Stories for September 2020
Wednesday, September 30
On the eve of the Los Angeles Lakers’ first NBA Finals appearance in 10 years, LeBron James’ SpringHill Co. has scored off the court.
West Hills Hospital on Tuesday announced Dr. Donald David as its new chief medical officer.
An office condominium has sold in Valencia for $2.1 million.
The Los Angeles County Board of Supervisors voted Tuesday to approve the re-opening of brewery and winery tasting rooms that partner with a third-party food vendor.
Tuesday, September 29
Walt Disney Co.’s park division said Monday it is reducing its staff count as a result of the COVID-19 pandemic, with 28,000 domestic employees affected.
The California Business and Industrial Alliance Tuesday launched its first national television advertising campaign with a commercial denouncing the impact of California’s AB-5 law on freelance workers.
Triscenic Production Services has added 275,000 square feet to its industrial presence in the Santa Clarita Valley.
Avantus Aerospace has acquired Fastener Innovation Technology Inc., a Rancho Dominguez specialty fastener manufacturer for military and commercial aircraft.
Monday, September 28
Avery Dennison Corp. and Valo Ventures have invested $5 million in RoadRunner Recycling.
NetSol Technologies Inc. missed Wall Street estimates on revenue for the fiscal fourth quarter.
Cinedigm Corp. has signed an agreement with video streamer Roku to distribute the Bloody Disgusting channel.
Employment attorney David Jones becomes new president.
The San Fernando Valley Bar Association has elected new trustees and officers, led by David Jones as president.
Credit union’s commercials and videos feature NBA team’s players.
First Entertainment Credit Union is gearing up to launch “Money Matters”
Cast & Crew in Burbank has named Shelly Mellott president of Final Draft
HOUSING: Audit finds high costs for homeless projects.
Audit finds building homes for low-income residents costs a lot in Los Angeles.
BEVERAGE: L.A. County health rules for tasting rooms make breweries unsustainable, owners say.
At a typical small brewery, the money is made in the tasting room.
ENTERTAINMENT: Calabasas firm manages sports spending for companies.
Live sports and other events were among the earliest casualties of the coronavirus pandemic as venues and teams shut down their operations.
MANUFACTURING: Analysts look to Switchblade drone system for growth.
AeroVironment Inc. is on track to meet fiscal 2021 projections on its finances, company executives said in a conference call with analysts.
Construction: Strong market for educational projects in pandemic.
School construction is a safe bet for builders, seeing that the projects are considered an essential service by the state and the contracts last for years.
West Hills cites ‘significant decline’ in number of births.
West Hills Hospital will close its obstetrics program effective Nov. 1, the health care organization announced earlier this month.
Plan to collaborate on manufacturing treatments.
Biopharma giants Amgen Inc. and Eli Lilly earlier this month announced an antibody manufacturing collaboration for potential COVID-19 treatments, in an effort to scale up production for multiple treatments still in development.
First outpatient replacement could lead to lower costs.
Valley surgeon Dr. Jaime Hernandez performed the first outpatient knee replacement surgery earlier this month using the CORI robot, according to a statement from the Center for Orthopedic Surgery in Van Nuys.
‘Star Wars’ product releases to last through December.
Walt Disney Co. is capitalizing on the popularity of its Star Wars spinoff series “The Mandalorian” with “Mando Mondays,” an upcoming retail campaign in which the company will release a toy, book, comic or other collectible item inspired by the show every Monday.
But city initiative for sidewalks, parking lots on track.
Funding for Phase 2 of Los Angeles’ Al Fresco program has run out, resulting in a temporary pause on the issuance of in-street dining permits for restaurants, Deputy Press Secretary for the Mayor’s Office Harrison Wollman confirmed to the Business Journal.
Nightclubs and concert halls rush to remodel their fixtures.
As live events around the country remain on pause due to the coronavirus pandemic, venues are finding an opportunity to remodel or refurbish old fixtures.
