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labusinessjournal.com LOS ANGELES BUSINESS JOURNAL Volume 33, Number 24 THE COMMUNITY OF BUSINESSTM June 13 - 19, 2011 • $3.00 Media Developer Cited For Big Hazards REAL ESTATE: But Barry Shy says city had signed off on work. By ALFRED LEE Staff Reporter

Earlier this year, city inspectors ordered major downtown developer Barry Shy to evacuate part of Eric Yoon is one of his apartment towers after uncovering life- among L.A. threatening safety hazards. businesspeople Violations were found on every floor of his Sixth tuning into TV in Street SB Manhattan building from the sub-basement Korea. PAGE 5 to the upper penthouse. Shy, who had converted the office building into 198 lofts, did large-scale construction without approval, inspectors concluded. This included demol- Services ishing four elevators, adding apartments on new floor space that hadn’t been inspected and constructing hall- ways that might not hold up in a fire. “I haven’t seen an order this major for a building

Please see REAL ESTATE page 44

Festival Set: Pasquale Rotella with sketch and models of SPECIAL REPORT teepee installations for EXECUTIVE COMPENSATION upcoming Electric Daisy rave. How Gensler is RINGO H.W. CHIU/LABJ Guess which designing the executive drew the wow factor into highest pay last its new down- town digs. year in L.A.? No, PAGE 8 Losing Sleep it wasn’t perennial top dog Ray Irani at Occidental Transport Insomniac wants Electric Daisy back in L.A. Petroleum. He was By NATALIE JARVEY Staff Reporter spontaneous raves into well-planned weekend- Udvar-Hazy ousted by billionaire long festivals that draw thousands of people to Steven Udvar-Hazy, ASQUALE Rotella began staging his electronic some of the best-known venues in Los Angeles. who is now piloting Air Lease Corp., music dance parties almost two decades ago in Rotella, the founder and chief executive of Hol- PLos Angeles, when the so-called raves were lywood’s Insomniac Inc., is the guy who a company that went public just last staged at empty warehouses in dicey neighborhoods. brought raves mainstream. month. He wasn’t the only C-suite Back then, raves were an underground phe- But now, his signature event has left Los Angeles. occupant to do well. Cumulative pay nomenon, known for rampant use of the drug The death of an underage girl last summer at for chief executives at L.A.’s 50 ecstasy, a stimulant that kept the teen and twenty- Insomniac’s biggest concert, Electric Daisy Car- largest public companies rose Why the Port of something partygoers dancing all night – and get- nival, along with other problems, resulted in L.A. wants its ting into other trouble. 41 percent last year. money back Since then, he has transformed the almost- Please see EVENTS page 42 BEGINNING ON PAGE 16 from six truck companies. PAGE 10 Easing the Squeeze on Market Vendors MAIL TO: erna in Westchester who also runs Aliki’s Olive Oil GOVERNMENT: Inspection booths at several local farmers markets. fees reduced after complaints. After inquiries from the Business Journal, county health officials last week acknowledged that the fees By HOWARD FINE Staff Reporter have been out of line. They are now proposing to cut the health inspection fees for farmers’ market ven- Vendors at farmers’ markets have long com- dors by 30 percent. plained that Los Angeles County public health “It’s fair to say that we received input and made department inspectors routinely spend less than 10 another look,” said Angelo Bellomo, director of environ- minutes in their booths twice a year, yet charge for mental health with the county’s public health department. nearly two hours worth of inspection time, thereby The proposed reductions will be folded into an inflating inspection fees by at least a factor of four. entire inspection fee overhaul. A new fee schedule “It’s a corrupt system all aimed at generating that called for generally higher fees was set to take

extra money for the county,” said Panagiotis RINGO H.W. CHIU/LABJ Theodoropoulos, the owner of Aliki’s Greek Tav- Please see GOVERNMENT page 43 Making a Stand: Theodoropoulos in booth.

Real World Insight for Middle Market Companies

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2 LOS ANGELES BUSINESS JOURNAL JUNE 13, 2011

LOS ANGELES BUSINESS JOURNAL ®

Ourformulaforvalueissimple. JUNE 13 - 19, 2011 VOLUME 33, NUMBER 24

RINGO H.W. CHIU/LABJ Page 10: Trucks at the Port of L.A., which wants repayment of some subsidies. DEVELOPMENT – Architecture firm Clients tell us that our superior ON THE COVER Grant Thornton Gensler is moving into new digs downtown, service makes their relationship 0-10 Big Other firms Statistically scale LLP Four mentioned significant with Grant Thornton a real value GOVERNMENT – In response to vigorous and the wow factor needs to be sky high. . .8 for them. There’s no greater Audit 8.84 lower lower yes complaints about overcharging, the county RETAIL – Shoemaker K-Swiss Inc. is facing compliment than a strong Tax 8.72 lower lower yes will cut its rate for health inspections at an uphill climb as mounting losses drive recommendation, and a recent down its stock price...... 9 Value for fees farmers markets. client satisfaction survey, 8.38/8.29 lower lower yes (audit/tax) REAL ESTATE – Major downtown TRANSPORTATION – The Port of Los conducted by an independent developer Barry Shy has been cited for Angeles wants $1.57 million of its money research firm funded by returned from six trucking companies, Grant Thornton LLP, tells the tale. significant building and safety violations at one of his apartment towers. But he claims claiming subsidized trucks didn’t make the 10 To find out more, access the results at everything’s in order. required number of trips to the port...... Columns & features – Media Watch 10, GrantThornton.com/clientsatisfaction EVENTS – The big Electric Daisy rave has or contact Joel Anik, Managing Partner Technology 12, Banking & Finance 14, left Los Angeles after its disastrous show at at 213.596.3484 or [email protected]. Audit • Tax • Advisory Advertising & PR 15 the Coliseum last year. But the L.A. company that stages the event hopes to return. Grant Thornton refers to Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd, an organization of independently owned and managedaccountingandconsultingfirms. THE LIST

UP FRONT COMPENSATION – Steven Udvar-Hazy of Air Lease Corp. has unseated Ray Irani ADVERTISING – Media lab uses facial- of Occidental Petroleum as the highest Fisher & Phillips Value motion technology to see if people pay more paid executive of a Los Angeles public attention to Internet ads than TV Atlanta company...... 16 commercials...... 3 Charlotte RANKING – The pay of top executives of MEDIA – Reality didn’t meet the expectations Chicago L.A.’s 50 largest public companies. . .17-18 Cleveland of a Burbank bar owner when he let a Spike TV show give his place a makeover...... 3 Columbia INVESTMENTS & FINANCE Dallas REAL ESTATE – Finding banks balky, Denver Mark Wilbur of Employers Group came up Columns & features – LABJ 200 30, Fort Lauderdale with a novel way to self-finance the tenant Econowatch 32 Houston improvements at his new digs...... 3 Irvine Columns & features – Page 3, REAL ESTATE Kansas City Regional Report 4 Many law firms talk about value as if it’s a new Las Vegas HOUSING – Los Angeles appears to be concept. At Fisher & Phillips LLP, our commitment Los Angeles 33 to value dates back to the founding of the 444 South Flower Street NEWS & ANALYSIS resisting the “double-dip” in prices...... firm nearly 70 years ago. So how do we provide Suite 1590 CHART – A list of May home and condo sales this value? Los Angeles, CA 90071 MEDIA – Forever 21 and ethnic L.A. radio by neighborhood...... 33 phone: (213) 330-4500 and television stations are getting into the Columns & features – Real Estate toll free: (866) 424-2168 We do only one thing: Represent employers in labor picture on new cable channels in South 37 fax: (213) 330-4501 Column and employment matters. You benefit from our deep Korea...... 5 and broad expertise in the area of the law we Louisville TECHNOLOGY – Boingo Wireless’ stock know best. New England COMMENTARY has slid dramatically in its first month as a New Jersey public company, likely due to competitive COMMENT – Charles Crumpley wonders Our attorneys treat your legal problems as business New Orleans pressures...... 5 problems, and help you avoid legal disputes. We are Orlando why state lawmakers are making lawbreakers responsive, we are economical, and we reward Philadelphia HOSPITALITY – Talk about government out of hotels that use flat sheets...... 46 our associates for quality work, not just for billable Phoenix getting in your bed: Proposed legislation POLITICS – Tim Cavanaugh believes that hours. We are national and local, with attorneys in Portland would make it a misdemeanor for hotels to there’s not enough money for Mayor Antonio 25 offices around the U.S. San Diego use flat sheets instead of fitted ones...... 6 Villaraigosa’s 30/10 transit plan...... 47 San Francisco ECONOMY – Before the recession, L.A. GOVERNMENT – Gary L. Toebben writes For more on the Fisher & Phillips Value Statement, go Tampa executives were most concerned about that it’s time for a state budget workout. . .47 to www.laborlawyers.com/value. Washington, DC quality-of-life issues. Now they’re concerned Columns & features – LABJ Forum 46, about taxes and regulations...... 7 Letters 47

Los Angeles Business Journal (ISSN 0194-2603) is published weekly. © 2011, Los Angeles Business Journal. Offices are located at 5700 Wilshire Fisher & Phillips LLP Blvd., Suite 170, Los Angeles, CA 90036. Periodicals postage paid at Los Angeles, CA and additional offices (USPS #492-930). Subscription prices: 51 issues and special issue, $99.95. For new and renewal subscriptions, call 1-800-404-5225. All other inquiries (323) 549-5225. Single attorneys at law copies, $3.00. Mailed copies, $5.00. Back issues, $8.00. Address and subscription inquiries to: Circulation Department, Los Angeles Business Jour- nal, 5700 Wilshire Blvd. Suite 170, Los Angeles, CA 90036. This newspaper is designed to inform decision-making executives, investors and man- ® agers on the trends, the growth and the ideas important to commerce and industry in Los Angeles County. Information in Los Angeles Business Solutions at Work National First–Tier Rankings Journal is gathered from sources considered to be reliable, but the accuracy of this information cannot be guaranteed. Neither that information nor Employment Law – Management any opinion which may be expressed here constitutes a solicitation for the purchase or sale of any securities. Opinions expressed in letters to the editor and commentaries are those of the authors and not necessarily those of Los Angeles Business Journal. Member Audit Bureau of Circulations. www.laborlawyers.com Labor Law – Management LABJ has been adjudicated Nov. 1985 to be a newspaper of general circulation. POSTMASTER: Send address changes to Los Angeles Business Journal, PO Box 16825, North Hollywood, CA 91615. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

JUNE 13, 2011 UP FRONT LOS ANGELES BUSINESS JOURNAL 3 Bar Owner Gets Taste Of Reality Champs Sports Pub got a ‘rescue,’ but no one is saying ‘Cheers’ Reality TV sometimes cap- tures real-life drama, but other times it creates its own. At least Burbank bar owner Joe Handy Serve Somebody: Joe Handy, right, during makeover. said his real drama began when the cameras stopped rolling. by Redondo Beach’s 3 Ball seemed pleased with the Spike TV reality- Productions, one of the pro- refreshed Champs when it was makeover program “Bar Res- ducers of the “Biggest Loser” unveiled during filming. But he cue” and its host, restaurant – features Taffer and a team of said buyer’s remorse may have consultant Jon Taffer, took hospitality experts who take set in after the camera crews left. over Handy’s Champs over bars on the brink and try “When the cameras go Sports Pub for two days last to improve their business. away, it’s like ‘Uh, what just month to help turn around the At Champs, Taffer and his happened?’” Nelson said. “I struggling establishment. team streamlined the bar’s think they were thinking, However, the facelift back-of-the-house operations, ‘They are going to come in, wasn’t what Handy expected. added a convection oven to and we are going to get a “It didn’t turn out real the kitchen, revamped its brand new bar.’” well,” said Handy, who menu and upgraded and repo- Nelson said “Bar Rescue” founded the bar with his wife sitioned the televisions to does light remodels, not like

RINGO H.W. CHIU/LABJ Helen in 1983. “It’s so bad, I encourage customers to inter- “Extreme Makeover: Home A Moving Experience: Mark Wilbur at new El Segundo offices of Employers Group. contacted an attorney and I’m act with each other. The aging Edition.” trying to recover our losses.” bar also got a good cleaning “It’s creating that founda- and pledged it to the bank. talked to loved the idea because Handy wouldn’t elaborate on and fresh coat of paint. tion that they can build upon,” Leveraging “Why am I going to it breaks the loggerhead for ten- what he specifically disliked. Todd Nelson, co-chief exec- he said. Free Rent deposit the cash equivalent to ants who are struggling with “Bar Rescue” – produced utive at 3 Ball, said Handy – Alexa Hyland get a letter of credit?” Wilbur the letter of credit issue.” For Credit asked. “It’s moronic.” Matthew May, owner of Wilbur came up with a commercial brokerage May Looking for facial features. The movements about neuro-marketing biomet- With banks wary, one solution: a “self-funded letter Realty Advisors in down- are then converted into algo- rics and their accuracy, but in executive comes up of credit.” It worked because town Los Angeles and who Attention rithms that calculate how much this case we were only looking with novel solution. the new landlord, like so many was not involved in the deal, attention a viewer is paying to at the position of the head, so others in this economy, had said letters of credit have Advertising think tank video content. I’m pretty confident our findings When Mark Wilbur decid- agreed to give Employers become a problem for many tracks facial motion in Brian Monahan, managing are legitimate,” Monahan said. ed to move his company from Group free rent for the first tenants looking to relocate. market research study. partner at the lab on L.A.’s Mir- One finding of Media Lab’s downtown to El Segundo several months. Instead of “It’s a trend only because acle Mile, said the software was study was that online video ads recently, he ran into some pocketing the money, Wilbur credit has become more diffi- Can the curl of a lip or the originally developed at the received 20 percent more full unexpected opponents: banks. went ahead and paid the rent it cult,” May said. “You’re raising of an eyebrow really Massachusetts Institute of Tech- attention than TV commercials. That’s because the new to the landlord, who agreed to forced to be more creative.” show that viewers are paying nology to help autistic children That’s significant because on a space for Employers Group, keep the money in a fund, Wilbur said he likes the idea attention to commercials? recognize facial emotions and per-viewer basis, online video a human resources consultan- which acted as a guarantee not of cutting banks out of the pic- Yes, according to a new has since been commercialized. cost about three times more than cy Wilbur serves as president, unlike a letter of credit. The ture because it streamlines the study from an industry think This study didn’t delve TV, and advertisers want to required some costly tenant landlord agreed to pay back tenant-landlord relationship. tank – as long the facial into emotions, but rather used know if the premium is worth it. improvements, and the land- that money gradually as free “This is an entrepreneurial movements are tracked by the facial data to track the The software is owned by lord demanded a letter of cred- rent during the 10-year lease. way to try to get business special computer software. position of viewers’ heads as Affectiva Inc., a Waltham, it worth $300,000 to cover “The landlord was on this moving again,” he said. “If The software, licensed for the they watched both online and Mass. company that licenses them. Wilbur was told he deal like a bear on steak,” said we wait for the banks to get study by Inter Public Group’s television ads. For example, it to academic investigators. could get that letter of credit – Wilbur, who believes other ten- creative, we’ll be waiting for Media Lab in Los Angeles, uses staring straight into the screen The Media Lab study was its as long as he bought a certifi- ants and landlords could use the a very long time.” cameras attached to video qualifies as full attention. first use for market research. cate of deposit for $300,000 strategy. “Every landlord we – Joel Russell screens to track the movement of “There’s a whole debate – Joel Russell

Keeping a Secret for Downtown Surprise

Downtown L.A. booster Hal Bastian got a Weiss, Bastian knew something was up when he interesting from the surprise one recent afternoon when he went in for walked in and saw his mother. “Then he just perspective of a bad kid his daily exercise at the Los Angeles Athletic Club. stopped and looked at everybody and this huge who turned around his Associates, friends and relatives – 90 in all – smile lit up his face,” Weiss said. life and from the per- had secretly gathered there to congratulate him Bastian sent out a “thank you” e-mail the fol- spective of applied on achieving an unlikely milestone: 1,000 con- lowing day. “Boy was it a surprise,” he wrote. lessons from my prob- secutive days of exercise. “You can now all work for the CIA.” lems.” “Advice from Dad,” Life Lessons which was released last PAGE 3 With two daughters studying at Harvard Uni- month, is Moore’s sec- versity, Schuyler Moore is often asked for advice ond book. His first was CHARLES CRUMPLEY on how to raise children. Moore’s answer: He Moore about the entertainment told stories about his own difficult childhood to industry. Bastian, director of economic development explain to his daughters the importance of suc- Moore said the inspiration for his second for the Downtown Center Business Improvement ceeding. book came from wanting to preserve his stories District, had a health scare three years ago. Fol- Now Moore, an entertainment lawyer at for his children. lowing that incident, he vowed to exercise daily Stroock in Century City, has published those “I wanted my kids to know about my back- and made no secret of his progress with his lessons to his daughters in a book called “Advice ground,” he said. “I always wished my parents friends. From Dad.” had sat down and relayed their life to me.” So, as day 1,000 approached, Justin Weiss, In the book, Moore, who turns 56 this week, who works with Bastian at the Downtown Center explains how his struggles with drug addiction Staff reporters Howard Fine and Natalie Jarvey BID, and Jeff Malin, a downtown developer and and multiple arrests helped him teach his daugh- contributed to this column. Page 3 is compiled

PHOTO BY GARY LEONARD longtime friend, put together a surprise party ters important life lessons. by Editor Charles Crumpley. He can be reached at Suited Up: Hal Bastian at party. May 24 to mark the occasion. According to “I had a very difficult youth,” he said. “It’s [email protected]. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

4 LOS ANGELES BUSINESS JOURNAL UP FRONT JUNE 13, 2011

News and notes from communities across REGIONAL REPORT Los Angeles County TVtracker. Popular among industry execu-  TRI-CITIES tives, Los Angeles-based TVtracker is a sub- scription-based service that covers pilot pick- ups, post-production and other business activi- BURBANK ty pertaining to U.S. filmed entertainment.

Baby Store: Walt Disney Co. plans to fur- ther extend its brands into the retail arena by  WESTSIDE opening two stand-alone stores offering Dis- ney-branded baby goods, with the first store set to open next year at the Americana at CENTURY CITY Brand mall in Glendale. Disney Baby will fea- ture toys, clothing and personal items. Disney, Taiwan Expansion: California Pizza which already operates a chain of Disney Kitchen Inc. has signed an agreement with a Stores offering items for older children and new franchise partner to open restaurants in Tai- adults, sold $9 billion worth of Mickey wan. Quanta Foods, which is the exclusive fran- Mouse–related merchandise last year. A site chisee there for Outback Steakhouse in Taiwan, for the second store has not been announced. has agreed to open at least six California Pizza Kitchen restaurants over the next five years, according to the Los Angeles restaurant chain.  CENTRAL AREA Debt Offering: Air Lease Corp. has issued $120 million in senior unsecured notes in a pri- DOWNTOWN L.A. vate placement to institutional investors as the Burbank: A baby wearing a Disney-branded outfit. commercial aircraft leasing company continues Concert Lawsuit: A unit of Lloyds of to raise money to expand its fleet. The five-year malls. Macerich will also give General Growth near several other Kilroy properties, is 98 per- London, which insured Michael Jackson’s note sale is the first time that the company, six anchor stores, two of which are now cent occupied. comeback concerts in London two years ago which was founded by billionaire Steven vacant, in malls in Hayward, San Diego and before the singer’s death, has filed suit to nulli- Udvar-Hazy and went public in April, has three other states. fy a $17.5 million policy taken out by promoter obtained long-term unsecured financing of this CORRECTION Anschutz Entertainment Group. Cathedral type since the company was launched last year. Capital Ltd. claims in the Los Angeles Superior WEST LOS ANGELES The headline on the real estate column in Court lawsuit that an insurance policy taken out the June 6 issue incorrectly characterized to cover the cancellation or postponement of SANTA MONICA Office Purchase: Kilroy Realty Corp. Redwood Partners Inc. as a developer. It the concerts in the case of death, accident or ill- acquired two office properties in San Diego is a real estate investment company. The ness was voided by Jackson’s drug use. Mall Deal: Macerich Co. in Santa Monica and Bellevue, Wash., for nearly $250 million. company’s name also was wrong. The and General Growth Properties Inc. in The Los Angeles real estate investment trust column incorrectly said the seller was Chicago announced that Macerich will acquire said it paid about $215 million for Key Center, upgrading a portfolio of four apartment MIRACLE MILE General Growth’s stake in two Phoenix-area a 488,000-square-foot complex in Bellevue buildings, but Redwood is doing that malls and General Growth will get six anchor completed in 2001. The building is 88 percent work. Finally, the portfolio was incor- Acquisition: Variety Group, the parent of stores in four states from Macerich. Macerich occupied. In San Diego, the company acquired rectly described. It is nearly 170,000 industry trade publication Variety, has will pay about $75 million each for General 10770 Wateridge Circle, a 174,000-square- square feet. acquired entertainment research firm Growth’s one-third stake in the two Arizona foot office for $32.7 million. The building,

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JUNE 13, 2011 NEWS&ANALYSIS LOS ANGELES BUSINESS JOURNAL 5 Pacific Connection MEDIA: Forever 21 and media companies in L.A. invest in new Korean TV channels.

By HEEJIN PARK Staff Reporter Korea, but failed because of difficulty getting government approvals. ITH several big television channels Forever 21 also has been looking to grow being added to the dial in South its international presence, and plans to open a W Korea, Korean-American companies flagship store on Oxford Street, one of Lon- in Los Angeles are stepping into the picture. don’s major shopping thoroughfares, later this Most notably, a $43 million investment by year. fast-fashion giant Forever 21 Inc. has made it Ilse Metchek, president at downtown L.A. a major stakeholder in one of the new chan- apparel and textile trade group California Fash- nels, called TV Chosun. ion Association, said Chang’s latest investment What’s more, Koreatown-based media com- could help raise his profile outside of the panies Radio Korea Media Group and Tele- industry as well as inside South Korea. vision Media 24 Inc. have agreed to broadcast “If you think of all the heads of the other programming from the new channels. retail giants we have, you know their names,” The moves are part of a flurry of activity she said. “For Mr. Chang to do the same thing, RINGO H.W. CHIU/LABJ following the approval in Korea of five TV it’s a natural progression.” Plugged In: Eric S. Yoon, of Television Media 24, at his Koreatown station. channels, which are launching this year. The new channels are a result of a 2009 reform by Better exposure earnings,” said Richard Y. Choi, vice chairman their programs seen in Los Angeles. the Korean government that lifted the coun- The largest shareholder in TV Chosun is of Radio Korea. Radio Korea Media Group, which owns try’s ban on cross-ownership of newspapers the newspaper Chosun Ilbo. Forever 21 The new cable television channels are a Korean-language radio station KMPC-AM and television channels. becomes the second-largest shareholder and central part of the government’s plans to dereg- (1540), already broadcasts content provided by The involvement by L.A. companies comes Korean Air Lines Co. is the third. ulate South Korea’s media industry. The gov- Korean cable channels on its satellite station. with some risk: The new channels will be Jin Park, an analyst at Seoul investment ernment has contended that deregulation is cru- The content it uses from the new channels launched in an already cutthroat Korean TV firm Woori Investment & Securities Co., cial for the growth of the industry and the could include news, entertainment, sports and market and will compete fiercely for advertis- said the investors won’t have much say in how emergence of global players that can compete documentary programs. ing revenue. the TV channel is managed, but will get better internationally. “The new channels came into the spotlight For Forever 21, the investment is likely to exposure in the Korean market. In late 2010, the Korean government grant- in that they could be a good program provider raise the Korean profile of the company and its “The investment that companies made in ed four major newspapers – the Chosun Ilbo, for L.A.-based Korean-American media,” said co-founder Do Won Chang, who emigrated the new channels are far from having the right Joong Ang Ilbo, Dong-A Ilbo and the Maeil Choi of Radio Korea. from South Korea in 1981. Forever 21, which of management,” Park said. “But at least it Economic Daily – the rights to launch TV L.A.-based Korean-language television projects $3 billion in sales this year, may be could be helpful to improve those companies’ channels featuring news, entertainment, sports company Television Media 24, which operates big and famous in the United States, but it’s brand names, the so-called PR effect.” and documentary programming. Yonhap channels TVK and TVK2 and has more than relatively unknown in Korea where it has only Lindsay Buckley, who is in the marketing News, the state-run wire agency, won a license 15 million U.S. subscribers, has signed a mem- one store. division at Forever 21, said that “investing in to operate a news-only channel. orandum of understanding to share content The company bought its 15 percent stake in TV Chosun was a great opportunity that we are But is that too much new media too soon? with all the new cable channels. TV Chosun through Too Capital, its invest- excited to be a part of,” but declined further “Already, the advertising market is saturat- TVK and TVK2 air programming from ment arm. Alex Ok, chief executive of Forever comment. ed,” said Younghan Cho, a professor at Han- Korea as well as local original programming 21’s Korean branch, has been appointed to the Radio Korea, a Korean-language media kuk University of Foreign Studies in Seoul. produced in-house. board of TV Chosun. company on Wilshire Boulevard that oper- “New channels will face challenges with limit- “The new channels needed a global partner It’s not the first time Forever 21 has tried to ates a local radio station and TV networks on ed advertising.” to strengthen their global competitiveness and make inroads into Korea, where its record has satellite, also considered investing in the new By adding programming from the new we need (Korean) content to appeal to Korean- been mixed. In 2008, when it opened its first channels. Instead, it signed a memorandum channels, Koreatown companies Radio Korea Americans,” said Eric S. Yoon, founder and store there, the company acquired a 12 percent of understanding with two of the new chan- and Television Media 24 believe they will chief executive of Television Media 24. “It’s share of major Korean online retailer Inter- nels, TV Chosun and Channel A, to share strengthen their product. Both already use win-win to cooperate.” park Corp. through Too Investment. Its stake content. some programming originating from South fell to 4.2 percent last year. In 2007, Forever “Eventually, we withdrew because we were Korea. And the new Korean channels Staff reporters Alfred Lee and Alexa Hyland 21 tried to establish a shopping center in worried about how the new channels would get approached them with the deal in order to have contributed to this article. Boingo Shares Plummet Amid Competitive Pressure TECHNOLOGY: The company on June 7 reported a net loss based TowerStream. That company plans to New of $329,000 for the first quarter, compared Boingo Wireless Inc. (Nasdaq: WIFI) unveil a 7-square-mile coverage area in Man- Westwood THUR. CLOSE, PAST 5 WKS entrants to Wi-Fi market with a net loss of $127,000 in the first quarter 13 hattan later this month and has similar plans in last year. However, adjusted earnings were $5 CEO: David Hagan 12 Chicago and San Francisco. The larger cover- may drive down prices. million, a 19 percent increase. Employees: 135 11 age means TowerStream sells its services to 10 Boingo has two main lines of business. It Market Cap: $249 million carriers at competitive rates. By JONATHAN POLAKOFF Staff Reporter sets up hotspots in airports and the like and then 9 “Cellular carriers will offer Wi-Fi as an P/E*: 15 June 8: $7.41 8 sells Internet service directly to consumers, 7 enhanced service, and they’ll buy it from a Executives from Boingo Wireless Inc. were who may buy by the hour, although some regu- EPS: $0.50 5/5 5/12 5/19 5/26 6/2 wholesaler like TowerStream,” said Leigh. scheduled to ring the opening bell at NASDAQ lar consumers buy monthly subscriptions. That *Twelve months trailing. Source: Yahoo Finance “That will put pricing pressure on Boingo. on Monday. But last week, it was more like the represents 50 percent of its business. Its other Boingo doesn’t have the extensive network bell rang them: The Westwood-based Wi-Fi line involves selling Wi-Fi wholesale to cellular attracted to newer suppliers, one expert said. that TowerStream has.” hotspot provider was the biggest loser on the carriers, which in turn make it available to their “Increasingly the opportunity is to make Boingo didn’t return calls for this article. LABJ Stock Index, with shares falling 24 per- customers. That accounts for 45 percent. Wi-Fi a single monthly fee rolled in with the After their stop at NASDAQ Monday, cent for the one-week span ending June 8. (Advertising is the remaining 5 percent.) cellular carrier,” said Phil Leigh, founder of executives will make an investor presentation Boingo filed a much-anticipated IPO on May Mobile carriers such as Verizon and market research firm Digital Media Inc. in at Credit Suisse Software and Internet Confer- 3, beating estimates and raising $78 million, with AT&T are now providing Wi-Fi service as Tampa, Fla. ence in Boston on Wednesday followed by shares priced at $13.50. But by June 8, the stock part of their plans. Boingo could sell to such Boingo faces increased wholesale competi- The William Blair 31st Annual Growth Stock had swooned to $7.41, down 45 percent. carriers, but the carriers increasingly may be tion from new entrants like Rhode Island- Conference in Chicago Thursday. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

6 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS JUNE 13, 2011 Legislators Telling Hoteliers Which Sheets to Use Robert Amano, executive director at down- 432, which would require hotels to use fitted Century Plaza among other hotels in Los HOSPITALITY: Industry town L.A.-based Hotel Association of Los sheets and provide long-handled tools such as Angeles County, said in a statement that the bristles at misdemeanor Angeles, said the bill is based on good inten- mops so housekeepers don’t have clean bath- chain hasn’t seen any evidence that fitted tions but ill-conceived. rooms on their hands and knees. The state Sen- sheets are more comfortable for housekeepers fines for bedding choices. “The biggest concern is the micromanage- ate approved the bill two weeks ago and it is to use. ment of what’s being dictated in this legisla- currently being held in the assembly. “As a matter of fact, many of our house- By ALEXA HYLAND Staff Reporter tion,” Amano said. If it passes, the California Division of keepers have told us they prefer flat sheets He said the bill would conservatively cost Occupational Safety and Health, Cal/OSHA, because they require less effort to place on a Talk about the government getting into your hotels statewide $20 million to $50 million to would then have to adopt enforcement stan- bed,” the statement said. “And using flat sheets bed: A proposed state law would force hotels to purchase the fitted bed sheets and new equipment dards by September 2012. The new require- eliminates a step in the bed-making process.” use fitted sheets or face misdemeanor fines. for laundering the sheets. There will even be ments would be enforced during Cal/OSHA’s But Greg Hayes, communications director The hotels, not surprisingly, aren’t happy. additional labor costs: Fitted sheets are folded by normal course of inspecting hotels. If a hotel for de Leon, whose mother was a housekeeper, The hospitality industry views the bill as a hand while flat sheets are folded by a machine. knowingly violates the requirement, it would pointed to a study published in the American costly requirement that, most significantly, is L.A. County hotels would spend perhaps be considered a misdemeanor and could result Journal of Industrial Medicine and backed by another example of the government encroach- $6.5 million just on sheets if the law is passed. in a fine. Unite Here, the labor union that represents ing on their business operations. That’s assuming hotels bought five fitted Numerous L.A. area hotels declined to hospitality workers nationwide. The study But supporters of the bill argue fitted sheets sheets at about $20 each for each of their esti- comment on the bill because of concerns over showed housekeepers have the highest injury would dramatically reduce the number of mated 65,000 rooms. labor relations. rate of all hotel workers. injuries hotel housekeepers get from lifting The bill was introduced in February by Hyatt Hotels Corp., which operates the “If you look at the list of injuries these heavy mattresses. state Sen. Kevin de León (D-Los Angeles). SB Andaz West Hollywood and Hyatt Regency women often suffer from, it looks like a list of injuries of NFL players,” Hayes said. Hayes said the bill wasn’t designed to micromanage hotel operators. “We don’t want to burden these business- es,” Hayes said. “But we are saying, ‘The next Every day your people give you their very best. And with Aflac, you can give them a better time you place an inventory of sheets, make half of them fitted.’ And there should be no benefits package. If someone is sick or injured, Aflac is like a safety net: it pays your employee cash added costs to the hotel.” Your benefits should work as hard as your team does.

directly — faster than our top competitors — which helps with costs that major medical doesn’t cover. And helps let your employees know just how much they matter. Visit afl ac.com/employeebenefi ts

Hyatt Andaz: Chain objects to law.

