Los Angeles Business Journal


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Shippers Threaten Port Lockout

Frustrated after more than nine months of contract negotiations with the West Coast dockworkers’ union, the chief executive of the shippers bargaining group Pacific Maritime Association on Wednesday revealed details of its offer to the union in a conference call and threatened a shutdown of operations at West Coast ports.

New Mattel Chief Promises ‘Urgency’ After Weak Earnings Report

Mattel Inc.’s Interim Chief Executive Christopher Sinclair told investors Friday the El Segundo toymaker will make needed changes “with a heightened sense of urgency” as the company reported weak sales and earnings for the final quarter of last year.

OSI Moving Camarillo Operations to Hawthorne

Hawthorne manufacturer OSI Systems Inc. will vacate its Camarillo plant by April 30 to consolidate operations at its headquarters, company officials reported to the state’s Employment Development Department earlier this month.

Mattel Falls on CEO Resignation, Sales Estimates

Mattel Inc. shares dropped 5 percent Monday after the El Segundo toy maker announced that Bryan Stockton resigned as chairman and chief executive, and that early estimates of recent quarterly sales and net income fell off sharply from last year.

Jakks Scores Deal to Make “Halo” Toys

Malibu toymaker Jakks Pacific Inc. announced today that it has secured a licensing deal to make toys and costumes based on the Microsoft Studios video game “Halo.”

California Resources Drops Massive Carson Oil Drilling Plan

California Resources Corp. announced Monday that it has dropped plans for a major drilling project in Carson because of low oil prices.

Cargo up in Long Beach Last Year

Last year was the Port of Long Beach’s third-busiest, port officials said late Tuesday, as cargo container volume rose 1.3 percent over 2013.

Port Numbers Up Despite Cargo Diversion

Despite congestion at the harbor and reports of cargo being diverted to other West Coast ports, the Port of Los Angeles saw a slight uptick in cargo traffic last month over the same month a year earlier.

PMA to Reduce Night Work at Ports

The Pacific Maritime Association will stop calling on longshore workers to load and unload ships at night at the ports of Los Angeles and Long Beach as of Tuesday night, the organization said in a statement to the Business Journal.

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Breitburn Halves Distributions to Shareholders Amid Oil Price Collapse

Rocked by the oil price crash and its own plummeting stock price, Breitburn Energy Partners has sliced its distributions to shareholders by just over 50 percent.

Cambrian Buys Majority Stake in Dallas Plant

Downtown L.A.’s Cambrian Energy Development, a landfill gas-to-energy developer, has purchased a majority stake in a Dallas biomethane production facility for $40.6 million.

Ports of L.A., Long Beach May Drastically Cut Number of Overnight Workers

The number of longshore workers called to work overnight at the Ports of Los Angeles and Long Beach may be cut by two-thirds, the latest twist in the months-long contract negotiations between dockworkers and shipping lines at West Coast ports.

Serta Simmons to Close Compton Plant, Lay Off Workers

Mattress manufacturer Serta Simmons Holdings of Hoffman Estates, Ill. will close its Compton plant early next year and lay off 94 people, the company told the state’s Employment Development Department.

Groups Ask President Obama to End Port Dispute

Frustrated that the Pacific Maritime Association and the International Longshore and Warehouse Union are still negotiating a new labor contract for West Coast ports, 166 groups have called on President Barack Obama to immediately help resolve the contentious issue.

Port Volume Up in Long Beach, Down in L.A.

Last month was the Port of Long Beach’s busiest November since 2007, with cargo volume up 2.1 percent over a year ago.