Los Angeles Business Journal

LABJ WEEKLY EDITION

Lofty Goal

Developer looks to put new museum on displayDeveloper Tom Gilmore looks to reframe downtown’s Old Bank District with a multibuilding museum.

By Cale Ottens February 22, 2016 9:20 a.m.   Share

Collectors Now Look to Hang With Artists Online

INTERNET: Saatchi Art’s site offers virtual opening to promote, sell works.

Websites such as Saatchi Art offer artists a new way for their works to click with collectors.

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Downtown L.A.’s Prices, Spaces Pull in Galleries

LOCATION: Arts District proves popular home for places to showcase works.

Downtown L.A.’s Arts District shows it can hang with other cities as a home to galleries.

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Artistic Haven

MANUFACTURING: Gemini still hailed as producer of fine prints.

Gemini G.E.L. is marking 50 years of providing its services in exchange for a few signed prints.

Gallery Influx Could Squeeze Veteran Operators

EXHIBITION: Competitive new arrivals draw mixed reaction from old guard.

Influx of new galleries complicates the picture for longtime operators.

City Long Framed as Artist Enclave

REAL ESTATE: Inglewood’s low costs big draw for studios.

Inglewood fielded an artists’ enclave long before pro football came knocking for a stadium.

Market Vendors Fear Moving From 7th Street Produce Market

FOOD: Rents rise for produce wholesalers under new landlord.

Wholesalers fear being boxed out by 7th Street Produce Market’s rising rents.

Co-Living Firm Squeezes ’Em In

HOSPITALITY: PodShare hopes tight space stacks up as business.

PodShare has found room in the temporary residential market with its low-cost shared spaces.

Plane Cleaner Adds Services To Land Jobs

Gary Privitera’s firm high on opportunities beyond just detailing.

Gary’s Aircraft Detailing says business has taken off with the addition of new services.

Denim Execs Get Hang of Flying Yoga

James Jeans founders form D&A studio to give discipline a lift.

The future of D&A Flying Yoga studio is up in the air.

Development Hits Home For Attorney

Alfred Fraijo Jr. looks to court businesses for Boyle Heights project.

Attorney Alfred Fraijo Jr. hopes to make the case for his hometown Boyle Heights as a business center.

Plane Models Provide Lift for Plastic Surgeon

When plastic surgeon David Feldmar isn’t reconstructing people, he’s constructing model airplanes.

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

FOOD: Conference to field rooting interest in growing sales of natural products.

As natural food sales soar past $100 billion, stakeholders and investors in the booming industry are preparing to gather for the inaugural Food 2.0 conference June 7-9 at downtown L.A.’s Millennium Biltmore Hotel.

Backlog Can Make Court Costs Tough to Judge

LAW: Recession-spurred cutbacks resulted in system that can drag out litigation.

Verdict is in: Backlogged courts can drag out business disputes and drive up legal costs.

Trucker Classification Fight Proves Costly Battle

SHIPPING: Some firms file for bankruptcy amid drive for employee standing.

Legal battles over classifying truckers as employees put some firms on the road to bankruptcy.

El Segundo Seeks to Keep Lid on LAX Passengers

AVIATION: 78.9 million cap expired last year; proposal would allow 96.6 million.

City of El Segundo seeks to keep the allowed annual number of passengers at LAX from taking off.

Newspaper Owner Takes Itself Out of Circulation

MEDIA: Tribune Publishing spurns traditional protocol in rejecting Gannett’s bid.

Los Angeles Times’ parent Tribune Publishing may not be delivering for investors by rebuffing an acquisition offer.

State Bill Would Revamp Rules on Rehab Centers

HEALTH CARE: Operators fear cities could shut down facilities, block new ones.

Owners and operators of drug addiction treatment centers are up in arms over a bill in Sacramento that could give local officials more tools to shut them down or block new rehab facilities.

‘Regulation Crowdfunding’ Offers Money, Risks

INVESTMENT: New rules let firms tap unaccredited, lower-net-worth backers.

Companies looking to raise cash got another option last week.

Health Management Program Clicks With Buyer

Canary Health, a developer of patient health management software, has acquired mental health management online program bLife in an all-stock deal.

Vet Exec Helped Sow Fashion District’s Growth

NONPROFIT: Kent Smith to leave business district after 17 years at helm.

When Kent Smith became executive director of LA Fashion District 17 years ago, the business improvement district only spanned 18 blocks.

Startup Makes Off With Gangster Film in $50 million deal

The biggest deal at this month’s Cannes Film Festival was the $50 million winning bid from STX Entertainment for international distribution rights to Martin Scorsese’s new gangster film, “The Irishman.”

Investor Checks Out of Complex for Big Payday

SALE: Blackstone Group’s 50 percent stake in office property nets $500 million.

In the biggest Westside deal in recent months, Blackstone Group is selling its 50 percent stake in the Colorado Center office complex in Santa Monica for more than $500 million, or just over $900 a square foot.

Calendar

Calendar of events

Conventions

Upcoming conventions

Paper Chase

While the Times flounders, Hollywood trades have stayed viable.

Variety Recasts Print Publication in Heated Showbiz Battle

MEDIA: Variety recasts print publication in heated showbiz battle.

Variety raises the curtain on a print redesign in a running battle among showbiz trade publications to draw readers.