Stories for May 2013

Friday, May 31

AeroVironment Discloses Layoffs

AeroVironment Inc. said in a regulatory filing that it had implemented a workforce reduction, but did not specify how many people had been laid off.

FAA Considering Helicopter Noise-Reduction Measures

The Federal Aviation Administration will look at modifying helicopter routes and having the aircraft fly at higher altitudes in certain areas as a way to address noise complaints from L.A.-area residents.

Power-One Expands in South Africa

Power-One Inc., a Camarillo manufacturer of solar power components, is continuing its expansion into the South African market with the completion of a 35-kilowatt project.-

Sherman Oaks Apartment Building Sells for $4.5 Million

Fountain Glen, a 20-unit apartment complex in Sherman Oaks, sold for $4.5 million this month after attracting more than 20 offers in one month

Thursday, May 30

Nexicore Services to Lay Off 108 in Simi Valley

Nexicore Services is set to lay off 108 employees at its Simi Valley headquarters, according to a notice filed with the state Employee Development Department.

BKF Renews Qualstar Takeover Bid

BKF Capital Group Inc. is again seeking to take over Qualstar Corp., a Simi Valley manufacturer of data tape storage products.

NetSol Inks $5 Million Deal with Australian Firm

Software firm NetSol Technologies Inc. has signed a $5 million deal with an Australian lending firm, the company said Thursday.

Wednesday, May 29

Low Inventory Drives Up Valley Home Prices

A lack of supply drove San Fernando Valley median home prices in April to their highest level in five years. The median hit $460,000, the highest since April 2008.

Amgen Establishes Japanese Joint Venture

Amgen Inc. will expand its reach in the Japanese market through a joint venture with Tokyo firm Astellas Pharma Inc., the company said Wednesday.

Guilty Plea in KPMG Scandal

Accountant Scott London, an Agoura Hills resident, has agreed to plead guilty to insider trading in a case that rocked the downtown office of KPMG and its clients.

Hertzberg to Seek Public Office Again

Nearly a decade after falling short in his 2005 bid to become the mayor of Los Angeles, former Assembly Speaker Robert Hertzberg has announced his intention to return to public office.

National Technical Tests NASA Lunar Satellite

National Technical Systems Inc. conducted tests at its Santa Clarita facility on a NASA satellite to launch this year to study the moon.

Tuesday, May 28

State Condom Law Shelved

A bill mandating the use of condoms in adult movies filmed anywhere in the state has been shelved by an Assembly committee, likely preventing its consideration until next year.

Dole Suspends Share Repurchases

Shares of Dole Food Co. Inc. fell nearly 6 percent on Tuesday after the fresh vegetable and fruit company dropped a share buy-back plan and will instead use the money to modernize its shipping fleet.

Capstone Hits 52-Week High on New Orders

Shares of Capstone Turbine Corp. hit a 52-week high Tuesday on news that New York real estate developer Related Cos. had placed orders for the firm’s microturbine energy systems.

VEDC Receives Grant for Entrepreneur Program

Small business lender Valley Economic Development Center has received a $50,000 grant from Citi Foundation for an entrepreneurial training program

Monday, May 27

Popcorn Turns Career Inside Out

Former film executive finds role as crafter of gourmet snacks.

RETAIL: A lot is popping at California Kettle Corn in Newbury Park.

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Sour Dough?

Former partners open competing bakeries after dispute

RESTAURANTS: Two former partners run competing bakeries with different business styles.

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Editorial Cartoon SFVBJ - May 27, 2013

TAKE TWO

TAKE TWO - This week's Editorial Cartoon by Steve Greenberg

VALLEY BIZ SEEN - May 27, 2013

Photographs of recent business-related events in the valleys, including parties, awards dinners, benefits and other celebrations.

The Boring Truth on Health Reform

Provisions in the Affordable Care Act, commonly known as Obamacare, will give small businesses the option to purchase health insurance for their employees beginning in January through the California Health Benefit Exchange, also known as the SHOP Exchange or Covered California.

