The Los Angeles Business Journal Digital Edition

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

labusinessjournal.com LOS ANGELES BUSINESS JOURNALL TM DIGITAL EDITION THE COMMUNITY OF BUSINESS www.labusinessjournal.com/digital

WELCOME TO THE LOS ANGELES BUSINESS JOURNAL DIGITAL EDITION

To read your copy of the Digital Edition INSTRUCTION Please select a reading preference FOR PC/MAC

How to read LABJ Digital Edition on iPad in iBooks:

1 TAP CENTER 2 TAP ‘OPEN WITH’ 3 TAP ‘iBOOKS’ Wait for gray bar with Wait for scroll down menu menu buttons to appear on and tap the iBooks icon. top of the PDF. Wait for PDF to load in iBOOKS. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

labusinessjournal.com LOS ANGELES BUSINESS JOURNAL Volume 33, Number 35 THE COMMUNITY OF BUSINESSTM August 29 - September 4, 2011 • $3.00 Up New Chain Might Bag Hike From a Strike has opened 177 stores since then. But the stores have Front GROCERY: Picket lines at rivals failed to catch on as expected and have yet to turn a could lift struggling Fresh & Easy. profit, losing about $300 million for Tesco in the fiscal year that ended in February. By JAMES RUFUS KOREN Staff Reporter “A strike of the magnitude that is being talked about could be Christmas come early for Fresh & The prospect of another strike by unionized grocery Easy if it lasted any time,” said Clive Black, who workers is bad news for Vons, Albertsons and Ralphs. follows Tesco as head of research for Shore Capital But it’s good, if not great, news for competing Group Ltd. in Liverpool, England. nonunion grocery chains that should see more shop- Fresh & Easy Chief Executive Tim Mason has pers – and the biggest winner could be Fresh & said the chain needs to become profitable – and Easy Neighborhood Markets Inc., the struggling El soon. He told London’s Financial Times last month Segundo-based unit of British retailer Tesco PLC. that Fresh & Easy can’t keep losing money and Why Lynda Fresh & Easy entered the L.A. and Southwestern Resnick is trying U.S. markets with great fanfare four years ago, and Please see GROCERY page 51 Bin There: Customer at Fresh & Easy in Van Nuys. to turn her water business into wine, too. PAGE 3 SPECIAL L.A. Making Clean News & REPORT RETAIL Analysis WHO’S Break With Tech? WHO IN DEVELOPMENT: Villaraigosa REAL GROUND opens green corridor to all comers. ESTATE BREAKERS By HOWARD FINE Staff Reporter Years of efforts by Mayor Antonio Villaraigosa to build a clean tech corridor in the downtown area that would make Los Angeles a national leader in green technology now hinge on what could be a last-ditch Overhill Farms development effort. is now making Trammell Crow Co. is negotiating with the Com- Boston Market munity Redevelopment Agency to take over redevel- meals, but can it opment of a sprawling industrial site south of down- sell them? town that’s seen as the key component of the corridor. PAGE 5 Meanwhile, Villaraigosa said last week that other types of companies can come to the corridor, not just those specializing in clean tech. “We welcome any and all other innovative, cre- People ative companies moving into the corridor to create

Please see DEVELOPMENT page 52 Trash Companies Dig In on Recycling How Steven Streit lost 140 WASTE: pounds while Haulers, host cities founding a new clash over competing plant plans. industry. PAGE 13 By ALFRED LEE Staff Reporter

Trash hauling in Los Angeles has always been MAIL TO: something of a dirty business, with companies vying for hard-won contracts using cutthroat pricing and RINGO H.W. CHIU/LABJ political connections. Architect DAVID ROGERS, above, has a right to smile. After all, he was the But a battle over competing recycling plant projects design principal on the $265 million reconstruction of Santa Monica Place, one in the San Gabriel Valley highlights how shrinking landfill space is intensifying competition even more – and of the biggest retail projects to open in Los Angeles County recently. Indeed, changing how companies do business. while the housing market may still be dead and office buildings looking for ten- City of Industry’s Athens Services Inc. and Hous- ants, many who work in the retail end of the commercial real estate market are ton’s Waste Management Inc. are on a collision course as they move to develop rival materials recov- still keeping busy. The Business Journal’s annual Who’s Who in Real Estate Spe- ery facilities – called MRFs or “murfs” – which pick cial Report profiles a dozen of these local retail professionals, from out and sort recyclable materials. Athens’ $60 million developers to brokers, who are grinning despite the sputtering economy. project is in Irwindale, while Waste Management is BEGINNING ON PAGE 19 Please see WASTE page 51

Nomination Deadline: Award Categories: Public Company • Private Company Friday, Sept. 16, 2011 Nonproﬁt Company • Rising Star • Government/Municipal/Public Sector Visit www.labusinessjournal.com/bizevents or contact [email protected] 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

2 LOS ANGELES BUSINESS JOURNAL AUGUST 29, 2011

LOS ANGELES BUSINESS JOURNAL ®

AUGUST 29 - SEPTEMBER 4, 2011 VOLUME 33, NUMBER 35

has been acquired by

and management

RINGO H.W. CHIU/LABJ We initiated this transaction, Page 3: Brian Norgard, founder of Chill, at his West Hollywood company. assisted in the negotiations and served CLOTHING – Billionaire investor Ron as financial advisor to Autosplice, Inc. SPECIAL REPORT: Burkle may see American Apparel’s debt WHO’S WHO IN REAL ESTATE load as a good fit for his Yucaipa Cos. . . . .8 PROFILES – Business Journal showcases RETAIL – Big 5 could be sporting a new L.A. professionals who are sold on retail board member if a Connecticut investor gets property development...... 19-28 its way...... 9 RADIO – Westwood One looks to dial up ON THE COVER business by producing more nationally syndicated programming...... 10 DEVELOPMENT – Mayor’s troubled clean Columns & features – Media Watch 10, tech corridor may hinge on redevelopment of News of the Week 12 11766 Wilshire Boulevard, Suite 870 • Los Angeles, CA 90025 downtown L.A. industrial site. (310) 478-9000 • Member FINRA/SIPC (Sidebar – “Clean tech incubator” launches www.intrepidib.com with single tenant. Page 52). PEOPLE GROCERY – A labor strike at large INTERVIEW – Former radio DJ Steven Streit supermarkets could spur shoppers to check scored his biggest hit as the creator of prepaid out struggling nonunion chain Fresh & Easy. WASTE – Trash talk between two rival debit cards...... 13 companies’ recycling centers has spilled over into court. THE LIST

UP FRONT RANKING – The 50 largest construction projects in Los Angeles County, ranked by SPIRITS – Fiji Water hopes for bottoms-up construction cost...... 16 benefits from a pair of recently acquired vineyards...... 3 INTERNET – Social video-watching site INVESTMENTS & FINANCE The test of time. Chill heats up after unfriendly comment by Columns & features – Econowatch 43, Facebook’s Mark Zuckerberg...... 3 LABJ Stock Index 44 AUTOMOTIVE – Electric-car maker Coda looks to park a dealership at Third Street Promenade...... 3 REAL ESTATE Columns & features – Page 3, Regional Report 4 Columns & features – Real Estate Column 46 NEWS & ANALYSIS COMMENTARY MANUFACTURING – Frozen-food maker Overhill Farms has added marketing and COMMENT – Charles Crumpley takes stock distribution to its menu in a deal with Boston of all the share buyback programs, and he Market...... 5 isn’t sold...... 54 ENERGY – Concern over BNK’s European CRIME – Gang violence has steep costs for gas fields may be driving away investors. . .5 L.A.’s business community, writes Amelia LEGAL – New pesticide lawsuit from the Xann...... 55 Philippines adds to food giant Dole’s 6 DEVELOPMENT – Robert J. Rodino sees Straight talk. Sound counsel. Practical solutions. chemical court cases...... BANKING – Broadway Federal will shutter little positive impact from the creation of At Snell & Wilmer, some things never change. branches and work to raise capital as it copes Wal-Mart-style superstores...... 55 with a shaky portfolio of real estate loans. .7 Columns & features – LABJ Forum 54 www.swlaw.com Los Angeles Business Journal (ISSN 0194-2603) is published weekly. © 2011, Los Angeles Business Journal. Offices are located at 5700 Wilshire Blvd., Suite 170, Los Angeles, CA 90036. Periodicals postage paid at Los Angeles, CA and additional offices (USPS #492-930). Subscription prices: 51 issues and special issue, $99.95. For new and renewal subscriptions, call 1-800-404-5225. All other inquiries (323) 549-5225. Single copies, $3.00. Mailed copies, $5.00. Back issues, $8.00. Address and subscription inquiries to: Circulation Department, Los Angeles Business Jour- nal, 5700 Wilshire Blvd. Suite 170, Los Angeles, CA 90036. This newspaper is designed to inform decision-making executives, investors and managers on the trends, the growth and the ideas important to commerce and industry in Los Angeles County. Information in Los Angeles Business Journal is gathered from sources considered to be reliable, but the accuracy of this information cannot be guaranteed. Neither that information nor any opinion which may be expressed here constitutes a solicitation for the purchase or sale of any securities. Opinions expressed in letters to the denver | las vegas | los angeles | los cabos | orange county | phoenix | salt lake city | tucson editor and commentaries are those of the authors and not necessarily those of Los Angeles Business Journal. Member Audit Bureau of Circulations. LABJ has been adjudicated Nov. 1985 to be a newspaper of general circulation. POSTMASTER: Send address changes to Los Angeles Business Journal, PO Box 16825, North Hollywood, CA 91615. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 UP FRONT LOS ANGELES BUSINESS JOURNAL 3

Driving woman confirmed that the Topanga mall houses two car company is interested in open- showrooms, Lamborghini Foot Traffic ing a showroom at the mall. North Los Angeles, which sells “Tesla told a Realtor that new and used Lamborghinis, Santa Monica mulls they would love to be on the and the Auto Gallery, which car dealership for Promenade,” Holbrook said. If sells premium preowned cars. Third Street Promenade. Tesla doesn’t come, he added, The south side of the the zone change would allow Promenade is bustling now One of the next stores to other alternative-energy car mak- that Santa Monica Place has open on Santa Monica’s Third ers to open a showroom there. reopened, and a dealership on Street Promenade might be The site wouldn’t accom- the north side, between selling very expensive shiny modate traditional dealerships Wilshire Boulevard and Ari- metal merchandise. with huge parking lots, fleets zona Avenue, could help The Santa Monica City of cars and a service depart- boost traffic at the quieter end Council will soon consider a pro- ment. Buyers couldn’t even of the pedestrian strip. posal to allow car dealerships take delivery there. The deal- “There’s been some lack- selling alternative energy models ership would be for display, luster performance from one of at the Promenade, the bustling sales and test-drives only. the blocks on the Promenade,” outdoor shopping district lined A Promenade car dealer O’Day said. “And this might with restaurants and retail stores. would continue a trend for L.A. be a way to create interest, Two council members, retail. Local electric-car compa- meet the needs of manufactur- Robert Holbrook and Terry ny Coda Automotive Inc. is ers, and meet the needs of the O’Day, have suggested a zon- set to open a showroom at the city and its interest to promote RINGO H.W. CHIU/LABJ ing change based on interest by Westfield Century City mall alternative fuel vehicles.” Lot on Minds: Santa Monica Councilmen Robert Holbrook, left, and Terry O’Day. Tesla Motors. A Tesla spokes- next week. The Westfield – Alexa Hyland

from the application. Chill’s Gould’s other startups, Bottling the vineyards by leveraging Zuckerberg message looked like the mem- Namesake, an advanced Fiji Water’s sales force. The Zinger ber wrote the post, not the app forum-style website where Vintage 125-person staff has a large – an Internet faux pas. people have live conversa- database of customers that are Backfires Zuckerberg, chief execu- tions. A few months ago, Appeal good prospects to buy wine. tive of the Palo Alto social Namesake members began “Our organization has sold Membership soars for network, saw one of the posts using the website to chat as Resnicks tap Fiji Water water to high-end restaurateurs video site after slam and commented: “That’s they watched TV shows and customer base to sell and retailers for years,” he by Facebook founder. lame.” That got all over the online videos. That led to the their new wine lines. explained. “Now they’ll have a tech blogosphere. creation of Chill. new product to talk about.” When tech entrepreneurs In response, Norgard and Chill members can sign up Stewart and Lynda The sales people may face Brian Norgard and Dan his six-person team removed for free and then enter a chat- Resnick want to turn their some hurdles. Karen Childers,

Gould launched their website the autopost feature and e- room-like forum called a water business into wine. RINGO H.W. CHIU/LABJ a wine marketing consultant Chill, they got a good deal of mailed Zuckerberg. By its “lounge” where they can Fiji Water, an upscale Resnicks in Napa, said that vintners interest and a lot of signups. third day, Chill had tens of watch themed videos, such as bottled water company the bil- don’t sell wine the way the Then – suddenly – a deluge. thousands of members. baseball bloopers or Michael lionaire couple owns in Los expensive wines because of Resnicks sell water. What happened? The West There are no hard feelings Jackson performances. Angeles, purchased Landmark the recession, and those who “People want to know the Hollywood video-watching between Zuckerberg and Norgard isn’t worried yet Vineyards in the Sonoma Val- are trading up to get more story of the people who make site got extra attention when it Chill, Norgard said. about making the website a ley north of San Francisco on value for their money,” said the wine because consumers was criticized by Facebook “We must be doing some- moneymaker. Instead, after Aug. 3. Last December, the David Bowman, Fiji’s vice believe California vintners are founder Mark Zuckerberg. thing half-interesting because the hectic beginning, he hopes company purchased the much president of marketing. living the dream life,” Chill, which launched Aug. you don’t get surface area things will settle down so the larger Justin Vineyards & In addition to Fiji Water, the Childers said. “I can’t imag- 10, is a website where people with him unless you’re strik- company can concentrate on Winery in Paso Robles. Resnicks own pomegranate ine that the consumers of the can chat as they watch the ing some chord,” he said. improving Chill’s technology The strategy behind the juice brand Pom Wonderful and Resnicks’ other brands have same online video. Members Meanwhile, Chill has and adding members. acquisitions is to ask the com- Paramount Farms, a large grow- that same need.” have to sign up using Face- received an investment offer “All we’ve been focusing pany’s water clients to become er of pistachios and almonds. Bowman expects the two book accounts. The problem from well-known Silicon Val- on is keeping up with the wine buyers, too, especially if The couple ranks 25th on the vineyards will ship about arose when Chill automatically ley tech blogger Michael demand around Chill,” he said. they are looking for midpriced Business Journal’s list of 50,000 cases of wine this posted a message on new Arrington, further raising the “Now we’ve got to get back to bottles at about $25. Wealthiest Angelenos with an year. With the Fiji sales team, members’ Facebook profiles. startup’s profile. work and focus in the experi- “In that range, we can estimated worth of $1.88 billion. that number will go up, but he A lot of programs do that but it The idea for Chill came ence and getting it right.” catch consumers who are However, Bowman doesn’t have a specific goal. usually appears as a message from one of Norgard and – Natalie Jarvey trading down from more believes he can grow sales at – Joel Russell

So You Think You Can Dance With the Masai?

Jonathan Larsen learned a new kind of dance now Lester sees herself staying for the long haul in East Africa. PAGE 3 with the company, which exports scrap metal to The Transwestern executive managing direc- Asia for recycling. tor in downtown Los Angeles took his four chil- CHARLES CRUMPLEY She was promoted to port manager last dren and wife, Barbara, with President Reagan’s month. She now oversees operations and 150 son Michael Reagan and his wife, Colleen, to employees at SA Recycling’s terminal at the Port Kenya and Tanzania for Success Story of Los Angeles. a 12-day vacation last Elinor Lester has overcome more than a cou- “All these obstacles I had, it’s made me a bet- month. The group visit- ple of obstacles on her way up. ter person and a good mother and a very hard ed one of the conti- In 1994, she dropped out of college, and the worker,” she said. “And it’s paid off.” nent’s most well-known next year she became a single mother. In 2005, tribes, the Masai, and she finally finished college, but needed to find a Net Gains Stein: Making a stab. they brought school job right away because Entertainment attorney Larry Stein doesn’t supplies and clothes to she’d been living on stop dealing with stars when he checks out of the “I’m 5 feet, 9 inches and have zero hops,” the remote village. student loan money. office on Friday afternoon. Stein explained. The tribal chief and She took what she Stein, 67, plays in a weekend beach volleyball And when he’s on the court with Sato, the some members greeted thought was a dead- game with the likes of Gary Sato, a coach of the U.S. lawyer’s not the one giving counsel. Larsen them with a customary end job as a data-entry men’s volleyball team, as well as numerous former “He always tells me what to do,” he said. dance, which involves clerk at SA Recycling. and current professionals who are stars of the game. “And I listen.” jumps as high as 4 feet. But they quickly learned “I thought, I’m just A friend introduced him to the Santa Monica they wouldn’t be just observers. going to do this while I game about 10 years ago. But Stein had to wait Staff reporters Jacquelyn Ryan, James Rufus “The chief got me and my boys to join them,” find a job I want to do,” on the sidelines for about a year and a half before Koren and Jonathan Polakoff contributed to this Larsen, 51, laughed. “We were trying to get to said Lester, 39. getting his turn to play in the competitive game. column. Page 3 is compiled by Editor Charles their (jumping) height…. They were joking that I She’s been there Now he’s a regular, playing backcourt while Crumpley. He can be reached at only got about 6 inches off the ground.” nearly six years. But Lester some of the younger players take to the net. [email protected]. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

4 LOS ANGELES BUSINESS JOURNAL UP FRONT AUGUST 29, 2011

News and notes from communities across REGIONAL REPORT Los Angeles County have opened in Lancaster; both projects were TRI-CITIES developed by Scott Ehrlich. The Laemmle BLVD Theater and Forge shop share the building at 742 W. Lancaster Boulevard. GLENDALE

Phased In: Glendale Adventist Medical WESTSIDE Center has completed the second phase of a $220 million expansion project. The hospital has finished building 30,000 square feet of its new CENTURY CITY west tower, which will be used for a range of hospital services. The phase also included a shell Legal Deal: build-out for 11,000 square feet of space that will CompuLaw LLC, a legal be used for yet-to-be-determined ancillary ser- services firm, has been acquired by Atlanta vices and a pedestrian area that connects the east competitor Aderant. Aderant, which is a port- and west towers. The third and final phase will folio firm of San Francisco’s Vista Equity add 35,000 square feet of space and 60 beds, and Partners LLC, did not disclose terms of the is scheduled to be completed in mid-November. deal, which includes CompuLaw’s Dead- lines.com subsidiary.

SAN GABRIEL VALLEY Monrovia: Soldier with AeroVironment’s Puma drone, a battlefield aircraft. Regional Report Command. The 13-pound, battery-operated To be considered for publication, Regional SAN DIMAS Puma is used for reconnaissance missions in MID-CITIES Report submissions should be e-mailed to: war zones. Making List: California Regional Multi- [email protected] ple Listing Service Inc., a San Dimas real DOWNEY Business news from companies in Los Ange- estate service, has merged with Southern Cali- CENTRAL AREA les County or nearby areas is listed on the fornia Multiple Listing Service, an Anaheim On the Menu: Owner George Efstathiou page. Please be sure that press releases real estate service. The combined entity, based has opened the Marketplace Grill & Café in specify the name of the city and the name of in San Dimas and known as California Region- DOWNTOWN LOS ANGELES Downey. The 3,300-square-foot casual bistro the company along with the description of al Multiple Listing Service, will provide prod- and coffee shop at 7877 Florence Ave. features the news. Submissions are evaluated on the ucts and services to 33 Realtor associations and Firm Combination: Chan Law Group a drive-through. basis of company size and the significance of their 68,000 customers in California. LLP, a downtown L.A. law firm that special- the announcement. The Business Journal izes in intellectual property and business tries to include as many listings as possible, cases, is joining the L.A. operations of Fox NORTH COUNTY but some may not be published due to space MONROVIA Rothschild LLP, a Philadelphia-based firm. limitations. Chan Law’s Thomas T. Chan will join Fox as Please address all inquiries to the e-mail Taking Off: AeroVironment Inc., a Mon- a partner along with Counsel Lisa A. Kar- LANCASTER address above. If you do not receive a rovia maker of unmanned aircraft, has czewski and Associate Steven S. Hanagami. response in a timely manner, received a $65 million contract to deliver The three will work in Fox’s Century City Busy Boulevard: A three-screen Laemm- call (323) 549-5225, ext. 229. Puma drones to the U.S. Special Operations and downtown offices. le Theatres cinema and retail clothing store 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 NEWS&ANALYSIS LOS ANGELES BUSINESS JOURNAL 5 Adding to Its Plate MANUFACTURING: Overhill Farms tries new distribution recipe in deal with Boston Market.

By JAMES RUFUS KOREN Staff Reporter have cut back on their orders. In addition, other frozen-food brands have lowered prices or ROZEN-food maker Overhill Farms Inc. offered promotions, cutting into private-label makes a mean gravy, but does the com- sales at Pleasanton-based Safeway Inc.’s mar- F pany know how to sell it? kets. Overhill last year also lost an $18 million That’s the question after the Vernon com- annual contract to produce meals for Heinz. pany announced it was not only taking over the As a result, revenue has slid nearly 20 per- manufacturing of Boston Market Corp.’s cent since peaking in 2008 at $239 million. supermarket product line, but will be responsi- The company posted its first quarterly loss in ble for marketing and distribution – something years – though small at $322,000 – in its fiscal it’s never done before. third quarter ended July 3. Overhill’s lack of experience outside manu- Those woes are reflected in a stock price that facturing has led some analysts to question the has slid about 25 percent this year alone. Shares strategy, but the company maintains the closed at $4.50 on Aug. 24, less than half of the Boston Market deal was too good to pass up – stock’s all-time high of $9.55 in 2008. and that it has taken steps to lessen the risk. “The economy is sluggish. It’s worse now “We heard a rumor it was going to be avail- than it was six months ago,” Rudis said. able and we did a preemptive strike,” said RINGO H.W. CHIU/LABJ Out of the Box: Overhill Executive Chef Salvador Rodriguez with Boston Market item. Overhill Chief Executive Jim Rudis. New deal “Nothing much had happened with the Moving into marketing and distribution product over the past five or six years – there should increase the amount of money that industry consulting firm Growth Group, said the company has the challenge of reinvigorat- were no new launches, no product refreshes. Overhill makes on each unit it sells, but bringing Bellisio on board gives Overhill ing the brand. We thought it was a great opportunity.” because it has no such experience the company instant infrastructure – a sales force, marketing While Boston Market still sells well – with Overhill is producing 16 Boston Market recently announced it had inked a deal putting experts, a distribution center. But it also looks retail sales last year of between $90 million frozen meals, including macaroni and cheese, all the marketing and distribution responsibili- like a complicated arrangement, especially and $100 million – it is only a niche brand in a pot roast with mashed potatoes, and lasagna. ties in the hands of Bellisio Foods Inc., a Min- because Bellisio will be manufacturing some $30 billion-plus market. What’s more, Rudis The company started production last month neapolis company that makes, markets and dis- of the product. called Boston Market a bit of a tired brand after Pittsburgh-based H.J. Heinz Co. gave up tributes its own frozen foods, including the “It’s a subcontractor subcontracting for a with stagnant sales. the license to focus on its core brands. budget Michelina’s brand. subcontractor,” Gilles said. “Are there enough Overhill hopes to boost sales by improving Under the five-year agreement, Overhill will Under the two-year deal, Bellisio and Over- margins left in there to make any profit?” and expanding the product line. To that end, pay Boston Market 4.5 percent of net sales. If hill will split profits 50-50 up to $2 million, the company has updated the packaging and its Overhill exercises a five-year renewal, it would with Overhill getting 60 percent of profits Branching out staff of six chefs has tweaked recipes, pay the same royalty rate with a guaranteed beyond that. Bellisio also will manufacture This isn’t the first time Overhill has thought improved sauces and gravies, and packaged minimum of $2.8 million in annual payments. half of the Boston Market products out of its about entering into a licensing agreement, but fresher vegetables. Overhill has an established business mak- factory in Jackson, Ohio. it’s the first time the company has pulled the trig- The next step will be developing products. ing meals for airlines, private-label entrees for Rudis said about 75 percent of Boston Mar- ger. Past deals would have required of up-front The existing Boston Market meals are all basic supermarkets, and meals for restaurants such ket frozen meals are sold east of the Rocky investments close to $10 million, Rudis said. comfort-food items, various takes on meat, as Panda Express and weight-loss company Mountains, so it makes sense for Bellisio to One of the biggest up-front costs is what’s starches and sauces. That type of meal will Jenny Craig. make some of the product and distribute the called a slotting fee – a one-time payment likely stay, but Rudis is interested in gradually In all those instances, its customers handle lion’s share of it. made to a grocery store to put a product on branching out. marketing and distribution. So why fiddle with That puts Overhill in a comfortable position their shelves. Those fees can be as high as “The comments we got from retailers was an established business model? The company of largely being a manufacturer. $100 per product per individual store, Gilles that this was a great product in terms of being a has struggled during the recession. Two of its “With our arrangement with Bellisio, it’s said. Overhill won’t have to pay those fees for great seller – great, great loyalty – so don’t biggest customers, Rosemead-based Panda not that much different than what we do for its Boston Market products, because the meals screw it up. Make it better, but don’t change it Restaurant Group Inc. and Jenny Craig, other customers,” Rudis said. never lost their place in grocers’ freezers. over,” he said. “We expect it to be one of our owned by Nestle S.A. of Vevey, Switzerland, Mike Gilles, president of Oceanside food Still, for all the hedging Overhill has done, flagship accounts.” Natural Gas Fails to Light Fire Under Investors The company’s recent earnings showed a “If the wells are successful, BNK would ENERGY: Company shares return to profitability during the second quarter BNK Petroleum Inc. (Toronto: BKX.TO) add reserves to its portfolio that are multiples Camarillo FRI. CLOSE, PAST 5 WKS after several quarters of losses. But that caused 5.0 of what it has now,” Somerville said. may be undermined by CEO: Wolf Regener barely a ripple in the stock price Aug. 10 and Aug. 24: $2.74 4.5 Yet even if BNK finds gas in these wells, it BNK’s drilling methods. there has been no news from the company Employees: 21 4.0 faces substantial challenges in getting that gas 3.5 since. So what’s happening? Market Cap: $431 million to market. Several major oil companies are By HOWARD FINE Staff Reporter “There’s been a general aversion to risk on 3.0 drilling in the region, including Irving, Texas’ P/E*: 157 2.5 the markets during recent weeks and a compa- Exxon Mobil Corp. And several European EPS: $0.02 2.0 It seems that investors are hyperskittish ny like BNK is more susceptible to risk aver- 7/22 7/29 8/5 8/12 8/19 nations are poised to pass tough regulations on about BNK Petroleum Inc.’s stock because of sion,” said Jamie Somerville, an analyst with *Twelve months trailing. Source: Yahoo Finance fracking and other techniques used to extract the company’s highly speculative venture in T.D. Newcrest in Toronto. oil and gas from shale deposits. European shale gas fields. Somerville said the risk stems from BNK’s trapped natural gas and petroleum substances. BNK Petroleum formed three years ago The stock of the Camarillo-based oil and gas primary focus on using unconventional drilling BNK Chief Executive Wolf Regener was when Calgary, Alberta-based Bankers Petro- exploration company had been sliding since oil methods in search of oil and gas deposits in traveling last week and could not be reached leum Ltd. decided to spin off its U.S. holdings prices peaked this spring. Then it climbed to shale formations in Poland, Germany and for comment. in Oklahoma, Mississippi and Alabama. While become one of last week’s biggest gainers on the Spain. BNK makes extensive use of the con- The company faces a key test in the next those oil and gas producing assets generate LABJ stock index, up 9.2 percent to close at $2.74 troversial technique known as “fracking,” or several months as it will find out whether two most of BNK’s revenue, the company early on on Aug. 24. (See page 44.) The week before, it fracturing rock formations by injecting bursts major exploratory wells in a Polish shale for- decided to focus its exploration efforts on new was one of the biggest losers on the index. of liquid and chemicals, thereby releasing mation will strike gas deposits. shale gas markets in Europe. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

6 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS AUGUST 29, 2011 Food Company Faces More Overseas Toxin Woes LEGAL: claims that use of the pesticide rendered same. There’s a story and then you have to take a Filipino plantation banana plantation workers in Latin America look at the facts of the case, the legal issues.” workers latest to sue Dole and the Philippines sterile. Most notably, the A Dole spokesman declined to comment on company successfully argued that a massive the suit. over alleged sterility. fraud was committed by a plaintiffs’ lawyer in Dole has been battling more than 200 suits several cases involving Nicaraguan banana in the United States and abroad brought by By ALEXA HYLAND Staff Reporter workers, ultimately convincing a Los Angeles workers who claim they were rendered sterile Superior Court judge to throw out the lawsuits. due to exposure to DBCP and are seeking $45 Dole Food Co. Inc. can’t shake claims that The latest allegations were brought in a suit billion in damages. a pesticide used on banana plantations made filed Aug. 8 in Los Angeles Superior Court by In fact, Dole has reached a significant point workers sterile, even as the produce giant takes Claire Espina. She filed on behalf of the Filipino in 38 of the suits, which are U.S. and steps to close the door on hundreds of cases workers with Sherwin Edelberg, her partner at the Nicaraguan cases that include claims for more involving the toxic chemical. Tarzana firm Law Offices of Edelberg & Espina. than $9 billion in damages. The company said Filipino banana plantation workers from the Espina isn’t discouraged by the tainted in a July 28 regulatory filing that it has negoti- country’s second largest city, Davao, joined image of plaintiff’s lawyers that has resulted ated a tentative settlement with the firm han- the battle against Dole earlier this month, Lawyer: Dole foe Juan Dominguez. from the fraud allegations. dling those cases, Provost Umphrey Law claiming the Westlake Village company know- “I became aware of the concerns arising from Firm LLP of Beaumont, Texas, although a ingly used a banned pesticide on Philippine resulting in physical and mental injuries, the Nicaraguan case and I started reading up on definitive agreement has yet to be signed. banana farms. About 2,400 workers allege including sterility in some workers. that first to make sure I knew what I was getting In March, a Los Angeles Superior Court exposure to the pesticide, known as DBCP, Dole continues to battle thousands of myself into,” Espina said. “But every case isn’t the judge vacated a judgment in a suit brought by Nicaraguan workers after finding that the plaintiffs’ lawyer involved in the case alleged- ly coached clients to lie about working on banana farms, and falsified work certificates and medical records. The suit is being appealed. At about the same time, the Califor- nia State Bar declined to discipline the lawyer accused of committing the fraud, Koreatown attorney Juan Dominguez. Alejandro Garro, a professor at Columbia Law School who isn’t involved in the litigation but has studied the cases, believes Dole will continue to face lawsuits claiming that banana workers were harmed due to exposure to DBCP. “There are plaintiff’s lawyers that get together and are well organized to fight against Dole,” Garro said. “These are battles between plaintiff’s lawyers who are trying to prove that these are bad things the company did. And the company, of course, has an excellent and well-equipped set of lawyers who will resist fiercely.” But Dominguez said Dole’s aggressive strategy will discourage many attorneys. “It’s just going to spread a chilling effect on all plaintiff’s lawyers getting involved if the (reward) is getting accused of fraud by anony- mous witnesses,” Dominguez told the Busi- ness Journal last week.

