Los Angeles Business Journal


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Kobe Bryant Launches $100M Venture Capital Fund

Kobe Bryant has launched a $100 million venture capital fund.

Movers for Week Ending August 19, 2016

Pasadena-based biotechnology company Arrowhead Pharmaceuticals was this week’s biggest mover, gaining 26 percent to end at $7.50. Hawthorne-based OSI Systems, Inc. was also among the week’s movers. The specialized electronics manufacturer gained 11 percent to end at $68.46. Santa Monica toy company Jakks Pacific Inc. was the week’s biggest loser, dropping 6 percent to end at $8.93.

Silicon Beach Report Aug. 19: L.A. Tech Wages Rising Fastest in the Nation

L.A. tech wages rising fastest in the nation, Activision runs Snapchat zombie karaoke lens, and YP hires new CEO.

Los Angeles Unemployment Falls Despite Drop in Payrolls

L.A. County’s unemployment rate fell to 4.8 percent in July, its lowest level in nearly 10 years, despite a sharp seasonal drop in employer payrolls, state figures released Friday show.

L.A. Has Second Highest Number of Fast Growing Businesses Last Year

Los Angeles was the city with the second highest number of fast growing private businesses in the country last year, according to the 2016 Inc. 5000 list, published by Inc. Magazine on Aug. 17.

Silicon Beach Report Aug. 18: Amazon Producing Virtual Reality Content in Santa Monica

Amazon producing virtual and augmented reality content in Santa Monica, FreedomPop offers free WhatsApp data, and Atom Tickets expands nationally.

First Ports of Call Demolition OK’d to Make Way for New Waterfront

The Los Angeles Harbor Commission moved forward Thursday on plans for the first in a series of demolitions that will pave the way for a major overhaul of the Ports of Call waterfront district.

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I-15 Reopens, Some Train Routes Still Closed in Cajon Pass

Caltrans reopened the 15 Freeway in both directions Thursday morning, two days after wildfires closed the major shipping corridor through the Cajon Pass, but some train routes were still delayed.

Class Action Suit Against USC Targets Faculty and Staff Retirement Plans

A federal class action filed Wednesday against USC claims the university breached its fiduciary duty to faculty and staff who participate in retirement fund programs through the school.

BNSF to Resume Train Traffic Through Cajon Pass after Fire Delay

More than 24 hours after the Blue Cut fire forced BNSF Railway to halt its cargo trains moving through the Cajon Pass, the first trains were expected to roll out again late Wednesday afternoon.

Agreement Reached on LAX Improvements

Long-awaited improvements that would include rail access at the aging and congested Los Angeles International Airport may finally be able to move forward.

Silicon Beach Report Aug. 17: Gwyneth Paltrow’s Goop Is Moving to Los Angeles

Gwyneth Paltrow’s Goop is moving to Los Angeles, TeleSign Hires new chief executive, and Snapchat plans to expand New York office to 400 employees.

Los Angeles Water and Power Department COO Appointed as Interim General Manager

Los Angeles Department of Water and Power chief operating officer David Wright was appointed the agency’s interim general manager Tuesday by the Board of Water and Power Commissioners. He replaces Marcie Edwards, who announced her resignation earlier this month.

Silicon Beach Report Aug. 16: ChowNow Integrated with Google Search

ChowNow integrated with Google search, Content Check acquires Honest Cooking, Intel to open L.A. virtual reality studio, and more.

‘Entourage’ Actor Jerry Ferrara Sued by Sandwich Chain

A popular sandwich chain sued actor Jerry FerrarA popular sandwich chain sued actor Jerry Ferrara Tuesday in an attempt to expel the celeb from the ownership group alleging he undermined the restaurant and breached his contract. a Tuesday in an attempt to expel the celeb from the ownership group alleging he undermined the restaurant and breached his contract.

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Long Beach Office Sells to Anaheim Firm for $26 Million

A steel and glass office building on the east side of Long Beach just sold for nearly $26 million, according to a source familiar with the transaction. The nearly 120,000-square-foot property called Park Tower was purchased by Anaheim-based Milan Capital Management from Bahrain-based Investcorp Bank B.S.C. The sale translates to just under $218 a square foot.

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Playboy Mansion Sells for $100 Million to Twinkies Mogul

Hostess Brands co-owner Daren Metropoulos has purchased the Playboy Mansion for $100 million, he said in a statement. The deal, which allows 90-year-old Playboy Enterprises Inc. founder Hugh Hefner to spend the rest of his life living in the storied Holmby Hills estate, closed $100 million below the asking price, but likely marks a record home sale for Los Angeles.

Report: High Pay, High Demand for Software Engineers

The need for software engineers extends far beyond Silicon Beach, as businesses of all kinds work to bolster their online presence, according to a new report.

Baseball Series Engenders Home Base at Studio

Twentieth Century Fox Television’s new series “Pitch” has taken advantage of the California Film Commission’s expanded $65 million tax credit program, but it’s also giving back to the local industry. The show’s team is building out an expanded soundstage at Paramount Studios in Hollywood to create the world of Ginny Baker, the first woman to play Major League Baseball – in the drama series, anyway.

Silicon Beach Report Aug. 15: Snapchat to Acquire Search Engine App Vurb for $100M

Snapchat to acquire search engine app Vurb for $100 million, three L.A. companies bidding for Gawker Media, FireFly Games Raise $10 million, and more.