Stories for November 2012
Friday, November 30
Anthony International, a Sylmar maker of glass refrigerator doors, has been acquired by Illinois manufacturer Dover Corp. for $603 million.
Northrop Grumman Corp. is offering buyouts to employees at its Navigation Systems facility in Woodland Hills as a response to Pentagon budget cuts and economic uncertainties.
Thursday, November 29
Christian broadcaster Salem Communications Corp. declared an early cash dividend for the fourth quarter, joining a growing number of companies speeding the payments to avoid possible tax obligations for investors.
Jewelry design and manufacturing company Zalemark Holding Co. has created a subsidiary to provide a home shopping channel aimed at Hispanic viewers of the MundoFox television network.
Wednesday, November 28
Semtech Corp. beat analyst revenue estimates in its fiscal third quarter, but the Camarillo semiconductor manufacturer fell short of forecasted earnings
Walt Disney Co. said Wednesday that it was raising its annual dividend by 25 percent to 75 cents a share following a successful year for the company.
Keith Leonard, the chief executive of Kythera Biopharmaceuticals Inc., rang the Nasdaq opening bell Wednesday in New York, as the company announced positive results from clinical trials of its leading drug candidate.
Tuesday, November 27
Agoura Hills tech company Nomadix Inc. announced Tuesday that it has settled a patent infringement lawsuit it brought against computer giant Hewlett-Packard Co. in 2009.
Great American Group Inc. has been appointed to run Comet, a chain of 236 stores in the United Kingdom.
Warner Bros. Entertainment will continue to co-produce and co-finance feature films with Village Roadshow Pictures Group as the two companies have extended their partnership for another five years.
Monday, November 26
Shares in DreamWorks Animation SKG Inc. fell on Monday for a fourth consecutive day following a weak opening weekend for its latest film, “Rise of the Guardians.”
Ceres Inc., a developer of seeds for energy crops, announced Monday that its Brazilian subsidiary has partnered with Swiss company Syngenta AG to develop sweet sorghum for ethanol production in Brazil.
Health Care: Mending Kids raises $100,000 plus for children’s surgeries.
What does the “Mentalist” do when he’s not reading people’s minds? He likes to help kids.
Specialty: Sherman Oaks forensic partners mark 25 years with expansion.
Sherman Oaks accounting firm White, Zuckerman, Warsavsky, Luna & Hunt marked 25 years in business this year, longevity that senior partner Paul White credits to two things.
Entertainment: Technicolor to lay off up to 60 workers at video processing facility.
ENTERTAINMENT: TechniColor closes Burbank facility and may lay off as many as 60 workers.
Apparel: Woodland Hills’ Talon swings to profit after deal with Fat Face.
APPAREL: Zipper manufacturer Talon International moves forward after closing a long legal battle.
Market Watch Summary
Stocks were down across the board for the two-week period ended Nov. 20.
News and notes from around the greater San Fernando Valley area
The city of Lancaster approved a program called “Spice up Lancaster” on Nov. 13 to boost restaurant growth in the region.
Charities: Large area groups adopt business mentality after recession.
STORY: As donations have dwindled, savvy nonprofit managers have created new revenue streams. Includes SFVBJ's 2012 VALLEY'S LARGEST FIXED BASED OPERATORS list for download (pdf)
Commercial: Cassidy Turley raids NAI Capital for team to build suburban business.
Cassidy Turley Inc., a development and brokerage firm that entered the Los Angeles market this year with the opening of a regional office downtown, has set its sights on the San Fernando and Conejo valleys.
Jerry Stoffers built Arte de Mexico into a supplier of exotic imported furnishings – to buyers from Madonna to Vegas hotels.
PROFILE: A surf trip south of the border inspired Jerry Stoffers to start Arte de Mexico, a furniture and interior décor company in Burbank.
Andrea Michaels’ Extraordinary Events counts big corporations as clients, but she’s had to adapt since the recession.
ENTREPRENEUR: Andrea Michaels shares war stories from the front lines of the corporate event production business.
Development: Dinerstein clears Panavision site for upscale Warner Center apartments.
DEVELOPMENT: Dinerstein Cos. plans to put 395 apartments on the site of former Panavision headquarters in Warner Center.
