Korn/Ferry Net Income Grows
Executive search firm Korn/Ferry International reported higher net income in its fourth quarter ended April 30.
Koreatown Bank’s Growth Plan Leads East ... to New Jersey
Wilshire Bancorp vaults into New Jersey as part of the Koreatown lender’s expansion strategy.
High Court Weakens Port's Clean Truck Program
The U.S. Supreme Court on Thursday further weakened the Port of Los Angeles’ Clean Truck Program, overturning two minor provisions that had been upheld by a lower court.
Hanmi Names New CEO
Chong Guk Kum, former chief executive of Westlake Village’s First California Financial Group Inc., has been named chief executive of Koreatown’s Hanmi Financial Corp.
Wilshire Bancorp Makes East Coast Acquisition
Koreatown’s Wilshire Bancorp Inc. on Monday said it plans to acquire a small Korean-American bank in New Jersey, adding to its East Coast presence.
Private Equity Firm Picks Up Acquisition Pace
INVESTMENT: Clearlake buys IT firm and fashion website in two recent deals.
Santa Monica private equity firm Clearlake Capital Group has been putting a new fund to work with two acquisitions announced in recent weeks.
Amazon Raising Stakes in L.A. With Delivery Service
GROCERY: Meat vendor makes the cut as one of first clients.
Huntington Meats hopes Amazon’s new delivery service will beef up its business.
IPO for Colony Spinoff Is Priced
The coming public offering of Colony Capital LLC spinoff Colony American Homes could bring in more than $230 million.
Getting Off Ground
Atmosphere is changing around SpaceX as it looks to become a steady rocket launcher.
Toymaker Game to Bring Staff to HQ in El Segundo
MANUFACTURING: Move part of Mattel’s new focus on relations with retailers.
Barbie parent Mattel makes play to boost North American division by consolidating in El Segundo.
Riches Under the Radar
SPECIAL REPORT: Wealthiest Angelenos
Some of L.A.’s richest residents elude the spotlight while piling up millions and even billions in low-profile industries.
Former Clients to Get Convicted Accountant’s Files
INVESTIGATION: Plaintiffs hope hard drives will help lawsuits against bank.
Politicians and campaign organizations suing a local bank over money stolen by campaign accountant Kinde Durkee could get their hands on more evidence in coming weeks.
Auctioneer Has Lots in Its Pouch
Nate D. Sanders house handling items from ‘Captain Kangaroo.’
Huge collection of items from classic kids’ show “Captain Kangaroo” gets local house hopping.
Shares Rise as Oaktree Beats Expectations
Oaktree Capital Group LLC shares rose after the company beat Wall Street expectations again with first-quarter results reported Tuesday.
Judge Orders Colony to Proceed With Casino Sale
A New Jersey judge has ordered Santa Monica firm Colony Capital LLC to proceed with the sale of an Atlantic City hotel and casino to the operator of an online poker site.
Depression-Era Stock Brokerage Smiles at Merger
INVESTMENT: Davidson offer too good to pass up for Crowell Weedon.
Downtown L.A. stock brokerage Crowell Weedon & Co. was founded during the Great Depression – and its age was showing.
Montana Firm Buys L.A.’s Oldest Brokerage
A Montana stock brokerage has bought downtown L.A.’s Crowell Weedon & Co., the oldest local brokerage and one of just a few remaining in Los Angeles.
Medical Employee Firm’s Stock Gets Shot in Arm
HEALTH CARE: Increase in patient visits helps boost shares of IPC.
Investors check into IPC after the medical employee business reports healthy quarter
Gem of a Deal?
Firm polishes up diamonds as investment
Chris Duffield and Kristopher Schellhas hope to polish up investors’ portfolios with diamonds.
L.A. Banker to Announce Syrian Reconstruction Fund
A Los Angeles banker, the head of a Middle Eastern investment bank and retired General Wesley Clark plan to announce Monday the formation of an investment fund to help rebuild Syria.
BBCN's Quarter Hurt by Bad Loan
Koreatown bank holding company BBCN Bancorp’s earnings fell well short of investors’ expectations, thanks in part to one bad loan.
Lower Wilshire Profit Better Than Expected
Wilshire Bancorp Inc. on Monday reported sharply lower first-quarter profits compared to last year, though the results topped Wall Street expectations.
Brokerage Takes Stock of Poland
INVESTMENT: Wedbush aims to tap Warsaw exchange.
Stock brokerage Wedbush is betting its zloty on Poland’s Warsaw exchange as a revenue generator.
Fashion Retailer’s Equity Arrangement Tailor Made
FINANCING: Owners of Planet Blue retain larger stake with debt transaction.
Santa Monica retailer and fashion brand Planet Blue needed cash to buy more inventory, redo its website and attract more online customers.
City National Reports Higher Profit
Downtown L.A. bank holding company City National Corp., parent of City National Bank, on Thursday reported higher first-quarter net income that fell just shy of investors’ expectations.
