Stories for April 2012

Monday, April 30

Demand Media Shares Rise on Report of Aborted Takeover Deal

Shares of online publisher Demand Media Inc. gained more than 14 percent on Monday following a media report that it had recently rejected a $1.2 billion deal to be bought by a private equity firm.

NanoH2O, Inc. Raises $60.5 Million in Equity and Debt

NanoH2O Inc., which is developing an improved reverse osmosis membrane for seawater desalination, said that it raised a total of $60 million in equity and debt funding.

Molina Healthcare’s Quarter Beats Expectations

Molina Healthcare Inc. said that its first quarter net income rose a better-than-expected 4 percent, largely from expansion of its health insurance business in Texas.

St. Louis Real Estate Brokerage Opens Office Downtown

Commercial real estate investment and services company Cassidy Turley Inc. is opening its first Los Angeles office, and has hired away four brokers from Transwestern’s downtown office to do so.

MannKind Licenses Experimental Drugs to Utah Company

MannKind Corp. announced that it is licensing a portfolio of early-stage experimental drugs to Tolero Pharmaceuticals Inc. in a deal that could be worth more than $130 million.

Expansion No Longer Big Slice of Pizza Chain’s Pie

Analyst sees California Pizza Kitchen trying smaller spaces.

California Pizza Kitchen puts one prototype outpost on its menu as the chain’s expansion pace cools.

Casden Property Battle Hits Home

Lender fight entangles Beverly Hills HQ.

Alan Casden’s’ latest lender dispute could cost the developer his Beverly Hills headquarters.

Summer Heat Could Spur Power Plays by Local Companies

Businesses prepare to offset unplugged San Onofre plant.

The offline San Onofre nuclear plant has sparked concern at local businesses that fear summer power shortages.

Integration, Stock Offering Put Brakes on Parts Firm

Shares of Motorcar Parts tumble as it irons out acquisition.

Motorcar Parts’ stock has been on a rocky road during the company’s integration of a Toronto acquisition.

Damaging Chain Reaction

OPED: Malibu proposal to restrict space for large retailers would prove costly for business owners and consumers.

Robert Cohen sees much pain in store for businesses and consumers if Malibu restricts large retail chains.

Calendar & Events


Super Powered?

Events: L.A. comic book convention Comikaze partners with industry pioneer Stan Lee for second go-round.

Comics convention Comikaze seeks a super boost from its team-up with industry legend Stan Lee.

Pedal Mettle

Bike-sharing firm looks to get in gear without public money

Bike Nation tries to get its cycle-sharing program rolling without public money.

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Developer Tosses Dump Blueprint

LNR scales back mixed-use at closed landfill.

LNR looks to salvage its mixed-use project on a former dump by scaling back retail and residential elements.

Owner Aims Sky High With Pasadena Property

REAL ESTATE: Square-foot price would be highest paid in city since deal in 2009.

The Pasadena office building at 385 E. Colorado Blvd. has been put on the market only weeks after its largest tenant, Western Asset Management Co., renewed its lease.

Supplement Maker’s Sales Appear Up to ‘Challenges’

ViSalus boosts business through goal-setting get-togethers.

Nutritional supplement maker ViSalus takes on rivals with “challenge party” marketing events.

Investors Look to Get Leg Up on Shoemaker Shares

New lines could help Skechers shape up after Shape-ups.

Investors slip into Skechers stock as the shoemaker ramps up new products.

New Century City Firm Works for Labor Attorney

LAW: Seyfarth Shaw’s Ken Sulzer moves to Proskauer Rose office.

Proskauer Rose LLP has landed a big name with the hiring of attorney Ken Sulzer from Seyfarth Shaw LLP.

No Longer Running On Empty?

Limo service’s new app helps fill seats during unreserved LAX trips.

Limo service hopes to rev up business with an app that offers seats on trips back from LAX.

Downtown L.A. Bank Invests in Diverse Pickups

City National buys equipment lease and wealth management firms.

Acquisitive City National branches out with equipment leasing and wealth management pickups.

Lay of Land Undoes British Invasion

Charles Crumpley believes the Fresh & Easy chain’s poor reception here is of historic proportions.

News of the Week

News of the Week

Credit Union Aims to Get Handle on More Members

BANKING & FINANCE: Lockheed hopes new name will help draw customers.

Say goodbye to Lockheed Federal Credit Union and hello to … something else.

Sky’s the Limit for Rooftop Solar Power


Mary Leslie sees the city of L.A. becoming a hot spot for building-top solar panels.

Regional Reports

Regional Reports

Recasting View of Asians at Film Festival


Remember that firsthand parenting book named “Battle Hymn of the Tiger Mother” from the uber-strict, Chinese-American mom that made the rounds last year?

