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labusinessjournal.com LOS ANGELES BUSINESS JOURNAL Volume 33, Number 6 THE COMMUNITY OF BUSINESSTM February 7 - 13, 2011 • $3.00 Up Herbalife Heir Makes a Case for $400 Million Trust But in the decade since the death, Mark’s divorced will pursue his mother’s legal actions against the trustees. Front LEGAL: 19-year-old and his mom wife, Suzan, has fought to get more money from the Last month, he applied for an order to have the trustees look to take control from trustees. estate. Since she’s gotten little, in her view, she’s suspended for allegedly misappropriating money. waged a multimillion-dollar legal battle to replace the Conrad Lee Klein, one of the three trustees, said the By ALFRED LEE Staff Reporter trustees charged with overseeing her son’s money. actions indicate there’s no end in sight for the dispute, Trustees hoped that the battle would stop or slow which has dragged on since 2002. He estimated each Ever since he was in grade school, Alex Hughes has when Alex became a legal adult at 18. But now 19, he side has spent more than $10 million in legal fees. been at the center of one of L.A.’s most contentious battles. appears to have joined his mother and renewed the “It’s no more pleasant now than it was before,” said Alex was only 8 in 2000 when his father, Herbal- fight, reinforcing its status as one of the county’s Klein, a solo practitioner who was personal counsel to ife founder Mark Hughes, died and left a $400 million largest, longest and most bitter trust and estate cases. trust for his only son to inherit at 35. In December, Alex filed documents affirming that he Please see LEGAL page 34 How cardiologist John Kennedy is selling his prescription for better breathing. PAGE 3 Sink or News & Analysis Swim? L.A. port plans may torpedo Terminal Island’s Fish Harbor. By DAVID HALDANE Staff Reporter

David Farnworth ORNINGS are busy at Terminal Island’s Fish Harbor. is expanding his The day begins around 4:30 a.m. when the first boats pub chain despite Marrive at dockside processing plants, where apron-clad debilitating illness. workers unload, sort and pack the night’s squirming catch. PAGE 5 At midday, dozens of other boats motor in. Many are owned by Vietnamese immigrants who sell such delica-  Workers sort cies as slime eel directly to restaurants and bro- sardines at kers. By sunset, most fishermen are back at sea. People Fish Harbor. All told, about 80 boats do business at this little waterfront corner of the Port of Los Angeles. That may sound sizable, but it’s just a fraction of the 300 vessels that serviced what was once the West Coast’s largest cannery row. Now, even these survivors feel their days are numbered. Under pressure to provide more space for containers and

Please see FISHING page 36

RINGO H.W. CHIU/LABJ

Airline chief Joe Czyzyk is set to Tax Woes Build in Big Credit Unions take off as head of L.A. chamber. Enterprise Zones Banking Again on PAGE 14 GOVERNMENT: State may Real Estate Loans erase companies’ unused credits. MAIL TO: By RICHARD CLOUGH Staff Reporter By HOWARD FINE Staff Reporter Local credit unions are beginning to return to com- Not only does Gov. Jerry Brown want to elimi- mercial real estate lending, a business line that was all nate enterprise zones, he wants to kill more than $900 but abandoned by many lenders during the recession. RINGO H.W. CHIU/LABJ million in tax credits that have been banked by thou- Left Holding the Bag?: Crown Poly’s Browne. Lockheed Federal Credit Union, the second sands of companies in California – including hun- largest credit union in Los Angeles County, began dreds in Los Angeles County’s eight enterprise zones. “We specifically located in an enterprise zone so offering commercial real estate loans last week for the Among them is Crown Poly Inc., a maker of we could hire people and receive the tax credits,” first time since 2006. The move comes just months plastic grocery bags. The company moved from said Crown Poly General Manager Cathy Browne. after Kinecta Federal Credit Union, the largest, Vernon to an enterprise zone in Huntington Park “We go out and hire people, and we should get the resumed real estate lending after a yearlong hiatus. four years ago; since then, the company has added credits that are owed us for hiring those people.” While many commercial banks remain hesitant to 110 workers and accumulated more than $900,000 Browne is worried that the company would have expand their loan portfolios due to regulatory pressures in tax credits. Now that its tax bill may zoom up, Crown Poly has put its hiring plans on hold. Please see GOVERNMENT page 35 Please see LENDING page 34

Real World Insight for Middle Market Companies

www.gscpa.com 310.828.9798 Thumbnails LABJ User Guide Front Page Table of Content

2 LOS ANGELES BUSINESS JOURNAL FEBRUARY 7, 2011

LOS ANGELES BUSINESS JOURNAL®

FEBRUARY 7 - 13, 2011 VOLUME 33, NUMBER 6

RINGO H.W. CHIU/LABJ Page 12: Susan and Jim Morris at JCL Barricade in downtown Los Angeles.

ON THE COVER PROFILE

FISHING – Port of L.A.’s plans for Terminal NICHE – Traffic control services firm JCL Island may force local fishermen to weigh Barricade looks to make inroads in industries anchor. beyond the movie business...... 12 GOVERNMENT – Gov. Jerry Brown’s call to kill enterprise zones could cost local PEOPLE businesses their stockpiled tax credits. INTERVIEW – Mercury Air CEO Joe LENDING – Some of L.A.’s biggest credit Czyzyk uses the word “fly” even when he’s unions are ready to check back into fishing...... 14 commercial real estate lending. LEGAL – 19-year-old Herbalife heir Alex Hughes doesn’t seem willing to wait until THE LIST he’s 35 to tap his $400 million trust. RANKING – The 25 biggest business improvement districts in Los Angeles County, UP FRONT ranked by 2011 budgets...... 18 The 20 biggest securities brokerage firms in HEALTH CARE – A Marina del Rey Los Angeles County, ranked by full-time Bringing your global accounting needs cardiologist wants workers to take his registered brokers in the county...... 19 stress-reduction program to heart...... 3 togetherinover100countries. SPORTS – Burbank investment firm was INVESTMENTS & FINANCE willing to jump through hoops to take over the Harlem Globetrotters...... 3 Columns & features – Econowatch 21, TECH – Twitter-based business thinks it LABJ Stock Index 22 may finally have a handle on the company name...... 3 REAL ESTATE Columns & features – Page 3, Regional Report 4 HOUSING – January threw a chill into the Los Angeles County home market as prices fell and sales slowed...... 25 NEWS & ANALYSIS CHART – A list of January home and condo HOSPITALITY – Pub chain Lucky sales by neighborhood...... 25 Baldwin’s continues to move forward even Columns & features – Real Estate as its co-owner copes with a serious Column 29 degenerative disease...... 5 INTERNET – Online auctioneer Bidz.com COMMENTARY has investors calling out for more...... 5 COMMENT – Charles Crumpley believes APPAREL – American Apparel is trying on a enterprise zone businesses are getting a raw new management structure as it looks to deal from Gov. Jerry Brown...... 38 revive slumping sales...... 6 GOVERNMENT – Beverly Hills BANKING – Analysts are talking rebound as Councilman John Mirisch rips medical earnings of most local banks bounced even building landlords for wanting the city to pay Access to professionals with on-the-ground knowledge of local regulations, higher last quarter...... 7 for their parking...... 39 language and culture. Responsiveness, thoughtful recommendations, MANUFACTURING – A New York equity EDUCATION – It’s business that will and partner accessibility. That’s the hallmark of Grant Thornton. firm thinks it has better fits for Pasadena pipe ultimately pay the price for poorly educated Contact Joel Anik, SoCal Managing Partner, at 213.596.3484 or maker’s board...... 8 workers, warn Gary Mangiofico and Bill [email protected]. Visit us at GrantThornton.com. Columns & features – Media Watch 8, Allen...... 39 News of the Week 10 Columns & features – LABJ Forum 38

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FEBRUARY 7, 2011 UP FRONT LOS ANGELES BUSINESS JOURNAL 3

Scoot: Equity Fund Globetrotter Scooter Has a Ball Christensen With Hoops fends off a General. Shamrock sees stake in Globetrotters as a slam-dunk investment. When the Harlem Globe- trotters visit Staples Center on Feb. 27, the team won’t just be passing through town. Here’s a little known fact: It will actually be on a home stand … of sorts. Shamrock partner. “We saw a and 130 international appear- The iconic trick-shot mak- real opportunity.” ances. (The Globetrotters are ers and basketball clowns have So with headliners like actually two or three teams been majority owned by Meadowlark Lemon and that can play simultaneously in Shamrock Capital Partners Curly Neal long retired, what multiple locations.) since the Burbank private equi- has Shamrock done? Shamrock also has reached ty fund purchased an 80 percent For one, it’s introduced new sponsorship agreements with stake in the team five years ago. elements to its show, including brands such as Spalding, Russell Since then, Shamrock has a penalty box for players Athletic and Campbell’s Soup. sought to inject some life into pulling particularly outrageous And it has licensed the Globe- a lagging franchise that went stunts and a four-point shot 35 trotters name for apparel, novelty bankrupt in 1993 and was in feet away from the basket. The items and even Halloween cos-

RINGO H.W. CHIU/LABJ its heyday before dunk artists show also is rescripted annual- tumes. The result has been high- Doctor’s In: John Kennedy with his stress-reduction CD at Marina del Rey Hospital. like Julius Erving trans- ly so fans won’t get bored, er operating profit, but Shamrock formed pro hoops – stealing though one thing hasn’t isn’t heading for the exits. Kennedy said he devel- panies, which often contribute some of the Globetrotters’ changed: The Washington “There are no plans to sell Taking oped the technique after run- significantly to their employ- flash in the process. Generals still lose every game. now,” said Globetrotters A Breather ning a cardiac laboratory in ees’ stress levels. “When we were first look- The innovation apparently Chief Executive Kurt Schnei- Northern California and see- “Companies understand ing at the opportunity five has paid off. The team set box der. “We are trying to return At Work ing how patients would drive that workplace stress has a years ago, we saw a cherished office records in 72 local mar- the brand to its rightful place themselves into a frenzy huge impact and that a brand with an 80-year histo- kets last year, and is scheduled in pop culture.” Doctor says program while waiting to take their healthy workplace equals a ry,” said Mike LaSalle, a this year to make 274 domestic – David Nusbaum to reduce stress helps tests, adversely affecting the healthy business,” he said. employee performance. results. He began researching Kennedy’s protocol has the relationship between not been subject to clinical the company expanded the Chadima acknowledged that Dr. John Kennedy doesn’t stress and heart attacks after trials. But Minneapolis- Startup app to include Facebook and changing names twice in one want employees to have heart seeing startlingly better results based medical device giant Name Game LinkedIn posts, so it changed year has made things a bit diffi- attacks – and he claims to for tests and procedures after Medtronic Inc. was con- the name to PostUp. Then, cult for the young company. have a method to help work- showing patients a relaxation vinced enough to test the Twitter-based business last month, it bought a com- “People are like, ‘Who are ers prevent them. CD he created for use in the doctor’s service, becoming pany called UberTwitter, a you again?’ ” he said. “But The Marina del Rey cardi- waiting room. the first customer when the UberMedia hopes new tweet app for mobile devices, because everything is virtual ologist has developed a “This is a technique that is website launched in Decem- handle sticks around. and changed its name again, these days, it’s not like you deceptively simple technique easy to understand and ber. Kennedy also is in dis- this time to UberMedia. actually have reams of sta- that he believes can prevent learn,” said Kennedy, direc- cussions with health insur- Does a Twitter-based com- Steve Chadima, chief mar- tionery, so it’s not as chal- cardiac problems, as outlined tor of preventive cardiology ers, which could eventually pany with another name tweet keting officer for the compa- lenging as it seems.” in his 2010 book, “The 15 and wellness at Marina del offer his service as a work- just as sweet? It’s a question ny, said executives decided to Chadima would not discuss Minute Health Cure.” Rey Hospital. place benefit. that has been taking up some rebrand in order to take details on whether the company The web-based protocol To cash in on his find, “This is a practice that not time at one Pasadena startup. advantage of the popularity of had to pay for new advertising, takes workers through slow Kennedy wrote his book and only can reduce heart attacks, Since the company UberTwitter, which is well- signage or logo design with each breathing exercises as they recently launched a subscrip- but also reduce absenteeism launched last year from tech known in its world. name change. But he did seem focus on a series of soothing tion website: BreatheforWell- and even enhance your perfor- incubator Idealab, it has had “The UberTwitter brand is relieved that the name-changing scenes displayed on a com- ness.com. Individuals pay an mance at work,” said Kennedy, three different names. It one of the most prominent is behind him, at least for now. puter screen, such as annual $15 fee for daily who has been featured on the began life in March as Tweet- brands in Twitter,” he said. “Hopefully the third time’s orchards, lakes and rivers. access, but Kennedy said his “ABC Evening News.” Up, which developed a Twit- “Grabbing on to that allows us a charm,” he said. Sound hokey? real target customers are com- – Deborah Crowe ter search engine. In August, to borrow the brand equity.” – Natalie Jarvey

The Real Investors of Beverly Hills Starring on “The Real Housewives of Beverly Uruguay Shuffle Hills” has been good for Russell and Taylor PAGE 3 Ryan Citro, a valuation and business model Armstrong – and not just because they’ve specialist with the downtown L.A. office of become famous. CHARLES CRUMPLEY Ernst & Young LLP, knew he would have some The Armstrongs – perhaps best known on the adventures when he set out on a trip to reality TV show for their marriage woes – are Uruguay in October and November as part of a now in business with BeautyTicket.com, a West the show and contacted her about working togeth- company fellowship program that sends finan- Hollywood-based online retailer that sells higher- er. The couple then acquired a 30 percent equity cial experts to developing countries to help end beauty products at steep discounts. stake in the company last month through Russell startup companies. Russell Armstrong said BeautyTicket’s Armstrong’s Miracle Mile-area private investment Citro even added a personal vacation with his founders, industry executives Lindsay Pedder and firm, Crescent Financial Partners Inc. brother Jeff, hiking in the Patagonia region of Jill Sherman, learned about his wife because of “After studying the business model, we felt neighboring Argentina. Hike: From left, Ryan and Jeff Citro. like BeautyTicket.com filled a void in the cosmet- But nothing prepared the 30-year-old for an ics industry,” he said. unusual camping trip into the middle of the store for the weekend. Armstrong is financing BeautyTicket’s future Uruguayan wilderness. The trip was arranged by When they woke the following morning, they growth through his investment firm, and plans to workers at the tech company startup in Montev- faced reality. take the company public within 24 months. ideo that Citro was sent to help bootstrap. “All we had left was half a bag of potato Meanwhile, Taylor Armstrong, who is co- With Citro tagging along, the workers drove chips,” Citro said, “so we all had to go back that founder and president of a business software con- for hours on dirt roads, crossing two rivers day.” sulting firm, is serving as BeautyTicket’s chief cre- before deciding to put up their tents more than ative director – a role some might find surprising. 50 miles away from the nearest settlement. Staff reporters Alexa Hyland and Howard Fine “Taylor’s very business minded and many But soon the workers opened up some bot- contributed to this column Page 3 is compiled by people don’t know it,” Russell Armstrong said. tles and began to party. Trouble was, in the Editor Charles Crumpley. He can be reached at Russell and Taylor Armstrong “She’s a go-getter.” process, the workers consumed their entire food [email protected]. Thumbnails LABJ User Guide Front Page Table of Content

4 LOS ANGELES BUSINESS JOURNAL UP FRONT FEBRUARY 7, 2011

News and notes from communities across REGIONAL REPORT Los Angeles County

 SOUTH BAY ern Indiana network of health care facilities. Financial terms of the deal were not disclosed.

EL SEGUNDO Checking In: ProMax Systems Inc., an Irvine media technology company, will be Plastic Support: Cereplast Inc., an El expanding to Burbank. ProMax plans a March Segundo maker of bio-based plastics, has opening for the office, at 4011 W. Magnolia raised $12 million through a private placement Blvd. The new outpost will be ProMax’s only of stock with several institutional investors. other office besides its Irvine headquarters. Cereplast expects net proceeds of $11 million, which it will use to grow in Europe. EAGLE ROCK

 CENTRAL AREA Curtain-Raiser: Film Fresh Inc., an Eagle Rock-based distributor of films for online download, has obtained $2 million in equity DOWNTOWN LOS ANGELES Eagle Rock: investment from a private group. The money Film and TV will go to expansion of the company’s services. African Project: Aecom Technology download site Corp., a downtown L.A.-based technical and FilmFresh.com management support services firm, has been has raised  Regional Report awarded a $13.4 million contract from the Demo- $2 million cratic Republic of Congo for a feasibility study To be considered for publication, Regional in equity Report submissions should be e-mailed to: on a hydroelectricity site. Aecom will be working investment. in partnership with Electricite de France on the [email protected] proposed Grand Inga site on the Congo River. Business news from companies in Los Ange- Irvine-based intellectual property law firm, has ity stake in Recentis Intermediaries LLC, a les County or nearby areas is listed on the New Outpost: RBF Consulting, an moved to a new office in Century City. The Westlake Village specialty reinsurance broker. page. Please be sure that press releases Irvine-based civil engineering firm, has opened new address is 10100 Santa Monica Blvd. Recentis executives said the deal will expand specify the name of the city and the name of an office in downtown Los Angeles. The loca- Knobbe Martens’ previous L.A. office was also Recentis’ client base. Financial terms of the the company along with the description of tion, at 801 S. Grand Ave., will be overseen by in Century City, at 1901 Avenue of the Stars. deal were not disclosed. the news. Submissions are evaluated on the Executive Vice President Michael Rudinica. basis of company size and the significance of the announcement. The Business Journal  SAN FERNANDO VALLEY  TRI-CITIES tries to include as many listings as possible,  WESTSIDE but some may not be published due to space limitations. WESTLAKE VILLAGE BURBANK Please address all inquiries to the e-mail CENTURY CITY address above. If you do not receive a Insurance Stake: Medical Growth: Breckenridge Insur- Healthcare of Today response in a timely manner, Legal Move: The Los Angeles office of ance Services Inc., a New York-based special- Inc., a Burbank-based holding company, is call (323) 549-5225, ext. 229. Knobbe Martens Olson & Bear LLP, an ty insurance underwriter, has acquired a major- acquiring Physician Hospital System, a north- Thumbnails LABJ User Guide Front Page Table of Content

FEBRUARY 7, 2011 NEWS&ANALYSIS LOS ANGELES BUSINESS JOURNAL 5 Expansion On Tap HOSPITALITY: Lucky Baldwin’s pub chain grows despite co-owner’s health issues.

By ALEXA HYLAND Staff Reporter “On the beer aspect, I did everything,” Farnworth said. “For me to walk downstairs – UCKY Baldwin’s British Pub & Café the fridges are downstairs – it’s so tough. It in Old Town Pasadena was dying 15 kills me going down stairs and then going L years ago. That’s when new owners back up.” David Farnworth and Peggy Simonian took Urban Miyares, founder and president of over. They introduced a selection of Belgian Disabled Businesspersons Association, head- and English ales, worked hard and created a quartered at San Diego State University’s homey atmosphere. Interwork Institute, said his organization serves They turned it around, and the bar was suc- about 3,000 business owners annually. Most of cessful enough that the British expatriates them were disabled when they started their launched a second Lucky Baldwin’s in Sierra businesses, but 20 percent fall into Farnworth’s Madre. They’re now opening a third, Lucky category: those who were disabled by an acci- Baldwin’s Trappiste Pub, in east Pasadena. dent or a disease in the midst of their careers. The longtime business partners are even think- He said oftentimes such business owners ing about a fourth. decide to sell or shutter their establishments, so RINGO H.W. CHIU/LABJ But Farnworth may not be able to work at Farnworth deserves credit for sticking it out as Bar Raisers: Farnworth and Simonian at Lucky Baldwin’s in Old Town Pasadena. that one. He has a degenerative disease that’s long as he can. reduced his arms and legs to skin and bones. “Most people just quit and go on disability So Farnworth asked Simonian if she want- 2006. That was when Farnworth started to He can’t lift his arms, hold a glass, turn a key benefits and wait to die,” Miyares said. ed to become co-owner of Lucky Baldwin’s in have trouble lifting his shoulders and arms, and or speak for any length of time without becom- order to help him turn it around. She agreed. he was beginning to lose weight. ing exhausted. Turning it around “I came here and there wasn’t a soul here,” At first, doctors suspected amyotrophic lat- “It’s so difficult for me to lift one arm up, I So why expand now, given the situation? Simonian remembered. “And I said, ‘What are eral sclerosis, or Lou Gehrig’s disease, a debil- can’t even sign my own name,” he said. They said they had planned to open the we buying?’ Because it wasn’t like we were itating illness that destroys nerve cells in the “Peggy has to sign for me.” third pub before Farnworth’s condition became buying customers.” brain and the spinal cord. At USC, his doctor Now that Farnworth, 58, and Simonian, 44, serious, and when the space became available, They were only making about $600 per day was unable to conclusively diagnose ALS will be juggling three locations, it means they decided to proceed. And the fourth loca- but needed about $1,000 to pay rent. They both because Farnworth lacked certain symptoms. Simonian has had to take on more of the work- tion? Simonian said she’ll have to see if the continued to work at the Tourist Authority and He received the same inconclusive diagnosis in load. They hired a general manager to help third is successful and if she can handle the spent evenings at the pub, Simonian waitress- a second opinion from a specialist at UCLA. handle the staffing, marketing and other increasing workload. ing and Farnworth tending bar. Doctors said it’s also possible that Farnworth aspects of the business. It was 1982 when Farnworth, a British It took a few years for them to build a clien- has Kennedy’s disease, a rare condition that “Neither of us knows where it’s going to native, moved to Los Angeles from South tele. They eventually were able to quit their causes muscle weakness and wasting. go,” Simonian said. “It’s a sad situation. It’s Africa, where he was working as an engineer, tourist board jobs. Farnworth no longer enjoys going to work. awful to watch and to not know what’s ahead to handle marketing for the British Tourist David Hatcher, a revenue manager for That’s because when customers want to greet or what’s coming up.” Authority. Simonian, who had been working West Hollywood, has been going to the origi- him he has to prop his right hand up with his What’s more, Farnworth, a respected beer for the Tourist Authority in London, moved to nal Lucky Baldwin’s in Old Town Pasadena left to shake hands. connoisseur, has always been in charge of the L.A. office in 1992 and they quickly for more than a decade. He comes for the “I used to love to come here,” Farnworth working with distributors and breweries to became friends. atmosphere. said. “But now I keep away. I don’t want to keep the pub stocked with rare brews such as Farnworth became a minority partner in “You feel like you know the people who meet people … because they want to shake my Russian Rivers’ Pliny the Younger, a pale ale Lucky Baldwin’s in 1995. The bar moved to work there,” Hatcher said. “You are friends hand and I look stupid.” that only gets released once a year to select its location in Old Town Pasadena the next with them. It’s a home away from home.” But Simonian said some things haven’t bars. But Simonian and Farnworth are thinking year, and was soon on the brink of going out Farnworth and Simonian, who’ve retained changed. about handing off some of the duties, such as of business because it was run down and their strong accents despite years in Southern “He tells me what to do now,” she said. overseeing the bars’ beer inventory. poorly managed. California, opened the Sierra Madre location in “But he always has.” Investors Bid Up the Stock of Online Auctioneer INTERNET: Culver City’s no longer rates it, also said investors could be attributed part of the loss to the recession. impressed that the company remained debt free Bidz.com (Nasdaq: BIDZ) “The majority of our sales are in jewelry Culver City FRI. CLOSE, PAST 5 WKS Bidz.com sees share price during the recession. 1.6 and watches,” he told the Business Journal. “In “Given the consumer recovery, Bidz may CEO: David Zinberg 1.5 this economy, they’re discretionary items that increase 15 percent. have a chance for its revenue and profitability Employees: 160 Feb. 2: $1.38 1.4 are lower on the list for consumers.” 1.3 to eventually bounce back,” he said. Market Cap: $28.3 million The company also spent a lot of money to By NATALIE JARVEY Staff Reporter Analysts at Zacks Investment Research in 1.2 develop a new website last year, Modnique.com, P/E*: N/A 1.1 Chicago had already upgraded their rating for 1.0 which could account for the wider net loss, he said. Investors are taking a new shine to online company shares from “underperform” to “neu- EPS: -$0.05 12/31 1/7 1/14 1/21 1/28 In 2009, Bidz was hit by four lawsuits after jewelry auction company Bidz.com Inc. tral” in a note to clients and investors in January. *Twelve months trailing. Source: Yahoo Finance allegations of bid-rigging. One was settled and Bidz, which trades on the Nasdaq, was one U.S. Commerce Department figures show one was dismissed; two are outstanding. The of the LABJ Stock Index’s top gainers last consumer spending rose 4.4 percent in the goods in auctions that can continue for days or Securities and Exchange Commission is also week, with a share price increase of 15 percent. fourth quarter, the biggest jump since 2006. weeks. Bids on Bidz start as low as $1 but investigating the company. Kuperman main- The stock closed at $1.38 on Feb. 2, up from Should that trend continue, Bidz and other climb quickly. tains that Bidz is not at fault. $1.20 the previous week. companies that count on discretionary purchas- The company reported a net loss of In the meantime, he said he doesn’t expect A recovery in consumer spending could be es could be in for some gains. $614,000 for the third quarter last year, wider the recession or the company’s legal troubles behind the rise for the Culver City company, Bidz, founded in 1998, sells mostly high- than its net loss of $58,000 for the same quar- to affect its business this year. said Frederick Moran, an Internet analyst with end jewelry and watches in online auctions that ter in 2009. “We’re pretty optimistic in 2011,” he said. Benchmark Co. LLC in Boca Raton, Fla. typically last less than one hour. It’s different Leon Kuperman, president and chief tech- “We’ve been having conversations with institu- Moran, who covered Bidz’s stock last year but from eBay, which lets people sell their own nology officer for the 160-person company, tional investors and they’re in it for the long haul.” Thumbnails LABJ User Guide Front Page Table of Content

6 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS FEBRUARY 7, 2011 Clothing Maker Fashions New Management Team of nearly $9.5 million for the quarter, com- APPAREL: Debt piles up American Apparel Inc. (AMEX: APP) pared with net income of $4.2 million the same Los Angeles FRI. CLOSE, PAST 5 WKS period a year earlier. 2.2 as American Apparel works CEO: Dov Charney Ilse Metchek, president and executive Feb. 3: $1.06 2.0 to revive slumping sales. Employees: 10,000 1.8 director of downtown-based California Fash- 1.6 Market Cap: $75.7 million ion Association, said American Apparel needs By ALEXA HYLAND Staff Reporter 1.4 to focus on producing even more fashion-for- P/E*: N/A 1.2 1.0 ward clothes to gain an edge. That’s because American Apparel Inc. has been trying to EPS: -$0.90 12/31 1/7 1/14 1/21 1/28 the company is facing increasing competition grow up. The downtown L.A. company has *Twelve months trailing. Source: Yahoo Finance from discount retailers such as Target and been expanding its line to include midlength Wal-Mart, and fast-fashion chains such as flannel skirts and other items for its maturing make it smaller and more exclusive. Then it H&M and Forever 21. customers. needs to raise prices to get its margins back.” “What is driving people somewhere is new But sales didn’t exactly didn’t take off for Chief Executive Dov Charney built fabrications, new product,” Metchek said. the apparel manufacturer and retailer, better American Apparel into the largest clothing Another recent development: Billionaire known for spandex leggings, lace bodysuits company that manufactures in the United Ronald Burkle reduced his 6 percent stake in and basic T-shirts. States. He did so by turning basic T-shirts, American Apparel to 4.7 percent last month; That’s where things are with style. Now on sweatshirts and leggings into trendy garb for he remains the largest individual shareholder to the substance. the new millennium. after Charney. American Apparel has been trying to In a marketing move, the company Most significantly, American Apparel’s streamline its business operations, cut costs offered a $25 voucher through the popular been under debt pressure – the company’s debt and, above all, manage its stubborn debt – online discount site Groupon that could buy as of Sept. 30 was $134 million, compared which has forced the company to report that its $50 in merchandise, and Reuters reported with $120 million three months earlier. ability “to continue operations as a going con- Racier: New ad for American Apparel. that it offered a similar deal in Europe, Brazil The company announced last week that cern” is at risk. and Mexico in December for the holiday lender Lion Capital temporarily waived So the company has been stocking its Peter Schey, an attorney and spokesman shopping season. through Friday a credit agreement requiring it shelves with more sophisticated clothes to for American Apparel, said the company It also has expanded its merchandise to to maintain a minimum level of profitability appeal to its base of aging twentysomethings, doesn’t comment on its business strategies. offer more accessories such as sunglasses, over a 12-month period. Now, American offering discounts through the Groupon web- However, American Apparel is optimistic watches and fingerless gloves. Apparel executives are working to make the site and restructuring its corporate ranks. about its future. Meanwhile, the company has made its temporary waiver permanent in addition to American Apparel announced last week “We are continuously optimizing our effi- advertising even more provocative than in the negotiating further amendments. that it appointed John Luttrell, a former chief ciencies and strengthening the executive past. The new campaign features topless pho- Meanwhile, Schey has been quoted as say- financial officer at Old Navy and Wet Seal, team,” Schey told the Business Journal. “We tos in addition to the usual seminudes. ing that American Apparel is working with to serve as executive vice president and CFO. think that we are going to have a positive year Last summer, the company started making consultants to streamline operations. He replaces Adrian Kowalewski, who was and look forward to building and strengthening clothes such as button-down shirts, pleated Edwards said if American Apparel isn’t named executive vice president of corporate the brand.” pants and sweaters to capture American able to improve margins and cut costs soon, strategy. But others are skeptical. Apparel’s core clientele of young hipsters as then its major lenders, Lion and Bank of That C-suite shuffle comes as American “The way out for American Apparel is to they started to get older. But there hasn’t been America, are going to get antsy. Apparel is renegotiating the terms of a credit shrink,” said Jim Edwards, a columnist for CBS an immediate impact. For the three months “If we don’t see that in the fourth quarter,” agreement with one of its largest lenders, Lon- Interactive’s online business publication BNET ended Sept. 30, sales declined 11 percent to Edwards said. “Lion and Bank of America don private equity firm Lion Capital LLP, to who follows the company. “It’s overbuilt many $135 million, compared with the same period a have to ask some serious question about when avoid defaulting. of its stores. So it needs to shrink its footprint, year earlier. The company reported a net loss that turnaround is going to occur.”

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FEBRUARY 7, 2011 NEWS & ANALYSIS LOS ANGELES BUSINESS JOURNAL 7 Strong Earnings Bolster Outlook for Local Banks between banks that have worked through the BANKING: Majority of bulk of their loan loss problems and those with institutions see gains for lingering concerns. “You’re going to start to see a tale of two second straight quarter. cities,” Francis said. “You are going to have some banks that have gotten their exposure By RICHARD CLOUGH Staff Reporter down and others that are still struggling with it.” After enduring years of substantial losses, Those that do not have to deal with such L.A.’s banking industry may finally be moving matters will be better positioned to take mar- past its credit quality issues. ket share at the expense of those banks with For the second consecutive quarter, the lingering problems, he added. Regulators majority of local banks – including big institu- will likely allow healthier banks to grow tions such as City National Bank and Cathay before the rest, which could exacerbate the Bank – exceeded expectations with their earn- divide. ings, which analysts said was the clearest sig- “You will have (banks) who are coming out nal yet that a rebound is underway. faster than others,” he said. “Banks that have “By and large the banks are all doing much credit under control are the first ones that get better than they were a year or two ago,” said out of their timeout and are told you can go out RINGO H.W. CHIU/LABJ Posting Profits: City National Bank branch in Pasadena. Aaron Deer, an analyst with New York’s San- and play now.” dler O’Neill & Partners LP. While not every bank was in the black, most of those posting profits in the last week or two were helped by drawing down loan loss reserves. YOU’D HAVE TO BE CRAZY TO BRING Good Showing A NEW BANK TO L.A. RIGHT NOW. Several of L.A.'s publicly traded banks beat fourth quarter earnings expectations. Average Actual Expected Earnings Bank EPS Per Share City National Bank $0.70 $0.75 Cathay Bank 0.13 0.18 Nara Bank 0.04 0.10 Center Bank 0.11 0.14 Source: Bloomberg News

City National and Nara Bank both posted better-than-expected profits after reducing their reserves. Even Hanmi Bank, a Kore- OR GENIUS. atown institution that has been struggling with deep problems in its loan portfolio, sur- prised investors with net income of $5.3 mil- lion – its first profitable quarter in two years INTRODUCING TORREY PINES BANK – after narrowing its loss reserves by $30 million. THE RIGHT BANK FOR THE TIMES. Many bankers remain cautious about We’ve opened Torrey Pines Bank in Los Angeles now because NEED TO TALK ABOUT YOUR declaring a full-blown recovery, though, BUSINESS? TALK TO US. given uncertainty about the strength of the we saw an opportunity — to bring you a true community economy. Take Cathay, which earned $18.1 million bank with capacity, built to take care of your business needs BILL PAREDES during the last quarter. The strong quarter, its in all kinds of times. A bank with industry–leading measures Executive Vice President second straight, represents a dramatic turn- Corporate Bank Manager around from a year ago, when it lost more of financial strength and the support of Western Alliance than $35 million in the fourth quarter. Bancorporation, a $6 billion holding company that has 213.362.5212 But Heng Chen, chief financial officer of [email protected] parent Cathay General Bancorp, refused to raised approximately $470 million in capital since 2008. draw overly optimistic conclusions about Cathay’s financial situation based on recent ANN YASUDA earnings. Veteran bankers who know L.A. business like Bill Paredes Senior Vice President “We would characterize it as stable,” he with 30 years experience in commercial lending including said. Manager Not every bank was so stable, though. real estate, business loans, lines of credit and equipment 213.362.5218 Wilshire State Bank, for instance, lost $30 financing; and Ann Yasuda with over 25 years of commercial [email protected] million in the fourth quarter after padding its loan loss reserves. and private banking experience. Our bankers take pride Analysts had predicted a profitable quar- in providing highly personalized service with a host of ter for Wilshire, only to be surprised when the Koreatown bank revealed higher loan innovative products, uncommon lending capacity and fast 601 W. 5th Street, Suite 100 losses than anticipated. The bank did not decision making. It’s the kind of banking relationship you’ve respond to requests for comment, but in a Los Angeles, CA 90071 statement after the earnings announcement, always wanted. Genius? Perhaps. Or, simply being there at 213.362.5200 | TORREYPINESBANK.COM Joanne Kim, chief executive of holding com- the right time. pany Wilshire Bancorp Inc., said the quar- ter was merely a bump in the road toward consistent profitability. “Our fourth quarter results reflect our aggressive actions to resolve lingering credit issues related to commercial real estate loans,” she said. “Following these actions, we have now disposed of the weakest credits in our loan portfolio and have positioned the bank to move forward with more manageable TORREYPINESBANK.COM credit costs.” Wade Francis, president of Long Beach bank consulting firm Unicon Financial Ser- Torrey Pines Bank is an Affiliate of Western Alliance Bancorporation. vices Inc., said there could be a growing divide Thumbnails LABJ User Guide Front Page Table of Content

8 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS FEBRUARY 7, 2011

MEDIAWATCH

 MOVIE BOX OFFICE Weekend Gross Total Gross Rank Title (millions) (millions) Distributor 1 Rite $14.8 $14.8 New Line 2 No Strings Attached 13.4 39.5 Paramount 3 Mechanic 11.4 11.4 CBS Films 4 Green Hornet 11.2 78.5 Columbia 5 King's Speech 11.1 72.2 Weinstein Co. 6 True Grit 7.5 148.3 Paramount 7 Dilemma 5.7 40.8 Universal 8 Black Swan 5.1 90.7 Paramount 9 Fighter 4.0 78.3 Paramount 10 Yogi Bear 3.2 92.5 Warner Bros. Weekend ended Jan. 30 Source: Bloomberg News Underground: Ameron pipes being placed at a construction project.  PRIMETIME TV SHOWS Rank Program Network Rating* 1 American Idol (Wed.) Fox 13.8 Investment Firm Digs In 2 American Idol (Thurs.) Fox 12.4 3 Hallmark Hall of Fame CBS 9.3 4 NCIS CBS 8.3 5 Criminal Minds CBS 7.8 Over Pipe Maker’s Board Week ended Jan. 30 *Each rating point equals 1.1 million homes. Source: Bloomberg News questioned Mr. Marlen’s management skills MANUFACTURING: and his reliance on asset sales to help the com-  CABLE TV SHOWS pany make its numbers.” Rank Program Network Rating* Barington looks to unseat Barington’s case also got a boost from 1 Jersey Shore MTV 5.4 Ameron’s CEO-chairman. Brent Thielman, the only analyst to cover 2 Pawn Stars History 4.3 Ameron. In a report published by Portland, 3 Pawn Stars History 4.1 By JOEL RUSSELL Staff Reporter Ore.’s D.A. Davidson & Co. on Jan. 31, Thiel- 4 SpongeBob SquarePants Nick 3.8 man concluded the stock should trade at $109 5 American Pickers History 3.7 A fight over control of Pasadena pipe man- per share, backing up Barington’s position that Week ended Jan. 30 *Each rating point equals 1.1 million homes. ufacturer Ameron International Inc. escalat- it should be more than $100. Source: Bloomberg News ed last week when an investment fund set the “Ameron trades at a nearly 50 percent dis-  TOP SELLING ALBUMS stage for a proxy challenge for two board seats. count to the implied value for the shares,” If successful, the challenge will take Thielman wrote. “Given the still meaningful Rank Last Week Artist Title Label Ameron’s current chairman-chief executive off discount, we are maintaining our ‘buy’ rating.” 1 New Decemberists King Is Dead Capitol the board and give New York-based Baring- Michael Levin, founder of the Activist 2 New Various Artists Kidz Bop 19 Razor & Tie ton Capital Group a voice in the boardroom. Investor, a shareholder consulting firm in 3 New Script Science & Faith 101 Distribution Ameron makes concrete, fiberglass and steel Chicago, said that both Barington and the 4 New Social Distortion Hard Times and Epitaph pipes for construction and manufacturing. It also Ameron board will send to shareholders sepa- Nursery Rhymes makes poles for street lights. The company has rate proxy mailers arguing for their respective 5 New Gregg Allman Low Country Blues Rounder 2,400 employees, and operations in Houston, Hon- candidates. Ameron’s board will pay for these Week ended Feb. 4 Source: Billboard.com olulu, Rancho Cucamonga, Brea and Ventura. materials from company revenue; Barington  MOVIE RENTALS - DVD/VHS Last week, Barington notified Ameron that will pay out of pocket. the investment firm will nominate two direc- Rank Last Week Title Distributor tors for Ameron’s board. Results of the elec- 1 1 Social Network Sony tion will be announced at the annual sharehold- Timeline 2 New Takers Sony er meeting March 30. Key dates in Barington’s campaign against 3 2 Dinner for Schmucks DreamWorks One of the contested board seats is held by 4 New Buried Lions Gate James Marlen, chairman and chief executive. If Ameron’s management: 5 6 Town Warner Bros. he loses, Marlen would be removed from the JAN. 5: Barington letter criticizes Ameron’s Week ended Jan. 23 Source: Rentrak chairman’s position but could remain CEO at low stock price and seeks ouster of CEO least until his contract expires in 2012.  James Marlen. DVD SALES The battle roared to a start Jan. 5 when Bar- Rank Last Week Title Distributor Suggested Retail ington sent a public letter to Ameron’s indepen- JAN. 12: Ameron independent directors 1 New Takers Sony $28.95 dent board members calling for Marlen’s ouster refute Barington criticisms in a press release, 2 1 Social Network Sony 28.96 as chairman-CEO. The letter complained about calling them inaccurate and vindictive. 3 New Death Race 2 Universal 29.98 the company’s poor financial performance and JAN. 31: Ameron releases 2010 earnings 4 5 Despicable Me Universal 29.98 said that Marlen’s compensation of $66 million report that misses analyst expectations. 5 2 Alpha and Omega Lions Gate 29.95 over 16 years was excessive. FEB. 1: Barington sends Ameron notice that it Week ended Jan. 23 Source: Rentrak Also, Barington said Ameron stock should be trading at more than $100 per share. The will nominate two candidates for board election.  MOVIELINK DOWNLOADS stock closed Feb. 3 at $70.53. MARCH 30: Election results will be Rank Title Distributor Suggested Retail In a press release issued Jan. 12, Ameron’s announced at annual shareholder meeting. 1 Red Summit $19.95 independent board members rebuffed Baring- 2 Social Network Sony 19.95 ton’s assertions, saying that the stock price had 3 Salt Sony 19.95 increased fivefold during Marlen’s tenure. “Barington can challenge these incumbents, 4 Takers Sony 19.95 “The criticisms of the company are inaccu- but the system is really slanted in favor of 5 Open Season 3 Sony 19.95 rate and reflect a fundamental lack of under- incumbents,” Levin noted. Week ended Feb. 2 Source: Cinemanow.com standing of Ameron’s history, businesses and But history gives some hope to Barington’s markets,” the board members stated. long-shot strategy. Last year, the firm proposed  OUTTAKE OF THE WEEK James McLaughlin, Ameron senior vice a shareholder resolution to split the chairman president and treasurer, told the Business Jour- and chief executive job titles rather than having ‘SHORE’ THING nal that the Jan. 12 letter summarizes the com- Marlen in both roles. The resolution gained MTV continues to pany position, and he declined further comment. approval from 56 percent of shareholders, yet score with reality TV Barington also declined to comment. How- fell short of the 80 percent threshold needed to show “Jersey ever, a source familiar with the company’s make it binding on the board. Shore,” now in its thinking who spoke on condition of anonymity Even if Barington’s two nominees win the third season. The said Ameron’s fiscal 2010 earnings, released election, the fund won’t be able to dictate program features a Jan. 31, motivated the proxy battle. terms on Ameron’s seven-person board. But group of Italian Ameron reported 2010 net income of $46.3 the message of shareholder unrest will grab the Americans in the million, or $5 per share, a 39 percent increase attention of management, said Levin. Garden State and from the previous year. However, the company “Right now it sounds like there are seven was the top cable sold a steel mill for $48.4 million last year. With- board members friendly to management,” he show for the week out that one-time gain, the company would have said. “If two members are not friendly and ended Jan. 30. had to report a loss from its ongoing operations. constantly challenge management, that is often “That earnings release may have tipped the enough to win the kinds of concessions Bar- scale,” the source said. “Barington has publicly ington wants.” Thumbnails LABJ User Guide Front Page Table of Content

FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL 9

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LOS ANGELES | ORANGE COUNTY | SAN FERNANDO VALLEY | SOUTH BAY | INLAND EMPIRE Thumbnails LABJ User Guide Front Page Table of Content

10 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS FEBRUARY 7, 2011

Last week’s major news from labusinessjournal.com NEWS OF THE WEEK and other sources Attorney General Kamala mission had earlier rejected panies and scout new Harris has announced a $6.5 Gambol Industry Inc.’s prospects. million settlement of a preda- plan to build a repair facility tory lending case against for- at a port site, saying it would EARNINGS: Tetra Tech mer Countrywide Financial delay deepening the main Inc. reported net income of Corp. Chief Executive Ange- channel so it could handle $22.3 million, 19 percent lo Mozilo and former Presi- larger ships. In an unusual higher than a year earlier. dent David Sambol. The move, the council questioned Revenue rose 13 percent to money will help establish a the commission’s decision, $611 million. … Ameron statewide foreclosure crisis then allowed it to stand. International Corp. reported relief fund. Mozilo and his per-share profit of $2.88, 89 team were accused of allow- Soon-Shiong NAMED: AEG has reached a NEW JOB: Greg Waldorf, percent higher than a year ear- ing loose lending policies, naming-rights deal with the former chief executive of lier, but did not report net and not fully informing bor- Shiong has acquired Vitality Farmers Insurance for a pro- Pasadena online matchmaker income totals. Sales fell 9.6 rowers of the risks. Inc., a Cambridge, Mass., posed National Football eHarmony, has been named percent to less than $124 mil- FOR SALE: Oil giant BP maker of pill bottles that use a League stadium in downtown CEO-in-residence of Accel lion. … Health Net Inc. plans to sell its Carson refin- MERGED: First General variety of electronic means to Los Angeles. The deal is Partners, a Silicon Valley reported fourth quarter net ery, which supplies about 25 Bank has announced its remind patients to take their potentially worth $700 mil- venture firm. Waldorf income of $80.4 million, 78 percent of L.A.’s gasoline merger with American Pre- medicine. The company’s lion over 30 years. The down- percent higher than a year ear- demand, by the end of 2012. mier Bank is complete. The GlowCap bottle lights up, town project, which faces Waldorf lier. Revenue fell 11 percent The divestment is part of a combined bank retains the plays a melody and can even competition from a rival City to $3.37 billion … Avery larger plan to cut by half BP’s name of First General Bank, use wireless communications of Industry plan backed by Dennison Corp. reported U.S. refining capacity, which and has five branches in the to ring patients. It also sends billionaire developer Ed Roski fourth quarter net income of also includes selling off some San Gabriel Valley and weekly reports to doctors. Jr. of Majestic Realty, still $114 million, 128 percent Texas facilities. BP acquired Orange County. First General needs government approvals. higher than a year earlier. the Carson refinery through is based in Rowland Heights INVESTMENT: A consor- Mayor Antonio Villaraigosa Sales rose 8 percent to $1.64 the oil giant’s 2000 takeover and American Premier was tium of investors organized by named a blue-ribbon commis- billion. … Mattel Inc. report- of Arco. It has 1,200 employ- based in Arcadia. The com- Colony Capital LLC has sion to review the AEG plan ed fourth quarter net income ees, 500 contractors and the munity bank now has $320 acquired two more portfolios that will be co-chaired by of $325 million, 1 percent capacity to produce about million in assets. of distressed real estate loans First Deputy Mayor Austin lower than a year earlier. Rev- 265,000 barrels per day. from the Federal Deposit Beutner and Sony Pictures enue rose 9 percent to $2.12 ACQUISITION: L.A. biotech Insurance Corp. for about Entertainment Chief Execu- billion. … THQ Inc. reported SETTLEMENT: California billionaire Dr. Patrick Soon- $193 million. The portfolios tive Michael Lynton. stepped down Jan. 19 from a net loss of $14.9 million, had a total unpaid principal Santa Monica-based eHar- compared with net income of balance of $817 million and UPHELD: The Los Angeles mony, which is rumored to $542,000 a year earlier. Rev- labusinessjournal.com were acquired at 24 percent of City Council decided not to be preparing an initial public enue fell 12 percent to less The best source for up to the minute local, national and that number. Like other deals overturn the Harbor Com- offering. He was a founding than $315 million. … Inter- worldwide business news. Colony has struck with regu- missioners’ denial of a Long investor in of the site 11 national Rectifier Corp. FREE MORNING UPDATE lators, the FDIC retains a 50 Beach company’s bid to years ago and served the last reported net income of $43.9 percent equity interest in the build a shipyard at the Port five years as chief executive. million, 55 percent higher Prepared by the editors of the Los Angeles Business Journal than a year earlier. Revenue and sent to you by e-mail every business day. Sign up now at assets and Colony will be in of Los Angeles, but urged At Palo Alto-based Accel, www.labusinessjournal.com charge of disposing of the commissioners to find a site Waldorf will work with the rose 34 percent to nearly $282 assets. for the shipyard. The com- firm’s current portfolio com- million.

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

AVIATION FINANCE FINANCE Korean Air has promoted John Jack- Wells Fargo Insurance Services is Union Bank, N.A., announced son to vice president of marketing for excited to welcome Katie King to the that Gerard W. Hollins, Jr. has the Americas. Jackson was formerly agency. Katie is a Senior Vice Presi- been appointed to vice president director of marketing at the airline dent and Business Development Offi- of the Legal Specialty Group of which is the largest Asian airline serv- cer in the San Gabriel Valley region, Union Bank’s Private Bank. The ing the Americas. Jackson is the first including Pasadena, West Covina and Legal Specialty Group provides non-Korean to hold this executive Ontario. Katie will be working with the comprehensive financial solutions position at Korean Air in the Americas. Commercial Banking Group to identify to law firms and legal professionals. Jackson King and develop new business genera- Hollins Hollins will oversee the practice in Jackson grew up in the airline industry tion and cross sales opportunities, the Los Angeles region. with his mother a flight attendant and his father a mar- focused on the Middle Market. She will also be responsi- keter for Delta. He actively started his airline career as a ble for developing a Health Care Practice in the Southern campus sales representative with Continental sales in the California Region. Katie brings tremendous experience 1980s at the University of Georgia. and an outstanding reputation in the insurance brokerage community. Congratulations, Katie and welcome aboard! Announce your hirings, FINANCE promotions and other Gumbiner Savett Inc. Managing LAW Director Michael Savoy, CPA, has Wahid E. Guirguis has become a accomplishments. been appointed to the California Shareholder at the Pasadena law Board of Accountancy (CBA). In his firm Hunt Ortmann Palffy Nieves new role, Savoy will work toward Lubka Darling & Mah, Inc. Since join- regulating the accounting profession ing Hunt Ortmann, a firm specializ- for the public interest. He will also ing in construction law, Mr. Guirguis serve on the legislative committee has represented owners, general Contact Rosz Murray at of the CBA. As managing director of Savoy contractors, public entities, sub- Gumbiner Savett, Savoy focuses his contractors, material suppliers, and 323.549.5225 client services on providing audit and financial reporting Guirguis engineers/architects in all aspects for privately held entities, tax planning and compliance, [email protected] of private and public works. succession planning and exit strategies. Thumbnails LABJ User Guide Front Page Table of Content

FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL 11

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12 LOS ANGELES BUSINESS JOURNAL PROFILE FEBRUARY 7, 2011

RINGO H.W. CHIU/LABJ Directors on the Set: Husband and wife co-owners Susan and Jim Morris at the downtown Los Angeles office of traffic control services company JCL Barricade.

The Hollywood writers strike drove JCL beyond traffic control services for movie shoots to working Lane Change for special events and construction projects.

