Stories for January 2008

Thursday, January 31

Acquisition Proves Helpful to Oplink

Oplink Communications Inc. made $26.1 million this month by selling the Woodland Hills building of its subsidiary Optical Communications Products Inc.

Oxygen Business Sale Approved

The shareholders of CHAD Therapeutics Inc. have approved a proposed $5.25 million sale of the company's oxygen conserving business to Inovo Inc.

Teledyne Adds to Marine Offerings

Teledyne Technologies Inc. expanded its marine instrumentation operations with the acquisition of an English-based manufacturer of sensing and navigation systems.

Holy Cross Recognized for Clinical Excellence

Providence Holy Cross Medical Center has received the HealthGrades Distinguished Hospital for Clinical Excellence Award for the third consecutive year.

Wednesday, January 30

Giuliani Drops Out of Race at Reagan Library

Shortly before the Republican presidential candidates participated in a debate at the Reagan Presidential Library in Simi Valley, former New York City Mayor Rudy Giuliani announced that he is aborting his presidential campaign and is now backing Arizona S

Publisher Offers Education Sales Magazine

A new magazine and website for education suppliers and vendors will launch in June from 1105 Media Inc.

Gumiyo Goes Mobile With History Reports

Gumiyo has announced that it will be the first company to deliver Carfax vehicle history reports on mobile devices for automotive listings.

Tuesday, January 29

Agencies Take Action Against PacifiCare

Alleged mishandling of more than 130,000 claims by insurance provider PacifiCare led to a joint action by the California Department of Insurance and the California Department of Managed Health Care.

New Business Federation Formed

The formation of the Los Angeles County Business Federation was announced at a press conference this morning at the Los Angeles Hall of Administration.

Strike Talks Move Ahead

Informal negotiations continue between striking film and television writers and the major Hollywood studios.

House Approves Stimulus Package

The House passed a $146 billion aid package that includes rebates for taxpayers and incentives for businesses.

Monday, January 28

Image, BTP Quarrel Escalates

The war of words between Image Entertainment Inc. and BTP Acquisition Co. LLC has escalated, reducing the chances of closing the proposed merger agreement between the two.

Playmates Going Mobile

THQ Wireless Inc. will distribute mobile games based on the Playboy brand, the company announced.

LAUSD Adopts Stricter Pollution Standards

The Los Angeles Unified School District Board of Education has decided to adopt a more stringent standard than required by California law for building new schools near sources of airborne pollution.

Friday, January 25

Dole Using Bio-Diesel In Farm Equipment

Dole Fresh Vegetables Company, a division of Dole Food Company Inc. in Westlake Village, has converted all of its harvesting equipment in Salinas and in Yuma, Ariz., to B20 Bio-diesel fuel.

Image Merger on Hold

The planned merger of Image Entertainment Inc. with a private investment firm appears in jeopardy after both sides accused each other of breaching their contract.

Strike Not Hurting Production Numbers - Yet

The ongoing television and film writers strike had little impact on the year-end on-location production numbers released by FilmLA.

Thursday, January 24

Rocket Passes Initial Tests

Pratt & Whitney Rocketdyne successfully tested the rocket engine slated for use on the new Ares launch vehicles.

Stimulus Plan Includes Tax Cuts for Businesses

Half the amount of purchases of capital equipment by businesses can be written off as part of a tentative economic stimulus plan worked out by federal lawmakers.

Teledyne Profits Up in Fiscal '07

Electronics components and aerospace engine manufacturer Teledyne Technologies Inc. finished its fiscal year with a 22 percent increase in net profits.

Wednesday, January 23

THQ Forecasts Lower Sales for Q4

Video game publisher THQ Inc. expects a nearly 17 percent decrease in sales for the fourth quarter due to one cancelled game title and lowered expectations for several other games.

Writers, Studios Meet for Informal Talks

Officials from the Writers Guild of America and the major Hollywood studios have met to discuss returning to negotiations for a new contract and an end to the 3-month television and film writers strike.

