Stories for November 2011

Wednesday, November 30

Nara-Center Financial Merger Completed

Nara Bancorp Inc. and Center Financial Corp. have completed their long-awaited $286 million merger, creating the nation’s largest Korean American bank.

Disney Sells $1.6 Billion in Bonds

The Walt Disney Co. sold $1.6 billion in bonds this week as the Burbank entertainment giant took advantage of low interest rates to raise operating capital.

Tuesday, November 29

BreitBurn Energy’s Largest Shareholder Plans Sell-Off

Quicksilver Resources Inc. announced a public offering of partnership units it owns in competitor BreitBurn Energy Partners L.P., a move that likely will lead to its exit from the Los Angeles oil and gas developer.

Japan Approves Staar Surgical’s Lens for Astigmatism

Staar Surgical Co.'s Visian implantable lens for people with astigmatism has been approved for sale in Japan, a potentially huge market for the Morovia company.

Hudson Pacific Buys CIM Group Headquarters

Hudson Pacific Properties Inc. has bought a 12-story office building on Hollywood Boulevard from real estate company CIM Group for $92.5 million.

Monday, November 28

Broadway Financial Gets Nasdaq Warning

Broadway Financial Corp. said it received a warning letter from the Nasdaq Small-Cap Market because the bank holding company had not yet filed its third-quarter earnings report with the Securities and Exchange Commission.

Cinemills Acquires Controlling Interest in LED-Z

Cinemills Corp., a maker of studio lighting systems for the entertainment industry, has acquired a controlling interest in LED-Z LLC, a maker of specialty studio lighting products.

Growth, Totally

‘Valley Girl Show’ host no dummy when it comes to distribution deals.

“Valley Girl” host is, like, serious about growing distribution for her tech- and business-focused show.

Euro Zone Puts Squeeze on Clothing Manufacturer

Guess’ Italian exposure particularly troubling to investors.

Financial issues in Italy and Europe have investors questioning Guess’ reliance on those markets.

Rock Out

Canadians to ship aggregate as L.A. grovels for gravel

Local company looks to rock the industry by shipping aggregate from Canada to Long Beach.

Station May Fill L.A.’s PBS Void

KOCE revamps to poach former KCET viewers.

Orange County’s PBS station looks to click with KCET’s former L.A.-area viewers.

Occupy a Career

OPED: Wall Street protesters are developing organizational and networking skills that would help in the business world.

Occupy protesters are working toward skills that would serve them well in the business world, according to Stanley A. Dashew.

News of the Week

News of the Week

New Software Allows Nonmusicians to Speak Up

TECHNOLOGY: Music Mastermind’s Zya lets players turn vocals into instrument sounds.

Music Mastermind has launched software that lets aspiring musicians create their own songs – without ever picking up an instrument.

Special Effects Maker’s IPO Fails to Wow Audience

MEDIA & ENTERTAINMENT: Digital Domain Media’s shares tumble after opening.

No amount of special effects wizardry could make Digital Domain Media Group Inc.’s Nov. 18 initial public offering look good to investors.

Be Afraid? Or Be Very Afraid?


Charles Crumpley fears not-so-friendly financial fire from forecasted “tax war.”

New Player Checks In With Community Bank Union

Carpenter joins elite ranks of institution acquirers in SoCal.

Carpenter & Co. builds SoCal presence with merger of Pasadena and El Segundo institutions.

Were Ex-Execs Good Fit For L.A. Clothing Maker?

Some analysts still see financial problems for American Apparel.

Analysts question recent departure of execs who tried to refashion American Apparel.

Regional Reports

Regional Reports

Calendar & Events


Downtown Los Angeles Grows on Bank Tenant

REAL ESTATE: Promerica remains in area but takes bigger headquarters space.

Promerica Bank is moving its downtown L.A. headquarters from a nearby building into expanded offices at 888 W. Sixth St.

Shuffling Back Into the TV Dance Game


The “Dance Doctor” is taking his groove back to the small screen after sitting out of the TV development business for years.

Shoppers to Find More Cents Here, Dollars There

Rival discount chains look to add stores in county and state.

Low-price chain 99 Cents Only discounts competition from rivals as it plans more stores.

Consultant Warns L.A. Of ‘Tax War’ Crossfire

Larry Kosmont sees business bearing brunt of levy hunt.