Beyond Limits offers NASA know-how to industry.
Artificial intelligence technology company Beyond Limits has raised $113 million in a Series C funding round, with another $20 million committed.
Private equity firm cites strong brand reputation.
While the coronavirus pandemic surged, Richard Shor was busy selling his company.
LoRa system to extend home wireless networks.
Semtech Corp. has partnered with Amazon.com Inc. on its new wireless network, Amazon Sidewalk, launching later this year.
Thousand Oaks mall displays wall painting titled ‘Conejo.’
NewMark Merrill Cos., the Woodland Hills-based retail shopping center developer, has completed the installation of a Conejo Valley-centric mural at Janss Marketplace shopping center, the 458,000-square-foot shopping center located at Moorpark Road and Hillcrest Drive in Thousand Oaks.
Daly Group’s High Street Depot inches closer to reality
Westlake Village developer Daly Group Inc. has cleared a major hurdle in realizing its Moorpark mixed-use project.
Streamer may set up animation studio in Burbank.
Netflix Inc. is deepening the San Fernando Valley’s longtime status as the capital of the cartoon industry by starting an animation studio in Burbank.
Voters to decide on split-roll tax system in November.
Proposition 15, an initiative to tax commercial and industrial properties at a higher rate for education and local government funding, will have a negative domino effect on the market, commercial real estate experts told the Business Journal.
TOURISM: Hoteliers use coronavirus downtime to update their properties.
Although the hotel industry has suffered a major setback because of the pandemic, a few hotel owners have taken advantage of the slow business period to optimistically forge ahead with site renovations.
DEVELOPMENT: City has retail and residential projects in development.
A two-hotel and restaurant/retail complex, a subdivision with 158 single-family homes and a massive industrial park are among the real estate ventures underway right now in the city of Camarillo.
It is interesting to read that transit agencies such as New York Metro are ending its free fares that it had for a short period during the pandemic.
It’s outrageous that the average cost to build a city-subsidized apartment for the homeless has climbed to $559,000 with highest per-unit cost now at $746,000.
Friday, September 25
ENTERTAINMENT: Calabasas firm manages sports spending for companies.
Under Los Angeles County Public Health Department regulations during the coronavirus pandemic, breweries cannot have their tasting rooms open unless they have an on-site kitchen to serve food.
Tutor Perini Corp. announced this week that it had received a $47 million task order to design and build a facility for the U.S. Navy on the island of Guam.
Valencia Atrium, a three-story office building in Santa Clarita, has sold for $15 million.
Thursday, September 24
A report from the nonprofit Latino Donor Collaborative found that the total Gross Domestic Product of Latinos in the U.S. rose to $2.6 trillion in 2018, up from $2.3 trillion in 2017.
Woodbury University has received a $600,000 grant from the U.S. Department of Education as a Hispanic Serving Institution.
Allan Falk, owner of Post Haste Digital & Post Haste Sound Inc., has purchased a creative office and post-production facility in Burbank for $2 million.
Wednesday, September 23
Burbank entertainment and media giant Walt Disney Co. has shuffled its fall release schedule, delaying the theatrical launch of several movies including the blockbuster Marvel superhero title “Black Widow.”
Netflix Inc. is deepening the San Fernando Valley’s longtime status as the capital of Hollywood’s animation industry by starting an animation studio in Burbank.
Second Sight Medical Products has resumed its early feasibility study for the Orion, its next-generation visual prosthetics system, after being put on hold for seven months because of COVID-19.
Agoura Hills medical device company V-Wave has nabbed $98 million for its Series C round of financing, paving the way for clinical trials and Food and Drug Administration clearance, according to a statement from the company late Tuesday.
Clay Lacy Aviation was awarded by the Orange County Board of Supervisors a 35-year lease at John Wayne Airport to build and operate a fixed base operation at the airfield.
