chain’s prospects.
DINING: Restaurants hit with lawsuit over health care surcharge.
Price-fixing lawsuit accuses high-end restaurants of cooking up health care surcharge.
SHIPPING: Bankruptcy of Hanjin could hurt tide of cargo at Long Beach port.
Embattled South Korean cargo container carrier Hanjin Shipping Co. Ltd. should soon know whether it will avoid bankruptcy as it approaches a Sept. 4 deadline for its $1.1 billion liquidity plan.
INVESTMENT: Peak6 takes controlling stake in Spark, owner of ChristianMingle.
Hedge fund Peak6 seals deal with dating site operator Spark Networks for controlling stake.
Smart public policies primary key for boosting people out of poverty
Smart policy decisions not personal grit help lift people out of poverty, writes Chris Tilly.
Turn to socialist solutions threatens self-reliance, high standard of living
Michael Levine fears socialist solutions to public problems will diminish Americans’ self-reliance.
The only constant in business is change, and companies that can adapt to both threats and opportunities are best positioned for success.
LISTING: Barry Goldfarb seeking $12.8 million for property in Santa Clarita.
When Barry Goldfarb needs a change of scenery, he can drive a half-hour from his Bel Air home to the 90-acre Agua Dulce estate in Santa Clarita.
FOOTWEAR: Sole Society looks to global expansion as part of Camuto Group.
Online retailer Sole Society of Culver City is fashioning a bigger footprint with the help of footwear powerhouse Camuto Group.
NONPROFIT: Departure of Carol Schatz leads to long list of traits for successor.
After Carol Schatz announced earlier this year that she would retire from her post as chief executive of downtown’s Central City Association, the business group’s board hired Glendale executive search firm Morris & Berger to recruit potential successor candidates.
TV: Participant turns away from Pivot, axing shows, laying off division’s staff.
Jeff Skoll’s social impact entertainment company Participant Media is pivoting away from its cable television effort three years after launching.
INTERNET: BMG wins verdict against ISP Cox for not banning scofflaws.
Rights manager BMG’s legal victory may only court more questions about content control.
SHIPPING: Blue Cut blaze shutdowns didn’t last long but dry area poses risks.
Rail and freeway shutdowns by the Blue Cut Fire highlighted risks in fire- and quake-prone Los Angeles.
Hawke Media carves niche by helping celebs launch their business ventures.
Hawke Media helps stars channel celebrity power into their business ventures.
Hoteliers and unions team up over their reservations about home-sharing businesses.
MEDIA: Parent Emmis may go private and sell print holdings.
Suitor for parent of Los Angeles magazine intends to break up with print publications.
INTERNET: Hospital’s payout may have spurred ransom hacks.
Ransomware attack on medical center may have nursed cybercriminals’ interest in such hacks.
Thursday, August 25
The passage this week of Senate Bill 32 to implement stricter greenhouse gas emissions standards creates uncertainty for businesses and may lead to more businesses leaving California, said Dorothy Rothrock, president of the California Manufacturers & Technology Association.
Apple making Snapchat clone, Hyperloop Transportation’s novel approach, and RockYou buys Fanbread.
Online retailer Sole Society in Culver City is fashioning a bigger footprint with the help of footwear powerhouse Camuto Group in Greenwich, Conn.
Los Angeles Mayor Eric Garcetti on Thursday announced that the city has issued permits for 40,800 new housing units since he took office in July 2013, putting the city ahead of his target for 100,000 new units permitted by mid-2021.
Bijan’s yellow store on Rodeo Drive sold last month for $122 million, or $19,405 a square foot, to the parent company of Louis Vuitton, according to CoStar records.
This fall, downtown L.A.’s Southern California Institute of Architecture (SCI-Arc) will roll out four specialized postgraduate programs aimed to groom architects for a wide range of twenty-first century careers. Hosted under the umbrella, Edge, Center for Advanced Studies in Architecture, the one-year degrees will be a Master of Science in Architectural Technologies, Master of Arts in Entertainment and Fiction, Master of Science in Design of Cities, and Master of Science in Design Theory and Pedagogy.
