Stories for December 2013

Tuesday, December 31

Daily Journal Misses Another Filing Date

Daily Journal Corp., the downtown L.A. publisher of legal newspapers and websites, on Tuesday said it had again missed its deadline for making a required annual filing with the U.S. Securities and Exchange Commission.

Signature Group Votes Reincorporate in Delaware

Signature Group Holdings Inc. said its shareholders have approved a proposal to reincorporate in the state of Delaware, the latest effort to reinvigorate the Sherman Oaks holding company.

Puma, Arrowhead Among Year’s Biggest Movers

The Los Angeles Business Journal’s index of largest local public companies rose 34 percent over the past year, in line with gains in the wider markets.

Stocks Gain

In Tuesday trading, the Dow Jones industrial average closed up 72 points to 16,577. The Nasdaq rose 22 points to 4,177. The S&P 500 rose 7 points to 1,848. The LABJ Stock Index rose less than 1 point to 181.

California Loses Bid for Federal Drone Testing Sites

Although California is home to some of the nation's biggest drone manufacturers, the state was passed over Monday when the federal government picked six sites across the nation for testing the use of robotic aircraft inairspace, the Los Angeles Times reports.

Housing, Confidence Gain as Economy Improves

Home prices in most cities are increasing more slowly than earlier in the year, and consumer confidence is rising, according to data released Tuesday, dual signs that expectations of a stronger economy in 2014 are taking root, USA Today reports.

Motion Picture Television Fund Workers Approve New Deal

More than 500 union staff members at the Motion Picture & Television Fund, represented by the Service Employees International Union-United Health Care Workers, have signed off on a new three-year contract, the Wrap reports.

'Iron Man' Led Record Year at Box Office

Tony Stark did more than save the world in “Iron Man 3.” He helped deliver a record summer in theaters and carry Hollywood to a new high for all of 2013, Bloomberg News reports. U.S. and Canadian cinemas are expected to pass last year’s record $10.8 billion in ticket sales by about 1 percent.

Expiring Tax Credit Sets Off Hollywood Scramble

This month's scheduled expiration of a federal credit for production costs that the Treasury says will cost about $430 million over 2013 and 2014 — set off a scramble to get cameras rolling, the Los Angeles Times reports.

World Shares Seen Gaining More in 2014

World stocks were ending 2013 close to six-year peaks on Tuesday and benchmark bond yields were poised for their first annual rise since 2009 as investors anticipated a further pick-up in global growth, Reuters reports. The Wall Street Journal says the smart way to play the markets this year seems to have been to follow the dumb money.

Gold Set for Biggest Annual Loss in Three Decades

Gold slid more than 1 percent in early trading Tuesday, on course for its biggest annual decline in 32 years as prospects for global economic recovery prompted investors to switch to riskier assets, Reuters reports.

Crackdown Has Some Calabasas Homeowners Crying Foul

Owners of older homes in affluent Calabasas say a crackdown on septic systems and other code issues targets them unfairly, the Los Angeles Times reports.

Fuel-Saving 'Stop-Start' Technology to Become Norm

Originally developed for use in hybrid vehicles, stop-start technology — which automatically shuts off a vehicle's engine rather than wasting gas idling at a light or in a fast food line — is rapidly being rolled out on everything from mini-cars to high-performance luxury vehicles, CNBC reports.

Content, Good Pricing Drove Media Deals This Year

U.S. media and entertainment companies completed $75.8 billion worth of acquisitions and mergers this year, a 47 percent increase from last year, USA Today reports.

Cable Holding Its Own

Viewers spent a record 17.2 hours a week watching ad-supported cable networks in 2013, rebounding from a slight dip last year, while the big four networks claimed a combined 7.5 hours, another low, USA Today reports.

Credit Score, By Multiple Choice

Where credit scores are rare, banks are using a psychometric test developed at Harvard to help lend to small-business owners, the New York Times reports.

American-Style Start-Ups Take Root in India

American tech entrepreneurs are importing the Silicon Valley mind-set to India, a nation with a reputation as a tough place to do business, the New York Times reports.

Tour Operators Say Fans Aren't Game for Sochi

Even before the terror attacks in Volgograd, sports fans' concerns about price, logistics, lack of quality lodging and Russia's antigay law have left demand for the 2014 Olympics in Sochi far below other recent Winter Games, the Wall Street Journal reports.

Stocks Rise

In Tuesday morning trading, the Dow Jones industrial average was up 58 points to 16,562. The Nasdaq rose 23 points to 4,177. The S&P 500 rose 7 points to 1,849.

Monday, December 30

BreitBurn Buys Texas Oil, Gas Properties

BreitBurn Energy Partners on Monday said that it has completed the acquisition of interests in oil and natural gas properties in the Texas Permian Basin from CrownRock of Midland, Texas for about $282 million.

IHOP Enters Saudi Arabian Market

DineEquity Inc. on Monday said that it has opened its first IHOP restaurant in Saudi Arabia.

Americas United Bank to Add Lancaster Branch

Glendale's Americas United Bank said it plans to purchase the deposits and branch office of Silvergate Bank in Lancaster.

Dow, LABJ Rise; S&P, Nasdaq Fall

In Monday trading, the Dow Jones industrial average closed up 26 points to 16,504. The Nasdaq fell 2 points to 4,154. The S&P 500 fell less than 1 point to 1,841. The LABJ Stock Index rose 1 point to 181.

L.A., Santa Monica Buildings May Sit on Faults

The cities of Los Angeles and Santa Monica in the last decade have approved more than a dozen construction projects on or near two well-known faults without requiring seismic studies to determine if the buildings could be destroyed in an earthquake, according to a Los Angeles Times analysis

Wells Fargo to Pay $591 Million to Fannie Mae

Wells Fargo & Co. said Monday that it has agreed to pay $591 million to settle disputes over soured mortgages the bank sold to Fannie Mae during the subprime housing boom, says the Los Angeles Times. The Times also reports that a recent Times investigation into the intense sales culture at Wells Fargo has drawn strong reaction from the bank's customers and employees.

French President Gets Approval for 75 Percent Tax

French President Francois Hollande received approval from the country’s constitutional court to proceed with his plan to tax salaries above 1 million euros at 75 percent for this year and next, Bloomberg News reports.

Dean: Health Care Mandate Wasn't Needed

The unpopular individual mandate that's part of Obamacare was unnecessary to the program's overall success, and it's going to hurt Democrats in next year's midterm elections, former Democratic National Committee Chairman Howard Dean tells CNBC.

Molina Seeks Bigger Share of Covered California Enrollment

Molina Healthcare Inc. is looking for increased enrollment in California's health insurance exchange in the next three months, the Los Angeles Times reports.

Sign-ups on U.S. Health Exchange Top 1.1 Million

More than 1.1 million Americans signed up for an insurance plan through the federal health-care marketplace during its initial enrollment period, with more than 975,000 enrolling in December alone, the Washington Post reports.

Real-Life 'Wolf' Shops Reality TV Show

The real-life inspiration for the hard-partying financial swindler played by Leonardo DiCaprio in "Wolf of Wall Street" could be TV’s next reality star, the Hollywood Reporter says. Jordan Belfort now works as a motivational speaker based out of Manhattan Beach.

Signed Contracts to Buy Homes Level Off

The number of Americans who signed contracts to buy existing homes in November was essentially unchanged from October, suggesting sales are stabilizing after several months of declines, the Associated Press reports.

U.S. Struggles to Keep Pace in Broadband Delivery

The United States, the country that invented the Internet, is falling dangerously behind in offering high-speed, affordable broadband service to businesses and consumers, the New York Times reports.

Federal Stance on Tribal Casinos Touches Off Fight

Obama administration policies stimulating an expansion of tribal gambling have touched off new battles over proposed tribal casinos in California and elsewhere, the Los Angeles Times reports.

Texas Billionaire Harold Simmons Dies at 82

Billionaire Harold Simmons, one of the richest men in America and a major contributor to the Republican Party, has died in his native Texas at 82, Reuters reports.

Credit China Is Part of a New Breed of Loan Sharks

So-called shadow bankers have stepped in to lend to debt-hungry businesses and households as the Chinese government tries to rein in traditional banks, the Wall Street Journal reports.

Call for Plus-size Barbie Sparks Debate

A controversy is brewing over a request to remake Barbie in way contrary to the iconic image so many girls knew growing up, BizPac Review reports.

Dow Rises, S&P and Nasdaq Fall

In Monday morning trading, the Dow Jones industrial average was up 18 points to 16,496. The Nasdaq fell 3 points to 4,154. The S&P 500 fell less than 1 point to 1,841.

Friday, December 27

Global Eagle Raises $183 Million in Stock Offering

Global Eagle Entertainment Inc. said that it netted more than $183 million from its most recent public stock offering,

Geragos Attorney Named to Superior Court

Gov. Jerry Brown on Friday appointed local class action attorney Shelley Kaufman as a judge on the Los Angeles County Superior Court to fill a vacancy created by a retiring judge.

ImmunoCellular Among Week’s Biggest Movers

The Los Angeles Business Journal’s index of largest local public companies closed up for the week.

Markets Decline

In Friday trading, the Dow Jones industrial average closed down 1 point to 16,478. The Nasdaq fell 11 points to 4,157. The S&P 500 fell less than 1 point to 1,841. The LABJ Stock Index rose less than 1 point to 180.

A Bid for Bigger Government in California

A proposed ballot measure seeks to make California's government more responsive and less beholden to special interests by increasing the number of elected representatives nearly one hundredfold, the Wall Street Journal reports.

California Gun Shoppers Stock Up Before Registry Launches

A new California gun law that takes effect Jan.1 has customers stocking up on long guns, CBS 13 in Sacramento reports.

BofA's Countrywide Legal Costs Mount

A federal judge will soon decide how much Bank of America should pay for some of Countrywide Financial Corp.'s sins in the lead-up to the financial crisis, the Los Angeles Times reports.

Bottleneck Behind UPS's Christmas Eve Snafu

A UPS hub in Louisville, Ky., was the crunch point for the surge in orders that failed to make it on time for Christmas, the Wall Street Journal reports.

Delta to Honor Super-low Fares Caused by Web Glitch

Thanks to a technical error, some consumers on Thursday were able to land round-trip tickets on Delta Air Lines for under $50, which the carrier said it will honor, CNBC reports.

Obama Signs Bipartisan Budget Deal

President Barack Obama on Thursday signed a compromise budget that reduces the risk of another government shutdown for at least two years, Reuters reports.

Some Hospice Firms Drain Billions from Medicare

Medicare rules have encouraged for-profit hospice companies to seek out healthier patients who are more profitable because they require fewer visits and stay enrolled longer, the Washington Post reports.

Hollywood Struggles Against New Film Meccas

Fueled by politicians doling out generous tax breaks, filmmaking talent is migrating to where the money is. The result is an incentives arms race that pits California against governments around the world, the Associated Press says in a special report.

America's Favorite Tax Haven: South Dakota?

Among the nation’s billionaires, one of the most sought-after pieces of real estate now is a quiet storefront in Sioux Falls, South Dakota, where little more than renting an address is required to take advantage of the state's tax-friendly trust laws, Bloomberg News reports.

McDonald's Pulls Plug on Employee Advice Website

McDonald's Corp. has pulled the plug on "McResource," an informational and budget-assistance website for employees that became a target of derision by a group seeking higher pay for hourly workers, the Wall Street Journal reports.

Windows XP About to Become a Hacker’s Dream

Computers running Windows XP are about to become a ticking time bomb, with the end of Microsoft support for the aging operating system next April, experts tell PC Pro.

King of PCs Has Smartphone Ambitions in U.S.

PC giant Lenovo, also the second-largest smartphone brand in China, now wants to push into the United States and other wealthy markets next year, the New York Times reports.

The Real Wolf of Wall Street

Time sorts out what's fact and what's fiction in Martin Scorsese's glitzy new film about a real-life scammer.

Markets Slip

In Friday morning trading, the Dow Jones industrial average was down 2 points to 16,478. The Nasdaq fell 6 points to 4,161. The S&P 500 fell less than 1 point to 1,841.

Thursday, December 26

Obit: Hollywood Publicist Julian Myers, 95

Noted Hollywood publicist Julian Myers, who represented stars such as Marilyn Monroe and Judy Garland, has passed away. He was 95.

TPG to Acquire of Owner of Gelson’s Markets

Gelson’s Markets parent Arden Group Inc. has announced it will be acquired by investment firm TPG in a deal valued at $394 million.

