Los Angeles Business Journal

LABJ WEEKLY EDITION

Public Pounding

Market chaos carves chunks from billionaires’ billfoldsIt’s not just 401(k)s that have been roiled in the market downturn. L.A.’s wealthiest have seen billions evaporate.

By Omar Shamout August 31, 2015 midnight   $$ Share

Mine Unearthed as Power Facility

ENERGY: Eagle Crest looks to tap site for use in wind, solar storage.

Eagle Crest digs the idea of using abandoned mine for power storage system.

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Exercise Studio Looks for Lift

FITNESS: Pop Physique mulls selling stake to bulk up chain.

Boutique exercise chain Pop Physique weighs private equity investment to pump up expansion plans.

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Chinese Banks Go Bicoastal

LENDING: Local duo vault into New York with pair of pickups.

Chinese-American banks put their money on the Big Apple with New York pickups.

Dance Fest Aims to Step It Up in Brazil

Insomniac cues up its first electronic music event in South America.

Insomniac Holdings looks to translate the success of its Electric Daisy Carnival to Brazil.

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Gig Tunes Up Musical Vet

Brian Silverman turns spotlight on ’80s rock with singing telegrams.

Musical vet Brian Silverman’s latest career stage involves singing telegrams and heavy metal wigs.

Doll Has Line On Internet

Genesis’ Cayla taps Wi-Fi to converse with children, play games.

Toymaker Genesis hopes its Wi-Fi-enabled My Friend Cayla doll connects with kids.

Songwriter Sends Disney Crowds Off With ‘Kiss’

Walt Disney Co. reached into its storied past to find the perfect song to celebrate the 60th anniversary of Disneyland.

Regional Report

News and notes from communities across Los Angeles County

Industrial Electronic Engineers Inc., a Van Nuys electronics manufacturer, has been chosen as a subcontractor to provide cockpit displays for the Air Force’s F-15E.

Immunotherapy Developer Could Use Shot in Arm

BIOTECH: Analysts like outlook for NantKwest despite post-IPO slide.

Analysts like the prognosis for immunotherapy firm NantKwest despite its post-IPO slide.

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Outside Box

Oak Paper Products brings partner into fold to build state-of-art, automated facility.

Oak Paper Products’ owners look to box in rivals with a new state-of-the-art automated facility.

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Hit Zombie Franchise Shuffles Way to Mobile Play

VIDEO GAMES: Developer Scopely puts ‘Walking Dead’s’ fate in fans’ hands.

Developer Scopely isn’t worried about digging up fans for its “Walking Dead” mobile title.

FTC Hung Up on Settlement in Cellphone Scheme

TECHNOLOGY: Agency still seeks sum from founder of L.A. incubator, ex-partners.

Federal Trade Commission still pursues already dialed-back settlement sum in alleged cellphone scam.

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Shop Buyer Might Have Mixed-Use Plan in Store

REAL ESTATE: Sunset Strip property could welcome retail-hospitality project.

Buyer may use gift shop site to mix it up on Sunset Strip with retail-hospitality project.

Credit Union Faces Future With Video-Chat App

LENDING: Xceed’s staff, financial advisers will be available 24-7 next month.

While mobile banking is a godsend for those who are more likely to have a smartphone than a checkbook handy, there are certainly some people who lament losing the personal touch they get when going to a branch.

Ridesharing Vote Puts Taxi Drivers on Hot Seat

TRANSPORTATION: City of L.A. opens LAX to Uber, peers; OKs complaint line.

When the Los Angeles City Council gave the green light for Uber, Lyft and other ridesharing services to pick up passengers at Los Angeles International Airport last week, there was talk about streamlining regulations for taxicab drivers so they could compete on a more equal footing.

Pot Firm Looks to Cultivate New Business Line

MARIJUANA: Medbox buys farmland to grow product as stock price languishes.

It’s been a volatile year for Medbox Inc.

Olympics Could Prove Downtown Scene’s Mettle

SPORTS: Hotels, eateries seen as added attractions if games return in 2024.

If L.A.’s $6.4 billion bid for the 2024 Olympics is successful, one can’t help but think how different the experience will be from 40 years earlier, when the city last hosted the event.

Public Sector Outworked Private in Job Creation

EMPLOYMENT: Analyst says surge just government erasing recession’s cuts.

Public sector outpaces private in job growth as government employers reverse recession losses.

Calendar

Calendar of events

Conventions

Upcoming conventions

Buyer Has Faith in Former Church Campus

ACQUISITION: Developer pays $30 million for site; plans mixed-use project.

One of the last large land parcels near downtown Los Angeles, a 5.25-acre plot that was owned by a Korean Presbyterian church, has sold to a Beijing developer.

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Control Issues

INTERNET: Viral video firm Jukin Media looks to crack down on rival’s website in move to enforce its licenses.

Jukin Media heads to court to become a bigger player in viral video by enforcing its content licenses.

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Downtown L.A. Takes Bite Out of Restaurants

DINING: High costs, poor access chew up well-reviewed eateries.

Downtown Los Angeles serves up steady diet of high-profile restaurant busts.

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Small Fish

Big order, big trouble for ‘Shark Tank’ winner

Lack of payment from Walgreens proved too tough to swallow for oral supplement maker Marz Sprays.

Subsidies Dry Up For Turf Remover

Grass is no longer green for lawn remover Turf Terminators as water agencies’ subsidies evaporate.