Stories for May 2011
Tuesday, May 31
Lions Gate Reports Mixed Quarter
Lions Gate Entertainment Corp. moved to a better-than-expected profit in its fiscal fourth quarter but the boutique film studio missed Wall Street revenue forecasts.
Jacobs Takes Majority Stake in Indian Engineering Company
Jacobs Engineering Group Inc. late Tuesday said it has acquired majority ownership of Consulting Engineering Services Private Ltd., giving it a major presence in India.
Kennedy Wilson Makes Major Bay Area Apartment Investment
Kennedy Wilson Holdings Inc. has acquired a 1,008-unit apartment complex in the San Francisco Bay Area community of San Pablo for more than $140 million, its largest-ever multifamily deal.
HCP Promotes Timothy Schoen to Chief Financial Officer
HCP Inc. has appointed Timothy Schoen, who currently oversees the real estate investment trust’s life science properties, as chief financial officer, and also announced that its general counsel had resigned.
Former Edison Chairman to be Nominated for Commerce Secretary
President Barack Obama plans to nominate John Bryson, the former chairman of Edison International and a prominent environmental advocate, to be his next commerce secretary.
NewEgg Cancels IPO
After waiting nearly two years for the right market conditions, online electronics retailer NewEgg Inc. has thrown in the towel on an initial public offering.
OpenX Raises $20 Million in Venture Capital
OpenX Technologies Inc., which develops online advertising software and counts Groupon among its clients, has raised $20 million in a Series D funding round.
Monday, May 30
Investors See Dimmer Prospects for 3-D Business
Analysts say issues with projectors are not RealD’s problems.
Some investors see dark days ahead for 3-D equipment maker RealD but analysts like its focus.
Investors Like the Sound Of Song-Producing Tech
Music Mastermind funding round raises $10.8 million.
Music Mastermind’s tune-producing tech has struck a chord with investment firms.
Is Big Downtown Property Player on the Way Out?
Richard Meruelo loses bid to hold on to bankrupt company.
A bankruptcy judge favors a plan to strip company control from downtown power player Richard Meruelo.
No Lawyers, No Cry
PAGE 3
Twenty years after reggae singer Bob Marley’s death (the anniversary was earlier this month), two L.A. lawyers find themselves fighting a legal battle over the use of his likeness.
Movie Fest Tunes Up
Outdoor event to put more focus on bands in second go-around.
The organizers of an outdoor movie fest are hoping live bands will drum up business.
A Big Star For Those Behind Bars
Bail bond expert built her career on working with celeb clientele.
Chickie Leventhal’s bail bond business has locked up some pretty big names
A Business Model to Dye For
ESalon’s website lets customers customize hair color packages.
ESalon hopes to get ahead in the hair dye business with its custom-ordered packages.
FDA Gives Approval and a Leg Up to Device Maker
HEALTH CARE & BIOTECH: Alfred Mann-owned Bioness to step up efforts on mobility stimulator.
As Alfred Mann struggles to get the first product from his public drug developer MannKind Inc. approved, one of his smaller companies has received the Food and Drug Administration’s blessing this month to market its third medical device.
Bra Company Finds Overseas Markets Uplifting
Founder turned to international markets to offset suddenly flat sales.
Bra maker Pure Style Girlfriends turned to overseas sales for extra support in the recession.
Ludo Lefebvre: In and Out
The popularity of his temporary-restaurant concept has earned chef his own reality show, where the chef hopes to keep the focus on cooking and not his spicy-hot personality.
French chef Ludo Lefebvre has a full plate with his temporary restaurants and a new reality show.
Joining the Club
L.A. is turning into a hub for retail sites offering a pick-of-the-month in shoes, jewelry or apparel. Why? Think celebrities.
L.A. has gotten several members-only retail sites that want customers to pay their dues.
Texas Eyes L.A. For Capital Gains
Austin chamber ups effort to poach businesses.
Texas has stepped up its drive to lasso L.A. businesses with a new campaign by the Austin chamber.
Fuel Firm Hunts For Seed Money
Ceres hopes to turn sweet sorghum into tasty IPO.
The maker of advanced plants for ethanol fuel hopes investors take a rooting interest in its IPO.
Aerospace Not Completely Grounded in County
SIDEBAR: Space Case
Projects such as the F-35 jet still provide a lift to a shrinking sector in Los Angeles County.
Space Case
Defense exodus swells South Bay vacancies
Departing and contracting aerospace companies in the South Bay have left sky-high vacancies in their wake.
Regional Reports
Regional Report
Hilton Will Check New Brand Into Hollywood
REAL ESTATE: Garden Inn will take place of RLJ’s Hollywood Heights Hotel.
The Hollywood Heights Hotel is being converted into the tourist area’s first Hilton Garden Inn, a Hilton Hotels Corp. brand known for its open courtyards and boutique feel.
Calendar & Events
Calendar
News of the Week
News of the Week
Small-Business Loans Make a Big Comeback in L.A.
BANKING & FINANCE: Wilshire and Center Financial are among top SBA lenders in U.S.
Several local banks are taking advantage of a rising demand for small-business loans to increase their national profiles.
Automated Camera Angles Give 3-D Company an Edge
Two 3ality software programs aim to save time, cut costs.
New software from 3ality could boost 3-D film and TV production by cutting time and costs.
Sandwich Chain Likes to Get Things Cooking in L.A.
Subway looks to region to test items such as its breakfast menu.
Subway sandwich chain looks to L.A. as a lab to launch menu items.
L.A.’s Current Trash System Is a Big Heap
OP-ED
The city’s waste-hauling system for small businesses and apartments could stand to be recycled, writes Greg Good.
Getting LAX Off the Ground
OP-ED: Much needed renovations to the airport could provide a lift to L.A.’s tourism and trade industries.
A plane-Jane LAX is grounding L.A.’s efforts to become a world-class city, according to Russell Goldsmith.
High Price of Mass Appeal
COMMENT
Charles Crumpley wonders if Kitson’s growth plan will shortchange the chain’s biggest asset – exclusivity.
Friday, May 27
First Private Bank & Trust Changes Name
First Private Bank & Trust said that it will now be known as Boston Private Bank & Trust following the merger of its bank charter with its parent company.
The Week’s Big Movers
The Business Journal’s index of largest local public companies rose slightly for the week as investors reacted to an unexpected jump in consumer confidence.
Thursday, May 26
Online Advertising Company WebVisible Moves to Los Angeles
WebVisible Inc., which sells subscription-based software that helps small- and medium-sized businesses place online advertising, has completed the relocation of its headquarters from Irvine to the Electronics Arts Campus in Playa Vista.
