Stories for March 2018
Friday, March 30
As the new dean of the Nazarian College of Business and Economics at California State University-Northridge, Chandra Subramaniam is looking to build on the school’s strongest assets.
Chinese investment in U.S. real estate last year declined by more than half, according to a Cushman & Wakefield report.
Valley legal community leader and former California Supreme Court Justice Armand Arabian passed away Wednesday morning at his home, his family confirmed Friday.
Thursday, March 29
Two new direct tenants, Formosa Group, and Rethink Leisure & Entertainment, have signed leases at Hanhai Civic Plaza in downtown Burbank, according to a Cushman & Wakefield release.
Amgen Inc.’s leukemia drug Blincyto has become the first drug to be approved by the Food and Drug Administration for use in a subgroup of leukemia patients who are at a high risk of relapse following initial treatment.
Wednesday, March 28
McDonald’s senior executive Steve Levigne will join Applebee’s Neighborhood Grill and Bar as vice president of insights and analytics, Applebee’s parent company Dine Brands Global Inc. announced Tuesday.
Chatsworth-based lighting firm Lamps Plus has entered into an endorsement partnership with L.A. Dodgers utility player Enrique “Kiké” Hernandez and his fiancee
Teledyne ISCO, a subsidiary of Teledyne Technologies Inc. in Thousand Oaks, has established a new contract with the Kuwait Ministry of Public Works that will see the company’s flow monitoring solutions integrated into the country’s wastewater reclamation system.
Tuesday, March 27
Calabasas-based Marcus & Millichap has announced the sale of Lancaster Village, a 13,463-square foot retail property located at 1137 West Avenue I in Lancaster.
BLDG Partners has purchased 52 remaining live-work units at the Universal Lofts complex in Studio City in a $39 million acquisition, according to the Real Deal.
Partly because of the rise in the minimum wage, Johanson Dielectrics Inc. is opening a new plant in Tijuana, Mexico and transferring jobs to it from the San Fernando Valley and Ventura County.
Monday, March 26
In a 10-year lease transaction, Eikon Group, a London-headquartered post-production company which did technical creative work on such tentpoles as “Blade Runner 2049” and “Spider Man: Homecoming,” will occupy 20,000 square feet of flex and office space at Burbank Media District-North, Colliers International announced on Monday.
AeroVironment Inc. announced Monday it was taking orders for the updated version of its Puma small unmanned aircraft system used by the military.
Friday, March 23
L.A. County’s unemployment rate in February was 4.5 percent, unchanged from January amid broad-based job gains for the month, according to state figures released Friday.
A Glendale man who ran the music sharing site Sharebeast.com was sentenced to prison Thursday for criminal copyright infringement, the Justice Department has announced.
Sienna Biopharmaceuticals Inc., an aesthetic dermatological product company based in Westlake Village, has hired Allergan Inc. senior marketing manager Caroline Van Hove as its chief commercial officer.
ServiceTitan, a Glendale-based software app for service professionals, announced $62 million in Series C funding.
Thursday, March 22
U.S. Nuclear Corp. has received orders totaling more than $400,000 for its new tritium monitors, the company announced Thursday.
Second Sight Medical Products Inc. has named John Blake as its new chief financial officer.
Isaac Larian, chief executive of Van Nuys toy manufacturer MGA Entertainment Inc., has along with unnamed investors pledged $200 million to an online public crowdfunding campaign he created to save Toy R Us as it files for bankruptcy.
Wednesday, March 21
Sienna Biopharmaceuticals Inc. has hired John Smither as chief financial officer, returning him to a position he previously held.
A 26-unit multifamily property in Burbank has sold for $8.35 million, according to L.A.’s Re/Max Commercial & Investment Realty office.
Walt Disney Co. will introduce new theme park lands based on Marvel Studios characters at its parks in California, Paris and Honk Kong.
Geolinks has acquired fixed wireless broadband provider Vectus Inc., expanding its customer base to more than 3 million people throughout Orange, San Bernadino, Riverside and Los Angeles counties.
Tuesday, March 20
Bel Air Internet has acquired Woodland Hills-based commercial internet and telephone provider Polaris, the company announced Tuesday.
A shopping center at 23460 Cinema Drive in Santa Clarita has sold for $9.2 million, or $284.45 a square foot, according to Calabasas brokerage Marcus & Millichap Inc.
A subsidiary of Teledyne Technologies Inc. is partnering with a Dutch company to produce a membrane used to fabricate semiconductors.
Monday, March 19
For a 2017 string of bank robberies in the Santa Clarita Valley and elsewhere, the man called the “Seasoned Bandit” by law enforcement was sentenced March 15 for allegedly stealing a combined $39,424 from 11 banks.
The city of Los Angeles has approved L.A. developer Frost/Chaddock to build a five-story multifamily residential complex in Toluca Lake with a total 96 residential units, including eight very-low-income apartments.
