Stories for June 2009
Tuesday, June 30
The Valley Industry and Commerce Association released a report outlining 12 long term reforms to improve California's fiscal health and help ensure the passage of an on-time budget.
Interior Secretary Ken Salazar signs an order that sets aside some 676,000 acres of federal land -- more than half in California -- for study and environmental reviews.
PALMDALE - The Palmdale Applebee's, closed in January as the result of a bankruptcy, reopened Monday under the ownership of the chain's largest franchisee.
Employers Direct Insurance Company will reduce its staff by about 18 percent and lower premiums in an effort to reposition itself in the volatile California worker's compensation market.
City's four central garages need an operator, but many say bidding process is flawed.
Monday, June 29
The region had the nation's biggest percentage jump in 2008, and the number this year through April is up 75% despite a 2005 rule overhaul aimed at curbing filings by those who would benefit unfairly.
The Valley Economic Alliance on Saturday night recognized a long-time Valley corporation, a 125-year-old university and a classic television show for their contributions to the San Fernando Valley.
Funds saved could be diverted to city's other four bus lines, which cost less to run and draw more riders.
The San Fernando Valley Business Journal received a gold award for best ancillary publication from the Alliance of Area Business Publications for its special biotech report.
Friday, June 26
The Ventura Superior Court is seeking applicants in good standing with the State Bar Association to serve as commissioners for the court.
General Motors Corp., Toyota Motor Corp., Ford Motor Co. and other automakers may report a U.S. sales rate for June that exceeds 10 million units for the first time this year, according to three industry estimates.
City officials narrowly uphold time frame that has irked some business owners.
Thursday, June 25
Image Entertainment Inc. continues to explore various alternatives for its future following two mergers that failed to close.
Wednesday, June 24
The greater San Fernando Valley area was well represented at the Ernst & Young Entrepreneur of the Year awards gala for greater Los Angeles taking place June 23 at the Beverly Hilton in Beverly Hills.
Video game publisher THQ Inc. has formed three new business units to better align the company with its product strategy.
Representatives from the city and county of Los Angeles and Metro gathered in Chatsworth to break ground on the extension of the Orange Line busway.
Tuesday, June 23
Stephen Chipman has been appointed CEO of Grant Thornton LLP, the U.S. operations of the global accounting firm.
Boeing Co. said Tuesday it has again delayed the first test flight of its long-awaited 787 jetliner, citing a need to reinforce part of the aircraft.
LANCASTER - In what has become almost an obligatory prelude to their 2009-10 budget presentations, city officials warned that cuts in programs could gouge even deeper if the state proceeds with its plan to solve its deficit problems with money from local
Calabasas-based Ixia completed a cash tender offer for all of the outstanding shares of common stock of Mountain View, Calif.-based Catapult Communications Corporation.
The Ventura City Council, as expected, decided late Monday to go to voters in November to raise the local sales by a half-cent, and are hoping they warm to the possible $10 million it could raise for added police and enhanced local services.
The Valley Economic Alliance will hold its 12th annual Valley of the Stars Gala Dinner & Awards Ceremony on June 27, honoring three "stars of the Valley": Rowan & Martin's "Laugh-In"; The Walt Disney Company; and Woodbury University.
City Council's branch devoted to redevelopment issues may join anti-state effort.
Monday, June 22
A look at the county-owned airport and Vista Aviation, one of the airport's largest tenants
New Van Nuys Airport budget calling for expense cuts
Standards will be published as a formal, binding code by FASB, superseding all existing accounting standard documents
The U.S. Food and Drug Administration asked biotech giant Amgen to participate in an advisory committee meeting in August to review the company's experimental osteoporosis drug denosumab.
Photographs of business-related events in the valleys, including parties, awards dinners, benefits and other celebrations.
Judith Chipps makes Barron's Top 100 Women Financial Advisors list.
Stock activity for 50 selected greater San Fernando Valley-based public companies
Woodbury University launches lecture series, filling void left by closure of CSUN Family Business Center
Bank activity ranked by locations, assets, deposits, net income, performance.
Excelsior luxury condos at Americana at Brand cut prices to meet the market.
Valley state chartered banks fared better in Q1 2009 than Q4 2008.
The state Public Utilities Commission will hold a public hearing Thursday in Thousand Oaks on Edison's proposal to build an electrical substation and power lines through the Tierra Rejada greenbelt.