Avocado Marketer Calavo Acquires Processing Business
Calavo Growers Inc. has signed an agreement to acquire Renaissance Food Group LLC, which operates six fresh food processing facilities across the country, for an undisclosed amount.
News Corp. Subsidiary Takes Stake in GameFly
GameFly Inc. has acquired Direct2Drive.com, a videogame distribution and download service owned by News Corp.’s IGN Entertainment, in a deal that includes IGN taking a minority stake in GameFly.
Wednesday, May 25
Guess Stock Jumps on Better-Than-Expected Quarter
Shares of Guess Inc. jumped more than 11 percent on Thursday, a day after the trendy apparel company reported higher sales, boosted by its overseas operations. The results beat Wall Street expectations.
Quarterly Profit Rises at 99 Cents Only Stores
99 Cents Only Stores reported higher fiscal fourth quarter revenue and profit as a special board committee continues to evaluate a private equity-backed $1.34 billion management buyout of the discount retailer.
K-Swiss Signs Partnership Deal with Midwest Fitness Chain
Fitness shoe company K-Swiss Inc. announced a multi-year agreement to serve as the exclusive footwear and apparel provider for Life Time Fitness Inc.’s running programs and endurance events.
County To Require Union Labor for MLK Hospital Facility
Despite objections from non-union contractors, the Los Angeles County supervisors approved a union-backed project labor agreement for construction of a $95 million ambulatory care center on the Martin Luther King Jr. Hospital campus in Wilmington.
Private Equity Firm to Acquire California Pizza Kitchen
After more than a year of searching for a suitor, California Pizza Kitchen Inc. on Wednesday said it had reached a definitive agreement with an affiliate of Golden Gate Capital to be acquired for about $470 million.
Tuesday, May 24
Google, Citi Invest $110 Million in Wind Farm Serving SoCal Edison
Google Inc. and Citibank on Tuesday announced that they will invest $55 million each in a Mohave wind project supplying power to Southern California Edison.
Entertainment Tech Company Music Mastermind Raises $10.8 Million
Music Mastermind has closed a $10.8 million Series B funding round that it said will help it launch its create-and-share music software sometime this year.
Monday, May 23
Software Developer AWR Corp. to Be Acquired
National Instruments Corp. has signed an agreement to acquire AWR Corp, an El Segundo developer of design software for radio and microwave equipment, in a deal valued at $58 million.
Disney Ramps Up Plans for ‘Interactive’ Retail Stores
Walt Disney Co. intends to triple the number of "interactive concept" Disney Store locations by opening 40 more stores this year around the world.
Ceres Files for Initial Public Offering
Ceres Inc., which is developing seeds to provide special crops for the biofuels industry, has filed for an initial public offering to raise up to $100 million.
Real Estate Brokerage Doubles Up in South Bay
REAL ESTATE: CB Richard Ellis to combine two offices into new El Segundo space.
CB Richard Ellis Group Inc. is consolidating its two South Bay offices into one location in El Segundo as the brokerage streamlines regional operations.
From Big Screen to Soul Dogs
PAGE 3
When Don Scott moved to Los Angeles 17 years ago, he dreamed of making it big in both the entertainment and business worlds.
High-Class Education
Mercedes-Benz signals a new turn with its plan for a driving school.
Marketing may be steering Mercedes’ new driver’s ed classes in West Hollywood.
Plugging Away With Frequency
Radio talk show host’s youth focus helps score syndication deal.
Talk show host Tim Mihalsky, 24, has put his money where his mouth is with a new syndication deal.
Spotlighting Vintage Appeal
Owner looks to photo, TV shoots to help sell estate and winery.
Owner of a Malibu estate and winery looks to spotlight his for-sale property with film and photo shoots.
Calendar & Events
Calendar
New Corporate Credit Union Prepares to Check In
BANKING & FINANCE: Area institutions are wary of recapitalizing replacement for WesCorp.
Local financial leaders are set to launch a replacement for WesCorp, the San Dimas corporate credit union that was seized by regulators in 2009.
Firm’s Licorice Campaign Yields a Sweet Payoff
ADVERTISING & PR: People turn Dentsu’s Red Vines site into a support-the-troops page.
Dentsu America Los Angeles has concluded a social media experiment for client Red Vines that turned into a support-our-troops effort.
Publisher Looks To Add Spark to Electronic Editions
Source Interlink picks up agency to improve interactivity of advertising.
Magazine publisher adds ad agency to beef up interactivity of e-editions.
Regional Reports
Regional Report
A Vote of No-Confidence in Vernon’s ‘Elected Officials’
OP-ED
Ron Shinkman votes no on the L.A. Area Chamber of Commerce’s support of Vernon.
News of the Week
News of the Week
Paycheck Bump Comes at a Price
OP-ED: Efforts to raise the minimum wage harm small business owners and entry-level employees.
Efforts to raise minimum wages only hold down entry-level workers, according to David M. Smith.
Amgen May Cause Drowsiness
COMMENT
Somebody needs to wake sleeping biotech giant Amgen, writes Charles Crumpley.
Ashok Amritraj: Net Gain
Former pro left tennis to make his points in Hollywood as a film producer.
Former pro tennis player Ashok Amritraj found a better match as a Hollywood film producer.
L.A. Hotels Add Luxury Moniker
Cipriani debuts on Westside, but on Pico.
A new inn called Mr. C is checking into the ranks of L.A.’s luxury hotels.
Shortage of Tape Sticks L.A. Firms With Big Bills
Loss of Japanese plant sends prices soaring for video format.
Loss of a plant in Japan has left production firms paying collectors’ prices for high-end videotape.
Refashioning
New execs plan 200 Kitson stores worldwide
Kitson founder Fraser Ross has outfitted the high-end clothing chain with new execs to drive company growth.
In the Raw
Santa Fe Springs’ Fuji Food adds sales outlets to its plate by scooping up sushi rival Okami.
Santa Fe Springs’ Fuji Food likes its deal for sushi-making rival Okami.
Los Angeles Drug Company Sharpening Its Focus
CytRx sells off half of pipeline to focus on its cancer products.
CytRx sold off half the drugs in its pipeline for a reason: It will focus on developing cancer drugs.
Local-Levy Plan an ‘Accounting Nightmare’
Businesses fear new bills from counties, school districts.
Businesses fear a state proposal to allow counties and school districts to enact levies will cost them dearly.
Spotlight Shifts to Bankruptcies in Namvar Case
Jury convicts Persian financier of wire fraud; sentencing set for Aug. 22.
Now convicted, Ezri Namvar will continue his legal saga as his bankruptcy cases head to court.
City of L.A. May Lighten Levies on Mutual Funds
Council looks at scrapping the tax on gross receipts.
Mutual fund company’s interest in opposing city of L.A. taxes may yield a positive return.
