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labusinessjournal.com LOS ANGELES BUSINESS JOURNAL Volume 33, Number 18 THE COMMUNITY OF BUSINESSTM May 2 - 8, 2011 • $3.00 Up Can Markets Front Welcome Back Bear a Strike? GROCERY: Chains, union have less in the bag this time.
By SAM BENNETT Staff Reporter
It appears the three main grocery chains that serve Los Angeles and their union workers are Why Alex digging in for what may be another battle over Storch says his wages and benefits. new magazine However, industry experts warned that the is hip – even chains may quickly discover that customers of though it’s in Ralphs, Vons and Albertsons have many print. PAGE 3 more places to shop for groceries today than they did during the last strike in Southern Cali- fornia in 2003. News & Since then, Costco, Target, Wal-Mart, Whole Foods and Trader Joe’s have beefed up Analysis their local grocery offerings. Some chains, includ- ing Fresh & Easy and Henry’s, have moved in. What’s more, even the unionized stores have installed self-checkout machines. That means a store that is hit with a strike can accommodate customers more easily than in 2003. “The supermarket employee is not standing
Please see GROCERY page 42 Going Up: Steve Farzam at his family’s Shore Hotel under The old Crest construction in Santa Monica.
Theatre is part RINGO H.W. CHIU/LABJ of something SPECIAL REPORT new in show biz. PAGE 5 L.A. hotels upgrade, expand as sector recovers By ALEXA HYLAND Staff Reporter No. 56 on the Business Journal’s list of 100 20inTheir THE LISTS largest hotels in Los Angeles County, has People N a sign that L.A.’s hospitality indus- been undergoing an $11 million renovation. try is checking back in to good times, L.A. County Meeting The hotel completed an overhaul of its 300 Ihotels are investing millions in new Facilities PAGE 17 rooms last year and began making improve- Twenties buildings and in keeping marquee prop- Hotels PAGE 19 ments to its public spaces in February. erties looking their best. Michael Robby, Marriott director of Several of the region’s largest estab- sales and marketing, said the hotel began lishments are in the midst of multimillion-dollar pro- planning its renovation project several years ago, but the jects. That’s because hotel owners, who held on to their recession delayed the work, especially a $4.5 million cash during the downturn, are now more likely to rein- upgrade of its grand ballroom and other meeting spaces. vest in their properties as occupancy and average room “When we saw a little bit of a downturn in the late rates are on the rise, according to industry watchers. How David For example, the Long Beach Marriott, which ranks Please see HOSPITALITY page 41 Burcham became the first lay leader of Loyola Mary- mount. PAGE 14 New Leasing Website Goes for Broker
Their company, Century City- RINGO H.W. CHIU/LABJ MAIL TO: REAL ESTATE: SuiteSearch based SuiteSearch North America Whitney Port, 26, was a star on lines up smaller spaces for tenants. Inc., operates the site, which allows a business owner to search for com- MTV’s “The City.” But she had By JACQUELYN RYAN Staff Reporter mercial space by criteria including other aspirations: launching her own size, location, term and amenities. clothing business, called Whitney Nicholas Ilagan was surprised that he couldn’t get “Where small business may have Eve. The show got canceled, but much help from brokers when he wanted to sublet gone and driven around an area the company remains. The Business about 2,500 square feet of office space he was leaving. looking for for-lease signs in the Ilagan Journal profiles Port as part of its Brokers weren’t interested: It wasn’t enough space neighborhood that they want to annual special report on 20 for them to make a decent commission. lease, now they can use SuiteSearch.com to find exactly So Ilagan and partner Steve Pollack decided to do what is available,” Ilagan said. “People are increasingly Angelenos now in their 20s who something about it. going online to search for office space. We hope to cap- have started and are running their Last month, the duo launched a website that lists italize on this growth, and provide property owners and own show – in the business world. office vacancies of about 2,500 square feet or less in BEGINNING ON PAGE 25 Southern California. Please see REAL ESTATE page 42
Real World Insight for Middle Market Companies
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2 LOS ANGELES BUSINESS JOURNAL MAY 2, 2011
LOS ANGELES BUSINESS JOURNAL ® Bringing your global accounting needs MAY 2 - 8, 2011 VOLUME 33, NUMBER 18 togetherinover100countries.
RINGO H.W. CHIU/LABJ Page 6: Greg Liberman, new chief of the Spark Networks dating website in Beverly Hills. EDUCATION – John Anderson’s $25 million SPECIAL REPORT: gift could buoy a plan for self-sufficiency at 20 IN THEIR 20S UCLA’s management school...... 8 REAL ESTATE – Owners have placed a Access to professionals with on-the-ground knowledge of local regulations, PROFILES – From running nail salons to do-not-disturb sign on the previously for-sale language and culture. Responsiveness, thoughtful recommendations, a bakery to a law firm, these young entre- Beverly Wilshire hotel...... 10 and partner accessibility. That’s the hallmark of Grant Thornton. preneurs got an early start in making their way in the business world...... 25-31 Columns & features – Media Watch 10, Contact Joel Anik, SoCal Managing Partner, at 213.596.3484 or News of the Week 12 [email protected]. Visit us at GrantThornton.com. ON THE COVER PEOPLE HOSPITALITY – Hotels across Los Angeles INTERVIEW – Former attorney David are booking renovations and expansions as Burcham now courts deep-pocketed donors occupancy rates bounce back. as president of Loyola Marymount GROCERY – Analysts see nothing good in University...... 14 Grant Thornton refers to Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd, an organization of independently owned and managed accounting store from a strike for L.A. chains and union and consulting firms. workers. THE LISTS REAL ESTATE – Website SuiteSearch has carved out space in commercial leasing by RANKING – The 25 biggest meeting facilities thinking small. in Los Angeles County, ranked by square footage of largest room...... 17 UP FRONT The 100 biggest hotels in Los Angeles County, ranked by number of guest rooms...... 19 PUBLISHING– New magazine Carson isn’t named after the city but its creative director INVESTMENTS & FINANCE David Carson...... 3 RETAIL – Stanley Isaacs feels his survival kit Columns & features – Econowatch 33, in a vest is a good fit for quake-prone Los LABJ Stock Index 34 Angeles...... 3 TECHNOLOGY – A pair of engineers’ REAL ESTATE computer chip for smart phones rang up a Columns & features $50,000 prize in a USC contest...... 3 – Real Estate Column 36 Columns & features – Page 3, Regional Report 4 L.A. BIZ SEEN
NEWS & ANALYSIS CELEBRATIONS – Photos from L.A. business community events...... 44 FILM – Movie maker and distributor Bigfoot has a toehold in exhibition with the acquisition of Westwood’s Crest Theatre. .5 COMMENTARY LAW – Los Angeles is building a case for COMMENT – Charles Crumpley believes he recovery as three national firms open offices knows why the floor hasn’t yet been hit on here...... 5 home prices...... 46 INTERNET – The new chief of dating site ENVIRONMENT – Bill Gunderson asks why operator Spark hopes to extend his customers’ green companies shed so much red ink. . .47 relationships with nonromantic websites. . .6 SHIPPING – Julian Keeling sees Just-In-Case BANKING – A failed corporate credit union as a reduced-pressure alternative to Just-In- has named new directors even as former ones Time...... 47 face a lawsuit over its collapse...... 7 Columns & features – LABJ Forum 46
Los Angeles Business Journal (ISSN 0194-2603) is published weekly. © 2011, Los Angeles Business Journal. Offices are located at 5700 Wilshire 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 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 Journal is gathered from sources considered to be reliable, but the accuracy of this information cannot be guaranteed. Neither that information nor 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. 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
MAY 2, 2011 UP FRONT LOS ANGELES BUSINESS JOURNAL 3
was born before the 1994 The next day, he chatted Seeing Northridge Earthquake, when with a firefighter who was Safety in Isaacs stocked the pockets of a teaching the class about which vest from a movie set with sur- 10 items should go into a vest. Vestment vival essentials and stashed it Isaacs is now selling the in his closet. When he felt the vests, which include a multi- Filmmaker produces jolt in his purpose a survival kit that Cahuenga tool, a blan- Pass home, he ket and you can wear. rushed to his water purifi- As a movie director and closet, reached cation producer specializing in sci-fi into the vest tablets, for flicks, Stanley Isaacs has pockets and $74.95 on brought some wild disaster gave his wife, the Internet. scenarios to the screen. He Cheryl Boone Isaacs is made one about the moon Isaacs, the airing radio heading toward a crash into flashlight and advertise- the Earth, for example. radio. ments and Isaacs is now looking The expe- said he has a ahead toward a more realis- rience was an couple of tic catastrophe for a side afterthought Grab and Go Vest. bulk orders
RINGO H.W. CHIU/LABJ business. The moon may until last summer, when the in the works, but the vests First Edition: From left, Nielsen and Storch at Carson magazine’s L.A. headquarters. never crash into the Earth, couple took an earthquake- aren’t exactly flying off the but there’s going to be an preparedness class. After their shelves. One thousand have Leonora A. Nielsen, the maga- Carson, and articles paired earthquake in Los Angeles first day of training, Isaacs been purchased already. Got zine’s global strategy manager. with cutting-edge art and one day, so he’s started sell- was reminded of the vest by “Sales have increased since “I think people are tired of graphic design. ing the Grab and Go Vest, a his wife. the disaster in Japan,” he said. Him everything just being so “It’s a lot like Interview,” ready-to-wear emergency “The first thing you lose in “But it’s a slow building Covered instant,” said Nielsen, who said editor Alex Storch. “We response kit with survival an earthquake is a sense of process. There’s resistance, believed in the vision so take these great writers and necessities. control,” he said. “It was because people don’t under- New magazine Carson strongly that she sold a Paris put them in with other great Isaacs launched the product etched in her mind because she stand that they need this.” takes title, inspiration apartment to help finance the writers. We’ve gone after the earlier this year. But the idea had light and communication.” – Jonathan Polakoff from art director. launch. “They want to curl up best and we combine that on their sofa with a magazine.” with really great art. Getting Carson magazine will debut Nielsen, who previously Carson, he was our first Hashemi, a USC profes- different chips that can work on newsstands this week, but spent several years as a pro- choice as far as designers. Connecting sor, and Analui, a postdoctor- on previously unused fre- it’s not a publication named ducer in digital media, com- Carson the magazine is Globally al researcher, received quencies. Abtum’s chip is after the L.A. city where David puter games, TV and film, said headquartered on Melrose $50,000 of startup capital. adapted to do that. Beckham and his teammates the magazine plans to publish Avenue in Los Angeles and Duo wins USC contest The growing demand for “Everyone else will play for the Galaxy. six times its first year, and will has a staff of seven. Carson the with computer chip that broadband Internet access on have to make a device,” Its namesake is David Car- try and survive through ad man is based in New York. links phones to web. hand sets has created a market Analui said. “We already son, who was art director for sales and subscriptions. Samir Husni, a magazine for Abtum’s product, as many have it.” the now-defunct Ray Gun mag- Articles will be varied: expert at the University of Mis- Electrical engineers Hossein mobile devices need a separate The new contest was the azine in the mid-’90s, when he There’s a piece about a sissippi, has seen the first issue of Hashemi and Benham Analui chip to connect to the Internet result of a $1 million endow- became known for his unusual French surfboard maker, Carson and believes it can find a made a computer chip that in remote areas, such as ment announced last year approaches to typography. another about worm drop- modest niche in the marketplace. allows smart phones to do Micronesia. Abtum’s chip from engineer and hedge fund The folks behind the maga- pings and another called “A “The days of magazines something most can’t: connect works most anywhere. manager Fariborz Maseeh of zine think that with Carson Road Warrior DJ’s Survival launching with millions of to the Internet in any country “Everybody wants to be Newport Beach. Called the aboard as creative director, they Guide.” Advertisers in the 86- copies, that is going to be very without expensive roaming connected, and that will hap- Maseeh Entrepreneurship have a hipster product that’s page debut issue include limited,” said Husni, known in charges. They entered their pen in the future,” Analui said. Prize Competition, it is edgy, ultracool and something Bang & Olufsen and Buddy the industry as “Mr. Magazine.” invention in the first entrepre- What’s more, as the cel- unusual because it is aimed at tangible to hold in your hand. Carr Skateboards. “We are more in the business of neurship competition at the USC lular industry gets more encouraging engineering stu- Wait, what year is this? Can The premiere issue has a customers who count instead of Viterbi School of Engineering, bandwidth, it means more dents, not business students, hip still exist in print, not just print run of 25,000 copies counting customers.” and their company, Abtum frequencies will open up. to become entrepreneurs. on the Internet? Possibly, said with a cover designed by – Greg Hernandez Inc., took first prize in April. Mobile devices will need – Jonathan Polakoff
Far From Being the Biggest Loser J.D. Roth, executive producer of NBC’s “The state Professional Responsibility exams. Last Later he asked: Biggest Loser,” will have a second weight-loss PAGE 3 week, she started as an associate at Alder’s firm. “Who in the audience is show in prime time when “Extreme Makeover: But the biggest adjustment might have been from Harvard?” Weight Loss Edition” debuts May 30 on ABC. CHARLES CRUMPLEY getting used to two L.A. staples: driving and sushi. One hand went up – As if that weren’t enough, his weight loss and It was a year before she ever took the freeway. Villa’s. lifestyle transformation show “Revolution” will be “I would set my GPS to purposefully avoid “And I thought, ‘Oh, part of the programming block replacing ABC’s the freeway – I was petrified,” she said. “And I no, why did I raise my recently canceled soaps “All My Children” and Going Native thought sushi was the most disgusting thing in hand?’” he said. “One Life to Live.” Jennifer Burkes may have just been sworn in the world, and now I think the worst thing about Instead of con- Why is Roth – a as an attorney in Los Angeles last week, but for Mississippi would be that I can’t get sushi deliv- demning the university, trim 147 pounds – so years she had her own practice as a plaintiff’s ered to my front door. I guess I turned L.A.” Olmos praised it. That’s focused on helping attorney in Gulfport, Miss. Villa because Harvard folks shed weight? All that was left of Old School Tie researchers recently He explained that Burkes’ old office was a Jose Villa, chief executive at downtown reported that they partially reversed aging in he’s from an over- concrete slab when advertising agency Sensis, went through a range mice, and Olmos speculated the technology weight family. Hurricane Katrina of emotions while he listened to a keynote would soon make it possible for human life “I have a twin sister swept through in 2005. address by actor Edward James Olmos. spans to be measured in centuries. who’s overweight, a little After the storm, which The event was Hispanicize, an April 8 confer- For Villa, it was a bizarre – and funny – turn- sister who’s overweight, also badly damaged ence for Latino online marketers held in Holly- around. my mom and dad, too,” her home, she and her wood, and Olmos delivered a rambling keynote “I went from the lowest lows to highest Roth said Roth, 43. “Every husband decided to about an impending economic collapse, the toll highs,” he said. “He brought me back from the night at 8 o’clock, that move elsewhere for a of Mexican drug wars and the miracles of med- precipice of being one of the worst people who ice cream got broken out.” fresh start. ical science. Olmos said he had watched the doc- messed up our economy to representing the But he, his wife and two kids have a very dif- She got a job as a umentary “Inside Job” about the economic melt- geniuses who will extend human life.” ferent lifestyle. clerk for old friend Burkes down 17 times and had compiled a list of promi- “I skateboard to school in the morning with Michael Alder of the nent economists he planned to hold accountable. Staff reporters Greg Hernandez, Alfred Lee and my kids and then I go for a run,” Roth said. “We Beverly Hills firm AlderLaw PC. She decided last He mentioned “the president of Harvard,” a refer- Joel Russell contributed to this column. Page 3 get on our bikes and we ride into town for dinner year to make the move permanent, so the 47-year- ence to Lawrence Summers, the former Treasury is compiled by Editor Charles Crumpley. He can and we ride our bikes home.” old Burkes passed the California Bar and Multi- secretary. be reached at [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 MAY 2, 2011
News and notes from communities across REGIONAL REPORT Los Angeles County Woodland Hills maker of software for Win- WESTSIDE dows PCs, has raised nearly $500,000 for the development of an app store. About $450,000 in funding was spearheaded by Don Waler- SANTA MONICA stein, founding partner of Brentwood law firm Rohner & Walerstein Law Corp. Internet Connection: MyLife.com, a Santa Monica-based people-search service, has acquired CitizenLocal.com, a deal-search site CENTRAL AREA owned by Dealometer Inc. of Irvine. The acqui- sition will expand MyLife’s capabilities under its Local Services & Deals search function. DOWNTOWN LOS ANGELES Financial terms of the deal were not disclosed. With Sole: Philanthropists Meyer and Renee Luskin have given $1 million to the Los WEST HOLLYWOOD Angeles Orthopaedic Hospital in downtown Los Angeles. The gift is the largest to the hos- Checking In: Pebblebrook Hotel Trust, a pital by an individual benefactor during his or publicly traded real estate investment trust her lifetime, and will help to endow a chair. based in Bethesda, Md., has agreed to pay $137 million for the Mondrian Los Angeles, a West Hollywood hotel owned by Mondrian RINGO H.W. CHIU/LABJ Regional Report Holdings LLC. The 237-room Mondrian West Hollywood: Game room at Mondrian hotel, which Pebblebrook is acquiring. To be considered for publication, Regional recently launched Spin Hollywood, a game Report submissions should be e-mailed to: room featuring table tennis. ties Inc., a publicly traded West L.A.-based reach in the mobile ad market. real estate services company, has announced [email protected] an underwritten public offering of 6.75 million Business news from companies in Los Ange- WESTWOOD shares. Hudson Pacific plans to use the pro- AGOURA HILLS les County or nearby areas is listed on the ceeds to repay debt, fund future acquisitions page. Please be sure that press releases Blockbuster Gift: Philanthropists John E. and for other corporate purposes. Game On: THQ Inc., an Agoura Hills specify the name of the city and the name of and Marion Anderson have give $25 million to video game company, has extended its the company along with the description of the UCLA Anderson School of Management, Warhammer 40,000 licensing agreement with the news. Submissions are evaluated on the the largest in the school’s history. The current SAN FERNANDO VALLEY Games Workshop, a Nottingham, England, basis of company size and the significance of gift brings to $42 million the amount the publisher of table-top strategy games. THQ has the announcement. The Business Journal Andersons have donated to the school, which shipped 6.5 million units of titles in the tries to include as many listings as possible, was named for John E. Anderson after the cou- WESTLAKE VILLAGE Warhammer series, and is working on console but some may not be published due to space ple’s first gift in 1987. and online games. limitations. On the Go: ValueClick Inc., a Westlake Please address all inquiries to the e-mail Village-based online marketing company, has address above. If you do not receive a WEST LOS ANGELES acquired Greystripe Inc., a San Francisco brand- WOODLAND HILLS response in a timely manner, focused mobile ad network, for $70 million in call (323) 549-5225, ext. 229. Stock Offering: Hudson Pacific Proper- cash. The acquisition expands ValueClick’s Fundraising Round: Nevolution LLC, a
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MAY 2, 2011 NEWS&ANALYSIS LOS ANGELES BUSINESS JOURNAL 5 Marquee Move FILM: Producer-distributor Bigfoot steps into exhibition by buying Westwood venue.
By GREG HERNANDEZ Staff Reporter that makes certain movies available through video on demand about 60 days after their theatri- HEN Bigfoot Entertainment Inc. cal launch. El Segundo-based DirecTV kicked unveiled its action flick “Deep off the service last month with the Adam Sandler W Gold” last month, it staged the pre- comedy “Just Go With It.” Theater owners con- miere at the old Crest Theatre in Westwood. tend that making movies available at home faster But it wasn’t just because of the theater’s back- than the current average of four months will hurt lit murals and its ceiling of star constellations. ticket sales. On the other side, the studios are try- It was because the company now owns the ing to make up revenue lost in the erosion of the place. DVD market, and they say they’ll be selling Bigfoot bought the Westwood Boulevard movies on demand to an audience that doesn’t go building for $4 million last fall and rechris- out to the multiplexes anyway. tened it Bigfoot Crest Theatre. Company “If you look at the distribution channels and founder Michael Gleissner sees the 7,500- see what is happening, it probably makes a lot of square-foot venue as a place to showcase the sense for theaters to start looking at producing movies Bigfoot makes and acquires as it their own product,” said theater consultant Marie branches out from film production to distribu- McClaflin, founder of Arc Brand Marketing in tion and, now, even exhibition. Mint Hill, N.C. “Bigfoot is actually doing it back- “Majestic Crest has been a theater that I ward by getting into exhibition after making films. truly love inside,” said Gleissner, who is also But everyone is looking at their revenue streams.” the writer and director of “Deep Gold.” “It was Bigfoot, founded by Gleissner in 2004, had RINGO H.W. CHIU/LABJ really thrilling to see the movie in such an been strictly focused on making films, including Name in Lights: From left, Gleissner and Andrews at Bigfoot’s Crest in Westwood. interesting historic setting.” such little-known titles as “Midnight Movie,” But the premiere was also noteworthy “Dog Walker” and “Three Needles,” until forming to distribute at least 10 films this year, two the great area and the parking is never any good,” because Bigfoot’s move into the theatrical distribution venture Bigfoot Ascendant last fall. company produces and eight it will buy. Brown said. “It’s really in kind of a residential- arena comes as the usually clearly defined func- “We realized doing it the traditional way All of those will likely screen at the Crest, retail area so you almost forget about it until tions of moviemaking, distribution and exhibi- where you make a film and go to a distributor, which is being operated by Columbus Georgia- you go by and see the marquee.” tion are blurring. Players in the industry are tak- they are the only ones who get any money based Carmike Cinemas Inc., the fourth Bigfoot has been working with local business- ing a fresh look at the standard business model back,” said Kacy Andrews, Bigfoot’s chief exec- largest exhibitor in the United States. es on the parking issue. The company stated that in which studios supply product to theaters and utive. “So we decided we have to be in the distri- “It’s our first location in Los Angeles and in parking is available in a lot behind the theater and then get a percentage of ticket revenue. bution game. We have to take a bigger piece of California,” said Gary Krannacker, Carmike’s at a nearby Ampco garage. Prices and hours vary. The nation’s two largest movie theater the pie and take out the middle man. It’s not vice president of operations. “We are certainly try- But Brown gives Bigfoot points for hiring chains, Kansas City, Mo.-based AMC Enter- smart business to let other people profit off your ing a lot of different types of strategies with late- Carmike to run the venue. The company’s tainment and Knoxville, Tenn.-based Regal product. We definitely had to take back control.” night shows, and premieres and events we feel clout with the studios, due to its having 240 Entertainment Group, have formed Open Bigfoot has about a dozen employees who can generate increased foot traffic to the Crest.” theaters in 36 states, should help. Road Films to acquire theaters in which they work in Venice and the company is planning to The 500-seat art-deco style Crest was Carmike’s Krannacker said ‘Deep Gold” can release their own independent films. open a film school in Burbank. It also has 100 founded in 1941 by Frances Seymour Fonda, will screen at the Crest until May 20, when it is Entrepreneur Mark Cuban and his business employees at its production facilities in Cebu, who was married to Henry Fonda and is the replaced by one of the summer’s most antici- partner Todd Wagner have already been doing Philippines. mother of Jane and Peter Fonda. It was origi- pated blockbusters: Disney’s “Pirates of the production, distribution and exhibition through Gleissner, who is based in Hong Kong, nally built for live performances but switched Caribbean: On Stranger Tides.” their Dallas-based 2929 Entertainment, which also wants the company to grow its Southern to movies during World War II. Bigfoot’s Andrews acknowledged that such includes ownership of production company California presence. “It’s from the era of movie houses like major titles are needed to keep the venue afloat. HDNet Films, Magnolia Pictures distribution “We are very excited about being in the Grauman’s Chinese Theater,” Gleissner said. “Because it’s a single-screen theater, it’s and the Landmark Theaters art-house chain. market,” he said last week from Bigfoot’s “It’s a very historic kind of institution.” difficult to drive traffic,” she said. “It’s not a (But Cuban recently confirmed that he is con- L.A.-area red-brick headquarters on Abbott Film industry consultant Brad Brown of huge moneymaker for us, but enough to keep sidering selling Magnolia and Landmark.) Kinney Boulevard. Westwood-based Brown Entertainment Group the doors open. A lot of people have forgotten The shift occurs as relations between Bigfoot’s movies typically have a production sees a rough road for the Crest. about the Crest, but we’ve tried to make an exhibitors and four of the major movie studios budget no bigger than $10 million and don’t “It’s a beautiful theater, but it’s always been effort to get out there and let people know that have been particularly strained over a new service feature big-name stars. The company is aiming a problem because it’s one screen, not in a it’s a glorious place to see a movie.” Three National Firms Set Up Court in Los Angeles
previous couple of years,” Hatch said. “I would Barnes & Thornburg LLP took six partners New York-based Dewey & LeBoeuf LLP. LAW: Recent run of office be surprised if you don’t see another opening from Akin Gump Strauss Hauer & Feld LLP But White O’Connor founding partner Andy openings has some local before the end of the year.” to start an office in Century City. White, 63, said small firms aren’t in danger. He He helped broker the acquisition of On the flip side, the news of said his firm turned down dozens of potential lawyers hailing a recovery. storied 15-attorney boutique White White O’Connor’s acquisition has acquisition offers over the years, and might never O’Connor Fink & Brenner LLP by also caused some hand-wringing have approved one if Kelley Drye hadn’t offered By ALFRED LEE Staff Reporter white-shoe New York firm Kelley about the future of small indepen- to cede some of the control of the L.A. office. Drye & Warren LLP. White O’Con- dent firms in Los Angeles. In Feb- “People have said the small local law firm is Three national law firms have launched nor, known for handling litigation for ruary, five attorneys from Century a dying breed, but I don’t think it is,” he said. L.A. offices in a two-month span, a sign that TV networks and movie studios, will City entertainment boutique Jack- White O’Connor was founded by White and the local market is on a definite rebound. remain in Century City under the ban- oway Tyerman Wertheimer Michael O’Connor after they left what was then Dan Hatch, a partner at San Rafael-based ner Kelley Drye/White O’Connor. Austen Mandelbaum Morris & Christensen White Miller Fink & Jacobs in 1996. recruiting firm Major Lindsey & Africa, which Last month, Dechert LLP also Klein LLP left for the local offices Since then, the firm has worked with studios and helped engineer one of the deals, said he hasn’t opened an L.A. office with four part- White of Washington, D.C.-based Ven- networks including CBS, ABC, Disney, Warner seen so much activity since the downturn. ners from Orrick Herrington & able LLP. Also, 10 attorneys from Bros. and Fox. Last year, it won a high-profile “It signals a resurgence in interest in our Sutcliffe LLP’s white-collar and securities litiga- local bankruptcy boutique Hennigan Dorman appellate decision on behalf of CBS in a defama- market that we haven’t seen too much of in the tion practice. In late February, Indianapolis-based recently left for the downtown L.A. office of tion case involving the show “CSI.” 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 MAY 2, 2011
DO YOU HAVE A COMMERCIAL REAL ESTATE LOAN?