Music To Their Ears

AT&T’s phone service keeps concertgoers dialed in at Coachella.

AT&T tuned up the Coachella concert with Wi-Fi and phone coverage.

Billionaire Shares His Write Stuff

Eli Broad details his unconvential approach in new business book.

In his new book billionaire Eli Broad talks about how being unconventional can pay off.

Friday, April 27

On Assignment Reports Strong Quarter

Shares of On Assignment Inc. gained 8 percent on Friday after the specialty staffing firm said its first quarter profit jumped 54 percent on strong growth in all the industries it serves.

FDA Rejects Amgen's Application for New Xgeva Use

U.S. regulators have rejected an application by Amgen Inc to expand the use of its drug Xgeva to slow the spread of tumors to the bones of patients suffering from advanced prostate cancer.

The Week’s Big Movers

The Business Journal’s index of largest local public companies closed up for a second straight week, with investors responding to positive corporate quarterly reports and economic news.

Thursday, April 26

LAX Passenger Traffic Up 6.5 Percent in Quarter

Los Angeles International Airport is off to a solid start this year, with officials reporting that more passengers and cargo moved through the airport in the first quarter than in the same period a year earlier.

Reliance Steel Cautious in Outlook Despite Strong Quarter

Reliance Steel & Aluminum Co. said its first quarter profit rose 26 percent in the first quarter, but provided guidance for the current quarter that was below Wall Street’s expectations.

Survey: L.A. Businesses More Optimistic, But Hesitant to Hire

A new survey by the Los Angeles County Business Federation finds that local business owners and executives are more optimistic about the economy this year, but concern over higher taxes, fees and government regulation is dampening expansion and hiring.

Rising Production, Prices Boost Oxy’s Quarter

Occidental Petroleum Corp.’s first-quarter net income rose slightly on higher oil prices and record production of oil.

Higher Margins Help Skechers Beat Expectations

Shares of Skechers USA Inc. jumped 14 percent on Thursday, a day after the casual shoemaker said it lost less money than expected in the first quarter and expects to return to profitability in the second half of this year.

Wednesday, April 25

BreitBurn Invests in More Wyoming Oil Properties

BreitBurn Energy Partners L.P. it plans to spend $98 million to acquire oil drilling land in Wyoming.

Amgen to Buy Turkish Pharma Company

Amgen Inc. plans to acquire Turkish generic drug maker Mustafa Nevzat Pharmaceuticals for nearly $700 million cash, in a bid to expand its overseas business.

Teledyne’s Quarter Beats Wall Street Expectations

Teledyne Technologies Inc. said that its first quarter net income rose nearly 12 percent, with international sales contributing more than 40 percent to revenue.

Tuesday, April 24

Amgen’s Quarter Beats Wall Street Forecasts

Amgen Inc.'s first-quarter profit rose 5 percent on higher sales of its two biggest drugs and two new products, easily beating Wall Street forecasts.

Security Sales Boost Strong Quarter for OSI Systems

OSI Systems Inc.'s fiscal third-quarter net income jumped 43 percent as revenue from its large security scanner division rose 27 percent.

Coda to Co-Develop Electric Car with Chinese Automaker

Coda Holdings has signed a contract with China’s Great Wall Motors Company to co-develop an all-electric cars and light trucks for worldwide distribution.

Newegg Names CFO

Electronics e-commerce retailer Newegg Inc. has named Harry Amsden, a former Tribune Co. executive, as its chief financial officer.

Monday, April 23

Jakks Says It Will Talk with Oaktree Capital

Jakks Pacific Inc. said that it has agreed to talk with Oaktree Capital Management Funds about Oaktree’s buyout offer. The toymaker also announced a share buy-back and expansion of its board.

City National to Buy Equipment Finance Company

City National Bank has entered into a definitive agreement to acquire First American Equipment Finance for an undisclosed amount.

Investor Still Game For Toymaker Deal

But Oaktree has harsh words for Jakks board.

Asset management firm Oaktree puts on its game face in pursuit of toymaker Jakks.

Sling, Rigging Maker Hopes to Hang With Students

MANUFACTURING: Lift-It’s new headquarters in Pomona includes classroom.

When Vernon’s Lift-It Manufacturing Co. Inc., a maker of heavy-duty slings and rigging equipment, was looking for a new home, Chief Executive Mike Gelskey Sr. wanted more space for finished goods and manufacturing equipment – but he also wanted a classroom.

Will Christian, Conservative Approach Pay Off?

Salem moves to boost investor interest in stock by adding dividend.

Salem hopes offering a dividend will draw more true believers to its Christian and conservative properties.

Food Maker Chews on Wrong Kind of Salad Days

Dole stock falls after salmonella scare prompts recall.

