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labusinessjournal.com LOS ANGELES BUSINESS JOURNAL Volume 33, Number 15 THE COMMUNITY OF BUSINESSTM April 11 - 17, 2011 • $3.00 Up Auto Sales Site Front 3-D Projections May Rev Up Infomercials MARKETING: TrueCar links with TV ad titan.

By JACQUELYN RYAN Staff Reporter

‘The pig guy in Can online car sales benefit from the L.A.’ really infomercial treatment? wants this That’s what prominent infomercial pro- cook-off prize. ducer Guthy-Renker LLC and L.A. entre- PAGE 3 preneur Scott Painter are betting on. The duo teamed up last week when the TV commercial company made an unusual equity investment in Painter’s TrueCar News & Inc. website, which offers shoppers recent Analysis sales data from nearby dealerships. Guthy-Renker’s Screening Room: transaction is part of a RealD’s Michael larger group of invest- Lewis at the ments in TrueCar that the company’s headquarters in website company expects Beverly Hills. will reach $100 million by the end of the year. RINGO H.W. CHIU/LABJ Guthy-Renker has grossed billions of dollars hiring high-price Renker How Dr. Brandon RealD sets sights MasterImage looks celebrities to promote Colby’s blisters products such as exercise equipment and led him to invent on big summer flicks to glasses-free future self-help DVDs. Its biggest hit has been a genetic testing pimple cream Proactiv, which has been product. PAGE 5 By GREG HERNANDEZ Staff Reporter By NATALIE JARVEY Staff Reporter pitched by Jessica Simpson and other celebrities who are paid big sums. HESE are heady days for RealD Inc., which EALD Inc. is facing challenges from some With TrueCar, the Santa Monica-based People recently announced that more than 15,000 of big-name competitors that want to share the marketing giant is stepping out of its com- Tits 3-D cinema systems are installed in the- R3-D movie spotlight, but what is possibly its fort zone and getting heavily into the Inter- aters worldwide. most worrisome rival has an unusual pedigree. net business. The equity investment will The Beverly Hills company passed the milestone MasterImage 3D Inc. got its start in Seoul, South help fund TrueCar’s expansion, and pay for as the major movie studios are getting ready to Korea, equipping movie theaters with 3-D systems, but a print, radio and TV ad campaign that will launch a flock of projected summer blockbusters in its newest business is developing glasses-free 3-D tech- cost up to $75 million annually. 3-D, including the latest entries in the “Transform- nology for mobile devices and other small screens. “There’s a really good chance to become ers,” “Pirates of the Caribbean” and ‘Harry Potter” Though the company moved its headquarters to the market leader,” said Guthy-Renker franchises. That should be great news for RealD, Hollywood last year, it still has employees in its Chief Executive Ben Van De Bunt. which receives a royalty fee of 50 cents a ticket. homeland and strong ties there that have paid off Santa Monica-based TrueCar is the first But RealD, which has 85 percent of the domestic big. The company recently received a $15 million site of its kind that allows would-be car buy- 3-D movie projection market, has a few reasons not investment from South Korean electronics behemoth ers to browse real sales prices without having to provide personal contact information Who counseled Please see ENTERTAINMENT page 42 Please see TECHNOLOGY page 42 attorney Robert Please see MARKETING page 43 Shapiro to speak low and slow? PAGE 15 Chief Exec Denies American Apparel Is Ready to Fold MAIL TO: CLOTHING: Dov Charney boasts last legs and searching for as little as $5 million to stave off bankruptcy. he’ll be ‘one of the billionaires.’ “American Apparel Really Might Go Bankrupt This Time” was the breathless headline on the Huffington By ALEXA HYLAND Staff Reporter Post. Even ABC morning anchor George Stephanopou- los called asking if he had time for an interview. When Dov Charney’s mother called to check on him In the midst of it all, Charney sat down with the recently, she told the American Apparel Inc. chief Business Journal to defend his company, his handling something he needed to hear: that he’s a survivor. of recent events and his turnaround plans. The flamboyant founder of the hip apparel chain has “I feel I’ve reached a level of personal maturity,” he weathered all sorts of challenges over the past few years, said, “whereby in order to take this to the next level, I including a government audit that ultimately caused need to surround myself with people who are better American Apparel to lose 2,500 immigrant workers. than me in the fields that they operate.”

But perhaps nothing quite like last week, when RINGO H.W. CHIU/LABJ media reports suggested that the company was on its Please see CLOTHING page 41 Defender: American Apparel’s Dov Charney.

Real World Insight for Middle Market Companies

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2 LOS ANGELES BUSINESS JOURNAL APRIL 11, 2011

LOS ANGELES BUSINESS JOURNAL ®

Ourformulaforvalueissimple. APRIL 11 - 17, 2011 VOLUME 33, NUMBER 15

RINGO H.W. CHIU/LABJ Page 10: International Aero’s Jonathan Saltman at the company’s Bellflower office.

Clients tell us that our superior ON THE COVER PEOPLE Grant Thornton service makes their relationship 0-10 Big Other firms Statistically scale LLP Four mentioned significant with Grant Thornton a real value TECHNOLOGY – RealD is hoping for a INTERVIEW – Attorney Robert Shapiro has lower lower yes for them. There’s no greater Audit 8.84 brighter future with a string of blockbusters shifted from criminal to civil cases but still compliment than a strong lower lower yes Tax 8.72 heading for its 3-D-outfitted screens. hears questions about you know who. . . .15 recommendation, and a recent Value for fees ENTERTAINMENT – MasterImage is client satisfaction survey, 8.38/8.29 lower lower yes (audit/tax) looking to reframe the 3-D sector with its conducted by an independent glasses-free technology. THE LIST research firm funded by CLOTHING – American Apparel’s Grant Thornton LLP, tells the tale. RANKING – The 19 biggest venture capital controversial chief defends his embattled To find out more, access the results at company’s prospects and his lifestyle choices. firms based in Los Angeles County, ranked GrantThornton.com/clientsatisfaction MARKETING – Infomercial giant Guthy- by capital under management...... 19 or contact Joel Anik, Managing Partner Renker will be looking to drive more traffic to The 25 biggest private equity firms in Los at 213.596.3484 or [email protected]. Audit • Tax • Advisory new partner TrueCar.com. Angeles County, ranked by private equity assets under management...... 21 Grant Thornton refers to Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd, an organization of independently owned and managed accounting and consulting firms. UP FRONT

RETAIL – Some Grove vendors are seeing INVESTMENTS & FINANCE crowds but not sales from the taping of celeb Columns & features – Econowatch 29, news show “Extra.” ...... 3 LABJ Stock Index 30 GOVERNMENT – The MTA has put out a call for the creation of mass-transit apps for the agency’s customers...... 3 REAL ESTATE DINING – A pig-cooking contest has given local chefs something to squeal about. . . . .3 HOUSING – Pace of home sales in L.A. Columns & features – Page 3, Regional County slowed by 12 percent in March. . .32 Report 4 CHART – A list of March home and condo sales by neighborhood...... 32 NEWS & ANALYSIS Columns & features – Real Estate Column 36 HEALTH CARE – Dr. Brandon Colby, who suffers from a rare disease, developed a DNA test to help people and their doctors evaluate L.A. BIZ SEEN health risks...... 5 CELEBRATIONS – Photos from L.A. TICKETING – An investor and Tix Corp. management are in a battle for the company’s business community events...... 44 future...... 5 INVESTMENT – Digital media opportunities COMMENTARY are drawing in L.A.’s venture capital firms. 6 PR – Rogers Group’s founder had to rethink COMMENT – State environmental act CEQA his succession plan after the death last year of spells nothing but trouble for developers, protégé Lynne Doll...... 7 writes Charles Crumpley...... 46 ADVERTISING – Venice agency Liquid has INSURANCE – Tim DeRoche takes a look at made a big splash with its approach to some possible impacts of federal health care promoting video games...... 8 reform on California...... 47 RETAIL – International Aero hopes a GOVERNMENT – Tim Cavanaugh calls foul new product line for automobiles stays grounded...... 10 over public spending on transportation to and Columns & features – Media Watch 12, from Dodger Stadium...... 47 Advertising & PR 12, Technology 12, Columns & features – LABJ Forum 46, News of the Week 13 Letters 47

