Stories for September 2006
Friday, September 29
Federal regulators instructed the banking industry to explain the risks posed to borrowers from non-traditional mortgage loans such as interest-only mortgages and said they would use the guidance in auditing banks' operating procedures.
The Thousand Oaks drug giant Amgen Inc. has acquired a privately-held biopharmaceutical company based in Mountain View, Calif.
The Valley Economic Development Center Women's Business Center has received the Mentorship Award from Dialogue on Diversity, a Washington, D.C., nonprofit that links global communities across ethic, cultural and racial lines.
Thursday, September 28
A follow-up audit by Los Angeles City Controller Laura Chick of the Community Redevelopment Agency has found the organization is too slow in reforming its loan programs for developers, affordable housing project and profit sharing with builders.
Power-One Inc. signed an agreement to purchase the power electronics group from Magnetek, Inc., the company announced Thursday.
The MTA is accepting bids in the first phase of a plan to extend the Orange Line to Chatsworth, officials said.
Rory Ferlauto, Don Hudson and Nancy Uy have joined Colliers International as senior vice presidents.
Wednesday, September 27
Burbank-based exhibit and museum designer BRC Imagination Arts has been selected to redesign the visitor centers at the Virginia and Louisiana state capitol buildings.
Swedish retailer Hennes & Mauritz AB, which has begun a major push into the Southern California marketplace including new stores planned in the San Fernando Valley, today reported that its third quarter earnings rose 18 percent to the equivalent of $347 m
The Employment Development Department hosts its San Fernando Valley community resource and career fair.
The Food and Drug Administration Wednesday approved a drug developed Thousand Oaks-based Amgen Inc. to treat advanced colon cancer.
The Westlake Village fruit giant Dole Food Co. Inc. has started a buy-sell process with the UK produce importer JP Fruit Distributors Ltd.
Westlake Village-based ValueClick Inc. said today its PriceRunner engine has signed 10 new retailers.
Tuesday, September 26
Meggitt PLC has paid $32 million for a Texas manufacturer of air conditioning, heating and ventilation systems for business and general aviation aircraft, the company has announced.
Color Me Mine Enterprises Inc., a franchisor of paint-your-own-ceramics studios, is relocating to Glendale after purchasing a new headquarters building.
Monday, September 25
The Santa Clarita Valley Chamber has teamed with local law enforcement to help local businesses curb crime after a recent spate of property crimes.
Superior Industries Inc. sold its suspension component business to a French firm, the company has announced.
A Woodland Hills global development financial firm has gotten a prized $1 billion contract to build one of just 10 terminals that will supply China with Liquified Natural Gas.
A look at the people and groups that are giving in the Valley.
So far at least, the Valley seems to have a distinct hometown advantage when it comes to much of television's filming choices, but some wonder how long it will last.
The Walt Disney Co.'s decision to start selling a library of feature films through Apple's iTunes is off to a blockbuster start, Mark Madler reports.
PR Executive Finds Success With Line Of Kids Products
Billy Blanks World Training Center in Sherman Oaks is moving.
A look at the businesses and people of the San Fernando, Conejo, Santa Clarita and Simi valleys.
Image Entertainment's David Borshell discusses the company's attempt to fend off suitor Lionsgate Entertainment.
Forget Tom Cruise. The Valley's economic wagon is hitched to a different star below the line workers from technical crews, to caterers who are the backbone of the entertainment industry.
The new trend of health clinics inside drug store or grocery markets has mostly missed California, but for how long?
Addressing backlog of cases and crafting longterm plans top list of concerns for city planning department, new head says.
Jason Schaff gives kudos to the Valley Industry and Commerce Association for standing up to Mayor Antonio Villaraigosa.
MGA Entertainment, maker of the popular Bratz doll products, is buying the former Los Angeles Times printing plant in Chatsworth, Shelly Garcia reports.
With all the advances in technology, Martin Cooper asks, When's the last time you stopped and smelled the roses?
The Los Angeles Unified School District and labor officials have agreed to a slightly revised set of health benefits for union workers.
Quality of life and safety are among the top reasons Agoura Hills residents like living in the city, a study has found.
A brownfield in the heart of Santa Clarita has been acquired by a partnership that is expected to finally get the project moving forward.
This year's TV selling season is shaping up to be a competition of Super Bowl proportions.
Countrywide Financial Corp. said today that it has introduced an auto insurance product in Arizona.
The Macerich Co. today said it has completed a letter of intent with Nordstrom, which will be joining The Oaks mall in 2008.
The Family Business Center at CSUN kicks offs its lineup of small business seminars.
California United Bank is getting ready to open its third branch after just over a year in operation.
Is there really a way to protect your great ideas from getting swiped?
Changes in rules governing camera operators and directors of photography have made who is behind the lens a contentious issue in the entertainment industry.
