Stories for July 2009
Friday, July 31
Joy McCaslin to Replace Robert Garber who is retiring August 1.
Wednesday, July 29
NORTHEAST GLENDALE , Glendale Community College officials are gearing up to offer a new training program in green technology education after receiving a $100,000 state grant to develop an online curriculum.
Reporting from Sacramento -- Gov. Arnold Schwarzenegger on Tuesday signed a budget plan sent to him by lawmakers to close the state's monumental deficit, using his veto pen to impose nearly $500 million in additional cuts.
Palmdale officials are considering rewriting the rules under which the city government operates.
CITY HALL , A proposed completion of the 710 Freeway is the wrong solution for the region's traffic issues, City Council members said Tuesday.
The approved State Budget has left the already strained City of San Fernando facing revenue losses of approximately $2.9 million, directly impacting the City's General Fund and Redevelopment Agency's revitalization efforts in six project areas.
WASHINGTON , The financial aid office at CSU Channel Islands is moving forward on switching student loan providers, but uncertainty remains about whether the change from private to government-controlled lending will be seamless.
Blue described the governor's cuts, the mood and some of the language as local healthcare leaders assessed the impact of a state budget that seriously wounds programs for low-income insurance, AIDS prevention, senior care and community clinics.
Agoura Hills-based video game publisher, THQ Inc., posted a profit for the first fiscal quarter ended June 30, 2009, a marked turnaround from a $27.2 million loss for the same period last year.
Tuesday, July 28
Patients in hospitals throughout the San Fernando and Santa Clarita Valleys will benefit from what is gearing up to be the largest blood drive in Burbank.
Woodland Hills-based CrowdGather acquired two Internet properties: webmaster and forum owner community AdminFusion (www.adminfusion.com) and Michael Jackson fan-site MJHQ (www.mjhq.com).
Monday, July 27
It would limit the irrigation of landscaped areas in Burbank to three days a week.
WASHINGTON -- New U.S. home sales rose by the largest amount in more than eight years last month, in another sign the housing market is finally bouncing back from the worst downturn in decades.
An arbitrator has sided with video game publisher THQ Inc. in its dispute with JAKKS Pacific Inc. over royalties from WWE video games.
PALMDALE - Directors of the Palmdale Water District expect to discuss existing and potential lawsuits during the closed session portion of a special meeting today.
Friday, July 24
The Westlake Village City Council voted unanimously Wednesday night to extend the city's temporary moratorium on marijuana distribution facilities.
A weakening demand for power conversion products contributed to Power-One Inc. posting a net loss for the second quarter.
For the second quarter in a row, new vehicle sales in California fell below 250,000, according to the California New Car Dealers Association.
Thursday, July 23
On-location television filming posted the least amount of reduction in the first six months when compared to a year ago, according to statistics released by FilmL.A.
A weakening demand for power conversion products contributed to Power-One Inc. posting a net loss for the second quarter.
Accountants, largely spared from the waves of layoffs that have hit other professionals such as lawyers, expressed a high level of loyalty to the companies for which they currently work, according to a recent survey.
WASHINGTON -- Signaling a housing recovery is under way in much of the country, sales of previously occupied homes rose for the third month in a row in June.
In 1999 and 2002, respectively, the California Legislature passed (and Governor Davis signed into law) Senate Bills 400 (SB 400) and 183 (SB 183) placing a burden on the state's financial condition that would (except in years of unusually high revenue gro
Wednesday, July 22
PALMDALE - The city may be forced to cut more programs and possibly lay off more employees if California's Legislature adopts the state budget scheduled for a vote Thursday.
If the budget deal reached in Sacramento on Monday is more than smoke and mirrors, California should soon be able to stop issuing IOUs and turn back to Wall Street for short-term financing.
New rules governing filming permits were unanimously approved by the Thousand Oaks City Council Tuesday evening.
The U.S. economy could be nearing its bottom this summer, but economists predict unemployment rates could continue to rise in California and Los Angeles County well into 2010.
Tuesday, July 21
Camera system manufacturer Panavision Inc. will consolidate its two facilities into a single site in Burbank.
The Senate voted to cut funding for the F-22 Raptor fighter jet, a victory for efforts by President Barack Obama to reduce military spending.
LANCASTER - They are still only pictures, but city planners say sketches of a refurbished downtown are a reason for excitement, not only for business owners, but residents of the Antelope Valley and beyond.
The Simi Valley City Council rejected processing an application Monday night that would have brought twice as many homes than are currently allowed on the corner of Avenida Simi and Reservoir Drive.
The home builder had sold its controlling interest in the project to CalPERS in 2007. The giant pension fund loses its nearly $1-billion stake.
Global biotechnology firm Amgen awarded research scholarships to more than 260 students nationwide, including three from the San Fernando and Conejo valleys.
Monday, July 20
Kohl's Announces Two Valley Openings at Shuttered Mervyn's Locations
Providence Health Systems hires its first Chief Medical Information Officer, a position that will take greater importance as technology improves at hospitals.