Tuesday, September 22
A 52-unit multifamily property at 6251-6267 Reseda Blvd. in Tarzana has sold for $11.7 million.
Precious metals investment firm American Hartford Gold has opened an office in Woodland Hills.
Princess Cruises in Santa Clarita has announced the sale of two of its ships, the Sun Princess and Sea Princess, to undisclosed buyers.
Artificial intelligence technology company Beyond Limits raised $113 million in a Series C funding round, with another $20 million committed.
Monday, September 21
Funding for Phase 2 of Los Angeles’ Al Fresco program has run out, resulting in a temporary pause on the issuance of in-street dining permits for restaurants.
Tarzana-based real estate firm Gelt Inc. has made a $30 million investment in Gresham, Ore. with the acquisition of Silverwood Apartments.
Semtech Corp. has partnered with Amazon.com Inc. on its new wireless network, Amazon Sidewalk, launching later this year.
Share prices for large-cap companies in the Valley region moved lower as the Dow Jones Industrial Average dropped 1.8 percent.
Friday, September 18
Agents at brokerage Marcus & Millichap Inc. have negotiated the purchase of 18 condominium units in Mission Hills for $4.8 million, or $267,222 per unit.
North Hollywood health care software company ConsejoSano has received an investment from the Bernard J. Tyson Impact Fund.
Mechanix Wear LLC has become a licensee of DuPont Personal Protection, an arrangement that will allow the glove manufacturer to incorporate DuPont’s materials into its products.
Incora, the aerospace parts company formerly known as Wesco Aircraft Holdings, is moving its corporate headquarters from Valencia to Fort Worth, Texas.
Thursday, September 17
Eight local women standouts were given awards Thursday at the San Fernando Valley Business Journal’s annual Women’s Council.
Conservative news and opinion website The Daily Wire will relocate its headquarters from Sherman Oaks to Nashville.
The San Fernando Valley Bar Association on Thursday formally announced its new board of trustees and officers, led by David Jones as president.
Biopharma giants Amgen Inc. and Eli Lilly on Thursday announced an antibody manufacturing collaboration for potential COVID-19 treatments.
Wednesday, September 16
Yapi, a company that makes software for dental offices, has received an investment from M33 Growth, a Boston venture capital firm that focuses on growth-stage startups.
Carnival Corp. disclosed in a quarterly filing Tuesday it will sell a total of 18 ships over the next few months to cut costs as cruise activity remains halted due to the coronavirus pandemic.
Multifamily developer Kaplan Management Co. has shed more light on its intentions to build a mixed-use project at the site of Fry’s Electronics at 6100 N. Canoga Ave. in Woodland Hills.
Tuesday, September 15
Amgen Inc. on Tuesday announced its Golden Ticket winners — startup companies BigHat Biosciences and Trilo Therapeutics.
Loop Media Inc. has signed a deal to distribute 19 music video channels through DistroTV, an independent free streaming television service.
Employees looking to draw from retirement funds to stay afloat during the pandemic can now do so without penalty because of a new law.
Los Angeles City Councilmember Paul Krekorian and City Attorney Mike Feuer have requested an extension of the public comment period of the draft environmental impact report for the proposed replacement terminal at Hollywood Burbank Airport.
Monday, September 14
West Hills Hospital will close its obstetrics program effective Nov. 1, the organization announced earlier this month.
Atara Biotherapeutics has received the U.S. Food and Drug Administration’s green light to start clinical trials for its next-generation CAR T therapy.
Cinedigm Corp. has partnered with Party Crashers Media to distribute a progressive political, news and lifestyle network.
$14 million transaction for housing in North Hills.
A 4.35-acre North Hills site formally hosting Green Arrow Nursery at 8845 Sepulveda Blvd. has changed hands
DEVELOPMENT: Land values could multiply based on commission’s framework.
Westlake Village may not be ready for its close-up just yet.
