Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Insurance Commissioner Urges Work Comp Rate Cut

State Insurance Commissioner Dave Jones on Friday announced he has recommended a 10 percent cut in the workers’ comp premium rate that insurers charge employers, the first such recommended cut in four years.

Appeals Court Tosses FCC Request for Programming Contracts

In a move that could impact AT&T Inc.’s proposed acquisition of El Segundo satellite TV giant DirecTV, a Federal Appeals Court on Friday threw out a request by the Federal Communications Commission that media companies disclose their programming deals with cable television providers.

Hollywood Lighting Company Plans Move to Valley

Entertainment industry lighting manufacturer Mole-Richardson Co. is moving its headquarters and factory to Pacoima from Hollywood.

Interactive Nintendo Rides Coming to Universal Studios

Universal Parks & Resorts is partnering with Japanese video game company Nintendo Co. Ltd. to build interactive rides at its theme parks.

U.S. Auto Parts Network Inc., Stamps.com Among Week’s Big Movers

The Los Angeles Business Journal’s index of the largest local public companies rose slightly for the week. The weighted LABJ index rose 1 percent to close at 232, with gainers outpacing losers 83 to 67. Six companies closed the week unchanged.

Stocks Rise

The Dow Jones industrial average rose 267 points in Friday trading to close at 18,191. The S&P 500 rose 28 points to 2,116. The Nasdaq rose 58 points to 5,004. The LABJ Stock Index rose three points to 232.

Charney Sues American Apparel Investor

Dov Charney, founder of American Apparel Inc. who was ousted as chief executive last year, has sued Standard General, a New York private equity firm that helped Charney amass shares of the downtown L.A. apparel maker but then failed to support him as he tried to mount a comeback as chief executive.

L.A. Times Owner Buys San Diego Paper

Los Angeles Times owner Tribune Publishing has expanded its reach in Southern California with an $85 million purchase of San Diego’s flagship newspaper.

MarketShare Receives $8 Million to Finance Recent Purchase

Marketing attribution company MarketShare of Westwood has raised an $8 million investment round to finance its April purchase of fellow marketing attribution company DataSong.

Sumner Redstone Addresses Succession, Sort Of

With his 92nd birthday approaching on May 27, entertainment titan Sumner Redstone has issued a statement about his succession plan – and it says he hasn’t made one.

Amgen Granted Novartis Injunction

An appeals court has blocked sales of Zarxio, a copycat version of Amgen Inc.’s blockbuster drug Neupogen.

Garcetti Signs Agreement to Fund Storm Water Treatment Project

Trying to address both the drought and the cleanup of Santa Monica Bay, Los Angeles Mayor Eric Garcetti signed an agreement on Thursday finalizing an estimated $40 million storm water treatment project to clean polluted runoff from Los Angeles International Airport before it runs into the bay.

Briefs: Tutor Perini Wins New York Contract, Molina Tops Estimates

Tutor Perini Corp. Gets $56.3 Million Contract Tutor Perini Corp. has won a $56.3 million contract from Amtrak for the Hudson Yards project in New York City.

Stocks Rise

The Dow Jones industrial average rose 82 points in Thursday trading to close at 17,924. The S&P 500 rose eight points to 2,088. The Nasdaq rose 26 points to 4,946. The LABJ Stock Index rose one point to 229.

Science Inc. Sells Off Mobile Ad Network PlayHaven

After just eight months of ownership, startup studio Science Inc. of Santa Monica announced yesterday that it had sold off its mobile advertising network PlayHaven to mobile game publisher RockYou of San Francisco for an undisclosed amount.

Greenlining Institute Withdraws Opposition to City National CRA Plan

Berkeley’s Greenlining Institute, a nonprofit organization that advocates for economic opportunity for ethnic minority communities, has withdrawn its opposition to downtown L.A.’s City National Bank’s Community Reinvestment Act plan and proposed merger with Toronto’s Royal Bank of Canada. That should help ease the merger.

Zealot Networks Hires Google Creative Director

Google Creative Director Jeben Berg has reunited with Danny Zappin, his former boss at Maker Studios. Zappin has lured Berg back down to Los Angeles to join his Zealot Networks as head of creative and marketing solutions.

Activision Beats Estimates, Lowers Full-Year Guidance

Santa Monica video game publisher Activision Blizzard Inc. beat first quarter earnings projections, posting adjusted net income of $116 million (16 cents a share) on revenue of $1.28 billion.

Playboy Signs New Licensing Deal in China

Playboy Enterprises Inc. in Beverly Hills is expanding its presence in China by way of a new decade-long licensing deal with Handong United.

Superior Industries to Move Headquarters to Michigan

Superior Industries International Inc. is relocating its headquarters from Van Nuys to a Detroit suburb, a move that will end the aluminum-wheel manufacturer’s presence in the San Fernando Valley and put it closer to its Detroit customers.