Consultant Larry Kosmont warns local businesses will be targeted in cities’ looming “tax war.”

L.A. Learning to Curb High School Dropouts


Robert Balfanz and Elise Buik praise a program that works to curb students from quitting high school.

Bowling Them Over?

Smoothie chain Robeks looks to juice up sales with new dessert.

Smoothie chain Robeks Juice looks to spoon feed customers its new yogurt dessert in a bowl.

Everyone Is An (Art) Critic

Muralists sue, allege Ritz-Carlton cleaning crew threw out work.

Artists claim AEG-owned Ritz-Carlton Residences was flat-out wrong to toss their murals in the trash.

Tiny Drone Takes Wing

AeroVironment’s Nano Hummingbird gets lift from magazine cover.

Buzz for AeroVironment’s Nano Hummingbird drone has taken off after a Time magazine profile.

El Segundo Gets More Creative

Office space developer eyes media, tech tenants.

Larry Field hopes to plug media and tech tenants into his new creative office space in El Segundo.

Jet Travel Taking Off in Van Nuys

Three new tenants move in to land some of the traffic.

Van Nuys Airport’s profile gets big lift from more jet travel and influx of tenants.

Wednesday, November 23

U.S. Supreme Court Asked to Block L.A. Grocery Worker Ordinance

The Pacific Legal Foundation said that it has petitioned the U.S. Supreme Court to review and reject the City of Los Angeles' grocery worker retention ordinance.

Green Dot Approved to Buy Bank

Green Dot Corp. said that banking regulators have signed off its plan to buy a small bank in Utah, an acquisition that will allow the Monrovia prepaid debit card company to streamline its business.

Passenger Traffic Up at LAX

Passenger traffic at Los Angeles International Airport rose slightly last month from a year earlier, as a still struggling economy continued to be a drag on both passenger and air cargo activity.

Cancer Drug Developer Puma Completes Funding Round

Cougar Biotechnology founder Alan H. Auerbach’s latest cancer treatment venture, Puma Biotechnology, has completed the second stage of a $60 million private financing.

Tuesday, November 22

Culver City Shopping Center Sold for $115 Million

Pegasus Investments announced that Culver Center has been sold to a Florida real estate investment trust for $115 million in one of the largest deals of its type so far this year.

Professional Business Bank and Bank of Manhattan to Merge

The holding companies of Professional Business Bank and Bank of Manhattan on Tuesday announced that they would merge in a stock transaction creating a combined bank with assets of more than $406 million.

Monday, November 21

Mattel CEO Robert Eckert to Retire

Mattel Inc. announced that Robert Eckert, its chief executive for 11 years, will retire next month at the end of the holiday selling season.


Special Report

The Business Journal spotlights the five companies that set the pace for L.A.’s fastest growing private companies.

Insulin Inhaler Too Puffed Up?

Investors allege MannKind misled on testing.

Some investors wonder if MannKind was blowing hot air about the company’s inhalable insulin product.

Law Firm Renews, Locks In Santa Monica Space

REAL ESTATE: Del Shaw signs for five years as tech industry influx pushes up rents.

Entertainment law firm Del Shaw Moonves Tanaka Finkelstein & Lezcano has decided to remain in its Santa Monica headquarters for another five years.

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Tax Relief Drives Dealership War

Beverly Hills, L.A. fight for luxury car brands.

A holiday from city of L.A.’s gross receipts tax drives BMW and Porsche dealers to ditch Beverly Hills.

Ex-Myspace Chief Hatches Hybrid Incubator


Ex-Myspace CEO launches Science to incubate, accelerate and invest in startups.

Rushing In

Slew of new ‘accelerators’ vie to guide startups

Business accelerators seem to be gaining momentum to help shepherd startups through their early months.

Thrill-Ride Maker’s New Twist

Goddard Group lands urban design job for new Chinese city.

Thrill-ride designer Goddard had to change tracks when it landed a project to design an urban center for a new Chinese city.

Business-Deal Site Finds Rival Too Good to Ignore

RapidBuyr tightens niche with pickup of L.A.’s

Competitor RapidBuyr thinks it got a good deal in buying Westlake Village discount site BizDeals.

Paradigm Shift From Film Gives Cinedigm a Boost

MEDIA & ENTERTAINMENT: Woodland Hills firm provides digital conversion services.