Good Luck on a Thankless Job

EDITOR: Eric Garcetti won the election – now he has a thankless job.

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Clean Energy for California’s Economy

The Legislature should pass bill directing state’s energy commission to explore more uses for natural gas.

California has always been a leader.

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Stockwatch

Market Watch Summary

Stocks were incrementally higher in the broad market for the two-week period ended May 22.

Calendar

Calendar of Events

Around the Valleys

News and notes from around the greater San Fernando Valley

The Empire Landing luxury apartment building at 1902 Buena Vista St. was purchased last month by New York money management firm TIAA-CREF for an undisclosed price.

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New York Firm Falls Hard for Valley Rentals

Apartments: TIAA-CREFF pays $84 million for Oceano Warner Center.

In the year’s largest multifamily sale in Ventura and Los Angeles counties, New York financial service firm TIAA-CREF has acquired Oceano Warner Center for $84 million.

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Financial Executive Chips In With Charity Work

Event: CFO of Irish pub chain assists with Ryan O’Neil Golf Classic.

Shawn Mulchay recently was promoted to chief financial officer at Brendan’s Group LLC, which owns Brendan’s Irish Pub & Restaurant chain in Newbury Park, Agoura Hills and Camarillo.

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Fortune Shines Brightly on Sun Valley Company

Entertainment: Hollywood Film lights “Mad Men” set with new LED system.

A chance meeting at an entertainment trade show brought Vince Carabello and his company into the light.

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Opposites Attract at Camarillo Litigation Firm

Insurance: West Corzine formed after partners squared off on case.

At the new Camarillo firm West Corzine LLP, the partners come at legal issues from opposing ends of the client spectrum.

Brokerages Get Fat – and Healthy – on ObamaCare

Insurance: Federal reform spurs growing demand for specialist brokers.

STORY: Health reform helps insurance brokers as companies seek coverage. Includes SFVBJ's 2013 VALLEY'S INSURANCE BROKERAGE FIRMS list for download (pdf)

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Screening Rooms

PHOTO ESSAY: A look inside a state-of-the-art digital post-production shop.

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Early Adopter

Ramy Katrib could see post production was going digital in 1999 when he founded DigitalFilm Tree. Now, his company is a leader in the growing field.

Q&A: Software developer Ramy Katrib was an early advocate of digital editing technology.

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Runaway Post Production the Next Challenge?

TAXES: Other states and countries try to lure away post-production work with financial incentives.

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Byte-Sized Revolution

Portable gear and cheap software have upended post production for the industry’s big and small players alike.

ENTERTAINMENT: Post production’s shift to digital has resulted in a more even playing field between firms.

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Providence Makes Bid for Santa Monica Facility

Health Care: Catholic chain in exclusive talks to buy St. John’s Health Center.

HEALTH CARE: Providence has three hospitals in the Valley and wants another in Santa Monica.

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Putting On a Clinic

Non-Profits: Valley Community Clinic to launch $4 million fundrasing campaign for its planned North Hills medical center.

NON-PROFITS: Valley Community Clinic has secured $10 million to build a new facility, but needs $4 million to run it.

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Neighborhood Takes Shape By the Letter

Postal Service OKs Sherwood Forest as valid mailing address.

POLITICS: Sherwood Forest is the latest Valley neighborhood to gain official status.

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Trainer Has Bones to Pick On Posture

Jill Miller’s focus on skeletal alignment now a healthy business.

FITNESS: Jill Miller loves good posture just for the health of it.

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Geiger Counter Not Included

Amgen chemotherapy drugs may help with radiation exposure.

BIOTECH: Amgen has a drug that may help survivors of a nuclear disaster.

Agents Go Top Secret with Listings

Real Estate: Scarcity of homes has pros resorting to unorthodox tactics.

REAL ESTATE: Houses for sale are so rare, brokers are working the phones to find them.

