Los Angeles Business Journal

Metro Wants to Lower Rents

If working-class Angelenos can’t afford to live near transit lines, they’re less likely to use public transit. That’s the thinking behind the Los Angeles Metropolitan Transportation Agency’s decision to set aside land near transit lines for affordable housing, KPCC reports.

Encore for Gustavo

The Dude is staying put: The Los Angeles Philharmonic has extended star conductor Gustavo Dudamel’s contract by three years, which will keep the Venezuelan wunderkind in Los Angeles into 2022, the Los Angeles Times reports.

High Fashion

Get ready, big spenders. A flagship Nordstrom store and a fashion wing with up to 100 stores are set to open in mid-October at Del Amo Fashion Center, part of a $200 million upgrade to the South Bay mall, the Daily Breeze reports.

Pay Day

Money talks for Google’s new chief financial officer, Ruth Porat, who will be $70 million richer for defecting from the same job at investment bank Morgan Stanley, the Los Angeles Times reports.

Apple CEO to Give It All Away

Tim Cook says he will join the ranks of the rich who don’t plan to die with it by giving away his estimated $785 million fortune to charity after making sure his 10-year-old nephew's college tuition is paid for, CNBC reports.

Buying at the Beach

Fresh and Easy may be closing around 50 of its grocery stores, but the company’s chief executive isn’t letting the news get him down as he has forked over $6.35 million for an oceanfront house in Redondo Beach, the Los Angeles Times reports.

Stocks Up

The Dow Jones industrial average rose 13 points in Friday morning trading to 17,691. The S&P 500 rose three points to 2,059. The Nasdaq rose 19 points to 4,882. The LABJ stock index rose one point to 227.

Toppling “McMansions”

“McMansions” may soon be no more now that the Los Angeles City Council has voted to temporarily restrict them in 20 local neighborhoods, saying they are changing the character of some areas, the Los Angeles Daily News reports.

SEC Probes American Apparel CEO’s Ouster

The SEC has launched an investigation into the way American Apparel handled the firing of its controversial founder Dov Charney, Bloomberg reports.

Co-Pilot Planned to Crash German Plane

The co-pilot of the Germanwings plane that crashed into the French Alps on Tuesday, killing all 150 people on board, appears to have downed the plane deliberately, according to French authorities, Reuters reports.

Verengo Solar Co-Founders Resign

Verengo Solar’s co-founders, Randy Bishop and Ken Button, are leaving their posts at the Torrance solar panel company to pursue other interests, the company has announced. See the Los Angeles Business Journal’s coverage here.

Herbalife Counterpunches

Don’t count Herbalife out. The Los Angeles nutritional supplement company is taking aim at its critics with a downtown rally and its first TV ad campaign in more than a decade, the Los Angeles Times reports.

EPA Emissions Split High Court

The Supreme Court is split over the Obama administration’s effort to impose strict emissions standards for coal-fired power plants, but the court could block a new rule. The standards would forbid plants from releasing mercury, arsenic and other hazardous pollutants into the air but would result in high prices, the Los Angeles Times reports.

Restoring the L.A. River

All dreams come with a cost as city officials are finding out as the price of restoring the L.A. River could now cost the city as much as $1.2 billion, the Los Angeles Times reports.

Tenants Now Run to Red Building

“If you build it, they will eventually come” could be the motto of the Pacific Design Center’s red building which, until recently, had been unoccupied since it was built in 2013, the Los Angeles Times reports.