Stories for June 2015
Tuesday, June 30
Walt Disney Co. on Tuesday named Christine McCarthy as its chief financial officer, replacing James A. “Jay” Rasulo, who is leaving the company after being passed over as a successor to Chief Executive Robert Iger.
Payroll and accounting firm Cast & Crew Entertainment Services has been acquired by a private equity firm with a focus on technology investment.
AeroVironment Inc. posted fiscal fourth quarter results on Tuesday that beat analysts’ estimates. Ixia has expanded its board of directors with the addition of Ilan Daskal as an independent director.
Monday, June 29
The former owner of Ezcor Medical Supply in Valencia was sentenced Monday to eight years for defrauding the Medicare and Medi-Cal programs out of more than $1.9 million.
Walt Disney Co. announced Monday it was combining its lagging Disney Interactive video game division with its highly profitable Disney Consumer Products division amid the conversion of digital technology and games.
A Beverly Hills multifamily investment firm has acquired The Verandas, an upscale 81-unit apartment complex.
Media mogul Michael Eisner is launching a new venture focused on syndicated TV shows.
The network said in a statement Monday it is “ending its business relationship” with the outspoken entrepreneur over his “recent derogatory statements” regarding immigrants.
Disney counting on new Star Wars figures to improve sales.
Disney leverages its “Star Wars” movies to revive its video game division.
Public firm tries to sustain business from home rentals
Wall Street loves American Homes 4 Rent, despite a record of losses.
Technology developed by Glendale company employed in crises.
If you need mass communication during a disaster, call Everbridge Inc.
M&A: Ryland, Kythera acquired by OC rivals within days of each other.
Two publicly traded companies in Westlake Village strike deals.
STOCKS: Local publicly traded companies navigate recovery.
The largest public companies in the Valley find ways to grow their market capitalization.
MANUFACTURING: Talon stakes more on fabric technology than its core fasteners business.
Can a new stretchy fabric turn around Talon International?
Farmers Insurance makes Fortune 500 despite no public stock.
It’s not a public company, but Farmers Insurance has a place on the Fortune 500.
West Point grad Todd Stevens is the CEO of the Valley’s newest public company – California Resources Corp. – and he’s looking for oil.
West Point graduate Todd Stevens assumes the leadership of California Resources Corp.
News and notes from the greater San Fernando Valley
Marvin Jay Caukin, 66, was sentenced to 11 years in prison for embezzling more than $10 million from Gulfstream Aerospace Corp. in Long Beach.
RESIDENTIAL: Habitat for Humanity sponsors unusual Santa Clarita tract.
Finishing touches are being added over the next few weeks to an innovative Santa Clarita subdivision that will provide housing and support services to 78 low-income veterans and their families.
MARKETING: Valencia attorney hired for faraway case using new technology.
On June 3, attorney Gregory Owen held a press conference in Huntington Park to announce that children who attended a police-sponsored youth boot camp were physically and verbally abused during their week stay at the camp in May.
FUNDRAISING: MobileCause in Calabasas offers groups social and mobile access.
Most non-profits have two goals – to serve their communities and to raise enough money to stay afloat.
REAL ESTATE: Marcus & Millichap has seen stock rise fourfold since listing.
Apartment brokerage Marcus & Millichap went public just as the multifamily sector got hot.
ENTERTAINMENT: Worries over movie flops give way to small-screen optimism.
DreamWorks Animation shrinks its film slate, but TV work picks up.
ELECTRONICS: Electro Rent replaces work lost after large contract expires.
Electro Rent rebounds after losing a major contract.
Friday, June 26
Warner Bros. Pictures became the first Hollywood studio in history to reach $1 billion in domestic box office for 15 straight years, the company announced Friday.
Walt Disney Co. is proposing a $1 billion expansion at its Disneyland theme park in Anaheim that would include new attractions, parking and other infrastructure improvements.
In the economic recovery’s sixth year, the investment adage that “a rising tide lifts all boats” no longer applies.
DreamWorks Animation SKG Inc. has been the corporate equivalent of a basket case over the last few years, but surprisingly the stock has bounced back.
Thursday, June 25
Second Sight Medical Products Inc. has appointed Will McGuire to become the company’s new chief executive.
A 10.5-acre parcel in Calabasas long used by a nursery has been sold and will be developed as a car dealership.
