Los Angeles Business Journal

Mayor Eric Garcetti Appoints Two Deputy Mayors to Oversee Economic Agenda

Los Angeles Mayor Eric Garcetti on Friday appointed two deputy mayors to oversee his economic agenda, replacing Deputy Mayor Kelli Bernard, who left earlier this month to take an executive position at Aecom.

Edison CEO Craver to Retire; Pizarro to Take Reins

Edison International announced on Wednesday that Theodore F. Craver Jr., the Rosemead energy company’s chairman and chief executive will retire in September, keeping with the company’s practice of its chief executive retiring upon reaching age 65.

California State Chamber Opposes Ballot Measure to Extend Income Tax Hike

The California Chamber of Commerce announced Monday that it is opposing a likely November ballot measure to extend the income tax increase of Proposition 30 until 2031.

State Bill Would Revamp Rules on Rehab Centers

HEALTH CARE: Operators fear cities could shut down facilities, block new ones.

Owners and operators of drug addiction treatment centers are up in arms over a bill in Sacramento that could give local officials more tools to shut them down or block new rehab facilities.

Breitburn Gets OK to Tap Bankruptcy Loan

L.A. oil firm Breitburn Energy Partners has received court approval to draw on $75 million in financing to sustain itself during bankruptcy proceedings.

County Unemployment Rate Lowest in Nine Years

L.A. County’s unemployment rate continued its rapid descent in April, falling to its lowest point in nine years.

Wealthiest Angelenos: Donations Down in Weird Year

Some of L.A.’s Wealthiest Angelenos have elected to hold their fiscal backing in an usually contentious campaign season.

Hotel’s Dining Permit Drama Tough To Swallow

DINING: L’Ermitage owners forced to digest stalled restaurant opening.

Dealing with a city bureaucracy is rarely easy for any business, but the ordeal of the owners of the Viceroy L’Ermitage Hotel in Beverly Hills in recent weeks really stands out.

LAFC Soccer Stadium Approved

The Los Angeles City Council on Friday gave final approval for construction of a $250 million stadium complex near USC for the Los Angeles Football Club soccer team.

Local Businesses Reluctant to Hire More Workers Despite Overall Optimism

L.A. County employers are optimistic about their business outlook this year but guarded about future hiring, according to a new Los Angeles County Business Federation survey released Tuesday.

PermaCity Planning Major Solar Rooftop Project

Los Angeles solar rooftop developer PermaCity announced Friday it would build the region’s largest project that will sell power to the city’s grid.

Janitors to Hold Rallies Across State as Contract Deadline Looms

Days before contracts between union workers and commercial building janitorial contractors are set to expire, union leaders have been ramping up the pressure in advance of last-minute negotiations.

Ares Closes $7.85 Billion Private Equity Fund

Century City private equity and debt giant Ares Management announced Monday it had raised $7.85 billion for its fifth global flexible capital private equity fund, Ares Corporate Opportunities Fund V.

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

ENERGY: Breitburn could lose even more ground with readjusted borrowing base.

Mayday! Mayday? May 1 looms large for executives at troubled L.A. oil firm Breitburn Energy Partners.

AIDS Nonprofit Nursing Development Initiative

POLITICS: Ads running for measure despite refocus on next March’s ballot.

Los Angeles Times subscribers might have noticed little sticky Post-It-size ads on their papers the past couple of weeks, with provocative messages: One had Los Angeles City Hall with a “for sale” sign stamped over it; another with the line “Developer Greed is Choking LA.”

L.A. Residents Less Optimistic About Economy

L.A. residents are less optimistic about the Los Angeles economy this year than last year as the county’s job growth rate is expected to slow for the remainder of this year and next, according to a survey and forecast to be released this morning.

L.A. Council Passes Paid Sick Leave Policy

The Los Angeles City Council on Tuesday voted overwhelmingly to proceed with crafting an ordinance requiring all employers in the city to provide six days of paid sick leave a year to their workers, three days more than mandated under state law.

Some Workers May Clock Back In

LABOR: Wage hikes will raise threshhold for salaried staffers.

Wage hikes will also cost some employers by raising the exemption threshold for salaried staff.

L.A. Unemployment Rate Drops Again

L.A. County’s unemployment rate continued its rapid descent in March, falling to 5.4 percent, closing most of the unemployment gap with the rest of the nation.

Breitburn Shares Plunge After Skipped Interest Payment

Just as investors in Los Angeles oil partnership Breitburn Energy Partners were hoping the worst was over as oil prices have rallied, the other shoe dropped on Thursday – make that two shoes.

Expanded Paid Sick Leave Mandate Moving Forward in L.A.

The city of Los Angeles is a step closer to requiring all employers to provide six days of paid sick leave to their workers, three days more than mandated under state law.

Pivot to Profit

ENERGY: Edison hopes for spark from launch of advisory, water management divisions.

Edison International looks to power up its revenue by forming advisory and water usage divisions.

‘Jedis’ May Prove Positive Force for City of L.A.

DEVELOPMENT: Council looking at plan to create business incentive zones.

Will the force be strong for business in Los Angeles?

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‘Gig’ Workers May Organize

Business groups come together against a state measure allowing contract workers to form unionlike groups.

Governor Signs Landmark Legislation to Raise California's Minimum Wage

Gov. Jerry Brown joined supporters from across the state today in Los Angeles to sign landmark legislation that makes California the first state in the nation to commit to raising the minimum wage to $15 an hour by 2023.

