Stories for June 2006

Friday, June 30

Tuesday in the Valley

Valley Cultural Center, 4th of July Extravaganza

Hospital, Nurses Extend Contract Talks

Nurses and management of West Hills Hospital and Medical Center and Los Robles Hospital & Medical Center in Thousand Oaks have agreed to extend a bargaining agreement over the conditions of a new contract through July.

Thursday, June 29

Vitesse Will Be Traded in Pink Sheets After Delisting on the Nasdaq

Vitesse Semiconductor Corp. common stock is now being traded in the Pink Sheets following its delisting from the Nasdaq National Market, the company has announced.

Respiratory Company CHAD Cites Losses

CHAD Therapeutics Inc., a Chatsworth developer of respiratory care devices, has reported a net earnings loss of $673,000 or $0.07 per diluted share on revenues $22.4 million for the fiscal year 2006.

Friday in the Valley

North Valley Regional Chamber of Commerce, Home Improvement/Real Estate Cluster

New Sleep Monitoring Device Introduced

Woodland Hills-based SPO Medical Inc. has launched its PulseOx 7500 a new wrist-mounted device that measures the vital signs of people experiencing sleep disorders.

Hospital Operator Agrees to Pay $900 Million

Tenet Healthcare Corp., one of the nation's largest hospital chains and operator of the 396-bed Encino-Tarzana Regional Medical Center, has agreed to pay the United States more than $900 million to resolve a handful of so-called "whistleblower" lawsuits c

JetBlue Voted Best Low-Cost Airline

JetBlue Airways came out ahead in a survey of passengers on the best low-cost airline, J..D. Power & Associates announced Thursday.

Wednesday, June 28

Thursday in the Valley

North Valley Regional Chamber of Commerce, Women's Services Networking Cluster

North American Scientific

Chatsworth-based health care company North American Scientific Inc. announced Wednesday that it has received notice from the Nasdaq Stock Market Inc. granting North its request to continue to be listed on the stock exchange.

Tuesday, June 27

Universal Adds Fast and Furious Attraction

A car chase stunt and explosion inspired by the film "Fast & Furious" are now part of the studio tour at Universal Studios Hollywood.

Health Net to Refinance Senior Notes

The Woodland Hills-based managed health care company Health Net Inc. has started a series of transactions to refinance its $400 million Senior Notes due 2011.

Vitesse to be Delisted Off the Nasdaq

Semiconductor manufacturer Vitesse will no longer be listed on the Nasdaq National Market beginning June 28, the company has announced.

Wednesday in the Valley

Valley Economic Development Center, All About Business Loans

Image Earnings Plummet In Fourth Quarter and Full Year of 2006

Image Entertainment, Inc. reported Wednesday for the fourth quarter of the 2006 fiscal year ending March 31, a net loss of $283,000 or $0.01 per share on revenues of $30.4 million.

Move Inc. Names Director

Move Inc., formerly Homestore, named Geraldine Laybourne to its board of directors, bringing 11 to the number of directors for the company.

Amgen to Move Jobs to Colorado

Citing a lack of space and overcrowded conditions at its headquarters, the biotech firm Amgen plans to move some of its Thousand Oaks administrative staff to a site in Colorado.

Monday, June 26

Tuesday in the Valley

North Valley Regional Chamber of Commerce, Networking Breakfast

SCORE Offers Free Counseling in Glendale

Non-profit organization, SCORE Los Angeles will be offering free counseling for small businesses in its Glendale office located on 330 North Brand Blvd., Suite 190.

HorseTV Signs With Wrangler

The HorseTV Channel has signed Wrangler to sponsor the network.

Hospital Gets Top Honors for Maternity Care

Antelope Valley Hospital has been given top honors from HealthGrades, a firm that ranks the quality of medical facilities across the country. For the fifth time in as many years, the Lancaster hospital was given a five-star rating for clinical experience

Morton's to Open in Warner Center

Morton's The Steakhouse, an upscale eatery with eight California locations, will open a new restaurant in Warner Center.

