Los Angeles Business Journal

LABJ WEEKLY EDITION

Clippers Deal Took Six Days of Sleepless Nights

LAW: Dealmaker gives play by play of fast-break NBA team sale.Attorney Bob Baradaran worked like mad for days to shepherd Shelly Sterling’s sale of the Clippers to Steve Ballmer.

By Matt Pressberg August 25, 2014 midnight   $$ Share
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Northrop Aims to Land Big One

Aerospace: Winning bid for spacecraft could lift entire sector.

A winning bid by Northrop Grumman to develop a space plane could help the local industry take wing.

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Name-Dropping Worked for Bank

finance: New handle offered Cappello new life in court fight.

Investment bank Cappello Capital has gone back to work under a new name after a firm-scuttling lawsuit.

Bag Makers Join Plastic Ban Fold

MANUFACTURING: Pair of companies ready for reusable.

Pair of reusable bag makers say they are well positioned to win the sack race if the state adopts a plastic ban.

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HEADLINER

Ex-banker Austin Beutner turns page as Times chief

Ex-investment banker Austin Beutner now looks to make news as publisher of the Los Angeles Times.

Taking Stand for History

Affordable housing project preserves Fatburger’s first spot.

Affordable housing project made preserving the first Fatburger stand a main ingredient.

Will That Monet Fade Away?

Conservation specialist devises index to assess risk for collectors.

Emily MacDonald-Korth’s index system lets collectors frame the value of paintings and other works.

In a Family Way

In less than a year, David Fletcher went from being a single guy to married with two children.

Regional Report

News and notes from communities across Los Angeles County

Woodland Hills’ CGI Strategies in Real Estate has acquired a Franklin Village apartment building for $12.3 million from limited liability corporation Villa Carlotta. Built in 1926, the 50-unit, four-story Villa Carlotta totals 45,644 square feet.

Burning Issue

SAFETY: Sunseeker transforms aerospace coating into line of fire-resistant products.

Sunseeker hopes landing a U.S. Forest Service deal can turn its fire-resistant products into hot properties.

Freight Forwarder’s Shares Advance on Wall Street

SHIPPING: UTi’s new IT system wins over investors despite poor quarter.

UTi’s new IT system helps the freight forwarder make up ground with investors.

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Pizza Chain Decision Puts Box Around Lawsuits

DINING: Domino’s case lays out when franchisees’ workers can sue franchisers.

Decision in Domino’s lawsuit delivers protections for franchisers against lawsuits by franchisees’ workers.

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Data Analyzer Looks to Grow Its Client Numbers

Marketing: Retail sites no longer sole focus of business for Retention Science.

Retention Science looks to get a hold on new sectors for its customer-evaluation data services.

Venture Capital Veterans Put Money on New Firm

INVESTMENT: Duo launch Basepoint to build future away from Rustic Canyon.

Rustic Canyon partners aren’t scared to bid the firm’s brand farewell as they carve out a future as Bravepoint.

Anti-Gang Program Hits Streets in Food Truck

dining: Mobile operation latest rehabilitation venture from Homeboy Industries.

Homeboy Industries, a downtown L.A. anti-gang program, is hitting the road.

News of the Week

Last week’s major news from labusinessjournal.com and other sources

Snapchat co-founders Evan Spiegel and Robert Murphy settled an ownership dispute with Frank Reginald Brown, a former Stanford fraternity brother who claimed to be behind the idea that sparked the disappearing picture app.

calendar

Upcoming calendar of events.

conventions

Upcoming local conventions.

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Carwash Buyer Arrested for Money-Laundering

LEGAL: Investor among group accused in alleged drug cartel scheme.

A downtown L.A. investor who recently purchased a prominent South Park development site was among those arrested last week when federal agents raided the Fashion District in connection with an alleged money-laundering scheme for international drug cartels.

Bill Breaks Chain of Responsibility

Gary Toebben says proposed state legislation on subcontractors would pass the buck on employer responsibility.

Paper Chase

Some local financial executives talked about how the lack of a big-school business degree has impacted their career. So the Business Journal asks:

How important is a degree from an elite school for those who aspire to reach the top of their profession?

Minimum Thought

Mayor Garcetti’s push to increase wages plays to his constituents but will only hurt L.A. businesses.

P. Jacob Yadegar wants to lower the boom on Mayor Eric Garcetti’s proposal to raise the minimum wage.

School District Digs Hole on Subway

Joel Epstein doesn’t dig the Beverly Hills school district using construction bond money to fight plans for a subway.

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Taking Off

L.A. manufacturers get lift from Chinese growth

Trade: Rising middle class in China is helping sell local exporters on the communist country as a valuable market.

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Business Wages War Over Hike

Politics: Minimum-pay raise feared as too much for city.

Politics: Business groups hope to minimize the damage from a proposed minimum-wage hike in the city of Los Angeles.

Lender Steers Way to Texas

Banking: Hanmi joins rivals in chasing out-of-state growth.

Banking: Koreatown’s Hanmi is in a state of expansion with its acquisition of Texas’ United Central.

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Redondo Pursues Tourist Beach Head

Development: City fights wave of resistance to waterfront projects.

Development: Redondo Beach still works to shore up its waterfront despite some local activists making waves.