Los Angeles Business Journal

City Approval for Inglewood Stadium Could Come Today

An 80,000-seat NFL stadium in Inglewood proposed by St. Louis Rams owner Stan Kroenke could be approved today by the City Council, or it could call for a special election, the Daily News reports.

Lions Gate Invests in Game Developer

Santa Monica’s Lions Gate, looking to expand its business beyond movies and television, and has invested in Telltale Games, developer of games based on AMC’s “The Walking Dead” and HBO’s “Game of Thrones,” Variety reports.

Pressure Overload Led to Torrance Gas Explosion

The explosion at the ExxonMobil refinery in Torrance last Wednesday, which sent ash into nearby neighborhoods, was caused by too much pressure on a piece of equipment, the Los Angeles Times reports.

Request Denied: 70-Foot-Tall Lights Will Stay in Malibu

A Los Angeles Superior Court judge has denied a request by Malibu residents to block 70-foot-tall athletic field lights at Malibu High School, the Los Angeles Times reports. The Malibu Community Preservation Alliance argued in the lawsuit that the lights would disturb the neighborhood’s natural environment.

Best Winter, Worst Winter

With an average temperature of 47.8 degrees, 5.1 degrees warmer than the 20th century average, California is having one of its warmest winters on record, according to the National Climatic Data Center. Meanwhile, Boston is close to setting a record for the snowiest winter, and today’s forecast is predicting below-zero lows for the city, the Los Angeles Times reports.

Stocks Up

The Dow Jones industrial average was up 58 points in Tuesday morning trading to 18,174. The S&P 500 was up three points to 2,112. The Nasdaq was up one point to 4,961. The LABJ Stock Index was down one point to 225.

West Coast Ports Resume Operations, Face Backlog

Full operations resumed at West Coast ports Saturday evening, after the International Longshore and Warehouse Union and the Pacific Maritime Association came to a tentative agreement on a five-year labor contract on Friday that now must be ratified by members, the Wall Street Journal reports. According to port officials and logistics experts, it will likely take months for the backlog to clear.

Oscars Protest Canceled at ‘Selma’ Director’s Request

Protests that were planned for Sunday over the lack of diversity among Academy Award nominees were canceled at the request of “Selma” director Ava DuVernay, the Los Angeles Times reports.

L.A. Forecast: Rain, Snow

A cold front brings rain and snow to Southern California for a second day today, with the National Weather Service forecasting the chance of rain this morning at 50 percent along the coast, in metropolitan Los Angeles, and in the San Fernando, Santa Clarita and Antelope valleys, the Daily News reports. In the San Gabriel Mountains in Los Angeles and Ventura counties, the storm is expected to generate snowfall through this afternoon, most of which is predicted to fall in areas above 6,000 feet, where between four and seven inches of accumulation are expected.

California Plans to Spend $20 Million on Fuel Stations for Hydrogen Cars

Part of former Gov. Arnold Schwarzenegger’s dream of a “hydrogen highway” might come true: the California Energy Commission reports that it is spending $20 million to build nearly half of the approximately 100 stations needed to give a driver of a hydrogen car enough range to travel freely through most parts of California, the Los Angeles Times reports.

L.A.’s Small Theater Community Speaks Out Against Wage Hike

An impassioned meeting about the future of Los Angeles County's small-theater community Saturday at the Renberg Theatre at the Los Angeles LGBT Center in Hollywood drew an overflow crowd of well over 200 theater folks, as the dozens of speakers, including Tim Robbins, expressed concerns that the proposed $9 an hour wage hike will negatively impact small venues, which typically pay actors $7 to $15 per performance, and nothing for rehearsals, the Los Angeles Times reports.

HSBC Chief Responds to Reports of $7.7 Million Swiss Bank Account

Stuart Gulliver, the chief executive of HSBC responded today to news reports over the weekend that he kept almost $7.7 million in a Swiss bank account through a Panamanian company until 2003, defending the account as legal and saying that he paid all taxes on the money that he put in it, the New York Times reports. Details of the bank account, reported by the Guardian, came from leaked files stolen by an HSBC whistle-blower and came to light at the end of a week of new revelations of how HSBC reportedly helped clients evade taxes before 2007.

Selma Would Win Best Picture Oscar if Chosen By Social Media

A digital marketing firm studied 600,000 websites in addition to countless tweets and Facebook postings, and found that the Martin Luther King Jr. drama “Selma” was the public's choice for the best picture category at the Academy Awards last night, according to the Hollywood Reporter. “Birdman,” the film that actually won the award, was the public’s third choice according to the study by Amobee Brand Intelligence.

Labor Secretary: Deadline for Port Talks is Today

Secretary of Labor Thomas Perez on Thursday issued a deadline to the the two sides battling it out at the West Coast ports, telling them that if they don’t reach an agreement by the end of today, they'll have to leave California and negotiate in Washington, the Associated Press reports.

Local and State Leaders Frustrated That Port Negotiations Held Up by Fate of One Arbitrator

California political leaders including Los Angeles Mayor Eric Garcetti voiced growing frustration Thursday with the labor standoff that has clogged West Coast ports, as word spread that the main sticking point in negotiations has been the fate of a single low-level arbitrator, David Miller, who the union wants to fire against the wishes of the Pacific Maritime Assn., the Los Angeles Times reports.