Friday, June 23

Monday in the Valley

Encino Chamber of Commerce, UCC Board Meeting

New Improvements for Metro Rapid Bus Line

New Metro Bus improvements in the San Fernando Valley were announced Friday by Los Angeles Mayor Antonio Villaraigosa and Councilmember Wendy Greuel at a press conference.

Six Flags Considers Sale of Magic Mountain and Hurricane Harbor

Six Flags, Inc. is eyeing the sale of six of its theme parks, including Magic Mountain and Hurricane Harbor in Valencia, the company announced Thursday.

VEDC Appoints Three Board Members

The Valley Economic Development Center (VEDC) has appointed three board members to their Board of Directors.

Bodies in Motion in Chap. 11

Bodies in Motion has filed for bankruptcy protection in Woodland Hills.

Homestore Officially Changes its Name to Move

Stockholders officially approved the name change of Homestore, Inc. to Move, Inc at its annual meeting, the Westlake Village company announced Friday.

Thursday, June 22

Natrol Board Comes Up Short

Natrol Board Short One Independent Director Nasdaq Says.

Specialty Inks Deal for New Commercial Test Application

Specialty Laboratories hopes to develop and commercialize a test for cirrhosis risk in patients with Hepatitis C.

Home Sales Down 25 Percent

Sales of single family homes were down 25 percent in May compared to a year ago.

Friday in the Valley

Valley Industry & Commerce Association, Introduction to VICA

Wednesday, June 21

DIC and KOL to Co-Produce Programming on CBS

Burbank-based DIC Entertainment, independent brand management company and AOL, online kids network, KOL will partner to co-produce programming "KOL's Saturday Morning Secret Slumber Party on CBS" premiering September 16, 2006.

Semtech Requests Hearing, In Danger of Being Delisted on the Nasdaq

Semtech Corp. has requested a hearing on whether the company will be delisted from the Nasdaq National Market, the semiconductor manufacturer announced Tuesday.

FCC Could Okay Adelphia Sale by July

The chairman of the U.S. Federal Communications Commission said Wednesday he expects that the agency will complete its review of the proposed sale of Adelphia by mid-July.

Thursday in the Valley

Chatsworth/Porter Ranch Chamber, Networking Luncheon, Sylmar Chamber of Commerce, Chamber Luncheon, Valley Economic Development Center, Start Up Do's and Don'ts

Digital Insight Expands Online Banking Services

Digital Insight Corp. has expanded the online banking services it provides for credit unions in Arizona and Texas, the company announced Wednesday.

Tuesday, June 20

Budget Increase Paves Way for Improvements at Bob Hope Airport

Improvements to its passenger terminals and baggage claim areas and runway repairs at Bob Hope Airport are part of the new $107 million budget adopted Monday by the Burbank-Glendale-Pasadena Airport Authority.

Wednesday in the Valley

Valley Economic Development Center, WEB 101-Get Your Business On-Line!

Valley College Holds Stadium Ceremony

Los Angeles Valley College officially showed off its newly renovated Monarch Stadium at a ceremony Tuesday morning featuring college athletes, community college dignitaries and public officials.

Image Entertainment and Graymark Finish Up on Production of "Fingerprints"

Image Entertainment, Inc., independent producer and distributor of home entertainment and independent film and television production company, Graymark Productions, announced Tuesday that production on the film, "Fingerprints," was completed.

First California Bank, National Mercantile to Merge

FCB Bancorp, parent of First California Bank, and National Mercantile Bancorp which operates Mercantile National Bank and South Bay Bank N.A., have inked a merger deal in a stock swap.

Monday, June 19

Business Journal Celebrates 10th Year With Event

The San Fernando Valley Business Journal celebrated its 10th Anniversary at a reception held June 14 at the Warner Center Marriott in Woodland Hills.

Central Coast Bank to Open Branch in Westlake Village

A Central California Coast bank expects to open a branch in Westlake Village, its 41st location and the first in the Conejo Valley, next month.

