Stories for August 2016
Wednesday, August 31
Cargo in Limbo After Hanjin Stops Operations
Ships loaded with cargo were sitting directionless off the California coast Wednesday after Hanjin Shipping filed for bankruptcy and ceased operations.
Silicon Beach Report Aug. 31: Flipagram Is Shopping Itself Around to Potential Buyers
Flipagram Is Shopping Itself Around to Potential Buyers, Appetize signs deal to supply devices to Los Angeles Memorial Coliseum, CBS All Access Launches Ad-Free Option, and more.
Appetize Signs Deal to Supply Devices to Los Angeles Memorial Coliseum
Point-of-sale system manufacturer Appetize of Santa Monica has signed a deal with venue management firm Legends to outfit the Los Angeles Rams’ temporary home, the Los Angeles Memorial Coliseum, with its devices.
Hanjin Shipping Files for Bankruptcy
Hanjin Shipping Co. Ltd. filed for bankruptcy protection Wednesday after negotiations with creditors failed, sinking the seventh-largest cargo container carrier in the world and one of the largest shippers at the Port of Long Beach.
Tuesday, August 30
Silicon Beach Report Aug. 30: Washio Folds Operations Following Inability to Find Buyer
Washio folds operations following inability to find buyer, SpaceX to launch recycled rocket, Jessica Alba joins other celebrities on Apple’s new TV show, and more.
Hanjin Shipping Creditors Reject Finance Plan
Hanjin Shipping Co. Ltd., one of the largest cargo carriers at the Port of Long Beach, may be headed for bankruptcy after its creditors reportedly rejected a restructuring plan Tuesday.
Business Accelerator to Open In Watts
Watts is slated to get its first-ever business accelerator under plans announced Tuesday by the Valley Economic Development Center and a local community development organization.
Washio Folds Operations After Being Unable to Find Buyer
On-demand laundry startup Washio is washed up. The Santa Monica-based company that raised more than $16 million since its founding in 2013 announced on its website Monday that it had closed its operations and would no longer be accepting orders.
Monday, August 29
Poor Transportation System Costs Motorists $53.6 Billion Annually
California’s inadequate transportation system costs motorists a total of $53.6 billion per year in the form of congestion-related delays, crashes, and extra costs of operating a vehicle, according to a report released Monday.
Rams Boost KCBS Ratings Despite Preseason Loss to Broncos
Win or lose, the Los Angeles Rams can count on both great weather and devoted fans in Southern California.
Silicon Beach Report Aug. 29: Sneaker App GOAT Raises $5 Million
Sneaker app GOAT raises $5 million, Engage: BDR Inc. to go on $100 million acquisition spree, Gatorade running in-app tennis game on Snapchat, and more.
Hanjin Creditors Move Up Meeting on Restructuring Plan
Hanjin Shipping’s creditors have moved up their meeting to consider whether the cargo carrier’s restructuring plan is enough to prevent the company from facing bankruptcy and court receivership.
Friday, August 26
Lawsuit Targeting Composer Hans Zimmer’s ‘12 Years a Slave’ Score Dismissed
The lawsuit targeting iconic 58-year-old composer Hans Zimmer over his score for Academy Award-winning film “12 Years a Slave” has been dismissed. Plaintiff Richard Friedman voluntarily withdrew his complaint Thursday and apologized Zimmer in a letter, according to the composer’s attorneys.
Silicon Beach Report Aug. 26: Snapchat to Rollout Behavior Targeting for Advertisers
Snapchat to rollout behavior targeting for advertisers, Thrive Market making pitch to be affordable online Whole Foods, and SpaceX’s Dragon capsule splashes down in ocean.
Movers for Week Ending Aug. 26, 2016
Los Angeles-based soda company Reed’s Inc. was this week’s biggest mover, gaining 18 percent to end at $3.12. Westwood-based Puma Biotechnology Inc. was also among the week’s movers. The biopharmaceutical company gained 15 percent to end at $57.63. Los Angeles-based oil and gas company California Resources Corp. was the week’s biggest loser, dropping 20 percent to end at $10.23.
Apartments Set to Sprout Up Next to Los Angeles River
An industrial strip of Casitas Avenue in Glassell Park is about to get several hundred little homes. New York-based real estate company Pan Am Equities just purchased a 5.6 acre site there for $22 million with plans to build a 400-unit apartment complex.
Program Pushes Green Guidance
Nonprofit teaches custodians practices that translate into lower-cost maintenance.
Green Janitor Education Program pitched to building owners as means to save green.
Events Connect Downtown
Kennedy Wilson broker Justin Weiss, 35, began hosting his No Networking Allowed Young Downtown Party in 2008 for friends working in the area who were bored of networking events that felt like job interviews.
Kobe Bryant Now Aims to Score as Investor with $100 Million Fund
Kobe Bryant wants his second act to overshadow his first.
Immigrant Developer Rebuilt Life in Los Angeles
REAL ESTATE: Late exec Jona Goldrich, 88, found success with apartments.
Developer Goldrich Kest hopes to build on the legacy of late co-founder Jona Goldrich.
Macy’s Looks to Join Downtown’s Scene at Hip
RETAIL: Chain repositions store for young, educated residents; tourist shoppers.
Macy’s refashions downtown store with eye toward revitalizing chain’s prospects.
Paying Price?
DINING: Restaurants hit with lawsuit over health care surcharge.
