Stories for February 2018

Wednesday, February 28

Caltech, USC Move Up in World University Ranking; UCLA Slips

The California Institute of Technology and USC moved up in an annual ranking of universities around the world released Feb. 28, while UCLA fell a couple notches.

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El Monte Mobile Home Park Sells for $72.5M

Irvine-based Shopoff Realty Investments has sold Brookside Mobile Home Park at 12700 Elliott Ave. in El Monte, comprised of 421 mobile home sites set on more than 45 acres, for $72.5 million, a 38 percent gain on its investment.

Silicon Beach Report Feb. 28: Snap Putting More Than Half of Office Space in Venice Up for Lease

Snap putting more than half of office space in Venice up for lease; data visualization startup Virtualitics raises $7 million; and Overwatch League hires former WME-IMG VP of Licensing.

LAX Passenger Traffic Up Nearly 4 Percent in January

Passenger counts at Los Angeles International Airport rose 3.8 percent in January to nearly 6.7 million, airport officials announced Feb. 28.

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Jack Sinclair Named Chief Executive of 99 Cents Only Stores

Jack Sinclair was promoted to chief executive of 99 Cents Only Stores, replacing Geoffrey Covert, who is retiring, the Commerce-based company recently announced.

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New Survey: Disneyland Employees Report Low-Pay Hardships

Disneyland may be the Happiest Place on Earth for visitors, but low wages have caused homelessness, hunger and financial woes for its employees, according to a report released on Feb. 28.

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Women's Summit 2017 Nominees: How a Business Can Benefit From a Short-Term Line of Credit

Custom Content by the Los Angeles Business Journal

As critical sources of capital, short-term lines of credit can be a cost-effective way for a business to obtain the funds it needs, when it needs them, and can provide companies a route to leverage opportunities for growth.

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Women's Summit 2017 Nominees: A Tradition of Excellence, Innovation, and Diversity

Custom Content by the Los Angeles Business Journal

The Pepperdine University Graduate School of Education and Psychology (GSEP) is an innovative learning community where faculty, staff, and students of diverse cultures and perspectives work collaboratively to foster academic excellence, social purpose, and personal fulfillment.

Women's Summit 2017 Nominees: Swimwear Brand Designer/Founder Gives Back to the Ocean

Custom Content by the Los Angeles Business Journal

Timeless style isn’t the only forward-looking thing about Jessica Rey Swimwear.

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Women's Summit 2017 Nominees: Women Professionals Thriving in the Workplace

Custom Content by the Los Angeles Business Journal

Every day is a chance to #BeMore.

Women's Summit 2017 Nominees: A Gift for USC Marshall Women MBAs

Custom Content by the Los Angeles Business Journal

USC Marshall alumna endows scholarship fund for women MBAs 30 and over

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Women's Summit 2017 Nominees: Want More Leaders? We Need More Girl Scouts.

Custom Content by the Los Angeles Business Journal

Some call it a best-kept secret in leadership recruitment; others call it a business incubator with a 105-year track record.

Women's Summit 2017 Nominees: Why Can’t Women Jump?

Custom Content by the Los Angeles Business Journal

Twenty years ago, the movie “White Men Can’t Jump” was released, and it remains so popular that a remake is reportedly in the works.

Women's Summit 2017 Nominees: Expanding Opportunities for Women and Business

Custom Content by the Los Angeles Business Journal

What type of American businesses combined exceed the gross domestic product (GDP) of Brazil, Canada and South Korea — or the combined market capitalization of Apple, Microsoft, GE, Google and Sony?

Women's Summit 2017 Nominees: All CEOs Are Driven – The Good Ones Know Where They’re Going

Custom Content by the Los Angeles Business Journal

When I came to the United States from the Philippines as a 25 year-old, I had a journalism degree and virtually nothing else.

Tuesday, February 27

Comcast's Sky Bid Could Disrupt Fox-Disney Deal

Comcast Corp. has offered $31 billion to acquire a British satellite TV network in a deal that could disrupt 21st Century Fox’s plan to sell its stake in venture to Burbank-based Walt Disney Co.

Butterfly Equity Acquires Denver Restaurant Chain Modern Market

Butterfly Equity, a Beverly Hills private equity firm with a focus on food companies, acquired a Denver-based healthy food chain for an undisclosed amount, the company announced on Feb. 27.

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Women's Summit 2017 Nominees: Wedding Season is Also Prenup Season

Custom Content by the Los Angeles Business Journal

As the summer-into-fall wedding season approaches, so does “prenup season.”

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Platinum Equity to Pay $520M for Pennsylvania Power Plant

Los Angeles private equity firm Platinum Equity announced Feb. 27 that it has agreed to pay $520 million to buy a Gettysburg, Penn. power plant and related assets out of bankruptcy.

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Silicon Beach Report Feb. 27: Amazon to Acquire Ring for Estimated $1 Billion

Amazon to acquire Ring for estimated $1 billion; Sprint plans for 5G network in Los Angeles; and Amp.it to participate in Google Demo Day.

Amazon to Acquire Ring for Estimated $1 Billion

In a deal expected to be worth at least $1 billion, Amazon will acquire Ring, a Santa Monica-based startup that makes security cameras and doorbells operated through smartphones.

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Gov. Brown Appoints Seven Judges to L.A. County Superior Court

Gov. Jerry Brown on Feb. 27 named seven judges to the Los Angeles County Superior Court, including two attorneys from local law firms.

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Disney Celebrates “Black Panther” With $1 Million Youth STEM Gift

Walt Disney Co. is celebrating the box office success of Marvel Studios’ “Black Panther” by donating $1 million to the Boys & Girls Clubs of America (BGCA) for youth STEM (Science, Technology, Engineering and Math) programs, the company announced on Feb. 27.

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City National Bank to Expand to Washington D.C.

City National Bank, a Los Angeles-based private bank and subsidiary of the Royal Bank of Canada, has announced plans to add a banking center in Washington, D.C.

Monday, February 26

CVB Financial to Buy Pasadena’s Community Bank for $878M

Ontario-based CVB Financial Corp. has agreed to buy Pasadena-based Community Bank for $878 million in cash and stock, the two bank institutions announced Feb. 26.

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Hollywood Restaurant Cited for Wage Theft Violations

The Shrimp Lover #1 Inc., a seafood restaurant in Hollywood, has been fined almost $520,000 in wage theft violations by the state’s Labor Commissioner’s office.

CFO Awards 2017 Nominees: Survey Reveals that CFOs Remain Optimistic – Business Focus on Offense Over Defense

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Deloitte’s CFO Signals survey for the second quarter of this year (2Q 2017) reveals chief financial officers representing many of North America’s largest and most influential companies continue to be optimistic about the current and future states of major economic regions as well as their own-company prospects.

CFO Awards 2017 Nominees: AchieveNext and The CFO Alliance Announce Strategic Partnership with Risk Cooperative and Ridge Global

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Partnership introduces risk advisory and risk management services to support corporate excellence

CFO Awards 2017 Nominees: An Innovative Way to Save Money and Improve the Bottom Line

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For over a decade, developers and builders have been working hard to make buildings more energy efficient.

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CFO Awards 2017 Nominees: How the Right Financial Partner Can Help You Sleep at Night

Custom Content by the Los Angeles Business Journal

Like most executives, you are probably tireless in the pursuit of perfection when it comes to managing the complexities of your business.

First Choice Bank to Acquire Parent of Pacific Commerce Bank for $110.4M

First Choice Bancorp of Cerritos, the holding company for First Choice Bank, will acquire the parent company of Pacific Commerce Bank for roughly $110.4 million in stock, the companies announced Feb. 26.

Silicon Beach Report Feb. 26: Hollar Announces Search for New CEO

Hollar announces search for new CEO; Snapchat to give free ads to startups; and Hyperloop Transportation Technologies raises $1.2 million to study Cleveland-Chicago route.

CFO Awards 2017 Nominees: The Role of Cognitive Diversity in Decision-Making

Custom Content by the Los Angeles Business Journal

A CEO’s primary responsibility is to make the best decisions for a company and its stakeholders.

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CFO Awards 2017 Nominees: Regaining Control of Healthcare Costs

Custom Content by the Los Angeles Business Journal

As healthcare costs continue their upward trend, CFOs are desperately seeking innovative strategies to curb premium rates and regain control over their benefits expenses.

Marlin Equity Partners Acquires AddStructure, Merges It with Bazaarvoice

Private equity firm Marlin Equity Partners announced on Feb. 23 that it acquired AddStructure Inc., a developer of search and discovery applications for e-commerce companies, for an undisclosed amount.

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CFO Awards 2017 Nominees: The CFO’s Guide to Broker Selection

Custom Content by the Los Angeles Business Journal

One of the most important responsibilities of any CFO is selecting the right partners to support the needs of a growing business.

Westside Retail Property Sells for $17.5M

The Triangle Center retail property has been sold for the first time in more than 50 years – this time for $17.5 million, or about $360 per square foot in land value – to Vancouver-based Bastion Development Corp., CBRE Group Inc. said.

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CFO Awards 2017 Nominees: Compensation Steady for Senior Financial Executives

Custom Content by the Los Angeles Business Journal

Senior-level financial executives at public and private companies alike reported consistent trends in the levels and sources of their compensation in 2016, with average salary increases of 4.1 percent, up from 4.0 percent last year.

