Stories for July 2019

Wednesday, July 31

Capstone Recycling Effort Paying Off, Company Says

Capstone Turbine Corp. has saved about $15 million since starting its extensive parts remanufacturing program four years ago, it announced Tuesday.

Tejon Ranch Rings Bell at NYSE

Representatives of Tejon Ranch Co. rang the closing bell at the New York Stock Exchange on Tuesday.

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MannKind to Test Afrezza in Children

MannKind Corp. on Wednesday announced it is enrolling children ages 4 to 7 in an Afrezza safety study. Afrezza is an inhalable insulin powder used to treat diabetes in adults.

Dine Brands Earnings Miss Mark

Shares of Dine Brands Global Inc. fell more than 5 percent Wednesday after the company reported earnings and revenue that missed estimates.

Amgen Stock Jumps on Cancer Drug Report

Amgen Inc. stock surged almost 6 percent Wednesday, the first day of trading after the company surprised investors during its second-quarter earnings report late Tuesday.

Tuesday, July 30

Public Storage Appoints Google Executive to Board

Public Storage has named Tariq Shaukat as its newest board trustee, according to a statement from the Glendale real estate investment trust.

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Hospital Signs Lease at Tarzana Medical Atrium

Providence Tarzana Medical Center has signed a 10-year lease for one-third of the space at the nearby Tarzana Medical Atrium.

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Northrop Grumman's Valley Operation Secures $167 Million Contract

Northrop Grumman Corp. has received a $167 million contract from the U.S. Navy to produce Lot 8 of its advanced anti-radiation guided missile system.

Monday, July 29

Valley Trucking School Owner Pleads Guilty to $4.2 Million Fraud

The owner of a Chatsworth trucking school pleaded guilty Monday to federal fraud charges for bilking the Department of Veterans Affairs out of more than $4 million.

For Property Value Growth, Santa Clarita Ranks No. 3 in County

The city of Santa Clarita ranks third in Los Angeles County for growth in real estate and business property values, according to the 2019 tax assessment roll released by the Los Angeles County Assessor’s office.

Study to Examine Feasibility of Griffith Park Aerial Tram

With multiple plans from private firms for aerial trams in or near Griffith Park, a city agency has commissioned a study to explore a tram line’s feasibility and possible routes.

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UltraViolet Streaming Service to Shut Down

The UltraViolet streaming service for digitally purchased films and television shows will shut down.

Friday, July 26

Sun Valley Manufacturer to Lay Off More Than 100

AVX Corp. is laying off more than 100 employees from its Sun Valley plant starting later this year.

$35 Million Deal for 33-Acre Estate Sets Conejo Valley Record for Home Sale

Former Legendary Pictures chief executive Thomas Tull and his wife Alba have sold their 33-acre estate in Thousand Oaks for $35 million, setting records for a home price in the Conejo Valley and all of Ventura County.

Gaspar Insurance Acquires Elden

Gaspar Insurance Services announced Thursday it has acquired Elden Insurance for an undisclosed amount.

Retail Portion of Burbank Complex Sells for $27 Million

Brentwood-based GPI Cos. has sold the retail portion of the Burbank Collection, a mixed-use development in Burbank.

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Thursday, July 25

Amgen Lobbyists Meet With Trump on Medicare Bill

Representatives of Amgen Inc. and Pfizer Inc. attended a lobbying group meeting with President Donald Trump on Thursday.

H2Scan Hires Local Marketer as Chief Growth Officer

Hydrogen sensor developer H2Scan has named Bharat Vats as its new chief growth officer.

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$32 Million Land Parcel in Mission Hills Bought by Cemetery Operator

A 28-acre plot of land at 11630 Indian Hills Road has sold for $32 million, according to Colorado-based brokerage IREA.

Glendale Office Building to Become Residential Condos

Pasadena development firm Adept will begin work by the end of this year to convert a 1980s office building in Glendale into condominiums.

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Wednesday, July 24

Asgn’s Quarterly Report Features ‘CEO Transition Expenses’

Asgn Inc. fell a penny shy of analyst expectations for earnings and met them on revenue during the second quarter, a period which included the transition to a new chief executive.

29-Unit Apartment Complex in Glendale Sold for $7.9 Million

Lexington Apartments, a 29-unit community at 1111 E. Lexington Drive in Glendale, has sold for $7.9 million, or $272,414 per unit.

