The sporting goods company Easton, which makes baseballs and bats familiar to kids, is moving from its longtime Van Nuys home to a roomier 90,000-square-foot headquarters in Thousand Oaks, the Los Angeles Times reports. The new digs will include an indoor training facility as well as a research and development lab. The move will be a new start for the company which has faced upheaval and different owners in recent years. It is now owned by New Hampshire’s Performance Sports Group Ltd.
In an effort to reach local tech companies known for their catered lunches for employees, the Palo Alto food delivery service Eat Club is expanding to Los Angeles, the Los Angeles Times reports. The start-up, which claims to be the only company dedicated to corporate catering, has raised $16.5 million of funding.
All those kids standing in line on Fairfax Avenue aren’t waiting to get into a concert. They’re fans of the New York-based Supreme clothing store. Some stood in line since Monday for Thursday’s release of its fall and winter clothing and other “dope” threads, the Los Angeles Times reports. Some of the customers resell the items at huge markups.
Billionaire Elon Musk’s Tesla Motors is revamping its stores worldwide to attract new customers and to make way for its new Model X sport-utility vehicle, Bloomberg reports. As Tesla’s customer base evolves from a few tech-savvy wealthy people to more mainstream folks, the company has to focus on informing would-be buyers about the differences in electric cars. Also, Tesla now has its own fashion line with clothes and accessories designed in Los Angeles.
Stocks plummeted around the world Thursday over fears about the slowdown of China’s economy after its currency was devalued last week and whether the Federal Reserve will raise interest rates in September, the Los Angeles Times reports. U.S. indexes suffered their worst day since last October with the Walt Disney Co. falling 6 percent as a result of concerns about Disney's declining pay-TV subscriptions.
His goal was simple: walk the entire 15-mile Pico Boulevard, partially inspired by Los Angeles Times reporter Jonathan Gold's aim to eat at every restaurant on the street, LAist reports. Photographer Trevor Brightman engaged in conversations with strangers and took photos along the way. It took him more than eight hours to reach the edge of Santa Monica beach.
The Dow Jones industrial average was down 130 points in early trading Friday to 16,861. The S&P 500 was down 14 points to 2,022. The Nasdaq was down 30 points to 4,848. The LABJ Stock Index was flat at 226.
Hudson Pacific Properties sure is bullish on the Arts District. The west Los Angles real estate investment trust, which bought the former Coca-Cola manufacturing plant in the downtown district three months ago, now is snatching up nearly a complete square block’s worth of properties nearby. Hudson Pacific’s CEO recently said the Arts District “is approaching almost Beverly Hills type rental rates.” See the Los Angeles Business Journal’s coverage here.
After an outbreak first reported in February at UCLA Medical Center of patient infections from tainted medical scopes, now Huntington Memorial Hospital in Pasadena says it has the same problem with three patients, the Los Angeles Times reports. The infections also have been reported at Cedars-Sinai Medical Center and at hospitals nationwide. While the Food and Drug Administration is expected to address the concerns, the medical scopes are still on the market.
Ridesharing service Uber can’t seem to get a break. Now state prosecutors say the company’s background screening – which does not require drivers to submit fingerprints – didn’t reveal the fact that 25 drivers, who have driven thousands of customers in Los Angeles and San Francisco, had criminal records, the Los Angeles Times reports. One driver had even been convicted of second-degree murder. An Uber spokesperson said no background check is “foolproof.”
Business operators may find this hard to believe, but it appears the city of Los Angeles isn’t taxing businesses enough. The city is missing out on more than $20 million a year on taxes from businesses because city databases are not synced up with state and county databases for sales tax and business personal-property tax, according to an audit released Wednesday, the Los Angeles Times reports.
In a continuing saga, city officials say the Sunset and Gordon building on Sunset Boulevard cannot be used as a hotel, the Los Angeles Times reports. A violation against the high-rise was first issued in April because Los Angeles officials say the owners had not received city approval to use the building for short-term stays. A company leasing space in the building argues the city is wrong about those allegations.
The Los Angeles City Council’s Planning and Land Use Committee is to have a hearing next week regarding regulating short-term rentals, such as Airbnb, which are now illegal, the L.A. Weekly reports. While the city’s proposal would legalize them, it would only apply to primary residences and not second homes. The measure is being co-sponsored by City Councilman Mike Bonin who represents Venice Beach – a popular area for short-term rentals.
Now that embattled entertainment company Relativity Media has filed for bankruptcy protection, some of its assets are headed to an auction on Oct. 1, the Hollywood Reporter reports. The company is estimated to be worth about $250 million and has 27 film projects in development but also comes with a line of creditors.
It looks like Federal Reserve officials may be divided as to whether inflation has risen enough to merit raising the interest rate, according to minutes from a July meeting, the Los Angeles Times reports.