The Ventura County cities of Camarillo, Oxnard and Ventura each approved the renewal of the Tourism Business Improvement District Thursday, and will welcome Port Hueneme as the newest member.
Wednesday, June 24
A Los Angeles City Council committee recommended on Tuesday giving exemptions from the city’s new minimum wage ordinance to certain non-profit organizations.
A committee of the San Fernando Valley Council of Governments has given its support to three public transit projects proposed by a coalition of business, political and community leaders.
A Tokyo-based construction company has purchased Vista Modern, a four-story, 34-unit apartment complex in Sherman Oaks, for $16.5 million.
Tuesday, June 23
Anheuser-Busch is investing $20 million at its Van Nuys brewery to improve water efficiency in the filtering, brewing and packaging operations.
A Calabasas man was sentenced Monday to 11 years in prison for embezzling more than $10 million from Gulfstream Aerospace Corp. in Long Beach.
DreamWorks Animation’s AwesomenessTV online teen network has created a feature film division and picked a veteran entertainment industry executive to run it.
Monday, June 22
Health insurer Anthem Inc. on Monday stood by its offer to buy rival Cigna for $47 billion.
It's turning into a banner year for Universal Pictures as its “Jurassic World” blockbuster topped the box office for the second straight weekend with a take of $102 million - its fourth hit flick this year.
Tutor Perini Corp. announced on Monday that it has won a $239 million contract to build a 755-room, dual-flagged W and Element hotel project.
Friday, June 19
Walt Disney Co. has leased 110,000 square feet at Burbank’s Buena Vista Plaza in an 11-year deal valued at $51.5 million, according to a source familiar with the transaction.
L.A. County’s unemployment rate was unchanged in May at 7.6 percent amid modest job gains that left the county just short of its all-time payroll peak, state figures released Friday show.
Thursday, June 18
Cynvenio Biosystems Inc. has secured $25.5 million in Series B financing to commercialize its LiquidBiopsy technology.
A subsidiary of Tutor Perini Corp. has won a construction management contract for a confidential research facility in California.
Teledyne recruits new board member, Seven Lakes Chief Executive Shiva Rajagopalan wins Entrepreneur of the Year award.
Wednesday, June 17
Kythera Biopharmaceuticals, Inc. will be acquired by Allergan plc in a $2.1 billion buyout announced Wednesday.
A real estate developer is proposing a 118-home equestrian community in the northwest San Fernando Valley to be called Hidden Creeks Estates and Preserve.
Tuesday, June 16
Billionaire investor Kirk Kerkorian, once ranked as the richest man in Los Angeles, has died.
Housing coming to site of former Boeing fitness center
Former Boeing fitness center gets OK to become 90-home subdivision.
The Burbank Bob Hope Airport officially put on the market Tuesday a 59-acre parcel of adjacent land for commercial and office development.
Software developer ServiceTitan secures $18 million in funding, while IPC Healthcare acquires a doctors group in North Carolina.
Monday, June 15
Westlake Village home builder Ryland Group Inc. will merge with Irvine-based home builder Standard Pacific Corp., forming the country’s fourth-largest residential U.S. home developer.
Dinosaurs ruled the weekend box office with “Jurassic World” from NBCUniversal Inc. bringing in more than $209 million to make it the highest-grossing domestic opening weekend ever.
Capstone Turbine misses analyst expectations, while Ixia hires a new chief marketing officer.
Does Gov. Jerry Brown know something that the majority of economists don’t?
HOSPITALITY: PNK Group building second Ventura Boulevard boutique.
Sagar Kumar wants to build a new hotel – right next to the one he already owns.
VEDC plans to leverage a grant into a national $20 million microlending program.
Startup offers brands real-time monitoring of social media.
Bottlenose, a media monitoring startup, lands $13.5 million in venture capital.
Health Net, Amgen make list of corporate names with sizzle.
From Amgen to Warner Bros., billion-dollar brands abound in the Valley.
Chatsworth apparel maker introduces antimicrobial scrubs.
Antimicrobial uniforms could solve a growing problem in health care.
RETAIL: Forget the Kardashians. Daughters of fashion icon Fred Segal open local boutique.
Fred Segal’s daughters open a boutique in Westlake Village, with a little help from Rick Caruso.
KB Home’s multifamily project stumbles in Chatsworth.