Salmonella-spurred salad recall bowls over Dole Food stock.

Linking Up

Software maker SocialEngine looks to click with consumers via account and community management services.

Software maker SocialEngine hopes its new online services click with users.

New Ballgame?

Kids’ sports site Weplay scores big-name advertisers

Sports site for kids Weplay fields big-name advertisers to go along with its athletic star investors.

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Body Scanner Maker Sees Medical Devices As Sales Shot in Arm

OSI sees medical devices as healthy additions to its airport and cargo security scanning business.

Married To Retail Website

Founder refused to let divorce pull plug on her RecycledBride. founder committed herself to e-commerce site despite abrupt divorce from husband.

‘Sin’ Is In at Local Store

Furniture-design shop says extreme window display is no vice.

Vintage furniture and interior design store gives in to ‘Sin’ for themed window display contest.

Putting Women In Driver’s Seat

Auto sales data site TrueCar sponsors all-female racing stable.

Auto sales data site TrueCar turns to only women drivers for its racing sponsorships.

Is This a Horror Movie? No, It’s L.A.


Charles Crumpley is afraid that local landlords are in a real horror show.

L.A. Should Sack Paper Bag Ban


Teri Shanahan and Craig Williams hope L.A. City Council folds on a proposed paper bag ban.

Purple Line Must Be on Fast Track


Gary Toebben and Robbie Hunter want the Purple Line to stay on track as a job producer.

Econ 101’s Added Value

OP-ED: Students fluent in financial literacy are less likely to drop out and will gain skills more appealing to employers.

William Coffin explains how financial literacy adds up to the benefit of students.

Port Spins Wheels On Fuel-Cell Truck

Former employee alleges trouble at L.A. contractor.

Port of Los Angeles has yet to catch sight of contractor Vision’s hydrogen fuel cell truck.

Maguire, AEG Think Big Downtown

Office tower would be area’s first in 20 years.

Developer Robert Maguire looks to build on his downtown roots by teaming with AEG on a creative office high-rise.

Skateboarder Sees New Role for Manufacturing

Rob Dyrdek adds skateboard and accessories company to portfolio.

Former pro skateboarder Rob Dyrdek tries on new role with acquisition of skateboard and accessories maker DNA.

Los Angeles County Home Sales March 2012

Sales heated up in March with arrival of the summer home-buying season.

Dallas Firm Rustles Up Downtown L.A. Property

Real Estate: Lincoln’s deal for Wedbush Center valued at $130 million.

Downtown L.A.’s Wedbush Center is about to trade hands.

Ex-Songwriter Hopes to Tune Up Downtown L.A.

Advertising & PR: Steve Baughman to run local operation of digital agency RTG

RTG Ventures, a digital agency based in London, has opened a downtown L.A. office and has hired Steve Baughman, former songwriter for the Pussycat Dolls, 50 Cent, Destiny’s Child and Snoop Dogg, to run the shop.

Audio Tech Company Likes Sound of Expansion

MEDIA & ENTERTAINMENT: DTS picks up SRS Labs as part of mobile market expansion.

With all manner of new ways to watch movies and TV on the go, it seems the only thing holding back mobile entertainment is the tiny speaker affixed to many of the devices.

3-D Equipment Company Puts Focus on Production

3ality sets up fund to pay TV shows to shoot in format.

3ality hopes to take 3-D TV production to a new dimension by helping to pay for shows in the format.

Calendar & Events


News of the Week

News of the Week

Regional Reports

Regional Report

Let's Go Fly a Kite


For the last decade, Shree Kothari has attended the Indian Film Festival of Los Angeles as a way to reconnect with his home country.

Friday, April 20

Head of Disney’s Film Studio Resigns

Rich Ross on Friday quit as chairman of Walt Disney Co's movie studio in the wake of one the studio’s biggest flops.

The Week’s Big Movers

The Business Journal’s index of largest local public companies closed up for the week, as the markets reacted to positive earnings reports.

L.A. County’s Jobless Rate Still 11.8 Percent

Los Angeles County’s unemployment rate in March remained stuck for the third straight month at 11.8 percent, according to state figures.

Thursday, April 19

City National’s Quarter Beats Expectations

City National Corp.’s first quarter profit rose more than 16 percent as the county’s largest local bank benefited from improved credit quality.

Survey Shows Need to Improve U.S.-China Trust, Cooperation

A new survey of American and Chinese business and opinion leaders suggests that despite growing mistrust, citizens from both nations acknowledge the need for improved political and business cooperation.

Hanmi Profit Falls in Quarter

Hanmi Financial Corp.'s first quarter profit fell as the bank holding company generated lower revenue and set aside more money to cover bad loans.

