Stories for November 2006
Thursday, November 30
Calabasas-based online banking software provider Digital Insight Corp. has agreed to be acquired by Intuit Inc., makers of TurboTax, for $1.35 billion.
The Chatsworth/Porter Ranch Chamber of Commerce holds its seventh annual state of the community breakfast.
The cost of managed healthcare in California has passed the national average for the first time, according to a report released by the California HealthCare Foundation.
Wednesday, November 29
Nestle SA is mulling the purchase of Gerber Products Co., according to a published report in the Wall Street Journal.
Sales tax generated in Santa Clarita increased 3.3 percent during the second quarter from the same period in 2005, according the city statistics released Wednesday.
CarMax Inc. increased its presence in the Los Angeles market with the opening of its Burbank superstore Wednesday, the company's sixth location in the region.
Macerich, owners of the Panorama Mall and The Oaks, has named Tony Grossi executive vice president and chief operating officer.
The Los Angeles Unified School District Board of Education has approved a plan to construct a high school on the site of the Granada Hills Community Hospital.
A Los Angeles Superior Court judge ruled Wednesday that Precision Dynamics co-founder Walt Mosher had not proven allegations of an improper election of two members to the company's board of directors.
Tuesday, November 28
Adventist Health/Home Care Services, part of Glendale Adventist Medical Center, was named to the 2006 HomeCare Elite list, a ranking of the top 25 percent in home care services.
Carriage Services Inc. has agreed to purchase the Conejo Mountain Funeral Home and Memorial Park in Camarillo, the Houston-based company announced.
A Nasdaq panel this week decided to put off making a decision on delisting the semiconductor maker Semtech Corp. in order to give the company additional time to restate financial results from earlier this year.
IHOP Corp. got a little egg in its face when an employee at one of its franchise operators in Quincy, Mass., insisted that a customer provide a photo I.D. in order to be seated.
Simulations Plus Inc., a Lancaster pharmaceutical modeling software developer, has released a new version modeling product for drug makers.
Monday, November 27
The Valencia drug maker MannKind Corp. said it plans to offer 17.5 million shares of stock and $100 million in senior convertible notes in separate public offerings.
The percentage of first-time buyers who can afford a home in Los Angeles County has fallen again.
Countrywide Financial Corp. has launched its auto insurance in four states.
The Food and Drug Administration has allowed Valencia drug maker MannKind Corp. to begin human testing on a cancer treatment it is developing.
Friday, November 24
The Federal Trade Commission has given the green light to the acquisition of Trammell Crow by CB Richard Ellis Group Inc., Trammell Crow Co. said today.
Wednesday, November 22
Guitar Center has agreed to purchase the assets of The Woodwind & The Brasswind, a music retailer in South Bend, Ind. that is currently in bankruptcy.
The Santa Clarita Planning Commission has approved the master plan for Henry Mayo Newhall Memorial Hospital.
Video game publisher THQ, Inc. received a letter from Nasdaq that it is not in compliance to be listed on the Nasdaq Stock Market, the company announced Wednesday.
Bob Hope Airport in Burbank is adding more drop-off zones and traffic cops today through Sunday to stymie the logjam of traffic expected during the busiest travel period of the year.
The Los Angeles City Council officially passed a motion Wednesday to require a dozen hotels near Los Angeles International Airport to pay workers a living wage, igniting fear in the business community that the ordinance sets a dangerous precedence that co
ABC Television hits "Lost" and "Desperate Housewives" will be made available via Comcast Corp.'s video-on-demand service in select markets under a new agreement reached between Comcast and the Walt Disney Co.
Tuesday, November 21
The Mid Valley Chamber of Commerce holds its annual chamber of commerce and service club Thanksgiving lunch.
A 14-unit apartment complex in Valley Village was sold for $2.3 million.
A new health center has opened to serve the uninsured of the Santa Clarita Valley.
The Los Angeles Board of Airport Commissioners is trying a second time to get commercial air service at Palmdale Airport.
Mattel Inc. has filed a lawsuit against Van Nuys toymaker MGA Entertainment Inc. alleging the company stole its concept for the popular Bratz doll line.
Officials at The Cheesecake Factory will give back a reported $1 million in pay they received as a result of improperly dated stock option grants.
The Los Angeles County Board of Supervisors approved a plan Tuesday to design and build a $98 million ambulatory center in Lancaster to replace the High Desert Hospital that was converted to an outpatient center in 2003.
Monday, November 20
Take a look at the Santa Clarita economy, says Editor Jason Schaff.
L.A. Daily News parent MediaNews Group is one of seven media companies joining a partnership with Yahoo! to deliver online advertising and news content.
