Stories for April 2008
Wednesday, April 30
Online service provider United Online has agreed to purchase global florist FTD Group Inc. In a deal worth $800 million.
New cars and light truck registrations in California declined by 18.6 percent in the first quarter.
On an 8-2 vote, the Federal Reserve lowered the federal funds rate by a quarter percentage point, to 2.0 percent, citing a high level of uncertainty about inflation.
Businesses may find themselves getting a bit of a break from the U.S. Postal Service come May 12.
Tuesday, April 29
North Hollywood-based physician group practice enters into agreements
Monday, April 28
Stylists with major retailers give the scoop on how they make television and film actors look good on screen
Panorama City businesses face relocation to make way for a new elementary school.
Pushing to fast-track its takeover of wounded home-loan goliath Countrywide Financial Corp., Bank of America Corp. will promise to help 265,000 troubled borrowers keep their homes over the next two years by refinancing or modifying at least $40 billion in
Lawyers, accountants have piece of the fashion pie
Employers Must Abide By State Wage-Hour Rules. Q & A; Column by Ira Rosenblatt
What Is Biotech Anyway? From Broad to Narrow, Industry Means Something Different to Each Scientist
Need for Products Seen As Driver. Biotech Funding Available But 101 Corridor Faces Challenges In Attracting Investor Interest
Preview on the American Association of Airport Executives general aviation conference at Van Nuys Airport in May.
A new reader-driven feature: photographs of Valley business people being feted, awarded, commended or just taking part in interesting regional events.
Stock activity for 50 selected greater San Fernando Valley-based public companies: Bi-Weekly Top Gainers, Losers; The Valley 50 Stock Index; 52-week Performance; Market Summary / Indexes
The government's economic stimulus program begins April 28, and William Pearson of Los Angeles is ready to receive his $600 tax rebate -- and hoard it.
Linda Coburn reports on new developments and transactions
Industry Raises Salary Averages. Housing Prices, Retail Sales Among Sectors That Get Boost From Amgen, Other Firms
Holy Cow! Filmmaker John Scheinfeld talks about his new project on the Chicago Cubs. Column by Mark Madler
Burbank university dresses the world in style with its Fashion Marketing degree program and their Fashion Design program
Pratt & Whitney Rocketdyne Partners in Cleanup. This regular feature focuses on philanthropic activities by Valley-area companies and businesspeople.
Court Ruling Gives Guidance On Workplace Retaliation Sue Ben David
Hospitality and residential interior design firm Creative Resource Associates has opened a state of the art facility in Woodland Hills.
Students Offered Research, Laboratory Experience for Industry-Related Careers
Remember Otto's Pink Pig and Busch Gardens in Van Nuys? Martin Cooper does.
Help From the Public Sector Seen as Crucial for Firms
Turning Misfortune into Opportunity. Creating a New Regional Life Sciences Industry
Although Their Cluster is Small, Local Companies Push to Have Greater Role in World of Biotech
Jerry Leigh, K-Swiss, Cherokee and Juicy Couture call the Valley home
Many can't find work with production down, and their bills are piling up. Some are facing foreclosure and bankruptcy.
New Life Sciences Ecosystem Developing as Commercialization Shifts From Large Companies to Smaller, More Efficient Startups
With biotech giant Amgen undergoing big changes in recent months that include hundreds of layoffs of scientists, the stage has been set for growth of the fledgling biotech industry along the so-called "101 Corridor" in the West San Fernando Valley and Con
Thursday, April 24
Net income for pharmaceutical manufacturer Amgen increased a sluggish 2 percent for the first quarter when compared to a year ago.
The Screen Actors Guild and major Hollywood studios have agreed to extend their contract talks another week in a sign that the two sides are making some, albeit limited, headway in their negotiations toward a new three-year agreement.
BlueFire Ethanol Fuels Inc. hired Brinderson to engineer and construct a biorefinery in Lancaster.
