Stories for December 2019

Tuesday, December 31

Newegg Sells Warehouse for $39 Million

Ecommerce company Newegg signed a leaseback deal for the City of Industry property.

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Friday, December 27

LAX Passenger Traffic Down 3% in November as Slide Spreads to Domestic Travel

November passenger traffic at Los Angeles International Airport fell 3% from a year earlier.

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2020 Book of Lists: Researcher's Letter

Los Angeles Business Journal Research Director Joshua Niv provides an overview of the 2020 Book of Lists directory.

2020 Book of Lists: Publisher's Letter

Los Angeles Business Journal Publisher and CEO Anna Magzanyan opens the 2020 Book of Lists.

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Taking ‘1’ for the Team

The 2020 Book of Lists Champions

The business leaders interviewed for the 2020 Book of Lists share one no-brainer connection: Their companies all finished at the top of their respective categories in our 2020 Book of Lists.

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To Your Health

Thomas Priselac keeps Cedars-Sinai focused on quality care and expanded access

As chief executive and president of Cedars-Sinai Health System, Thomas Priselac heads the largest hospital complex not just in Los Angeles County but in the Western United States.

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Long Player

Coldwell Banker veteran Jamie Duran leans into the brand’s longevity

Coldwell Banker Residential Brokerage values longevity, so it’s not surprising that the company in early 2019 turned to Jamie Duran — who has 30 years with the company — to manage its Los Angeles operations.

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Courting Success

Under Steven Lewis and Jana Lubert, Lewis Brisbois logs steady growth

Lewis Brisbois Bisgaard & Smith has been diligently growing its footprint in Los Angeles, expanding in 2019 to its 11th floor in downtown’s U.S. Bank Tower.

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Adding Up

Patrick Niemann has elevated Ernst & Young to new heights in the LA market

Ernst & Young’s presence in Los Angeles has doubled over the past decade, with a substantial 2,200 employees now packing into the Figueroa Street location.

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Wheel House

Doug Eroh and Brendan Harrington keep Longo Toyota in the driver’s seat

When Douglas Eroh took the reins as president and general manager at Longo Toyota in November 2018, he had a legacy to uphold — the dealership has been Toyota Motor North America Inc.’s top performer for more than half a century.

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Monday, December 23

2019 Fashion & Beauty Awards: Beauty Trendsetter of the Year Finalists

Custom Content by the Los Angeles Business Journal

Alchemy 43 is an aesthetics bar specializing in cosmetic microtreatments - neuromodulators (such as Botox and Dysport), fillers (like Juvederm and Restylane), micropenning and more.

2019 Fashion & Beauty Awards: Beauty Trendsetter of the Year Winner

Custom Content by the Los Angeles Business Journal

Moon Juice is the trailblazing mecca for adaptogenic beauty and wellbeing.

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2019 Fashion & Beauty Awards: Beauty Supplier of the Year Finalists

Custom Content by the Los Angeles Business Journal

Romain Gaillard was raised in Paris by parents who were early adopters of the green living movement they were exposed to in San Francisco in the late 70s.

2019 Fashion & Beauty Awards: Beauty Supplier of the Year Winner

Custom Content by the Los Angeles Business Journal

Family owned and operated since 1992, Chris Thorpe founded HCT with his wife Clare and eldest son James out of a spare room in his London home.

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2019 Fashion & Beauty Awards: Beauty Social Responsibility of the Year Finalists

Custom Content by the Los Angeles Business Journal

Beautycounter was founded by Gregg Renfrew in 2013 to create increased transparency and safety in the personal care industry.

2019 Fashion & Beauty Awards: Beauty Social Responsibility of the Year Winner

Custom Content by the Los Angeles Business Journal

Beauty Bus Foundation was founded in the memory of Melissa Marantz Nealy, whose life was cut short at the young age of 28 by a degenerative neuromuscular disease.

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2019 Fashion & Beauty Awards: Beauty Service Provider of the Year Finalists

Custom Content by the Los Angeles Business Journal

Following a successful initial career, beauty maverick Sonia Summers launched her first business, The Beauty Strategy Group in 2008 to help incubate start-up brands and help them gain distribution in prestige retail.

2019 Fashion & Beauty Awards: Beauty Service Provider of the Year Winner

Custom Content by the Los Angeles Business Journal

Established in California in 2009, HATCHBEAUTY LLC expanded to HATCHBEAUTY BRANDS in 2019 with the announcement of minority investor Lion Capital.

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2019 Fashion & Beauty Awards: Beauty Rising Brand Finalists

Custom Content by the Los Angeles Business Journal

Founded after former New Yorker and VOGUE stylist Shelby Wild relocated to Venice, California, Playa launched in 2017 with the goal of bringing natural Californian beauty and low maintenance cool to everyone, no matter the zip code.

