Los Angeles Business Journal

LABJ WEEKLY EDITION

Clippers Deal Took Six Days of Sleepless Nights

LAW: Dealmaker gives play by play of fast-break NBA team sale.Attorney Bob Baradaran worked like mad for days to shepherd Shelly Sterling’s sale of the Clippers to Steve Ballmer.

By Matt Pressberg August 25, 2014 midnight   $$ Share
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Different Tune

Your Music gives crowdfunders slice of song profits

Your Music cues up a new model for crowdfunding artists offering a slice of profits for small investors.

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Internet Clicks With Low Rates

TAXES: Online business execs fear return of high levies in L.A.

Internet businesses say they rate getting to stay at a lower level of the gross receipts levy.

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Electric Vehicles’ Latest Breakdown

AUTOMOTIVE: Debt-dragging Enova hopes for reverse merger.

Current problems could mean the end of the road for electric drive-train maker Enova Systems.

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Cards Swipe Market From Big Stars

FINANCE: Card.com bases debit business around lesser brand names.

Card.com’s debit cards sporting lesser brands are flat-out beating rival offerings tied to bigger names.

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Treat Makers Sweet On New Space

Sugar lab lets trio of tenants get creative with confections.

B&K Sugar Arts Lab’s resident treat makers tout their chemistry at a shared space.

Grocer Gets In Bed With Breakfast

Fresh & Easy adds morning fare to draw more customers.

Fresh & Easy looks to wake up sales by offering breakfast items.

Text Exec Sends Message

Dez White, founder of free ephemeral messaging app Invisible Text, is excited to head to New York this month to kick off her work with the Clinton Global Initiative.

Regional Report

Moonshark, a Century City developer of mobile entertainment apps, has been acquired by Hitcents, a Bowling Green, Ky., mobile game studio.

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Cleaning Up

LAUNDRY: Wash Multifamily expands coin-operated business into Pacific Northwest, Alaska through pair of acquisitions.

Coin-operated machine business Wash cleans up by expanding into the Pacific Northwest and Alaska.

Drug Developer Turns Page With Published Trial

BIOTECH: Findings for cancer treatment send shares of Kite soaring.

Investors are high on Kite Pharma after the results of its drug trial are published in a medical journal.

Design Firm Sees Gas Stations as Creative Fuel

architecture: Built teams with nightlife maven to renovate 76 property.

Design firm and nightlife impresario look to pump up gas station’s sales with nautical makeover.

Plane Maker to Wing Way to New City, Incentives

AVIATION: Icon chooses Vacaville to consolidate HQ, manufacturing facility.

Light sport aircraft maker Icon takes off for Vacaville and the city’s business incentives.

Juice Maker Pursues Rivals Fresh Off of Court Victory

BEVERAGES: Ex-lawyer for Roll Global says lawsuits business as usual.

U.S. Supreme Court ruling spurs POM to put squeeze on rivals with lawsuits.

Formerly Foodie-Focused Vet Adds More to Plate

LAUNCH: Bryanne Lawless founds firm Blnd to work with lifestyle brands.

Sticking with restaurant clients was great, but public relations executive Bryanne Lawless wanted to mix things up a bit more.

News of the Week

Last week’s major news from labusinessjournal.com and other sources

Gov. Jerry Brown has signed off on a deal that would more than triple the funding for California’s film and TV tax-credit program.

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Upcoming calendar of events.

conventions

Upcoming local conventions

Museum Tenant May Leave Oil HQ High, Dry

LISTING: Oxy deal to sell to Hammer in 2021 likely to scare off investors.

Six months after announcing a move to Houston, oil company Occidental Petroleum Corp. has put its Westwood headquarters building on the market.

High on Mountain Conservation

Gordon Seabury would like to hike up efforts to protect the San Gabriel Mountains.

Net Gain?

Former Microsoft Chief Executive Steve Ballmer acquired the Los Angeles Clippers for $2 billion in what turned out to be a quick bidding process. So the Business Journal asks:

What do you think of Ballmer’s $2 billion purchase price for the Clippers?

Contrary to Popular Thought

Shifting away from 9-to-5 workdays could put Los Angeles on road to easing commuter congestion.

Ted Lux would like to see more businesses hit the brakes on a 9-to-5 workday and give Los Angeles a break on traffic.

Immigration Efforts Should Include Education

Linda Smith homes in on educational efforts as a means to create countries that residents won’t flee.

Who’s Who in Real Estate: Rising Tide

Local executives steer wave of Chinese money into L.A. properties.

Business Journal spotlights nine executives who are helping Chinese investors find a home for their money in L.A. properties.

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Mainland Buyers Shore Up Business

Eddy Chao has been advising Chinese real estate investors for more than 30 years.

Apparel Vet Finds Fit in Real Estate

Not long ago, Frank Yuan could be found operating a Las Vegas trade show for apparel manufacturers.

’92 Crisis Offered Opening in Market

While Chinese investment firms have flooded the L.A. real estate market in recent years, Kin Hui, chief executive of Singpoli Capital Corp., seized the opportunity more than two decades ago.