Stories for January 2015
Friday, January 30
Mattel Inc.’s interim chief executive told investors on Friday the toymaker will make needed changes “with a heightened sense of urgency” as the company reported weak sales and earnings for the final quarter of last year.
IPC acquires Florida doctors group. Signature Group prices offering. Capstone Turbine announced order.
Thursday, January 29
Two Valley residents suspected of leading an insurance fraud ring were arrested Thursday along with 13 others for allegedly staging auto collisions and filing for half a million dollars in bogus claims.
The AIDS Healthcare Foundation sent a letter this week to Los Angeles County officials asking that the county begin enforcing mandatory condom usage for adult film shoots – or face legal action.
Ryland Group Inc. reported fourth-quarter and full-year earnings on Thursday that beat Wall Street estimates as the company benefited from higher home sales and pricing.
Teledyne Technologies beats net income estimates. Nickelodeon to launch online programming.
Wednesday, January 28
Hawthorne manufacturer OSI Systems Inc. will vacate its Camarillo plant by April 30 to consolidate operations at its headquarters, company officials reported to the state’s Employment Development Department earlier this month.
The Sears store at Westfield Topanga will close in May – the second major closing of an anchor store at a Westfield Group mall in the West Valley this month.
Walt Disney Co. is looking for tech startups to participate in its second Disney accelerator program.
Tuesday, January 27
Two trade groups representing large hotels in Los Angeles announced they have filed for a preliminary injunction to block the city from implementing its law raising hotel wages until their lawsuit against the city is resolved.
Amgen Inc. reported fourth-quarter and full-year financial results on Tuesday that topped analysts’ estimates as the company reaped the benefits of previously announced layoffs, a tax credit and strong drug sales.
Park Oaks, a Thousand Oaks retail center, has changed hands as part of a $109 million portfolio sale of three shopping centers.
Monday, January 26
This summer travelers can spend time with Elsa, Anna and other characters from the hit animated film “Frozen” on Disney Cruise Lines.
Toymaker Mattel Inc. announced Monday that Bryan Stockton has resigned as chief executive and Christopher A. Sinclair, who has served on the toy company’s board since 1996, is the new chairman and interim chief executive.
Cynvenio Biosystems Inc. has signed an agreement giving Thermo Fisher Scientific the right to sell its LiquidBiopsy technology.
Health Care & Biotech: Anthem-backed Cal Index chided over patient privacy concerns.
Cal Index is a simple concept: Make electronic medical records universally available for qualified personnel.
Retail & Hospitality: Washington chain taking over 13 Valley-area supermarkets.
Supermarket shoppers in the greater Valley should prepare for new competitors at old, familiar locations.
Development: Critics pan idea for housing at Woodland Hills site.
Development: A proposal to turn a post office into an apartment building delivers big surprises.
President Obama’s plan to provide free community college education will pay economic dividends.
Op-Ed: The ROI of community college.
Market Watch Summary
Stocks showed minimal improvement for the two-week period ended Jan. 21, during which markets were volatile because of oil prices.
News and notes from around the greater San Fernando Valley
A U.S. Food and Drug Administration advisory panel unanimously recommended the agency approve a “biosimilar” version of Amgen Inc.’s cancer drug Neupogen.
Reports: Major office and industrial deals in Valley-area submarkets. (Antelope Valley)
Reports: Major office and industrial deals in Valley-area submarkets. (Santa Clarita Valley)
Reports: Major office and industrial deals in Valley-area submarkets. (Burbank and Glendale)
Reports: Major office and industrial deals in Valley-area submarkets. (Conejo Valley)
Reports: Major office and industrial deals in Valley-area submarkets. (San Fernando Valley)
There are multiple industrial and office projects in varying stages of completion throughout the Antelope Valley. Here are some prominent examples.
Examples of industrial and office projects in varying stages of completion throughout the Antelope Valley.
Lancaster Business Park still has space for new occupants 30 years after it opened.
Profile: Lancaster Business Park exemplifies the challenges of high desert real estate.