2019 Fashion & Beauty Awards: Beauty Rising Brand Winner

Custom Content by the Los Angeles Business Journal

Kosas is a visionary collection of nourishing, skin-flattering color cosmetics.

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Montage Beverly Hills Sells for Estimated $415 Million

British company pays record per-room price for Beverly Hills property

The 201-room Montage Beverly Hills hotel has sold for an estimated $415 million.

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2019 Fashion & Beauty Awards: Beauty Made in California Finalists

Custom Content by the Los Angeles Business Journal

American International Industries has been manufacturing many of the world’s finest professional beauty products in Los Angeles since its inception over forty years ago.

2019 Fashion & Beauty Awards: Beauty Made in California Winner

Custom Content by the Los Angeles Business Journal

ESalon is reinventing the way women color their hair by creating a fully customized professional-grade home hair color that’s made-to-order and shipped directly to their doors.

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2019 Fashion & Beauty Awards: Beauty Direct to Consumer Brand of the Year Finalists

Custom Content by the Los Angeles Business Journal

City Beauty is a direct-to-consumer skincare and cosmetics brand dedicated to developing innovative products that help customers look as young as they feel.

2019 Fashion & Beauty Awards: Beauty Direct to Consumer Brand of the Year Winner

Custom Content by the Los Angeles Business Journal

Founded in 2017, Skylar is a clean, hypoallergenic, and non-toxic option for fragrance lovers and fragrance newbies alike.

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2019 Fashion & Beauty Awards: Beauty Brand of the Year Finalist

Custom Content by the Los Angeles Business Journal

ArtNaturals was born out of a desire to free beauty from high prices, toxic chemicals and all-around bad vibes.

Kennedy Wilson Raises $775 Million

Beverly Hills-based Kennedy Wilson has secured $775 million in capital commitments.

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2019 Fashion & Beauty Awards: Beauty Brand of the Year Winner

Custom Content by the Los Angeles Business Journal

Drybar is based on the simple concept of focusing on one thing and being the best at it: blowouts.

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2019 Fashion & Beauty Awards: Fashion Trendsetter of the Year Finalists

Custom Content by the Los Angeles Business Journal

Established in 2014 by Mike Amiri, the luxury menswear and womenswear brand, AMIRI, marries refined craftsmanship with the glamor of LA’s authentic skate and street culture.

2019 Fashion & Beauty Awards: Fashion Trendsetter of the Year Winner

Custom Content by the Los Angeles Business Journal

Bick Le is the CFO of Los Angeles Collective (doing business as L’Agence), a California-based clothing brand which blends the effortless LA lifestyle with Parisian influence for its unique approach to women’s fashion.

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2019 Fashion & Beauty Awards: Fashion Supplier of the Year Finalists

Custom Content by the Los Angeles Business Journal

Antex Knitting Mills is a vertical knitting, dyeing, printing and finishing company established in Los Angeles in 1973.

2019 Fashion & Beauty Awards: Fashion Supplier of the Year Winner

Custom Content by the Los Angeles Business Journal

David Foley, who has developed and managed Global Real Estate Operations for corporate functions of Real Estate Operations, Business Continuity, Security & Life Safety, and Critical Infrastructure for Brookfield Property Partners, is currently responsible for overall operations of the California Market Center (CMC), a newly acquired asset for Brookfield located in the Fashion District of downtown Los Angeles.

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2019 Fashion & Beauty Awards: Fashion Service Provider of the Year Finalists

Custom Content by the Los Angeles Business Journal

Directives West is the West Coast merchandising consulting division of The Doneger Group.

2019 Fashion & Beauty Awards: Fashion Service Provider of the Year Winner

Custom Content by the Los Angeles Business Journal

Companies in the apparel industry need more than just an accounting firm; they need a trusted advisor and partner who knows their business and understands how to help them achieve their goals.

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2019 Fashion & Beauty Awards: Fashion Rising Brand Finalists

Custom Content by the Los Angeles Business Journal

LumberUnion set out with a new formula for getting dressed with the spirit of the Pacific Northwest as inspiration.

2019 Fashion & Beauty Awards: Fashion Rising Brand Winner

Custom Content by the Los Angeles Business Journal

SITA Couture is a sustainable lifestyle apparel company based in Los Angeles.

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2019 Fashion & Beauty Awards: Fashion Made in California Finalists

Custom Content by the Los Angeles Business Journal

Beyond Yoga is a Los Angeles company that strives to share an honest message of inclusivity because the entire company and its founders want everyone to embrace who they truly are.

2019 Fashion & Beauty Awards: Fashion Made in California Winner

Custom Content by the Los Angeles Business Journal

Michael Stars was founded in 1986 with one simple premise: to make people happy.

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2019 Fashion & Beauty Awards: Fashion Direct to Consumer Finalists

Custom Content by the Los Angeles Business Journal

John Elliott is a fashion brand located in Los Angeles that designs and produces modern and aspirational apparel.

