Los Angeles Business Journal

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Ports’ Backlog Sinks Schedules

SHIPPING: Executives discuss how they fight to stay afloat.Execs at port-dependent businesses discuss being left high and dry by ongoing labor negotiations.

By Subrina Hudson February 23, 2015 midnight   $$ Share

National Technical Acquires Trace Laboratories

National Technical Systems Inc., a Calabasas engineering and testing company, announced Thursday it has acquired Trace Laboratories in Baltimore.

L.A. Cargo Volumes Fall in January

The Port of Los Angeles saw January cargo volumes fall nearly 23 percent compared with the same month a year ago, a result of the slowdowns and partial shutdowns that gripped the local ports during contentions contract negotiations between shipping lines and dockworkers. Those negotiations wrapped up last week.

Jakks Shares Plunge Despite Strong Earnings

Malibu toy maker Jakks Pacific Inc. is back in the black, reporting its first profitable year since 2011.

Port City Leaders Pledge Cooperation to Boost Competitiveness

Amid a backlog of shipping containers that have amassed during recent congestion at the twin ports of Los Angeles and Long Beach, mayors of both cities say they will work together rather than compete on new efforts aimed at addressing how changes in ocean trade affect the ports.

Labor Fight Cuts Into Long Beach Cargo Numbers

The amount of cargo that moved through the Port of Long Beach in January took a nearly 19 percent nosedive compared to the same month last year because of ongoing congestion and labor strife, officials said late Wednesday.

Air Advisory Issued After Torrance Refinery Blast, Gas Prices Rise

A Wednesday morning explosion at the Exxon Mobil Corp. refinery in Torrance injured four workers and pushed up the local price of wholesale gasoline. The workers suffered only minor injuries, according to an Exxon spokesperson.

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Mattel, Needing a Hit, Introduces Siri-Like Barbie

Mattel has been in desperate need of a hit toy. After reporting that Barbie sales had plunged, again, in the final quarter of last year, the El Segundo toymaker’s interim Chief Executive Christopher Sinclair told investors the company would make changes “with a heightened sense of urgency.”

Aerojet Rocketdyne CEO Resigns

Warren Boley has abruptly resigned as the president of the Aerojet Rocketdyne, the rocket engine manufacturer with facilities in Chatsworth.

Virgin Galactic to Manufacture Rocket in Long Beach

Virgin Galactic is moving the development and manufacturing of its LauncherOne satellite-carrier rocket from the Mojave Air & Space Port to Long Beach.

Jakks Pacific Obtains Warcraft Licensing Rights

Malibu toymaker Jakks Pacific Inc. has obtained the licensing rights to create toys, costumes and other items for the upcoming movie Warcraft.

PMA to Suspend Weekend and Holiday Activity at Ports

After halting the loading and unloading of ships last weekend at the ports of Long Beach and Los Angeles, shippers and terminal operators are upping the ante by suspending upcoming weekend and holiday activity, denying higher weekend and holiday pay to longshore workers.

Shippers Threaten Port Lockout

Frustrated after more than nine months of contract negotiations with the West Coast dockworkers’ union, the chief executive of the shippers bargaining group Pacific Maritime Association on Wednesday revealed details of its offer to the union in a conference call and threatened a shutdown of operations at West Coast ports.

New Mattel Chief Promises ‘Urgency’ After Weak Earnings Report

Mattel Inc.’s Interim Chief Executive Christopher Sinclair told investors Friday the El Segundo toymaker will make needed changes “with a heightened sense of urgency” as the company reported weak sales and earnings for the final quarter of last year.

OSI Moving Camarillo Operations to Hawthorne

Hawthorne manufacturer OSI Systems Inc. will vacate its Camarillo plant by April 30 to consolidate operations at its headquarters, company officials reported to the state’s Employment Development Department earlier this month.

Mattel Falls on CEO Resignation, Sales Estimates

Mattel Inc. shares dropped 5 percent Monday after the El Segundo toy maker announced that Bryan Stockton resigned as chairman and chief executive, and that early estimates of recent quarterly sales and net income fell off sharply from last year.