Stories for June 2005

Thursday, June 30

American Realty Goes Shopping

The Glendale-based company announced the purchase of a shopping center in suburban Washington, D.C.

KB Partners With Countrywide for Home Mortgage Lending

Countrywide Financial Group acquired a KB Home mortgage unit, and formed a partnership to make loans to KB customers.

Wednesday, June 29

MannKind to Start Phase 3 Trial for Inhaled Insulin

MannKind, along with several other companies, is racing to receive approval for its inhaled insulin product. The market for inhaled insulin is expected to be over $3 billion in the next several years.

Tuesday, June 28

Tom's Hardware Guide Partnering with PriceGrabber

Westlake Village-based Tom's Hardware Guide will team with PriceGrabber to provide online comparison shopping.

Sport Chalet Founder to Relinquish Majority Control

Sport Chalet is transferring ownership from the company's founder to its current management team.

Monday, June 27

ValueClick Completes Acquisitions

The Westlake Village firm completed the purchases of Web Marketing Holdings Inc. and E-Babylon Inc., which were announced on June 13.

IRIS Subsidiary Awarded $100,000 Research Grant

Advanced Digital Imaging Research, LLC has been awarded a $100,000 grant from the National Institutes of Health for "Low Cost Automated Urinalysis Using Spectral Data."

New Home Community Opens in Granada Hills

Aqueduct Village in Granada Hills will consist of 20 single-family homes in the $600,000 range.

Thursday, June 23

Valley Village Condo Plan Gets Okay

The Valley Village Neighborhood Council gave a developer its approval to build a 96-unit condominium complex on a site that houses Steven's Nursery & Hardware.

Wednesday, June 22

Amercian Soil Technologies Signs Distribution Deal

Pacoima-based American Soil Technologies will distribute Reinke Pasco's irrigation systems in the state of Washington.

Greig Smith to Unveil LA Solid Waste Plan

Smith will announce his plan to end landfilling Thursday afternoon at Bee Canyon Park in Granada Hills.

Prices Rise, but Volume of Home Sales Slowing

The median price of a single family home in the Valley in May rose 17.3% versus a year ago to $575,000, although sales volume rose only slightly to 1.4 percent.

Tuesday, June 21

First L.A. PostalAnnex+ Opens

The San Diego based company operates more than 300 franchise units across the country, including locations in Simi Valley, Thousand Oaks and Agoura Hills.

VICA Supports "Fire-walling" Prop 42

VICA's board said that future tax revenues should be used for highway improvements, and that the state should repay $2.1 billion.

Keller Williams to Open in Lancaster

The residential real estate brokerage will host a "Keller Williams Goes to Hollywood: A Night at the Oscars" party next Wednesday.

Monday, June 20

Bookstein Gives $1 Million to CSUN Business School

Thanks to a $1 million donation from alumnus Harvey Bookstein, CSUN will establish its first endowed chair at the university's College of Business and Economics.

Airport Takes Top VICA Honors

Bob Hope Airport won top honors at the Valley Industry and Commerce Association's Excellence Awards.

Doug Yarrow and Bob Sommers

Symark Software

ValueClick Buys Two More Firms

Online Marketing firm ValueClick Inc. continues its buying spree with the purchase of two more companies.

Started Out of Frat House, Firm Becomes Tech Leader

Cal Net Technology Group

Steven Nielsen

Activus Healthcare Solutions

Chatsworth Firm Sees Benefits in Helping Workers

Organized Sports

Robert Kleiman and Mark Sapiro

Structure Development Group

Image Entertainment Posts Earnings, Revenue Jump

Revenues at Image Enterainment jumped 40 percent annually, as the company posed a $5.1 million profit.

DTS Expands Internationally

The Agoura Hills sound technology company opened offices in Hong Kong and Buenoa Aires, bringing the number of international facilities to 15.

Richard Burke

Performance Labs Inc.

Liliana Wilkerson

And Here's Lilly

Tech Visionary Helped Adapt Cell Phones to New Users

GoTV Networks

Women's Business Center in New Office

The Women's Business Center moves into new headquarters with the Santa Clarita Chamber of Commerce.

Research Expert Had Early Focus on Hispanic Market

Garcia Research Associates Inc.

MTV Buys NeoPets for $160 million

The NeoPets.com Web site, which allows children to raise virtual pets, has more than 25 million members worldwide.

Michael Weinper

PTPN Inc.

Auto Industry Now on Business Man's Road to Success

5square Systems Corporation

After Dramatic Life's Story, Businesswoman Gives Back

Unique Image Inc.

Jim Little

Employers Direct Insurance Co.

Jim Kaplan

Studio City Sun

After Successful Initial Venture, Businessman Re-Assembles Team

Xirrus Inc.

Valley Programs Graduate Students Ready for Biotech

Students graduate from two different biotechnology training programs in Sun Valley.

Bank of Santa Clarita Requests Second Offering

The bank, which opened in late 2004, hopes to raise an additional $7 million

Who is the Real Entrepreneur?

Will the real entrepreneur please stand up?

Dot-Com Hangover May Have Put Damper on Startups

A decline in the number of young businesses in recent years may be due to a hangover from the dot-com bust.

Company Brings Two-Pronged Approach to IT Consulting

INSYNC Consulting Group

Entrepreneurs Pay Tribute to Those Who Helped Out

Local entrepreneurs tell who helped them most along the way.