2019 Fashion & Beauty Awards: Fashion Direct to Consumer Winner

Custom Content by the Los Angeles Business Journal

It all started in the summer of 2010 when two Southern California friends – Griffin Thall and Paul Goodman – took a college graduation trip down to Costa Rica.

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2019 Fashion & Beauty Awards: Fashion Brand of the Year Finalists

Custom Content by the Los Angeles Business Journal

Alo Yoga is relentless about making the best yoga clothing in the world explicitly to inspire yogis (and yogis to be) to have more yoga in their life.

2019 Fashion & Beauty Awards: Fashion Brand of the Year Winner

Custom Content by the Los Angeles Business Journal

Fabletics is a high-performance lifestyle brand where fitness and fashion meet.

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2019 Fashion & Beauty Awards: Publisher's Letter

Custom Content by the Los Angeles Business Journal

Los Angeles is known worldwide as the land of beautiful and fashionable people

Friday, December 20

Unemployment Holds Steady in L.A. County as Hiring Surge Continues

L.A. County’s unemployment rate held steady in November for the third straight month, according to state figures.

Neuman: At the Intersection of Land and Law

Real Estate: Chamber chair looks to help homeless

Jerold “Jerry” Neuman, partner at law firm DLA Piper and chairman of the L.A. Area Chamber of Commerce, discusses the intersection of real estate and law, efforts to reduce homelessness crisis, and new directions at the Chamber of Commerce.

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Having a Ball

Lew Wolff I Wolff Urban Development

Wolff Urban Development's Lew Wolff, part owner of the Oakland A's, looks to the future.

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Renovation Plan Set for Tar Pits Site

Natural History Museum chooses Weiss/Manfredi

The La Brea Tar Pits and Page Museum are getting a facelift designed by a New York-based architecture firm.

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Atlas Capital Boosts LA Investment

NY developer adds Times plant to downtown portfolio

New York-based Atlas Capital Group, which has been betting big on downtown, has purchased the Los Angeles Times printing plant for $240 million, records show.

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Fully Entitled Sites See an Increase in Demand

Deals allow buyers to bypass lengthy approval process

Fully entitled sites are in demand because they are already approved for specific projects, giving buyers a leg-up on slow approval processes.

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New Execs at Science 37

CEO, chief commercial officer join trial company

A new leadership team is now in place at Playa Vista-based digital clinical trial company Science 37 Inc., nine months after its former chief executive and co-founder stepped back from daily operations.

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ChromaDex Steps Up Down Under

Supplement-maker gets approval in Australia

Westwood-based ChromaDex Corp. has made headway as it tries to market its only product — a nutrition supplement aimed at promoting metabolic reactions in cells — around the globe.

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Port of LA Sets Partnerships

Signs deals with Indonesian, Danish port operators

The Port of Los Angeles has pledged to collaborate with entities from Northern Europe and Indonesia on port operations, technology and more.

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Big 5 Looks to Maintain Momentum

Sporting goods retailer upbeat despite stock slump

The Big 5 Sporting Goods Corp.’s holiday sales period is off to a solid start, picking up on the momentum from merchandise margin gains achieved in the prior quarter.

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Pop Culture

Pop-up shops give a boost to area malls, especially during the holidays

Pop-up shops, once a novelty retail concept, are becoming part of the permanent landscape at local shopping centers.

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ICM Sells $150M Stake

Entertainment: PE firm Crestview buys in

ICM Partners, the Century City-based talent agency, has sold an ownership stake of roughly one-third to private equity firm Crestview Partners for $150 million.

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Rare Condo Ground Lease Sells in Brentwood

Real Estate: HOA buys complex in unusual deal

Ground leases on condo complexes are rare in Los Angeles. This Brentwood property story was unusual from the start of the ground lease to the final sale.

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LABJ Insider

A Good Look

Read this week's column from Los Angeles Business Journal Editor Scott Robson for goings-on in L.A.'s business community.

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LA Companies Prep for CES

Tech: Ring, Quibi among brands heading to Las Vegas

Although it takes place at the Las Vegas Convention Center, the 2020 Consumer Electronics Show is a key event for technology companies and startups based in Los Angeles.

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BAM Ventures Makes Its Mark

Tech: VC firm backs big and small LA startups

After several years of investing quietly, BAM Ventures is making some noise, generating headlines in November with its largest exit to date when Mid-Wilshire-based ecommerce software developer Honey Science Corp. was sold to Paypal Holdings Inc. for $4 billion.

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Back on Track?

Santa Anita works to regain trust after a year of tragedy

After enduring one of the most tumultuous seasons in Los Angeles sports history, executives at Santa Anita Park in Arcadia are hoping for a clean start on Dec. 26.