Price-fixing lawsuit accuses high-end restaurants of cooking up health care surcharge.
A Look Ahead: What’s on the agenda for Los Angeles business in the coming week
SHIPPING: Bankruptcy of Hanjin could hurt tide of cargo at Long Beach port.
Embattled South Korean cargo container carrier Hanjin Shipping Co. Ltd. should soon know whether it will avoid bankruptcy as it approaches a Sept. 4 deadline for its $1.1 billion liquidity plan.
Hedge Fund Puts Money On Dating Site Operator
INVESTMENT: Peak6 takes controlling stake in Spark, owner of ChristianMingle.
Hedge fund Peak6 seals deal with dating site operator Spark Networks for controlling stake.
Finding Way Forward
Smart public policies primary key for boosting people out of poverty
Smart policy decisions not personal grit help lift people out of poverty, writes Chris Tilly.
Finding Way Forward
Turn to socialist solutions threatens self-reliance, high standard of living
Michael Levine fears socialist solutions to public problems will diminish Americans’ self-reliance.
Some Businesses Game for Challenge
The only constant in business is change, and companies that can adapt to both threats and opportunities are best positioned for success.
Vineyard-Winery Owner Says Time Ripe for Sale
LISTING: Barry Goldfarb seeking $12.8 million for property in Santa Clarita.
When Barry Goldfarb needs a change of scenery, he can drive a half-hour from his Bel Air home to the 90-acre Agua Dulce estate in Santa Clarita.
Conventions
Upcoming conventions
Calendar
Calendar of events
Shoemaker Hopes to Step Up Under New Owner
FOOTWEAR: Sole Society looks to global expansion as part of Camuto Group.
Online retailer Sole Society of Culver City is fashioning a bigger footprint with the help of footwear powerhouse Camuto Group.
Business Association Has Big Booster Seat to Fill
NONPROFIT: Departure of Carol Schatz leads to long list of traits for successor.
After Carol Schatz announced earlier this year that she would retire from her post as chief executive of downtown’s Central City Association, the business group’s board hired Glendale executive search firm Morris & Berger to recruit potential successor candidates.
Entertainment Firm Pulls Plug on Cable Venture
TV: Participant turns away from Pivot, axing shows, laying off division’s staff.
Jeff Skoll’s social impact entertainment company Participant Media is pivoting away from its cable television effort three years after launching.
Rights Manager Makes Case for Digital Control
INTERNET: BMG wins verdict against ISP Cox for not banning scofflaws.
Rights manager BMG’s legal victory may only court more questions about content control.
Threat of Fire Hot Topic for L.A. Cargo Movers
SHIPPING: Blue Cut blaze shutdowns didn’t last long but dry area poses risks.
Rail and freeway shutdowns by the Blue Cut Fire highlighted risks in fire- and quake-prone Los Angeles.
Marketer Helps Stars Tap Shine
Hawke Media carves niche by helping celebs launch their business ventures.
Hawke Media helps stars channel celebrity power into their business ventures.
Home-Sharing Disturbs Hotels
Hoteliers and unions team up over their reservations about home-sharing businesses.
Los Angeles Magazine May Have to Page New Owner
MEDIA: Parent Emmis may go private and sell print holdings.
Suitor for parent of Los Angeles magazine intends to break up with print publications.
Cyberattacks Click With Criminals
INTERNET: Hospital’s payout may have spurred ransom hacks.
Ransomware attack on medical center may have nursed cybercriminals’ interest in such hacks.
Thursday, August 25
Manufacturers Fear Impact of New Emissions Target
The passage this week of Senate Bill 32 to implement stricter greenhouse gas emissions standards creates uncertainty for businesses and may lead to more businesses leaving California, said Dorothy Rothrock, president of the California Manufacturers & Technology Association.
Silicon Beach Report Aug. 25: Apple Making Snapchat Clone
Apple making Snapchat clone, Hyperloop Transportation’s novel approach, and RockYou buys Fanbread.
Camuto Group Acquires Majority Stake in Shoe Company Sole Society
Online retailer Sole Society in Culver City is fashioning a bigger footprint with the help of footwear powerhouse Camuto Group in Greenwich, Conn.
Mayor Announces City Exceeding Targeted Pace for Housing Permits
Los Angeles Mayor Eric Garcetti on Thursday announced that the city has issued permits for 40,800 new housing units since he took office in July 2013, putting the city ahead of his target for 100,000 new units permitted by mid-2021.
Bijan’s Rodeo Drive Store Fetches $122 Million
Bijan’s yellow store on Rodeo Drive sold last month for $122 million, or $19,405 a square foot, to the parent company of Louis Vuitton, according to CoStar records.
Southern California Institute of Architecture to Launch New Post-Grad Programs
This fall, downtown L.A.’s Southern California Institute of Architecture (SCI-Arc) will roll out four specialized postgraduate programs aimed to groom architects for a wide range of twenty-first century careers. Hosted under the umbrella, Edge, Center for Advanced Studies in Architecture, the one-year degrees will be a Master of Science in Architectural Technologies, Master of Arts in Entertainment and Fiction, Master of Science in Design of Cities, and Master of Science in Design Theory and Pedagogy.
Hanjin to Present Restructuring Plan as Bankruptcy Deadline Nears
Embattled South Korean cargo container carrier Hanjin Shipping Co. Ltd. is expected to present a $1.1 billion liquidity plan Thursday in efforts to avoid bankruptcy.
