Stories for May 2007
Thursday, May 31
DIC Entertainment, Inc. added the girl's property Eloise to its line of products after being named as the exclusive global licensing agent, the company announced.
WellPoint Chief Financial Officer David C. Colby has been asked to resign, effective immediately, after an investigation concluded he violated the company's code of conduct.
The owners of Baja Fresh Mexican Grill have reached an agreement to acquire La Salsa Fresh Mexican Grill restaurants from CKE Restaurants Inc.
Wednesday, May 30
A city in Greece will use equipment from Calabasas-based Strix Systems to deploy the first wireless system in that country, the company announced Wednesday.
Net income for semiconductor manufacturer Semtech Corp. dropped in the first quarter of fiscal 2008 when compared with the previous year.
QPC Lasers, Inc. received an additional round of private financing in the amount of $9.5 million, the company announced Wednesday.
A senior manager at ValueClick, Inc. has been elevated to head the online marketing company.
Tuesday, May 29
Biotech giant Amgen will appeal the decision of a European committee over its cancer treatment drug Vectibix.
Optical Communications Products, Inc. will expand its board of directors with members representing its majority shareholder, the company announced Tuesday.
Just months after signing a new contract, NBC Universal's top entertainment executive Kevin Reilly was fired by the struggling network, according to published media reports.
The city of Santa Clarita will apply for a $35,545 Edward Byrne Memorial Justice Assistance Grant.
El Camino Resources, through its El Camino Resources Mexico division, has acquired a Mexican regional leasing company, ABC Leasing, Mexico City.
Monday, May 28
Sorting Through Confusion in Valley Economy. Column by Jason Schaff, Editor of the San Fernando Valley Business Journal
Vast Resources, well established in the adult novelty industry, is getting ready to launch a new unit, beauty supply company Basic Solutions.
Economic Summit Predicts Continued Job Growth, Falling Housing Prices
A survey has found that nearly half of the workers in the Antelope Valley commute into the area from other places.
Connie Worden Roberts has garnered the nickname road warrior for her efforts to keep Santa Clarita's roadways accessible as the population grows.
Lack of space, the high cost of doing business, problems with the labor pool and red tape were among the issues that Valley business people lamented at the recent Economic Summit.
Northridge Fashion Center Helps Habitat for Humanity
Real estate veteran Mike Zugsmith opens On Deck for those who need a little batting practice; Mayor Villaraigosa presides as grand marshal at Canoga Park's Memorial Day parade; Pacoima's new credit union holds its grand opening and other local area events
United Airlines next month begins daily service between Palmdale and San Francisco in the latest effort to put the Antelope Valley airport to work.
Disaster Preparedness: Not Just for Big Businesses. Plan Now to Protect Critical Data, Keep Operations Humming
Think of Yourself As a Talent Scout in Almost Anyplace. Guest Column by Joel Block
Chatsworth vitamin and supplement maker Natrol Inc. has inked a deal to distribute in China where, the company says, there is a long traditional of herbal medicine.
Gas prices may be going through the roof, but that's not what's to blame for soft auto sales, dealers say.
A Burbank senior residence is going through a major renovation after being acquired by senior housing operator Vincal Senior Housing LLC.
Former Newhall Land executive James E. Brown will head the L.A. North region of CB Richard Ellis, Senior Reporter Shelly Garcia writes.
The Business Journal sits down with City Councilman Richard Alarcon to get his ideas on improving the business environment in the Valley.
Low Vacancy Rates, Higher Rents Predicted for Valley. Industrial, Retail at a Premium; Residential Lending Tightens
Valley Businesses as Diverse as Population. Guest column by Martin M. Cooper
Compiling Online Video a Blast for Agoura Hills Firm. Firm Gets Most Visitors When Big Events Occur
A budget proposal will add $52 million for career technical education programs to better prepare students to enter the workforce.
An impending surge in the population of retirees is fueling a demand for reverse mortgages, and Countrywide Financial Corp. is the latest to oblige.
Friday, May 25
The United Chambers of Commerce recently held an awards ceremony to make sure that small business owners get the respect they deserve.
Thursday, May 24
The Metropolitan Transportation Authority Board of Directors approved Thursday an increase in fares for bus and train service beginning in July of next year.
