Stories for November 2014
Wednesday, November 26
A two-building industrial park in Camarillo has traded hands for $54.5 million.
An experimental drug from Amgen Inc. has proven successful in treating moderate to severe psoriasis, the company announced Tuesday.
Simulations Plus Inc. reported lower net income in the fiscal fourth quarter, blaming one-time costs associated with an acquisition.
Tuesday, November 25
Kinkisharyo International reached an agreement on Tuesday with labor and community groups that will keep light rail manufacturing jobs in Palmdale and not take them out of state.
AeroVironment Inc. missed analyst estimates on revenue and earnings per share as sales of its unmanned aircraft decreased in the fiscal second quarter.
Shoppers polled for the National Retail Federation’s annual Holiday Top Toys Survey have chosen dolls from Walt Disney Co.’s “Frozen” as their top gift choice for girls.
Monday, November 24
Cal State Northridge has received an additional $6 million in donations toward its $25 million fundraising campaign for its business school.
Amgen Inc. announced on Monday it has ended two clinical studies on an experimental cancer drug after a preliminary review showed increased deaths among one group of patients.
Home prices in the San Fernando Valley rose by 12 percent in October compared to a year earlier but were down since September, according to report released Monday by the Southland Regional Association of Realtors.
Tutor Perini Corp. and two joint venture partners reached a $88.7 million settlement with the state of Massachusetts over litigation on the “Big Dig” project through central Boston.
PS Business Parks sells property. Second Sight underwriter exercises overallotment.
Friday, November 21
Los Angeles County employers added 35,000 jobs to their payrolls in October but that was not enough to reduce the area’s unemployment rate, which held steady at 8 percent, according to state figures released Friday.
Walt Disney Co. has expanded its partnership with Shanghai Media Group to create content for the Chinese market, the company announced Friday.
American Homes, Ryland Group and Public Storage raise capital. Wesco CFO retires.
Thursday, November 20
The Mann Biomedical Park in Valencia and Sylmar Biomedical Park in the San Fernando Valley, both owned by Alfred Mann, have been sold to Intertex Cos. in Valencia with financial backing from L.A. investment firm Oaktree Capital Management.
Amgen Inc. announced on Thursday the completion of its Next-Generation Biomanufacturing facility in Singapore, which it said would provide a model for future plants.
Acting on a promise to cut bureaucratic red tape at City Hall, L.A. Mayor Eric Garcetti on Thursday announced a measure to speed up building inspections for major projects and restaurants.
The California Public Utilities Commission on Thursday approved a settlement between utilities and ratepayer advocates over who should pay the $4.7 billion cost to date of shutting down the troubled San Onofre nuclear power plant.
Tutor Perini wins contract. Earnings lag at Westco Aircraft Holdings Inc. and Ceres Inc.
Wednesday, November 19
Shares of Second Sight Medical Products Inc. – the latest Alfred Mann company to go public – more than doubled Wednesday in its initial public offering.
PRN Ambulance in North Hills has reached an agreement to merge with Pro Transport-1, a major ambulance operator in Northern California.
DreamWorks Animation delays film release. Warner Bros. Home Entertainment to distribute WWE programming.
Cherokee announces India retail partnership. Chatsworth industrial sale.
Tuesday, November 18
SGB-NIA Insurance Brokers in Woodland Hills has been acquired by Arthur J. Gallagher & Co., a publicly traded company that is the Valley’s leading brokerage.
California Sen. Barbara Boxer has re-introduced legislation to solve a long-standing dispute over a sand-and-gravel mine in Santa Clarita.
The explosion last month of an unmanned rocket made by Orbital Sciences Corp. is delaying its planned merger with Alliant Techsystems Inc.
Walt Disney Co. announced on Tuesday it is making its cloud-based movie streaming service available to film titles purchased at Wal-mart stores or through the retail chain’s VUDU on-demand service.
Second Sight Medical Products Inc., a maker of an artificial retina for blind patients, delayed its planned $30 million IPO until Wednesday.
Apollo Medical Holdings swings to profit. Net earnings soar at Mission Valley Bancorp.
Monday, November 17
Shares in DreamWorks Animation SKG Inc. fell more than 14 percent on Monday, the first trading day since reported merger talks with Hasbro Inc. ended.
Universal Pictures opened its first office in Beijing on Monday to handle production and distribution of films and consumer products in the lucrative Chinese market.
The Center for Disease Control and Prevention on Monday was investigating the cause of a Norovirus outbreak on a Princess Cruises ship that caused 170 people to fall ill.
The operator of California United Bank has received shareholder approval for its merger with downtown L.A. lender 1st Enterprise Bank.
Superior Industries Chief Executive named to Snap-on Inc. board. Sierra Bancorp completes its acquisition of Santa Clara Valley Bank.
Market Watch Summary
Stocks reacted positively to good economic news during the two-week period ended Nov. 12.
Retail: Glendale online legal firm in alliance with Wal-Mart.
