Stories for July 2007
Tuesday, July 31
Negotiations with film and television writers may be behind a 21 percent increase in on-location production for the second quarter.
DreamWorks Animation reported a net income of $61.8 million for the second quarter, driven primarily by the big box office numbers of "Shrek the Third."
Shoe Pavilion Inc. said it expects to report a second quarter loss of about $1 million to $1.2 million or $0.10 to $0.12 per diluted share, compared to previous net income guidance in the range of $0.02 to $0.02 per share.
Monday, July 30
California Oaks State Bank said today it plans to open a permanent Simi Valley branch in April, 2008.
Battery manufacturer Zinc Matrix Power has changed its name to ZPower Inc. to better promote its brand recognition, the company announced.
State lawmakers need to make more effort to adopt a new budget, now more than four weeks behind the mandated deadline, the Valley Industry & Commerce Association said on Monday.
ValueClick Inc. downgraded its revenue and earnings estimates for full year 2007 after missing revenue estimates for the second quarter.
Friday, July 27
Santa Clarita ranked among the top five hotel markets in the Los Angeles area for May 2007, according to a report by PKF Consulting.
The Sylmar Neighborhood Council has withdrawn its support for a $146 million expansion project at Providence Holy Cross Medical Center.
Americas United Bank reported assets grew to $56.6 million in the second quarter, up from $34.4 million at year end, 2006.
Joel Balbien has resigned as CEO of Kreido Biofuels Inc., a Camarillo manufacturer of a device used in making biofuels.
Thursday, July 26
Ixia reported a net income gain of nearly 50 percent for the second quarter compared with a year ago.
Restructuring charges contributed to a net loss of $11 million in the second quarter for Power-One Inc., the company reported.
Teledyne Technologies Inc. had a 16 percent increase in net income for the second quarter when compared with the previous year, the company announced.
The Los Angeles City Planning Commission voted unanimously July 26 to approve the South Addition project at Providence Holy Cross Medical Center.
K-Swiss reported earnings plummeted in the second quarter of 2007 to $7.7 million or $0.22 per diluted share compared with earnings of $20.3 million or $0.58 per diluted share in the comparable period a year ago.
Wednesday, July 25
European antitrust authorities have alleged violations by a subsidiary of Dole Food Company Inc.
Earnings at IHOP Corp. and The Cheesecake Factory, the San Fernando Valley's largest restaurant companies, both beat analyst's expectations for the second quarter of the year.
The board of directors of CinemaElectric Inc. chose Hawkins Accounting as the firm's new independent accountants, the company announced.
The Walt Disney Co. will eliminate smoking in its Disney-branded films the first major studio to make such a move, according to news reports.
A study of healthcare needs in the San Fernando and Santa Clarita valleys found that residents continue to face challenges having their health needs met.
A subsidiary of Teledyne Technologies Inc. received a $15 million military contract to develop infrared sensor missile warning and defense applications, the Thousand Oaks-based company announced.
MRV Communications Inc. narrowed its net loss for the second quarter compared with the previous year, according to financial statements released Wednesday.
Tuesday, July 24
Countrywide Financial Corp. reported earnings plummeted 33 percent in the second quarter to $485.1 million or $0.81 per share on a 15 percent revenue decline.
Wells Fargo announced the launching of Wells Fargo Mobile SM service, a mobile banking service.
VAN NUYS Cherokee Inc.'s board of directors approved a quarterly dividend of $0.75 to shareholders of record on Sept. 1, 2007.
Two public meetings will take place for Metro to hear comments on a proposed extension of the Orange Line busway.
MyNextDeal.com, the search engine for commercial real estate listings, has inked a deal with Florida Real Estate Journal.
Monday, July 23
Have You Got Class? Take This Quiz. Our Changing Valley By Martin Cooper
Mosher Loses Another Fight Over Precision Dynamics
DRIVING E-COMMERCE - Chuck Harris adds CEO to his duties at Camarillo-based Electronic Clearing House
To gain a competitive edge, banks are tapping into different forms of technology, such as mobile banking and E-Deposit, geared toward the younger generation.
Businesses in the San Fernando Valley and surrounding regions can now benefit from the expansion of the Los Angeles Enterprise Zone
Online wager firm Youbet.com Inc. will cut $5 million from its budget following a poor second quarter from two subsidiaries.
Local car dealerships react differently as vehicle sales slow.
A look a the Top 25 Bankers of the San Fernando Valley
Solar module manufacturing company Solar World California sees its home state of California as a large market for its business.
Venture capital investment in the L.A. area rose to $459.2 million in the second quarter, up from $182.5 million for the second quarter of 2006, according to a report just released by Ernst & Young LLP and Dow Jones Venture One.
QT Chicago Dogs' owner Ali Esmail talks about the serious business of Chicago-style hot dogs in Los Angeles.
Delgadillo's Opinion Draws Reaction Over Panels' Roles
Jim Glenn explains the reason for moving his manufacturing company Titan Spring & Wire Products, Inc. from California to Idaho.