Vote Due on Public Storage, Shurgard Merger

Public Storage and Shurgard Storage Centers will each hold their shareholder meetings on July 26, the companies announced today.

Monday in the Valley

UCC Government Affairs Committee Meets

New VICA Chief Provides Connections for Valley Group

Newly-named president of the Valley Industry and Commerce Association,

Caution Emerges For Developers In Condo Market

Once a sure thing, the outlook for condominium development is looking murkier as construction and land costs rise and interest rates climb.

Phone Blitz Sells Valley for Conventions

Twenty five representatives from area hotels turned out for a telethon-like marketing effort to help bring more convention business to the Valley.

Amgen Announces Positive Results for Phase 2 Study of Aranesp

Thousand Oaks-based biotechnology company, Amgen found from a Phase 2 study that their drug, Aranesp, used to treat patients with symptomatic heart failure and anemia, was well tolerated.

Cha Cha Cha Site to Become Coffee House

The Encino storefront formerly occupied by the popular Caribbean-themed eatery Cha Cha Cha is being turned into a gourmet coffee house operated by Brentwood-based Coral Tree Caf & #233;.

Gift Basket Firm Named One of Best in Country

Simi Valley businesswoman Carol Reniger would have been satisfied with her company being named among the Top 100 gift basket providers in the country by an industry trade publication.

Nestle Acquires Jenny Craig

Nestle S.A. has acquired weight loss program developer and marketer Jenny Craig Inc. for $600 million.

Transformation: A Decade of Change in the Valley

In 1996, while the rest of Los Angeles, and the nation, began climbing out of a recession, the San Fernando Valley was a patchwork of scaffolding, teetering reminders of the devastation of the Northridge Earthquake that was still beating down the area's e

Companies Take Avian Flu Threat Seriously, Make Plans

Local hospitals and a growing number of businesses are putting plans in place to prepare for a possible outbreak of avian flu.

10 Years -- And a Lot Hasn't Changed

How the last ten years in the Valley have changed.

Business Person of the Decade

Bert Boeckmann, his six-foot-two-inch frame ensconced behind an oversized mahogany desk, cuts an imposing figure from his perch overlooking the showroom floor of the world's largest Ford dealership.

End of Saga for Bank

Joseph W. Kiley III, CEO and president of First Bank of Beverly Hills, has resigned as the bank closes a long chapter in its history.

Personal Touch

Started out of a bedroom, UBU, which is owned by a husband and wife team, has grown to a 15-employee company selling note cards, stickers, memo pads and other items that can be personalized.

Small Firms Recognized In Local Chamber Effort

Profiles of small businesses recently honored by the United Chambers of Commerce and other groups reflect common goals but different stories.

Women-Owned Company Receives National Award

In marketing the workplace lactation program that is the centerpiece of Limerick, Inc., company President and Chief Executive Officer Patricia Kelly didn't know much about how to approach potential clients.

Boom in Mobile Devices Brings Opportunities, Uncertainty

It isn't easy being a content provider when the potential ways in which customers may want their wireless programming served up is under flux.

Tuesday in the Valley

North Valley Regional Chamber of Commerce, Business 2 Business Networking Cluster

Santa Clarita Magazine Planned

When Claritaville magazine debuts in the Santa Clarita Valley in August, publisher Andrew Ansoorian is relying on what will set it apart is that it will be readership focused.

Difference Between Mediation, Arbitration ADR Procedures

I hear a lot about mediation and arbitration. I really don't know how one differs from the other. Can you explain?

Software Council Changes Name as Tech Sectors Grow

To better reflect its member companies, the Software Council of Southern California has changed its name.

Despite Predictions, No Cooling Seen in Office Market

Malibu Canyon Corporate Center in Calabasas is one of a number of office properties on the block, Senior Reporter Shelly Garcia reports.

Small Firm Sets Offering as It Competes in VoIP Market

InterMetro Communications Inc. in Simi Valley has filed an intention to go public as the market for its business, Voice over Internet Protocol stands poised for a growth spurt.