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Teledyne Shares Gain on Strong Second Quarter

Teledyne Technologies Inc. beat Wall Street estimates on revenue and earnings in the second quarter, sending shares 6 percent higher.

NetSol Signs First U.K. Customer for Ascent Platform

NetSol Technologies Inc. has signed a contract valued at about $4 million with an independent used vehicle finance company in the United Kingdom to use its software.

Tuesday, July 23

Avery Dennison Moves Higher on Q2 Results

Avery Dennison Corp. beat Wall Street estimates on earnings, sending the company’s stock up more than 4 percent.

New Label Could Broaden Medtronic’s Insulin Pump Market

Medtronic, a medical technology company headquartered in Dublin, Ireland with its diabetic care division in Northridge, has filed an application with the Food and Drug Administration, seeking approval to change the labeling for its MiniMed insulin pump system.

CRC Forms Joint Venture to Fund Elk Hills Field

California Resources Corp. has formed a joint venture with L.A.-based investment firm Colony Capital Inc. to fund further development of CRC’s Elk Hills oil field in Kern County.

Warner Center Stadium Goes Forward With 7,500 Seats

zoning administrator has signed off on an early step toward the establishment of a sports and entertainment stadium in Woodland Hills on 34 acres of the Westfield Promenade mall.

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REIT Sells Burbank Hotel for $72.9 Million

Pebblebrook Hotel Trust has sold the Hotel Amarano Burbank for $72.9 million, after purchasing the property last winter for less than $500,000.

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Monday, July 22

Free Speech Coalition Executive Director Steps Down

Eric Paul Leue is stepping down as the executive director of the Free Speech Coalition, the trade group for the adult industry.

Valley Home, Condo Prices Hit Record Highs

Median prices of homes and condominiums in the San Fernando Valley that closed escrow during June hit record highs even as sales slowed due to limited inventory.

Developer Plans 56 Affordable Apartments for Sylmar

A developer has proposed 56 new apartments to be built on a vacant lot in Sylmar at 12663-12667 N. San Fernando Road.

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Judge Blocks Rule on Drug Prices in TV Ads

Big pharma wins legal action against federal government.

Big pharma wins legal action against federal government.

A Last Orchard

DEVELOPMENT: A vestige of the Valley’s agricultural past — one of the last orange groves — is for sale.

DEVELOPMENT: A vestige of the Valley’s agricultural past — one of the last orange groves — is for sale.

Carlos Amezcua On Screen With ‘Carlos & Lisa’

Startup Beond.TV combines broadcast and digital distribution.

Startup Beond.TV combines broadcast and digital distribution.

Warner Bros. Library to Fuel New HBO Max

Family-oriented streaming service to feature ‘Friends’ sitcom.

Family-oriented streaming service to feature ‘Friends’ sitcom.

NoHo Nonprofit Radio Station Seeks Cash Flow

Broadcaster look to member drives rather than fund drives.

Broadcaster look to member drives rather than fund drives.

Poole & Shaffery Opens Office in Ventura County

Oxnard location provides access to new potential customer base.

Oxnard location provides access to new potential customer base.

Valley President For County Bar

Ronald Brot to lead 15,000-plus member organization.

Ronald Brot to lead 15,000-plus member organization.

Bar Association Readies for Election Day

In September, the organization will choose trustees from 11 candidates.

In September, the organization will choose trustees from 11 candidates.

Groundbreaking: Calabasas Hotel

Developer starts construction on Cambria-branded location.

Developer starts construction on Cambria-branded location.

Builder Garners Award for Center at City College

Lundgren Management recognized for on-campus project.

Lundgren Management recognized for on-campus project.

Two Buildings in Agoura Campus Prove Profitable

Dual transactions yield Majestic a gain of $7 million in three years.

Dual transactions yield Majestic a gain of $7 million in three years.

Big-Small Divide for Public Companies

SPECIAL REPORT: PUBLIC COMPANIES

Public Companies Industry consolidation impacts priorities.

Around The Valleys

News and notes from the greater San Fernando Valley

News and notes from the greater San Fernando Valley

Here’s a Deceptively Simple Issue

Work scheduling is complex issue.