Wednesday, April 18

Private Equity Shareholder Repeats Offer for Jakks

A private equity shareholder warned that it may launch a battle to replace the board of toymaker Jakks Pacific Inc., which on Wednesday reported a wider first-quarter loss that wasn’t as bad as analysts were expecting.

THQ Shares Jump on Earnings Pre-Release

Shares of THQ Inc. soared more than 35 percent Wednesday morning after the struggling video game developer said it expects to report a smaller-than-expected loss for its fourth quarter.

Tuesday, April 17

Cathay General Sees Strong Growth in Quarter

Cathay General Bancorp said its net income jumped 38 percent in the first quarter, largely due to higher interest income.

Quarterly Profit Rises at East West Bancorp

East West Bancorp Inc.'s first quarter net income jumped 22 percent as the county’s second largest local bank grew both its loan and deposit portfolios.

Puma Biotechnology to Begin Trading Shares

Puma Biotechnology Inc., the cancer drug developer founded by former Cougar Biotechnology Chief Executive Alan Auerbach, said it will begin trading shares on the OTC Bulletin Board on Wednesday.

DTS to Obtain Audio Patents Through Acquisition

DTS Inc. plans to buy SRS Labs Inc. in a cash-and-stock deal valued at $148 million. The deal enables the audio technology company to expand its portfolio of patents and trademarks.

Monday, April 16

Walmart to Open 'Neighborhood Market' in Panorama City

Walmart announced plans to open a Walmart Neighborhood Market in Panorama City, the second one of its type in Los Angeles County.

Molina Healthcare Appeals Exclusion from Ohio’s Medicare Program

Molina Healthcare Inc. said that its Ohio health plan has filed a formal protest of its exclusion from Ohio's Medicaid managed care program.

Acquisition Costs, Lower Sales Hurt Mattel’s Quarter

Shares of Mattel Inc. fell 9 percent Monday morning after the toymaker said that its first-quarter earnings fell 53 percent, largely due to acquisition costs and lower sales for Barbie and Hot Wheels products.

Dole Recalls Bagged Salads Over Salmonella Concern

Dole Food Co. said its fresh vegetables division has recalled 756 cases of bagged salad because they could be contaminated with salmonella.

Managed Care Provider Gets Buckeye Black Eye

Molina shares tumble after loss of Ohio Medicaid contract.

Managed care provider Molina’s stock tumbles after losing contract for Ohio’s Medicaid program.

DOWNTOWN L.A.: Airline Scales Back Twin-Tower Plan as Vacancies Remain Sky High


Main events in Los Angeles County commercial and industrial submarkets in the fourth quarter.

WESTSIDE: Silicon Beach Shores Up Rents For L.A. Leader Santa Monica


Main events in Los Angeles County commercial and industrial submarkets in the fourth quarter.

HOLLYWOOD: Smaller Firms in Rush for Space Impact Submarket in a Big Way


Main events in Los Angeles County commercial and industrial submarkets in the fourth quarter.

WILSHIRE CORRIDOR: Miracle Mile Thrives as Wilshire Center, Park Mile Give Back Space


Main events in Los Angeles County commercial and industrial submarkets in the fourth quarter.

TRI-CITIES: Glendale’s Boon Proves Bane to Tenant-Shedding Sister City Pasadena


Main events in Los Angeles County commercial and industrial submarkets in the fourth quarter.

SAN FERNANDO VALLEY: Vacancy Rates Fall Across Valley as Landlords Drop Asking Rents


Main events in Los Angeles County commercial and industrial submarkets in the fourth quarter.

SAN GABRIEL VALLEY: Asian-Owned Firms Fuel Demand for Dwindling Warehouse Space


Main events in Los Angeles County commercial and industrial submarkets in the fourth quarter.

SANTA CLARITA VALLEY: Cruise Line’s Impending Exodus Could Capsize Area’s Comeback


Main events in Los Angeles County commercial and industrial submarkets in the fourth quarter.

SOUTH BAY: Tight Submarket Has Businesses Open to Construction Projects


Main events in Los Angeles County commercial and industrial submarkets in the fourth quarter.

Gas Price Drives Off Subsidy Talk


Charles Crumpley is happy to see prices – not subsidies – driving company decisions to buy natural gas-fueled trucks.

Moving the Needle

OPED: Recent investment in clothing maker American Apparel just another sign of U.S. manufacturing’s resurgence.

Bruce Dobb sees downtown L.A. fashioning a comeback with apparel companies.

Breaking Up Is Hard to Do


Pulling the plug on bad business relationships has grown easier for Scott Harris.

Beauty School Chain Puts Down Roots Across U.S.

Marinello’s business model makeover focuses on acquisitions.

Beauty school chain Marinello hopes to move to the head of the class with aggressive acquisition strategy.

