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Karen Jordan

Stories by Karen

Some L.A. Hotel Rates Tripled for New Year’s

If you’re interested in booking a hotel this New Year’s Eve, get ready to pay up. Hotel rates in Los Angeles are going to the penthouse level this Dec. 31, according to a survey by LosAngelesHotels.org.

ReachLocal and U.S. Auto Parts Network Among This Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies was up marginally for the week. The weighted LABJ index rose nearly 1 percent to close at 234, with losers outpacing gainers 76 to 70. Eight companies closed the week unchanged.

Tenants, ‘Evicted for Airbnb,’ Sue Landlord

Five long-term tenants in Fairfax District filed a lawsuit Wednesday claiming they were illegally evicted so their units could be rented for farm more money to Airbnb.

Deal Finalized for Daughters of Charity

The Daughters of Charity Health System has finally closed the deal with New York private investment firm BlueMountain Capital Management to transfer control of six struggling Daughters of Charity hospitals, including two in Los Angeles County, and create Verity Health System.

Metro Launches New Silver Line Express

Los Angeles Mayor Eric Garcetti on Monday announced the launch of Metro’s Silver Line Express.

Arrowhead Moves to Nasdaq Biotech Index

Pasadena biopharmaceutical firm Arrowhead Research Corp. announced Monday that the company will be added to the Nasdaq Biotechnology Index, a collection of biotech and pharmaceutical companies.

Boyle Heights Businesses Charged with Environmental Violations

Los Angeles City Attorney Mike Feuer, along with the California Environment Protection Agency and other state regulators, filed criminal charges Friday against five metal plating businesses in Boyle Heights over environmental violations they say pose a public safety threat.

Kite Pharma Planning Stock Sale

Shares of Santa Monica cancer drug developer Kite Pharma Inc. were up Tuesday after the company announced it plans to sell up to $250 million worth of common stock.

SoCalGas Responds to Leak

Southern California Gas Co. executives say they are doing what they can to ameliorate the effects of the gas leak near Porter Ranch that has been ongoing since late October and appears likely to continue for several months.

Broadway Financial and Cadiz Among This Week’s Big Movers

The Los Angeles Business Journal’s index of the largest local public companies was down for the week. The weighted LABJ index fell 1 percent to close at 242, with losers outpacing gainers 93 to 54. Seven companies closed the week unchanged.

CIM Group Signs Lease with Munger, Tolles & Olson

Munger, Tolles & Olson LLP has signed a long-term lease with L.A.’s CIM Group to move the law firm’s headquarters to 150,500 square feet at 2 Cal, an office building at 350 S. Grand Ave. in Bunker Hill.

More Haggen Store Sales Approved

Encino’s Gelson’s Markets and Smart & Final Stores have been approved to expand in Los Angeles. Gelson’s executives announced Monday that the company won final approval to buy two additional stores – one each in Laguna Beach and Carlsbad – that were formerly owned by bankrupt grocer Haggen. It earlier got six stores.

Creative Office in Long Beach

Adler Realty Investments Inc. of Woodland Hills has sold a 210,281-square-foot office complex in Long Beach for $35.2 million to a joint venture that aims to convert it to a creative office space.

UCLA Gets $1 Million Gift from Entrepreneur

Real estate entrepreneur Steven Gordon, the chairman and principal owner of Domino Realty Management Co., has made a $1 million donation to the UCLA Ziman Center for Real Estate in order to fund the Steven C. Gordon Real Estate Student Endowment.

Yelp: Burbank a Top City for Local Shopping

An increasing number of people are preparing to shop locally this holiday season – about 64 percent of Americans, says a Harris Poll commissioned by Yelp. And according to a new Yelp list, Burbank ranks as one of the “Top Places to Shop Local.”

No-Surprise Study: L.A.’s Traffic Bottlenecks Are Worst

Since about 42 million Americans are expected to hit the road this Thanksgiving, according to AAA, there are some local bottlenecks – among the worst in the country – travelers may want to avoid.

Preferred Bank Closes N.Y. Buy

Preferred Bank, a downtown Los Angeles bank that focuses on lending to Chinese-American businesses, announced Monday it has completed its acquisition of United International Bank, a small Chinese-American bank in Flushing, N.Y.

Why These Creative Tenants Are Moving to Miracle Mile

Downtown developer Ratkovich Co. announced this week six new lease agreements at its building at 5900 Wilshire Blvd. on the Miracle Mile, boosting its occupancy rate north of 95 percent.

Ring Links up With Insurer to Offer Discounts

Santa Monica’s Ring, a company that manufactures a doorbell with a video camera linked to an app, has inked a deal with Wisconsin’s American Family Insurance to give customers a discount.

Why Card.com Just Raised $9 Million

Santa Monica’s Card.com, a maker of customized prepaid Mastercard debit cards, announced Wednesday it has raised $9 million from investors.

Oksana Purchases Music School

Oksana Kolesnikova, the founder and chief executive of the Oksana School of Music & Art in Beverly Hills, has added a jewel to her crown with the recent purchase of Rancho Palos Verdes’ European School of Music & Art.

Ending Gridlock: Reason Proposes ‘Mobility Plan’

The Reason Foundation wants to help improve traffic congestion in Los Angeles and Wednesday announced a plan toward that effort.

Leiweke and Azoff Launch L.A. Company

Tim Leiweke, the former chief executive of Anschutz Entertainment Group, has joined forces with powerhouse music manager Irving Azoff to launch the Oak View Group, a Los Angeles advisory and development company that will focus on helping arenas and independent venues find new revenue sources.

Hybrid Streetlight and Cell Tower Unveiled in Hollywood

If you’re frustrated with spotty cell phone coverage in Los Angeles, some relief is on the way in the form of new streetlights that also serve as cell towers.