‘Most Influential’ Say: Take a Hike

One More Thing

Leaders like open space.

Complaints Accompany VEDC Chapter 11 Filing

FINANCE: Legal actions look at nonprofit’s loans and grants.

FINANCE: Legal actions look at nonprofit’s loans and grants.

$78 Million ER Breaks Ground

HOSPITALS: St. Joseph taps Burbank studios for donations.

HOSPITALS: St. Joseph taps Burbank studios for donations.

VALLEY INSIDER

Canines Help Sell Cars in Valencia

Canines Help Sell Cars in Valencia

Underwood Farms Wins Hot Dispute

Court awards $23 million in legal battle over Sriracha peppers.

Court awards $23 million in legal battle over Sriracha peppers.

CSUN Tax Help Boosts Economy

Program delivers $14.8 million to Valley residents.

Program delivers $14.8 million to Valley residents.

Scale-Up Consultant

MANAGEMENT: Jonathan Goldhill helps mid-size companies expand intelligently.

MANAGEMENT: Jonathan Goldhill helps mid-size companies expand intelligently.

A Bride’s Buying Style

RETAIL: Borderline shooting survivor’s shop is inspired by ‘Say Yes to the Dress.’

RETAIL: Borderline shooting survivor’s shop is inspired by ‘Say Yes to the Dress.’

Clock Ticking as Tix Shareholders Vote on Board

ENTERTAINMENT: Investor wants slate of marketers.

ENTERTAINMENT: Investor wants slate of marketers.

Financial Refresh

CAREER: Startup aims to change payment processing and give opportunity to women re-entering the workforce.

CAREER: Startup aims to change payment processing and give opportunity to women re-entering the workforce.

Friday, July 19

Preview: Complaints Accompany VEDC Chapter 11 Filing

Legal actions look to nonprofit's loans and grants.

Preview: Valley's Last Orange Grove?

One of the San Fernando Valley’s last orange orchards is for sale with plans for development.

Pacoima Credit Union to Merge With Gain Federal in Burbank

Pacoima Development Federal Credit Union has announced it will merge with Gain Federal Credit Union, based in Burbank, effective July 29.

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Public Storage Acquires Georgia Facilities

Public Storage has acquired two new locations in Augusta, Ga.

Amgen, Allergan Launch Cancer Biosimilars in U.S. Market

Thousand Oaks-based Amgen Inc. and Allergan plc, headquartered in Dublin, Ireland, on Friday announced two biosimilar drugs for cancer treatment which the companies co-developed are now for sale in the United States.

Thursday, July 18

Northridge Apartment Complex Near Campus Sells for $7 Million

Cambridge Courtyards, a 28-unit apartment complex at 17931 Devonshire St. in Northridge, has sold for $7 million.

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On-Location Filming Declines in Second Quarter

On-location filming of movies, television series and commercials was down in the second quarter.

Thousand Oaks Data Firm Acquires Marketing Agency

Thousand Oaks data firm Giant Partners has acquired marketing agency Worxstudio to move into the data-driven digital marketing business.

Wednesday, July 17

Refrigerant Company Expands to India

Alltemp Inc., a refrigerant manufacturer in Westlake Village, has expanded to India, according to a statement from the company on Wednesday.

Biotech Company Purchases ImmunoCellular for $1 Million

ImmunoCellular Therapeutics Ltd. has announced a purchase agreement with a privately held biotech company, according to a statement from the Calabasas company on Tuesday.

Affordable Apartments Proposed for Panorama City

The North Valley Area Planning Commission on Thursday will consider plans from Irvine’s Domus Development to construct a 49-unit affordable housing project in Panorama City, according to an Urbanize.LA report.

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Tuesday, July 16

Canoga Park Police Carnival Canceled After Businesses Complain

A swiftly canceled Los Angeles Police Department street carnival, originally slated to unfurl this week on Sherman Way from Topanga Canyon to Canoga Avenue, put members of the business community along the route on edge.

Firms Partner to Develop Thousand Oaks Senior Living Facility

Canyon Partners Real Estate LLC has provided $10.9 million of preferred equity to Griffin Living to finance the construction of an 86-unit senior living facility in Thousand Oaks.

Capstone Makes Sale in Kazakhstan

An oil and gas producer in western Kazakhstan ordered its first microturbine from Capstone Turbine Corp. for use in a gas-to-energy project.

