Stories for July 2017
Monday, July 31
Sony Pictures Television has reached an agreement to acquire a majority stake in Texas-based Funimation Productions Ltd., a distributor of Japanese anime content, valuing the company at about $150 million.
Snap Inc. shares dip after lock-up ends, e-sports audience analytics software maker raises $1.8 million and Ring launches spotlight cam.
Harold M. Williams, founding president and chief executive of the J. Paul Getty Trust, has died at the age of 89.
The L.A. Olympic bid committee announced Monday that it had reached a deal with the International Olympic Committee to host the 2028 Summer Olympic Games.
Friday, July 28
Mid-Wilshire real estate investment firm CIM Group has sold its new 286-room West Hollywood hotel at the intersection of Sunset and La Cienega boulevards for an undisclosed amount, the company announced this week.
Pasadena-based Arrowhead Pharmaceuticals Inc. was this week’s biggest mover, gaining 18.54 percent to end at $1.79. Adhesive manufacturing company Flamemaster was also among this week’s biggest movers. The Los Angeles-based specialty chemical manufacturer rose 11.11 percent to end at $11. El Segundo-based direct marketing company PCM Inc. was this week’s biggest loser, dropping 31.10 percent to end at $13.12.
Whisper lays of 20 percent of staff, SpaceX raises $350 million as valuation rockets to $21 billion, and Will.i.am’s company buys smart home company Wink for $39 million.
Beverly Hills private equity firm Gores Group acquired jukebox-maker AMI Entertainment Friday for an undisclosed sum.
Downtown-based BYD Motors has nabbed a $66 million contract with the Los Angeles Metropolitan Transportation Authority to build 60 new electric buses for the agency’s bus fleet.
ART: Philanthropists draw up creative sites for Los Angeles.
The Ahmanson family has mapped out a venture to back creative spaces in Los Angeles.
Pushing last call to 4 a.m. could boost revenues but add costs.
State bill to push last call to 4 a.m. could serve up more revenues and costs for businesses.
MANUFACTURING: Office in O.C. draws Ducommun.
L.A.’s oldest company, Ducommun, relocates to a Santa Ana office near the airport.
Ports’ clean air plan and companies’ independent-contractor model drive up costs for truckers.
DEVELOPMENT: Billings rise again, reach $8.5 billion.
Contractors’ billings remain on a firm foundation as the recovery continues.
Fraser Ross expands filing against former Kitson CEO, accusing company’s lenders.
The saga over the unraveling of L.A. retailer Kitson continued this month with an amended complaint filed in Los Angeles Superior Court targeting the company’s lenders.
MANUFACTURING: Loss of American Apparel, Toyota cuts employment numbers.
Aerospace companies rise to the top of the employers list after two other businesses depart.
Overview of the local submarkets in the second quarter.
Brookfield looks to connect with buyers in Playa Vista by equipping Apple tech.
Playa Vista has become even more of a technology hub, moving beyond the office into people’s homes.
Main events in L.A.’s submarkets in the second quarter.
Emagispace raises $4.2 million to help product grow beyond use on film, television productions.
Modular wall maker Emagispace assembles $4.2 million Series A funding round.
Job security for truck drivers should help steer policy discussions at the ports.
Calendar August 2017
It’s good times for big construction contractors around town, as our annual list and the accompanying coverage that starts on page 1 indicates.
Three properties add 1,465 rooms, nearly one-third of six-month total.
Downtown’s Financial District accounted for nearly one-third of the number of hotel rooms added to the industry’s inventory statewide in the first half of the year, thanks to a pair of high-profile entries and the arrival of a traditional boutique.
MARIJUANA: High Times magazine, brand scored by Origo in $250M acquisition.
The parent company of cannabis lifestyle brand and magazine High Times is going public after being acquired last week by a special-purpose acquisition corporation (SPAC), which valued the company at $250 million.
In-flight Wi-Fi provider Golden Eagle disconnects from $416 million Chinese deal.
Molina announces 1,400 layoffs as a cost-cutting measure.
