Stories for September 2012

Friday, September 28

Point.360 Secures $8.6 Million in Mortgage Financing

Burbank-based Point.360, which provides archiving, post-production and distribution services, announced this week that it has entered into two term loan agreements that will provide $8.6 million of new mortgage funding.

Xirrus Land Number Two Spot on WSJ List of “Next Big Things”

The Wall Street Journal announced its list of 50 startup companies that could become the Next Big Thing, and Thousand Oaks-based wireless access company Xirrus came in at the number two spot.

Wednesday, September 26

Xirrus Expansion Boosted by New Funding Round

Wireless network provider Xirrus received $23.5 million in its latest round of funding and will use the money for global sales growth and product innovation.

Lancaster Wins Award for Solar Efforts

The City of Lancaster received a World Energy Globe Award for its efforts at bringing renewable energy sources to residents and businesses.

Monday, September 24

MobileCause Partners With Sage North America

Calabasas-based MobileCause, a web service platform for mobile giving, is partnering with Sage North America, the companies announced Friday.

Teledyne Announces Appointment of New CFO

Teledyne Technologies announced today that Susan L. Main, its current vice president and controller, will become its next CFO effective Nov. 19.

Vitesse Opens China Office

Vitesse Semiconductor Corp. has opened a new office in Shanghai to grow its presence in that country as demand for its products serving broadband connections increases.

Thursday, September 20

Fragrance West Acquires Monarch Fragrances

Fragrance West, which creates fragrances used in perfumes, colognes, and personal care products, recently acquired Atlanta-based Monarch Fragrances, the company announced today.

MultiCorp International Adds New Executive

Sun Valley-based MultiCorp International Inc. announced today that it has added Tibor Fischl as its new Director of Renewable Energy and New Projects.

ValueClick Selling European Search Business

ValueClick Inc. is selling its European self-service paid search business to a former company executive.

Wednesday, September 19

San Fernando Valley Business Journal Now Accepting '40 Under 40' Nominations

The San Fernando Valley Business Journal is recognizing outstanding Valley area business leaders who are age 40 and under for its upcoming Special Report, which will be published in the Oct. 15 edition.

New Report Gives Valley Hospitals High Marks

The second annual Joint Commission report on “Top Performers on Key Quality Measures” has given six Valley-area hospitals high marks for their strict adherence to medical protocol

Gridtest Lands More Customers With Testing Equipment

Gridtest Systems Inc. announced that its testing equipment is being used by 19 new customers including electric vehicle charging station manufacturers, independent labs, and installers.

Tuesday, September 18

NetSol Industries Expands Reach in China

NetSol Technologies, the Calabasas-based IT application solutions company, announced today that it has further expanded into the Chinese market with Chongquing Auto Finance Group’s launch of the company’s Finance Suite.

BioSolar Begins Development of Second Backsheet Product

Santa Clarita-based BioSolar Inc. announced today that it is beginning development of a second bio-based backsheet product, EcoBacksheet.

Dole Sells Two Business Units to Japanese Company

Dole Food Co. has sold its packaged foods and Asia fresh produce business to a Japanese company in a deal priced at $1.7 billion in cash.

DreamWorks Studios Signs International Distributors

DreamWorks Studios has signed distribution agreements with four partnering companies to serve the European and Middle East markets.

Flad Leaving as Burbank City Manager

Mike Flad is leaving as city manager of Burbank after three and a half years in that position.

Monday, September 17

IRIS International to be Acquired by Danaher Corp

Chatsworth-based IRIS International Inc., a leading manufacturer of automated in-vitro diagnostics systems, announced today that it has entered into an agreement to be acquired by Danaher Corp.

Santa Clarita Credit Rating Upgraded

Standard and Poor’s recently upgraded Santa Clarita to a AAA credit rating, the city’s third such upgrade in five years.

Tix Shareholders Re-Elect Directors

Shareholders in discount ticket seller Tix Corp. re-elected the eight members of the board of directors at the annual meeting on Sept. 14.

Lancaster Boulevard Project Starts Construction

PROJECT: InSite Development is building a new office and retail structure downtown.

Developer Scott Erhlich building two-story mixed-use structure in downtown Lancaster.

