Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Crystal Cruises to Reuse Old Ocean Liner

The New York Times reported Monday that Crystal Cruises in Century City has announced plans to convert the SS United States, a historic ocean liner from the Cold War era, into a cruise ship called the United States by Crystal Cruises.

Stocks Down

The Dow Jones industrial average fell 178 points to close at 16,027 in Monday trading. The S&P 500 fell 27 points to 1,853. The Nasdaq fell 79 points to 4,283. The LABJ Stock Index fell 4 points to 204.

Dollar Shave Club and Honest Co. Run Super Bowl Ads

Online retailers Dollar Shave Club and Honest Co. ran their first Super Bowl advertisements on Sunday, signifying a major push to expand each company’s brand.

L.A. Tech Events Calendar: Feb. 8 - 21

Roundup of L.A. tech events in the next two weeks.

Pat Haden to Step Down as USC Athletic Director

USC athletic director Pat Haden will step down from his post June 30, according to a statement Friday from the university.

Silicon Beach Launch List: Feb. 5

A weekly roundup of L.A. tech company and product launches.

Silicon Beach Deal Flow: Feb. 5

A weekly roundup of must-read L.A. tech investments and acquisitions.

Honest Co. in IPO Talks

Online retailer Honest Co. is working with bankers for an initial public offering of its stock, according to sources cited by Bloomberg.

Virtual Reality Startup WEVR Raises $25 Million

Virtual reality content producer and publisher WEVR of Venice has raised a $25 million round.

Hasbro-Mattel Merger Rumors Cause Tremors In Toyland

CNBC reported Friday that negotiations for a Hasbro-Mattel merger aren't ongoing, contrary to earlier reports that the two toymakers began discussions of a merger in late 2015.

LAX Project Among Largest In L.A. History

The $5 billion Landside Access Modernization Project, one of the largest construction endeavors in Los Angeles history, promises to revolutionize road and rail access to the Los Angeles International Airport and serve as the cornerstone for the airport, the Daily Breeze reported Friday.

Westfield Has Designs on LAX’s Future

The Sydney Morning Herald reported Friday that global retail giant Westfield has invested close to $100 million in the Los Angeles International Airport as part of its transformation of transport hubs across North America.

Multi-Ethnic Coalition Pushes For Diversity

The Multi-Ethnic Coalition called on major Hollywood studios to do a better job of representing America's diversity at a news conference in Pasadena Thursday, according to the Los Angeles Times.

Drought-Caused Vegetable Price Fluctuations Tough to Swallow

It's been a wild season in the winter produce market dominated by California growers, who are responsible for 90 percent of the country's many winter vegetables, the Los Angeles Times noted in a report tied to California vegetables’ role in filling Super Bowl snack spreads.

What to Watch this Weekend

Sandro Monetti’s business take on this week’s new movie releases.

PE Roundup: Private Equity Deals Announced This Week

Brentwood private equity firm Angeles Equity Partners announced Wednesday that its affiliate has acquired U.G.N. Inc., an automotive noise damping products maker headquartered in Chicago Heights, Ill. The business will now operate under the name Applied Acoustics International. Financial terms were not disclosed.

Stocks Down

The Dow Jones industrial average fell 212 points in Friday trading to close at 16,205. The S&P fell 35 points to 1,880. The Nasdaq fell 146 points to 4,363. The LABJ Stock Index fell 6 points to 208.

Marathon Patent, Nova Lifestyle Among This Week’s Movers

Shares of Marathon Patent Group, Inc., a Santa Monica company that acquires assets from patent holders, rose 39% to close the week at $2.50 a share. Nova Lifestyle, Inc., a furniture manufacturer in Commerce, rose 28% this week to close at $1.52 a share. The week’s biggest loser was Differential Brands Group, Inc., a Commerce firm developing clothing brands such as Joe’s Jeans, Robert Graham and Hudson in for retail, e-commerce and licensing channels, falling 33% to close at $5.35 a share.

Marathon Patent, Nova Lifestyle Among This Week’s Movers

Shares of Marathon Patent Group, Inc., a Santa Monica company that acquires assets from patent holders, rose 39% to close the week at $2.50 a share. Nova Lifestyle, Inc., a furniture manufacturer in Commerce, rose 28% this week to close at $1.52 a share. The week’s biggest loser was Differential Brands Group, Inc., a Commerce firm developing clothing brands such as Joe’s Jeans, Robert Graham and Hudson in for retail, e-commerce and licensing channels, falling 33% to close at $5.35 a share.

Marathon Patent, Nova Lifestyle Among This Week’s Movers

Shares of Marathon Patent Group, Inc., a Santa Monica company that acquires assets from patent holders, rose 39% to close the week at $2.50 a share. Nova Lifestyle, Inc., a furniture manufacturer in Commerce, rose 28% this week to close at $1.52 a share.