Stories for April 2017
Friday, April 28
Providence St. Joseph Medical Center has named Kelly Linden as its new chief executive. She will start in her new role Monday.
Princess Cruises will base four ships in the South Pacific during the 2018-2019 season, keeping pace with a trend that has seen the region become a hot market for U.S. travelers.
A state labor law passed in 2004 has grown into a financial nightmare for small businesses such as Town & Country Event Rentals.
If developers get their way, 600-plus new apartments and a new supermarket will rise in Sherman Oaks over the next few years, but their visions have sparked backlashes from residents who believe the projects will degrade rather than improve their communities.
TECHNOLOGY: Valley firms take radiation testing to the skies.
Drones and radiation detectors: perfect together.
SOFTWARE: Venture firms pour $80 million into ServiceTitan.
Why investors see gold in Service Titan’s app for home repair.
Thursday, April 27
Sienna Biopharmaceuticals Inc. announced Wednesday that it has completed its Series B financing round, which raised $40 million.
On Assignment released first-quarter results that sent its stock up 8.5 percent Thursday.
Self-storage facilities sold in Sun Valley and Oxnard are part of a 15-property portfolio sale to a Chicago private equity real estate firm.
West Hills Hospital & Medical Center has appointed John Neidenbach as its new chief operating officer and vice president, the health care facility announced Wednesday.
Wednesday, April 26
Amgen Inc. on Wednesday released first quarter results that beat Wall Street expectations for earnings but missed on revenue. Its stock price fell more than 3 percent in after-hours trading.
Avery Dennison Corp. (AVY) on Wednesday reported first-quarter results that beat Wall Street expectations and prompted the Glendale firm to raise its guidance for the fiscal year.
Glendale’s self-storage developer PS Business Parks Inc. (PSB) reported first-quarter earnings that surpassed an analyst’s expectations.
Interlink Electronics Inc. is expanding its research and development center in Singapore by adding 10 scientists and engineers and pledging to invest $3.5 million in a state-of-the-art facility.
Tuesday, April 25
Dole Food Co. Inc. filed on Tuesday with the Securities and Exchange Commission to sell shares of its common stock to the public.
The price of single-family homes sold in the San Fernando Valley may have reached a record high in March, according to the Southland Regional Association of Realtors Inc.
National automobile service chain Tire Centers is expanding to Van Nuys with a new location, according to Hudson Commercial Partners Inc. in Studio City
A 63-year-old Northridge man was indicted Monday for his role in a $2.5 million investment fraud scheme, according to the U.S. Justice Department.
Mission Valley Bancorp had strong earnings in the first quarter, which was partially attributed to the sale of small business loans on the secondary market.
Monday, April 24
Amgen Inc. of Thousand Oaks announced Monday the expansion of its commercial collaboration with Swiss pharma company Novartis International for migraine medication erenumab.
Gannett Co. Inc. has acquired Canadian online marketing firm SweetIQ Analytics Corp. and will make it part of its ReachLocal business in the San Fernando Valley.
B. Riley Financial Inc. will take over the management of Dialectic Capital Management hedge funds, the Woodland Hills finance company announced Monday.
Friday, April 21
Women’s apparel retailer Bebe Stores Inc. will close all of its retail stores before the end of the third quarter, according to Securities and Exchange Commission filings. Liquidation firm Great American Group, a subsidiary of B. Riley Financial Inc. in Woodland Hills, will oversee the sale of Bebe’s assets in conjunction with Tiger Capital Group.
Wireless networking equipment manufacturer Xirrus Inc. has been acquired by Riverbed Technologies, a San Francisco technology firm.
A developer has plans to build a new 300-plus unit apartment complex with commercial space on Ventura Boulevard in Sherman Oaks, according to a marketing brochure by commercial brokerage CBRE Group Inc.
Thursday, April 20
Cheesecake Factory Inc. will expand into Canada later this year with a restaurant in Toronto, the Calabasas company announced.
Simulations Plus Inc. has signed a distribution deal in India with pharmaceutical testing equipment manufacturer Electrolab India Pvt. Ltd.
C.R. “Bob” Hudson, chief financial officer and senior vice president at Henry Mayo Newhall Hospital, will retire in July, the Valencia health care facility has announced.
Capstone Turbine Corp. has partnered with FGC Plasma Solutions to test a new plasma-assisted fuel injection technology for its C65 microturbines.
Wednesday, April 19
Princess Cruise Lines Ltd. was sentenced Wednesday to pay $40 million, the largest-ever fine for deliberate vessel pollution, according to the U.S. Justice Department.
California Resources Corp., the state’s largest oil and gas producer, has announced a second partnership to develop its existing oil and gas wells in the state.
Great American Capital Partners, a subsidiary of B. Riley Financial Inc. in Woodland Hills, and KKR Capital Markets have agreed to provide a secured loan to Sears Canada for about $220 million.
Tuesday, April 18
Barry Gump, retired president of Santa Clarita portable restroom firm Andy Gump Inc., has passed away at the age of 74.