Software Maker Hits Rough Spot After Hot IPO
Cornerstone share value takes tumble despite revenue growth.
Cornerstone hopes to build more support for its stock and human resources software.
Friday, May 20
The Week’s Big Movers
The Business Journal’s index of largest local public companies rose for the week as investors reacted to concerns that U.S. consumer demand may be weakening.
Caruso Ditches Plan for Race Track Mall at Santa Anita
Mall kingpin says the long fight over his Santa Anita project has caused him to throw in the towel.
Rick Caruso, the real estate developer and possible L.A. mayoral candidate, is abandoning what would have been the largest project of his career: a 51-acre outdoor shopping center next to the Santa Anita Park race track.
L.A.’s Unemployment Rate Improves a Bit
L.A. County’s unemployment rate fell to 12.1 percent in April – the lowest since December 2009 – as more residents reported finding work.
Nara and Center Announce Branch Consolidations
Nara Bancorp Inc. and Center Financial Corp. announced four branches they plan to close after their merger is completed later this year
Thursday, May 19
Beverly Hills Chamber Names Executive Director
The Beverly Hills Chamber of Commerce has named local business improvement district executive Alex Stettinski as its new president and chief executive.
Ezri Namvar and Business Partner Convicted of Wire Fraud
Ezri Namvar, the bankrupt Westside businessman whose $2.5 billion real estate portfolio collapsed in 2008 amidst allegations of a Ponzi scheme, on Thursday was found guilty by a jury of four counts of wire fraud.
Fleetwood-Fibre Makes Acquisition
Fleetwood-Fibre Packaging & Graphics has entered into an agreement to acquire all assets of Impact Manufacturing in Corona for an undisclosed amount.
Hollywood Reporter Hires Web Site Editor
Joseph Kapsch, who has been editorial director at entertainment news site Zap2it, has been hired by the rival Hollywood Reporter as editor of its THR.com site.
Florida Investigating Green Dot, Other Prepaid Debit Companies
The Florida Attorney General’s office announced an investigation of Green Dot Corp. and four other prepaid debit card providers for possible deceptive and unfair practices.
Cereplast Raises Capital with $12.5 Million Private Placement
Cereplast Inc. said that a group of institutional investors had agreed to buy $12.5 million worth of 7-percent senior subordinated convertible notes
Wednesday, May 18
Hot Topic’s Quarter Slightly Better than Expected
Hot Topic Inc. reported adjusted first-quarter net income that was slightly better than analysts expected.
Report: Oaktree Moving Closer to NYSE Listing
Oaktree Capital Management is planning to list its shares on the New York Stock Exchange in a deal that would value the downtown Los Angeles asset manager between $8 billion and $9 billion, according to a media report that cites people familiar with the plans.
Source Interlink Media Acquires Mind Over Eye
Source Interlink Media has acquired Mind Over Eye, a digital marketing and visual effects studio based in Santa Monica, for an undisclosed amount.
Boingo to Provide Wi-Fi to Caruso Malls
Shares of Boingo Wireless Inc. jumped Wednesday after the Wi-Fi hotspot provider announced that it signed an agreement to deploy Wi-Fi services at Caruso Affiliated’s The Grove in Los Angeles and The Americana at Brand in Glendale.
Tuesday, May 17
Health Care Finance Firm Key Health Medical Solutions Is Acquired
A Michigan private equity firm has acquired Westlake Village healthcare finance company Key Health Medical Solutions Inc.
DirecTV To Buy Back Nearly $660 Million in Notes
DirecTV Holdings LLC said that it will redeem for cash a large group of senior notes that would have been due 2015.
Rentech Acquires Majority of ClearFuels Technology
Rentech Inc. has acquired a majority of the equity of fellow biofuels developer ClearFuels Technology Inc., with existing ClearFuels investors retaining a minority interest.
CytRx Sells Non-Core Assets
Cancer drug developer CytRx Corp. has sold three drug candidates that have the potential for treating genetic diseases as part of an initiative to monetize non-core assets.
Monday, May 16
Radio Station KFI-AM Moves Up Ratings Ladder
Talk station KFI-AM climbed to second place in L.A. radio ratings during the month of April, according to the latest Arbitron ratings. Top 40 station KIIS-FM continues to dominate by remaining in first place.
DTS Plans Stock Buy-Back of 1 Million Shares
DTS Inc. said that its board approved a plan to repurchase up to 1 million shares of the company's common stock in the open market or in privately negotiated transactions.
Miramax Signs Streaming Movie Deal with Netflix
Miramax Films has signed a deal with Netflix Inc. that will give the movie rental service’s customers streaming access to several movies in its library, including “The English Patient,” “Good Will Hunting” and “Pulp Fiction.”
Kardashian Start-Up ShoeDazzle.com Raises $40 Million
ShoeDazzle.com, the online shoe buying club co-founded by celebrity Kim Kardashian, said over the weekend that it raised $40 million in a new funding round.
Investors Are Sold on Clothing Chain’s Business Plan
RETAIL & APPAREL: Hot Topic stock is up more than 50 percent since March.
Hot Topic Inc. is showing signs of new life.
Calendar & Events
Calendar
Is Health Inspection Fee Hike Ill-Timed?
County plan turns business owners green.
L.A. County’s plan to raise health inspection fees has left local businesses feeling queasy.
Disclosures Rock Wilshire Bancorp
Koreatown titan’s stature and stock price take a dive.
Problems with Wilshire Bancorp’s loan underwriting has further undermined the once admired institution.
New Westwood BID Greeted With Grief
The first order of business for Westwood’s new Business Improvement District may be settling lawsuits over assessments.
Hotel Looks To Raise The Roof
Beverly Wilshire has bar on top on tap to compete with rivals.
Beverly Wilshire Hotel looks to raise spirits with a new rooftop bar.
Good Taste On Display
High schooler’s sweet rice-paper idea wins business competition.
High schooler Hayley Hoverter’s rice-paper sugar packets scored her a sweet win in a business competition.
Television Man Catches Up on Viewing
PAGE 3
Nigel Lythgoe left as producer of Fox’s “American Idol” two seasons ago so he could focus on producing and being a judge on Fox’s “So You Think You Can Dance.”
Regional Reports
Regional Report
Station to Station
TV personalities such as Carson Daly still want their voices heard on L.A. radio.
Some local personalities still work at radio even though they’ve made it in TV.
Economic Consultant to Take Reins of Montebello
Council of troubled city votes to bring in Larry Kosmont.
Larry Kosmont has been hired as interm city manager of Montebello.
Merger of Car Parts Makers Drives Investor Interest
Motorcar shares up after it unveils bid for Toronto’s Fenco.