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Economic Forecast & Trends 2020: James Malone

Custom Content by the Los Angeles Business Journal

James Malone is a Senior Managing Director with Colliers International in the Greater Los Angeles region, where he oversees the firm’s strategic growth, performance and quality of client services across seven offices.

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Economic Forecast & Trends 2020: Akash Sehgal

Custom Content by the Los Angeles Business Journal

Akash Sehgal leads the Firm’s Tax Practice and has a deep expertise in multistate income and franchise tax, sales and use tax and credits and incentives.

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Economic Forecast & Trends 2020: Paul Rahimian

Custom Content by the Los Angeles Business Journal

Paul Rahimian currently manages a debt fund that provides construction financing to ground up real estate development projects on a national basis.

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Economic Forecast & Trends 2020: Claudia Lin Margolis

Custom Content by the Los Angeles Business Journal

Claudia, US-China Practice Team Leader with Lockton Insurance Brokers LLC, is dedicated to helping businesses and entrepreneurs from Asia – and especially the Greater China region (Mainland China, Hong Kong, Taiwan) – to establish a presence and succeed in the US.

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Economic Forecast & Trends 2020: Jason Grinnell

Custom Content by the Los Angeles Business Journal

Jason uses his years of experience in leading real estate transactions and financings to navigate his clients through the Los Angeles real estate market.

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Analysts Surprised by Exec Departures at Green Dot

CEO Streit and CFO leave fintech company

Green Dot Corp. founder and CEO Steve Streit will step down after 20 years at the helm.

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Economic Forecast & Trends 2020: Penny Griego

Custom Content by the Los Angeles Business Journal

After a nearly 30-year career in Broadcast Journalism, Penny Griego is now the Media Relations Specialist at L.A. Care Health Plan.

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Economic Forecast & Trends 2020: Young Cho

Custom Content by the Los Angeles Business Journal

Young Cho is Chief Analytic Officer of Bank of Hope, where he directs economic research and heads the Enterprise Modeling Analytics Group (“EMAG”), which serves as the Bank’s core analytics function.

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Economic Forecast & Trends 2020: Monica Baumann

Custom Content by the Los Angeles Business Journal

Monica Baumann is a litigator and adviser with extensive experience in the automotive industry and in consumer environmental litigation, including Proposition 65 issues.

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Economic Forecast & Trends 2020: John Baackes

Custom Content by the Los Angeles Business Journal

John Baackes is Chief Executive Officer of L.A. Care Health Plan, the nation’s largest publicly operated health plan serving over two million members.

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Thursday, December 19

Culture Genesis Acquires All Def Digital

Digital content studio Culture Genesis Inc. acquired the assets of All Def Digital, a media company founded by Russell Simmons.

Wednesday, December 18

Frontier Airlines Adds 5 Flights at Ontario Airport

In a major boost for Ontario International Airport, Frontier Airlines will add five flight routes next year.

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Stake Sells in $171 Million Koreatown Project

The sale of an equity stake in a 346-unit complex in Koreatown values the multifamily property at $171 million.

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Tuesday, December 17

RBC Nabs $7.5 Billion LA Wealth Management Team

RBC Wealth Management U.S. has snapped up a team of L.A.-based financial advisors that manages approximately $7.5 billion in assets.

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La Crescenta-Montrose Complex Sells for $35 Million

A 92-unit apartment complex in La Crescenta-Montrose sold for $34.5 million.

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Wavemaker, Launch Back Seed Round for Balloon

Wavemaker Partners and Launch co-led a $2.1 million seed funding round for software company Balloon.

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Monday, December 16

ICM Sells Stake to Private Equity Firm for $150 Million

Century City-based talent agency ICM Partners has sold a significant ownership stake to New York-based Crestview Partners.

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Friday, December 13

Christofferson Departs Role at AECOM

Law: Executive has been with the firm since 2015

Prominent Los Angeles attorney Carla Christofferson is vacating her positions as executive vice president and chief legal officer of engineering giant AECOM Dec. 16.

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2019 Special Report: Year in Review

Take a look at the people and stories that drove L.A. business in 2019.

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Downtown Boomtown

Real Estate: Demand for office and residential space accelerated DTLA’s transformation

Downtown’s transformation — from its ever-changing skyline to the increasingly trendy Arts District — picked up steam in 2019.

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Moving the Chains

Infrastructure: The Rams’ and Chargers’ new home is on track for 2020 opening

The Los Angeles Stadium and Entertainment District at Hollywood Park is on track to open in July 2020.

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Gone Hollywood

Real Estate: Hackman Capital Partners spent big to increase its portfolio of studio properties

Michael Hackman’s real estate company went Hollywood in a big way in 2019, purchasing one company and closing two large-scale sound stage purchases worth a combined $1.4 billion.

