Stories for November 2016
Wednesday, November 30
Shares of California Resources Corp. (CRC) soared 44 percent Wednesday as hopes of higher prices revived the entire oil sector.
High-definition radios made by DTS Inc. (DTSI) will appear in 17 new car models in 2017, the company announced Wednesday.
Acco Engineered Systems has named long-time employee Jeffrey R. Marrs as its new chief executive.
Tuesday, November 29
DreamWorks Animation will lay off 170 employees at its Glendale campus in January as the studio continues to be integrated into NBCUniversal following its acquisition early this year by Comcast Corp.
A judge on Tuesday certified a $4 million settlement between Los Angeles County prosecutors and Southern California Gas Co., clearing the company of a criminal charge related to a gas leak at its Aliso Canyon storage facilities.
The Candlewood North apartment complex in Northridge has changed hands, according to Marcus & Millichap Inc. of Calabasas.
Monday, November 28
Cherokee Inc. will acquire footwear maker Hi-Tec Sports International Holdings B.V. for $96 million, the company announced on Monday
The studio where “Terminator 2” and “Nightmare on Elm Street” were filmed and television show “NCIS” is currently produced has sold for more than $19 million.
Two veteran business leaders have been tapped to fill the new executive-in-residence and entrepreneur-in-residence posts at California Lutheran University’s School of Management, the college announced Monday.
Los Robles Hospital & Medical Center on Monday announced it has become the first certified comprehensive stroke center in Ventura County and 14th in the state.
Life Source International Charter School in Lancaster has bought the building it has occupied for three years.
REAL ESTATE: Market shifts as tenants seek creative space, smaller footprints.
Landlords find few tenants to rent big spaces.
BIOTECH: Sylmar company’s stock spikes 17 percent on implant announcement.
A UCLA study on visual cortex implant stimulates share prices for Second Sight.
TECHNOLOGY: Odor measurement device could help cannabis growers in the future.
Opportunities may – or may not – bloom along with pot legalization for odor and pesticide detector manufacturer.
EDUCATION: Business college has strategic plans for $25 million.
How CSUN will spend $25 million on its business college.
Galpin, Barbuscia display speedster updates in L.A.
Local speed shops put their best cars forward at L.A. Auto Show.
Legalization brings banking question to forefront for industry.
Now that all pot is legal in California, challenges still face industry.
Website event provides startups with training while seeking feedback.
Local entrepreneur helps connect review website with businesses.
Gwen Banta’s book examines racism in 1960s Midwest.
Local author’s first book is published – now the real work begins.
Possible costs of legalizing marijuana; lower-cost neighborhoods should attract businesses from L.A.’s costliest areas.
News and notes from the greater San Fernando Valley
The Center for Economic Research and Forecasting at California Lutheran University in Thousand Oaks has named Matthew Fienup its new executive director.
DEVELOPMENT: Calabasas proposal would build apartments, office, retail.
Calabasas residents who voted down a hotel-and-homes project slated to be built on Las Virgenes Road near the 101 Freeway have gotten their wish – the project won’t get built.
Gemma Cunningham has a mission to make medicine honest by exposing the past misdeeds of doctors.
Gemma Cunningham, who once worked for a U.S. President, now owns TruthMD, a business that documents doctors’ disciplinary problems.
AVIATION: FAA uses shipping containers as structure’s oversized building blocks.
Shipping containers supply Van Nuys Airport with a temporary tower.
INSURANCE: As price limits expire, premiums are set to skyrocket despite Trump.
What rising health premiums mean for employers.
With Obamacare, local hospitals seek to track and pay for patients after they leave the facility.
How hospitals address patients’ post-procedure care.
ATTRACTIONS: Warner Bros. displays props, costumes from new film in museum.
Warner Bros. Studios is adding some fantastic beasts to its studio tour.
EVENT: Seasonal drives benefit from Van Nuys’ MGA Enertainment.
Three local charities will provide holiday cheer by the truckload this year thanks to the efforts of a group of Valley executives.
Wednesday, November 23
Just over a week before it was scheduled to go into effect, a federal law that would have more than doubled the salary threshold for overtime exemption has been blocked by a Texas judge.
Tarzana’s Clark Manor apartments have traded for more than $12 million, according to Calabasas commercial real estate brokerage Marcus & Millichap Inc.
The Valley Economic Development Center announced Wednesday it received $2.5 million from Wells Fargo & Co. to expand a minority small business loan program.
Tuesday, November 22
Four financial services firms on Tuesday initiated coverage of BlackLine Inc. three weeks after the accounting software developer went public.
The Southwest College of Medical-Dental Assistants has purchased an office building in Van Nuys for $3.3 million.
The median price for San Fernando Valley single-family homes reached $625,000 for the second time this year in October, according to the Southland Regional Association of Realtors Inc.
Monday, November 21
The Lofts at NoHo Commons has sold for nearly $103 million, according to the buyers, a joint venture between KBS Strategic Opportunity REIT II in Newport Beach and L.A. property operator MWest Holdings.
Hydrogen leak detection equipment manufacturer H2Scan Corp. has named Michael Allman as its new chief executive.
