Stories for April 2011

Friday, April 29

Glendale Bank Releases Earnings

Americas United Bank reported a net loss in its 2011 first quarter results.

Positive Q1 Results for On Assignment

The Calabasas-based staffing firm On Assignment Inc. reported a 34.4 percent increase in revenues for 2011 first quarter results compared to the same period last year.

Earnings Increase for First California

A significant increase in net earnings for the first quarter was reported by First California Financial Group, Inc.

Thursday, April 28

Slow Economic Growth Projected for Northern Los Angeles County

The Santa Clarita and Antelope valleys are expected to finally feel improvements in the housing market this year while job growth is expected to continue in both northern Los Angeles County and California, economists said today at an economic forecast conference in Santa Clarita.

Aerospace Firm Buys Moorpark Complex

Ensign-Bickford Aerospace & Defense has purchased the 265-acre campus in Moorpark it has been operating from for the past year.

New President Named for The CW

A former executive with ABC Studios has been named as the new president of The CW, the network co-owned by Warner Bros. Entertainment and CBS.

Poor Q1 For Homebuilder Ryland

The Ryland Group Inc. widened its net loss in the first quarter when compared with the same period from a year ago.

Image Signs Distribution Agreement with Lakeshore Entertainment

Image Entertainment Inc. signed a long-term deal to release film and television titles from Lakeshore Entertainment.

Hospitalist Group’s First Quarter Shows Financial Growth

IPC The Hospitalist Company Inc.’s higher first-quarter earnings and revenues were spurred by recent acquisitions and growth in both new and existing markets.

Wednesday, April 27

Teledyne Reports Strong Q1 Earnings

The acquisition of a camera and sensors manufacturer contributed to Teledyne Technologies Inc. having higher net income in the first quarter when compared to a year ago.

Accounting Firm Makes Move to Larger Offices

A local accounting and advisory services firm has relocated its corporate headquarters to larger offices in Woodland Hills to accommodate its growth.

Tuesday, April 26

ReachLocal Posts Net Loss in Q1; Partners with Google

Online marketing company ReachLocal Inc. widened its net loss in the first quarter when compared with the same period from a year ago.

DreamWorks Animation Income Drops in Q1

Net income dropped by 59 percent for DreamWorks Animation SKG Inc. in the first quarter when compared to a year ago.

MRV Technology to Serve Travelers in France

MRV Communications will expand its network to the Paris metropolitan area through a partnership with Hub telecom.

THQ Extends Agreement to Release “Warhammer 40,000” Games

THQ Inc will continue to release games in the popular “Warhammer 40,000” franchise after extending a licensing agreement with game owner Games Workshop.

Monday, April 25

App Store Developer Receives Funding

Technology company Nevolution has raised close to $500,000 for the development of its Windows App store.

Americana Expansion to Preserve Historical Architecture

Caruso Affiliated and The Glendale Historical Society are collaborating to preserve the architecture of a building that will be used to expand The Americana at Brand.

On-Location Commercials A Bright Spot in Filming

ENTERTAINMENT: Film crews sweep across area as advertising spending picks up.

FILMING: Commercials have been the busiest part of local filming recently as ad spending increases, boding well for the general economy.

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ValueClick Going Mobile with Acquisition

ValueClick Inc. added to its ability to serve the mobile advertising market through the acquisition of Greystripe Inc., a brand-focused mobile advertising network.

Committee Names Financial Advisor for Acquisition Offer

A special committee of the board of directors of discount ticket seller Tix Corp. has retained B. Riley & Co. as its financial advisor.

New home sales rose in March after weak winter

WASHINGTON— More people bought new homes in March, giving the battered industry a small lift after the worst winter for sales in almost a half-century.

L.A. and San Francisco airports celebrate renovations

SFO focuses on going green while LAX starts a project to double the size of its international terminal. Also: Frontier Airlines cuts some fees, and TripAdvisor's annual air travel survey comes out.

Goodwill Finds There’s Still Demand for Bookstores

RETAIL: Non-profit leads way locally in catering to popularity of used books; growth planned.

Goodwill Southern California is filling in the gap caused by the closure of Borders bookstores in the area by opening up used bookstores. Meanwhile, sales at some independent Valley book retailers are skyrocketing.

