Los Angeles Business Journal

Hope for Porter Ranch?

A state official said Thursday that the damaged well spewing natural gas near Porter Ranch could be capped by the end of next week, according to the Los Angeles Times. A senior advisor to Gov. Jerry Brown said that the relief well that is being drilled was tentatively expected to intercept the leaking well as early as Monday.

SoCal Gas Scraps Relocation Plan

A controversial plan by SoCal Gas has been thrown out. The plan would have given displaced residents only 48 hours to return home once the Porter Ranch gas leak, which has been spewing gas since October, is contained.

Dauman’s Viacom Appointment Sparks Uncertainty

The appointment of Philippe Dauman as chairman of Viacom Inc. has exposed a boardroom rift that could cause uncertainty for Nickelodeon, MTV and Paramount Pictures. The lone vote against Dauman came from Sumner Redstone's daughter, Shari Redstone.

Marinello Schools of Beauty to Close

Marinello Schools of Beauty announced Thursday it will close all 56 of its campuses after losing federal funding, the Los Angeles Daily News reports. The Department of Education said that Marinello was requesting federal aid for students based on invalid high school diplomas, and under-awarding federal aid to students, among other infractions.

Time Up for Lotto Winner

Public schools are set to receive a $63-million boost because the winner of the huge SuperLotto prize has failed to file a claim, the Los Angeles Times reports. The lottery winner had until 5 p.m. Thursday to do so.

Persian Carpets Roll into U.S.

After years of waiting, imported Persian carpets are now available throughout the U.S., following the lifting of sanctions against Iran. The end of the embargo is reinvigorating a commercial lifeline in Southern California, the Los Angeles Times reports.

Stocks Down

The Dow Jones industrial average was down 31 points in early trading Friday to 16,385. The S&P 500 was down 10 points to 1,905. The Nasdaq was down 41 points to 4,468. The LABJ Stock Index was down 2 points to 212.

Viacom Board Discussing Succession Today

Viacom´s board of directors will meet on Thursday to consider naming a new chairman to succeed Sumner Redstone, CNN Money reports. Chief Executive Les Moonves was named the new chair of Redstone’s other company, CBS Corp., on Wednesday, but the transition at Viacom, owner of Paramount Pictures, MTV and Comedy Central, may not be so straightforward.

Former Port of L.A. Police Chief Pleads Guilty

The former chief of police at the Port of Los Angeles pleaded guilty Wednesday to charges of tax evasion and providing a false statement to the FBI, according to the Los Angeles Times. Ronald Boyd faces up to 11 years in federal prison at a sentencing scheduled for July 25.

Playboy’s New Era Stars Now

Playboy has today published its first issue without fully nude photos, CNN Money reports. In a bid to reach a younger audience, the magazine is also doing away with a pair of long-running features: the cartoon and its monthly list of party jokes.

Unclaimed Lottery Jackpot Mystery

California´s public schools might get a boost. With hours to go and $63 million on the line, no one has yet claimed a winning California Lottery ticket that was sold on Aug. 8 at a 7-Eleven store in the Chatsworth neighborhood, the AP reports.

Disney’s Ticketing Plan for China Theme Park

Tickets will go on sale March 28 for the $5.5-billion Disney resort opening in Shanghai in June, Disney announced Wednesday. According to the Los Angeles Times, ticket prices will vary from $56 to $76.

Fur Flies Over Pet Store Rules

Members of the city’s Personnel & Animal Welfare Committee has updated zoning rules regulating pet shops, allowing shops with four or more dogs that stay overnight in the store to be allowed in commercial neighborhoods, the L.A. Daily News reports. Such shops were previously only allowed in industrial areas.

Huge Ratings For O.J. Drama

The premiere of The People v. O.J. Simpson: American Crime Story has become FX´s most watched series launch ever, according to E! Online. The show pulled in 5.1 million total viewers.

Stocks Down

The Dow Jones industrial average was down 58 points in early trading Thursday to 16,278. The S&P 500 was down 10 points to 1,902. The Nasdaq was down 34 points to 4,470. The LABJ Stock Index was down one point to 213.