Iger's Compensation Slides 15 Percent

The annual compensation package for Walt Disney Co. Chief Executive Robert Iger dropped 15 percent in the last fiscal year, the company said in a regulatory filing this week.

CBRE Completes Acquisition of U.K Firm

CBRE Group Inc. has completed its acquisition of Norland Managed Services, which provides technical engineering services for commercial buildings in the United Kingdom and Ireland.

PS Business Parks Buys Bay Area Complex

Glendale's PS Business Parks Inc. has acquired the Bayshore Corporate Center in San Mateo for $60.5 million.

Markets Gain

In Thursday trading, the Dow Jones industrial average closed up 122 points to 16,480. The Nasdaq rose 12 points to 4,167. The S&P 500 rose 9 points to 1,842. The LABJ Stock Index rose more than 1 point to 180.

Buying Surge on Web Blindsided UPS, Retailers

A late surge in online shopping this holiday season left stores breaking promises to deliver packages by Christmas, the Wall Street Journal reports, suggesting that retailers and shipping companies still haven't fully figured out consumers' buying patterns in the Internet era.

Transit Officials Plan to Put Tax Measure on Ballot

Los Angeles County Transportation officials plan to put on the ballot a measure that either would raise the county's sales tax by half a cent or extend the life of Measure R, the levy voters approved in 2008, the Los Angeles Times reports.

Dealership Plans $10 Million Expansion

North Hollywood Toyota, known for its eye-catching mannequins along the 134 Freeway for more than two decades, is getting a $10 million makeover that includes a unique pedestrian bridge, the Los Angeles Daily News reports.

DWP Moves Ahead with Owens Valley Solar Plant

Over the objections of critics, the Los Angeles Department of Water and Power is moving ahead with plans to build a $680-million 200-megawatt solar energy plant within view of this desolate Eastern Sierra site that was a Japanese American internment camp during World War II, the Los Angeles Times reports.

Californians Face Loss of Jobless Benefits

About 222,000 Californians will be dropped from the state's unemployment insurance rolls Saturday in what is shaping up to be a rough start to 2014 for the nation's long-term jobless, the Los Angeles Times reports.

New Car Sales May Break Record in December

Fueled by incentives, total vehicle sales this month are expected to be up at least 4 percent year over year, with the auto industry anticipating all-time record consumer spending on new vehicles, CNBC reports.

Holiday Sales Jump

U.S. holiday sales rose 2.3 percent, flying in the face of predictions of the worst season in years, Reuters reports.

Hollywood's New Financiers Make Deals with Tax Credits

The Los Angeles Times profiles an expanding web of brokers, tax attorneys, financial planners and consultants who help filmmakers exploit the patchwork of state programs to attract film and TV production.

Stormy Outlook for Weather Channel on DirecTV

DirecTV has quietly started distributing a network called WeatherNation just as its deal to carry the Weather Channel is set to expire, the Los Angeles Times reports.

Depreciation Hits Electric Cars Hard

Plug-in electric cars may be cutting-edge technology, but an analysis suggests that most will depreciate more dramatically over five years than their conventional counterparts, USA Today reports.

Markets Rise

In Thursday morning trading, the Dow Jones industrial average was up 55 points to 16,412. The Nasdaq rose 10 points to 4,166. The S&P 500 rose 5 points to 1,838.

Monday, December 23

Banking On Paper

Printing: Superior Press changes checks when lenders merge or are acquired.

Printing – Superior Press has built up a lengthy paper trail redoing checks for acquired and merged banks

Ex-Phone Exec Placed on Hold

Technology: FTC alleges Lin Miao ran ‘cram’ bill scam.

Internet – Cellphone scam allegations could trip up tech incubator founder’s businesses.

Medical Center Will Put New Partnership to Tests

HealthCare: CHA to help Parexel line up patients for clients’ drug trials.

CHA Hollywood Presbyterian Medical Center has formed a partnership with a company that helps drug companies run their clinical trials

Race Tests Car Salesman’s Drive

Haitham Fakhouri never considered himself in top physical shape.

In The Pink

Special Report Year In Review: Biotech sector booms; markets bloom

It was the year of the biotech bonanza in Los Angeles. Of this year’s top five share-price gainers on the LABJ Stock Index, three were from that sector, led by Westwood’s Puma Biotechnology Inc.

Tease photo

School of Platinum

Tom Gores’ firm Platinum Equity may be best known as one of L.A.’s most prominent buyout shops, but it’s also become an academy of sorts – many associates have graduated to start their own private equ

Investment – Working at Platinum Equity has paid dividends for former execs who launched their own firms

Data Bank Conventions

Upcoming Conventions

Data Bank Calendar

Calendar of Events

L.A. Should Home In on Transit

Los Angeles County faces a crisis in housing costs.

News of the Week

Last week’s major news from and other sources

Rejected: Los Angeles County Superior Court Judge Allan J. Goodman tentatively ruled that the Los Angeles City Council did not comply with the state’s environmental law when it approved an update to the Hollywood Community Plan that allows larger buildings in certain areas, particularly near transit stops.

Swimwear Maker Heads North for Pool of Workers

Expansion: O.C.’s RAJ chooses Santa Fe Springs for new factory and office.

In another step on the long march toward repatriating American manufacturing jobs, Tustin swimwear maker RAJ Manufacturing has just opened a factory in Santa Fe Springs.

Drug Company’s Stock Gets Rough Prognosis

Biotech: ImmunoCellular shares fall after missing goal of extending patients’ lives.

Biotech – ImmunoCellular Therapeutics comes up short on Wall Street after company’s drug misses longevity goal

Building Manager Sees Value in Upkeep Costs

Real Estate: CBRE buys maker of software that calculates property expenses.

Real Estate – CBRE builds up consulting business with pickup of company that tallies property unkeep costs.

Golden Triangle Parcel Could Land Record Price

Real Estate: Property in Beverly Hills pitched for hotel-condo development.

Real Estate – Price for Beverly Hills lot could step into the history books as L.A.’s biggest on a per-foot basis

Middle Man Finds Seat at Table With Restaurants

Dining – John Tu feeds Chinese investors’ immigration hopes by helping them set up Italian eateries.

Hallmark Channel Parent Investors See Bad Deal in Cards

TV – Crown Media shareholders fear they won’t be receiving the very best if Hallmark Cards takes the company private.

Rivals Collide On Self-Driving Cars

Marketing: Mach 18 says firm swiped idea to reach riders.

Marketing – Mach 18 alleges it was steered wrong by a prospective contractor over a plan to reach riders in self-driving cars.

School of Platinum

Banking & Finance Quarterly

Orders for Aircraft Parts Give Manufacturer Lift

Aerospace: Analysts see Ducommun shares rising to appropriate height.

Aerospace – Ducommun shares climb in what some analysts see as a bounce-back from too steep of a dip.

regional report

News and notes from communities across Los Angeles County

Lease Deal: Cigna Corp., a Bloomfield, Conn.-based health care insurer, has agreed to a six-year extension of its lease in Glendale in a deal estimated at $11.5 million.

Making Points With Spiky Mats

Bed of Nails hopes to prick interest of more than just hippies with its product.

Health Care – Bed of Nails’ Carina Tannenberg says customers shouldn’t be afraid to poke around her spiky mats.

Balls Bounce Executive’s Way

Sydney Chase quit her job to found business making water-blanketing spheres.

Manufacturing – Sydney Chase didn’t hesitate to dive into making shade balls that cover the water in reservoirs

Gone Fishing – Platinum Vets Look for Big Catch

Acquisitions – Platinum alumni look to sink their hooks into the equity scene by diving into seafood businesses.

Growing Out of Platinum

At least 10 private equity and financial consulting firms in Los Angeles and three others elsewhere were founded by money men who left Beverly Hills firm Platinum Equity. The Business Journal found th

A chart of Platinum veterans who struck out of their own.

Friday, December 20

L.A. Jobless Rate Falls to 9.5 Percent

L.A. County’s unemployment rate dropped to 9.5 percent in November, its lowest point in five years, according to state figures released Friday. The county also created 33,000 payroll jobs, many of those in seasonal retail hires.

OpenGate Acquires Another Plastics Business

Century City’s OpenGate Capital said Friday that it had won a bid to take over bankrupt European plastics manufacturer Kem One SAS, its third deal in the European plastics market this year.

Arrowhead, CytRx Among Week’s Biggest Movers

The Los Angeles Business Journal’s index of largest local public companies closed up for the week.

Markets Rise

In Friday trading, the Dow Jones industrial average closed up 42 points to 16,221. The Nasdaq rose 46 points to 4,105. The S&P 500 rose 9 points to 1,818. The LABJ Stock Index rose 1 point to 177.

Technicolor Closes Glendale Film Lab

In the latest casualty of Hollywood's march to digital technology, Technicolor Inc., the French-owned film processing and post-production company, has closed its film lab in Glendale less than three years after its opening, the Los Angeles Times reports.

Cathay Pacific Places $7.5 Billion Order for Boeing 777X

Boeing Co. won its first Asia order for the new 777X jet from Cathay Pacific Airways Ltd. today, Bloomberg News reports. Cathay, Asia’s top international carrier, will acquire 21 of the planes for $7.5 billion and fly them to North America and Europe.

Obama Lifts Health Mandate for Those with Canceled Plans

Hundreds of thousands of people whose health plans are being canceled because their coverage doesn’t meet Obamacare rules will be exempt next year from the U.S. mandate that all Americans carry medical insurance, Bloomberg News reports.

BlackBerry Posts Huge Loss

BlackBerry reported a $4.4 billion loss and a 56 percent drop in revenue for its fiscal third quarter on Friday and said it would step back from its handset business, the New York Times reports.

Congressman Fears Spinoff May Hurt Times

Rep. Henry A. Waxman expressing concern about the future of the Los Angeles Times, is asking Tribune Co. executives to explain the company's move to spin off its newspaper operations into a separate company, the Los Angeles Times reports.

Why Did Target Take So Long to Report Breach?

The Target data breach affecting 40 million credit and debit cards stems back to Nov. 27, two days before Black Friday. So why did it take so long to come out? Blame protocol, CNBC reports.

An Easing of Rules on Charges by Amex

Agreements with American Express, MasterCard and Visa have cleared the way for vendors to institute a two-tier pricing for shoppers, the New York Times reports.

Hamm: With 100-Year Supply, U.S. Should Export Natural Gas

The U.S. is producing so much natural gas that it should bulk up its exports, oilman Harold Hamm told CNBC.

Corporate Suite vs. Industry Lifer

Charter Communications' acquisition overtures to Time Warner Cable spotlight the two companies' leaders, the Wall Street Journal reports. One rose through the ranks in the industry, and one came in with skills as a deal maker.

What Next for Duck Dynasty?

Reality TV got a little too real for A&E this week when the patriarch of hit show Duck Dynasty made comments to a reporter about gays that shouldn't be a shock to those who follow his onscreen persona, the Los Angeles Times says. The network suspended him, but what happens now?

Markets Gain

In Friday morning trading, the Dow Jones industrial average was up 76 points to 16,255. The Nasdaq rose 35 points to 4,093. The S&P 500 rose 10 points to 1,819.

Thursday, December 19

Scientists Applaud Fracking Rules

A group of 21 scientists from around the country has told Gov. Jerry Brown that California is on the right track with proposed regulations to allow fracking of the state's shale oil reserves.

Frederick's of Hollywood Makes Deal to Go Private

Frederick's of Hollywood Group Inc. on Thursday said that its board has accepted an offer to be taken private by a group led by its largest shareholder.

KB Home Quarter Disappoints

Shares of KB Home fell 6 percent after the homebuilder announced lower-than-expected fourth quarter revenue and earnings per share.

S&P, Nasdaq Fall; Dow, LABJ Rises

In Thursday trading, the Dow Jones industrial average closed up 11 points to 16,179. The Nasdaq fell 12 points to 4,058. The S&P 500 fell 1 point to 1,809. The LABJ Stock Index rose less than 1 point to 176.

Movie App Raises Seed Round

West Hollywood’s MyLingo announced Thursday it has raised $750,000 in seed funding from unnamed angel investors.

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Security Breach Hits 40 Million Target Accounts

Target says that about 40 million credit and debit card accounts may have been affected by a data breach that occurred just as the holiday shopping season shifted into high gear, USA Today reports.