Local business schools adapt to the pandemic while enrollment remains strong.
Master in business administration programs in the Valley region have not seen a decrease in enrollment as a result of the coronavirus pandemic, leaving administrators pleasantly surprised after months of uncertainty.
Twin-building Delano Village fetches $5.1 million.
Delano Village, an 18-unit apartment property at 14161-14163 Delano St., has sold for $5.1 million.
LIST: Pandemic pushes Reagan and Hilton in different directions.
The Conrad N. Hilton Foundation, ranked No. 1 on the Business Journal’s Foundations list, has responded to the coronavirus pandemic by loosening its pocketbook to help vulnerable communities and local nonprofits.
Camarillo gives land to build a 68-unit development.
Donation of land by city of Camarillo to create affordable housing.
Sussex Capital buys Mountain View Manor in Chatsworth.
Woodland Hills-based Sussex Capital Group has purchased Mountain View Manor Apartments
Sherman Oaks mixed-use has ground-floor retail component.
Los Angeles City Planning Commission has approved a proposed mixed-use apartment complex in Sherman Oaks.
Studio tries traditional distribution in pandemic.
With movie theaters having opened recently in cities across the country, the entertainment industry waited to see how well “Tenet,” the new Christopher Nolan film would do on its opening weekend.
‘Beautiful Dreamer’ takes home three top honors.
Method Fest returned to the San Fernando Valley in late August for the first time in 10 years
Organizers promote one out-of-home movie event.
Calabasas Film Festival will feature one night only drive-in event.
E-commerce giant’s Fresh store integrates technology.
Amazon.com Inc. opened its first Amazon Fresh grocery store last month in Woodland Hills
Scratch Restaurant Group’s two concepts in Encino.
New eateries from Scratch Restaurant Group open during the coronavirus pandemic.
The end of summer is one of my favorite times of year. To me, it represents a new school year for my kids, cooler weather and of course, the beginning of all the fun holidays.
Magnolia Boulevard features in-street food service.
The city of Los Angeles late last month shut down several lanes of a busy stretch of Magnolia Boulevard in the heart of North Hollywood’s Arts District to make room for the neighborhood’s first al fresco dining area.
Some of the best laws passed by Congress in the past decades, on issues like Social Security, taxes and welfare, were the result of input from and compromise between the two parties. Now is time to put partisan politics aside and find compromise to help our small businesses.
Data-sharing aids younger patients to manage disease.
A new insulin pump system from Medtronic, named the Minimed 770G, has received approval from the U.S. Food and Drug Administration
Call to action for patients to come back to hospitals.
The California Hospital Association launched its “Care Can’t Wait” public service campaign late last month
PerkinElmer, state partner to double state capacity.
Los Angeles County doubles COVID-19 testing capacity with Santa Clarita Lab.
FINANCE: Firm originated $37.6 billion in home loans during last quarter.
PennyMac rides rising momentum in mortgage industry.
MEDIA: With the rest of the entertainment industry stalled, animation expands its footprint.
With the rest of the industry stalled due to COVID-19, cartoon companies expand in Valley.
New president brings expertise in diversity to Thousand Oaks campus.
With the start of a new academic year, California Lutheran University welcomes a new president to campus.
‘Touch and Go’ training picks up slack as business aviation lags.
After seeing an almost 50 percent drop in aircraft operations in April with the coronavirus outbreak, Van Nuys Airport has bounced back in activity.
Rex Parris, owner of Parris Law Firm and the mayor of Lancaster, has adopted hydrogen as his energy of choice.
AUTOMOTIVE: Winning season for subsidiary in Santa Clarita.
Honda Performance Development finds victory at this year’s Indy 500.
BIOTECH: ImmPACT finds $18 million in disrupted market.
Venture capital still targeting deals even during coronavirus outbreak.
Friday, September 11
Universal City production studio Hit Parader plans to launch an e-sports platform for celebrities.
