Stories for August 2007
Monday, August 27
MRV Communications Inc. can continue to sell its cross-connect technology after a lawsuit claiming patent infringement was settled.
Friday, August 24
Vitesse Semiconductor Corp. has sold off part of its storage products business in a move that will narrow the company focus on the networking and Ethernet markets.
Thursday, August 23
Liberman Broadcasting Inc. becomes the new home for Spanish-language Dodger radio broadcasts starting with the 2008 season.
Valley Presbyterian Hospital placed No. 5 among the top 20 Los Angeles Department of Water & Power Energy Efficiency Program participants for 2006.
The Service Employees International Union has filed six unfair labor practice charges against the owner of the Glendale Galleria, General Growth Properties, and two of its sub-contracted companies.
Wednesday, August 22
Health care workers held a "Rally for Quality Patient Care" at Encino-Tarzana Regional Medical Center in Encino on Aug. 21.
ADJ Finishing has been cleared of 16 counts of illegally dumping pollutants into city sewers. All charges against the Panorama City plating company were dismissed last month.
Two San Fernando Valley hospitals received funding from the state for their family practice residency training programs.
Pratt & Whitney Rocketdyne wrapped up a job fair Wednesday to fill 300 engineering and non-technical positions.
Tuesday, August 21
Optical Communication Products, Inc. reported a net loss for a third straight quarter for the 2007 fiscal year.
Aspyra Inc. narrowed its net loss for the second quarter compared with the same period from a year ago.
The Los Angeles Board of Airport Commissioners adopted a resolution to Aug. 21 to phase out the use of certain jet aircraft at Van Nuys Airport over a 9-year period.
The California Legislature approved the 2007-2008 state budget Aug. 21.
Monday, August 20
Finding enough quality accounting professionals to cope with a growing amount of work is a big problem for firms.
Amgen Foundation has made grants totaling $12.5 million to 10 colleges and universities to fund the first four years of the Amgen Scholars program.
Simi Valley has a premier tourist attraction in the Ronald Reagan Presidential Library but few grand hotels to service it.
Family businesses face a unique set of challenges: issues of succession, organizational and leadership development issues and problems associated with generational differences are just a few items on the list.
Voit Development to break ground on an industrial condominium complex.
Area accounting firms often have problems thinking about the future.
The Van Nuys Airport Citizens Advisory Committee rejected this month two resolutions backing a ban on certain types of jet aircraft used at the airfield.
The Board of Directors for Ixia approved the company buying back $50 million in its common stock.
Providence Holy Cross Gets "Baby-Friendly" Designation
The TOP Valley-area CPAs have established stellar reputations by carving out niches in their professions and offering consistently excellent service to their clients
Movement to require Home Depot take more extensive environmental measures.
The greater Valley area is full of mostly small and mid-size accounting firms but they are busy with business.
U.S. HealthWorks Medical Group, California's largest provider of outpatient occupational health care services, has acquired CentrePointe Medical Group in Gardena.
New Principal Aboard at Grant Thornton. Valley Businesspeople in the news, on the move...
California State University, Northridge, is launching a new master of science in taxation degree program in October.
Valley Film Fest Showcases Local Talent. A look at the people, places and things that make our valleys tick.
Health Net of California is providing a no-interest loan to Tulare County health clinics Tipton Medical and Pixley Medical, both of which shut down because the state's budget delay interrupted Medi-Cal funding.
Column by Jason Schaff, Editor of the San Fernando Valley Business Journal
Independent animation studio Mike Young Productions officially opened its new facility in Woodland Hills.
Burbank-based film equipment rental houses Coffey Sound and Wexler Video have branched out to open locations in North and South Carolina.
Companies become more aware of the problems of veterans in the workplace.
The Hilton Glendale, which has been under fire from local labor organizers, is under new ownership.
Are some firms getting too far into non-core areas of accounting?
Countrywide Financial Corp. has started laying off employees from one of its lending unites, news reports said Monday.
Final California sexual harassment training regulations issued.
The debut of a column for wine enthusiasts by Peter Goossens, the founder of the Loose Goose Wine Festival.
Health Net Calif. President Leads Company's Growth. New Initiatives, Local Focus Boost Enrollment and Earnings in 2007
Thursday, August 16
The Los Angeles City Council voted 12-1 Aug. 15 to require Home Depot to take additional measures to ensure that the environmental impact of its proposed store on Foothill Boulevard in Sunland-Tujunga will be insignificant.
A 3.5 magnitude earthquake shook the San Fernando Valley on Thursday afternoon.
Stockholders of 21st Century Insurance Group will meet next month to vote on a merger agreement with American International Group Inc.
Interlink Electronics Inc. sold its remote and branded products business segments to the U.S. division of a Tokyo-based company for $11 million.
Countrywide Financial Corp. drew on $11.5 billion in credit as a supplement to its funding liquidity position, the company announced.
Wednesday, August 15
Panavision Inc. has acquired the film cameras and lenses of Joe Dunton & Co., the company has announced.
Interlink Electronics Inc. narrowed its net loss for the second quarter when compared with the same reporting period from a year ago.
Biotech giant Amgen will lay off at least 2,200 employees and cut expenditures by about $1.9 billion due to an expected decrease in sales of two of its most used drugs.
Tuesday, August 14
United Online Inc. subsidiary Classmates Media Corp. filed for an initial public offering to raise $125 million.
QPC Lasers Inc. narrowed its net loss for the second quarter when compared with the same period a year ago.
