Los Angeles Business Journal

Shoring Up

Business improvement district centered on Venice Boardwalk gains preliminary OK

Venice Boardwalk businesses’ bid for a business improvement district moves forward.

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Japan, China Pace Field of Foreign Firms in L.A.

COMMERCE: Swiss-owned companies rank third among employers.

Japanese- and U.K.-owned firms have carved out the biggest presences in Los Angeles.

City Planning Commission Approves Limits on Short-Term Rentals

The Los Angeles city Planning Commission on Thursday moved to regulate Airbnb and other short-term rentals, imposing time caps and stiff penalties for violations.

L.A. Officials Take Steps to Help Businesses in City

L.A. city officials on Wednesday took several steps to help small businesses and manufacturers.

L.A. Affordable Housing Initiative Placed on November Ballot

The Los Angeles City Council on Tuesday formally placed a labor-backed affordable housing measure on the November ballot.

City Attorney Files Charges Over Illegal Hotels

Los Angeles City Attorney Mike Feuer has filed charges against the owners of four properties for allegedly operating apartment buildings as short-term rentals or full-service hotels.

Some Business Groups On Board With Transit Tax

POLITICS: Infrastructure improvement generates support from L.A. trio.

Local business groups appear split on whether to support a permanent half-cent sales tax hike for transportation projects that the Los Angeles County Metropolitan Transportation Authority is looking to place on the November ballot.

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Desert Projects Sweat Election

POLITICS: Businesses want OKs before new presidency.

Companies behind two Mojave projects fear getting sandbagged by change in White House.

Foreign Investment Down in Los Angeles

While it may seem like foreign investors are gobbling up downtown Los Angeles properties and building lots of megaprojects, foreign direct investment in Los Angeles County has actually fallen in recent years.

13 Top Fortune 500 Companies in L.A. County

Fortune Magazine is out with its annual issue listing the nation’s 500 largest corporations by revenue – 13 of which call L.A. County home. That’s down one from last year as DirecTV, formerly of El Segundo, was merged into AT&T Corp., which has its headquarters in Dallas, TX.

L.A. Employers to Increase Hiring in Third Quarter

Los Angeles employers say they plan to step up hiring during the third quarter, according to a survey to be released Tuesday from Manpower Inc.

Trial to Start Monday in Claremont’s Attempt to Take Over Water System from Golden State Water

Trial is set to begin Monday in the city of Claremont’s attempt to take over a water system from Golden State Water, the private utility serving the city.

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Firms Feel Heat From Homeless

Skid Row business owners feel burned as fires and crime increase at growing homeless encampments.

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AllenCo Energy to Pay $1.25M Fine, Nears Approval to Restart Oil Field Operations

Signal Hill oil company AllenCo Energy has reached an agreement with Los Angeles City Attorney Mike Feuer to pay a $1.25 million fine to settle a lawsuit Feuer brought against the company, moving the company a step closer to reopening its oil field near USC, Feuer’s office announced Thursday.

Election Results Mixed in L.A. County

Tuesday’s elections in L.A. County delivered mixed results for business.

Some Nonprofits at Loss on How to Pay Hikes

GOVERNMENT: Bumps to minimum wage have firms mulling cutbacks, closures.

Some nonprofits face cuts to services to offset impending wage increases.

Supervisor Seats Up for Grabs on Election Day

POLITICS: Voters also to have say on water system sale, digital billboards.

While most attention for this week’s primary election is focused on the presidential and U.S. Senate races, there are also some closely watched local races and issues on the ballot.

Insurance Commissioner Urges Work Compensation Rate Cut

Good news for California employers: State Insurance Commissioner Dave Jones has recommended a 10.5 percent cut in the workers’ compensation premium rate that insurers charge employers.

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L.A. Developers Take Part in Giving to Public Art

GOVERNMENT: Some like to have say in how levy on their projects will be spent.

Some L.A. developers have embraced the city’s 1 percent levy to fund public art projects in the city.

Mayor Eric Garcetti Appoints Two Deputy Mayors to Oversee Economic Agenda

Los Angeles Mayor Eric Garcetti on Friday appointed two deputy mayors to oversee his economic agenda, replacing Deputy Mayor Kelli Bernard, who left earlier this month to take an executive position at Aecom.

Edison CEO Craver to Retire; Pizarro to Take Reins

Edison International announced on Wednesday that Theodore F. Craver Jr., the Rosemead energy company’s chairman and chief executive will retire in September, keeping with the company’s practice of its chief executive retiring upon reaching age 65.

California State Chamber Opposes Ballot Measure to Extend Income Tax Hike

The California Chamber of Commerce announced Monday that it is opposing a likely November ballot measure to extend the income tax increase of Proposition 30 until 2031.

State Bill Would Revamp Rules on Rehab Centers

HEALTH CARE: Operators fear cities could shut down facilities, block new ones.

Owners and operators of drug addiction treatment centers are up in arms over a bill in Sacramento that could give local officials more tools to shut them down or block new rehab facilities.

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Breitburn Gets OK to Tap Bankruptcy Loan

L.A. oil firm Breitburn Energy Partners has received court approval to draw on $75 million in financing to sustain itself during bankruptcy proceedings.

County Unemployment Rate Lowest in Nine Years

L.A. County’s unemployment rate continued its rapid descent in April, falling to its lowest point in nine years.