REAL ESTATE: Bang buys Palmdale building vacated by defunct Senior Systems.
Bang Printing in Santa Clarita buys a long-vacant building in Palmdale.
RESTAURANTS: With first Dunkin’ Donuts in Valley open, two more coming.
Now that the San Fernando Valley’s first Dunkin’ Donuts is open for business in Encino, Aharon Aminpour is eager to lay down some frosting on more of the fried confections.
LEASING: Nearon shows off upgraded Thousand Oaks building to eager brokers.
There was a coming-out of sorts in Thousand Oaks last month, as 35 brokers gathered to glimpse the transformation of a dated former automobile headquarters that its landlord hopes to position as a landmark Conejo Valley office property.
News and notes from the greater San Fernando Valley
Amgen Inc. will end a partnership to develop a drug for psoriasis because it could face restrictive labeling over concerns that it might lead to suicidal thoughts.
FILM: Burbank’s BRC produces animated short for Expo Milan.
The latest short film from BRC Imagination Arts cannot be seen by U.S. audiences.
AEROSPACE: NASA program boosts Rocketdyne plant in Chatsworth.
A new NASA contract could heat up Rocketdyne’s engine factory in the Valley.
Friday, June 12
The Aerojet Rocketdyne Holdings Inc. campus in Chatsworth is about to get a huge boost from NASA’s planned multibillion-dollar mission to send a man to Mars.
The Boeing Fitness Center in West Hills is slated to become a 90-home subdivision.
A Minnesota investment company has purchased an Orchard Supply Hardware in Thousand Oaks for about $354 a square foot, a record price for such a property in Ventura County, according to the brokerage that handled the transaction.
Cherokee Global Brands announced first-quarter net income higher than expectations, causing shares to rise more than 10 percent on Friday.
Thursday, June 11
H.J. Heinz Co. is shutting down its condiments and sauces plant in Chatsworth and laying off 145 employees.
Private equity firm Ares Management is close to acquiring Century City money shop Kayne Anderson Capital Advisors. West L.A. accounting firm RBZ will join Armanino of San Ramon, the largest accounting and consulting firm based in California by revenue.
Wednesday, June 10
Walt Disney Co. may take up to a $140 million write down on its latest live-action release “Tomorrowland,” according to media reports on Wednesday.
Upscale theater chain Sundance Cinemas, founded by movie legend Robert Redford eight years ago, is putting itself up for sale.
A regulatory advisory panel on Wednesday recommended approval for Repatha, a new cholesterol drug from Amgen Inc., although use should be limited to patients with high risk of heart disease.
DreamWorks breaks ground on China center, City Council approve wage increase.
Tuesday, June 9
Two industrial buildings in Chatsworth have sold for a combined $29.8 million to a San Francisco real estate investment trust.
The estate of a deceased engineer who worked at the predecessor company to Northrop Grumman Corp. has donated $2.3 million to California Lutheran University to fund programs in science, education and religion.
IPC Healthcare signs a strategic alliance to reduce Medicare costs, while United Online elects a new board member.
Monday, June 8
Staffing firm On Assignment Inc. has closed its acquisition of Creative Circle LLC, a digital market and advertising staffing company, in a deal valued at $570 million.
Health regulators have decided a new drug from Amgen Inc. reduces “bad” cholesterol, but they aren’t sure it’s for everyone.
Friday, June 5
A Florida senator has called for on an investigation into potential misuses of a controversial visa program used by Walt Disney Co. and other companies that employ immigrants to fill engineering and tech positions.
Shares of DreamWorks Animation SKG Inc. hit a 15-month high on Friday in response to an analyst upgrade.
Teledyne Technologies acquires Belgian company. Interlink Electronics names chief financial officer. Antelope Valley Healthcare District elects chairman.
Thursday, June 4
Three high-profile Burbank buildings, with tenants that include Cartoon Network, Turner Broadcasting and MTV Networks, have been acquired by a Dallas real estate investment group that plans to reconfigure them into a walkable campus.
An analysis released Wednesday of the Palmdale-to-Burbank section of the state’s high-speed rail project recommends that routes requiring tunneling beneath the San Gabriel Mountain should remain in consideration.
LegalZoom.com Inc. has sued the North Carolina State Bar, accusing the body of violating federal antitrust laws by trying to prevent the company from selling its legal services plans in the state.
