Stories for January 2014
Friday, January 31
Wesco Aircraft Holdings Inc. has acquired a supply chain management firm serving the aerospace industry in a deal valued at $550 million.
Aerospace manufacturer Aerojet Rocketdyne is laying off 5 percent of its workforce including positions at it Chatsworth rocket engine plant, according to media reports published Friday.
A plan by Ixia for regaining compliance with Nasdaq listing rules has been accepted by the exchange.
Avery Dennison Corp. on Friday announced fiscal fourth quarter and full year results that missed Wall Street expectations for profit, as the company continues its restructuring.
New Line Cinemas, the mini major film studio behind the blockbuster “Lord of the Rings” trilogy, is moving to the Warner Bros. Studios lot in Burbank this summer from West Hollywood.
Thursday, January 30
California Lutheran University is opening an off-campus business incubator this summer in Westlake Village as part of an expansion of its School of Management, the college announced on Thursday.
Ryland Group Inc. on Thursday announced strong fourth quarter results as the company rides the resurgent residential real estate market.
Wednesday, January 29
The move of “The Tonight Show” to New York City will result in the elimination of 164 positions at NBCUniversal's Burbank studio.
Avery Dennison declares dividend. Bank of Santa Clarita earnings.
Tuesday, January 28
Minimum wage violation charges against Chinese electric vehicle manufacturer BYD Co. Ltd. were withdrawn Tuesday by the California Department of Labor Standards and Enforcement, according to the law firm representing BYD.
Amgen on Tuesday reported fourth-quarter results that beat earnings expectations on a pro forma basis that excludes acquisition costs.
The Camarillo semiconductor maker said demand was soft for its chips used in smartphones and other devices.
Valley Presbyterian Hospital has announced the appointment of five new board members – including Cal State Northridge President Dianne Harrison – in an effort to diversity its leadership.
Monday, January 27
Agricultural biotech Ceres Inc. is planning a secondary offering of its common stock that could bring in up to $20 million.
Great American Group has sold its ownership interest in the U.K. footwear retail chain Shoon to two entrepreneurs, the company announced Monday.
Los Angeles real estate investment firm Rexford Industrial Realty Inc. announced on Monday it has added to its fast-growing Valley portfolio with a nearly $9 million purchase in Van Nuys.
Warner Center’s new specific plan has led to denser development proposals that could transform the office and residential neighborhood.
Development: Woodland Hills Specific Plan 2035 sets the stage for a building boom.
Services: Arvato’s loss of contract prompts job cuts despite lease renewal.
Services: Loss of a contract at Arvato will put 175 people out of work in Valencia.
Apparel: Cherokee Inc. buys Tony Hawk clothing brand for $19 million from Quiksilver and prepares line for international launch.
Apparel: Cherokee’s purchase of Tony Hawk matches with its international strategy.
Resident of Encino had lessons for business, says writer.
Publishing: New biography of John Wooden looks as his Valley-based public speaking career.
Tiny sensor allows brains to communicate with robotic limbs.
Biotech: Alfred Mann Foundation pioneers robotic limb control.
Curling enthusiasts learn Olympic sport at Panorama City rink.
Fitness: The Sochi Olympics puts the sport of curling back in play.
Manufacturing: MGA files new lawsuit against Mattel.
Manufacturing: Toy maker MGA launches another lawsuit against rival Mattel Inc.
Law: Online services firm to expand using private equity.
Law: With $200 million in fresh capital, LegalZoom is primed to grow.
Boutique renewal set for faded Beverly Garland
Hospitality: Will a $20 million facelift bring Hollywood stars to the Beverly Garland hotel?
Editorial Cartoon SFVBJ - January 27, 2014
TAKE TWO - This week's Editorial Cartoon by Steve Greenberg
Expansion: Americas United buys outpost held by San Diego-area bank.
The acquisition of the Lancaster office of Silvergate Bank by Americas United Bank this month is a deal that has its roots deep in the shifting demographics of the Antelope Valley.