International connection Filipino lawyers referred the case to Espina, who emigrated from the Philippines to Los Angeles in 1983, after a lawsuit filed in the You expect to pay local suppliers without a hitch. Philippines was dismissed. She spent a month there last October meeting with Filipino lawyers and some of the banana plantation Why should it be any different internationally? workers, and her firm decided to take on the case in December. She then spent several You’re local. And you’re global. months reviewing the workers’ medical records, video testimonials and other docu- HSBC Business Direct™ enables you to manage your payments wherever you are, anywhere in ments to make sure there was strong enough the world, with: evidence to file a lawsuit in the United States. Espina said the alleged injuries include sterility > Easy 24/7 International Wire Transfers1 to foreign suppliers via Business Internet Banking and allergies. > Convenient International account opening assistance to reduce FX risk The U.S. Environmental Protection Agency banned use of the pesticide in 1979, except for 2 > Plus, no ﬁxed monthly maintenance fee pineapple farms; the ban was extended to them in 1985. The ban followed a study that indicat- Everything you need to support your business worldwide. ed a link between male sterility and exposure Start today. to the pesticide. The Filipino workers claim in the suit that Visit: us.hsbc.com/businessdirectinternational they were not made aware that the EPA banned Or call: 1.866.909.1243 the use of DBCP. Furthermore, the suit claims that the workers have limited education and live on remote farms so “it was impossible for (them) to have any suspicion of wrongdoing.” Meanwhile, Espina believes her cases will not face the same fraud allegations as the Nicaraguan suits, although she recognizes the difficulties of handling a case that rests on foreign plaintiffs and documents. “I conveyed to my clients in the Philippines the necessity of due diligence, certification and United States persons (including entities) are subject to U.S. taxation on their worldwide income and may be subject to tax and other ﬁling maintenance of medical records,” she said. obligations with respect to their U.S. and non-U.S. accounts. U.S. persons should consult a tax adviser for more information. Issued by HSBC Bank USA, N.A. Member FDIC. Still, she is preparing for a tough battle. Her ©2011 HSBC Bank USA, N.A. firm has hired an additional lawyer, Tarzana 1Standard wire transfer and EFT origination fees apply. attorney Barak Isaacs, to help handle the load. 2Other fees, including account activity fees, may apply. Please refer to the HSBC Business Direct Checking Account Terms & Charges Disclosure. “Nobody is going to hand you something on ™HSBC Business Direct is a trademark of HSBC Bank plc, used under license by HSBC Bank USA, N.A. a platter, you’ve got to fight for it,” she said. “That’s what I expect these attorneys to do.” 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 NEWS & ANALYSIS LOS ANGELES BUSINESS JOURNAL 7 Sour Loans to Churches Lead Bank to Shut Branches

BANKING: Pressure from Broadway Financial Corp. (Nasdaq: BYFC) Los Angeles FRI. CLOSE, PAST 5 WKS regulators also drives 2.2 CEO: Paul Hudson 2.1 Broadway to raise capital. Employees: 95 2.0 1.9 Market Cap: $2.7 million By RICHARD CLOUGH Staff Reporter 1.7 P/E: N/A Aug. 24: $1.54 1.6 1.5 The lights are going dim on Broadway. EPS: -$1.67 7/22 7/29 8/5 8/12 8/19 Under pressure from regulators to address Source: Yahoo Finance the growing problems in its real estate loan portfolio, Broadway Federal Bank “We’re closing those two branches to real- announced last week that it will close two of ize the economies of scale,” said Hudson, its five branches as a cost-cutting measure. adding that as much as 5 percent of Broad- The drastic step comes amid a broader effort way’s work force could be laid off as a result. by the federal savings bank, which lost $1.7 RINGO H.W. CHIU/LABJ “We’re going to keep the deposits and consoli- million in the last quarter, to raise as much as Slated for Shuttering: Broadway bank branch in Leimert Park. date them in our remaining three branches.” $10 million in capital. News of the closures sent Broadway’s “The trends don’t les in 1946 to serve the area’s low- to moder- Still, the broader investment landscape has already struggling stock down further. Shares seem to be going in ate-income African-American residents, a opened up to the point that many investors closed Aug. 24 at $1.54, down 15 percent for their favor,” said Dennis group that has been decimated by continued have an abundance of opportunities and aren’t the week and off by more than half from Octo- Santiago, chief execu- high unemployment since the recession. interested in taking a chance on a distressed ber, when shares hit $3.77. tive of Institutional Paul Hudson, chief executive of Broadway bank, said Richard Levenson, president of But Broadway’s moves could prove savvy Risk Analytics, a bank- Financial Corp., the institution’s holding Western Financial Corp., a San Diego firm in the long term. According to the thrift’s 2010 ing industry research company, acknowledged that roughly 20 per- helping community banks raise capital. annual report, it spent about $1.4 million last firm in Torrance. cent of its church portfolio is struggling, “It’s a difficult environment,” he said, noting year operating the five branches. As the economy “which is a high percentage in any one sector.” that Broadway’s success will depend upon the Santiago estimated that the closures will save flirts with another reces- The bank is working with borrowers to modify “pricing and perception of upside potential.” Broadway about $400,000 a year. Closing branch- Hudson sion, Broadway already loan terms, but regulators are growing impatient. es will not solve the institution’s underlying asset- is dealing with a bloated Last September, Broadway’s primary regu- Cost-Cutting quality issues, but he noted that it would help. portfolio of foreclosed properties, a rising level lator, the Office of Thrift Supervision, issued a To raise that upside potential, Hudson is “It extends the time they have to work out of troubled assets and declining deposits. cease-and-desist order demanding that it reduce moving aggressively to cut overhead. Broad- the rest of their problems,” he said. “What they While the issues are not unique to Broadway, its problem assets and raise capital. Broadway way last week announced plans to close have to do is figure out a way to stabilize what- Santiago noted that the thrift’s heavy exposure to has been talking with private-equity firms and branches at 4800 Wilshire Blvd. and in Leimert ever remaining quality is in their lending base.” L.A. real estate, which constitutes more than 90 major financial institutions about investing cap- Park on Nov. 7, while leaving its Midtown, Over the past three years, many local com- percent of its loans, makes the institution espe- ital through a private placement of stock, and Inglewood and Exposition Park locations open. munity banks have faced major challenges cially susceptible to the ups and downs of the Hudson said the talks have gone well. Hudson said the closures are strategic addressing troubled assets. Santiago said local economy. In particular, Broadway’s trou- “We have some commitments already from moves to trim unnecessary costs. The Wilshire Broadway will continue to be stressed for some bles are concentrated in a $100 million portfolio some private-equity firms and additional ones office was primarily a wholesale operation that time, but he is encouraged by the institution’s of real estate loans to South L.A.’s numerous are looking at our offering now,” he said. “We could be handled by other branches, while the aggressive stance on reducing reliance on churches, which have been hurt by a decline in expect by the end of September to have firm Leimert Park location is small and unprof- volatile brokered deposits, modifying loans and tithing in the down economy. commitments for the $5 million to $10 million itable, accounting for only about $10 million replacing the assets with higher-quality loans. Broadway was founded in South Los Ange- that we’re trying to raise.” of the thrift’s $342 million in deposits. “These guys are working their tail off,” he said. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

8 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS AUGUST 29, 2011 L.A. Billionaire May Slip Into American Apparel problems, declining sales and its debt load. situations where’s he able to add value.” CLOTHING: Ron Burkle Burkle, ranked No. 5 on this year’s Business American Apparel’s stock closed at 89 cents Journal list of Wealthiest Angelenos with a net on Aug. 24, down 47 percent year to date. could steer company by worth of $4.3 billion, first showed interest in A representative for Burkle declined to picking up its debt. American Apparel by acquiring a 6 percent equi- comment. American Apparel Founder and ty stake in the company last summer. But he cut Chief Executive Dov Charney didn’t return By ALEXA HYLAND Staff Reporter those holdings to 3.1 percent earlier this year. calls seeking comment. The struggling retailer remains an attractive Burkle is most likely eyeing American American Apparel Inc. has come back in target for Burkle, said Lloyd Greif, chief exec- Apparel’s $75 million loan with Bank of style for one of L.A.’s wealthiest men. utive at downtown L.A. investment banking America, which matures in July of next year, Billionaire investor Ron Burkle wants to buy firm Greif & Co. and a longtime friend and according to a source familiar with the situa- a chunk of the hefty debt load held by American adviser to Burkle. Greif said an investment in tion. As of June 30, American Apparel owed Apparel through his L.A. holding company the clothing company’s debt would allow $52 million on the credit line with $1.3 million Yucaipa Cos., which could put him in position Burkle to influence management and improve available for additional borrowing, according to influence the downtown L.A. fashion house. operations, a strategy often employed when he to a July regulatory filing. Burkle’s desire to become more active in invests in businesses. The brand, known for its hipster-inspired American Apparel was reported in the New York “American Apparel is under pressure, their clothes and provocative ad campaigns, has Post last week. The news comes as the apparel stock is depressed” Greif said. “Ron is very appealed to Burkle for several years, according maker and retailer is in turnaround mode. The much into buying low and selling high. He’s to a source familiar with the deal. company has been battered by manufacturing Burkle: Trying on American Apparel? done it time and time again, and he does it in “It’s a good opportunity to make an investment in the debt,” the source said. According to reports in New York media, Burkle would be backing either New York

American Apparel Inc. (AMEX: APP) With Aflac, you know that if your employees get hurt or sick they will have a safety net. Aflac Los Angeles FRI. CLOSE, PAST 5 WKS 1.1 CEO: Dov Charney helps pay costs that major medical doesn’t cover, by sending cash directly—faster than our 1.0 Employees: 11,300 0.9 0.8 Market Cap: $92 million Aug. 24: $0.89 0.7 Aflac makes your benefits P/E*: N/A 0.6 0.5 EPS: -$0.65 7/22 7/29 8/5 8/12 8/19 even sweeter. *Twelve months trailing. Source: Yahoo Finance

top competitors. Because it’s voluntary, it doesn’t cost your business a penny. Pretty sweet. investor Jason Beckman of Colbeck Capital or Jason Taubman Kalisman of the Taubman Visit aﬂac.com/sweetbeneﬁts, and see what all the buzz is about. real estate family in the deal. However, the Business Journal’s source said Burkle would buy the debt through Yucaipa. A big debt holder can influence a company’s operations. For example, if the company needs additional money or forbearance, the debt holder may be able to dictate terms. In some cases, it can foreclose and take over.

Retail reality Burkle, who started building his fortune by investing in currencies, commodities and flipping small grocery stores, founded Yucaipa in 1986. In the last several years, he has increased Yucaipa’s portfolio of apparel and consumer goods retailers, investing in designer brand Zac Posen, high-end New York apparel chain Scoop and acquiring a major portion of debt held by luxury retailer Barneys New York. Burkle’s familiarity with the apparel and retail industry would help him guide American Apparel to profitability, according to Greif. “There’s still a strong brand there,” he said. “The brand is resilient. Ron is a smart guy and recognizes that. What he sees is an underutilized brand that has operational issues, that is highly leveraged, and if he shows up with his tool box, he can fix a few things.” If Burkle acquires American Apparel’s debt and gains control, Greif said he wouldn’t be surprised if the investor made a bid for the company, took it private and then divested in two to three years. “It’s easier to fix things behind closed doors,” he said. “Going private could be one of the things he has in mind, or it could be going private with Dov Charney.” American Apparel has been struggling since 2009. First, an immigration crackdown led to the company losing more than half of its factory workers and unable to produce enough merchandise for its stores. That intensified its declining performance. Then, the company scrambled last year to renegotiate terms of its loans with Bank of America and London equity firm Lion Capital LLC, which gave the company a last-minute $80 million loan in Individual coverage underwritten and offered by American Family Life Assurance Company of Columbus. In New York, coverage underwritten and offered by American Family Life Assurance Company of New York. Some policies may be available as group policies. Group coverage underwritten and offered by Continental American Insurance Company. Policies may not be available in all states. Aflac 2009 to ease financial pressures. pays cash benefits direct to the insured, unless assigned. Aflac processes most claims in an average of four days. For Continental American Insurance Company, the average is five days. There may But American Apparel landed on the brink be indirect administrative or other costs. of bankruptcy this spring. A group of Canadian

NAD1116 Please see CLOTHING page 9 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 NEWS & ANALYSIS LOS ANGELES BUSINESS JOURNAL 9 Investor Hopes to Play Ball WithSporting Goods Chain

RETAIL: Lead shareholder Big 5 Sporting (Nasdaq: BGFV) Goods Corp. FRI. CLOSE, PAST 5 WKS Stadium wants to take seat El Segundo 10 CEO: Steven Miller Aug. 24: $7.39 9 as a director of Big 5. Employees: 8,900 8 7 Market Cap: $151 million By NATALIE JARVEY Staff Reporter P/E*: 9 6 5 The largest shareholder in Big 5 Sporting EPS: $0.76 7/22 7/29 8/5 8/12 8/19 Goods Corp. is looking to take a more active role *Twelve months trailing. Source: Yahoo Finance in the retailer at a time when it could use some help. Stadium Capital Management LLC, a Coraopolis, Pa., operate more stores in more states. New Canaan, Conn., hedge fund, said it wants “Big 5 has a lot of competitive pressure.” to add a representative to the board of the El Big 5, which sells athletic goods such as shoes, Segundo retailer, which has recently struggled apparel, accessories and equipment at 395 stores in RINGO H.W. CHIU/LABJ with declining sales and falling stock prices. 12 states, reported earlier this month that weak Chief Exec: Dov Charney last year at American Apparel’s factory downtown. In an Aug. 17 13-D filing with the Securi- market conditions have continued to hurt business. ties and Exchange Commission, Stadium said it Customer traffic to Big 5 stores decreased in had boosted its shareholdings to a little more the second quarter compared with the year before, than 15 percent of Big 5’s stock and said it has causing revenue to drop less than 1 percent to $220 Clothing: Burkle May Join talked with the company about naming a repre- million. Net income dropped nearly 35 percent to sentative to the board. It is to meet with the $3.12 million due to lower merchandise margins, nominating committee next month. and higher expenses for sales and administration. Fold at American Apparel Beyond that, it’s unclear what the hedge fund Steven Miller, the company’s chief execu- has in mind. It typically has been a passive investor. tive, attributed Big 5’s weak quarterly perfor- store sales rose by 3 percent in June and 4 per- Stadium’s request comes in the midst of the mance to the recession. Continued from page 8 cent in July compared with the year before. company’s struggles to attract customers in the “During the second quarter, we continued to The company is planning to open more weak economy. battle very challenging economic headwinds in investors rescued the company in April with stores-within-stores and is expanding its reach Big 5 was one of last week’s biggest gainers the majority of our markets,” he said in a state- a financing package worth about $43 million. through partnerships with online retail giants on the LABJ Stock Index, rising 7 percent to close ment. “We experienced a decline in customer Meanwhile, Charney has brought in new eBay Inc. of San Jose and Asos plc of Lon- at $7.39 on Aug. 24. (See page 44.) But that’s still traffic, as we believe our consumer again reduced management to help turn the company around, don. It also has closed underperforming stores, a 53 percent drop from the beginning of the year purchases of discretionary items in response to including former Blockbuster Chief Financial and shifted strategies concerning its fleet of when the company was trading above $15. the difficult environment.” Officer Tom Casey as acting president. Burkle 254 U.S. and international retail locations. Jeff Green, president of Phoenix retail consult- He added that cool weather at the beginning has a longstanding relationship with Casey and While it looks like Charney may be on ing firm Jeff Green Partners, said Big 5 is a small of summer in some of Big 5’s markets also “believes in him,” according to the source track to revive American Apparel, soon he player in the competitive sporting goods market. drove down sales at the start of the quarter familiar with the deal. might not be the only one guiding the ship. “You’ve got big sporting goods stores that are since fewer people purchased apparel and American Apparel has reported improving “Ron is a value-added investor,” Greif said. expanding like crazy all over the country,” he said, equipment for summer sports and activities. sales thanks to a plan to boost profitability. The “He doesn’t go into any situation where’s he’s noting that retailers such as Sports Authority of Big 5 and Stadium did not return calls company reported earlier this month that same- sitting back as an armchair quarterback.” Englewood, Colo., and Dick’s Sporting Goods of requesting comment for this story. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

10 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS AUGUST 29, 2011

MEDIAWATCH Company Hopes to Boost MOVIE BOX OFFICE Frequency of New Shows Weekend Gross Total Gross Rank Title (millions) (millions) Distributor 1 The Help $20.0 $71.3 Disney RADIO: Westwood One Westwood One Inc. (Nasdaq: WWON) 2 Rise of Planet of Apes 16.1 133.6 20th Century Fox New York City FRI. CLOSE, PAST 5 WKS 3 Spy Kids 4 11.6 11.6 Dimension program strategy comes in 6.7 CEO: Rod Sherwood Aug. 24: $6.09 6.5 4 Conan the Barbarian 10.0 10.0 Lions Gate wake of Dial Global union. Employees: 250 6.3 5 Fright Night 8.1 8.1 Disney 6.1 Market Cap: $130 million 6 Smurfs 7.8 117.5 Columbia 5.9 7 Final Destination 5 7.7 32.3 Warner Bros. By JONATHAN POLAKOFF Staff Reporter P/E*: N/A 5.7 5.5 8 30 Minutes or Less 6.4 25.9 Columbia EPS: $0.69 7/22 7/29 8/5 8/12 8/19 9 One Day 5.1 5.1 Focus Westwood One Inc.’s announcement last *Twelve months trailing. Source: Yahoo Finance 10 Crazy, Stupid, Love 4.8 64.3 Warner Bros. week that it will broadcast a panel of presiden- Weekend ended Aug. 21 Source: Bloomberg News tial hopefuls this fall on a program hosted by Dial Global is owned by Triton Media Group Bill O’Reilly, shows the company is back on LLC, a portfolio company of L.A. investment PRIMETIME TV SHOWS its game: producing nationally syndicated firm Oaktree Capital Management L.P. Rank Program Network Rating* radio programs. 1 NFL Preseason (San Diego vs. Dallas) NBC 6.4 Following a reduction in the company’s Traffic cuts 2 America's Got Talent (Tues.) NBC 6.0 debt, the radio programming and syndication When Gores Group bought a 76 percent 3 NCIS CBS 5.7 company is refocusing on its core business and stake in the company for $100 million in March 4 America's Got Talent (Wed.) NBC 5.6 developing a range of new programs. 2008, Westwood One was heavily in debt and 5 NFL Preseason (Philadelphia vs. Pittsburgh) Fox 5.3 The announcement followed plans unveiled losing money. In the second quarter of 2008, the Week ended Aug. 21 *Each rating point equals 1.1 million homes. by Westwood One last month to merge with company reported a net loss near $200 million. Source: Bloomberg News New York radio programming and services Gores Group appointed Sherwood, its chief company Dial Global. In the all-stock deal, financial officer, to the Westwood One chief CABLE TV SHOWS Westwood One’s shareholders will get 41 per- executive post in September 2008. Rank Program Network Rating* cent of the combined entity and Dial Global’s Under Sherwood, Westwood One substan- 1 Jersey Shore MTV 4.8 will get 59 percent. Dial Global’s top execu- tially downsized its Metro Traffic business, 2 (tie) The Closer TNT 4.3 tives will stay on. (Both companies are owned which reported spot announcements of traffic 2 (tie) Rizzoli & Isles TNT 4.3 by L.A. investment firms.) and weather conditions around the country, and 4 Royal Pains USA 3.5 sold ads within the segments. Westwood slashed 5 Pawn Stars (Mon., 10:30 p.m.) History 3.4 the number of Metro Traffic offices from 61 to Week ended Aug. 21 *Each rating point equals 1.1 million homes. 13 and cut 15 percent of the workforce. Source: Bloomberg News The company maintained coverage in the TOP SELLING ALBUMS same markets. Broadcasts were recorded in hub cities and distributed to smaller markets. Rank Last Week Artist Title Label Two months later, the company was de-list- 1 New Jay Z Watch the Throne Roc-A-Fella ed from the New York Stock Exchange, as 2 New Luke Bryan Tailgates & Tanlines Capitol share prices failed to meet a $1 average for 30 3 New Various Artists Now 39 Capitol consecutive days. The company also owed 4 1 Adele 21 XL Recordings/Columbia about $250 million, which Sherwood said he 5 2 Eric Church Chief EMI Records Nashville reduced to about $110 million by spring of Week ended Aug. 26 Source: Billboard.com 2009, through a debt-to-equity deal that gave MOVIE RENTALS - DVD/VHS RINGO H.W. CHIU/LABJ large debt holders such as New York Life, Dialed In: Westwood One’s Sherwood. MassMutual and ING 23 percent of the com- Rank Last Week Title Distributor pany’s shares. 1 1 Rio 20th Century Fox It’s the culmination of a rebuilding effort at Also that year, Sherwood cut unprofitable 2 New Paul Universal Westwood One, which was hurt by advertiser programming, such as broadcasts of National 3 2 Limitless Relativity pullback during the recession. The company Hockey League games. 4 New Your Highness Universal sells ad space in its programs and sells pro- The company, which had been traded on 5 4 Soul Surfer FilmDistrict gramming to stations. The company also has the Pink Sheets since being de-listed, was re- Week ended Aug. 14 Source: Rentrak been paying down its substantial debt. listed on Nasdaq in November 2009 after a To do that, Westwood One, which is head- 200-1 reverse stock split. DVD SALES quartered in New York but has major opera- The sale of the Metro Traffic business in Rank Last Week Title Distributor Suggested Retail tions in Culver City, sold its secondary line of April allowed Westwood One to pay off an 1 1 Rio 20th Century Fox $29.99 business, a national TV and radio traffic additional $104 million in debt. 2 New Paul Universal 29.98 reporting service called Metro Traffic in Now that the debt is under control, Sher- 3 New Fox and Hound Disney 29.99 April. Clear Channel Communications Inc. wood said he has spent about $15 million 4 2 Soul Surfer FilmDistrict 30.99 in San Antonio bought Metro for $119 million. adding advertising sales personnel and devel- 5 New Mars Needs Moms Disney 29.99 Following the sale, Chief Executive Rod oping new programming since 2009. Week ended Aug. 14 Source: Rentrak Sherwood said the company will focus on pro- Westwood One reported net income of $14 ducing more original radio content, starting million for the second quarter of this year, MOVIELINK DOWNLOADS with the O’Reilly show. compared with a $5.4 million net loss in the Rank Title Distributor Suggested Retail Westwood One focuses on original radio same quarter last year. 1 Priest Screen Gems $12.99 shows such as “Monday Night Football” 2 Something Borrowed Warner Bros. 15.95 broadcasts and “The Dennis Miller Show.” Exclusive rights 3 Rio 20th Century Fox 15.95 Dial Global specializes in formatted program- The merger is expected to gain regulatory 4 Paul Universal 15.95 ming such as country music. Dial Global syn- approval by the end of the year. After that, the 5 Arthur Warner Bros. 15.95 dicates its content via satellite, and local sta- combined Westwood One and Dial Global Week ended Aug. 24 Source: Cinemanow.com tions can buy the feed to fill airtime. The prac- entity will debut with a secondary offering on a tice is most common in small and mid-sized major exchange, according to an insider at the markets. Dial Global also sells radio services, company. OUTTAKE OF THE WEEK such as jingles. Hadges of Pollack Media Group said the Tommy Hadges, president of Pollack merger with Dial Global forms a broadcasting ARNOLD? AR-NOT! Media Group in Pacific Palisades, said the giant that will give the company greater lever- Lions Gate’s revival of the two companies complement each other and age to negotiate long-term deals with both sta- Conan the Barbarian that the deal will give Westwood One money tion owners and talent. Earlier this year, the character that helped to grow its programming. company signed with the NCAA for the exclu- make Arnold “This gives Westwood One financial back- sive rights to broadcast the men’s basketball Schwarzenegger a star ing to really focus on what they’ve done well tournament games for more than 10 years. failed to draw blood at the for many years, which is offer quality pro- “It reassures programmers that they have a box office. The new film, gramming,” Hadges said. sound financial standing and that they’ll be in starring Jason Momoa, at The company’s news and talk program- business over the long-term,” Hadges said. left, debuted to a weak ming is managed at the company’s New York But not everyone is bullish. Al Ehrbar, $10 million. City office. Its Culver City office handles executive vice president at EVA Dimensions music, entertainment and sports programming. LLC, an investment research firm in New Westwood One is controlled by Gores York, rated Westwood One as “hold,” noting Radio Holdings LLC, a division of the Los that the fiscal year ended in June was the first Angeles private equity firm Gores Group. year of sales increases in six years. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 LOS ANGELES BUSINESS JOURNAL 11

TAKE A STEP FORWARD with Chase’s NEW Instant Storefront™ ce solution for small business owners that gives you Introducing Instant Storefront, an all-new e-commer everything you need to sell products online. Best1 So of you all, cancustomer reach paymentsmore customers can be anddeposited keep your into cashyour Chaseflow, Business Checking account the very next day. chase.com/Storefront to get started. wg flowing. Visit B ysxexhgvsguyehhyh g heisgsxqexheivvsxq Rrixqieshpei

Need a QR reader? Download one for free at your device’s app store. Scan this QR code to learn more about Instant Storefront.

1. Next-day funding is available to new Chase Paymentech customers for Visa®, MasterCard® and Discover® card transactions only. Next-day funding is subject to merchant credit approval and all funds are subject to fraud monitoring. Qualifying funds can be deposited on the next business day, excluding weekends and bank holidays.

2. Offer is available only with the Instant Storefront Kiosk package and is contingent upon merchant’s credit approval and the execution of a Merchant Application and Agreement with Chase Paymentech. The Chase Paymentech Merchant Agreement must be signed by September 30th, 2011 to be eligible for the “3 Months Free” trial period of Instant Storefront. After the 3 month free trial period, a $29.95 monthly fee applies. Chase Business Checking account required. Limit one offer per customer. Not available in combination with any other offer, is non-transferable and cannot be exchanged for cash. Existing Chase Paymentech customers are not eligible for this offer. Employees of JPMorgan Chase Bank, N.A., and our affiliates are not eligible. Chase reserves the right to withdraw this offer at any time without notice.

Instant Storefront™ is a trademark of Paymentech, LLC (“Chase Paymentech”), a subsidiary of JPMorgan Chase Bank, N.A. Payment processing services provided by Chase Paymentech. eCommerce Web design, development and hosting provided by Miva Merchant. Chase neither guarantees nor makes any representations or warranties of any kind regarding Miva Merchant.

© 2011 JPMorgan Chase Bank N.A., Member FDIC. Equal Opportunity Lender. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

12 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS AUGUST 29, 2011

Last week’s major news from labusinessjournal.com NEWS OF THE WEEK and other sources JOBLESS RATE: Los of federal wire fraud charges. sories used by the motion pic- BANK MERGER: First up the ranks to senior vice presi- Angeles County’s unemploy- Namvar’s attorneys argued that ture and broadcast industry. General Bank of Rowland’s dent of operations in 2000 and ment rate rose to 12.4 percent he had not received a fair trial, merger with Golden Security executive vice president of oper- in July from 12 percent in June citing alleged misconduct by PAYING UP: Long Beach Bank of Rosemead has been ations in 2008. He was previous- as budget cuts took their toll on prosecutors and the exclusion health care real estate invest- completed. The two banks ly director of marketing at Mat- government payrolls and more of defense evidence exhibits ment trust HCP Inc. said that announced the deal in late tel Inc. in El Segundo. He takes people were looking for work. from the jury room during it will pay a $102 million May. First General, the surviv- over the COO job from compa- The state Employment Devel- deliberations. Judge Percy judgment resulting from a ing bank, paid Golden Security ny co-founder and Chief Execu- opment Department said that a Anderson plans to issue a writ- 2009 jury verdict awarding shareholders $10 per share, for tive Stephen Berman, who kept survey showed the county lost ten ruling, and announced he compensatory damages to a total of about $4.4 million. the title after becoming CEO in about 30,000 jobs in July. The percent in July as 6.07 million would move Namvar’s sen- Ventas Inc. of Chicago. The February 2010. July figures are still better than passengers flew through LAX. tencing date from Sept. 26 to judgment pertains to HCP’s AUTO DATA DEAL: the year-ago unemployment Roughly 4.4 million domestic Oct. 11. Namvar’s $2.5 billion interference in Ventas’ acqui- TrueCar Inc., a Santa Moni- CFO HIRED: City of Indus- rate of 12.7 percent, with passengers traveled through the real estate portfolio collapsed sition of Sunrise Senior Liv- ca online publisher of new- try online electronics and 15,000 fewer payroll jobs. airport, compared with 1.6 mil- in 2008 amid allegations of a ing, another health care and used-vehicle pricing, said technology retailer Newegg lion international travelers, Ponzi scheme. He had solicit- REIT. HCP said it already set that it has acquired ALG Inc. Inc. has hired veteran e-com- AIRPORT ACTIVITY: Pas- according to LAWA. Air cargo ed investments from hundreds aside the full amount of the of Santa Barbara, a provider merce executive Robert Bel- senger traffic at Los Angeles traffic continued to decline, of members of the Iranian $102 million award in third of automotive residual value lack as chief financial officer. International Airport rose more down 7 percent in July. Jewish community in and quarter 2009, so the payment information. The transaction Bellack is a co-founder and than 6 percent last month, but around Beverly Hills. will have no impact on cur- is structured as a tax-free reor- former chief executive of the struggling economy took a NO NEW TRIAL: A federal rent earnings. ganization. ALG’s owner, Zetabid.com, an Irvine online toll on air cargo. Los Angeles judge has tentatively denied 3-D ACQUISITION: Bur- DealerTrack Holdings Inc. auction site specializing in World Airports, which oper- motions for an acquittal and a bank’s 3ality Digital, a HEALTH TESTING: Lock- of Lake Success, N. Y., will foreclosed real estate. ates the facility for the city, said new trial for Brentwood real provider of 3-D production heed Martin Corp. will receive 15 percent equity both domestic and international estate investor Ezri Namvar, technology and services, acquire QTC Holdings Inc., a interest in TrueCar with the EARNINGS: Guess Inc. traffic were up by roughly 6.6 who was found guilty in May acquired Element Technica Diamond Bar provider of med- ability to later increase its reported fiscal second quarter of Los Angeles, which makes ical testing for U.S. govern- stake to 20 percent. Other net income of $60.7 million, 9 motorized 3-D camera rigs, ment employees. QTC is con- terms were not disclosed. percent lower than in the same labusinessjournal.com for an undisclosed amount. sidered the largest outsourced period a year earlier. Revenue The best source for up to the minute local, national and The company will change its provider of medical evaluation NEW COO: Jakks Pacific rose 17 percent to $677 million. worldwide business news. name to 3ality Technica as a services to the federal govern- Inc. promoted Jack McGrath to … OSI Systems Inc. reported FREE MORNING UPDATE result of the acquisition, which ment and the U.S. Department chief operating officer of the fiscal fourth quarter net income Prepared by the editors of the Los Angeles Business Journal it said will make the company of Veterans Affairs. It Malibu toymaker. McGrath of $12 million, 50 percent high- and sent to you by e-mail every business day. Sign up now at the world’s largest provider of processed more than 450,000 joined Jakks in 1999 as vice er than in the same period a www.labusinessjournal.com stereoscopic 3-D camera rigs, evaluations last year. Terms of president of marketing and prod- year earlier. Revenue rose 11 image processors, and acces- the deal were not disclosed. uct development. He advanced percent to $183 million.

Advertising Feature

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

FINANCE FINANCE FINANCE California Bank & Trust is pleased California Bank & Trust is pleased California Bank & Trust is pleased to announce the appointment of to announce the promotion of Joe to announce the promotion of Ursula St. Geme to the position of Lim to the position of senior vice Charlie Bronaugh to the position of senior vice president and senior president & senior relationship executive vice president. Bronaugh relationship manager in the Los manager for the Commercial will serve as a senior manager for Angeles Commercial Banking Banking Group in Downtown the Commercial Banking Group with region. She is a seasoned banking Los Angeles. He previously held a focus on middle-market banking professional with over 20 years of the position of vice president & throughout California and will be experience in the industry. relationship manager and has nearly based in Los Angeles. St. Geme Lim 20 years of banking experience. Bronaugh

HEALTH CONSTRUCTION CIVIL ENGINEERING AltaMed has received the 1st Tishman Construction Corporation Fuscoe Engineering has appointed designation in the nation for Primary (TCC), an AECOM company, has Andrew Willrodt, PE, LEED AP to Care Medical Home by its accrediting announced that Leo Bandini lead its Los Angeles branch office. agency, The Joint Commission. has been named Executive Vice Andrew has over 20 years of civil President, Los Angeles, where he will engineering management experi- This designation means patients focus on growing Tishman’s West ence in the commercial/industrial, benefit from a team of doctors, Coast operations. Bandini comes to mixed-use and public works sectors nurses, case managers and more. The review process Tishman Construction Corporation as well as demonstrated effective- included unannounced visits to several of AltaMed’s Los with 30 years of construction ness with LID/LEED and solar/ Angeles locations. "Our first priority is our patients, and Bandini industry experience in business Willrodt renewable energy projects. our employees demonstrate this commitment every day," development and client relations. Prior to joining Contact: 213.988.8802 or [email protected] said Cástulo de la Rocha, President and CEO. AltaMed Tishman, he was recruited by Webcor to open and run had 855,103 patient visits last year. its Los Angeles office where he built the business into an operation with $1.4 billion in revenues.

INSURANCE SECURITY Announce your hirings, Stephen J. Gambale has joined ® Momentous Insurance Brokerage Devcon Security, the 13th largest promotions and other as Senior Vice President, overseeing and fastest growing home security the firm’s commercial insurance monitoring and business alarm department. Throughout his 26 year company in the United States, has accomplishments. career, he has held senior leadership hired Bo Donaldson as the general positions and acquired a broad manager for the Los Angeles branch. background in risk management and Donaldson is committed to providing agency operations. He is a welcomed the best customer service, helping Contact Rosz Murray at 323.549.5225 customers “live confidently.” Gambale addition to the senior leadership [email protected] team at Momentous. www.momentousins.com Donaldson www.devconsecurity.com 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 PEOPLE LOS ANGELES BUSINESS JOURNAL 13

RICHARD CLOUGH/LABJ Green Dot Marks the Spot: Steven Streit, chief executive of Green Dot, at the Monrovia headquarters of the prepaid debit card company.

Green Dot CEO Steven Streit, who went from radio DJ to creator of the prepaid debit card, leads an active Card Player dating life after shedding 140 pounds. By RICHARD CLOUGH Staff Reporter at my high school). I was in the speech club What led you to the financial world? and I presented the principal with an idea to do Steven Streit I still had a lot of friends in the broadcast TEVEN Streit invented the prepaid debit “NMAM,” which stood for “North Miami industry and met some guys at Disney who card, but he knew next to nothing Morning.” It allowed me to take what was just TITLE: Chief Executive were working in the Internet. Disney had a about finance just a few years ago. the teachers reading the announcements and COMPANY: Green Dot Corp. website called Go.com, which was a very early The longtime radio disc jockey, out of turn it into a show. My theme song was “In the foray into media. I said, “Do you make money S BORN: North Miami; 1962. a job in the late 1990s, used his personal sav- Stone” by Earth, Wind and Fire. off the site?” And the fellow who worked for ings to launch a company that would sell credit EDUCATION: University of Florida; left Disney said, “No, we don’t make any money card-like products so kids could shop online. You sure had some initiative. before receiving degree. off of it because the only people who surf the Little did he know that the cards would catch It became a big hit and I won an award from Internet (are kids) and when they get to our on among unbanked individuals and his com- the Miami Herald. It was a big school, so some CAREER TURNING POINT: Attending a page, there’s no commerce because young pany would become the market leader in a people knew me but a lot of people didn’t, and Wal-Mart manager’s meeting, which shaped people don’t have credit cards.” $140 billion-a-year industry. When starting I enjoyed both the anonymity and also near- his retail strategy. Green Dot Corp., though, Streit didn’t even celebrity in my mind. MOST INFLUENTIAL PEOPLE: Green Dot And a light bulb went on? know what venture capital was. So, he put his Directors Mike Moritz and Ken Aldrich. Driving home, I thought maybe I should come radio-honed talk skills to use and asked Were you better able to cope with those up with a way for people who don’t have credit PERSONAL: Lives in Pasadena. around to learn about investing, banking, pay- awkward teen years? cards to buy things online, primarily young ment processing and the like. The company On the microphone, you weren’t heavyset, you ACTIVITIES: Working out, dating. people. That was the beginning of what is today brought him to the brink of financial collapse weren’t awkward. You could be a performer. I known as the prepaid debit card industry. before he convinced the Rite Aid pharmacy enjoyed that. chain to sell the cards. Now, thanks to Streit’s That sounds about right. Where did you get funding? persistence, Green Dot’s cards can be found in When did you get on the actual radio? I was never any good at it. Luckily, I had private resources, my own money, major retailers across the country. That same When I went to University of Florida, I did the that I could spend because I made some money persistence also helped him lose 140 pounds. morning show in college called WRUF-AM Oh, come on. Didn’t you fill in for Casey from my radio career. So while I didn’t have a Streit recently sat down with the Business (850) and then later Rock 104, which was the Kasem? job, I wasn’t destitute and I was able to invest the Journal in his Monrovia office to discuss his same thing. I thought I was quite funny. In ret- Yeah, when I was here in L.A. I was running money I made in radio into starting Green Dot. radio days, the company’s early struggles and rospect, maybe I was or wasn’t. some radio stations and we ran Casey’s show. I just where all that fat went. did a pretty decent job filling in, but I’m sure it Was it a big operation at the beginning? What kind of music did you specialize in? wasn’t great. I think Casey flat-out thought I The company was in my bedroom from the Question: How did you get into radio? It was basically either rock or top 40. I was sucked, but he tolerated it because he probably end of ’99 when we were incorporated proba- Answer: I started in high school. I was a very your classic top-40 disc jockey circa 1985. I didn’t want to offend me. I did only eight shows bly until early 2001. It was just three or four heavyset kid, very awkward young man. I was did that and was on the radio in small towns. or something like that, but it was a true honor. employees and they would come during the the kind of guy everybody wanted to be friends day at different times. with because he was funny and witty, but A lot of disc jockeys have silly names and Why did you leave radio? never had a girlfriend and nobody would have sound effects. What was your shtick? I was promoted to VP of programming for a Did you know it was going to become a ever thought of inviting me to a party. In that Over the years, I was Streiter with the Heater; I company called AMFM that then was pur- big product? context, I gravitated toward performance. was your Ayatollah of Rock ’n’ Rolla, holding chased by Clear Channel. I left there in ’99 There was a morning announcements (program you hostage till 10 at night. You name it, I did it. after we were bought. Please see page 14 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

14 LOS ANGELES BUSINESS JOURNAL PEOPLE AUGUST 29, 2011

Through Thick and Thin: Clockwise from top left, Streit with Green Dot execs and directors at July 2010 NYSE bell-ringing; with, from left, Green Dot execs Marci Burton and Mia Smith in April 2010; with son Bryan; back in his radio DJ days in 1981.