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Credit Card Data Firm Charged Up

Marketing: Tranzlogic culls personal info from simple swipe.

Marketing: With a swipe of your credit card, Tranzlogic can tell a merchant all about you.

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Big Tract Plan For Small Lots

Development: 131-home project slated for 5.7 acres in Van Nuys.

DEVELOPMENT: Small lot subdivisions are the next big thing in Van Nuys – and elsewhere.

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Friday, May 24

Valley Business Interests Oppose Airport Curfew

Business and aviation interests in the San Fernando Valley are organizing their response to legislation proposed by two federal lawmakers for mandatory curfews at Van Nuys and Burbank Bob Hope airports.

Santa Clarita Valley Economic Chief Resigns

Jonas Peterson, chief executive of the Santa Clarita Valley Economic Development Corp., has resigned

Wesco Secondary Offering Sells Out

Underwriters are exercising an option to purchase an additional 2.25 million shares in Wesco Aircraft Holdings Inc. in a secondary offering from the company’s largest shareholder, the Carlyle Group.

Carlyle Expands Wesco Purchase Plan

Underwriters are exercising an option to purchase an additional 2.25 million shares in Wesco Aircraft Holdings Inc. in a secondary offering from the company’s largest shareholder, the Carlyle Group.

Thursday, May 23

DTS Signs Deal With Chinese Car Maker

DTS Inc. will supply surround-sound technology for four models of vehicles made by Chinese auto manufacturer BYD Co. Ltd.

MannKind Shares Continue Surge

Shares of Valencia biopharmaceutical company MannKind Corp. continued to rise Thursday on speculation that the company may be headed for acquisition.

Garcetti Victory Tied to Surprising Strength in Valley

The final vote count shows Los Angeles’ next mayor won the race based on a surprisingly strong performance in the San Fernando Valley.

Wednesday, May 22

Garcetti Wins Mayor’s Race, Valley Vote Split

Eric Garcetti is L.A.’s next mayor, defeating City Controller Wendy Greuel in Tuesday’s runoff election. Garcetti garnered 53.9 percent of the city-wide vote, but San Fernando Valley voters were split nearly evenly between the candidates. Pollsters had predicted that Greuel would need the Valley vote to defeat Garcetti.

Airport Curfew Law Reintroduced

Two San Fernando Valley lawmakers have reintroduced a bill on Wednesday to allow Van Nuys Airport and Burbank Bob Hope Airport to adopt mandatory nighttime curfews on flights.

Sprouts grocery store opens in West Hills

A new mid-sized grocery store from Sprouts Farmers Market LLC has opened in the Fallbrook Center in West Hills.

Tuesday, May 21

ESPN Announces Layoffs

Cable sports network ESPN will lay off about 400 workers as part of cost-cutting efforts by parent company Walt Disney Co. of Burbank.

Valley Voters Head to the Polls

San Fernando Valley voters headed to the polls today to choose a new mayor – both with strong ties to the area.

Ontic to Supply Curtiss-Wright Parts

Local aerospace supplier Ontic has signed a licensing agreement with Curtiss-Wright Controls Integrated Sensing to supply parts for cockpit controls used on commercial, business and military aircraft

KPMG Conspirator Pleads Guilty

Bryan Shaw, a San Fernando Valley businessman, pleaded guilty Monday for insider trading on stocks in conspiracy with a former partner at the downtown Los Angeles office of accounting firm KPMG

Monday, May 20

Carlyle Selling Shares of Wesco Aircraft

Carlyle Group, the largest investor in Wesco Aircraft Holdings Inc., is selling off a portion of its holding through a public offering of 15 million shares of common stock.

PennyMac Shares Jump on Investor News

Shares of PennyMac Financial Services Inc. jumped nearly 9 percent Monday when prominent investor Leon Cooperman disclosed that his hedge funds owns 22 percent of the residential mortgage lender’s stock.