REFINANCE RINGO H.W. CHIU/LABJ Hoping to Connect: Chief Executive Greg Liberman at Spark’s Beverly Hills office. WITH A Dating Website Operator SBA 504 LOAN Looking to Click Longer
INTERNET: New CEO of Spark Networks Inc. (AMEX: LOV) Beverly Hills FRI. CLOSE, PAST 5 WKS For the first time ever, you can refinance 3.6 Spark hopes to extend CEO: Greg Liberman 3.5 existing, non-SBA, commercial real estate services beyond romance. Employees: 144 Apr. 28: $3.21 3.4 3.3 Market Cap: $66.1 million debt using the SBA 504 loan program. By NATALIE JARVEY Staff Reporter 3.2 P/E*: 18 3.1 3.0 You can refinance loan amounts up to 90% Could the new man at the helm of Spark EPS: $0.18 3/25 4/1 4/8 4/15 4/21 Networks Inc. be what the Beverly Hills *Twelve months trailing. Source: Yahoo Finance of current appraised property value (or 100% online dating company needs to ignite its business? So Spark launched Spark.com, a lower- of the outstanding principal - whichever is Although Spark has not kept pace with the price site that combines games and social net- lower). Loans in excess of 90% appraisal can growth in the online dating industry, Greg working, in late 2009, and shut down Ameri- Liberman, the company’s new chief executive, canSingles.com last year. But Liberman said be refinanced with additional collateral. sees the opportunity to grow subscriptions to the company has not yet made a significant Spark’s niche websites. Part of his plan is a effort to draw membership to Spark.com. suite of new sites that appeal to both single “It’s out there and live, but it’s not the pri- members and those who’ve already made a mary focus,” he said. “The primary focus is on love connection. our niche communities, where we feel like Below market, FIXED interest rate for 20 years. Spark, which operates 28 dating websites we’ve got a lot of traction.” including Jewish singles site JDate.com, Spark’s revenue was $10.1 million in the Contact us to learn more and get prequalified today! named Liberman chief executive April 11 after fourth quarter last year, down 9 percent from former Chief Executive Adam Berger the same period in 2009. Net income was announced his resignation. $626,000 compared with a net loss of $9.6 mil- Like most subscription-based online dating lion in fourth quarter 2009. (The 2009 earnings companies, Spark saw a drop in subscribers were dinged by an impairment charge.) “This new refinancing program is the most significant and revenue during the recession. Liberman said net income grew despite the change in SBA lending since the start of the recession.” Spark’s competitors, including Match.com revenue decline because the company in Dallas and Santa Monica’s eHarmony.com, decreased spending on marketing and its gen- - Barbara Morrison, CEO & President,TMC have started to bounce back. But Spark has eral market websites. struggled to get the lovelorn to log back on, said He added that fourth quarter revenue Caitlin Moldvay, an industry research analyst increased 2 percent from the third quarter last who covers online dating companies for Ibis- year and subscriptions rose, which means, he World in Santa Monica. believes, that the company is back on a growth “They’ve been facing a fair number of chal- trajectory. lenges,” she said. “Their revenue is declining, “The fourth quarter tends not to be the and their advertising spending is far below the greatest quarter in the world, but this year we industry leaders.” ramped up subscriptions to some of our other The online dating industry had an average affinity sites,” he said. “That’s what drove the annual revenue growth of 4.9 percent from increase.” 2005 to 2010 while Spark had an average rev- Ranked by market share, according to Ibis- enue decline of 9 percent in that period, Mold- World, Spark is the fourth largest online dating vay said. and matchmaking company with 2 percent. Spark operates dating sites in three different IAC/InterActiveCorp., which owns segments. Its Jewish Networks segment Match.com and other dating sites, leads the includes JDate and other Jewish sites. All other pack with a nearly 19 percent share, followed niche sites, including ChristianMingle.com and by eHarmony with 12.4 percent and Vertrue BlackSingles.com, fall under the Other Affini- Inc., which owns Toronto-based dating site ty Networks segment. Spark also operates sites Lavalife.com, with 4.2 percent. meant for a larger audience under its General The 144-person company’s best chance at For more information, please contact: Market Networks segment. growth is with its niche sites because there’s The recession caused an overall decline in less competition in that market, Moldvay Spark’s subscriptions, but the Other Affinity said. Jacky Kim Networks segment saw some growth. But “Their affinity networks segment is one of Liberman attributes the majority of the compa- the things they should be focusing on,” he said. 310.621.6117 tmcfinancing.com ny’s revenue decline to its general market dat- ing sites. Please see ONLINE page 7 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page
MAY 2, 2011 NEWS & ANALYSIS LOS ANGELES BUSINESS JOURNAL 7 Failed Corporate Credit Union Banks on New Board
er more than $1 billion from 16 of the credit two dozen nationwide and provide services to providing settlement services and basic liquidi- BANKING: Ex-directors union’s former directors and officers for retail credit union members, including liquidi- ty, but not providing long-term investment ser- of WesCorp still fighting allegedly pursuing overly risky investments ty, check-clearing and ATM transaction ser- vices like WesCorp did.” that led to WesCorp’s collapse. vices, which would be too expensive for credit He said it should receive word on the pro- billion-dollar lawsuit. Lawyers for the defendants, who include for- unions to handle individually. posal within a couple of weeks. mer California Credit Union League Chief Execu- Traditionally, corporate institutions also While the new institution is expected to be up By RICHARD CLOUGH Staff Reporter tive Bill Cheney, have filed motions to have the have invested their members’ surplus cash, and running by October, it remains to be seen charges thrown out. A hearing on the motions is which was a problem during the financial cri- whether the credit union industry will embrace it. The corporate credit union formerly known scheduled for June 9 in Los Angeles federal court. sis. WesCorp placed increasingly large bets on WesCorp’s failure resulted in losses for most of as WesCorp is trying to move past its troubled Matt Davidson, who was elected to Western risky investments, including mortgage-backed its 1,100 members, and those same retail institu- recent history, even as its former directors fight Bridge’s board, had some reservations about the securities, which led to large losses. tions will have a choice whether to join the newly a billion-dollar lawsuit. appointment given the troubles facing the former Davidson noted that regulators have since created corporate credit union. Instead, they The San Dimas institution, which failed in directors, but he said the importance of reconsti- changed the rules governing corporate credit could turn to other corporate credit unions, or 2009 and was reconstituted as Western Bridge tuting the credit union outweighed his concerns. unions, which make it unlikely that the surviving even to the Federal Reserve for liquidity services. Corporate Federal Credit Union, has installed a “It’s impossible to say I didn’t think about it, but entity will get into similar trouble. Among the “There’s some caution, sure, because a lot new seven-member board of directors, regulators it was really a minor issue to me,” said Davidson, changes, corporate credit unions must now hold of credit unions, including (mine), lost said. The board, comprising credit union execu- who is the chief financial officer of Kern Schools more capital, and are prohibited from investing in money,” Davidson said. “I hope they all come tives from across the West, will help lead the insti- Federal Credit Union in Bakersfield. “When you mortgage securities and other risky asset classes. back, but some will leave and some will join tution as it seeks a charter for a credit union that create any new business, there are risks.” Davidson said the board has submitted a other corporate credit unions. The new corpo- will replace Western Bridge, an interim institution. Corporate credit unions number only about business plan for the new entity that “has us rate credit union will be smaller.” The credit union, which suffered more than $7 billion in losses during the financial crisis, has been without an independent board for more than two years as it remained under conserva- torship of the industry’s regulatory agency, the National Credit Union Administration. Meanwhile, regulators are seeking to recov-
Online: Spark Plan Looks to Go Past Date Expirations
Continued from page 6 NEW APPOINTMENT ANNOUNCEMENT April 2011
“Niche dating markets experience a lower level of competition so revenue is typically more stable.” Liberman began his career at Spark in 2004 as general counsel. He became chief operating offi- cer in 2005 and president in 2006. Berger, the company’s chairman and chief executive since UGL Limited announces the appointment of 2007, resigned to become CEO of Van Nuys online printing company Digital Room Inc. He Robert “Bob” Shibuya to Group President of will stay involved with Spark as a director. UGL Services. In this newly formed position, “I felt I had brought Spark a long way from Bob is responsible for UGL Services globally. four years ago,” Berger said in a statement in response to a Business Journal question. “At These services encompass facilities management, the same time as I was thinking about how to maintenance, transaction advisory and portfolio/ fulfill the promise of promoting executive tal- consulting services to corporate, education, ent from within Spark, I was approached by Digital Room Inc. It was facing growing pains retail, government and public institutions in and challenges, which I knew how to fix.” North America, Australia, New Zealand, Asia Liberman said he has taken over leadership Pacific and the Middle East. of Spark at an important time for the company, as he sees big growth potential for some of the Other Affinity Network sites. In addition to overseeing UGL Services’ existing businesses, Bob will also focus on broadening After love connection The company is exploring ways to keep the firm’s services platform and global reach to members coming back even after they’ve made a better serve its existing clients and enhance its love connection on the dating sites. To do this, overall global competitive position. Spark has launched Believe.com and JPicks.com, websites without dating components aimed at Spark’s large database of current subscribers. Believe, which launched in August, is a faith- based website meant for people who use Spark’s Christian dating websites. It features sermons, testimonials, and advice on relationships and rais- ing children. JPicks, which launched in January, is a daily deal website for members of its Jewish networks that offers discounts on shops, eateries and entertainment venues in Los Angeles. UGL SERVICES | 555 WEST 5TH STREET | 45TH FLOOR Traditionally, Spark’s websites lose cus- LOS ANGELES, CA | 90013 | 213-426-3000 | WWW.UGLSERVICES.COM tomers after they make love matches. Liber- man said the challenge has been finding a way to get those customers to stay even after they’ve found a mate. “At the end of the day, our core business is putting ourselves out of business,” he said. “JPicks is an opportunity to extend the life of our members on JDate and give other people in the Jewish com- munity the opportunity to interact with us.” 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 MAY 2, 2011 $25 Million Gift Puts Fundraising Goal in Reach EDUCATION: Anderson School also bolsters its independence campaign.
By HOWARD FINE Staff Reporter
The $25 million donation that John and Marion Anderson announced last week for their namesake Graduate School of Manage- ment at UCLA will help the school meet its fundraising goal – just as the end of a four- year, $100 million campaign approaches. What’s more, the donation is likely to strengthen the case for the business school to end its reliance on state funding and become financially self-sufficient. That plan, intro- Blockbuster: From left, the Anderson business duced last fall, is being evaluated by university school building at UCLA in Westwood; Judy administrators and could be voted on this fall. Olian and John Anderson. “Any time you have vulnerabilities related RINGO H.W. CHIU/LABJ to state support, you have to fall back on pri- vate donations,” said Judy Olian, Anderson scholarship and I’ve never forgotten that,” the campaign. She would not say whether her The school would instead rely upon fundrais- dean. “This donation provides some offset in Anderson said in a press release announcing father intends to donate any more to the school ing and it would increase tuition from the cur- this challenging environment.” his most recent donation. “The lessons and val- as part of his estate. rent $41,000 for state residents and $49,000 for With the $25 million donation, the Ander- ues I learned while attending UCLA shaped Money raised through the campaign is nonresidents. son family has given a total of $42 million to my thinking throughout my business and com- going directly to the school’s general endow- The self-sufficiency initiative was original- the graduate school, becoming by far its most munity life. Giving back to the school is my ment, which stood at roughly $115 million ly slated to go into effect at the beginning of substantial donor. The school was renamed in way of enabling future generations to have the before the latest $25 million donation from the the 2011 academic year. But it ran into some the family’s honor after the first gift of $15 kind of opportunities that UCLA offered me.” Andersons. The endowment supports scholar- turbulence last fall as the executive board of million in 1987. The timing of the gift is crucial. The $100 ship funds for students and continued expan- the UCLA Academic Senate voted against the John Anderson, 93, received his bachelor’s million four-year fundraising campaign draws sion of the school’s curriculum as well as plan, saying its impact on the entire university degree in business administration from UCLA to an end this fall, coinciding with the business efforts to recruit faculty from around the globe, needed more consideration. and his two sons received graduate degrees school’s 75th anniversary. and support them in their teaching and Olian said last week that UCLA administra- from the university. He has since gone on to Olian said the school will announce the research. tors were still evaluating the plan and that it establish a business empire of more than 40 final numbers when the campaign ends. But This campaign, begun in fall 2007, is sepa- could be finalized later this year. separate companies under the Topa Equities she acknowledged that the school now expects rate from the self-sufficiency initiative The ability to raise substantial sums of Ltd. banner. Holdings include real estate, auto to meet its $100 million goal thanks to last announced last fall. That initiative was money could strengthen the case for the self- dealerships and beverage distribution compa- week’s donation. launched in response to several rounds of state sufficiency proposal. nies. The combined value of Topa’s companies Judy Munzig, the Andersons’ daughter and budget cuts to the University of California sys- “This donation builds our endowment, and is nearly $2 billion. vice president of Topa, confirmed that the tem. If it goes into effect, it would end the that’s crucial at a time when state funding is “I was very lucky to come to UCLA on a donation was timed for the closing months of business school’s acceptance of state money. being cut back,” Olian said.
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MAY 2, 2011 LOS ANGELES BUSINESS JOURNAL 9
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10 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS MAY 2, 2011
MEDIAWATCH
MOVIE BOX OFFICE Weekend Gross Total Gross Rank Title (millions) (millions) Distributor 1 Rio $26.3 $80.8 20th Century Fox 2 Madea's Big Happy Family 25.1 25.1 Lions Gate 3 Water for Elephants 16.8 16.8 20th Century Fox 4 Hop 12.2 100.2 Universal 5 Scream 4 7.0 31.0 Dimension 6 African Cats 6.0 6.0 Disney 7 Soul Surfer 5.4 28.5 FilmDistrict 8 Hanna 5.3 31.7 Focus 9 Insidious 5.2 44.0 FilmDistrict 10 Source Code 5.1 44.7 Summit Weekend ended April 24 Source: Bloomberg News PRIMETIME TV SHOWS Rank Program Network Rating* 1 American Idol (Wed.) Fox 12.7 2 Dancing With the Stars (Mon.) ABC 12.7 RINGO H.W. CHIU/LABJ 3 American Idol (Thurs.) Fox 11.5 Checked Back In: Beny Alagem in 2008 with a model of the Beverly Hilton project. 4 Dancing With the Stars (Tues.) ABC 10.4 5 NCIS CBS 8.5 Week ended April 24 *Each rating point equals 1.1 million homes. Source: Bloomberg News Owner of Beverly Hilton CABLE TV SHOWS Rank Program Network Rating* 1 (tie) Pawn Stars History 3.9 Takes Hotel Off the Block 1 (tie) NBA Playoffs (Los Angeles Lakers vs. New Orleans) TNT 3.9 3 Pawn Stars History 3.5 4 NBA Playoffs (New Orleans vs. Los Angeles Lakers) TNT 3.4 stayed in the building. The hotel is the site of 5 NBA Playoffs (Indiana vs. Chicago) TNT 3.2 REAL ESTATE: Oasis West about 175 red-carpet events each year, includ- Week ended April 24 *Each rating point equals 1.1 million homes. to pursue equity partner ing the Golden Globe Awards, and serves as Source: Bloomberg News home away from home for heads of state, with TOP SELLING ALBUMS and restructure debt. President Obama staying there on his recent trip to Los Angeles. Rank Last Week Artist Title Label By JACQUELYN RYAN Staff Reporter It’s surrounded by other high-profile hotels 1 New Foo Fighters Wasting Light RCA Records including the Peninsula, Montage and Beverly 2 1 Adele 21 Columbia If you were thinking about buying the Bev- Wilshire. 3 New Alison Krauss + Union Station Paper Airplane New Rounder erly Hilton, your time is up. Since purchasing the hotel, Alagem has 4 New Paul Simon So Beautiful or So What Hear Music The iconic hotel’s owner, Oasis West worked to revitalize it as a stronger competi- 5 New Mana Drama y Luz WM Mexico Realty LLC, is no longer planning to sell the tor with its neighbors. He immediately Week ended April 29 Source: Billboard.com property, but instead will seek an equity part- launched an $80 million renovation as he MOVIE RENTALS - DVD/VHS ner while restructuring a $300 million debt that worked to update the 570-room hotel’s image will mature in August, several sources told the and amenities. Rank Last Week Title Distributor Business Journal. In 2006, the Beverly Hilton received $300 1 1 Little Fockers Universal The company has received many offers for million in nonrecourse refinancing from Col- 2 2 Tron: Legacy Disney the 9-acre property, but none has been umn Financial, a subsidiary of Credit Suisse,a 3 New Harry Potter: Deathly Hallows Warner Bros. amenable to management. After six months on financial services company headquartered in 4 6 Narnia: Dawn Treader 20th Century Fox the market, the company has begun negotia- Zurich, Switzerland. It would help to fund the 5 3 Black Swan 20th Century Fox tions with undisclosed sources that could pro- proposed hotel and condo project on the Week ended April 17 Source: Rentrak vide some kind of capital infusion. Hilton’s grounds. But the project stalled and Oasis West Chief Executive Beny Alagem, that loan will mature in August, leaving DVD SALES who made his wealth as the co-founder of Alagem with a decision to make: sell or find a Rank Last Week Title Distributor Suggested Retail Packard Bell Electronics, purchased the hotel partner. 1 New Harry Potter: Deathly Hallows Warner Bros. $28.98 from Merv Griffin in 2003 for $130 million. James Sinclair, principal at OnSite Con- 2 4 Narnia: Dawn Treader 20th Century Fox 29.98 The lot is entitled for an additional 12-story sulting, an L.A.-based hospitality consultancy, 3 2 Tangled Disney 29.99 hotel and two condominium buildings near the said it won’t be too much of a challenge for 4 1 Tron: Legacy Disney 29.99 corner of Santa Monica and Wilshire boule- Alagem to find a partner, so it’s not a despera- 5 3 Little Fockers Universal 29.98 vards, a plan that drew such stringent objections tion play. The owner has connections to many Week ended April 17 Source: Rentrak from Beverly Hills locals that they placed a international financiers. measure on a 2008 ballot to stop it; the measure “Beny’s not going anywhere,” Sinclair said. MOVIELINK DOWNLOADS failed. The five-star luxury Waldorf-Astoria, “It’s not a dire situation. You have to remem- Rank Title Distributor Suggested Retail also a Hilton Hotels Corp. brand, has signed ber who you are dealing with. We’re not deal- 1 Harry Potter: Deathly Hallows Warner Bros. $15.95 on to place a flag once that hotel is built. ing with someone who’s just fiddling around in 2 Gulliver's Travels 20th Century Fox 15.95 In November, Alagem began exploring business. He could pick up the phone to any- 3 Little Fockers Universal 15.95 selling the Beverly Hills property shortly after one in the world.” 4 Narnia: Dawn Treader 20th Century Fox 15.95 a neighboring 9900 Wilshire Blvd. building, The 12-story hotel that Alagem plans will 5 Country Strong Sony 15.95 the former Robinsons-May, sold for $148 mil- have 170 rooms; the two condo buildings will Week ended April 27 Source: Cinemanow.com lion to a group of Asian investors. have 36 and 74 units, respectively, as well as Representatives for Oasis West said that the more than 2,000 parking spaces. In order to company had only been testing the waters for a build the Waldorf-Astoria, which will be four OUTTAKE OF THE WEEK buyer and was always open to alternatives. The stories taller than the existing Hilton, Alagem will raze more than 200 existing hotel rooms at CROSS-DRESS property remains on the market officially, but the Hilton outside the main building. FOR SUCCESS sources said that Oasis West would not be con- sidering any offers. Peter C. Anderson, founder of Santa Moni- Filmmaker Tyler Perry It’s not clear what type of investor Oasis ca-based hospitality consultancy Anderson & continues to score at the West is looking for. Associates, said that a smart hotelier would box office with his “We continue to explore all our options and take a long view on how to finance the proper- signature blend of will be making our decision in the coming ty and its proposed expansion. slapstick and schmaltz. months,” said Beverly Hilton spokeswoman “Hospitality is cyclical. So in order to play His latest, “Tyler Perry’s Marie Garvey. the game for the long haul, you have to be able Madea’s Big Happy to appreciate downturns and recovery periods, Family,” featuring Perry, Local landmark and you have to look at your behavior and left, in drag again as Opened in 1955 by Conrad Hilton, the Bev- investments over a long time,” he said. “You Madea, had a strong $25 erly Hilton was made famous by the rich and can’t look at this as if is this is the right deci- million-plus debut. famous who wandered its grounds. Pictures of sion for today. In the next generation or two, legendary figures such as President Kennedy that’s when we’ll decide what the right deci- line the hallways as reminders that they once sions were.” 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page
MAY 2, 2011 LOS ANGELES BUSINESS JOURNAL 11
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The year 1969 – like many before and after – was a year heavily punctuated with challenge and frustration, opportunity and content. There certainly was ample *OHN 4RACY #LINIC s *ONES $AY 2EAVIS 0OGUE s *ULIEN * 3TUDLEY )NC s +IRKLAND %LLIS s +0-' 0EAT -ARWICK ,,0 s ,EWIS $!MATO "RISBOIS "ISGAARD s ACY #L C s *ONES $AY 2EAVIS 0OGUE s *ULIEN * 3TUDLEY )NC s +IRKLAND %LLIS s +0-' 0EAT -ARWICK ,,0 s ,EWIS $!MATO "RISBOpotential for accomplishment or failure. Admittedly, many crystal balls were "ISGAARD blurred, and few experts risked predictions. Especially glowing ones. the doors , forty-two years ago this month, In such an unsettling environment ,OEB AND ,OEB s ,OS !NGELES $ODGERS s ,OS !NGELES 2EGIONAL &OOD "ANK s ,OS !NGELES 2OTARY #LUB s ,OS !NGELES 4IMES s ,OYOLA ,AW 3CHOOL s -ARCH OF $IMES s D ,OEB ,OS !NGELES $ODGERS s ,OS !NGELES 2EGIONAL &OOD "ANK s ,OS !NGELES 2OTARY #LUB s ,OS !NGELES 4IMES s ,OYOLA ,AW 3CHOOLof Carl Terzian Associates were opened – ever so gently – with a few nervous s -AR H OF $IMES clients and a unique concept as public relations consultants. Since then more than 5,000 clients from commerce, charity, government and the professions have placed their confidence in us – and we in them. -'- s -ONSANTO s .ESTLE s .ORTHERN 4RUST "ANK s .ORTHWs -ONSA s .ESTLE s .ORTHERN 4RUST "ANK s .ORTHWESTERN -UTUAL ,ESTERN -UTUAL ,IFE )NSURANCE #OMPANY s /CCIDENTAL 0ETROLEUM s /GILVY -ATHER s 0ACIlC $INING #AR s E )NSURANCE #OMPANY s /CCIDENTAL 0ETROLEUM s /GILVY -ATHER s 0AC C $$IINNING #AR On this significant anniversary, we take pride in belonging to the impressive Los Angeles business community, and we thank our friends for loyalty, patience and support and for affording us the chance to contribute to a better, finer, more 0ACIlC ,UTHERAN 5NIVERSITY s 0EPPERDINE 5NIVERSITY s 0ERINOS 2ESTAURANT s 0RICE7ATERHOUSE#OOPERS ,,0 s 2ALPHS 'ROCERY #OMPANY s 2EGENCY #LUB s 2+/ 2ADIO s ,UTHERAN 5 IVERSITY s 0EPPERDINE 5NIVERSITY s 0ERINOS 2ESTAURANT s 0RICE7ATERHOUSE#OOPERS ,,0 s 2ALPHS 'ROCERY #OMPANY s 2EGENCY #LUB s 2rewarding tomorrow. +// 2ADIO priate and understandable We also recognize that today there is appro economic and personal anxiety, excessive national and global turmoil, and 2USSELL 2EYNOLDS 2EYNOLDS !SSOCIATES SSOCIATES s severe 3AINT turbulence *OHNS in (OSPITAL the marketplace. (EALTH #ENTER However, s historically 3CHULZE America (AYNES has #O s 3 3HEPPARD HHEPPAR effectively tackled every crisis. And assuredly we again will repeat our success.
