Stories for July 2019

Wednesday, July 31

Housing Authority Files Plans for 185-Unit Development

L.A.'s Housing Authority has filed plans to demolish a 100-unit affordable housing development and build a 185-unit development in its place.

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Dine Brands Earnings Miss Mark

Shares of Dine Brands Global Inc. fell more than 5 percent Wednesday after the company reported earnings and revenue that missed estimates.

ServiceTitan Makes Canadian Push with CUC Software Acquisition

Glendale-based software firm ServiceTitan Inc. has purchased CUC Software Inc., a Billings, Mont.-based business software firm whose customers are based largely in Canada.

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Chinese Aluminum Magnate Indicted in $2 Billion Tariff Scheme

Feds say scheme played out at ports and in Southland warehouses

Chinese billionaire and founder of one of the world’s top aluminum companies has been indicted for evading $1.8 billion in U.S. tariffs on products he shipped in through the Los Angeles and Long Beach ports and stockpiled in warehouses around Southern California.

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Seagrove Property Group Sells Ground Lease at Glendora Commons to Foreign Investor

A leasehold interest in the Glendora Commons has sold for more than $13 million.

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Tuesday, July 30

LAX Passenger Traffic Up 1% in First Half of 2019, Ontario Up 6.5%

Passenger growth at Los Angeles International Airport slowed during the first half of the year to a meager 0.9%, and lucrative international passenger traffic declined 1%. Ontario International Airport bucked the trend.

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Investors Lose Taste for Beyond Meat

The El Segundo-based company’s shares, which saw their initial price jump to more than $230 from $25 since the company's Wall Street debut three months ago, stumbled in the day following the company's July 29 earnings report to below $200.

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Coliving Club Upstart Raising Funding, Adding Locations

Hollywood-based coliving company Upstart has plans for a handful of additional locations and has begun fundraising for a $15 million Series A round.

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Public Storage Appoints Google Executive to Board

Public Storage has named Tariq Shaukat as its newest board trustee, according to a statement from the Glendale real estate investment trust.

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Stackin Raises $4 Million for Banking Platform

Venice-based Stackin Inc., a startup that offers financial planning advice via text message, has finalized a $4 million Series A raise to build out its platform and grow operations.

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Northrop Grumman's Valley Operation Secures $167 Million Contract

Northrop Grumman Corp. has received a $167 million contract from the U.S. Navy to produce Lot 8 of its advanced anti-radiation guided missile system.

Monday, July 29

Loot Crate Closes Warehouse, Lays off 150 Workers

Lincoln Heights-based retailer Loot Crate Inc., which sells subscription boxes of apparel and collectibles, closed down its Vernon warehouse and laid off the facility's 150 workers this month.

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Mid-Year Economic Forecast: Executive Outlook Holds Steady After Earlier Decline

Custom Content by the Los Angeles Business Journal

Concerned about the outlook for both the U.S. and global economies, business executives have revised expectations downward for a number of categories that impact their companies.

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Ordermark Raises $18 Million to Expand Business

Alex Canter, the heir to one of Los Angeles’ most dominant delicatessens, raised an $18 million Series B for Ordermark Inc., his online food ordering and delivery platform.

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Mid-Year Economic Forecast: CPAs Believe Complex Financial Instruments Pose Risks

Custom Content by the Los Angeles Business Journal

Financial instruments are a growing presence on company balance sheets, and business executives say more market awareness is needed to prevent another financial crisis, according to a recent survey by the American Institute of CPAs (AICPA).

Mid-Year Economic Forecast: UCLA Anderson Forecast Shares Challenges Ahead

Custom Content by the Los Angeles Business Journal

Last month, in its second report for 2019, the UCLA Anderson Forecast offered new recession predictions based on the most recent GDP data and the most recent bond market data.

Mid-Year Economic Forecast: Five Signs the Economic Forecast in SoCal is Bright

Custom Content by the Los Angeles Business Journal

If you’re a business owner, one of your main focuses is always steered toward what is happening in the economy. Whether it’s on a national, regional, or local level, the economy will have an impact on your business and your employees. Here are five signs the economic forecast in SoCal is bright.

Friday, July 26

Special Report: Real Estate Quarterly

Areas like Santa Monica and downtown have long been development hubs. In the last few years, Culver City has thrown its hat in the ring, attracting major companies like Apple Inc., Amazon.com Inc., and Google. Now, the areas surrounding those hotspots are filling in - something developers and experts attribute in part to the extension of the Los Angeles County Metropolitan Transportation Authority's Expo Line.

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LABJ INsider

Sometimes the Client is a Good Cause

Goings-on in L.A.’s business community.

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Higher Living

Thousands of high-rise residential units come online downtown

Thousands of high-rise residential units come online downtown By HANNAH MADANS Staff Reporter

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Shell Enlists AECOM

Firm will equip 200 EV stations in Netherlands

Century City-based infrastructure services firm AECOM has been chosen by Shell Retail to deliver 200 fast-charging devices for electric vehicles throughout the Netherlands, AECOM announced earlier this month. Financial terms of the deal were not disclosed.

Barrack to Step Aside as Chief Executive at Colony Capital

FINANCE: Firm announces $800M worth of investments in energy, communications

Thomas Barrack steps aside as Colony Capital makes major investments.

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The Real Estate Quarterly

Market-by-Market Highlights

Market-by-Market Highlights

All Aboard

In neighborhoods along the Expo Line, developers are racing to meet demand

Transit Projects Draw Developers

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Managing Up

Skyscraper owners spend big to attract creative companies

Skyscraper owners spend big to attract creative companies

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LA Port Project is Derailed

Shipping: $130M facility sought to speed operations

Jonathan Rosenthal takes the Port of L.A. to court over nixing new cargo yard.

