Stories for October 2008
Friday, October 31
QualityLogic of Moorpark has streamlined the operations of its quality control testing and services by reorganizing into the two business units.
WASHINGTON -- Beaten down and watching their wealth shrink, Americans are cutting back sharply on their spending, trimming it in September by the largest amount in four years.
Bolthouse Farms Inc. in Palmdale completed a clean energy project that uses a 1.9 megawatt solar power system to provide 80 percent of electricity.
Mercedes lot on Brand Boulevard says the changes would reduce noise for its neighbors.
The Small Business Administration will have two Disaster Loan Outreach Centers in the Valley operating through Nov. 13 to assist those who have suffered home or business losses from the Marek and Sesnon fires.
Los Angeles World Airports will no longer make the Palmdale airport part of its regionalization plans, the agency has said.
Revenues in the third quarter increased 4.3 percent for PS Business Parks of Glendale over those of 2007.
The executive team of Grill Concepts in Woodland Hills, parent company of Daily Grill and Grill at the Alley, will take a voluntary 10 percent pay cut.
Thursday, October 30
Twentieth annual gathering discusses state of the economy and its future
Gov. Arnold Schwarzengger encouraged attendess of a Valley Industry & Commerce Association event to vote in favor of a redistricting iniative as a way to bring to change to Sacramento.
Wednesday, October 29
The weak economy continued to hammer away at net income of online marketer ValueClick Inc.
Increased expenses contributed to a $10 million drop in net income at DreamWorks Animation SKG Inc. for the third quarter when compared with the previous year.
Slow economy has two Glendale councilmen questioning what are normally routine approvals.
CHAD Therapeutics Inc. faces possible bankruptcy after suspending operations due to its inability to raise additional capital.
A drop in Medi-Cal payments led Valley Presbyterian Hospital in Van Nuys to eliminate 35 staffers although none in their nursing staff.
Dakota's the Great Steakhouse at the Simi Valley Town Center closed, less than a month after a sister location shut down in Westlake Village.
The San Fernando Valley Bar Association has come out opposed to Proposition 8, which would eliminate the rights of same-sex couples to marry in California.
LOS ANGELES - An ethanol refinery planned near the Lancaster landfill got a final go-ahead from the county Board of Supervisors, as the board denied an appeal filed by a local environmentalist who wanted the county to do a more stringent review of the ref
Registrations of new cars and light trucks declined 19.1 percent during the third quarter of 2008, according to the California New Car Dealers Association.
Monday, October 27
RELATIONS: How a tiny municipality keeps from being overpowered
Ernst & Young has moved its Woodland Hills office to Westlake Village
Train company seeks to have the engineer's employer held liable for September crash in Chatsworth that killed 25.
WASHINGTON -- Sales of new homes recorded an unexpected increase in September as median home prices dropped to the lowest level in four years, the Commerce Department reported.
GUEST COLUMN - Martin Cooper on the "Terrible Trio"
A couple of California's top business banks are working to let companies know they have money to lend; are still lending money; and are actively seeking borrowers.
A reader-driven feature: photographs of Valley business people being feted, awarded, commended or just taking part in interesting regional events.
Dreaming of a green Christmas
Used car sales and service departments keep industry alive
Roundup of proposition guidance from business organizations
Efforts to clean up the park and make it a more family-friendly place have paid off in the past year.
A quick look at some of the big businesses in San Fernando.
A difference of opinions on the car loan availability
ApolloMed Hospitalists has signed a hospitalist service agreement with Pacific IPA of El Monte to provide inpatient care at San Gabriel Valley Medical Center.
On the heels of suspension of dividend payments and the replacement of the company's CFO at the beginning of October, Chicago-based REIT General Growth Properties Inc. has shaken up management and announced intentions to market certain Las Vegas propertie
Company says about 10% of global work force will be lost to save an estimated $400 million.
Paul Adley, an attorney with a background with not for profits, has been named as the new president of film permit coordinating agency FilmLA.
On-location television production remained high in the third quarter when compared with the same period from a year ago.
Local food banks get stocked by corporate donations
San Fernando Valley home sales were 66 percent higher than a year ago while the median home price plummeted by 35 percent in the same time period.
Community colleges are increasing auto training programs
Linda Coburn interviews new Jones, Lang, LaSalle executive
Friday, October 24
Net income and diluted net income per share were $11.8 million and $0.19, respectively for the Cheesecake Factory Inc. during the third quarter of 2008 comparing unfavorably with the previous year when net income was $18.5 million and the diluted per shar
Calabasas-based Ixia (Nasdaq: XXIA) said that in the third quarter of 2008 total revenues continued their growth trend, increasing to $47.3 million, compared to $45.9 million in Q2 and $44 million in the third quarter of '07.