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 editor and commentaries are those of the authors and not necessarily those of Los Angeles Business Journal. Member Audit Bureau of Circulations. LABJ has been adjudicated Nov. 1985 to be a newspaper of general circulation. POSTMASTER: Send address changes to Los Angeles Business Journal, PO Box 16825, North Hollywood, CA 91615. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

APRIL 11, 2011 UP FRONT LOS ANGELES BUSINESS JOURNAL 3

bles, subway stops and other Calling In basic information. It will Outside soon be out in an Android version, and the agency Assistance plans to release an app and website, Next Trip, in April MTA enlists public in that will show bus arrivals in competition to create real time. local mass-transit apps. Participants in the Devel- oper Challenge are being Want to know how to use asked to be more creative. public transportation for a Lam said that one idea could night out on the town? Or be an app that assists bicy- maybe how to get to all the clists get on buses by show- great beaches? ing where bike lanes inter- Well, go make an app for it. sect bus stops. Other devel- The Los Angeles County opers could be focused on Metropolitan Transportation attractions, such as beaches Authority – recognizing or night life. itself for the bureaucracy it is Entries are due May 20 – has organized a competi- Transit: MTA app. and the winners will be tion for developers of mobile announced June 13, with phone applications. The goal the private sector,” said prizes ranging from $1,500 Grove Report: Mario Lopez and actress Elizabeth Berkley taping ‘Extra’ at the mall. is to encourage the use of Lan-Chi Lam, a web design to $2,000. Winning apps mass transit. and strategy manager for will be posted on the MTA’s was greeted by 4,000 fans. “When it’s a big celebrity “Being a public agency, the MTA. website, Metro.net, but Hoping for It appears the business coming in, it kills business,” said we felt that it’s really hard Last year, the agency developers will retain the Something arrangement – which allows one employee, who, like others, for us to deliver as fast in launched its first internally right to sell them at app the taping to go on for free in asked not to be identified. mobile app development developed iPhone app, Go stores. ‘Extra’ exchange for the obvious pub- One worker said that on and stay on top compared to Metro, featuring bus timeta- – Natalie Jarvey licity for the mall in L.A.’s some taping days an Not all Grove vendors Fairfax district – has turned “Extra” banner almost com- are pleased with daily out better than could have pletely obscures his booth, Going of the pig guy in L.A.” TV taping of show. been expected. That’s certain- but he hasn’t complained The cook-off challenges ly the take of mall owner because he doesn’t want to Whole Hog five local chefs to prepare a The Grove has always Caruso Affiliated. make any waves. 175-pound heritage-breed pig been a place where famous “It’s taken our exposure to Gordon said she wasn’t Culver City chef feels that will be delivered slaugh- people can be spotted. You a national level,” said Caruso aware of any complaints from the heat in competition tered but completely intact, might see Owen Wilson spokeswoman Jennifer Gor- the kiosk businesses. She including blood and organs. A browsing at Barnes & Noble don. “It’s been a very positive believes the taping benefits all to cook intact pig. panel of judges will select the or Channing Tatum shopping relationship for both of us and tenants, though she declined to Ben Ford is going to best prepared oinker based on at the Apple Store. one that I hope will continue.” release any mall sales figures. slaughter the competition. presentation, creative use of But the celebrity wattage But the arrangement “When they film in front To do that, he’ll need to cuts and flavor. has become even more blind- hasn’t necessarily been a win- of the carts or kiosks or the butcher a pig. Founder Brady Lowe said ing since the entertainment win for everyone. There have restaurants, they get the expo- Ford, owner of Ford’s Cochon 555 gives restaurant show “Extra” began filming been grumblings coming sure because they are in the Filling Station restaurant in owners a chance to form a there last fall as it seeks to from some of the Grove’s 18 background,” she said. Culver City, has his eye on community around the boost ratings that lag behind kiosks, which sell stuffed ani- Indeed, some other busi- the prize in the Cochon 555 preparation of heritage pigs, long-running evening stalwart mals, hats, T-shirts, costume nesses do welcome the tapings, pig-cooking competition May which date back of hundreds Roasted: Cochon pig. “Entertainment Tonight.” jewelry and the like. which are done from 9 a.m. to 1 at downtown L.A.’s Vib- of years and are said to be Host Mario Lopez has Employees at half of the 3 p.m. at various locations. iana event hall. much tastier than today’s Octavio Becerra of Glen- chatted up reality TV star booths said the filming hasn’t Michael Morgan, manager “It’s important to win, low-fat commercial breeds. dale’s Palate Food & Wine, Nicole “Snooki” Polizzi, rap- built business for them. One of Whisper Lounge, said peo- because of my reputation,” He called Cochon 555 – and the L.A. trio of Mozza per Snoop Dogg and countless complaint was that the crowd ple from the “Extra” audience said Ford, son of actor Harri- which has been held in other Restaurant Group’s Chad other celebs as crowds gather was far more interested in drop by for a drink or a meal son Ford, referring to his cities and references the Colby, Jar’s Suzanne Tracht to see who is going to show celebrities than shopping, and sometimes, while crew mem- menu that features bacon- French word for pig – a and the Bazaar’s Joshua up. The biggest draw so far sometimes even elbow out bers have become regulars. wrapped dates and other “pasture-to-plate project.” Whigham. has been Jennifer Lopez, who potential customers. – Greg Hernandez porcine offerings. “I’m kind The other local chefs are – Sam Bennett

Reality Star in the House For 10 years, Josh Altman has just been a One day last fall, Times editor Russ Stanton. Realtor. But suddenly he’s a star. And that’s been PAGE 3 L.A. Galaxy star David Stanton picked the ring tone not just a bit of surprise to the 32-year-old. Beckham strolled into because it’s Dodgers history, but because of its Altman recently joined the three-member CHARLES CRUMPLEY a bike shop in Venice personal resonance: cast on Bravo reality Beach and got inter- He was at the stadium show “Million Dollar ested in a Retrospec. the night Gibson Listing.” The program and a girl will recognize me but be too shy to The next thing limped out of the follows young and come up and talk to me. My brother will say, Alexander knew, he dugout in the bottom aggressive real estate ‘He’s just a Realtor.’” was showing the of the ninth to win the brokers as they com- bikes to Beckham at first game of the World pete to sell homes in Wheel Endorsement his Beverly Hills Series with his famous such high-end neigh- Since Amir Daroubakhsh is a partner and Daroubakhsh home. He purchased hit, setting the borhoods as Beverly vice president with Archway Holdings in Beverly enough for the whole Dodgers on the road to Hills and Malibu. Hills, he knows what it takes to make real estate family. Photos of the Beckhams with their a series victory over The television attractive. But lately he has gotten a lesson in bicycles soon went viral, and orders for Ret- Stanton the Oakland A’s. Altman exposure has been what it takes to make a bicycle hot. rospecs started coasting in. “I said I’d never go good for Altman, who The tale begins about three years ago when The Beckhams, being trendy, made the bicy- to another game, because it couldn’t get any bet- lives in the Hollywood Hills and is an agent with his nephew called him with an idea for a busi- cles so. ter than that,” Stanton remembers. Hilton & Hyland. He recently sold Kim Kar- ness. Daroubakhsh, 34, took a chance and gave Said Daroubakhsh: “Once he started riding “And now, some 400 games later, I was dashian her home. And he was filmed closing him $20,000. our bikes, business really blew up.” right.” the deal on a $16.5 million home in Beverly The nephew, Ely Alexander, 22, launched Park, which was the sixth highest sale in Los Retrospec Bicycles. The company wholesales Hit Ringtone Staff members Jacquelyn Ryan, Sam Bennett Angeles in 2010. what are commonly called “fixies,” stripped- If you hear a cell phone go off with the and Steve Silkin contributed to this column. Page “It’s weird to be recognized when I’m walking down, fixed-gear bicycles that have no brakes. recording of Kirk Gibson’s famous 1988 home 3 is compiled by Editor Charles Crumpley. He can around,” said Altman. “I’ll be out with my brother The pedals move in synch with the rear wheel. run, you may be standing next to Los Angeles be reached at [email protected]. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

