Los Angeles Business Journal


Silicon Beach Launch List: Nov. 20

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

Glendale Office Buildings Sell for $18.7 Million

Two Glendale office buildings, at 1011 and 1015 Grandview Ave., have sold to a reality television production company currently located in Van Nuys.

Skechers, OSI Systems Among This Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies was up 5 percent for the week to close at 244. Gainers outpaced losers 108 to 41. Six companies closed the week unchanged.

County Unemployment Falls to 6.1 Percent

L.A. County’s unemployment rate fell last month to 6.1 percent as the county added 38,000 jobs, state figures released Friday show.

Stocks Rise

The Dow Jones industrial average rose 91 points in Friday trading to close at 17,824. The S&P 500 rose 8 points to 2,089. The Nasdaq rose 31 points to 5,105. The LABJ Stock Index rose 2 points to 244.

American Apparel Gets Approval for Bankruptcy Plan

Downtown Los Angeles apparel maker American Apparel Inc. has been cleared by a Delaware judge to send its bankruptcy plan for a vote to its unpaid creditors, Daily Bankruptcy Review reports.

Report: ICANN Spent $2.5 Million on Lobbying

ICANN, the Internet domain name overseer based in Los Angeles, spent $2.5 million over the past year lobbying the U.S. government, an amount on par with multi-national corporations, The Register reports.

Tesla Motors Announces Largest Recall of Model S Cars

Billionaire Elon Musk’s Tesla Motors is recalling all 90,000 of its Model S cars due to a problem with a front seat belt, Bloomberg reports.

What to Watch This Weekend

Entertainment reporter Sandro Monetti’s business take on this weekend’s new movie releases.

Goldstar Events Raises $20.3 Million

Online discount ticketing company Goldstar Events Inc. of Pasadena has raised $20.3 million in a financing round, according to a filing with the Securities and Exchange Commission.

Agent Ace Rebrands, Raises $13.5 Million

Real estate agent matching website Agent Ace of Santa Monica has raised $13.5 million in a Series A round, acquired home-search website Fypio and rebranded as OpenHouse.

PCM Makes Big Buy

PCM, an IT services provider based in El Segundo formerly named PC Mall, announced that it has acquired the $800 million business-to-business assets of Systemax's North American Technology Group, according to CRN.com, a news site.

Why These Creative Tenants Are Moving to Miracle Mile

Downtown developer Ratkovich Co. announced this week six new lease agreements at its building at 5900 Wilshire Blvd. on the Miracle Mile, boosting its occupancy rate north of 95 percent.

Tinder CEO Interview ‘Unfortunate,’ Says Match’s Chief

Match Group Chairman Gregory Blatt on Thursday condemned an unflattering article about Tinder Chief Executive Sean Rad, CNBC reports.

Ring Links up With Insurer to Offer Discounts

Santa Monica’s Ring, a company that manufactures a doorbell with a video camera linked to an app, has inked a deal with Wisconsin’s American Family Insurance to give customers a discount.

State Orders SoCalGas to Stop Leak

The state’s chief regulator for oil and gas fields issued an emergency order to Southern California Gas Co. on Wednesday, demanding the Los Angeles company submit plans to seal a leak, The Los Angeles Daily News reports.

UC-Davis Study: Women Struggle to Climb Corporate Ladder

More women are chief executives at California’s largest 400 public companies, but they still hold just 12 percent of senior executive and director positions, according to an annual study by the University of California-Davis.

Charlie Sheen Quickly Offloading Mansions

Charlie Sheen is preparing to pare down his possessions following an announcement that he paid more than $10 million in hush money over his HIV-positive status, Variety reports.

Dominick’s Closing; Old Rat Pack Hangout

The legendary Dominick’s, known as a former Rat Pack hangout, is shutting its doors, LAist reports.

Stocks Fall; Ritter Pharmaceuticals Rises, Rentech Sinks

The Dow Jones industrial average fell 4 points in Thursday trading to close at 17,733. The S&P 500 fell 2 points to 2,081. The Nasdaq fell 2 points to 5,074. The LABJ Stock Index was flat at 242.