Los Angeles Business Journal


Preferred Bank Goes Bi-Coastal

Downtown L.A.’s Preferred Bank, which focuses on lending to Chinese-American businesses, announced Monday that it has signed an agreement to acquire United International Bank in Flushing, N.Y.

Stocks Rise; U.S. Auto Parts Revs Up, BreitBurn Energy Stalls

The Dow Jones industrial average rose 14 points in Monday trading to close at 18,100. The S&P 500 rose two points to 2,128. The Nasdaq rose nine points to 5,219. The LABJ Stock Index rose one point to 241.

L.A. Tech Event Calendar July 19 – Aug. 1

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

Blank Check for Gores Group

Gores Group plans to buy something – but it hasn’t said what.

L.A. Tech Deal Flow: July 17

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

L.A. Launch List: July 17

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

Insurrection Mixes Internet Video Production with Hollywood

Fox Television Group Senior Vice President Kiliaen Van Rensselaer announced his departure Wednesday to launch Insurrection Media, a digital studio he said would “shoot first ask questions later.”

Condom Measure to Make Ballot, Backers Say

Condoms could soon be coming to the ballot box.

Guess, Kite Pharma Among This Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies rose for the week. The weighted LABJ index rose 2 percent to close at 240, with gainers outnumbering losers 97 to 53. Six companies closed the week unchanged.

Investors Tie American Apparel’s Hands

At the downtown L.A. apparel maker’s annual meeting Thursday, shareholders voted against a proposal that would have boosted the total number of shares the company can sell, effectively limiting the amount of cash the company can raise by selling additional equity.

Markets Mixed

The Dow Jones industrial average fell 34 points in Friday trading to close at 18,086. The S&P 500 rose two points to 2,127. The Nasdaq rose 47 points to 5,210. The LABJ Stock Index fell one point to 240.

PE Roundup: Private Equity Deals Announced This Week

El Segundo firm Century Park Capital Partners announced Tuesday that it has acquired Better Life Technology, a Lenexa, Kan., manufacturer of specialized vinyl flooring products. Terms of the deal were not disclosed.

County Unemployment Falls Amid Slight Jobs Gain

L.A. County’s unemployment rate fell in June to 7.4 percent from 7.6 percent in May following a modest gain in employer payrolls, state figures released Friday show.

UCLA Health Data Breach Disclosed

UCLA Health announced today that hackers had accessed parts of its computer network containing personal and medical information. The hack may have occurred as early as last September. The health system said it had not found evidence that any individual’s information had been accessed.

BlueMountain Tapped to Back Daughters of Charity

After a long, contentious process, the Daughters of Charity Health System has announced a deal with private investment firm BlueMountain Capital Management to recapitalize its six ailing hospitals, including two in Los Angeles County, with more than $250 million.

FilmOn X is Cable Service Provider, Court Says

Billionaire Alkiviades “Alki” David has won a significant battle against the largest U.S. television networks – at least for now.

Uber, Lyft Ready for LAX Takeoff?

Uber, Lyft and other ridesharing companies are a step closer to being able to pick up passengers at Los Angeles International Airport.

Soon-Shiong’s NantHealth Buys Technology Firm

Billionaire Patrick Soon-Shiong’s health care IT firm NantHealth announced Thursday it has acquired Harris Healthcare Solutions. Terms of the deal were not disclosed, though Soon-Shiong said it is his firm’s largest acquisition to date.

Cargo Traffic Down in L.A., Long Beach

Cargo volume at the ports of Los Angeles and Long Beach fell last month compared with the same period last year, the latest figures show.

Earnings Roundup: Mattel Reports Flat Sales, East West Beat Estimates

Struggling El Seguno toymaker Mattel Inc. released second-quarter earnings after markets closed Thursday, reporting a smaller loss than analysts had expected.