Stories for October 2016

Monday, October 31

Beverly Hills Outlines Lucrative Development Deal With Wanda Group

Chinese developer Wanda Group is poised to pay mega-bucks to the City of Beverly Hills in an unprecedented development deal for the construction of its elite condo-hotel project, One Beverly Hills.

Silicon Beach Report Oct. 31: Facebook Tried to Buy Snow, Another Snapchat Copy

Facebook tried to buy Snapchat-copy Snow, Demand Media to change its name to Leaf Group, and Fisker Inc. unveils new car design.

Demand Media to Change Its Name to Leaf Group

Demand Media is turning over a new leaf. The media and e-commerce holding company announced on Friday that it will change its name to Leaf Group, effective Nov. 9. Demand Media purchased Leaf.tv last year, which is a women’s lifestyle video content creator.

Trump’s L.A. Golf Course Still Carrying Handicap

REAL ESTATE: Property value may lie in residences.

Donald Trump is still looking for the green from his 2002 acquisition of an L.A. golf course.

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Friday, October 28

Movers for Week Ending October 28, 2016

Glendale-based Apollo Medical Holdings Inc. was the week’s biggest gainer jumping 13 percent to finish at $4.25. Soda maker Reed’s Inc. was also among the week's biggest gainers. The downtown based company was up 9.6 percent to $4.55 a share. The week’s biggest loser was Commerce-based furniture maker Nova Lifestyle Inc. whose stocked dipped 14.4 percent to $3.68.

Increased State Film and TV Tax Credits Appear to Pay Off

The results are in from the first full year of California’s latest film and television tax credit program, established to stem the flow of filming outside of the state, and they appear to show a good return on investment.

Ryan Kavanaugh’s Relativity Media To Be Sold

Seven months after Ryan Kavanaugh’s Relativity Media exited bankruptcy, the Hollywood mogul and his partners are reportedly selling the studio for up to $250 million.

Hair Loss Lawsuit Over Chaz Dean Products Receives Preliminary Settlement Approval

A federal judge in Los Angeles Friday gave his preliminary stamp of approval to a $26.3 million settlement in a class action row featuring celebrity stylist Chaz Dean’s haircare products.

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Silicon Beach Report Oct. 28: Six Senior Execs Leave Faraday Future

Six senior executives leave Faraday Future, Soylent recalls powder after people get sick, and GM’s Maven expands car-sharing network to Los Angeles.

Insurance Commissioner Urges Carriers to Cut Workers Comp Premiums 14 Percent

California Insurance Commissioner Dave Jones is urging insurance carriers in the state to cut the workers compensation premiums they charge employers by 14 percent.

Hair Loss Lawsuit Over Chaz Dean Products Receives Preliminary Settlement Approval

A federal judge in Los Angeles Friday gave his preliminary stamp of approval to a $26.3 million settlement in a class action row featuring celebrity stylist Chaz Dean’s haircare products.

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Cook Takes To Road With Digital Plan

Sunrise Tortillas maps out food truck strategy using online orders.

Sunrise Tortillas’ Emmy Tellez looks to rev up business for her truck through online ordering.

Furniture Supplier Takes Stand for Reused Chairs

RETAIL: Herman Miller’s pricey lines repositioned by Beverly Hills Chairs.

Furniture supplier has taken a positive stand on acquiring and reselling used high-end office chairs.

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Airline May Land Long Beach for International

AVIATION: JetBlue’s plan may rise on proposal for airport inspection facility.

JetBlue is looking to get international service off the ground at Long Beach Airport.

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Presidential Endorsement

Dr. Mark Humayun, professor of ophthalmology, biomedical engineering, and cell and neurobiology at USC, received an unexpected surprise from President Barack Obama when he was awarded the National Medal of Technology and Innovation last year.

Ad Tech Firm Restocks Brass, Jumps to Nasdaq

INTERNET: Social Reality hires new CFO, turns to Kathy Ireland for advice.

Ad tech firm Social Reality boards Nasdaq on the back of acquisition-fueled growth.

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Burger Backer To Scale Sushi

Umami founder Adam Fleischman adds sushi and noodle concept Ramen Roll to his plate.

Shareholders May Have Say in Oil Bankruptcy

ENERGY: Judge approves role for equity committee in Breitburn negotiations.

Shareholder panel granted a seat at the table in oil company Breitburn’s bankruptcy negotiations.

Game Targets New Type Of Programmers

CodeSpark’s Foos aims to speak to young kids on coding language.