Glendale Startup Raises Money

Glendale startup SnapMD Inc. has raised $175,000 out of $625,000 sought in a private equity offering, according to filings with the Securities and Exchange Commission.

Friday, May 17

Unemployment Rate Falls in Valley-Area Cities

Cities in the greater San Fernando Valley reported significant drops in their April unemployment rates as the California economy picked up, and state and county unemployment fell to its lowest point since 2008.

Burbank, Glendale Receive AAA Credit Ratings

A strong local economy and steady tax base growth contributed to the cities of Burbank and Glendale receiving an AAA credit rating from Standard & Poor’s Rating Service.

Amgen Ventures Joins Startup Fund

Amgen Inc., through its venture capital arm, has partnered with two other firms to fund biomedical startups with a new $265 million fund.

Thursday, May 16

Wesco Receives Airbus Supply Contract

Aerospace parts supplier Wesco Aircraft Holdings Inc. announced Thursday it has received a contract to supply European aircraft manufacturer Airbus SAS.

Warner Center Business Park Sells for $80 Million

The 13-building Warner Center Corporate Park has sold for $80 million.

Digital Revolution Prompts Warner Bros. Management Changes

Warner Bros. has shuffled its top management in what it calls a “strategic realignment” prompted by the “digital revolution” in media and entertainment.

Wednesday, May 15

Ryland Raising $250 Million in Note Offering

Homebuilder Ryland Group Inc. is raising $250 million in a convertible note offering that started this week.

Amgen Tour Draws Crowds

After drawing thousands of spectators, the Amgen Tour of California left the greater Valley area on Wednesday as the cyclists took off on the race’s 84-mile fourth stage to Santa Barbara.

Bank Merger Gets Final Approval

First California Financial Group has received final approval from federal regulators for its merger with PacWest Bancorp.

Burbank Airport Signs UCLA Marketing Agreement

Burbank's Bob Hope Airport will be marketing itself to Bruin fans and Rose Bowl spectators under a three-year agreement that began Wednesday.

DineEquity Declares Dividend

The Glendale parent of the Applebee’s and IHOP restaurant chains has declared a second quarter cash dividend of 75 cents per share.

Tuesday, May 14

Casden Sells Burbank Apartment Complex

Financially troubled real estate developer Alan Casden has sold a 276-unit luxury apartment complex he built in Burbank in 2010.

Apollo to Manage Care for Terminal Kidney Patients

Apollo Medical Holdings Inc. of Glendale has signed an agreement with Fresenius Medical Care, the largest dialysis service company in North America, to provide care management for patients with end-stage kidney disease.

Kythera Beats Estimates on Widening Losses

Kythera Pharmaceuticals Inc. beat Wall Street estimates in the first quarter, even as it widened losses due to costs of late-stage clinical trials of its primary pipeline product, an injectable fat-loss drug.

Earnings Roundup: Qualstar, Trio-Tech

Qualstar Corp. misses earnings’ estimates. Mixed results for Trio-Tech International Inc.

Monday, May 13

Teledyne Dalsa Buys Semiconductor Company

A Canadian subsidiary of Teledyne Technologies Inc. has acquired a Dutch semiconductor company that makes high-performance integrated circuits for use in image-sensor and camera products.

Local Airport Towers to Remain Open

Control towers at airports in Pacoima and Lancaster will remain open through the summer after emergency legislation passed by Congress restored some funds to the Department of Transportation.

Profits Slide at Interlink

Profits fell despite rising first-quarter revenue at Interlink Electronics Inc., a maker of sensor technology for touchpads, hand-held devices and other applications

Making It Count for California

Op-ed: Valley industry group argues for expanding the ‘California Grown’ label program to manufacturing.

California leads the nation in economic output in agriculture and manufacturing, but these two sectors have been hit hard in recent years.

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Blowing A Cloud of Smoke

Commentary:

EDITOR: Arguments for medical marijuana get lost in the haze.