Electric bus maker Proterra pulls into new factory in the City of Industry.
Air quality board moves against metal-finishing plant Lubeco to cut toxic emissions.
Reed’s financial moves drop share value but new chief executive says turnaround strategy coming.
Financial moves by Reed’s have shaken up investors’ faith in the company.
Thursday, July 27
West L.A.’s Rexford Industrial Realty Inc. has purchased the six-building Rancho Pacifica Industrial Park in Rancho Dominguez for $210.5 million, or $180 a square foot, from downtown’s CBRE Global Investors Ltd., according to a statement.
Virtual reality studio Within raises $40 million, PCM Inc. share price falls 25 percent and TenOneTen raising $50 million fund.
Coworking startup WeWork has signed a lease to occupy the entire seventh and eighth floors of Pacific Design Center’s RedBuilding in West Hollywood, adding 70,000 square feet to its portfolio of 13 L.A. County locations.
The parent company of cannabis lifestyle magazine High Times is going public after being acquired by a special-purpose acquisition company (SPAC), which valued the company at $250 million.
Local air quality regulators on Wednesday announced they are seeking an order to reduce emissions of a toxic chemical at Lubeco Inc., a Long Beach metal-finishing plant.
Wednesday, July 26
Downtown’s RBB Bancorp joined the ranks of public companies Wednesday with an $86 million initial public offering on the Nasdaq.
Silicon Beach Report July 26: Global Eagle to Cancel $416 Million Deal With Chinese Firm Over National Security Concerns
Global Eagle to cancel $416 million deal with Chinese firm over national security concerns, Guidance Software acquired for $240 million, and Elon Musk reveals car elevator at Boring Co. site.
Burlingame-based electric bus manufacturer Proterra Inc. commemorated its new manufacturing facility in City of Industry on Wednesday.
National security concerns have forced Global Eagle Entertainment, an in-flight Wi-Fi service, to cancel a $416 million investment agreement with China’s Beijing Shareco Technologies to create a new joint venture for the Chinese market.
Tuesday, July 25
Downtown L.A. restaurant and coffee roaster Urth Caffé is moving its central kitchen and headquarters to Hawthorne, the company announced Tuesday.
The iconic Bradbury House at 102 Ocean Way in Pacific Palisades has sold for $12 million to a local woman who intends to make it her primary residence, according to John Aaroe Group, which represented the seller.
Modular construction startup Emagispace raises $4.2 million, ABC News forms production partnership with ATTN:, and Elon Musk disses Mark Zuckerberg’s understanding of the dangers of artificial intelligence.
The Annenberg Foundation has awarded downtown’s Music Center a $3 million grant to advance arts education, the center announced Tuesday.
Monday, July 24
Internet Brands to buy WebMD for $2.8 billion, Hulu names Google veteran as marketing executive, and ‘Game of Thrones’ Snapchat lens reaches 45 million people.
Long Beach-based Molina Healthcare Inc. plans to cut 1,400 jobs in the next few months, Reuters reported Monday.
Olympics Get Transit Moving
The Los Angeles County Metropolitan Transportation Authority has identified several transit projects for possible fast-tracking before the Olympics come to Los Angeles in 2024 or 2028.
Platinum Equity deployed more of its $6.5 billion flagship Fund Monday, announcing an agreement to purchase United Site Services for an undisclosed sum.
Internet Brands Inc. of El Segundo announced an agreement Monday to acquire online medical information company WebMD for $2.8 billion.
Friday, July 21
Spanish-language broadcaster Entravision Communications Corp. has entered into an agreement with OTA Broadcasting to acquire Palm Springs stations KMIR-TV, an NBC affiliate, along with KPSE-LA, a MyNetworkTV affiliate, for $21 million.
Cinq Music raises $20 million Series B, Snap Inc. selling Spectacles in Harrods of London, and Snap Inc. hires Swiss team behind anti-reverse engineering software.