CFO Awards 2017 Nominees: Get Ready for the New Rev Rec Rules

Custom Content by the Los Angeles Business Journal

Are you ready for the new revenue recognition standard to go live?

CFO Awards 2017 Nominees: PropTech - Is 2017 the Year things Change for the Property Industry?

Custom Content by the Los Angeles Business Journal

Technology has been a disruptive force in most industries and sectors over recent years.

CFO Awards 2017 Nominees: The Role of the Modern CFO

Custom Content by the Los Angeles Business Journal

In a changing economic and competitive landscape with varying industries that Southern California can claim, the role of the CFO is changing, and changing quickly.

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Trailer Park Agency Expands Hollywood Office Space

Entertainment marketing agency Trailer Park again has expanded its Hollywood foothold, announcing a lease for nearly 103,000 square feet of office space at 6922 Hollywood Blvd, property owner Hudson Pacific Properties Inc. announced.

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Weinstein Co. Moves Closer to Bankruptcy After Sale Talks Fail

The Weinstein Co. is expected to file bankruptcy after talks with a potential buyer broke down, according to media reports.

Friday, February 23

Tri-Cities: Hot Office Market

Big names, deals; entertainment as driver

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Drug Maker to Boost Production

Spanish biotech giant Grifols S.A. grows its L.A. outpost with help from local universities.

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Los Angeles Developer Charged with Illegal Campaign Donor Scheme

A Los Angeles developer was charged Friday with illegally funneling tens of thousands of dollars to eight local politicians while trying to obtain a zone change in order to build a $72 million apartment building in Harbor Gateway.

Silicon Beach Report Feb. 23: Snap’s Spiegel Earned $638 Million Last Year

Snap’s Spiegel earned $638 million last year; LAist’s assets bought by KPCC; and L.A. movie theaters could have LED screens by April.

Affordable Homes Elude Even High Earners

L.A. tech workers face heavy mortgage costs for properties close to offices

Report: L.A. housing costs take hefty chunks out of Silicon Beach engineers’ hefty salaries.

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Last-Mile Providers Take Different Routes

Bird Rides takes hit on regs in Santa Monica; Ofo develops local partnerships

Two tech startups bet on bikes and scooters for last-mile commuting.

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Glendale Bank Purchased for $44 Million

Bank of SoCal to add Americas United’s $235 million in assets

Bank of Southern California expands into L.A. market with $44 million Americas United Bank pick up.

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Area Airports Double National Growth Rate

Four combine for 98M passengers; Long Beach Airport up 33 percent.

L.A. County’s four commercial airports are poised to exceed the 100 million-traveler mark.

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Lots of Action, Ranks Unchanged for Top Venues

Top 50 range from arenas to more intimate settings; Pauley, Galen added

A strong economy and the ongoing need for many musical artists to generate tour revenue make for an embarrassment of riches for local music lovers – served up thanks to a trove of venues that can handle concerts and other performing arts fare.

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Rent Hikes Move to Suburbs

Trend of increases holds up countywide, gains steam on periphery

Taking a look at the L.A. area’s highest- and lowest-rent neighborhoods.

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Bad News-Good News Well Done by LAEDC

It was a fascinating morning of good news-bad news propositions at the Los Angeles County Economic Development Corp.’s 2018 Economic Forecast at the Omni Hotel, which drew a crowd of 500 or so to Bunker Hill on the morning of Feb. 21.

DroneBase Nets $12M in VC Funds, Expands Augmented Reality Feature

Online drone services firm begins testing AR.

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Wages Up Amid Slower Job Growth

Economists say modest job growth expected this year and next

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Local Venues Help Revive Music Industry

L.A.’s music scene is bolstered by venues ranging from small theaters to huge arenas.

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Pasadena’s New Profile

Longtime center for academics, aerospace R&D stakes claim on startups

Academia, Fortune 500 companies and tech, aerospace, biotech and engineering businesses mix in Pasadena.

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WWE Brings Rare Bright Spot for Mattel

Company extends deal for STEM-related toys on heels of dismal holiday, Q4

Mattel is banking on WWE action figures and STEM-themed educational toys.

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Film as Weapon of Mass Construction

Sundance 2018 confirmed what I already knew to be true, sending a resounding message that story, art and film are our greatest weapons of mass construction.

New Billionaire for L.A.; New Scale for Thiel

There have been a lot of quips about Peter Thiel decamping from Silicon Valley for Los Angeles.

STYLE | On the Move

Jennifer Ferro - KCRW-FM (89.9)

Public radio station KCRW-FM (89.9) on the Santa Monica College campus contains just about everything but the kitchen sink.

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Conventions

Upcoming conventions

Calendar

Calendar of Events

CFO Awards 2017 Nominees: Sustainability is this CFO’s Secret Ingredient

Custom Content by the Los Angeles Business Journal

Tender Greens is a chef-led kitchen serving seasonal and responsibly-sourced food that’s the kind of comfort food chefs love to cook for themselves and their families for far less than you’d expect.

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Custom Content: Millennial Women Look to Education to Boost Career

Los Angeles Business Journal

Working millennial women in the U.S. are significantly less confident about their potential career success than millennial men, according to a study from the Pepperdine Graziadio Business School. To combat their concerns about their career prospects, millennial women (18-34) place their trust in education as the main driver for their upward career mobility.

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Herbalife Reports $63M Q4 Loss, Increase in Global Sales

Shares of Herbalife Ltd. ratcheted up nearly 3 percent on Feb. 23, a day after the Los Angeles-based global health nutrition company posted a fourth quarter loss of more than $63 million

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LAist to Return Under New Ownership

Local news website LAist, which has been shut down for about four months, will be revived under a new owner.

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CFO Awards 2017 Nominees

Custom Content by the Los Angeles Business Journal

Brett Abbey mOcean Stewart Armstrong Oblong Industries Charlie Borsheim Keslow Camera Kellee Breen Women of Global Change

Thursday, February 22

Ontario Airport Passenger Traffic Jumped 11 Percent in January

Passenger traffic at Ontario International Airport rose 10.6 percent in January, while air cargo volume jumped 22 percent, airport officials reported Feb. 22

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Kite Will Pay up to $3 Billion for Experimental Cancer Therapy

Kite, a biotech firm based in Santa Monica, has paid $150 million to Richmond-based Sangamo Therapeutics Inc. to develop a gene-editing therapy to treat cancer, the companies announced Feb. 22. The deal could be worth up to $3 billion.

Caltius Equity Partners Sells Vision Technology Solutions

Caltius Equity Partners announced on Feb. 22 the sale of its portfolio company Vision Technology Solutions, a website developer for government organizations in the U.S. and Canada, to cloud-based software developer Granicus for an undisclosed amount.

Harbor Trucking Association and Clean Energy Fuels Partner Up

Clean Energy Fuels Corp. is now the exclusive provider of cleaner fuels for Harbor Trucking Association’s 100-member trucking companies, the organizations announced on Feb. 21.

Who's Brokering Los Angeles (June 26): Realtors Have a Positive Outlook for Commercial Markets

Custom Content by the Los Angeles Business Journal

While challenges face commercial real estate markets, realtors specializing in the sector should have confidence that growth will continue.

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Silicon Beach Report Feb 22: Kylie Jenner’s Tweet Cuts $1.3 Billion of Snap's Market Value

Kylie Jenner’s tweet cuts $1.3 billion off Snap's market value; investment fund Vision Esports raises $38 million; and SpaceX successfully launches, but narrowly misses catching $6 million nose cone.

UCLA’s Hammer Renovation Receives $30M Gift from Resnicks

The Hammer Museum at UCLA in Westwood announced today that it had received a $30 million gift from the Wonderful Co. owners Stewart and Lynda Resnick as part of a larger $180 million fundraising campaign for a renovation begun last year.

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Investment Fund Vision Esports Raises $38 Million

Investment fund Vision Esports announced on Feb. 22 that it raised $38 million in a round led by Evolution Media, the investment firm backed by Creative Artists Agency and private equity fund TPG Growth.

Wednesday, February 21

L.A. City Council Announces Homeless Housing Commitment

In a bid to tackle homelessness, the Los Angeles City Council announced on Feb. 21 that it had created a city-wide initiative to create a minimum of 3,300 supportive housing units.

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Tom Gilmore Named New Board Chair for CCA

Downtown developer Tom Gilmore has been named new board chair for the Central City Association, the downtown business group announced Feb. 21.

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Silicon Beach Report Feb. 21: Snapchat Promises Update After Users Balk at Redesign

Snapchat promises update after users balk at redesign; Elon Musk leaves AI foundation he co-founded; and Port Logistics Group invests in e-commerce startup Whiplash.

Who's Brokering Los Angeles (June 26): David Young and Chad Gahr

Custom Content by the Los Angeles Business Journal

David Young and Chad Gahr are a perennial top producing team at NAI Capital.

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Engineering Firm SENER Names New CEO for U.S. Operations

Spanish engineering firm SENER named Mercedes Sierra as chief executive of its U.S.-based operations on Feb. 20.