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LAX Projects Take Wing

Infrastructure: Work begins on airport’s $5.5 billion overhaul of ground access routes

The Los Angeles International Airport began work on the $5.5 billion program to improve access to the airport in 2019.

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The Toll of Tariffs

Trade: US-China dispute hammers LA and Long Beach ports, local businesses

For the ports and countless other businesses that depend on trade with China, 2019 was a year to forget.

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Open Season

Finance: Beyond Meat, Revolve Group booked seats on this year’s IPO roller coaster

In an uneven year for initial public offerings, Los Angeles companies mirrored the broader market trend in 2019.

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Write It Off

Entertainment: After battling in 2019, showdown looms for Writers Guild, agencies

Behind the scenes in Hollywood, 2019 was an even more contentious — and litigious — year than usual, especially for the Writers Guild of America.

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A Growing Concern

Cannabis: MedMen made big strides in 2019 before switching gears and cutting costs

It was a year of highs and lows for MedMen Enterprises Inc.

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Riches to Rags

Retail: The mall meltdown hit home with the startling fall of high-flyer Forever 21

In a year that saw the retail apocalypse expand significantly, the most prominent L.A. player caught up in the wave was once one of the city’s highest-flying brands.

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Parsons Departs

Engineering: After 75 years in LA, firm shifts HQ to Virginia

L.A. County lost another major corporate headquarters in 2019.

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Burger King

Food: Beyond Meat’s Ethan Brown turns up the heat after sizzling IPO

Ethan Brown once vowed that Beyond Meat Inc.’s burgers would be available at fast food drive-thru windows before his kids were old enough to drive. He’s getting his wish.

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Moving Man

Engineering: Despite a series of bold deals, AECOM’s Michael Burke is heading out

Michael Burke, chief executive and board chair of engineering and design giant AECOM, undertook a series of bold moves in 2019 aimed at boosting margins and shareholder value.

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Destination Maker

Retail: Rick Caruso entered new territory and celebrated a handful of big wins

For Rick Caruso, 2019 marked not only a new direction but also a big step forward at one local university and a sizable contribution to another.

Change Agent

Banking: City National Bank Chief Executive Kelly Coffey is making some big moves

On Feb. 1, Coffey became only the fourth chief executive in the 65-year history of City National Bank.

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Game Effort

Gaming: Riot CEO Nicolo Laurent took steps to put the game publisher back on track

For Nicolo Laurent, chief executive at West L.A.-based Riot Games Inc., 2019 brought some significant gains.

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Star Turn

Tech: Elon Musk made plenty of progress — and headlines — on multiple fronts

Elon Musk had a series of weighty accomplishments in 2019, especially with SpaceX.

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Something Wonderful

Agriculture: Stewart and Lynda Resnick unveiled a massive donation and a new product

Beverly Hills billionaires Stewart and Lynda Resnick made headlines in 2019 — and not just for their agribusiness empire.

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New Horizons

Real Estate: Developer Chris Rising charts a course beyond downtown for Rising Realty

Christopher Rising has had a busy 2019, taking the reins from Nelson Rising, renovating the Trust Building and more.

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Streaming Warrior

Entertainment: Ted Sarandos keeps Netflix at the forefront of Hollywood’s hottest sector

In a year that saw the streaming wars escalate to new heights, Netflix Inc. Chief Content Officer Ted Sarandos proved himself to be quite the general.

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Big Dealer

Finance: Upfront’s Mark Suster continued to play a leading role among LA’s VCs

Mark Suster, managing partner at Santa Monica-based Upfront Ventures Management Inc., made some big deals in 2019.

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Major Changes for AECOM

Engineering: Burke departs as CEO amid moves by activist hedge fund

An activist investor hedge fund is driving a leadership change at Century City-based AECOM, one of the largest public companies in Los Angeles.

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Guess Charts Ambitious Path

Fashion: Retailer targets $3B in revenue by 2025

Guess Inc. Chief Executive Carlos Alberini returned to the company in February after a nine-year absence with big ideas and bigger goals.

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Laugh Factory Still Brings the Funny

Entertainment: Club spawned a comedy empire

The money being made in the comedy business these days is no laughing matter. Jamie Masada attributes the Laugh Factory’s longevity to the appeal of live performance and, well, funny stuff.

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LABJ Insider

40 and Fabulous

Read this week's column from Los Angeles Business Journal Editor Scott Robson for goings-on in L.A.'s business community.

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Leonard Green Raises Megafund

Finance: Firm closes $12 billion flagship vehicle to pursue large investments

Los Angeles’ largest private equity firm by assets under management, Leonard Green & Partners, has closed two funds totaling $14.75 billion.

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Hub Lands LB Agency

Finance: Insurance broker buys HMBD

Long Beach-based HMBD Insurance Services Inc. has been acquired by Chicago-headquartered insurance giant Hub International Ltd.

