Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Stocks Rise

The Dow Jones industrial average rose six points in Wednesday trading to close at 18,030. The S&P 500 was flat at 2,082. The Nasdaq rose eight points to 4,773. The LABJ Stock Index rose one point to 217.

J2 Global Pushes Takeover Bid for Carbonite

Hollywood Internet services firm J2 Global Inc. is pushing hard to close its unsolicited offer to buy the Boston backup storage provider Carbonite Inc. for $415 million.

Serta Simmons to Close Compton Plant, Lay Off Workers

Mattress manufacturer Serta Simmons Holdings of Hoffman Estates, Ill. will close its Compton plant early next year and lay off 94 people, the company told the state’s Employment Development Department.

'The Interview' to Hit YouTube, Google Play; Sony in Talks with Netflix

Sony Pictures Entertainment released “The Interview” online on Wednesday morning, making it available for purchase on YouTube, Google Play, Microsoft Inc.'s Xbox Video and the Sony-created website seetheinterview.com.

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L.A. Launch List: Dec. 24

This week's Launch List: A Spanish-language video service, an Apple Pay-friendly ticketing app and the all-important debate on whether Santa Claus is real.

Markets Mixed

The Dow Jones industrial average rose 65 points in Tuesday trading to close at 18,024. The S&P 500 rose four points to 2,082. The Nasdaq fell 16 points to 4,765.

Groups Ask President Obama to End Port Dispute

Frustrated that the Pacific Maritime Association and the International Longshore and Warehouse Union are still negotiating a new labor contract for West Coast ports, 166 groups have called on President Barack Obama to immediately help resolve the contentious issue.

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Work/Life: David Dressler

The co-founder of Tender Greens on hamster wheels, 50 hour work weeks and having it all.

Before David Dressler co-founded Tender Greens, the Culver City fast-casual chain, he had almost every conceivable food and beverage management position at prominent hotels across the country, including the Regent Beverly Wilshire in Beverly Hills. In 2001, he became director of food and beverage at Shutters on the Beach in Santa Monica, where he met Erik Oberholtzer and Matt Lyman, both chefs and soon-to-be business partners. Inspired by a shared vision of creating a place where “a chef would eat on his day off,” Dressler, Oberholtzer and Lyman opened Tender Greens in June 2006. The company now has more than 1,000 employees and 17 California locations in Los Angeles, San Diego, Orange County and the Bay Area, with plans to open 30 restaurants by 2016. We spoke with Dressler about how his attitude toward work/life balance affects the company.

Sony to Release 'The Interview' After All

Sony Pictures Entertainment will be releasing controversial film “The Interview” in theaters on Christmas Day after all.

Green Dot Extends Deal With Wal-Mart – For Now

Monrovia prepaid debit card company Green Dot Corp. has extended its distribution deal with Wal-Mart Stores Inc., but for just another eight months – an announcement that earned mixed reviews from analysts.

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Judge Orders Nestdrop to Stop Delivering Weed

Los Angeles City Attorney Mike Feuer announced Tuesday that his office has successfully secured a preliminary injunction against the operators of the Hollywood startup Nestdrop, a smartphone application for medical marijuana and alcohol delivery.

Timeline Labs Acquired for $22 Million

Timeline Labs, a social analytics company, has been acquired by SeaChange International for $22 million in a cash-and-stock deal, with an additional $2.5 million available in performance earn outs.

Social Reality Buys First Delta

Social Reality, a downtown Los Angeles Internet advertising firm, has acquired Santa Monica ad tech company Five Delta.

Bank Leumi Admits to Hiding Assets in Offshore Bank Accounts

A major Israeli international bank admitted that it conspired to help U.S. taxpayers present false tax returns to the Internal Revenue Service by hiding income and assets in offshore bank accounts in Israel and elsewhere around the world, the Department of Justice announced today.

American Apparel: Takeover Bid, Board Shakeup and ‘Betrayal’

American Apparel Inc. on Monday confirmed reports that a buyer has expressed interest in acquiring the company for as much as $1.40 a share.

DirecTV Launches Digital Subscription Service

Joining the growing number of broadcasters seeking to expand beyond television, DirecTV has launched Yaveo, its first Internet-only subscription video service, which will feature Spanish-language programming in conjunction with partners that include Univision Communications and Viacom.

Stocks Rise

The Dow Jones industrial average rose 155 points in Monday trading to close at 17,959. The S&P 500 rose eight points to 2,079. The Nasdaq rose 16 points to 4,781. The LABJ Stock Index was flat at 218.

CV Studios Signs Exclusive ZTE Distribution Deal

CV Studios Entertainment, a Beverly Hills media and tech solutions company, will be the exclusive reseller of Chinese telecom giant ZTE’s cloud-based business-to-business products.

Zealot Networks Valued at $100 Million

Zealot Networks, led by former Maker Studios chief Danny Zappin, has received an investment that values the digital media startup at $100 million.

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Disneyland Looks to Ride Instagram Popularity

INTERNET: Park charges MomentFeed with turning photos into boon for brand.

Disneyland visitors’ Instagram photos have given the park an e-ticket to an e-marketing opportunity.