Stories for November 2017

Thursday, November 30

Azteca America Bought by New York Investment Firm

New York investment company HC2 Holdings Inc. has acquired Azteca America, the Spanish-language television network based in Glendale, the company announced Thursday.

Bankrupt Zetta Jet Closes After Judge Nixes Financing

A U.S. bankruptcy court has rejected new financing for Zetta Jet Pte. Ltd. and the company will cease operations Thursday, according to media reports.

Jet Edge Plans Move to New Headquarters

Aircraft charter and management firm Jet Edge International will relocate to a new headquarters building at Van Nuys Airport.

FilmL.A. Issues First Report on Soundstage, Backlot Production

Television series accounted for a majority of filming on soundstages and studio backlots in 2016, according to a new study released Thursday by FilmL.A. The study marks the first time FilmL.A. has analyzed production activity on soundstages and backlots.

Wednesday, November 29

Garcetti Talks Jobs, Transportation at Valley Business Lunch

L.A. Mayor Eric Garcetti spoke to Valley business leaders Wednesday to garner support for his initiatives at the United Chambers of Commerce of the San Fernando Valley’s yearly Mayor’s Luncheon.

New Hotel Part of Downtown Lancaster Upgrade

The city of Lancaster and InSite Development are moving on to the next phase of the resurgence of the downtown area with a new hotel and remodeling of existing businesses.

Semtech Slumps on Quarterly Results, Outlook

Semtech Corp. announced results for its fiscal third quarter and guidance that sent its stock down sharply Wednesday.

Tuesday, November 28

Goddard Group CEO Takes Leave Amid Sex Allegations

Gary Goddard has taken an immediate leave of absence from his eponymous entertainment design firm under a cloud of suspicion after being accused of sexual abuse by actor Anthony Edwards.

Credit Union Buys Burbank Office Building

An office building in Burbank has sold to Burbank City Federal Credit Union for $3.75 million, according to brokerage Lee & Associates-LA North/Ventura.

Wesco Misses Wall St. Estimates

Wesco Aircraft Holdings Inc. missed Wall Street estimates on adjusted earnings and revenue for the fiscal fourth quarter.

Monday, November 27

Fed Committee OKs Cinedigm Investment

A federal government committee will take no action on a deal involving a Hong Kong investment firm’s majority interest in entertainment content distributor Cinedigm Corp. in Sherman Oaks.

Doheny Eye Institute Buys Former Avery Dennison HQ

Doheny Eye Institute of Boyle Heights has acquired a four-story Pasadena office building for $50 million, according to brokerage Charles Dunn Co.

Valley’s Storyteller

Historian and PR pro Marty Cooper has worked for perfectionists Walt Disney, Hugh Hefner — and himself.

Valley public relations professional Martin Cooper.

Shooting in Vegas Vexes Valley CEO

Proximity to tragedy impacts showman’s food festival.

Woodland Hills event production firm owner impacted by Las Vegas shooting.

Big Princess Passes Thru New Canal

Cruise ship takes 3,200 guests from Caribbean to Pacific.

Princess Cruises takes its big ships through the widened Panama Canal.

Scorpion’s HQ

TECHNOLOGY: Digital execs see building as people pleaser.

Digital marketing firm Scorpion moves into new headquarters in Santa Clarita.

Will Sunkist Plan Bear Fruit?

Food: Combo of cooperatives expected to boost services.

Sunkist Growers Inc. shares management – and building – with logistics partner.

Businesses Bond Over Labor Law

Businesses unite in effort to change state’s labor laws.

Sauntering, But It Feels Like a Jog

Valley economy is growing but it doesn’t feel like it.

Around the Valleys

News and notes from the greater San Fernando Valley

Warner Center Grows from Q East to Q West

APARTMENTS: Dual project will add nearly 600 units to neighborhood.

Two mixed-use luxury apartment complexes totaling nearly 700 units are rising in the Warner Center neighborhood of Woodland Hills.

Office of Light

Gelb moves from cramped quarters to custom space.

Gelb Group designs a custom space for its employees in Warner Center.

Urgent Care Fills Retail Vacancies

Urgent care chains have moved into shopping centers, filling space stores leave empty.

Retiring Wisdom

Northridge Hospital Medical Center’s Saliba Salo.

Build Fever For Hospitals

Increasing demand and regulations have spurred a health care construction spree.

