Los Angeles Business Journal

Exxon Given Green Light to Truck Out Oil

Exxon Mobil. won approval Monday to use trucks to move more than 17 million gallons of oil in storage tanks, the AP reports. The oil has been stuck since a pipeline break in May caused an oil spill in Santa Barbara, the largest coastal spill in 25 years.

Chipotle Stocks Rally

Two E. coli outbreaks tied to Chipotle Mexican Grill appear to be over, the Centers for Disease Control and Prevention said. According to the Los Angeles Times, shares of the company rallied upon the news. Stocks closed Monday up 4 percent.

Some Former Coastal Commissioners Oppose Ousting Exec

Thirty-five former members of the California Coastal Commission oppose an effort to fire Charles Lester, the embattled executive director of the land-use agency, the Los Angeles Times reports. The effort to oust the director reportedly pits pro- and anti-development factions.

Winner, Claim Thy Prize

If a SuperLotto winner fails to come forward by Thursday, a $63 million prize will be forfeited and go toward California’s public schools, CBSLA reports. The winning ticket was bought in August at a 7-Eleven in Chatsworth.

Stocks Down

The Dow Jones industrial average was down 248 points in early trading Tuesday to 16,202. The S&P 500 was down 26 points to 1,913. The Nasdaq was down 54 points to 4,569. The LABJ Stock Index was down 3 points to 213.

South Bay Cities Oppose State´s Pot Regs

Cities are making their own rules regarding federally banned marijuana. Torrance, Manhattan Beach, Hawthorne, Lawndale and Gardena have enacted comprehensive medical-marijuana prohibitions, with Hermosa Beach, El Segundo and Rancho Palos Verdes poised to do the same by next month, the Daily Breeze reports.

SoCal Casinos Aim to Lure Millennials

Casino executives are turning their attention to younger millennials, increasingly sure that baby boomers may soon be placing their last bets. According to the Los Angeles Times, large-scale projects including the $50 million renovation of the Bicycle Casino in Bell Gardens and a $285-million casino in the works by the Pechanga Band of Luiseño Indians are aimed at reaching a younger audience.

O´Hara´s Closes Its Doors

The last of Westwood's dive bars, O’Hara’s, celebrated its final night of business Saturday, the Los Angeles Times reports. Rocco's Tavern, an Italian-themed chain restaurant, will replace the bar.

‘Kung Fu Panda 3’ Opens On Top

"Kung Fu Panda 3" led the North American box office this weekend, with a respectable $41 million. According to Fox, the DreamWorks Animation film cost $145 million to make and earned an "A'' CinemaScore from audiences — 70 percent of whom were families. "The Revenant" and "Star Wars: The Force Awakens" took second and third place, respectively.

Stocks Down

The Dow Jones industrial average was down 133 in early trading Monday to 16,333.. The S&P 500 was down 14 points to 1,926. The Nasdaq was down 31 points to 4,583. The LABJ Stock Index was down one point to 215.

New Fees for California Solar Owners

California regulators have passed rules that will increase costs for owners of rooftop solar systems, the Los Angeles Times reports. But the state's investor-owned utilities said the added charges, which passed by a 3-2 vote Thursday, do not go far enough.

SoCalGas to Pay for Gas Leak Repairs

Southern California Gas Co. said Thursday that the utility can pay for all costs associated with the natural gas leak at Porter Ranch, the L.A. Daily News reports. However, SoCalGas President and Chief Executive Dennis Arriola did not guarantee that there would be no cost to the public.

Audit: City of Industry Didn´t Track Millions

A state review said that the City of Industry paid tens of millions of dollars to city contractors without keeping track of how the money was spent, according to the Los Angeles Times. Auditors found that city officials charged expensive meals, wine tastings, massages, an iPad and a 65-inch television to city credit cards, noting that a total of 83 percent of all charges over the period reviewed were "questionable."

LA Vacancy Rate Falls

The rental vacancy rate for Los Angeles was 2.7 percent in the last quarter of 2015, compared to 3.8 percent in the first three months of the year, according to KPCC. That makes Los Angeles one of the tightest rental markets in the country.

Commercial Tenants to Stay on Veterans Campus in Westwood

A plan to overhaul the V.A.'s Westwood campus was unveiled Thursday, showing that some commercial tenants will likely be allowed to stay, KPCC reports. The V.A.'s proposal includes 1,200 units of permanent supportive housing for veterans and allows UCLA and the Brentwood School to keep their facilities.