Conduct a Human Energy Audit To Boost Efficiency at Your Firm
Investors will closely watch reports on personal spending and incomes in May and consumer sentiment in June.
VIA organizes trade show to highlight local suppliers
Key Aviation expanding to the West Coast at Van Nuys Airport.
As aircraft orders decline, business aviation industry also contending with an image crisis
Update on the Stage 2 phaseout at Van Nuys; FAA reauthorization bill
R & D; transaction the first for a while in Eastern Ventura County, and business incubator planned for Pacoima
President of Phillips Graduate Institute resigns; school on probation
LANCASTER - Under separate action items, the City Council on Tuesday will consider changing some of the types of uses allowed on 2,310 of the city's 60,160 acres of land in its jurisdiction and consider increasing that number to 67,350.
Plans for renovating the Reseda Theater have stalled; CRA and developer CIM working together to re-start the project.
Mother and daughter expanding series of web sites about local communities
DTS Inc. and Zoran Corp. signed a new licensing agreement following the settlement of a lawsuit between the two companies.
The Valley Industry & Commerce Association inducted The Beverly Garland Holiday Inn, Gelson's Markets, Los Angeles Pierce College, Spectrolab and Ritchie Valens, to its San Fernando Valley Business Hall of Fame, recognizing their contributions in shaping
Mayor expects to rake in $10 million with tax amnesty program
Reality show dabbles in the apparel industry
Friday, June 19
Years of gas tax revenue have helped fund the project, city manager says.
PALMDALE - Continuing a string of cutbacks that started 16 months ago, city officials announced Thursday they laid off two full-time and four part-time city workers, and switched four other positions from full-time to part-time.
The network combines its programming and production units in a cost-cutting move.
Nestle USA's Banking Division initiated a voluntary recall of refrigerated cookie dough products after a number of consumers reported feeling ill after eating raw cookie dough.
For the second time in less than three months, a new president and chief executive has been named at camera and lens developer and supplier Panavision Inc.
Those who aren't in imminent danger may have to wait in line
The California Public Utilities Commission approved a plan proposed by Southern California Edison to install advanced solar panels on unused large commercial rooftops across Southern California.
Thursday, June 18
The citywide ban, passed in October, may be tweaked before city steps up enforcement.
Chapman University economists say recovery is imminent, but it will take until 2010 for the benefits to become evident to many because the state is in such deep trouble.
SACRAMENTO - City officials in Lancaster and Palmdale say their respective cities will pass a resolution in the upcoming weeks, denouncing another attempt by the state to seize local government funds in an attempt to fix its budget problems.
Wednesday, June 17
WASHINGTON -- Consumer prices rose less than expected in May and posted the steepest annual drop in 59 years, according to government data released today, fresh evidence that the recession is keeping inflation in check.
LANCASTER - If Antelope Valley Hospital was a car-crash patient, it would be out of the emergency room and out of the recovery room but still in need of some rehabilitation.
Slow economy plays a role in council's decision to give project to expand the Hotel Amarano some more time.
Failure to file required financial statements has led MRV Communications Inc. to have its shares no longer traded on the NASDAQ Stock Market.
Water rates in Ventura County and throughout Southern California just keep rising, with no relief in sight for at least the next two years, the county's director of water and sanitation told the Board of Supervisors on Tuesday.
Tuesday, June 16
After a four week employee-driven effort, Providence Holy Cross Medical Center surpassed its goal of raising half a million dollars to contribute to the hospital's $181 million expansion.
China needs to open its market for foreign movies to create global economic opportunities, Motion Picture Association of America Chairman and CEO Dan Glickman said to Chinese government officials and film industry professionals.
WASHINGTON -- The economy took two steps forward and one step back in May as housing starts picked up but industrial production fell more than expected.
The Simi Valley City Council adopted a $56 million budget Monday night, closing a $5 million gap by cutting all employees' salaries by 2 percent, eliminating several positions and a one-time transfer of $1.7 million from the Workers Compensation fund.
The federal funds might not be used, but officials say they're looking into options.
Manufacturing and overhead costs connected with the launch of two new microturbines contributed to Capstone Turbine Corp. reporting a net loss for the fourth quarter.
Monday, June 15
Reports expected on manufacturing, housing and an index of leading economic indicators hint of a rebound this year.
Engineering services firm National Technical Services Inc. reported a first quarter net income drop of 26 percent when compared with the first quarter from a year ago.