Friday, June 16

Deal Signed in Newbury Park

Motorcycle Accessories Maker Expands

Thursday, June 15

Bill Passes for Orange Line Improvements

Safety improvements are coming to the Orange Line busway following adoption Wednesday by the U.S. House of Representatives of a bill containing $500,000 for the project.

Proposal to Limit Exec Pay Turned Down

A proposal to allow shareholders to vote on executive pay packages was turned down by Countrywide Financial Corp. but not before winning a considerable amount of support.

Friday in the Valley

North Valley Regional Chamber of Commerce, Home Improvement & Real Estate Cluster

Wednesday, June 14

Power-One, Inc. Signs Global Supply Agreement With Ericsson

Power-One, Inc. has signed a global supply agreement with leading telecom supplier Ericsson, the Camarillo-based company announced Wednesday.

More Newcomers Set to Join The Oaks

Two retailers have been signed to join the lineup at The Oaks shopping center in Thousand Oaks.

Thursday in the Valley

North Valley Regional Chamber of Commerce, Women's Services Networking Cluster

Capstone Turbine Reports Loss

Capstone Turbine Corp. today reported it lost $11.8 million or $0.12 per share for the fourth quarter ended Mar. 31, compared to a loss of $10 million or $0.12 per share in the like period last year.

Chandler Tells Tribune Co. to Split

Citing erosion in the core businesses of Tribune Co. and failure to invest aggressively in new business, the Chandler Family suggested in a filing with the Securities and Exchange Commission made public Wednesday that the company should spin off its newsp

Tuesday, June 13

Hospital Workers Plan Strike

Union workers at three area hospitals plan to picket this Wednesday demanding better working conditions and alleging the facilities are understaffed.

Wednesday in the Valley

San Fernando Valley Business Journal, 10th Anniversary Reception

Younan Sells in Phoenix

Younan Properties Inc. has sold a Phoenix office building for $27.5 million.

Disney Launches Wireless Service

North Hollywood-based Walt Disney Internet Group has launched Disney Mobile, a wireless service aimed at families.

Lockheed Martin Acquires ISX

Information technology provider ISX will be acquired by Lockheed Martin in a deal expected to close later this month, the company announced Tuesday.

Monday, June 12

National Technical Systems Acquires B & B; Technologies

National Technical Systems, Inc. has acquired B & B; Technologies, a systems integrator based in Albuquerque, New Mexico, the company announced Monday.

HorseTV to Premiere Rodeo Program

HorseTV Channel will launch premiere episodes of Rodeo Nation Pushing the Barrier, an original series from the Calabasas-based broadcast company.

FDA to Review Amgen Cancer Drug

The U.S. Food and Drug Administration has agreed to review an experimental drug to treat colon cancer created by Thousand Oaks-based biotechnology company Amgen.

Record Ridership on Metro Orange Line

High gas prices are being credited with record ridership on the Metro Orange Line.

Tuesday in the Valley

North Valley Regional Chamber of Commerce, Business 2 Business Networking Cluster

Friday, June 9

Valencia Auto Dealer Honored

American International Automobile Dealers named Cheri Fleming of Valencia Acura "Dealer of the Year" for 2006.

3D Systems Converts Outstanding Shares

3D Systems Corp., a provider of 3-D printing, prototypes and manufacturing based in Valencia, announced Friday that all of its outstanding shares of Series B Convertible Preferred Stock were converted by shareholders into Common Stock on June 8.

Monday in the Valley

Encino Chamber of Commerce, Board Meeting

PowerRatings.net Introduces New Feature

The Sherman Oaks day-traders website PowerRatings.net has introduced a new tool on its website to identify objectively short-term moves in stocks.

Bob Hope Airport Generated $22 million for City of Burbank

The Bob Hope Airport contributed $22 million to the coffers of the City of Burbank, an analysis by the city released Friday showed.

Thursday, June 8

Hospital Sues Blue Cross for Policy Change

The California Hospital Association is suing Woodland Hills-based Blue Cross of California alleging that a new payment policy forces doctors to make medical decisions based on financial considerations.