Wednesday, August 24
Silicon Beach Report Aug. 24: Digital Domain Partners with World Surf League for 360-Degree Content
Digital Domain Partners with World Surf League for 360-degree content, Comedy Central grabs Snapchat star for TV show, and SpaceX to refurbishing rockets in Florida.
Neighborhood Integrity Initiative Submits Signatures for Ballot Measure
Backers of an initiative to curb mega-developments in Los Angeles turned in nearly 104,000 signatures to the city clerk’s office Wednesday, 67 percent more than the 62,000 needed to place the measure on next March’s ballot.
Santa Clarita Winery Estate Ripe for Purchase
When Barry Goldfarb needs a change of scenery, he can drive half an hour from his Bel Air home to Agua Dulce in Santa Clarita. The 90-acre site is more than a countryside estate; it’s L.A.’s largest vineyard and winery. The site just hit the market for $12.8 million, listed by Partners Trust Commercial brokers Dario Svidler and Robert Morton.
Hollywood Hotel Site Purchased for $16.5 Million
A Chicago-based company is joining the flood of developers building hotels in Hollywood. Oxford Capital Group recently purchased a one-story office on North Cahuenga Boulevard that it plans to replace with a seven-story luxury hotel.
Tuesday, August 23
Ports Labor Slowdown Led to Greater Air Pollution in 2015
Congestion last year at the ports of Los Angeles and Long Beach contributed to a rise in greenhouse gas emissions, port officials have reported.
Silicon Beach Report Aug. 23: STX Entertainment Acquires Virtual Reality Company Surreal
STX Entertainment acquires virtual reality company Surreal, Google Daydream to use Hulu VR content, Disney Movies Anywhere integrates with Verizon Fios, and more.
Banc of California Gets Naming Rights to New L.A. Soccer Stadium
The Los Angeles Football Club’s future 22,000-seat stadium will be called the Banc of California Stadium, according to an agreement between the soccer club and Irvine-based bank announced today.
Monday, August 22
Silicon Beach Report Aug. 22: Kobe Bryant Launches $100M Venture Capital Fund
Kobe Bryant launches $100 million venture capital fund, L.A. Dodger announces second accelerator class, and SpaceX puts first vertical rocket landed on display in Hawthorne.
Pot Fundraiser Cancelled After LAPD Objects
The groups behind a scheduled fundraiser in Hollywood this past weekend for the medical marijuana industry cancelled the event after receiving word from the Los Angeles Police Department that the event was regarded as unlawful.
Gerun Riley Named President of The Broad Foundation
The Eli and Edythe Broad Foundation has named longtime employee Gerun Riley as its president.
Setback in Cards With Rule Shift
The long-running battle between local card rooms and tribal gaming casinos has a new skirmish line: a change in an obscure state rule that could cost the local card rooms millions of dollars in revenue each year.
Kobe Bryant Launches $100M Venture Capital Fund
Kobe Bryant has launched a $100 million venture capital fund.
Friday, August 19
Movers for Week Ending August 19, 2016
Pasadena-based biotechnology company Arrowhead Pharmaceuticals was this week’s biggest mover, gaining 26 percent to end at $7.50. Hawthorne-based OSI Systems, Inc. was also among the week’s movers. The specialized electronics manufacturer gained 11 percent to end at $68.46. Santa Monica toy company Jakks Pacific Inc. was the week’s biggest loser, dropping 6 percent to end at $8.93.
Silicon Beach Report Aug. 19: L.A. Tech Wages Rising Fastest in the Nation
L.A. tech wages rising fastest in the nation, Activision runs Snapchat zombie karaoke lens, and YP hires new CEO.
Los Angeles Unemployment Falls Despite Drop in Payrolls
L.A. County’s unemployment rate fell to 4.8 percent in July, its lowest level in nearly 10 years, despite a sharp seasonal drop in employer payrolls, state figures released Friday show.
L.A. Tech Wages Rising Fastest in the Nation
Los Angeles County tech wages are growing faster than the earnings of tech employees in the nation’s other big cities, according to data from the U.S. Bureau of Labor Statistics compiled in a report by downtown real estate investment firm Jones Lang LaSalle Inc.
L.A. Has Second Highest Number of Fast Growing Businesses Last Year
Los Angeles was the city with the second highest number of fast growing private businesses in the country last year, according to the 2016 Inc. 5000 list, published by Inc. Magazine on Aug. 17.
Big Payoffs No Longer Safe Bet for Casinos
GAMING: Firm makes play for younger crowd.
Gamblit puts money on mobile titles as a means to draw millennials to casinos.
Movie Studio Turns to TV to Channel Revenue
Business Journal reviews how TV company Starz will impact film studio Lions Gate’s big picture.
Haim Saban Pins Down Media Business Busted by Ex-Wrestler’s Suit
The transformation of Spanish-language media company Univision Communications Inc. took another step last week when the company emerged as the prevailing bidder for renegade news organization Gawker Media at a bankruptcy auction.
Calendar
Calendar of events
Conventions
Upcoming conventions
Music Conservancy Cues Up Deal for Home Site
ACQUISITION: Property goes to Colburn School after rival offer rejected.
A handful of 50 sites once controlled by the Community Redevelopment Agency of the city of Los Angeles remain available, and another has just been snatched up.
What’s It Worth?
