Los Angeles Business Journal


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

Megaproject Delivers UPS

REAL ESTATE: Hub site offered rare space in SoCal.

New Compton megawarehouse proves shipshape for UPS in $44 million lease deal.

Smoked Out?

Legal weed could test companies’ hiring policies

Legalized recreational weed could put employers’ drug policies to the test.

Explosion, Crash Shake Up Firms’ Race to Stars

INSURANCE: Rocket policies spread out risk.

A complex system of factors goes into landing coverage for rocket launches.

Explosion, Crash Shake Up Firms’ Race to Stars

AEROSPACE: Virgin banks on tiny satellites.

Virgin Galactic’s satellite program could be the warm-up to getting its space tourism business off the ground.

Exhibit to Draw On Animation

California Science Center will team up with Pixar to spotlight STEM concepts.

California Science Center enlists Pixar to frame STEM concepts as an exhibit.

Teslas Rev Up Driving Service

MotEV sees high-end cars as means to make inroads with eco-conscious crowd.

Driving firm MotEV has charged into the sector looking to tap positive buzz for Tesla’s electric vehicles.

Broker Goes to Work for Children

Cushman & Wakefield Managing Director Andrew Tashjian has been to Haiti, the Dominican Republic, Mexico, and Colombia. He wasn’t vacationing, but working with Salt Lake City nonprofit Operation Underground Railroad to rescue children from sex traffickers.

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

SPORTS: Lakers President Jeanie Buss gets in ring with women’s wrestling.

Jeanie Buss knows a thing or two about entertaining basketball fans downtown, but now the Los Angeles Lakers president is bringing a different sport to the area: professional wrestling.

Out of This World

International Space Station guest Dennis Tito is still high on the future of space travel

Finance exec Dennis Tito talks whether it was worth the $20 million to hitch a ride to the International Space Station.

Laser Focus Feeds Facial Clinic’s Expansion Plan

BEAUTY: Skin Laundry sees low-cost service as opportunity to clean up.

Skin Laundry has fleshed out a business strategy with a focus on low-cost laser facials.

Incentive Program Proves Costly in Bank Fraud

FINANCE: Fake accounts at Wells Fargo show risk of pushing performance.

Wells Fargo’s fraud fallout underlines how businesses may pay for incentive programs.

2016 Could Wrap With Healthy Holiday Season

RETAIL: Election results may throw chill on plans for spending, however.

Positive economic factors could add up to a strong holiday shopping season in Los Angeles.

Real Deal Eludes Parent As Paper Pursues Digital

MEDIA: Shares of tronc still up from Gannett bids while Times presses into future.

Los Angeles Times embarks on digital future as acquisition bid for parent tronc has yet to click.

Los Angeles May Have Virtual Edge on Content

TECHNOLOGY: Demand from VR firms could yield studio production boost.

The virtual reality industry is in experimental mode and facing challenges, but that might be to the advantage of L.A.-based companies, according to Don Karl, partner and lawyer at Perkins Coie’s Century City office.

Showbiz Panel Casts China as Emerging Player

FILM: Execs, academics frame growing market as salve for U.S. stagnation.

It seems the word on everyone’s lips in Hollywood is “China” – and for good reason.

Connected-Car Company Picked up by Map Maker in Real-Time Drive

Abalta Technologies Inc., which makes a platform to hook up people’s cars to their phones, has a new owner after receiving an investment of an undisclosed sum from Japan’s biggest digital map maker, Zenrin Co.


Calendar of events


Upcoming conventions

Hollywood Pickup Moves Into Record Territory

ACQUISITION: Multifamily sale price sets per-unit high mark for submarket.

New York Life Real Estate Investors picked up the Rubix Hollywood apartments this month for $109 million.

In a Golden State

Sure, taxes and regulations are a burden, but California remains a draw to entrepreneurs.

Keeping Energy Plan Grounded

Closing Aliso Canyon would only drive up already sky-high prices paid for natural gas in Los Angeles.

Closing the Aliso Canyon facility will only serve to drive up natural gas prices, warns Tracy Hernandez.

Measure Aims to Steer Path Through Congestion

James de la Loza sees Measure M easing traffic in Los Angeles.

Tease photo

Shops Still Game to Trade on Departed Brand Name

RETAIL: Owner of Fred Segal wants moniker gone on Melrose.

Owner of Fred Segal name says Melrose shopping district property needs to drop the moniker.

Tease photo

Fender Turns to Hollywood, Internet to Lift Sales

Fender turns to Hollywood, internet to lift sales

Guitar maker Fender looks to crank the volume on sales with a new outpost in Hollywood.

Signs of Battle On Billboards

ADVERTISING: Summit fears cutback cuts out smaller firms.

Summit Media sees a city of L.A. plan for more digital billboards as a bad sign for small firms.

Tease photo

SPECIAL REPORT: Crowdfunding Slow on Draw

New crowdfunding rules have yet to stir big numbers of unaccredited investors.