Thumbnails | SFVBJ User Guide | Front Page | Table of Contents $3.00 VOL. 16 NO. 6 March 14 - 27, 2011 www.sfvbj.com
Up Vitesse Returns Front to NASDAQ TECH: Move eases disruption at Camarillo firm.
By MARK R. MADLER Staff Reporter
Vitesse Semiconductor Corp. has returned to the Studio is as busy NASDAQ after a five-year absence and being rele- as New York. gated to trading on the Pink Sheets. PAGE 3 The move by the Camarillo-based company makes its stock more attractive to investors as the tradability improves. 20 in Vitesse started trading on the NASDAQ Global Market on March 2. In the first week the company’s Their 20’s shares dropped by $0.20. Spokesperson Ronda Grech refused to make a company representative available but in a prepared statement CEO Chris Gardner said the listing was a new beginning for the company. “With the passage of this important milestone,
Please see VITESSE page 37
Some of the big achievers in the PHOTO BY DAVID SPRAGUE SolarWorld Gets greater Valley. Past: “Nostalgia will never be over,” said United Online CEO Mark Goldston. PAGE 9 Biggest Project People ENERGY: Deal with LADWP is Time Machine showcase for long-standing firm. United Online Adapts Again With Nostalgia Website By JO-ANN CAROL CUBELLO By MARK R. MADLER Staff Reporter In the end the Woodland Hills-based online serv- Contributing Reporter ices and products company was able to get Memory In SolarWorld’s largest single project ever, the howing again its ability to adapt to the ever- Lane, just part of its investment in transforming and firm has partnered with the Los Angeles Depart- changing Internet market, United Online has expanding the Classmates.com brand from one ment of Water & Power to use the company’s solar Staken a Web site that was essentially made based on the personal past of its users ages 35 years panels at a DWP facility in the high desert. obsolete by Facebook and transformed it into some- old and up to one based on a collective past. SolarWorld won the contract, which was Antelope Valley thing very different and hopefully marketable. United Online would pay out $8 million to $10 announced on March 3, in an intensive bidding auto dealer’s ride But the creation of Memory Lane hasn’t been million to collect the 100 million pieces of content – process, according to Ben Santarris, public affairs easy. photos, videos, music, digitized magazines from manager of SolarWorld Industries America. is smoother now. Both the trademark and domain name of Memo- 1940 to 1999 – found at Memory Lane, the new “As we aggressively ramp up our domestic man- PAGE 6 ry Lane was taken and United Online chief executive name for the Classmates.com business unit. ufacturing production toward our capacity of 500 Mark Goldston and others thought it would be The past may be prologue, as Shakespeare once megawatt of annual production, we are pleased to impossible to get. wrote, and it is also big business. build out the various segments of our business,” Other names were suggested. “Take a Trip” was Santarris said. Please see MEMORY page 29 one of the rejected names. So was “This is Your Life.” Please see SOLAR page 35 Retail Mix Develops for Mall of the regulatory process with the release of its SHOPPING: Westfield readies environmental impact report. The 1 million- portfolio for Village project. square-foot development is set to include nearly 100 specialty restaurants and stores, including a By JESSICA VERNABE Staff Reporter Costco as its retail anchor; a 275-room boutique hotel; and a multi-story “first class” office com- With Westfield’s Warner Center mall expan- plex. The project will be located between West- sion project making its way through the city’s field’s Topanga and Promenade malls, which are review and approval process, the mall operator is occupied about 92 percent and 90 percent, respec- focusing on developing the right portfolio of busi- tively, according to mall officials. nesses for the site. While the retail company has been having dis- The mixed-use project, called The Village at cussions with potential tenants over the past cou- Westfield Topanga, has just reached a new stage WESTFIELD OF RENDERING COURTESY Please see WESTFIELD page 8 Rendering: The Village at Warner Center.
