Stories for July 2006
Monday, July 31
CUB California United Bank reported total assets of $142.5 million at the end of its first full four quarters of operation on June 30, 2006, an increase of 22 percent over assets as of March 31.
The California Supreme Court just ruled on an issue that could have an enormous impact on how employers pay temporary workers on completion of job assignments.
A just-released survey shows apartment asking rates are continuing to rise, Shelly Garcia reports.
Power-One Inc., a maker of power conversion products in Camarillo, and Silicon Laboratories Inc. said today that they have entered into an agreement to settle a patent infringement lawsuit filed by Power-One.
What's in store for subscribers in the San Fernando, Simi and Santa Clarita valleys with the merger between Adelphia Communications Corp. and Time Warner Cable Inc. complete?
This November marks the 30th year the VEDC has been helping small- and mid-size businesses thrive through loan programs and seminars.
Car sales hold up despite rising gas prices, although the action is better for some brands than others.
After several efforts to find a location in North Hollywood and Northridge, mARK Steele has now turned his attention to the Warner Center area, and in recent weeks he took his ideas to the Livable Communities Council meeting of the Economic Alliance of th
The city of Lancaster hopes to become a hospitality center with three hotels, including what would be the first Hilton in Antelope Valley.
Nature is the great equalizer. It usually levels the playing field between the rich and the poor, exposes our frailties. We saw it at work during the Northridge Earthquake when the poorly built buildings crumbled.
Fuel efficiency seems to be the cornerstone of the most recent new model introductions.
Women are increasingly discovering the benefits of golf for landing business.
TVN Entertainment Corp. inked a deal with G4, a network catering to men between ages 18 and 34, the company announced Monday.
Westlake Village homework help and self-study guide provider Academy123 has been acquired by Discovery Education, the company has announced.
Thomson signed an agreement this month with a Belgian movie theater chain that will have its Technicolor Digital Cinema unit installing equipment as part of the rollout of digital cinema in the European market.
The route of next year's Los Angeles Marathon will now include portions of the San Fernando Valley barely.
TIME Financial Services in Warner Center has been acquired by the largest independent wholesale distributor of life insurance in the country.
Blue Cross of California has announced a new dental insurance program called Dental Blue, a partnership with BC Life & Health Insurance Co.
Long-time Walt Disney Co. board member Gary Wilson resigned his seat effective Monday, the company announced.
Los Angeles World Airports staff moved ahead with a study on possibly banning certain types of noisier jet aircraft at Van Nuys Airport following a meeting July 17 at which concerns were raised on what the ban would mean for aviation businesses based ther
Motor scooters are catching on among U.S. consumers.
Barry Gump, president and CEO of the Santa Clarita sanitation company Andy Gump, has been elected chair of the advisory council for the California State University, Northridge, Family Business Center.
Clip-on hair extensions were all the rage when Beth Orenstein returned to work as a hair stylist after an illness in the late 1990s.
The sound of construction can be heard all along the Brand Boulevard of Cars as dealers renovate.
Founded in 1987 by pilot Alan Purwin, the company based at the northern end of Van Nuys Airport operates a fleet of 42 helicopters across the nation, many of which are leased to television stations and film companies.
Since taking office in 2001 Los Angeles City Controller Laura Chick has been busy undertaking performance audits of many of the city's departments.
Friday, July 28
Krispy Kreme Doughnuts Inc. said today that it will buy back three of its stores, including one in Burbank to settle a dispute with its Southern California franchisee, Great Circle Family Foods LLC.
North Valley Regional Chamber of Commerce, Home Improvement & Real Estate Cluster
Thursday, July 27
K-Swiss reported that earnings rose about 21 percent to $20.3 million or $0.58 per share in the second quarter, beating Wall Street's estimate of $0.46.
Teledyne Technologies Inc. purchased on Thursday the Thousand Oaks-based Rockwell Scientific Co. for $167.5 million cash.
