Stories for May 2016

Tuesday, May 31

L.A. Tech Calendar: May 31 to June 12

Roundup of L.A. tech events in the next two weeks.

Meal-Kit Startup Chef’d Raises $12.3 Million

Online meal-kit seller Chef’d raised $12.3 million in Series A round financing.

Electro Rent Makes Deal With Platinum Equity

Electro Rent Corp. has been acquired by private investment firm Platinum Equity in a deal valued at more than $323 million.

Insurance Commissioner Urges Work Compensation Rate Cut

Good news for California employers: State Insurance Commissioner Dave Jones has recommended a 10.5 percent cut in the workers’ compensation premium rate that insurers charge employers.

Stocks Rise, Fall

The Dow Jones industrial average fell 86 points on Tuesday to close at 17,787. The S&P 500 fell 2 points to 2,097. The Nasdaq rose 15 points to 4,948 The LABJ stock index stayed steady at 231.

READER POLL: Do you collect art?

Do you collect art?

Jawbone Sells Off Parts

Beverly Hills-based company Jawbone Inc. will soon stop production of its fitness trackers and is looking for buyers for its speaker business, Bloomberg reports. The company has put its speaker business up for sale and has stopped production and sold its remaining fitness tracking inventory to a third-party reseller.

Netflix To Put Pause On Movie Releases

Netflix Inc. will not be releasing two films produced by Relativity Media LLC on its streaming platform ahead of their expected theatrical release, The Wall Street Journal reports. A bankruptcy judge issued an order forbidding Netflix to release two new movies, “Masterminds” and “The Disappointments of Room,” saying a premature debut could prove “devastating” for the studio that is still recovering from bankruptcy.

Viacom Directors Preempt Potential Takeover

Viacom directors have vowed to fight back if ailing media mogul Sumner Redstone or his daughter Shari Redstone attempt to eject them from the company’s board, The New York Times reports. The directors wrote a letter pre-empting any moves by the Redstones and makes it clear that any removal would be inconsistent with Mr. Redstone’s wish were he acting without undue influence and underscores that any attempt to remove directors from the board would be inconsistent with his previous wishes for the media company.

Mega Movies Flounder

“X-Men: Apocalypse” and “Alice Through the Looking Glass” were box office disappointments over the holiday weekend, making much less than their parent films, The Los Angeles Times reports. “X-Men” won the weekend with a four-day gross of $80 million while “Alice” made $34.2 million, down from the $116 million opening of the original Tim Burton film in 2010 and “X-Men: Days of Future Past” opening of $111 million in 2014.

Stocks Mixed

The Dow Jones industrial fell 10 points in early Tuesday trading to 17,864. The S&P 500 rose 2 points to 2,101. The Nasdaq rose 12 points to 4,945. The LABJ stock index stayed steady at 230.

Monday, May 30

Buyer Doubles Down in Glendale Office Market

SALE: Granite pairs up adjacent properties with $80 million acquisition.

Granite Properties has purchased a 21-story Glendale office tower at 550 N. Brand Blvd. for just under $80 million, bulking up its Tri-Cities portfolio.

Working It Out

Five decades into career, Charles Arnoldi still spends six days a week in studio without an eye on sale prices

Charles Arnoldi invests time in his career without concern for big paydays.

L.A. Developers Take Part in Giving to Public Art

GOVERNMENT: Some like to have say in how levy on their projects will be spent.

Some L.A. developers have embraced the city’s 1 percent levy to fund public art projects in the city.

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It Pays to Be Cautious When Treating Art as Asset

INVESTMENT: Some works require upkeep, often fail to generate sizable returns.

For some collectors, artworks serve to provide financial as well as emotional payoffs.

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Initiative Aims to Help L.A., Angelenos Age Well

Paul H. Irving touts a city and state initiative that will help the region better serve and connect with its aging residents.

Reframing Los Angeles

The Broad, other local institutions have helped start dialogue in region on true value of art to the public.

Museum supporter and founder Eli Broad sees value in reaching out and connecting with L.A.’s diverse population.

Art Appreciation

The impact of the arts on the region is great, and extends well beyond economics.

Conventions

Upcoming conventions

Calendar

Calendar of events

Port of Long Beach Will Dive Into Local Hiring

SHIPPING: Project labor agreement sets 40 percent quota for construction jobs.

More local workers will be hired for construction projects at the Port of Long Beach under a plan approved by the Board of Harbor Commissioners.

Music Manager Expands Focus to Photography

ART: Father of Simpson sisters creates works taking cues from Andy Warhol.

Joe Simpson, father and manager of singer-actresses Jessica and Ashlee Simpson, is out to reinvent himself as the Andy Warhol of Los Angeles, having taken on a new career as an artist.

Some Agencies Play Part Of Fine Arts Middleman

ENTERTAINMENT: Linking artists, projects cuts into galleries’ traditional role.

Talent agencies look to carve out a role in connecting artists to branding and other projects.

A Look Ahead: What’s on the agenda for Los Angeles business in the coming week

FILM: Annual festival looks to play role in promoting women, minority talent.

The 2016 L.A. Film Festival, which starts Wednesday and will go through June 9, is expected to draw 90,000 attendees united by an interest in discovering and supporting independent filmmakers.

TV Hospitable to Exec

Omar Spahi recently sold a $4.4 million co-op in Santa Monica under the bright camera lights of Bravo’s reality show “Million Dollar Listing.”

Bad Breakups Put Together For Exhibits

John Quinn to hook up museum visitors with broken relationships.

Attorney John Quinn is introducing the Museum of Broken Relationships to the heart of Hollywood.

Lighting Firm Local Fixture Since 1956

Paul Ferrante founder Tommy Raynor still takes shine to business.

After 60 years, firm Paul Ferrante is still proving a bright idea for founder Tommy Raynor.

No Resale Cut?

Federal judge’s ruling against the California Resale Royalty Act could prove a costly blow to artists.

Deepest Pockets In Paper’s Fold

MEDIA: Patrick Soon-Shiong looks to take Times high-tech.

New Los Angeles Times investor Patrick Soon-Shiong sees his adapted medical tech providing a healthy boost to the paper.

Sunday, May 29

Collectors Now Look to Hang With Artists Online

INTERNET: Saatchi Art’s site offers virtual opening to promote, sell works.

Websites such as Saatchi Art offer artists a new way for their works to click with collectors.

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Friday, May 27

Mayor Eric Garcetti Appoints Two Deputy Mayors to Oversee Economic Agenda

Los Angeles Mayor Eric Garcetti on Friday appointed two deputy mayors to oversee his economic agenda, replacing Deputy Mayor Kelli Bernard, who left earlier this month to take an executive position at Aecom.

Silicon Beach Deal Flow: May 27

A weekly roundup of must-read L.A. tech investments and acquisitions.

Silicon Beach Launch List: May 27

A weekly roundup of L.A. tech company and product launches.

Universal Music Acquires Digital Marketer Fame House

In a push to further diversify its business, Universal Music Group has acquired Fame House, a digital-marketing agency with musician clients such as Eminem and Pearl Jam. Terms of the deal were not disclosed.

Downtown L.A.’s Prices, Spaces Pull in Galleries

LOCATION: Arts District proves popular home for places to showcase works.

Downtown L.A.’s Arts District shows it can hang with other cities as a home to galleries.

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Artistic Haven

MANUFACTURING: Gemini still hailed as producer of fine prints.

Gemini G.E.L. is marking 50 years of providing its services in exchange for a few signed prints.

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What to Watch this Weekend: X-Men: Apocalypse, Alice Through the Looking Glass

A look at the plots of this weekend’s big new movie releases from a business perspective.

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Gallery Influx Could Squeeze Veteran Operators

EXHIBITION: Competitive new arrivals draw mixed reaction from old guard.

Influx of new galleries complicates the picture for longtime operators.

City Long Framed as Artist Enclave

REAL ESTATE: Inglewood’s low costs big draw for studios.

Inglewood fielded an artists’ enclave long before pro football came knocking for a stadium.

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Movers for Week Ending May 27, 2016

Downtown-based Breitburn Energy Partners LP was this week’s biggest mover, gaining 45 percent to close at 10 cents. Culver City-based clinical-stage immunotherapy company Nantkwest Inc. was also among the week’s big movers gaining 22 percent to close at $7.40. Hemp developer Notis Global Inc. in downtown was the week’s biggest loser, dropping 35 percent to 3 cents.

Stocks Continue to Rise

The Dow Jones industrial average rose 45 points on Friday to close at 17,873. The S&P 500 rose 9 points to 2,099. The Nasdaq rose 32 points to 4,933. The LABJ stock index rose one point to 231.

Electric Cars Get Charged Up

Gardena-based electric car company Faraday Future is hoping to add a Vallejo facility to its production plans, the Los Angeles Times reports. The electric car company could take over a 157-acre parcel on Mare Island and hopes to better compete with Tesla as well as attract talent from Silicon Valley to its second manufacturing facility.

Movie Studios Have Reservations Over Exclusivity

Four major movie studios said they will no longer participate in “clearance” requests from theaters, The Wall Street Journal reports. The practice, which gives some theaters exclusive rights to certain movies in a market, has drawn ire from the Justice Department because smaller theater operators say it allows larger chains to dominate the field.

Expo Line Tallies 12,000 Trips

The newly completed Expo Line linking DTLA with Santa Monica generated 12,000 trips on its first day, KPCC reports. The 6.6-mile line that officially opened on Monday includes seven new stations and takes 50 minutes to get from the city to the beach.

Could Cell Phones Cause Cancer?

A study conducted by the National Toxicology Program has found a link between cellphone use and cancer, The Wall Street Journal Reports. The multiyear, peer-reviewed study found “low incidents” of two types of tumors in rats exposed to the type of radio frequencies commonly emitted by cell phones and counters the government’s official position that says evidence hasn’t linked cell phones to any health risks.

Stocks Rise

The Dow Jones industrial rose 27 points in early Friday trading to 17,855. The S&P 500 rose 5 points to 2,095. The Nasdaq rose 15 points to 4,917. The LABJ stock index rose one point to 231.

Thursday, May 26

Granite Properties Makes Rock-Solid Real Estate Deal in Glendale

Granite Properties has purchased a 21-story Glendale office tower at 550 North Brand Blvd. for just under $80 million, bulking up its Tri-Cities portfolio. Granite, based in Plano, Texas, now owns about 1 million square feet of offices in Glendale and Burbank, including the Brand Boulevard neighbor of its newest purchase.