By JOEL RUSSELL Staff Reporter was juggling $90,000 in plastic debt to fuel on traffic flow. the company’s growth. JCL Barricade Co. Ernest Doud, president of business consul- ILM shoots are a familiar sight in Los “It sounds horrible, but we knew the money YEAR FOUNDED: 1997 tancy Doud Hausner & Associates in Flo- Angeles. They’re recognizable by was coming and it did,” Jim Morris said. “This rence, Ore., said niche businesses are great as rows of equipment trucks, trailers and wasn’t extravagant, it was $90,000 of revenue- HEADQUARTERS: Downtown Los Angeles long as that industry remains healthy. In the F crowds of people. And sometimes producing equipment.” CORE BUSINESS: Traffic control services for case of film location work in Los Angeles, sta- they require road closures. The niche is regulated by the California movie productions and special events. tistics point to a long-term decline as produc- That’s when production companies call Department of Transportation. When JCL tions move elsewhere to take advantage of JCL Barricade Co., which specializes in traf- launched, Caltrans simply required that traffic EMPLOYEES: 14 lower costs. fic control for the film industry. In 14 years, control workers wear hardhats. But within a GOALS: To expand into related markets such “If I’m serving a niche that is declining, I the company has grown from a husband-and- few years, the regulation changed to require a as signage and construction projects. have to ask who else needs traffic control?” wife team working out of a backyard in West contractor’s license, which requires five years Doud said. Covina to a 14-person operation in a 12,000- of experience, raising a significant barrier to THE NUMBERS: The company charges $2,400 Morris said that filming still accounts for 75 square-foot warehouse near downtown Los entry for new competitors. per day for traffic control when a major street percent of his revenue, with the rest coming Angeles. Revenue has Mike Fantasia, an independent location is closed for filming. Annual revenue of more from branching out into construction, special This Week: increased every year manager, said he’s been impressed with the than $3 million. events and signs. except 2008 and now totals Morrises’ service on productions including The biggest project for JCL is the Orange NICHE more than $3 million. “Catch Me If You Can,” “Seabiscuit” and worked for a bankrupt traffic control company County Marathon, which features a 26.2-mile Chief Executive Jim “The Green Hornet.” in San Bernardino in construction. With his route through five cities that crosses hundreds Morris was once a security guard on film loca- “In this business we change our minds all skills, we have made significant headway into of streets. tions, then worked as a location manager. Dur- the time,” Fantasia said. “On some of these that industry.” JCL uses all its equipment plus rentals. The ing that time, he discovered traffic control for shoots we’ve changed the plan 30 or 40 When the writers strike ended, Morris tally includes 2,500 orange cones, 1,200 no- shooting was an underserved niche. In 1997, times and every time JCL complied, often moved into making custom signs pointing the parking signs, 650 street barricades, 50 detour he and his wife, Susan, decided to fill that need without charging.” way to a movie or TV shoot. Morris figures he signs, 42 water-filled traffic barriers and 20 and launched their company. JCL grew consistently for a decade, but now makes 80 percent of those signs around electronic message boards. Jim Morris recalled that at the time, there hit a crisis with the writers strike of 2007-08. Los Angeles, in addition to other signs for Although JCL has grown big by filling niche were only two other companies offering traffic Movie and TV filming in Los Angeles parking lots and small businesses. markets, Morris knows it’s not a fail-safe strate- control: one that charged very high rates and ground to a halt. The company survived by gy. At one point in 2006, he decided to start an one that charged low rates but provided mini- finding work with special events and TV TV and movies apparel manufacturing company in downtown mal service. He decided to enter the market as commercials. It avoided laying off workers On any given day, JCL crews are working Los Angeles. But it lost significant money that a midprice alternative. by reducing hours. JCL workers normally put three or four projects. Last year, the company could he could have used to build up JCL. “It’s a genuine niche industry in that there are in 60-hour weeks, but during the strike they worked on TV shows such as “House,” “The In retrospect, he attributes that failure to many traffic control companies but only three were only putting in 24 hours. The slowdown Office” and “CSI: New York.” Recent film ignorance about the niche he was entering. target the motion picture industry,” he said. prompted Jim Morris to look beyond his projects include “Social Network” and “Green “The most important thing is to explore Contracting for traffic control requires movie business niche. Hornet.” niches without laying out a tremendous cones, signs, barricades and the trailers to “We had to look elsewhere for growth, so I A typical job might involve taking the right amount of capital,” Morris said. “Just choose bring them to the shoot. To finance equip- decided on special events and mainstream lane of a major street for parking a movie’s the niches carefully where you really think it ment purchases, Susan Morris signed the construction projects,” he said. “I had little equipment trucks, or closing a street and will work out. If you don’t know a particular couple up for every available credit card and experience in those fields, so we brought in diverting traffic. JCL’s fee for a street closure business, you should know it’s not going to maxed them out. At one point, the couple David Campos, a professional who had ranges from $500 to $2,400 a day, depending work out.” Thumbnails LABJ User Guide Front Page Table of Content

FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL 13

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155256_1C3_v1_NP.indd 1 12/23/10 8:36 AM Thumbnails LABJ User Guide Front Page Table of Content

14 LOS ANGELES BUSINESS JOURNAL PEOPLE FEBRUARY 7, 2011

Aviation executive Joe Czyzyk worked at United Air Lines and Israel’s El Al before earning the pilot’s Winging It seat at cargo handler Mercury Air Group.

By HOWARD FINE Staff Reporter Unless you’re from Eastern Europe, where the stewardesses, it was like nirvana for me. really had a passion for engineering like I did “y” functions as a vowel. But I never wanted to for aviation. When I graduated in 1971, it was INCE his childhood when he played change my name. In fact, I learned something Then you served in Vietnam. not the best time to be an engineer. There were with balsa wood model airplanes, Joe interesting about that name: Before World War I was in the Navy Seabees and did two tours of layoffs at all the big defense companies and the Czyzyk has been interested in any- II, it was the name of the chief rabbi in Warsaw duty in Vietnam. I was injured twice: The first country was in a minirecession. I finally took a S thing related to aviation. These days, and also the archbishop of Warsaw. Quite an time I injured my hand at a shooting range here job at Crocker Citizen Bank. as chief executive of Playa Vista-based Mer- impressive family name if you ask me. in the States; my hand got caught in the trigger cury Air Group, he heads the largest air cargo mechanism. The second injury was a shrapnel Then what happened? handler at Los Angeles International Airport, You didn’t fly until you were living in Los wound I received while building an airstrip in My big break came in talking with one of the and has air cargo and airplane fueling opera- Angeles. Vietnam. That was a really scary experience. bank’s customers, a regional manager for Unit- tions spanning the globe. In his travels, Czyzyk I was 19 when I took my first flight up to San The bullets were really flying – I can still hear ed Air Lines. He told me that United had an (pronounced “Chizik”) has visited more than Francisco from L.A. It was on PSA, one of them. They sounded like bumblebees. opening in its marketing department. Well that 100 countries on six continents. At home, he’s those airlines that went out of business a long decision took all of five seconds: I went for the become increasingly involved in civic affairs. time ago. In those days, you could walk right You didn’t start your career in the airline job and got it. He served on the Los Angeles Taxicab Com- up to the counter, pay the air fare and walk on industry. Why not? mission for 10 years and, this week, he formal- to the plane – no security. And with the pretty I graduated with an engineering degree. I never Please see page 16 ly will take over as chairman of the Los Ange- les Area Chamber of Commerce. Born in a small village outside Warsaw, Czyzyk, 63, first arrived in Los Angeles with his family nearly 50 years ago. He got his start in the aviation industry at United Air Lines, then moved on to build up Israeli airline El Al’s presence in Los Angeles and New York. He joined Mercury Air in 1984 and became chief executive in 1999. Czyzyk sat down at his office in Playa Vista with the Business Journal to discuss his love of aviation, his civic involvement and his favorite pastime of fly-fishing.

Question: How did you first get interested in airplanes and air travel? Answer: I have always been fascinated by air- planes. When I was a child, I used to have balsa wood airplanes and I loved getting them as gifts. I just loved planes. To this day, I mar- vel at how a plane can lift 1.5 million pounds off the ground, how a machine can take people from one continent and deposit them a few hours later on another continent.

Your parents were Jews in Eastern Europe during World War II. How did they survive? My parents escaped Poland just as World War II began. My father saw what was coming. They spent the war years on the run through the Soviet Union, just ahead of the German army. They went from Archangel, a city on the Arctic Ocean in the northwest Soviet Union, to Vladi- vostok on the Pacific Ocean. After the war, my parents returned to Poland and settled in a little village just outside Warsaw where I was born.

How did your family end up in Montreal? My father tried to return to the fur business he had before the war, but he saw the writing on the wall when the Russians arrived. Again, my family got out just in time, before the borders were closed in the late 1940s. We had relatives in Halifax, Nova Scotia, so that’s where we went. Eventually, we settled in Montreal.

How long were you there? Well into my high school years. But my par- ents never really felt at home in Canada; they wanted to come to the United States. So in 1963, we drove from Montreal to Los Angeles. I fell in love with Los Angeles.

What did your father do once the family arrived in L.A.? My father’s first job here was as a taxi driver. He tried a few other jobs for a while and then he bought up some nursing homes. In five years, he had established a very comfortable lifestyle – that’s truly living the American dream.

Once you were here in the United States, did you ever want to change your last name to something easier to pronounce and spell? RINGO H.W. CHIU/LABJ Sure, my name is difficult for Americans. Higher Plane: Chief Executive Joe Czyzyk outside his office at air cargo hangler Air Mercury’s Playa Vista headquarters. Thumbnails LABJ User Guide Front Page Table of Content

FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL 15

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16 LOS ANGELES BUSINESS JOURNAL PEOPLE FEBRUARY 7, 2011

Continued from page 14

But you soon moved over to Israel’s El Al Airlines. While at United, I met the passenger sales man- ager for El Al. I had an attachment for Israel as a lot of young Jews did at that time. It was just after the 1967 Six Day War. I had traveled to Israel and loved it. So I took the job. I built up El Al’s presence in Los Angeles and then I moved to New York for five years and built up the airline’s presence there. Then I became cargo manager. That’s where I got incredible exposure to international air travel and trade.

Word is that your office mates have a game: “Pick any city in the world, and Joe has either been to that city or within 50 miles of it.” Yes, that really started at El Al. I found that every couple of years, I was adding more pages to my passport – that’s how much travel I was doing. I’ve now been to more than 100 countries. I’ve been to every continent except Antarctica – and I’d like to go there, too, someday. I haven’t been to all these places on holiday or vacation – it’s been on business or to develop business.

With all that traveling, you must have had your share of unusual experiences. What sticks out most in your mind? Well, one fascinating experience was my time in the Khyber Pass (between Afghanistan and Pakistan) back in 1974. I was in Pakistan at a time when very few tourists were there. We ventured up to mountains around Peshawar, right on the northwest frontier. The only way to get down from there is through this place called Torkham and then through the Khyber Pass. That was an exceptional experience: You could buy anything you wanted in Torkham, including human slaves. I remember thinking to myself that here I was in 1974 – not 1774, but 1974, mind you – and people were buying Through the Years: Clockwise from top left, Czyzyk with family in early 1950s; fly-fishing on Roaring Fork River near human slaves right out in the open. Aspen, Colo.; with Warren Buffett in June 2008; with Chilean President Sebastian Pinera in September. Any other remarkable experiences? Yes. I was in La Paz, (Bolivia), back in the late 1980s – I think it was La Paz – when we ran could contribute and he asked me to serve on on four continents; my goal is to hit all 50. into a mob that was approaching the U.S. Joe Czyzyk the transportation commission. I accepted. Recently, I bought a home in Colorado on the Embassy. We were in a vehicle just outside the Roaring Fork River to satisfy that passion for embassy; we dashed into the embassy grounds TITLE: Chief Executive But then you went over to the taxicab fly-fishing. just before the mob got there. We ended up COMPANY: Mercury Air Group commission. being stuck in the embassy for two days while As soon as I joined the Transportation Com- How are you going to balance fly-fishing the mob circled yelling anti-American slogans. I BORN: Wallenburg (near Warsaw), Poland; mission, it was immediately clear that the taxi- and your other hobbies with all the didn’t feel that my life was threatened, just that 1947 cab franchise issue was so overwhelming that demands of running a company and lead- we didn’t know how long we would be there. EDUCATION: B.S., engineering, California a new commission needed to be formed. So I ing a major chamber of commerce? State University, Los Angeles. and several other members of the Transporta- Well, for this year while I’m chamber chair- You’ve actually flown airplanes as a pilot. tion Commission were selected for this new man, I’ll do a little less fly-fishing. I’ll admit to CAREER TURNING POINTS: Offer by United Did you enjoy it? Why did you stop? commission. For the next 10 years, I served on being a workaholic. However, I’ve been I used to love piloting planes. Sometimes I Air Lines to work at L.A. marketing office; the Taxicab Commission, much of that time as blessed with good people here at Mercury who would fly as often as once a week. It was such leaving El Al Airlines in 1984 to found air president. During that period, the taxicab have stepped up when I have taken on these an exhilarating feeling. But I had a couple of cargo division for Mercury Air Group. industry improved vastly. other civic responsibilities. close calls and decided it was time to close the MOST INFLUENTIAL PEOPLE: Charles logbook on flying. Krause, former Swiss Air executive, “who As incoming chairman of the chamber Are there any places that you haven’t taught me more than anyone else about how board, what are your main goals? been that you’d like to visit? Really? What happened? the aviation industry worked”; Ruen Jobs are the one big key issue. We have to I haven’t spent much time or seen much of On one flight 25 years ago, the landing gear Wertheim, executive at El Al Airlines; former lobby for the creation of new jobs and for poli- Africa. There are 30 countries there and I’ve had problems deploying and the plane very Los Angeles Mayor Richard Riordan, “who cies that foster the creation of jobs. Another only seen a handful. I’d love to go to Ethiopia, nearly landed on its belly. That’s when I decid- encouraged me to get involved in civic key goal is improving the city’s infrastructure. Botswana and Tanzania. And, as I mentioned, ed to call it quits on piloting. To this day, affairs.” When I first came to Los Angeles nearly 50 I would like to go to Antarctica. I’ve been talk- whenever I’m in a plane that’s descending, I years ago, the city had the best street system in ing with a friend of mine about a fishing trip to PERSONAL: Lives in Playa del Rey with his don’t feel a full sense of relief until I hear the the world. It was one of the things I really Tierra del Fuego, right on the southern tip of second wife, Farmina (“Faye”); couple has landing gear lock into place. enjoyed about Los Angeles and a major reason Argentina. From there, you can take a boat or a four children from previous marriages. why Los Angeles was such a fabulous place to plane to Antarctica – at the right time of year, What prompted you to leave El Al Air- ACTIVITIES: Fly-fishing, skiing, golfing, live. Los Angeles no longer has the infrastruc- of course. I imagine there’s not a whole lot to lines? taking walks with wife. ture I remember. Besides making Los Angeles see there, you land there, you walk around a I was recruited to join Mercury Air. I was in a more desirable place to be again, improving bit, you get on a plane and come back. But it’s New York at the time and here was Mercury the infrastructure also creates jobs. Finally, still something I want to see. Air offering me a chance to come back to Los constantly be concerned about quarterly share- there’s education. I see the quality of people Angeles, which is where I really wanted to be. holder return and public perception. Also, in coming out of our schools and, quite frankly, What do you plan to do when you retire? Mercury wanted to start an air cargo division our business, so many publicly traded compa- it’s not something I’m proud of. We’re not I don’t see myself retiring anytime soon. I may and they wanted me to run it. nies have been bought and sold. Now that doing a good enough job here. slow down a bit over the next 10 years or so, we’ve taken the company private, there’s an but I don’t think I’ll ever fully retire. Sure, I’d What was the biggest change for you in opportunity to create a truly great company You list one of your hobbies as fly-fishing. like to do more fly-fishing, but I don’t want to moving to Mercury Air? over the long term. We have no long-term How did you get interested in that? be one of those folks who spends all day on the The company is much more entrepreneurial, debt, which is a big help. A friend of mine from Canada introduced me golf course. which I found very refreshing after the top- to fly-fishing in Quebec and I’ve been hooked down corporate structure of El Al. How did you first get involved in civic ever since. It’s not easy to do; you have to get What’s the best piece of advice that affairs? on a plane or drive to great fly-fishing loca- you’ve received? Mercury went private in 2006. How has For that, I really have to thank former Los tions like the rivers around Mount Shasta. “Never take ‘no’ for an answer.” I really learned that move changed the company? Angeles Mayor Richard Riordan. He was There’s this book out about the world’s 50 best what that meant when I was with the Navy As a publicly traded company, Mercury had to always looking for ways that local executives fly-fishing locations. I’ve been to 32 of them Seabees: We lived by that can-do attitude. Thumbnails LABJ User Guide Front Page Table of Content

FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL 17 6,109 3,503 2,027 1,959 Thumbnails LABJ User Guide Front Page Table of Content 1,647 18 LOS ANGELES BUSINESS JOURNAL FEBRUARY 7, 2011

X NEXT WEEK BUSINESS IMPROVEMENT DISTRICTS The 25 Largest Labor Unions THE LIST Ranked by 2011 budgets in L.A. County

X EXECUTIVE SUMMARY X THE TRENDS X THE PACESETTER

HE 25 largest business improvement HE Downtown Center Busi- districts in Los Angeles County have Largest BIDs ness Improvement District is T a combined budget of $45 million for The largest districts in L.A. County ranked by number of members. T the largest BID in Los Ange- 2011, up 3 percent compared with 2010. les County, with a budget topping Business improvement districts collect Downtown Center $6 million. The district is property assessments from either property owners or Downtown Long Beach Associates based, meaning that all properties merchants within a specific geographical area South Park covered by the district’s 65 city in order to pay for special services. They were blocks pay an assessment into the first allowed in 1994 after the state passed Wilshire Center budget. legislation allowing municipalities to establish LA Fashion District The goal of the district is to foster such districts. The city of Los Angeles has 38 Historic Downtown L.A. economic development initiatives that districts with another 19 districts proposed. San Pedro benefit downtown-area residents and Districts are created with the approval of businesses. Efforts include a twice- property owners or merchants, and must be Hollywood Media District monthly housing tour that’s been Bayside District renewed regularly. Some districts have renew- booked solid despite the economic Carol Schatz al rates as often as once a year, although most 0 500 1,000 1,500 2,000 slowdown. Other projects include the have five- or 10-year charters. They provide Source: Business Journal research Purple Patrol, a group of purple-shirted safety officers and mainte- services such as marketing, security and side- nance staff that provides 24-hour supplemental services to maintain walk maintenance. safety and cleanliness within the district. Many of the local districts are property Expense Report The organization also provides marketing services to the down- based, meaning all of the property owners How the Downtown Center BID spends its budget. town area. The BID publishes a monthly newsletter highlighting within a geographical area pay an assessment events downtown, offers an online calendar of events, and employs to the organization’s budget. However, a few Public Safety people to serve as guides on the streets to give directions and sugges- merchant-based districts have formed in the Maintenance tions to visitors. county. They include the West Hollywood In the fall, the BID conducts a tour for professionals who want Marketing and Visitors Bureau, which was Destination Marketing to learn about opportunities to open new businesses downtown. Last formed by the 18 hotels that are within West year the event brought nearly 300 people, including real estate bro- Hollywood city limits. Management kers, bankers, developers, investors and hospitality executives. Early in 2011, the BID will release a smartphone application that Overall, more than 10,000 property owners Economic Development or merchants are within the boundaries of the will include access to a database of downtown businesses, events, 25 largest business improvement districts in Community Service happy hours and special offers. It will also have visitor features, such the county. They cover a total of about 1,000 05%101520253035 as transportation guides and maps. city blocks. The district, founded in 1998, has 1,752 members. – David Nusbaum Source: Downtown Center BID – David Nusbaum

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 Please see page 20 6,109 3,503 2,027 1,959 Thumbnails LABJ User Guide Front Page Table of Content 1,647 FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL 19

X NEXT WEEK SECURITIES BROKERAGE FIRMS The 25 Largest Labor Unions THE LIST Ranked by number of full-time, registered brokers in L.A. County in L.A. County

X EXECUTIVE SUMMARY X THE TRENDS X THE PACESETTER

ONSOLIDATION among major broker- organ Stanley Smith age firms in 2009 caused significant Fewer Reps Barney tops the list C changes on the list. Large brokerage The number of licensed brokers nationwide declined last year. M of the largest securi- houses merged operations as the economy ties brokerage firms ranked by slowed down in 2008 and 2009. As a result, 680,000 employment in Los Angeles many of the firms listed closed offices and County offices. The New York shed brokers in a trend that mirrored national company has 737 brokers locally, statistics. 660,000 down from 840 a year ago. It The firm with the largest L.A. operation employs 1,185 total people in the remains Morgan Stanley Smith Barney, even 640,000 county including support staff. after it reduced its number of local brokers by Smith Barney served as the 11 percent. 620,000 brokerage arm of Citigroup Inc., It is followed by San Francisco-based which merged wealth manage- Wells Fargo, which acquired Wachovia in ment divisions with Morgan Stan- 600,000 ley in 2009. 2009. Wachovia Securities LLC was the bro- 2002 2003 2004 2005 2006 2007 2008 2009 2010 kerage division of that bank and Wells Fargo After the merger, the company has combined operations of that division with consolidated 28 offices in the L.A. Robert Perry its own Wells Fargo Advisors. The company metro region and continued con- reported 654 brokers in local offices, down solidation. Currently, the firm has 25 local offices. Robert Perry heads slightly from 669 brokers a year ago. Fewer Firms local operations for the company. L.A.-based Farmers Insurance reported Number of FINRA member firms has declined steadily. Morgan Stanley Smith Barney is jointly owned by Morgan Stanley 490 brokers, an 8 percent decline from a year 5,500 and Citigroup. In its most recent fiscal statement, Morgan Stanley ago. cited the joint wealth management group’s strong net growth in new However, two local midsize firms reported 5,250 assets. It said that the increased assets under management show that increases in the number of their brokers. L.A.- 5,000 the two companies are being successfully integrated. The global based Wedbush Securities, the brokerage arm wealth management group reported revenue of $12.6 billion for fiscal of Wedbush Inc., reported 250 brokers, up 4,750 year 2010, up from $9.4 billion in 2009. Pretax net income increased from 229 a year ago. Pasadena-based Western to $1.2 billion in 2010 from $559 million in 2009. 4,500 International Securities Inc. grew from 101 The firm also said that turnover among its representatives was near brokers in local offices last year to 127. 4,250 historic lows. Overall, the company has 1,200 offices worldwide. Overall, the 20 largest securities brokerage – David Nusbaum 4,000 firms employ 3,600 brokers in local offices. 2002 2003 2004 2005 2006 2007 2008 2009 2010 – David Nusbaum Source: Financial Industry Regulatory Authority Inc.

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20 LOS ANGELES BUSINESS JOURNAL THE LIST FEBRUARY 7, 2011

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 Thumbnails LABJ User Guide Front Page Table of Content

FEBRUARY 7, 2011 INVESTMENTS & FINANCE LOS ANGELES BUSINESS JOURNAL 21

L.A.COUNTY ECONOWATCH Staying Subscribe today. As part of your subscription, you %± from will also receive access to  GENERAL INDICATORS Latest Previous previous Year %± from still isn’t the daily electronic Los Angeles period period period ago year ago Business Journal, unlimited on-line 1 Employment (000’s) (Dec.) ...... 4,280.4 4,271.9 +0.2% 4,258.5 +0.5% an option access to our archives, Unemployment (000’s) (Dec.)1 ...... 621.3 638.1 -2.6% 577.8 +7.5% and the Book of Lists published Film Production Days (3rd qtr.)2 ...... 9,713 11,134 -12.8% 9,680 +0.3% Bankruptcies at the end of the year. Chapter 7 (Dec.) ...... 3,290 3,331 -1.2% 2,670 +23.2% Chapter 11 (Dec.) ...... 39 33 +18.2% 31 +25.8% Call toll-free 3 Trade 1.800.404.5225 Exports (mils.) (Nov.)...... $9,066.3 $9,235.3 -1.8% 8,009.8 +13.2% Imports (mils.) (Nov.) ...... $23,684.3 $22,210.7 +6.6% $18,312.9 +29.3% Air cargo4 LAX (Nov.) ...... 159.9 169.3 -5.6% 163.4 -2.1% Burbank (Nov.) ...... 8.1 8.1 0.0% 6.9 +17.4% Container volume5 (000’s) Long Beach (Dec.) ...... 523.3 558.3 -6.3% 467.2 +12.0% Los Angeles (Dec.) ...... 612.7 667.0 -8.1% 563.0 +8.8% Los Angeles CPI (Dec.) ...... 226.6 225.9 +0.3% 223.6 +1.3%

%± from  REAL ESTATE Latest Previous previous Year %± from period period period ago year ago Construction lending (mils.) (Nov.) ...... $74.9 $46.6 +60.7% $102.6 -30.0% Property acquisition lending (mils.)6 (Nov.) ...... $1,599.0 $1,592.5 +0.4% $1,837.5 -13.0% Refinance lending (mils.) (Nov.)7 ...... $7,332.0 $7,087.9 +3.4% $3,886.4 +88.7% Foreclosures Number (Nov.) ...... 1,946 2,537 -23.3% 2,861 -32.0% Value (mils.) (Nov.) ...... $650.3 $910.5 -28.6% $829.2 -21.6% Building contracts (mils.) Residential (Nov.) ...... $102.8 $182.8 -43.8% $124.7 -17.6% Nonresidential (Nov.) ...... $247.9 $385.5 -35.7% $358.0 -30.8% Building permits (mils.) Residential (Dec.) ...... $268.9 $229.2 +17.3% $188.2 +42.9% Nonresidential (Dec.) ...... $216.9 $148.2 +46.4% $171.2 +26.7% Housing start permits (Dec.) ...... 837 783 +6.9% 297 +181.8% Home sales (Jan.) ...... 3,344 3,633 -8.0% 3,702 -9.7% Home prices (000’s) (Jan.) ...... $330 $345 -4.3% $342 -3.5% Condo sales (Jan.) ...... 1,300 1,332 -0.2% 1,408 -7.7% Condo prices (000’s) (Jan.) ...... $293 $290 +1.0% $305 -3.9% Riverside County is responsive to business needs Apartments (3rd qtr.) Gross occupancy ...... 93.9% 93.9% 0.0% 94.4% -0.5% and is willing to open doors for expansion Avg. sq. ft. rent ...... $1.90 $1.89 +0.5% $1.92 -1.0% Avg. monthly rent ...... $1,606 $1,595 +0.7% $1,612 -0.4% Riverside County meets these needs right now

Office vacancy rates (3rd qtr.) Downtown L.A ...... 16.0% 15.7% +1.9% 14.6% +9.6% Are you considering Southern California to San Fernando Valley ...... 18.5% 19.0% -2.6% 17.1% +8.2% relocate or expand your business? West L.A...... 15.6% 15.4% +1.3% 15.1% +3.3% South Bay ...... 19.0% 17.8% +6.7% 16.8% +13.1% X Countywide ...... 17.0% 16.6% +2.4% 15.6% +9.0% Learn about regional incentives

Industrial vacancy rates (3rd qtr.) XMeet key economic development Downtown/Central ...... 2.5% 2.4% +4.2% 2.5% 0.0% South Bay ...... 3.0% 2.8% +7.1% 2.8% +7.1% professionals from the county and cities San Gabriel Valley ...... 3.7% 3.8% -2.6% 4.3% -14.0% Visit us at www.rivcoeda.org or call

%± from 951-955-8916 and ask for our Economic  TOURISM Latest Previous previous Year %± from Development team. month month month ago year ago Hotel occupancy rate (Oct.) ...... 75.0% 72.1% +4.0% 72.6% +3.3% Join us February 9th from 5:30 p.m. - 8:00 p.m. Room rate (Oct.) ...... $144.2 $138.9 +3.8% $140.0 +3.0% Passengers to meet us personally as Riverside County LAX (000’s) (Nov.) ...... 4,679.7 4,988.1 -6.2% 4,419.7 +5.9% hosts a business networking reception at Burbank Airport (000’s) (Nov.)...... 368.2 381.7 -3.5% 377.8 -2.5% the Hilton Hotel during the Medical Design and Manufacturing Show - MD&M West. FOOTNOTES 1. Not seasonally adjusted. 5. 20-foot equivalent unit. Please rsvp to 951-955-2943 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 or email us at [email protected] 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); Economic Development Corp., Los Angeles (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 Ange- les (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). www.RIVCOEDA.org Thumbnails LABJ User Guide Front Page Table of Content

22 LOS ANGELES BUSINESS JOURNAL INVESTMENTS & FINANCE FEBRUARY 7, 2011

THE LABJ STOCK INDEX TRACKING LOS ANGELES-AREA COMPANIES X MARKET DIARY X WEEKLY TOP GAINERS Investors shrugged off concerns about political instability in Egypt and seized on positive economic news to push stocks TOP TEN GAINERS BY PERCENTAGE (with closing prices at least $1) to new post-recession highs during the week ended Feb. 2. The Dow Jones industrial average gained 0.5 percent, closing Feb. 2 Jan. 26 Price 1-Wk 52-Wk YTD above 12,000 for the first time in more than two years. Local stocks outpaced the blue chips as the LABJ Index gained Company Close Close Change % Chg. % Chg. % Chg. nearly 1 percent. A handful of banks benefited from strong earnings, including Beach Business Bank, which announced NCAL Bancorp...... $10.10 $8.60 $1.50 17.4% -17.6% 1.0% a record annual profit. Shares of the Manhattan Beach institution rose 15 percent to a 52-week high of $5.94. Likewise, a Beach Business Bank ...... 5.94 5.15 0.79 15.3% 44.9% 18.8% surprise profit by Hanmi Financial Corp. – its first in two years – pushed shares of the Koreatown bank holding company Bidz.com Inc...... 1.38 1.20 0.18 15.0% -30.3% 13.8% up 11 percent to $1.30. Shareholders were unenthusiastic about a $12 million private placement by Cereplast Inc., an El Mission Valley Bancorp...... 4.25 3.80 0.45 11.8% -16.2% 13.3% Segundo maker of bio-plastics. Shares fell nearly 18 percent to $4.53. American Apparel Inc. took a hit amid ongoing Stamps.com Inc...... 12.76 11.44 1.32 11.5% 63.2% -3.7% financial concerns. Shares of the downtown L.A. clothing company declined nearly 9 percent to $1.05. Hanmi Financial Corp...... 1.30 1.17 0.13 11.1% -9.6% 13.0% THQ Inc...... 6.41 5.78 0.63 10.9% 24.2% 5.8% X MARKET INDEXES Voyager Oil & Gas Inc...... 5.32 4.80 0.52 10.8% 406.7% -1.5% Crown Media Holdings Inc...... 2.49 2.25 0.24 10.7% 72.9% -5.0% Feb. 2 Jan. 26 Point 1-Wk 52-Wk YTD CB Richard Ellis Group Inc...... 24.04 21.80 2.24 10.3% 78.2% 17.4% Index Close Close Change % Chg. % Chg. % Chg. X WEEKLY TOP LOSERS Dow Jones Industrial ...... 12,041.97 11,985.44 56.53 0.5% 16.9% 4.0% NASDAQ ...... 2,749.56 2,739.50 10.06 0.4% 25.5% 3.6% TOP TEN LOSERS BY PERCENTAGE (with opening prices at least $1) S&P 500 ...... 1,304.03 1,296.63 7.40 0.6% 18.2% 3.7% Feb. 2 Jan. 26 Price 1-Wk 52-Wk YTD LABJ Index ...... 139.76 138.47 1.29 0.9% 18.2% 3.0% Company Close Close Change % Chg. % Chg. % Chg.

X INDUSTRY ANALYSIS CrowdGather Inc...... $1.27 $1.86 -$0.59 -31.7% -17.5% -19.1% Sport Chalet Inc...... 2.37 3.08 -0.71 -23.1% 14.5% -36.6% Feb. 2 Jan. 26 Point 1-Wk 52-Wk YTD Cereplast Inc...... 4.53 5.51 -0.98 -17.8% -11.4% 9.4% Index Close Close Change % Chg. % Chg. % Chg. Preferred Bank ...... 1.52 1.84 -0.32 -17.4% 11.8% -13.6% Reed's Inc...... 2.60 2.98 -0.38 -12.8% 78.1% 29.4% AEROSPACE/DEFENSE ...... 223.36 219.93 3.42 1.6% 12.3% 8.0% CyberDefender Corp...... 2.11 2.41 -0.30 -12.4% -50.8% -31.0% APPAREL ...... 113.01 115.39 -2.39 -2.1% -2.8% -8.1% Cherokee Inc...... 16.45 18.50 -2.05 -11.1% 1.9% -12.5% AUTOMOTIVE/PLASTICS/METALS ...... 320.18 318.46 1.72 0.5% 35.2% 5.5% Broadway Financial Corp...... 2.16 2.41 -0.25 -10.4% -66.8% -11.1% K-Swiss Inc...... 11.55 12.75 -1.20 -9.4% 26.6% -7.4% BIOMEDICAL/PHARMACEUTICAL...... 80.59 81.80 -1.21 -1.5% -8.1% 0.5% American Apparel Inc...... 1.05 1.15 -0.10 -8.7% -63.5% -36.7% COMPUTERS/PERIPHERALS/ELECTRONICS . . .23.06 22.14 0.93 4.2% 61.6% 5.3% CONSTRUCTION/ENGINEERING ...... 288.01 293.12 -5.11 -1.7% 18.3% 6.7% X MARKET SUMMARY ENERGY/UTILITIES...... 447.17 441.61 5.56 1.3% 18.7% 0.2% MOST ACTIVE STOCKS WEEKLY SUMMARY FINANCIAL SERVICES...... 166.95 167.49 -0.54 -0.3% 36.2% 3.4% HEALTH CARE...... 426.56 426.24 0.32 0.1% 22.4% 1.9% TOP TEN STOCKS VOLUME Advances ...... 88 Declines...... 93 INSURANCE ...... 144.97 146.93 -1.96 -1.3% 15.5% 1.2% Activision Blizzard Inc...... 52,850,650 Unchanged ...... 19 INTERNET ...... 114.48 114.87 -0.39 -0.3% 41.9% -1.4% Walt Disney Co...... 49,464,822 New Highs ...... 23 MEDIA/LEISURE/ENTERTAINMENT ...... 92.95 91.40 1.56 1.7% 17.6% 6.5% Power-One Inc...... 34,830,911 New Lows ...... 6 Occidental Petroleum Corp...... 31,673,369 MANUFACTURING ...... 139.00 139.18 -0.18 -0.1% 18.4% -2.9% NOTES ON STOCK TABLES MISC. SERVICES ...... 175.63 177.03 -1.40 -0.8% 46.8% 3.5% Amgen Inc...... 28,602,448 Hanmi Financial Corp...... 27,706,367 REAL ESTATE ...... 567.17 553.19 13.98 2.5% 55.6% 6.4% Tables based on Jan. 26 - Feb. 2 CB Richard Ellis Group Inc...... 25,766,147 RESTAURANTS/RETAIL/GROCERY STORES. . .176.79 180.70 -3.91 -2.2% 32.5% -3.2% DirecTV ...... 25,393,894 (H) Stock hit new 52-week high SOFTWARE ...... 696.24 675.44 20.79 3.1% 6.5% -5.8% Mattel Inc...... 21,741,090 (L) Stock hit new 52-week low MannKind Corp...... 20,075,374 (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.

EventNEW Format!

COMMERCIAL REAL ESTATE AWARDS

The Los Angeles Business Journal is proud to announce the 2011 Commercial Real Estate Awards. We invite you to join us as we recognize the biggest, best, and most notable commercial real estate projects of 2010. We’ll be honoring the developer, architect and general contractor of each award winning project. In addition, we’ll recognize the most successful broker/broker teams in the market! Winners will be announced at the Commercial Real Estate Awards reception on February 24, 2011.

Awards Reception: Individual Tickets: $75 Thursday, February 24, 2011 To register to attend this event, please visit 5:30pm to 7:30pm www.labusinessjournal.com/bizevents or contact Marissa De La Cruz at Location: [email protected] Century Plaza Hyatt Regency 2025 Avenue of the Stars Los Angeles, 90067

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FEBRUARY 7, 2011 INVESTMENTS & FINANCE LOS ANGELES BUSINESS JOURNAL 23

S TOP GAINERS T TOP LOSERS THE LABJ STOCK INDEX TRACKING LOS ANGELES-AREA COMPANIES Feb. 2 1-Wk YTD 52-Wk P.E. Mkt. Cap Feb. 2 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 Imaging3 Inc. IMGG $0.16 0.3% 3.3% -69.0% NA $60.1 Aerovironment Inc. AVAV $29.27 3.4% 9.1% -2.8% 34.0 $638.8 InstaCare Corp. ISCR 0.07 -7.1% 30.0% -48.0% NA 6.5 AML Communications Inc. AMLJ 1.42 2.9% 6.0% 10.9% 10.9 15.3 IPC The Hospitalist Co Inc. IPCM 37.72 -1.6% -3.3% 9.5% 26.9 613.4 Ducommun Inc. DCO 22.06 -2.0% 1.3% 24.1% 12.8 231.6 Molina Healthcare Inc. (H) MOH 30.87 -1.4% 10.8% 36.7% 24.7 933.5 Flamemaster Corp. FAME 5.00 0.0% 2.0% 19.0% 10.7 6.3 RadNet Inc. RDNT 3.71 10.1% 31.6% 48.4% NA 137.2 Northrop Grumman Corp. NOC 69.88 1.6% 7.9% 20.1% 11.3 20,404.2 VCA Antech Inc. WOOF 22.59 -3.1% -3.0% -12.6% 16.6 1,946.7 Teledyne Technologies Inc. (H) TDY 48.27 1.4% 9.8% 28.4% 15.6 1,752.2 INSURANCE APPAREL Mercury General Corp. MCY 42.66 -1.9% -0.8% 10.8% 14.6 2,337.8 T American Apparel Inc. APP 1.05 -8.7% -36.7% -63.5% NA 75.0 Paula Financial PFCO 0.06 50.0% 0.0% 28.6% 0.3 0.4 T Cherokee Inc. CHKE 16.45 -11.1% -12.5% 1.9% 13.5 146.3 Unico American Corp. (H) UNAM 9.75 3.2% 6.7% 3.9% 24.4 51.8 Guess? Inc. GES 42.99 0.0% -9.2% 6.2% 14.3 3,955.5 Wesco Financial Corp. WSC 379.42 -0.9% 3.0% 6.6% 38.5 2,701.4 Horiyoshi Worldwide Inc. HHWW 0.90 -51.3% -47.1% NA NA 54.0 INTERNET Hot Topic Inc. HOTT 5.49 -2.4% -12.7% 10.6% 49.9 244.7 S Bidz.com Inc. BIDZ 1.38 15.0% 13.8% -30.3% NA 27.0 Ironclad Performance Wear Corp. ICPW 0.10 11.1% 0.0% -16.7% NA 7.3 J2 Global Communications Inc. JCOM 28.38 -0.4% -2.0% 36.1% 17.1 1,294.3 Joe's Jeans Inc. JOEZ 1.57 -2.5% 1.0% -7.6% 17.4 100.1 MMRGlobal Inc. MMRF 0.07 -7.9% -23.1% -12.5% NA 16.0 T K-Swiss Inc. KSWS 11.55 -9.4% -7.4% 26.6% NA 407.3 ReachLocal Inc. RLOC 22.73 -3.2% 14.2% NA NA 634.3 People's Liberation Inc. PPLB 0.08 7.1% -31.8% -64.3% NA 2.7 Spark Networks Inc. LOV 3.10 0.7% 4.4% 5.1% 13.5 63.8 Skechers U.S.A. Inc. SKX 21.34 1.5% 6.7% -28.3% 6.5 1,018.1 S Stamps.com Inc. STMP 12.76 11.5% -3.7% 63.2% 20.3 183.1 Talon International Inc. TALN 0.13 30.0% 23.8% 44.4% NA 2.6 United Online Inc. UNTD 7.23 -0.1% 9.5% 11.2% 10.5 621.6 True Religion Apparel Inc. TRLG 20.05 -3.9% -9.9% 2.3% 11.0 510.4 ValueClick Inc. VCLK 14.09 -0.8% -12.1% 46.9% 15.2 1,137.7 AUTOMOTIVE/PLASTICS/METALS MANUFACTURING Motorcar Parts of America Inc. MPAA 14.61 -1.1% 12.0% 150.2% 15.9 176.1 American Metal & Technology Inc. AMGY 0.60 66.7% 66.7% 33.3% 18.2 7.2 Reliance Steel & Aluminum Co RS 54.66 1.6% 7.0% 26.8% 16.4 4,078.0 Avery Dennison Corp. AVY 41.11 -2.9% -2.9% 22.6% 12.9 4,498.1 Superior Industries International Inc. SUP 20.04 -2.8% -5.6% 34.7% 18.9 535.6 BioSolar Inc. BSRC 0.12 -1.7% 22.9% -18.6% NA 18.1 US Auto Parts Network Inc. PRTS 8.80 -7.1% 4.8% 48.9% 51.8 267.6 T Cereplast Inc. CERP 4.53 -17.8% 9.4% -11.4% NA 58.9 BIOMEDICAL/PHARMACEUTICAL Dole Food Co Inc. DOLE 14.22 0.2% 5.3% 25.3% 52.7 1,254.6 Amgen Inc. AMGN 55.63 -1.5% 1.3% -6.1% 11.6 52,560.1 Ever-Glory International Group Inc. EVK 2.28 -4.6% 8.1% -45.2% 8.4 33.6 Arrowhead Research Corp. ARWR 0.94 7.9% 5.0% 56.7% NA 67.5 Farmer Bros Co (L) FARM 12.58 -7.3% -29.3% -28.3% NA 203.3 CytRx Corp. CYTR 0.81 -0.5% -20.2% -32.3% NA 88.0 Jakks Pacific Inc. JAKK 17.42 -0.7% -4.4% 55.8% 11.9 481.1 Iris International Inc. IRIS 10.23 6.5% 0.0% -1.1% 33.7 185.6 Mattel Inc. MAT 24.37 1.5% -4.2% 17.1% 13.4 8,744.7 MannKind Corp. (L) MNKD 5.15 -2.0% -36.1% -46.4% NA 642.6 OSI Systems Inc. (H) OSIS 38.39 1.4% 5.6% 43.6% 25.3 726.8 Obagi Medical Products Inc. OMPI 10.56 -1.4% -8.6% -3.6% 16.5 232.7 Overhill Farms Inc. OFI 6.06 -0.5% 5.2% 40.9% 12.6 95.9 Physicians Formula Holdings Inc. FACE 3.62 -2.2% -3.7% 59.5% NA 49.2 T Reed's Inc. REED 2.60 -12.8% 29.4% 78.1% NA 27.0 Oxis International Inc. OXIS 0.15 26.1% 0.0% -27.9% NA 21.0 Virco Manufacturing VIRC 3.13 6.1% 18.6% -10.3% NA 44.5 Response Genetics Inc. RGDX 2.35 -1.7% -5.2% 75.4% NA 43.0 MEDIA/LEISURE/ENTERTAINMENT Staar Surgical Co STAA 5.34 -5.3% -12.5% 40.8% 106.8 187.0 AMHN Inc. AMHN 0.03 25.0% -19.4% -98.4% NA 0.4 COMPUTERS/PERIPHERALS/ELECTRONICS S Crown Media Holdings Inc. CRWN 2.49 10.7% -5.0% 72.9% NA 895.6 Aura Systems Inc. AUSI 0.79 -1.3% 5.3% 0.0% NA 45.4 Daily Journal Corp. DJCO 71.01 -2.7% -1.4% 10.5% 12.8 98.0 GTX Corp. GTXO 0.06 -14.7% -22.7% -65.9% NA 2.7 Derycz Scientific Inc. DYSC 3.00 -1.6% 13.2% 440.5% NA 39.3 Innovative Card Technologies Inc. (L) INVC 0.07 -44.0% -46.2% -66.7% 3.5 2.3 DirecTV DTV 42.61 -0.1% 6.7% 34.8% 19.2 35,524.9 Interlink Electronics Inc. LINK 0.35 25.0% 25.0% 7.7% NA 4.8 DreamWorks Animation SKG Inc. DWA 28.70 0.0% -2.6% -28.7% 17.6 2,418.2 International Rectifier Corp. (H) IRF 32.59 5.0% 9.8% 63.6% 14.7 2,276.1 DTS Inc. DTSI 45.72 2.7% -6.8% 62.7% 58.6 783.6 Ixia XXIA 16.04 3.2% -4.4% 123.4% 320.8 1,067.1 Entravision Communications Corp. EVC 2.39 2.6% -7.0% -19.0% 23.9 202.9 MRV Communications Inc. MRVC 1.74 0.6% -2.8% 107.1% 13.4 273.0 Image Entertainment Inc. DISK 0.15 0.0% 7.1% -33.4% NA 12.9 PC Mall Inc. MALL 7.24 4.5% -4.4% 37.1% 22.6 87.8 Lions Gate Entertainment Corp. LGF 6.25 1.0% -4.0% 22.3% NA 853.8 Power-One Inc. PWER 11.79 8.4% 15.6% 256.2% 16.4 1,257.7 Live Nation Entertainment Inc. LYV 10.76 0.6% -5.8% -6.4% NA 1,867.6 Qualstar Corp. QBAK 1.94 1.6% 14.8% -13.0% NA 23.8 NeuMedia Inc. (L) MNDL 0.28 0.0% -3.4% -37.8% NA 10.1 Semtech Corp. SMTC 22.14 0.0% -2.2% 43.3% 21.7 1,402.7 National Lampoon Inc. NLMP 0.05 66.7% 66.7% -61.5% NA 0.5 Taitron Components Inc. TAIT 1.35 0.0% -14.6% -4.9% NA 7.5 Point.360 PTSX 0.88 -3.3% 0.0% -32.8% NA 9.5 Trio Tech International TRT 5.07 -0.6% 21.6% 28.4% 39.0 16.7 Provision Holding Inc. PVHO 0.08 0.7% 25.0% -68.8% NA 3.2 Vitesse Semiconductor Corp. VTSS 5.55 6.5% 32.5% 0.9% NA 133.1 Reading International Inc. RDI 5.00 -0.8% -1.0% 27.2% NA 120.0 CONSTRUCTION/ENGINEERING RealD Inc. RLD 23.34 -6.4% -10.0% NA NA 1,146.0 Aecom Technology Corp. ACM 29.28 -1.9% 4.7% 7.6% 13.9 3,470.8 Salem Communications Corp. SALM 3.14 1.9% -0.9% -32.5% 44.9 75.8 Ameron International Corp. AMN 71.23 -6.0% -6.7% 9.1% 30.2 659.0 Sports Club Inc. SCYL 0.25 0.0% 0.0% -28.6% NA 5.4 Jacobs Engineering Group Inc. JEC 52.13 -1.7% 13.7% 39.6% 21.5 6,588.4 Stratus Media Group Inc. SMDI 0.42 -6.7% -34.4% -72.0% NA 26.7 KB Home KBH 14.91 -4.1% 10.5% -8.0% NA 1,147.7 Tix Corp. TIXC 1.52 9.4% 22.6% 8.6% NA 47.3 Ryland Group Inc. RYL 17.85 -2.1% 4.8% -25.5% NA 787.6 Walt Disney Co. (H) DIS 40.49 2.7% 7.9% 35.1% 19.6 76,671.2 Tetra Tech Inc. TTEK 24.22 0.4% -3.4% 12.4% 19.7 1,495.8 Warner Music Group Corp. WMG 5.58 4.9% -0.9% 11.8% NA 864.6 Tutor Perini Corp. TPC 23.40 -0.3% 9.3% 21.1% 9.8 1,101.9 MISC. SERVICES ENERGY/UTILITIES Cadiz Inc. CDZI 11.98 -7.4% -3.7% 3.4% NA 163.9 American States Water Co AWR 34.08 -2.9% -1.1% 2.1% 19.8 634.6 Electro Rent Corp. ELRC 15.84 0.3% -2.0% 37.1% 22.0 379.8 BNK Petroleum Inc. BKX 4.73 -7.1% 37.6% 181.9% NA 672.0 Enova Systems Inc. ENA 1.20 0.3% -6.4% -42.6% NA 37.7 BreitBurn Energy Partners LP (H) BBEP 22.79 3.9% 13.2% 58.4% 15.6 1,214.9 Korn/Ferry International (H) KFY 24.05 1.9% 4.1% 57.2% 28.0 1,116.0 Capstone Turbine Corp. CPST 1.24 2.5% 29.2% 5.1% NA 305.9 Cavitation Technologies Inc. (L) CVAT 0.11 0.0% -24.1% -50.0% NA 14.8 National Technical Systems Inc. NTSC 7.76 1.2% -3.8% 42.5% 12.7 78.7 Edison International EIX 36.64 -1.8% -5.1% 7.8% 10.5 11,937.7 NetSol Technologies Inc. NTWK 2.15 -2.3% 15.0% 110.8% 19.5 105.3 Occidental Petroleum Corp. (H) OXY 98.66 1.8% 0.6% 22.1% 17.3 80,169.7 On Assignment Inc. ASGN 8.52 2.9% 4.5% 21.5% 60.9 311.5 U.S. China Mining Group Inc. SGZH 5.50 -4.3% -13.5% -29.9% 12.8 82.1 Rentech Inc. RTK 1.25 -2.3% 2.5% 0.8% NA 277.8 S Voyager Oil & Gas Inc. VYOG 5.32 10.8% -1.5% 406.7% 40.9 241.2 Scope Industries SCPJ 176.00 0.0% 36.4% 41.1% 54.5 175.8 FINANCIAL SERVICES Simon Worldwide Inc. SWWI 0.33 0.0% 34.4% 17.9% NA 16.7 1st Century Bancshares Inc. FCTY 4.21 -0.5% 2.7% 23.8% NA 41.1 Sionix Corp. SINX 0.04 -2.4% -20.0% -65.1% 4.0 9.3 American Business Bank AMBZ 24.30 -0.8% -0.8% 7.5% 11.1 96.6 UTi Worldwide Inc. (H) UTIW 21.73 -2.1% 2.5% 58.7% 35.6 2,213.0 Anworth Mortgage Asset Corp. ANH 6.95 0.4% -0.7% -2.0% 7.2 839.8 REAL ESTATE Bank of Santa Clarita (H) BSCA 8.50 6.3% 22.3% 21.4% 25.8 14.6 Alexandria Real Estate Equities Inc. ARE 76.98 -0.5% 5.1% 25.2% 41.4 4,260.0 S Beach Business Bank (H) BBBC 5.94 15.3% 18.8% 44.9% NA 23.9 S CB Richard Ellis Group Inc. (H) CBG 24.04 10.3% 17.4% 78.2% 38.8 7,762.4 T Broadway Financial Corp. BYFC 2.16 -10.4% -11.1% -66.8% NA 3.8 Douglas Emmett Inc. DEI 18.25 2.4% 9.9% 28.3% NA 2,253.8 California United Bank CUNB 12.90 2.8% 4.5% 20.0% NA 63.7 HCP Inc. HCP 37.04 1.5% 0.7% 25.1% 36.3 13,738.0 Cathay General Bancorp CATY 17.97 1.2% 7.6% 88.0% 599.0 1,411.1 Hudson Pacific Properties Inc. (L) HPP 14.50 -2.4% -3.7% NA NA 322.2 Center Financial Corp. CLFC 7.53 0.9% -0.7% 49.1% NA 300.5 Intergroup Corp. INTG 21.99 -0.7% 1.8% 139.3% NA 53.3 City National Corp. CYN 58.27 -0.6% -5.0% 17.2% 25.3 3,036.9 Kennedy-Wilson Holdings Inc. KW 10.76 2.0% 7.7% 15.7% NA 433.6 Colony Financial Inc. (H) CLNY 20.44 0.5% 2.1% 3.3% 26.9 299.1 Kilroy Realty Corp. (H) KRC 39.02 3.3% 7.0% 32.2% 177.4 2,042.7 East West Bancorp Inc. EWBC 22.00 0.8% 12.5% 33.4% 25.8 3,256.1 LTC Properties Inc. LTC 27.28 -1.1% -2.8% 4.4% 23.7 715.5 Farmers & Merchants Bank (H) FMBL 4250.00 -2.3% 7.1% 10.4% 10.5 556.4 Macerich Co. MAC 48.15 1.1% 1.6% 52.6% 326.7 6,264.8 First California Financial Group Inc. FCAL 3.17 2.3% 13.2% 10.1% NA 89.3 MPG Office Trust Inc. MPG 3.69 6.3% 34.2% 130.6% NA 177.6 First Commerce Bancorp FCCC 4.68 0.0% 0.0% 122.9% NA 42.8 Meruelo Maddux Properties Inc.* (H) MMPIQ 0.50 61.3% 78.6% 809.1% NA 44.0 General Finance Corp. (H) GFN 2.74 9.6% 38.4% 114.1% NA 60.3 Pacific Office Properties Trust Inc. PCE 2.94 -4.9% -29.5% -26.2% NA 56.9 Great American Group Inc. GAMR 0.46 -22.0% -6.1% -88.1% NA 14.1 Portsmouth Square Inc. PRSI 23.00 0.0% 0.0% 33.3% NA 16.9 Green Dot Corp. GDOT 62.29 -3.1% 9.8% NA NA 2,603.4 PS Business Parks Inc. PSB 58.04 -1.9% 4.2% 22.5% 39.8 1,429.0 S Hanmi Financial Corp. HAFC 1.30 11.1% 13.0% -9.6% NA 196.6 Public Storage (H) PSA 109.13 2.0% 7.6% 34.5% 43.1 19,501.8 Kaiser Federal Financial Group Inc. KFFG 12.00 1.7% 3.6% -2.0% 32.0 114.7 Santa Fe Financial Corp. SFEF 13.50 0.0% 2.2% 68.8% NA 16.8 Malaga Financial Corp. MLGF 17.90 0.0% 17.4% 43.2% 10.1 103.8 Thomas Properties Group Inc. TPGI 3.83 -0.5% -9.2% 37.8% NA 188.7 Manhattan Bancorp MNHN 5.30 0.0% 2.9% -3.6% NA 21.1 RESTAURANTS/RETAIL/GROCERY S Mission Valley Bancorp (H) MVLY 4.25 11.8% 13.3% -16.2% NA 10.5 99 Cents Only Stores NDN 14.80 -4.0% -7.2% 11.3% 14.2 1,034.8 Nara Bancorp Inc. NARA 9.99 1.7% 1.4% 9.8% NA 379.3 Arden Group Inc. ARDNA 80.00 -4.5% -3.0% -20.1% 13.3 252.9 S NCAL Bancorp NCAL 10.10 17.4% 1.0% -17.6% NA 23.6 Big 5 Sporting Goods Corp. BGFV 12.65 -8.7% -17.2% -14.1% 11.7 276.0 Pacific Commerce Bank PFCI 3.75 0.0% 25.0% -8.5% NA 9.2 California Pizza Kitchen Inc. CPKI 16.10 -2.7% -6.8% 13.2% 19.9 395.7 PennyMac Mortgage Investment Trust (H) PMT 18.44 -0.3% 1.6% 13.5% 12.9 310.4 Cheesecake Factory Inc. CAKE 29.92 -2.0% -2.4% 36.3% 22.2 1,773.0 T Preferred Bank PFBC 1.52 -17.4% -13.6% 11.8% NA 100.3 DineEquity Inc. DIN 53.10 3.0% 7.5% 121.2% 23.3 957.0 SearchMedia Holdings Ltd. IDI 3.02 1.3% -2.9% -50.1% NA 63.0 Grill Concepts Inc. GLLC 0.20 0.0% -31.0% -48.7% NA 1.8 Saehan Bancorp SAEB 0.35 0.0% -10.3% -56.3% NA 4.2 Jerry's Famous Deli Inc. DELI 3.50 0.0% 0.0% 11.1% 11.3 16.4 Wilshire Bancorp Inc. WIBC 6.47 -0.3% -15.1% -27.9% NA 190.8 T Sport Chalet Inc. SPCHB 2.37 -23.1% -36.6% 14.5% NA 33.8 HEALTH CARE SOFTWARE Apollo Medical Holdings Inc. (H) AMEH 0.21 49.1% 39.2% 62.1% NA 5.8 Activision Blizzard Inc. ATVI 11.69 3.0% -6.0% 14.0% 19.5 14,098.5 Compumed Inc. CMPD 0.10 -5.0% 5.6% -44.1% NA 2.6 Artificial Life Inc. ALIF 0.78 -3.2% -23.5% -44.3% 4.6 49.8 T CrowdGather Inc. CRWG 1.27 -31.7% -19.1% -17.5% NA 59.0 T CyberDefender Corp. CYDE 2.11 -12.4% -31.0% -50.8% NA 57.4 Emergent Group Inc. LZR 6.10 -5.3% -6.7% -21.2% 13.9 42.1 Guidance Software Inc. GUID 7.25 0.6% 0.8% 35.0% NA 178.4 Health Net Inc. (H) HNT 29.78 1.9% 9.1% 21.0% 12.8 2,845.6 Peerless Systems Corp. PRLS 3.22 -0.6% 2.2% 23.4% 12.9 10.8 Hemacare Corp. HEMA 0.41 -16.3% -25.5% -19.6% NA 4.2 Simulations Plus Inc. SLP 3.21 0.9% 19.3% 93.4% 24.7 49.8 Herbalife Ltd. HLF 67.12 1.5% -1.8% 64.9% 15.5 3,976.2 S THQ Inc. THQI 6.41 10.9% 5.8% 24.2% NA 435.5 * Reorganizing under Chapter 11 Thumbnails LABJ User Guide Front Page Table of Content

