Joel Russell

Editor

Joel Russell is editor of the Business Journal and is responsible for the content of the publication.

Email: jrussell@sfvbj.com
Phone: 818-316-3125 Extension: 116

Recent Stories

L.A. City Council Approves Street Vending Program

Los Angeles City Council approved proposed rules for a sidewalk vending program on Tuesday.

Study: Amgen’s Aimovig Curtails Migraine Days

Amgen Inc. said a new study showed its drug Aimovig is an effective preventive treatment migraine patients who have tried other treatments that either didn’t work or had intolerable side effects, the company announced Tuesday.

The Number

2% Businesses that balance core competencies and innovation

Quarterly Results Lift Simulations Plus

Shares of Simulations Plus Inc. rose more than 6 percent Tuesday after the company reported results for its second fiscal quarter.

Limoneira Forms Grupo Argentino

Limoneira Co. has formed Grupo Argentino, a cooperative arrangement between the company and leading citrus packers in Argentina, the company announced Tuesday.

AeroVironment Tests Military Maritime Drones

AeroVironment Inc. has conducted a maritime demonstration of the automated sensor-to-shooter function for its Puma and Switchblade drones from a U.S. Navy ship, the company announced Monday.

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New Name, Ownership for Valencia Golf Course

The Oaks Club at Valencia is the new name for the golf course formerly known as the Tournament Players Club Valencia.

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MannKind Drops 25 Percent on Stock Offering

Shares of MannKind Corp. fell nearly 25 percent Friday, after the company announced a $28 million stock offering.

ApolloMed Merger Complicates Annual Report

Apollo Medical Holdings Inc. has announced its fiscal year results, but the financial numbers only reflect 23 days’ of the company’s performance.

The Number

13% Increase in passengers at Hollywood Burbank Airport

Hollywood Burbank Airport reported an airline passenger count of 370,230 in January, a 13 percent increase compared to the same month a year ago.

Glendale Man Sentenced for Illegal Music Sharing Website

A Glendale man who ran the music sharing site Sharebeast.com was sentenced to prison Thursday for criminal copyright infringement, the Justice Department has announced.

Sienna Biopharmaceuticals Rehires CFO

Sienna Biopharmaceuticals Inc. has hired John Smither as chief financial officer, returning him to a position he previously held.

Northridge Health Workers Ratify Union Contract

Fifteen thousand workers in California – including more than 700 in Northridge – have ratified a new contract with Dignity Health, according to Service Employees International Union – United Healthcare Workers West.

The Number

6,500 Acres of commercial land available in Antelope Valley

Earnings: Qualstar, Interlink, Sienna Biopharmaceuticals

Qualstar Corp. shares jump 25 percent after the company reports fourth-quarter revenue gains.

Tax Benefits Boost Salem Media's Income

Salem Media Group Inc. reported a decrease in revenue but an enormous jump in net income because of tax reform.

MannKind Reduces Debt With Equity Swaps

MannKind Corp. has restructured its debt, reducing its outstanding principal by $14.5 million through equity swaps, the company announced Monday.

Burbank Speed Shop to Display ‘Black Panther’ Lexus at Car Show

West Coast Customs will feature the customized Lexus from the movie “Black Panther” at the DUB Custom Car Show in Los Angeles this weekend.

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Earnings: Marcus & Millichap, Limoneira

Marcus & Millichap reports higher annual revenues, while Limoniera benefits from tax reform.

PS Business Parks Divests Irvine Office Complex

PS Business Parks Inc. has sold the Corporate Pointe Business Park in Orange County.

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Acquisitions Contribute to B. Riley Revenue Gains

Acquisitions set the stage for B. Riley Financial Inc. to deliver an 18 percent increase in the fourth quarter, the company announced Wednesday.

New CEO at Los Angeles Federal Credit Union

Richard Lie is the new president and chief executive of Los Angeles Federal Credit Union, the organization’s board announced Monday.

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PennyMac Adds Insider to Board

PennyMac Financial Services Inc. has named Anne McCallion, the company’s chief enterprise operations officer, to its board of directors, the company announced Tuesday.

The Number

+32% Number of businesses sold in Los Angeles metro market

B. Riley Names Head of Wealth Management Strategy

B. Riley Financial Inc. has named Chuck Hastings as director of wealth management strategic initiatives, the company announced Friday.

