Los Angeles Business Journal

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Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

Big Payoffs No Longer Safe Bet for Casinos

GAMBLING: Setback in cards with rule shift.Some card rooms think they are getting a raw deal with a new state stance on third-party banking.

By Howard Fine August 19, 2016 midnight   Share

Hanjin to Present Restructuring Plan as Bankruptcy Deadline Nears

Embattled South Korean cargo container carrier Hanjin Shipping Co. Ltd. is expected to present a $1.1 billion liquidity plan Thursday in efforts to avoid bankruptcy.

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Banc of California Gets Naming Rights to New L.A. Soccer Stadium

The Los Angeles Football Club’s future 22,000-seat stadium will be called the Banc of California Stadium, according to an agreement between the soccer club and Irvine-based bank announced today.

Setback in Cards With Rule Shift

The long-running battle between local card rooms and tribal gaming casinos has a new skirmish line: a change in an obscure state rule that could cost the local card rooms millions of dollars in revenue each year.

L.A. Has Second Highest Number of Fast Growing Businesses Last Year

Los Angeles was the city with the second highest number of fast growing private businesses in the country last year, according to the 2016 Inc. 5000 list, published by Inc. Magazine on Aug. 17.

Westwood Real Estate Firm CityView Closes $150 Million Investment Fund

Westwood urban residential real estate investment and management firm CityView announced Monday that it had closed a $150 million equity fund to invest in multifamily housing in the Western and Southwestern United States.

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NFL’s Big Picture

Film producer and New York Giants co-owner Steve Tisch believes Rams, Los Angeles ready to play ball

Oscar-winning producer and New York Giants co-owner Steve Tisch talks how the Rams will play in Los Angeles.

West Hollywood’s Opinit Acquired by Canadian App Developer

West Hollywood social media curation service Opinit has agreed to be acquired by Canadian app developer Fundamental Applications Corp.

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A Look Ahead: What’s on the agenda for Los Angeles business in the coming week

ENERGY: Breitburn brass could receive millions from bankruptcy judge.

Executives at Breitburn Energy Partners, an L.A. oil and gas exploration partnership that filed for bankruptcy in May, could receive tens of millions of dollars in bonuses under a proposal to be considered in U.S. Bankruptcy Court on Aug. 18.

U.S. EPA Fines Two Local Operations for Hazardous Waste Storage Violations

The U.S. Environmental Protection Agency on Wednesday announced settlements with two Southern California facilities for improper handling of hazardous waste.

Funny Or Die Cuts Impact Nearly A Third of Staff

Comedy website Funny Or Die is laying off 37 of its staffers and closing its San Mateo office as it refocuses its resources on creating content.

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Knockout Opportunity

FITNESS: Sale of UFC to WME/IMG may boost franchising.

The purchase of Ultimate Fighting Championship by WME/IMG may boost the prospects for franchisees of its branded gyms.

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Scopely Closes Series B as Mobile Games Spur Race for Partnerships

Mobile game producer and distributor Scopely has closed a $55 million Series B funding round, bringing its total equity funding to $99 million.

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N.Y. Hotel Developer Checking Into Downtown

HOSPITALITY: Demand for rooms near Convention Center spurs large project.

Lightstone Group is moving forward with plans to build a $450 million hotel with 1,100 rooms across from the Convention Center.

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Radio, TV Broadcaster Tops Chart

INVESTMENT: Entravision hits No. 1 on list of most profitable.

Spanish-language radio and TV broadcaster Entravision dialed up its performance to top the Business Journal’s list of most profitable public companies.

Multilevel Marketing Makeover?

Herbalife Ltd.’s $200 million settlement with the Federal Trade Commission will mean a rethinking of how it conducts operations, but reimagining a $6 billion company’s business model is no easy task.

Business Journal sorts through the good and bad news in Herbalife’s $200 million FTC settlement.