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La Mirada Industrial Property Sells for $17.5M

Newport Beach-based real estate investment firm Bixby Land Co. has sold for $17.5 million – or more than $163 per square foot – a 107,000-square-foot industrial property at 16200 Trojan Way in La Mirada, according to CBRE Group Inc.

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DineEquity Announces New Name, Surpasses 4Q Expectations

DineEquity Inc. in Glendale is now Dine Brands Global Inc., the company announced with the release of its full-year and fourth-quarter financial results on Tuesday. The firm reported better-than-expected earnings and revenue for Q4, sending its stock up more than 15 percent to its highest price in a year.

Who's Brokering Los Angeles (June 26): Rob Waller

Custom Content by the Los Angeles Business Journal

CBRE’s team of Rob Waller and Patrick Amos in the last three years have achieved approximately $2.25 billion on 5.5 MSF.

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Who's Brokering Los Angeles (June 26): Robert Stepp

Custom Content by the Los Angeles Business Journal

Stepp Commercial is a leading multifamily brokerage firm in the Los Angeles market with the sale of more than $1 billion in properties since inception in 2013.

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Who's Brokering Los Angeles (June 26): Kevin Shannon

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The Shannon team at NKF Capital Markets, led by Kevin Shannon, focuses on Western Markets and has completed more than 420 transactions valued at $30.6 billion from 2010 to mid-2017.

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Who's Brokering Los Angeles (June 26): Jerry Porter and Matthew Miller

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Team leaders Jerry Porter and Matthew Miller have been partners at Cresa Los Angeles for more than 31 years.

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Who's Brokering Los Angeles (June 26): Jonathan Nikfarjam

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The CBC Advisors’ El Segundo Office has been brokerThe CBC Advisors’ El Segundo Office has been brokering Los Angeles at an accelerated pace.ing Los Angeles at an accelerated pace.

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Who's Brokering Los Angeles (June 26): Carl Muhlstein

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Carl Muhlstein and Hayley Blockley are a complementary team of creative minds. Muhlstein studied journalism and Blockley studied film before entering the commercial real estate sphere.

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Who's Brokering Los Angeles (June 26): Tony Morales

Custom Content by the Los Angeles Business Journal

For eight years, Tony Morales and Maureen Hawley have led a successful partnership due to their complementary personalities, intense work ethic and passion for commercial real estate.

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Who's Brokering Los Angeles (June 26): Brandon Michaels

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The Brandon Michaels Team at Marcus & Millichap has successfully closed over 400 commercial real estate transactions totaling in excess of $1.5B since 2004.

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Who's Brokering Los Angeles (June 26): Peter McWilliams and Mike McCrary

Custom Content by the Los Angeles Business Journal

For 20 years, the trio of Peter McWilliams, Mike McCrary and Ruben Goodsell have been the premier industrial brokerage team in the Inland Empire region of Southern California and are currently JLL’s number one industrial brokerage team in the United States.

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Who's Brokering Los Angeles (June 26): Mike McRoskey

Custom Content by the Los Angeles Business Journal

Brothers John and Mike McRoskey have been in brokerage for more than 30 years, starting their partnership with each other and Frank Scott seventeen years ago.

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Who's Brokering Los Angeles (June 26): John McMillan

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After seven years in the business, team leader John McMillan hired partner Jeff Sanita in 1998 to form The McMillan Team.

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Who's Brokering Los Angeles (June 26): Jay Luchs

Custom Content by the Los Angeles Business Journal

Led by Jay Luchs, Executive Vice President at Newmark Knight Frank, this very active NKF team specializes in the sale and leasing of investment properties, with a focus on representing international retail and fashion brands in finding store locations.

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Who's Brokering Los Angeles (June 26): Darla Longo

Custom Content by the Los Angeles Business Journal

While the CBRE West Coast National Partners’ (NP) fully-integrated approach distinguishes the team from its competition, the success of these investment professionals is due in large part to the team’s laser focus on the industrial sector.

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Who's Brokering Los Angeles (June 26): Jonathan Larsen

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Since joining Avison Young and forming a team, father and son, Jonathan Larsen and Chandler Larsen have completed in excess of $250 million in transactions over the past three years.

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Who's Brokering Los Angeles (June 26): Rudy Lara

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In the extremely tight Los Angeles industrial market, the DAUM Commercial Real Estate Services team lead by Rudy Lara provides experience in multiple submarkets, creating a tremendous competitive edge for its clients.

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Who's Brokering Los Angeles (June 26): Chris Jackson and Todd Lorber

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NAI Capital’s team of Chris Jackson and Todd Lorber have accomplished more than $1 billion in transaction volume since 1997.

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Who's Brokering Los Angeles (June 26): Rooney Daschbach

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In just the last four years, the Cushman & Wakefield team led by Rooney Daschbach and Steve Bohannon has transacted nearly $500 million, 350 deals, and 13.5 million SF.

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Who's Brokering Los Angeles (June 26): Gary Horwitz

Custom Content by the Los Angeles Business Journal

For eight years, Gary Horwitz, Blake Searles and Kamil Agha have been one of the premier office tenant representative teams in the South Bay and West Los Angeles, representing leading companies that include Snap, USC, DirecTV and Guitar Center, with a team transaction volume of approximately $4 billion.

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Who's Brokering Los Angeles (June 26): Steve Bogoyevac

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Steve “Bogie” Bogoyevac of Marcus & Millichap is an apartment and 1031 specialist of the Long Beach, South Bay, Los Angeles, and surrounding areas who has brokered over $440MM of investment real estate across 329 transactions.

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Who's Brokering Los Angeles (June 26): Yair Haimoff

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Yair Haimoff and his team achieved the largest medical lease in 2016 in the San Fernando Valley Business Journal:

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Who's Brokering Los Angeles (June 26): Stephen Bay

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The team led by CBRE Vice Chairmans, Stephen Bay and Clay Hammerstein, are among the most active tenant rep brokerage teams in Los Angeles’ real estate industry.

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Modest Local Job Growth Trend to Continue This Year and Next: Forecast

Los Angeles County is expected to add about 48,000 jobs this year and 34,000 next year, making for a modest growth rate of around 1 percent, according to a forecast to be released Feb. 21 by the Los Angeles County Economic Development Corp.

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Tuesday, February 20

Who's Brokering Los Angeles (June 26): Mike Foley

Custom Content by the Los Angeles Business Journal

Cushman & Wakefield’s team lead by Mike Foley and David Hess have achieved approximately $500 million, 200 deals, and 7 million SF in the last three years, and show no signs of slowing down.

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City Attorney Sentences Woman for Practicing Dentistry Without License

A Pico-Union woman has pleaded no contest to practicing dentistry without a license from her living room, which resulted in a serious injury from a botched root canal, the City Attorney announced Feb. 20.

Silicon Beach Report Feb. 20: Snap CEO Evan Spiegel Sold $50 Million in Stock

Snap CEO Evan Spiegel sold $50 million in stock; NASA certifies Falcon 9 for science missions; and federal judge bars California’s actor-age censorship law.

Who's Brokering Los Angeles (June 26): Tony Azzi

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Marcus & Millichap’s Azzi Advisors team brings to its clients the benefit of more than 30 years of experience in commercial real estate expertise that has been responsible for deals valued at more than $4.7 billion and over 650 transactions.

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Settlement Reached in ADA Suit Against West Hollywood-based Travel Co.

The Justice Department reached a settlement on Feb. 20 with a West Hollywood travel firm that allegedly turned down a request by deaf passengers for sign language interpreters on a cruise to Mexico.

Who's Brokering Los Angeles (June 26): Brian Eisendrath

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Brian Eisendrath and team sourBrian Eisendrath and team source aggressive capital for institutional and high net worth clients.ce aggressive capital for institutional and high net worth clients.

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Who's Brokering Los Angeles (June 26): Jeff Albee and Travis Albee

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SVN’s team is highly regarded for its expertise in commercial real estate.

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Guess’ Paul Marciano Gives up Day-to-Day Duties Amid Sexual Harassment Claims

Downtown-based Guess Inc. announced Feb. 20 that co-founder Paul Marciano had stepped down from his daily duties due to an on-going investigation of sexual harassment claims by model and actress Kate Upton.

Most Influential Women in Accounting: Expectations Rise for Profit and Revenue Growth in Coming Year

Custom Content by the Los Angeles Business Journal

Business executives maintained their generally upbeat view of prospects for the U.S. economy, and have upgraded expectations for profit and revenue growth over the next 12 months, according to the third-quarter AICPA Economic Outlook Survey, which polls chief executive officers, chief financial officers, controllers and other certified public accountants in U.S. companies who hold executive and senior management accounting roles.

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Most Influential Women in Accounting: New Exam Available to Obtain New Fair Value Measurement Credential

Custom Content by the Los Angeles Business Journal

The exam for the Certified in Entity and Intangible Valuations (CEIV) credential for fair value measurement is now available.

Most Influential Women in Accounting: NIKKA YOCHIM

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Nikka Yochim is a Tax Director in Marcum LLP’s Los Angeles office.

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Most Influential Women in Accounting: MICHELLE WROAN

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Michelle Wroan is an audit partner in KPMG’s Technology and Media practice based in the Los Angeles office serving public and nonpublic clients.