Cities and developers in the Antelope Valley are beckoning companies to come to the desert, but will cheap and plentiful land be enough of a draw?
Industry: Antelope Valley developers and city officials try to match industrial properties with specific clients.
Hospitality: Planned Hampton Inn would add to meager hotel base in Simi Valley.
Hospitality: Will a bell tower call travelers to Simi Valley’s Hampton Inn?
Indian Ocean tragedy creates unusual wood source for furniture.
Innovation: Old wood from fishing boats finds new life in home decor.
Daiso outlet a hit with shoppers who favor Asian flavor.
Retail: Daiso combines the dollar store concept with Japanese merchandise.
Biotech executive, wife donate development land to Santa Clarita.
Real Estate: Santa Clarita entrepreneur donates land for open space.
Manufacturing: La Brea Bakery opens a high-volume factory for artisan bread.
Acquisitions: Signature chief sees Fortune 500 future.
Acquisitions: Signature’s $525 million buy of a metal recycler sets a model for future deals.
Friday, January 23
Shares in DreamWorks Animation SKG Inc. dropped nearly 8 percent on Friday, the day after announcing a restructuring of the feature film division that includes 500 layoffs and scaling back the number of movies released.
Amcal Multi-Housing Inc. ran into a firestorm of questions this month from residents concerned about its plan to redevelop the Woodland Hills post office site with 335 luxury apartments.
When it comes to industrial and office development in the Antelope Valley, Lancaster and Palmdale have had their share of home runs - but whiffs as well. We run down the action in our fourth quarter real estate special report.
L.A. County’s unemployment rate fell to 7.9 percent in December, the first time it was below 8 percent since mid-2008, state figures released Friday show.
Thursday, January 22
Two top executives are leaving DreamWorks Animation SKG and 500 employees - or nearly a quarter of its workforce - are being laid off, after yet another poor box office showing.
Signature Group Holdings Inc. intends to sell subscription rights to existing shareholders so they can purchase new shares, raising up to $55 million for an acquisition.
City National Bank of Los Angeles has been acquired by Royal Bank of Canada for $5.4 billion, or $93.80 a share, in a cash-and-stock deal, the two firms announced Thursday.
Wednesday, January 21
The president of a Calabasas company accused of orchestrating a 13-year-long Ponzi scheme pleaded guilty Wednesday.
A three-building office campus across the street from Providence Tarzana Medical Center has changed hands.
Antelope Valley College is one of 15 community colleges in California chosen to develop a program offering bachelor’s degrees.
Cherokee signs licensing agreement with U.K. retail chain, Dick's Sporting Goods moves into Glendale Galleria.
Tuesday, January 20
On Assignment Inc. announced Tuesday that it will sell its physician staffing segment, Vista Staffing Solutions Inc., for $123 million.
Mandalay Digital Inc.’s stock began trading under the ticker symbol “APPS” on Tuesday as the company settled into its new headquarters in Texas.
DreamWorks Animation SKG Inc. is planning layoffs of several hundred employees as box office troubles continue to plague the company, according to media reports.
Glendale insurance firm SIU Managers, which specializes in the earthquake market, has been acquired by Newport Beach-based Alliant Insurance Services Inc.
Monday, January 19
Walt Disney Co. Chief Executive Robert Iger received a 35.5 percent increase in his total compensation last year, according to a filing with the U.S. Securities and Exchange Commission.
Friday, January 16
Four Valley-area firms raised a total of $25 million in venture capital money in the fourth quarter, according to a report released Friday by PricewaterhouseCoopers and the National Venture Capital Association.
Virgin Galactic has been named as the launch provider for OneWeb Ltd., a satellite technology startup proposing to create a satellite network to supply high-speed Internet connections.
Thursday, January 15
Rep. Adam Schiff came out in opposition on Thursday to a proposed alignment of the state’s high-speed rail project that would burrow a tunnel beneath the Angeles National Forest.
L.A. County foreclosures jumped significantly in December, but despite the month-over-month increase, last year’s foreclosure rate was down from 2013, according to a report released Thursday.