Say goodbye to those circular specks in the top right corner of your local movie theater screen.

Gas Station Video Network Scores NFL Highlights

ADVERTISING & PR: Outcast to run pro football clips with ads on pump-mounted screens.

Outcast Media, a Santa Monica company that owns a network of 13,000 video screens on gas station pumps, has signed a deal with the NFL Network to show pro football highlights to drivers while they’re filling ’er up.

Keeping Tech Stars in L.A.


Technology is L.A.’s brightest economic sector, but Charles Crumpley frets that it may seep away to a tech Mecca like Silicon Valley.

Kid’s Gloves Come Off in Fight Over Baby Products

Munchkin in battle over claims with competitor Playtex.

Baby product maker Munchkin’s lawsuit raises a stink over claims made by rival Playtex.

Thanksgiving Turkey

OPED: Congressional super committee’s plan to cut Medicare and Medicaid leaves a bad taste in the mouth.

Louise McCarthy would have something to be thankful for if Medicare and Medicaid cuts were off the table in Washington.

Workers’ Comp Pioneer Reaches End of the Trail

Zenith CEO Stanley Zax retiring as industry profits wane.

Longtime Zenith CEO and innovator Stanley Zax plans to retire just as higher workers’ comp premiums are expected to hit.

Eco-Friendly Company Sees Little Green From Italy

Cereplast stock falls after debt crisis hurts customers’ ability to pay.

The debt crisis has left Italian customers in the hole with El Segundo’s Cereplast.

Some Investors Have Trust Issues With REIT Plan

Stock price falls as Thomas Properties pursues business makeover.

Not all investors are trusting Thomas Properties’ plan to become a REIT.

Select Few Orchestrate Repeat Performances


A spot on fastest growing list is an annual tradition for some businesses.

Acquisitions, New Lines of Business Fuel Growth


Not all fast growing companies are small. Bigger companies tap new lines of business and acquisitions to fuel growth.


Special Report

The Business Journal spotlights the five companies that set the pace for L.A.’s fastest-growing private companies.

Fastest Growing Private Companies

Special Report


Private Sector Veteran Looks to Anchor Long Beach

New port chief J. Christopher Lytle says he gets companies’ issues.

Former business exec J. Christopher Lytle will replace a career bureaucrat at the rudder of the Long Beach port.

News of the Week

News of the Week

Calendar & Events


Regional Reports

Regional Reports

Wealth of Guests

Luxury Link helps hotels check in with rich customer demographic.

Luxury Link is still clicking after the recession by connecting high-end hotels with wealthy customers who still want a bargain.

Cafe Documentary Might Unveil Seedy Side


Stick around Hollywood long enough and you’re bound to get in to the film business. Just ask Vince Jung, owner of West Hollywood’s Formosa Café.

Royal Treatment

Ad firm Pitch updates Burger King crown for first time in 30 years.

Pitch Agency has Burger King headed for change with a redesigned kid’s crown for the fast-food chain.

Sightseeing Rivals Fight Over Site

CitySights L.A. accuses Starline of hijacking ticket-selling location.

Sightseeing-bus rivals may tour the inside of a courtroom in a fight over ticket-selling spot.


Special Report

The Business Journal spotlights the five companies that set the pace for L.A.’s fastest-growing private companies.


Special Report

The Business Journal spotlights the five companies that set the pace for L.A.’s fastest growing private companies.


Special Report

The Business Journal spotlights the five companies that set the pace for L.A.’s fastest growing private companies.

Friday, November 18

American Apparel’s Turn-Around Consultant Leaves

American Apparel Inc.'s acting president Tom Casey, who was brought in to help turn around the troubled company a year ago, has resigned.

The Week’s Big Movers

The Los Angeles Business Journal’s index of largest local public companies closed down slightly for the week as investors awaited action in Congress on a deficit reduction plan.

L.A.’s Unemployment Rate Improves a Bit

L.A. County’s jobs picture showed broad improvement last month as the unemployment rate dipped to 12.2 percent and the county added 32,000 payroll jobs over the month.

Smaller Dole Loss Still Disappoints

Shares Dole Food Co. fell 9 percent on Friday morning after the world’s largest fresh fruit and vegetable producer reported a third-quarter loss that, while smaller than last year, still missed Wall Street expectations.