Biotech Bears Brunt of VC Deal Slowdown

Venture capital action in the first quarter benefited semiconductor and software companies but biotech companies saw a significant loss of interest.

Mannkind Enters Inhaled Insulin Competition

MannKind Corp. enters industry competition over inhaled insulin as an underdog.

The Great Idea: Thinking it Up is Just the Beginning

Although great ideas are pivotal to a successful business, they are only the beginning.

Owner Builds Aerospace Firm in Middle of Downturn

MS Aerospace

Duo Plays With Serious Collectors of Action Figures

Sota Toys

Wednesday, June 15

Wesco Expands

The local distributor of performance tires and automotive products leased 17,000 square feet of space at Van Nuys airport.

Cherokee Announces 10% Dividend Increase

The dividend will be payable to investors in September.

Monday, June 13

ValueClick to Buy Two Internet Companies for over $141 million

ValueClick Inc. will spend $141 million to buy Web Marketing Holdings Inc., and agreed to buy E-Babylon Inc. in a separate transaction.

Disney Internet Group to Purchase European TV Game Developer

The purchase is a continuation of Disney's efforts to create interactive TV games, which feature some of the company's most popular movies and characters.

Friday, June 10

Superior Lowers Earnings Guidance

Superior Industries International Inc. today said that its second quarter earnings would be lower than earlier expected as a result of the continued decline in customer orders.

Encino Chiropractor and Legal Assistant Jailed for Insurance Fraud

Chiropractor Nasrin "Nancy" Hadizadeh Fathi and Behrouz Beck Saffary were taken into custody on charges that they overbilled insurance companies for treatment of patients.

Thursday, June 9

THQ WWII Strategy Video Game Wins Award

Company of Heroes was named Best Strategy Game by the The Game Critics Awards, a group of journalists from media outlets across North America.

Aramark Acquires Garment Leasing Company

Aramark Uniform Services has acquired industrial textile rental company ALAC Garment Services, which will add about $4 million to its annual revenue.

Wednesday, June 8

CHA Applauds Federal Freeze on Limited-Service Hospital Approvals

The Center for Medicare and Medicaid Services has frozen approval of new physician-owned, limited-service hospitals until January of 2006.

BRC Imagination Arts Completes Singapore Project

The Burbank-based museum and theme park designer has completed its revitalization of the Sentosa Images of Singapore Experience Center, which will mark its grand opening later this summer.

Monday, June 6

Despite Improved Climate, Talks Dampen Hotel Business

The hotel industry may be having its best year since before 2001's terrorist attacks, but many Los Angeles hotels, like the Sheraton Universal, are still unable to attract as many guests as they would like.

Sales Brisk for Some SUVs Despite Rising Cost of Gas

Sales of some SUVs are still brisk despite high gas prices.

Multi-family Complex Sells for $32.6 Million

The complex is located adjacent to Burbank's media district and includes studio, one-bedroom, two-bedroom and townhome units.

Pierce Center to Become Chief Liaison for Business in Iraq

The International Business Center at Pierce College has been named the chief United States representative for the Iraqi-American Chamber of Commerce International.

Lancaster Hospital Breaks Ground on Palmdale Facility

Lancaster Community Hospital comes one step closer to building a new hospital in Palmdale as it breaks ground on a medical office building.

Animation Firm Sets Up Shop in Valley

GigaPix Studios arrives on the animation scene in the Valley setting up shop at a huge Chatsworth site.

$10 Million Roy Disney Donation to Kick-Start Cancer Center

A $10 million donation from Roy and Patricia Disney will help kick-start plans for a cancer center at Providence St. Joseph Medical Center.

IRIS Completes Acquisition

Chatsworth-based urinalysis systems and medical device manufacturer buys unit of Quidel Corp.

Iris International Completes Quidel Acquisition

The Chatsworth-based urinalysis and medical device manufacturer paid $500,000 in cash for the urinalysis business segment of Quidel Corporation.

Disputed Site Sold at Auction

A Ventura Boulevard property that was involved in a dispute between two partners was auctioned off for $9.8 million.

Dealers Still Enjoy Strength in Numbers

Despite the softening of local auto sales, news isn't all bad.

Legal Compliance Driving Up Costs for Dealers

Complex rules and regulations combined with an increasingly litigious society are forcing auto dealers to spend more money and time on education and compliance.

Recording Studio Makes Another Valley Purchase

While the recording industry has seen its ups and downs, one studio has been on an acquisition spree.

Premiere, Other Luxury Rental Properties Up for Sale

Senior Reporter Shelly Garcia writes that one of the pioneers in luxury rental housing in the San Fernando Valley, has put a portfolio of five of its properties up for sale

Alliance Faces a Changed Valley

As it celebrates its 10th anniversary, the Economic Alliance of the San Fernando Valley faces a changed Valley.

Friday, June 3

PCS1 Enters California Residential Market

The North Hollywood telecommunications company purchased two divisions of TGEC Corporation, adding 12,500 residential phone line to its customer base.

Video Software Dealers Announce Home Entertainment Award Nominees

Winners of the awards will be announced on July 27 during an awards show at the Bellagio Hotel and Casino in Las Vegas.

Santa Clarita Development Sold

Fairway Commercial Partners has sold the three buildings in its recently completed business park for more than $10 million.