Stories for July 2016
Friday, July 29
In what may be its final earnings report as a stand-alone company, ReachLocal on Friday announced a second-quarter net loss that was much narrower than a year ago.
More single-family homes sold in the San Fernando Valley in June than in any June in four years, according to the Southland Regional Association of Realtors Inc.
Thursday, July 28
L.A.-based industrial real estate investor Rexford Industrial Realty Inc. has added a nearly 60,000-square-foot industrial building to its Valley portfolio.
Talon International, Inc. announced the appointment of a new chief strategy officer on Thursday.
Public Storage misses expectations; Second Sight reports a loss.
Health insurer Anthem Blue Cross has implemented temporary revised medical and pharmacy guidelines for policyholders affected by the Sand wildfire in Santa Clarita, the company announced Wednesday.
Wednesday, July 27
Amgen Inc. on Wednesday reported second-quarter financial results, exceeding Wall Street’s expectations.
Revenue increased 25 percent at On Assignment, shares of Avery Dennison gain, and PS Business Parks missed expectations.
Tuesday, July 26
Frustration, or perhaps desperation, broke into the open Tuesday afternoon when city and county officials tried to explain new minimum wage ordinances to Valley-area business operators who said they were exasperated with the suddenness, complications and expense of the new rules.
The site of the former Voyager Motor Inn in Van Nuys has been sold to an apartment developer, according to New York commercial real estate brokerage Berkadia.
Content delivery network MaxCDN of Studio City has been acquired by web security startup StackPath, the company announced Sunday.
Monday, July 25
Customer service software developer TouchCommerce has been acquired by Nuance Communications Inc. in a deal valued at $215 million, the companies announced.
A shopping center in Valencia has changed hands for $58 million, a nearly 43 percent increase over what it sold for five years ago.
A wildfire that broke out along the northbound 14 Freeway near Sand Canyon has charred more than 33,000 acres of the Santa Clarita Valley since Friday, officials said at a press conference Monday morning. It remains only 10 percent contained.
Walt Disney Co. is replacing its Twilight Zone Tower of Terror attraction with one based on characters from its 2014 hit film, “Guardians of the Galaxy.”
A Sherman Oaks apartment building has sold for $8.55 million following an upgrade, according to L.A.-based Re/Max Commercial & Investment Realty.
Goodwill helps businesses comply with ADA.
Goodwill extends hand to businesses to follow disability regulations.
Government’s well-intended regulations may have driven small public companies to new, larger owners.
Sports and business both reward those who learn skills to compensate for what nature didn’t give them.
How success in baseball can translate to business.
Eliminating poverty: private enterprise and the minimum wage.
Technology: Chester Wang bought a firm in debt but found ways to straighten it out.
Dolphin Imaging maneuvers turnaround after new owner replaces hardware focus with software.
With Hollywood studios booked, producers look to Simi and San Fernando valleys for affordable space as developers and property owners hustle to meet demand.
Filming’s rebound brings opportunities for Simi Valley and the San Fernando Valley.
News and notes from the greater San Fernando Valley
Antelope Valley Hospital has named Ronald Bingham as its new chief operating officer.
How does your area measure up?
MARKETING: Payments for promotional videos not transparent, Feds allege.
In the film version of “The Lord of the Rings: The Fellowship of the Ring,” the character Boromir comments that one does not simply walk into Mordor.
BIOTECH: Agency proposes to pay $150,000 for Sylmar company’s vision system.
Boost in Medicare reimbursement sends Second Sight stock soaring.
Women, cat lovers and new readers gather at Burbank retailer.
Perky Nerd comic book shop targets newbies and women.
Off-campus offices, broad mission aims to encourage startups.
L.A. Cleantech Incubator takes space near CSUN.
HEALTH CARE: Nonprofit’s footprint must keep up with patient count.
Kaiser Permanente builds out to accommodate health care reform.
REAL ESTATE: Landlords suffer crime, odors and legal actions.
The high-risk, and high-reward, of renting space to medical marijuana businesses.
Friday, July 22
Commercial real estate brokerage NAI Capital Inc. in Encino said it has secured the listing for OPI Products Inc.’s massive manufacturing campus of in North Hollywood.
College of the Canyons has appointed a new vice president of economic and business development.
L.A. County’s unemployment rate fell to 4.8 percent in June, the lowest it’s been since January 2007, according to figures released Friday. In May, the seasonally adjusted rate was 4.9 percent.
