Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Stocks Rise

The Dow Jones industrial average rose 76 points in Wednesday trading to close at 18,113. The S&P 500 rose 11 points to 2,107. The Nasdaq rose 34 points to 5,011. The LABJ stock index rose one point to 230.

The L.A. Dodgers Launch Tech Accelerator

The Los Angeles Dodgers are getting into the game of building tech companies with the launch of an accelerator.

L.A. Airline Catering Workers Strike Outside Kitchen

Saying they don’t have enough tools or manpower to do their work, about 175 employees of Chicago, Ill. airline catering company Flying Food Group protested Tuesday outside one of the company’s kitchens in Los Angeles.

Anthem’s California Chief Departs

The president of Anthem Blue Cross in California is leaving the insurer for a different gig in the health care industry.

World’s Fair Crowdfunding Its Way to Los Angeles

A group of business owners, executives and county officials want to bring a world’s fair to Los Angeles, and they’re starting their campaign with a fundraising drive on crowdfunding site Indiegogo.

Location Filming Declines in First Quarter

Location filming in the Los Angeles area dropped 3 percent in the first quarter of 2015, with the biggest decrease coming from feature film production, according to a report released Tuesday by FilmL.A.

Ares to Trim Stake in Smart & Final

With shares of warehouse grocer Smart & Final Stores Inc. up more than 50 percent since the company’s initial public offering last year, the chain’s biggest shareholder is taking some of its chips off the table.

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Surf Air Expands to Four New Cities, Adds Leisure Travel

Citing growing capacity and demand, Surf Air is expanding to four more cities for business and leisure travel.

Soho-Adjacent Site Downtown Trades for $11.5 Million

In addition to attracting bold-face names, London private club Soho House, which opened a West Hollywood outpost in 2010, has apparently become a magnet for real estate investment.

Stocks Mixed

The Dow Jones industrial average rose 60 points in Tuesday trading to close at 18,037. The S&P 500 rose three points to 2,096. The Nasdaq fell 11 points to 4,977. The LABJ Stock Index was flat at 229.

Short on Cash, Sales Virtual Piggy May Be Eyeing Sale

With little cash left on hand, Virtual Piggy of Hermosa Beach announced it has hired investment bank Viant Capital “to explore strategic alternatives.”

Arrowhead Shares Rise on Study Greenlight

Shares of biopharmaceutical company Arrowhead Research Corp. rose 1.1 percent to $8 Monday on news that the Food and Drug Administration has greenlit a new clinical study of the Pasadena firm’s most advanced drug candidate.

Orange Line Conversion is Too Pricey

Converting the Orange Line busway into light rail would cost at least $1.2 billion and should not be pursued until ridership grows, according to a study by the Los Angeles County Metropolitan Transportation Authority.

Capstone Turbine Eliminates Three Executive Positions

Struggling Capstone Turbine Corp. has eliminated three executive positions in a management shakeup expected to reduce expenses.

Second Geffen, Mani Malibu Deal Hits Record Price

Billionaire entertainment titan David Geffen and West Hollywood investor Mani Bros. Real Estate Group have continued their Malibu swapathon.

Stocks Down

The Dow Jones industrial average fell 81 points in Monday trading to close at 17,977. The S&P 500 fell 10 points to 2,092. The Nasdaq fell eight points to 4,988. The LABJ Stock Index fell one point to 229.

Accounting, Worker Errors Behind Ducommun’s Reporting Delays

After delaying the release of its fourth quarter and annual earnings twice, aerospace and defense manufacturer Ducommun Inc. of Carson released its earnings and explained on a conference call Friday that the company had to recalculate and restate certain financial data because of internal errors.

L.A.’s Chief Technology Officer Resigns

Steve Reneker, chief technology officer and general manager of L.A.’s Information Technology Agency said he would resign May 1, leaving to take a similar job in Riverside County, where he lives.

American Apparel to Add Paid Holidays

Production workers at American Apparel Inc. in downtown Los Angeles will now receive paid holidays, a first for the company.

Former Wham-O, Sriracha Factory Gets New Lease on Life

Olson Co., the largest residential developer in San Gabriel, has sold part of the property that used to house the Wham-O toy factory and was later occupied by Sriracha maker Huy Fong Foods.