DROP OUT: Austin Beutner, the businessman-turned-jobs czar, has bowed out of the race to become mayor of Los Angeles. In a letter to supporters on his website, Beutner – who gave up a career in private equity to serve in the administration of L.A. Mayor Antonio Villaraigosa – said he eventually decided that the rigors of a campaign would take too much time away from his family. Still in the race are City Council members Eric Garcetti and Jan Perry, City Controller Wendy Greuel and radio talk-show host Kevin James. Shopping mall developer Rick Caruso and Los Angeles County Supervisor Zev Yaroslavsky are also considered possible candidates, though neither has declared their intention to run.
JOBS FORECAST: Job growth in Los Angeles County and the region should pick up this year and accelerate next year, according to a forecast by economists at Cal State Long Beach. The county should add about 60,000 jobs this year for a growth rate of 1.6 percent, well above the 0.6 percent pace of last year. Next year should be even better, with 80,000 jobs added for a growth rate of about 2.1 percent. Last week’s report noted that job growth is led by cyclical sectors, such as retail, professional and business services, and leisure/hospitality. Even construction, hit by the real estate bust, is adding jobs for the first time in five years.
ELECTRIC VEHICLES: A Colorado startup plans to manufacture electric delivery vans in Los Angeles, joining several other electric-vehicle makers in the city. Boulder Electric Vehicle, based in Lafayette, has leased a 27,714-square-foot industrial building on Irondale Avenue in Chatsworth. Boulder plans to assemble vehicles here for sale in California and for export to Asia.
LIVING WAGE: Backers of a proposal for a “living wage” for major hotels in Long Beach have filed more than 31,000 signatures to qualify their measure for the November ballot. Unite Here Local 11, the union-allied Los Angeles Alliance for a New Economy and supporters need 22,000 valid signatures to qualify. The proposal requires the 16 hotels in Long Beach with more than 100 rooms – including the Long Beach Hyatt Regency and the Long Beach Hilton Hotel – to pay workers $13 an hour.
STRATEGIC BUY: Ixia said that it will buy Anue Systems Inc. for $145 million in cash. The Calabasas maker of network testing products for telecom service providers and other large companies said that privately held Anue makes similar products. The combination will make Ixia a bigger player in its market. Anue reported revenue of $47.6 million for the 12 months ended March 3. The acquisition is expected to add to adjusted profit in the third quarter.
ARIZONA CONTRACT: The Gila River Indian Community has selected Perini Building Co. Inc. to develop and construct a $135 million casino and resort hotel at the tribe’s Vee Quiva Casino near Phoenix. The subsidiary of Sylmar’s Tutor Perini Corp. said it will build a 90-room hotel and casino at the 70-acre site in Laveen, which is home to an older casino. The project is scheduled to open next year.
RETIRING: CBRE Group Inc. has announced that Chief Executive Brett White will retire from the Los Angeles real estate services giant at the end of the year. He will be succeeded by the company’s president, Robert Sulentic. Sulentic joined the company in 2006 with the acquisition of Trammell Crow Co., where he was chief executive. He has been CBRE’s president since 2009. White, 52, has been with CBRE, the world’s largest commercial real estate services company, for nearly 30 years and became chief executive in 2005.
CEO SELECTED: Qualstar Corp.’s board has named Lawrence D. Firestone chief executive and president. He will succeed company co-founder William J. Gervais, who is retiring next month. Qualstar, in Simi Valley, is a technology company specializing in tape storage and power supplies. Firestone, 54, joined Qualstar’s board last May.
NEW COO: Military drone maker AeroVironment Inc. said it has established the position of chief operating officer and promoted Tom Herring to fill it. Herring had been senior vice president and general manager of the Monrovia company’s unmanned aircraft unit. In his new role, Herring will focus on the planning and execution of the company’s annual operating plan and on operational excellence.
EARNINGS: Walt Disney Co. reported fiscal second quarter net income of $1.14 billion, 21 percent higher than in the same period a year earlier. Revenue rose 6 percent to $9.63 billion. … DirecTV Inc. reported first quarter net income of $731 million, 8.5 percent higher than in the same period a year earlier. Revenue rose 12 percent to $7.05 billion. … Health Net Inc. reported a first quarter net loss of $26.6 million, 75 percent smaller than in the same period a year earlier. Revenue fell 16 percent to $2.83 billion. … Activision Blizzard Inc. reported first quarter net income of $384 million, 23 percent lower than in the same period a year earlier. Revenue fell 19 percent to $1.17 billion. … Tutor Perini Corp. reported a first quarter net loss of $1.2 million, compared with $6.9 million of net income in the same period a year earlier. Revenue rose 48 percent to $912 million. … Physicians Formula Holdings Inc. reported first quarter net income of $2.4 million, 432 percent higher than in the same period a year ago. Revenue rose 24 percent to $26.2 million. … Wesco Aircraft Holdings Inc. reported net income of $19.7 million, 10 percent lower than in the same period a year earlier. Revenue rose 3.5 percent to $182 million.