Embattled South Korean cargo container carrier Hanjin Shipping Co. Ltd. is expected to present a $1.1 billion liquidity plan Thursday in efforts to avoid bankruptcy.
Wednesday, August 24
Digital Domain Partners with World Surf League for 360-degree content, Comedy Central grabs Snapchat star for TV show, and SpaceX to refurbishing rockets in Florida.
Backers of an initiative to curb mega-developments in Los Angeles turned in nearly 104,000 signatures to the city clerk’s office Wednesday, 67 percent more than the 62,000 needed to place the measure on next March’s ballot.
When Barry Goldfarb needs a change of scenery, he can drive half an hour from his Bel Air home to Agua Dulce in Santa Clarita. The 90-acre site is more than a countryside estate; it’s L.A.’s largest vineyard and winery. The site just hit the market for $12.8 million, listed by Partners Trust Commercial brokers Dario Svidler and Robert Morton.
A Chicago-based company is joining the flood of developers building hotels in Hollywood. Oxford Capital Group recently purchased a one-story office on North Cahuenga Boulevard that it plans to replace with a seven-story luxury hotel.
Tuesday, August 23
Congestion last year at the ports of Los Angeles and Long Beach contributed to a rise in greenhouse gas emissions, port officials have reported.
STX Entertainment acquires virtual reality company Surreal, Google Daydream to use Hulu VR content, Disney Movies Anywhere integrates with Verizon Fios, and more.
The Los Angeles Football Club’s future 22,000-seat stadium will be called the Banc of California Stadium, according to an agreement between the soccer club and Irvine-based bank announced today.
Monday, August 22
Kobe Bryant launches $100 million venture capital fund, L.A. Dodger announces second accelerator class, and SpaceX puts first vertical rocket landed on display in Hawthorne.
The groups behind a scheduled fundraiser in Hollywood this past weekend for the medical marijuana industry cancelled the event after receiving word from the Los Angeles Police Department that the event was regarded as unlawful.
The Eli and Edythe Broad Foundation has named longtime employee Gerun Riley as its president.
The long-running battle between local card rooms and tribal gaming casinos has a new skirmish line: a change in an obscure state rule that could cost the local card rooms millions of dollars in revenue each year.
Kobe Bryant has launched a $100 million venture capital fund.
Friday, August 19
Pasadena-based biotechnology company Arrowhead Pharmaceuticals was this week’s biggest mover, gaining 26 percent to end at $7.50. Hawthorne-based OSI Systems, Inc. was also among the week’s movers. The specialized electronics manufacturer gained 11 percent to end at $68.46. Santa Monica toy company Jakks Pacific Inc. was the week’s biggest loser, dropping 6 percent to end at $8.93.
L.A. tech wages rising fastest in the nation, Activision runs Snapchat zombie karaoke lens, and YP hires new CEO.
L.A. County’s unemployment rate fell to 4.8 percent in July, its lowest level in nearly 10 years, despite a sharp seasonal drop in employer payrolls, state figures released Friday show.
Los Angeles County tech wages are growing faster than the earnings of tech employees in the nation’s other big cities, according to data from the U.S. Bureau of Labor Statistics compiled in a report by downtown real estate investment firm Jones Lang LaSalle Inc.
Los Angeles was the city with the second highest number of fast growing private businesses in the country last year, according to the 2016 Inc. 5000 list, published by Inc. Magazine on Aug. 17.
GAMING: Firm makes play for younger crowd.
Gamblit puts money on mobile titles as a means to draw millennials to casinos.
Business Journal reviews how TV company Starz will impact film studio Lions Gate’s big picture.
The transformation of Spanish-language media company Univision Communications Inc. took another step last week when the company emerged as the prevailing bidder for renegade news organization Gawker Media at a bankruptcy auction.
ACQUISITION: Property goes to Colburn School after rival offer rejected.
A handful of 50 sites once controlled by the Community Redevelopment Agency of the city of Los Angeles remain available, and another has just been snatched up.