Wealthiest Angelenos: Donations Down in Weird Year

Some of L.A.’s Wealthiest Angelenos have elected to hold their fiscal backing in an usually contentious campaign season.

Hotel’s Dining Permit Drama Tough To Swallow

DINING: L’Ermitage owners forced to digest stalled restaurant opening.

Dealing with a city bureaucracy is rarely easy for any business, but the ordeal of the owners of the Viceroy L’Ermitage Hotel in Beverly Hills in recent weeks really stands out.

LAFC Soccer Stadium Approved

The Los Angeles City Council on Friday gave final approval for construction of a $250 million stadium complex near USC for the Los Angeles Football Club soccer team.

Local Businesses Reluctant to Hire More Workers Despite Overall Optimism

L.A. County employers are optimistic about their business outlook this year but guarded about future hiring, according to a new Los Angeles County Business Federation survey released Tuesday.

PermaCity Planning Major Solar Rooftop Project

Los Angeles solar rooftop developer PermaCity announced Friday it would build the region’s largest project that will sell power to the city’s grid.

Janitors to Hold Rallies Across State as Contract Deadline Looms

Days before contracts between union workers and commercial building janitorial contractors are set to expire, union leaders have been ramping up the pressure in advance of last-minute negotiations.

Ares Closes $7.85 Billion Private Equity Fund

Century City private equity and debt giant Ares Management announced Monday it had raised $7.85 billion for its fifth global flexible capital private equity fund, Ares Corporate Opportunities Fund V.

A Look Ahead: What’s on the agenda for Los Angeles business in the coming week

ENERGY: Breitburn could lose even more ground with readjusted borrowing base.

Mayday! Mayday? May 1 looms large for executives at troubled L.A. oil firm Breitburn Energy Partners.

AIDS Nonprofit Nursing Development Initiative

POLITICS: Ads running for measure despite refocus on next March’s ballot.

Los Angeles Times subscribers might have noticed little sticky Post-It-size ads on their papers the past couple of weeks, with provocative messages: One had Los Angeles City Hall with a “for sale” sign stamped over it; another with the line “Developer Greed is Choking LA.”

L.A. Residents Less Optimistic About Economy

L.A. residents are less optimistic about the Los Angeles economy this year than last year as the county’s job growth rate is expected to slow for the remainder of this year and next, according to a survey and forecast to be released this morning.

L.A. Council Passes Paid Sick Leave Policy

The Los Angeles City Council on Tuesday voted overwhelmingly to proceed with crafting an ordinance requiring all employers in the city to provide six days of paid sick leave a year to their workers, three days more than mandated under state law.

Some Workers May Clock Back In

LABOR: Wage hikes will raise threshhold for salaried staffers.

Wage hikes will also cost some employers by raising the exemption threshold for salaried staff.

L.A. Unemployment Rate Drops Again

L.A. County’s unemployment rate continued its rapid descent in March, falling to 5.4 percent, closing most of the unemployment gap with the rest of the nation.

Breitburn Shares Plunge After Skipped Interest Payment

Just as investors in Los Angeles oil partnership Breitburn Energy Partners were hoping the worst was over as oil prices have rallied, the other shoe dropped on Thursday – make that two shoes.

Expanded Paid Sick Leave Mandate Moving Forward in L.A.

The city of Los Angeles is a step closer to requiring all employers to provide six days of paid sick leave to their workers, three days more than mandated under state law.

Pivot to Profit

ENERGY: Edison hopes for spark from launch of advisory, water management divisions.

Edison International looks to power up its revenue by forming advisory and water usage divisions.

‘Jedis’ May Prove Positive Force for City of L.A.

DEVELOPMENT: Council looking at plan to create business incentive zones.

Will the force be strong for business in Los Angeles?

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‘Gig’ Workers May Organize

Business groups come together against a state measure allowing contract workers to form unionlike groups.

Governor Signs Landmark Legislation to Raise California's Minimum Wage

Gov. Jerry Brown joined supporters from across the state today in Los Angeles to sign landmark legislation that makes California the first state in the nation to commit to raising the minimum wage to $15 an hour by 2023.

Former L.A. Councilman Bill Rosendahl Dies After Battle with Cancer

Bill Rosendahl, the gregarious and outspoken former Los Angeles City Councilman, died Wednesday morning after a four-year battle with cancer. He was 70.

State Chamber: Fewer Job-Killer Bills This Year – So Far

The California Chamber of Commerce released its annual list of “job killer” bills on Tuesday – and the tally of 18 so far is fewer than in recent years.

Governor Backs Proposal to Hike Minimum Wage to $15

Gov. Jerry Brown and state legislative leaders on Monday backed a proposal to hike the statewide minimum wage to $15 an hour by 2023.

Business Groups Get Bad Feeling Over Sick Days

COMPENSATION: City of L.A. mulls more paid leave as part of July wage increase.

Think L.A.’s minimum-wage hike that kicks in July 1 is all set? Think again.

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County Unemployment Falls to Eight-Year Low

EMPLOYMENT: L.A. added 45,000 jobs in February, led by health services sector.

Los Angeles County’s unemployment rate hits lowest point in eight years as health services pace job creation.

West Hollywood Approves Smaller Minimum Wage Hike

Employers in West Hollywood won a major victory early Tuesday morning as a majority of the City Council backed a smaller hike in the minimum wage to $12 an hour, rather than the $15 an hour backed by staff and enacted in the city and county of Los Angeles.

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