FCC Wants to Eliminate Sports Blackout Rules

The Federal Communications Commission wants to eliminate its almost 40-year-old sports blackout rules, which serve primarily to prevent NFL games being televised in markets where the home team failed to sell out the stadium, the Los Angeles Times reports.

Lions Gate Announces First-Ever Dividend

Lions Gate’s board has declared the company’s first quarterly cash dividend, in the wake of the success of the second film in its "Hunger Games' franchise, Variety reports.

Essex Property Agrees to Buy BRE Properties

Essex Property Trust Inc. will buy BRE Properties Inc. for about $4.3 billion, combining two real estate companies focused on the West Coast market, the Wall Street Journal reports.

Hershey to Acquire Chinese Candy Maker

Chocolate giant Hershey Co. is buying Chinese candy maker Shanghai Golden Monkey Food Joint Stock Co. in a nearly $600 million bid for a stronger hold on one of the world's fastest-growing markets for sweets, Bloomberg News reports.

With Fed Out of the Way, It's Santa's Turn

Even with stocks surging to record highs, traders see upside for the market into year end and are looking for a 'Santa rally' to provide some of the lift, CNBC reports.

Zuckerberg to Sell About $2.3 Billion in Facebook Shares

Facebook Inc. founder and Chief Executive Mark Zuckerberg will sell 41.4 million shares worth about $2.3 billion to pay a tax bill, as part of a 70 million-share offering by the social network, Reuters reports.

Herbalife Perseveres Amid 'Pyramid Scheme' Accusations

Herbalife's stock has surged 130 percent this year as the firm posted growing profits and won a key legal case, deflecting bets by activist investor Bill Ackman that it would fail, the Los Angeles Times reports.

Former Lockheed Chief Lawrence Kitchen Dies

Lawrence O. Kitchen, the business-savvy ex-Marine who ran Lockheed Corp. in an era when the aerospace industry was dominated by scientists and engineers, died Sunday in Woodland Hills, the Los Angeles Times reports. He was 90.

Existing Home Sales Drop for Third Straight Month

The number of people who bought existing homes in November declined for the third straight month, as higher mortgage rates have made home-buying more expensive, the Associated Press reports.

Lockyer Signs with International Law Firm

State Treasurer Bill Lockyer, who announced he will not seek another elected office next year and will leave his current office in January 2015, already has taken a side gig as “of counsel” to a Boston law firm, the Los Angeles Times reports.

Exide Ordered to Clean Up Near Vernon Plant

The state’s Department of Toxic Substances Control has issued an emergency order directing a Vernon battery recycler to clean up lead and other metals that have been deposited near the Exide Technologies plant, the Los Angeles Times reports.

Broker Fights SEC Probe with Harassment Suit

Companies usually keep a low profile when the Securities and Exchange Commission investigates them. Wall Street broker Robert DePalo decided to sue, Bloomberg News reports.

Regional Shippers a New Threat to UPS and FedEx

You probably have never heard of LaserShip Inc. or OnTrac. Yet these small regional shippers may well have dropped a package off at a customer’s doorstep this holiday season — and that has UPS and FexEx worried, the Wall Street Journal reports.

Holiday Discount Fatigue Sets In

Holiday shopping has customers falling ill — from discount fatigue, USA Today reports. Bombarded with daily e-mails from retailers and bored by blanket offers of 40 percent off, shoppers are tuning out.

Stocks Slip

In Thursday morning trading, the Dow Jones industrial average was down 21 points to 16,146. The Nasdaq fell 12 points to 4,058. The S&P 500 fell 5 points to 1,805.

Wednesday, December 18

Thomas Properties Merger Approved

Thomas Properties Group Inc. announced that its stockholders have approved its merger with Parkway Properties Inc., which is expected to close on Thursday.

Arrowhead Reports Smaller Loss

Arrowhead Research Corp. late Wednesday reported a narrower fourth quarter loss, largely due to the Pasadena biotech having more shares outstanding than a year earlier.

Rexford Buys Business Property in Simi Valley

Rexford Industrial Realty Inc. on Wednesday said that it has added to its fast-growing Valley portfolio with a nearly $16 million purchase in Simi Valley.

Stocks Rise

In Wednesday trading, the Dow Jones industrial average closed up 292 points, or 2 percent, to 16,168. The Nasdaq rose 46 points, or 1 percent, to 4,070. The S&P 500 rose 30 points, or more than 1 percent, to 1,810. The LABJ Stock Index rose 3 points, or more than 1 percent, to 176.

Two Big Talent Agencies Reach Deal

William Morris Endeavor Entertainment agreed to buy rival talent and marketing agency IMG Worldwide in a deal that will give WME a boost in the lucrative sports representation and sponsorship business, the Hollywood Reporter says. The Wall Street Journal reports that the deal value was expected to be about $2.4 billion.

DWP Union Chief Refuses to Hand Over Financial Records

The politically powerful head of the Los Angeles Department of Water and Power's largest union has refused to cooperate with an audit of two nonprofit trusts established to improve relations between management and labor at the city-owned utility, the Los Angeles Times reports.

Bitcoin Value Sinks after Chinese Exchange Move

China’s biggest Bitcoin exchange was forced to stop accepting deposits in the Chinese currency on Wednesday, sending the price of the virtual money tumbling in one of its biggest markets, the New York Times reports.

State's Health Exchange Sent Wrong Info to 114,000 Households

Adding to consumer confusion ahead of a major enrollment deadline, Covered California sent flawed eligibility notices to nearly 114,000 households due to a computer error, the Los Angeles Times reports.

What the Fed Meeting Could Mean

The outcome of today's Federal Reserve meeting is expected to set the tone for trade in the U.S. dollar heading into 2014, whatever decision is reached on the highly-anticipated tapering of monetary stimulus, CNBC reports.

L.A. to Get $605 Million from Lead Paint Verdict

Lead paint makers suffered a landmark defeat this week when a state court judge in San Jose ordered the industry to create a $1.1 billion fund to eliminate lead hazards to children in hundreds of thousands of homes in the state, the Los Angeles Daily News reports.

Home Construction Soars, Mortgage Applications Fall Amid Uncertainty

U.S. builders broke ground on homes last month at the fastest pace in more than five years, which the Associated Press reports may be strong evidence that the housing recovery is accelerating despite higher mortgage rates. But CNBC reports that the rate increase likely contributed to mortgage applications falling 5.5 percent in the past week, to the lowest level in more than 12 years.

Jan Perry Becomes Head of Economic Department

The Los Angeles City Council on Tuesday confirmed former Councilwoman Jan Perry's appointment as head of a new agency charged with spurring business activity and employment in the city, the Los Angeles Times reports.

AMC IPO Raises $332 Million

AMC Entertainment Holdings Inc., the U.S. movie-theater chain controlled by China’s second-richest man, jumped in its trading debut after raising about $332 million in its return to the public markets after nine years, Bloomberg News reports.

'Rapture' Preacher Harold Camping Dies at 92

The often-ridiculed Harold Camping didn't live to see the end of the world, the Los Angeles Times reports. The Oakland radio preacher, who died Sunday, drew international attention when he more than once predicted — most famously in 2011 — the precise date of the Rapture and then had to concede his error.

Qatar Suddenly Investing Heavily in the U.S.

From Al Jazeera America to Washington, D.C.'s biggest construction project in two decades, the tiny, rich nation o0f Qatar is bullish on investing in the United States. The Washington Post looks at possible reasons why.

Dow Rises; Nasdaq, S&P Fall

In Wednesday morning trading, the Dow Jones industrial average was up 41 points to 15,916. The Nasdaq fell 7 points to 4,017. The S&P 500 fell 1 point to 1,782.

Tuesday, December 17

State Drops Tax Deposit Requirement

Local startups have just been handed a bit of holiday cheer: the state will no longer require security deposits for new businesses in most cases and will refund about $300 million in deposits it’s now holding.

CBRE Acquires Santa Barbara Firm

CBRE Group Inc. said Tuesday that it has acquired Whitestone Research Corp., a Santa Barbara consulting and software company that provides real estate-related products and services.

Long Beach Port Traffic Rises

Cargo volume at the Port of Long Beach climbed 2.5 percent in November, compared to the same month last year, according to figures released Monday.

OpenGate to Acquire Belgian Chemicals Company

OpenGate Capital said that it signed an agreement with Belgian chemicals company Solvay to acquire its Benvic PVC plastic compounding business.

Stocks Decline

In Tuesday trading, the Dow Jones industrial average closed down 9 points to 15,875. The Nasdaq fell 6 points to 4,024. The S&P 500 fell 6 points to 1,781. The LABJ Stock Index fell less than 1 point to 173.

Weinsteins to Reunite With Miramax

Bob and Harvey Weinstein, who founded Miramax but left in a 2005 split with its then-owner, Walt Disney, have signed a deal to make films and TV shows based on the studio’s library, now held by a consortium led by Colony Capital, the Los Angeles Times reports.

Stimulus End Expected in February

Wall Street is now expecting the reduction in Fed stimulus to the economy to come in February, according to a CNBC survey of market experts.

Judge: NSA Program Probably Unconstitutional

A federal judge has for the first time ruled that the National Security Agency's once-secret policy of collecting the dialing records of all phone calls in the country probably violates the Constitution, the Los Angeles Times reports.

Facebook to Start Selling Video Ads

Facebook Inc. said it would begin selling video advertisements later this week, a move that may help the social-networking giant capture a share of the annual $66.4 billion TV advertising market, the Wall Street Journal reports.

Another Effort for Oil Extraction Tax Planned

Billionaire environmentalist Tom Steyer says he will launch a campaign next year urging California lawmakers to approve taxes on companies that extract oil in the state, the Associated Press reports. Oil companies have successfully blocked such fees in the past.

Glaxo to Stop Paying Doctors to Promote Drugs

GlaxoSmithKline will no longer pay doctors to promote its products and will stop tying compensation of sales representatives to the number of prescriptions doctors write, ending practices criticized for creating conflicts of interest, the New York Times reports.

'Parkland’ Producer Moves to IM Global

IM Global has hired former Exclusive Media executive Matt Jackson as its president of production, the Wrap reports. Jackson, produced “Parkland” and “End of Watch,” will oversee all development and production at the company.

Target Refuses to Sell Beyonce’s New Album

Target said Monday that will not sell Beyonce’s new album because she released it online first, Variety reports. The retailer argues that when a new album is available digitally before it is available physically, it impacts demand and sales projections.

Chocolate Eaters Drive Record Cocoa-Output Deficit

Global cocoa supplies are headed for the longest production shortfall in more than five decades as chocolate demand surges in Asia and droughts in cocoa-producing regions hurt harvests, Bloomberg News reports.

Time to Reinvent Job Structures in an Always-On World

How do you keep your brand relevant in today's "always on" environment? AdAge talks to executives who say it means acting more like a startup, not only busting down silos at your company, but also reinventing your job.

Stocks Drop

In Tuesday morning trading, the Dow Jones industrial average was down 40 points to 15,848. The Nasdaq fell 14 points to 4,016. The S&P 500 fell 8 points to 1,779.

Monday, December 16

Herbalife Shares Jump on Re-Audit Results

Shares of Herbalife Ltd. rose more than 9 percent on Monday after the nutritional supplement company said a re-audit of more than three years of its financial results found no material changes to earlier statements.

Healthy Jump in L.A. Port Activity

Traffic at the Port of Los Angeles increased 17 percent in November compared to the same month last year, according to figures released Monday.

Cigna to Keep Local Offices in Glendale

Health care insurer Cigna Corp. has agreed to a six year extension of its lease in Glendale in a deal with an estimated value of $11.5 million.

Stocks Gain

In Monday trading, the Dow Jones industrial average closed up 129 points to 15,885. The Nasdaq rose 29 points to 4,029. The S&P 500 rose 11 points to 1,787. The LABJ Stock Index rose 1 point to 174.

App Launches to Track Fitness Routines

The free app is in beta and has a few rudimentary workout regimens built-in.

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AIG to Sell ILFC to Dutch Firm

American International Group Inc. will sell its stake in Century City's International Lease Finance Corp to aircraft-leasing company AerCap Holdings for $5.4 billion in cash and stock, the Wall Street Journal reports.

Hanmi to Buy Texas Bank

Koreatown's Hanmi Financial has agreed to buy Central Bancorp in Garland, Texas, American Banker reports.

