Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

PE Roundup: Private Equity Deals Announced This Week

Packaged meat producer AdvancePierre Foods Inc. in Cincinnati, a portfolio company of downtown PE giant Oaktree Capital Management, announced Tuesday that it has agreed to acquire Landshire Inc. of Caseyville, Ill., a manufacturer of sandwich products. Terms of the deal were not disclosed.

Markets Mixed

The Dow Jones industrial average fell 141 points in Friday trading to close at 17,673. The S&P 500 fell 11 points to 2,052. The Nasdaq rose seven points to 4,758. The LABJ Stock Index fell one point to 217.

City Charges Music Manager in Talent Scam

Los Angeles is moving to crack down on talent scams against aspiring entertainers being charged outrageous amounts for Hollywood representation.

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Work/Life: Bryson Reaume

The chief executive of City Constructors Inc. on downtown L.A., 40-hour weeks, and not missing the milestones

Bryson Reaume, the 34-year-old president and chief executive of downtown L.A. firm City Constructors Inc. co-founded the company in 2003 with several partners, including his dad. Reaume and his father had a hand in the early stages of downtown L.A.’s flirtation with loft culture, completing the Douglas Lofts, one of the first loft conversions in the area, followed by the conversion of the Rowan and the El Dorado loft buildings. Reaume eventually took over the company with his business partner and Vice President Evan Richardson, growing it into a full-service general contracting and construction management firm. These days, he oversees projects ranging from renovating the Roosevelt Hotel in Hollywood to constructing brick-and-mortar Warby Parker stores and tenant improvements in downtown apartment buildings. We spoke with Reaume about how he keeps up the juggle.

L.A. Unemployment Rate Dips Below 8 Percent for First Time in Six Years

L.A. County’s unemployment rate fell to 7.9 percent in December, the first time it was below 8 percent since mid-2008, state figures released Friday show.

DreamWorks Lays Off 500, Top Execs Leave

Two top executives are leaving and 500 employees are being laid off at DreamWorks Animation SKG after yet another poor box office showing, the studio disclosed in a regulatory filing on Thursday.

Commerce Escrow and RPM Investments Acquired

Downtown L.A.’s Commerce Escrow Co. and affiliate RPM Investments Inc. have been acquired by Opus Bank of Irvine in a cash-and-stock deal.

Stocks Rise

The Dow Jones industrial average rose 260 points in Thursday trading to close at 17,814. The S&P 500 rose 31 points to 2,063. The Nasdaq rose 83 points to 4,750. The LABJ Stock Index rose three points to 217.

Woven Digital Scores Dime Magazine

Online publisher Woven Digital of Culver City has acquired basketball news publication Dime Magazine to help expand the sports division of its biggest web property Uproxx.

City National Sells for $5.4 Billion

City National Bank of Los Angeles has been acquired by Royal Bank of Canada for $5.4 billion, or $93.80 a share, in a cash-and-stock deal, the two firms announced Thursday.

Evolve Media Acquires DogTime

Online publisher Evolve Media has acquired DogTime Media and its two pet-enthusiast properties, DogTime.com and CatTime.com.

FreedomPop Offers Unlimited Wi-Fi for $5 a Month

FreedomPop is offering unlimited voice, text and data through 10 million Wi-Fi hotspots across the country for a fraction of what mobile carriers charge for similar contracts.

Judge Rejects Mercury Suit Against Insurance Commissioner

A Sacramento judge has ruled that California’s Insurance Commissioner has the legal authority to lower insurance industry premiums in an effort to stop certain advertising costs from being passed on to consumers through higher premiums.

Skechers to Launch Subsidiary in Central Eastern Europe

Skechers USA Inc. announced Wednesday that the company is launching a subsidiary in Central Eastern Europe called Skechers CEE Kft.

Two Execs Plead Guilty to $100 Million Ponzi Scheme

The president of a Calabasas company accused of orchestrating a 13-year-long Ponzi scheme that defrauded nearly 2,000 investors of more than $100 million pleaded guilty Wednesday.

Stocks Mixed

The Dow Jones industrial average rose 39 points in Wednesday trading to close at 17,554. The S&P 500 rose 10 points to 2,032. The Nasdaq rose 13 points to 4,667. The LABJ Stock Index fell one point to 214.

Poll: The retail sector is taking root in downtown Los Angeles. What is the biggest impediment to you shopping downtown now?

Every week the Los Angeles Business Journal asks readers their views on a variety of business and economic issues. A running tally is available on the site and later will be published in the Commentary section of our print edition. Our latest poll is available on the bottom right column of our home page.

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Black Tux Suits Up with $10 Million Investment

Black Tux has tapped VC funding to make suiting up affordable and easy.

Cathay to Acquire New York Bank

Chinatown’s Cathay General Bancorp announced Wednesday that it has agreed to purchase fellow Chinese-American bank Asia Bancshares Inc. in Flushing, N.Y. for about $126 million in cash and stock.

Cargo up in Long Beach Last Year

Last year was the Port of Long Beach’s third-busiest, port officials said late Tuesday, as cargo container volume rose 1.3 percent over 2013.