Stories for June 2019

Friday, June 28

Affordable Housing Proposed in North Hills

A proposed project in North Hills filed June 27 with Los Angeles Department of City Planning would bring 54 units to the neighborhood, per an Urbanize.LA report.

Combined 112 Units in Tarzana Sell for $26 Million

A pair of apartment buildings at 5919 and 5931 Reseda Blvd. in Tarzana totaling 112 units has sold for $25.8 million.

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Valley-made Rocket Engines Ready for Blastoff

Four rocket engines originally designed for the Space Shuttle have been delivered to Michoud Assembly Facility near New Orleans to be attached to the core stage of the Space Launch System, NASA’s next generation heavy-lift rocket that will take astronauts on missions into deep space, potentially even to Mars.

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Negative Opinion Issued on Amgen Drug

The European Medicines Agency issued a negative opinion for Amgen Inc.’s Evenity, a drug to treat osteoporosis, according to a statement issued by the company on Friday.

Thursday, June 27

FDA Issues Recall for Medtronic Insulin Pump

Medtronic’s insulin pump product, MiniMed 508 Paradigm, has been recalled after the pumps exhibited potential cyber security risks, according to a statement issued from the Food and Drug Administration on Thursday.

Reagan Foundation Awards Scholarships to 18 Recipients

The Ronald Reagan Presidential Foundation and Institute in Simi Valley on Tuesday announced the winners of the 2019 GE-Reagan Foundation Scholarship Program in partnership with Boston conglomerate General Electric.

Disney Declares Dividend

Walt Disney Co.’s directors on Wednesday announced they had approved a dividend of 88 cents a share, unchanged from the previous one.

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Wednesday, June 26

Glendale Apartment Complex Trades for $7.6 Million

A 19-unit multifamily property in Glendale has sold for $7.6 million, according to brokerage CBRE Group Inc.

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Semtech Golf Tournament Raises $108,000 for Family Services

Semtech Corp.’s seventh annual charity golf tournament raised more than $108,000 in donations for Ventura County nonprofits.

Two Biotechs Win Amgen Golden Tickets

Amgen Inc., with the help of San Francisco-based MBC BioLabs, has awarded the Amgen Golden Ticket to two biotherapeutic companies.

Cherokee Changes Name to Apex

Cherokee Global Brands announced Tuesday that it will change its name to Apex Global Brands, effective tomorrow.

Candy Company to Close Glendale Office

Ferrara Candy Co. is closing its downtown Glendale offices, resulting in layoffs for some of the 88 employees working there.

Tuesday, June 25

AeroVironment Beats Estimates on Revenue

AeroVironment Inc. matched Wall Street estimates on earnings and beat on revenue for the fiscal fourth quarter.

Amgen Partners With Washington University for Cancer Research

Amgen Inc. and the University of Washington’s Institute for Protein Design have announced a partnership to develop protein-building research projects for new medicines.

Burbank's Talaria Development Wins Architecture Award

Talaria at Burbank, the new apartment complex from Cusumano Real Estate Group, has won the Grand Award winner at the 2019 Gold Nugget Awards.

Monday, June 24

Amgen Spotlight On Advertising, Study Results

Biotech joins lawsuit over drug price disclosure in commercials.

Amgen Inc., Merck & Co., Eli Lilly Co. and the Association of National Advertisers filed a lawsuit to stop a new federal regulation requiring the disclosure of the list price for prescription drugs in television advertisements, according to a Reuters report on June 17.

L.A. County Unemployment Rate Dips Lower

L.A. County’s unemployment rate dipped slightly last month to 4.5 percent.

Endonovo Recruits Johns Hopkins Professor to Advisory Board

Endonovo Therapeutics, an electric therapy device maker, has named Dr. Steven Levin to its scientific.

Warner Bros. Entertainment Selects Chief Executive

Ann Sarnoff is the new chief executive at Warner Bros. Entertainment, according to media reports.