CEO of maintenance firm laments lack of qualified technicians, other obstacles.
Regulation, manpower issues could slow IT adoption.
Camarillo semiconductor maker Semtech Corp. has acquired EnVerv Inc., a Bay Area supplier of components used in smart electrical grids.
Accountable care groups aim to make treatment more effective and efficient.
Can accountable care organizations shake up how providers work together?
High-tech advances are about to revolutionize patient care, but it will take challenging the status quo.
Local executives describe their vision for the “Hospital of the Future.”
The popular CicLAvia cycling event is coming to the San Fernando Valley on March 22 with a route that will send cyclists through the area’s major business thoroughfares, organizers announced on Thursday.
Second Sight Medicals Product 's prosthetic sight system has been approved for use in Canada. Simulations Plus Inc. announces quarterly cash dividend
Wednesday, January 14
The Los Angeles County Business Federation on Wednesday formally announced its opposition to proposals to hike the minimum wage in Los Angeles to at least $13.25 an hour.
Amgen Inc. has inked a licensing deal with a new immuno-oncology company launched by NantWorks, L.A. billionaire Patrick Soon-Shiong’s holding company.
Los Angeles Valley College broke ground Wednesday on an expansion that will include new administrative offices, a jobs center and athletic facilities.
SeaPort Airlines Inc. is expanding service from Burbank Bob Hope Airport to the San Joaquin Valley, which will provide passengers easier access to the state capitol.
Briefs: Warner Music acquires Westlake Village firm. Interlink Electronics strikes sales deals.
Tuesday, January 13
On-location filming in the Los Angeles area increased nearly 10 last year with television dramas showing the biggest leap, according to a report released Tuesday by FilmL.A.
“Big Hero 6” from Walt Disney Animation Studios and "How to Train Your Dragon 2” from DreamWorks Animation SKG received multiple nominations on Tuesday from the Visual Effects Society in Sherman Oaks.
The 5-acre Thousand Oaks business park near Westlake Boulevard received multiple offers.
Monday, January 12
The Los Angeles Marriott Burbank Airport hotel, the second-largest in the Valley at 488 rooms, has changed hands for more than $100 million, the buyer announced on Monday.
MannKind Corp. announced on Monday that Alfred Mann, its chairman and founder, stepped down as chief executive on Jan. 9 and was replaced by Hakan Edstrom, the company’s president.
“How To Train Your Dragon 2” from DreamWorks Animation SKG Inc. won the best animated feature film award on Sunday at the Golden Globes besting "The Lego Movie."
Santa Clarita saw an 8 percent increase in the number of permits issued in 2014 for television and feature film production, the city announced on Monday.
Signature Group Holdings Inc. said Monday it has sold $305 million in secured notes and an operating subsidiary to help finance an acquisition.
Entertainment: Lyynks Music targets independent artists to carve out market niche.
Independent performers, music venues and record labels have a new channel to distribute their content to fans.
Acquisition: Nutritional supplement maker Natrol is bought out of bankruptcy.
News and notes from around the greater San Fernando Valley
Haggen Food & Pharmacy, a Bellingham, Wash. grocery chain, is buying more than 83 Albertsons, Pavilions and Vons stores in California, of which there are more than 30 in the greater Valley.
Profiles - Clay Lacy: Look into the lives of local executives who still work into their seventh decade and beyond.
Profiles - Bert Boeckmann: Look into the lives of local executives who still work into their seventh decade and beyond.
Profiles - Sanford P. Paris: Look into the lives of local executives who still work into their seventh decade and beyond.
Profiles - Judy Weber: Look into the lives of local executives who still work into their seventh decade and beyond.
Profiles - Stuart Solomon: Look into the lives of local executives who still work into their seventh decade and beyond.
Profiles - Ron Tutor: Look into the lives of local executives who still work into their seventh decade and beyond.
Profiles - Jim Dunn: Look into the lives of local executives who still work into their seventh decade and beyond.
Giving & Non-Profits: Charter school students lead campaign for Make-A-Wish group.
