Los Angeles Business Journal


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Hanjin to Sell Assets as Containers Pile Up, Long Beach Cargo Drops

From empty containers piling up to a drastic drop in cargo numbers, the impact of Hanjin Shipping Co.’s bankruptcy filing this summer has continued to frustrate local businesses.

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Labels Pursue Video Payback

MUSIC: Recording industry fights YouTube-derived MP3s.

Record labels’ piracy lawsuit could be a tune-up in the fight against converting videos into MP3s.

Silicon Beach Report Oct. 13: Hyperloop One Raises $50 Million

Hyperloop One raises $50 million, Soylent tells customers to throw away vomit-inducing bars, Atari’s Nolan Bushnell launches virtual reality company, and more.

Reality and Web-Based TV Increased Filming in L.A. Last Quarter

Reality television and web-based TV productions helped boost Los Angeles-based production shooting days last quarter while features and commercials saw declines, FilmL.A. announced on Thursday.

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Downtown Federal Courthouse Gets Final Touches Before Opening

After $350 million and nearly four years of construction, downtown’s shiny new federal courthouse is ready for its public debut. Although the bulk of construction was completed in August, a ribbon-cutting ceremony is scheduled for Thursday and will feature speeches from Mayor Eric Garcetti, downtown councilman José Huizar and U.S. Rep. Lucille Roybal-Allard.

Silicon Beach Report Oct. 12: SolarReserve to Build $5B Thermal Solar Project in Nevada

SolarReserve to build $5 billion thermal solar project in Nevada, Snapchat picks Morgan Stanley and Goldman Sachs for IPO, Pluto TV Raises $30 million, and more.

Oaktree Capital Invests $85M in Canadian Food Company

Private equity firm Oaktree Capital Management has invested $85 million in Canadian organic and non-GMO food producer SunOpta Foods, Inc.

Wells Fargo CEO John Stumpf to Step Down

Wells Fargo & Co. announced today that the company’s Chief Executive John Stumpf is retiring and will step down as chairman and chief executive, effective immediately.

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SolarReserve to Build $5B Thermal Solar Project in Nevada

SolarReserve announced on Tuesday that it would build ten solar thermal plants on a Nye County site about 225 miles northwest of Las Vegas for $5 billion.

Silicon Beach Report Oct. 11: Snapchat Courting Hollywood Producers

Snapchat courting Hollywood producers, SpaceX expects to launch again by the end of the year, and FameBit acquired by Google.

Famebit Acquired by Google

Multichannel media network Famebit has been acquired by Google for an undisclosed amount.

Famebit Acquired by Google

Multichannel media network Famebit has been acquired by Google for an undisclosed amount.

L.A. City Economy Showing Broad, Robust Growth

The city of Los Angeles economy saw broad-based, steady growth last year, according to a report to be released this morning from Beacon Economics for the Los Angeles Area Chamber of Commerce.

Silicon Beach Report Oct. 10: Upfront Launches $40 Million Ancillary Fund

Upfront launches $40 Million ancillary fund, Disney builds one-legged robot, and La Kretz innovation campus opens.

Five New Industrial Buildings in El Monte on the Market

Five new industrial buildings totaling 501,270 square feet are now in the market in El Monte, giving the San Gabriel Valley city its first new industrial sites in about eight years.

Opponents Kick Off Campaign Against Initiative to Rein in Mega Developments

Representatives from business, affordable housing and labor groups officially launched their campaign Monday against an initiative on the March Los Angeles city ballot measure that would place a two-year moratorium on major development projects and place permanent restrictions on mega-developments.

Warner Music Group Inks Ford Factory Lease

Warner Music Group Corp. signed a long-term lease for the full Ford Factory in downtown’s Arts District, the company reported in a Securities and Exchange Commission filing on Friday.

Silicon Beach Report Oct. 7: Techstars Launches Music Accelerator

Techstars launches music accelerator, Rinse buys Washio’s assets, and Snapchat hires New York Post president for content team.

Movers for Week Ending October 7, 2016

Century City-based pharmaceuticals company Ritter Pharmaceuticals Inc.was this week’s biggest mover, gaining 17 percent to end at $1.97. Big 5 Sporting Goods Corp. was also among the week’s movers. The El Segundo-based sporting goods retailer gained 16 percent to end at $15.74. Patent acquisition company Marathon Patent Group was this week’s biggest loser, dropping 14 percent to end at $2.42.

Rand Corp. Locks Down $495M Deal on Homeland Security

Rand Corp. landed one of the biggest government contracts in its nearly 70-year history last week, a five-year deal worth as much as $495 million to set up a policy analysis center for the U.S. Department of Homeland Security.