Seventh District Councilman Richard Alarc & #243;n won approval Wednesday for his motion to have the Community Redevelopment Agency of Los Angeles create a master plan for the continued redevelopment of the Northeast San Fernando Valley.
The pace of new home sales across the country soared in April while the median price dropped at a record rate.
College of the Canyons received nearly $80 million this month from the sale of general obligation bonds.
Dell Inc. will break its longstanding tradition of building and selling its personal computers directly to consumers and begin distributing through Wal-Mart Stores Inc., the company said.
The former owner of a Valencia aerospace company faces up to 5 years in federal prison after pleading guilty to taking part in a $20 million tax fraud scheme.
State Assemblyman Paul Krekorian was named as chairman of the new Select Committee on Preservation of California's Entertainment Industry.
Wednesday, May 23
Santa Clarita's Transit Department will offer a new mid-day service to and from Union Station in downtown Los Angeles starting June 4.
Thousand Oaks-based pharmaceutical maker Amgen Inc. received a subpoena from the New York Attorney General's Office earlier this month requesting documents related to its promotional and sales and marketing activities.
The Securities and Exchange Commission approved revisions to Sarbanes-Oxley rules that are expected to ease somewhat the internal controls required to guard against fraud, according to an Associated Press report.
Wagers for the Preakness hit a record $4.4 million at online wagering site Youbet.com, the company announced.
No longer eligible to receive federal grants for its research, IRIS International, Inc. closed down its Advanced Digital Imaging Research subsidiary.
Despite recent indications that consumer spending may be slowing, Target Corp. today reported earnings rose 18 percent to $651 million or $0.75 per share for the quarter ended May 5, compared to net income of $554 million or $0.63 per share during the com
Tuesday, May 22
Transonic Combustion, Inc. received a second round of venture funding to continue its research of developing more efficient vehicle engines.
MyNextDeal.com, a vertical search engine for commercial real estate listings, has inked a deal with the Commercial Investment Multiple Listing Service (CIMLS).
The Federal Trade Commission has launched an inquiry over ValueClick Inc.'s lead generation practices, ValueClick reported.
THQ Inc. has issued the "Cars" video game based on the Disney/Pixar film for PlayStation2.
Sales tax revenue generated by the holiday shopping season in Santa Clarita increased by just more than 1 percent when compared with the previous year, the city reported Tuesday.
Monday, May 21
Company's zNose product is able to analyze the chemistry of any odor or vapor in 10 seconds through high-speed gas chromatography.
Law designed to help better control sales of tobacco products to minors.
Friday, May 18
Biotech firm Amgen advised its stockholders to not tender their shares in response to an unsolicited mini-tender offer by TRC Capital Corp.
The Dole Food Co. has settled two class action antitrust lawsuits involving it and two other banana companies, the company announced.
A chancery court judge denied a request by Oplink Communications to expedite its lawsuit challenging a "poison pill" provision by Optical Communications Products to protect its minority shareholders from a buyout.
American Soil Technologies, Inc. completed the first stage of initial tests of two agricultural products they say are showing promise in the potato growing industry.
Easton-Bell Sports reported net income rose to $1.3 million on revenues of $174.6 million for the first quarter ended Mar. 31, compared with a net loss of $7.7 million on revenues of $111.2 million for the comparable period a year ago.
Thursday, May 17
High fuel prices, high consumer debt and a suffering residential housing market are to blame for a 7 percent decline of new-car and light-truck registrations during the first quarter of 2007, compared to the same period a year earlier.
Video game publisher THQ, Inc. will buy back $25 million of its common stock on the open market and in private transactions, the company announced.
The percentage of households able to afford a home in Los Angeles County fell even further in the first quarter of 2007, according to data just released by the California Association of Realtors.
Wednesday, May 16
Clean energy storage system manufacturer Pentadyne Power Corp. received a $4.5 million order for use of its products for homeland security purposes.
Glendale Adventist Medical Center has teamed up with Novell and IBM to provide computer services with Internet access to their patients and patients' families.
QPC Lasers Inc., a developer of high power semiconductor lasers in Sylmar, reported a net loss of $2.4 million or $0.06 per diluted share for the three months ended March 31 on revenues of $1.1 million.
The grand opening ceremony was held today for Hows Market's newest location at 5300 Lankershim Blvd. in the NoHo Arts District.