Hospitals are in a building frenzy in anticipation of more patients.

‘Light the Night’ Starts Holiday Shopping Season

Malls: Concert kicks off campaign for Village at Westfield Topanga.

The Village at Westfield Topanga in Woodland Hills kicked off the holiday shopping season Nov. 18 with a special program that featured the talents of local music groups and a visit from Santa Claus.

Chatsworth Warehouse Finds Work as Film Stage

production: Flexible studio space reports bookings from repeat customers.

Crimson Production Studios in Chatsworth has been up and running since the middle of October and already has proved as popular as its owners hoped.

Harman in High Fidelity

REAL ESTATE: Repositioned retro audio plant attracts new tenants, including Facebook.

Former audio plant is fixed up for industrial, office and retail tenants.

Friday, November 24

Coinstar Kiosks to Display Provision Holographs

Provision Interactive Technologies Inc. will incorporate its 3D holographic displays into kiosks operated by Coinstar LLC.

Mixed Use Valley Village Complex Sold for $2 Million

A combination office building and rental housing complex in Valley Village has sold for $2 million, according to commercial brokerage Marcus & Millichap.

Wednesday, November 22

iPayment Closes Financing for Acquisition

iPayment Inc., a provider of credit card payment services, has closed on a corporate refinancing with the proceeds partially funding its acquisition of Leaders Merchant Services, the company announced Wednesday.

Cheesecake Opens First Restaurant in Canada

Cheesecake Factory opened a restaurant outside Toronto, the Calabasas company’s first outlet in Canada, the company announced Tuesday.

Airport Commission Clears Van Nuys Construction Project

The Los Angeles Board of Airport Commissioners has accepted a report finding that construction of a new fixed-based operation at Van Nuys Airport will not harm the environment.

Tuesday, November 21

Woodbury Names Local Business Leader to Board

Woodbury University in Burbank has named Greg Lippe, an accountant based in Simi Valley, to serve as chairman of its board of trustees.

Pixar Exec Takes Leave for ‘Missteps’

John Lasseter, creative head of Walt Disney Co.’s Pixar Inc. and Walt Disney Animation Studios, will take a leave of absence from the company following allegations of inappropriate conduct in the workplace.

Dreamworks' Glendale Campus Sold

The campus of DreamWorks Animation in Glendale has been sold for $290 million to a partnership that includes South Korean investors.

Monday, November 20

Amgen Invests in Software Startup Syapse

Amgen Ventures, the investment arm of Thousand Oaks biopharmaceutical firm Amgen Inc., has invested an undisclosed sum in Syapse Inc., a San Francisco software company that has developed an integrative platform designed to streamline the “precision medicine” approach to cancer treatment.

Jamaica Hotel Buys Capstone Turbines

Capstone Turbine Corp. received an order for two of its microturbines for use at a hotel in Jamaica, the company announced Monday.

L.A. County Unemployment Falls in October

L.A. County’s robust labor market continued to gather steam in October as the unemployment rate fell to 4.7 percent from 4.9 percent in September and the county added 35,000 payroll jobs, the state reported Friday.

Friday, November 17

Nestle to Leave Glendale by July

In an updated filing with state regulators, Nestle USA said it will close its headquarters in Glendale on July 6, 2018.

Zetta Jet Finds Financier in Bankruptcy

Zetta Jet Pte. Ltd. has received $8.5 million from a company it owes money to, allowing the private aviation company to continue operations while working through bankruptcy.

California Resources Secures $1.3 Billion Loan

California Resources Corp. has closed a $1.3 billion loan facility, the company announced Friday.

Moorpark Industrial Building Sold

The Moorpark manufacturing and warehousing complex formerly occupied by Kavlico, the specialty sensor manufacturer now in Thousand Oaks, has been sold, according to brokerage Newmark Knight Frank.

Thursday, November 16

Lancaster City Council Supports Water Rate Reform

The Lancaster City Council has put its stamp of approval on the efforts of a grassroots campaign that seeks to reform the way rates are set by private water companies.

Economist Says Valley Growing Faster Than L.A. County

The San Fernando Valley is the bright spot in the Los Angeles County economy, an economist told attendees Thursday morning at the first San Fernando Valley Economic Forecast sponsored by the Business Journal and California Lutheran University.

