Auctioneer Has Lots in Its Pouch
Nate D. Sanders house handling items from ‘Captain Kangaroo.’
Huge collection of items from classic kids’ show “Captain Kangaroo” gets local house hopping.
Former Clients to Get Convicted Accountant’s Files
INVESTIGATION: Plaintiffs hope hard drives will help lawsuits against bank.
Politicians and campaign organizations suing a local bank over money stolen by campaign accountant Kinde Durkee could get their hands on more evidence in coming weeks.
Shares Rise as Oaktree Beats Expectations
Oaktree Capital Group LLC shares rose after the company beat Wall Street expectations again with first-quarter results reported Tuesday.
Judge Orders Colony to Proceed With Casino Sale
A New Jersey judge has ordered Santa Monica firm Colony Capital LLC to proceed with the sale of an Atlantic City hotel and casino to the operator of an online poker site.
Depression-Era Stock Brokerage Smiles at Merger
INVESTMENT: Davidson offer too good to pass up for Crowell Weedon.
Downtown L.A. stock brokerage Crowell Weedon & Co. was founded during the Great Depression – and its age was showing.
Montana Firm Buys L.A.’s Oldest Brokerage
A Montana stock brokerage has bought downtown L.A.’s Crowell Weedon & Co., the oldest local brokerage and one of just a few remaining in Los Angeles.
Medical Employee Firm’s Stock Gets Shot in Arm
HEALTH CARE: Increase in patient visits helps boost shares of IPC.
Investors check into IPC after the medical employee business reports healthy quarter
Gem of a Deal?
Firm polishes up diamonds as investment
Chris Duffield and Kristopher Schellhas hope to polish up investors’ portfolios with diamonds.
L.A. Banker to Announce Syrian Reconstruction Fund
A Los Angeles banker, the head of a Middle Eastern investment bank and retired General Wesley Clark plan to announce Monday the formation of an investment fund to help rebuild Syria.
BBCN's Quarter Hurt by Bad Loan
Koreatown bank holding company BBCN Bancorp’s earnings fell well short of investors’ expectations, thanks in part to one bad loan.
Lower Wilshire Profit Better Than Expected
Wilshire Bancorp Inc. on Monday reported sharply lower first-quarter profits compared to last year, though the results topped Wall Street expectations.
Brokerage Takes Stock of Poland
INVESTMENT: Wedbush aims to tap Warsaw exchange.
Stock brokerage Wedbush is betting its zloty on Poland’s Warsaw exchange as a revenue generator.
Fashion Retailer’s Equity Arrangement Tailor Made
FINANCING: Owners of Planet Blue retain larger stake with debt transaction.
Santa Monica retailer and fashion brand Planet Blue needed cash to buy more inventory, redo its website and attract more online customers.
City National Reports Higher Profit
Downtown L.A. bank holding company City National Corp., parent of City National Bank, on Thursday reported higher first-quarter net income that fell just shy of investors’ expectations.
BBCN to Buy Chicago Bank
BBCN Bancorp is heading east with Tuesday’s announcement that it plans to acquire a Chicago-based Korean-American bank for $4.6 million.
Sequencing Venture Capital
Special Report: Tech Finance
Business Journal takes a step-by-step look at how funding needs are met as tech startups mature, with profiles of local investors.
Bonds Break At Brokerage
INVESTMENT: Vets exit TCW as Carlyle takes over.
TCW can no longer bank on a stable image as veteran executives continue to jump ship.
Green Dot CFO To Depart
Monrovia’s Green Dot Corp. is in the market for a new chief financial officer after John Keatley announced he plans to leave the company by September.
Fired KPMG Auditor Is Prominent L.A. Businessman
The fired auditor at the center of a Los Angeles insider trading case has been identified as Scott London, a longtime partner in the downtown L.A. office of accounting firm KPMG and a board member of the Los Angeles Area Chamber of Commerce.
Private Equity Firm Sees Filter Maker as Pure Play
ACQUISITION: Vance Street takes controlling interest in Micronics.
The filters that separate precious metals from wastewater at a mine or pull impurities out of milk at a dairy aren’t expensive, but they’re vital pieces of equipment that companies will continue to buy if they’re reliable.
Suitor for Skin-Care Firm Rubs In an Improved Offer
HEALTH CARE: Valeant’s latest bid for Obagi might fall short as stock surges.
Valeant fleshes out a bigger offer for skin-care products company Obagi.
Stocked Up
Farmers bank keeps share number low, value high
Is Farmers & Merchants Bank the Berkshire Hathaway of Los Angeles?
Bank Created Little Interest
LENDING: Evergreen can’t even sell off its charter.
Evergreen International Bank checks out after failing to find a buyer for its assets or charter.
Auctioneer Has Pen Pals
Fitzgerald poems and Richard III signature to go up on block.
Nate Sanders hopes poems by F. Scott Fitzgerald and Richard III’s signature have the write stuff with bidders.
Shapes Of Future
MANUFACTURING: Keck-Craig out of its depth competing with 3-D prototypes.
Old-school Keck-Craig found itself out of shapes when competing with 3-D modelers for prototype work.