‘The 21st Century Economy’

OP-ED:

OP-EDS: L.A. mayoral candidates square off on helping the Valley.

‘As Mayor, I Will Create Jobs’

OP-ED:

OP-EDS: L.A. mayoral candidates square off on helping the Valley.

Around the Valleys

News and notes from around the greater San Fernando Valley

Jo-Ann Stores Inc. is set to open a new location just a few months after closing at its previous location.

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Aussie Firm Looking to Get Skin in the Game

Biotech: Avita Medical technology harvests cells for spray-on repairs.

Avita Medical wants to bring a skin regeneration spray to a doctor’s office near you.

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Technicolor Heritage Brightens Second-Screen App

Television: Magic Ruby spun off from legendary movie film company.

There are a lot of tech companies flooding the second screen marketplace, but Burbank startup Magic Ruby thinks the industry has room to grow.

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Housing Recovery Boosts Power Center’s Price

Retail: Gateway Village goes for $47.5 million to Newport Beach firm.

Valencia shopping center Gateway Village has sold for $47.5 million, the highest price in total dollars for a Santa Clarita Valley retail property this year.

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Executive Chef

After decades as a concert promoter, Irv Zuckerman sliced his retirement short to open Valley chain PizzaRev.

Q&A: PizzaRev’s Irv Zuckerman was playing golf when a friend mentioned an idea for a restaurant.

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Spinoff Prompts Goldston Break Up With United

Internet: Longtime CEO to leave e-commerce firm after FTD goes own way.

INTERNET: United Online will spin off its FTD site but lose its chief executive.

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Modern Day Belles

Transportation: TIG/m builds retro trolleys that are hydrogen-fueled.

TRANSPORTATION: Public trolleys are a tourist attraction at Chatsworth’s TIG/m.

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Pulling Out All Stops For Record Ride

Magic Mountain preps tallest, fastest looping coaster: Full Throttle.

ENTERTAINMENT: A new roller coaster at Magic Mountain could accelerate profits at Six Flags Entertainment Inc.

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Cannes-Do Attitude On Tax Credits

Financial services firm missing the red carpet at French film festival.

FINANCE: Why are tax-credit accountants from Burbank attending the Cannes Film Festival?

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Advertiser Won’t Sit For Low Turnout

SkyTag CEO looks to get out ‘Vote’ with bus bench message.

ADVERTISING: Low voter turnout inspires supergraphics mogul Mike McNeilly to rent 300 bus benches.

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Theater Sees Bigger Role To Play

Alex expands venue space to draw larger events to Glendale.

DEVELOPMENT: The long story of the Alex Theatre’s renovation could have a happy ending.

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River Cruise Line To Bump High-Seas Industry Whales

TRAVEL: Viking River Cruises has moved into ocean cruising with plans for two seaworthy ships.

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Sylmar Firm Sees Future for Bionic Eye

Biotech: Lower costs, improved acuity next hurdles for Second Sight.

BIOTECH: The blind may see after a Sylmar company gets FDA approval for its bionic eye.

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L.A. Mayor’s Race Lacks Adrenaline

Politics: Garcetti, Greuel match draws mixed business interest.

POLITICS: Business leaders consider both candidates in the L.A. mayoral election.

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AV Solar Plant Loses Luster

Energy: Palmdale sells rights to power facility to private developer.

ENERGY: Palmdale sells the rights to a solar plant for $27.4 million. Good riddance.

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Pay and Suffer

Agoura Hills firm cashes in on obstacle-course craze

SPORTS: Athletes pay to crawl through mud at the Merrell Down & Dirty Obstacle Race.

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Will Voters Put a Lid on Pot Shops?

After a few extreme policy shifts on the regulation of pot shops, the City of Los Angeles has turned the question over to voters.

Corporate Hotels Loosen Up, Go Boutique

Hospitality: Trendy makeovers continue at Valley-area lodgings.