Beverly Hills-based biotechnology company Capricor Therapeutics was this week’s biggest mover, gaining 92.65 percent to end at $1.31. Social Reality Inc. was also among this week’s biggest movers. The Los Angeles-based internet advertising company rose 19.17 percent to end at $1.43. Santa Monica-based automotive pricing and information website True Car Inc. was this week’s biggest loser, dropping 7.42 percent to end at $19.96.
L.A. County’s unemployment rate remained unchanged in June from May’s record low 4.4 percent as a seasonal drop in education payrolls offset modest hiring in other sectors.
Children’s Hospital Los Angeles has received a $3 million investment from philanthropists Teresa and Byron Pollitt for an endowed chair position as the director of CHLA’s Fetal and Neonatal Institute.
L.A. County’s total assessed property values rose 6 percent over the past year to a record $1.47 trillion, marking the seventh consecutive year of property value growth, County Assessor Jeffrey Prang announced late Thursday.
LAW: DLA Piper gets Liner in local industry shakeup
DLA Piper plans merger with local law firm Liner.
ECONOMY: Snap’s entry, Activision’s strength set pace.
A look at the movers on this year’s list of the largest public companies ranked by market capitalization.
Software developer clicks with Playa Vista ad exchange Rubicon Project in $38.5 million deal.
Torrance’s Providence Little Company of Mary Medical Center receives $20 million donation.
Honda of Hollywood revs up interest from a San Jose-based buyer.
Call it some sort of kismet when it comes to Dan Beckerman, chief executive of downtown-based AEG, and Peter Guber, boss of Mandalay Entertainment Group in Culver City.
Adult beverage sales seen as key to increasing movie attendance.
Movie theaters try to lure customers with increased alcohol sales.
Downtown-based electric vehicle maker seeks $66 million contract.
Electric bus maker BYD sweetens deal for MTA contract.
LAEDC teams up with community colleges on workforce training program.
PORTS: Shipping line mergers are changing cargo movement locally, abroad.
Shipping line mergers are having ripple effects at L.A.’s twin ports.
FrontEdge Technology pulls in $2.7 million for razor-thin product for medical devices.
FrontEdge Technology Inc. raised $2.7 million from a couple of undisclosed investors last month to further develop a razor-thin battery for in-body medical devices.
Developer bills project as new green standard, relief on housing crunch
A 21,500-home community has finally gotten the green light after years of legal and environmental challenges.
ENTERTAINMENT: Talent agencies’ old-school training.
Aspiring agents at local talent agencies are still required to put in time in the company mailroom.
Sold on Stores
Delivery not seen as vital in near term for grocery chain Trader Joe’s despite market trends.
Business groups fear city’s plan for affordable housing could price out projects.
Along-contentious battle over development of Santa Monica’s downtown is expected to come to a head this week as the City Council is set to consider a long-term development plan for the area.
HEALTH CARE: El Segundo base for anti-cancer components.
Billionaire Patrick Soon-Shiong has pledged to bring manufacturing jobs to El Segundo as part of his cancer treatment initiative.
TECHNOLOGY: Certificate in place of pilot’s license among changes to ease way.
Drone filming companies say new FAA rules have helped business take off.
Successful investment must go beyond housing to the nonprofits who support those in need, writes Joel John Roberts.
Critics may still raise hackles, but Newhall Ranch approval should be viewed as a win.
$83 million multifamily sale highlights potential between downtown, MacArthur Park.
Sonny Astani sees some potential for another project on the stretch of Wilshire Boulevard between downtown and MacArthur Park after a recent $83 million sale of the 218-unit WilshireValencia apartments.
Calendar of Events
logistics: Purchase is part of Long Beach delivery company’s expansion effort.
There’s no denying the newspaper business is struggling – especially on the print side – but the proverbial newspaper boy is, surprisingly, doing just fine.
Thursday, July 20
The Long Beach Harbor Commission is getting two new members: former Assemblywoman Bonnie Lowenthal and former City Councilman Frank Colonna.
Elon Musk claims ‘verbal approval’ for hyperloop route from NY to DC, Falcon Heavy launch has “good chance” of failure says Elon Musk, and Hulu signs 3,000-episode distribution deal with 20th Century Fox.