Thursday, November 17

Traffic Down at Long Beach Port

The Port of Long Beach handled about 20 percent less cargo in October than it did the same month last year, continuing a downward trend that started in July.

MGA Entertainment Wins Another Bratz Case

A federal court judge in New York has thrown out another Bratz patent infringement case against MGA Entertainment Inc.

Gores Group Acquires Building Materials Firm

Gores Group has acquired the remaining ownership of Stock Building Supply Holdings LLC, a North Carolina company that supplies building materials to professional home builders and contractors across the country.

Wednesday, November 16

Hot Topic Does Better Than Expected

Hot Topic Inc. outperformed analyst expectations even as revenue fell in the third quarter.

Arrowhead Implements Reverse Stock Split

Pasadena nanomedicine company Arrowhead Research Corp. late Wednesday said it carried out a 1-for-10 reverse stock split of common stock that had been earlier approved by its board and shareholders.

B2B Daily-Deals Site Acquired, a Westlake Village business-to-business online site offering up weekly deep discount deals for small businesses, has been acquired by a Massachusetts competitor.

TrustedID Acquires, a Santa Monica company that helps consumers unsubscribe from unwanted email, has been acquired by TrustedID.

Tuesday, November 15

Zenith's Stanley Zax to Retire

Zenith National Insurance Co. Chief Executive Stanley Zax, who built the Woodland Hills insurance carrier into a major national workers’ compensation insurer, will retire next month.

Jacobs’ Profit Grows

Shares of Jacobs Engineering Inc. gained nearly 8 percent on Tuesday after the company reported fiscal fourth-quarter profit jumped 22 percent. The earnings figure exceeded Wall Street expectations, although revenue fell slightly short.

Simulations Plus Sells Non-Core Subsidiary

Pharmaceutical industry software developer Simulations Plus Inc. is selling its wholly owned Words+ subsidiary to an Ohio company for $2.1 million.

Hanmi Prices $70 Million Stock Offering

Shares of Hanmi Financial Corp. fell more than 7 percent Tuesday morning after the Koreatown bank priced a $70 million stock offering below the previous day’s close.

L.A. Port Traffic Improves

The Port of Los Angeles handled more cargo in October than it did the same month last year, posting its first growth since June.

Monday, November 14

Air Lease Corp to Sell Convertible Debt

Air Lease Corp. announced plans to sell $300 million in convertible senior notes, proceeds of which be used to buy aircraft and for general corporate purposes.

Disney Buys Mom Blogger Site Babble

Walt Disney Co. has acquired Babble Media Inc., an online site that features more than 200 mothers who write blogs on a variety of parents’ topics.

Affordable-Housing Complex in Rare Territory

REAL ESTATE: Pacoima property’s $69 million sets high point for Los Angeles this year.

A 430-unit affordable-housing apartment complex in Pacoima traded hands for $69 million this month, in the largest sale of its kind in Los Angeles County this year.

Lawyer Holds Home Court in Long Beach

Samuel “Skip” Keesal’s influence has grown in Long Beach along with his law firm.

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Jamming In Hot Peppers

Jenkins Jellies hopes its Hell Fire product proves a hot item.

Hillary Danner brings the heat with her Hell Fire Pepper Jelly.

Standing Up For Museum Is No Joke

Comedian thinks he and his peers should be institutionalized.

Stand-up Steven Alan Green hopes to laugh last over his proposal for a comedy museum.

Going for Broker in Video Game

Farmers Insurance adds virtual property to Facebook’s Cityville.

Farmers looks to carve out a new space online by participating in Facebook game Cityville.

Off the Charts

Special Report: HEALTH CARE

Local hospitals are rolling with earthquake safety improvements while also upgrading facilities to draw more customers.

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Ex-Employees to Plead Guilty to Information Theft

Plea deal could clear way for Hydra owners to seek damages.

Ex-Hydra employees to plead guilty to stealing information, clearing way for investors in defunct firm to seek damages.

Troubled Lender Banks On New Business Plan, Name

BANKING & FINANCE: Newly dubbed EH to focus on Lebanese, Armenian businesses.

Excel National Bank, a six-year-old Beverly Hills lender that had struggled with declining credit quality, last week announced an overhaul of its business, including the hiring of new management and a major shift in its lending focus.

Giving Until It Hurts


Charles Crumpley is not real charitable toward businesses that donate a portion of sales to good causes.