24 LOS ANGELES BUSINESS JOURNAL DATA BANK FEBRUARY 7, 2011

 CONVENTIONS  CALENDAR Tuesday, Feb. 15 Wednesday, Feb. 23 Optimizing Your Job Search Networking Breakfast • Stem Diversity Career Expo Tuesday, Feb. 8 Sponsor: Challenger Networking Group Sponsor: Greater San Fernando Valley Chamber of Feb. 24 Commerce Selling Is a Science Noon (631) 421-9421, ext.10 7:15 a.m. Sponsor: VEDC Zen Buffet Braemar County Club 4 p.m. 21610 Victory Blvd., Woodland Hills Festival of Brides $11 lunch 4001 Reseda Blvd., Tarzana • 5121 Van Nuys Blvd., Van Nuys March 12-13 $10 (818) 992-4270 $25 (818) 907-9922 (818) 989-3836 (310) 577-7788 Wednesday, Feb. 16 Foreclosure Workshop Mark Emmert, NCAA president • Telemundo Health Expo Sponsor: California Foreclosure Institute Breakfast Mixer Sponsor: Town Hall Los Angeles March 13 Sponsor: Long Beach Area Chamber of Commerce 11:30 a.m. 5:30 p.m. (213) 926-1483 San Gabriel Library 7:15 a.m. Millennium Biltmore Hotel 500 S. Del Mar Ave., San Gabriel Holiday Inn 506 S. Grand Ave., downtown Los Angeles Free 2640 N. Lakewood Blvd., Long Beach Free • Southern California Boat Show (310) 379-0101 $30 (RSVP required) (213) 628-8141 March 17-20 (562) 590-9234 (714) 633-7581 Wednesday, Feb. 9 Business After Hours Mixer After-Hours Business Mixer Sponsor: Alhambra Chamber of Commerce Los Angeles Home & Garden Show How to Defend Against Federal Investigation 5:30 p.m. • Sponsor: Glendale Chamber of Commerce Sponsor: Beverly Hills Bar Association Wells Fargo March 18-20 5:30 p.m. Noon 1910 W. Main St., Alhambra (800) 999-5400 Lawry’s the Prime Rib Jax Bar & Grill $15 100 N. La Cienega Blvd., Beverly Hills 339 N. Brand Blvd., Glendale (626) 282-8481 Travel and Adventure Show $125 $15 • (310) 601-2422 (818) 240-7870 March 19-20 Networking Mixer (213) 237-5876 Sponsor: West Hollywood Chamber of Commerce Business and Social Hour 6 p.m. Sponsor: Greater San Fernando Valley Chamber of Thursday, Feb. 17 Capital Grille • Adultcon Commerce Networking at Noon March 25-27 4:30 p.m. Sponsor: Santa Fe Springs Chamber of Commerce 8614 W. Beverly Blvd., West Hollywood Free (310) 859-6900 Braemar County Club 11:30 a.m. (323) 650-2688 4001 Reseda Blvd., Tarzana Portofino Dub Magazine Custom Auto Show Free 651 Whittier Blvd., La Habra Saturday, Feb. 26 • (818) 989-3836 $17 March 27 (562) 944-1616 Investing in Real Estate Loans (626) 336-3821 Friday, Feb. 11 Sponsor: UCLA Extension 10 a.m. Networking Breakfast Tuesday, Feb. 22 1010 Westwood Center • Hemp Con Sponsor: Beverly Hills Chamber of Commerce 1010 Westwood Blvd., Westwood April 1-3 8 a.m. Accounting & Bookkeeping $195 (626) 961-6522 Ruth’s Chris Steak House Sponsor: VEDC (310) 206-1579 224 S. Beverly Drive, Beverly Hills 4 p.m. $30 5121 Van Nuys Blvd., Van Nuys • Reality Rocks (310) 248-1000 $10 April 8-10 (818) 907-9922 (323) 525-2121 Saturday, Feb. 12 To be considered for publication, Calendar listings should be submitted at least three weeks in advance Best Practices in Negotiation Foreclosure Workshop Latinos for Hire Job Fair Sponsor: California Foreclosure Institute of the event. Listings can be submitted by e-mail to • Sponsor: UCLA Extension April 13 5:30 p.m. [email protected] or by mail to: 8 a.m. (888) 550-3777 Lindbrook Center Angela Iacobini Library Los Angeles Business Journal 10920 Lindbrook Drive, Westwood 4900 Clark Ave., Lakewood Calendar $165 Free 5700 Wilshire Blvd. #170 (310) 825-2012 (310) 379-0101 Los Angeles, CA 90036 L.A. Convention Center, (213) 741-1151, ext. 5340

Chapter: 11 Millenniun Records Inc. West Valley United Inc. Assets: $411  BANKRUPTCIES Assets: N/A (Single-asset real estate) (Investment) Debts: $18,991 Debts: N/A 7100 Hayenhurst Ave. 4924 Balboa Blvd., Suite #333 Doc# LA11-11510-BR DNL Inc. Doc# LA11-11698-PC Van Nuys 91406 Encino 91316 File-Date: 01/12/11 (Business type N/A) File-Date: 01/13/11 Chapter: 7 Chapter: 7 George L. Young 10702 Moorpark St. Troy A. Stewart Assets: $1,200,000 Assets: N/A 626-795-9699 Toluca Lake 91602 626-616-9474 Debts: $1,536,343 Debts: N/A Chapter: 7 Doc# SV11-10320-GM Doc# SV11-10428-GM 339-202 Palm Inc. Assets: N/A Sunset 661 Investments Inc. File-Date: 01/07/11 File-Date: 01/11/11 (Investment) Debts: N/A (Investment) Steven M. Gluck Pro-per. 741 W. 24th St., Suite #17 818-887-8205 Doc# SV11-10177-MT 3524 Tournament Drive San Pedro 90731 File-Date: 01/06/11 Palmdale 93551 T2 Holding Inc. Chapter: 7 BH Investment & Management Inc. Pro-per. Chapter: 7 (Real estate) Assets: N/A (Business type N/A) 5737 Manton Ave. Debts: N/A Assets: N/A 4708 Fountain Ave. Scott V. Hazarian Doc# LA11-11558-BB Debts: N/A L.A. 90029 Woodland Hills 91364 DBA: Sofa Interiors Interiors Doc# LA11-10734-PC Chapter: 7 File-Date: 01/12/11 (Sofas, chairs, ottomans, etc.) Chapter: 7 File-Date: 01/06/11 Assets: $1,254,000 Pro-per. 1269 Irving Ave. Assets: $2,022,738 Pro-per. Debts: $4,618,271 Debts: $6,524,731 Glendale 91201 Doc# SV11-10437-GM 23414 Clarendon Inc. Chapter: 11 Doc# LA11-11165-TD Valley Christian Center Church of File-Date: 01/11/11 (Investment) Assets: N/A File-Date: 01/10/11 Los Angeles Pro-per. Charles Shamash 23414 Clarendon St. Debts: N/A (Non-profit corp.) 310-205-3400 Woodland Hills 91367 Doc# LA11-11400-RN 1404 W. Gladstone St. Progressive Gaming Group Inc. Chapter: 7 File-Date: 01/11/11 (Business type N/A) Voyager’s Club Inc. Assets: N/A James T. King San Dimas 91773 432 E. Garvey Ave. (Travel agency) Debts: N/A 818-242-1100 Chapter: 7 Assets: $2,102,500 Monterey Park 91755 2 E. Valley Blvd., Unit #1G Doc# SV11-10469-MT Chapter: 7 Alhambra 91801 File-Date: 01/12/11 Xtreme Medical Inc. Debts: $891,000 Doc# LA11-10842-PC Assets: $60 Chapter: 7 Pro-per. (Medical equipment & supplies) Debts: $305,921 5580 Imperial Hwy. File-Date: 01/07/11 Pro-per. Doc# LA11-11312-BR South Gate 90280 File-Date: 01/11/11 Bankruptcy information is supplied by Timely Info of Los Angeles, Jack Vaughn (323) 664-4423. Chapter: 11 Paul Horn Chapter 7: a “straight” liquidation bankruptcy involving an appointed trustee to sell all assets by Universal Construction Maintenance Assets: N/A 626-695-7310 auction or other means to pay creditors and trustee fees. Debts: N/A Integration Co. Inc. Chapter 11: a process which allows a business to gain temporary relief from paying debt in order to (Business type N/A) attempt a successful reorganization. The debtor remains in control of the business during the bank- Doc# LA11-11594-BB 115566 LLC ruptcy and the business continues to function. File-Date: 01/12/11 725 Battery St. (Business type N/A) San Pedro 90731 Chapter 13: a bankruptcy plan available to individuals whose “income is sufficiently stable and reg- M. Jonathan Hayes 11835 Kling St. ular to enable such individual to make payments under a plan.” The debtor makes payments to a 818-882-5600 Chapter: 7 Valley Village 91607 trustee who disburses the funds to creditors. Assets: $4,500 Chapter: 7 Involuntary bankruptcy: the debtor is forced into bankruptcy by secured creditors whose claims Richard Stephen Kvassay Debts: $2,781,759 Assets: N/A total at least $220,000. Involuntary bankruptcy may be filed under Chapter 7 or 11. DBA: Sierra Packaging Co. Doc# LA11-10903-ER Debts: N/A AKA: also known as FKA: formerly known as (Paper box maker) File-Date: 01/07/11 Doc# LA11-11352-BR DBA: doing business as FAW: formerly associated with 1035-C Westminster Ave. David L. Oberg File-Date: 01/11/11 FDBA: formerly doing business as Alhambra 91803 818-223-9384 Pro-per. Thumbnails LABJ User Guide Front Page Table of Content

FEBRUARY 7, 2011 REAL ESTATE LOS ANGELES BUSINESS JOURNAL 25 L.A. Home Prices and Sales Chill Out in January HOUSING: Average of $330,000 is lowest mark Market Highlights since last February. MOST EXPENSIVE HOMES 1/11 1/11 1/10 ZIP Home Median Median Los Angeles County housing prices declined Community Code Sales Price Price Change 4 percent in January, and they don’t look like Beverly Hills 90210 7 $2,180 $1,710 27% they are going to improve any time soon. Santa Monica 90402 5 1,902 2,118 -10% The median price of new and existing Pasadena 91105 4 1,473 814 81% homes fell to $330,000, the lowest it has Pacific Palisades 90272 9 1,439 1,500 -4% been since last February, before federal home San Marino 91108 6 1,422 1,420 0% L.A./Rancho Park 90064 11 1,349 822 64% tax credits temporarily goosed the market in Manhattan Beach 90266 17 1,345 1,154 17% the spring, according to HomeData of L.A./Westwood 90024 8 1,338 1,797 -26% Hicksville, N.Y. Playa del Rey 90293 4 1,300 N/A N/A It’s also the average price of summer 2009, Palos Verdes Est. 90274 16 1,272 1,968 -35% a few months into what then appeared be the start of a recovery, which later petered out. MOST EXPENSIVE CONDOS 1/11 1/11 1/10 Further evidence of a weak market: The num- ZIP Condo Median Median ber of homes sold fell to 3,344 units in Janu- Community Code Sales Price Price Change ary, 10 percent off a year earlier. Pacific Palisades 90272 3 $1,230 $690 78% Gary Painter, director of research at the Venice 90291 4 1,078 875 23% USC Lusk Center for Real Estate, said that Manhattan Beach 90266 8 850 975 -13% home sellers shouldn’t expect any good news Beverly Hills 90212 4 790 816 -3% Santa Monica 90403 15 675 849 -20% in the first quarter. L.A./Mid-Wilshire 90036 4 668 491 36% “I would expect to see declines in the next Arcadia 91006 6 650 589 10% three months,” said Painter, who believes a Pasadena 91105 5 615 305 102% growing number of foreclosed and short-sale L.A./Brentwood 90049 11 611 785 -22% houses will continue to depress the local market. Beverly Hills 90210 3 606 920 -34% Down: Home in Bel-Air, where the median price fell 67 percent last month. There is plenty of evidence to support the analysis. In December, new-housing starts HOME PRICE LOSSES nationwide fell to a 14-month low as dis- 1/11 1/11 1/10 ZIP Home Median Median L.A. COUNTY MEDIAN HOME PRICES counted existing homes continued to hit the Community Code Sales Price Price Change $500 market. L.A./Bel-Air 90077 7 $825 $2,500 -67% Lawrence Yun, chief economist at the Acton 93510 5 185 426 -57% 480 Westlake Village 91361 8 405 715 -43% National Association of Realtors, believes the 460 number of delinquent mortgage grew steadily Encino 91436 8 875 1,460 -40% in the second half of 2010. Whittier 90602 5 290 480 -40% 440 L.A./West Hllywd 90069 5 785 1,295 -39% “That trend will likely result in an increase 420 Palos Verdes Est. 90274 16 1,272 1,968 -35% in the prime foreclosure rate down the road,” L.A./Eagle Rock 90041 5 250 375 -33% 400 $345 he wrote in a recent report. Topanga 90290 3 500 730 -32% 380 $330 Locally, home prices were all over the L.A./Brooklyn Hghts 90033 8 175 240 -27% map. Median prices rose in wealthy neigh- 360 borhoods such as Beverly Hills’ famous CONDO PRICE LOSSES $320 340 90210 ZIP code and Pasadena’s 91105, but 1/11 1/11 1/10 ZIP Condo Median Median 320 were off in Santa Monica’s 90402 and in Community Code Sales Price Price Change Palos Verdes Estates. P.V. Estates 90275 5 $305 $600 -49% 300 Painter said he doesn’t believe the market Van Nuys 91411 3 155 300 -48% 280 will show any broad recovery for 12 to 18 Torrance 90502 9 175 330 -47% more months despite signs the economy is Belmont Shore 90803 6 249 468 -47% 260 Torrance 90503 7 340 579 -41% slowly healing. 240 “There’s a huge inventory of houses, and Torrance 90501 6 265 448 -41% Temple City 91780 4 312 506 -38% 220 (In thousands) it’s going to take time to work through this Newhall 91321 8 176 275 -36% backlog,” he said. “Certainly the increase in Beverly Hills 90210 3 606 920 -34% 200 JFMAMJJAS0NDJFMAMJ J A S ONJ D consumer spending is positive, but consumers Tarzana 91356 13 195 296 -34% are going to wait to get back into housing until 2009 2010 ’11 Source: HomeData Corp. they see a definite turnaround.” Sale price in thousands Source: HomeData, www.homedata.com – Joel Russell

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

Median Price Median Price Home Sales Percent (thousands) Percent Condo Sales Percent (thousands) Percent Community ZIP Code 2011 2010 Change 2011 2010 Change 2011 2010 Change 2011 2010 Change Los Angeles County 3,344 3,702 -10% $330 $342 -4% 1,300 1,408 -8% $293 $305 -4% Acton 93510 5 6 -17% 185 426 -57% 0 0 N/A N/A N/A N/A Agoura Hills 91301 12 14 -14% 572 562 2% 7 7 0% 264 312 -15% Alhambra 91801 7 6 17% 490 466 5% 8 14 -43% 356 368 -3% Alhambra 91803 5 13 -62% 410 440 -7% 1 5 -80% 750 368 104% Altadena 91001 19 24 -21% 530 482 10% 3 1 200% 343 435 -21% Arcadia 91006 9 9 0% 659 818 -19% 6 3 100% 650 589 10% Arcadia 91007 10 15 -33% 874 950 -8% 11 8 38% 570 548 4% Artesia 90701 8 5 60% 262 330 -21% 0 1 N/A N/A 275 N/A Azusa 91702 23 17 35% 285 250 14% 11 13 -15% 225 218 3% Baldwin Park 91706 23 26 -12% 250 283 -12% 6 9 -33% 262 196 34% Bell/Bell Gardens 90201 9 10 -10% 232 244 -5% 5 3 67% 350 298 17% Bellflower 90706 25 19 32% 325 335 -3% 7 6 17% 316 200 58% Beverly Hills 90210 7 9 -22% 2,180 1,710 27% 3 3 0% 606 920 -34% Beverly Hills 90211 1 3 -67% 3,005 1,200 150% 2 0 N/A 530 N/A N/A Beverly Hills 90212 2 1 100% 1,358 1,380 -2% 4 5 -20% 790 816 -3% Burbank 91501 5 4 25% 656 680 -4% 4 7 -43% 394 340 16% Burbank 91504 9 11 -18% 500 608 -18% 5 6 -17% 347 355 -2% Burbank 91505 15 16 -6% 431 519 -17% 3 3 0% 445 370 20% Burbank 91506 7 8 -13% 447 512 -13% 1 4 -75% 650 462 41% Thumbnails LABJ User Guide Front Page Table of Content

26 LOS ANGELES BUSINESS JOURNAL REAL ESTATE FEBRUARY 7, 2011

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

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

Calabasas 91302 15 14 7% $1,080 $1,007 7% 2 3 -33% $293 $845 -65% Canoga Park 91303 6 7 -14% 312 300 4% 3 7 -57% 280 215 30% Canoga Park 91304 16 21 -24% 451 420 7% 9 17 -47% 120 130 -8% Canyon Country 91351 12 12 0% 250 328 -24% 8 10 -20% 326 314 4% Canyon Country 91387 14 25 -44% 432 415 4% 13 20 -35% 195 224 -13% Carson 90745 23 17 35% 285 300 -5% 8 8 0% 234 231 1% Carson 90746 12 9 33% 322 315 2% 0 4 N/A N/A 272 N/A Castaic 91384 9 10 -10% 275 350 -21% 3 0 N/A 299 N/A N/A Cerritos 90703 13 24 -46% 542 545 -1% 6 3 100% 184 180 2% Chatsworth 91311 19 23 -17% 405 500 -19% 12 18 -33% 335 261 28% City of Commerce 90040 3 4 -25% 210 231 -9% 0 0 N/A N/A N/A N/A Claremont 91711 11 15 -27% 408 508 -20% 4 3 33% 360 418 -14% Compton 90220 24 24 0% 198 185 7% 10 1 900% 258 80 223% Compton 90221 16 28 -43% 200 175 14% 5 4 25% 200 215 -7% Compton 90222 9 16 -44% 197 182 8% 0 2 N/A N/A 150 N/A Covina 91722 20 13 54% 296 320 -8% 2 4 -50% 318 275 16% Covina 91723 4 6 -33% 378 316 20% 1 2 -50% 350 328 7% Covina 91724 14 7 100% 382 430 -11% 2 4 -50% 226 205 10% Culver City 90230 5 4 25% 580 482 20% 10 8 25% 280 344 -19% Culver City 90232 2 5 -60% 754 743 1% 0 2 N/A N/A 548 N/A Diamond Bar 91765 19 27 -30% 539 530 2% 15 18 -17% 226 282 -20% Downey 90240 15 18 -17% 380 448 -15% 4 3 33% 245 280 -13% Downey 90241 14 21 -33% 422 375 13% 1 6 -83% 287 190 51% Downey 90242 13 16 -19% 329 335 -2% 2 2 0% 268 325 -18% Duarte - Bradbury 91010 16 20 -20% 291 295 -1% 3 3 0% 212 228 -7% El Monte 91731 5 9 -44% 315 315 0% 3 1 200% 250 570 -56% El Monte 91732 12 19 -37% 334 315 6% 4 4 0% 336 187 80% El Monte/South El Monte 91733 12 8 50% 322 340 -5% 3 2 50% 299 310 -4% El Segundo 90245 3 3 0% 685 929 -26% 5 4 25% 420 499 -16% Encino 91316 6 15 -60% 445 500 -11% 15 14 7% 190 272 -30% Encino 91436 8 9 -11% 875 1,460 -40% 1 1 0% 410 1,438 -71% Gardena 90247 12 6 100% 292 358 -18% 7 6 17% 237 245 -3% Gardena 90249 7 13 -46% 372 385 -3% 3 4 -25% 280 332 -16% Glendale 91201 4 3 33% 482 632 -24% 1 3 -67% 599 330 82% Glendale 91202 7 5 40% 560 579 -3% 6 5 20% 306 330 -7% Glendale 91204 1 3 -67% 280 405 -31% 2 5 -60% 583 265 120% Glendale 91205 7 7 0% 383 465 -18% 3 2 50% 182 252 -28% Glendale 91206 15 9 67% 800 699 14% 6 6 0% 257 307 -16% Glendale 91207 3 8 -63% 850 674 26% 2 1 100% 302 215 40% Glendale 91208 6 5 20% 596 738 -19% 3 2 50% 282 228 24% Glendale/La Crescenta 91214 11 20 -45% 582 562 4% 4 2 100% 470 515 -9% Glendora 91740 3 6 -50% 405 350 16% 3 2 50% 276 299 -8% Glendora 91741 10 13 -23% 618 565 9% 1 5 -80% 455 380 20% Granada Hills 91344 29 29 0% 421 400 5% 6 8 -25% 372 240 55% Hacienda Heights 91745 26 24 8% 424 426 0% 7 4 75% 252 280 -10% Harbor City 90710 8 5 60% 402 425 -5% 10 7 43% 280 350 -20% Hawaiian Gardens 90716 3 8 -63% 220 208 6% 5 3 67% 193 160 21% Hawthorne 90250 21 16 31% 315 347 -9% 5 3 67% 260 305 -15% Hermosa Beach 90254 8 9 -11% 990 1,058 -6% 2 3 -33% 1,230 1,024 20% Huntington Park 90255 14 13 8% 260 257 1% 9 12 -25% 160 189 -15% Inglewood 90301 7 9 -22% 225 225 0% 2 5 -60% 124 178 -30% Inglewood 90302 4 8 -50% 230 202 14% 5 7 -29% 145 130 12% Inglewood 90303 6 9 -33% 257 285 -10% 1 1 0% 262 255 3% Inglewood 90305 6 4 50% 312 274 14% 0 3 N/A N/A 275 N/A L.A. 90011 21 21 0% 229 185 24% 6 5 20% 264 158 67% L.A. 90062 13 19 -32% 238 227 5% 2 2 0% 382 300 27% L.A./Baldwin Hills 90008 5 7 -29% 460 379 21% 1 2 -50% 195 305 -36% L.A./Baldwin Hills 90056 3 4 -25% 533 685 -22% 1 2 -50% 740 510 45% L.A./Bel-Air 90077 7 4 75% 825 2,500 -67% 0 2 N/A N/A 1,175 N/A L.A./Brentwood 90049 8 9 -11% 1,150 1,282 -10% 11 13 -15% 611 785 -22% L.A./Brooklyn Heights 90033 8 6 33% 175 240 -27% 0 0 N/A N/A N/A N/A L.A./Chesterfield Square 90047 37 34 9% 250 236 6% 0 2 N/A N/A 240 N/A L.A./City College 90029 5 4 25% 454 416 9% 0 3 N/A N/A 460 N/A L.A./City Terrace 90063 10 15 -33% 175 213 -18% 1 2 -50% 195 298 -35% L.A./Crenshaw District 90016 13 11 18% 335 275 22% 9 6 50% 255 218 17% L.A./Eagle Rock 90041 5 7 -29% 250 375 -33% 1 1 0% 376 513 -27% L.A./East L.A. 90022 9 12 -25% 230 232 -1% 2 2 0% 287 307 -7% L.A./East L.A. 90023 7 2 250% 250 195 28% 0 3 N/A N/A 250 N/A L.A./Echo Park 90026 7 13 -46% 340 335 1% 1 5 -80% 525 399 32% L.A./El Sereno 90032 20 9 122% 260 180 44% 4 1 300% 368 185 99% L.A./Exposition Park 90037 15 15 0% 225 170 32% 2 3 -33% 245 280 -13% L.A./Hancock Park 90004 9 13 -31% 765 754 1% 4 7 -43% 362 363 0% L.A./Highland Park 90042 24 25 -4% 398 295 35% 12 10 20% 303 362 -16% L.A./Hollywood 90028 1 2 -50% 455 452 1% 4 2 100% 748 485 54% L.A./Hollywood Hills 90068 16 6 167% 948 860 10% 2 3 -33% 712 370 92% L.A./Koreatown 90005 1 4 -75% 2,300 865 166% 8 4 100% 282 326 -13% L.A./Koreatown 90006 3 1 200% 360 270 33% 9 5 80% 285 285 0% L.A./Lincoln Heights 90031 10 6 67% 292 190 54% 6 0 N/A 243 N/A N/A L.A./Los Feliz 90027 12 8 50% 820 838 -2% 3 1 200% 323 325 -1% L.A./Mar Vista 90066 10 15 -33% 575 727 -21% 7 4 75% 350 425 -18% Thumbnails LABJ User Guide Front Page Table of Content

FEBRUARY 7, 2011 REAL ESTATE LOS ANGELES BUSINESS JOURNAL 27

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

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

L.A./Mid-City 90019 12 17 -29% $608 $465 31% 11 2 450% $435 $365 19% L.A./Mid-Wilshire 90036 2 4 -50% 1,038 808 28% 4 6 -33% 668 491 36% L.A./Mt. Washington 90065 26 21 24% 454 380 19% 1 4 -75% 293 285 3% L.A./Palms 90034 9 9 0% 645 550 17% 4 8 -50% 481 308 56% L.A./Rancho Park 90064 11 9 22% 1,349 822 64% 5 4 25% 505 454 11% L.A./Silver Lake 90039 11 11 0% 675 570 18% 2 2 0% 460 403 14% L.A./South Figueroa 90007 3 2 50% 403 498 -19% 2 2 0% 428 196 118% L.A./South L.A. 90001 19 13 46% 189 185 2% 4 2 100% 192 240 -20% L.A./South L.A. 90003 24 22 9% 231 170 36% 5 2 150% 215 235 -9% L.A./South L.A. 90044 31 31 0% 200 220 -9% 5 7 -29% 230 190 21% L.A./South L.A. 90061 9 7 29% 218 215 1% 1 2 -50% 205 215 -5% L.A./South L.A. 90248 1 4 -75% 520 405 28% 0 0 N/A N/A N/A N/A L.A./South Robertson 90035 5 7 -29% 750 875 -14% 8 5 60% 480 725 -34% L.A./Watts 90002 18 30 -40% 152 138 10% 4 2 100% 160 154 4% L.A./West Adams 90018 13 15 -13% 257 250 3% 5 3 67% 290 308 -6% L.A./West Hollywood 90038 2 2 0% 488 462 6% 1 2 -50% 430 441 -2% L.A./West Hollywood 90046 15 7 114% 770 860 -10% 13 7 86% 425 400 6% L.A./West Hollywood 90048 5 7 -29% 1,109 926 20% 2 3 -33% 580 330 76% L.A./West Hollywood 90069 5 9 -44% 785 1,295 -39% 17 13 31% 400 440 -9% L.A./West L.A. 90025 2 5 -60% 770 860 -10% 12 10 20% 530 625 -15% L.A./Westchester 90045 13 17 -24% 572 725 -21% 3 1 200% 320 370 -14% L.A./Westwood 90024 8 2 300% 1,338 1,797 -26% 12 14 -14% 485 592 -18% L.A./Willowbrook 90059 23 24 -4% 150 140 7% 3 0 N/A 230 N/A N/A L.A./Windsor Hills 90043 30 21 43% 310 264 17% 2 0 N/A 130 N/A N/A L.A./Windsor Square 90020 1 1 0% 2,850 800 256% 12 6 100% 238 284 -16% La Canada Flintridge 91011 18 11 64% 904 816 11% 0 0 N/A N/A N/A N/A La Habra 90631 26 29 -10% 325 330 -2% 13 12 8% 270 167 62% La Mirada 90638 25 25 0% 395 385 3% 3 2 50% 357 310 15% La Puente 91744 32 33 -3% 259 260 0% 6 2 200% 260 188 38% La Puente 91746 6 9 -33% 290 303 -4% 2 4 -50% 338 152 122% La Verne 91750 12 15 -20% 520 458 14% 2 2 0% 358 126 184% Lake Hughes 93532 2 1 100% 120 260 -54% 1 0 N/A 103 N/A N/A Lakewood 90712 19 18 6% 350 378 -7% 0 0 N/A N/A N/A N/A Lakewood 90713 16 18 -11% 393 420 -6% 0 2 N/A N/A 398 N/A Lakewood 90715 13 9 44% 336 375 -10% 1 3 -67% 203 185 10% Lancaster 93534 30 41 -27% 104 95 9% 9 10 -10% 85 84 1% Lancaster 93535 63 81 -22% 117 109 7% 10 14 -29% 122 108 13% Lancaster 93536 77 68 13% 194 207 -6% 4 8 -50% 130 195 -33% Lawndale 90260 8 6 33% 270 320 -16% 3 4 -25% 360 274 31% Lennox 90304 6 3 100% 298 265 12% 1 1 0% 325 310 5% Littlerock 93543 13 17 -24% 118 115 3% 2 3 -33% 104 100 4% Llano 93544 2 1 100% 128 79 62% 0 0 N/A N/A N/A N/A Lomita 90717 6 2 200% 454 422 8% 0 2 N/A N/A 338 N/A Long Beach 90802 5 2 150% 295 371 -20% 27 27 0% 243 208 17% Long Beach 90804 9 5 80% 360 375 -4% 6 6 0% 132 111 19% Long Beach 90805 29 44 -34% 240 272 -12% 7 6 17% 276 244 13% Long Beach 90806 19 10 90% 305 382 -20% 2 1 100% 300 235 28% Long Beach 90807 13 10 30% 420 522 -20% 5 4 25% 159 194 -18% Long Beach 90808 25 19 32% 430 480 -10% 2 3 -33% 415 470 -12% Long Beach 90810 8 14 -43% 214 233 -8% 2 3 -33% 114 225 -49% Long Beach 90813 10 9 11% 248 285 -13% 5 5 0% 300 135 122% Long Beach 90814 1 4 -75% 573 596 -4% 3 3 0% 262 322 -19% Long Beach 90815 7 11 -36% 490 450 9% 1 2 -50% 193 250 -23% Long Beach/Belmont Shore 90803 6 6 0% 452 587 -23% 6 14 -57% 249 468 -47% Lynwood 90262 25 18 39% 225 240 -6% 1 2 -50% 245 244 0% Malibu 90265 2 5 -60% 1,382 952 45% 4 2 100% 462 947 -51% Manhattan Beach 90266 17 18 -6% 1,345 1,154 17% 8 5 60% 850 975 -13% Marina del Rey 90292 2 1 100% 1,002 1,845 -46% 17 9 89% 590 593 -1% Maywood 90270 5 6 -17% 215 212 1% 1 0 N/A 250 N/A N/A Mission Hills 91345 4 12 -67% 303 285 6% 1 2 -50% 220 220 0% Monrovia 91016 13 20 -35% 420 500 -16% 6 8 -25% 330 380 -13% Montebello 90640 14 12 17% 372 368 1% 7 7 0% 292 178 64% Monterey Park 91754 11 6 83% 410 506 -19% 4 6 -33% 397 374 6% Monterey Park 91755 3 9 -67% 399 425 -6% 5 2 150% 385 382 1% Montrose 91020 3 3 0% 560 520 8% 3 4 -25% 302 372 -19% Newhall 91321 8 13 -38% 302 392 -23% 8 14 -43% 176 275 -36% North Hills 91343 17 18 -6% 338 386 -12% 13 14 -7% 148 175 -15% North Hollywood 91601 10 7 43% 378 335 13% 6 2 200% 348 260 34% North Hollywood 91602 2 4 -50% 560 600 -7% 4 8 -50% 399 345 16% North Hollywood 91605 20 22 -9% 315 316 0% 2 3 -33% 170 232 -27% North Hollywood 91606 13 13 0% 325 275 18% 4 4 0% 262 244 7% Northridge 91324 8 12 -33% 392 465 -16% 4 1 300% 288 280 3% Northridge 91325 14 7 100% 472 380 24% 6 4 50% 265 355 -25% Northridge 91326 22 22 0% 605 585 3% 7 5 40% 399 400 0% Norwalk 90650 45 55 -18% 285 290 -2% 9 6 50% 220 240 -8% Pacific Palisades 90272 9 15 -40% 1,439 1,500 -4% 3 5 -40% 1,230 690 78% Pacoima 91331 30 39 -23% 258 260 -1% 4 13 -69% 180 140 29% Palmdale 93550 57 71 -20% 120 118 2% 17 15 13% 105 97 8% Palmdale 93551 56 67 -16% 210 225 -7% 5 2 150% 144 260 -45% Palmdale 93552 41 60 -32% 150 156 -4% 2 2 0% 146 128 14% Thumbnails LABJ User Guide Front Page Table of Content

28 LOS ANGELES BUSINESS JOURNAL REAL ESTATE FEBRUARY 7, 2011

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

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

Palmdale 93591 8 10 -20% $54 $64 -16% 0 1 N/A N/A $65 N/A Palos Verdes Estates 90274 16 10 60% 1,272 1,968 -35% 0 1 N/A N/A 895 N/A Panorama City 91402 11 26 -58% 295 280 5% 19 17 12% $150 160 -6% Paramount 90723 6 11 -45% 238 255 -7% 7 12 -42% 200 128 56% Pasadena 91101 2 0 N/A 558 N/A N/A 5 0 N/A 395 N/A N/A Pasadena 91103 6 11 -45% 392 310 26% 1 2 -50% 229 490 -53% Pasadena 91104 22 16 38% 557 507 10% 2 3 -33% 300 339 -12% Pasadena 91105 4 7 -43% 1,473 814 81% 5 5 0% 615 305 102% Pasadena 91106 3 7 -57% 745 504 48% 10 14 -29% 426 392 9% Pasadena 91107 19 11 73% 615 610 1% 5 4 25% 385 506 -24% Phillips Ranch 91766 24 35 -31% 206 210 -2% 10 9 11% 205 188 9% Pico Rivera 90660 29 25 16% 278 300 -7% 1 1 0% 280 139 101% Playa del Rey 90293 4 0 N/A 1,300 N/A N/A 6 0 N/A 406 N/A N/A Pomona 91767 22 30 -27% 214 210 2% 2 7 -71% 199 190 5% Pomona 91768 21 23 -9% 200 195 3% 0 1 N/A N/A 127 N/A Rancho Palos Verdes 90275 18 20 -10% 990 872 14% 5 5 0% 305 600 -49% Redondo Beach 90277 7 9 -22% 1,150 845 36% 11 13 -15% 595 690 -14% Redondo Beach 90278 10 17 -41% 658 667 -1% 12 18 -33% 596 579 3% Reseda 91335 34 36 -6% 310 336 -8% 11 8 38% 240 208 15% Rosemead 91770 16 15 7% 362 391 -7% 2 5 -60% 440 360 22% Rowland Heights 91748 15 19 -21% 390 388 1% 0 5 N/A N/A 390 N/A San Dimas 91773 14 19 -26% 430 410 5% 1 1 0% 339 225 51% San Fernando 91340 14 11 27% 222 260 -15% 3 2 50% 190 128 48% San Gabriel 91775 7 9 -22% 607 450 35% 3 0 N/A 523 N/A N/A San Gabriel 91776 7 17 -59% 578 462 25% 1 1 0% 310 395 -22% San Marino 91108 6 5 20% 1,422 1,420 0% 0 0 N/A N/A N/A N/A San Pedro 90731 9 12 -25% 470 412 14% 1 1 0% 337 320 5% San Pedro 90732 1 6 -83% 390 502 -22% 5 14 -64% 285 358 -20% Santa Clarita 91350 14 20 -30% 445 348 28% 7 6 17% 231 248 -7% Santa Clarita 91390 8 16 -50% 453 408 11% 3 2 50% 300 285 5% Santa Fe Springs 90670 9 3 200% 330 337 -2% 5 2 150% 340 290 17% Santa Monica 90402 5 4 25% 1,902 2,118 -10% 1 2 -50% 1,675 1,042 61% Santa Monica 90403 1 3 -67% 824 1,185 -30% 15 9 67% 675 849 -20% Santa Monica 90405 6 6 0% 810 1,062 -24% 11 5 120% 505 401 26% Sherman Oaks 91403 11 5 120% 874 704 24% 7 4 75% 322 410 -21% Sherman Oaks 91423 19 11 73% 776 875 -11% 7 2 250% 380 427 -11% Sierra Madre 91024 3 4 -25% 625 784 -20% 1 1 0% 614 424 45% Signal Hill 90755 2 2 0% 555 548 1% 4 2 100% 276 188 47% South Gate 90280 35 29 21% 255 243 5% 2 4 -50% 253 258 -2% South Pasadena 91030 11 10 10% 667 852 -22% 3 3 0% 588 510 15% Stevenson Ranch 91381 10 20 -50% 653 557 17% 5 9 -44% 285 305 -7% Studio City 91604 21 23 -9% 799 900 -11% 7 12 -42% 498 482 3% Sun Valley 91352 20 19 5% 303 285 6% 2 1 100% 220 215 2% Sunland 91040 14 19 -26% 338 335 1% 2 2 0% 241 240 0% Sylmar 91342 42 48 -13% 316 304 4% 17 20 -15% 178 200 -11% Tarzana 91356 13 22 -41% 740 885 -16% 13 14 -7% 195 296 -34% Temple City 91780 9 18 -50% 580 568 2% 4 6 -33% 312 506 -38% Topanga 90290 3 5 -40% 500 730 -32% 0 1 N/A N/A 360 N/A Torrance 90501 13 9 44% 475 354 34% 6 6 0% 265 448 -41% Torrance 90502 5 7 -29% 348 315 10% 9 9 0% 175 330 -47% Torrance 90503 12 10 20% 562 585 -4% 7 4 75% 340 579 -41% Torrance 90504 8 7 14% 488 450 8% 3 0 N/A 380 N/A N/A Torrance 90505 16 19 -16% 666 690 -3% 5 3 67% 405 337 20% Tujunga 91042 13 20 -35% 320 332 -4% 6 2 200% 258 272 -5% Valencia 91354 19 16 19% 400 455 -12% 9 7 29% 325 350 -7% Valencia 91355 17 16 6% 415 441 -6% 5 12 -58% 418 230 82% Valley Village 91607 8 15 -47% 547 548 0% 8 10 -20% 395 327 21% Van Nuys 91401 15 9 67% 487 630 -23% 5 8 -38% 325 322 1% Van Nuys 91405 14 13 8% 355 320 11% 7 14 -50% 120 168 -29% Van Nuys 91406 15 20 -25% 330 332 -1% 5 9 -44% 265 200 33% Van Nuys 91411 10 9 11% 405 376 8% 3 3 0% 155 300 -48% Venice 90291 7 10 -30% 870 788 10% 4 3 33% 1,078 875 23% Walnut 91789 25 29 -14% 700 575 22% 1 2 -50% 168 331 -49% West Covina 91790 15 21 -29% 340 350 -3% 1 2 -50% 215 278 -23% West Covina 91791 13 16 -19% 365 408 -11% 0 6 N/A N/A 236 N/A West Covina 91792 10 10 0% 320 345 -7% 3 4 -25% 178 250 -29% West Hills 91307 17 22 -23% 425 494 -14% 3 2 50% 420 240 75% Westlake Village 91361 8 17 -53% 405 715 -43% 4 7 -43% 280 379 -26% Westlake Village 91362 8 11 -27% 544 552 -1% 7 18 -61% 325 367 -11% Whittier 90601 10 11 -9% 315 370 -15% 3 3 0% 193 180 7% Whittier 90602 5 6 -17% 290 480 -40% 1 4 -75% 219 298 -27% Whittier 90603 10 12 -17% 388 405 -4% 0 2 N/A N/A 264 N/A Whittier 90604 17 16 6% 309 394 -22% 2 0 N/A 132 N/A N/A Whittier 90605 14 22 -36% 294 300 -2% 2 0 N/A 274 N/A N/A Whittier 90606 14 9 56% 289 310 -7% 3 2 50% 280 284 -1% Wilmington 90744 16 19 -16% 254 265 -4% 4 2 100% 240 148 62% Winnetka 91306 15 21 -29% 325 360 -10% 5 11 -55% 250 177 41% Woodland Hills 91364 22 28 -21% 508 585 -13% 3 0 N/A 340 N/A N/A Woodland Hills 91367 19 19 0% 540 583 -7% 17 16 6% 270 280 -4% Thumbnails LABJ User Guide Front Page Table of Content

FEBRUARY 7, 2011 REAL ESTATE LOS ANGELES BUSINESS JOURNAL 29

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Call toll-free Santa Monica Deal: Pierpoint Pacific office building at 1540 Second Street. 1.800.404.5225 Realty Firm Looks to Raise Its Profile on the Westside EXPANSION: announced last week that it signed British film Rodeo opens production company GK Films to a 10-year, Sunset Strip office, relocates $16 million deal for 28,350 square feet of space on the second floor of the three-story building, Beverly Hills headquarters. which features private balconies with ocean views and is directly across Second Street from By HOWARD FINE Staff Reporter the recently renovated Santa Monica Place. With the exception of 3,500 square feet of IGH-END residential real estate broker- restaurant space on the ground floor, the Class age Rodeo Realty Inc. is on a bold, A office building is completely leased. What’s H countercyclical expansion drive in western Los Angeles, adding scores of agents, opening offices and moving its flagship Bever- REAL ESTATE ly Hills office to larger digs. Last month, Rodeo Realty opened its first office on the Sunset Strip, in the 9200 Sunset more, GK Films, which is set to move in this Blvd. offices formerly occupied by rival spring, beat out two other prospective tenants. Sotheby’s International Realty Affiliates “This is a significant milestone and signifies LLC, which moved to a nearby building. that the downtown Santa Monica office market Rodeo Realty hopes to have 100 agents there is really recovering well,” said Chris Houge, a by midyear. principal with L.A. Realty Partners, which In March, Rodeo Realty is set to move out represented Realty Bancorp. of its headquarters at 266 N. Beverly Drive Woodland Hills developer Norman Kravetz, and head one block east to the 202 N. Canon who founded Realty Bancorp, constructed the Drive building that was once home to the building in 2008 for $28 million. William Morris GK Films was launched in 2007 by Graham Agency. The new King, who produced or co-produced “Gangs of space is 13,000 square New York,” “The Aviator,” “Ali,” “The feet, more than double Departed” and “Traffic.” The company’s cur- the space of the cur- rent offices are on Fifth Street in Santa Monica. rent headquarters, GK Films was represented by Jeff Cowan which will allow the and Jessica Foldes, both in the West L.A. office company to add of Studley. roughly 80 agents to Adams & Brooks, Inc. the 130 already there. Yahoo Center Lease Syd Leibovitch, In another Santa Monica office deal, online Since 1932, Adams & Brooks has produced deliciously distinctive Leibovitch Rodeo Realty founder game developer Riot Games has signed a five- and president, said he year lease for 47,000 square feet of space in the candy products. They are committed to creating differentiated also plans to open another branch in Brentwood Yahoo Center, a six-building complex owned products through proprietary manufacturing processes and quality later this year. It’s all part of a drive to turn the by Equity Office Properties that’s across from firm into the top luxury home broker on L.A.’s the Water Garden. packaging. The company sells to every class of trade in the Westside. Culver City-based Riot, which plans to confectionery industry, including wholesalers, distributors, mass Leibovitch said that rising sales volume of add 100 employees this year after the suc- merchandisers, jobbers, vendors, and retailers. Westside luxury homes is one reason for the cessful debut of its first online game, “League expansion. Many wealthy homeowners, stung of Legends,” was looking for larger space in Kevin Hoban Tempe Brooks Cindy Brooks John Brooks by years of recession, were finally forced to the west L.A. County technology corridor sell, while foreign investment has increasingly that stretches from Santa Monica to Venice Planning Director Secretary-Treasurer Vice President President poured into the area. and Playa Vista. “We had our best year ever last year, both in “The Yahoo Center appealed to my client the number of transactions and total sales vol- because of its campuslike layout and amenities ume,” Leibovitch said. for technology companies,” said Bruce Hoffman, But the main reason, he said, is an abun- senior vice president with UGL Services, which dant supply of agents, either cut by competi- represented Riot. “This is really emerging as tors or eager to work for a smaller indepen- ground zero for the Westside technology center.” dent brokerage. Yahoo Center was built in two phases: three “My company’s expansion is the result of buildings in the early 1980s and three in the other companies imploding,” he said. early 1990s. Yahoo Inc. moved in during Leibovitch’s goal is to make Rodeo Realty the 2005, becoming the largest tenant and thereby next John Douglas or Fred Sands, two local resi- lending its name to the complex. dential real estate brokerages that dominated the The transaction value of the lease was not Westside and parts of the San Fernando Valley disclosed. until they were bought out more than a decade ago. Equity Office was represented by Houge of L.A. Realty, who also brokered the GK Films deal Santa Monica Deal on behalf of landlord Realty Bancorp. Houge said Pierpoint Pacific, the only office building Equity Office would not comment on the deal. constructed in Santa Monica in the last 10 | | | www.cbbank.com years, is finally about to be filled. Howard Fine can be reached at hfine@labusi- Member FDIC 1110 1-877-4-CBBANK Owner Realty Bancorp Equities nessjournal.com or at (323) 549-5225, ext. 227. Thumbnails LABJ User Guide Front Page Table of Content

30 LOS ANGELES BUSINESS JOURNAL FEBRUARY 7, 2011 Investment Properties For Sale COMMERCIAL INDUSTRIAL

2 101 W. 3rd FOR SALE Dodger 5 FOR SALE WILSHIRE Stadium • Owner/User/Inv BLVD. • Light Industrial • Approx. 16,350 SF retail 10 • Formerly West Coast Choppers • $1,595,000 • Located Just East Of 710 Fwy LOS ANGELES COUNTY Near The Port Of Long Beach VENTURA COUNTY FIGUEROA ◆ TC Macker / 10 FLOWER • 2 Story with Offi ces, Show Santa Room & Large Work Area C. Newlands Clarita ALAMEDA 60 (310) 478-7700 110 Steve Warshauer ◆ 888-895-7535 ext 225 1 118 Simi 2 FOR SALE Valley Northridge 4 Burbank • Lender Foreclosure 170 Need more Agoura 5 • Old Town La Quinta Hills 101 Pasadena 210 • 2 Story Offi ce/Retail Calabasas Glendale Hollywood information on 405 • $3,695,000 (7.5% cap) Alhambra 10 West Covina ◆ C. Holland / J. Bertram Santa LOS ANGELES Pomona 1 advertising your (310) 478-7700 Monica Montebello Malibu Whittier Venice Culver City LOS ANGELES COUNTY Investment Marina Del Rey Lynwood ORANGE COUNTY FOR SALE Hawthorne El Segundo 5 Property? • Assume $2,300,000 Loan Manhattan Beach • 5 Unit Strip Center Built 5 miles Hermosa Beach 3 2 ’06. High Visibility, High Redondo Beach Torrance Anaheim Traffi c Corner Carson Long • Buy With Less Than 5 10% Down Beach Rancho Palos Huntington Santa Ana Call Verdes LONG Beach George Bustamante ◆ 888-895-7535 ext 204 BEACH San Clemente Irvine LEGEND LOS ANGELES HARBOR HARBOR Rosz Murray Office Costa Mesa

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32 LOS ANGELES BUSINESS JOURNAL FEBRUARY 7, 2011 BUSINESS MARKETPLACE CORPORATE TRANSPORTATION FINANCIAL SERVICES

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34 LOS ANGELES BUSINESS JOURNAL FEBRUARY 7, 2011 Legal: Son Won’t Sit and Wait for Herbalife Fortune

ground static,” he said. “They have no basis in Continued from page 1 fact and they have no basis in law.”