New manufacturing process subject of local printing expo.
Event: Burbank trade show highlights the future of 3-D printing.
What’s wrong with this picture? Leading independent films at festival were made outside Callifornia.
Op-Eds: Film tax credits in the Valley.
Market Watch Summary
The stock market got the new year off to a sluggish start in the two-week period ended Jan. 22, with the Dow Jones Industrial index declining 0.5 percent.
News and notes from around the greater San Fernando Valley
Allied Beverages Inc., a major Southern California beer distributor, is now a unit of the nation’s largest beer distributor.
Submarket Reports: Major trends and deals during the quarter. Conejo Valley
Submarket Reports: Major trends and deals during the quarter. Santa Clarita Valley
Submarket Reports: Major trends and deals during the quarter. San Fernando Valley
Submarket Reports: Major trends and deals during the quarter. Burbank and Glendale
Submarket Reports: Major trends and deals during the quarter. Antelope Valley
The Warner Center 2035 Specific Plan has flexible building-height regulations and streamlined entitlements, but zoning varies by neighborhood. Several projects are already planned.
Map: The eight districts of Woodland Hills.
With the passing of the new Warner Center 2035 Specific Plan, the floodgates are indeed open for large development.
Get ready for some big changes at Warner Center.
Friday, January 24
Van Nuys Airport reported an increase of 3.6 percent in aircraft operations last year after a turndown in 2012, officials said Friday.
Los Angeles County’s unemployment rate fell to 9.2 percent in December, its lowest point in more than five years, according to state figures released Friday.
Thursday, January 23
Natalie Mussi has been appointed chief executive of Los Robles Hospital and Medical Center after five years at the Hospital Corp. of America facility
The Camarillo Business Center, a seven building, 400,000-square-foot office park, has signed two new tenants to leases valued at $17.6 million.
Aerospace, marine and energy products manufacturer Teledyne Technologies Inc. beat analysts' estimates on revenue and earnings for the fourth quarter, the company reported Thursday.
Wednesday, January 22
Kennedy Wilson on Wednesday said it has acquired an aging 132,995-square-foot retail center in North Hollywood that includes undeveloped property.
Cast & Crew Entertainment Services has started a new division to provide government incentive-backed financing for film and television productions.
Private financing firm Quail Capital Corp. has formed a business unit to provide funding for customers wanting to purchase audio and lighting products from Harman International Industries Inc.
Tuesday, January 21
A moving company has purchased a 124,000-square-foot land parcel in San Fernando with plans to build a new headquarters.
Mid-range grocer Albertson’s is closing 11 markets in Southern California, including four in the Valley area, a company spokeswoman said Tuesday.
Monday, January 20
Thermal ticket and receipt printer manufacturer FutureLogic Inc. has named a new chief executive and made other changes to its senior management.
A company that manufactures and distributes wood flooring has purchased a corporate headquarters in Simi Valley for nearly $4 million.
Friday, January 17
Reyes Beverage Group's estimated $225 million acquisition of Sylmar beer distributor Allied Beverages Inc. closed Friday afternoon.
Venture capital activity in the United States increased overall last quarter and last year, but that trend skipped Los Angeles and the Valley.
The name change of Dryden Flight Research Center has become official following President Barack Obama signing of a congressional resolution to rename the center after late Apollo astronaut Neil Armstrong.
The commercial office market in the Conejo Valley and Ventura County should show marked improvements this year, according to CBRE Group Inc.
Capstone Turbine rises on orders. Rexford picks up Valley property.
Thursday, January 16
The Antelope Valley is losing a strong advocate for the aerospace industry with the retirement of Rep. Howard “Buck” McKeon
San Fernando Valley home prices soared in December, with the median price reaching $475,000, a 22 percent increase over a year earlier, according to a report released on Thursday by the Southland Regional Association of Realtors.
