Los Angeles Business Journal

Honor System

Golf courses in Coachella Valley and other parts of the state rely on private wells to keep their courses lush and green, so while they will have to cut water usage by 25 percent, they will not have to report it. That means their water use is largely on the honor system, the Los Angeles Times reports.

Ahead of the Pack

I Fei Chang, chief executive of Greenland USA, a Chinese development firm, is spearheading $6 billion worth of real estate development in the United States, including the $1-billion Metropolis hotel, shopping and condominium complex downtown, making her one of the biggest developers in the nation, the Los Angeles Times reports.

Off-Screen Drama

Movie theater owners and Walt Disney Co. are battling it out over new conditions the studio has set on theaters wanting to show “The Avengers: Age of Ultron,” the Wall Street Journal reports.

Fiorina’s Hat Thrown

Former Hewlett-Packard Chief Executive Carly Fiorina officially launched her bid for the White House Monday as a 2016 Republican presidential candidate, becoming the first female to seek the nomination, the Wall Street Journal reports.

Management Shuffle

Chuck Robbins is the new chief executive at Tech giant Cisco Systems Inc. effective July 26, the Wall Street Journal reports. He will replace John Chambers who will become the executive chairman and continue to serve as chairman.

Fight Over Piracy

While some shelled out big bucks to watch Saturday's Floyd Mayweather-Manny Pacquiao fight, others bragged on social media that they got to watch it for free, thanks to some video-sharing apps, leaving the president of fight promoter Top Rank Inc. poised to pursue legal action, the Los Angeles Times reports.

Divide and Conquer

In an effort to fight a sales slump, McDonald's is revamping its leadership by restructuring into four different segments: U.S., International Lead Markets, High-Growth Markets and Foundational Markets, company officials are expected to announce to investors Monday, Bloomberg reports.

Perfect Timing

It's being billed as the “selfie of all selfies” after a Dodgers' fan recorded himself catching a home run ball at Saturday night's game, LAist reports.

Stocks Up

The Dow Jones industrial average was up 84 points in Monday trading to 18,108. The S&P 500 was up seven points to 2,115. The Nasdaq was up 30 points to 5,035. The LABJ Stock Index was up one point to 231.

Judge Stops Millennium Hollywood

The Millennium Hollywood is a no go for now. Plans for the two controversial skyscrapers to be built near the iconic Capitol Records building have been halted by a state judge who ruled Thursday that Los Angeles failed to properly assess the $1 billion project’s impact on local traffic and area neighborhoods. See the Los Angeles Business Journal's coverage here.

Steak Dinner, On Us

Big salaries, trips to Sin City and, of course, steak dinners: All were paid for with water ratepayers’ money by employees of two trusts created by L.A.’s Department of Water and Power, according to city audits released Thursday, the Los Angeles Times reports.

Oaktree's Possible Purchase

Downtown Los Angeles money manager Oaktree Capital Group is eyeing parts of General Electric Co.’s finance business, which the manufacturing giant has said it wants to sell off, Bloomberg reports. Another L.A. outfit, private equity and debt firm Ares Management, is rumored to be interested, too.

Musk’s Tesla Wants to Power Your House

Billionaire Elon Musk isn’t stopping at electric cars: His auto maker Tesla plans to expand into designing battery systems called Powerwalls for use at homes and businesses, the New York Times reports.

Port Police Chief Indicted

Port of Los Angeles Police Chief Ronald Jerome Boyd was indicted on tax evasion and corruption charges Thursday for allegedly plotting a kickback scheme involving a software company he was helping get a port contract, the Long Beach Press Telegram reports.

Gas Prices Going Up

Pain at the pump? It’s not your imagination: California gas prices shot up this week because of problems at some refineries in the state, the Los Angeles Times reports.

Previous