4 LOS ANGELES BUSINESS JOURNAL UP FRONT APRIL 11, 2011

News and notes from communities across REGIONAL REPORT Los Angeles County

CENTRAL AREA a Santa Monica real estate financing company, has announced the public offering of 14 million shares at $18.50 per share. The com- BALDWIN HILLS pany is offering 13.25 million shares; stock- holders are offering the remainder. Website Revamp: CraveOnline.com, a lifestyle site for the young male demographic operated by Baldwin Hills-based Evolve Media Corp., has added more content and fea- Regional Report tures and more ways for marketers and adver- tisers to target the site’s readership. To be considered for publication, Regional Report submissions should be e-mailed to: [email protected] LOS ANGELES Business news from companies in Los Ange- New Office: Thermo Credit LLC, a New les County or nearby areas is listed on the Orleans-based financial services company page. Please be sure that press releases focused on the communications industry, has specify the name of the city and the name of opened an office in Los Angeles. The new out- the company along with the description of post, at the Howard Hughes Center near Los the news. Submissions are evaluated on the Angeles International Airport, will be operated basis of company size and the significance of by business development officer Juliet Nguyen. the announcement. The Business Journal tries to include as many listings as possible, SAN FERNANDO VALLEY but some may not be published due to space limitations. Please address all inquiries to the e-mail AGOURA HILLS Baldwin Hills: The redesigned website of Baldwin Hills-based CraveOnline. address above. If you do not receive a response in a timely manner, Menu Addition: Hugo’s Restaurants, a call (323) 549-5225, ext. 229. West Hollywood-based chain, is opening a Cos. Anderson is the privately held parent of Roy the assets of Summit Audio Inc., a Gard- full-service location in Agoura Hills. The new Anderson Corp., Harrell Contracting Group LLC nerville, Nev., audio technology company. eatery is at 28914 Roadside Drive in the and Brice Building Co. LLC construction ser- Financial terms of the deal were not disclosed. Whizin’s Center retail complex. vices company. Tutor Perini acquired all of the parent company’s stock for $64.6 million in cash. WESTSIDE CORRECTION SYLMAR WESTLAKE VILLAGE The Real Estate column in the March 21 Construction Pickup: Tutor Perini SANTA MONICA issue misstated the name of law firm Corp., a Sylmar-based construction company, Speaking Up: Blue Microphones, a West- Jones Day. has acquired Gulfport, Miss.-based Anderson lake Village microphone maker, has acquired Public Offering: Colony Financial Inc.,

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Fisher & Phillips LLP attorneys at law ® Solutions at Work National First–Tier Rankings Employment Law – Management www.laborlawyers.com Labor Law – Management 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

APRIL 11, 2011 NEWS&ANALYSIS LOS ANGELES BUSINESS JOURNAL 5 Under The Skin HEALTH CARE: A rare tissue condition inspires doctor to develop genetic test.

By DEBORAH CROWE Staff Reporter On the high end is full-genome sequencing that costs thousands of dollars and is avail- S a kid, Brandon Colby couldn’t play able only at academic research hospitals. On tennis without his hand breaking out in the low end is a recent spate of Internet com- A blisters just from gripping the racket. panies offering cheaper over-the-counter Today, a two-block walk on a warm spring day tests that have begun attracting the scrutiny can give him blistered feet. of regulators. Colby learned when he was young that his The cost for Colby’s test should run mystifying condition was the result of a rare between $400 for a specialized panel for cer- genetic mutation that made his skin highly sen- tain conditions to about $900 for a more com- sitive to heat and friction. He became fascinat- prehensive panel that screens for more than ed by genetics, figuring that even if he couldn’t 700 diseases and traits. discover a cure for his condition, he might be He also offers the higher-end test as the able to help others. So he became a doctor and grand prize for a Facebook page contest. But an entrepreneur. he insists that testing should be done under a He now has something to show for his years doctor’s supervision and interpretation. of study, research and development. Colby’s Colby is promoting the test through his blog West L.A. company, Existence Genetics, is and wants to sell the test through doctors. The