SpaceX Scheduled to Nearly Triple Launches This Year

Space Exploration Technologies Corp.has officially scheduled 17 launches for 2016, nearly tripling the company's six rocket launches last year, Spaceflight Now reports.

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Snapchat Raises $1.2B, Aims at Explosive Growth

Snapchat has raised a $1.2 billion round of capital, according to a filing with the Securities and Exchange Commission. The valuation of the Venice company was not disclosed.

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Stocks Mixed

The Dow Jones industrial average fell 23 points on Thursday to close at 17,829. The S&P 500 fell one point to 2,090. The Nasdaq rose 7 points to 4,902. The LABJ stock index stayed flat at 230.

Tribune Publishing Shareholders Restless

More Tribune Publishing investors are speaking out after the company rejected a buyout bid from Gannett and instead accepted an equivalent offer from Los Angeles billionaire Patrick Soon-Shiong, The Los Angeles Times reports. Its third-largest shareholder, Oaktree Capital Management and St. Louis investment firm Towle & Co criticized the transaction as a “disturbing development” and have raise the prospect of litigation.

Ousted Redstone Trustees Fight Back

Shares of Viacom shot up after 92-year-old media mogul Sumner Redstone jettisoned CEO Philippe Dauman and George Abrams from the seven-person trust overseeing his holdings, the Hollywood Reporter reports. Dauman has sued to be reinstated, but some insiders are expecting Redstone’s daughter Shari, to keep both men out.

Bullet Train Financing Slows Down

Financing for the state’s planned $64 billion high-speed rail fell short after the latest cap-and-trade auction for greenhouses gasses raised just $10 million for state programs, including only $2.5 million for the bullet train, the Los Angeles Times reports. The rail authority had been expecting financing from the deal of about $150 million and had been counting on the fees to fulfill its obligation of matching about $3.5 million in federal grants.

Bike Around L.A.

Angelenos will be able to bike around DTLA using rent-a-bike kiosks as part of a pilot program this summer, Curbed LA reports. Riders can use their current TAP card or sign up for a new bike share card to rent the more than 1,000 bikes from 65 hubs after the program opens on July 7.

Stocks Fall

The Dow Jones industrial fell 8 points in early Thursday trading to 17,843. The S&P 500 fell 2 points to 2,089. The Nasdaq fell 6 points to 4,889. The LABJ stock index stayed flat at 230.

Wednesday, May 25

Victorious Raises $25 Million to Develop Apps for Super Fans

Santa Monica-based app creating company Victorious has raised $25 million to expand its services internationally and improve its app development capabilities.

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Edison CEO Craver to Retire; Pizarro to Take Reins

Edison International announced on Wednesday that Theodore F. Craver Jr., the Rosemead energy company’s chairman and chief executive will retire in September, keeping with the company’s practice of its chief executive retiring upon reaching age 65.

Mayor’s Cup Challenges Academic Entrepreneurs to Find Civic Solutions

Los Angeles Mayor Eric Garcetti’s office is giving entrepreneurs in the academic community the chance to win $25,000 if they can come up with a marketable idea to boost the city’s economic and civic growth.

Stocks Continue to Rise

The Dow Jones industrial average rose 145 points on Wednesday to close at 17,852. The S&P 500 rose 14 points to 2,091. The Nasdaq rose 34 points to 4,895. The LABJ stock index rose one point to 230.

Long Beach Port Chief Sees Ongoing Slide

Jon Slangerup, chief executive of the Port of Long Beach, says he expects the shipping industry to see one to two more years of losses, Bloomberg reports. His comments came as a research report was released projecting industry losses of $6 billion in 2016 due to shifting demand, low fuel prices, and an excess of container ships.

Redstone Appoints New Stewards

After dismissing two of the trustees of the entity controlling his media empire last week, Sumner Redstone has appointed two new stewards to fill the vacancies, The Wall Street Journal Reports. Jill Krutick and Tad Jankowski will join the seven-member trust that will oversee his controlling stakes in Viacom Inc. and CBS Corp. when he dies or is deemed incapacitated. His granddaughter Kimberlee Ostheimer was appointed to the board of National Amusements.

SpaceX Blasts Away

SpaceX is planning to attempt its fifth rocket launch of the year out of Cape Canaveral, Fla., on Thursday, Business Insider reports. The Falcon 9 rocket will be carrying a 7,000-pound satellite that will provide TV and internet to Southeast Asia. SpaceX also hopes to attempt its third successful at-sea landing on a drone ship in the Atlantic.

Caltech Professor First Woman to Collect $1.1M Prize

A Caltech bioengineer has become the first woman to win the $1.1 million Millennium Technology Prize for her pioneering work in directed evolution, the Daily News reports. Frances Arnold is a professor of chemical engineering, bioengineering and biochemistry and is the fourth U.S. Citizen to win the prestigious prize.

Stocks Rise

The Dow Jones industrial rose 116 points in early Wednesday trading to 17,824. The S&P 500 rose 13 points to 2,089. The Nasdaq rose 22 points to 4,883. The LABJ stock index rose 1 point to 229.

Tuesday, May 24

March Capital Closes $240 Million Fund

Venture capital firm March Capital Partners of Santa Monica closed a $240 million fund on Tuesday to back dozens of technology start-ups worldwide.

Kelly Slater Wave Co. Sells Majority Stake to the World Surfing League

Santa Monica-based artificial wave-making company Kelly Slater Wave Co. has agreed to sell a majority stake to the World Surf League. Terms of the deal were not disclosed.

NFL Awards 2021 Super Bowl LV to Los Angeles

The biggest football game of the year will kick-off in Inglewood in 2021. Super Bowl 55 will take place at the 80,000-seat Los Angeles Rams stadium that’s set to open in 2019, the National Football League announced on Tuesday.

Under Armour Pens $280M Deal With UCLA

UCLA teams will be soon getting a new look for its sports teams thanks to a 15-year record-breaking $280 million deal between performance footwear and apparel brand Under Armour and the university.

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Stocks Continue to Rise

The Dow Jones industrial average rose 213 points on Tuesday to close at 17,705. The S&P 500 rose 28 points to 2,076. The Nasdaq rose 95 points to 4,861. The LABJ stock index rose three points to 228.

READER POLL: Does the idea of sharing living quarters, even for a brief time, appeal to you?

READER POLL: Does the idea of sharing living quarters, even for a brief time, appeal to you?

Viacom Executives Fight Back

Viacom executives Philippe Dauman and George Abrams, ousted last week from the trust that manages Sumner Redstone’s holdings, are firing back. The pair allege in a suit filed Monday that the media mogul is being subject to undue influence by his daughter, The New York Times reports. Dauman, Viacom’s chairman and chief executive, is calling the move “an unlawful corporate takeover.”

Battery Recycler Gets Charged Up

City of Industry battery recycler Quemetco will start testing the soil around its plant at the end of the month, KPCC reports. Soil in major thoroughfares, creek beds, and residences within a quarter-mile of the plant will also be tested by September.

Front Page News for Soon-Shiong?

Billionaire and Wealthiest Angeleno Patrick Soon-Shiong wants to use “machine vision” technology and update the reader experience with his $70.5 million investment in Tribune Publishing Co., Bloomberg reports. Soon-Shiong will become the second-largest shareholder and vice chairman of the board with his 12.9 percent stake.

Ares Capital Buys Lender For $3.4B

Ares Capital Corp. said yesterday it would acquire American Capital Ltd. in a deal valued at $3.4 billion, Bloomberg reports. Ares Capital will pay $14.95 a share in cash for the company, and the combined operation will manage more than $13 billion.

Sanders Brings Out Backers

Presidential hopeful Bernie Sanders packed an Eastside Los Angeles baseball field and Santa Monica High School stadium in a last-minute attempt to appeal to Southern California voters, the Daily News reported. Donald Trump will be in Los Angeles on Wednesday for a fundraiser hosted by private equity investor and friend Thomas Barrack as well as an event at the Anaheim Convention Center.

Stocks Rise

The Dow Jones industrial rose 174 points in early Tuesday trading to 17,667. The S&P 500 rose 19 points to 2,067. The Nasdaq rose 50 points to 4,817. The LABJ stock index rose 2 points to 227.

Monday, May 23

L.A. Tech Calendar: May 23 - June 5

Roundup of L.A. tech events in the next two weeks.

HelloTech Merges with Rival Geekatoo

In a move that greatly expands its service area, in-home tech-support company HelloTech has merged with rival Geekatoo of San Francisco. Terms of the deal were not disclosed.

Green Dot Corp. CEO Will Likely Keep Board Seat

Green Dot Corp. Chief Executive Steven Streit will likely be re-elected to his company’s board, according to a preliminary vote count from Monday’s annual stockholders meeting, the company announced this morning.

California State Chamber Opposes Ballot Measure to Extend Income Tax Hike

The California Chamber of Commerce announced Monday that it is opposing a likely November ballot measure to extend the income tax increase of Proposition 30 until 2031.

Stocks Fall

The Dow Jones industrial average fell 8 points on Monday to close at 17,493. The S&P 500 fell 4 points to 2,048. The Nasdaq fell 4 points to 4,766. The LABJ stock index fell one point to 225 points.

Soon-Shiong Takes Stake in L.A. Times Owner

Tribune Publishing Co. said this morning that Patrick Soon-Shiong’s Nat Capital had taken a 12.9 percent stake in the beleaguered owner of the Los Angeles Times. The transaction, valued at $70 million, or $15 a share, matches the latest price offered by Gannett Co., The Wall Street Journal reports. Soon-Shiong, with a net worth of $15.4 billion, will become the vice chairman of Tribune Publishing in June.

CBRE Sells Site For $330M

CBRE Global Investors has sold its parent company CBRE’s headquarters in downtown for $330 million after bringing it to nearly full occupancy and making numerous renovations, the Los Angeles Business Journal reports. It had owned the 26-story building since it acquired it for $238 million 2012.

Build Higher in Beverly Hills?

Real estate investor Beny Alagem wants Beverly Hills voters to approve a plans for a 26-story high rise next to the Beverly Hilton Hotel, the Los Angeles Times reports. The plan would include 110 condos and a 1.7-acre park with art sculptures and a rose garden.

Redstone Lieutenants Bumped from Trust

Two of media mogul Sumner Redstone’s longtime colleagues were dismissed as trustees for the trust that manages his holdings in Viacom Inc. and CBS Corp. over the weekend, The Wall Street Journal reports. Viacom Chief Executive Philippe Dauman and Director George Abrams claim Redstone, who has recently been embroiled in a legal fight over his mental capacity, would never have made this decision and is being manipulated by his daughter Shari Redstone who they allege is angling for control of the companies.