Simulations Plus to Test Veterinary Medicines for FDA

Simulations Plus Inc. has entered into a five-year research collaboration agreement with the U.S. Food and Drug Administration’s Center for Veterinary Medicine to test drug efficacy in animals.

Monday, July 15

New Law Requires SoCal Edison Customers to Pay Billions into Wildfire Fund

A bill signed into law July 12 by Gov. Gavin Newsom will require Southern California Edison customers to pay more than $3 billion toward a wildfire fund.

Newbury Park Developer Gets Approval for Old Town Camarillo Apartments

The Camarillo Planning Commission has approved Lustra Development LLC’s proposed pair of two-story apartment buildings to be erected on an Old Town Camarillo parking lot.

Calabasas Hotel Breaks Ground

Ground has officially broken on the building of Cambria Hotel Calabasas – Malibu, a three-story, 125-room upscale hotel off the 101 freeway at near Agoura Road.

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MannKind Partners with GoodRx App

MannKind Corp. in Westlake Village has partnered with Santa Monica’s GoodRx, an app that allows people to see the best prices for drugs.

Friday, July 12

Fintech Firm ZestFinance Partners With Brazilian Retailer

Burbank fintech firm ZestFinance has partnered with Via Varejo, a Brazilian consumer electronics retailer.

NoHo Postal Facility Site Trades for $6.6 Million

An industrial property at 7025-7037 Laurel Canyon Blvd. in North Hollywood has traded for $6.6 million.

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Canoga Park Senior Facility Cuts Ribbon

Canyon Trails Senior Living and Memory Care hosted a ribbon-cutting ceremony to celebrate its recent membership with the West Valley-Warner Center Chamber of Commerce and completion of a major renovation.

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Encino Law Firm Changes Name

Encino’s Tisser and Standing LLP has changed its name to Tisser Law Group to better reflect personnel changes.

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Thursday, July 11

Meeting Scheduled on VEDC’s Chapter 11 Status

A court order has set a date for the first status conference in the Valley Economic Development Center’s Chapter 11 restructuring case.

Amgen Alzheimer Program Scrapped

A collaborative research program with Alzheimer’s patients involving Thousand Oaks-based Amgen Inc., Swiss drug maker Novartis and Banner Alzheimer’s Institute in Arizona is discontinued.

18-Unit Glendale Multifamily Sold for $6 Million

A two-property townhome complex totaling 18 units has sold for $5.95 million, or $330,556 per unit, to an unidentified local buyer, according to brokerage CBRE Group Inc.

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Semtech System Finds Market in Chinese Water Meters

Semtech Corp. announced Thursday that a Chinese water company has used its long-range, low-power technology in its smart water metering products.

Wednesday, July 10

VEDC Continues Operating After Court Approval

In a court hearing Wednesday, Central District of California Judge Deborah Saltzman approved several emergency “first day” motions that will keep the Valley Economic Development Center operating after its Chapter 11 bankruptcy filing last week.

Warner Center Senior Living Complex Approved

Dallas-based developer South Bay Partners has received approvals from the city of Los Angeles to create a senior living facility in Warner Center.

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US Nuclear to Sell Underwater Robots

US Nuclear Corp. has signed an agreement with Qysea Technology Co. Ltd. to build, market and sell its industrial underwater robot sensor systems.

Advanced Bionics Launches Cochlear Implant Monitor

Valencia’s Advanced Bionics unveiled its latest product, the AIM system, at a cochlear implant symposium in Florida.

Saalex Becomes Employee-Owned Company

Saalex Corp. has announced that the company is now owned by its employees through an employee stock ownership plan.

Tuesday, July 9

Court Sides With Amgen, Drug Makers to Block TV Ad Rule

U.S. District Judge Amit Mehta has blocked temporarily a Trump administration rule requiring drug makers to put a drug’s list price in television ads pending resolution of a lawsuit on the policy.

Logix Credit Union Opens Tarzana Branch

Logix Federal Credit Union has opened a new full-service branch at 18700 Ventura Blvd. in Tarzana.