California Resources Narrows Loss in Q4

California Resources Corp. had fourth-quarter losses below what Wall Street analysts expected, the company announced Monday.

Revenue Keeps Growing at American Homes 4 Rent

American Homes 4 Rent increased its revenue for the fourth quarter and full year, the company announced Thursday.

B. Riley Hires Institutional Investment Head

B. Riley FBR, an investment bank and subsidiary of B. Riley Financial Inc. in Woodland Hills, has hired Daniel Leland as head of Fixed Income Capital Markets, the company announced Thursday.

Glendale Accounting Firm Takes New Name

Business accounting firm Sadd Velazquez Higashi Shammaa LLP has changed its name to the Accountancy, the Glendale company announced Wednesday.

The Number

9.8% Apartment rent increase in Lancaster last year

Why are rents going up in Lancaster? Look at who’s hiring.

Semtech Selected for Smart Irrigation System

Technology from Semtech Corp. is part of a new system by WaterBit for precision irrigation in agriculture, the company announced Tuesday.

PennyMac Profits Soar in Q4

Shares of PennyMac Financial Services Inc. moved higher Friday, one day after the company reported fourth-quarter and full-year results.

California Resources Corp., Ares Management Form Joint Venture

California Resources Corp. has entered into a joint venture to own the Elk Hills power plant near Bakersfield.

Mission Valley Bank Reports Strong Year

Mission Valley Bancorp reported net earnings of $3.55 million ($1.07 per share), the highest profits in the history of the Sun Valley bank.

Capstone Loss Less Than Wall St. Expectations

Capstone Turbine Corp. reported a small net loss on Monday for the third fiscal quarter that beat analyst expectations.

Dow Drop Hurts Valley Companies

The Dow Jones Industrial Average experienced its largest ever one-day decline Monday, taking down Valley company stocks in the process.

Sherman Oaks Office Building Sold for $3.8 Million

The 5,100-square foot medical office building at 15450 Ventura Blvd. in Sherman Oaks has sold for $3.8 million, according to Calabasas brokerage Marcus & Millichap.

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New Ownership at Delphi Business Properties

Broker Jeff Puffer has taken over ownership of Delphi Business Properties Inc. and assumed the role of chief executive, the company announced Friday.

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B. Riley Runs $125 Million SPAC Offering

A subsidiary of B. Riley Financial Inc. in Woodland Hills has served as sole underwriter and book-running manager of a $125 million offering from Gordon Pointe Acquisition Corp., the company announced Thursday.

MannKind Shares Gain 41 Percent

Shares of MannKind Corp. rose more than 40 percent Thursday.

Valencia Apartment Complex Sold for Nearly $46 Million

The Madison at Town Center, a 130-unit multifamily development in Valencia, sold for $45.9 million, or more than $350,000 per unit, according to Calabasas brokerage Marcus & Millichap Inc.

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Marcus & Millichap Finance Division Head to Retire

William E. Hughes, head of Marcus & Millichap Capital Corp., will retire, parent company Marcus & Millichap Inc. announced Monday.

The Number

$44 Billion Insured losses of 1994 Northridge earthquake

Eclipse Berry Files for Chapter 11 Bankruptcy

Eclipse Berry Farms has filed for bankruptcy, joining a growing list of Ventura County strawberry operators facing difficulties.

Groundbreaking for $92 Million NoHo Water Treatment Plant

L.A. Mayor Eric Garcetti broke ground Wednesday at the North Hollywood West Groundwater Treatment Project, a plant to restore the use of groundwater for drinking in the San Fernando Valley.

Stubbs Alderton Hires Litigation Partner

Stubbs Alderton & Markiles, the business law firm in Sherman Oaks, has hired Dan Rozansky to join its business litigation practice as a partner.

Disney Drops Iger’s Compensation by $7.6 Million

Robert Iger, the chief executive of Walt Disney Co., took home nearly $36.3 million last year, or $7.6 million less than he earned the previous year.

Dole Food Cancels Proposed IPO

Dole Food Co. has called off its proposed public offering after talks to sell the company to a Belgium firm broke down.

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PennyMac Enters Broker Direct Market

PennyMac Financial Services Inc. will offer mortgage brokers access to its Power platform, the company announced Friday.

Endonovo Engages Firm to Monitor Share Trading

Endonovo Therapeutics Inc. has engaged a company to monitor trading of its shares, the company announced Thursday.

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