Los Angeles Business Journal


Cornerstone OnDemand Expands Board

Cornerstone OnDemand, the Santa Monica cloud-based human resources software company, announced today it is adding an additional seat to its board.

Nurses Authorize Two-Day Strike of Kaiser, Providence

The California Nurses Association is calling on more than 2,400 nurses to strike Providence Health and Services hospitals in Santa Monica and Torrance and at Kaiser Permanente’s Los Angeles Medical Center next week over staffing levels and retention rates.

Ares Chief Antony Ressler to Buy Atlanta Hawks

Antony Ressler, the chief executive of Century City private equity and debt firm Ares Management, has agreed to buy the National Basketball Association’s Atlanta Hawks for about $850 million, sources told ESPN.

Mitch Englander Declares for Antonovich's Seat

Los Angeles City Councilman Mitch Englander announced on Wednesday that he is running for a seat on the Los Angeles County Board of Supervisors.

Gensler to Design Port Research Center

Downtown Los Angeles architecture firm Gensler will design three buildings planned at the 28-acre AltaSea marine research and interpretive center at the Port of Los Angeles.

DirecTV, AT&T Aim to Sweeten Proposed Merger for Regulators

In a quest to make their merger more attractive to the Federal Communications Commission, telecom giant AT&T and El Segundo satellite TV provider DirecTV are stressing to the commission how their combined assets would be beneficial to consumers.

Unified Grocers Sells Insurance Operations

Unified Grocers Inc. in Commerce, the largest wholesale grocery distributor in the Western U.S, announced Wednesday it will sell its Springfield Insurance Co. and Unified Grocers Insurance Services – both of which provide insurance to grocery stores that work with Unified – to New York’s AmTrust Financial Services, Inc.

Jacobs Engineering Takes Controlling Stake in Chinese Firm

A subsidiary of Pasadena-based Jacobs Engineering Group Inc. has acquired a controlling interest in China’s Suzhou Han’s Chemical Engineering Co. Ltd., a firm that holds special licenses needed to perform engineering work for chemical industry projects, Jacobs announced Wednesday.

Stocks Rise

The Dow Jones industrial average rose 89 points in Wednesday trading to close at 18,038. The S&P 500 rose 11 points to 2,108. The Nasdaq rose 21 points to 5,035. The LABJ Stock Index rose one point to 232.

Flush with Cash, AssetAvenue Joins an Accelerator

Despite $15 million in investments and 40 employees, commercial real estate loan crowdfunding website AssetAvenue of Los Angeles announced today it has joined real estate accelerator Reach.

RadPad Gets $9 Million to Grow Apartment Listings the Old-Fashioned Way

Apartment search and rent payment app RadPad of Santa Monica announced it raised a $9 million Series A investment round today to expand listings and grow the company’s local promotional teams.

Northrop and Caltech Explore Solar Power from Space

Aerospace manufacturer Northrop Grumman and the California Institute of Technology of Pasadena have partnered to research and develop a system of outer space solar panels that will transmit energy back to earth.

Carson Council Could OK NFL Stadium Tuesday

Carson’s City Council could decide Tuesday evening to approve the construction of an NFL stadium jointly proposed by the San Diego Chargers and Oakland Raiders.

American Apparel Faces New Suit

Less than a week after a group of former American Apparel Inc. employees sued the company on claims that the downtown L.A. apparel maker violated federal and state labor law, another former employee has accused the company of religious discrimination related to his firing nearly a year ago.

Earnings: Amgen, Jakks and East West Beat Estimates

Amgen Boosts Profits Amgen Inc.’s first quarter results beat analyst expectations Monday and the company raised its guidance for the rest of the year.

Markets Mixed

The Dow Jones industrial average fell 85 points in Tuesday trading to close at 17,950. The S&P 500 fell three points to 2,097. The Nasdaq fell 20 points to 5,014. The LABJ Stock Index was flat at 232.

Theater Coalition Launches Live Event Streaming

Going to the movies may no longer be a prerecorded affair.

Regulators Revise Proposed Water Cuts

After receiving more than 250 comments about the state-imposed water restrictions, the State Water Resources Control Board has released a revised list of proposed mandatory water cuts, giving some cities a break while hammering others where water usage is highest.

Earnings: Wilshire Beats, BBCN Meets Street Estimates

Koreatown’s Wilshire Bancorp Inc. reported second-quarter earnings Monday that beat Wall Street expectations by 20 percent.

Daily Breeze Wins Pulitzer

The Daily Breeze, the daily newspaper coving Los Angeles County’s South Bay, has won a Pulitzer Prize for local reporting.