Video game publisher THQ, Inc. reported a net loss of $12.1 million for the first quarter ending June 30.
Image sensor supplier AltaSens struck a deal with Tandberg to provide sensors for cameras used for videoconferencing, the company announced Thursday.
The 409-acre community of Stonecrest in east Canyon Country will become part of the city of Santa Clarita.
Wednesday, July 26
The Santa Clarita operation of HR Textron has been awarded a $159,531 contract from the U.S. Air Force to develop servo valve module kits.
Chatsworth-based Sexy Hair has named American Idol runner-up Katharine McPhee its spokeswoman.
Profits at IHOP Corp. sunk in the second quarter, decreasing 13.6 percent to $10.3 million and earnings per share dipped 6.7 percent to $0.56.
Woodland Hills-based 21st Century Insurance Group reported second-quarter profit rose 38 percent.
The Sylmar medical device company Tri-anim has signed an agreement with Danvers, Mass.-based Medwave, developer of the Primo blood pressure monitor.
MRV Communications, Inc. posted a net loss of more than $2 million for the second quarter that ended June 30.
Tuesday, July 25
Woodland Hills Zenith National Insurance Corp. reported that its second-quarter profit rose 17 percent on increased workers' compensation income.
Video game developer and publisher THQ, Inc. completed its acquisition of Paradigm Entertainment, the company announced Tuesday.
The buyout of Hospital Corporation of America has not stymied negotiations between workers and officials at HCA-owned West Hills Medical Center and Los Robles Medical Center in Thousand Oaks.
Countrywide Financial Corp. today reported net income increased 27 percent to $722 million or $1.15 per share for the second quarter ended June 30, 2006, compared to earnings of $566 million for the comparable period a year ago.
Monday, July 24
Digital Insight Corp. settled on Monday arbitration claims connected with its 2003 purchase of Magnet Communications.
Bank of Santa Clarita said today that its assets have grown 50 percent to $93.6 million in the second quarter ended June 30, versus $62.6 million at Dec. 31, 2005.
Chatsworth-based Image Entertainment Inc. has signed a distribution agreement with Jive Records R & B; music artist R. Kelly for his first live concert DVD.
United Online, Inc. has partnered with Best Buy stores to market voice phone services and the new PrivatePhone service, the company announced Monday.
Friday, July 21
The German Cartel Office gave the go ahead this week for MGA Entertainment, Inc. to form a strategic partnership with Zapf Creation AG, Europe's leading brand manufacturer of play and functional dolls.
Test systems manufacturer Ixia saw a drop in its second quarter income compared with the same reporting period from the previous year.
Thursday, July 20
California Insurance Commissioner John Garamendi has announced a plan to reduce title insurance costs by $1 billion a year by forcing insurers and escrow firms to rollback costs and fees to March 2000 levels.
Federated Department Stores Inc. said today that it has sold one of its stores in the Glendale Galleria to Target Corp.
All 400,000 hotel rooms under the Marriott nameplate will be non-smoking by September, the company announced.
Semiconductor manufacturer Semtech Inc. announced Thursday that it would restate its financial statements in light of an internal review of stock options practices.
During the second quarter of 2006, Glendale-based IHOP inked more than two dozen franchise agreements for new restaurants across the country, part of a continuing push to expand its national footprint.
Wednesday, July 19
A Chatsworth optical components company terminated a planned acquisition of a Chinese fiber optic transceiver manufacturer, the company announced Wednesday.
The Cheesecake Factory has become the latest company to review how its stock options are awarded to executives.
Glendale Water & Power set an all-time record July 15 for the amount of power it provided to customers on a Saturday.
The Walt Disney Co. announced Wednesday that it plans to eliminate as many as 650 studio positions worldwide as it repositions itself to focus on Disney branded movies.
Thousand Oaks-based independent fuel retailer USA Petroleum Corp. plans to sell 122 of its California gas stations to the oil industry giant Chevron USA Inc. for an undisclosed sum.