Nextera Enterprises Inc. reported a net loss of $1.3 million or $0.03 per diluted share for the first quarter ended Mar. 31 compared to a net loss of $700,000 or $0.02 per share for the comparable period in 2006.
Tuesday, May 15
The 21st Century Insurance Group Board of Directors unanimously approved a definitive merger agreement with American International Group, Inc. that will make 21st Century a wholly-owned subsidiary of AIG.
Remote electronic equipment manufacturer Interlink Electronics, Inc, reported a net income loss of $2.5 million for its first quarter.
Optical Communications Products, Inc. reported a net loss of $17 million for the second quarter of its fiscal year, the company announced.
Jim Warren, who oversaw the daily operations of museum exhibit designer BRC Imagination Arts, died May 12 from cancer. He was 59.
Sport Chalet Inc. this week holds grand opening ceremonies for two stores in Bakersfield and Phoenix.
The Walt Disney Co. will make available programming from its television divisions to mobile customers of Sprint, the company announced Tuesday.
Monday, May 14
A look at the launch of Industrial Light & Magic in Van Nuys
Fire Mountain Beverage Company has signed a joint marketing and distribution agreement with water and beverage technology developer Bionic Products, Inc.
The Santa Clarita Jaycees made it their business to build a home in Mexico for a family in need, one of the reasons the group has been named the top chapter in the country.
State Controller John Chiang administers $300 billion in state pension funds.
The Santa Clarita Valley Chamber of Commerce has launched an initiative to promote minority-owned businesses.
Mosaic Capital, one of a very few investment banking firms founded in the Valley, is moving to Century City.
A trip to Mexico, a tourism guide for Simi Valley and other happenings throughout the valley chambers.
Stock activity for 50 selected greater San Fernando Valley-based public companies: Bi-Weekly Top Gainers, Losers; The Valley 50 Stock Index; 52-week Performance
Les Sisters in Chatsworth has the notable distinction of reaching its 21st birthday this month, rare among restaurants.
Mann Theatres' newest multiplex in Thousand Oaks will be an adults-only venue providing a lounge, plush seating and grownup food like sushi.
The Basics of Fixing Workforce Problems. Column by Jason Schaff, editor of the San Fernand Valley Business Journal
K-Swiss Classic, a white tennis shoe, has lost some of its kick lately.
Disney Donates $1 Million... This regular feature focuses on philanthropic activities by Valley-area companies and businesspeople.
Director of Photography Steven Poster was elected president of Local 600, the International Cinematographers Guild.
A Healthcare Premium Funding Proposal. Column by Gregory N. Lippe, managing partner of CPA firm of Lippe, Hellie, Hoffer & Allison
Unico American Corp. reported a drop in income for the first quarter, the company announced.
Al's Ironworks has acquired a 3,750-square-foot industrial building in Burbank to expand its welding and design business.
Two CBS-owned news stations now broadcasting out of Studio City are among just a few local stations broadcasting in digital.
Calabasas Hills-based The Cheesecake Factory Inc. reported today that its general counsel Debby R. Zurzolo exercised options for 5,000 common stock shares last week.
Four Bidders Emerge for Troubled Sun Valley Property
A look behind VIP Inc., the company behind many of those calls that may be recorded for quality assurance.
Area companies including Solar Electrical Vehicles and Pace are out in front of trends in their industries.
Governor Seeks Healthcare Reform Input from Business
A business-style makeover at the Sherman Oaks Galleria tops the events in and around the valleys.
Allen Lund Co. hopes to gain a competitive advantage by eliminating most of its paperwork.
Optical Communications Products Inc. is being sued after it moved to delay a potential buyout.
Server Blades and Virtualization? It's All About Money. Key Information, Others Look to Inform Businesses
Ruling Leaves Employers Vulnerable on Rest Periods. Column by Richard Rosenberg
At Elite Aviation, the relentless pursuit of customer satisfaction means providing continual training for employees.
The North County Transit District of San Diego installed indoor and outdoor wireless networks from Strix Systems, the company announced.
Neighborhood councils could become far more powerful if a motion to give them the ability to appeal projects in their areas is approved.
Friday, May 11
The glamorizing of smoking will now be considered when a rating is given to feature films, the Motion Picture Association of America announced.
