Air Lease Places Jets with Saudi Carrier
Air Lease Corp. has signed six-year lease agreements to provide three Airbus A320-200 aircraft to NAS Air, a fast-growing, low-cost Saudi Arabian airline.
Lucky, Juicy on the Block
New York fashion company Fifth & Pacific Cos. reportedly is hoping to sell two well-known boutique brands with Los Angeles roots: Lucky Brand and Juicy Couture.
Operations Suspended at Three L.A. Hospital Sites
Financially strapped Pacific Health Corp. on Wednesday suspended operations at Bellflower Medical Center and the Los Angeles and Hawthorne campuses of Los Angeles Metropolitan Medical Center.
Bidding War Erupts for Obagi
Obagi Medical Products Inc. said its initial suitor had increased its bid to more than $418 million, exceeding a rival bid announced yesterday.
Workers at Two LAX Hotels to Receive Service Tips
Two hotels near Los Angeles International Airport are expected this month to pay $4.5 million to settle two class-action lawsuits alleging that the hotels pocketed service charges instead of passing them on to room service, bell and banquet employees.
German Company Enters Bidding for Obagi
Merz Pharma Group on Tuesday announced a $383 million bid to acquire skincare maker Obagi Medical Products Inc. in Long Beach, topping a previous offer.
Stocks Rise
In Tuesday trading, the Dow Jones industrial average closed up 89 points to 14,622. The Nasdaq rose 16 points to 3,254. The S&P 500 rose 8 points to 1,570. The LABJ Stock Index rose nearly 2 points to 156.
Sky Tag Settles in Supergraphics Lawsuit
Los Angeles City Attorney Carmen Trutanich announced Friday that Michael McNeilly’s Sky Tag Inc. has agree to pay $1.2 million in civil penalties to settle a long-standing supergraphic billboard dispute with the city.
Avery Dennison, 3M Settle Antitrust Litigation
Avery Dennison Corp. on Friday announced settlement of patent and antitrust litigation with onetime suitor 3M Co., enabling Avery Dennison to continue selling its specialty reflective sheeting product used on traffic signs.
CBRE Refinances Debt
CBRE Group Inc. said it had refinanced its existing credit facilities and will pay off some senior notes, which it said would lower debt levels by nearly $500 million.
Lancaster to Require Solar Panels on New Homes
The Lancaster City Council has voted to make the city the first in the nation to require solar panels on all new homes in an effort to make the community more carbon neutral.
Wealth Manager Aspiriant Enters Funds Market
Aspiriant, a West L.A. independent wealth management firm that oversees $7 billion in client assets, announced the launch of its first mutual fund.
SpaceX Dragon Completes Space Station Mission
SpaceX’s Dragon capsule returned to Earth on Tuesday after a nearly month-long supply mission to the International Space Station.
Concord Music Group Sold to Private Equity Firm
Village Roadshow Entertainment Group said it had a deal to sell its eclectic Concord Music Group subsidiary to a Connecticut private equity firm for more than $115 million.
Smaller-Than-Expected Loss for KB Home
KB Home reported a narrower loss for its fiscal first quarter, as new home sales and prices improved amid the nationwide recovery of the housing market.
Guitar Center Names CEO
Guitar Center Inc. announced that Mike Pratt has been appointed chief executive and a member of the music retailer’s board, effective April 1.
Lubell Steps Down as True Religion's Chief
True Religion Apparel Inc. late Tuesday said Jeff Lubell has decided to step down as chief executive. The board appointed Lynne Koplin as interim CEO.
CBRE Expands in Eastern Europe
CBRE Group Inc. has acquired Impact-Corti, which provides property management services in the Czech Republic and Slovakia.
J2 Global Makes Another Buy
J2 Global Inc. continued its acquisition spree on Monday, announcing that it has acquired MetroFax Inc., a provider of Internet faxing services.
Analyst Upgrades Boost Obagi Shares
Shares of Obagi Medical Products Inc. rose 7 percent on Friday after two analyst upgrades followed the company’s fourth-quarter earnings.
The Week’s Biggest Movers
The Los Angeles Business Journal’s index of largest local public companies rose again for the week amid wider market gains.
Liberty Media CEO Named Live Nation Chairman
Live Nation Entertainment Inc. on Thursday said that its board has appointed Greg Maffei, chief executive of largest shareholder Liberty Media Corp., as its non-executive chairman.
Villaraigosa Won’t Wait for AEG
Reacting to Philip Anschutz’s decision to not sell AEG, L.A. Mayor Antonio Villaraigosa late Thursday said he wouldn’t wait on the sports and entertainment giant as a partner in modernizing the city’s Convention Center.
Better-Than-Expected Quarter for Hot Topic
Hot Topic Inc., which last week announced it would be taken private by a private equity firm, on Wednesday reported that its fiscal fourth-quarter profit jumped by more than one-third.
BioSolar Gets First Commercial Order
Shares of BioSolar Inc. jumped 39 percent on Wednesday after announcing the first commercial order for its innovative solar panel protective film.
Dole Moves to Loss
Dole Food Co. Inc. shares dropped in after-hours trading Tuesday after the fresh food company reported a worse-than-expected loss in the fourth quarter.
