Los Angeles Business Journal

Home-Sharing Disturbs Hotels

Hoteliers and unions team up over their reservations about home-sharing businesses.

Mayor Announces City Exceeding Targeted Pace for Housing Permits

Los Angeles Mayor Eric Garcetti on Thursday announced that the city has issued permits for 40,800 new housing units since he took office in July 2013, putting the city ahead of his target for 100,000 new units permitted by mid-2021.

Neighborhood Integrity Initiative Submits Signatures for Ballot Measure

Backers of an initiative to curb mega-developments in Los Angeles turned in nearly 104,000 signatures to the city clerk’s office Wednesday, 67 percent more than the 62,000 needed to place the measure on next March’s ballot.

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Pot Fundraiser Cancelled After LAPD Objects

The groups behind a scheduled fundraiser in Hollywood this past weekend for the medical marijuana industry cancelled the event after receiving word from the Los Angeles Police Department that the event was regarded as unlawful.

Setback in Cards With Rule Shift

The long-running battle between local card rooms and tribal gaming casinos has a new skirmish line: a change in an obscure state rule that could cost the local card rooms millions of dollars in revenue each year.

Los Angeles Unemployment Falls Despite Drop in Payrolls

L.A. County’s unemployment rate fell to 4.8 percent in July, its lowest level in nearly 10 years, despite a sharp seasonal drop in employer payrolls, state figures released Friday show.

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Air District Works to Iron Out Rule on Forging

METALS: Officials hope to reduce odor production in Paramount, other cities.

After years of complaints by residents about odors in Paramount and other southeast Los Angeles County cities, the South Coast Air Quality Management District identified the likely source as metal forging facilities and has begun developing a rule to clamp down on emissions from these plants.

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Big Payoffs No Longer Safe Bet for Casinos

GAMBLING: Setback in cards with rule shift.

Some card rooms think they are getting a raw deal with a new state stance on third-party banking.

Los Angeles Water and Power Department COO Appointed as Interim General Manager

Los Angeles Department of Water and Power chief operating officer David Wright was appointed the agency’s interim general manager Tuesday by the Board of Water and Power Commissioners. He replaces Marcie Edwards, who announced her resignation earlier this month.

Light Maker Takes Note Of Music Stands

LEDtronics, orchestra working in concert to develop bright idea.

Milwaukee Symphony Orchestra has taken a shine to LEDtronics’ lights for music stands.

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

POLITICS: Pot fundraiser’s organizers hope to turn up heat on L.A. city officials.

Call it a pot fundraiser – not to buy weed but to raise money to wield more clout at City Hall.

CIT Gives $100,000 to Latino Chamber of Commerce for Small Business Programs

CIT, parent of OneWest Bank of Irvine, announced Monday that it’s providing $100,000 to the Los Angeles Latino Chamber of Commerce for technical assistance to small businesses.

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

ENERGY: Breitburn brass could receive millions from bankruptcy judge.

Executives at Breitburn Energy Partners, an L.A. oil and gas exploration partnership that filed for bankruptcy in May, could receive tens of millions of dollars in bonuses under a proposal to be considered in U.S. Bankruptcy Court on Aug. 18.

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Business Groups Put ‘Job Killers’ in Cross Hairs

POLITICS: Legislation to extend cap-trade program among bills drawing fire.

Business groups are targeting roughly a dozen key bills still remaining in Sacramento during the closing weeks of the legislative session.

Strike Likely Averted as Grocery Workers Reach Deal

Union officials for local grocery workers announced Thursday afternoon that they had reached a tentative contract deal with Ralphs, Vons and Albertson’s supermarkets, likely averting a strike that could have begun next week. The deal is subject to a vote of rank-and-file union workers on Monday.

U.S. EPA Fines Two Local Operations for Hazardous Waste Storage Violations

The U.S. Environmental Protection Agency on Wednesday announced settlements with two Southern California facilities for improper handling of hazardous waste.

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Water Company Faces Double Trouble in Court

UTILITY: American States fights to retain subsidiary; pushes for rate increase.

Two looming legal decisions for its subsidiaries could sink business for American States Water.