MAGNOLIA PARK , Ten years ago, Wayne Thornton never had a problem finding a parking spot near his store.
Inability to deliver product on time to its customers contributed to power conversion manufacturer Power-One Inc. posting a net loss for the first quarter.
MTA will weigh project to convert carpool lanes to congestion pricing, beginning with parts of the 10 and 210 freeways, but many obstacles remain.
Performance test systems manufacturer Ixia had a weak first quarter noted by a sales drop in Canadian and European markets.
Michael Brodsky has been named as the new president and CEO of online wagering firm Youbet.com.
Wednesday, April 23
The U.S. aerospace export balance soared to a record $60.4 billion in 2007, good news for the about 75,000 workers employed by the industry in Los Angeles County, an industry group reported.
The number rises to 47,171 in the first quarter, more than four times as many as a year earlier.
Teledyne Technologies Inc. restated its earnings guidance for the year due to anticipated growth in its defense-related business units.
Elected officials, business and community leaders and the public will join Kaiser Permanente to celebrate the opening of the new hospital in Panorama City.
The Alameda County Superior court has dismissed a temporary restraining order against the Service Employees International Union and its President Andy Stern obtained April 15 by the California Nurses Association.
A proposed expansion of the DreamWorks Animation campus on Flower Street in Glendale sailed through the Redevelopment Agency, paving the way for the studio to fulfill the majority of its remaining square footage allowed in a 1996 development agreement.
Tuesday, April 22
Electronic components manufacturer Inphi Corp. looks to acquire similar companies and take itself public in 2009.
Facing the largest deficit in Los Angeles history, Mayor Antonio Villaraigosa proposed a $7 billion budget that seeks to add more police and firefighters, but cuts deep into city spending and raises dozens of fees on everything from parking to golf.
With oil and gasoline touching all-time highs again April 21, raging energy-price fever showed no sign of breaking. Before it's over, oil could cost at least $125 a barrel and gasoline more than $4 a gallon in California.
The Air Force and Lockheed Martin are giving a secret retirement send-off to the world's first radar-evading fighter.
Monday, April 21
NEW YORK -- Bank of America Corp., the largest U.S. retail bank, said quarterly profit fell a larger-than-expected 77%, dragged down by more than $5 billion of write-downs and credit-related costs.
NEW YORK -- Retail gas prices hit another new milestone April 21, jumping to an average $3.50 a gallon at filling stations across the country. Crude oil prices, meanwhile, set new records of their own, spiking above $117 a barrel after an attack on a Japa
PALMDALE - Navdeep Jaggi already owns a small Palmdale cafe, but it was the launch of his second venture last month that fulfilled a lifelong dream.
The Service Employees International Union plans to file a motion to dismiss the temporary restraining order filed last week by the California Nurses Association against the organization and its president, Andy Stern, for harassment.
Friday, April 18
Venture West Funding of El Segundo, Calif. has arranged $24 million in refinancing for two owners of multi-family properties in Sherman Oaks, Chatsworth and Brentwood. Matt Douglas, principal of Venture West brokered the deals.
Pharmaceutical software firm Simulations Plus Inc. announced that GlaxoSmithKline has renewed its global multi-year license for Simulations Plus software and has added a new site at its Parsippany, N.J. location.
The world-famous HOLLYWOOD sign that has been used by TV and movie directors in more scene-setting shots than a film student could ever count was first erected in 1923 to promote real estate in the fledgling capital of celluloid.
NEW YORK -- AT & T; Inc. on Friday said it plans to cut about 4,600 jobs, or 1.5 percent of its work force, to shift resources to growing parts of its business.
Pasadena-based East West Bancorp Inc. has seen its share price fall to its lowest point in the past year, to $13.97, in the two days following the company's announcement that first-quarter profits were 88 percent lower than the previous quarter.
Brewers are forced to pass along higher costs for their main ingredients.