Economic Recovery Expected to Gain Strength

After six years of a gloomy recession and shaky recovery, the U.S. economy looks poised to regain its glow next year with stronger job growth, bigger income gains and a resurgence of home sales, the Los Angeles Times reports.

Internet’s Legacy: No More Secrets

From the NSA and China to Google and Facebook, one of the big lessons of 2013 is that anyone who can watch you will watch you. Hot new social apps such as Snapchat, Whisper and Telegram appear to offer a more private alternative ¬ until you read the fine print, the New York Times reports.

USC President Among Top Paid School Execs

USC President C. L. Max Nikias was the 13th-highest compensated private university president in 2011, making nearly $1.4 million in total pay, the Los Angeles Times reports.

Tesla Plans to Debut Cheaper Car

Tesla Motors plans to unveil an electric car in early 2015 that could sell in the $40,000 range, a mainstream offering that could be key to the automaker's future growth, the Los Angeles Times reports.

Reliance Steel Irons Out Its Recession Difficulties

L.A. metal service center operator Reliance Steel, which saw a 39 percent revenue drop to $5.3 billion in 2009, is expecting about $10 billion in sales this year, the Los Angeles Times reports in a company profile.

Residents Living Near Expo Line Reduce Car Use

Households within a half-mile of an Expo Line station reduced their driving by 10 to 12 miles a day, compared with those who lived farther away, the Los Angeles Times reports.

Pilot Program May Reduce Truck Idling at Ports

Trade industry leaders have launched a pilot program that could change the way trucks and terminals operate at the ports of Los Angeles and Long Beach, the Long Beach Press-Telegram reports.

More Retailers See Haggling From Shoppers

Armed with increasingly sophisticated price-tracking tools on their smartphones, more shoppers are taking the art of bargaining to stores selling cashmere or leather boots, and retailers are accepting this trend, the New York Times reports.

SAG's Health Plan Moves to Widen Eligibility

The SAG health plan has taken a first step to improve eligibility for performers, starting in July, as part of ongoing efforts to merge the SAG plan with the AFTRA plan, Variety reports.

Investors Hungry for U.S. Corporate Bonds

Bond investors are showing the most confidence in corporate America since the financial crisis, underscoring expectations that the U.S. economy will keep rolling as the Federal Reserve prepares to trim monetary stimulus, the Wall Street Journal reports.

Companies Turn Again to Stock Buybacks

Rather than tout big new investments, raise worker wages or hire more employees, companies these days are more likely to set aside funds to reward shareholders — a trend that took a dip during the recession but has roared back during the recovery, the Washington Post reports.

Gluten-Free a Tough Recipe for Many Restaurants

The hunger for gluten-free foods has become a headache for restaurant chains, as they struggle to produce dishes that meet strict requirements from customers and government regulators, the Wall Street Journal reports.

Stocks Rise

In Monday morning trading, the Dow Jones industrial average was up 137 points to 15,893. The Nasdaq rose 27 points to 4,028. The S&P 500 rose 12 points to 1,787.

Courting Trouble?

Sports: Clippers’ marketing promotion leads to fan crying foul over text spam.

Sports: Clippers face net loss as a fan files for a class-action suit over spam texts received after a game promotion.

Data Bank Conventions

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Calendar of Events

Lawyers Make Case to Party On

Duo turned to lawsuit to secure proper permit for annual holiday festivity.

Law: High-profile attorneys to party on after filing lawsuit over street access for their annual holiday shindig.

Getting the First Laugh

When Lew Feldman, chairman of law firm Goodwin Procter’s L.A. office, sat down with Westfield Group co-Chief Executive Peter Lowy last month for a real estate symposium talk in downtown Los Angeles, it was more than the usual highbrow market discussion,

regional report

Moved In: APC Postal Logistics, an East Rutherford, N.J.-based international parcel and mail delivery company, has opened a West Coast facility in Bell.

West L.A. Campus Sale Reflects Market’s Appeal

Real Estate: Hines shells out $506 million for Howard Hughes Center.

Real Estate: Hines’ $506 million deal for the Howard Hughes Center shows L.A.’s market can be an asset for outside investors.

‘Fire’ Producer Catching Nothing but Stock Flak

Film: Lions Gate shares fall despite sequel piling up dough at box office.

Film: Shares fall for “Hunger Games” producer Lions Gate despite “Catching Fire” sequel’s heat at box office.

Talent Agency Looks to Line Up Below-Line Jobs

Representation: New hires at APA take role in handling crew workers.

Talent agency APA of Beverly Hills has quickly built a new business this year – representing below-the-line TV and film workers.

Financial Institutions Fight to Get Handle on Name

Lending: South Korean bank wins court round on use of ‘Hana.’

In Japanese it means “flower.” In Korean, it translates as “No. 1” or “first.”

News of the Week

Local Deal: Leonard Green & Partners, a Westwood private equity firm that already has investments in apparel retailers J. Crew and Topshop, has signed a deal to acquire downtown L.A.’s Lucky Brand Jeans from Fifth & Pacific Cos. of New York for $225 million

City of Bell Rings Up Blockbuster Land Deal

Sale: Developer pays $44 million for 39 acres of undeveloped property.

In the largest land deal in central Los Angeles in more than a decade, the city of Bell has sold 39 acres of undeveloped property along the 710 freeway to Long Beach developer Pacific Industrial for more than $44 million.

Positive Drug Trials Spur Healthy Investor Interest

Biotech: Puma shares soar after cancer treatment surpasses expectations.

Biotech: Investors went on the prowl for Puma stock after its cancer treatment drug surpassed test expectations.

Scanner Maker Loses Baggage

Security: Questions over Chinese parts cost OSI contract.

Security: OSI baggage-scanner contract falls to pieces over concern for the machines’ use of a Chinese-made part.

Brokerage Builds Bridges Overseas

Real Estate: MSM opens China office to court homebuyers.

Real Estate: MSM Luxury Estates has homed in on Hangzhou to line up Chinese buyers for pricey L.A. residences.

Eight Over Eighty Aaron Eshman and Alfred Stern

Eight Over 80 Special Reoprt

Eight Over 80 Roger Corman

Eight Over 80 Special Report

Eight Over 80 Frank Foellmer

Eight Over 80 Special Report

Eight Over 80 Frederick M. Nicholas

Eight Over 80 Special Report

Eight Over 80 Jonah Goldrich

Eight Over 80 Special Reoprt

Fairfax Exodus

Jewish stores give way to burger places, hip-hop shops

Retail: Burger and streetwear shops in the Fairfax district have pulled up rents and pushed out some of the area’s Jewish merchants

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It's Rewarding to Stay in the Game


L.A. business leader Eli Broad turned 80 this year, but the milestone birthday hasn’t slowed him down: He still puts in 60 hours a week.

Eight Over 80: Eli Broad


L.A. business leader Eli Broad turned 80 this year, but the milestone birthday hasn’t slowed him down: He still puts in 60 hours a week.

Eight Over 80: Elaine Lazar


Elaine Lazar still lives the same way she did as a girl. In her words: “I tried everything that seemed reasonable and didn’t ask anyone’s permission. I still feel that way today.”

Getting Los Angeles Moving

OP-ED: Clearing streets of congestion might include placing curbs on developers and trucking industry.

Transportation: Angelenos can’t steer clear of tough choices if they want to ease traffic, write Richard J. Riordan and Tim Rutten.

Porn Productions Have Safety Covered


Entertainment: Ed Krayewski finds little merit in modest arguments for condom use in porn productions.

Contest Brings Kids Up to Code

Virtual Piggy’s hackathon restricts competitors to teenagers or younger.

Technology: Virtual Piggy goes whole hog on app creation contest only for youths.

Verizon Makes Call on Content Delivery Network

INTERNET: Telecom giant snaps up EdgeCast to move deeper into mobile.

Verizon dials up deal to acquire content delivery network operator EdgeCast

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Temporary Message App Speaks to Surprise Investor

INTERNET: Snapchat pulls in $50 million from fund that rarely backs tech.

Temporary message app Snapchat connects with surprise investor to raise $50 million.

Publisher Sports Black Eye Over ‘Athlete’ Limits

VIDEO GAMES: Riot axes streaming restrictions after bad feedback on Internet.

Video game makers have been pushing hard for professional gaming to be considered a legitimate sport – few companies harder than Santa Monica’s Riot Games Inc.

Might Oxy Ditch L.A. HQ to Hang Its Hat in Houston?

Is Occidental Petroleum Corp., L.A.’s second largest public company, planning to move its corporate headquarters to Houston? There are signs it could do so.

Traffic Fix? Nothing Is Easier


Since driverless cars are coming, maybe there’s no need to worry about freeway congestion anymore, Charles Crumpley writes

Friday, December 13

BYD Supporters Defend Bus Maker

Chinese electric vehicle manufacturer BYD Co. Ltd. held a press conference on Friday to further defend itself from allegations it did not comply with minimum wage laws for engineers working at its Lancaster plant and North American headquarters in downtown Los Angeles.

Jacobs Engineering Buys Australian Firm

Jacobs Engineering Group Inc. in Pasadena said Friday that it completed its $1.1 billion acquisition of Australian professional services firm Sinclair Knight Merz.

Safety-based Moratorium Lifted on Adult Film Production

A moratorium on adult film production in the Los Angeles area was lifted Friday after tests were completed on partners of an adult performer who tested positive for HIV.

CytRx, ImmunoCellular Among Week’s Biggest Movers

The Los Angeles Business Journal’s index of largest local public companies closed down for the week.

Dow, Nasdaq Rise; S&P, LABJ Fall

In Friday trading, the Dow Jones industrial average closed up 16 points to 15,755. The Nasdaq rose nearly 3 points to 4,001. The S&P 500 fell less than 1 point to 1,775. The LABJ Stock Index fell less than 1 point to 173.

CallFire Names New CEO

The company said Friday it has promoted Ron Burr, formerly the company’s chief revenue officer. He replaces CallFire co-founder Dinesh Ravishanker, who has left the company.

O.C. Register Publisher to Launch L.A. Paper

Publisher Freedom Communications of Santa Ana will launch a daily newspaper next year called the Los Angeles Register that will compete with the Los Angeles Times, the Business Journal reports.

Proud Bird to Remain Open

The Proud Bird, a historic LAX-area restaurant that was threatened with closure, will remain open for at least another year under a temporary lease from the Los Angeles World Airports, the Los Angeles Times reports.

Rizzo to Plead Guilty to Tax Charges

Former Bell city manager Robert Rizzo, who claimed more than $770,000 in fraudulent losses, has agreed to cooperate with federal authorities, the Los Angeles Times reports. He already is facing 10 to 12 years in prison for his role in the city's corruption scandal.

Boeing to Cut as Many as 300 Southland Workers

A Boeing workforce reduction, part of a companywide restructuring, will affect the company’s sites in the South Bay and Orange County, the Los Angeles Times reports. Meanwhile, Machinist union leaders on Thursday rejected an offer from Boeing that would have helped keep production of the new 777X jetliner in Washington state, Reuters reports.

FCC to Consider Lifting in-Flight Cell Phone Ban

The Federal Communications Commission voted 3-2 Thursday to consider lifting its ban on in-flight cell phone use, CNN/Money reports.

House Sends Budget Bill to Senate

A bipartisan budget pact has cleared the House of Representatives and is in the hands of the Senate, where it will encounter stronger resistance from Republicans, the Associated Press reports.

Instagram Direct Takes Photo-Sharing Private

Facebook Inc.'s Instagram app is launching a photo- and video-messaging service, Instagram Direct, soon after a competing popular mobile app, Snapchat, spurned a $3 billion offer from the social network, the Wall Street Journal reports.

City: Unions Missed Deadline to Challenge Pension Rollback

A Los Angeles employee relations officer delivered a stinging defeat to the city's labor leaders Thursday, saying that they failed to meet a procedural deadline for challenging a hotly contested rollback in public employee pension benefits, the Los Angeles Times reports.

California Public Opinion Turns Against Unions

A Field Poll says public support for labor unions has plunged in California, with more voters for the first time saying they do more harm than good, the Sacramento Bee reports.

Blackstone Gets Last Laugh in Hilton IPO

When Blackstone took Hilton private in 2007 for $26 billion, it appeared to have been badly mistimed. But through a combination of luck, smart financial engineering and disciplined management, the firm increased the value of its investment by nearly $10 billion, the New York Times reports,

Charter Prepares Offer Letter for Time Warner Cable

Charter Communications Inc. is preparing an offer letter to acquire Time Warner Cable Inc. for less than $140 a share, Bloomberg News reports.

