Los Angeles Business Journal

Stocks Up; Mattel Rises, Cadiz Sinks

The Dow Jones industrial average rose 304 points in Monday trading to close at 16,776. The S&P 500 rose 36 points to 1,987. The Nasdaq rose 73 points to 4,781. The LABJ Stock Index rose three points to 223.

Event With Pope Beyond Belief

PR vet David Herbst scored seat to see Francis speak to joint session of Congress.

PR exec David Herbst partook of Pope Francis’ mass appeal during the pontiff’s visit to Congress.

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Wages Raise Concern of Business

GOVERNMENT: Some groups move to head off hikes in cities.

Business groups in some L.A. cities are paying extra attention to heading off wage-hike issue.

Thursday Rundown: Long Beach Pipeline Company Acquires NorCal Pipeline from Chevron, Music Instructor Snags Nationwide Licensing Deal

Long Beach’s Crimson Pipeline has reached agreement to acquire Chevron Pipeline Co.’s 295-mile KLM Pipeline in Northern California, along with related assets, the companies announced Thursday.

Exxon Mobil Strikes Deal for Torrance Refinery

Exxon Mobil Corp. on Tuesday announced it has agreed to sell its damaged Torrance oil refinery, a pair of Vernon refinery product centers and other related California assets for a reported $537 million.

City of L.A. Committee to Work on Job Creation

GOVERNMENT: Business groups welcome new panel but see familiar hurdles.

Even though local business groups are still smarting from their failure to stop city of L.A. leaders from raising the minimum wage to $15 an hour over the next few years, they are cheering a recent development: the creation of a City Council committee focused on job creation.

County Unemployment Rate Dips Below 7 Percent

L.A. County’s unemployment rate fell below 7 percent last month for the first time in more than seven years, according to state figures released Friday.

Refinery Blast Costs Californians $3 Billion ... So Far

GAS: Prices at pump stay up as ExxonMobil plant stays down.

ExxonMobil’s restricted refinery has only fueled local pain at the pumps from California’s towering prices.

Landlords Fear Zap From Energy-Efficiency Rules

REAL ESTATE: Groups say proposed plan opens door to steep building costs.

A bill that would mandate doubling the energy efficiency of all buildings in the state over the next 15 years might have been overshadowed by a more controversial provision to halve gasoline consumption that was stripped from the bill last week, but it’s ambitious nonetheless.

Survey: L.A. Employers Cautious About Fourth-Quarter Hiring

Local employers say they plan to slow down their hiring and will likely lay off more people in the fourth quarter than earlier in the year. And they are also more cautious about hiring plans than their counterparts nationwide, according to a survey to be released Tuesday by Manpower Inc.

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Glass Forges Newest Billionaire

MANUFACTURING: Donald Friese reaps $1.3 billion from deal.

Glass products maker cracks billionaire’s club with sale of his company, CR Laurence.

Hollywood Boulevard Joker Jailed

It’s no laughing matter: The Joker has been put out of business.

Mine Unearthed as Power Facility

ENERGY: Eagle Crest looks to tap site for use in wind, solar storage.

Eagle Crest digs the idea of using abandoned mine for power storage system.

Ridesharing Vote Puts Taxi Drivers on Hot Seat

TRANSPORTATION: City of L.A. opens LAX to Uber, peers; OKs complaint line.

When the Los Angeles City Council gave the green light for Uber, Lyft and other ridesharing services to pick up passengers at Los Angeles International Airport last week, there was talk about streamlining regulations for taxicab drivers so they could compete on a more equal footing.

L.A. Council Clears Way for Uber, Lyft at LAX

The day is nearly at hand when passengers arriving at LAX will be able to hail a ride with their smartphones.

Subsidies Dry Up For Turf Remover

Grass is no longer green for lawn remover Turf Terminators as water agencies’ subsidies evaporate.

Service Raises ‘Mannies’ Profile

Teacher Michael Lin’s new business aims for parents who want male nannies.

Michael Lin doesn’t hesitate to bring up “mannies” when it comes to helping raise people’s kids.

Housing Report Opens Door for Homebuilders

CONSTRUCTION: Rise in starts drives up shares of KB Home, Ryland Group.

Shares of homebuilders KB Home and Ryland Group climb as investors welcome rise in housing starts.

Santa Monica Solar Developer to Build Major Plant in Chile

SolarReserve, a Santa Monica developer of large-scale solar projects has received environmental approval for a 260 megawatt plant in Chile.

County Unemployment Rate Falls

L.A. County’s unemployment rate fell sharply in July to 7.1 percent from 7.5 percent in June, despite massive seasonal layoffs in education, state figures released Friday show.

L.A. OKs Tougher Penalties for Cig Sellers

Sell tobacco to a kid in Los Angeles and you’ll soon get a month-long time out.

Council Committee Upholds Airport Decision to Allow Uber, Lyft to Pick Up LAX Passengers

After a marathon packed hearing, a Los Angeles City Council committee late on Tuesday voted to uphold an airport commission decision to allow rideshare services such as Uber and Lyft to pick up passengers from Los Angeles International Airport.

ArchitectureEmployees Go Distance

HansonLA staff sizes up styles on walk from downtown to beach.

HansonLA has new staff walk from downtown to the beach to gain street smarts on L.A. styles.

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Clothing Maker Out of Fashion On Wall Street

MANUFACTURING: Shares of American Apparel slide with bad credit, sales news.

American Apparel shares tumble as mounting credit and sales woes point toward a bankruptcy filing.

After Grisly Death, Tuna Canner Agrees to Record Settlement

Bumble Bee Foods will pay a record $6 million to settle a criminal prosecution over the 2012 death of an employee who became trapped in an industrial oven at the company’s Santa Fe Springs facility, the Los Angeles County District Attorney’s office announced Wednesday.