Father-son team aim to tune up brands with Write On Cue Music.
MARKETING: Family business writes music cues that communicate a company’s identity.
Real estate executive pursues passion for music with orchestra.
EVENTS: Harry Selvin directs an orchestra when he’s not running his namesake real estate company.
Firm’s text-to-pledge technology rings up disaster donations.
MOBILE: Hurricane Sandy whips up business for MobileCause, a firm that processes text-to-pledge messages.
AVIATION: City agency works on plan to redevelop property in Van Nuys.
AVIATION: City officials, business groups and tenants try to figure out what will fly at Van Nuys Airport.
BIOTECH: Atara spinoff to take pipeline drugs from giant firm.
BIOTECH: Amgen is sharing the risks – and rewards – of its pipeline drugs with startup Atara Biotherapeutics.
INTERNET: Publishers have last word with $6.6 million verdict.
INTERNET: Song lyrics have become big business. A legal judgment may help local music publishers finally get their due.
Nonprofit rebrands in tight senior care market
NONPROFIT: A Valley charity focused on senior care changes its name to reach a larger audience.
Co-founders bring ancient skills to Net with Zabellos.com
FOOTWEAR: Zabellos.com brings a high-tech marketing spin to the shoe repair sector.
Wednesday, November 21
Cable sports network ESPN signed a deal to broadcast college playoff games and championship games for 12 years.
SolarWorld USA, the country’s largest solar panel manufacturer, has laid off 23 employees at its Camarillo office, with additional employees being laid off at its Hillsboro, Ore. plant.
Apollo Medical Holdings Inc. has signed a service agreement to provide hospitalist services for California Hospital Medical Center in Los Angeles.
Tuesday, November 20
Energy crop company Ceres Inc. significantly narrowed its losses in its fiscal fourth quarter, ended Aug. 31 but reported lower revenue as collaborations and international demand for its seeds declined.
Video game publisher THQ Inc. is in negotiations with a financial organization regarding financial alternatives for the struggling company.
Three credit unions have taken a controlling interest in the small business and commercial real estate loan subsidiary of the shuttered Telesis Community Credit Union.
Monday, November 19
Trio-Tech International Inc. said Monday it narrowed its fiscal first quarter loss, the result of cost cutting and improvement in its core semiconductor test equipment business.
A subsidiary of Teledyne Technologies Inc. received a contract to provide Dow Chemical Co. with management and support research services at three locations.
Friday, November 16
Home furnishings retailer Ikea plans to build a massive store in Burbank less than a mile from its current location in the city’s downtown.
The decision by Hostess Brands Inc. to shutter all its operations will result in the closure of Hostess outlets stores in Camarillo, Glendale and Chatsworth.
IPC the Hospitalist Co. has acquired GLT Medical Services Ltd., a post-acute doctors’ practice in Toledo, Ohio.
Nielsen Benefits Group has merged with Digital Insurance, an Atlanta company that uses the Internet and software to manage employee health benefits for small businesses.
Thursday, November 15
Warner Bros. Pictures will release up to 20 films in the large-screen IMAX format over the next three years under an agreement with IMAX Corp.
Dole Food Co. Inc. reported on Thursday that it narrowed its loss in the third quarter, but it still missed analysts’ estimates, which it blamed on poor weather conditions and unfavorable foreign exchange rates.
Pharmaceutical software developer Simulations Plus Inc. reported increased profit and revenue in its fiscal fourth quarter, boosted by growth in its consulting and training business.
Wednesday, November 14
Panavision Inc. announced Wednesday it has named Kimberly Snyder as the company’s chief executive, the fifth time since 2009 the venerable Hollywood supplier of cameras and lenses has made a change in leadership.
Aircraft parts distributor Wesco Aircraft Holdings Inc. beat analyst expectations in its fiscal fourth quarter, helped by an acquisition and strong international sales.
Pratt & Whitney Rocketdyne has received a $2.3 million U.S. Defense Department contract to build a high-tech solar plant at Edwards Air Force Base.
Tuesday, November 13
Qualstar Corp., a maker of data storage and power supply systems, failed to meet earnings expectations in its fiscal first quarter, a miss management blamed on a summer proxy battle.