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Assets Hold Steady at Local, Regional Banks

FINANCE: Consolidation among community banks not yet materializing.

Assets hold steady at community and regional banks. Includes SFVBJ's 2012 VALLEY'S LARGEST COMMUNITY & REGIONAL BANKS and NATIONAL BANKS lists for download (pdf)

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Aviation Pioneers Celebrated 40-Year Friendship

flight: Clay Lacy says late Neil Armstrong was a ‘delightful’ person.

Clay Lacy met Neil Armstrong at an event held by the Society of Experimental Test Pilots just months after Armstrong walked on the moon.

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Editorial Cartoon - Sept. 17, 2012

This week's Editorial Cartoon by Steve Greenberg

VALLEY BIZ SEEN - September 17, 2012

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

Valley Thrives Off the Film Industry

The city of Los Angeles is being left behind by television and film productions looking for a friendly environment.

AROUND THE VALLEYS - September 17, 2012

News and notes from around the greater San Fernando Valley area

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St. Jude Cuts Valley Workers

Jobs: Medical device maker aims to improve efficiency.

Medical device maker St. Jude Medical lays off employees from its Sylmar manufacturing facility.

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New Wal-Mart Store on Deck?

SHOP: Simi Valley officials favor possible grocery store.

Wal-Mart opening discount store in Simi Valley.

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Third-Graders Receive Back-to-School Supplies

NONPROFIT: MEND helps about 220 Pacoima students prepare for new school year.

Nearly 220 third-grade students from Pacoima’s Vaughn Next Century Learning Center received new backpacks, basic school supplies and shoes, in addition to dental and vision screenings, as part of the 12th annual “Head to Toes” event hosted by MEND (Meet Each Need with Dignity) late last month.

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Filmmaker Captures LA at Nightfall

Matthews Studio Equipment gave Colin Rich the perfect tools.

Filmmaker turns to Matthews Studio Equipment to make time lapse film.

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Sexy Hair Study Breaks Down ’Dos

Women don’t play to traditional perceptions, new study shows.

Sexy Hair releases study on hairstyles.

Northrop Guiding Curiosity

Aerospace manufacturer provided inertial unit aboard Mars rover.

Northrop Grumman Navigation Systems supplies inertial guidance system for Mars rover.

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Painting the Way

Pottery studio company offers customers quality time with family and friends

Pottery studio Color Me Mine offers customers quality time with family and friends.

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Lower Overhead Helps VCs Fund More Firms

TECH: Cloud storage, other advancements mean startups can run on less.

Technology advancements help startups attract funding, run more efficiently.

New Mobile Game a First for Marvel

Debut episode features iconic comic book hero The Hulk.

Marvel Entertainment launches new Avengers mobile game.

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OPI Hires New Executive

BEAUTY: Nail care industry veteran joins company as president and general manager, takes over daily operations of Valley facility.

Nail polish manufacturer OPI names new president.

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Disney Baby Store Now Open at Glendale Center

Retail: Store will be one-of-a-kind nationwide, featuring many exclusive products.

Disney Baby opens in the Americana at Brand in Glendale

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Valley Energy Projects Battle Bureaucracy

California boasts about becoming a green energy power player, but many of the projects that come up for regulatory review and approval fail to get the green light.


Greenhouse power project delayed

Houweling’s Tomatoes and GE Energy unveil innovative heat and power system in Camarillo.

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Time Warner Drops CRN Digital Talk Radio Network

RADIO: Some listeners bemoan cable company’s sudden decision.

CRN Digital Talk Radio dropped from Los Angeles cable market after 30 years.

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Friday, September 14

Vantage Oncology, Valley Radiotherapy Associates Form New Radiation Center

Vantage Oncology and Valley Radiotherapy Associates Medical Group have entered into a partnership to form Holy Cross Radiation Therapy Center, located in Mission Hills.

Apollo Medical Reports Q2 Earnings

Hospitalist services provider Apollo Medical Holdings widened its net loss in the second quarter when compared to the prior year.

Thursday, September 13

Row 44 Reaches 350 Aircraft Installations

Inflight Wi-Fi provider Row 44 Inc. has now installed its equipment in 350 aircraft worldwide, the company announced.

California Lutheran University Receives High Ranking on Schools List

California Lutheran University received the No. 14 ranking for regional universities in the Western United States by U.S. News & World Report.