How did you function in this industry? Continued from page 13 heavy overeater and by that time truly morbid- is the nation’s retailers, where 96 percent of all ly obese, well over 300 pounds, working 18-, You just ask people questions. I didn’t know any- Americans shop every week. 19-hour days in my bedroom, not sleeping, thing about credit cards, but what I did know was At the time, we didn’t know what we had fall- waking up in the middle of the night in cold how to talk with people. When you ask ques- Do your kids have any interest in working en into, but we invented the prepaid debit card, sweats realizing that I have no business. I’m tions, people answer them honestly. One fellow for the company? the method of selling them at a retail store, the running out of money and my life savings, and who is still on our board today, Tim Greenleaf, I’m not sure they know specifically what I do term “prepaid.” I’m going to lose my house and a marriage that we had children in Cub Scouts together and I for a living. I don’t talk about business hardly began to suffer from the stress of it all. said, “Tim, I’m doing something but I don’t ever at home. What do you mean? know anything about this; do you know anything At that time, they were called “host-based Whoa, hold on – 300 pounds? Where did it about business?” He said, “Well, yeah, I run an How many do you have? stored-value cards.” I knew no consumer would go? investment house.” Tim would come over to my Six, ages 18 through 24. understand that, and in talking to friends, rela- I lost the weight in 2005. I did it initially house and explain how it works. tives and kids, when I would explain it, they’d through gastric bypass. It came out of realizing Wow, you were busy for a while. say, “Oh, like a prepaid phone card,” because that I was killing myself. It was part of that The company was originally called Next It sounds compressed because they’re not all in those days prepaid phone cards were big. whole process that began really during my Estate Communications. Why abandon biologically mine. My two boys are biological. That’s where we came up with the name and divorce and realizing that I needed to get a the name? The four girls, I was a court-appointed legal it’s still the name that today everyone uses. grip. So I lost the weight, but I was still weak. People thought we sold real estate, they guardian. They’re all sisters, but no relation to After that, I began working out slowly. I liter- thought we did wills or sold funeral plots or me. We think of each other as father and kids, How did you get your first clients on ally couldn’t do one pushup. I would vomit something. So it became clear that as a con- but they didn’t come into my life till later. board? because I was so winded from one pushup or sumer brand that was a loser. We were able to convince Rite Aid to sell the one crunch. Now I can do 100 crunches with- How did that come about? product even though when we called on them, out even getting winded. Where did Green Dot come from? Oh, gosh, long story. I knew the paternal we didn’t even have a product. We had a piece of Green means go; the dot marks a spot; green grandfather – he was a friend when I lived in artwork that I drew on PowerPoint or something. How long did this whole process take? means money; green means advancement. It Washington, D.C. The family just had a lot of It was really a three-year process. I went just seemed to be a cool name. What I also tragedies. At some point, the grandfather asked They didn’t mind that you hadn’t even through round after round of skin surgery liked about it is … there was something about me if I’d step in and adopt the girls, and bring made the cards yet? because when you lose 140 pounds, which is the name that just seemed to be familiar. And them out of Virginia into a safer environment, I don’t think they knew that we didn’t have a what I lost, you can’t exercise skin. how hard is it to come up with a logo for and I did that. product. They knew that we weren’t very Green Dot? It’s a damn green dot. experienced. (But one executive) was just a The company also got healthier, too. With the kids out of the house, you must young guy who thought it was a cool idea and Once we got to Rite Aid and had a real product Do you use Green Dot’s products? have a lot more free time. How do you thought what the hell, let’s take a chance. that was really for sale in a real store, you hire I use my prepaid debit card. keep busy? a few more people, hire a few more people. Well, I’m single, and have been single for a while Did you struggle in those first few years? Before you know it, you’ve got a company of Is it your primary method of payment? now – seven years. I like to date. One day I’d like By the time I was eight months into it, I had spent 20 people and you’re for sale at two retailers. No. My lifestyle wouldn’t be fully supported to get married again and you can’t do that by work- almost all the money I had made from my exit When we got into CVS, which was our third on that. But it is the card I use for my kids; it is ing 12 hours a day and going home and watching out of radio. I had a wife who didn’t work and retailer, we now had some fairly serious distri- the card that I use for my daily purchases – “House Hunters International” on HGTV. So I try never did, I had two kids who were young – 9, bution. We weren’t profitable, but you Starbucks and shopping and that kind of thing. to go out on at least one date a week, maybe two if 10, in that age range – and it became clear to me couldn’t say it wasn’t a real company. But if I’m doing international travel or booking I’m lucky. Also, I work out regularly. that I could no longer go back to radio because by a business trip, it would not be as conducive. that time I had been out of it for two years. What made you think you could run a Since the surgery, you’re probably more financial firm? Green Dot is the market leader among motivated to keep the weight off. That must have been scary. I don’t think I thought I could. I had no busi- prepaid debit card providers, but some I’ll never not take care of myself because once I was running out of money fast and that’s ness background. The entertainment industry is big banks are expected to enter the mar- you’ve been there and you recover from it, you when the real panic set in. I thought, oh, my not business and I was on the performance ket. Are you worried about that? know what it’s like not to be in good health God, you’re going to lose this house in Pasade- side. I was a programming director, meaning No, because their platform is (different). In and you value that. I’ll be 50 in February of na; you’re going to move in with your wife’s that my days were spent with talent, talent order to buy a product that is made by a large next year, so I’m not a kid anymore. I feel like parents in Hollywood, Fla.; you’re going to unions, agents, managers, record labels, artists. bank, you would already have to be a customer I’m 20, but I’m not, so I’m ever more con- have to pull your kids out of school, and this is It was not accountants, finance, financiers, of that large bank. People who today don’t scious of working out heavily and making sure not going to have a happy ending. Those were venture capital. I actually knew nothing about have a bank account … it isn’t like they’re that my body’s always in good shape to deal not fun years. It wasn’t romantic or sexy or that. I didn’t even know what VC was. I browsing in a lobby of Chase or something. with the travel and deal with the rigors. It exciting; it was downright horrific. I was still a thought it was the Viet Cong. Their platform only is what it is; my platform keeps me busy. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 LOS ANGELES BUSINESS JOURNAL 15 6,109 3,503 2,027 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page 1,959 1,647 16 LOS ANGELES BUSINESS JOURNAL AUGUST 29, 2011

X NEXT WEEK CONSTRUCTION PROJECTS The 25 Largest Employers THE LIST L.A. County projects ranked by construction cost in L.A. County

X EXECUTIVE SUMMARY X THE TRENDS X THE PACESETTER

HE 50 largest construction projects in Los HE Los Angeles Angeles County have total construction Classroom Boom International T costs of $10.8 billion. Publicly funded Schools account for the largest number of construction projects T Airport’s Brad- projects such as freeways, schools and transpor- in the county. ley West terminal is the largest construction tation account for most of the construction. The Schools total square footage of projects on the list is 10.5 project in Los Ange- Hospital million. les County. Costs are Education projects represent the largest cat- Highway $1.26 billion and total egory listed. Los Angeles Community College Residential cost is $1.55 billion, District and Los Angeles Unified School Dis- Transportation including architecture trict both are in the midst of multibillion-dollar Airport fees, equipment and bond-funded building programs. LACCD has six Port other items. LAX: Bradley West construction. projects and LAUSD has four that qualified for Public Works The 1.3 million- this year’s list. Stadium square-foot project will enlarge and upgrade the Tom Bradley Inter- The second largest category was health care. Court national terminal, expanding it from 12 to 18 gates. Nine of the 18 Nine hospital projects are listed this year, led 0 3 6 9 12 15 gates will be able to accommodate the Airbus A380 superjumbo jet by the county’s Martin Luther King Jr. Medical Source: Business Journal research and Boeing 787 Dreamliner jet. Center. The $360 million project, started last The expanded terminal will be able to accommodate 4,000 pas- year, will renovate the hospital building and con- sengers per hour, up from 2,800. It will feature dual passenger-load- struct an ambulatory care center. Fewer Projects ing bridges for faster boarding and deplaning. Twenty-four projects under construction Value of non-residential construction permits in Los Angeles County. In addition to new gates, the terminal will have a 140,000- a year ago were finished during the past 12 square-foot hall with dining, retail shopping, airline lounges and $5 months and are no longer listed. They include (in billions) other amenities. The project will upgrade customs and immigration areas for passenger processing. Children’s Hospital Los Angeles, which opened 4 a 317-bed hospital building; the Robert F. Ken- Construction on the project started in February 2010. The hall nedy Community Schools built on the former 3 and west side boarding gates are expected to be finished by Decem- site of the Ambassador Hotel; and the Valley ber 2012. Gates on the east side will be finished one year later. Performing Arts Center at California State Uni- 2 The project is funded completely by airport operating revenue, versity, Northridge. capital improvement funds, and fees from airlines and bonds. City In order to qualify for the list, projects must 1 money is not being used. The general contractor is a joint venture of be in the county and under construction as of Walsh Group and Austin Commercial. The architect is Fentress and Aug. 1. Projects are ranked by construction 0 Associates. costs, excluding soft costs, such as design fees, 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 – David Nusbaum equipment and furniture. Source: Construction Industry Research Board – David Nusbaum

(% 1*$5 *(25185#*( 21#,5#*( 1*#& &((12 (1&*(515*1 (' *25 25155 *:(1 (' &*5#*( -'#&&#*(2. *',&5#*(5 1!#55 ,!*( 2081**5

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age Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 THE LIST LOS ANGELES BUSINESS JOURNAL 17

(% 0*$5 *(15085#*( 10#,5#*( 0*#& &((01 (0&*(505*0 (' *15 15055 *:(0 (' &*5#*( -'#&&#*(1. *',&5#*(5 0!#55 ,!*( 1/80**5

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

&'&50&'5#*(&(5 -1>-@5;:@-:7?0531?@5;:@-:725:-8 &1<@19.1> &-:5@-@5;:5?@>5/@?;2 ;A:@E * E81?; 6> @4&@-?@ ?10591:@-@5;:@-:7?/48;>5:1/;:@-/@@-:7? 1/19.1> ! #-890-81 -:0?1/;:0->E1=A-85F-@5;:@-:7 ! @E<;3>-<45/-81>>;>??;91@591?;//A>#81-?1?1:0/;>>1/@5;:?;>-005@5;:?;:/;9<-:E81@@1>41-0@;@41%1?1->/4 !!;@<<85/-.81!;@1:2;>9-@5;:<>;B5010.E>1<>1?1:@-@5B1?;2@41;C:1>?-:031:1>-8/;:@>-/@;>?#>;61/@? 1<->@91:@ ;?:3181?A?5:1??;A>:-8 *58?45>18B0&A5@1 ;?:3181? H ;?:3181? 9A?@.1A:01>/;:?@>A/@5;:-?;2A3A?@ ';@41.1?@;2;A>7:;C81031@45?5:2;>9-@5;:5?-//A>-@1-?;2 A?5:1??;A>:-8'45?85?@9-E:;@.1>1<>5:@105:C4;81;>5:<->@C5@4;A@<>5;>C>5@@1:<1>95??5;:2>;9@41105@;> <>1??@591*45811B1>E122;>@5?9-01@;1:?A>1@41-//A>-/E-:0@4;>;A34:1??;2@4185?@;95??5;:?-:0 %1<>5:@?->1-B-58-.812>;9@41+&>;A< 1D@ Please see page 18 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

18 LOS ANGELES BUSINESS JOURNAL THE LIST AUGUST 29, 2011

Continued from page 17

'$ 0)#4 )'14074")' 10"+4")' 0)"% %''01 '0%)'404)0 '& )14 14044 )9'0 '& %)4")' ,&"%%")'1- )&+%4")'4 0 "44 + )' 1/70))4

=0"" ))%:+'1")' /A6916;4?3<>?062;02.;1?@A12;@?2>B602?. (=>6;4 >0.16.*;63621(05<<96?@>60@ %,<;?@>A0@6<;;0 5* .:=A?>6B2 ;2C=2>3<>:6;4.>@?02;@2>:<12>;6F.@6<; !%;0 >0.16. <3.9909.??><<:? )'14074")' ')%) ;7"%"' 14&+71 @5>22?@<>E/A6916;4.;1 [email protected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

Los Angeles Business Journal • August 29, 2011 Special Report Who’s Who in Real Estate L.A. Retail’s Groundbreakers T’S a trying time to be in the real estate business, but there are oases amid all Arturo Sneider the foreclosed homes and empty offices. And they can be found at places like Rick Caruso Granada Hills, where Mac Chandler of Regency Centers Corp. is revitalizing an Robert Aptaker old shopping center called Granada Village with new facades and tenants. Or Mac Chandler downtown, where Kevin Dow of Turner Construction Co. is building a space for the neighborhood’s first Target at the 7th and Fig outdoor mall. Consumers David Rogers Imay not be buying houses, but they are back in stores. It’s enough to make retail David Lee Glover development one of the few corners of the industry where there is any life. In this Gwen MacKenzie year’s annual Who’s Who in Real Estate Special Report, the Business Journal profiles Jay Luchs a dozen retail specialists, including developers, architects and brokers, who are behind Jerry Neuman some of the top projects in the Los Angeles area. Peter Roth Kevin Dow David Rifkind

Getting to the Point: Construction crew working on Regency Centers Corp.’s reconstruction of Granada Plaza in Granada Hills.

RINGO H.W. CHIU/LABJ 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

20 LOS ANGELES BUSINESS JOURNAL AUGUST 29, 2011

SPECIAL REPORT WHO’S WHO IN REAL ESTATE Developer Accents Latino Neighborhoods

OT everyone who notices a problem ter called Marshfield Plaza, which opened last decides to do something about it. But year. It is close to opening an office in Snei- Ndeveloper Arturo Sneider has made a der’s hometown of Mexico City as the compa- career out of solving a problem he saw when ny looks to begin developments there. he moved here from Mexico City in 1986: few Sneider has already shopping centers in Latino neighborhoods. been integrating him- Today, he has completed more than a dozen DEVELOPER self into the Mexican retail centers in neighborhoods such as real estate community Pacoima and Walnut Park, bringing big-name Arturo Sneider, 42 and was instrumental in retailers like Best Buy and Lowe’s to commu- Founding Partner bringing the Panda nities other developers had overlooked. Express chain into the “There was not a lot of representation of Primestor Development Inc., country this year. He Hispanics in retail as owners or operators, and downtown Los Angeles said he’s negotiating no national mainstream brand tenants selling to with other tenants on Hispanics in Hispanic neighborhoods,” he both sides of the border to cross over, but said recalled. “It was a combination of the social it’s too early to name names. aspect of it and the lack of product, and I said Sneider has about seven projects in different we need to focus on it.” stages of development and has ambitious plans With a family history in property manage- to bring more retail tenants into Latino neigh- ment, taking on the task of building his own borhoods. Specifically, he’s eyeing H&M, For- development company didn’t seem daunting. ever 21, Nike and Victoria’s Secret. With brother-in-law Leandro Tyberg, Sneider “Those are tenants that I think would do founded Primestor Development Inc. in 1991. tremendous business (in Latino communities) Unlike many retail developers today, the Sneider outside downtown offices. and aren’t doing it yet. They don’t know what company hasn’t been stopped by the recession. RINGO H.W. CHIU/LABJ they are missing,” he said. In fact, it has been thriving. It opened four pro- delivered even in spite of the fact that there’s dle- to low-income communities to be devel- Still, Sneider admitted, the development he jects last year alone, including the $78 million an economic slowdown,” he said. oping is that construction costs and land costs does is not for everyone. Plaza Pacoima, which houses a new Costco, Like most of his projects, Plaza Pacoima combined are higher than the rents that you “If you don’t see this as sort of having a true Lowe’s and Best Buy. was part of a public-private partnership with can achieve and so you end up with a lot of community impact in the creation of jobs and “We were lucky enough to focus on a the Los Angeles Community Redevelopment layers of complex financing tools,” he said. opportunities for the communities, you wouldn’t demographic that has continued to expand, Agency, and required public and private Complicated or not, Sneider’s company is do it because there just are not enough years in continued to welcome the work that we do, financing to get off the ground. branching out. It opened an office in Chicago someone’s life to deal with that,” he said. and that still needs goods and services to be “The most challenging thing for urban mid- while developing a $120 million shopping cen- – Jacquelyn Ryan Caruso Sings His Tune in Vegas

ICK Caruso’s distinctive shopping malls attract admiration – and envy – from Rfellow real estate pros as they reel in shoppers from just about every corner on earth. But until now, the Beverly Hills native has located his upscale retail and entertainment complexes close to home, stretching from just Thousand Oaks to Glendale. But Caruso, a Rat Pack fan who likes to stream Sinatra songs at his signature Grove complex in the Fairfax District, is finally taking his show on the road – and the destination couldn’t be more appropriate. It’s Vegas, baby. Caesars Entertainment Corp. earlier this month tapped his Caruso Affiliated to develop a $550 million retail and entertainment district in the middle of the Strip, across Las Vegas Boulevard from Caesars Palace. The project, dubbed Linq, will stretch Caruso’s DEVELOPER development comfort zone in more than just a geo- Rick Caruso, 52 graphical way. For the first time Caruso will be only Founder, Chief Executive advising, though he could Caruso Affiliated, Los Angeles eventually operate the complex for Caesars. “It’s a completely different business model for us in that we’ll be advisers, not partners,” Caruso said. “I’m not necessarily interested in advising every potential developer who comes Caruso at the Grove. to us. What interested me was the quality of the company Caesars is and the vision for the tainment Corp. declared bankruptcy. He’s government officials and environmental and we’re going to get through it.” project they had in mind.” still in litigation over his expenditures with for- neighborhood groups in Santa Barbara, Caruso But even as Caruso departs from his tradi- Caruso typically prefers to have soup-tomer partner, Magna founder and Canadian bil- is poised to finally move ahead with plans to tional model, the developer isn’t turning his nuts control over his projects, much like Walt lionaire Frank Stronach. redevelop the historic Miramar Hotel as soon back on his Los Angeles roots. Ground broke a Disney Co., the vertically integrated Burbank “I just didn’t have control of that project as financing is sewed up. few months ago at his latest project, a mixed- entertainment conglomerate that Caruso great- and it got to the point where I had had “The banks are very leery about ground-up use development at 8500 Burton Way, just a ly admires. enough,” Caruso said. “Everything Frank did development of hotels right now and these short walk from his first shopping center, Bur- In one of the few instances where the 52- impacted me, and I couldn’t separate our pro- stock market crashes aren’t helping,” he said. ton Place, which opened in 1992. year-old developer tried something different – ject from Frank’s problems.” “In retail, I’ve got leases and there’s more The luxury complex will include 88 apart- co-developing a 51-acre outdoor mall next to Caruso doesn’t walk away from challeng- predicable income. With hotels, you’re renting ments, with ground floor retail that includes a the Santa Anita Park race track – Caruso had to ing projects easily, and in most cases that per- something on a 24-hour basis, so the financing Trader Joe’s market. walk away when track owner Magna Enter- severance has paid off. After years of placating model is different. But I’m optimistic that – Deborah Crowe 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 LOS ANGELES BUSINESS JOURNAL 21

CONSTELLATION PLACE 10960 WILSHIRE 3.1 MILLION SF Century City Westwood OF DEALS COMPLETED OVER THE LAST 12 MONTHS

BRINGING YOU OVER 150 YEARS WELLS FARGO CENTER HOWARD HUGHES CENTER Brentwood Marina del Rey OF COLLECTIVE COMMERCIAL REAL ESTATE EXPERIENCE IN LOS ANGELES

WESTWOOD CENTER 6500 WILSHIRE Westwood Miracle Mile

2029 Century Park East Suite 515 Los Angeles, CA 90067 (310) 407-3400

www.larealtypartners.com

YAHOO! CENTER 7060 HOLLYWOOD Santa Monica Hollywood

HUNT BARNETT PETER BEST RICK BUCKLEY CHRIS HOUGE LISA ST. JOHN GARY WEISS Principal Principal Principal Principal Principal Principal 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

22 LOS ANGELES BUSINESS JOURNAL AUGUST 29, 2011

SPECIAL REPORT WHO’S WHO IN REAL ESTATE

views. Last year, Aptaker also finished a $95 mil- physical due diligence for Macerich’s acquisition ways to overcome any challenge. DEVELOPER lion upgrade at Los Cerritos Center, including a program beginning in 1988. major expansion that opened completely leased. Favorite Project I Didn’t Work On: Third Street Robert Aptaker works in Santa Monica at the corporate Best Career Moment: Santa Monica Place is by far Promenade. It has become a vibrant destination for Aptaker, 50 headquarters of Macerich, which owns more than my most rewarding development by all measures shopping, dining and entertainment, but it didn’t hap- Vice President 70 malls nationwide with 72 million square feet of – largest, geographically closest, most challeng- pen by accident. The city of Santa Monica in partner- of Development space. ing, most innovative, most community involve- ship with Downtown Santa Monica Inc. made some ment and most fun! It’s also the most successful bold moves beginning in the 1960s, including closing Macerich Co., Why Retail: Shopping centers are more than just a financially. It breaks the rules of retail in so many the street to cars, converting it to a pedestrian mall Santa Monica office place to buy shoes. Communities feel a sense of own- ways. For example, in May 2011, the Market, a and constructing public parking garages. ership for their malls. It’s rewarding to be involved in collection of artisanal purveyors of meats, projects when people feel that kind of connection. cheeses, baked goods, wines, chocolates and My Colleagues Don’t Know: I joined the Westside Robert Aptaker completed the largest project of flowers, opened there. Toastmasters club in 2006 at a time when I had to do his career last year with the reopening of Santa How I Started: In 1985, I took a job as a manage- some public speaking and needed to work on commu- Monica Place, the mall next to the Third Street ment trainee with Macerich at Lakewood Center Challenges in Retail: I’ve seen some economic nicating effectively in front of an audience. I recall the Promenade designed by architect Frank Gehry. Mall. I moved into property management, tenant highs and lows, but the past few years have been first meeting that I attended as a guest – I found the The $270 million project rejuvenated the retail cen- coordination, environmental management, and tough. The economy has put the brakes on many group to be extremely supportive and friendly. In addi- ter, which now features 100 stores on three levels, finally found my place in development in 1999. potential developments. Hard work and surround- tion to improving my public speaking skills, I’ve had the an indoor-outdoor food court and expansive ocean Along the way, I had the opportunity to spearhead ing yourself with good co-workers are the best opportunity to make some new friends along the way.

DEVELOPER Hasley Canyon Village. He has worked for What I’m Doing Now: We are currently redevel- Angeles ages, opportunities to redevelop aging Mac Regency since 1997, except for a two-year stint oping our Granada Village Shopping Center in properties will increase. Chandler, 44 from 2007 to 2009 when he ran his own compa- Granada Hills. The $16 million project will ny, Chandler Partners. transform a 1960s vintage center into a con- Worst Thing: Retail thrives when employment Managing Director, temporary retail spot. Next year, we’ll redevelop increases. L.A. jobs are not growing fast enough. Pacific Region Why Retail: I love the endless learning curve. the Park Plaza center in San Pedro, now in the Retail is constant in that it is always evolving – planning stages. Favorite Projects I Didn’t Work On: Brentwood Regency Centers Corp., new tenants, new trends and new formats. Country Mart. It’s very clever and ahead of its downtown L.A. office Unlike other real estate sectors, in retail you Best Career Moment: Between 2004 and 2007, I time. Also, I appreciate the Grove. I fondly can see tenants’ sales to reveal a project’s suc- moved to the Northeast, and developed retail remember riding my bike as a boy to Gill’s Ice From his downtown L.A. office, Mac Chandler cess or failure. centers in Virginia, Maryland, Pennsylvania and Cream at the Farmers Market. manages the West Coast portfolio of Regency Massachusetts. It got me out of my comfort zone Centers Corp., a Jacksonville, Fla., owner of more How I Started: In the early 1990s, I planned to in Los Angeles and opened my eyes to new Dream Project: Bringing a Whole Foods Market than 400 shopping centers nationwide, including develop a 100,000-square-foot office building trends, especially more creative mixed-use pro- to La Canada. 20 in Los Angeles County. Chandler has overseen in the media district in Burbank. When the projects and transit-oriented development. It was the construction or renovation of Slauson Central, ject was opposed by neighbors, we developed like peering into the future of Los Angeles. My Colleagues Don’t Know: I was born at Granada Village and three major developments in a retail center instead. I’ve been hooked on Good Samaritan Hospital, located just four Valencia – Crossroads, Westridge Village and retail ever since. Best Thing About L.A. County Retail: As Los blocks from the office where I work. Public Participation Comes by Design

s co-head of the design team at Venice architecture firm Jerde Partnership, A David Rogers was design principal of Macerich Co.’s reconstruction of Santa Moni- ca Place and was a senior designer of Univer- sal CityWalk. Though he’s worked internationally, including running his own firm in Saudi Ara- bia and designing a pedestrian street in Rotter- dam, the Netherlands, the work he has done in Los Angeles has been the most challenging of his 40-year career. He notes that development here often requires public participation on a scale not seen elsewhere, citing the seven-year effort to get a design approved for Santa Monica Place – an experi- ARCHITECT ence that included both strong David Rogers, 66 support and opposition. “We started out with a project Partner-Design Director that was one thing and we went Jerde Partnership, Venice through a whole process of re- envisioning the idea. I’d never been through it before,” he said. “No other place in the world, and I’ve worked in Asia and the Middle East, has been as heartfelt.” Rogers said that retail design is significant- ly different from other specialties. With office buildings, a design needs to meet only the requirements of a company, while retail design needs to meet the needs of a company – and the surrounding community. Rogers at Santa Monica Place. “That has to work not only when it opens but RINGO H.W. CHIU/LABJ to sustain itself over time so when new people worked for Barton Myers Associates Inc. in “That was a matter of taking a corner in a years, and jokes that he’s got “probably anoth- come, it’s a continuation of the fabric of that part Los Angeles before joining Jerde in 1988. piece of very ho-hum urban fabric and making er 20” until it’s ready to run. In fact, Rogers of the city,” said the Kansas City, Mo., native, Four decades into his career, Rogers still something really special and an experiential said he’d be a car designer if he weren’t an who first became interested in architecture as an has professional goals, including a desire to place out of it,” he said. “My dream project architect. He designed and painted model cars undergraduate at the University of Nebraska. build a retail project above a Metro subway would be a larger project than that.” as a child, winning local competitions. Rogers received a master’s in architecture station, similar to what has been done at the When he’s not designing retail centers, “I think the whole idea of car culture is an from the University of Minnesota before work- Purple Line stop at Wilshire Boulevard and Rogers is restoring old cars. He has a 1959 important component of my life, and the building for an architecture firm in Athens, Greece. Vermont Avenue. A 449-unit apartment com- Chevy El Camino in his garage in which he is ing of cars when I was a kid was really the That led him to a partnership in Saudi Arabia, plex with ground-floor retail was constructed putting a Corvette engine. only creative outlet available,” he said. where he had a firm for seven years. He then there a few years ago. He’s been working on it for about five – Jacquelyn Ryan 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 LOS ANGELES BUSINESS JOURNAL 23

Loans up to $300 million, one business at a time.

As Southern California’s largest hometown bank, OneWest Bank understands the needs of local businesses. Whether it’s everyday banking services, cash management or a business loan from $100,000 to $300 million, our business specialists can help you achieve your goals. All while delivering personalized, one-on-one service. To learn how we can serve your business needs, stop by a branch near you, call 1-877-PH-1-WEST or visit us online.

owb.com

24 LOS ANGELES BUSINESS JOURNAL AUGUST 29, 2011

SPECIAL REPORT WHO’S WHO IN REAL ESTATE

opportunity to launch illi Commercial Real ARCHITECT model of Horton Plaza. The place had an RETAIL Estate’s investment services division earlier this incredible vibe and energy about it. I started BROKER year. Second, being named one of the top 10 bro- David Lee work the next day. kers nationwide for Sperry Van Ness in my third Glover, 50 Gwen MacKenzie, 47 year of investment brokerage. Design Director, Retail’s Special Challenge: It requires an Retail Practice awareness of contemporary culture, sociolog- Senior Vice President, Worst: In San Diego, there was a mixed-use ical influences and trends that drive consumer Investments development project with apartments that almost Gensler, behavior. The experiential factor will help us fell through after the election of new City Council Santa Monica office to recode tomorrow’s retailing environments Illi Commercial Real members quickly changed the political climate to and buying patterns. Estate, Encino anti-growth. The buyer pulled out and we had to Universal CityWalk. The Microsoft store at remarket the project. Westfield Century City. The Zone common Best Career Moment: Teaching. I began teach- area at Glendale Galleria. Shoppers may not ing, lecturing and sitting on review boards at Veteran retail broker Gwen MacKenzie has sat Best Thing About L.A. County Retail: If a devel- recognize David Glover, but they have experi- local universities a few years after I graduated on both sides of the table. At illi’s, she handles oper is able to assemble a decent piece of land enced the clever, entertaining venues he has from USC. It yielded several life epiphanies. acquisitions, development, repositioning and and get entitlements, there are usually plenty of created. Glover joined Gensler in 2008 after sales of real estate. Previously, MacKenzie interested retailers. previous stints at mall developer Westfield Worst: I met a young developer who hired founded Shopping Center Investments Inc., Corp. and architecture firm Jerde Partnership. me to run his design group. Three months which specialized in finding off-market invest- Worst Thing: Finding land and getting entitle- But even though Glover’s work has a signature into it, he was arrested and convicted for a ments for institutional clients. Earlier in her ments because there’s so little land left. If you L.A. style, most of his projects are internation- Ponzi scheme. It was a shocking surprise, career, she worked at Federal Realty Investment try to change a use for the land, you run up al. For example, he’s currently designing a leaving myself and the team with nothing – Trust and Sperry Van Ness. Among the deals against a lot of opposition. In other states peo- shopping center in Lima, Peru. no money, no projects, just poor judgment. she has participated in are Warner Marketplace ple may think, “Oh, they are going to bring a Fortunately, a week later I received a call for in Canoga Park, Venice Crossroads in West Los lot of jobs – let them build.” That’s not the Why Retail: Great retail environments conan interesting position with Westfield. I also Angeles and Gateway at Burbank. mentality here. tribute to memorable human experiences. In spent some time helping my team get posi- our design process, we try to reinvent and tions at other firms. Why Retail: You have to put the pieces of the Favorite Project I Didn’t Work On: Empire Cen- script the way people spend their leisure shop- puzzle together more carefully. In office and ter in Burbank developed by Zelman Develop- ping time. What gives it purpose? How can we Future of Retail: Decoding the mechanics industrial, you can put tenants in the same build- ment. It has an incredible lineup of top-tier bring relevance to it? These questions involve of commerce will fuel innovation. For shop- ing that have no relation or interaction. In retail, retailers in an area that really needed them. a lifetime of learning. ping centers, that means balancing the aspi- you can’t just fill the space. Retail leases often rational with relevance. Innovation will contain clauses that can create a lot of moving Dream Project: At this point in my career, I want How I Got My Start: As I was finishing my occur by creating new mixes of tenants and parts. You can’t put competing businesses in the projects that are difficult, where there may be scholar-in-residence at the Gamble House in events, forming new cultural traditions, next to each other, like a Bed Bath and Beyond in a tenant that’s a potential problem or isn’t per- Pasadena, Jon Jerde contacted me for an finding new ways to generate revenue and the same center as a Tuesday Morning. forming well, or where the financing or getting interview. This was the summer of 1984 leveraging technology. the entitlements is going to be a challenge. The when Jerde was finishing work on the L.A. How I Started: My first real job was property trickier it is, the more rewarding. Olympics and Horton Plaza (a San Diego Favorite Project I Didn’t Work On: Melrose manager and leasing agent for a diverse portfo- shopping center). As Jon toured me through Avenue in the 1990s. lio of projects: multifamily, office, resort and If I Weren’t Doing This, I Would Be: If I was 18 the studio he pointed out amazing artifacts of retail. I quickly realized I enjoyed retail real and could start over, a hip-hop dancer. I studied design – collage drawings, brightly painted My Colleagues Don’t Know: Someday I would estate the best. ballet when I was very young, and also did jazz concrete molds, sketches and an enormous like to become a master sommelier. and contemporary when I was older. I still keep it Best Career Moment: First, being given the up, but nowhere near professional.