Providence Little Company of Mary Medical Center in Torrance has received a $20 million donation from philanthropists Priscilla Hunt and the late Donald G. Hunt, the hospital said Thursday.
Elon Musk said on Thursday that his Boring Co. received “verbal approval” to build an underground hyperloop system from Washington, D.C., to New York.
Westwood and downtown-based boutique law firm Liner plans to merge with industry behemoth DLA Piper, the firms said Thursday.
The Los Angeles County Economic Development Corp. will host a new center for workforce training programs as part of a program funded by local community colleges, LAEDC executives and community college officials were set to announce Thursday.
Wednesday, July 19
Pasadena avatar-generating startup Oben Inc. raises $5 million, NBC adds Snapchat news show, and SpaceX not going to land Dragon capsule on Mars with rocket thrusters.
Downtown manufacturer Rosa Foods Inc. will sell its line of Soylent meal replacement drinks in brick-and-mortar stores this month for the first time, the company has announced.
Implementing goals of having only zero-emission vehicles and cargo handling equipment by 2035 will cost the ports of Los Angeles and Long Beach $7 billion to $14 billion, according to the ports’ Clean Air Action Plan update released Thursday
Artificial intelligence startup Oben Inc. said it has raised a $5 million round led by Chinese investment firm Tencent Holdings.
Tuesday, July 18
ACI Last Mile Network said Tuesday it had acquired CIPS Marketing Group – which was jointly owned by the Los Angeles Times and Digital First Media – for an undisclosed sum.
Half of the massive Newhall Ranch development project sailed through approvals Tuesday at a public hearing by the Los Angeles County Board of Supervisors.
Rubicon Project buys nToggle for $38.5 million, artificial intelligence startup Oben raises $5 million and Snap Inc. begins selling Spectacles on Amazon.
Metro-Goldwyn-Mayer Inc. announced Tuesday it is expanding its reality television footprint by acquiring the assets of reality TV producer Evolution Media.
Online advertising marketplace Rubicon Project announced Tuesday that it had acquired nToggle Inc. for $38.5 million.
A Hollywood car dealership that was owned by the same family for almost 60 years has been sold for an undisclosed amount, according to Irvine auto sales advisory firm Kerrigan Advisors.
Monday, July 17
Mary Gu Shuhang has been appointed chief executive of CAA China, a Beijing-based media and entertainment platform created earlier this year between Century City’s Creative Artists Agency and CMC Capital Partners.
The ports of Los Angeles and Long Beach each reported they had their second-highest June cargo numbers, as L.A. hit a record volume in its last fiscal year.
Silicon Beach Report July 17: Faraday Future Makes High-Profile Hire from BMW Despite Financial Problems
Faraday Future makes high-profile hire from BMW despite financial problems, Impact Health raises $13 million, and Snap Inc. stock lockup to end soon, possibly putting more pressure on shares.
Delta Air Lines announced Monday that it is restoring daily nonstop flight service from Los Angeles International Airport to Mexico City starting Dec. 1 after a 12-year hiatus.
Friday, July 14
West L.A. private equity firm Brentwood Associates took a minority stake this week in Pasadena’s Blaze Pizza, according to the restaurant chain’s spokesman Joshua Levitt.
Snap Inc. had acquisition talks with AdRoll, NationBuilder’s clients include Trump’s campaign and French President Macron, and SpaceX seeks government funds for deep space exploration.
Santa Monica’s Cornerstone OnDemand Inc. was the week’s top gainer, jumping 10.8 percent to close at $38.37. Guidance Software Inc. also had a big week, with the Pasadena-based company gaining 9.2 percent to close at $7.14. Reed’s Inc., the downtown beverage-maker, was the week’s biggest laggard. It closed at $1.65, down 35.3 percent.
Century City’s beverage advisor firm First Beverage Group has raised $64 million through its venture fund, according to a document filed Thursday with the U.S. Securities and Exchange Commission.
RETAIL: Westfield property bags seventh spot as site bids to compete in online era.