Tri-anim to Distribute with Parker Medical

Tri-anim has paired up with Parker Medical to sell and distribute Parker's tracheal tubes and associated products.

Kohn Elected FilmLA Board Chairman

San Fernando Valley accountant Mel Kohn was elected as the new chairman of the board of directors of FilmLA, the not for profit agency that coordinates the permitting process for on-location filming.

Cancer Therapy Benefits From Stock Sale

The selling of $15.5 million in shares to three investment firms allows North American Scientific Inc. to continue development of a breast cancer treatment device.

Tuesday, January 22

Physician Group Sues Calif.-Based Restaurant Operators

The Physicians Committee for Responsible Medicine has filed a lawsuit against seven of the nation's largest restaurant chains operating in California, according to the Nation's Restaurant News.

Monday, January 21

NEWSMAKERS

Valley Businesspeople in the news, on the move...

VCEDA Gets State Budget Insights at 59th Celebration

VCEDA Gets State Budget Insights at 59th Celebration

It's All In The Name

Patti Knowles finds fun ways for people to send out invitations

A Way to Shelter Yourself from the 2008 Perfect Storm

A Way to Shelter Yourself from the 2008 Perfect Storm. By Bruce M. Weide, author of "Getting Rid of Taxes in Business and Retirement

Auto Industry in Dire Straits, Emissions Caps Not Helping

New hotel projects may give a boost to downtown Glendale.

VALLEY STOCK WATCH

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

Mass Space Relocation Not Foreseen

Countrywide Financial acquired by Bank of America in $4 billion deal.

New NASA Program Lands

NASA leases hangar space in Palmdale for five scientific aircraft.

Adult Businesses Face Retail Strategy Changes

When it comes to mainstream retail outlets the adult entertainment industry is getting hit from all sides.

Aerospace Career Library is Taking Off

Aerospace Career Library is Taking Off. A look at the people, places and things that make our valleys tick.

Hi Ho Silver, Away!

Q & A; Reporter Mark R. Madler interviews Russ Dueber of battery maker ZPower Inc.

Glendale Hotel Proposals Surge, Corridor Pondered

New hotel projects may give a boost to downtown Glendale.

NoHo Fire Won't Douse Area's Growth

NoHo Arts District survives fire at new restaurant and club.

Settling for Less Than Utopia

Settling for Less Than Utopia. Guest columnist Martin Cooper gazes into his crystal ball.

Hospital or Hotel Room? Healthcare Gets a Makeover

Designs of hospital rooms are changing to look less clinical.

Is Valley Impervious or Oblivious?

Is Valley Impervious or Oblivious? Commentary by Jason Schaff, Editor of the Business Journal

Visual Effects Members Use Online Voting for Awards

Visual effects artists can go online and vote for winners in VES Awards ceremony

DGA Gets a Deal, Writers Waiting

Developments are moving fast in the ongoing writers strike...

Local Lawyer Makes Good

Lee Alpert has been named to the L.A. Department of Water and Power Board.

VALLEY, L.A. COUNTY ECONOWATCH

Charts of Economic Indicators, Real Estate, Tourism...

Precision Signs Onto Partnership

Precision Dynamics Corp. will supply healthcare facilities with automated identification and patient safety products through a partnership with Identification Systems Group.

Strike Impact on Santa Clarita Not Quantifiable Yet

Latest developments in the film and television writers strike.

Fourth Generation of Smiths Now at Helm of BMW/Mini

FAMILY BUSINESS - Fallout of state trying to impose emissions limits on auto makers.

Friday, January 18

Transonic Receives Addition Investment

Fuel injection system manufacturer Transonic Combustion received addition funding from a private equity firm.

Youbet Leaves Broadcast Business

Youbet.com Inc. sold its production company subsidiary less than a year after launching a horse race handicapping series.