1.25%

08/29/11

08/29/11 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 LOS ANGELES BUSINESS JOURNAL 25

SPECIAL REPORT WHO’S WHO IN REAL ESTATE Focus on Quality, Quantity RETAIL BROKER F you’ve ever driven down Robertson Jay Luchs, Boulevard in West Hollywood or Rodeo 39 IDrive in Beverly Hills, then you’re familiar Executive Vice President with Jay Luchs’ work. The executive vice president of CB CB Richard Ellis Group Inc., Richard Ellis Group’s Century City office has Century City brokered the deals for dozens of luxury retailers on those chic streets. Today he is easily one of the busiest and most prominent retail brokers on the Westside, closing 20 deals in Luchs on Rodeo Drive. an average quarter. RINGO H.W. CHIU/LABJ “It’s wonderful to be involved with changing areas, to bring a lot of brands to one street or area and be part of the changing of that area,” said Luchs, who estimated he has done 20-plus deals on Robertson and 25 to 30 on Rodeo. Among his other noteworthy achievements: He was the broker who leased the Malibu Lumber Yard development in 2009, using his relationships with New York stores, such as Crumbs and Café Habana, to bring them to the beachside city. It all started with a lucky break at the corner of Rodeo Drive and Little Santa Monica Building value. Boulevard in 2003 – and lots of hard work. Luchs had been working in investment sales for brokerage Insignia/ESG for two Creating financial opportunity. years when he saw that the storefront at 468 N. Rodeo was listed after the Tommy Hil- figer store closed. He lobbied for the listing and filled it with Brooks Brothers only months later. “That deal changed my career,” he said. Since then he has added to his track record by juggling clients, taking regular flights to New York and spending lots of sleepless nights. Luchs has been so successful that he’s been approached by reality TV producers to star in his own show about his West L.A. real estate dealings. Though he’s declined those opportunities out of concern for his reputation and privacy, he can been seen on an episode of a Tori Spelling reality show, “Inn Love,” as the broker showing her retail space. It’s all pretty different from what he envisioned as a teenager growing up in Potomac, Md. Luchs saw himself working in the entertainment industry. In fact, he was accepted into the competitive NBC page program in New York before graduating from the University of Virginia. A short trip to California during his senior year of college changed it all, though. “I didn’t want to leave,” he said. So Luchs declined his NBC slot and stayed in Los Angeles, where he picked up a few As a top 20 national CPA firm, Reznick Group provides entertainment-business jobs at UPN and AOL. Today’s commercial accounting, tax and business advisory services to a diverse He ultimately decided show biz industry wasn’t for him. real estate industry group of institutional real estate clients. We help them “I wanted to get into a career where your develop effective financial strategies to capitalize on wisdom is like wine: It gets better with time,” offers a unique set today’s evolving global real estate market. he said. He fell back on what had been the family By providing insights on transaction structuring, audit and business of real estate. His great-grandfather of challenges. And started a brokerage in the early 1900s that was tax issues, troubled asset management and more, Reznick continued by his grandfather and father until it opportunities. Group brings added value to the commercial real estate was sold in the early ’90s. He carries around a industry – today, and for the future. newspaper clipping in his wallet of his grandfather speaking about real estate. Luchs says the information is still relevant today. To learn more about Reznick Group and our services for “It essentially focuses on a real estate bro- the commercial real estate industry, visit: ker being enthusiastic and knowledgeable, and www.reznickgroup.com/commercialrealestate when you have that you have an advantage over others,” he said. “The fact that it’s written in 1924 and could be read in 2011 and you wouldn’t know the difference, I found that amazing.” – Jacquelyn Ryan 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

26 LOS ANGELES BUSINESS JOURNAL AUGUST 29, 2011

SPECIAL REPORT WHO’S WHO IN REAL ESTATE Lawyer Makes Case for Hollywood

ERRY Neuman is the man behind Holly- anchored by a Lowe’s. wood … and Burbank and Crenshaw, Neuman in downtown office. Another big issue he deals with Jand a growing list of cities with large today is how to make retail work in retail developments. an era when customers have the The Sheppard Mullin Richter & Hampton option of buying online. The attorney has been instrumental in negotiating answer, he said, is to make a project some of L.A.’s most recognizable retail com- virtually irresistible, more than what plexes, including TrizecHahn Corp.’s land- office or industrial project requires. mark Hollywood & Highland project and Zel- “Retail now relies on a sense man Development Co.’s Burbank Empire of social place, and in order to be Center. successful at that you don’t have His latest is Millennium Partners’ Capitol to be good at getting the right mix Records project, which would dwarf anything of tenants, you have to be good at so far in Hollywood’s comeback: a mixed-use creating an incredible experi- complex with twin 48-story office towers. ence,” he said. “I think retail is the essence of an urban Though Neuman is satisfied experience,” he said. “I think it with his career choice, he has a creates the character oftentimes of ATTORNEY ready answer to the question a community and area. It helps about what he would do if he had provide a lifeline to the street as Jerry Neuman, 48 to give it all up. He would “com- well as to the people it serves, and pletely embroil myself in com- from that perspective it’s the most Partner, Government Advocacy munity service, either through exciting piece of a project.” and Land Use public office or through private A native of Tucson, Ariz., Sheppard Mullin Richter & foundation work.” Neuman is the son of two Holo- Hampton LLP, downtown He is the chair of a new down- caust survivors and began his Los Angeles town non-profit dedicated to career in real estate law under fighting chronic homelessness boss and mentor Doug Ring, a called Home for Good, and cred- prominent L.A. land-use attorney who died its his young son for getting him two years ago. involved. It didn’t help that he started during the “We were driving downtown recession of the 1990s, but at least retail was and my son asked me, ‘Where one of the few real estate specialties that RINGO H.W. CHIU/LABJ does that person live?’ He was 3 wasn’t completely dead. He said the most landscape that you have to work your way vate Inc. when it fell apart due to planning and or 4 and I had to explain what homelessness recent recession and its aftermath have been through in order to obtain the rights to do these financial problems coupled with some commu- meant,” Neuman recalled. “I took him to a shel- worse, with an often hostile attitude toward projects,” he said. nity opposition. ter to show him, and it made me promise that if development. For example, he was working on the Mid- Developer CIM Group Inc. of Hollywood I had that opportunity, I would make sure that “One of the most challenging things about town Crossing project at Pico and San Vicente has since taken over and construction is under no father had to answer that question again.” retail development is the political and legal boulevards with developer LCOR Public/Pri- way at the development, which will be – Jacquelyn Ryan

Preeminent in Real Estate Law

In the 10 weeks between June 1st and August 10, 2011, Sidley’s Los Angeles Real Estate Group represented more than 100 clients in connection with more than 250 matters. Such matters included: • resizing of $975 million securitized first mortgage loan and • judgment for landlord against tenant, which had sought For further three tiers of mezzanine debt to break an approximately $200 million lease in a newly information contact: • $275 million loan to multinational borrower secured by six constructed office building Aimee Contreras-Camua properties • assumption of $34 million loan secured by office building (213) 896-6062 • relief from stay, foreclosure and current defense of lender • acquisition on behalf of joint venture of 30% interest in M. Scott Cooper liability litigation on $60 million mortgage secured by a resort 1.2 million-square-foot office building for approximately (213) 896-6631 • fast-track modification of $30 million CDO loan $165 million William D. Ellis • 400,000-square-foot regional headquarters lease for a major • refinancing of $122 million mortgage financing on office building (213) 896-6671 financial institution • negotiated plan of reorganization for partially completed Brian C. Flavell • restructure of $135 million mortgage debt with foreclosing luxury residence club (213) 896-6603 mezzanine lender on a timeshare resort • formation of joint venture for acquisition of cell tower leases Bruce W. Fraser • negotiated workout of $67 million hotel loan • $15 million preferred equity investment in hotel (213) 896-6098 • $120 million student housing loan modification • advice to partner concerning dissolution of mixed property Marc I. Hayutin • $50 million acquisition of automobile auction facility through partnership consisting of more than 125 properties (213) 896-6018 bankruptcy plan • $47 million first mortgage loan for entertainment retail center George M. Means • triple net lease of medical office building (213) 896-6673 • settlement efforts, strategic advice and renewed litigation in • restructure of $130 million public bonds and $15 million credit Edward C. Prokop approximately $150 million multi-asset family partnership facility for a hotel and casino (213) 896-6048 litigation • $56 million acquisition of 15-store drugstore portfolio • $60 million foreclosure and pursuit of guaranty on partially Sarah V. J. Spyksma • (213) 896-6034 $22 million bridge loan for hotel repositioning completed residence club • Paul R. Walker • $85 million purchase of medical office building portfolio strategic advice to plaintiffs in pending litigation concerning (213) 896-6789 • $26 million preferred equity investment in mixed use project $200 million multi-hotel partnership • $120 million debt restructuring on behalf of operator of nine • analysis of multiple billion dollar capital stacks for major www.sidley.com hotels capital fund

BEIJING BRUSSELS CHICAGO DALLAS FRANKFURT GENEVA HONG KONG LONDON LOS ANGELES NEW YORK PALO ALTO SAN FRANCISCO SHANGHAI SINGAPORE SYDNEY TOKYO WASHINGTON, D.C.

Sidley Austin LLP, a Delaware limited liability partnership which operates at the firm’s offices other than Chicago, London, Hong Kong, Singapore and Sydney, is affiliated with other partnerships, including Sidley Austin LLP, an Illinois limited liability partnership (Chicago); Sidley Austin LLP, a separate Delaware limited liability partnership (London); Sidley Austin LLP, a separate Delaware limited liability partnership (Singapore); Sidley Austin, a New York general partnership (Hong Kong); Sidley Austin, a Delaware general partnership of registered foreign lawyers restricted to practicing foreign law (Sydney); and Sidley Austin Nishikawa Foreign Law Joint Enterprise (Tokyo). The affiliated partnerships are referred to herein collectively as Sidley Austin, Sidley, or the firm. Attorney Advertising. For purposes of compliance with New York State Bar rules, Sidley Austin LLP’s headquarters are 787 Seventh Avenue, New York, NY 10019, 212.839.5300 and One South Dearborn, Chicago, IL 60603, 312.853.7000. Prior results described herein do not guarantee a similar outcome. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 LOS ANGELES BUSINESS JOURNAL 27

SPECIAL REPORT WHO’S WHO IN REAL ESTATE

ATTORNEY procal ground and theater leases with Mann Peter Theatres that were necessary to assemble parcels for the Hollywood & Highland project. It CONTRACTOR Roth, 43 was a huge project with lots of moving parts Los Angeles and that required a lot of attorneys with different Kevin Dow, 52 Century City Chairman, skills. General Manager Shopping Center and Retail Practice Group Most Challenging: I’d have to say Hollywood & Turner Construction Co., Highland, too. In the middle of negotiations, the downtown L.A. office Allen Matkins Leck ownership of Mann changed and this new guy Gamble Mallory & comes into town and starts tearing up all our Natsis LLP, Century City work. It took time to get things back on track.

Peter Roth immerses himself in all aspects of retail, Best Thing About L.A. County Development: from strategic planning to negotiating complex The diversity of geography, population and ground leases. It has come natural to the L.A. Ange- urban infill situations results in creative and dis- les native, who earned his law degree from Duke tinctive solutions to get a retail project done, University and started his career at Paul Hastings, rather than cookie-cutter box deals. where he became fascinated by real estate. After moving to Allen Matkins, he was part of a team that Worst Thing: Not enough of it at the moment. Dow at 7th and Fig.

pulled together the land, leases and entitlements for There have been some standout projects, such as RINGO H.W. CHIU/LABJ the Hollywood & Highland Center, developer Trizec what Rick Caruso has done with the Grove and Hahn’s ambitious Hollywood redevelopment effort. Americana, and the Seventh Street marketplace He now leads Allen Matkin’s local retail group. downtown that we’re involved with, and, of course, what AEG has done with LA Live. But the economy Downtown Deliveryman Why Retail: I like working with business folks over the past decade hasn’t been creating jobs here as my clients, people who pour their heart and as well it has in San Francisco. It’s those funda- HE 7th and Fig project is Kevin Dow’s change that it can bring to downtown. Creat- soul into their projects. When things go wrong, mentals that drive retail sales and development. biggest rush job. ing a work-life environment will solve a lot they’ll sell their houses and bootstrap them- T A 29-year veteran with Turner Con- of problems, and getting people to live and selves back up and keep fighting for another Dream Project: I’m working on it now in north struction, Dow is in charge of completing a $40 shop downtown is the first step.” day. You see that entrepreneurial spirit even San Diego, a mixed-use commercial, residential million redevelopment of the three-story outdoor Not that Dow doesn’t have other projects more in the retail real estate community. and retail center which will be a live-work-play mall in time for its scheduled opening in May. competing for his attention. As Turner’s gen- jewel when completed later this decade. The upgrade of the downtown L.A. cen- eral manager for Los Angeles and four sur- How I Started: When I went to law school at ter, owned by Brookfield Office Properties, rounding counties, he’s managing 18 con- Duke University, I knew I wanted to be a trans- My Colleagues Don’t Know: I spin records and was originally set to be completed next fall struction jobs with budgets totaling more actional attorney rather than a litigator. I started review high performance audio equipment for but that date was moved up. When it does than $300 million. in another practice area, but I was interacting UltraAudio.com and SoundStageHiFi.com. open, it will feature a Target, downtown’s Dow started with Turner in 1982 in with a lot of attorneys who did real estate and I first discount store. The need for speed, how- Boston and soon moved to Milford, Conn., found what they were doing really interesting. If Weren’t Doing This I Would Be: Importing ever, stokes enthusiasm, not panic, in Dow. where he spent 20 years building offices and and distributing cutting-edge audio equipment “With retail projects, speed and urgency shopping centers around New England. He Most Rewarding Development: Finalizing reci- from around the world. I’m a real audiophile. are always important,” he said. “But what makes this project exciting is the cultural Please see page 28

Inglewood, $3,750,000

9 units - Portland, OR - $620,000

Los Angeles, $5,400,000 Los Angeles,Angeles, $2,195,000

Financing Real Estate. Investing in Relationships.

Tony Fire, VP, Regional Director (310) 426-7727 El Segundo Regional Office: 2121 Rosecrans Ave, Ste 4330

COMMERCIAL AND MULTIFAMILY LENDING

714_516_ad 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

28 LOS ANGELES BUSINESS JOURNAL AUGUST 29, 2011

SPECIAL REPORT WHO’S WHO IN REAL ESTATE Continued from page 27 Banker Buys Into Refinancing moved to Los Angeles in 2006. In New England, retailers depend heavily s the head of operations and strategy and port of Long Beach. on the holiday season and Dow quickly at real estate investment bank George His team was able to suc- learned that if a project didn’t open by Thanks- ASmith Partners, David Rifkind has cessfully negotiate a long- giving, it was considered a failure. In Los spent much of his time in recent years work- term lease with the city that Angeles, shopping is more of year-round activ- ing with commercial property owners trying enabled the original developer ity, so that means every day counts in the race to hold on to their assets. to attract Carnival Cruises to to finish 7th and Fig. While he would rather be financing new the underutilized waterfront “This project is about location and long- retail developments, it hasn’t been all bad. eight years ago. George Smith term viability, but it’s still schedule driven and Consider the refinancing this year of Syl- also provided the financing quick paced,” he said. mar Town Center, a shopping that paid for the retrofitting of Since coming to L.A., two Turner projects center built in 1974 that fea- the historic 140,000-square- that he has worked on have fired his imagina- tures a Ralphs, CVS and other FINANCIER foot Spruce Goose Dome into tion, though both had minimal retail. The first stores. The owners needed to David Rifkind, 46 a passenger terminal with was Terranea Resort in Rancho Palos Verdes. pay off a bridge loan and move adjacent restaurants and retail The luxury hotel sits on a spectacular 102-acre into long-term financing to Principal, Managing Director to create a more attractive port site overlooking the ocean. continue updating the 150,000- George Smith Partners Inc., of call. The second project was the Ontario Events square-foot property. Century City Some of his favorite Center. Dow recalls how Ontario residents toured “It’s a center with deep newer projects that he hasn’t the convention building for the first time, looking roots in the Sylmar communi- been involved with include a around in awe and wonder. It was an experience ty, so it was a rewarding project to work on,” nod to the past, particularly he hopes to relive next year when shoppers walk he said. Rick Caruso’s Grove shop- through 7th and Fig for the first time. Rifkind caught the real estate bug while ping center in the Fairfax “There’s a buzz surrounding the project and working for a developer during his senior District. you can see consumers are excited about it,” he year at USC, where he earned dual degrees in “The tenant mix is vibrant said. history and international relations. and imaginative, and enabled Still, he’s not done. He would like to get a He began working on development and the evolution of the historic piece of the Wilshire Grand project – Korean acquisitions 24 years ago, transitioning to the Farmers Market into a destina- Air has proposed to rebuild the hotel with a finance side of the industry in 1990. He tion for more than just the mixed-used office and hotel complex – and the joined George Smith six years later. local residents,” he said. proposed National Football League stadium “As a product type, retail is probably the Rifkind at Century City office. The commercial revital- and Los Angeles Convention Center upgrade. most creative. You have to design and market RINGO H.W. CHIU/LABJ ization project he’d most Dow believes that if those projects become a development to two constituencies: both Rifkind considers the commercial compo- like to have a hand in? reality, downtown will be comparable to Man- potential tenants as well as their customers,” nent of the Queen Mary Seaport in Long “Westwood Village is one of the great hattan, a round-the-clock city that never sleeps. he said. Beach as one of the most creative and chal- underutilized potential redevelopment areas “Even if we don’t get to work on those pro- Some of his favorite financing deals over lenging developments he has shepherded. The in Los Angeles County,” he said. “I would jects, the potential is unlimited for ancillary the years – such as the Whiskey and House of deal was particularly complicated because love to be part of the group that figures out a hospitality and retail construction if those pro- Blues nightclubs on Sunset Boulevard – any redevelopment of the port site required 21st century, highest and best use for the key jects go through,” he said. helped pump life into iconic L.A. neighbor- sign-offs from a variety of regulators and streets in that community.” – Joel Russell hoods that had seen better days. environmental groups in addition to the city – Deborah Crowe

PROUDLY REPRESENTING SOUTHERN CALIFORNIA’S FINEST PROPERTIES

MONTECITO: Italian Country-Style. LOS ANGELES: 1280 Stone Canyon Road. MONTECITO: French Country-Style Home. VENTURA: Stunning Oceanfront. Newly constructed in 2011, approx. 5 acres, panoramic Gated and romantic European manor on just under an (QFKDQWLQJVHWWLQJRQDSSUR[DFUHVRYHUORRNLQJ Stunning oceanfront resort-styled home will transport ocean and mountain views, 5 bedrooms, and approx. DFUHRISDUNOLNHJURXQGV/DUJHSRROVSDODZQVDQG 9DOOH\&OXE*ROI&RXUVHEHGURRPVRIÀFHSXEURRP you to the tropics. $5,700,000 WEB: 0113281 3,900 sq.ft. of entertainment terrace. $14,950,000 gardens. Co-listed. $9,950,000 WEB: 0025775 2-bedroom guest house, pool and spa. $6,950,000 Janet Caminite 805.896.7767 WEB: 0113464 Harry Kolb 805.452.2500 Bennett Carr 310.777.5151 WEB: 0113375 Harry Kolb 805.452.2500 Montecito Coast Village Road Brokerage Montecito Coast Village Road Brokerage Beverly Hills Brokerage Montecito Coast Village Road Brokerage

WESTLAKE VILLAGE: Custom One-Story Estate. PASADENA: 502 Laguna Road. WESTLAKE VILLAGE: Gated Westlake Estate. AGOURA: Incredible Opportunity. Gated, 5 bedrooms, 6.5 baths on approx. 1-acre.Warm San Rafael area home features 4-bedroom, 6-bath, Approx. 5 acres, 5-bedrooms, 6.5 baths with three Approx. 10 beautiful acres in Lobo Canyon. Unique HOHJDQFHRIÀFHELOODUGURRPFKHI·VNLWFKHQLQÀQLW\SRRO DSSUR[VTIW*XHVWVWXGLRSRRORXWGRRUÀUHSODFH EHGURRPVDQGRIÀFHGRZQVWDLUV%RQXVURRPSRROVSD opportunity to build your dream among multi-million DQGÀUHSODFHV:(% IDPLO\URRPDQGODUJHPDVWHUVXLWHZLWKÀUHSODFH and mountain views. $1,595,000 WEB: 0422978 dollar homes. $575,000 WEB: 0422988 Cathie Messina 818.335.8047 $2,385,000 WEB: 0275796 Cathie Messina 818.335.8047 Cathie Messina 818.335.8047 Westlake Village Brokerage Seager & Seager 626.437.7943 Pasadena Brokerage Westlake Village Brokerage Westlake Village Brokerage

SOTHEBYSHOMES.COM 86( 7+( :(%180%(563529,'('72),1'287025( ,1)250$7,2121$3523(57<7+528*+285 :(%6,7( GREATER LOS ANGELES | GREATER PASADENA | GREATER VENTURA | MONTECITO | SANTA BARBARA | SANTA YNEZ VALLEY 2SHUDWHGE\6RWKHE\·V,QWHUQDWLRQDO5HDOW\ ,QF 6RWKHE\·V,QWHUQDWLRQDO5HDOW\LVDUHJLVWHUHGWUDGHPDUN *Downs farm used with Permission 6RWKHE\·V,QWHUQDWLRQDO5HDOW\GRHVQRWJXDUDQWHHWKHDFFXUDF\RIVTXDUHIRRWDJH ORWVL]HRURWKHULQIRUPDWLRQFRQFHUQLQJWKHSURSHUW\SURYLGHGE\WKHVHOOHURUREWDLQHGIURPSXEOLFUHFRUGVRURWKHUVRXUFHV. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

August 29, 2011 • An Advertising Supplement to the Los Angeles Business Journal

Executive Education

Respect and Professional Learning Must Come Hand in Hand

By GEORGE ROCKWELL fering beliefs, religions, value systems and and knowledge becomes meaningless. knowledge or expecting total agreement. lifestyles. Let your learners know that they Adults are people with bodies influ- Don’t “spoon-feed” the participants. oo many adult education instructors are entitled to their values, beliefs and enced by gravity. Plan frequent breaks, Individual differences among people or management trainers treat adult opinions, but that everyone in the room even if they are 2-minute “stretch” breaks. increase with age. Take into account differ- T learners as if they are “high school” may not share their beliefs. Allow debate During a lecture, a short break every 45-60 ences in style, time, types and pace of level students. It is essential to always treat and challenge of ideas. minutes is sufficient. In more interactive learning. Use auditory, visual, tactile and professional learners as the adults they are. Adults are people whose style and pace teaching situations, breaks can be spaced participatory teaching methods. Good management trainers or adult of learning has probably changed. Use a 60-90 minutes apart. Adults tend to have a problem-centered education specialists should apply knowl- variety of teaching strategies such as small Adults have pride. Support the students as orientation to learning. Emphasize how edge of the following fundamentals of group problem solving and discussion. Use individuals. Self-esteem and ego are at risk in learning can be applied in a practical set- adult learners: auditory, visual, tactile and participatory a classroom environment that is not per- ting. Use case studies, problem solving Adults are people with years of experi- teaching methods. Reaction time and speed ceived as safe or supportive. People will not groups, and participatory activities to ence and a wealth of information. Focus of learning may be slow, but the ability to ask questions or participate in learning if enhance learning. Adults generally want on the strengths learners bring to the learn is not impaired by age. Most adults they are afraid of being put down or to immediately apply new information or classroom, not just gaps in their knowl- prefer teaching methods other than lecture. ridiculed. Allow people to admit confusion, skills to current problems or situations. edge. Provide opportunities for dialogue Adults relate new knowledge and infor- ignorance, fears, biases and different opin- Note: New information and skills must within the group. Tap their experience as a mation to previously learned information ions. Acknowledge or thank students for be relevant and meaningful to the con- major source of enrichment to the class. and experiences. Assess the specific learn- their responses and questions. Treat all ques- cerns and desires of the students. Know Remember that you, the teacher, do not ing needs of your audience before your tions and comments with respect. Avoid say- what the needs are of individuals in your need to have all the answers, as long as class or at the beginning of the class. Pre- ing “I just covered that” when someone asks class. Students do not wish to learn what you know where to go or who to call to sent single concepts and focus on applica- a repetitive question. Remember, the only they will never use. The learning environ- get the answers. Students can be resources tion of concepts to relevant practical situa- foolish question is the unasked question. ment must by physically and psychologi- to you and to each other. tions. Summarize frequently to increase Adults have a deep need to be self-direct- cally comfortable. Adults have established values, beliefs retention and recall. Material outside of ing. Engage the students in a process of and opinions. Demonstrate respect for dif- the context of participants’ experiences mutual inquiry. Avoid merely transmitting George Rockwell is a freelance writer.

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

30 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL AUGUST 29, 2011

Looking for an Investment That Will Pay Dividends in this Economy? Invest in Knowledge

PINIONS vary on the correct answer to this employees coming out of school consider com- question. But there is one investment panies’ continuing education policies when Othat has always paid off in any economy deciding on job offers. The best talent not only – people. Your people are not fixed assets that sees executive education as a useful tool in depreciate in value and eventually have to be becoming well informed in strategic business written off. On the contrary, properly motivat- theory and practice in the shortest possible time, ed, challenged and educated people are a dynam- but they see it as an advantage of working for ic asset that will increase in value over the course their company. of their careers. Designed for busy professionals, most Mar- Knowledge and innovation will continue to shall Executive Education courses are only a few be the capital of our economy. Knowledge and days long and start at a cost of less than $1,000. innovation are not products of machinery or Using current business models and interactive software. They are products of people. Compa- case studies, courses are available in person or nies will merely survive our current tumult by online to meet individual needs. Marshall’s fac- cutting costs and people, but companies are suc- ulty can design custom program solutions to ceeding in this economy by investing in their address organizational specific issues and engage knowledge base — their people. a broad audience within a company. Few invest- That’s why companies partner with the USC ments have more impact than executive educa- Marshall School of Business Office of Executive tion – improved productivity, enhanced business Education. For more than 60 years, Marshall Exec- credibility, improved employee loyalty and utive Education has been the source that business morale, and knowledge that can be put to use professionals have turned to for developing new immediately. skills, updating their knowledge and making an Businesses that will come out on top of this impact on their organization and in their indus- economy have recognized that the intellectual try. With access to world-class faculty who are capital of its people is the engine that drives their recognized leaders in their fields and the resources organizational success. These organizations of one the nation’s most highly internationally know that most physical assets eventually ranked business schools, Marshall Executive Edu- become obsolete. It’s developing their people cation is one of the smartest investments in peo- assets and harnessing those assets’ knowledge ple that an individual or a company can make. and experience that will always yield the best In order to thrive, your people need to have return on investment. new opportunities to learn and grow. Employees cite continuing education programs as the #2 Information for this article was provided by the USC reason why they stay with their employers, Marshall School of Business Office of Executive Educa- according to the American Council on Education tion. Learn more about professional programs at in Washington, D.C. More and more new www.marshall.usc.edu/execed. Popovich Hall at the USC Marshall School of Business

We’ve got a new take on executive education. Staying still isn’t an option

Subscribe today. As part of your subscription, you will also receive access to the daily electronic Los Angeles Business Journal, unlimited on-line access to our archives, and the Book of Lists published Learn it today. Use it tomorrow. That’s the core value of USC Marshall’s at the end of the year. executive education classes. Designed for busy professionals, most in-person courses are only two to four days. And because we’re centered on your goals, we can even create a custom program tailored to your Call toll-free company’s speciﬁc needs. All classes are taught by professors with 1.800.404.5225 real-world experience, so you’ll walk away with the information you need to be more eﬀective today—and more successful tomorrow.

To view the courses designed to give you a competitive edge, go to www.marshall.usc.edu/LABJ or call [213] 740•8990. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL 31

Learning to Lead: Top 20 Leadership Tools You Can Use

By BARTON GOLDSMITH, Ph.D. feel welcomed as well as to answer any tips I have used are; first, a full helping you achieve them. Ask them what questions. Having a mentor builds confi- return/refund policy, which eliminates risk they think and you’ll get their dedication HESE are my Top 20 best practices dence and creates motivation to go above on the part of your client and encourages in return. that I have seen used by the most and beyond. them to “step up to the plate.” (By the Tsuccessful leaders. Some of these way, I have never had to give a refund 10. Implement a Knowledge Lunch. Keep are already in your toolkit, others you 7. Make sure your teams are balanced with because I always give my clients more than your team up to date by having a lunch may have forgotten. Keep this list handy both Innovators and Implementers. If they expected.) Second, never say “NO” to meeting once a week where you discuss as a reminder of time tested solutions that everyone on a team is an Innovator, noth- clients. This policy creates the opportunity your business. You can even bring in ven- will make you and your team shine. ing will get done. Similarly, a team of only for you and your client to find other ways dors and financial advisors (who will buy Implementers will create nothing new. To to do business together, rather than you the pizza) to help keep your team con- 1. Use the Power of the Pen. Recognition is make sure you have a balanced team, uti- telling them you can’t or don’t provide a nected and current. the number one motivator. A simple thank lize the free test (called the g3i) on the web particular service or product. you note is more important than money to site www.BartonGoldsmith.com 11. Deal appropriately with Fear in the most people. Break out the fancy pen you 9. Achieve goals by getting team member Workplace. When team members are in got for your birthday and say thanks to the 8. Remember that Customer Service Rocks. buy-in. If your people have input into people who helped to get you there. The two most profitable customer service your goals they will put more energy into Continued on page 32

2. Understand the Importance of Emo- tions. Feelings are a part of daily life and daily business. When people get hurt feelings they become poor performers, so make sure you deal with these issues “WOODBURY’S sooner rather than later. MOL PROGRAM BUILDS 3. Great leaders have one thing in com- ON A PROUD TRADITION mon - Passion! If you’re not turned on about what you’re doing your team won’t OF EXCELLENCE” be either, so show them that you’re excited and watch them get fired up.

4. Communication is the most important 4(92 thing in any business relationship. If you 9L[PYLK3PL\[LUHU[ don’t use effective Business Communica- tion Skills you’re leaving money on the 3VZ(UNLSLZ*V\U[` table and not getting the most out of your :OLYPMM»Z+LWHY[TLU[

.4(;;LZ[7YLW>VYRZOVW! :H[\YKH`6J[VILY MYVTHTWT 4)(0UMVYTH[PVU:LZZPVU! 5V]LTILY MYVTWT WT

If you’re not turned on about what you’re : “My Woodbury degree has proven itself invaluable. The MOL program doing your team won’t presents a practical, hands-on approach that helps you grasp the be either, so show subtleties and dynamics of the workplace as well as the all-important them that you’re political implications. excited and watch “For me, the chief beneﬁt was the opportunity to draw upon so many them get fired up. different sources of information. I was exposed to relevant material and ideas that gave me a better understanding of not only my own

people. Don’t be afraid to take a brush-up work environment, but also the whole organizational leadership course and listen to hints from those who process. Additionally, the convenience of a one year program of study are in the positions you want. Chances Reserve your seat today by calling absolutely ﬁt my needs. are they got there because they’re great communicators. 818.252.5224 “Woodbury University has the best reputation in the marketplace, and 5. Do a Company Evaluation at least once or visit www.woodbury.edu/mba I feel it is the most prestigious. It has been around since 1884 and a year. Ask your team members to email us at [email protected] boasts an enormous sense of tradition that I’m proud to be a part of.” respond in writing to important questions like, “What do we need to change?” and “What do we need to keep doing more of?” This is your most powerful tool for a fifty thousand-foot view of your business. >66+)<9@<50=,9:0;@ 6. Create a Company Mentoring Program. Graduate Programs: Master of Business Administration • Master of Organizational Leadership Every person in and entering your company should have a mentor. A mentor’s job is to help a new or junior staff member 7500 Glenoaks Blvd. • Burbank Accredited by the Western Association of Schools and Colleges and The Association of Collegiate Business Schools and Programs 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

32 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL AUGUST 29, 2011

Continued from page 31 member feel “less than”. If you mistakenly say the wrong thing to someone, apologize Why Do Students fear for their livelihood (and in these immediately. You’ll look like a responsible times perhaps fear of their lives,) they do leader rather than an insensitive bully. Like Online Learning? not perform at their highest level. Provid- ing a forum to safely talk about these fears 17. Learn to maintain your composure will go a long way toward helping achieve under pressure. Thomas Jefferson said, HY do students flock to the 10. Online course development allows for superior performance. “Nothing gives one person so much online learning environment? a broad spectrum of content. Students can advantage over another as to remain cool W With over 4 million students access the school’s library from their PC’s 12. Don’t just be a manager, be an Evange- and unruffled under all circumstances.” enrolled in online schools and universities for research articles, ebook content and list. You need to believe in what you and (and that number is growing 30% per other material without worries that the your company are doing and to share the 18. Join a Mastermind group. To keep year), there are many compelling argu- material is already “checked out.” power of that belief with your team mem- your skills sharp and get answers to diffi- ments for attending a cyber classroom. bers. A good leader can’t become great if cult questions get into a group of non- 11. Students often feel that they can actu- they don’t inspire faith in their company. competing peers. The greatest minds in 1. Students can “attend” a course at any- ally listen to the comments made by other business have used Mastermind Groups to time, from anywhere. This means that par- students. Because everyone gets a chance 13. Pursue Failure. Failure is not an ending help them excel in their chosen fields. ents can attend to their children, then sit to contribute, students are less irritated it is a stepping stone to the right answer. down to class; working students can with those that “over contribute” and can Stop beating yourself up for mistakes and 19. Learn to ask Powerful Questions. The attend classes no matter what their work ask for clarification of any comments that see them as an opportunity to begin again right question at the right time can elimi- schedule might be, folks that travel for are unclear. with additional information, knowledge nate major problems or help a team mem- business or pleasure can attend class from and experience. ber find the best answer available. anywhere in the world that has internet 12. Over 75% of colleges and universities access. in the U.S. offer online degree programs, 14. Remember that the Fish Stinks from 20. Learn to Deal with Difficult People. with online degrees as respected as “on the Head Down. That means everything There are specific techniques to deal with 2. Online learning enables student-cen- the ground” degrees. that you are responsible for everything different types of people. Learn how to tell tered teaching approaches. Every student that goes right, and anything that goes avoidance from arrogance and denial from has their own way of learning that works wrong. Remembering that leadership is insecurity. For a list of these types and best for them. Some learn visually others the most important component of your some hints for handling them, send an e- do better when they “learn by doing.” business, and that the buck stops with you mail to [email protected] will help you keep your “fish” fresh. with the words “Difficult People” in the 3. Course material is accessible 24 hours a subject line. day 7 days a week. Students have the abili- 15. Having Fun Increases Productivity and ty to read and re read lectures, discussions, Profit. In companies where people have These tried and true twenty tips will help explanations and comments. Often spo- fun, the productivity and the profit are guide you to make the right decisions at ken material in the classroom passes stu- higher. The American Psychological Associ- the right times, for the right reasons. Lead- dents by due to a number of distractions, ation has published surveys about this, and ership is an art form, and the best of the missed classes, tiredness or boredom. itÂ¹s a fact. Take the example of Southwest best use many of these proven techniques. Airlines - do you know that “a sense of 4. In an online environment, attendance humor” is on their job application?! Dr. Barton Goldsmith is a keynote speaker, busi- to class is only evident if the student actu- ness consultant and nationally syndicated ally participates in classroom discussion. 16. Beware of Invalidation. The number author. He may be contacted through his web site This increases student interaction and the With over 4 million one motivation killer is making a team BartonGoldsmith.com or at (818) 879-9996. diversity of opinion, because everyone gets a say, not just the most talkative. students enrolled in online schools and 5. Online instructors come with practical universities, there knowledge and may be from any location across the globe. This allows students to be are many compelling exposed to knowledge that can’t be learned arguments for in books and see how class concepts are attending a cyber applied in real business situations. classroom. 6. Using the internet to attend class, research information and communication with other students teaches skills in using 13. Online classrooms also facilitate team technologies that will be critical to work- learning by providing chatrooms and ers in the 21st century business communi- newsgroups for meetings and joint work. ty that works with colleagues globally and This eliminates the problems of mis- across time zones. matched schedules, finding a meeting location and distributing work for review 7. Participating online is much less intimi- between meetings. dating than “in the classroom.” Anonymi- ty provides students a level playing field 14. Students often comment that online undisturbed by bias caused by seating learning lets them attend class when fully arrangement, gender, race and age. Stu- awake and attend in increments of conve- dents can also think longer about what nient time block, rather than rigid 2 or 4 they want to say and add their comments hour stretches once or twice a week. when ready. In a traditional class room, the conversation could have gone way 15. Because there are no geographic barri- past the point where the student wants to ers to online learning, students can find a comment. diversity of course material that may not be available to them where they live or 8. Because online institutions often offer work. This is especially true for profession- “chat rooms” for informal conversation al training such as medical billing training between students, where student bios and or purchasing training and for students in non class discussions can take place, there remote rural areas that cannot support col- appears to be a increased bonding and cama- lege or vocational training centers. raderie over traditional class environments. While “brick and mortar” institutions will 9. The online environment makes instruc- never be eliminated, it’s easy to see why a tors more approachable. Students can talk growing number of people are attending openly with their teachers through online class in the cyber world. They may be rea- chats, email and in newsgroup discus- sons of accessibility, flexibility or quality, sions, without waiting for office hours that all compelling and contributing to the may not be convenient. This option for attractiveness of this mode of learning. communication provides enhanced contact between instructors and students. Information Provided by WorldWideLearn. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page PPRRIIVVAATTEE August 29, 2011 AAVVIIAATTIIOONN A Busiiness Guiide For The Executiive Traveller

IINNSSIIDDEE:: • Southern California’s Irreplaceable Asset The crucial role Van Nuys Airport plays for the Valley and beyond… • Spotlight on Camarillo From Air Force base to general aviation airport…

• Business Aviation: A SUPPLEMENT TO: Driving Economic Force Los Angeles Business Journal A look at one company’s example San Fernando Valley Business Journal of growth and economic San Diego Business Journal stimulation… Cover Photo courtesy of Sun Air Jets 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

34 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL AUGUST 29, 2011

I captured the power of an idea

and built a company around it.

