Los Angeles Business Journal


Stocks Fall; Broadway Financial Corp. is Up, Guess Tanks

The Dow Jones industrial average fell 79 points in Monday trading to close at 17,719. The S&P 500 fell 10 points to close at 2,080. The Nasdaq fell 19 points to 5,108. The LABJ Stock Index fell two points to 243.

Tribune Denies Sale, But Is One Still Possible?

Tribune Publishing said Monday it is not “engaged in discussions or a process” to sell itself, but did not deny the potential for a future deal as rumors build over a possible sale of the Los Angeles Times and its sister papers.

McDonald’s Latest Offer: New Burgers, Table Service

McDonald’s will roll out a new menu along with table service in more than 600 restaurants in Southern California, the company said on Monday.

Bicycle Casino’s Hotel Flings Doors Open

Bicycle Casino is hoping for a full house of its own. The casino on Tuesday will open a seven-story, 99-room hotel in Bell Gardens, marking the culmination of a $50 million project that has been underway since 2013.

L.A. Tech Events Calendar: Nov. 30 – Dec. 13

Roundup of L.A. tech events in the next two weeks.

The Broad Among Museums Questioned by Senate Committee

The Senate Finance Committee is looking at nearly a dozen private museums opened by individual collectors, including downtown L.A.’s Broad Museum, the New York Times reports. Senators are examining whether the entities are actually performing work that merits a tax-exempt status.

More Haggen Store Sales Approved

Encino’s Gelson’s Markets and Smart & Final Stores have been approved to expand in Los Angeles. Gelson’s executives announced Monday that the company won final approval to buy two additional stores – one each in Laguna Beach and Carlsbad – that were formerly owned by bankrupt grocer Haggen. It earlier got six stores.

Fullscreen Hires Former Hulu Senior Exec

Culver City online media firm Fullscreen Inc. has hired Andy Forssell, the former vice president of content and distribution at Santa Monica’s Hulu, as its chief operating officer.

Cyber Monday Breaks Records

If early numbers are any indication, this Cyber Monday would be the largest online sales day ever, according to Adobe Systems Inc., the Los Angeles Times reports. Online sales this morning were $490 million which was 14 percent higher than the same period a year ago. Sales are predicted to reach $3 billion for the first time. The strong numbers come on the heels of a slower Black Friday than retailers were expecting.

Hamburg Bows Out of Olympics Bid

The odds for Los Angeles becoming the host city for the 2024 Olympics just shot up. Hamburg, Germany, withdrew from the race Sunday, CBS Los Angeles reports.

The Flip Side of Increased Filming: More Complaints

While many are applauding the recent uptick in film and commercial production in Los Angeles, objections from residents are up nearly 20 percent compared to two years ago, according to Film L.A., the Los Angeles Daily News reports.

Creative Office in Long Beach

Adler Realty Investments Inc. of Woodland Hills has sold a 210,281-square-foot office complex in Long Beach for $35.2 million to a joint venture that aims to convert it to a creative office space.

Reader Poll

Have you ever been on one of L.A.’s tour buses?

CityView Sells Properties it Bought ‘Opportunistically’

Westwood’s CityView announced Monday it has sold four multifamily properties in Los Angeles County that it acquired at deep discounts during the downturn. It did not say how much it had paid for the properties, but said it sold them for $141 million. The properties are located in Hollywood, North Hollywood, Covina and La Mirada.

Murdoch: ‘L.A. Times to Go to Eli Broad’

A tweet from media mogul Rupert Murdoch is fueling long-swirling rumors that Los Angeles philanthropist Eli Broad is part of a group that would buy the Los Angeles Times from Chicago owner Tribune Publishing. If true, the deal would put the paper in the hands of local owners for the first time in 15 years, a period that has seen mass staff departures and thinning profits.

Markets Mixed

The Dow Jones industrial average fell 15 points in Friday trading to close at 17,798. The S&P 500 rose one point to 2,090. The Nasdaq rose 11 points to 5,128. The LABJ Stock Index fell two points to 243.

Murdoch: Eli Broad Group to Get L.A. Times

Media mogul Rupert Murdoch indicated in a tweet Friday that Los Angeles philanthropist Eli Broad along with "a local group" appears likely to get the Los Angeles Times, adding to long-swirling rumors that a local entity would take the newspaper from Chicago owner Tribune Publishing.

Douglas Emmett In Talks to Purchase Four Towers

If Douglas Emmett Inc. completes the purchase of four Los Angeles towers, it would become a party to the largest office sale in Los Angeles in recent years, the Wall Street Journal reports.

Hollywood’s Purple Haze to Launch Hendrix Vaporizer

Jimi Hendrix’s birthday would be an appropriate day to commemorate the musical contributions of a rock legend. For one Dutch company, it is also the perfect day to announce a Jimi Hendrix vaporizer.

Disney Teams Up with 3-D Doll Printer MakieLab

Walt Disney Co. is joining forces with London’s MakieLab to begin selling doll outfits that feature patterns of Disney’s Minnie Mouse and Maleficent characters, the Los Angeles Times reported Friday.