Moviegoers Flock To “The Angry Birds Movie”

“The Angry Birds Movie” beat back “Captain America: Civil War” as the No. 1 box office movie over the weekend making $39 million, the Associated Press reports. “Captain America: Civil War” made $33.1 million while “Neighbors 2” trailed with $21.8 million and and “The Nice Guys” grossed $11.3 million.

Stocks Mixed

The Dow Jones industrial fell 11 points in early Monday trading to 17,490. The S&P 500 fell 2 points to 2,051. The Nasdaq rose 13 points to 4,783. The LABJ stock index stayed flat at 226.

El Segundo Seeks to Keep Lid on LAX Passengers

AVIATION: 78.9 million cap expired last year; proposal would allow 96.6 million.

City of El Segundo seeks to keep the allowed annual number of passengers at LAX from taking off.

Denim Execs Get Hang of Flying Yoga

James Jeans founders form D&A studio to give discipline a lift.

The future of D&A Flying Yoga studio is up in the air.

Market Vendors Fear Moving From 7th Street Produce Market

FOOD: Rents rise for produce wholesalers under new landlord.

Wholesalers fear being boxed out by 7th Street Produce Market’s rising rents.

Trucker Classification Fight Proves Costly Battle

SHIPPING: Some firms file for bankruptcy amid drive for employee standing.

Legal battles over classifying truckers as employees put some firms on the road to bankruptcy.

A Look Ahead: What’s on the agenda for Los Angeles business in the coming week

FOOD: Conference to field rooting interest in growing sales of natural products.

As natural food sales soar past $100 billion, stakeholders and investors in the booming industry are preparing to gather for the inaugural Food 2.0 conference June 7-9 at downtown L.A.’s Millennium Biltmore Hotel.

Backlog Can Make Court Costs Tough to Judge

LAW: Recession-spurred cutbacks resulted in system that can drag out litigation.

Verdict is in: Backlogged courts can drag out business disputes and drive up legal costs.

Co-Living Firm Squeezes ’Em In

HOSPITALITY: PodShare hopes tight space stacks up as business.

PodShare has found room in the temporary residential market with its low-cost shared spaces.

Paper Chase

While the Times flounders, Hollywood trades have stayed viable.

Conventions

Upcoming conventions

Calendar

Calendar of events

Investor Checks Out of Complex for Big Payday

SALE: Blackstone Group’s 50 percent stake in office property nets $500 million.

In the biggest Westside deal in recent months, Blackstone Group is selling its 50 percent stake in the Colorado Center office complex in Santa Monica for more than $500 million, or just over $900 a square foot.

Startup Makes Off With Gangster Film in $50 million deal

The biggest deal at this month’s Cannes Film Festival was the $50 million winning bid from STX Entertainment for international distribution rights to Martin Scorsese’s new gangster film, “The Irishman.”

Vet Exec Helped Sow Fashion District’s Growth

NONPROFIT: Kent Smith to leave business district after 17 years at helm.

When Kent Smith became executive director of LA Fashion District 17 years ago, the business improvement district only spanned 18 blocks.

Health Management Program Clicks With Buyer

Canary Health, a developer of patient health management software, has acquired mental health management online program bLife in an all-stock deal.

‘Regulation Crowdfunding’ Offers Money, Risks

INVESTMENT: New rules let firms tap unaccredited, lower-net-worth backers.

Companies looking to raise cash got another option last week.

State Bill Would Revamp Rules on Rehab Centers

HEALTH CARE: Operators fear cities could shut down facilities, block new ones.

Owners and operators of drug addiction treatment centers are up in arms over a bill in Sacramento that could give local officials more tools to shut them down or block new rehab facilities.

Newspaper Owner Takes Itself Out of Circulation

MEDIA: Tribune Publishing spurns traditional protocol in rejecting Gannett’s bid.

Los Angeles Times’ parent Tribune Publishing may not be delivering for investors by rebuffing an acquisition offer.

Plane Models Provide Lift for Plastic Surgeon

When plastic surgeon David Feldmar isn’t reconstructing people, he’s constructing model airplanes.

Development Hits Home For Attorney

Alfred Fraijo Jr. looks to court businesses for Boyle Heights project.

Attorney Alfred Fraijo Jr. hopes to make the case for his hometown Boyle Heights as a business center.

Plane Cleaner Adds Services To Land Jobs

Gary Privitera’s firm high on opportunities beyond just detailing.

Gary’s Aircraft Detailing says business has taken off with the addition of new services.

Sunday, May 22

Bad Buzz Hits Charging Firm uBeam Inc

New criticism of its wireless-charging system could hurt uBeam’s connection with investors.

Subscription Box Business Set to Ship Out Again

INTERNET: Need for more space spurs FabFitFun into second move in three years.

FabFitFun is on the move again as its growing subscription lifestyle box business requires a bigger home.

Variety Recasts Print Publication in Heated Showbiz Battle

MEDIA: Variety recasts print publication in heated showbiz battle.

Variety raises the curtain on a print redesign in a running battle among showbiz trade publications to draw readers.

Friday, May 20

Silicon Beach Deal Flow: May 20

A weekly roundup of must-read L.A. tech investments and acquisitions.

Breitburn Gets OK to Tap Bankruptcy Loan

L.A. oil firm Breitburn Energy Partners has received court approval to draw on $75 million in financing to sustain itself during bankruptcy proceedings.

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Silicon Beach Launch List: May 20

A weekly roundup of L.A. tech company and product launches including StartEngine, Rubicon, OpenX and Esri.

Imax Launching Virtual Reality Arcades and Camera

Imax Corp. has announced it will launch six virtual reality arcades in locations such as multiplexes and malls.

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What to Watch This Weekend

A look at the plots of this weekend’s big new movie releases from a business perspective.

County Unemployment Rate Lowest in Nine Years

L.A. County’s unemployment rate continued its rapid descent in April, falling to its lowest point in nine years.

PE Roundup: Private Equity Deals and Funds Announced May 16-20

Beverly Hills private equity firm Levine Leichtman Capital Partners announced Monday that is has completed the acquisition of Pacific Handy Cutter Inc., a Costa Mesa manufacturer of cutting tools and replacement blades, from private equity firm American Capital Ltd. Terms of the deal were not disclosed.

Movers for Week Ending May 20, 2016

Los Angeles real estate acquisition company InterGroup Corporation was the week’s biggest mover, gaining 22 percent to close at $32.35. Puma Biotechnology, Inc. in West Los Angeles was also among the week’s big movers. The bio pharmaceutical company’s shares rose 22 percent to close at $31.95. Breitburn Energy Partners of downtown Los Angeles was the week’s biggest loser, dropping 62 percent to close at 7 cents.

Stocks Continue to Rise

The Dow Jones industrial average rose 66 points on Friday to close at 17,501. The S&P 500 rose 12 points to 2,052. The Nasdaq rose 57 points to 4,767. The LABJ stock index rose two points to 226 points.

Blackstone Sells Stake in Santa Monica Office Property for $500M

Blackstone Group is selling its 50 percent stake in a Santa Monica office complex for more than $50 million, the Los Angeles Business Journal reports. The investment firm is selling its interest in Colorado Center, a six-building campus, to Boston Properties Inc., a real estate investment trust.

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Catch the Train

The new Expo Line from downtown to Santa Monica opens at noon today. The train bypasses the 10 freeway and takes 50 minutes to get from downtown the beach, with fares at $1.75 for up to two hours using the Transit Access Pass (TAP) card already used on California public transportation services, KPCC reports.

San Pedro Port Closer to Facelift

The developers planning to transform the Ports O’ Call Village in San Pedro were approved for a 50-year land lease by the Board of Harbor Commissioners yesterday, the Daily News reports. Ratkovitch Co. and Jerico Development plan to transform the 30 acres of aging port into a $150 million San Pedro Public Market that could include a ferris wheel and carousel as well as a discovery sea park. City Council approval is still needed.

Snapchat the New Facebook?

Snapchat is working on a new algorithm would give brands and media accounts the top spot in user’s content feeds, a departure from the current design that displays the content by user’s interest and previous engagement, Business Insider reports. The change would give brands more control of who sees engages with their content and is likened to the algorithm already used on Facebook.

Stocks Rise

The Dow Jones industrial rose 129 points in early Friday trading to 17,565. The S&P 500 rose 15 points to 2,055. The Nasdaq rose 47 points to 4,758. The LABJ stock index fell one point to 225.

Thursday, May 19

Canary Health Buys Mental Health Program bLife

West L.A.-based Canary Health, a developer of patient health-management software, has acquired mental health program bLife in an all stock deal. Terms were not disclosed.

Stocks Continue to Fall

The Dow Jones industrial average fell 91 points on Thursday to close at 17,435. The S&P 500 fell 8 points to 2,040. The Nasdaq fell 27 points to 4,712. The LABJ stock index fell two points to 223 points.

Oaktree Capital Hits Snag

Bill Egan, the former Bank of America executive who was starting a reinsurance venture with Los Angeles-based Oaktree Capital Group, has cut ties with the asset manager, Bloomberg reports. The split follows the company’s struggle to raise enough funds to set up a large enough operation as well as lack of investor interest in the industry.

Tribune Urged to Reconsider Gannett Offer

Tribune Publishing Co.’s second-largest shareholder wants the board to reconsider Gannett Co.’s $474 million unsolicited takeover, The Wall Street Journal reports. In a strongly worded letter to the Tribune board, Oaktree Capital Management Chairman John Frank said he had little confidence the company’s new management team would find another deal as good as the one now on the table.

Tesla Electrifies Production

Elon Musk’s Tesla Motors Inc. is is looking to fund faster production of its more affordable Model 3 sedan by selling $2 billion worth of stock, the Los Angeles Times reports. The company plans to begin produce up to 500,000 cars a year at its factory in Fremont by 2018, two years ahead of earlier estimates.

Redstone, One of L.A.’s Wealthiest, Gets Pay Cut

Sumner Redstone, the 92-year-old billionaire chairman emeritus of Viacom, will no longer be receiving a paycheck from the company, The Wall Street Journal reports. Redstone has long been distance from operations and is now the subject of a legal fight over his mental competency.

Stocks Fall

The Dow Jones industrial fell 64 points in early Thursday trading to 17,4962. The S&P 500 fell 8 points to 2,040. The Nasdaq fell 18 points to 4,721. The LABJ stock index fell 2 points to 223.