Westfield Century City looks to sell shoppers on the mall experience with experiential attractions.
INTERNET: Ransomware has cybersecurity firms in demand.
Spike in ransomware attacks has orders clicking at cyberdefense providers.
SPORTS: Both Immortals, Team Liquid move forward on new training facilities.
Two video-game teams look to field training facilities to boost player performance.
APPAREL: Brand life holds some promise for bankrupt BCBG Max Azria Group.
Busted BCBG Max Azria Group could button up life as a brand and even keep some stores open.
FOOD: Rosa to sell formerly online-only Soylent in stores to prep for national rollout.
Downtown manufacturer Rosa Foods Inc. will sell its line of Soylent meal replacement drinks in brick-and-mortar stores this month for the first time, the company has announced.
State bill looks to sink Cadiz’s aquifer project with final OK in sight.
State lawmaker’s bill kicks sand at Cadiz’s hopes for final approval of its desert aquifer project.
NONPROFIT: Districts mull fee increases, service cuts.
Business improvement districts work to resolve rising labor costs from minimum-wage hikes.
ACQUISITION: China-linked buyer plans to build 24-story residential-retail building.
A parcel near downtown’s Financial District sold last month for $26.5 million, or $795 a square foot, to a developer that plans to build a 24-story condominium tower in place of a decades-old motel.
Calendar: July 17-25
Sheriff Jim McDonnell makes a case for the business community’s role in dealing with homelessness.
INVESTING: StartEngine’s data points to raised profile for group-effort approach.
Regulation crowdfunding is showing signs of gaining some traction a little more than a year after the Securities and Exchange Commission gave the concept a greenlight.
Fifth Wall Ventures’ accelerator aims to help real estate tech gain ground.
Brentwood Associates overshoots target with $1.2 billion for firm’s sixth fund.
Netflix makes a bigger production out of its Hollywood operations with a lease for more space.
E-sports startup aXiomatic has sped its way to the Disney Accelerator program.
Fashion Business founder says nonprofit approach poor fit for guidance-providing operation.
Founder says the bankrupt Fashion Business was hemmed in by a nonprofit structure.
Yamibuy, built from a Chinese student’s cravings for a taste of home, looks to double revenue.
Yamibuy’s Alex Zhou turned his interest in Asian spices into an e-commerce platform.
What started as a visit by a prominent health care executive to festivities for LACMA’s Picasso-Rivera exhibit back in 2016 has given birth to an exhibit drawn from a corporate art collection that somehow manages to be remarkable, under-the-radar and accessible like no other in Southern California all at once.
SPORTS: Run at Olympics has rung up $16 million tab.
Los Angeles appears likely to bring home the gold, silver and bronze of the 2028 Summer Games.
FILM: #OscarsSoWhite came to define four-year tenure.
Departing President Cheryl Boone Isaacs talks how #OscarsSoWhite played a key role in diversifying the academy.
Thursday, July 13
Alcohol delivery service Saucey raises $5.4 million, Snapchat signs content production partnership with Formula One and Open Listings raises $6.5 million.
Brentwood Associates has closed its sixth fund with $1.2 billion in capital committed.
Wednesday, July 12
Activision Blizzard Inc. launches pro league for Overwatch, Fifth Wall Ventures powers up accelerator program, Hyperloop One completes full system test in Nevada and interior design app Hutch raises $10 million.
Fifth Wall Ventures plans to launch an accelerator program aimed at companies valued under $20 million in the real estate tech space, the firm announced Wednesday.
Hudson Pacific Properties Inc. has signed an agreement with Netflix to occupy more soundstage, office and support space at Hollywood’s Sunset Bronson Studios, the Los Angeles real estate company announced on Wednesday.
Tuesday, July 11
Walt Disney Co. announced Tuesday that e-sports company aXiomatic was one of 11 companies chosen to participate in the 2017 Disney Accelerator program.
Snap Inc. shares tumble after underwriter downgrades stock, UberMedia acquires Cintric for an undisclosed amount, and Disney starts new accelerator class.