Mark. “I had the hope that when (Alex) became Acting on his own? an adult and went away to college, that it would Klein claims the trust had paid the mother resolve itself, that he would have the opportuni- and son more than $200,000 a year, although he ty to see the world through his own eyes.” acknowledged that most of that is required Alex’s attorney, Eric Rowen of Greenberg under Suzan’s divorce agreement. The settle- Traurig LLP, disputes the idea that his client ment requires that she be paid $10,000 a month is prolonging the case. He said Alex would not in child support and about $80,000 a year for comment. taxes and insurance on her home, in addition to “I don’t believe (Alex) views himself in money for Alex’s medical bills and tuition. any respect as perpetuating disputes that The trust also has paid for the rental of a existed between the trustees and his mother,” summer home in Malibu, winter vacation and Rowen said. “He has reached the age of travel expenses to visit colleges. Currently, there maturity and he is taking a fresh look at are no requests for tuition and other payments, everything.” and the child support payments stopped when In any event, the long-running case is a Alex turned 18, so she’s getting relatively little. morass. There are more than one dozen out- Despite the lack of communication, Woods, standing legal issues, including two pending the trustees’ attorney, said he was hoping Alex petitions for removal of the trustees. Most of would be more open to a settlement than his them stem from Suzan’s, and now Alex’s, mother, although he hasn’t “seen anything to belief that the trustees have not more generous- L.A. Gala: Suzan Hughes, second from right, with son Alex, center, at 2006 event. indicate he would be more willing.” ly distributed money on a discretionary basis. Woods also said it was possible that when In response, the trustees say they are prevented Hughes Enterprises, a company run by her, between $40 million and $70 million, to be the $40 million-plus custodianship is handed from communicating with Alex to make sure was not returned. handed over to Alex when he turns 25. At that over to Alex at 25, he may drop the fight. what the payments are for. Edward Woods, an attorney at Century age, Alex also will begin receiving annual pay- But the trustees wonder if Alex is acting on But there are other disputes as well. She City-based Browne Woods George LLP who ments topping $1 million a year, one-third of his own. claims the trustees are not good stewards; they represents the trustees, called it one of the most the $400 million trust’s annual income. “I don’t know whether he’s doing it or his agreed to pay a lender $12 million to settle a unpleasant battles he’s handled. Two years after Mark’s death, Herbalife mother is pulling puppet strings,” Klein said. “I separate legal matter, which she believes was “I know of very little litigation that isn’t was sold after an unsuccessful attempt by recognize statements by Alex in documents that too much. She claims the three trustees have a nasty to begin with,” he said. “But this is litiga- Suzan and other investors to buy the company. were statements made in the past by Suzan.” financial stake of their own. They currently are tion that has been filled with wild and unsup- Now, none of the parties of the legal dispute Woods also expressed doubts. splitting between $700,000 and $1 million a ported charges.” has a stake in the company. But the trustees “I think it’s reasonable to conclude based year in fees from managing the estate. claim the failed deal is what spurred her to upon what he’s done since he turned 18 that So far, the trustees have managed to hold Rags to riches begin her legal actions. That year, Suzan filed he’s still pretty much following the lead of on to their positions, despite the sometimes The fortune at issue was amassed by a man the first of many petitions to remove the other people, as opposed to acting truly inde- nasty fight, though one resigned under pressure armed with only a ninth grade education. Mark trustees. The underlying theme of the petitions pendently,” he said. in 2006 as the custodian of a separate $40 mil- founded Herbalife in Los Angeles in 1980, has been that the trustees take a hostile position Rowen, Alex’s lawyer, shot down any lion account for Alex. Suzan had alleged he selling weight loss products out of the trunk of toward any requests for money. notions that his client isn’t his own man. made an improper investment. his car. By the time of his death, sales had She has alleged further improper behavior. “That’s been their mantra,” he said of the Among the other ugly charges: Suzan tried reached nearly $1 billion a year. Although she lost her sexual harassment law- trustees. “We don’t take marching orders from to remove trustee and former Herbalife Chief He married Suzan, his third wife, in 1987. suit against Pair, she succeeded in removing Suzan. Alex is a grown young man now who is Executive Christopher Pair by claiming that he The two divorced in 1998. At the time of his Reynolds from the custodianship for an looking at analyzing things from his own perspec- sexually propositioned her, but she ultimately death, the two shared custody of Alex. After- allegedly inappropriate investment. In 2006, tive and in order to protect his own interests.” lost that case in California Supreme Court last ward, Alex spent all of his time with his moth- Reynolds resigned as custodian after a prelimi- He also was more optimistic that the legal year. Also last year, during a hearing regarding er in her Beverly Hills home. nary ruling by a judge suspending him for issues would not linger for years. He noted attorneys’ fees, she testified that she believed Upon Mark’s death, his wealth was trans- investing that money into an investment part- that a new judge, Mitchell Beckloff, took Klein to be complicit in her ex-husband’s ferred into a trust overseen by Klein; Pair; and nership controlled by the trust. He remains a over the case in Los Angeles Superior Court death, which has been ruled by authorities to Jack Reynolds, who was Mark’s father (Mark trustee of the big trust. last year and has made it clear he wants to be the result of an accidental overdose of alco- took his mother’s surname). The trust is to be Despite some legal setbacks, Klein, the hurry things along. hol and antidepressants. turned over to Alex when he turns 35. other trustee, dismisses Suzan’s charges as “I do think it’ll be resolved,” Rowen said. Repeated attempts to reach Suzan for com- Mark also put Reynolds in charge of a sep- unsubstantiated. “We have a new judge and Alex is a new play- ment were unsuccessful. A call to Suzan arate custodianship, now estimated to be worth “I treat these actions to remove us as back- er in this circle.” Lending: Credit Unions Eye Commercial Real Estate ing in widespread borrower defaults. To officers of Lockheed, though, the timing bership, we wanted to also offer commercial Continued from page 1 Recently, there have been signs of a pos- feels right. real estate products,” said Oliver Kim, vice sible rebound, including stabilizing office The Burbank credit union has not offered president of commercial real estate and loan and a continued perception of risk, the return of vacancy rates in Los Angeles. But there are commercial real estate loans since 2006, around services for the credit union. During the down- the county’s two biggest credit unions to the major concerns about the impending maturi- the time the overheated market reached its peak. turn, “we’ve mainly been concentrating on marketplace will likely encourage its competi- ties of a high volume of loans originated dur- In the subsequent crash, Lockheed, like consumer products – basically mortgage, Visa tors to do the same. ing the boom. many lenders, sustained losses on loans made cards and auto loans.” “As we’re seeing this stability set in now in Bert Ely, a bank analyst in Alexandria, Va., to commercial real estate borrowers. The The institution will offer both standard 2011, credit unions are feeling more comfort- noted that many banks have yet to return to institution, which has $2.9 billion in assets, commercial real estate loans and loans able branching out or expanding the lines of commercial real estate, which should give has foreclosed on five commercial properties backed by the U.S. Small Business Adminis- business that are available to them,” said credit unions pause. over the past two years. It had $40 million set tration, which can be used for commercial Daniel Penrod, an analyst for the California “It actually gets kind of scary if the credit aside at the end of last quarter to cover all property purchases. Credit Union League, an industry trade group. unions jump in where the banks fear to go,” loan losses. Kim said Lockheed is taking precautions, While credit unions have not historically he said. Many credit unions that offered commer- though. For instance, the institution will only been major players in commercial real estate cial real estate loans stopped during the reces- make commercial real estate loans up to $2 financing, a number of larger institutions have Back in the game sion, either to tend to losses in their portfolio million, down significantly from the prereces- offered loans of as much as a few million dol- It’s unclear how many of the county’s or because a decline in overall lending meant sion boom times when the loans sometimes lars to acquire office buildings, retail stores, roughly 170 credit unions offer commercial their assets were shrinking, which pushed them topped $10 million. What’s more, it will no apartment buildings and other large projects – real estate loans, but only a dozen or so have up against a regulatory cap on commercial longer offer loans outside Southern California, though they tend to stay away from complex sufficient size to do so in any real volume. lending. According to federal guidelines, credit as it had years ago. or unusual properties. John Bretthauer, senior vice president of unions’ commercial loans cannot exceed 12.25 “This time around we’re doing it only in However, some analysts are concerned that commercial lending for California Credit percent of total assets. our backyard (and) we’re going to be at a credit unions, despite a conservative reputa- Union in Glendale, said the number of active Kinecta, which has $3.5 billion in assets, much slower pace than before,” he said. “With tion, may be taking on more risk than is pru- lenders is much smaller than it was prior to the cited the cap as a major factor why it stopped any product you offer, you have to have proper dent by venturing into a commercial property recession. His institution stopped making com- commercial real estate lending. But with the underwriting guidelines.” market that they believe remains unsettled. mercial real estate loans in 2009 and has no economy seemingly on an upswing, Lockheed Kinecta, too, tightened its underwriting The market is still suffering from a combina- plans to resume. officers said creditworthy borrowers are when it resumed commercial real estate lend- tion of high unemployment, falling property “Most of the credit union industry is shrink- becoming more abundant. values and tightened lending standards, result- ing their assets,” Bretthauer said. “In order to give a full breadth to our mem- Please see LOANS page 35 Thumbnails LABJ User Guide Front Page Table of Content

FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL 35 Government: Tax Credits in Endangered Zones?

Continued from page 1 to resort to cost-cutting to deal with the higher tax bill. Enterprise zones were designed to improve economically struggling areas by giving com- panies that locate there tax credits of up to $37,000 per worker hired. The companies also would get tax credits for purchasing equipment as part of an expansion. But in recent years, as the recession took a bite out of companies’ incomes and lowered their tax bills, many of those tax credits have been piling up. That’s because unused tax credits can be banked and used to offset future state tax bills. Many companies were looking forward to using them when the economy recovered and their business improved. Under Brown’s plan, those banked credits would be erased. “We’ve got 1,100 client companies in Cali- fornia enterprise zones and just about every one of them has credits that haven’t yet been used,” said Rob Babek, partner in charge of the Century City office of Marcum LLP, a New York-based accounting firm. “If these credits are taken away, it could force them to put on hold hiring plans, hire outside the state or even to go into cost-cutting mode.”

Enterprise Zones At a Glance RINGO H.W. CHIU/LABJ Zoned Out?: A worker at Huntingon Park’s Crown Poly, a maker of plastic grocery bags.  Enterprise zones were created to stimulate business investment and job creation in eco- Ohio, Texas and North Carolina. give local governments more autonomy to raise program to prevent abuse and free up a little nomically distressed areas with defined borders.  “If these tax credits are removed, it creates money for enterprise zones or other economic more money for state coffers. There are 42 enterprise zones in Califor- a stumbling block to our continued growth development programs, thereby giving cities and In the meantime, companies in enterprise nia. Los Angeles County has eight (Antelope here in California,” said Chief Financial Offi- counties more leeway to create their own incen- zones are in limbo. Valley, Compton, East Los Angeles, Harbor- cer Mike Torres. “We would look to expand tive programs. As part of that, Brown has pro- “We were really counting on that tax break,” Gateway, Hollywood, Long Beach, Pasadena our facilities in other states, which have been posed lowering the voter approval threshold for said Lorna Sacramento, controller for Vogue and Santa Clarita).  offering us very similar tax credits.” local taxes and bond measures to fund economic Trimmings, an East L.A. manufacturer of belts, Companies in enterprise zones or opening development programs from the current 67 per- handbags and other accessories and a licensee facilities there get a tax credit of up to Zone criticism cent to 55 percent. for City of Commerce-based Joe’s Jeans Inc. $37,000 per year for each new hire of a local Critics have long argued that enterprise Since Brown’s proposal to kill enterprise Ten years ago, Vogue Trimmings moved resident. The amount of each credit is based zones reward companies that would have zones is only that – it must be approved by from downtown L.A.’s garment district to East on new-worker income; the credit is phased expanded regardless; they found ammunition lawmakers as part of a budget package before Los Angeles in part to be within an enterprise out after five years.  in a 2009 study from the liberal-leaning think it would go into effect – business leaders and zone. Sacramento said the company has hired Businesses in enterprise zones also can tank Public Policy Institute of California. It enterprise zone advocates last week launched a about five workers a year and has banked get sales tax credits on machinery purchases said employment levels and income growth in campaign to convince the Legislature to pre- about $100,000 in hiring tax credits. The com- of up to $20 million.  enterprise zones were roughly the same as in serve enterprise zones. pany had planned to expand its handbag work Businesses in enterprise zones can carry areas outside the zones. They say enterprise zones are one of the force this year. forward net losses they incur in one year into Also, it’s been alleged that some companies few tools that the state has to retain existing “If the enterprise zone program were ended, future years and receive state tax deductions have abused the enterprise zone program by businesses and attract business investment. we would probably hire fewer people than we on future earnings.  bringing in workers from outside an enterprise Taking away the program –and wiping out would have otherwise,” she said. “What’s The tax credits are applied to a company’s zone and falsely claiming they were local resi- existing tax credits – would send a bad signal more, there would be a penalty for us in the state income tax payments. If the credits exceed dents in order to claim tax credits. to executives. form of higher taxes.” the income tax owed, the excess amount can be H.D. Palmer, Gov. Brown’s spokesman on Business leaders are most upset about the banked for use in future tax years. budget issues, said enterprise zones have created Outward bound? state taking away tax credits that companies Sources: California Housing and Community Development Department; Business Journal research little in the way of documented economic benefit. “If the state has a program that generates tax already have. “There’s been a body of research that sug- credits for companies and then the state says it “When the state goes back on its word, then gests that enterprise zones have not proven to will take those tax credits away, why should a nobody trusts state government, particularly One company that may expand facilities create the benefits that proponents tout,” company even stay in California after this?” said the business community,” said David Fleming, outside California if enterprise zones are elimi- Palmer said. “What’s more, they generally end Armando Jamjian, a managing partner with the founding chairman of the Los Angeles County nated is South Gate-based Glasswerks Inc., up shifting economic activity from one area of downtown L.A. accounting firm Rivera Business Federation and an attorney at down- which makes glass for the construction indus- the state to another.” Jamjian & Dillard LLP and a board member of town L.A.’s Latham & Watkins LLP. try. Glasswerks, which has hired dozens of The governor’s proposal to eliminate the the California Association of Enterprise Zones. “The governor is issuing the wrong mes- workers in recent years to bring its South Gate enterprise zones is one part of a reform pack- Jamjian and other enterprise zone advocates sage at the wrong time,” Fleming said. We work force to 200, has an estimated $600,000 age he is trying to implement to help ease the are supporting legislation that will be intro- should promote enterprise zones and most cer- in accumulated enterprise zone tax credits. The state’s $25 billion budget deficit. duced this month in Sacramento that would tainly make sure Sacramento keeps its word on company also has 135 workers at plants in Palmer said the governor instead wants to tighten some of the caps and controls on the existing tax write-offs.” Loans: Some Analysts See Opportunity in Lending Market are coming out in the market and looking for ulators have discouraged many community obtain bank financing despite signs that the Continued from page 34 deals, and the deals are out there,” he said. banks, which tend to have higher commercial local market is stabilizing. The county office Comprehensive data on commercial real property loan concentrations, from making market vacancy rate held steady at 17 percent ing last summer. Paul Cleary, the credit estate lending by credit unions are hard to many new commercial real estate loans, over the last half of last year, stopping a slide union’s vice president of business lending, said come by, but analyst Penrod noted that com- according to experts familiar with banks’ inter- and giving observers hope that the market has the institution did not have significant prob- mercial loans – an umbrella category that actions with regulators. reached bottom. lems with the loans during the recession but includes commercial real estate – held steady “A lot of banks, particularly out here in the “Right now, for Lockheed to come into this decided to play it safe nevertheless. at $2.1 billion among all county credit unions Western states, have a lot of exposure to com- market at this time, I think it’s a very smart Since returning to the market, Cleary said during the first three quarters of last year. Dur- mercial real estate,” said Aaron Deer, a bank strategic plan because they’re able to get into a he has noticed a clear desire in the market for ing that same stretch, equivalent loans at local analyst with New York’s Sandler O’Neill & market where there is a demand for borrow- such loans that is not being met by traditional banks fell 6 percent, according to data from the Partners LP. “The regulators are being more ing,” said commercial real estate broker Linda commercial property lenders. Federal Deposit Insurance Corp. attentive to those ratios.” Lee, senior managing director at the Glendale “Credit unions over the last couple months Despite the stabilization of the market, reg- Indeed, brokers say it is still difficult to office of Charles Dunn Co. Thumbnails LABJ User Guide Front Page Table of Content

36 LOS ANGELES BUSINESS JOURNAL FEBRUARY 7, 2011

PHOTOS BY RINGO H.W. CHIU/LABJ Working for Scale: At left, a fishing boat at Fish Harbor at Port of Los Angeles’ Terminal Island. A catch is unloaded by workers at Tri-Marine Fish Co. Fishing: Port Fishermen Fear the End of the Line

industry moved offshore in the 1970s and ’80s, les is under pressure to make more profitable Continued from page 1 with the last cannery closing in 2001. Terminal Position? use of its waterfront land. Yet the fishing continues. Today, marine Historic Fish Harbor is nestled into The port’s internal planning document sug- other trade-related industries, the Port of Los animals regularly offloaded in the harbor Terminal Island, where a new container gests possible different uses for Terminal Angeles is about to embark on a Terminal include albacore, black cod, halibut, crab, lob- depot could be located. Island and Fish Harbor. Among its observa- Island revitalization project that could displace ster, prawn, shrimp, squid, swordfish and tions are that the area “provides the greatest what remains of the historic fishing operation. shark. The canneries have been replaced by a opportunity … to expand cargo handling facili- “We are now handcuffed. This is the last handful of small fish processing plants includ- 110 ties because it is located furthest away from stand for fishermen,” said Anthony Vuoso, ing Tri-Marine and its neighbor, Western Fish any residential areas.” More specifically, it executive vice president of Tri-Marine Fish Co., a few hundred yards down the dock. They said the port should “consolidate” and “mod- Co., which ships about 300 tons of frozen sar- don’t can the fish, but each one processes and Vincent ernize” commercial fish processing facilities dines, mackerel, squid, bonito and tuna world- markets the catch of boats it contracts. Thomas and, if necessary, put them in other locations. wide every day. Additionally, dozens of independent fisher- Bridge 47 One of only four processors still at the port, men – many of them immigrants from Vietnam Finding new home Tri-Marine is on the verge of signing a five-year – began keeping their boats at the slips in Fish Though the document mentioned no specific lease with the port. But Vuoso is far from pleased. Harbor. Often living aboard the craft and stay- locations, port officials said that one potential Port of Los Angeles Tri-Marine had hoped to sign a 20-year ing at sea for days at a time, the fishermen sell area for fish processing might be the now-aban- lease. That would give it the stability needed to directly to ethnic restaurants or brokers whatev- doned site of the old Southwest Marine shipyard er they catch: sea urchins, sea cucumbers and 5TH at the island’s southwest corner. Last week, the expand its 40,000-square-foot dockside facility TERMINAL WAY with a $2 million cold-storage warehouse. But hagfish – commonly known as “slime eel” – Los Angeles City Council sustained a decision those plans are no longer financially feasible seafood that previously had little local appeal. 9TH FISH by the Harbor Commission denying a Long since the port has refused the 20-year lease. “The fishing community is the backbone of HARBOR Beach company’s bid to build a shipyard there. “Our growth has been capped,” he said. the area’s culture,” said Dianne Pleschner- SAN The fishing operations, port spokesman Main Channel About 18 months ago, the port issued a Steele, executive director of the California PEDRO S. HARBOR BLVD. Phillip Sanfield said, “are part of the history planning document suggesting possible future Wetfish Producers Association, a non-profit and fabric of the port. We want them there. It’s uses for Terminal Island, including Fish Har- organization in Buelton representing fishermen. 19TH S. SEASIDE just a matter of finding them a home in a way bor. Among its recommendations were moving In 2009, she said, Fish Harbor processors paid AVE. that’s strategic.” 22ND SIGNAL the processors and boats to make way for a fisherman more than $13 million for their catch, Within the next few weeks, the port will container terminal. but, adjusted for inflation, that was only a fraction start a six- to eight-month planning process However, port officials are quick to point of what they were paying at the harbor’s peak. West Channel that will include a series of public hearings on

out that no decisions have been made and they Terminal Island’s future. The idea is to adopt a E. could further extend Tri-Marine’s lease. Even Wariness on the water AV IFIC plan that the port can begin implementing

if it and the other fish operations were forced Terry Herzik has witnessed many of the within three years. C

to move, officials promise a new home would changes at the harbor. PA . “I’ve encouraged the fishing industry to be S be found for them elsewhere in the port. The 64-year-old fisherman has been captain 1/2 mile part of the planning process,” Knatz said. “We “We want to provide more space at other of the 34-foot Sun Star for 35 years. For at don’t want to discourage coastal fishing.” locations,” said port Executive Director Geral- least 15 of them, he has been fishing out of SAN PEDRO People in the fishing industry, however, are dine Knatz. “We’ll be working with the fisher- Fish Harbor, where he makes twice-weekly BAY skeptical. men and processors.” trips to the outer Channel Islands for sea Relocating operations, they said, would be urchins and sea cucumber. cost of maintenance, and especially fuel, rises. exceedingly difficult, especially for a company Colorful history The animals are hard to get. He has to anchor “The demand has decreased so the main like Tri-Marine that has invested millions of Still, the fishermen and processors are wary the boat, use an air compressor and diving gear, market now is domestic,” he said. dollars in infrastructure. of the port’s intentions, especially given the and descend to the ocean bottom to harvest them Still, Herzik would like to stay at Fish Har- “It takes many years to develop a plant, long, slow decline of a cannery row that once by hand. However, with Asian demand for them bor for another five years before retiring to his including going through the permitting comprised 18 plants and provided jobs for high, he has made a living doing it. home in Brea with his wife. process,” Pleschner-Steele said. “How do you 17,000 workers and 2,000 fishermen. “They are definitely an acquired taste,” “This is valuable real estate that I hope we re-create that somewhere else?” Fish Harbor was started more than a centu- says Herzik, whose main customers are small don’t lose. But I think ultimately it will disap- The prevailing mood down on the docks is ry ago by Japanese immigrants who caught mom-and-pop processors or brokers who sell pear,” he said, sitting on the deck of his boat. more of resignation than anything else. How- mostly tuna and, later, sardines. That led to the to Asian restaurants and markets. “There aren’t many young bloods here. And as ever, some fishermen are still doing what they growth of major canneries including the Van Lately, though, the market hasn’t been kind. we slowly die off they’ll find some other use. I can to adapt to changing times. Camp Seafood Co., which marketed Chicken He goes out to sea about twice a week and hope the fishing lasts, but I don’t encourage For years, Bob Bertelli, 63, fished abalone, of the Sea, and the giant StarKist, which got grosses less than $6,000 a catch: about 1,000 my sons to follow me into it.” halibut and sea urchins. Three years ago, he added its start here. pounds of sea cucumbers at about $3 a pound With good reason. After a lull during the sea cucumbers to meet rising demand from China. In the 1950s and ’60s, the operations and 4,000 pounds of urchins worth about 70 recent recession, international trade is again on Now, he sells about $60,000 to $80,000 employed an army of fishermen who cruised cents a pound. After fuel, repairs and paying his the rise, which means Fish Harbor may have a worth of produce each year harvested from his up and down the coast as far south as Central one assistant, his boat is “marginally profitable.” future as a cargo terminal. Also, with the Pana- 36-foot boat Dragon. It’s a living, even if the America. Then, pounded by foreign competi- The reasons, according to Herzik: A long- ma Canal expected to complete a $5 billion future is uncertain. tion, soaring labor and fuel costs, government suffering Japanese economy has led to a one- expansion in 2014 that will likely increase “This is a hard job,” Bertelli said. “Most regulations and fluctuating market prices, the third decline in the price for urchins even as the competition from East Coast ports, Los Ange- guys do it because they love it.” Thumbnails LABJ User Guide Front Page Table of Content

FEBRUARY 7, 2011 INDEX LOS ANGELES BUSINESS JOURNAL 37

‘Taylor’s very ‘It sounds horrible, ‘My parents business minded but we knew escaped Poland and many people the money was just as World War don’t know it.’ coming and it did.’ II began. My father RUSSELL ARMSTRONG, JIM MORRIS, saw what was Crescent Financial JCL Barricade Co., coming.’ Partners Inc., on company’s JOE CZYZYK, on reality TV star wife, credit card debt, Mercury Air Group, PAGE 3 PAGE 12 PAGE 14

PEOPLE D Hughes, Mark ...... 1/34 McCarthy, Robin ...... 38 S Deer, Aaron ...... 1/34 McLaughlin, James ...... 8 Sambol, David ...... 10 Doud, Ernest ...... 12 Sanfield, Phillip ...... 1/36 J Metchek, Ilse ...... 6 Schey, Peter ...... 6 A Jamjian, Armando ...... 38 Miles, Ken ...... 38 Schmidt, Karl A...... 38 Allen, Bill ...... 39 E Jamjian, Armando ...... 1/35 Mirisch, John ...... 39 Schneider, Kurt ...... 3 Armstrong, Russell ...... 3 Edwards, Jim ...... 6 Miyares, Urban ...... 5 Schwartz, Lee ...... 38 Armstrong, Taylor ...... 3 Ely, Bert ...... 1/34 K Moran, Frederick ...... 5 Sherman, Jill ...... 3 Kennedy, John ...... 3 Morris, Jim ...... 12 Simonian, Peggy ...... 5 B F Kim, Joanne ...... 7 Morris, Susan ...... 12 Soon-Shiong, Patrick ...... 10 Babek, Rob ...... 1/35 Fantasia, Michael ...... 12 Kim, Oliver ...... 1/34 Mozilo, Angelo ...... 10 Farnworth, David ...... 5 King, Graham ...... 29 Beckloff, Mitchell ...... 1/34 T Feiman, Daniel ...... 38 Klein, Conrad Lee ...... 1/34 Bertelli, Bob ...... 1/36 Thielman, Brent ...... 8 Fleming, David ...... 1/35 Knatz, Geraldine ...... 1/36 P Beutner, Austin ...... 10 Torres, Mike ...... 1/35 Bretthauer, John ...... 1/34 Foldes, Jessica ...... 29 Kravetz, Norman ...... 29 Painter, Gary ...... 25 Brown, Jerry ...... 1/35, 38 Francis, Wade ...... 7 Kuperman, Leon ...... 5 Pair, Christopher ...... 1/34 Browne, Cathy ...... 1/35 Palmer, H.D...... 1/35 V Vidal, Gore ...... 39 G L Pedder, Lindsay ...... 3 Villaraigosa, Antonio ...... 10, 39 GK Films ...... 29 LaSalle, Mike ...... 3 Penrod, Daniel ...... 1/34 C Vuoso, Anthony ...... 1/36 Campos, David ...... 12 Lee, Linda ...... 1/34 Leibovitch, Syd ...... 29 Chadima, Steve ...... 3 H Levin, Michael ...... 8 R W Charney, Dov ...... 6 Harris, Kamala ...... 10 Lynton, Michael ...... 10 Reynolds, Jack ...... 1/34 Waldorf,Greg ...... 10 Chen, Heng ...... 7 Hatcher, David ...... 5 Riordan, Richard ...... 14/16 Woods, Edward ...... 1/34 Citro, Ryan ...... 3 Herzik, Terry ...... 1/36 Cleary, Paul ...... 1/34 Hoffman, Bruce ...... 29 M Roski, Ed Jr...... 10 Cowan, Jeff ...... 29 Houge, Chris ...... 29 Mangiofico, Gary ...... 39 Rowen, Eric ...... 1/34 Y Czyzyk, Joe ...... 14/16 Hughes, Alex ...... 1/34 Marlen, James ...... 8 Rudinica, Michael ...... 4 Yun, Lawrence ...... 25

COMPANIES, Cereplast Inc...... 4 Harlem Globetrotters ...... 3 Mattel Inc...... 10 Studley Inc...... 29 Health Net Inc...... 10 Medtronic Inc...... 3 ASSOCIATIONS, ETC. Charles Dunn Co...... 1/34 Suzan Hughes Enterprises ...... 1/34 City National Corp...... 7 Healthcare of Today Inc...... 4 Mercury Air Group ...... 14/16 Colony Capital LLC ...... 10 Herbalife Ltd...... 1/34 Countrywide Financial Corp...... 10 HomeData Corp...... 25 T N A Crescent Financial Partners Inc...... 3 Tetra Tech Inc...... 10 Nara Bancorp Inc...... 7 Accel Partners ...... 10 Crown Poly Inc...... 1/35 THQ Inc...... 10 Activist Investor ...... 8 I National Association of Realtors ...... 25 Tri-Marine Fish Co...... 1/36 Aecom Technology Corp...... 4 Idealab ...... 3 NSBN LLP ...... 38 AEG ...... 10 D International Rectifier Corp...... 10 D.A. Davidson & Co...... 8 U American Apparel Inc...... 6 O Disabled Businesspersons Association . . .5 U.S. Small American Premier Bank ...... 10 J OC Marathon ...... 12 Doud Hausner & Associates ...... 12 Business Administration ...... 1/34 Ameron International Corp...... 8, 10 JCL Barricade Co...... 12 UberMedia Inc...... 3 Avery Dennison Corp...... 10 Joe's Jeans Inc...... 1/35 P UGL Equis Corp...... 29 E Parker Milliken Clark Unicon Financial Services Inc...... 7 eBay Inc...... 5 B K O’Hara & Samuelian ...... 38 eHarmony.com Inc...... 10 United Air Lines Inc...... 14/16 Barington Capital Group ...... 8 Kinecta Federal Credit Union ...... 1/34 Physician Hospital System ...... 4 El Al Israel Airlines Ltd...... 14/16 USC Lusk Center for Real Estate ...... 25 BeautyTicket.com ...... 3 Knobbe Martens Olson & Bear LLP . . . . .4 Port of Los Angeles ...... 1/36, 10 Electricite de France ...... 4 Benchmark Co. LLC ...... 5 ProMax Systems Inc...... 4 Equity Office Properties LLC ...... 29 Bidz.com Inc...... 5 Public Policy Institute of California . . . .1/35 V BP pl ...... 10 Ernst & Young LLP ...... 3 L Vitality Inc...... 10 Breckenridge Insurance L.A. Realty Partners ...... 29 Vogue Trimmings Inc...... 1/35 Latham & Watkins LLP ...... 1/35 R Services Inc...... 4 F Lion Capital LLP ...... 6 RBF Consulting ...... 4 Browne Woods George LLP ...... 1/34 Federal Deposit Insurance Corp. . .1/34, 10 Lockheed Federal Credit Union ...... 1/34 Realty Bancorp Equities ...... 29 W Build It Backwards ...... 38 Film Fresh Inc...... 4 Los Angeles City Council ...... 10 Recentis Intermediaries LLC ...... 4 Western Fish Co...... 1/36 First General Bank ...... 10 Los Angeles County Riot Games Inc...... 29 William Morris C Business Federation ...... 1/35 Rivera, Jamjian & Dillard LLP ...... 1/35 Endeavor Entertainment LLC ...... 29 California Association of G Los Angeles County Rodeo Realty Inc...... 29 Wilshire Bancorp Inc...... 7 Enterprise Zones ...... 1/35, 38 Gambol Industry Inc...... 10 Economic Development Corp...... 39 Women at Work ...... 38 California Credit Union ...... 1/34 Glasswerks Inc...... 1/35 Los Angeles Universal Preschool ...... 39 S California Credit Union League ...... 1/34 Graziadio School of Lucky Baldwin's British Pub & Café . . . . .5 Sandler O'Neill & Partners LP ...... 1/34 California Department Business and Management ...... 39 Y Schwartz Profitability Group ...... 38 of Transportation ...... 12 Greenberg Traurig LLP ...... 1/34 Yahoo Inc...... 29 California Fashion Association ...... 6 M Shamrock Capital Partners ...... 3 California Wetfish Producers Assn. . . .1/36 Majestic Realty Co...... 10 Sotheby's International Cathay General Bancorp ...... 7 H Marcum LLP ...... 1/35 Realty Affiliates LLC ...... 29 Z CBS Interactive Inc...... 6 Hanmi Financial Corp...... 7 Marina del Rey Hospital ...... 3 StarKist Co...... 1/36 Zacks Investment Research ...... 5

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. Thumbnails LABJ User Guide Front Page Table of Content

38 LOS ANGELES BUSINESS JOURNAL COMMENTARY FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL ® What’s the Deal, Governor? 5700 WILSHIRE BLVD., SUITE 170, LOS ANGELES, CA 90036 ET’S say you and I make a deal. If you agree state on its offer moved their businesses, not their Now, you could debate whether enterprise (323) 549-5225 FAX 549-5255 to move into my not-so-great neighborhood families, into not-so-great neighborhoods that zones, net-net, are beneficial or not. If you had that www.labusinessjournal.com L and be a good citizen, I’ll give you some- make up L.A. County’s eight enterprise zones. The debate and concluded that they didn’t do much thing in return. For example, I’ll pay all your utility businesses don’t get free utilities, they get state tax good or that there are too many abuses or they oth- PUBLISHER & CEO bills for 15 years. credits for 5 years in return for hiring erwise are unjustified, then fine, let’s have an MATTHEW A. TOLEDO [email protected] | ext. 207 Now, let’s say you decide to take people from the distressed neighbor- orderly wind-down of them. a chance and you move your family. hoods. And it’s not me who wants to But that’s not the issue here. The issue here: A Over time, you and the other folks renege on the deal, it’s Gov. Jerry deal’s a deal. Companies made long-term commit- EDITOR CHARLES CRUMPLEY who took me up on my deal work to Brown. ments in good faith to hold up their end of the deal, [email protected] | ext. 208 improve your new neighborhood, to What’s the same as in the exam- and the state should not just kill the deal in mid- DESIGN DIRECTOR make something of it. ple? The part about the backstabbing. stream. ROBERT LANDRY [email protected] | ext. 243 But a few years later, I show up Brown wants to kill enterprise (By the way, isn’t this the same state that says MANAGING EDITOR and say, “Ummm, you know, this zones because they’re costing the state we can’t undo the extremely generous pensions to LAURENCE DARMIENTO arrangement is costing me money. money in his view. And he doesn’t state workers because a deal’s a deal?) [email protected] | ext. 200 Deal’s off.” simply want to phase them out – that The damage from this goes beyond that sus- DEPUTY MANAGING EDITOR STEVE SILKIN Now you could say, “Wait right COMMENT is, stop accepting new participants tained by the businesses in enterprise zones. This [email protected] | ext. 229 there. You’re backstabbing me. We while continuing to pay the present does damage to the already strained relationship NEWSDESK EDITOR made a deal, and a deal should be a participants. No, he wants to stop pay- between businesses and the state government. TOM HICKS deal.” CHARLES ing the present participants, too – those In the article on page 1, a local accountant [email protected] | ext. 223 You could – you should – argue CRUMPLEY who moved into enterprise zones in named Armando Jamjian, who’s also on the board REPORTERS RICHARD CLOUGH that you’re the one who took a good faith, are still there and were of the California Association of Enterprise Zones, [email protected] | ext. 251 chance and moved your family. You and the others counting on the state to hold up its part of the deal. asked: “If the state has a program that generates tax DEBORAH CROWE who accepted the deal are the ones who worked to It gets even worse. As you can see in the article credits for companies and then the state says it will [email protected] | ext. 232 HOWARD FINE improve my iffy neighborhood. The least you on page 1 of this issue, a number of companies in take those tax credits away, why should a company [email protected] | ext. 227 should get is your free utilities for the rest of the enterprise zones have banked unused tax credits even stay in California after this?” DAVID HALDANE 15-year term. That was the deal, after all. because they’ve sustained some tough years. They Good question. Governor, have you got an [email protected] | ext. 225 ALEXA HYLAND This is a made-up example, of course. But it were counting on using those tax credits in future answer to that? [email protected] | ext. 235 basically is what’s happening for real with enter- years, but Brown wants to erase those unused cred- ALFRED LEE prise zones in the state. its, too. In other words, Brown not only wants to Charles Crumpley is editor of the [email protected] | ext. 221 NATALIE JARVEY Now, what’s happening for real is different go back on the deal today, he wants to take back Business Journal. He can be reached at [email protected] | ext. 230 from the example. Californians who took up the the benefits from past years. [email protected]. JOEL RUSSELL [email protected] | ext. 237

CHIEF EDITORIAL PHOTOGRAPHER  RINGO H.W. CHIU LABJ FORUM [email protected] | ext. 256 RESEARCH DIRECTOR DAVID NUSBAUM Wall Street is enjoying a boom period while high unemployment What is the main [email protected] | ext. 236 Hire continues to plague Main Street, particularly in California. reason for the EDITORIAL ASSISTANT JONATHAN POLAKOFF So the Business Journal asks: jobless recovery? [email protected] | ext. 239

VICE PRESIDENT OF ADVERTISING Power? JOSH SCHIMMELS [email protected] | ext. 218 ASSOCIATE SALES MANAGER  LEE SCHWARTZ Other jobs would flow from construction; it’s a job DARRIN SENNOTT  [email protected] | ext. 220 Principal DANIEL FEIMAN multiplier and there are a lot of construction-related ADVERTISING ACCOUNT Schwartz Profitability Group Managing Director industries that are idle. The other cause is the slow MANAGERS MICHELLE GIUNTA When companies have to let people go, they Build It Backwards unwinding of banks’ credit problems, which inhibit [email protected] | ext. 214 find a way to do the same with less and remove the Many companies are not sure yet whether this is a some financial institutions from normal levels of MICHAEL KOSASKY waste. Now, as the economy begins a renewal, recovery or not. They’re thinking, “Why hire just to support for business expansion and new ventures. [email protected] | ext. 253 there’s no need to hire back those that were let go. fire?” Most companies are waiting to pay their payable BILL MOIR  [email protected] | ext. 216 The unemployment rate will remain higher during until they collect their receivables, so the overall flow KEN MILES ROSZ MURRAY this recovery than ever before. of cash in the economy continues to be slow. Managing Partner [email protected] | ext. 215 NSBN LLP SOLOMON ORTASSE   [email protected] | ext. 252 ROBIN McCARTHY KARL A. SCHMIDT In the long run, employers will have no choice JIM SLATER Executive Director Partner but to hire to meet demand after stretching their [email protected] | ext. 209 Women at Work Parker Milliken Clark O’Hara & Samuelian current work forces to the limit, but this job growth SPECIAL EVENTS/ Employers are hiring slowly due to anxiety One ankle weight on the job market is the will not be at a level we have been accustomed to. ADVERTISING COORDINATOR MARISSA DE LA CRUZ about the future of the economy. More people are enduring slack in construction and development. Employers are probably going to hire 80 percent of [email protected] | ext. 213 being hired in part-time, nonbenefit positions to PRODUCTION ARTISTS save the employers expense. Part-time employees SALLY FOSTER are also easier to layoff. So it’s taking employees [email protected] | ext. 212 longer to find full-time jobs with benefits. PATTY TSAI-CHU [email protected] | ext. 242 CIRCULATION DIRECTOR MICHAEL LEVINE Los Angeles Business Journal Poll [email protected] | ext. 247 CUSTOMER SERVICE What is the main reason for the jobless LE MILLHAUSER recovery? [email protected] | ext. 245 ZAINABU BRYANT Employers have Employers are [email protected] | ext. 244 learned to get by unsure of future tax with fewer workers. rates, health care CONTROLLER costs, etc. NANCY SCHWARTZ [email protected] | ext. 202

ACCOUNTS RECEIVABLE SPECIALIST PATRICIA A. BENSON 20% [email protected] | ext. 231 ASSISTANT TO THE PUBLISHER BETH THERIAC [email protected] | ext. 249 62% 18% RECEPTIONIST ERIN SCHAUER [email protected] | ext. 270

There isn’t a big enough increase in sales yet. CITY BUSINESS JOURNALS Online results for week ended Feb. 2 NETWORK Thumbnails LABJ User Guide Front Page Table of Content

FEBRUARY 7, 2011 COMMENTARY LOS ANGELES BUSINESS JOURNAL 39 Hidden Drive Behind Parking Measure Medical property developers in Beverly Hills fuel 2P campaign for benefit of their buildings’ tenants.

By JOHN MIRISCH

T a time when people are justifiably questioning the extent of services government can afford to provide, there A are some in Beverly Hills saying, “More entitlements!” Are these people big-government Democrats who think that more government is the solution to everything? Good question ... While Los Angeles Mayor Antonio Villaraigosa proclaims, “The era of free (government-subsidized) parking in L.A. is over,” some medical developers in Beverly Hills are actually working to expand it. Seriously. Through a slick, opportunistic and deceptive campaign, these special interests are spending hundreds of thousands of dollars to try to get the residents of Beverly Hills to pass a ballot measure, Measure 2P, which would expand municipally subsi- dized free parking in the city. Why? The sponsors are medical building landlords. Their buildings are underparked and they use free city parking for their tenants’ patients, thereby helping to justify some of the highest triple-net PHOTO BY THOMAS WASPER Pulling In: Bedford Drive parking garage in Beverly Hills. medical rents around (in fact, one of their tenants recently com- plained in these pages about perceived gouging). Perhaps they’ll try to tell you that their “generosity” in fund- ing the measure has nothing to do with their triple-net rents. It’s offers is not enough, but it seems there are those who truly to balance the Parking Enterprise Fund without being hand- all about the retailers, they’ll tell you. believe that nothing is too expensive for the public’s money. cuffed by unfunded mandates pushed by special interests. That would be sheer nonsense. Bedford Drive is not Rodeo Government-subsidized parking for medical offices makes Ultimately, if the measure passes, it will be bad for business. It Drive. Bedford has some retail, but is mainly home to a large no sense. On the other hand, what does make sense would be will make it more difficult for the city to perform much needed number of doctors’ offices, some of which were ridiculously enti- for the city to make up for some of the mistakes of the past with deferred maintenance on city lots. It will likely make it impossible for tled years ago with little or no parking requirement. The doctors an ordinance requiring medical office buildings to provide vali- the city to build lots in underserved areas and it will hamper develop- already enjoy the benefits of an antiquated and inequitable busi- dated parking for their patients. ment by stopping the creation of in-lieu parking programs that would ness tax system that has them paying less than almost everybody By combining the worst attributes of ballot-box budgeting serve small businesses in these underdeveloped areas. In fact, to stop else. What’s more, this measure would mandate two hours of free and initiative abuse, Measure 2P (which was already declared the drain on the city’s general fund, which backfills the shortfall in parking at the city’s Bedford lot (while the sponsors charge close unconstitutional by a trial court and is tied up in litigation) the Parking Enterprise Fund, Measure 2P could ultimately force Bev- to $8 an hour at their lots on the same street), but not at the Mon- would bind the hands of future councils and effectively priori- erly Hills in the direction of Los Angeles – to sell, lease out or shut tage lot, which is in the heart of Beverly Hills’s commercial and tize free parking – estimated to cost the city $1.3 million per down some lots. Talk about killing the goose that laid the golden egg. shopping district (and where the sponsors own no buildings). year – over essential city functions such as police, fire, schools Letting special interests prevail is bad for the business com- and senior services. munity at large. Perhaps this realization is just one of the rea- Staying competitive? It could also encourage other special interest groups to try to sons that the Beverly Hills Chamber of Commerce voted to The sponsors suggest Beverly Hills needs free parking to buy elections with appealing – if hypocritical and fiscally irre- actively oppose the initiative. remain competitive with Westfield Century City, the Grove, the sponsible – grabs motivated by the same brazen “It’s all about And for those of us who feel that there should be limitations Beverly Center, etc. Just how many of those complexes house me” attitude. placed on government, it seems that the measure’s sponsors are medical offices? Just how much of that free parking is paid for Ironically, while taking measures to try to shore up the hem- intent upon giving us more reasons why there also should be lim- by the municipalities? The answer, of course: none. orrhaging Parking Enterprise Fund, the Beverly Hills City itations placed on business. With apologies to Gore Vidal, Mea- Clearly, Beverly Hills businesses, including the proponents, Council has actually managed to expand free parking. Howev- sure 2P has given both initiative abuse and chutzpah a bad name. would be free to set up assessment districts or business er, the city, which according to the Business Journal already is improvement districts to provide free parking if what the city extremely generous with free parking, needs to have the ability John Mirisch is a Beverly Hills City Council member. Investing in Education Pays Dividends By GARY MANGIOFICO and BILL ALLEN dropouts are also less likely to spend on home and vehicle pur- teachers and give them the resources and tools they need. chases, and they support fewer local businesses. They contribute • Improve access and increase funding for early childhood ATA recently released by the California Department of on average about $60,000 less per person in taxes to state and education. Research has shown that individuals who receive a Education reports that the high school dropout rate in local governments over a lifetime according to the alliance. quality early childhood education are more likely to become D Los Angeles County rose to 24.3 percent for 2008-09, up With the dropout rates being so high, and growing, we are productive, contributing citizens and less likely to lead a life from 21 percent in 2007-08. In some of our county’s high essentially giving up on an entire generation of young people. plagued by violence and crime. Starting children off in the right schools, six of 10 students drop out. According to the Alliance for By doing so, we have an economic, ethical and equity crisis on direction is crucial to successful educational outcomes through- Excellent Education, more than 70,000 young people dropped out our hands. So what can we do? out their K-12 experience. of high school in the Los Angeles-Long Beach metropolitan area First, we must admit we have a serious crisis and get • Prepare students to succeed in higher education programs in 2008. The alliance maintains that cutting this number in half involved. In Los Angeles County, a growing grassroots move- as well as in the workplace. Having a solid K-12 education would result in $575 million in additional earnings in an average ment is taking hold around a 52-point plan for economic devel- includes expanding the number of arts, language, technical and year for a single class of new graduates in Los Angeles. opment to make our communities healthier, more prosperous general education offerings. Students must be both college and The numbers associated with not graduating from high school and sustainable places to live and productively work. career ready. speak for themselves. The unemployment rate for high school This plan was developed with input from more than 1,070 • We must ensure that our young people are being educated. dropouts is more than 300 percent greater than that for students stakeholder organizations. The first goal is to prepare an educat- Make no mistake, it is in all our best interests. Here are three with higher education. The alliance reported that a high school ed work force, with its first objective being to ensure successful facts you can take to the bank: The Labor Department estimates dropout earns, on average, about $260,000 less than a high school education outcomes at every level so that all students, at a mini- 90 percent of new high-growth, high-wage jobs will require graduate over his or her life. According to the Center for Labor mum, achieve grade-level proficiency and graduate. some level of postsecondary education. California’s economy Markets at Northeastern University, the nation’s young dropouts Second, we must make education a community priority by would accrue an additional $40 billion over the lifetimes of just in 2007 on average earned $8,358 annually, well below an aver- connecting schools and communities, by meaningfully engaging one year’s dropouts, according to the alliance, if those students age of $15,149 for all young adults and one-third that of the parents, and by realizing that funding education is not a cost, it’s could be converted to graduates. Businesses rank having an edu- $24,800 average earned by those with a college degree. In fact, an investment. The Rand Corp. estimates that there is a 16 percent cated, skilled work force as the No. 1 determinant on where to those who receive a graduate level education earn more than $1 to 17 percent rate of return for every dollar invested in education. locate. Now, it’s time to ensure that our students stay in school. million more over their careers than those who do not. Third, we must take concrete steps to improve our schools, From an economic development perspective, the alarming including: Gary Mangiofico is associate dean of fully employed and high school dropout rate in Los Angeles County is a lifeblood • Invest in increased metrics to measure student performance executive programs at Pepperdine University’s Graziadio issue. Not only are nongraduates much less employable – hurt- and outcomes. Just as important, hold teachers accountable to School of Business and Management and is the former CEO of ing our ability to attract and retain businesses, and compete in a those performance measurements and student outcomes. Teachers Los Angeles Universal Preschool. Bill Allen is CEO of the Los globally competitive economic environment – but high school are the means to successful student outcomes. We must empower Angeles County Economic Development Corp. Thumbnails LABJ User Guide Front Page Table of Content

40 LOS ANGELES BUSINESS JOURNAL FEBRUARY 7, 2011

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Pay the balance in full within 10 days of the statement closing date and get a 1.5% discount on virtually all purchases made that month. The discount will appear as a credit on the following billing statement. Pay 10% of the balance from new activity on your billing statement, plus the entire amount of any previously deferred payment or amounts past due by the “Please Pay By” date on that statement, and you can extend payment on the rest until the closing date of your next billing cycle, without penalty. Visit open.com/plum for details. ©2011 American Express Bank, FSB. All rights reserved. Thumbnails LABJ User Guide Front Page Table of Content

