Stories for February 2007
Wednesday, February 28
The California Transportation Commission on Wednesday restored funding for a carpool lane through the Sepulveda Pass that was part of a number of L.A.-area projects the commission earlier this month threatened to not fund.
Drug maker Amgen Inc. said it has received an informal inquiry from the Securities and Exchange Commission seeking additional information about a study of its anemia drug, Aranesp.
The Calabasas staffing company On Assignment Inc. reported its fourth quarter earnings increased 18.3 percent to $76.5 million for the period ending Dec. 31.
Santa Clarita experienced the second largest increase in median home prices in the state during January, according to a study by the California Association of Realtors.
Studio City-based Hallmark Channel is launching a new brand identity for the six-year-old network.
The Walt Disney Internet Group has signed an agreement with tech company Macrovision Corp. to distribute games to Europe and Australia.
Tuesday, February 27
The Woodland Hills insurance provider 21st Century Insurance Group plans to fire 4 percent of its workers, or 110 employees, the company announced Tuesday.
Indoor and outdoor wireless systems developed by Strix Systems were named product of the year by an international telecommunications organization, the company announced Tuesday.
Hurt by the poor box office of "Flushed Away," DreamWorks Animation SKG Inc. reported a net loss of $21.3 million for the fourth quarter, the company announced.
PS Business Parks Inc. reported net income fell to $3.7 million or $0.17 per diluted share for the fourth quarter ended Dec. 31, compared to net income of $4.9 million or $0.22 per diluted share for the comparable period a year ago.
Monday, February 26
Ixia has met requirements to continue being listed on the Nasdaq following the filing of restated financial statements, the company has announced.
Guitar Center Inc. said today it lost $40 million or $1.36 per diluted share for the fourth quarter ended Dec. 31 while net sales increased 11.7 percent to $628.5 million.
Forth & Towne, a much touted retail concept from Gap Inc., will be shuttered following an 18-month pilot program.
A former account vice president for a Valencia brokerage firm pleaded guilty today to conspiring to commit securities fraud.
Thousand Oaks drug maker Amgen Inc. has inked an agreement with a German pharmaceutical company to research products.
Mayor Antonio Villaraigosa on Monday expanded his economic development office with two veteran City Hall staffers.
Friday, February 23
Gene Brown, a lifelong Studio City resident and prominent certified public accountant until his retirement, died Monday, Feb. 19, following a long illness.
A Glendale skin care and massage business owner pleaded guilty Friday to conning insurance companies in to paying for procedures she wasn't performing.
Metro has approved $5 million in additional funding for interchange improvements at Magic Mountain Parkway and Interstate 5 in Santa Clarita.
Citrus cooperative Sunkist reported 2006 revenues of $1.1 billion, marking the best year ever for the Sherman Oaks group.
Move Inc. reported net income rose to $17.6 million or $0.09 per diluted share for the fourth quarter, compared to a loss of $4.6 million or $0.03 per share in the same period last year.
The Walt Disney Co. plans to expand its cruise business with the addition of two ocean liners.
Thursday, February 22
The CW and CBS Paramount Network Television have made available two of its shows on iTunes, with a third to follow next month.
Nexsan Technologies will unveil a new archiving device for use by the healthcare industry, the company announced Thursday.
U.S. sales dragged down financial performance at K-Swiss in the quarter and the year.
Wednesday, February 21
The Burbank City Council Tuesday voted down a contentious Whole Foods Market near the Rancho equestrian district.
The Los Angeles economy will largely hold steady this year and in 2008 although several key businesses mainly television and motion pictures may be at risk, according to a forecast released today by the Los Angeles County Economic Development Corp.
Wells Fargo has opened its first business banking office in Santa Clarita.
ValueClick, Inc. reported a 55 percent increase in its net profit for the fourth quarter over a year ago, the company announced.
Bank of Santa Clarita said today that its assets reached $108.6 million as of Dec. 31, up 73 percent from the prior year.
Whole Foods Market Inc. has agreed to acquire Wild Oats Market for $18.50 per share or about $565 million.
Power-One Inc. will be listed on a new index tracking the performance of publicly traded clean-energy companies.
Wireless communications systems from Strix Systems Inc. have been installed in automobile engine manufacturing plants in China, the company announced Wednesday.
Tuesday, February 20
Restructuring costs and stock based compensation expenses contributed to DTS Inc. reporting a $5 million net loss for the fourth quarter, the company announced Tuesday.
Work has officially wrapped on the expanded emergency department and trauma center of Providence Holy Cross Medical Center in Mission Hills.
Countrywide Commercial Real Estate Finance has provided a $106 million loan to Younan Properties Inc. for the acquisition of a Dallas office building.