Investors have greeted Motorcar Parts of America’s pickup of car parts maker Fenco as a wheel deal.
Hollywood Firm Jumps Into YouTube Video Stream
Clevver generates revenue with ad-friendly original content.
Hollywood’s Clevver is reframing the rates debate with ads attached to its YouTube content.
More Bad News to Report At Struggling Local Paper
Long Beach Press-Telegram cuts staff as readership, ad sales fall.
Staff and cost cuts have become familiar stories in the Long Beach Press-Telegram’s news room.
Business Battles Test the Mettle of War Veterans
Making contacts cited as a key to building companies.
Iraq War veteran Bill Vaughn battled the recession and his disabilities to build his Northridge business.
It’s a Case of Click and Miss for Online Video Games
TECHNOLOGY: Activision sees digital content sales rise, but THQ revenue dips.
Video game retail sales are continuing to languish, so game publishers have been looking for new ways to sell online.
News of the Week
News of the Week
Santa Monica Gets More Creative With Ad Firm
REAL ESTATE: Crispin Porter expands space to increase presence in L.A. market.
Chalk another one up to Santa Monica’s appeal to creative companies.
Keep It in The Family?
Special Report: Wealthiest Angelenos | Ultrawealthy parents face tough decisions about whether to give their children the keys to the family business.
Wealthy parents often struggle with striking a balance between coddling and inspiring their children
Waiting For an Inheritance? It May Be a Long Time Coming
Special Report: Wealthiest Angelenos
Children of the ultrawealthy might want to start saving up their allowances.
Investment Adviser Handles Inheritances With Kid Gloves
Special Report: Wealthiest Angelenos
Wealth adviser helps clients cultivate family and money trees.
Wealthiest Angelenos: Sumner Redstone - #6
Special Report: Wealthiest Angelenos 2011
Buoyant advertising markets for broadcast and cable TV pushed up media mogul’s net worth by more than $1 billion as Viacom and CBS stocks rose sharply.
Wealthiest Angelenos: David Geffen - #4
Special Report: Wealthiest Angelenos 2011
Fortune grew thanks to increased value of extensive art collection, and presumed solid returns from capital market and real estate investments.
Wealthiest Angelenos: Ron Burkle - #5
Special Report: Wealthiest Angelenos 2011
Self-made mogul continues to augment fortune with diversified L.A. company Yucaipa Cos., which has seen appreciation of some portfolio companies, including Whole Foods Market Inc.
Wealthiest Angelenos: Haim Saban - #7
Special Report: Wealthiest Angelenos 2011
Strong recovery in advertising swelled the value of Univision Communications, which Saban and partners bought in 2007.
Wealthiest Angelenos: David Murdock - #9
Special Report: Wealthiest Angelenos 2011
Major holdings include produce giant Dole Food Co. and privately held Castle & Cooke real estate company.
Wealthiest Angelenos: A. Jerrold Perenchio - #11
Special Report: Wealthiest Angelenos 2011
Former talent agent saw some presumed gains this year through family investment firm, Chartwell Partners, which tends $1.3 billion earned from selling Univision Communications in 2007.
Wealthiest Angelenos: Alan Casden - #12
Special Report: Wealthiest Angelenos 2011
Relatively quiet year for residential developer; made no major acquisitions but plans large projects in West Hollywood and West L.A. Portfolio, including Palazzo in Westwood, said to be nearly fully leased.
Wealthiest Angelenos: Tom Gores - #13
Special Report: Wealthiest Angelenos 2011
Large and increasingly diverse portfolio of investment firm Platinum Equity appreciated in improving economy.
Wealthiest Angelenos: John E. Anderson - #14
Special Report: Wealthiest Angelenos 2011
His diverse family-held Topa Equities Ltd. has low debt-to-equity ratio that stands up well in economic headwinds.
Wealthiest Angelenos: William Barron Hilton - #15
Special Report: Wealthiest Angelenos 2011
Son of legendary hotelier Conrad Hilton publicly declared personal net worth at $2.5 billion.
Wealthiest Angelenos: Jeffrey Skoll - #16
Special Report: Wealthiest Angelenos 2011
First employee of eBay had 83 million shares of online marketplace that was worth $3 billion in 2006.
Wealthiest Angelenos: Do Won ‘Don’ & Jin Sook Chang - #17
Special Report: Wealthiest Angelenos 2011
Fast-fashion powerhouses Do Won Chang and his wife, Jin Sook, saw annual sales at closely held Forever 21 top $2 billion last year.
Wealthiest Angelenos: Steven Udvar-Hazy - #18
Special Report: Wealthiest Angelenos 2011
Godfather of jet leasing launched new company in April. Successful IPO of Air Lease Corp. raised $802 million with Udvar-Hazy’s stake at $128 million.
Wealthiest Angelenos: Edward Roski Jr. - #19
Special Report: Wealthiest Angelenos 2011
Chairman-chief executive of industrial developer Majestic Realty made modest gains on leases with desirable Class A tenants, despite flat year in industrial market.
Wealthiest Angelenos: Tamara Hughes Gustavson - #20
Special Report: Wealthiest Angelenos 2011
Public Storage Co. heir new to list after receiving nearly 12 percent of company stock from father and company founder B. Wayne Hughes.
Wealthiest Angelenos: Rick Caruso - #21
Special Report: Wealthiest Angelenos 2011
Developer of Grove and Americana at Brand saw mild appreciation of Class A retail properties after taking hit during downturn.
Wealthiest Angelenos: Andrew & Peggy Cherng - #22
Special Report: Wealthiest Angelenos 2011
Fast-growing Panda Restaurant Group hit $1.4 billion in sales last year, making it No. 3 quick-service restaurant chain in United States.
Wealthiest Angelenos: Alec Gores - #23
Special Report: Wealthiest Angelenos 2011
Gores Group, his tech-oriented private equity firm, saw healthy returns as it cashed out of some investments, including selling electricity management firm Lineage Power Holdings to GE for $520 million.
Wealthiest Angelenos: Donald Sterling - #24
Special Report: Wealthiest Angelenos 2011
Told Business Journal portfolio of apartment buildings appreciated since last year.
Wealthiest Angelenos: Stewart & Lynda Resnick - #25
Special Report: Wealthiest Angelenos 2011
Power couple’s agricultural and retail empire posted modest growth as consumers returned to spending.
Wealthiest Angelenos: David and George Hearst Jr. - #26 & #27
Special Report: Wealthiest Angelenos 2011
Grandchildren of legendary publishing tycoon William Randolph Hearst have share in family trusts, most notably controlling stake in privately held Hearst Corp. Media conglomerate continues to benefit from post-recession uptick in broadcast and print advertising.