CodeSpark hopes programming video game Foos pushes young children’s buttons.

In Long Run

While running a business and running a government require wildly different skill sets, both face similar demands from constituents – get it done, and get it done fast.

Duo Fashions Lawsuit out of Rodeo Drive Deal

ACQUISITION: Pair claims they are owed finders’ fee from Bijan property sale.

A pair of L.A. businessmen who said they helped arrange a $122 million sale of the Bijan store on Rodeo Drive in July are suing two fashion companies connected to the deal, claiming to be owed a finder’s fee.

Conventions

Upcoming Conventions

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Calendar of events

Deals of the Week: A look at the companies that signed on the dotted line last week

Toymaker proves game for crowdsourcing marketing strategy

Continuing a year packed with new product rollouts and diversification efforts, Mattel Inc. has announced a two-year partnership with Santa Monica crowdsourced marketing and creative content company Tongal.

Some Ballot Measures Will Hit Closer to Home

POLITICS: County, city decisions would impact sales taxes, development.

While most of the attention on Election Day will be on the presidential and U.S. Senate races and statewide ballot initiatives, there are plenty of local ballot measures that will impact business.

Reputation Management Firm Seeks L.A. Status

ADVERTISING: Expanding Austin company opens Culver City location.

Darius Fisher has become an expert at managing the digital reputation of everyone from athletes to politicians.

Car Exec Still Plugs Electric

Henrik Fisker has charged back into the electric-car market with a new energy storage technology.

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Private Pitch

Dodgers fan Tony Pritzker talks long investment game with strategy based on buy-and-hold approach.

Pritzker Group’s Tony Pritzker goes to bat for private capital and the Los Angeles Dodgers.

Feud In Fashion

Clothing copyright case divides West, East coasts

Split appears between fashion industry’s coasts over copyrightable clothing case.

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Thursday, October 27

Gannett’s Tronc Interest Hits Major Snag

Gannett Co.’s interest in Los Angeles Times parent company tronc hit a major snag Thursday as a news report said lenders have withdrawn their financing.

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Silicon Beach Report Oct. 27: Facebook Copies Another Snapchat Feature

Facebook copies another Snapchat feature, Gannet may back away from tronc acquisition after banks walk, and coupon code finder Honey Science Corp. raises $5 million.

Axium International CEO John Visconti Convicted of Tax Fraud

John Visconti, former chief executive of Axium International Inc., was convicted on Tuesday of tax evasion, conspiracy to defraud the Internal Revenue Service, and filing a false tax return.

Wednesday, October 26

Silicon Beach Report Oct. 26: Snapchat Aiming to Raise As Much as $4 Billion

Snapchat aiming to raise as much as $4 billion, Techstars launches third L.A. accelerator program, and Super League Gaming raises $5 million.

Tishman Speyer Set to Buy Arts District Office for $25 Million

The company that owns New York’s Rockefeller Center is making a foray into L.A.’s up-and-coming Arts District.

Karl Strauss Brewing to Open Downtown L.A. Location Nov. 14

San Diego’s Karl Strauss Brewing Co. plans a Nov. 14 opening for its satellite brewery and brewpub in downtown Los Angeles, which will be the company’s 11th Southern California location.

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Tuesday, October 25

Silicon Beach Report Oct. 25: Hyperloop One Raising $250M

Hyperloop One raising $250 million, mobile game-streaming startup Mobcrush raises $20 million, and Snap Inc. sued for trademark infringement.

Jessica Lall Named New CEO of Central City Association

After a nationwide search, the Central City Association of Los Angeles found its new chief executive right next door.

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Siemer & Associates Acquired by Chinese Firm CEC Capital Group

CEC Capital Group has reached a deal to acquire Santa Monica’s Siemer & Associates, a boutique advisory firm specializing in the media and technology space.

Monday, October 24

Lawsuit Flares Up Over $122 Million Sale of Bijan Store

A pair of Los Angeles-based businessmen who said they helped arrange the $122 million sale of the Bijan store on Rodeo Drive in July are suing two fashion companies connected to the deal, claiming to be owed a finder’s fee.

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Tetra Tech Part of $400 Million Army Base Cleanup Contract

Water Consulting and Engineering Firm Tetra Tech Inc. announced today it was chosen as one of seven contractors eligible to receive up to $400 million in federal dollars to aid the environmental cleanup of old U.S. Army bases.

Silicon Beach Report Oct. 24: Joymode Raises $3 Million for Rental Experiences

Joymode raises $3 million for rental experiences, Tinder launches Silicon Valley office, Disney licenses Maker Studio content in the United Kingdom, and more.