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Most Influential Women in Accounting: DARCY WILSON-JONES

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Darcy Wilson-Jones is an assurance partner in the RSM US Southern California practice.

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Most Influential Women in Accounting: DONELLA WILSON

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Donella Wilson is a partner leading Green Hasson Janks’ Nonprofit Practice.

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Most Influential Women in Accounting: APRIL SPENCER

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As the West Global Compliance and Reporting Tax Leader at EY, April Spencer has more than two decades of experience serving some of the most recognizable brands in the media and entertainment, distribution and technology industries.

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Most Influential Women in Accounting: JUSTINE RUFFALO

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Justine Ruffalo is a partner at Miller Kaplan Arase LLP in Los Angeles and has more than 17 years of experience.

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Most Influential Women in Accounting: LORI ROCK

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Lori Rock is a Tax Partner in Marcum LLP’s Los Angeles office.

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Most Influential Women in Accounting: KALPANA RAMAKRISHNAN

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Kalpana Ramakrishnan is a partner in the Advisory practice of KPMG with over 20 years of business consulting experience, and the Leader of KPMG’s Management Consulting practice on the West Coast.

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Most Influential Women in Accounting: KELLY O’NEIL

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Kelly O’Neil is a Managing Director at CBIZ MHM, LLC.

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Most Influential Women in Accounting: WENDY ON

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Wendy On has over 12 years of experience serving clients in the consumer products, real estate, manufacturing, biotech, technology and entertainment industries.

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Most Influential Women in Accounting: PATRICIA O’CONNELL

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Patty O’Connell has been a part of HCVT’s growth and success from the beginning, as she is “employee number ten.

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Most Influential Women in Accounting: TAMMY MCGUINNESS

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Tammy McGuinness is a Tax Partner in the Los Angeles office of KPMG.

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Most Influential Women in Accounting: TES MACARAYA

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Tes Macaraya is a tax partner at Martini, Iosue & Akpovi and has over 25 years of experience providing tax planning and compliance services for partnerships, high net worth individuals and corporations primarily in the real estate industry.

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Most Influential Women in Accounting: JOANNA LI

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Joanna Li is a Tax Partner at Squar Milner LLP.

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Most Influential Women in Accounting: MICHELLE KERRICK

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Michelle Kerrick leads Deloitte’s Los Angeles practice, one of the largest professional services firm in the area, with more than 1,600 audit, tax, and consulting and financial advisory service professionals.

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Monday, February 19

Most Influential Women in Accounting: DONITA JOSEPH

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Donita Joseph joined Windes in 1989 and is a partner in the firm’s Tax and Accounting Services Department, where she heads the firm’s Estate & Trust Practice, and is the lead tax partner for the firm’s Nonprofit Practice.

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Silicon Beach Report Feb. 19: Elon Musk Gets Preliminary Permit for Hyperloop Tunnel in DC

Elon Musk gets preliminary permit for tunnel in DC; Air Force and Aerojet Rocketdyne renegotiating AR1 development agreement; and IdeaLab’s 3-D printer company New Matter shutting down.

Most Influential Women in Accounting: KAREN JONG

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Karen Jong is a Tax Partner in the Los Angeles office of RSM US.

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Most Influential Women in Accounting: ELIZABETH HUGH

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With over 20 years experience in the industry, Elizabeth Hugh serves as the COO of KROST’s CPA and tax consulting companies, totaling more than 140 full-time and part-time employees, as well as a team of interns.

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Most Influential Women in Accounting: GEORGINA HARRIS

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Georgina Harris is a senior manager in CohnReznick’s audit practice and a member of the Firm’s Not-for-Profit and Education Industry Practice.

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Most Influential Women in Accounting: MELISSA HARMAN

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As a Moss Adams leader, Melissa Harman believes you must be passionate and committed to your own core values, and she endeavors to teach those values to the professionals and teams she leads.

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Most Influential Women in Accounting: LYN DESANTIS

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Lyn DeSantis is a partner with Pricewaterhouse-Coopers (PwC) in Los Angeles.

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Jakks Pacific Adds Harry Potter Tech Wands

Jakks Pacific Inc. will launch a collection of “technologically advanced and interactive” magic wands based on the “Harry Potter” films thanks to a partnership between the toymaker and Warner Brothers.

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Most Influential Women in Accounting: SUZANNE DEJONG

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Suzanne DeJong is EY’s Southern California Advisory Leader and has more than two decades of experience serving some of the most prominent, innovative automotive and technology companies in Los Angeles and around the world.

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Most Influential Women in Accounting: POLINA CHAPIRO

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Polina Chapiro has been the partner in charge of the Green Hasson Janks tax practice for over ten years.

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Most Influential Women in Accounting: CHERYL CALHOUN

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A Managing Director in the CBIZ MHM Los Angeles office, Cheryl Calhoun brings over 30 years of experience and expertise to all facets of the entertainment industry, with a particular emphasis in film and television.

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Sole Source Capital Buys Stake in Oil Equipment Supply Co.

Santa Monica private equity firm Sole Source Capital announced Feb. 16 it has purchased a majority interest in Premier Flow Control, an Odessa, Texas-based oil equipment supply company.

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Most Influential Women in Accounting: LA Remains a Leader for Women in Accounting

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Los Angeles is truly a national leader when it comes to influential women in business – and the field of accounting is no exception.

Leaders in Law 2017 Nominees: GENERAL COUNSEL

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Eric Alderete Molina Healthcare Marvin Ammori Hyperloop One June M. Baldwin KCETLink Media Group

Leaders in Law 2017 Nominees: ATTORNEYS

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Manny A. Abascal Latham & Watkins Joseph Akrotirianakis King & Spalding Mark R. Attwood Jackson Lewis P.C.

Defunct Chinatown Hospital Could be Replaced by 24-Hour Urgent Care

The shuttered Pacific Alliance Medical Center in Chinatown could be replaced by a 24-hour urgent care center, according to a recent bid to buy the site.

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Leaders in Law 2017 Nominees: An Uncertain Future: Who are the Dreamers?

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On September 5, 2017, the Trump Administration announced the termination of the Deferred Action for Childhood Arrivals (DACA) program.

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Leaders in Law 2017 Nominees: State Bar Submits Report on Bar Exam Passing Score to the California Supreme Court

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The State Bar recently submitted its final report and analysis of the California Bar Exam passing score to the California Supreme Court.

Leaders in Law 2017 Nominees: How Safe Is Our Water Infrastructure from a Cyberattack?

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How safe is our water infrastructure from the next cyberattack?

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Sylmar Construction Firm in Joint Venture for $1.4B East Coast Infrastructure Project

Tutor Perini, Parsons Transportation to Redevelop Newark Airport

A joint venture between civil construction firm Tutor Perini Corp. in Sylmar and Washington, D.C.-based Parsons Transportation Group Inc. has won a $1.4 billion contract for a major redevelopment project at Newark Liberty International Airport in Newark, N.J.

The Number

9.8% Apartment rent increase in Lancaster last year

Why are rents going up in Lancaster? Look at who’s hiring.

Friday, February 16

Online Discounter Hollar Adds InVia ‘Picker’ Robots to Workforce

Online discount store Hollar Inc. recently has deployed 100 “picker robots” to help with automating fulfillment services at its Commerce warehouse.

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H&M Innovation Lab Opens Downtown

The CalEdison Building at 601 W. 5th St. recently signed three new tenants: Digital advertising company TubeScience; furniture dealership Systems Source; and market researcher H&M Innovation Labs, according to building owner Rising Realty Partners.

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Report: E-sports, Social Media Stars Drive Digital Media Job Growth

Employment in the entertainment industry in the Los Angeles Basin grew 19.6 percent from 2006 to 2016, outpacing 4 percent growth across all industries in the area over the same 10-year period, a new report says.

EP Wealth Advisors Continues Roll-Up

Recent deal increases assets by $240 million; more acquisitions in sights

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How Oscar, Pals Pay off for Hometown

Shows as economic drivers

The entertainment industry’s major awards shows bring millions to the home economy.

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Westside Remix: Spuds, Tiger, Flamethrowers

Start in Century City, where Spuds Powell recently laid claim to the No. 1 spot on Barron’s national list of the “Top 100 Independent Wealth Advisors for 2017.”

New Rep for Revision

Beverly Hills’ Famed Coterie of Plastic Surgeons Adds Role as Go-To Fixers on Botched Jobs

Beverly Hills plastic surgery centers are fielding requests for more corrective surgeries.

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15-Acre Pasadena Campus for Sale

A nearly 15-acre parcel of land in a residential area of Pasadena is up for sale.

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More Mismatches on Oscars, Box Office

“The Last Jedi” took in more than 20 percent of Disney’s $2.4 billion box office total last year.

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LB’s ‘Bridge to Everywhere’

The nation’s tallest cable-stayed bridge moves past funding delays, design changes and surprises

Building a $1.3 billion bridge in Long Beach.

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Long Beach Airport Passenger Traffic Up Nearly 7 Percent in January

Airline passenger traffic at Long Beach Airport increased nearly 7 percent in January 2018 compared with the same period in 2017, airport officials announced on Feb. 16.

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Adventist Health to Shift Nearly 1,200 IT and Other Workers to Cerner Corp.