Wealthiest Angelenos: Anthony Pritzker - #28
Special Report: Wealthiest Angelenos 2011
Rebound in travel industry and stock markets increased net worth of local member of wealthy Chicago family.
Wealthiest Angelenos: Gary Michelson - #30
Special Report: Wealthiest Angelenos 2011
Spinal surgeon and inventor spent charitable foundations’ money faster than investments in energy, distressed real estate and large multinationals could replenish it.
Wealthiest Angelenos: Michael Milken - #31
Special Report: Wealthiest Angelenos 2011
Former Wall Street financier went on selling spree and took some profits, shedding $134 million in shares of educational product maker LeapFrog Enterprises, held with brother Lowell.
Wealthiest Angelenos: Thomas Barrack Jr. - #32
Special Report: Wealthiest Angelenos 2011
Investor wasn’t afraid to spend some cash during downturn buying bad loans, real estate and other distressed assets.
Wealthiest Angelenos: George Joseph - #33
Special Report: Wealthiest Angelenos 2011
Founder of property and casualty insurer Mercury General took hit as stock fell 10 percent from last year.
Wealthiest Angelenos: Bruce Karsh - #34
Special Report: Wealthiest Angelenos 2011
Oaktree Capital Management president benefited from strong returns in investment firm’s portfolio, including high-yield bonds and other asset classes.
Wealthiest Angelenos: Howard Marks - #35
Special Report: Wealthiest Angelenos 2011
Aftermath of financial crisis proved lucrative for renowned distress investor and his Oaktree Capital Management.
Wealthiest Angelenos: Charles Munger - #36
Special Report: Wealthiest Angelenos 2011
Berkshire Hathaway vice chairman’s net worth plummeted after transferring nearly half of Berkshire stock to family trust upon February 2010 death of wife, Nancy. “I don’t need them where I’m going,” he told Forbes.
Wealthiest Angelenos: Lowell Milken - #37
Special Report: Wealthiest Angelenos 2011
Big year for Michael Milken’s “little brother.” Sold off $134 million in shares of educational product maker LeapFrog Enterprises held with sibling.
Wealthiest Angelenos: Ray R. Irani - #38
Special Report: Wealthiest Angelenos 2011
Former Occidental Petroleum chief new to list and makes it based on accumulated converted stock options and performance-based stock grants worth nearly $900 million.
Wealthiest Angelenos: Neil Kadisha - #39
Special Report: Wealthiest Angelenos 2011
Wealth of former Qualcomm Inc. board member soared with return of San Diego telecom company’s stocks; his 14 million shares shot up by more than $250 million.
Wealthiest Angelenos: Marc Nathanson - #40
Special Report: Wealthiest Angelenos 2011
Saw modest gains in diversified investment portfolio, including holdings in stocks, energy and commodities.
Wealthiest Angelenos: Robert Maguire - #42
Special Report: Wealthiest Angelenos 2011
Former chief executive of Maguire Properties owns more than 5 million square feet of real estate, as well as sizable natural gas holdings, but it’s been tough year.
Wealthiest Angelenos: Frederick ‘Ted’ Field - #44
Special Report: Wealthiest Angelenos 2011
Movie producer’s Radar Pictures released only one picture last year, low-budget box office dud “Twelve.”
Wealthiest Angelenos: Michael Eisner - #45
Special Report: Wealthiest Angelenos 2011
Former Disney chief, still company’s second largest shareholder, saw fortunes swell after continued rebound of Mouse House.
Wealthiest Angelenos: Aubrey Chernick - #46
Special Report: Wealthiest Angelenos 2011
Super low-profile founder of security company National Center for Crisis and Continuity Coordination appears to be going strong in a time when security is a top concern.
Wealthiest Angelenos: John Shea - #43
Special Report: Wealthiest Angelenos 2011
Year of treading water for homebuilder. Value of family company J.F. Shea Co. held steady along with stock prices and revenues of rival public homebuilders.
Wealthiest Angelenos: Robert Day Jr. - #47
Special Report: Wealthiest Angelenos 2011
Founder-chairman of investment giant TCW Group Inc. had relatively quiet year.
Wealthiest Angelenos: Peter Lowy - #49
Special Report: Wealthiest Angelenos 2011
Mall magnate’s shares up in family-run Westfield Group and spin-off Westfield Retail Trust.
Wealthiest Angelenos: Stephen Bing - #50
Special Report: Wealthiest Angelenos 2011
Recovering capital markets presumed to have pumped up estate of Hollywood playboy, who inherited New York real estate worth $600 million from grandfather.
Shoemaker Loses Sole Believer
COMMENT
Skechers has really stepped in it with its big bet on toning shoes, Charles Crumpley writes.
Image Could Use a Booster Shot
OP-ED: Hollywood routinely misdiagnoses the crucial and varied roles that nurses play in health care.
Hollywood’s portrayal of nurses could use a rewrite, according to Courtney H. Lyder.
A Modest Proposal on RFPs
OP-ED
City of L.A’s requests for proposals should be spurned, advises John S. Haskell.
It Was a Very, Very Good Year
Special Report: Wealthiest Angelenos 2011
The recession’s woes have receded for L.A.’s wealthiest residents, according the Los Angeles Business Journal's annual study.
Wealthiest Angelenos: Jeffrey Katzenberg - #41
Special Report: Wealthiest Angelenos 2011
Tough year for DreamWorks Animation chief despite hit “Shrek Forever After.”
Wealthiest Angelenos: Steven Spielberg - #8
Special Report: Wealthiest Angelenos 2011
Annual residuals topping $100 million and presumed strong investment returns more than compensated for declining value of his 5.4 million shares in DreamWorks Animation, which slipped 30 percent.
Wealthiest Angelenos: John Tu - #10
Special Report: Wealthiest Angelenos 2011
Co-founder and president of Kingston Technology’s wealth rebounded as growing demand for computers increased prices for memory chips.
Wealthiest Angelenos: Ronald N. Tutor - #48
Special Report: Wealthiest Angelenos 2011
Construction magnate-cum-movie mogul saw gains as shares of Tutor-Perini Corp. rose.
Wealthiest Angelenos: Kirk Kerkorian - #3
Special Report: Wealthiest Angelenos 2011
Declining shares at debt-laden MGM Resorts International and Delta Petroleum hit nonagenarian’s fortune.
Another Chapter for Inventor
Stanley Dashew, 94, writes book to share life, business lessons.
Nonagenerian Stanley Dashew has booked a new career as an inspirational author with “You Can Do It!”
Wealthiest Angelenos: Eli Broad - #2
Special Report: Wealthiest Angelenos 2011
Solid year for savvy philanthropist and civic leader, whose timely buys of gold a few years ago continued to boost diversified investment portfolio that includes First Republic Bank and auction house Sotheby’s.