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12 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS MAY 2, 2011
Last week’s major news from labusinessjournal.com NEWS OF THE WEEK and other sources
Schieffer SUED: The cities of Los Dionisio nesses show advertising to Angeles and Glendale have local customers on the Inter- labusinessjournal.com filed fraud lawsuits against net. Under the Google deal, The best source for up to the minute local, national and Advanced Development and ReachLocal will be a pre- worldwide business news. Investment Inc., one of South- ferred global partner in over- FREE MORNING UPDATE ern California’s largest devel- seas markets for the Google opers of low-income housing. search engine’s AdWords sys- Prepared by the editors of the Los Angeles Business Journal The lawsuits accuse the com- tem, which links search and sent to you by e-mail every business day. Sign up now at www.labusinessjournal.com pany of shoddy work and results to ads. In addition to padding its billings on 15 low- the United States, ReachLocal income apartment projects. Los already operates in Canada, … Reliance Steel & Alu- DODGERS DRAMA: Tom Angeles had paid the developer PROMOTIONS: As part of Australia, the United King- minum Co. reported net Schieffer took over as the more than $29 million over the its succession strategy, dom and Germany. income of $92.3 million, 106 Major League Baseball- course of 10 years. Glendale Aecom Technology Corp. percent higher than a year appointed monitor of the Los gave ADI roughly $34 million has appointed Chief Execu- NEW TENANTS: The earlier. Sales increased 32 Angeles Dodgers business for four low-income projects. tive John Dionisio chairman, owners of the former MGM percent to $1.91 billion. … and finance operations. The The U.S. attorney in Los Ange- effective Oct. 1, and promot- Tower have found a new CB Richard Ellis Group former Texas Rangers presi- les also has opened an investi- ed three other executives. major tenant for the 35-story Inc. reported net income of dent was appointed by MLB gation, since ADI also received Dionisio, 62, who has been Century City office tower. $34.4 million compared with Commissioner Bud Selig, millions of dollars in tax credits president-chief executive Investment bank Houlihan a net loss of $6.6 million a who was concerned by reports from the state. since 2005, has been with the Lokey has signed a lease to year earlier. Revenue rose 16 of a cash crunch at the fran- L.A.-based engineering ser- move its headquarters to the percent to $1.2 billion. … chise that had lead club owner DONATION: Margie vices company since 1971. fourth, fifth and sixth floors DreamWorks Animation Frank McCourt seek a variety Petersen, the widow of auto- He will continue to be CEO of the building at 10250 PBS’ flagship station for SKG Inc. reported net of loans. McCourt continues motive magazine publisher and succeed founder and Constellation Blvd. in a $60- Southern California, is in dis- income of $8.8 million, 59 to assert that a pending deal Robert E. Petersen, has given longtime Chairman Richard million lease transaction. cussions to move to other percent lower than a year ear- with Fox, the team’s televi- $100 million in money, build- Newman, 76, who will MGM announced it would production facilities in the lier. Revenue fell 33 percent sion partner, would provide ings, land and cars to her hus- remain on the board in the L.A. area. Since leaving PBS, to $108 million. … Avery sufficient financial stability band’s namesake Petersen role of chairman emeritus. the station moved to an eclec- Dennison Corp. reported net for the business. Automotive Museum on Chief Financial Officer tic lineup that includes “BBC income of $44.8 million, 18 Wilshire Boulevard. The gift Michael Burke will take over World News,” “Al Jazeera percent lower than a year ear- VERNON BILL: AB 46, a Dionisio’s president job. English” and reruns of the lier. Revenue grew 7 percent bill to dissolve the industrial Helen Mirren police series to $1.66 billion. … Teledyne city of Vernon, overwhelm- CASH INFUSION: A group “Prime Suspect.” Technologies Inc. reported ingly passed the state Assem- of Canadians has agreed to net income of $32 million, 28 bly despite fierce opposition invest nearly $15 million in EARNINGS: Occidental percent higher than a year from Vernon businesses and American Apparel Inc. and Petroleum Corp. reported earlier. Revenue rose 16 per- labor groups. Assembly could add as much as $28 net income of $1.55 billion, cent to $468 million. … Speaker John Perez, D-Los million in the next six months 46 percent higher than a year ReachLocal Inc. reported a Angeles, whose district to enable the L.A. apparel be breaking its lease and earlier. Revenue rose 24 per- net loss of $3.4 million, 48 includes Vernon, introduced Petersen Museum maker and retailer to avoid moving to a less-expensive cent to more than $5.73 bil- percent larger than a year the bill in the wake of a scan- bankruptcy. The investors will facility in Beverly Hills after lion. … East West Bancorp earlier. Revenue rose 32 per- dal that led to the indictment from the Margie and Robert E. be able to exchange their cash emerging from bankruptcy Inc. reported net income of cent to nearly $84.1 million. of a former city administrator Petersen Foundation includes and warrants for shares priced protection in December. The $54.4 million, 189 percent … Skechers USA Inc. on conflict-of-interest the museum’s Miracle Mile at a significant discount. If tower has been renamed higher than a year earlier. reported net income of $11.8 charges. Supporters said that facility and adjoining parking they exercise all their war- Constellation Place by its Total revenue rose 9 percent million, 79 percent lower because Vernon has only garage, and Robert Petersen’s rants as expected, they would owners, a partnership lead by to $193 million. … City than a year earlier. Sales fell about 90 residents, the only collection of 135 cars, many own nearly one-third of out- JMB Realty Corp. National Corp. reported net 3 percent to $476 million. … way to rid the city of corrup- of which have been on display standing shares. income of $39.7 million, 197 Wilshire Bancorp Inc. tion is to dissolve it and have at the museum over the years. SOLD: Independent non- percent higher than a year reported a net loss of $52.1 the area administered by Los The museum, which opened in GOOGLE DEAL: Wood- profit television station earlier. Revenue rose 9 per- million compared with net Angeles County or a neigh- 1994, draws about 150,000 land Hills online marketing KCET-TV has sold its studio cent to $275 million. … income of $2.4 million a year boring city. The state Senate visitors a year, plans to use company ReachLocal Inc. on Sunset Boulevard to the Northrop Grumman Corp. earlier. Interest income fell is expected to consider some of the money to refur- has announced a search Church of Scientology for an reported net income of $530 14 percent to $35.6 million amendments to address cost bish the museum and hire staff advertising partnership with undisclosed amount. The sta- million, 13 percent higher and noninterest income rose concerns raised by Vernon for a planned endowment Google Inc. ReachLocal tion, which at the beginning than a year earlier. Revenue 19 percent to nearly $8.7 businesses. campaign. helps small to midsize busi- of the year gave up its role as fell 3 percent to $6.73 billion. million.
Advertising Feature
Hirings, promotions and special People on the Move accomplishments in local business
TECHNOLOGY ENGINEERING ADVERTISING Global technology industry leader IBE Consulting Engineers—a leading The Inter/Media Group of Companies SAP® named Woodland Hills-based mechanical, electrical, and plumb- has named Tim Gerrity Senior Vice BlackLine Systems a Finalist ing engineering firm—announces the President and CFO. Tim previously for a 2011 Pinnacle Award in the addition of Dawn Hollingsworth, LC, served as CFO for Herbalife Interna- Software Solution Newcomer of the IALD, as director, IBE Lighting Design. tional, where he was instrumental in Year category. SAP’s prestigious Hollingsworth’s award-winning design its expansion and success. Gerrity is annual awards recognize the expertise and management experi- responsible for finance, accounting “best and brightest” of the SAP ence reinvigorates the in-house and acquisitions for the Inter/Media ecosystem, honoring partners that department that offers comprehen- Group of Companies encompassing Therese Tucker have “excelled in developing their Hollingsworth sive interior and exterior lighting Gerrity 10 separate business units. CEO & Founder, partnership with SAP.” design services. IBE: Ideas for the BlackLine Built Environment.
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MAY 2, 2011 LOS ANGELES BUSINESS JOURNAL 13
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14 LOS ANGELES BUSINESS JOURNAL PEOPLE MAY 2, 2011
RINGO H.W. CHIU/LABJ Course Correction: David Burcham, president of Loyola Marymount University, on the campus of the Catholic institution in Westchester. Attorney and professor David Burcham laid down the law literally to become the first layperson to serve as New Calling president of Loyola Marymount University.
By HOWARD FINE Staff Reporter What was it like growing up in Long What was that like? cross-examination. For many hours, it was just me Beach? During the first month or two, I became a little and Bob in a room with thousands of documents. AVID Burcham is the first layperson We always had an inferiority complex growing cynical. As I got to see it from the inside, the to lead Loyola Marymount Univer- up in the shadow of Los Angeles. People Supreme Court didn’t seem like the highly What was Bob Crandall like? sity, which was founded 100 years called us “Iowa by the sea.” But it was a terrif- deliberative body I thought it would be. But it He’s absolutely brilliant and he has a very D ago by Jesuits. He will now lead the ic place to grow up. I remember as a kid going grew on me and, after a while, I found it is a strong will. Sometimes people with strong Catholic university through a modernization of all the time to the Pike and paying 35 cents to wonderful system. wills can be stubborn to a fault, but the thing its campus and try to bring it out from the shad- have the roller-coaster ride of your life. about Bob, he was usually proved to be right. ow of regional powerhouses UCLA and USC. Did you see White every day? To do so, Burcham, who began the president’s Why did you decide to go to law school? Yes. I’d see him as the clerks met with him to Sounds like you were headed for a suc- job in March, will have to tap the region’s busi- I was a dissertation away from a Ph.D. in edu- go over the cases before each day of argu- cessful big-time career. Why did you then ness community for hundreds of millions of dol- cation policy in the late 1970s. But I came to ments. He would aggressively take issue with decide to go teach law? lars over the next decade. He became a profes- the realization that the significant policy deci- us clerks and a good donnybrook would some- It was a hard decision. Remember, I gave up a sor of constitutional law at Loyola Law School sions weren’t being made by educators; they times ensue. I’d say there were some quite vig- career in education to go to law school and that 20 years ago, where he later was named dean. were being made by lawyers and judges. So I orous exchanges. I think he took the same decision had always nagged at me a bit. As I Before he joined the law school, he was a part- decided to attend law school and use that as a aggressive approach that he had as a football grew older, I found I wanted to get back into ner at Gibson Dunn & Crutcher, where he rep- tool to continue to influence educational poli- player. I found he had a fine mind and it was a education. So I quit Gibson Dunn and joined resented controversial American Airlines chief cy. That was my plan going in. But after my real pleasure to work for him. the faculty at Loyola Law School. Robert Crandall, among others. Before that, he first year at law school, I found I really loved clerked for a federal appeals court judge and it. I loved all the subjects, so I decided I better Any cases or stories that stood out? What was the biggest adjustment you had U.S. Supreme Court Justice Byron White. He have an open mind about my career. There was a Fourth Amendment case involv- to make coming from the world of corpo- hails from an old-line Long Beach family with ing search and seizure that he and I were argu- rate law to teaching at a law school? deep roots in local education and religious Any interesting cases while you were ing about. As we were going over the case, he The biggest adjustment was in the scholarship. institutions. He recently met with the Business clerking on the federal appeals court? blurted out, “Who taught you about search and I was free to take a position or a stance and not Journal in his campus office and talked about Yes. We dealt with several cases concerning seizure? I think I’ll give that professor a call have to consider what it would mean to the his experiences growing up in Southern Cali- attempts by various United States officials and and give him a piece of my mind!” He didn’t, clients I represented. fornia, clerking for White and how he built his citizens to bring former Nazi war criminals to of course. That was just his way. own cabin retreat in a remote part of the Sierra justice. A couple of trials came up to us on You mentioned that former Loyola Law Nevada Mountains. appeal, including the case of John Demjanjuk Did you ever see White outside the court- School professor Daniel Leonard was one (a prison guard at the Treblinka and Sobibor house? of the most influential people in your life. Question: Did you ever think you would be concentration camps who was later deported to Oh, yes. He played basketball with all his clerks Why was that? the president of a Catholic university? Israel and sentenced to death). three times a week. He was notorious for his Daniel was diagnosed with late-stage cancer Answer: Religion and education run in the hook shot: His elbows would flop out and he near the end of my time as dean there and he DNA of my family. My father was a Presby- But when your year as a clerk ended, you broke several pairs of glasses that the clerks wore. passed away two years ago. The way that he terian minister who founded Covenant Presby- didn’t go right away to Gibson Dunn. approached what was really a death sentence, terian Church in Long Beach and also served No. Something came along that’s the dream of all Any memorable cases at Gibson Dunn? the way that he continued to teach and lead the as president of the Long Beach school board. clerks: the chance to work at the U.S. Supreme I successfully defended American Airlines in a faculty despite this was inspiring. My grandfather was the principal of Long Court. I had interviews with both the late Chief lawsuit that Continental Airlines and U.S. Air Beach Polytechnic High School for 41 years. Justice Warren Burger and Justice Byron White. brought over American’s computerized reserva- What was your biggest challenge as dean And my mother taught early childhood educa- And it was Justice White who chose me. I clerked tion system. That was a fascinating case. I got to tion in the Long Beach public schools. for him during the 1986-’87 court session. prepare (American President) Bob Crandall for Please see page 16 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page
MAY 2, 2011 LOS ANGELES BUSINESS JOURNAL 15 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 PEOPLE MAY 2, 2011
Continued from page 14 of business leaders outside the legal profession time, the only way to get in there is via snow- and of all the major players here in Los Angeles. David Burcham mobile or snowshoes. Cell phones don’t work; TITLE: President we have a satellite phone that works about 20 of the law school? You say you have a getaway cabin in the percent of the time. But it is paradise. The biggest challenge was raising the status of Sierras. How did that come about? ORGANIZATION: Loyola Marymount the law school. One of the ways we did that About 10 years ago, my wife and I were dri- University How often do you go up there? was to raise the academic profile of entering ving around in the Sierra Nevada Mountains, BORN: Hollywood; 1951 During the spring, summer and fall, as often as classes by being more selective. I also looking for a piece of land to buy. We both we can. We try to get up there at least once a increased the fundraising. love the outdoors and we wanted some place EDUCATION: B.A., political science, month on the weekends – it’s a four-and-a-half- that we could call a retreat. In the middle of Occidental College; M.A., education hour drive, so we can get there pretty quickly LMU is a Catholic school, but you’re not nowhere, we saw a Coldwell Banker sign. administration, California State University considering where it is. Obviously now, with Catholic. How does that work? We at first thought it was a joke. But we Long Beach; J.D., Loyola Law School my duties as president, I’m not going to get up People have shown faith in me, so I’m going called the number on the sign and sure CAREER TURNING POINTS: Taking break there as much as I would like. In the summer, to show that I’m devoted to making sure that enough, there was some land for sale. It’s from teaching to attend law school; we spend maybe a week or 10 days up there. the Catholic Jesuit identity of the school near Shaver Lake northeast of Fresno and accepting offer to clerk at federal appeals remains strong, even if I’m a Presbyterian. it’s at about 5,500 feet. court; leaving Gibson Dunn & Crutcher to What do you do when you’re up there? That means making sure this identity resides teach at Loyola Law School. Besides maintaining the cabin and the grounds, in everybody, not just the president or the It must have been quite an effort to get we hike. I also cut firewood and do some wood- Jesuit priests. But it’s not just a Catholic the cabin built. What stood out for you MOST INFLUENTIAL PEOPLE: U.S. Third working, which is another hobby of mine. I’ve Jesuit identity; this university also has a spir- about that? Circuit Court of Appeals Judge Ruggero built a lot of the wood furnishings in the cabin. itual mission. People come here to get more The biggest thing was trying to find water. Aldisert and late U.S. Supreme Court Justice We also use the cabin for family gatherings. than a secular education, get their degrees Without a water source, you can’t even get a Byron White, both of whom he clerked for; and move on. They come to grow spiritually, permit to build. So we hired someone from a Loyola Law School professor David Leonard, You said woodworking is a hobby? too. Catering to both the intellectual and the professional firm to drill a well and see if it hit who recently died of cancer; his wife, Chris; Yes. My father did some woodworking while I spiritual components will be my main goal as water. He took his hydraulic drill bit and dug a father, a Presbyterian pastor and president of was growing up and when I was old enough, I president. hole 900 feet deep through some solid granite the Long Beach school board. found I loved doing it myself. Some day, I’d and it was completely dry. That was at $12.75 PERSONAL: Lives in Long Beach with wife like to build cabinets and things. What are your other goals as president? per foot. By this time, I was feeling pretty stu- of 37 years; has two grown children: a I need to raise a lot of money. This is now a pid and I asked the guy what I should do. He daughter who teaches high school and plays Do you sell any of your woodwork items? major issue confronting all private higher edu- said, “Have you ever considered a douser?” I trumpet, and a son who works at a private No. I have given away many items, though. As cation: how to make it affordable. The ability to said, “You don’t mean one of those guys with equity fund. I said, it’s a hobby, not something I really want just automatically raise tuition every year to a stick, do you?” And he said, “Yes.” to pursue as a business. cover rising costs is now at an end. The differ- ACTIVITIES: Spending time at self-built ence has to come through donations. We’re So then what happened? cabin in Sierra Nevada Mountains; How did you meet your wife? going to have to raise several hundred million After he left, I called around and reached this fly-fishing, hiking, woodworking. I met Chris when we were both at Occidental dollars over the next 10 years. And to do that, guy who was a retired forest ranger. He said he College; I was a sophomore and she was a fresh- we’re going to have to forge closer ties to the would be willing to do this for $100 in cash up man. I had a cheesy pickup line that I tried on business community. We can’t afford to be an front. I met him up there early on Saturday divining-rod technology works, but it didn’t her in the quad and it didn’t work. I saw her sub- ivory tower anymore. morning; he was 6’5” and looked like he was not work. sequently and asked her out and that worked. A about 300 pounds. He had two welding rods year after I graduated, we got married. With businesses cost-cutting so much with him: They looked like metallic sticks. He Any other challenges? these days, that sounds tough. just started walking around and he came back Well, the place is completely off the grid. We What’s the best piece of advice you’ve I don’t harbor the illusion that for-profit busi- 20 minutes later and said, “I found your spot.” have to generate our own electricity, which we received? nesses will open up their wallets with huge dona- He had put an X in red spray paint on the do through solar photovoltaic cells backed up I had a football coach who said, “Stay within tions. We have to engage more with the business ground. He came back the next week, drilled with propane fuel generators. It’s on 80 acres yourself.” That applies to all of us. It means community, to show businesses why we are a down and at 230 feet, he hit water flowing at of pristine forest. The last five miles into it are understanding who you are, understanding worthwhile investment. I’m making the rounds about 15 gallons a minute. I can’t say that on U.S. Forest Service dirt road. In the winter- your strengths and weaknesses. 6,109 3,503 2,027 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page 1,959 1,647 MAY 2, 2011 LOS ANGELES BUSINESS JOURNAL 17
X NEXT WEEK The 25 Largest Hospitals and L.A. COUNTY MEETING FACILITIES 10 Largest Health Insurers in THE LIST Ranked by square footage of largest room Los Angeles County
X EXECUTIVE SUMMARY X THE TRENDS X THE PACESETTER
HE 25 largest meeting facilities in Los HE Los Angeles Conven- Angeles County have more than 2.8 mil- Party Town tion Center tops the list T lion square feet of space for conventions, Where are the largest meeting and banquet spaces? T of the largest facilities in award shows, banquets, corporate events and Los Angeles County. The South other meetings. Downtown Hall of the Convention Center Facilities at 10 hotels have some of the largest is the largest meeting space, spaces in the county. They include Queen Mary Westside totaling 346,890 square feet. in Long Beach, which has a 45,000-square-foot South Bay Overall, the center has 867,000 exhibit hall, and the Sheraton Fairplex Hotel square feet of space. & Conference Center in Pomona, which has a San Fernando Valley The Convention Center is 33,400-square-foot exhibit hall. San Gabriel Valley owned and operated by the city There are four hotels with ballrooms larger of Los Angeles. It opened in Los Angeles Convention Center than 25,000 square feet. The Westin Bonaven- Hollywood 1971 with 210,685 square feet ture Hotel & Suites in downtown Los Angeles 012345 678 of exhibit space. There was a major addition completed in 1993, has the largest ballroom. It is followed by the adding 347,000 square feet. Kentia Hall’s 162,000 square feet was Ritz-Carlton/JW Marriott Los Angeles at L.A. added in 1997. Live, the Hyatt Regency Century Plaza and the Largest Spaces The Convention Center hosts hundreds of events annually. The Renaissance Hollywood Hotel. The largest facilities ranked by total meeting space square footage. largest show is the annual Los Angeles Auto Show, which attracts In addition to hotels and convention centers, Los Angeles Convention Center 1 million people in the course of a week. Other big events include the area has several unusual venues that book the Electronic Entertainment Expo, Ski Dazzle and the Los Angeles large parties and other gatherings. Studio back Long Beach Convention Center Boat Show. lots at Warner Bros. and L.A. Center Studios California Market Center Convention business has increased with the opening in 2010 of have large indoor spaces, as do hangars at Santa Pasadena Convention Center a 1,001-room anchor hotel built by developer AEG across the street Monica Municipal Airport. Museums such as at L.A. Live. Now, AEG has plans to further increase the conven- (in thousands) the Los Angeles County Museum of Art and Westin Bonaventure Hotel & Suites tion business for the area by adding a pro football stadium. The plan Petersen Automotive Museum also have large L.A. Live Event Deck calls for renovation of the aging West Hall and construction of a sta- spaces. Other event venues include Santa Anita Pacific Design Center dium on the site that would give the Convention Center more than 1 Park, which has a 23,600-square-foot room. million square feet of contiguous space. The city is in negotiations Overall, the 25 largest meeting spaces are Ritz-Carlton/JW Marriott Los Angeles with AEG for its proposal. capable of hosting 94,000 people in reception Hyatt Regency Century Plaza – David Nusbaum settings and 52,000 people in standard banquet Santa Anita Park settings. – David Nusbaum 0 200 400 600 800 1,000 Source: Business Journal research
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18 LOS ANGELES BUSINESS JOURNAL THE LIST MAY 2, 2011
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X NEXT WEEK The 25 Largest Hospitals and HOTELS 10 Largest Health Insurers in THE LIST Ranked by number of guest rooms in L.A. County Los Angeles County
X EXECUTIVE SUMMARY X THE TRENDS X THE PACESETTER