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VALLEY BIZ SEEN

Photographs of recent business-related events in the valleys, including parties, awards dinners, benefits and other celebrations.

Little Has Been Done After a Long Time

VICA LOCAL UPDATE

Catching the local business issues that fAll through the cracks

Why the Census Is Important to Business

KALEIDOSCOPE - OUR CHANGING VALLEY

Opinion Column by Martin M. Cooper, President of Cooper Communications, Inc., and a member of the Board of the Valley Economic Alliance.

AROUND THE VALLEYS

News and notes from around the greater San Fernando Valley area

Leasing Team Fills Vacancies in Burbank, Glendale

Offices: LegalZoom takes additional space in tower.

Real Estate Column by Mary Catherine Holcomb

Teledyne Sells Off Aircraft Business

DEAL: Firm adjusts focus.

Teledyne Technologies Inc. completed its sale of its piston engine business in a deal worth $186 million.

NoHo Intersection Attracting New Retail Development

Develop: Building owner foresees day when area becomes ‘Times Square’ of NoHo.

NOHO: Changes are afoot on the fringe of the NoHo Arts District area in North Hollywood.

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Court’s E-Mail Ruling on Privacy Good for Companies

WORKPLACE: If policy is spelled out, employees should not expect confidentiality.

EMPLOYMENT LAW: Employers log win on worker e-mails

Business Improves as Hotels Change Tactics, Renovate

HOSPITALITY: Better climate expected to continue with growth this year.

ABOUT THE LIST: HOSPITALITY: Hotels change tactics and undergo renovations as conditions improve in the industry. Includes the 2011 SFV'S LARGEST HOTELS list for download (pdf)

EXECUTIVE SUMMARY / THE PACESETTER - Largest Hotels

THE LIST: Largest hotels, ranked by number of rooms in the greater San Fernando Valley area. Includes the 2011 SFV'S LARGEST HOTELS list for download (pdf)

PR Executive’s Other Reality Will Come to Public TV

PROGRAMMING: Series promotes appreciation of the arts among very young children.

ENTERTAINMENT: Public television will begin airing public relations executive Steve Syatt’s children’s TV series in May.

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Pet Merchandise Firm Raises Money for Animal Causes

RETAIL: Freaky Dog People Inc. to give portion of its profits to rescues and shelters.

Giving: A company donates to animal-related causes

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Print Pro

CorporateImpressionsLA Inc.’s latest move into the music packaging business shows how creativity can help a firm grow even in a traditional industry.

ENTREPRENEUR: Corporate Impressions L.A. Inc.

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Biomedical Niche Draws NY Firm

DEVELOPMENT: Santa Clarita picked over several other areas.

BIOMED: A medical equipment development company has recently moved from New York to Santa Clarita in order to tap into its biomedical sector and skilled workforce.

Reprographics Firm Leaving

PUBLIC COMPANY: Glendale facility part of consolidation.

PRINTING: In a cost-cutting and restructuring move, American Reprographics is closing its Glendale financial headquarters and consolidating it with its corporate headquarters in Walnut Creek.

3D Duo

Cinema Pioneers Create Firm to Focus on Television

ENTERTAINMENT: Filmmaker James Cameron and cinematographer Vince Pace have started a new 3D company that is based in Burbank.

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Cleared for Take Off

John Stolting, head of Boeing’s flight test operations in Palmdale, puts aircraft through some tough runs in extreme conditions so that they’re in top-flight shape

PROFILE: John Stolting, Boeing’s director of flight test operations in Palmdale

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New Contract Connects West Hills Hospital To More Doctors, Patients

HEALTH CARE: Staffing levels expected to increase.

West Hills Hospital and the parent of Lakeside Medical enter into an agreement that will bring more business to the hospital.

New Holy Cross Facility First Silver LEED Certified Hospital

CONSTRUCTION: Cost savings expected at $180 million facility to open in May.

HOSPITAL: The new wing of Providence Holy Cross is one of the first “green” hospital buildings in California.

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Rocketdyne in New Space Deal

AEROSPACE: Company to make engines for Boeing vehicle that will replace Space Shuttle.

Pratt & Whitney Rocketdyne will supply the rocket engines for a new seven-person spacecraft being developed for NASA by Boeing Inc.

