San Fernando Valley Business Journal

L.A. Billionaire Joins Providence Health

Biotech entrepreneur Dr. Patrick Soon-Shiong, L.A.'s wealthiest man, will become the global director for cancer services and bioinformatics at Providence Health & Services, the hospital chain announced on Thursday.

Bank of America's Countrywide to Pay $1.3 Billion

The Countrywide Financial mortgage lender unit owned by Bank of America has been ordered to pay $1.3 billion in damages for selling thousands of defective loans.

Earnings: Superior, Ryland, PS Business Parks

Superior Industries reports lower income, Ryland misses on a one-time tax benefit and PS Business Park beats expectations.

Business Events Calendar

Business Events throughout the Valleys.

Superior Industries Closing Plant

Van Nuys aluminum wheel manufacturer Superior Industries announced Wednesday it would close its Arkansas plant – laying off 500 – as it prepares to open another in Mexico.

Amgen Shares Up, DreamWorks Down

Wall Street applauded Amgen Inc.'s plan to cut up to 2,900 jobs, while investors were once more disappointed in DreamWorks' earnings.

Princess Cruises Orders $800 Million Ship

Princess Cruises announced Wednesday it will add a third ship to its Royal Princess fleet, a 3,560-passenger vessel expected to set sail in 2017.

Briefs: Burbank Airport, Warner Bros.

SeaPort Airlines adds service to San Diego from Burbank. Warner Bros. creates Harry Potter unit.

Amgen Announces Big Layoffs

Amgen Inc. announced on Tuesday that it would cut up to 2,900 jobs, close plants and consolidate its offices at its sprawling Thousand Oaks headquarters complex.

'Dragon' Drags Down DreamWorks

Weak box office results for “How to Train Your Dragon 2” put a drag on DreamWorks Animation SKG Inc. second quarter earnings, which failed to match analysts’ expectations.

Disney Creates Asian Management Position

Walt Disney Co. on Tuesday announced the creation of an executive position to coordinate business efforts in Asia, a move that underscores the importance of the region to Disney’s growth strategy.

Briefs: DineEquity, Avery Dennison, Glendale Sale

DineEquity shares rise. Avery Dennison declares dividend. Glendale office building sold.

Marriott Warner Center Sold

The Marriott Warner Center, one of the Valley’s largest hotels, has been acquired by Laurus Corp., a Century City real estate investment and development company, the company announced on Monday.

Brazil Awards Ceres $39 Million

Energy crop developer Ceres Inc. will receive nearly $39 million in financing from the Brazilian government to expand its product development program, the company announced Monday.

Briefs: DreamWorks, MRV, Ryland

DreamWorks reconfigures its executive team, MRV Communications brings on a new board member, and Ryland opens a new housing development.

Valley Home Prices Hit Eight-Year High

Home prices in the San Fernando Valley hit an eight-year high in June, though the price gains appear to be leveling off as market activity slows, according to a report by the Southland Regional Association of Realtors.

Chatsworth Industrial Park Sells for $16.8 Million

A fully leased Chatsworth industrial property was acquired for $16.8 million by Rexford Industrial Realty Inc., the Los Angeles real estate investment trust announced on Friday.

Briefs: Avery, Amgen, Ryland, Teledyne

Avery Dennison misses expectations, Amgen and Ryland declare dividends, and Teledyne appoints new board member.

Metro Board Approves Light Rail Study

The board of the Los Angeles County Metropolitan Transportation Authority unanimously approved Thursday doing a feasibility study on converting the Orange Line busway into a light rail line.

FDA Agrees to Review Rival Neupogen Drug

The Food and Drug Administration accepted an application on Thursday by a rival drug maker to approve a copy-cat version of Neupogen, one of the biggest money-makers for Amgen Inc.

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