Hospital-to-Home Clinic Opens in Sherman Oaks

Epic Medical Group has opened a clinic at Sherman Oaks Hospital to help close the gap between hospital stay and home for patients recovering from complex and chronic conditions, the company announced Thursday.

Wednesday, November 15

Semtech Helps Launch Internet of Things Academy

Semtech Corp. has joined with other technology companies and organizations to create a college curriculum based on its long-range radio frequency technology.

BlackLine, KPMG Form Partnership

BlackLine Inc. has formed an alliance with accounting powerhouse KPMG to sell their technology products to help improve accounting efficiencies.

Vegas Shooting, MGM Policies Impact Tix Corp.

Tix Corp. said the Las Vegas shooting and new ticket policies at the MGM hotel chain have impacted its revenue.

Realtors Association Posts Ads Opposing Tax Reform Bill

The California Association of Realtors has taken out full-page advertisements in major national news telling President Donald Trump and California’s congressional delegation that Trump’s proposed Tax Reform Plan would punish California residents should it become law.

Tuesday, November 14

Bristol Farms Opens in Woodland Hills

Bristol Farms has opened its first San Fernando Valley store at the El Camino Shopping Center in Woodland Hills, according to CBRE Group Inc. in Los Angeles.

Amgen to Lay Off 121

Amgen Inc. will lay off up to 121 workers at its California sites beginning Dec. 31, according to a notice filed in early November with the California Employment Development Department.

Tease photo

Private Equity Fund Buys Mendocino Farms

Private equity giant TPG Capital has acquired a majority stake in Studio City fast casual chain Mendocino Farms, TPG announced today.

Monday, November 13

Cusumano Sells Burbank Apartments for $59 Million

Cusumano Real Estate Group has sold a two-building apartment complex in Burbank for $59 million, according LA Commercial Agency/KW Commercial in Encino, which handled the deal.

Union Holds Protest in Warner Center

Workers and supporters of the local operating engineers union made themselves heard Monday morning during a protest at the Warner Center in Woodland Hills.

Cherokee Amends Credit Deal With Cerebus

Cherokee Global Brands has amended its agreement with lender Cerebus Capital Management to eliminate the need to raise $5.5 million in a special stock offering.

Fastest Fifty

Valley area’s quick-growing businesses include car dealers, other non-tech firms

Overview of fast-growth companies with profiles of the top names on the list.

Tease photo

Car Condos Spin Some Heads

REAL ESTATE: Collectors love extra space, fancy ambiance.

Developers find the formula for car collectors needing space for their possessions.

Tease photo

Blizzard Opens Esports Arena

ENTERTAINMENT: ‘Tonight Show’ venue gets rewired for games.

Strategy behind Blizzard Entertainment Inc.’s new esports arena in Burbank.

Simi Group Revives the Renaissance

Folk with 14th century interests gather for weekend event.

Businesses with medieval flair show their wares at Renaissance faire.

State Funds Chamber’s Job Training

Vulnerable employers could benefit from $187,000 grant.

Greater San Fernando Valley Chamber of Commerce secures state grant to train companies facing international competition.

Safety First For FedEx Contractor

Burbank delivery firm receives award from package giant.

FedEx contractor awarded for innovative safety record.

The Number

$18,298: Average cost of residential solar installation in L.A./Ventura counties.

\How much it costs to go solar in L.A. and Ventura counties.

Legal Diplomats

Law firms need managers with special people skills, say authors Andrew Elowitt and Marcia Watson Wasserman.

Q&A: Lawyer manager Marcia Watson Wasserman and attorney Andrew Elowitt on how to manage law firms

Throttle Bottle Offers Solution for Runaway Cars

AUTOMOTIVE: Invention could avoid costly accidents and manufacturer recalls.

A Porter Ranch resident has what he believes is a solution to the problem of unintended acceleration in vehicles – when a car zooms out of control and the brakes cannot overcome the power of the engine.

Amgen, Novartis Launch Alzheimer’s Drug Trial

PHARMA: Treatment could prevent symptoms, but prior therapies have failed.

Amgen Inc. and Swiss biopharma Novartis have launched a second clinical trial for their co-developed drug to prevent or delay the onset of Alzheimer’s disease in high-risk patients who are not yet showing symptoms.

Medical Tenants Revive Valley Office Market

REPORT: High visibility prompts health providers to pay extra for space.

The general office market in the Valley areas has seen better days, but the medical office market is healthy and improving.