Mapping out the road to higher parking prices downtown.
Air District Works to Iron Out Rule on Forging
METALS: Officials hope to reduce odor production in Paramount, other cities.
After years of complaints by residents about odors in Paramount and other southeast Los Angeles County cities, the South Coast Air Quality Management District identified the likely source as metal forging facilities and has begun developing a rule to clamp down on emissions from these plants.
Fitness Pioneer Big on Bespoke
EXERCISE: Boutique Barry’s scales up offerings at studio.
Barry’s Bootcamp looks to step up in the boutique fitness space with added amenities.
Software Engineers Needed for Job Applications
EMPLOYMENT: Glassdoor reports wealth of openings for highly paid staffers.
Jobs website Glassdoor reports a lot of highly paid openings for software engineers.
Industrial Zone
Richard S. Ziman still likes sector’s strength, stability despite increased competition with retail, residential
Industry vet Richard Ziman discusses industrial’s strength amid retail and residential booms.
L.A. Tech Employees’ Pay Increases Pace Field
COMPENSATION: Average salary of $115,000 only 10th highest in big cities.
Los Angeles County tech wages are growing faster than the earnings of tech employees in the nation’s other big cities, according to data from the U.S. Bureau of Labor Statistics compiled in a report by downtown real estate investment firm Jones Lang LaSalle Inc.
Spaced Out
Downtown loses ground in parking cost battle
Development in downtown is driving up parking costs as spaces disappear.
A Look Ahead: What’s on the agenda for Los Angeles business in the coming week
TOURISM: Forum to look at welcome opportunities in hospitality with Rams.
Fifty million tourists are expected to pour into Los Angeles in 2020, and the Los Angeles Tourism and Convention Board (L.A. Tourism) wants to help local businesses meet those travelers’ needs.
Fish Sequel ‘Dory’ Had Right Hook for Summer
FILM: Disney came out on top in season loaded with family, animated offerings.
Fish tale “Finding Dory” helped Disney reel in the summer box-office crown.
Big Payoffs No Longer Safe Bet for Casinos
GAMBLING: Setback in cards with rule shift.
Some card rooms think they are getting a raw deal with a new state stance on third-party banking.
Skater on Board With Arty Venue
Chad Muska’s role includes serving as curator at space backed by Supra brand.
Skateboarder Chad Muska rolls into a pop-up creative space in collaboration with Supra brand.
Kitchen ‘Incubator’ Helps Concepts Avoid Heat
DINING: Unit 120 founder sees space as means for chefs to cheaply test ideas.
Alvin Cailin’s Unit 120 offers room for restaurateurs to cook up menus and business plans.
Pop Star Cues Up Student Supplies
Yoobi, Pharrell Williams’ collective team up to create products designed by kids.
School supply maker Yoobi banded together with musician Pharrell Williams on a kid-designed line.
Getting in Gear on Ferraris
Bruce Leeds waited nearly 50 years to indulge his childhood passion for Ferraris, but when he finally entered the Ferrari world, he did so with gusto.
Thursday, August 18
Silicon Beach Report Aug. 18: Amazon Producing Virtual Reality Content in Santa Monica
Amazon producing virtual and augmented reality content in Santa Monica, FreedomPop offers free WhatsApp data, and Atom Tickets expands nationally.
First Ports of Call Demolition OK’d to Make Way for New Waterfront
The Los Angeles Harbor Commission moved forward Thursday on plans for the first in a series of demolitions that will pave the way for a major overhaul of the Ports of Call waterfront district.
I-15 Reopens, Some Train Routes Still Closed in Cajon Pass
Caltrans reopened the 15 Freeway in both directions Thursday morning, two days after wildfires closed the major shipping corridor through the Cajon Pass, but some train routes were still delayed.
Wednesday, August 17
Class Action Suit Against USC Targets Faculty and Staff Retirement Plans
A federal class action filed Wednesday against USC claims the university breached its fiduciary duty to faculty and staff who participate in retirement fund programs through the school.
BNSF to Resume Train Traffic Through Cajon Pass after Fire Delay
More than 24 hours after the Blue Cut fire forced BNSF Railway to halt its cargo trains moving through the Cajon Pass, the first trains were expected to roll out again late Wednesday afternoon.
Agreement Reached on LAX Improvements
Long-awaited improvements that would include rail access at the aging and congested Los Angeles International Airport may finally be able to move forward.
Snapchat Plans to Expand New York Office to 400 Employees
Snapchat has agreed to create 396 jobs in the state of New York in exchange for tax breaks totaling up to $5 million from Empire State Development.
Silicon Beach Report Aug. 17: Gwyneth Paltrow’s Goop Is Moving to Los Angeles
Gwyneth Paltrow’s Goop is moving to Los Angeles, TeleSign Hires new chief executive, and Snapchat plans to expand New York office to 400 employees.
Tuesday, August 16
Los Angeles Water and Power Department COO Appointed as Interim General Manager
Los Angeles Department of Water and Power chief operating officer David Wright was appointed the agency’s interim general manager Tuesday by the Board of Water and Power Commissioners. He replaces Marcie Edwards, who announced her resignation earlier this month.
Silicon Beach Report Aug. 16: ChowNow Integrated with Google Search
ChowNow integrated with Google search, Content Check acquires Honest Cooking, Intel to open L.A. virtual reality studio, and more.