Big banks under-performing when it comes to helping homeowners modify mortgages
NEW YORK -- More plans to build homes, higher stock prices and fewer people filing first-time claims jobless aid sent a private-sector forecast of U.S. economic activity higher than expected in June.
UnitedHealthcare will acquire Health Net's licensed subsidiaries in the Northeast less than a week after the insurer lost a lucrative military contract with the U.S. Department of Defense's TRICARE program.
Investigation by FTC Results in Fraud Case Against Van Nuys Co.
Pharmaceutical software developer Simulations Plus had a drop in its net income for the third quarter when compared with a year ago.
July 20 marks 40th anniversary of the first moon landing. There's a big Valley connection
Home entertainment programming distributor, Image Entertainment, faces increased debts and slow sales.
Banking professionals share insights about lessons being learned in the down economy
Battery manufacturer applies for stimulus funds for new plant in Palmdale
Business Incubator to Open At Santa Clarita Company. Local Entrepreneur Wants to Help Others Reach Success
Patricia Gracia of PowerMedia Group is starting a support center for women business owners.
Gail Lara is helping women entrepreneurs launch their own business, by providing support and online products and services.
Glendale Adventist is offering PCs to patients so they can communicate with family, friends.
Jason Schaff's open letter to legislators and governor
Catching the local business issues that fall through the cracks
Local bankers talk about the perks and pitfalls of the Troubled Asset Relief Program
Federal Accounting Standards Board Chief Robert Herz said Congress pressured his organization to soften rules at the behest of AIG.
Q2 market update, and multi-family and industrial deals
Van Nuys Airport advisory council urges cooperation between L.A. and Burbank over noise issues
SBA loans down, but alternatives exist for business financing
Michael Jackson's death and the ensuing media frenzy in Valley
It wasn't a day at the beach that occupied Karen Troop's hot Saturday, but the Simi Valley Realtor probably had more fun working in the warehouse sorting goods for a new thrift store than if she'd hit the waves.
Michael Hoefflin Foundation and Economic Development Committee in Santa Clarita creating an "Amazing Race"
Rasha Drachkovitch of reality program production company 44 Blue Productions in Studio City.
Thursday, July 16
The increase to $265,000 reflects a recent trend of higher-priced properties taking a greater market share. Sales volume reaches a 30-month high.
Rite Aid Corp. today is opening its first Ventura County drug store featuring the company's prototype "Customer World" design in Port Hueneme.
PALMDALE - Mayor Jim Ledford encouraged business owners to be optimistic despite economic conditions that forced the city this year to eliminate public events, decrease services, increase fees and lay off workers.
Wednesday, July 15
The Valley Economic Alliance has created the new "Economic Engine" Award to recognize exceptional Valley-based businesses that have contributed significantly to the regional economy,
Recreational vehicle and commercial truck drivers will face tighter street parking restrictions in Thousand Oaks next year, following a decision by the City Council at its meeting Tuesday night.
WASHINGTON -- Consumer prices shot up in June by the largest amount in 11 months, reflecting the biggest jump in gasoline prices in nearly five years.
Tuesday, July 14
WASHINGTON -- Higher energy prices rippled through the economy in June, helping to drive a bigger-than-expected gain in retail sales.
The Crown Media Holdings Inc. board of directors has hired Morgan Stanley & Co. as its independent financial advisor to review an offer to recapitalize the company's debt.
TVN Entertainment completed a merger with Avail Media to create one of the largest independent distributors of on-demand programming.
PALMDALE - Saying they need to protect city finances from future raids by state lawmakers, city officials have taken the first steps toward adopting a city charter, which lets the city set its own municipal operating procedures rather than following state
Citing the economic downturn, the developer of The Collection at RiverPark in Oxnard has pushed back the opening of the 600,000 square-foot retail center to late 2010.
Monday, July 13
An annual outreach effort intended to assist the 30,000 farmworkers who labor in the fields of Ventura County drew 400 to 500 people to an outdoor event near the Employment Development Department offices in Oxnard on Sunday afternoon.
Mica-Tech Inc. will apply for a $2 million federal grant to develop a next generation satellite-based control systems for electric utility substations.
Reporting from New York -- With corporate earnings season set to hit full stride this week, the stock market will be paying far more attention to what companies say about the quarters ahead than to the one that just ended.
Friday, July 10
Banco BuenaVentura, an Oxnard bank in its first year of operation, has been sued for not paying rent and the two buildings it leases are now up for sale.
National Technical Systems Inc. will repurchase up to 200,000 shares of its common stock through its available cash resources.
Bank of America and other big institutions plan to enforce a cutoff, making it harder to cash vouchers. To protect IOU holders from third-party speculators, the SEC defines the vouchers as securities.
The California budget crisis is having a deep and widespread impact on education.
The Antelope Valley Board of Trade installed its new officers and directors at a dinner taking place at the Cascades in Palmdale.
Officials hope sales like the airline's recent promotion bring a boost to Bob Hope Airport.