The bill comes as the hotel industry is recovering from the recession. Occupancy rates in Los Angeles County rose to 74 percent in April, up from 70 percent the same month last year, according to the most recent data from San Francisco-based Colliers PKF Consulting USA. Three years ago the rate was 77 percent. Jim Butler, a partner and chair of the global hospitality group at Century City law firm Jef- fer Mangels Butler & Mitchell LLP, said most hotels are facing pressure to invest in items such as new carpets or wallpaper after putting off such expenses during the downturn. So adding new sheets to the budget might be challenging. Also, fitted sheets would likely have to be purchased more often because the elastic wears out quickly. “This is not a time of plenty, it is a time of scarcity,” Butler said. “The hotel industry has come out of the worst decline since people have been keeping records, but it’s not out of the bushes.” Some hotels, including several Marriott properties in the greater L.A. area, already use fitted sheets.

Bed bugs Critics of the bill said fitted sheets would make housekeepers’ jobs more difficult. That’s because when a housekeeper makes a bed, she typically lays two flat sheets and a blanket down at once and then lifts the mattress and tucks and folds the bed dressings together. But Individual coverage underwritten and offered by American Family Life Assurance Company of Columbus. In New York, coverage underwritten and offered by American Family Life with a fitted sheet, the housekeeper would Assurance Company of New York. Some policies may be available as group policies. Group coverage underwritten and offered by Continental American Insurance Company. Policies have to lift the mattress to get the sheet on all may not be available in all states. Aflac pays cash benefits direct to the insured, unless assigned. Aflac processes most claims in an average of four days. For Continental American four corners and then lift the mattress again to Insurance Company, the average is five days. put on the other dressings. Critics also note NAD1115 that housekeepers are now changing bed sheets

Please see HOSPITALITY page 43

58522_11_AFL028_PA_EmployeesMatter_ISLAND_A_CBJ_4CN_V2.indd 1 4/14/11 2:25 PM 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

JUNE 13, 2011 NEWS & ANALYSIS LOS ANGELES BUSINESS JOURNAL 7 Businesses Report New Worries, Thanks to Recession John Kelsall, chief executive of the Greater the recession. If any of these taxes and regula- nation for the drop in concern over traffic: ECONOMY: Less concern Lakewood Chamber of Commerce and a BizFed tions pass, they are telling me they will either With nearly one in eight Angelenos unem- for quality-of-life issues, board member. “There’s uncertainty about the shut down or move to another state. They sim- ployed, there are fewer cars on the road to cre- cost of ‘Obamacare,’ about the next intrusive ply don’t have the financial ability to withstand ate congestion. more for regulations, taxes. regulation that will cost more real dollars to what may be coming down from Sacramento.” One surprising finding was that more busi- implement, or the next tax or fee that will stran- Gallegos said these issues have shoved nesspeople believe that banks are stingy with By HOWARD FINE Staff Reporter gle shrinking profit margins. It’s causing compa- aside the longstanding concerns about com- credit. About 70 percent of survey respon- nies to stash away cash for the next crash.” mute times, education and water supply. dents said they believed access to credit was Before the recession, Los Angeles busi- Causing some of the uncertainty: Gov. Transportation, the top concern of business- so tight that they couldn’t get loans even nesspeople were most concerned about quali- Jerry Brown may not veto most bills calling es responding in 2007, has moved way down though most reported growing sales. That’s up ty-of-life issues such as traffic and crime. for more taxes and regulations on business, as the list, to No. 13. A big factor was the passage from 63 percent two years ago right after the But the recession has shifted their priorities. was the habit of his predecessor, Arnold of Measure R in 2008, which helped pay for financial collapse. Now their biggest concerns are taxes and regu- Schwarzenegger. major transportation projects including the Since then, banks have clamped down on loan lations, according to a new survey by the Los “At our chamber meetings, this is a huge, Expo light rail line from downtown Los Ange- requirements, rejecting many businesses seeking Angeles County Business Federation. huge issue for our members,” said Heidi Galle- les to Culver City. loans and deterring others from even trying. The annual survey of about 300 businesses gos, chief executive of the Regional Chamber “Businesses are seeing the investment com- “Banks are perfectly willing to lend to busi- in L.A. County, which was conducted during of Commerce in the San Gabriel Valley and ing into transportation, so there’s a sense that nesses that have perfect credit and are in great the first quarter, found that the top three areas also a BizFed board member. “These are the problem is being addressed,” said BizFed financial position,” Wilbur said. “It’s the busi- of concern for local businesses were taxes and small, usually family-owned businesses that Chief Executive Tracy Rafter. nesses that have been struggling, that can real- fees, government regulations and health care have just barely managed to hang on during Of course, there’s another less rosy expla- ly use the money, that can’t get loans.” costs. That’s a switch from four years ago, when the top concerns, in order, were trans- portation, crime and education. “Businesses are in survival mode right now, so anything that impacts the bottom line direct- ly is what gets their attention,” said Mark Wilbur, BizFed board chair and chief execu- tive of the Employers Group, a human resources consulting company.

You have a son in Paris, a mortgage in New York and parents in Sydney. Can your money keep up?

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RINGO H.W. CHIU/LABJ When life takes you or your family across borders, your money should seamlessly follow. HSBC Premier can help you open HSBC deposit ‘Businesses are seeing the accounts in 30 countries and territories from the U.S. and move money investment coming into online between them—securely and without fees.1 You’re at home transportation, so there’s a abroad. Now the same can be said for your money. sense that the problem is Choose from a selection of welcome gifts, including a being addressed.’ MacBook Air, when you start an HSBC Premier relationship 2 TRACY RAFTER, before July 22, 2011 with a qualifying balance. Los Angeles County Stop by your nearest branch, call 866.375.6661, or visit Business Federation, on decreasing hsbcpremierusa.com/connect to see how you can start living life without boundaries. concern over traffic and infrastructure.

The Business Federation, or BizFed, is a coalition of more than 85 local chambers of commerce, trade associations and other business groups representing more than 150,000 individ- ual businesses in Los Angeles County. It was 1Global View, Global Transfers, and international account opening are not available in all countries. Foreign currency exchange rates may apply. founded in 2008 as an intended counterweight 2Offer(s) valid when you begin a new personal Premier relationship* in the United States funded in new money from May 16, 2011 to July 22, 2011. With a minimum to the growing influence of organized labor in qualifying balance of $150,000, you qualify for the MacBook Air. Alternate gift available with a minimum qualifying balance of $100,000 or more. Offer(s) not valid for Insurance Products, which include Annuities, or for existing HSBC Premier clients regardless of what other non-Premier Accounts they have or how they are listed on local and state politics. BizFed uses the annual account titles; Online Savings Account is ineligible for gift promotion. New money is defined as funds or positions not previously held by any member of the HSBC Group survey to help form its public policy agenda. over the past six consecutive months. For qualifying customers upgrading to Premier, new money must be in addition to existing deposit and investment balances as of the Among the most disheartening findings of close of business on May 13, 2011 (“Existing Balances”). Premier relationship in the U.S. must remain open; new money and Existing Balances must remain on deposit for the survey: Even though 62 percent of those a minimum of six months or the value of gift will be deducted from account proceeds if time requirement has not been met. *To qualify for an HSBC Premier relationship, you need to open a Premier Checking account and maintain $100,000 in combined U.S. personal deposits, including Online surveyed said that their sales were growing, Savings Account, and investment balances. Business owners may use their commercial balances to qualify for a personal Premier relationship, but these balances only one-third expected to hire more employ- cannot be used to meet the new money requirements. A monthly maintenance fee of $50.00 will be incurred if minimum balance requirements are not maintained. ees. That doesn’t bode well for the county’s You have up to 90 days after account opening to meet the full $100,000 balance requirement. The Annual Percentage Yield (APY) and balance for a Premier Checking unemployment rate, which in April stood at account which is accurate as of April 18, 2011 is 0.01% APY on balances of $5.00 or more. APY is variable and subject to change after opening. Charges and fees may reduce earnings. Qualified Premier clients will be notified via mail within 90 days of account opening; notification will include instructions for redeeming gift of choice. 12.1 percent. Eligibility requirements may apply for some gift choices. Limit one gift per eligible new Premier relationship. This offer cannot be combined with any other offers or The main reasons cited for the anemic hir- promotions, is nontransferable, good while supplies last. Any gift not chosen by October 31, 2011 will be forfeited. The cost of the gift will be reported on IRS Form 1099. ing: lack of access to credit and increased Apple®, the Apple Logo and MacBook Air are registered trademarks of Apple Inc. All rights reserved. Apple is not a participant in or sponsor of this promotion. uncertainty about the prospect of more taxes, United States persons (including U.S. citizens and residents) are subject to U.S. taxation on their worldwide income and may be subject to tax and other filing obligations with respect to their U.S. and non-U.S. accounts – including, for example, Form TD F 90-22.1 (Report of Foreign Bank and Financial Accounts (“FBAR”)). U.S. persons fees and regulations. should consult a tax adviser for more information. “One of the most insidious factors facing our Deposit products offered in the U.S. by HSBC Bank USA, N.A. Member FDIC. ©2011 HSBC Bank USA, N.A. businesses today is the uncertainty factor,” said 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

8 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS JUNE 13, 2011 Gensler Goes for Gusto in Move to Downtown Digs SERVICES: Architecture firm makes statement in leaving Santa Monica. By JACQUELYN RYAN Staff Reporter

It’s the kind of architecture that makes a statement. A second floor suspended in air by steel beams, a retractable skylight, a hanging stair- case stretching through the middle of the build- ing from the ground floor to the top. Then again, Gensler doesn’t have much of a choice. The largest architectural firm in Los Ange- les – and the nation – is moving from Santa Monica into new downtown headquarters, and the wow factor needs to be sky high. “What we hope is of course our clients will come in and go ‘My goodness, this is unbe- lievable’ and then they’ll go ‘Boy, you are really good, I’d like to hire you,’” said Rob Jernigan, managing director of the San Fran- cisco firm’s L.A office. The firm, which designed the 55-story Ritz- Carlton Hotel & Residences at L.A. Live and the Creative Artists Agency headquarters in Century City, is moving out of its Santa Moni- ca home, where it’s spent the last 20 years. After receiving incentives topping $1 mil- lion from the city of Los Angeles, the firm in November signed a 12-year lease for 50,000 square feet at City National Plaza. It’s occupy- ing a three-story building at the complex, which also has two high rises including City National Bank’s headquarters. Thomas Properties Group Inc. had been seeking a primary tenant for the squat central building since acquiring the 555 S. Flower St. complex in 2003. Most of the space has been vacant for a decade, except for two restaurants, Chaya and Drago Central, which occupy part of the ground floor. Kent Handleman, senior vice president at Thomas Properties, which also has its head- quarters in the complex, said the company has been selective about the space. “We had different tenants show interest over the years, but we didn’t just want to put a tenant in to occupy space and pay rent,” he said, adding that getting a marquee architectur- al firm to build out the space made Gensler the “perfect tenant” – and one that should boost the prospects of the entire 2.65-million-square- foot office complex.

Downtown move Gensler’s move is the largest corporate relocation to downtown in years. Kor Group relocated from the Miracle Mile to downtown in 2007 but only took 48,000 square feet.

Gensler’s decision to move downtown RINGO H.W. CHIU/LABJ wasn’t all that surprising. While some com- Under Construction: Rendering of finished offices, top; Rob Jernigan, managing director of Gensler’s L.A. office, bottom. petitors are on the Westside, including DLR Group WWCOT in Santa Monica and HDK in Culver City, many are downtown. Among top floor around a central atrium. Gensler then ket that had vacancy rate of 15 percent in the the majority of which went to homelessness or them are ZGF Architects LLP and NBBJ. built another U-shaped floor under the top first quarter, according to Grubb & Ellis Co. blight.) However, after word got out about What’s more, Gensler has been doing sub- floor as well as the central staircase, allowing “Gensler is a very sexy company and for Gensler’s award, several social service groups stantial business downtown, including being employees at all the levels to see each other. them to make a commitment to downtown asked city officials to reconsider the decision. selected to design Anschutz Entertainment The renovation costs total $11.8 million, when they’ve always been in West L.A., it’s “I’m not sure how the funding decision was Group’s proposed National Football League including the structural work done by Thomas. good for the market,” he said. “Statistically, it made so I can’t speak to that. But did it strike stadium and Eli Broad’s Grand Avenue muse- The plan was derived from a workplace doesn’t do that much because they aren’t tak- us as out of the ordinary? Yes,” said Molly um, among several other projects. study that recommended the firm take steps to ing that much space. I think it’s more of an Rysman, director of external affairs for the “We are very committed to seeing down- encourage communication and collaboration in emotional boost.” Skid Row Housing Trust, which builds and town really develop over the next decade, and the workplace. Other firms that want to move downtown operates affordable housing downtown and did want to be down here to be part of it and con- “We really see this space as an innovation also may not receive all the incentives given to not receive any block grant funding. “We have vince others to be part of it,” Jernigan said. lab. We saw this as a great canvas with which Gensler. seen funding for affordable housing and Gensler had been eyeing the stone and glass to work and really create something very excit- The firm received a three-year holiday from addressing homelessness cut over the past few box space since about 2007. With 30-foot glass ing,” said Jernigan, who expects the space to the city’s gross receipts tax, which the Mayor’s years.” floor-to-ceiling panels on the first floor and a be ready for the firm’s 250 local employees in Office of Economic and Business Policy gives City officials declined to rescind the award, top floor with no windows, it was a perfect fit early November. at its discretion to companies moving into Los a decision supported by Councilwoman Jan for a bank but had little practical use for other Angeles. The value of that incentive was not Perry, who represents the area. She believes tenants. ‘Emotional boost’ immediately available. Gensler’s move will have a ripple effect. However, Gensler saw possibilities. Mark Sullivan, executive vice president of Gensler also received $1 million out of $13 “We are in the business of creating jobs and Thomas Properties agreed to gut the interior the L.A. office of Studley, which specializes in million in Community Development Block attracting businesses,” she said. “It would not and punch a hole through the second floor and tenant representation, said other companies will Grants the city set aside for economic develop- surprise me that they become a catalyst and the roof to create a large skylight and eight smaller notice Gensler’s move, though he doesn’t ment this year. (The city received $92 million leader in causing other design architecture skylights. That left the space with a U-shaped believe it will make a big dent in an office mar- in total federal block grant monies this year, planning firms to locate (here).” 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

JUNE 13, 2011 NEWS & ANALYSIS LOS ANGELES BUSINESS JOURNAL 9 K-Swiss Stumbles Over Rising Costs For Labor, Gas RETAIL: Losses mounting, but back-to-school sales may bring a turnaround. By ALEXA HYLAND Staff Reporter We’re making a K-Swiss Inc. is trying to keep up the pace with its running shoes, but it looks like it’s fac- ing an uphill climb. The stock price of the Westlake Village company has taken a trouncing, as the industry $180 million pledge. is being hit hard by rising raw material and labor costs and swelling gas and food prices. The company looked like it had real promise when it made high-profile endorse- ment deals and announced new designs last year. That may still be the case, but the results haven’t yet materialized.

‘If back to school proves to be good, they are going to have a strong 2012. If back to school is not good, To help fulfill our company’s not-for-profit it’s going to be ugly.’ SAM POSER, Sterne Agee Group Inc. mission that all Californians have access to high- quality health care at an affordable price,

K-Swiss’ stock dropped 11 percent to $9.46 we’re making an extraordinary commitment. for the week ended June 8, making it one of the top 10 losers on the LABJ index. (See page 30.) The company more than doubled its losses on rising revenue for the first quarter ended Blue Shield of California will give back net March 31, and sales of its classic white leather shoes are down. Meanwhile, it’s been heavily income that exceeds 2% of revenue to our investing in marketing campaigns to build credibility for its new performance-based customers and the community. footwear, including its Tubes shoes, endorsed by celebrity trainer Jillian Michaels, and Blade-Light running shoes, designed to shave Based on our 2010 income, we’ll give back minutes of running times.

K-Swiss Inc. (Nasdaq: KSWS) $180 million this year. Westlake Village FRI. CLOSE, PAST 5 WKS 15 CEO: Steven Nichols 14 Employees: 603 June 8: $9.46 13 Find out more at blueshieldca.com/pledge 12 Market Cap: $337 million 11 P/E: N/A 10 9 EPS: -$2.09 5/6 5/13 5/20 5/27 6/3 Source: Yahoo Finance

“The futures orders are up, they are spend- ing a lot of money on marketing and the retailers are starting to tell us they are pleased with the new product,” said Sam Poser, man- aging director at Birmingham, Ala., invest- ment banking firm Sterne Agee Group Inc., who follows the company and rates it a “buy.” “If back to school proves to be good, they are going to have a strong 2012. If back to school is not good, it’s going to be ugly.” The company reported a net loss of $9.8 mil- lion for the first quarter of 2011, compared with a net loss of $4.7 million for the same period last year. Its earnings have been sliding since the recession, with a net loss of $27.9 million for 2009 and net loss of $68.2 million for last year. But analysts still see a bright spot in K- Swiss’ future: Worldwide orders for future shipments of the company’s shoes, most signif- icantly for its running, training, tennis and street wear shoes called Palladium, are up 45 percent. Jeff Van Sinderen, a senior analyst at West L.A. investment banking firm B. Riley & Co. who follows K-Swiss and also rates it a “buy,” points to the future orders as an indication the company is on track. “Their futures orders are up dramatically,” Van Sinderen said. “And it speaks to the fact that their business will grow.” 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

10 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS JUNE 13, 2011

MEDIAWATCH

 MOVIE BOX OFFICE Weekend Gross Total Gross Rank Title (millions) (millions) Distributor 1 X-Men: First Class $55.1 $55.1 20th Century Fox 2 Hangover Part 2 31.4 185.8 Warner Bros. 3 Kung Fu Panda 23.9 100.0 Paramount 4 Pirates: On Stranger Tides 18.0 190.2 Disney 5 Bridesmaids 12.0 107.2 20th Universal 6 Thor 4.3 169.1 Paramount 7 Fast Five 3.2 202.0 Universal RINGO H.W. CHIU/LABJ 8 Midnight in Paris 2.8 6.8 Sony Paying Up 9 Something Borrowed 0.8 36.7 Warner Bros. The Port of Los Angeles is seeking refunds from carriers that took subsidies to buy new trucks but 10 Jumping the Broom 0.8 35.9 TriStar did not meet minimum trip requirements. Trucks Weekend ended June 5 Source: Bloomberg News Subsidized Not Meeting Amount  PRIMETIME TV SHOWS Company Trucks Requirement Owed Rank Program Network Rating* Swift Transportation Corp., Phoenix 591 428 $1,460,000 1 NBA Finals (Dallas vs. Miami) ABC 9.3 Meyer Trucking Inc., King City 30 26 $80,000 2 NBA Finals (Miami vs. Dallas) ABC 9.1 3 NBA Finals (Dallas vs. Miami) ABC 9.0 Central Cal Transportation, Fresno 6 4 $16,000 4 America's Got Talent (Tues.) NBC 8.9 Knight Transportation Inc., Fontana 170 1 $4,000 5 Voice NBC 8.4 Pacer Cartage, Dublin, Ohio 50 1 $4,000 Week ended June 5 *Each rating point equals 1.1 million homes. Source: Bloomberg News LMD Integrated Logistics Services Inc., Compton 8 1 $3,000  CABLE TV SHOWS Rank Program Network Rating* 1 Pawn Stars (Wed.) History 3.1 2 Pawn Stars (Mon.) History 3.1 Port Wants $1.57 Million 3 Spongebob (Sat., 10:00 a.m.) Nickelodeon 3.0 4 WWE Entertainment - WWE Raw USA 2.7 5 Spongebob (Sat., 10:30 a.m.) Nickelodeon 2.7 Back From Trucking Firms Week ended June 5 *Each rating point equals 1.1 million homes. Source: Bloomberg News TRANSPORTATION: Six comment.  TOP SELLING ALBUMS The subsidies were dispersed through the carriers hit by port for not port’s Early Action Incentive Program, which Rank Last Week Artist Title Label was approved in 2008, with the money distrib- 1 New Lady Gaga Born this Way Interscope Records making required trips. uted in January 2009. 2 New Brad Paisley This is Country Music Sony Nashville The port began electronically monitoring truck 3 1 Adele 21 Columbia By SAM BENNETT Staff Reporter activity on July 1, 2009. Initially, the port required 4 New Various Artists Glee: Season Two Soundtrack Sony 300 trips per truck annually, but when 38 carriers 5 New Various Artists Maybach Music Group: Warner Bros. For six carriers that received subsidies that received subsidies didn’t make the minimum Self Made, Vol. 1 through the Clean Truck Program at the Port of trips due to the recession, the port cut the require- Week ended June 10 Source: Billboard.com Los Angeles it’s payback time. ment in half, leaving only six carriers in violation.  MOVIE RENTALS - DVD/VHS The port has hit the companies with bills The port originally notified the carriers last totaling $1.57 million, claiming trucks bought August that electronic monitoring indicated they Rank Last Week Title Distributor with the subsidies didn’t make the required num- had failed to meet the requirement, and then 1 New I Am Number Four Disney ber of trips to the port. spent 10 months double-checking the numbers 2 1 Mechanic Sony Swift Transportation Corp., a large Phoenix against hard copy gate receipts, said port 3 New Gnomeo & Juliet Disney carrier that bought 574 subsidized trucks, has spokesman Philip Sanfield. 4 2 No Strings Attached Paramount been hit with the largest tab: $1.46 million. Other Earlier this month, the port concluded its 5 4 Roommate Sony bills to repay some of the subsidies range from review. The port is considering filing legal action if Week ended May 29 Source: Rentrak $80,000 down to $3,000. the carriers do not comply with the demands. The companies received a subsidy of up to “We’re ready to talk with our attorneys, (but) hope-  DVD SALES $20,000 per vehicle two years ago as an incentive fully we won’t need to take legal action,” he said. Rank Last Week Title Distributor Suggested Retail to buy clean diesel trucks or liquid natural gas The port is monitoring trip totals for the 2010-2011 1 New Gnomeo & Juliet Disney $29.99 trucks well ahead of a Jan. 1, 2012, deadline ban- fiscal year, but has not released preliminary totals. 2 New I Am Number Four Buena Vista 29.99 ning older diesel trucks. But there was a catch: Next door, the Port of Long Beach in 2008 3 1 Mechanic Sony 28.95 The trucks had to log a minimum number of adopted most elements of the Clean Truck Program. 4 2 Justin Bieber: Never Paramount 29.99 annual trips into the port for five years. However, it offered a different subsidy program. 5 6 Harry Potter: Deathly Hallows Warner Bros. 28.98 “If they took $20,000 from us and didn’t meet Only 203 truckers took Long Beach up on its Week ended May 29 Source: Rentrak the trip requirements, then they have to give it offer. A port spokesperson said all 203 partici- back,” said Chris Cannon, the port’s director of pants exceeded the required 150 trips in the first  MOVIELINK DOWNLOADS environmental management. “We are going to year of the program. Rank Title Distributor Suggested Retail enforce the requirements.” 1 Drive Angry Summit $15.95 The port is currently served by more than Alternative funding 2 Dilemma Universal 15.95 8,000 trucks, and the program, paid for by a spe- Sandor Lau, development director of Cascade 3 Rite Warner Bros. 15.95 cial fund, disbursed a total of $44 million for Sierra Solutions, a Eugene, Ore.-based non- 4 Green Hornet Sony 15.95 2,087 trucks operated by 56 carriers. The $20,000 profit financier, said he was not surprised by all 5 Hangover Warner Bros. 15.95 subsidy paid for a fraction of the costs of a new the complications with the Los Angeles program, Week ended June 8 Source: Cinemanow.com truck, which can exceed $150,000. nor the low participation rate in Long Beach. The carriers were required to make a total of He noted that his organization has helped fund 150 trips – with an entry and exit considered a 600 new clean trucks in Los Angeles and Long  OUTTAKE OF THE WEEK single trip – in the first fiscal year of the program, Beach. He said clients didn’t want to navigate the ADD HOCK which ended June 30. Since the program’s cost 80-plus page grant applications for subsidies, and Who isn’t awestruck by was spread out over five years, the penalty was in the case of the Long Beach lease-to-own pro- the crazy stuff – boats, several thousand dollars per truck that did not gram they couldn’t meet the lending standards. meet the minimum trip requirements. historic documents, “We lend to borrowers who might not otherwise The companies were officially notified early antique weaponry – that qualify,” he said. “Many of these truckers are His- this month the money was due and none has yet people bring into the Las panic or Latino immigrants who come from coun- to pay, according to port officials. Vegas shop on reality tries that don’t have the same credit-rating systems.” Dave Berry, vice president of Swift, said he is show “Pawn Stars”? If Josh Owen, president of Carson-based carrier still hoping discussions with the port will resolve you’ve seen the History Ability Trimodal, which services both ports, said the issue without requiring his company to make Channel’s hit, you’ll there were simply too many strings at either port the payment, but he declined to be specific. understand why it was to enroll in the subsidy programs. Instead, he “Swift values its relationship with the Port of ranked as the top cable replaced all 41 of his trucks through low-interest Los Angeles and is proud of the role it played in show in the nation. loans offered by Cascade Sierra. cleaning up the air,” he said. “We secured our own set of grants,” he said. The other carriers did not return calls for “Hardly anybody took the grants.” 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

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12 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS JUNE 13, 2011 Nintendo Does a Favor for Activision and THQ customers will buy at retail outlets. And devel- technology to consumers.” VIDEO GAMES: Wii U opers of casual games for social networking To use PortableYou’s technology, a person sites and smart phones were noticeably absent starts by uploading a photo of his or her face. gives local companies a from the event. The software then automatically generates a new console for their titles. Some event attendees said that’s a sign that digital replica of the face that the person can the industry still looks to console and computer customize with different hairstyles or acces- OS Angeles video game publishers games as their main business. sories such as glasses. That head can be Activision Blizzard Inc. and THQ Inc. “It’s still primarily a retail show,” said Mike attached to a body in social games, for exam- L have a new console to develop titles for. Hickey, an analyst with Janco Partners in Denver. ple, and played as a character in the game. Nintendo Co. stole the show at the annual “All the companies have digital revenue streams, In the future, the company could release a Electronic Entertainment Expo last week with but that’s only 10 percent of the opportunity.” mobile phone application version of Portab- the announcement of a new device, Wii U, Activision Blizzard, which has helped lead leYou that it sells direct to consumers, Gehor- which will feature a touch screen controller and the industry’s digital frontier with its massive sam said. He added that PortableYou could better graphics than were on the original Wii. multiplayer online game “World of Warcraft,” also find a market with independent game announced the week before E3 that there developers who don’t have the technology to would soon be an online subscription option create digital characters on their own. TECHNOLOGY for its popular “Call of Duty” franchise. When Image Metric’s primary business is animat- the next version of the game goes on sale at ing the heads of characters in video games NATALIE retail locations, online players will also have such as “Red Dead Redemption” and movies JARVEY the opportunity to pay a monthly subscription such as “Curious Case of Benjamin Button.” fee for access to extra content and download- able features. The company has not disclosed Video Funding how much the subscription will cost. Movieclips.com, a Venice website that Activision executives discussed the new offers video clips from more than 1,400 differ- Patrick Sweeney, a video game attorney subscription model during E3, but at the com- ent films, has raised $6 million in a recent with Reed Smith in Century City, said the pany’s booth, the biggest buzz was over the funding round. new console will present new challenges to release of game titles for traditional consoles. The company, which had previously raised publishers and game developers. There were some online game companies $3 million, was launched in 2009 by co- “It should spur some creativity on the game that showcased at E3, including El Segundo’s Photo Finish: A picture is transformed founders Zach James and Rich Raddon as a design side,” he said. “They’ll have to spend a Nexon America. Sweeney said it’s a sign that into an avatar by Image Metrics process. database and search engine for popular clips lot of time designing specifically for what the the industry is moving in a digital direction. from studio films. Movieclips.com works with Wii U system can do.” “This is a show that, five years ago, wasn’t online entertainment and social networking compa- most of the major Hollywood studios, includ- The three-day E3, June 7 to 9 at the L.A. for them at all,” he said. “The show was so nies would license and integrate into their websites. ing Universal Pictures and Warner Bros. Convention Center, featured the usual flashy retail focused and that’s obviously changed.” A digital avatar from PortableYou could Pictures, which provide the film footage. displays and costumed characters as the indus- also be used in an e-card or virtual world, but The company also released a product last try touted its latest wares. Digital Double the company hopes to find a large market for year called Movieclips Mashups that let users But if you came looking for a sign that the Image Metrics Inc., the Santa Monica com- the technology with the growing popularity of make montages of scenes from films. industry is responding to the growing trend of pany behind facial animation in numerous video games played on social networks, said Robert Lead investors of the funding round and online and mobile games, you would have had games and films, is looking to move into the Gehorsam, chief executive of Image Metrics. purpose of the financing were not disclosed. a hard time finding it. consumer market with a new technology that “The timing seemed right with everything Some traditional game companies touted lets people create virtual avatars of themselves. that’s going on in social gaming,” he said. Staff reporter Natalie Jarvey can be reached at new digital products at the expo, but the focus The company is marketing its new product, “And from a business perspective, the compa- [email protected] or at (323) was largely still on games for consoles that PortableYou, as something that developers or ny can grow faster and larger by offering its 549-5225, ext. 230.