Thursday, April 17
Office vacancy rates rose 11.7% for the first quarter in the San Fernando Valley and Ventura County markets, the third consecutive quarter of negative net absorption, according to the Colliers International Market Report.
NEW YORK -- Retail gas prices pushed past a record high $3.40 a gallon, fulfilling expectations that they'll keep climbing toward $4 as the summer driving season approaches.
Walt Disney Studios Home Entertainment and four other Valley region companies are among the founders of a new consortium to bring affordable 3D entertainment to the home.
The state's largest for-profit health insurer, Anthem Blue Cross, was accused of a widespread pattern of false advertising and fraud in a $1-billion lawsuit that claims that the company's coverage "is largely illusory."
Wednesday, April 16
A federal court in Texas issued a permanent injunction to enforce a jury verdict in an infringement case involving Power-One Inc.
An abandoned theater under renovation in the San Fernando Valley suburb is seen as a centerpiece of the area's renewal.
WASHINGTON -- Consumer prices pushed higher last month as increases in energy, food and airline tickets overwhelmed the biggest drop in clothing prices in nearly a decade.
WASHINGTON -- Soaring food and fuel costs caused wholesale prices to rise much faster than expected last month, raising the possibility of more sticker shock for consumers and more inflationary pressure for the nation's economy.
Recycling firm Looney Bins has been acquired by Waste Management, one of the largest waste haulers in the country.
A state Senate committee gave its approval to a bill streamlining the process to approve mergers between phone companies.
A new area code for the San Fernando Valley goes before the California Public Utilities Commission next week for approval.
A hearing takes place next month in which North American Scientific Inc. will appeal The NASDAQ Stock Market's decision to de-list the company.
Brand management company Cherokee Inc. reported financial results for the fourth quarter and fiscal year ended Feb. 2.
CHATSWORTH - A popular San Fernando Valley park closed since Valentine's Day will remain fenced off indefinitely after the discovery of more lead in the soil near playgrounds and picnic areas, according to a report obtained by the Daily News.
Tuesday, April 15
Sue Carleo, a senior vice chancellor with the Los Angeles Community College District, has been named as the acting president of Los Angeles Valley College.
Satellite space re-reseller The Spaceconnection has agreed to acquire the occasional use satellite space segment business of 5DTV.
Food chain Baja Fresh Mexican Grill announced April 15 that its future immediate franchise growth would focus on New York City, Boston and Atlanta.
Monday, April 14
Prepare yourself. Tax rebates intended to jolt recession-wary consumers into spending won't start arriving in mailboxes until next month, but tax-rebate advertising has begun. And retailers are only warming up.
A Burbank elementary school gets a makeover thanks to a credit union's volunteer program
A State Senate bill to streamline telecom mergers is going to a vote.
The UCC supports the Colombia Free Trade Agreement.
People with a stake in the hospitality and tourism business get together to discuss the future of the industry in the Valley.
Stock activity for 50 selected greater San Fernando Valley-based public companies: Bi-Weekly Top Gainers, Losers; The Valley 50 Stock Index; 52-week Performance; Market Summary / Indexes
The hospitality and tourism industry is one of the bright spots in the Valley economy.
A new editor will be starting at the Daily News.
The Valley Convention and Visitors Bureau position never became a full-time one.
DALLAS -- Blockbuster Inc. said today that it would take an unsolicited $1 billion-plus bid for Circuit City Stores Inc. directly to shareholders of the nation's second biggest consumer electronics chain, saying the struggling retailer has not responded t
New developments are on hold due to a water crisis.
Air charter operators join up with Virgin brokering service.
Jason Schaff muses on the future and marketing of Valley tourism
Part of the Tejon Industrial Complex is now a foreign trade zone.
City of San Fernando plans to boost tourism with the renovation of an historic property.
Encino Chamber Gives its 'Teacher of the Year' Award
James Hames reports on new developments and transactions.