Wednesday, May 18

Snapchat Could Launch Facebook-like Newsfeed

Photo-messaging app Snapchat is reportedly preparing to launch a Facebook-like newsfeed.

Cinedigm Becomes Largest Faith-based Streaming Service With StoryBox.tv Acquisition

Century City-based entertainment distribution company Cinedigm Corp. has reached a deal to to buy nearly all of the content owned by StoryBox.tv, a family-friendly, multi-platform streaming service based in Utah.

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Stocks Mixed

The Dow Jones industrial average fell 3 points on Wednesday to close at 17,527. The S&P 500 stayed flat at 2,048. The Nasdaq rose 23 points to 4,739. The LABJ stock index fell one point to 225 points.

Activision Executives Make $1.2B in $100M Deal

Bobby Kotick and Brian Kelly, chief executive and chairman, respectively, of Activision Blizzard, stand to pull in $1.2 billion from their $100 million bet on the company in 2013. Bloomberg reports the payout comes as a result of the deal to buy out French telecom giant Vivendi SA’s 601 million-share stake in the business.

A 1 Percent Solution to Homelessness?

Top earners in Los Angeles may be paying more to combat homelessness if a ballot measure to tax personal income above $1 million goes through, the Daily News reports. The Board of Supervisors directed its staff to seek a change in state law that would allow it to pursue the ballot measure and to audit the county’s spending on homelessness.

Arsenic Emissions Problematic for Plant

City of Industry battery recycler Quemetco was told to cut arsenic emissions after officials discovered the plant posed an increased cancer risk to 12,000 nearby residents, the Los Angeles Times reports. The cut was mandated by more stringent state guidelines in the wake of a report that breathing air pollutants is three times more dangerous than originally thought.

SoCal Home Prices Jump

Home prices in Southern California jumped 5.6 percent in March from a year earlier, KTLA reports, citing data from CoreLogic. The median home price hit $449,000, up from $425,000 last year. Stay tuned for the Business Journal’s home price data in next week’s edition.

Stocks Fall

The Dow Jones industrial fell 40 points early Wednesday trading to 17,490. The S&P 500 fell 3 points to 2,044. The Nasdaq rose 7 points to 4,722. The LABJ stock index rose stayed flat at 225.

Tuesday, May 17

Supreme Court Delivers Victory for People-Search Firm Spokeo

The U.S. Supreme Court has handed people-directory site Spokeo of Pasadena a victory in its defense of a class-action lawsuit alleging the company should be held financially liable for publishing false information.

Starting Salaries in Los Angeles Are 12 percent Higher Than National Average

The average starting salary for college graduates in Los Angeles is about $54,000 – 12 percent higher than entry-level salaries across the nation, according to a study released Tuesday by Century City executive search firm Korn Ferry.

Stocks Fall

The Dow Jones industrial average fell 181 points on Tuesday to close at 17,530. The S&P 500 fell 19 points to 2,047. The Nasdaq fell 60 points to 4,716. The LABJ stock index fell three points to 226 points.

READER POLL: Would an Apple store downtown mean the neighborhood has officially arrived?

READER POLL: Would an Apple store downtown mean the neighborhood has officially arrived?

Tobacco Tax Aims to Choke Off Smoking

Backers of a ballot measure to slap a $2 tax on each pack of cigarettes says they have enough signatures to put the matter on the Nov. 8 ballot, Associated Press reports. The effort is aimed at discouraging smoking while raising money for anti-smoking campaigns and tobacco-related health research.

Earthquake Early Warning System Shakeup

California’s early earthquake warning system will be getting beefed up if Gov. Jerry Brown’s latest budget proposal is passed by the state legislature, KPCC reports. The project would allocate $10 million for the pilot project and would use sensors placed near faults to detect the rumbling of the quake as it starts and could give up to a minute’s warning time before shaking reaches major cities.

Angry Birds Marketing Spends $400M

The “Angry Birds” video game marketing push for the new movie has reached an estimated $400 million, the Los Angeles Times reports. The price tag makes it the biggest campaign for an animated movie by Sony movie and eclipses the movie’s $73 million production cost.

Voting Registration Deadline Draws Near

The U.S. Consumer Price Index made its highest increase in more than three years, CNBC reports. The 0.4 percent rise could give the Federal Reserve the opportunity to raise interest rates later this year.

Stocks Fall

The Dow Jones industrial fell 39 points early Tuesday trading to 17,625. The S&P 500 fell 4 points to 2,058. The Nasdaq fell 5 points to 4,370. The LABJ stock index rose stayed flat at 229.

Monday, May 16

L.A. Tech Calendar May 16 - 29

Roundup of L.A. tech events in the next two weeks.

Connexity Debuts New Audience Measurement Tool

Digital marketing company Connexity has launched a new audience measurement and analytics platform named AudienceView.

Gannett Boosts Offer for L.A. Times Parent Tribune Publishing

Gannett Co. has increased its offer to acquire Tribune Publishing, the corporate parent of the Los Angeles Times.

Oil Firm Breitburn Energy Files for Bankruptcy

L.A. oil firm Breitburn Energy Partners filed for Chapter 11 bankruptcy protection Monday after attempting to stave off insolvency for months. Breitburn Chief Executive Hal Washburn said in a statement the company had enough capital to continue its operations as normal during restructuring efforts.

Stocks Continue to Rise

The Dow Jones industrial average rose 175 points on Monday to close at 17,711. The S&P 500 rose 20 points to 2,067. The Nasdaq rose 58 points to 4,775. The LABJ stock index rose one point to 230 points.

Breitburn Files for Chapter 11

Breitburn Energy Partners said it had filed for Chapter 11 bankruptcy protection this, Reuters reports. The oil and gas master limited partnership has been hit hard by low commodity prices.

Buffett Backs Yahoo Bid

Warren Buffet’s Berkshire Hathaway Inc. will be backing Dan Gilbert, chairman of Quicken Loans, to finance a bid to acquire Yahoo Inc., The New York Times reports. The news comes as Berkshire announced Monday it had a $1 billion stake in Apple Inc.

White Collar Workers May Make More

A final ruling is expected soon from the Department of Labor that would require white-collar workers eligible for overtime, Marketplace reports. Workers who make at least $23,660 a year don’t receive overtime, but the new rule would make almost 5 million eligible. 

Late TV Exec’s Palisades Home Lists for $42M

The Pacific Palisades Home of the late Michael King recently went on the market for $42 million, a staggering increase from the $11 million the television mogul bought it for in 2002, The Wall Street Journal reports. The home is 15,600 square feet and has seven bedrooms and several outdoor entertaining spaces.

‘Captain America’ BO Continues to Soar

Walt Disney Co.’s “Captain America: Civil War” won the weekend with $72.6 million in domestic box office as its “Jungle Book” crossed the $800 million mark globally, The Hollywood Reporter reports. Finishing second over the weekend was “Money Monster,” which surpassed expectations with earnings of $15 million.

Stocks Rise

The Dow Jones industrial average was up 80 points in early Monday trading to 17,615. The S&P 500 rose 8 points at 2,055. The Nasdaq rose 21 points to 4,739. The LABJ stock index stayed flat at 228. 

Stocks On The Rise

The Dow Jones industrial average was up 80 points in early Monday trading to 17,615. The S&P 500 rose 8 points at 2,055. The Nasdaq rose 21 points to 4,739. The LABJ stock index stayed flat at 228. 

Wealthiest Angelenos: 38, Marc Nathanson

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 40, Nicholas Berggruen

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 40, Ray R. Irani

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 42, Antony Ressler

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 43, John F. Shea

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 44, Gary Winnick

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 45, Jeffrey Gundlach

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 46, Vera Guerin

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 47, Charles Munger

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 48, Aubrey Chernick

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 49, Donald E. Friese

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 49, Shane Smith

Business Journal gives an accounting of L.A.’s biggest fortunes.

Calendar

Calendar of events

Conventions

Upcoming conventions

Condo Developer Finds Opening With Vacant Lot

ACQUISITION: Galvic pays $13.3 million for site on Westwood’s Golden Mile.

A patch of dirt in Westwood has just sold for $13.3 million to North Hollywood’s Galvic Construction on its way to becoming high-end condos.

New Take on Business

Leaders in California must work to remove negative factors that make companies poachable by other states.

Los Angeles needs to improve its appeal to businesses at risk of being drawn to other states, writes Tracy Hernandez.

Court Ruling Makes Case for Press Releases

David Silver has some good words for the power of the press release.

Wealthiest Angelenos: Donations Down in Weird Year

Some of L.A.’s Wealthiest Angelenos have elected to hold their fiscal backing in an usually contentious campaign season.

Biotech Firm’s Diagnosis: IPO

Patrick Soon-Shiong hopes to nurse a bright future for NantHealth despite a tough market for biotech IPOs.

Apple to Drop In Downtown?

REAL ESTATE: Tech giant’s store could be Broadway star.

An Apple store on downtown L.A.’s Broadway could sow the seeds of a retail revival.

Bike Maker Adds Chains For Peddling

Durban expands deals with Target, Dick’s for foldable transport.

Durban Bikes aims to ride new distribution deals to more sales for its foldable products.

Couple Gets In Beds With Pricey Sheets

Husband, wife position U.S. production as plus for Authenticity 50.

Couple behind sheet maker Authenticity 50 says there are real advantages to domestic production.

Lively Up Your Office

Jaime Nack, 40, knows how to stay cool. While she now runs two businesses, consults with Fortune 500 companies, and works with Al Gore’s nonprofit Climate Reality Project, she stays true to an early love: reggae.

A Look Ahead: What’s on the agenda for Los Angeles business in the coming week

TECHNOLOGY: Rocketing aerospace industry gives boost to annual expo.

The latest space blockbuster will not take place in a galaxy far, far away. It’s scheduled for next week in Pasadena.

Making Room

SBE’s Sam Nazarian welcomes Morgans’ boutique hotel trio to hospitality empire

SBE’s Sam Nazarian says he had no reservations about acquiring boutique Morgans Hotel Group.

Activewear Line Fashions Home in Santa Monica

APPAREL: Varley to put down permanent roots in city that inspired label.

Londoners Ben and Lara Mead see Santa Monica as a better fit for the HQ of their SoCal-inspired fashion firm.

Drought Concerns Buoy Pool Removal Business

CONSTRUCTION: Owner of S.K. Choppin doesn’t see work drying up soon.

Drought concerns are helping pool demolisher S.K. Choppin make a big splash with homeowners.