Retail: LegalZoom signs an agreement with the world’s largest retailer to reach small business owners.
Aerospace: No rush for exits after Galactic crash.
Aerospace: The crash of Virgin Galactic’s spaceship hasn’t deterred ticket-buyer Edwin Sahakian.
List: Enrollment is falling, but new accreditation could increase the value of local MBA degrees.
While much of the news coverage of the Oct. 31 Virgin Galactic crash focused on the effect on space tourism, the tragedy actually had broader commercial implications.
Hovelstay a hit with travelers into garages, lofts, even hammocks.
Hospitality: Adventurous travelers can skip hotels and go to Hovelstay.com.
Antelope Valley city promotes itself on Chinese social media.
Development: Lancaster uses social media to reach business executives in China.
USC starts clinical trial to study stem cell treatment on joints.
Innovation: A stem cell study in the Antelope Valley could lead to new therapies for knee pain.
Ecommerce: Made Eyewear allows customers to order custom glasses – and return them.
Ecommerce: Online retailer Made Eyewear lets customers try the merchandise before buying.
Theaters: Dolby acquires Doremi Labs in Burbank for at least $92.5 million.
Technology: Dolby’s acquisition of Doremi Labs will try to marry audio and video gear.
Health Care & Biotech: New patient building will add 116 beds to non-profit facility.
Henry Mayo Newhall Memorial Hospital recently hired an architectural firm and builder to construct a 160,000-square-foot, six-story tower on its Valencia campus.
Finance: Agoura Hills firm looking to expand after receiving $13 million.
With $13 million in new funding, Tipalti is looking to grow in employees and services.
Entertainment: David Gajda buys back Woodland Hills firm he sold to Cinedigm.
When Cinedigm Corp. was looking to sell its Woodland Hills-based Hollywood Software division, David Gajda saw an opportunity to get back into the entertainment industry with a business he was already familiar with.
Real Estate: Developers plan up to 314 homes, some on half-acre lots for horses.
After a decade of waiting, a major housing development in the San Fernando Valley is finally ready to move forward – though not quite as large as initially envisioned.
Lancaster wants to be the first “net zero” city in the world, meaning it produces at least as much energy as it consumes.
News and notes from around the greater San Fernando Valley
A Chatsworth man has been sentenced to more than 10 years in federal prison and ordered to pay $4.6 million in restitution after being convicted of running a Ponzi scheme that cost 82 victims about $7 million.
Group behind Propositions 45 and 46 to continue seeking insurance-rate regulation, malpractice law changes.
Op-Ed: Money talks in elections.
Luis Cayo’s mechanical engineering degree got him jobs running Budweiser breweries worldwide, and now Van Nuys.
Q&A: Brew master Luis Cayo traveled the world for a good beer and found it in Van Nuys.
Disney unloading radio stations amid digital revolution
Entertainment: Disney is selling 23 stations, but the Radio Disney format will live on.
Friday, November 14
Merger talks between DreamWorks Animation SKG Inc. and Hasbro Inc. have ended, according to media reports late Frida
Glendale was named the most business-friendly large city in the county Thursday night by the Los Angeles County Economic Development Corp.
Valley businessman Edwin Sahakian doesn't plan to give up his $200,000 ticket to fly into space on Virgin Galactic despite the crash that killed a test pilot.
A strategic alliance between LegalZoom.com Inc. and Sam’s Club will merge online and in-store marketing strategies to sell legal services to small business owners.
Thursday, November 13
The pilot of Virgin Galactic’s SpaceShipTwo was still strapped to his seat as the vehicle broke apart around him during a test flight in the Antelope Valley last month, according to media reports
A 30-unit apartment building in Burbank has traded hands for about $8.5 million.
Wednesday, November 12
Vista Ridge Apartment Homes, an 81-unit apartment complex in Sylmar, has traded hands for $14.3 million.
Southern California home sales slowed in October as prices have begun to stabilize, according to a report released Wednesday.
Capstone sells turbine to Italian pasta maker; Interlink Electronics swings to profit.
Tuesday, November 11
The AIDS Healthcare Foundation has formed a campaign committee to collect signatures for a ballot initiative that would require condom usage in adult films made in California.
A Chatsworth man has been sentenced to more than 10 years in federal prison after being convicted of running a Ponzi scheme that cost 82 victims about $7 million.
A pair of Canadian businessmen is set to become the new owners of the Lancaster JetHawks minor league baseball team.
Monday, November 10
A portion of the former Panavision headquarters site in Warner Center has been sold to a local builder that plans a development of 232 multifamily units.
A 44-acre office-and-industrial park in Northridge has been purchased by a joint partnership of Shubin Nadal Realty Investors of Newport Beach and DRA Advisors LLC in New York.
FDA accepts Amgen cholesterol drug application. Qualstar and Unico American report earnings.
Friday, November 7
Thousand Oaks resident John Shields, who shepherded grocer Trader Joe’s through a major national expansion, died Oct. 31 after a long illness. He was 82.
