Joel Russell


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

Phone: 818-316-3125 Extension: 116

Recent Stories

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.

NetSol Launches Point-of-Sale Finance System in China

NetSol Technologies Inc. has launched a point-of-sale system in China for client FCA Automotive Finance Co., the company announced Wednesday

Semtech Fills New Marketing Management Position

Semtech Corp. has created a new senior level position and named a veteran tech industry professional to fill it.

'Excessive Heat' Hurts Limoneira’s Quarter

Limoneira Co. has reported lower revenue and a net loss for the fiscal fourth quarter, blaming the results in part on excessive heat in Arizona.

Rex Lands $15 Million in Series B Funding

Rex Real Estate Exchange has secured $15 million in Series B funding.

VICA, Other Groups Oppose Moratorium on Natural Gas Hookups

Business opposition is mounting to a proposed three-month moratorium on new commercial natural gas hookups in Los Angeles County, with a vote by the state Public Utilities Commission set for Thursday.

The Number

#1 Scorpion’s ranking among digital strategy agencies

Valley area companies make online research firm’s list of top advertising and marketing agencies.

Atara Prices Secondary Offering to Raise $128 Million

Atara Biotherapeutics Inc. has priced its secondary stock offering to raise nearly $128 million, the company announced late Wednesday.

Atara Proposes $100 Million Secondary Offering

Atara Biotherapeutics Inc. plans to raise $100 million through a secondary stock offering, the company announced Tuesday.

Atara Biotherapeutics Shares Rise on FDA Approval

Shares of Atara Biotherapeutics Inc. rose nearly 19 percent Friday after the company announced approval from the U.S. Food and Drug Administration to conduct Phase 3 clinical studies on its experimental drug tabelecleucel.

Talon International Files to Cease Quarterly Reports

Talon International Inc. has filed paperwork with the Securities and Exchange Commission to voluntarily deregister its common stock and cease filing quarterly and annual reports to shareholders, the company announced Thursday.

Valley Studios Dominate 2017 Box Office

Valley film studios took the top three spots in 2017 box office market share, according to an analysis by Variety.

Fresh Capital Will Fund BNK Drilling Program

BNK Petroleum Inc. announced Thursday it has secured an increase in its credit facility and plans to use some of the money to fund its 2018 drilling program.

Antelope Valley Mall to Sell in $3.2 Billion Portfolio

Forest City Realty Trust Inc. plans to sell the Antelope Valley Mall in Palmdale as part of a 10-property, $3.2 billion portfolio.

Capstone Sells Turbines in California Oilfields

Capstone Turbine Corp. has sold two C1000 Signature microturbines to an oil and gas well site in California.

Amgen to Pay $6 Billion Tax Bill to Repatriate Cash

Amgen Inc. expects pay between $6 billion and $6.5 billion in taxes as it repatriates money from overseas operations, the company said Friday in a filing with the Securities and Exchange Commission.

Tutor Perini Wins Hurricane Sandy Recovery Project

Tutor Perini Corp.’s subsidiary WDF Inc. has won a contract with the New York City Housing Authority for the Sandy Recovery Program Restoration at Baruch Houses.

Cal Lutheran Forecasts Narrowing of State’s ‘Growth Premium’

The U.S. economy will grow an average 2.2 percent during the next two years with California’s economy faring better for the next few quarters, according to California Lutheran University’s Center for Economic Research and Forecasting.

New Horizons Names Chief Executive

New Horizons has named John Brauer as chief executive effective Jan. 11.

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Cal/OSHA: Employers Must Protect Workers From Wildfire Smoke

Cal/OSHA issued an advisory to employers on Tuesday that they must protect their workers if working conditions include exposure to wildfire smoke.

Public Storage Opens Seventh Houston Facility This Year

Public Storage opened a new location in the Houston market on Friday, passing the 1 million square foot milestone for new self-storage space this year.

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Disney Buys 21st Century Fox for $52 Billion

Walt Disney Co. has agreed to buy 21st Century Fox for $52.4 billion, Disney announced Thursday.

Haawk’s Double Acquisition Brings New CEO

Music rights management firm Haawk has acquired two companies, the Studio City startup announced Wednesday.

Sony, Qualstar to Develop Optical Data Storage System

Qualstar Corp. has entered into an agreement with Sony Imaging Products & Solutions Inc. to develop an optical disc archive system for computer data, the company has announced.

Semtech Slumps on Quarterly Results, Outlook

Semtech Corp. announced results for its fiscal third quarter and guidance that sent its stock down sharply Wednesday.

Credit Union Buys Burbank Office Building

An office building in Burbank has sold to Burbank City Federal Credit Union for $3.75 million, according to brokerage Lee & Associates-LA North/Ventura.

Shooting in Vegas Vexes Valley CEO

Proximity to tragedy impacts showman’s food festival.

Woodland Hills event production firm owner impacted by Las Vegas shooting.

Mixed Use Valley Village Complex Sold for $2 Million

A combination office building and rental housing complex in Valley Village has sold for $2 million, according to commercial brokerage Marcus & Millichap.

iPayment Closes Financing for Acquisition

iPayment Inc., a provider of credit card payment services, has closed on a corporate refinancing with the proceeds partially funding its acquisition of Leaders Merchant Services, the company announced Wednesday.