Los Angeles Business Journal

Bud to Buy L.A.’s Golden Road

In a big deal for L.A.’s growing craft beer scene, Atwater Village brewery Golden Road is being acquired by beer giant Anheuser-Busch, the companies announced Wednesday.

Stocks Rise; Simulations Plus Climbs, Nova Lifestyle Sinks

The Dow Jones industrial average climbed 390 points in Tuesday trading to close at 16,493.

Olympics Vet Talks How to Engineer Run at Games

SPORTS: Bill Hanway sees even LAX helping get bid by Los Angeles off ground.

Olympics vet and Aecom exec Bill Hanway talks about the inside track to hosting the 2024 games.

Stocks Tumble; 89 Percent of Local Stocks Fall

The Dow Jones industrial average fell 588 points in Monday trading to close at 15,871, its lowest close since February 2014. The S&P 500 fell 78 points to close at 1,893. The Nasdaq fell 180 points to close at 4,526. The LABJ Stock Index fell 10 points to close at 207. Of the 158 stocks on the LABJ Stock Index, 140 lost value Monday, while just 10 companies saw shares rise. Eight stocks were unchanged on the day.

Rideshare Drivers, Taxi Backers Line Up at City Hall

Drivers for Uber and Lyft lined up opposite opponents of the ridesharing companies Tuesday at a Los Angeles City Council committee hearing that could determine whether the firms will be able to operate at Los Angeles International Airport.

Houlihan IPO on Tap Next Week

L.A. is set to pick up a new public company next week, as Century City investment bank Houlihan Lokey prepares for its initial public offering.

L.A. to Bid for 2024 Olympics?

With L.A. 2015 now underway, how about L.A. 2024?

Regulators OK CIT-OneWest Deal

Just shy of a year after the deal was first announced, federal banking regulators have signed off on New Jersey lender CIT Group Inc.’s purchase of Pasadena’s OneWest Bank.

Tuesday Rundown: Green Dot Opens Shanghai Office, Aecom Sells Staffing Unit, Molina Buys in Florida Again

Pasadena prepaid debit card firm Green Dot Corp has opened a new subsidiary in China that will focus on technology and software development.

Tuesday Rundown: Bank Deal Closes, Port Fees Going Up

Irvine lender Plaza Bank has closed its acquisition of Manhattan Bancorp, the El Segundo parent of Bank of Manhattan.

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Surprise Knock From Rent Control

REAL ESTATE: Buyer of CIM property jolted by designation.

The buyer of a Hollywood apartment just built by CIM Group was surprised to learn it was rent controlled.

Briefs: UCLA Study Rates L.A. a C+, Lions Gate’s Largest Shareholder Sells

UCLA Environmental Study Gives L.A. County a C+ Los Angeles County has work to do when it comes to the environment, according to a UCLA study released on Tuesday that rates the county’s environmental performance as a C+.

Diversified Investor Puts Money Into Ailing Bank

LENDING: Alex Meruelo to take control of NCAL despite scrutiny over payday loans.

Alex Meruelo further diversifies eclectic portfolio with deal for controlling stake in NCAL Bancorp.

Chicago Lender Monroe Drops Suit Against L.A. Exec

Chicago lender Monroe Capital has dropped a lawsuit it filed this summer against Los Angeles dealmaker Warren Woo and his new investment firm, Breakaway Capital.

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Good Deal?

Casinos split over wisdom of no-collection games

Some casinos see the big draw of no-collection card games as a big risk for their business.

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Different Cloth

Olivier de Givenchy saw finance career as better fit than family’s fashion, design pursuits.

Banker Olivier de Givenchy has made a name for himself outside of the fashion and beauty sectors his family is famous for.

LAX on Pace for Record Year

Los Angeles International Airport remains on pace for a record year after a strong September, according to passenger traffic figures released Friday.

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Take and Give

Lenders compete to help business owners tap dividend recapitalizations for hefty payouts while loading their companies with debt. Once limited, the practice nears record pace.

Bankers take dividend recapitalizations mainstream, letting business owners load up on money while loading their companies with debt.

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Name-Dropping Worked for Bank

finance: New handle offered Cappello new life in court fight.

Investment bank Cappello Capital has gone back to work under a new name after a firm-scuttling lawsuit.

Helping Get Over Bridge Work

Port-commissioned app to help drivers with Desmond project.

Internet Long Beach port builds bridge to future with app to help navigate traffic during Gerald Desmond work.

Rough Road for Family

Ari Bass was one of many L.A. dads who spent a couple weeks in August driving a van on a family vacation.

Lender Steers Way to Texas

Banking: Hanmi joins rivals in chasing out-of-state growth.

Banking: Koreatown’s Hanmi is in a state of expansion with its acquisition of Texas’ United Central.

Hanmi Financial Corp. Acquires United Central Bank

Koreantown bank holding company Hanmi Financial Corp. completed its acquisition of United Central Bank of Garland, Texas, over the weekend in a deal that gives Hanmi a presence in Illinois, Texas and Virginia.

Snack Maker Chips In With Healthy Line

Quest Nutrition’s new products offer buyers taste of protein.

Quest Nutrition hopes for healthy returns from its new milk protein-based chips.