ValueClick Inc. marks its 10th anniversary as one of the largest online marketing firms in the world.
Last week in Sacramento, the Senate Health Committee sent a message that ought to be heard loud and clear by at least two businesses here in the San Fernando Valley: Be a good neighbor - or pay the price.
Friday, April 11
Delays in purchasing decisions by its customers contributed to Ixia lowering it guidance for the first quarter.
American Airlines canceled nearly 600 more flights across the U.S. today as part of its MD-80 jet fleet remains grounded for maintenance checks.
U.S. retail sales were disappointing in March -- and people probably aren't changing their spending habits this month.
California utility customers will foot the bill for a $600-million global-warming think tank under a Public Utilities Commission program that critics say is a costly and questionable departure from the agency's mission to make sure ratepayers get affordab
Thursday, April 10
WASHINGTON -- -- With the Senate poised to take new action on the mortgage crisis and the House at work on far more sweeping proposals, the Bush White House is grudgingly giving ground on its ideological opposition to government intervention in the market
Programming from Image Entertainment Inc. will be shown for in-flight movies and on merchant sea vessels after inking a deal with Jaguar Distribution Corp.
With the zeal of a young entrepreneur, 82-year-old Los Angeles billionaire and philanthropist Alfred Mann has bet nearly half of his estimated $2.2-billion fortune that he can develop an inhaled version of insulin for the nation's 5 million diabetics.
An inability to deliver orders on time led power conversion product manufacturer Power-One Inc. to downgrade its expectations for the first quarter.
North American Scientific Inc. has received notice from The NASDAQ Stock Market that it has failed to regain compliance due to shares falling below $1.
The California Motor Car Dealers Association has changed its name to the California New Car Dealers Association.
Capstone Turbine Corp. received a $2 million order for its microturbine energy systems for distribution in South Korea.
American Airlines canceled more than 900 flights today to fix faulty wiring in hundreds of jets, marking the third straight day of mass groundings as company executives offered profuse apologies and travel vouchers to calm angry customers.
Wednesday, April 9
CHICAGO -- The Boeing Co. delayed its 787 jetliner program again Tuesday, pushing back its expected debut in commercial service to the third quarter of 2009 as it continues to grapple with problems involving its supply chain and the need to redo some outs
Automotive mobile marketing company Gumiyo will partner with HomeNet Inc. to equip auto dealers with a single-click mobile Web marketing solution.
A bill that would require peace officers aboard cruise ships sailing from California ports cleared its first hurdle Tuesday as the state Senate's public safety committee voted to move it forward in the legislative process.
When veteran Los Angeles news anchors Harold Greene and Ann Martin were felled by a round of jobs cuts last week, they were in good company.
QPC Lasers Inc. received its third new patent this year and its ninth overall related to design and manufacturer of semiconductor lasers.
Tuesday, April 8
Image Entertainment went to court in a contract dispute with Relativity Media over providing films for Image to distribute for the DVD market.
The number of major business expansions in Southern California during 2007 declined by 17.5 percent as a result of the sagging economy and industrial and office markets, according to a report released today by the Los Angeles County Economic Development C
Lakeside Systems Inc. and Providence Health & Services California Region today announced a significant multi-million dollar equity investment by Providence in Lakeside, giving the company a minority position in Lakeside.
Retail gasoline prices surged to new highs in California and nationally over the last week, the Energy Department said.
NEW YORK -- Washington Mutual Inc, the largest U.S. savings and loan, said today it received a $7 billion capital injection from private equity firm TPG Inc and other investors.
DTS Inc. sold its digital images business for $7.5 million to Reliance Big Entertainment Ltd.
Monday, April 7
Washington Mutual Inc., the largest U.S. savings and loan, rallied as much as 18% in New York trading as a group led by private-equity firm TPG Inc. considers a $5 billion investment in the Seattle-based company.
Disney Interactive Studios added to its global growth plans with the acquisition of a Chinese-based video game software developer.
