Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

U.S. Auto Parts Founder Wants Company to Sell

Mehran Nia, the co-founder and former chief executive of Carson online parts retailer U.S. Auto Parts Network Inc., is calling on the company to explore a sale.

Netflix to FCC: AT&T-DirecTV Deal Could Prevent ‘Cord-Cutting’

Netflix does not want the Federal Communications Commission to approve AT&T’s proposed purchase of El Segundo-based satellite TV giant DirecTV unless changes are made to the merger.

Earnings: Disney, Herbalife Beat Street

Walt Disney Co. on Tuesday beat Wall Street earnings forecasts for its fiscal second quarter as it benefited from strong advertising sales and the continuing popularity of merchandise from the film “Frozen.”

Stocks Fall

The Dow Jones industrial average fell 142 points in Tuesday trading to close at 17,928. The S&P 500 fell 25 points to 2,089. The Nasdaq fell 78 points to 4,939. The LABJ Stock Index fell three points to 229.

Fullscreen Buys Social Media Promotion Company

Fullscreen, the Playa Vista video creator and YouTube multichannel network, has acquired social media promotion company McBeard Media. Terms of the deal were not disclosed, but all of McBeard’s 100-plus employees will join Fullscreen, according to Alan Beard, the firm’s chief executive.

L.A. Tourism Breaks Records in 2014

Last year was a record-setter for L.A. tourism, with 2014 breaking previous records for the number of visitors, visitor spending, hotel occupancy and number of rooms sold in the county, the Los Angeles Tourism & Convention Board announced Tuesday.

Pushed by Activists, Macerich Adds Independent Directors

Santa Monica mall operator Macerich Co. announced Monday the company is adding two independent directors to its board and ending its stockholder rights plan or “poison pill” in a move aimed at placating activist investors.

Universal Reaches Home-Video Royalties Settlement

Universal Pictures has reached a $26 million settlement in a class action lawsuit over underpayment of royalties to creative professionals who worked on home-video releases.

L.A. Restaurateurs Want Tips to Count Toward Minimum Wage

As Los Angeles city officials consider hiking the minimum wage to as much as $15.25 an hour, local restaurant owners on Monday proposed a lower wage level for servers who receive tips.

Local Factoring Firms to Combine

Calabasas specialty finance firm Fast A/R Funding announced Monday that it has acquired Continental Business Credit in Woodland Hills, a fellow specialty finance firm and asset-based lender. Terms of the deal were not disclosed.

CBRE Acquires South Carolina Affiliate

Downtown L.A. commercial real estate giant CBRE Group Inc. has acquired one of its affiliates, CBRE Columbia, a commercial real estate services firm in South Carolina.

Snyder Signs First Tenant at Hollywood Development

Miracle Mile developer J.H. Snyder Co. has signed its first lease for a creative office campus it is building in Hollywood.

Stocks Rise

The Dow Jones industrial average rose 46 points in Monday trading to close at 18,070. The S&P 500 rose six points to 2,114. The Nasdaq rose 12 points to 5,017. The LABJ stock index rose one point to 232.

Harbor Truckers Back to Work

A five-day strike by truck drivers at trucking companies’ headquarters, truck yards and at terminals at the ports of Los Angeles and Long Beach is over after drivers returned to work Friday.

L.A. Launch List: May 1

The Los Angeles Business Journal brings you a weekly roundup of L.A. tech company and product launches.

Asian Manufacturers Reach Milestones

Two Asian transportation companies that recently built manufacturing plants in the Antelope Valley reported major progress this week fulfilling orders from the Los Angeles County Metropolitan Transportation Authority.

PE Roundup: Private Equity Deals Announced This Week

Beverly Hills firm Platinum Equity announced Monday that it has acquired Ying Shing Enterprises Ltd., a Hong Kong injection molding and metal stamping company. Terms of the deal were not disclosed.

Tetra Tech, Big 5 Among This Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies fell slightly for the week. The weighted LABJ index fell less than 2 percent to close at 230, with losers outpacing gainers 113 to 37. Seven companies closed the week unchanged.

Stocks Rise

The Dow Jones industrial average rose 184 points in Friday trading to close at 18,024. The S&P 500 rose 23 points to 2,108. The Nasdaq rose 64 points to 5,005. The LABJ Stock Index rose two points to 230.

Tease photo

Downtown’s Ace Hotel Sold, Buyer Keeping Brand

The Ace Hotel in downtown L.A.’s Broadway Theater District has been sold for $103 million to Chesapeake Lodging Trust. The Annapolis, Md., real estate investment trust entered into a new management agreement with Ace Hotel Group to continue to operate the hotel.