Molina Healthcare Inc. reported meager earnings after markets closed Wednesday, falling well short of Wall Street expectations on profits.
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.
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!”
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.
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.
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.
Shares of Koreatown lenders BBCN Bancorp Inc., Hanmi Financial Corp. and Wilshire Bancorp all closed slightly down Tuesday after the three banks reported earnings.
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.
FINANCE: Capital raises show strength of once-snubbed sector.
Small lenders look to capitalize on big investors’ surging interest in the sector.
finance: Westlake expands services to major dealerships.
Subprime auto lender Westlake Financial Services has taken a turn for major dealerships.
Most bank executives wouldn’t brag about how many of their employees were watching sports during the workday. Then there’s Alan Rothenberg.
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.
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.
Washington law firm Venable has acquired Westwood firm Weingarten Brown, the firms announced Tuesday.
FINANCE: Monroe Capital says Warren Woo used its assets to set up his business.
Ex-employer of Warren Woo alleges high-profile executive went for broke using its assets to launch firm.
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.
Engineering: Firms have noticed that there’s plenty of work in Los Angeles, so they’re opening offices and beefing up here.
The development boom is luring out-of-town firms to Los Angeles and leading local firms to expand.
On a Thursday in May, Hugh Hewitt was not at the Burbank studio where he records his nationally syndicated radio program or at the downtown Los Angeles law firm offices where he is a partner.
International: Small L.A. bank halts remittances to war-ravaged nation.
Carson lender Merchants Bank of California is one of the smallest banks around, but it plays an outsized role in war-ravaged Somalia: The bank processes about two-thirds of the $215 million sent from Somali immigrants in the United States to their relatives back home, according to non-profit groups there.
Market consolidation has allowed remaining lenders to fill their executive ranks with top-drawer veterans.
Brokerage’s app lets family, friends share investment moves social-network style.
Ditto Trade’s app lets friends and family share and share alike by tracking their stock moves.
LENDING: Borrowers fault National Bank of California for role as processor.
Class-action suits against payday lenders might have stalled a life-saving sale of National Bank of California.
LENDING: Remarketing sees increased need for its services among financial institutions.
One firm’s regulation is another’s windfall.
Workers at an El Super grocery store in East Los Angeles picketed Thursday in what could be a prelude to a strike at a handful of the chain’s locations.
Trying to match generous tax incentives in other states and keep entertainment production jobs here, the California Assembly on Wednesday approved an expanded version of its tax credit program for the film and television industries.
Pride looks to swipe customers with card donation program.
Pride Card Services takes credit for donating part of its processing fees to non-profits.
INVESTMENT: Small private brokerage B. Riley to go public via merger with property appraiser Great American Group.
B. Riley looks to raise its stock by going public through a reverse merger with Great American Group.
INTERNET: Analyst credits TrueCar for backing off higher price projections.
TrueCar’s shares trade above IPO price after the auto-shopping site put the brakes on higher projections.
Three major grocery store chains and the union representing Southern California grocery workers have reached a tentative deal for a new contract, both sides have announced.
West L.A. brokerage and investment bank B. Riley & Co. is going public in a merger with Great American Group Inc., a Woodland Hills liquidation company.
Last month’s Walk to End Genocide at Pan Pacific Park drew more than 3,000 people, the largest iteration yet of what has become the biggest annual anti-genocide demonstration in the country.
In the 20 years since the Business Journal began ranking the richest Angelenos, L.A.’s wealth has migrated from oil and show business to biotech, electric cars and private equity.
Twenty years after the Business Journal’s first list, wealth from tech and private equity are on the rise while show business and real estate have faded.
Big stakes in a single business can offer more control but also heightened risk.
EXPANSION: FirstKey opens L.A. office to target sector in California, Western states.
FirstKey Lending, a New York firm specializing in loans to owners of single-family rental homes, has opened an L.A. office with plans to build business in California and other Western states.
Federal officials have charged 15 people, mostly from Los Angeles, with bank fraud in a $15 million check-kiting scheme, the U.S. Attorney’s Office in Los Angeles announced Wednesday.
Buyers of Raul Ojeda’s Converse shoes tread into $25,000 territory.
Cobbler Raul Ojeda seeks buyers willing to foot the bill for $25,000 Converse sneakers.
SALE: Popular’s branches, $2.2 billion in assets, deposits to go to Irvine lender.
After buying two L.A. banks in the past 18 months, Steven Sugarman figured his Banc of California Inc. in Irvine was about done consolidating and ready to focus on organic growth.
Crystal Cruises offers visit to sets of HBO’s ‘Game of Thrones.’
Crystal Cruises looks to ride HBO’s buzz with “Game of Thrones” packages – dragons not included.
Twelve Los Angeles-area branches of Puerto Rico’s Popular Community Bank are being purchased by an Orange County lender.
New licenses rev up auto insurer’s focus
Spain’s Mapfre hopes illegal immigrants obtaining drivers licenses will rev up its auto coverage market.
Armstrong gardening business traces roots back to 1889.
Armstrong Garden Centers planted itself in Los Angeles way back in 1889.
ACCOUNTING: Nigro Karlin hopes to add sectors with its extra personal services.
Nigro Karlin looks to add more non-show business clients to its beyond-bean-counting personal service.
The death of Mickey Rooney last week got Michael Levine reminiscing.
Banking: Low-profile First Credit rides bridge financing to become L.A.’s most profitable lender for three years running.
First Credit has crossed over into elite territory with its high returns from bridge financing.
Investment: Double M participated in Santa Monica firm MomentFeed’s A round in December after having made seed-round investments in the company.
Before Mark Mullen upped his investment in social media marketing company MomentFeed late last year, he wanted to know if customers liked the Santa Monica company’s product.
Bizainy kits make kids bosses of their own businesses.
Bizainy makes a play for young entrepreneurs with its line of business-launching kits.
ACQUISITION: Future of Wedbush Bank in question amid Grandpoint deal.
Wedbush Bank, a savings and loan owned by securities brokerage Wedbush Inc., is selling its loans and deposits to Grandpoint Bank.
The Federal Reserve board on Tuesday approved a deal that will create the fourth biggest local bank: Century City’s PacWest Bancorp’s acquisition of downtown L.A. CapitalSource Inc.
lending: Hard-money lenders welcome pricey property projects as supply of low-end homes dwindles.
Hard-money financiers move into the high-price home market as the low-end housing pool dries up.
LAW: Gibson Dunn touts recent Latin American wins for Dole, Chevron as it courts more work from multinationals.
Recent court victories for Dole and Chevron are helping Gibson Dunn make its case for more international work.