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Businesses Hear Benefits of Proposed Valley Connector Route

TRANSPORTATION: Plan would boost shipping, efforts to create commercial airport.

Business effects of the Antelope Valley connector.

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Investors Planning Entertainment Hub at Burbank Site

CONSTRUCTION: Old Community Chevrolet building will have several tenants.

The 67,000 square foot Community Chevrolet building in Burbank has been sold to investors who will create an entertainment hub.

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Lighting Company Relocates to Glendale’s Creative Corridor

ASSIST: City now offering incentives to draw interest.

Kinetic Lighting has moved from North Hollywood to be one of the first businesses to join Glendale’s newly formed creative corridor after its new incentives were approved.

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Friday, April 22

Income up for Ixia in Q1

Calabasas-based performance test equipment company Ixia reported a revenue increase of 26 percent in first quarter results compared to the same period last year.

Real Estate Firm Reaches 100 with LEED Certified Existing Buildings

The 100th building under the LEED for Existing Buildings rating system was certified by the CB Richard Ellis Group Inc.

Thursday, April 21

Unmanned Vehicle Order Valued at $11.5 Million

AeroVironment Inc. received an $11.5 million order for its Puma unmanned aircraft from the U.S. Special Operation Command.

CB Richard Ellis Appoints New Head of Americas Research

Asieh Mansour has been appointed as head of Americas Research and senior managing director of Global Research and Consulting for the CB Richard Ellis Group, Inc.

Home Sales Slightly up in Valley Area

A total of 244 new homes and condominiums were sold in February, contributing to the slight rise in new-home sales in Los Angeles and Ventura counties, according to figures compiled for the Building Industry Association Los Angeles/Ventura Chapter by Hanley-Wood Market Intelligence.

Wednesday, April 20

Amgen Income Drops in Q1

Lower demand for its anemia drugs contributed to Amgen Inc. reporting a drop in its net income in the first quarter when compared to a year ago.

Tuesday, April 19

Avita Medical Ltd. Expands Its European Sales Base

Regenerative medicine company Avita Medical Ltd. has expanded its sales and operations to three new European countries.

Pratt & Whitney Rocketdyne Making Engines for New Spacecraft

Pratt & Whitney Rocketdyne will supply the rocket engines for a new seven-person spacecraft being developed for NASA by Boeing Inc.

Monday, April 18

Council of Governments Gets Executive Director

The San Fernando Valley Council of Governments has recruited the director of the Valley Economic Alliance’s Mulholland Institute as the joint-powers agency’s executive director.

Friday, April 15

Pratt& Whitney Rocketdyne Provides Engines in Rocket Launch

A rocket using engines made by Pratt & Whitney Rocketdyne was launched April 15 from Vandenberg Air Force Base.

Cherokee’s Earnings and Revenues Drop in Q4

Cherokee Inc.’s income and revenues dropped in its most recent fourth quarter and fiscal year of 2011 as the Van Nuys-based brand management company dealt costs from executive leadership changes.

Thursday, April 14

Strong Q2 for Simulations Plus

Net income rose by 42 percent in the second quarter for pharmaceutical software developer Simulations Plus Inc. when compared to a year ago.

Wednesday, April 13

Cherokee Licenses Sideout Brand to Volleyball Manufacturer

Brand management company Cherokee Inc. has entered into an exclusive license agreement for its Sideout brand for volleyballs and related volleyball accessories with Irvine-based Mikasa Sports USA Inc.

IKEA Burbank Launches Solar Energy System

IKEA’s Burbank store has officially plugged in its new solar energy system, marking the company’s fourth operational solar energy project in the United States and its first in California.

Tuesday, April 12

Book Publisher Founder Dies

Gracia Alkema, the founding president of educational book publisher Corwin, passed away on April 9 following a short illness.

AML Signs Merger Agreement

AML Communications Inc. has signed a merger agreement with Microsemi Corp., a semiconductor and mixed signal products manufacturer.

With Investment, 3D Firm is Acquired by Equity Firm

A private investment firm has acquired 3D technology and software company 3ality, a move that will help grow the firm.