Siblings in Documentary Accuse Director of Plot

FILM: Stahls allege project on family’s famous home led to extortion scheme.

Stahl siblings say a documentary on their father’s famous home opened the door to an extortion scheme.

Report: L.A. Not Connecting With Tech Talent

EMPLOYMENT: Findings disputed by some execs who see growing scene.

Los Angeles is at risk of losing its tech wizards, according to a new study.

Defense Lawyers Say ‘Reptile Theory’ Tips Scales

STRATEGY: Method used by plaintiffs’ attorneys to generate jury sympathy.

Defense lawyers who represent businesses in consumer-facing lawsuits are concerned with a new tactic increasingly used by plaintiffs’ attorneys to appeal to jurors’ emotions.

Los Angeles Cues Up New Concert Partnership

MUSIC: Deal with SMG to give city bigger take of events at Greek Theatre.

It’s all change at the Greek Theatre, with the iconic entertainment venue in Griffith Park under new management and showing off a $4 million facelift.

In-Flight Wi-Fi Provider Aims to Take Wing With Remote Communications

Supplying internet access to airplanes, oil rigs, cruise ships, and other far-flung places is a growing business opportunity, according to Global Eagle Entertainment Inc.

Wealthiest Angelenos: Races Run Up Ads

Competitive contests are expected to fuel record spending levels.

Wealthiest Angelenos: Giving Can Take a Lot of Work

Complicated rules can hamper big donors looking to bankroll candidates.

Wealthiest Angelenos: 4, Sean Parker

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 5, John Tu

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 6, David Geffen

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 7, Sumner Redstone

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 8, Tamara Hughes Gustavson

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 9, Stewart & Lynda Resnick

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 10, Do Won & Jin Sook Chang

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 11, Steven Ferencz Udvar-Hazy

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 12, Edward P. Roski Jr.

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 13, Haim Saban

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 14, William Barron Hilton

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 15, A. Jerrold Perenchio

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 16, Steven Spielberg

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 17, Marion Anderson

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 18, Rick J. Caruso

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 19, Donald & Rochelle Sterling

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 20, Anthony Pritzker

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 21, Tom Gores

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 22, David Murdock

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 23, Michael Milken

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 24, Jeffrey Stuart Skoll

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 25, Don Hankey

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 26, Alec Gores

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 27, Eric Smidt

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 28, Gary Michelson

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 29, Michael Eisner

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 30, Bruce A. Karsh

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealth of Political Opportunity

The wealthiest have choices, but are they voting with their pocketbooks?

Wealthiest Angelenos: 31, George Joseph

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 32, Lowell Milken

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 33, Bradley Wayne Hughes Jr.

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 34, Bobby Murphy

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 34, Evan Spiegel

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 36, Neil Kadisha

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 36, Jeffrey Katzenberg

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 38, Thomas Barrack

Business Journal gives an accounting of L.A.’s biggest fortunes.

Sunday, May 15

More To Say

TV’s Ellen DeGeneres talks up digital media

Ellen DeGeneres isn’t all talk as the daytime TV host branches out to digital media platforms.

Friday, May 13

Snapchat To Snap Up Real Estate in Santa Monica Market

Snapchat, Inc. appears to be in the process filtering into a large spot at the Santa Monica Airport, close to its Venice headquarters.

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Silicon Beach Launch List: May 13

A weekly roundup of L.A. tech company and product launches.

Cross Culture Ventures Closes $10.5 Million Fund

Troy Carter’s Cross Culture Ventures has raised a $10.5 million fund, according to a filing with the Securities and Exchange Commission.

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Wealthiest Angelenos: 3, Eli Broad

Business Journal gives an accounting of L.A.’s biggest fortunes.

Can Youth Demo Be Channeled Back to MTV?

TELEVISION: Former cable mainstay plans revival in era of social media giants.

Once-iconic cable channel MTV hopes a focus on live music can help revive its youthful cachet.

Wealthiest Angelenos: 2, Elon Musk

Business Journal gives an accounting of L.A.’s biggest fortunes.

Wealthiest Angelenos: 1, Patrick Soon-Shiong

Business Journal gives an accounting of L.A.’s biggest fortunes.

Silicon Beach Deal Flow: May 13

A weekly roundup of must-read L.A. tech investments and acquisitions.

PE Roundup: Private Equity Deals And Funds Announced This Week

Beverly Hills private equity firm Gores Group announced Monday it will sell portfolio firm Hay Group, a Bad Sobernheim, Germany-based producer of high-precision forged and machined steel automotive parts, to Toyohashi, Japan manufacturer of automotive components Musashi Seimitsu. Terms of the deal were not disclosed. Westwood investment firm St. Cloud Capital announced Monday it has invested in urgent care clinic manager Stat Health of Long Island, N.Y. Financial terms were not disclosed. Santa Monica investment firm Clearlake Capital Group announced Tuesday it will acquire Irvine software provider Vision Solutions Inc. from San Francisco private equity firm Thoma Bravo. Financial terms of the transaction were not disclosed.

'Money Monster' With George Clooney Seeks Box Office Dollars

A look at the plots of this weekend’s big new movie release from a business perspective.

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Stocks Fall

The Dow Jones industrial average fell 185 points by close of day Friday trading to 17,535. The S&P 500 fell 17 points to 2,047. The Nasdaq fell 20 points to 4,718. The LABJ stock index fell 2 points to 228.

Movers for Week Ending May 13, 2016

Patent asset acquisition company Marathon Patent Group, Inc. in West Los Angeles was the week’s biggest mover, gaining 18 percent to close at $1.94. Puma Biotechnology, Inc. in West Los Angeles was also among the week’s big movers. The biopharmaceutical company’s shares rose 12 percent to close at $26.21. Breitburn Energy Partners of downtown Los Angeles was the week’s biggest loser, dropping 40 percent to close at 19 cents.

Sony Hack Redux?

The $81 million ferreted out of a Bangladesh bank earlier this year appears to have been stolen using the same malicious software that was used to break in Sony Pictures Entertainment in 2014, Reuters reports. Research by security firm BAE suggested the same malware was used in an attack on a Vietnamese banks well.

Gundlach Eyes Fed Fight on Rates

DoubleLine Chief Executive Jeffrey Gundlach said yesterday that the Federal Reserve would face internal pressure to raise interest rates from “hawkish” members this year, Reuters reports.

Legendary Entertainment Sold Again

Legendary Entertainment, purchased by Dailan Wanda for $3.5 billion in January, already has a new owner, Variety reports. Dailan Wanda, a property development business, sold its Wanda Media Group to a separately traded business, Wanda Cinema Line. The deal, which includes other media assets, was valued at more than $5.7 billion.

Need to Be on Time? Train Better Than a Bus

An analysis of Metro data by KPCC shows, perhaps unsurprisingly, that buses in Los Angeles have a hard time staying on schedule. The good news for rail riders is that Metro has been able to keep the trains on time.

SpaceX Rockets Ahead of Boeing

Space Exploration Technologies (SpaceX) took the lead in the race to become the first private firm to put a person in space. CNN Money reports that Boeing Co. pushed its planned mission back to 2018, leaving Elon Musk’s Hawthorne-based business alone with launch plans for next year.

Stocks mixed

The Dow Jones industrial average fell 33 points in early Friday trading to 17,687. The S&P 500 fell 2 points to 2,062. The Nasdaq rose 3 points to 4,740. The LABJ stock index stayed flat at 230.

Thursday, May 12

Activision to Broadcast E-sports on Facebook Live

As part of its bid to become the ESPN of e-sports, Activision Blizzard Inc. announced Thursday that it would broadcast e-sports tournaments on Facebook Live.

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CIT Bank Reinvestment Plan Gets Approval, Criticism

Pasadena-based CIT Bank has finally won approval of its new community reinvestment plan from federal regulators, a condition of the consent of its merger with OneWest Bank last summer.

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Stocks mixed

The Dow Jones industrial average rose 9 points on Thursday to close at 17,720. The S&P 500 stayed flat at 2,064. The Nasdaq fell 23 points to 4,737. The LABJ stock index stayed the same at 230 points.

Shipping Lines to Form Vessel-Sharing Alliance

The Wall Street Journal reports that a group of large Asian and European cargo shippers will announce an alliance Friday. The pact, which will allow the companies to share space on vessels, includes Hanjin Shipping Co. and Hapag-Lloyd and comes amid a 30 percent oversupply of ships, which has put downward pressure on pricing.

Oracle Founder Backs USC Cancer Research Center

In another fundraising coup for USC, Oracle founder Larry Ellison, one of the richest people in the world, announced he would donate $200 million to the university for the creation of a cancer research center. The Lawrence J. Ellison Institute for Transformative Medicine of USC will be built in West Los Angeles, away from the school’s main campus, the Los Angeles Times reports.

Colony Capital’s Barrack to Host Trump Fundraiser

The Washington Post reports that billionaire presidential candidate Donald Trump will kick off his general election fundraising effort at the Los Angeles home of Colony Capital founder Thomas Barrack Jr. on May 25. The two have done business together in the past.

AwesomenessTV Strikes Deal With MLB

AwesomenessTV, the youth-oriented streaming business owned by DreamWorks Animation, announced a series of partnerships at the Digital Content NewFronts event for advertisers in New York, Variety reports. New programming includes a scripted series for Major League Baseball and plans for a live videogame awards show from DreamWorksTV.

Sacca Spending More Time With Sharks

Los Angeles tech investor Chris Sacca will step up his commitment to ABC’s “Shark Tank,” CNN Money reports. Sacca, an early investor in Twitter and Uber, will appear in at least four episodes of the show, which will be taping its eighth season.

Stocks Rise

The Dow Jones industrial average rose 56 points in early Thursday trading to 17,767. The S&P 500 rose 6 points to 2,070. The Nasdaq rose 6 points to 4,766. The LABJ stock index stayed flat at 230.

Wednesday, May 11

Univision Launches New Unit Making Multicultural Projects, Signs HBO Deal

Univision Communications Inc. has launched a new Los Angeles unit to create multi-cultural projects. Story House will develop and produce content in both English and Spanish for various Univision channels and other networks.

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Hyperloop Technologies Raises $80 Million, Runs First Test in Las Vegas

Hyperloop Technologies Inc. has closed an $80 million Series B funding round and secured development partnerships with several large engineering firms.

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Stocks Fall

The Dow Jones industrial average fell 217 points on Wednesday to close at 17,711. The S&P 500 fell 20 points to 2,064. The Nasdaq fell 49 points to 4,761. The LABJ stock index fell 5 points to 230.