Wealthiest Angelenos: Patrick Soon-Shiong - #1
Special Report: Wealthiest Angelenos 2011
Biotech billionaire Patrick Soon-Shiong solidified his reign atop the Business Journal’s Wealthiest Angelenos list after reaping his second big payday in recent years in October.
Wealthiest Angelenos: Alfred Mann - #29
Special Report: Wealthiest Angelenos 2011
Net worth of L.A.’s best-known entrepreneur tumbled after his MannKind Corp. hit by continued regulatory delays in approving inhalable insulin for diabetics.
Friday, May 13
The Week’s Big Movers
The Business Journal’s index of largest local public companies rose for the week as investors reacted to conflicting economic reports.
Cornerstone OnDemand Widens Loss
Shares of Cornerstone OnDemand Inc. fell Friday morning after the company reported a larger first quarter net loss that was a bit worse than expected.
Thursday, May 12
Disney-Owned Video Game Firm Agrees to Record FTC Settlement
An online game company acquired by Walt Disney Co. last year agreed to pay $3 million to settle federal charges that it earlier illegally collected and disclosed personal information from hundreds of thousands of children under age 13 without their parents' consent.
Forecast: Economy Rosier for L.A. County
L.A. County’s economic recovery will pick up steam over the next 18 months as the county sees a gain of 41,000 payroll jobs this year and another 63,000 jobs next year, according to the latest forecast by economists at California State University Long Beach.
Troubled Montebello Hires Larry Kosmont
Montebello has hired Los Angeles economic development consultant Larry Kosmont and his firm to manage the financially troubled city.
ILFC Names New CFO
International Lease Finance Corp. has named Elias Habayeb as chief financial officer, effective immediately.
DineEquity Launches Frozen Line of IHOP Products
DineEquity Inc.'s IHOP restaurant unit has entered into a licensing agreement to produce and distribute frozen breakfast items that will start out being sold at Walmart stores.
Wednesday, May 11
PC Mall to Offer Hyper-Local Deals on New Web Service
PC Mall Inc. is entering the online coupon business by leveraging its existing OnSale.com site, which will offer Groupon-style daily deals beyond the company’s traditional tech base.
American Apparel Narrows Loss
American Apparel Inc. reported a smaller loss in the first quarter and said a key revenue figure has improved in the current quarter and is expected to rise in the full year.
Federal Agency Delays Rentech Clean Fuels Project in Florida
Shares of Rentech Inc. fell nearly 9 percent Wednesday morning after the developer of clean biofuels said that its loan guarantee application for a proposed renewable energy center in Florida was put on hold by the U.S. Department of Energy.
KB Home to Build Solar Community in Valencia
KB Home has acquired 43 finished lots from Newhall Land in Valencia and plans to build solar-powered homes on the properties as part of its recently announce solar initiative.
Hudson Pacific Properties Moves to Loss in Quarter
Despite significantly higher revenue, Hudson Pacific Properties Inc. swung to a loss in the first quarter as the real estate investment trust saw higher operating costs and recorded charges associated with the loss of a large tenant from one of its Orange County properties.
Tuesday, May 10
Tix Board Rejects Shareholder's Acquisition Offer
The board of discount ticket seller Tix Corp. has rejected an offer by one of its largest shareholders to take the company private.
Disney Shares Fall After Quake, Lackluster Box Office Hurt Earnings
Shares of Walt Disney Co. fell more than 5 percent on Wednesday, a day after the entertainment giant said that its fiscal second-quarter earnings dipped 1 percent based on a variety of pressures, including disappointing box office performance for one of its animated films.
Warner Loss Smaller Than Expected
Warner Music Group Inc. reported a wider fiscal second quarter loss. The results weren’t as bad as Wall Street had expected, thanks to a 9 percent rise in revenue from digital music sales.
Monday, May 9
Wilshire Bancorp Launches $100 Million Stock Offering
Shares of Wilshire Bancorp Inc. fell 9 percent on Tuesday, a day after the Koreatown bank commenced an underwritten public offering of about $100 million of its common stock.
Live Nation and Groupon to Form Ticket Deal Site
Live Nation Entertainment Inc.’s Ticketmaster operation and online deal site Groupon announced a partnership to develop an online ticketing deal website called GrouponLive.
Online Games Boost Activision Blizzard’s Profit
Activision Blizzard Inc. reported 32 percent higher earnings in the first quarter, boosted by stronger online and download sales for its “Call of Duty” and “World of Warcraft” game franchises.
Andersons Make $50 Million Gift to Children’s Hospital Los Angeles
hildren’s Hospital Los Angeles said that longtime supporters John and Marion Anderson have made a $50 million gift for its new hospital building, which will be named in the couple’s honor.
Motorcar Parts of America Makes Canadian Acquisition
Motorcar Parts of America Inc. has acquired Fenwick Automotive Products Ltd. in a stock deal valued at more than $5 million. The acquisition will broaden the company’s product line.
Gores Group Acquires Sage Automotive Interiors
The Gores Group LLC. has partnered with management to acquire Sage Automotive Interiors, which makes textiles for automobile seats and other interior areas.
The Steep Price of Free
COMMENT
Charles Crumpley offers some free advice to newspapers giving away their product online.
Calendar & Events
Calendar
Apparel Maker Was No Longer Joined to the Hip
Metropark files for bankruptcy after losing trendy shoppers to rivals.
Falling out of fashion with the in crowd forces Metropark into Chapter 11.
Santa Monica Levy Hike Has Eateries Set to Walk
Corner Bakery Cafe and Il Fornaio see higher sidewalk fee as too steep.
Santa Monica’s new fees for sidewalk space give some restaurants reservations about staying in the city.
Jerry Neuman: Pillow Case
Sheppard Mullin Partner spends time away from the law firm at his hip Hollywood hot spot Playhouse – and sleeps only three to four hours a night.
Night owl and Sheppard Mullin Partner Jerry Neuman spreads his wings after work at a Hollywood hot spot he co-owns.
Posh Jeans Brand Squeezes Into Discount Chain
Lower-price Rock & Republic line seen as a good fit for Kohl’s.
Bankrupt high-end denim brand Rock & Republic has found a seat at discount chain Kohl’s.
Insurer Takes a Shot at Capping Cost and Choices
‘Tailored’ networks from Health Net limit doctor selection.
Health Net has revived networks that cap costs and the number of doctors from which to choose.
Taking Root Abroad
L.A.’s Grove serves as model for new mall in South Korea.
Developer has planted a Grove-like retail center in South Korea’s third biggest city.
Hoping for Positive Spins
New music label aims to score some hits with actual records.
