Los Angeles Business Journal

California Oil and Gas Leasing Will Resume

The federal government will resume oil and gas leasing in California following a report released Thursday by a nonpartisan scientific commission that said there was little evidence that fracking and similar extraction techniques are dangerous, the Los Angeles Times reports.

Plastic Bag Ban Passes Assembly

A bill that would ban single-use plastic bags was approved by the California Assembly on Thursday after failing to advance earlier in the week, USA Today reports. If approved in the Senate by Sunday, it will be the first legislation of its kind in the U.S.

Lion Capital Nominates American Apparel Director

Lion Capital, which holds warrants to buy 12 percent of American Apparel’s stock, has told the company it is exercising its right to fill one of the two vacant board seats it controls, nominating food executive Robert Mintz, the Wall Street Journal reports. Mintz, most recently chief executive of rib and barbecue supplier Rupari Food Services, attended middle school and high school in Montreal with ousted American Apparel founder Dov Charney.

Back Wages Bill Fails in Senate

A bill to help workers recover back wages by allowing them to put liens on their employers’ property failed Thursday in the California Senate when numerous Democrats withheld their votes, the Sacramento Bee reports.

2014 ‘Year of the Megadeal’

Total deal value of media industry mergers and acquisitions jumped to $148 billion in the first half of the year, compared with $48 billion in the same period a year earlier, according to the Hollywood Reporter.

Valley Business Group Delays Minimum Wage Vote

Valley Industry & Commerce Association, a San Fernando Valley business group, delayed voting Thursday on Los Angeles Mayor Eric Garcetti’s soon-to-be-unveiled plan to hike the city’s minimum wage to $13.25 an hour by 2017, the Los Angeles Times reports.

TNT, TBS Programming Chief Leaves Turner

Management shifts at Turner Broadcasting continue with the departure of Michael Wright, president of Programming for TNT, TBS and Turner Classic Movies, the Los Angeles Times reports.

Porn Industry on Hold Again

For the third time this year, an immediate and indefinite moratorium has been placed on all porn filming after another performer may have tested positive for HIV, the Los Angeles Times reports.

New York Regulators Threaten to Disrupt Comcast Deal

New York regulators are threatening to disrupt Comcast’s acquisition of Time Warner Cable unless the companies agree to costly concessions, Bloomberg reports. New York regulators have additional power due to a state law passed this year that requires cable mergers to benefit the public.

Google Has a Secret Drone Delivery Program

Google has been working for two years to build flying robots that can deliver products across a city in minutes in a secret endeavor called Project Wing, an Atlantic exclusive reveals.

Bill to Prevent Unwarranted Data Collection Passes Senate

A bill that would prohibit California agencies from helping the federal government collect residents’ phone and Internet data without warrants was given final legislative approval Thursday by the state Senate, and will now go to Gov. Jerry Brown for consideration, according to the Los Angeles Times.

Actual Revenue Value of a Box Office Dollar Varies Widely

The cut of each box office dollar that studios take varies country to country, from as little as 25 cents in China to about 50 cents in the U.S., which is why international box office totals can result in very different amounts of revenue for Hollywood studios, the Wall Street Journal reports.

Dow Jones Down; S&P, Nasdaq Up

The Dow Jones industrial average was down 11 points to 17,068 in Friday morning trading. The S&P 500 was up 2 points points to 1, 999. The Nasdaq was up 9 points to 4,566.

Doc Rivers Contract is Ballmer’s First Clippers Move

New Clippers owner Steve Ballmer gave Doc Rivers a five-year contract on Wednesday valued at more than $50 million, which ensures the coach will be with the Clippers through the 2018-19 season, according to Yahoo Sports.

GDP Expands in Second Quarter

The U.S. economy's second-quarter rebound was better than expected, the Wall Street Journal reports. Gross domestic product grew at a seasonally adjusted annual rate of 4.2 percent in the second quarter, rather than the 4 percent previously estimated by the Commerce Department, the agency said Thursday.

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