Fifteen thousand workers in California – including more than 700 in Northridge – have ratified a new contract with Dignity Health, according to Service Employees International Union – United Healthcare Workers West.
The March 14 Chapter 11 bankruptcy filing of iHeartMedia could have a major long-term impact on the Los Angeles radio market.
Health CARE: NoHo firm helps plans communicate in culture.
NoHo company specializes in communications for non-English-speaking patients.
Different cuisine, new locations, social media – they’re part of the rebranding campaign at Applebee’s.
Glendale corporation changes more than its name under new leadership.
AVIATION: Tax liability pushes defense manufacturer to a loss.
Analyst updates on Aerovironment.
Franchising: Encino restaurateur believes fast-foodies want variety on a bun.
Sherman Oaks-based fast-food chain sets its sights on California’s burger market.
Woodland Hills-based network airs show on sports, travel, lifestyle.
Three Valley golfers host a syndicated show.
Northridge company intends to reconfigure fluorescent lighting with dimmers.
Development: Pair of projects face pushback from residents.
Mixed-use projects in Calabasas and Agoura Hills stir up locals.
Most Californians view on-demand rideshare platforms such as Uber as a helpful tool to simplify their commute.
It is fair to say that admissions policies in higher ranking universities and colleges have predominantly favored high-achieving applicants.
Research: New tax law will help real estate but higher rates may hurt.
Economist forecast anticipates impact from automated vehicles.
LIST: Cybercrime joins natural disasters as major cause for filing claims.
Insurance brokers identify industry trends for 2018.
REAL ESTATE: Low vacancy for retail space forecast to push up rents this year.
New shops at Valencia Town Center.
INNOVATION: At month-long event, speaker tells ‘where the future is going.’
Students compete to address applications of artificial intelligence.
AWARDS: Judges take home trophies for hard work on growing caseloads.
Bar association honors the honorable at ‘Judges Night’ awards ceremony.
Former ‘Dallas’ actress Danone Simpson finds purpose in helping people understand their insurance benefits.
Danone Simpson talks about her journey from TV actress to insurance executive.
Friday, March 16
Sylmar medical device firm Second Sight Medical Products Inc. has appointed Gregg Williams, the company’s largest shareholder, as chairman of its board of directors.
Universal Holdings in Century City has paid $22.7 million for a San Fernando Valley multifamily portfolio with a total of 123 units.
Qualstar Corp. shares jump 25 percent after the company reports fourth-quarter revenue gains.
Salem Media Group Inc. reported a decrease in revenue but an enormous jump in net income because of tax reform.
Different cuisine, new locations, social media – they're part of the rebranding campaign at Applebee's.
Thursday, March 15
Chandra Subramaniam is the new dean of the Nazarian College of Business & Economics at California State University – Northridge.
SnapMD has announced a partnership with the National Center for Telehealth at the University of Mississippi Medical Center for use of the company’s proprietary software.
The share price of Semtech Corp. leapt Thursday, a day after the company reported beating Wall Street expectations on adjusted earnings and revenue.
MGA Entertainment Inc. and a group of affiliated investors have made a bid to acquire the operations of bankrupt Toys R Us in Canada.
Wednesday, March 14
The 130-unit Stillmore Apartments in Santa Clarita has sold for $21.7 million, or $167,036 per unit, according to CoStar Group.
A subsidiary of Teledyne Technologies Inc. received an extension of a contract with NASA to provide support services for the International Space Station.
Walt Disney Co. has restructured its business units, including folding consumer products into its theme park business.
Tuesday, March 13
California State University – Northridge has hired Mark Gottfried as head coach of the Matador Men’s Basketball Team, the school announced Tuesday.
Bobrick Washroom Equipment Inc. has settled a lawsuit with a competing bathroom manufacturer in a case over code compliant partitions.
The share price of BlackLine Inc. fell after the company announced the sale of more than 8 million shares of common stock at a price of $41.50.
California Assemblywoman Jacqui Irwin has named Greater Conejo Valley Chamber of Commerce Chief Executive Jill Lederer the 2018 Assembly District 44 Woman of the Year.
Monday, March 12
Tejon Ranch Co. reported its fourth-quarter and full-year earnings on Monday, according to the company.
Five San Fernando Valley residents allegedly extorted more than $17 million from cash-strapped homeowners through a real estate scheme involving fraudulent deeds, according to federal authorities.
Chatsworth builder Daniel Bernstein & Associates Inc. has paid $1.1 million for a downtown Phoenix property with plans for infill housing, according to Bisnow.
MannKind Corp. has restructured its debt, reducing its outstanding principal by $14.5 million through equity swaps, the company announced Monday.
Friday, March 9
Customer credit card data at nearly 170 locations of Applebee’s Bar & Grill may have been stolen by hackers, one of the restaurant chain’s largest franchisees has announced.
West Coast Customs will feature the customized Lexus from the movie “Black Panther” at the DUB Custom Car Show in Los Angeles this weekend.