The U.S. Chamber of Commerce has renewed the Greater Conejo Valley Chamber of Commerce’s 5-star accreditation rating until 2021, the chamber announced on Friday. The classification is the highest bestowed on the nation’s chambers.
Friday, November 18
Warner Bros. Entertainment Inc. has signed an agreement to acquire the remainder of Machinima, an online gaming culture and streaming content platform.
San Fernando Valley Business Journal has published a book listing the 200 most influential people in the region.
The property beneath a McDonald’s restaurant under construction in Canoga Park has changed hands for more than $4 million, according to Calabasas real estate brokerage firm Marcus & Millichap Inc.
L.A. County’s unemployment rate rose slightly to 5.1 percent in October even as the number of payroll jobs reached 4.4 million for the first time ever, state figures released Friday show.
Thursday, November 17
College of the Canyons and AMS Fulfillment Inc. have partnered to offer California’s first apprenticeships in warehousing and shipping, the college announced Thursday.
The signing of a record 255,500-plus-square-foot lease has been announced for a vast warehouse and distribution center under construction in Sun Valley.
Wesco Aircraft Holdings Inc. matched Wall Street expectation on earnings but fell considerably short on revenue in the fourth quarter.
Wednesday, November 16
Apollo Medical Holdings Inc. on Wednesday announced it has acquired Bay Area Hospitalist Associates, a hospitalist and post-acute care practice in San Francisco.
Owners of Oxnard’s Serenade at RiverPark apartment complex have just bought a neighboring apartment community.
B. Riley Financial Inc. (RILY) has promoted Perry Mandarino to the new position of senior managing director and head of corporate finance.
Cheesecake Factory Inc. has opened a Grand Lux Cafe in Austin, Texas, the restaurant group announced on Tuesday.
Tuesday, November 15
Cheesecake Factory Inc. will support the development of two expanding brands through a strategic relationship with Fox Restaurant Concepts, the company announced Monday.
Kerlan-Jobe Orthopaedic Clinic of Los Angeles has opened a new office in Thousand Oaks to better care for L.A. Rams players and expand its services into the Conejo Valley.
The share price of California Resources Corp. rose nearly 20 percent Tuesday on higher prices for crude oil and news that billionaire George Soros increased his stake in the company.
Shares of Monster Digital Inc. rose nearly 40 percent after reporting quarterly financial results.
Monday, November 14
The Center for Economic Research and Forecasting at California Lutheran University in Thousand Oaks has named Matthew Fienup its new executive director, the college announced on Monday. Fienup assumes the post of center founder Bill Watkins, who recently retired from the university.
Consumer electronics manufacturer Samsung Electronics will acquire audio products developer Harman International Industries Inc. in a deal valued at $8 billion.
Ventura County Community College District in the city of Ventura has bought a top-notch office building in Camarillo for its new headquarters, according to commercial real estate brokerage NAI Capital Inc. in Encino.
The office of Los Angeles City Attorney Mike Feuer has filed a lawsuit against the owners of the Motel 6 hospitality chain and the managers of the chain’s property in Sylmar, Feuer’s office announced on Monday.
Crednology Holding Corp. announced Monday the acquisition of California Recycles Inc., an e-waste recycling company in a deal valued at $250,000.
NetSol announced widening losses, while B. Riley and Trio-Tech report profitable quarters.
Friday, November 11
The share price of Sylmar construction firm Tutor Perini Corp. has soared 32 percent since New York City real estate developer and President-Elect Donald Trump accepted the results of Tuesday’s presidential election with a speech that pledged rebuilding the nation’s infrastructure.
Patio Del Cielo apartment complex in Sherman Oaks has traded hands for $18.5 million, according to Calabasas commercial real estate firm Marcus & Millichap Inc.
The California Employment Training Panel, or ETP, a statewide workforce development program, has awarded a contract valued at roughly $550,000 to the College of the Canyons Employee Training Institute, the college announced Wednesday.
Skies are looking sunny for LA Solar Group, despite a hoard of competitors and signs of slowing in its industry.
Like pumpkin pie, flag football and cornbread stuffing, the uproar over retailers’ decision to open or close on Thanksgiving Day has become an American tradition, but now some stores are rethinking the strategy.
Thousand Oaks meets with NFL team to talk about permanent site.
Thousand Oaks asks what it would take to keep L.A. Rams in town.
APPAREL: Customers can access new clothes daily on subscription basis.
Online luxury apparel rental service Rent the Runway opened its flagship West Coast location on Oct. 21 in Woodland Hills.
Bellami deal combines celebrity marketing with management skill.
Simi Valley hair extensions business adds cosmetics with mergers.
REAL ESTATE: City personnel to work on neighborhood updates.
Community plan updates will kick off in the Valley.
We’ve had a few days since Election Day to examine the outcomes and consider the effects of voters’ decisions.
FINANCE: Lending organization to begin leadership search.
Head of Valley nonprofit lender steps down.
FINANCE: Lending organization to begin leadership search.
Head of Valley nonprofit lender steps down.
LA Solar Group has caught the panel installation trend with a three-year growth rate of 1,233 percent.
Sun shines on LA Solar despite fiercely competitive solar market.
