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Shwanika Narayan

Stories by Shwanika

Ports Set Cargo Movement Records for 2017

With still a month to go in 2017, the Ports of Los Angeles and Long Beach have set new records in container movement for the year.

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Big Chunk of Vernon Cold Storage Changes Hands

Nearly 1 million square feet of cold storage space trades in Vernon to growing warehouse company.

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Warehouse Exchange Adds to Potential Inventory

AWI partnership expands digital marketplace’s reach as third-party space broker

West Los Angeles-based Warehouse Exchange has struck a deal with a group of logistics companies to extend its “airbnb”-like warehouse rental platform nationally and internationally.

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Short Seller Bets Against OSI Systems

Hawthorne-based OSI Systems Inc. saw its shares tumble more than 30 percent on Wednesday following a short seller’s declaration that the company was “rotten to the core.”

Short Seller’s Bet Against OSI Systems Sent Stock Price Tumbling

Hawthorne-based OSI Systems Inc. saw its shares tumble more than 30 percent on Wednesday following a short seller’s declaration that the company was “rotten to the core.”

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CMA CGM Completes Port of L.A. Terminal Sale for $875 Million

French shipping line CMA CGM has completed the sale of Global Gateway South, the third largest terminal at the Port of Los Angeles for $875 million.

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Crime Suspect Identification Firm Announces Partnership with Rite Aid

Valencia-based Captis Intelligence, a company that claims its software helps identify crime suspects, announced a national partnership with Rite Aid Corp. today. The one-year deal covers all Rite Aid’s 4,621 stores across the country, Dario Brebic, president of Captis told the Business Journal.

Toyota to Build Renewable Energy Plant at Port of Long Beach

Toyota Motor North America Inc. announced Thursday that it will build its first large-scale natural gas-powered plant to help support its operations at the Port of Long Beach.

Boardriders Offers to Buy Billabong

Boardriders Inc., whose largest shareholder is downtown-based Oaktree Capital, has put in a takeover offer for rival Billabong International Ltd., valuing the latter at $150 million.

SBA Update: Loans Down, Dollar Volume Steady

L.A. District of federal agency remains busiest in nation with $1.8B

SBA lending about flat.

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All Charged Up

200 now on job at 113,000-square-foot facility for EV battery packs in Vernon

Electric vehicle battery pack maker Romeo Power is charging up production at its newer 113,000-square-foot assembly facility in Vernon.

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Bamko Acquires Chicago-based Competitor for $7.2 Million

Sawtelle-based Bamko, a sourcing agency that provides promotional and branded merchandise, has acquired a Chicago competitor for $7.2 million, the company announced Thursday.

Fisker Turns Design Focus to Solid-State Batteries

Henrik Fisker is known for creating luxury cars like the BMW Z8, Aston Martin V8 Vantage and Aston Martin DB9, as well as electric vehicles.

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Downtown Denim Factory to Shut Doors

South Los Angeles-based United Denim Inc. will shut its doors in December and lay off more than 160 employees, according to an Aug. 29 filing with the state’s Employment Development Department.

Denim USA Inc. to Shutter Operations

South L.A.-based United Denim Inc. will shut its doors in December and lay off more than 160 employees, according to an Aug. 29 filing with the state’s Employment Development Department.

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Select Hits, Big Misses for Apparel

MANUFACTURING: BKs, bright spots in mix of largest

Struggles, pleasant surprises among biggest labels here.

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Airbnb Approach on Warehouse Space

Warehouse space, Airbnb style.

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Ports to Set Cargo Records in 2017

The ports of Los Angeles and Long Beach are on track to mint a record-breaking year in cargo movement.

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Hasbro Said to Make Overture to Acquire Mattel

El Segundo-based Mattel Inc. has reportedly received an acquisition offer from rival Hasbro Inc.

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Permits Now Required for Drone Operations at Long Beach Port

The Port of Long Beach now requires drone operators to obtain a permit before taking off or landing in the Harbor District.

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Chanje Order Signals New Direction for Trucks

Playa Vista-based brand delivers 125 to vehicle rental outfit

Electric-vehicle maker Chanje recently announced the delivery of its first order to Ryder System Inc., one of the largest medium-duty truck fleet management companies in the country.

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Chicago Buyer for Local Pork Rinds

Private equity firm in Chicago has appetite for pork rinds.

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Digital Hot, Ice Cream Cool

Halo Top ranks No. 1 on annual list; entries combine for $3.5B in sales.

Overview of our annual list of the 100 fastest-growing private companies.

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Mattel Struggles To Stay in Play

MANUFACTURING: Will toymaker’s sales rebound?

Mattel Inc. and its digitally savvy chief executive are facing an uncertain future as retail partners disappear, flagship brands lose their appeal and revenues lag.

Ports Approve Strict Emission-Reduction Plan

The Boards of Harbor Commissioners for both the Port of Los Angeles and the Port of Long Beach unanimously approved an update to their joint environmental initiative, the Clean Air Action Plan.

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Mattel Stock Surges Amid Sale Speculation

Shares of Mattel Inc rose 11.3 percent Monday after an analyst speculated that the company could be a potential takeover target.

