Los Angeles Business Journal

Edison CEO Says Nuclear Option Still on the Table

Even after the fiasco that led to the permanent shutdown of his company’s San Onofre nuclear power plant, Edison International Chief Executive Theodore Craver is willing to go nuclear again.

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Parking Company Wants Break on City Bidding

GOVERNMENT: Operator facing loss of L.A. facilities seeks do-over on process.

Parking contractor has lots to lose as city plans to bring in different facility management.

Sporting Goods Chain’s Shares Take Bad Bounce

RETAIL: Big 5’s otherwise strong quarter fails to match expectations.

Investors fear sporting goods chain Big 5 may have dropped the ball in the second quarter despite healthy profits.

L.A. Sports Industry Generated $4 Billion in 2012

L.A. area sporting events pumped more than $4 billion into the local economy last year, according to a study released Thursday.

Occidental Core Earnings Fall

Occidental Petroleum Corp. reported a second quarter profit that was unchanged from a year earlier, as increased oil production in California and Texas was offset by lower global oil prices.

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Coast firms try to head off galloping regulators

Coastal property owners and business groups battle bill that would let state commission levy fines without a court’s OK.

The Fight to Keep Coastal Commission Fines Under Judicial Review

Hundreds of property owners in California’s coastal zone have joined with business groups and trade associations to defeat a bill that would allow the state’s Coastal Commission to impose and collect fines without the court approval now required.

Council OKs Giant Towers Next to Capitol Records

Paving the way for a major change to the city’s skyline, the Los Angeles City Council on Wednesday approved the controversial development of two skyscrapers that will tower over Hollywood’s famed Capitol Records building.

Downtown L.A.: Hotel-Office Development to Add Even More Space to Submarket


Main events in Los Angeles County’s submarkets.

County Jobless Rate Rises to 9.7 Percent

L.A. County’s jobs recovery stalled in June as the unemployment rate edged up to 9.7 percent and payroll employment levels remained unchanged, according to state figures released Thursday afternoon.

Forecast: Slow, Steady Economic Growth for L.A.

L.A. County’s economy will continue its broad but frustratingly slow improvement during the rest of this year and into next year, according to a regional forecast to be released Wednesday.

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Deli Chain Cuts Fat, Turns to Groceries to Beef Up Sales

DINING: Slimmer Jerry’s looks to add on-site market to its plate.

Jerry’s Deli hopes to add a side of groceries to its restaurant business with an on-site market.

Governor Signs Laws Replacing Enterprise Zones With Tax Breaks

Gov. Jerry Brown on Thursday signed legislation sharply restricting enterprise zone tax credits and replacing them with a sales tax exemption on the purchase of manufacturing equipment.

State Companies Win in Workers Comp Insurance Disputes

California companies have won a legal victory as the state regulators forced a national workers’ compensation insurer to stop forcing employers to resolve insurance disputes out of state.

Oil Company Digs Oklahoma

ENERGY: BreitBurn steps into state with $860 million deal.

BreitBurn moves into Oklahoma sooner, not later, with an $860 million deal for oil and gas fields.

Coast Not So Clear for Local Investment Trust

REAL ESTATE: Seattle portfolio purchase fails to stir Hudson Pacific shares.

Hudson Pacific Properties’ first portfolio pickup outside California fails to stir stock.

Garcetti Names Perry Interim GM of Economic Development

Jan Perry, who ran unsuccessfully for mayor in the March primary, will run the newly created department, which will focus on small business support, workforce development and job creation.

Wagering on Poker’s Draw

Irwindale chamber and eateries serve up chips in foodie promotion.

Irwindale Chamber of Commerce believes its poker tournament promotion will raise interest in local eateries.

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Overseas Presence Built Up by Irani May Soon Vanish

Occidental sees selling or spinning off international assets as the first step to power up its stock.

Transit Agency Drops Plan for Congestion Fee

The Los Angeles County Metropolitan Transportation Authority on Thursday killed a controversial plan to impose massive fees on developers to pay for transit projects.

UC President OKs UCLA Anderson Self-Sufficiency Plan

The UCLA Anderson School of Management has received final approval from University of California President Mark Yudof to convert its state-supported M.B.A. program into a self-supporting one, the school announced Thursday.

Firm Hit by Sequester, Canada Stimulus Scandal

ENGINEERING: Tetra Tech shares plummet amid government contract woes.

U.S. sequestration woes and a Canadian scandal make double trouble for Tetra Tech.

County Unemployment Rate Falls to 9.6 Percent

L.A. County’s unemployment rate fell again in May, reaching 9.6 percent, according to state figures released Friday.

Los Angeles City Council Approves Plastic Bag Ban

The Los Angeles City Council on Tuesday approved a ban on plastic bags at grocery stores and other retailers that sell perishable food items.

AEG in Joint Venture to Build Las Vegas Arena

Anschutz Entertainment Group has signed a joint venture with MGM Resorts International to develop a $350 million, 20,000-seat arena near the Las Vegas Strip, MGM announced Tuesday.

Shipping Group Fears Long Beach Left High, Dry

TRADE: Commissioners deny departures were caused by meddling.