TECHNOLOGY: Three-way merger will allow tracking of post-visit patient care.
Agoura Hills health care software developer Casamba Inc. has entered into a three-way merger with two other software providers – Boston-based HealthWyse and TherapySource of Birmingham, Ala.
Fastest Growing Private Companies: Bel Air Internet
Fastest Growing Private Companies: Interactive Education Concepts
Technology, staffing and health care lead to speed — but not exclusively.
Patterns for success among Valley’s fastest growing companies.
MARKETING: Appeal of Thanksgiving Day has run its course, expert says.
Latest trend for retailers is to rethink opening the doors on some holidays.
Hixme Insurance Solutions Inc. raised $14.1 million in a series B funding. The Agoura Hills health benefits consulting firm has now raised a total of $26.6 million.
Matthew Shepherd at website design firm Scorpion is planning to move into a new 100,000-square-foot building to accommodate fast growth.
Scorpion’s internet marketing expands in Valencia.
HOSPITALITY: Developer calls it ‘missing piece’ to finish retail transformation.
There’s something about Lancaster that keeps developer Scott Ehrlich coming back to build more.
INTERNET: GetDismissed moves past speeding to U-turns, seatbelt violations.
Traffic ticket solution service GetDismissed has added new offenses to its list of infractions that it can help resolve.
RETAIL: Provision creates 3D holographic images of products, so why not a keypad?
Sales materialize for Provision’s holographic displays.
INVESTMENT: Accounting software maker’s shares jump on first trading day.
BlackLine sees share price growth on day of IPO.
Nonprofit partners with bank to offer business training.
Operation Hope is banking on partnership with OneWest Bank.
Thursday, November 10
Former Los Angeles Mayor Antonio Villaraigosa, 63, announced he will run for governor in 2018, according to the L.A. Times.
Walt Disney Co. missed Wall Street estimates on adjusted earnings and revenue for the company’s fiscal fourth quarter.
Valencia biotech MannKind Corp. on Wednesday announced that the company has entered into a new contract with Sanofi, its former partner for selling inhalable insulin Afrezza.
Wednesday, November 9
Voters on Tuesday gave their approval on Tuesday to a variety of issues found on ballot measures, including airport development, recreational marijuana and transportation projects.
Thanks to one-time payments, MannKind Corp. beat Wall Street estimates on earnings and revenue for the third quarter.
Directors of New Horizons on Wednesday announced the appointment of Roschell Ashley as its interim chief executive officer effective Jan. 1.
Tuesday, November 8
Capstone Turbine Corp. announced Tuesday a partnership with finance company Acresis to put together as much as $100 million for a product-financing program for Capstone distributors.
Cheesecake Factory Inc., based in Calabasas, has opened a new restaurant in Valencia, the company announced on Tuesday.
A nearly 19,000-square-foot warehouse in Sun Valley has sold for more than $3 million, according to commercial real estate brokerage NAI Capital Inc. in Encino.
Monday, November 7
Wesco Aircraft Holdings Inc. has won a multi-year agreement with Science Applications International Corp. to support a recently awarded prime contract with the Defense Logistics Agency.
DTS reports what could be its final quarter as an independent company, while Salem Media misses expectations.
Friday, November 4
L.A. City Councilmember Mitchell Englander feels it’s time for the city to find a backup landfill for its solid waste, considering the continual complaints against the Sunshine Canyon Landfill in Sylmar.
Avocado grower and marketer Calavo Growers Inc. in Santa Paula said it has closed on a more than $19 million purchase of a Riverside building for its expanding fresh produce segment.
Calabasas commercial real estate brokerage Marcus & Millichap Inc. (MMI) reported third-quarter earnings Thursday that exceeded analysts’ expectations.
Thursday, November 3
PennyMac Financial Services Inc. reported record quarterly revenue, while MRV Communications narrowed its loss during the third quarter.
The share price of California Resources Corp. (CRC) slid 4 percent Thursday after the oil and natural gas producer reported a third-quarter loss that widened beyond the improvements analysts anticipated.
Teledyne Technologies Inc. beat Wall Street estimates on earnings for the third quarter but fell short on revenue.
Wednesday, November 2
Conejo Valley biotech veteran Keith Leonard has been named chief executive of San Francisco-based Unity Biotechnology Inc. after the company received $116 million in funding.
Sherman Oaks real estate company IMT Capital has sold another apartment complex, its third since August.
The U.S. Department of Transportation has provided a $4.3 million grant to bring electric buses to the Orange Line busway in the San Fernando Valley.
The stock price of Sylmar’s Tutor Perini Corp. (TPC) soared more than 10 percent Wednesday despite third-quarter earnings that missed analyst forecasts.
Westlake Village real estate investment trust LTC Properties Inc. (LTC) met analysts’ expectations on earnings and exceeded them on revenue for its third quarter.
Tuesday, November 1
Shares of BlackLine Inc. jumped nearly 30 percent during the first three days of trading as a public company.
DineEquity Inc. reported third-quarter results that beat Wall Street expectations for earnings but missed on revenues.
CheapAir.com has added 280 weekly Cuba flights to its product offerings.