Tuesday, July 18
The Los Angeles World Airports Board of Commissioners directed staff to conduct a study related to banning certain jet aircraft from Van Nuys Airport.
The Valley Industry & Commerce Association Board of Directors says a bill backed by L.A. Mayor Villaraigosa won't accomplish enough
The NoHo Lofts holds its grand opening and ribbon cutting ceremony on Thursday.
Santa Clarita city officials are taking a new approach in their bid to keep Six Flags from closing Magic Mountain they are asking to meet face-to-face with the park's corporate owners to present plans to annex the county-owned land.
Monday, July 17
Recent moves by Amgen to relocate some of its employees to Colorado will not have a significant economic impact in its hometown of Thousand Oaks, officials of the city say.
Kellogg & Andelson is at the cutting edge of a small, but growing movement to outsource accounting functions to India.
If there's one thing about which everyone in the Valley can agree, it's that we all support clean air. Formerly the smog capital of the nation, we've come a long way in cleaning up the air we all breathe, and we need to take additional steps to continue i
The projected opening of a revamped Reseda Theater is at least 18 months away but that hasn't dimmed hopes the $8 million project will spark resurgence in that part of the San Fernando Valley.
Vivid Entertainment has dropped Larry Flynt Productions and will use Pulse Distribution to market its line of adult DVDs.
Go online and chances are one will come across ads for a movie or television show that comes to life when the cursor rolls across it, allowing a viewer to interact with the ad.
The biopharmaceutical company Amgen has started the largest clinical trial to date of patients with stage five chronic kidney disease.
Crosby, 52, was also recently elected president of the California Association of Health Underwriters, a 2,600-member organization of brokers and health insurance insiders.
For two years running, the Society for Human Resource Management and the Great Place to Work Institute included Insomniac Games in Burbank on a list of the 25 best small companies to work for.
Many companies saw a significant reduction in costs associated with implementing the requirements of Sarbanes-Oxley, but other, mostly smaller companies may still be paying a high price.
When California State University Northridge changed the name and focus of its extension learning program two years ago, university officials sought out a unique advertising campaign to get that message out.
Rising prices may have many in the industry sweating, but the Los Angeles County Assessor's office is not one of them, Senior Reporter Shelly Garcia writes.
Mannkind stock is on a roll on the promise of a drug that's still in development, but investors could come up empty if competitors get to market first, Chris Coates reports.
Think Sarbanes-Oxley is complicated? Try coming up with a way to unify financial reporting standards across the globe.
Woodbury University is embarking on its first ever full-scale fundraising effort in order to construct a new facility for its business school.
The community doesn't want any more development. The budget is tight and existing retailers are angry at being displaced from their longtime locations.
What are value drivers? And why are they so important to you and your company?
As the troubled healthcare industry faces lawsuits, rising expenses and demands for additional nurses, an increasing number of local hospitals have turned to technology to make patients more comfortable.
The owners of Vitello's Italian Ristorante have opened an upstairs cabaret and supper club.
The San Fernando Valley is expected to be among the markets with the tightest multifamily apartment vacancy rates in the Los Angeles area by year end, according to a report just released by Marcus & Millichap Real Estate Investment Brokerage Co.
It's too bad that Al Gore is the focal point of the movie, "An Inconvenient Truth." He detracts from his own message.
Choreographer Richard Giorla has found a niche combining his dance background with a workout regimen that he hopes to someday franchise.
GoTV Networks launched this week a made-for-mobile devices only reality show that transforms "plain Janes" into outgoing and beautiful divas.
Privately held companies are not subject to the same stock exchange-required rules and strict government regulations that are compulsory for publicly traded companies. While this frees private companies from costly reporting and compliance mandates such a
After moving into IT and human resources consulting to expand their businesses, CPA firms are turning back to their roots to mine new business opportunities.