Reliance Steel Acquisition Hits Key Milestones
Reliance Steel & Aluminum Co.’s acquisition of Metals USA Holdings Corp. moved forward Monday, with Metals USA announcing that no competing bids had emerged and anti-trust regulators did not planning to block the $766 million deal.
New Hospital Turns Animal Care Into Pet Project
HEALTH CARE: West L.A. facility of VCA Antech offers high-tech treatment.
Aside from the dogs on leashes and cats in carriers in the upscale reception area, it’s hard to tell at first glance that the newest hospital on Sepulveda Boulevard is for four-legged patients.
Gores Group Acquires Canadian Outsourcing Business
Gores Group said that it will acquire three outsourcing services units from Toronto’s Davis + Henderson Corp.
The Week’s Biggest Movers
The Los Angeles Business Journal’s index of largest local public companies climbed for the week as the Dow ended a week of record-breaking gains.
BBCN Bancorp Chairman Named CEO
BBCN Bancorp on Thursday said that Chairman Kevin S. Kim has been named president and chief executive.
Disney Shareholders Reject Call to Split Executive Roles
Shareholders of Walt Disney Co. sided with management at the company’s annual meeting on Wednesday, nixing a proposal to separate the jobs of chief executive and chairman after Bob Iger retires in 2016.
AeroVironment Slides on Disappointing Quarter
AeroVironment Inc. shares fell 23 percent in after-hours trading on Tuesday after the company slashed its guidance and reported lower-than-expected fiscal third-quarter revenue and profit, largely due to reduced orders from its government clients.
Gores Buys Health Care Services Firm
The Gores Group said that it has acquired GE Healthcare Strategic Sourcing from GE Healthcare.
Report: Colony Finalist in AEG Bidding
Colony Capital LLC looks like the high bidder so far in the auction for Anschutz Entertainment Group, although sources say that no suitor so far has offered the minimum that the L.A. sports and entertainment giant’s owner had expected.
Icahn Gains Two Seats on Herbalife’s Board
Herbalife Ltd. has agreed to increase its board by two seats, to 11 members, and will fill those positions with people chosen by activist investor Carl Icahn, whose investment company now controls more than 13 percent of the company.
Rentech Cuts Staff, R&D Operations
Alternative energy developer Rentech Inc. will dramatically scale back its research and development operations, closing a demonstration facility in Colorado and laying off staff.
Amgen Loses U.S. Supreme Court Case on Class Actions
The U.S. Supreme Court on Wednesday ruled against Amgen Inc. in a case that could make it easier for shareholders to bring class-action lawsuits against companies in the future.
Smaller Quarterly Loss for Edison
Edison International reported a small fourth quarter loss as the Rosemead electrical utility decided to unload its struggling coal-fired power plant unit.
FDA Halts Pediatric Trials of Amgen Drug
The U.S. Food and Drug Administration has directed Amgen Inc. to stop pediatric studies of one of its drugs after 14-year-old patient died.
Tribune Hires Bankers to Shop L.A. Times
Los Angeles Times parent Tribune Co. has hired advisors at JPMorgan Chase and Evercore Partners to market its newspaper properties, according to a news report.
Murdock Becomes Dole CEO Again
David Murdock has taken back the chief executive’s job at Dole Food Co. Inc., as the fruit-and-vegetable producer prepares to complete the sale of its packaged foods and Asian fruit operation to a Japanese conglomerate.
FDA’s OK for Vision Device a Sight for Sore Eyes
BIONICS: Sylmar firm’s Argus II system generates images for blind people.
While the approval process for his insulin inhaler drags on, Alfred Mann this month received a welcome victory on another of his medical devices.
Reliance Reports Lower Sales, Higher Profit
Reliance Steel & Aluminum Co. said that its fourth quarter net income rose 18 percent as lower costs helped offset a decline in sales for the global metals processing company.
Jakks Reports Disappointing Quarter
Jakks Pacific Inc. reported a larger net loss for the key holiday-season fourth quarter, as sales fell and the Malibu toymaker took more than $92 million in charges.
Herbalife’s Quarter Beats Expectations
Herbalife Ltd late Tuesday reported a better-than-expected fourth-quarter, boosted by stronger sales in Asia Pacific and other younger markets for its weight-loss and nutritional supplement products.
Deja Vu Develops in Pursuit of Cancer Treatment
BIOTECH: Soon-Shiong reacquires research from buyer of his Abraxis firm.
Dr. Patrick Soon-Shiong has rolled out another health care company and announced two new high-tech care programs in the L.A. biotech billionaire’s ongoing effort to revolutionize disease treatment and health care delivery.
The Week’s Biggest Movers
The Los Angeles Business Journal’s index of largest local public companies gained for the week on positive corporate earnings and news that the U.S. trade deficit narrowed.
PennyMac Financial Files for IPO
PennyMac Financial Services, the residential mortgage loan provider led by former Countrywide Financial president Stanford Kurland, on Thursday said that it filed with U.S. regulators to raise more than $287 million in an initial public offering.
Strong Quarter for Activision Blizzard
Activision Blizzard Inc. reported fourth quarter earnings and revenue that exceeded Wall Street forecasts.
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