Clients and prospective clients are being offered financial literacy and mentoring services by banks.
Banks are struggling to hire people who have the right skills for the workplace.
Senior Reporter Shelly Garcia writes about The Village at Westfield Topanga and the time it'll take for the project to get off the ground.
Gray Water Makes Clear Sense for Conservation. As Much as 80 Percent of Residential Waste Water Could Be Diverted From Sewers to Fulfill a Multitude of Needs
Process of Picking Top Valley Bankers. Commentary by SFVBJ Editor, Jason Schaff
Staff Reporter Mark Madler reports on a meeting of the Valley Alliance of Neighborhood Councils and the news coverage of the Los Angeles Times.
A flattening of the inverted yield curve has improved the banking climate relieving banks of some pressure.
Community History Recalled in Book. A look at the people, places and things that make our valleys tick.
With a possible increase in music royalty rates, online music stations could close down.
Los Angeles Community College District welcomes back former chancellor Mark Drummond who leaves his current position in Sacramento as chancellor of the California Community College District.
Friday, July 20
California United Bank posted net income for the first time in the second quarter ended June 30.
Western Commercial Bank said its assets rose to $62.3 million for second quarter of 2007.
Interlink Electronics Inc. completed the sale of $5 million in convertible notes and warrants to a group of investors, the company announced.
A class action suit reportedly filed against Zenith National Insurance Corp, was without merit and the company said it intends to defend the litigation vigorously.
Thursday, July 19
Amgen announced the completion of its acquisition of Ilypsa, a private company developing non-absorbed drugs for renal disorders.
A Chicago equity firm has invested $75 million in wristband identification manufacturer Precision Dynamics Corp., giving it controlling interest in the company.
Fashion Square and Westfield Topanga have launched a search service that allows shoppers to check on the availability of items at the mall by phone or through the Internet.
The Pacoima Neighborhood Council will conduct a 30-day study of the environmental report for a new 101-bed patient care building at Providence Holy Cross Medical Center.
The following were recognized as the Top 25 Bankers in the Valley by the San Fernando Valley Business Journal:
Wednesday, July 18
California home sales in June sunk to their lowest levels since 1995, according to data released by DataQuick Information Systems.
Kohlberg Kravis & Roberts Co. is mulling the purchase of Macy's Inc. for about $24 billion, according to reports in Women's Wear Daily.
A new state of the art therapy and wellness center for aging entertainment workers opened Wednesday in Woodland Hills.
A strike by supermarket employees in Southern California appeared to be avoided following a deal between the union and three grocery chains, media reports said.
Tuesday, July 17
Fresh from its hugely successful remake of the Topanga mall, Westfield Corp. Inc. is undertaking an even larger redevelopment in Warner Center.
Several hundred passengers had to be re-screened at Bob Hope Airport in Burbank Tuesday morning after a passenger entered the terminal without being properly screened.
The Los Angeles County Metropolitan Transportation Authority will hear public comments on the draft Environmental Impact Report for the proposed northern extension of the Metro Orange Line.
Thousand Oaks-based biotechnology firm Amgen announced the completion of its acquisition of Alantos, a private company that develops drugs for diabetes and inflammatory illnesses, is complete.
The energy investing unit of General Electric acquired a majority interest in a Glendale landfill used to produce energy, the company announced.
Monday, July 16
Three energy technology funds ponied up a $12 million investment in a Northridge manufacturer of lift systems used in the oil and gas industry.
ValueClick Inc. added to its comparison shopping segment with the acquisition of MeziMedia Inc., operator of two websites, the company announced.
IHOP corp. has agreed to acquire Applebee's International Inc. for about $2.1 billion.
The City of Santa Clarita Sheriff's station has launched a new service to provide training programs for local businesses.
Friday, July 13
A day after chain store retailers reported modest sales growth in June, broader spending data from the Commerce Dept. revealed the biggest drop in retail sales in almost two years.
The Los Angeles city attorney's office determined this week the city's municipal code may be changed to allow neighborhood councils to administratively appeal land use decisions.
A new interactive gaming community was announced by Disney Interactive Studios at the E3 Media & Business Summit taking place this week in Santa Monica.
NBC Universal television shows and films were added in the lineup available to passengers through the in-flight entertainment system on Virgin America.
Thursday, July 12
With 47 chain stores reporting, retailers turned in a better than expected performance for the month of June, although most still remained under last year's growth levels.
The Los Angeles Board of Supervisors voted unanimously to approve a $450,000 plan to provide funding for the completion of the Antelope Valley Integrated Regional Water Management Plan.
United Airlines adjusted its daily schedule of flights from LA/Palmdale Regional Airport so passengers can more easily make connecting flights in San Francisco.
IHOP Corp. reported same store sales rose 2.5 percent in the fiscal second quarter.
Wednesday, July 11
The Conference Board Measure of CEO Confidence Index fell in the second quarter of the year.
CEOs have lost some confidence in the economy according to the latest poll by The Conference Board.