ASGN Terminates Chief Executive

ASGN Inc. terminated the employment of former Chief Executive Peter Dameris as he was investigated in connection with the college admissions scandal.

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Apartments Deliver Luxury at Former Post Office

The Clarendon will put 335 units on narrow parcel next to 101 in Woodland Hills.

REAL ESTATE Apartments near completion.

Nonprofit Grant Will Fund Mental Health

Money will go toward real estate expansion planning.

Money will go toward real estate expansion planning.

Bicycle Shop Still Spinning After 45 Years

Service and racing specialization separates store from competition.

Service and racing specialization separates store from competition.

Arcutis Names Burrows VP for Finance

Former Amgen executive joins drug developer.

Arcutis Inc. has named Scott Burrows its vice president of finance, according to a statement from the company.

Tarzana Atrium Construction on Schedule

Property manager expects fewer tenants but bigger footprints.

HEALTH CARE New medical offices in Tarzana.

A Forum With Emphasis on Multifamily

Carmel Partners’ Zeff discusses class A apartments at M&M event.

Marcus & Millichap Inc. forum.

S3 Builders Celebrates New Sun Valley Digs

Construction company relocates to offices nearby former headquarters.

Scrappy Sun Valley firm S3 Builders just celebrated its 15th anniversary with an expansion.

Production Firm Takes Van Nuys Warehouse

Lease will support mobile production trucks and broadcast services.

A Pittsburgh-based production company has signed a 108,162-square-foot industrial lease in Van Nuys.

Tool Seller Hammers Out Deal for Calabasas HQ

Harbor Freight takes office campus but leaves vacancy at former headquarters.

REAL ESTATE Harbor Freight Tools USA Inc. moves to new Calabasas headquarters

Farmers Cry Foul as Wildlife Rule Skips CEQA

Business group’s suit seeks environmental review of regulation on 163,000 acres.

REAL ESTATE Ventura County business and labor group sues over wildlife ordinance.

Top Nonprofit Helps Developmentally Disabled

LIST: Regional Center reports annual revenue of $433 million.

THE LIST Nonprofits face funding challenge.

Construction, Repurposing at Van Nuys Airport

LIST: New space needed for maintenance, storage and offices at the airfield.

THE LIST Construction at Van Nuys Airport.

Tangy Startup

FOOD: Lemon-based salad dressing appeals to Mediterranean palate and those seeking ‘all the good stuff.’

FOOD Lemonette’s citrus-based condiments.

AROUND THE VALLEYS

News and notes from the greater San Fernando Valley

News and notes from the greater San Fernando Valley

Businesses Still Won’t Get Respect

Maybe now the local business community will get more respect, you think?

Summertime; the Livin’s (Not) Easy

Only young people should need minimum wage jobs.

Turnaround Team

Aerospace firm’s valuation grows by factor of 10.

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Plight Lingers From NoHo Fire

RETAIL: Shops seek SBA loans to rebuild damaged storefronts.

RETAIL North Hollywood businesses damaged by fire seek SBA loans.

CSUN Dean Climbs Swiss Mountains

Region’s business elite.

Glendale Attorney Moves to Armenia

City Council member switches career to serve his homeland.

Zareh Sinanyan, an attorney in Glendale and a member of the City Council, has resigned his position to work for the government of Armenia.

Capstone HQ Hosts IndyCar Drivers

Conor Daly, Colton Hera tour turbine factory in Van Nuys.

Capstone Turbine Corp. had a visit this month from two of its brand ambassadors.

‘Virtual’ Eateries

RETAIL: Leasable kitchen facilities cater to pickup restaurants that don’t need a storefront.

RETAIL Virtual eateries use shared kitchens.

Acquisitions Show Teledyne’s ‘High-End Vision’

TECHNOLOGY: Addition of 3M unit a ‘long-term core business’ for company.

MANUFACTURING Teledyne Technologies Inc. kes strategic acquisitions.

Comp Care

HEALTH CARE: ProHealth offers workers’ compensation programs to employers in clinics or a mobile trailer.