Friday, October 21

Silicon Beach Report Oct. 21: Snapchat’s Content Terms Raises Questions for Publishers

Snapchat’s content terms raises questions for publishers, TigerText launches new messaging and workflow app, and Faraday Future Misses $21 Million Payment to Aecom.

Movers for Week Ending October 21, 2016

Century City’s Ritter Pharmaceuticals Inc. was the week’s biggest mover, up 53 percent to close at $2.60. Commerce-based furniture maker Nova Lifestyle Inc. was also among the week’s big gainers, jumping 16 percent to $4.30. Puma Biotechnology Inc. in West Los Angeles was the week’s biggest loser, dropping 20 percent to close at $43.55.

L.A. Garment Workers to Rally Against Ross Dress for Less

Los Angeles garment workers want to increase pressure on Pleasanton discount chain Ross Dress for Less.

County Unemployment Rate Ticks Up to 5 Percent, But Job Growth Strong

L.A. County’s unemployment rate rose slightly in September to 5 percent despite relatively strong job growth for the month, state figures released Friday show.

Furniture Maker’s Shares Up After Volatile Run

MANUFACTURING: Nova LifeStyle’s rise follows exec shakeup, China exit.

Furniture maker Nova LifeStyle gains ground on Wall Street after exiting Chinese market.

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Photographers Focused on Copyright Rights Online

Photographers have expanded their focus to protecting copyrights in the internet age.

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Santa Monica Office Rebound

After a midyear lag, Santa Monica’s leasing market is on the rise.

Lawyer Raises Bread Bar in Kitchen

Judith Khakshouy taught herself to make challah, a braided egg bread served on the Jewish Sabbath, while studying at Southwestern Law School.

Solar Company Loses Sizzle Through Expansion

POWER: Verengo files for Chapter 11 after Eastern states’ cooler reception.

Verengo Solar files for bankruptcy after getting burned by an overambitious expansion plan.

Struggling Studio Targets Data to Be in the Know

ENTERTAINMENT: Push by Paramount Pictures part of industry’s turn to analytics.

Paramount Pictures sees a bigger role for analytics in guiding its production decisions.

City Hall Event Elects for Deep Focus on Issues

POLITICS: BallotCon to offer videos, debates on all 17 statewide measures.

While Stan Lee’s Los Angeles Comic Con is set to overtake the Los Angeles Convention Center on Friday, political junkies will have their own chance to geek out the following day at City Hall.

Deals of the Week: A look at the companies that signed on the dotted line last week

Iconic gym to toe new branding line with foot-shaped shoe

Brand Sense Partners announced an unusual deal last week between its client, fitness chain Gold’s Gym, and footwear company Vibram, known for its FiveFingers brand athletic shoes.

Calendar

Calendar of events

Conventions

Upcoming conventions

The Long Game

Fasha Mahjoor stood at the precipice.

Working on Los Angeles

Investment in transit infrastructure would help drive local economy

Measure M could help get L.A. transit moving in the right direction, according to Mary Leslie, Nadine Watt, and Deborah Kallick.

Working on Los Angeles

Educational efforts will help ensure future labor force will make grade

Christian B. Teeter would like to see more work done to train future employees.

Slice of Pie

DINING: Pizza chain Fresh Brothers cuts in investor to feed growth.

Fresh Brothers decides to take dough from Nolan Capital to feed the pizza chain’s expansion.

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Powering Up

Swell Energy plugs batteries along with financing packages to homeowners

Swell charges into the home battery market on back of its financial packaging plan.

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Chemical Testing Firm Puts Money on Staffers

BIOTECH: Phenomenex’s CEO to share $12 million from sale of his company.

Chemical testing firm Phenomenex spreads the wealth by sharing $12 million windfall with employees.

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Spirited Season May Be in Store

Halloween pop-up shops expect presidental race, hit films to lift costume sales.

Halloween pop-up shops expect to scare up healthy returns before they go dark.

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Big Apple Firm Has Taste for Downtown Office

ACQUISITION: Tishman Speyer pays $25 million for couple of properties.

The company that owns New York’s Rockefeller Center is making a foray into L.A.’s up-and-coming Arts District.

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Facebook Sending Message to Snapchat

INTERNET: Social media giant vies with upstart for millennials.

Facebook has launched an unfriendly feud by aping the features of social media upstart Snapchat.