LIST STORY: Business travelers can choose: Chain hotels or boutiques? Includes SFVBJ's 2013 VALLEY'S LARGEST HOTELS list for download (pdf)

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Owner Hits Off Switch at Van Nuys Lighting Plant

Manufacturing: Cooper moving operations to Denver, laying off 69.

MANUFACTURING: Cooper Lighting will close its Van Nuys plant and lay off nearly 70 workers.

Stockwatch

Market Watch Summary

Stocks experienced solid gains for the two-week period ended May 8.

Calendar

Calendar of Events

Editorial Cartoon SFVBJ - May 13, 2013

TAKE TWO

TAKE TWO - This week's Editorial Cartoon by Steve Greenberg

ObamaCare’s Tax on Innovation

Op-ed:

Across the country, medical technology innovators large and small are turning to cost-cutting measures to confront stiff market headwinds, including the need to offset a new 2.3 percent tax on revenue in the new Affordable Healthcare Act.

Taiwanese Dumpling House Settling into Glendale

Restaurants: DinTaiFung drawn to Americana, home to many Asians.

Amid all the hoopla last month about the decision of Americana at Brand owner Caruso Affiliated to pump $60 million of improvements into the five-year-old mall, an interesting development was given short shrift.

Friday, May 10

Ryland to Buy Texas Homebuilder

Ryland Group Inc. is set to acquire 15 new home communities in the Dallas-Ft. Worth market as part of a deal to buy the operations of Texas developer LionsGate Homes, the company said Friday.

Amgen Plans China Joint Venture

Amgen Inc. has signed an agreement with a Chinese pharmaceutical company for distribution of a colon cancer drug.

PennyMac Gains Ground After IPO

Shares of PennyMac Financial Services gained ground Friday a day after the company raised $200 million in an initial public offering.

Providence Creates Regional Fundraising Office

Providence Health & Services has combined the operations of its three Los Angeles County foundations to improve fundraising

MRV Reports Losses

MRV Communications Inc. said Friday it lost money in the first quarter despite rising revenue, as the company underwent a corporate restructuring and spent more on research and development.

Thursday, May 9

Public Storage Revenue Jumps, Misses Earnings Estimates

Earnings at Public Storage Inc. rose in the first quarter due to higher rents and lower vacancies at the company’s storage facilities, even as it disappointed analysts

Earnings Roundup: NetSol, Point.360

NetSol Technologies misses earnings targets. Point.360 reported lower profits and revenue.

Clinical Trials Lead MannKind to Higher Losses

MannKind Corp. reported a higher loss for the first quarter, attributing it to higher operating and R&D costs as the company conducts another round of clinical trials for its primary pipeline drug.

Easton-Bell Sales Slide Due to Bad Weather

Easton-Bell Sports Inc. reported a decrease in adjusted earnings in its first quarter, largely due to a spring season that was soft for its cycling business.

Wednesday, May 8

Ventura County Passes Condom Law for Adult Films

The Ventura County Board of Supervisors joined the growing pattern of passing a law requiring condoms in adult films.

L.A. Auto Show Selects Valley PR Firm

Woodland Hills public relations firm JMPR Public Relations has been hired to handle media relations and communications for the Los Angeles Auto Show.

Merex to Distribute Parts from Ohio Manufacturer

Aerospace service provider Merex Group will begin distributing aircraft parts made by an Ohio manufacturer used on legacy military aircraft.

DTS Beats Revenue Estimates

Home entertainment audio technology developer DTS Inc. beat analyst estimates on revenue for the first quarter but fell short on earnings per share.

Tuesday, May 7

Earnings Roundup: ValueClick, Vitesse

Westlake Village Internet advertising firm Value Click and Camarillo's Vitesse Semiconductor Corp. reported earnings.

L.A. Still to Vote on Pot Shops

A California Supreme Court decision allowing cities to ban medical marijuana dispensaries should not impact ballot measures going before Los Angeles voters May 21 to regulate dispensaries in the city.