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Business improvement district centered on Venice Boardwalk gains preliminary OK

Venice Boardwalk businesses’ bid for a business improvement district moves forward.

Downtown Booster Looks to Uproot Park Levy

TAXES: Group says switch to square-foot assessment will hurt property owners.

The Central City Association, a downtown business group, is opposing a parcel tax for parks that Los Angeles County supervisors are poised this week to place on the November ballot.

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Japan, China Pace Field of Foreign Firms in L.A.

COMMERCE: Swiss-owned companies rank third among employers.

Japanese- and U.K.-owned firms have carved out the biggest presences in Los Angeles.

City Planning Commission Approves Limits on Short-Term Rentals

The Los Angeles city Planning Commission on Thursday moved to regulate Airbnb and other short-term rentals, imposing time caps and stiff penalties for violations.

L.A. Officials Take Steps to Help Businesses in City

L.A. city officials on Wednesday took several steps to help small businesses and manufacturers.

L.A. Affordable Housing Initiative Placed on November Ballot

The Los Angeles City Council on Tuesday formally placed a labor-backed affordable housing measure on the November ballot.

City Attorney Files Charges Over Illegal Hotels

Los Angeles City Attorney Mike Feuer has filed charges against the owners of four properties for allegedly operating apartment buildings as short-term rentals or full-service hotels.

Some Business Groups On Board With Transit Tax

POLITICS: Infrastructure improvement generates support from L.A. trio.

Local business groups appear split on whether to support a permanent half-cent sales tax hike for transportation projects that the Los Angeles County Metropolitan Transportation Authority is looking to place on the November ballot.

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Desert Projects Sweat Election

POLITICS: Businesses want OKs before new presidency.

Companies behind two Mojave projects fear getting sandbagged by change in White House.

Foreign Investment Down in Los Angeles

While it may seem like foreign investors are gobbling up downtown Los Angeles properties and building lots of megaprojects, foreign direct investment in Los Angeles County has actually fallen in recent years.

13 Top Fortune 500 Companies in L.A. County

Fortune Magazine is out with its annual issue listing the nation’s 500 largest corporations by revenue – 13 of which call L.A. County home. That’s down one from last year as DirecTV, formerly of El Segundo, was merged into AT&T Corp., which has its headquarters in Dallas, TX.

L.A. Employers to Increase Hiring in Third Quarter

Los Angeles employers say they plan to step up hiring during the third quarter, according to a survey to be released Tuesday from Manpower Inc.

Trial to Start Monday in Claremont’s Attempt to Take Over Water System from Golden State Water

Trial is set to begin Monday in the city of Claremont’s attempt to take over a water system from Golden State Water, the private utility serving the city.

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Firms Feel Heat From Homeless

Skid Row business owners feel burned as fires and crime increase at growing homeless encampments.

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AllenCo Energy to Pay $1.25M Fine, Nears Approval to Restart Oil Field Operations

Signal Hill oil company AllenCo Energy has reached an agreement with Los Angeles City Attorney Mike Feuer to pay a $1.25 million fine to settle a lawsuit Feuer brought against the company, moving the company a step closer to reopening its oil field near USC, Feuer’s office announced Thursday.

Election Results Mixed in L.A. County

Tuesday’s elections in L.A. County delivered mixed results for business.

Some Nonprofits at Loss on How to Pay Hikes

GOVERNMENT: Bumps to minimum wage have firms mulling cutbacks, closures.

Some nonprofits face cuts to services to offset impending wage increases.

Supervisor Seats Up for Grabs on Election Day

POLITICS: Voters also to have say on water system sale, digital billboards.

While most attention for this week’s primary election is focused on the presidential and U.S. Senate races, there are also some closely watched local races and issues on the ballot.

Insurance Commissioner Urges Work Compensation Rate Cut

Good news for California employers: State Insurance Commissioner Dave Jones has recommended a 10.5 percent cut in the workers’ compensation premium rate that insurers charge employers.

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L.A. Developers Take Part in Giving to Public Art

GOVERNMENT: Some like to have say in how levy on their projects will be spent.

Some L.A. developers have embraced the city’s 1 percent levy to fund public art projects in the city.

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.

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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.

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