Friday, July 14
Optical Communications Products, Inc. sealed a $20 million acquisition of a Taiwanese firm that does business extensively in Japan, the company announced.
Beverly Hills Bancorp Inc. has begun a stock buyback program with plans to repurchase about 12.8 percent of its outstanding common stock.
The American Institute of Architects and the Economic Alliance of the San Fernando Valley have joined to create a development model for the Sun Valley-Hansen Dam area.
Westlake Village-based special events firm 11H has been hired to produce the Galpin Motors holiday event.
Thursday, July 13
Santa Clarita had the highest hotel room occupancy rates in Los Angeles County during the month of May, according to a new study by the hospitality firm PKF Consulting.
Washington Mutual Inc. will cut another 140 positions at its Chatsworth campus, part of a new round of layoffs that will affect a total of 900 workers at the bank.
Natrol, Inc. finds itself back in compliance with Nasdaq Marketplace rule requiring a majority of independent directors on its board, the company has announced.
Glendale-based IHOP Corp. has reported a 3.1 percent increase in same-store sales during the most recent quarter ended June 30.
Wednesday, July 12
The U.S. Department of Transportation awarded a $2 million grant to the Bob Hope Airport to insulate homes from jet aircraft noise.
Sherman Oaks-based No Red Tape Mortgage is doubling its sales staff in a bid to reach brokers nationwide, the company said.
Encino-based American LegalNet has created a new system to streamline the submission of legal forms and documents.
A strong outlook for a number of diverse businesses will help to keep the Southern California economy in good shape through the rest of the year despite rising interest rates and energy costs, according to the mid-year economist forecast issued today by t
Tuesday, July 11
Re/Max Commercial Brokerage and Venture West Funding Inc. have formed a partnership to provide dedicated commercial mortgage services to clients of Re/Max Commercial and its affiliates.
Glendale-based food company Nestle USA plans to construct a $359 million, 880,000-square-foot factory and distribution center on a 190-acre site in Anderson, Ind., near Indianapolis.
The U.S. Small Business Administration swore in Steven C. Preston as Administrator Monday in Washington D.C.
BitTorrent, Inc. has signed a video licensing agreement with Egami Media, a subsidiary of Image Entertainment, Inc., the company announced.
Monday, July 10
Where someone lives will no longer play a role in how much the Automobile Club of Southern California charges for car insurance.
Woodland Hills-based Gamma Enterprise Technologies has signed a distribution deal with Scotland-based Absoft Limited to deliver products to SAP customers in Europe.
Residential real estate broker Matt Epstein has been appointed to the South Valley Planning Commission.
Friday, July 7
The Southern California Association of Governments formed a sub-region for regional planning in the San Fernando Valley.
Metro announced Friday that is has saved near $185,000 in electricity costs due to the solar panel project at the bus facilities in Sun Valley and Chatsworth.
A handful of auto dealerships are planning expansions along Lancaster's Auto Mall on 10th Street West.
OnBoard Outfitters LLC, a Calabasas-based designer of sports-inspired accessories, home wares and clothing, is launching a new line of products.
Thursday, July 6
The Metropolitan Transportation Authority has provided $150,000 to study a regional connector linking bus and rail service with the Red Line in North Hollywood and service in Pasadena.
Shoe Pavilion Inc. said Thursday that its comparable store sales increased 3.9 percent for the second quarter ended July 1 vs. the comparable period a year ago.
Sherman Oaks-based Earl Scheib, Inc. in partnership with California's South Coast Air Quality Management District will provide free consultation services to auto body and paint businesses that need to cut down emission of air contaminants.
The owners of MGA Entertainment, Inc. have acquired a minority interest in Zapf Creation, AG, Europe's leading brand manufacturer of play and functional dolls, the company announced Thursday.
Wednesday, July 5
Magnetek, Inc. has been notified by the New York Stock Exchange that it fails to meet continued listing standards, the company has announced.