Regional Reports

Regional Reports

News of the Week

News of the Week

Calendar & Events


Light Rail Trains Carry Development in Pasadena


Mixed-use near Pasadena station may point the way for other transportation-oriented development.

L.A. COUNTY: Economic Gains Propel County Into Positive Territory to Start Year


Main events in Los Angeles County commercial and industrial submarkets in the fourth quarter.

Gold Mine Line?


Cities and developers are pulling out all stops to locate projects near stations along Metro’s Gold Line extension.

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California Chamber Turns Guns on ‘Job-Killer’ Bills

Measures on sales taxes, property liens draw particular fire.

Proposed laws on sales taxes and property liens top list of “job-killer” measures targeted for extermination by California Chamber of Commerce.

Teamsters Pull Into Port With San Pedro Truckers

TRADE & TRANSPORT: Unionization of Toll drivers is first success in 30 years for labor.

Drivers at San Pedro harbor trucking company Toll Group Inc. voted last week to join the Teamsters, the first time the union has successfully organized port truckers in the past three decades.

Phones Look Like Good Call for Accessories Maker

Belkin moves into mobile as way to re-energize growth.

Computer products maker Belkin International dials into accessories for mobile devices.

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L.A. Forges Healthier Bonds With Biomed Industry

Firms no longer leaving area after being acquired by larger rivals.

L.A. is seeing healthy returns from biomed companies that no longer depart after being acquired.

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Doctoring Scrubs’ Image

Makers of form-fitting medical apparel inject some skin into ads.

Maker of scrubs for health care workers looks to nurse image with line of form-fitting uniforms.

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Pot Site Looks to Build Buzz places emphasis on links to alternative health care.

Owner of is still high on the potential of URL address he bought in 2005.

A Wealth of Lost and Found


Laurence and Sally Martin of El Segundo gave up careers in aerospace and cable television, respectively, to run an antique shop.

Blowout Fallout?

Crackdown may level hair-straightener playing field

Sales are heading up for Zerran’s hair straightener as rival GIB copes with Brazilian Blowout fallout.

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Grace Period Over for Cash-Strapped L.A. Churches

Bank foreclosures on track for record high in county.

Banks are foreclosing in record numbers on financially struggling L.A. churches.

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Beverly Hills Cap Protested

Landlord challenges medical zoning.

Beverly Hills landlord sues city after losing patience with cap on medical office space.

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Film Company Lines Up Day-and-Date Launches

Media and Entertainment: Gravitas gets behind simultaneous at-home, in-theater debuts.

Growing up in Cleveland, Nolan Gallagher’s chances of seeing first-run independent films were slim, since many indie distributors opted for limited releases in New York and Los Angeles.

Firm Reorganizes, Names Chief Financial Officer

Banking & Finance: SunAmerica network changes designed to streamline business.

SunAmerica Financial Group Inc., a life insurance and retirement services company headquartered in Woodland Hills, announced a series of moves last week designed to streamline its business and bolster management.

Outside Influence

SearchMedia heads abroad to tap China’s growing outdoors market.

SearchMedia believes it has found solid growing markets for its outdoors business: smaller cities in China.

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LAX Gets Sandwiched

Downtown’s Cole’s French dips toe into serving air travelers.

Centenarian sandwich server Cole’s has landed a spot at LAX for its famed French dip.

Sunday, April 15

Bankruptcy Judge OKs Dodgers Sale

U.S. Bankruptcy Judge Kevin Gross of Delaware has given his approval to the Los Angeles Dodgers' plan to sell the team to Magic Johnson’s group for $2 billion.

Friday, April 13

Long Beach Port Sees Stronger Activity

After a slowdown last year and shrinking cargo numbers over the past several months, the Port of Long Beach reported solid numbers for March, with big gains in imports and exports.

Private Equity Firm Acquires Friendgiftr

Friendgiftr, the Los Angeles online service that allows users to send gift cards to friends and family, has been acquired by an Alaskan private equity firm.

The Week’s Big Movers

The Business Journal’s index of largest local public companies closed down for the week, as the markets reacted to disappointing China growth data and other economic concerns.

OpenGate Capital Buys French Consumer Publication

Los Angeles private equity firm OpenGate Capital has acquired French consumer magazine “Réponse à Tout!” from Paris publisher Groupe Ayache.

Thursday, April 12

Oaktree Shares Have Rough Debut

Shares of Oaktree Capital Group LLC fell on their first day of trading Thursday after the company’s initial public offering raised less than expected.

State High Court Overturns Work-Break Rule

In a major victory for California employers, the state Supreme Court on Thursday ruled that employers are not obligated to ensure that workers stop work during required meal and rest periods.