L.A. County’s unemployment rate edged back up to 4.5 percent in January from 4.4 percent in December as local employers shed holiday season workers.
Thursday, March 8
Marcus & Millichap reports higher annual revenues, while Limoniera benefits from tax reform.
Walt Disney Co. shareholders rejected the compensation plan for Chief Executive Robert Iger and other executives at its annual meeting in Houston on Thursday.
PS Business Parks Inc. has sold the Corporate Pointe Business Park in Orange County.
Walt Disney Co. is dedicating $100 million toward putting its brand in children’s hospitals through products, services and cash donations.
Wednesday, March 7
California State University – Northridge Athletics Director Brandon Martin was let go from his position on Wednesday, according to the school.
Acquisitions set the stage for B. Riley Financial Inc. to deliver an 18 percent increase in the fourth quarter, the company announced Wednesday.
Walt Disney Co. has partnered with Accenture on a project to create new entertainment technology.
Tuesday, March 6
AeroVironment Inc. beat Wall Street expectations on revenue in the fiscal third quarter but fell short on earnings.
Richard Lie is the new president and chief executive of Los Angeles Federal Credit Union, the organization’s board announced Monday.
The prosthetic visual system built by Second Sight Medical Products Inc. is now covered by Medicare in Alabama, Georgia and Tennessee, bringing the total number of states where the product and related surgical procedure are covered by the government-subsidized health insurance program to 31.
PennyMac Financial Services Inc. has named Anne McCallion, the company’s chief enterprise operations officer, to its board of directors, the company announced Tuesday.
Monday, March 5
Capstone Turbine Corp. of Chatsworth received an order for 13 of its microturbines for use in an industrial park in western Russia.
Best Buy Co. plans to close all 257 of its stand-alone mobile phone stores in the United States, the company announced Wednesday.
A Westlake Village retail building that his home to Rolling Oaks Child Development Center has sold for $3.3 million, or nearly $427 a square foot, in a deal closed Jan. 26, according to CoStar Group.
A Van Nuys warehouse that is home to ice manufacturers has sold for $2.9 million (or $202 a square foot) in a deal closed Feb. 21, according to CoStar Group.
FOOD: Real Good brand on the shelves at 5,000 stores.
Real Good Foods Co. in Glendale serves up low-carb, high-protein frozen pizzas.
REGULATION: Council weighs options amid complaints about franchise hauling system.
Los Angeles City Council weighs options about waste hauling system.
California Lutheran University consults with area businesses to offer new degree in hospitality.
A clutch of companies in Santa Clarita make nerve stimulation devices to treat conditions from depression to multiple sclerosis.
Cluster of neuromodulation companies growing in Santa Clarita.
California Congressional Republicans have gotten themselves into a bit of a pickle.
CONFERENCE: Speakers address how to adapt to Nestle exodus.
Glendale office market on an upswing.
LIST: Firms hire more attorneys to handle expanding caseload.
Hiring: Hiring Labor Lawyers - Employment law brings more work and attorneys to Valley firms.
LABOR: Call center closure prompts union to raise awareness statewide.
Kaiser workers stage protest over impending layoffs.
ENERGY: Aerolease install the first of many for the airport tenant.
First solar project underway at Van Nuys Airport.
From columned mansions to wind-swept meadows, Rob Gibson finds the right setting to bring filmmakers’ dreams to life.
Q+A with location manager Rob Gibson.
Film ranches cater to directors’ evolving appetite for fresh locations in proximity to Hollywood.
Movie ranches in Valley region see an increase in film production.
CONSTRUCTION: Public design-build deal biggest in New Jersey history.
A Tutor Perini Corp. partnership to build a New Jersey airport has landed a $1.4-billion commitment from the Port Authority of New York and New Jersey, and analysts of the Sylmar-based construction company are calling the contract “a material positive.”
Friday, March 2
Mustang Marketing in Thousand Oaks plans to acquire ZestNet Inc., a traditional and digital marketing firm based in Ventura.
Former Walt Disney Co. executive Anne Gates will join the board of directors of Raymond James Financial, Inc., the financial services firm announced Friday.
B. Riley Financial Inc. has named Chuck Hastings as director of wealth management strategic initiatives, the company announced Friday.
Film ranches fill demand for scenery as productions return to California.
Thursday, March 1
Teledyne Technologies Inc. in Thousand Oaks is expanding the manufacturing capacities of its subsidiary Teledyne DALSA Inc. to accommodate increased demand for its products.
A Ventura County Superior Court jury awarded AeroVironment Inc. more than $2 million after finding three former employees engaged in fraud and breached patent and confidentiality agreements.
SPI Holdings has purchased the sprawling 324-unit Warner Villa apartment complex near the Warner Center for $96.5 million, according to The Real Deal.
The first collective bargaining agreement in the U.S. electric bus industry was signed Thursday between BYD Coach & Bus and the International Association of Sheet Metal, Air, Rail and Transportation Workers Union Local 105.