Wedbush Responds to Regulatory Complaint

Downtown stock brokerage Wedbush Securities in Los Angeles has responded to a financial industry group’s allegations of problems in its market access operations over the past several years.

Ratings Agency Plans to Test Insurers’ Reserves

INSURANCE: CEO at parent of companies says rapid growth helped spur review.

Two insurance companies owned by Malibu billionaire Don Hankey are under review by ratings agency A.M. Best Co., which said it is concerned that the insurers might not have enough reserves to keep pace with their growth.

Case Maker Has Luggage In the Bag

Pelican Products looks to secure new market with sturdy approach.

Security case maker Pelican Products has a brand new bag: luggage.

Banks Now Seek More of CEOs

LENDING: Longer deals take hold at Koreatown institutions.

Some Koreatown banks have broken with a long tradition of short contracts for CEOs.

Great American Reports Smaller Loss

Great American Group lost money in the quarter ended June 30, but it indicated Thursday that it could swing to a profit now that it’s combined with West L.A. investment bank and brokerage B. Riley & Co.

Surf Air Announces Expansion

Santa Monica startup airline Surf Air has announced big expansion plans, including the addition of as 15 new planes to its fleet and as many as 13 new destinations.

Brand Licensor’s Shares Climb as Dividends Fall

APPAREL: Cherokee’s expansion plan proves good fit on Wall Street.

Brand licensor Cherokee’s expansion plan grows on investors despite a dip in dividends.

Sharing Athletic Spirit

From soap opera extra to crew director, Steven Barber has had every job in the “biz” over the past 25 years.

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Betting on Risk

LENDING: Celtic Capital spins off from bank parent PacWest in order to maintain focus on high-risk asset-based loans.

Principals at newly spun-off Celtic Capital see the risky asset-based loan business as a safe bet.

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Pest Control On Wing And Preyer

Isotech uses falcons, hawks to chase birds from client properties.

Isotech looks to feather its nest by offering falcons and hawks to chase off pesky birds at client properties.

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Money Managers Hit Tech Circuit

INVESTMENT: Many cultivate young CEOs before they’re rich.

Money managers look to get a jump on future millions by hooking up with tech entrepreneurs before they’ve raised any funds.

Molina Net Income Falls Short

Molina Healthcare Inc. reported meager earnings after markets closed Wednesday, falling well short of Wall Street expectations on profits.

Advocacy Group Casts Lot With Former Mayor

LENDING: Non-profit seeks Villaraigosa’s help on local impact of bank acquisition.

An advocacy group protesting a local bank transaction wants former Los Angeles Mayor Antonio Villaraigosa to broker a deal and end the dispute.

Credit Union Channels TV Spotlight

SCE Federal staff takes turns offering financial tips on daily program.

SCE Federal Credit Union hopes its star rises with employees’ daily appearances on TV show “Tu Mundo Hoy!”

Why Rival Banks Put Money in East L.A. Lender

BANKING: Investment in Pan American could pay off in public-service benefits.

Investing institutions expect to buoy their business by sinking $6.3 million into floundering Pan American.

City National Beats Expectations

City National Corp. reported strong second-quarter earnings after markets closed Thursday, posting net income of $66.7 million ($1.11 a share), up 12 percent over the same period a year ago.

Fellow Lenders Save East L.A’s Pan American Bank

More than a dozen West Coast banks, including eight in Los Angeles County, pumped $6 million of new capital into East L.A. lender Pan American Bank, which was on the verge of being shut down by regulators.

EARNINGS: BBCN, Hanmi, Wilshire

Shares of Koreatown lenders BBCN Bancorp Inc., Hanmi Financial Corp. and Wilshire Bancorp all closed slightly down Tuesday after the three banks reported earnings.

Television-Film Company Makes Noise With Library

MEDIA: Lions Gate among content owners boosted by bid for Time Warner.

Producer-distributor Lions Gate’s star rises on increased demand for TV and movie content.

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Investors Return To Small Banks

FINANCE: Capital raises show strength of once-snubbed sector.

Small lenders look to capitalize on big investors’ surging interest in the sector.

OK, Soccer Break’s Over...

Most bank executives wouldn’t brag about how many of their employees were watching sports during the workday. Then there’s Alan Rothenberg.

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Metal Broker Aims to Take Shine to British Market

GOLD: Rosland Capital to adapt U.S.-centric pitch in hopes of stoking interest.

Expansion into Britain may test the mettle of brokerage Rosland Capital.

Car Lender Eyes Lots of Growth

finance: Westlake expands services to major dealerships.

Subprime auto lender Westlake Financial Services has taken a turn for major dealerships.

City Seeks Receiver for DWP Institutes

Los Angeles City Attorney Mike Feuer has asked a court to appoint a receiver to oversee the actions of two organizations run by the Department of Water and Power and a local union.

Westwood Law Firm Acquired

Washington law firm Venable has acquired Westwood firm Weingarten Brown, the firms announced Tuesday.

‘Hana Bank’ Battle Faces Supreme Test This Fall

LENDING: High court may decide whether Korean or L.A. business can use name.

Downtown L.A. lender Hana Financial Inc. lost the latest round in its long-running trademark fight with South Korean banking conglomerate Hana Financial Group last year.


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