A state report lists nearly 1,200 pending layoffs at Adventist Health hospitals across the state, including hundreds at Adventist Health Glendale and White Memorial Medical Center in Boyle Heights. Only none of the workers will actually lose their jobs, according to the Roseville-based health system.

Silicon Beach Report Feb. 16: Task Management Software Workast Raises $1.85 Million

Task management software Workast raises $1.85 million; Snap CEO Evan Spiegel defends Snapchat redesign; and Air Force moves to buy small rocket launch services.

Panda Express Parent Inks Franchise Deal With Chicken Finger Chain

Rosemead-based Panda Restaurant Group has signed a franchise agreement with Baton Rouge, La.-based Raising Cane’s to open locations of the chicken finger concept in Hawaii and Alaska, according to news reports.

Former Los Angeles Banker Gives $1 Million to City of Hope to Train Docs

A Seattle-based foundation has donated $1 million to City of Hope to train clinicians in meeting the mental, social and spiritual needs of cancer patients.

Conventions

Upcoming conventions

What You Can Do to Fight Human Trafficking

Human trafficking is a $150 billion-a-year industry.

Don’t Be So Square

There’s something billed as “Persian Square” over on the Westside – apparently an attempt to acknowledge the contributions of immigrants from Iran.

STYLE | Artful Adaptability

Rachel Fine | Wallis Annenberg Center for the Performing Arts

Rachel Fine, Wallis Annenberg Center for the Performing Arts

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Calendar

Calendar of Events

Apartment Ramp-Up to Plateau, Brokerage Says

17,000-plus rentals due for completion countywide this year; rent growth to slow

Multi-family development, vacancies on rise.

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Sports Titans: Steve Ballmer

Billionaire’s gritty instincts in line with ‘challenger’ brand

Team owner Steve Ballmer offers insights on the ambitions and operations of the Los Angeles Clippers.

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Hot Market Brings Solid Job Growth at Brokerages

Number of Registered Brokers at Top 25 Up Nearly 5 Percent

Last year was great for stocks – and a solid year of overall employment growth for Los Angeles County’s securities brokerages.

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Keck Aims to Address Brain Surgeon Burnout

Program lets class of 19 new neurosurgery residents pick mentors, assigns backups

Combating brain-surgeon burnout.

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Pizza Concept Tries New Name, Menu Items

Competitors have grown rapidly; Westwood chain to catch up with changes

A fast-casual pizza in Westwood is rebranding.

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Thursday, February 15

Family of City of Hope Dynamo Gives $1 Million to Spur CART Cancer Therapy

The family of an executive who turned City of Hope from a country sanatorium for tuberculosis into a world renowned cancer center has donated $1 million for research in his name.

City of Industry Industrial Property Sells for $51 Million

A Morgan Stanley fund has paid $51 million – or more than $178 a square foot – to purchase a more than 286,000-square-foot industrial property in the City of Industry from a Charles Dunn Equities limited-liability company, according to CoStar Group.

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Adaptive Studios Raises $16.5 Million in Series B Funding

Adaptive Studios Inc, an entertainment studio that creates premium content for emerging and traditional platforms located in Culver City, has raised $16.5 million in Series B funding, the company announced on Feb.15.

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LAX’s $4.5 Billion People Mover Project Begins Approval Process

The Los Angeles World Airports Board of Commissioners on Feb. 15 voted to take the first step toward awarding a $4.5 billion contract to a contractor consortium to design, construct and operate the planned people mover at Los Angeles International Airport.

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Leaders in Law 2017 Nominees: Are You in Compliance with Forthcoming Critical Revisions to California Consumer Product Regulations?

Custom Content by the Los Angeles Business Journal

It is critical for all manufacturers, distributors and retailers selling products into California to evaluate their product lines for compliance determination because on August 30, 2018, new California regulations go into effect that will impact warning requirements for such products.

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Silicon Beach Report Feb. 15: Billionaire Peter Thiel Moving to Los Angeles

Billionaire Peter Thiel moving to Los Angeles; custom packaging company Lumi raises $9 million; and DroneBase raises $12 million.

Kaiser Permanente Gives $3.1M to Encourage Kids’ Healthy Habits

Kaiser Permanente, the largest integrated health system in the U.S., donated $3.1 million to a program to promote healthy habits for kids in Los Angeles and throughout the nation.

Billionaire Peter Thiel Moving to Los Angeles

Billionaire investor Peter Thiel is reportedly moving his residence, as well as his venture capital firm and non-profit, to Los Angeles after expressing frustration with what he sees as Silicon Valley’s overwhelming liberal politics and diminishing opportunities for tech investing.

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SBA Loans Available for those Affected by California’s Recent Natural Disasters

The U.S. Small Business Administration announced on Feb. 13 that it had approved $20 million in loans for Southern California businesses and residents affected by recent mudslides and wildfires.

Leaders in Law 2017 Nominees: L.A. County Bar Association Establishes Independent Juvenile Defender Program

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The Los Angeles County Bar Association (LACBA), one of the largest voluntary metropolitan bar associations in the country, has established the LACBA Independent Juvenile Defender Program (IJDP) in partnership with Los Angeles County to provide legal services to youth charged with crimes in the Los Angeles County juvenile delinquency system.

Harbor Freight Mogul Gives $50M to Cedars-Sinai for Heart Research

The owner of Harbor Freight Tools USA Inc. and his foundation gave $50 million to Cedars-Sinai to advance cardiovascular research and innovation.

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Leaders in Law 2017 Nominees - Jumping Aboard the Blockchain: What Lies Ahead for “Smart Contracts”?

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It is hard to open a newspaper, see tech company ads, or read a professional trade publication lately without encountering references to “blockchain” platforms and applications.

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Leaders in Law: Pepperdine School of Law Responds to Shifting Demands of Legal Industry

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When Paul L. Caron, founder and editor of the widely-regarded TaxProf Blog, commenced his tenure as Dean of Pepperdine University School of Law earlier this year, he faced diminishing demand for JD degrees nationwide and a shifting market for legal professionals.

Leaders in Law Finalists - Attorney Awards: HEALTHCARE ATTORNEYS

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Lowell Brown is a partner and national leader of Arent Fox’s Health Care Practice Group.

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Wednesday, February 14

CalEdison Inks New Tenants TubeScience, Systems Source and H&M Innovation Lab

Digital advertising company TubeScience; furniture dealership Systems Source; and market researcher H&M Innovation Labs, have taken space at The CalEdison Building in downtown Los Angeles.

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Herbalife Sets Up $90 Million Fund to Grow Company in China

Multi-level marketing company Herbalife has set up a $90 million fund to extend the company’s growth in China, the downtown-based company announced on Feb. 12.

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Leaders in Law Finalists - Attorney Awards: ENVIRONMENTAL ATTORNEYS

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James J. Dragna represents energy, aerospace, and manufacturing clients in environmental matters nationwide.

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Leaders in Law Finalists - Attorney Awards: CYBER SECURITY ATTORNEYS

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Widely considered one of the country’s top privacy and data security lawyers, Tanya Forsheit has advised on high-profile matters involving confidential data and other sensitive information for nearly 20 years.

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Leaders in Law Finalists - Attorney Awards: REAL ESTATE ATTORNEYS

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Liz Dubeck focuses her practice on project finance, infrastructure development, public-private partnerships, real estate development, and leasing.

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Leaders in Law Finalists - Attorney Awards: ENTERTAINMENT ATTORNEYS

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As a sports and entertainment attorney, Richard Giller represents high-profile collegiate and professional athletes, including first round MLB and NBA draft picks with an emphasis on loss of value (LOV), disability and workers’ compensation insurance claims.

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Silicon Beach Report Feb. 14: Electric Scooter Sharing Startup Bird Raises $15 Million

Electric scooter sharing startup Bird raises $15 million; Snap to provide analytics to top Snapchat creators; and SpaceX hits two milestones in plan for low-latency satellite broadband.

Electric Scooter Sharing Startup Bird Raises $15 Million

Electric scooter sharing startup Bird announced on Feb. 14 that it raised a $15 million Series A round.

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Auto Brand Genesis Gives $500,000 to J. Paul Getty Museum

Luxury auto brand Genesis has awarded $500,000 to the J. Paul Getty Museum in Brentwood in support of arts education and youth community programs.

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Leaders in Law Finalists - Attorney Awards: LABOR AND EMPLOYMENT ATTORNEYS

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Monisha Coelho is a Partner at the CKR Law LLP, handling a wide variety of business law and real estate matters.

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$31 Million in Fake Perfume Seized at the Ports

The U.S. Customs and Border Protection announced on Feb. 13 that the agency had seized 475,056 bottles of perfume with fake trademarks at the Los Angeles and Long Beach port complexes.

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Online Retailer Hollar Inc. Adds InVia Robots to Its Workforce

City of Commerce-based Hollar Inc., operators of an online discount store, recently announced that it had deployed 100 “picker robots” to help with automating fulfillment services at its warehouse.

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Leaders in Law Finalists - Attorney Awards: INTERNATIONAL ATTORNEYS

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Monisha Coelho is a Partner at the CKR Law LLP, handling a wide variety of business law and real estate matters.