When it comes to quickly expanding companies, how much is due to merit versus the growing sector the firms inhabit?
A behind-the-scenes look at how tech companies on the move stay ahead of the industry curve.
The secrets behind the auto dealers that are doing well despite the troubled market for the industry.
Farmers Insurance has opened a 120,000-square-foot, national employee training center in Agoura Hills.
Why did the Northeast Valley, the area's only enterprise zone, get bumped?
Exaktime creates a revolutionary product that's a boost for the construction industry.
Ira Rosenblatt answers the question: What to do if you feel you're overpaying for property?
A pair of former CB Richard Ellis brokers have formed a new brokerage, Senior Reporter Shelly Garcia writes.
Countrywide Commercial Real Estate Finance has closed a $183 million loan to Westcore Properties LLC, the company said today.
Family Firms Should Establish Policies for Theft, Big and Small
It's a constant battle for entrepreneurial businesses: manage the day-to-day operations or plan for future growth.
Capstone Turbine Corp. is negotiating an agreement with two other companies to develop, produce and sell gas turbine commercial vehicle engines, the company announced.
New CEO Takes Reins at Glendale Adventist Hospital
A new economic report traces the future of the North L.A. economy.
Drug maker Roche Holding AG said over the weekend that a clinical trial for its anemia drug Cera showed it worked as well as Thousand Oaks biopharmaceutical giant Amgen's Aranesp.
The Encino Chamber of Commerce holds its business and professional development luncheon.
Calabasas-based 24/7 equine programmer The HorseTV Channel has added several new shows to its lineup.
Reporter Chris Coates examines the possible repercussions of the Democrat-controlled Congress on the biotech business.
Henry Mayo Newhall Memorial Hospital emergency room opens.
Performance artists, painters and sculptors were on hand at the ribbon cutting ceremonies for the opening of the Lofts at Noho Commons this morning.
A Sherman Oaks modeling agency that fueled the growth of the Valley's adult-film industry is closing.
Retired California Supreme Court Justice Chosen for Fernando Award
Tech company finds flexibility helps it rise in growth market.
The recent numbers released by the Record Industry Association of America are not encouraging
Many of this year's fastest growing companies provide the basic services people and businesses need.
David L. Brewer III, the new Los Angeles Unified School District superintendent, sits down with the Business Journal.
Martin M. Cooper asks, "We get what in return for four more years?"
Friday, November 17
Federated Department Stores has sold its Bridal Group including David's Bridal to an L.A.-based private equity firm for about $750 million.
A judge expects to reach a decision later this month in the breach of duty lawsuit between the co-founder of Precision Dynamics Corp. and company executives.
An aide to Gov. Arnold Schwarzenegger has been appointed vice president at the managed healthcare provider Health Net Inc.
A vice president for the Chatsworth medical device maker Iris has resigned from the company.
The Sherman Oaks Chamber of Commerce holds its neighborhood council land use committee meeting.
Thursday, November 16
United Online, Inc. launched its new DSL service available to customers in 21 states, the company announced Thursday.
The shopping center development firm NewMark Merrill Cos. was named the fastest growing private company in the San Fernando Valley region at a Wednesday evening award ceremony hosted by the San Fernando Valley Business Journal.
Registrations for new vehicles in California are expected to decline next year, according to a report released Thursday by the California Motor Car Dealers Association.
Wednesday, November 15
The San Fernando Valley Economic Research Center at California State University Northridge has received a national award for its annual economic report.
The City Council has voted unanimously to reduce the city's business tax and reconfigure the number of tax categories for businesses.
The Los Angeles City Council voted Wednesday to give preliminary approval to a package of bills changing how 12 hotels along Century Boulevard near Los Angeles International Airport pay its workers.
A longtime planning commissioner for the city of Simi Valley will not seek another term after a dozen years on the board.
The number of single-family homes sold in the San Fernando Valley during October dropped 22.7 percent from a year ago, another sign of a readjusting Southern California housing market, according to a study of housing trends by the Southland Regional Assoc
The Woodland Hills blood products and service provider HemaCare Corp. reported third quarter 2006 revenue increased 18 percent from the same 2005 period.
Tuesday, November 14
The Sherman Oaks Homeowners Association holds its community meeting to discuss the state of crime in the Valley with special guest, LAPD Deputy Chief Michael Moore.
Many of L.A.'s largest public pension funds have committed a combined $65 million to create a private equity real estate fund to establish workforce housing projects in the city.
Antelope Valley Hospital today opened its new Women and Infants Pavilion, a $24.3 million complex on the southwest corner of the hospital's Lancaster campus.