Thomson Financial projections for same store sales in June show gains well below last year's.
The Walt Disney Co. announced this week striking a deal with Microsoft to offer feature films through the Xbox online video game service, the Associated Press reports.
Tuesday, July 10
First Commerce Bancorp reported net income rose 32 percent to $932,000 for the second quarter ended June 30, compared with net income of $706,000 for the same period in 2006.
Homebuilder Ryland Group Inc. said it expects to post a loss of $1.25 to $1.35 per share for the second quarter.
A news item on the sale of Ronco Corp. (Hearing Set for Sale of Ronco, July 9, 2007) incorrectly attributed the creation of the Ginsu knife.
City Controller Laura Chick called the shortage of affordable housing a crisis following the release of audits of the Los Angeles Housing Department.
Xirrus Inc. has applied for a patent for its automated testing and self-healing capabilities of its long-range Wi-Fi products, the company announced.
Monday, July 9
Point B Solutions Group hires locally so that consultants are more invested in the community.
A recent spate of employee-friendly decisions concerning alternative dispute resolution agreements provide a blueprint for employers.
How Caruso Affiliated attracted a cream of the crop lineup of retailers for its upcoming center in Glendale.
Alfred Mann, granddad of the biotech industry, told BizBio Conference attendees more needs to be done to lure companies to the area.
Ventura County Small Companies Getting Support, Survey Finds
Valley Business Expo Attendance Higher. Greater SFV Chamber Brings Businesses, Vendors, Consumers Together for First Time
A new report finds that multifamily transactions are down dramatically in the Valley, Senior Reporter Shelly Garcia writes.
The Cheesecake Factory Inc.'s newer Grand Lux Caf & #233; division, helped drive revenues upward in the second quarter, the company said.
As of June 30, new U.S. Small Business Administration regulations took effect requiring companies with federal contracts to recertify their size status as "small businesses."
A Calabasas-based video game software company, Emergent Game Technologies, received $12 million in funding from six firms.
Mitigate Threats to Trade Secrets, Intellectual Property. Don't Delay Implementation of Simple Protective Measures
Outlaw Subprime Lending?: It's Not Going to Happen. Sector May Be Down, But Don't Count It Out Yet. Guest Column by William J. Battison
Editorial by SFVBJ Editor, Jason Schaff - Valley at Mid-Year: Growth and Disparity
Despite predictions to the contrary, consumers are still shopping 'till they drop.
Column By Gregory N. Lippe, CPA, managing partner of Lippe, Hellie, Hoffer & Allison, LLP and Vice-chair of the Valley Industry and Commerce Association
Sheffield Manufacturing has acquired two companies to add to its product line and manufacturing power.
Why the trusts and wealthy individuals who once were the only buyers of community shopping centers are getting some new competition.
Metro Shorts Valley Employees, Diverts Funds to Other Areas
The slowdown in home buying has not affected local home furnishings retailers as much as you might think.
Power-One, Inc. will lay off 34 employees from its Camarillo headquarters this month as part of a plan to shave $20 million from its budget.
Free online service 2Insure4Less.com shortened its insurance quote questionnaire to make the insurance shopping process easier for individuals seeking to compare insurance quotes.
Christian broadcaster Salem Communications has made a number of management changes, but some stop short of calling it a shakeup.
Local Time Warner Employees Feted for Volunteerism
Diodes Inc. will distribute its semiconductors in Europe after signing an agreement with Silica, the company announced.
The latest in a series of articles poses questions about how to improve the area business climate to Los Angeles City Councilwoman Wendy Greuel.
Having succeeded in reaching its targeted readership in the San Fernando Valley, the team behind LA.Direct magazine is taking its publication to the other side of the hill, Staff Reporter Mark Madler learned.
What started out as an idea for a reality show became the backbone of an advertising business for two, twentysomething entrepreneurs.
Friday, July 6
Disney Interactive Studios has changed the name of its racing video game studio to Black Rock Studio from Climax Racing.
Thursday, July 5
Prices for industrial properties in the San Fernando Valley and Ventura County have flattened after climbing by about 90 percent in the years from 2002 to 2006, according to data just released by Colliers International.
A Calabasas-based software company for the video game industry received $12 million in funding from six firms.
Tuesday, July 3
The Walt Disney Co. board of directors adopted a plan to limit shareholder rights plans to prevent hostile takeovers, the Associated Press has reported.
The Granada Hills Chamber of Commerce has given the green light to a proposal to redevelop the Granada Village Shopping Center with a Kohl's store as the anchor tenant.
Councilmember Wendy Greuel was re-elected Tuesday as president pro tem of the Los Angeles City Council.
Monday, July 2
MRV Communications, Inc. closed on its acquisition of Fiberxon, Inc. an optoelectronic module developer, the company said.
The Society for Environmental Graphic Design (SEDG) has awarded the Los Angeles County Metropolitan Transportation Authority with its Top Honor Award.
Nestle SA completed its $2.5 billion acquisition of Novartis Medical Nutrition.