DirecTV Explores Online Video Service

DirecTV is exploring the idea of an online video service that would appeal to "price-sensitive" young people or other customers who have dropped their pay-TV service, the Wall Street Journal reports.

Netflix: 'Stream and Binge' Is Here to Stay

Netflix today will reveal a snapshot of a phenomenon that is reshaping TV culture — viewers devouring shows in long jags, episode after episode, the Wall Street Journal reports. In general, the study indicates, about half the viewers studied finished a season (up to 22 episodes) within one week.

Making Cleaning Green

Garden Grove's Earth Friendly Products is capitalizing on increasing consumer interest in non-toxic cleaning products, the Los Angeles Times reports.

A Stream of Music, Not Revenue

With download sales cooling after a decade of growth, streaming such as Spotify, Pandora and Apple’s new iTunes Radio have the potential to transform the industry’s financial model by charging to listen, the New York Times reports.

What May Save Retailers This Christmas

With the continued explosion of Internet shopping this holiday season, retailers need to stop thinking about consumers buying either online or in the stores. It's now both, CNBC reports.

Dow, Nasdaq Up; S&P Down

In Friday morning trading, the Dow Jones industrial average was up 5 points to 15,744. The Nasdaq rose less than 1 point to 3,999. The S&P 500 fell 1 point to 1,774.

Thursday, December 12

O.C. Register Publisher to Launch L.A. Paper

Newspaper publisher Freedom Communications of Santa Ana will launch a daily newspaper next year called the Los Angeles Register that will compete with the Los Angeles Times.

TCP Capital Commences Stock Offering

TCP Capital Corp. late Thursday said that it has commenced a public offering of 3.75 million shares of its common stock, proceeds of which will be used to pay down its revolving credit facility.

Tutor Perini Wins $510 Million NYC Contract

Tutor Perini Corp. announced Thursday a subsidiary has won a $510 million contract at the Hudson Yards mixed use development in downtown New York City.

Stocks Decline

In Thursday trading, the Dow Jones industrial average closed down 104 points to 15,739. The Nasdaq fell 5 points to 3,998. The S&P 500 fell 7 points to 1,775. The LABJ Stock Index fell 1 point to 173.

TrueCar Raises $30 Million

Abhishek Agrawal, who heads Vulcan’s growth equity investments, will join TrueCar’s board.

Judge Rejects Hollywood Growth Plan

A Los Angeles County Superior Court has dealt a major blow to efforts to spur larger development in parts of Hollywood, ruling that a zoning plan for the area was "fatally flawed" and should be repealed, the Los Angeles Times reports.

Hilton IPO Outdoes Twitter

Hilton Worldwide Holdings Inc., the world's largest hotel group, has raised $2.35 billion in its return to Wall Street, surpassing the $2.1 billion generated by Twitter's IPO last month, the Associated Press reports. Shares continued to climb this morning, Bloomberg News reports.

Obamacare Enrollment Soars in November

Nearly 365,000 people have signed up for Obamacare in its first two months, and the pace of sign-ups accelerated in November, CNN/Money reports.

Regulators Delay Shipping of Sriracha

Sriracha hot sauce manufacturer Huy Fong Foods cannot ship out any more sauce until mid-January because the California Department of Public Health has begun enforcing stricter guidelines for the company, the Los Angeles Times reports.

Retail Sales Surge, but Jobless Claims Did Too

The number of Americans filing new claims for unemployment benefits rose sharply last week, reversing the prior three weeks declines, but Reuters says another report ¬ that U.S. retail sales rose solidly in November ¬ clouds the impact of those numbers.

More Californians Exhaust Jobless Benefits

About 1.2 million Californians have exhausted all of their unemployment benefits, and the state Employment Development Department says another wave is fast approaching, the Los Angeles Daily News reports.

Developers See Pasadena as an Inland 'Silicon Beach'

Entrepreneur David Sacks and Rising Realty have bought three century-old buildings in Old Pasadena and plan to transform them into a hub for tech start-ups, the Los Angeles Times reports.

Controversial Rehab Leaders Plan New Facility

Rehab veterans who came under scrutiny for their questionable care practices at an A-list Hollywood Hills addiction treatment center, are looking to raise $500,000 for a "sober club with restaurant, games, music & fun," the Hollywood Reporter says.

Sheraton Gateway Sold

The Sheraton Gateway Los Angeles Hotel, a 15-story inn next to Los Angeles International Airport, has been sold for $96 million to a Chinese real estate developer, the Los Angeles Times reports.

Pepsi Takes Chain Restaurant From Coke

PepsiCo is to announce on Thursday that it is unseating Coca-Cola as the beverage supplier to one of the nation’s hottest restaurant chains, Buffalo Wild Wings, the New York Times reports.

JPMorgan to Pay $1 Billion in Madoff Criminal Probe

JPMorgan Chase is expected to pay more than $1 billion to the Justice Department to end a probe into whether it provided adequate warnings about Bernard L. Madoff, the Wall Street Journal reports.

Oprah Rising

The Hollywood Reporter interviews media mogul Oprah Winfrey as part of its 2013 Women in Entertainment Power 100 event.

Dow, S&P Fall; Nasdaq Rises

In Thursday morning trading, the Dow Jones industrial average was down 61 points to 15,782. The Nasdaq rose 6 points to 4,010. The S&P 500 fell 2 points to 1,780.

Wednesday, December 11

Aecom Names CEO Successor

Mike Burke will take over in March as chief executive of downtown L.A. engineering and technical services firm Aecom Technology Corp., the company announced Wednesday.

Meruelo Buys KDAY

Classic hip-hop station KDAY (93.5) of Redondo Beach has been sold to Meruelo Media of Los Angeles, the company announced Wednesday, and will retain its format.

Rexford Buys Industrial Park in Pomona

Rexford Industrial Realty Inc. on Wednesday said that it has acquired Bonita Thompson Industrial Park, a 16.3-acre industrial complex in Pomona.

Michelle Malkin Sells Conservative Site Twitchy to Salem

Salem Communications Inc. has acquired the Twitter compilation site from politically conservative author and columnist Michelle Malkin.

Stocks Decline

In Wednesday trading, the Dow Jones industrial average closed down 130 points, or 1 percent, to 15,844. The Nasdaq fell 57 points, or 1 percent, to 4,004. The S&P 500 fell 20 points, or 1 percent, to 1,782. The LABJ Stock Index fell more than 2 points, or 1 percent, to 174.

Snapchat Raises Another $50 Million

Snapchat, the Venice messaging startup, has filed documents with the Securities and Exchange Commission saying it has raised another $50 million.

Volcker Rule Approved

U.S. regulators have taken a major step toward reining in high-risk trading on Wall Street by putting restrictions on trading by big banks for their own profit, the Associated Press reports. The New York Times describes the process that put the brakes on those trades.

Budget Deal Would Restore Some Sequester Cuts

A bipartisan budget deal announced in the U.S. Congress would end three years of impasse and fiscal instability in Washington if it breaks through Conservative opposition over added spending, Reuters reports.

California Makes Bid for Boeing 777X Program

California officially joined a nationwide sweepstakes to woo aerospace giant Boeing Co. to build the next-generation 777X airliner in the state, the Los Angeles Times reports.

Disney May Expand Shanghai Park

Walt Disney Co. may quickly enlarge its Shanghai resort after it opens in late 2015 in order to meet rising demand in the world’s most populous country, Bloomberg News reports.

LACMA Lab to Combine Art and Tech

With financial support from Google, SpaceX and other tech companies, the Los Angeles County Museum of Art unveiled plans for the Art + Technology Lab, which will provide grants and lab space to artists who want to experiment with new technologies, the Los Angeles Times reports.

Murdock Lists Bel Air Estate for $30 Million

A Bel Air estate owned by Dole Foods Co. Chief Executive David H. Murdock is listed for $30 million, the Wall Street Journal reports.

Hedge Funds Attract Billions in New Money

Thanks to a shift in how investors view the industry, hedge fund managers are attracting new money and preparing expansion plans even though their performance has fallen behind roaring equity markets this year, CNBC reports.

'12 Years a Slave' Tops SAG Nominations

The road to Oscar gold began in earnest early this morning with the nominations for the 20th Screen Actors Guild Awards, the Los Angeles Times reports.

Brad Pitt's Film Company Signs New Deal

Plan B Entertainment's production deal with New Regency and RatPac Entertainment precipitates the departure of Brad Pitt's company from Paramount Pictures at the end of the year, the Los Angeles Times reports.

Discovery Considers Bid for Scripps Networks Interactive

Discovery Communications Inc. is considering a bid for Food Network majority owner Scripps Networks Interactive Inc., signaling that a consolidation wave among television channel owners may be on its way, the Wall Street Journal reports.

Liz Gaier New CEO of PennySaver

PennySaver USA has hired newspaper veteran Liz Gaier as its new chief executive, the Orange County Business Journal reports. Los Angeles buyout firm OpenGate Capital LLC acquired the company from San Antonio-based Harte-Hanks Inc. in September.

Former Los Angeles Times Exec Now at SiriusXM

Kathy Thomson, the former president and chief operating officer of the Los Angeles Times Media Group, has been hired as chief marketing officer and executive vice president at satellite radio service Sirius XM Holdings Inc., Southern California Public Radio reports.

How 'Anchorman 2' Became More Viral Than the Flu

Since the "Anchorman 2" movie was announced more than a year and a half ago, there's been a museum exhibit, commercials, a book, a mobile game, TV cameos and the renaming of a college. Bloomberg BusinessWeek looks at how the Ron Burgundy is reinventing how to promote a movie.

Stocks Slide

In Wednesday morning trading, the Dow Jones industrial average was down 51 points to 15,922. The Nasdaq fell 19 points to 4,041. The S&P 500 fell 8 points to 1,794.

Tuesday, December 10

Leonard Green to Buy Lucky Brand Jeans

Leonard Green & Partners, the Westwood private equity firm that already has investments in retailers J. Crew and London’s Topshop, is getting deeper into denim, planning to buy Lucky Brand Jeans from New York’s publicly traded Fifth & Pacific Cos. for $225 million.

Platinum Equity to Acquire Volvo Rents

Platinum Equity on Tuesday said that it has agreed to acquire Volvo Rents from Sweden’s Volvo Group in a deal valued at $1.1 billion.

AEG Names Convention Center Management

The Los Angeles Convention Center has a new management team focused on increasingly profitability at the Downtown Los Angeles venue, operator AEG Facilities announced Tuesday.

ValueClick to Sell Web Site Unit

ValueClick Inc. announced late Monday that it has agreed to sell all of its websites to IAC/Interactive Corp., the New York digital media company run by Barry Diller.

JM Eagle Threatens Suit Against Lawyers in Whistleblower Case

Los Angeles plastic pipe maker JM Eagle Manufacturing Co. has accused lawyers in a successful whistleblower case against it of making false and defamatory statements after a jury returned a verdict against the company and its former parent company, Formosa Plastics Corp. USA.

Direct Marketing Entrepreneur Russ Reid Dies

Russ Reid, founder of direct marketing firm Russ Reid in Pasadena, died Dec. 7 at his home in Sierra Madre. He was 82 years old.

Stocks Decline

In Tuesday trading, the Dow Jones industrial average closed down 52 points to 15,973. The Nasdaq fell 8 points to 4,060. The S&P 500 fell 6 points to 1,802. The LABJ Stock Index fell less than 1 point to 176.

Saatchi Online Taps New Chief

The Culver City company on Tuesday announced that it has appointed Sean Moriarty to lead the business. He replaces interim chief executive Margo Spiritus.

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Shift Raises Round for International Expansion

Santa Monica marketing tech startup Shift is making a push into overseas markets with the help of a $6 million capital infusion from London investor DN Capital.

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Snapchat Seeks Restraining Order Against Cofounder

Drama abounds at Snapchat, the hot photo-sharing app popular among teens, Time reports. The Venice company has filed for a temporary restraining order against ousted cofounder Reggie Brown, who allegedly has been sharing a bit too much with the press, TechCrunch reports.

Survey: L.A. Employers Plan to Increase Hiring

The Business Journal reports that one in five Los Angeles area employers plan to hire more workers during the first quarter, the best showing in several years, according to a survey released today from Manpower Inc.