Filming is up in Hollywood, and the space needed to create films – soundstages – is getting harder to find, presenting opportunities for entrepreneurs to lure productions to new spaces in the San Fernando Valley and Ventura County.
Valley Economic Alliance wants to help prevent the egregious abuses of the federal law with a most unlikely partner – Goodwill Southern California.
Thursday, July 21
Amgen Inc. will pay $95 million to settle a class action lawsuit, the company announced Wednesday.
The San Fernando Valley’s first Floor & Decor opened for business in West Hills Thursday.
Capstone Turbine Corp. received payment for two of its microturbines to be shipped to a flare gas utilization project in the Republic of Uzbekistan.
POLITICS: Despite judge’s decision, Antelope Valley thinks county owes money.
Antelope Valley Hospital had its first court hearing earlier this month regarding its lawsuit against Los Angeles County and its board of supervisors for allegedly misallocating billions of dollars of Measure B funding.
Queen Mary 2 even pampers pets after $132 million refit.
Cunard upgrades to house more ocean-going pets.
PUBLISHING: Academic journal powerhouse takes bigger digs.
Academic and professional demand drives growth at Sage Publications.
Wednesday, July 20
The family of a toddler killed by an alligator at a Walt Disney Co. resort in Orlando will not sue the company.
A change in the tax regulations in China caused Netsol Technologies Inc. to incorporate new tax handling capabilities for clients in that country.
Urban design and planning firm Gruen Associates has been chosen by Los Angeles to lead the design of 12 miles of the San Fernando Valley portion of the Los Angeles River Greenway.
Tuesday, July 19
Audio technology developer DTS Inc. entered into an agreement with Paramount Home Media Distribution to make DTS: X available on select Blu-ray discs, it was announced Tuesday.
Medical-device maker Medtronic announced Tuesday that its Guardian Connect mobile glucose monitoring system received European Union approval and is slated for sale in 2017.
Monday, July 18
A five-building portfolio in Valencia and Santa Clarita has sold to Chicago-based real estate investment trust Jones Lang LaSalle Income Property Trust Inc. for about $64.5 million, according to the company.
Antelope Valley Hospital has named Ronald Bingham as its new chief operating officer, the Lancaster hospital announced Monday.
Friday, July 15
Private aircraft charter firm JetSuite is adding service to San Jose as part of the JetSuiteX service it operates from Hollywood Burbank Airport.
Ceres Inc. narrowed its losses during its last quarter as a publicly traded company if an announced acquisition takes place.
Thursday, July 14
Amgen Inc. announced Wednesday that it has entered into an exclusive contract with Tokyo-based pharmaceutical company Daiichi Sankyo Co. Ltd. to commercialize nine biosimilar drugs in Japan.
The owner of an Antelope Valley gold mine has agreed to sell $10 million worth of shares in the company to a syndicate of investors led by a Canadian firm.
Simulations Plus stock rose nearly 6 percent Thursday after the company announced its fiscal third-quarter results.
Wednesday, July 13
The owner of the makeup brush retailer Morphe Brushes has bought a nearly 64,000-square-foot industrial building in Pacoima, according to L.A. commercial real estate brokerage CBRE Group Inc.
NNA Services, parent company and operator of the membership-based trade group National Notary Association in Chatsworth, has launched surety and fidelity bond service TitleAndEscrowBonds.com.
Capstone Turbine Corp. has shipped its first C1000S microturbine to Europe for use at a manufacturing facility in Slovenia, the company announced Wednesday.
Tuesday, July 12
On-location filming in the second quarter increased by 5 percent compared to a year ago, according to a report released Tuesday by FilmL.A.
Irvine-based Premier Business Centers plans to open workspaces for rent in Calabasas later this summer as part of a national expansion, the company announced Tuesday.
Monday, July 11
Westlake Village real estate investment trust LTC Properties Inc. has added a Georgia assisted living and memory care facility to its portfolio of properties.
ImmunoCellular Therapeutics Ltd. on Monday filed a preliminary prospectus to offer up to 60 million shares of common stock, which the company anticipates will raise approximately $12.8 million in net proceeds.
Glendale clinic has a $499 inclusive deal that avoids insurance.
Excluding insurance brings business but also potential risks to Glendale fixed-price clinic.
ENVIRONMENT: Lockheed installs 3,300 solar panels adjacent to Palmdale plant.