Home foreclosures continued to drop last month in Southern California, with rates in the greater Valley varying widely, according to a report released Thursday.
A Chatsworth man was arrested Thursday on charges of running a nearly $4 million Ponzi scheme that targeted Latinos, according to the U.S. Attorney’s Office.
Air charter and cargo services provider Ameriflight LLC has been acquired by Pebbles Aviation LLC, an investment group in Sarasota, Fla., the companies announced on Thursday.
Amgen Inc. has announced two partnerships that the Thousand Oaks biotech hopes will eventually expand its product offerings to treat bowel disorders and colorectal cancer.
Wednesday, January 15
MRV Communications Inc. in Chatsworth will supply networking equipment to the newest data center in New York City. Aerospace parts supplier Ontic in Chatsworth has signed a licensing agreement for parts used on military helicopters and commercial airliners.
Fast-casual pizza chain PizzaRev has signed franchise agreements for more than 20 new outlets in five states.
Home furnishings retailer Ikea has moved one step closer to opening a new Burbank outlet that will be the largest for the chain in the United States.
Tuesday, January 14
More TV shows, movies and digital videos were filmed on location in Los Angeles last year than in 2012, according to a report released Tuesday by FilmL.A. But the long-term trends aren’t as encouraging.
The House of Representatives passed a yearlong spending package on Wednesday that includes a provision requiring the FAA to take more action to reduce helicopter noise in Los Angeles County generated by operators based at Van Nuys Airport and elsewhere .
A North Hollywood businesswoman has pleaded guilty to defrauding Medicare of nearly $10 million.
LTC Properties Inc. announced on Tuesday it will not renew leases with two Wisconsin firms that operate more than a third of its assisted living facilities.
The California Assembly Transportation Committee has approved a bill that can pave the way for light rail in one section of the San Fernando Valley.
Monday, January 13
MGA Entertainment Inc. on Monday said that it has again sued rival toymaker Mattel Inc. for trade-secret theft related to the two companies’ longstanding battle over MGA’s popular Bratz doll line.
Van Nuys apparel brand licensing company Cherokee Inc. announced Monday it has purchased the brands associated with legendary skateboarder Tony Hawk.
National Technical Systems Inc. announced Monday it will provide testing for devices connected to Pacific Gas & Electric SmartMeters.
Salem Communications Corp. has purchased the assets of Eagle Publishing, a conservative book and Internet publisher.
Grocery: Acquisition by Texas firm expected to accelerate store openings.
Grocery: Gelson’s has new owners with deep pockets, but can it compete?
Market Watch Summary
The stock market finished strong the three-week period ended Jan. 8.
News and notes from around the greater San Fernando Valley
Technicolor SA has closed down its film lab, the last of the entertainment service company units operating in the country.
Automotive: Star Ford Lincoln breaking ground on $10 million renovation.
The Star Ford Lincoln dealership on the “Brand Boulevard of Cars” in Glendale is getting a $10 million makeover.
Medical: Grossman expands to Kansas City through deal with HCA.
Grossman Burn Center has opened an office in Kansas City, Mo., the organization’s first presence in the Midwest and a move in contrast to national trends.
Development: In ‘N’ Out agrees to build toned down outlet in Westlake Village.
The neon red-and-yellow arrow signs that have helped make In-N-Out Burger a landmark will get a makeover when the burger chain opens at the new Shoppes at Westlake Village.
Production: City creates liaison position to speed issuance of film permits.
The Glendale City Clerk’s office wants to send a message to the entertainment industry: film in the city and there will be someone on your side to make the process smooth.
The creator of the ‘Chickenman’ radio spoof is still doing voice work at 80, while his Famous Radio Ranch in Sherman Oaks remains a leading studio.
Q&A: After 40 years of writing radio ads, Dick Orkin’s humor still sells.
Investments: Westside banker looks beyond serious illness to advise Valley companies.