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Comic Con Looks to Ride Capes of Stan Lee, Local Vendors

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

When an estimated 90,000 attendees descend on the Los Angeles Convention Center for Stan Lee’s Los Angeles Comic Con on Oct. 28, they won’t find a host of movie stars ready to unveil clips from the latest superhero blockbusters.

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Thursday, October 20

Silicon Beach Report Oct. 20: Netflix Countersues Fox Over Employee Poaching Claims

Netflix countersues Fox over employee poaching claims, SAG-AFTRA rejects final offer from video game industry, and Seriously launches “Best Fiends” sequel mobile game.

Renovated LAX Terminal Debuts with $70.5 Million of Improvements

The Los Angeles International Airport debuted a freshly redesigned Terminal 6 on Wednesday, complete with Los Angeles-based retail and dining companies, and a vibe that’s said to be inspired by Sunset Boulevard.

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SAG-AFTRA Rejects Final Offer From Video Game Industry

Video game actors represented by SAG-AFTRA rejected a final contract offer on Thursday from the trade association representing the video game industry, setting up the union’s members to strike at midnight Friday.

Wednesday, October 19

Lemonade Appoints Former Universal Studios Hollywood Head Larry Kurzweil as President and CEO

Lemonade Restaurant Group announced Wednesday that Larry Kurzweil, the former president and chief executive of Universal Studios Hollywood, will be joining the company as president and chief executive effective Dec. 1. Co-founders of the Los Angeles-based fast-casual restaurant, Alan Jackson and Ian Olsen, will assume the roles of chairman and chief culinary officer, and chief development officer, respectively.

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Brentwood Town Center Brings in Paige Denim and Blue Bottle Coffee

The Brentwood Town Center is getting a shake-up. The compact retail center next to the Brentwood Country Mart recently signed five new leases worth more than $8 million, said Dan Blatteis, co-chairman at property owner Blatteis & Schnur Inc.

Silicon Beach Report Oct. 19: Oblong Industries Raises $65 Million

Oblong Industries raises $65 million, image stability technology manufacturer MEMS Drive raises $11 million, CBS Orders Candy Crush game show, and more.

Oblong Industries Raises $65 Million

Oblong Industries, the Los Angeles-based developer of spatial, immersive, and gesture-enabled technologies, announced Tuesday that the company raised a total of $65 million during its expansion funding round thanks to investments from new and existing investors.

Tuesday, October 18

Silicon Beach Report Oct. 18: Health care App Heal Raises $26.9 Million

Health care app Heal raises $26.9 million, clinical trial software developer Science 37 raises $31 million, and L.A. investor Ashton Kutcher says virtual reality is overhyped.

Health Care App Heal Raises $26.9 Million

Doctor house call app Heal of Santa Monica raised a $26.9 million Series A round led by Legendary Pictures chief executive Thomas Tull’s company Tull Investment Group.

Monday, October 17

Silicon Beach Report Oct. 17: Snapchat Makes Inroads in the United Kingdom

Snapchat makes inroads in the United Kingdom, SAG-AFTRA threatens video game publishers with strike, and HelloTech hires president.

Netflix Signs Lease for Hollywood Studio Space

Netflix Inc. has signed a 10-year lease for soundstages and production offices at Sunset Bronson Studios, property owner Hudson Pacific Properties said in a news release.

SAG-AFTRA Threatens Video Game Publishers with Strike

Video game actors represented by SAG-AFTRA are threatening to go on strike Friday if demands for a larger cut of royalties and limits on “vocally stressful sessions” are not enacted.

Carnival Cruise Line to Double Size of Long Beach Terminal

Carnival Cruise Line has signed an agreement to more than double the size of its Long Beach terminal to accommodate larger ships.

Friday, October 14

USC, Ports Partner to Improve Supply Chain Technology

The University of Southern California, local ports, and the U.S. Department of Commerce have formed a strategic partnership aimed at improving the global competitiveness of the nation’s supply chains.

Movers for Week Ending October 14, 2016

El Segundo-based sporting goods retailer Big 5 Sporting Goods was this week’s biggest mover, gaining 8 percent to end at $16.99. Kilroy Realty Corp. Real Estate Trust was also among the week’s movers. The DTLA real estate corporation gained 5 percent to end at $70.11. Specialty pharmaceutical company Ritter Pharmaceuticals Inc. was this week’s biggest loser, dropping 14 percent to end at $1.70.