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Traffic Drops Again at LA, LB Ports

Trade: Tariffs continue to take toll on imports

The ports of Long Beach and Los Angeles saw cargo traffic dip again in November.

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Power Station

Ivy Station, opening in 2020, will be a cornerstone of Culver City’s revival

Culver City’s status as one of L.A.’s hottest submarkets will get another big boost in mid-2020 when the massive Ivy Station development is scheduled to open.

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Postscript Raises $4M Seed Round

SMS marketing firm plans to expand its team in 2020

Text message marketing firm Postscript raised a $4.4 million seed round to expand its workforce and onboard new ecommerce clients.

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Software Firm X1 Making Big Moves

Idealab company staffs up and moves downtown

Pasadena-based software developer X1 Discovery Inc. is closing out 2019 with a series of big changes.

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Long Beach to Rethink Stadium Site

City seeks new plan after Angels’ Anaheim pact

Long Beach may have struck out with the Los Angeles Angels, but city officials plan to take another swing at developing the site that had been proposed for a new stadium.

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Zillow Rolls Out Home Buying Service in LA

Company joins Redfin, Opendoor in iBuying market

Zillow Group Inc., the real estate database giant, has become a Southern California real estate buyer.

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Culver City Sale Sets 2019 Record

Multifamily portfolio featuring 104 units brings $33 million

A two-building multifamily portfolio in Culver City sold for $33 million — the biggest multifamily sale in Culver City this year, according to data from CoStar Group Inc.

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Holistic Approach

Dani Solorio I Compton Health Bar

Compton Health Bar's Dani Solorio provides a relaxed atmosphere and wardrobe.

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Molina Healthcare Plans $500 Million Share Buyback

The board of Molina Healthcare Inc. authorized a stock repurchase program for up to $500 million worth of the company’s outstanding common shares.

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Boingo Lays Off 80 Employees

Westwood-based Boingo Wireless has laid off more than 16% of its workforce.

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Thursday, December 12

Andersen Secures New Downtown Space

Andersen has signed a lease for 46,000 square feet at CityNational2Cal in downtown.

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MedMen Restructuring Brings $37 Million in Savings

MedMen has received $37 million in gross cash proceeds for the sale of various businesses since Nov. 26.

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Redondo Apartment Complex Gets $75 Million Loan

A 115-unit mixed-use apartment development in Redondo Beach has received a $75 million loan.

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Rexford Acquires Two Properties for $100 Million

Real Estate: Company continues buying spree

Brentwood-based Rexford Industrial Realty continued its buying spree, acquiring two industrial facilities for $99.7 million.

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Colony Capital Pays $185 Million for Stake in DataBank

Colony Capital Inc., one of L.A.’s largest real estate investment firms, will pay $185 million for a 20% interest in data center provider DataBank.

Los Angeles World Airports to Name Interim CEO as Flint Plans Early Exit

Los Angeles World Airports is set to name its No. 2 executive as interim CEO to replace the departing Deborah Flint, who moved up her previously announced exit date.

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Wednesday, December 11

Charles Drew Receives $800,000 Grant

Charles Drew University has received an $800,000 grant from the California Endowment to help the school develop a new medical degree program and a new medical education building.

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Latino Small Business Lender Snags $8 Million Series A

Camino Financial Inc., a downtown-based fintech online lender focused on the Latino market, has raised $8 million in a Series A funding round.

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Medical Office Plaza Could Rise Across From Glendale City Hall

Glendale-based nonprofit health provider All For Health, Health For All is developing a medical office building at 517 E. Broadway.

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Tuesday, December 10

Cedars-Sinai Receives $20 Million Gift

Cedars-Sinai received a $20 million gift from the co-founder of digital navigation company Garmin to create an autoimmune disease institute.

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ProducePay Raises $205 Million Debt Financing

Glendale-based ProducePay Inc. raised a $205 million debt financing round Dec. 10.

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Monday, December 9

2019 Fashion & Beauty: Black Friday Is Still The Top Shopping Day for Retailers

Custom Content by the Los Angeles Business Journal

Despite “Black Friday” themed deals that begin well before Thanksgiving, Black Friday has not lost its luster.

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2019 Fashion & Beauty: Beauty Industry Insights from Your Partners in Recruitment

Custom Content by the Los Angeles Business Journal

As the Beauty industry continues to ride a wave of growth and investment, three key trends will drive access to top talent.

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2019 Fashion & Beauty: Personal Care Products Council Marks 125 Years of Creating a More Beautiful World

Custom Content by the Los Angeles Business Journal

Cosmetics and personal care products leaders from 17 associations representing 59 countries joined executives, innovators and other industry professionals for the Personal Care Products Council’s (PCPC) Annual Meeting earlier this year.