rolling out a genetic test to predict the risk for program he offers doctors allows them to cus- RINGO H.W. CHIU/LABJ developing diseases such as cancer and condi- tomize test panels, protect privacy and co- In Hand: Brandon Colby with a test chip at Existence Genetics’ West L.A. office. tions such as cardiac arrhythmia. With early brand the reports given to patients. detection, doctors and patients can take mea- Customization means that family practi- sures to reduce risk. tioners could offer a comprehensive test that versity’s Graduate School of Business. College of Medicine’s Cancer Genetic Clinic “I always had to sit on the sidelines as a could pick up increased risks for cancer and He still suffers from epidermolysis bul- in Houston, said Existence Genetics will face child, but now I want to be at the forefront of heart attack, or sports medicine specialists losa, an inherited connective tissue disease plenty of competition from government agen- the genetic revolution,” said the 33-year-old could look for markers that could help explain that causes blisters to form when a person’s cies, academic institutions and for-profit Colby, whose company is one of a growing why an athlete excels at weight lifting but skin temperature rises above a certain level companies that are investing millions of dol- number of firms riding the wave of increased struggles to finish a marathon or other perfor- due to simple friction. Research for a cure is lars to make genetic testing an effective diag- interest in a genetic approach to health care. mance issues. continuing. nostic tool. “My genes were causing me a lot of pain and “Our expertise is in turning all those letters Sheldon Collins, a Brentwood medical Plon sees genetic testing as a valuable com- suffering, and I wanted be empowered to take and numbers related to a person’s genome into device sales rep who got tested after reading ponent of doctors’ work with patients. back control and enable other people to do something intelligible that they can take action Colby’s 2010 book “Outsmart Your Genes,” “The more you can integrate the informa- that, too.” on,” Colby said. “I want people to be able to said the results confirmed that he had inherited tion and provide an understandable report, the Among Colby’s innovations is a saliva test say, ‘OK, so I’m susceptible for developing the same proclivity for heart disease as several better,” she said. chip – slightly larger than a stick of gum – that colon cancer – here’s what I can do to lower of his family members. Dr. John LaLonde, part of a family practice can evaluate DNA at a lower cost than some my risk.’ ” “You don’t think of preventative health in group in Costa Mesa, expects to offer the test other methods. He is using it in his practice Colby created his own major in genetics your 20s and 30s, but I’m coming up on 40 and as an option for patients willing to pay the full and has begun making arrangements for other through the University of Michigan Honors preparing to get married and start a family. So, cost, since most such tests are not yet covered doctors also to use it. Program in 1996, and later earned a medical yeah, I’m thinking a lot more about what I can by insurance. The findings are run through a database to degree from the Mount Sinai School of Medi- do to live long and healthy,” said Collins, who “As a primary care doctor, I’m attracted by identify the genetic markers for higher risk for cine in New York. After time in research and became more conscientious about his diet and the potential for learning things about a patient melanoma, sudden death from a heart arrhyth- medical practice, he decided to launch his own exercise regime. that may not come up when I’m getting their mia, and other conditions and diseases. company. The business plan for Existence He also learned, to his relief, that he’s at medical history,” LaLonde said. “Maybe it will Existence Genetics’ test is in the midpoint Genetics took shape five years ago while less risk for melanoma and other cancers. help me twist people’s arms about making of two extremes on the DNA testing scene. Colby was earning his M.B.A. at Stanford Uni- Dr. Sharon Plon, director of the Baylor changes in their lives.” Investor Sees Opening to Take Over Ticket Seller TICKETING: company’s shares, had proposed in a March 30 other than to say, “We hope the board does the Baker letter to the board to buy all outstanding shares Tix Corp. (OTC: TIXC.PK) right thing.” Studio City FRI. CLOSE, PAST 5 WKS Street offers to acquire for $2.10 each, which represented a 57 percent 1.8 Tix, which specializes in discount tickets CEO: Mitchell Francis premium over the closing price that day. The Apr. 6: $1.75 1.7 for Las Vegas shows, has struggled through Studio City company. firm said it was seeking to buy the “substan- Employees: 204 1.6 the downturn. The company lost money each 1.5 tially undervalued” Studio City company to Market Cap: $42.5 million of the last four years, with the largest amount, By RICHARD CLOUGH Staff Reporter prevent a possible management-led buyout. 1.4 $35 million, coming in 2008. In December, the P/E*: N/A 1.3 “We are deeply troubled by indications we 1.2 company sold its underperforming live enter- What had been a behind-the-scenes battle have that it may be management’s intention to EPS: -$0.10 3/4 3/11 3/18 3/25 4/1 tainment division to management. for control of discount ticket seller Tix Corp. take the company private at a small premium to *Twelve months trailing. Source: Yahoo Finance After its stock price fell below $1 per share spilled out into the open last week after the the current depressed value, thereby purchasing last summer, the company could not meet the company’s largest shareholder revealed its the company for less than full value and short- whether negotiations had taken place. Nasdaq stock exchange’s listing requirements acquisition offer. changing its shareholders,” said Vadim Perelman, Francis did not respond to requests for and was forced to move to the Pink Sheets in News of the offer sent shares surging more Baker Street’s managing partner, in the letter. comment. October. than 43 percent to $1.92, a new 52-week high. Perelman also decried the “inherent conflict Baker Street disclosed its offer last week Baker Street is a deep-value investor that Shares closed April 6 at $1.75, a 31 percent of interest” of Mitchell Francis, who serves as after Tix adopted a shareholder rights plan, or holds stock in companies with very low valua- increase that represented the second largest chief executive and chairman, negotiating on poison pill, without disclosing the firm’s acqui- tion measures. It started buying Tix shares last one-week gain among the 200 stocks in the behalf of management to acquire the company. sition offer. The Tix board then formed a spe- year. The firm, founded by Perelman in Sep- LABJ Index. Steve Handy, chief financial officer for Tix, cial committee of independent directors, which tember 2009, also holds a stake in ticketing Brentwood investment firm Baker Street said management “is not considering a buyout is reviewing Baker Street’s offer. company Hollywood Media Corp. in Boca Capital LP, which owns 22 percent of the at this time,” but declined to comment on Perelman declined to discuss the situation Raton, Fla. 6,109 3,503 2,027 1,959 1,647

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6 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS APRIL 11, 2011 Digital Media Has L.A. Firms Venturing Out Again INVESTMENT: Tech sector Partners, which took the top spot on the Busi- ness Journal’s annual list of the largest local On the Rise venture capital firms. possibilities spark surge After taking a pounding during the recession, venture capital investment rose last year in L.A. While Silicon Valley remains the epicenter in flow of capital. for tech startups, parts of Southern California 200 1,500

are proving to be fertile ground for digital media Value ($ millions) 160 1,200 By RICHARD CLOUGH Staff Reporter ventures, from online video companies to e- commerce firms to in-flight Internet providers. 120 900 L.A.’s beleaguered venture capital industry “Digital media is developing a little ecosys- 80 600 is finally showing signs of life as it capitalizes tem around Santa Monica,” said Randy

Number of Deals 40 300 on what analysts consider one of Churchill, director of emerging the hottest sectors around. THE LIST company services for Pricewa- 0 0 Digital media, the buzzword on terhouseCoopers LLC in Los 2006 2007 2008 2009 2010 many investors’ lips, is generating Venture capital firms Angeles. “There’s certainly a lot Sources: PricewaterhouseCoopers LLC, Number of Deals Value widespread interest among venture PAGE 19-20 of money going into it.” National Venture Capital Association capital firms, which had tightened Venture firms invested $380 their purse strings after the financial million in 64 local digital media Among the recent investments, BeachMint in Santa Monica; Pasadena’s UberMedia Inc., crisis but are again looking to fund entrepreneurs. companies in the past year, according to data Inc., a “social commerce” company in Santa a web-based application developer, raised $21 New opportunities in the space are fueling from Pricewaterhouse’s quarterly MoneyTree Monica, received $15 million in funding from million from venture backers; and Santa Moni- many of L.A.’s largest firms, including GRP report. That’s up from 55 deals the previous year. firms such as Anthem Venture Partners, also ca’s Campus Explorer Inc., a college com- parison website, got more than $3 million. Indeed, as the economy has stabilized and the market for initial public offerings has begun a return to normalcy, many firms that had held tight during the recession have put their capital to work. According to the MoneyTree figures, venture capital firms invested a total of nearly $1 billion last year in a wide range of young L.A. companies, a 43 percent increase from 2009 but still off by about one-third from pre-recession highs. Pricewater- house expects to report first quarter data this week. Do you have to reach out to your banker? To be sure, the local venture capital market has not yet made a full recovery. The Business Or is it the other way around? Journal’s list of venture capital firms saw few had raised capital since the previous year, which was one of the slowest in recent memory. Venture capital’s traditional backers – primarily large institutional investors – have been hesitant to give money to what are seen as riskier investments. “We haven’t heard of very much fundrais- ing, (but) there is increased deal flow,” said Nevena Orbach, past president of the Los Angeles Venture Association and current president of financial PR firm Orbach Co. “We do see improvement on the horizon.”