Monday, April 11

Cameron Sets Up 3D Shop in Burbank

Filmmaker James Cameron and cinematographer Vince Pace have started a new 3D company that is based in Burbank.

Amgen Creates Brazil Presence Through Acquisition Deals

Biotechnology company Amgen is acquiring Brazil-based pharmaceutical company Bergamo and is re-acquiring rights to its products in Brazil from the company Hypermarcas.

Making The Best Sports Land Use Decisions

CAPITOL OFFENSES

Commentary by Brendan Huffman

Vons Funds Medical Program Using Apple Devices

Health: iPad2, iPod Touch will connect doctors with skilled nursing center residents.

GIVING: This is a regular feature on philanthropic activities by Valley-area businesspeople and companies.

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Inaugural AeroDef Expo Draws Local Manufacturers

Flight: Industry undergoing a transition as materials, supply chain and methods change.

AEROSPACE: Local manufacturers exhibit at the first ever AeroDef Expo and Conference in Anaheim.

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Acquisition Brings Name Change

TECH: Vendor for entertainment expands into new industries.

Acquisition by Digital Vision brings name change, new markets to entertainment industry vendor with U.S. headquarters in North Hollywood.

EXECUTIVE SUMMARY / THE PACESETTER - Commercial Real Estate Brokerages

ABOUT THE LIST: Commercial Real Estate Brokerage Firms, Ranked by total value of deals in the greater San Fernando Valley area in 2010. Includes the 2011 SFV's LARGEST COMMERCIAL REAL ESTATE BROKERAGE FIRMS list for download (pdf)

Number of Local Leases Doubles for CB Richard Ellis

RANKING: Firm holds on to No. 1 spot but total value of Valley-area deals declines.

ABOUT THE LIST: Valley's Largest commercial real estate brokers. Includes the 2011 SFV's LARGEST COMMERCIAL REAL ESTATE BROKERAGE FIRMS list for download (pdf)

Centers Add Stores, See Return of Shopper Interest

RETAIL: Mall executives claim 2011 bringing higher spending per customer visit.

THE LIST: Valley-Area Shopping Centers: Brighter 2011 seen. Includes the 2011 SFV'S LARGEST SHOPPING CENTERS list for download (pdf)

EXECUTIVE SUMMARY / THE PACESETTER - Shopping Centers

ABOUT THE LIST: Largest shopping centers in the Valley, Ranked by taxable sales in 2010. Includes the 2011 SFV'S LARGEST SHOPPING CENTERS list for download (pdf)

Online Health Insurance Exchange Will Help Small Businesses

California is currently in the process of creating an Internet-based health insurance exchange that will help consumers.

AROUND THE VALLEYS

Games Make GoSave Engaging Site to Visit

News and notes from around the greater San Fernando Valley area

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Owner Changes Lindero Country Club Business Model

HOSPITALITY: Proprietor widens access to public.

Lindero Country Club is marketing its recently improved property to the public, making more amenities available for business and social events. The club’s restaurant and banquet room were renovated, along with other areas.

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Owners, Brokers Being Creative in Complicated Market

LEASING: Parties becoming more flexible in current climate.

The impact of the economic crash and the slow march toward recovery have forced brokers and office building owners to be flexible and creative in negotiating deals with tenants.

Natural Balance Adds 10 Jobs In Move to Larger Site

INDUSTRIAL: Transaction is one of several large deals by Colliers in recent months.

Real Estate Column by AnnMarie Baranik

Commercial Real Estate Activity Has Picked Up Recently

OFFICE: First part of 2011 has made brokers ‘cautiously optimistic’ about the future.

Activity has increased significantly in the local commercial real estate market in the past few months, according to brokers.

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Tutor Perini Widens National Presence With Purchase

BUILDING: Southeast strategy boosts value.

CONSTRUCTION: Sylmar construction company Tutor Perini Corp. has acquired Anderson Companies, improving its national footprint by expanding into a new market.

VALLEY BIZ SEEN

Photographs of recent business-related events in the valleys, including parties, awards dinners, benefits and other celebrations.

Bad Timing of Payments Costing L.A. Millions

VICA LOCAL UPDATE. Catching the local business issues that fall through the cracks

The second of three columns in a series that will review the status of audits from L.A. City Controller Wendy Greuel.