‘Entourage’ Actor Jerry Ferrara Sued by Sandwich Chain
A popular sandwich chain sued actor Jerry FerrarA popular sandwich chain sued actor Jerry Ferrara Tuesday in an attempt to expel the celeb from the ownership group alleging he undermined the restaurant and breached his contract. a Tuesday in an attempt to expel the celeb from the ownership group alleging he undermined the restaurant and breached his contract.
Long Beach Office Sells to Anaheim Firm for $26 Million
A steel and glass office building on the east side of Long Beach just sold for nearly $26 million, according to a source familiar with the transaction. The nearly 120,000-square-foot property called Park Tower was purchased by Anaheim-based Milan Capital Management from Bahrain-based Investcorp Bank B.S.C. The sale translates to just under $218 a square foot.
Playboy Mansion Sells for $100 Million to Twinkies Mogul
Hostess Brands co-owner Daren Metropoulos has purchased the Playboy Mansion for $100 million, he said in a statement. The deal, which allows 90-year-old Playboy Enterprises Inc. founder Hugh Hefner to spend the rest of his life living in the storied Holmby Hills estate, closed $100 million below the asking price, but likely marks a record home sale for Los Angeles.
Monday, August 15
Report: High Pay, High Demand for Software Engineers
The need for software engineers extends far beyond Silicon Beach, as businesses of all kinds work to bolster their online presence, according to a new report.
Baseball Series Engenders Home Base at Studio
Twentieth Century Fox Television’s new series “Pitch” has taken advantage of the California Film Commission’s expanded $65 million tax credit program, but it’s also giving back to the local industry. The show’s team is building out an expanded soundstage at Paramount Studios in Hollywood to create the world of Ginny Baker, the first woman to play Major League Baseball – in the drama series, anyway.
Silicon Beach Report Aug. 15: Snapchat to Acquire Search Engine App Vurb for $100M
Snapchat to acquire search engine app Vurb for $100 million, three L.A. companies bidding for Gawker Media, FireFly Games Raise $10 million, and more.
Metro Purple Line Extension Dodges Another Legal Challenge
Despite multiple efforts to halt construction on the Metro’s planned extension of the Purple Line, the project keeps chugging along.
Westwood Real Estate Firm CityView Closes $150 Million Investment Fund
Westwood urban residential real estate investment and management firm CityView announced Monday that it had closed a $150 million equity fund to invest in multifamily housing in the Western and Southwestern United States.
Friday, August 12
Downtown’s Ace Hotel Hosts Indie Film and Music Fest
Rio de Janeiro isn’t the only city with drama this summer.
Silicon Beach Report Aug. 12: LeEco Building Plant to Be Used By Faraday Future in China
LeEco building plant to be used by Faraday Future in China, Riot goes to court to stop League of Legend cheats, Arsenic raises $3 million seed round, and more.
Movers for Week Ending August 12, 2016
Culver City-based healthcare solution company NantHealth, Inc. was the week’s biggest mover, gaining 14 percent to end at $11.50. Cadiz Inc. of Los Angeles was also among the week’s movers. The land and water resource company gained 12 percent to end at $7.80. Conservative Christian broadcaster Salem Media Group Inc. in Camarillo was the week’s biggest loser, dropping 15 percent to end at $6.04.
The Port of Long Beach Reports Slight Decrease in Cargo Volume in July
Container volume at the Port of Long Beach declined by 7.7 percent in July compared to the same month in 2015.
Sales System Looks to Line Up Concession Gigs
TECHNOLOGY: Devices by Appetize aim to speed up service at sports venues.
Appetize’s point-of-sale devices aim to help venues get a line on their concession stand needs.
Merchandise Of Big Hitter Could Whiff
Dodgers fans may turn to other players while Yasiel Puig in minors.
Sales of Los Angeles Dodgers’ items may swing lower with the demotion of Yasiel Puig.
Light Maker Takes Note Of Music Stands
LEDtronics, orchestra working in concert to develop bright idea.
Milwaukee Symphony Orchestra has taken a shine to LEDtronics’ lights for music stands.
Player Scores Scholarship With E-Sports
UCLA student part of blossoming interest in ‘League of Legends.’
UCLA student Daphne Kim has made the grade as a “League of Legends” competitor.
Making Mark Against Graffiti, Trash
Steve Craig, whose Craig Realty Group operates the Citadel Outlet mall in Commerce, is mostly preoccupied with commercialism.
Where are they now?
Sites targeted for NFL stadiums now turn to other uses as Inglewood project moves forward.
The Rams’ choice of Inglewood lowered the boom on several competing stadium proposals.
Fans Back in St. Louis Take Stand on Seat Rights
FUNDING: Class action says Rams owe refunds to about 50,000 season-ticket holders.
St. Louis fans file a class action as they refuse to fold on their rights to seat licenses.
Baseball Series Engenders Home Base at Studio
TV: Fox’s ‘Pitch’ creates Paramount soundstage for drama on woman player.
Twentieth Century Fox Television’s new series “Pitch” has taken advantage of the California Film Commission’s expanded $65 million tax credit program, but it’s also giving back to the local industry.
Attorneys Shored Up Surfing for 2020 Olympics
SPORTS: Sheppard Mullin trio helped ready pastime to board Summer Games.
The International Olympic Committee announced last week that surfing would be added as a sport in the 2020 Tokyo Olympics.