IPO fever One factor that has energized the local venture capital market is the loosening of the IPO markets. Nationwide, there were more than 70 venture-backed initial public offerings last year, up from just a dozen in 2009, according to data from Thomson Reuters. The momentum has carried over into this year, as Demand Media Inc., an online content publisher in Santa Monica, registered a strong $151 million IPO in January. Among Demand’s venture capital backers is Anthem, which has a sizable stake in the local digital media market. “Looking at the IPO market locally, I think it’s the best we’ve seen in a long time,” Churchill said. The IPO success has brought liquidity back to the venture capital market and freed some firms to invest cashed-out capital in new You want a financial specialist who understands your world. A proven banking expert with a solid track record of opportunities, which for many have been in helping businesses realize their financial goals. When you team with Union Bank,® you’ll experience a more personal digital media. banking relationship centered around your needs. Our relationship managers will put their knowledge and expertise Century City’s GRP made a number of digital to work to help streamline your treasury management operations and maximize profitability. So now a stronger media investments in the past year. The firm par- bankingrelationshipiswellwithinyourreach. ticipated in a $5 million funding round for Twit- ter ad network Ad.ly, a $1.8 million funding With Union Bank, the world can be an easy place to do business. Call us today. round for mobile ad company Burstly and $1 million for site developer Snowball Factory Inc. “L.A. has shined in this whole digital media Commercial Banking: Commercial Treasury Services: Business Banking: area, which is very hot right now; it’s given (Los Scott Connella Diane Williams, CTP William Schleifer Angeles) a bigger footprint in the VC communi- Executive Vice President Senior Vice President Vice President ty,” said Dennis McCarthy, president of West L.A. 213-236-4275 213-236-5085 213-236-6861 financial services firm Aries Management Inc. Digital media has thrived in Los Angeles in part because of an abundance of talent, and because the companies in that space require relatively little funding – a key point since Los Angeles has a relatively small pool of venture capital money compared with Silicon Valley. ©2011 Union Bank, N.A. “Many of these digital media companies don’t Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG), require a lot of money because you could do a lot one of the world’s largest financial organizations. unionbank.com more with virtual resources,” McCarthy said. “In this digital media area, you can create often a really great company with $250,000 of resources.” 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

APRIL 11, 2011 NEWS & ANALYSIS LOS ANGELES BUSINESS JOURNAL 7 Century City Firm Opts for Sale After Exec’s Death “Even if we do national work for clients, the PR: Rogers Group bought perception is we’re an L.A. firm, and so this by Ruder Finn in wake of opens up lots more opportunities.” Rogers Group clients include Dole Food Lynne Doll’s passing. Co., Raytheon Co., Whole Foods Market Inc., and the Los Angeles County Department By ALFRED LEE Staff Reporter of Public Health’s tobacco and obesity education campaigns. Those clients join a Ruder When Lynne Doll, president of Century City Finn/West client roster that includes Hyundai PR firm Rogers Group, died last year, founder Motor Co., Logitech International S.A., and chief executive Ron Rogers lost a close Marvell Technology Group Ltd., StubHub friend – and his company’s succession plan. Inc. and Treasury Wine Estates. The 67-year-old Rogers, a prominent figure Jack O’Dwyer, publisher and editor of in L.A. public relations, had long rejected buyout O’Dwyer’s, said the move would be good for offers because he planned to turn his firm over to both parties. Doll, a partner and protégé nearly two decades “It’ll give added strength to Ruder Finn’s his junior. But Doll’s death at 48 led to talks with L.A. office, because they’ve mostly been iden- potential buyers, and eventually to last week’s tified with New York,” he said, “and it puts announcement that Rogers Group was acquired Ron Rogers in with the fourth biggest indepen- RINGO H.W. CHIU/LABJ by New York-based Ruder Finn Inc. dent firm in the U.S.” PR Leader: Ron Rogers, Rogers Group CEO, at the firm’s office in Century City. “With my partner passing away, everything in the company changed,” he said. “I wanted to make sure that if something ever happened to me that our folks had something that was secure.” The Century City firm will merge with Ruder Finn’s West Coast group, which includes offices in Los Angeles and San Fran- cisco. Rogers will be president of the agency’s L.A. office, to be called Rogers Ruder Finn. The combined office will initially have close to 40 employees, with more planned hires expected to boost that number to around 50. Financial terms of the deal were not disclosed. Rogers founded what was then called Rogers & Associates in 1978, and hired Doll in the early ’80s. She quickly proved equally adept at crisis management and public education campaigns, and he eventually named her president. By the time of her death last year, she had become the heir apparent at the firm, which became Rogers Group in 2006. Doll had battled cancer, but was cancer free when she died suddenly. “I was turning more and more of the company over to her,” Rogers said. “When Lynne was still alive, one of the exit strategies was that she would over time buy me out.” Christopher Myers A few months after Doll’s death, he started taking calls from potential buyers, and putting President and Chief Executive Ofﬁcer out some feelers of his own. Citizens Business Bank “The talks started after I got over the shock of it,” he said. “It was obvious to a lot of people we had to do something.” One of those potential buyers was Ruder Finn, which over the past year has been looking to expand its presence in Los Angeles. ONE OF THE BEST INVESTMENTS Richard Funess, president of Ruder Finn Americas, has known Rogers for decades and WE’VE EVER MADE, ONTARIO. called him late last year. “It happened to be at a time when we were looking around to try and do something,” Funess said. “It took a while but we both saw For nearly twenty ﬁve years Citizens Business Bank the value of associating with one another.” has called Ontario its headquarters. Troubled times The announced acquisition follows a partic- Our success is achieved by being a business partner ularly rocky time in the firm’s history. In recent years, state and local budget cuts have hurt the for the long term, no matter the cycle. firm’s government contracts, which account for about half of its business. In December, state budget cuts caused Rogers to lose its biggest Isn’t it time you invested in a city that thinks like client, First 5 California, which invests in services and programs for young children. Rogers a business? had to lay off five employees in January, bringing the head count down to 30. That’s a steep drop from the 70 employees the company had in 2005, according to data from ONTARIO, CALIFORNIA. WE THINK BUSINESS. J.R. O’Dwyer’s Co., a public relations trade publisher. The firm’s net fees dropped from $10.4 million in 2005 to $3.5 million in 2010. Rogers called the period since Doll’s death one of the most challenging since he started his firm after splitting from his father, Henry, who co-founded the L.A. agency Rogers & Cowan, more than 30 years ago. But he believes the national platform provided by Ruder Finn www.ontariothinksbusiness.com 909.395.2005 would make the firm more competitive. “In today’s environment, it’s tougher to MAYOR PAUL S. LEON I MAYOR PRO TEM DEBRA DORST-PORADA I COUNCIL MEMBERS I ALAN D. WAPNER, SHEILA MAUTZ, JIM W. BOWMAN operate with just one office,” Rogers said. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