Snap Inc., the Venice developer of the Snapchat app, took a pummeling on the stock market on Tuesday, falling nearly 9 percent to close at $15.47 a share.
IOC Votes to Award 2024 and 2028 Summer Olympic Games Simultaneously; Paris and Los Angeles Set to Host
The International Olympic Committee on Tuesday voted unanimously to award the 2024 and 2028 Summer Olympic Games simultaneously, with Paris and Los Angeles as the hosts.
Monday, July 10
Billionaire biotech magnate Patrick Soon-Shiong is set to open an oncology clinic in El Segundo on July 11 as part of a push into the health care provider space.
Prominent L.A. commercial real estate developer David Wilstein, founder of Realtech Construction Co., died Sunday at age 89, executives at the company announced Monday.
Asian goods e-tailer Yamibuy raises $10 million, Snap Inc. slips below IPO price, and Faraday Future scales back Las Vegas factory plans amid cash crunch.
Asian goods e-tailer Yamibuy has raised a $10 million Series A round led by GGV Capital of Beijing, according to a Monday press release.
Friday, July 7
Silicon Beach Report July 7: Clearlake Capital Sells Software Firms to Centerbridge Partners for $1.26 Billion
Clearlake Capital sells software firms to Centerbridge Partners for $1.26 billion, SpaceX and ULA asked to bid on five launches by U.S. Air Force, and VP Pence is bullish on SpaceX.
Differential Brands Group Inc. was this week’s biggest mover, gaining 5.26 percent to end at $2.00. Software company Simulations Plus was also among this week’s biggest movers. The simulation software company rose 4.86 percent to end at $12.95. Sherman Oaks-based apparel and footwear company Cherokee Inc. was this week’s biggest loser, dropping 28.78 percent to end at $4.95.
California exporters saw a modest gain in May according to the latest U.S. Census Bureau data.
HOSPITALITY: Proposal for Long Beach links OT wages to square footage cleaned.
Two labor groups are pushing for the Long Beach City Council to adopt a “bill of rights” for hotel workers that would include limits on the square footage housekeepers can clean in a day.
The Olympics will likely be coming to L.A. in either 2024 or 2028 – but that’s a long time away from a planning perspective.
TRANSPORTATION: Bid for games may speed projects.
Local contractors hope to get moving on projects fast-tracked for the Olympics.
Los Angeles has advantages that could help it be reborn as a life-sciences hub, according to Dina Lozofsky and Bill Allen.
TRANSPORTATION: Budget for Tesloop banks on driving fleet to 1 million-mile mark.
Long-haul commuting is better in a Tesla.
Not all Santa Monica Promenade landlords have been sold on plans to improve the tenant mix.
DINING: Blaze remains hot with franchisees as chain maintains rapid expansion.
Fast-casual chain Blaze Pizza is still bringing the heat through its expansion plans.
Council panel works to codify rules on digital signs for L.A. businesses.
Los Angeles looks at framing new rules for digital store signage and billboards.
CONSTRUCTION: Spike in revenue, completed projects boosts KB Home earnings.
Westwood-based national homebuilder KB Home reported positive second-quarter earnings last week, spurred by an increase in revenue and completed projects, according to a June 27 filing with the Securities and Exchange Commission.
TECHNOLOGY: Software behind bitcoin draws backers.
Some investors and businesses are putting their money on bitcoin’s blockchain system.
July calendar of events.
RETAIL: Adidas’ sign sets off locals’ fear of big chains ruining Venice’s funky vibe.
Venice’s Abbot Kinney Boulevard is famous for the assortment of unique boutiques and eateries lining its eight blocks.
INVESTMENT: Firm bundles software businesses, retains ‘meaningful’ stake in entity.
Santa Monica-based Clearlake Capital Group pulled in a big chunk of cash last week, getting $1.26 billion from Centerbridge Partners for a package of software companies rolled up by the private equity shop over the past two years.
EMPLOYMENT: Top spot returns to Korn Ferry as sector faces growth issues.