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labusinessjournal.com 4 LOS ANGELES BUSINESS JOURNAL UP FRONT FEBRUARY 7, 2011 6 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS FEBRUARY 7, 2011 FEBRUARY 7, 2011 NEWS & ANALYSIS LOS ANGELES BUSINESS JOURNAL 7 2 LOS ANGELES BUSINESS JOURNAL FEBRUARY 7, 2011 News and notes from FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL 5 FEBRUARY 7, 2011 UP FRONT LOS ANGELES BUSINESS JOURNAL 3 communities across NEWS&ANALYSIS OS NGELES USINESS OURNAL® L A B J REGIONAL REPORT Los Angeles County Clothing Maker Fashions New Management Team Strong Earnings Bolster Outlook for Local Banks OS NGELES USINESS OURNAL of nearly $9.5 million for the quarter, com- between banks that have worked through the L A B J FEBRUARY 7 - 13, 2011 VOLUME 33, NUMBER 6 Scoot: APPAREL: Debt piles up American Apparel Inc. (AMEX: APP) BANKING: Majority of TM Equity Fund � pared with net income of $4.2 million the same bulk of their loan loss problems and those with Volume 33, Number 6 THE COMMUNITY OF BUSINESS February 7 - 13, 2011 • $3.00 Globetrotter SOUTH BAY ern Indiana network of health care facilities. Scooter Los Angeles FRI. CLOSE, PAST 5 WKS period a year earlier. lingering concerns. Financial terms of the deal were not disclosed. 2.2 institutions see gains for Has a Ball Christensen as American Apparel works CEO: Dov Charney Ilse Metchek, president and executive “You’re going to start to see a tale of two Feb. 3: $1.06 2.0 With Hoops fends off EL SEGUNDO Checking In: ProMax Systems Inc., an to revive slumping sales. Employees: 10,000 1.8 director of downtown-based California Fash- second straight quarter. cities,” Francis said. “You are going to have a General. 1.6 ion Association, said American Apparel needs some banks that have gotten their exposure Up Herbalife Heir Makes a Case for $400 Million Trust Irvine media technology company, will be Expansion Market Cap: $75.7 million But in the decade since the death, Mark’s divorced will pursue his mother’s legal actions against the trustees. Shamrock sees stake in Cereplast Inc., an El expanding to Burbank. ProMax plans a March By ALEXA HYLAND Staff Reporter 1.4 to focus on producing even more fashion-for- By RICHARD CLOUGH Staff Reporter down and others that are still struggling Plastic Support: P/E*: N/A 1.2 LEGAL: 19-year-old and his mom wife, Suzan, has fought to get more money from the Last month, he applied for an order to have the trustees Globetrotters as a Segundo maker of bio-based plastics, has opening for the office, at 4011 W. Magnolia ward clothes to gain an edge. That’s because with it.” Front EPS: -$0.90 1.0 look to take control from trustees. estate. Since she’s gotten little, in her view, she’s suspended for allegedly misappropriating money. slam-dunk investment. raised $12 million through a private placement Blvd. The new outpost will be ProMax’s only American Apparel Inc. has been trying to 12/31 1/7 1/14 1/21 1/28 the company is facing increasing competition After enduring years of substantial losses, Those that do not have to deal with such waged a multimillion-dollar legal battle to replace the Conrad Lee Klein, one of the three trustees, said the of stock with several institutional investors. other office besides its Irvine headquarters. grow up. The downtown L.A. company has *Twelve months trailing. Source: Yahoo Finance from discount retailers such as Target and L.A.’s banking industry may finally be moving matters will be better positioned to take mar- By ALFRED LEE Staff Reporter trustees charged with overseeing her son’s money. actions indicate there’s no end in sight for the dispute, When the Harlem Globe- Cereplast expects net proceeds of $11 million, been expanding its line to include midlength Wal-Mart, and fast-fashion chains such as past its credit quality issues. ket share at the expense of those banks with Trustees hoped that the battle would stop or slow which has dragged on since 2002. He estimated each trotters visit Staples Center on which it will use to grow in Europe. On Tap flannel skirts and other items for its maturing make it smaller and more exclusive. Then it H&M and Forever 21. For the second consecutive quarter, the lingering problems, he added. Regulators Ever since he was in grade school, Alex Hughes has when Alex became a legal adult at 18. But now 19, he side has spent more than $10 million in legal fees. Feb. 27, the team won’t just be EAGLE ROCK customers. needs to raise prices to get its margins back.” “What is driving people somewhere is new majority of local banks – including big institu- will likely allow healthier banks to grow been at the center of one of L.A.’s most contentious battles. appears to have joined his mother and renewed the “It’s no more pleasant now than it was before,” said passing through town. Here’s a But sales didn’t exactly didn’t take off for Chief Executive Dov Charney built fabrications, new product,” Metchek said. tions such as City National Bank and Cathay before the rest, which could exacerbate the Alex was only 8 in 2000 when his father, Herbal- fight, reinforcing its status as one of the county’s Klein, a solo practitioner who was personal counsel to little known fact: It will actually � CENTRAL AREA Curtain-Raiser: Film Fresh Inc., an Eagle HOSPITALITY: Lucky Baldwin’s pub chain the apparel manufacturer and retailer, better American Apparel into the largest clothing Another recent development: Billionaire Bank – exceeded expectations with their earn- divide. ife founder Mark Hughes, died and left a $400 million largest, longest and most bitter trust and estate cases. be on a home stand … of sorts. Shamrock partner. “We saw a and 130 international appear- Rock-based distributor of films for online known for spandex leggings, lace bodysuits company that manufactures in the United Ronald Burkle reduced his 6 percent stake in ings, which analysts said was the clearest sig- “You will have (banks) who are coming out trust for his only son to inherit at 35. In December, Alex filed documents affirming that he Please see LEGAL page 34 The iconic trick-shot mak- real opportunity.” ances. (The Globetrotters are download, has obtained $2 million in equity grows despite co-owner’s health issues. and basic T-shirts. States. He did so by turning basic T-shirts, American Apparel to 4.7 percent last month; nal yet that a rebound is underway. faster than others,” he said. “Banks that have ers and basketball clowns have So with headliners like actually two or three teams DOWNTOWN LOS ANGELES investment from a private group. The money That’s where things are with style. Now on sweatshirts and leggings into trendy garb for he remains the largest individual shareholder “By and large the banks are all doing much credit under control are the first ones that get Eagle Rock: RINGO H.W. CHIU/LABJ How cardiologist to the substance. the new millennium. after Charney. better than they were a year or two ago,” said out of their timeout and are told you can go out been majority owned by Meadowlark Lemon and that can play simultaneously in Film and TV will go to expansion of the company’s services. Posting Profits: City National Bank branch in Pasadena. John Kennedy American Apparel has been trying to In a marketing move, the company Most significantly, American Apparel’s Aaron Deer, an analyst with New York’s San- and play now.” Shamrock Capital Partners Curly Neal long retired, what multiple locations.) African Project: Aecom Technology download site By ALEXA HYLAND Staff Reporter “On the beer aspect, I did everything,” is selling his streamline its business operations, cut costs offered a $25 voucher through the popular been under debt pressure – the company’s debt dler O’Neill & Partners LP. since the Burbank private equi- has Shamrock done? Shamrock also has reached Corp., a downtown L.A.-based technical and FilmFresh.com Farnworth said. “For me to walk downstairs – prescription for and, above all, manage its stubborn debt – online discount site Groupon that could buy as of Sept. 30 was $134 million, compared While not every bank was in the black, ty fund purchased an 80 percent For one, it’s introduced new sponsorship agreements with management support services firm, has been has raised � Regional Report UCKY Baldwin’s British Pub & Café the fridges are downstairs – it’s so tough. It better breathing. RINGO H.W. CHIU/LABJ stake in the team five years ago. elements to its show, including brands such as Spalding, Russell awarded a $13.4 million contract from the Demo- in Old Town Pasadena was dying 15 kills me going down stairs and then going which has forced the company to report that its $50 in merchandise, and Reuters reported with $120 million three months earlier. most of those posting profits in the last week Page 12: Susan and Jim Morris at JCL Barricade in downtown Los Angeles. $2 million PAGE 3 Since then, Shamrock has a penalty box for players Athletic and Campbell’s Soup. cratic Republic of Congo for a feasibility study To be considered for publication, Regional years ago. That’s when new owners back up.” ability “to continue operations as a going con- Racier: New ad for American Apparel. that it offered a similar deal in Europe, Brazil The company announced last week that or two were helped by drawing down loan loss in equity Report submissions should be e-mailed to: L cern” is at risk. and Mexico in December for the holiday lender Lion Capital temporarily waived reserves. sought to inject some life into pulling particularly outrageous And it has licensed the Globe- on a hydroelectricity site. Aecom will be working investment. David Farnworth and Peggy Simonian took Urban Miyares, founder and president of Sinkor ON THE COVER PROFILE a lagging franchise that went stunts and a four-point shot 35 trotters name for apparel, novelty in partnership with Electricite de France on the [email protected] over. They introduced a selection of Belgian Disabled Businesspersons Association, head- So the company has been stocking its Peter Schey, an attorney and spokesman shopping season. through Friday a credit agreement requiring it YOU’D HAVE TO BE CRAZY TO BRING News & bankrupt in 1993 and was in feet away from the basket. The items and even Halloween cos- proposed Grand Inga site on the Congo River. Business news from companies in Los Ange- and English ales, worked hard and created a quartered at San Diego State University’s shelves with more sophisticated clothes to for American Apparel, said the company It also has expanded its merchandise to to maintain a minimum level of profitability FISHING – Port of L.A.’s plans for Terminal NICHE – Traffic control services firm JCL its heyday before dunk artists show also is rescripted annual- tumes. The result has been high- Irvine-based intellectual property law firm, has ity stake in Recentis Intermediaries LLC, a homey atmosphere. Interwork Institute, said his organization serves appeal to its base of aging twentysomethings, doesn’t comment on its business strategies. offer more accessories such as sunglasses, over a 12-month period. Now, American Good Showing Analysis RINGO H.W. CHIU/LABJ les County or nearby areas is listed on the A NEW BANK TO L.A. RIGHT NOW. Island may force local fishermen to weigh Barricade looks to make inroads in industries like Julius Erving trans- ly so fans won’t get bored, er operating profit, but Shamrock New Outpost: RBF Consulting, an moved to a new office in Century City. The Westlake Village specialty reinsurance broker. page. Please be sure that press releases They turned it around, and the bar was suc- about 3,000 business owners annually. Most of offering discounts through the Groupon web- However, American Apparel is optimistic watches and fingerless gloves. Apparel executives are working to make the Several of L.A.'s publicly traded banks beat Doctor’s In: John Kennedy with his stress-reduction CD at Marina del Rey Hospital. fourth quarter earnings expectations. anchor. beyond the movie business...... 12 formed pro hoops – stealing though one thing hasn’t isn’t heading for the exits. Irvine-based civil engineering firm, has opened new address is 10100 Santa Monica Blvd. Recentis executives said the deal will expand specify the name of the city and the name of cessful enough that the British expatriates them were disabled when they started their site and restructuring its corporate ranks. about its future. Meanwhile, the company has made its temporary waiver permanent in addition to Kennedy said he devel- panies, which often contribute some of the Globetrotters’ changed: The Washington “There are no plans to sell an office in downtown Los Angeles. The loca- Knobbe Martens’ previous L.A. office was also Recentis’ client base. Financial terms of the the company along with the description of launched a second Lucky Baldwin’s in Sierra businesses, but 20 percent fall into Farnworth’s American Apparel announced last week “We are continuously optimizing our effi- advertising even more provocative than in the negotiating further amendments. Average Actual GOVERNMENT – Gov. Jerry Brown’s call Taking that it appointed John Luttrell, a former chief ciencies and strengthening the executive past. The new campaign features topless pho- Meanwhile, Schey has been quoted as say- Expected Earnings Swim? oped the technique after run- significantly to their employ- flash in the process. Generals still lose every game. now,” said Globetrotters tion, at 801 S. Grand Ave., will be overseen by in Century City, at 1901 Avenue of the Stars. deal were not disclosed. the news. Submissions are evaluated on the Madre. They’re now opening a third, Lucky category: those who were disabled by an acci- Bank EPS Per Share L.A. port plans may torpedo to kill enterprise zones could cost local PEOPLE A Breather ning a cardiac laboratory in ees’ stress levels. “When we were first look- The innovation apparently Chief Executive Kurt Schnei- Executive Vice President Michael Rudinica. basis of company size and the significance of Baldwin’s Trappiste Pub, in east Pasadena. dent or a disease in the midst of their careers. financial officer at Old Navy and Wet Seal, team,” Schey told the Business Journal. “We tos in addition to the usual seminudes. ing that American Apparel is working with businesses their stockpiled tax credits. Northern California and see- “Companies understand ing at the opportunity five has paid off. The team set box der. “We are trying to return the announcement. The Business Journal The longtime business partners are even think- He said oftentimes such business owners to serve as executive vice president and CFO. think that we are going to have a positive year Last summer, the company started making consultants to streamline operations. City National Bank $0.70 $0.75 INTERVIEW – Mercury Air CEO Joe � � RINGO H.W. CHIU/LABJ He replaces Adrian Kowalewski, who was and look forward to building and strengthening clothes such as button-down shirts, pleated Edwards said if American Apparel isn’t Terminal Island’s Fish Harbor. LENDING – Some of L.A.’s biggest credit At Work ing how patients would drive that workplace stress has a years ago, we saw a cherished office records in 72 local mar- the brand to its rightful place SAN FERNANDO VALLEY TRI-CITIES tries to include as many listings as possible, ing about a fourth. decide to sell or shutter their establishments, so Cathay Bank 0.13 0.18 Czyzyk uses the word “fly” even when he’s � Bar Raisers: Farnworth and Simonian at Lucky Baldwin’s in Old Town Pasadena. named executive vice president of corporate the brand.” pants and sweaters to capture American able to improve margins and cut costs soon, Nara Bank 0.04 0.10 unions are ready to check back into themselves into a frenzy huge impact and that a brand with an 80-year histo- kets last year, and is scheduled in pop culture.” WESTSIDE but some may not be published due to space But Farnworth may not be able to work at Farnworth deserves credit for sticking it out as By DAVID HALDANE Staff Reporter fishing...... 14 Doctor says program while waiting to take their healthy workplace equals a ry,” said Mike LaSalle, a this year to make 274 domestic – David Nusbaum limitations. that one. He has a degenerative disease that’s long as he can. strategy. But others are skeptical. Apparel’s core clientele of young hipsters as then its major lenders, Lion and Bank of Center Bank 0.11 0.14 commercial real estate lending. That C-suite shuffle comes as American “The way out for American Apparel is to they started to get older. But there hasn’t been America, are going to get antsy. Source: Bloomberg News to reduce stress helps tests, adversely affecting the healthy business,” he said. WESTLAKE VILLAGE BURBANK Please address all inquiries to the e-mail reduced his arms and legs to skin and bones. “Most people just quit and go on disability So Farnworth asked Simonian if she want- 2006. That was when Farnworth started to David Farnworth LEGAL – 19-year-old Herbalife heir Alex Apparel is renegotiating the terms of a credit shrink,” said Jim Edwards, a columnist for CBS an immediate impact. For the three months “If we don’t see that in the fourth quarter,” ORNINGS are busy at Terminal Island’s Fish Harbor. employee performance. results. He began researching Kennedy’s protocol has CENTURY CITY address above. If you do not receive a He can’t lift his arms, hold a glass, turn a key benefits and wait to die,” Miyares said. ed to become co-owner of Lucky Baldwin’s in have trouble lifting his shoulders and arms, and is expanding his The day begins around 4:30 a.m. when the first boats Hughes doesn’t seem willing to wait until THE LIST the relationship between not been subject to clinical the company expanded the Chadima acknowledged that Insurance Stake: Breckenridge Insur- Medical Growth: Healthcare of Today or speak for any length of time without becom- order to help him turn it around. She agreed. he was beginning to lose weight. agreement with one of its largest lenders, Lon- Interactive’s online business publication BNET ended Sept. 30, sales declined 11 percent to Edwards said. “Lion and Bank of America pub chain despite Startup response in a timely manner, don private equity firm Lion Capital LLP, to who follows the company. “It’s overbuilt many $135 million, compared with the same period a have to ask some serious question about when City National and Nara Bank both posted Marrive at dockside processing plants, where apron-clad he’s 35 to tap his $400 million trust. Dr. John Kennedy doesn’t stress and heart attacks after trials. But Minneapolis- app to include Facebook and changing names twice in one Legal Move: The Los Angeles office of ance Services Inc., a New York-based special- Inc., a Burbank-based holding company, is call (323) 549-5225, ext. 229. ing exhausted. Turning it around “I came here and there wasn’t a soul here,” At first, doctors suspected amyotrophic lat- debilitating illness. workers unload, sort and pack the night’s squirming catch. RANKING – The 25 biggest business want employees to have heart seeing startlingly better results based medical device giant Name Game LinkedIn posts, so it changed year has made things a bit diffi- Knobbe Martens Olson & Bear LLP, an ty insurance underwriter, has acquired a major- acquiring Physician Hospital System, a north- “It’s so difficult for me to lift one arm up, I So why expand now, given the situation? Simonian remembered. “And I said, ‘What are eral sclerosis, or Lou Gehrig’s disease, a debil- avoid defaulting. of its stores. So it needs to shrink its footprint, year earlier. The company reported a net loss that turnaround is going to occur.” better-than-expected profits after reducing PAGE 5 At midday, dozens of other boats motor in. Many are owned by improvement districts in Los Angeles County, attacks – and he claims to for tests and procedures after Medtronic Inc. was con- the name to PostUp. Then, cult for the young company. can’t even sign my own name,” he said. They said they had planned to open the we buying?’ Because it wasn’t like we were itating illness that destroys nerve cells in the their reserves. Even Hanmi Bank, a Kore- OR GENIUS. Vietnamese immigrants who sell such delica- have a method to help work- showing patients a relaxation vinced enough to test the last month, it bought a com- “People are like, ‘Who are “Peggy has to sign for me.” third pub before Farnworth’s condition became buying customers.” brain and the spinal cord. At USC, his doctor atown institution that has been struggling UP FRONT ranked by 2011 budgets...... 18 Twitter-based business Workers sort cies as slime eel directly to restaurants and bro- ers prevent them. CD he created for use in the doctor’s service, becoming pany called UberTwitter, a you again?’ ” he said. “But Now that Farnworth, 58, and Simonian, 44, serious, and when the space became available, They were only making about $600 per day was unable to conclusively diagnose ALS with deep problems in its loan portfolio, sur- sardines at The 20 biggest securities brokerage firms in UberMedia hopes new kers. By sunset, most fishermen are back at sea. HEALTH CARE – A Marina del Rey The Marina del Rey cardi- waiting room. the first customer when the tweet app for mobile devices, because everything is virtual will be juggling three locations, it means they decided to proceed. And the fourth loca- but needed about $1,000 to pay rent. They both because Farnworth lacked certain symptoms. prised investors with net income of $5.3 mil- People Fish Harbor. Los Angeles County, ranked by full-time lion – its first profitable quarter in two years All told, about 80 boats do business at this cardiologist wants workers to take his ologist has developed a “This is a technique that is website launched in Decem- handle sticks around. and changed its name again, these days, it’s not like you Simonian has had to take on more of the work- tion? Simonian said she’ll have to see if the continued to work at the Tourist Authority and He received the same inconclusive diagnosis in INTRODUCING TORREY PINES BANK little waterfront corner of the Port of Los Angeles. That may sound Bringing your global accounting needs registered brokers in the county...... 19 deceptively simple technique easy to understand and ber. Kennedy also is in dis- this time to UberMedia. actually have reams of sta- load. They hired a general manager to help third is successful and if she can handle the spent evenings at the pub, Simonian waitress- a second opinion from a specialist at UCLA. – after narrowing its loss reserves by $30 sizable, but it’s just a fraction of the 300 vessels that serviced what stress-reduction program to heart...... 3 that he believes can prevent learn,” said Kennedy, direc- cussions with health insur- Does a Twitter-based com- Steve Chadima, chief mar- tionery, so it’s not as chal- handle the staffing, marketing and other increasing workload. ing and Farnworth tending bar. Doctors said it’s also possible that Farnworth million. THE RIGHT BANK FOR THE TIMES. was once the West Coast’s largest cannery row. together in over 100 countries. SPORTS – Burbank investment firm was INVESTMENTS & FINANCE cardiac problems, as outlined tor of preventive cardiology ers, which could eventually pany with another name tweet keting officer for the compa- lenging as it seems.” aspects of the business. It was 1982 when Farnworth, a British It took a few years for them to build a clien- has Kennedy’s disease, a rare condition that Many bankers remain cautious about We’ve opened Torrey Pines Bank in Los Angeles now because NEED TO TALK ABOUT YOUR Now, even these survivors feel their days are numbered. willing to jump through hoops to take over the in his 2010 book, “The 15 and wellness at Marina del offer his service as a work- just as sweet? It’s a question ny, said executives decided to Chadima would not discuss “Neither of us knows where it’s going to native, moved to Los Angeles from South tele. They eventually were able to quit their causes muscle weakness and wasting. declaring a full-blown recovery, though, BUSINESS? TALK TO US. given uncertainty about the strength of the we saw an opportunity — to bring you a true community Under pressure to provide more space for containers and Harlem Globetrotters...... 3 Columns & features – Econowatch 21, Minute Health Cure.” Rey Hospital. place benefit. that has been taking up some rebrand in order to take details on whether the company go,” Simonian said. “It’s a sad situation. It’s Africa, where he was working as an engineer, tourist board jobs. Farnworth no longer enjoys going to work. The web-based protocol To cash in on his find, “This is a practice that not time at one Pasadena startup. advantage of the popularity of had to pay for new advertising, awful to watch and to not know what’s ahead to handle marketing for the British Tourist David Hatcher, a revenue manager for That’s because when customers want to greet Staying economy. TECH – Twitter-based business thinks it LABJ Stock Index 22 bank with capacity, built to take care of your business needs Please see FISHING page 36 takes workers through slow Kennedy wrote his book and only can reduce heart attacks, Since the company UberTwitter, which is well- signage or logo design with each or what’s coming up.” Authority. Simonian, who had been working West Hollywood, has been going to the origi- him he has to prop his right hand up with his Take Cathay, which earned $18.1 million BILL PAREDES may finally have a handle on the company breathing exercises as they recently launched a subscrip- but also reduce absenteeism launched last year from tech known in its world. name change. But he did seem What’s more, Farnworth, a respected beer for the Tourist Authority in London, moved to nal Lucky Baldwin’s in Old Town Pasadena left to shake hands. during the last quarter. The strong quarter, its in all kinds of times. A bank with industry–leading measures Executive Vice President RINGO H.W. CHIU/LABJ second straight, represents a dramatic turn- name...... 3 REAL ESTATE focus on a series of soothing tion website: BreatheforWell- and even enhance your perfor- incubator Idealab, it has had “The UberTwitter brand is relieved that the name-changing connoisseur, has always been in charge of the L.A. office in 1992 and they quickly for more than a decade. He comes for the “I used to love to come here,” Farnworth of financial strength and the support of Western Alliance Corporate Bank Manager scenes displayed on a com- ness.com. Individuals pay an mance at work,” said Kennedy, three different names. It one of the most prominent is behind him, at least for now. working with distributors and breweries to became friends. atmosphere. said. “But now I keep away. I don’t want to still isn’t around from a year ago, when it lost more Columns & features – Page 3, Regional 213.362.5212 HOUSING – January threw a chill into the puter screen, such as annual $15 fee for daily who has been featured on the began life in March as Tweet- brands in Twitter,” he said. “Hopefully the third time’s keep the pub stocked with rare brews such as Farnworth became a minority partner in “You feel like you know the people who meet people … because they want to shake my than $35 million in the fourth quarter. Bancorporation, a $6 billion holding company that has Airline chief Joe Report 4 But Heng Chen, chief financial officer of [email protected] TaxWoes Buildin Big Credit Unions Los Angeles County home market as prices orchards, lakes and rivers. access, but Kennedy said his “ABC Evening News.” Up, which developed a Twit- “Grabbing on to that allows us a charm,” he said. Russian Rivers’ Pliny the Younger, a pale ale Lucky Baldwin’s in 1995. The bar moved to work there,” Hatcher said. “You are friends hand and I look stupid.” raised approximately $470 million in capital since 2008. Czyzyk is set to Sound hokey? real target customers are com- – Deborah Crowe ter search engine. In August, to borrow the brand equity.” – Natalie Jarvey that only gets released once a year to select its location in Old Town Pasadena the next with them. It’s a home away from home.” But Simonian said some things haven’t parent Cathay General Bancorp, refused to fell and sales slowed...... 25 take off as head NEWS & ANALYSIS bars. But Simonian and Farnworth are thinking year, and was soon on the brink of going out Farnworth and Simonian, who’ve retained changed. an option draw overly optimistic conclusions about of L.A. chamber. Enterprise Zones Banking Again on CHART – A list of January home and condo about handing off some of the duties, such as of business because it was run down and their strong accents despite years in Southern “He tells me what to do now,” she said. Cathay’s financial situation based on recent ANN YASUDA PAGE 14 sales by neighborhood...... 25 earnings. Veteran bankers who know L.A. business like Bill Paredes HOSPITALITY – Pub chain Lucky overseeing the bars’ beer inventory. poorly managed. California, opened the Sierra Madre location in “But he always has.” Senior Vice President GOVERNMENT: State may Columns & features – Real Estate “We would characterize it as stable,” he with 30 years experience in commercial lending including Baldwin’s continues to move forward even The Real Investors of Beverly Hills said. Manager Real Estate Loans Column 29 erase companies’unused credits. as its co-owner copes with a serious Starring on “The Real Housewives of Beverly Uruguay Shuffle Not every bank was so stable, though. real estate, business loans, lines of credit and equipment 213.362.5218 M A I L T O : By RICHARD CLOUGH Staff Reporter degenerative disease...... 5 Hills” has been good for Russell and Taylor PAGE 3 Ryan Citro, a valuation and business model Wilshire State Bank, for instance, lost $30 financing; and Ann Yasuda with over 25 years of commercial [email protected] By HOWARD FINE Staff Reporter INTERNET – Online auctioneer Bidz.com COMMENTARY Armstrong – and not just because they’ve specialist with the downtown L.A. office of million in the fourth quarter after padding its Local credit unions are beginning to return to com- become famous. Ernst & Young LLP, knew he would have some Investors Bid Up the Stock of Online Auctioneer loan loss reserves. and private banking experience. Our bankers take pride has investors calling out for more...... 5 CHARLES CRUMPLEY Not only does Gov. Jerry Brown want to elimi- mercial real estate lending, a business line that was all COMMENT – Charles Crumpley believes The Armstrongs – perhaps best known on the adventures when he set out on a trip to If you aren’t getting ahead, you are falling behind. Analysts had predicted a profitable quar- in providing highly personalized service with a host of nate enterprise zones, he wants to kill more than $900 but abandoned by many lenders during the recession. APPAREL – American Apparel is trying on a enterprise zone businesses are getting a raw reality TV show for their marriage woes – are Uruguay in October and November as part of a no longer rates it, also said investors could be attributed part of the loss to the recession. ter for Wilshire, only to be surprised when RINGO H.W. CHIU/LABJ new management structure as it looks to INTERNET: Culver City’s Bidz.com (Nasdaq: BIDZ) The Los Angeles Business Journal will keep you ahead of your competition – the Koreatown bank revealed higher loan innovative products, uncommon lending capacity and fast million in tax credits that have been banked by thou- Left Holding the Bag?: Crown Poly’s Browne. Lockheed Federal Credit Union, the second deal from Gov. Jerry Brown...... 38 now in business with BeautyTicket.com, a West the show and contacted her about working togeth- company fellowship program that sends finan- impressed that the company remained debt free “The majority of our sales are in jewelry 601 W. 5th Street, Suite 100 sands of companies in California – including hun- largest credit union in Los Angeles County, began Hollywood-based online retailer that sells higher- er. The couple then acquired a 30 percent equity cial experts to developing countries to help during the recession. Culver City FRI. CLOSE, PAST 5 WKS and watches,” he told the Business Journal. “In It is a publication filled with insight and information that you need to read, losses than anticipated. The bank did not revive slumping sales...... 6 GOVERNMENT – Beverly Hills Bidz.com sees share price 1.6 decision making. It’s the kind of banking relationship you’ve Los Angeles, CA 90071 dreds in Los Angeles County’s eight enterprise zones. “We specifically located in an enterprise zone so offering commercial real estate loans last week for the end beauty products at steep discounts. stake in the company last month through Russell startup companies. “Given the consumer recovery, Bidz may CEO: David Zinberg 1.5 this economy, they’re discretionary items that but more important,one that you will want to read. respond to requests for comment, but in a BANKING – Analysts are talking rebound as Councilman John Mirisch rips medical Among them is Crown Poly Inc., a maker of we could hire people and receive the tax credits,” first time since 2006. The move comes just months Russell Armstrong said BeautyTicket’s Armstrong’s Miracle Mile-area private investment Citro even added a personal vacation with his increase 15 percent. have a chance for its revenue and profitability Employees: 160 Feb. 2: $1.38 1.4 are lower on the list for consumers.” statement after the earnings announcement, always wanted. Genius? Perhaps. Or, simply being there at 213.362.5200 | TORREYPINESBANK.COM earnings of most local banks bounced even building landlords for wanting the city to pay 1.3 Joanne Kim, chief executive of holding com- plastic grocery bags. The company moved from said Crown Poly General Manager Cathy Browne. after Kinecta Federal Credit Union, the largest, founders, industry executives Lindsay Pedder and firm, Crescent Financial Partners Inc. brother Jeff, hiking in the Patagonia region of to eventually bounce back,” he said. Market Cap: $28.3 million The company also spent a lot of money to the right time. higher last quarter...... 7 1.2 Subscribe today. pany Wilshire Bancorp Inc., said the quar- Vernon to an enterprise zone in Huntington Park “We go out and hire people, and we should get the resumed real estate lending after a yearlong hiatus. Access to professionals with on-the-ground knowledge of local regulations, for their parking...... 39 Jill Sherman, learned about his wife because of “After studying the business model, we felt neighboring Argentina. Hike: From left, Ryan and Jeff Citro. By NATALIE JARVEY Staff Reporter Analysts at Zacks Investment Research in develop a new website last year, Modnique.com, P/E*: N/A 1.1 ter was merely a bump in the road toward four years ago; since then, the company has added credits that are owed us for hiring those people.” While many commercial banks remain hesitant to language and culture. Responsiveness, thoughtful recommendations, MANUFACTURING – A New York equity EDUCATION – It’s business that will like BeautyTicket.com filled a void in the cosmet- But nothing prepared the 30-year-old for an Chicago had already upgraded their rating for 1.0 which could account for the wider net loss, he said. As part of your subscription,you will also receive access to the daily EPS: -$0.05 12/31 1/7 1/14 1/21 1/28 consistent profitability. 110 workers and accumulated more than $900,000 Browne is worried that the company would have expand their loan portfolios due to regulatory pressures and partner accessibility. That’s the hallmark of Grant Thornton. firm thinks it has better fits for Pasadena pipe ultimately pay the price for poorly educated ics industry,” he said. unusual camping trip into the middle of the store for the weekend. Investors are taking a new shine to online company shares from “underperform” to “neu- In 2009, Bidz was hit by four lawsuits after electronic Los Angeles Business Journal, unlimited on-line access to our in tax credits. Now that its tax bill may zoom up, Armstrong is financing BeautyTicket’s future Uruguayan wilderness. The trip was arranged by When they woke the following morning, they jewelry auction company Bidz.com Inc. tral” in a note to clients and investors in January. *Twelve months trailing. Source: Yahoo Finance allegations of bid-rigging. One was settled and “Our fourth quarter results reflect our Contact Joel Anik, SoCal Managing Partner, at 213.596.3484 or maker’s board...... 8 workers, warn Gary Mangiofico and Bill archives, and the Book of Lists published at the end of the year. Crown Poly has put its hiring plans on hold. Please see GOVERNMENT page 35 Please see LENDING page 34 growth through his investment firm, and plans to workers at the tech company startup in Montev- faced reality. Bidz, which trades on the Nasdaq, was one U.S. Commerce Department figures show one was dismissed; two are outstanding. The aggressive actions to resolve lingering credit [email protected]. Visit us at GrantThornton.com. Columns & features – Media Watch 8, Allen...... 39 take the company public within 24 months. ideo that Citro was sent to help bootstrap. “All we had left was half a bag of potato of the LABJ Stock Index’s top gainers last consumer spending rose 4.4 percent in the goods in auctions that can continue for days or Securities and Exchange Commission is also issues related to commercial real estate News of the Week 10 Columns & features – LABJ Forum 38 Meanwhile, Taylor Armstrong, who is co- With Citro tagging along, the workers drove chips,” Citro said, “so we all had to go back that week, with a share price increase of 15 percent. fourth quarter, the biggest jump since 2006. weeks. Bids on Bidz start as low as $1 but investigating the company. Kuperman main- Call toll-free 1.800.404.5225 loans,” she said. “Following these actions, we have now disposed of the weakest credits in Los Angeles Business Journal (ISSN 0194-2603) is published weekly. © 2011, Los Angeles Business Journal. Offices are located at 5700 Wilshire founder and president of a business software con- for hours on dirt roads, crossing two rivers day.” The stock closed at $1.38 on Feb. 2, up from Should that trend continue, Bidz and other climb quickly. tains that Bidz is not at fault. Blvd., Suite 170, Los Angeles, CA 90036. Periodicals postage paid at Los Angeles, CA and additional offices (USPS #492-930). Subscription sulting firm, is serving as BeautyTicket’s chief cre- before deciding to put up their tents more than $1.20 the previous week. companies that count on discretionary purchas- The company reported a net loss of In the meantime, he said he doesn’t expect our loan portfolio and have positioned the 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 bank to move forward with more manageable copies, $3.00. Mailed copies, $5.00. Back issues, $8.00. Address and subscription inquiries to: Circulation Department, Los Angeles Business Jour- ative director – a role some might find surprising. 50 miles away from the nearest settlement. Staff reporters Alexa Hyland and Howard Fine A recovery in consumer spending could be es could be in for some gains. $614,000 for the third quarter last year, wider the recession or the company’s legal troubles TORREYPINESBANK.COM nal, 5700 Wilshire Blvd. Suite 170, Los Angeles, CA 90036. This newspaper is designed to inform decision-making executives, investors and man- “Taylor’s very business minded and many But soon the workers opened up some bot- contributed to this column Page 3 is compiled by behind the rise for the Culver City company, Bidz, founded in 1998, sells mostly high- than its net loss of $58,000 for the same quar- to affect its business this year. credit costs.” Real World Insight for Middle Market Companies 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 people don’t know it,” Russell Armstrong said. tles and began to party. Trouble was, in the Editor Charles Crumpley. He can be reached at said Frederick Moran, an Internet analyst with end jewelry and watches in online auctions that ter in 2009. “We’re pretty optimistic in 2011,” he said. Wade Francis, president of Long Beach any opinion which may be expressed here constitutes a solicitation for the purchase or sale of any securities. Opinions expressed in letters to the Benchmark Co. LLC in Boca Raton, Fla. typically last less than one hour. It’s different Leon Kuperman, president and chief tech- “We’ve been having conversations with institu- bank consulting firm Unicon Financial Ser- editor and commentaries are those of the authors and not necessarily those of Los Angeles Business Journal. Member Audit Bureau of Circulations. Russell and Taylor Armstrong “She’s a go-getter.” process, the workers consumed their entire food [email protected]. Torrey Pines Bank is an Affiliate of Western Alliance Bancorporation. www.gscpa.com 310.828.9798 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 LABJ has been adjudicated Nov. 1985 to be a newspaper of general circulation. POSTMASTER: Send address changes to Los Angeles Business Moran, who covered Bidz’s stock last year but from eBay, which lets people sell their own nology officer for the 160-person company, tional investors and they’re in it for the long haul.” vices Inc., said there could be a growing divide and consulting firms. Journal, PO Box 16825, North Hollywood, CA 91615.

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FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL 13 8 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS FEBRUARY 7, 2011 FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL 9 10 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS FEBRUARY 7, 2011 FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL 11

Last week’s major news from labusinessjournal.com 12 LOS ANGELES BUSINESS JOURNAL PROFILE FEBRUARY 7, 2011 14 LOS ANGELES BUSINESS JOURNAL PEOPLE FEBRUARY 7, 2011 MEDIAWATCH NEWS OF THE WEEK and other sources Figueroa at Wilshire Ernst & Young Plaza Bank of America Plaza Attorney General Kamala mission had earlier rejected panies and scout new Aviation executive Joe Czyzyk worked at United � MOVIE BOX OFFICE Harris has announced a $6.5 Gambol Industry Inc.’s prospects. Air Lines and Israel’s El Al before earning the pilot’s Weekend Gross Total Gross American Business Bank wishes to thank million settlement of a preda- plan to build a repair facility Rank Title (millions) (millions) Distributor tory lending case against for- at a port site, saying it would EARNINGS: Tetra Tech seat at cargo handler Mercury Air Group. mer Countrywide Financial delay deepening the main Inc. reported net income of Winging It 1 Rite $14.8 $14.8 New Line our customers, founders, shareholders and staff 2 No Strings Attached 13.4 39.5 Paramount Corp. Chief Executive Ange- channel so it could handle $22.3 million, 19 percent 3 Mechanic 11.4 11.4 CBS Films as we celebrate another milestone in lo Mozilo and former Presi- larger ships. In an unusual higher than a year earlier. By HOWARD FINE Staff Reporter Unless you’re from Eastern Europe, where the stewardesses, it was like nirvana for me. really had a passion for engineering like I did 4 Green Hornet 11.2 78.5 Columbia dent David Sambol. The move, the council questioned Revenue rose 13 percent to “y” functions as a vowel. But I never wanted to for aviation. When I graduated in 1971, it was 5 King's Speech 11.1 72.2 Weinstein Co. exceeding One Billion Dollars in assets money will help establish a the commission’s decision, $611 million. … Ameron INCE his childhood when he played change my name. In fact, I learned something Then you served in Vietnam. not the best time to be an engineer. There were 6 True Grit 7.5 148.3 Paramount statewide foreclosure crisis then allowed it to stand. International Corp. reported with balsa wood model airplanes, Joe interesting about that name: Before World War I was in the Navy Seabees and did two tours of layoffs at all the big defense companies and the 7 Dilemma 5.7 40.8 Universal relief fund. Mozilo and his per-share profit of $2.88, 89 Czyzyk has been interested in any- II, it was the name of the chief rabbi in Warsaw duty in Vietnam. I was injured twice: The first country was in a minirecession. I finally took a as we start our thirteenth year in business. Soon-Shiong thing related to aviation. These days, and also the archbishop of Warsaw. Quite an time I injured my hand at a shooting range here job at Crocker Citizen Bank. 8 Black Swan 5.1 90.7 Paramount team were accused of allow- NAMED: AEG has reached a NEW JOB: Greg Waldorf, percent higher than a year ear- S 9 Fighter 4.0 78.3 Paramount ing loose lending policies, naming-rights deal with the former chief executive of lier, but did not report net as chief executive of Playa Vista-based Mer- impressive family name if you ask me. in the States; my hand got caught in the trigger 10 Yogi Bear 3.2 92.5 Warner Bros. and not fully informing bor- Shiong has acquired Vitality Farmers Insurance for a pro- Pasadena online matchmaker income totals. Sales fell 9.6 cury Air Group, he heads the largest air cargo mechanism. The second injury was a shrapnel Then what happened? Weekend ended Jan. 30 Source: Bloomberg News rowers of the risks. Inc., a Cambridge, Mass., posed National Football eHarmony, has been named percent to less than $124 mil- handler at Los Angeles International Airport, You didn’t fly until you were living in Los wound I received while building an airstrip in My big break came in talking with one of the Underground: Ameron pipes being placed at a construction project. As an independent bank serving “middle-market” businesses, FOR SALE: Oil giant BP maker of pill bottles that use a League stadium in downtown CEO-in-residence of Accel lion. … Health Net Inc. and has air cargo and airplane fueling opera- Angeles. Vietnam. That was a really scary experience. bank’s customers, a regional manager for Unit- � PRIMETIME TV SHOWS plans to sell its Carson refin- MERGED: First General variety of electronic means to Los Angeles. The deal is Partners, a Silicon Valley reported fourth quarter net tions spanning the globe. In his travels, Czyzyk I was 19 when I took my first flight up to San The bullets were really flying – I can still hear ed Air Lines. He told me that United had an Rank Program Network Rating* we continue to embody the old-fashioned values ery, which supplies about 25 Bank has announced its remind patients to take their potentially worth $700 mil- venture firm. Waldorf income of $80.4 million, 78 (pronounced “Chizik”) has visited more than Francisco from L.A. It was on PSA, one of them. They sounded like bumblebees. opening in its marketing department. Well that 1 American Idol (Wed.) Fox 13.8 percent of L.A.’s gasoline merger with American Pre- medicine. The company’s lion over 30 years. The down- percent higher than a year ear- 100 countries on six continents. At home, he’s those airlines that went out of business a long decision took all of five seconds: I went for the Investment Firm Digs In become increasingly involved in civic affairs. time ago. In those days, you could walk right You didn’t start your career in the airline job and got it. 2 American Idol (Thurs.) Fox 12.4 of customer service and individual attention. demand, by the end of 2012. mier Bank is complete. The GlowCap bottle lights up, town project, which faces Waldorf lier. Revenue fell 11 percent 3 Hallmark Hall of Fame CBS 9.3 The divestment is part of a combined bank retains the plays a melody and can even competition from a rival City to $3.37 billion … Avery He served on the Los Angeles Taxicab Com- up to the counter, pay the air fare and walk on industry. Why not? 4 NCIS CBS 8.3 larger plan to cut by half BP’s name of First General Bank, use wireless communications of Industry plan backed by Dennison Corp. reported mission for 10 years and, this week, he formal- to the plane – no security. And with the pretty I graduated with an engineering degree. I never Please see page 16 5 Criminal Minds CBS 7.8 Over Pipe Maker’s Board U.S. refining capacity, which and has five branches in the to ring patients. It also sends billionaire developer Ed Roski fourth quarter net income of ly will take over as chairman of the Los Ange- les Area Chamber of Commerce. Born in a Week ended Jan. 30 *Each rating point equals 1.1 million homes. thank you for sharing in our dream. also includes selling off some San Gabriel Valley and weekly reports to doctors. Jr. of Majestic Realty, still $114 million, 128 percent Source: Bloomberg News questioned Mr. Marlen’s management skills Texas facilities. BP acquired Orange County. First General needs government approvals. higher than a year earlier. small village outside Warsaw, Czyzyk, 63, first MANUFACTURING: and his reliance on asset sales to help the com- the Carson refinery through is based in Rowland Heights INVESTMENT: A consor- Mayor Antonio Villaraigosa Sales rose 8 percent to $1.64 arrived in Los Angeles with his family nearly � CABLE TV SHOWS Barington looks to unseat pany make its numbers.” the oil giant’s 2000 takeover and American Premier was tium of investors organized by named a blue-ribbon commis- billion. … Mattel Inc. report- 50 years ago. He got his start in the aviation Rank Program Network Rating* Barington’s case also got a boost from of Arco. It has 1,200 employ- based in Arcadia. The com- Colony Capital LLC has sion to review the AEG plan ed fourth quarter net income Free business checking that also industry at United Air Lines, then moved on to 1 Jersey Shore MTV 5.4 Ameron’s CEO-chairman. Brent Thielman, the only analyst to cover ees, 500 contractors and the munity bank now has $320 acquired two more portfolios that will be co-chaired by of $325 million, 1 percent build up Israeli airline El Al’s presence in Los 2 Pawn Stars History 4.3 Ameron. In a report published by Portland, capacity to produce about million in assets. of distressed real estate loans First Deputy Mayor Austin lower than a year earlier. Rev- Angeles and New York. He joined Mercury Air 3 Pawn Stars History 4.1 By JOEL RUSSELL Staff Reporter Ore.’s D.A. Davidson & Co. on Jan. 31, Thiel- 265,000 barrels per day. from the Federal Deposit Beutner and Sony Pictures enue rose 9 percent to $2.12 Marina Towers Landmark Square helps my business run smoothly. in 1984 and became chief executive in 1999. 4 SpongeBob SquarePants Nick 3.8 man concluded the stock should trade at $109 ACQUISITION: L.A. biotech Insurance Corp. for about Entertainment Chief Execu- billion. … THQ Inc. reported Czyzyk sat down at his office in Playa Vista 5 American Pickers History 3.7 A fight over control of Pasadena pipe man- per share, backing up Barington’s position that SETTLEMENT: California billionaire Dr. Patrick Soon- $193 million. The portfolios tive Michael Lynton. stepped down Jan. 19 from a net loss of $14.9 million, with the Business Journal to discuss his love of Week ended Jan. 30 *Each rating point equals 1.1 million homes. ufacturer Ameron International Inc. escalat- it should be more than $100. had a total unpaid principal Santa Monica-based eHar- compared with net income of Talk about multitasking. aviation, his civic involvement and his favorite Source: Bloomberg News ed last week when an investment fund set the “Ameron trades at a nearly 50 percent dis- balance of $817 million and UPHELD: The Los Angeles mony, which is rumored to $542,000 a year earlier. Rev- pastime of fly-fishing. � TOP SELLING ALBUMS stage for a proxy challenge for two board seats. count to the implied value for the shares,” labusinessjournal.com were acquired at 24 percent of City Council decided not to be preparing an initial public enue fell 12 percent to less If successful, the challenge will take Thielman wrote. “Given the still meaningful The best source for up to the minute local, national and that number. Like other deals overturn the Harbor Com- offering. He was a founding than $315 million. … Inter- Question: How did you first get interested Rank Last Week Artist Title Label Ameron’s current chairman-chief executive off discount, we are maintaining our ‘buy’ rating.” worldwide business news. Colony has struck with regu- missioners’ denial of a Long investor in of the site 11 national Rectifier Corp. in airplanes and air travel? 1 New Decemberists King Is Dead Capitol the board and give New York-based Baring- Michael Levin, founder of the Activist FREE MORNING UPDATE lators, the FDIC retains a 50 Beach company’s bid to years ago and served the last reported net income of $43.9 Answer: I have always been fascinated by air- 2 New Various Artists Kidz Bop 19 Razor & Tie ton Capital Group a voice in the boardroom. Investor, a shareholder consulting firm in percent equity interest in the build a shipyard at the Port five years as chief executive. million, 55 percent higher planes. When I was a child, I used to have 3 New Script Science & Faith 101 Distribution Ameron makes concrete, fiberglass and steel Chicago, said that both Barington and the Prepared by the editors of the Los Angeles Business Journal assets and Colony will be in of Los Angeles, but urged At Palo Alto-based Accel, than a year earlier. Revenue RINGO H.W. CHIU/LABJ balsa wood airplanes and I loved getting them 4 New Social Distortion Hard Times and Epitaph and sent to you by e-mail every business day. Sign up now at Directors on the Set: Husband and wife co-owners Susan and Jim Morris at the downtown Los Angeles office of traffic control services company JCL Barricade. as gifts. I just loved planes. To this day, I mar- pipes for construction and manufacturing. It also Ameron board will send to shareholders sepa- www.labusinessjournal.com charge of disposing of the commissioners to find a site Waldorf will work with the rose 34 percent to nearly $282 Nursery Rhymes makes poles for street lights. The company has rate proxy mailers arguing for their respective assets. for the shipyard. The com- firm’s current portfolio com- million. vel at how a plane can lift 1.5 million pounds 5 New Gregg Allman Low Country Blues Rounder 2,400 employees, and operations in Houston, Hon- candidates. Ameron’s board will pay for these off the ground, how a machine can take people Week ended Feb. 4 Source: Billboard.com olulu, Rancho Cucamonga, Brea and Ventura. materials from company revenue; Barington The Hollywood writers strike drove JCL beyond from one continent and deposit them a few Last week, Barington notified Ameron that will pay out of pocket. hours later on another continent. � MOVIE RENTALS - DVD/VHS Advertising Feature traffic control services for movie shoots to working the investment firm will nominate two direc- Rank Last Week Title Distributor tors for Ameron’s board. Results of the elec- Brookfield Office Properties would like to thank the following for special events and construction projects. Your parents were Jews in Eastern 1 1 Social Network Sony Lane Change Europe during World War II. How did they tion will be announced at the annual sharehold- Timeline 2 New Takers Sony er meeting March 30. Hirings, promotions and special survive? Key dates in Barington’s campaign against 3 2 Dinner for Schmucks DreamWorks One of the contested board seats is held by People on the Move accomplishments in local business Los Angeles brokers for making 2010 a success. By JOEL RUSSELL Staff Reporter was juggling $90,000 in plastic debt to fuel on traffic flow. My parents escaped Poland just as World War 4 New Buried Lions Gate James Marlen, chairman and chief executive. If Ameron’s management: the company’s growth. JCL Barricade Co. Ernest Doud, president of business consul- II began. My father saw what was coming. 5 6 Town Warner Bros. They spent the war years on the run through the he loses, Marlen would be removed from the JAN. 5: Barington letter criticizes Ameron’s ILM shoots are a familiar sight in Los “It sounds horrible, but we knew the money YEAR FOUNDED: 1997 tancy Doud Hausner & Associates in Flo- Week ended Jan. 23 Source: Rentrak chairman’s position but could remain CEO at low stock price and seeks ouster of CEO Angeles. They’re recognizable by was coming and it did,” Jim Morris said. “This rence, Ore., said niche businesses are great as Soviet Union, just ahead of the German army. Belmont Partners Colliers International Cushman & Wakefield Madison Partners HEADQUARTERS: Downtown Los Angeles They went from Archangel, a city on the Arctic least until his contract expires in 2012. James Marlen. AVIATION FINANCE FINANCE rows of equipment trucks, trailers and wasn’t extravagant, it was $90,000 of revenue- long as that industry remains healthy. In the � DVD SALES Matthew Homer Nathan Pellow John M. Eichler Bob Safai & Dustin Ballard Ocean in the northwest Soviet Union, to Vladi- The battle roared to a start Jan. 5 when Bar- crowds of people. And sometimes producing equipment.” CORE BUSINESS: Traffic control services for case of film location work in Los Angeles, sta- JAN. 12: Ameron independent directors Korean Air has promoted John Jack- Wells Fargo Insurance Services is Union Bank, N.A., announced Wells Fargo Bank Insight Global, Inc. Cozen O’Connor The Private Bank of California F vostok on the Pacific Ocean. After the war, my Rank Last Week Title Distributor Suggested Retail ington sent a public letter to Ameron’s indepen- they require road closures. The niche is regulated by the California tistics point to a long-term decline as produc- Get one year of free checking when you open a refute Barington criticisms in a press release, movie productions and special events. 1 New Takers Sony $28.95 dent board members calling for Marlen’s ouster son to vice president of marketing for excited to welcome Katie King to the that Gerard W. Hollins, Jr. has Steve Marcussen That’s when production companies call Department of Transportation. When JCL tions move elsewhere to take advantage of ® parents returned to Poland and settled in a little 2 1 Social Network Sony 28.96 as chairman-CEO. The letter complained about calling them inaccurate and vindictive. the Americas. Jackson was formerly agency. Katie is a Senior Vice Presi- been appointed to vice president BRAD Management CB Richard Ellis Littleton Joyce Ughetta Park & Kelly LLP R.L. Pratt & Associates Inc. JCL Barricade Co., which specializes in traf- launched, Caltrans simply required that traffic EMPLOYEES: 14 lower costs. FREE CitiBusiness checking account along with a cash village just outside Warsaw where I was born. Jerry Wise Kenji Sakai Robert Pratt 3 New Death Race 2 Universal 29.98 the company’s poor financial performance and JAN. 31: Ameron releases 2010 earnings director of marketing at the airline dent and Business Development Offi- of the Legal Specialty Group of fic control for the film industry. In 14 years, control workers wear hardhats. But within a “If I’m serving a niche that is declining, I CFHS Holdings, Inc. Mitsui O.S.K. Bulk Shipping Roger Gage & Steve Marcussen Norman C. Stirling M.D. GOALS: To expand into related markets such BUSINESS management service that helps you pay employees 4 5 Despicable Me Universal 29.98 said that Marlen’s compensation of $66 million report that misses analyst expectations. which is the largest Asian airline serv- cer in the San Gabriel Valley region, Union Bank’s Private Bank. The the company has grown from a husband-and- few years, the regulation changed to require a have to ask who else needs traffic control?” How did your family end up in Montreal? AT&T Corporation as signage and construction projects. CHECKING 5 2 Alpha and Omega Lions Gate 29.95 over 16 years was excessive. ing the Americas. Jackson is the first including Pasadena, West Covina and Legal Specialty Group provides Richard Rizika wife team working out of a backyard in West contractor’s license, which requires five years Doud said. or accept credit card payments from customers. My father tried to return to the fur business he FEB. 1: Barington sends Ameron notice that it Corporate Realty Associates Stone Miller THE NUMBERS: The company charges $2,400 Week ended Jan. 23 Source: Rentrak Also, Barington said Ameron stock should non-Korean to hold this executive Ontario. Katie will be working with the comprehensive financial solutions Target Corporation Tom Sheets Covina to a 14-person operation in a 12,000- of experience, raising a significant barrier to Morris said that filming still accounts for 75 had before the war, but he saw the writing on will nominate two candidates for board election. Gary Goodgame Jeff Lipson per day for traffic control when a major street It’s how Citibank helps you take care of business. be trading at more than $100 per share. The position at Korean Air in the Americas. Commercial Banking Group to identify to law firms and legal professionals. Rise Energy Beta, LLC square-foot warehouse near downtown Los entry for new competitors. percent of his revenue, with the rest coming the wall when the Russians arrived. Again, my � MOVIELINK DOWNLOADS First Capital Stephen Bay & Kevin Bender Thomas B. McCullough, Jr. is closed for filming. Annual revenue of more family got out just in time, before the borders stock closed Feb. 3 at $70.53. MARCH 30: Election results will be and develop new business genera- Hollins will oversee the practice in Angeles. Revenue has Mike Fantasia, an independent location from branching out into construction, special Jackson King Hollins Pillsbury Winthrop Carl Muhlstein & Hayley Blockley than $3 million. were closed in the late 1940s. We had relatives Rank Title Distributor Suggested Retail In a press release issued Jan. 12, Ameron’s announced at annual shareholder meeting. Jackson grew up in the airline industry tion and cross sales opportunities, the Los Angeles region. Jeremy Dee This Week: increased every year manager, said he’s been impressed with the events and signs. Apollo Enterprise Solutions Wells Fargo Bank Studley in Halifax, Nova Scotia, so that’s where we 1 Red Summit $19.95 independent board members rebuffed Baring- with his mother a flight attendant and his father a mar- focused on the Middle Market. She will also be responsi- John Zanetos & Chris Penrose except 2008 and now totals Morrises’ service on productions including The biggest project for JCL is the Orange 2 Social Network Sony 19.95 ton’s assertions, saying that the stock price had Ricoh Americas Corporation Mike Catalano NICHE more than $3 million. “Catch Me If You Can,” “Seabiscuit” and worked for a bankrupt traffic control company County Marathon, which features a 26.2-mile went. Eventually, we settled in Montreal. keter for Delta. He actively started his airline career as a ble for developing a Health Care Practice in the Southern Kimball Wasick & Robert Alperin Stop by a branch, call (877) 223-CITI 3 Salt Sony 19.95 increased fivefold during Marlen’s tenure. “Barington can challenge these incumbents, Duggan Realty Advisors, LLC Oxy Long Beach, Inc. Goodwin Procter LLP Chief Executive Jim “The Green Hornet.” in San Bernardino in construction. With his route through five cities that crosses hundreds campus sales representative with Continental sales in the California Region. Katie brings tremendous experience Richard Mori & Mark O’Brien 4 Takers Sony 19.95 “The criticisms of the company are inaccu- but the system is really slanted in favor of James Duggan & Scottie Breault Morris was once a security guard on film loca- “In this business we change our minds all skills, we have made significant headway into of streets. or visit us at citibank.com/businesschecking How long were you there? 1980s at the University of Georgia. and an outstanding reputation in the insurance brokerage Nipponkoa Management Corporation 5 Open Season 3 Sony 19.95 rate and reflect a fundamental lack of under- incumbents,” Levin noted. Ryan, Inc. Steve Walbridge & Eric Duncanson Transwestern tions, then worked as a location manager. Dur- the time,” Fantasia said. “On some of these that industry.” JCL uses all its equipment plus rentals. The Well into my high school years. But my par- community. Congratulations, Katie and welcome aboard! Week ended Feb. 2 Source: Cinemanow.com standing of Ameron’s history, businesses and But history gives some hope to Barington’s Matt Renshaw University of Southern California Jonathan Larsen & J.D. DeRosa ing that time, he discovered traffic control for shoots we’ve changed the plan 30 or 40 When the writers strike ended, Morris tally includes 2,500 orange cones, 1,200 no- ents never really felt at home in Canada; they markets,” the board members stated. long-shot strategy. Last year, the firm proposed Guardian Commercial Realty Taiwan Cooperative Bank Transwestern Property Company shooting was an underserved niche. In 1997, times and every time JCL complied, often moved into making custom signs pointing the parking signs, 650 street barricades, 50 detour wanted to come to the United States. So in Announce your hirings, Jones Lang LaSalle � OUTTAKE OF THE WEEK James McLaughlin, Ameron senior vice a shareholder resolution to split the chairman Craig Cahow Jonathan Larsen & Suzanne Lee he and his wife, Susan, decided to fill that need without charging.” way to a movie or TV shoot. Morris figures he signs, 42 water-filled traffic barriers and 20 1963, we drove from Montreal to Los Angeles. John Zanetos & Chris Penrose Jason Fine & Tony Morales I fell in love with Los Angeles. president and treasurer, told the Business Jour- and chief executive job titles rather than having FINANCE Mahan & Nash Standard Chartered Bank Bank of Taiwan and launched their company. JCL grew consistently for a decade, but now makes 80 percent of those signs around electronic message boards. ‘SHORE’ THING nal that the Jan. 12 letter summarizes the com- Marlen in both roles. The resolution gained promotions and other CIE Digital Labs, LLC Jim Morris recalled that at the time, there hit a crisis with the writers strike of 2007-08. Los Angeles, in addition to other signs for Although JCL has grown big by filling niche Gumbiner Savett Inc. Managing LAW MTV continues to pany position, and he declined further comment. approval from 56 percent of shareholders, yet Richard Ratner were only two other companies offering traffic Movie and TV filming in Los Angeles parking lots and small businesses. markets, Morris knows it’s not a fail-safe strate- What did your father do once the family Director Michael Savoy, CPA, has Grubb & Ellis Company Travers Realty score with reality TV Barington also declined to comment. How- fell short of the 80 percent threshold needed to Wahid E. Guirguis has become a Servcorp Los Angeles LLC Kenco Realty control: one that charged very high rates and ground to a halt. The company survived by gy. At one point in 2006, he decided to start an arrived in L.A.? been appointed to the California accomplishments. Sonya Schmidt Dennis Smith show “Jersey ever, a source familiar with the company’s make it binding on the board. Shareholder at the Pasadena law Sun Life Assurance Company Ken Dauer Churchill Pacific Asset Management one that charged low rates but provided mini- finding work with special events and TV TV and movies apparel manufacturing company in downtown My father’s first job here was as a taxi driver. Board of Accountancy (CBA). In his Versant Holdings, LLC Shore,” now in its thinking who spoke on condition of anonymity Even if Barington’s two nominees win the ® firm Hunt Ortmann Palffy Nieves mal service. He decided to enter the market as commercials. It avoided laying off workers On any given day, JCL crews are working Los Angeles. But it lost significant money that What’s your story? Citibank can help you write it. He tried a few other jobs for a while and then new role, Savoy will work toward Brendan Monaghan Howard Feuerstein he bought up some nursing homes. In five third season. The said Ameron’s fiscal 2010 earnings, released election, the fund won’t be able to dictate A MERICAN B USINESS B ANK Lubka Darling & Mah, Inc. Since join- CenterPoint Properties Trust a midprice alternative. by reducing hours. JCL workers normally put three or four projects. Last year, the company could he could have used to build up JCL. regulating the accounting profession University of Southern California years, he had established a very comfortable program features a Jan. 31, motivated the proxy battle. terms on Ameron’s seven-person board. But ing Hunt Ortmann, a firm specializ- “It’s a genuine niche industry in that there are in 60-hour weeks, but during the strike they worked on TV shows such as “House,” “The In retrospect, he attributes that failure to M e m b e r F D I C for the public interest. He will also lifestyle – that’s truly living the American group of Italian Ameron reported 2010 net income of $46.3 the message of shareholder unrest will grab the ing in construction law, Mr. Guirguis many traffic control companies but only three were only putting in 24 hours. The slowdown Office” and “CSI: New York.” Recent film ignorance about the niche he was entering. serve on the legislative committee dream. Americans in the million, or $5 per share, a 39 percent increase attention of management, said Levin. has represented owners, general Contact Rosz Murray at target the motion picture industry,” he said. prompted Jim Morris to look beyond his projects include “Social Network” and “Green “The most important thing is to explore Garden State and from the previous year. However, the company “Right now it sounds like there are seven Savoy of the CBA. As managing director of Contracting for traffic control requires movie business niche. Hornet.” niches without laying out a tremendous Free business checking for a year refers to waived monthly maintenance fees for 12 months; monthly transaction allowances apply. Offer limited to new to bank CitiBusiness Streamlined or CitiBusiness Flexible Checking accounts opened between 01/08/11 and www.americanbusinessbank.com contractors, public entities, sub- ® was the top cable sold a steel mill for $48.4 million last year. With- board members friendly to management,” he Gumbiner Savett, Savoy focuses his .com cones, signs, barricades and the trailers to “We had to look elsewhere for growth, so I A typical job might involve taking the right amount of capital,” Morris said. “Just choose 03/31/11 when the customer also performs the following activities within 60 days of account opening: deposit at least $500 into the new business checking account, AND do one of the following: complete enrollment in Citi Merchant Services, or CitiBusiness Once you were here in the United States, contractors, material suppliers, and 323.549.5225 Payroll Manager, or Remote Check Deposit, or make 5 bill payments using CitiBusiness Online. Limit one offer per customer. Monthly maintenance fee waiver will begin one billing cycle after completion of required activities. Offer can be modifi ed or withdrawn show for the week out that one-time gain, the company would have said. “If two members are not friendly and client services on providing audit and financial reporting Guirguis bring them to the shoot. To finance equip- decided on special events and mainstream lane of a major street for parking a movie’s the niches carefully where you really think it did you ever want to change your last engineers/architects in all aspects at any time without notice, is not transferable and cannot be combined with any other offer. Existing business checking customers are not eligible. Speak to a Citibank Business Specialist for more details. Citi Merchant Services is provided by First Data Merchant ended Jan. 30. had to report a loss from its ongoing operations. constantly challenge management, that is often for privately held entities, tax planning and compliance, [email protected] www.brookfieldofficeproperties.com ment purchases, Susan Morris signed the construction projects,” he said. “I had little equipment trucks, or closing a street and will work out. If you don’t know a particular Services. CitiBusiness Payroll Manager is provided directly by SurePayroll Inc., a third-party provider not affi liated with Citigroup Inc. Remote Check Deposit service requires purchase of remote check scanner. Restrictions apply. All accounts and services are name to something easier to pronounce of private and public works. subject to approval. Fees and conditions apply to certain products and services. Terms and conditions of accounts, products, programs and services are subject to change. and spell? RINGO H.W. CHIU/LABJ “That earnings release may have tipped the enough to win the kinds of concessions Bar- LOS ANGELES | ORANGE COUNTY | SAN FERNANDO VALLEY | SOUTH BAY | INLAND EMPIRE succession planning and exit strategies. couple up for every available credit card and experience in those fields, so we brought in diverting traffic. JCL’s fee for a street closure business, you should know it’s not going to © 2011 Citigroup Inc. Citibank, N.A. Member FDIC. CitiBusiness, Citi, Citibank and Citibank with Arc Design are registered service marks of Citigroup Inc. scale,” the source said. “Barington has publicly ington wants.” maxed them out. At one point, the couple David Campos, a professional who had ranges from $500 to $2,400 a day, depending work out.” Sure, my name is difficult for Americans. Higher Plane: Chief Executive Joe Czyzyk outside his office at air cargo hangler Air Mercury’s Playa Vista headquarters.