BBCN to Buy Chicago Bank
BBCN Bancorp is heading east with Tuesday’s announcement that it plans to acquire a Chicago-based Korean-American bank for $4.6 million.
Bonds Break At Brokerage
INVESTMENT: Vets exit TCW as Carlyle takes over.
TCW can no longer bank on a stable image as veteran executives continue to jump ship.
Sequencing Venture Capital
Special Report: Tech Finance
Business Journal takes a step-by-step look at how funding needs are met as tech startups mature, with profiles of local investors.
Green Dot CFO To Depart
Monrovia’s Green Dot Corp. is in the market for a new chief financial officer after John Keatley announced he plans to leave the company by September.
Fired KPMG Auditor Is Prominent L.A. Businessman
The fired auditor at the center of a Los Angeles insider trading case has been identified as Scott London, a longtime partner in the downtown L.A. office of accounting firm KPMG and a board member of the Los Angeles Area Chamber of Commerce.
Suitor for Skin-Care Firm Rubs In an Improved Offer
HEALTH CARE: Valeant’s latest bid for Obagi might fall short as stock surges.
Valeant fleshes out a bigger offer for skin-care products company Obagi.
Private Equity Firm Sees Filter Maker as Pure Play
ACQUISITION: Vance Street takes controlling interest in Micronics.
The filters that separate precious metals from wastewater at a mine or pull impurities out of milk at a dairy aren’t expensive, but they’re vital pieces of equipment that companies will continue to buy if they’re reliable.
Stocked Up
Farmers bank keeps share number low, value high
Is Farmers & Merchants Bank the Berkshire Hathaway of Los Angeles?
Bank Created Little Interest
LENDING: Evergreen can’t even sell off its charter.
Evergreen International Bank checks out after failing to find a buyer for its assets or charter.
Auctioneer Has Pen Pals
Fitzgerald poems and Richard III signature to go up on block.
Nate Sanders hopes poems by F. Scott Fitzgerald and Richard III’s signature have the write stuff with bidders.
Shapes Of Future
MANUFACTURING: Keck-Craig out of its depth competing with 3-D prototypes.
Old-school Keck-Craig found itself out of shapes when competing with 3-D modelers for prototype work.
Skin Care Company Doesn’t Hide From Suitor
HEALTH CARE: Obagi accepts acquisition offer from Montreal’s Valeant.
Successful suitor Valeant fleshes out deal for skin care products maker Obagi.
Building Buyers Welcome Wells Fargo Into Fold
INVESTMENT: Oaktree, National Financial praise bank as stable tenant.
When Wells Fargo & Co. pays its rent next month, the San Francisco banking giant will be sending a few big checks to Los Angeles.
Traders Crank Volume on Plastic Resin Company
INVESTMENT: Cereplast activity partly fueled by new shares from debt deals.
Investors have turned up Cereplast’s stock trading volume as they attempt to sound out the plastic resin maker’s future.
Success in the Bag?
FOOD: Snak King restyles packaging of Whole Earth brand to accent flavor over health benefits.
Snak King hopes shoppers bite on the refocus of its Whole Earth line from healthy to tasty products.
Growth Factors
Tightened credit standards at banks have prompted businesses to turn to factors for high-cost, short-term loans.
Seeking Clients Who’ve Never Heard of Factoring
Fast A/R Funding uses online advertising to pursue clients outside of factoring’s traditional sectors.
Bad Buzz For Electric Sedan
AUTOMOTIVE: Coda may seek sale as firm grinds gears.
Coda brings in investment banker as the electric car maker spins its wheels saleswise.
Bank Sheds Nonperforming Loans as Well as CFO
Broadway Federal Bank continued to shore up its balance sheet last month, selling off more than $13 million in nonperforming loans.
Who's Who In Banking & Finance: Keith Sultemeier
Looking to Offer Services Beyond Mortgages
Keith Sultemeier is an outlier.
Who's Who In Banking & Finance: Jim Updike
Once a Customer, Now CEO
Jim Updike’s rise through the credit union industry started at the very bottom with a small loan to buy a TV set in 1969.
Pot Shop Deals Up in Smoke?
BANKING: Wary lenders look to cut ties to properties.
Lenders look to nip deals involving pot shops in the bud before the properties are seized by law enforcement.
Hogwarts Heads for High Seas
Harry Potter fan shop looks to make waves with wizard cruise.
Shop for Harry Potter fans looks to buoy business with wizard-themed ocean cruise.
High-Rise Owner Finds Portfolio Deal Tall Order
REAL ESTATE: Shares fall after MPG reportedly ends search for buyer.
MPG stock falters as property owner comes up short in deal for high-rise portfolio.
Horse Track Hands Reins To New Casino Manager
GAMING: Hollywood Park looks to beef up gambling operations while pursuing mixed-use development.
Hollywood Park puts its money on new casino operator while its mixed-use project isn’t out of the starting gate.
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