Tribune Moves Forward with Spinoff

Los Angeles Times parent Tribune Co. is moving forward with a public spinoff of its newspaper unit by submitting preliminary paperwork to the Securities and Exchange Commission, the Times reports.

GM Names First Female CEO

General Motors Co. on Tuesday named Mary Barra its first female chief executive, the Wall Street Journal reports. Also, the U.S. government has sold its last shares of the company from its bailout during the financial crisis.

CFO: Disney Still on Lookout for Deals

Despite increasing its stock buyback plans, the Walt Disney Co. -- responsible for some of the biggest entertainment deals in the past decade -- may not be done shopping, Chief Financial Officer Jay Rasulo said at a New York investor conference this morning, the Wrap reports.

Next-Generation Consoles an Opportunity for Activision

Activision Blizzard Chief Executive Bobby Kotick tells the Los Angeles Times that new consoles, such as the Xbox One and PlayStation 4, hold the potential for new types of storytelling for the medium.

Spaccia Guilty in Bell Scandal

Angela Spaccia, former deputy city manager of Bell, was convicted on Monday for her role in the city’s corruption scandal, the Los Angeles Times reports.

Zoo Marketing Plans Faces Delay

With opposition from city unions and facing a tight timeline, two Los Angeles city panels said Monday they wanted more time to study a new three-year marketing and promotional agreement for the Los Angeles Zoo, the Los Angeles Daily News reports.

Legendary Buys Asylum Entertainment

Legendary Entertainment on Monday said it was expanding its television production capability by acquiring Asylum Entertainment, the company behind the biographical miniseries "The Kennedys,” Variety reports. Asylum will continue to operate as a separate company.

Poll: Majority of California Voters Back Marijuana Legalization

A new Field Poll tracks the increasingly green-friendly attitude of Californians, the Sacramento Bee reports, with 8 percent of voters okay with allowing anyone to purchase cannabis and 47 percent saying it should be available with the types of controls that govern alcohol sales.

Retailers Turn Store Clerks Into Web Shippers

Retailers ranging from Sears to Saks have all embraced shipping to compete against Amazon, the Wall Street Journal reports. They are shuttling merchandise store to store, warehouse to store, store to customer — often both quickly and free.

The Wealthy Go Frugal This Holiday

It’s not just low-income shoppers who are pulling back on spending for loved ones and themselves this holiday season, Bloomberg News reports. Wealthy folks are watching their dollars, too.

Dow, S&P Down; Nasdaq Up

In Tuesday morning trading, the Dow Jones industrial average was down 22 points to 16,003. The Nasdaq was up less than 1 point to 4,069. The S&P 500 fell 2 points to 1,806.

L.A. Employers Plan to Increase Hiring

One in five Los Angeles area employers plan to hire more workers during the first quarter, the best showing in several years, according to a survey released today from Manpower Inc.

Monday, December 9

Verizon to Buy EdgeCast

EdgeCast will function as Verizon’s main provider of content delivery services and is part of the Basking Ridge, N.J. wireless company’s effort to expand its array of digital services.

Young Turks Crowdfund New Studio

TYT Network, a multichannel network that airs episodes of political talk show “The Young Turks,” last month moved into a 6,000-square-foot office in Culver City.

Howard Hughes Center Sold for $506 Million

Hines Real Estate Investment Trust Inc. of Houston agreed last week to buy the expansive Howard Hughes Center in Marina del Rey for $506 million.

Aecom Announces Overseas Contracts

Aecom Technology Corp. has received a contract to resume program management of construction projects planned by the Libyan government's Housing and Infrastructure Board that were suspended during that country’s 2011 revolution.

Justice Department Accuses IPC of Billing Fraud

The Justice Department is taking over a private whistleblower lawsuit against IPC The Hospitalist Co. Inc., alleging the company overbilled the government’s Medicaid and Medicare programs, the department announced Monday.

NBCUniversal Makes Deal with AllThingsD Founders

Walt Mossberg and Kara Swisher, founders of the respected tech news site AllThingsD, reportedly have signed a joint venture with NBCUniversal to create an online news and conference business after they leave News Corp. at the end of the year.

Stocks Gain

In Monday trading, the Dow Jones industrial average closed up 5 points to 16.026. The Nasdaq rose 5 points to 4,069. The S&P 500 rose 3 points to 1,808. The LABJ Stock Index rose less than 1 point to 177.

Exchange Gave Consumers Info to Insurers

California's health exchange has provided insurance agents with names and contact information for tens of thousands of people who went online to check out coverage but didn't ask to be contacted, the Los Angeles Times reports.

Former Napster Exec Killed During Bike Ride

Milton Olin Jr., a former chief operating officer of music-sharing site Napster, died Sunday after his bicycle was struck by a police patrol car on Mulholland Highway, the Wrap reports.

Sysco to Buy US Foods for $3.5 Billion

Sysco on Monday said it would buy US Foods for about $3.5 billion in stock and cash, uniting two of the biggest food distributors in the country, the New York Times reports.

Spies’ Dragnet Probes Video Games

Fearing that terrorist or criminal networks could use online video games to communicate secretly, move money or plot attacks, American and British spies have infiltrated the fantasy worlds of Activision's World of Warcraft and Linden Lab's Second Life, the New York Times reports.

Water Contamination Problems at Bradley Terminal

With the Los Angeles in the midst of a $2-billion transformation of LAX's Tom Bradley International Terminal, airlines that use the facility's old and new gates have been unable to replenish their aircraft with drinking water because of contamination in the building's plumbing, the Los Angeles Times reports.

A New American Airlines Emerges

American Airlines has emerged from bankruptcy protection and US Airways culminated its long pursuit of a merger partner after the two completed their deal Monday to create the world's biggest airline, reports the Associated Press, which also interviewed the company’s new chief executive, Doug Parker.

Tech Giants Partner on NSA Reform

Google, Facebook and other U.S. technology giants are making a joint appeal to reform government surveillance activities following a stream of disclosures about actions by the National Security Agency, the Wall Street Journal reports.

Cashing In on Bitcoin Boom

Consumers are using bitcoins at coffee shops, hotels, online stores and even, in some cases, to run their businesses. The Los Angeles Times reports that every day, dozens more firms are deciding to use the virtual currency.

Burkle Buys Jesse Owens Medal for $1.5 Million

Billionaire investor Ron Burkle bought a gold medal won by U.S. sprinter Jesse Owens at the 1936 games in Berlin for $1.47 million at auction, a record for an item of Olympic Games memorabilia, Bloomberg News reports.

10 Things You Should Know About the Global Ad Market

A forecast from Publicis Groupe's ZenithOptimedia Spin sees positive signs for advertising around the world next year, AdAge reports.

Why Wall Streeters Are Smiling About Next Year

A new survey from Thomson Reuters and Freeman Consulting Services suggests that next year will be a very good one for Wall Street professionals, CNBC reports.

Malls Crack Down on DYI Santa Photos

Kids have been photographed on Santa's lap at shopping malls for decades, but in the age of cell phone cameras, parents who snap their own sometime find malls aren't happy about it, Southern California Public Radio reports.

Stocks Rise

In Monday morning trading, the Dow Jones industrial average was up 9 points to 16,029. The Nasdaq was up 10 points to 4,073. The S&P 500 rose 4 points to 1,809

Jumping Feet First Into Future

Left Shoe’s 3-D scanner helps store’s customers step into customized fit

Footwear: Left Shoe steps up its service with a 3-D scanner process that creates a custom fit

Pickup Moves Mobile Network Into Native Ads

Advertising: Airpush purchases Hubbl to tap data-tracking technology.

Airpush makes a move in the native ad mobile market with pickup of data tracker Hubbl

Solar Business Hopes Sun Will Rise Down Under

Energy: SolarReserve digs chance to power up Australian miners.

Energy: SolarReserve sees Australian mining companies as a shining opportunity for growth.

Software Firm Sees Brain as Smart Move

Technology: BLife joins field looking to get human mind in shape

Technology: Software developers head in a new direction with products to develop people’s brains.

Document Site Deal Good on Paper to Buyer

Internet: Docstoc takes small-business focus to new parent Intuit.

Internet: Online document provider Docstoc signs paperwork to be acquired by financial software company Intuit.

Channel Flips Game Switch

TV: GSN turns to court to salvage offer for mobile bingo business.

TV: Game Show Network’s pursuit of mobile gaming company Bash ends up in court.

Date App Makes Move on Friends

Internet: Tinder gets serious about moving beyond romance.

When it launched last year, Tinder Inc. was just another dating app trying to score at local college campuses. But since then, the West Hollywood startup has vaulted into the pop culture lexicon.

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Opened House

Path to first Santa Monica B&B took five years, $2.8 million

Santa Monica welcomes its first bed-and-breakfast after a five-year struggle for the property’s owners.

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Raw Opportunity For Sushi Chef

Dining: Hiroyuki Naruke hopes to scale L.A.’s sushi scene after tsunami fallout hurt business at his Tokyo restaurant.

We’ve Got to Keep Meeting Like This

Shannon Kelly, 28, and her husband, Sean, 30, like to get together Sunday evenings to compare their busy schedules of after-work events for the week.

Finding Way

Logistics: Lane-clogging events such as the Rose Parade and transporting the space shuttle drive business for Traffic Management.

Logistics: Lane-closing events such as the Rose Parade have put traffic manager TMI on the road to success.

News of the Week

Last week’s major news from and other sources

Space Exploration Technologies Corp. launched a Falcon 9 rocket to deploy its first commercial communications satellite into an orbit high above Earth after lifting off from Cape Canaveral Air Force Station.

Grocery Wholesaler to Accent Hispanic Consumers

Marketing: Campaign by Unified Grocers to include digital element.

Unified Grocers Inc., a Commerce wholesaler serving independent grocery stores, is expanding its marketing to Hispanics, including a digital campaign.

Boutique Operator Has More in Store for This Year

Expansion: Seaside Luxe to add four resort shops before close of December.

Seaside Luxe, an operator of resort boutiques, is wrapping up the year with a rush of openings.

Dunkin’ Donuts Veteran Dips His Toe Into Coffee

Retail: John Dawson to take CEO position at Coffee Bean & Tea Leaf.

Retail: Coffee Bean & Tea Leaf serves up doughnut veteran John Dawson as its new chief executive.

New Station Exec Dialed Into Predecessor’s Plan

Radio: CBS’ Dan Kearney to maintain ad sales model, tweak K-Earth and Wave.

Radio: CBS has cued up another L.A. executive to try and cut into Clear Channel stations’ ratings.

Regional Report

News and notes from communities across Los Angeles County

Taking Off: Ducommun Inc., a Carson aerospace and defense manufacturer, has received a multiyear contract from Parker Aerospace to produce circuit board assemblies for use in the fuel management system of Airbus A350 aircraft.

Data Bank Calendar

Calendar of events

Data Bank Conventions

Upcoming conventions

Up With Downtown

Development: Billions of dollars in projects are building up L.A.’s downtown and Southern California’s economy

Rehab Hospital Plan Resuscitates Ailing Property

Lease: Deal between UCLA, Cedars marks revival of medical market.

A major lease deal co-signed by longtime medical rivals Cedars-Sinai Medical Center and UCLA Health System last week might indicate that the health care real estate market is back on track after years of uncertainty.

Friday, December 6

TSA Cancels OSI Deal for Baggage Scanners

Shares of OSI Systems Inc. fell nearly 10 percent on Friday after the company announced that the U.S. Transportation Security Administration canceled a $60 million order for its airport screening machines.

Puma, OSI Among Week’s Biggest Movers

The Los Angeles Business Journal’s index of largest local public companies closed down slightly for the week.

Stocks Gain

In Friday trading, the Dow Jones industrial average closed up 199 points, or 1 percent, to 16,020. The Nasdaq rose 29 points to 4,063. The S&P 500 rose 20 points, or 1 percent, to 1,805. The LABJ Stock Index rose more than 1 point to 176.

Riot Bars Pro Gamers From Other Titles

Under the new contract, Riot’s professional players will not be allowed to stream their gameplay of other Massive Multiplayer Online Games such as “Defense of the Ancients 2” and “World of Warcraft.”

Rubicon Reportedly Mulling IPO

The Playa Vista ad tech firm is looking to debut on the stock market next year and has hired Morgan Stanley and Goldman Sachs to lead the initial public offering, Bloomberg News reported late Thursday.

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Jobs Report Not Good Enough to End Stimulus

The November jobs report confirms the economy is improving, but not enough to push the Fed to remove the stimulus this month; that news prompted stocks to rise this morning, CNBC reports.