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Leaders in Law Finalists - Attorney Awards: INTELLECTUAL PROPERTY ATTORNEYS

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Michelle Cooke is a partner at Manatt, Phelps & Phillips, LLP, where she co-chairs the firm’s Intellectual Property Group.

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Leaders in Law Finalists - Attorney Awards: CORPORATE ATTORNEYS

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Larry Braun is the former Co-Leader of Sheppard Mullin’s Corporate Practice Group.

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Tuesday, February 13

Leaders in Law Finalists - ATTORNEY AWARDS: LITIGATION ATTORNEYS

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Brian Horne is a Knobbe Martens partner in the Los Angeles office.

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Water’s Edge Office Campus in Playa Vista Sells for $190 Million

Maguire Investments and San Francisco-based DivcoWest have sold the 260,000-square-foot Water’s Edge campus at 5510-5570 Lincoln Blvd. in Playa Vista for $190 million, or more than $656 per square foot, to Wedge Office, a limited liability company, according to CoStar Group Inc.

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Leaders in Law Nominees: ATTORNEY AWARDS

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Congratulations to our 2017 Attorney Nominees

Silicon Beach Report Feb. 13: Leaf Group Raises $23.3 Million in Secondary Offering

Leaf Group raises $23.3 million in secondary offering; online dollar store Hollar contracts with InVia Robotics; and plumbing monitoring company Phyn raises $10 million.

Universal Business Registration Moves Ahead

The Los Angeles County Board of Supervisors on Feb. 13 voted to create a universal business registration program for all of the estimated 15,000 businesses in unincorporated areas.

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Leaf Group Raises $23.3 Million in Secondary Offering

Leaf Group raised $23.3 million in a secondary public offering of its stock on Feb. 12.

Mayor Names First Procurement Officer to Work with Business Vendors

Los Angeles Mayor Eric Garcetti on Feb. 13 tapped New York’s top contracting official Michael Owh to become L.A.’s first chief procurement officer and tasked him with encouraging more small and minority businesses to seek city contracts.

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Monday, February 12

Pepperdine, Venture Alliance Take Aim at Startup Funding

The Pepperdine Graziadio School of Business, in partnership with the Venture Alliance, is launching an initiative to better prepare startups for investment funding.

Fourth-Quarter Results Contribute to Molina Health’s $500M Loss in 2017

Troubled insurance giant Molina Health Care Inc. on Feb. 12 reported a more than $500 million loss last year, with more than half occurring in the fourth quarter.

Torrance’s EP Wealth Advisors Scoops Up Millie Capital Management

EP Wealth Advisors, a wealth management firm in Torrance, has acquired Millie Capital Management for an unknown sum, the company said.

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Leaders in Law Nominees: CORPORATE COUNSEL AWARDS

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congratulations to our 2017 corporate counsel nominees

Leaders in Law Honorees - Attorney Awards: AMY R. FORBES

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Amy R. Forbes has spent her entire legal career at Gibson Dunn and is Co-Partner in Charge of the Los Angeles offices.

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Leaders in Law Honorees - Attorney Awards: DAVID C. EISMAN

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David C. Eisman, global head of Skadden’s Entertainment Group, represents prominent media and entertainment clients on complex U.S. and cross-board transactions impacting the film, television, digital media, mobile gaming and talent agent industries.

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Leaders in Law Honorees - Attorney Awards: RICHARD SIMMONS

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Richard Simmons is a well-known “guru” on California wage and hour law and among the most prolific legal authors and speakers in the state.

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Leaders in Law Honorees - Attorney Awards: DARREN G. GARDNER

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Darren G. Gardner is the Chair of Seyfarth Shaw LLP’s International Practice.

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Leaders in Law Honorees - Attorney Awards: GARY A. MEYER

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Gary A. Meyer is an environmental law specialist who joined Parker Milliken in 1980, becoming a shareholder in 1986.

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Leaders in Law Honorees - Attorney Awards: PAUL ROSEN

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Paul Rosen is a partner in Crowell & Moring’s White Collar & Regulatory Enforcement, Privacy & Cybersecurity, and Government Contracts groups.

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Silicon Beach Report Feb. 12: California Facing Competition for Video Game Industry

California facing competition for video game industry; Snapchat’s new update triggers revolt by teens; and Tony Goncalves hired as CEO of Chernin Group and Otter Media.

Leaders in Law Honorees - Attorney Awards: JOHN B. QUINN

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John B. Quinn founded Quinn Emanuel Urquhart & Sullivan in 1986.

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California Facing Competition for Video Game Industry

California is facing increasing competition from states and national governments for its video game industry, according to a report scheduled to be released on Feb. 13 by the Milken Institute.

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Leaders in Law Honorees - Attorney Awards: MANNY A. ABASCAL

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As a senior litigation and trial partner in the Los Angeles office of Latham & Watkins, Manny Abascal has represented many companies for their most significant litigation matters.

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Packaging Manufacturer Fleetwood-Fibre Acquired

City of Industry packaging producer Fleetwood-Fibre Packaging & Graphics was acquired by Golden West Packaging Group, the companies announced Feb. 12. Terms of the deal were not disclosed.

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Leaders in Law Honorees - Attorney Awards: C.N. FRANKLIN REDDICK III

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With more than 30 years of experience in the area of mergers and acquisitions and corporate finance, Akin Gump corporate partner Frank Reddick is a nationally recognized leader in this field.

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L.A.’s OpenGate Capital to Acquire Jøtul Group

Los Angeles private equity firm OpenGate Capital has agreed to acquire Jøtul Group, a Norway-based manufacturer of stoves and fireplaces, from Ratos AB, according to OpenGate.

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Pacific Premier Bancorp Agrees to Buy L.A.’s Grandpoint Capital in $641.2M Deal

Pacific Premier Bancorp Inc. of Irvine announced it has agreed to acquire L.A.-based Grandpoint Capital Inc., the holding company of Grandpoint Bank, in a deal valued at about $641.2 million.

Leaders in Law Honorees - Attorney Awards: ADAM STREISAND

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Adam Streisand is widely regarded as one of the nation’s top trial attorneys, particularly in high profile litigation involving private wealth disputes, fiduciary litigation, business succession and partnership disputes and litigation involving trusts, estates and conservatorships.

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Leaders in Law Finalists - Corporate Counsel Awards: RISING STAR CORPORATE COUNSEL

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Leandro Palencia has a keen interest in science and technology and his work for Wedbush Securities often touches on these areas.

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Leaders in Law Finalists - Corporate Counsel Awards: NON-PROFIT CORPORATE COUNSEL

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June Baldwin is responsible for overseeing KCETLink’s Legal Department.

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Leaders in Law Finalists - Corporate Counsel Awards: PUBLIC COMPANY CORPORATE COUNSEL

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Jennifer J. Banks serves as a key legal advisor to Alexandria and has cemented her reputation as a trusted partner and mentor within the organization.

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Leaders in Law Finalists - Corporate Counsel Awards: PRIVATE COMPANY CORPORATE COUNSEL

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Andy Dunbar joined Bel Air Investment Advisors LLC in 2015.

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Leaders in Law Honorees - Corporate Counsel Awards: MICHAEL “MICKEY” GREEN

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After graduating from New York University School of Law in 1971, Michael “Mickey” Green, for the remainder of the early 70’s, worked for the U.S. Department of Justice in the Antitrust Division and actually was a contributor to the results of the Watergate Scandal.

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Leaders in Law Honorees - Corporate Counsel Awards: LEILA ROUHI

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Leila Rouhi joined Ring as its first in-house corporate attorney in June 2016, and she was quickly promoted to general counsel in September 2016.

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Leaders in Law Honorees - Corporate Counsel Awards: MARC P. GOODMAN

Custom Content by the Los Angeles Business Journal

Today at Pepperdine, the role of general counsel is as much ambassador, educator, manager, executive, and strategist as it is legal advisor – and yet it is still very much the latter as well.

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Leaders in Law Honorees - Corporate Counsel Awards: LILY YAN HUGHES

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Lily Yan Hughes is Senior Vice President, Chief Legal Officer and Corporate Secretary of Public Storage, a Fortune 500 company with over 2,500 international storage facilities.

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Leaders in Law Honorees - Corporate Counsel Awards: FERNANDA L. SCHMID

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Fernanda Schmid serves as the General Counsel for Cornerstone Research Inc., an expert testimony and economic and financial analysis firm with over 700 employees and eight offices in the U.S. and London.

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Leaders in Law Honorees - Corporate Counsel Awards: CHADWICK HO

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Chadwick Ho is Senior Vice President and General Counsel of Hulu.

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Friday, February 9

Did China Cast a Hero?

Dalian Wanda made big waves in Hollywood nearly a year ago, when it backed away from a $1 billion deal to buy Dick Clark Productions.

Red Cross Chapter Sells Pasadena Mansion

Symphony principal pops conductor, husband pay $7M for 20,000 SF – chapter HQ

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STYLE | ‘Nice, Symbiotic Fit’

Christopher Gavigan I Honest Co.

Christopher Gavigan, a co-founder and chief purpose officer of Jessica Alba’s six-year-old Honest Co., said customers who contact the company, which creates eco-friendly products for babies and the home, might be shocked to receive a callback from Gavigan himself.