Online wagering firm Youbet.com Inc. signed 2006 Trainer of the Year Todd Pletcher to an endorsement deal, the company announced Tuesday.
Monday, February 19
A 16,900-square-foot industrial building in North Hollywood has been sold for $2.05 million.
The Valley's myriad chambers of commerce are gearing up for the next chapter in the living wage issue.
Donation Will Help Valley Presbyterian Renovation; Fritz B. Burns Foundation Aids Surgery Upgrades
Box Bros. Corp. keeps pace with much larger competition by being creative.
Peterson Aviation is in a transition period after its purchase by mega-developer Robert Maguire.
Carlos Santiago has assembled an impressive Fortune 500 client list by really knowing the complexities of catering to the Hispanic market.
Columnist Martin M. Cooper discusses the role of politics and the latest "living wage" vote.
Westlake Village-based Dole Fresh Fruit Co. is recalling some of its cantaloupes after a grower in South America tested positive for salmonella
Solid planning, a good customer product and always thinking of succession are keys to a successful and profitable family business.
Blake Wire and Cable Corp. in Van Nuys has received a quality control certification that execs hope will heighten business.
An Encino music agent makes his mark on the film festival circuit, Staff Reporter Mark R. Madler has found.
Satellites studying geomagnetic substorms were sent into orbit by a rocket engine made by Pratt & Whitney Rocketdyne.
Small businesses have until Feb. 28 to get in on a lucrative tax break.
Inclusionary zoning was a divisive concept just a year ago. So why is it all but forgotten today?
Editor Jason Schaff tells us the best way to steal business from the Valley.
City and Valley officials called on the state to give L.A. its fair share of the nearly $20 billion in transportation bonds approved by voters in November.
A Tour de France-style cycle race through California is gathering attention in Santa Clarita.
A new retailer will make its debut in the San Fernando Valley as a result of the bankruptcy of Tower Records and the resulting vacancy in the Sherman Oaks Galleria, Senior Reporter Shelly Garcia has found.
The once white-hot Valley condominium market is readjusting to fewer buyers and a market brimming with units.
Special columnist Keith T. Zimmet on what's commonly known as the "conduit loan."
The U.S. Chief of naval operations will be recognized as the "Honorary Engineer of the Year" by the San Fernando Valley Engineer's Council at its 52nd annual awards banquet.
DTS Sees Strength in Impending Split of Two Divisions; Electronics, Digital Units Face Different Challenges
Average asking rents for apartments in the San Fernando Valley rose 7.5 percent to $1,550 per month in the fourth quarter compared to a year ago, according to data released by RealFacts, a tracking service in Novato.
After delays, Valencia BMW expects to open its new showroom in late March.
Friday, February 16
A just released real estate report found that there is virtually no industrial space to be had in some submarkets of the San Fernando Valley.
Mayor Antonio Villaraigosa on Friday launched a task force aimed at finding new ways of eliminating film and music piracy.
The Air Group has added two new planes to its fleet at Van Nuys Airport, the company announced.
The Calabasas City Council voted earlier this week to ban polystyrene, or Styrofoam, food packaging in the city.
Thursday, February 15
Westlake Village-based Cydcor Inc. has been acquired by a consortium of private investment firms and some of its management.
Shoe Pavilion Inc. said today that net income declined 21.1 percent to $971,000 or $0.10 per diluted share in the fourth quarter ended Dec. 30, on revenues of $11.3 million.
MRV Communications Inc. reported a second straight quarter of net income for the fourth quarter of 2006.
Dole Food Co.'s fresh fruit division launched a new website to provide information on its organic bananas operation, the Westlake Village-based company announced.
The dental PPO network Dental Blue by Thousand Oaks-based Blue Cross of California has become on the largest PPO networks in the state.
Chatsworth nutritional product maker Natrol Inc. is donating its energy tablets to U.S. troops in Iraq.
SunGard has acquired Aceva Technologies, a provider of receivables management software.
Wednesday, February 14
Cherokee Inc. has extended its licensing agreement with Tesco Plc through January 2011.
The city of Santa Clarita has entered the discussion about the future governance of several unincorporated cities west of the Golden State Freeway.
Software developer Market Scan Information Systems Inc. has acquired a privately owned provider of online training for $36 million.
Weak auto sales dragged down the retail sector in the month of January.
The Simi Valley City Council has voted to ban vendors from selling flowers, food or other products on city streets and sidewalks.
Expenses from a proxy fight with Lions Gate Entertainment, the closure of an overseas office and weak home entertainment content sakes contributed to Image Entertainment Inc. reporting a $3.4 million net loss for its third quarter.
Tuesday, February 13
Bank of Santa Clarita said today that it will open its first branch location in Canyon Country during the first or second quarter of 2008.
