Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Evolve Media Hires New Chief Technology Officer

Integrated digital media company Evolve Media has brought on former CareerArc Group executive Travlin McCormack as its new chief technology officer.

Blackstone Unit to Invest in Rentech

Shares of Rentech Inc. jumped 13 percent on Thursday after the company said that a Blackstone Group unit would invest $150 million in its wood fiber business. It also announced a settlement with a dissident investor group.

Suit Seeks to Block Maker Studio Acquisition by Disney

Former officers with Maker Studio Inc., including the chief executive, are seeking a court order to stop a shareholder vote on the company’s $500 million acquisition by Walt Disney Co.

Zumbox to Shut Down

Digital postal mail startup Zumbox has informed users that it will shut down operations next week.

SEC Halts Trading of GrowLife Shares

Trading in shares of GrowLife Inc. was halted Thursday for two weeks after the Securities and Exchange Commission questioned some of the company’s stock transactions.

Stocks Drop

In Thursday trading, the Dow Jones industrial average closed down 267 points, or more than 1 percent, to 16,170. The Nasdaq fell 130 points, or 3 percent, to 4,054. The S&P 500 fell 39 points, or 2 percent, to 1,833. The LABJ Stock Index fell 5 points, or more than 1 percent, to 185.

Commission Recommends Combining Ports, Regulating DWP

A commission of civic leaders on Wednesday recommended combining the ports of Los Angeles and Long Beach, creating a regional tourism authority and setting up an independent rate-setting body for the Los Angeles Department of Water & Power.

State Chamber Lists Job-Killer Bills

The California Chamber of Commerce released its annual list of “job killer” bills on Wednesday – and the current tally of 26 is fewer than in recent years.

Loss Narrows for Joe's Jeans

Joe's Jeans Inc. on Wednesday reported a smaller fiscal first-quarter net loss and a boost in sales, both attributed to its acquisition of Hudson Clothing Holdings Inc.

Teledyne Buys Lab Equipment Firm

A subsidiary of Teledyne Technologies Inc. acquired Photon Machines Inc., a Montana company that makes lab instrumentation equipment.

Gores Group Sells Security Company

Gores Group on Wednesday said it has sold an Alabama security products company to Cornerstone Detention Products in the same state.

Stocks Rise

In Wednesday trading, the Dow Jones industrial average closed up 181 points, or 1 percent, to 16,437. The Nasdaq rose 71 points, or 2 percent, to 4,184. The S&P 500 rose 20 points, or 1 percent, to 1,872. The LABJ Stock Index rose more than 1 point to 190.

Poll: What’s the Most You’ve Spent on Sneakers?

READER POLL

The Los Angeles Business Journal has posted a new weekly poll for readers on issues in the news.

Weather Channel to Return to DirecTV

DirecTV on Tuesday said that it will once again offer the Weather Channel to subscribers after reaching a carriage deal with the cable channel’s owner.

McMorrow Makes Gift to USC Marshall

The University of Southern California and its Marshall School of Business announced Tuesday that local real estate executive William J. McMorrow made a substantial gift to the school to establish a global real estate program.

Swiss Firm Takes Stake in American Apparel

A Swiss investment firm has acquired more than a third of American Apparel’s latest stock offering, becoming the company’s second-largest investor and bailing the L.A. company out of a debt crisis.

AFEX Buys Bank in Toronto

AFEX, a Woodland Hills provider of cross-border payment services for businesses, has purchased Jameson Bank in Toronto, the company announced Tuesday.

Santa Monica Prop House Moves to Burbank

Omega Cinema Props is relocating from Santa Monica to the Burbank Airport Commerce Center.

Gores Group Invests in Tweedle

West Los Angeles private equity firm Gores Group announced Tuesday that it has made an equity investment in Clinton Township, Mich. automotive publishing company Tweddle Group Inc.

Stocks Rise

In Tuesday trading, the Dow Jones industrial average closed up 10 points to 16,256. The Nasdaq rose 33 points to 4,113. The S&P 500 rose 7 points to 1,852. The LABJ Stock Index rose 1 point to 188.