Los Angeles Business Journal


Dutchman Indicted on Identity Theft, Hacking Charges Related to Film Thefts

A Dutch national was indicted Tuesday by a federal grand jury on aggravated identity theft and federal hacking charges related to the 2010 theft of three Hollywood movies, the Department of Justice said.

Machinima and Vimeo Join Forces

Machinima, a West Hollywood online gamer network, has partnered with Vimeo to produce exclusive content for the New York firm’s video-on-demand platform.

Lions Gate Invests in Telltale Games

Lions Gate has invested in San Rafael developer and publisher Telltale Games to further the Santa Monica studio’s brand expansion into gaming.

DreamWorks Selling, Leasing Back Campus in Glendale

DreamWorks Animation SKG Inc. plans to sell and lease back its Glendale campus as the struggling studio continues to deal with the fallout from a string of box office bombs.

State Plastic Bag Ban Put on Hold as Ballot Referendum Qualifies

Plastic bag manufacturers and other opponents of a statewide ban on plastic bags have qualified a referendum for the November 2016 ballot, thereby putting the ban on hold, the California Secretary of State’s office said Tuesday.


Restraining Order Closes Collective, Shareholders Approve Pacific Commerce Bank Purchase, Blackline Hires CFO, Lion to List on Nasdaq

Stocks Rise

The Dow Jones industrial average rose 92 points in Tuesday trading to close at 18,209. The S&P 500 rose six points to 2,115. The Nasdaq rose seven points to 4,968. The LABJ Stock Index fell one point to 225.

San Dimas Man Arrested in $9 Million Scheme to Defraud East West Bank

The Department of Justice announced Tuesday that it has arrested Chung Yu “Louis” Yeung of San Dimas for his alleged role in a scheme that Pasadena’s East West Bank said cost it more than $9 million. Yeung’s alleged co-conspirator, Guo Xiang “David” Fan, remains at large.

Sony Names Rothman as Pascal’s Replacement

Sony Pictures Entertainment has turned to veteran Hollywood executive Tom Rothman to chair its motion picture group following the departure of Amy Pascal.

Florida Developer Lands Downtown L.A. Site

South Florida residential developer Crescent Heights has purchased a half-acre development site in downtown Los Angeles for $11.5 million. The property, at 1045 S. Olive St., at the corner of 11th Street, is four blocks east of the L.A. Live entertainment complex.

State Agrees to Pay $24 Million to California First Investors

The state of California has agreed to pay $24 million to investors to settle a four-year legal battle over a proposed deal to sell $2.3 billion in state properties, officials announced Sunday.

Storied PCH Property May Be Resurrected

A storied property along Pacific Coast Highway that has seen its share of monkey business is about to take on a new role.

Employee Gets 5 Years for Embezzling From Long Beach Trucking Firm

A federal judge on Monday sentenced a Huntington Beach woman to more than five years in prison for embezzling $3.5 million from a Long Beach trucking company, the U.S. Attorney’s Office in Los Angeles announced Monday.

Port City Leaders Pledge Cooperation to Boost Competitiveness

Amid a backlog of shipping containers that have amassed during recent congestion at the twin ports of Los Angeles and Long Beach, mayors of both cities say they will work together rather than compete on new efforts aimed at addressing how changes in ocean trade affect the ports.

Disney Names New Parks Chief

Bob Chapek, a veteran Walt Disney Co. executive with broad experience, was named Monday as chief of the company’s sprawling parks and resorts division.

Stocks Mixed

The Dow Jones industrial average fell 24 points in Monday trading to close at 18,117. The S&P 500 fell one point to 2,110. The Nasdaq rose five points to 4,961. The LABJ Stock Index rose one point to 226.

Machinima Lays Off 13 Employees

Online gamer network Machinima has laid off 13 full-time employees, about 10 percent of its staff, in an effort to “focus its resources on high-growth opportunities.”

Unified Grocers Takes Over Raley’s Health, Wellness Operations

Unified Grocers Inc. in Commerce, the largest wholesale grocery distributor in the western United States, announced Monday that it has reached an agreement with Sacramento grocery chain Raley’s to take over its general merchandise, health, beauty and wellness operations. Unified will become Raley’s third-party provider for products related to those operations.

Stocks Down

The Dow Jones industrial average was down 42 points in Monday morning trading to 18,100. The S&P 500 was down three points to 2,107. The Nasdaq was down nine points to 4,947. The LABJ Stock index was flat at 225.

SAT Tutoring Business Tests Lower-Price Product

EDUCATION: Arbor Bridge offers pared-down, more affordable progam.

A Santa Monica test-prep company has launched a product aimed at making it easier and cheaper for high school students to get one-on-one SAT tutoring.