Construction Begins at Santa Monica Luxury Hotel

Construction has begun on a new 271-room luxury hotel and retail complex on Wilshire Boulevard and 7th Street in Santa Monica, according to the Kor Group, the real estate investment and management group developing the property.

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Hanjin to Sell Assets as Containers Pile Up, Long Beach Cargo Drops

From empty containers piling up to a drastic drop in cargo numbers, the impact of Hanjin Shipping Co.’s bankruptcy filing this summer has continued to frustrate local businesses.

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SPECIAL REPORT: Tri-Cities

The office vacancy rate in the Tri-Cities had no change in the third quarter, staying at 12.3 percent, compared with 14.2 percent in the same period in 2015

Deals of the Week: A look at the companies that signed on the dotted line last week

Food giant’s investment feeds confidence of faux meat maker

Tyson Foods Inc.’s purchase of a 5 percent stake in Beyond Meat last week was hailed as an affirmation by the El Segundo-based company’s chief executive, Ethan Brown.

Labels Pursue Video Payback

MUSIC: Recording industry fights YouTube-derived MP3s.

Record labels’ piracy lawsuit could be a tune-up in the fight against converting videos into MP3s.

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High-End Stores Face Rocky Road

DEVELOPMENT: Repairs to street could hinder access to Golden Triangle shops.

Beverly Hills shop owners fear doing poorly during road reconstruction near a ritzy retail strip.

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Veteran Investors Step Up to Plate With E-Sports

INTERNET: Peter Guber-led acquisition of Team Liquid could prove game-changer.

Peter Guber has drafted a veteran team of investors in his move into the e-sports field

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SPECIAL REPORT: Downtown Los Angeles

Downtown’s office vacancy rate fell slightly in the third quarter, to 16.3 percent from 16.4 percent in the prior quarter, and compared with 18.2 percent in the same quarter a year ago.

SPECIAL REPORT: Hollywood

Hollywood’s office vacancy rate dropped in the third quarter, falling to 27.6 percent from 28.7 percent in the prior quarter, but is still almost twice the 14.2 percent of the year-earlier period.

SPECIAL REPORT: Westside

The Westside’s office vacancy rate decreased slightly in the third quarter, reaching 13.6 percent from 13.7 percent in the prior quarter, and compared with 14.5 percent in the year-earlier period.

Stepping Up to Towering Wins

Los Angeles has a new power couple: Brian and Michelle Duff.

SPECIAL REPORT: Santa Clarita Valley

The Santa Clarita Valley’s office vacancy rate rose, reaching 11.5 percent from 11.2 percent in the prior quarter, and compared with 13 percent in the year-earlier period.

Expansion Drive Fills Chef’s Plate

Jon Rollo maps out future of salad-sandwich chain with outposts outside California.

Greenleaf Gourmet Chopshop hopes to feed its expansion drive by opening out-of-state outposts.

SPECIAL REPORT: San Fernando Valley

The San Fernando Valley’s office vacancy rate dropped slightly in the third quarter to 13.3 percent from 13.4 percent in the prior quarter and compared with 14.3 percent a year earlier.

Real Estate Firm Sold on Retail

Partners Trust opens office to designer showcases with sales donated to charity.

Partners Trust buys into a retail experiment by showcasing designers at its office

SPECIAL REPORT: Wilshire Corridor

The Wilshire Corridor’s office vacancy rate stayed fairly flat in the third quarter, dipping to 18.3 percent from 18.5 percent in the prior quarter, and compared with 19.9 percent in the year-earlier period

SPECIAL REPORT: South Bay

The South Bay’s industrial vacancy rate rose in the third quarter to 0.8 percent from 0.6 percent in the prior quarter. The market saw 3.1 million square feet of sales and leasing activity, with 2.3 million square feet under construction.

SPECIAL REPORT: San Gabriel Valley

The San Gabriel Valley’s industrial vacancy rate increased to 0.7 percent from 0.6 percent in the prior quarter. Roughly 2.8 million square feet were leased and sold, up from 1.9 million square feet in the second quarter.

Calendar

Calendar of events

Conventions

Upcoming conventions

Coming and Going

Our reader poll this week asks whether one of L.A.’s few unicorns, Honest Co., should continue to look for an acquirer, as has been reported, or pursue an exit through a public offering.

SPECIAL REPORT: Prized Possessions

Legal victory by Los Angeles County could shut door on property owners avoiding payment of transfer taxes – as well as dodging reassessments – by using holding companies, trusts as ownership vehicles

Legal win by Los Angeles County regarding the ownership transfer in a multifamily sale could open the door to more property reassessments.