Google High on Cloud with Acquisition Deal Valued at $100 Million
In a bid to compete with Amazon Web Services, Amazon Inc.’s fast-growing cloud-computing business, Google Inc. has acquired Orbitera for a reported $100 million.
Calendar
Calendar of events
Conventions
Upcoming conventions
Kickoff Time
Despite the higher costs of doing business here, Rams’ owner Stan Kroenke sees the value of being in L.A.
Olympic-Size Housing Challenge
Angelenos should look to Brazil’s favelas to see risks of loosening rules, legalizing illegal residential units.
Jeremy Bagott points to Brazil’s favelas as a warning on allowing landlords to skirt laws on residences.
Wage Hike May End Up Widening Pay Gap
Joel Epstein presents a Pasadena businessman’s plan for narrowing the wage gap.
A Look Ahead: What’s on the agenda for Los Angeles business in the coming week
POLITICS: Pot fundraiser’s organizers hope to turn up heat on L.A. city officials.
Call it a pot fundraiser – not to buy weed but to raise money to wield more clout at City Hall.
NFL’s Big Picture
Film producer and New York Giants co-owner Steve Tisch believes Rams, Los Angeles ready to play ball
Oscar-winning producer and New York Giants co-owner Steve Tisch talks how the Rams will play in Los Angeles.
App Links Up Parents, Early Education Centers
CHILD CARE: Founder of Kangarootime hopes to boost focus on children.
App Kangarootime lets parents get a jump on connecting with teachers and preschools.
Online Postage Company Adds Shipping to Bag
INTERNET: Stamps.com’s acquisitions continue to deliver for shareholders.
Stamps.com pursues package deals with the acquisition of shipping services.
Arm in Arm
MARKETING: Rams’ young stars set to take run at endorsements.
Los Angeles may prove a ripe field of endorsements for the Rams’ superstars.
Mainstay Beachfront Restaurant May Ship Out
LEASE: County pushing for major development at Gladstones’ current home.
Beachside seafood restaurant Gladstones in the Pacific Palisades might soon get washed away.
Show Blows Rams’ Horn
TV: HBO series gets up close for homecoming.
The NFL’s return to L.A. is the subject of early screen time in HBO documentary series “Hard Knocks.”
Restaurants, Bars Aim to Feast on Football Fans
DINING: Tom’s Urban at L.A. Live among eateries to serve Rams on Sunday.
There’s a new game in town, and that means more potential business for sports bars and restaurants that cater to hungry fans.
Ex-L.A. Times Reporter Delivers More Bad News
MEDIA: Pulitzer-winning journalist accuses paper of harassment, retaliation.
Lawsuit from ex-staffer attributes departure from Los Angeles Times to harassment and retaliation.
Team Tackles New Deals
FINANCE: Rams move to replace key revenue.
The Rams kick off their return without the help of long-term sponsorship deals and season-ticket holders.
Thursday, August 11
Silicon Beach Report Aug. 11: Another Snapchat Filter Causes Uproar
Another Snapchat filter causes uproar, Samsung Electronics to buy Dacor for an estimated $150 million, Flipagram announces partnership with SoundHound, and more.
U.S. Imports Rise Slightly in July
The Port of Los Angeles reported a 5 percent rise in imports in July compared with a year earlier. Overall July volumes edged down 1.6 percent due to a drop in the shipment of empty containers. Compared to the same period last year, the port’s total volumes increased 2.9 percent to 501,186 20-foot containers.
The Queen Mary Gets Royal Renovation
Millennials, ahoy! Long Beach mainstay the Queen Mary is poised for a $15 million overhaul designed to attract a young, hip crowd, a Los Angeles-based developer announced on Wednesday.
Samsung Electronics to Buy Dacor for an Estimated $150 Million
Southern Korean smartphone maker Samsung Electronics America Inc. said today that it would acquire City of Industry-based Dacor Inc., a manufacturer of luxury kitchen appliances Dacor Inc., for an undisclosed amount.
Wednesday, August 10
Driftwood Dairy Bought by Vietnam Dairy Products Corp.
El Monte-based company Driftwood Dairy, one of California’s largest processors of milk and dairy products, was snapped up Tuesday by Vietnam Dairy Products Corp., known as Vinamilk, located in Ho Chi Minh City, Vietnam.
L.A. County Aims for Long Future at Gladstones Restaurant Site
When Gladstone’s lease expires in October 2017, the Pacific Palisades beachside restaurant may be eligible to snag a four-decade lease that would encourage investors to put up millions in renovation funds.
Silicon Beach Report Aug. 10: Soylent Launches Coffee Drink
Soylent launches coffee drink, XPrize launches artificial intelligence contest, and Edmunds.com launches new Facebook and Instagram ad product.
West Adams Retail Center Built in 1924 Sells for $6.6 Million
A West Adams retail center built in 1924 sold for $6.6 million, or $295 a square foot, to a buyer who plans to convert the 22,400-square-foot site into a senior day care center.
Kitson Founder Files Lawsuit Against Former Chief Executive
The dust has yet to settle around the closing of the once trendy West Hollywood boutique Kitson, which closed its doors in December.
Tuesday, August 9
Pulitzer Winner Levels Labor Charges at Former L.A. Times Bosses
Pulitzer Prize-winning reporter Jeff Gottlieb sued the Los Angeles Times on Tuesday, claiming he resigned from the company due to “intolerable working conditions.”