Thursday, January 17

Capstone Signs New Deal in China

Capstone Turbine Corp. signed a new agreement to distribute its microturbine energy systems for the oil and gas sectors in China.

Directors Reach Deal with Studios

The Directors Guild of America reached a tentative three-year deal with the major Hollywood studios, raising hopes that a similar agreement can be made with striking film and television writers.

Wednesday, January 16

Ex-Homestore CEO Gets New Trial

A federal appeals court tossed out the fraud conviction and prison sentence of the former chief executive of an online real estate information site based in Westlake Village.

Warner Bros. Layoffs Fewer Than Speculated

Warner Bros. Studios laid off about three dozen employees this week as a result of the ongoing strike by television and film writers.

Tuesday, January 15

Big Huge Deal for THQ

Video game publisher THQ Inc. expanded its development capabilities with the acquisition of a company creating role-playing-games.

NTI Group Acquired For $182 Million

Messaging and notification provider NTI Group Inc. has been acquired by a software and services firm in a deal worth $182 million.

Studios Cancel Writers Contracts

Warner Bros. and NBC Universal were among the studios canceling contracts with writers, a sign that the continuing strike jeopardizes future new programming.

Monday, January 14

Warner Bros. Enters Marketing Partnership

Exclusive content from Warner Bros. Entertainment Inc. will be available in movie theaters following a deal with National CineMedia, operator of a digital in-theater network.

Software Firm Reports Big Jump in Income

A large order of its pharmaceutical software helped give a boost in the first quarter net income for Simulations Plus Inc.

Northrop Receives Asian Airline Order

Northrop Grumman Corp. will supply the component providing attitude, airspeed, and altitude for new aircraft used by SilkAir, the Singapore Airlines-owned regional carrier.

Friday, January 11

Still No Cause for Fatal Plane Crash

A year after a plane crash took the life of the owner of Sun Quest Executive Air Charter, a final cause for the incident still has not been determined.

Directors Call 'Action' on Contract Talks

The Directors Guild of America and the Alliance of Motion Picture and Television Producers will begin talks on a new contract Jan. 12.

Countrywide Acquired for $4 Billion

Struggling mortgage provider Countrywide Financial Corp. has been acquired by Bank of America in a deal worth $4 billion.

Thursday, January 10

Countrywide Target of Buy Out

Calabasas-base Countrywide Financial Corp. was the subject to rumors of a takeover by Bank of America Corp., which invested $2 billion in the struggling lender last August.

CBS News Writers Reach Contract Deal

A tentative contract was reached between CBS news writers and the network, media reports announced.

Vitesse Stock Options Suit Nears End

Vitesse Semiconductor Corp. received preliminary approval to settle lawsuits stemming from allegations of stock option backdating and accounting manipulations.

Schwarzenegger Submits $141 Billion Budget

Gov. Arnold Schwarzenegger called for a special session of the legislature to deal with the state's $3.3 billion budget gap.

Wednesday, January 9

Warner Bros. Issues Layoff Warnings

Warner Bros. Entertainment may lay off up to 1,000 employees as a result of the ongoing strike by television and film writers.

Tuesday, January 8

Amgen Adjusts Earnings Share

Amgen expects no negative affects on its earnings per share for 2007 from issues related to reimbursements of its anemia drugs, company Chairman and Chief Executive Officer Kevin Sharer told investors.

Monday, January 7

Ivy Charter Funds at Risk, LAUSD Stalls Approval

Ivy Charter may lose funds that would help it get a permanent site due to LAUSD stalling.

NEWSMAKERS

Valley Businesspeople in the news, on the move...

Survey Says . . . 2008 Should Be Great

A Business Journal survey finds local business people are more optimistic than forecasts would suggest.

New Capstone Microturbine a Sell Out

Capstone Turbine Corp. sold out its 2008 production run of it new 200 kilowatt microturbines, the company announced.

VALLEY STOCK WATCH

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

On Second Thought, Let's Look Ahead

He's baaack Editor Jason Schaff describes his change of heart and his plans for the Business Journal.