The top secret Lockheed Martin Corp. Skunk Works facility in Palmdale is now generating a portion of its own power from a solar installation that went active at the end of May.
Looking for a second career? David Bash switched from college instructor to music festival promoter.
International Pop Overthrow Music Festival promoter David Bash.
LAW: Attorneys sign up hundreds of Porter Ranch residents.
The Porter Ranch gas leak has attracted a swarm of attorneys.
College to convert vacant supermarket into school
Antelope Valley College’s conversion of former supermarket and medical offices drives attention to tired strip mall.
News and notes from the greater San Fernando Valley
Christian multimedia company Salem Media Group launched a news talk radio station over the July 4 weekend, airing throughout the greater San Francisco metro area – including Modesto, Sacramento and San Jose.
REDEVELOPMENT: Mixed-use project would have senior housing and a multiplex.
For its downtown, Reseda wants the same attractions other neighborhoods want – places to shop, eat and be entertained so residents and visitors will stay and spend money there.
Service-focused enterprises again lead the Business Journal’s ranking of most lucrative Valley-area companies – and there’s a reason for it.
Overview of the top two most profitable companies and how they do it.
MANAGEMENT: Company secures staffing contracts for doctors at two facilities.
Health management company Apollo Medical Holdings Inc. is expanding in Northern California, securing two new contracts to provide hospitalist services to Mee Memorial Hospital in King City and Salinas Valley Memorial Hospital in Salinas.
BIOTECH: Venture division seeks access to technology, potential takeovers.
Amgen Inc. backs startups for their future value.
ACQUISITION: ReachLocal in Woodland Hills to join newspaper chain in $156 million deal.
Why Gannett Co. Inc. sees value in online marketer ReachLocal Inc.
Michelle Arevalo’s child-friendly events attract women in sales.
Professional moms and kids get business-oriented playdates through networking startup.
Resolution website OneDayDecisions.com to put its spots on air.
What’s a national TV ad campaign worth? 10 percent of its equity, according to one startup.
AGRICULTURE: Land O’Lakes to pay $17 million for Ceres.
Ceres Inc.’s switch to improving forage crop yields attracts purchase offer from Land O’Lakes.
Massive debt, tanking oil prices, Brexit and lastly a mini-tender offer tell a bad-luck story for California Resources Corp.
Friday, July 8
SetPoint biomedical technology company has signed a long-term lease for more than 14,000 square feet at a research and medical park in Santa Clarita, according to L.A. based-CBRE Group Inc.
L.A.-based Rexford Industrial Realty Inc. has purchased properties in Camarillo and San Fernando, the company announced Thursday.
With the gas leak in Aliso Canyon plugged, a geyser of lawsuits has erupted to provide work for local law firms – and perhaps rewrite the rules for complex litigation going forward.
It’s a story known to many cities these days: a once-busy strip mall loses anchor tenants and the vast spaces sit empty for years before getting filled – if at all. Meanwhile, fewer people stop by, the center gets old and sluggish, and that drives out more tenants.
Thursday, July 7
Valencia-based Cunard Line Ltd. has completed a $132 million refit of its flagship ocean liner Queen Mary 2, the company announced Thursday.
Second Sight Medical Products Inc. on Thursday saw an uptick in its stock price — up more than 20 percent — after the federal government established a proposed Medicare reimbursement rate of approximately $150,000 for the Argus II implant and its associated surgical procedure.
Wednesday, July 6
Burbank-based CW Television Network and streaming entertainment provider Netflix of Los Gatos on Tuesday announced a licensing deal that allows Netflix to continue as the only U.S. subscription television service providing past seasons of scripted CW series.
Another gas leak was discovered at Southern California Gas Co.’s Aliso Canyon facility near Porter Ranch over the weekend, but it was small and quickly patched.
Tuesday, July 5
Poinsettia Plaza, a shopping center in Ventura, has sold for $50 million.
Applebee’s Neighborhood Grill & Bar has launched a line of wood-fired grill salads, the company announced Tuesday.
Friday, July 1
A minimum wage increase went into effect on Friday for Los Angeles businesses with 26 or more employees.
B. Riley Financial Inc. on Friday completed its acquisition of internet service provider United Online Inc. of Woodland Hills.
Irving, Texas-based 7‑Eleven Inc. has leased 2,800 square feet in Oxnard after buying the convenience store business operating at that location, according commercial real estate brokerage GPS Commercial Real Estate Services Inc. in Santa Barbara.