I’ve always been geared for

success, but I never realized

how complicated it could be.

I need someone who knows

what it’s like to be me.

With you when \RXU DVSLUDWLRQV DUH VLPSOH EXW \RXU VWRU\ LV QRW

It all starts with the belief that you can. And when success arrives, you need skillful guidance to help manage the complexities of your ﬁ nancial life. With Wells Fargo Private Bank, you’ll have a dedicated team of professionals who take the time to know you and understand your unique needs—you won’t see a parade of unfamiliar strangers. Generations have built, managed and preserved their wealth with the help of Wells Fargo. So no matter what your story, you can rely on our strength, stability and teamwork to help you move forward with conﬁ dence. To learn more about our distinctive solutions, contact:

Scott P. Hansen, CFP® Senior Vice President, Regional Director (805) 777-8375

Wealth Planning Q Banking Q Trust Q Investments Q Insurance Q Family Wealth

Wells Fargo Private Bank provides financial services and products through Wells Fargo Bank, N.A. and its affiliates. Deposit and loan products offered through Wells Fargo Bank. N.A. Member FDIC. Insurance products are available through Insurance subsidiaries of Wells Fargo & Company and underwritten by non-affiliated Insurance Companies. Not available in all states. © 2010 Wells Fargo Bank, N.A. All rights reserved. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL 35 PRIVATE AVIATION The Valley’s Irreplaceable Asset he city of Los Angles and the San Fer- Forty years ago, most business jet travel nando Valley have an asset that may was in the Continental U.S. or Canada. Tbe its most valuable of all assets. It Today, long range jets can depart VNY and helps bring big time business deals to the travel non-stop to all the major business Los Angeles area, and that asset is Van centers of Europe, Japan and one stop to FBO Services Nuys Airport. If Van Nuys Airport was ever most of the World Business Centers. closed it could not be replaced, as no large parcel of land exists that is even a Time Machines Aircraft Maintenance reasonable distance to Los Angeles For these reasons today’s business jets business centers. For these reasons VNY are truly time machines that can take you Aircraft Management must be protected. any place in the world. Depart from VNY Over 200 business jets are based at at 5 PM; you can have dinner, sleep eight VNY that belong to businesses in the Los hours and arrive in Dusseldorf before noon Flight Support Services Angeles Basin. They regularly fly out of for lunch and business meetings. Then the VNY to one of 5,000 airports available to next day visit two or three European cities, them or to thousands of worldwide desti- and the third day leave Paris at 5 PM and On Demand Charter nations (airlines only serve 450). arrive at VNY at 8 PM, having spent over Every week more than eight business two productive days in Europe. jets based at VNY depart for Europe or the The past two years there have been Property Leasing Far East. They are business tools like the several discouraging remarks out of world has never seen, until the past 40 Washington; critical of using business jets, years. Business jets bring the business which has hurt the image of business men world together; almost every medium to using these tools. It is a shame some large company depends on them. people in Washington are so ill informed. When the Learjet was new in 1964, Also over half of all business jets built Bill Lear purchased a sign near the termi- today are foreign sales, and are a huge nal exit at the Dallas Airport that read, item for balance of trade. “Welcome to Dallas, your competition has Business aircraft count for over 150 bil- been here and left in his Learjet.” Today lion dollars into the U.S. economy and this is true if your company does not own generate over 1.2 million highly paid jobs. or charter a business jet. Our President uses Air Force One every A study that was conducted by the City week and could not make his scheduled of Los Angeles showed that VNY added meetings without it. This country’s busi- 1.5 billion dollars to the local economy ness men who produce the jobs and the and accounted for over 10,000 jobs direct- taxes that is our country’s income cannot ly and indirectly. VNY is the single largest operate without business jets. economic engine in the Valley. Please see page 37

CHARTER | FRACTIONAL SHARES | AIRCRAFT SALES | MAINTENANCE | MANAGEMENT

It takes a passion for the industry and a lifetime of experience to provide reliable end-to-end business travel solutions.

With our full line of aviation options at West Coast Aviation Services, every angle is covered; every detail managed. Once you experience it IRU WKH ¿UVW WLPH \RX¶OO ZRQGHU ZKDW WRRN \RX VR ORQJ WR JHW KHUH

805-389-9301 www.sunairjets.com 19711 Campus Drive, Suite 150 | Santa Ana, Ca. 92707 | 800.352.6153 855 Aviation Drive, Camarillo, California 93010 www.WestCoastAviationServices.net 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

36 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL AUGUST 29, 2011

HEALTHCARE REGULATIONS ARE CHANGING. AND WHAT YOU DON’T KNOW WILL COST YOU.

New rules are coming, and they’re massive s Discrimination testing of highly compensated employees could result in major ﬁnes s Economic reporting of W-2s starts in January s Do you know if your plan is grandfathered or not? s What must your company do as the PPACA rolls out over the next few years? s It’s time to ﬁnd out. THESE CHANGES WILL IMPACT ALL BUSINESSES AND ALL EMPLOYEES.

Free seminar for business owners, CEO’s, CFO’s and HR managers. WHAT EMPLOYERS NEED TO KNOW ABOUT THE CHANGES IN HEALTHCARE REGULATIONS Wednesday, October 5, 2011 4:00 PM to 6:00 PM Space Vector Corp Meeting Room 9174 Deering Avenue Chatsworth, CA For reservations, call (818) 901-6500 or email [email protected]

Only 50 seats available, preregistered guests only. You must bring your business card for veriﬁcation. Insurance agents and brokers will not be admitted.

Sponsored by

Planned 818-901-6500 Approach 16644 Roscoe Blvd. Benefits Van Nuys, CA 91406 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL 37 PRIVATE AVIATION CMA: From Air Force Base to Irreplaceable Asset Continued from page 35

Van Nuys Airport 1927 - Present General Aviation Airport Van Nuys Airport (VNY), started life in 1927 as Metropoli- tan Airport. A 1928 brochure touted the airport had opened he Camarillo Airport is posi- air defense protection for the South- nance, flight training, pilot supplies, fields in all directions, and that an electric train provided fast tioned midway between Los ern California area. In December and ultralight flight facilities and transport to Los Angeles. By 1930 three aircraft manufactur- Angeles World Airport and 1969 the Department of Defense training. The airport also plays host ing companies were located at VNY. Santa Barbara Airport. The deactivated Oxnard Air Force Base to some 20 non-aviation businesses During WWII, the government took over VNY and turned it TCamarillo Airport is located on the and transferred its aircraft and per- providing a varying range of servic- into an Army Air Corps base, sharing with Lockheed, building southwest corporate limits of the sonnel to other facilities, the land es. These businesses are located thousands of aircraft for WWII. After the war the government City of Camarillo and is classified as then became surplus property. throughout the airport’s business sold VNY to the city of Los Angeles for one dollar with the pro- a general aviation reliever airport for The County of Ventura acquired park, which is located on the south vision, it must remain an airport in perpetuity. The California the Los Angeles area. 60 buildings along with an agree- end of the airport. As the region Air National Guard was also based at VNY from 1947 to 1985. In 1942 when the California ment to provide limited air service grows, Camarillo Airport will be In the 1950’s, the ANG had 60 jet fighters based at VNY. In State Highway Department con- to general aviation and a 6,000 foot ready to play its role in serving the 1958 with Federal funding the runway was lengthened from structed an auxiliary landing field runway. In 1985 airport manage- needs of general and business avia- 6,000 feet to the current 8,000 feet plus 1,000 feet overrun with a 5,000 foot runway, the Army ment created the County of Ventura tion in Ventura County. area for the ANG. It was that runway extension that made Corps of Engineers extended the Department of Airports and placed The Department of Airports is VNY the great Business Jet Airport it is today. runway to 8,000 feet. Additional both Oxnard and Camarillo Airports currently working on a series of The complexion of VNY has changed the last 40 years, construction on the then-named "under its wings" as a new agency. projects aimed at maintaining exist- from an Air National Guard and General Aviation Airport, to Oxnard Air Force Base neared com- Camarillo Airport has progressed ing facilities and services. Plans are today’s Los Angeles Area Business Airport. In 1975, approxi- pletion in 1957 and the base was from a sleepy, tower-less facility to a under way on construction of a par- mately 1,450 airplanes were based at VNY, of which, about equipped with the Northrop F-89 bustling reliever airport with an FAA allel taxiway. The Waypoint Café 20 were business jets. Today less than 600 total airplanes "Scorpion" aircraft as part of the Los air traffic control tower and annual has undergone a recent makeover are based here, with about 220 being business jets. Fewer Angeles area Air Defense Com- operations numbering nearly and is known throughout the indus- piston planes are based at VNY, and the population of piston mand. By 1958 the new Air Force 190,000. Today the airport boasts a try as one of the best airport cafes airplanes is diminishing. The primary reason is high cost and base boasted four alert hangars, diverse collection of over 560 piston around. The award-winning FBO, more regulations, it just isn’t as practical as it once was. concrete ramps, and a 9,000 foot and jet aircraft, home built and Sun Air Jets, has recently completed New manufacturing of piston aircraft has dropped from over runway. The sophisticated runway WWII aircraft with active chapters the last phase of planned growth on 16,000 per year in 1978, to less than 2,000 in 2010. In and facilities included an entire of the Experimental Aircraft Associa- the 12-acre facility; with this latest addition, at VNY, higher land rent is causing increased stor- community with administration tion and the Commemorative Air addition, its five hangars total about age fees, and has driven many airplanes out to Whiteman, buildings, enlisted housing, recre- Force. With increasing congestion in 123,000 square feet with an addi- Camarillo and other airports. ational facilities, a theater, and even the Los Angeles basin, pilots and air- tional 20,000 square feet for its The past three years and the economy has affected the a gas station. In 1960, the superson- craft owners find Camarillo's loca- executive terminal. Through these number of hours flown by business jets. Businesses how- ic McDonnell Douglas F-101B tion, size, and weather to be signifi- projects, the Camarillo Airport will ever, continue to use their airplanes or charter, as they "Voodoo" interceptor aircraft, cant factors in using the airport. continue to be a valuable asset to aggressively look for ways to improve the economy. equipped with "Genie" tactical The airport is home to nearly 25 the County of Ventura and the sur- So when you hear or see a Business Jet taking off or nuclear missiles served there for aviation related business. These rounding community. landing at VNY, it is probably on a mission to help you, almost a decade. businesses provide such services as Los Angeles and our Valley. Keep them flying VNY! For nearly eighteen years, dedi- ground handling services, aircraft For more information, contact cated Air Force personnel provided charter and rentals, aircraft mainte- Christine Elwess at (805) 389-9301 Information for this article was provided by Clay Lacy.

Fueling your aircraft at VNY just got easier.

For more than a year we’ve provided fueling services to transient aircraft at our premier, full-service FBO at Van Nuys Airport. And we continue to expand our operation, with a new hangar and enlarged ramp in the works. Our convenient mid-field location, elegant facility and experienced team are ready for your arrival. You’ll enjoy the same personalized attention that Castle & Cooke Aviation has been giving our Fortune 500 clients for the past three decades. Come see what you’ve been missing!

Van Nuys, California • Everett,Washington • Honolulu, Hawai‘i • La¯na‘i, Hawai‘i castlecookeaviation.com • (818) 988-8385 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

38 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL AUGUST 29, 2011

www.JacobyLimo.com www.KeoniLimo.com CALIFORNIA KAUAI, HAWAII TCP #16524P PUC #3584-C

Our ofﬁce is located at Van Nuys Airport We provide chauffeur-driven services to corporations We always have drivers and cars on site! and individual travelers throughout the Kauai Island.

AIRPORT TRANSFERS • BUSINESS MEETINGS • CONVENTIONS • TRADE SHOWS • ARMED SECURITY AVAILABLE ON-LINE TRAVEL BOOKING • CONCERTS/THEATRES • WEDDINGS • SPORTING EVENTS • ANNIVERSARIES PROMS/GRADUATIONS • NIGHTS OUT • DAY TRIPS • LUAU, SIGHT SEEING • WAIMEA/CANYON TRIPS PREMIERES/AWARD SHOWS • MOVIE SHOOTS • CASINO TRIPS • SHOPPING EXCURSIONS • FUNERALS

RESERVATIONS: 866.900.2031 TOLL FREE LUXURY LINCOLN TOWN CAR • 818.763.2031 CALIFORNIA OFFICE DULUXE DENALI SUV • 818.763.2315 CALIFORNIA FAX STRETCH LINCOLN LIMOUSINE • 808.343.4610 HAWAII OFFICE PASSENGER VANS • 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL 39 PRIVATE AVIATION Business Airport and its Service Providers are a Driving Economic Force he Van Nuys airport in the center of delivered to our clients for over 30 years.” the San Fernando Valley is not only David H. Murdock, Castle’s Chief Tone of the most important and Executive Officer and owner, has been busiest General Aviation airports in the operating at Van Nuys Airport for almost world, but also a driving economic force four decades, starting with his Lear 25 in in the Valley. The airport contributes sig- the early 1970’s. Today, his flight depart- nificantly to the Valley economy and pro- ment includes Dole Foods’ Global Express vides permanent employment, tax revenue and shares hangar and offices with aircraft and real estate rental revenue to Los Ange- owned by the region’s top corporations les World Airports (LAWA). LAWA is the Van Nuys Airport’s new hangar. and business leaders. The airport provid- city department that owns the airport ing the starting point and ending point for along with LAX and ONT airports. & Cooke Aviation. The company is experi- office and shop space. These develop- an untold number of business trips for In fact, LAWA states that the Van Nuys encing its second year of expansion as a ments provide even more value to airport Castle, Dole and indeed many, many other airport contributes “more than $1.3 billion full-service FBO at the Airport. After more users, provide more private investment in successful businesses. each year to the Southern California econ- than 30 years of operation as a private Cor- the City’s asset and will be an enhance- Murdock’s diversified businesses have omy, creates jobs, promotes business and porate Aviation facility providing full opera- ment that lasts for decades. operations in over 24 states and with his provides critical general aviation and tional support in hangar facilities, fueling With a network of three first-class FBO involvement with Dole Food Company, emergency services. Business travelers and and all aircraft support services to based facilities on the West Coast and in Hawaii Inc., 90 countries around the world. Castle tourists using private, corporate and char- operations ranging from owner operators to we offer flight departments favorable fuel & Cooke, Inc. is involved in the develop- ter aircraft benefit from the airport's con- charter and management companies, as pricing, outstanding aviation services and ment and ownership of real estate, venient proximity to city business, recre- well as several Fortune 500 clients, Castle safety, and a commitment to exceptional including master planned communities ation and entertainment centers. The air- & Cooke became a full-service Fixed Base customer service. In addition to Van such as Lake Sherwood in Thousand Oaks, port also provides a base and maintenance Operation (FBO) early last year and will be Nuys, Castle & Cooke operates FBOs in California, Mililani Town on the Island of facilities for fire, police, air ambulance, expanding its operations to accommodate Honolulu, Hawaii (PHNL) and Everett, Oahu, Hawaii, and Keene’s Pointe in search and rescue, and news media air- the increase in transient aviation customers. Washington at Paine Field (KPAE) giving Orlando, Florida, as well as the Four Sea- craft that serve the region.” Along with the hiring of additional cus- the Van Nuys Airport an important and sons Hotel and conference center in West- Van Nuys airport also plays an impor- tomer service and support staff, Castle & direct link between three important busi- lake Village, California. In Hawaii, the tant role in relieving airport congestion at Cooke Aviation will commence construc- ness and leisure centers that are frequent company owns 98% of the island of LAX which in turn reduces traffic impacts to tion in the 4th quarter of this year to create destinations from the airport. Lanai and two award-winning Four the region. This is an important factor for a new transient ramp and add additional Craig Walker, Vice President, Opera- Seasons Hotels. safety and efficiency in the entire region. hangar capacity.The new ramp expansion tions and Development added: “with the All of this enhanced, supported and The location of the airport and its world will provide the additional space for tran- continued growth at Van Nuys, our suc- made more efficient by the valuable city class facilities are major reasons that many sient aircraft arriving and departing from cess in the Seattle area at our Paine Field asset in the middle of the Valley that is local companies and individuals make Van Nuys. Additional plans include build- location as well as our goal to expand our called Van Nuys Airport. VNY the base for their aircraft. ing nearly 40,000 square feet of new Hawaii operations to both Maui and the An example of a long-time employer hangar space, as well as approximately Kona we are focused on continuing to pro- Information for this article was provided by and service provider at the airport is Castle 15,000 square feet of adjoining class-A vide the high level of service we have Tony Marlow of Castle and Cooke Aviation. The world’s local meeting place. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

40 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL AUGUST 29, 2011

Reach for the sky. And get down to business.

Providing your one-stop general aviation resource…

&RQYHQLHQW SULYDWH IOLJKWV WR DQG IURP WKH KHDUW RI WKH 6DQ )HUQDQGR 9DOOH\ 7KH WLPH DQG PRQH\VDYLQJ DELOLW\ WR WUDYHO RQ \RXU RZQ VFKHGXOH ZLWK QR ZDLWV (DV\ DFFHVV WR DQ RQVLWH KRWHO DQG UHVWDXUDQWV

$ IXOO UDQJH RI DYLDWLRQ VHUYLFHV IURP IL[HG EDVHG RSHUDWRUV DQG SOXV EXVLQHVVHV

Meeting all of your corporate and recreational aviation needs…

$LUFUDIW PDLQWHQDQFH IXHOLQJ DQG SDUNLQJWLHGRZQ $LUFUDIW VDOHV DQG VWRUDJH &KDUWHU VHUYLFH IRU EXVLQHVV RU SOHDVXUH LQFOXGLQJ WRXUV )OLJKW DQG JURXQG VFKRRO LQVWUXFWLRQ $QG PXFK PRUH

It’s all here for you at Van Nuys Airport.

9DQ 1X\V $LUSRUW LV«

$ ZRUOGFODVV JHQHUDO DYLDWLRQ IDFLOLW\ ZLWK DSSUR[LPDWHO\ WDNHRIIV DQG ODQGLQJV DQQXDOO\

+RPH WR RYHU SURSHOOHU DLUFUDIW MHWV DQG KHOLFRSWHUV RQ DFUHV RI ODQG

$ YLWDO HFRQRPLF HQJLQH FRQWULEXWLQJ RYHU ELOOLRQ DQQXDOO\ WR WKH ORFDO HFRQRP\ DQG VXSSRUWLQJ PRUH WKDQ MREV

7KH VLWH RI RQH RI &DOLIRUQLD·V WRS DLUFUDIW PHFKDQLF VFKRROV 9DQ 1X\V

AUGUST 29, 2011 DATA BANK LOS ANGELES BUSINESS JOURNAL 41

CONVENTIONS Startup Do’s and Don’ts Beverly Hilton CALENDAR Sponsor: VEDC 9876 Wilshire Blvd., Beverly Hills 4 p.m. $30 • Apartment Owners of Southern California Tuesday, Aug. 30 5121 Van Nuys Blvd., Van Nuys (310) 248-1000 Sept. 8 $10 Introduction to Federal Contracting (323) 937-8811 (818) 907-9922 Sponsor: Federal Technology Center Tuesday, Sept. 13 9 a.m. Charity Golf Day Wednesday, Sept. 7 • Senior Clean Air Fair VEDC Sponsor: thinkLA Sept. 15 5121 Van Nuys Blvd., Van Nuys Breakfast Mixer 8 a.m. (909) 396-2221 Free Sponsor: Sherman Oaks Chamber of Commerce Moorpark Country Club (866) 382-7822 7:30 a.m. 11800 Championship Drive, Moorpark Maria’s Italian Kitchen $100-$800 (sponsorships up to $15,000) • Wizard World Comic Con Real Estate Bankruptcies 13353 Ventura Blvd., Sherman Oaks (310) 823-7320 Sept. 24-25 Sponsor: Beverly Hills Bar Association $35 (646) 380-2475 Noon (818) 906-1951 Networking Lunch Lawry’s Sponsor: Long Beach Area Chamber of Commerce Fall Home and Garden Show 100 N. La Cienega Blvd., Beverly Hills Business Card Exchange 11:30 a.m. • $125 Sponsor: Santa Fe Springs Chamber of Commerce Parkers’ Lighthouse Sept. 30 (310) 601-2423 7:30 a.m. 435 Shoreline Drive, Long Beach (800) 999-5400 Heritage Park $30 (RSVP required) Speed Networking 12100 Mora Drive, Santa Fe Springs (562) 436-1251 Ultimate Women’s Expo Sponsor: Santa Monica Chamber of Commerce • $25 Oct. 1-2 5:30 p.m. (562) 944-1616 Intro to Business Statements (866) 618-3434 1234 Sixth St., Santa Monica Sponsor: VEDC $25 Lunch Mixer 4 p.m. (310) 393-9825 Sponsor: Pasadena Chamber of Commerce 5121 Van Nuys Blvd., Van Nuys • Grow 11:45 a.m. $10 Oct. 1-2 Wednesday, Aug. 31 Altadena Town & Country Club (818) 907-9922 [email protected] Networking Breakfast 2290 Country Club Drive, Pasadena $30 Sponsor: Greater San Fernando Valley Chamber of Wednesday, Sept. 14 Green Festival L.A. (626) 795-3355 • Commerce Guerilla PR Tactics Oct. 29-30 7:15 a.m. Sponsor: Beverly Hills Chamber of Commerce (800) 584-7336 Braemar Country Club Proposition 13 5:30 p.m. 4001 Reseda Blvd., Tarzana Sponsor: Coro Southern California Center Mercedes-Benz of Beverly Hills $35 for Civic Leadership 9250 Beverly Blvd., Beverly Hills • Blogworld & New-Media Expo (818) 989-0300 6:30 p.m. $30 Nov. 2-5 CSUN (310) 248-1000 (858) 366-2962 Thursday, Sept. 1 18111 Nordhoff St., Northridge Free Foreclosure Workshop Business to Business Breakfast (213) 346-3218 West Coast Franchise Expo Sponsor: California Foreclosure Institute • Sponsor: Alhambra Chamber of Commerce Nov. 4-6 8 a.m. 5:30 p.m. (201) 881-1658 Almansour Court Thursday, Sept. 8 Lloyd Taber-Marina del Rey Library 700 S. Almansour St., Alhambra Breakfast Mixer 4533 Admiralty Way $5 Sponsor: Pasadena Chamber of Commerce Free • Comikaze Expo (626) 282-8481 7 a.m. (310) 379-0101 Nov. 5-6 University Club of Pasadena [email protected] Tuesday, Sept. 6 175 N. Oakland Ave. To be considered for publication, Calendar listings $30 should be submitted at least three weeks in advance Using LinkedIn for Job Search and Networking (626) 795-3355 of the event. Listings can be submitted by e-mail to • L.A. Auto Show Sponsor: Challenger Networking Group [email protected] or by mail to: Nov. 18-27 Noon LAAutoShow.com Zen Buffet Friday, Sept. 9 Los Angeles Business Journal 21610 Victory Blvd., Woodland Hills Networking Breakfast Calendar $11 (for lunch) Sponsor: Beverly Hills Chamber of Commerce 5700 Wilshire Blvd. #170 (818) 992-4270 8 a.m. Los Angeles, CA 90036 L.A. Convention Center, (213) 741-1151, ext. 5340

Doc# LA11-41144-BB Assets: $1,600 Long Beach 90803 M-L Oil - MLOC Corp. BANKRUPTCIES File-Date: 07/21/11 Debts: $296,106 Chapter: 7 (Business type N/A) Miguel Montes Doc# LA11-41250-RN Assets: $81,897 11620 Wilshire Blvd., Suite #850 Orotek L.P. 626-443-3001 File-Date: 07/21/11 Debts: $202,307 L.A. 90025 (Business type N/A) Halie Leonard Doc# LA11-41452-RN Chapter: 7 1801 E. 41st Place Pacific Management Ventures Inc. 424-248-6678 File-Date: 07/22/11 Assets: N/A L.A. 90058 (Business management) Michael D. Franco Debts: N/A Chapter: 11 611 S. Central Ave. Integrated Air Conditioning 714-442-3623 Doc# LA11-41739-BR Assets: N/A L.A. 90021 & Electrical Inc. File-Date: 07/25/11 Debts: N/A Chapter: 7 (A/C and electrical) Whittier Drum and Vacuum Charles Shamash Doc# LA11-40924-SK Assets: $0 1532 Sinaloa Ave (Environmental transportation) 310-205-3400 File-Date: 07/20/11 Debts: $100,000 Pasadena 91104 1339 Imperial Highway Ovsanna Takvoryan Doc# LA11-41183-BR Chapter: 7 Whittier 90605 LB/L-DS Ventures Playa Del Rey LLC 818-291-6272 File-Date: 07/21/11 Assets: $0 Chapter: 7 (Single-asset real estate) Jaenam J. Coe Debts: $155,978 Assets: $0 6399 Wilshire Blvd., Suite #208 Mecca Seven Properties Inc. 213-389-1400 Doc# LA11-41251-EC Debts: $739,655 L.A. 90048 (Investment) File-Date: 07/21/11 Doc# LA11-41523-PC Chapter: 11 741 W. 24th St., Suite #17 TLC Investment Inc. Leanna Sleaster File-Date: 07/23/11 Assets: $5,000,000 San Pedro 90731 (Real estate, mortgage services) 626-301-4477 Colin J. McKibbin Debts: $1,840,093 Chapter: 7 713 W. Duarte Road, #E 714-963-5486 Doc# LA11-41806-ER Assets: N/A Arcadia 91007 Spring Funding Corp. File-Date: 07/26/11 Debts: N/A Chapter: 7 (Business type N/A) Maciel Inc. Mark S. Horoupian Doc# LA11-40943-BB Assets: $5,580 1412 E. Artesia Blvd. DBA: El Taco-Nazo 213-626-2311 File-Date: 07/20/11 Debts: $203,862 Long Beach 90805 (Business type N/A) Lynne Romano Doc# LA11-41235-BR Chapter: 7 18013 Valley Blvd. Cielo Tower LLC 626-552-0270 File-Date: 07/21/11 Assets: $1,430 La Puente 91744 (Real estate) Matthew D. Resnik Debts: $288,156 Chapter: 7 1801 Wilshire Blvd. Woodland Arc Properties Inc. 213-572-0800 Doc# LA11-41339-BR Assets: N/A L.A. 90057 (Investment) File-Date: 07/21/11 Debts: N/A Chapter: 7 18375 Ventura Blvd., Suite #423 Infinity Air Conditioning & Electrical Inc. A. Dinah Trenk Doc# LA11-41599-RN Assets: $1,500,200 Tarzana 91356 (A/C and electrical) 818-786-0090 File-Date: 07/25/11 Debts: $2,024,225 Chapter: 7 1532 Sinaloa Ave. Robert L. Williams Doc# LA11-41864-PC Assets: N/A Pasadena 91104 TDL Investments Inc. 714-505-4202 File-Date: 07/26/11 Debts: N/A Chapter: 7 (Single-asset real estate) Kelly R. Cha Doc# SV11-18692-VK Assets: $0 9018 Balboa Blvd., Unit #515 MDB Artistes LLC 213-382-9490 File-Date: 07/20/11 Debts: $801,363 Northridge 91325 FDBA: Cafe Des Artistes Lynne Romano Doc# LA11-41245-PC Chapter: 7 (Restaurant) Hardrock Electronics Inc. 626-552-0270 File-Date: 07/21/11 Assets: N/A 1534 N. McCadden Place (Wholesale car stereo) Leanna Sleaster Debts: N/A Hollywood 90028 7901 Somerset Blvd, #D Kim’s Investment 626-301-4477 Doc# SV11-18758-AA Chapter: 7 Paramount 90723 (Business type N/A) File-Date: 07/21/11 Assets: $170,092 Chapter: 7 555 S. Wilton Place Update Fabric II Corp. Pro-per. Debts: $784,692 Assets: $0 L.A. 90020 (Fabric sales) Doc# LA11-41704-BB Debts: $103,421 Chapter: 7 740 E. Pico Blvd., Unit #128 Tuned In Media Inc. File-Date: 07/25/11 Doc# LA11-41899-BB Assets: $0 L.A. 90021 (Business type N/A) Steven L. Bryson Debts: $21,000 Chapter: 7 530-101 Stoneham Court 310-477-4555 Please see page 42 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

42 LOS ANGELES BUSINESS JOURNAL DATABANK AUGUST 29, 2011

Hassen Imports Partnership Doc# LA11-42298-PC Rose Image Group Inc. Debts: N/A Continued from page 41 (Motor vehicle dealer) File-Date: 07/28/11 (Photo finishing) Doc# SV11-19183-AA 100 N. Barranca Ave., Suite #900 Carolyn A. Dye 1047 S. Grand View St. File-Date: 08/01/11 West Covina 91791 213-368-5000 L.A. 90006 Lynne Romano File-Date: 07/26/11 Chapter: 11 Chapter: 7 626-552-0270 Jaenam J. Coe Assets: N/A 213-389-1400 San Marcos LLC Assets: $0 Debts: N/A (Business type N/A) Debts: $20,800 11848 Morepark Partnership Doc# LA11-42068-TD 10702 Hathaway Drive, #1 Doc# LA11-42535-EC (Business type N/A) Unique Wireless Inc. File-Date: 07/27/11 (Business type N/A) Santa Fe Springs 90670 File-Date: 07/29/11 12602 Ventura Blvd. Marina Fineman Chapter: 11 Jaenam J. Coe Studio City 91604 20929 Ventura Blvd., Suite #325 310-228-5670 Woodland Hills 91364 Assets: N/A 213-389-1400 Chapter: 7 Chapter: 7 Debts: N/A Assets: N/A ML Properties Inc. Doc# LA11-42306-BB Kiddieland LLC Debts: N/A Assets: N/A (Business type N/A) File-Date: 07/28/11 (Business type N/A) Doc# SV11-19200-VK Debts: N/A 2862 W. Eighth St. T. Edward Malpass 4006 W. 59th Place File-Date: 08/01/11 Doc# SV11-18949-VK L.A. 90005 949-474-9944 L.A. 90043 Rachel S. Ruttenberg File-Date: 07/26/11 Chapter: 7 Chapter: 7 818-783-8866 Pro-per. Assets: N/A Debts: N/A Infinity Funding Corp. Assets: N/A Urban Corner Inc. Doc# LA11-42127-BB (Business type N/A) Debts: N/A Dallas Partners LLC (Business type N/A) File-Date: 07/27/11 6930 Atlantic Ave. Doc# LA11-42713-EC (Business type N/A) 3100 E. Imperial Highway, #110 Lauren Womack Bell 90201 File-Date: 08/01/11 15485 Ventura Blvd Lynwood 90262 213-384-3326 Chapter: 7 Fred Dorton Jr. Sherman Oaks 91403 Chapter: 7 Assets: N/A 310-598-6486 Chapter: 11 Assets: N/A EMAE International Corp. Debts: N/A Assets: $1,393,060 Debts: N/A 13744 Milroy Place Doc# LA11-42316-BB Velanjac Corp. Debts: $3,660,442 Doc# LA11-41977-BB Santa Fe Springs 90670 File-Date: 07/28/11 (Single-asset real estate) Doc# SV11-19209-AA File-Date: 07/27/11 Chapter: 7 Steven Ibarra 4165 Verdugo Road File-Date: 08/01/11 Michael Jay Berger Assets: $8,214,968 562-735-0828 L.A. 90065 Michael Jay Berger 310-271-6223 Debts: $9,252,918 Chapter: 7 310-271-6223 Doc# LA11-42270-PC National Sonic Inc. Assets: $100,000 Garment Nation Inc. File-Date: 07/28/11 DBA: Red Brick Pizza Debts: $239,609 MC Aviation Corp. (Manufacturing/wholesale garment wear) Thomas C. Corcovelos (Restaurant) Doc# LA11-42767-EC (Airplane management and charter) 930 S. Alameda St. 310-374-0116 4153 Milton Ave. File-Date: 08/01/11 7530 Hayvenhurst Ave. L.A. 90021 (Construction contractor) Culver City 90232 Pro-per. Van Nuys 91406 Chapter: 11 Chapter: 7 Chapter: 11 Assets: N/A Sav-On Surplus Inc. Assets: $5,000 Fresno Inn at Parkway LLC Assets: $1,531,294 Debts: N/A (Business type N/A) Debts: $193,207 (Property management) Debts: $2,872,538 Doc# LA11-42021-ER 12711 Hawthorne Blvd. Doc# LA11-42371-BB 5042 Wilshire Blvd., #541 Doc# SV11-19214-VK File-Date: 07/27/11 Hawthorne 90250 File-Date: 07/29/11 L.A. 90036 File-Date: 08/01/11 Rosendo Gonzalez Chapter: 7 Paul A. Beck Chapter: 7 Steven R. Fox 213-452-0070 Assets: $69,075 818-501-1141 Assets: $567 818-774-3545 Debts: $433,886 Debts: $4,579,406 Soobi Inc. Doc# LA11-42273-PC Color Spectrum Network Inc. Doc# LA11-42817-RN Force-JRG LLC Askauma Japanese Restaurant File-Date: 07/28/11 (Folding carton printer) File-Date: 08/01/11 (Single-asset real estate) (Restaurant) Ron Bender 180 N. Glendora, Suite #203 Ronald A. Norman 626 E. 62nd St. 17001 Wilshire Blvd., Suite #15 310-229-1234 Glendora 91741 310-753-7143 L.A. 90001 L.A. 90025 Chapter: 11 Chapter: 11 Chapter: 7 Solar Drive LLC Assets: N/A Calvert Tarzana Inc. Assets: N/A Assets: 0 (Single-asset real estate) Debts: N/A (Investment) Debts: N/A Debts: $807,539 2450 Solar Drive Doc# LA11-42383-ER Doc# LA11-42045-BR L.A. 90046 18375 Ventura Blvd., Suite #423 Doc# LA11-43051-EC File-Date: 07/27/11 Chapter: 11 File-Date: 07/29/11 Tarzana 91356 File-Date: 08/03/11 Kenneth Chong Assets: N/A Andrew A. Goodman Chapter: 7 Dennis E. McGoldrick 213-381-6100 Debts: N/A 818-887-2500 Assets: N/A 310-328-1001 EVENT Is your CFO one of the best in Los Angeles?

