Stories for March 2019
Friday, March 29
An unidentified independent studio operator with an existing Santa Clarita Valley presence has signed a new 166,359-square-foot lease at Rockefeller Crossing.
Three new retailers will open shop in the next few days at Camarillo Premium Outlets.
A helicopter bound for Mars completed test flights in a vacuum chamber at NASA Jet Propulsion Laboratory in La Cañada-Flintridge.
Thursday, March 28
A Glendale gym at 1001 E. Colorado St. has been demolished to make way for the construction of a new Holiday Inn & Suites hotel, now underway.
Vintage Grocers is closing its Westlake Village location resulting in job losses for 65 employees.
Princess Cruises has signed contracts with Italian shipbuilding company Fincantieri for the construction of two next-generation cruise ships.
HemaCare Corp. has entered into a partnership with Tissue Solutions Ltd. to supply customers with a wider range of disease-state biomaterial for research.
Wednesday, March 27
Entertainment Partners has reached an agreement to be acquired by a private equity firm.
Salem Radio Network has extended its contract with radio host Mike Gallagher through 2023.
The UrgentMED Network has announced the opening of its Calabasas Urgent Care location, which actually is in Woodland Hills.
Marshall Stowell will serve as the Conrad N. Hilton Foundation’s first-ever vice president for communications, the organization announced Wednesday.
Tuesday, March 26
Los Angeles real estate developer Verono Homes has begun building its first project in North Hollywood, called Outline at NoHo.
Investment advisory firm B. Riley Capital Management, a subsidiary of Woodland Hills-based B. Riley Financial, has set up a new credit division called Gateway Credit Partners.
Hollywood Burbank Airport is hosting a public meeting on Wednesday about the new replacement terminal project.
Monday, March 25
Facebook Inc. hosted a forum called “Boost Your Business” in conjunction with the San Fernando Chamber of Commerce, in the city of San Fernando Monday morning.
Drivers for ridesharing services Uber and Lyft are striking today in Los Angeles and parts of Orange County to protest recent cuts to their per-mile revenue.
ServiceTitan Inc. is expanding into a Glendale office building once occupied by Nestle USA.
BNK Petroleum Inc. has started “a formal process to identify and evaluate strategic options,” including a possible sale or merger of the company.
Friday, March 22
Digital real estate brokerage Rex is expanding its service to Philadelphia, southern New Jersey and, soon, Delaware.
Los Robles Hospital and Medical Center has spent $1 million to purchase a Stryker Mako Robotic-Arm for its Thousand Oaks Surgical Hospital.
Thursday, March 21
A Studio City retail building located at 12250 Ventura Blvd. that was most recently home to the mattress business Bedfellows has sold for an undisclosed price.
Dyve Bioscience reported positive results for a study to reduce pain associated with gout.
Semtech Corp. has partnered with Swiss hearing aid manufacturer Sonova Holding AG on a new device that uses the company’s long-range, low-power technology.
The Tudor office building in Woodland Hills has sold for $5.4 million, or $228.68 per square foot.
Wednesday, March 20
Three people were injured after an explosion rocked a Canoga Park industrial area Wednesday that collapsed part of the building’s roof and tore through three units.
Woodland Hills’ Endonovo Therapeutics has partnered with SunMed, a medical equipment distributor and claims company in Valencia, to distribute medical devices.
Shares of Cinedigm Corp. gained more than 5 percent Wednesday in the next trading session after the company announced a deal to distribute Chinese movies.
Walt Disney Co. on Wednesday closed on its $71.3 billion acquisition of the media assets of 21st Century Fox.
The number of homes sold last month in the San Fernando Valley reached a record low for February, even as inventory expanded and prices softened, according to a report from the Southland Regional Association of Realtors.
Tuesday, March 19
A business unit of Teledyne Technologies Inc. has received a contract of more than $20 million to continue its support of the F-35 Lightning II fighter aircraft.
A former Amazon.com Inc. and Microsoft Corp. executive will join the board of BlackLine Inc.
Funrise Inc. has acquired the rights to design, manufacture and distribute toys based on “Wonder Park,” a film by Paramount Animation and Nickelodeon Movies.
Monday, March 18
Bank of America of the Greater Los Angeles Region plans to hire as many 300 bankers across all of its business lines over the next three years, according to the bank’s top executive in the region.
After months of negotiations and a near strike earlier this month, the nurses of SEIU Local 121 RN have ratified their contract with Pacifica Hospital of the Valley on Monday.
Kevin Tsujihara is stepping down as chief executive of Warner Bros. Entertainment, according to media reports.
Dine Brands Global Inc. has made a deal to open International House of Pancakes locations in Pakistan.