HEALTH CARE ProHealth Medical Group specializes in workers’ compensation cases.

Hollywood Group Hires Media Veteran

Former experience includes horse race network development.

The Hollywood Professional Association has named industry veteran Phil Kubel as its director.

Warner Bros. Greenlights Student Films

Studio funds nonprofits to teach storytelling and technology.

Warner Bros. Entertainment wrapped this month the second seasons of two in-school programs that reached more than 3,500 middle and high school students in Los Angeles Unified School District.

Game Gadgetry Abounds at This Year’s E3

Burbank’s Performance Design shows off multi-color controllers.

More than 66,000 people attended the three-day E3 video and computer gaming trade show this month at the Los Angeles Convention Center.

Black Bear Diner Caves into Simi Valley Demand

Franchisee opens 222-seat location, chain’s first in Ventura County.

Black Bear Diner has arrived in Simi Valley, bringing with it a menu of homestyle comfort food and an exorbitant amount of bear decor.

MGA’s Larian Toys With a Mattel Merger

Chatsworth CEO retracts offer, citing ‘hostile’ management.

Chatsworth toy manufacturer MGA Entertainment Inc. has rescinded last month’s offer to merge with rival toy company Mattel Inc., in El Segundo, citing the company’s struggling financial position.

Shin Sushi Secures Start in Michelin Guide

Year-old eatery draws on heritage for cuisine inspiration.

Year-old eatery draws on heritage for cuisine inspiration.

Friday, June 21

VICA Adds Businesses to Hall of Fame

The Valley Industry & Commerce Association inducted its newest members into the San Fernando Valley Business Hall of Fame on Thursday night.

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Venture Capital Firm Keynotes Bioscience Alliance Event

The Conejo Valley’s BioScience Alliance hosted Westlake Village BioPartners, a quickly growing venture capital firm, for its meeting Thursday night.

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Preview: Ventura Farmers Call New Law an Overreach

Restrictions limit fencing, lighting, land use.

Preview: Plight Lingers From NoHo Fire

Shops seek SBA loans to rebuild damaged storefronts.

Thursday, June 20

Casamba Adds Compliance Software Business to Partner List

Casamba, an electronic medical record provider, has added HIPAA One to its partner network, according to a statement from the company on Thursday.

Valley Village Apartment Complex Sells for $2.8 Million

A seven-unit apartment building at 11565 Riverside Drive in Valley Village has sold for $2.8 million, or $400,000 per unit.

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Cherokee Global Brands Appoints New Chairman

Clothing and footwear company Cherokee Global Brands, based in Sherman Oaks, announced last week the appointment of current director Evan Hengel as chairman of the board of directors.

Eight Studio City Office Condos Sell for $10.4 Million

A group of eight office condominiums at the Enclave at 3450 Cahuenga Blvd. in Studio City has sold for a combined $10.4 million, according to brokerage Lee & Associates-LA North/Ventura.

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Wednesday, June 19

Former Coke Executive Joins Glendale Marketing Agency

Certified Management Group, a marketing agency specializing in food and beverage brands, on Wednesday named former Coca-Cola Co. executive Doug Middlebrooks as its chief growth officer.

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Disney-Owned Fox Studios Prepares Next Layoffs

Twentieth Century Fox Film Corp. continues to shed employees in the wake of its acquisition earlier this year by Burbank-based Walt Disney Co.

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Taxes, Infrastructure and Homelessness Top Concerns in BizFed Poll

New and increasing taxes, deterioration of public infrastructure and rising homelessness are the top concerns in a new poll of Los Angeles County business owners and executives conducted by the Los Angeles County Business Federation and the Employers Group.

Ventura Cannabis Company Closes $20 Million Financing

Cannabis education company Green Flower Media announced it has closed $20 million in series A financing.

Tuesday, June 18

Walton Foundation Executive to Join Hilton Organization

The Conrad N. Hilton Foundation on Monday named Marc Holley as its vice president of strategy and programs.