The CFO of the Year Award is presented to financial professionals PRESENTING SPONSORS: in Los Angeles for their outstanding performance as corporate financial stewards. Awards will be given in the following categories: Small Public Company, Large Public Company, Small Private Company, Large Private Company and Non-Profit Organization. Awards Luncheon: PLATINUM SPONSORS: Wednesday, September 7, 2011 11:00am – 1:30pm Millennium Biltmore Hotel GOLD SPONSORS: Community Bank PricewaterhouseCoopers 506 S. Grand Ave., Los Angeles, CA 90071 Moss Adams LLP Wedbush Bank

For sponsorship information, For more information please visit call your account representative www.labusinessjournal.com/bizevents at 323.549.5225 or email [email protected] 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 INVESTMENTS & FINANCE LOS ANGELES BUSINESS JOURNAL 43

ECONOWATCH L.A.COUNTY

%± from GENERAL INDICATORS Latest Previous previous Year %± from period period period ago year ago 1 Staying Employment (000’s) (July) ...... 4,216.2 4,237.6 -0.5% 4,899.0 -13.9% Unemployment (000’s) (July)1 ...... 645.2 600.2 +7.5% 657.7 -1.9% Film Production Days (2nd qtr.)2 ...... 11,260 11,604 -3.0% 11,134 +1.1% Bankruptcies Chapter 7 (June) ...... 3,504 3,371 +4.0% 3,724 -5.9% Chapter 11 (June)...... 36 46 -21.7% 30 +20.0% still Trade3 Exports (mils.) (June) ...... $10,353.1 $10,355.5 0.0% $8,790.9 +17.8% Imports (mils.) (June) ...... $23,179.7 $22,344.6 +3.7% $23,460.3 -1.2% Air cargo4 LAX (June) ...... 164.6 155.3 +6.0% 167.0 -1.4% isn’t Burbank (June)...... 8.1 7.4 +9.5% 8.2 -1.2% Container volume5 (000’s) Long Beach (July) ...... 572.9 554.3 +3.4% 587.9 -2.6% Los Angeles (July) ...... 688.3 640.8 +7.4% 730.7 -5.8% Los Angeles CPI (June) ...... 232.3 233.4 -0.5% 225.9 +2.8% an option

%± from REAL ESTATE Latest Previous previous Year %± from period period period ago year ago Construction lending (mils.) (June) ...... $139.0 $160.5 -13.4% $140.3 -0.9% Property acquisition lending (mils.)6 (June) ...... $2,026.4 $1,729.1 +17.2% $2,466.0 -17.8% Refinance lending (mils.) (June)7 ...... $3,915.2 $3,139.8 +24.7% $3,902.7 +0.3% Foreclosures Number (June) ...... 2,931 2,487 +17.9% 2,781 +5.4% Value (mils.) (June) ...... $936.9 $691.7 +35.4% $1,252.6 -25.2% If you aren’t getting ahead, Building contracts (mils.) Residential (June) ...... $190.3 $162.6 +17.0% $174.3 +9.0% you are falling behind. Nonresidential (June) ...... $515.9 $103.1 +400.4% $331.0 +55.9% Building permits (mils.) The Los Angeles Business Journal will Residential (June) ...... $227.4 $401.7 -43.4% $273.5 -16.9% Nonresidential (June) ...... $288.8 $290.6 -0.6% $266.4 +8.40% keep you ahead of your competition – Housing start permits (June) ...... 541 1,567 -65.5% 716 -24.4% Home sales (July)8 ...... 4,164 3,867 +7.7% 4,498 -7.4% It is a publication filled with insight and Home prices (000’s) (July) ...... $345 $340 +1.5% $350 -1.4% Condo sales (July)8 ...... 1,583 1,564 +1.2% 1,634 -3.1% information that you need to read, but Condo prices (000’s) (July) ...... $275 $285 -3.5% $305 -9.8% Apartments (2nd qtr.) more important,one that you will want Gross occupancy ...... 94.2% 93.9% +0.3% 93.9% +0.3% to read. Avg. sq. ft. rent ...... $1.90 $1.93 -1.6% $1.89 0.5% Avg. monthly rent ...... $1,643 $1,637 +0.4% $1,595 +3.0% Subscribe today. Office vacancy rates (2nd qtr.) Downtown Los Angeles ...... 15.4% 15.0% +2.7% 15.7% -1.9% As part of your subscription, you will San Fernando Valley ...... 17.6% 18.5% -4.9% 19.0% -7.4% West L.A...... 15.7% 16.6% -5.4% 15.4% +1.9% also receive access to the daily elec- South Bay ...... 18.9% 19.3% -2.1% 17.8% +6.2% Countywide ...... 16.5% 16.9 -2.4% 16.6% -0.6% tronic Los Angeles Business Journal, Industrial vacancy rates (2nd qtr.) unlimited on-line access to our Downtown/Central ...... 2.2% 2.1% +4.8% 2.4% -8.3% South Bay ...... 3.0% 3.1% -3.2% 2.8% +7.1% archives, and the Book of Lists, San Gabriel Valley ...... 3.5% 3.5% 0.0% 3.8% -7.9% published at the end of the year.

%± from TOURISM Latest Previous previous Year %± from Call toll-free 1.800.404.5225 month month month ago year ago Hotel occupancy rate (June)...... 80.3% 74.7% +7.5% 78.5% +2.3% Room rate (June) ...... $150.5 $147.3 +2.2% $144.0 +4.5% Passengers LAX (000’s) (June) ...... 5,631.6 5,476.2 +2.8% 5,311.4 +6.0% Burbank Airport (000’s) (June)...... 371.9 360.3 +3.2% 392.1 -5.2%

FOOTNOTES 1. Not seasonally adjusted. 5. 20-foot equivalent unit. 2. Music, television, film and commercials quarterly. 6. Apartment and residential combined 3. Through Los Angeles Customs District. 7. Includes refinancings, second mortgages and equity mortgages 4. In thousands of tons. 8. Adjusted for selling days.

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

44 LOS ANGELES BUSINESS JOURNAL INVESTMENTS & FINANCE AUGUST 29, 2011

THE LABJ STOCK INDEX TRACKING LOS ANGELES AREA COMPANIES

WEEKLY TOP GAINERS WEEKLY TOP LOSERS

Sport Chalet Inc. RealD Inc. KB Home OriginOil Inc. $5 $35 $20 $8 Aug. 24, 2010 $2.29 30 7 4 Aug. 24, 2010 $4.50 Aug. 24, 2011 15 Aug. 24, 2011 $2.30 25 6 $4.25 3 20 Aug. 24, 2010 $17.50 5 10 2 Aug. 24, 2011 15 4 $15.19 Aug. 24, 2010 Aug. 24, 2011 $10.04 $5.41 1 10 5 3 8/10 10/10 12/10 2/11 4/11 6/11 8/11 8/10 10/10 12/10 2/11 4/11 6/11 8/11 8/10 10/10 12/10 2/11 4/11 5/11 8/11 8/10 10/10 12/10 2/11 4/11 5/11 8/11

TOP TEN LOCAL GAINERS BY PERCENTAGE (with closing prices at least $1) TOP TEN LOCAL LOSERS BY PERCENTAGE (with opening prices at least $1) Aug. 24 Aug. 17 Price 1-Wk 52-Wk Aug. 24 Aug. 17 Price 1-Wk 52-Wk Company Close Close Change % Chg. % Chg. Company Close Close Change % Chg. % Chg. Sport Chalet Inc...... $2.30 $1.94 $0.36 18.6% 0.0% KB Home ...... $5.41 $6.70 -$1.29 -19.3% -46.1% RealD Inc...... 15.19 12.94 2.25 17.4% -13.2% OriginOil Inc...... 4.25 5.10 -0.85 -16.7% -5.6% Staar Surgical Co...... 7.78 6.71 1.07 15.9% 75.6% Broadway Financial Corp...... 1.54 1.81 -0.27 -15.0% -50.6% Hot Topic Inc...... 7.88 6.95 0.93 13.4% 61.8% K-Swiss Inc...... 5.06 5.92 -0.86 -14.5% -54.4% ReachLocal Inc...... 14.62 13.20 1.42 10.8% 11.3% Derycz Scientific Inc...... 1.49 1.70 -0.21 -12.4% 50.5% BNK Petroleum Inc...... 2.74 2.51 0.23 9.2% 65.1% Ever-Glory International Group Inc...... 1.77 2.00 -0.23 -11.5% -30.0% Big 5 Sporting Goods Corp...... 7.39 6.91 0.48 6.9% -35.8% Motorcar Parts of America Inc...... 9.62 10.73 -1.11 -10.3% 45.8% Obagi Medical Products Inc...... 10.63 10.00 0.63 6.3% 9.1% On Assignment Inc...... 7.56 8.38 -0.82 -9.8% 62.6% Iris International Inc...... 9.06 8.58 0.48 5.6% 23.4% Ixia ...... 7.79 8.57 -0.78 -9.1% -23.8% Crown Media Holdings Inc...... 1.36 1.29 0.07 5.4% -23.2% Bank of Santa Clarita ...... 7.01 7.70 -0.69 -9.0% 7.8%

MARKET DIARY MARKET INDEXES Speculation over the possibility of another recession kept the markets volatile during the week ended Aug. 24. The Dow Aug. 24 Aug. 17 Point 1-Wk 52-Wk Jones industrial average ended down less than 1 percent after a late-week rally on positive economic reports. The LABJ Index Close Close Change % Chg. % Chg. Index fell 1.2 percent. Homebuilder KB Home was the biggest local loser amid widespread pessimism over the home-buy- Dow Jones Industrial ...... 11,320.71 11,410.21 -89.50 -0.8% 12.8% ing market. Shares of the L.A. company fell more than 19 percent to $5.41. Broadway Financial Corp., the L.A. holding company for Broadway Federal Bank, took a hit after announcing a plan to close two branches and raise $10 million in new NASDAQ ...... 2,467.69 2,511.48 -43.79 -1.7% 16.2% capital. Shares declined 15 percent to $1.54. Hot Topic Inc., a City of Industry-based retailer of youth-oriented clothing, gar- S&P 500 ...... 1,177.60 1,193.89 -16.29 -1.4% 12.0% nered investor interest in advance of the back-to-school shopping season. Shares rose more than 13 percent to $7.88. LABJ Index ...... 108.62 109.92 -1.30 -1.2% -5.6%

MARKET SUMMARY DIVIDEND YIELD MOST ACTIVE STOCKS VOLUME WEEKLY SUMMARY Company Dividend Yield Dividend Weekly Close Walt Disney Co...... 20,180,750 Advances ...... 60 Anworth Mortgage Asset Corp...... 13.4% $0.95 $7.11 Activision Blizzard Inc...... 9,468,715 Declines ...... 106 Stamps.com Inc...... 12.8% $2.00 $15.63 Amgen Inc...... 8,964,384 Unchanged ...... 10 PennyMac Mortgage Investment Trust ...... 10.7% $1.76 $16.40 CB Richard Ellis Group Inc...... 7,073,655 New Highs ...... 1 BreitBurn Energy Partners LP ...... 9.2% $1.64 $17.82 Occidental Petroleum Corp...... 6,813,539 New Lows ...... 37 Guess? Inc...... 8.3% $2.76 $33.29

LABJ INDEX

LABJ Index, 52 weeks LABJ Index v. S&P 500, 5 days LABJ Index v. S&P 500, 52 weeks 150 0% 30%

SP 500 8/24/2011 108.62 -1 LABJ Index 21

-2 12

120 -3

3 -4

Aug. 24, 2011 -5 -6 108.62 SP 500 LABJ Index 90 -6 -15 A S O N D J F M A M J J A 8/18 8/19 8/22 8/23 8/24 A S O N D J F M A M J J A

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

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

AUGUST 29, 2011 INVESTMENTS & FINANCE LOS ANGELES BUSINESS JOURNAL 45

THE LABJ STOCK INDEX TRACKING LOS ANGELES AREA COMPANIES TOP GAINERS TOP LOSERS Company Aug. 24 1-Wk YTD 52-Wk P.E. Mkt. Cap Company Aug. 24 1-Wk YTD 52-Wk P.E. Mkt. Cap Name Ticker Close % Chg % Chg % Chg Ratio (millions) Name Ticker Close % Chg % Chg % Chg Ratio (millions)

AEROSPACE/DEFENSE Imaging3 Inc. IMGG $0.08 0.3% -47.7% -71.4% NA $31.1 Aerovironment Inc. AVAV $28.28 5.2% 5.4% 23.8% 24.4 $623.8 IPC The Hospitalist Co Inc. IPCM 39.01 -5.3% 0.0% 62.5% 23.8 641.0 Ducommun Inc. (L) DCO 16.66 -4.0% -23.5% -10.1% 11.3 175.5 Molina Healthcare Inc. MOH 18.30 -3.0% -1.4% 7.1% 12.0 843.0 Flamemaster Corp. FAME 3.85 0.0% -21.4% -3.8% 8.2 4.8 RadNet Inc. RDNT 2.50 -6.4% -11.3% 31.6% 15.6 93.6 Northrop Grumman Corp. NOC 52.72 -0.1% -10.3% 5.0% 8.1 14,659.2 VCA Antech Inc. WOOF 18.09 3.8% -22.3% -6.1% 12.8 1,566.5 Teledyne Technologies Inc. TDY 52.09 1.6% 18.5% 44.8% 14.8 1,916.0 INSURANCE Wesco Aircraft Holdings Inc. WAIR 11.78 -2.2% NA NA 1.5 1,008.0 Mercury General Corp. MCY 37.97 0.6% -11.7% -2.0% 18.3 2,081.8 APPAREL Unico American Corp. UNAM 10.57 2.1% 15.6% 19.6% 17.6 56.4 American Apparel Inc. APP 0.89 -1.1% -46.4% 25.4% NA 96.6 INTERNET Cherokee Inc. (L) CHKE 14.38 2.1% -23.6% -20.3% 15.6 122.3 Bidz.com Inc. BIDZ 0.63 -10.0% -48.1% -59.9% NA 12.2 Guess? Inc. (L) GES 33.29 -0.1% -29.6% -7.3% 10.7 3,082.4 Boingo Wireless Inc. WIFI 8.66 -3.3% NA NA NA 287.0 Hot Topic Inc. HOTT 7.88 13.4% 25.3% 61.8% 78.8 353.9 CrowdGather Inc. (L) CRWG 0.42 -16.0% -73.2% -53.8% NA 24.6 Joe's Jeans Inc. JOEZ 0.68 -3.0% -56.3% -63.0% 22.7 44.1 J2 Global Communications Inc. JCOM 30.08 5.1% 3.9% 41.4% 12.8 1,392.0 K-Swiss Inc. (L) KSWS 5.06 -14.5% -59.4% -54.4% NA 179.3 ReachLocal Inc. RLOC 14.62 10.8% -26.6% 11.3% NA 427.4 People's Liberation Inc. (L) PPLB 0.03 -25.0% -72.7% -68.4% NA 1.1 Spark Networks Inc. LOV 3.20 0.3% 7.7% -1.5% 35.6 65.9 Skechers U.S.A. Inc. SKX 16.05 4.2% -19.8% -39.2% 37.3 799.2 Stamps.com Inc. STMP 15.63 -2.5% 18.0% 63.0% 20.3 223.3 True Religion Apparel Inc. TRLG 29.40 -2.0% 32.1% 49.9% 15.5 757.0 United Online Inc. UNTD 5.19 1.0% -21.4% 5.1% 7.6 460.3 AUTOMOTIVE/PLASTICS/METALS ValueClick Inc. VCLK 14.56 -0.7% -9.2% 36.3% 13.0 1,152.4 Motorcar Parts of America Inc. MPAA 9.62 -10.3% -26.2% 45.8% 10.8 119.8 MANUFACTURING Reliance Steel & Aluminum Co. RS 38.42 -4.8% -24.8% 6.8% 10.3 2,876.9 Avery Dennison Corp. (L) AVY 27.33 -0.4% -35.5% -16.5% 9.1 2,895.7 Superior Industries International Inc. (L) SUP 15.96 -1.4% -24.8% 9.1% 7.7 433.4 BioSolar Inc. BSRCD 3.89 1.0% 35.1% -13.6% NA 22.5 US Auto Parts Network Inc. (L) PRTS 6.15 -2.7% -26.8% -21.2% 153.8 187.9 Cereplast Inc. CERP 3.35 1.5% -19.1% 2.8% NA 52.8 BIOMEDICAL/PHARMACEUTICAL Dole Food Co Inc. DOLE 10.77 -5.9% -20.3% 12.9% 119.7 954.3 Amgen Inc. AMGN 54.25 4.9% -1.2% 6.2% 11.3 50,132.0 Ever-Glory International Group Inc. EVK 1.77 -11.5% -16.1% -30.0% 2.7 26.1 Arrowhead Research Corp. ARWR 0.43 -6.3% -51.8% -53.7% NA 31.0 Farmer Bros Co. (L) FARM 5.39 -3.1% -69.7% -62.1% NA 87.3 CytRx Corp. CYTR 0.33 -11.4% -67.2% -52.7% NA 49.4 Jakks Pacific Inc. (L) JAKK 16.13 0.9% -11.5% 8.2% 16.3 437.9 Iris International Inc. IRIS 9.06 5.6% -11.4% 23.4% 122.4 162.1 Mattel Inc. MAT 25.45 2.7% 0.1% 19.9% 13.5 8,726.6 MannKind Corp. MNKD 2.65 3.1% -67.1% -53.6% NA 347.1 OSI Systems Inc. OSIS 36.25 1.7% -0.3% 34.7% 22.2 690.6 Obagi Medical Products Inc. OMPI 10.63 6.3% -8.0% 9.1% 14.6 196.7 Overhill Farms Inc. OFI 4.50 -0.2% -21.9% 0.2% 18.0 71.2 Oxis International Inc. (L) OXIS 0.07 -17.1% -55.2% -45.3% NA 14.0 Reed's Inc. REED 1.80 -4.3% -10.4% -1.1% NA 19.5 Physicians Formula Holdings Inc. FACE 3.25 0.0% -13.6% 3.2% NA 44.2 Virco Manufacturing (L) VIRC 2.27 0.4% -14.0% -20.6% NA 32.2 Response Genetics Inc. RGDX 2.15 -5.3% -13.3% -15.4% NA 42.0 MEDIA/LEISURE/ENTERTAINMENT Staar Surgical Co. (H) STAA 7.78 15.9% 27.5% 75.6% NA 277.5 Crown Media Holdings Inc. (L) CRWN 1.36 5.4% -48.1% -23.2% 6.5 489.2 COMPUTERS/PERIPHERALS/ELECTRONICS Daily Journal Corp. DJCO 68.80 -4.1% -4.4% -4.4% 12.0 95.0 Aura Systems Inc. AUSI 0.68 -6.8% -9.3% 1.5% NA 45.3 Demand Media Inc. (L) DMD 8.50 0.1% NA NA NA 713.4 International Rectifier Corp. (L) IRF 21.05 -7.8% -29.1% 11.2% 9.7 1,473.9 Derycz Scientific Inc. DYSC 1.49 -12.4% -43.8% 50.5% NA 25.1 Ixia (L) XXIA 7.79 -9.1% -53.6% -23.8% 32.5 541.6 DirecTV DTV 42.88 -3.2% 7.4% 14.6% 14.2 31,657.7 MRV Communications Inc. MRVC 1.31 0.8% -26.8% 10.1% 26.2 206.3 DreamWorks Animation SKG Inc. DWA 19.87 -0.9% -32.6% -33.3% 3.9 1,659.2 PC Mall Inc. MALL 5.83 0.5% -23.0% 40.5% 9.0 72.4 DTS Inc. DTSI 29.77 4.6% -39.3% -10.8% 29.5 511.6 Power-One Inc. (L) PWER 7.45 1.4% -27.0% -24.0% 6.0 773.3 Entravision Communications Corp. (L) EVC 1.30 -2.3% -49.4% -20.2% NA 111.1 Qualstar Corp. QBAK 1.70 -1.2% 0.6% 9.7% NA 20.8 Image Entertainment Inc. (L) DISK 0.12 -22.7% -17.1% -46.0% NA 29.6 Semtech Corp. SMTC 20.40 -2.4% -9.9% 21.1% 15.6 1,333.5 Lions Gate Entertainment Corp. LGF 7.39 3.6% 13.5% 12.7% 32.1 1,013.7 Taitron Components Inc. TAIT 1.10 -3.5% -30.4% 5.8% NA 6.1 Live Nation Entertainment Inc. (L) LYV 8.63 -8.0% -24.4% 2.4% NA 1,632.4 Trio Tech International (L) TRT 3.27 -6.6% -21.6% -14.7% 14.2 10.9 NeuMedia Inc. MNDL 0.61 -11.6% 110.3% 79.4% NA 26.6 Vitesse Semiconductor Corp. VTSS 3.40 -2.9% -18.9% 7.9% 30.9 83.1 Point.360 PTSX 0.69 0.0% -21.6% -54.9% NA 7.4 CONSTRUCTION/ENGINEERING Provision Holding Inc. PVHO 0.03 -21.5% -48.3% -39.2% NA 1.4 Aecom Technology Corp. ACM 21.01 4.4% -24.9% -5.9% 9.7 2,509.6 Reading International Inc. RDI 4.23 -4.3% -16.2% 3.9% 6.9 100.6 Ameron International Corp. AMN 84.45 0.3% 10.6% 56.0% 99.4 765.9 RealD Inc. RLD 15.19 17.4% -41.4% -13.2% NA 823.4 Jacobs Engineering Group Inc. (L) JEC 34.97 0.1% -23.7% -0.3% 13.7 4,460.5 Salem Communications Corp. SALM 2.59 -8.8% -18.3% 14.4% 21.6 62.9 KB Home (L) KBH 5.41 -19.3% -59.9% -46.1% NA 416.6 Stratus Media Group Inc. SMDI 0.85 63.5% 32.8% 3.7% NA 65.9 Ryland Group Inc. (L) RYL 10.09 -6.7% -40.8% -37.3% NA 448.1 Tix Corp. TIXC 1.90 0.0% 53.2% 137.5% 11.2 59.1 Tetra Tech Inc. TTEK 19.39 -0.6% -22.6% 4.1% 14.2 1,211.5 Walt Disney Co. DIS 32.51 -2.6% -13.3% 1.2% 13.5 60,338.7 Tutor Perini Corp. TPC 13.35 -4.8% -37.6% -27.7% 8.3 631.3 MISC. SERVICES ENERGY/UTILITIES Air Lease Corp. AL 21.90 -1.9% NA NA NA 2,205.6 American States Water Co. AWR 35.12 1.3% 1.9% 9.5% 15.3 656.2 Cadiz Inc. (L) CDZI 9.66 5.1% -22.3% -4.7% NA 137.1 BNK Petroleum Inc. BNKPF 2.74 9.2% -20.1% 65.1% NA NA Electro Rent Corp. ELRC 15.50 0.7% -4.1% 34.8% 15.8 371.7 BreitBurn Energy Partners LP BBEP 17.82 -4.9% -11.5% 6.1% NA 1,052.1 Enova Systems Inc. (L) ENA 0.58 -15.9% -54.8% -31.8% NA 18.3 Capstone Turbine Corp. CPST 1.18 1.7% 22.9% 70.3% NA 306.3 Korn/Ferry International KFY 15.37 -5.9% -33.5% 16.8% 11.8 723.7 Edison International EIX 36.32 -0.4% -5.9% 7.0% 11.4 11,833.5 National Technical Systems Inc. NTSC 5.04 -1.2% -37.5% -33.0% 50.4 51.7 Occidental Petroleum Corp. OXY 83.08 -5.2% -15.3% 12.2% 11.5 67,525.0 NetSol Technologies Inc. NTWK 0.91 1.8% -51.3% 15.2% 5.1 50.4 OriginOil Inc. OOILD 4.25 -16.7% -25.8% -5.6% NA 31.8 On Assignment Inc. ASGN 7.56 -9.8% -7.2% 62.6% 28.0 280.0 U.S. China Mining Group Inc. (L) SGZH 2.22 -5.9% -65.1% -44.5% 2.7 41.9 Rentech Inc. RTK 0.87 -7.0% -28.5% 16.6% NA 194.8 FINANCIAL SERVICES UTi Worldwide Inc. (L) UTIW 12.56 -6.1% -40.8% -9.4% 17.9 1,289.3 1st Century Bancshares Inc. FCTY 3.64 3.1% -11.2% 2.5% NA 33.8 American Business Bank AMBZ 22.50 -0.4% 1.0% 2.3% 10.6 98.4 REAL ESTATE Anworth Mortgage Asset Corp. ANH 7.11 -2.3% 1.6% 5.0% 8.1 939.3 Alexandria Real Estate Equities Inc. ARE 69.30 -4.0% -5.4% 2.1% 23.2 4,291.9 Bank of Santa Clarita BSCA 7.01 -9.0% 0.9% 7.8% 58.4 15.4 CB Richard Ellis Group Inc. (L) CBG 15.15 -5.7% -26.0% -5.1% 19.2 4,925.2 Beach Business Bank BBBC 5.93 2.1% 18.6% 14.0% NA 24.1 Douglas Emmett Inc. DEI 17.69 -5.7% 6.6% 12.3% NA 2,257.7 Broadway Financial Corp. (L) BYFC 1.54 -15.0% -36.7% -50.6% NA 2.7 HCP Inc. HCP 35.41 2.0% -3.8% 4.7% 26.0 14,418.2 California United Bank CUNB 11.95 -2.4% -3.2% 8.1% NA 59.0 Hudson Pacific Properties Inc. HPP 13.48 -3.0% -10.4% -17.6% NA 452.6 Cathay General Bancorp CATY 12.42 0.0% -25.6% 26.6% 12.9 976.7 Intergroup Corp. INTG 22.84 1.9% 5.7% 48.3% 6.0 54.7 Center Financial Corp. CLFC 5.33 -1.1% -29.7% 9.4% 11.1 212.8 Kennedy-Wilson Holdings Inc. KW 11.28 4.4% 12.9% 18.9% NA 507.3 City National Corp. (L) CYN 44.31 3.4% -27.8% -9.1% 15.1 2,357.1 Kilroy Realty Corp. KRC 35.30 -1.5% -3.2% 19.9% 392.2 2,063.8 Colony Financial Inc. CLNY 15.49 -6.0% -22.6% -8.5% 10.6 509.8 LTC Properties Inc. LTC 25.01 0.0% -10.9% 2.5% 21.6 758.8 East West Bancorp Inc. EWBC 16.03 -3.0% -18.0% 6.9% 10.9 2,387.2 Macerich Co. MAC 47.26 -5.1% -0.2% 20.1% 121.2 6,234.4 Farmers & Merchants Bank FMBL 4010.00 -1.0% 1.0% -3.9% 9.2 525.0 Meruelo Maddux Properties Inc. MMPID 4.24 -7.8% 202.9% 324.0% NA 74.7 First California Financial Group Inc. FCAL 3.09 -2.8% 10.4% 18.4% NA 90.4 MPG Office Trust Inc. MPG 2.64 -5.4% -4.0% 6.9% NA 134.5 General Finance Corp. GFN 3.11 -5.0% 56.9% 177.3% NA 68.4 Portsmouth Square Inc. PRSI 24.01 0.0% 4.4% 0.1% 6.3 17.6 Great American Group Inc. GAMR 0.12 -4.2% -76.5% -87.2% NA 3.5 PS Business Parks Inc. PSB 54.08 1.5% -2.9% -2.2% 29.2 1,336.7 Green Dot Corp. GDOT 31.15 0.3% -45.1% -30.5% 33.1 1,552.8 Public Storage PSA 120.04 -0.3% 18.4% 24.9% 41.3 21,488.5 Hanmi Financial Corp. HAFC 0.92 -3.1% -20.0% -28.7% 18.4 139.2 Thomas Properties Group Inc. TPGI 2.70 2.7% -36.0% -10.6% NA 137.5 Kaiser Federal Financial Group Inc. KFFG 11.94 -0.5% 3.1% 14.5% 12.7 114.1 RESTAURANTS/RETAIL/GROCERY Malaga Financial Corp. MLGF 13.60 0.0% -10.8% -15.0% 7.4 79.4 99 Cents Only Stores NDN 18.42 3.3% 15.6% 8.2% 17.1 1,299.4 Manhattan Bancorp MNHN 3.60 -1.4% -30.1% -20.0% NA 14.4 Arden Group Inc. ARDNA 82.38 -0.2% -0.1% -4.8% 14.2 253.0 Mission Valley Bancorp MVLY 5.50 0.0% 46.7% 55.7% NA 24.8 Big 5 Sporting Goods Corp. (L) BGFV 7.39 6.9% -51.6% -35.8% 8.7 162.6 Nara Bancorp Inc. NARA 6.83 -2.0% -30.7% 9.8% 12.9 260.2 Cheesecake Factory Inc. CAKE 27.64 0.9% -9.8% 26.8% 18.6 1,568.0 NCAL Bancorp (L) NCAL 7.00 -6.7% -30.0% -32.0% NA 16.5 DineEquity Inc. DIN 41.00 -0.7% -17.0% 30.1% 19.9 760.7 Pacific Commerce Bank PFCI NA NA NA NA NA NA Grill Concepts Inc. GLLC 0.28 0.0% -3.4% -9.7% NA 2.5 PacWest Bancorp (L) PACW 15.96 -2.0% -25.4% -11.5% 38.0 566.3 Sport Chalet Inc. SPCHB 2.30 18.6% -38.5% 0.0% NA 26.8 PennyMac Mortgage Investment Trust PMT 16.40 -3.4% -9.6% -3.8% 9.0 455.8 SOFTWARE Preferred Bank PFBC 7.65 4.2% -13.1% -5.6% NA 100.9 Activision Blizzard Inc. ATVI 11.23 1.8% -9.7% 4.5% 15.4 12,833.8 Saehan Bancorp SAEB 0.27 0.0% -30.8% -49.1% NA 51.1 Cornerstone OnDemand Inc. CSOD 14.89 -8.7% NA NA NA 715.7 SearchMedia Holdings Ltd. IDI 1.36 -8.1% -56.3% -22.7% NA 28.4 CyberDefender Corp. (L) CYDE 0.50 -8.3% -83.7% -84.8% NA 13.1 Wilshire Bancorp Inc. WIBC 2.83 -8.4% -62.9% -54.0% NA 201.8 Guidance Software Inc. GUID 6.30 -5.8% -12.4% 32.4% NA 161.0 HEALTH CARE Peerless Systems Corp. PRLS 3.76 -4.3% 19.4% 32.4% 19.8 13.0 Health Net Inc. HNT 22.46 -2.3% -17.7% -4.9% 8.6 2,000.8 Simulations Plus Inc. SLP 3.14 3.0% 16.7% 32.5% 17.4 48.8 Herbalife Ltd. HLF 54.33 0.0% 58.9% 98.9% 19.2 6,429.9 THQ Inc. (L) THQI 1.88 1.6% -69.0% -47.2% NA 128.5

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

46 LOS ANGELES BUSINESS JOURNAL REAL ESTATE AUGUST 29, 2011 Office Campus Deal Heats Up Creative Hot Spot ACQUISITION: its size and quality, according to Washington, ket. When you bet in L.A., West L.A. is the Westside’s D.C.-based CoStar Group Inc., which lists usually the first market that pays off.” allure pumped up price for comparable Los Angeles County sales within the He added that the buyer plans to take a last year at $180 to $684 per square foot. patient approach to filling the offices. Playa Vista property. Built up in the 1970s and ’80s, and renovat- Shannon’s colleagues Scott Schumacher ed this year, the campus features single two- and Ken White also represented both sides of LAYA Jefferson, a nearly 200,000- and three-story buildings joined by a 50-foot the deal. square-foot office campus in Playa glass atrium lobby. The campus was only 18 P Vista, traded hands this month for $33 percent leased, with an average monthly rental Koreatown Win million. rate of $1.75 per square foot. After two years of discussion, it looks like a Vantage Property Investors, a private real It was formerly known as the Citicorp high-rise apartment and retail project on estate investment and redevelopment company Campus because the bank was a past tenant. Wilshire Boulevard and Vermont Avenue in in Manhattan Beach, bought the two-building Kevin Shannon, vice chairman at CB Koreatown will finally move forward after campus at 12755-12777 W. Jefferson Blvd. Richard Ellis Group Inc. who represented the receiving key funding this month from the city from Embarcadero Capital Partners, a San Playa Vista: Playa Jefferson campus. buyer and seller, said that part of the appeal of Los Angeles. Francisco office property investment and man- was the lower Westside’s promise. Developer Jerry Snyder received City agement company. Facebook Inc., which has an office in the “It’s a great value-add opportunity in the Council approval for a $12.5 million loan It’s one of three office campuses in Playa neighborhood. path of progress,” said Shannon. “They are from the Department of Housing and Urban Vista, which has been increasingly attracting At roughly $165 per square foot, the sale was making a bet on the future of Playa Vista mar- Development and a $5 million loan from the creative and tech tenants such as Palo Alto’s among the lowest priced for a Class B space of ket and the ability to find a tenant for that mar- Community Redevelopment Agency as part of a larger $173 million public-private financial package. Snyder said the city’s financial backing was LOOK the final critical piece to moving forward on the project, known as the Vermont. “Of course, I see this as a win,” he said. “I feel great.”