As airlines continue to grapple with skyrocketing costs and packed airplanes, many are looking to cut down on how long planes are on the ground by instituting crafty ways of loading and unloading passengers at the gate.
Chatsworth-based cancer diagnostics and treatment product company North American Scientific Inc. received Food and Drug Administration approval to market a radiation design of the breast cancer treatment it development.
CalHFA-Sunrise Lancaster, a 152-unit apartment community in the Antelope Valley, was sold for $14.5 million.
Test systems provider Ixia will restate financial statements for four fiscal years because customer support and maintenance obligations had not been properly accounted for, the company announced.
Monday, November 13
Glendale Adventist Medical Center has upgraded a system to treat inoperable tumors in the spine.
Biopharmaceutical company Amgen Inc. will pay licensing partner Biopharmaceutical Medarex Inc. an unspecified payment after an antibody moved into clinical trials.
La Canada-based Sport Chalet Inc. will open its newest location in San Marcos, Calif., on Nov. 17, the company announced.
The Simi Valley Chamber of Commerce holds its membership development committee meeting.
Countrywide Financial Corp. has opened its 21st Southern California location in Calabasas.
Friday, November 10
A veteran healthcare administrator from the Pacific Northwest has been named chief executive of Glendale Adventist Medical Center.
On Assignment Inc., the Calabasas-based healthcare staffing company, has priced its secondary offering of 6.65 million shares of common stock at $10 each.
Santa Clarita hotels scored the highest occupancy rate during September in the region, according to a study of hotels in 16 areas of Los Angeles County released this week by the hotel industry firm PKF Consulting.
Countrywide Financial Corp. said today that it has applied to change the charter of its bank unit to a federal savings bank charter.
Thursday, November 9
The Walt Disney Co. ended its fiscal year with a 33 percent increase in its net income, the company reported Thursday.
The Simi Valley Chamber of Commerce holds its annual state of the chamber breakfast.
A report from the California Motor Car Dealers Association forecasts that car sales will remain slow during 2007 before returning to normal growth.
Countrywide Financial Corp. reported its mortgage funding declined 12 percent to $41 billion in October compared to October 2005 and 7 percent to $375 billion on a year-to-date basis.
Wednesday, November 8
Fiber optic component manufacturer Optical Communications Products Inc. will layoff up to 180 workers at its Woodland Hills facility next summer, the company has announced.
California United Bank said assets increased 12 percent to $159.7 million as of Sept. 30 from the prior quarter ended June 30.
Bob Franz has submitted his resignation as director of administrative services and finance for the city of Glendale.
Santa Clarita voters have approved a $160 million bond measure to improve the Valencia campus of College of the Canyons and construct a new facility in Canyon Country.
The Agoura/Oak Park/Conejo Valley Chamber of Commerce holds its 25th anniversary celebration.
Shoe Pavilion Inc. said today that it incurred a net loss of $318,000 or $0.03 per diluted share, for the third quarter ended Sept. 30.
Tuesday, November 7
A month after the Tribune Co. forced out the publisher of the Los Angeles Times, the paper's editor is also out the door.
The telecommunications company Alcatel has signed a $300 million agreement with the University of Pittsburg Medical Center to provide a IP communication system between its 19 hospitals and 400 clinics.
The North Valley Regional Chamber of Commerce holds its special events cluster.
Sport Chalet Inc. reported net income of $1.7 million or $0.12 per share for its fiscal second quarter ended Oct. 1 compared to a net loss of $5.2 million in the comparable period a year ago.
La Canada-based Sport Chalet Inc. will open its newest location in San Jose, Calif., on Nov. 10, the company announced.
Monday, November 6
Beverly Hills Bancorp Inc. today reported net income of $2.6 million or $0.13 per diluted share in the third quarter of 2006, down more than 40 percent from $4.4 million or $0.21 per share in the like period a year ago.
First, Katharine McPhee represented the Valley on American Idol. Now the show's whole production company is moving over the hill, Shelly Garcia has uncovered.
LTC Properties Inc., a Westlake Village-based real estate investment trust, reported net income available to shareholders of $6.8 million or $0.29 per share for the third quarter ended Sept. 30.
Retail sales were weaker in October, according to a new study.
New Mission Community Hospital CEO Heidi Lennartz takes her experience caring for people to running the small independent Panorama City facility as it continues on a growth track.
The Woodland Hills insurance company 21st Century Insurance reported that its net income for the third quarter increased 35 percent.
Find out how local businesses are preparing to battle the upcoming flu season.
Reality production companies in the Valley could benefit from NBC's programming changes.