News and notes from the greater San Fernando Valley
News and notes from the greater San Fernando Valley
Special Report: Entertainment
Jeffrey Travis, of virtual reality hardware firm Positron.
Calabasas Capital advises seller of Bob’s Big Boy dressings.
Financial advisory Calabasas Capital has closed a deal to sell a brand with Valley roots: Bob’s Big Boy Salad Dressings and Sauces.
Special Report: Entertainment
Despite costly headsets and motion sickness, Valley companies involved in virtual reality see a market opportunity ahead for enhanced entertainment.
LIST: Identifying threats to intangible assets such as data presents a challenge.
Ranked by 2018 Valley-area revenue.
HOSPITALITY: Caruso opens reimagined luxury hotel overlooking prime beach.
Caruso opens luxury Montecito hotel.
Alfred Mann Foundation hopes to expand mission by helping existing life science firms improve their technology.
The Alfred Mann Foundation, which has developed its own breakthroughs in medical technology for the last 35 years, wants to expand by helping outside companies as part of a new business incubator.
Mitch Schneider has promoted some of the music industry’s biggest acts, from the Sex Pistols to Ozzy Osbourne to Tom Petty.
Music industry publicist Mitch Schneider.
MEDIA: Market rebound raises distributor’s share price and capitalization.
So far this month, Cinedigm Corp. has managed to regain compliance with two rules to keep its shares on the Nasdaq.
FINANCE: B. Riley’s acquisition of two investment banks results in some costly personnel cuts and restructuring charges.
Woodland Hills-based B. Riley Financial Inc. closed two high-profile acquisitions in 2017
CARRIER: Spirit Airlines will begin three-times-a-day flights starting June 20.
Spirit Airlines starts service from Hollywood Burbank Airport.
HOSPITAL: $14 million expansion promises to expedite rapid care.
Valley Presbyterian opens new emergency department.
Contest to recognize retailers for wild western decoration.
California Resources Corp. has signed on as presenting sponsor for the Santa Clarita Cowboy Festival.
Sunday, March 17
AUTOMOTIVE: Software makers partner to reach wider market.
MarketScan, a Camarillo producer of automotive financing software, has forged an alliance with Dallas counterpart StoneEagle to parlay their respective strengths into improving their services.
Friday, March 15
STX Entertainment this week announced $700 million in new capital from a Series B investment round.
Cinedigm Corp. has added to its streaming footprint with the acquisition of a Northern California video-on-demand channel network.
Amgen Inc. could greatly expand its market for cholesterol drug Repatha if an upcoming study is successful.
InVia Robotics has sold its automated robot and management system to a warehouse of e-commerce fulfillment business in Reno, Nev.
In case you didn’t see our last issue, the one dated March 4, you missed a true day brightener. If you live or work in the San Fernando Valley, that is.
Thursday, March 14
The Ventura County Fire Department on Wednesday issued a report saying that arcing of wires owned and operated by Southern California Edison caused the massive 2017 Thomas Fire in Ventura and Santa Barbara Counties.
Education system Muse Global has been approved to offer franchises in cities throughout California.
American Environmental Group, a consulting firm in Westlake Village, has been acquired by global insurance provider McLarens.
MannKind Corp. will be sponsoring race car driver Conor Daly when he debuts with the Andretti Autosport team at the Indy 500 in May.
Wednesday, March 13
Salem Communications Corp. swung to a loss in the fourth quarter, sending shares down.
Café Bizou, a long-standing French restaurant in Sherman Oaks, has announced it will close at the end of the month. The restaurant will serve its last meal on March 31, closing out a 25-year run.
Amgen Inc., with the help of comedian and television host Jay Leno, has launched Cholesterol 911, a national initiative to reduce cardiovascular disease.
Tuesday, March 12
Branded Entertainment Network closed 2018 with its highest annual revenue ever, up 52 percent from its 2017 performance, the company announced Tuesday.
Providence St. Joseph Health and Cedars-Sinai have agreed to create a joint venture to own and operate Providence Tarzana Medical Center.
Reseda’s Los Angeles Jewish Home opened a new research facility for geriatric health issues, the facility announced Monday.
Spirit Airlines will begin service in June between Hollywood Burbank Airport and McCarran International Airport in Las Vegas.
Monday, March 11
A multi-tenant retail property in Newhall has sold in an all-cash transaction for $2.45 million, or $389 a square foot.
Valley-area woman-owned small businesses will get access to additional affordable loans after Bank of America announced Friday that it is doubling its capital investment in the Tory Burch Foundation to $100 million.
Kaiser Permanente Panorama City Medical Center has named Laura Gallardo as its new chief operating officer.
Friday, March 8
Northrop Grumman has received a $322 million contract from the U.S. Navy to produce a new rocket motor for a variant of its advanced anti-radiation guided missile system.
