Los Angeles Business Journal

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Brewin’ R&D

New rules let UCLA put money into startups

UCLA may graduate to startup investing now that University of California has axed its funding ban.

OK, Soccer Break’s Over...

Most bank executives wouldn’t brag about how many of their employees were watching sports during the workday. Then there’s Alan Rothenberg.

SpaceX Advances on Right to Bid for Military Launches

Private rocket company SpaceX of Hawthorne has moved a giant step closer towards its goal of launching rockets for the U.S. military.

Scripps Ends Talks With USC

Talks have broken off regarding an acquisition of Scripps Research Institute of La Jolla by USC or a merger or partnership between the two.

Wall Street Dials In to TV-Radio Station Owner

MEDIA: Entravision shares lifted in part by Mexico’s World Cup performance.

Entravision’s shares rise on a triple play of World Cup ratings, ad firm acquisition and a Supreme Court ruling.

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High-End Lockup

STORAGE: William Warren Group thinks outside box with pricey pickup service and bellhops to move items.

William Warren Group looks to box out rivals by offering high-end services to pick up and carry items.

Council to Consider Criminalizing Wage Theft

Two Los Angeles city councilmen on Tuesday called for a crackdown on employers who do not pay their workers the proper amount of wages.

Wine Festival Toasts DIY Approach

Garagiste event looks to open doors for boutique vintners.

Festival at Union Station will raise a glass to ‘garagiste’ vintners.

Violinist Not Ready to Bow Out

Shortly after Andrew Silber opened his Whale & Ale pub in San Pedro, he hired a retired violinist to provide entertainment every Friday night.

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Home Prices Cross Threshold

HOUSING: Median surpasses $500,000 for first time since ’07.

L.A.’s median home price has passed $500,000 for the first time since 2007, but there’s little bubble worry.

L.A. Unemployment Rate Falls

L.A. County’s unemployment rate dipped to 8.2 percent in May as 15,000 more residents found jobs during the month, according to state figures released Friday.

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Home Prices Cross Threshold

The return of the bubble? Thanks to the economic recovery, the Westside tech boom, the end of the foreclosure wave and the return of cash-rich investors, L.A. has hit a milestone: The median home price has topped $500,000 for the first time in seven years.

Here Comes L.A.’s Biggest Residence

Bel-Air project rivals Spelling mansion for county’s largest.

Stakes are high as developer aims to build L.A.’s largest single-family home.

Word of Timely Testing Spurs Interest in Xencor

BIOTECH: Monrovia firm’s trials of its asthma drug breathe life into stock.

Investors breathe new life into the stock of drug maker Xencor as its asthma drug enters clinical trials.

L.A. Approved to Bid for 2024 Olympics

Los Angeles is one of four U.S. cities approved to bid for the 2024 Summer Olympics, the U.S. Olympic Committee announced Friday.

Two L.A. Companies in Line for State Tax Credits

A metal company in Long Beach and a health supplement company in City of Industry have made the final list of 31 companies eligible for state hiring tax credits under a jobs program, Gov. Jerry Brown’s office announced Tuesday.

Barrack Donates $15 million to USC Marshall School

L.A. private equity billionaire Thomas Barrack has donated $15 million to the university’s Marshall School of Business, the university announced Tuesday.

L.A. Employers Plan to Increase Hiring in Third Quarter

Nearly one in four Los Angeles area employers plan to hire more workers during the third quarter, the best showing in several years, according to a survey released today from Manpower Inc.

Mayor Announces Veteran Hiring Program

Los Angeles Mayor Eric Garcetti announced Monday that more than 140 local employers have pledged to hire more than 10,000 veterans over the next three years.

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Bill Aims to Clean Up Grease Theft

REGULATION: State proposal looks to target slick operators.

State lawmaker looks to smooth the way for police to crack down on the theft of used kitchen grease.

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City Tackles New Convention Center Without NFL

TOURISM: Council OKs remodeling plan as scoring football team seems unlikely.

City of Los Angeles looks to field an improved Convention Center as football stadium plans fade.

Bill Aims to Clean Up Grease Theft

The theft of used kitchen grease might seem like an innocuous crime, but the thefts are causing large losses for sellers of biodiesel that depend on the waste to make fuel.

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Incubator-Accelerator Nurses Medical Inventions

HEALTH CARE: Proa looks to fill niche by focusing on tweaks to existing products.

Incubator-accelerator Proa Medical offers a shot in the arm to those looking to improve existing devices.

Grocery Chain Says Workers Trying to Decertify Union

The owners of the El Super grocery chain said that even as some workers were on the picket line, others are trying to decertify the union.

L.A. Gets Federal Manufacturing Assistance

In a major victory for the region, Los Angeles on Wednesday was named as one of 12 metropolitan areas nationwide eligible for $1.3 billion in federal manufacturing assistance.

