Los Angeles Business Journal

LABJ WEEKLY EDITION

Real estate quarterly:Selling Shopping

Downtown Los Angeles hopes to broaden its draw as area’s retail moves beyond bars and eateries to soft goods, including fashion.Downtown Los Angeles hopes to register as a shopping destination as projects take shape.

January 26, 2015 midnight   $$ Share

More Dark Clouds for Rainmaker

law: Now, creditors may get most of payout to Clippers dealmaker.

Pierce O’Donnell’s past legal trouble and bills could cost him almost all of his $2.3 million payday for handling the Clippers deal.

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Discretion Paid In Bank Deal

lending: City National touts reserve in pickup by RBC.

Discretion paid off for City National in its surprise acquisition by Royal Bank of Canada.

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Lego Strategy Taking Shape

ENTERTAINMENT: Toymaker follows Disney’s footsteps in film.

Movies could prove the missing piece that puts toymaker Lego on the same footing as Disney.

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LAX Hotels Aim To Land Events

LAX-area hotels hope business will take off with the addition of new event spaces.

Window Opens for Bank Tellers

Job training program puts participants on front line of finance.

Vocational program sees bank teller training as a solid investment for job seekers.

Travel Site Maps Out Plan For Apparel

Luxury Link teams up with Gilt to fashion clothes collaboration.

Travel website Luxury Link heads into the fashion business through a partnership with Gilt Groupe.

Denim Maker Forges Links To Greens

AG Jeans swings for golf wear market with new line for men.

AG Jeans joins golf club with its new sportswear line for the links.

Chilly Reception for Packers Fan

Donald Bizub is such an avid Green Bay Packers football fan that he purposefully seeks out advisory clients in cities where the Packers will be playing in a given season.

Regional Report

News and notes from communities across Los Angeles County

The historic Proud Bird restaurant at the Los Angeles International Airport, which had been rumored to be closing after failing to agree to a long-term lease with airport operator Los Angeles World Airports, isn’t taking off after all.

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Whole New Drill

ENERGY: Drop in oil prices has left some oil-related businesses in hole.

Steep drop in prices is not going well for oil-related businesses.

Businesses Shrug Off Break on Fuel Costs

Some companies dig the cut in gas costs but are unsure how much it will drive business.

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Protein Engineer Sees Software as Building Block

biotech: Protabit hopes for boost from licensees’ work with its program.

Protabit looks to sell its protein-design software in the hopes of pumping up its own research business.

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Production Executive Sees Starring Role for Diversity

ENTERTAINMENT: Charles King discusses opportunities in multicultural projects.

Show-biz vet Charles King sees a big role for multicultural projects at his Macro production firm.

Chinatown Lender Looks To East in Expansion Plan

BANKING: Cathay General shells out $126 million for New York’s Asia Bancshares.

Cathay General expands in east with its pickup of New York’s Asia Bancshares.

Downtown L.A.’s Draw Continues for Investors

REAL ESTATE: Rising’s deal for office park seen as first of two hefty pickups in area.

Acquisition of office park could be the first in a pair of pricey deals in downtown Los Angeles.

Businesses See New Notices as Hazardous to Health

CHEMICALS: Coalition says proposed changes to state rules will spur lawsuits.

State regulators have proposed new rules for posting toxic chemical warning notices in workplaces and other public places, stirring opposition from a coalition of chemical industry and business groups that contend the rules will spur a new round of frivolous lawsuits.

U.S. Supreme Court Passes on Labor Code Suits

Employment: Companies had sought clarification on class-action certification.

To the dismay of California employers and labor-and-employment attorneys, the U.S. Supreme Court last week refused to take a case that could have gutted a controversial state law that businesses often complain is widely abused.

News of the Week

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

A two-decade development feud in Malibu came to an abrupt close when developer Trancas PCH dropped its lawsuit against the city.

Parking Space Could Prove Tight Fit for Retailers

DEVELOPMENT: Building near mass transit could help with city’s requirements.

City requirements could put stores in a tough spot.

Vacancies Down Across Area as Market Rebounds

Main events in L.A.’s submarkets in the fourth quarter.

Several Large Lease Deals Help Point Submarket Toward Recovery

Some landmark deals defined the downtown L.A. office submarket last year as it began to swing to recovery.

Tenants Continue to Snap Up Office Space as Rental Rates Rise

The heat was still on in Hollywood’s office submarket last quarter.

Tight Beverly Hills, Santa Monica Bolster Adjacent Submarkets

The Westside closed out 2014 with the highest average asking rents in Los Angeles County.

Miracle Mile Records Only Large Lease Deals in Steady Quarter

The more things change, the more they stay the same.

Lease Activity Looking Up as Acquisition Properties Drying Up

Vacancies remained steady at 13.4 percent across the San Fernando Valley in the fourth quarter, just north of the 13.3 percent recorded the previous period and down from 14.8 percent last year.