All three congressional representatives for the Burbank-Glendale area voted Tuesday to pass a bill that would provide vouchers of up to $4,500 to residents who turn in their gas hogs for significantly more fuel-efficient vehicles.
Camarillo-based Vitesse Semiconductor Corporation has reached a settlement in connection with the company's lawsuit against its former auditing firm, KPMG LLP.
Federal prosecutors have been prevented from bringing up controversial retention bonuses in a in a civil case against beleaguered insurance and financial services giant AIG, a judge has ruled.
LANCASTER - At the behest of the mayor, the City Council has postponed the first of two votes that could give developers more time to build housing tracts, shopping centers or other projects delayed by the economic downturn.
Friday, June 12
PALMDALE - Rancho Vista Golf Course has been under new management for more than three weeks, but employees say it is business as they know it at the westside public facility.
QPC Lasers Corp. has been acquired by a New York-based private equity firm.
The longest running recession since 2002 could have a very slow upturn, according to Carrie Rogers, Vice President of Business Assistance and Development for the Los Angeles Economic Development Corporation.
Weekly newspaper's beat will become part of News-Press. Leaders say move is about efficiency.
Rising oil prices are boosting the carriers' costs while the global recession and swine flu fears are prompting fewer people to travel.
California Bank & Trust has completed the conversion of Alliance Bank accounts and buildings. More than 6,000 deposit accounts have been integrated into the California Bank banking system.
Thousand Oaks will begin the new fiscal year on July 1 with a balanced budget after the City Council approved a round of cuts this week to close a $1 million deficit.
Kaiser Permanente is moving forward with an aggressive expansion of its healthcare facilities, investing $8 billion dollars on construction projects in the next four years at a time when other hospitals have shut down due to the recession.
The California Emerging Technology Fund launched a public awareness program the group says will help close the "Digital Divide" by breaking down barriers that prevent Californians from accessing high-speed Internet access.
Thursday, June 11
WASHINGTON - Longtime Valley Congressman Howard P. "Buck" McKeon, R-Santa Clarita, was chosen Wednesday as the ranking Republican member of the House Armed Services Committee.
Five Valley citizens were chosen Thursday as finalists for the Fernando Award given annually to honor volunteerism.
L.A. County and California health officials say they will look into the case. It's the first confirmed case in the Southern California industry since 2004, when production was closed for four weeks.
Santa Clarita's sound financial management and demonstrated economic and
An Encino-based CPA was named as one of the "Top 40 Tax Advisors to Know During a Recession" in the April/May 2009 issue of CPA Magazine.
WASHINGTON -- The number of newly laid-off Americans filing jobless claims fell more than expected last week and retail sales grew in May for the first time in three months, fresh evidence that the worst of the recession may have past.
In 2007 alone, clean energy spurred the opening of 10,209 businesses with 125,390 jobs in the Golden State, according to a report by the Pew Charitable Trusts.
A slight improvement in hiring activity is expected in the third quarter for companies in the Los Angeles, Long Beach and Santa Ana areas, according to the Manpower Employment Outlook Survey.
Wednesday, June 10
Plaintiffs accuse the studio of dumping contaminants from cooling systems, affecting its neighbor.
A proposal to declare a 45-day moratorium on new home improvement, hardware and building supply stores , which would have blocked Home Depot's efforts to renovate and open in an old Kmart building on Hampshire Road , was pulled from the Thousand Oaks City
The Screen Actors Guild wins residuals for shows that stream on the Internet and a 3% pay raise. The contract passes in a landslide vote.
Network equipment testing firm Ixia expects a savings of $6 million through a restructuring that includes cutting up to 10 percent of its global workforce.
Tuesday, June 9
LANCASTER - Elected officials today will discuss a new city budget that would, if adopted without changes on June 23, cut municipal spending by approximately $68.8 million.
Balloting ended June 9 by members of the Screen Actors Guild to vote on approval of a new contract with the major Hollywood studios.
Santa Barbara-based Montecito Bank & Trust today will mark the opening of its first full-service branch in Ventura.
The United Chambers of Commerce of the Greater San Fernando Valley's Small Business Awards Breakfast featured a "state of the county" address by L.A. Supervisors Mike Antonovich and Zev Yaroslavsky.
WASHINGTON -- Wholesalers slashed inventories more than expected in April as businesses struggled to get stockpiles in line with falling sales.