Nomination Deadline: Wednesday, May 11 4TH ANNUAL Wednesday, March 30 11:30 AM - 1:30 PM For more information, contact us at 818.676.1750, or visit Warner Center Marriott CFO AWARDS us online at www.sfvbj.com, and click the “events” tab. Woodland Hills Thumbnails | SFVBJ User Guide | Front Page | Table of Contents 2 March 14, 2011 SAN FERNANDO VALLEY BUSINESS JOURNAL
MARCH 14 - 27, 2011 VOLUME 16, NUMBER 6
Page 9: 20 in Their 20s special report features young local business leaders. ON THE COVER COMMENTARY TECH: United Online taps into the appeal of HUFFMAN COLUMN: ...... 39 nostalgia with new website, Memory Lane. EDITOR’S COLUMN: ...... 39 MANUFACTURING: Vitesse Semicon- ductor returned to the NASDAQ after a five- LEADERSHIP: 20 in Their 20s year absence. ENERGY: SolarWorld of Camarillo has PROFILES: Profiles of 16 of the 20 .10 signed a deal to develop a solar system for ENTREPRENEUR: David Wurth, L.A. Dept. of Water and Power. The owner and editor-in-chief of C-Suite advanced system involves bulk distribution Quarterly magazine...... 12 of energy. EXECUTIVE: Justin Kendrick, associ- RETAIL: Westfield starts lining up its retail mix at the proposed Village development that ate administrator of Palmdale Regional will link Topanga Plaza and the Promenade Medical Center...... 10 sba preferred lender | member fdic | equal housing lender in the next several years. The company in the LEADERS: The owners of Infinite Com- past few weeks has been giving more details munications, Parham Nabatian and Kay- about the project and sending out glossy van Mott, have managed to become a brochures to the neighborhood. fixture in the Valley business community by attaching themselves with THE LATEST NEWS older mentors who are powerful in the ENTERTAINMENT: Avenue Six Studios community...... 14 adds to filming opportunities with a New York streetscape to its facility in Van Nuys..3 TECH: Digital audio company DTS reports COLUMNS & FEATURES strong earnings as Blu-Ray DVDs, which contain the DTS audio format, become GIVING: ...... 16 mainstream...... 4 CROWLEY COLUMN: ...... 17 LAW: Law firm Michelman & Robinson MADLER COLUMN: ...... 18 forms advertising, marketing and media REAL ESTATE: ...... 31 department...... 5 VALLEY BIZ SEEN: Greater Valley THE LIST Business Events...... 32 LARGEST COLLEGES & INVESTMENTS: Valley Stockwatch.....33 UNIVERSITIES: ...... 21 AROUND THE VALLEYS: News and notes from around the greater San Fernando PEOPLE Valley area ...... 34 AUTOS: Interview with Lou Gonzales, CALENDAR: ...... 36 owner of Antelope Valley Chevrolet in Lan- caster. He’s a long-time area businessman who didn’t give up on the industry or the area In The Next Issue after his Saturn business folded in the demise THE LIST: 6 of the brand...... Largest Manufacturing Companies SPECIAL REPORT: ADVERTISING SUPPLEMENT Manufacturing: Valley’s Top Companies EDUCATION ...... 23 SUPPLEMENT: Real Estate
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Information in the San Fernando Valley Business Journal is gathered from sources con- sidered 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 pur- chase of sale of any securities. Opinions expressed in letters to the editor and commentaries are those of the authors and not necessarily those of San Fernando Valley Business Journal. POSTMASTER: Send address changes to San Fernando Valley Business Journal, Circulation Department, 21600 Oxnard St., Suite 250, Woodland Hills, CA 91367-6554. Thumbnails | SFVBJ User Guide | Front Page | Table of Contents SAN FERNANDO VALLEY BUSINESS JOURNAL UP FRONT March 14, 2011 3 Expansion at Van Nuys Studio Meets Filming Needs IMPROVE: Avenue Six adds 12 sound stages, studio support buildings, secured parking and class A office buildings. New York-style streetscape for a The main sound stage would have the capabili- ty to film water scenes. backdrop. This activity takes place as the issue of pro- By MARK R. MADLER Staff Reporter ductions leaving the state is still very much a worry for Hollywood. Avenue Six, however, With the entertainment industry’s demand finds its stages and filming areas in constant for more sound stages and production facilities use with reality series, cooking shows, talk continuing to grow locally, one Van Nuys shows, even a feature film. Last year, there facility has recently put itself ahead of the were more than 200 filming days. pack among the independent studios trying to The raised-floor, glass-walled conference fill this need. room on the south stage has been seen in com- The Avenue Six Studios facility in Van mercials for DirectTV and Bud Light.An Nuys has built a permanent New York City AT&T commercial filmed there was shown backdrop out in its parking lot. The row of during the Super Bowl. brick buildings mimics a neighborhood in the Oscar Bassinson, a vice president and cre- Big Apple. The backdrop is not just facades ative director at Inter/Media