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Suburban L.A. Rounds World’s 20 Most Expensive Office Markets

The suburban Los Angeles market ranked 20th globally in prime office occupancy costs at $102.05 a square-foot per year, according to a new report from CBRE Group Inc.

Moorpark's ERP Power Acquires Tunable Light Manufacturer

ERP Power LLC has acquired Lumenetix, a Northern California manufacturer of tunable LED lamps for the lighting market.

Monday, June 17

Senior Housing to Replace Warner Center Trampoline Park

A Warner Center commercial building currently occupied by a trampoline park could be redeveloped into senior housing, according to plans filed with the city of Los Angeles.

Amgen Joins Effort to Stop Drug Price Advertising Requirement

Amgen Inc., Merck & Co., Eli Lilly Co. and the Association of National Advertisers filed a lawsuit Friday against a new federal regulation requiring the disclosure of the list price for prescription drugs in television advertisements.

Endonovo Rolls Out Pain-Relieving Device in Hospitals

Endonovo Therapeutics plans to roll out its SofPulse product to hospitals on a national level, according to a company statement.

Pittsburgh Production Company Leases Van Nuys Warehouse

A Pittsburgh-based film production company has signed a 108,162-square-foot industrial lease in Van Nuys.

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Friday, June 14

Former Federal Energy Regulator Joins Capstone Board

Capstone Turbine Corp. has appointed Robert Powelson to its board of directors.

NoHo Complex to Replace Strip Mall, Apartment Building

A proposed development would raze a strip mall and vacant apartment building in North Hollywood to pave the way for an 84-unit apartment building.

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Logix Credit Union Opens Branch in Santa Clarita

Logix Federal Credit Union has opened its newest branch at Bridgeport Marketplace in Santa Clarita.

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FDA Approves Amgen Biosimilar for Breast Cancer

A cancer drug developed through a collaboration between Amgen Inc. and Allergan Plc. has been approved by the U.S. Food and Drug Administration, according to a statement from the companies.

Thursday, June 13

Westlake Village Office Building Sells for $18 Million

Westlake Plaza Centre 2, an 84,098-square-foot office building at 2829 Townsgate Road in Westlake Village.

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Northridge Hospital Hires New COO

Northridge Hospital Medical Center on Monday named Betsy Hart its chief operating officer, according to a statement from Dignity Health.

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Toymaker MGA Proposes Merger with Rival Mattel

Chatsworth toy manufacturer MGA Entertainment Inc. made a bid last month to merge with rival toy company Mattel Inc., in El Segundo, which rejected the offer.

Burbank Warehouse Sells for $2.3 Million

A 7,400-square-foot industrial building in Burbank has sold for $2.27 million, or $307 a square foot, according to brokerage NAI Capital.

Wednesday, June 12

Sightseeing Bus Company Signs $2.6 Million San Fernando Lease

Sightseeing tour bus operator Big Bus has signed a five-year, $2.6 million lease for 720 Jessie St. in the city of San Fernando.

Business Journal Recognizes CFOs, HR Professionals at Awards Luncheon

Finance and HR professionals in the San Fernando Valley gathered at the Hilton Woodland Hills for the Business Journal’s annual Chief Financial Officer and Human Resources Awards ceremony on Wednesday.

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Burbank Ranked the Best Airport in the Nation

Fodor’s named Hollywood Burbank Airport the best in the nation, citing its convenience, location and traveler experience.

Facey Medical Foundation to 'Transfer' 94 Employees

Facey Medical Foundation, an affiliate of Providence Health and Services, issued a statement June 5 that it will lay off 94 employees from its Mission Hills location, but they will be rehired by a contractor.

Tuesday, June 11

Medtronic Partnership to Automate Insulin Pumps

Medtronic Inc., a medical technology company headquartered in Dublin, Ireland with its insulin pump division in Northridge, plans to work with Palo Alto-based Tidepool on an automated insulin pump system for diabetes.

Agoura Hills Office Property Sells for $4.75 Million

A private investor has purchased a multi-tenant office building in Agoura Hills from an undisclosed seller for $4.75 million.