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Credit Karma Expands with Culver City Office

Personal finance company Credit Karma is expanding into Culver City, joining a flurry of major tech and media companies taking up new offices in the hot submarket.

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ArtCenter College of Design Raises $124M, Exceeding Campaign Goal

The ArtCenter College of Design in Pasadena announced July 26 it raised $124 million in its fundraising campaign that closed in June, exceeding the $100 million goal set when the campaign began in 2011.

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Thursday, July 25

Edison to Issue $2.7B in New Stock with Nearly Half Going Towards Wildfire Fund

Rosemead-based Edison International announced July 25 that it will issue $2.7 billion in new stock by the end of the year as part of a $4.9 billion finance plan. Roughly half the money will go into a wildfire fund recently authorized by the state.

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SAG-AFTRA Netflix Pact Could Undercut Studios

Streamer’s deal with actors breaks with alliance

The Screen Actors Guild-American Federation of Television and Radio Artists announced July 20 that it had reached a deal on a three-year contract with Los Gatos-headquartered Netflix.

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Retail Portion of Mixed-use Burbank Complex Sells for $27 Million

Brentwood-based GPI Cos. has sold the retail portion of the Burbank Collection, a mixed-use development that houses condos as well as a Yard House restaurant, for $26.8 million to an unnamed buyer.

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LA Commissions Study for Griffith Park Tramway

The City of L.A. has commissioned a study to explore the feasibility of an aerial tram at Griffith Park.

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Chief Executive of CVB Financial to Step Down

Christopher Myers, president and chief executive officer of CVB Financial Corp., the Ontario-based parent of Citizens Business Bank, plans to retire effective March 15, 2020.

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Wednesday, July 24

Live Nation Buys Live Events Giant Ocesa

Live Nation Entertainment Inc.’s global domination of the concert promotion industry grew dramatically July 24 as the Beverly Hills company announced it acquired a controlling interest in Mexico City-based Ocesa Entretenimiento.

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Coffee Bean & Tea Leaf Acquired by Philippine Restaurant Group Jollibee

The struggling Los Angeles-based chain Coffee Bean & Tea Leaf is being purchased in a $350 million deal by the Philippine food giant Jollibee, best known locally for their drive-thru restaurants and bee mascot.

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Startup FanDragon Designs Tech to Tackle Ticketing Fraud, Raises $12 Million

West Hollywood-based FanDragon Technologies Inc. has developed ticketing software that aims to combat fraud among ticketing service providers.

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Silicon Beach Report July 24: Bryant Stibel Backs Tile

Snap stock on the upswing; Tile gains $45 million; FanDragon raises seed round

Colony Capital to Invest Up to $500 Million in Oil Field in Central CA

Downtown real estate investment firm Colony Capital Inc. is putting an initial $320 million toward a joint venture with Chatsworth-based energy exploration California Resources Corp.

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Tuesday, July 23

Dodgers Pitch $100 Million Stadium Renovation Plan

The Los Angeles Dodgers will spend $100 million in private financing to renovate Dodger Stadium. Plans include a new center field plaza.

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Ares Management Invests in Wine Club and Restaurant Group Cooper’s Hawk

Century City-based private equity firm Ares Management Corp. has invested in Cooper’s Hawk Winery & Restaurants of Illinois, a top wine club and restaurant group, taking over a minority position.

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LADWP General Manager Departs Early Following FBI Raid on Agency

Los Angeles Department of Water & Power General Manager David Wright stepped aside July 23, one day after an FBI raid on the agency’s offices seeking documents related to the botched rollout of a billing system.

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Avery Dennison Moves Higher on Q2 Results

Avery Dennison Corp. beat Wall Street estimates on earnings, sending the company’s stock up more than 4 percent.

Silicon Beach Report July 23: Revenue Rises at Snap

SpaceX resupplies International Space Station; WeRecover uses apps to treat addiction; Snap beats expectations in Q2

Snap Beats Earnings Expectations Again

Snap Inc. posted second quarter earnings today, continuing its trend of beating analyst expectations for revenue and trimming losses.

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Industrious Expands to One Colorado in Pasadena

Coworking company Industrious has partnered with ShopCore Properties on a 27,000-square-foot spot at One Colorado in Pasadena.

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Health Care Roundtable: Study Shows Short Breaks Promote a Healthier Brain

Custom Content by the Los Angeles Business Journal

In a study of healthy volunteers, National Institutes of Health researchers found that our brains may solidify the memories of new skills we just practiced a few seconds earlier by taking a short rest. The results highlight the critically important role rest may play in learning.

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Health Care Roundtable: Sleeping with Artificial Light May Cause Weight Gain

Custom Content by the Los Angeles Business Journal

Sleeping with a television or light on in the room may be a risk factor for gaining weight or developing obesity, according to scientists at the National Institutes of Health. The research, which was published last month in JAMA Internal Medicine, is the first to find an association between any exposure to artificial light at night while sleeping and weight gain in women.

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LA Care Awards $5 Million to Hire Medical Residents Amid Physician Shortage

LA Care Health Plan, a publicly operated insurance agency based in Westlake, is committing more than $5.2 million to establish 14 new residency positions at medical facilities in the region.

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Tapcart Raises $4 Million Seed Round, Led by Greycroft

Software developer Tapcart Inc., based in Santa Monica, announced it completed a $4 million seed round led by venture firm Greycroft.

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Chatbot Startup Convrg Joins Haptik

Chatbot developer Convrg is merging with Haptik, a New York-based artificial intelligence company.

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AEG Inks Deal with Toshiba for Office Equipment, Signage

Downtown-headquartered AEG has entered a “multiyear, multimillion-dollar renewal agreement” with Toshiba America Business Solutions Inc., an Irvine-headquartered company.

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Monday, July 22

Radiology Partners Raises $700 Million

El Segundo-based medical imaging firm Radiology Partners Inc. announced it raised $700 million in equity funding from Starr Investment Holdings.