Skin Care Company Doesn’t Hide From Suitor
HEALTH CARE: Obagi accepts acquisition offer from Montreal’s Valeant.
Successful suitor Valeant fleshes out deal for skin care products maker Obagi.
Building Buyers Welcome Wells Fargo Into Fold
INVESTMENT: Oaktree, National Financial praise bank as stable tenant.
When Wells Fargo & Co. pays its rent next month, the San Francisco banking giant will be sending a few big checks to Los Angeles.
Traders Crank Volume on Plastic Resin Company
INVESTMENT: Cereplast activity partly fueled by new shares from debt deals.
Investors have turned up Cereplast’s stock trading volume as they attempt to sound out the plastic resin maker’s future.
Success in the Bag?
FOOD: Snak King restyles packaging of Whole Earth brand to accent flavor over health benefits.
Snak King hopes shoppers bite on the refocus of its Whole Earth line from healthy to tasty products.
Growth Factors
Tightened credit standards at banks have prompted businesses to turn to factors for high-cost, short-term loans.
Seeking Clients Who’ve Never Heard of Factoring
Fast A/R Funding uses online advertising to pursue clients outside of factoring’s traditional sectors.
Bad Buzz For Electric Sedan
AUTOMOTIVE: Coda may seek sale as firm grinds gears.
Coda brings in investment banker as the electric car maker spins its wheels saleswise.
Bank Sheds Nonperforming Loans as Well as CFO
Broadway Federal Bank continued to shore up its balance sheet last month, selling off more than $13 million in nonperforming loans.
Who's Who In Banking & Finance: Keith Sultemeier
Looking to Offer Services Beyond Mortgages
Keith Sultemeier is an outlier.
Who's Who In Banking & Finance: Jim Updike
Once a Customer, Now CEO
Jim Updike’s rise through the credit union industry started at the very bottom with a small loan to buy a TV set in 1969.
Pot Shop Deals Up in Smoke?
BANKING: Wary lenders look to cut ties to properties.
Lenders look to nip deals involving pot shops in the bud before the properties are seized by law enforcement.
Hogwarts Heads for High Seas
Harry Potter fan shop looks to make waves with wizard cruise.
Shop for Harry Potter fans looks to buoy business with wizard-themed ocean cruise.
High-Rise Owner Finds Portfolio Deal Tall Order
REAL ESTATE: Shares fall after MPG reportedly ends search for buyer.
MPG stock falters as property owner comes up short in deal for high-rise portfolio.
Horse Track Hands Reins To New Casino Manager
GAMING: Hollywood Park looks to beef up gambling operations while pursuing mixed-use development.
Hollywood Park puts its money on new casino operator while its mixed-use project isn’t out of the starting gate.
Carlyle Completes Takeover of TCW
The acquisition of downtown Los Angeles asset manager TCW Group Inc. by the Carlyle Group and TCW management has closed, the companies announced Wednesday.
Hollywood Park Casino Employees Informed of Layoffs
The owner of Inglewood’s Hollywood Park Casino plans to fire all 600 casino employees next month as it prepares to hand off operations to a different company, according to a memo sent to casino employees Monday.
Film Star Takes Shine To Tequila
George Clooney and nightclub operator launch liquor line.
Restaurateur Rande Gerber and actor George Clooney hope to catch lightning in a bottle with new tequila.
Two Local Banks Check Out of Acquisition Deal
LENDING: Credit issues at NCAL helped to scuttle move by Grandpoint.
NCAL’s credit issues helped halt its acquisition by Grandpoint.
Private Equity Firm Hopes to Fill Up on Vegetables
INVESTMENT: Brentwood joins in $20 million round for Veggie Grill chain.
Westwood private equity firm Brentwood Associates has doubled down on vegan-friendly restaurant Veggie Grill and will get a tighter grip on the growing company in return.
BBCN Profit Beats Expectations
Koreatown banking giant BBCN Bancorp Inc. posted fourth-quarter profit above Wall Street expectations.
Restaurant Franchiser May Sweeten Investors’ Pot
DINING: DineEquity stock up amid talk of buyback or regular dividend.
DINING – Talk about a share buyback or regular dividend has investors filling up on stock of Glendale restaurant franchiser DineEquity.
Dry-Cleaning With a Hook
CleanCierge’s laundry lockers offer at-home drop-off and pickup.
LAUNDRY – CleanCierge.com co-founders expect business to keep picking up for their drop-off dry-cleaning service.
Sweet Taste Of Victory
Girl Scout camped out at stores in her bid to sell the most cookies.
NON-PROFIT – Kristina Nelson out-boxed her Girl Scout rivals to sell the most cookies in greater Los Angeles.
Medical Industry Acquisitions Give Office Market Shot in Arm
Reports - Overbuilt in the years leading up to the housing crisis and recession, the Santa Clarita Valley’s office market has been nearly one-quarter vacant for most of the past several years.
Hanmi Reports Improved Quarter
The parent company of Koreatown’s Hanmi Bank reported a solid fourth quarter, with profit more than doubling over the same period a year ago as the bank paid out less interest and lost less cash to bad debts.
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