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AeroVironment Buys Unmanned Helicopter Company

AeroVironment Inc. has acquired Pulse Aerospace LLC, a maker of unmanned helicopters in a deal valued at $25.7 million.

Fire Damages Shops in North Hollywood

A fire burned through a row of one-story retail businesses on Monday in the heart of the North Hollywood Arts District, causing severe damage to five shops.

Monday, June 10

Brush Fire Closes Magic Mountain

A small brush fire erupted around noon Sunday just East of Six Flags Magic Mountain, spurring an evacuation of the Santa Clarita amusement park.

Vertical Cos. Pays $463 Million for Multi-State Pot Operation

Vertical Cos., a vertically integrated medical and recreational marijuana company headquartered in Agoura Hills, will acquire UMBRLA Inc. for nearly $463 million.

Harbor Freight Moves Calabasas Headquarters

Harbor Freight Tools USA Inc., a national tool retailer that was formerly based elsewhere in Calabasas, has signed a 228,990-square-foot, 15-year lease at Corporate Center Calabasas.

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Bill Codifies Dynamex

Business groups to seek ‘further exemptions.’

Business groups to seek ‘further exemptions.’

Twitter as Client Feedback Tool

CSUN professor taps into social media analysis for companies.

CSUN professor taps into social media analysis for companies.

Digital Fertilization

BIOTECH: Encino clinic has developed an algorithm to isolate high-quality embryos.

Fertility clinic uses AI to screen embryos.

Dine Brands Profits by Fixing Guest Experience

RESTAURANTS: Promotions and pickup orders power strong first quarter.

Pickup orders earn profits for Dine Brands.

Experimental Crop

L.A. County’s first legal hemp farmer plants 100 acres to test the market for the plant, a cousin to marijuana.

L.A. County’s first legal hemp farmer plants 100 acres to test the market for the plant, a cousin to marijuana.

Women’s Advocate

Attorney Lisa Bloom shares lessons from cases involving powerful personalities in show business.

Lawyer and civil rights advocate Lisa Bloom.

Bar Association Hosts Candidates

Eleven would-be politicos talk law at event in their run for West Valley district.

Eleven would-be politicos talk law at event in their run for West Valley district.

City Sues to Shut Massage Parlors

Legal action cites Tarzana, Van Nuys locations as prostitution operations.

Legal action cites Tarzana, Van Nuys locations as prostitution operations.

Relocation to Burbank With Perks

Fintech company to retain on-site pedicures, dog policy and catered lunches.

Fintech company to retain on-site pedicures, dog policy and catered lunches.

Asset Management Meets Hollywood

Chatsworth software maker sells program to film restoration firm.

Chatsworth software maker sells program to film restoration firm.

GeoLinks Chief in FCC Group

Rural internet access an issue, pending $40 billion in funding.

Rural internet access an issue, pending $40 billion in funding.

Dough Girl Bakes Hope in Business

Pizza parlor offers work to teens in need and vegan cuisine for customers.

Pizza shop hires teens in need.

Funrise’s Caterpillar Toy License

Van Nuys manufacturer already makes Tonka and HeroDrive play vehicles.

Michael Feinstein in Studio City

Nightclub singer opens upstairs venue for top talent.

Nightclub singer opens upstairs venue for top talent.

Raises for Top Executives Despite Stock Declines

LIST: Disney’s Iger takes home $65.6 million to rank No. 1 on list again.

Chief executives earn plenty in 2018.

Treasurer Talks Affordable Housing

Fiona Ma tells builders ‘to look at what the state has to offer’ for funding.

State treasurer gives keynote on affordable housing.

Glendale Site Slated for Self-Storage

$9 million purchase paves way for redevelopment.

$9 million purchase paves way for redevelopment.

Fed Just Keeps Harming Economy

Economic impediment of Federal Reserve policies; BrandMaps for marketing.

The Strategy of Brand Recognition

Think of your favorite musician. When you hear one of their songs, even if you’ve never heard it before, you can probably recognize it as theirs.