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JUNE 13, 2011 LOS ANGELES BUSINESS JOURNAL 13

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14 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS JUNE 13, 2011 Regional Credit Union Megamerger in the Works FILING: Kinecta plans to BANKING & join forces with NuVision FINANCE for economies of scale. RICHARD INECTA Federal Credit Union of CLOUGH Manhattan Beach filed an application K with regulators last week for a pro- posed megamerger with Huntington Beach’s its first office in Nashville, Tenn., “principally NuVision Federal Credit Union. to better serve the music industry.” The combined institution would rank as the The branch, which has 12 employees, is head- 14th largest credit union in the United States. ed by entertainment banking executive Holly Bell. And as might be expected of such a deal, its The move also represents an expansion into genesis goes back some time. a fourth state for the bank, a subsidiary of City Early last year, Steve Lumm was serving as National Corp. It already has a footprint in

interim chief executive of Kinecta, which is already RINGO H.W. CHIU/LABJ New York and Nevada. the largest credit union in Los Angeles County with Ready to Merge A Kinecta Federal Credit Union branch in Manhattan Beach. $3.5 billion in assets. Helping with the search for a C-Suite News permanent replacement, Lumm began talking with ty with that combined deposits and capital base tions, Opus will have pro-forma assets of nearly $3 Kaiser Federal Financial Group Inc., the Cov- Roger Ballard, who had taken over the top spot at to do more for our members.” billion and 42 branches along the West Coast. ina holding company for Kaiser Federal Bank, NuVision in 2004, about moving to Kinecta. He said the credit union will likely expand announced that its board unanimously approved After some negotiations, the two began to its Internet presence and small-business lend- Fund Launch the appointment of Dustin Luton to the post of notice synergies between the institutions and both ing, and possibly introduce new products. The Del Rey Global Investors LLC, an asset chief executive. He will replace current CEO boards were open to the idea of a merger. “It really merger is expected to close early next year. management firm headquartered in Los Ange- Kay Hoveland following her previously- worked out in terms of timing and fit,” Ballard said. les, launched its first open-end mutual fund announced resignation July 1. Additionally, Jean The two institutions share a similar member Bank Buy this month. Carandang will replace Luton as chief financial base. Kinecta was founded in 1940 to serve A week after announcing plans to open six With its del Rey Monarch Fund, the firm officer. … Century City investment bank Imperi- employees of Hughes Aircraft, while NuVi- new branches, Opus Bank in Redondo Beach founded in September 2009 is opening its al Capital LLC announced that David Barnes sion got its start in 1935 as a credit union for has accelerated its growth plans with the acqui- investment strategy to all investors. Previously, has been hired as a managing director and head Douglas Aircraft workers. sition of a community bank. it invested only its institutional clients’ money. of the firm’s financial sponsors coverage group. Ballard began serving as CEO of both The fast-growing institution agreed to pay $50 The fund requires a minimum $2,000 … WTAS LLC, a tax advisory firm with offices credit unions last June when the merger was million to acquire Fullerton’s RMG Capital Corp. investment and will focus on undervalued non- in downtown Los Angeles, has hired Morgan agreed to by the boards and will continue in and its subsidiary, Fullerton Community Bank. U.S. securities. It will be managed by del Rey Holmes and Bill Amon as managing directors in that role for the combined credit union, which The transaction, which has been approved by each founder Paul Hechmer. the local commercial tax practice. … Analytic will retain the Kinecta name. company’s board but still requires an OK from reg- Investors Inc., an investment management firm in The transaction, which is expected to be ulators, is expected to close in the fourth quarter. Musical Range downtown Los Angeles, announced the appoint- approved, would give Kinecta roughly $4.7 The combined institution will have 13 The “bank to the stars” is now looking to ment of Adam Craig as director of consultant billion in assets, 51 branches and 300,000 branches, excluding the additional planned become the bank to biggest names in country relations and business development. members. Ballard said it would be the second Opus offices. music. largest credit union merger in U.S. history. Additionally, Opus recently received sharehold- City National Bank, the downtown L.A. Staff reporter Richard Clough can be reached “We think economies of scale do matter,” er approval for a merger with Everett, Wash.-based institution that has catered to Hollywood for at [email protected] or at (323) he said. “That’s going to give us an opportuni- Cascade Bank. After the close of both acquisi- generations, said last week that it has opened 549-5225, ext. 251. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

JUNE 13, 2011 NEWS & ANALYSIS LOS ANGELES BUSINESS JOURNAL 15 Ethnic Agency Makes Leap in Health Net Account Gorilla to help small businesses take advan- INSURANCE: Roberto Orci tage of Groupon, LivingSocial and other cites Acento experience in daily coupon sites. The strategy is to keep marketing with follow-up promotions after the general market as key. the one-day discount ends. … NMA Group, a product placement and entertainment publici- THNIC ad agencies often find they can’t ty firm in Sun Valley, is the new advertising get business outside of their narrow agency for Heineken USA. For the first time, E specialty, but Hispanic agency Acento one agency will handle all Heineken beers, Advertising made the leap last week when it which include the namesake brew and Dos won the account for Woodland Hills managed Equis, Tecate and Newcastle Brown Ale. care company Health Net Inc. NMA was formerly Norm Marshall Associ- Roberto Orci, chief executive at the West ates. … U.S. Digital Gaming, a Beverly Hills Los Angeles agency, said the most important company that has developed an online gam- ingredient for getting work outside the Hispan- Going Big: Davis Elen’s billboard campaign for Groupon jobs in Silicon Valley. bling system pending legalization, has hired ic sector was having people who have worked Pollack PR Marketing Group. USDG Chair- in other parts of the ad industry. Groupon Outdoor has spread to other billboards on the 101. man Skip Bronson said in a statement he Davis Elen Advertising found a new way Moranville said applicants have mentioned wants Pollack to “encourage discussion sur- to inject life into static billboards with its that the billboards motivated them to apply. rounding our business and help shape the ADVERTISING recent recruitment campaign for Groupon Inc. industry as it develops.” … Richard Cran &PR The Chicago-based coupon company need- Atkins Redux has joined ad agency Goodness Mfg. as ed to hire programmers for its new facility in Trailer Park, a Hollywood ad agency that director of account services. He will super- JOEL RUSSELL Palo Alto. While the campaign also included earned its reputation editing trailers for vise managers of the agency’s top accounts, contacting headhunters and placing ads with movies, is the new agency for Denver-based including Toshiba, El Pollo Loco and ING online job boards, the company wanted some Atkins Nutritionals. Direct. Previously, Cran was national direc- advertising that would establish Groupon’s Signing with Atkins is part of the agency’s tor for the Hyundai account at Innocean physical presence in Silicon Valley. It selected efforts to diversify outside of the entertainment Worldwide Americas. … This is not a typo: “Yes, we are a Hispanic market specialist, Davis Elen because of the L.A. agency’s field. Trailer Park is taking over the account at El Segundo ad agency David & Goliath won but a lot of us have experience in the general expertise in billboard placement. a good time: Actress Courtney Thorne-Smith the David and Goliath Award at the Effies on market,” said Orci, who previously worked at Using one billboard on the Bayshore (101) is spokeswoman for the brand and a book June 8 in New York City. The award recog- Procter & Gamble and Ogilvy & Mather. Freeway near San Jose, the campaign started “New Atkins for a New You” is currently on nized work on behalf of Kia Motors, which “When you are in the Hispanic market, you showing a small “G,” the icon for Groupon. the New York Times bestseller list. The Atkins the judges determined was an emerging can’t be oblivious to the total market.” Every few days, the “G” grew bigger until it website has more than 1 million members. brand competing against much larger car Steve Sell, president of the Western Region outgrew the billboard with the tagline: “Do The agency’s task is to create a campaign makers, hence the award’s name. Other Los at Health Net, said that the growing Hispanic Something Massive, Tech Jobs in Palo Alto” for a new line of shakes and nutritional bars. Angeles winners included: Deutsch LA for population in the western region of the United and included Groupon’s career website. Scott Parker, chief marketing officer at Sony Computer Entertainment, Groupo Gal- States means that it’s logical to integrate Eng- “We used a static medium and gave it some Atkins Nutritionals, said in a statement he legos for California Milk Processor Board lish-language and Hispanic advertising. movement by changing it every few days,” selected Trailer Park because of its “nimble, and Hispanic Scholarship Fund, Saatchi & “Acento’s strengths in creating a total market said David Moranville, chief creative officer at just-in-time approach to strategic development, Saatchi LA for Toyota Motor Sales and approach are a perfect fit for our direction,” he said. Davis Elen. “On that 101 corridor, you get creative and production that is perfect for mod- TBWA\Chiat\Day for the Grammy Awards The campaign will target employees at compa- commuter traffic so people see the same board erately sized, growing brands like Atkins.” and Nissan North America. nies that give them a choice between several health every day. Changing it made it fresh, and it plans including Health Net. Outreach to these con- was consistent with Groupon’s business model Agencies & Accounts Staff reporter Joel Russell can be reached at sumers will include direct mail, print, TV and of quickly changing offers.” Ad shop Adlhoch Creative in Hollywood [email protected] or at (323) online ads. The campaign will launch in the fall. Since the campaign started in late March, it has launched a new division called Merchant 549-5225, ext. 237.

Advertising Feature

Hirings, promotions and special People on the Move accomplishments in local business

REAL ESTATE STAFFING ACCOUNTING Watt Companies announced that Kforce is pleased to announce Anant Patel, partner at Green current Vice President Nadine Watt the promotion of Cary Bilstein Hasson Janks, has achieved the will step into the role of President on to Market Director of all Finance prestigious designation Certified July 1. Her appointment reflects a and Accounting operations in their Merger & Acquisition Advisor® strategic shift in direction away from Greater Los Angeles market. He (CM&AA) by the Alliance of Merger traditional property management will directly oversee Orange County, & Acquisition Advisors® (AM&AA). and leasing and towards increased Los Angeles, and the San Fernando Anant joined Green Hasson Janks activity in acquiring and developing Valley practices. Cary is a 15 year in 2000 and heads the firm’s M&A real estate assets, and pursuing Staffing Industry veteran and has services. Anant has extensive Watt entrepreneurial joint ventures. Bilstein a Degree in Marketing from Loyola Patel experience in M&A, providing Marymount University. financial due diligence consulting such as quality of earnings, working capital analysis, EBIDTA analysis and projections and deal structuring. Anant has assisted on deals ranging from $5m to $100m. TECHNOLOGY CATERING Brett Elliott was recently named Regional Vice President of the North American Applications (NAA) National Midsize sales teams in Southern Announce your California. During his 10 years with Oracle, Brett has held several sales and management positions hirings, promotions here in Southern California. He will also lead a network of resellers Elliott and channel partners, who market Fish Richards Ho and other moves. Oracle’s portfolio of business applications including Someone’s in the Kitchen expands, now offering Design Oracle eBusiness Suite, PeopleSoft, JD Edwards, Siebel, and Wedding Planning, headed up by expert planner, Hyperion, Agile, and Demantra. Cheryl Fish, VP, Design Services. SITK also welcomes Contact Rosz Murray Brett lives in Newport Beach with his wife and two young Tammie Richards, Account Manager, Business children. He earned his B.S. in Marketing from Arizona Development, whose pulse is on social media, and 323.549.5225 ext. 215 State University. Lauren Ho, Executive Assistant. "The sky’s the limit,” smiles President, Joann Roth-Oseary. www.sitk.com [email protected] 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

16 LOS ANGELES BUSINESS JOURNAL JUNE 13, 2011

Special Report Executive Compensation Rising Value of Stock Awards Lifts Exec Pay

By DEBORAH CROWE Staff Reporter ence and relationships he’s built in the industry lic company by market cap. stock holdings led the Business Journal this over the years count for a lot.” In fact, the Governance Metrics study year to add the 76-year-old Irani to its annual OR the first time in years, Occidental In the 1970s, Udvar-Hazy helped create the makes special note of the compensation list of Wealthiest Angelenos with an estimated Petroleum Corp.’s Ray Irani isn’t the aircraft leasing business with ILFC, which buys received by Iger, ranking him No. 1 on a list of net worth of $1.05 billion. Fhighest paid public company chief exec- large numbers of planes at a discount and then highest paid executives based on a formula The Business Journal calculated he utive in Los Angeles County. rents them to airlines. The company was sold to slightly different than the Business Journal received $17.6 million in total compensation The honor goes to billionaire and Air Lease insurance giant AIG for $1.3 billion in 1990. uses. It includes the realized value of stock last year, including a modest 2 percent rise in Corp. founder Steven Udvar-Hazy, according Udvar-Hazy stayed on as CEO, but left last year options and executives’ retirement packages. base salary to $1.2 million, a performance- to the Business Journal’s annual survey of pub- after a protracted battle over federal compensation “Last year was a post-recession recovery based stock award valued at $11 million and a lic company chief execu- restrictions ILFC had to year for pay packages, and you really see that $3.7 million cash bonus. tive compensation. endure after the govern- with Robert Iger,” Hodgson said. (It excludes a $29.5 million cash payout The 65-year-old avia- FATTEST PAYCHECKS ment bailed out AIG dur- The Business Journal ranks executives by that Irani received as part of a 2007 “return-on- tion industry veteran last 1. Steven ing the financial crisis. total company compensation, which includes equity” incentive since abandoned by the com- year left International Udvar-Hazy, Irani salary, bonuses, stock and option grants, and pany. The Business Journal’s method for cal- Lease Finance Corp., Udvar-Hazy and the others did not any additional perks, drawing from publicly culating his 2010 compensation is consistent the aircraft leasing com- Air Lease Corp. comment to the Business available data taken from companies’ Securi- with that of the Wall Street Journal but differs pany that he co-founded Journal about their com- ties and Exchange Commission filings. (See from the Los Angeles Times, which included nearly four decades ago. Compensation: pensation. the list on the following page.) the payout and named Irani the state’s highest In less than a year at his $57.8 million Another new face on Rounding out the top five on the Business paid corporate executive last year.) nearly identical business, Billionaire tops the Business Journal’s list Journal’s list is another newcomer who likely Irani’s compensation has made him a he took home total com- charts after scoring also came by way of an won’t return next year because he is moving favorite whipping boy for critics of excess pensation of more than big with IPO. IPO. Richard Rosenblatt, his company’s corporate headquarters out of executive pay, and Oxy shareholders dealt sig- $57.7 million, according to who took Santa Monica state this summer. nificant rebuke to management last year when regulatory filings. Internet media online Northrop Grumman Corp.’s Wes Bush they voted against the company’s executive He was not the only 2. Michael content publisher took home $22.8 million, including a $3 mil- compensation packages during a “say on pay” one to do well. Chief White Demand Media Inc. lion cash bonus and more than $15 million in advisory vote. That vote even came before executives at Los Angeles DirecTV public in January, took stock and options awards. That’s a 27 percent Congress made provision for such votes as part County’s 50 largest com- home more than $27 mil- increase from 2009, when Bush was still the of last year’s Dodd–Frank Wall Street Reform panies – hit hard for two Compensation: lion in total compensation Los Angeles defense contractor’s chief oper- and Consumer Protection Act. consecutive years as the $32.9 million last year, including ating officer. Following the vote and discussions with the economy slowly pulled Former PepsiCo roughly $25 million in Northrop is moving to suburban Washington company’s board, Irani agreed to retire as chief out of the recession – exec gets hefty raise stock option awards. to be closer to its federal government clients, a executive last month but will continue as exec- began getting it back in in media industry. Though Rosenblatt’s decision made by Bush after taking over from utive chairman until the end of 2014. 2010. Cumulative pay for total compensation is longtime CEO Ron Sugar in January 2010. Hodgson said that the board has worked hard the group jumped 41 per- 3. Robert Iger half that of Udvar- to counter the negative publicity of Irani’s past cent to $445 million, Hazy’s, the 41-year-old End of era huge paydays, stressing the performance-based according to the Business Walt Disney Co. Woodland Hills native Irani had been king of the list for five years metrics in its current compensation formula. His Journal’s survey. came in at No. 4 on the running. His pay reached its height in 2007 successor as CEO, former chief operating offi- Compensation: It’s a trend seen Business Journal’s list. when he received $77 million, primarily from cer Stephen Chazen, is unlikely to achieve pay $29.6 million nationwide, according to The entrepreneur has the value of stock and options awards. His total even close to the heights of his former boss. Paul Hodgson, senior Rewarded for built, operated, and sold compensation has since gradually declined, “Occidental clearly knew that they had to research associate at New “excellent manage- roughly $1.3 billion in reaching $31 million during the 2009 recession be careful on pay this year because they lost York-based Governance ment” in tough year Internet media compa- that slammed the energy industry. But his their ‘say-on-pay’ vote last year,” he said. “It’s Metrics International, for entertainment. nies over the years. accumulation of cash and the value of Oxy an end of an era.” which last week released His latest venture its own preliminary operates a variety of spe- analysis of executive compensation at roughly cial interest informational websites, with con- Alternate Ranking 750 companies that had filed proxies by the tent provided by freelancers. He’s also struck Top earners by value of realized stock awards added to total company compensation. (in millions) end of April. deals with celebrities such as cook Rachael Total Company Options/Stock Both the national and Business Journal stud- Ray and supermodel Tyra Banks to develop Excecutive Aggregate Compensation Vested ies indicate that companies are continuing to their own specialty channels on its flagship Robert A. Iger Walt Disney Co. $66.7 $29.6 $37.1 implement and refine performance-based pay eHow site. policies but also are turning back to some tried- Rosenblatt was among several media Steven Udvar-Hazy Air Lease Corp. 57.8 57.8 0.0 and-true incentives popular before the recession. industry executives pulling in the county’s Paul Marciano Guess Inc. 34.9 15.4 19.5 “There’s been a return (this year) to cash largest pay packages. Michael White DirecTV 32.9 32.9 0.0 bonuses as well as stock awards, which with No. 2 on the Journal’s list is Michael White, the markets’ recovery are worth something who in late 2009 left PepsiCo to take over as Michael O. Johnson Herbalife Ltd. 32.7 8.6 24.1 now,” Hodgson said. chief executive of El Segundo’s satellite TV Richard M. Rosenblatt Demand Media Inc. 29.9 27.1 2.8 giant DirecTV. He took home $32.9 million. Ray R. Irani Occidental Petroleum Corp. 28.9 17.6 11.2 Star power Following White is Disney’s Robert Iger, Wesley Bush Northrop Grumman Corp. 27.1 22.8 4.2 That Udvar-Hazy, who ranked No. 18 on who took over from Michael Eisner in 2005. the Business Journal’s list of Wealthiest Ange- He took home total compensation of $29.6 Robert A. Eckert Mattel Inc. 23.5 11.4 12.1 lenos in May with an estimated net worth of million to rank No. 3. Like Udvar-Hazy and Kevin W. Sharer Amgen Inc. 22.2 21.1 1.1 $2.4 billion, is being handsomely compensated White, the bulk of his 2010 pay package came Michael Rapino Live Nation Entertainment Inc. 19.5 15.9 3.6 isn’t surprising to some Wall Street analysts. from bonuses, stock and options awards. Air Lease raised $803 million through its April About 90 percent of Iger's annual compen- Brett White CB Richard Ellis Group Inc. 15.0 11.5 3.5 initial public offering. sation is linked to the company's performance. Jordan L. Kaplan Douglas Emmett Inc. 14.8 9.9 4.9 Udvar-Hazy’s pay package – with a rela- Iger was rewarded for "excellent management John M. Dionisio Aecom Technology Corp. 14.4 9.4 5.0 tively modest $1.6 million base salary plumped of the company in a difficult economic envi- Russell Goldsmith City National Bank 13.8 9.2 4.6 by bonuses, stock and options awards – far ronment," according to a regulatory filing. outpaced other local executives on the list. Though dropping from his No. 2 slot last James F. Flaherty III Health Care Property Investors Inc. 13.6 8.0 5.7 “There’s a value premium on the stock from year, Iger’s pay package is notable for includ- Joel S. Marcus Alexandria Real Estate Equities Inc. 13.6 8.5 5.1 just having Steven at the company,” said equity ing the highest base salary – $2 million – on John B. Kilroy Jr. Kilroy Realty Corp. 13.5 6.4 7.1 analyst Arren Cyganovich of Evercore Partners, the Business Journal’s list. While that’s actual- who expects Air Lease shares to gain 30 percent ly 28 percent less than 2009, the pay cut was Arthur M. Coppola Macerich Co. 13.5 9.0 4.5 over the next 12 months. “He brought along more than made up by the nearly $13.5 million Ronald L. Havner Jr. Public Storage 12.4 2.0 10.3 enough people from ILFC to provide a pretty performance-based cash bonus he received Source: Business Journal research; SEC filings deep bench at Air Lease, but his savvy, experi- from Disney, the county’s second largest pub- 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

JUNE 13, 2011 LOS ANGELES BUSINESS JOURNAL 17

X NEXT WEEK The 20 Largest Foreign Companies CHIEF EXECUTIVE COMPENSATION with U.S. Foreign headquarters in THE LIST Ranked by 2010 total company compensation (all figures in thousands)* Los Angeles County

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18 LOS ANGELES BUSINESS JOURNAL THE LIST JUNE 13, 2011

Continued from page 17

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JUNE 13, 2011 LOS ANGELES BUSINESS JOURNAL 19

SHELLEY BOVERO Owner of Marin County Arborists

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TO GET THE BEST TECHNOLOGY FOR YOUR BUSINESS, 1.800.VZW.4BIZ(4249) SEE A SMALL BUSINESS SPECIALIST AT A VERIZON STORE TODAY. verizonwireless.com/smallbusiness Activation fee/line: $35. IMPORTANT CONSUMER INFORMATION: Subject to Cust. Agmt, Data, rebate form & credit approval. Up to $350 early termination fee/line & add’l charges apply. Offers & coverage, varying by svc, not available everywhere; see vzw.com. Limited-time offer. Restocking fee may apply. Rebate debit card takes up to 6 weeks & expires in 12 months. DROID is a trademark of Lucasfilm Ltd. and its related companies. Used under license. 4G LTE is available in 55 metros & 70 major airports in the U.S.; coverage maps at vzw.com. LTE is a trademark of ETSI. In CA: Sales tax based on full retail price of device. In AZ: $35 restocking fee applies to device returns/exchanges. © 2011 Verizon Wireless. D7076 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

20 LOS ANGELES BUSINESS JOURNAL DATA BANK JUNE 13, 2011

 CONVENTIONS Business Mixer  CALENDAR Sponsor: Long Beach Area Chamber of Commerce Sunday, June 26 5:30 p.m. Casino Night • Dwell on Design Tuesday, June 14 Shoreline Yacht Club Sponsor: Beverly Hills Bar Association, June 24-26 386 Shoreline Drive South, Long Beach Barristers www.DwellonDesign.com Government Subcontracting $10 (RSVP required) 5 p.m. Sponsor: Federal Technology Center (562) 436-1251 Sofitel 9 a.m. 8555 Beverly Blvd., Los Angeles Anime Expo Greater Lakewood Chamber of Commerce • Wednesday, June 22 $95 July 1-4 24 Lakewood Center Mall (Next to See’s Candy) (310) 601-2422 Free Business Plan Workshop www.Anime-Expo.org Sponsor: Beverly Hills Chamber of Commerce (866) 382-7822 Tuesday, June 28 8:30 a.m. California Gift Show Wells Fargo Speed Networking • July 22-25 Wednesday, June 15 433 N. Camden Drive, Beverly Hills Sponsor: Santa Monica Chamber of Commerce Business Mixer $25 5:30 p.m. (800) 526-2784 Sponsor: Santa Monica Chamber of Commerce (310) 248-1000 Milken Institute 5:30 p.m. 1250 Fourth St., Santa Monica • Adultcon Buca di Beppo Santa Monica State of the City $25 July 29-31 1442 Second St. Sponsor: West Hollywood Chamber of Commerce (310) 393-9825 $15 Noon (310) 859-6900 (310) 393-9825 Plummer Park, Fiesta Hall Business Mixer 7377 Santa Monica Blvd., West Hollywood Sponsor: Sherman Oaks Chamber of Commerce • BrideWorld Expo Thursday, June 16 $75 5:30 p.m. July 30-31 (323) 650-2688 Mad Bulls’ Tavern (800) 600-7080 Foreclosure Workshop 14649 Ventura Blvd., Sherman Oaks Sponsor: California Foreclosure Institute All About Business Loans $15 6 p.m. Sponsor: VEDC (818) 906-1951 • Modern Living Expo Torrance Library 4 p.m. Aug. 6-7 3301 Torrance Blvd. Northridge Valley Regional Chamber of Commerce Foreclosure Workshop (626) 274-9666 Free 9401 Reseda Blvd., Northridge Sponsor: California Foreclosure Institute (310) 379-0101 Free 5:30 p.m. (818) 907-9922 Norwalk Library • West Coast Expo Saturday, June 18 12350 Imperial Highway Aug. 12-14 Free Business Survival After Hours Mixer (323) 905-1306 Sponsor: Alhambra Chamber of Commerce (310) 379-0101 Sponsor: VEDC 5 p.m. 9 a.m. State Farm • Exxxotica Expo 5121 Van Nuys Blvd., Van Nuys Wednesday, June 29 1226 E. Main St., Alhambra Aug. 26-28 Free $15 Networking Breakfast (215) 462-8800 (818) 907-9922 (626) 282-8481 Sponsor: Greater San Fernando Valley Chamber of Commerce Senior Clean Air Fair Tuesday, June 21 Entrepreneurship 7:15 a.m. • Sept. 15 L.A. Economic Forecast Sponsor: National Society of Hispanic MBAs Braemar Country Club Sponsor: Beacon Economics 6:30 p.m. 4001 Reseda Blvd., Tarzana (909) 396-2221 8 a.m. Los Angeles Athletic Club $35 Westin Bonaventure Hotel 431 W. Seventh St., downtown Los Angeles (818) 989-0300 Wizard World Comic Con $15 • 404 S. Figueroa St., downtown Los Angeles Sept. 24-25 $175 (877) 467-4622 (646) 380-2475 (310) 571-3399 To be considered for publication, Calendar listings Saturday, June 25 should be submitted at least three weeks in advance Job Search Access to Capital Expo of the event. Listings can be submitted by e-mail to • Fall Home and Garden Show Sponsor: Challenger Networking Group Sponsor: VEDC [email protected] or by mail to: Sept. 30 Noon 8 a.m. Los Angeles Business Journal (800) 999-5400 Zen Buffet Sheraton L.A. Downtown Hotel 21610 Victory Blvd., Woodland Hills 711 S. Hope St. Calendar $11 lunch $10 5700 Wilshire Blvd. #170 (818) 992-4270 (818) 907-9922 Los Angeles, CA 90036 L.A. Convention Center, (213) 741-1151, ext. 5340

Doc# LA11-30162-PC Doc# LA11-30272-BB 767 Monterey Pass Road Doc# LA11-30507-RN  BANKRUPTCIES File-Date: 05/09/11 File-Date: 05/10/11 Monterey Park 91754 File-Date: 05/11/11 Mark S. Horoupian Pro-per. Chapter: 7 Eric D. Goldberg 4415 Dundee Drive LLC 213-626-2311 Assets: N/A 310-228-5760 FDBA: Byrd Homes LLC; Docor Inc. Debts: N/A Richard Byrd Development Truck Terminals Plus LLC (Single-asset real estate) Doc# LA11-30496-RN Meloling Corp. (Single-asset real estate) (Business type N/A) 4253 Eagle Rock Blvd., Suite #C File-Date: 05/11/11 DBA: Sanrio Surprises; 4415 Dundee Drive 14769 San Bernardino Ave. L.A. 90065 Eric D. Goldberg Mrs. Field’s Cookies L.A. 90027 Fontana 92335 Chapter: 11 310-228-5760 (Business type N/A) 18571 E. Nottingham Lane Chapter: 7 Chapter: 7 Assets: N/A Rowland Heights 91748 Assets: N/A Assets: N/A Debts: N/A International Management Services Debts: N/A Chapter: 7 Debts: N/A Doc# LA11-30423-RN Group Inc. Doc# RS11-25342-CB Assets: N/A Doc# LA11-30077-EC File-Date: 05/10/11 (Business type N/A) File-Date: 05/09/11 Debts: N/A File-Date: 05/08/11 767 Monterey Pass Road Victor Saldana Blake Lindemann Doc# LA11-30576-PC Matthew Abbasi 310-279-5269 Monterey Park 91754 818-888-6614 626-962-2268 File-Date: 05/11/11 Chapter: 7 Sam X.J. Wu Assets: N/A 4108 Marathon Street LLC; Star Corp. I SMB Group Inc. 909-396-4642 Debts: N/A 626 Partners LLC (Investment) DBA: Union Trim Inc. (Single-asset real estate) 5405 Lindley Ave., Suite #207 (Clothing industry) Doc# LA11-30504-RN MW Co. Corp. 120 El Camino Drive, #204 Tarzana 91356 2635 S. Main St., #A File-Date: 05/11/11 DBA: Men at Work Landscaping Beverly Hills 90212 Chapter: 7 L.A. 90007 Eric D. Goldberg (Business type N/A) Chapter: 11 Assets: N/A Chapter: 11 310-228-5760 609 Meyer Lane Assets: N/A Debts: N/A Assets: 0 Redondo Beach 90278 Debts: N/A Doc# SV11-15718-VK Debts: $1,319,100 United States Aluminum of Canada Ltd. Chapter: 7 Doc# LA11-30079-BB File-Date: 05/09/11 Doc# LA11-30426-SK (Business type N/A) Assets: $300 File-Date: 05/09/11 Lynne Romano File-Date: 05/10/11 767 Monterey Pass Road Debts: $236,981 Pro-per. 626-552-0270 David A. Tilem Monterey Park 91754 Doc# LA11-30609-BB File-Date: 05/11/11 818-507-6000 Chapter: 7 Direct Money Source Inc. Niteowl Communications Assets: N/A Aleksey Katmissky 323-944-0015 (Single-asset real estate) (Business type N/A) International Architectural Group LLC Debts: N/A 3470 Wilshire Blvd., #640 7308 Haskell Ave. AKA: International Aluminum Corp. L.A. 90010 Van Nuys 91406 (Aluminum/vinyl building products) Chapter: 7 Chapter: 7 767 Monterey Pass Road Bankruptcy information is supplied by Timely Info of Los Angeles, Jack Vaughn (323) 664-4423. Assets: N/A Chapter 7: a “straight” liquidation bankruptcy involving an appointed trustee to sell all assets by Assets: $4,120,583 Monterey Park 91754 Debts: N/A auction or other means to pay creditors and trustee fees. Debts: $9,927,000 Chapter: 7 Doc# LA11-30120-BR Doc# SV11-15732-MT Chapter 11: a process which allows a business to gain temporary relief from paying debt in order to Assets: N/A File-Date: 05/09/11 File-Date: 05/09/11 attempt a successful reorganization. The debtor remains in control of the business during the bank- Chima A. Anyanwu Christopher L. Hoglin Debts: N/A ruptcy and the business continues to function. 213-385-8288 626-309-9977 Doc# LA11-30486-RN Chapter 13: a bankruptcy plan available to individuals whose “income is sufficiently stable and reg- File-Date: 05/11/11 ular to enable such individual to make payments under a plan.” The debtor makes payments to a Wolf Mountain Resorts M & J Development Group LLC Eric D. Goldberg trustee who disburses the funds to creditors. (Business type N/A) (Business type N/A) 310-228-5760 Involuntary bankruptcy: the debtor is forced into bankruptcy by secured creditors whose claims 1847 Camino Palmero St. 26893 Bouquet Canyon Road, #C total at least $220,000. Involuntary bankruptcy may be filed under Chapter 7 or 11. L.A. 90046 Santa Clarita 91350 International Architectural Products Inc. AKA: also known as FKA: formerly known as Chapter: 11 Chapter: 7 AKA: International Window-Northern CA; DBA: doing business as FAW: formerly associated with Assets: N/A Assets: N/A United States Aluminum Corp. FDBA: formerly doing business as Debts: N/A Debts: N/A (Architectural products) 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

June 13, 2011 • An Advertising Supplement to the Los Angeles Business Journal

Cancer Awareness

PRODUCED IN PARTNERSHIP WITH

This special advertising supplement did not involve the reporting or editing staff of the Los Angeles Business Journal. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

22 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL JUNE 13, 2011

CANCER AWARENESS A Celebration of Partnership

By DAVID F. VENEZIANO ing awareness of the many ways we at the forefront of local corporate stew- can all stay well, get well, find cures, ardship and has made a commitment to ORKING to improve the health and fight back against cancer. increasing the Society’s presence within and wellness of workplaces Whether it’s sponsoring a Society the business community. Whas the potential to save near- program as FedEx does in helping dis- “The heart and soul of the American ly $17 billion in annual productivity lost tribute thousands of daffodils to area Cancer Society lies in the legion of vol- to cancer-related illness in the United cancer patients, or a group of col- unteers whose time, energy and endless States. As employers strive to meet the leagues from CNA Insurance in a local dedication create a world with less can- American Cancer needs of employees and their families Making Strides Against Breast Cancer cer and more birthdays,” Levin says. “It during a life-altering time, the American walk, corporate service to individuals is the dedication of those volunteers Society Free Programs Cancer Society is fighting cancer is invaluable. It’s often and our community leaders which will & Services there to help, pro- by attending an American Cancer Soci- help to fund research, services and pro- viding a network of ety event that many people first experi- vide free programs for all of those who OUNDED in 1913, the Society is the support. Caregivers, ence the passion and the values of the have been touched by cancer.” Fmost experienced and largest non- family members, Society, and come to understand the The American Cancer Society pro- profit cancer-fighting organization in the friends and co- sweeping reach we have from funding vides a framework for progress in the world. Nearly three million Society volun- workers that cancer promising cancer researchers early in movement to end cancer by fostering teers across the nation work to conquer survivors often rely their careers, to providing free pro- interaction between the community at cancer and create a world with more upon to get through grams and services to cancer patients large and business professionals. Armed birthdays, by helping provide free pro- their journey, are all right here in our community. with knowledge and the tools to reduce grams and services to cancer patients across the nation. David F. Veneziano part of a larger Daniel R. Levin, CFP, Director – cancer incidence and mortality, we movement to create Investment, Oppenheimer & Co. Inc., is believe we can make a tremendous dif- The organization and its volunteers a world with less cancer and more birth- a longtime Society volunteer and mem- ference in the lives of countless people, offer emotional support and practical days. A movement of more than ber of the Society’s Los Angeles Region but we need help getting the word out help to patients, their families, their care- 300,000 California volunteers working Partnership Council. The group uses about how more than one million Cali- givers and their community from the in partnership to eliminate cancer as a their personal and professional experi- fornia cancer survivors will celebrate a time of diagnosis and throughout the major health concern. ence, expertise, and influence in the birthday this year. entire cancer process. Just some of Likewise, the Society couldn’t local fight against cancer. In addition to Everyone knows how special a sim- these FREE services include: accomplish its lifesaving work without a variety of networking opportunities ple thing like a birthday can be. It’s a the dedication of committed support- and involvement in worthwhile events celebration of life and a marker of Free Information: Information about ers and volunteers from the Los Ange- such as the Society’s annual corporate progress. Join us as we make happy cancer is available 24 hours a day, 7 les business community. The evolving golf event, the Southern California Invita- birthday a true victory song. For more days a week at 1.800.227.2345 and role of businesses in the health and tional, members enjoy the satisfaction of information for your business or cancer.org. Trained professionals are wellbeing of employees and communi- knowing that they are helping to make a employees call us at 1.800.227.2345 or available to speak with you. ties is an important one, as innovative difference in the lives of cancer patients visit cancer.org. business leaders help improve the and their families in the Los Angeles area Employer Initiative Workplace Solu- health of their teams, organizations, and beyond. As co-chair of the Invitation- David F. Veneziano is CEO of the Ameri- tions: Programs customized to fit the and surrounding communities by rais- al for a number of years, Levin has been can Cancer Society California Division, Inc. specific needs of and have a positive impact on a company’s bottom line.