WME/IMG Said To Be Bidding for UFC

ESPN reports that talent management agency WME/IMG has put together a team that includes China Media Capital and Dalian Wanda Group to pay as much as $4 billion for UFC. The league’s ownership group, Zuffa, paid $2 billion for the business in 2001 and has denied it is for sale.

Disney Earnings Disappoint, Video Game Unit Shuttered

Strength at the global box office and at its theme parks were not enough to offset weakness at Walt Disney Co.’s television arm, resulting in a mixed earnings report that fell short of analysts’ expectations, The New York Times reports. Though revenue and profit both rose, the increases were lower than expected and came as the Burbank company said it would shut its Infinity video game and toy line.

End of the Line: TMZ/Starline Spat Lands in Court

A legal spat between celebrity gossip business TMZ and Starline Tours has resulted in an abrupt end to their partnership, the Los Angeles Times reports. TMZ says Starline is withholding money from its share of the revenue generated by celebrity tours the companies have been operating for the last few years.

Hyperloop Firm Lands $80M, Test Due Today

Los Angeles’ Hyperloop Technologies said yesterday it was closing an $80 million funding round and changing its name to Hyperloop One in advance of a public test today of its transportation technology. The name change, meant to distinguish it from competitor Hyperloop Transportation Technologies, also of Los Angeles, comes as the business said it has more than 150 at its L.A. headquarters and Nevada test facility, CNN Money reports.

Valley Plant Closing, Jobs Headed to Mexico

Clover Imaging Group, an Illinois-based printer cartridge manufacturer, said it was closing its Van Nuys plant and moving the operation to Mexico. The closure will result in the loss of more than 200 jobs, the Los Angeles Daily News reports. The company notified the state that the layoffs would happen on June 26.

Stocks Fall

The Dow Jones industrial average fell 95 points in early Wednesday trading to 17,833. The S&P 500 fell 8 points to 2,076. The Nasdaq fell 12 points to 4,798. The LABJ stock index fell 4 points to 231.

Tuesday, May 10

Walt Disney CEO Robert Iger Won't Extend Contract After 2018

Walt Disney Co.’s Chief Executive and Chairman Robert Iger does not “currently plan” to extend his contract after June 2018, he told investors today.

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Global Eagle Buys Satellite Communications Firm for $550M

Global Eagle Entertainment Inc., an in-flight Wi-Fi and entertainment provider, announced Monday it had reached an agreement to acquire satellite communications firm Emerging Markets Communications for $550 million in cash and stock.

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Public Storage Defeats Shareholder Class Action Seeking $41 Million

Public Storage and its founder B. Wayne Hughes have finally beaten back a securities class action after nearly five years of litigation.

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Online Consignment Shop Tradesy Raises $30 Million

Online consignment shop Tradesy of Santa Monica announced on Monday it received a $30 million Series C round.

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Apple Nabs Retail Space in Downtown Los Angeles

Apple Inc. is in the in the process of securing a lease for retail space at the historic Tower Theater downtown, according to sources familiar with the transaction. When complete, the lease for an Apple store at the building, at 800 S. Broadway, could spark dramatic changes along a corridor that has long been in flux.

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Stocks Up

The Dow Jones industrial average rose 222 points on Tuesday to close at 17,928. The S&P 500 rose 26 points to 2,084. The Nasdaq rose 60 points to 4,810. The LABJ stock index rose one point to 235.

SBE Buying Morgans Hotel Group

Hotel and nightclub mogul Sam Nazarian is buying a boutique hotel group in a deal that will give billionaire investor Ron Burkle a significant stake in the new company. Nazarian’s SBE Entertainment Group, based in Mid-Wilshire, is picking up New York-based Morgans Hotel Group for nearly $80 million, which amounts to $2.25 per share. After the takeover, SBE would be worth about $800 million.

El Segundo Offices Flipped for $325 Million

Apollo at Rosecrans, a four-building, 550,000-square-foot El Segundo office campus, has been sold for an estimated $325 million, the Los Angeles Times reports. Invesco Real Estate and SSV Properties, which acquired the former Raytheon Co. site in 2013 and renovated the properties, sold to Intercontinental Real Estate Corp.

Tribune Publishing Moves to Fend Off Gannett

Directors of Tribune Publishing, owner of the Los Angeles Times, adopted a shareholder rights plan to fend off an unwanted acquisition offer from Gannett Co. The “poison pill” measure, in response to an offer the board deemed too low, would dilute holdings of any person or entity that acquired 20 percent or more of TPC common stock, Associated Press reports.

Nazarian Hotel Empire Expands

Sam Nazarian’s SBE has agreed to buy Morgans Hotel Group in a deal valued at $794 million. The deal will give billionaire Rob Burkle, whose Yucaipa Cos. has a stake in Morgans, equity in SBE, Bloomberg reports. Also taking an equity position in the Los Angeles hotel operator is Cain Hoy Enterprises. Nazarian is said to retain a majority interest.

Trump’s Finance Chairman’s Deep L.A. Ties

Donald J. Trump’s pick for national finance chairman, Steven Mnuchin, has left some scratching their heads, The New York Times reports. The former Goldman Sachs banker was chairman of Pasadena’s OneWest bank, overseeing its sale to CIT Group last year. He was also co-chairman of Relativity Media, departing before it went bankrupt.

Could Netflix Derail Relativity Comeback Plan?

A Netflix plan to stream a pair of films produced by Relativity Media could potentially undermining Relativity’s return from bankruptcy, The Wall Street Journal reports. That’s because Netflix would push the films out before their theatrical release, which Relativity says would diminish box office receipts and put the studio in jeopardy.

SAG-Aftra Ratifies Commercials Contract

Members of the actors’ union agreed to a three-year deal, retroactive to March 31, Variety reports. SAG-Aftra leadership says the deal will include “more than $200 million” in pay hikes.

Stocks Rise

The Dow Jones industrial average rose 155 points in early Tuesday trading to 17,860. The S&P 500 rose 14 points to 2,072. The Nasdaq rose 18 points to 4,768. The LABJ stock index stayed flat at 234.

Monday, May 9

SBE Buying Morgans Hotel Group

Hotel and nightclub mogul Sam Nazarian is buying a boutique hotel group in a deal that will give billionaire investor Ron Burkle a significant stake in the new company.

Latin Everywhere Sells Stake to Revolution Studios

Revolution Studios of Santa Monica has acquired a stake in Latino digital-content network Latin Everywhere. Terms of the deal were not disclosed, but Latin Everywhere said the deal was worth seven figures.

L.A. Tech Calendar: May 9 - 23

Roundup of L.A. tech events in the next two weeks.

Soon-Shiong’s NantHealth Files IPO

Billionaire Patrick Soon-Shiong’s health care IT firm NantHealth has announced that it filed for a $92 million initial public offering late Friday.

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Redstone Competency Case Dismissed; New Suit Filed Against Daughter

A Los Angeles judge has dismissed the lawsuit challenging the mental competency of Viacom and CBS Corp. controlling shareholder Sumner Redstone filed by his former live-in girlfriend.

Stocks Mostly Rise

The Dow Jones industrial average fell 35 points in Monday trading to 17,705. The S&P 500 rose 2 points to 2,059. The Nasdaq rose 14 points to 4,750. The LABJ stock index rose one point to 234.

Torrance Refinery Expected to Restart Today

Operational delays will push the reopening of the Exxon Mobil refinery in Torrance back until Monday night, the Los Angeles Times reports. The facility, damaged in an explosion in February 2015, will be allowed to operate without pollution control measures for six hours as part of the restart.

Disney Knocks Off Disney for Top BO Spot…

Walt Disney Co.’s “Captain America: Civil War,” the 13th film from its Marvel comic book franchise, displaced Disney’s “The Jungle Book” as the top-grossing movie this weekend, posting $182 million at the domestic box office, the Associated Press reports. The film looks to be on track to hit $1 billion in global receipts.

… Complicating Succession?

The Wall Street Journal reports that finding a replacement for Chief Executive Bob Iger, scheduled to depart in 2018, could be complicated by Friday’s departure of COO Tom Scaggs, as an outside choice might come with some hefty demands.

Warner Music’s Streaming Revenue Skyrockets

Warner Music Group generated $2 million a day in revenue from music streaming services, Business Insider reports. The rise in streaming revenue, which comes with little expenditure on overhead, made Warner the first music distributor to generate more revenue from streaming than from downloads or physical sales.

Herzer Legal Team Scrambles in Redstone Case

Attorneys for Sumner Redstone’s former girlfriend, alleging the media mogul was “brainwashed” in response to his testimony at a trial to assess his mental competence, filed a motion urging a Los Angeles judge not to dismiss her case on Sunday, The New York Times reports.

ICYMI: Oaktree Pressures Tribune Publishing

Oaktree Capital Management, the Los Angeles investment firm that is the second-largest shareholder in Los Angeles Times parent Tribune Publishing, late on Friday urged the board to consider the buyout offer from Gannett Co., the Times reports.

Stocks Mixed

The Dow Jones industrial average was down 44 points in early Monday trading to 17,698. The S&P 500 rose 1 points at 2,058. The Nasdaq rose 17 points to 4,753. The LABJ stock index stayed flat at 233.

Owning the Place

Fight to put location data firm Factual on map has included $1 million battle with patent troll

Gil Elbaz maps out his plan for data location firm Factual.

A Look Ahead: What’s on the agenda for Los Angeles business in the coming week

TRANSPORTATION: Expo Line opening; property values rise along route.

Boxed In

REAL ESTATE: Pre-built homes struggle to settle in as scale eludes.

Developers looking at pre-fab homes as less expensive options may be late to the game.

Hanjin’s Troubles at Home Making Waves in L.A.

SHIPPING: Concern grows at port; air, real estate appear solid.

Trouble at Korean conglomerate Hanjin, whose holdings include shipping, an airline, and real estate, has a ripple effect in Los Angeles.

Denim Vets Button Up New Look

APPAREL: Former Guess trio sees future in retro inspiration.

Two of the Marciano brothers from Guess look to try on a new vintage style with GM Studio.

Lender Gives Youths Credit

Paul Bayen sees millennials as a good risk for his credit history-launching mobile app.

Judy Garland Tour Seen As Image Raiser

Late entertainer’s son, hologram company made plan take shape.

Late entertainer’s son, hologram company made plan take shape.

Gown Maker Adds Line To Fashion Fold

D.N.A.M. deal latest wrinkle for celebrity designer Sue Wong.

Gown maker to the stars Sue Wong has sewn up a deal to extend the distribution of her designs.