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Upload Crafts Coursework for VR, AR Acting

Virtual, augmented realities present new opportunities in world of 3-D entertainment

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OSI: First Shorted, Now Under Investigation

Stock tumbles on disclosure of SEC probe; allegations of bribery in Albania, Mexico

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Professional Programs Measure Up, Merit Support

With Southern California leading creativity and innovation, how do the region’s universities stack up with our competitors in the U.S. and abroad?

Two Commercial Properties in Commerce Sell for $77.6 Million

Century City-based real estate investment firm Magellan Group Inc. has sold two Commerce properties – one an industrial space and the other a self-storage facility – for a total of $77.6 million.

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Little Tokyo Office Building Sells for $18 Million

The Federal Public Defender in downtown is getting a new landlord.

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Silicon Beach Report Feb. 9: Snap Is Trying to Lure Instagram Advertisers by Offering Them Free Ads on Snapchat

Snap is trying to lure Instagram advertisers by offering them free ads on Snapchat; Elon Musk explains why SpaceX prefers clusters of small engines for the Falcon Heavy; and digital media drives entertainment employment growth in Los Angeles

Amazon to Develop Own Delivery Services in L.A.

Seattle-based Amazon Inc. is planning to pilot its own delivery service for businesses in Los Angeles.

Accounting Firms Tally 5.5% Hike in Jobs

SERVICES: Big 4 hold places; moves in middle ranks

Accounting firms bulk up, thanks to a growing economy, M&A activity, technology consulting and the new tax law.

Deals & Dealmakers: Fair Tries Skurt on for Size

Startup grows auto and customer inventory with recent acquisitions

Santa Monica-based flexible car leasing startup Fair, launched by Scott Painter in 2016, continued its flurry of acquisitions last week with the announcement that it bought car rental startup Skurt for an undisclosed amount.

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Nostalgia on Menu

Eateries based on one-time TV, cinema hits on the way

Move over food: movie and TV show themes are the newest trend in restaurants.

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PAGE 3: Price Tag on Times Stuff of Parlor Game

Plenty of headlines and a number big enough to suggest that Patrick Soon-Shiong overpaid, based on recent comps in the market anyway.

ApolloMed to Manage 100,000 Patients at 17 Former Molina Healthcare Clinics

Apollo Medical Holdings Inc., a health care management firm based in Glendale, struck a deal with a newly founded Golden Shore Medical Group to manage 100,000 patients in California, the company announced Feb. 5.

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New HQ, New Culver City Soundstage for Content Studio Stun and Employees

Stun takes its content studio business west to Culver City.

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All-Star Game’s Early Line: $116M

NBA’s All-Star Game shows how to take a sports event to another level.

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Ace of Arts

Boutique hotel’s theater makes guests “feel plugged into the local scene”

Perks offered to guests of the Ace Hotel Downtown Los Angeles go beyond the typical.

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Developer Hopes to Ring New Bell

City of Bell hopes to redevelop its way to a fresh start and a cleaner image.

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$500M Port Plan to State Supreme Court?

TRANSPORTATION: Long Beach may petition

Supporters and those opposing railway giant BNSF’s proposed railyard could make tracks to the state’s Supreme Court.

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Workforce Report Details Rise in Entertainment, Digital Media

Employment in the entertainment industry in the Los Angeles Basin grew 19.6 percent from 2006 to 2016, outpacing 4 percent growth across all industries in the area over the 10-year period, a new report says.

Thursday, February 8

Silicon Beach Report Feb. 8: Online Sneaker Sellers GOAT and Flight Club Merge

Online sneaker sellers GOAT and Flight Club merge; Hulu lost $920 million in 2017; and U.S. military certification the next big test for Falcon Heavy.

CUSTOM CONTENT: Manufacturers can stay competitive with more strategic IT planning

Trusted Advisors

It is a common scenario… A manufacturer’s legacy accounting and business management system is essentially a series of independent spreadsheets, which are difficult to maintain and often accurate for only one or two weeks.

L.A. County Hotel Sales Hits Record High of $1.67 Billion

The total value of sales of Los Angeles County hotels hit a record of $1.67 billion last year, according to a new report from Irvine hotel brokerage Atlas Hospitality.

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CUSTOM CONTENT: RSM Manufacturing Monitor Survey Results

Trusted Advisors

Overall, the outlook for the manufacturing industry is largely positive, according to the 2017 RSM Manufacturing Monitor.

CUSTOM CONTENT: Tax Reform Highlights

Trusted Advisors

On December 22, 2017, President Trump signed the “Tax Cuts and Jobs Act” (“The Act”) into law.

CUSTOM CONTENT: Four Tax Issues Driven by Organic Growth

Trusted Advisors

1 – LOCATION, LOCATION, LOCATION Success often means pursuing growth outside your original operational footprint.

Ares Management, CRC Team Up for Power Plant Joint Venture

California Resources Corp. has entered into a joint venture with a portfolio company of Los Angeles-based investment firm Ares Management to own the Elk Hills power plant near Bakersfield.

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CUSTOM CONTENT: What Does Trusted Advisor Really Mean?

Trusted Advisors

Often, the term “trusted advisor” is used in the business world.

Wednesday, February 7

CUSTOM CONTENT: Recourse vs. Nonrecourse Commercial Real Estate Financing

Trusted Advisors

Generally, all income-producing properties, excluding unimproved land, are considered commercial real estate (CRE).

CUSTOM CONTENT: Managing with Decreased Profit Margins

Trusted Advisors

Many business owners face challenges to keep profit margins positive and cash flows in balance.

Silicon Beach Report Feb. 7: Snapchat to Broadcast Live NBC’s Olympics Coverage

Snapchat to broadcast live NBC’s Olympics Coverage; ZipRecruiter fundraising at nearly $1 billion valuation; and Tesla semi-truck rival Thor demonstrates vehicle.

CUSTOM CONTENT: Holistic Wealth Management Offers Comprehensive Guidance for Busy Executives

Trusted Advisors

Successful executives have mastered the art of surrounding themselves with trusted advisors.

L.A. Man Indicted in International Cyberfraud Ring

Dozens of criminal charges have been filed following a federal investigation into a global cybercrime ring blamed for more than $530 million in losses caused by identity theft, according to the U.S. Department of Justice.

Harbor-UCLA Med Center Opens First Psychiatric ER for Adolescents in California

The overcrowded psychiatric emergency room at Harbor-UCLA Medical Center in Torrance was officially replaced on Feb. 7 with the opening of a $7.3 million expansion project that includes a space specially designed for teens.

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264-Unit Apartment Sells in Inglewood for $123 Million

Bell Partners Inc. has purchased a five-story, 264-unit, 210,000-square-foot apartment complex at 11622 Aviation Blvd in Inglewood for $123 million from San Diego-based Fairfield Residential, according to CoStar Group Inc.

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CitizenM Hotels Buys Downtown Parking Lot for $13.5M

New York’s CitizenM Hotels has purchased a 20,000-square-foot parking lot at the northwest corner of Spring and 4th streets in downtown for $13.5 million, or $675 a square foot, from Pasadena-based System Property Development Co. Inc. in an all-cash transaction, according to CoStar Group Inc.

Soon-Shiong Confirmed Buyer of L.A Times; Publisher Levinsohn Stays With Tronc

Los Angeles Times parent company Tronc Inc. has entered into a definitive agreement to sell the Los Angeles Times, San Diego Union-Tribune and various titles in the California News Group division to Nant Capital, the private investment vehicle of L.A. biotech billionaire Patrick Soon-Shiong.

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CUSTOM CONTENT: Preventing, Managing and Resolving Potentially Devastating Cyberattacks

Trusted Advisors

Recent highly publicized cyberattacks, including WikiLeaks’ dump of CIA documents in early March and the hack of the Democratic National Committee in 2016, underscore the threat that both companies and government agencies face from cyberattacks.

Hana Financial Sells SBA Lending Business

Stamford, Conn.-based Patriot National Bancorp Inc. has agreed to acquire Hana Financial Inc.’s Small Business Administration lending business.

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Tuesday, February 6

L.A. Tops Once Again in Global Traffic Congestion Survey

For the sixth year in a row, Los Angeles has topped a list of the world’s most gridlocked cities, according to a survey released Feb. 6.

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Disney's First Quarter Bolstered by Theme Parks, Films

Walt Disney Co. beat Wall Street forecasts on earnings but just fell short on revenue in the fiscal first quarter.

Silicon Beach Report Feb. 6: Falcon Heavy Launch Completes Successful Test Launch

Falcon Heavy launch completes successful test launch; Snap Inc.’s share price soars after revenue beats expectations; and Brentwood Associates invests in credentials solutions.

Soon-Shiong Reportedly to Buy L.A. Times, San Diego Union-Tribune

Los Angeles biotech billionaire Patrick Soon-Shiong is buying the Los Angeles Times and San Diego Union-Tribune, according to the news reports.

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New Leadership at Trailer Park Inc.

Engine Group North America has announced new executive leadership at content creation and entertainment marketing agency Trailer Park Inc.

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Snap Inc.’s Share Price Soars After Revenue Beats Expectations

Snap Inc.’s share price soared more than 26 percent to as high as $17.80 a share in after-hours trading Tues., Feb. 6 after the Snapchat developer posted revenue for the quarter ended Dec. 31 that beat stock analysts’ expectations.