Mapping out the road to higher parking prices downtown.
METALS: Officials hope to reduce odor production in Paramount, other cities.
After years of complaints by residents about odors in Paramount and other southeast Los Angeles County cities, the South Coast Air Quality Management District identified the likely source as metal forging facilities and has begun developing a rule to clamp down on emissions from these plants.
EXERCISE: Boutique Barry’s scales up offerings at studio.
Barry’s Bootcamp looks to step up in the boutique fitness space with added amenities.
EMPLOYMENT: Glassdoor reports wealth of openings for highly paid staffers.
Jobs website Glassdoor reports a lot of highly paid openings for software engineers.
Richard S. Ziman still likes sector’s strength, stability despite increased competition with retail, residential
Industry vet Richard Ziman discusses industrial’s strength amid retail and residential booms.
COMPENSATION: Average salary of $115,000 only 10th highest in big cities.
Los Angeles County tech wages are growing faster than the earnings of tech employees in the nation’s other big cities, according to data from the U.S. Bureau of Labor Statistics compiled in a report by downtown real estate investment firm Jones Lang LaSalle Inc.
Downtown loses ground in parking cost battle
Development in downtown is driving up parking costs as spaces disappear.
TOURISM: Forum to look at welcome opportunities in hospitality with Rams.
Fifty million tourists are expected to pour into Los Angeles in 2020, and the Los Angeles Tourism and Convention Board (L.A. Tourism) wants to help local businesses meet those travelers’ needs.
FILM: Disney came out on top in season loaded with family, animated offerings.
Fish tale “Finding Dory” helped Disney reel in the summer box-office crown.
GAMBLING: Setback in cards with rule shift.
Some card rooms think they are getting a raw deal with a new state stance on third-party banking.
Chad Muska’s role includes serving as curator at space backed by Supra brand.
Skateboarder Chad Muska rolls into a pop-up creative space in collaboration with Supra brand.
DINING: Unit 120 founder sees space as means for chefs to cheaply test ideas.
Alvin Cailin’s Unit 120 offers room for restaurateurs to cook up menus and business plans.
Yoobi, Pharrell Williams’ collective team up to create products designed by kids.
School supply maker Yoobi banded together with musician Pharrell Williams on a kid-designed line.
Bruce Leeds waited nearly 50 years to indulge his childhood passion for Ferraris, but when he finally entered the Ferrari world, he did so with gusto.
Thursday, August 18
Amazon producing virtual and augmented reality content in Santa Monica, FreedomPop offers free WhatsApp data, and Atom Tickets expands nationally.
The Los Angeles Harbor Commission moved forward Thursday on plans for the first in a series of demolitions that will pave the way for a major overhaul of the Ports of Call waterfront district.
Caltrans reopened the 15 Freeway in both directions Thursday morning, two days after wildfires closed the major shipping corridor through the Cajon Pass, but some train routes were still delayed.
Wednesday, August 17
A federal class action filed Wednesday against USC claims the university breached its fiduciary duty to faculty and staff who participate in retirement fund programs through the school.
More than 24 hours after the Blue Cut fire forced BNSF Railway to halt its cargo trains moving through the Cajon Pass, the first trains were expected to roll out again late Wednesday afternoon.
Long-awaited improvements that would include rail access at the aging and congested Los Angeles International Airport may finally be able to move forward.
Snapchat has agreed to create 396 jobs in the state of New York in exchange for tax breaks totaling up to $5 million from Empire State Development.
Gwyneth Paltrow’s Goop is moving to Los Angeles, TeleSign Hires new chief executive, and Snapchat plans to expand New York office to 400 employees.
Tuesday, August 16
Los Angeles Department of Water and Power chief operating officer David Wright was appointed the agency’s interim general manager Tuesday by the Board of Water and Power Commissioners. He replaces Marcie Edwards, who announced her resignation earlier this month.
ChowNow integrated with Google search, Content Check acquires Honest Cooking, Intel to open L.A. virtual reality studio, and more.