REAL ESTATE JACQUELYN RYAN

As part of the agreement, his JH Snyder Co. will provide $1 million for a community with us center and will partner with low-income housing developers to create 96 affordable housing units in the area. Snyder’s project on a vacant lot at 3150 Wilshire would have 464 residences in dual towers of 22 and 17 stories, with nearly 35,000 square feet of ground-floor retail. The one- and two-bedrooms apartments will be 700 to 1,000 square feet and have monthly rents of $2,200 to $3,200. “We are really going after the new gener- ation of folks that don’t want to live in the suburbs and want to go to L.A. Live at night,” he said. The company plans to break ground Dec. 8 and complete construction within two years.

Industrial Sale In one of the priciest industrial land sales in the central county this year, SoCal Carriers Inc. bought a 110,000-square-foot plot in Commerce for $2.7 million. The trucking company, which plans to build new headquarters, bought the land from Maechling Family Trust, which had leased the space to a forklift company that moved last year to the City of Industry. SoCal Carriers was interested in the proper- Managing your: Cash Flow Payments Business Growth Future ty at 6403 E. Slauson Ave. in part because of its close proximity to the ports and the Long Beach (710) and Golden State (5) freeways. Take advantage of low rates to refinance or purchase commercial real estate. SoCal Carriers plans to demolish much of the 36,123-square-foot warehouse and other U.S. Bank specializes in providing conventional and Small Business Administration (SBA) real estate financing for the structures to make way for truck storage. It acquisition, renovation, expansion and refinance of commercial real estate. will relocate from its City of Industry location • 25-year amortization available • Loans up to $5 million by the end of the year. • Five, ten and 15 year terms available • Equity Lines on commercial properties available “We had several developers interested in the site. We were successful in finding a buyer who could use the site and they are going to use an office structure and tear down a lot of the other structures and create room Contact me for more information: for trucks,” said Brian McLoughlin, a senior Matt Ashworth, vice president at the Commerce office of Voit Small Business Regional Manager, 626-914-7384 Real Estate Services who represented SoCal Catherine Jooyan, SBA Regional Sales Manager, 949-496-4012 Carriers. The buyer was represented by Casey Mungo, an associate vice president of GVA Daum Commercial Real Estate Services.

usbank.com Staff reporter Jacquelyn Ryan can be reached at [email protected] or (323) 549- Subject to credit approval. Member FDIC 5225, ext. 228. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 LOS ANGELES BUSINESS JOURNAL 47 Investment Properties For Sale COMMERCIAL COMMERCIAL

2 101 W. 3rd FOR SALE Dodger 5 FOR SALE RARE WEST HOLLYWOOD BLDG. WILSHIRE Stadium CULVER CITY ART • Heart of La Cienega BLVD. DISTRICT ADJ. 10 Design Quarter • +/- 4,800 s. f. ofﬁ ce bldg. • 13’ ceilings, designer ﬂ oors • +/- 21,000 s. f. of land • 7 Car parking LOS ANGELES COUNTY VENTURA COUNTY FIGUEROA • $2,695,000 FLOWER • $1,895,000 Santa 10 ◆ L. Bakan or G. Berwick ◆ G. Batiste/B. Hart/J. Pickett Clarita ALAMEDA 60 (310) 478-7700 110 (310) 478-7700

118 Simi 2 COMMERCIAL LAND Valley Northridge FOR SALE FOR SALE Burbank CULVER CITY Agoura 170 101 5 • Retail-Restaurant • Small building on site Hills 2 Hollywood Pasadena 210 • 1,570 sq. ft. on • Eagle Rock Calabasas Glendale 3,136 sq. ft. of land • $345,000 405 Alhambra 10 West • $779,000 1 Covina ◆ Sam Ferrell LOS ANGELES Pomona ◆ G. Batiste / B. Hart Santa (310) 478-7700 ext. 382 1 Montebello (310) 478-7700 Monica 5 Malibu Venice Culver City Whittier LOS ANGELES COUNTY Marina Del Rey 4 Lynwood 5 ORANGE COUNTY El Segundo FOR SALE Hawthorne Manhattan Beach Need more information FREE STANDING RETAIL 5 miles Hermosa Beach Torrance 3 Redondo Beach Anaheim on advertising your Carson Long Beach Investment Property? Rancho Palos Huntington Santa Ana Verdes LONG Beach BEACH San Clemente Irvine LEGEND LOS ANGELES HARBOR HARBOR Office Costa Mesa Call Rosz Murray Residential • Located on a busy Firestone Blvd – Downey • Perfect for retail showroom or convert Commercial 323.549.5225 to medical ofﬁ ce • Over 5,300 sq ft plus 2,000 sq ft of Mezzanine Industrial ext. 215 Land George Bustamante (714) 856-7017

LEASING GUIDE

OFFICE

Bank Site - LA’s Premier Address DESIGNER OFFICE FOR LEASE Available Space: 3,200 sqft.+++ (signalized corner) LOWERED • Free Standing 3,303 SF, Single Level TO 750K Term Length: 3-10 years (negotiable) Lease Type: Bank branch site Rate Type: NNN • Floor to Ceiling Windows throughout – Also - ofﬁ ce/retail from 3.50 Available: Immediately Central Atrium Contact: Arun Bhumitra, Armitra Properties Email: [email protected] Phone: (310) 994-7400 ADDRESS: 23211 Hawthorne Blvd., Torrance, CA Originally 15 Million - property can now be purchased for 9.5 Million! Steve Warshauer 888-895-7535 Ext 225

COMMERCIAL RETAIL SPACE & EXECUTIVE SUITES ADDRESS: 2137 W 182nd St, Torrance CA 90504 COMMERICAL PROPERTY FOR LEASE Available Space: 1039 sqft Location: Nijiya Plaza Term Lease: 4 year Rate Type: NNN ADDRESS: 22905 S Vermont Ave, Torrance CA Useage: Optometrist, Acupuncture, Beauty Salon, Barber Shop, Liquor Store, Etc Available: Immediately- Last One Left Available Space: 15,500 sqft Supermarket Building ++ 10,000 sqft available Term Length: 20 year Rate Type: $1.99 sqft + NNN ADDRESS: 2161 W 182nd St #103, Torrance CA 90504 Useage: Supermarket, Drug Store, Automotive Super Store, Available Space: 533 sqft Rate Type: Gross Lease Medical Use Potential, Etc. Lots of Potential Available: Immediately Available: Immediately Lots of Visibility, Corner Ofﬁ ce/Building Contact: Patsy Palos 310-532-2111 ext 3039 Email: [email protected] Contact: Patsy Palos 310-532-2111 ext 3039 Email: [email protected] 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

48 LOS ANGELES BUSINESS JOURNAL AUGUST 29, 2011 BUSINESS MARKETPLACE CAREER SERVICES BUSINESS SERVICES

Free Keurig Trial Tired of wasting coffee and money?

Try America’s #1 Coffee System for the Ofﬁ ce.

www.gourmetcoffeeservice.com Call Us 800-834-0220

Get Noticed.

Showcase your ad in the BUSINESS MARKETPLACE section of the Los Angeles Business Journal

Call Rosz Murray 323.549.5225 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 LOS ANGELES BUSINESS JOURNAL 49 BUSINESS MARKETPLACE LEGAL SERVICES AIRCRAFT CHARTER

Aircraft Charter Service Aircraft Sales Aircraft Management

13 Years Established

Worldwide Service L.A. LAW GUIDE No Membership Fees BUSINESS LITIGATION FAMILY LAW INVESTMENT LAW 24 / 7 Personal Service MICHAEL KELLY FAMILY LAW Wittenberg Law, APC SUSAN BARILICH P.C. Divorce and Family Law Have you lost money in an investment? LITIGATION . TRIALS . ARBITRATION for Business Professionals. You may have a legal claim to recover your money if you act promptly. 30 yrs. experience. State & Federal Courts Our experience includes success- Downtown Los Angeles. fully litigating against the major family Are you considering a new investment law ﬁ rms in Los Angeles. We prevail opportunity? A prudent investor would (310) 379-4448 213-996-8340. [email protected] through fair negotiation or litigation. seek sophisticated investment counsel 41 year ﬁ rm, 33 attorneys & staff. FURTHER INFO: www.barilichlaw.com before investing. Be a prudent investor.

Free consultation 310-393-0236. Contact: Call Jeffrey Wittenberg for a ALTITUDEAVIATION.COM CFLI.com – admin@cﬂ i.com free consultation: 310-295-2010. Weekend & evening appts, avail. Visit Wittenberglawyers.com for more Law Ofﬁ ces of Mark Anchor Albert information.

Consistent business litigation victories FRAUD PERSONAL INJURY LEGAL NOTICES Both defense and plaintiff representation EMPLOYERS, SELF-INSURED EMPLOYERS, GOT FRAUD? LAW OFFICES OF RONALD M PAPELL Over 20 years’ experience at Fictitious Name Statement preeminent law fi rms THE INSURANCE FRAUD EXPERTS, AV RATED ATTORNEY WITH 30 YEARS a law fi rm specializing in fraudulent EXPERIENCE REPRESENTING INJURED File No. (2011080603) Top credentials, experience and claims is the answer. Their expertise PARTIES IN SETTLEMENT AND TRIAL. reputation includes identifying individuals who are REPEATEDLY RECOGNIZED AS SOUTH- The following company is doing business as KMW Enterprises, or have committed fraud against your ERN CALIFORNIA SUPER LAWYER. 117 W 9th St. # 104, Los Angeles, CA 90015. This business company, plus preparation of evidence Full contingency fee structure ALL CASES HANDLED to dismiss civil actions, assisting the is being conducted by 1) William Kessler, 11337 Thurston CR, in appropriate cases CONFIDENTIALLY AND ON A District Attorney to criminally prosecute CONTINGENCY FEE BASIS Los Angeles, CA 90049. 2) Phyllis Kessler, 11337 Thurston all individuals involved, and obtaining CR, Los Angeles, CA 90049. 3) Halina Wachtel, 2142 Century Millions of dollars in recoveries Restitution of money paid on the claim. (310) 477-4775; EMAIL: [email protected] Park LN, # 416, Los Angeles, CA 90069. 4) Suzette Wachtel www.lalitigationlawyers.com; Encino, California: (818) 905-8696 VISIT OUR INFORMATIONAL 2131 Century Park Lane #416, Los Angeles, CA 90067. 5) 213.687.1515 www.theinsurancefraudexperts.com WEBSITE: RMPLAW.COM Arthur K Wachtel, 975 Greenhill Rd, Mill Valley CA 94941, 6) Wachtel Atip Trust, 2142 Century Park Ln, #416, Los Angeles, CA 90067. This statement was filed with the County Clerk of Los Angeles on August 11, 2011. Published on, 8-29-11, 9-5-11, 9-12-11, 9-19-11. Notice - this fictitious business Need a legal specialist? name statement expires on, August 11, 2016. A new fictitious business name statement must be filed prior August 11,2016, To advertise your boutique law fi rm with highly The filing of this statement does not itself authorize the use in specialized law practices in the L.A. Law Guide, this state of a fictitious business name in violation of the rights contact Rosz Murray at 323.549.5225 of another under federal, state, or common law (see section 14400 ET SEQ, business and professional code). 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

50 LOS ANGELES BUSINESS JOURNAL AUGUST 29, 2011 BUSINESS MARKETPLACE REAL ESTATE SERVICES

One Month FREE on our Property Management Services!

213-929-5050 www.iwpartners.com

“GOOD PEOPLE DOING BUSINESS WITH GOOD PEOPLE,

EVERYDAY” BR 900614 0714

CORPORATE TRANSPORTATION

Get Noticed.

Showcase your ad in the BUSINESS MARKETPLACE section of the Los Angeles Business Journal

Call Rosz Murray 323.549.5225 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 LOS ANGELES BUSINESS JOURNAL 51 Grocery: Labor Strike May Work for Fresh & Easy Smart & Final Inc., which saw big increases in Continued from page 1 employee health care, while the grocers main- While the recession has played a role in the tain their plan would keep the fund viable in chain’s struggle, Fresh & Easy is making same-store sales, said Karen Short, an analyst the face of rising costs. changes to better fit the market. It is in the for BMO Capital Markets Corp. in New York. needs to break even by February 2013. If there is a strike, the three major chains all middle of a push to revamp and expand offer- She said same-store sales at the Commerce- With that goal in mind, the chain has been stand to be big losers. The last time grocery work- ings at existing locations, including the 33 in based chain were up about 20 percent in the revamping stores and planning a marketing ers went on strike, in late 2003 and early 2004, Los Angeles County, and is developing stores two quarters affected by the strike. That com- campaign to highlight those changes. Improve- many customers shopped elsewhere rather than of about 3,000 square feet for urban areas. pares with increases of about 7 percent in the ments include expanding produce and ready- cross picket lines. That was a boon for Trader Joe’s, The chain is shrinking health and beauty offer- prior months. “For Smart & Final, it was a case made meal offerings, and making the stores Costco and other nonunion grocers and retailers. ings and filling that shelf space partly with a new where they were a little below the radar screen more appealing, such as by installing flower Fresh &Easy could really use the help. section of gluten-free items. It also adding bak- for most consumers. During the strike, con- displays. The goal is to attract new customers In launching the chain, Tesco aimed to give eries to about 100 locations and expanding its sumers went to Smart & Final and saw it with and bring back people who aren’t regulars. U.S. consumers a healthier and more conve- Mexican food line. Produce sections will expand, fresh eyes,” she said. Brendan Wonnacott, a Fresh & Easy nient kind of grocery store. Stores are about as will prepared meals. However, the question may not be whether spokesman, rejected the notion that customers 10,000 square feet – much smaller than typical And after learning that customers found the Fresh & Easy will benefit, but rather whether it don’t like the chain, which is seeing double- groceries – and have fewer frills. Produce is stores “clinical” in feel, Fresh & Easy is will benefit for the long term. digit growth in year-over-year sales. displayed in plastic crates and the stores use installing wood laminate over the concrete floor- Steve Stallman, president of Stallman “All the elements are in place” for the chain only self-checkout counters. ing in some stores, as well as moving flowers Marketing, a food and retail industry consul- to be profitable by the end of next year, Won- The stores, which offer Fresh & Easy toward the front entrance. It’s even adding doors tancy in Northridge, said he occasionally shops nacott said. branded items as well as major brands, focus to freezer cases to make stores less chilly. at Fresh & Easy, but that overall the store isn’t He allowed, though, that the company wants more on produce and prepared food and seek a good fit for him. For one thing, he’s confused and needs to bring more customers into its stores. to capitalize on Americans’ health concerns by Return shoppers? by the store’s mix of high- and low-quality “It’s all about introducing Fresh & Easy to promising products free of trans fats, artificial For all its problems, as a young and grow- items, such as tasty-looking prepared meals but more and more customers,” he said. colors and flavors. ing chain still trying to build a customer base, questionable-looking frozen vegetables. However, the chain has failed to catch on as Fresh & Easy stands to gain more from a strike He expects to shop more at Fresh & Easy if Possible strike Tesco expected, slowing down the rollout. The than its more established neighbors. there’s a strike to avoid crossing picket lines, but Members of the United Food and Commer- company had projected Fresh & Easy to expe- Shore Capital analyst Black said anything he likely won’t become a more loyal customer. cial Workers – a union representing 62,000 rience its biggest losses in 2008, but losses that pushes customers out of their established Stallman said he has noticed the improve- grocery workers from Santa Maria to San have widened in the two years since. shopping habits and into Fresh & Easy would ment Fresh & Easy has made, but he doesn’t Diego – voted last week to authorize a strike at The chain opened 60 stores its first year and be a big boost for the chain. think the chain has gone far enough to become Albertsons, Ralphs and Vons if a new deal planned to have more than 200 locations by the “Evidence suggests that those who visit a hit with shoppers. can’t be reached. end of 2008. Now, the 200th location won’t Fresh & Easy stores tend to return,” he said. “If they don’t have the right offerings, in the Health care is the big sticking point and the open until later this year at the earliest. Last “Fresh & Easy’s big challenge is, perhaps, get- long run, it’s not going to do them any good,” he two sides are to meet Monday with a federal year, it closed13 locations, mostly in Nevada ting folks through the door in the first place.” said. “No one really cares about one-time visits. mediator. The union claims the grocers want to and Arizona, saying they would be reopened There is local precedent. Trader Joe’s partic- Even if they go there (only) for the remainder of essentially defund a trust fund that pays for when the economy improves. ularly benefited from the last strike, as did a strike, that’s not what Fresh & Easy needs.” Waste: Competitors Trash Rival Recycling Plants of the Los Angeles County Disposal Associa- street-sweeping con- Continued from page 1 tion, a waste industry trade organization. “Every- tracts got it in some body recognizes that we don’t have enough.” trouble last year when planning what would be its largest recovery State laws mandate that local jurisdictions a competing street facility in Los Angeles County just two miles recycle 50 percent of their waste. Haulers use sweeper sued it for away in neighboring Azusa. different methods of sorting out recyclables unfair competition. The Waste Management, the nation’s biggest before dumping the rest in a landfill. case has since settled trash company and a major local hauler, is mov- After picking up trash from clients, Athens out of court. ing in on Athens’ backyard. Athens Services hauls it to the company’s existing MRF in Indus- The clash intensified may be all but unknown outside of county lines, try that uses a combination of technology and earlier this month in but it has a strong foothold in the San Gabriel hand labor to pick out recyclable materials, Irwindale’s lawsuit Valley, where it has contracts with 15 cities. including metals, plastics and paper products. against Azusa in Los “They don’t want us to be successful,” said Much of the waste is then put in bales and sold to RINGO H.W. CHIU/LABJ Angeles Superior Court; Azusa: Site for Waste Management’s recycling facility. Mike Hammer, Waste Management’s director various buyers, including smelters and cardboard the suit alleges that the of recycling operations for the L.A. area. box makers, which is lucrative when prices for for the closure, the Los Angeles County Sani- environmental impact report for Waste Manage- “Having Waste Management’s state-of-the-art commodities rise. Organic waste is sent for com- tation Districts, an independent countywide ment’s MRF failed to properly study its effects facility only a few miles away from a very posting, and the rest is sent to landfills. Athens agency that owns and operates Puente Hills, is on traffic. large facility being proposed by Athens is a also charges independent haulers to use its MRF. building a facility in Whittier that would trans- Irwindale Planning Director Ray Hamada competitive threat to them.” The Irwindale project would essentially be fer waste by rail to the Mesquite Regional denied business competition was behind the The rival projects have already set off a a larger and more advanced version of the landfill in Imperial County. But that could cost lawsuit. He said city officials were concerned legal fight between the host cities. This month, Industry facility. haulers more than twice as much given that the Azusa facility would draw hundreds of Irwindale sued Azusa, claiming the environ- Waste Management has consumers sort Mesquite is 200 miles away. That’s an oppor- garbage trucks per day through Irwindale’s mental impact report on the Waste Manage- waste into multiple bins, then sends the contents tunity for Athens and Waste Management. downtown area, hurting businesses there. ment MRF was inadequate. to different places. The company has MRFs “Our ability to take waste to a transfer sta- But it’s clear the projects are financially “We speculate that (Athens) would prefer around the county that handle only bottles, cans tion in Azusa will provide a much more eco- valuable to the cities – and would be more so if that the Waste Management facility not be up and paper, and others for organic waste. It also nomical disposal solution than loading it on a only one were built. and running,” said Azusa City Manager Fran has separate MRFs dedicated to construction train and hauling it over 200 miles away out in Azusa is dipping into reserves this year to Delach. debris. Sometimes, it sends waste to third-party the desert,” Hammer said. balance its budget; Irwindale is projecting a For its own part, Azusa has filed public facilities, including Athens’ MRF in Industry. budget shortfall in the millions of dollars. records requests for Irwindale city documents, But now Waste Management is thinking big- Even fight? Waste Management’s project would create 60 including e-mails and memos, related to the ger. Its Azusa facility would be a one-stop shop Athens may be a fraction of the size of jobs in Azusa and result in $1.5 million in fees Athens MRF. that would be able to do the job much more effec- Waste Management, which reported $12.5 bil- a year. Athens’ project in Irwindale is project- Athens representatives did not respond to tively. (Waste Management has another MRF lion in revenue last year, but on a local scale ed to create more than 200 jobs and around $3 requests for comment. project in Sun Valley that would be a similar size.) this isn’t exactly David and Goliath. million in fees for the city, which gets paid for “This will be the future of the waste indus- Athens and other local haulers, including every ton that’s processed. Diverting recyclables try,” Hammer said. “Building new facilities Fontana’s Burrtec Waste Industries Inc. and Hammer said Waste Management plans to Why the fight over recycling plants? As land- with the best technology allows us to pull the Crown Disposal Co. Inc. in Sun Valley, com- proceed with its project even if Athens does so fill space declines, the long-term prospects of recyclable materials out of the waste stream in pete fiercely with Waste Management and also. But if one of the facilities were not built, or trash companies will depend more on their ability the most efficient manner possible.” Phoenix-based Republic Services Inc., the even delayed, that would help the other draw to efficiently divert materials from landfills. In Al Kaschalk, an analyst at Wedbush Secu- nation’s two biggest waste companies. more business – and fees for the host city. recent years, Waste Management has even rities in downtown Los Angeles who follows Athens prices its services aggressively, and Saldana, director of the local waste industry changed its motto to “think green,” invested more Waste Management, said there is no doubt the has taken advantage of the economic climate trade association, said it’s incredibly difficult in MRFs and bought companies that convert recy- industry has changed. as cities have been going out to bid more fre- getting waste facilities approved in Southern clable materials to energy. “In 1990, it was all about owning landfills. quently and pressuring haulers to lower rates. California. The fact that both companies have Locally, there’s widespread agreement in Now it’s about owning the (recyclable) resources Earlier this year, it won an eight-year, $50 cities willing to fight for their projects in court the industry that the coming closure in 2013 of or trying to get access to the resources, which are million contract from Redondo Beach. But it is a sign of their savvy. the Puente Hills landfill, the largest in the getting increasingly more valuable,” he said. failed to steal away Waste Management’s con- “These are both aggressive companies that county, will increase demand for MRFs. Accelerating the trend is the closure of tract in Manhattan Beach, which was renewed play a very heavy political game,” he said. “There is a push right now for additional Puente Hills, which has long provided a cheap even though Athens bid almost $4 million less. “They’re not going anywhere, and that’s why facilities,” said Ron Saldana, executive director way for haulers to dump trash. In preparation What’s more, the company’s low bids for you see it as a knock-down, drag-out fight.” 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

52 LOS ANGELES BUSINESS JOURNAL AUGUST 29, 2011 Development: End of Road for Green Corridor? the area that features galleries and lofts. developer Trammell Crow, a unit of CB Continued from page 1 The Villaraigosa administration lays most 101 Richard Ellis Group Inc. in West Los Ange- Downtown of the blame for the lack of progress on the TEMPLE les as the runner-up. jobs and revenue for Los Angeles,” the mayor clean technology corridor on bad timing. The Los Angeles Genton signed a preliminary deal to devel- said in a statement to the Business Journal. initiative began just as the real estate market E. 1ST op the site but pulled out in May.

The Trammell Crow negotiations represent tanked and the economy entered the worst E. 3RD Each side now points fingers. Jenny Scan- the fifth attempt to bring clean tech companies to recession in 75 years. 101 lin, CRA downtown project manager, said the 21-acre site, once home to a bus manufacturer. “The fact that this particular initiative hasn’t Business 5 Genton couldn’t bring its financial partners But Dallas-based Trammell Crow faces sig- performed perfectly in eyes of others and some Incubator WHITTIER to the table. In response to Business Journal inquiries, nificant hurdles. The property requires a mas- folks here is not a shock,” said Matt Karatz, Vil- E. 6TH BLVD. sive cleanup, the city’s redevelopment agency laraigosa’s new jobs czar and point man on the Lo 10 Genton released a statement that put the blame faces a deadline for repayment of a $13.4 mil- corridor. “There are a lot of things that we s A largely on the contamination problems and the E. 7TH ng AVE. requirement that only clean tech companies lion loan on that property that has already been pushed that will either take longer or need to get ele E. 9TH CLEANTECH extended twice and, finally, fallout from a state re-evaluated in order for us to see real progress.” s could be considered for tenants. CORRIDOR R law reforming CRAs complicates matters. . Soon after Genton pulled out, the CRA Larry Kosmont, an L.A.-based economic Troubled site CENTRAL reached a deal on a cleanup plan for the site development consultant who is not involved in Chief among the things Karatz referenced with the state. That may ease the way for rede- E. OLYMPIC BLVD the project, said that if Trammell Crow can’t is redevelopment of the 21-acre site at Wash- A 10 velopment. At about the same time, the agency make the project work, that should be a signal ington Boulevard and Santa Fe Avenue, once E. 15TH put out another request for proposals. that the CRA and the Villaraigosa administra- home to bus and fire engine manufacturer Five of the original seven bidders resubmitted

tion should change course. Crown Coach. When it closed 20 years ago, it 1/4 mile ALAMED proposals, including Genton and Trammell Crow.

“Chances are that Trammell Crow will realis- left chemical contamination in the soil. AVE.FETA SOTO This time, though, the CRA rejected Gen- tically assess whether they can bring in clean tech Villaraigosa’s two predecessors, Richard E. WASHINGTON ton’s proposal. SAN Manufacturing companies,” said Kosmont, an expert in redevel- Riordan and James Hahn, tried but failed to BLVD. Center Scanlin at the CRA said Genton asked that opment. “If they conclude they can’t, they’ll come redevelop the site. Villaraigosa decided to the East West loan be extended for a total of to the city and tell them that. Then maybe the city make the site the centerpiece of his clean tech four years, a condition that the agency found will have enough cover to make a change.” corridor by turning it into a major manufactur- unacceptable. The CRA officially rejected the The clean tech corridor stretches more than ing center for alternative energy or alternative Genton proposal two weeks ago. 3 miles along both sides of the Los Angeles vehicle companies. Instead, the CRA chose to open negotia- River in the eastern part of downtown and His first effort was to bring Italian rail-car tions with Trammell Crow. extending southeast of downtown. The 21-acre maker AnsaldoBreda Inc. to the site to build Map Area Meanwhile, a new law that reforms rede- site sits at the south end of the corridor. It is the and service light-rail cars for local transit. But velopment agencies throughout California has largest open lot and seen as the corridor’s cen- the deal fell apart in early 2009 when the com- LOS ANGELES delayed the project’s progress. Earlier this terpiece property for development. pany pulled out after questions over whether it month, the state Supreme Court ruled that

Other parcels in the corridor are envisioned could deliver the cars as promised. 5 miles redevelopment agencies cannot sign any new to eventually be occupied by mostly clean tech Later that year, Santa Clara solar panel contracts or deals until it rules on whether the companies, but for now, those properties manufacturer Applied Materials Inc. attempt- law is constitutional. would have to be purchased separately, proba- ed to set up a plant, but the firm failed to get an If that ruling is delayed beyond Feb. 1, the bly through eminent domain, in order to make expected contract from the Los Angeles CRA would be unable to sign a contract with them attractive to clean tech companies. Department of Water & Power. Pasadena’s East West Bank, owed a $13.4 Trammell Crow before the bank loan exten- Very little progress has occurred anywhere Last year, electric-vehicle maker Coda million note that was due May 1. With no sion comes due, raising the specter of default. in the corridor. Only one clean tech company Automotive Inc., now based on Fairfax Avenue prospect of bringing in a tenant on its own, Bradley Cox, Trammell Crow senior man- has moved into a business incubator there: a near the Santa Monica (10) Freeway in Los the CRA decided to sell the site to a develop- aging director, told the Business Journal last nascent electric vehicle-charging station opera- Angeles, considered building a lithium-ion bat- er and use the proceeds to pay off the loan. week in an e-mail that the development com- tor with six employees. (See sidebar on this tery-pack assembly facility, but wasn’t able to The developer would then be responsible for pany has some confidence, but acknowledged page.) One other company, Green Bar Collec- get the financing it needed, according to a rede- constructing buildings on the site and seeking that there are challenges. tive, an organic alcoholic drink maker, is close velopment agency report. The company is now clean tech tenants. “We are cautiously conducting our due dili- to moving in with a handful of employees. attempting to build a plant in Columbus, Ohio. The agency put out a request for proposals gence to ensure a successful project which can The CRA is also considering renaming Meanwhile, a cash crunch approached: in September. In March, the CRA selected be financed in today’s highly volatile financial about half the area the Arts and Innovation The CRA, which had bought the site from Culver City developer Genton Property markets,” Cox said. “We are optimistic that we Corridor to capitalize on an arts community in the state three years ago using a loan from Group as its top choice and Dallas-based will enter into a deal.” Charging Station Company Opens L.A.’s Incubator

T’S the only success story so far in Mayor was exactly what she was looking for. IAntonio Villaraigosa’s plan for a clean “We need to be close to green technology technology corridor that he proclaimed would companies, to be able to work with them,” make the city the nation’s leader in alternative she said. energy and alternative vehicle companies. So far, 350Green has about six employees Last week, a “clean tech incubator” opened in in the incubator building; besides incubator a small industrial building on the east side of staff, they are the only employees in the downtown with its first tenant moving in: building on Hewitt Street. Walti said he’s 350Green, a company that installs and oper- received inquiries from about a half-dozen ates electric-vehicle charging stations. companies and is in discussions with two of Ukrainian immigrant Mariana Gerzanych, them to move into the building. chief executive of 350Green, started her com- The incubator’s official opening is sched- pany three years ago in Washington, D.C. uled for October. Subscribers pay the company a monthly fee Walti said the building will be able to to use its charging stations for juicing up their handle up to eight small companies with electric vehicles. 30 total employees among them. But pre- Last year, Gerzanych and her business part- liminary work has already begun on a per- ner, 350Green President Tim Mason, moved manent building a few blocks away that the company to San Diego to be near one of Walti said will be able to house 350 clean the major charging station manufacturers. tech company workers when it opens in But Gerzanych said she wanted to be in about two years. Los Angeles because she sees it as the But even if that building reaches full biggest market for electric cars. She was capacity, the incubator wouldn’t fulfill Vil-

looking for a way into the market when she RINGO H.W. CHIU/LABJ laraigosa’s vision of a nation-leading clean ran into Fred Walti at a conference some Hooked Up: From left, 350Green’s Kerry Benjamin, Tim Mason and Mariana tech corridor. months ago. Walti had just been tapped by Gerzanych with incubator Director Fred Walti at downtown headquarters. “The incubator is a good thing; but it’s not Villaraigosa to head an effort to open a a major transforming event for the corridor,” business incubator in the middle of the Redevelopment Agency. The incubator business coaching staff. said Larry Kosmont, an L.A. economic devel- clean technology corridor. charges discounted rent of $300 for each “We see ourselves as the business equiva- opment consultant. “Companies can start The incubator was set up with money employee a tenant company brings into the lent of a baseball farm team for the clean tech there and get ready to bring products to mar- from the Los Angeles Department of Water building. It also provides basic furniture, sector,” Walti said. ket, but eventually, they have to move on.” & Power and the Los Angeles Community telecommunications hookups and access to Gerzanych said the clean tech incubator – Howard Fine 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 INDEX LOS ANGELES BUSINESS JOURNAL 53