Thursday, July 9
NEW YORK -- Escalating job worries and rainy weather dampened shoppers' appetite for buying summer staples like shorts and dresses, resulting in sharper-than-expected sales declines for many merchants in June and increasing concerns about the back-to-scho
Quallion LLC will receive financial help from the state and the City of Palmdale to build a new lithium ion battery manufacturing plant in the Antelope Valley.
Palmdale: Bill spike fight not over, injunction still pursued
CITY HALL , Redevelopment Agency members got their first look Tuesday at a TV commercial for the city's ambitious $150,000 effort to boost local shopping and revenues for area businesses. They were not impressed.
Physicians at a recent town hall meeting at Northridge Hospital Medical Center strongly voiced concerns with a system they said is driving them out of practicing medicine, and sent the message that healthcare reform won't work if doctors don't want to be
Council, many local residents want medical marijuana facility to close
The Van Nuys Airport Citizens Advisory Council passed a resolution urging the city governments of Los Angeles and Burbank to work together on noise issues at their respective airports.
Wednesday, July 8
Agoura Hills law firm Bordner Feldman LLP announced that Craig S. Berman has been elected as an equity partner, and will undergo a name change to reflect the addition.
Lancaster-based Simulations Plus Inc., provider of simulation and modeling software for the pharmaceutical industry, was ranked 53rd on the Fortune Small Business FSB 100 list of the fastest growing small public companies in America.
Due to technical and server difficulties the San Fernando Valley Business Journal website has been down since the evening of July 6.
Monday, July 6
Social Security Disability Claims are rising in the recession, but opinions vary as to whether this translates into more business for lawyers.
Thousand Oaks-based Maverick Angels is opening two new offices, one in Santa Barbara, the other in the South Bay.
Follow up of the Ernst & Young Entrepreneur of the Year Event.
Recessionary Fiscal Readjustment Not Necessarily a Bad Thing
VICA takes look at national healthcare reform proposals
Photographs of business-related events in the valleys, including parties, awards dinners, benefits and other celebrations.
The D'Argenzio family owns and operates a winery and wine tasting room in Burbank..
An overview of whether commercial realtors are having luck filling vacant big box retail locations.
Congressional Plans Are A Threat to California Businesses at Home, Abroad.
Joy Stephenson started Mojo Marketing & Media to create socially-responsible marketing vehicles to raise awareness for charities.
Family business, Cusumano Real Estate, has left its mark on the City
Drive Wise Auto, an auto buying brokerage, gives a percentage of its commissions to charity.
A. Giddens, has been an electrical contractor based in Burbank since the 1940s.
Real estate investors are filing IPOs. There's business opportunity in distressed assets
The new Internet tracking system from Los Angeles World Airports.
Matt Plaskoff started One Week Bath after working with ABC's Extreme Makeover: Home Edition
Valencia-based Advanced Bionics leased a five-story 144,000 square foot building in the city of Santa Clarita- one of the biggest real estate deals as of late in the greater San Fernando Valley area,
New Red Flag Rules require companies dealing in personal information to have demonstrably tough identity-theft prevention programs in place by August 1.
Jeffrey and Stephen Isenberg run Impact Video, a provider of large screens for outdoor and indoor events.
The demise of the Sun Newspaper chain and how other publications have tried to fill the void
A round up of business incubators in the Valley region .
Thursday, July 2
The accounting firm for Image Entertainment Inc. has raised doubts that the home entertainment programming distributor can continue in business due to debt and lack of money for its operations.
AutoNation, the nation's largest car retailer, has returned to Oxnard, spending $9 million for property it's leasing to an independent operator who has opened two new dealerships , Mercedes-Benz and Smart Car.
LANCASTER - Antelope Valley College is telling students to expect a 30% increase in enrollment fees for fall semester as the result of action by state legislative leaders, a college spokesman said Wednesday.
The Business Journal and Glyphix Advertising are looking for a company to take advantage of a free ad makeover that will be reported on in a series of articles
Stabilization in consumer spending, the biggest part of the economy, may prompt factories to boost production in the coming months.
A crackdown by the Federal Trade Commission resulted in fraud charges against a Van Nuys company for bilking an estimated $300 million through get-rich schemes.
Wednesday, July 1
Tracking of aircraft flying to and from Van Nuys Airport can be more easily followed and noise complaints more easily filed with the a new Internet tracking system from Los Angeles World Airports.
The summer job market for young people in Ventura County looks more promising with the infusion of $1.75 million from the 2009 American Recovery and Reinvestment Act.
PALMDALE - One of Rep. Howard P. "Buck" McKeon's first actions as ranking member of the House Armed Services Committee was the committee review and eventual passage of the National Defense Authorization Act for Fiscal Year 2010, the Pentagon's $550.4 bill
The plan would create a Consumer Financial Protection Agency and make banks and non-banks subject to the same rules. Some Republicans and business groups say it threatens economic freedom.
Council votes to explore other options after denying renewal recommendation.