Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Stocks Fall

The Dow Jones industrial average fell five points in Tuesday trading to close at 17,875. The S&P 500 fell four points to 2,076. The Nasdaq fell seven points to 4,910. The LABJ stock index was flat at 226.

Still in Testing, Hail Pay Is Snatched Up by Reserve

Restaurant reservation and meal payment app maker Reserve announced it had purchased Santa Monica restaurant payment app company Hail Pay for an undisclosed amount. Hail Pay was still being privately tested, but Reserve Chief Executive Greg Hong said the company’s group check splitting feature was impressive enough to make the deal worthwhile.

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Caruso to Buy Glendale Masonic Temple

Caruso Affiliated has struck a deal to purchase the former Masonic Temple in Glendale and plans to repurpose it as a mixed-use building.

Forecast: L.A. Economy to Continue Strong Growth This Year

The Los Angeles County economy will continue its strong growth this year and beyond, according to a forecast to be released this morning from Loyola Marymount University and Beacon Economics.

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J2 Shopping Spree Continues

J2’s acquisition streak has continued unabated in the first quarter, as the Internet service provider said today it had added nine more companies to its portfolio.

Metro Makes First ‘Business Interruption’ Payouts

A fund set aside by the Los Angeles County Metropolitan Transportation Authority to help businesses affected by the construction of transit projects made its first payments Monday, paying a combined $66,310 to four Crenshaw Boulevard businesses.

Disney, DreamWorks Antitrust Case is Dismissed

A federal court judge has dismissed a lawsuit against DreamWorks Animation SKG Inc., Walt Disney Co. and several other media companies over allegations they broke antitrust laws by conspiring to not hire each other’s animators and visual effects artists in order to keep salaries down.

Mattel’s Stock Climbs on Dividend Prediction

El Segundo toymaker Mattel Inc.’s stock rose 6 percent in Monday trading after Linda Bolton Weiser, an analyst with Los Angeles-based B. Riley & Co., upgraded Mattel to a “buy.” Weiser had previously given the stock a neutral rating, according to Bloomberg.

Comic-Con’s WonderCon is Coming to Los Angeles

Los Angeles has long sought to woo Comic-Con, the blockbuster annual pop-culture convention, away from San Diego.

MakerSquare to Set Up Shop in Los Angeles

MakerSquare, a coding “boot camp” operator, has set its sights on Los Angeles and expects to launch its first set of classes in June. The company, based in Austin, Texas, is expected to sign a lease for space in Venice or Santa Monica in the coming weeks.

Law Firm Gets Creative – Space

Downtown L.A.’s PacMutual, which has been repositioned to appeal to creative office tenants, last month signed its second-largest lease with an unexpected tenant: a new law firm.

Stocks Rise

The Dow Jones industrial average rose 118 points in Monday trading to close at 17,881. The S&P 500 rose 14 points to 2,081. The Nasdaq rose 30 points to 4,917. The LABJ Stock Index was flat at 226.

L.A. Tests Bluetooth-Enabled Parking Signs

To tackle public confusion around street parking restrictions, the City of Los Angeles announced Friday it will attach electronic beacons to 100 new parking signs as part of an experiment. The city envisions using the Bluetooth-equipped beacons to communicate parking restriction information to yet-to-be-developed apps for mobile phones and connected cars.

Disney Invests $250 Million in Sports Gambling Site

Walt Disney Co. is getting into the sports-betting business with a $250 million investment in Boston startup DraftKings Inc., according to media reports on Friday.

Dockworkers to Vote on Port Labor Deal

A longshore union caucus voted Friday to recommend approval of the West Coast port labor agreement reached in February, sending the deal on to rank-and-file union members for a vote next month.

SBE Heads to Mexico as Nazarian Returns

Days after Sam Nazarian’s return to SBE Entertainment Group, the company announced that it will be expanding into Mexico.

PE Roundup: Private Equity Deals Announced This Week

Publicly traded Santa Monica real estate investment firm Colony Financial Inc. announced Thursday that it has completed its combination with related Santa Monica private equity and investments firm Colony Capital.

CBRE, DreamWorks Among Week’s Big Movers

The Los Angeles Business Journal’s index of the largest local public companies fell slightly for the week.

L.A. Launch List: April 3

The Los Angeles Business Journal brings you a weekly roundup of L.A. launches.

Chicago’s Avant to Build R&D Team in Playa Vista

Fast growing online consumer lending company Avant of Chicago, fresh off the acquisition of online personal debt management company ReadyForZero, said it would be expanding its Los Angeles presence, making the region a hub for development of new products.