Leaders Shift At AV Hospital

Health Care: New management plans to address ER crisis.

New leaders to rebuild AV Hospital.

‘Barry’ Shows NoHo’s Charms

MEDIA: Acclaimed HBO series uses Valley culture, locations.

HBO series promotes, shoots in Valley.

VALLEY INSIDER: Attorney Organizes Charity Veggie Chopping

Attorney organizes volunteer cooking sessions.

Attorney organizes volunteer cooking sessions.

Marketer to Open Cali Wine Shop

Burbank store to showcase growing cadre of California craft vintners.

Burbank store to showcase growing cadre of California craft vintners.

Friday, June 7

Preview: Interview With Lisa Bloom

Attorney Lisa Bloom discusses cases involving Harvey Weinstein and Bill O'Reilly in an exclusive interview.

Preview: 'Barry' Shows NoHo's Charms

HBO series highlights Valley culture, locations.

Valley Group Takes PAGA Challenge to Court

The California Business and Industrial Alliance appeared yesterday in Orange County Superior Court to defend its challenges to the Private Attorneys General Act, or PAGA, a law which encourages employees to file lawsuits to receive monetary awards if they find businesses in violation of the state’s labor code.

Wells Fargo Names Regional Leaders for Commercial Division

Wells Fargo Bank has announced leadership changes to the Los Angeles area’s newly integrated commercial banking division, including naming Stender Sweeney as division executive.

Hotel, Apartments to Replace Defunct School in Newbury Park

A developer has proposed new uses for an obsolete school in Newbury Park while preserving the historic value of the buildings, which date back nearly a century.

Thursday, June 6

Westlake Village Firm Launches Energy-Saving Refrigerant

Alltemp Inc., a refrigerant tech company in Westlake Village, announced on Thursday its newest product to provide energy savings to customers.

GeoLinks Funding Approved for Internet Buildout

GeoLinks has been formally approved to receive funding for the buildout of internet connections in rural California and Nevada.

NBC4 Appoints Vice President of News

Renee Washington has been appointed as the vice president of news at NBC4.

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Glendale Apartment Portfolio Sells for $79 Million

Dana Point-based Raintree Partners purchased seven multifamily properties in Glendale for $79 million.

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Wednesday, June 5

Teledyne Makes ‘Core Business’ Acquisition

Teledyne Technologies Inc. will acquire the gas and flame-detection business of 3M Co. for $230 million in cash.

Water Service Changes Hands in Ventura County

California American Water has acquired Rio Plaza Water Co., located in Ventura County, for an undisclosed amount.

Amgen Oncology Drug Struggles in Phase 1 Study

Nearly half of patients involved in a study for Amgen Inc.’s BiTE drug, an experimental cancer treatment, experienced adverse effects, according to data released Wednesday from its phase 1 study for myeloma.

Measure EE’s Defeat Pleases VICA

The chief of the Valley Industry and Commerce Association was pleased with the outcome of Tuesday’s vote on a ballot measure for parcel tax to raise money for the Los Angeles Unified School District. VICA opposed the proposal, which was defeated.

New COO Selected for US Nuclear

US Nuclear Corp. has named Richard Landry as its chief operating officer, director of investor relations and business development consultant.

Monday, June 3

Children to Love Hosts 'Hearts-4-Mercy' Charity Concert

Philanthropic nonprofit Children to Love is hosting a charity event next week to support children and orphans in the Ugandan town of Wakiso.

New Self-Storage Facility Coming to Glendale

Trojan Storage, a Los Angeles-based self-storage company, has purchased a site in Glendale to build a new storage facility.

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Thousand Oaks Art Museum Elects New Chairman

The California Museum of Art Thousand Oaks board of directors has named Len Linton, president of Guardian Insurance Services, as the nonprofit’s new chairman.

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Reports: Stratolaunch to Cease Operations

Stratolaunch, the company in Mojave that built the world’s largest aircraft to launch rockets into space, will cease operations, according to media reports.

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