Advertising in but has working soundstages behind it and is Avenue Six Studios Encino, has come to Avenue Six to film com- decorated out front with foliage, exterior light- PHOTO SUPPLIED BY AVENUE SIX mercials for Neutrogena SkiniD and Car ing and parking meters. LOCATION: Van Nuys Backlot: The New York-style set was Cash Loans. Avenue Six is busy these days, so busy that PRESIDENT: Paul Reitzin built in the parking lot at Avenue 6 there is no space off limits to the production Studios and has working lights, foliage, Easy shoot companies filming there. STUDIO MANAGER: Samantha Cruz and space to film inside the homes. Shooting there is not a complicated affair. That includes the office of Paul Reitzin, FOUNDED: 2009 All Bassinson needs is a director of photogra- the founder and president. “I don’t think a lot of stages always do phy and a gaffer. There is no prohibition “Just as long as they don’t mess up my NUMBER OF SOUNDSTAGES: 3 that,” Wolf said. “They get satisfied with what against reconfiguring the existing sets to get stuff,” Reitzin said, seated at his desk behind a they have.” the look needed. collection of Lakers and other sports memora- “They have so many different looks we bilia. Demand for space avoid shooting on location,” Bassinson said. In a region filled with soundstages and dating as possible. No matter how many soundstages are Wolf started coming to Avenue Six last filming spaces, the operators of independent What had been parking was converted into spread around Los Angeles and neighboring summer and has done numerous projects there studios do all they can to stay in front of the a craft services areas, with tables and chairs cities, it never seems to be enough. since then. He plans to shoot a pilot at the production companies they can bring in as for crews and casts to have a bite to eat. A few A shortage of studio space is behind The facility this month. clients. Filming at the major Hollywood stu- months back, soundproof doors were put on of Walt Disney Co.’s proposal of a 56-acre The intimate surroundings are comfortable dios carries a certain cache but is pricey. The the stages to cut down the noise from the near- soundstage and production facility at its Gold- to work in and the facility is often the first one independents like Avenue Six offer an alterna- by 405 Freeway. en Oak Ranch property in the Santa Clarita he will call. tive at a more reasonable cost. That Reitzin is always making improve- Valley. “Other places offer the same (set ups) but The versatility of Avenue Six’s three ments hasn’t been lost by Dal Wolf, a free- A long-planned studio complex in Moor- there is a familiar energy they bring,” said soundstages is one benefit of filming there. lance director who has done multiple projects park is expected to break ground this year. The Wolf, whose work has appeared on the Funny Another is making all the space as accommo- at Avenue Six. project by Triliad Development Co. will have or Die comedy video website.
The Law Firm
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!(+,*),&!-* +#&))* ( $()&$")*($ & ) *+&,,+ ....&!.$++# %'(. )' Thumbnails | SFVBJ User Guide | Front Page | Table of Contents 4 March 14, 2011 UP FRONT SAN FERNANDO VALLEY BUSINESS JOURNAL Earnings Increase for DTS With Adoption of Blu-ray generated by the Unmanned Aircraft Systems million, or $0.45 per diluted share. In 2009, AUDIO: Technology developer division that makes drones used by the mili- the bank had net income of $745,000, or $0.15 DineEquity’s Q4 Shows Loss tary for reconnaissance and security purposes. per diluted share. targets networked-entertainment The aircraft are developed and manufactured Elements that contributed to the loss DineEquity Inc. had a wider net loss for as growth area in 2011. at facilities in Simi Valley. included merger related expenses, a Federal the fourth quarter and year of 2010 while In February, AeroVironment made public Home Loan Banks prepayment penalty, sales at its Applebee’s Neighborhood Grill Audio technology developer DTS Inc. an unmanned vehicle disguised to look like a increased salary and benefit costs and & Bar and IHOP restaurants increased. increased its net income by 27 percent in the hummingbird that it designed for the Nano Air increased occupancy costs. For the quarter that ended Dec. 31, the fourth quarter when compared to a year ago. Vehicle program of the Defense Advanced As of Dec. 31, 2010, California United Glendale-based company had a net loss of The Calabasas-based company reported net Research Projects Agency. Bank had $756.3 million in assets, compared $58.1 million, or $3.33 per diluted share, on income of $6.1 million, or $0.34 per diluted AeroVironment reported net income of to $456.7 million at the end of 2009 and revenues of $299.8 million. For the same share, on revenues of $26.9 million for the $11.5 million or $0.52 per diluted share, on $589.8 million at the end