L.A. Accuses Wells Fargo, Citigroup of Predatory Lending

In lawsuits filed in U.S. District Court, the city of Los Angeles accused banking giants Wells Fargo & Co. and Citigroup Inc. of a “continuous pattern and practice” of mortgage discrimination, the Los Angeles Times reports.

State Health Exchange Swamped with Enrollees

California's health exchange is struggling to keep pace with a surge of applicants who are encountering long waits and website problems as they try to meet a Dec. 23 deadline, the Los Angeles Times reports.

Bitcoin Fraud Can Be Quicker Than the Law

Bitcoin — the virtual currency that has beckoned and bewildered people around the world — is ripe for fraud, in no small part because regulators don't agree on which laws apply, the New York Times reports.

Mandela Embraced Free Markets... With Responsibility

Nelson Mandela embraced free markets, but thought that "with great wealth comes great responsibility," Sir Richard Branson told CNBC as the world remembered the anti-apartheid icon.

TWC's Next CEO Ready to Sell if Price Is Right

Rob Marcus, the 48-year-old Time Warner Cable chief operating officer who becomes chief executive on Jan. 1, has a message for the company's shareholders: I’m the right guy to decide whether to sell the company, Bloomberg News reports.

Hollywood Pumps Billions into Art and Culture Economy

Hollywood leads the way in a new government report on the economic value of arts and culture, Southern California Public Radio reports.

Rush Limbaugh Moves from KFI to KTLK

Clear Channel is moving Rush Limbaugh from KFI-AM to KTLK-AM, which the chain hopes to turn into the local beacon for right-leaning chatter, the Los Angeles Times reports.

House of Props Close

House of Props, one of L.A.’s oldest prop houses, closed its doors on North Gower Street this week with little warning, the Los Angeles Times reports.

Fast-Food Workers Rally for Higher Wages

Fast-food workers, union organizers and community supporters rallied nationwide for higher pay on Thursday as the restaurant industry disputed the organizers' facts, the Los Angeles Times reports.

The Politics Behind the National Film Registry

Think your movie is an American treasure? So did 25 best picture winners still excluded from the National Film Registry by the National Film Preservation Board, the Hollywood Reporter says.

Stocks Rebound

In Friday morning trading, the Dow Jones industrial average was up 141 points, or 1 percent, to 15,963. The Nasdaq rose 22 points to 4,055. The S&P 500 rose 15 points, or 1 percent, to 1,800.

Thursday, December 5

Drug Trials Boost Puma Stock

Shares of Puma Biotechnology Inc. surged 68 percent on Thursday after the cancer drug developer previewed clinical trial results from its lead drug candidate.

ATK to Consolidate Local Operations

The defense electronics system division of Alliant Techsystems Inc. will begin relocating from Woodland Hills to Northridge at the end of the month.

Earnings Roundup: UTi, Guess, Korn-Ferry

UTi Worldwide Inc. fell to a loss in its fiscal third quarter, largely due to higher expenses, but its adjusted earnings met Wall Street expectations. Guess Inc.reported lower fiscal third quarter earnings and cut its full-year revenue forecast. Korn/Ferry International's fiscal second-quarter net income beat analyst expectations, boosted by growth in the staffing company's leadership and talent consulting business.

Stocks Decline

In Thursday trading, the Dow Jones industrial average closed down 68 points to 15,822. The Nasdaq fell 5 points to 4,033. The S&P 500 fell 8 points to 1,785. The LABJ Stock Index fell less than 1 point to 175. Raises $3 Million to Issue Credit Cards

The round was led by QED Investors, the private fund of Capital One co-founder Nigel Morris.

Virtual Piggy Rebrands to Lure Teens

Oink offers kids a secure, credit card-free way to make online purchases at partnered e-commerce sites such as Toys R Us and Gamestop.

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Forecast: State's Economy Continues Uneven Recovery

The latest UCLA Anderson Forecast says California continues to be a story of two economies: coastal regions with healthy job growth and inland areas that are still struggling to recover, the Los Angeles Times reports.

Bullet Train Hits Another Snag

In another key setback to the California bullet train project, federal regulators have rejected the state's request to exempt a large Central Valley segment of proposed track from a lengthy planning review, the Los Angeles Times reports.

SCAG: Poverty on the Rise throughout Southland

The Southern California Association of Governments says poverty is ramping up in Southern California and has risen significantly over the last two decades, the Los Angeles Daily News reports.

Banks Get Setback on Volcker

In a defeat for Wall Street, the "Volcker rule" won't allow banks to enter trades designed to protect against losses held in a broad portfolio of assets, a practice known as portfolio hedging, the Wall Street Journal reports.

Internet Firms Step Up Efforts to Stop Spying

Microsoft on Thursday becomes the latest company to announce new efforts to try to protect its data from its own government, the New York Times reports.

Detroit Bankruptcy Ruling Felt in California

A U.S. judge's ruling in Detroit's bankruptcy case could affect the bankrupt city of San Bernardino, which is in mediation with its largest creditor, the California Public Employees' Retirement System, over its pension obligations, Southern California Public Radio reports.

Palm Springs Airport Gains Wider Fan Base

Palm Springs International Airport, a onetime military base, has become one of the fastest-growing commercial airports in the West and an increasingly popular alternative to larger, more congested aviation hubs, the Los Angeles Times reports.

Report: Bruckheimer Nears Deal at Paramount

Jerry Bruckheimer, producer of blockbusters from “Pirates of the Caribbean” to “Top Gun,” has all but closed a deal to make movies for Paramount when his deal at Disney expires next year, the Wrap reports.

Whimsic Alley, Warner Bros. Settle 'Potter' Lawsuit

Whimsic Alley, the Miracle Mile shop that sells "Harry Potter" merchandise and was sued by Warner Bros. for trademark infringement, has reached a settlement with the studio that will allow the store to remain open, the Los Angeles Times reports.

Fred Sands Won't Quit Real Estate

Fred Sands, whose name once was posted on for-sale signs on houses all over L.A.'s affluent Westside, quit selling homes more than a decade ago. He has since quietly built another real estate empire, the Los Angeles Times reports.

Raul Martinez Sr., Founder of King Taco, Dies

Raul Martinez Sr., founder of the King Taco chain, one of the original Los Angeles Mexican fast food restaurants, has died at the age of 71, the Los Angeles Times reports.

Ad Industry Mounts Vigorous Defense of 'Native' Advertising

The advertising industry descended on a Federal Trade Commission workshop Wednesday that focused on whether publishers and advertisers are doing enough to keep consumers from mistaking so-called native ads — which are meant to closely resemble non-sponsored content — from the content itself, AdAge reports.

Markets Down

In Thursday morning trading, the Dow Jones industrial average was down 50 points to 15,840. The Nasdaq fell 8 points to 4,030. The S&P 500 fell 6 points to 1,787.

Wednesday, December 4

Coffee Bean Names New CEO, Elias Moves to Board

Coffee Bean & Tea Leaf has named John Dawson president and chief executive, replacing Mel Elias, who served in those roles for five years.

Cities Crack Down on E-Cigarettes

City councils in both Los Angeles and Long Beach have voted to restrict sales and use of electronic cigarettes.

Disney Teams Up With Chinese Firm

Walt Disney Co. has formed a joint venture with Chinese new media firm BesTV that could help the Burbank entertainment giant increase its digital distribution in China. The deal was announced Wednesday.

Suit Reveals Details of Activision Buyout Battle

Robert Kotick reportedly threatened to quit as Activision Blizzard Inc.’s chief executive unless the board accepted his vision of the buyout of most of Vivendi’s stake in the company, according to claims in a shareholder lawsuit over the deal.

Dow, S&P Fall, Nasdaq, LABJ Rise

In Wednesday trading, the Dow Jones industrial average closed down 25 points to 15,890. The Nasdaq rose 1 point to 4,038. The S&P 500 fell 2 points to 1,793. The LABJ Stock Index rose less than 1 point to 175.

Intuit to Acquire Docstoc, Document Firm Serving Small Business

Terms of the deal, which is expected to close by the end of January, were not disclosed.

SpaceX Launches Its First Commercial Satellite

Hawthorne's Space Exploration Technologies Corp. successfully launched its first commercial satellite on Tuesday, establishing itself as a low-cost alternative to aerospace companies backed by U.S. and foreign governments, the Wall Street Journal reports.

Southland Home Buyers Shifting to Condos

Changing cultural attitudes and skyrocketing home prices on Southern California have boosted demand for condominiums this year, the Los Angeles Times reports.

Detroit's Next Bankruptcy Battle

A federal judge's ruling approving the largest municipal bankruptcy in U.S. history Tuesday sets the stage for an epic legal battle over who will pick up the tab, including bond investors, retired city workers, state taxpayers or bankers, CNBC reports.

Illinois Trims Pensions in a Deal That Could Spread

The decision to reduce retiree benefits and raise state contributions in Illinois, a state with a strong labor movement that had successfully resisted previous reform efforts, could provide a template for agreements elsewhere, the New York Times reports.

EU Fines Banks over Rate-Rigging

The European Commission has fined eight banks the equivalent of $2.3 billion for forming illegal cartels to rig interest rates, Bloomberg News reports.

'Fast & Furious' Producers Consider Starting Over

The producers of “Fast & Furious 7” are considering scrapping what they’ve already done on the film and starting over after Paul Walker’s death, the Wrap reports.

First Der Wienerschnitzel Named a Landmark

The L.A. City Council on Tuesday added a nondescript, flat-roofed drive-through — the first of the more than 350 opened by the Wienerschnitzel chain — to its registry of historic-cultural monuments, the Los Angeles Times reports.

Pixar vs. Disney Animation: A Tricky Tug-of-War

"Frozen's" success shows the house that Walt built can compete with a sibling rival that is enduring layoffs and criticism of its sequel strategy, the Hollywood Reporter says.

Private Employers Step Up Hiring as Trade Deficit Narrows

U.S. companies hired more workers than expected last month, suggesting the labor market was improving enough for the Federal Reserve to start trimming its bond purchases, Reuters reports.

Walt Disney’s Chicago Birthplace to Become a Private Museum

The on-again-off-again campaign to turn Walt Disney’s Chicago birthplace into an attraction has taken an unexpected new turn, the New York Times reports.

Vintage Row Keeps Period Shows Rolling

A cluster of shops selling vintage clothing in Burbank is a treasure trove for set decorators, costume designers and prop masters of shows that include AMC's "Mad Men" and Showtime's "Masters of Sex." the Los Angeles Times reports.

Shares of Bankrupt Airline Go Sky High

As American Airlines prepares to close a merger with US Airways Group, a small group of investors who bet on it when it was flying low are poised to reap one of the biggest bankruptcy windfalls in years due to a quirk in the deal, the Wall Street Journal reports.

Newsweek Plans Return to Print

Newsweek, the struggling weekly magazine that ceased print publication last year, plans to turn the presses back on early next year, the New York Times reports.

Vegas Mall Modeled on Grand Bazaar

Las Vegas, where the only design rule seems to be that everything must mirror something else, is getting a new mall modeled on Istanbul's Grand Bazaar, the Associated Press reports.

Is a Peanut Butter Pop-Tart Really an Innovation?

Next time your boss starts droning on about innovation, it might be helpful to stop and analyze: Is she talking about building the next iPod or the next Pop-Tart, the Wall Street Journal reports.

Markets Up

In Wednesday morning trading, the Dow Jones industrial average was up 21 points to 15,936. The Nasdaq rose 8 points to 4,045. The S&P 500 rose 2 points to 1,797.

Tuesday, December 3

Startup Releases Software to Exercise Your Mind

The Santa Monica startup has released what it describes as a "personal fitness program for the mind." It was built as a Web app for computers, with an iPhone app set to be released next year.

Belgian Court Rules in Herbalife’s Favor

Shares of Herbalife Ltd. rose on Tuesday after an appeals court in Belgium handed the Los Angeles supplements company a victory in its battle against charges it runs an unlawful pyramid scheme.

Burbank Airport Scales Back Development Plan

The Burbank-Glendale-Pasadena Airport Authority has decided to limit the commercial development of 58 acres of land that it owns adjacent to the Burbank Bob Hope Airport.

Maguire Aviation Gives Up Van Nuys Airport Leases

The Los Angeles Board of Airport Commissioners has approved the transfer of property leases at Van Nuys Airport from Robert Maguire's Maguire Aviation to Signature Flight Support.