8 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS APRIL 11, 2011 Venice Firm Helps Unleash Whole New ‘World’ often decide to handle marketing themselves. ADVERTISING: Liquid “Many times the game makers know how to talk to their community better than anyone used focused approach to else,” Steinberg said. “The question becomes: Is guide ‘Warcraft’ campaign. it cost-effective to have media planning and creative staff in-house rather than use an agency?” By JOEL RUSSELL Staff Reporter Steinberg also said that an ad agency must diversify its client base or risk going under if the In a year of dwindling video game sales, entire game industry experiences a sales slump. Venice agency Liquid Advertising scored Most game-specific agencies, he noted, move bonus points for handling the launch of into other types of entertainment clients such as “World of Warcraft: Cataclysm,” which movie studios, TV shows and music labels. became the best-selling PC game in history. Akerlof said Liquid’s experience with a Liquid, which specializes in selling video wide range of game campaigns gives it data games online, has developed a highly effective and insights unavailable to a single publisher. way to target Internet ad placements. It now The agency recently took a step toward diver- plans on applying the method to other niche sifying beyond games by signing a deal with markets as the agency tries to speed its growth. Indomina Releasing, an independent film dis- Liquid’s clients include many of the big tributor based in Beverly Hills. Liquid will game publishers such as Electronic Arts, handle online promotion for several theatrical Ubisoft Entertainment, Culver City-based films and direct-to-video movies this year. Riot Games and Burbank-based Warner Bros. Interactive Entertainment. Its biggest success ‘Hot girls’ to date is the latest “World of Warcraft” install- For Akerlof, the biggest challenge for his RINGO H.W. CHIU/LABJ ment, which was released Dec. 7 by Santa Mon- Game Faces: At top, Liquid’s Akerlof with Huang, left, and Hamon at Venice HQ. agency is training new workers. ica-based Activision Blizzard Inc. “We can’t just plug any media buyer or art In its first 24 hours, “Cataclysm” sold a record President Will Akerlof said video game sales agency determines, for example, the best sites director into our system and have them work 3.3 million units at a retail price of $39.99. The depend more on specific title releases than over- for Xbox 360 players who like gory shooting out,” he said. “We have to grow our own peo- game is a new edition of “World of Warcraft,” an all market conditions or the health of the econo- games. Then it goes further and selects which of ple and that limits our growth.” online fantasy game with 12 million players my, and “Cataclysm” had an eager audience. those few sites historically have produced the Liquid has 17 full time employees, includ- worldwide. Each player pays a monthly subscrip- “It’s been a thrill to be a small part of such best sales, and concentrates its fire power there. ing Akerlof and his two partners, Media Direc- tion fee to access the online fantasy world popu- an amazing success story,” Akerlof said of Raquel Basso, director of media planning at tor Marlo Huang and Creative Director Alison lated by elves, trolls and dragons. “Cataclysm.” Electronic Arts, said Liquid produces great Hamon. The agency has only added three new Liquid has worked for “World of Warcraft” sales and return on advertising investment workers since 2009, despite plenty of demand since the game began in 2004. For “Cataclysm,” Beyond the basics because of audience targeting. for new work. the agency was selected to manage the online To sell to gamers, Akerlof developed an “They have a great record at selecting the As sophisticated as its laser-targeting portion of the campaign. The marketing effort approach that he calls laser-targeting. Most right sites,” Basso said. “We recently launched approach may be, the creative side of the kicked off months before the launch when a cine- agencies purchase ad space by targeting an a casual pick-up-and-play game and we saw advertising for video games remains simple: matic trailer for the game appeared on YouTube. audience, such as 18- to 24-year-old males, the great results.” “All our years of research on young males It was viewed more than 10 million times. main buyers of video games. Alternately, they Scott Steinberg, chief executive at video boils down to three conclusions,” Akerlof said. Overall, video game sales fell 6 percent in might target the subject matter by buying ad game consulting firm TechSavvy Global in “Ads with hot girls do well; ads with interactive 2010, according to Port Washington, N.Y-based space on a site with content about video games. Atlanta, said a major challenge for an ad features do well; and ads with interactive fea- market research firm NPD Group. But Liquid Liquid goes beyond those basics. The agency focused on games is that the publishers tures involving hot girls do exceptionally well.” Join Us For A Networking Luncheon With A Purpose! L.A. COUNTY EMPLOYEES Going Above and Beyond to Give Back Please join Honorary Chairs Matt Toledo LABJ Publisher & CEO Enriching lives through effective and caring service is the mission of the County of and Peter Tilden KABC 790 TalkRadio Host Los Angeles Workplace Giving Program. Every day, County employees see individuals and families struggling to make ends meet. While it’s their duty to provide services to the community, In Honoring Strictly Business L.A. will bring it’s their passion to go above and beyond their jobs. Larry Miller together hundreds of business Los Angeles County, with over 100,000 positions, is the largest employer in the Corporate Leadership Award leaders, professionals, policymakers region, with jobs ranging from scuba diver to helicopter pilot. United Way and its President & CEO and community partners to support partners are proud to work with County employees during Cesar Chavez Community Service Sit ‘n Sleep Week and year-round. JVS’ life-changing work and celebrate the role of corporate philanthropy in Together, United Way and L.A. County are striving to make a difference in our communities by collaborating around critical issues such as homelessness. improving the life of our community. Carl Terzian They have been a consistent winner of the Spirit of LA award for over a decade and continue Corporate Partnership Award to create pathways out of poverty. Chairman Networking 11am Luncheon 12 -1:30 Carl Terzian Associates The Beverly Hilton “Our employees are proud to be United Way’s number one fundraiser in the public sector, raising $760,000 for United Way’s Creating Pathways Out of Poverty plan.” 2011 Sponsors* — Ellen Sandt, Deputy Chief Executive Ofﬁcer, Operations Cluster L.A. County Employees

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APRIL 11, 2011 LOS ANGELES BUSINESS JOURNAL 9

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10 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS APRIL 11, 2011

RINGO H.W. CHIU/LABJ Buff Guy: Jonathan Saltman, founder of International Aero, with a car-cleaning product from the new Aero line at the company’s headquarters in Bellflower. Jet Cleaning Business Looks to Land Car Customers and leather and vinyl conditioner. The products Priest. “It’s an elitist crowd. To me, that would RETAIL: International Aero are packaged in upscale aluminum dispensers International Aero be a good spin.” launches a high-end line of and have a price to match. A 16-ounce bottle Still, he said, car enthusiasts are fickle and of exterior wax goes for $27.99. YEAR FOUNDED: 1986 International Aero has some tough competition products for automobiles. Currently, the products are only available HEADQUARTERS: Bellflower from Meguiars, Mothers and other respected online, but Bill Buchanan, Aero’s director of brands, all of which make good products that CORE BUSINESS: Detailing private jets. By SAM BENNETT Staff Reporter new business development, said he has auto cost less. For example, Meguiars top-of-the- store chain distribution deals secured in 14 Custom building jet interiors. Manufacturing line Ultimate Paste Wax has a suggested retail landing gear for aircraft makers. ONATHAN Saltman’s new line of prod- Western states, as well as Hawaii, Alaska and price of $22.99. ucts will never take off – and that’s all of Canada. He said he could not yet disclose EMPLOYEES: 185 exactly what he’s counting on. the name of the chain. Changing gear GOALS: To distribute new line of auto-care His soaps and polishes were devel- “Most of them have really sat up and If the new product line does take off, it will J products through retailers nationwide. oped during 20 years of use on private jets, but looked at the packaging because it is so mean Saltman’s career has come full circle. now will be put to the test firmly on the ground unique,” he said. A few feet from the mills and lathes that cut in the automotive after care market. The company’s marketing efforts recently parts for airplanes, Saltman has parked his 1977 Saltman is introducing the products at a got a further boost when Edelbrock, a Tor- more materials from jets. Carbon fiber was Corvette. The cherry red sports car helped launch pivotal time in his three-decade career. Inter- rance-based performance part manufacturer, first used on jets, as was polyurethane paint. Saltman’s career when he repainted it at 16. national Aero, his Bellflower company, endorsed Aero as its official car-care line. “The aerospace industry is always in front A licensed pilot at 17, he began detailing cars cleans and paints of the auto industry,” he said. in his teens and started his plane detailing busi- Profile: private jets, builds Detailing teams Saltman boasts that his waxes can protect ness in 1986 while still attending USC, where he custom-designed International Aero is a diverse operation. the paint on jets from a scorching 120 degrees majored in business and minored in chemistry. DIVERSIFYING interiors and manu- The custom interiors are done at the Bellflower on the tarmac to a minus-60 degrees at 50,000 After 10 years of using off-the-shelf prod- facturers landing headquarter plant, as is gear manufacturing and feet at speeds topping 500 miles per hour. ucts, he formulated his own. He realized the gear for companies such as Boeing. other parts work that account for about 15 per- “Formulated for aircraft, and perfect for drawbacks of the original products: tire condi- Private aircraft sales and the jet charter busi- cent of revenue. your car,” is how Saltman puts it. tioners that slung oil film on the plane’s under- ness were nearly grounded by the recession and Three detailing teams are stationed at air- Alan Baum, an automotive industry consul- belly, degreasing formulas that were corrosive have been slow to come back – hitting related ports in Tucson, Ariz.; Fort Lauderdale, Fla.; tant, said International Aero appears to be to paint, and waxes that contained silicones or businesses such as International Aero hard. and Long Beach. Saltman also has teams that picking the right time to launch a line aimed at would melt under extreme temperatures. Saltman had to lay off about 10 percent of float between jobs, doing work as needed at the very top of the market. Armed with his chemistry degree, Saltman his 190-person work force, a painful step for a airports such as LAX. “The luxury car market is coming back searched for formulas that would replenish the small company like his. Saltman would not disclose annual revenue, more quickly than the mainstream market,” high-price hides used on custom jet seats and “It was a very difficult time and a hard but said a typical interior job costs about $2 mil- Baum said. “The market is opening up for auto protect the planes’ shells. He worked with decision,” said the 45-year-old entrepreneur. lion. The company also has completed jobs well financing in general.” local chemists to fine-tune the products to his “Airplanes are the first to be purchased when into the tens of millions for royal families and With its link to jet performance, the prod- standards. times are good, and the first to be sold when other customers, with aircraft ranging from small uct line could get a lift, said Darren Priest, a “We have to worry about leaving any times get tough.” jets to customized 747s. On a recent weekday, consultant and president of Expert Mobile residue for somebody in a $3,000 to $4,000 So Saltman thinks by diversifying he may workers were putting the final touches on an inte- Car Detailing, a Corona del Mar luxury suit or silk cardigan,” he said. be able to quell some of the turbulence that has rior with leather seats costing $30,000 apiece. detailer. He noted that car maker Saab par- He’s hoping that the same pride of ownership shaken his business. The idea is to leverage that kind of work layed its reputation for building military will compel car owners to buy Aero products. The line, dubbed Aero, includes exterior into a cachet that the luxury automobile crowd planes into car sales. “Autos are the second most expensive asset soap, tire and wheel cleaners, aluminum pol- will buy into. One of Saltman’s pitches is that “When you think of jets, you think of per- that most people will own,” he said. ish, window cleaner, upholstery stain remover, cars manufacturers are employing more and formance and precision engineering,” said If you don’t already own a private jet, that is. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