Wednesday, September 12

Dole Confirms Talks To Sell Packaged Foods Division

Dole Food Co. is in advanced negotiations with a Japanese company to sell off its packaged food and Asia fresh foods businesses.

Vitesse Signs India Distributor

Vitesse Semiconductor Corp. has partnered with a distributor in India in recognition that country will be the second largest mobile broadband market in the world in coming years.

Teledyne Subsidiary Receives Chemical Weapons Disposal Contract

A subsidiary of Teledyne Technologies Inc. received a $489 million contract to provide services supporting the disposal of chemical weapons.

Mission Valley Bank Appoints New Vice President

Mission Valley Bank announced yesterday that Caleb Willis has been named vice president and relationship manager.

Tuesday, September 11

Witt Elected Chairman of Commercial Spaceflight Federation

Mojave Air & Space Port CEO Stuart Witt has been elected as chairman of the Commercial Spaceflight Federation.

Monday, September 10

Amgen Names New Vice President

Thousand Oaks-based biotech company Amgen today announced the appointment of Ray Jordan as its new senior vice president, corporate affairs.

Great American Group to Lead Casual Male Store Rollout

Woodland Hills-based Great American Group will be coordinating the store opening program for the Casual Male Retail Group as the clothing company rolls out its new Destination XL locations nationwide.

Fox Announces DreamWorks Animation Slate

Twentieth Century Fox will release twelve films from DreamWorks Animation SKG Inc. over a four year period beginning in March.

CrowdGather Narrows Loss in Q1

Online forum and message board provider CrowdGather narrowed its net loss in the first quarter when compared to a year ago.

Friday, September 7

Van Nuys Airport Receives FAA Grant

Van Nuys Airport received an $18.4 million grant that will pay for repairing the airfield’s main runway.

NASA Turns to Global Hawk for Hurricane Missions

NASA began using a Global Hawk unmanned aircraft for the study of hurricanes in the Atlantic Ocean.

Thursday, September 6

Disney Opens New Baby Store

The Walt Disney Co. opened an exclusive store Sept. 6 at the Americana at Brand in Glendale for new mothers and their babies.

NetSol Announces New Cloud Infrastructure Division

NetSol Technologies Inc., a provider of IT and enterprise application solutions, announced today that it is launching a new division to target the cloud computing market.

Albertsons to Close Three Locations in Greater Valley Area

Supermarket chain Albertsons will be closing 19 Southern California stores before December 1 in a move by parent company Supervalu Inc. that will see the closure of 60 underperforming stores across the country.

College of the Canyons Receives Grants for Plumbing and Nursing Programs

The California Community College Chancellor’s Office has awarded College of the Canyons in Santa Clarita two grants valued at nearly $357,000, which will allow the college to develop its plumbing certificate program and establish a new nurse training partnership with Henry Mayo Newhall Memorial Hospital.

Wednesday, September 5

FilmL.A. Promotes Communications Director

Philip Sokoloski, the director of communications for nonprofit FilmL.A., has been promoted to vice president, integrated communications for the organization.

AeroVironment Reports Q1 Earnings

Revenue fell short in the first quarter as unmanned aircraft sales decreased for manufacturer AeroVironment Inc.

CorAmerica Purchases Nordhoff Plaza

El Segundo-based CorAmerica Capital announced today that it has acquired Nordhoff Plaza, at the corner of Nordhoff Street and Tampa Avenue, in Northridge.

Queeby Inks New Deal With Groupon

Queeby, Inc., whose browser-free technology allows users instant access to the Internet, announced today that it has inked a deal with Groupon, the world’s largest daily deal company.

Tuesday, September 4

GlobalWide Media Acquires Canadian Firms in $40 Million Deal

Westlake Village-based GlobalWide Media announced last week that it acquired Canadian online marketing company Neverblue and AKMG in a deal worth $40 million in cash.

IPC The Hospitalist Company Acquires Three New England Practices

IPC The Hospitalist Company, Inc., a North Hollywood national hospitalist group practice company, has acquired three related hospitalist practice groups: Omni Medical Diagnostics, PC, of Fall River, Mass.; Nexis Healthcare, Inc., of Taunton, Mass., and Park Medical Associates, LLC, of North Smithfield, R.I.

