Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Largest L.A. Law Firm Relocates Following DaVinci Fire

Less than two weeks after a fire damaged its downtown L.A. headquarters, law firm Lewis Brisbois Bisgaard & Smith agreed to move to the iconic U.S. Bank Tower building at 633 W. Fifth St.

Haggen to Take Over Vons, Albertsons in Los Angeles

Pacific Northwest grocery chain Haggen Food & Pharmacy will buy 28 Albertsons, Pavilions and Vons stores located in Los Angeles, part of a divestment process sparked by the merger of grocers Albertson’s and Safeway.

American Apparel, Xencor Among Week’s Big Movers

The Los Angeles Business Journal’s index of the largest local public companies rose for the week. The weighted LABJ index rose 2 percent to close at 218, with gainers outpacing losers 111 to 41. Eight companies closed the week unchanged.

Stocks Rise

The Dow Jones industrial average rose 27 points in Friday trading to close at 17,805. The S&P 500 rose nine points to 2,071. The Nasdaq rose 17 points to 4,765. The LABJ stock index rose one point to 218.

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L.A. Launch List: Dec. 19

On this week's Launch List: A new VC fund, a marketing platform and another service from Uber.

L.A. Unemployment Rate Holds Steady Despite Job Gains

The California Employment Development Department reported that Los Angeles County’s unemployment rate remained stuck at 8 percent last month as the number of residents reporting they were working barely budged.

Zealot Networks Buys AudioMicro for $20 Million

Danny Zappin’s Zealot Networks has made its first buy. The recently launched digital media company announced Thursday it purchased a majority stake in music licensing firm AudioMicro for $20 million.

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Spokeo CEO Talks Record Growth

Spokeo announced this week it hit $57 million in revenue this year, a 159 percent increase over the last three-year period.

Maguire Secures Investment in Water’s Edge Campus

Real estate investment firm DivcoWest announced Thursday that it has completed a joint venture with storied L.A. developer Rob Maguire to gain an interest in his Playa Vista creative office campus, Water’s Edge.

Charney Reacts to Firing, Yahoo Reports

Dov Charney provided a statement to Yahoo Finance on Wednesday saying he was offered “a lucrative multi-million dollar compensation package” to remain with American Apparel, the news outlet reported.

LAX Board Approves $4 Billion Train Project

The Los Angeles Board of Airport Commissioners, which oversees the Los Angeles International Airport, has approved a $4 billion project that includes building a train that will link LAX to a new Metro rail station nearby.

Long Beach Attorney Pleads Guilty to Marijuana Money Laundering

A Long Beach attorney who helped the owner of a chain of marijuana shops launder money pled guilty to federal charges, the U.S. Attorney’s office announced on Thursday.

L.A. Chamber Endorses Councilman Huizar’s Re-election Bid

The Los Angeles Area Chamber of Commerce has endorsed L.A. City Councilman Jose Huizar’s re-election bid against challenger Gloria Molina, Huizar’s campaign announced Thursday.

Stocks Rise

The Dow Jones industrial average rose 421 points in Thursday trading to close at 17,778. The S&P 500 rose 48 points to 2,061. The Nasdaq rose 104 points to 4,748. The LABJ Stock Index rose four points to 217.

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Work/Life: Jim Buch

The chief executive of Lynx Grills Inc. on disconnecting, priorities and breaking a sweat.

In 2012, Jim Buch became the chief executive of Lynx Grills Inc., a Downey manufacturer of premium grills and outdoor kitchen appliances – including a smart grill that talks to you. Prior to Lynx, he was the chief of SunBriteTV, the largest manufacturer of outdoor high-definition TVs. All companies considered, Buch has been a chief executive for almost 34 years. He is also a keynote speaker and business practice leader for the Josephson Institute of Ethics, Los Angeles, where he speaks to Fortune 500 and smaller companies on issues related to building a sustainable and ethical business culture. A second-generation Southern California native, he lives in Palos Verdes with his wife and two children. He teaches scuba diving and advanced diving skills in his spare time. We spoke with Buch about how to disconnect in an always-on world.

Sony Hack Reveals Snapchat Acquisitions

The hacked emails have turned a spotlight on Snapchat and two previously unknown acquisitions.

Smiletime Launches Interactive Video Platform

Smile for the camera – and talk to your favorite celebrity. That’s what Smiletime is offering to TV fans with its new interactive video platform.

Tutor Perini Settles Vegas Case

Tutor Perini Corp. has reached a nearly $190 million settlement with the owners of the CityCenter project in Las Vegas over a hotel that never opened due to alleged construction flaws.

Sony Cancels Release of ‘The Interview’ After Hacker Threats

Sony Pictures officially decided on Wednesday not to release the film “The Interview” in theaters on Christmas Day, the Culver City studio said in a statement.

21st Century Fox to Acquire TrueX

Video ads can be annoying, but they also can be somewhat of an art. After all, how do you grab the attention of online consumers who have grown to ignore them?