Speech Not Trumped

Republican communications strategist and consultant Richard Grenell had an unenviable task at the recent state GOP convention in Burlingame: speaking immediately after Donald Trump.

Los Angeles Well-Positioned for China Relations

Peter Shiao believes Los Angeles is in a good place when it comes to building a China relationship.

Fast Lane to Future

Angelenos have local advantage of dense population helping propel region into developing industries.

Michael H. Kelly and Kevin Klowden see L.A.’s dense population as an advantage in pioneering new industries.

City on the Hill

The Berggruen Institute’s effort to put Los Angeles on the intellectual map.

Bid for Silicon Beach Overflow Spurs Office Sale

INVESTMENT: Culver City office complex trades for $65 million; rehab planned.

Can’t get your business into Playa Vista or Santa Monica? Tim Lee is hoping you’ll turn to Culver City instead.

Conventions

Upcoming conventions

Calendar

Calendar of events

Finance Firm Gets Line On Internet Company at Discounted Price

Six months after being spurned, B. Riley Financial Inc. finally got a “yes” from acquisition target United Online Inc. – even after knocking $15 million off the asking price.

China Proves Hot Market for Solar Power Firm

ENERGY: SolarReserve’s plants turn up heat with potential $4.5 billion deal.

China is hungry for power – of the solar variety.

Bank Goes With South Bay for L.A. Beachhead

EXPANSION: Livingstone Partners likes image from Manhattan Beach outpost.

Though the majority of L.A.’s investment banks are in downtown Los Angeles or on the Westside, Livingstone Partners has set up shop by the surf in the South Bay.

Hotel’s Dining Permit Drama Tough To Swallow

DINING: L’Ermitage owners forced to digest stalled restaurant opening.

Dealing with a city bureaucracy is rarely easy for any business, but the ordeal of the owners of the Viceroy L’Ermitage Hotel in Beverly Hills in recent weeks really stands out.

Exercise Chain Execs Weigh In on Dry Cleaning

LAUNDRY: Franchisees look to wash away rivals with $1.99 price point.

Franchisees of local Planet Fitness locations hope to muscle in to dry cleaning at a $1.99 price point.

Brand’s Revival Apparent To Furniture Firm’s Heir

RETAIL: Loren Kreiss moves to resurrect family business after bankruptcy.

Back from bankruptcy, old-time Los Angeles furniture brand Kreiss seeks to retake its seat at the table.

Salad Maker May Be Ready to Bowl Over Buyer

FOOD: Sales of Ready Pac could produce deal for equity firm parent H.I.G.

Salad maker Ready Pac might be ready to mix it up with a buyer.

Will he stay or will he go?

Is Jeffrey Katzenberg going to settle into his role as chairman of Comcast Corp.’s newly created DreamWorks New Media arm or will he seek more autonomy?

Should he stay or should he go? The pros and cons of Jeffrey Katzenberg staying with DreamWorks under NBCUniversal.

Care Provider’s Stock Falls On Poor Prognosis

Investors give shares of Molina a poor diagnosis after the managed care provider’s anemic first quarter.

House-Call Business Knocked by Some Doctors

HEALTH CARE: Heal says home visits on rise; firm’s cost, treatment questioned.

Heal says its home-visit service is booming, but some doctors offer a second opinion on the business.

Friday, May 6

PE Roundup: Private Equity Deals and Funds Announced This Week

Private equity firms Platinum Equity of Beverly Hills and Clearlake Capital Group of Santa Monica announced Monday that funds managed by affiliates of Apollo Global Management will acquire Clearlake portfolio company AmQuip Crane Rental and Platinum portfolio company Maxim Crane Works.

Silicon Beach Deal Flow: May 6

A weekly roundup of must-read L.A. tech investments and acquisitions.

Silicon Beach Launch List: May 6

A weekly roundup of L.A. tech company and product launches.

Redstone ‘Severely Impaired,’ Says Physician

Media tycoon Sumner Redstone is suffering from dementia, according to an expert witness physician who testified today in Los Angeles Superior Court.

LAFC Soccer Stadium Approved

The Los Angeles City Council on Friday gave final approval for construction of a $250 million stadium complex near USC for the Los Angeles Football Club soccer team.

What to Watch This Weekend

A look at the plots of this weekend’s new movie releases from a business perspective.

J2 Global Beats Quarterly Expectations

Internet services and media company J2 Global Inc. posted first quarter earnings per share of 61 cents a share, beating analysts’ expectations of 53 cents a share. The per-share mark was 36 percent higher than the year-ago period and came on revenue of $201 million for the quarter ended March 31.

Tutor Perini, Big 5 Sporting Goods Among Week's Biggest Movers

The Los Angeles Business Journal’s index of the largest local public companies rose for the week. The weighted LABJ index rose more than 1 percent to close at 232, with losers outpacing gainers 81 to 60. Ten companies closed the week unchanged.

Stocks Rise

The Dow Jones industrial average rose 80 points in Friday trading to close at 17,740. The S&P 500 rose 6 points at 2,057. The Nasdaq rose 19 points to 4,736. The LABJ stock index rose 2 points to 233.

READER POLL: Do you think people should tear out their pools as a drought-control measure?

READER POLL: Do you think people should tear out their pools as a drought-control measure?

SpaceX Nails Another Landing

SpaceX once again successfully landed a first-stage rocket booster on a drone ship in the Atlantic Ocean, according to the Los Angeles Times. The Hawthorne company also sent a commercial communications satellite into orbit.

Redstone Trial Begins Today

Sumner Redstone’s mental competency trial will begin Friday in a downtown Los Angeles courtroom. According to Fox Business, the judge will view a video of the 92-year-old Redstone being questioned by attorneys before releasing a transcript.

Herbalife Could Pay Trade Regulators $200 Million

Talks between Herbalife and the Federal Trade Commission have reached an advanced stage, according to the Los Angeles Times. The nutritional supplement maker could pay up to $200 million to settle a two-year dispute over its business practices.

Assembly Votes Against Aliso Canyon Relief Bill

A bill that would have expanded Porter Ranch residents’ ability to seek legal relief in connection to the natural gas leak did not pass the California Assembly. According to the Sacramento Bee, the bill failed on a 27-31 vote.

Stocks Mixed

The Dow Jones industrial average fell 10 points in Friday trading to 17,691. The S&P 500 fell 2 points to 2,049. The Nasdaq fell 6 points to 4,711. The LABJ Stock Index rose 2 points to 233.

Thursday, May 5

DreamWorks Animation Posts Solid Earnings Before Acquisition

DreamWorks Animation SKG Inc. posted strong first quarter financial results as it prepares for its acquisition.

Activision’s Quarterly Revenue Beats Estimates

Activision Blizzard Inc.’s non-adjusted revenue grew by 29 percent in the quarter ended March 31 to $908 million.

Stocks Mixed

The Dow Jones industrial average rose 9 points in Thursday trading to close at 17,661. The S&P 500 stayed flat at 2,051. The Nasdaq fell 8 points to 4,717. The LABJ stock index rose 2 points to 231.

Musk Sleeping in Factory

Los Angeles billionaire Elon Musk is spending nights in a sleeping bag on the Tesla factory floor, reports CNN Money. Musk told investors he was doing it to keep a close eye on the electric cars coming off the production line as Tesla looks to speed up output in a bid to finally become profitable. His comments followed Tesla Motors Inc. reporting big first quarter losses but a jump in sales.

American Apparel Turns to Crowd Sourcing

American Apparel is launching a crowdsourcing campaign to find ideas for new products, reports the Los Angeles Times. The beleaguered downtown clothier, which recently said it might outsource some manufacturing, is asking vendors to submit suggestions via a 90-second video for U.S, made goods that would retail for $100.

Animated Assurance

DreamWorks Animation staff have been offered reassurances by Comcast leaders Brian Roberts and Steve Burke that they plan to keep making movies at DreamWorks’ Glendale headquarters. Variety reports that the duo made the promise in a meeting with over 1,000 workers there, days after Comcast announced it was buying the animation company for $3.8 billion.

Vaping Ban

California Gov. Jerry Brown on Wednesday signed legislation to prohibit electronic cigarette use in restaurants, theaters, schools, and other public places where smoking is already banned, reports the Los Angeles Times. Vaping businesses said the new law – which takes effect June 9 – will have a negative effect on them.

Target Resurrected

Los Angeles City Council voted unanimously Wednesday to allow construction to resume on a long-stalled Target shopping center in Hollywood, nearly two years after a judge ordered work at the site halted. According to the Los Angeles Times, a neighborhood protest group said it would sue once again to stop the project.

Trumps Cheats at Golf Claims Golden Boy

Oscar De La Hoya says Donald Trump “outright cheated” when they played golf together, according to the Washington Post. The Los Angeles boxing legend turned promoter said Trump repeatedly cheated when they played a round two years ago.

Stocks Fall

The Dow Jones industrial average fell 100 points in Thursday trading to 17,651. The S&P 500 fell 12 points to 2,051. The Nasdaq fell 38 points to 4,725. The LABJ Stock Index fell slightly to 229.

Wednesday, May 4

Tribune Turns Down Gannett Offer

Tribune Publishing Co.’s board has unanimously rejected a takeover from rival publisher Gannett Co. Inc., saying its bid of $815 million undervalues the company, which owns the Los Angeles Times.

Live Nation Inks Virtual Reality Deal

Beverly Hills-based Live Nation Worldwide Inc., the largest concert promoter in the world, has struck a deal with Laguna Beach virtual reality content maker NextVR Inc. to bring hundreds of live concerts to fans across the globe in VR.

Skydance Media Buys Video Game Firm Workshop Entertainment

Santa Monica production company Skydance Media has acquired Workshop Entertainment Inc., a video game developer based in Marina del Rey, for an undisclosed amount.

Stocks Fall

The Dow Jones industrial average fell 100 points in Wednesday trading to close at 17,651. The S&P 500 fell 12 points to 2,051. The Nasdaq fell 38 points to 4,725. The LABJ stock index fell one point to 229.

Tinder’s Paid Subscribers Top 1 Million

More than 1 million Tinder users pay for the app’s premium features each month – up from an average of 332,000 in the first nine months of last year, parent company Match Group announced Tuesday.

SolarReserve Signs Deal for Solar Plants in China

Santa Monica’s SolarReserve has signed a memorandum of understanding with Shenhua Group Corp. of Beijing to build solar thermal plants in China that generate up 1,000 megawatts of power. The deal is reportedly worth $2.31 billion.