While it's the director who may get most of the credit for a film, it's the colorist who is really in charge of what viewers see.
If you spot a celebrity using a product you developed and you snap a photo, can you use it as a celebrity endorsement?
The same turnaround specialists who took Big Dog Holding public have worked their magic on The Walking Company.
How a mother of two concerned about her daughter's rash turned into a baby product chain in 400 stores.
A report has found that weaker credit is shaping up to be a regular force in the real estate business, Chris Coates has found.
Friday, September 22
InterMetro Communications, which several months ago filed its intention to go public, said today that it planned to open on the American Stock Exchange next week.
The Small Business Development Center and the U.S. Small Business Administration in partnership with Metropolitan Water District of Southern California hold a workshop on the government procurement market.
Thursday, September 21
Douglas Emmett inked a five year deal for 15,000 square feet of office space at Trillium in Woodland Hills.
In its first night of new programming Wednesday, Burbank-based The CW was the top-ranked network in eight of the top 10 markets for women viewers and in seven of the top 10 for adult viewers, the network reported.
A government report shows that the number of workers filing jobless benefits claims grew by 7,000, higher than expected.
The Valley Industry and Commerce Association Thursday endorsed a $1 billion housing bond to build affordable housing in the city.
Los Angeles City Attorney Rocky Delgadillo called for an end to the city's business tax during an address to the Los Angeles Chamber of Commerce Thursday.
McDonald's is testing a new kitchen system that will make it possible to order breakfast all day.
The California State University Board of Trustees has approved renaming a CSUN school after former California Lieutenant Governor and record executive Mike Curb.
AT & T; has indicated that it plans to add 2,000 technical support positions it previously earmarked to outsource.
The Santa Clarita Valley Chamber of Commerce holds its health care committee meeting.
Wednesday, September 20
Tuesday, September 19
Amgen Inc. on Tuesday was granted licensing rights to a patent used in the cancer drug Erbitux.
Third District City Councilman Dennis Zine introduced a motion Tuesday to offer a $75,000 reward to catch a group of brazen robbers targeting Valley restaurants over the past two years.
A deal has been struck to sell the Los Angeles Times' Chatsworth facility to MGA Entertainment, the makers of Bratz dolls.
Monday, September 18
Paul Wylie, founder and CEO of Metrocities Mortgage in Sherman Oaks, will join a panel discussion addressing the housing bubble, or lack thereof.
Diodes Inc. was among the top 100 fastest growing companies as chosen by Fortune magazine, the company announced Monday.
Magnatek Inc., a Chatsworth-based maker of digital power controls, said today that the New York Stock Exchange has accepted its plan for continued listing.
Friday, September 15
California United Bank has received regulatory approval to open a branch in Santa Clarita Valley.
California Lutheran University in Thousand Oaks was ranked 17th on the list of top schools offering bachelor's and master's degrees on the west coast in a study of higher education institutions by the magazine "U.S. News & World Report."
The Sherman Oaks Chamber of Commerce holds its neighborhood council land use meeting.
The number of people turning to public transportation instead of cars is on the rise.
Semiconductor supplier Diodes Inc. restated its third quarter guidance this week due to higher than expected revenues, the company announced.
Thursday, September 14
Business leaders from the San Fernando Valley joined a group urging the Tribune Co. to make no additional staff cuts at the Los Angeles Times.
Woodland Hills-based 21st Century Insurance Co. is the latest company to start basing its auto insurance premiums off a motorist's driving record instead of where he or she lives.
Countrywide Financial Corp. said mortgage loan fundings fell again in August to $40 billion, down 24 percent compared to August, 2005.
Precision Dynamics Corp. expects to hire as many as 45 new employees following its acquisition of the wristband identification product line from an Illinois company.
Wednesday, September 13
J.D. Power and Associates has acquired a top market strategy and information firm specializing in Asia's car markets, the company announced.
HealthCare Partners Medical Group plans to open a new medical spa at its medical building in Glendale.
Centex Homes received the highest ranking for customer satisfaction in the Los Angeles and Ventura counties in the recently released New-Home Builder Customer Satisfaction Study by J.D. Power and Associates.
Tuesday, September 12
A U.S. District Judge has granted an accelerated hearing for a patent-infringement suit by Thousand Oaks-based Amgen Inc.
Comerica Bank has named business development officers for three of its SBA lending offices.
The owner of West Hills Hospital and Medical Center and Los Robles Regional Medical Center in Thousand Oaks and workers have agreed to a new contract after 15 days of negotiations.
The city is waiving most of the fees it charges to production companies for use of city facilities to encourage more film and television productions locally.
The Universal City/North Hollywood Chamber of Commerce hosts its cluster meeting.