Investments: Alexander Cappello advises two Valley corporations – Cheesecake Factory and Sport Chalet.
Hidden Variable’s latest offering based on tic-tac-toe.
Telecom: Glendale game studio releases “Tic Tactics” for mobile phones.
Special Olympics to test meddle with high participant plateau.
Philanthropy: This charity event will raffle off a Calabasas home – if enough tickets sell.
Longtime burger chain down to last location in Los Angeles.
Restaurant: The Hamburger Hamlet chain has shrunk to its last outlet.
Warner Bros. casts new archivist to care for props, wardrobe.
ENTERTAINMENT: The archivist at Warner Bros. makes the studio’s past accessible.
Technology: Two of the centers opening in greater Valley region.
Technology: Incubators and accelerators hope to speed up local economic growth.
Development: Spec builder bets ObamaCare will bring buyers.
Development: Toneman Development bets doctors will want to own, not lease, office space.
Local farmer is sole pepper supplier for Sriracha
Agriculture: A farm in Ventura County grows the chilies causing the big stink at Sriracha hot sauce.
Operator of charter flight service calls on the National Park Service to reopen Santa Cruz Island airstrip.
Op-ed: Opening up Santa Cruz Island.
Editorial Cartoon SFVBJ - January 13, 2014
TAKE TWO - This week's Editorial Cartoon by Steve Greenberg
Friday, January 10
Mannkind Corp. announced on Friday that a Food and Drug Administration committee is scheduled on April 1 to review the application for its Afrezza brand of inhalable insulin.
Signature Flight Support Corp. closed this month on its deal to acquire the assets of Maguire Aviation Group LLC at Van Nuys Airport.
Jonathan Peacock, the chief financial officer of Amgen Inc., stepped down from his position Friday but will remain with the company until May to assist in the transition.
Sub-orbital space vehicle SpaceShipTwo made its third rocket-powered flight Friday at the Mojave Air & Space Port.
DreamWorks Animation SKG Inc. has teamed up with YouTube to create a new series, “YouTube Nation,” according to media reports on Friday.
Thursday, January 9
Ron Nichols, the embattled Department of Water and Power chief, announced on Thursday his resignation amid growing financial and administrative controversies at the Los Angeles city agency.
Two workers suffered injuries in an explosion at an Amgen Inc. lab in South San Francisco on Wednesday.
SolarWorld USA will close its Camarillo administrative and research facility next month, a move that will eliminate 59 employees
Wednesday, January 8
The Van Nuys Airport Citizens Advisory Council on Tuesday voted to recommend acceptance of a report that a new hangar project would not cause any environmental impacts.
DineEquity Inc. announced Wednesday its subsidiary, Applebee’s, revamped its kid's menu to include healthier choices.
Tuesday, January 7
A foundation established by the late Daniel Ludwig, a shipping magnate and founder of Westlake Village, has donated $540 million to six cancer programs.
Former Los Angeles Mayor Antonio Villaraigosa has become a senior adviser for Estrella TV, a Spanish-language broadcaster based in Burbank, according to media reports.
Monday, January 6
LegalZoom plans to sell $200 million worth of its privately held shares to an affiliate of a British private equity fund, rather than go public as previously announced, the company said Monday.
Heavy snow and frigid temperatures in the Midwest and East Coast are affecting some flights at Burbank Bob Hope Airport on Monday.
Friday, January 3
Marvel Entertainment will publish “Star Wars” comics and graphic novels starting next year, the company announced Friday.
Bronson ups Qualstar stake. United Online hires general counsel. Ryland Group opens luxury development.
Thursday, January 2
Audio product manufacturer Line 6 Inc. of Calabasas has been acquired by Yamaha Corp.
Valley movie studios produced some huge box office returns last year, with Warner Bros. leading the pack with $4.95 billion in worldwide box office.
Amgen announces positive study results. LTC declares monthly dividends. Public Storage and Dole floats win at Rose Parade.