Qualstar Corp. had weak results in the fourth quarter but showed improvement for the full year.
San Fernando Valley Business Journal handed out its Commercial Real Estate Awards Thursday night during a dinner event held at the Hilton Woodlands Hills hotel.
Valley Presbyterian Hospital held a ribbon-cutting ceremony Friday for the newly restructured emergency department. The space, which initially was scheduled to take two years, ended up taking four years for construction to be completed.
Thursday, March 7
Henry Dubroff — the founder, editor and the entrepreneur behind Santa Barbara-based Pacific Coast Business Times — discussed the evolution of corporate culture in the region in a presentation Wednesday at Lundring Events Center, located on the California Lutheran University campus in Thousand Oaks.
B. Riley Financial on Tuesday reported fourth quarter earnings lower than the previous year on account of the stock market's wild ride near the end of 2018.
BlackLine Inc. has promoted Patrick Villanova to chief accounting officer, the company announced Thursday.
Walt Disney Co. shareholders elected or re-elected nine members to the board at the annual meeting Thursday in St. Louis.
Wednesday, March 6
The Aviation Committee of the Valley Industry & Commerce Association received an update Wednesday on efforts to allow public events in aircraft hangars at Van Nuys Airport.
A series of rain storms has delayed the official rollout of Porter Ranch shopping center The Vineyards, which was originally scheduled to begin opening stores this week.
A private investor has acquired a 29-unit apartment building in Northridge for $6.95 million, or $239,655 per unit.
Cinedigm Corp. has regained compliance with a Nasdaq rule requiring its shares to have a minimum market capitalization of $15 million.
Tuesday, March 5
Teledyne Technologies Inc. announced Tuesday that its defense and space business unit developed critical payload equipment for the Airbus OneWeb satellite internet constellation.
A Reseda site used as an ambulance dispatch center has been sold for $2.2 million, or $362 per square foot.
Tix Corp. has returned to selling discounted tickets to Cirque du Soleil shows at MGM Resorts International in Las Vegas.
AeroVironment Inc. beat Wall Street expectations on earnings and matched on revenue in the fiscal third quarter.
Monday, March 4
Capstone Turbine Corp. has received orders for its micoturbines from two California cannabis growing operations.
Greater Conejo Chamber of Commerce held its 2019 Recognition Gala fundraiser Friday at the Hyatt Regency Westlake, with the theme "Come Together for an Evening with the Beatles."
Avery Dennison Corp.’s Chief Executive Mitch Butier has been chosen as the new chairman of the board at the label and packaging material manufacturer.
If you follow the business community, you’ve probably seen a number of single-issue groups form to fight a law or advocate for something.
LIST: A rush to remodel and develop performance arts venues in the Valley.
Upgrades at performance facilities.
EVENT: Industrial space shortage remains a challenge in Conejo.
Cal Lutheran economist gives forecast.
The beginning of every year prompts a flood of new ideas from California’s state legislators, and obviously, I’m grateful to them.
DISASTER: Damage restoration firms busy in aftermath.
Businesses recover from the Woolsey Fire.
CONSTRUCTION: Vans bring design to the middle class.
EZPlans delivers mobile architecture.
Craft brewer says cheers for helping during startup phase.
Beer named after chamber chief executive.
AUTOMOTIVE: Upgraded showroom offers advantage in competitive Ford market.
Sunrise Ford completes $24 million makeover.
RESTAURANTS: Share price jumps on strong fourth quarter revenue growth.
Dine Brands sees strong fourth quarter.
RESIDENTIAL: City council tries to balance interests of owners and tenants.
Landlords bristle at new Glendale rent rules.
Genna Rosenberg’s marketing agency for toys ventures into new product development.
Toy PR group enters product development.
FINANCE: Avinew attracts $5 million in seed money from venture capitalists.
InsureTech startup Avinew targets driverless cars.
CLOSURE: But Rocket Fizz chain retains 100-plus locations across country.
Flagship Rocket Fizz flops in Camarillo.
Lewis Horne, president of CBRE Group’s Pacific Southwest Divison, thinks the commercial real estate market has ‘never been better.’
Lewis Horne of CBRE Group.
Friday, March 1
Attorneys discuss recent changes in employment law – and the liability landmines they present for managers and companies.
A 2.6-megawatt rooftop solar array has been installed on top of a warehouse in Sun Valley.
One of the biggest entertainment acquisitions announced last year has been canceled.
A planned 10-day strike has been called off at Pacifica Hospital of the Valley in Sun Valley, the hospital announced Thursday.
Kaiser Permanente has renewed its lease for nearly 11,000 square feet of medical office space in Valencia.