Power-One, Inc. (NASDAQ: PWER) announced third quarter revenues increased 3 percent, to $121.4 million over revenues of $118.1 million in the third quarter of 2007.
Thursday, October 23
The California Supreme Court has agreed to review the closely followed case of Brinker Restaurant v. Superior Court of San Diego.
Pharmaceutical software provider Simulations Plus Inc. in Lancaster announced today that its board of directors has authorized a share repurchase program effective Oct. 27.
Last of three parts In late 2007, Centinela Hospital in Inglewood was losing nearly $1 million a month and had piled up $15 million in debt. Among the causes of the crisis: $25 million in overdue bills.
From outside the steel-beamed, glass Kaiser Permanente building, it is nearly impossible to tell what is going on inside. It is quite apparent that people are moving in. In most of the offices, which will house more than 1,000 employees, moving boxes ar
Yahoo officials announced this week that thousands of its workers will lose their jobs and employees in the Burbank office are waiting to see if they will be among the 1,520 to be laid off. Yahoo company officials said they are still parsing through glo
Wednesday, October 22
ValueClick, Inc. (Nasdaq:VCLK) shed two of what it called "non-core" assets reaping about $18 million in gross revenues that will show up on its next quarterly report.
Carl Soto lives for Halloween. The Port Hueneme resident wears his thrill for the unearthly on his finger , a skull ring. On the walls of his garage, there is a menagerie of spooky outfits and gory props from old horror movies. More than anything else
Ventura County residents are facing the economic meltdown with a mix of fear and resolve. "I'm religious so I try not to connect so much with the negative," said Howard Cummings, a Ventura father of three and carpenter who has seen work dry up over the
Stocks were down sharply but off their worst lows of the day in mid-morning trading today after a rash of negative earnings reports renewed fears that economies in the U.S. and elsewhere are headed into a deep recession. At 9:30 a.m. Pacific time, the D
Mervyns, whose three-story retail outlet has been a fixture at the Glendale Galleria for a quarter century, announced Friday that it will close its remaining 149 stores throughout California and the Southwest. The move will not only affect the 101 S. Br
Magic Mountain President Jay Thomas told members of the Santa Clarita business community that efforts to clean up the park and make it a more family friendly place have paid off in the past year.
Tuesday, October 21
EDWARDS AFB - The U.S. Forest Service has called on NASA Dryden Flight Research Center to lend its aeronautical expertise to qualifying a new class of aerial fire tankers for use in fighting wildfires.
The campuses of 15 California State University schools will receive solar power in a program between the state and SunEdison.
The world's largest jet arrives from Australia with about 450 people aboard. A380 flights are expected to provide an economic boost to the region.
Down economy and maintenance costs deal a blow to revenue at the venue, officials say.
A decision by the NASDAQ stock market to stop enforcing minimum market value requirements will give Image Entertainment Inc. an extra three months to increase the value of common shares.
Los Angeles Mayor Antonio Villaraigosa issued a directive Oct. 20 outlining for department heads how to collect unpaid bills.
Monday, October 20
The sooner small-business owners deal with the souring economy the better, turnaround experts say.
Northeast San Fernando Valley residents in training programs to work at local supermarkets will benefit from a $686,000 federal grant received by the San Fernando Valley Financial Development Corp.
LANCASTER - The City Council, acting Tuesday in its capacity as the Lancaster Redevelopment Agency, voted unanimously and without comment to pay auto dealer Mike Johnson $1.5 million for his promise to expand the Johnson Ford dealership and operate a new
In a compromise struck between divided camps within the actors union, the national board of the Screen Actors Guild called for bringing in a federal mediator to break the logjam in contract talks with the Hollywood studios, putting off more drastic plans
Commercial real estate giant Jones Lang LaSalle has opened a new full-service corporate office in Santa Clarita. This will be JLL's 10th office in Southern California.
Friday, October 17
The state Employment Development Department will make available $2 million in job training resources to workers in Los Angeles, Ventura and San Bernardino counties who have lost their jobs because of the recent wildfires.
Thursday, October 16
The Metro Orange Line busway reached a record number of passengers in September, transit agency Metro announced.
Gov. Arnold Schwarzenegger is scheduled as the keynote speaker at the Valley Industry & Commerce Association's 20th Annual Business Forecast Conference.