15 16 17 18 19 20 21

20 LOS ANGELES BUSINESS JOURNAL THE LIST FEBRUARY 7, 2011 FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL 15 16 LOS ANGELES BUSINESS JOURNAL PEOPLE FEBRUARY 7, 2011 FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL 17 18 LOS ANGELES BUSINESS JOURNAL FEBRUARY 7, 2011 FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL 19 FEBRUARY 7, 2011 INVESTMENTS & FINANCE LOS ANGELES BUSINESS JOURNAL 21 Continued from page 18 Continued from page 14 X NEXT WEEK X NEXT WEEK Internet | Phone | Cable TV | Ethernet ! .'!''
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22 23 24 25 26 27 28

22 LOS ANGELES BUSINESS JOURNAL INVESTMENTS & FINANCE FEBRUARY 7, 2011 FEBRUARY 7, 2011 INVESTMENTS & FINANCE LOS ANGELES BUSINESS JOURNAL 23 26 LOS ANGELES BUSINESS JOURNAL REAL ESTATE FEBRUARY 7, 2011 FEBRUARY 7, 2011 REAL ESTATE LOS ANGELES BUSINESS JOURNAL 27 28 LOS ANGELES BUSINESS JOURNAL REAL ESTATE FEBRUARY 7, 2011

S TOP GAINERS T TOP LOSERS THE LABJ STOCK INDEX TRACKING LOS ANGELES-AREA COMPANIES THE LABJ STOCK INDEX TRACKING LOS ANGELES-AREA COMPANIES 24 LOS ANGELES BUSINESS JOURNAL DATA BANK FEBRUARY 7, 2011 FEBRUARY 7, 2011 REAL ESTATE LOS ANGELES BUSINESS JOURNAL 25 January 2011 New and Existing Home Sales in L.A. County Condo Sales January 2011 New and Existing Home Sales in L.A. County Condo Sales January 2011 New and Existing Home Sales in L.A. County Condo Sales X MARKET DIARY X WEEKLY TOP GAINERS Feb. 2 1-Wk YTD 52-Wk P.E. Mkt. Cap Feb. 2 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) Median Price Median Price Median Price Median Price Median Price Median Price Investors shrugged off concerns about political instability in Egypt and seized on positive economic news to push stocks TOP TEN GAINERS BY PERCENTAGE (with closing prices at least $1) � Home Sales Percent (thousands) Percent Condo Sales Percent (thousands) Percent Home Sales Percent (thousands) Percent Condo Sales Percent (thousands) Percent Home Sales Percent (thousands) Percent Condo Sales Percent (thousands) Percent AEROSPACE/DEFENSE Imaging3 Inc. IMGG $0.16 0.3% 3.3% -69.0% NA $60.1 CONVENTIONS to new post-recession highs during the week ended Feb. 2. The Dow Jones industrial average gained 0.5 percent, closing Community ZIP Code 2011 2010 Change 2011 2010 Change 2011 2010 Change 2011 2010 Change Community ZIP Code 2011 2010 Change 2011 2010 Change 2011 2010 Change 2011 2010 Change Feb. 2 Jan. 26 Price 1-Wk 52-Wk YTD Aerovironment Inc. AVAV $29.27 3.4% 9.1% -2.8% 34.0 $638.8 InstaCare Corp. ISCR 0.07 -7.1% 30.0% -48.0% NA 6.5 � CALENDAR Tuesday, Feb. 15 Wednesday, Feb. 23 Community ZIP Code 2011 2010 Change 2011 2010 Change 2011 2010 Change 2011 2010 Change above 12,000 for the first time in more than two years. Local stocks outpaced the blue chips as the LABJ Index gained Company Close Close Change % Chg. % Chg. % Chg. AML Communications Inc. AMLJ 1.42 2.9% 6.0% 10.9% 10.9 15.3 IPC The Hospitalist Co Inc. IPCM 37.72 -1.6% -3.3% 9.5% 26.9 613.4 L.A. Home Prices and Sales Chill Out in January Optimizing Your Job Search Networking Breakfast Stem Diversity Career Expo L.A./Mid-City 90019 12 17 -29% $608 $465 31% 11 2 450% $435 $365 19% Palmdale 93591 8 10 -20% $54 $64 -16% 0 1 N/A N/A $65 N/A nearly 1 percent. A handful of banks benefited from strong earnings, including Beach Business Bank, which announced Ducommun Inc. DCO 22.06 -2.0% 1.3% 24.1% 12.8 231.6 Molina Healthcare Inc. (H) MOH 30.87 -1.4% 10.8% 36.7% 24.7 933.5 • Calabasas 91302 15 14 7% $1,080 $1,007 7% 2 3 -33% $293 $845 -65% NCAL Bancorp...... $10.10 $8.60 $1.50 17.4% -17.6% 1.0% Tuesday, Feb. 8 Sponsor: Challenger Networking Group Sponsor: Greater San Fernando Valley Chamber of Feb. 24 a record annual profit. Shares of the Manhattan Beach institution rose 15 percent to a 52-week high of $5.94. Likewise, a Flamemaster Corp. FAME 5.00 0.0% 2.0% 19.0% 10.7 6.3 RadNet Inc. RDNT 3.71 10.1% 31.6% 48.4% NA 137.2 Commerce Canoga Park 91303 6 7 -14% 312 300 4% 3 7 -57% 280 215 30% L.A./Mid-Wilshire 90036 2 4 -50% 1,038 808 28% 4 6 -33% 668 491 36% Palos Verdes Estates 90274 16 10 60% 1,272 1,968 -35% 0 1 N/A N/A 895 N/A Beach Business Bank ...... 5.94 5.15 0.79 15.3% 44.9% 18.8% Selling Is a Science Noon (631) 421-9421, ext.10 surprise profit by Hanmi Financial Corp. – its first in two years – pushed shares of the Koreatown bank holding company Northrop Grumman Corp. NOC 69.88 1.6% 7.9% 20.1% 11.3 20,404.2 VCA Antech Inc. WOOF 22.59 -3.1% -3.0% -12.6% 16.6 1,946.7 7:15 a.m. HOUSING: Average of Canoga Park 91304 16 21 -24% 451 420 7% 9 17 -47% 120 130 -8% L.A./Mt. Washington 90065 26 21 24% 454 380 19% 1 4 -75% 293 285 3% Panorama City 91402 11 26 -58% 295 280 5% 19 17 12% $150 160 -6% Bidz.com Inc...... 1.38 1.20 0.18 15.0% -30.3% 13.8% Teledyne Technologies Inc. (H) TDY 48.27 1.4% 9.8% 28.4% 15.6 1,752.2 INSURANCE Sponsor: VEDC Zen Buffet Market Highlights up 11 percent to $1.30. Shareholders were unenthusiastic about a $12 million private placement by Cereplast Inc., an El Braemar County Club L.A./Palms 90034 9 9 0% 645 550 17% 4 8 -50% 481 308 56% Paramount 90723 6 11 -45% 238 255 -7% 7 12 -42% 200 128 56% Mission Valley Bancorp...... 4.25 3.80 0.45 11.8% -16.2% 13.3% APPAREL Mercury General Corp. MCY 42.66 -1.9% -0.8% 10.8% 14.6 2,337.8 4 p.m. 21610 Victory Blvd., Woodland Hills Festival of Brides $330,000 is lowest mark Canyon Country 91351 12 12 0% 250 328 -24% 8 10 -20% 326 314 4% Segundo maker of bio-plastics. Shares fell nearly 18 percent to $4.53. American Apparel Inc. took a hit amid ongoing Stamps.com Inc...... 12.76 11.44 1.32 11.5% 63.2% -3.7% $11 lunch 4001 Reseda Blvd., Tarzana • T American Apparel Inc. APP 1.05 -8.7% -36.7% -63.5% NA 75.0 Paula Financial PFCO 0.06 50.0% 0.0% 28.6% 0.3 0.4 5121 Van Nuys Blvd., Van Nuys March 12-13 Canyon Country 91387 14 25 -44% 432 415 4% 13 20 -35% 195 224 -13% L.A./Rancho Park 90064 11 9 22% 1,349 822 64% 5 4 25% 505 454 11% Pasadena 91101 2 0 N/A 558 N/A N/A 5 0 N/A 395 N/A N/A financial concerns. Shares of the downtown L.A. clothing company declined nearly 9 percent to $1.05. Hanmi Financial Corp...... 1.30 1.17 0.13 11.1% -9.6% 13.0% T Cherokee Inc. CHKE 16.45 -11.1% -12.5% 1.9% 13.5 146.3 $10 (818) 992-4270 $25 Unico American Corp. (H) UNAM 9.75 3.2% 6.7% 3.9% 24.4 51.8 since last February. MOST EXPENSIVE HOMES Carson 90745 23 17 35% 285 300 -5% 8 8 0% 234 231 1% L.A./Silver Lake 90039 11 11 0% 675 570 18% 2 2 0% 460 403 14% Pasadena 91103 6 11 -45% 392 310 26% 1 2 -50% 229 490 -53% THQ Inc...... 6.41 5.78 0.63 10.9% 24.2% 5.8% Guess? Inc. GES 42.99 0.0% -9.2% 6.2% 14.3 3,955.5 Wesco Financial Corp. WSC 379.42 -0.9% 3.0% 6.6% 38.5 2,701.4 (818) 907-9922 (818) 989-3836 (310) 577-7788 1/11 1/11 1/10 X MARKET INDEXES Voyager Oil & Gas Inc...... 5.32 4.80 0.52 10.8% 406.7% -1.5% Horiyoshi Worldwide Inc. HHWW 0.90 -51.3% -47.1% NA NA 54.0 Carson 90746 12 9 33% 322 315 2% 0 4 N/A N/A 272 N/A L.A./South Figueroa 90007 3 2 50% 403 498 -19% 2 2 0% 428 196 118% Pasadena 91104 22 16 38% 557 507 10% 2 3 -33% 300 339 -12% INTERNET Wednesday, Feb. 16 ZIP Home Median Median Crown Media Holdings Inc...... 2.49 2.25 0.24 10.7% 72.9% -5.0% Hot Topic Inc. HOTT 5.49 -2.4% -12.7% 10.6% 49.9 244.7 S Mark Emmert, NCAA president Feb. 2 Jan. 26 Point 1-Wk 52-Wk YTD Bidz.com Inc. BIDZ 1.38 15.0% 13.8% -30.3% NA 27.0 Foreclosure Workshop • Telemundo Health Expo Los Angeles County housing prices declined Community Code Sales Price Price Change Castaic 91384 9 10 -10% 275 350 -21% 3 0 N/A 299 N/A N/A L.A./South L.A. 90001 19 13 46% 189 185 2% 4 2 100% 192 240 -20% Pasadena 91105 4 7 -43% 1,473 814 81% 5 5 0% 615 305 102% CB Richard Ellis Group Inc...... 24.04 21.80 2.24 10.3% 78.2% 17.4% Ironclad Performance Wear Corp. ICPW 0.10 11.1% 0.0% -16.7% NA 7.3 J2 Global Communications Inc. JCOM 28.38 -0.4% -2.0% 36.1% 17.1 1,294.3 Breakfast Mixer Sponsor: Town Hall Los Angeles Index Close Close Change % Chg. % Chg. % Chg. Sponsor: California Foreclosure Institute March 13 4 percent in January, and they don’t look like Beverly Hills 90210 7 $2,180 $1,710 27% Cerritos 90703 13 24 -46% 542 545 -1% 6 3 100% 184 180 2% L.A./South L.A. 90003 24 22 9% 231 170 36% 5 2 150% 215 235 -9% Pasadena 91106 3 7 -57% 745 504 48% 10 14 -29% 426 392 9% Joe's Jeans Inc. JOEZ 1.57 -2.5% 1.0% -7.6% 17.4 100.1 MMRGlobal Inc. MMRF 0.07 -7.9% -23.1% -12.5% NA 16.0 Sponsor: Long Beach Area Chamber of Commerce 11:30 a.m. 5:30 p.m. (213) 926-1483 they are going to improve any time soon. Santa Monica 90402 5 1,902 2,118 -10% L.A./South L.A. 90044 31 31 0% 200 220 -9% 5 7 -29% 230 190 21% X WEEKLY TOP LOSERS T K-Swiss Inc. KSWS 11.55 -9.4% -7.4% 26.6% NA 407.3 ReachLocal Inc. RLOC 22.73 -3.2% 14.2% NA NA 634.3 7:15 a.m. Millennium Biltmore Hotel Chatsworth 91311 19 23 -17% 405 500 -19% 12 18 -33% 335 261 28% Pasadena 91107 19 11 73% 615 610 1% 5 4 25% 385 506 -24% Dow Jones Industrial ...... 12,041.97 11,985.44 56.53 0.5% 16.9% 4.0% San Gabriel Library The median price of new and existing Pasadena 91105 4 1,473 814 81% People's Liberation Inc. PPLB 0.08 7.1% -31.8% -64.3% NA 2.7 Spark Networks Inc. LOV 3.10 0.7% 4.4% 5.1% 13.5 63.8 500 S. Del Mar Ave., San Gabriel Holiday Inn 506 S. Grand Ave., downtown Los Angeles City of Commerce 90040 3 4 -25% 210 231 -9% 0 0 N/A N/A N/A N/A L.A./South L.A. 90061 9 7 29% 218 215 1% 1 2 -50% 205 215 -5% Phillips Ranch 91766 24 35 -31% 206 210 -2% 10 9 11% 205 188 9% TOP TEN LOSERS BY PERCENTAGE (with opening prices at least $1) Pacific Palisades 90272 9 1,439 1,500 -4% NASDAQ ...... 2,749.56 2,739.50 10.06 0.4% 25.5% 3.6% Skechers U.S.A. Inc. SKX 21.34 1.5% 6.7% -28.3% 6.5 1,018.1 S Stamps.com Inc. STMP 12.76 11.5% -3.7% 63.2% 20.3 183.1 Free 2640 N. Lakewood Blvd., Long Beach Free • Southern California Boat Show homes fell to $330,000, the lowest it has L.A./South L.A. 90248 1 4 -75% 520 405 28% 0 0 N/A N/A N/A N/A Talon International Inc. TALN 0.13 30.0% 23.8% 44.4% NA 2.6 San Marino 91108 6 1,422 1,420 0% Claremont 91711 11 15 -27% 408 508 -20% 4 3 33% 360 418 -14% Pico Rivera 90660 29 25 16% 278 300 -7% 1 1 0% 280 139 101% S&P 500 ...... 1,304.03 1,296.63 7.40 0.6% 18.2% 3.7% Feb. 2 Jan. 26 Price 1-Wk 52-Wk YTD United Online Inc. UNTD 7.23 -0.1% 9.5% 11.2% 10.5 621.6 (310) 379-0101 $30 (RSVP required) (213) 628-8141 March 17-20 been since last February, before federal home True Religion Apparel Inc. TRLG 20.05 -3.9% -9.9% 2.3% 11.0 510.4 L.A./Rancho Park 90064 11 1,349 822 64% Compton 90220 24 24 0% 198 185 7% 10 1 900% 258 80 223% L.A./South Robertson 90035 5 7 -29% 750 875 -14% 8 5 60% 480 725 -34% Playa del Rey 90293 4 0 N/A 1,300 N/A N/A 6 0 N/A 406 N/A N/A LABJ Index ...... 139.76 138.47 1.29 0.9% 18.2% 3.0% Company Close Close Change % Chg. % Chg. % Chg. ValueClick Inc. VCLK 14.09 -0.8% -12.1% 46.9% 15.2 1,137.7 (562) 590-9234 (714) 633-7581 tax credits temporarily goosed the market in AUTOMOTIVE/PLASTICS/METALS MANUFACTURING Business After Hours Mixer Manhattan Beach 90266 17 1,345 1,154 17% Compton 90221 16 28 -43% 200 175 14% 5 4 25% 200 215 -7% L.A./Watts 90002 18 30 -40% 152 138 10% 4 2 100% 160 154 4% Pomona 91767 22 30 -27% 214 210 2% 2 7 -71% 199 190 5% Motorcar Parts of America Inc. MPAA 14.61 -1.1% 12.0% 150.2% 15.9 176.1 Wednesday, Feb. 9 the spring, according to HomeData of X CrowdGather Inc...... $1.27 $1.86 -$0.59 -31.7% -17.5% -19.1% American Metal & Technology Inc. AMGY 0.60 66.7% 66.7% 33.3% 18.2 7.2 Sponsor: Alhambra Chamber of Commerce L.A./Westwood 90024 8 1,338 1,797 -26% L.A./West Adams 90018 13 15 -13% 257 250 3% 5 3 67% 290 308 -6% INDUSTRY ANALYSIS Reliance Steel & Aluminum Co RS 54.66 1.6% 7.0% 26.8% 16.4 4,078.0 After-Hours Business Mixer Los Angeles Home & Garden Show Hicksville, N.Y. Compton 90222 9 16 -44% 197 182 8% 0 2 N/A N/A 150 N/A Pomona 91768 21 23 -9% 200 195 3% 0 1 N/A N/A 127 N/A Sport Chalet Inc...... 2.37 3.08 -0.71 -23.1% 14.5% -36.6% Avery Dennison Corp. AVY 41.11 -2.9% -2.9% 22.6% 12.9 4,498.1 How to Defend Against Federal Investigation 5:30 p.m. • Playa del Rey 90293 4 1,300 N/A N/A Superior Industries International Inc. SUP 20.04 -2.8% -5.6% 34.7% 18.9 535.6 BioSolar Inc. BSRC 0.12 -1.7% 22.9% -18.6% NA 18.1 Sponsor: Glendale Chamber of Commerce Covina 91722 20 13 54% 296 320 -8% 2 4 -50% 318 275 16% L.A./West Hollywood 90038 2 2 0% 488 462 6% 1 2 -50% 430 441 -2% Rancho Palos Verdes 90275 18 20 -10% 990 872 14% 5 5 0% 305 600 -49% Feb. 2 Jan. 26 Point 1-Wk 52-Wk YTD Cereplast Inc...... 4.53 5.51 -0.98 -17.8% -11.4% 9.4% Sponsor: Beverly Hills Bar Association Wells Fargo March 18-20 It’s also the average price of summer 2009, Palos Verdes Est. 90274 16 1,272 1,968 -35% US Auto Parts Network Inc. PRTS 8.80 -7.1% 4.8% 48.9% 51.8 267.6 T Cereplast Inc. CERP 4.53 -17.8% 9.4% -11.4% NA 58.9 5:30 p.m. L.A./West Hollywood 90046 15 7 114% 770 860 -10% 13 7 86% 425 400 6% Index Close Close Change % Chg. % Chg. % Chg. Preferred Bank ...... 1.52 1.84 -0.32 -17.4% 11.8% -13.6% Noon 1910 W. Main St., Alhambra (800) 999-5400 a few months into what then appeared be the Covina 91723 4 6 -33% 378 316 20% 1 2 -50% 350 328 7% Redondo Beach 90277 7 9 -22% 1,150 845 36% 11 13 -15% 595 690 -14% Reed's Inc...... 2.60 2.98 -0.38 -12.8% 78.1% 29.4% BIOMEDICAL/PHARMACEUTICAL Dole Food Co Inc. DOLE 14.22 0.2% 5.3% 25.3% 52.7 1,254.6 Lawry’s the Prime Rib Jax Bar & Grill MOST EXPENSIVE CONDOS Amgen Inc. AMGN 55.63 -1.5% 1.3% -6.1% 11.6 52,560.1 $15 start of a recovery, which later petered out. Covina 91724 14 7 100% 382 430 -11% 2 4 -50% 226 205 10% L.A./West Hollywood 90048 5 7 -29% 1,109 926 20% 2 3 -33% 580 330 76% Redondo Beach 90278 10 17 -41% 658 667 -1% 12 18 -33% 596 579 3% AEROSPACE/DEFENSE ...... 223.36 219.93 3.42 1.6% 12.3% 8.0% CyberDefender Corp...... 2.11 2.41 -0.30 -12.4% -50.8% -31.0% Ever-Glory International Group Inc. EVK 2.28 -4.6% 8.1% -45.2% 8.4 33.6 100 N. La Cienega Blvd., Beverly Hills 339 N. Brand Blvd., Glendale 1/11 1/11 1/10 Arrowhead Research Corp. ARWR 0.94 7.9% 5.0% 56.7% NA 67.5 (626) 282-8481 Travel and Adventure Show Further evidence of a weak market: The num- L.A./West Hollywood 90069 5 9 -44% 785 1,295 -39% 17 13 31% 400 440 -9% APPAREL ...... 113.01 115.39 -2.39 -2.1% -2.8% -8.1% Cherokee Inc...... 16.45 18.50 -2.05 -11.1% 1.9% -12.5% Farmer Bros Co (L) FARM 12.58 -7.3% -29.3% -28.3% NA 203.3 $125 $15 • ZIP Condo Median Median Culver City 90230 5 4 25% 580 482 20% 10 8 25% 280 344 -19% Reseda 91335 34 36 -6% 310 336 -8% 11 8 38% 240 208 15% Broadway Financial Corp...... 2.16 2.41 -0.25 -10.4% -66.8% -11.1% CytRx Corp. CYTR 0.81 -0.5% -20.2% -32.3% NA 88.0 Jakks Pacific Inc. JAKK 17.42 -0.7% -4.4% 55.8% 11.9 481.1 (310) 601-2422 March 19-20 ber of homes sold fell to 3,344 units in Janu- Community Code Sales Price Price Change Culver City 90232 2 5 -60% 754 743 1% 0 2 N/A N/A 548 N/A L.A./West L.A. 90025 2 5 -60% 770 860 -10% 12 10 20% 530 625 -15% Rosemead 91770 16 15 7% 362 391 -7% 2 5 -60% 440 360 22% AUTOMOTIVE/PLASTICS/METALS ...... 320.18 318.46 1.72 0.5% 35.2% 5.5% Iris International Inc. IRIS 10.23 6.5% 0.0% -1.1% 33.7 185.6 (818) 240-7870 Networking Mixer K-Swiss Inc...... 11.55 12.75 -1.20 -9.4% 26.6% -7.4% Mattel Inc. MAT 24.37 1.5% -4.2% 17.1% 13.4 8,744.7 (213) 237-5876 ary, 10 percent off a year earlier. Pacific Palisades 90272 3 $1,230 $690 78% L.A./Westchester 90045 13 17 -24% 572 725 -21% 3 1 200% 320 370 -14% BIOMEDICAL/PHARMACEUTICAL...... 80.59 81.80 -1.21 -1.5% -8.1% 0.5% MannKind Corp. (L) MNKD 5.15 -2.0% -36.1% -46.4% NA 642.6 Sponsor: West Hollywood Chamber of Commerce Diamond Bar 91765 19 27 -30% 539 530 2% 15 18 -17% 226 282 -20% Rowland Heights 91748 15 19 -21% 390 388 1% 0 5 N/A N/A 390 N/A American Apparel Inc...... 1.05 1.15 -0.10 -8.7% -63.5% -36.7% OSI Systems Inc. (H) OSIS 38.39 1.4% 5.6% 43.6% 25.3 726.8 Business and Social Hour Gary Painter, director of research at the Venice 90291 4 1,078 875 23% Obagi Medical Products Inc. OMPI 10.56 -1.4% -8.6% -3.6% 16.5 232.7 6 p.m. Downey 90240 15 18 -17% 380 448 -15% 4 3 33% 245 280 -13% L.A./Westwood 90024 8 2 300% 1,338 1,797 -26% 12 14 -14% 485 592 -18% COMPUTERS/PERIPHERALS/ELECTRONICS . . .23.06 22.14 0.93 4.2% 61.6% 5.3% Overhill Farms Inc. OFI 6.06 -0.5% 5.2% 40.9% 12.6 95.9 Sponsor: Greater San Fernando Valley Chamber of Thursday, Feb. 17 Manhattan Beach 90266 8 850 975 -13% San Dimas 91773 14 19 -26% 430 410 5% 1 1 0% 339 225 51% Physicians Formula Holdings Inc. FACE 3.62 -2.2% -3.7% 59.5% NA 49.2 T • Adultcon USC Lusk Center for Real Estate, said that CONSTRUCTION/ENGINEERING ...... 288.01 293.12 -5.11 -1.7% 18.3% 6.7% X MARKET SUMMARY Reed's Inc. REED 2.60 -12.8% 29.4% 78.1% NA 27.0 Commerce Networking at Noon Capital Grille Beverly Hills 90212 4 790 816 -3% Downey 90241 14 21 -33% 422 375 13% 1 6 -83% 287 190 51% L.A./Willowbrook 90059 23 24 -4% 150 140 7% 3 0 N/A 230 N/A N/A San Fernando 91340 14 11 27% 222 260 -15% 3 2 50% 190 128 48% Oxis International Inc. OXIS 0.15 26.1% 0.0% -27.9% NA 21.0 Virco Manufacturing VIRC 3.13 6.1% 18.6% -10.3% NA 44.5 8614 W. Beverly Blvd., West Hollywood March 25-27 home sellers shouldn’t expect any good news ENERGY/UTILITIES...... 447.17 441.61 5.56 1.3% 18.7% 0.2% 4:30 p.m. Sponsor: Santa Fe Springs Chamber of Commerce Santa Monica 90403 15 675 849 -20% Downey 90242 13 16 -19% 329 335 -2% 2 2 0% 268 325 -18% L.A./Windsor Hills 90043 30 21 43% 310 264 17% 2 0 N/A 130 N/A N/A Response Genetics Inc. RGDX 2.35 -1.7% -5.2% 75.4% NA 43.0 MEDIA/LEISURE/ENTERTAINMENT Free (310) 859-6900 in the first quarter. San Gabriel 91775 7 9 -22% 607 450 35% 3 0 N/A 523 N/A N/A MOST ACTIVE STOCKS WEEKLY SUMMARY Braemar County Club L.A./Mid-Wilshire 90036 4 668 491 36% FINANCIAL SERVICES...... 166.95 167.49 -0.54 -0.3% 36.2% 3.4% Staar Surgical Co STAA 5.34 -5.3% -12.5% 40.8% 106.8 187.0 AMHN Inc. AMHN 0.03 25.0% -19.4% -98.4% NA 0.4 11:30 a.m. Duarte - Bradbury 91010 16 20 -20% 291 295 -1% 3 3 0% 212 228 -7% L.A./Windsor Square 90020 1 1 0% 2,850 800 256% 12 6 100% 238 284 -16% San Gabriel 91776 7 17 -59% 578 462 25% 1 1 0% 310 395 -22% 4001 Reseda Blvd., Tarzana (323) 650-2688 “I would expect to see declines in the next HEALTH CARE...... 426.56 426.24 0.32 0.1% 22.4% 1.9% TOP TEN STOCKS VOLUME Advances ...... 88 COMPUTERS/PERIPHERALS/ELECTRONICS S Crown Media Holdings Inc. CRWN 2.49 10.7% -5.0% 72.9% NA 895.6 Portofino Arcadia 91006 6 650 589 10% Free Dub Magazine Custom Auto Show three months,” said Painter, who believes a El Monte 91731 5 9 -44% 315 315 0% 3 1 200% 250 570 -56% La Canada Flintridge 91011 18 11 64% 904 816 11% 0 0 N/A N/A N/A N/A San Marino 91108 6 5 20% 1,422 1,420 0% 0 0 N/A N/A N/A N/A Declines...... 93 Aura Systems Inc. AUSI 0.79 -1.3% 5.3% 0.0% NA 45.4 Daily Journal Corp. DJCO 71.01 -2.7% -1.4% 10.5% 12.8 98.0 651 Whittier Blvd., La Habra • Pasadena 91105 5 615 305 102% INSURANCE ...... 144.97 146.93 -1.96 -1.3% 15.5% 1.2% Activision Blizzard Inc...... 52,850,650 (818) 989-3836 Saturday, Feb. 26 La Habra 90631 26 29 -10% 325 330 -2% 13 12 8% 270 167 62% Unchanged ...... 19 GTX Corp. GTXO 0.06 -14.7% -22.7% -65.9% NA 2.7 Derycz Scientific Inc. DYSC 3.00 -1.6% 13.2% 440.5% NA 39.3 $17 March 27 growing number of foreclosed and short-sale L.A./Brentwood 90049 11 611 785 -22% El Monte 91732 12 19 -37% 334 315 6% 4 4 0% 336 187 80% San Pedro 90731 9 12 -25% 470 412 14% 1 1 0% 337 320 5% INTERNET ...... 114.48 114.87 -0.39 -0.3% 41.9% -1.4% Walt Disney Co...... 49,464,822 New Highs ...... 23 Investing in Real Estate Loans Innovative Card Technologies Inc. (L) INVC 0.07 -44.0% -46.2% -66.7% 3.5 2.3 DirecTV DTV 42.61 -0.1% 6.7% 34.8% 19.2 35,524.9 (562) 944-1616 (626) 336-3821 houses will continue to depress the local market. Beverly Hills 90210 3 606 920 -34% El Monte/South El Monte 91733 12 8 50% 322 340 -5% 3 2 50% 299 310 -4% La Mirada 90638 25 25 0% 395 385 3% 3 2 50% 357 310 15% San Pedro 90732 1 6 -83% 390 502 -22% 5 14 -64% 285 358 -20% MEDIA/LEISURE/ENTERTAINMENT ...... 92.95 91.40 1.56 1.7% 17.6% 6.5% Power-One Inc...... 34,830,911 New Lows ...... 6 Interlink Electronics Inc. LINK 0.35 25.0% 25.0% 7.7% NA 4.8 Sponsor: UCLA Extension Down: Home in Bel-Air, where the median price fell 67 percent last month. DreamWorks Animation SKG Inc. DWA 28.70 0.0% -2.6% -28.7% 17.6 2,418.2 Friday, Feb. 11 There is plenty of evidence to support the El Segundo 90245 3 3 0% 685 929 -26% 5 4 25% 420 499 -16% La Puente 91744 32 33 -3% 259 260 0% 6 2 200% 260 188 38% Santa Clarita 91350 14 20 -30% 445 348 28% 7 6 17% 231 248 -7% MANUFACTURING ...... 139.00 139.18 -0.18 -0.1% 18.4% -2.9% Occidental Petroleum Corp...... 31,673,369 International Rectifier Corp. (H) IRF 32.59 5.0% 9.8% 63.6% 14.7 2,276.1 DTS Inc. DTSI 45.72 2.7% -6.8% 62.7% 58.6 783.6 10 a.m. HOME PRICE LOSSES NOTES ON STOCK TABLES Ixia XXIA 16.04 3.2% -4.4% 123.4% 320.8 1,067.1 Networking Breakfast Tuesday, Feb. 22 1010 Westwood Center • Hemp Con analysis. In December, new-housing starts Encino 91316 6 15 -60% 445 500 -11% 15 14 7% 190 272 -30% La Puente 91746 6 9 -33% 290 303 -4% 2 4 -50% 338 152 122% Amgen Inc...... 28,602,448 Entravision Communications Corp. EVC 2.39 2.6% -7.0% -19.0% 23.9 202.9 1/11 1/11 1/10 Santa Clarita 91390 8 16 -50% 453 408 11% 3 2 50% 300 285 5% MISC. SERVICES ...... 175.63 177.03 -1.40 -0.8% 46.8% 3.5% MRV Communications Inc. MRVC 1.74 0.6% -2.8% 107.1% 13.4 273.0 Sponsor: Beverly Hills Chamber of Commerce April 1-3 nationwide fell to a 14-month low as dis- Hanmi Financial Corp...... 27,706,367 Image Entertainment Inc. DISK 0.15 0.0% 7.1% -33.4% NA 12.9 Accounting & Bookkeeping 1010 Westwood Blvd., Westwood ZIP Home Median Median L.A. COUNTY MEDIAN HOME PRICES Encino 91436 8 9 -11% 875 1,460 -40% 1 1 0% 410 1,438 -71% La Verne 91750 12 15 -20% 520 458 14% 2 2 0% 358 126 184% Santa Fe Springs 90670 9 3 200% 330 337 -2% 5 2 150% 340 290 17% REAL ESTATE ...... 567.17 553.19 13.98 2.5% 55.6% 6.4% Tables based on Jan. 26 - Feb. 2 PC Mall Inc. MALL 7.24 4.5% -4.4% 37.1% 22.6 87.8 8 a.m. CB Richard Ellis Group Inc...... 25,766,147 Lions Gate Entertainment Corp. LGF 6.25 1.0% -4.0% 22.3% NA 853.8 Sponsor: VEDC $195 (626) 961-6522 counted existing homes continued to hit the Community Code Sales Price Price Change Lake Hughes 93532 2 1 100% 120 260 -54% 1 0 N/A 103 N/A N/A Power-One Inc. PWER 11.79 8.4% 15.6% 256.2% 16.4 1,257.7 Ruth’s Chris Steak House $500 Gardena 90247 12 6 100% 292 358 -18% 7 6 17% 237 245 -3% Santa Monica 90402 5 4 25% 1,902 2,118 -10% 1 2 -50% 1,675 1,042 61% RESTAURANTS/RETAIL/GROCERY STORES. . .176.79 180.70 -3.91 -2.2% 32.5% -3.2% (H) Stock hit new 52-week high Live Nation Entertainment Inc. LYV 10.76 0.6% -5.8% -6.4% NA 1,867.6 4 p.m. (310) 206-1579 market. L.A./Bel-Air 90077 7 $825 $2,500 -67% DirecTV ...... 25,393,894 Qualstar Corp. QBAK 1.94 1.6% 14.8% -13.0% NA 23.8 224 S. Beverly Drive, Beverly Hills Gardena 90249 7 13 -46% 372 385 -3% 3 4 -25% 280 332 -16% Lakewood 90712 19 18 6% 350 378 -7% 0 0 N/A N/A N/A N/A SOFTWARE ...... 696.24 675.44 20.79 3.1% 6.5% -5.8% NeuMedia Inc. (L) MNDL 0.28 0.0% -3.4% -37.8% NA 10.1 480 Santa Monica 90403 1 3 -67% 824 1,185 -30% 15 9 67% 675 849 -20% Mattel Inc...... 21,741,090 (L) Stock hit new 52-week low Semtech Corp. SMTC 22.14 0.0% -2.2% 43.3% 21.7 1,402.7 $30 5121 Van Nuys Blvd., Van Nuys Reality Rocks Lawrence Yun, chief economist at the Acton 93510 5 185 426 -57% National Lampoon Inc. NLMP 0.05 66.7% 66.7% -61.5% NA 0.5 • Glendale 91201 4 3 33% 482 632 -24% 1 3 -67% 599 330 82% Lakewood 90713 16 18 -11% 393 420 -6% 0 2 N/A N/A 398 N/A (S) Stock split during week Taitron Components Inc. TAIT 1.35 0.0% -14.6% -4.9% NA 7.5 (310) 248-1000 $10 April 8-10 National Association of Realtors, believes the Westlake Village 91361 8 405 715 -43% Santa Monica 90405 6 6 0% 810 1,062 -24% 11 5 120% 505 401 26% MannKind Corp...... 20,075,374 Point.360 PTSX 0.88 -3.3% 0.0% -32.8% NA 9.5 460 Trio Tech International TRT 5.07 -0.6% 21.6% 28.4% 39.0 16.7 (818) 907-9922 Encino 91436 8 875 1,460 -40% Glendale 91202 7 5 40% 560 579 -3% 6 5 20% 306 330 -7% Lakewood 90715 13 9 44% 336 375 -10% 1 3 -67% 203 185 10% Sherman Oaks 91403 11 5 120% 874 704 24% 7 4 75% 322 410 -21% 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- Provision Holding Inc. PVHO 0.08 0.7% 25.0% -68.8% NA 3.2 (323) 525-2121 number of delinquent mortgage grew steadily Vitesse Semiconductor Corp. VTSS 5.55 6.5% 32.5% 0.9% NA 133.1 To be considered for publication, Calendar listings Whittier 90602 5 290 480 -40% 440 Lancaster 93534 30 41 -27% 104 95 9% 9 10 -10% 85 84 1% 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. Reading International Inc. RDI 5.00 -0.8% -1.0% 27.2% NA 120.0 Saturday, Feb. 12 in the second half of 2010. Glendale 91204 1 3 -67% 280 405 -31% 2 5 -60% 583 265 120% Sherman Oaks 91423 19 11 73% 776 875 -11% 7 2 250% 380 427 -11% CONSTRUCTION/ENGINEERING should be submitted at least three weeks in advance 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. RealD Inc. RLD 23.34 -6.4% -10.0% NA NA 1,146.0 Foreclosure Workshop L.A./West Hllywd 90069 5 785 1,295 -39% Glendale 91205 7 7 0% 383 465 -18% 3 2 50% 182 252 -28% Lancaster 93535 63 81 -22% 117 109 7% 10 14 -29% 122 108 13% Aecom Technology Corp. ACM 29.28 -1.9% 4.7% 7.6% 13.9 3,470.8 Best Practices in Negotiation • Latinos for Hire Job Fair “That trend will likely result in an increase 420 Sierra Madre 91024 3 4 -25% 625 784 -20% 1 1 0% 614 424 45% Salem Communications Corp. SALM 3.14 1.9% -0.9% -32.5% 44.9 75.8 Sponsor: California Foreclosure Institute of the event. Listings can be submitted by e-mail to Palos Verdes Est. 90274 16 1,272 1,968 -35% Ameron International Corp. AMN 71.23 -6.0% -6.7% 9.1% 30.2 659.0 Sponsor: UCLA Extension April 13 in the prime foreclosure rate down the road,” Glendale 91206 15 9 67% 800 699 14% 6 6 0% 257 307 -16% Lancaster 93536 77 68 13% 194 207 -6% 4 8 -50% 130 195 -33% Sports Club Inc. SCYL 0.25 0.0% 0.0% -28.6% NA 5.4 5:30 p.m. [email protected] or by mail to: L.A./Eagle Rock 90041 5 250 375 -33% 400 Signal Hill 90755 2 2 0% 555 548 1% 4 2 100% 276 188 47% Jacobs Engineering Group Inc. JEC 52.13 -1.7% 13.7% 39.6% 21.5 6,588.4 8 a.m. $345 Lawndale 90260 8 6 33% 270 320 -16% 3 4 -25% 360 274 31% Stratus Media Group Inc. SMDI 0.42 -6.7% -34.4% -72.0% NA 26.7 Los Angeles Business Journal (888) 550-3777 he wrote in a recent report. Topanga 90290 3 500 730 -32% Glendale 91207 3 8 -63% 850 674 26% 2 1 100% 302 215 40% South Gate 90280 35 29 21% 255 243 5% 2 4 -50% 253 258 -2% Event Format! KB Home KBH 14.91 -4.1% 10.5% -8.0% NA 1,147.7 Lindbrook Center Angela Iacobini Library 380 $330 NEW Tix Corp. TIXC 1.52 9.4% 22.6% 8.6% NA 47.3 Calendar Locally, home prices were all over the L.A./Brooklyn Hghts 90033 8 175 240 -27% Glendale 91208 6 5 20% 596 738 -19% 3 2 50% 282 228 24% Lennox 90304 6 3 100% 298 265 12% 1 1 0% 325 310 5% Ryland Group Inc. RYL 17.85 -2.1% 4.8% -25.5% NA 787.6 10920 Lindbrook Drive, Westwood 4900 Clark Ave., Lakewood South Pasadena 91030 11 10 10% 667 852 -22% 3 3 0% 588 510 15% Walt Disney Co. (H) DIS 40.49 2.7% 7.9% 35.1% 19.6 76,671.2 Tetra Tech Inc. TTEK 24.22 0.4% -3.4% 12.4% 19.7 1,495.8 $165 Free 5700 Wilshire Blvd. #170 map. Median prices rose in wealthy neigh- 360 Glendale/La Crescenta 91214 11 20 -45% 582 562 4% 4 2 100% 470 515 -9% Littlerock 93543 13 17 -24% 118 115 3% 2 3 -33% 104 100 4% Warner Music Group Corp. WMG 5.58 4.9% -0.9% 11.8% NA 864.6 $320 Stevenson Ranch 91381 10 20 -50% 653 557 17% 5 9 -44% 285 305 -7% Tutor Perini Corp. TPC 23.40 -0.3% 9.3% 21.1% 9.8 1,101.9 (310) 825-2012 (310) 379-0101 Los Angeles, CA 90036 borhoods such as Beverly Hills’ famous CONDO PRICE LOSSES Llano 93544 2 1 100% 128 79 62% 0 0 N/A N/A N/A N/A MISC. SERVICES 340 Glendora 91740 3 6 -50% 405 350 16% 3 2 50% 276 299 -8% Studio City 91604 21 23 -9% 799 900 -11% 7 12 -42% 498 482 3% ENERGY/UTILITIES L.A. Convention Center, (213) 741-1151, ext. 5340 90210 ZIP code and Pasadena’s 91105, but 1/11 1/11 1/10 Cadiz Inc. CDZI 11.98 -7.4% -3.7% 3.4% NA 163.9 Lomita 90717 6 2 200% 454 422 8% 0 2 N/A N/A 338 N/A American States Water Co AWR 34.08 -2.9% -1.1% 2.1% 19.8 634.6 ZIP Condo Median Median 320 Glendora 91741 10 13 -23% 618 565 9% 1 5 -80% 455 380 20% Sun Valley 91352 20 19 5% 303 285 6% 2 1 100% 220 215 2% Electro Rent Corp. ELRC 15.84 0.3% -2.0% 37.1% 22.0 379.8 were off in Santa Monica’s 90402 and in Community Code Sales Price Price Change BNK Petroleum Inc. BKX 4.73 -7.1% 37.6% 181.9% NA 672.0 Granada Hills 91344 29 29 0% 421 400 5% 6 8 -25% 372 240 55% Long Beach 90802 5 2 150% 295 371 -20% 27 27 0% 243 208 17% COMMERCIAL Enova Systems Inc. ENA 1.20 0.3% -6.4% -42.6% NA 37.7 Palos Verdes Estates. Sunland 91040 14 19 -26% 338 335 1% 2 2 0% 241 240 0% BreitBurn Energy Partners LP (H) BBEP 22.79 3.9% 13.2% 58.4% 15.6 1,214.9 Chapter: 11 Millenniun Records Inc. West Valley United Inc. Assets: $411 P.V. Estates 90275 5 $305 $600 -49% 300 Long Beach 90804 9 5 80% 360 375 -4% 6 6 0% 132 111 19% Korn/Ferry International (H) KFY 24.05 1.9% 4.1% 57.2% 28.0 1,116.0 Hacienda Heights 91745 26 24 8% 424 426 0% 7 4 75% 252 280 -10% Capstone Turbine Corp. CPST 1.24 2.5% 29.2% 5.1% NA 305.9 � BANKRUPTCIES Assets: N/A (Single-asset real estate) (Investment) Debts: $18,991 Painter said he doesn’t believe the market Van Nuys 91411 3 155 300 -48% Sylmar 91342 42 48 -13% 316 304 4% 17 20 -15% 178 200 -11% National Technical Systems Inc. NTSC 7.76 1.2% -3.8% 42.5% 12.7 78.7 280 Long Beach 90805 29 44 -34% 240 272 -12% 7 6 17% 276 244 13% Cavitation Technologies Inc. (L) CVAT 0.11 0.0% -24.1% -50.0% NA 14.8 Debts: N/A 7100 Hayenhurst Ave. 4924 Balboa Blvd., Suite #333 Doc# LA11-11510-BR will show any broad recovery for 12 to 18 Torrance 90502 9 175 330 -47% Harbor City 90710 8 5 60% 402 425 -5% 10 7 43% 280 350 -20% Tarzana 91356 13 22 -41% 740 885 -16% 13 14 -7% 195 296 -34% NetSol Technologies Inc. NTWK 2.15 -2.3% 15.0% 110.8% 19.5 105.3 Edison International EIX 36.64 -1.8% -5.1% 7.8% 10.5 11,937.7 DNL Inc. Van Nuys 91406 Belmont Shore 90803 6 249 468 -47% 260 Hawaiian Gardens 90716 3 8 -63% 220 208 6% 5 3 67% 193 160 21% Long Beach 90806 19 10 90% 305 382 -20% 2 1 100% 300 235 28% On Assignment Inc. ASGN 8.52 2.9% 4.5% 21.5% 60.9 311.5 Doc# LA11-11698-PC Encino 91316 File-Date: 01/12/11 more months despite signs the economy is Temple City 91780 9 18 -50% 580 568 2% 4 6 -33% 312 506 -38% Occidental Petroleum Corp. (H) OXY 98.66 1.8% 0.6% 22.1% 17.3 80,169.7 (Business type N/A) File-Date: 01/13/11 Chapter: 7 Chapter: 7 George L. Young slowly healing. Torrance 90503 7 340 579 -41% Hawthorne 90250 21 16 31% 315 347 -9% 5 3 67% 260 305 -15% Long Beach 90807 13 10 30% 420 522 -20% 5 4 25% 159 194 -18% U.S. China Mining Group Inc. SGZH 5.50 -4.3% -13.5% -29.9% 12.8 82.1 Rentech Inc. RTK 1.25 -2.3% 2.5% 0.8% NA 277.8 240 Topanga 90290 3 5 -40% 500 730 -32% 0 1 N/A N/A 360 N/A 10702 Moorpark St. Troy A. Stewart Assets: $1,200,000 Assets: N/A 626-795-9699 Torrance 90501 6 265 448 -41% Long Beach 90808 25 19 32% 430 480 -10% 2 3 -33% 415 470 -12% REAL ESTATE S Voyager Oil & Gas Inc. VYOG 5.32 10.8% -1.5% 406.7% 40.9 241.2 Scope Industries SCPJ 176.00 0.0% 36.4% 41.1% 54.5 175.8 “There’s a huge inventory of houses, and Hermosa Beach 90254 8 9 -11% 990 1,058 -6% 2 3 -33% 1,230 1,024 20% Torrance 90501 13 9 44% 475 354 34% 6 6 0% 265 448 -41% Toluca Lake 91602 Debts: $1,536,343 Temple City 91780 4 312 506 -38% 220 (In thousands) FINANCIAL SERVICES Simon Worldwide Inc. SWWI 0.33 0.0% 34.4% 17.9% NA 16.7 626-616-9474 Debts: N/A it’s going to take time to work through this Huntington Park 90255 14 13 8% 260 257 1% 9 12 -25% 160 189 -15% Long Beach 90810 8 14 -43% 214 233 -8% 2 3 -33% 114 225 -49% Chapter: 7 Doc# SV11-10320-GM Newhall 91321 8 176 275 -36% Torrance 90502 5 7 -29% 348 315 10% 9 9 0% 175 330 -47% 1st Century Bancshares Inc. FCTY 4.21 -0.5% 2.7% 23.8% NA 41.1 Sionix Corp. SINX 0.04 -2.4% -20.0% -65.1% 4.0 9.3 Doc# SV11-10428-GM 339-202 Palm Inc. 200 File-Date: 01/07/11 backlog,” he said. “Certainly the increase in Beverly Hills 90210 3 606 920 -34% Inglewood 90301 7 9 -22% 225 225 0% 2 5 -60% 124 178 -30% Long Beach 90813 10 9 11% 248 285 -13% 5 5 0% 300 135 122% AWARDS American Business Bank AMBZ 24.30 -0.8% -0.8% 7.5% 11.1 96.6 UTi Worldwide Inc. (H) UTIW 21.73 -2.1% 2.5% 58.7% 35.6 2,213.0 Assets: N/A Sunset 661 Investments Inc. File-Date: 01/11/11 (Investment) JFMAMJJAS0NDJF MAMJJASO DNJ Torrance 90503 12 10 20% 562 585 -4% 7 4 75% 340 579 -41% REAL ESTATE Steven M. Gluck consumer spending is positive, but consumers Tarzana 91356 13 195 296 -34% Long Beach 90814 1 4 -75% 573 596 -4% 3 3 0% 262 322 -19% Anworth Mortgage Asset Corp. ANH 6.95 0.4% -0.7% -2.0% 7.2 839.8 Debts: N/A (Investment) Pro-per. 741 W. 24th St., Suite #17 2009 2010 ’11 Inglewood 90302 4 8 -50% 230 202 14% 5 7 -29% 145 130 12% Torrance 90504 8 7 14% 488 450 8% 3 0 N/A 380 N/A N/A Alexandria Real Estate Equities Inc. ARE 76.98 -0.5% 5.1% 25.2% 41.4 4,260.0 Doc# SV11-10177-MT 818-887-8205 are going to wait to get back into housing until Long Beach 90815 7 11 -36% 490 450 9% 1 2 -50% 193 250 -23% Bank of Santa Clarita (H) BSCA 8.50 6.3% 22.3% 21.4% 25.8 14.6 3524 Tournament Drive San Pedro 90731 Sale price in thousands Source: HomeData, www.homedata.com Source: HomeData Corp. Inglewood 90303 6 9 -33% 257 285 -10% 1 1 0% 262 255 3% S S CB Richard Ellis Group Inc. (H) CBG 24.04 10.3% 17.4% 78.2% 38.8 7,762.4 they see a definite turnaround.” Torrance 90505 16 19 -16% 666 690 -3% 5 3 67% 405 337 20% Beach Business Bank (H) BBBC 5.94 15.3% 18.8% 44.9% NA 23.9 File-Date: 01/06/11 Palmdale 93551 T2 Holding Inc. Chapter: 7 Inglewood 90305 6 4 50% 312 274 14% 0 3 N/A N/A 275 N/A Long Beach/Belmont Shore 90803 6 6 0% 452 587 -23% 6 14 -57% 249 468 -47% The Los Angeles Business Journal is proud to announce the 2011 Commercial Real Estate T Broadway Financial Corp. BYFC 2.16 -10.4% -11.1% -66.8% NA 3.8 Douglas Emmett Inc. DEI 18.25 2.4% 9.9% 28.3% NA 2,253.8 BH Investment & Management Inc. Tujunga 91042 13 20 -35% 320 332 -4% 6 2 200% 258 272 -5% Pro-per. Chapter: 7 (Real estate) Assets: N/A – Joel Russell California United Bank CUNB 12.90 2.8% 4.5% 20.0% NA 63.7 HCP Inc. HCP 37.04 1.5% 0.7% 25.1% 36.3 13,738.0 (Business type N/A) L.A. 90011 21 21 0% 229 185 24% 6 5 20% 264 158 67% Lynwood 90262 25 18 39% 225 240 -6% 1 2 -50% 245 244 0% Awards. We invite you to join us as we recognize the biggest, best, and most notable 5737 Manton Ave. Debts: N/A Valencia 91354 19 16 19% 400 455 -12% 9 7 29% 325 350 -7% Cathay General Bancorp CATY 17.97 1.2% 7.6% 88.0% 599.0 1,411.1 Hudson Pacific Properties Inc. (L) HPP 14.50 -2.4% -3.7% NA NA 322.2 Assets: N/A 4708 Fountain Ave. Malibu 90265 2 5 -60% 1,382 952 45% 4 2 100% 462 947 -51% Scott V. Hazarian Doc# LA11-11558-BB L.A. 90062 13 19 -32% 238 227 5% 2 2 0% 382 300 27% Valencia 91355 17 16 6% 415 441 -6% 5 12 -58% 418 230 82% commercial real estate projects of 2010. We’ll be honoring the developer, architect Center Financial Corp. CLFC 7.53 0.9% -0.7% 49.1% NA 300.5 Intergroup Corp. INTG 21.99 -0.7% 1.8% 139.3% NA 53.3 Debts: N/A L.A. 90029 Woodland Hills 91364 Kennedy-Wilson Holdings Inc. KW 10.76 2.0% 7.7% 15.7% NA 433.6 DBA: Sofa Interiors Interiors File-Date: 01/12/11 January 2011 New and Existing Home Sales in L.A. County Condo Sales L.A./Baldwin Hills 90008 5 7 -29% 460 379 21% 1 2 -50% 195 305 -36% Manhattan Beach 90266 17 18 -6% 1,345 1,154 17% 8 5 60% 850 975 -13% City National Corp. CYN 58.27 -0.6% -5.0% 17.2% 25.3 3,036.9 Doc# LA11-10734-PC Chapter: 7 Chapter: 7 Valley Village 91607 8 15 -47% 547 548 0% 8 10 -20% 395 327 21% and general contractor of each award winning project. In addition, we’ll recognize the Kilroy Realty Corp. (H) KRC 39.02 3.3% 7.0% 32.2% 177.4 2,042.7 (Sofas, chairs, ottomans, etc.) Pro-per. L.A./Baldwin Hills 90056 3 4 -25% 533 685 -22% 1 2 -50% 740 510 45% Marina del Rey 90292 2 1 100% 1,002 1,845 -46% 17 9 89% 590 593 -1% Colony Financial Inc. (H) CLNY 20.44 0.5% 2.1% 3.3% 26.9 299.1 File-Date: 01/06/11 Assets: $2,022,738 Assets: $1,254,000 Van Nuys 91401 15 9 67% 487 630 -23% 5 8 -38% 325 322 1% East West Bancorp Inc. EWBC 22.00 0.8% 12.5% 33.4% 25.8 3,256.1 LTC Properties Inc. LTC 27.28 -1.1% -2.8% 4.4% 23.7 715.5 1269 Irving Ave. Median Price Median Price most successful broker/broker teams in the market! Winners will be announced at the Pro-per. Debts: $4,618,271 Debts: $6,524,731 L.A./Bel-Air 90077 7 4 75% 825 2,500 -67% 0 2 N/A N/A 1,175 N/A Maywood 90270 5 6 -17% 215 212 1% 1 0 N/A 250 N/A N/A Farmers & Merchants Bank (H) FMBL 4250.00 -2.3% 7.1% 10.4% 10.5 556.4 Macerich Co. MAC 48.15 1.1% 1.6% 52.6% 326.7 6,264.8 Glendale 91201 Home Sales Percent (thousands) Percent Condo Sales Percent (thousands) Percent Van Nuys 91405 14 13 8% 355 320 11% 7 14 -50% 120 168 -29% Doc# LA11-11165-TD Doc# SV11-10437-GM 23414 Clarendon Inc. L.A./Brentwood 90049 8 9 -11% 1,150 1,282 -10% 11 13 -15% 611 785 -22% Mission Hills 91345 4 12 -67% 303 285 6% 1 2 -50% 220 220 0% Commercial Real Estate Awards reception on February 24, 2011. First California Financial Group Inc. FCAL 3.17 2.3% 13.2% 10.1% NA 89.3 MPG Office Trust Inc. MPG 3.69 6.3% 34.2% 130.6% NA 177.6 Chapter: 11 Community ZIP Code 2011 2010 Change 2011 2010 Change 2011 2010 Change 2011 2010 Change Van Nuys 91406 15 20 -25% 330 332 -1% 5 9 -44% 265 200 33% Valley Christian Center Church of File-Date: 01/11/11 (Investment) First Commerce Bancorp FCCC 4.68 0.0% 0.0% 122.9% NA 42.8 Meruelo Maddux Properties Inc.* (H) MMPIQ 0.50 61.3% 78.6% 809.1% NA 44.0 Assets: N/A File-Date: 01/10/11 Los Angeles County 3,344 3,702 -10% $330 $342 -4% 1,300 1,408 -8% $293 $305 -4% L.A./Brooklyn Heights 90033 8 6 33% 175 240 -27% 0 0 N/A N/A N/A N/A Monrovia 91016 13 20 -35% 420 500 -16% 6 8 -25% 330 380 -13% Pacific Office Properties Trust Inc. PCE 2.94 -4.9% -29.5% -26.2% NA 56.9 Los Angeles Pro-per. Charles Shamash 23414 Clarendon St. Van Nuys 91411 10 9 11% 405 376 8% 3 3 0% 155 300 -48% General Finance Corp. (H) GFN 2.74 9.6% 38.4% 114.1% NA 60.3 Debts: N/A Acton 93510 5 6 -17% 185 426 -57% 0 0 N/A N/A N/A N/A L.A./Chesterfield Square 90047 37 34 9% 250 236 6% 0 2 N/A N/A 240 N/A Montebello 90640 14 12 17% 372 368 1% 7 7 0% 292 178 64% Portsmouth Square Inc. PRSI 23.00 0.0% 0.0% 33.3% NA 16.9 (Non-profit corp.) 310-205-3400 Woodland Hills 91367 Venice 90291 7 10 -30% 870 788 10% 4 3 33% 1,078 875 23% Great American Group Inc. GAMR 0.46 -22.0% -6.1% -88.1% NA 14.1 Doc# LA11-11400-RN Monterey Park 91754 11 6 83% 410 506 -19% 4 6 -33% 397 374 6% Green Dot Corp. GDOT 62.29 -3.1% 9.8% NA NA 2,603.4 PS Business Parks Inc. PSB 58.04 -1.9% 4.2% 22.5% 39.8 1,429.0 1404 W. Gladstone St. Progressive Gaming Group Inc. Chapter: 7 Agoura Hills 91301 12 14 -14% 572 562 2% 7 7 0% 264 312 -15% L.A./City College 90029 5 4 25% 454 416 9% 0 3 N/A N/A 460 N/A Awards Reception: Individual Tickets: $75 File-Date: 01/11/11 Walnut 91789 25 29 -14% 700 575 22% 1 2 -50% 168 331 -49% S Hanmi Financial Corp. HAFC 1.30 11.1% 13.0% -9.6% NA 196.6 Public Storage (H) PSA 109.13 2.0% 7.6% 34.5% 43.1 19,501.8 (Business type N/A) Voyager’s Club Inc. Assets: N/A Alhambra 91801 7 6 17% 490 466 5% 8 14 -43% 356 368 -3% L.A./City Terrace 90063 10 15 -33% 175 213 -18% 1 2 -50% 195 298 -35% Monterey Park 91755 3 9 -67% 399 425 -6% 5 2 150% 385 382 1% James T. King San Dimas 91773 West Covina 91790 15 21 -29% 340 350 -3% 1 2 -50% 215 278 -23% Thursday, February 24, 2011 To register to attend this event, please visit Kaiser Federal Financial Group Inc. KFFG 12.00 1.7% 3.6% -2.0% 32.0 114.7 Santa Fe Financial Corp. SFEF 13.50 0.0% 2.2% 68.8% NA 16.8 432 E. Garvey Ave. (Travel agency) Debts: N/A Montrose 91020 3 3 0% 560 520 8% 3 4 -25% 302 372 -19% 818-242-1100 Chapter: 7 Alhambra 91803 5 13 -62% 410 440 -7% 1 5 -80% 750 368 104% L.A./Crenshaw District 90016 13 11 18% 335 275 22% 9 6 50% 255 218 17% Malaga Financial Corp. MLGF 17.90 0.0% 17.4% 43.2% 10.1 103.8 Thomas Properties Group Inc. TPGI 3.83 -0.5% -9.2% 37.8% NA 188.7 Monterey Park 91755 Doc# SV11-10469-MT West Covina 91791 13 16 -19% 365 408 -11% 0 6 N/A N/A 236 N/A Assets: $2,102,500 2 E. Valley Blvd., Unit #1G Altadena 91001 19 24 -21% 530 482 10% 3 1 200% 343 435 -21% L.A./Eagle Rock 90041 5 7 -29% 250 375 -33% 1 1 0% 376 513 -27% Newhall 91321 8 13 -38% 302 392 -23% 8 14 -43% 176 275 -36% 5:30pm to 7:30pm www.labusinessjournal.com/bizevents Manhattan Bancorp MNHN 5.30 0.0% 2.9% -3.6% NA 21.1 RESTAURANTS/RETAIL/GROCERY Chapter: 7 File-Date: 01/12/11 West Covina 91792 10 10 0% 320 345 -7% 3 4 -25% 178 250 -29% 99 Cents Only Stores NDN 14.80 -4.0% -7.2% 11.3% 14.2 1,034.8 Debts: $891,000 Alhambra 91801 North Hills 91343 17 18 -6% 338 386 -12% 13 14 -7% 148 175 -15% or contact Marissa De La Cruz at S Mission Valley Bancorp (H) MVLY 4.25 11.8% 13.3% -16.2% NA 10.5 Xtreme Medical Inc. Assets: $60 Pro-per. Arcadia 91006 9 9 0% 659 818 -19% 6 3 100% 650 589 10% L.A./East L.A. 90022 9 12 -25% 230 232 -1% 2 2 0% 287 307 -7% Nara Bancorp Inc. NARA 9.99 1.7% 1.4% 9.8% NA 379.3 Arden Group Inc. ARDNA 80.00 -4.5% -3.0% -20.1% 13.3 252.9 Doc# LA11-10842-PC Chapter: 7 West Hills 91307 17 22 -23% 425 494 -14% 3 2 50% 420 240 75% Location: (Medical equipment & supplies) Debts: $305,921 Arcadia 91007 10 15 -33% 874 950 -8% 11 8 38% 570 548 4% L.A./East L.A. 90023 7 2 250% 250 195 28% 0 3 N/A N/A 250 N/A North Hollywood 91601 10 7 43% 378 335 13% 6 2 200% 348 260 34% [email protected] S NCAL Bancorp NCAL 10.10 17.4% 1.0% -17.6% NA 23.6 Big 5 Sporting Goods Corp. BGFV 12.65 -8.7% -17.2% -14.1% 11.7 276.0 File-Date: 01/07/11 Westlake Village 91361 8 17 -53% 405 715 -43% 4 7 -43% 280 379 -26% 5580 Imperial Hwy. North Hollywood 91602 2 4 -50% 560 600 -7% 4 8 -50% 399 345 16% Century Plaza Hyatt Regency Pacific Commerce Bank PFCI 3.75 0.0% 25.0% -8.5% NA 9.2 California Pizza Kitchen Inc. CPKI 16.10 -2.7% -6.8% 13.2% 19.9 395.7 Pro-per. Doc# LA11-11312-BR Artesia 90701 8 5 60% 262 330 -21% 0 1 N/A N/A 275 N/A L.A./Echo Park 90026 7 13 -46% 340 335 1% 1 5 -80% 525 399 32% South Gate 90280 Bankruptcy information is supplied by Timely Info of Los Angeles, Jack Vaughn (323) 664-4423. Westlake Village 91362 8 11 -27% 544 552 -1% 7 18 -61% 325 367 -11% PennyMac Mortgage Investment Trust (H) PMT 18.44 -0.3% 1.6% 13.5% 12.9 310.4 Cheesecake Factory Inc. CAKE 29.92 -2.0% -2.4% 36.3% 22.2 1,773.0 File-Date: 01/11/11 North Hollywood 91605 20 22 -9% 315 316 0% 2 3 -33% 170 232 -27% 2025 Avenue of the Stars Chapter: 11 Chapter 7: a “straight” liquidation bankruptcy involving an appointed trustee to sell all assets by Azusa 91702 23 17 35% 285 250 14% 11 13 -15% 225 218 3% L.A./El Sereno 90032 20 9 122% 260 180 44% 4 1 300% 368 185 99% T Preferred Bank PFBC 1.52 -17.4% -13.6% 11.8% NA 100.3 DineEquity Inc. DIN 53.10 3.0% 7.5% 121.2% 23.3 957.0 Paul Horn Whittier 90601 10 11 -9% 315 370 -15% 3 3 0% 193 180 7% Assets: N/A Universal Construction Maintenance auction or other means to pay creditors and trustee fees. Baldwin Park 91706 23 26 -12% 250 283 -12% 6 9 -33% 262 196 34% L.A./Exposition Park 90037 15 15 0% 225 170 32% 2 3 -33% 245 280 -13% North Hollywood 91606 13 13 0% 325 275 18% 4 4 0% 262 244 7% Los Angeles, 90067 SearchMedia Holdings Ltd. IDI 3.02 1.3% -2.9% -50.1% NA 63.0 Grill Concepts Inc. GLLC 0.20 0.0% -31.0% -48.7% NA 1.8 626-695-7310 Whittier 90602 5 6 -17% 290 480 -40% 1 4 -75% 219 298 -27% Debts: N/A Integration Co. Inc. Chapter 11: a process which allows a business to gain temporary relief from paying debt in order to Northridge 91324 8 12 -33% 392 465 -16% 4 1 300% 288 280 3% Saehan Bancorp SAEB 0.35 0.0% -10.3% -56.3% NA 4.2 Jerry's Famous Deli Inc. DELI 3.50 0.0% 0.0% 11.1% 11.3 16.4 attempt a successful reorganization. The debtor remains in control of the business during the bank- Bell/Bell Gardens 90201 9 10 -10% 232 244 -5% 5 3 67% 350 298 17% L.A./Hancock Park 90004 9 13 -31% 765 754 1% 4 7 -43% 362 363 0% Doc# LA11-11594-BB (Business type N/A) Whittier 90603 10 12 -17% 388 405 -4% 0 2 N/A N/A 264 N/A Wilshire Bancorp Inc. WIBC 6.47 -0.3% -15.1% -27.9% NA 190.8 T Sport Chalet Inc. SPCHB 2.37 -23.1% -36.6% 14.5% NA 33.8 115566 LLC ruptcy and the business continues to function. Bellflower 90706 25 19 32% 325 335 -3% 7 6 17% 316 200 58% L.A./Highland Park 90042 24 25 -4% 398 295 35% 12 10 20% 303 362 -16% Northridge 91325 14 7 100% 472 380 24% 6 4 50% 265 355 -25% HEALTH CARE SOFTWARE File-Date: 01/12/11 725 Battery St. Whittier 90604 17 16 6% 309 394 -22% 2 0 N/A 132 N/A N/A (Business type N/A) Chapter 13: a bankruptcy plan available to individuals whose “income is sufficiently stable and reg- L.A./Hollywood 90028 1 2 -50% 455 452 1% 4 2 100% 748 485 54% Northridge 91326 22 22 0% 605 585 3% 7 5 40% 399 400 0% Apollo Medical Holdings Inc. (H) AMEH 0.21 49.1% 39.2% 62.1% NA 5.8 Activision Blizzard Inc. ATVI 11.69 3.0% -6.0% 14.0% 19.5 14,098.5 M. Jonathan Hayes San Pedro 90731 Beverly Hills 90210 7 9 -22% 2,180 1,710 27% 3 3 0% 606 920 -34% 11835 Kling St. ular to enable such individual to make payments under a plan.” The debtor makes payments to a Norwalk 90650 45 55 -18% 285 290 -2% 9 6 50% 220 240 -8% Whittier 90605 14 22 -36% 294 300 -2% 2 0 N/A 274 N/A N/A PRESENTING SPONSORS: PLATINUM SPONSOR: Compumed Inc. CMPD 0.10 -5.0% 5.6% -44.1% NA 2.6 Artificial Life Inc. ALIF 0.78 -3.2% -23.5% -44.3% 4.6 49.8 818-882-5600 Chapter: 7 Valley Village 91607 trustee who disburses the funds to creditors. Beverly Hills 90211 1 3 -67% 3,005 1,200 150% 2 0 N/A 530 N/A N/A L.A./Hollywood Hills 90068 16 6 167% 948 860 10% 2 3 -33% 712 370 92% T CrowdGather Inc. CRWG 1.27 -31.7% -19.1% -17.5% NA 59.0 T CyberDefender Corp. CYDE 2.11 -12.4% -31.0% -50.8% NA 57.4 Whittier 90606 14 9 56% 289 310 -7% 3 2 50% 280 284 -1% Assets: $4,500 Chapter: 7 Involuntary bankruptcy: the debtor is forced into bankruptcy by secured creditors whose claims Beverly Hills 90212 2 1 100% 1,358 1,380 -2% 4 5 -20% 790 816 -3% L.A./Koreatown 90005 1 4 -75% 2,300 865 166% 8 4 100% 282 326 -13% Pacific Palisades 90272 9 15 -40% 1,439 1,500 -4% 3 5 -40% 1,230 690 78% Emergent Group Inc. LZR 6.10 -5.3% -6.7% -21.2% 13.9 42.1 Guidance Software Inc. GUID 7.25 0.6% 0.8% 35.0% NA 178.4 Richard Stephen Kvassay Debts: $2,781,759 Assets: N/A total at least $220,000. Involuntary bankruptcy may be filed under Chapter 7 or 11. Pacoima 91331 30 39 -23% 258 260 -1% 4 13 -69% 180 140 29% Wilmington 90744 16 19 -16% 254 265 -4% 4 2 100% 240 148 62% Health Net Inc. (H) HNT 29.78 1.9% 9.1% 21.0% 12.8 2,845.6 Peerless Systems Corp. PRLS 3.22 -0.6% 2.2% 23.4% 12.9 10.8 Burbank 91501 5 4 25% 656 680 -4% 4 7 -43% 394 340 16% L.A./Koreatown 90006 3 1 200% 360 270 33% 9 5 80% 285 285 0% DBA: Sierra Packaging Co. Doc# LA11-10903-ER Hemacare Corp. HEMA 0.41 -16.3% -25.5% -19.6% NA 4.2 Simulations Plus Inc. SLP 3.21 0.9% 19.3% 93.4% 24.7 49.8 Debts: N/A AKA: also known as FKA: formerly known as Burbank 91504 9 11 -18% 500 608 -18% 5 6 -17% 347 355 -2% L.A./Lincoln Heights 90031 10 6 67% 292 190 54% 6 0 N/A 243 N/A N/A Palmdale 93550 57 71 -20% 120 118 2% 17 15 13% 105 97 8% Winnetka 91306 15 21 -29% 325 360 -10% 5 11 -55% 250 177 41% S (Paper box maker) File-Date: 01/07/11 Doc# LA11-11352-BR DBA: doing business as FAW: formerly associated with Herbalife Ltd. HLF 67.12 1.5% -1.8% 64.9% 15.5 3,976.2 THQ Inc. THQI 6.41 10.9% 5.8% 24.2% NA 435.5 Burbank 91505 15 16 -6% 431 519 -17% 3 3 0% 445 370 20% L.A./Los Feliz 90027 12 8 50% 820 838 -2% 3 1 200% 323 325 -1% Palmdale 93551 56 67 -16% 210 225 -7% 5 2 150% 144 260 -45% Woodland Hills 91364 22 28 -21% 508 585 -13% 3 0 N/A 340 N/A N/A 1035-C Westminster Ave. David L. Oberg File-Date: 01/11/11 FDBA: formerly doing business as * Reorganizing under Chapter 11 Alhambra 91803 818-223-9384 Pro-per. Burbank 91506 7 8 -13% 447 512 -13% 1 4 -75% 650 462 41% L.A./Mar Vista 90066 10 15 -33% 575 727 -21% 7 4 75% 350 425 -18% Palmdale 93552 41 60 -32% 150 156 -4% 2 2 0% 146 128 14% Woodland Hills 91367 19 19 0% 540 583 -7% 17 16 6% 270 280 -4%