New Enterprize Zone Approved

The state gave final approval for a new enterprise zone for business tax credits in Los Angeles County.

Los Angeles Port Traffic Ramps Up

Traffic at the Port of Los Angeles surged in March as factories in China resumed production after an early lunar New Year slowed activity in February.

Wednesday, April 11

L.A.’s Apartment Market in Recovery

Apartment rents in Los Angeles are projected to increase moderately in the next two years even as vacancies rise, according to a new report by USC’s Lusk Center for Real Estate.

Tuesday, April 10

State Chamber Cites 'Job-Killer' Bills

The California Chamber of Commerce launched a campaign to defeat 23 bills in the state Legislature it has identified as “job killers” that would harm employers.

Bank of Santa Clarita Announces Departure of CEO

Bank of Santa Clarita announced that James D. Hicken’s service as the bank’s president and chief executive has ended.

Amgen to Buy Developer of Promising Kidney Drug

Amgen Inc. has signed an agreement to buy privately-held drug maker KAI Pharmaceuticals for $315 million in cash. KAI is developing an experimental treatment for a painful symptom of chronic kidney disease.

Monday, April 9

Hana Won't Buy Majority Stake in Saehan

Just two months after Saehan Bancorp agreed to sell a majority stake to a South Korean financial firm, the two sides have called off the deal.

L.A. Development Project Reforms Signed into Law

Los Angeles Mayor Antonio Villaraigosa signed into law an ordinance that simplifies the city’s review of development projects.

New CEO at Kinecta Federal Credit Union

Following the cancellation of a previously planned merger, Kinecta Federal Credit Union has appointed a new chief executive.

HemaCare Files to Delist Stock

HemaCare Corp. has filed with the U.S. Securities and Exchange Commission to voluntarily deregister its common stock, citing the costs of remaining a public company.

UCLA Expansion Fails to Make Grade With Regents

Board seeks more details on plan for hotel-conference center.

UC Board of Regents want to learn more from UCLA on plan for hotel and conference center.

Bank Vaults to Smaller Space in Downtown L.A.

REAL ESTATE: Cathay United to move into Aon Center in deal valued at $3 million.

Cathay United Bank Ltd. has reduced the size of its American headquarters and moved it a few blocks.

Calendar & Events


News of the Week

News of the Week

Firm Has Strong Feelings About Good Commercials

ADVERTISING & PR: BrainJuicer says emotionally based campaigns most effective.

Ad professionals attended the BrainJuicer Invention Fest recently to learn the answer.

Keeper of the Einstein Rights

Page 3

When attorney Steven E. Bledsoe was growing up, he generally got good grades but he was no science whiz.

Regional Reports

Regional Report

Failed Credit Union May Trip Bid to Lift Business Loan Cap

Collapse of Telesis could undercut other credit unions’ push to raise cap on business loans.

If Cochran Partners Don’t Fit, They Might Just Split

Gloves come off in fight over L.A. office of late O.J. lawyer.

Feuding partners take off gloves in fight to control L.A. firm founded by the late Johnnie Cochran.

Organized Resistance?

West Hollywood hotel says union spurns deal in order to aid labor drives.

Andaz West Hollywood says union has checked out of contract negotiations in order to promote organizing efforts elsewhere.

Fuel Boom?

Low-cost natural gas ignites trucker demand

Local companies say low cost could fuel a boom in natural gas vehicles.

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Cigar Sellers Fired Up Over State Tax

Ballot proposal to hike tobacco levies could snuff sales.

Cigar vendors fear sales will be snuffed out by a ballot proposal aimed at hiking tobacco taxes.

Electro Rent May Switch Back Amid Defense Cuts

But shares of testing company fall in transition period.

Sales slip zaps shares of Electro Rent, a provider of electronic measuring and testing equipment.

L.A. Port Plugs Back Into Electric-Truck Maker

Balqon lost business in 2010 due to battery-life problems.

Balqon is back in driver’s seat as electric-truck maker gets third shot at fulfilling L.A. port contract.

Black Television Pioneer Likes His View of Image

ENTERTAINMENT: Local distributor acquired by Bob Johnson in roll-up.

Black-TV pioneer looks to distributor Image to bolster his online streaming business.

Jeans Maker Fashions a Comeback on Nasdaq

RETAIL & APPAREL: Joe’s CEO trumpets quartet of moves for company’s resurgence.

How did Joe’s Jeans Inc. meet Nasdaq’s requirement that the company’s stock trade higher than $1 for at least 10 consecutive days?

Hollywood Festival Looks to Build Passage to India

MEDIA & ENTERTAINMENT: Event designed to help investors cash in on popularity of Bollywood.

