Los Angeles Business Journal


Faraday Future Plans Big Reveal

While mystery has been surrounding Faraday Future, an electric-car company in Gardena that is modeling itself after Tesla Motors, company officials just announced they will offer a firsthand glimpse in January of their concept car at the 2016 Consumer Electronics Show in Las Vegas, the Motor Authority reports.

Tribune to Sell L.A. Property

Tribune Media will sell nearly 25 acres in downtown L.A.’s Arts District, a press release said. A printing plant leased by the Los Angeles Times newspaper and seven acres of frontage along Alameda Street are parts of the parcel offered for sale.

Aerojet Soars With Space Contract

Shares in Aerojet Rocketdyne Holdings Inc. on Tuesday leaped more than 12 percent following an announcement the company had won two major NASA contracts worth $1.4 billion.

SpaceX Challenged by Jeff Bezos’ Vertically Landing Rocket

Blue Origin of Kent, Wash. on Monday launched a rocket into space and landed it back on earth vertically, making history and creating serious competition for Elon Musk’s rocket company SpaceX.

Yelp: Burbank a Top City for Local Shopping

An increasing number of people are preparing to shop locally this holiday season – about 64 percent of Americans, says a Harris Poll commissioned by Yelp. And according to a new Yelp list, Burbank ranks as one of the “Top Places to Shop Local.”

Calpers Paid $3.4 Billion in Bonuses

The California Public Employees’ Retirement System disclosed Tuesday that it has paid $3.4 billion in performance fees since 1990 to its private equity managers who earned $24.2 billion for retirees from their investments, the Los Angeles Times reports.

CIM Buys Martha Washington Hotel in N.Y.

Public records have revealed that CIM Group paid $158 million for the Martha Washington Hotel in New York plus an additional $14 million for a second parcel next door, a real estate news site in New York reports. According to The Real Deal, the Los Angeles-based CIM bought the 256-room, 130,000-square-foot hotel earlier this month. The developer plans to renovate the property and rename it the Redbury Hotel New York.

Big Expectations for ‘Star Wars’

There are already predictions that “Star Wars: The Force Awakens,” a Walt Disney Studios and Lucasfilm production which is directed by J.J. Abrams, could have the biggest domestic opening in history when it is released nationwide Dec. 18, the Hollywood Reporter says.

Clippers’ Dancers Get Reality Show

The Los Angeles Clippers’ dance squad are getting their own reality show. USA Today reports that the series will debut next year on the E! Entertainment channel, and shows will delve into the lives of the dancers, starting with their tryouts.

Stocks Rise; TrueCar Surges, Second Sight Medical Products Tanks

The Dow Jones industrial average rose 20 points in Tuesday trading to close at 17,812. The S&P 500 rose three points to 2,089. The Nasdaq was flat at 5,103. The LABJ Stock Index fell one point to 244.

Dollar Shave Club Raises More Millions; Eyeing IPO?

Dollar Shave Club of Santa Monica has raised an additional $15.7 million in a financing round and may be looking for more.

Stocks Fall; Ceres Soars, Daily Journal Sinks

The Dow Jones industrial average fell 31points in Monday trading to close at 17,793. The S&P 500 fell three points to 2,087. The Nasdaq fell two points to 5,102. The LABJ Stock Index was flat at 244.

No-Surprise Study: L.A.’s Traffic Bottlenecks Are Worst

Since about 42 million Americans are expected to hit the road this Thanksgiving, according to AAA, there are some local bottlenecks – among the worst in the country – travelers may want to avoid.

SpaceX Receives Manned-Mission Order

SpaceX, the Hawthorne-based rocket developer, was given approval Friday to launch its first human transport mission.

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TrueCar Names New Chief

TrueCar Inc. announced Monday that Chip Perry will replace Scott Painter, TrueCar’s founder, as president and chief executive of the company.

Preferred Bank Closes N.Y. Buy

Preferred Bank, a downtown Los Angeles bank that focuses on lending to Chinese-American businesses, announced Monday it has completed its acquisition of United International Bank, a small Chinese-American bank in Flushing, N.Y.

LAX Workers Begin Hunger Strike

Some employees at Los Angeles International Airport have chosen the busiest travel week of the year to stage a hunger strike, the Daily Breeze reports.

Pie Hole Opening in Orange County

Pie Hole, the pie and coffee shop with locations downtown and in Pasadena, has announced it will expand to Orange County in early 2016 with the first location coming to Old Towne Orange, the Orange County Register reports.

Silicon Beach Deal Flow: Nov. 20

A weekly roundup of must-read L.A. tech investments and acquisitions.