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FEBRUARY 7, 2011 REAL ESTATE LOS ANGELES BUSINESS JOURNAL 29 30 LOS ANGELES BUSINESS JOURNAL FEBRUARY 7, 2011 FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL 31 32 LOS ANGELES BUSINESS JOURNAL FEBRUARY 7, 2011 FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL 33 34 LOS ANGELES BUSINESS JOURNAL FEBRUARY 7, 2011 FEBRUARY 7, 2011 LOS ANGELES BUSINESS JOURNAL 35 Investment Properties For Sale BUSINESS MARKETPLACE BUSINESS MARKETPLACE BUSINESS MARKETPLACE Legal: Son Won’t Sit and Wait for Herbalife Fortune Government: Tax Credits in Endangered Zones? Subscribe today. Staying CAREER SERVICES AUCTIONS CORPORATE TRANSPORTATION FINANCIAL SERVICES LEGAL SERVICES Continued from page 1 As part of your subscription, you COMMERCIAL INDUSTRIAL ground static,” he said. “They have no basis in will also receive access to Continued from page 1 fact and they have no basis in law.” 2 still isn’t the daily electronic Los Angeles 101 to resort to cost-cutting to deal with the W. 3rd Dodger WANT TO Business Journal, unlimited on-line FOR SALE 5 FOR SALE ABSOLUTE AUCTION Mark. “I had the hope that when (Alex) became Acting on his own? higher tax bill. WILSHIRE Stadium an adult and went away to college, that it would Klein claims the trust had paid the mother Enterprise zones were designed to improve an option • Owner/User/Inv • Light Industrial NEED CONSERVE CASH access to our archives, BLVD. resolve itself, that he would have the opportuni- and son more than $200,000 a year, although he economically struggling areas by giving com- • Formerly West Coast Choppers and the Book of Lists published • Approx. 16,350 SF retail 10 MADONNA-TWISSELMAN RANCHES TO SUE? WHEN YOU DO? ty to see the world through his own eyes.” acknowledged that most of that is required panies that locate there tax credits of up to at the end of the year. • $1,595,000 • Located Just East Of 710 Fwy Alex’s attorney, Eric Rowen of Greenberg under Suzan’s divorce agreement. The settle- $37,000 per worker hired. The companies also LOS ANGELES COUNTY Near The Port Of Long Beach VENTURA COUNTY FIGUEROA Traurig LLP, disputes the idea that his client ment requires that she be paid $10,000 a month would get tax credits for purchasing equipment FLOWER • 2 Story with Offi ces, Show ◆ TC Macker / 10  in child support and about $80,000 a year for Santa Room & Large Work Area is prolonging the case. He said Alex would not as part of an expansion. C. Newlands Clarita ALAMEDA 60  comment. taxes and insurance on her home, in addition to But in recent years, as the recession took a Call toll-free 110 I take Business & Real Estate cases (310) 478-7700 Steve Warshauer ◆ 888-895-7535 ext 225      “I don’t believe (Alex) views himself in money for Alex’s medical bills and tuition. bite out of companies’ incomes and lowered Santa Monica Deal: Pierpoint Pacific office building at 1540 Second Street. 1.800.404.5225 on contingency, including: any respect as perpetuating disputes that The trust also has paid for the rental of a their tax bills, many of those tax credits have 1  
     Simi 118 existed between the trustees and his mother,” summer home in Malibu, winter vacation and been piling up. That’s because unused tax credits 2 • Breach of Contract • Fraud • Rowen said. “He has reached the age of travel expenses to visit colleges. Currently, there can be banked and used to offset future state tax Valley Northridge Located just 2.5 miles from downtown San Luis Obispo, this FOR SALE • Business Litigation • maturity and he is taking a fresh look at are no requests for tuition and other payments, bills. Many companies were looking forward to Realty Firm Looks to Raise Burbank 4 picturesque property will be selling as 2 Ranches. Both are • Lender Foreclosure 170 Need more everything.” and the child support payments stopped when using them when the economy recovered and Agoura 5 In any event, the long-running case is a Alex turned 18, so she’s getting relatively little. their business improved. Under Brown’s plan, • Old Town La Quinta Hills 101 ideal for developing a countryside estate, your very own If I don’t win, you don’t pay me. Pasadena 210 ranchette or establishing a natural or organic farm. This morass. There are more than one dozen out- Despite the lack of communication, Woods, those banked credits would be erased. Its Profile on the Westside • 2 Story Offi ce/Retail Calabasas Glendale information on standing legal issues, including two pending the trustees’ attorney, said he was hoping Alex “We’ve got 1,100 client companies in Cali- Hollywood 405 • $3,695,000 (7.5% cap) Alhambra 10 West property exudes serenity and spectacular natural beauty. I personally handle the cases I accept. petitions for removal of the trustees. Most of would be more open to a settlement than his fornia enterprise zones and just about every announced last week that it signed British film Covina Boasting breathtaking views of Pismo Beach, The Oceano them stem from Suzan’s, and now Alex’s, mother, although he hasn’t “seen anything to one of them has credits that haven’t yet been EXPANSION: Rodeo opens ◆ C. Holland / J. Bertram Santa LOS ANGELES Pomona advertising your belief that the trustees have not more generous- indicate he would be more willing.” used,” said Rob Babek, partner in charge of the production company GK Films to a 10-year, 1 Monica Sand Dunes, The Morro Bay Coastline and Morro Rock. I’ve been a civil litigator and L.A. Gala: Suzan Hughes, second from right, with son Alex, center, at 2006 event. (310) 478-7700 Montebello ly distributed money on a discretionary basis. Woods also said it was possible that when Century City office of Marcum LLP, a New Sunset Strip office, relocates $16 million deal for 28,350 square feet of space Malibu Whittier trial attorney for more than 20 years. In response, the trustees say they are prevented Hughes Enterprises, a company run by her, between $40 million and $70 million, to be the $40 million-plus custodianship is handed York-based accounting firm. “If these credits on the second floor of the three-story building, Venice Culver City LOS ANGELES COUNTY Investment from communicating with Alex to make sure was not returned. handed over to Alex when he turns 25. At that over to Alex at 25, he may drop the fight. are taken away, it could force them to put on Beverly Hills headquarters. which features private balconies with ocean Marina Del Rey Lynwood views and is directly across Second Street from ORANGE COUNTY Graduate of USC Law School what the payments are for. Edward Woods, an attorney at Century age, Alex also will begin receiving annual pay- But the trustees wonder if Alex is acting on hold hiring plans, hire outside the state or even FOR SALE Hawthorne But there are other disputes as well. She City-based Browne Woods George LLP who ments topping $1 million a year, one-third of his own. to go into cost-cutting mode.” By HOWARD FINE Staff Reporter the recently renovated Santa Monica Place. El Segundo 5 Property? Member, So. Cal. Law Review With the exception of 3,500 square feet of • Assume $2,300,000 Loan Manhattan Beach claims the trustees are not good stewards; they represents the trustees, called it one of the most the $400 million trust’s annual income. “I don’t know whether he’s doing it or his IGH-END residential real estate broker- restaurant space on the ground floor, the Class • 5 Unit Strip Center Built 5 miles Hermosa Beach 3 Lora Pankey Eade, #01360731, California Real Estate Broker; 179 Niblick Road #225 Paso Robles, CA agreed to pay a lender $12 million to settle a unpleasant battles he’s handled. Two years after Mark’s death, Herbalife mother is pulling puppet strings,” Klein said. “I 2 age Rodeo Realty Inc. is on a bold, A office building is completely leased. What’s ’06. High Visibility, High Redondo Beach Torrance Anaheim 93446;805-226-0450;Jerry Craig King, LPM8626806; 800-662-5464; J. P. King Auction Company, Inc., separate legal matter, which she believes was “I know of very little litigation that isn’t was sold after an unsuccessful attempt by recognize statements by Alex in documents that Enterprise Zones Traffi c Corner Carson LPM8648158 800-662-5464 too much. She claims the three trustees have a nasty to begin with,” he said. “But this is litiga- Suzan and other investors to buy the company. were statements made in the past by Suzan.” H countercyclical expansion drive in At a Glance RINGO H.W. CHIU/LABJ western Los Angeles, adding scores of agents, • Buy With Less Than Long financial stake of their own. They currently are tion that has been filled with wild and unsup- Now, none of the parties of the legal dispute Woods also expressed doubts. Zoned Out?: A worker at Huntingon Park’s Crown Poly, a maker of plastic grocery bags. 5 Beach William Dickerman � Enterprise zones were created to stimulate opening offices and moving its flagship Bever- 10% Down splitting between $700,000 and $1 million a ported charges.” has a stake in the company. But the trustees “I think it’s reasonable to conclude based REAL ESTATE Rancho Palos Huntington Santa Ana Call BUSINESS SERVICES Attorney at Law business investment and job creation in eco- ly Hills office to larger digs. Verdes LONG Beach year in fees from managing the estate. claim the failed deal is what spurred her to upon what he’s done since he turned 18 that Ohio, Texas and North Carolina. give local governments more autonomy to raise program to prevent abuse and free up a little George Bustamante ◆ 888-895-7535 ext 204 BEACH nomically distressed areas with defined borders. Last month, Rodeo Realty opened its first LEGEND HARBOR San Clemente Irvine Highest Professional Rating by Peers L.A. LAW GUIDE So far, the trustees have managed to hold Rags to riches begin her legal actions. That year, Suzan filed he’s still pretty much following the lead of “If these tax credits are removed, it creates money for enterprise zones or other economic more money for state coffers. LOS ANGELES � There are 42 enterprise zones in Califor- HARBOR Rosz Murray on to their positions, despite the sometimes The fortune at issue was amassed by a man the first of many petitions to remove the other people, as opposed to acting truly inde- a stumbling block to our continued growth development programs, thereby giving cities and In the meantime, companies in enterprise office on the Sunset Strip, in the 9200 Sunset more, GK Films, which is set to move in this LAW OFFICES OF DENNIS W. CHANG Office Costa Mesa 310-268-6666 BANKRUPTCY GENERAL BUSINESS nasty fight, though one resigned under pressure armed with only a ninth grade education. Mark trustees. The underlying theme of the petitions pendently,” he said. nia. Los Angeles County has eight (Antelope here in California,” said Chief Financial Offi- counties more leeway to create their own incen- zones are in limbo. Blvd. offices formerly occupied by rival spring, beat out two other prospective tenants. More than 20 years experience Valley, Compton, East Los Angeles, Harbor- Lawsuits of $100,000 or more. LITIGATION in 2006 as the custodian of a separate $40 mil- founded Herbalife in Los Angeles in 1980, has been that the trustees take a hostile position Rowen, Alex’s lawyer, shot down any cer Mike Torres. “We would look to expand tive programs. As part of that, Brown has pro- “We were really counting on that tax break,” Sotheby’s International Realty Affiliates “This is a significant milestone and signifies Residential Divorce, support, child custody FOR SALE 323.549.5225 lion account for Alex. Suzan had alleged he selling weight loss products out of the trunk of toward any requests for money. notions that his client isn’t his own man. Gateway, Hollywood, Long Beach, Pasadena our facilities in other states, which have been posed lowering the voter approval threshold for said Lorna Sacramento, controller for Vogue LLC, which moved to a nearby building. that the downtown Santa Monica office market If your business is in trouble, you and all domestic relations. WAREHOUSE/OFFICE made an improper investment. his car. By the time of his death, sales had She has alleged further improper behavior. “That’s been their mantra,” he said of the and Santa Clarita). offering us very similar tax credits.” local taxes and bond measures to fund economic Trimmings, an East L.A. manufacturer of belts, Rodeo Realty hopes to have 100 agents there is really recovering well,” said Chris Houge, a Commercial may be able to reorganize and Free Consultation / Payment Plans Law Offi ces of Mark Anchor Albert � • Owner/User Among the other ugly charges: Suzan tried reached nearly $1 billion a year. Although she lost her sexual harassment law- trustees. “We don’t take marching orders from Companies in enterprise zones or opening development programs from the current 67 per- handbags and other accessories and a licensee by midyear. principal with L.A. Realty Partners, which ext. 215 make it profi table. We handle Chapter 1055 W. 7th St., Suite 2800 Consistent business litigation victories • $1,950,000 to remove trustee and former Herbalife Chief He married Suzan, his third wife, in 1987. suit against Pair, she succeeded in removing Suzan. Alex is a grown young man now who is facilities there get a tax credit of up to Zone criticism cent to 55 percent. for City of Commerce-based Joe’s Jeans Inc. In March, Rodeo Realty is set to move out represented Realty Bancorp. Industrial DBA 7, Chapter 13, individual or business Los Angeles, CA 90017 Both defense and plaintiff representation • 2 parcels/3bldgs./divisible Executive Christopher Pair by claiming that he The two divorced in 1998. At the time of his Reynolds from the custodianship for an looking at analyzing things from his own perspec- $37,000 per year for each new hire of a local Critics have long argued that enterprise Since Brown’s proposal to kill enterprise Ten years ago, Vogue Trimmings moved of its headquarters at 266 N. Beverly Drive Woodland Hills developer Norman Kravetz, Chapter 11 cases. With your assistance, (213) 553-1122 / [email protected] Over 20 years’ experience at preemi- resident. The amount of each credit is based and head one block east to the 202 N. Canon who founded Realty Bancorp, constructed the Land sexually propositioned her, but she ultimately death, the two shared custody of Alex. After- allegedly inappropriate investment. In 2006, tive and in order to protect his own interests.” zones reward companies that would have zones is only that – it must be approved by from downtown L.A.’s garment district to East ◆ C. Holland/P. Sheekey/ we can save you thousands of dollars nent law fi rms on new-worker income; the credit is phased Drive building that was once home to the building in 2008 for $28 million. lost that case in California Supreme Court last ward, Alex spent all of his time with his moth- Reynolds resigned as custodian after a prelimi- He also was more optimistic that the legal expanded regardless; they found ammunition lawmakers as part of a budget package before Los Angeles in part to be within an enterprise J. Pickett in attorney fees which could make the Top credentials, experience and out after five years. William Morris GK Films was launched in 2007 by Graham FRANCHISE / I.P. year. Also last year, during a hearing regarding er in her Beverly Hills home. nary ruling by a judge suspending him for issues would not linger for years. He noted in a 2009 study from the liberal-leaning think it would go into effect – business leaders and zone. Sacramento said the company has hired (310) 478-7700 Fictitious Name Statement difference in returning to profi tability or reputation � Businesses in enterprise zones also can Agency. The new King, who produced or co-produced “Gangs of attorneys’ fees, she testified that she believed Upon Mark’s death, his wealth was trans- investing that money into an investment part- that a new judge, Mitchell Beckloff, took tank Public Policy Institute of California. It enterprise zone advocates last week launched a about five workers a year and has banked closing your doors. MOHAJERIAN INC Full contingency fee structure get sales tax credits on machinery purchases New York,” “The Aviator,” “Ali,” “The File No. (20110112038) Klein to be complicit in her ex-husband’s ferred into a trust overseen by Klein; Pair; and nership controlled by the trust. He remains a over the case in Los Angeles Superior Court said employment levels and income growth in campaign to convince the Legislature to pre- about $100,000 in hiring tax credits. The com- space is 13,000 square Franchising, litigation, buy/sell agree- of up to $20 million. Departed” and “Traffic.” The company’s cur- in appropriate cases death, which has been ruled by authorities to Jack Reynolds, who was Mark’s father (Mark trustee of the big trust. last year and has made it clear he wants to enterprise zones were roughly the same as in serve enterprise zones. pany had planned to expand its handbag work feet, more than double The consultation is free. If you’re in ments, trade secret unfair competition � Businesses in enterprise zones can carry the space of the cur- rent offices are on Fifth Street in Santa Monica. Millions of dollars in recoveries be the result of an accidental overdose of alco- took his mother’s surname). The trust is to be Despite some legal setbacks, Klein, the hurry things along. areas outside the zones. They say enterprise zones are one of the force this year. The following company is doing business as 1) Thrive on Beverly, 7427 trouble don’t wait until it becomes trademark lit forward net losses they incur in one year into GK Films was represented by Jeff Cowan www.lalitigationlawyers.com; hol and antidepressants. turned over to Alex when he turns 35. other trustee, dismisses Suzan’s charges as “I do think it’ll be resolved,” Rowen said. Also, it’s been alleged that some companies few tools that the state has to retain existing “If the enterprise zone program were ended, rent headquarters, irrevocable. Call me now. ADA Defense, Real Estate future years and receive state tax deductions which will allow the and Jessica Foldes, both in the West L.A. office Beverly Blvd, Los Angeles, CA 90036. 2) Thrive Decor, 302 S. Irving 213.687.1515 Repeated attempts to reach Suzan for com- Mark also put Reynolds in charge of a sep- unsubstantiated. “We have a new judge and Alex is a new play- have abused the enterprise zone program by businesses and attract business investment. we would probably hire fewer people than we Blvd, Los Angeles, CA 90020. This business is being conducted by Employment Defense on future earnings. company to add of Studley. Michael R. Totaro, JD, LL.M ment were unsuccessful. A call to Suzan arate custodianship, now estimated to be worth “I treat these actions to remove us as back- er in this circle.” � bringing in workers from outside an enterprise Taking away the program –and wiping out would have otherwise,” she said. “What’s Randy Esada Designs Inc. 302 S. Irving Blvd, Los Angeles CA 90020. 310 556 3800 The tax credits are applied to a company’s zone and falsely claiming they were local resi- existing tax credits – would send a bad signal more, there would be a penalty for us in the roughly 80 agents to Adams & Brooks, Inc. 800 541 2802 or 310 573 0276 state income tax payments. If the credits exceed the 130 already there. Yahoo Center Lease This statement was filed with the County Clerk of Los Angeles on [email protected] PERSONAL INJURY dents in order to claim tax credits. to executives. form of higher taxes.” LEASING GUIDE the income tax owed, the excess amount can be H.D. Palmer, Gov. Brown’s spokesman on Business leaders are most upset about the Syd Leibovitch, In another Santa Monica office deal, online January 20, 2011. Published on, 1-31-11, 2-7-11, 2-14-11, and Since 1932, Adams & Brooks has produced deliciously distinctive banked for use in future tax years. budget issues, said enterprise zones have created Outward bound? state taking away tax credits that companies Leibovitch Rodeo Realty founder game developer Riot Games has signed a five- 2-21-11. Notice - this fictitious business name statement expires on, FAMILY LAW FRAUD LAW OFFICES OF Sources: California Housing and Community Development little in the way of documented economic benefit. “If the state has a program that generates tax already have. and president, said he year lease for 47,000 square feet of space in the candy products. They are committed to creating differentiated Lending: Credit Unions Eye Commercial Real Estate Department; Business Journal research January 20, 2016. A new fictitious business name statement must be EMPLOYERS, SELF-INSURED RONALD M PAPELL “There’s been a body of research that sug- credits for companies and then the state says it “When the state goes back on its word, then also plans to open another branch in Brentwood Yahoo Center, a six-building complex owned products through proprietary manufacturing processes and quality MICHAEL KELLY FAMILY LAW later this year. It’s all part of a drive to turn the by Equity Office Properties that’s across from OFFICE OFFICE filed prior January 20, 2016, The filing of this statement does not itself EMPLOYERS, GOT FRAUD? AV RATED ATTORNEY WITH 30 YEARS ing in widespread borrower defaults. To officers of Lockheed, though, the timing bership, we wanted to also offer commercial gests that enterprise zones have not proven to will take those tax credits away, why should a nobody trusts state government, particularly packaging. The company sells to every class of trade in the Get Divorce and Family Law for Business Continued from page 1 authorize the use in this state of a fictitious business name in violation THE INSURANCE FRAUD EXPERTS, EXPERIENCE REPRESENTING INJURED Recently, there have been signs of a pos- feels right. real estate products,” said Oliver Kim, vice One company that may expand facilities create the benefits that proponents tout,” company even stay in California after this?” said the business community,” said David Fleming, firm into the top luxury home broker on L.A.’s the Water Garden. Professionals. Westside. Culver City-based Riot, which plans to confectionery industry, including wholesalers, distributors, mass of the rights of another under federal, state, or common law (see sec- a law fi rm specializing in fraudulent PARTIES IN SETTLEMENT AND TRIAL. sible rebound, including stabilizing office The Burbank credit union has not offered president of commercial real estate and loan outside California if enterprise zones are elimi- Palmer said. “What’s more, they generally end Armando Jamjian, a managing partner with the founding chairman of the Los Angeles County claims is the answer. Their expertise REPEATEDLY RECOGNIZED AS SOUTH- and a continued perception of risk, the return of vacancy rates in Los Angeles. But there are commercial real estate loans since 2006, around services for the credit union. During the down- nated is South Gate-based Glasswerks Inc., up shifting economic activity from one area of downtown L.A. accounting firm Rivera Business Federation and an attorney at down- Leibovitch said that rising sales volume of add 100 employees this year after the suc- merchandisers, jobbers, vendors, and retailers. tion 14400 ET SEQ, business and professional code). Our experience includes successfully Westside luxury homes is one reason for the cessful debut of its first online game, “League Bank Site - LA’s Premier Address includes identifying individuals who are ERN CALIFORNIA SUPER LAWYER. the county’s two biggest credit unions to the major concerns about the impending maturi- the time the overheated market reached its peak. turn, “we’ve mainly been concentrating on which makes glass for the construction indus- the state to another.” Jamjian & Dillard LLP and a board member of town L.A.’s Latham & Watkins LLP. BEL AIR - Full Service Law or Business Suites litigating against the major family law marketplace will likely encourage its competi- ties of a high volume of loans originated dur- In the subsequent crash, Lockheed, like consumer products – basically mortgage, Visa try. Glasswerks, which has hired dozens of The governor’s proposal to eliminate the the California Association of Enterprise Zones. “The governor is issuing the wrong mes- expansion. Many wealthy homeowners, stung of Legends,” was looking for larger space in Available Space: 3,200 sqft.+++ (signalized corner) fi rms in Los Angeles. or have committed fraud against your ALL CASES HANDLED Kevin Hoban Tempe Brooks Cindy Brooks John Brooks LOWERED Noticed. Get TO 750K Term Length: 3-10 years (negotiable) Rent ($/SF): offered at 4.25 tors to do the same. ing the boom. many lenders, sustained losses on loans made cards and auto loans.” workers in recent years to bring its South Gate enterprise zones is one part of a reform pack- Jamjian and other enterprise zone advocates sage at the wrong time,” Fleming said. We by years of recession, were finally forced to the west L.A. County technology corridor company, plus preparation of evidence CONFIDENTIALLY AND ON A sell, while foreign investment has increasingly that stretches from Santa Monica to Venice Planning Director Secretary-Treasurer Vice President President Every amenity. Free st. parking. Fwy adj. 20 mins to dntwn courts. Lease Type: Bank branch site Rate Type: NNN “As we’re seeing this stability set in now in Bert Ely, a bank analyst in Alexandria, Va., to commercial real estate borrowers. The The institution will offer both standard work force to 200, has an estimated $600,000 age he is trying to implement to help ease the are supporting legislation that will be intro- should promote enterprise zones and most cer- We prevail through fair negotiation or to dismiss civil actions, assisting the CONTINGENCY FEE BASIS poured into the area. and Playa Vista. Also - offi ce/retail from 3.50 Available: Immediately 2011, credit unions are feeling more comfort- noted that many banks have yet to return to institution, which has $2.9 billion in assets, commercial real estate loans and loans in accumulated enterprise zone tax credits. The state’s $25 billion budget deficit. duced this month in Sacramento that would tainly make sure Sacramento keeps its word on Moraga Dr. & 405 Fwy near Sunset. Starting at $695 mo. Contact: Arun Bhumitra, Armitra Properties litigation. District Attorney to criminally prosecute “We had our best year ever last year, both in “The Yahoo Center appealed to my client Fictitious Name Statement (310) 477-4775; EMAIL: able branching out or expanding the lines of commercial real estate, which should give has foreclosed on five commercial properties backed by the U.S. Small Business Adminis- company also has 135 workers at plants in Palmer said the governor instead wants to tighten some of the caps and controls on the existing tax write-offs.” Email: [email protected] Phone: (310) 994-7400 Noticed. 41 year fi rm, 33 attorneys & staff. all individuals involved, and obtaining the number of transactions and total sales vol- because of its campuslike layout and amenities [email protected] business that are available to them,” said credit unions pause. over the past two years. It had $40 million set tration, which can be used for commercial ADDRESS: 23211 Hawthorne Blvd., Torrance, CA Showcase your ad in the File No. (20101794081) Free consultation 310-393-0236. Restitution of money paid on the claim. ume,” Leibovitch said. for technology companies,” said Bruce Hoffman, Originally 15 Million - property can now be purchased for 9.5 Million! Daniel Penrod, an analyst for the California “It actually gets kind of scary if the credit aside at the end of last quarter to cover all property purchases. 310-471-3000 • Chuck ext. 230 or Kathy ext. 211 CFLI.com – admin@cfl i.com Encino, California: (818) 905-8696 VISIT OUR INFORMATIONAL But the main reason, he said, is an abun- senior vice president with UGL Services, which BUSINESS MARKETPLACE Credit Union League, an industry trade group. unions jump in where the banks fear to go,” loan losses. Kim said Lockheed is taking precautions, Weekend & evening appts, avail. www.theinsurancefraudexperts.com WEBSITE: RMPLAW.COM While credit unions have not historically he said. Many credit unions that offered commer- though. For instance, the institution will only dant supply of agents, either cut by competi- represented Riot. “This is really emerging as section of the Los Angeles Showcase your ad in the BUSINESS The following company is doing business as “Unleashed” by Petco tors or eager to work for a smaller indepen- ground zero for the Westside technology center.” #5109, 13411 Washington Blvd, Culver City, CA 90292-5658. This been major players in commercial real estate cial real estate loans stopped during the reces- make commercial real estate loans up to $2 Loans: Some Analysts See Opportunity in Lending Market financing, a number of larger institutions have Back in the game sion, either to tend to losses in their portfolio million, down significantly from the prereces- dent brokerage. Yahoo Center was built in two phases: three Business Journal MARKETPLACE section of the business is being conducted by Petco Animal Supplies Stores, Inc, 9125 “My company’s expansion is the result of buildings in the early 1980s and three in the offered loans of as much as a few million dol- It’s unclear how many of the county’s or because a decline in overall lending meant sion boom times when the loans sometimes are coming out in the market and looking for ulators have discouraged many community obtain bank financing despite signs that the Rehco Road, San Diego, CA, 92121-2270. This statement was filed with Continued from page 34 other companies imploding,” he said. early 1990s. Yahoo Inc. moved in during UP TO 6 MONTHS FREE RENT! Los Angeles Business Journal lars to acquire office buildings, retail stores, roughly 170 credit unions offer commercial their assets were shrinking, which pushed them topped $10 million. What’s more, it will no deals, and the deals are out there,” he said. banks, which tend to have higher commercial local market is stabilizing. The county office Leibovitch’s goal is to make Rodeo Realty the 2005, becoming the largest tenant and thereby Showcase your property in the the County Clerk of Los Angeles on December 6, 2010, Published on, apartment buildings and other large projects – real estate loans, but only a dozen or so have up against a regulatory cap on commercial longer offer loans outside Southern California, Comprehensive data on commercial real property loan concentrations, from making market vacancy rate held steady at 17 percent next John Douglas or Fred Sands, two local resi- lending its name to the complex. 1-17-11, 1-24-11, 1-31-11 and 2-7-11. Notice - this fictitious busi- though they tend to stay away from complex sufficient size to do so in any real volume. lending. According to federal guidelines, credit as it had years ago. ing last summer. Paul Cleary, the credit estate lending by credit unions are hard to many new commercial real estate loans, over the last half of last year, stopping a slide ADDRESS: 15747 Woodruff Avenue, Bellfl ower, CA LEASING GUIDE section of the Need a legal specialist? dential real estate brokerages that dominated the The transaction value of the lease was not ness name statement expires on, December 6, 2015. A new fictitious or unusual properties. John Bretthauer, senior vice president of unions’ commercial loans cannot exceed 12.25 “This time around we’re doing it only in union’s vice president of business lending, said come by, but analyst Penrod noted that com- according to experts familiar with banks’ inter- and giving observers hope that the market has Westside and parts of the San Fernando Valley disclosed. Available Space: 2000-4000 s.f. Available: Immediately Los Angeles Business Journal. business name statement must be filed prior December 6, 2015. The However, some analysts are concerned that commercial lending for California Credit percent of total assets. our backyard (and) we’re going to be at a the institution did not have significant prob- mercial loans – an umbrella category that actions with regulators. reached bottom. until they were bought out more than a decade ago. Equity Office was represented by Houge of Term Length: 1-5 years Rent ($/SF): Starting at $1.25 psf filing of this statement does not itself authorize the use in this state of To advertise your boutique law fi rm with highly credit unions, despite a conservative reputa- Union in Glendale, said the number of active Kinecta, which has $3.5 billion in assets, much slower pace than before,” he said. “With lems with the loans during the recession but includes commercial real estate – held steady “A lot of banks, particularly out here in the “Right now, for Lockheed to come into this Rent Type: Gross Contact: Scott Gerrity, ACP Management tion, may be taking on more risk than is pru- lenders is much smaller than it was prior to the cited the cap as a major factor why it stopped any product you offer, you have to have proper decided to play it safe nevertheless. at $2.1 billion among all county credit unions Western states, have a lot of exposure to com- market at this time, I think it’s a very smart L.A. Realty, who also brokered the GK Films deal a fictitious business name in violation of the rights of another under Santa Monica Deal on behalf of landlord Realty Bancorp. Houge said Email: [email protected] Phone: (562) 925-8491 Call Rosz Murray • 323.549.5225 ext. 215 Call Rosz Murray specialized law practices in the L.A. Law Guide, dent by venturing into a commercial property recession. His institution stopped making com- commercial real estate lending. But with the underwriting guidelines.” Since returning to the market, Cleary said during the first three quarters of last year. Dur- mercial real estate,” said Aaron Deer, a bank strategic plan because they’re able to get into a Call Rosz Murray federal, state, or common law (see section 14400 ET SEQ, business Pierpoint Pacific, the only office building Equity Office would not comment on the deal. contact Rosz Murray at 323.549.5225 market that they believe remains unsettled. mercial real estate loans in 2009 and has no economy seemingly on an upswing, Lockheed Kinecta, too, tightened its underwriting he has noticed a clear desire in the market for ing that same stretch, equivalent loans at local analyst with New York’s Sandler O’Neill & market where there is a demand for borrow- constructed in Santa Monica in the last 10 and professional code). The market is still suffering from a combina- plans to resume. officers said creditworthy borrowers are when it resumed commercial real estate lend- such loans that is not being met by traditional banks fell 6 percent, according to data from the Partners LP. “The regulators are being more ing,” said commercial real estate broker Linda years, is finally about to be filled. Howard Fine can be reached at hfine@labusi- Member FDIC | 1110 | 1-877-4-CBBANK | www.cbbank.com 323.549.5225 323.549.5225 tion of high unemployment, falling property “Most of the credit union industry is shrink- becoming more abundant. commercial property lenders. Federal Deposit Insurance Corp. attentive to those ratios.” Lee, senior managing director at the Glendale Owner Realty Bancorp Equities nessjournal.com or at (323) 549-5225, ext. 227. values and tightened lending standards, result- ing their assets,” Bretthauer said. “In order to give a full breadth to our mem- Please see LOANS page 35 “Credit unions over the last couple months Despite the stabilization of the market, reg- Indeed, brokers say it is still difficult to office of Charles Dunn Co.