Road to Recovery: Volunteers drive can- cer patients to and from their medical appointments. Local volunteer drivers Volunteer Leader Finds Joy in Giving are needed for this program.

By BRIAN WENKE that bell stops ringing. The biggest mis- conception about volunteering is that OUNDED by 15 concerned physi- it’s work. It’s actually a very rewarding cians and business leaders in process. I always tell people to get F 1913, the American Cancer Soci- involved, find a cause. Whether you ety has evolved into a major interna- give $100 or your time, it will be tional grassroots organization with extremely fulfilling. If you don’t try it, nearly 3 million volunteers nation- you’ll never know. Setting goals, striv- wide, working to eradicate cancer as a ing to reach them and meeting them – major health threat. In California what else can anyone hope for?” alone, nearly 300,000 volunteers band Motivated by his daughter’s together to raise money, deliver patient melanoma diagnosis several years ago, Road to Recovery volunteers help drive services, and support advocacy efforts Segal has worked tirelessly to create a patients to appointments. to ensure the Society remains at the world with more birthdays – an effort forefront of the fight against cancer. that will undoubtedly help to save the Cancer Survivors Network: American All American Cancer Society volun- lives of cancer patients in California Cancer Society volunteers and staff assist teers have unique stories that fuel their and across the country. cancer patients, their families, caregivers enthusiasm for donating the precious For more information on how you and the public with information, guidance commodity that is their time, and can help Californians get well, stay and referrals to community services. every volunteer is critical to the success well, find cures, and fight back, please of this organization. Occasionally, indi- visit us on the web at www.cancer.org Look Good . . . Feel Better: A workshop viduals will step up to establish them- or call 1.800.227.2345. which helps women who are undergoing selves as organizational leaders. Mickey Mickey Segal cancer treatment to deal with appearance- Segal, a recently elected member of the Brian Wenke is with the American Cancer related side effects of their treatment Society’s California Division Board of six-year involvement with the Society’s Society. through the use of make-up, skin care, Directors, exemplifies of the value of Southern California Invitational Golf wigs and scarves. Workshops are given by volunteerism. Tournament and has donated count- trained, volunteer cosmetologists. An accountant by profession, Segal less hours as a member of the Los Volunteer Facts is the managing partner of Nigro Karlin Angeles Partnership Council. Reach To Recovery: A one to one sup- Segal & Feldstein, LLP in Los Angeles. A When asked why he volunteers for According to a 2007 extract released by the port program for women or men facing 2010 recipient of the Association of the Society, he simply replies, “I have a Corporation for National and Community or living with breast cancer. Reach to Fundraising Professionals’ Spirit of Phil- bell that rings in my head. It says, ‘You Service, those who volunteer have lower Recovery volunteers are breast cancer anthropy Award, Segal has donated his have been successful and giving back is mortality rates, greater functional ability, survivors who are trained by the Ameri- time, talent and financial resources to a part of that success.’ I may over and lower rates of depression later in life can Cancer Society. many charities. He has helped raise extend myself with my volunteer activ- than those who do not volunteer. nearly one million dollars through his ities, but I will continue to do so until 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

JUNE 13, 2011 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL 23 2-Page Spread N and providetransportationforthou- Ground helpcoordinatethelogistics ly campaign,theyagreedtohaveFedEx provide additionalsupportfortheyear- Home OfficeinAtlantaaskedFedExto American CancerSociety’sNational Days forroughly14yearsandwhenthe American CancerSocietyandDaffodil annual DaffodilDayscampaign. as partoftheAmericanCancerSociety’s area businesses,hospitals,andschools thousands ofdaffodilstoLosAngeles form oftakingtothestreetsdeliver supporter FedEx,helpcomesinthe 24 FedEx GroundDeliversonDaffodilDays CANCER AWARENESS also call1-800-227-2345. by visitingcancer.org/donate.Youcan You canmakeasecuredonationonline be madeanumberofdifferentways. Your one-timeorrepeateddonationcan can CancerSocietywillhelpsavelives. memory, yourcontributiontotheAmeri- mark yourgifttocelebratealovedone’s donation, acompanyorear- Whether you’dliketomakeapersonal Make aDonation –How to Difference DollarMakesEvery a FedEx hasbeencommittedtothe Single AN ADVERTISINGSUPPLEMENTTOTHELOSANGELESBUSINESSJOURNAL OT case ofAmericanCancerSociety form ofcashoracheck.Inthe every donationcomesinthe Page View corporate CEOscansendabouquetof life. Everyonefromschoolchildrento never stealsanotheryearfromanyone’s cancer andmorebirthdays,where tunity tosharehopeforaworldwithless just givingbeautifulflowers.It’sanoppor- their contributions,isaboutmorethan donors everyspringinappreciationfor which involvesofferingdaffodilsto the stateofCalifornia. sands ofdaffodildeliveriesthroughout The Society’sDaffodilDaysprogram,

‹  $PHULFDQ &DQFHU 6RFLHW\ ,QF Thumbnails | LABJ User Guide | around theclocktoguidethemthrough ing themgetwellbybeingintheircorner giver’s knowledgethattheSocietyishelp- tionship, ensuringthepatient’sandcare- brighten apatient’sdayandfostersrela- community. TheGiftofHopehelps mously tocancerpatientswithinthe fodil stemsinavase,deliveredanony- the GiftofHope–abouquet10daf- support thefightagainstcancer. fresh-cut daffodilstosomeonespecial Front An importantpartofDaffodilDaysis Page UDHDZUGZW HVFQH Q RHELUWKGD\V PRUH PRUHELUWKGD\VFRP DQG 9LVLW FDQFHU OHVV ZLOO ZLWK ZH ZRUOG 7RJHWKHU D EDFN FUHDWH ILJKW FXUHVDQG ILQG ZHOO JHW ZHOO EXVLQHVVHV VDOXWH :H ZKRKDYHGHPRQVWUDWHGWKHLUVXSSRUWWRKHOSSHRSOHVWD\ VHFWRUV DOO FDQFHU IURP HYHU\ FROODERUDWLRQ E\ UHTXLUHV WKUHDWHQHG ELUWKGD\ HYHU\ IRU ILJKW 7KH | Table of Contents communities worldwidetojointhefight. to passlawsdefeatcancerandbyrallying and byfightingbackrallyinglawmakers investment ingroundbreakingdiscovery; cancer diagnosis;byfindingcuresthrough being thereforthemduringandaftera ing itearly;helpingpeoplegetwellby ple staywellbypreventingcancerordetect- and servicesthatsavelivesbyhelpingpeo- enable theSocietytoofferfreeprograms every stepoftheircancerexperience. Dollars raisedthroughDaffodilDays Previous Page Zoom JUNE 13,2011 In Zoom Out Next Page 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

JUNE 13, 2011 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL 25 CONGRATULATIONS 2011 WINNERS MAKING AN IMPACT IN THE FIGHT AGAINST CANCER

The Leukemia & Lymphoma Society congratulates this year’s Man & Woman of the Year winners and all of the candidates who competed for the title. Your efforts and commitment to finding cures for blood cancers have brought help and hope to thousands of patients and their loved ones.

Kyle Garlett Author & Motivational Speaker Mindy Sterling Actress with 2011 Girl of the Year, Celeste Garcia with 2011 Boy of the Year, Logan Nobriga

For more information or to get involved, please visit www.mwoy.org/los or contact Breeana Garrett at [email protected] or call 310.846.4706 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

26 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL JUNE 13, 2011

CANCER AWARENESS Celebrate More Birthdays

HE Official Sponsor Of Birthdays All of us at the American with more birthdays and means to you and get a birthday sword campaign asks you to imagine a Cancer Society are committed support the fight against to share on your social networks. Tworld with more birthdays and to a world where we’re saving cancer by visiting • Create your own birthday page to dedi- highlights all of the ways the American thousands of birthdays from morebirthdays.com: cate your birthday to fighting cancer. Cancer Society saves lives – by helping cancer every day and beyond. • Browse our birthday gallery • Create a birthday dance using a photo people stay well through taking steps to Celebrities, famous artists and to see the artists and musi- and selecting birthday props and dance prevent cancer or detect it early; help- musicians, inspired by our cians who have come togeth- styles to spread the word about the ing people get well by guiding them work and the way cancer has er to fight back against cancer. movement. through every step of the cancer experi- touched their lives, are donat- • Choose a musician to • Keep up with news and events through ence; by finding cures through funding ing their talent and creative energies to sing “Happy Birthday” to someone you a revamped more birthdays blog. and conducting groundbreaking strengthen the movement. care about, or use art to send a memo- research; and by fighting back by Their voices, combined with yours, rable birthday greeting. Together we will save lives and help encouraging lawmakers to do their part will help create more birthdays, save • Buy wrapping paper and posters using more than 1 million California cancer to defeat cancer and by rallying com- more lives, and inspire everyone to take art inspired by the fight against cancer. survivors celebrate another birthday munities to join the fight. action in the fight. Celebrate a world • Tell everyone what “more birthdays” this year!

Discover, Shop, Fight Cancer!

MERICAN Cancer Society Discovery Shops throughout the area help Asupport the fight against cancer through the sale of high quality, gently used, donated merchandise. They fea- ture items such as clothing, accessories, jewelry, furniture, artwork, antiques, collectibles, and other household items. City of Hope salutes “These stores provide a truly unique venue that combines shopping with philanthropy,” said Lisa Tempel, vice president of Discovery Shops in Califor- nia. “For more than 45 years, the Soci- the world’s top doctors. ety has owned and operated these spe- cialty resale stores, mixing the fun of shopping with the serious mission of easing the burden of cancer on our Ours. loved ones and friends.”

Theyarethebrains,theheartandthesoulofCityofHope.They’ve come to us from the finest medical institutions around the world because we share the same sensibilities: a passion for curing the body The first California store opened in alongwithcompassiontohealthesoul.Ourdoctorsareamajorreason 1965 in the San Fernando Valley and today more than 41 Discovery Shops whyCityofHopeisoneofonly40hospitalsintheentireUnitedStates spread across California. They employ one full-time manager while the remain- designated by the National Cancer Institute as a Comprehensive Cancer ing staff is entirely volunteer – many of Center. If you or someone you love has been diagnosed with cancer, whom have been touched by cancer. Discovery Shops yield proceeds that make us your first call: 800-826-HOPE. Or ask your doctor for a referral. help fund the research, education, advocacy and patient service programs We accept most insurance. At City of Hope, we have answers to cancer. of the American Cancer Society. Many shops also include information centers where customers and members of the community can access free information about cancer.

Donate, shop, or volunteer at your nearest Discovery Shop. Find a location near you by Named one of “America’s Best Cancer Hospitals” going online to cancer.org/discovery or call- by U.S.News & World Report ing 1.800.227.2345. National Cancer Institute-designated cityofhope.org Comprehensive Cancer Center 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

JUNE 13, 2011 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL 27

CANCER AWARENESS Events With a Cause – Something for Everyone

MERICAN Cancer Society events are inspiring, uplifting, and great A at bringing the fight against can- cer directly into our community. From black-tie galas to full-length marathons, we have an event that will suit your Relay for Life is an interests and let you join in the spirit of overnight event camaraderie and compassion as we designed to celebrate work together to save lives from cancer. survivorship and raise Relay For Life is a fun-filled overnight money for research. event designed to celebrate survivorship and raise money for research and pro- grams of your American Cancer Society. During the event, teams of people gath- er at schools, fairgrounds, or parks and take turns walking or running laps. Each team tries to keep at least one team member on the track at all times. Nearly 100 Relays will take place in Los Angeles County in 2011. Each step walked at an American Can- cer Society Making Strides Against Breast Cancer event gets us closer to a world with more birthdays. Join us for this inspiring event to honor breast cancer survivors, raise awareness about the dis- ease, and to help save lives. With every step you take, you’ll be giving people fac- ing breast cancer more candles to light. Join our nation of athletes deter- mined to end cancer and save lives by dedicating your training and race par-    ticipation in marathons, triathlons, cycling, and other endurance events to help the American Cancer Society fight a disease that has already taken too many lives. With every step you take (
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28 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL JUNE 13, 2011

CANCER AWARENESS

Workplace Wellness – A Strategy for Improved Health

DULTS spend more than half their How does it work? the resources available through the waking hours on the job accord- By organizing meals and activities for American Cancer Society Meeting Aing to Healthy People, a national meetings based on the American Cancer Well planning tool, companies health promotion and disease preven- Society nutrition and physical activity demonstrate their interest in their tion initiative. As corporate leaders, it is guidelines, companies can give employ- employees’ well-being. up to you to offer your employees the ees an opportunity to make individual most rewarding experience possible in choices that may reduce their cancer ACTIVE FOR LIFE the workplace. By teaming up with the risk. From small working-lunch meet- Active for Life is a 10-week Ameri- American Cancer Society, you can lead ings to major company functions, our can Cancer Society program that uses the way in the area of employee well- program offers healthy food ideas and individual and group strategies to help ness and community involvement. suggestions for physical activity (such as employees become more physically The American Cancer Society’s free stretch breaks and group walks) that will active. Available to workplaces of all Employer Initiative Workplace Solutions energize employees and make your kinds, the program encourages programs are customized to fit your spe- events more effective. Meeting Well pro- employees to take an honest look at cific needs and have a positive impact vides healthy information and sugges- their current activity level and set real- on your company’s bottom line. We can tions including: istic goals for improvement. help you engage and energize your • General tips for meals and snacks Physical activities can range from employees with everything from evi- • Suggestions for stocking a healthy walking at lunchtime, taking the stairs dence-based health and wellness pro- vending machine rather than the elevator, or yard work grams that help reduce their risk of can- • Suggestions for action-packed meetings to more strenuous exercise like run- cer and other serious illnesses, to oppor- food ideas and suggestions for physical • Healthy meeting checklist ning, swimming, or playing tennis. tunities to participate in well-known activity that energize meeting partici- • The Menu Maker: a simple and color- Research shows that people who community events such as the Ameri- pants and demonstrate how easy it can ful tool for planning all meals and increase their physical activity, can Cancer Society Relay For Life and be to live a healthier lifestyle every day. snacks improve their diet, and maintain a Making Strides Against Breast Cancer. Employees often eat one or more of • Healthy and fun ideas for themed and healthy weight reduce their risk of Two American Cancer Society strate- their meals in the workplace. The food special events chronic diseases, including cancer, gies offered to area businesses to improve employees eat and the amount of physi- • One-hour training module on the ACS heart disease, and diabetes. workplace wellness include Meeting Well, cal activity they get on a daily basis direct- Guidelines on Nutrition and Physical a planning tool to help companies orga- ly impacts their health. By eating well Activity for Cancer Prevention and How does it work? nize meetings and events with good and being active, employees will feel bet- using the Meeting Well guidebook. Active for Life is designed to promote health in mind and Active for Life, a ter, have the energy they need to get regular and sustainable physical activity workplace physical activity program. through their busy workdays, and reduce What can you expect? and health awareness during the pro- their risk of chronic diseases, such as can- Business meetings are much more gram and long term. The program is MEETING WELL cer, diabetes, and heart disease. productive when employees are successful because it can be adapted to This tool offers companies healthy enthusiastic and engaged. By utilizing each employee. Additionally, employees

HAVE A VOICE IN YOUR WATER & POWER RATES! COMMUNITY COLLABORATIONCOLLABORATION SESSIONS East San San FFernandoernando Valley SoutSouthh LLosos AAngelesngeles WWednesday,ednesday, June 15 TTuesday,uesday, June 21 66:30:30 p.m.p.m. – 9 p.m. 66:30:30 pp.m..m. – 9 p.m. MaMarvinrvin BraudeBraude Constituent ConstituentCe Centernter CaCalifornialifornia AfriAfricancan AmAmericanerican MuseuMuseumm ((VanVan NuysNuys CityCity Hall) --ExpositionExposition ParkPark 1144104410 Sylvan Street 600 State DrivDrivee VVanan Nuys,Nuys, 91402 LLosos Angeles 90037 West San San FFernandoernando Valley WWestest LLosos AAngelesngeles TThursday,hursday, June 16 WWednesday,ednesday, June 22 66:30:30 p.m.p.m. – 9 p.m.p.m. 66:30:30 pp.m..m. – 9 pp.m..m. HHolidayoliday Inn – Warner Center SStephentephen S. Wise TemTempleple 2211011101 VenturaVentura BlvBlvd.d. 1155005500 StephenStephen S. Wise Drive WoodWoodlandland HillsHills9 913641364 LLosos AngelesAngeles 90077 NoNorthrth SaSann FFernandoernando Valley HaHarborrbor SSaturday,aturday, June 18 MMonday,onday, June 27 1100 a.m. – 12:30 p.m.p.m. 66:30:30 pp.m..m. – 9 pp.m..m. LLosos AnAngelesgeles Mission CollegeCollege CCrownerowne Plaza Los AnAngelesgeles Harbor 1133563356 Eldridge Ave. 606011 S. PPalosalos VVerdeserdes St. SySylmarlmar 91342 SaSann PPedroedro90 90731731 East LosLos AngelesAngeles SSummaryummary Session – Downtown LL.A..A. MMonday,onday, June 20, 6 p.m.p.m. – 8:30 pp.m..m. WWednesday,ednesday, JulJulyy 20 BBoyleoyle HeightsHeights TechnologyTechnology 66:30:30 – 9 pp.m..m. YoutYouthh CenterCenter LLADWPADWP HeadHeadquartersquarters 1600 EE.. 4th4th StreetStreet LeLevelvel A AAuditoriumuditorium LLosos Angeles, 90033 111111 N. HoHopepe St., Los AnAngelesgeles 90012 Visit www.ladwp.com/LAForwardwww.ladwp.com/LAForwardtolea to learnrn mmoreore about the 20112011 RRatesates PrProcessocess aandndto to RRSVP.SVP.

As a coveredcovered entityentity underunder TitleTitle II of thethe Americans wiwithth DisaDisabilitiesbilities AcAct,t, ththee CiCityty of Los AngeAngelesles ddoesoes nonottd discriminateiscriminate on ththee basis of disability and, uponupon request,request, will provide reasonable accommodation to ensure equalequal access to its pprograms,rograms, service andand acactivities.tivities. To ensure availability,availability, suchsuch requestsrequests shouldshould be be mademade 72 hourshours in advanceadvance byby cacallinglling (213) 367-1361, TDD: 1 (800) 432-7397432-7397.. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

JUNE 13, 2011 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL 29

CANCER AWARENESS

‘We approach every design for our clients with heart, walking share a sense of teamwork and peer mitment to honor her friend’s in their shoes to gain an including the purchase of the encouragement by being part of the memory. In a very personal understanding of what they pendant designed for the program. way, she is helping inspire want the piece to symbolize.’ American Cancer Society. those who still battle the dis- Ninety percent of the net pro- What can you expect? ease. EVELYN HUANG ceeds on the sale of the pen- Employees in Active for Life live a “Fanny was a very generous dant go directly to the Soci- more fit and healthy life while having person who supported several charities tribute to the story of Evelyn and ety, which uses the funds to provide a positive impact on their company’s indeterminate of her own personal situ- Michael’s friend Fanny, it also incorporates free, local programs and services to can- bottom line. Businesses with worksite ations,” remarks Evelyn. “Honoring the unwavering strength and support cer patients and caregivers. wellness programs that include oppor- Fanny and giving back to others is what behind many cancer survivors and their tunities for regular physical activity truly brings me a sense of joy.” families. Kevin Kapron is an American Cancer Soci- have seen improvements in employee Every facet of Evelyn’s design has At foreversunshine.org, Evelyn and ety Volunteer. For details on the Forever job performance and morale, lower meaning. The pendant created for the Michael open the opportunity for oth- Sunshine project and evelynH.Jewelry visit absenteeism and turnover, reduced dis- American Cancer Society not only pays ers to help in the fight against cancer, foreversunshine.org. ability days, and lower medical costs.

For more information about all the workplace solutions programs offered by the American Cancer Society, or to get these programs for your organization, visit acsworkplacesolutions.com, or call us toll-free at 1.800.227.2345. Reserve Your Table or Seat Today! A Jewelry Business Designed with Compassion Wednesday, June 29, 2011 11:00am – 1:30pm • Millennium Biltmore Hotel • Individual Tickets $95 | Tables of 10 $800

By KEVIN KAPRON The Los Angeles Business Journal is proud to present a tribute to the nonprofits of Los Angeles. We honor those professionals and organizations that continue to make a positive impact on the community and do so under difficult financial constraints. T Los Angeles-based Equally as important are the efforts of the corporations supporting these nonprofits. Many corporate executives volunteer time on evelynH.Jewelry, integrity is boards and lend support through financial donations and sponsorships. These awards recognize both equally important groups. A rooted into expanding creativi- ty, while the true artisan’s dedication is revealed in the personal designs CONGRATULATIONS TO OUR 2011 NOMINEES reflected in every creation. Each one of Evelyn Huang’s signature pieces is not only unique, but contains a deep Abode Communities Heal One World Premiere Oncology Foundation meaning that holds a memory and a Arent Fox LLP International Medical Corps Program for Torture Victims compelling story to be told. Barlow Respiratory Hospital Jack Wagner Prototypes “For me it’s all about heart,” says Bertossa Consulting Jay Nolan Community Services Say No To Drugs Race Evelyn. “We approach every design Judi Lirman, MFT Beverly Hills Greater Los Angeles Scripps College Academy for our clients with heart, walking in Association of Realtors JVS at Scripps College their shoes to gain an understanding Calabasas Chamber of Commerce JVS’ BankWork$ Shirley Ballas of what they want the piece to sym- Century Housing Corporation LA’s Prom Closet bolize and how that symbol will Society of St. Vincent de Paul, Children Youth and Family Laura Levinsky Consulting Council of Los Angeles inspire their lives.” Collaborative- Educational Pilot Project Library Foundation of Los Angeles Sony Pictures Entertainment Evelyn and her husband Michael Communities In Schools of Los Angeles Child Guidance Clinic have repeatedly used their custom Los Angeles & City Year Los Angeles Staples Center Foundation Los Angeles County Bicycle Coalition jewelry design business and their cre- Daisy Rock Girl Guitars State of the Art Images - Los Angeles Jewish Home ative and financial resources to give Downtown Women’s Center Photography by Jim Brammer Los Angeles Music & Art School back to those in need. As an award- El Arca, Inc. The Guardians of the Los Angeles Los Angeles Neighborhood Land Trust Jewish Home for the Aging winning designer, Evelyn’s successes Farmers & Merchants Bank Manatt Phelps and Phillips are many including having her Food on Foot The Help Group Mark Ballas “Squared Ring” design honored with Freeman Spogli & Co. The Marilyn Hilton MS Achievement Center Mattel, Inc. at UCLA & the National Multiple Sclerosis a 2010 Red Dot Jewelry Product Friends of Greystone Michael Walton Society, So Cal & Nevada Chapter Design Award. Fund Raising, Inc. Minds Matter of Los Angeles The Trevor Project There’s a sense of freedom in the Girl Scouts of Greater Los Angeles My Bunny and Me Tobinworld jewelry, in her art, that allows Evelyn Goodwill Southern California to personalize each piece and allow National Kidney Foundation Toyota Motor Sales, USA, Inc. Goodyear Tire & Rubber Co. Los Angeles Chapter Team someone to capture their individual Union Rescue Mission Great Shepherd Outreach - Panda Restaurant Group, Inc. - history. After losing a dear friend, Men of Valor Home Panda Cares Valley Economic Development Center Ms. Fanny Sun, to cancer, Evelyn Hasbro Studios Pelican Products Warner Brothers Entertainment Inc. designed a piece called “Forever Sun- shine” to benefit the work of the American Cancer Society. In honor of Fanny a pendant symbolizing hope, strength, courage and beauty PRESENTING SPONSORS: PLATINUM SPONSOR: GOLD SPONSOR: was lovingly created. To talk with United Way of Evelyn about designing and cus- Greater Los Angeles tomizing this piece of jewelry is to feel both her passion and her com- For more information or to attend, please visit www.labusinessjournal.com/bizevents or call 323.549.5225 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

30 LOS ANGELES BUSINESS JOURNAL INVESTMENTS & FINANCE JUNE 13, 2011

THE LABJ STOCK INDEX TRACKING LOS ANGELES AREA COMPANIES

 WEEKLY TOP GAINERS  WEEKLY TOP LOSERS

Response Genetics Inc. Ever-Glory International Group Inc. Boingo Wireless Inc.* Skechers U.S.A. Inc. $3.5 $3.5 $15 $50 June 6, 2010 $2.57 May 3, 2011 June 8, 2011 $13.50 3.0 $3.05 3.0 40 June 8, 2011 $2.21 12

2.5 2.5 30

9 2.0 2.0 20 June 8, 2011 June 8, 2010 $7.41 June 8, 2010 June 8, 2011 $2.79 $35.57 $13.91 1.5 1.5 6 10 6/10 8/10 10/10 12/10 2/11 4/11 6/11 6/10 8/10 10/10 12/10 2/11 4/11 6/11 5/3 5/10 5/17 5/24 5/31 6/8 6/10 8/10 10/10 12/10 2/11 4/11 6/11 *IPO May 3, 2011

TOP TEN LOCAL GAINERS BY PERCENTAGE (with closing prices at least $1) TOP TEN LOCAL LOSERS BY PERCENTAGE (with opening prices at least $1) June 8 June 1 Price 1-Wk 52-Wk June 8 June 1 Price 1-Wk 52-Wk Company Close Close Change % Chg. % Chg. Company Close Close Change % Chg. % Chg. Response Genetics Inc...... $3.05 $2.41 $0.64 26.6% 18.7% Boingo Wireless Inc...... $7.41 $9.72 -$2.31 -23.8% NA Ever-Glory International Group Inc...... 2.21 2.00 0.21 10.5% -20.8% Skechers U.S.A. Inc...... 13.91 16.75 -2.84 -17.0% -60.9% Qualstar Corp...... 1.83 1.70 0.13 7.6% 7.6% American Apparel Inc...... 0.86 1.01 -0.15 -14.4% -31.4% Electro Rent Corp...... 15.53 14.47 1.06 7.3% 24.8% ReachLocal Inc...... 17.03 19.67 -2.64 -13.4% 41.9% General Finance Corp...... 2.88 2.70 0.18 6.7% 128.6% BNK Petroleum Inc...... 4.99 5.75 -0.76 -13.2% 155.7% Cadiz Inc...... 10.69 10.12 0.57 5.6% -12.2% DineEquity Inc...... 47.32 53.93 -6.61 -12.3% 56.6% Peerless Systems Corp...... 3.30 3.16 0.14 4.4% 24.5% Demand Media Inc...... 13.11 14.94 -1.83 -12.2% NA Kennedy-Wilson Holdings Inc...... 11.84 11.34 0.50 4.4% 8.1% Green Dot Corp...... 32.69 37.08 -4.39 -11.8% NA Bank of Santa Clarita ...... 8.35 8.00 0.35 4.4% 28.5% K-Swiss Inc...... 9.46 10.67 -1.21 -11.3% -21.6% Manhattan Bancorp ...... 4.25 4.15 0.10 2.4% -22.7% Air Lease Corp...... 24.65 27.79 -3.14 -11.3% NA

 MARKET DIARY  MARKET INDEXES Lingering concerns about the economy and a mixed report from the Federal Reserve hammered the stock markets during June 8 June 1 Point 1-Wk 52-Wk the week ended June 8. The Dow Jones industrial average lost 2 percent, while the other major indexes fell further. The Index Close Close Change % Chg. % Chg. LABJ Index dropped 2.7 percent as 138 stocks declined and just 27 advanced. Boingo Wireless Inc., a wireless Internet Dow Jones Industrial ...... 12,048.94 12,290.14 -241.20 -2.0% 21.2% provider that went public last month, was the biggest loser after reporting a first quarter loss. Shares of the L.A. company fell nearly 24 percent to $7.41. Skechers U.S.A. Inc., hurt by lackluster sales of its toning shoe line, took a hit. Shares of NASDAQ ...... 2,675.38 2,769.19 -93.81 -3.4% 23.3% the Manhattan Beach footwear maker dropped 17 percent to $13.91. DineEquity Inc. hit a slide after announcing the sale S&P 500 ...... 1,279.56 1,314.55 -34.99 -2.7% 20.5% of 66 company-operated Applebee’s restaurants. Shares of the Glendale company fell more than 12 percent to $47.32. LABJ Index ...... 124.55 127.99 -3.44 -2.7% 7.4%

 MARKET SUMMARY  DIVIDEND YIELD MOST ACTIVE STOCKS VOLUME WEEKLY SUMMARY Company Dividend Yield Dividend Weekly Close Walt Disney Co...... 11,813,648 Advances ...... 27 Stamps.com Inc...... 16.8% $2.00 $11.88 Activision Blizzard Inc...... 9,732,620 Declines ...... 138 Anworth Mortgage Asset Corp...... 13.0% $0.95 $7.33 DirecTV ...... 5,750,159 Unchanged ...... 17 PennyMac Mortgage Investment Trust ...... 9.6% $1.61 $16.84 Amgen Inc...... 4,326,266 New Highs ...... 2 BreitBurn Energy Partners LP ...... 8.3% $1.60 $19.38 Capstone Turbine Corp...... 3,688,726 New Lows ...... 11 United Online Inc...... 7.2% $0.40 $5.58

 LABJ INDEX

LABJ Index, 52 weeks LABJ Index v. S&P 500, 5 days LABJ Index v. S&P 500, 52 weeks 150 0.5% 30%

0.0 S&P 500 24 June 8, 2011 LABJ Index S&P 500 124.55 -0.5 LABJ Index 18 -1.0 120 12 -1.5

6 -2.0

-2.5 0

90 -3.0 -6 J J A S O N D J F M A M J 6/2 6/3 6/6 6/7 6/8 J J A S O N D J F M A M J

Note: The LABJ Stock Index includes all companies on the opposite page and is weighted by market cap.