Hanjin’s Empties Pile Up Despite Slowdown in Long Beach

Port Works to Keep Cargo Containers in Check

Pier pressure mounts at ports as Hanjin Shipping’s emptied containers begin to stack up.

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Agency Plans to Pick Up Pace on Acquiring Firms

ADVERTISING: Number of targets for Engage:BDR bumped up to 15 from 12.

Engage:BDR is completely committed to buying firms to round out its offerings to clients.

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Recovery Drive Yielded Deal for Auto Parts Firm

Transamerican Auto Parts is shifting into high gear after revving its way out of financial turmoil.

SPECIAL REPORT: Tech Industry Charges Up Office Market

The L.A. office market saw a solid third quarter, with the vacancy rate narrowing to 14.8 percent from 16.2 percent in the same period last year, according to data from Jones Lang LaSalle.

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Squeeze In

CedarLane puts food packaging under pressure

CedarLane Natural Foods touts its investment in high-pressure processing as a packaging deal.

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Oil Companies Seek to Hold Ground on Drilling

ENERGY: Rule changes by city of L.A. include hike in cost of permit process.

A trade group representing small local oil producers is upset over changes to the city of L.A.’s drilling permit regulations and wants those changes rolled back.

Solar Firm Plans Record-Breaking Hot Property

ENERGY: SolarReserve’s project would be world’s largest thermal facility.

SolarReserve last week announced it is aiming to build a $5 billion, 10-tower solar thermal project – the largest such facility in the world – on a plot of land in Nye County, about 225 miles northwest of Las Vegas.

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

TECHNOLOGY: Summit to spotlight diversity among local industry ventures.

From virtual reality to drones, raising capital to marketing a startup, the upcoming L.A. Tech Summit in Santa Monica will explore the far-flung corners of the local tech industry.

Kobe Bryant’s Partner Courted Controversy

INVESTMENT: Kobe Bryant’s Partner Courted Controversy

A previous firm of Kobe Bryant’s venture capital partner Jeff Stibel netted several lawsuits with its business practices.

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Thursday, October 13

Silicon Beach Report Oct. 13: Hyperloop One Raises $50 Million

Hyperloop One raises $50 million, Soylent tells customers to throw away vomit-inducing bars, Atari’s Nolan Bushnell launches virtual reality company, and more.

Reality and Web-Based TV Increased Filming in L.A. Last Quarter

Reality television and web-based TV productions helped boost Los Angeles-based production shooting days last quarter while features and commercials saw declines, FilmL.A. announced on Thursday.

Downtown Federal Courthouse Gets Final Touches Before Opening

After $350 million and nearly four years of construction, downtown’s shiny new federal courthouse is ready for its public debut. Although the bulk of construction was completed in August, a ribbon-cutting ceremony is scheduled for Thursday and will feature speeches from Mayor Eric Garcetti, downtown councilman José Huizar and U.S. Rep. Lucille Roybal-Allard.

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Wednesday, October 12

Silicon Beach Report Oct. 12: SolarReserve to Build $5B Thermal Solar Project in Nevada

SolarReserve to build $5 billion thermal solar project in Nevada, Snapchat picks Morgan Stanley and Goldman Sachs for IPO, Pluto TV Raises $30 million, and more.

Oaktree Capital Invests $85M in Canadian Food Company

Private equity firm Oaktree Capital Management has invested $85 million in Canadian organic and non-GMO food producer SunOpta Foods, Inc.

Wells Fargo CEO John Stumpf to Step Down

Wells Fargo & Co. announced today that the company’s Chief Executive John Stumpf is retiring and will step down as chairman and chief executive, effective immediately.

SolarReserve to Build $5B Thermal Solar Project in Nevada

SolarReserve announced on Tuesday that it would build ten solar thermal plants on a Nye County site about 225 miles northwest of Las Vegas for $5 billion.

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Tuesday, October 11

Silicon Beach Report Oct. 11: Snapchat Courting Hollywood Producers

Snapchat courting Hollywood producers, SpaceX expects to launch again by the end of the year, and FameBit acquired by Google.

Famebit Acquired by Google

Multichannel media network Famebit has been acquired by Google for an undisclosed amount.

Famebit Acquired by Google

Multichannel media network Famebit has been acquired by Google for an undisclosed amount.

L.A. City Economy Showing Broad, Robust Growth

The city of Los Angeles economy saw broad-based, steady growth last year, according to a report to be released this morning from Beacon Economics for the Los Angeles Area Chamber of Commerce.