Power Report Reveals Surprise

J.D. Power's just released survey on new-car quality turned up a surprise contender.

Friday in the Valley

United Chambers of Commerce, Small Business Awards Breakfast

BofA Offers Hybrid Rebates in L.A.

Employees of Bank of America in Los Angeles and other key cities will receive a $3,000 rebate if they buy a hybrid car, according to a program just announced by the Bank.

Semtech Signs Distribution Agreement

Semtech Corp. has signed a distribution agreement in which its semiconductors will be made available from the Digi-Key Corp, the companies announced Tuesday.

Wednesday, June 7

Thursday in the Valley

Encino Chamber of Commerce, Mixer

Cherokee Net Dips

Cherokee Inc. reported its net earnings dipped 2.9 percent to $5.9 million or $0.67 per share for the first quarter ended April 29.

Americana at Brand Gets Underway

Groundbreaking ceremonies will be held Thursday for Americana at Brand, the $264-million mixed use project under development by Caruso Affiliated.

North American Scientific Reduces Loss in Second Quarter

Chatsworth-based North American Scientific Inc. reported a loss of $3.6 million, or $0.21 per share, on revenues of $8.1 million for the second quarter of 2006.

Padilla, Feuer Winners in Primary

Los Angeles City Council member Alex Padilla won the Democratic primary Tuesday to represent the San Fernando Valley in the state Senate.

Tuesday, June 6

Bid4Spots Partners with Voice123

Encino-based Bid4Spots, online marketer for unsold radio advertising spots, announced Tuesday that it will partner with Voice123, an online database of voice-over talent, to assist clients in the radio advertising production process.

Younan Exits L.A. Market

Younan Properties Inc., which rose to prominence with an aggressive strategy of buying undervalued office properties mostly in the San Fernando Valley, has divested its last remaining L.A.-area building and will concentrate on other geographic markets.

Answer Financial Receives Leadership Award

Encino-based insurance agent Answer Financial has received a leadership award from the nonprofit Association for Cooperative Operations Research and Development.

Wednesday in the Valley

San Fernando Chamber, Board of Directors Meeting

Horse TV to Broadcast FEI Games

HorseTV Channel has inked a deal to broadcast the FEI World Equestrian Games.

NBC Workers Vote to Strike

Unionized workers at the NBC affiliate in Burbank have voted to authorize a strike after not having a new contract for over two months.

Monday, June 5

Dialing Into New Territory

Verizon Western Region President Tim McCallion has been spending a lot of time in Sacramento lately, keeping close tabs on a pending Digital Infrastructure and Video Competition Act of 2006.

Immigration Debate Brings Higher Profile to Company

Hired to create a video for a Latino hip-hop artist, Jason Pires and Modern Visual Communications didn't want to take the typical route.

As Firms Test Overseas Market, State Offices May Return

When Tarzana business owner Milt Morris went to France late last year for a building products trade show, he came away with what he called a priceless lesson.

Reak Estate Play Is On for Stores Federated Is Required to Divest

Store divestitures, required as a result of the merger of Federated Department Stores Inc. with May Department Stores Co., are leading to a real estate grab by shopping center operators.

NBC Pitches Parking Plan

NBC Universal will pave over a landscaped Los Angeles Water and Power easement in a proposal to meet the number of parking spaces required in a development agreement with the City of Burbank.

Tuesday in the Valley

Calabasas Chamber of Commerce, 11th Annual Calabasas Wine Tasting

THQ's Titan Quest Entering Manufacturing

Video game developer, THQ Inc. in Agoura Hills, in partnership with Iron Lore Entertainment, announced that the game Titan Quest has entered the final phase of development and will soon be ready for manufacturing.

Countrywide Opens Location in Manhattan

Calabasas-based Countrywide Financial Corporation will open a home loan and banking center in Midtown Manhattan, the company announced Monday.

