LABJ WEEKLY EDITION

Inglewood OKs Arena Talks

SPORTS: Clippers owner Steve Ballmer eyes new venue for team by 2024.

Inglewood council signs off on a proposed arena to house the Los Angeles Clippers.

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Baby Food Company Gobbles Up $4.1 Million in Venture Funding

Organic baby-food startup Caer Inc., which does business as Yumi, announced a $4.1 million seed round last week, taking money from a mix of angel investors and venture capital outfits.

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New Chief Sets Sail at Port

Mario Cordero aims to buoy Long Beach port’s growth efforts

Newly appointed Port of Long Beach Executive Director Mario Cordero spent time with the Business Journal to discuss the outlook for one of the region’s biggest economic drivers.

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Honda Paces Field of Foreign-Owned Companies

HEADQUARTERS: Pending exit of Toyota shakes up list of businesses in L.A. County.

American Honda Motor has homed in on the top spot of foreign firms with U.S. bases in L.A. County.

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Brand Licensors See Clothing Maker as Good Fit

FASHION: Two suitors eye BCBG Max Azria Group’s assets including store leases.

Don’t write off BCBG Max Azria Group yet.

New Hires to Cover Both Sides of Private Equity

EMPLOYMENT: Adam Feit, Matthew Dalany to bolster Union Bank’s sector efforts.

It seems like a new private equity shop rears its head in Los Angeles every week, and the banks have noticed.

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California Market Center Opens Door to Investor

SALE: Brookfield acquires hefty stake from Jamison in deal valued at $220 million.

Koreatown-based Jamison Properties’ recent deal to sell a significant stake of its California Market Center to New York-based Brookfield Asset Management Inc. has brought a forward focus to the 1.8 million-square-foot campus in downtown’s Fashion District.

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Inglewood No Guaranteed Balm for Ballmer

The Los Angeles Clippers could be joining the Rams and Chargers on the bandwagon to Inglewood.

Lon Morton’s Legacy

Valley investment management firm moves on after founder’s death.

Entertainment Takes Lead Role in CEO Pay

COMPENSATION: Disney’s Robert Iger at top despite dip.

The entertainment sector made a big production out of exec pay last year, with Disney’s Robert Iger and Activision’s Robert Kotick leading the CEO list.

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Calendar of Events

Conventions

Upcoming Conventions

Debt Piled Up For Dividends

Rash of retail bankruptcies has raised concerns over loading firms with debt to pay dividends.

Education Firm Stays Home in $22 Million Deal

ACQUISITION: Pacific Oaks buys office property it leased with potential for expansion.

Pacific Oaks Education Corp. has acquired the Pasadena office complex where it leases space for $21.5 million – or $287 a square foot – aiming to keep the site as its permanent home with room to expand.

'World of Dance’ Moves to L.A. Beat

World of Dance steps up its profile with an NBC program that unites a range of L.A. talent.

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Snap Aims for Street Smarts

INTERNET: $200 million buys tracker of ground-level data.

Snap moves to improve its ground game with the pickup of street-level ad data tracker Placed.

$73 Million Deal For Coastal Country Club

New owner Bay Club picks up property as part of drive for gym, leisure holdings in California.

Bay Club Co. has acquired Manhattan Country Club in Manhattan Beach for $73 million, the latest addition to the San Francisco-based company’s holdings in Southern California.

Newsroom Change At Business Journal

Jonathan Diamond to take over magazines, conferences; Jerry Sullivan named new editor.

Former Orange County Business Journal Editor Jerry Sullivan replaces Jonathan Diamond as LABJ editor.

PAGE 3: Star Appeal Lifts Jet

Cirrus Aircraft turned heads on a recent jaunt out of Santa Monica Airport, where air traffic controllers, pilots and even a guy polishing a vintage auto collection gave figurative and literal thumbs up to its new Vision Jet.

Fund Secures Side Deal

INVESTMENT: Marlin’s eye stays on Tangoe offer while acquiring software business.

Marlin Equity Partners picks up educational software firm while pursuing Tangoe deal.

Market Bags Imitator

Retail: Trader Joe’s win over Canadian shop seen as boost to trademark law.

Trader Joe’s trademark victory over a Canadian imitator is hailed as borderline win.

MLS Operators Look to Mergers as Online Rivals Click With Buyers

Curbed Appeal

Operating a multiple listing service has become a tough sell as rivals flourish online.

Kombucha Pioneer Tees Up Second Site in Vernon

BEVERAGES: Millennium Products looks to pour it on as healthy drink sales boom.

Millennium Products bottles up more space to boost output of its kombucha drinks.

Long Beach Picks Up L.A.’s Trash Franchise Plan

WASTE: City Council looks to enact policy in five years; business groups blast costs.

Long Beach City Council moves to adopt a trash franchise system that hiked costs in Los Angeles.

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Modular Construction Right Fit for Marriott Hotel

DEVELOPMENT: Project expected to come together faster, with added revenue.

Builder of Hawthorne Marriott put the project together with modular construction in mind.