Monster Digital Inc. received notice from the Nasdaq that it was out of compliance on meeting the $2.5 million stockholder equity required for listing on the market.
Porter Ranch residents voiced their concerns Monday Night regarding Southern California Gas Co.’s Aliso Canyon storage facility – a site where one of the worst natural gas leaks in U.S. history occurred.
Van Nuys Airport has named Christian Moreno as chief of operations, the airport announced Monday.
Monday, April 17
UTC Aerospace Systems has successfully completed the first flight test of its MS-177 imaging sensor on a Northrop Grumman drone in Palmdale.
In a move to increase investor transparency, Capstone Turbine Corp. released selected preliminary fiscal fourth quarter financial results Monday that showed an 11 increase in revenue.
RETAIL: New law brings up question of unfair competition.
Street vendors have been decriminalized, but to what effect on Valley retailers?
BIOTECH: Atara breaks ground on new Thousand Oaks facility.
Atara Biotherapeutics grows up and into new R&D and manufacturing home in Thousand Oaks.
AllOver Media installs HD technology at 20 Valley stations.
Customers of San Fernando Valley gas stations will be among first in nation to view new high-definition video screens at the pump.
Hollywood vehicle supplier to auction off slow-moving inventory.
If you just have to have the tractor from a “Mad Men” episode, you can bid on it at Picture Car Warehouse’s auction.
Oxnard to appear in PBS episode about family vacations.
Oxnard and its businesses star in PBS family travel show.
AVIATION: After 10 prototypes, inventor thinks he has the future of air travel on his back.
Makers of jetpacks strive to fly with a crowdfunding campaign.
FINANCE: Chains shrink Valley footprint after filing for Chapter 11.
A rash of national retailer bankruptcies has hit the region hard this spring, with dozens of stores shutting their doors in malls and shopping centers around the valleys.
SOFTWARE: Distribution deal opens Asian market while stock price rises.
Simulations Plus partners with new distributor in South Korea’s pharma market.
Former politician Wendy Greuel has an educational agenda as executive in residence at CSUN’s business school.
Wendy Greuel, once-politician, now executive in residence at California State University—Northridge.
Adjacent cities Glendale and Burbank take different approaches to development, but that may need to change.
Glendale and Burbank differ in how they handle development and growth—but now both are shifting direction.
Transaction: Repositioning fetches higher price for a Burbank building.
How can you fetch a higher price for an industrial building?
FILM: Valley filmmaker secures Denzel Washington to narrate biopic.
Jazz musician John Coltrane gave no television interviews during his 20-year career and no more than a handful of radio interviews.
TECHNOLOGY: da Vinci system may cut the time patients stay in hospital.
West Hills Hospital & Medical Center recently purchased a piece of robotic equipment that should decrease patient recovery time, blood loss, incision size as well as the need for pain medications following surgery.
Friday, April 14
Drug Tests in Bulk of West Hills, an online provider of drug tests for businesses and government agencies, plans to move its headquarters to a newly acquired building in Northridge, according to Hudson Commercial Partners Inc. in Studio City.
Woodland Hills retail developer and property management firm NewMark Merrill Co. has provided two of its shopping centers with nearly $27 million in refinancing.
Second Sight Medical Products Inc. has successfully implanted its Argus II Retinal Prosthesis System in its first patient in Asia via an exclusive distribution deal with Taiwanese pharmaceutical company Orient Europharma Co. Ltd. as well as a donation from the Hong-Lu Foundation in Taiwan.
New law brings up question of unfair competition.
After 10 prototypes, inventor thinks he has future of air travel on his back.
Thursday, April 13
Gateway Village shopping center in Santa Clarita has sold for nearly $70 million, according to commercial real estate brokerage Colliers International.
Walt Disney Co. is teaming up with Hasbro on a new line of toys based on characters from the Star Wars universe.
A nearly 4-acre parcel of land in Oxnard has sold to a buyer aiming to build a distribution warehouse, according to Daum Commercial Real Estate Services of Los Angeles.
Curt Castagna, chief executive of Aeroplex/Aerolease Group, has been appointed to the Los Angeles County Airport Commission.
Wednesday, April 12
On-location film, television and commercial production fell by 2.1 percent in the first quarter compared to a year ago, according to figures released Wednesday by FilmL.A.
California Lutheran University School of Management has appointed executives from Amgen Inc. and Lucky Brand to its dean’s executive council.
Capstone Turbine Corp. announced Wednesday the sale of 30 of its microturbines for use in various locations in the United Kingdom.
Tuesday, April 11
The operator of a home loan modification scam in Santa Clarita has been convicted of grand theft and white collar crime, according to the California Board of Equalization.
Monster Digital announced two new agreements with distributors to get its action and virtual reality cameras on store shelves in North America.
Sensor provider Interlink Electronics Inc. in Westlake Village has named John Heitzinger to the new position of director of strategic partnerships, the company announced Tuesday.