Edison Downgraded Amid San Onofre Fallout

A major investment bank downgraded shares of Edison International Tuesday amid concern that shareholders could be on the hook for more costs related to the Rosemead electric utility’s 2013 closure of the San Onofre nuclear power plant.

Long Beach Chamber Wants Say in Pay-Raise Push

GOVERNMENT: Helping small businesses cope with increase among concerns.

Recognizing that Long Beach elected officials will likely enact an increase in the minimum wage in coming months, the Long Beach Area Chamber of Commerce is hoping to negotiate a deal that would make a raise more palatable to businesses in the city rather than opposing a wage hike outright.

Petroleum Plan Fuels Pushback

ENERGY: Oil, trucking firms rip state proposal to reduce use.

Oil and transportation companies hope to drive off a state measure to cut vehicles’ petroleum use by 50 percent.

County Unemployment Falls Amid Slight Jobs Gain

L.A. County’s unemployment rate fell in June to 7.4 percent from 7.6 percent in May following a modest gain in employer payrolls, state figures released Friday show.

City Sends Up Smoke Signals on Tougher Rules

TOBACCO: L.A. mulls new penalties for cig sales to minors, in-shop smoking

Local tobacco retailers and smoke lounges are warily eyeing the rollout by Los Angeles City Attorney Mike Feuer of tougher enforcement standards aimed at preventing sales of tobacco products to minors and protecting workers from secondhand smoke.

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Stores Look to Take Back Streets

REGULATION: Owners hope to limit legalization of rival vendors.

Brick-and-mortar shops hope to curb a push in the city of Los Angeles to legalize street vending.

24 Years Later, Collapsed Insurer Case Settled

The final chapter appears to have closed in the quarter-century battle resulting from the collapse of Los Angeles insurance company Executive Life and an ensuing legal scuffle that stretched from Sacramento to Paris.

Beverly Hills Chamber Head Leaves for WeHo Post

Alexander Stettinski, executive director of the Beverly Hills Chamber of Commerce, announced his resignation on Tuesday to to become vice president of operations and strategic planning with the neighboring Visit West Hollywood.

Healthy Boosts From Chinese Connections

For Bob Parker, life has taken some dramatic turns recently.

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Landlords See No Room for Rent-Control Changes

REAL ESTATE: City of L.A. proposals could kill creation of more units.

City of L.A. officials weigh rent-control rules that could open door to more burdens for landlords.

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Business Burdens Head Up; Firms, Jobs Head Out

COMMERCE: Survey rates most L.A. cities as high cost.

Rising costs push more than half of L.A. cities into business-unfriendly territory, survey reports.

County Unemployment Holds Steady Amid Modest Job Gains

L.A. County’s unemployment rate was unchanged in May at 7.6 percent amid modest job gains that left the county just short of its all-time payroll jobs peak, state figures released Friday show.

Twenty In Their 20s: Abhi Eswarappa

From the creator of a social media platform to the founder of a bikini company, the Business Journal turns the spotlight on 20 young entrepreneurs who have gotten a jump on the business world.

Music Class Has It Made With Shades

Instructor says color code helps notes stick better with students.

Conservatory of Performing Arts helps students scale musical notes with a color-coded system.

County Unemployment Holds Steady Amid Modest Job Gains

L.A. County’s unemployment rate was unchanged in April at 7.6 percent amid modest job gains that left the county just short of its all-time payroll jobs peak, state figures released Friday show.

Looming Wage Hike Tamps Down Business Confidence

L.A. area businesses are optimistic about business conditions this year and plan to sharply ramp up capital spending, according to a survey to be released today from the Los Angeles County Business Federation, or BizFed.

Business Groups Hope to Work With City Hall Vet

POLITICS: Carolyn Ramsay piles up endorsments in race for seat on City Council.

Business groups are overwhelmingly supporting City Hall veteran Carolyn Ramsay in this week’s election to replace Tom LaBonge on the Los Angeles City Council.

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Hacked Off

LAX-dependent cabbies hem in area businesses

LAX-area businesses say cabbies waiting for airport pickups are driving off customers.

Council Separates Paid Time Off from Minimum Wage Hike Plan

Responding to an outcry from local business groups and from Los Angeles Mayor Eric Garcetti, City Council leaders late on Friday agreed to separate a controversial paid time off mandate from the minimum wage hike it plans to consider next week.

Paid Time Off Part of Minimum Wage Proposal?

The minimum wage hike proposal approved by an L.A. City Council committee this week might require employers to pay minimum wage workers for time off.

Paramount Firm Pays $142,000 Penalty for Waste Violations

Anaplex Corp. of Paramount has agreed to pay $142,000 to settle allegations that the plating company had violated hazardous waste rules, the U.S. Environmental Protection Agency announced late Thursday.

Wage Hike Moves Forward, Gives Businesses More Time

A Los Angeles City Council Committee on Wednesday voted to hike the citywide minimum wage to $15 an hour, but also to give more time for businesses to comply.

Carsharing Coming to a Parking Meter Near You?

Carsharing could soon become much more common in Los Angeles – as common as parking meters, in fact.

Ex-Chief Exec Looks to Steer Retailer Into Sale

INTERNET: Mehran Nia says U.S. Auto Parts too small to be publicly held.

Co-founder and ex-CEO of U.S. Auto Parts looks to drive the online retailer into a sale.

Area Advocate Discusses 25 Years in Downtown

NONPROFIT: Carol Schatz praises housing, restaurants; homelessness still concern.

Carol Schatz talks downtown L.A.’s revival during her 25 years at Central City Association.


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