The Los Angeles City Council voted Wednesday to adopt a revised version of the controversial living wage ordinance it passed last year.
Warner Bros. Consumer Products and Crocs, Inc. have inked a deal to use super hero characters Superman, Batman and Wonder Woman on a line of shoes.
The California Association of Realtors has filed a suit against Blue Shield of California to stop the insurer from canceling coverage for more than 8,000 association members.
Countrywide Financial Corp. acquired the assets of CCM Futures LLC, a Chicago-based futures trading broker.
Strix Systems has received an investment from Samsung Ventures America to create a partnership between Strix and Samsung Electronics, the company announced Tuesday.
Monday, February 12
"Pirates of the Caribbean: Dead Man's Chest" swept the Fifth Annual Visual Effects Society Awards in Hollywood Sunday.
"Flushed Away," the joint animated feature from DreamWorks Animation and Aardman Animations, was the big winner at the 34th Annual Annie Awards Sunday night in Glendale.
A 14,727-square-foot building in Canoga Park has been sold for $2,280,000.
Valley Presbyterian Hospital in Van Nuys has received a $1 million grant from the Fritz B. Burns Foundation to design and upgrade operating rooms.
The Studio City-based Jewish Music Group received a big boost in getting its niche product before a broader audience after one of the label's artists won a Grammy award Sunday.
The City Council is scheduled to vote Tuesday on a revised version of the controversial living wage ordinance, which some business officials contend is a near carbon copy of the original measure.
The white-hot hotel Santa Clarita hotel market took a dive in December, dropping 10.5 percent from the same 2005 period, according to a study of hotel trends by PKF Consulting.
Friday, February 9
California United Bank said today its assets grew to $178.3 million and its loan portfolio increased to $94.2 million in its first full year of operations.
Mortgage lending picked up at Countrywide Financial Corp. in the month of January, increasing 13 percent to $37 billion as compared to January 2006.
Advanced Media Training Inc. has changed its corporate name to DeMatco Inc., the company has announced.
Thursday, February 8
Retail sales in January grew 4 percent over the January 2006, a weaker showing than last year, according to data just released by the tracking and consulting company Retail Forward Inc.
The Walt Disney Co. renamed its Buena Vista Games gaming division to Disney Interactive Studios, the company announced Thursday.
The Business Journal is accepting nominations for "The Top 25 Lawyers of the Valley," a special award recognizing the best and brightest practicing attorneys in the Valley area.
The Woodland Hills managed health care provider Health Net reported its fourth quarter profit increased 11 percent from a year ago, beating Wall Street predictions.
The Santa Clarita Planning Commission approved the final environmental impact report on the 25-year master plan of Henry Mayo Newhall Memorial Hospital.
United Online Inc. reported a 63 percent decrease in net profits in the fourth quarter when compared with the same quarter a year ago.
Circuit City Stores Inc. said today it plans to close seven non-performing stores in the U.S. along with a distribution center in Kentucky and 62 Canadian stores in a move to improve profitability.
Wednesday, February 7
After moving to extend Saturday hours by opening at 8 a.m., Northridge Fashion Center has moved its Saturday shopping hours back to a 10 a.m. opening time.
Academy Award-winning director Robert Zemeckis has inked a deal with The Walt Disney Co. to produce, distribute and market 3D films.
The Cheesecake Factory Inc. reported that net income declined to $20.4 million or $0.26 per diluted share for the fourth fiscal quarter ended Jan. 2, 2007, compared to $22.6 million or $0.28 per share in the comparable period last year.
Intuit Inc. said today it has completed the purchase of Digital Insight Corp. for $1.33 billion.
Preliminary figures from the Antelope Valley Film Office show a decrease in the number of projects filming in the area, including a sharp decrease in feature films.
Researchers from Columbia University have found a drug developed by Thousand Oaks biotech company Amgen increased the risk of blood cancer in some breast cancer patients.
Tuesday, February 6
Santa Clarita city officials and the building materials producer CEMEX Inc. will work together to find a solution to mining in Soledad Canyon, the two sides announced today.
Strong demand for its semiconductors from the computer and consumer electronic segments helped Diodes Inc. to a nearly 15 percent increase in profits for the fourth quarter, the company announced Tuesday.
Car Sound Exhaust System Inc. chose wi-fi products made by Xirrus Inc. for its new distribution center.
Arete Associates, a science and engineering company in Sherman Oaks, has selected Heery International to design its new Northridge headquarters.
NBC Universal today announced plans to revamp its CityWalk at Universal Studios Hollywood, the first move in a proposed plan to revitalize the hilltop theme park and studio.
Academy Award-winning director Robert Zemeckis has inked a deal with The Walt Disney Co. to produce, distribute and market 3D films.