Forecasts Avoid The 'R'-Word

Local economists identify trouble areas and bright spots for the coming year.

CareNow Gets AIDS Supplies Where Most Needed

A former Amgen executive started a charitable foundation to deliver AIDS supplies to rural African clinics.

Despite Mortgage Turbulence, Overall Values Persist

Guest columnist Mel Wilson opines on the state of residential real estate.

VALLEY, L.A. COUNTY ECONOWATCH

Charts of Economic Indicators, Real Estate, Tourism...

They Are The Egg Men

The guys at Eggology have embraced the puns and they're laughing all the way to the bank.

Scholarships, Mixer, State of the Community

What's happened and what's happening at the chambers of commerce around town.

Can Eco-Marketing Launch Las Lomas Project?

Palmer Investments tries an eco-marketing approach to gain favor for a controversial community development.

Providence Saint Joseph's New Executive, Barry Wolfman

Reporter Nadra Kareem interviews the new CEO of Providence Saint Joseph Medical Center on his first official day on the job.

Lockheed Nonprofit Puts Choice in Workers' Hands

Lockheed Federal Credit Union creates a 501(c)(3) so employees can more easily donate to local charities.

What Else Is New?

Highlights of legislation that go into effect this year.

All Sales Final

A Valley shopping destination closed its doors for good to make way for condominiums.

AROUND THE VALLEYS

A look at the people, places and things that make our valleys tick.

Jewish Home Addresses Dearth of Nurses Thanks to Annenberg Funds

The Jewish Home for the Aging Annenberg Nursing School is helping fill a desperate need.

Gas Guzzlers Can Fuel Healthcare

Guest columnist Greg Lippe provides an alternate way to fund the Schwarzenegger/Nunez health care plan.

Fire Damages New NoHo Club

A fire broke out in a new restaurant and nightclub in North Hollywood on Monday morning, injuring three firefighters and a civilian.

Film Marketing Firm Embraces 360 Degree Thinking

Reporter Mark Madler goes inside CMP's acquisition of Deadline

Minimum Wage Hike to $8 Makes It Nation's Highest

Minimum Wage Hike to $8 Makes It Nation's Highest

Friday, January 4

Warner Bros. Sides With Blu-ray

Warner Bros. Entertainment got off the fence in the DVD format war and has sided with the Blu-ray disc.

Semtech Reaches Top Tier of NASDAQ

Semiconductor manufacturer Semtech Corp. was added to the highest tier of the NASDAQ Stock Market.

Dole Goes Fair Trade in Colombia

Westlake Village-based Dole Food Company announced that Dole Fresh Flowers has received the Florverde Certification at its farm operations in Colombia.

Thursday, January 3

Hallmark Channel Cuts Back on Faith Programs

Faith-based programming on the Hallmark Channel has been reduced to two hours once a week following a settlement between the channel's owner and the National Interfaith Cable Coalition.

Ford Trails Toyota in U.S. Sales for First Time

In 2007, Toyota Motor Corp became the No. 2 selling automaker in the U.S. sales, edging out Ford, the Associated Press reported.

Wednesday, January 2

Teledyne Subsidiaries Make Acquisitions

Subsidiaries of Teledyne Technologies Inc. made acquisitions of companies making interconnect products.

Writers Picket Leno Show

Striking writers from the Writers Guild of America picketed outside NBC Studios in Burbank as tapings resumed for "The Tonight Show with Jay Leno."

State Sues EPA Over Greenhouse Gas Regulations

California filed a lawsuit in the 9th U.S. Circuit Court of Appeals in San Francisco today against the U.S. Environmental Protection Agency following the latter's Dec. 19 denial of the state's request to impose greenhouse gas limits on automobiles.

Manufacturing Software Maker in Merger Deal

Gibbs System Inc. becomes part of a new U.S. subsidiary of a manufacturing software developer following its merger with Cimatron Limited.