Property Owner Shuffles Tenant, Sheds Buildings

MPG walks away from two Glendale office towers.

MPG shuffles big tenant from Glendale to downtown L.A. as it sheds properties.

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National Protest Flips Switch for L.A. Credit Unions

Institutions feast on new customers on Bank Transfer Day.

Local credit unions give a good accounting as new members flock in on Bank Transfer Day.

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L.A. Effects Firm Not So Special?

Digital Domain looks for less with IPO.

IPO for Digital Domain doesn’t look so good as special effects firm fails to wow Wall Street.

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Port’s HQ Plan Takes on Water

Long Beach developer looks to sink ‘done’ deal.

Politically connected developer has blown off-course the Long Beach port’s plan to buy a new headquarters building.

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Speaking Volumes

Law firms shrink libraries, ax staff as cuts rule

L.A. firms court cost cuts as minding the bottom line becomes the new business model.

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Potential Home Owners Get No Credit


Ted Lux has never seen loan-seeking homeowner hopefuls so unwelcome at banks.

Squeezing Out Contractors

OP-ED: New state law punishing businesses that ‘misclassify’ employees will kill jobs and only benefit unions.

Pamela Wasley sees the state’s new law on classifying contractors as a boon for labor but a bane for business.

Joseph Mazin: Novel CEO

Flamemaster CEO shares his personal and family’s Iraqi immigrant history in a fictional story about a Hollywood mogul, ‘The Dream Master.’

CEO and recently self-published novelist Joseph Mazin runs his industrial chemical company by the book.

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Computer Retailer Has Something Brewing in China

Newegg adds coffee to menu while growing links to Asia.

Internet retailer Newegg hopes to crack the Chinese market in order to boost sales.

Distributor of Car Parts Hits Roadblock With Pickup

U.S. Auto Parts’ shares fall as it works to integrate JC Whitney.

Investors have put the brakes on U.S. Auto Parts after its struggles to integrate a key acquisition.

A New Look

Formerly fashioncentric Melrose Place looks for broader retail mix to revive buzz and foot traffic.

Former apparel-focused Melrose Place is fashioning a comeback with a broader mix of tenants.

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Auditor Marches to His Own Drum


When Serge Louchnikov isn’t crunching numbers as an auditor, he’s been learning how to protect the country … in a crunch.

Online Advertiser Scores With Investment Campaign

TECHNOLOGY: Latest funding round gives GumGum $7 million to chew on.

Facing increased competition in the crowded online advertising industry, ad network GumGum has raised a round of funding to improve its technology and increase staff.

Calendar & Events


Regional Reports

Regional Reports

Friday, November 11

Kennedy-Wilson Prices Stock Offering at a Discount

Shares of Kennedy-Wilson Holdings Inc. fell 5 percent on Friday after the company priced a 6 million-share offering at a discount.

The Week’s Big Movers

The Business Journal’s index of largest local public companies closed up slightly after Italian lawmakers approved economic reforms, easing investors' fears about the European debt crisis.

Cereplast Slumps After Announcing Offering

Stock of Cereplast fell 28 percent after the company announced agreements to sell an offering to institutional investors.

Air Lease Corp. Grows Fleet, Records Quarterly Profits

Air Lease Corp. announced that it swung to a profit in the third quarter and that its fleet of airplanes has grown.

Thursday, November 10

Disney’s Profit Jumps on Theme Park, Pay TV Growth

Walt Disney Co’s fiscal fourth-quarter earnings rose 30 percent, boosted higher spending by visitors at its theme parks and revenue growth at its ESPN and Disney Channel pay TV operations.

Technical Services Revenue Boosts Aecom’s Quarter

Aecom Technology Corp.'s fiscal fourth-quarter earnings rose 29 percent on revenue growth in its professional technical services division. The profit exceeded analysts’ forecasts, but revenue was lower than expected.

Obagi Medical Reports Strong Quarter, Plans for Online Pharmacy

Obagi Medical Products announced strong quarterly earnings and plans for a new online pharmacy.

Wednesday, November 9

Sport Chalet Turns a Profit, Beats Expectations

Sport Chalet reported a quarterly profit, beating Wall Street estimates with higher sales both in stores and online.

Derycz Scientific Appoints New CFO

Derycz Scientific, a distributor of medical and technical articles online, has hired Alan Urban as its chief financial officer.