The executive editor of a northern California newspaper has been named as the new editor of the Daily News.
The nation's air travelers may be wondering whether last week's three airline shutdowns signal more trouble ahead. But a bigger concern this spring may be the likelihood of more flight delays, jammed planes and even higher ticket prices.
Joint replacement system distributor Medacta USA Inc. announced that the first hip replacement procedures in the U.S. featuring its muscle-sparing AMIS technique have been performed.
An increase in international sales contributed to electronic equipment rental company Electro Rent Corp. reporting a net income for the third quarter.
Discount air carrier Skybus Airlines shut down its operations April 5, including service at Bob Hope Airport in Burbank.
Friday, April 4
Virtual communications technology company Fix8 received $2 million in funding from a Korean wireless company.
Diodes Inc. added to its product line with the acquisition of Zetex, a British-based semiconductor manufacturer.
A federal judge has approved an investigation into Countrywide Financial by bankruptcy investigators, the Wall Street Journal reported.
When Final Four action begins Saturday, fans who want to watch the games live online will have to head to CBSSports .com, which owns exclusive online rights to the NCAA men's basketball tournament.
unemployment rate rose past 5% last month and the economy lost more jobs than expected, the Labor Department reported today, deepening the growing consensus among economists that the country is in a recession.
A new editor for the Daily News will be named on April 7 following the departure of Ron Kaye from the position.
The Glendale Planning Commission gave its approval for DreamWorks Animation for an expansion project at its Flower Street campus.
Thursday, April 3
NEW YORK -- NBC got a jump start on its competitors Wednesday, unveiling a 2008-09 prime-time lineup that leans heavily on heroic tropes and classic tales of adventure.
WASHINGTON -- The number of new people signing up for unemployment benefits last week shot up to the highest level in more than two years, fresh evidence of the damage to a national economy clobbered by housing, credit and financial crises.
For kids -- and parents too -- it may be the ultimate play land: a 10-square-mile, $64-billion zone with amusement parks by Six Flags, DreamWorks Animation and Universal Studios, plus museums, shopping and 55 hotels.
Wednesday, April 2
PALMDALE - Northrop Grumman Corp. has begun assembling the first F-35 Lightning II jet, marking the transition from demonstration to production of the Joint Strike Fighter, the defense giant announced.
Video game publisher THQ Inc. expanded its casual gaming portfolio with the acquisition of Elephant Entertainment.
Saturn Fasteners Inc. in Burbank has been acquired by Acument Global Technologies as part of that company's growth in supplying aerospace customers.
The San Fernando Valley has become the headquarters for the new business unit of wireless phone manufacturer Kyocera Corp.
WASHINGTON -- Under pressure to help Main Street after the government saved a Wall Street firm from bankruptcy, senators ended weeks of partisan stalemate Tuesday and agreed to try to quickly pass legislation that could help some homeowners avoid foreclos
NEW YORK -- U.S. factory activity contracted again in March while prices paid by manufacturers rose to their highest levels in more than two years, data showed, suggesting higher inflation in a stagnating economy.
Tuesday, April 1
The alley behind the theater erupted into shrieks Wed- nesday night after band members stepped out of the stage door and walked to their cars. A crush of girls pressed up against the razor-wire fence; some lobbed roses and stuffed animals over the barrier
David Borshell has been named as new president of Image Entertainment Inc. following the resignation of Martin Greenwald.
An April Fool's Day prank from Nestle USA had the company announcing it was changing the name of its popular Butterfinger candy bar to simply The Finger.
NEW YORK -- Stock prices began the second quarter with an impressive pop April 1, as capital-raising plans by two beleaguered investment banks raised hopes that Wall Street is nearing the end of its steep mortgage-related losses.
Gov. Arnold Schwarzenegger today announced that California's small and disabled veteran businesses are registered at record-breaking numbers to compete for the state's more than $9 billion a year in contracts.