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Health Care Roundtable: New Technology Provides Hope for ESRD Patients

Custom Content by the Los Angeles Business Journal

Last month at the Society for Vascular Surgery’s 2019 Vascular Annual Meeting, vascular surgeon Alexandros Mallios, M.D. of Institut Mutualiste Montsouris of Paris, France presented his two year experience performing non-surgical creation of AV fistulae utilizing the FDA cleared Ellipsys Vascular Access System from Southern California based Avenu Medical.

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Health Care Roundtable: A Holistic Approach: New Trends in Teeth Straightening

Custom Content by the Los Angeles Business Journal

Self-improvement is always a hot topic, and teeth-straightening is one health-related trend getting stoked by opposing forces.

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Silicon Beach Report July 22: Blizzard Co-Founder Departs Company

Hulu CFO leaves for Amazon; Frank Pearce retires from Blizzard; SpaceX picks hyperloop competition winner

Free Speech Coalition Executive Director Steps Down

Eric Paul Leue is stepping down as the executive director of the Free Speech Coalition, the trade group for the adult industry.

OneLegacy Buys New HQ Building in Azusa for $18 Million

Nonprofit OneLegacy purchased an office building in Azusa for $18.4 million, where it will relocate its headquarters from downtown.

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Signal Sciences Expands in Culver City

Web security firm Signal Sciences Corp. opened a new 10,000 square-foot office close to its Culver City headquarters, and now occupies roughly 20,000 square feet in L.A. County.

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HyreCar Announces Pricing of Second Stock Offering

Downtown-based digital car-sharing marketplace HyreCar Inc. announced July 19 it will sell an additional 3.5 million shares to raise capital to expand its staff and technology offerings.

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Health Care: A Roundtable Discussion

Custom Content by the Los Angeles Business Journal

Medicine has made so many advances in the past few decades. Yet, we have yet to find cures for the big health problems –cancer, heart disease, and diabetes. What will it take to get us to a cure for these health concerns?

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CUSTOM CONTENT: Diagnosing Healthcare M&A for the Rest of 2019… Healthy or Sick

Trusted Advisors

Intrepid’s Healthcare team routinely interacts with strategic buyers and private equity investors active in the sector, which gives it a unique insider’s perspective on the pulse of the market.

Friday, July 19

K-Town’s Hanmi Delays 2Q Financial Reporting Over Loan Loss Issues

Hanmi Financial Corp., parent of the $5.5 billion-in-asset Hanmi Bank, is delaying the release of its 2019 second quarter financial statement in order to review loan losses related to a “single credit relationship.”

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Silicon Beach Report July 19: HyreCar Announces Stock Offering

ZEFR sells to Vobile; HyreCar prices 3.5 million additional shares; Virgin Orbit to provide RAF launch services

Live Nation Runs Lap Around Other Promoters

Live Nation Entertainment Inc. makes more money in ticket sales from its artists' shows than the company’s top 15 global competitors combined.

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Pacoima Credit Union to Merge With Gain Federal in Burbank

Pacoima Development Federal Credit Union has announced it will merge with Gain Federal Credit Union, based in Burbank, effective July 29.

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Amgen, Allergan Launch Cancer Biosimilars in U.S. Market

Thousand Oaks-based Amgen Inc. and Allergan plc, headquartered in Dublin, Ireland, on Friday announced two biosimilar drugs for cancer treatment which the companies co-developed are now for sale in the United States.

Two Apartment Buildings in Downtown Sell for $406 Million

Daydream Apartments has purchased the Grace on Spring and the Griffin on Spring from Holland Partner Group for $406 million.

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Unemployment Steady in L.A. County as Jobs Grow, Workforce Shrinks

L.A. County’s unemployment rate held steady at 4.5% in June, the combined effect of a modest gain in jobs and several thousand people leaving the labor force.

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Special Report: Largest Public Companies

It's a wonderful world for Disney - but it's not quite as sunny for other L.A.-based businesses. The entertainment giant's gains helped drive up the market cap of L.A. County's publicly traded companies by 12% in the last 12 months, but the rest of the local market was shaky. Take a deeper look with the Business Journal's annual report on the area's largest public companies.

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Special Report: Supplier Diversity

Ensuring contractor diversity on a major infrastructure project used to be straightforward: Set a goal for the percentage of work that goes to minority-owned or women-owned businesses then find those businesses to encourage them to bid. Now, though, achieving a diverse contract base is a much more roundabout process. Under state law passed in 1996, public agencies are prohibited from showing preferences based on ethnicity or gender in awarding contracts.

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SpaceX Fuels Industry’s Rebirth

AEROSPACE: Company’s alumni launch local ventures

Alumni of SpaceX are leading a renaissance in aerospace.

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Will LA Stall Netflix Plan?

ENTERTAINMENT: Deal for Egyptian may face hurdles

Netflix Inc. may face hurdles in its quest to buy an iconic Hollywood theater.

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Community Centered

Business partnerships help Ketchum YMCA adapt to a changing downtown

The Ketchum-Downtown YMCA is adapting to changing neighborhood.

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Bill Requires SoCal Edison to Support Wildfire Fund

Energy: Customers will pay $3 billion over 15 years

New law requires Edison International to contribute to wildfire fund.

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100 Thieves Raises $35M

TECH: Series B will go toward growth, new headquarters

100 Thieves raises $35 million to fuel expansion and a new headquarters.

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Value Add

Property valuations in Los Angeles County rose by $94 billion in 2018

Assessed valuations in Los Angeles County rose by $94 billion in 2018.

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Labor Unions Gaining Momentum

Potential for actions by workers increases

Unions across several industries are poised for action as the movement gains ground.