Drug maker Amgen reported "encouraging results" from its Phase II trial of the experimental cancer drug AMG-706, which treats a type of gastrointestinal cancer.
New Wave Makes a New Space, But Keeps Some of the Old Alive Small Firms Offered Programs, But Is Anybody Really Listening?
Burbank-based company capitalizes on popularity of the exotic mojito cocktail among trendsetters.
It's time to stop misleading California voters, says Gregory N. Lippe.
A report shows the Valley economy did well in 2005 and 2006, but how long will it last?
Increased customer awareness and a larger number of shows led Tix Corporation to record business in October at its half-price ticket subsidiary in Las Vegas.
The Wal-Mart in Panorama City undergoes a massive makeover.
The Hollywood mainstay Panavision Inc. expands its portfolio and client list by picking up a camera rental company.
Santa Clarita is one of 23 new enterprise zones designated by the state, clearing the way for businesses in the city to receive tax breaks and other incentives to spur growth for the next 15 years.
Technology and code changes alter how firms operate, says Keith Todd.
The rapid growth of the Internet has made the intellectual property law an area of expertise in hot demand.
The electronic age has ushered in sticky problems with respect to the long-held right to privacy.
What happens when the product you created from scratch and built into a successful business starts being copied by competitors?
Why companies are taking fewer chances in the hiring process.
Cuts at the Los Angeles Daily News are part of a larger corporate strategy.
Reporter Chris Coates looks at whether the Dow Jones Industrial Average topping 12,000 is enough to breathe new life into the ailing IPO market.
Cherokee Inc. client Hot Kiss has struck an exclusive multiyear distribution deal with the major South Korean retailer, marketer and wholesaler YKI Inc.
The new head of the San Fernando Valley Bar Association sits down with the Business Journal.
A Valencia conference lets small business owners in on the tricks of the trade.
A look at the philanthropic activities of Valley-area companies and businesspeople.
A look at the news happening around the Conejo, Santa Clarita, San Fernando, Antelope and Simi valleys.
The Ventura County Economic Development Association is searching the San Fernando Valley for tech companies large and small to include in a new statewide database.
Friday, November 3
The Northeast Valley Enterprise Zone was eliminated Friday after a state panel did not renew its designation.
Move Inc., the Westlake Village-based online real estate information and marketing services company, said it earned $1.3 million or $0.01 per diluted share for the third quarter ended Sept. 30 compared to net income of $1.9 million or $0.01 per share in t
Spurred by strong sales of its new "Company of Heroes" and "Saints Row" games, video game publisher THQ, Inc. posted a $12 million net income for the third quarter, the company announced Friday.
United Online, Inc. increased its net profits by more than 6 percent for the third quarter, the company announced this week.
The Woodland Hills managed health company Health Net Inc. reported that its third quarter net income increased to $90.9 million, or $0.76 per diluted share, a 13.4 percent increase from third quarter 2005.
First California Bank parent FCB Bancorp reported that net income rose 71 percent to $1.3 million or $0.39 per share for the third quarter ended Sept. 30 compared to net income of $762,000 or $0.35 per share in the comparable period a year ago.
Glendale Water & Power has inked an agreement to buy electricity from a Wyoming wind farm.
Thursday, November 2
Police arrested a Northridge insurance broker who investigators say made off with more than three-quarters of a million dollars from senior citizens and their families.
The Studio City Chamber of Commerce holds its first Friday breakfast featuring guest speaker, Los Angeles City Council President Eric Garcetti.
The Calabasas professional staffing firm On Assignment Inc. plans to sell 6.65 million new shares of its common stock.
Research and development spending has sent third quarter losses skyrocketing for the Valencia biomedical pharmaceutical manufacturing Mann Kind Corp.
Wednesday, November 1
Earnings at Guitar Center decreased 27 percent to $11.3 million or $0.38 per diluted share for the third quarter ended Sept. 30, compared to net income of $14.4 million or $0.51 per share for the comparable period a year ago.
A slower pace of production and idle manufacturing plants contributed to Superior Industries International Inc. reporting a net income loss for the third quarter, the company reported Wednesday.
Better than expected sales in the consumer electronic industry led to a net profit of $12.8 million in the third quarter for semiconductor manufacturer Diodes Inc.
The chief executive of the Antelope Valley Hispanic Chamber of Commerce is leaving the position.
The Universal City North Hollywood Chamber of Commerce has launched a redesigned website.
The Chatsworth/Porter Ranch Chamber of Commerce holds its government relations committee meeting.
Van Nuys-based licensing company Cherokee Inc. said today that its board approved a $0.15 per share dividend increase to be paid in December.