A popular sandwich chain sued actor Jerry FerrarA popular sandwich chain sued actor Jerry Ferrara Tuesday in an attempt to expel the celeb from the ownership group alleging he undermined the restaurant and breached his contract. a Tuesday in an attempt to expel the celeb from the ownership group alleging he undermined the restaurant and breached his contract.
A steel and glass office building on the east side of Long Beach just sold for nearly $26 million, according to a source familiar with the transaction. The nearly 120,000-square-foot property called Park Tower was purchased by Anaheim-based Milan Capital Management from Bahrain-based Investcorp Bank B.S.C. The sale translates to just under $218 a square foot.
Hostess Brands co-owner Daren Metropoulos has purchased the Playboy Mansion for $100 million, he said in a statement. The deal, which allows 90-year-old Playboy Enterprises Inc. founder Hugh Hefner to spend the rest of his life living in the storied Holmby Hills estate, closed $100 million below the asking price, but likely marks a record home sale for Los Angeles.
Monday, August 15
The need for software engineers extends far beyond Silicon Beach, as businesses of all kinds work to bolster their online presence, according to a new report.
Twentieth Century Fox Television’s new series “Pitch” has taken advantage of the California Film Commission’s expanded $65 million tax credit program, but it’s also giving back to the local industry. The show’s team is building out an expanded soundstage at Paramount Studios in Hollywood to create the world of Ginny Baker, the first woman to play Major League Baseball – in the drama series, anyway.
Snapchat to acquire search engine app Vurb for $100 million, three L.A. companies bidding for Gawker Media, FireFly Games Raise $10 million, and more.
Despite multiple efforts to halt construction on the Metro’s planned extension of the Purple Line, the project keeps chugging along.
Westwood urban residential real estate investment and management firm CityView announced Monday that it had closed a $150 million equity fund to invest in multifamily housing in the Western and Southwestern United States.
Friday, August 12
Rio de Janeiro isn’t the only city with drama this summer.
LeEco building plant to be used by Faraday Future in China, Riot goes to court to stop League of Legend cheats, Arsenic raises $3 million seed round, and more.
Culver City-based healthcare solution company NantHealth, Inc. was the week’s biggest mover, gaining 14 percent to end at $11.50. Cadiz Inc. of Los Angeles was also among the week’s movers. The land and water resource company gained 12 percent to end at $7.80. Conservative Christian broadcaster Salem Media Group Inc. in Camarillo was the week’s biggest loser, dropping 15 percent to end at $6.04.
Container volume at the Port of Long Beach declined by 7.7 percent in July compared to the same month in 2015.
TECHNOLOGY: Devices by Appetize aim to speed up service at sports venues.
Appetize’s point-of-sale devices aim to help venues get a line on their concession stand needs.
Dodgers fans may turn to other players while Yasiel Puig in minors.
Sales of Los Angeles Dodgers’ items may swing lower with the demotion of Yasiel Puig.
LEDtronics, orchestra working in concert to develop bright idea.
Milwaukee Symphony Orchestra has taken a shine to LEDtronics’ lights for music stands.
UCLA student part of blossoming interest in ‘League of Legends.’
UCLA student Daphne Kim has made the grade as a “League of Legends” competitor.
Steve Craig, whose Craig Realty Group operates the Citadel Outlet mall in Commerce, is mostly preoccupied with commercialism.
Sites targeted for NFL stadiums now turn to other uses as Inglewood project moves forward.
The Rams’ choice of Inglewood lowered the boom on several competing stadium proposals.
FUNDING: Class action says Rams owe refunds to about 50,000 season-ticket holders.
St. Louis fans file a class action as they refuse to fold on their rights to seat licenses.
TV: Fox’s ‘Pitch’ creates Paramount soundstage for drama on woman player.
Twentieth Century Fox Television’s new series “Pitch” has taken advantage of the California Film Commission’s expanded $65 million tax credit program, but it’s also giving back to the local industry.
