San Fernando Valley Business Journal

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Stepping Out

Shoestores part of Cherokee’s move beyond brandsCherokee makes acquisitions as Target contract nears end.

By Champaign Williams January 25, 2016 midnight   $$ Share

County Unemployment Drops to 4.8 Percent

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.

L.A.’s Higher Minimum Wage Becomes Law

A minimum wage increase went into effect on Friday for Los Angeles businesses with 26 or more employees.

HomeStreet Bank Buys Two Local Branches

HomeStreet Inc., the parent company of HomeStreet Bank, has agreed to purchase two Southern California banks — one in Burbank and one in Granada Hills — from Boston Private Bank & Trust Co. of Boston.

Business Friendly? State Gets an F but L.A. a C-

Los Angeles ranked only a bit below average when it comes to creating a friendly environment for small businesses and entrepreneurs, according to a survey released Wednesday.

County Unemployment Falls Below 5 Percent

L.A. County’s unemployment rate fell to 4.9 percent in May, the first time below 5 percent in nine years, according to state figures released Friday.

NetSol Lands Motorcyle Leasing Client

MotoLease, a provider of loans for motorcycle and power sports vehicle buyers, has implemented software from NetSol Technologies Inc. for mobile payments, the company announced Thursday.

Tutor Perini to Raise $125 Million in Convertible Notes

Tutor Perini Corp. on Wednesday announced it is offering $125 million in convertible senior notes, which will mature in 2021.

Report Forecasts Five-Year Job Surge in County

A new report from Los Angeles County Economic Development Corp. predicts that the county's economy will create 346,100 new jobs during the next five years.

Electro Rent Acquired

Electro Rent Corp. has been acquired by private investment firm Platinum Equity in a deal valued at more than $323 million.

Encino Apartment Gets Mortgage

The owners of a new Encino apartment complex refinanced their construction loan into a long-term, fixed-rate loan in a transaction arranged by Jones Lang LaSalle Inc.

Pennymac Postpones Private Offering

PennyMac Financial Services of Moorpark has postponed a previously announced private sale of $300 million in senior notes.

County Unemployment Drops to 9-Year Low

L.A. County’s unemployment rate continued its rapid descent in April, falling to its lowest point in nine years.

American Homes Sets Price for New Offering

Agoura Hills-based American Homes 4 Rent, the country’s largest publicly-traded, single-family home landlord, announced the pricing of a $225 million public offering of preferred stock to be $25 a share.

Electro Rent’s Chief to Step Down After 35 Years

Daniel Greenberg will step down as the longtime chief of Electro Rent Corp. effective in July, it was announced Thursday.

Acquisition Boosts Revenue at American Homes

Single-home renter American Homes 4 Rent saw profit and revenue jump during the first quarter thanks to its purchase of a competitor.