Virgin Galactic Merger Forms First Public Space Tourism Company

Virgin Galactic is merging with public investment firm Social Capital Hedosophia to form the first publicly traded commercial space tourism company

Valley Attorney Chosen as President of L.A. County Bar Association

Ronald Brot, founder and senior partner of family law firm Brot Gross & Fishbein LLP in Sherman Oaks, has been appointed president of the Los Angeles County Bar Association.

Majestic Sells Last Buildings at Agoura Tech Campus for $17.7 Million

Majestic Asset Management Inc. in Van Nuys, which two years ago purchased Tech Park @ Canwood, has sold the remaining two of four buildings at the Agoura Hills creative flex campus for $17.7 million.

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Monday, July 8

22 Graduate From Entrepreneurial Training Program

Operation HOPE’s Entrepreneurial Training Program graduated 22 participants late last month at a ceremony at the Valley Economic Alliance office in Sherman Oaks.

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Law Firm Relocates to Encino From Century City

The Abir Cohen Treyzon and Salo Law Firm has moved its offices from Century City to Encino, the firm said on Monday.

Burbank’s Insomniac Games Expands Presence

Burbank-based Insomniac Games will expand its headquarters by another 11,437 square feet at the Media Studios complex.

Development Firm Buys Sherman Oaks Land Parcel for $58 Million

IMT Capital has purchased 5 acres of Sherman Oaks land for $58 million, according to CoStar data.

Supermarket Union Workers OK Strike

Contract negotiations set to resume later this month.

Contract negotiations set to resume later this month.

Talaria Project Takes Home Gold Nugget

Cusumano’s upscale apartment complex wins statewide award.

Cusumano’s upscale apartment complex wins statewide award.

Orange Colors the Valley With Projects

Studio has designs for Warner Center, NoHo, Woodland Hills.

Studio has designs for Warner Center, NoHo, Woodland Hills.

Tales of Tarzan and the Legacy of Tarzana

Museum of the Valley celebrates the centennial of Burroughs’ ranch.

Museum of the Valley celebrates the centennial of Burroughs’ ranch.

#31 Jenny Paige

Special Report: WOMEN-OWNED BUSINESSES

Media Well Done Valencia

#30 JANE SKEETER

Special Report: WOMEN-OWNED BUSINESSES

UltraGlas Inc. Chatsworth

#17 Gail Becker

Special Report: WOMEN-OWNED BUSINESSES

Caulipower Encino

#14 Karen Boyle, Kathleen Durbin & Joan Hoppock

Special Report: WOMEN-OWNED BUSINESSES

General Industrial Tool & Supply Burbank

women AT WOrk

Special Report: WOMEN-OWNED BUSINESSES

Female entrepreneurs in the Valley are exploring new industries such as manufacturing, aerospace, global trade and technology.

Magnificent Seven

VICA Business Hall of Fame 2019 honors inductees, each representing one decade in VICA’s 70 years.

VICA Business Hall of Fame 2019 honors inductees, each representing one decade in VICA’s 70 years.

Around The Valleys

News and notes from the greater San Fernando Valley

News and notes from the greater San Fernando Valley

Around The Valleys

News and notes from the greater San Fernando Valley

News and notes from the greater San Fernando Valley

Yay for Modern ‘Telephone Booth’

Modern phone booths make sense.

Bullying Businesses Hurts Schools

Education Bullying businesses hurts schools.

Education Bullying businesses hurts schools.

Pharma Fights Rule for Price Disclosure in Ads

BIOTECH: Amgen joins coalition in legal action.

BIOTECH: Amgen joins coalition in legal action.

Local Focus Works for Daly

DEVELOPMENT: Firm finds formula for Ventura County.

DEVELOPMENT: Firm finds formula for Ventura County.

Car Promoter Hits Road to National Parks

VALLEY INSIDER

Travel Auto marketer visits national parks.

Analyst Examines Divorce Finances

Certified planner helps clients organize after life transition.

Certified planner helps clients organize after life transition.

Business Journal Wins Press Awards

National, local organizations honor quality design and journalism.

The San Fernando Valley Business Journal has won national and local accolades for its editorial and design quality.

Mobile Privacy

TECHNOLOGY: Cubicall makes phone booths without the phones for open-office employees seeking quiet.

Privacy Cubicall’s phone booths for offices.

ASGN Chief Terminated Amid College Inquiry

MANAGEMENT: Analyst sees smooth change to new leadership at staffing firm.