SPORTS: Sheppard Mullin trio helped ready pastime to board Summer Games.
The International Olympic Committee announced last week that surfing would be added as a sport in the 2020 Tokyo Olympics.
In a bid to compete with Amazon Web Services, Amazon Inc.’s fast-growing cloud-computing business, Google Inc. has acquired Orbitera for a reported $100 million.
Despite the higher costs of doing business here, Rams’ owner Stan Kroenke sees the value of being in L.A.
Angelenos should look to Brazil’s favelas to see risks of loosening rules, legalizing illegal residential units.
Jeremy Bagott points to Brazil’s favelas as a warning on allowing landlords to skirt laws on residences.
Joel Epstein presents a Pasadena businessman’s plan for narrowing the wage gap.
POLITICS: Pot fundraiser’s organizers hope to turn up heat on L.A. city officials.
Call it a pot fundraiser – not to buy weed but to raise money to wield more clout at City Hall.
Film producer and New York Giants co-owner Steve Tisch believes Rams, Los Angeles ready to play ball
Oscar-winning producer and New York Giants co-owner Steve Tisch talks how the Rams will play in Los Angeles.
CHILD CARE: Founder of Kangarootime hopes to boost focus on children.
App Kangarootime lets parents get a jump on connecting with teachers and preschools.
INTERNET: Stamps.com’s acquisitions continue to deliver for shareholders.
Stamps.com pursues package deals with the acquisition of shipping services.
MARKETING: Rams’ young stars set to take run at endorsements.
Los Angeles may prove a ripe field of endorsements for the Rams’ superstars.
LEASE: County pushing for major development at Gladstones’ current home.
Beachside seafood restaurant Gladstones in the Pacific Palisades might soon get washed away.
TV: HBO series gets up close for homecoming.
The NFL’s return to L.A. is the subject of early screen time in HBO documentary series “Hard Knocks.”
DINING: Tom’s Urban at L.A. Live among eateries to serve Rams on Sunday.
There’s a new game in town, and that means more potential business for sports bars and restaurants that cater to hungry fans.
MEDIA: Pulitzer-winning journalist accuses paper of harassment, retaliation.
Lawsuit from ex-staffer attributes departure from Los Angeles Times to harassment and retaliation.
FINANCE: Rams move to replace key revenue.
The Rams kick off their return without the help of long-term sponsorship deals and season-ticket holders.
Thursday, August 11
Another Snapchat filter causes uproar, Samsung Electronics to buy Dacor for an estimated $150 million, Flipagram announces partnership with SoundHound, and more.
The Port of Los Angeles reported a 5 percent rise in imports in July compared with a year earlier. Overall July volumes edged down 1.6 percent due to a drop in the shipment of empty containers. Compared to the same period last year, the port’s total volumes increased 2.9 percent to 501,186 20-foot containers.
Millennials, ahoy! Long Beach mainstay the Queen Mary is poised for a $15 million overhaul designed to attract a young, hip crowd, a Los Angeles-based developer announced on Wednesday.
Southern Korean smartphone maker Samsung Electronics America Inc. said today that it would acquire City of Industry-based Dacor Inc., a manufacturer of luxury kitchen appliances Dacor Inc., for an undisclosed amount.
Wednesday, August 10
El Monte-based company Driftwood Dairy, one of California’s largest processors of milk and dairy products, was snapped up Tuesday by Vietnam Dairy Products Corp., known as Vinamilk, located in Ho Chi Minh City, Vietnam.
When Gladstone’s lease expires in October 2017, the Pacific Palisades beachside restaurant may be eligible to snag a four-decade lease that would encourage investors to put up millions in renovation funds.
Soylent launches coffee drink, XPrize launches artificial intelligence contest, and Edmunds.com launches new Facebook and Instagram ad product.
A West Adams retail center built in 1924 sold for $6.6 million, or $295 a square foot, to a buyer who plans to convert the 22,400-square-foot site into a senior day care center.
The dust has yet to settle around the closing of the once trendy West Hollywood boutique Kitson, which closed its doors in December.