Shipping association alleges meddling port commissioners are behind a wave of administrative departures in Long Beach.

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Clang Clang Clank

Backers split over type of trolley for Miracle Mile rail line

Miracle Mile business interests in conflict over what kind of trolley to use as they prepare to punch the ticket for a new line.

Survey Says Businesses Don’t Love L.A.

Business owners and executives in Los Angeles County are less optimistic about the local economy this year than last year, according to a survey from the Los Angeles County Business Federation.

Water Company to Dip Toe Into Splitting Stock

UTILITY: American States may be first L.A. firm to try move since 2008.

Market run-up spurs American States Water to wade back into splitting stock.

Doctors Fear Unhealthy Malpractice Insurance

HEALTH CARE: Lawyers push to lift ‘pain and suffering’ award cap.

Medical groups hope to pull plug on lawyers’ plan to lift limit on “pain and suffering” malpractice awards.

Bill Curbing Prop. 65 Lawsuit Threats Clears Assembly

The Assembly on Friday passed a bill aimed at blocking shakedown letters to businesses alleging violations of the state’s toxic chemical notification law.

Maker of Frozen Cuisine Hot Item for Acquisition

FOOD: Overhill Farms bought for $81 million by Minnesota’s Bellisio.

Investors warmly greet acquisition bid for Overhill Farms by another maker of frozen fare.

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Business Holds Up ‘Congestion Fees’

DEVELOPMENT: Groups warn transit levies will lead nowhere.

Business leaders say the county is trafficking in a bad idea with “congestion fees” to fund transit projects.

L.A.’s Unemployment Rate Dips Into Single Digits

Los Angeles County’s economic recovery notched a milestone in April when the unemployment rate fell to 9.9 percent, the first time it was below 10 percent since December 2008, according to state figures released Friday.

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Businesses Seek ‘Shakedown’ Relief

Special Report: Toxic Prop

A legislator and Gov. Jerry Brown both try to put an end to Proposition 65 actions that some business owners call shakedowns.

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Home Field

Architect Brenda A. Levin’s business blueprint has included going to the office with her husband every day for more than 30 years.

Former Biofuels Firm Branches Out Into Wood

ENERGY: Rentech seeks to power up revenue with fiber and pellet production.

Rentech adds another plank to its business with wood fiber and pellet production.

BNSF Rail Yard Project Approved

The Los Angeles City Council on Wednesday approved a lease agreement with BNSF Railway Co. for the construction and operation of a controversial $500 million rail yard near the Port of Los Angeles.

L.A. Mayor Heads to China

Los Angeles Mayor Antonio Villaraigosa announced Tuesday that he will lead a trade mission to China later this month to focus on boosting Chinese tourism and investment in Los Angeles.

Nuclear Plant Kept in Dark

ENERGY: Edison may pull plug on troubled San Onofre.

Regulatory blackout may push Edison International to pull plug on San Onofre nuclear reactor.

Irani Forced Off Oxy Board

Ray Irani, former chief executive of Occidental Petroleum, was forced off the Westwood oil giant’s board on Friday.

Council Approves Plan to Move LAX Runway

The Los Angeles City Council on Tuesday voted to approve a controversial plan to move the north runway at LAX.

Edison Reports Strong Earnings

Edison International on Tuesday reported strong first quarter earnings that beat street estimates as its electric utility subsidiary profited from higher power rates that kicked in this year.

Oxy Board Moves to Retain Chazen as CEO, Restrict Irani's Future Role

After intense shareholder pressure, Occidental Petroleum Corp. announced Monday that Steve Chazen will continue to serve as chief executive through next year, and announced new governance policies that would effectively bar former Chief Executive Ray Irani from returning to that post.

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Greuel Favors Industry Zones

Special Report: The Race For Mayor

The Business Journal interviews the two contenders for Los Angeles mayor in the May 21 runoff. Next up is Wendy Greuel, 51, who has served nearly four years as city controller. Before that, she served seven years on the City Council representing the eastern San Fernando Valley.

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Garcetti Hails Green, Tech Jobs

Special Report: The Race For Mayor

The Business Journal interviews the two contenders for Los Angeles mayor in the May 21 runoff. First up is Eric Garcetti, 42, who represents the Hollywood area on the Los Angeles City Council.

State Orders Shutdown of Vernon Battery Recycling Plant

California regulators on Wednesday ordered the shutdown of a battery recycling plant in Vernon for failure to control pollution at the facility.

Villaraigosa Proposes Economic Development Department

Los Angeles Mayor Antonio Villaraigosa on Monday released his final budget as mayor. The $7.7 billion spending plan would close a previously estimated $216 million deficit and proposes creation of an economic development department.

DOWNTOWN L.A.: Asking Rents Decline as New Property Owners Pursue Tenants

Real Estate Quarterly

For years, it’s been the biggest anomaly in the downtown L.A. office market: Despite soaring vacancy rates and much more space being put on the market than absorbed in new deals, Class A monthly asking rents stayed stuck at nearly $3.20 a square foot.

Investors Pull Plug on Network Equipment Maker

TELECOM: Ixia shares fall after company reduces first quarter guidance.

Ixia’s stock drops as phone companies dial back their spending.