A private investor has purchased an Encino shopping center for $41.1 million.
Novus Construction will build two fire stations in Palmdale for a combined cost of $19.2 million. The City of Palmdale donated the land and will share half the construction costs.
Costs related to a pending merger, the closure of a Las Vegas distribution facility and a dip in sales hurt the first quarter bottom line of Image Entertainment Inc.
Monday, August 13
Axcess Real Estate Services updated its Web site to allow for a wider range of search capabilities.
Luminent Inc. and Fiberxon Inc. will now be known by the name Source Photonics, the companies have announced.
A deal between CenterStaging Corp. and Comcast will make available performance rehearsals by major entertainers through a video-on-demand service.
Electro Rent Corp. posted a nearly 9 percent increase in net income for the fourth quarter when compared with the same period a year ago.
Friday, August 10
The California Motor Car Dealers Association cites high fuel prices, the softening housing market and debt-conscious consumers for the drop in new vehicle registration.
Electronic Clearing House Inc. reported a net loss of $682,000 for the third quarter when compared with the same period a year ago.
Thursday, August 9
Superior Industries International Inc. reported a 36 percent increase in net income for the second quarter when compared with the previous year.
IRIS International Inc. requested an extension to file its second quarter financial results due to emergency surgery for its interim chief financial officer.
California United Bank announced that it has completed a $20 million secured credit commitment to help Sherwood Country Club purchase the club from its original developer, Sherwood Development Company L.P.
DTS Inc. reported a $658,000 net loss for the second quarter when compared with the same period from a year ago.
The cost of opening new stores and a reduction in selling margins affected the second quarter financial performance of Show Pavilion.
Wednesday, August 8
Crown Media Holdings Inc. narrowed its net loss in the second quarter while at the same time boosting subscribers.
Electronic Sensor Technology posted a net loss for the second quarter.
Voit Development Company broke ground on its North Valley Commerce Center, an industrial park in Sylmar totaling approximately 200,000 sq. feet.
CHAD Therapeutics Inc. has received $3.5 million in financing from a private investor, the company announced.
Tuesday, August 7
A Burbank video equipment rental firm has opened offices in the Carolinas to capitalize on increased film and television production taking place there.
Net income dropped by 75 percent in the second quarter for Salem Communications Corp. when compared with the same period a year ago.
Youbet.com Inc. reported an income loss of $357,000 for the second quarter when compared with the previous year.
Internet service provider United Online Inc. posted a 40 percent increase in profits for the second quarter when compared to last year.
Net income dropped in the second quarter for Guitar Center Inc. due to costs related to a proposed merger with a private investment firm.
Monday, August 6
When Does a Firm Need To Register a Trademark? Column by Ira Rosenblatt, a business and corporate lawyer and a co-founder and director of Stone, Rosenblatt & Cha
Small Business Development Center Director Paul De La Cerda discusses the accomplishments of the organization in the past year.
Disney Veteran Takes Legal Post at New Wave. Valley Businesspeople in the news, on the move...
Testing of New Orange Line Ridership Urged. A look at the people, places and things that make our valleys tick.
Crisis in the ER: Where Did All Our Tax Money Go? Column by Rickey M. Gelb, managing partner of the Gelb Group A Family of Companies.
Community groups are upset that Providence Holy Cross hospital's expansion plans received the go-ahead without an environmental impact report.
Staff Reporter Mark Madler discusses some issues concerning public transportation.
Scott Firestone is the lead person in the regional office of the world's fourth largest insurance broker.
The Walt Disney Company has acquired Club Penguin, an online virtual world for kids ages 6-14.
Investor Paul Allen will sell 10 million shares of DreamWorks Animation SKG Inc. stock in a public offering.
The Economic Alliance of the San Fernando Valley and the eight adult centers of the Los Angeles Unified School District are launching a job training program called the Learning Alliance.
Greg Lippe writes his 50th column and finds that not a lot has changed in the last four years.
Wicked Smart Marketing is making a name for itself in the online interactive marketing arena.
Sylmar-based commercial refrigeration firm Anthony International buys a Georgia company and expands its product line.
The SBA has launched the Patriot Express Loan program, which streamlines the process for veterans to get money to grow an existing business or start a new one.
Despite many firms leaving the greater Valley area saying it is too expensive to do business here, some companies are quite content.
Senior Reporter Shelly Garcia writes her final column as she leaves the Business Journal.
A triennial study on health care in the San Fernando and Santa Clarita valleys indicates that while the number of uninsured is dropping, the number of households in poverty is rising putting severe strains on an already overburdened health care industry.
Integrated circuit developer Inphi will open a new design center in the Silicon Valley as part of its expansion campaign, the company announced.
Guest Column by Brendan Huffman, President & CEO of the Valley Industry & Commerce Assn. (VICA).
Location filming in Santa Clarita was at an all-time high in the 2006-2007 fiscal year. This resulted in an estimated direct economic benefit of more than $21 million to city businesses.
New Program to Help Entrepreneurs in Solving Problems.
A new power supply company, Red Rocket Inc., has been formed in Camarillo.
Owners and advocates of smaller companies discuss the top management challenges facing them.
UCC Mid-Year Update: Issues on the Front Burner. Guest Column by Debi Schultze, president & CEO of United Chambers of Commerce of the San Fernando Valley & Region.
Friday, August 3
Dennis Fenton is one of the Thousand Oaks biotech firm's longest-tenured staff members.
Thursday, August 2
Application could change how consumers and real estate agents interact.