L.A. Real Estate Companies Post Solid Quarterly Earnings
Ares Management revenue jumped to $304 million, Colony Capital Inc. had solid quarter ahead of merger, Aecom rebounded with earnings, and Jacobs Engineering Group Inc. held steady with revenue.
Silicon Beach Report Aug. 9: Walt Disney to Acquire Stake in MLB Streaming Platform for $1B
Walt Disney to acquire stake in MLB streaming platform for $1 billion, SpaceX Ships rocket to Texas for preliminary testing, West Hollywood’s Opinit acquired by Canadian app developer, and more.
Walt Disney to Acquire Stake in MLB Streaming Platform for $1B
Walt Disney Co. will acquire a 33 percent stake in Major League Baseball’s video streaming company, BamTech, for $1 billion.
West Hollywood’s Opinit Acquired by Canadian App Developer
West Hollywood social media curation service Opinit has agreed to be acquired by Canadian app developer Fundamental Applications Corp.
Monday, August 8
Delta’s System Failure Triggers Cancellations and Delays
Delta Air Lines Inc. said Monday it canceled hundreds of flights and delayed thousands of others due to a computer power outage.
Silicon Beach Report Aug. 8: Hulu Ends Free Viewing
Google buys Orbitera for reported $100 million, Hulu ends free viewing, shows based on 'The Voice,' 'SNL' coming to Snapchat, and more.
CIT Gives $100,000 to Latino Chamber of Commerce for Small Business Programs
CIT, parent of OneWest Bank of Irvine, announced Monday that it’s providing $100,000 to the Los Angeles Latino Chamber of Commerce for technical assistance to small businesses.
Hulu Ends Free Viewing
In a move to align itself with its paid-subscription rivals, such as Netflix and Amazon Prime, television-streaming service Hulu of Santa Monica has ended its free-to-view streaming service.
Friday, August 5
Walt Disney Imagineering Makes Cuts Post-Shanghai Opening
At a company where ‘magic’ reigns supreme, some of Walt Disney Co.’s most valuable employees may have just received pink slips.
Silicon Beach Report Aug. 5: Facebook Launches Snapchat-Like Camera
Facebook launches Snapchat-like camera, Wave VR raises to $2.5 million, Disney Channel launches short-form movies online, and more.
Movers for Week Ending August 5, 2016
Monrovia-based surgical company STAAR Surgical was this week’s biggest mover, gaining 24 percent to end at $8.48. PennyMac loan services of Westlake Village was also among the week’s movers. The financial services company gained 21 percent to end at $15.26. Los Angeles-based online advertising technology firm Rubicon Project was this week’s biggest loser, dropping 31 percent to end at $9.69.
What To Watch This Weekend: 'Suicide Squad' and 'Nine Lives'
A look at the plots of this weekend's big new movie releases from a business perspective.
LACMA Launches New Website to Chronicle Museum Makeover
The Los Angeles County Museum of Art (LACMA) launched a new website on Thursday in an effort to publicly chronicle the upcoming $600 million makeover of the Wilshire Boulevard museum. The launch of BuildingLACMA.com also marked the start of the public review portion of the project, as L.A. County moves forward with a draft Environmental Impact Report preceding construction.
Conventions
Upcoming conventions
Offices Created In Arts District
REAL ESTATE: Developers tap hipster haven for projects.
Developers hope downtown’s blossoming Arts District works as a home for office properties.
Play Maker
CEO Isaac Larian is game for more time in court to protect MGA’s line of Bratz dolls from Mattel
MGA’s Isaac Larian reveals how a dishwashing job played into his toymaking career.
Santa Monica Pickup to Drive Out Car Dealer
ACQUISITION: Storefront buyer plans to shift gears to restaurant or retail site.
Across from the chic Melisse restaurant on Wilshire Boulevard in Santa Monica, a 23,500-square-foot property just traded hands for $16 million, or $680 a square foot.
Tech Exec Switches Gears
For Will Carter there is nothing much like the mind-clearing effect of a good bike ride.
Online Video Producer’s Focus to Spotlight Parent
ENTERTAINMENT: Maker Studios’ content to support Disney brands, marketing.
YouTube video channel manager Maker Studios reframes strategy as part of Disney.
‘Experiment’ Bites Alt Food CEO
It’s all well and good to think outside the box, but when your box becomes a neighborhood blight it’s time to get conventional.
Medicare Accounts May Give Health Firm $117 Million Shot In Arm
Long Beach managed health care services provider Molina Healthcare Inc. landed $117 million worth of Medicare Advantage accounts from national health insurers Aetna Inc. and Humana Inc. last week.
Ex-Hangar Lands Tech Giant
Google sees big office space opportunity in former residence of Spruce Goose
Google advances plans to relaunch the former Spruce Goose hangar as a massive office space.
Vehicle-Sharing Service Taps Electric SUV Buzz
TRANSIT: New venture to allow customers to order rides in Tesla’s Model X.
A new vehicle-sharing service is being launched to fight traffic congestion on L.A. roads.
Business Groups Put ‘Job Killers’ in Cross Hairs
POLITICS: Legislation to extend cap-trade program among bills drawing fire.
Business groups are targeting roughly a dozen key bills still remaining in Sacramento during the closing weeks of the legislative session.
A Look Ahead: What’s on the agenda for Los Angeles business in the coming week
ENERGY: Breitburn brass could receive millions from bankruptcy judge.