Higher advertising revenue contributed to Crown Media Holdings Inc. reporting strong third-quarter earnings on Friday
Thursday, November 6
Walt Disney Co. beat analysts’ profit estimates by a penny in its fiscal fourth quarter, helped along by a strong box office showing of “Guardians of the Galaxy.”
Supporters of the Pierce College Farm Center attended a Los Angeles Community College District board meeting Thursday afternoon, demanding an investigation into the school’s eviction of the Pierce College Farm Center.
A former finance manager at a prominent reality TV production studio was sentenced to two years in federal prison on Thursday for embezzling $2.5 million from his former employer, the U.S. Department of Justice announced.
Marcus & Millichap enjoys real estate rebound. Capstone Turbine sales lose power. Netsol's wider losses beat estimates.
Wednesday, November 5
Measure S, a controversial ballot measure on billboards in Santa Clarita, was defeated by city voters on Tuesday.
Studio City entertainment and media-software developer FilmTrack has acquired music-rights management firm Dashbox Inc and scored $10 million in financing.
A North Hollywood startup that helps accountants close the books has received $1.3 million in financing.
The Glendale City Council voted to give design approval for a $105 million mixed-use development in the city’s downtown.
Mayor Eric Garcetti announced on Wednesday the launch of an initiative to connect small-business owners with experts who can give them advice over the phone, via video chats or in person.
Ixia misses analysts' estimates. Construction projects boost Tutor Perini. Sister Penny Macs report rising income.
Tuesday, November 4
Warner Bros. Entertainment began on Tuesday making staffing cuts that are expected to hit about 10 percent of the company’s employees.
Reach Local reports widening losses. United Online misses on profit.
Monday, November 3
Federal investigators were focusing Monday on a descent mechanism as the possible cause of the crash of a Virgin Galactic space vehicle in the Mojave Desert that killed one pilot and injured a second.
Aluminum wheel manufacturer Superior Industries International Inc. said Monday it swung to a loss in its fiscal third quarter, blaming a plant closure and proxy battle for its weak results.
Health Net Inc. reported a third quarter loss on Monday after the health insurer incurred big expenses associated with a new information technology system that will allow the company to handle more clients and process more claims.
Doremi Labs, a Burbank digital cinema equipment company, was acquired by Dolby Laboratories Inc., in a $92.5 million deal that closed on Monday.
Losses narrow at MannKind. American Homes misses on FFO. Mortgage loan originations boost LTC.
Distribution: Burbank industrial-tool and supply company run by three sisters.
Distribution: Three sisters run a tool supplier that ranks among the Valley’s fastest growing companies.
Finance: Snack maker reaches deal with Chaucer to emerge from Chapter 11.
Finance: A bankruptcy and hostile takeover attempt end in peace for Crunchies.
Law: Startup settles small claims suits online via algorithm and credit cards.
A new website could help settle small-claims cases.
Restaurants: Casual eatery serves local, organic fare on plates with silverware.
Restaurants: Sharky’s serves upscale Mexican food for the health conscious.
Manufacturing: Lief Labs makes protein powers, vitamins for brands.
Manufacturing: The burgeoning nutrition supplement market puts three companies on the fast growth list.
Retail: Target sells PackIt freezable gel bags for lunches and other uses.
Retail: When her children didn’t eat their school lunches, Melissa Kieling got the idea for her business.
Fiona Hutton has built one of the Valley’s most successful PR firms by avoiding partisan politics and not getting too big.
Q&A: Fiona Hutton has moved from politics and PR to find her niche in public affairs.
Real Estate: Receiver sells two Valley-area hotels after apparent family rift.
The last three properties of a five-hotel portfolio mostly located in the Valley area have been sold out of receivership.
News and notes from around the greater San Fernando Valley
LegalZoom.com Inc. has joined with Sam’s Club in a strategic sales agreement that will broaden how the Glendale company sells its do-it-yourself legal documents and services.
Labor’s ‘greenmail’ tactics are halting development up and down state, not just in the Antelope Valley.
Op-Ed: Kinkisharyo, poster child for CEQA reform.
Music-licensing firm has big presence on video website
Entertainment: AudioMicro has found a way to make money on YouTube.
Economy: Groups feel higher minimum pay will reduce services.
Economy: L.A.’s proposed minimum wage could hurt charity groups.
Biotech: Amgen’s cost-cutting draws applause on Wall Street and worries on Main Street.
Fastest: Digital technology and online companies lead the charge for fast growth.
California labor law notices demand artsy touch in the cafeteria.
Regulatory: California leads the nation when it comes to employee posters.
Housing: Fifield Cos. takes over Amidi project downtown.
Housing: The developer of a large apartment complex in Glendale has pulled out. A Chicago luxury firm is in.
Valley mother founded rapidly expanding company on laptop.
Events: Anything 2 Everything produces get-togethers for a high-tech clientele.
Optical sensors detect plastics for recycling at Sun Valley plant.
Innovation: Optical sensors sort plastic at a new recycling center in Sun Valley.