Ducommun Wins Subcontract for Airbus A350

hares of Ducommun Inc. rose 4 percent on Tuesday after the Carson aerospace contractor said it won a multiyear contract to make complex printed circuit board assemblies for the fuel management system of the Airbus A350 jetliner.

Markets Slide

In Tuesday trading, the Dow Jones industrial average closed down 94 points to 15,915. The Nasdaq fell 8 points to 4,037. The S&P 500 fell 6 points to 1,795. The LABJ Stock Index fell 1 point to 175.

Former Snapchat HQ Available to Lease

The 2,600-square-foot property known as Blu House is available for a monthly price of $6.40 per square foot.

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Changes in Spanish Talk Radio

Spanish-language radio personality 'El Mandril' has been off the air at KLAX-FM (97.9), but the Spanish Broadcasting System isn't saying why, the Los Angeles Times reports. Meanwhile, Univision Communications has unveiled a new morning radio show on KSCA-FM (101.9) in the time slot once held by Eddie "Piolin" Sotelo.

Cedars-Sinai, UCLA Team Up on Rehab Hospital

Two longtime rivals, Cedars-Sinai Medical Center and UCLA Health System, are partners in a planned 138-bed rehabilitation hospital in Century City, the Los Angeles Times reports.

New Challenges to Health Law

More than a year after the Supreme Court upheld the central provision of President Obama’s health care overhaul, a fresh wave of legal challenges to the law is playing out in courtrooms, the New York Times reports.

Insurers Offered Assistance for Losses

The Obama administration on Monday said added money would be an incentive for insurance companies to let people keep health policies canceled under national health care reform, the New York Times reports.

Tally of U.S. Banks Sinks to Record Low

The number of banking institutions in the United States has dwindled to its lowest level since at least the Great Depression, as a sluggish economy, stubbornly low interest rates and heightened regulation take their toll, the Wall Street Journal reports.

Ecstasy Overdose Adds to Death Toll at Rave Concerts

A 22-year-old's death is the third since 2006 involving Ecstasy at raves staged in San Bernardino County by promoter Insomniac, the Los Angeles Times reports. The latest fatal overdose occurred at a concert promoted by L.A. company Insomniac.

Holiday Spending Highlights U.S. Wealth Gap

Cyber Monday sales data might provide some good news after a slightly downbeat Black Friday, but one strategist tells CNBC that consumer spending this holiday season will show that the U.S. Federal Reserve's "wealth effect" simply isn't working.

Sumner Redstone Donates $20 Million to MPTF Campaign

The Sumner M. Redstone Charitable Foundation has made a $20 million gift to the Motion Picture & Television Fund’s Campaign, which provides aid to more than 15,000 entertainment industry workers and their families each year, the Hollywood Reporter says.

FCC Head Supports 'Net Neutrality'

New FCC Chairman Tom Wheeler on Monday noted that his agency should let the marketplace “evolve” before addressing whether Internet providers should be able to charge customers based on the amount of bandwidth they use, Variety reports.

New York Targets Websites Providing Leads to Payday Lenders

Government regulators in New York have sent subpoenas to 16 so-called lead generator websites, part of a broader crackdown on the payday lending industry, the New York Times reports.

China’s Students Test Highest ...

Chinese students have come out on top in an international standardized test covering mathematics, reading and science, far outscoring their U.S. counterparts who achieved below average marks in two out of three subjects, CNBC reports.

...But Americans Are the Kindest

The United States is the world's most generous nation, according to a global index of giving, as a higher proportion of Americans helped a stranger than any other country in the world, CNBC reports.

Dow, S&P Fall; Nasdaq Rises

In Tuesday morning trading, the Dow Jones industrial average was down 67 points to 15,942. The Nasdaq was up 1 point to 4,046. The S&P 500 fell 3 points to 1,798.

Monday, December 2

On Assignment Sells Unit, Makes Two Acquisitions

On Assignment Inc. on Monday said that it has completed the sale of one of its business units and made two acquisitions.

Revolution Capital Buys Wisconsin Manufacturer

Revolution Capital Group on Monday said that it has acquired Maysteel, an Allenton, Wis. maker of sheet metal products.

Dow, Nasdaq, S&P Slide, LABJ Rises

In Monday trading, the Dow Jones industrial average closed down 78 points to 16,009. The Nasdaq fell 15 points to 4,045. The S&P 500 fell 5 points to 1,801. The LABJ Stock Index rose less than 1 point to 176.

Newegg Opens First Retail Location

The e-commerce company, which primarily sells electronics, opened the retail location – attached to its warehouse – on Nov. 29, Black Friday, a day when traditional retailers typically offer big discounts.

Proposed Ballot Measure Would Boost Car Tax

A former Caltrans chief has proposed an initiative for the 2014 ballot that would more than double the state vehicle license fee to raise funds for rebuilding roads and bridges and boosting mass transit, the Los Angeles Times reports.

BofA Settles With Freddie Mac

Bank of America Corp. agreed to pay $404 million to Freddie Mac to settle claims related to bad mortgages the bank sold to the housing finance giant, the Los Angeles Times reports.

'Catching Fire,' 'Frozen' Break Box Office Records

Both Lions Gate’s "The Hunger Games: Catching Fire" and Disney’s "Frozen" beat previous Thanksgiving weekend records, the Associated Press reports, with the former taking in at least $75 million in its second weekend, and the latter with $67 million, according to studio estimates Sunday.

Dow Chemical Plans to Shed Assets

Michigan industrial giant Dow Chemical on Monday said that it would shed about $5 billion worth of assets, which the New York Times reports makes it latest large industrial group to try to streamline itself.

Silicon Beach Housing Prices Surge

The burgeoning tech community known as Silicon Beach is fueling a Westside housing grab that has enabled landlords to push sky-high rents even higher and helped send home prices above their prerecession highs, the Los Angeles Times reports.

Amazon Working on Delivery-by-Drone

Chief Executive Jeff Bezos said is preparing to deliver small packages using airborne drones, USA Today reports. The project was unveiled Sunday on the CBS show “60 Minutes;” Bezos acknowledged that crashes were a potential problem.

Hilton Increases Size of IPO

Hilton Worldwide Holdings Inc. said its initial public offering of nearly 113 million shares is expected to price between $18 and $21 a share for proceeds of up to $2.7 billion, the Wall Street Journal reports.

How Comcast Wants to Change TV Advertising

Comcast is pushing new technology it says could change the way we watch TV and the way advertisers buy time on it, the Wrap reports, with more episodes available on demand — all with the same new ads.

Protesters Target Another Local Wal-Mart

About 200 protesters demonstrated outside a Wal-Mart store in Los Angeles' Crenshaw neighborhood on Black Friday, the Los Angeles Times reports, but no arrests were made.

Stuart Sucherman Steps Aside as CEO

Stuart Sucherman announced Monday that he is stepping aside as chief executive of Sucherman Consulting Group, the influential New York firm he founded in 1985 to help entertainment executives navigate the industry, the Wrap reports. He will remain as the firm's chairman.

Making the 'In' Line at the Airport

Being selected to use the Transportation Security Administration’s so called PreCheck lines is never guaranteed, even if you meet all of TSA’s conditions. The Los Angeles Times looks at how you can improve your chances.

Dow and Nasdaq Fall; S&P Rises

In Monday morning trading, the Dow Jones industrial average was down 27 points to 16,060. The Nasdaq fell 3 points to 4,056. The S&P 500 rose 1 point to 1,807.

regional report

News and notes from communities across Los Angeles County

Planes Landed: Jet Edge International, a Van Nuys aircraft charter and management company, has added four business jets to its fleet.

Drug Developer Took Stock Before Going Public

Investment: Capricor says reverse-merger pickup about product partnership

A Beverly Hills biotech company went public late last month in a reverse merger with a struggling Northern California drug developer, but it won’t tap the public markets anytime soon.

Los Angeles on the Move

OP-ED: Fourteen-mile run around eastern part of city offers look at how streets should serve multiple users.

Luis López thinks he sees how multiple-user streets should run while jogging around eastern Los Angeles.

Taking Stand for History

Trip to Dallas’ Dealey Plaza lets 5,000 participants ‘experience’ tragedy of JFK’s assassination

History: Dan Harary details his trip to Dallas’ Dealey Plaza for the 50th anniversary of JFK’s assassination.

Newspaper Group Looks to Climb Paywall Model

Publishing: All of LANG’s local papers to charge for online access

After years of letting readers view its online news stories for free, the Los Angeles News Group is asking them to pay up.

Investment Fund Banks on Mom, Pop

Lending: High-interest loans to small businesses yield big returns.

Direct Lending Investments is doing well as it buys up high-interest loans made to mom-and-pop businesses.

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Data Bank Conventions

Upcoming Conventions

Branching Out

Live-tree firm sprouts elsewhere after billionaire buys in

Retail: Living Christmas is growing its tree rental business with a rooting interest from billionaire Mark Cuban.

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Content Creator Struggles To Turn Around Traffic

Internet: Demand looks to domain-name business and new CEO for lift.

Demand Media hopes a new CEO and the spinoff of its domain-name business will supply answers to its revenue problem.

Data Bank Calendar

Calendar of Events

Oaktree Sees Bad Loans as Good Way Into China

Investment: Firm forms joint venture with distressed asset manager.

INVESTMENT: Oaktree makes good on its plan to enter China by forming joint venture to acquire bad loans.

Note for Note

INTERVIEW: Manatt Phelps’ George Kieffer has made time for civic affairs and music while working at the law firm for four decades.

Power broker and Manatt Phelps & Phillips Partner George Kieffer makes sure to spend some of his playtime at the piano.

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Auto Shopping Website Revs Up IPO Speculation

Internet: Report of TrueCar retaining pair of investment banks fuels talk.

TrueCar is subject of speculation that it may go public.

Postal Service Must Think Outside Box

As a small-business owner and someone who relies on the Postal Service for all of my business shipping and mailing needs, I’m glad that there is finally momentum in Congress to reform the Postal Service.

Restaurants Warm to Startup Agency’s Offerings

Advertising: Enplug team grows out of live/work setup, expands interactive reach.

Advertising: Formerly mansion-housed Enplug homed in on traditional office space after its digital display business grew.

Gear Shift

TRANSPORTATION: Camp operator now trafficks in buses as Westside congestion forces parents, schools to seek alternatives

Westside traffic drove summer camp operator Erin Benfield to open a school busing business.

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Arts District Growth Attracts Campus Buyer

REAL ESTATEL: Boulevard Partners snaps up creative space in off-market deal.

Developers and investors are taking notice as the Arts District in downtown Los Angeles continues to draw the attention of creative people and businesses.

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Apparel Firm Big on Yoga

Lola Getts puts twist on Lululemon pants flap by touting plus-size wear

Lululemon’s CEO recently dissed wearers of plus-sized yoga pants, but Lola Getts rolls out the welcome mat for them.

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Focus Changes For YouTube

Internet: Networks offer stars viewership-measuring platforms

YouTube networks are building tech platforms to keep stars happy as part of a new big picture.

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Eight-Attorney Pickup Raises Firm’s Expectations

Employment: L.A. office of Hogan Lovells works to restaff after merger

Since Washington’s Hogan & Hartson merged with London’s Lovells in 2010 to form Hogan Lovells, the firm’s L.A. office has struggled to hold on to attorneys, dropping to about 20 at one point from about 50.

Addiction Website In Recovery Mode

Health Care: New owner seeks clean break from cash woes.

Addiction and recovery website TheFix seeks a fresh start after a bankruptcy filing.

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News of the Week

Last week’s major news from and other sources

President Obama’s trip to Los Angeles included a tour of Glendale production studio DreamWorks Animation SKG Inc. hosted by Chief Executive Jeffrey Katzenberg, a major campaign donor.

Typhoon Hits Close To Home

Firm with Manila office pitches in to raise funds for Philippines

Philanthropy: Bryce Maddock raises funds for typhoon-hit Philippines, where his outsourcing company has offices.

Spaced Out in the Open


The trend to ever-smaller work spaces has Charles Crumpley feeling pinched.

Days Numbered for Straight Accounting Jobs


Accounting: Donald R. Rudkin encourages future bean counters to learn how the whole business enchilada works.

Getting Back to His Roots

A quarter-century ago, David Henry began his real estate career while living in Dandora, a slum near Nairobi, Kenya.