2019 Fashion & Beauty: Trend-Setting Fashion, Beauty, and Lifestyle Brands Attract Capital and Fuel M&A Activity in SoCal

Custom Content by the Los Angeles Business Journal

California is consistently at the forefront of lifestyle trends in the U.S. from music, art, and film to fashion and beauty.

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2019 Fashion & Beauty: United States Fashion Industry Association Releases Sixth Fashion Industry Benchmarking Study

Custom Content by the Los Angeles Business Journal

Findings show U.S. industry executives see impact of trade disputes on costs and turn cautious on five-year outlook

End of an Era for Michael’s Furniture

Panorama City retailer, known for TV ads, to close after 58 years.

Panorama City lost a retail institution earlier this month when Michael’s Furniture Warehouse closed its doors after 58 years.

Hotel Gives 14,580 Percent Gain

The Tri-Cities saw some major hotel sales in July when Pebblebrook Hotel Trust sold the Hotel Amarano Burbank for $72.9 million

Leadership Switch at Conejo Valley Chamber

NONPROFIT: Jill Lederer retires, Danielle Borja named chief executive.

For the first time in her life, Jill Lederer has put business on the back burner.

FirstLight Home Care In the Valley

Non-medical service company helps seniors and veterans.

FirstLight Home Care, an in-home health care business, opened its first center in the Valley area on Dec. 9.

Tarzana Hospital a Joint Venture

Providence St. Joseph Health System Southern California and Cedars-Sinai became the latest power couple in the Valley health care industry

Friday, December 6

West Hollywood Retail Property Sells for $36 Million

A retail property in West Hollywood sold for $36.2 million.

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Santa Monica Apartments Sell for $59 Million

Real Estate: Iconic Pico Lanai complex is ripe for redevelopment

The iconic Pico Lanai Apartments, a 174-unit complex in Santa Monica, sold for $58.6 million.

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VC Draper Moves into LA

Tech: Deal with SM firm creates Draper Goren Holm

Timothy Draper has a history of funding some of the technology sector’s most prolific startups and now the venture capitalist is bringing his money to Los Angeles.

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On Branding

Roger Sanchez I Uncomn Projects

Uncomn Projects partner Roger Sanchez predicts tastes and trends for developers.

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Cityview Finds Benefit in Opportunity Zones

Real Estate: Developer sells one project, is on the lookout for others

Century City-based Cityview sees increasing opportunity in opportunity zones. The multifamily investment management and development firm is exploring more opportunity zone properties.

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Lane Lines Up Local Operations

Real Estate: Brookfield signs tech company to support downtown sites

Workplace software platform Lane Technologies Inc. has expanded to the West Coast. The company provides technology to help building owners better connect with tenants.

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Work on Long Beach Bridge Enters Final Phase

New $1.5B Gerald Desmond span set to open in June

The end of rebuilding the Long Beach Port's Gerald Desmond Bridge is finally in sight for Century City-based AECOM’s Shimmick Construction unit and three dozen other contractors.

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AECOM Lands Two Large European Contracts

Engineering: Company secures work on rail tunnel, airport

Century City-based engineering and infrastructure firm AECOM is taking on two new European construction projects, including what will be the longest rail tunnel in the world.

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Industrial Strength: Increasing Demand, Limited Supply Sends the Warehouse Sector Soaring

Real Estate: The top 10 industrial sales of the year

With ecommerce and the promise of fast delivery, the need for industrial product has never been higher, especially in urban areas.

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Skanska to Open Office Downtown

Real Estate: Developer will build out staff of 60

Skanska is launching a commercial development office in L.A. One of its current projects is the extension of Metro’s Purple Line.

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Glendale Building Sells for $119M

Real Estate: Deal for The Griffith is latest acquisition in hot Tri-Cities market

The Griffith, a 220-unit apartment building in Glendale, has sold for $118.5 million, records show.

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LABJ INsider

A Life Saver

Read this week's column from Los Angeles Business Journal Editor Scott Robson for goings-on in L.A.'s business community.

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Sky Is the Limit for Studio One Eleven

Architecture: Firm’s designs reshaping Long Beach

Long Beach-based architecture firm Studio One Eleven is working on one of its most ambitious projects to date, one that will feature a 40-story, 426-foot-high tower.

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Prospect Fights Hostile Offer

Health Care: Prime pursues Palms medical group

Palms-based hospital and physician group Prospect Medical Holdings Inc. is facing a hostile takeover attempt from one of the biggest hospital chains in the country, Prime Healthcare Services.

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Special Report: Banking & Finance Quarterly — Q3 2019

Read about L.A.'s rapidly growing fintech ecosystem, rankings of the most profitable banks and more in the Los Angeles Business Journal's Banking & Finance Quarterly Special Report.

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Bullish on LA

Struck Capital’s Adam Struck believes the city’s startup community can rival Silicon Valley

Santa Monica-based venture capital firm Struck Capital is all-in on L.A. The firm invests in an array of industries, from lifestyle products and gaming to financial and educational technology.