New label Omnivore hopes for a record debut fueled by vinyl re-releases.
Getting A Seat at The Table
Eatery 1321 had to woo food vendors into delivering to Torrance.
Eatery 1321 initially hit a big roadblock as food vendors resisted delivering to Torrance.
Budget Fallout Hits Contractor
Fight over the federal budget has dragged down Ducommun’s contracting business and earnings.
Restaurants Resist Serving Up Price Hikes
Chains mull methods to offset rising cost of food.
Local restaurant chains coping with soaring food costs are reluctant to put big price hikes on the menu.
Software Security Firm Cries En Garde
CyberDefender aims to improve profile and stock price.
Security software maker CyberDefender has failed to lock up investor support despite revenue growth.
Wi-Fi Investors Want Better Connection for Shares
Boingo beat expectations but stock took dip after IPO.
Santa Monica Wi-Fi provider Boingo gets mixed signals for public offering.
Local, Online
L.A.-area musicians union makes tracks to web with radio station spotlighting members’ songs.
Local musicians’ union tunes up online radio station.
Handshake at the Hilton
PAGE 3
As usual, Carl Terzian last Monday morning headed off for the Regency Club in Westwood, where he has held morning breakfast meetings for years.
New Movie Studio Reels In Brentwood Office Space
REAL ESTATE: Open Road closes seven-year, $25 million deal for top-floor headquarters.
A new motion picture studio founded by Regal Entertainment Group and AMC Entertainment Group Inc. is establishing its headquarters in Brentwood.
Uptick in Volume May Not Presage Rising Prices
But sales for summer may increase as market finds its level.
Homes sales and prices in Los Angeles County in April fell again from the same month last year.
News of the Week
News of the Week
Regional Reports
Regional Report
Parking Break?
City of L.A. may ease space requirements
A city of L.A. proposal would give new businesses room to maneuver on parking space requirements.
CFOs Offer a Roadmap to Navigating Recovery
OP-ED
Michelle Kerrick surveyed chief financial officers for tips on navigating the recovery
Getting in Gear on Bikes
OP-ED: Arguments against sharing the road with cyclists should no longer be driving the discussion.
Richard Risemberg gears up to defend more bike lanes in Los Angeles.
Friday, May 6
The Week’s Big Movers
The Business Journal’s index of largest local public companies fell for the week on mixed earnings reports.
Demand Media’s Quarter Beats Street, Vows to Improve Quality
Demand Media Inc. reported first quarter results that beat Wall Street expectations, and announced changes to its editorial policies in an effort to improve the quality of its how-to articles and videos.
Obagi Shares Fall on Spate of Bad News
Shares of medical skin care company Obagi Medical Products plunged 24 percent on Friday after the company reported a quarterly loss, cut its profit guidance and three analysts downgraded shares.
Wider Loss at K-Swiss Despite Higher Revenue
Shares of K-Swiss Inc. fell early Friday after the athletic shoe maker said that despite higher revenue, its first-quarter loss widened because of higher expenses.
Tax Expense Hurts Superior Industries’ Quarter
Shares of Superior Industries International Inc. fell more than 9 percent early Friday after the aluminum wheel maker said that its first-quarter earnings declined because of a large income tax expense.
Warner Music Sold to Access Industries
Access Industries has reached an agreement with Warner Music Group Corp. to buy the company in a deal valued at $3.3 billion.
Thursday, May 5
Macerich Swings to Profit
Macerich Co. said that it moved from a loss to a small profit in the first quarter, but its funds from operations fell short of Wall Street forecasts.
Aecom Raises Full-Year Outlook
Aecom Technology Corp. raised its full-year earnings outlook, despite reporting slightly lower first quarter profit.
Latin American Growth Boosts DirecTV’s Quarter
Satellite TV provider DirecTV Group said growth in Latin American countries such as Mexico and Brazil helped boost its first quarter profit nearly 21 percent.
Tetra Tech Profit Rises on International Growth
Engineering and construction consultant Tetra Tech Inc., said that its fiscal second-quarter earnings rose 22 percent on improved international and commercial business.
Wednesday, May 4
Boingo Shares Sink Following $78 Million IPO
Boingo Wireless Inc. raised roughly $78 million in its initial public offering, but the stock lost 13 percent of its offering price in its first day of trading on Wednesday.
Health Net Posts Loss on Higher Legal Costs
Health Net Inc. moved to a loss in the first quarter, largely due to litigation and restructuring costs, but the health insurer’s adjusted results beat analysts’ expectations.
Warner Bros. Buys ‘Rotten Tomatoes’ Parent
Warner Bros. Home Entertainment Group it plans to acquire Flixster, which also runs the popular movie review site, “Rotten Tomatoes.”
Currency Charge Hurts Dole’s First Quarter
The Dole Food Co. said that despite sales growth, its first-quarter earnings plunged 91 percent due to refinancing of the company's yen cross currency swap. Shares rose in Wednesday morning trading as the adjusted results beat Wall Street expectations.
Larger THQ Loss Still Better Than Expected
THQ Inc. reported a larger fourth quarter loss mainly because of higher costs. The results still exceeded Wall Street forecasts.
Tuesday, May 3
Image Metrics Shares Move to New Exchange
Image Metrics Inc., a facial animation technology company, began trading Tuesday on the OTC Bulletin Board.
DineEquity More Than Doubles Quarterly Profit
Despite lower revenue, DineEquity Inc. said that its first quarter earnings more than doubled, largely due to higher sales at its Applebee's restaurants. Shares rose after the company raised its sales guidance.
Gores Brothers Bid for Warner Music Group
Billionaire brothers Tom and Alec Gores were among three groups of suitors submitting bids for Warner Music Group Corp. by Monday’s deadline, according to news reports.
Despite Good Quarter, International Rectifier Shares Fall on Outlook
Shares of International Rectifier Corp. fell nearly 8 percent Tuesday, despite a more than 22 percent rise in fiscal third quarter profit, as the chip maker forecast slightly worse gross margins for the current quarter.
PS Business Parks Sees Rise in Profit
PS Business Parks Inc. reported a 42 percent increase in first quarter net income, with funds from operations meeting Wall Street expectations.
Ducommun Shares Drop After Profit Falls Short of Expectations
Shares of Ducommun Inc. fell 9 percent on Tuesday, a day after the aerospace contractor reported a 31 percent decline in first quarter net income, in part due to expenses related to its acquisition of electronics maker LaBarge Inc.
Monday, May 2
Herbalife Shares Jump After Quarter Beats Expectations
Herbalife Ltd shares rose more than 13 percent Tuesday, a day after the weight loss and nutritional supplement company reported better-than-expected first quarter earnings.
