Los Angeles Business Journal


Millennium Entertainment Sold to Managers

Film distributor Millennium Entertainment has been sold in a management buyout, according to a report in Deadline Hollywood.

Stocks Rise

The Dow Jones industrial average gained 81 points in Tuesday’s trading to close at 16,920. The S&P 500 gained 10 points to close at 1,982. The Nasdaq gained 19 points to close at 4,528. The LABJ Stock Index gained a point to close at 204.

Hovelstay.com Books $1.2 Million Series A

Hovelstay.com, which promises eclectic lodging options at very low prices, has secured $1.2 million in Series A funding.

SpaceX Valued at $10 Billion

Elon Musk’s Space Exploration Technologies, commonly known as SpaceX, is raising money that would value the company at nearly $10 billion, according to reports.

Atlas Capital Leads Group Acquiring Evoq Properties

Atlas Capital Group is leading a group of real estate investment firms poised to acquire Los Angeles real estate management firm Evoq Properties Inc. for some $357 million.

Shareholders Favor Sport Chalet Sale

Sport Chalet Inc. shareholders have approved a $70 million acquisition of the La Canada Flintridge retailer by a Connecticut sporting goods company, the companies announced Monday.

American Apparel Narrows Loss

American Apparel reported on Monday that it narrowed its loss for the second quarter although it was still deeper than expected.

Daily Journal Swings to Loss

Daily Journal Corp. swung to a loss in the nine months ended June 30 despite an increase in revenue, the company announced Monday.

Stocks Rise

The Dow Jones industrial average gained 176 points in Monday’s trading to close at 16,839. The S&P 500 gained 17 points to close at 1,972. The Nasdaq gained 43 points to close at 4,508. The LABJ Stock Index gained a point to close at 203.

Tease photo

Truth Be Told

23-year-old spins tweeted facts into big bucks

UberFacts’ Kris Sanchez has turned his 7 million Twitter followers into a true gold mine.

Company Tries Hand at Longer Touchable Videos

TECHNOLOGY: Approach by Cinematique lets viewers stockpile touted products.

Cinematique hopes to make the scene with interactive videos that tout products.

L.A. Unemployment Stays at 8.1 Percent

L.A.’s unemployment rate held steady at 8.1 percent for July even as the county lost 58,000 jobs in July as schools let out for the summer, according to state figures released Friday.

Albertsons Reveals Data Breach

The company operating Albertsons supermarkets in Southern California and elsewhere reported Friday that customers’ credit and debit card information may have been compromised by a data breach.

July Cargo Volumes Flat in Los Angeles, Up in Long Beach

Officials for the ports of Los Angeles and Long Beach released data for July’s cargo volumes on Friday.

Superior Winning Proxy Fight

Superior Industries International Inc. announced on Friday that preliminary results indicate the company’s slate of candidates will be elected to the board of directors.

Condom Bill Fails in Senate

A bill requiring mandatory condom usage on adult film sets in California died Thursday in the Senate Appropriations Committee, but backers plan to re-introduce it next year.

Reed’s, Motorcar Parts of America Among Week’s Big Movers

The Los Angeles Business Journal’s index of the area’s largest public companies rose for the week.

Dow Jones Down; Nasdaq Up; S&P, LABJ Flat

The Dow Jones industrial average fell 51 points in Friday’s trading to close at 16,663. The S&P 500 was flat at 1,955. The Nasdaq rose 12 points to close at 4,465. The LABJ Stock Index was flat at 202.

Public Utilities Commission Fines Edison $24.5 Million

The California Public Utilities Commission announced Thursday that it has fined utility giant Southern California Edison $24.5 million for violations involving two 2011 incidents that left three people dead and more than 400,000 without power for as long as eight days.

Production Tax Credit Bill Advances

California lawmakers on Thursday advanced a bill to combat runaway production by expanding the state's film and TV tax credit.