Filing, Downgrade Dent U.S. Auto Parts Stock

Mounting losses and an analyst downgrade pushed down shares of U.S. Auto Parts Networks more than 20 percent.

Lionsgate Entertainment Slumps on Lower Revenue, Narrow Losses

“Conan the Barbarian” wrought havoc on Lionsgate Entertainment’s stock early Wednesday when the company reported narrower losses but significantly lower revenue.

Tuesday, November 8

LAANE Announces Leadership Change

The Los Angeles Alliance for New Economy has announced that Madeline Janis will step down as executive director to focus on an environmental development initiative.

RadNet Buys 21 Medical Imaging Facilities

RadNet has purchased 21 imaging facilities in Maryland, Delaware and Rhode Island, comprising most of the U.S. operations of CML HealthCare Inc.

Demand Media Narrows Loss

Shares of Internet content firm Demand Media rose 7 percent after the company reported improved results for the third quarter.

Monday, November 7

Kennedy-Wilson Announces Stock Offering

Kennedy-Wilson Holdings announced a secondary offering of 6 million shares of stock.

‘Puss in Boots’ Box Office Moves Dreamworks Higher

Shares of Dreamworks Animation gained 12 percent as investors cheered the box-office results of the studio’s “Puss in Boots” movie.

Nara and Center Bank Clear Hurdle for Merger

Nara Bancorp and Center Financial Corporation announced they had received the final regulatory approval needed to merge the two banks.

Amgen Announces $5 Billion Buyback Plan

Shares of Amgen gained nearly 5 percent Monday after the company announced a plan to buy up to $5 billion of its stock.

Jury Out on Legal Giant’s Merger

O’Melveny loses revenue, partners after East Coast union.

The union with an East Coast firm has cost L.A. law giant O’Melveny partners, prestige and revenue.

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Body Scan Ban Halts OSI Sales

Firm submits software fix to TSA.

OSI may be the picture of health as it strives to get through the upgrade of its controversial “nude” body airport scanners.

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Rail Hub Project Seeks Fast Track

Deadline nears for mixed-use One Santa Fe.

Mixed-use project at former rail hub near downtown L.A. looks to get back on track.

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L.A.’s Biggest Bank Retains Crown for 10th Year

City National holds off East West to keep winning streak alive.

City National tops the Business Journal’s list of biggest locally based banks for the 10th year in a row.

Regional Reports

U.S. HealthWorks Medical Group in Valencia-based has been selected by the Defense Supply Center i to operate two health centers.

Not So Hard to Swallow

Ex-investment bankers find candy business is really their bag.

Former bankers now lead the sweet life as co-founders of candy company Taste of Nature.

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For a Few Clicks More

Friendgiftr helps users tap friends, family to pay for online items.

Friendgiftr’s FriendPay lets users line up their social circle to help them pay for items online.

Giving In

Web startups link business model to charity

Internet companies hope to click with customers by linking philanthropy to their business models.

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Calendar & Events

Events of interest to the Los Angeles business community

Hollywood Chamber Turns Spotlight on Area Boosters

Couple’s magazine has long touted area as tourism destination.

Hollywood chamber stages big thank-you for a local magazine and its co-owners’ longtime support.

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Refined Taste Hard To Beat

Student’s dissolvable sugar packets win national competition.

High schooler Hayley Hoverter gets her first taste of success as her dissolvable sugar packets win a national competition.

Los Angeles Sees Big Spike In Small-Business Loans

BANKING & FINANCE: $1.6 billion for fiscal year a record high for local district.

Small-business lending declined sharply after the financial crisis, but things are finally starting to get back to normal.

Soccer Documentary Gets Ball Rolling on Internet

MEDIA & ENTERTAINMENT: Distributor D&E turns to Facebook, e-mails in low-cost ad campaign.

Evan Saxon and Doug Kluthe, partners at Hollywood independent film distribution company D&E Entertainment, are betting on the underdog at this weekend’s box office.

Port of L.A. Expects Lift From Razing Structures

TRADE & TRANSPORT: Scrap, salvage expected to offset expense of demolition.

How much does it cost to demolish a decades-old tank farm located on prime waterfront real estate at the Port of Los Angeles?

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Nine-Building Acquisition Soups Up South Bay

REAL ESTATE: L&B’s deal for $38.1 million is region’s largest so far this year.