Convention Center Remodel Moves Ahead Without NFL

Los Angeles city officials on Tuesday moved forward with a plan to remodel the Convention Center without a long-planned football stadium.

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Port Talks Carry Baggage of 2002

shipping: Parties seem open to avoiding costly shutdown.

Analysts say terminal operators and union workers hope to avoid making waves during contract negotiations.

In Presence of Bugatti Greatness

Local attorney and car enthusiast Tim Lappen recently scored the gig of a lifetime: test driving and reviewing a $2.5 million Bugatti roadster.

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City Picks Up Business Pace

GOVERNMENT: Mayor pairs two permits to speed process.

City of L.A.’s small steps on permits could yield big time savings for commercial buildings and restaurants.

L.A. Unemployment Rate Falls

L.A. County’s unemployment rate fell to 8.3 percent in April as 30,000 more residents found jobs during the month, according to state figures released Friday.

L.A. Port Traffic Rises 10 Percent

Traffic at the ports of Los Angeles and Long Beach rose 10 percent in April compared with the same month last year, according to figures released Thursday.

BizFed Endorses Dunn for Long Beach Mayor

The Los Angeles County Business Federation on Monday announced its endorsement of businessman Damon Dunn for Long Beach mayor.

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Aquifer Owner Soaks Up Win

WATER: Judge rejects lawsuits against Cadiz’s desert project.

Plan for Cadiz’s desert aquifer looks ready to heat up after judge dismisses opponents’ challenges.

Teller Job Takes Future Into Account

Bank program offers high schoolers chance to check out business.

Bank program lets high school tellers open window on future careers.

Oil Giant Not Broken Up Over Anti-Fracking Cities

ENERgy: CEO says Oxy will pursue oil projects in other parts of California.

Occidental Petroleum Corp. to make a clean break with anti-fracking communities and focus on other California sites.

BizFed Endorses Shriver for County Supervisor

The Los Angeles County Business Federation on Thursday joined other local business groups in backing Bobby Shriver for county supervisor in next month’s hotly contested primary election.

Survey: Local Companies Bullish on Business Conditions

Nearly two-thirds of local companies say business conditions are improving and 36 percent say they plan to add employees, according to an annual survey from the Los Angeles County Business Federation, or BizFed.

Occidental Will Not Challenge Fracking Bans

Occidental Petroleum Chief Executive Stephen Chazen told analysts Monday that the company’s new California spinoff will not drill in communities that oppose fracking.

Fast Turnaround for Torrance?

AUTOMOTIVE: City looks to Carson in how to replace carmaker.

Nissan’s departure from Carson might offer a roadmap to recovery for Toyota-losing Torrance.

Newscaster Finds New Home in Real Estate

Talk about a career change: Longtime local TV newscaster Laurel Erickson, who used to do hard-hitting stories on housing developments, is now showing houses for a living.

Raise Voice

London-born Roxana Tynan had to bridge some cultural gaps while pushing living wage, union organizing.

London-born Roxana Tynan found her voice speaking up for laborers.

Downtown Leaders Sounding Out Festival Plan

MUSIC: Businesses fear Labor Day weekend event will drive off customers.

Downtown L.A. leaders are questioning if a Labor Day weekend festival will work for businesses.

Businesses Fear Bill for Sick Days

GOVERNMENT: Employers say mandate would cost jobs.

Business owners and groups say a state proposal for three days of employee sick leave just won’t work.

L.A. Employers Added 19,000 Jobs in March

Employers in Los Angeles County added nearly 19,000 jobs in March, led by a rebound in local government services, according to state figures released Friday.

Disappointed by Test Results, Investors Flee Puma

BIOTECH: Sector selloff also a factor as shares of cancer drug maker plunge.

Puma shares take a drubbing as investors are spooked by test results and a sector sell-off.

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In the Dumps

City zones may bury waste haulers

Waste haulers fear getting dumped by city of L.A.’s new franchise zone plan.

City Zones May Bury L.A. Waste Haulers

The city of L.A.’s plan to create franchised zones for commercial trash hauling promises to dramatically scramble a long-established market, creating winners and losers.

Commission Recommends Combining Ports, Regulating DWP

A commission of civic leaders on Wednesday recommended combining the ports of Los Angeles and Long Beach, creating a regional tourism authority and setting up an independent rate-setting body for the Los Angeles Department of Water & Power.

State Chamber Lists Job-Killer Bills

The California Chamber of Commerce released its annual list of “job killer” bills on Wednesday – and the current tally of 26 is fewer than in recent years.

Oil Field Losing Ground to Foes

energy: Urban site may close despite corrections by AllenCo.

Oil field operator fears unfounded fracking allegations could force it to shutter the urban site.