For more information please contact: Data provided by Bloomberg, a source considered to be reliable. However, the information in this feature may not be complete James Hillman, Managing Director (213) 553-9748 and cannot be guaranteed. The information provided in this feature does not constitute the provision of investment advice. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

JUNE 13, 2011 INVESTMENTS & FINANCE LOS ANGELES BUSINESS JOURNAL 31

THE LABJ STOCK INDEX TRACKING LOS ANGELES AREA COMPANIES  TOP GAINERS TOP LOSERS Company June 8 1-Wk YTD 52-Wk P.E. Mkt. Cap Company June 8 1-Wk YTD 52-Wk P.E. Mkt. Cap Name Ticker Close % Chg % Chg % Chg Ratio (millions) Name Ticker Close % Chg % Chg % Chg Ratio (millions)

AEROSPACE/DEFENSE RadNet Inc. RDNT $4.51 -4.9% 59.9% 67.0% NA $168.3 Aerovironment Inc. AVAV $28.77 -3.1% 7.2% 16.4% 26.6 $630.0 VCA Antech Inc. WOOF 21.95 -8.3% -5.8% -14.1% 16.9 1,897.0 AML Communications Inc. AMLJ 2.49 -0.4% 85.8% 81.8% 22.6 26.7 INSURANCE Ducommun Inc. DCO 19.20 -1.0% -11.8% 9.3% 12.4 202.2 Mercury General Corp. MCY 39.61 -2.3% -7.9% -6.6% 20.2 2,171.3 Flamemaster Corp. FAME NA NA 2.0% 31.6% 10.7 6.3 Unico American Corp. UNAM 9.54 -2.8% 4.4% 4.3% 17.3 50.9 Northrop Grumman Corp. NOC 63.13 -1.0% 7.4% 21.3% 9.7 18,479.4 Wesco Financial Corp. WSC 382.25 -1.1% 3.8% 13.3% 55.9 2,721.5 Teledyne Technologies Inc. TDY 44.46 -6.6% 1.1% 21.2% 13.6 1,632.9 INTERNET APPAREL Bidz.com Inc. (L) BIDZ 0.92 -10.7% -24.1% -43.2% NA 17.9  American Apparel Inc. APP 0.86 -14.4% -47.9% -31.4% NA 71.6  Boingo Wireless Inc. (L) WIFI 7.41 -23.8% NA NA NA 241.0 Cherokee Inc. CHKE 18.24 -0.8% -3.0% 1.1% 21.0 155.0 CrowdGather Inc. CRWG 0.78 0.0% -50.3% -36.1% NA 44.4 Guess? Inc. GES 39.98 -10.3% -15.5% 27.7% 13.4 3,701.8 J2 Global Communications Inc. JCOM 28.17 -1.1% -2.7% 26.9% 13.2 1,295.4 Hot Topic Inc. HOTT 7.05 -6.3% 12.1% 44.5% 117.5 315.5  ReachLocal Inc. RLOC 17.03 -13.4% -14.5% 41.9% NA 489.3 Joe's Jeans Inc. (L) JOEZ 0.75 -9.7% -51.8% -65.1% 25.0 48.3 Spark Networks Inc. LOV 3.29 -0.9% 10.8% -4.9% 25.3 67.7  K-Swiss Inc. KSWS 9.46 -11.3% -24.1% -21.6% NA 334.7 Stamps.com Inc. STMP 11.88 -5.1% -10.3% 35.6% 22.0 170.4 People's Liberation Inc. PPLB 0.13 18.2% 18.2% -18.8% NA 4.7 United Online Inc. UNTD 5.58 -3.3% -15.5% -11.3% 8.9 494.6  Skechers U.S.A. Inc. (L) SKX 13.91 -17.0% -30.5% -60.9% 7.4 692.6 ValueClick Inc. VCLK 16.38 -8.5% 2.2% 49.3% 15.5 1,288.8 True Religion Apparel Inc. TRLG 24.95 -9.7% 12.1% -0.2% 13.2 643.1 MANUFACTURING AUTOMOTIVE/PLASTICS/METALS Avery Dennison Corp. AVY 37.27 -9.8% -12.0% 18.8% 12.3 3,983.2 Motorcar Parts of America Inc. MPAA 15.25 -2.4% 16.9% 159.8% 14.7 184.0 BioSolar Inc. BSRC 0.13 -7.4% 30.2% -37.5% NA 20.1 Reliance Steel & Aluminum Co. RS 46.77 -5.0% -8.5% 11.0% 14.4 3,499.4 Cereplast Inc. CERP 4.87 -1.0% 17.6% 20.2% NA 76.7 Superior Industries International Inc. SUP 20.18 -4.2% -4.9% 42.3% 10.0 544.2 Dole Food Co Inc. DOLE 12.95 -1.3% -4.1% 36.5% NA 1,147.1  US Auto Parts Network Inc. PRTS 7.12 -5.1% -15.2% -0.8% 71.2 217.5 Ever-Glory International Group Inc. EVK 2.21 10.5% 4.7% -20.8% 4.1 32.6 BIOMEDICAL/PHARMACEUTICAL Farmer Bros Co. (L) FARM 8.68 -9.7% -51.2% -47.3% NA 140.7 Amgen Inc. AMGN 58.95 -1.3% 7.4% 9.5% 12.4 54,807.6 Jakks Pacific Inc. JAKK 18.30 -5.0% 0.4% 36.9% 18.1 497.9 Arrowhead Research Corp. (L) ARWR 0.55 -0.9% -39.1% -67.0% NA 39.1 Mattel Inc. MAT 25.23 -3.5% -0.8% 21.9% 14.0 8,769.6 CytRx Corp. CYTR 0.83 -11.0% -18.3% 4.4% NA 90.1 OSI Systems Inc. OSIS 39.39 -0.6% 8.3% 49.0% 24.2 750.5 Iris International Inc. IRIS 8.96 -8.2% -12.4% -8.5% 58.2 159.5 Overhill Farms Inc. OFI 5.97 -2.6% 3.6% -1.6% 18.1 94.5 MannKind Corp. MNKD 3.80 -5.0% -52.9% -32.6% NA 496.6 Reed's Inc. REED 2.05 1.8% 1.8% 10.0% NA 22.1 Obagi Medical Products Inc. OMPI 9.47 0.2% -18.0% -22.2% 13.5 175.2 Virco Manufacturing VIRC 2.82 -6.3% 6.8% -9.0% NA 40.1 Oxis International Inc. OXIS 0.10 11.8% -34.5% -20.8% NA 18.2 MEDIA/LEISURE/ENTERTAINMENT Physicians Formula Holdings Inc. FACE 4.46 -4.1% 18.6% 22.5% 223.0 60.6 Crown Media Holdings Inc. CRWN 1.83 -7.1% -30.2% 2.8% 18.3 658.2  Response Genetics Inc. RGDX 3.05 26.6% 23.0% 18.7% NA 56.0 Daily Journal Corp. DJCO 74.50 -0.7% 3.5% 4.9% 13.0 102.9  Staar Surgical Co. STAA 5.24 -8.2% -14.1% 5.9% NA 186.2 Demand Media Inc. DMD 13.11 -12.2% NA NA NA 1,090.8 COMPUTERS/PERIPHERALS/ELECTRONICS Derycz Scientific Inc. DYSC 2.65 -4.7% 0.0% 178.9% NA 44.6 Aura Systems Inc. AUSI 0.69 -1.4% -8.0% -13.8% NA 39.7 DirecTV DTV 47.52 -4.3% 19.0% 26.3% 17.5 36,485.2 International Rectifier Corp. IRF 26.01 -6.2% -12.4% 35.2% 13.7 1,814.4 DreamWorks Animation SKG Inc. (L) DWA 22.00 -5.2% -25.3% -21.6% 4.5 1,857.7 DTS Inc. DTSI 40.56 -7.8% -17.3% 29.7% 42.3 705.8 Ixia XXIA 13.85 -6.6% -17.5% 51.7% 57.7 951.5 Entravision Communications Corp. EVC 1.96 -2.0% -23.7% -21.9% 39.2 167.5 MRV Communications Inc. MRVC 1.32 -4.3% -26.3% 14.8% 18.9 207.8 Image Entertainment Inc. DISK 0.16 -5.9% 14.3% -23.8% NA 40.9 PC Mall Inc. MALL 8.10 -1.9% 7.0% 78.4% 11.9 100.5 Lions Gate Entertainment Corp. LGF 6.13 -1.0% -5.8% -12.4% NA 839.8 Power-One Inc. PWER 8.23 0.6% -19.3% 24.7% 6.7 852.9 Live Nation Entertainment Inc. LYV 10.27 -6.6% -10.1% -5.3% NA 1,867.7  Qualstar Corp. QBAK 1.83 7.6% 8.3% 7.6% NA 22.4 NeuMedia Inc. MNDL 0.45 -4.3% 55.2% 125.0% NA 16.3 Semtech Corp. SMTC 26.56 -3.1% 17.3% 58.4% 20.3 1,718.0 Point.360 PTSX 0.50 -3.8% -43.2% -72.4% NA 5.4 Taitron Components Inc. TAIT 1.32 -2.9% -16.5% 1.5% NA 7.3 Provision Holding Inc. PVHO 0.06 -5.0% -5.0% -43.0% NA 2.6 Trio Tech International TRT 3.50 -1.1% -16.1% -15.5% 15.2 11.6 Reading International Inc. RDI 4.72 -5.2% -6.5% 26.9% NA 109.6 Vitesse Semiconductor Corp. VTSS 4.28 0.2% 2.1% -30.1% 4.2 104.6 RealD Inc. RLD 23.87 -7.7% -7.9% NA NA 1,224.6 CONSTRUCTION/ENGINEERING Salem Communications Corp. SALM 3.50 -0.6% 10.4% -2.2% 31.8 84.9 Aecom Technology Corp. ACM 27.51 -1.3% -1.6% 17.3% 13.0 3,279.1 Stratus Media Group Inc. SMDI 0.61 -34.4% -4.7% -67.0% NA 39.2 Ameron International Corp. AMN 60.16 -7.6% -21.2% 2.8% 34.0 549.7 Tix Corp. TIXC 1.74 -4.9% 40.3% 46.2% 43.5 54.2 Jacobs Engineering Group Inc. JEC 42.05 -4.5% -8.3% 6.8% 17.0 5,332.4 Walt Disney Co. DIS 39.23 -2.9% 4.6% 18.3% 17.1 74,150.7 KB Home KBH 10.76 -9.0% -20.2% -12.2% NA 828.2 MISC. SERVICES Ryland Group Inc. RYL 16.30 -7.9% -4.3% 2.6% NA 723.4  Air Lease Corp. (L) AL 24.65 -11.3% NA NA NA 2,470.4 Tetra Tech Inc. TTEK 21.89 -7.9% -12.6% 6.7% 16.6 1,364.7  Cadiz Inc. CDZI 10.69 5.6% -14.1% -12.2% NA 147.8 Tutor Perini Corp. TPC 19.41 0.9% -9.3% 17.5% 10.5 914.7  Electro Rent Corp. ELRC 15.53 7.3% -3.9% 24.8% 18.5 372.4 ENERGY/UTILITIES Enova Systems Inc. ENA 0.85 -4.9% -34.0% -12.8% NA 26.7 American States Water Co. AWR 33.53 -1.9% -2.7% 2.9% 16.1 625.7 Korn/Ferry International KFY 20.78 -1.8% -10.1% 56.2% 19.6 976.0  BNK Petroleum Inc. BNKPF 4.99 -13.2% 45.6% 155.7% NA NA National Technical Systems Inc. NTSC 6.30 0.0% -21.9% 13.4% 15.8 64.5 BreitBurn Energy Partners LP BBEP 19.38 -4.0% -3.8% 32.6% 41.2 1,144.2 NetSol Technologies Inc. NTWK 1.43 -7.7% -23.5% 90.7% 7.9 79.2 Capstone Turbine Corp. CPST 1.64 -1.8% 70.9% 51.9% NA 403.4 Edison International EIX 38.86 -0.6% 0.7% 20.3% 11.8 12,661.0 On Assignment Inc. ASGN 9.48 -9.8% 16.3% 100.8% 67.7 350.4 Occidental Petroleum Corp. OXY 102.49 -1.1% 4.5% 28.0% 16.3 83,311.5 Rentech Inc. RTK 0.82 -8.2% -32.9% -17.2% NA 182.6 U.S. China Mining Group Inc. SGZH 3.95 -1.0% -37.9% -18.0% 4.2 74.7 Scope Industries SCPJ NA NA 64.3% 68.3% 65.6 211.7 FINANCIAL SERVICES UTi Worldwide Inc. UTIW 19.37 -10.7% -8.6% 47.9% 27.7 1,988.3 1st Century Bancshares Inc. FCTY 3.75 0.0% -8.5% 7.1% NA 35.0 REAL ESTATE American Business Bank AMBZ 23.00 0.0% 3.3% 5.4% 11.2 100.6 Alexandria Real Estate Equities Inc. ARE 78.23 -2.0% 6.8% 20.0% 26.1 4,831.7 Anworth Mortgage Asset Corp. ANH 7.33 2.2% 4.7% 7.3% 8.6 927.5 CB Richard Ellis Group Inc. CBG 24.89 -2.2% 21.5% 78.4% 32.3 8,088.9  Bank of Santa Clarita BSCA 8.35 4.4% 20.1% 28.5% 41.8 14.3 Douglas Emmett Inc. DEI 20.23 -1.4% 21.9% 37.8% NA 2,517.0 Beach Business Bank BBBC 5.93 -0.3% 18.6% 17.4% NA 23.8 HCP Inc. HCP 36.47 -1.1% -0.9% 17.4% 33.8 14,807.8 Broadway Financial Corp. BYFC 2.35 0.0% -3.3% -30.9% NA 4.1 Hudson Pacific Properties Inc. HPP 15.42 -0.4% 2.5% NA NA 517.5 California United Bank CUNB 12.40 0.0% 0.4% 16.9% NA 61.2 Intergroup Corp. INTG 22.19 -0.3% 2.7% 46.4% 5.8 53.2 Cathay General Bancorp CATY 15.03 -3.4% -10.0% 43.0% 22.4 1,181.9  Kennedy-Wilson Holdings Inc. (H) KW 11.84 4.4% 18.5% 8.1% NA 475.7 Center Financial Corp. CLFC 5.80 -10.6% -23.5% 5.8% 12.9 231.5 Kilroy Realty Corp. KRC 39.64 -1.9% 8.7% 30.7% 264.3 2,317.2 City National Corp. CYN 53.09 -3.2% -13.5% -3.9% 18.6 2,823.2 LTC Properties Inc. LTC 28.48 -0.8% 1.4% 19.4% 25.7 863.9 Colony Financial Inc. CLNY 18.10 -0.9% -9.6% 3.7% 12.4 592.5 Macerich Co. MAC 52.23 -1.9% 10.3% 38.9% 193.4 6,836.9 East West Bancorp Inc. EWBC 18.37 -2.5% -6.0% 20.1% 14.8 2,732.0 Meruelo Maddux Properties Inc.* MMPIQ 0.51 2.0% 82.1% 696.9% NA 44.9 Farmers & Merchants Bank FMBL 4256.00 0.1% 7.2% 0.8% 10.1 557.2 MPG Office Trust Inc. MPG 2.69 -3.9% -2.2% 1.9% NA 131.9 First California Financial Group Inc. FCAL 3.52 0.3% 25.7% 27.5% NA 100.0 Pacific Office Properties Trust Inc. PCE 2.05 -2.4% -50.8% -50.0% NA 39.7  General Finance Corp. GFN 2.88 6.7% 45.5% 128.6% NA 63.4 Portsmouth Square Inc. PRSI NA NA 4.3% 2.1% 6.3 17.6 Great American Group Inc. GAMR 0.30 0.0% -38.8% -80.8% NA 9.2 PS Business Parks Inc. PSB 55.99 -0.8% 0.5% 7.7% 31.6 1,383.7  Green Dot Corp. (L) GDOT 32.69 -11.8% -42.4% NA 34.1 1,369.0 Public Storage PSA 116.23 0.9% 14.6% 31.8% 41.1 20,806.4 Hanmi Financial Corp. HAFC 1.12 -3.4% -2.6% -25.3% NA 169.4 Santa Fe Financial Corp. SFEF 16.00 0.0% 21.1% 33.3% 177.8 19.9 Kaiser Federal Financial Group Inc. KFFG 12.21 -2.2% 5.4% -0.1% 13.9 116.7 Thomas Properties Group Inc. TPGI 3.15 1.0% -25.4% -17.1% NA 160.4 Malaga Financial Corp. MLGF 15.00 -3.3% -1.6% -6.1% 8.2 87.0 RESTAURANTS/RETAIL/GROCERY  Manhattan Bancorp MNHN 4.25 2.4% -17.5% -22.7% NA 16.9 99 Cents Only Stores NDN 20.29 -1.5% 27.3% 49.3% 19.0 1,429.1 Mission Valley Bancorp MVLY NA NA 16.0% -1.1% NA 10.7 Arden Group Inc. ARDNA 85.07 -2.9% 3.1% -3.1% 14.4 261.3 Nara Bancorp Inc. NARA 7.49 -10.5% -24.0% -8.0% NA 284.6 Big 5 Sporting Goods Corp. (L) BGFV 8.29 -9.9% -45.7% -37.1% 9.1 182.2 NCAL Bancorp NCAL 9.50 0.0% -5.0% -22.4% NA 22.2 California Pizza Kitchen Inc. CPKI 18.40 0.1% 6.5% 5.9% 22.4 452.4 Pacific Commerce Bank PFCI 3.25 0.0% 8.3% 8.3% NA 7.9 Cheesecake Factory Inc. CAKE 29.31 -4.7% -4.4% 22.6% 20.1 1,692.7 PacWest Bancorp PACW 19.33 -5.2% -9.6% 2.1% 214.8 685.5  DineEquity Inc. DIN 47.32 -12.3% -4.2% 56.6% 28.3 876.6 PennyMac Mortgage Investment Trust PMT 16.84 -0.5% -7.2% 5.0% 9.8 467.5 Grill Concepts Inc. GLLC 0.30 0.0% 3.4% -16.7% NA 2.6 Preferred Bank PFBC 1.51 -2.6% -14.2% -26.0% NA 99.7 Jerry's Famous Deli Inc. DELI NA NA -50.0% -41.7% 5.6 8.2 Saehan Bancorp SAEB NA NA -12.8% -24.4% NA 4.1 Sport Chalet Inc. SPCHB 2.30 0.0% -38.5% -20.5% NA 28.3 SearchMedia Holdings Ltd. IDI 1.94 -6.3% -37.6% -42.8% NA 40.5 SOFTWARE Wilshire Bancorp Inc. (L) WIBC 2.96 -4.2% -61.2% -67.7% NA 195.0 Activision Blizzard Inc. ATVI 11.37 -4.7% -8.6% 8.0% 18.6 13,009.2 HEALTH CARE Cornerstone OnDemand Inc. CSOD 18.25 -6.5% NA NA NA 867.6 Health Net Inc. HNT 30.38 -4.0% 11.3% 19.5% 12.5 2,749.2 CyberDefender Corp. CYDE 1.80 -1.1% -41.2% -60.4% NA 50.7 Herbalife Ltd. (H) HLF 52.76 -3.3% 54.3% 142.7% 20.2 6,291.0 Guidance Software Inc. GUID 7.64 0.5% 6.3% 36.2% NA 193.4 Imaging3 Inc. IMGG 0.08 -9.1% -47.7% -77.1% NA 30.4  Peerless Systems Corp. PRLS 3.30 4.4% 4.8% 24.5% 11.4 11.4 IPC The Hospitalist Co Inc. IPCM 46.70 -3.7% 19.7% 66.5% 29.6 764.4 Simulations Plus Inc. SLP 2.81 -1.4% 4.5% 23.8% 18.7 43.4 Molina Healthcare Inc. MOH 25.87 -1.5% 39.3% 50.3% 18.0 1,186.3 THQ Inc. THQI 3.64 -9.7% -39.9% -29.7% NA 248.7

NOTES ON STOCK TABLES (H) Stock hit new 52-week high (L) Stock hit new 52-week low (S) Stock split during week *Reorganizing under Chapter 11 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

32 LOS ANGELES BUSINESS JOURNAL INVESTMENTS & FINANCE JUNE 13, 2011

ECONOWATCH L.A.COUNTY

%± from  GENERAL INDICATORS Latest Previous previous Year %± from period period period ago year ago Staying Employment (000’s) (Apr.)1 ...... 4,322.8 4,261.9 +1.4% 4,284.8 +0.9% Unemployment (000’s) (Apr.)1 ...... 575.7 590.7 -2.5% 587.6 -2.0% Film Production Days (1st qtr.)2 ...... 11,604 11,712 -0.9% 11,087 +4.7% Bankruptcies Chapter 7 (Apr.)...... 3,609 4,043 -10.7% 3,680 -1.9% still Chapter 11 (Apr.) ...... 57 47 +21.3% 38 +50.0% Trade3 Exports (mils.) (Mar.)...... $10,451.0 $9,169.1 +14.0% $8,907.0 +17.3% Imports (mils.) (Mar.) ...... $25,606.8 $25,513.8 +0.4% $17,906.4 +43.0% Air cargo4 isn’t LAX (Apr.) ...... 155.1 174.7 -11.2% 165.3 -6.2% Burbank (Mar.) ...... 8.7 7.1 +22.5% 8.5 +2.4% Container volume5 (000’s) Long Beach (Apr.) ...... 531.1 412.2 +28.8% 485.1 +9.5% Los Angeles (Apr.) ...... 617.3 600.8 +2.7% 595.3 +3.7% an option Los Angeles CPI (Apr.) ...... 233.3 232.2 +0.5% 225.9 +3.3% %± from  REAL ESTATE Latest Previous previous Year %± from period period period ago year ago Construction lending (mils.) (Apr.) ...... $121.9 $169.3 -28.0% $120.1 +1.5% Property acquisition lending (mils.)6 (Apr.) . . . . .$1,698.8 $1,800.7 -5.7% $1,951.7 -13.0% Refinance lending (mils.) (Apr.)7 ...... $3,716.4 $5,104.2 -27.2% $3,737.1 -0.6% Foreclosures Number (Apr.) ...... 2,309 2,937 -21.4% 3,096 -25.4% If you aren’t getting ahead, Value (mils.) (Apr.) ...... $604.4 $1,011.6 -40.3% $1,008.6 -40.1% Building contracts (mils.) you are falling behind. Residential (Apr.) ...... $160.2 $152.8 +4.8% $229.8 -30.3% Nonresidential (Apr.) ...... $218.8 $260.3 -15.9% $262.0 -16.5% Building permits (mils.) The Los Angeles Business Journal will Residential (Mar.) ...... $418.2 $166.0 +151.9% $290.2 +44.1% keep you ahead of your competition – Nonresidential (Mar.) ...... $263.3 $223.3 +17.9% $244.5 +7.7% Housing start permits (Mar.) ...... 1,707 209 +716.7% 980 +74.2% It is a publication filled with insight and Home sales (Mar.) ...... 4,258 3,371 +26.3% 4,849 -12.2% Home prices (000’s) (Mar.) ...... 330 325 +1.5% 340 -2.9% information that you need to read, but Condo sales (Mar.) ...... 1,746 1,308 +33.5% 1,777 -1.7% Condo prices (000’s) (Mar.) ...... 300 270 +11.1% 300 0.0% more important,one that you will want Apartments (4th qtr.) Gross occupancy ...... 93.8% 93.9% -0.1% 94.1% -0.3% to read. Avg. sq. ft. rent ...... $1.86 $1.90 -2.1% $1.87 -0.05% Avg. monthly rent ...... $1,609 $1,606 +0.2% $1,564 +2.9% Subscribe today. Office vacancy rates (1st qtr.) Downtown Los Angeles ...... 15.0% 16.0% -6.3% 15.2% -1.3% As part of your subscription, you will San Fernando Valley ...... 18.5% 18.0% +2.8% 18.9% -2.1% also receive access to the daily elec- West L.A...... 16.6% 16.4% +1.2% 16.4% +1.2% South Bay ...... 19.3% 19.0% +1.6% 18.0% +7.2% tronic Los Angeles Business Journal, Countywide ...... 16.9% 17.0% -0.6% 16.6% +1.8% unlimited on-line access to our Industrial vacancy rates (1st qtr.) Downtown/Central ...... 2.1% 2.3% -8.7% 2.6% -19.2% archives, and the Book of Lists, South Bay ...... 3.1% 3.2% -3.1% 2.7% +14.8% San Gabriel Valley ...... 3.4% 3.6% -5.6% 4.1% -17.1% published at the end of the year. %± from Call toll-free 1.800.404.5225  TOURISM Latest Previous previous Year %± from month month month ago year ago Hotel occupancy rate (Apr.) ...... 73.9% 75.9% -2.6% 70.1% +5.4% Room rate (Apr.) ...... $149.6 $152.4 -1.8% $142.1 +5.3% Passengers LAX (000’s) (Apr.) ...... 5,028.1 4,951.0 +1.6% 4,687.0 +7.3% Burbank Airport (000’s) (Mar.)...... 353.8 314.7 +12.4% 372.5 -5.0%

FOOTNOTES 1. Not seasonally adjusted. 5. 20-foot equivalent unit. 2. Music, television, film and commercials quarterly. 6. Apartment and residential combined 3. Through Los Angeles Customs District. 7. Includes refinancings, second mortgages and equity mortgages 4. In thousands of tons.