Law College scandal prompts CEO’s exit.

River Cruise Redux

TRAVEL: AmaWaterways’ new AmaMagna is the largest passenger ship to sail on European rivers.

River AmaWaterways launches new ship

For Ag Software Firm, Glendale’s Attractive

PickTrace relocates from NoCal to follow ServiceTitan model.

PickTrace relocates from NoCal to follow ServiceTitan model.

Lab to Deliver Custom Scans For Refineries

H2Scan builds facility next to Valencia headquarters.

H2Scan builds facility next to Valencia headquarters.

SBA Recognizes Saalex With Prime Award

Camarillo tech operation serves Ventura County Navy bases.

Camarillo tech operation serves Ventura County Navy bases.

Cherokee Global Changes Name to Apex

Rebrand reflects expansion of company’s brand portfolio.

Rebrand reflects expansion of company’s brand portfolio.

Prime Pizza Fills Taste Chicago Vacancy

Catering for creative workers key to location’s strategy.

Catering for creative workers key to location’s strategy.

Ferrara Candy to Close Office in Glendale

Decision adds vacancy to former Nestle home.

Decision adds vacancy to former Nestle home.

Tech Startup Targets Health Providers

Doc2Doc Connect links doctors to equipment and office space.

Doc2Doc Connect links doctors to equipment and office space.

Fitness Court Comes to Palmdale

City officials and hospital leaders gather at park for opening.

City officials and hospital leaders gather at park for opening.

BioScience Alliance Hosts VC Firm

Westlake Village BioPartners seeks to become regional catalyst.

Westlake Village BioPartners seeks to become regional catalyst.

CommonSpirit Health Forms New Division

Leadership named for system after restructuring.

Leadership named for system after restructuring.

Friday, July 5

TVEA Assists Laid Off VEDC Staff

The Valley Economic Alliance is swooping in to assist displaced employees of the Valley Economic Development Center, which filed for Chapter 11 protection on Tuesday.

Valley Area Evades Much Earthquake Damage

The Valley area apparently escaped with no significant damage from the 6.4 magnitude earthquake that struck near Ridgecrest Thursday morning.

Developer to Build Small-lot Homes in NoHo

Land Use Developers Corp. has filed a small-lot subdivision plan for North Hollywood with the Los Angeles Planning Department, according to an Urbanize.LA report.

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Wednesday, July 3

Auto Repair Chain Buys Moorpark Warehouse for $10 Million

A local tire shop chain has bought a nearly 70,000-square-foot industrial building in Moorpark for $10.2 million.

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Investor Proposes Board Makeover for Tix Corp.

An activist investor in Tix Corp. has put up a slate of nominees for election to the board of directors.

Hilton Foundation Names Strategic Partnership Director

The Conrad N. Hilton Foundation in Westlake Village has named Shaheen Kassim-Lakha as its director of strategic partnerships.

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Tuesday, July 2

Lancaster BIDs Split Leadership

Destination Lancaster and the BLVD Association, business improvement districts in Lancaster, have welcomed Sandy Smith and Erika Figueroa, respectively, as newly appointed executive directors.

Cigar Firm Gets a Win in Smoldering Fight With Cubans

Kretek International Inc., a tobacco importer headquartered in Moorpark, has won an important round in an ongoing trademark dispute with two Cuban cigar companies.

VEDC Files for Chapter 11 Bankruptcy

The Valley Economic Development Center Tuesday afternoon filed for Chapter 11 bankruptcy, throwing into doubt the future of one of the Valley area’s most prominent lenders to small and disadvantaged businesses.

LTC Properties Declares Q3 Dividend

LTC Properties Inc. on Monday declared a cash dividend on its common stock for the third quarter.

Monday, July 1

Labor Federation Endorses Strike Vote for Grocery Workers

The Los Angeles County Federation of Labor on Monday endorsed a potential strike by supermarket workers, which could include picket lines and boycotts.

Oakmont Stages Preview of Valencia Facility

Oakmont Senior Living held an open house at its new Valencia location on Friday to introduce care options to prospective customers in preparation for an official opening on July 13.

Business Journal Wins National, Local Awards

The San Fernando Valley Business Journal won both national and local accolades for its editorial and design quality over the weekend.

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