Around the Valleys

News and notes from the greater San Fernando Valley

News and notes from the greater San Fernando Valley

Uncovering Little Gems Among Us

Small growing companies point to strength of Valley economy.

What Happens If We Don’t Build?

How apartment construction gives tenants bargaining power.

Calendar

Calendar of Events

50 Fastest Growing Private Companies 2017: USA Link System

Ad Campaigns Power Agency to List’s Top Spot

Largest Company and Star Performer winners.

50 Fastest Growing Private Companies 2017: Geolinks

Building Broadband Access for Rural America

Largest Company and Star Performer winners.

50 Fastest Growing Private Companies 2017: Payscout Inc.

‘Frictionless’ Transactions Translate to Growth

Largest Company and Star Performer winners.

50 Fastest Growing Private Companies 2017: Keyes Automotive

Keyes Automotive Finds Traction Post-Recession

SPECIAL AWARD – Largest Company winner

50 Fastest Growing Private Companies 2017: Account Control Technology Holdings Inc

Star Performer: At Account Control, Bills Make Good Business

SPECIAL AWARD – Star Performer winner

50 Fastest Growing Private Companies 2017: BRANDED OFFERS.com

An inside look at some of the top ranking companies.

50 Fastest Growing Private Companies 2017: LA SOLAR GROUP

An inside look at some of the top ranking companies.

50 Fastest Growing Private Companies 2017: RELIEF-MART INC.

An inside look at some of the top ranking companies.

50 Fastest Growing Private Companies 2017: KEYES woodland hills HYUNDAI

An inside look at some of the top ranking companies.

50 Fastest Growing Private Companies 2017: Goldco Precious Metals

An inside look at some of the top ranking companies.

50 Fastest Growing Private Companies 2017: IPI CONstruction

An inside look at some of the top ranking companies.

50 Fastest Growing Private Companies 2017: MOBILECAUSE

An inside look at some of the top ranking companies.

Friday, November 10

Newhall Ranch to Preserve 1,500 Acres for Wildflower

Newhall Land and Farming Co., developers of the proposed Newhall Ranch project in the Santa Clarita Valley, has agreed to preserve an additional 1,500 acres for a flower that grows there and only one other place.

Earnings: Tejon Ranch, Qualstar, Trio-Tech

Shares of Tejon Ranch, Qualstar and Trio-Tech rise after the companies report third quarter results.

Respawn Entertainment Acquired for $455 Million

Respawn Entertainment, the video game company behind the “Titanfall” franchise, has been acquired by Electronic Arts Inc. in a deal valued at up to $455 million.

Xcor Aerospace Files for Bankruptcy

Xcor Aerospace has filed for Chapter 7 bankruptcy and will liquidate its assets after failing to line up new investors.

Thursday, November 9

Limoneira Breaks Ground on 1,500 Home Project

Limoneira Co., an independent lemon grower in Santa Paula, began construction Wednesday on a master planned community some 10 years in the making.

Applebee’s Drags on DineEquity Earnings

Shares of DineEquity Inc. rose modestly Thursday following the release of the Glendale restaurant group’s third-quarter financial results, despite the company missing Wall Street expectations for earnings and revenue.

Disney Falls Short on Revenue, Earnings

Walt Disney Co. missed Wall Street estimates on earnings and revenue in the fourth quarter.

Judge Bans Westlake Village Telemarketing Firms

A federal court has entered an order banning three Westlake Village telemarketing companies from future phone sales activity, the Department of Justice announced Wednesday.

Construction Delays Impact Tutor Perini’s Q3

Construction firm Tutor Perini Corp. of Sylmar disappointed Wall Street Thursday with third-quarter earnings that missed estimates due to project delays.

Wednesday, November 8

Salem, MannKind Stocks Droop

The stock prices of both Westlake Village biotech MannKind Corp. and Salem Media Group in Camarillo closed down Wednesday following the companies’ disclosure of their third-quarter financial results.

Ralphs to Offer Local Delivery Through Instacart

Ralphs Grocery Co. is joining a number of retail chains that have partnered with delivery service Instacart to bring groceries to customers’ doorsteps in the San Fernando and Conejo valleys.

Blackstone Buys Again in Burbank

The New York City real estate investment firm Blackstone Group has grown its local portfolio with a recent purchase of a shopping center next to the Hollywood Burbank Airport.