HE 100 largest hotels in Los Ange- ESTIN Bonaventure Hotel les County have a total of 38,865 Some Vacancies & Suites tops the list of the T rooms, including 4,357 suites. That Hotel occupancy rates by month for L.A. County in 2010. W largest hotels in Los Ange- represents more than 42 percent of the les County with 1,354 rooms, includ- 92,000 hotel rooms in the entire county. 80% ing 135 suites. Hotel occupancy rate increased from The hotel has a total of 110,000 2009 to 2010 as the Los Angeles hospital- 75 square feet of meeting and banquet ity industry bounced back from a tough space spread across 30 ballrooms. It has 70 year in 2009. The occupancy rate was 68 the largest ballroom in the city; its Cali- percent last year, up 4 percent from the 65 fornia Ballroom is 26,108 square feet. prior year. Hotel occupancy peaked during The Bonaventure is nearing com- the summer months and reached 77 per- 60 pletion of a $35 million renovation cent for the month of July. 55 project. The 900-room Wilshire Grand Hotel “It’s top to bottom renovation,” said 50 Larry McCue, director of sales and received approvals in March from the Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. L.A. City Council for redevelopment. marketing. “It includes all guest rooms Westin Bonaventure Owner Korean Air and developer Thomas and suites and other indoor spaces.” Properties have plans for a $1.2 billion In rooms, carpeting and furniture has been replaced and flat screen project that will include a 45-story hotel Overnight Costs televisions have been added. Meeting spaces, the lobby, restaurants, bars tower with residential units and a 65-story Average daily room rates by month for L.A. County hotels in 2011. and other indoor areas of the hotel have also been upgraded. office tower. The hotel is located down- The Bonaventure caters to travelers drawn to events at the L.A. Con- town at Seventh and Figueroa streets. $125 vention Center, businesspeople and tour groups. More Asian tour groups The average daily rate listed is an are choosing to stay downtown rather than areas closer to the beach or industry measure of the average rate 120 Hollywood, and that’s added to the hotel’s numbers. paid to the hotel for occupied rooms. It “We’re large enough to be able to appeal to all types of traveler,” includes discounts for conventions, groups 115 McCue said. and rooms sold through discounted web- The Bonaventure was opened in 1976. It’s composed of five cylindrical sites. The rate fluctuates seasonally, but 110 mirrored-glass towers that take up a city block in downtown Los Angeles. the entire county had an average daily The hotel has a seven-level atrium lobby and 18 shops and restaurants are rate of $116 last year, according to data 105 on the property. It has downtown’s only revolving cocktail lounge on its 34th floor. provided by L.A. Inc. That rate was up 1.4 100 percent compared with 2009. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. The hotel buildings have been featured in more than 30 movies, includ- – David Nusbaum ing “In the Line of Fire,” “True Lies,” and “Mission: Impossible III” and Source: Smith Travel Research many television shows. – David Nusbaum
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20 LOS ANGELES BUSINESS JOURNAL THE LIST MAY 2, 2011
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LOS ANGELES BUSINESS JOURNAL Coming May 16 Your opportunity to participate in a Los Angeles Business Journal Signature Issue Space Reservation Deadline: May 5, 2011 For more information, contact your local sales representative at 323.549.5225 Wealthiest Angelenos ...and more 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page Los Angeles Business Journal • May 2, 2011 • SPECIAL REPORT in 20their Tw e n t i e s PROFILES: Samira Asemanfar Chris K. Achar Margo Siegel Nick Jacobs J Wolf Alle Fister Alex Tao Jeff Okita Erica Tucker Max Baumann Whitney Port Garner Gerson Casey Hunt Reza Rasoli Greg Gunn Omid Semino Mahyar Asher RINGO H.W. CHIU/LABJ Eghbali ARNER Gerson started a company called Full-A-Bull when he was a teen: He rented mechanical bulls for Tim Kim parties. Every weekend, his friends would deliver the gyrating devices to shindigs from San Diego to Santa Barbara. He used his Full-A-Bull money to open a restaurant when he was 22. Six years later, Raymond J. he owns Basement Tavern bar, above, and Malibu Café. He enjoys running his own show, but also Zolekhian likes to work with family members on other projects, as you’ll see on Page 29. An unusual story? No, Robin Hanasab Gerson is just one of 20 in the Business Journal’s annual roundup of Angelenos still in their 20s who Glaunched and run their own business, and they’re not Full-A-Bull. ➼ 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page 26 LOS ANGELES BUSINESS JOURNAL MAY 2, 2011 20 in their Twenties HEN he was 12, Chris Achar’s favorite after-school hangout Wwas Semler Research Center, a pharmaceutical services business owned by his father. Today, at 26, he owns Genesis Life ‘The wine Sciences, a pharmaceutical development business has company, and Divya Wines. He thanks his dad for getting him interested in the helped me start drug business, even though he can’t say conversations exactly why it clicked. with people who I wouldn’t Chris K. Achar, 26 Genesis Life Sciences and Divya Wines, get to speak Los Angeles with otherwise.’ EMPLOYEES: About a dozen. FINANCIALS: $1 million in seed funding from RP Capital in Los Angeles. The six drugs that the company is developing have brought in about $10 million in revenue ‘I have learned to from interested pharmaceutical companies. remind myself right “My father made a conscious effort to before meeting with an involve me,” Achar said. “I remember sit- older employee to ... ting in on his meetings at age 12, not a clue about what was going on. But some- remember that we are thing must have worked.” both human.’ Achar got the idea for his own pharma- ceutical development company, Genesis, while working for his father as an under- What led you to start your own company? graduate at California State University, After graduating from the Marshall School of Northridge. He was majoring in business Business at USC in 2004, I joined KPMG. I real- and marketing when he talked with his ized that corporate America did not satisfy my father’s clients and found that many of drive, so I took a risk and walked away. Bel- them wanted to develop generic drugs, but lacures opened its doors February 2006. lacked resources. So he designed Genesis to provide startups with capital and infra- Where did you get the startup money? structure in exchange for future revenue. From my parents and several credit cards. Genesis is developing six generic drugs, Capital LLC. But Achar said he might also cuisine. The company also sponsored this with a focus on ophthalmic and dermato- find some other well-heeled investors month’s Indian Film Festival of Los Angeles. What was the most important lesson you learned? logical products. By manufacturing and through his second business, Divya Wines. But Achar, who recently completed his How to appreciate and value any achievement developing in India, Achar hopes to keep “The wine business has helped me start M.B.A. at Pepperdine, said that his busi- along the path. Sometimes the benchmarks you prices low for the day he is able to sell the conversations with people who I wouldn’t nesses have another correlation beyond reach allow you to adjust your end goal, and the products to pharmaceutical companies. get to speak with otherwise,” he said. networking. A favorite saying: beauty is seeing your business grow in ways you Genesis was able to secure initial seed Divya is marketed toward the growing “Make money in the sciences and never imagined funding from local entrepreneur Nimish Indian wine-drinking community; Achar spend it in the wines.” that are often bet- Patel, co-founder of investment fund RP pitches the wine as a good match for Indian – Jonathan Polakoff Samira ter than your origi- Asemanfar, 28 nal vision. Bellacures Franchising LLC, Beverly Hills, nail Does your youth salon franchise; Bellacures lead to awkward Corp., Beverly Hills and situations, such What led you to start your own company? It’s up to me to make sure everything works. Brentwood nail salons as when you I wanted to have a specific niche, so I supervise older decided to focus on jewelry – something I EMPLOYEES: 31, How many hours a day do you put in? workers? have always been passionate about. Plus, I Bellacures Corp. Twenty-four! Fourteen of them are at a com- Absolutely! Some- figured I was young enough to take a risk puter screen, but the rest of the time I’m FINANCIALS: $1 million times putting your on myself. thinking about work or talking about work. in revenue in 2010 for foot down with Bellacures Corp. someone who is Where did you get the startup money? Does your youth lead to awkward situations, double your age I had some money saved such as when you super- can be awkward. I have learned to remind myself from previous work, but vise older workers? right before meeting with an older employee to there really wasn’t much Margo Siegel, 26 No, it’s better than forget about our differences in age and remem- cost to starting up. I supervising toddlers. Margo Siegel Public Relations, ber that we are both human. essentially started the Beverly Hills, a PR firm for jewelry business the day I signed Will you start another and accessories companies Will you start another company? my first client. So I used company? Yes. I would love to start several businesses that money to operate, EMPLOYEES: 3 Not likely. One is plenty. throughout the rest of my life. and the more clients I FINANCIALS: Profitable. signed, the more I What do you do to Could you ever work for someone else? expanded the operation. relax? Working for someone else is like being used to You’d think I’d do something that isn’t work cable Internet and changing to dial-up. It is sim- What was the biggest challenge? related. But my first client, Melinda Maria, ply out of the question. All of the responsibility rests solely on your just had a baby. I have a tendency to drop shoulders. There’s no excuse for sick days what I’m doing and hang out with them What do you do to relax? or delegating stressful situations to others. when I need a break. Every now and then I will pick up a new activity, whether it be getting heavily into yoga or skydiv- ing. It is while I engage in these activities that I feel truly free from my subconscious, because ‘There’s no excuse for sick days or delegating when you are jumping out of a plane 13,000 feet stressful situations to others. It’s up to me to above ground worrying about staff issues is the furthest thing from your mind. make sure everything works.’ RINGO H.W. CHIU/LABJ 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page MAY 2, 2011 LOS ANGELES BUSINESS JOURNAL 27 What led you to start What led you to start your own company? Nick Jacobs, 26 your own company? Jacobs: At 16, I devel- J Wolf, 28 Wolf: In September oped a small business Glendon Bar & Kitchen, Westwood Village 2009, I realized I just that booked local musi- built and formed a bar EMPLOYEES: 46 cians at Hollywood and restaurant from venues. I became really FINANCIALS: $1.8 million in 12-month scratch for someone interested in the hospi- revenue through April. else. If I was ever tality side of live enter- going to stabilize tainment. I traded in a financially and make suit for a chef’s hat and a set of knives. I real- something of myself, I knew I needed to do it ized that taking a culinary approach to hospital- on my own and not work for someone else. ity was the best approach toward achieving my Once I made my mind up, I moved quickly. We ultimate goal of owning and operating a hospi- opened Glendon Bar & Kitchen in April 2010. tality-based business. Where did you get the startup money? Where did you get the startup money? Very skeptical – but supportive – friends and I was fortunate enough to find financial support family. in my close friends and family. What was the biggest challenge? What was the biggest challenge? We opened undercapitalized and because of My greatest challenge has been, and will con- that, the first couple of months were a real tinue to be, maintaining a consistent product challenge. Fortunately for us, it didn’t take long while juggling the needs of a rather large staff. for people to recognize that we existed. The business took a big jump and has allowed us What was the most important lesson you to have more breathing room. learned? There are a lot of reasons why the restaurant What was the most important lesson you shouldn’t have worked. This was our first busi- learned? ness, we had not worked together before and we Business is business; don’t let emotions get opened in an extremely tough economy. I’d say involved. the most important lesson I’ve learned is to not be afraid to take risks and trust your instincts. How many hours a day do you put in? Twelve to 18 hours. How many hours a day do you put in? Twelve to 17; but time flies when you are hav- Will you start another company? ing fun. I can’t wait to start something else. Could you ever work for someone else? Could you ever work for someone else? If he or she lives in another country and we Not a chance. only have to speak once a week, I’ll consider it. What do you do to relax? What do you do to relax? I like to take long drives on Pacific Coast High- A Manhattan usually does the job. way in Malibu and just listen to music. ‘I’d say the most ‘If I was ever going to important lesson I’ve stabilize financially and learned is to not be make something of afraid to take risks myself, I knew I needed and trust your instincts.’ to do it on my own.’ NICK JACOBS J WOLF ‘The business is completely bootstrapped. We grow through success, results and client wins.’ Where did you get the startup money? Alle Fister, 29 Bollare was started in my little apartment on Reeves Drive. We did not have any funding; the business is Bollare, West Hollywood and New York, completely bootstrapped. We grow through suc- a PR company cess, results and client wins. EMPLOYEES: 16 FINANCIALS: Bollare has experienced steady What was the most important lesson you learned? economic, client roster and team member To ask for help! I have an amazing network of advis- growth over its six years in business. ers, friends and family, who are some of the most successful and smart people in their respective fields. What led you to start your own company? What do you do to relax? I was one of the initial employees at women’s I am a workout junkie. I really enjoy running and online retailer www.shopbop.com, heading their PR yoga. Escaping to Equinox or Physique 57 is a luxu- and spokesperson work. Six years ago, Amazon ry I cannot give up. Additionally, spending time with acquired Shopbop, and in this transition I formed my fiancé, Don. We enjoy heading out to the beach, Bollare – which means “to brand” in Italian – with seeing live music and travel. Shopbop as our first client. ➼ 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page 28 LOS ANGELES BUSINESS JOURNAL MAY 2, 2011 20 in their Twenties What led you to start your own What led you to start your own company? company? After graduating from the University of Texas with a bachelor’s in Alex Tao, 24 Tao: Ever since I was I young, fine arts, I moved to Los Angeles to pursue a career in acting. After Jeff Okita, 24 I’ve always tried to do things dif- two years of working in the industry, I realized that my true passion Six Taste, Los Angeles, a ferently, in almost stubborn was for creative baking. With encouragement from friends, family company that organizes fashion. This resulted in learning and many satisfied sweet-tooths, I created Sweet E’s. restaurant tours of a lot of things the hard way neighborhoods when I could have just accepted Where did you get the startup money? conventional wisdom. I eventu- We opted to use our family savings. EMPLOYEES: 16 ally developed my own analytical FINANCIALS: $240,000 in and improvement process for What was the biggest challenge? revenue for 2010. everything I dealt with growing Once we made the move from an online business to a storefront, up. This was particularly useful truck and custom orders, the biggest challenge was implementing in anything competitive I did, the proper logistics so that such as sports and especially video games. This type of free think- all aspects of the business ing and on-the-fly adjustment is generally not encouraged in typi- Erica Tucker, 27 worked in conjunction with cal job settings that seem to stifle such creativity. It seemed only each other. Sweet E’s Bake Shop, natural for me to start work as an entrepreneur where I would Los Angeles have the most freedom. What was the most impor- EMPLOYEES: 20 tant lesson you learned? How many hours a day do you put in? FINANCIALS: “The business is From this experience, I Honestly, I have no idea because we don’t keep track. Some days making about $45,000 per learned that when it comes I’ll work only a few hours; others I’ll work the entire day. I’ll go month and steadily increasing. to customer service, the with the answer: however many hours it takes. The projected annual revenue answer is always yes. No for 2011 is $650,000. With matter what the customer is Does your youth lead to our recent expansions and asking for, I find a way to awkward situations, such ventures, our costs have gone make it happen. ‘Some days I’ll as when you supervise up. So as for now, we are able work only a few older workers? to cover our expenses.” How many hours a day do hours; others Luckily, our company is com- you put in? ‘Working with posed of a relatively young I am in the bake shop about people who are I’ll work the generation. So when it comes 10 hours a day, six days a week. However, my phone and my laptop entire day ... to our staff, awkward situations are always with me. My employees know that I am always available. older and have due to age difference are not more business however many that common. When dealing Does your youth lead to awkward situations, such as when you hours it takes.’ with restaurants, though, it supervise older workers? experience does feel a bit strange on occa- At a first meeting I often feel underestimated due to my age. After a What led you to start your keeps me on ALEX TAO sion but not uncomfortable. few minutes of discussion, it is clear that I am a very hard-working own company? professional and my experience far surpasses their expectations. A few years ago, I was travel- my toes.’ ing through an airport on a Will you start another company? surf trip, following a series of flight cancellations. The stress all As crazy as it sounds, I have my next idea. I’m already working on around was palpable. I realized people needed to find a healthy the concept of a restaurant with a small savory menu and outra- way to fight stress instead of letting it consume them. I decided to geous decadent desserts. create an all-natural functional beverage to help people take the edge off while keeping them attentive and focused. I did some What do you do to relax? research and discovered L-theanine, the main active ingredient in Yoga. It is the one time that I ‘No matter what Just Chill. will ever turn off my phone and clear my mind. the customer is Where did you get the startup money? asking for, I find The team and I pooled together our resources and found a couple of good angel investors. Now, we have a few different VC’s on the a way to make line for the big capital raise planned for 2012. it happen.’ What was the biggest challenge? ‘Sometimes I’ll The biggest challenge for me has been lack of formal business go into a meet- experience. That’s why I need to constantly edu- What was the most impor- ing and I get Max Baumann, 22 cate myself, read books, tant lesson you learned? mistaken for Just Chill, Culver City, attend forums and net- Okita: I learned that long-term a beverage company work to stay sharp. forecasts in a rapidly growing an intern or an EMPLOYEES: 15 (5 full time and business can be extremely entry level about 10 contract) Does your youth lead to inaccurate. The conditions of FINANCIALS: 2010 revenue of awkward situations, such your business change so employee in $300,000. as when you supervise often that a projection more my company.’ older workers? than three months into the JEFF OKITA Definitely. Working with people who are older and have more busi- future is not much more accu- ness experience keeps me on my toes. If I push back and take a rate than a shot in the dark. divergent stance on an issue, I better be able to back it up. Does your youth lead to awkward situations, such as when you Will you start another company? supervise older workers? I’ve got a full plate right now. It’s hard to look ahead to anything I’m always the youngest person at networking events or meetings. else. The next project would have to be something I’m passionate Sometimes I’ll go into a meeting and I get mistaken for an intern about. Starting a company is a big mission. You need something or an entry level employee in my company. I’m also often underes- you feel good about to wake you up early and keep you going. timated, but I see that as an advantage. Could you ever work for someone else? Will you start another company? Yes, if I truly loved what I was doing and believed in the company. Absolutely. Six Taste has been a perfect playground for entrepre- neurship, and I have learned a lot of lessons. I am excited at the What do you do to relax? prospect of starting a diverse set of businesses and experimenting I go surfing and crack jokes with friends. The beach and warm with different business models. weather always put a smile on my face. It’s part of who I am. What do you do to relax? I love stories, so I read and watch movies. I also like to have long conversations over coffee about how we can change the world. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page MAY 2, 2011 LOS ANGELES BUSINESS JOURNAL 29 RINGO H.W. CHIU/LABJ ‘I was unsure of the success of the operation. But it was empowering because I could invest in the company myself.’ HEN Whitney Port launched her L.A.’s Fashion District. She rejoined her and have full creative and business control.” clothing line, Whitney Eve, she Whitney Port, 26 brother and father, who had participated in She recently designed a fall 2011 line for W had more to worry about than the the venture long distance. Swedish fashion company Bikbok and is Whitney Eve, Los Angeles, average designer. That’s because her first Port, who had gained some measure of now working on her Whitney Eve collection a clothing company day of business was broadcast to millions on fame for her role as one of the more for spring 2012. the MTV show “The City,” a two-season EMPLOYEES: Her father, Jeff Port, and reserved and intelligent characters on “The Port, whose college major was gender spinoff of “The Hills” that centered on her brother, Ryan. Hills,” always knew she wanted to pursue a studies rather than business or fashion design, adventures as a budding entrepreneur. FINANCIALS: Profitable. career in fashion. But it wasn’t until she has been learning the industry on the fly. One But the television show, set in New York, assisted famous designers like Diane Von of her lessons was to design what sells. was also the perfect platform to launch the Furstenberg, and dabbled in editorial and PR “I like to push the boundaries. At the business. It gave her clothing line instant the success of the operation,” she said. “But jobs that she realized she wanted to launch beginning I thought people wanted that,” she name recognition and exposed it to girls in it was empowering because I could invest in her own line. That was in 2008. said. “Now I realize the more basic the prod- the MTV demographic. Port also used her the company myself.” “As surreal as it is, I have those experi- uct, the more people can accept it. But I still income from the show as startup capital. After the show was cancelled, Port ences under my belt,” she said. “At this point, make the pieces that I believe in the most.” “It was scary, because I was unsure of moved her business from New York to I feel like I only ever want to be my own boss – Jonathan Polakoff Where did you get the start up money? teams at each location are extremely My newest projects, Basement Tavern Garner Gerson, 28 self-sufficient and they know that they and Malibu Café, were built with rev- Basement Tavern bar in Santa are going to see me every day if there is enue raised from earlier restaurants and Monica and Malibu Café at anything they get stuck on, or have a other ventures. I started my first restau- Calamigos Ranch in Malibu question about. As my dad says: orga- rant when I was 22 with money from a nize, deputize, supervise. Employees: 100 company called Full-A-Bull. It was a mechanical bull rental company that I Financials: 2010 revenue for the two Could you ever work for someone else? started when I got my driver’s license. I businesses was about $6 million. I don’t think I could work for anybody got a mechanical bull from a junkyard else. I think I am a little too specific on and completely rebuilt and redesigned from people you don’t want to emulate. what I want, and there isn’t a lot of it. I eventually got to 10 bulls, and room for input. But I work with my fam- would rent them out every weekend to How many hours a day do you put in? ily on Calamigos Ranch; the Victorian; parties around California for about I work 24 hours a day, and I don’t work Candlelight Kitchen & Bar in Simi Valley; $2,000 a night. I ended up having all my at all. The best route between the two and Sjobeck Malibu, a clothing line my friends running around to different par- restaurant-bars is the coast between brother runs. ties from Santa Barbara to San Diego. Malibu and Santa Monica. So my office is really my car, and my office is on the What was the most important lesson beach. I drive about 200 miles a day, you learned? but I end up sneaking away at least an ‘Sometimes you learn the I believe you always need to be open to hour a day to surf; but you can’t tell ➼ learning, and sometimes you learn the most anybody! I call them “meetings.” The RINGO H.W. CHIU/LABJ most from people you don’t want to emulate.’ 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 MAY 2, 2011 20 in their Twenties What was the biggest challenge? Where did you get the startup money? Semino: The beverage industry is mas- Eghbali: Omid and I put down some sive. You are competing against global saved-up money that we had, then we brands such as Coca-Cola and Pepsi with got a small-business loan and the rest billions of dollars in capital. The biggest came from investors. challenge was to put doubt away and remember that nothing is impossible. What was the biggest challenge? Persistence. It’s getting back up with What was the most important lesson confidence and motivation after you get you learned? knocked to the floor a hundred times. I learned to be purposeful, be patient and be active. That is the secret formu- What was the most important lesson la to every achievement. you learned? You have James Dean got this one to set up fences, dead- right, “Dream as if you’ll Omid lines and detailed expec- live forever, live as if tations. You have to cre- Semino, 24 you’ll die today.” ate a balance between Mahyar creativity and reality. How many hours a day Asher do you put in? Eghbali, 25 Will you start another When you have fun company? Dejant Group Corp. doing it, it is not work Definitely. I am currently (Cloud 9), Los Angeles, anymore. It is a lifestyle. a pharmacy student at a beverage company I don’t count the hours! USC and my next busi- Although, speaking of EMPLOYEES: 7 ness adventure will be in physical hours put in, FINANCIALS: Project- the health care field. I some days I put in 15 ing $1.2 million in have already started and some days zero. 2011 revenue some of the background work in terms of open- ‘There was a span ‘It’s sometimes a ‘I would like to Does your youth lead to ing a futuristic pharma- of time when we challenge to let keep Three Legged awkward situations, such as when cy, a place where people come to you supervise older workers? based on individualized medication, were digging go a little bit and Legs alive and In fact, it does. When I direct someone where patients’ genes and environmen- for scraps.’ do as we are told.’ kicking for a while.’ who is 10 or 20 years older than me, tal factors are taken into account. with more experience than I have in CASEY HUNT REZA RASOLI GREG GUNN many areas, it can get intimidating. What do you do to relax? Get in touch However, I have learned to admire their with my spirituality. It’s not until the wisdom and glean from it; and if I have carpet gets swept out from under your What was the biggest challenge? Where did you get the startup money? What led you to start your own company? to stand my ground, I do it with respect. feet and you fall hard to the ground Hunt: We had just come off a really fan- Rasoli: An initial investment was made Gunn: It was really a happy accident. that you realize your problems don’t tastic job in mid-2008 when the reces- by the fine folks at Greendot Films. Three The three of us were working together a What do you do to relax? mean anything. You learn to appreciate sion hit. We felt it a little bit later then work stations, three bad-ass chairs, a lot at Otis College of Art and Design for I appreciate, I dream, I visualize and I everything, and I mean everything. everyone else, but eventually work white board and we were off to the races. our junior and senior years, making listen to music. became really scarce. Three Legged Legs shorts and experimenting. We submit- basically has no overhead, so we were What was the biggest challenge? ted a couple of pieces to a film festival able to stay alive. But there was a span of We love what we do. Sometimes we and received a phone call from Green- ‘When you have ‘You have to time where we were digging for scraps. love it too much and we get way too dot Films, a commercial production attached to our ideas. At the end of the company that books directors for com- fun doing it, it is create a balance How many hours a day do you put in? day, we are working for clients who are mercials, shortly thereafter. not work anymore. between creativity We used to work a standard 10-hour paying us to make cool work, it’s some- day from 10-ish to 8-ish. Recently, times a challenge to let go a little bit and What was the biggest challenge? It is a lifestyle.’ and reality.’ do as we are told. It is tough out there, especially for a OMID SEMINO MAHYAR ASHER EGHBALI ministudio of three. We operate on a very Casey Hunt, 27 What was the most important lesson small scale by comparison, so we were Reza Rasoli, 28 you learned? able to tread water during those rough Never sit idle. patches. Granted, it’s very discouraging Greg Gunn, 29 to lose seven job pitches in a row. Three Legged Legs, Santa Monica, How many hours a day do you put in? a trio of television and Internet Nine hours on average. All-nighters were What was the most important lesson commercial directors common in our earlier years, but they you learned? EMPLOYEES: Three co-founders are becoming rare as time goes on. Be creatively proactive. If you have down time, enjoy it for a second and FINANCIALS: 2010 revenue of Does your youth lead to awkward situ- then get hustling again, which is more $150,000. ations, such as when you supervise valuable: two months worth of person- older workers? ally generated new work or your kill we’ve pulled that back to a 9-er, still Not that I know of. But I’m sure if I was ratio on “Call of Duty”? starting at 10-ish. But when the going being told what to do by a clone of gets rough, we’ve put in much longer myself, I’d have a little voice in the back Will you start another company? hours. Twelve- to 14-hour days are not of my head saying, “This eff-ing kid. ...” I hope not. I would like to keep Three uncommon. We’ve even worked non- Legged Legs alive and kicking for a while. stop weekend marathons Friday Will you start another company? through Monday without leaving the Possibly, but unlikely. Could you ever work for someone else? office. We don’t plan on doing that Under the right circumstances and cre- much more these days. Could you ever work for someone else? ative umbrella, perhaps. It would be Yes, but I would reserve the right not to tough to give up the way we like to work Does your youth lead to awkward situ- if I could. after developing it for five years, but ations, such as when you supervise maybe, just maybe, it could happen. older workers? What do you do to relax? You’d think, but it hasn’t really been an Going to stand-up comedy shows are a What do you do to relax? issue. Generally, we try to think and act great way to loosen up and take a I like to exercise and cook at least one as though everyone is working with us, moment to laugh out loud. Picking up delicious, challenging meal a week as opposed to for us. We have a very the bass guitar and jamming with my from scratch. Cooking is cathartic and a casual, very open dialogue with all the ex-band mates is always fun, too. great time spent away from the com- people on our teams. There’s a huge However, when I have traveled, it’s puter. To keep my creative juices flow- amount of mutual respect, as we are probably been the most relaxed I’ve ing, there are a couple of personal and always working with extremely talented ever been. A guilt-free disconnection collaborative projects outside of adver- artists who are way better than us. from home does wonders. tising that I really enjoy working on. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page MAY 2, 2011 LOS ANGELES BUSINESS JOURNAL 31 IM Kim’s father is a construction raised $120,000 last year. worker who always loved to invent But getting the business up and running Tthings. Unfortunately, he never fol- wasn’t easy. It took longer than expected for lowed through with his brainstorms. Kim to get a factory in China to turn out the While Kim was studying at Pepperdine’s first batch of sockets. So, when it came time Graziadio School of Management, he saw to market the socket with infomercials dur- that his family was having some financial ing holiday season, the product wasn’t ready difficulty. So he decided to help out by and the marketing campaign had to be post- using his new skills to manufacture and sell poned. He then faced the difficult task of his father’s inventions, starting with an informing his investors of the setback. adjustable socket tool that fits bolts of vari- “I had to break the hard news to the very ous types and sizes. people who believed in me,” he said. “I felt like I’d failed them. Thankfully, they took it well.” The socket finally hit the market in Tim Kim, 29 March. TrustyMax Tools, Chatsworth, a tool com- Kim said he learned an important lesson pany that makes the Go-2 Socket, which from this experience. fits bolts of different shapes and sizes “Everyone wants to be good, fast and EMPLOYEES: Outsources logistics, market- cheap when it comes to making products. ing, advertising, sales and manufacturing. But you must pick two, because you can’t FINANCIALS: Raised $120,000 have all three, especially when you’re manu- facturing a new product overseas,” he said. Kim said he may decide to launch anoth- “I walked into my dad’s home office and er company. If so, it would probably be on a said, ‘Hey, dad, you know that socket patent smaller scale than TrustyMax. Kim wants you have? I’m going to take it to market.’” more time for family, especially as his son ‘Everyone wants to be So Kim set aside his goal of becoming a grows up. good, fast and cheap music industry executive and instead drew “I think my son is going to be good at the music,” he said. up a business plan that he entered into a sports and I want to make sure I can go to all As for his youth, Kim said it has proved when it comes to making Pepperdine competition last year. He won his games,” he said. a blessing so far. products. But you must the top prize of $15,000, which he used as He also wants to make sure he has enough “I have been overwhelmed with the kind- seed money to launch TrustyMax Tools. time for one of his more relaxing hobbies: ness of seasoned industry veterans who have pick two, because you News of his competition victory spread playing drums with his church band. been more than happy to mentor a youngster can’t have all three.’ among his friends and relatives, some of “It forces my mind to relax since I can’t like me,” he said. TIM KIM whom put their money into the venture. He focus on anything else and stay in sync with – Howard Fine What led you to start your own company? Raymond J. Zolekhian, 29 ‘It has been a challenge Hanasab: When the commercial real estate mar- Robin Hanasab, 29 ket halted in 2008, I wanted to create a recession- balancing my time. But proof company. At that time, Ray had just left Hanasab & Zolekhian LLP, I’m not complaining.’ Skadden Arps and I saw an opportunity for us to Los Angeles, a law firm ROBIN HANASAB combine our varying yet extremely complemen- EMPLOYEES: 2 tary skill sets to do something special. FINANCIALS: 2010 revenue of $750,000. What was the biggest challenge? The biggest challenge has been and continues to What led you to start your own company? be time management. I am still extremely active Zolekhian: I enjoy the entrepreneurial aspect of the in real estate acquisition and management, so it practice of law. Whether it be business development has been a challenge balancing my time. But I’m or the autonomy to pursue interesting and challeng- not complaining. ing cases, having your own practice provides you with the freedom to do all of these things. How many hours a day do you put in? Depends what you consider “on the clock.” I’m in Where did you get the startup money? the office about nine hours a day, but glued to my My partner and I both tapped into our savings. phone at all other times. What was the biggest challenge? Will you start another company? Believing in my own abilities was a big challenge, As an entrepreneur, I am always open to new coming from an environment where you have ‘Our more entrepreneurial business ideas and have them presented to us senior attorneys constantly supervising your work. every so often. We have recently decided to form When I first began representing personal injury clients ... sometimes a real estate management and investment com- clients, I would oftentimes defer to more experi- see a little bit of pany to provide a service to our clients and col- enced colleagues in the field as to whether or not leagues who have been asking us to give them to take a particular case. That changed when I was themselves in us.’ access to real estate opportunities that we have approached by a client with a significant injury. RAYMOND J. ZOLEKHIAN the expertise to identify, acquire and manage. Several attorneys advised me to pass on the case because there appeared to be no liability on the RINGO H.W. CHIU/LABJ What do you do to relax? part of the defendant. I decided to take the case amounts to about nine hours a day. selves in us and want to provide opportunities for When I’m not watching the Lakers, I’m playing and after extensive research I was able to obtain a young entrepreneurs to succeed. basketball myself, or spending time with my fam- six-figure settlement for my client. Does your youth lead to awkward situations? ily and friends. From my experience, youth is a double-edged Could you ever work for someone else? How many hours a day do you put in? sword. There have been times where I have spo- I’ll never say never, but at this time I can’t imag- When you have your own practice, the line ken to a potential client over the phone only for ine doing anything else. becomes somewhat blurry as to when the workday them to be surprised by my youth when they begins and ends. I often spend my downtime meet me in person. More often than not, howev- What do you do to relax? thinking of new marketing strategies, attending er, clients like the energy and the hunger that we I’m a lifelong Lakers fan, and enjoy going to con- Questionnaires were compiled by Howard Fine, seminars or networking events, or reading up on bring to the table. Our more entrepreneurial certs. More than anything, I love to spend time Greg Hernandez, Alexa Hyland, Natalie Jarvey, my field. As far as time spent in the office, that clients also sometimes see a little bit of them- with my family and friends. Jonathan Polakoff and Jacquelyn Ryan. 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 DATA BANK MAY 2, 2011 CONVENTIONS 900 W. Olympic Blvd., downtown CALENDAR Tuesday, May 10 $325 Networking Lunch (877) 998-8258 • Showbiz Expo Tuesday, May 3 Sponsor: Long Beach Area Chamber of Commerce May 7 11:30 a.m. Networking Mixer Jobs in the Local Area (212) 404-2345 McKenna’s on the Bay Sponsor: Santa Monica Chamber of Commerce Sponsor: Challenger Networking Group 190 Marina Drive, Long Beach 5:30 p.m. Noon $30 (RSVP required) Bubba Gump • International Glass Show Zen Buffet (562) 590-9234 301 Santa Monica Pier May 20-22 21610 Victory Blvd., Woodland Hills $25 (800) 449-9050 $11 lunch (310) 393-9825 (818) 992-4270 Wednesday, May 11 • Everything to Do With Sex Show All About Business Loans Thursday, May 19 Hugh Hefner Birthday Sponsor: VEDC May 20-22 Sponsor: Thalians 4 p.m. Strictly Business Luncheon (905) 738-7848 5 p.m. 5121 Van Nuys Blvd., Van Nuys Sponsor: Jewish Vocational Service 11 a.m. Playboy Mansion Free • American Diabetes Association Expo Attendees will park off-site and be (818) 907-9922 Beverly Hilton Hotel 9876 Wilshire Blvd., Beverly Hills May 21 driven to the mansion. $100 (800) 342-2383, ext. 7503 $1,000 Thursday, May 12 (323) 761-8888 (310) 423-1040 Foreclosure Workshop • Dwell on Design Sponsor: California Foreclosure Institute Business Luncheon June 25-26 Foreclosure Workshop 5:30 p.m. Sponsor: Sherman Oaks Chamber of Commerce www.DwellonDesign.com Sponsor: California Foreclosure Institute San Gabriel Library 11:45 a.m. 6 p.m. 500 S. Del Mar Ave., San Gabriel Café Bizou Pasadena Library Free 14016 Ventura Blvd., Sherman Oaks • Anime Expo 285 E. Walnut St. (310) 379-0101 $45 July 1-4 Free (818) 906-1951 www.Anime-Expo.org (310) 379-0101 Monday, May 16 Thirsty Thursday Wednesday, May 4 Sustainability Communications Sponsor: thinkLA • California Gift Show Sponsor: Public Relations Society of America, L.A. 6:30 p.m. July 22-25 Business Card Exchange chapter Busby’s East (800) 526-2784 Sponsor: Santa Fe Springs Chamber of Commerce 7:30 a.m. 5364 Wilshire Blvd., Miracle Mile 7:30 a.m. Fairmont Miramar Hotel Free Adultcon Vintage Cerritos 101 Wilshire Blvd., Santa Monica (310) 823-7320 • 11000 New Falcon Way, Cerritos $140 July 29-31 $25 (818) 582-3233 (310) 859-6900 (562) 944-1616 Saturday, May 21 Commercial Real Estate BrideWorld Expo Tuesday, May 17 Sponsor: Dynamics Capital Group • John C. Williams, July 30-31 Federal Reserve Bank of San Francisco Hiring Opportunities 7:45 a.m. Luxe Hotel (800) 600-7080 Sponsor: Town Hall Los Angeles Sponsor: Challenger Networking Group 14461 Sunset Blvd., Brentwood 11:30 a.m. Noon $249 Millennium Biltmore Hotel Zen Buffet • West Coast Expo (310) 471-0650 506 S. Grand Ave., downtown Los Angeles 21610 Victory Blvd., Woodland Hills Aug. 12-14 $11 lunch $67 (323) 905-1306 (818) 992-4270 (213) 628-8141 To be considered for publication, Calendar listings should be submitted at least three weeks in advance Wednesday, May 18 of the event. Listings can be submitted by e-mail to • Exxxotica Expo Networking Night Aug. 26-28 Sponsor: Beverly Hills Bar Association [email protected] or by mail to: IRS Symposium (215) 462-8800 6 p.m. Sponsor: American Society of Appraisers, L.A. Chap- Los Angeles Business Journal 300 S. Beverly Drive, Beverly Hills ter Calendar $75 7:15 a.m. 5700 Wilshire Blvd. #170 (310) 601-2422 JW Marriott Hotel Los Angeles Los Angeles, CA 90036 L.A. Convention Center, (213) 741-1151, ext. 5340 Lewis R. Landau Debts: N/A (Health club) File-Date: 03/18/11 BANKRUPTCIES 888-822-4340 Doc# LA11-22654-AA 8301 Beverly Blvd Lynne Romano File-Date: 03/24/11 L.A. 90048 626-552-0270 Theatre Club of Los Angeles LLC G.H. Development Corp. Stephen Michael Lopez Chapter: 7 (Business type N/A) (Single-asset real estate) 818-370-4555 Assets: N/A Countrywide Vending Inc. 940 S. Figueroa St. (1st of 6 rel filings) Debts: N/A DBA: Merchant Services Club; 1640 S. Sepulveda Blvd., Suite #430 L.A. 90015 Simi Valley Investment Co. LLC Doc# LA11-21710-VZ Eco Pure Water Coolers L.A. 90025 Chapter: 11 (Single-asset real estate) File-Date: 03/18/11 Chapter: 11 (Vending) Assets: $28,493,995 (5th of 6 filings) Leslie A. Cohen 5401 Amigo Ave. Debts: $8,088,782 Assets: N/A Debts: N/A 1640 S. Sepulveda Blvd., Suite #430 310-394-5900 Tarzana 91356 Doc# LA11-21918-BB L.A. 90025 Chapter: 7 File-Date: 03/21/11 Doc# LA11-22650-AA File-Date: 03/24/11 Chapter: 11 4947 Great Encino LLC Assets: N/A Aamir Raza Assets: N/A (Business type N/A) 818-649-7782 Stephen Michael Lopez Debts: N/A 818-370-4555 Debts: N/A 15720 Ventura Blvd., Suite #415 Doc# SV11-13424-MT Doc# LA11-22655-AA Encino 91436 Greater South Bay Area Home Health Inc. File-Date: 03/19/11 G.H. Real Estate Development LLC File-Date: 03/24/11 Chapter: 7 (Home care agency) Leslie A. Cohen (Single-asset real estate) Assets: $0 680 Knox St., Suite #125 Stephen Michael Lopez 310-394-5900 (2nd of 6 filings) Debts: $565,000 Torrance 90502 818-370-4555 1640 S. Sepulveda Blvd., Suite #430 Doc# SV11-13357-MT Clarendon Valley Properties Inc. Chapter: 11 L.A. 90025 Assets: N/A Cochran Investment Co. LLC File-Date: 03/18/11 (Investment) Chapter: 11 (Single-asset real estate) Pro-per. Debts: N/A Assets: N/A 741 W. 24th St. Doc# LA11-21933-RN (6th of 6 filings) San Pedro 90731 Debts: N/A Viewfield Hacienda Inc. File-Date: 03/21/11 1640 S. Sepulveda Blvd., Suite #430 Chapter: 7 Doc# LA11-22652-AA (Investment) Raymond H. Aver L.A. 90025 Assets: N/A File-Date: 03/24/11 18375 Ventura Blvd., Suite #423 310-473-3511 Stephen Michael Lopez Chapter: 11 Debts: N/A Tarzana 91356 818-370-4555 Assets: N/A Doc# LA11-21820-PC Chapter: 11 JKDM LLC Debts: N/A File-Date: 03/21/11 (Real estate) Assets: N/A Market Investment Co. LLC Doc# LA11-22658-AA Lynne Romano 269 S. Beverly Drive, #1175 Debts: N/A (Single-asset real estate) File-Date: 03/24/11 626-552-0270 Beverly Hills 90212 (3rd of 6 filings) Stephen Michael Lopez Doc# SV11-13365-MT Chapter: 11 1640 S. Sepulveda Blvd., Suite #430 818-370-4555 Assets: N/A L.A. 90025 Debts: N/A Chapter: 11 Nice Taco Inc. Bankruptcy information is supplied by Timely Info of Los Angeles, Jack Vaughn (323) 664-4423. Chapter 7: a “straight” liquidation bankruptcy involving an appointed trustee to sell all assets by Doc# LA11-22062-TD Assets: N/A (Business type N/A) File-Date: 03/22/11 auction or other means to pay creditors and trustee fees. Debts: N/A 8832 Durante Road Yevgeniya Lisitsa Chapter 11: a process which allows a business to gain temporary relief from paying debt in order to Doc# LA11-22653-AA San Gabriel 91775 323-857-5990 attempt a successful reorganization. The debtor remains in control of the business during the bank- File-Date: 03/24/11 Chapter: 7 ruptcy and the business continues to function. Stephen Michael Lopez Assets: N/A Dugout LLC 818-370-4555 Chapter 13: a bankruptcy plan available to individuals whose “income is sufficiently stable and reg- (Single-asset real estate) Debts: N/A ular to enable such individual to make payments under a plan.” The debtor makes payments to a trustee who disburses the funds to creditors. 4558 Sherman Oaks Ave., 2nd Floor RE: Investment Co. LLC Doc# LA11-21708-BR Sherman Oaks 91403 (Single-asset real estate) File-Date: 03/18/11 Involuntary bankruptcy: the debtor is forced into bankruptcy by secured creditors whose claims Chapter: 11 (4th of 6 filings) Jiyoung Kym total at least $220,000. Involuntary bankruptcy may be filed under Chapter 7 or 11. Assets: N/A 1640 S. Sepulveda Blvd., Suite #430 213-386-0800 AKA: also known as FKA: formerly known as Debts: N/A L.A. 90025 DBA: doing business as FAW: formerly associated with Doc# SV11-13520-MT Chapter: 11 Power State Fitness Inc. FDBA: formerly doing business as File-Date: 03/22/11 Assets: N/A DBA: Beverly Hills Health and Fitness 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page MAY 2, 2011 INVESTMENTS & FINANCE LOS ANGELES BUSINESS JOURNAL 33 ECONOWATCH L.A.COUNTY %± from GENERAL INDICATORS Latest Previous previous Year %± from period period period ago year ago Employment (000’s) (Mar.)1...... 4,261.9 4,286.4 -0.6% 4,274.4 -0.3% Unemployment (000’s) (Mar.)1 ...... 590.7 599.6 -1.5% 605.7 -2.5% Film Production Days (1st qtr.)2 ...... 11,604 11,712 -0.9% 11,087 +4.7% Doing Business Bankruptcies Chapter 7 (Feb.)...... 3,157 2,980 +5.9% 2,909 +8.5% Chapter 11 (Feb.) ...... 47 49 -4.1% 33 +42.4% in Asia-Pacifi c Trade3 Exports (mils.) (Feb.) ...... $9,169.1 $9,025.0 +1.6% $8,074.8 +13.6% Imports (mils.) (Feb.)...... $25,513.8 $26,591.0 -4.1% $17,113.1 +49.1% In recent decades, the Asian and Pacific Rim countries have emerged as Air cargo4 a powerful force in the global economy. The region’s economic growth LAX (Feb.)...... 135.5 145.1 -6.6% 142.0 -4.6% is led not only by Japan but also by the “little dragons” of Singapore, Burbank (Feb.) ...... 7.1 6.9 +2.9% 7.1 0.0% Hong Kong, South Korea, and Taiwan. These emerging markets have Container volume5 (000’s) experienced major economic change and growth, to now become an Long Beach (Mar.) ...... 412.2 458.3 -10.1% 422.8 -2.5% economically integrated trade region. The growing importance of the Los Angeles (Mar.) ...... 600.8 554.9 +8.3% 550.2 +9.2% Pacific Rim has created opportunities, and business challenges for U.S. importers and exporters. Los Angeles CPI (Mar.) ...... 232.2 229.7 +1.1% 225.5 +3.0% Join HSBC Bank and the Los Angeles Business Journal for a panel %± from discussion on doing business throughout Asia-Pacifi c. REAL ESTATE Latest Previous previous Year %± from period period period ago year ago This Business without Borders seminar is an opportunity to provide you Construction lending (mils.) (Feb.) ...... $92.8 $115.7 -19.8% $119.9 -22.6% with HSBC’s innovative thinking and informed point-of-view on the Asia- Property acquisition lending (mils.)6 (Feb.) ...... $1,287.9 $1,334.6 -3.5% $1,364.0 -5.6% Pacific – to help you conduct business more efficiently and effectively. Refinance lending (mils.) (Feb.)7 ...... $4,747.2 $5,987.1 -20.7% $3,272.9 +45.0% Foreclosures Number (Feb.) ...... 2,327 2,568 -9.4% 2,463 -5.5% Value (mils.) (Feb.) ...... $767.3 $1,002.1 -23.4% $814.7 -5.8% THURSDAY, May 5, 2011 Building contracts (mils.) Residential (Feb.) ...... $84.6 $114.8 -26.3% $137.1 -38.3% Millennium Biltmore Hotel, Emerald Ballroom Nonresidential (Feb.) ...... $169.5 $68.5 +147.4% $1,355.8 -87.5% Building permits (mils.) 506 S. Grand Ave, Los Angeles, CA 90071 Residential (Feb.) ...... $157.1 $178.3 -11.9% $219.8 -28.5% 7:30 AM - 9:30 AM Nonresidential (Feb.) ...... $212.8 $240.4 -11.5% $192.2 +10.7% Tickets are $55 per person and include breakfast. Housing start permits (Feb.) ...... 194 343 -43.4% 645 -69.9% 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% 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% Moderator: Apartments (4th qtr.) DAVE MACDONALD Gross occupancy ...... 93.8% 93.9% -0.1% 94.1% -0.3% Regional Commercial Executive, Avg. sq. ft. rent ...... $1.86 $1.90 -2.1% $1.87 -0.05% Commercial Banking, Avg. monthly rent ...... $1,609 $1,606 +0.2% $1,564 +2.9% HSBC Bank USA Office vacancy rates (1st qtr.) Downtown Los Angeles ...... 15.0% 16.0% -6.3% 15.2% -1.3% San Fernando Valley ...... 18.5% 18.0% +2.8% 18.9% -2.1% West L.A...... 16.6% 16.4% +1.2% 16.4% +1.2% Panelists: South Bay ...... 19.3% 19.0% +1.6% 18.0% +7.2% CESAR ARELLANES JOHN DREW Countywide ...... 16.9% 17.0% -0.6% 16.6% +1.8% Program Manager, Long Beach SVP Global Markets Advisor, International Trade Office and Center HSBC Bank USA, N.A. for International Trade Development Industrial vacancy rates (1st qtr.) Downtown/Central ...... 2.1% 2.3% -8.7% 2.6% -19.2% South Bay ...... 3.1% 3.2% -3.1% 2.7% +14.8% CHRIS KNORR ROBIN PARK, J.D., LL.M. San Gabriel Valley ...... 3.4% 3.6% -5.6% 4.1% -17.1% SVP, Regional Sales Manager Senior Tax Manager, International West Coast and Texas, Global Tax Services, BDO USA, LLP Payments and Cash Management, %± from HSBC Bank USA, N.A. TOURISM Latest Previous previous Year %± from month month month ago year ago Hotel occupancy rate (Feb.) ...... 74.6% 70.2% +6.3% 68.9% +8.3% Room rate (Feb.)...... $158.0 $147.0 +7.5% $139.9 +12.9% Passengers REGISTER TODAY: LAX (000’s) (Feb.) ...... 4,121.5 4,664.2 -11.6% 3,960.5 +4.1% Burbank Airport (000’s) (Feb.) ...... 314.7 341.0 -7.7% 321.5 -2.1% www.labusinessjournal.com/bizevents For more information, contact Marissa De La Cruz at (323) 549-5225 ext. 213 FOOTNOTES or e-mail [email protected]. Sorry, there are no refunds. 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 34 LOS ANGELES BUSINESS JOURNAL INVESTMENTS & FINANCE MAY 2, 2011 THE LABJ STOCK INDEX TRACKING LOS ANGELES-AREA COMPANIES X MARKET DIARY X WEEKLY TOP GAINERS Decent quarterly earnings and upbeat comments from the Federal Reserve on the pace of economic recovery lifted the TOP TEN GAINERS BY PERCENTAGE (with closing prices at least $1) stock market during the week ended April 27. Most of the major indexes hit annual highs during the week, including Apr. 27 Apr. 20 Price 1-Wk 52-Wk YTD the Dow Jones industrial average, which gained nearly 2 percent. The LABJ Index also rose about 2 percent as 136 Company Close Close Change % Chg. % Chg. % Chg. local stocks advanced and just 47 fell. ReachLocal Inc., an online marketing company in Woodland Hills, was the top ReachLocal Inc...... $24.03 $16.05 $7.98 49.7% NA 20.7% local gainer after reporting strong first quarter earnings and announcing a partnership with Google Inc. ReachLocal’s American Apparel Inc...... 1.59 1.15 0.44 38.3% -51.1% -4.2% shares jumped by nearly half to $24.03. American Apparel Inc.’s shares also surged after the downtown L.A. cloth- Staar Surgical Co...... 5.50 4.56 0.94 20.6% 7.6% -9.8% ing maker announced a capital infusion that investors hope will solve lingering financial concerns. Shares rose more Sport Chalet Inc...... 2.49 2.08 0.41 19.7% -31.2% -33.4% than 38 percent to $1.59. Koreatown bank holding company Wilshire Bancorp Inc. was the biggest loser among local Voyager Oil & Gas Inc...... 4.25 3.69 0.56 15.2% 39.3% -21.3% stocks after reporting a hefty first quarter loss. Shares fell 22 percent to $4.04. Mission Valley Bancorp...... 5.00 4.35 0.65 14.9% 6.4% 33.3% UTi Worldwide Inc...... 22.43 19.78 2.65 13.4% 38.2% 5.8% X MARKET INDEXES Green Dot Corp...... 47.34 42.00 5.34 12.7% NA -16.6% Power-One Inc...... 8.15 7.24 0.91 12.6% 53.8% -20.1% Apr. 27 Apr. 20 Point 1-Wk 52-Wk YTD OSI Systems Inc...... 38.23 34.25 3.98 11.6% 44.8% 5.1% Index Close Close Change % Chg. % Chg. % Chg. X WEEKLY TOP LOSERS Dow Jones Industrial ...... 12,690.96 12,453.54 237.42 1.9% 15.5% 9.6% NASDAQ ...... 2,869.88 2,802.51 67.37 2.4% 16.1% 8.2% TOP TEN LOSERS BY PERCENTAGE (with opening prices at least $1) S&P 500 ...... 1,355.66 1,330.36 25.30 1.9% 14.5% 7.8% Apr. 27 Apr. 20 Price 1-Wk 52-Wk YTD LABJ Index ...... 