BOLDFACE INDICATES UPDATED FIGURES Sources: California State Employment Development Department (employment figures); FilmL.A. Inc. (film permits); U.S. Bankruptcy Court, Central District of Calif., Los Angeles (bankruptcies); Census.gov (exports, imports); City of Los Angeles Airport Department (LAX passenger traffic and air cargo); Burbank-Glendale-Pasadena Airport Authority (Burbank passenger traffic and air cargo); Bureau of Labor Statistics, Los Angeles (Los Angeles consumer price index); Office of Economic Research at California State University, HomeData (home sales, home prices, condo sales, condo prices); F.W. Dodge Division, McGraw-Hill (building contracts); Construction Industry Research Board (housing start permits, building permits); M/PF Research Inc. (apartments); Grubb & Ellis (office and industrial vacancy rates); PKF Consulting (hotel occupancy rate, room rate). 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

JUNE 13, 2011 REAL ESTATE LOS ANGELES BUSINESS JOURNAL 33 Double-Dip Housing Plunge? Not Now in L.A. HOUSING: Area home prices hold steady in May, Market Highlights besting other regions. MOST EXPENSIVE HOMES 5/11 5/11 5/10 ZIP Home Median Median Despite a national housing market that’s Community Code Sales Price Price Change verged into double-dip territory, Los Angeles Santa Monica 90402 4 2,116 985 115% County home prices resisted the trend in May. L.A./Westwood 90024 3 1,872 1,400 34% The median price of a home remained at Malibu 90265 10 1,675 1,435 17% $340,000 for the second straight month, while- Beverly Hills 90210 15 1,590 2,140 -26% condo prices did even better, rising $22,000, or Pacific Palisades 90272 17 1,568 1,900 -17% L.A./W. Hollywood 90069 10 1,515 1,225 24% 8 percent, to $297,000, according to Home- San Marino 91108 14 1,488 1,690 -12% Data of Hicksville, N.Y. L.A./Brentwood 90049 18 1,415 1,377 3% However, with both home and condo sales Manhattan Beach 90266 31 1,275 1,485 -14% down a fraction of a percent since April (when L.A./W. Hollywood 90048 13 1,272 1,150 11% adjusted for the number of sales days each month), few were excited by the figures. MOST EXPENSIVE CONDOS 5/11 5/11 5/10 “It’s a continued trend of numbers that are ZIP Condo Median Median lower than what we are hoping,” said David Community Code Sales Price Price Change Kissinger, director of government affairs at the Manhattan Beach 90266 9 1,590 1,808 -12% South Bay Association of Realtors. “The L.A./Bel-Air 90077 3 1,078 845 28% economic recovery is taking longer than any- Santa Monica 90402 5 1,015 690 47% one would desire.” Hermosa Beach 90254 8 958 1,090 -12% Beverly Hills 90212 3 875 N/A N/A The latest Standard & Poor’s/Case-Shiller Culver City 90232 3 800 484 65% index of U.S. housing prices showed 20 metro- Pacific Palisades 90272 6 755 708 7% politan areas hit new lows in March since the Santa Monica 90403 12 755 788 -4% burst of the housing bubble. Malibu 90265 6 652 425 53% But the index also indicated that Los Ange- L.A./Brentwood 90049 10 648 790 -18% les and Orange counties were doing better, Studio City: A home in the community, where the median was $728,000. with prices at 5.4 percent above lows hit in HOME PRICE LOSSES 2009. The May figures from HomeData indi- 5/11 5/11 5/10 ZIP Home Median Median L.A. COUNTY MEDIAN HOME PRICES cate the pattern is holding. Community Code Sales Price Price Change $500 Los Angeles County median homes prices hit Glendale 91201 5 313 525 -40% a post-bust low of $303,000 in April 2009 but L.A./East L.A. 90023 7 190 309 -39% 480 L.A./Lincoln Heights 90031 5 199 295 -33% have not fallen below that level even with the 460 coming and going of a federal home buyers credit. L.A./South L.A. 90248 5 295 430 -31% The $8,000 credit toward the purchase of a Valley Village 91607 9 460 648 -29% 440 L.A./Palms 90034 10 530 746 -29% first home, which expired last spring, boosted 420 Studio City 91604 22 728 1,016 -28% median prices to $359,000 last September before Calabasas 91302 22 952 1,295 -26% 400 they fell again, to $325,000 this February. This West Covina 91791 17 370 501 -26% spring, prices recovered a bit before steadying. Duarte - Bradbury 91010 14 286 385 -26% 380 $340 $340 However, Kissinger, like other analysts, 360 $305 believes that the housing market will remain CONDO PRICE LOSSES weak as long as the economy is fragile. “We 5/11 5/11 5/10 340 ZIP Condo Median Median are certainly looking to see the job situation Community Code Sales Price Price Change 320 improve. People need to get hired and get a Crenshaw District 90016 5 139 295 -53% 300 regular paycheck to pay for housing,” he said. Winnetka 91306 13 126 235 -46% Among the county’s ritziest neighborhoods, Pasadena 91106 19 279 475 -41% 280 the housing market showed inconsistency. Newhall 91321 16 164 278 -41% 260 Sylmar 91342 29 200 332 -40% In Malibu, 10 homes sold for a median 240 price of $1.68 million, 17 percent higher than a Pasadena 91105 4 376 604 -38% Northridge 91325 6 208 332 -37% 220 (In thousands) year ago. However, in nearby Pacific Pal- Long Beach 90810 4 166 260 -36% isades, 17 homes sold for $1.57 million, 17 San Pedro 90731 5 210 325 -35% 200 MJ J A S 0 NDJ FMAMJ J A S ONJFMAM D percent lower than last year. Similarly, prices Encino 91316 13 205 304 -33% were down in Beverly Hills, while up slightly 2009 2010 2011 in Brentwood. Sale price in thousands Source: HomeData, www.homedata.com Source: HomeData Corp. – Jacquelyn Ryan

May 2011 New and Existing Home Sales in L.A. County Condo Sales Median Price Median Price Home Sales Percent (thousands) Percent Condo Sales Percent (thousands) Percent Community ZIP Code 20111 20102 Change 2011 2010 Change 20111 20102 Change 2011 2010 Change Los Angeles County 4,641 4,378 6% $340 $350 -3% 1,785 1,557 15% $297 $310 -4% Acton 93510 5 5 0% 430 460 -7% 2 0 N/A 115 N/A N/A Agoura Hills 91301 14 15 -7% 748 640 17% 9 4 125% 250 264 -5% Alhambra 91801 12 18 -33% 495 486 2% 12 11 9% 352 395 -11% Alhambra 91803 4 2 100% 324 428 -24% 3 5 -40% 469 380 23% Altadena 91001 33 29 14% 480 562 -15% 1 1 0% 420 525 -20% Arcadia 91006 22 25 -12% 736 746 -1% 6 9 -33% 618 630 -2% Arcadia 91007 15 16 -6% 893 958 -7% 10 8 25% 480 571 -16% Artesia 90701 6 3 100% 265 160 66% 0 1 N/A N/A 122 N/A Azusa 91702 40 28 43% 258 290 -11% 5 10 -50% 155 198 -22% Baldwin Park 91706 37 37 0% 242 260 -7% 10 11 -9% 180 205 -12% Bell/Bell Gardens 90201 7 13 -46% 230 308 -25% 6 5 20% 316 300 5% Bellflower 90706 34 31 10% 328 360 -9% 6 7 -14% 260 260 0% Beverly Hills 90210 15 8 88% 1,590 2,140 -26% 1 2 -50% 746 738 1% Beverly Hills 90211 1 1 0% 875 875 0% 1 1 0% 804 1,240 -35% Beverly Hills 90212 2 3 -33% 467 2,335 -80% 3 0 N/A 875 N/A N/A Burbank 91501 5 4 25% 602 584 3% 7 6 17% 260 358 -27% Burbank 91502 1 0 N/A 327 N/A N/A 5 0 N/A 325 N/A N/A Burbank 91504 15 10 50% 610 432 41% 1 2 -50% 319 430 -26%

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34 LOS ANGELES BUSINESS JOURNAL REAL ESTATE JUNE 13, 2011

May 2011 New and Existing Home Sales in L.A. County Condo Sales

Median Price Median Price Home Sales Percent (thousands) Percent Condo Sales Percent (thousands) Percent Community ZIP Code 20111 20102 Change 2011 2010 Change 20111 20102 Change 2011 2010 Change

Burbank 91505 17 16 6% $465 $502 -7% 12 4 200% $390 $414 -6% Burbank 91506 13 14 -7% 485 510 -5% 0 2 N/A N/A 324 N/A Calabasas 91302 22 20 10% 952 1,295 -26% 7 5 40% 300 290 3% Canoga Park 91303 7 4 75% 359 292 23% 8 6 33% 199 117 70% Canoga Park 91304 29 16 81% 380 380 0% 5 7 -29% 225 131 72% Canyon Country 91351 13 12 8% 257 252 2% 9 11 -18% 310 191 62% Canyon Country 91387 35 27 30% 395 449 -12% 24 14 71% 198 151 31% Carson 90745 25 16 56% 300 300 0% 19 6 217% 220 248 -11% Carson 90746 18 21 -14% 347 350 -1% 1 0 N/A 270 N/A N/A Castaic 91384 21 30 -30% 350 412 -15% 7 2 250% 239 187 28% Cerritos 90703 24 27 -11% 490 550 -11% 5 5 0% 195 235 -17% Chatsworth 91311 21 18 17% 429 524 -18% 10 15 -33% 292 300 -3% City of Commerce 90040 3 5 -40% 246 245 0% 0 0 N/A N/A N/A N/A Claremont 91711 26 15 73% 442 472 -6% 4 5 -20% 395 390 1% Compton 90220 34 26 31% 182 182 0% 9 2 350% 230 222 4% Compton 90221 30 24 25% 207 195 6% 2 2 0% 328 306 7% Compton 90222 20 25 -20% 193 175 10% 2 2 0% 108 180 -40% Covina 91722 16 18 -11% 330 308 7% 5 4 25% 310 284 9% Covina 91723 11 9 22% 310 365 -15% 1 1 0% 200 355 -44% Covina 91724 11 14 -21% 400 402 0% 8 5 60% 234 210 11% Culver City 90230 13 7 86% 729 552 32% 12 18 -33% 289 329 -12% Culver City 90232 4 4 0% 841 762 10% 3 3 0% 800 484 65% Diamond Bar 91765 36 31 16% 464 510 -9% 22 20 10% 249 348 -28% Downey 90240 12 19 -37% 356 425 -16% 2 0 N/A 294 N/A N/A Downey 90241 20 13 54% 324 390 -17% 2 4 -50% 265 365 -27% Downey 90242 20 17 18% 322 350 -8% 6 5 20% 254 324 -22% Duarte/Bradbury 91010 14 13 8% 286 385 -26% 1 5 -80% 335 230 46% El Monte 91731 5 11 -55% 275 335 -18% 3 2 50% 238 170 40% El Monte 91732 23 12 92% 300 327 -8% 6 8 -25% 235 258 -9% El Monte/South El Monte 91733 16 11 45% 292 328 -11% 2 5 -60% 216 320 -33% El Segundo 90245 10 4 150% 747 850 -12% 4 3 33% 623 649 -4% Encino 91316 12 13 -8% 490 585 -16% 13 10 30% 205 304 -33% Encino 91436 10 12 -17% 1,175 968 21% 1 2 -50% 770 589 31% Gardena 90247 17 11 55% 315 345 -9% 8 6 33% 304 183 66% Gardena 90249 20 6 233% 346 358 -3% 2 1 100% 292 465 -37% Glendale 91201 5 9 -44% 313 525 -40% 3 3 0% 272 322 -16% Glendale 91202 5 7 -29% 840 684 23% 5 6 -17% 310 292 6% Glendale 91203 1 1 0% 199 380 -48% 3 6 -50% 505 312 62% Glendale 91205 9 4 125% 460 442 4% 9 3 200% 255 375 -32% Glendale 91206 13 8 63% 625 728 -14% 12 13 -8% 270 285 -5% Glendale 91207 6 5 20% 684 770 -11% 5 3 67% 220 295 -25% Glendale 91208 13 6 117% 615 708 -13% 1 0 N/A 279 N/A N/A Glendale/La Crescenta 91214 26 19 37% 545 585 -7% 9 2 350% 492 318 55% Glendora 91740 11 21 -48% 332 375 -11% 3 1 200% 408 355 15% Glendora 91741 15 18 -17% 510 490 4% 3 8 -63% 310 453 -32% Granada Hills 91344 31 51 -39% 397 380 4% 6 4 50% 352 199 77% Hacienda Heights 91745 34 30 13% 459 400 15% 3 4 -25% 185 270 -31% Harbor City 90710 7 10 -30% 279 352 -21% 9 6 50% 275 330 -17% Hawaiian Gardens 90716 6 1 500% 254 215 18% 3 3 0% 215 150 43% Hawthorne 90250 29 21 38% 364 375 -3% 12 9 33% 392 440 -11% Hermosa Beach 90254 9 12 -25% 1,201 865 39% 8 3 167% 958 1,090 -12% Huntington Park 90255 19 17 12% 233 248 -6% 8 5 60% 138 170 -19% Inglewood 90301 6 7 -14% 262 300 -13% 4 7 -43% 119 145 -18% Inglewood 90302 9 8 13% 230 238 -3% 13 5 160% 140 112 25% Inglewood 90303 9 9 0% 290 305 -5% 1 2 -50% 357 280 28% Inglewood 90305 8 11 -27% 344 300 15% 2 2 0% 308 301 2% L.A. 90011 32 25 28% 196 150 31% 6 9 -33% 267 160 67% L.A. 90062 15 18 -17% 239 258 -7% 4 1 300% 230 280 -18% L.A./Baldwin Hills 90008 8 20 -60% 352 430 -18% 8 7 14% 298 278 7% L.A./Baldwin Hills 90056 3 3 0% 500 627 -20% 0 0 N/A N/A N/A N/A L.A./Bel-Air 90077 9 4 125% 1,171 1,335 -12% 3 2 50% 1,078 845 28% L.A./Brentwood 90049 18 11 64% 1,415 1,377 3% 10 7 43% 648 790 -18% L.A./Brooklyn Heights 90033 5 0 N/A 240 N/A N/A 1 0 N/A 280 N/A N/A L.A./Chesterfield Square 90047 33 27 22% 229 205 12% 6 3 100% 247 235 5% L.A./City College 90029 3 2 50% 367 525 -30% 2 0 N/A 430 N/A N/A L.A./City Terrace 90063 25 18 39% 205 240 -15% 2 3 -33% 337 144 134% L.A./Civic Center 90012 1 0 N/A 160 N/A N/A 8 0 N/A 300 N/A N/A L.A./Crenshaw District 90016 24 19 26% 291 265 10% 5 9 -44% 139 295 -53% L.A./Eagle Rock 90041 14 9 56% 479 500 -4% 4 1 300% 428 100 328% L.A./East L.A. 90022 23 15 53% 242 255 -5% 7 3 133% 275 291 -5% L.A./East L.A. 90023 7 5 40% 190 309 -39% 1 1 0% 179 260 -31% L.A./Echo Park 90026 11 17 -35% 390 343 14% 0 4 N/A N/A 758 N/A L.A./El Sereno 90032 22 20 10% 250 225 11% 3 0 N/A 150 N/A N/A L.A./Exposition Park 90037 16 15 7% 212 229 -7% 8 1 700% 280 355 -21% L.A./Hancock Park 90004 12 8 50% 868 692 25% 5 11 -55% 380 410 -7% L.A./Highland Park 90042 23 24 -4% 325 330 -2% 3 14 -79% 302 304 -1% L.A./Hollywood 90028 1 2 -50% 850 675 26% 3 6 -50% 603 460 31% L.A./Hollywood Hills 90068 19 23 -17% 810 912 -11% 9 4 125% 473 326 45% L.A./Koreatown 90005 2 2 0% 560 585 -4% 8 6 33% 400 340 18% L.A./Koreatown 90006 4 1 300% 246 530 -54% 9 8 13% 360 312 15% L.A./Lincoln Heights 90031 5 5 0% 199 295 -33% 4 2 100% 291 279 4% L.A./Los Feliz 90027 16 14 14% 934 934 0% 6 3 100% 372 390 -5%

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JUNE 13, 2011 REAL ESTATE LOS ANGELES BUSINESS JOURNAL 35

May 2011 New and Existing Home Sales in L.A. County Condo Sales

Median Price Median Price Home Sales Percent (thousands) Percent Condo Sales Percent (thousands) Percent Community ZIP Code 20111 20102 Change 2011 2010 Change 20111 20102 Change 2011 2010 Change

L.A./Mar Vista 90066 29 22 32% $630 $693 -9% 4 8 -50% $541 $436 24% L.A./Mid-City 90019 21 16 31% 505 548 -8% 6 0 N/A 500 N/A N/A L.A./Mid-Wilshire 90036 8 6 33% 898 832 8% 2 3 -33% 692 432 60% L.A./Mt. Washington 90065 20 20 0% 400 436 -8% 4 2 100% 218 427 -49% L.A./Palms 90034 10 14 -29% 530 746 -29% 4 6 -33% 366 441 -17% L.A./Rancho Park 90064 16 12 33% 852 803 6% 6 8 -25% 483 465 4% L.A./Silver Lake 90039 18 11 64% 516 430 20% 2 1 100% 695 590 18% L.A./South Figueroa 90007 7 5 40% 444 385 15% 1 0 N/A 615 N/A N/A L.A./South L.A. 90001 24 17 41% 188 185 2% 3 2 50% 250 232 8% L.A./South L.A. 90003 33 31 6% 190 193 -2% 4 5 -20% 255 240 6% L.A./South L.A. 90044 27 35 -23% 215 208 3% 7 5 40% 292 215 36% L.A./South L.A. 90061 15 11 36% 190 195 -3% 0 4 N/A N/A 274 N/A L.A./South L.A. 90248 5 3 67% 295 430 -31% 3 0 N/A 180 N/A N/A L.A./South Park 90015 3 0 N/A 315 N/A N/A 10 0 N/A 302 N/A N/A L.A./South Robertson 90035 8 6 33% 920 812 13% 6 4 50% 470 575 -18% L.A./Watts 90002 34 32 6% 180 164 10% 3 1 200% 142 90 58% L.A./West Adams 90018 20 13 54% 254 280 -9% 2 3 -33% 328 260 26% L.A./West Hollywood 90046 18 19 -5% 962 760 27% 13 8 63% 515 494 4% L.A./West Hollywood 90048 13 9 44% 1,272 1,150 11% 7 4 75% 620 762 -19% L.A./West Hollywood 90069 10 4 150% 1,515 1,225 24% 25 18 39% 400 446 -10% L.A./West L.A. 90025 5 4 25% 908 788 15% 20 18 11% 574 542 6% L.A./Westchester 90045 24 15 60% 627 659 -5% 4 6 -33% 528 402 31% L.A./Westlake 90057 1 1 0% 440 900 -51% 2 3 -33% 186 245 -24% L.A./Westwood 90024 3 9 -67% 1,872 1,400 34% 12 16 -25% 402 486 -17% L.A./Willowbrook 90059 26 15 73% 174 173 1% 2 3 -33% 195 200 -3% L.A./Windsor Hills 90043 35 40 -13% 265 281 -6% 1 4 -75% 239 208 15% L.A./Windsor Square 90020 4 1 300% 2,435 700 248% 3 10 -70% 230 232 -1% La Canada Flintridge 91011 17 22 -23% 995 1,078 -8% 0 1 N/A N/A 460 N/A La Habra 90631 34 23 48% 404 397 2% 10 10 0% 175 164 7% La Mirada 90638 32 25 28% 365 385 -5% 5 4 25% 260 302 -14% La Puente 91744 44 43 2% 250 255 -2% 5 6 -17% 222 285 -22% La Puente 91746 13 12 8% 270 266 2% 2 1 100% 190 350 -46% La Verne 91750 20 18 11% 392 356 10% 4 0 N/A 400 N/A N/A Lake Hughes 93532 6 6 0% 156 172 -9% 0 0 N/A N/A N/A N/A Lakewood 90712 25 29 -14% 350 395 -11% 2 3 -33% 310 362 -14% Lakewood 90713 26 16 63% 392 415 -6% 2 0 N/A 366 N/A N/A Lakewood 90715 11 10 10% 310 375 -17% 4 3 33% 296 205 44% Lancaster 93534 34 44 -23% 79 100 -21% 8 5 60% 76 90 -16% Lancaster 93535 84 109 -23% 104 125 -17% 15 10 50% 99 128 -23% Lancaster 93536 107 80 34% 184 180 2% 10 9 11% 150 195 -23% Lawndale 90260 10 9 11% 326 335 -3% 7 3 133% 275 355 -23% Lennox 90304 9 4 125% 235 230 2% 1 0 N/A 177 N/A N/A Littlerock 93543 15 17 -12% 115 115 0% 0 1 N/A N/A 95 N/A Lomita 90717 5 11 -55% 462 470 -2% 1 2 -50% 320 350 -9% Long Beach 90802 7 1 600% 329 375 -12% 41 30 37% 160 224 -29% Long Beach 90804 6 9 -33% 312 400 -22% 15 14 7% 205 232 -12% Long Beach 90805 45 56 -20% 220 255 -14% 9 10 -10% 185 260 -29% Long Beach 90806 20 13 54% 328 315 4% 4 8 -50% 278 292 -5% Long Beach 90807 25 21 19% 425 460 -8% 7 10 -30% 157 222 -29% Long Beach 90808 34 27 26% 429 515 -17% 1 0 N/A 330 N/A N/A Long Beach 90810 18 17 6% 247 230 7% 4 3 33% 166 260 -36% Long Beach 90813 5 14 -64% 250 244 2% 11 8 38% 200 195 3% Long Beach 90814 8 6 33% 682 533 28% 7 3 133% 224 320 -30% Long Beach 90815 35 17 106% 420 492 -15% 5 4 25% 262 270 -3% Long Beach/Belmont Shore 90803 13 10 30% 705 684 3% 11 9 22% 325 326 0% Lynwood 90262 29 25 16% 230 205 12% 3 4 -25% 305 197 55% Malibu 90265 10 10 0% 1,675 1,435 17% 6 3 100% 652 425 53% Manhattan Beach 90266 31 30 3% 1,275 1,485 -14% 9 6 50% 1,590 1,808 -12% Marina del Rey 90292 5 2 150% 1,200 1,210 -1% 18 13 38% 572 570 0% Maywood 90270 5 2 150% 200 357 -44% 2 0 N/A 312 N/A N/A Mission Hills 91345 7 15 -53% 305 327 -7% 3 2 50% 155 308 -50% Monrovia 91016 22 25 -12% 382 470 -19% 11 7 57% 337 385 -12% Montebello 90640 17 25 -32% 330 364 -9% 14 9 56% 199 240 -17% Monterey Park 91754 18 11 64% 438 492 -11% 10 1 900% 396 618 -36% Monterey Park 91755 7 5 40% 435 447 -3% 10 5 100% 365 425 -14% Montrose 91020 1 1 0% 495 490 1% 1 5 -80% 295 370 -20% Newhall 91321 11 15 -27% 405 390 4% 16 10 60% 164 278 -41% North Hills 91343 18 35 -49% 345 365 -5% 9 11 -18% 166 160 4% North Hollywood 91601 15 10 50% 325 422 -23% 9 16 -44% 370 385 -4% North Hollywood 91602 8 4 100% 908 526 73% 14 7 100% 378 344 10% North Hollywood 91605 24 19 26% 310 315 -2% 3 3 0% 299 260 15% North Hollywood 91606 17 16 6% 300 330 -9% 2 10 -80% 535 262 104% Northridge 91324 15 11 36% 400 373 7% 4 0 N/A 244 N/A N/A Northridge 91325 10 8 25% 420 378 11% 6 6 0% 208 332 -37% Northridge 91326 26 28 -7% 590 632 -7% 8 5 60% 353 370 -5% Norwalk 90650 62 60 3% 285 285 0% 13 5 160% 157 220 -29% Pacific Palisades 90272 17 4 325% 1,568 1,900 -17% 6 2 200% 755 708 7% Pacoima 91331 46 45 2% 260 260 0% 7 15 -53% 142 142 0% Palmdale 93550 71 74 -4% 120 125 -4% 12 21 -43% 118 105 12% Palmdale 93551 73 75 -3% 205 211 -3% 8 7 14% 184 160 15% Palmdale 93552 55 64 -14% 154 146 5% 7 3 133% 144 115 25% Palmdale 93591 16 6 167% 84 74 14% 2 2 0% 78 64 22%

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36 LOS ANGELES BUSINESS JOURNAL REAL ESTATE JUNE 13, 2011

May 2011 New and Existing Home Sales in L.A. County Condo Sales

Median Price Median Price Home Sales Percent (thousands) Percent Condo Sales Percent (thousands) Percent Community ZIP Code 20111 20102 Change 2011 2010 Change 20111 20102 Change 2011 2010 Change

Palos Verdes Estates 90274 21 22 -5% $1,250 $1,262 -1% 5 3 67% $615 $305 102% Panorama City 91402 13 21 -38% 278 285 -2% 13 15 -13% 156 155 1% Paramount 90723 6 9 -33% 245 220 11% 13 11 18% 150 138 9% Pasadena 91101 1 1 0% 500 172 191% 9 8 13% 420 346 21% Pasadena 91103 8 12 -33% 702 395 78% 8 1 700% 445 465 -4% Pasadena 91104 21 27 -22% 505 580 -13% 11 4 175% 460 283 63% Pasadena 91105 6 5 20% 995 702 42% 4 4 0% 376 604 -38% Pasadena 91106 7 2 250% 1,205 1,362 -12% 19 17 12% 279 475 -41% Pasadena 91107 27 16 69% 670 647 4% 7 5 40% 385 390 -1% Pearblossom 93553 1 1 0% 37 170 -78% 0 0 N/A N/A N/A N/A Phillips Ranch 91766 39 47 -17% 237 210 13% 7 7 0% 170 155 10% Pico Rivera 90660 29 20 45% 265 300 -12% 6 1 500% 211 323 -35% Playa del Rey 90293 2 2 0% 1,031 904 14% 9 10 -10% 330 390 -15% Pomona 91767 30 34 -12% 232 215 8% 9 5 80% 210 171 23% Pomona 91768 29 27 7% 209 221 -5% 2 3 -33% 118 160 -26% Rancho Palos Verdes 90275 24 20 20% 990 1,060 -7% 8 8 0% 448 652 -31% Redondo Beach 90277 17 16 6% 892 837 7% 22 23 -4% 598 699 -14% Redondo Beach 90278 12 16 -25% 592 602 -2% 25 25 0% 635 630 1% Reseda 91335 60 49 22% 306 335 -9% 9 11 -18% 230 180 28% Rosemead 91770 20 19 5% 422 337 25% 5 7 -29% 285 336 -15% Rowland Heights 91748 21 26 -19% 415 415 0% 5 2 150% 175 200 -13% San Dimas 91773 21 14 50% 420 404 4% 3 3 0% 215 227 -5% San Fernando 91340 16 18 -11% 260 210 24% 0 6 N/A N/A 200 N/A San Gabriel 91775 15 18 -17% 646 668 -3% 1 4 -75% 362 403 -10% San Gabriel 91776 6 10 -40% 438 430 2% 2 4 -50% 396 429 -8% San Marino 91108 14 14 0% 1,488 1,690 -12% 0 1 N/A N/A 1,170 N/A San Pedro 90731 10 18 -44% 419 462 -9% 5 5 0% 210 325 -35% San Pedro 90732 7 11 -36% 544 590 -8% 12 5 140% 305 290 5% Santa Clarita 91350 35 24 46% 355 384 -8% 17 12 42% 239 282 -15% Santa Clarita 91390 24 13 85% 421 510 -17% 1 0 N/A 269 N/A N/A Santa Fe Springs 90670 6 6 0% 305 298 2% 6 0 N/A 302 N/A N/A Santa Monica 90402 4 4 0% 2,116 985 115% 5 1 400% 1,015 690 47% Santa Monica 90403 2 1 100% 1,454 1,750 -17% 12 4 200% 755 788 -4% Santa Monica 90404 1 1 0% 625 800 -22% 10 6 67% 409 524 -22% Santa Monica 90405 11 6 83% 906 794 14% 11 13 -15% 475 691 -31% Sherman Oaks 91403 8 10 -20% 822 906 -9% 2 10 -80% 316 355 -11% Sherman Oaks 91423 15 13 15% 635 745 -15% 13 5 160% 350 370 -5% Sierra Madre 91024 5 8 -38% 800 738 8% 2 1 100% 404 570 -29% Signal Hill 90755 6 4 50% 470 538 -13% 8 6 33% 228 334 -32% South Gate 90280 33 38 -13% 239 230 4% 6 3 100% 285 193 48% South Pasadena 91030 17 11 55% 882 825 7% 6 6 0% 450 422 7% Stevenson Ranch 91381 10 19 -47% 648 680 -5% 7 10 -30% 255 304 -16% Studio City 91604 22 14 57% 728 1,016 -28% 7 13 -46% 450 440 2% Sun Valley 91352 20 24 -17% 260 302 -14% 2 3 -33% 301 239 26% Sunland 91040 14 14 0% 368 358 3% 2 4 -50% 263 309 -15% Sylmar 91342 43 42 2% 315 318 -1% 29 34 -15% 200 332 -40% Tarzana 91356 14 13 8% 688 660 4% 19 13 46% 220 230 -4% Temple City 91780 15 16 -6% 505 552 -9% 6 4 50% 492 418 18% Topanga 90290 8 4 100% 870 635 37% 0 0 N/A N/A N/A N/A Torrance 90501 18 12 50% 364 366 -1% 8 6 33% 324 425 -24% Torrance 90502 9 6 50% 322 378 -15% 14 5 180% 222 160 39% Torrance 90503 11 19 -42% 589 679 -13% 14 11 27% 440 455 -3% Torrance 90504 12 13 -8% 459 475 -3% 3 0 N/A 285 N/A N/A Torrance 90505 13 19 -32% 649 669 -3% 3 5 -40% 339 400 -15% Tujunga 91042 19 22 -14% 283 368 -23% 7 7 0% 265 305 -13% Valencia 91354 23 25 -8% 435 453 -4% 19 25 -24% 300 330 -9% Valencia 91355 25 17 47% 375 406 -8% 10 18 -44% 410 242 69% Valley Village 91607 9 14 -36% 460 648 -29% 4 6 -33% 352 275 28% Van Nuys 91401 20 15 33% 448 460 -3% 4 6 -33% 344 370 -7% Van Nuys 91405 6 10 -40% 319 334 -4% 5 9 -44% 131 155 -15% Van Nuys 91406 22 34 -35% 310 342 -9% 8 6 33% 198 200 -1% Van Nuys 91411 7 9 -22% 436 446 -2% 3 5 -40% 350 315 11% Venice 90291 14 10 40% 1,025 656 56% 2 3 -33% 858 665 29% Vernon 90058 1 0 N/A 63 N/A N/A 0 0 N/A N/A N/A N/A Walnut 91789 21 30 -30% 587 548 7% 4 0 N/A 278 N/A N/A West Covina 91790 15 27 -44% 320 350 -9% 0 2 N/A N/A 344 N/A West Covina 91791 17 14 21% 370 501 -26% 6 3 100% 305 268 14% West Covina 91792 18 19 -5% 350 375 -7% 9 8 13% 200 250 -20% West Hills 91307 24 15 60% 465 450 3% 1 1 0% 360 289 25% Westlake Village 91361 22 17 29% 718 760 -6% 5 6 -17% 295 285 4% Westlake Village 91362 30 18 67% 610 660 -8% 11 8 38% 365 485 -25% Whittier 90601 16 20 -20% 340 395 -14% 6 5 20% 228 260 -12% Whittier 90602 9 8 13% 285 276 3% 2 3 -33% 288 230 25% Whittier 90603 16 10 60% 385 382 1% 2 1 100% 339 409 -17% Whittier 90604 24 19 26% 320 350 -9% 4 2 100% 199 198 1% Whittier 90605 21 29 -28% 310 320 -3% 1 4 -75% 575 156 269% Whittier 90606 15 19 -21% 293 279 5% 3 0 N/A 215 N/A N/A Wilmington 90744 17 8 113% 225 248 -9% 3 3 0% 262 165 59% Winnetka 91306 24 29 -17% 342 363 -6% 13 17 -24% 126 235 -46% Woodland Hills 91364 21 29 -28% 570 525 9% 2 3 -33% 317 515 -38% Woodland Hills 91367 27 21 29% 499 526 -5% 21 22 -5% 253 297 -15%

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JUNE 13, 2011 REAL ESTATE LOS ANGELES BUSINESS JOURNAL 37 Zurich Signs 10-Year Lease for Downtown Offices INSURANCE: Company happening than it ever has been,” he said. industry gender barriers at a July 22 awards REAL Jeffrey Fish, managing member of JMF dinner at the Millennium Biltmore Hotel. moves from Brand Avenue ESTATE Development, could not be reached for comment. “It’s very exciting,” said honoree Liz Bra- Neither Bay nor Gardenhour were made avail- man, senior vice president of commercial in Glendale to Figueroa. JACQUELYN able for comment by the production company. lending at Skyline Financial. “I’ve been work- RYAN ing with CREW for a number of years and am URICH North America is about to be Women in Real Estate thrilled that they chose me.” the newest insurance company joining Commercial real estate attorney Trudi Also being honored are Williams & Associ- Z an industry hot spot in downtown Los Lesser used to be a rarity in her chosen ates founder Norma J. Williams; US Bank Angles. ed Brands’ Victoria’s Secret apparel chain. industry. commercial real estate Senior Vice President The firm, a unit of Swiss insurance giant Mark Tarczynski, executive vice president “When I started practicing 25 years ago, there Linda Morgan; Urban Land Institute Execu- Zurich Financial Services Ltd., signed a 10- in Colliers International’s downtown office, weren’t that many women in the profession. tive Director Katherine Perez; Pircher, year lease for about 44,000 square feet at said that to have a creative firm relocate down- When I went to my first big financing event, out Nichols & Meeks Associate Leslie Reed; and MPG Office Trust’s 777 S. Figueroa St. town is a positive sign. of 5,000 people, there were only 100 women,” Buchalter Nemer, P.C. Associate Nicole Saha- tower. The insurance firm is vacating nearly “Downtown has always been looked at as said Lesser, who now runs her own firm. gen. To RSVP by June 21, visit 50,000 square feet at another MPG building, an inhospitable place that is just good for Lesser also is president-elect of the L.A. crewla.org/programs.html. 801 N. Brand Ave. in Glendale. lawyers and bankers. With the influx of user- chapter of Commercial Real Estate Women, a Zurich will occupy a little more than two friendly services like Ralphs and all the rest, all national organization that supports women in Staff reporter Jacquelyn Ryan can be reached floors when it moves in late this summer, rais- of a sudden it’s become a much more user- the industry. And in that capacity she is honor- at [email protected] or (323) 549- ing the building’s occupancy to 79 percent. It friendly place and is much more vibrant and ing six other women who helped break down 5225, ext. 228. will join another insurance giant, American International Group Inc., in the building. Aon Corp., Marsh McLennan Cos. and Mercer Insurance Group Inc. occupy offices nearby. “It shows how attractive downtown can be,” said Rachael Zanetos, an internal leasing manager for MPG who represented the land- lord. “Its proximity to L.A. Live is a big (draw) for 777 too.” Financial details were not released, and Zanetos would not discuss nego- tiations. But sources close to the deal said that MPG approached Zurich about relocating last year, and the insurer agreed because of down- town’s superior mass transit sys- tem and a desire to be part of the area’s insurance hub. Zanetos also would not say 777 S. Figueroa. why MPG sought to move Zurich from one building it owned to another, but out- side sources speculated that it stemmed from the landlord’s desire to beef up the occupancy rate of its core downtown portfolio. MPG is downtown’s biggest Class A office landlord, with the US Bank Tower, the Gas Co. Tower and the Wells Fargo Tower in its portfolio. However, the REIT has been finan- cially struggling and has been selling non-core assets to pay down debts that totaled $3.7 bil- lion in December. Last month, it sold the Westin Pasadena Hotel for $92 million. Josh Wrobel, an MPG vice president, assist- ed Zanetos in the deal. Zurich was represented by Nathan Piehl, senior vice president at the Los Angeles office of UGL Services, a Chicago real estate management and services company.