With the Indian Film Festival of Los Angeles kicking off on Tuesday, Hollywood executives will get a peek at output from one of the world’s fastest growing movie markets.

Plugged Into Rock History

Whisky a Go Go’s pink neon sign pulls in $35,000 at auction.

Neon sign from Whisky a Go Go’s heavy metal heyday brings in hair-raising $35,000.

Storefront Dead Ahead

Death-focused tour Dearly Departed puts down Hollywood roots.

Operators of death-focused tour Dearly Departed were dead set on opening Hollywood storefront.

Little Too Close For Comfort

Hotel won’t make room for nearby rival’s use of Four Seasons brand.

L.A. hotel has reservations about sharing Four Seasons brand with Beverly Hills neighbor.

Applying Some Heat

OPED: L.A. Fire Department’s response time problems undercut confidence businesses need to operate.

Mayoral candidate Austin Beutner says city of L.A.’s inefficient Fire Department needs to blaze a new trail.

Are We in the Sue-age?


Charles Crumpley says California courts trouble by letting silly lawsuits shake down businesses.

Proposition 13 Opponents Home In on Business


Joel Fox warns splitting off businesses from Proposition 13 protections will separate workers from jobs.

Firm Locked In on Freeing U.S. Citizens Overseas

David House success stories include work done for Amanda Knox.

David House Agency specializes in freeing U.S. citizens imprisoned abroad, such as Amanda Knox.

Friday, April 6

NFL Extends Ticket Resale Agreement with Ticketmaster

The National Football League has signed a five-year contract extension with Live Nation Entertainment Inc.’s Ticketmaster division for NFL Ticket Exchange.

The Week’s Big Movers

The Business Journal’s index of largest local public companies closed down for the week, as the markets reacted to disappointing jobs and other economic data.

Thursday, April 5

Live Nation Buys Australian Event Promoter

Live Nation Entertainment Inc. has acquired Michael Coppel Presents, considered one of the leading concert promoters in Australia and New Zealand.

Green Dot Completes Mobile Technology Acquisition

Green Dot Corp. has completed its acquisition of Loopt, a Mountain View mobile social networking developer, for $43 million cash. It is Green Dot’s biggest purchase.

Wednesday, April 4

Shares of TCP Capital Fall Following IPO

Shares of TCP Capital Corp. closed down slightly on Wednesday following the business development company's nearly $85 million initial public offering.

Reliance Steel Makes Texas Acquisition

Reliance Steel & Aluminum Co. has expanded its processed metals offerings with the acquisition of National Specialty Alloys LLC for an undisclosed amount.

DWP Establishes Solar Power Buy-Back Program for Building Owners

In a boost to the local solar power industry, commercial property owners in Los Angeles will soon be able to sell solar power generated from their buildings back to the Los Angeles Department of Water & Power.

Tuesday, April 3

L.A. Sees Drop in Filming Activity

On-location production days fell 2.1 percent in parts of Los Angeles during the first quarter of 2012, due to a large decrease in locally shot television, according to FilmL.A. Inc.

Lifestyle Company Buys Vivendi Entertainment

Gaiam Inc. has closed its $13.4 million acquisition of Universal Music Distribution Corp.’s Vivendi Entertainment.

Expected Defense Budget Cuts Hurt Electro Rent’s Quarter

Electro Rent Corp. said its fiscal third quarter profit fell slightly as defense and aerospace industry customers delayed buying its specialty electronic test and measurement equipment.

Head of ValueClick Acquisition Becomes COO

ValueClick Inc. said that division head John Giuliani has been promoted to the new position of chief operating officer, effective immediately.

Jacobs Wins Military Consulting Contract

Jacobs Engineering Group Inc. said it was chosen to provide systems engineering and technical assistance for the U.S. Army's Program Executive Office.

Monday, April 2

BET Founder to Buy Image Entertainment

Black Entertainment Television founder Robert Johnson announced plans to acquire Chatsworth film distribution company Image Entertainment Inc.

Amgen to Partner with AstraZeneca on Inflammatory Drugs

Amgen Inc. and AstraZeneca Plc said that they will jointly develop and sell five experimental, antibody-based drugs from Amgen's inflammation portfolio.

Former Carroll Shelby HQ Sold in Marina del Rey

The former Marina del Rey office of legendary automobile designer Carroll Shelby has been sold along with two other office buildings for $6.5 million.

MRV Communications Appoints CFO

MRV Communications Inc. has appointed Stephen Garcia as chief financial officer and Beth Arnold as vice president of finance.

Big Builder Not So Big Now


Charles Crumpley is worried because KB Home, as a company, suddenly appears a bit rickety.

Digital Radio Dials Into Vintage TV

CRN taps actors from past shows to host slate of talk fests.

CRN channels nostalgia with talk shows hosted by stars from old TV programs.