Cost of Aliso Canyon Leak Hits $665 Million

Sempra Energy, parent of Southern California Gas Co., said the four-month gas leak at Aliso Canyon would cost twice as much as projected, having a material impact on its quarterly earnings, Bloomberg reports.

Supreme Court Rejects Pom Wonderful Case

The Supreme Court has declined to review an appeals court decision that found health claims in Pom Wonderful advertisements misled consumers. The West Los Angeles company owned by Lynda and Stewart Resnick claimed its pomegranate juice could help “cheat death,” according to the Los Angeles Times. The decision ends a six-year legal battle.

ESPN and Vice Media Join Forces

ESPN has a new ally. The Los Angeles Times reports the Walt Disney Co.-owned sports network has joined forces with Vice Media in a deal that would provide each with access to the other’s programming. Disney has a 10 percent stake in Vice.

Burbank Airport Says ‘Thanks for the Memory’

The Burbank-Pasadena-Glendale Airport Authority is saying “so long” to the Bob Hope Airport nickname it has carried since 2003. The transit hub will now be known as the Hollywood Burbank Airport, CBS Los Angeles reports, in a move to drum up business.

Stocks Down

The Dow Jones industrial average fell 61 points in Wednesday trading to 17,691. The S&P 500 fell 7 points to 2,057. The Nasdaq fell 13 points to 4,750. The LABJ Stock Index fell slightly to 230.

Tuesday, May 3

Local Businesses Reluctant to Hire More Workers Despite Overall Optimism

L.A. County employers are optimistic about their business outlook this year but guarded about future hiring, according to a new Los Angeles County Business Federation survey released Tuesday.

GrubHub Swallows LAbite

Online food delivery company LAbite is set to be acquired by GrubHub Inc. The terms of the acquisition were not disclosed.

Stocks Fall

The Dow Jones industrial average fell 140 points in Tuesday trading to close at 17,751. The S&P 500 fell 18 points to 2,063. The Nasdaq fell 42 points to 4,763. The LABJ stock index fell two points to 230.

Will.i.am’s Smartwatch Startup Acquires Israeli Firm

Smartwatch manufacturer i.am+, founded and backed by hip-hop musician will.i.am, has acquired Israeli machine learning company Sensiya. Terms of the acquisition were not disclosed.

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Los Angeles County Sees More Tourists

The number of tourists in California and Los Angeles County was up last year. The Los Angeles Times reports that a just-released accounting shows a record 45.6 million travelers visited Los Angeles County, an increase of 3.2 percent from 2014, although weaker foreign currencies diminished their spending.

Redstone Ordered to Testify

Sumner Redstone must give brief testimony in the trial over his mental competency. According to KPCC, a judge ruled Monday that the testimony could be given in the home of the ailing controlling shareholder of CBS Corp. and Viacom Inc. It would be videotaped, to avoid a public spectacle.

Bill to Keep Aliso Canyon Shut Advances

A bill to extend the closure of Sothern California Gas Co.’s Aliso Canyon gas storage facility was sent to the governor after it passed the state Senate on a 36-0 vote. The Associated Press reports the bill extends Gov. Jerry Brown’s moratorium on injecting gas into the site until regulators complete a review and decide whether the facility may reopen.

Lions Gate Remakes Go Global

“Hunger Games” with an all-Chinese cast? It could happen. The film’s distributor, Lions Gate Entertainment, is spearheading a venture to remake films abroad. According to The Wall Street Journal, the studio and nine distributors have agreed to give each other right of first refusal to remake each others’ movies in their respective countries.

Stocks Down

The Dow Jones industrial average fell 159 points in Tuesday trading to 17,732. The S&P 500 fell 20 points to 2,061. The Nasdaq fell 51 points to 4,766. The LABJ Stock Index down 2 points to 230.

Monday, May 2

National Bank of California Completes Merger With Irvine Lender

Brentwood’s National Bank of California has completed its merger with Irvine's Commercial Bank of California.

Stocks Rise

The Dow Jones industrial average rose 118 points in Monday trading to close at 17,891. The S&P 500 rose 16 points to 2,081. The Nasdaq rose 42 points to 4,817. The LABJ stock index rose two points to 232.

READER POLL: Will the impending acquisition of DreamWorks Animation by Comcast’s NBCUniversal be good or bad for the Glendale company?

READER POLL: Will the impending acquisition of DreamWorks Animation by Comcast’s NBCUniversal be good or bad for the Glendale company?

L.A. Tech Calendar: May 2 - 15

Roundup of L.A. tech events in the next two weeks.

Snapchat Rolls Out E-commerce Ads

Snapchat has begun testing e-commerce ads as part of its effort to diversify revenue streams.

Ticket Vendor Expands View

INTERNET: Fandango grows stake in moviegoing process.

Online ticket vendor Fandango has picked up businesses to recast itself in a bigger role in the moviegoing experience.

Hulu Developing Subscription Service

Hulu is set to launch an online service to stream broadcast and cable TV channels. Walt Disney Co. and 21st Century Fox, both with ownership stakes in Hulu, are negotiation to provide programming, The Wall Street Journal reports. The service would increase competition with premium TV providers and other digital entrants.

Gannett Puts Pressure on Tribune

Gannett Co. Inc. has ratcheted up pressure on Tribune Publishing Co. to accept its buyout offer. The publisher of USA Today said it would urge shareholders of Tribune to withhold their votes for eight board nominees at the June 2 shareholder meeting, Bloomberg reports.

Redstone Trial Set to Begin

The trial over Sumner Redstone’s mental competence finally heads to court this Friday. An appearance by the 92-year-old controlling shareholder of Viacom Inc. and CBS Corp., however, is highly unlikely, The Wall Street Journal reports.

‘Jungle Book’ Leads Box Office

Disney’s “The Jungle Book” stayed atop the box office for the third straight week. According to the Los Angeles Times, the movie garnered an estimated $42.4 million in the U.S. and Canada over the weekend, bringing its total revenue to $252 million domestically and $684 million worldwide.

Bitcoin Creator Unveiled?

An Australian man has come forward and claimed to be “Satoshi Nakamoto,” creator of cryptocurrency Bitcoin. Craig Wright, whose name surfaced in reports last year as the programmer who developed Bitcoin, said he went public reluctantly, The New York Times reports. A Los Angeles County man, Dorian Satoshi Nakamoto, was incorrectly identified as the creator in 2014.

Stocks Mixed

The Dow Jones industrial average was up 30 points in trading Monday to 17,084. The S&P 500 was up 4 points to 2,069. The Nasdaq was down 4 points to 4,771. The LABJ Stock Index was up slightly to 230.

Movie Nights Focus in on Cost Control

Operators of outdoor screenings see rise in audiences, expenses.

Cost control now plays a lead role for operators of outdoor screenings as their movie nights reel in crowds.

Payout Pause

Insurer delays can prove costly for businesses

Some businesses face a run-up in costs from carrier-caused delays during the handling of claims.

Partners Aim to Clean Up With Toxic Properties

DEVELOPMENT: Duo bets on sites despite risky ground game.

Matthew Winefield and Reid Breitman pursue healthy returns by cleaning up toxic properties.

Tenants Move In Quickly on El Segundo Project

DEVELOPMENT: Office building benefits from nearby crowded markets.

With a year to go until dramatic renovations are complete on an El Segundo office building, the space is already half-leased.

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MBAs Mean Good Money

FINANCE: Dwindling talent pool drives up compensation.

Local firms are investing more effort in securing hires from a shrinking pool of talent.

A Look Ahead: What’s on the agenda for Los Angeles business in the coming week

CONFERENCE: Impact of economic policy takes stage at Milken Institute event.

Beverly Hills boasts its fair share of celebrities, and their ranks will swell this week as politicians, Nobel laureates, and high-profile business execs flood the Beverly Hilton hotel for the Milken Institute’s annual Global Conference.

Will Tesla Charge Up California?

Eric C. Pritz wonders if the new Model 3 will be enough to drive Tesla’s success and power up California.

Making Policy Connections

Outfitting unserved communities with broadband internet could prove key move in California prosperity.

James Prieger sees a lack of broadband connectivity in some communities as a missing link in California’s economy.

Fun While It Lasted

With its pending acquisition of DreamWorks Animation, Comcast is poised for a direct challenge to Disney.

Conventions

Upcoming conventions

Calendar

Calendar of events

Team of Lawyers Took Lead Role in Directing Studio Bankruptcy Case

It was only the beginning when a deal to pull Ryan Kavanaugh’s Relativity Media out of bankruptcy was approved by a federal judge.

Lawyer Who Watched Lawyers Leaves State Bar

EMPLOYMENT: Jayne Kim quits as chief trial counsel after recent re-election.

After a controversial five-year tenure, the lawyer in charge of investigating and prosecuting attorney misconduct is stepping down, the California State Bar announced.

Chocolatiers Look to Raise Bars at New Factory

FOOD: Mast Brothers to provide tours to visitors sweet on confectionery.

A pair of Willie Wonkas has made its way to the Arts District.

Producer Opted Not to Follow Developer Father

TV: Trey Roski, son of Ed, hopes for smash hits with new season of ‘Battlebots.’

Trey Roski, son of billionaire developer Ed Roski Jr., is focused on building a television hit rather than following his father into real estate.

Studios Ratchet Up Heat With Big Summer Slates

FILM: Disney fish may end up tipping season’s scale as superheroes go to battle.

The major studios are feeling the heat as the summer blockbuster season arrives to decide if movies sizzle or fizzle.

Los Angeles a Top Site for Down Under Fashion

APPAREL: Beach lifestyle draws Australian brands looking to shore up sales.

Some Australian labels say a similar coastal culture makes Los Angeles a good beachhead for cracking the U.S. market.

Hospitals Split Over Getting ‘D’ in Patient Safety

LABOR: One values input from survey; the other questions methodology.

Watchdog group gives two L.A. hospitals a “D” in patient safety but institutions differ in response.

China’s Ailing Economy Tests Junkyards’ Mettle

SALVAGE: Operators shut facilities, ax employees as price for scrap tumbles.

China’s declining economy has forced some local junkyards to scrap their business plans and scale back.

Angling for Movie Credits

Fraser Heston, chief executive of Agamemnon Films, has long enjoyed rock climbing, mountaineering, sailing, and scuba diving. But the more leisurely pursuit of fly fishing is his true love.

Emojis Take Shape in App For Realtors

Association pitches symbols as positive signs for real estate.

Realty association hopes to get industry in good shapes with new line of emojis.