Brentwood Associates Invests in Credentials Solutions

Middle-market private equity firm Brentwood Associates in Sawtelle announced on Feb. 6 an investment in Credentials Solutions, a technology company that provides business services to the higher education sector. The amount invested was not disclosed.

Liberty Property Trust Acquires Commerce Industrial Property for $93 Million

The Malvern, Pa.-based real estate investment trust, Liberty Property Trust, has acquired the 400,000-square-foot Randolph Business Center at 5959 Randolph St. in Commerce for $92.7 million, or nearly $232 a square foot, from CalPERS and Seattle, Wash. investment manager Bentall Kennedy, according to CoStar Group Inc.

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Monday, February 5

Children’s Hospital L.A. Joins Study Using Stem Cells to Treat Rare Heart Defect in Kids

Children’s Hospital Los Angeles has joined the first national study to employ stem cells to stave off heart failure in kids born with half a heart.

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ApolloMed to Manage 100,000 Patients at 17 Former Molina Healthcare Clinics

Apollo Medical Holdings Inc., a health care management firm based in Glendale, struck a deal with a newly founded Golden Shore Medical Group to manage 100,000 patients in California, the company announced Feb. 5.

Hollywood Agency Shutters Following Sexual Harassment Allegations

Hollywood manager Vincent Cirrincione, who has represented stars including Halle Berry and Taraji P. Henson, has shut down his management agency in Hollywood following allegations that he sexually harassed aspiring black actresses over a period of 20 years.

New HQ, New Culver City Soundstage for Content Studio Stun

Entertainment content studio Stun is moving west from the SAG-AFTRA Building to larger office space, having signed a lease for 22,000-square-feet for its new headquarters at 6420 Wilshire Blvd.

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Silicon Beach Report Feb. 5: Fair Raises $50 Million and Acquires Rental Car Delivery Service Skurt

Fair raises $50 million and acquires rental car delivery service Skurt; Global Eagle submits overdue SEC filings; and Hulu says Super Bowl live-streaming outage was caused by program-extension glitch.

Platinum Equity Acquires WS Packaging Group

Beverly Hills private equity firm Platinum Equity announced it has acquired packaging and labeling company WS Packing Group of Green Bay, Wis. from J.W. Childs Associates.

Custom Content: Watch Tiger and golf’s best from The Backlot

Los Angeles Business Journal

Industry leaders, decision-makers and social influencers spend their time at the Genesis Open. This PGA TOUR tournament is not only the social event on the LA sports calendar, it is the best event to grow your business.

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Sunday, February 4

UPDATE: Bankrupt Breitburn Energy Partners Rejects $1.8B Offer

Breitburn Energy Partners has rejected a $1.8 billion cash offer from a Houston energy fund.

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Friday, February 2

Custom Content: CPAP Store USA announces expansion of 22 locations across the United States.

Los Angeles Business Journal

Today, one of the top ResMed, Respironics Apex, Fisher & Paykle, and Transcend CPAP authorized dealers, has announced that CPAPstoreUSA.com, is planning to accelerate the opening of 22 additional CPAP Stores across the country. Since their launch in 2001, they are currently in several of the top markets such as Las Vegas, Nevada; Los Angeles & Agoura Hills, CA; and Dallas Forth Worth, TX.

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Silicon Beach Report Feb. 2: Science Closes $75 Million Fund

Science closes $75 million fund; Elon Musk’s Boring Co. sells all its flamethrowers; and Snapchat is selling hats and sweatshirts inside its app.

Billboard-Hollywood Reporter, Dick Clark Productions and MRC Merge as Valence Media

Eldridge Industries is consolidating three of its high-profile entertainment properties into a new company, Valence Media, the company announced on Feb. 2.

Children’s Hospital L.A. CEO to Chair State Children’s Hospital Association

Paul Viviano, chief executive of Children’s Hospital Los Angeles, has been named chair of a state association for children’s hospitals to lead initiatives intended to help boost pediatric health.

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Ares Management Acquires Convergint Technologies

A fund managed by the Century City-based Ares Management’s private equity group has acquired Schaumberg, Ill.-based security systems integrator Convergint Technologies, from KRG-affiliated investment funds for an undisclosed amount.

Puma Biotech Strikes Deal to Develop and Market its Breast Cancer Drug in China

Puma Biotechnology has struck an exclusive licensing deal to develop and sell its breast cancer drug across China. The news comes a week after the company announced Europe would likely block approval of the drug.

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Beyond Meat Expands Research Facility

Beyond Meat, a producer of plant-based meat substitute products, is expanding operations at its El Segundo headquarters, the company announced.

iHeartMedia Inc. Skips $106 Million Interest Payment

Struggling under a $20 billion debt burden, San Antonio, Tx.-based iHeartMedia Inc. said its subsidiary, iHeartCommunications Inc., has decided to not make a $106 million interest payment to its creditors, the company said this week.

Beverly Hills Gets in on Hospitality Hot Streak

Visitors to area swelled 23 percent in 2016, $2.8B annual impact

Tourists loved L.A. County last year – and particularly Beverly Hills.

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Puma Execs Catch Break on Timing of Stock Sale

Paying tax on options a day ahead lessens pain of share price crash

ust short of a sharp share price drop, Puma Biotechnology execs sell.

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E-Sports Seen to Stir Commercial Market

Expected to bring demand for everything from arena space to broadcast facilities

E-sports moves to take more real estate.

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Marketing on Tap at Staples Center Bar & Grill

Impact Networking’s venue open to ticketholders, leads West Coast expansion plan

Impact Sports Bar & Grill adds to mini-empire with new site in Staples Center.

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Watt’s Up? Consolation Prize on Amazon HQ2?

This issue marks our inaugural list of largest philanthropic donations to L.A. institutions over the past year, and you’ll find coverage that starts on page 1, with a list of gifts of $1 million or more beginning on page 10

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Founders’ Conflicts Inspire Marshall Course

A two-year-old USC business program teaching co-founders of startups how to get along better has become popular enough to warrant an expansion.

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Calendar

Calendar of Events

Museum, Mall Join Forces

Macerich Co. wanted to draw more traffic to its open-air Santa Monica Place mall.

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Ontario Hits Hot Spot on Asia Flights

Ontario International Airport, now on its own, prepares to take off as an economic driver.

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Mogul Moves on Hollywood Hospital

CHA Hollywood Presbyterian Medical Center breaks ground on hub of $310M expansion.

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L.A.’s GIFT LIST: $533M

Prominent people, brand-name institutions behind big number

The names and empires behind L.A. County’s biggest gifts, and the lucky recipients.

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Snap’s Leaks Not Only Problem

TECHNOLOGY: Legal threats don’t gag employees

Once a tech darling, Snap struggles to get control of employees and share prices.

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Get Past Talk on Toilets

Tucked inside the local section of the Los Angeles Times on Jan. 25 was a report of a “short debate” by the City Council before a vote to enter into negotiations on an amendment and extension of a 20-year contract that’s been “a financial disappointment for the city.”

Long-Term Thoughts on Business of 2028 Olympics

Like many Angelenos, I celebrated the news that Los Angeles had reached an agreement with the International Olympic Committee on hosting the 2028 Summer Games. As a sign that preparations are already underway, Los Angeles Mayor Eric Garcetti on December 2  announced the “28 by 28” initiative that aims to complete 28 regional transit projects prior to the city hosting the games.

Sports Titans: Stan Kroenke

Developer from Show-Me state looks to show out with new stadium

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Thursday, February 1

Dole to Merge With European Distributor Total Produce

Dole Food Co. is set to merge with European fresh produce distributor Total Produce following a $300 million deal that will see Total Produce buy a 45 percent stake in the Westlake Village company from owner David H. Murdock.

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Connexion Burbank Sold for $125 Million

Intercontinental Real Estate has purchased the Connexion Burbank complex at 303 N. Glenoaks Blvd. for roughly $125 million, or $370 per square foot, according to Costar Group.

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Mattel Posts Quarterly Loss and Dismal Fiscal Year Results

Mattel Inc. continued its streak of poor financials posting fourth quarter net loss and declining earnings for fiscal year 2017.

Silicon Beach Report Feb. 1: Joymode Raises $14.4 Million

Joymode raises $14.4 million; SpaceX Falcon 9 rocket survives splash in Atlantic Ocean; and amid satellite TV drop, DirecTV Now streaming service hits 1.2 million subscribers.

ACCO Buys Pasadena Office for $112 Million

ACCO Engineered Systems purchased a six-story, 235,000-square-foot office building at 888 E. Walnut St. in Pasadena for $112 million, or nearly $477 per square foot, from JP Morgan Chase & Co.

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Levity Acquires Improv Comedy Brand

Levity Entertainment Group in Westchester has acquired The Improv, the 54-year-old comedy club brand owned by Budd Friedman and Mark Lonow, Levity announced on Feb. 1.

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Millennials Weigh in on Careers, Automation and Getting Ahead in an Era of Uncertainty

Custom Content from the Los Angeles Business Journal

Volumes have been written about millennial work styles and behaviors – and for good reason. By 2025, millennials will make up 75 percent of the global workforce. Often missing from the discussion are millennials’ perspectives on their own careers.

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