Los Angeles Business Journal


Lawsuit Targeting Composer Hans Zimmer’s ‘12 Years a Slave’ Score Dismissed

The lawsuit targeting iconic 58-year-old composer Hans Zimmer over his score for Academy Award-winning film “12 Years a Slave” has been dismissed. Plaintiff Richard Friedman voluntarily withdrew his complaint Thursday and apologized Zimmer in a letter, according to the composer’s attorneys.

Silicon Beach Report Aug. 26: Snapchat to Rollout Behavior Targeting for Advertisers

Snapchat to rollout behavior targeting for advertisers, Thrive Market making pitch to be affordable online Whole Foods, and SpaceX’s Dragon capsule splashes down in ocean.

Movers for Week Ending Aug. 26, 2016

Los Angeles-based soda company Reed’s Inc. was this week’s biggest mover, gaining 18 percent to end at $3.12. Westwood-based Puma Biotechnology Inc. was also among the week’s movers. The biopharmaceutical company gained 15 percent to end at $57.63. Los Angeles-based oil and gas company California Resources Corp. was the week’s biggest loser, dropping 20 percent to end at $10.23.

Apartments Set to Sprout Up Next to Los Angeles River

An industrial strip of Casitas Avenue in Glassell Park is about to get several hundred little homes. New York-based real estate company Pan Am Equities just purchased a 5.6 acre site there for $22 million with plans to build a 400-unit apartment complex.

Manufacturers Fear Impact of New Emissions Target

The passage this week of Senate Bill 32 to implement stricter greenhouse gas emissions standards creates uncertainty for businesses and may lead to more businesses leaving California, said Dorothy Rothrock, president of the California Manufacturers & Technology Association.

Silicon Beach Report Aug. 25: Apple Making Snapchat Clone

Apple making Snapchat clone, Hyperloop Transportation’s novel approach, and RockYou buys Fanbread.

Camuto Group Acquires Majority Stake in Shoe Company Sole Society

Online retailer Sole Society in Culver City is fashioning a bigger footprint with the help of footwear powerhouse Camuto Group in Greenwich, Conn.

Mayor Announces City Exceeding Targeted Pace for Housing Permits

Los Angeles Mayor Eric Garcetti on Thursday announced that the city has issued permits for 40,800 new housing units since he took office in July 2013, putting the city ahead of his target for 100,000 new units permitted by mid-2021.

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Bijan’s Rodeo Drive Store Fetches $122 Million

Bijan’s yellow store on Rodeo Drive sold last month for $122 million, or $19,405 a square foot, to the parent company of Louis Vuitton, according to CoStar records.

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Southern California Institute of Architecture to Launch New Post-Grad Programs

This fall, downtown L.A.’s Southern California Institute of Architecture (SCI-Arc) will roll out four specialized postgraduate programs aimed to groom architects for a wide range of twenty-first century careers. Hosted under the umbrella, Edge, Center for Advanced Studies in Architecture, the one-year degrees will be a Master of Science in Architectural Technologies, Master of Arts in Entertainment and Fiction, Master of Science in Design of Cities, and Master of Science in Design Theory and Pedagogy.

Hanjin to Present Restructuring Plan as Bankruptcy Deadline Nears

Embattled South Korean cargo container carrier Hanjin Shipping Co. Ltd. is expected to present a $1.1 billion liquidity plan Thursday in efforts to avoid bankruptcy.

Silicon Beach Report Aug. 24: Digital Domain Partners with World Surf League for 360-Degree Content

Digital Domain Partners with World Surf League for 360-degree content, Comedy Central grabs Snapchat star for TV show, and SpaceX to refurbishing rockets in Florida.

Neighborhood Integrity Initiative Submits Signatures for Ballot Measure

Backers of an initiative to curb mega-developments in Los Angeles turned in nearly 104,000 signatures to the city clerk’s office Wednesday, 67 percent more than the 62,000 needed to place the measure on next March’s ballot.

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Santa Clarita Winery Estate Ripe for Purchase

When Barry Goldfarb needs a change of scenery, he can drive half an hour from his Bel Air home to Agua Dulce in Santa Clarita. The 90-acre site is more than a countryside estate; it’s L.A.’s largest vineyard and winery. The site just hit the market for $12.8 million, listed by Partners Trust Commercial brokers Dario Svidler and Robert Morton.

Ports Labor Slowdown Led to Greater Air Pollution in 2015

Congestion last year at the ports of Los Angeles and Long Beach contributed to a rise in greenhouse gas emissions, port officials have reported.

Silicon Beach Report Aug. 23: STX Entertainment Acquires Virtual Reality Company Surreal

STX Entertainment acquires virtual reality company Surreal, Google Daydream to use Hulu VR content, Disney Movies Anywhere integrates with Verizon Fios, and more.

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Banc of California Gets Naming Rights to New L.A. Soccer Stadium

The Los Angeles Football Club’s future 22,000-seat stadium will be called the Banc of California Stadium, according to an agreement between the soccer club and Irvine-based bank announced today.

Silicon Beach Report Aug. 22: Kobe Bryant Launches $100M Venture Capital Fund

Kobe Bryant launches $100 million venture capital fund, L.A. Dodger announces second accelerator class, and SpaceX puts first vertical rocket landed on display in Hawthorne.

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Gerun Riley Named President of The Broad Foundation

The Eli and Edythe Broad Foundation has named longtime employee Gerun Riley as its president.

Setback in Cards With Rule Shift

The long-running battle between local card rooms and tribal gaming casinos has a new skirmish line: a change in an obscure state rule that could cost the local card rooms millions of dollars in revenue each year.