145.25 142.59 2.66 1.9% 9.8% 7.0% Company Close Close Change % Chg. % Chg. % Chg. X INDUSTRY ANALYSIS Wilshire Bancorp Inc...... $4.04 $5.19 -$1.15 -22.2% -64.2% -47.0% U.S. China Mining Group Inc...... 4.01 4.50 -0.49 -10.9% -48.3% -36.9% Apr. 27 Apr. 20 Point 1-Wk 52-Wk YTD Demand Media Inc...... 14.90 16.35 -1.45 -8.9% NA NA Index Close Close Change % Chg. % Chg. % Chg. CB Richard Ellis Group Inc...... 26.75 29.01 -2.26 -7.8% 61.1% 30.6% THQ Inc...... 4.11 4.43 -0.32 -7.2% -45.9% -32.2% AEROSPACE/DEFENSE ...... 204.71 200.02 4.69 2.3% -8.4% -1.0% Hanmi Financial Corp...... 1.30 1.39 -0.09 -6.5% -49.9% 13.0% APPAREL ...... 115.70 110.72 4.98 4.5% -22.1% -5.9% Salem Communications Corp...... 3.65 3.86 -0.21 -5.4% -22.2% 15.1% AUTOMOTIVE/PLASTICS/METALS ...... 336.01 334.77 1.24 0.4% 18.9% 10.8% Simulations Plus Inc...... 3.10 3.23 -0.13 -4.0% 34.8% 15.2% Scope Industries...... 220.00 228.00 -8.00 -3.5% 81.8% 70.5% BIOMEDICAL/PHARMACEUTICAL...... 81.10 80.07 1.03 1.3% -4.6% 1.1% Entravision Communications Corp...... 2.30 2.38 -0.08 -3.4% -32.4% -10.5% COMPUTERS/PERIPHERALS/ELECTRONICS . . .23.43 22.54 0.89 3.9% 33.7% 7.0% CONSTRUCTION/ENGINEERING ...... 272.65 273.41 -0.76 -0.3% -6.0% 1.0% X MARKET SUMMARY ENERGY/UTILITIES...... 470.00 460.81 9.19 2.0% 18.2% 5.3% MOST ACTIVE STOCKS WEEKLY SUMMARY FINANCIAL SERVICES...... 164.03 161.78 2.25 1.4% 3.0% 1.5% HEALTH CARE...... 518.77 496.17 22.60 4.6% 38.7% 23.9% TOP TEN STOCKS VOLUME Advances ...... 136 Declines...... 47 INSURANCE ...... 142.08 140.39 1.70 1.2% -3.7% -0.8% Amgen Inc...... 49,328,719 Unchanged ...... 15 INTERNET ...... 121.95 113.00 8.95 7.9% 31.0% 5.1% Walt Disney Co...... 22,739,839 New Highs ...... 18 MEDIA/LEISURE/ENTERTAINMENT ...... 97.82 96.12 1.71 1.8% 6.6% 12.1% Activision Blizzard Inc...... 20,453,759 New Lows ...... 7 CB Richard Ellis Group Inc...... 20,299,171 MANUFACTURING ...... 145.44 143.00 2.44 1.7% 7.0% 1.6% NOTES ON STOCK TABLES MISC. SERVICES ...... 173.17 166.80 6.38 3.8% 31.1% 2.0% UTi Worldwide Inc...... 19,481,906 DirecTV ...... 18,077,360 REAL ESTATE ...... 627.13 616.64 10.49 1.7% 35.8% 17.6% Tables based on Apr. 20 - 27 Mattel Inc...... 15,201,194 RESTAURANTS/RETAIL/GROCERY STORES. . .187.08 192.11 -5.04 -2.6% 6.0% 2.4% Occidental Petroleum Corp...... 14,563,973 (H) Stock hit new 52-week high SOFTWARE ...... 669.18 653.13 16.05 2.5% -2.0% -9.4% KB Home...... 14,196,341 (L) Stock hit new 52-week low American Apparel Inc...... 12,968,153 (S) Stock split during week Investment Banking and Financial Duff & Phelps is a national investment banking and financial advisory firm focused on providing merger and acquisition, private placement, valuation, financial opinion and restruc- Advisory Services Since 1932 turing services. Since 1932, Duff & Phelps has been committed to delivering independent advice and service of exceptional quality to a broad range of public and private companies. All stock data is provided by Duff & Phelps from sources deemed reliable. No recommendation is intended or implied. The firm can be contacted at (310) 689-0070. Los Angeles Business Journal’s WOMEN MAKING A DIFFERENCE Honoring L.A.’s most successful women business leaders. The Los Angeles Business Journal is proud to honor women of outstanding achievement in our business community. In its 19th year, this annual awards event will recognize L.A.’s most successful women business leaders. Luncheon & Awards Ceremony To register to attend this event please visit Wednesday, May 18, 2011 www.labusinessjournal.com/bizevents 11 a.m. - 1:30 p.m. or contact Marissa De La Cruz at Hyatt Regency Century Plaza, Los Angeles Ballroom [email protected] 2025 Avenue of the Stars, Los Angeles, CA 90067 $95 per ticket; $800 per table for 10 Advertising Supplement: May 23, 2011 PRESENTING SPONSOR: GOLD SPONSORS: Moss Adams LLP Wedbush Bank Pepperdine University Graziadio Wells Fargo Bank School of Business and Management 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page MAY 2, 2011 INVESTMENTS & FINANCE LOS ANGELES BUSINESS JOURNAL 35 S TOP GAINERS T TOP LOSERS THE LABJ STOCK INDEX TRACKING LOS ANGELES-AREA COMPANIES Apr. 27 1-Wk YTD 52-Wk P.E. Mkt. Cap Apr. 27 1-Wk YTD 52-Wk P.E. Mkt. Cap Company Ticker Close % Chg % Chg % Chg Ratio (millions) Company Ticker Close % Chg % Chg % Chg Ratio (millions) AEROSPACE/DEFENSE InstaCare Corp. ISCR $0.05 28.6% -10.0% -57.1% NA $4.8 Aerovironment Inc. AVAV $28.53 2.4% 6.3% 8.9% 26.4 $624.7 IPC The Hospitalist Co Inc. (H) IPCM 49.83 9.9% 27.7% 69.0% 31.5 815.6 AML Communications Inc. AMLJ 2.48 0.8% 85.1% 81.0% 22.5 26.6 Molina Healthcare Inc. MOH 41.66 3.1% 49.6% 49.7% 19.3 1,271.6 Ducommun Inc. DCO 22.79 -1.0% 4.6% -3.8% 13.6 240.0 RadNet Inc. RDNT 3.62 2.0% 28.4% -5.5% NA 134.9 Flamemaster Corp. FAME 5.25 5.0% 7.1% 36.4% 11.2 6.6 VCA Antech Inc. WOOF 24.82 3.0% 6.6% -12.8% 18.5 2,140.2 Northrop Grumman Corp. NOC 62.90 3.8% 7.0% 3.2% 9.7 18,412.1 INSURANCE Teledyne Technologies Inc. TDY 49.51 6.1% 12.6% 16.3% 15.2 1,814.1 Mercury General Corp. MCY 39.37 3.3% -8.5% -11.7% 18.8 2,158.2 APPAREL Unico American Corp. UNAM 9.65 0.8% 5.6% 6.1% 22.4 51.3 S American Apparel Inc. APP 1.59 38.3% -4.2% -51.1% NA 123.6 Wesco Financial Corp. WSC 390.50 0.2% 6.0% 3.7% 34.1 2,780.3 Cherokee Inc. CHKE 19.09 1.5% 1.5% -6.8% 21.9 162.2 INTERNET Guess? Inc. GES 41.78 8.5% -11.7% -10.5% 13.4 3,856.7 Accelerize New Media Inc. ACLZ 0.38 -5.0% -36.7% -30.9% NA 11.9 Horiyoshi Worldwide Inc. HHWW 0.43 -4.2% -74.6% NA NA 27.4 Bidz.com Inc. BIDZ 1.30 0.8% 7.2% -36.6% NA 25.3 Hot Topic Inc. HOTT 6.79 4.5% 8.0% -10.5% 169.8 303.2 J2 Global Communications Inc. JCOM 29.49 2.4% 1.9% 23.3% 15.8 1,353.1 Ironclad Performance Wear Corp. ICPW 0.10 0.0% 0.0% -20.0% NA 7.3 MMRGlobal Inc. MMRF 0.05 -9.5% -43.3% -72.8% NA 12.5 Joe's Jeans Inc. JOEZ 0.99 -2.0% -36.3% -62.8% 33.0 63.8 S ReachLocal Inc. RLOC 24.03 49.7% 20.7% NA NA 690.5 K-Swiss Inc. KSWS 12.39 2.5% -0.6% -7.3% NA 438.4 Spark Networks Inc. LOV 3.24 -0.9% 9.1% -5.7% 17.1 66.7 People's Liberation Inc. PPLB 0.13 -7.1% 18.2% -13.9% NA 4.7 Stamps.com Inc. STMP 12.69 2.7% -4.2% 41.5% 25.4 184.5 Skechers U.S.A. Inc. SKX 20.57 2.3% 2.9% -49.4% 11.0 993.4 United Online Inc. UNTD 6.51 7.8% -1.4% -22.5% 10.7 572.9 Talon International Inc. TALN 0.15 0.0% 42.9% 7.1% NA 3.0 ValueClick Inc. VCLK 16.50 9.0% 2.9% 67.7% 16.7 1,333.1 True Religion Apparel Inc. TRLG 27.69 4.4% 24.4% -12.1% 14.8 695.7 MANUFACTURING AUTOMOTIVE/PLASTICS/METALS American Metal & Technology Inc. AMGY 0.35 -12.5% -2.8% -20.5% 10.6 4.2 Motorcar Parts of America Inc. MPAA 13.60 0.6% 4.3% 115.9% 13.1 164.1 Avery Dennison Corp. (H) AVY 43.10 4.9% 1.8% 4.1% 14.3 4,606.3 Reliance Steel & Aluminum Co RS 56.67 2.9% 10.9% 15.0% 21.7 4,231.0 BioSolar Inc. BSRC 0.14 11.6% 40.6% 28.6% NA 21.5 Superior Industries International Inc. SUP 25.34 3.2% 19.4% 48.7% 12.0 680.8 Cereplast Inc. CERP 5.00 7.8% 20.8% -2.9% NA 78.4 US Auto Parts Network Inc. PRTS 7.60 2.0% -9.5% -8.7% 63.3 231.4 Dole Food Co. Inc. DOLE 13.64 3.8% 1.0% 16.9% NA 1,208.5 BIOMEDICAL/PHARMACEUTICAL Ever-Glory International Group Inc. EVK 1.90 5.6% -10.0% -38.7% 4.0 28.0 Amgen Inc. AMGN 56.82 3.0% 3.5% -1.8% 11.9 53,016.1 Farmer Bros Co. FARM 11.41 6.7% -35.9% -37.7% NA 184.9 Arrowhead Research Corp. (L) ARWR 0.59 -7.3% -33.7% -61.0% NA 42.6 Jakks Pacific Inc. (H) JAKK 20.83 10.6% 14.3% 37.2% 20.6 562.6 CytRx Corp. CYTR 0.84 3.7% -16.8% -20.0% NA 91.8 Mattel Inc. MAT 26.94 1.5% 5.9% 15.7% 15.0 9,364.0 Iris International Inc. IRIS 9.41 7.1% -8.0% -17.6% 37.0 167.5 S OSI Systems Inc. OSIS 38.23 11.6% 5.1% 44.8% 23.5 728.4 MannKind Corp. MNKD 4.10 11.4% -49.1% -37.5% NA 535.7 Overhill Farms Inc. OFI 6.05 -0.5% 5.0% -3.5% 15.5 95.7 Obagi Medical Products Inc. OMPI 12.99 5.5% 12.5% -1.4% 20.3 240.3 Reed's Inc. REED 1.96 8.9% -2.5% -11.7% NA 21.2 Physicians Formula Holdings Inc. (H) FACE 5.29 11.1% 40.7% 73.4% 176.3 71.9 Virco Manufacturing VIRC 2.97 -2.6% 12.5% -6.3% NA 42.2 Oxis International Inc. OXIS 0.10 -2.0% -32.4% -36.8% NA 15.9 Vision Industries Corp. VIIC 0.19 -24.0% -32.1% -24.0% NA 6.7 Response Genetics Inc. RGDX 2.24 0.9% -9.7% 5.0% NA 41.1 MEDIA/LEISURE/ENTERTAINMENT S Staar Surgical Co. STAA 5.50 20.6% -9.8% 7.6% NA 194.0 Crown Media Holdings Inc. CRWN 2.26 7.6% -13.7% 23.5% NA 812.9 COMPUTERS/PERIPHERALS/ELECTRONICS Daily Journal Corp. DJCO 73.00 0.0% 1.4% 5.0% 13.0 100.8 Aura Systems Inc. AUSI 0.75 -1.3% 0.0% -11.8% NA 43.1 T Demand Media Inc. (L) DMD 14.90 -8.9% NA NA NA 1,234.5 GTX Corp. GTXO 0.06 14.0% -24.0% -65.9% NA 2.9 Derycz Scientific Inc. DYSC 3.00 0.0% 13.2% 275.0% NA 45.8 Interlink Electronics Inc. LINK 0.30 0.0% 7.1% 0.0% NA 4.1 DirecTV (H) DTV 47.89 3.9% 19.9% 32.8% 19.3 37,908.5 International Rectifier Corp. IRF 33.76 6.8% 13.7% 40.3% 15.3 2,357.9 DreamWorks Animation SKG Inc. (L) DWA 25.92 -1.8% -12.0% -38.8% 5.2 2,188.7 Ixia XXIA 16.18 7.4% -3.6% 59.6% 67.4 1,107.8 DTS Inc. DTSI 44.49 6.0% -9.3% 30.0% 51.7 773.6 MRV Communications Inc. MRVC 1.54 4.8% -14.0% 7.7% 17.1 242.6 T Entravision Communications Corp. EVC 2.30 -3.4% -10.5% -32.4% 32.9 195.3 PC Mall Inc. MALL 10.00 -0.9% 32.1% 92.3% 16.1 123.9 Image Entertainment Inc. DISK 0.16 0.0% 14.3% -23.4% NA 40.9 S Power-One Inc. PWER 8.15 12.6% -20.1% 53.8% 7.4 848.8 Lions Gate Entertainment Corp. LGF 6.40 2.4% -1.7% -3.3% NA 875.1 Qualstar Corp. QBAK 1.79 0.4% 5.7% -4.5% NA 21.9 Live Nation Entertainment Inc. LYV 10.79 10.0% -5.5% -31.9% NA 1,960.3 Semtech Corp. (H) SMTC 27.86 11.0% 23.1% 49.5% 23.6 1,802.1 NeuMedia Inc. MNDL 0.47 0.0% 62.1% 56.7% NA 17.0 Taitron Components Inc. TAIT 1.50 3.4% -5.1% -7.4% NA 8.3 Point.360 PTSX 0.77 26.2% -12.5% -61.3% NA 8.4 Trio Tech International TRT 4.40 -2.0% 5.5% 5.3% 12.2 14.5 Provision Holding Inc. (L) PVHO 0.06 1.9% -8.3% -60.4% NA 2.5 Vitesse Semiconductor Corp. VTSS 5.18 3.8% 23.6% -39.1% NA 125.6 Public Media Works Inc. PUBM 0.65 8.3% -31.6% -35.0% NA 20.7 CONSTRUCTION/ENGINEERING Reading International Inc. RDI 4.80 0.6% -5.0% 12.1% NA 112.8 Aecom Technology Corp. ACM 26.96 4.4% -3.6% -10.2% 12.7 3,200.9 RealD Inc. (H) RLD 30.01 2.7% 15.8% NA NA 1,539.6 Ameron International Corp. AMN 70.21 4.1% -8.1% 4.9% 39.7 641.6 T Salem Communications Corp. SALM 3.65 -5.4% 15.1% -22.2% 26.1 88.2 Jacobs Engineering Group Inc. JEC 49.35 0.2% 7.6% 4.0% 20.0 6,237.0 Sports Club Inc. SCYL 0.25 0.0% NA NA NA 5.4 KB Home KBH 12.01 3.0% -11.0% -33.3% NA 924.5 Stratus Media Group Inc. SMDIE 1.00 17.6% 56.3% -37.5% NA 67.3 Ryland Group Inc. RYL 17.55 0.3% 3.1% -27.8% NA 775.8 Tix Corp. TIXC 1.75 5.4% 41.1% 25.0% 43.8 54.5 Tetra Tech Inc. TTEK 23.29 0.0% -7.1% 3.3% 18.3 1,450.8 Walt Disney Co. DIS 42.58 3.0% 13.5% 17.2% 18.7 80,862.4 Tutor Perini Corp. (H) TPC 25.64 2.0% 19.8% 11.3% 12.0 1,207.4 Warner Music Group Corp. WMG 7.43 1.6% 32.0% 8.5% NA 1,151.5 ENERGY/UTILITIES MISC. SERVICES American States Water Co AWR 34.83 1.0% 1.0% -6.5% 16.1 649.7 Cadiz Inc. CDZI 12.08 0.2% -2.9% -5.6% NA 150.6 BNK Petroleum Inc. BKX 6.35 5.2% 78.2% 114.1% NA 914.0 Electro Rent Corp. ELRC 15.43 -3.2% -4.5% 8.9% 18.4 370.0 BreitBurn Energy Partners LP BBEP 21.60 2.9% 7.2% 46.8% 11.6 1,275.3 Enova Systems Inc. ENA 1.02 -1.4% -20.1% -21.2% NA 32.3 Capstone Turbine Corp. CPST 1.89 2.7% 96.9% 50.0% NA 464.9 Korn/Ferry International KFY 20.26 -0.5% -12.3% 19.0% 19.1 951.6 Cavitation Technologies Inc. CVAT 0.11 20.0% -25.5% -28.0% NA 15.0 National Technical Systems Inc. NTSC 7.43 1.8% -7.9% 38.9% 12.2 75.4 Edison International EIX 39.20 2.7% 1.6% 17.8% 11.3 12,771.8 NetSol Technologies Inc. NTWK 1.76 4.1% -5.9% 109.5% 12.6 89.9 Occidental Petroleum Corp. OXY 103.00 4.3% 5.0% 22.1% 18.1 83,723.5 On Assignment Inc. ASGN 9.13 1.3% 12.0% 29.3% 228.3 335.6 T U.S. China Mining Group Inc. SGZH 4.01 -10.9% -36.9% -48.3% 4.6 75.8 Rentech Inc. RTK 1.14 0.0% -6.6% 1.8% NA 253.3 S Voyager Oil & Gas Inc. VOG 4.25 15.2% -21.3% 39.3% NA 245.8 T Scope Industries SCPJ 220.00 -3.5% 70.5% 81.8% 68.1 219.7 FINANCIAL SERVICES Simon Worldwide Inc. (L) SWWI 0.20 -13.0% -18.5% -14.9% NA 10.1 1st Century Bancshares Inc. FCTY 3.75 -1.8% -8.5% -6.3% NA 36.6 Sionix Corp. SINX 0.16 -2.5% 210.0% 72.2% NA 37.5 American Business Bank AMBZ 23.50 2.2% 5.5% 0.4% 11.4 102.7 S UTi Worldwide Inc. (H) UTIW 22.43 13.4% 5.8% 38.2% 32.5 2,290.9 Anworth Mortgage Asset Corp. ANH 7.05 1.1% 0.7% -0.7% 8.0 857.2 REAL ESTATE Bank of Santa Clarita BSCA 9.00 11.1% 29.5% 24.1% 34.6 15.4 Alexandria Real Estate Equities Inc. ARE 80.63 5.0% 10.1% 11.7% 27.2 4,468.1 Beach Business Bank BBBC 6.25 0.8% 25.0% 30.2% NA 25.1 T CB Richard Ellis Group Inc. (H) CBG 26.75 -7.8% 30.6% 61.1% 33.4 8,655.8 Broadway Financial Corp. BYFC 2.22 -3.1% -8.6% -48.4% 5.2 3.9 Douglas Emmett Inc. (H) DEI 20.40 5.3% 22.9% 19.8% NA 2,535.1 California United Bank CUNB 12.35 1.6% 0.0% 1.2% NA 60.9 HCP Inc. (H) HCP 40.02 5.6% 8.8% 24.4% 35.7 16,248.4 Cathay General Bancorp CATY 17.08 0.7% 2.3% 24.6% 25.5 1,343.1 Hudson Pacific Properties Inc. (L) HPP 14.62 4.7% -2.9% NA NA 328.3 Center Financial Corp. CLFC 7.44 5.4% -1.8% 23.8% 16.5 296.8 Intergroup Corp. INTG 22.46 4.5% 3.9% 56.1% 6.1 54.4 City National Corp. CYN 57.83 2.2% -5.8% 1.5% 20.3 3,057.7 Kennedy-Wilson Holdings Inc. KW 11.24 4.1% 12.5% 2.3% NA 451.6 Colony Financial Inc. CLNY 18.57 0.5% -7.2% -2.5% 15.1 607.9 Kilroy Realty Corp. (H) KRC 40.90 2.7% 12.1% 15.8% 185.9 2,358.7 East West Bancorp Inc. EWBC 21.45 -1.5% 9.7% 10.7% 17.3 3,187.4 LTC Properties Inc. (H) LTC 29.72 2.0% 5.8% 6.9% 25.0 901.5 Farmers & Merchants Bank FMBL 4300.00 0.0% 8.3% 0.5% 10.2 563.0 Macerich Co. (H) MAC 51.87 3.8% 9.5% 20.1% 399.0 6,761.2 First California Financial Group Inc. FCAL 3.79 -0.5% 35.4% 22.7% NA 106.8 MPG Office Trust Inc. MPG 3.32 4.1% 20.7% -15.1% NA 162.8 General Finance Corp. GFN 3.10 -1.6% 56.6% 124.6% NA 68.2 Meruelo Maddux Properties Inc.* MMPIQ 0.45 -8.2% 60.7% 542.9% NA 39.6 Great American Group Inc. GAMR 0.34 -2.9% -30.6% -83.9% NA 10.5 Pacific Office Properties Trust Inc. PCE 2.27 4.6% -45.6% -45.0% NA 44.0 S Green Dot Corp. GDOT 47.34 12.7% -16.6% NA 50.4 1,982.5 Portsmouth Square Inc. PRSI 25.00 4.2% 8.7% 42.5% 7.2 18.4 T Hanmi Financial Corp. HAFC 1.30 -6.5% 13.0% -49.9% NA 196.6 PS Business Parks Inc. PSB 59.64 2.6% 7.0% 1.9% 42.0 1,471.7 Kaiser Federal Financial Group Inc. KFFG 12.11 0.9% 4.6% -12.9% 16.4 115.8 Public Storage (H) PSA 116.58 4.3% 14.9% 22.9% 45.5 20,846.0 Malaga Financial Corp. MLGF 17.00 -2.9% 11.5% 30.8% 9.3 98.6 Santa Fe Financial Corp. SFEF 15.00 0.0% 13.6% 100.0% 150.0 18.6 Manhattan Bancorp MNHN 5.40 -0.9% 4.9% -13.6% NA 21.5 Thomas Properties Group Inc. TPGI 3.55 9.9% -15.9% -19.3% NA 180.2 S Mission Valley Bancorp MVLY 5.00 14.9% 33.3% 6.4% NA 12.3 RESTAURANTS/RETAIL/GROCERY Nara Bancorp Inc. NARA 9.78 5.0% -0.8% 12.7% NA 371.6 99 Cents Only Stores (H) NDN 20.33 2.1% 27.5% 26.4% 18.8 1,424.6 NCAL Bancorp NCAL 10.00 0.0% NA NA NA 23.3 Arden Group Inc. ARDNA 81.27 0.5% -1.5% -22.4% 14.2 256.9 Pacific Commerce Bank/CA PFCI 3.75 0.0% 25.0% -25.0% NA 9.2 Big 5 Sporting Goods Corp. BGFV 11.99 1.2% -21.5% -30.8% 11.9 261.9 PacWest Bancorp PACW 23.27 10.4% 8.8% -2.2% 258.6 825.2 California Pizza Kitchen Inc. CPKI 16.12 1.5% -6.7% -21.4% 19.9 396.2 PennyMac Mortgage Investment Trust PMT 18.24 0.8% 0.5% 4.6% 12.8 506.4 Cheesecake Factory Inc. CAKE 29.66 -0.6% -3.3% 0.4% 20.3 1,725.1 Preferred Bank PFBC 1.61 8.1% -8.5% -30.3% NA 106.3 DineEquity Inc. DIN 49.96 -1.3% 1.2% 6.1% 49.0 912.1 SearchMedia Holdings Ltd. IDI 2.35 6.8% -24.4% -55.0% NA 49.0 Grill Concepts Inc. GLLC 0.27 -18.2% -6.9% -20.6% NA 2.4 Saehan Bancorp SAEB 0.32 0.0% -17.9% -64.4% NA 3.9 Jerry's Famous Deli Inc. DELI 2.00 0.0% -42.9% -33.3% 6.5 9.3 T Wilshire Bancorp Inc. (L) WIBC 4.04 -22.2% -47.0% -64.2% NA 119.1 S Sport Chalet Inc. SPCHB 2.49 19.7% -33.4% -31.2% NA 28.6 HEALTH CARE Apollo Medical Holdings Inc. AMEH 0.24 13.7% 59.2% 70.6% NA 6.6 SOFTWARE Compumed Inc. CMPD 0.09 12.5% 0.0% -62.5% NA 2.5 Activision Blizzard Inc. ATVI 11.59 3.3% -6.8% 1.3% 24.1 13,702.3 CrowdGather Inc. CRWG 0.97 14.9% -38.5% -25.8% NA 54.9 CyberDefender Corp. CYDE 1.80 1.7% -41.2% -55.0% NA 50.4 Health Net Inc. HNT 33.52 6.7% 22.8% 50.7% 14.4 3,083.7 Guidance Software Inc. GUID 7.92 -0.5% 10.2% 33.6% NA 182.8 Hemacare Corp. HEMA 0.47 17.5% -14.5% -15.5% NA 4.6 Peerless Systems Corp. PRLS 3.18 1.9% 1.0% 10.1% 12.7 10.7 Herbalife Ltd. (H) HLF 89.99 4.1% 31.6% 92.7% 18.8 5,314.1 T Simulations Plus Inc. SLP 3.10 -4.0% 15.2% 34.8% 20.7 47.8 Imaging3 Inc. IMGG 0.09 -18.3% -38.6% -83.8% NA 35.8 T THQ Inc. THQI 4.11 -7.2% -32.2% -45.9% NA 279.7 * 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 36 LOS ANGELES BUSINESS JOURNAL REAL ESTATE MAY 2, 2011 Santa Monica Shoemaker Steps Into Playa Vista Olympic Blvd., where the company has been Landlord Karney Management Co. was LEASE: Toms sees a better for two years. represented by John Bertram, executive vice A key selling point for the two-story build- president at Coldwell Banker Commercial fit alongside creative firms ing was its price. Asking rents in Santa Monica WestMac. Colleague Tim Macker, senior vice at 5404 Jandy Place. average nearly $4 a square foot. president, also worked on the deal. “Their decision was based on multiple Lee broker Mike Tingus joined Belden in HE Playa Vista area is gaining another things: mainly economics. Second to that was representing Toms. high-profile creative tenant. Toms parking. Lastly, it was a very modest but cre- T Shoes Inc., a five-year-old trendy can- ative environment that Toms was searching Studio Offering vas footwear company known for donating for,” said Trevor Belden, principal at Lee & Fledging real estate investment trust Hud- pairs of shoes to the needy, is moving its head- Associates-LA North/Ventura Inc., which son Pacific Properties Inc. issued 6.75 mil- quarters there. represented Toms. lion new shares last week as it works to repay The 10-year deal secures 70,850-square- The rapidly growing shoe company donates debts and fund new acquisitions. feet of office space at 5404 Jandy Place at a one pair of shoes to a child in a low-income The secondary offering, expected to raise cost of about $1.25 per square foot a month. country for every pair sold. The expansion fol- about $100 million, is expected to close May Toms is leaving its smaller offices of less than lows an announcement by the company that it 3. The shares were priced at $14.62, a premi- 20,000 square feet in Santa Monica on 3025 will be growing its product line in June. Making Tracks: 5404 Jandy Place. um above the stock’s recent trading range. Shares closed at $14.19 on April 28. NEW Since going public in a $210 million IPO EVENT! last June, Hudson Pacific has been aggressive- ly buying up media and entertainment build- ings statewide. It is led by Chief Executive Victor Coleman, who co-founded Arden Realty Inc., which was sold to the real estate division of Fairfield, Conn.-based General Electric Co. for $4.8 billion in 2006. REAL ESTATE JACQUELYN RYAN Hudson Pacific’s portfolio comprises 12 properties totaling about 3.4 million square feet. Its most valuable asset is Rincon Center, a popular San Francisco mixed-used complex featuring shops, restaurants, apartments and offices. Hudson Pacific acquired 51 percent of The Los Angeles Business Journal is proud to present a tribute to the nonprofits of the complex, and may use some of the sec- Los Angeles. We honor those professionals and organizations that continue to make ondary offering’s proceeds to acquire the rest a positive impact on the community and do so under difficult financial constraints. from its joint venture partner, according to a Securities and Exchange Commission filing. Equally as important are the efforts of the corporations supporting these nonprofits. The company’s shares have been on a Many corporate executives volunteer time on boards and lend support through financial downward slide since a July 2010 public offer- donations and sponsorships. These awards recognize both equally important groups. ing, after which stock price briefly rose above the $17 mark. Craig Mailman, an analyst at Cleveland-based KeyBanc Capital Markets Inc., which is co-managing the offering, wrote in a note to clients that he expects the addition- CALL FOR NOMINATIONS al liquidity provided by the offering to boost Nomination Deadline: Friday, May 27, 2011 the share price. “We suspect an equity issuance will prove Downloadable nomination forms available at labusinessjournal.com/bizevents to be a catalyst for the stock,” Mailman stated. [email protected] The underwriters include Bank of America or by emailing Merrill Lynch, Barclays Capital, Morgan Stanley and Wells Fargo Securities. Hudson Pacific, which is announcing earnings May 10, 2011 AWARD CATEGORIES declined comment. Good Fellow Attorney Arthur Mazirow was named a Nonprofit Organizations, Leadership & Support Team Awards fellow of the American College of Real Organization of the Year (Small, Medium and Large Categories) Estate Lawyers, an organization that provides Leadership Excellence professional support and seeks to advance Nonprofi t Team real estate law. A mediation and arbitration expert who Project Collaboration runs his own Century City real estate dispute- Social Enterprise resolution firm, Mazirow was elected to the Rockville, Md., organization’s board of direc- Corporate Citizenship Awards tors. Fellows must have at least 10 years of experience in the field, and are evaluated by Corporate Partner of the Year their reputation and demonstrated abilities. Leadership Excellence “It’s a very nice compliment from my Volunteer of the Year peers, of which I am deeply appreciative,” said Corporate Social Responsibility Mazirow, 77, who plans to work on alternative dispute-resolution issues. In-Kind Supporter For information on sponsorship Mazirow has decades of experience in com- opportunities or for general inquiries, mercial and industrial real estate, including please call Marissa De La Cruz at work as a transactional attorney, litigator, arbi- 323.549.5225 x213 trator and expert witness. He has lectured at PRESENTING SPONSOR: local universities, as well as the Los Angeles County Bar Association and other groups. Staff reporter Jacquelyn Ryan can be reached at [email protected] or at (323) 549-5225, ext. 228. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page MAY 2, 2011 LOS ANGELES BUSINESS JOURNAL 37 Investment Properties For Sale OFFICE COMMERCIAL 2 101 PRICED WELL BELOW W. 3rd Dodger 5 WILSHIRE Stadium CURRENT APPRAISAL! BLVD. 10 LOS ANGELES COUNTY VENTURA COUNTY FIGUEROA FLOWER Santa 10 Clarita ALAMEDA 60 110 118 Simi 2 Valley • Pre-School Currently Operated With COMMERCIAL Northridge Montessori Credentials Burbank • 4,326 SF On Highly Visible Corner Location Agoura 170 WILSHIRE CORRIDOR 101 5 Hills • Near Elementary School & High School ONCE IN A LIFETIME OPPORTUNITY! Hollywood Pasadena 210 Calabasas Glendale 405 West Steve Warshauer 4 Alhambra 10 1 Covina 888-895-7535 ext 225 Santa LOS ANGELES Pomona [email protected] Monica 2 1 Montebello 3 Malibu Whittier Venice Culver City LOS ANGELES COUNTY Marina Del Rey Lynwood 5 FOR SALE ORANGE COUNTY PERFECT OWN-USER El Segundo OFS/IND. BLDG. FOR SALE Hawthorne Manhattan Beach • w/ 2 retail tenants • Prime Location in Westwood 5 miles Hermosa Beach • 10777 & 10763 Wilshire Blvd. 90024 Torrance • 4865 W Washington Redondo Beach Anaheim • Entitled for 60 condos. - approx. 85,000 sq.ft. Carson • $1,290,000 • 30,021 sq ft land Long ◆ • Brokers welcome 5 Sam Ferrell Beach (310) 478 7700 x382 All offers due by 4/30/2011 Rancho Palos Huntington Santa Ana Verdes LONG Beach BEACH Contact Michael Bitton at (310) 279-0709 San Clemente Irvine LEGEND LOS ANGELES HARBOR [email protected] HARBOR INDUSTRIAL Office Costa Mesa FOR SALE Residential FOR SALE RARE WEST HOLLYWOOD BLDG. GENERAL INDUSTRIAL SITE Commercial • Heart of La Cienega • Owner Will Carry Design Quarter Industrial • Warehouse & Garages Plus • 13’ ceilings, designer floors 1,500 SF Offi ce-.49 Acres • 7 Car parking Land • Located Near 710 Fwy & Port of Long Beach ◆ L. Bakan/G. Berwick (310) 478-7700 Linda Martinez ◆ 888-895-7535 ext 216 Need more information on Call Rosz Murray advertising your Investment Property? 