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Office Buildings Pull in Record Sale Prices

Properties in Rancho Dominguez and Larchmont Village command top dollar per square foot

PRG Investment & Management Inc.’s sale of an office park brings top dollar.

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Demand Soars for Warehouses

Homelegance one of many companies signing new leases

Homelegance LA Inc., Punch Studio sign new leases in a hot market.

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Banks Post Mixed Results

Finance: Interest rate cuts could increase profitability

Hope Bancorp, PacWest Bancorp and Preferred Bank report earnings.

Sterling Buys Two Melrose Retail Sites

Investor spends $35 million on ‘high street’ storefronts

Sterling Organization acquires two “high street” buildings on Melrose.

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Snap Poised for Continued Growth

Snap Inc. will report second quarter 2019 earnings July 23, and analysts and shareholders expect the company’s finances to continue improving.

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The Mouse That Roared

Supersized Disney posts $99 billion gain to boost LA market cap

Walt Disney Co. posted a $99 billion gain, boosting the region’s overall market capitalization.

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Beyond Meat Inc.

Splashiest Newcomer

SPECIAL REPORT: LARGEST PUBLIC COMPANIES

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Arrowhead Pharmaceuticals Inc.

Biggest Gainer in Rank

SPECIAL REPORT: LARGEST PUBLIC COMPANIESMarket Cap: $2.51 billion

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LABJ INsider

Keeping Up with the Times — and the Y

Goings-on in L.A.’s business community.

Stamps.com Inc.

Biggest Decliner in Rank

SPECIAL REPORT: LARGEST PUBLIC COMPANIES

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Activision Blizzard Inc.

The Falling Star

SPECIAL REPORT: LARGEST PUBLIC COMPANIES

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Broadband Assets, Political Ads Drive Entravision

Media company focuses on Latino audience, boosts advertiser tech

SPECIAL REPORT: LARGEST PUBLIC COMPANIES

Walt Disney Co.

The Behemoth

SPECIAL REPORT: LARGEST PUBLIC COMPANIES

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SPECIAL DELIVERY

Lorena Camargo • Pearl Transportation & Logistics

A different approach

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Thursday, July 18

UTA Adds Sports Agents, Aims for Crossover Deals

United Talent Agency has hired LeBron James’ agent Rich Paul to run the agency’s new sports division — the latest instance of Hollywood talent agencies shifting their business models beyond entertainment industry representation.

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Deal Reached Over Automation at the Port of LA

Ending a monthslong fight over automation, the dockworkers’ union and operators of APM Terminals' Pier 400 reached a tentative agreement that provides training for workers to service the robots.

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Silicon Beach Report July 18: There’s a New Podcast Studio in Town

KPCC creates podcast venture; Hulu to carry NASA programs; Netflix pushes mobile in India

LA Outpaces California on Hotel Construction

Most of the new hotel construction and development is downtown, which has become a major tourist destination.

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Oaktree Capital Forms New Blank Check Company, Aims to Raise $175M

Downtown-based global asset management firm Oaktree Capital Group formed a “blank check company” that plans to raise $175 million. The company began trading July 18.

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East West Bank Sees Income Taxes Triple in 2Q, Profit Down 13%

Pasadena-based East West Bancorp, the largest independent bank headquartered in Southern California, saw profits fall 13% to $150 million in its second quarter compared to the same year-ago period.

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Office Building Leased to Boeing Sells for $51 Million

The 200,000-square-foot campus in El Segundo sold for $50.8 million.

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Jury Rules Against Sriracha Maker Huy Fong Foods in Supplier Dispute

A Ventura County jury found earlier this month that Irwindale-based Huy Fong broke its contract with Underwood Ranches, committing fraud by mispresenting and concealing information.

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Wednesday, July 17

Silicon Beach Report July 17: Fifth Wall Raises $500 Million Fund to Invest in Real Estate Technology

Netflix subscriptions drop; Techstars begins new LA class; Fifth Wall completes huge fund raise

Price Architects Joins Global Firm HKS

Two prominent LA architecture and design firms are combining forces. Price Architects Inc. has joined HKS Architects, the firms announced July 15.

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Cedars-Sinai $15 Million Grant Addresses Homelessness

Cedars-Sinai is contributing $15 million to address homelessness. The money will go to 108 nonprofit groups.

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Fifth Wall Raises $500 Million Fund to Invest in Tech for Real Estate Industry

Venice-based Fifth Wall Ventures has raised more than a half-billion dollars for a new fund, among the largest raised in Los Angeles.

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Tuesday, July 16

Capricor Stock Rises on Positive Results of Muscular Dystrophy Treatment

Capricor Therapeutics Inc., a Beverly Hills-based biotechnology company working on a cell-based therapy to improve the lives of boys diagnosed with a devastating form of muscular dystrophy, reported promising early findings of a clinical trial involving 20 patients.

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LA Weekly Owners Quietly Settle Dispute

A dispute between the owners of LA Weekly has quietly settled, but the alternative paper’s future remains unclear as the publication has reduced its size and cut back on distribution.

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Silicon Beach Report July 16: 100 Thieves Raises $35 Million

Casetabs nabs $3 million; 100 Thieves plans new L.A. headquarters; Mahmee finds new funding

WeWork Signs 30th LA Lease at Wilshire Courtyard

Coworking giant WeWork Cos. Inc. has signed a more-than 135,000-square-foot lease at Wilshire Courtyard in Miracle Mile — its 30th lease in the city.

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100 Thieves Raises $35 Million, Plans New Headquarters

Esports company and team manager 100 Thieves raised $35 million in a Series B round to fuel its expansion and the development of a new Los Angeles headquarters.

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B. Riley Financial Names Former Rep. Mimi Walters to Board

Woodland Hills-based financial services firm B. Riley Financial Inc. named former Republican Rep. Mimi Walters from Orange County to its nine-member board.