Ports Emissions Plan Up for Vote

Shippers, truckers worried about costs, implementation of stricter pollution rules

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Reliance Steel & Aluminum Continues to Roll Up Metal Firms

Reliance Steel & Aluminum Co. has been on an acquisition spree that has vaulted it to the top ranks of domestic metals distributors

Skechers Gets Traction, Racks Up Record Sales

Shoe maker attributes growth to international market, new collection

Skechers USA Inc. reported record sales in the third quarter thanks to the international market, spurring a two-year peak in its stock price.

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L.A. Banks Boost Assets as Economy Booms

BANKING: Largest local institutions grew 3 percent to cumulative $224 billion

The largest banks headquartered in L.A. County saw modest growth through mid-2017, which analysts said signaled a healthy banking climate.

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Mattel, Jakks Pacific See Slump in Q3 Earnings

El Segundo-based toy manufacturer Mattel Inc., reported dismal third quarter results on Thursday. Jakks Pacific wasn’t too far behind, reporting a Q3 drop in income.

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Tetra Tech Gets Slice of $950M Environmental Contract

Pasadena-based Tetra Tech Inc. announced Wednesday that it was part of a group awarded a $950 million contract by the U.S. Army Corp of Engineers.

Skechers Stock Jumps 41 Percent on Record Sales Numbers

Athletic and casual footwear brand Skechers U.S.A Inc.’s stock has skyrocketed following the company’s announcement last week that it reached record net sales in the third quarter and a jump in earnings.

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Keeping Housing Covered

Prefab buildings maker specializes in backyard additions

Gardena-based Cover Technologies Inc. stands to benefit from a recently passed state law.

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Apparel Manufacturer Topson Signs $30M Warehouse Lease

Apparel manufacturer Topson Downs of California Inc. has leased a newly constructed 442,920-square-foot warehouse facility in Chino from Watson Land Co.

Barrack’s Colony Capital in Talks to Buy Weinstein Co.

Cash infusion precedes possible equity deal for beleaguered firm

The Weinstein Co. is in talks to sell part or all of its assets to Colony Capital and said Colony had agreed to make an immediate cash infusion in the production company.

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Ireland Seeks Green With L.A. Showcase

New prime minister’s initiative aims to boost trade, draw investment

The inaugural IrelandWeek is set to kick off this week in Los Angeles as part of the island nation’s new prime minister’s Creative Ireland Programme, a five-year plan that began this year to bolster trade efforts.

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Sharp Split at Ports Amid Consolidation

A wave of consolidation washes over the top shipping lines at the ports of Los Angeles, Long Beach.

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No Local Pullback on Trade

ECONOMY: Foreign offices often guide investment here

A look at what foreign countries’ trade promotions organizations do in L.A.

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Container Volumes Rise at Ports of Long Beach, Los Angeles

The Port of Long Beach recorded its best September yet in cargo container movement, while the neighboring Port of Los Angeles saw a slight uptick last month, officials announced this week. Part of the reason for Long Beach’s 28.3 percent rise in container volume year-to-year was its recovery from South Korea-based Hanjin Shipping Co.’s bankruptcy filing in August 2016, said port spokesman Lee Peterson.

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IN BRIEF | October 9, 2017

Pharmaceutical firm raises cash for drug trials; business accelerator gets federal contract; Cherin Group gambles on sports companies.

Cal Cartage Carried Away

Longtime local drayage firm California Cartage has been sold, ending its 73-year presence at the L.A. and Long Beach ports.

L.A.-Made Gets Moment in Sun

Pop-up shop, logo aim to give marketing lift to local brands, merchandise

The city’s new efforts to market local products include the LA Original pop-up shop and a new logo.

Opportunity Funds Expands Lending Program Statewide

Opportunity Fund, a nonprofit lender for small businesses, has expanded its pilot Community Partner Program from the Los Angeles region to include San Diego, the Central Valley and Northern California.

Larta Lands Energy Department Contract to Aid Small Businesses

Larta Institute, an accelerator for small businesses in the health care, agriculture and energy sectors, announced this week that its Larta Inc. subsidiary had been granted an exclusive Department of Energy contract to aid small businesses across the country.

California Cartage Co. Acquired by NFI Industries

California Cartage Co., the largest drayage firm at the ports of Los Angeles and Long Beach, has been acquired by NFI Industries Inc., the companies announced this week.

Port of Los Angeles Terminal Re-Opens After Picketing

The International Longshore and Warehouse Union, Local 63, ended a two-day job action at the APL Terminal at the Port of Los Angeles on Saturday.

Toymaker Suits UP with ‘Incredibles’

Toymaker grabs Disney deal.

Mattress Company Firm in Online Tax Dispute

MANUFACTURING: Ortho sues California, out-of-state competitor over levy.

Ortho Mattress sues a California agency and an out-of-state rival over online sales taxes.

Manufacturers Put Together Day of Promotion

Local firms will host facility tours while educators, L.A. Mayor’s Office hold events.

Los Angeles plans to do its part in marking National Manufacturing Day on Friday – and what else to expect from the largest center of manufacturing in the country.