FRIDAY
On its first day of availability this week, the hit Disney Channel Original Movie “High School Musical” sold more than 400,000 DVD units in North America, according to Buena Vista Home Entertainment, a division of Burbank-based
Walt Disney Co.
The highest-rated original programming in the history of Disney Channel, “High School Musical” has become the fastest selling television program on DVD for the home entertainment industry this year and the industry’s fastest selling television movie of all time on DVD, according to Bob Chapek, president of Buena Vista. “With the triple-platinum selling soundtrack at the top of the charts and the television program the highest rated in the history of Disney Channel, we are delighted that this release has set a new benchmark within our strong lineup of television properties,” said Chapek in a statement.
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Los Angeles-based
Abraxis Bioscience Inc.
said Friday that its board has appointed a chief administrative officer and an interim chief financial officer, the later person to replace an executive who is retiring. The board named Ronald E. Pauli as interim chief financial officer to replace Nicole Williams, who is retiring effective May 31. Pauli, 45, has been the company’s corporate controller since 2002, and prior to that was controller and chief financial officer of ERSCO Corp. The board also appointed Richard E. Maroun as chief administrative officer. Since August 2004, Maroun, 51, has served as the general counsel and vice president of corporate development of American BioScience, Inc. (Abraxis’ former parent company). Prior to joining American BioScience, Maroun was a director at Merrill Lynch in its advisory services business unit for four years.
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City of Industry-based
Global ePoint Inc.
announced today that its aviation division, Global Airworks, received orders for Cockpit Door Surveillance Systems from leasing company GECAS for India’s Go Air Airlines. The new CDSS kit order is for Go Air’s A320 aircraft. First Choice Airways, one of the UK’s leading leisure airlines, also placed CDSS orders for two if its B767 aircraft. Go Air Airlines previously deployed the system on other aircraft. Global ePoint provides security and aviation systems for the aviation, law enforcement, government, and commercial and industrial markets,
WEDNESDAY
Zenith National Insurance Corp.
said that William J. Owen, senior vice president and chief financial officer, will retire at the end of second quarter accounting cycle. Kari L. Van Gundy, who will rejoin Zenith on July 5 as senior vice president, finance, will succeed Owen as CFO following his retirement. Van Gundy has been vice president and treasurer of GenCorp Inc., a publicly traded technology-based aerospace and defense manufacturer since 2002, but previously had been employed by Zenith in various positions from 1988 to 2002. “Kari has over 25 years financial experience and more than 14 years experience with Zenith and we expect a smooth transition of the Company’s financial function,” said Chairman Stanley Zax in a statement. In another announcement, Zenith declared a regular quarterly cash dividend of 28 cents per share on its outstanding shares. The dividend is payable Aug. 11 to stockholders of record at the close of business on July 28.
TUESDAY
Santa Monica-based
Activision Inc.
announced it has bought the rights to distribute video games based on Mattel Inc.’s Barbie for an undisclosed price. New games will be ready this fall, with the first five titles tied to new Barbie movies from El Segundo-based Mattel. More than 15 million Barbie video games have sold to date. The agreement is multiyear and covers all game systems, including Nintendo Co.’s Game Boy and Sony Corp’s PlayStation. Some past Barbie titles are also included, said Activision, the second-largest maker of video games. “Barbie is one of the most recognized brands in the world and its video games have sold more than 15 million units to date. Activision is excited to partner with Mattel to expand this classic property to a new generation of consumers,” said Dave Oxford, general manager of Activision Publishing Inc.
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Pasadena-based
Jacobs Engineering Group Inc.
announced they and a subsidiary company had been awarded several contracts, including one to provide engineering support to the Naval Surface Warfare Center in Panama City. The contract, one of the U.S. Navy’s SeaPort-enhanced task orders, part of an effort to modernize, maintain, and operationally support the Landing Craft Air Cushion. The contract consists of a five-month base period beginning in May 2006 and award term periods that could extend the contract for four additional years. Officials did not disclose the contract value.
A Jacobs subsidiary company has received a contract from the City of Alexandria, Virginia, Department of Transportation and Environmental Services, to provide engineer of record Services. Officials did not disclose the value of this contract which renews Jacobs services for two years and provides for three additional option years. Jacobs also been selected by Northfield Laboratories Inc. in Mt. Prospect, Ill to provide engineering services for Northfield’s new biological manufacturing facility. Northfield Laboratories’ blood substitute product, PolyHeme, is used in the treatment of urgent, large volume blood loss in trauma and surgical settings, and is considered particularly valuable in circumstances where blood is not immediately available.
Lastly, a subsidiary company received a contract to provide a conceptual study for Canadian Natural Resources Limited’s grassroots upgrader to be located in northern Alberta, Canada as part of an effort to develop a synthetic crude oil blend. The upgrader will process bitumen produced via thermal in situ methods from up to four of Canadian Natural’s oil sands leases near Cold Lake and Fort McMurray, Alberta. Jacobs will investigate various upgrader technology options and process configurations to produce a synthetic crude oil.
MONDAY
Chatsworth-based nutritional supplement maker
Natrol Inc.
on Monday announced the establishment of a United Kingdom subsidiary, Natrol UK Ltd. “Less than 10 percent of our revenue is derived from international sales today, (so) establishment of Natrol UK Ltd. will allow us to pursue additional organic revenue growth overseas,” said Chief Executive Wayne Bos in a statement. Margaret Peet, a U.K. native and former GNC executive with 25 years of experience in the health and nutrition industry in both that the U.K. and the United States, has been hired to over see the new subsidiary.
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Los Angeles-based
CB Richard Ellis Group Inc.
agreed to pay $137 million for a 40-story office tower in Chicago from a joint venture that includes insurer MetLife Inc., Crain’s Chicago Business reported, citing people familiar with the transaction. The price for the building with 800,000 square feet of space is more than $170 a square foot, Crain’s said. The building, at 190 S. LaSalle St., is 58 percent vacant, one of the highest vacancy rates in the downtown area where selling prices have been hurt by a glut of new buildings with too few growing businesses to fill them. The building’s previous largest tenant, law firm Mayer Brown Rowe & Maw LLP, left last year, Crain’s said.
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Malaysian Airline System Bhd., Malaysia’s biggest carrier said it has hired
CB Richard Ellis Group Inc.
to help sell its overseas assets in a bid to revive earnings. State-controlled Malaysian Airline, which has posted losses for three straight quarters, is trying to sell assets, overhaul routes to return to profit by 2007. CB Richard Ellis is considered the world’s largest provider of commercial real estate services.