Monday, April 10
Consolidation of Aerojet Rocketdyne Inc. facilities will result in the transfer of about 100 jobs to the company’s Chatsworth location.
Liquidation auction house Great American Group will sell the inventory of two closed retail chains, the company announced Monday.
Tutor Perini Corp. announced Monday a tender offer to pay cash for its senior note debt instruments that expire in 2018.
Friday, April 7
Chicago media company tronc Inc. said in a public filing Thursday that it would be open to considering a proposal from its second-largest shareholder, Los Angeles billionaire Patrick Soon-Shiong, to buy out the company in order to own its trophy publication, the Los Angeles Times.
BYD Motors Inc. is supplying 11 zero-emission battery electric trucks to SF Goodwill for use in the San Francisco region collecting and transporting donations.
Beverly Hills-based PacWest Bancorp and downtown L.A.’s CU Bancorp will merge, with PacWest acquiring CU for $705 million in cash and stock considerations.
Thursday, April 6
NoHo West, a new and redeveloped project breaking ground this week, is the hope for a North Hollywood neighborhood that could use some TLC.
Real Industry Inc. has selected Kyle Ross as its chief executive, effective immediately.
Drug modeling software provider Simulations Plus Inc. on Thursday announced it has signed a distribution agreement with Korean drug developer Quantum Bio Solutions.
Summit Financial Consultants Inc. of Westlake Village has leased space at Westlake Park Place and has just moved its headquarters there, according to the firm.
Pacific Lodge Youth Services has merged with another organization to form the largest provider of residential services exclusively for probation youth in California.
Wednesday, April 5
Simulations Plus Inc. on Wednesday announced the release of the latest version of its main software product GastroPlus.
Monster Digital Inc. has signed an agreement to distribute its digital cameras through resort wholesaler Gulf Coast Panama Jack.
Tuesday, April 4
The city of Burbank has won three awards for economic development efforts last year in a statewide competition.
Next Monday, the Los Angeles Rams will begin the team’s first offseason training program at California Lutheran University in Thousand Oaks.
Salem Media Group has announced the retirement of Washington, D.C. General Manager David Ruleman, who will depart from the post in June after more than three decades with the Camarillo media broadcaster.
Monday, April 3
Avery Dennison Inc. will supply Target Corp. with radio frequency identification tags as part of the mass retailer’s initiative to implement the technology at more than 1,600 stores.
Golden Queen Mining Co. Ltd. has named the founder of a copper producer to its board of directors.
News and notes from the greater San Fernando Valley
A subsidiary of Teledyne Technologies Inc. received a $10 million contract from a French space agency to provide detectors and other electronics for a mission to Jupiter launching in 2022.
HOUSING: Gallery, library, computer lab and gym to provide therapy.
Palmdale’s homeless veterans will soon have a new housing option with an artistic touch.
Company carves new place at the airport for old-fashioned airplanes.
Clay Lacy on airports, flying and past Hollywood stars.
LIST: Big pharma’s former employees are staffing small pipeline drug companies.
Bioscience companies spawned from giant drug makers.
TELECOM: Misson Hills’ Cable Engineering acquired by Orange County firm.
Cable Engineering Services in Mission Hills was acquired by Motive Energy Telecommunications, an Orange County-based firm, in a transaction that closed last month between the two telecom companies.
education: Student team’s design for portable shelter wins grant support.
A team of young women from the San Fernando High School magnet program has received a $3,000 donation from three members of local business advocacy group Valley Economic Alliance to fund the next phase of development of a solar-powered portable shelter for the homeless.
New data shows Amgen’s Repatha lowers heart attack risk, but another study found high rejection rates by insurers.
Insurers don’t want to pay for Amgen’s pricey cholesterol drug. Now what?
INVESTMENT: Turn to profit sends OTC shares up for triple-digit gains.
Share prices rise for blood cell and tissue provider.
DEVELOPMENT: Residents’ groups square off on proposed Woodland Hills eldercare project.
A plan for an eldercare facility pits neighbors against neighbors in a Woodland Hills community.
Business group puts together St. Patrick’s fest with retail in mind.
Why Canoga Park Improvement Association held a St. Patrick’s Day parade.
Burbank firm hopes to turn smartphones into high-quality cameras.
Shaky cell phone videos? That’s why film industry supplier Matthews Studio came up with the Rover rig.
NONPROFITS: Disabled programs hurt by higher minimum pay.
Minimum wage increases pose a hardship for service organizations.
REAL ESTATE: Fillmore building has space for crafty tenants.
Owner repositions former citrus packing house in Fillmore.
Multi-shop event brings fiber art fans in through the front door.
Six Valley yarn shops wind up to prepare for L.A. County’s yarn crawl.
Rising demand for business jets has prompted a modernizaton of Van Nuys Airport, with developers and tenants building the general aviation facility of the future.
Business jets are flying high and pushing development at Van Nuys Airport.
Van Nuys Airport takes off with the business world’s increasing use of private jets.