Monday, October 10

Silicon Beach Report Oct. 10: Upfront Launches $40 Million Ancillary Fund

Upfront launches $40 Million ancillary fund, Disney builds one-legged robot, and La Kretz innovation campus opens.

Five New Industrial Buildings in El Monte on the Market

Five new industrial buildings totaling 501,270 square feet are now in the market in El Monte, giving the San Gabriel Valley city its first new industrial sites in about eight years.

Opponents Kick Off Campaign Against Initiative to Rein in Mega Developments

Representatives from business, affordable housing and labor groups officially launched their campaign Monday against an initiative on the March Los Angeles city ballot measure that would place a two-year moratorium on major development projects and place permanent restrictions on mega-developments.

Friday, October 7

Warner Music Group Inks Ford Factory Lease

Warner Music Group Corp. signed a long-term lease for the full Ford Factory in downtown’s Arts District, the company reported in a Securities and Exchange Commission filing on Friday.

Silicon Beach Report Oct. 7: Techstars Launches Music Accelerator

Techstars launches music accelerator, Rinse buys Washio’s assets, and Snapchat hires New York Post president for content team.

Movers for Week Ending October 7, 2016

Century City-based pharmaceuticals company Ritter Pharmaceuticals Inc.was this week’s biggest mover, gaining 17 percent to end at $1.97. Big 5 Sporting Goods Corp. was also among the week’s movers. The El Segundo-based sporting goods retailer gained 16 percent to end at $15.74. Patent acquisition company Marathon Patent Group was this week’s biggest loser, dropping 14 percent to end at $2.42.

Rand Corp. Locks Down $495M Deal on Homeland Security

Rand Corp. landed one of the biggest government contracts in its nearly 70-year history last week, a five-year deal worth as much as $495 million to set up a policy analysis center for the U.S. Department of Homeland Security.

USC Named Media Center for Prospective Olympic Games

The committee to bring the Olympic Games back to LA in 2024 submitted a key report to the International Olympic Committee on Friday, outlining the city’s master plan and “ideal conditions” to accommodate an influx of athletes, spectators and reporters.

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Turning the Channel

We all knew the expansion couldn’t go on forever.

Hangar Buyer Will Also Land Google as Tenant

LISTING: Former home to Spruce Goose could run up to $1,000 a square foot.

The former Spruce Goose hangar in Playa Vista is available for interested parties, along with the opportunity to claim Google Inc. as a tenant just as the technology giant is planning to expand its office space within the massive wooden shell.

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

Agriculture program may guide other fields on skills training.

Lynda and Stewart Resnick want their Wonderful Co. to produce more than pomegranates and pistachios.

New Home Base

Restrictions push Chinese investors away from higher-price single-family residences to condos

Condo projects could get a boost as Chinese investors move away from costlier single-family homes.

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Advertising Agency Supermoon Starts Fresh Mission

ADVERTISING: New name, execs help guide Supermoon.

Veteran agency hits the trail for campaigns with a new name and executive leadership.

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Bag Company Command Packaging Got Early Jump on Recycled Plastic

Ban Wagon

Plastic bag maker moved early to get a handle on recycled content requirements.

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Show Schedule Ready for Fall?

TV: Downward pressure on ad rates may curtail production.

Decreasing ad rates may finally pull the plug on the run-up in production of scripted shows.

Mat Maker Not Stressed by Price

BallerYoga forms business around high-price product with football-like texture.

Mats made of football-like leather just feel right to YogaBaller founder Cedric Yau.

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L.A. City Controller Runs Numbers by Business

GOVERNMENT: Open data, lawsuit reduction among Ron Galperin’s priorities.

City Controller Ron Galperin talks on how Los Angeles has greeted business-friendly policies.

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Treats Company Has More to Give

This Bar Saves Lives teams with Starbucks distribution to heat up charitable sales.

Charity-minded This Bar Saves Lives adds Starbucks distribution to the mix for its granola treats.

Licensing of Legalized Pot Fires Up City, Vendors

GOVERNMENT: Marijuana firms scramble to solve pending permitting issue.

The prospect of legalized marijuana has city and vendors scrambling for licensing regime.

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Weed Firm Uses Celebs to Puff Up Pricey Strains

MARIJUANA: Chroncierge’s pot, items pitched as high end.

Chroncierge looks to roll branded merchandise into its premium-label pot business.