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Beverly Hills PE Firm Regent Buys French Cycling Company Mavic

Beverly Hills-based private equity firm Regent has purchased French cycling company Mavic from Amer Sports, a Finnish-based headquartered sporting goods company.

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Monday, July 15

L.A. County Assessed Property Valuations Pass $1.6 Trillion, Led by Inglewood’s NFL Stadium

Assessed property valuations grew 6.3% last year to $1.6 trillion, led by the NFL stadium construction in Inglewood, the county assessor’s office reported July 15.

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Sterling Organization Shells Out $35 Million for Melrose Ave. Retail Properties

Sterling Organization has acquired a two-building retail portfolio on Melrose Avenue in West Hollywood for $35 million.

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Furniture-maker Jonathan Louis Slashes Workforce

Furniture-maker Jonathan Louis has laid off workers and cut back production amid slowing demand for the wholesaler's sectional couches and other furnishings.

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Silicon Beach Report July 15: FX Plus Shut Down by Disney

FX Plus to stop service; J2 Global acquires more subsidiaries; SpaceX, NASA discover cause of rocket launch failure

MannKind Partners with GoodRx App

MannKind Corp. in Westlake Village has partnered with Santa Monica’s GoodRx, an app that allows people to see the best prices for drugs.

Food & Beverage: A Roundtable Discussion

Custom Content by the Los Angeles Business Journal

What elements are driving innovation in the food and beverage industry in 2019?

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Weekend Getaway Guide: Nine Tips to “Supercharge” Your Staycation

Custom Content by the Los Angeles Business Journal

Vacation budgets may be tight for many, but it is still possible to take a rejuvenating break.

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Weekend Getaway Guide: Local Tourism Continues to Boost the Success of L.A.

Custom Content by the Los Angeles Business Journal

Tourism accelerated Los Angeles County’s economic prosperity in 2018 as visitors pumped an all-time high $23.9 billion directly into the L.A. economy, generating a record $36.6 billion in total economic impact.

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Weekend Getaway Guide: Places to Stay in Los Angeles for that Weekend Escape

Custom Content by the Los Angeles Business Journal

In terms of things to do, Los Angeles continues buzzing with activities for the new season.

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Weekend Getaway Guide: Torrance - A Hidden Gem for Staying and Playing

Custom Content by the Los Angeles Business Journal

"All work and no play” make for a dull business trip, which is why business travelers are looking to add in some leisure time.

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Weekend Getaway Guide: Survey Finds More Will Hit the Open Road in 2019

Custom Content by the Los Angeles Business Journal

Ready to draft a catchy “Out of Office” note and set your sights on the highway?

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Friday, July 12

Kaiser Permanente Workers Could Go on Strike

Nurses, surgical technicians and other union workers at nonprofit health care provider Kaiser Permanente will vote later this month on whether to authorize a strike as contract negotiations stall.

Gov. Signs Bill Requiring Utility Customers to Pay Billions into Wildfire Fund

A bill signed into law July 12 by Gov. Gavin Newsom will require Southern California Edison customers to pay more than $3 billion toward a wildfire fund over the next 15 years.

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Fintech Firm ZestFinance Partners With Brazilian Retailer

Burbank fintech firm ZestFinance has partnered with Via Varejo, a Brazilian consumer electronics retailer.

Silicon Beach Report July 12: Behind the Scenes at Backstage Capital

Atom Tickets, Goldstar expand local business; Hulu to distribute Tastemade content; Backstage Capital targets the "underestimated"

Short-Term Draw

Office sublease market heats up as companies grow, consolidate

The sublease market is heating up as L.A. companies grow.

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FRONT ROW SEAT

Backstage Capital’s Hamilton targets startup founders with diverse backgrounds

Backstage Capital’s Hamilton targets startup founders with diverse backgrounds

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Nonprofit Execs See Significant Pay Gap

COMPENSATION: Arts leaders pull in top dollars

COMPENSATION: Arts leaders pull in top dollars

Writers, Agents Face Long Fight

ENTERTAINMENT: Dispute could last years, alter industry

ENTERTAINMENT: Dispute could last years, alter industry

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Gig Law Could Hit Truckers

SMALL BUSINESS: Cause for concern among contractors

SMALL BUSINESS: Cause for concern among contractors

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LABJ Insider

Making a Beautiful Music Space

Making a Beautiful Music Space

Fresh Funding for Metro Purple Line

INFRASTRUCTURE: Westwood subway project receives $100 million federal grant

INFRASTRUCTURE: Westwood subway project receives $100 million federal grant

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Trade Volume Declined During First Half of 2019

Shipping: Tariffs trimmed cargo at L.A., Long Beach

Shipping: Tariffs trimmed cargo at L.A., Long Beach

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Ghee Maker Raises $8M in New Funds

Food: 4th & Heart looks to upgrade operations, launch new product line

Food: 4th & Heart looks to upgrade operations, launch new product line

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Warner Sets Streaming Plan

ENTERTAINMENT: HBO Max enters growing field

ENTERTAINMENT: HBO Max enters growing field

Emmaus Life to Go Public Via Merger

Medical company developed sickle cell disease treatment

Medical company developed sickle cell disease treatment

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Cannabis Companies Plan Public Listings

Exchanges around the world compete to list US firms

Exchanges around the world compete to list US firms

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Transom Buys Hair Care Co.