Korn Ferry found its way back to the top of the executive search firm list after a strong 2016.
L.A city officials are inching forward with rules that could allow digital billboards to be lit again after being kept dark for years.
SHIPPING: Swedish fund pays $817 million for L.A. terminal; plans upgrades.
Swedish investment fund drops anchor at Port of Los Angeles with $817 million terminal deal.
REAL ESTATE: Blackstone Group pays $97 million for two neighboring properties.
Blackstone Group pays $97 million to double up on LAX-area hotels.
Manatt Phelps & Phillips Partner George Kieffer will help guide system as chairman of board.
Manatt Phelps & Phillips Partner George Kieffer will chair the UC Board of Regents.
Digital Domain expands presence in market with planned studio in Beijing, new local executive hire.
Visual effects firm Digital Domain reframes its China plans with a new studio and exec.
Choura looks to cover additional events with acquisition of most of Classic Party Rentals’ inventory.
Choura looks to raise the stakes of its rental business with the pickup of a rival’s tents.
Before the Wilshire Grand there was Robert F. Maguire, who gave downtown a skyline with the US Bank Tower, Gas Co. Tower and Wells Fargo Center.
SPORTS: Players shrug at push to form pro association.
Efforts to button up video-game competitors into a pro union have been mostly ignored by players.
Thursday, July 6
Santa Monica’s Clearlake Capital Group has combined two of its portfolio companies – Syncsort Inc. and Vision Solutions Inc. – and sold the combined entity to New York’s Centerbridge Partners for $1.26 billion.
Snap Inc. and competitors bidding for World Cup video rights from Fox, Miso Robotics raises $3.1 million, and SpaceX launches 10th rocket this year.
Around 600 former American Apparel workers who were laid off this year will receive new job skills training thanks to a $3 million California Employment Development Department award announced Thursday.
Wednesday, July 5
Paul Matt, the co-founder and chairman of downtown-based Matt Construction that built major L.A. projects including the Broad museum and Waldorf-Astoria Hotel, died on Friday. He was 85.
Playa Vista visual effects company Digital Domain plans to expand its footprint in China with a new studio in Beijing. The firm also has offices in Shanghai and Hong Kong, as well as in Vancouver, British Columbia; Portland, Ore.; New York and London.
Westlake Village’s Sienna Biopharmaceuticals Inc. filed for a $74.8 million initial public offering on Monday, according to a filing with the Securities and Exchange Commission.
Snapchat lets users add links to web content, SpaceX launch scrapped twice but scheduled for attempt tonight, and Virgin Galactic aims for commercial flights in 2018, and more.
Patrick Soon-Shiong’s Culver City-based NantWorks has acquired a majority stake in Integrity Healthcare, which manages Verity Health System, adding six hospitals in California to its operation.
George Kieffer, a partner at West L.A.’s Manatt, Phelps & Philips, was elected on Wednesday to serve as chair of the University of California’s Board of Regents for a one year term, making him one of the most powerful education officials in the state.
Premium denim-maker True Religion Apparel Inc. filed for Chapter 11 bankruptcy protection Wednesday in U.S. Bankruptcy Court in Delaware.
The Los Angeles Times has no immediate plans to relocate operations after its historic downtown headquarters was sold nine months ago, despite media reports to the contrary, a spokeswoman for the newspaper said.
Monday, July 3
A pair of hotels in El Segundo near Los Angeles International Airport sold last month to New York’s Blackstone Group for nearly $97 million, public records show.
Tesloop ride sharing service expands, SpaceX’s Dragon capsule lands on Earth with animals and space station equipment, and Headspace raises $36.7 million.
A Swedish investment fund has agreed to acquire the third-largest terminal at L.A.-area ports from French shipping line CMA CGM for $817 million in cash, with plans to invest in equipment and technology upgrades.
Long-haul commuting is better in a Tesla. That’s the theory behind Tesloop of Culver City, a car service which ferries passengers on highway trips between 50 miles and 200 miles around Southern California in Tesla Inc.’s Model X or Model S cars.