323.549.5225 ext. 215 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 38 LOS ANGELES BUSINESS JOURNAL MAY 2, 2011 BUSINESS MARKETPLACE BUSINESS OWNERSHIP OPPORTUNITY BUSINESS SERVICES 21,325,673 Residential doors are in Los Angeles, representing a large and untapped market with little competition for door replacement as a service to homeowners. Master this niche business with our proven system, technology and marketing. Only 4 protected, prime territories available in Los Angeles. www.DoorOpportunity.com P I Z Z A PA R L O R LEGAL NOTICES NOTICE TO ABSENT DEFENDANT SUMMONS (CITACION JUDICIAL) STATE OF NEW JERSEY TO: CASE NUMBER (Numeral del Caso): 30-2011 00439590 KYONG HO “RICHARD” MURPHY NOTICE TO DEFENDANT: (AVISO AL DEMANDADO): You are hereby summoned and required to serve upon BLANK ROME, LLP, Plaintiff’s Attorneys, whose address is 301 HARD MONEY DIRECT, INC. a California corporation; CAL JOSEPH RAVANA an individual; MICHAEL FLORIT, an individual; JOHN FLORIT, an Carnegie Center, 3rd Floor, Princeton, New Jersey 08540, an Answer to the Complaint, fi led in a civil action in which Heartland individual, and DOES 1-50, inclusive Payment Systems (“Heartland”) is Plaintiff and Kyong Ho “Richard” Murphy is Defendant, pending in the Superior Court of YOU ARE BEING SUED BY PLANTIFF: (LO ESTA DEMANDANDO EL DEMANDANTE): New Jersey, Law Division, Mercer County and bearing Docket No.: L-2349-10, within thirty-fi ve (35) days after the date of WILLIAM MARTIN, an individual; and DEL TORO LOAN SERVICING, INC. a California corporation publication of this notice, exclusive of the date of service. If you fail to do so, judgment by default may be rendered against you for the relief demanded in the Complaint. You have 30 CALENDAR DAYS after this summons and legal papers are served on you to fi le a A written response at this court and have a copy served on the plaintiff. Your written response must be in letter or phone call will not protect you. There may be a court proper legal form You shall fi le your answer and proof of service in duplicate with the Clerk of the Superior Court of New Jersey, Superior Court if you want the court to hear your case. You can fi nd these court forms and form that you can use for your response. more information at the of New Jersey – Law Division, Mercer County Civil Courts Building, 175 S. Broad St., P.O. Box 8068, Trenton, NJ 08650-0068, California Courts Online Self-Help Center (www.courtinfo.ca.gov/selfhelp), your county law If you cannot pay the fi ling fee, ask library, or the courthouse nearest you. If you do not fi le your response on the court clerk for a fee waiver form. time, you may lose the case by default, and in accordance with the New Jersey Rules of Civil Practice and Procedure. your wages, money, and property may be taken without further warning from the court. THE ACTION has been instituted against you, Kyong Ho “Richard” Murphy, for the purpose of obtaining compensatory and There are other legal If you do not know You may want to call an attorney right away. requirements. If you cannot an attorney, you may want injunctive relief, as well as attorneys’ fees, costs of suit, and other relief that the Court deems equitable and just. It is alleged to call an attorney referral service. afford an attorney, you may be eligible for free legal services from a nonprofi t You an locate these nonprofi t groups at the California legal services program. Legal Services Web site (www.lawhelpcalifornia.org), the California Courts Online Self-Help that you were employed by Plaintiff Heartland until March 19, 2010. It is further alleged that, after your termination, you Center (www.courtinfo.ca.gov/selfhelp), or by contacting your local court or county bar association. violated your employment agreement with Heartland by using Heartland’s confi dential information and soliciting Heartland’s Tiene 30 DIAS DE CALENDARIO despues de que le entreguen esta citacion y papeles legales pare presenter una respuesta por escrito en merchants on behalf of your new employer. It is further alleged that you misappropriated Heartland’s trade secrets and esta corte y hacer que se entregue una copia al Su respuesta Una carta o una llamada telefonica no lo protegen. demandante. por escrito tortiously interfered with Heartland’s contractual relationships. Heartland’s allegations are set forth with particularity in the tiene que estar en formato legal correcto si desea que procesen su Es posible que haya un formulario que usted pueda usar para caso en Complaint, a copy of which will be furnished to you on request addressed to the attorneys for the Plaintiff at the above- la corte. Puede encontrar estos formularios de la corte y mas informacion su respuesta. en el Centro de Ayuda de las Cortes de California mentioned address. (www.courtinfo.ca.gov/selfhelp/espanol/), en la Si no biblioteca de leyes de su condado o en la corte que le quede mas cerca. puede pagar la cuota de presentacion, pida al secretario de la corte que le de Si no presenta su respuesta a un formulario de exencion de pago de cuotos. You are further advised that an individual who is unable to obtain an attorney may communicate with the New Jersey State tiempo, puede perder el caso por incumplimiento y la corte le podra quitar su sueldo, dinero y bienes sin mas advertencia. Bar Association by calling toll free 800-792-8315 (within New Jersey) or 609-394-1101 (from out of state). You may also Es Hay otros requisito legales. Si no conoce a un abogado, recommendable que llame a un abogado immediatamente. Si no puede pagar communicate with a Lawyer Referral Service, or if you cannot afford to pay an attorney you may call the Legal Services Offi ce. a un puede llamar a un servicio de remission a abogados. abogado, es possible que cumpla con los requisitos para obtener servicios Puede The phone numbers for the county in which this action is pending are: Legal Services (609) 695-6249, Lawyer Referral (609) legales gratuitos de un programa de servicios legales sin fi nes de lucro. encontrar estos grupos sin fi nes de lucro en el sitio web de California Legal Services, (www.lawhelpcalifornia.org), en el Centro de Ayuda de las Cortes de California, (www.courtinfo.ca.gov/selfhelp/espanol/), o 585-6200. poniendose en contacto con la corte o el colegio de abogados locales. Dated: April 12, 2011 The name and address of the court is: (El nombre y direccion de la corte es): ORANGE COUNTY SUPERIOR COURT, 700 CIVIC CENTER WEST, SANTA ANA, CA 92701. The name, address, and telephone number of the plaintiff’s attorney, or plaintiff without an attorney, is: (El nombre, Jennifer M. Perez la direccion y e numero de telefono del abogado del demandante, o de demandante que no tiene abogada, es): Amy E. Martinez, Esq. (SBN JENNIFER M. PEREZ 245871) GERACI LAW FIRM, 2302 Martin Street, Suite 410, Irvine CA January 11, 2011, Alan Carlson, Clerk (Secretario), by A. 92612, (949) Clerk of the Superior Court of New Jersey 379-2600. Rincon Deputy (Adjunto). Published May 2, 9, 16, 23, 2011 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page MAY 2, 2011 LOS ANGELES BUSINESS JOURNAL 39 BUSINESS MARKETPLACE FINANCIAL SERVICES REAL ESTATE SERVICES Got Vacancy? 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Insurance products are offered through Merrill Lynch Life Agency Inc., a licensed insurance agency and wholly owned subsidiary of Bank of America Corporation. © 2010 Merrill Lynch, Pierce, Fenner and Smith Incorporated. All rights reserved. 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 MAY 2, 2011 BUSINESS MARKETPLACE LEGAL SERVICES NEED BEING TO SUE? SUED? We’ll give you the power you need to win, and the personal attention you deserve. For 30 years we have successfully handled lawsuits in: • Breach of Contract • Real Estate • Business • Fraud • Personal Injury • Entertainment Contingency and Hourly Billing • Free Consultation “Bill’s bull-dog tenacity and superior litigation skills...resulted in my being fairly compensated for my half of the business.” Elliot M., CEO William Dickerman Dickerman & Associates Graduate of USC Law School Member, So. Cal. 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Email: [email protected] WEBSITE: RMPLAW.COM ALTITUDEAVIATION.COM Need a legal specialist? Get Noticed. To advertise your boutique law fi rm with highly Showcase your ad in the specialized law practices in the L.A. Law Guide, BUSINESS MARKETPLACE section of the Los Angeles Business Journal contact Rosz Murray at 323.549.5225 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 MAY 2, 2011 LOS ANGELES BUSINESS JOURNAL 41 Checking In Here’s a look at some of the local major hotel renovation projects. Westin Bonaventure Hotel & Suites Downtown Los Angeles The hotel is completing a $35 million renova- tion, including new carpet, light fixtures and curtains in guest rooms. The upgrades include improvements to meeting rooms, the lobby and other public spaces, as well as a redesign of lobby fountains and hotel entrances. Crowne Plaza Hotel Los Angeles International Airport LAX-Century Corridor The hotel spent about $3 million replacing the furniture, carpeting, wallpaper and ameni- ties in 240 of its rooms. It plans to spend $4.8 million to rehab the remaining 373. Four Points by Sheraton Los Angeles International Airport LAX-Century Corridor The hotel renovated its meeting spaces, pool area, restaurants and other public areas last year. Its 567 rooms are being updated with new furniture, bedding and amenities such as bathroom vanities. Omni Los Angeles Hotel Downtown Los Angeles The hotel spent $15 million on an overhaul of its 453 rooms, including new furniture, bedding and bathroom amenities. It also upgraded meet- ing spaces with new art and other additions, and redid the menu for its restaurant, Noe. Long Beach Marriott Long Beach The hotel spent $6.5 million last year over- hauling its 300 guest rooms, including new furniture, flat-panel LCD TVs, and iPod and iPhone docking stations. Workers are making $4.5 million in improvements to the hotel’s 6,000-square-foot grand ballroom and other meeting spaces. The upgrades include new lighting and sound systems, and the addition of a 1,700-square-foot courtyard attached to the ballroom. – Alexa Hyland RINGO H.W. CHIU/LABJ Makeover: From left, Omni Hotel Los Angeles’ Kathy Faulk and Chaya Donne in a renovated space at the downtown hotel. Hospitality: Hotels See Plenty of Rooms to Improve to try and be a part of this very interesting industry’s financial health, jumped 22 percent to While some hotel owners are pouring money Continued from page 1 dynamic that is now happening in downtown Los $117 from $96 for the same period. into freshening up their properties, others are Angeles,” she said. “The L.A. hotel market is definitely on the building new ones. summer and fall of 2008, that definitely pushed Other downtown hotels getting facelifts road back to recovery,” said Bruce Baltin, senior Santa Monica’s Shore Hotel, a 164-room, off the second phase until we got to a point here include the Westin Bonaventure Hotel & Suites, vice president in the downtown L.A. office of $62 million boutique hotel set to debut this sum- in spring of 2011 when we were able to green- which holds the No. 1 spot on the Business Jour- Colliers PKF. “The downturn in 2009 was very mer, is under construction on Ocean Avenue near light that project in its full capacity,” Robby said. nal’s list with 1,354 rooms. The Bonaventure is dramatic, and coming into 2010, there was a lot the Third Street Promenade and Santa Monica Hotels typically need to be renovated regular- investing $35 million in upgrading its meeting of pessimism as well. But 2010 turned out a lot Pier. It’s replacing the Pacific Sands Motel and ly due to wear and tear, but owners cut back on spaces, lobby and guest rooms; renovations are set better than people expected.” the Santa Monica Beach Travelodge, budget significant expenditures during the downturn, to be finished by the summer. The Los Angeles The industry doesn’t formally track renova- properties that were razed last year. according to Alan X. Reay, president at Irvine Marriott Downtown, No. 25 on the list, is plan- tions, but Baltin and Reay said they are seeing The Shore will include a meeting space, fit- consulting firm Atlas Hospitality Group. ning an overhaul of its public spaces more hotel renovations now. ness center and pool. Room rates are expected to “Hotels that should have done it three to four and 469 rooms that’s set to begin later start at $250 per night. years ago are now forced to do it,” Reay said. this year. PAGE 10 Fresh face Steve Farzam, whose family owned the two “Hotels typically need to be renovated every four There’s more development in the Beny Alagem pulls Hotels outside of downtown are motels since the late 1990s and will operate the to five years and there’s very little renovation works downtown, too. Plans were Beverly Hilton off getting upgrades as well. Shore, said he’s hoping the hotel will serve as a that’s gone on because people didn’t have the dis- announced last month for a 22-story, the market The 613-room Crowne Plaza middle ground to Santa Monica’s higher-price posable income.” 377-room hotel across the street from Hotel Los Angeles International luxury hotels and inexpensive motels. Downtown’s Omni Los Angeles Hotel, No. L.A. Live. It is to be operated under Airport, No. 12 on the list, spent $3 “You get the lower end or the higher end,” 27 on the Business Journal’s list, completed a the Residence Inn by Marriott and Courtyard by million on renovations. Farzam said. “We wanted to have a boutique hotel.” $15 million renovation last month. The last time Marriott flags. Michael Payton, general manager at the Colliers PKF’s Baltin said Santa Monica’s the Omni underwent a renovation of such size Meanwhile, Korean Air and downtown L.A.- Crowne Plaza, said the hotel undertook the hotel market is recovering as corporate and was when its current owner, TRT Holdings Inc. based developer Thomas Properties Group Inc. upgrades in an effort to keep its regular cus- leisure travelers are returning to the area, and the of Irving, Texas, purchased the property in 2000. are planning to demolish the Wilshire Grand tomers from staying at other hotels. Shore is likely to see good business as the region “Clearly when times are difficult, it’s difficult Los Angeles, No. 5 on the list, in 2012. The 900- “The market is so competitive,” Payton said. “So continues to rebound. for owners to invest back into their properties room hotel is set to be replaced with two high- we are doing it to maintain the business we have.” “It’s opening into a strong market,” Baltin because they are just trying to survive,” said rises with 650 hotel rooms and 100 luxury con- Four Points by Sheraton Los Angeles Inter- said. “And given how high the room rates are in Kathy Faulk, the Omni’s general manager. dos. national Airport, No. 16 on the list, is completing Santa Monica, the Shore will come off as a more Faulk said that the owners see a favorable The activity comes as the hotel market is a $12 million renovation. Local hotel and night- affordable alternative.” economic climate, adding that downtown’s ongo- showing signs of a strong rebound. Occupancy club owner Sam Nazarian took over operations of Farzam and others are also bullish on L.A.’s ing renaissance, led by last year’s opening of the rates in the county rose to 75 percent in February, the property in 2009, when the downturn took its hotel market. JW Marriott and Ritz-Carlton hotels at L.A. up from 69 percent in the same month last year, toll on his other hospitality ventures. The hotel is “A lot of owners are now more willing to put Live, is pushing other hoteliers to upgrade their according to the most recent data from San Fran- owned by Nazarian’s family. money back into their hotels because revenues are properties. cisco-based Colliers PKF Consulting USA. Rev- “The spending of money is a good sign,” said improving,” Reay said. “And it’s a huge endorse- “They are plugging back into their buildings enue per available room, a key metric of the Phil Baxter, general manager at Four Points. ment that the hotel market has rebounded.” 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page 42 LOS ANGELES BUSINESS JOURNAL MAY 2, 2011 Real Estate: Website Puts a Price on Small Spaces AuctionPoint.com, a commercial real estate Continued from page 1 auction website. Launched in late 2009, the self-service site caught on quickly in the indus- managers with better qualified leads.” try, spreading to more than 40 states and Ilagan and Pollack have company. Holly- receiving financial backing by LoopNet. wood-based HelpMeRentMagazine.com and Founder Joe Tang said the concept came to Marina del Rey-based AuctionPoint Inc. are him easily after he saw a need. also using the Internet to address what they see “We went to our brokerage team and asked as unmet demands in the commercial real them to run an auction. They looked at us like estate industry. we were from Mars,” Tang said. “And that’s They are members of a second generation when the light bulb came on.” of real estate tech startups. Today, the business has held several hun- Earlier, online companies such as Seattle- dred auctions, mostly for small properties, but based Zillow Inc., which offers residential home some sold for a few million dollars. The com- sales information, and San Francisco-based pany charges a flat fee of $395 per auction and LoopNet Inc., which mostly provides listings of takes between .5 percent and 2.25 percent of larger vacancies in commercial real estate, saw the total sale amount as its buyer’s fee. an opportunity to bring landlord and tenant, For now, at least, these efforts don’t appear owner and buyer, together through a website. as much of a threat to the traditional system in Indeed, LoopNet has been so successful in which brokers play a central role. After all, its model that Washington, D.C.-based CoStar most of the sales and leases are for small prop- Group Inc., the largest online commercial real erties that brokers don’t want anyway. estate information provider, announced last RINGO H.W. CHIU/LABJ But things could change in the future, said week it would purchase the publicly traded Thinking Small: Co-Founder Nicholas Ilagan at SuiteSearch’s Century City office. Richard Green, director of the USC Lusk Cen- company for $860 million in cash and stock. ter for Real Estate. make the commitment.” apartment seekers a fee to search residential “They may set up a new kind of business,” Virtual realty Ilagan and Pollack used savings to start vacancy listings. Green said. Within its first month, SuiteSearch has SuiteSearch. It’s free to office-seekers but “I have to reinvent the game. It’s not fair Still, for most big deals, buyers and sellers almost 50 listings for office spaces between 36 charges a monthly rate of one penny per square that people are paying $60 to look at vacancy tend to want a human to help. square feet and 142 square feet throughout foot for spaces that landlords post on the site. So listings,” said Koshet. “The real estate business is on tech over- Southern California. a 2,500 square foot listing costs $25 a month. HelpMeRentMagazine, which was sched- load,” said Whitley Collins, a broker at Chica- “The problem with these smaller office Meanwhile, HelpMeRentMagazine, a free uled to go live May 1, offers 32 free digital and go-based Jones Lang LaSalle Inc. “Now I requirements is that most brokers don’t want to site and magazine that advertises residential hard-copy magazines in 18 states. It generates think people are realizing our business is still a take the time to help somebody who is looking vacancy listings, is working on a similar com- revenue through ads and by charging landlords people business.” for one or two offices on a short-term basis,” mercial real estate listing service that will launch a monthly flat rate of about $10 per vacancy But Ilagan and Koshet are feeling positive. said Jeff Reinstein, chief executive of Premier nationwide this year. The site will be open to post. The company has received financing SuiteSearch is preparing to launch its services Business Centers, an Irvine-based property commercial landlords with any amount of space. from Hollywood-based Denley Investment in Dallas next year. HelpMeRentMagazine is management company that has listings on Founder Michael Koshet conceived the and Management Co., a real estate invest- looking forward to a fruitful year. SuiteSearch. “It’s a new website and time will company after growing frustrated with the ment company. “I think there’s a big revolution in commer- tell how many leads we get, but we want to website WestsideRentals.com, which charges These startups are following in the wake of cial real estate,” said SuiteSearch’s Pollack. Grocery: A Long Shelf Life for Chains, Union Fight? Bruce Greenwood, an L.A.-based senior Continued from page 1 vice president at Costco, agreed stores such as his benefited from the 2003-04 strike, but on very solid ground,” said Bill Bishop, of noted that Costco didn’t view it as a bonanza. retail consulting company Willard Bishop “It’s not something you want to see hap- Consulting in Barrington, Ill. pen,” said Greenwood. Still, Bishop said, a strike would harm both Faced with growing pressure from competi- stores and union workers. tors, supermarkets are not in the position to “If both groups pursue their individual make major concessions to the unions because interests, there’s a possibility that a strike will of the struggle to eke out profits, according to do damage to both,” he said. “The world has Shane Higgins, vice president of Deutsche changed, such that this is a lose-lose proposi- Bank Securities in New York, who covers tion for both parties.” Kroger, SuperValu and Safeway. The 62,000-member United Food and Profit margins have come down in recent Commercial Workers is in contract negotia- years for supermarkets, which he attributed to tions with Kroger Co., owner of Ralphs; Safe- intense competition from Costco and Wal-Mart. way Inc., owner of Vons; and SuperValu “Discounters have made pretty significant Inc., owner of Albertsons. market share gains,” said Higgins. “That’s dri- The last four-year contract expired March 6 and ving lower margins than traditional grocers the two sides have not settled on a new contract; the RINGO H.W. CHIU/LABJ have ever seen.” former contract is being extended on a day-to-day Labor Leader: Local 770 President Rick Icaza at a Ralphs store in Manhattan Beach. Losing customers during a strike, he said, basis. A large majority of union workers voted in means that stores must make large marketing mid-April to authorize leaders to strike. An average grocery union worker makes The 2003 strike lasted an unprecedented 141 and promotional investments to bring back Late last week, federal mediators stepped in $14 an hour, he said. That works out to less than days and cost the big three Southern California customers later. to help reach a settlement. $30,000 annually – leaving the union with little supermarket companies an estimated $2 billion. “It’s difficult for conventional grocers to On a conference call last week with ana- wiggle room to meet grocery store demands that Ralphs was forced to pay $70 million in compete against the nonunion guys,” he said. lysts, Safeway Chief Executive Steven Burd members pay an extra $30 a week toward health criminal fines and compensation because the “They’ve got to keep their pricing close to the said the authorization vote doesn’t mean that a premiums, according to Icaza. company had been accused of hiring as many competition.” strike is near. He did not speculate on what “We don’t want the stores to lose market as 1,000 union workers under fake names. Bartlett believes that supermarkets may be would happen if there were a strike. share,” he said. “But if we lose pension benefits in for a battle for their lives. “There’s no indication that we won’t reach or health care, we have no alternative. We’re not Big expansion “It’s a very efficient market,” he said. “If a settlement,” Burd said. going to allow them to take away our benefits.” After the battle, competitors made large you don’t perform well, then someone eats Bob Bartlett of Bartlett Joseph Associates, investments in Southern California. Trader Joe’s your lunch.” Ready to fight? a retail consulting firm in San Rafael, believes for example, expanded in Los Angeles County, Bartlett said he’s skeptical that consumers But the union doesn’t sound particularly the stores will stand their ground. opening stores in Hollywood, Rancho Palos will be as understanding in 2011 as they were conciliatory. “My guess is that the Ralphs and other Verdes, Woodland Hills and many other loca- eight years ago – and may just pass picket lines Rick Icaza, Local 770 president, who repre- supermarket chains will stand up to the unions tions, growing to 49 stores today. Similarly, to get good deals, or switch stores altogether. sents local grocery store workers, said his and say, ‘Not this time,’ ” said Bartlett. “ Whole Foods expanded from 13 stores in 2003 to “They won’t have a lot of sympathy for the union has “no alternative but to fight” to main- ‘We’ve reached the end of the road and you 18 today; Target now has 50 stores in Los Ange- people who are striking,” he said. “When tain pension and health care benefits. can’t get blood from a stone.’ ” les County with full grocery sections; British you’re down yourself and have that sinking Also, the union opposes the chains’ proposal With the proliferation of nonunion groceries, giant Tesco’s Fresh & Easy has 10 stores. feeling in your stomach and are living on a to extend retirement age from 60 to 65. Salaries he said, “I think the unions have overplayed What’s more, Gelson’s Markets, which has fixed income and not sure how to pay the bills, and increasing worker contributions to health their hand and jumped the shark. They may not 10 stores in the county, is not part of the negoti- I think you will be less and less sympathetic care plans are also among the issues, said Icaza. be able to overcome these market forces.” ations and would not be part of any strike. for people making those kind of demands.” 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page MAY 2, 2011 LOS ANGELES BUSINESS JOURNAL 43 WORKING CAPITAL. WORKING HARDER. 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Noel and Howard took their staffs to the club before it shuttered to “experience the elegance of times gone by,” according to Howard. 2. From left, Dave Harding, CB Richard Ellis senior vice president; Rich Bright, CB Richard Ellis senior managing director; and Los Angeles City Council- man Tom LaBonge; at the Valley Industry and Com- merce Association’s April 5 After Dark reception at the D’Cache Restaurant in Toluca Lake. 3. From left, LaBonge speaks with John Rodriguez, Billboard Connection outdoor media specialist. 4. From left, Dr. Jose Cervantes, assistant physi- cian in charge, and Dr. Tumani Leatherwood, physician in charge, at the April 11 grand open- ing of the Kaiser Permanente South Los Angeles Medical Office Building. 2 3 5. From left, Adrianne Zarnegin, Otis College of Art and Design scholarship program co-chairwoman; Hollywood costume designer Bob Mackie; Shelley Reid, Fox TV Studios senior vice president of legal and business affairs; and Eric Salo, Macerich Co. executive vice president; at Otis’ March 31 fundraiser at the Peninsula Beverly Hills hotel. 6. From left, former astronaut Buzz Aldrin, and Paul Montclare and Hayward Kaiser, Mitchell Silberberg & Knupp partners, at MSK’s April 10 cocktail party fundraiser for Same Sky at Kaiser’s Brentwood home. Same Sky provides job-training services for HIV-positive women survivors of the 1994 Rwandan genocide. 4 5 7. From left, Roopa Kothari with husband Shreedhar Kothari, Gumbiner Savett Inc. vice president, and Christina Marouda, Indian Film Festival of Los Angeles president, at the festival’s April 12 opening at the Arclight theater in Hollywood. 8. From left, Mary McDonnell, Entertainment Partners legal director; Shaun Morrison, Allen Matkins Leck Gamble Mallory & Natsis LLP office administrator; Rita Alli, Stoel Rives LLP director of business and professional development; Jean Jewell, White O’Connor Fink & Brenner LLP administrator; and David Teuber, 6 7 Afinety account executive; at the Greater Los Angeles Chapter of the Association of Legal Admin istrators’ April 12 Leadership Luncheon at the Omni Hotel in downtown Los Angeles. 9. From left, Sister Gerard Earls, St. Mary Medical Center vice president of mission integration; Evelyn Best and Joyce Murchison, Women’s Circle of Philanthropy members; Gail Daly, St. Mary chief operating officer; and U.S Rep. Laura Richardson, D-Long Beach, at the Feb. 24 grand opening of the Women’s Heart Center at St. Mary Medical Center in Long Beach. 8 9 L.A. Biz Seen publishes photographs of business-related events in Los Angeles, including parties, awards dinners, benefits and other celebrations. Please e-mail photographs to [email protected] with “photographs” in the subject line. Please include contact information. Compiled by Tom Hicks 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page MAY 2, 2011 INDEX LOS ANGELES BUSINESS JOURNAL 45 ‘I guess ‘I had a cheesy ‘I think I am a little I turned L.A.’ pickup line that too specific on JENNIFER BURKES, I tried on her in what I want, and AlderLaw PC, the quad and it there isn’t a lot of on eating sushi, didn’t work.’ room for input.’ PAGE 3 DAVID BURCHAM, GARNER GERSON, Loyola Marymount Basement Tavern, University, on being his own boss, on meeting his wife, PAGE 29 PAGE 16 PEOPLE Burkes, Jennifer ...... 3 Gunn, Greg ...... 30 McClaflin, Marie ...... 5 S C H McCourt, Frank ...... 12 Schieffer, Tom ...... 12 Mindel, Steven A...... 46 Selig, Bud ...... 12 A Carson, David ...... 3 Hanasab, Robin ...... 31 Cheney, Bill ...... 7 Hatch, Dan ...... 5 Moldvay, Caitlin ...... 6/7 Semino, Omid ...... 30 Achar, Chris K...... 26 Munzig, Judy ...... 8 Alagem, Beny ...... 10 Coleman, Victor ...... 36 Higgins, Shane ...... 1/42 Sheen, Charlie ...... 46 Aldisert, Ruggero ...... 14/16 Collins, Whitley ...... 1/42 Hunt, Casey ...... 30 N Siegel, Margo ...... 26 Husni, Samir ...... 3 Anderson, John ...... 4, 8 Crandall, Robert ...... 14/16 Nazarian, Sam ...... 1/41 Sinclair, James ...... 10 Cuban, Mark ...... 5 Anderson, Marion ...... 4, 8 I Newman, Richard ...... 12 Soboroff, Steve ...... 46 Nielsen, Leonora A...... 3 Anderson, Peter ...... 10 D Icaza, Rick ...... 1/42 Stanton, Lewis ...... 46 Andrews, Kacy ...... 5 Ilagan, Nicholas ...... 1/42 Davidson, Matt ...... 7 O Storch, Alex ...... 