Private equity firm extends flurry of recent deals

Private equity firm extends flurry of recent deals

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Live Nation Clears Hurdle to Purchase Promoter

ENTERTAINMENT: Acquisition of MCD Productions would boost company’s international expansion

EVENT PROMOTION Live Nation Entertainment’s acquisition of MCD Productions clears hurdle

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Union Bank Plaza to be Renovated

Unique location covers full city block in dense downtown

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Construction Wraps on Long Beach Center

New City Hall and port headquarters to open this month

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Rising Realty Buys Denver Office Tower

Acquisition is company’s first outside of SoCal

Acquisition is company’s first outside of SoCal

LAX Takes an Alternate Route to Reach Targets

Special Report: SUPPLIER DIVERSITY

Airport puts emphasis on small contractors, local businesses

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Small Goes Big

Special Report: SUPPLIER DIVERSITY

For major projects like the LAX people mover, smaller businesses hold the key to contractor diversity

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FEELING FIT

Carl Daikeler I Beachbody

Beachbody’s Carl Daikeler says staying fit shouldn’t be complicated

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Thursday, July 11

Marlin Equity Buys Hospitality Software Companies

Hermosa Beach private equity firm has purchased HotSchedules and Fourth, software platforms that manage labor, inventory and operations for the restaurant and hospitality industries.

Former StyleHaul Executive Indicted for Embezzlement

The former controller for digital media company StyleHaul Inc. was indicted July 9 on charges of embezzling $22 million from the now defunct Hollywood outfit.

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Cinema Prop House Signs $27 Million Lease Downtown

Omega Cinema Props Inc. has signed a 245,000-square-foot lease for an industrial facility downtown in a deal valued at $27 million.

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London Firm Takes Majority Stake in Fashion Company Reformation

Reformation, a Vernon-based sustainable fashion brand for women, sold a majority stake to London-based private equity firm Permira.

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Cadiz Shares Tumble as Bill Halting Project Passes Legislature

Shares of downtown-based water developer Cadiz Inc. tumbled July 11 after a bill moved to the governor's desk that could complicate its project to pump and transfer water from its desert aquifer to Southern California water agencies.

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Silicon Beach Report July 11: Bird Seeks More Cash as Revenue Falls

LauncherOne test successful; Lions Gate links with TF1; Bird raising additional $300 million

Cargo Volumes Down at L.A., Long Beach in First Half 2019

The ongoing trade war with China dampened volumes at the San Pedro Bay ports as imports declined 3.3% in the first half of the year compared to the same period in 2018.

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Emmaus Life Sciences to Go Public Via Merger

Privately held Emmaus Life Sciences, Inc., a Torrance-based company with a major sickle cell therapy under development, plans to go public through a reverse merger with a data analytics company in Orange County.

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Wednesday, July 10

L.A. Consumer Sentiment Slips to Four-Year Low

Los Angeles consumer confidence reached a four-year low during the second quarter as the region's consumers grew increasingly concerned about local and national business conditions, according to a survey released July 10.

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Silicon Beach Report July 10: Snap's Yellow Accelerator Welcomes New Startups

Yellow accelerator welcomes new startups; Tinder targets Asia expansion; LauncherOne schedules drop test

SoCal Marijuana Companies Plan Public Listings on U.S., Israel Exchanges

KushCo Holdings Inc. and From the Earth are planning to trade publicly.

Arizona Acquisition Adds New Market for EP Wealth Advisors

Torrance-based financial advising firm EP Wealth Advisors is expanding into the Phoenix market with the acquisition of Pathlight Investors.

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Platinum Equity Acquires Label Making Company

Beverly Hills-based Platinum Equity has purchased Cincinnati-based label-making company Multi-Color Corp.

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MedMen Gets $30 Million Bump to Credit Line, Plans More Store Openings

Gotham Green Partners is partnering with Wicklow Capital to extend $30 million in additional credit to MedMen Enterprises Inc. as the company pursues an aggressive growth strategy.

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Tuesday, July 9

Metro Purple Line Westwood Segment Awarded $100 Million Federal Grant

Federal transportation officials awarded a $100 million grant to fund the third segment of the Metro Purple Line connecting Century City with Westwood.

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Miro Signs 7K SF Lease for US Headquarters in the Arts District

Russia-based collaboration platform Miro has signed a lease for roughly 7,000 square feet at ROW DTLA in the Arts District.

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Silicon Beach Report July 9: LA County Health Services Hacked

WarnerMedia launches HBO Max; Netflix offering more Chinese content; LADHS victim of data breach

MomentFeed Chooses New Chief Executive

Santa Monica-based customer management software developer MomentFeed Inc. appointed Nick Hedges as its new chief executive July 9.

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WarnerMedia Joins Field of Streams

WarnerMedia announced July 9 the launch of HBO Max, its entry into the increasingly crowded digital streaming field.

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Transom Capital Group Buys Salon Products Business from Conair Corp.

El Segundo-based private equity firm Transom Capital Group has acquired a division of Stamford, Conn.-based Conair Corp. that makes hair-care products.

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KBS Starts $20 Million Union Bank Plaza Renovation

KBS has started a $20 million renovation on downtown’s Union Bank Plaza.

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Monday, July 8

NASA Awards SpaceX $50 Million Launch Contract

NASA awarded Hawthorne-based SpaceX a $50.3 million contract to launch three space telescopes in 2021.

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Ghee Maker 4th & Heart Raises $8 Million in Series C

Venice-based 4th & Heart, which makes butter-alternative ghee, has raised a new round of funding as it pushes to make its 'ancient food' brand a household name.

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Joan Weinstein to Lead Getty Trust Philanthropic Arm

The $10.9 billion J. Paul Getty Trust named Joan Weinstein, known for her work on the multivenue art series 'Pacific Standard Time,' to lead its philanthropic arm, the Getty Foundation.

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Silicon Beach Report July 8: 3L Capital Raises $217 Million

3L Capital gains $217 million; SpaceX Starlink rivaled by Amazon; BBC invests in Quibi

3L Capital Raises $217 Million Fund to Invest in Local Startups

Westwood-based growth equity investment firm 3L Capital announced July 8 it raised a $217 million equity fund to continue investing in local companies.