NantKwest, Stamps.com Among This Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies was up for the week. The weighted LABJ index rose 1 percent to close at 240, with gainers outpacing losers 97 to 55. Three companies closed the week unchanged.

Thousands Converge on Downtown for Small Business Expo

Thousands of entrepreneurs from across the Los Angeles area came to downtown’s California Market Center Thursday for the city Small Business Expo, hoping to pick up new techniques and contacts that could give their businesses a boost.

Rogers & Cowan Gets New CEO

West Hollywood’s Rogers & Cowan, a public relations and marketing agency known for its work in the entertainment industry, named Mark Owens as its new chief executive Tuesday.

Surf Air and Uber Partner for Palm Springs Launch

Surf Airlines of Santa Monica is teaming up with ridesharing service Uber to launch the airline’s service to Palm Springs International Airport.

Work/Life: J.P. Schuerman

The public relations executive on Marina del Rey living, his open-door policy and his annual stress-clearing hike with friends

J.P. Schuerman has made it his business to help others promote theirs.

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NantKwest, On Assignment Among This Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies was up for the week. The weighted LABJ index rose less than 1 percent to close at 237, with losers outpacing gainers 96 to 52. Eight companies ended the week unchanged.

Vance Street Capital Sells Secure Technology

West L.A. private equity firm Vance Street Capital announced Wednesday it has agreed to sell Santa Ana’s Secure Technology Co. to Benchmark Electronics Inc. for approximately $230 million in cash.

Federal Reserve Holds Interest Rates Flat, But Hints at Rise This Year

As expected, the Federal Reserve announced today it that would keep the benchmark interest rate unchanged at nearly zero percent, but paved the way for a possible rate hike in December.

Ares and Kayne Anderson Abandon Merger Deal

Private equity and debt giant Ares Management and fellow Century City finance firm Kayne Anderson Capital Advisors announced Tuesday that they have mutually agreed to forgo their plans to merge due to a difference of opinion about how to navigate the current bear market in energy.

Work/Life: Sabin Lomac

The co-founder of Cousins Maine Lobster on appearing on “Shark Tank,” working with family and taking joy in helping others.

Both Sabin Lomac and Jim Tselikis, cousins and co-founders of Cousins Maine Lobster, fell into the food business by accident.

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MannKind, BBCN Bancorp Among This Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies was up for the week. The weighted LABJ index rose 2 percent to close at 236, with gainers outpacing losers 85 to 64. Seven companies closed the week unchanged.

UCLA Tops Business School Rankings Locally

Three local business schools made Bloomberg Businessweek’s 2015 ranking of “Best Business Schools.”

Kite Pharma Signs New License with NIH

Santa Monica cancer drug developer Kite Pharma Inc. announced it had entered into another exclusive worldwide license with the National Institutes of Health for immuno-oncology drug candidates. This latest license covers treatments targeting tumors associated with lung, gastric, pancreatic and breast cancer, among others.

Sony Pictures to Pay Millions in Hacking Lawsuit

Sony Pictures Entertainment has reached a settlement to resolve a proposed class-action lawsuit brought by former employees who said the company did not sufficiently protect their personal information in the wake of last year's cyberattack.

Work/Life: Tayiika Dennis

The partner at Beverly Hills accounting firm NSBN on having a passion for work, taking chances and the importance of networking.

Tayiika Dennis has a lot to celebrate this year.

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Second Sight Medical Products, Entravision Communications Among Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies was up for the week. The weighted LABJ Stock Index rose 2 percent to close at 231, with gainers slightly outpacing losers 75 to 74. Seven companies closed the week unchanged.

Film Director, Producer Charged in Ponzi Scheme

The Los Angeles County District Attorney has charged a film director and an insurance agent with bilking an estimated $21.5 million from people who invested in a film they produced, “Not Forgotten.”

L.A. Port Approves $52.7 Million Wilmington Waterfront Plan

The Los Angeles Board of Harbor Commissioners has given the go-ahead for the design contract for the $52.7 million waterfront promenade rehabilitation in Wilmington.

UTi Worldwide, California Resources Corp. Among This Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies was up for the week. The weighted LABJ index rose 3 percent to close at 227, with gainers outpacing losers 119 to 30. Seven companies closed the week unchanged.

Haggen Selling Local Stores

Troubled Pacific Northwest grocery chain Haggen announced Monday it would begin unloading some of its California stores to Commerce warehouse retailer Smart & Final and Encino’s Gelson’s Markets.

Tetra Tech Awarded $600 Million Contract

Tetra Tech Inc. has secured a United States Agency for International Development, or USAID, contract with a potential value of up to $600 million, the company said Monday.

Stocks Up; Mattel Rises, Cadiz Sinks

The Dow Jones industrial average rose 304 points in Monday trading to close at 16,776. The S&P 500 rose 36 points to 1,987. The Nasdaq rose 73 points to 4,781. The LABJ Stock Index rose three points to 223.

Point.360, Broadway Financial Among Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies was up for the week. The weighted LABJ index rose 1 percent to close at 220, with losers outpacing gainers 84 to 66. Eight companies closed the week unchanged.

Eli Broad to Donate Personal Papers to UCLA

UCLA announced Wednesday that billionaire philanthropist Eli Broad will donate his personal papers to its library.

Anderson Forecast Projects Higher Housing Costs

California can expect to see continued job growth and lower unemployment over the next three years, but housing costs are expected to continue to rise, according to the UCLA Anderson Forecast released on Monday.

Simulations Plus, Boingo Wireless Among This Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies was up for the week. The weighted LABJ index rose 3 percent to close at 217, with losers outpacing gainers 96 to 54. Eight companies closed the week unchanged.

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