A new administration and broad economic pressures are expected to mean cutbacks in federal spending.
BURBANK , Proponents of banning plastic bags and Styrofoam in Burbank found an ally Tuesday, as the City Council asked staff members to move forward with a plan detailing ways to eliminate the environmental irritants.
The $1-billion effort to revive the park will try to re-create the era when Walt Disney arrived in Hollywood.
A subsidiary of Teledyne Technologies Inc. has acquired a British company that designs and manufactures sensors and monitoring systems used in oil and gas production systems.
Wednesday, October 15
Online advertising software developer FatTail Inc. received a $3 million round of financing from an investment firm specializing in digital media and communications.
Congressman Brad Sherman wants to have the areas in the San Fernando Valley damaged by wildfires be declared federal disaster areas.
Tuesday, October 14
Cherokee Inc. announced they have repurchased 99,561 shares of common stock in the open market.
PALMDALE - The City Council on Wednesday will continue its discussion about possibly suing Antelope Valley College for its alleged misuse of $139 million in bond funds approved by voters in 2004.
Firefighters continued battling wildfires that have burned more than 10,000 acres in the east and north central areas of the San Fernando Valley.
Turmoil in the airline industry resulted in a 15 percent drop in passengers at the Bob Hope Airport in Burbank for August when compared with the previous year.
GCC building is seeing more students flocking in with 'the fear of the unknown.'
Steven Spielberg and partner Stacey Snider's ambitious plans to fund their new studio have been slowed by the global credit crisis.
Bargaining talks between Oxnard and Camarillo hospitals and registered nurses threatening to strike are scheduled to resume Tuesday.
Monday, October 13
Columnist Greg Lippe wonders whether it's governing or gambling
MOJAVE - The East Kern Airport District unanimously approved a contract with Michael D. Hardee Consulting of Tehachapi in order to facilitate establishing a government fuel service at the Mojave Air and Space Port.
Eliminating the ambiguity between "brokers" and "agents."
Reporter Linda Coburn focuses her column on character
The largest construction employers in the region are the LAUSD and community college districts
Reporter Mark Madler reports on the National Business Aviation Association conference in Orlando
U.S. Reps Howard "Buck" McKeon and Elton Gallegly received the Manufacturing Legislative Excellence for their support of the manufacturing industry.
A reader-driven feature: photographs of Valley business people being feted, awarded, commended or just taking part in interesting regional events.
Which industry sectors are being hit hardest in the Valley
Restaurant chain Baja Fresh Mexican Grill has entered into an agreement with California-based Bluesun Corp. to get their food products into retail locations.
NEW YORK (AP) _ Oil prices clawed back above $80 a barrel Monday, rebounding from a 13-month low as a stepped up global effort to rescue world financial markets lured investors back into equity and commodities markets.
What's on the horizon for the fourth quarter and beyond in real estate. By John DeGrinis
Bernards has re-tooled itself to be out in front of technological advances in project management
Entertainment website Hollywood.com has acquired Encino box office tracking and analysis firm Media By Numbers.
The campus has five major projects underway.
"Carve Out Some Fun," at the Calabasas Pumpkin Festival. A report on Chambers activities around the region
Professional "stagers" may help homes sell faster. Column by Jonathan Hopp
The Budget and Finance Committee gave its approval to create a new position to oversee collection of unpaid bills owed to the city.
Metrolink Victims Must Move Quickly to File Claims. By David B. Bobrosky
Ron Tutor talks about the Perini merger, public contracting, and the future
Officials at California State University, Northridge, have cancelled afternoon and evening classes for Oct. 13, because of concerns about air quality and freeway closures in wake of wildfires in Porter Ranch and Sylmar.
Reporter Nadra Kareem writes about infection legislation and Amgen's recent success
Friday, October 10
Beset by a distressed economy and a soaring number of city inspections, the FourOneSix mixed-use condominium project on Broadway Avenue has pushed back its opening to January and will wait until its debut to push ahead with unit sales, officials said.
Given the automakers' pervasive presence in the U.S. economy and their value as symbols of industrial might, many believe they wouldn't be allowed to go under.
With the economy in a slide and the credit markets seized up, states are slashing budgets, eliminating jobs, putting major construction projects on hold and nervously waiting to see whether their shriveled pension funds recover.
Thursday, October 9
NEW YORK , American consumers went into hiding in September, leaving retailers with dismal sales and an uncertain future well beyond the holiday season as the fallout from the financial meltdown pushes spending even lower.