Good news for baseball fans and Charter cable customers: Los Angeles Dodgers channel SportsNet LA will start airing on Charter Tuesday, marking the first time in more than a year anyone other than Time Warner Cable customers will be able to regularly watch games.
Spectrolab names president. Capstone Turbine reports large order from oil-and-gas producers.
Wednesday, June 3
A Santa Clarita supplier of processing and molding equipment and its chief executive face legal action for allegedly using employee retirement money to prop up the company, the government said Wednesday.
A North Hollywood classical theater company plans to transform a long-vacant downtown Glendale storefront into a new cultural arts center, boosting the city’s efforts to create a burgeoning entertainment arts district.
L.A.’s minimum wage hike got one step closer Wednesday, but will need yet another approval from the City Council before going to Mayor Eric Garcetti.
Gordon Marshall, the founder of electronics giant Marshall Industries and a University of Southern California trustee for whom the institution’s business school was named, died Tuesday in Pasadena at the age of 95.
Tuesday, June 2
Passenger traffic at Burbank Bob Hope Airport rose again in April and further improvements are likely as airlines add service at the San Fernando Valley’s only commercial airfield.
A Tarzana real estate investment firm purchased Rockwood at the Cascades, an upscale 223-unit apartment complex.
"American Horror Story" is coming back to Los Angeles to take advantage of the state’s beefed-up tax credits for films and TV shows – and comedy hit "Veep" is moving west, too.
Customs service for international travelers has returned to Van Nuys Airport after a nine-year absence. Signature Group Holdings shareholders approved the company’s name change to Real Industry Inc.
Monday, June 1
James A. “Jay” Rasulo, chief financial officer at Walt Disney Co., is stepping down June 30 in a move that has been expected since February when Chief Executive Bob Iger passed him over as heir apparent.
Children’s Hospital Los Angeles opened its first outpatient clinic in the San Fernando Valley on Monday.
IPC Healthcare Inc. has appointed Dr. Ron Greeno to the newly created position of chief strategy officer.
News and notes from the greater San Fernando Valley
The European Medicines Agency’s Committee for Medicinal Products for Human Use issued a “positive opinion” to allow Amgen Inc. to market Repatha for patients who don’t respond or have intolerance to other cholesterol drugs.
MULTIFAMILY: Owners group exploring legislation, grants for submetering units.
Nearly half of all Californians live in multifamily housing, but fewer than 20 percent of them ever see a water bill.
Tom DiPrima has led KB Home’s timely strategy to build Southern California homes that use little energy and water.
Homebuilder Tom DiPrima likes drought-resistant plants and low-flow faucets.
FUNDRAISING: Exotic prizes help draw $103,000 for international charity.
ICON’s headquarters in Chatsworth resembled more of a set from a 1930s film on May 2 than the workshop of an automotive company that builds custom cars with a classic feel.
MARKETING: Firm behind Kybella to hold off on consumer ads for now.
Kythera Biopharmaceuticals Inc. has one of the hottest new biotech drugs around: an injectable that has been shown to markedly reduce skin fat.
The Salazar family has switched from mow-and-blow to desert gardening.
The Rausdeen family has moved from irrigation gear to water tanks.
Fears of a backyard moratorium have pumped new life into Fletcher Pools.
REAL ESTATE: Anthem replaces 13-acre lawn at office complex with drought-tolerant plants.
Mulch, not lawn, will save Anthem 12 million gallons of water a year.
Reverse osmosis system doesn’t require pricey visit from the plumber.
Peter Spiegel wants to put reverse osmosis on your countertop.
Audio surveillance system said to detect anger prior to violence.
Louroe Electronics has a device to detect voice aggression.
Why mow and blow? New drought service sprays color on thick.
Green dye covers up brown grass at Lawn Paint Pros.
Businesses struggle, thrive amid drought
A four-year dry spell has produced winners and losers among Valley businesses.
Ventura County farmers grapple with dwindling groundwater supplies.
EMPLOYMENT: L.A. neighbors not seizing on raised minimum.
As L.A.’s minimum wage hike looms, surrounding cities downplay their advantage.
DEVELOPMENT: Parking woes hit Sportsmen’s Lodge project.
A landowner and a developer bicker over parking spots at Sportsmen’s Lodge.
If we want to sustain our paradise in Southern California, we must employ all our technological skills.
End of the Mulholland legacy.