Former L.A. Councilman Bill Rosendahl Dies After Battle with Cancer

Bill Rosendahl, the gregarious and outspoken former Los Angeles City Councilman, died Wednesday morning after a four-year battle with cancer. He was 70.

State Chamber: Fewer Job-Killer Bills This Year – So Far

The California Chamber of Commerce released its annual list of “job killer” bills on Tuesday – and the tally of 18 so far is fewer than in recent years.

Governor Backs Proposal to Hike Minimum Wage to $15

Gov. Jerry Brown and state legislative leaders on Monday backed a proposal to hike the statewide minimum wage to $15 an hour by 2023.

Business Groups Get Bad Feeling Over Sick Days

COMPENSATION: City of L.A. mulls more paid leave as part of July wage increase.

Think L.A.’s minimum-wage hike that kicks in July 1 is all set? Think again.

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County Unemployment Falls to Eight-Year Low

EMPLOYMENT: L.A. added 45,000 jobs in February, led by health services sector.

Los Angeles County’s unemployment rate hits lowest point in eight years as health services pace job creation.

West Hollywood Approves Smaller Minimum Wage Hike

Employers in West Hollywood won a major victory early Tuesday morning as a majority of the City Council backed a smaller hike in the minimum wage to $12 an hour, rather than the $15 an hour backed by staff and enacted in the city and county of Los Angeles.

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Poll Positions For Proposals?

REAL ESTATE: Projects may need Santa Monica voters’ OK.

Developers fear a proposed Santa Monica initiative that would let voters size up large projects.

L.A. Unemployment Falls to 5.6 Percent Amidst Robust Job Gains

L.A. County’s unemployment rate fell to 5.6 in February, the lowest it’s been in more than eight years.

Air Pollution Reduction Program Ruled Illegal

A controversial program to give local refineries and major manufacturers more flexibility in reducing air pollution has been ruled illegal by the U.S. Environmental Protection Agency, officials disclosed late Wednesday. The federal agency said the program fails to meet national clean air standards.

L.A. CFOs Expect Increased Hiring Over Next Six Months

Chief financial officers at Los Angeles firms expect to step up their hiring over the next six months, compared to the six months just ending, according to a survey from Robert Half International.

Anti-Development Initiative Postponed

Backers of an anti-development initiative in Los Angeles on Tuesday announced they have dropped plans to place the measure on the November ballot and instead will attempt to qualify it for the March 2017 city ballot.

L.A. Mayor Buys Into Property Transaction Levy

POLITICS: Unlike squashed state plan, city would limit tax to commercial buildings.

Remember that proposal a few years back by L.A. city officials to double the transaction tax on property sales?

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All Fired Up

New California law has pot shops jockeying to roll up required city of L.A. license.

City of L.A. pot shop operators fear a new state licensing law could nip their business in the buds.

L.A. Selected as Host for 2018 National City Summit

Los Angeles has been selected as the 2018 host city for the National League of Cities’ annual city summit.

State Court Upholds L.A. Billboard Ban

A state appellate court has upheld Los Angeles’ billboard ban, reversing a lower court decision in favor of Lamar Central Outdoor, which was seeking to overturn the ban.

Survey: L.A. Employers to Increase Hiring a Little

L.A. employers say they plan to step up hiring during the second quarter, according to a survey released Tuesday morning from Manpower Inc.

Utility Exec Says Customers May Rate Bill Cuts

ENERGY: Ted Craver talks keeping costs in check as Edison upgrades system.

Edison International CEO Ted Craver has power points to make on the costs of running utilities.

L.A. Unemployment Falls Despite Huge Drop in Jobs

While L.A.’s jobless rate dipped to 5.8 percent in January, employers in the county shed almost 88,000 jobs from their payrolls, marking an especially dismal start to the year, according to state figures released Friday.

Local Economist Shake-Up

Robert Kleinhenz, the well-known chief economist at the Los Angeles County Economic Development Corp., is moving on to Beacon Economics. He’ll be replaced by Christine Cooper, who was promoted from within.

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Long Beach Aims to Sell Voters on Sales Tax Hike

POLITICS: Business groups yet to take sides on increase that will phase out in 2026.

Long Beach businesses are in a tough spot.

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Business Booster

NONPROFIT: Thomas Sayles to focus on job creation as new L.A. chamber chair.

New L.A. chamber chair Thomas Sayles is ready to get to work on job creation as his main focus.

Aquifer Operator Rides Brief Wave of Enthusiasm

WATER: Cadiz’s stock rises, then falls despite good news on firm’s pipeline proposal.

Shares of Cadiz made a brief splash on Wall Street after news the aquifer operator may salvage its pipeline plan.

Hospital Hack Bill May Grow

HEALTH CARE: Future costs unknown for facility, patients.

Hospital may end up paying more than just hacker’s ransom after cyberattack.

Forecast: L.A. Job Growth Slowing Down

The local economy will see slower job growth this year and next as it reaches cruising altitude, the Los Angeles County Economic Development Corp. says in a forecast to be released this morning.

Hole Deepens for Oil Companies as Prices Plunge

ENERGY: Breitburn, CRC dragged down further by firms’ heavy debt loads.

Local firms lose even more ground with investors as stock and oil prices continue to plunge.

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