The share of first-timers who bought homes in California dropped to 27.1 percent in 2006 from 30.5 percent in 2005, according to data released by the California Association of Realtors.
Monday, February 5
Find out how small businesses owners can tap into the revenue stream of a lucrative and often overlooked client.
High rents and lower occupancies could be the results of a recent move to unionize the region's security guards.
A number of Valley businesses are taking drastic steps to make their buildings environmentally sensitive
Reporter Chris Coates details the latest concerns the buy-out of 21st Century Insurance Group.
S.K. Ramesh, the new CSUN dean of engineering and computer science, thinks his new home is one of the best-kept secrets in the Valley.
Gregory N. Lippe wants to accelerate transportation projects.
Kellogg & Andelson acquires another Valley CPA firm, Heacox, Horn & Wheeler.
A delicate balance between confidentiality, discretion and disclosure are needed when managing firms, says Milan Slama.
The 'Dog Whisperer' may be moving to Santa Clarita, plus a look at other news shaping life in the Valley area.
Recent deals show Strength in retail real estate sector, says Senior Reporter Shelly Garcia.
California State University Northridge later this month will become home to the single largest fuel cell power plant at any university in the world.
DVD maker Technicolor is refocusing its business on new HD formats after firing more than 600 workers from its Camarillo plant.
No longer able to ignore the potential that exists in online advertising, Inter/Media Group started up a new business division and did so in a big way.
Inner-office squabbling and staff personality conflicts have been around forever. So why is it now taking so much of our time?
Involving Valley key to L.A. Area Chamber of Commmerce influence, says Nancy Hoffman Vanyek.
The proposed fiscal 2008 budget for U.S. Small Business Administration calls for an increase in spending on loan funding and disaster loan funding as well as SBA administration, reduced loan fees and a continuation of the SBA's Microloan program, the agen
In the darkened theater of the performing arts center at College of The Canyons, the images of the interior of the Bombardier Challenger 850 business jet came to life.
SCORE has done what any entrepreneur might do in tough times: it is adapting its business model to the new environment.
Running out of room at their current facilities, two aviation companies serving business travelers in the San Fernando Valley are building themselves new hangar and office space at Van Nuys Airport.
The San Fernando Valley Bar Association has created an arbitration program focused on lawyer fees.
It might come as a surprise, but the Valley area is home to a whole cadre of businesses focused on renewable energy and "clean" technology.
DataDirect Networks had unprecedented revenue growth in 2006, the Chatsworth company announced Monday.
Chambers of Commerce members sound off about value of membership.
San Fernando police chief says: Let's shed city's negative views.
Worlwide Aeros Corp. received Federal Aviation Administration approval for its Aeros 40D Sky Dragon, the Tarzana company announced.
The Van Nuys customization shop Galpin Auto Sports has signed a licensing deal with the mobile electronics company Al & Ed's Autosound.
Flush with billions of dollars to spend on acquisitions, the private equity market could change the face of corporate America for many years to come.
Ever wonder how a film gets its rating? Reporter Mark Madler finds the answer in Encino.
Columnist Richard Rosenberg says firms have to be careful when it comes to considering layoffs.
The United Chambers of Commerce honors its own.
The county has once again upped the budget to fix Olive View-UCLA Medical Center in Sylmar.
A Valley woman has been charged with stealing a Wisconsin woman's identity to make purchases at the Macy's store in Sherman Oaks over the holidays.
Two local retail real estate deals point up the continued strength of the sector in spite of the slowdown in retail sales recently.
An executive of a Chatsworth communications company has been named president of the Encino Chamber of Commerce.
Friday, February 2
Ixia received notice of continued listing on the Nasdaq Stock Market subject to two conditions, the company has announced.
Spurred by strong sales of games tied in with movies, wrestling and a cartoon show, THQ Inc. recorded a 32 percent increase in net profits for the third quarter of fiscal 2007.
United Airlines was chosen Friday as the airline to jumpstart commercial service from L.A./Palmdale Airport.
The Calabasas staffing company has completed its purchase of Oxford Global Resources Inc., a engineering and tech staffing firm based in Massachusetts.
A survey of existing homeowners revealed that 43 percent of women felt they did not spend enough time shopping for their home, while 23 percent of men said they spent too much time in the process.
A Valley entrepreneur who created a trendy keychain line is appearing today on "The Oprah Winfrey Show."
Thursday, February 1
Italian broadcaster Teletutto has acquired software made by a Burbank company to automate its scheduling and billing operations.
A Woodland Hills-based maker of thin filmstrips that deliver drugs and nutritional supplements has been acquired by a New York competitor.
Acorn newspapers opened a new office in Camarillo, the third location for the chain of weeklies serving the Conejo and San Fernando Valleys.
A record number of passengers passed through Bob Hope Airport in 2006, airport officials announced.