LA FINANCERecent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
DINING: Pizza chain Fresh Brothers cuts in investor to feed growth.
Fresh Brothers decides to take dough from Nolan Capital to feed the pizza chain’s expansion.
ACQUISITION: Tishman Speyer pays $25 million for couple of properties.
The company that owns New York’s Rockefeller Center is making a foray into L.A.’s up-and-coming Arts District.
El Segundo-based sporting goods retailer Big 5 Sporting Goods was this week’s biggest mover, gaining 8 percent to end at $16.99. Kilroy Realty Corp. Real Estate Trust was also among the week’s movers. The DTLA real estate corporation gained 5 percent to end at $70.11. Specialty pharmaceutical company Ritter Pharmaceuticals Inc. was this week’s biggest loser, dropping 14 percent to end at $1.70.
INTERNET: Peter Guber-led acquisition of Team Liquid could prove game-changer.
Peter Guber has drafted a veteran team of investors in his move into the e-sports field
Wells Fargo & Co. announced today that the company’s Chief Executive John Stumpf is retiring and will step down as chairman and chief executive, effective immediately.
Century City-based pharmaceuticals company Ritter Pharmaceuticals Inc.was this week’s biggest mover, gaining 17 percent to end at $1.97. Big 5 Sporting Goods Corp. was also among the week’s movers. The El Segundo-based sporting goods retailer gained 16 percent to end at $15.74. Patent acquisition company Marathon Patent Group was this week’s biggest loser, dropping 14 percent to end at $2.42.
Restrictions push Chinese investors away from higher-price single-family residences to condos
Condo projects could get a boost as Chinese investors move away from costlier single-family homes.
GOVERNMENT: Marijuana firms scramble to solve pending permitting issue.
The prospect of legalized marijuana has city and vendors scrambling for licensing regime.
The long-awaited end to the tronc-Gannett saga might be near. Then again, it might not be. The possibility of the announcement of a deal on Monday for Gannett, the newspaper chain and publisher of USA Today and other dailies, to purchase Los Angeles Times parent tronc was first reported by Politico on Sunday.
TECHNOLOGY: Kind Financial aims to keep pot firms compliant.
Kind Financial switched focus to also put money on pot tracing and tracking software.
ACQUISITION: Deal grows KLM’s landlord presence at Third Street Promenade.
The sleek storefront that is home to Tesla Motors Inc.’s showroom on Santa Monica’s Third Street Promenade has sold for about $15.6 million, or roughly $5,200 a square foot, to the same company that purchased the Promenade’s Apple store in 2014.
The L.A. City Attorney’s Office has reached a $13.5 million settlement with U.S. Bank to resolve allegations that the bank allowed hundreds of foreclosed properties in Los Angeles to fall into disrepair, officials announced Thursday.
Two Inglewood apartments sold this month to an investor planning to renovate the units and lift rents as part of a plan to capitalize on the city’s appeal to residents priced out of neighboring Westside markets.
The Panda Restaurant Group announced plans today to expand their family office’s investment platform by bringing in Founding Partner and Managing General Partner of Breakaway Capital Warren Woo, and former Managing Director at Wells Fargo & Co. Carey Do Kim to the investment arm of the Cherng Family Trust Office in Los Angeles.
Executives at Santa Monica-based ServiceMesh Inc. raked in nearly $100 million in bonus cash by bribing a former Australian banking executive, according to charges filed Tuesday by federal prosecutors and the Securities and Exchange Commission against the banker.