Residential construction fell 8 percent in May compared to April, the second straight month of declines for the industry, according to a report by the Associated General Contractors of America using Census data.
Newbury Park-based Electronic Sensor Technology (EST), provider of homeland security and environmental solutions announced Wednesday that it has received multiple orders from China Petroleum and Chemicals through its distributor, Beijing R & D; Ltd.
Glendale-based IHOP Corp. signed a multi-store development agreement with franchisee Scott Womack to develop 17 IHOP restaurants over the next 12 years in the Dayton and Columbus, Ohio, markets.
Monday, July 3
Buying a car is often the second most expensive purchase consumers make, but unlike buying a home, the average person will buy many cars over a lifetime. It can be an overwhelming and daunting proposition. But the process just got easier. As of July 1, ca
The jury is still out on whether rising gas prices will affect consumer spending, but there's no doubt that oil and other commodities are already contributing to inflation, and businesses are feeling the effects.
In 2002 a Court of Appeals decision in Salazar v. Diversified Paratransit, Inc..,103 Cal. App. 4th 131 (2002) held that workers in California are not protected against workplace sexual harassment perpetrated by customers, vendors and other third parties.
The aviation industry is readying itself for a dogfight over a proposal to raise the fees paid by private aircraft owners.
Hector Galvan has opened a rare showroom for stone and masonry that the owner of Prime Building Supplies hopes will help to expand the company's channels of distribution and combat competition from the big chains.
The Kosmont-Rose Institute Cost of Doing Business Survey just released for 2006 shows that some of the neighboring cities to Los Angeles have gotten pretty pricey for businesses, largely because of energy and other utility tax rates and property taxes.
Forth & Towne, a new concept from Gap Inc., has big plans in the Valley; Mitchell Litt Antiques and Home Furnishings is adding a second location; New women's apparel tenants in Sherman Oaks are bringing more upscale looks to the neighborhood.
Keeping the planes parked at Van Nuys Airport humming plows considerable revenue into the economy.
A new company in Thousand Oaks hopes to simplify brokers' property searches by combining listings from a number of different Web sites in one place, Senior Reporter Shelly Garcia writes.
The cost to fill up the tank may be near the low point for the year, according to the Automobile Club of Southern California.
Richard Hodkinson, founder of Elite Aviation, took the company from a single client to a fleet of 24 planes. Now he is stepping back as the company's majority shareholder takes the helm.
On Assignment, a healthcare staffing provider, has taken the first step in plans to expand by registering its intention to raise as much as $125 million in a stock offering.
A report on whether the Los Angeles Board of Airport Commissioners should move ahead with a ban on certain jet aircraft at Van Nuys Airport is expected to be given when the commissioners meet again on July 17.
This regular feature focuses on philanthropic activities by Valley-area companies and businesspeople.
Tujunga-based online dating service Luvoo has reported a 725 percent increase in subscribers since it went public last month.
Rafael Vega loses count of the number of neighboring restaurants along Ventura Boulevard that have closed since he opened Casa Vega 50 years ago.
Selena Birk oversees daily operations at Van Nuys Airport, the world's busiest general aviation airport.
The decision to merge FCB Bancorp and National Mercantile Bancorp is one of an increasing number of mergers and acquisitions taking place in the banking industry, Shelly Garcia reports.
AvJet may be keeping its clients secret, but it was hard to hide an agreement just reached to construct a new hangar at its Bob Hope Airport home.
N.Y.P.D. Pizza, an Orland-based chain of Big Apple-themed pizzerias and delicatessens, has opened its first L.A.-area outpost in downtown Burbank.
Alan Shorr and Morrie W. Reiff, founders of AFA Financial Group LLC, didn't think twice when they launched the company in 1999.
Business leaders in Santa Clarita Valley are still reeling from the news that longtime economic engine, Magic Mountain, could be sold to a residential developer.