Tuesday, August 9
Pulitzer Prize-winning reporter Jeff Gottlieb sued the Los Angeles Times on Tuesday, claiming he resigned from the company due to “intolerable working conditions.”
Ares Management revenue jumped to $304 million, Colony Capital Inc. had solid quarter ahead of merger, Aecom rebounded with earnings, and Jacobs Engineering Group Inc. held steady with revenue.
Walt Disney to acquire stake in MLB streaming platform for $1 billion, SpaceX Ships rocket to Texas for preliminary testing, West Hollywood’s Opinit acquired by Canadian app developer, and more.
Walt Disney Co. will acquire a 33 percent stake in Major League Baseball’s video streaming company, BamTech, for $1 billion.
West Hollywood social media curation service Opinit has agreed to be acquired by Canadian app developer Fundamental Applications Corp.
Monday, August 8
Delta Air Lines Inc. said Monday it canceled hundreds of flights and delayed thousands of others due to a computer power outage.
Google buys Orbitera for reported $100 million, Hulu ends free viewing, shows based on 'The Voice,' 'SNL' coming to Snapchat, and more.
CIT, parent of OneWest Bank of Irvine, announced Monday that it’s providing $100,000 to the Los Angeles Latino Chamber of Commerce for technical assistance to small businesses.
In a move to align itself with its paid-subscription rivals, such as Netflix and Amazon Prime, television-streaming service Hulu of Santa Monica has ended its free-to-view streaming service.
Friday, August 5
At a company where ‘magic’ reigns supreme, some of Walt Disney Co.’s most valuable employees may have just received pink slips.
Facebook launches Snapchat-like camera, Wave VR raises to $2.5 million, Disney Channel launches short-form movies online, and more.
Monrovia-based surgical company STAAR Surgical was this week’s biggest mover, gaining 24 percent to end at $8.48. PennyMac loan services of Westlake Village was also among the week’s movers. The financial services company gained 21 percent to end at $15.26. Los Angeles-based online advertising technology firm Rubicon Project was this week’s biggest loser, dropping 31 percent to end at $9.69.
A look at the plots of this weekend's big new movie releases from a business perspective.
The Los Angeles County Museum of Art (LACMA) launched a new website on Thursday in an effort to publicly chronicle the upcoming $600 million makeover of the Wilshire Boulevard museum. The launch of BuildingLACMA.com also marked the start of the public review portion of the project, as L.A. County moves forward with a draft Environmental Impact Report preceding construction.
REAL ESTATE: Developers tap hipster haven for projects.
Developers hope downtown’s blossoming Arts District works as a home for office properties.
CEO Isaac Larian is game for more time in court to protect MGA’s line of Bratz dolls from Mattel
MGA’s Isaac Larian reveals how a dishwashing job played into his toymaking career.
ACQUISITION: Storefront buyer plans to shift gears to restaurant or retail site.
Across from the chic Melisse restaurant on Wilshire Boulevard in Santa Monica, a 23,500-square-foot property just traded hands for $16 million, or $680 a square foot.
For Will Carter there is nothing much like the mind-clearing effect of a good bike ride.
ENTERTAINMENT: Maker Studios’ content to support Disney brands, marketing.
YouTube video channel manager Maker Studios reframes strategy as part of Disney.
It’s all well and good to think outside the box, but when your box becomes a neighborhood blight it’s time to get conventional.
Long Beach managed health care services provider Molina Healthcare Inc. landed $117 million worth of Medicare Advantage accounts from national health insurers Aetna Inc. and Humana Inc. last week.
Google sees big office space opportunity in former residence of Spruce Goose
Google advances plans to relaunch the former Spruce Goose hangar as a massive office space.
TRANSIT: New venture to allow customers to order rides in Tesla’s Model X.
A new vehicle-sharing service is being launched to fight traffic congestion on L.A. roads.
POLITICS: Legislation to extend cap-trade program among bills drawing fire.
Business groups are targeting roughly a dozen key bills still remaining in Sacramento during the closing weeks of the legislative session.
