Los Angeles Business Journal

LABJ WEEKLY EDITION

Century City Image, Logo Looking Up

Chamber highlights towering skyline to tout neighborhood.

Century City Chamber of Commerce is high on its new double-skyline logo.

Taking Top Honors After Sub Mission

Mike Margolis drove down to San Diego with his family earlier this month to cheer on his oldest son, 18-year-old James Wu, who was participating in an unusual event: an international robo-sub competition.

Regional Report

News and notes from communities across Los Angeles County

Avalon Laboratories Holding Corp., a Rancho Dominguez maker of catheters and medical tubing products, has been acquired by Nordson Corp., a Westlake, Ohio, parent company of a range of businesses with offices in more than 30 countries.

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Niche Focus

INVESTMENT: VentureOut looks to back LGBT entrepreneurs but some investors may question breadth of opportunity.

VentureOut sees an untapped niche in LGBT entrepreneurs.

Drink Maker’s Shares Bubble Up on Wall Street

BEVERAGES: Reed’s stock reverses course on basis of strong second quarter.

Investors see soft-drink maker Reed’s glass as half-full after strong second quarter.

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Older Vehicles Wear Well on Aftermarket Business

AUTOMOTIVE: Shares rise as Motorcar Parts exceeds analysts’ expectations.

Strength of aftermarket sector and a new product line accelerates shares of Motorcar Parts of America.

Company Tries Hand at Longer Touchable Videos

TECHNOLOGY: Approach by Cinematique lets viewers stockpile touted products.

Cinematique hopes to make the scene with interactive videos that tout products.

Experienced Hires Help Get Job Done for Broker

REAL ESTATE: Shares of Marcus & Millichap spike after strong second quarter.

Marcus & Millichap’s hiring of veteran workers proves a positive experience for the company’s stock.

Drug Maker Displays No Ill Effects From Bad News

BIOTECH: Investors snap up Amgen despite test failure, recall of Aranesp syringes.

Amgen shares enjoy a healthy spike despite a drug test failure and product recall.

Ratings Agency Plans to Test Insurers’ Reserves

INSURANCE: CEO at parent of companies says rapid growth helped spur review.

Two insurance companies owned by Malibu billionaire Don Hankey are under review by ratings agency A.M. Best Co., which said it is concerned that the insurers might not have enough reserves to keep pace with their growth.

News of the Week

China’s largest commercial developer has purchased the former Robinsons-May site in Beverly Hills, one of the most prominent retail locations in the L.A. area.

calendar

Upcoming local events.

conventions

Upcoming local conventions.

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Tower Buyer Orders Up Tall One in Downtown

ACQUISITION: Suitor to pay $270 million for L.A.’s second-highest building.

Aon Center, the second-tallest building in Los Angeles – and the state – is close to being sold for about $270 million.

Time to Dig ‘Deeper’

David Rattray sees “Deeper Learning” as a smarter way to prepare L.A.’s future workforce.

Is This City Falling Apart?

The recent burst water pipe on Sunset Boulevard that flooded UCLA was just the latest and biggest infrastructure failure in the city. So the Business Journal asks:

Are you concerned about L.A.’s infrastructure?

Taken for Ride?

State insurance commissioner’s proposed ridesharing regulations would steer consumers wrong.

Ernie Csiszar rips the state insurance commissioner for trying to put the brakes on ridesharing services.

Job Training Could Work in War on Poverty

The best weapon in the war on poverty is job training, Hasan Ikhrata writes.

Positive Drug Trials Create L.A.’s Newest Billionaire

BIOTECH: Unfazed Alan Auerbach leads Puma’s hunt for cancer cure.

Puma’s Alan Auerbach is nursing a billion-dollar fortune after positive cancer drug trials boosted company stock.

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Tenant Apple Shines in Deal

REAL ESTATE: Retail box sells for record $100 million.

Core value of Apple’s Third Street Promenade shop produces record $100 million deal.

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Competitor Seeks Medical Release

HEALTH CARE: SignatureMD says concierge rival ties up docs.

SignatureMD accuses MDVIP of sewing up the concierge service market with its doctor contracts.

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Tilted Field?

Foes fear labor’s lien proposal will topple businesses

Business groups battle labor-backed proposal allowing liens against companies accused in wage cases.

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Nut Shop Still Buttering Up Customers

Magee’s merchant touts family’s history at farmers market.

Customers still shell out for peanut butter from Magee’s House of Nuts at the Original Farmers Market.

Daughter of Late Rocker Cues Up Film

Documentary turns to Kickstarter for story of Chicago guitarist.

Michelle Kath Sinclair hopes to drum up money from Kickstarter for a documentary on her late guitarist father.

Table Maker Throws iPad A Curve

J. Robert Scott looks to furnish tablets with style for $2,910.

J. Robert Scott looks to tap stylish users of iPads for its $2,910 table for tablets.

Sharing Athletic Spirit

From soap opera extra to crew director, Steven Barber has had every job in the “biz” over the past 25 years.