Star Power Wanted

Can Pamela Anderson jump-start classifieds website FrogAds?

Classified site FrogAds hopes to get a jump on rivals with brand ambassador Pamela Anderson.

Fitness DVDs Flex Muscle

Exercise discs strong sellers despite overall decline for format.

Exercise discs still weigh in as hefty sellers in a fading format.

Promoting Business in Long Beach

OPED: Chief of chamber of commerce endorses candidates for the 4th and 8th City Council districts.

Long Beach chamber CEO Randy Gordon endorses business-friendly candidates for City Council.

Driver’s Seat

Racing enthusiast Jim Michaelian rode out a rough start at the Long Beach Grand Prix before racing to victory.

Lifelong racing enthusiast Jim Michaelian’s need for a nonsedentary job drove him to launch the Long Beach Grand Prix.

Private Meeting, Public Setting


Westfield Group Chief Executive Peter Lowy was hoping to get a little one-on-one meeting with Los Angeles Mayor Antonio Villaraigosa at the American Diabetes Association’s annual Los Angeles Political Roast fundraiser.

Investment Firm Gets Jump on Office Renewal

REAL ESTATE: Western Asset’s deal for 180,000 square feet is L.A.’s largest this year.

In the largest lease deal in Los Angeles County so far this year, Western Asset Management Co. has decided to stay at its downtown Pasadena headquarters.

Calendar & Events


News of the Week

News of the Week

Downtown L.A. Firm Branches Out to Middle East

BANKING & FINANCE: TCW to manage trio of funds with Saudi Arabia’s NCB.

One of L.A.’s largest asset managers is looking to open up the U.S. equities market to the Middle East through a new partnership with a top Saudi Arabian investment firm.

Metals Company Might Be Reforging Growth Plan

MANUFACTURING: Reliance pickup could herald return to acquisitive strategy.

One Tennessee processing plant gobbled up by Reliance Steel & Aluminum Co. – a company worth $4 billion – might not be noteworthy on its own.

Golf Business Takes Swing at Tennis

TGA sees net gain in expanding P.E. camps for kids.

Operator of golfing academies for kids hopes to make racket with after-school tennis camps.

Binding Chains?

Malibu mulls space limits for national retailers

Malibu activists are looking to bind large retail chains with space limits.

Tease photo

Seeking Growth

Addiction treatment center tries PR push after lower-price service fails.

Low-cost approach failed to pay off for high-end addiction treatment center Cliffside Malibu.

Maker of Medical Testing Devices Gets High Marks

Analysts rate shares of Iris a ‘buy’ after rise in revenue and profit.

Medical device maker Iris’ healthy quarter has opened eyes wide on Wall Street.

Electronic Exchange’s Canceled IPO Zaps Investor

Wedbush could lose millions as Bats backs off public plans.

The Wedbush firm shares the pain from electronic exchange Bats’ aborted IPO.

Regional Reports

Regional Reports

Japanese Bidder Gets Inside Track

Metro defends rail car pick as rivals rage.

Metro officials say they are on the right track in awarding rail-car contract to a Japanese company.

TV Producer Changes Channel with Online Network

MEDIA & ENTERTAINMENT: YouTube outlet Everyday Health gets Google investment.

This Tuesday a new network called Everyday Health TV will unveil its lineup of six shows.

Giant Mall Seen Coming Up Short

Critics want Del Amo to think big on renovation plan.

City officials and analysts aren’t buying co-owner’s renovation plans for Del Amo Fashion Center.

Imaging System Looks Good In Funding Round

ImaginAb’s cancer-detection process rounds up $12.5 million.

ImaginAb has scored outside financing for its technology that looks inside human bodies for cancer.

Firm Forms for Mid-Range Litigation Business

LAW: Hobart Linzer to specialize in cases worth less than $100 million.

Big law firms are churning out record profits and revenues, and acquiring smaller firms at an accelerating rate. But many still believe the downturn has opened opportunities for boutique firms, especially in middle-market Los Angeles.

Healthier Economy, Clients Contribute to Agency Adds

Firms grow staff as work picks up for industries such as auto.

Rebounding economy and revved-up auto clients are driving staff growth at local ad agencies.

Nursing Facility Investor Taking Care to Diversify

LTC looks to back off services reliant on government payment.

Investment trust LTC can’t seem to check out of government payment-supported nursing facilities.

Contractors May Face Fight-or-Flight Time at LAX

Major union tries to force city crackdown on airport companies.

Two LAX contractors say major union is plain wrong about propriety of their decertification votes.

Dodgers’ Sale Price a Whole New Ballpark Figure


Robert Landry writes how Dodger Stadium parking raised a lot of concern for the team’s sale.