Special Report: Banking and Finance Quarterly

The number of credit unions in Los Angeles County has plummeted by nearly 60% over the past 20 years as a wave of consolidation swept through the industry. While the overall number of community lending institutions has dropped dramatically, the industry itself has grown — with membership, loans and deposits all reaching record levels.

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Special Report: L.A. By the Numbers 2019

There's been no shortage of big stories to track over the past 12 months in L.A. County. But no matter what role your business plays - from infrastructure projects to entertainment offerings, shipping logistics to tech innovation - the data here should prove invaluable. The Business Journal's annual snapshot of key economic numbers provides demographic details, population statistics, land values, income information, and much more.

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Levine Leichtman Sells Rail Operator to London PE Firm

Beverly Hills-based private equity firm Levine Leichtman Capital Partners has sold Regional Rail, a short-line railroad operator based in the Mid-Atlantic.

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Friday, July 5

Preferred Bank Plans $30 Million Stock Buyback

Downtown-based Preferred Bank announced plans to repurchase up to $30 million in stock following approval from the California Department of Business Oversight.

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Traffic Rises at Region’s Airports

TRANSPORTATION: LAX, Ontario lead monthly increase in airline travelers

TRANSPORTATION: LAX, Ontario lead monthly increase in airline travelers

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CBRE Plans to Acquire London-Based Developer

REAL ESTATE: Telford Homes to join Trammell Crow

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Immortals Answers ‘Call of Duty’

ESPORTS: Culver City firm commits to ownership of LA franchise in new league

ESPORTS: Culver City firm commits to ownership of LA franchise in new league

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Social Network Adds Funding

TECH: Startup MeWe sees 30 million users by year end

TECH: Startup MeWe sees 30 million users by year end

Aging Cars May Rev Up Local Firm

AUTOS: Aftermarket parts seller projects solid growth

AUTOS: Aftermarket parts seller projects solid growth

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Lions Gate Says No to New York

MEDIA: Studio nixes Times Square amusement center

MEDIA: Studio nixes Times Square amusement center

OpenGate Completes Acquisitions

FINANCE: Flurry of deals part of new institutional fund

FINANCE: Flurry of deals part of new institutional fund

A River Runs Through It

Development is flooding into neighborhoods along the LA River

Development is flooding into neighborhoods along the LA River

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Knotel Eyes Expansion

Company to add 250,000 square feet this year

Company to add 250,000 square feet this year

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Jamison Moves into Westside Market

Koreatown developer buys West LA location for $16M

Koreatown developer buys West LA location for $16M

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Cedars Program Attracts Innovators

Health care accelerator includes local startups

Health care accelerator includes local startups

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THE SUITE LIFE

Amina Belouizdad I The Private Suite

Amina Belouizdad, chief commercial officer of 2-year-old Private Suite at Los Angeles International Airport, jokes that she keeps bottles of Dom Perignon champagne on hand at all times “in case of emergency.”

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LA Firms Lead VidCon

Fullscreen, Snap, UTA highlight conference lineup

Fullscreen, Snap, UTA highlight conference lineup

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Getting In tune

Management and workers both benefit from unionization at KCRW, KPCC

Management and workers both benefit from unionization at KCRW, KPCC

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Stakes are High in Grocer Talks

RETAIL: Strike could hit hard for stores and union

RETAIL: Strike could hit hard for stores and union

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Developers Shift into Senior Housing

REAL ESTATE: Soaring demand drives strong returns

REAL ESTATE: Soaring demand drives strong returns

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Seeing the Big Picture

LABJ INsider

Goings-on in L.A.’s business community.

Wednesday, July 3

Lions Gate scraps plan for Times Square entertainment center

Lions Gate Entertainment Inc. has dropped plans for an indoor amusement center in New York City’s Times Square, a source close to the company confirmed July 3.

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Silicon Beach Report July 3: Riot Games IBC Award Finalist

EVConnect Backs Australian Charging Network; Riot Games Finalist for IBC Award; Faraday Future Employees Flee to Rivian

CBRE Buys London Multifamily Developer Telford Homes for $337 Million

Downtown-based CBRE Group Inc. plans to acquire Telford Homes Plc.

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Tuesday, July 2

Silicon Beach Report July 2: Upfront Ventures Finances New Fund

Boring Co. hires in Las Vegas; LightSail mission continues; Upfront finances sixth fund

CUSTOM CONTENT: Tips for a Successful Leadership Transition

Trusted Advisors

It can be hard to let go. Whether it’s your own business, or you’ve been entrusted with leading a business, you invest so much to ensure its success.

Visa Champions Female Entrepreneurs in 2019

Custom Content by the Los Angeles Business Journal

As part of its ongoing commitment to support female entrepreneurs, Visa has launched a global initiative – She’s Next, Empowered by Visa – to encourage women small business owners as they build, sustain and advance their businesses.

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NAWBO National Partners with UCLA

Custom Content by the Los Angeles Business Journal

NAWBO National Announces Special Member Rates for Access to UCLA Corporate Governance Program and Women’s Leadership Institute.

SHARE OF WOMEN WORKING IN CONSTRUCTION IS THE HIGHEST IN 20 YEARS

Custom Content by the Los Angeles Business Journal

Between 2017 and 2018, the number of women working in construction trades increased by 17.6 percent, rising to well over a quarter of a million women (276,000), according to a new analysis from the Institute for Women’s Policy Research (IWPR).

Research Shows a Women-Centered Economic Agenda Would Boost the Economy

Custom Content by the Los Angeles Business Journal

As the country prepared to hear more about the policies championed by 2020 presidential candidates in the first series of Democratic debates, the Institute for Women’s Policy Research (IWPR) released an eight-point economic agenda that compiles findings from a wide body of literature that show that prioritizing women-centered policies can boost the economy for everyone.