Monday, September 11
It appears that the California Legislature has finally figured out how to solve the problem of illegal immigration. No, it isn't at the border.
Banks have actively cultivated retail Hispanic customers, but not so when it comes to the commercial sector.
When a mixer took place recently for California State University Northridge's Family Business Center its short-term goal was to get its name out to the public and those businesses that could benefit from its services.
Blue Cloud Movie Ranch in Saugus has done a steady business renting its realistic Mexican market, Army camp and countless other sets to film companies since it opened six years ago.
After riding high on a sturdy economy and low interest rates, the banking and finance industry is showing signs a shift may be underway.
With the minimum wage set to increase to $7.50 Jan. 1, what's a business owner to do?
Valley financial institutions are scrambling for mid-market businesses.
The trendy mecca of fashion, H & M;, is coming to both ends of the San Fernando Valley.
Burbank and Glendale were among six cities awarded the 2006 Helen Putnam award from the League of California Cities for participating in a regional radio system that allows communication across various cities in Los Angeles County.
A 10-unit apartment complex in Panorama City was sold for $1.5 million.
This regular feature focuses on philanthropic activities by Valley-area companies and businesspeople.
Roger Pascoe would like to see the C-17 Globemaster III continue in production beyond 2009. It's a decision that's out of his hands.
Valley hoteliers are reporting a shortage of job candidates for open positions.
The former Northridge Hospital Medical Center Sherman Way campus has been sold.
The number of single family home sales in the San Fernando Valley fell nearly 33 percent to 825 in August and median home prices remained relatively stable compared to the year-earlier figures, according to data just released by Southland Regional Associa
Sunday mornings may be a time of rest but for Paul Dergarabedian it's a time to crunch numbers.
MGA Entertainment, the creator of the popular Bratz line of dolls, entered into an agreement Tuesday to acquire the Little Tikes business unit from Newell Rubbermaid Inc.
The Air Group has a new program to deliver a less costly fuel to private and corporate jet owners at Van Nuys Airport.
A Valley business group is offering loans to businesses that want to bulk up on security in light of the recent spate of restaurant hold-ups.
Television and movie productions have increased 10 percent this year in Santa Clarita.
A Hispanic-run bank is in organization in Glendale.
The legislature's move to increase the minimum wage has some local business owners worried.
A looks at what's happening in the Conejo, Santa Clarita, Antelope, San Fernando and Santa Clarita valleys.
The Los Angeles chapter of the American Electronics Association has taken an active role in trying to persuade federal lawmakers to increase the number of foreign workers allowed in high-tech jobs in the United States.
The Camarillo semiconductor company Semtech Corp. is dealt yet another blow.
The Business Journal contacted some local businesspeople and public officials to get their feelings on the fifth anniversary of the 9/11 terror attacks.
CytRx Corp., an L.A. drug maker with a director well known in the Valley business community, has received $24.5 million for Lou Gehrig's disease research.
Five years after Sept. 11, a report finds more companies are buying terrorism insurance.
Friday, September 8
The Ronald Reagan Presidential Library and Military Connection host the first annual Simi Valley Freedom Walk in observance of September 11.
Steve Elam will step down Sept. 22 as director of administrative services for Simi Valley, the city has announced.
Stanford Kurland, who has been with Countrywide Financial Corp. for 28 years, stepped down from his role as president and chief operating officer.
Comerica Bank plans to open 10 banking centers in California in the next six months.
Thursday, September 7
The city's Affordable Housing Trust Fund, has yielded $1 billion since funding began in 2003, public officials said.
Cherokee Inc. reported net income rose 8 percent to $4.9 million or $0.56 per diluted share for the second quarter ended July 29 on revenues of $12.4 million.
Wednesday, September 6
Warner Bros. Television Group this week launched Studio 2.0, a production venture to create content for broadband and wireless devices.
The law office of William C. Staley offers a seminar on offering stock to employees and other incentive programs.
Tuesday, September 5
CORRECTION: The new Robbins Bros. store in Houston is located near the Galleria, not in the Galleria as previously reported.
Home prices around the country registered their smallest gain in more than six years, according to a report just released by the Office of Federal Housing Enterprise Oversight.
The North Valley Regional Chamber of Commerce hosts its health and wellness networking cluster.
Friday, September 1
Engineers & Architects Association officials and the city inked a deal Friday to keep key city workers on the job.
The Regional Black Chamber of Commerce San Fernando Valley hosts its annual Labor Day business expo and health street fair.
FilmL.A., the city-county agency that handles film permits for the region, will no longer process insurance for production companies shooting on location in Los Angeles.
The Encino Wellness Center has shut down after its corporate parent terminated an agreement with the center's operator.
Internet service provider ISWest landed for the fourth time on a list ranking the fastest growing technology companies in Southern California, the company announced Friday.