Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Interim Chief to Stay On at Mattel

El Segundo toymaker Mattel Inc. has named Christopher Sinclair as its new chief executive, the company announced Thursday.

Satellite Contractors Charged in Kickbacks Case

Six men were arrested this week for allegedly paying kickbacks to an official at a Boeing Co. subsidiary in El Segundo that supplies satellites and related parts to NASA and other federal government entities, the U.S. Department of Justice said Thursday.

Legendary Entertainment Seeking $700 Million Refinancing

Independent production company Legendary Entertainment is seeking $700 million to strengthen its film financing business, according to media reports on Thursday.

Forecast for Local Hiring Optimistic

Prospects for job seekers in Los Angeles look promising for the next six months.

Stocks Rise

The Dow Jones industrial average rose 65 points in Thursday trading to close at 17,763. The S&P 500 rose seven points to 2,067. The Nasdaq rose seven points to 4,887. The LABJ Stock Index rose one point to 226.

MarketShare Purchases San Francisco Rival

Westwood’s MarketShare has purchased fellow marketing attribution company DataSong of San Francisco for an undisclosed amount. With the purchase, MarketShare will integrate DataSong’s software into its own, expand its employee count by 50 and grow its number of retail customers.

Struggling Mattel Dethroned – Again

Just a few months after Denmark’s Lego dethroned El Segundo’s Mattel Inc. as the world’s biggest toymaker by revenue, Mattel this week took another hit: On Monday, rival Hasbro Inc. of Pawtucket, R.I., surpassed Mattel’s market cap, becoming the most valuable publicly traded toy company.

Brown Orders State’s First Mandatory Water Cuts

It is a first for the state, but Gov. Jerry Brown said he had no choice but to issue mandatory water restrictions to force Los Angeles and other cities to reduce their use of drinking water by 25 percent.

FAA Will Track Helicopter Noise

The Federal Aviation Administration launched on Wednesday a new system for logging complaints about helicopter noise in Los Angeles County.

Burbank Passes Limits on ‘McMansions’

The Burbank City Council unanimously approved a temporary ordinance tightening restrictions on single-family home construction Tuesday after a contentious public hearing that stretched past midnight.

Pacshore, Canyon Make Creative Office Grab

Pacshore Partners, an L.A. real estate investment firm run by Philip Orosco, and Canyon Catalyst Fund, a joint venture between L.A.’s Canyon Capital Realty Advisors and California Public Employees’ Retirement System, have partnered to acquire creative office buildings in Malibu and Playa Vista in two separate transactions totaling $36 million.

Poll: Would you be more interested in boxing if matches were shorter, or resulted in more knockouts?

Every week the Los Angeles Business Journal asks readers their views on a variety of business and economic issues. A running tally is available on the site and later will be published in the Commentary section of our print edition. Our latest poll is available on the bottom right column of our home page.

Stocks Fall

The Dow Jones industrial average fell 78 points in Wednesday trading to close at 17,698. The S&P 500 fell eight points to 2,060. The Nasdaq fell 21 points to 4,880. The LABJ Stock Index fell one point to 225.

Rubicon Will Buy Chango to Go After ‘Intent Marketing’ Dollars

The Rubicon Project, an automated online advertising platform, announced an agreement Tuesday to buy online intent marketing business Chango for $122 million mostly in stock.

Two LA Venture Capitalists Help Launch Think Tank

Los Angeles venture capitalists Dana Settle, co-founder of Greycroft Partners, and Joseph Sanberg, co-founder of Aspiration.com and Pt Capital, are helping to launch a public policy and advocacy think tank named the Economic Innovation Group.

Briefs: UTi Tumbles, Ducommun Delays Earnings (Again)

Uti Shares Tumble on Earnings Shares of Long Beach freight-forwarding and logistics firm Uti Worldwide Inc. sank Tuesday after the company released fourth-quarter and full-year earnings that showed flagging revenue and a huge net loss.

CBRE Buys Johnson Controls Unit for $1.48 Billion

Downtown L.A. commercial real estate giant CBRE Group Inc. has purchased the Global Workplace Solutions unit of Milwaukee’s Johnson Controls Inc. for $1.475 billion.

Tetra Tech Lands $1 Billion Water Contract

Tetra Tech Inc. in Pasadena has won a federal government contract that could potentially bring it up to $1 billion in international water-management projects.

Wilshire Bank Opens First Georgia Branch

Koreatown’s Wilshire Bancorp Inc. announced Tuesday that it has opened its first full-service bank branch in Georgia, located in the city of LaGrange. The bank, Los Angeles County’s ninth-largest, primarily caters to the Korean-American community.

Westin Pasadena Hotel Sells High

In what Bruce Baltin of hospitality consulting firm PFK Consulting USA said was one of the biggest hotel deals in Los Angeles County this year, Carey Watermark Investors Inc., a New York real estate investment trust, bought the Westin Pasadena for $143 million, or about $408,000 a room, last week.