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Fintech Flashpoint: L.A. Has What It Takes to Become a Financial Technology Hub

L.A. is taking its place in the booming fintech space. Read about some of the L.A. startup and venture capital ecosystem players in the Banking and Finance Quarterly special report.

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City Lifts a Freeze on Cannabis Deals

Finance: After six-month delay, agency resumes processing business licenses

After a six month freeze, Cannabis dealmaking in Los Angeles appears to have experienced a sudden thaw.

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Thursday, December 5

Riot Games Creates New Publishing Label

Riot Games announced the launch of Riot Forge, a third-party developer publishing label.

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Long Beach Airport Passenger Traffic Up 13% in October

Long Beach Airport passenger traffic rose 13% in October compared to October of last year, marking the first significant rise in passenger counts at the airport in more than a year.

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Wednesday, December 4

Key LACMA Redesign Element Is Approved

LACMA will move ahead with a dramatic redesign after the Los Angeles City Council voted unanimously to allow the new building to cross Wilshire Boulevard.

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Arrowhead Pharmaceuticals Looks to Raise $232 Million

Pasadena biotech firm Arrowhead Pharmaceuticals Inc. set an offering of 4 million shares, seeking to raise up to $232 million to fund operations and strategic investments.

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Herbalife Opens Training Center in China

Downtown-based Herbalife Nutrition Inc. has opened the first of four training centers in China for its customers and distributors.

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Tuesday, December 3

Deep 6 AI Raises $17 Million Series A

Pasadena medical software developer Deep 6 AI raised a $17 million Series A.

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ServiceTitan Acquires WaterSoftWare

Glendale-based software firm ServiceTitan acquired water treatment software developer WaterSoftWare for an undisclosed sum.

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Spotlight on Education: Why Do Students Like Online Learning?

Custom Content by the Los Angeles Business Journal

Why do students flock to the online learning environment? With over 4 million students are enrolled in online schools and universities (and that number is growing 30% per year), there are many compelling arguments for attending a cyber classroom.

Spotlight on Education: Survey Results Show More People are Applying for Executive MBA Programs

Custom Content by the Los Angeles Business Journal

The Executive MBA Council (EMBAC) announced earlier this year the results of its 2019 EMBAC Membership Program Survey, which revealed more people are applying for Executive MBA (EMBA) programs than ever before with a 31.6% increase in applications received since 2015.

Spotlight on Education: Questions Answered About the College of Business Administration at Cal Poly Pomona

Custom Content by the Los Angeles Business Journal

Here are the answers to some frequently asked questions about the College of Business Administration at Cal Poly Pomona – answered directly by the school

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Spotlight on Education: Degree Programs for All Stages of Life at University of La Verne

Custom Content by the Los Angeles Business Journal

Your professional success begins with an education designed to help you think creatively, communicate effectively, and serve your community with integrity.

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Spotlight on Education: USC’s Master of Studies in Law: Legal Knowledge to Inform Business Professionals, Improve Practice

Custom Content by the Los Angeles Business Journal

It’s no secret that today’s workplace is constantly evolving, as an increasing number of roles and responsibilities intersect with legal matters more than ever before.

Spotlight on Education: MBA Graduates See Compensation Increases and Job Promotions Throughout 2019

Custom Content by the Los Angeles Business Journal

Earlier this month, the Executive MBA Council (EMBAC) shared results of the 2019 EMBAC Student Exit Survey which revealed that Executive MBA (EMBA) graduates received a 13.5% increase in compensation – combined, both salary and bonuses – after program completion.

Monday, December 2

Geffen Donates Another $46 Million to UCLA

Entertainment mogul David Geffen donated an additional $46 million to the UCLA medical school that bears his name, the university announced Dec. 2.

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Wag Names New Chief Executive

Wag Labs Inc. said product head Garrett Smallwood has replaced Hilary Schneider as the company's chief executive.

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2019 FGPC: Letter from the Editor

Custom Content by the Los Angeles Business Journal

Some special reports are just more special than others.

2019 FGPC: Are You Prepared for Continued Growth?

Custom Content by the Los Angeles Business Journal

Businesses who attain the coveted “fastest-growing” title face a potentially daunting task – continuing that growth trajectory.

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2019 FGPC: A Look at Financing Sources for Business Expansion

Custom Content by the Los Angeles Business Journal

Most California businesses have humble beginnings.

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2019 FGPC: Growing Confidence Conflicts with Rising CyberCrime

Custom Content by the Los Angeles Business Journal

Cybercrime has become a reality for the middle market.

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2019 FGPC: Elevate Your Business with Continuing Ed Programs

Custom Content by the Los Angeles Business Journal

Learn skills you and your team can apply immediately

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