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36 LOS ANGELES BUSINESS JOURNAL FEBRUARY 7, 2011 FEBRUARY 7, 2011 INDEX LOS ANGELES BUSINESS JOURNAL 37 FEBRUARY 7, 2011 COMMENTARY LOS ANGELES BUSINESS JOURNAL 39 40 LOS ANGELES BUSINESS JOURNAL FEBRUARY 7, 2011

38 LOS ANGELES BUSINESS JOURNAL COMMENTARY FEBRUARY 7, 2011 ‘Taylor’s very ‘It sounds horrible, ‘My parents business minded but we knew escaped Poland LOS ANGELES Hidden Drive Behind Parking Measure and many people the money was just as World War BUSINESS JOURNAL ® don’t know it.’ coming and it did.’ II began. My father What’s the Deal, Governor? 5700 WILSHIRE BLVD., SUITE 170, Medical property developers in LOS ANGELES, CA 90036 RUSSELL ARMSTRONG, JIM MORRIS, saw what was ET’S say you and I make a deal. If you agree state on its offer moved their businesses, not their Now, you could debate whether enterprise (323) 549-5225 FAX 549-5255 Beverly Hills fuel 2P campaign for Crescent Financial JCL Barricade Co., coming.’ to move into my not-so-great neighborhood families, into not-so-great neighborhoods that zones, net-net, are beneficial or not. If you had that www.labusinessjournal.com and be a good citizen, I’ll give you some- make up L.A. County’s eight enterprise zones. The debate and concluded that they didn’t do much benefit of their buildings’ tenants. Partners Inc., on company’s JOE CZYZYK, L PUBLISHER & CEO on reality TV star wife, credit card debt, thing in return. For example, I’ll pay all your utility businesses don’t get free utilities, they get state tax good or that there are too many abuses or they oth- Mercury Air Group, bills for 15 years. credits for 5 years in return for hiring erwise are unjustified, then fine, let’s have an MATTHEW A. TOLEDO By JOHN MIRISCH PAGE 3 PAGE 12 [email protected] | ext. 207 PAGE 14 Now, let’s say you decide to take people from the distressed neighbor- orderly wind-down of them. a chance and you move your family. hoods. And it’s not me who wants to But that’s not the issue here. The issue here: A T a time when people are justifiably questioning the Over time, you and the other folks renege on the deal, it’s Gov. Jerry deal’s a deal. Companies made long-term commit- EDITOR extent of services government can afford to provide, there CHARLES CRUMPLEY who took me up on my deal work to Brown. ments in good faith to hold up their end of the deal, [email protected] | ext. 208 A are some in Beverly Hills saying, “More entitlements!” improve your new neighborhood, to What’s the same as in the exam- and the state should not just kill the deal in mid- DESIGN DIRECTOR Are these people big-government Democrats who think that more make something of it. ple? The part about the backstabbing. stream. ROBERT LANDRY government is the solution to everything? Good question ... [email protected] | ext. 243 PEOPLE D Hughes, Mark ...... 1/34 McCarthy, Robin ...... 38 S But a few years later, I show up Brown wants to kill enterprise (By the way, isn’t this the same state that says While Los Angeles Mayor Antonio Villaraigosa proclaims, Deer, Aaron ...... 1/34 McLaughlin, James ...... 8 Sambol, David ...... 10 MANAGING EDITOR and say, “Ummm, you know, this zones because they’re costing the state we can’t undo the extremely generous pensions to LAURENCE DARMIENTO “The era of free (government-subsidized) parking in L.A. is Doud, Ernest ...... 12 Sanfield, Phillip ...... 1/36 [email protected] | ext. 200 J Metchek, Ilse ...... 6 arrangement is costing me money. money in his view. And he doesn’t state workers because a deal’s a deal?) over,” some medical developers in Beverly Hills are actually Schey, Peter ...... 6 DEPUTY MANAGING EDITOR A Jamjian, Armando ...... 38 Miles, Ken ...... 38 Deal’s off.” simply want to phase them out – that The damage from this goes beyond that sus- working to expand it. Schmidt, Karl A...... 38 Now you could say, “Wait right is, stop accepting new participants tained by the businesses in enterprise zones. This STEVE SILKIN Seriously. Allen, Bill ...... 39 E Jamjian, Armando ...... 1/35 Mirisch, John ...... 39 COMMENT [email protected] | ext. 229 Schneider, Kurt ...... 3 there. You’re backstabbing me. We while continuing to pay the present does damage to the already strained relationship Through a slick, opportunistic and deceptive campaign, Armstrong, Russell ...... 3 Edwards, Jim ...... 6 Miyares, Urban ...... 5 NEWSDESK EDITOR Schwartz, Lee ...... 38 made a deal, and a deal should be a participants. No, he wants to stop pay- between businesses and the state government. TOM HICKS these special interests are spending hundreds of thousands of Armstrong, Taylor ...... 3 Ely, Bert ...... 1/34 [email protected] | ext. 223 K Moran, Frederick ...... 5 Sherman, Jill ...... 3 deal.” CHARLES ing the present participants, too – those In the article on page 1, a local accountant dollars to try to get the residents of Beverly Hills to pass a ballot Kennedy, John ...... 3 Morris, Jim ...... 12 Simonian, Peggy ...... 5 You could – you should – argue CRUMPLEY who moved into enterprise zones in named Armando Jamjian, who’s also on the board REPORTERS measure, Measure 2P, which would expand municipally subsi- PHOTOS BY RINGO H.W. CHIU/LABJ RICHARD CLOUGH Working for Scale: At left, a fishing boat at Fish Harbor at Port of Los Angeles’ Terminal Island. A catch is unloaded by workers at Tri-Marine Fish Co. B F Kim, Joanne ...... 7 Morris, Susan ...... 12 Soon-Shiong, Patrick ...... 10 that you’re the one who took a good faith, are still there and were of the California Association of Enterprise Zones, [email protected] | ext. 251 dized free parking in the city. Babek, Rob ...... 1/35 Fantasia, Michael ...... 12 Kim, Oliver ...... 1/34 chance and moved your family. You and the others counting on the state to hold up its part of the deal. asked: “If the state has a program that generates tax DEBORAH CROWE Why? Mozilo, Angelo ...... 10 [email protected] | ext. 232 Farnworth, David ...... 5 King, Graham ...... 29 who accepted the deal are the ones who worked to It gets even worse. As you can see in the article credits for companies and then the state says it will The sponsors are medical building landlords. Their buildings Beckloff, Mitchell ...... 1/34 T HOWARD FINE Feiman, Daniel ...... 38 Klein, Conrad Lee ...... 1/34 improve my iffy neighborhood. The least you on page 1 of this issue, a number of companies in take those tax credits away, why should a company [email protected] | ext. 227 are underparked and they use free city parking for their tenants’ Bertelli, Bob ...... 1/36 Thielman, Brent ...... 8 PHOTO BY THOMAS WASPER Fleming, David ...... 1/35 Knatz, Geraldine ...... 1/36 P should get is your free utilities for the rest of the enterprise zones have banked unused tax credits even stay in California after this?” DAVID HALDANE patients, thereby helping to justify some of the highest triple-net Fishing: Port Fishermen Fear the End of the Line Beutner, Austin ...... 10 Torres, Mike ...... 1/35 [email protected] | ext. 225 Pulling In: Bedford Drive parking garage in Beverly Hills. Foldes, Jessica ...... 29 Kravetz, Norman ...... 29 Painter, Gary ...... 25 15-year term. That was the deal, after all. because they’ve sustained some tough years. They Good question. Governor, have you got an medical rents around (in fact, one of their tenants recently com- Bretthauer, John ...... 1/34 This is a made-up example, of course. But it were counting on using those tax credits in future answer to that? ALEXA HYLAND plained in these pages about perceived gouging). Brown, Jerry ...... 1/35, 38 Francis, Wade ...... 7 Kuperman, Leon ...... 5 Pair, Christopher ...... 1/34 [email protected] | ext. 235 industry moved offshore in the 1970s and ’80s, les is under pressure to make more profitable V basically is what’s happening for real with enter- years, but Brown wants to erase those unused cred- ALFRED LEE Perhaps they’ll try to tell you that their “generosity” in fund- Continued from page 1 Browne, Cathy ...... 1/35 Palmer, H.D...... 1/35 [email protected] | ext. 221 with the last cannery closing in 2001. Terminal Position? use of its waterfront land. Vidal, Gore ...... 39 prise zones in the state. its, too. In other words, Brown not only wants to Charles Crumpley is editor of the ing the measure has nothing to do with their triple-net rents. It’s offers is not enough, but it seems there are those who truly to balance the Parking Enterprise Fund without being hand- Yet the fishing continues. Today, marine The port’s internal planning document sug- G L Pedder, Lindsay ...... 3 Now, what’s happening for real is different go back on the deal today, he wants to take back Business Journal. He can be reached at NATALIE JARVEY all about the retailers, they’ll tell you. believe that nothing is too expensive for the public’s money. cuffed by unfunded mandates pushed by special interests. Historic Fish Harbor is nestled into Villaraigosa, Antonio ...... 10, 39 [email protected] | ext. 230 GK Films ...... 29 LaSalle, Mike ...... 3 other trade-related industries, the Port of Los animals regularly offloaded in the harbor Terminal Island, where a new container gests possible different uses for Terminal C Penrod, Daniel ...... 1/34 from the example. Californians who took up the the benefits from past years. [email protected]. JOEL RUSSELL That would be sheer nonsense. Bedford Drive is not Rodeo Government-subsidized parking for medical offices makes Ultimately, if the measure passes, it will be bad for business. It Romanoff Floors used the Plum Card Vuoso, Anthony ...... 1/36 [email protected] | ext. 237 Angeles is about to embark on a Terminal include albacore, black cod, halibut, crab, lob- depot could be located. Island and Fish Harbor. Among its observa- Campos, David ...... 12 Lee, Linda ...... 1/34 Drive. Bedford has some retail, but is mainly home to a large no sense. On the other hand, what does make sense would be will make it more difficult for the city to perform much needed Island revitalization project that could displace ster, prawn, shrimp, squid, swordfish and tions are that the area “provides the greatest Leibovitch, Syd ...... 29 number of doctors’ offices, some of which were ridiculously enti- for the city to make up for some of the mistakes of the past with deferred maintenance on city lots. It will likely make it impossible for Chadima, Steve ...... 3 H CHIEF EDITORIAL PHOTOGRAPHER what remains of the historic fishing operation. shark. The canneries have been replaced by a opportunity … to expand cargo handling facili- Levin, Michael ...... 8 R W � LABJ FORUM RINGO H.W. CHIU tled years ago with little or no parking requirement. The doctors an ordinance requiring medical office buildings to provide vali- the city to build lots in underserved areas and it will hamper develop- Charney, Dov ...... 6 Harris, Kamala ...... 10 [email protected] | ext. 256 to convert miles of shag carpeting into “We are now handcuffed. This is the last handful of small fish processing plants includ- ties because it is located furthest away from Lynton, Michael ...... 10 Reynolds, Jack ...... 1/34 Waldorf,Greg ...... 10 already enjoy the benefits of an antiquated and inequitable busi- dated parking for their patients. ment by stopping the creation of in-lieu parking programs that would 110 Chen, Heng ...... 7 Hatcher, David ...... 5 RESEARCH DIRECTOR stand for fishermen,” said Anthony Vuoso, ing Tri-Marine and its neighbor, Western Fish any residential areas.” More specifically, it Riordan, Richard ...... 14/16 Woods, Edward ...... 1/34 DAVID NUSBAUM ness tax system that has them paying less than almost everybody By combining the worst attributes of ballot-box budgeting serve small businesses in these underdeveloped areas. In fact, to stop said the port should “consolidate” and “mod- Citro, Ryan ...... 3 Herzik, Terry ...... 1/36 [email protected] | ext. 236 executive vice president of Tri-Marine Fish Co., a few hundred yards down the dock. They Roski, Ed Jr...... 10 Wall Street is enjoying a boom period while high unemployment What is the main else. What’s more, this measure would mandate two hours of free and initiative abuse, Measure 2P (which was already declared the drain on the city’s general fund, which backfills the shortfall in Cleary, Paul ...... 1/34 Hoffman, Bruce ...... 29 M EDITORIAL ASSISTANT Co., which ships about 300 tons of frozen sar- don’t can the fish, but each one processes and Vincent ernize” commercial fish processing facilities continues to plague Main Street, particularly in California. reason for the parking at the city’s Bedford lot (while the sponsors charge close unconstitutional by a trial court and is tied up in litigation) the Parking Enterprise Fund, Measure 2P could ultimately force Bev- better customer service. Hire JONATHAN POLAKOFF Cowan, Jeff ...... 29 Houge, Chris ...... 29 Mangiofico, Gary ...... 39 Rowen, Eric ...... 1/34 Y dines, mackerel, squid, bonito and tuna world- markets the catch of boats it contracts. Thomas and, if necessary, put them in other locations. So the Business Journal asks: jobless recovery? [email protected] | ext. 239 to $8 an hour at their lots on the same street), but not at the Mon- would bind the hands of future councils and effectively priori- erly Hills in the direction of Los Angeles – to sell, lease out or shut wide every day. Additionally, dozens of independent fisher- Bridge Czyzyk, Joe ...... 14/16 Hughes, Alex ...... 1/34 Marlen, James ...... 8 Rudinica, Michael ...... 4 Yun, Lawrence ...... 25 tage lot, which is in the heart of Beverly Hills’s commercial and tize free parking – estimated to cost the city $1.3 million per down some lots. Talk about killing the goose that laid the golden egg. 47 One of only four processors still at the port, men – many of them immigrants from Vietnam Finding new home VICE PRESIDENT OF ADVERTISING shopping district (and where the sponsors own no buildings). year – over essential city functions such as police, fire, schools Letting special interests prevail is bad for the business com- Power? JOSH SCHIMMELS Doug Romanoff , owner of Romanoff Floor Covering, was one of the fi rst owners to Tri-Marine is on the verge of signing a five-year – began keeping their boats at the slips in Fish Though the document mentioned no specific [email protected] | ext. 218 and senior services. munity at large. Perhaps this realization is just one of the rea- lease with the port. But Vuoso is far from pleased. Harbor. Often living aboard the craft and stay- locations, port officials said that one potential ASSOCIATE SALES MANAGER Staying competitive? It could also encourage other special interest groups to try to sons that the Beverly Hills Chamber of Commerce voted to Port of Los Angeles � DARRIN SENNOTT Tri-Marine had hoped to sign a 20-year ing at sea for days at a time, the fishermen sell area for fish processing might be the now-aban- LEE SCHWARTZ Other jobs would flow from construction; it’s a job [email protected] | ext. 220 The sponsors suggest Beverly Hills needs free parking to buy elections with appealing – if hypocritical and fiscally irre- actively oppose the initiative. get a Plum Card from American Express OPEN. Doug used the Card’s fl exible trade � lease. That would give it the stability needed to directly to ethnic restaurants or brokers whatev- doned site of the old Southwest Marine shipyard Principal DANIEL FEIMAN multiplier and there are a lot of construction-related ADVERTISING ACCOUNT remain competitive with Westfield Century City, the Grove, the sponsible – grabs motivated by the same brazen “It’s all about And for those of us who feel that there should be limitations expand its 40,000-square-foot dockside facility er they catch: sea urchins, sea cucumbers and 5TH at the island’s southwest corner. Last week, the Cereplast Inc...... 4 Harlem Globetrotters ...... 3 Mattel Inc...... 10 Studley Inc...... 29 Schwartz Profitability Group Managing Director industries that are idle. The other cause is the slow MANAGERS Beverly Center, etc. Just how many of those complexes house me” attitude. placed on government, it seems that the measure’s sponsors are terms to make his company’s customer service Boom without hurting his bottom line. TERMINAL WAY COMPANIES, MICHELLE GIUNTA with a $2 million cold-storage warehouse. But hagfish – commonly known as “slime eel” – Los Angeles City Council sustained a decision Charles Dunn Co...... 1/34 Health Net Inc...... 10 Medtronic Inc...... 3 When companies have to let people go, they Build It Backwards unwinding of banks’ credit problems, which inhibit medical offices? Just how much of that free parking is paid for Ironically, while taking measures to try to shore up the hem- intent upon giving us more reasons why there also should be lim- ASSOCIATIONS, ETC. Suzan Hughes Enterprises ...... 1/34 [email protected] | ext. 214 those plans are no longer financially feasible seafood that previously had little local appeal. 9TH FISH by the Harbor Commission denying a Long City National Corp...... 7 Healthcare of Today Inc...... 4 Mercury Air Group ...... 14/16 find a way to do the same with less and remove the Many companies are not sure yet whether this is a some financial institutions from normal levels of MICHAEL KOSASKY by the municipalities? The answer, of course: none. orrhaging Parking Enterprise Fund, the Beverly Hills City itations placed on business. With apologies to Gore Vidal, Mea- since the port has refused the 20-year lease. “The fishing community is the backbone of HARBOR Beach company’s bid to build a shipyard there. Colony Capital LLC ...... 10 Herbalife Ltd...... 1/34 waste. Now, as the economy begins a renewal, recovery or not. They’re thinking, “Why hire just to support for business expansion and new ventures. [email protected] | ext. 253 Clearly, Beverly Hills businesses, including the proponents, Council has actually managed to expand free parking. Howev- sure 2P has given both initiative abuse and chutzpah a bad name. He purchased football fi elds of carpeting, pads and fl ooring on his Card. And with The fishing operations, port spokesman T BILL MOIR “Our growth has been capped,” he said. the area’s culture,” said Dianne Pleschner- SAN Countrywide Financial Corp...... 10 HomeData Corp...... 25 there’s no need to hire back those that were let go. fire?” Most companies are waiting to pay their payable [email protected] | ext. 216 would be free to set up assessment districts or business er, the city, which according to the Business Journal already is Main Channel N Tetra Tech Inc...... 10 About 18 months ago, the port issued a Steele, executive director of the California S. HARBOR BLVD. Phillip Sanfield said, “are part of the history A Crescent Financial Partners Inc...... 3 The unemployment rate will remain higher during until they collect their receivables, so the overall flow � KEN MILES improvement districts to provide free parking if what the city extremely generous with free parking, needs to have the ability John Mirisch is a Beverly Hills City Council member. the savings from the 1.5% early pay discount, Doug expanded his customer service PEDRO Nara Bancorp Inc...... 7 ROSZ MURRAY planning document suggesting possible future Wetfish Producers Association, a non-profit and fabric of the port. We want them there. It’s Accel Partners ...... 10 Crown Poly Inc...... 1/35 THQ Inc...... 10 this recovery than ever before. of cash in the economy continues to be slow. Managing Partner [email protected] | ext. 215 National Association of Realtors ...... 25 uses for Terminal Island, including Fish Har- organization in Buelton representing fishermen. S. SEASIDE just a matter of finding them a home in a way Activist Investor ...... 8 I Tri-Marine Fish Co...... 1/36 NSBN LLP SOLOMON ORTASSE 19TH AVE. Idealab ...... 3 NSBN LLP ...... 38 [email protected] | ext. 252 bor. Among its recommendations were moving In 2009, she said, Fish Harbor processors paid that’s strategic.” Aecom Technology Corp...... 4 � ROBIN McCARTHY � KARL A. SCHMIDT In the long run, employers will have no choice operations by 3 employees. How can the power of the Plum Card help your business? 22ND SIGNAL D International Rectifier Corp...... 10 JIM SLATER the processors and boats to make way for a fisherman more than $13 million for their catch, Within the next few weeks, the port will AEG ...... 10 Executive Director Partner but to hire to meet demand after stretching their [email protected] | ext. 209 D.A. Davidson & Co...... 8 U container terminal. but, adjusted for inflation, that was only a fraction start a six- to eight-month planning process American Apparel Inc...... 6 O Women at Work Parker Milliken Clark O’Hara & Samuelian current work forces to the limit, but this job growth Disabled Businesspersons Association . . .5 U.S. Small SPECIAL EVENTS/ Investing in Education Pays Dividends of what they were paying at the harbor’s peak. West Channel that will include a series of public hearings on American Premier Bank ...... 10 J OC Marathon ...... 12 ADVERTISING COORDINATOR However, port officials are quick to point Doud Hausner & Associates ...... 12 Business Administration ...... 1/34 Employers are hiring slowly due to anxiety One ankle weight on the job market is the will not be at a level we have been accustomed to. out that no decisions have been made and they Terminal Island’s future. The idea is to adopt a Ameron International Corp...... 8, 10 JCL Barricade Co...... 12 about the future of the economy. More people are enduring slack in construction and development. Employers are probably going to hire 80 percent of MARISSA DE LA CRUZ By GARY MANGIOFICO and BILL ALLEN dropouts are also less likely to spend on home and vehicle pur- teachers and give them the resources and tools they need. UberMedia Inc...... 3 [email protected] | ext. 213 could further extend Tri-Marine’s lease. Even Wariness on the water plan that the port can begin implementing Avery Dennison Corp...... 10 Joe's Jeans Inc...... 1/35 being hired in part-time, nonbenefit positions to chases, and they support fewer local businesses. They contribute • Improve access and increase funding for early childhood P UGL Equis Corp...... 29 PRODUCTION ARTISTS if it and the other fish operations were forced Terry Herzik has witnessed many of the within three years. E save the employers expense. Part-time employees ATA recently released by the California Department of on average about $60,000 less per person in taxes to state and education. Research has shown that individuals who receive a Parker Milliken Clark Unicon Financial Services Inc...... 7 SALLY FOSTER to move, officials promise a new home would changes at the harbor. “I’ve encouraged the fishing industry to be eBay Inc...... 5 are also easier to layoff. So it’s taking employees [email protected] | ext. 212 Education reports that the high school dropout rate in local governments over a lifetime according to the alliance. quality early childhood education are more likely to become 1.5% EARLY PAY DISCOUNT or DEFER PAY OPTION

S. PACIFIC AVE. B 1/2 mile K O’Hara & Samuelian ...... 38 United Air Lines Inc...... 14/16 be found for them elsewhere in the port. The 64-year-old fisherman has been captain part of the planning process,” Knatz said. “We Barington Capital Group ...... 8 eHarmony.com Inc...... 10 longer to find full-time jobs with benefits. PATTY TSAI-CHU Los Angeles County rose to 24.3 percent for 2008-09, up With the dropout rates being so high, and growing, we are productive, contributing citizens and less likely to lead a life Kinecta Federal Credit Union ...... 1/34 Physician Hospital System ...... 4 USC Lusk Center for Real Estate ...... 25 [email protected] | ext. 242 D of the 34-foot Sun Star for 35 years. For at don’t want to discourage coastal fishing.” El Al Israel Airlines Ltd...... 14/16 plagued by violence and crime. Starting children off in the right “We want to provide more space at other BeautyTicket.com ...... 3 Knobbe Martens Olson & Bear LLP . . . . .4 Port of Los Angeles ...... 1/36, 10 from 21 percent in 2007-08. In some of our county’s high essentially giving up on an entire generation of young people. - - - SAN PEDRO Electricite de France ...... 4 CIRCULATION DIRECTOR APPLY AT 1 866 977 PLUM or OPEN.COM/PLUM locations,” said port Executive Director Geral- least 15 of them, he has been fishing out of People in the fishing industry, however, are Benchmark Co. LLC ...... 5 ProMax Systems Inc...... 4 schools, six of 10 students drop out. According to the Alliance for By doing so, we have an economic, ethical and equity crisis on direction is crucial to successful educational outcomes through- Equity Office Properties LLC ...... 29 MICHAEL LEVINE dine Knatz. “We’ll be working with the fisher- Fish Harbor, where he makes twice-weekly BAY skeptical. Bidz.com Inc...... 5 Public Policy Institute of California . . . .1/35 V [email protected] | ext. 247 Excellent Education, more than 70,000 young people dropped out our hands. So what can we do? out their K-12 experience. men and processors.” trips to the outer Channel Islands for sea Relocating operations, they said, would be BP pl ...... 10 Ernst & Young LLP ...... 3 L Vitality Inc...... 10 Los Angeles Business Journal Poll of high school in the Los Angeles-Long Beach metropolitan area First, we must admit we have a serious crisis and get • Prepare students to succeed in higher education programs L.A. Realty Partners ...... 29 CUSTOMER SERVICE urchins and sea cucumber. cost of maintenance, and especially fuel, rises. exceedingly difficult, especially for a company Breckenridge Insurance Vogue Trimmings Inc...... 1/35 What is the main reason for the jobless LE MILLHAUSER in 2008. The alliance maintains that cutting this number in half involved. In Los Angeles County, a growing grassroots move- as well as in the workplace. Having a solid K-12 education Latham & Watkins LLP ...... 1/35 R [email protected] | ext. 245 Colorful history The animals are hard to get. He has to anchor “The demand has decreased so the main like Tri-Marine that has invested millions of Services Inc...... 4 F recovery? would result in $575 million in additional earnings in an average ment is taking hold around a 52-point plan for economic devel- includes expanding the number of arts, language, technical and Lion Capital LLP ...... 6 RBF Consulting ...... 4 ZAINABU BRYANT Still, the fishermen and processors are wary the boat, use an air compressor and diving gear, market now is domestic,” he said. dollars in infrastructure. Browne Woods George LLP ...... 1/34 Federal Deposit Insurance Corp. . .1/34, 10 year for a single class of new graduates in Los Angeles. opment to make our communities healthier, more prosperous general education offerings. Students must be both college and Lockheed Federal Credit Union ...... 1/34 Realty Bancorp Equities ...... 29 W Employers have Employers are [email protected] | ext. 244 of the port’s intentions, especially given the and descend to the ocean bottom to harvest them Still, Herzik would like to stay at Fish Har- “It takes many years to develop a plant, Build It Backwards ...... 38 Film Fresh Inc...... 4 learned to get by unsure of future tax The numbers associated with not graduating from high school and sustainable places to live and productively work. career ready. Los Angeles City Council ...... 10 Recentis Intermediaries LLC ...... 4 Western Fish Co...... 1/36 long, slow decline of a cannery row that once by hand. However, with Asian demand for them bor for another five years before retiring to his including going through the permitting First General Bank ...... 10 with fewer workers. rates, health care CONTROLLER speak for themselves. The unemployment rate for high school This plan was developed with input from more than 1,070 • We must ensure that our young people are being educated. Los Angeles County Riot Games Inc...... 29 William Morris costs, etc. NANCY SCHWARTZ comprised 18 plants and provided jobs for high, he has made a living doing it. home in Brea with his wife. process,” Pleschner-Steele said. “How do you C [email protected] | ext. 202 dropouts is more than 300 percent greater than that for students stakeholder organizations. The first goal is to prepare an educat- Make no mistake, it is in all our best interests. Here are three Business Federation ...... 1/35 Rivera, Jamjian & Dillard LLP ...... 1/35 Endeavor Entertainment LLC ...... 29 17,000 workers and 2,000 fishermen. “They are definitely an acquired taste,” “This is valuable real estate that I hope we re-create that somewhere else?” California Association of with higher education. The alliance reported that a high school ed work force, with its first objective being to ensure successful facts you can take to the bank: The Labor Department estimates G Los Angeles County Rodeo Realty Inc...... 29 Wilshire Bancorp Inc...... 7 ACCOUNTS RECEIVABLE Fish Harbor was started more than a centu- says Herzik, whose main customers are small don’t lose. But I think ultimately it will disap- The prevailing mood down on the docks is Enterprise Zones ...... 1/35, 38 SPECIALIST dropout earns, on average, about $260,000 less than a high school education outcomes at every level so that all students, at a mini- 90 percent of new high-growth, high-wage jobs will require Gambol Industry Inc...... 10 Economic Development Corp...... 39 Women at Work ...... 38 ry ago by Japanese immigrants who caught mom-and-pop processors or brokers who sell pear,” he said, sitting on the deck of his boat. more of resignation than anything else. How- California Credit Union ...... 1/34 PATRICIA A. BENSON graduate over his or her life. According to the Center for Labor mum, achieve grade-level proficiency and graduate. some level of postsecondary education. California’s economy Glasswerks Inc...... 1/35 Los Angeles Universal Preschool ...... 39 [email protected] | ext. 231 mostly tuna and, later, sardines. That led to the to Asian restaurants and markets. “There aren’t many young bloods here. And as ever, some fishermen are still doing what they S 20% Markets at Northeastern University, the nation’s young dropouts Second, we must make education a community priority by would accrue an additional $40 billion over the lifetimes of just California Credit Union League ...... 1/34 Graziadio School of Lucky Baldwin's British Pub & Café . . . . .5 growth of major canneries including the Van Lately, though, the market hasn’t been kind. we slowly die off they’ll find some other use. I can to adapt to changing times. Sandler O'Neill & Partners LP ...... 1/34 ASSISTANT TO THE PUBLISHER in 2007 on average earned $8,358 annually, well below an aver- connecting schools and communities, by meaningfully engaging one year’s dropouts, according to the alliance, if those students DOUG ROMANOFF California Department Business and Management ...... 39 Y Camp Seafood Co., which marketed Chicken He goes out to sea about twice a week and hope the fishing lasts, but I don’t encourage For years, Bob Bertelli, 63, fished abalone, Schwartz Profitability Group ...... 38 BETH THERIAC age of $15,149 for all young adults and one-third that of the parents, and by realizing that funding education is not a cost, it’s could be converted to graduates. Businesses rank having an edu- ROMANOFF FLOOR COVERING of Transportation ...... 12 Greenberg Traurig LLP ...... 1/34 Yahoo Inc...... 29 [email protected] | ext. 249 of the Sea, and the giant StarKist, which got grosses less than $6,000 a catch: about 1,000 my sons to follow me into it.” halibut and sea urchins. Three years ago, he added California Fashion Association ...... 6 M Shamrock Capital Partners ...... 3 62% 18% RECEPTIONIST $24,800 average earned by those with a college degree. In fact, an investment. The Rand Corp. estimates that there is a 16 percent cated, skilled work force as the No. 1 determinant on where to ROMANOFF-FLOORS.COM its start here. pounds of sea cucumbers at about $3 a pound With good reason. After a lull during the sea cucumbers to meet rising demand from China. California Wetfish Producers Assn. . . .1/36 Majestic Realty Co...... 10 Sotheby's International ERIN SCHAUER those who receive a graduate level education earn more than $1 to 17 percent rate of return for every dollar invested in education. locate. Now, it’s time to ensure that our students stay in school. MEMBER SINCE 07 In the 1950s and ’60s, the operations and 4,000 pounds of urchins worth about 70 recent recession, international trade is again on Now, he sells about $60,000 to $80,000 Cathay General Bancorp ...... 7 H Marcum LLP ...... 1/35 Realty Affiliates LLC ...... 29 Z [email protected] | ext. 270 million more over their careers than those who do not. Third, we must take concrete steps to improve our schools, employed an army of fishermen who cruised cents a pound. After fuel, repairs and paying his the rise, which means Fish Harbor may have a worth of produce each year harvested from his CBS Interactive Inc...... 6 Hanmi Financial Corp...... 7 Marina del Rey Hospital ...... 3 StarKist Co...... 1/36 Zacks Investment Research ...... 5 From an economic development perspective, the alarming including: Gary Mangiofico is associate dean of fully employed and Pay the balance in full within 10 days of the statement closing date and get a 1.5% discount on virtually all purchases made that month. The discount will appear as a credit on the following billing statement. Pay 10% of the balance from new activity on your billing statement, plus the entire amount There isn’t a of any previously deferred payment or amounts past due by the “Please Pay By” date on that statement, and you can extend payment on the rest until the closing date of your next billing cycle, without penalty. Visit open.com/plum for details. ©2011 American Express Bank, FSB. All rights reserved. up and down the coast as far south as Central one assistant, his boat is “marginally profitable.” future as a cargo terminal. Also, with the Pana- 36-foot boat Dragon. It’s a living, even if the big enough high school dropout rate in Los Angeles County is a lifeblood • Invest in increased metrics to measure student performance executive programs at Pepperdine University’s Graziadio America. Then, pounded by foreign competi- The reasons, according to Herzik: A long- ma Canal expected to complete a $5 billion future is uncertain. increase in issue. Not only are nongraduates much less employable – hurt- and outcomes. Just as important, hold teachers accountable to School of Business and Management and is the former CEO of sales yet. CITY tion, soaring labor and fuel costs, government suffering Japanese economy has led to a one- expansion in 2014 that will likely increase “This is a hard job,” Bertelli said. “Most BUSINESS ing our ability to attract and retain businesses, and compete in a those performance measurements and student outcomes. Teachers Los Angeles Universal Preschool. Bill Allen is CEO of the Los 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. JOURNALS regulations and fluctuating market prices, the third decline in the price for urchins even as the competition from East Coast ports, Los Ange- guys do it because they love it.” Online results for week ended Feb. 2 NETWORK globally competitive economic environment – but high school are the means to successful student outcomes. We must empower Angeles County Economic Development Corp. Thumbnails LABJ User Guide Front Page Table of Content

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Instructions for downloading and reading the business journal on your iPad. To read Digital Edition on your iPad, you must use iBook app that is a standard app for iPads. ​ 1. Click on the below listed URL: www.sdbj.com/digital-editions/ 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 5. 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. 6. 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. 7. Tap on the image of the digital edition shown on the bookshelf and the edition will open in iBooks. 8. 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. 9. Enjoy reading your weekly digital edition of the San Diego Business Journal 10. Please give us feedback by sending me an email at: [email protected] Thumbnails LABJ User Guide Front Page Table of Content

Digital edition users guide | Editorial Link to website Business Journal digital edition provides links to navigate through pages and articles easily whether you are on your mobile device such as iPad and computer. With a the touch of your fingertips on the headlines, the digital edition will directly link you to the website where the article is placed and can be forwarded through email or copied and pasted on documents of choice.

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Digital edition users guide | page jumps Business Journal digital edition provides links to navigate through pages and articles easily whether you are on your mobile device such as iPad and computer. With a the touch of your fingertips on the headlines, the digital edition will directly link you to the website where the article is placed and can be forwarded through email or copied and pasted on documents of choice.

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the ticket for a local online entrepreneur. medicine, with the most synergies in the where patients can take specific drugs Pennsylvania-based National Ticket Co. Local companies moving into the field area of individualized cancer diagnosis that are individually targeted for medical has teamed with San Diego’s TicketS- of personal genomic medicine could real- and treatment. treatments, said Fishburn, vice chairman tubCollection.com to help preserve their ize commercial possibilities earning bil- Lucier and Wain Fishburn, a founding of the Biocom board of directors and the memories of favorite sporting events, lions of dollars by the next decade. partner of Cooley LLP’s San Diego office, founding partner of a law office with an concerts, festivals and shows by upload- Call it “Brave New Medicine.” hosted a fireside chat on the future of per- active practice serving technology and life ing tickets for viewing to the TicketStub- The San Diego area is well positioned to sonalized genomic medicine and potential sciences companies. Collection site. The site is the brainchild contribute to the growth of a whole new business opportunities for Biocom’s Oct. “We want to promote the advantages of Russ Havens, former circulation exec area of biomedical technology and see a 26 breakfast meeting at the Hyatt Regency of being here to advance the field,” said at the SDBJ and an all-around good guy. positive effect on the local economy, as- La Jolla at Aventine. Nearly 200 people Fishburn. “It is a growing industry with National is one of the original ticket serted Greg Lucier, chairman and chief ex- attended. tremendous potential for future growth.” printing concerns, so it will upload some ecutive officer ofLife Technologies Corp., Biocom is the largest regional life sci- Biocom page 38 very rare and unusual tickets to the site … Some positive news on the retail front. San Diego is one of four new California markets for Best Buy’s Magnolia design Qualcomm centers, which will serve the chain’s pre- mium home entertainment and electron- ics brand. Magnolia’s CEO, Steve Delp, Revenue Is flew in Oct. 29 to dedicate the center in the Best Buy store in Mission Valley, and give a little pep talk to get things rolling. Up 6 Percent The design center becomes one of 380 Qualcomm Inc., the wireless commu- nationwide ... Need business advice? The nications technology company, reported local chapter of Score, a nonprofit orga- $10.99 billion in revenue for the fiscal year nization of retired executives and former ending Sept. 26, a gain of 6 percent from small-business owners, is offering a free fiscal 2009. seminar Nov. 23 for those interested in Net income for the year was $3.25 billion, attending. The presentation, “Business up 104 percent from fiscal 2009. Basics 101,” runs from 9:30 to 11:30 a.m. Fourth quarter net income was $865 at the Score Entrepreneur Center at 550 million, up 8 percent from the fourth quar- W. C St. in the heart of San Diego. Pre- ter of fiscal 2009. Revenue in the fourth registration is required at score-sandiego. quarter was $2.95 billion, up 10 percent org ...Southwest Airlines will soon offer from the year-ago quarter. wireless Internet for a flat fee of $5 per Chief Executive Officer Paul Jacobs flight for those who need to stay in touch reported record microchip sales. During at 35,000 feet … While we’re waiting for fiscal 2010, the company said it shipped the Wi-Fi to connect, this announce- 399 million chips, up 26 percent from fis- ment: Southwest, American Airlines and cal 2009. the San Diego County Regional Airport “Our outlook includes strong revenue Authority will be offering free gift- and earnings growth in fiscal 2011,” Jacobs wrapping services to departing ticketed said. Revenues in 2011 could hit $12.4 bil- travelers Dec. 18 to Dec. 23 at Terminal lion to $13 billion, the company reported. 1 and 2. It’s a thoughtful service since Looking ahead, the corporation said it passengers can’t take wrapped packages planned to exit its Flo TV service business through security checkpoints ... Finally! and take a restructuring charge. Time for a cultural break. The San Diego Qualcomm reported in its Nov. 3 securi- Opera opens its season Jan. 29 with ties filing that the Securities and Exchange Puccini’s “Turandot.” American soprano Commission was investigating the com- Lise Lindstrom debuts at the opera in the pany following a complaint. Qualcomm title role. Famous artist David Hockney said that it received formal notification serves as the set designer. For details and from the SEC in early September. The ducats, browse on over to sdopera.com. company then engaged outside help to Seeya! review its books, that it found no errors Contributing Editor Tom York pens the and that it continues to cooperate with SDBJ Insider. Send him items in care of the probe. [email protected] or [email protected].
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Digital edition users guide | Table of Content Page Business Journal digital edition provides links to navigate through pages and articles easily whether you are on your mobile device such as iPad and computer. With a the touch of your fingertips on the headlines, the digital edition will directly link you to the website where the article is placed and can be forwarded through email or copied and pasted on documents of choice.

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JANUARY 31-FEBRUARY 6, 2011 VOLUME 32, NUMBER 5

Business is Green! EXPO

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For more information COLUMN — Regional life sciences group thinks enough of them.’ — Kevin Carroll of TechAmerica, a high-tech globally, as reported in the Biotech column ... 11 on how to become industry trade group. To read the story, a vendor call: please turn to Page 1. 760.931.8400 or visit COMMENTARY www.carlsbad.org DEVELOPMENT — Before cutting redevelop- SPECIAL REPORT — Executive Pro le: ment, look at the property tax laws ...... 39 Jonathan Y. Freeman of Cassidy Turley ...... 18 Q&A — IT Executive Pro le Debra Jensen of ENERGY Charlotte Russe ...... 33 ENVIRONMENT — Port program promotes REAL ESTATE green practices on waterfront ...... 8 SPECIAL REPORT — Brokers share best strate- FEATURES gies for locating suitable space; class A of ce deals are plentiful ...... Starts on page 13 COLUMN — SDBJ Insider ...... 3 COLUMN — FBI getting new campus, as reported REPORTING — News in Brief ...... 12 in the Commercial Real Estate column ...... 15 A Global Tradition Making History in La Jolla ROUNDUP — Regional Report ...... 12 TRANSACTIONS — Top Multifamily Sales .... 28 COLUMN — Cities protect resources, as reported ROUNDUP — Projects, developments and were hours at Harry’s in the Business in the North County column ...29 other activities around San Diego County, as COLUMN — Gift helps foster kids, as reported in reported in the Real Estate Roundup ...... 29 when it filled with the the Kudos/Giving column ...... 38 SUPPLEMENT people that you knew...” HEALTH CARE — Ernest Hemingway, OFFICE EQUIPMENT — Of ce furniture and PHARMACEUTICALS — Cadence makes big ad- Across the River and Into the Trees of ce machines ...... A-21 4 Touch table of content teaser ditionwill tojump pain-relief directly arsenal to ...... the page of3 the story. Table of content: WIRELESS — Connect forum tackles issues of TECHNOLOGY advancing wireless health care ...... 6 Hours PHARMACEUTICALS — Amylin plans for future MARKETING — Firm asserts edgy image ...... 3 Mon-Fri: 11am-10pm Happy Hour Tapas as it rebounds from recent FDA setback ...... 7 Sat: 5pm-10pm Mon-Fri: 3pm-7pm Mon-Fri: 4pm-CLOSE EARNINGS — Qualcomm’s revenue rises ...... 3 INNOVATION WIRELESS — Verve Wireless names CEO .... 10

4370 La Jolla Village Dr.Suite 150 | 858.373.1252 | www.harrysbarandamericangrill.com TECHNOLOGY — Company creates an ‘all-ter- THE LISTS rain vehicle’ of communication ...... 4 REAL ESTATE — Commercial Real Estate Every Saturday night enjoy food and wine specials INVESTMENTS & FINANCE Brokerages ...... 16 Ernest Hemingway loved Harry’s and so will you! COLUMN — Credit union nds strength in TRANSPORTATION Catering & Private Rooms Available numbers, as reported in the Finance column 11 TRADING — San Diego Stock Chart ...... 31 TECHNOLOGY — Cubic collects $220M deal ... 8 PEOPLE WORK FORCE

ECONOMY — SDG&E chief executive ap- RECOGNITION — Treating employees well helps pointed co-chair of leadership council ...... 10 contractors make a fortune ...... 5

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