Power Generation Unit Weighs Down Edison’s Profits
Edison International's first-quarter earnings fell 15 percent as poor results from its power generation group offset growth at its Southern California Edison utility. The results fell short of Wall Street expectations.
Mercury Profit Declines
Mercury General Corp. on Monday said that its first quarter profit fell 4.8 percent, largely due to higher costs from settling claims related to this year’s heavy storms in Florida and California. But its results beat analysts’ expectations.
Connecting Globally
Duo wins USC contest with computer chip that links phones to web.
A pair of engineers’ computer chip for smart phones rang up a $50,000 prize in a USC contest.
Got Him Covered
New magazine Carson takes title, inspiration from art director.
New magazine Carson isn’t named after the city but its creative director David Carson.
Why We Can’t See Housing Recovery
COMMENT
Charles Crumpley believes he knows why the floor hasn’t yet been hit on home prices.
Dating Website Operator Looking to Click Longer
New CEO of Spark hopes to extend services beyond romance.
The new chief of dating site operator Spark hopes to extend his customers’ relationships with nonromantic websites.
Marquee Move
Producer-distributor Bigfoot steps into exhibition by buying Westwood venue.
Movie maker and distributor Bigfoot has a toehold in exhibition with the acquisition of Westwood’s Crest Theatre.
New Leasing Website Goes for Broker
SuiteSearch lines up smaller spaces for tenants.
Website SuiteSearch has carved out space in commercial leasing by thinking small.
Seeing Safety in Vestment
Filmmaker produces a survival kit that you can wear.
Stanley Isaacs feels his survival kit in a vest is a good fit for quake-prone Los Angeles.
Can Markets Bear a Strike?
Chains, union have less in the bag this time.
Analysts see nothing good in store from a strike for L.A. chains and union workers.
20 in their 20s - Whitney Port
Special Report: 20 in their 20s
When Whitney Port launched her clothing line, Whitney Eve, she had more to worry about than the average designer. That’s because her first day of business was broadcast to millions on the MTV show “The City,” a two-season spinoff of “The Hills” that centered on her adventures as a budding entrepreneur.
20 in their 20s - Erica Tucker
Special Report: 20 in their 20s
From running nail salons to a bakery to a law firm, these young entrepreneurs got an early start in making their way in the business world.
20 in their 20s - Max Baumann
Special Report: 20 in their 20s
From running nail salons to a bakery to a law firm, these young entrepreneurs got an early start in making their way in the business world.
20 in their 20s - Casey Hunt, Reza Rasoli and Greg Gunn
Special Report: 20 in their 20s
From running nail salons to a bakery to a law firm, these young entrepreneurs got an early start in making their way in the business world.
20 in their 20s - Omid Semino and Mahyar Asher Eghbali
Special Report: 20 in their 20s
From running nail salons to a bakery to a law firm, these young entrepreneurs got an early start in making their way in the business world.
20 in their 20s - Raymond J. Zolekhian and Robin Hanasab
Special Report: 20 in their 20s
From running nail salons to a bakery to a law firm, these young entrepreneurs got an early start in making their way in the business world.
20 in their 20s - Garner Gerson
Special Report: 20 in their 20s
From running nail salons to a bakery to a law firm, these young entrepreneurs got an early start in making their way in the business world.
Welcome Back
L.A. hotels upgrade, expand as sector recovers
Hotels across Los Angeles are booking renovations and expansions as occupancy rates bounce back.
David Burcham: New Calling
Attorney and professor laid down the law literally to become the first layperson to serve as president of Loyola Marymount University.
Former attorney David Burcham now courts deep-pocketed donors as president of Loyola Marymount University.
Far From Being the Biggest Loser
PAGE 3
J.D. Roth, executive producer of NBC’s “The Biggest Loser,” will have a second weight-loss show in prime time when “Extreme Makeover: Weight Loss Edition” debuts May 30 on ABC.
Regional Reports
Regional Reports
20 in their 20s - Tim Kim
Special Report: 20 in their 20s
Tim Kim’s father is a construction worker who always loved to invent things. Unfortunately, he never followed through with his brainstorms.
20 in their 20s - Alex Tao and Jeff Okita
Special Report: 20 in their 20s
Alex Tao, 24, and Jeff Okita, 24, co-founded Six Taste, a Los Angeles company that organizes restaurant tours of neighborhoods.
20 in their 20s - Alle Fister
Special Report: 20 in their 20s
Alle Fister, 29, founded Bollare, a West Hollywood and New York PR company.
20 in their 20s - Nick Jacobs and J Wolf
Special Report: 20 in their 20s
Nick Jacobs, 26, and J Wolf, 28, co-founded Glendon Bar & Kitchen in Westwood Village.
20 in their 20s - Margo Siegel
Special Report: 20 in their 20s
Margo Siegel, 26, founded Margo Siegel Public Relations, a Beverly Hills PR firm for jewelry and accessories companies.
20 in their 20s - Chris K. Achar
Special Report: 20 in their 20s
Chris K. Achar, 26, founded Genesis Life Sciences and Divya Wines of Los Angeles.
20 in their 20s - Samira Asemanfar
Special Report: 20 in their 20s
Samira Asemanfar, 28, founded Bellacures Franchising LLC.
Santa Monica Shoemaker Steps Into Playa Vista
REAL ESTATE: Toms sees a better fit alongside creative firms at 5404 Jandy Place.
The Playa Vista area is gaining another high-profile creative tenant. Toms Shoes Inc., a five-year-old trendy canvas footwear company known for donating pairs of shoes to the needy, is moving its headquarters there.
Calendar & Events
Calendar
News of the Week
News of the Week
Owner of Beverly Hilton Takes Hotel Off the Block
Oasis West to pursue equity partner and restructure debt.
Owners have placed a do-not-disturb sign on the previously for-sale Beverly Wilshire hotel.
$25 Million Gift Puts Fundraising Goal in Reach
Anderson School also bolsters its independence campaign.
John Anderson’s $25 million gift could buoy a plan for self-sufficiency at UCLA’s management school.
Failed Corporate Credit Union Banks on New Board
Ex-directors of WesCorp still fighting billion-dollar lawsuit.
A failed corporate credit union has named new directors even as former ones face a lawsuit over its collapse.
Coming Clean on Green
OP-ED: Backers of eco-conscious businesses should stop the hot air about the companies’ profitability.
Bill Gunderson asks why green companies shed so much red ink.
Pipeline Needs Some Breathing Room, Just in Case
OP-ED
Julian Keeling sees Just-In-Case as a reduced-pressure alternative to Just-In-Time.
Three National Firms Set Up Court in Los Angeles
Recent run of office openings has some local lawyers hailing a recovery.
Los Angeles is building a case for recovery as three national firms open offices here.