Spinning off its digital cinema business contributed to DTS, Inc. missing the deadline for filing first quarter financial statements, the company said Friday.
Guitar Center Inc. said today that its stockholders have reelected its nine member board for the coming year.
Thursday, May 10
Crown Media Holdings narrowed its income loss for the first quarter, according to financial reporting documents released Thursday.
Video game publisher THQ, Inc. doubled its profits for its just completed fiscal year when compared with the previous year, the company announced Thursday.
The former aviation director of the Seattle area airport was named Thursday as the new chief of Los Angeles World Airports.
An early Easter, rising gas prices and a weak housing market pulled down April sales for nearly all retailers and softened the near term outlook.
Wednesday, May 9
United Online President and Chief Financial Officer Charles Hilliard announced his resignation Wednesday from the company effective at the end of the month.
Retail developer Caruso Affiliated is opening a New York operation to expand its relationships with retailers and fashion houses, the company said.
Video game publisher THQ, Inc. acquired a Finnish mobile gaming development studio, the company announced Wednesday.
Beverly Hills Bancorp Inc. reported net income of $2.6 million or $0.14 per diluted share for the three months ended March 31, 2007, compared with earnings of $2.5 million or $0.12 per diluted share for the comparable period in 2006.
Amgen stockholder attending the company's annual meeting overwhelmingly re-elected four directors to the bio-tech firm's board.
Warner Bros. Pictures cancelled all screenings of its films in Canada to prevent pirating of the films through the use of camcorders, the company announced Wednesday.
Tuesday, May 8
Shoe Pavilion Inc. lost $1.2 million or $0.13 per diluted share in the first quarter ended March 31, compared to earnings of $206,000 or $0.03 per share in the same period a year ago.
Edible film strips manufacturer InnoZen, Inc. has been acquired by a New York company in a deal worth about $40 million.
The Walt Disney Co. reported strong operating results across all its business units for the second quarter resulting in a 27 percent increase in net income, the company announced.
Warner Bros. Television Group entered into an exclusive agreement to provide programming to Internet television service Joost, the company announced.
Reverse auction firm Bid4Spots has expanded its marketplace for radio airtime to the United Kingdom, the company announced.
The Cheesecake Factory has named Agnieszka Winkler to its board of directors.
Monday, May 7
High definition versions of Oscar winners "One Flew Over the Cuckoo's Nest" and "Amadeus" see release next year following an extension of a distribution deal between producer Saul Zaentz and Warner Home Video.
The more than 1.5 million square feet of industrial space added in the greater San Fernando Valley last year does not seem to have made a dent in the availability crunch in the region.
Guitar Center Inc. today reported net income rose to $17.2 million or $0.57 per share for the first quarter ended March 31 on revenues of $534.5 million.
Friday, May 4
The chief financial officer of Shoe Pavilion Inc. has announced his plans to step down later this month.
Thursday, May 3
Video game publisher THQ Inc. will develop a role-playing game in conjunction with Big Huge Games to be released in 2009, the company announced.
ValueClick, Inc. more than doubled its net income compared to a year ago, according to financial statements released Thursday.
Semiconductor manufacturer Diodes, Inc. reported a 40 percent increase in revenues for the first quarter despite lower sales in the Asian market.
A U.S. District Court Judge ruled Wednesday that a plan to clean up part of the Santa Susana Field Lab in Simi Valley violates a federal law and ordered an environmental review before it is deemed safe.
Wednesday, May 2
Lower home video sales contributed to a 1 percent decrease in revenues in filmed entertainment, Time Warner Inc. said Wednesday.
California United Bank reported its assets reached $199.8 million as of March 31, up 12 percent from $178.3 million as of Dec. 31, 2006.
PS Business Parks saw a modest rise in net income to $5.9 million or $0.27 per diluted share for the quarter ended March 31, up from $5.1 million or $0.23 per diluted share in the year ago period.
Studio City-based Crown Media Holdings Inc. renewed an agreement with the National Cable Television Cooperative, the company announced Wednesday.
Blue Cross of California has been honored by its corporate parent for two community outreach programs last year.
The owners of the contaminated Bermite plant site in Santa Clarita have agreed to pay $100 million to clean up the property as part of a settlement deal struck Wednesday.