Business owners can now sign up for a COVID-19 safety compliance program through Los Angeles County, the Public Health Department said.
With the rest of the entertainment industry stalled, animation expands its footprint.
Thursday, September 10
California Gov. Gavin Newsom has signed into law three bills that will offer support for small businesses and construction projects affected by the coronavirus.
Northrop Grumman received this week a Pentagon contract to engineer and manufacture an updated intercontinental ballistic missile system.
Colliers International recently closed two multifamily deals in the San Fernando Valley — one in Van Nuys, the other in North Hollywood — for a combined price of $11 million.
Wednesday, September 9
The pandemic and temporary move to virtual learning has not negatively impacted graduate program interest at California Lutheran University, a spokesperson for the college said, with enrollment remaining the same as last year at 1,225 students for the fall term.
Volkswagen Group of America Inc. is moving a test center and related operations into the new Oxnard Engineering Campus in Ventura County.
College savings app UNest, based in North Hollywood, announced Wednesday it has acquired Littlefund, another money gifting and savings app.
Glendale lawyer Rudy Dekermenjian, 42, pleaded guilty Wednesday to charges related to a scheme in which a bank was defrauded into processing payments for a merchant whose account had been closed by the bank’s risk department.
Tuesday, September 8
Walt Disney Co. and Warner Bros Entertainment have settled a copyright lawsuit with a company that has a technology for editing out undesired content from movies and TV shows streaming on Netflix and Amazon Prime.
Simi Valley Planning Commission has approved phase I of the 184-home Lost Canyons project, according to city records.
A Calabasas law firm has changed its name to Oberg Law Group, thanks to the addition of Madison Oberg as partner.
Friday, September 4
Chambers of commerce are now eligible to apply for grants through the Los Angeles Regional COVID-19 Recovery Fund.
A 16-unit apartment property in North Hollywood has sold for $3.5 million, or $218,750 per unit.
Three Santa Clarita Valley residents have been charged in federal court on allegations of embezzling $1.7 million from a company in a scheme involving diversity recruitment and hiring.
BYD Motors Inc. announced this week its participation in a statewide contract to allow U.S. transit agencies to leverage California’s purchasing contract to buy its battery-electric motor coaches.
Thursday, September 3
Longtime Westcord Commercial Group real estate broker Dennis “Denny” Bloom died Aug. 19, according to the company.
Cinedigm Corp. has signed an agreement with Atmosphere, a streaming service for businesses, to distribute the Bob Ross Channel.
Semtech has supplied its long-range, low-power technology to two Australian companies to deploy in avocado plantations.
During August, FilmL.A. processed about 44 percent of the number of on-location filming applications it would expect under normal summer conditions.
Wednesday, September 2
More than five months after Gov. Gavin Newsom issued an eviction moratorium, the state has issued modified regulations for California tenants and landlords.
L3Harris Technologies has won a contract to build two sonar systems for an undisclosed member of the North Atlantic Treaty Organization.
Northrop Grumman Corp. completed the critical design review of an upgraded navigation system for U.S. military aircraft.
The city of Los Angeles has approved Lankershim Crossing — a mixed-use project to be built by a joint venture of Summerland Partners and Hankey Investment Co. that will put 432 dwellings on a nearly 4.5-acre site in Sun Valley.
Tuesday, September 1
Los Angeles City Council member Bob Blumenfield successfully led an effort Tuesday to end one small but aggravating issue for local retailers during the pandemic: Fines for businesses that put up banners saying they were open.
Medtronic on Tuesday announced one of its insulin pump systems, the Minimed 770G, has received approval from the U.S. Food and Drug Administration.
Capstone Turbine Corp. received an order for two of its natural gas-fueled C200 microturbines from a textiles and home furnishings manufacturer in Slovenia.
ASGN Inc. in Calabasas has acquired Boston consulting firm Leapfrog Systems Inc. for up to $72 million.