City subsidy, cutting costs helped theater keep numbers higher than last year.
Monday, June 8
Oren Weintraub has a different model of car buying.
The plan, which is in the early stages of negotiations, centers on a debt-for-equity swap that probably would give the senior lenders a large majority ownership stake in the reorganized Chicago media firm.
Valley Industry and Commerce Association goes to Washington to lobby against "card-check" legislation.
Councilman Alarcon is promoting the establishment of more banks
Valencia couple find a Purr-fect business in design-quality climbers, beds, and toys for discriminating felines
Smart & Final is expanding its new "Extra" stores in the Antelope Valley.
LANCASTER - When the economy rebounds and businesses again look to expand, the city of Lancaster plans to be ready.
In the current economic climate business lunch habits are changing
Burbank and Woodbury University take a look at the economic future
The E3 video and computer gaming trade show has regained the carnival-like atmosphere of past shows.
A group of Valley inventors is participating in the X-Prize competition to build an alternative energy vehicle.
Photographs of business-related events in the valleys, including parties, awards dinners, benefits and other celebrations.
What does it take to be a LEED-certified building and why is a LEED certification so important or is it.
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
It's not the right time for businesses to cut back on advertising and marketing. Column by SFVBJ Editor, Jason Schaff
California is one of only four states that have a two-track system for becoming a certified public accountant.
San Fernando Valley retail vacancy rates are expected to keep climbing and rents falling in 2009
The state Supreme Court has issued a ruling that worries businesses regarding frivolous lawsuits.
Although Simi Valley officials call it a last resort, they are considering cutting about 50 city positions to balance an ever-shrinking budget.
What are green-collar jobs and will many unemployed or under-employed people be able to take advantage of these jobs?
Company Brand May Be Firm's Most Valuable Asset. Plus: Disney Online Closes Kaboose Deal
The City is one of the more progressive ones when it comes to "green".
Events at local chambers. PLUS: Local Chambers Honored for their Business Advocacy
The auto industry is at a turning point. What are area companies and firms with ties to the auto industry doing to prepare for a changed future?
Friday, June 5
The Securities and Exchange Commission announced yesterday it has charged former Countrywide Financial CEO, Angelo Mozilo, and two other former executives with securities fraud.
A subsidiary of Teledyne Technologies Inc. received an $8 million to develop electronics devices and integrated circuits over the next two years.
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.
Thursday, June 4
The number during the four months that ended March 31 are more than double the amount required in the period under an agreement between the bank and states including California.
PALMDALE - If the state government takes an estimated $1.9 million in property tax funds from the city - an increasingly likely part of the plan to balance California's budget - Palmdale will be in dire financial straits, city leaders agreed Wednesday.
The federal Department of Energy will likely scrap plans to use stimulus money to demolish buildings at its former nuclear test site at the polluted Santa Susana Field Laboratory after the idea received a cool reception from the community, officials said.
Wednesday, June 3
Grant Thornton International announced Edward Nusbaum will serve as the firm's next CEO.
The National Assn. of Realtors says that its seasonally adjusted index of sales contracts signed during that month surged 6.7% to 90.3 in the biggest monthly jump since October 2001.
Companies from the greater Valley region were well represented among the exhibitors at the E3 video and computer gaming trade show at the Los Angeles Convention Center through June 4.
Financial software provider BlackLine Systems has opened a new office in Paris to serve clients doing business in Europe, Africa and the Middle East.
Handful of residents complained they were not well informed about the possibilities of paying more for water, trash.
Tuesday, June 2
Monday, June 1
Federal stimulus money may become available to conservation programs locally.
Crowe Horwath LLP, which has offices in Sherman Oaks, and is one of the country's 10 largest public accounting firms, has combined with New York City-based Hays & Company, LLP.
The Federal Aviation Administration begins a six month review process for a mandatory curfew at Bob Hope Airport after finding the airport's application was complete.
WASHINGTON -- Frugal consumers trimmed spending in April -- although by less than expected -- as rising unemployment kept pocketbooks in check and motivated Americans to save.
Hara, which launches today, is the latest IT effort to help firms and the planet through software to manage water and energy use.
It was not long ago that computers were slow, had black and white screens, and still cost upwards of $2,400. Only a few years ago, the notion of uploading a presentation from an eight gigawatt USB drive was inconceivable.