Lenders compete to help business owners tap dividend recapitalizations for hefty payouts while loading their companies with debt. Once limited, the practice nears record pace.
Bankers take dividend recapitalizations mainstream, letting business owners load up on money while loading their companies with debt.
finance: New handle offered Cappello new life in court fight.
Investment bank Cappello Capital has gone back to work under a new name after a firm-scuttling lawsuit.
Banking: Hanmi joins rivals in chasing out-of-state growth.
Banking: Koreatown’s Hanmi is in a state of expansion with its acquisition of Texas’ United Central.
Ari Bass was one of many L.A. dads who spent a couple weeks in August driving a van on a family vacation.
Port-commissioned app to help drivers with Desmond project.
Internet Long Beach port builds bridge to future with app to help navigate traffic during Gerald Desmond work.
Koreantown bank holding company Hanmi Financial Corp. completed its acquisition of United Central Bank of Garland, Texas, over the weekend in a deal that gives Hanmi a presence in Illinois, Texas and Virginia.
Quest Nutrition’s new products offer buyers taste of protein.
Quest Nutrition hopes for healthy returns from its new milk protein-based chips.
Downtown stock brokerage Wedbush Securities in Los Angeles has responded to a financial industry group’s allegations of problems in its market access operations over the past several years.
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.
LENDING: Longer deals take hold at Koreatown institutions.
Some Koreatown banks have broken with a long tradition of short contracts for CEOs.
Pelican Products looks to secure new market with sturdy approach.
Security case maker Pelican Products has a brand new bag: luggage.
Great American Group lost money in the quarter ended June 30, but it indicated Thursday that it could swing to a profit now that it’s combined with West L.A. investment bank and brokerage B. Riley & Co.
Santa Monica startup airline Surf Air has announced big expansion plans, including the addition of as 15 new planes to its fleet and as many as 13 new destinations.
LENDING: Celtic Capital spins off from bank parent PacWest in order to maintain focus on high-risk asset-based loans.
Principals at newly spun-off Celtic Capital see the risky asset-based loan business as a safe bet.
APPAREL: Cherokee’s expansion plan proves good fit on Wall Street.
Brand licensor Cherokee’s expansion plan grows on investors despite a dip in dividends.
From soap opera extra to crew director, Steven Barber has had every job in the “biz” over the past 25 years.
Isotech uses falcons, hawks to chase birds from client properties.
Isotech looks to feather its nest by offering falcons and hawks to chase off pesky birds at client properties.
INVESTMENT: Many cultivate young CEOs before they’re rich.
Money managers look to get a jump on future millions by hooking up with tech entrepreneurs before they’ve raised any funds.
Molina Healthcare Inc. reported meager earnings after markets closed Wednesday, falling well short of Wall Street expectations on profits.
LENDING: Non-profit seeks Villaraigosa’s help on local impact of bank acquisition.
An advocacy group protesting a local bank transaction wants former Los Angeles Mayor Antonio Villaraigosa to broker a deal and end the dispute.
SCE Federal staff takes turns offering financial tips on daily program.
SCE Federal Credit Union hopes its star rises with employees’ daily appearances on TV show “Tu Mundo Hoy!”
BANKING: Investment in Pan American could pay off in public-service benefits.
Investing institutions expect to buoy their business by sinking $6.3 million into floundering Pan American.
City National Corp. reported strong second-quarter earnings after markets closed Thursday, posting net income of $66.7 million ($1.11 a share), up 12 percent over the same period a year ago.
More than a dozen West Coast banks, including eight in Los Angeles County, pumped $6 million of new capital into East L.A. lender Pan American Bank, which was on the verge of being shut down by regulators.
Shares of Koreatown lenders BBCN Bancorp Inc., Hanmi Financial Corp. and Wilshire Bancorp all closed slightly down Tuesday after the three banks reported earnings.
FINANCE: Capital raises show strength of once-snubbed sector.
Small lenders look to capitalize on big investors’ surging interest in the sector.
MEDIA: Lions Gate among content owners boosted by bid for Time Warner.
Producer-distributor Lions Gate’s star rises on increased demand for TV and movie content.
Most bank executives wouldn’t brag about how many of their employees were watching sports during the workday. Then there’s Alan Rothenberg.
GOLD: Rosland Capital to adapt U.S.-centric pitch in hopes of stoking interest.
Expansion into Britain may test the mettle of brokerage Rosland Capital.
finance: Westlake expands services to major dealerships.
Subprime auto lender Westlake Financial Services has taken a turn for major dealerships.
Los Angeles City Attorney Mike Feuer has asked a court to appoint a receiver to oversee the actions of two organizations run by the Department of Water and Power and a local union.
Washington law firm Venable has acquired Westwood firm Weingarten Brown, the firms announced Tuesday.
LENDING: High court may decide whether Korean or L.A. business can use name.
Downtown L.A. lender Hana Financial Inc. lost the latest round in its long-running trademark fight with South Korean banking conglomerate Hana Financial Group last year.
FINANCE: Monroe Capital says Warren Woo used its assets to set up his business.
Ex-employer of Warren Woo alleges high-profile executive went for broke using its assets to launch firm.
Engineering: Firms have noticed that there’s plenty of work in Los Angeles, so they’re opening offices and beefing up here.
The development boom is luring out-of-town firms to Los Angeles and leading local firms to expand.
International: Small L.A. bank halts remittances to war-ravaged nation.
Carson lender Merchants Bank of California is one of the smallest banks around, but it plays an outsized role in war-ravaged Somalia: The bank processes about two-thirds of the $215 million sent from Somali immigrants in the United States to their relatives back home, according to non-profit groups there.
On a Thursday in May, Hugh Hewitt was not at the Burbank studio where he records his nationally syndicated radio program or at the downtown Los Angeles law firm offices where he is a partner.
Market consolidation has allowed remaining lenders to fill their executive ranks with top-drawer veterans.
LENDING: Borrowers fault National Bank of California for role as processor.
Class-action suits against payday lenders might have stalled a life-saving sale of National Bank of California.
Brokerage’s app lets family, friends share investment moves social-network style.
Ditto Trade’s app lets friends and family share and share alike by tracking their stock moves.
LENDING: Remarketing sees increased need for its services among financial institutions.
One firm’s regulation is another’s windfall.
Workers at an El Super grocery store in East Los Angeles picketed Thursday in what could be a prelude to a strike at a handful of the chain’s locations.
Trying to match generous tax incentives in other states and keep entertainment production jobs here, the California Assembly on Wednesday approved an expanded version of its tax credit program for the film and television industries.
Pride looks to swipe customers with card donation program.
Pride Card Services takes credit for donating part of its processing fees to non-profits.
INVESTMENT: Small private brokerage B. Riley to go public via merger with property appraiser Great American Group.
B. Riley looks to raise its stock by going public through a reverse merger with Great American Group.
INTERNET: Analyst credits TrueCar for backing off higher price projections.
TrueCar’s shares trade above IPO price after the auto-shopping site put the brakes on higher projections.
Three major grocery store chains and the union representing Southern California grocery workers have reached a tentative deal for a new contract, both sides have announced.
West L.A. brokerage and investment bank B. Riley & Co. is going public in a merger with Great American Group Inc., a Woodland Hills liquidation company.
EXPANSION: FirstKey opens L.A. office to target sector in California, Western states.
FirstKey Lending, a New York firm specializing in loans to owners of single-family rental homes, has opened an L.A. office with plans to build business in California and other Western states.
Big stakes in a single business can offer more control but also heightened risk.