‘They were joking ‘I think Casey ‘With retail that I only got flat-out thought projects, speed about 6 inches off I sucked.’ and urgency are the ground.’ STEVEN STREIT, always important.’ JONATHAN LARSEN, Green Dot Corp., KEVIN DOW, Transwestern, on Kasem’s opinion Turner Construction Co., on Masai of his DJ skills, PAGE 27 Jumping dance, PAGE 13 PAGE 3

PEOPLE Dow, Kevin ...... 27/28 Hudson, Paul ...... 7 N Schumacher, Scott ...... 46 Namvar, Ezri ...... 12 Shannon, Kevin ...... 46 E I Neuman, Jerry ...... 26 A Sherwood, Rod ...... 10 Edelberg, Sherwin ...... 6 Isaacs, Barak ...... 6 Aldrich, Ken ...... 13/14 Nicholson, Ford ...... 5 Efstathiou, George ...... 4 Norgard, Brian ...... 3 Short, Karen ...... 1/51 Anderson, Percy ...... 12 Ehrbar, Al ...... 10 K Sneider, Arturo ...... 20 Aptaker, Robert ...... 22 Espina, Claire ...... 6 Kalisman Taubman, Jason ...... 8/9 O Arrington, Michael ...... 3 Snyder, Jerry ...... 46 Karatz, Matt ...... 1/52 O'Day, Terry ...... 3 Ayers, Dennis ...... 54 Somerville, Jamie ...... 5 F Karczewski, Lisa A...... 4 O'Reilly, Bill ...... 10 Finestone, Neil R...... 54 Kaschalk, Al ...... 1/51 Stallman, Steve ...... 1/51 B Kasem, Casey ...... 13/14 R Streit, Steven ...... 13/14 Beckman, Jason ...... 8/9 G Kosmont, Larry ...... 1/52,52 Reagan, Michael ...... 3 Berman, Stephen ...... 12 Garro, Alejandro ...... 6 Regener, Wolf ...... 5 V Black, Clive ...... 1/51 Gerzanych, Mariana ...... 52 L Resnick, Lynda ...... 3 Villaraigosa, Antonio ...... 1/52, 52, 55 Bowman, David ...... 3 Gilles, Mike ...... 5 Larsen, Jonathan ...... 3 Resnick, Stewart ...... 3 Burkle, Ron ...... 8/9 Glover, David Lee ...... 24 Levenson, Richard ...... 7 Rice, Connie ...... 55 W Gould, Dan ...... 3 Luchs, Jay ...... 25 Rifkind, David ...... 27, 28 Walti, Fred ...... 52 C Green, Jeff ...... 9 Riordan, Richard ...... 1/52 Caruso, Rick ...... 20 Greif, Lloyd ...... 8/9 M Rodino, Robert J...... 55 White, Ken ...... 46 Chan, Thomas T...... 4 MacKenzie, Gwen ...... 24 Rogers, David ...... 22 Williams, Lori ...... 54 Charney, Bob ...... 54 H Mason, Tim ...... 1/51 Roth, Peter ...... 27 Wonnacott, Brendan ...... 1/51 Charney, Dov ...... 8/9 Hadges, Tom ...... 10 Mason, Tim ...... 52 Rudis, Jim ...... 5 Childers, Karen ...... 3 Hahn, James ...... 1/52 McGrath, Jack ...... 12 X Cox, Bradley ...... 1/52 Hamada, Ray ...... 1/51 McLoughlin, Brian ...... 46 S Hammer, Mike ...... 1/51 Mescobi, Allen ...... 54 Saldana, Ron ...... 1/51 Xann, Amelia ...... 55 D Hanagami, Steven S...... 4 Miller, Steven ...... 9 Santiago, Dennis ...... 7 Delach, Fran ...... 1/51 Holbrook, Robert ...... 3 Moritz, Mike ...... 13/14 Scanlin, Jenny ...... 1/52 Z Dominguez, Juan ...... 6 Hsu, Cliff ...... 12 Mungo, Casey ...... 46 Schklair, Steve ...... 12 Zuckerberg, Mark ...... 3

COMPANIES, Clear Channel Communications Inc...... 10 Guess Inc...... 12 N Southern California ASSOCIATIONS, ETC. Coda Automotive Inc...... 1/52, 3 GVA Daum Commercial Namesake.com ...... 3 Multiple Listing Service ...... 4 Colbeck Capital Management LLC . . . . .8/9 Real Estate Services ...... 46 Nestle S.A...... 5 Sports Authority Inc...... 9 1 - 9 Columbia Law School ...... 6 New York Life ...... 10 Stadium Capital Management LLC ...... 9 H 350Green ...... 52 CompuLaw LLC ...... 4 Newegg Inc...... 12 Stallman Marketing ...... 1/51 H.J. Heinz Co...... 5 3ality Digital ...... 12 CoStar Group Inc...... 46 NSBN LLP ...... 54 Crown Disposal Co. Inc...... 1/51 HCP Inc...... 12 T A O TD Securities ...... 5 I Aderant ...... 4 D Oaktree Capital Management L.P...... 10 Tesco PLC ...... 1/51 Aecom Technology Corp...... 54 DealerTrack Holdings Inc...... 12 Illi Commercial Real Estate ...... 24 Office of Thrift Supervision ...... 7 Tesla Motors Inc...... 3 AeroVironment Inc...... 4 Demand Media ...... 54 ING ...... 10 OSI Systems Inc...... 12 Trammell Crow Co...... 1/52 ALG Inc...... 12 Dial Global ...... 10 Institutional Risk Analytics ...... 7 Overhill Farms Inc...... 5 Transamerica ...... 55 Allen Matkins Leck Dick's Sporting Goods Inc...... 9 iStockAnalyst ...... 54 Transwestern ...... 3 Gamble Mallory & Natsis LLP . . . . .27, 28 DineEquity Inc...... 54 P TrimTabs Investment Research ...... 54 J American Apparel Inc...... 8/9 Dole Food Co. Inc...... 6 Panda Restaurant Group Inc...... 5 Triton Media Group LLC ...... 10 Jakks Pacific Inc...... 12 Applied Materials Inc...... 1/52 Paramount Farms ...... 3 TrueCar Inc...... 12 E Jerde Partnership ...... 22 AsaldoBreda Inc...... 1/52 Paramount Pictures ...... 55 Turner Construction Co...... 27/28 East West Bank ...... 1/52 Jewish Community Foundation of Los Asos plc ...... 8/9 Pechala's ...... 10 Ebay Inc...... 8/9 Angeles ...... 55 Athens Services Inc...... 1/51 Pollack Media Group ...... 10 U Element Technica ...... 12 JH Snyder Co...... 46 U.S. Department of Veterans Affairs . . . .12 Auto Gallery ...... 3 Pom Wonderful ...... 3 Embarcadero Capital Partners ...... 46 United Food and Primestor Development Inc...... 20 B EVA Diomensions LLC ...... 10 L Commercial Workers ...... 1/51 Provost Umphrey Law Firm LLP ...... 6 Bank of America Corp...... 8/9 Exxon-Mobil Corp...... 5 Laemmle Theatres ...... 4 University of Florida ...... 13/14 Lamborghini North Los Angeles ...... 3 Bankers Petroleum Ltd...... 5 Q Barneys New York Inc...... 8/9 F Landmark Vineyards ...... 3 V QTC Holdings Inc...... 12 Bellisio Foods Inc...... 5 Facebook Inc...... 3, 46 Law Offices of Edelberg & Espina ...... 6 Vantage Property Investors ...... 46 Fiji Water ...... 3 Lion Capital LLC ...... 8/9 Ventas Inc...... 12 Big 5 Sporting Goods Corp...... 9 R Finestone Partners ...... 54 Lockheed Martin Corp...... 12 Vista Equity Partners LLC ...... 4 BMO Capital Markets Corp...... 1/51 RE Group Inc...... 54 BNK Petroleum Inc...... 5 First General Bank ...... 12 Los Angeles Community Voit Real Estate ...... 46 Republic Services Inc...... 1/51 Boston Market Corp...... 5 Fox Rothschild LLP ...... 4 Redevelopment Agency ...... 1/52, 52 Rite Aid Corp...... 13/14 Broadway Financial Corp...... 7 Fresh & Easy Los Angeles County W Rodino Associates Inc...... 55 Brookfield Office Properties ...... 27/28 Neighborhood Markets Inc...... 1/51 Disposal Association ...... 1/51 Wal-Mart Stores Inc...... 55 Burrtec Waste Industries Inc...... 1/51 Los Angeles Department Walt Disney Co...... 55 S G of Water & Power ...... 1/52, 52 Waste Management Inc...... 1/51 Safeway Inc...... 5 C Gensler ...... 24 Los Angeles World Airports ...... 12 Wedbush Securities Inc...... 1/51 Scoop NYC ...... 8/9 California Employment Genton Property Group ...... 1/52 LW and Associates ...... 54 Wells Fargo & Co...... 55 Sheppard Mullin Development Department ...... 12 George Smith Partners Inc...... 27, 28 Western Financial Corp...... 7 Richter & Hampton LLP ...... 26 California Regional Multiple Glendale Adventist Medical Center ...... 4 M Westwood One Inc...... 10 Listing Service Inc...... 4 Golden Security Bank ...... 12 Macerich Co...... 22 Shore Capital Group Ltd...... 1/51 California State Bar ...... 6 Gores Group ...... 10 Maechling Family Trust ...... 46 Smart & Final Inc...... 1/51 Y Caruso Affiliated ...... 20 Gores Radio Holdings LLC ...... 10 Marketplace Grill & Café ...... 4 SoCal Carriers Inc...... 46 Yucaipa Cos...... 8/9 CB Richard Ellis Group Inc. . . .1/52, 25, 46 Green Bar Collective ...... 1/52 MassMutual ...... 10 Sony Pictures ...... 55 Chan Law Group LLP ...... 4 Green Dot Corp...... 13/14 Metro Traffic ...... 10 Southern California Edison ...... 55 Z Chill.com ...... 3 Growth Group ...... 5 Mosiac Marketing Communications . . . . .54 Southern California Gas ...... 55 Zac Posen ...... 8/9

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

54 LOS ANGELES BUSINESS JOURNAL COMMENTARY AUGUST 29, 2011 LOS ANGELES BUSINESS JOURNAL ® Taking Stock of Buybacks 5700 WILSHIRE BLVD., SUITE 170, LOS ANGELES, CA 90036 UDDENLY, stock buybacks are all the rage. too low relative to the improving prospects for back their own stock not for a normal and good (323) 549-5225 FAX 549-5255 DineEquity Inc., Aecom Technology Corp. their companies, so much so that they feel com- reason but for the abnormal reason that there’s lit- www.labusinessjournal.com and Demand Media are among the L.A. pelled to buy, and buy right now. In other words, tle else to do with the money in this sour economy. S PUBLISHER & CEO companies that in the last two weeks have the smart money thinks the bottom has been hit. Something else to consider: Stock buyback pro- MATTHEW A. TOLEDO announced they’ll buy up some of But I wonder. This time, it may be grams are usually accompanied by brisk purchases [email protected] | ext. 207 their shares. They join a parade of different. Perhaps all the stock buy- by insiders. After all, if a company’s managers companies nationally, all snatching back activity is not a bullish signal at think the stock is a great buy for the company, the EDITOR CHARLES CRUMPLEY up their own stock. all. Maybe it’s just another symptom managers should believe it’s a good buy for them, [email protected] | ext. 208 As the article in last week’s issue of a sick economy. personally, too. DESIGN DIRECTOR ROBERT LANDRY of the Business Journal pointed out, Why? First, consider how a com- But we’ve seen little insider buying in many of [email protected] | ext. 243 the main reason for this spate of buy- pany with excess money would invest the buyback programs. In fact, TrimTabs Invest- MANAGING EDITOR LAURENCE DARMIENTO backs is that stock prices have gotten it in our economic environment. A ment Research of Sausalito, which for seven years [email protected] | ext. 200 so low, thanks to the market melt- business with a cache of cash could has been tracking the correlation of insider purchas- DEPUTY MANAGING EDITOR down, that they represent a good buy. buy another company, and many are es during stock buyback programs, said a couple of STEVE SILKIN What’s more, if a company needs to doing exactly that. But if buying months ago that it had never seen so few executives [email protected] | ext. 229 NEWSDESK EDITOR borrow money to make the stock pur- COMMENT another company is not an option, personally buying during their company’s buyback TOM HICKS chases, this is a great, low-interest era then what? programs. (However, last week TrimTabs said [email protected] | ext. 223 to do so. So the rush is on. Well, a company could simply insiders started buying more early this month.) REPORTERS CHARLES RICHARD CLOUGH Of course, buybacks have the ben- invest its cash somehow. But as noted, That means many executives, at least until [email protected] | ext. 251 CRUMPLEY DEBORAH CROWE efit of rewarding shareholders by interest rates are so low they’re barely recently, were saying their company’s stock is a [email protected] | ext. 232 supporting or even boosting the giving a pulse, and apparently they’ll great buy for the company. But they wouldn’t buy HOWARD FINE stock’s price. (Although one observer, writing last stay in that near-death state for years, so interest- it themselves. [email protected] | ext. 227 ALEXA HYLAND week for iStockAnalyst, made the case that recent bearing investments are a dud. Another typical A flurry of stock buyback programs normally [email protected] | ext. 235 stock buybacks didn’t do much to lift stock prices.) choice in normal times would be to use the cash to can be seen as a sign that the markets and the econ- NATALIE JARVEY [email protected] | ext. 230 Here’s the broader point: When lots of compa- expand the business – and lots of expansions omy may be getting set to take off. Alas, perhaps JAMES RUFUS KOREN nies are buying back their own stock, it’s usually a would be a clear signal that the economy was not this time. [email protected] | ext. 225 ALFRED LEE bullish sign for the stock market and the economy about to take off. But in this economy, very few [email protected] | ext. 221 in general. A surge of buybacks is a price signal, a companies are expanding. Indeed, many continue Charles Crumpley is editor of the JONATHAN POLAKOFF to hunker down. Business Journal. He can be reached at [email protected] | ext. 239 kind of blue-light special: It means lots of man- JOEL RUSSELL agers believe their stock prices have gotten way In other words, lots of businesses are buying [email protected]. [email protected] | ext. 237 JACQUELYN RYAN [email protected] | ext. 228 CHIEF EDITORIAL PHOTOGRAPHER RINGO H.W. CHIU [email protected] | ext. 256 LABJ FORUM RESEARCH DIRECTOR DAVID NUSBAUM [email protected] | ext. 236 Mayor Antonio Villaraigosa has called on changing Do you agree VICE PRESIDENT OF ADVERTISING JOSH SCHIMMELS Question Proposition 13 so taxes on commercial property with Villaraigosa’s [email protected] | ext. 218 could increase. So the Business Journal asks: proposal? ASSOCIATE SALES MANAGER DARRIN SENNOTT [email protected] | ext. 220 On 13 ADVERTISING ACCOUNT MANAGERS NAZ BAYAZIT [email protected] | ext. 253 LORI WILLIAMS BOB CHARNEY the economy. Most commercial leases are written LATOYA KNIGHT [email protected] | ext. 214 Chief Strategist President with the tenant covering the taxes. If the taxes rise, BILL MOIR LW and Associates Mosiac Marketing Communications small business may not be able to cover the cost [email protected] | ext. 216 ROSZ MURRAY I agree. It’s only logical, if I disagree for anyone owning property purchased and would close or relocate. Also, larger compa- [email protected] | ext. 215 you refuse to cap expenditures, during the period Proposition 13 is in force. For cur- nies may decide that the cost is too high and relo- HECTOR QUINTANA then you can’t cap revenue. So rent property owners, it would be unfair to impose cate to states with lower taxes. [email protected] | ext. 240 JIM SLATER it comes down to making some higher taxes on persons or institutions that made a [email protected] | ext. 209 hard decisions. I am in favor of commercial property purchase based on financial ALLEN MESCOBI SPECIAL EVENTS/ budget cuts over increasing analyses that included Proposition 13 provisions. Manager ADVERTISING COORDINATOR MARISSA DE LA CRUZ taxes, but that never seems to RE Group Inc. [email protected] | ext. 213 DENNIS AYERS be the chosen solution. I disagree, because most property owners will PRODUCTION ARTISTS Partner pass along such expenses to their tenants. In turn, SALLY FOSTER Williams NSBN LLP the tenants will raise their prices and/or rates, [email protected] | ext. 212 PATTY TSAI-CHU I disagree. While it seems an easy way to bring resulting in potential loss of income. At the end of [email protected] | ext. 242 NEIL R. FINESTONE in more revenue, it will have a negative effect on the day, small businesses and consumers will lose. CIRCULATION DIRECTOR Chief Executive MICHAEL LEVINE [email protected] | ext. 247 Finestone Partners CUSTOMER SERVICE I agree. Proposition 13 was never meant to LE MILLHAUSER protect commercial properties. It was designed to [email protected] | ext. 245 ZAINABU BRYANT protect those over 50 and retirees from being able [email protected] | ext. 244 to maintain or remain in their homes. NEW BUSINESS DEVELOPMENT REPRESENTATIVE JEFF LYON [email protected] | ext. 210

CONTROLLER NANCY SCHWARTZ Los Angeles Business Journal Poll [email protected] | ext. 202 ACCOUNTS RECEIVABLE Mayor Antonio Villaraigosa has called on SPECIALIST PATRICIA A. BENSON changing Proposition 13 so taxes on [email protected] | ext. 231 commercial property could increase. ASSISTANTS TO THE PUBLISHER BETH THERIAC I agree. [email protected] | ext. 249 I disagree. PAUL KNEZEVIC [email protected] | ext. 203

RECEPTIONIST ERIN SCHAUER [email protected] | ext. 270 88% 12%

CITY BUSINESS JOURNALS Online results for week ended Aug. 24 NETWORK 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

AUGUST 29, 2011 COMMENTARY LOS ANGELES BUSINESS JOURNAL 55 The Cost of Violence Stopping young people from joining gangs would be a solid investment for L.A.’s business community.

By AMELIA XANN The cost of OLD headlines appear across the front pages of newspa- incarcerating gang pers, and television reporters soberly file live updates members actually B from crime scenes. L.A. neighborhoods synonymous exceeds annual with gang violence seem remote to most of us, but they reach into all our lives. Because of our fraying social services network expenses at top and municipalities on the brink of insolvency, the business private universities, community can, and should, assist in the fight to prevent young which can total people from joining gangs. about $60,000 per As a first step, we must recognize that gang violence is a critical social issue, and it extracts a high toll on the business commu- student for tuition, nity and the general public. The city of Los Angeles alone har- room and board. bors over 400 gangs with more than 39,000 members, according to the Violence Prevention Coalition of Greater Los Angeles. Mayor Antonio Villaraigosa recently noted that while “overall crime continues to drop in Los Angeles, we continue to see gang violence as one of the serious threats facing our city.” Tagged: Gang graffiti in South Los Angeles. Gang violence is costly to the business community as urban blight and graffiti negatively affect real estate and property values. In addition, fear of crime deters both potential investors and plain-and-simple life and limb protection.” Since 2008, SNL has been recognized as a national model existing customers, and the impact on small business is profound. Finally, gang violence costs California taxpayers about $2 for violence reduction. This year, companies providing financial The detrimental consequences extend beyond the gangs and billion a year, says a Vera Institute study cited by Connie Rice, support include Wal-Mart, Southern California Gas, Sony Pic- tragically to their victims. Injuries to individuals result in loss of pro- civil rights attorney and founder of Advancement Project, a tures, the Walt Disney Co. and Paramount Pictures. ductivity, increased health care and insurance costs, mental health civil rights non-profit. Another program garnering corporate contributions is the concerns and post-traumatic suffering. The Vera Institute of Justice What are we to make of all the gloomy statistics cited here? I venerable Big Brothers Big Sisters of Los Angeles. Enterprises Cost Benefit Analysis reported that in 2006, medical care for vic- believe the importance of working together as a community – aligning donating funds to this mentoring program for at-risk youth, and tims of gunshot wounds in the city of Los Angeles cost California business leaders, policymakers and program providers – to address encouraging their employees to volunteer, include Southern Cal- and federal agencies an estimated $45 million. The same report said the problem of gang violence in Los Angeles cannot be overstated. ifornia Edison, Transamerica and Wells Fargo, to name a few. out-of-pocket expenses to victims such as loss of wages, property My employer, the Jewish Community Foundation of Los Yet even small and midsize companies can, and should, damage, medical and quality of life total some $1.1 billion annually. Angeles, recognizes the importance of supporting this issue. Ear- invest in our youth by supporting education, as well as existing In addition, young people who become gang members are an lier this year, we awarded grants totaling $200,000 to 10 L.A. gang prevention and intervention programs. Collaboration economic burden to society. The cost of incarcerating gang members community-based gang prevention and intervention agencies. between foundations, small businesses and corporate funders actually exceeds annual expenses at top private universities, which The largest grant, $50,000, went to the Advancement Project for can encourage and provide funds to create training programs, can total about $60,000 per student for tuition, room and board. A its work in partnering with law enforcement, Los Angeles Uni- paid jobs and after-school activities, offering at-risk youth pos- 2007 Urban Strategies Council study estimated the state of California fied School District safety personnel, and local school and busi- itive alternatives to gangs. paid some $175,600 per person during the 2006-07 fiscal year for ness leaders to ultimately create safe havens for students. At the very least, the business community needs to be young people incarcerated by the Department of Juvenile Justice. informed and concerned about gang violence, and the toll it It’s also notable that the face and geographic location of Summer Night Lights takes upon us all. A good place to start is a visit to Street- gang members is diversifying. According to a 2008 article in Another effective program, funded partly by the business com- Gangs.com/resources/programs, which offers an extensive the Philippine News: “Caucasian, Pacific Islander and Asian munity, is the city’s Summer Night Lights program. SNL keeps overview of local intervention initiatives. gangs – including splintered Filipinos in Carson, Glendale, city parks open after dark with athletic and arts activities for fami- Eagle Rock, Panorama City, San Fernando Valley, Rowland lies, and provides jobs for at-risk youth. Last year, neighborhoods Amelia Xann is vice president of grant programs and the Heights, West Covina, Cerritos and Lakewood – fight for either with SNL sites experienced a 40 percent drop in gang-related Family Foundation Center at the Jewish Community turf supremacy, cultural identity, economic/territorial power, or crimes and a 57 percent reduction in gang-related homicides. Foundation of Los Angeles. Gains From Wal-Mart-Style Stores Not So Super

By ROBERT J. RODINO foot superstore with a sales volume of $50 million to $100 million five years. Where this occurs, consumer choice is reduced as well as per year must take most of its sales from surrounding retailers with- employment, municipal revenues and property values. HE Aug. 8 edition of the Business Journal carried an opin its trade area. This is called “cannibalization of retail sales.” Further, Wal-Mart in particular has been known to relocate ed (“State Measure Would Box In Local Communities Consumer retail expenditures are dependent on consumer out of its existing stores to what is believed to be a better location, T on Growth”) and an article (“Business Rips Bill’s Super- income. Developing a Wal-Mart-style superstore in a mature often leaving its former stores dark while holding on to the lease, store Impact”) critical of SB 469, a proposal that would require urban market does not alter consumer incomes and does not alter thus preventing other retailers from occupying the former loca- California cities to conduct economic impact studies before consumer expenditures. Consumers merely redistribute their tion. When this occurs, and particularly if combined with closed approving Wal-Mart-style superstores. Charles Crumpley fol- expenditures. Superstore gains in sales largely come from the grocery stores within the trade area, property values decrease and lowed that up with a similarly themed Comment column surrounding retailers’ losses. While a portion of sales can be surrounding businesses, dependent on proximity to the superstore (“Unstable Chain Reaction”) in the Aug. 15 issue. made up from consumers coming into a trade area, i.e., into the or supermarket, lose business. The cascading impact can mean a Aside from the technicalities of the legislation, the underly- city of Los Angeles from outside the city, this is rarely sufficient loss of property values to property owners, and a loss of property ing criticism that it would stymie economic growth in Califor- to satisfy superstore annual sales volume. Regionally, there taxes and sales taxes to the local municipality. nia’s communities is based on a misunderstanding of the would be little or no net new retail sales growth, since retailers Advocates for business need to be asked what businesses are dynamics of the retail business. The impact of Wal-Mart-style outside the trade area would correspondingly lose sales volumes. they advocating for – giant corporations or local small business- superstores on the businesses in local communities is often just es? Nationally we accept the idea that small businesses are job the opposite of what superstore advocates claim. No ‘net new jobs’ creators. Why does this change for local retailers in California? I authored the superstore impact study in 2003 for the city of With no “net new expenditures” there are no “net new jobs” cre- Of course, supermarket chains are also large corporations, Los Angeles and in recognition of this dynamic, I recommend- ated. In fact, a decrease in retail employment may occur since super- but their wages, benefits and general business practices are eco- ed that an economic impact study be required before a Wal- stores can generate more sales with fewer employees. Jobs at super- nomically stimulative. Ask any shopping center developer Mart-style superstore was approved. The city structured its reg- stores often pay less with lower benefits than corresponding posi- whose Wal-Mart superstore has gone dark and remains dark ulating ordinance around my recommendations. tions at competitive retailers, particularly jobs at unionized super- because a better location was found: How is it going with the In my 2003 study, updated in June 2010 for the city of San markets or retailers paying union-scale wage and benefit packages. “economic growth” idea? Ask retailers in that shopping center Diego, and in dozens of similar studies conducted across the With lower prices at superstores than at local competitors how they are faring with a dark superstore in their midst. United States and Canada, this dynamic of retail cannibalization (although not universally true), sales tax revenues may actually Let’s work for real economic growth in California, but let’s is well documented. decrease as a result of the superstore, since sales taxes are based not fall for the claims of Wal-Mart style superstore advocates The development of superstores in California and in most on the dollar volume of sales, which may decrease if there are without a close examination – without an economic impact study. other regions of the nation raises a complex range of issues con- no net new retail expenditures. cerning the superstores’ costs and benefits, fiscal implications In some communities, competing grocery stores have closed due Robert J. Rodino, Ph.D., is head of Rodino Associates, a for local communities, governments and land-use policy. to reduction in sales. This occurred in the Dallas region in the late consulting firm in Los Angeles and in State College, Pa., that Simply put, in a mature urban market such as Los Angeles, San 1990s and early 2000s. When 17 Wal-Mart superstores and Sam’s provides economic development services to municipalities, Diego, Sacramento, etc., a 100,000-square-foot to 200,000-square- Club opened in the area, 29 major chain supermarkets closed within developers and non-profits. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

56 LOS ANGELES BUSINESS JOURNAL AUGUST 29, 2011

“The mortgage process was a pleasure. We could not ask for better treatment.”

BILL BRATTON, CHAIRMAN, KROLL (AN ALTEGRITY COMPANY) RIKKI KLIEMAN, TELEVISION LEGAL ANALYST, ATTORNEY, AUTHOR

private banking • wealth management • brokerage • trust

1-877-743-7777 • www.firstrepublic.com • new york stock exchange symbol: frc • member fdic brokerage services provided through first republic securities co., llc. member finra/sipc 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

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

1 2 345678

9 10 11 12 13 14 15 16

17 18 19 20 21 22 23 24

25 26 27 28 29 30 31 32

Thumbnails continue on next page 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

33 34 35 36 37 38 39 40

41 42 43 44 45 46 47 48

49 50 51 52 53 54 55 56 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

DIGITAL EDITION USERS GUIDE | TABLE OF CONTENTS Los Angeles Business Journal digital edition provides links to navigate through pages and articles easily whether you are on your mobile device such as iPad and computer. 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.

1 EDITORIAL LINK TO WEBSITE Computer Click or touch the headline for any story to link to the Web edition of the story. Subscribers can email any story from the labj.com Web site.

2 PAGE JUMPS Click or Touch on an jump tags leads you to and from the jump page

3 ADVERTISING LINK TO WEBSITE Click or touch an advertisement to be linked to an advertiser's Web site.

4 TABLE OF CONTENT3 PAGE Computer Click or touch table of contentS teaser will jump directly to the page of the story.

5 NAVIGATION TOOLBAR Click or touch table of content teaser will jump directly to the page of the story.

6 DOWNLOAD INSTRUCTION ON PC/MAC Click here to read instructions on downloading PDF on PC/MAC

7 DOWNLOAD INSTRUCTION ON iPAD Click here to read instructions on downloading PDF on iPad 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

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

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

'&.&6/#+&-(%H#*&,G*1/(%#)%'#(./H,(+H ,+(+A,.�,2+6/$#+J/ #&D'#+",,#,+&0(*&%'(&G&M&%10(L&,G ?'3,+0&//#5/ &%# &;2#/G(.&F.&%&+0)3#/0'&0,-&M&%1 $(DAD.&&+5-)#+0 0(L� !&+!) &;,+)30,0#J&0'&/#*&0(0)& %,1)B+50D&0 0'(/*,+0'#0+&#.$36#$*"#)!5++! &;.&-)#% (+0,0'&$)#%F (+H,#++&A(*'&./&)G#G,.*&.#+*(,GG(%&. 100'#06/+,0#)) ",,6//'1GG)&%#*&+,0),+H#G0&.) &;6/%'(&G&M&%10(L&(+A(*/0&--&FF,2+ #+F0,,J0'&'&)*,G#+&#.$3)&+F&.+,2+#*&F '-.*' (!& &;+0'&*(FF)&,G#)),G0'(/5!"& &;6/)&#F&.'1+H,,+",1J.&/(H+&FG.,* '(/-,/02'(%''#/+,03&0$&&+G())&F ,+G1/&F3&0?

)&#/&/&&;-#@&7 5"+(-*!"+5 -&))$% ( ? 8 &#+>%#.$,. 9/+$,9&D$<6,&/(+% $,*-.,/#./,$-0*,@$,-!.=!#&'&.1&)!0.%*,)$ ,1D' '#/ /01%F ()

1 HEADLINES: Touching headlines leads you directly to the labj.com article. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

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

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

)&#/&/&&;-#@&7)&#/&/&&;&#/&/&&; 5"+(-*!"+ -&))$% ( ? 8 &#+>%#.$,. 9/+$,9&D$<6,&/(+% $,*-.,/#./,$-0*,@$,-!.=!#&'&.1&)!0.%*,)$ ,1D''#//01%F 0,)#$&)*#F&. 5 1.*,(),L&./&#/ H&.3&++(/,+ *#3$,,/0M36/F,*&/0(%G,%1/ +&#.)3'(/2',)& %#.&&. 2+%- -%0 4"#<0#??&-,.0&.

2 PAGE JUMPS: Touch jump tags leads you to and from the jump page 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

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

9!).!$9+,&)>-6 9.,$!('&.$2-)$0!)<'!,>$,=!#&'&.1 $10/,*&*#3+,0$&-1$)(/'&>>1&0,/-#%& ??>> )(*(0#0(,+/ #*&&L,)10(,+%,*L(F&,H#*&+&02,.J )&#/&#>>.&//#))(+C1(.(&/0,0'&&*#() !-%&*)&#>/+5 ')7*+)'%& #C�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

# ! " ! $ # ! ## " #

s 6%.452!",6$s 7'2%%.34s 30#(s .$34s .-//20!2+2$s 5.)6%23!,345$)/3",6$s 4(%!4%2$2s

3 ADVERTISING LINKS: Touch hyperlinks leads you directly to the website 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

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

>> >>> "

5 5 555 B

# !

!>$56!..%$09.*/<.0&.%*)$*=/.#!-.2->!-+/(+!-#,$$)- 77 QF,/J(.(/*,L(+HG,.2#.F,+ " " " % ! ""!"$ ##/!&H#/L&+1&#/'#(0/2,.F,+'(/ ! # " !%" ! Q,%#)/0#.01-/'#L&#FF&F&M0.#-&.J/QQ /0#F(1*-)#+'&.& #+F$&+&G(0/0,)1.&'#.F0,G(+F&M-&.(&+%&F#+F$&+&+& *'/()-;$!./,$- Q&F(#D#0%' &+H(+&&./&+H(+&( &2/,G0'&D&&J # 7 Q .F&./G,.H(#+0+&2<

7 Q#.%.(&F)#+F6/-(0%'0,.&F&/(H+ *'/()-;$!./,$- Q%,+,2#0%' 0'&%#F&*32#.F/&+L&),-&/'#/# &.H&./%K1(/(0(,+/ C0,%J ,))32,,F&+F(+H +F&M Q(,-)#/0(%/*#J&. &.&-)#/0',-&/0,*#J&#*#.J,+0'& 7 (+F1/0.32(0'#+&2O%,*-,/0#$)&R),H, Q,.*&..,%/&M&%10(L&/2&.& *'/()-;$!./,$- Q&#)/0#0& /',,(+/2'&+(0%#*&0(*&0,$,,/0$1/(+&// ,)1*+ G,.#%JI,3.0',0(%/ *'/()-;$!./,$- Q#H& &H(,+#) 7 &-,.0 6 Q '&;$(HH&/0#%%,1+0(+HG(.*/ (+,/+H&)&/,1+03.#+J&F$3+1*$&.,G 87 77 (G()('

4 TABLE OF CONTENT: Touch table of content teaser will jump directly to the page of the story. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

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

2-Page Spread Single Page View Thumbnailshumbnaihumbnail | LABJJ User GuideGGu | Front PagePag | Tablelee of ContentCon Previous Page Zoom In Zoom Out Next Page

>> >>> "

5 5 555 B

# !

!>$56!..%$09.*/<.0&.%*)$*=/.#!-.2->!-+/(+!-#,$$)- 77 QF,/J(.(/*,L(+HG,.2#.F,+ " " " % ! ""!"$ ##/!&H#/L&+1&#/'#(0/2,.F,+'(/ ! # " !%" ! Q,%#)/0#.01-/'#L&#FF&F&M0.#-&.J/ /0#F(1*-)#+'&.& #+F$&+&G(0/0,)1.&'#.F0,G(+F&M-&.(&+%&F *'/()-;$!./,$- Q&F(#D#0%' &+H(+&&./ &2/,G0'&D&&J # 7 Q .F&./G,.H(#+0+&2<

5 NAVIGATION TOOLBAR: Touch navigation button to go to speciﬁ c page indicated. iPad Only 'Thumbnails, LABJ User Guide, Front Page and Table of Contents will appear on iPad. Computer The entire navigation toolbar for computers will appear for expanded navigation options. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Content Previous Page Zoom In Zoom Out Next Page

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Thumbnails, User Guide, Front Page, Table of Contents

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

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