of the most recent quarter the previous year, the company had quarter ending Dec. 31. For the same period in revenues of $84.4 million for the quarter end- third quarter. The assets listed for Dec. 31, net loss of $48.2 million, or $2.84 per diluted 2009, DTS reported net income of $4.9 mil- ing January 29. For the same period a year 2010 represented an increase of 65.6 percent share, on revenues of $355.2 million. lion, or $0.27 per diluted share, on revenues of ago, the company had net income of $6.5 mil- year-over-year and an increase of 28.2 percent For the full year of 2010, the company had $21.2 million. lion, or $0.30 per diluted share, on revenues of from the third quarter. net loss of $30 million, or $1.74 per diluted For the 2010 fiscal year, the DTS had net $60.9 million. The bank had total deposits of $658 mil- share, on revenues of $1.3 billion. For the year income of $16 million, or $0.90 per diluted For the fourth quarter, the unmanned air- lion, up 90 percent from deposits of $346.3 of 2009, the company had net income of $9.2 share, on revenues of $87 million. For the craft division brought in $71.7 million in rev- million at then end of the previous year, and up million, or $0.55 per diluted share, on rev- 2009 fiscal year, the company reported net enue and the energy efficient systems, which 36 percent from deposits of $484.2 million at enues of $1.4 billion. income of $10.6 million, or $0.60 per diluted makes electric vehicle charging stations, the end of the previous quarter. Both restaurants experienced a higher share, on revenues of $77.7 million. brought in $12.7 million in revenues. The bank’s loans as of Dec. 31, 2010 were average guest check combined with declines The adoption of the Blu-ray format by con- Revenue and overall demand for small $421.3 million, an increase of 60 percent in guest traffic for the fourth quarter. Menu sumers increased during 2010 and that led to UAS, PosiCharge and EV test systems remain from $263.4 million at the end of the previ- pricing also increased by 2.1 percent at com- DTS HD Master Audio becoming the domi- strong,” said company Chairman and CEO ous year and an increase of 36 percent from pany-operated Applebee’s restaurants in the nant audio format, said company Chairman Tim Conver. “We also continued to execute loans of $309.1 million at the end of the pre- fourth quarter. and CEO Jon Kirchner. well on key development program milestones vious quarter. The net losses for the 2010 fourth quarter “With the growth in Blu-ray and rapidly that are important to our customers. I believe “Our 2010 results reflect strong core and the year were primarily due to the extin- expanding opportunity in connected devices, we remain well-positioned for long-term growth, including a 90 percent increase in guishment of debt and the redemption of we are excited about our prospects for 2011 growth.” deposits year over year, which was fueled by Series A perpetual preferred stock and related and beyond,” Kirchner said. “We will continue the 2010 tactical investments in additional staff premiums in connection with the company’s to make focused investments to extend our and infrastructure, as well as the year-end refinancing. These charges were partially off- penetration in networked-entertainment, which acquisition of California Oaks State Bank,” set by gains on the disposition of assets relat- is expected to drive higher growth over the CUB Posts Loss said David Rainer, president and CEO of Cal- ed to the sale of company-operated Apple- long-term.” California United Bank had net losses for ifornia United Bank. “In one year, we have bee’s restaurants in Minnesota and parts of 2010’s fourth quarter and full year but had taken advantage of unique opportunities to Virginia. year-over-year growth in assets, deposits and achieve a 66 percent growth in total assets and For the fourth quarter, domestic system- loans. an expanded geographic footprint, which is wide same-restaurant sales increased by 2.9 AeroVironment Does Well in Q4 For the fourth quarter of 2010, California supported by strong capital and solid credit percent for Applebee’s over the same period Net income grew by nearly 76 percent in United Bank had a net loss of $2.3 million, or quality.” in 2009 and by 1.1 percent for IHOP. For the the fourth quarter for manufacturer AeroVi- $0.44 per diluted share. For the same period in Accomplishments in 2010 include the year of 2010, domestic system-wide same- ronment Inc. when compared to the same 2009, the bank had net income of $43,000, or increase from three to six full service branches restaurant sales increased by 0.3 percent for period a year ago. $0.01 per diluted share. and the addition of two new loan production Applebee’s and remained flat for IHOP. Much of the revenue for the company is For 2010, the bank had a net loss of $2.3 offices.
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