L&B Realty Advisors LLC has purchased a nine-building industrial portfolio in Torrance for $38.1 million in the South Bay’s largest portfolio sale this year.

Top of Havana, in Darkness and Light


As a downtown L.A. business leader, Carol Schatz is no stranger to high-rises.

Checking In

Bank-investor Don Griffith looks to repeat his success after the savings and loan collapse by guiding Grandpoint’s acquisition of today’s busted banks.

World traveler Don Griffith now sees a lot of returns as CEO of bank-acquiring Grandpoint Capital.

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‘Why’ Not?

OPED: Some common-sense questions must be answered before the United States can gets its economy back on track.

David R. Misch questions the lack of answers being provided to some fundamental economic questions.

High-Speed Rail Still Fits Bill Despite Higher Cost

OPED: California voters had a long-term vision when they approved the project in 2008.

David C. Murphy sticks with the state’s high-speed rail plan despite a recent cost hike.

Go Cap-and-Trade Yourself


Cap-and-trade hot air should be harnessed to scale back state government, writes Charles Crumpley.

Los Angeles Comes Out Ahead With Brew Maker

Pabst scores bargain lease in move to Westside.

Beer maker Pabst signs Blue Ribbon lease for its new Westside headquarters.

Small-Cap Businesses Look to Reverse Fortunes

Companies do reverse splits as way to join large exchange.

Four small-cap L.A. companies share the same goal of graduating to a big exchange through reverse stock splits.

Ball Just Doesn’t Bounce Ex-Reality TV Star’s Way

Fantasy sports business faces sale after failing to score revenue.

Fantasy sports business fails to score enough revenue under ex-reality TV star boss.

Changing Channels

Local companies pursue additional work from rollout of 3-D networks.

Local graphic and postproduction companies look to channel more work as networks roll out 3-D fare.

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Investors Take Rooting Interest in Fertilizer Business

Shares soar for Westwood’s Rentech as IPO for its spinoff nears.

Rentech’s stock reaped gains on the back of its upcoming IPO for its fertilizer spinoff.

Friday, November 4

The Week’s Big Movers

The Los Angeles Business Journal’s index of largest local public company stocks declined slightly after three weeks of solid gains.

Thursday, November 3

RealD Loses Samsung Deal

Shares of RealD, a maker of 3-D imaging technology, plunged more than 20 percent on Thursday after the company said Samsung Electronics had pulled out of a deal to make TV screens with RealD technology.

DineEquity Falls on Lower Sales

Share prices of DineEquity fell in early trading Thursday after the restaurant company announced higher earnings but lower sales for the third-quarter.

K-Swiss Narrows Loss

Footwear manufacturer K-Swiss reported a smaller loss for the third quarter but still missed Wall Street estimates, sending shares sharply lower on Thursday morning.

Wednesday, November 2

Downgrade Slices ReachLocal’s Value

ReachLocal shares lost more than a quarter of their value Wednesday after the company reported a wider loss and an analyst cut his rating of the stock to “hold” from “buy.”

United Online to Launch Mobile NetZero Service

United Online has signed a deal to make high-speed mobile service available under the company’s NetZero brand.

DirecTV Closes on Massive Lease

DirecTV Inc. closed on a 630,000 square foot lease that will eventually expand to 720,000 square feet at El Segundo’s Kilroy Airport Center. The 15-year lease, valued at roughly $400 million, is the largest in the state in the last decade.

Macerich Shares Up on Quarterly Results, New Chicago Mall

Shares of shopping mall owner Macerich Co. rose Wednesday morning after the company announced a new mall project and improved third-quarter results.

Big Five Scores in Third Quarter

Shares of Big Five Sporting Goods Corp. spiked 20 percent after the company reported higher than expected third-quarter results.

Tuesday, November 1

Downgrade Pushes Ryland Shares Lower

Shares of Ryland Homes fell 6 percent after an analyst downgraded the stock to “hold” from “buy.”

New Regional Export Council to Aid L.A. Businesses

Aiming to give businesses an easier way to start exporting their goods to the world, Mayor Antonio Villaraigosa’s office on Monday announced the creation of the Los Angeles Regional Export Council.

Herbalife’s Earnings Up But Guidance Down

Herbalife Ltd. reported strong earnings but lower guidance. Its stock declined in trading Tuesday morning.