Newly public Kythera Pharmaceuticals Inc. announced a higher-than-expected loss in the third quarter, which it attributed to the costs of enrollment in clinical trials for its primary pipeline drug.
Walt Disney Co. is providing two of its best-selling mobile games to the Chinese market in an agreement with a Chinese mobile-gaming and handset company.
MannKind Corp. announced on Tuesday that it has signed a licensing deal worth some $140 million that allows a San Jose company to take over development and production of a novel cancer treatment.
Monday, November 12
The loss of three Las Vegas shows and the closure of one of its discount ticket kiosks contributed to lower third quarter revenue for Tix Corp.
Agricultural biotech Ceres Inc. has received a $3.5 million grant to fund further research in Asia for the U.S. Agency for International Development.
BAE Systems plc completed the 300th conversion of an F-4 Phantom fighter jet into a remote-controlled aerial target used by the U.S. Air Force for weapons testing and aircraft training.
Photographs of recent business-related events in the valleys, including parties, awards dinners, benefits and other celebrations.
Sepand Samzadeh’s family fled Iran after the revolution. Now he and his father are togther again leading Valley Recycling to success.
PROFILE: A Q&A with Sepand Samzadeh, co-chief executive of Valley Recycling.
Carol Moran has led A-1 Textiles & Hospitality Products beyond towels to soak up gains for her company.
ENTREPRENEUR: Carol Moran, founder of A-1 Textiles in Pacoima, finds new ways to stay ahead of linen trends.
Biotech: Biotech giant’s stock reaches historic high after positive news.
BIOTECH: Amgen is impressing investors with clinical trial news and dividends.
NorthStar Moving on revenue roll assisted by luxury service.
SERVICE: NorthStar Moving has seen rapid growth by hauling anything for a price.
Services: Low rates propel growth at pay processor Elite Merchant Solutions.
Services: Elite Merchant Solutions gives the credit for its growth to the business of processing card transactions.
Tech: McBain Systems, leading Leica distributor, now does manufacturing.
TECH: Expanding Simi Valley manufacturer puts semiconductor industry into focus.
Recording engineer’s career stories click with Amazon readers.
ARTS: Sound engineer Ken Scott’s memoir about his adventures with the Beatles, Bowie and Pink Floyd becomes a hit of its own.
Spotlight’s service helps clients get down to business at games.
SALES: Calabasas firm Spotlight Ticket Management makes managing sports tickets a slam dunk for businesses.
KidMeasure product makes it a rule to keep parents’ walls clean.
RETAIL: Parents can close the door on marking their kids’ heights thanks to a new measuring device.
Real Estate: Holland eyes empty lot as home for retail and apartments.
REAL ESTATE: Holland Partner Group plans to develop an eyesore of a lot in downtown Glendale.
The city of Los Angeles must take swift action to reject a court ruling that would cost the city and local businesses hundreds of thousands of dollars.
FASTEST: Tech companies dominate the Business Journal’s list of Fastest Growing Private Companies. Includes SFVBJ's 2012 VALLEY'S FASTEST-GROWING PRIVATE COs list for download (pdf)
HEALTH CARE: Time Warner employee raises money for eighteenth straight year.
There’s no slowing down Marty Adebowale, a Reseda resident and collections supervisor at Time Warner Cable Inc., the largest cable TV provider in the San Fernando Valley.
Office: Blackstone Group sinks $61 million into former MPG buildings.
Two Glendale office buildings lost by MPG Office Trust Inc. are getting a major facelift now that they have been acquired by Blackstone Group L.P. out of foreclosure.
DEALERSHIP: An in-depth look at Galpin Motors’ venerable San Fernando Valley auto business.
Website host gains ground with global staff
INTERNET: Calabasas website hosting firm Arvixe is No.1 on the list.
Autos: Boeckmanns replicate Ford success with Japanese make.
AUTOS: Owners of top Ford dealership work their magic with Honda store.
MANUFACTURING: Dynamic Automation is a growing manufacturer serving the pharmaceutical industry.
News and notes from around the greater San Fernando Valley area
Parker-Brown Inc., a Canoga Park construction firm, is building a six-story parking garage in Hollywood.