Transforming Downtown Director Michael Bay’s Institute for Enhanced Perceptual Development also is moving downtown. The oddly named commercial-production com- pany has vacated its Venice home for the Pershing Square Building, 448 S. Hill St. The company left its Venice headquarters last week to occupy a 10,000-square-foot office in the 16-story building. The terms of the deal with landlord JMF Development LLC of Los Angeles were not released. While Bay is best known as the director of blockbuster action movies such as “Transform- ers,” he and producing partner Scott Gardenhour founded Enhanced Perceptual Development in 2001 to produce advertising, branded entertain- ment and other content. Among its clients has been brewer Anheuser-Busch Cos. and Limit- 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

38 LOS ANGELES BUSINESS JOURNAL JUNE 13, 2011 Investment Properties For Sale INDUSTRIAL INDUSTRIAL

2 101 BEAT THE BANK TO W. 3rd 100% LEASED INVESTMENT OPPORTUNITY Dodger 5 11,500 SF INDUSTRIAL WILSHIRE Stadium CLAREMONT BUSINESS PARK BLVD. 10

LOS ANGELES COUNTY VENTURA COUNTY FIGUEROA FLOWER Santa 10

Clarita ALAMEDA 60 110

• Six industrial buildings - 5 single • Quality, stable income stream tenant and 1 multi-tenant – All tenants have been in-place Simi 118 over 18 years 2 • 69,428 square feet total • Corner of Oregon & Anaheim Valley Northridge • Allows for a secondary exit strat- • Excellent opportunity to acquire a egy through the sale of individual Just East of 710 Fwy Burbank stable, fully leased business park industrial buildings to owner-users 170 • Highly desirable area within as the current leases roll - each • 2 Story With Offi ce Space, Agoura 5 the City of Claremont, off Arrow building is on a separate parcel. Hills 101 Highway, near I-10 Show Room & Work Area Hollywood Pasadena 210 Calabasas Glendale 405 5 Robert Griffi th Steven Ward Steve Warshauer Alhambra 10 West Lic 00816302 Lic 01773125 888-895-7535 Ext. 225 Covina LOS ANGELES Pomona (949) 608-2091 (949) 608-2061 Stevewarshauer2firstteam.com 1 Santa Robert.Griffi [email protected] [email protected] Monica Montebello Malibu Venice Culver City Whittier LOS ANGELES COUNTY Marina Del Rey Lynwood 5 ORANGE COUNTY Visit www.1483viaplata.com El Segundo FOR SALE Hawthorne GENERAL INDUSTRIAL SITE Manhattan Beach 4 5 miles Hermosa Beach 6 Torrance Redondo Beach Anaheim 3 Carson 1 Long Beach Rancho Palos 2 Huntington Santa Ana Verdes LONG Beach BEACH San Clemente Irvine LEGEND LOS ANGELES HARBOR HARBOR Office Costa Mesa 140,500 SF FOR SALE • Owner Will Carry Residential • State of the art • Heavy power • Warehouse & Garages Plus 1,500 corporate distribution • Excellent Long Beach SF Offi ce-.49 Acres Commercial facility location • Located Near 710 Fwy & Port of • High image offi ce area • Immediate access to Long Beach Industrial • Large yard area the port & major fwys

Land Wesley Babi 310.436.6481 Linda Martinez Lic #01822752 [email protected] 888-895-7535 Ext 216 Brokerage I Tenant Representation I Property Management I Acquisitions

COMMERCIAL Need more information on 215 AVE “I”, 1040 MANHATTAN FOR SALE: REDONDO BEACH FOR SALE: BCH BLVD, MB advertising your Investment Property? • 12 Apts (2/2’s) • 4,500 SF/Bldg & Retail • 15,747 SF/Land • Court Ordered Sale Bids due by • Sgl User or JUNE 20, 2011 re-develop • $6,500,000 • $2,900,000 Call Rosz Murray • 323.549.5225 ext. 215 Steve Miller (310) 792-3600 Steve Miller (310) 792-3600 Lic #00782584 [email protected] Lic #00782584 [email protected]

LEASING GUIDE

OFFICE FOR LEASE Showcase your property in the

D Bank Site - LA’s Premier Address LEASING GUIDE section of the Available Space: 3,200 sqft.+++ (signalized corner) LOWERE TO 750K Term Length: 3-10 years (negotiable) Los Angeles Business Journal. Lease Type: Bank branch site Rate Type: NNN Also - offi ce/retail from 3.50 Available: Immediately Contact: Arun Bhumitra, Armitra Properties Email: [email protected] Phone: (310) 994-7400 Call Rosz Murray ADDRESS: 23211 Hawthorne Blvd., Torrance, CA Originally 15 Million - property can now be purchased for 9.5 Million! 323.549.5225 ext. 215 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

JUNE 13, 2011 LOS ANGELES BUSINESS JOURNAL 39 BUSINESS MARKETPLACE RFP BUSINESS SERVICES

“For everyone who wants to think bigger, go beyond limits, and embrace the idea of possibilities, Alissa’s book provides an empowering path forward.” McCARTHY BUILDING COMPANIES, INC. - MARIANNE WILLIAMSON, best-selling author of A Return to Love Martin Luther King Jr. Medical Center Part B- Request for Technical & Cost Proposals Multi-Service Ambulatory Care Center Project Los Angeles, CA

McCarthy Building Companies, Inc. is requesting bid proposals from all qualifi ed subcontractors and sup- pliers for this Design/Build project. The scope of work includes a new four level, 138,000 square foot MACC building. The clinical departments include, but are not limited to, a pharmacy, walk-in clinic, outpatient imaging, outpatient surgery and various outpatient clinics that are currently operating in the existing MACC. The project will contain numerous typical exam, bariatric exam, special procedure and other specialty ser- vice rooms typical with the types of medical services listed. Minimum LEED silver is required. ALISSA FINERMAN Keynote Speaker, LA Business Journal - Women Making a Diff erence The new MACC Building will be physically connected on the ground fl oor to the existing North Support Building (NSB) to provide connectivity between the patient accessible support services in the NSB and What does success mean to you? clinical functions in the new MACC. The existing NSB is 51,700 square feet. Approximately 34,000 For more information about square feet of tenant improvements will be performed in the NSB to provide space for various MACC Individual and Corporate Coaching departments. This is also minor tenant improvements in the South Support Building (SSB). and speaking engagements, please contact alissa@fi nermanliving.com.

Sitework consists of parking, sidewalks, paths of travel, accessibility and emergency egress. There is www.AlissaFinerman.com also a new service yard and tech dock position for a potential CT scanner along the south side of the MACC building. * Living in Your Top 1% available on Amazon.com and the Kindle

Offsite work consists of adding a new crosswalk and traffi c signal at the new Medical Center entry drive. Additionally the project will add a left turn lane.

The deadline for Part B Technical and Cost Proposals is due 12:00 p.m., noon June 23, 2011

WORK CATEGORIES: Selective Demolition; Earthwork; Piles; Site Utilities; Asphalt; Site Concrete; Landscap- ing; Striping; Fences & Gates; Site Furnishings; Reinforcing Steel; CIP Concrete; CMU; Stonework; Structural Steel; Metal Decking; Miscellaneous Iron; Expansion Joints; Rough Carpentry; Finish Carpentry/Casework; Waterproofi ng; Building Insulation; Vapor Emissions Control; General Sheet Metal/Metal Panels/Roof Ac- cessories/Louvers; Roofi ng; Smoke Containment Systems; Joint Sealants; Doors, Frames & Hardware; Ac- cess Doors; Coiling Doors/Grilles; Glass & Glazing; Lath, Plaster & Drywall; Ceramic Tile; Terrazzo; Acousti- cal Ceilings; Resilient Flooring, Carpet & Base; FRP; Painting & Wallcovering; Markerboards & Tackboards; Cubicle Curtains/Tracks; Wall Protection; Lockers;Signs and Graphics; Fire Extinguishers; Shelving; Tele- phone Specialties; Toilet Compartments/Accessories; Projection Screens; Medical Equipment; Equipment; Entrance Mats; Window Coverings; Radiation Protection; Special Structures; Elevators; Pneumatic Tube Systems; Fire Sprinkler System; Building Controls.

Do not contact the County, Architect or any Consultants. All questions will be sent to Robert Bruns, Pre- construction Director via fax (949-756-6841), or email ([email protected])

• This is a Prevailing Wage Project. • A 100% Performance and Payment Bond from an admitted surety will be required upon award of contract for all trades. • McCarthy is signatory to union agreements with the Carpenters, Laborers, and Cement Masons. Sub- contractors will comply with such labor agreements for all of Subcontractor’s Work falling within the jurisdiction of such labor agreements. Subcontractor agrees to require its subcontractors and their subcontractors, if any, to be bound in a like manner. • McCarthy is an equal opportunity employer and encourages qualifi ed Community Business Enterprises (CBE) which includes business enterprises owned by disabled veterans, disadvantaged business en- terprises, and minority and women-owned business enterprises. The County has established an as- pirational goal that 25 percent of all County contract dollars shall go to certifi ed CBEs. McCarthy also endeavors to hire Local Small Business Enterprises (Local SBE) businesses and Local Worker Hiring.

OBTAINING DOCUMENTS: Subcontractors are responsible for all costs of blueprinting and shipping. Bid Documents may be viewed and/or purchased online at C2 Planwell site: Go to www.c2repro.com and Click on Place an Order. Get Noticed. Click on Planwell Enterprise and then click the Planwell Enterprise link. Showcase your ad in the Log in under “Guest Access” BUSINESS MARKETPLACE Project Number:C2RP_MLK-MACC section of the Project Password: mccarthy (Case Sensitive) Los Angeles Business Journal

20401 S.W. Birch St, Suite 300, Newport Beach, CA 92660 Ph (949) 851-8383/Fax (949) 756-6841 Call Rosz Murray 323.549.5225 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

40 LOS ANGELES BUSINESS JOURNAL JUNE 13, 2011 BUSINESS MARKETPLACE AIRCRAFT CHARTER FINANCIAL SERVICES

Aircraft Charter Service Aircraft Sales Aircraft Management 13 Years Established Worldwide Service No Membership Fees 24 / 7 Personal Service (310) 379-4448 ALTITUDEAVIATION.COM

CAREER SERVICES 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

JUNE 13, 2011 LOS ANGELES BUSINESS JOURNAL 41 BUSINESS MARKETPLACE LEGAL SERVICES

WANT TO NEED CONSERVE CASH TO SUE? WHEN YOU DO?

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42 LOS ANGELES BUSINESS JOURNAL JUNE 13, 2011

‘I began my business here when I was in high school and Los Angeles remains my home. I would love nothing more than to have our events return to the Coliseum in the future.’ PASQUALE ROTELLA, Insomniac Inc. Events: Electric Daisy About to Bloom in Vegas

Continued from page 1 118 people were arrested, mostly on charges of drug possession, and more than 220 medical cases, including overdoses, were reported. Up questions over the event’s future at the L.A. to 120 of them led to hospitalizations. Coliseum, dealing a serious setback to Rotel- Then, Sasha Rodriguez, a 15-year-old from la’s campaign to make the rave a regular fea- Atwater, who attended the festival, died of a ture of L.A.’s entertainment scene. suspected drug overdose. The event had an age Electric Daisy Carnival, or EDC, will take requirement of 16, but some people later said place this month not at the Coliseum but in Las no one checked identification. Vegas. He’s trying to put the best spin on things. After that, a number of doctors and city “There have been some extra challenges, officials spoke out against the event and others but we’ve learned a lot,” he said of his last dif- like it where the use of the illegal hallucinogen ficult year. “What we do this year will be a big MDMA, better known as ecstasy, is common. improvement versus last year.” After EDC, Insomniac released a statement The loss of the festival does have a wider calling the girl’s death a “tragic circumstance” impact. EDC did attract tourists to Los Ange- and promised to review the event and its safe- les, even from around the world, and the Col- ty procedures. But Rotella stands by the safety iseum will likely lose money this year with- of his events. out the event. “The issues that arise in our events are no dif- Rotella hopes that eventually, his biggest ferent than any other mass gathering,” he said. event will return to its birthplace. “There’s been focus on what we do where there “I grew up in Los Angeles, I began my hasn’t been focus on other music festivals.” business here when I was in high school and Insomniac has implemented a higher age Los Angeles remains my home,” he said when limit of 18 and now uses ID scanners. The he announced the move to Las Vegas. “I company has started providing free water would love nothing more than to have our and has designated an employee whose sole events return to the Coliseum in the future.” job is managing security; in the past, that responsibility was spread among several Party machine staff members. Insomniac organizes club parties, concerts Fun Times: Participants at a past Electric Daisy Festival at the L.A. Coliseum. Insomniac hires security from two separate and festivals year round. It also produces small- companies for events and also pays for police er EDC festivals in Orlando, Fla., Denver, Dal- days. Rotella expects attendance to reach 100,000 duce, could generate revenue of more than $20 officers and medical staff. Rotella estimates las and Puerto Rico. And the company still pro- people a day during this year’s festival from June million from ticket sales alone. that there will be one police officer for every duces smaller raves in Southern California, plus 24 to 26 at the Las Vegas Motor Speedway. Rotella said EDC isn’t just a concert expe- 500 people at EDC in Las Vegas plus 800 parties at clubs and some concerts in L.A. Single-day tickets to the Vegas festival – rience. The other activities keep people up all security staff. But the 20-person company is best known which includes performances by DJs Tiesto night, enjoying the art, the circus acts and the Stephen Clayton, who runs Corona event for EDC, a summer music festival that features and David Guetta – are already sold out but environment. production company Soundskilz Productions star DJs, circus performers, carnival rides and were offered for $75. A three-day pass was “It’s important for us to have a unique, special and also provides event consulting, said that art installations. This year will feature tall art originally priced at $180 but was bumped up to experience,” he said. “People really get involved. organizers of big events need to keep everyone installations that look like teepees. $215 in the weeks leading up to the event. VIP That energy is why our events keep growing.” safe, as well as maintain the perception of safe- The first EDC in 1997 at the Shrine Auditori- tickets are priced even higher. But even as raves moved up from under- ty even amid challenging situations. um drew 5,000 people. Last year, the event at the Those prices imply the event, which cost ground, drug use followed. L.A. Coliseum brought in 185,000 over two between $12 million and $15 million to pro- Over the event’s two days last year, about Please see RAVE page 43 BUSINESS MARKETPLACE EMPLOYMENT OPPORTUNITIES

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JUNE 13, 2011 LOS ANGELES BUSINESS JOURNAL 43 Rave: Up From the Underground Hospitality: Bill from Los Angeles because the Las Vegas Insomniac on his own, paying DJs and venues Mandates What Continued from page 42 Motor Speedway was the best venue available. after he received money from ticket sales at the “I’d been looking at Vegas for years and door. Today, Insomniac finances its events Goes on the Beds “If you do it right,” he said, “you’ll have it’s the right time now,” he said. through ticket sales, event sponsorships and problems. But your guests won’t know you DJ Mackovets, who has worked on the merchandise – such as T-shirts, water bottles Continued from page 6 have problems.” organization of major events, including the and key chains. 2011 Senior Games in Houston, two Super Rotella would not disclose the company’s less often because of environmentally friendly Rave reactions Bowls and the 1996 Summer Olympics in financials but said “things have been good” initiatives that give guests the option of using After last year’s EDC, the Coliseum placed Atlanta, said it’s easier to host a large-scale for the company and business has been grow- the same bed sheets during a stay. a temporary ban on new contracts for raves; event when the city is on board. ing every year. “There is no sound industry-backed or sci- the ban was soon lifted. It was later revealed “You’ve got to make sure you’ve got all the “There are some events that do better than entific research that says fitted sheets reduce that one of the venue’s administrators, Todd people who will be impacted by the production of others,” he said. “There are some events that I injuries,” said the Hotel Association’s Amano. DeStefano, was also working your event,” he said. “If you’re don’t look at as a loss but as an investment. “If it did, hotels would have done that a long as a consultant for Insomniac. putting on an event of some sig- With new festival brands, the first year we time ago because they would have said, ‘We Coliseum Manager Patrick LABJ POLL nificant scope, you need to have might lose a substantial amount of money, can’t have injured workers. We need to have Lynch, who authorized the Should raves return to the them at the table as part of the but I have confidence that we’re building healthy workers.’” dual employment, resigned. L.A. Coliseum? planning process.” something there.” What’s more, industry insiders said some The commission scheduled labusinessjournal.com EDC has become a boon to the local hotels already provide tools for housekeepers EDC for review in March. Economic impact tourism industry, with people traveling from such as wedges, which are placed under a mat- Meanwhile, Insomniac Rotella, the son of Italian other cities, states and even countries to attend. tress to hold it up while the bed is being made. also sustained backlash from another local immigrants, became interested in event promo- Insomniac commissioned a report from Bea- But supporters of the bill, including Unite venue. The L.A. Convention Center can- tion when he was a high school student attend- con Economics to show the economic impact Here, argue it won’t take much time or money celed an Insomniac concert following EDC, ing raves as an electronic music fan. He staged of EDC in Los Angeles. Beacon claimed last for a hotel to start ordering fitted sheets. citing the problems at that event. Insomniac his first event in 1992 and founded Insomniac year’s festival generated nearly $42 million for has since sued the Convention Center and the following year. At first, the company hosted the city through job creation, taxes and tourism the city alleging that the venue breached its weekly events, often at secret locations revealed revenue to hotels and restaurants. ‘There is no sound contract. Rotella said Insomniac is working on the day of the rave. Perhaps ironically, Rotella expects the to settle the suit out of court. When he began to focus on large events in upcoming Vegas EDC to be the largest event industry-backed or scientific Some Coliseum commissioners supported 1995, he initially had a hard time getting big Insomniac has ever staged. He credits research that says fitted the return of the EDC, but others opposed it. venues to sign on. increasing attendance at his festivals to the sheets reduce injuries. Amid that uncertainty, Insomniac announced “At the time, no one was producing events rise in popularity of dance music. If it did, hotels would have in February that it would move EDC to the at legitimate venues like the L.A. Coliseum or “There are all kinds of people who are lov- Las Vegas Motor Speedway this year. the Sports Arena,” he said. “It was a challenge ing it and it’s beautiful to see,” he said. “We’re done that a long time ago.’ But commission President David Israel convincing them that the music genre was very fortunate to have a loyal fan base.” ROBERT AMANO, told the Los Angeles Times in February that something that was popular and manageable.” And even though he has an extended con- Hotel Association of Los Angeles EDC generated about $800,000 for the com- His big break came when he hosted the first tract with the Las Vegas Motor Speedway, he mission. Without the event, the Coliseum EDC at the Shrine in 1997. That led to the Sports said he’s open to staging an additional EDC could lose more than $320,000 for the fiscal Arena and later the Coliseum for even bigger event back in L.A. year, which ends this month. shows, which he likes to call festivals, not raves. “We’re still based in Los Angeles,” he Leigh Shelton, a spokeswoman for Unite Rotella said he decided to take EDC away During his early days, Rotella funded said, “and our main market is California.” Here Local 11, said the union has seen the number of injured housekeepers rise in recent years as hotels have switched to more luxuri- ous mattresses that are heavier to lift. The bed sheet battle comes as some local Government: Vendors Harvest Fee Cuts hotels are in contract negotiations with Unite Here. For Andaz West Hollywood, the fight jot a few notes down.” “I have no problem with reasonable fee over fitted or flat plays into the union’s effort Continued from page 1 In late 2008, after complaints from ven- levels,” said Sam Lewis, son of the owner of to negotiate new contracts for its workers and dors, county public health officials reduced Fullerton-based Dry Dock Fish Co. “But I Hyatt workers nationwide. effect on July 1. However, the new schedule the fees to the current levels: $232 a year for don’t understand how you can do the same Unite Here last year filed a complaint with has been pushed back at least a couple of stalls with prepackaged foods and about $600 number and level of inspections in Orange Cal/OSHA against the Andaz over bedmaking- months after the County Board of Supervisors a year for stalls where food is cooked on-site. and San Diego counties and yet be charged related injuries. The agency inspected the heard complaints about fee hikes, particularly They also added a $39 fee for booths that sell four times as much in L.A. Something just Andaz in November and issued a memoran- from restaurants, as reported in the May 16th prepackaged foods and also offer samples to doesn’t make sense there.” dum to the hotel in May. The memorandum edition of the Business Journal. customers. But the vendors say that while the current stated that records showed on two separate But the news that the farmers’ market ven- and proposed fees are lower, they are still out occasions housekeepers were diagnosed with dors may get a break didn’t do much to of line and should be reduced much further. repetitive motion injuries from making beds. soothe Theodoropoulos. Bellomo said the fees include travel time The agency suggested that the hotel should It was “a step in the right direction,” he ‘They still claim they to the location and paperwork processing both consider using fitted bed sheets and take other said. However, he still doesn’t believe the spend nearly an hour per before and after the inspection. But last week measures to avoid injuries. fees are legitimate. booth. They don’t spend he acknowledged that inspectors don’t spend Andaz was not cited for the injuries, but “I steal $10 from you and then I tell you any more than 10 or 15 nearly as much time as the public health Shelton of Unite Here pointed to Cal/OSHA’s I’m only going to steal $4 from you,” he said. department initially believed for travel and inspection as proof that housekeepers are get- “It’s still stealing and it’s wrong.” minutes at any of my paperwork associated with individual farm- ting injured. booths and the fee for ers’ market vendors. “It’s time to implement some solutions to Simmering conflict handing out samples is fix the problem as we are seeing from OSHA Many vendors have long harbored hard completely bogus.’ Drive time in the Andaz situation,” Shelton said. feelings over inspection fees. The problem He said the main factor was re-examining Hyatt said in its statement that Unite Here’s has intensified as farmers’ markets have MARCUS SALVEMINI, the drive time, which had been 15 minutes for charges against Hyatt hotels are being driven grown in popularity and vendors like Salvemini’s Italian Kitchen each vendor. “We realized that if you’ve got by contract negotiations. Theodoropoulos expand to additional farm- several vendors in one farmers’ market loca- “Unite Here is making false charges about ers’ markets. tion, it doesn’t take that long to go from ven- our work environment in Hyatt properties that Five years ago, the county charged nearly dor to vendor, so we reduced the time to five are currently trying to negotiate new union $1,000 a year for health inspections for indi- Assuming a 30-percent cut, that means the minutes,” he said. contracts for Hyatt associates, and in markets vidual farmers’ market vendors that cooked fee would be $162 for the stalls with prepack- With some reductions in paperwork time where the union’s main goal is to increase its on the premises and $660 per year for ven- aged food and $420 for those that cook food. also now being factored in, county public membership,” Hyatt said. “In every instance so dors selling prepackaged foods. So a vendor “They still claim they spend nearly an health officials last week came up with a new far, where Unite Here has made multiple safety with stands at five local farmers’ markets that hour per booth,” said Marcus Salvemini, fee list for farmers’ market vendors, resulting complaints nationwide, other than minor cooked food at the markets faced nearly owner of Salvemini’s Italian Kitchen in in the 30-percent reduction. record keeping, the complaints have been $5,000 in annual health inspection fees. Sherman Oaks, who sells precooked pies at Bellomo and other county public health found to be without merit.” “The fees were way out of line,” said Jim booths at five local farmers’ markets. “They officials will present the new fee list to the But as the bed sheet brawl wages on, one Bell, executive in charge of the farmers’ don’t spend any more than 10 or 15 minutes farmers’ market vendors in the coming weeks. industry insider said hotel operators could use market division of Schreiner’s Fine at any of my booths and the fee for handing Bellomo said the main focus now is on the adoption of fitted sheets to improve their Sausage Inc. in Glendale, which has booths out samples is completely bogus.” making sure that the fees the county charges image and market it to customers. at farmers’ markets in Redondo Beach, Another vendor with booths at farmers’ are in line with the actual inspection costs. “What I try to tell my clients is when issues Manhattan Beach, Encino and Santa Clarita. markets in Los Angeles, Orange and San “Up until now, we’ve never sat down and come up that they might find unnecessary, bur- “We were being charged $166 per quarter Diego counties said that the current fees in looked at how much it actually costs to do densome or not useful, they should use it to for an inspector to show up at our booth for L.A. County are roughly four times higher these inspections,” he said. “That’s why their advantage,” said Jeff Lugosi, a senior five minutes twice a year, take a couple of than in the other two counties for the same you’re seeing these major adjustments in fees vice president in the downtown L.A. office of temperature readings, eye our displays and amount of inspections. now, both up and down.” Colliers PKF. “Sell it as a positive.” 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

44 LOS ANGELES BUSINESS JOURNAL JUNE 13, 2011 Real Estate: Building Evacuation Order Not Executed have to make any physical changes to the by a SB Manhattan tenant who claimed she Real estate attorney Pham said it can be dif- Continued from page 1 building, and will only have to file some was injured due to shoddy construction work ficult for building inspectors to spot all dis- “minor paperwork.” in the bathroom. crepancies during construction. But he was that was occupied by residents. It lists some He also said the number of units he would Shy has also been sued by homeowners’ surprised that some of the allegedly unpermit- serious life safety issues,” said Bill Pham, a have had to evacuate was only 10 or so, though associations in two of his other downtown ted work at SB Manhattan wasn’t recognized. residential real estate attorney at McKenna someone familiar with the issue said the num- buildings, the Bartlett Building at 215 W. Sev- “If four elevator bays are all of a sudden Long & Aldridge LLP who reviewed a Feb- ber was at least 25. enth St. and the Higgins Building at 108 W. gone, usually you figure somebody would ruary “order to comply” from the Department “You’ve usually got 30 days to comply, but Second St., for construction defects. notice that,” he said. “He also supposedly built of Building and Safety for the Business Journal now it’s been four months and the department a mezzanine and a balcony.” that listed 24 code violations. didn’t do anything,” Shy said. “They’re just The move by the city to order a partial sitting on it because they know this order to ‘You’ve usually got 30 days New allegations evacuation is an extraordinary action only comply should never have been written.” to comply, but now it’s The most recent tussle between the city and taken when there’s an imminent safety threat. The scrutiny comes amidst a widening FBI been four months and the Shy over SB Manhattan also generated a wild But the evacuation probe into possible corruption in the depart- department didn’t do allegation from the notoriously combative never happened, after ment among both the rank-and-file and super- developer. Shy alleged in a meeting with build- Shy took the unusual visors. Two inspectors have pleaded guilty to anything. They’re just ing and safety officials that someone high up in step of meeting with taking bribes in return for building approvals. sitting on it because they the department had taken bribes to produce the top building and safety Lara said department officials didn’t know this order negative report on his building. Since SB Man- officials instead of fil- believe anything of that sort occurred in rela- to comply should never hattan has been the subject of multiple lawsuits, ing a formal appeal. tion to the building’s initial approvals. he believes Meieran and people working with As a result, Shy “We don’t think that there was anything have been written.’ his former partner are behind it all. will be required to pull nefarious with this,” he said. BARRY SHY Meieran told the Business Journal the alle- permits, submit new gations were “preposterous and absurd.” plans and pass new Controversial history Spokesman Lara said an internal investiga- Shy inspections to remedy It’s not the first time that construction at Finally, this year, city inspectors found that tion into the bribery allegation was “on hold” the violations for 215 W. Sixth St. has gotten Shy into trouble. Shy made extensive unpermitted changes to the until Shy can provide more evidence to back which he was flagged. But department officials Shy bought it for $13.5 million from former SB Manhattan building. Four of the seven eleva- up his claims. decided the evacuation isn’t necessary. business partner Andrew Meieran in May 2005. tors and several stairways were demolished and The allegations are one more twist in an “We reviewed each item,” said spokesman It was called the Los Angeles Trust building replaced with floor area for additional apartment unusual four months between Shy and the city. David Lara. “Our inspection people decided before Shy converted it into the SB Manhattan. units. A new structural deck was installed on one Normally, a building owner who wants to there was no imminent hazard which would Meieran, who owns a popular bar, the Edi- floor to add apartment units. Corridors that need contest an order to comply must file a formal have required a vacation or partial vacation of son, in the basement of another one of Shy’s to resist a fire for one hour either had defects or appeal with the department. However, officials the building.” buildings, originally intended to open a bar in the weren’t wide enough. New walls were put in on and those familiar with the process said it’s not In the meeting last month, Building and ground-floor space and basement of SB Manhat- another floor to create exterior balconies. unheard of for changes to be made based on Safety General Manager Robert “Bud” Ovrom tan. But a construction crew severely damaged But Shy says he was approved to make informal discussions. and other officials met with Shy, who told the the basement during the building’s conversion to many of the changes by the time the building “We have an out of the ordinary situation Business Journal he produced inspection residential use, preventing the plans for a bar. opened in 2007. He described discrepancies becoming I think a little more out of the ordi- reports showing that the department’s inspec- Meieran sued Shy and won $18 million. with his original plans as minor. He’s currently nary,” said Dale Goldsmith, an attorney at tors had signed off on the building’s construc- In 2008, the city hit the developer with a working on submitting supplemental permits. Armbruster Goldsmith & Delvac LLP who tion work as it had been happening. more limited order to comply for building a “The building’s been fully occupied,” he specializes in real estate and land use Shy, who owns more than 1,500 apartment mezzanine floor without permits. He said he said. “Four years later they wake up and say approvals. “Evacuation orders are in and of and condo units downtown, said his building resolved that by pulling the proper permits. there are all these wrong things here, and we let themselves very unusual. It strikes me as odd has no safety issues. He claimed he will not Earlier this year, Shy settled a lawsuit filed you occupy the building for three or four years?” that they would then say, ‘Just kidding.’”