Number of Women-Owned Businesses Has Increased Nearly 3000% Since 1972

Custom Content by the Los Angeles Business Journal

Women started an average of 1,821 new businesses per day in the U.S. between 2017 and 2018, according to analysis in the 2018 State of Women-Owned Businesses Report, commissioned by American Express and released late last year.

Five Strategies for Raising Financially Savvy Kids

Custom Content by the Los Angeles Business Journal

Family wealth can make life easier at times, but it poses its own set of challenges when it comes to raising children.

Why You Should Care About Pets

Custom Content by the Los Angeles Business Journal

Did you know that more than half of US households include a dog or cat? In fact, more households have a pet than a child under 18.

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Confessions of an Estate Planning Attorney

Custom Content by the Los Angeles Business Journal

I am an estate planner by profession, and an all-around planner at home. To be called a planner in all senses of the word is a badge I wear with pride.

Women Leading the Way in Aviation

Custom Content by the Los Angeles Business Journal

Female trailblazers in the aviation industry – from Amelia Earhart to Bonnie Tiburzi Caputo and Sally Ride – have served as role models for all who have come after them and paved the way for tremendous change in the workplace.

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Girl Scouts: Changing Perspective, Changing the World

Custom Content by the Los Angeles Business Journal

Girl Scouts view things a little differently. We call it seeing the world through green-colored glasses: not just making a mark, but making a difference.

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Women in Leadership: Continued Climb to Success

Custom Content by the Los Angeles Business Journal

When I reflect on women and leadership, I am convinced that as far as we have come, we still have far to go.

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2019 Women's Council & Awards: Lifetime Achievement Award

Custom Content by the Los Angeles Business Journal

Lise L. Luttgens was appointed the first chief executive officer of Girl Scouts of Greater Los Angeles (GSGLA), assuming her role when the six Los Angeles-area legacy Girl Scout councils merged in December 2008.

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2019 Women's Council & Awards: Trailblazer Award - Alyce Morris Winston

Custom Content by the Los Angeles Business Journal

Alyce Morris Winston founded and opened the doors of The Jeffrey Foundation, while unable to work due to lack of childcare, naming it after her son Jeffrey, in 1972.

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2019 Women's Council & Awards: Trailblazer Award - Maria Salinas

Custom Content by the Los Angeles Business Journal

Last year, the Los Angeles Area Chamber of Commerce named financial consultant Maria Salinas as its new chief executive and president, making her the first Latino and first woman to lead the 130-year-old organization.

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2019 Women's Council & Awards: Trailblazer Award - Kelly Fisher Katz

Custom Content by the Los Angeles Business Journal

As Chairperson of The John F. Kennedy Center for the Performing Arts’ National Committee for the Performing Arts, Kelly Fisher Katz is committed to the success of the Center.

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2019 Women's Council & Awards: Volunteer of the Year

Custom Content by the Los Angeles Business Journal

Christine Deschaine, Senior Vice President of Brokerage for Kennedy Wilson, has more than 25 years of experience in commercial real estate as a tenant and landlord advisor and has worked extensively in urban redevelopment with some of Greater Los Angeles’ most prominent retail developers.

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2019 Women's Council & Awards: Philanthropist of the Year

Custom Content by the Los Angeles Business Journal

Melanie Lundquist is a leading philanthropist who focuses her support on various healthcare and education initiatives.

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2019 Women's Council & Awards: Rising Star of the Year

Custom Content by the Los Angeles Business Journal

Rebecca Sadwick is the CEO and Founder of Strategica Partners, a leading go-to-market advisory that defines scalable growth strategies for education technology ventures.

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2019 Women's Council & Awards: Executive of the Year

Custom Content by the Los Angeles Business Journal

Helen Easterling Williams, EdD, is Dean of Pepperdine University Graduate School of Education and Psychology (GSEP).

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2019 Women's Council & Awards: CEO of the Year

Custom Content by the Los Angeles Business Journal

Rachel S. Moore is President and CEO of The Music Center, Los Angeles’ premier performing arts center.

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2019 Women's Council & Awards: Entrepreneur of the Year

Custom Content by the Los Angeles Business Journal

One of the few women at the helm of a moving company, Laura McHolm had an unlikely start for a moving company co-founder; teaching basic programming on Apple computers, then working in marketing for Atari while the company was still in its infancy.

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Monday, July 1

LAX Passenger Traffic Up 0.9% in May, International Traffic Down

May passenger traffic rose at almost 1% year over year to 7.6 million, but international passenger traffic fell slightly, and air cargo tonnage was down significantly.

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Labor Federation Endorses Strike Vote for Grocery Workers

The Los Angeles County Federation of Labor on Monday endorsed a potential strike by supermarket workers, which could include picket lines and boycotts.

CAA Joins Endeavor, UTA in Suing Writers Guild on Antitrust Grounds

All three of Hollywood's top talent agencies have now sued the Writers Guild, claiming the labor union violated antitrust law by staging a boycott against the agencies.

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Silicon Beach Report July 1: MeWe raises $4.5 million

MeWe raises $4.5 million; Pluto TV launches Spanish programming; Netflix and Sony adapting video games for television

6 Mobil Gas Stations Sold for $25M

A boutique carwash, gasoline and convenience store operator has sold a portfolio of six Mobil-branded stations in LA for $24.5M.

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Social Networking Startup MeWe Raises $4.5 Million

Culver City-based social networking startup Sgrouples Inc., doing business as MeWe, announced it raised $4.5 million in a venture round, bringing its total funding to $15 million since launching in 2012.

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2019 Women's Council & Awards: Finalists

Custom Content by the Los Angeles Business Journal

AMABEL DE LEON Nurse, VP of Operations Vanura HomeHealth Services Starting her home health business at the age of 28 in 2001, Amabel De Leon has grown Venura HomeHealth Services to 350 employees and more than $10 million in revenue.