Construction: Agency nixes new facility but plans extensive renovation.
The Federal Aviation Administration has decided against building a new control tower at Van Nuys Airport.
Friday, November 9
St. Jude Medical Inc. has notified 114 employees at its Sylmar medical device manufacturing facility that their positions will be cut by the end of the year.
Shares of Public Storage Inc. rose after the operator of storage units released third quarter results that beat analyst forecasts.
Christian broadcaster and Internet content provider Salem Communications Corp. beat earnings but failed to meet revenue forecasts for the third quarter.
LTC Properties Inc. said its revenue increased in the third quarter largely due to increased rental fees from recently acquired properties.
Thursday, November 8
Walt Disney Co. met analysts’ earnings estimates but slightly missed revenue projections in its fiscal fourth quarter, with a decrease in worldwide theatrical box office a contributing factor.
Shares of Point.360 fell 17 percent Thursday after the company announced a loss in its fiscal first quarter.
First California Financial Group Inc. is being acquired by PacWest Bancorp in a deal valued at $231 million. The deal would make the combined financial institutions the eighth largest publicly-held bank headquartered in California.
Global Eagle Acquisition Corp. is purchasing in-flight Wi-Fi provider Row 44 Inc. in a $430 million deal that will pair it with a German company that provides entertainment content to air travelers.
Wednesday, November 7
The trade group for the adult entertainment industry will challenge in court the legality of a ballot initiative passed in the Nov. 6 election that would require male performers to wear condoms during filming.
Sport Chalet Inc. reported third-quarter profit that beat Wall Street forecasts Wednesday, thanks in part to increased online sales.
Rocket engine manufacturer Pratt & Whitney Rocketdyne cut 100 salaried and hourly positions Wednesday as a response to an uncertain future of the space industry and the general economic climate.
Tuesday, November 6
Shares in video game publisher THQ Inc. dropped by 50 percent, an apparent response by investors to the company’s need for additional financing to release its games.
Whole Foods Market Inc. is moving its regional headquarters to Glendale, taking space at an empty office building constructed in 2009 by MPG Office Trust Inc.
Walt Disney Co. raised more than $16.8 million when its broadcast properties hosted a “Day of Giving” to aid American Red Cross efforts following Hurricane Sandy.
Monday, November 5
Amgen Inc. said Monday it had received positive results from clinical tests of an experimental heart medication that it hopes will be one of its next blockbuster drugs.
THQ Inc. beat analysts’ estimates for the quarter as its sequel to its “Darksiders” video game became a top seller. But the company also said it is pushing back the release date of future games as it seeks financing.
energy: Boeing Co. unit in Sylmar eyes terrestrial market for advanced cells that have powered Mars rover.
energy: Spectrolab is bringing its solar cells back from Mars and into more terrestrial applications on Earth.
Friday, November 2
MannKind Corp. reported a narrower third-quarter loss than analysts projected, but reported higher operating costs as the company prepares for another round of clinical trials on its inhaled insulin drug.
Three local Internet companies beat analyst expectations with their third-quarter financial performance, causing an upswing in share price for all three.
Cinedigm Digital Cinema Corp. has entered into a content distribution partnership with Alloy Digital, the New York owner of the YouTube comedy channels ClevverTV and Smosh.
Shares of DreamWorks Animation SKG Inc. were trading higher Friday following the studio’s third quarter earnings, boosted by the company’s box office hit, “Madagascar 3: Europe’s Most Wanted.”
Thursday, November 1
Wheel manufacturer Superior Industries International Inc. reported a higher-than-usual profit in the third quarter, helped along by a settlement with the Mexican government over an earlier tax audit.
Westlake Village shoemaker K-Swiss Inc. reduced its losses to less than $2 million in the third quarter, beating analysts’ estimates by a wide margin and sending shares up 36 percent on Thursday.
Crown Media Holdings Inc., the parent of cable TV’s Hallmark Channel, reported sharply lower earnings in the third quarter but investors shrugged off the news.
Walt Disney Co. said Thursday it would contribute $2 million to the relief and rebuilding effort after Hurricane Sandy, with $1 million going toward the American Red Cross for immediate assistance.