New Vendor at Hospital To Absorb Layoffs of Firm

LABOR: Henry Mayo sets requirements in new contract.

In an unusual move, more than 120 workers laid off by a vendor of Henry Mayo Newhall Memorial Hospital in Valencia are getting the chance to continue working at the Valencia-based health care facility.

Move to Valley Opens Opportunities for Car Company

AUTOS: On-location filming added to Northridge operations of Picture Car Warehouse.

Picture Car Warehouse completes its move from downtown Los Angeles to a former Cadillac dealership in Northridge.

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Hooked Up

Firm Services Critical Medical Devices We All Take for Granted

ENTREPRENEUR - EnBio takes care of critical medical equipment we all take for granted.

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Lancaster, Santa Clarita Part of KB Homes Solar Plan

Sun: Faced with competition from resales, builder making solar systems standard feature.

KB Homes will make solar power systems a standard feature at select communities, including ones in Santa Clarita and Lancaster.

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N. Hollywood Company Finds Space in Simi Valley

DISTRIBUTOR: Firm fails to obtain adequate site in Santa Clarita, San Fernando valleys.

Collectibles distributor Entertainment Earth Inc. of North Hollywood will move to Simi Valley this summer after a search for larger space in the San Fernando Valley failed to turn up a site.

U.S. Bank’s New Branch Focuses on Northeast Valley

LENDING: Panorama City facility designed to be resource for neighborhood’s small firms.

U.S. Bank’s recently opened Panorama City branch is reaching out to local small businesses. The opening reflects a larger expansion effort by the bank in the Valley.

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Troop Buildup

Dozens of New Bankers Bulking Up BofA Business Unit

Bank of America is hiring dozens of new small business bankers in the San Fernando Valley region this year to improve its services for small companies.

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Viking Adding to River Cruise Fleet

TRAVEL: New ships part of firm’s $250 million development effort.

Viking River Cruises, which has its U.S. headquarters in Woodland Hills, plans to build four new cruise ships as this segment of the tourism industry heats up.

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Friday, April 8

Technicolor Showcasing New Products at NAB2011

Technicolor will announce new partnerships and showcase new products at the National Association of Broadcasters Show 2011 in Las Vegas starting on April 11.

Thursday, April 7

Bank Sells $10.3 Million in Shares to Investors

California United Bank has completed a private offering of its common stock to 16 select institutional and other accredited investors.

Wednesday, April 6

Acquisition Adds to Blue Microphone Offerings

Blue Microphones will grow its studio and live microphone lines following the acquisition of the assets of Summit Audio Inc.

Hugo’s Restaurant to Add Agoura Hills Location

West Hollywood-based Hugo’s Restaurants is opening a new location in Agoura Hills.

AML Receives Second Acquisition Offer

An announced merger with a New York microassemblies company fell apart for AML Communications when another firm made a better offer.

Tuesday, April 5

Committee Reviewing Offer for Discount Ticket Seller

The board of directors of discount ticket seller Tix Corp. has formed a special committee after having received a non-binding proposal.

DineEquity to Relocate Applebee’s Headquarters Office

DineEquity Inc.’s Applebee’s Neighborhood Grill & Bar restaurant chain is moving its headquarters.

Monday, April 4

Innovation: Firms Lead Way in Solar Cells, Batteries

TECHNOLOGY: Need for better products drives companies to find new breakthroughs.

INNOVATION: Companies such as Spectrolab and Quallion are good examples of innovative manufacturers.

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Tutor Perini Acquires Anderson Companies

Civil and building construction company Tutor Perini Corp. has acquired Anderson Companies, boosting its presence in the Southeastern United States.

Net Profits Jump at Electro Rent

Increased rental activity in North America and Europe contributed to Electro Rent Corp. having a substantial increase in net income in the third quarter when compared to a year ago.

Friday, April 1

FAA Bill Passed Minus Curfew for Valley Airports

The U.S. House of Representatives rejected an amendment April 1 on a mandatory nighttime curfew at two San Fernando Valley airports as part of the Federal Aviation Administration Reauthorization bill.

Teledyne Invests in Another Digital Imaging Company

Teledyne DALSA has acquired a minority interest in the parent company of Canada-based Optech Incorporated.