Executives at Breitburn Energy Partners, an L.A. oil and gas exploration partnership that filed for bankruptcy in May, could receive tens of millions of dollars in bonuses under a proposal to be considered in U.S. Bankruptcy Court on Aug. 18.
Root of Problem
Could hair care line be washed up after class action?
Stylist Chaz Dean and direct marketer Guthy-Renker face further fallout over hair care products.
Calendar
Calendar of events
CEO of Answer Startup Questions AI’s Bad Rap
TECHNOLOGY: Sensay’s Crystal Rose sees robots helping humans connect.
Tech visionaries have long predicted that artificial intelligence, or AI, will destroy large swaths of human jobs.
Meal Replacement CEO Served Up Futile Fight
FOOD: Soylent chief’s ‘housing’ container clash par for eccentric course?
CEO of meal replacement powder Soylent may have thought too outside the box in “housing” container feud.
VR Company Gives Birth To Fight Game
Kite & Lightning turns to battling babies to nurture business plan.
Kite & Lightning hopes battling babies deliver as the VR firm’s first video game.
Firm Headed To Kickstarter For Helmets
Thousand got rolling with healthy response to biking accessory.
Bicycle helmets proved a safe bet on Kickstarter for Thousand founder Gloria Hwang.
Ex-Makeup Exec Seeing Bright Future in Shades
FASHION: Toni Ko hopes low price point fits with sunglasses.
Former makeup exec Toni Ko sees sunglasses as a ripe sector for her low price-point approach.
Car App Revs Rentals Drive
TRANSPORTATION: Skurt helps young users take wheel.
Car rental app Skurt aims to hit the brakes on fees for young drivers.
Thursday, August 4
Strike Likely Averted as Grocery Workers Reach Deal
Union officials for local grocery workers announced Thursday afternoon that they had reached a tentative contract deal with Ralphs, Vons and Albertson’s supermarkets, likely averting a strike that could have begun next week. The deal is subject to a vote of rank-and-file union workers on Monday.
Silicon Beach Report Aug. 4: Disney Launches Kid-Safe Messaging App
Disney launches kid-safe messaging app, advertisers warming up to Snapchat, and Gwyneth Paltrow and Will.i.am join Apple's TV Show.
Viacom’s Paramount-Led Film Unit Drives Strong Quarterly Earnings
Viacom Inc.’s Paramount Pictures-led film division helped the embattled company beat analyst expectations for its fiscal third quarter, the company announced Thursday. Quarterly revenues of $3.11 billion, up 1.6 percent from last year, beat Wall Street’s expected $3.01 billion.
Santa Monica Retail Site on Wilshire Sells for $16 Million
Across from the acclaimed Melisse restaurant on Wilshire Boulevard in Santa Monica, a 23,500-square-foot property just traded hands for $16 million, or about $680 a square foot.
Wednesday, August 3
Silicon Beach Report Aug. 3: Machinima Coming to Amazon Prime
Sensay raises $4.5 million, Time Warner purchases 10 percent of Hulu, Machinima coming to Amazon Prime, and more.
Tronc Reports 20 Percent Jump in Second-Quarter Net Income
In its first earnings call since launching as tronc the rebranded Chicago owner of the Los Angeles Times reported a nearly 20 percent jump in second-quarter net income on Wednesday, with expansive cost-cutting efforts to thank as the media giant looks to its digital future.
BNSF Seeks to Overturn Judge’s Decision to Halt Rail Yard’s Expansion
BNSF Railway Co. said yesterday it will appeal a judge’s decision against the company’s $500 million project to expand a rail yard at the Port of Los Angeles.
U.S. EPA Fines Two Local Operations for Hazardous Waste Storage Violations
The U.S. Environmental Protection Agency on Wednesday announced settlements with two Southern California facilities for improper handling of hazardous waste.
Tuesday, August 2
Silicon Beach Report Aug. 2: Instagram Copies Snapchat Stories
Instagram copies Snapchat Stories, RealD signs deal with China’s Wanda Cinema Line, Funny or Die cuts impact nearly a third of staff, and more.
Oprah Production Benefits from New Film and Television Tax Credits
Oprah Winfrey’s upcoming Disney film is among the 28 beneficiaries named in the latest round of California’s Film and Television tax credits, which were announced Tuesday by the California Film Commission.
Funny Or Die Cuts Impact Nearly A Third of Staff
Comedy website Funny Or Die is laying off 37 of its staffers and closing its San Mateo office as it refocuses its resources on creating content.
Monday, August 1
Trial Judge Denies Artists Request to Reconsider Royalties Decision
Several prominent artists seeking a cut of the profits from their works’ resale under a novel California law have been dealt another setback.
Silicon Beach Report Aug. 1: Petnet’s System Goes Down, Angers Customers
Petnet’s system goes down and angers customers, Technicolor to Launch virtual and augmented reality center, Virgin Galactic Gets Flight Testing License, and more.
Petnet’s System Goes Down, Angers Customers
Petnet said its third-party servers suffered an outage on Wednesday evening, temporarily disabling about 10 percent of its internet-connected pet feeders.
MWest Holdings Buys Park Wilshire for $27M
MWest Holdings of Sherman Oaks purchased the 170-unit Park Wilshire apartment in Westlake for $27.4 million and plans a $1 million renovation of the 92-year-old site near MacArthur Park.