SEMINAR SMART STRATEGIES TO KEEP YOUR BUSINESS GROWING

Hear local industry leaders discuss how best to plan and forecast during uncertain economic times

Thursday, July 21, 2011 7:30 a.m. – 9:30 a.m. Millennium Biltmore Hotel, Emerald Ballroom 506 S. Grand Ave., Los Angeles, CA 90071 Cost: $45/ticket James Stratmann Perry Wong Jim Brill Mark R. Szczepaniak Register Online By July 13, 2011: Moderator Economist CFO Chief Financial Offi cer www.losangelesbusinessjournal.com/bizevents Regional Manager Senior Economist On Assignment, Inc. Prospect Mortgage LLC Email: [email protected] Oracle City National Bank Phone: 323.549.5225 Sponsored By: 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

JUNE 13, 2011 INDEX LOS ANGELES BUSINESS JOURNAL 45

‘The landlord was ‘It didn’t turn out ‘It’s win-win to on this deal like a real well.’ cooperate.’ bear on steak.’ JOE HANDY, ERIC S. YOON, MARK WILBUR, Champs Sports Pub, Television Media 24, Employers Group, on on his ‘Bar Rescue’ on programming leveraging free rent for reality show experience, from Korea, tenant improvements, PAGE 3 PAGE 5 PAGE 3

PEOPLE Clayton, Stephen ...... 1/42 I Moranville, David ...... 15 Sell, Steve ...... 15 Craig, Adam ...... 14 Iger, Robert ...... 16 Morgan, Linda ...... 37 Shelton, Leigh ...... 6/43 Cran, Richard ...... 15 Irani, Ray ...... 16 Shy, Barry ...... 1/44 N Cyganovich, Arren ...... 16 Israel, David ...... 1/42 Sugar, Ron ...... 16 A Nelson, Todd ...... 3 Amano, Bob ...... 6/43 Sullivan, Mark ...... 8 D J Amon, Bill ...... 14 O Sweeney, Patrick ...... 12 de Leon, Kevin ...... 6/43, 47 James, Zach ...... 12 Obama, Barack ...... 47 Jernigan, Rob ...... 8 T B DeStefano, Todd ...... 1/42 Orci, Roberto ...... 15 Ballard, Roger ...... 14 Taffer, Jon ...... 3 E K Ovrom, Robert ...... 1/44 Barnes, David ...... 14 Tarczynski, Mark ...... 37 Echeveste, John ...... 46 Kelsall, John ...... 7 Owen, Josh ...... 10 Bastian, Hal ...... 3 Tellem, Susan ...... 46 Eisner, Michael ...... 16 Kissinger, David ...... 33 Bay, Michael ...... 37 P Theodoropoulos, Panagiotis ...... 1/43 Thorne-Smith, Courtney ...... 15 Bell, Holly ...... 14 F L Park, Jin ...... 5 Toebben, Gary L...... 47 Bell, Jim ...... 1/43 Fiorina, Carly ...... 47 Lara, David ...... 1/44 Parker, Scott ...... 15 Perez, Katherine ...... 37 Berry, Dave ...... 10 Fish, Jeffrey ...... 37 Lau, Sandor ...... 10 U Perry, Jan ...... 8 Biden, Joe ...... 47 Leigh, Phil ...... 5 Udvar-Hazy, Steven ...... 4, 16 Blank, John ...... 46 G Lesser, Trudi ...... 37 Pham, Bill ...... 1/44 Boxer, Barbara ...... 47 Gallegos, Heidi ...... 7 Levine, Michael ...... 46 Piehl, Nathan ...... 37 V Braman, Liz ...... 37 Gardenhour, Scott ...... 37 Lewis, Sam ...... 1/43 Poser, Sam ...... 9 Van Sinderen, Jeff ...... 9 Villaraigosa, Antonio ...... 47 Bronson, Richard Skip ...... 15 Gehorsam, Robert ...... 12 Lugosi, Jeff ...... 6/43 R Brown, Jerry ...... 7,47 Goldsmith, Dale ...... 1/44 Lumm, Steve ...... 14 Raddon, Rich ...... 12 W Buckley, Lindsay ...... 5 Luton, Dustin ...... 14 H Rafter, Tracy ...... 7 Weiss, Justin ...... 3 Bush, Wes ...... 16 Lynch, Patrick ...... 1/42 Hagan, David ...... 5 Reed, Leslie ...... 37 White, Michael ...... 16 Butler, Jim ...... 6/43 Rosenblatt, Richard ...... 16 Handy, Joe ...... 3 M Wilbur, Mark ...... 3, 7 Rotella, Pasquale ...... 1/42 C Hayes, Greg ...... 6/43, 47 Mackovets, DJ ...... 1/42 Williams, Norma J...... 37 Rysman, Molly ...... 8 Cannon, Chris ...... 10 Hechmer, Paul ...... 14 Malin, Jeff ...... 3 Wrobel, Josh ...... 37 Hickey, Mike ...... 12 Carandang, Jean ...... 14 May, Matthew ...... 3 S Y Cavanaugh, Tim ...... 47 Hodgson, Paul ...... 16 Meieran, Andrew ...... 1/44 Sahagen, Nicole ...... 37 Yoon, Eric S...... 5 Chazen, Stephen ...... 16 Hoebich, Mark ...... 4 Metchek, Ilse ...... 46 Salvemini, Marcus ...... 1/43 Cho, Younghan ...... 5 Holmes, Morgan ...... 14 Monahan, Brian ...... 3 Sanfield, Philip ...... 10 Z Choi, Richard Y...... 5 Hoveland, Kay ...... 14 Moore, Schuyler ...... 3 Schwarzenegger, Arnold ...... 7 Zanetos, Rachael ...... 37

COMPANIES, City National Corp...... 8,14 Imperial Capital LLC ...... 14 M Shrine Auditorium ...... 1/42 Colliers PKF Consulting USA ...... 6/43 ING Groep NV ...... 15 Macerich Co...... 4 Skechers USA Inc...... 9 ASSOCIATIONS, ETC. Creative Artists Agency ...... 8 Innocean Worldwide Inc...... 15 Marriott International Inc...... 6/43 Skyline Financial ...... 37 Insomniac Inc...... 1/42 Marsh McLennan Cos...... 37 Sony Corp...... 15 D Institute for Enhanced Massachusetts Institute of Technology . . . .3 David & Goliath LLC ...... 15 Soundskilz Productions ...... 1/42 1 - 9 Perceptual Development ...... 37 May Realty Advisors ...... 3 Davis Elen Advertising ...... 15 South Bay Association of Realtors . . . . .33 3 Ball Productions Inc...... 3 Inter Public Group of Cos...... 3 McKenna Long & Aldridge LLP ...... 1/44 Sterne Agee Group Inc...... 9 Del Rey Global Investors LLC ...... 14 Mercer Insurance Group Inc...... 37 International Lease Finance Corp...... 16 Stroock & Stroock & Lavan LLP ...... 3 A Demand Media Inc...... 16 Movieclips Inc...... 12 Ability Trimodal ...... 10 Deutsch LA ...... 15 J MPG Office Trust Inc...... 37 Studley ...... 8 Acento Advertising Inc...... 15 DirecTV ...... 16 Janco Partners Inc...... 12 Swift Transportation, Corp...... 10 Activision Blizzard Inc...... 12 DLR Group WWCOT ...... 8 Jeffer Mangels N T Adlhoch Creative Inc...... 15 Dry Dock Fish Co...... 1/43 Butler & Mitchell LLP ...... 6/43 NBBJ ...... 8 TBWA Worldwide Inc...... 15 Affectiva Inc...... 3 JMF Development LLC ...... 37 Nexon America Inc...... 12 Air Lease Corp...... 4, 16 E Nintendo Inc...... 12 Television Media 24 Inc...... 5 Aliki's Greek Taverna ...... 1/43 El Pollo Loco Holdings Inc...... 15 K Nissan Motor Co. Ltd...... 15 Tellem Worldwide ...... 46 Aliki's Olive Oil ...... 1/43 Electronic Entertainment Expo ...... 12 Kaiser Federal Financial Group Inc...... 14 NMA Group ...... 15 The Edison ...... 1/44 American Apparel Inc...... 9 Employers Group Inc...... 3,7 Kia Motors Corp...... 15 Northrop Grumman Corp...... 16 Thomas Properties Group Inc...... 8 Evercore Partners ...... 16 American International Group Inc...... 37 Kilroy Realty Corp...... 4 NuVision Federal Credit Union ...... 14 THQ Inc...... 12 Americana at Brand ...... 4 Kinecta Federal Credit Union ...... 14 Toshiba Corp...... 15 F O Analytic Investors Inc...... 14 K-Swiss Inc...... 9 Forever21 Inc...... 5 Occidental Petroleum Corp...... 16 TowerStream ...... 5 Andaz West Hollywood ...... 6/43 Fullerton Community Bank ...... 14 Toyota Motor Sales USA Inc...... 15 L Ogilvy & Mather Worldwide Inc...... 15 Anheuser-Busch Cos...... 37 Trailer Park ...... 15 Anschutz Entertainment Group ...... 4,8 G Las Vegas Motor Speedway ...... 1/42 Opus Bank ...... 14 Levine Communications Office ...... 46 TVtracker ...... 4 Aon Corp...... 37 General Growth Properties Inc...... 4 P Limited Brands ...... 37 Armbruster Gensler ...... 8 Pollack PR Marketing Group ...... 15 U Goldsmith & Delvac LLP ...... 1/44 Goodness Mfg...... 15 LivingSocial ...... 15 Port of Long Beach ...... 10 U.S. Digital Gaming ...... 15 Atkins Nutritionals Inc...... 15 Governance Metrics International ...... 16 Lloyds of London ...... 4 Port of Los Angeles ...... 10 UGL Services ...... 37 Los Angeles Area Greater Lakewood Procter & Gamble Co...... 15 UGL Services ...... 37 B Chamber of Commerce ...... 7 Chamber of Commerce ...... 47 Unite Here ...... 6/43 B. Riley & Co...... 9 Groupon Inc...... 15 Los Angeles Athletic Club ...... 3 Q Unite Here Local 11 ...... 6/43 Bar Rescue ...... 3 Grubb & Ellis Co...... 8 Los Angeles Convention Center . . . . .1./42 Quanta Foods ...... 4 Beacon Economics ...... 1/42 Grupo Gallegos ...... 15 Los Angeles County Boeing Co...... 4 R V Board of Supervisors ...... 1/43 Variety Group ...... 4 Boingo Wireless Inc...... 5 H Los Angeles County Radio Korea Media Group ...... 5 HDK ...... 8 Reason ...... 47 VPE Public Relations ...... 46 Business Federation ...... 7 C Health Net Inc...... 15 Recording Academy ...... 15 Los Angeles Department W California Division of Occupational Heineken USA Inc...... 15 Reed Smith LLP ...... 12 of Building and Safety ...... 1/44 Safety and Health ...... 6/43 Hispanic Scholarship Fund ...... 15 Regional Chamber of Walt Disney Co...... 4, 16 Los Angeles California Fashion Institute ...... 46 Hotel Association of Los Angeles . . . . .6/43 Commerce - San Gabriel Valley ...... 7 Woori Investment&Securities Co...... 5 Economic Development Corp...... 46 California Milk Processor Board ...... 15 Hyatt Hotels Corp...... 6/43 RMG Capital Corp...... 14 WTAS LLC ...... 14 California Pizza Kitchen Inc...... 4 Los Angeles Memorial Coliseum . . . . .1/42 Hyatt Regency Century Plaza ...... 6/43 Z Cascade Bank ...... 14 Hyundai Motor Co...... 15 Los Angeles Memorial S Cascade Sierra Solutions ...... 10 Coliseum Commission ...... 1/42 Saatchi & Saatchi LA ...... 15 ZGF Architects LLP ...... 8 Cathedral Capital Ltd...... 4 I Los Angeles Sports Arena ...... 1/42 Salvemini's Italian Kitchen ...... 1/43 Zurich Financial Services Ltd ...... 37 Champs Sports Pub ...... 3 Image Metrics Inc...... 12 Los Angeles Times ...... 1/42 Schreiner's Fine Sausage Inc...... 1/43 Zurich North America ...... 37

These indexes list the people, businesses, associations, organizations, schools, etc., that are named in this week's issue. The numbers refer to the page on which the name is found. Numbers with slashes refer to pages on which lengthier articles are located that contain the name. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

46 LOS ANGELES BUSINESS JOURNAL COMMENTARY JUNE 13, 2011 LOS ANGELES BUSINESS JOURNAL ® Good News on the Sheet Beat 5700 WILSHIRE BLVD., SUITE 170, LOS ANGELES, CA 90036 HE state of California is swirling around the hurt tucking in flat sheets. De León is sure it or six new sheets per room. And they’ll probably (323) 549-5225 FAX 549-5255 drain. Unemployment is the second-highest could happen, and I agree. I mean, think about it. have to replace them more often because the elas- www.labusinessjournal.com in the nation. Businesses are seeping away. Hotels have been using flat sheets for – what? – tic will degrade in the hot laundry hotels use. And T PUBLISHER & CEO The state budget deficit is intractable. only a couple of hundred years. That’s hardly they will have to hire people to fold the fitted MATTHEW A. TOLEDO In times of crisis like these, we enough time to draw any conclu- sheets, since their folding machines won’t work [email protected] | ext. 207 yearn for a true leader to step forward sions. Any day now, we’ll hear about on them. And it will take more time to make each with clear thinking and bold plans. the rash of injuries caused by the bed. Add all that up, and it only comes to tens of EDITOR CHARLES CRUMPLEY Someone who can get us on the path menace of flat sheets. millions of dollars statewide. Really no added [email protected] | ext. 208 out of this morass. Oh, sure, those hotel operators will cost at all. DESIGN DIRECTOR Thank goodness Kevin de León tell you that if their housekeepers You know, since there’s a debate about flat vs. ROBERT LANDRY [email protected] | ext. 243 has emerged. He’s a Democratic state were really getting hurt from tucking fitted sheets, I did my own little experiment a few MANAGING EDITOR senator who represents downtown in flat sheets, they would file a mess days ago. Sure enough, the fitted sheet was much LAURENCE DARMIENTO Los Angeles. And he’s got a plan. De of workers’ compensation claims, and easier to put on. Much easier. Well, at least the first [email protected] | ext. 200 León has declared war on those das- the hotels would find it in their eco- three corners were. That fourth corner was a bit of DEPUTY MANAGING EDITOR STEVE SILKIN tardly flat sheets in hotels. He wants nomic self-interest to switch to fitted a tug-of-war, but I eventually got it on perfectly [email protected] | ext. 229 fitted sheets, and he’s introduced a COMMENT sheets. But what do those hotel guys fine, and the pulled back muscle will heal in just a NEWSDESK EDITOR TOM HICKS bill to mandate them in all hotels in know? I mean, all they know is how few more days. No problem. [email protected] | ext. 223 the state. The bill passed the Senate to operate hotels. That’s nothing. So I’m with de León. His bill, if passed, will CHARLES REPORTERS two weeks ago, and if it passes the Best of all, de León’s bill won’t improve our economy by enriching makers of fit- SAM BENNETT Assembly, it’ll be a misdemeanor for CRUMPLEY cost hotels a thing. In fact, in the arti- ted sheets and forcing those know-nothing hotel [email protected] | ext. 263 RICHARD CLOUGH a hotel to use flat sheets. cle on page 6 of this issue, his guys to hire sheet folders and extra housekeepers. [email protected] | ext. 251 No, no, no. This is not a waste of the Legisla- spokesman, Greg Hayes, said, “We don’t want to Now that’s the leadership California needs at DEBORAH CROWE ture’s brain power in a time of crisis. This is really burden these businesses. But we are saying, ‘The this crucial moment to get us out of this crisis. [email protected] | ext. 232 HOWARD FINE important. You see, hotel housekeepers could get next time you place an inventory of sheets, make [email protected] | ext. 227 hurt lifting mattress corners to tuck in flat sheets. half of them fitted.’ And there should be no added Charles Crumpley is editor of the ALEXA HYLAND Never mind that there’s scant independent evi- costs to the hotel.” Business Journal. He can be reached at [email protected] | ext. 235 NATALIE JARVEY dence that many housekeepers have actually been Well, OK, so the hotels will have to buy five [email protected]. [email protected] | ext. 230 ALFRED LEE [email protected] | ext. 221 JOEL RUSSELL  LABJ FORUM [email protected] | ext. 237 JACQUELYN RYAN [email protected] | ext. 228 VISITING FELLOW It’s graduation season, and it seems that the Will the job market for the HEEJIN PARK As You job market doesn’t seem to be improving class of 2011 be better [email protected] | ext. 241 CHIEF EDITORIAL PHOTOGRAPHER much. So the Business Journal asks: than it was last year? RINGO H.W. CHIU [email protected] | ext. 256 Go Forth... RESEARCH DIRECTOR DAVID NUSBAUM [email protected] | ext. 236 EDITORIAL ASSISTANT   JONATHAN POLAKOFF JOHN ECHEVESTE JOHN BLANK they actually have contempt for it. Living in this [email protected] | ext. 239 Partner Deputy Chief Economist environment, it would be a good idea to meet the VPE Public Relations Los Angeles Economic Development Corp. challenge with heroic effort. VICE PRESIDENT OF ADVERTISING JOSH SCHIMMELS It will be better but still Much better. It will probably be the best year in the [email protected] | ext. 218 bleak. I’ve talked with many last three or four. People in info tech will be in great  ILSE METCHEK ASSOCIATE SALES MANAGER DARRIN SENNOTT college graduates recently and demand. They’ll be picked up right away. I see glim- President [email protected] | ext. 220 most have lowered their mers of hope in commercial real estate for the first California Fashion Institute ADVERTISING ACCOUNT expectations and are happy to time in years. There’s a fair amount of concern about It will depend upon the stu- MANAGERS JESSICA ANNAS just get an internship. The the retail space, but the higher end jobs will be ok. dent’s course of study. The job [email protected] | ext. 240 number of job postings in the market is wide open for those MICHELLE GIUNTA communications field is on the  MICHAEL LEVINE who excelled in technology [email protected] | ext. 214 MICHAEL KOSASKY rise, but few openings are at Founder and the sciences, as well as for [email protected] | ext. 253 Echeveste the entry-level position. That Levine Communications Office those who developed great BILL MOIR means graduates may have to ride it out in intern- There has been no improvement to speak of and resumes from focused intern- [email protected] | ext. 216 ROSZ MURRAY ships and move back with the folks, or look at it shows no signs of improving in the foreseeable ships in their fields. That’s not [email protected] | ext. 215 other career opportunities. future. The job market is nothing short of dismal. so for those with liberal arts or JIM SLATER Young people not only lack the work ethic to suc- Metchek general studies degrees. [email protected] | ext. 209  SUSAN TELLEM ceed in an extraordinarily difficult environment; SPECIAL EVENTS/ ADVERTISING COORDINATOR Partner MARISSA DE LA CRUZ Tellem Worldwide [email protected] | ext. 213 With unemployment notching up to 9.1 percent PRODUCTION ARTISTS SALLY FOSTER in May, prospects look worse than last year. [email protected] | ext. 212 Employers are getting used to working with small- PATTY TSAI-CHU er staffs, using freelancers and outsourcing. To add [email protected] | ext. 242 to the misery, there are many grads still looking CIRCULATION DIRECTOR MICHAEL LEVINE from last year. It’s a sputtering economy a best. [email protected] | ext. 247

CUSTOMER SERVICE LE MILLHAUSER [email protected] | ext. 245 ZAINABU BRYANT Los Angeles Business Journal Poll [email protected] | ext. 244 Compared to last year, the job market for the CONTROLLER NANCY SCHWARTZ Class of 2011 will be ... [email protected] | ext. 202 ACCOUNTS RECEIVABLE About the SPECIALIST same. PATRICIA A. BENSON 36% [email protected] | ext. 231 ASSISTANTS TO THE PUBLISHER BETH THERIAC [email protected] | ext. 249 PAUL KNEZEVIC 24% [email protected] | ext. 203 40% RECEPTIONIST ERIN SCHAUER Better. [email protected] | ext. 270 Worse.

CITY BUSINESS Online results for week ended June 8 JOURNALS NETWORK 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

JUNE 13, 2011 COMMENTARY LOS ANGELES BUSINESS JOURNAL 47 Villaraigosa’s 30/10 – Show Me the Money Accelerating transit projects may sound great, but it remains unclear how government will pay for it.

By TIM CAVANAUGH

HAT is TIFIA? This fey-sounding acronym for the Even taxing the 1998 Transportation Infrastructure Finance and Inno- county into penury W vation Act may be your ticket to a wheezing, convo- and ignoring the luted federal lending vehicle designed in large part to help Mayor Antonio Villaraigosa name a major project after himself. deplorable condition How can that be, when the deepening state and federal fiscal of its roads won’t crisis has delayed or derailed so many major projects? bring enough money U.S. Sen. Barbara Boxer (D-Calif.), in her capacity as .... The real laugh is chairwoman of the Senate Environment and Public Works Committee, is receiving a lesson in planned economics going to be on the through President Obama’s $556 billion six-year highway American taxpayers, and transit bill. Because the administration provided a plan who may yet that is underfunded by at least $134 billion, it is left to Boxer end up paying for to whittle the bill down. A bill that would have cost more than $185 billion over the next two years now may end up Antonio’s folly. costing only about $109 billion, most of that from the federal gasoline tax. This bill does not include the $53 billion taxpayer expendi- ture for railroads announced by Vice President Joe Biden in February. But the bill does contain non-road transit, and one RINGO H.W. CHIU/LABJ chief executive who has been looking on with gleeful hand-rub- Heavy Traffic: Cars and trucks pack a Los Angeles area freeway. bing is the squat, amiable mayor of the City of Angels. Villaraigosa rejects the legacy that has already been granted to him by history: L.A. died on his watch. Instead, he believes tan Transportation Authority’s Measure R website page high- the 10-year window Villaraigosa envisions. that by narrowing the city’s 30-year plan for new municipal rail lights the road and driving elements of the measure, with its top But the biggest joke isn’t just on the people of Los Angeles, projects to 10 years – the so-called “30/10” plan – he can out- bullet point noting that MTA has disbursed “$100 million for ... who after all deserve the absurd fate of becoming guinea pigs in shine even the burnished image of his predecessor James Hahn. projects such as pothole repairs, major street resurfacing, left- the New Urbanists’ experiment to create a newer, better Homo A few things to understand about 30/10: turn signals, bikeways, pedestrian improvements, streetscapes, Angelicus. The real laugh is going to be on the American tax- It’s politically popular. Boxer and challenger Carly Fiorina traffic signal synchronization and local transit services.” payers, who despite the fizzling of Obama’s transit package both embraced Villaraigosa’s scheme to grab federal funds for may yet end up paying for Antonio’s folly. Boxer has been try- the idea in the 2010 election. Fewer fixes ing to shake loose money by expanding the TIFIA program, It also has no realistic hope of being funded. At the most More than two years in, Los Angeles now fixes nearly a which currently lends a little more than $100 million per year to conservative estimate, the plan will cost at least $13.7 billion, third fewer potholes than it did before. According to the Mea- transit projects, to $1 billion in annual lending. and it will probably cost a lot more. sure R expenditure plan, a mere 15 percent of money from the Of course, $1 billion nationwide is not nearly enough to And it has a new name. “Fast Forward America” is the new sales tax is designated for road service. The largest portion goes fund 30/10 or FAST or whatever Villaraigosa names his next designation of 30/10, given with an eye toward getting other to new rail projects, though only the Expo Line from USC is version of the L.A. rail plan. But the program is going ahead, cities to accelerate railroad projects. In L.A., “FAST” has been currently under active construction. and its boosters still think there’s some money out there turned into the telling acronym: “Fixing Angelenos Stuck in The half-cent sales tax has made itself felt in other ways, somewhere. Boxer tells the Wall Street Journal that the Traffic.” (That is exactly correct: They don’t want to fix the however. According to the Bureau of Economic Analysis, the expanded TIFIA will “leverage $30 billion in private invest- traffic; they want to fix the people.) gross metropolitan product for Los Angeles declined 3.4 per- ment.” That’s a multiplier effect of $30 for every $1 the gov- Angelenos, fixed or not, voted in 2008 to approve a county- cent in the year after Measure R’s passage. ernment gives out. Which is why I said Boxer is “receiving” wide sales tax, set at the seemingly reasonable rate of a Punchline: Even taxing the county into penury and ignoring a lesson in planned economics, not that she’s learning any- ha’penny. Measure R was heavily advertised as a tax that would the deplorable condition of its roads won’t bring enough money thing from it. fix potholes, repair the county’s disgraceful road infrastructure, to fund FAST. According to MTA’s expenditure plan, the new and “get traffic moving.” The Los Angeles County Metropoli- tax will only contribute $2.93 billion to new rail projects over Tim Cavanaugh is a columnist at Reason magazine.

Time Is Now for State Budget Workout  LETTER Car Trouble By GARY L. TOEBBEN In May, a coalition of 13 major business organizations from Re: The article in the May 9 issue headlined “Parking across the state, including the L.A. Area Chamber and the Los Break? City of L.A. may ease space requirements.” HIS Wednesday is D-Day for the California Legislature. Angeles County Economic Development Corp. formed the It’s the deadline for passing a balanced state budget. And Coalition for a California Financial Workout Plan to encourage It is disturbing to see the quoted design/planning profes- T it is an opportunity to pull our state out of the financial Brown and legislative leaders to restart negotiations around a sionals in near lockstep over parking. They appear to favor a and economic morass we find ourselves in today. five-point workout plan. The components include: more New York-Euro style situation where everyone lives in Financial deadlines usually force people out of their comfort apartments and commutes to nearby jobs on public trans- zones and give them an urgency to act. Gov. Jerry Brown and • Spending control and budget reform portation. members of the Legislature should use Wednesday’s deadline • A focus on job creation that includes regulatory reform That isn’t L.A’s reality or future. Reducing parking as an opportunity to put a financial workout plan into place for • Pension reform requirements for new apartments or condos doesn’t recognize California. • Government closer to the people that often a one bedroom unit has two occupants who com- In the business world, a workout plan is an agreement • Extension of temporary taxes mute to distant places. It’s too late to change the older com- between a financially troubled company and its lender to alter mercial districts which offer little or no parking and which the terms of repayment. Typically, the lender agrees to modify Long term solutions shouldn’t be overly restricted. New residential and commer- the terms in exchange for legally binding commitments from The citizens and businesses of California don’t want short cial spaces should continue to require adequate parking. the company to fix the structural problems that got the company term fixes that pass the problem on to future generations. Nei- in trouble. That’s what California needs: a workout plan where ther do they want another set of gimmicks or smoke and mir- Laurence S. Goldstein taxpayers agree to extend temporary taxes on the condition that rors. Californians want real long-term solutions that put our Culver City state government fixes the underlying conditions that got Cali- state on a straight path toward financial stability and job growth fornia in trouble. in the future. We disagree with those who don’t see the need for a work- It can’t all be done by Wednesday, but the framework of a  out – those who favor an all-cuts budget that will scar Califor- workout plan can be in place by then. A sense of urgency, long- How to reach us nia’s future, as well as those who want tax extensions without term vision, courage and compromise is what it will take. The LETTERS: Please keep your letters less than 150 the reforms needed to get California out of this mess. benefits will last for generations. Please join us by calling upon words. Include your name, address and daytime phone In February, the Los Angeles Area Chamber of Commerce Brown and the Legislature to work night and day to make this number on all submissions. We reserve the right to edit voiced its support for such a plan. In early March, it looked like happen by Wednesday. letters for brevity and taste. Brown and members of the Legislature were heading toward a E-mail: [email protected] reasonable agreement. For whatever reasons, the negotiations did Gary L. Toebben is president and chief executive of the Los not succeed. We do know that they came close to a resolution. Angeles Area Chamber of Commerce. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

48 LOS ANGELES BUSINESS JOURNAL JUNE 13, 2011

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DIGITAL EDITION USERS GUIDE | TABLE OF CONTENTS Los Angeles Business Journal digital edition provides links to navigate through pages and articles easily whether you are on your mobile device such as iPad and computer. With a the touch of your fingertips on the headlines, the digital edition will directly link you to the website where the article is placed and can be forwarded through email or copied and pasted on documents of choice.

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DIGITAL EDITION USERS GUIDE | EDITORIAL LINK TO WEBSITE Los Angeles Business Journal digital edition provides links to navigate through pages and articles easily whether you are on your mobile device such as iPad and computer. With a the touch of your fi ngertips on the headlines, the digital edition will directly link you to the website where the article is placed and can be forwarded through email or copied and pasted on documents of choice.

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DIGITAL EDITION USERS GUIDE | DOWNLOAD INSTRUCTION FOR PC/MAC Los Angeles Business Journal digital edition provides links to navigate through pages and articles easily whether you are on your mobile device such as iPad and computer. With a the touch of your fingertips on the headlines, the digital edition will directly link you to the website where the article is placed and can be forwarded through email or copied and pasted on documents of choice.

We recommend you read the very brief CBJ Digital Edition User Guide which you can download right now at:

http://www.cbjonline.com/a3sdbj/resources/Digital-Edition-InstructionsONLINE.pdf

The User Guide will help you get the most out of the many enhancements incorporated into the Digital Edition.

To read the Digital Edition on either your PC/MAC please follow the instructions below;

To Download: 1. Click on the below listed URL: www.labj.com/digital 2. Click on the edition you wish to download (the editions for each paper are represented by an icon which appears on the Web page you access with the browser). 3. Wait as the selected edition is downloaded into your browser. Download progress will vary from different browsers. 4. The downloaded edition will appear in your browser

Reading Instructions (start here if you have already downloaded the Digital Edition into your browser)

1. Save the Los Angeles Business Journal Digital Edition in an easily accessible folder on your computer. We suggest creating a Digital Edition folder in your Documents Folder where you can save each issue of the Digital Edition. 2. Go do the folder with the Digital Edition, locate the Digital Edition icon and the Digital Edition will open in Adobe Reader. If you don’t have a copy of Adobe Reader on your computer, go to www.labj.com/digital and download a free copy of Adobe Reader. 3. As the Digital Edition opens inside Adobe Reader you will be asked to allow the Digital Edition to open in the full screen mode. 4. You will note a series of buttons across the top of the page of the Digital Editions. The buttons provide the following commands:

Previous Page, 2-Page Spread, 1-Page View, Thumbnails, User Guide, Front Page, Table of Contents, Zoom-in, Zoom-out, Next Page

There are addition links embedded in the Digital Edition (and described in the User Guide) which are intended to enhance your reading experience.

Note: the Digital Edition can also be read on Android, Apple, Blackberry and Windows smart phones and on Kindle and Nook digital reading devices. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

DIGITAL EDITION USERS GUIDE | DOWNLOAD INSTRUCTION FOR iPAD Los Angeles Business Journal digital edition provides links to navigate through pages and articles easily whether you are on your mobile device such as iPad and computer. With a the touch of your fingertips on the headlines, the digital edition will directly link you to the website where the article is placed and can be forwarded through email or copied and pasted on documents of choice.

We recommend you read the very brief CBJ Digital Edition User Guide which you can download right now at:

http://www.cbjonline.com/a3sdbj/resources/Digital-Edition-InstructionsONLINE.pdf

The User Guide will help you get the most out of the many enhancements incorporated into the Digital Edition.

To read the Digital Edition on either your iPad please follow the instructions below;

To Download: 1. Click on the below listed URL: www.labj.com/digital 2. Click on the edition you wish to download (the editions for each paper are represented by an icon which appears on the Web page you access with the browser). 3. Wait as the selected edition is downloaded into your browser. Download progress is marked by a blue thermometer indicator in the URL bar of the browser. 4. The downloaded edition will appear in your browser

Reading Instructions (start here if you have already downloaded the Digital Edition into your browser) 1. To read the Digital Edition you must move the Edition from your browser to a digital reader. 2. Move the downloaded edition into the iBooks digital reader (iBooks is a standard app delivered on all iPads. The app is available free on in the Apple app store should you need to download a copy of the app) by tapping in the center of the page until you see the "open in" button appear in the upper right-hand corner of the page. 3. Tap on the "open in" button. A list of apps will appear. Select iBooks. After a delay of a few moments, the digital edition will appear on a bookshelf in the iBooks app. 4. Tap on the image of the digital edition shown on the bookshelf and the edition will open in iBooks. 5. Use the tools at the top of each page of the digital edition in combination with the built in tools in iBooks to read and navigate the edition. 6. You will note a series of buttons across the top of the page of the Digital Editions. The buttons provide the following commands:

Thumbnails, User Guide, Front Page, Table of Contents

7. Enjoy reading your weekly digital edition of the Los Angeles Business Journal 8. Please give us feedback by sending me an email at: [email protected]

Note: the Digital Edition can also be read on Android, Apple, Blackberry and Windows smart phones and on Kindle and Nook digital reading devices.