San Fernando Valley Business Journal

Update: Virgin Galactic Space Vehicle Crashes

SpaceShipTwo, which the company is developing to carry tourists into space, crashed on Friday in the Mojave Desert with two pilots aboard during a test flight

Disney's Tokyo Theme Parks to Get $4.5 Billion Expansion

Walt Disney Co.’s two Tokyo theme parks are getting a $4.5 billion renovation and expansion over the next decade, the attractions’ Japanese owner announced on Friday.

VICA to Fight for Soccer Team

The Valley Industry & Commerce Association said Friday it would fight for the Valley to host the new Major League Soccer team.

Point 360 Voluntarily Delisting From Nasdaq

Point 360 will delist its shares from the Nasdaq Capital Market and will move trading to the over-the-counter but still provide full financial reports, the company announced on Friday.

Earnings Briefs: Public Storage, Bank of Santa Clarita

Public Storage beats estimates. Bank of Santa Clarita reports asset growth.

Business Events Calendar

Business Events throughout the Valleys.

MLS Announces New L.A. Franchise

Major League Soccer announced on Thursday the new ownership group for the failed Chivas USA franchise, and so far it doesn’t appear that there are any Valley ties.

Luxury Complex Sells for $126 Million

Chicago apartment developer Equity Residential has acquired The Hesby, a 308-unit upscale apartment building in North Hollywood, for $126 million.

Senators Hold CSUN Cleantech Hearing

Two state lawmakers led a hearing on Thursday at Cal State Northridge aimed at boosting the cleantech industry in the San Fernando Valley.

Valley Awaits Chivas Decision

The new ownership group for the failed Chivas USA franchise will be announced on Thursday and early reports don’t bode well for the Valley’s effort to have the team located here.

Media Heavyweights Launch ZAG Animation

A new joint venture among high-profile entertainment industry professionals will operate a studio in Glendale to produce animated and hybrid animated-live action feature films.

‘Dragon 2’ Helps DreamWorks Beat Estimates

DreamWorks Animation SKG Inc. posted solid numbers in the third quarter helped by the box office of summer release “How to Train Your Dragon 2.”

Amgen Says No Split Up

Shares of Amgen Inc. rose on Tuesday after Chief Executive Robert Bradway rebuffed a call to break up the company and instead announced additional layoffs of up to 1,100 workers and other restructuring to boost profits.

Deerlake Developer to Build 314 Homes

A joint venture between two real estate investment firms has purchased land in the northwest San Fernando Valley to build an upscale residential development that could generate more than half a billion dollars in home sales.

Reports Show Valley Home Sales Slowing

San Fernando Valley home sales were slow in September, according to two separate reports released Tuesday.

Earnings: DineEquity, PS Business Parks, CU Bancorp

DineEquity and PS Business Parks both beat analyst forecasts, while CU Bancorp missed.

Cost-Cutting Helps Amgen Beat Estimates

Amgen posted third-quarter earnings Monday that beat Wall Street estimates, as the company reported strong drug sales and benefited from cost-cutting once restructuring costs were excluded.

Business Groups' Stand on Propositions

Valley-area business groups have issued voting recommendations for the major propositions on the Nov. 4 ballot, including the water bond measure and two propositions related to the health-care industry.

Lancaster Installs Demand-Charge Station for Vehicles

Lancaster has partnered with a Santa Clara company to install an energy-storage system and electric-vehicle charging station as part of its plan to become the nation’s first city that produces as much power as it consumes.

Update: Avery Dennison Reports Third Quarter

Avery Dennison Corp. on Friday reported earnings, as the company was hit by raw material and restructuring costs.