Tuesday, November 7

CRC Shares Gain Another 13 Percent on Quarterly Results

After gaining 17 percent Monday, shares of California Resources Corp. moved higher Tuesday with a gain of more than 13 percent.

Vacant Chatsworth Building Sells for $23 Million

A 142,000-square-foot industrial building in Chatsworth on nearly 7 acres has traded for $23 million, according to California Realty Group in Santa Monica.

Disney Reverses Film Critic Ban

Walt Disney Co. has reversed a ban of Los Angeles Times critics from screenings of its films after it created a backlash from other media outlets and organizations.

Marcus & Millichap Increases Earnings, Revenue

Marcus & Millichap Inc. reported third-quarter results on Tuesday that beat Wall Street expectations.

Tutor Perini Wins Baltimore Bridge Contract

Tutor Perini Corp. has emerged as the low bidder for a bridge and tunnel project in Baltimore worth $189 million, the company announced Tuesday.

Monday, November 6

CRC Shares Gain 17 Percent on Quarterly Results, Higher Oil Prices

Higher oil prices, a narrower net loss and the chance of extending debt payment deadlines set share prices soaring Monday by 17-plus percent for Chatsworth energy producer California Resources Corp.

Photos from Fastest Growing Private Companies Event

Photos from Fastest Growing Private Companies Event

Reports: Disney, Fox Talk Merger

Walt Disney Co. and 21st Century Fox have had discussions to merge, according to media reports.

Van Nuys Airport Tenants Seek Trash Waiver

A group representing master tenants at Van Nuys Airport is seeking changes to how the city collects waste and recyclables at the San Fernando Valley airfield.

AV Hospital, Kaiser Extend Care Agreement

Kaiser Permanente Inc. physicians will continue treating patients at the Antelope Valley Hospital for at least another decade.

Friday, November 3

Amgen, Novartis to Test Alzheimer’s Drug

Amgen Inc. and Novartis International, a Swiss biopharmaceutical company, have launched a new clinical trial to assess the effectiveness of their co-developed drug for the prevention of Alzheimer’s disease in high-risk patients.

Majestic Sells Part of Agoura Hills Office Campus

Majestic Asset Management Inc. in Van Nuys has sold two of four buildings in the Agoura Hills creative flex campus it remodeled after buying the park last year.

U.S. Nuclear Signs Cross-Selling Agreement

U.S. Nuclear Corp. has signed a cooperation and marketing agreement with a Tennessee company to promote their complimentary nuclear safety products.

American Homes Posts Mixed Quarter

American Homes 4 Rent, the national single-family home landlord in Agoura Hills, reported third-quarter earnings with mixed results.

Thursday, November 2

Walmart Opens Training Academy at Santa Clarita Store

The Santa Clarita location of Walmart will host the mega-retailer’s first employee training academy in Los Angeles County, the company has announced.

Teledyne Shares Surge on Strong Quarter

Shares of Teledyne Technologies Inc. gained nearly 5 percent after the company beat Wall Street estimates on earnings and revenue in the third quarter.

NoHo Office Building Sold for $23.5 Million

North Hollywood’s Lankershim Media Center office building has traded hands for $23.5 million, according to CBRE Group Inc.

PennyMac Financial's Shrinking Earnings Beat Expectations

Westlake Village’s nonbank mortgage lender PennyMac Financial Services Inc. reported third-quarter earnings above Wall Street expectations and anticipates minimal losses from hurricanes and wildfires, the company announced Thursday.

Wednesday, November 1

B. Riley Merges Small Cap Investment Banks

B. Riley & Co. and FBR Capital Markets & Co. have merged and will now be known as B. Riley FBR Inc., it was announced Wednesday.

Valley Businesses Petition City on Homeless Issue

More than 600 business and property owners have signed a petition asking for the city of L.A.’s help in dealing with increasing homelessness in Chatsworth and Northridge.

Hurricanes Hit Cheesecake's Quarterly Performance

Cheesecake Factory Inc. missed Wall Street estimates on earnings and revenue in the third quarter with results suffering the effects of three hurricanes, the company announced Wednesday.

Jo Anne Darcy, Former Santa Clarita Mayor and Chamber Exec, Dies

Jo Anne Darcy, a four-time mayor of Santa Clarita and former executive director of the chamber, died Sunday. She was 86, according to media reports.