Los Angeles Business Journal

ExxonMobil Under Fire, Again

Two South Bay congress members are, for a second time, accusing ExxonMobil of failing to cooperate with a federal investigation of its Torrance refinery in the wake of a February explosion, the Daily Breeze reports. Reps. Ted Lieu and Maxine Waters say the company is blocking access to some refinery units and witnesses. Meantime, a Torrance City Council workshop is scheduled to be held today to discuss safety issues at the refinery.

Whole Foods Invests in Mendocino Farms

L.A. sandwich chain Mendocino Farms has received an investment from grocery powerhouse Whole Foods Market Inc. that will allow the 11-store operation to test new offerings in Whole Foods and its 365 by Whole Foods locations, Reuters reports. Terms of the deal, which will also help fund Mendocino Farms’ expansion into the Bay Area and San Diego, were not disclosed.

Big Tax Loophole

Billionaire Elon Musk's Tesla Motors new Model X electric SUV may cost more than $100,000, but some buyers can expect a $25,000 federal tax deduction, the Los Angeles Times reports. Critics say it is an unfair advantage for the wealthy who primarily buy the cars because they would also receive a $2,500 state rebate for buying a battery-electric vehicle and a $7,500 federal tax credit.

Shortage of Educated Workers Expected

California may face a shortage of about 1.1 million college-educated employees by 2030, according to a new report released Monday by the Public Policy Institute of California, the Long Beach Press Telegram reports.

Just for the Articles, Really

Playboy and nudity have gone hand in hand since the magazine’s inception, but now Beverly Hills’ Playboy Enterprises Inc. has announced it will stop publishing fully nude photos of women, the New York Times reports. The changes are scheduled to go into effect next March.

Stocks Down

The Dow Jones industrial average was down 31 points in early trading Tuesday to 17,101. The S&P 500 was down five points to 2,013. The Nasdaq was down 13 points to 4,826. The LABJ Stock Index was down one point to 228.

American Apparel Backer Blasts Charney

New York hedge fund Standard General told a Delaware judge Friday that ousted chief executive Dov Charney is interfering with its plans to reorganize downtown L.A. apparel maker American Apparel Inc. in bankruptcy, the Wall Street Journal reports. Charney denies the allegations.

Is Your Roof Ready for El Niño?

The El Niño predictions for this winter are adding up to big business for local roofing companies, the San Gabriel Valley Tribune reports.

Hiring for the Holidays

While retailers plan to recruit thousands of seasonal workers for this gift-giving season, the numbers are expected to be flat compared to last year, according to outplacement firm Challenger, Gray & Christmas, the San Gabriel Valley Tribune reports.

Good News for Travel

It might be time to plan your holiday trip as airfares are down and may stay that way for the rest of the year, thanks to lower fuel prices, the Los Angeles Times reports.

Box Office: ‘The Martian’ Stays No. 1, ‘Pan’ Disappoints

Director Ridley Scott's "The Martian," starring Matt Damon, took the No. 1 spot for the second week in a row, making $37 million over the weekend, the Hollywood Reporter says. Sony Pictures Entertainment's "Hotel Transylvania 2" came in at No. 2, making $20.3 million. Warner Bros. Entertainment’s big budget film“Pan” was No. 3, opening with $15.5 million.

Big Expense

Halloween is expected to add up to big bucks this year with predictions that consumers – including adults and millennials – will spend $6.9 billion, or an average of $74.34 each, according to the National Retail Federation, the Los Angeles Times reports. That’s more than double that was spent for the holiday a decade ago.

Stocks Mixed

The Dow Jones industrial average was up 16 points in early trading Monday to 17,101. The S&P 500 was down one point to 2,014. The Nasdaq was up seven points to 4,837. The LABJ Stock Index was up two points to 229.

NFL Owners Undecided

The 32 team owners who came together this week for NFL meetings in New York seem to be at a stalemate regarding whether to back a football stadium in Inglewood, which would house the Rams, or one in Carson, which would be a shared stadium for the Chargers and Raiders, the Los Angeles Daily News reports. It appears owners are more divided than ever. The league may vote in January.

UTi Worldwide to Be Sold

Denmark’s DSV Group, a transport and logistics company, announced Friday it has agreed to buy Long Beach logistics firm UTi Worldwide Inc. for $1.35 billion, the New York Times reports. Shareholders stand to get a 50 percent premium.