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12 LOS ANGELES BUSINESS JOURNAL NEWS & ANALYSIS APRIL 11, 2011

MEDIAWATCH Glenn Schieke, 56, Veteran MOVIE BOX OFFICE Executive, Skilled Musician Weekend Gross Total Gross Rank Title (millions) (millions) Distributor 1 Hop $37.5 $37.5 Universal OBIT: Phelps Group COO 2 Source Code 14.8 14.8 Summit ADVERTISING 3 Insidious 13.3 13.3 FilmDistrict played piano at opening &PR 4 Wimpy Kid: Rodrick Rules 10.0 38.2 20th Century Fox 5 Limitless 9.3 55.5 Relativity ceremony of ’84 Olympics. JOEL RUSSELL 6 Lincoln Lawyer 6.8 39.4 Lions Gate 7 Sucker Punch 6.0 29.8 Warner Bros. HELPS Group in Santa Monica lost one 8 Rango 4.5 113.7 Paramount of its top employees when Chief Operat- 9 Paul 4.2 31.8 Universal Ping Officer Glenn Schieke died due to 10 Battle: Los Angeles 3.5 78.5 Columbia complications from pneumonia. agency at the time, but that sector has since Weekend ended April 3 Source: Bloomberg News Schieke handled many of the human faded and the firm currently doesn’t represent resources and workload management duties at any musical clients. PRIMETIME TV SHOWS the integrated advertising and PR agency. He “Glenn’s job had evolved more into general Rank Program Network Rating* had worked at the company 26 years. He was agency management,” Phelps said. “We had a 1 Dancing With the Stars (Mon.) ABC 13.9 56 and died March 30. memorial slide show at our 30th anniversary 2 American Idol (Wed.) Fox 13.6 Chief Executive Joe Phelps said that the party April 2 and dedicated the party to Glenn. 3 American Idol (Thurs.) Fox 12.9 agency is rethinking He would have loved seeing the many past and 4 Dancing With the Stars (Tues.) ABC 12.0 the functions of the current clients and associates who came to cele- 5 NCIS CBS 11.3 COO position, but for brate.” Week ended April 3 *Each rating point equals 1.1 million homes. now, he, Chief Finan- Source: Bloomberg News cial Officer Myles Orci Replaces Orci Watling and Vice Pres- The new chief executive of Orci Advertis- CABLE TV SHOWS ident Ed Chambliss are ing is Andrew Orci, son of the Hispanic Rank Program Network Rating* absorbing the work agency’s co-founders, Hector and Norma Orci. 1 Pawn Stars History 4.2 Schieke formerly per- Andrew Orci has worked at the agency for 2 Pawn Stars History 4.1 formed. 14 years, including three as chief operations 2 American Pickers History 3.8 In addition to his Schieke officer. In that position, he led the agency’s 4 Kids Choice Awards Nickelodeon 3.6 advertising career, move into digital advertising. Before joining 5 WWE Entertainment WWE Raw (Mon., 10 p.m.) USA 3.5 Schieke worked as a musician. He studied piano the family company, he founded Nectar Media, Week ended April 3 *Each rating point equals 1.1 million homes. with Vladimir Horowitz and played one of the a digital media and postproduction company. Source: Bloomberg News 84 grand pianos featured in the opening ceremo- Andrew Orci will replace his father as CEO. TOP SELLING ALBUMS ny at the 1984 Los Angeles Summer Olympics. Hector and Norma Orci will retain their titles of He also played the French horn on Barbra chairman and vice-chairwoman, respectively, at Rank Last Week Artist Title Label Streisand’s recording of “Evergreen,” the theme the West L.A. agency they founded in 1986. 1 New Chris Brown F.A.M.E. Jive song for the movie “A Star Is Born.” The song Orci Advertising clients include Honda, 2 New Jennifer Hudson I Remember Me Arista won an Oscar, Grammy and Golden Globe. Jack-in-the-Box, Splenda and Sempra Energy. 3 1 Adele 21 Columbia When Schieke joined the Phelps firm in 4 New Strokes Angles RCA 1984, he handled the advertising accounts for Staff reporter Joel Russell can be reached at 5 New Kirk Franklin Hello Fear Gospo Centric more than a dozen musical instrument manu- [email protected] or at (323) Week ended April 8 Source: Billboard.com facturers. Music was a major category for the 549-5225, ext. 237. MOVIE RENTALS - DVD/VHS Rank Last Week Title Distributor 1 New Tourist Sony 2 1 Fighter Paramount 3 New Skyline Universal Deals Website Makes Play 4 New How Do You Know Columbia 5 New Yogi Bear Warner Bros. Week ended March 27 Source: Rentrak With a Gaming Element DVD SALES “By creating these casual games that draw Rank Last Week Title Distributor Suggested Retail INTERNET: GoSave.com’s people to the website, I was really looking to 1 New Yogi Bear Warner Bros. $28.98 president sees social aspect create something that could engage people,” 2 New Tourist Sony 28.95 he said. 3 New Skyline Universal 29.98 as key to business’s success. McLeod raised $360,000 in funding from 4 1 Fighter Paramount 29.99 family, friends and private investors to start 5 New How Do You Know Columbia 28.95 HEN Dane McLeod took a look at the GoSave, which now has 10 employees. He Week ended March 27 Source: Rentrak tech industry in 2009, he noticed that planned to launch the site in September last everyone was buzzing about social year, but decided to rebuild it from scratch MOVIELINK DOWNLOADS W games such as “Farmville” and online deals. So after a first effort didn’t have enough of the Rank Title Distributor Suggested Retail the recent college grad decided to start a compa- social networking element. 1 Black Swan 20th Century Fox $15.95 ny that combined the two trends. “We scrapped the old website and went 2 Tourist Sony 15.95 back to square one,” he said. “We wanted it 3 Fair Game Summit 15.95 to be more social.” 4 How Do You Know Columbia 15.95 TECHNOLOGY 5 Due Date Warner Bros. 15.95 Game Grab Week ended April 6 Source: Cinemanow.com NATALIE Jirbo Inc., a West L.A. company that JARVEY develops mobile phone applications, has snagged an Activision Blizzard Inc. veteran OUTTAKE OF THE WEEK as its new chief executive. Will Kassoy, who was a senior vice presi- DANCING IDOL dent at the Santa Monica video game pub- TV’s two big reality The result? GoSave.com, a website where lisher, will oversee Jirbo’s operations, which franchises dominated people compete against each other in game include an app gaming division. the ratings for the show-style contests to earn points that they Jirbo has developed more than 200 mobile week ended March can later redeem for gift cards. apps, including Sportsbook, which helps 27. The twice-a-week The site, which launched last month, also users place bets on college and professional shows took the top awards points to members who shop online sports games, and Paper Football, a game four spots, with at GoSave’s partner retailers including Tar- where players flick on an on-screen paper “Dancing With the get Inc. and iTunes. GoSave even provides football. The company also operates an Stars,” featuring special discount coupons for those purchases. advertising network, AdColony, which Ralph Macchio, left, Prizes are typically gift cards to restau- places video ads on mobile apps. edging “American rants or retailers. McLeod, president of the Idol” for No. 1. downtown L.A. company, said he needed Staff reporter Natalie Jarvey can be reached more than discount offers to get people to at [email protected] or at come to the site, and games were the answer. (323) 549-5225, ext. 230. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

