Los Angeles Business Journal

IPC Acquires Two Doctors Groups

IPC The Hospitalist Co. Inc. announced on Friday that it has acquired two doctors groups in Florida.

Earth Rises Due to Groundwater Loss

Drought-induced groundwater loss has caused the ground to rise, especially in the snow-starved mountains of California, the Los Angeles Times reported.

California Homeowners, Pensions Get $800 Million From BofA

California homeowners and pension funds will receive $800 million from Bank of America, the state’s share of the settlement over toxic mortgages, the Sacramento Bee reports.

Hitcents Acquires CAA-Backed Moonshark

Moonshark, a small mobile game publishing startup in Los Angeles backed by Creative Artists Agency has been acquired by Moonshark, a Kentucky software company with a focus on celebrity-driven apps, the Los Angeles Times said.

ER Visits Decrease at Public Hospitals in L.A

Emergency room visits not requiring hospitalization have fallen at Los Angeles County’s public hospitals between January and March, after six consecutive years where such visits increased, the Los Angeles Times reported.

NASA May Choose SpaceX as Contractor

NASA has seeded $1.5 billion to Hawthorne’s SpaceX, Chicago’s Boeing and Irvine’s Sierra Nevada Corp., and is expected to spend another $785 million on at least one of the companies over the next year as part of a heavily subsidized competition meant to end U.S. dependency on the Russian space agency, the Daily Breeze reported.

LAUSD iPad Plan Troubled, Report Finds

Los Angeles Unified School District’s $1 billion initiative to provide an iPad to every Los Angeles student, teacher and administrator was plagued with inadequate planning, a lack of transparency and a flawed bidding process, according to a draft district report obtained by the Los Angeles Times.

DWP Slow to Install Solar Energy in Homes

Despite promises by the Los Angeles Department of Water and Power to speed up the process, some customers are waiting months to get their home solar panels up and running, the Los Angeles Times reported.

Wild Salmon Losing Battle With Almonds for Water

While growers of almonds, one of the California’s most lucrative crops, enjoy record high production and skyrocketing sales despite the drought, wild salmon are competing with the crop for water and suffering as a result, NPR reported.

Forum Prepares to Host VMA Show

The Forum in Inglewood is gearing up to host the 2014 MTV awards, the first awards event there since the arena reopened this year after a makeover by its new owner, Madison Square Garden, the Los Angeles Times reported.

Getty Museum Hires Senior Curators

Getty Museum Director Timothy Potts hired Jeffrey Spier as its new senior curator of antiquities at the Getty Villa in Pacific Palisades and Davide Gasparotto, as senior curator of paintings based at the Getty Center in Brentwood, the Los Angeles Times reported.

What?! Monkey Selfies Can’t Be Copyrighted? Why Not?

The U.S. Copyright Office has confirmed that a selfie taken by a monkey or any other animal – doesn’t fall under copyright rules, CNBC reports. The office this week gave examples not eligible for protection, such as "a photograph taken by a monkey" and "a mural painted by an elephant." The ruling relates to a legal tussle between a British wildlife photographer and Wikimedia.

Dow, S&P Down; Nasdaq Up

The Dow Jones industrial average was down 26 points in Friday morning’s trading to 17,013. The S&P 500 was down 4 points to 1,988. The Nasdaq was up 1 point to 4, 533.

Bank of America Reaches Record Settlement

Bank of America and the Justice Department have reached a $16.7 billion settlement, ending federal investigations into the bank’s sale of toxic mortgage securities during the subprime housing boom, the Justice Department announced this morning. It is the single largest government settlement by a company in American history, the New York Times reported.

Zillow Says L.A. and Orange Counties Least Affordable in Nation

Renters in Los Angeles and Orange counties allocate more of their income towards housing than anywhere else in the country, according to new figures due out today from real estate website Zillow, the Los Angeles Times reported.