3 Asemanfar, Samira ...... 26 Dionisio, John ...... 12 J O'Connor, Michael ...... 5 T B E Jacobs, Nick ...... 27 Okita, Jeff ...... 28 Olian, Judy ...... 8 Tang, Joe ...... 1/42 Baltin, Bruce ...... 1/41 Eghbali, Mahyar Asher ...... 30 K Bartlett, Bob ...... 1/42 Tao, Alex ...... 28 F Keeling, Julian ...... 47 P Baumann, Max ...... 28 Tellem, Susan ...... 46 Farzam, Steve ...... 1/41 Kim, Tim ...... 31 Payton, Michael ...... 1/41 Baxter, Phil ...... 1/41 Tingus, Mike ...... 36 Faulk, Kathy ...... 1/41 Koshet, Michael ...... 1/42 Perez, John ...... 12 Begley Jr., Ed ...... 47 Fister, Alle ...... 27 Krannacker, Gary ...... 5 Petersen, Margie ...... 12 Tucker, Erica ...... 28 Belden, Trevor ...... 36 Pollack, Steve ...... 1/42 Berger, Adam ...... 6/7 G L W Port, Whitney ...... 29 Bertram, John ...... 36 Garvey, Marie ...... 10 Liberman, Greg ...... 6/7 Wagner, Todd ...... 5 Luskin, Meyer ...... 4 Birnkrant, Gloria ...... 46 Gerson, Garner ...... 25, 29 R Walerstein, Don ...... 4 Luskin, Renee ...... 4 Bishop, Bill ...... 1/42 Gleissner, Michael ...... 5 Rasoli, Reza ...... 30 White, Andy ...... 5 Reay, Alan X...... 1/41 Brown, Brad ...... 5 Green, Richard ...... 1/42 M Wolf, J ...... 27 Burcham, David ...... 14/16 Greenwood, Bruce ...... 1/42 Macker, Tim ...... 36 Robby, Michael ...... 1/41 Burd, Steve ...... 1/42 Griffin, Merv ...... 10 Mailman, Craig ...... 36 Roth, J.D...... 3 Z Burke, Michael ...... 12 Gunderson, Bill ...... 47 Mazirow, Arthur ...... 36 Rothstein, Rebecca ...... 46 Zolekhian, Raymond J...... 31 COMPANIES, CitizenLocal.com ...... 4 Gunderson Capital Management ...... 47 Margie and Robert E. T City National Corp...... 12 Petersen Foundation ...... 12 ASSOCIATIONS, ETC. H Target Corp...... 1/42 Coldwell Banker Margo Siegel Public Relations Inc...... 26 HDNet LLC ...... 5 Teledyne Technologies Inc...... 12 Commercial WestMac ...... 36 Mondrian Holdings LLC ...... 4 HelpMeRentMagazine.com ...... 1/42 Tellem Worldwide ...... 46 Colliers PKF Consulting USA ...... 1/41 Morgan Stanley ...... 36 A Hennigan Dorman LLP ...... 5 The Chill Group Inc...... 28 Advanced Development Consolidators International Inc...... 47 Morgan Stanley Smith Barney LLC . . . . .46 Henry's Farmers Markets ...... 1/42 Thomas Properties Group Inc...... 1/41 and Investment Inc...... 12 Continental Airlines Inc...... 14/16 MyLife.com Inc...... 4 Hilton Hotels Corp...... 10 THQ Inc...... 4 Aecom Technology Corp...... 12 CoStar Group Inc...... 1/42 Houlihan Lokey ...... 12 N Three Legged Legs ...... 30 Akin Gump Strauss Costco Wholesale Corp...... 1/42 National Credit Union Administration . . . .7 Hudson Pacific Properties Inc...... 4, 36 Toms Shoes Inc ...... 36 Hauer & Feld LLP ...... 5 Covenant Presbyterian Nevolution LLC ...... 4 I Topa Equities Ltd...... 8 AlderLaw PC ...... 3 Church Long Beach ...... 14/16 Northrop Grumman Corp...... 12, 47 IAC/InterActiveCorp...... 6/7 Alliance of Motion Picture Crowne Plaza LAX ...... 1/41 NSBN LLP ...... 46 Toyota Motor Corp...... 47 and Television Producers ...... 12 CSX Corp...... 47 J Trader Joe's Co...... 1/42 AMC Entertainment Inc...... 5 O D Jackoway Tyerman Wertheimer Austen TRT Holdings Inc...... 1/41 American Airlines Inc...... 14/16 Oasis West Realty LLC ...... 10 Dealometer Inc...... 4 Mandelbaum Morris & Klein LLP ...... 5 TrustyMax Tools ...... 31 American Apparel Inc...... 12 Occidental College ...... 14/16 Dechert LLP ...... 5 JMB Realty Corp...... 12 Anderson & Associates ...... 10 Occidental Petroleum Corp...... 12, 47 U Dejant Group Corp...... 30 Jones Lang LaSalle Inc...... 1/42 Arc Brand Marketing ...... 5 Omni Los Angeles Hotel ...... 1/41 U.S. Supreme Court ...... 14/16 Deutsche Bank Group ...... 1/42 JW Marriott at L.A. Live ...... 1/41 Arden Realty Inc ...... 36 OnSite Consulting ...... 10 UCLA Anderson Dewey & LeBoeuf LLP ...... 5 AuctionPoint Inc ...... 1/42 K Orrick Herrington & Sutcliffe LLP ...... 5 School of Management ...... 8 Digital Room Inc...... 6/7 Avery Dennison Corp...... 12 Karney Management Co...... 36 DirecTV ...... 5 P University of California Los Angeles . . . . .8 KCET-TV ...... 12 Pebblebrook Hotel Trust ...... 4 B Divya Wines ...... 26 US Airways Group Inc...... 14/16 Kelley Drye & Warren LLP ...... 5 Petersen Automotive Museum ...... 12 Bang & Olufsen ...... 3 DreamWorks Animation SKG Inc...... 12 Kelley Drye/White O'Connor ...... 5 V Bank of America Merrill Lynch ...... 36 R E Kern Schools Federal Credit Union ...... 7 ValueClick Inc...... 4 Barclays Capital ...... 36 ReachLocal Inc...... 12 East West Bancorp Inc...... 12 KeyBank Capital Markets Inc...... 36 Venable LLP ...... 5 Barnes & Thornburg LLP ...... 5 Regal Entertainment Group ...... 5 EHarmony Inc...... 6/7 Korean Air Lines Co. Ltd...... 1/41 Vertrue Inc...... 6/7 Basement Tavern ...... 25, 29 Reliance Steel & Aluminum Co...... 12 Essentia Equity ...... 12 Kroger Co...... 1/42 Bellacures Corp...... 26 Rhythm & Hues Studios Inc...... 36 W Bellacures Franchising LLC ...... 26 F L Ritz-Carlton Wal-Mart Stores Inc...... 1/42 Landmark Theaters ...... 5 Bigfoot Crest Theatre ...... 5 Farallon Capital Management Inc...... 36 Los Angeles at L.A. Live ...... 1/41 Walt Disney Co...... 47 Federal Reserve ...... 7 Lee & Associates- LA Bigfoot Entertainment Inc...... 5 Rohner & Walerstein Law Corp...... 4 Wells Fargo Securities ...... 36 Bollare Inc...... 27 Feinberg Mindel North/Ventura Inc...... 36 S Western Bridge Brown Entertainment Group ...... 5 Brandt & Klein LLP ...... 46 Long Beach Marriott ...... 1/41 Safeway Inc...... 1/42 Corporate Federal Credit Union ...... 7 Buddy Carr Skateboards ...... 3 Four Points by Sheraton LAX ...... 1/41 LoopNet Inc...... 1/42 Shore Hotel ...... 1/41 Los Angeles Dodgers ...... 12 Westin Bonaventure Hotel & Suites . . .1/41 C G Six Taste ...... 28 Los Angeles Marriott Downtown . . . . .1/41 White O'Connor California Credit Union League ...... 7 Games Workshop ...... 4 Skechers USA Inc...... 12 Los Angeles Orthopaedic Hospital ...... 4 Fink & Brenner LLP ...... 5 Carmike Cinemas Inc...... 5 General Electric Co...... 36 Southern California Edison ...... 47 Loyola Marymount University ...... 14/16 Whitney Eve ...... 29 Carson Magazine ...... 3 Genesis Life Sciences ...... 26 Spark Networks Inc...... 6/7 Caterpillar Inc...... 47 Gibson Dunn & Crutcher LLP ...... 14/16 M Stanton Associates LLC ...... 46 Whole Foods Market IP LP ...... 1/42 CB Richard Ellis Group Inc...... 12 Glendon Concepts LLC ...... 27 Magnolia Pictures ...... 5 SuiteSearch North America Inc...... 1/42 Wilshire Bancorp Inc...... 12 CBS Broadcasting Inc...... 5 Golar LNG ...... 47 Major Lindsey & Africa ...... 5 SuperValu Inc...... 1/42 Wilshire Grand Los Angeles ...... 1/41 Church of Scientology ...... 12 Greystripe Inc...... 4 Malibu Café ...... 25, 28 Sweet E's Bake Shop ...... 28 Writers Guild of America ...... 12 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 MAY 2, 2011 LOS ANGELES BUSINESS JOURNAL ® Why We Can’t See Housing Recovery 5700 WILSHIRE BLVD., SUITE 170, LOS ANGELES, CA 90036 F you’re looking for a recovery in the housing which means middle-class and upper-income each month. The median price this March was the (323) 549-5225 FAX 549-5255 market, get a magnifying glass. It’s that hard homeowners have much of their net worth tied up same $330,000. www.labusinessjournal.com to find. in their homes. Wall Streeters get their sense of In other words, prices should be going up by now, I PUBLISHER & CEO Just look at last week’s Case/Shiller Home financial well-being from stock market indexes and but they’ve been stuck for nearly two years. What’s MATTHEW A. TOLEDO Price Index report. House prices in farmers get theirs from commodity more, there’s evidence from other surveys that prices [email protected] | ext. 207 February nationwide were down 1.1 prices. But Angelenos get theirs from are weakening anew, as noted at the beginning. And, percent from the month before. And home prices. according to the Business Journal’s numbers, home EDITOR CHARLES CRUMPLEY compared with the same month the Now we all know why residential prices each month so far this year in Los Angeles [email protected] | ext. 208 year before, house prices were down real estate crashed. Prices got way too have been lower than the same month last year. DESIGN DIRECTOR 2.6 percent or 3.3 percent, depending high – out of whack with all metrics – What’s happened to so distort the house-price ROBERT LANDRY [email protected] | ext. 243 on which index you look at. and they needed to come way down. cycle in the past two years? The main influence in the MANAGING EDITOR Los Angeles didn’t fare much bet- That’s the price cycle. But the ques- market during that time was the federal housing stim- LAURENCE DARMIENTO ter. Prices in February were down 1 tion today is the same one we ask ulus plan. The centerpiece was the $8,000 tax credit [email protected] | ext. 200 percent from the month before and about Charlie Sheen: Shouldn’t we be for first-time homebuyers, which expired a year ago. DEPUTY MANAGING EDITOR STEVE SILKIN down 2.1 percent from a year earlier. seeing some improvement by now? Critics warned that the stimulus would mess up [email protected] | ext. 229 Maybe it’s not a magnifying glass COMMENT Yes, we should. Residential real the price cycle. It would artificially buoy the mar- NEWSDESK EDITOR TOM HICKS you’ll need. Maybe it’s a microscope. estate crashes typically run less than ket, preventing prices from dropping to their natur- [email protected] | ext. 223 In the official announcement, the two years, but this one has been going al low, delaying the day of reckoning, dragging out CHARLES REPORTERS chairman of the Case/Shiller index said, on nearly four. the cycle. It appears the critics were right. SAM BENNETT “There is very little, if any, good news CRUMPLEY According to HomeData, which We should be well into a house-price recovery by [email protected] | ext. 263 RICHARD CLOUGH about housing. Prices continue to weak- tracks prices for the Business Journal, now. Instead, we may have yet to see the depth of the [email protected] | ext. 251 en, trends in sales and construction are disappointing.” the median sale price of a home in Los Angeles market. Oh, and we have billions of dollars added to DEBORAH CROWE Even though the overall economy seems to be County hit a peak of $585,000 in May and again in the federal debt, thanks to the cost of the stimulus. [email protected] | ext. 232 HOWARD FINE gradually, if reluctantly, going up, with stronger July of 2007. Prices fell to a trough of $303,000 in Who knows when the market will truly recov- [email protected] | ext. 227 corporate earnings and a buoyant stock market, April 2009. That’s less than two years from peak to er? Let’s just hope that it’s not so far off that it’s a GREG HERNANDEZ house prices are going down. Confidence in the trough – normal, no? telescope instead of a microscope that we’ll need [email protected] | ext. 226 ALEXA HYLAND housing market is sinking faster than Steve Sobo- Well, yeah, except look at what’s happened to see it. [email protected] | ext. 235 roff’s reputation. since. Three months after the trough – in July ’09 – ALFRED LEE I don’t need to tell you that house prices are the median price here had climbed a bit to Charles Crumpley is editor of the [email protected] | ext. 221 NATALIE JARVEY particularly important for Los Angeles. Residential $330,000. And it’s at that level where the price has Business Journal. He can be reached at [email protected] | ext. 230 prices here are among the highest in the country, been stuck since, going up a little or down a little [email protected]. JOEL RUSSELL [email protected] | ext. 237 JACQUELYN RYAN [email protected] | ext. 228 VISITING FELLOW LABJ FORUM HEEJIN PARK [email protected] | ext. 241 CHIEF EDITORIAL PHOTOGRAPHER Is it smart to start a RINGO H.W. CHIU In this issue’s Special Report (page 25), the Business Journal spotlights [email protected] | ext. 256 company when First Years 20 entrepreneurs in their 20s, and asks them about the advantages and RESEARCH DIRECTOR drawbacks of starting a business so young. So the Business Journal asks: you’re in your 20s? DAVID NUSBAUM [email protected] | ext. 236 EDITORIAL ASSISTANT Best Years JONATHAN POLAKOFF [email protected] | ext. 239 VICE PRESIDENT OF ADVERTISING REBECCA ROTHSTEIN GLORIA BIRNKRANT family responsibilities. You can experiment and JOSH SCHIMMELS [email protected] | ext. 218 Managing Director Partner not really have to really worry about what may be ASSOCIATE SALES MANAGER Morgan Stanley Smith Barney LLC NSBN LLP down the road. DARRIN SENNOTT From a financial advising The time to start a business could be when you [email protected] | ext. 220 ADVERTISING ACCOUNT perspective, a lot of factors are 20 or 50. It’s when you think your business LEWIS STANTON MANAGERS come into play other than age. meets a need that is not being met by another com- Managing Partner JESSICA ANNAS For example, how much debt pany. But if you don’t have the experience or Stanton Associates LLC [email protected] | ext. 240 MICHELLE GIUNTA are you taking on to start your knowledge necessary, be sure to get the support Being twenty-something is [email protected] | ext. 214 business? How would the busi- and talent you need. a great time to take a risk. If MICHAEL KOSASKY ness impact your long-term you don’t need a paycheck for [email protected] | ext. 253 BILL MOIR financial plan, especially if it’s SUSAN TELLEM 12 months, go for it. As a [email protected] | ext. 216 unsuccessful? Thoughtful Partner business consultant, I empha- ROSZ MURRAY Rothstein answers to those questions Tellem Worldwide size having a written business [email protected] | ext. 215 JIM SLATER would probably be more telling than your age. If the entrepreneurial spirit is there in your 20s, plan and running it by people [email protected] | ext. 209 you should take advantage of it. It may be one of you trust. SPECIAL EVENTS/ STEVEN A. MINDEL the best times to start a business. When you’re ADVERTISING COORDINATOR Stanton MARISSA DE LA CRUZ Managing Partner young, you’re tireless and in general don’t have [email protected] | ext. 213 Feinberg Mindel Brandt & Klein LLP PRODUCTION ARTISTS It is amazing to start a business when you are in SALLY FOSTER your 20s. Youth defines creativity, imagination and [email protected] | ext. 212 PATTY TSAI-CHU innovation. Your opportunity cost is at its lowest. It [email protected] | ext. 242 is the best time in your life to go out on a limb and CIRCULATION DIRECTOR take a risk. MICHAEL LEVINE [email protected] | ext. 247 CUSTOMER SERVICE LE MILLHAUSER [email protected] | ext. 245 Los Angeles Business Journal Poll ZAINABU BRYANT [email protected] | ext. 244 Is it smart to start a company when you’re in your 20s? CONTROLLER NANCY SCHWARTZ [email protected] | ext. 202 ACCOUNTS RECEIVABLE SPECIALIST PATRICIA A. BENSON [email protected] | ext. 231 74% ASSISTANT TO THE PUBLISHER BETH THERIAC [email protected] | ext. 249 26% PAUL KNEZEVIC [email protected] | ext. 203 No, you RECEPTIONIST Yes, that’s ERIN SCHAUER when you can need more [email protected] | ext. 270 take the risk and put experience in the hours CITY BUSINESS JOURNALS Online results for week ended April 27 NETWORK 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page MAY 2, 2011 COMMENTARY LOS ANGELES BUSINESS JOURNAL 47 Coming Clean on Green Backers of eco-conscious businesses should stop the hot air about the companies’ profitability. By BILL GUNDERSON Little noted in the OS Angeles has the people and the climate to be a world- green frenzy of the class leader for clean tech companies. last few years are the L So it should be easy to name one green energy com- pany from Los Angeles that makes money for its shareholders. companies that drill, I’m waiting. pump or mine for oil, There isn’t one. natural gas or coal: It is not just Los Angeles. Green energy companies all over the country are creating a lot more press than profits. And it will They are making get worse before – if ever – it gets better. money. They never That is not what most of us heard from the streets and media stopped – even during of Los Angeles recently. Thousands of people were in town for the financial tsunami. an alternative energy conference whose main message was Their stocks “Time to invest in green tech.” I will save you the trouble: If you are thinking about buying reflect that. green energy stocks, don’t. Not if you need the money for retirement, college or any- thing besides impressing your friends with good intentions. Most people touting new energy products at the green gath- ering were probably unaware that Los Angeles is one of the Field Operative: An oil refinery in Wilmington. most energy-rich areas in the country. Los Angeles was into oil when oil was alternative energy. Many of the great cultural and educational institutions of this information about how to value a share of stock: We can listen fied natural gas. Its stock is up 55 percent in three years. area were built with the profits from oil stocks. Getty, anyone? to what the company says. Or watch what it does. And they are doing so despite one of the most challenging The oil fields of Wilmington contain at least 3 billion barrels If you choose the former, you probably like all the pretty regulatory environments any business can imagine. of oil – the third largest field in the country. And they are just pictures of windmills and solar panels featured so prominently Now compare that to two alternative energy funds that are one of 50 oil fields in the area. There may be many more con- in so many television commercials about green energy. Maybe investing in the best of the best: TAN and FAN. They went taining many more billions of barrels of oil. you own a few shares of the company that makes Ed Begley public three years ago and have since gone down 30 percent But we will never know as long as large portions of Los Ange- Jr.’s solar-powered toaster. and 27 percent, respectively. While the market in the same peri- les remain off-limits to companies that want to explore for oil. No amount of subsidies or green happy talk can change this od is down 1 percent. Owners of oil rigs feel they need to disguise their wells. That fact: Energy from solar still costs 22 cents a kilowatt hour. Coal It is not in the least political to say our leaders in Washing- is how bad it is. costs 6 cents. ton are losing their appetite for – and ability to – heap subsi- But oil companies like L.A.-based Occidental Petroleum Prospects are not profits. Talking is not doing. Betting on dies on expensive energy while ignoring abundant domestic Corp. cannot disguise their energy profits. Over the last 10 prospects is gambling. Betting on performance is investing. supplies – like good, old-fashioned L.A. black gold – in times years, total returns have averaged 25 percent a year. This far Little noted in the green frenzy of the last few years are the of record scarcity. outperforms other stocks of such iconic L.A. companies as the companies that drill, pump or mine for oil, natural gas or coal: Already, some big funds are getting out of green energy Walt Disney Co., whose 4 percent average return over 10 years They are making money. They never stopped – even during the because investors want something that actually makes money. has left some investors wondering if it should be drilling for oil financial tsunami. Their stocks reflect that. So should you. instead of making movies. What they say is not that sexy. What they do is. CSX makes Northrop Grumman, SoCal Edison: Their story is the same – money running railroads. Its stock is up 40 percent in three Bill Gunderson owns Gunderson Capital Management in good companies with average stocks. years. Caterpillar makes money building trucks. Its stock is up Oceanside. He also hosts a show on KCEO-AM (1000) about People in the investment business only have two sources of 50 percent in three years. Golar makes money carrying lique- investing and is the author of “The Best Stocks Now!” Pipeline Needs Some Breathing Room, Just in Case By JULIAN KEELING the talk about global warming, last winter in the Northeast and ment rather than dividing it into many shipments of 1,000 tons Midwest as well as in Europe was one of the coldest on record. each. A single shipment minimizes loss or delays, so often the APAN’S horrific earthquake in which industry was almost With a massive volcanic eruption in Iceland adding to trans- case with multiple shipments. completely shut down. The less powerful but still destruc- portation’s woes, thousands of flights were canceled with hun- The advantage of JIC goes beyond overcoming today’s nat- J tive earthquake in New Zealand a few weeks earlier. Tur- dreds of thousands of pounds of high-value freight sitting on ural and human upheavals. These advantages replace a number moil in the Middle East. Extremely cold winters in the United airport tarmacs. of JIT’s shortcomings. With JIT, enormous stress develops States and Europe. “Slow steaming” on the world’s shipping along every link in the supply chain. The get it “fastest with the lanes. Reductions or elimination of all-freighter flights. A Rolling the dice mostest” mentality produces extreme pressures that can lead to severe shortage of truck drivers. The successful application of JIT demands no break in any costly mistakes. Documents may contain uncaught errors, lead- These are among the formidable obstacles faced today by link of the supply chain. Ships, airplanes and trucks must arrive ing to unsympathetic customs inspectors turning back the the $68 billion transportation industry in the L.A. area. And no with their cargo within a very precise, predetermined period of freight. Physical damage to cargo may result by loading or delivery system is so exposed to these negative developments as time – even as little as a few hours before the cargo is needed unloading too quickly. the Just-In-Time method of moving goods into and out of on assembly lines and at distribution centers. With JIT, a ship- JIC would benefit freight-forwarders like my business, but it Southern California’s ports and airports. per is rolling the dice with his freight, assuming a seven will would result in a measured decline in stress for everyone After it was introduced in the early 1980s by (ironically) come up every time. The odds are lengthening that it will not. involved in the shipping process. With more time, mistakes are Toyota to speed up deliveries of components for its auto facto- With horrific natural and man-made events occurring this more easily avoided. ries, JIT quickly spread to other industries. It was a shipper’s past year, questions must arise as to the value of JIT. Thousands An indirect, but important benefit in utilizing JIC is the gain dream come true. of dollars indeed may be saved in lower inventory costs, but in inventory. With added inventory, the U.S. economy should Under JIT, inventory could be reduced to a bare minimum, millions can vanish with a shutdown of assembly lines or lack continue to strengthen as manufacturers and distributors spend saving substantial money in inventory costs while at the same of goods to distribute. The extreme claims of JIT proponents billions to restock their inventories. time increasing production efficiency. Little wonder that JIT must be taken with even greater doses of salt. In today’s world, Just-In-Case is a practical, realistic and became the standard logistics system for air and sea transporta- At stake are billions of dollars spent annually by shippers, efficient successor to Just-In-Time – fair to the shipper and fair tion at many companies headquartered in the L.A. area. carriers and their agents who transport their merchandise to the forwarder. Global political, economic and social conditions, however, through the ports of Los Angeles and Long Beach, and at the With adequate amounts of inventory sitting securely next to have changed not incrementally but fundamentally in the 25 Los Angeles International Airport. the assembly line or within the distribution warehouse, JIC years since Japanese auto plants began receiving parts under a I believe there is a better way for L.A. shippers with global eliminates almost completely the nightmare of no parts or sup- JIT system. We no longer live in a sane and peaceful world. manufacturing and distribution operations to successfully meet plies when they are needed most. Who would have thought that the Egyptian government, seem- the transportation challenges of today’s unstable world. I think Just-In-Case allows the traffic manager to sleep more sound- ingly as immovable as the Pyramids, would be overthrown in of it as a fresh breeze blowing through our world of logistics. ly at night. less than two weeks? Or some citizens of oil-rich Libya, with a Let’s call that fresh breeze Just-In-Case or JIC. dictator for life and no history of free expression, embracing Just-In-Case means moving freight via land, sea or air a Julian Keeling is chief executive at Consolidators International democracy almost overnight? number of days earlier than under JIT in order to build up Inc., a freight-forwarding firm near Los Angeles International Even nature seems to be conspiring against us. Despite all inventory. It means moving 10,000 tons of cargo in one ship- Airport. Page Next Next Out Out Zoom Zoom In MAY 2, 2011 MAY Zoom Zoom Page Page Previous Previous Contents of Table Table | Page Page WE MADE SURE THIS DIDN’T. THIS WE MADE SURE Front Front | Guide Guide User User LABJ LABJ | Thumbnails Thumbnails A LOT OF THINGS CAN HAPPEN IN A MAJOR STORM. IN A MAJOR HAPPEN CAN OF THINGS A LOT COMMERCIAL AUTO COMMERCIAL View View PROPERTY PROPERTY When our customer’s frozen seafood warehouse was hit by a major storm, it sustained significant seafood warehouse was hit by frozen When our customer’s that depend but the restaurants Jeopardizing not only the inventory, roof damage and lost power. impact, our claims experts were on it. So while other companies still assessing the storm’s were already arranging for repairs preserve and securing trucks to refrigerated plus fuel, the fish. claims in a timely fashion, your informed, or paying you keeping responding quickly, Whether it’s our and after business before That’s adversity committed your protect strikes. helping you to we’re or visit libertymutualgroup.com/property. more information, or agent contact For broker your policy. © 2010 Liberty Mutual Group. LIABILITY COMPENSATION WORKERS Page Page Single Single LOS ANGELES BUSINESS JOURNAL BUSINESS 48 LOS ANGELES Spread Spread 2-Page 2-Page 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 | 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. 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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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ouch table of content teaser will jump directly to the page of the story. 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 | NAVIGATION TOOLBAR 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. 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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. 1 2 345678 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 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 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.