Los Angeles Business Journal

LABJ WEEKLY EDITION

Oil Field Losing Ground to Foes

energy: Urban site may close despite corrections by AllenCo.

Oil field operator fears unfounded fracking allegations could force it to shutter the urban site.

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Rights Enforcer Deputizes ISPs in File-Sharing Fight

Rightscorp enlists Internet service providers to pull the plug on users of illegal TV- and movie-sharing sites.

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Security System Maker Risks Taking on Big Guys

MANUFACTURING: Smaller player Astrophysics aims to expands sales by 50 percent.

Astrophysics battles bigger rivals to lock down a piece of the security screening market.

News Maker Looks to Tell Its Stories in Silicon Beach

MEDIA: New York’s RNN opens L.A. outpost to land new media customers.

New York news producer looks to channel content to new media businesses.

Little Left for Lender After Sale of Loans, Deposits

ACQUISITION: Future of Wedbush Bank in question amid Grandpoint deal.

Wedbush Bank, a savings and loan owned by securities brokerage Wedbush Inc., is selling its loans and deposits to Grandpoint Bank.

L.A. Newspaper Group Could Be Heading for Sale

PUBLISHING: Lang parent Digital First reportedly looking to cut costs.

Is the Los Angeles News Group about to go on the market as part of its parent company’s sale?

New Eatery Aims to Jazz Up South Los Angeles

DINING: Chef Richard Petty to serve up Southern cuisine at legendary music venue.

Chef Richard Petty plans to bring a Southern-style dining experience to a South L.A. site once known as a venue for jazz legends Duke Ellington, Count Basie and Ella Fitzgerald.

News of the Week

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

The U.S. Senate confirmed Maria Contreras-Sweet, co-founder of Los Angeles community bank ProAmerica Bank, to head the Small Business Administration.

Data Bank Calendar

Upcoming calendar of events

Data Bank Conventions

Upcoming local conventions

Twitter Wings Way to New Santa Monica Space

LEASE: Social media giant sheds temporary outpost, signs up for five years.

Another major Silicon Valley company is getting serious about Silicon Beach.

Drivers Deserve Break on Data

Ruben Guerra backs legislation that would let motorists steer the collection of and access to car data.

A Fracking Problem?

The city of Los Angeles is considering a proposal to ban fracking while the safety of the practice is researched.

Front and Center

L.A.’s downtown has everything in place to maintain its resurgence except, perhaps, parking.

Parking could be a central issue to reviving L.A.’s city center, writes Robert Cohen.

Los Angeles Has Work to Do on Job Creation

OP-ED

Los Angeles needs to get to work on job creation, according to Edward E. Leamer and Judy D. Olian.

Easing Workplace Ups, Downs

Stir’s self-adjusting desk raises, lowers for worker comfort.

Stir’s self-adjusting motorized desk aims to level out employee comfort.

Pet Project For Dog, Cat Foundation

Found Animals opens e-commerce site to help pay for adoptions.

Found Animals Foundation unleashes an e-commerce site to help cover cost of adoptions.

Fitting PR Firm To a Tea

Lucid hopes to help industry chill out with its own relaxing brew.

Lucid believes it has relaxation in the bag with its new tea.

Father, Son Mark 11th Diamond Anniversary

Ross Goldberg remembers what his father told him 11 years ago when he asked if he’d join him again on opening day at Dodger Stadium.

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Spillover Feared in Fracking Ban

ENERGY: Industry sees city of L.A. proposal closing other wells.

Oil companies fear a city of L.A. proposal to halt fracking would spill over to other drilling practices.

Century Plaza Partners Shuffle

REAL ESTATE: Hines to buy major stake in record valuation.

Co-owners of Century Park to shift their stakes in a deal that would yield a record valuation.

IRA Gold Rush Stirs Claim Jump

INVESTMENT: Firm alleges ex-contractor denting business.

Firm that sells gold to IRAs sues former contractors in a growing but still fringe industry.

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Hat in Ring

Former TV exec weighs into boxing promotion

Former TV syndication exec Michael King looks to ring up dollars and TV deals as a boxing promoter.

Regional Report

News and notes from communities across Los Angeles County

Cinedigm Corp., a Century City film and TV distributor, has closed an underwritten public offering of about 11.7 million shares of Class A common stock.

Homed In

lending: Hard-money lenders welcome pricey property projects as supply of low-end homes dwindles.

Hard-money financiers move into the high-price home market as the low-end housing pool dries up.

Drink Maker’s Annual Report Tough to Stomach

BEVERAGES: Shares of Reed’s fall on widened net loss, dip in working capital.

Drink maker Reed’s loses some of its fizz on Wall Street after a poor annual report.