Box Office Boosts Disney Earnings

Walt Disney Co. soundly beat profit forecasts in its fiscal second quarter, helped along by strong gains at its parks and the hit films "Oz" and "Wreck-it Ralph."

EA to Produce Disney ‘Star Wars’ Videogames

Walt Disney Co. has signed a deal with Electronic Arts Inc. to develop and publish video games based on “Star Wars” characters and storylines.

PS Business Parks Earnings Rise on Rents

PS Business Parks Inc. said its earnings and revenue increased in the first quarter due to increasing rental revenue as occupancy rates declined.

Monday, May 6

National Technical Systems to Cut Workforce

National Technical Systems Inc. will lay off an unspecified number of its employees as it centralizes administrative functions and shares resources.

BofA Settles Countrywide Dispute

Bank of America Corp. has agreed to pay mortgage insurer MBIA Inc. $1.6 billion to settle legal disputes related to home loans from its Countrywide Financial unit that were packaged into securities during the financial crisis, the bank announced Monday.

Chatsworth Industrial Building Sold

A 24,150-square-foot industrial building in Chatsworth is slated for an overhaul after being sold late last month for $3 million.

Four Greater Valley Companies Make Fortune 500

Fortune magazine’s annual ranking of the 500 largest U.S. public companies was released on Monday and four companies in the greater San Fernando Valley made the list.

Friday, May 3

Lancaster Solar Plant Up and Running

Officials from Carlsbad energy firm NRG Energy Inc. celebrated on Friday the opening of a 66-megawatt solar facility in Lancaster.

Superior Reports Lower Profits

Aluminum wheel maker Superior Industries International Inc. reported slowing profits in the first quarter, but still met analysts’ earnings targets.

SEIU Retains Kaiser Employees

Workers at Kaiser Permanente have voted to remain members of the Service Employees International Union rather than switch to the upstart National Union of Healthcare Workers.

Expansion Deepens Apollo Loss

Apollo Medical Holdings Inc. reported increasing losses Friday as it invests in a new business unit focused on Medicare patients.

Thursday, May 2

Antelope Valley Hospital CEO Resigns

Edward Mirzabegian, chief executive at Antelope Valley Hospital, has resigned and will leave his position at the end of the month.

LTC Announces Public Offering

Westlake Village real estate investment trust LTC Properties Inc. will offer 3 million shares in a planned public offering of common stock, the company said Thursday.

Dole Reports Mixed Quarter on Lower Sales

A smaller Dole Food Co. produced as much revenue as expected by analysts in its fiscal first quarter, but its profits failed to meet projections due to litigation expenses.

Power-One Narrows Loss

Camarillo solar power equipment company Power-One Inc. reported narrower first quarter losses on Thursday, which it attributed to higher-than-expected orders in Europe.

Profit Rises at DineEquity

The parent of the Applebee’s and IHOP restaurant chains reported a first-quarter profit that beat Wall Street forecasts, even as revenue fell sharply.

Crown Media Gains on Advertising

Rising advertising boosted results for Crown Media Holdings Inc. in the first quarter, the company reported Thursday.

Profit, Revenue Falls for Tix Corp.

Closure of two discount ticket-booth locations contributed to lower first quarter earnings for Tix Corp., the company reported Thursday.

Wednesday, May 1

Tutor Perini Records Profitable Quarter

Construction firm Tutor Perini Corp. swung to a profit in the first quarter as it recorded higher revenue due to work ranging from gaming projects in Nevada to fixing damage caused by Hurricane Sandy.

DreamWorks Buys YouTube Teen Network

DreamWorks Animation SKG Inc. has acquired a YouTube network for teens in a deal with a potential value of more than $100 million.

Airline Begins Bob Hope Airport Service

SeaPort Airlines Inc. began service on Wednesday between Bob Hope Airport in Burbank and the Imperial Valley.