Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

On.com Socializes Your Selfie

Oxford Dictionaries declared “selfie” as the word of 2013. That kind of verbal takeover helped prompt the creation of social network On.com, whose simple web and mobile platform is entirely based on, well, selfies.

Two Indicted in Alleged L.A. Medicare Scheme

An owner of Los Angeles home health agency Fifth Avenue Home Health has been indicted for allegedly aiding in a $33 million scheme to defraud Medicare, the U.S. Justice Department announced Thursday.

L.A. Awarded New MLS Team

Los Angeles will have two professional soccer teams again in 2017. Only three days after Chivas USA shut down, Major League Soccer announced that a new team had been awarded to an ownership group led by venture capitalist Henry Nguyen, Los Angeles Dodgers co-owner Peter Guber and former NBA executive Tom Penn.

Pacific Commerce Bank to Acquire Vibra Bank

Pacific Commerce Bank in Little Tokyo announced Thursday that it had reached an agreement to buy Chula Vista’s Vibra Bank, becoming the latest L.A.-area bank to hop onboard the merger train.

Earnings: Live Nation Beats, Oaktree Falls Short

Downtown Los Angeles investment manager Oaktree Capital Group reported third quarter earnings that missed estimates as it sold fewer holdings.

Mattel's American Girl Brand Expands to Mexico

American Girl is packing up and taking a trip to Mexico. El Segundo toy maker Mattel Inc., which owns the doll brand, on Thursday announced plans to open three shop-in-shop American Girl boutiques through a partnership with El Palacio de Hierro, a high-end retailer in Mexico. The first two American Girl shops will open next summer in Mexico City followed by a third location in fall 2015.

Hudson Pacific Snaps Up Playa Vista Building

A vacant ’80s-era office building in Playa Vista sold last week for $38 million. West L.A. real estate investment trust Hudson Pacific Properties Inc. paid nearly $373 a square foot for the 102,000-square-foot Marina Corporate Center at 12655 W. Jefferson Blvd. in a sale that closed Oct. 20.

Poll: With the start of the basketball season, which team are you more likely to watch?

Every week the Los Angeles Business Journal asks readers their views on a variety of business and economic issues. A running tally is available on the site and later will be published in the Commentary section of our print edition. Our latest poll is available on the bottom right column of our home page.

Stocks Rise

The Dow Jones industrial average rose 221 points in Thursday trading to close at 17,195. The S&P 500 rose 12 points to 1,995. The Nasdaq rose 17 points to 4,566. The LABJ Stock Index rose two points to 212.

UBeam Ropes in $10 Million

UBeam, a Santa Monica wireless power company, has raised $10 million in a Series A round led by Upfront Ventures.

Whisper CEO Talks Guardian Report

Whisper Chief Executive Michael Heyward said he would fire the employee who allegedly told reporters that the anonymously posting app would track a user for life.

Would-Be Buyer Wants Response From RealD

The New York investment firm that offered to buy RealD earlier this month wrote a letter to RealD’s board on Wednesday expressing displeasure that it had not received a response to the offer.

TrueCar: Truck Sales a Good Sign for GOP

John Krafcik, president of Santa Monica car buying and selling platform TrueCar Inc., says there’s a strong correlation between states that vote Republican and high truck sales. Based on this, TrueCar is predicting that Republicans will come out ahead in next week’s midterm election.

With ‘Dragon 2’ Success, DreamWorks Beat Estimates

DreamWorks Animation SKG Inc. posted solid numbers in the third quarter helped by box office profits from the summer release “How to Train Your Dragon 2.”

Saban, Columbus, Barnathan, Zag to Open ZAG Animation Studios

A new joint venture among high-profile entertainment industry professionals will operate a studio in Glendale to produce animated and hybrid animated-live action feature films.

Stocks Down

The Dow Jones industrial average fell 31 points in Wednesday trading to close at 16,974. The S&P 500 fell three points to 1,982. The Nasdaq fell 15 points 4,549. The LABJ Stock Index was flat at 209.

Marketing Firm Trailer Park Settles Down in Hollywood

Entertainment marketing agency Trailer Park, which specializes in creating trailers for motion pictures, including for recent films such as “The Judge,” “Guardians of the Galaxy” and “Godzilla,” has expanded its commitment to Hollywood.

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P.S. XO and Seedling Merge, Raise $7 Million

P.S. XO, a party planning e-commerce company co-founded by actress Soleil Moon Frye, has merged with toy and craft brand Seedling. The combined entity, which will continue under the Seedling brand, is also announcing $7 million in funding.

Council Asks for Minimum Wage Study

A Los Angeles City Council committee on Tuesday called for an independent study of two proposals to raise the minimum wage, delaying consideration of a wage hike until at least early next year.

ScoreBig Scores, Well, Big With $18 Million

ScoreBig.com, an online marketplace that finds discounted live event tickets, has raised $18 million in Series D funding.