LA BUSINESS JOURNAL DAILY NEWS

Guess’ Paul Marciano Gives up Day-to-Day Duties Amid Sexual Harassment Claims

Downtown-based Guess Inc. announced Feb. 20 that co-founder Paul Marciano had stepped down from his daily duties due to an on-going investigation of sexual harassment claims by model and actress Kate Upton.

Silicon Beach Report Feb. 19: Elon Musk Gets Preliminary Permit for Hyperloop Tunnel in DC

Elon Musk gets preliminary permit for tunnel in DC; Air Force and Aerojet Rocketdyne renegotiating AR1 development agreement; and IdeaLab’s 3-D printer company New Matter shutting down.

Jakks Pacific Adds Harry Potter Tech Wands

Jakks Pacific Inc. will launch a collection of “technologically advanced and interactive” magic wands based on the “Harry Potter” films thanks to a partnership between the toymaker and Warner Brothers.

Tease photo

Sole Source Capital Buys Stake in Oil Equipment Supply Co.

Santa Monica private equity firm Sole Source Capital announced Feb. 16 it has purchased a majority interest in Premier Flow Control, an Odessa, Texas-based oil equipment supply company.

Tease photo

Defunct Chinatown Hospital Could be Replaced by 24-Hour Urgent Care

The shuttered Pacific Alliance Medical Center in Chinatown could be replaced by a 24-hour urgent care center, according to a recent bid to buy the site.

Tease photo

Sylmar Construction Firm in Joint Venture for $1.4B East Coast Infrastructure Project

Tutor Perini, Parsons Transportation to Redevelop Newark Airport

A joint venture between civil construction firm Tutor Perini Corp. in Sylmar and Washington, D.C.-based Parsons Transportation Group Inc. has won a $1.4 billion contract for a major redevelopment project at Newark Liberty International Airport in Newark, N.J.

Long Beach Airport Passenger Traffic Up Nearly 7 Percent in January

Airline passenger traffic at Long Beach Airport increased nearly 7 percent in January 2018 compared with the same period in 2017, airport officials announced on Feb. 16.

Tease photo

Adventist Health to Shift Nearly 1,200 IT and Other Workers to Cerner Corp.

A state report lists nearly 1,200 pending layoffs at Adventist Health hospitals across the state, including hundreds at Adventist Health Glendale and White Memorial Medical Center in Boyle Heights. Only none of the workers will actually lose their jobs, according to the Roseville-based health system.

Silicon Beach Report Feb. 16: Task Management Software Workast Raises $1.85 Million

Task management software Workast raises $1.85 million; Snap CEO Evan Spiegel defends Snapchat redesign; and Air Force moves to buy small rocket launch services.

Panda Express Parent Inks Franchise Deal With Chicken Finger Chain

Rosemead-based Panda Restaurant Group has signed a franchise agreement with Baton Rouge, La.-based Raising Cane’s to open locations of the chicken finger concept in Hawaii and Alaska, according to news reports.

Former Los Angeles Banker Gives $1 Million to City of Hope to Train Docs

A Seattle-based foundation has donated $1 million to City of Hope to train clinicians in meeting the mental, social and spiritual needs of cancer patients.

Family of City of Hope Dynamo Gives $1 Million to Spur CART Cancer Therapy

The family of an executive who turned City of Hope from a country sanatorium for tuberculosis into a world renowned cancer center has donated $1 million for research in his name.

City of Industry Industrial Property Sells for $51 Million

A Morgan Stanley fund has paid $51 million – or more than $178 a square foot – to purchase a more than 286,000-square-foot industrial property in the City of Industry from a Charles Dunn Equities limited-liability company, according to CoStar Group.

Tease photo

Adaptive Studios Raises $16.5 Million in Series B Funding

Adaptive Studios Inc, an entertainment studio that creates premium content for emerging and traditional platforms located in Culver City, has raised $16.5 million in Series B funding, the company announced on Feb.15.

Tease photo

LAX’s $4.5 Billion People Mover Project Begins Approval Process

The Los Angeles World Airports Board of Commissioners on Feb. 15 voted to take the first step toward awarding a $4.5 billion contract to a contractor consortium to design, construct and operate the planned people mover at Los Angeles International Airport.

Tease photo

Silicon Beach Report Feb. 15: Billionaire Peter Thiel Moving to Los Angeles

Billionaire Peter Thiel moving to Los Angeles; custom packaging company Lumi raises $9 million; and DroneBase raises $12 million.

Kaiser Permanente Gives $3.1M to Encourage Kids’ Healthy Habits

Kaiser Permanente, the largest integrated health system in the U.S., donated $3.1 million to a program to promote healthy habits for kids in Los Angeles and throughout the nation.

Billionaire Peter Thiel Moving to Los Angeles

Billionaire investor Peter Thiel is reportedly moving his residence, as well as his venture capital firm and non-profit, to Los Angeles after expressing frustration with what he sees as Silicon Valley’s overwhelming liberal politics and diminishing opportunities for tech investing.

Tease photo

SBA Loans Available for those Affected by California’s Recent Natural Disasters

The U.S. Small Business Administration announced on Feb. 13 that it had approved $20 million in loans for Southern California businesses and residents affected by recent mudslides and wildfires.

Harbor Freight Mogul Gives $50M to Cedars-Sinai for Heart Research

The owner of Harbor Freight Tools USA Inc. and his foundation gave $50 million to Cedars-Sinai to advance cardiovascular research and innovation.

Tease photo