Calendar

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Think Tank Rand Corp. Locks Down $495 Million Deal on Homeland Security

Deals of the Week: A look at the companies that signed on the dotted line last week

Rand Corp. landed one of the biggest government contracts in its nearly 70-year history last week, a five-year deal worth as much as $495 million to set up a policy analysis center for the U.S. Department of Homeland Security.

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Attorney’s Dogged Dedication

When attorney Karen Johnson says she’s been a lifelong fan of dachshunds, she means lifelong.

Recasting film-tv synergy

What would a rejoining of Viacom and CBS mean for Leslie Moonves – and L.A.?

Upgrades to Figueroa Street Ready to Hit Road

DEVELOPMENT: Project’s additions will include new sidewalks; bus, bike lanes.

The city’s long-planned $20 million Figueroa Street overhaul finally has a start date.

Suitor Making News With Bid for Paper’s Parent

JOURNALISM: Gannett’s new offer could deliver Times, tronc ownership.

The long-awaited end to the tronc-Gannett saga might be near.

Conventions

Upcoming conventions

New Trade-Secret Statute Put in Play for Toy Battle

LAW: Plaintiff aims to boost My Little Pony ownership claims in fight with Hasbro

Toy inventor plays up new federal statute on trade secrets in My Little Pony battle with Hasbro.

Thursday, October 6

Silicon Beach Reporter Oct. 6: Snapchat Reportedly Preparing for $25B IPO

Snapchat reportedly preparing for $25 billion initial public offering, Reaction Commerce raises $2.7 million, Rubicon Project hires Google executive as chief product officer, and more.

L.A. Fast Casual Restaurant Greenleaf Gourmet Chopshop Growing

L.A. fast casual salad restaurant Greenleaf Gourmet Chopshop is growing.

Snapchat Reportedly Preparing for $25B IPO

Snap Inc. is reportedly preparing for a $25 billion initial public offering of its stock this March.

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Screenwriter Michael Elliot Starts Nail Salon for Men

Dudes across the country will now have their very own man cave-like space to get a manicure and pedicure.

Wednesday, October 5

Silicon Beach Report Oct. 5: Boeing Vows to Beat SpaceX to Mars

DogVacay expects profitability next year, Boeing vows to beat SpaceX to Mars, and Honest Co. allegedly makes it difficult to cancel subscriptions.

Tribune Media Plans Downtown Condo Tower

Tribune Media is aiming to build a 30-story condominium tower next to the Los Angeles Times building in downtown.

Spruce Goose Hangar Leased by Google Soars Into Market

The former Spruce Goose hangar in Playa Vista is up for sale, along with the opportunity to claim Google Inc. as a tenant just as the technology giant is planning to expand its office space within the massive wooden shell designed by aviator Howard Hughes.

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Tuesday, October 4

Silicon Beach Report Oct. 4: Fisker Relaunches His Electric Car Brand

Fisker relaunches his electric car brand, Disney rumored to be looking at Netflix acquisition, MTV to make shows for Snapchat, and more.

Russian Firm CJSC S7 Group’s Bid for Rocket Launcher Comes Under Fire

Russian private aviation holding company CJSC S7 Group’s purchase of Sea Launch, a rocket launch company that operates out of the Port of Long Beach, is making waves in the Southern California aerospace industry, with a legal challenge by the Boeing Co. and concerns about the Russian company’s involvement.

Fisker Relaunches His Electric Car Brand

Famed car designer Henrik Fisker has launched a new electric car company named Fisker Inc. in Los Angeles.

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Monday, October 3

Silicon Beach Report Oct. 3: Faraday Future Signs Battery Supply Agreement with LG Chem

Faraday Future signs supply agreement with LG Chem, SpaceX runs down all rocket explosion leads, including sabotage, and WhatsApp pushes Snapchat-like feature.

New LAX Connector Joins Domestic, International Terminals

Los Angeles International Airport opened a $148 million terminal connector last week to make moving from domestic flights to international flights easier on passengers.

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Gannett Deal to Buy tronc May Be Imminent

The long-awaited end to the tronc-Gannett saga might be near. Then again, it might not be. The possibility of the announcement of a deal on Monday for Gannett, the newspaper chain and publisher of USA Today and other dailies, to purchase Los Angeles Times parent tronc was first reported by Politico on Sunday.

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SpaceX Runs Down All Rocket Explosion Leads, Sabotage Included

As part of an effort to run down every lead in its Falcon 9 rocket explosion investigation, Space Exploration Technologies Corp. is reportedly looking into sabotage, possibly by its rival United Launch Alliance.

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