DTS, Sony Enter into Agreement on Audio

DTS Inc. will supply its audio technology for flat panel television sets made by Sony Corp.

Monday, September 3

PR Firm Revs Up For Car Shows

Annual Central Coast event brings all hands on deck from JMPR.

AUTOMOTIVE: Business speeds up at Woodland Hills public relations firm after car shows.

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Club Keeps Bringing the Laughs

Flappers in downtown Burbank celebrates its second anniversary.

ENTERTAINMENT: Flappers comedy club keeps audiences laughing in Burbank.

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CEO Pay May Surprise You

ANALYSIS: Compensation at credit unions varies.

COMPENSATION: Valley credit union chief executives’ salary on track with nation.

Bank Names New CEO

Leader: Bank of Santa Clarita chairman at helm.

PROFILE: Roberto Barragan discusses role at helm of Valley Economic Development Center.

Big Lender

The president and CEO of the Valley Economic Development Center discusses the organization’s new statewide and national strategies, the state of the economy and his dream jobs.

BANKING: Chairman now running Santa Clarita Bank as CEO.

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VALLEY BIZ SEEN - September 3, 2012

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

Editorial Cartoon - Sept. 3, 2012

This week's Editorial Cartoon by Steve Greenberg


Market Watch Summary

Stocks were mixed for the two-week period ended August 29, 2012.


Valley Bankers on the State of the Industry

Q&A: Five Valley banks share insights about today’s lending environment.

Tech Savvy Bank Gives Local Entrepreneurs a Chance

MONEY: Silicon Valley Bank funds startup firms, offers sage advice.

FUNDING: Silicon Valley Bank in Sherman Oaks offers entrepreneurs financing and advice.

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NBC4 Executive Brings Changes to Station

media: Steve Carlston extends noon broadcast, adjusts anchor lineup.

MEDIA: Steve Carlston brings big changes to NBC4 Southern California in Burbank.

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Co-Optimum Offers Compliance in a Few Clicks

Service: Sherman Oaks firm aims to assist customers with new online marketing tool.

SERVICE: Co-Optimum looks to future with new ways to monitor brand potential.

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Entrepreneurs weigh in on funding a start-up

MONEY: Three Valley entrepreneurs discuss their funding strategies.

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Valley’s Largest Credit Unions Holding Steady

list: Burbank-based Logix tops list of 35 largest credit unions in valley region.

LIST STORY: Numbers are holding steady for area credit unions. Includes SFVBJ's 2012 VALLEY'S LARGEST CREDIT UNIONS list for download (pdf)

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Plumas Enters Crowded Los Angeles Market

loans: Northern California bank pursues transactions not secured by real estate.

LOANS: Northern California bank Plumas enters the Valley.

Mountain Nonprofit Seeks New Revenue Streams

strategy: Preservation group looks to corporate sponsors to boost project funding.

NONPROFIT: Mountains conservancy group moves companies into business model.

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AROUND THE VALLEYS - September 3, 2012

News and notes from around the greater San Fernando Valley area

DreamWorks Animation SKG Inc. has picked Twentieth Century Fox as the distributor of its feature films beginning next year.

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Logic Wins at Credit Union

branding: Lockheed Federal now known as Logix in move to add new members.

BRANDING: Lockheed Federal Credit Union has renamed itself as Logix.

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HealthNet Sponsors Patient Appreciation Days

service: Event raises local awareness about services offered at Valley clinic.

Valley Community Clinic hosted its fourth-annual Patient Appreciation Days open house Aug. 16 and 17 with help from sponsor HealthNet.

Catering Firm Opens BBQ Restaurant

Lenny Bent is now serving diners at his Chatsworth eatery.

RESTAURANT: Popular Valley caterer opens new BBQ eatery in Chatsworth.

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Movers Now Offering the ‘Jay Leno’

Two area companies partner to give luxury cars the star treatment.

TRANSPORT: Two moving companies partner to give luxury cars star treatment.

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Business Owners Become Video Stars

Promote: Area entrepreneurs make video testimonials about how the SBA helped.

Business owners from the Conejo and Santa Clarita valleys are featured in online videos on the Small Business Administration website.