ENERGY: Breitburn brass could receive millions from bankruptcy judge.
Executives at Breitburn Energy Partners, an L.A. oil and gas exploration partnership that filed for bankruptcy in May, could receive tens of millions of dollars in bonuses under a proposal to be considered in U.S. Bankruptcy Court on Aug. 18.
Could hair care line be washed up after class action?
Stylist Chaz Dean and direct marketer Guthy-Renker face further fallout over hair care products.
TECHNOLOGY: Sensay’s Crystal Rose sees robots helping humans connect.
Tech visionaries have long predicted that artificial intelligence, or AI, will destroy large swaths of human jobs.
FOOD: Soylent chief’s ‘housing’ container clash par for eccentric course?
CEO of meal replacement powder Soylent may have thought too outside the box in “housing” container feud.
Kite & Lightning turns to battling babies to nurture business plan.
Kite & Lightning hopes battling babies deliver as the VR firm’s first video game.
Thousand got rolling with healthy response to biking accessory.
Bicycle helmets proved a safe bet on Kickstarter for Thousand founder Gloria Hwang.
FASHION: Toni Ko hopes low price point fits with sunglasses.
Former makeup exec Toni Ko sees sunglasses as a ripe sector for her low price-point approach.
TRANSPORTATION: Skurt helps young users take wheel.
Car rental app Skurt aims to hit the brakes on fees for young drivers.
Thursday, August 4
Union officials for local grocery workers announced Thursday afternoon that they had reached a tentative contract deal with Ralphs, Vons and Albertson’s supermarkets, likely averting a strike that could have begun next week. The deal is subject to a vote of rank-and-file union workers on Monday.
Disney launches kid-safe messaging app, advertisers warming up to Snapchat, and Gwyneth Paltrow and Will.i.am join Apple's TV Show.
Viacom Inc.’s Paramount Pictures-led film division helped the embattled company beat analyst expectations for its fiscal third quarter, the company announced Thursday. Quarterly revenues of $3.11 billion, up 1.6 percent from last year, beat Wall Street’s expected $3.01 billion.
Across from the acclaimed Melisse restaurant on Wilshire Boulevard in Santa Monica, a 23,500-square-foot property just traded hands for $16 million, or about $680 a square foot.
Wednesday, August 3
Sensay raises $4.5 million, Time Warner purchases 10 percent of Hulu, Machinima coming to Amazon Prime, and more.
In its first earnings call since launching as tronc the rebranded Chicago owner of the Los Angeles Times reported a nearly 20 percent jump in second-quarter net income on Wednesday, with expansive cost-cutting efforts to thank as the media giant looks to its digital future.
BNSF Railway Co. said yesterday it will appeal a judge’s decision against the company’s $500 million project to expand a rail yard at the Port of Los Angeles.
The U.S. Environmental Protection Agency on Wednesday announced settlements with two Southern California facilities for improper handling of hazardous waste.
Tuesday, August 2
Instagram copies Snapchat Stories, RealD signs deal with China’s Wanda Cinema Line, Funny or Die cuts impact nearly a third of staff, and more.
Oprah Winfrey’s upcoming Disney film is among the 28 beneficiaries named in the latest round of California’s Film and Television tax credits, which were announced Tuesday by the California Film Commission.
Comedy website Funny Or Die is laying off 37 of its staffers and closing its San Mateo office as it refocuses its resources on creating content.
Monday, August 1
Several prominent artists seeking a cut of the profits from their works’ resale under a novel California law have been dealt another setback.
Petnet’s system goes down and angers customers, Technicolor to Launch virtual and augmented reality center, Virgin Galactic Gets Flight Testing License, and more.
Petnet said its third-party servers suffered an outage on Wednesday evening, temporarily disabling about 10 percent of its internet-connected pet feeders.
MWest Holdings of Sherman Oaks purchased the 170-unit Park Wilshire apartment in Westlake for $27.4 million and plans a $1 million renovation of the 92-year-old site near MacArthur Park.