Alliance Partners on Trade Website

The Economic Alliance of the San Fernando Valley has partnered with the Monterey Bay International Trade Office on a website to assist companies throughout the state looking to expand to overseas markets.

Private Client Network Helping CB in Difficult Market

Senior reporter Shelly Garcia talks to CB Richard Ellis about a strategy for capturing a larger slice of private investment sales.

Outside Forces Are Giving Retailers Jitters About Year

So far at least, sales have held up at major retail chains, but there is a growing concern that consumers will stop the spending spree they've been on for several years.

Jennings Named Interim Dean As CSUN Search to Resume

Dr. William Jennings, chair of California State University Northridge's finance, real estate and insurance department, has been named interim dean of the school's College of Business and Economics.

A Key to Success

Former flight attendant Sandy Stein took a simple idea and turned it into the core business for Alexx Inc.

A Different Solution to Runaway Production

While in Sacramento I found that a number of the legislators still believe that the bill would mainly put money into the pockets of very wealthy individuals and provide unnecessary benefits to a very rich industry.

Execs Hear Plans to Keep Jobs Here

Facing globalization and threats of a possible recession, Los Angeles City Councilman Greig Smith last week made his pitch to area business leaders about forming a business growth roundtable to discuss ways to bring more industries to the San Fernando Val

Long-Term Management of Madrid Theatre Uncertain

The long-term management of the Madrid Theatre in Canoga Park, which has been run by the Valley Cultural Center, is uncertain as the VCC's contract expires on June 30.

Small Retailers Could Get Stung As Ventura Boulevard Beautifies

Ventura Boulevard used to be a place where small retailers could go to get good bang for their buck, but landlords have recently been sprucing up properties and rents are climbing.

Breakthrough at The Oaks

When The Macerich Co. moved to acquire two of the anchors at The Oaks mall in Thousand Oaks, it bought the opportunity to expedite its renovation plans and design a center that is better suited to today's customers.

Cable Firms Say Proposed Fee Hike Excessive

Area cable companies are keeping close tabs on a proposal before the Los Angeles Department of Water and Power Board to raise the fee levied to allow cable to be strung on department-owned poles.

Meridian Health Files Chapter 7 Bankruptcy

Meridian Health Care Management Inc. has filed bankruptcy, although the company once saw impressive growth.

Candidates Go Into Home Stretch for Primary Campaign

Voters go to the polls June 6 to elect the Democratic candidates seeking positions from the governor to secretary of state, treasurer, controller, attorney general, assembly members and senators, and the candidates are optimistic about their chances.

Owners Should Check Their Retirement Plans

Financial Advisor, Thom Richardson Jr. suspects most businesses haven't the slightest idea of whether their retirement plan is serving their needs or not.

Rosali Cleaners Introduces New Cleaning Process

North Hollywood-based Rosali Cleaners has introduced a new environmentally-safe cleaning process.

How Can You Determine Worth of Your Business?

For many owners, the answer to one question determines their eagerness and ability to leave their companies: "How much is my business worth?" This question is indeed critical.

Newsmakers

Newsmakers

Valley Firm Seeks to Change Image of 3-D Movies

Companies like In-Three are trying to provide 3-D movies, but until there is more product available, theatres are reluctant to adopt the technology.

Friday, June 2

Sherman Oaks Marketer Acquires Co.

Innovation Holdings has acquired a developer of non-prescription remedies.

Arbitrator Puts End to Years-Long Scandal

An arbitrator decided in favor of Beverly Hills Bancorp in connection with a claim that it owed a former executive $2 million.

Thursday, June 1

Friday in the Valley

Studio City Chamber of Commerce, First Friday Breakfast Club

Lee & Associates Sells Industrial Property for $2.56 million

Steve Scott, LA North/Ventura senior vice president of Sherman Oaks-based commercial real estate brokerage Lee & Associates closed a $2.56 million sale of an industrial building in North Hollywood.

Newnham Enters U.S Market

Britain-based semiconductor manufacturer Newnham Technology is entering the United States market with the aid of public relations company, The David James Agency.