This past holiday season students from Granada Hills Charter High School were so occupied with giving that they didn’t have time to daydream about their own Christmas presents.
Law: Narrow networks prompt both class action and individual complaints.
In response to the Affordable Care Act, insurance companies have lowered the cost of health coverage by limiting the number of doctors in their payment networks.
Aerospace: Shares of Wesco have hit 52-week highs and lows recently.
Aerospace: Wesco’s stock has soared high and slumped low since October.
Footwear: Gravity Defyer’s comfort shoes are taking off despite premium pricing.
Footwear: After a wobbly start, Gravity Defyer seeks to open a branded store in the Valley.
Former military crafts give Channel Islands school academic edge.
Innovation: Drones fly into the classroom at Cal State Channel Islands.
Security: Delta Scientific sells traffic control gear to Windsor Castle.
Job training programs boost enrollment at College of the Canyons.
Education: Last year, College of the Canyons trained 5,000 workers for local companies.
Technology: New Ixia CEO lays out ambitious recovery agenda.
Technology: Ixia hopes Hewlett-Packard veteran Bethany Mayer can engineer a turnaround.
Retail: Woodland Hills startup wants to be “Marlboro” of pot.
Retail: Aquarius Cannabis wants to establish a national brand for marijuana.
development: New MGA headquarters to feature live-work.
Development: MGA’s Isaac Larian plans to build a campus headquarters in Chatsworth.
The Valley is in for a good year, as the California economy will grow despite anti-business public policies.
Op-Ed: Despite politicians, California prospers.
Market Watch Summary
Stocks were relatively flat for the four-week period ended Jan. 7, which saw less trading activity due to the holidays and some volatility as oil prices dropped.
Friday, January 9
Two Macy’s stores will close at the Westfield Promenade mall in the spring as part a larger series of closures announced this week by the Cincinnati-based department store chain.
MGA Entertainment Inc. is developing one of the Valley’s most ambitious real estate projects: a 1.2 million-square-foot headquarter's project in Chatsworth featuring live-work apartments.
Aquarius Cannabis Inc. in Woodland Hills wants to become the first national marijuana brand, and last month it took a step toward that goal by filing paperwork to sell its shares publicly.
Ceres Inc. announces sharp yield increases for its genetically modified corn. Glendale REIT Public Storage names chief counsel.
Thursday, January 8
MannKind Corp. announced on Thursday that it has earned $50 million in milestone payments in connection with its licensing agreement with Sanofi for production of the drug Afrezza.
A six-story, 222,000-square-foot Encino office building is changing hands in a deal expected to close in the first quarter.
Warner Bros. names new chief of interactive entertainment. Capstone Turbine receives additional Mexican orders.
Wednesday, January 7
LegalZoom.com Inc. said on Wednesday it was approved to provide legal services with lawyers in the United Kingdom.
A U.S. Food and Drug Administration advisory panel on Wednesday unanimously recommended the agency approve a “biosimilar” version of Amgen Inc.’s cancer drug Neupogen.
Galpin retains title as top Ford dealership, Everbridge makes strategic acquisition.
Tuesday, January 6
An office-and-lab facility on 14 acres near the 5 Freeway that houses Quest Diagnostics has sold for $96 million.
Discount chain 99 Cents Only Stores is paying more than $2.3 million to settle a hazardous waste disposal suit brought by California district and city attorneys.
Health Net Inc. forms accountable care organization. Salem Communications expands new marketing strategy.
Monday, January 5
A former Walt Disney Co. executive was named on Monday as chief executive of KCETLink Media Group, owner of independent public television station KCET.
The producers of two of the most successful film franchises at DreamWorks Animation SKG Inc. have been named as co-presidents of feature animation, replacing the former animation chief at the Glendale studio, which has suffered poor box-office results.
Amgen Inc. announced a new cancer research collaboration on Monday, even as another pharma giant moved toward production of a drug that would compete against the company’s white blood cell treatment Neupogen.
IPC The Hospitalist Co. changes name. Warner Bros. releasing home-entertainment films in new Dolby format.