Los Angeles Business Journal


Cedars-Sinai Sues HealthCare Partners Over $6 Million in Unpaid Bills

Cedars-Sinai Medical Center filed a lawsuit Tuesday alleging El Segundo-based HealthCare Partners has failed to pay more than $6 million for services provided by the hospital.

Silicon Beach Report Jan. 3: Proterra Raises $140M, Plans to Increase Hiring at City of Industry Plant

Proterra raises $140 million and plans to increase hiring at City of Industry plant, SpaceX to resume launches on Jan. 8, and Mattel working on voice assistant for kids.

OpenGate Capital Sells South American Telecom Company for Undisclosed Sum

OpenGate Capital announced today it sold its portfolio company Getronics LATAM to a South American private investment firm Southern Cross Group for 11 times what they paid for the company in 2012. The Century City-based private equity shop did not disclose financial details of the transaction.

Proterra Raises $140M, Plans to Increase Hiring at City of Industry Plant

Electric bus manufacturer Proterra of Burlingame announced on Tuesday that it has raised $140 million from investors, which will be partly used to start manufacturing and hiring at its City of Industry plant.

Garcetti Unveils LADWP Customer Bill of Rights

Los Angeles Mayor Eric Garcetti on Tuesday unveiled a new customer Bill of Rights for the Department of Water and Power, including a guarantee of new business service connections within 10 business days.

Movers for Week Ending December 30, 2016

West Los Angeles patent portfolio holding company Marathon Patent Group Inc. was this week’s biggest gainer, shooting up 12.4 percent to close at $1.72. Fulgent Genetics Inc., the Temple City-based genetic testing company, also was up big, gaining 11.8 percent to close at $11.57. The week’s biggest loser was Differential Brands Group Inc. of Commerce, which lost 16.3 percent to close at $2.35.

Silicon Beach Report Dec. 30: Core Innovation Capital Raises $71.5M for Financial Tech Investments

Core Innovation Capital raises $71.5 million for financial tech investments, SpaceX loads Falcon 9 for launch, and DirecTV to end $35 a month streaming service.

Core Innovation Capital Raises $71.5M for Financial Tech Investments

Core Innovation Capital of Hollywood, a financial services technology investor, has raised a second fund worth $71.5 million, according to a filing with the Securities and Exchange Commission.

Silicon Beach Report Dec. 29: Faraday Future CEO Ding Lei Steps Down

Faraday Future Chief Executive Ding Lei steps down, Hulu signs 50 Disney movies, and Snap Inc. to compare itself to Facebook on IPO roadshow.

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Faraday Future Leader Ding Lei Steps Down

Faraday Future’s Global Chief Executive Ding Lei has reportedly stepped aside from leading the electric car manufacturer, following a string of negative reports, including the stoppage of construction at its Nevada factory due to a cash shortage, and an exodus of senior executives.

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Deed Shows $270 Million Price Tag in Spruce Goose Hangar Sale

The 1940s-era Spruce Goose hangar in Playa Vista sold last week for close to $270 million, on par with the values of modern office campuses that have recently traded in the trendy market.

Nasty Gal Receives $20 Million Offer From British Retailer Boohoo

Bankrupt women’s clothing company Nasty Gal has received a $20 million offer from British online retailer Boohoo for the company’s intellectual property, the companies announced today.

Snap Acquires Israeli Augmented Reality Firm Cimagine Media

Snap Inc., parent company of mobile messaging app Snapchat, acquired Israeli augmented reality startup Cimagine Media for an estimated $30-$40 million, according to the Calcalist financial daily.

Local Leisure and Hospitality Industry Ends Year on a High Note

A record $20.6 billion of expenditures by tourists to Los Angeles County last year and increases in income made for healthy growth of the leisure and hospitality industry for the year ended in October, according to a new report from Beacon Economics.

Silicon Beach Report Dec. 23: Snapchat Launches Filter Game

Snap Inc.’s Snapchat launches filter game.

NMS Properties Booted as Rental Managers During Ownership Dispute

A judge has agreed to boot Santa Monica developer Neil Shekhter’s NMS Properties from eight properties it manages in Los Angeles while an ownership dispute plays out in the courts.

Gov. Brown Appoints Local Attorneys to Judicial Posts

Gov. Jerry Brown on Friday named six new judges to the Los Angeles Superior Court, including three local private sector attorneys.

Movers for Week Ending December 23, 2016

Pasadena-based Arrowhead Pharmaceuticals Inc. was this week’s biggest mover, gaining 28 percent to end at $1.59. Ares Management LP was also among the week’s movers. The Los Angeles-based global alternative asset manager gained 15 percent to end at $18.45. Malibu toy marketing company Jakks Pacific, Inc. was this week’s biggest loser, dropping 28 percent to end at $5.05.

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San Diego Chargers Agree to Orange County Office Lease

Although the San Diego Chargers have not yet pulled the plug on their hometown, the team is making plans for a possible move to Los Angeles.

Apollo Medical to Merge with Network Medical Management

Apollo Medical Holdings Inc. of Glendale announced Thursday that it is joining with Alhambra-based Network Medical Management Inc. in a stock-for-stock merger.