Looking to Offer Services Beyond Mortgages
Keith Sultemeier is an outlier.
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.
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.
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.
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.
The acquisition of downtown Los Angeles asset manager TCW Group Inc. by the Carlyle Group and TCW management has closed, the companies announced Wednesday.
The owner of Inglewood’s Hollywood Park Casino plans to fire all 600 casino employees next month as it prepares to hand off operations to a different company, according to a memo sent to casino employees Monday.
INVESTMENT: Brentwood joins in $20 million round for Veggie Grill chain.
Westwood private equity firm Brentwood Associates has doubled down on vegan-friendly restaurant Veggie Grill and will get a tighter grip on the growing company in return.
George Clooney and nightclub operator launch liquor line.
Restaurateur Rande Gerber and actor George Clooney hope to catch lightning in a bottle with new tequila.
LENDING: Credit issues at NCAL helped to scuttle move by Grandpoint.
NCAL’s credit issues helped halt its acquisition by Grandpoint.
Koreatown banking giant BBCN Bancorp Inc. posted fourth-quarter profit above Wall Street expectations.
Reports - Overbuilt in the years leading up to the housing crisis and recession, the Santa Clarita Valley’s office market has been nearly one-quarter vacant for most of the past several years.
DINING: DineEquity stock up amid talk of buyback or regular dividend.
DINING – Talk about a share buyback or regular dividend has investors filling up on stock of Glendale restaurant franchiser DineEquity.
CleanCierge’s laundry lockers offer at-home drop-off and pickup.
LAUNDRY – CleanCierge.com co-founders expect business to keep picking up for their drop-off dry-cleaning service.
Girl Scout camped out at stores in her bid to sell the most cookies.
NON-PROFIT – Kristina Nelson out-boxed her Girl Scout rivals to sell the most cookies in greater Los Angeles.
The parent company of Koreatown’s Hanmi Bank reported a solid fourth quarter, with profit more than doubling over the same period a year ago as the bank paid out less interest and lost less cash to bad debts.
Growth in deposits, loans and credit quality helped East West Bancorp Inc. post record earnings last year, with profits up 15 percent over 2011.
FINANCING: Green Dot hopes to make GoBank work without loans.
GoBank, a new online bank created by Monrovia’s Green Dot Corp., offers checking accounts and online bill payment, and it’s insured by the FDIC.
Men’s apparel maker turns to trees to clothe customers’ trunks.
Maker of men’s undergarments branches into wood-fiber apparel.
ACQUISITION: Royal sees opportunity to broaden Chinese-American base.
After buying a Ventura County bank in 2011, Royal Business Bank in downtown Los Angeles has made another acquisition, this time in Orange County.
The tech-heavy startup scene in Los Angeles helped the region buck a national trend last year, drawing more venture capital investments as the nation saw an overall decline.
BBCN Bancorp Inc. said that Alvin Kang, the bank holding company’s chief executive, will resign effective Jan. 31. Kang is also resigning from his post as a director of the company.
Former aerospace engineer Randy Herrel now works on blueprint to bring back the crowds to Catalina.
Former aerospace engineer Randy Herrel now hopes to relaunch Catalina Island as a tourist destination.
SHIPPING: Toll labors to line up drivers for Teamsters.
Trucking company Toll Group pledges to ring up more unionized drivers at the Port of Los Angeles.
BANKING: Lender taps new CEO as it cleans up money-laundering issues.
Regulators force Chinatrust to play it safe after the bank came under scrutiny for money-laundering issues.
Koreatown’s Hanmi Financial Corp., the holding company that owns Hanmi Bank, is on the hunt for a buyer or merger, the company announced Wednesday.
El Segundo’s Century Park Capital Partners LLC continues to expand its holdings in the fire and emergency equipment business, acquiring manufacturer Fire Research Corp. through a portfolio company.
Mobi Munch’s investment raising and corporate deals are helping steer food trucks into the mainstream.
INVESTMENT: Brentwood held Pacific Island for unusual eight-year stretch.
West L.A. private-equity firm Brentwood Associates usually holds on to its investments for six years or so.
Buyers go hungry as dearth of sellers drops number of merger and acquisition deals this year.
Beverly Hills Caviar looks to spread product to masses with mall vending machines.
Beverly Hills Caviar looks to spread product to masses with mall vending machines.
Cardboard Firm Folds in Businesses
Used Cardboard Boxes repackages its business model to include corporate clients.
SHIPPING: Baker to build Long Beach complex’s first cold storage facility.
Vernon’s Baker Commodities Inc. plans to build what would be the only cold storage warehouse within the local port complex.
BEVERAGE: Shares of Farmer Bros. heat up on rumored McDonald’s deal. deal.
Investors super-size shares of coffee company Farmer Bros. after reports of deal with McDonald’s.
A transfer of cargo to Long Beach combined with the late-November strike led to one of the worst months this year for the Port of Los Angeles.
EXPANSION: Parsons acquires company to score work in growing market.
Pasadena’s Parsons Corp. is the latest local engineering and construction firm to buy a company in Brazil, a nation with a growing economy, vast infrastructure needs and a preference for local talent.
HEALTH care: Staar sees growth in California – for now.
Tax breaks have lens maker Staar bringing manufacturing back to California – for now.
Port clerks and their shipping company employers agreed Tuesday to work with a federal mediator in an attempt to end a strike that has shut down most of the ports of Los Angeles and Long Beach for the past week.
LOGISTICS: GTX makes case for using product to trace luggage location.
New GPS tracking devices made by downtown L.A. company GTX Corp. can be turned off remotely and turn themselves back on based on how high they are or how fast they’re moving.
MARKETING: BeCore sees New Vaudeville as means to showcase business skills.
BeCore stages a promotional coup with its own beer brand, New Vaudeville.
MEDIA: Woven steps into editorial content with deal for men’s site BroBible.
Online ad firm Woven is stitching together a network of editorial sites to display its advertorial content.
The nation’s largest retail trade group on Thursday called on President Barack Obama to help end a strike that has shut down most cargo operations at the ports of Los Angeles and Long Beach.
Striking port clerks on Wednesday shut down most container terminals at the local ports. Three of six terminals at the Port of Long Beach remain open, while just one of seven terminals is open at the Port of Los Angeles.
A strike Tuesday by port clerks has shut down the largest cargo terminal at the Port of Los Angeles and threatens to spread to all port terminals in Los Angeles and Long Beach pending a ruling by a local labor arbitrator.
DRUGS: West Hollywood company’s shares spike after votes to legalize pot.
It’s not often a chief executive tells investors their company’s stock is vastly overvalued.
Chamber sponsors sculpture garden on Avenue of the Stars.
Century City chamber helps civic pride take shape with street display of animal statues.
ENERGY: Bountiful production outlook capsizes giant project.
Domestic oil prospects help scuttle plan for import terminal at Port of Los Angeles.
ACQUISITION: Riverside buys MNX with eye on shipping special cargo.
Global private-equity group Riverside Co. sees money to be made in shipping sensitive cargo such as organs, blood samples and critical airline parts, a specialty of Inglewood logistics company MNX.
Investors refuse to enlist in Aecom shares after Iraq troop pullout lowers company revenue.
RETAIL: Growlife, maker of hydroponic greenhouses for pot, sets up shop in its first brick-and-mortar store.
Growlife sees a budding opportunity in opening brick-and-mortar shops for its hydroponic pot products.