WASHINGTON -- New applications for unemployment benefits dropped last week from a seven-year high, the Labor Department said today, though claims remain at elevated levels that indicate recession.
The stock market plunged to its lowest point in five years on the eve of the anniversary of hitting its highest point.
The Budget and Finance Committee of the Los Angeles City Council gave its approval to create a new position to oversee collection of unpaid bills owed to the city.
Wednesday, October 8
For the first time Cal State Northridge and its College of Business Economics, has been named as one of the Best Business Schools, by the New York based education company Princeton Review. CSUN shares the honor with 296 business school programs.
Tuesday, October 7
EPA complaint alleges that the discount chain, which has a Burbank site, sold two pesticides that were unregistered.
The proposal would double the amount banks pay to insure their deposits. It is part of a five-year plan to replenish the government's insurance fund, which has been hit by the failure of IndyMac and o
Baja Fresh Mexican Grill, the fast-casual Mexican grill chain has opened its newest concept, Baja Fresh Express, at Los Angeles International Airport and the University of Southern California.
Homeowners with subprime and "pay-option" adjustable-rate mortgages from Countrywide Home Loans may be able to escape foreclosure and get their loan payments or debts reduced under an $8.4 billion settlement between 11 states and Bank of America Corp., wh
Facing a lawsuit over deceptive mortgage practices, Bank of America Corp. is agreeing to pay more than $8 billion to modify hundreds of thousands of loans to keep people from losing their homes.
With Congress failing to pass a bill to fund the Federal Aviation Administration, business aviation industry officials will lobby their side with a new slate of lawmakers come January.
Monday, October 6
Wall Street tumbled again today, joining a sell-off around the world as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the U.S. and other governments.
With the credit crunch drying up traditional sources of funding, small-business owners who need cash are seeking alternatives.
A public meeting to review the draft Environmental Impact Report for the Van Nuys Airport Noisier Aircraft Phaseout project will take place Oct. 7, from 3 p.m. to 6 p.m.
Local bakery comes up with a novel idea to test which way voters will go in November election.
Business and personal jet manufacturers are optimistic for long-term investment in their aircraft despite the ongoing struggles and a credit crunch in the U.S. economy, aviation industry officials said.
Beset by a distressed economy and a soaring number of city inspections, the FourOneSix mixed-use condominium project on Broadway Avenue has pushed back its opening to January
Friday, October 3
New airline V Australia cancels some flights because it doesn't expect to get the jets it had ordered any time soon. Layoffs loom at local aircraft parts suppliers that aren't receiving new orders.
MRV Communications Inc. lowered its third quarter revenue guidance due to soft European sales and delays in shipments from a China manufacturing facility.
Biotech company Amgen won a major victory Oct. 3 when the U.S. District Court in Boston issued a permanent injunction prohibiting Roche from selling Amgen's renal anemia drug, Mircera, in the U.S.
Real estate firms owns two Valley shopping centers
IT security firm Panda Security acquired its franchise operations in Germany in a bid to expand into a strategic market and consolidate its European sales.
The House approved a $700 billion bailout of the struggling financial industry in a 263-171 vote.
With consumers low on cash, discounting is rife. Retailers expect a slow shopping season.
Thursday, October 2
The negotiating committee of the Screen Actors Guild has recommended the union's governing board authorize a strike vote to get stalled contracts talks with the major Hollywood studios moving again.
WASHINGTON (AP) _ Tight credit is taking a toll on manufacturing and jobs.
BETHESDA, Md. (AP) _ Hotel company Marriott International Inc. said Thursday that its third-quarter profit dropped 28 percent, and warned investors about deteriorating conditions for 2009 amid the ongoing financial crisis.
Trucks moving goods in and out of the complex must meet tougher antipollution laws; 2,000 dirty diesel big rigs are banned. Despite compliance checks, cargo moves smoothly.
Wednesday, October 1
Council says it will vote next week to enact ordinance snuffing cigarettes from city property.
Healthcare professionals and educators came together Tuesday in Oxnard to discuss ways to combat the nursing shortage in Ventura County and bring more Latinos to the profession.
NEW YORK -- A measure of U.S. manufacturing activity contracted more than expected in September, as new orders slowed dramatically.
Homebuilder Ryland Group of Calabasas elevated Chief Operating Officer Larry Nicholson to president.
The Motion Picture Association of America has gone to U.S. District court to stop the distribution of software that makes illegal copies of DVDs.
Rep. Brad Sherman voted against the initial bank bailout bill and said that he's not voting on the new proposal, either.