Resort Management: Colorado-based Destination Hotels & Resorts was selected to manage the 102-acre Terranea Resort to be completed in 2009 by Lowe Enterprises. The $450 million property will include 582 Mediterranean-style rooms, three pools, dining options and a 25,000-square-foot spa and fitness center. Destination Hotels & Resorts, a Lowe Enterprises affiliate company, manages more than 30 independent hotels, resorts, and golf clubs in the U.S.
Art Partnership: Laemmle's is teaming up with the Claremont Museum of Art for the opening of the Claremont 5 Cinema. In a pre-opening benefit, director Laurent Tirard's "Moliere" was scheduled to be shown at the price of $75 a ticket including wine and hors d'oeuvres. All proceeds will benefit the Claremont Museum. The Claremont 5 Cinema will be the city's only movie house. The Village Theater, on the corner of Bonita and Harvard avenues, was converted into a mixed-use complex several years ago.
City of Industry
Skate Park Expanding: City of Industry-based Spohn Ranch Inc., a skate park company, recently acquired Duluth, Minn.-based TrueRide, a manufacturer of wood and composite skate park ramp systems. For the time being, Spohn Ranch intents to continue to market the new product lines under the TrueRide name.
Ethnic Communication: Beverly Hills-based Platinum Equity LLC purchased Rockville, Md.-based Startec Global Communications, a portfolio company of Allied Capital Corp. Startec is a provider of long distance communications services to targeted ethnic communities throughout the U.S. and Canada. Products include direct-dial and dial-around long distance voice services. The company serves about 400,000 customers. Platinum Equity is a private equity firm specializing in acquisitions, public-to-private transactions, and corporate divestitures.
Brain Waves: Dr. Orli Peter, founder and director of the Center for Accelerated Psychology in Beverly Hills, has affiliated with the Brain Music Therapy Center in New York City. Brain Music Therapy, originally intended to treat insomnia, is now used on patients with sleep disorders, anxiety, depression, stress, headaches, and improved productivity and concentration. Peter's office will be the only one in Southern California to use the technology, which records an individual's brain waves using an EEG and converts them into customized musical sounds for each individual. There are now 14 providers of such services around the U.S.
Name Change: The West Hollywood Convention & Visitors Bureau has changed its name to the West Hollywood Marketing & Visitors Bureau, to better reflect the organization's activities and to improve its capacity to conduct business in the entertainment industry. There is no convention center in West Hollywood and the bureau doesn't pursue large convention business. The bureau also changed its logo.
Vinegar Sale: Cerritos-based Fleischmann's Vinegar Co. Inc. has been purchased by American Capital Strategies from previous owner, Swander Pace Capital LLC. Fleischmann's is the leading supplier of vinegar to food processors in North America, serving companies including Kraft, Heinz, and Reckitt Benckiser. Swander Pace Capital purchased the company in 2002 from Burns Philip & Company Ltd.
Labor Dispute: Protests in front of the Wilshire Plaza Hotel at 3515 Wilshire Blvd. began after the general counsel of the National Labor Relations Board issued a complaint against the Wilshire Plaza hotel alleging 45 unfair business practices. The complaint was originally issued after the Unite Here Local 11 union filed charges. One of the allegations includes a failure to make payments to the health and welfare funds resulting in the loss of healthcare coverage for some of their employees.
District Approved: The Downtown Center Business Improvement District, a coalition of property owners committed to improvement of downtown Los Angeles, was approved by more than 97.5 percent by area property owners for a third five-year term. The vote is the group's highest affirmative total so far, more than the 83 percent in 2002 and the 65 percent in 1997. Almost 480 property owners provide funds to the DCBID through a voluntary tax assessment. The money goes toward safety and maintenance services, business recruitment and retention, and marketing.
Public Bidding: The Valley Economic Development Center and the Los Angeles Community College District are teaming up to educate small and emerging businesses in Los Angeles County about how to bid on work associated with the district's $2.2 billion construction campaign. The project is funded under the Proposition A/AA Bond Program approved by L.A. voters in 2001 and 2003. To date, the LACCD has contracted more than 86 percent of the work to local, small or disabled-veteran businesses, approving contracts of more than $500 million total to these businesses. Programs for interested business owners last three to four weeks and cover business plans, labor compliance, insurance, bonding, contracting, bidding and statement of qualification. Also covered is business finance, accounting and legal structure, financial statements and loan options.
Jobs Created: Construction company DMJM Management is reaching out to Pasadena residents first with employment opportunities for the $121 million expansion of the city of Pasadena Convention Center. The expansion will almost double the size of the facility and will include interior and exterior renovation. DMJM, which is overseeing the project, will support the requirements of the local workforce utilization plan between the city and Clark Construction. The Pasadena First Source Local Hiring Office is negotiating other such agreements with developers and training institutions.
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