APRIL 11, 2011 NEWS & ANALYSIS LOS ANGELES BUSINESS JOURNAL 13

and culinary products. Chief Financial Officer Jeffrey labusinessjournal.com NEWS OF THE WEEK Wahba and President Patrick The best source for up to the minute local, national and Criteser will share chief exec- worldwide business news. declines in feature shooting RETIRING: After leading utive duties until a replace- FREE MORNING UPDATE and TV production. Feature the Port of Long Beach for 14 ment is found. film production declined by years, Executive Director Prepared by the editors of the Los Angeles Business Journal and sent to you by e-mail every business day. Sign up now at 5.3 percent compared with the Richard Steinke said he will ON HOLD: A controversial www.labusinessjournal.com previous year, while a step down Sept. 30. During his proposal to build a $160 mil- decrease in reality shows and tenure, Steinke planned major lion hotel and conference cen- drama activity led to televi- expansions and initiated the ter on the UCLA campus has expects net proceeds, exclud- cation Variety, which moved sion production dropping by Green Port Policy that includes been put on hold pending a ing the overallotment shares, to a high-rise several blocks 3.7 percent during the quarter. study of the project’s to be about $192 million, and west at the end of 2008. In contrast, sitcoms soared by Steinke finances. The decision comes will use the money to buy AIRLINE DEAL: The Los 77 percent, thanks to single- only days after the Academic four office buildings in the INVESTMENT: Teledyne Angeles Board of Airport camera cable programs such Senate’s Council on Planning Seattle suburb of Kirkland for Technologies Inc. of Thou- Commissioners has approved as “Californication” and and Budget issued a statement $100 million. sand Oaks has announced its a settlement between Los “United States of Tara,” opposing the project, which Dalsa subsidiary has acquired Angeles World Airports and which are heavily filmed on received a $40 million dona- MOVING: The Hollywood a minority interest in laser- Alaska Airlines Group that location. tion from prominent UCLA Reporter and five associated based survey and digital will enable LAX to move for- alumnus Meyer Luskin and businesses and publications imaging company Optech ward with a $271 million ren- ACQUISITION: Aerospace his family. The 282-room pro- are moving several blocks Inc. The Vaughan, Ontario, ovation of Terminal 6. Alaska supplier Ducommun Inc. is the Clean Trucks Program. ject is proposed for the east down the street to the Miracle company makes systems Airlines and three other air- planning to acquire electron- The port also developed the side of campus on the site of Mile’s Wilshire Courtyard used in airborne ground map- lines sued the airport agency ics maker LaBarge Inc. in a former Long Beach Naval the 50-year-old Faculty Cen- ping and laser imaging as in 2007, alleging that it deal valued at $305 million. Complex, which became one ter, which would be razed and well as sensors for orbital unfairly levied a tariff to The Carson maker of aircraft of the country’s largest con- rebuilt elsewhere. The project operations and planetary cover increased security components said acquisition tainer cargo terminals. The also was opposed by West- exploration. Its customers costs. The airline has agreed of the St. Louis company Board of Harbor Commission- wood residents and several include governments, and to drop the suit as part of a would nearly double its rev- ers said it would begin a search nearby hotel owners. companies in the energy, nat- deal that will make it the pri- enue base, and provide access for Steinke’s successor. ural resources and infrastruc- mary tenant of the renovated to new customers and mar- STOCK OFFERING: Kil- ture industries. Terms of the terminal for at least 10 years. kets. LaBarge makes elec- LEAVING: Farmer Bros. roy Realty Corp. has deal were not disclosed. The announcement did not tronics systems and subsys- Co. Chief Executive Roger launched a public offering of address the status of the other tems used in airport security Laverty III is stepping down 5.3 million shares and priced complex. The businesses, EARNINGS: KB Home plaintiffs. equipment, military aircraft, April 19 and will retire at the them at $38.25 each. The L.A. owned by New York-based reported a fiscal first quarter radar systems, satellite launch end of the company’s fiscal real estate investment trust Prometheus Global Media, net loss of more than $114 FILMING STATS: Permit- vehicles, glass containers and year in June. Laverty, 63, has also granted underwriters a are taking the entire fifth million, compared with a loss ting agency FilmLA Inc. said oil field tooling. The deal, been with the Torrance coffee 30-day option to buy up to floor at 5700 Wilshire Blvd. of $54.7 million a year earlier. that a spike in student films, which will pay LaBarge roaster and institutional food 787,500 additional shares to The 10-year lease for 27,040 Revenue fell 25 percent to music videos and other small shareholders $19.25 per share service company for five cover excess demand. When it square feet is valued at more less than $197 million. … projects boosted location in cash with Ducommun years. After a long period of priced the secondary offering, than $12.5 million. The orga- Electro Rent Corp. reported shooting in Los Angeles by assuming LaBarge’s out- stagnation, Laverty is credited Kilroy raised the size from its nization could move in as net income of $5.08 million, 4.7 percent in the first quarter standing debt, must be for growing Farmer Bros. into original 4.5 million shares soon as June. Wilshire Court- 136 percent higher than year of this year. The small-project approved by shareholders and one the nation’s largest deliv- with a 675,000-share overal- yard was formerly home to earlier. Revenue rose 80 per- increase came in contrast to antitrust regulators. ery businesses for coffee, tea lotment option. The company rival Hollywood trade publi- cent to $59.5 million.

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Please join us as we honor our 2011 Healthcare Leadership Awards Finalists: Healthcare Icon – 2011 Honoree Healthcare CEO Community Outreach Program Thomas M. Priselac, President and CEO • Castulo de la Rocha, AltaMed Health Services • Creating Opportunities for Physical Activity • Richard Merkin, Heritage Provider Network • OPCC Cedars-Sinai Health System • Pax Prentiss, Passages Malibu • Premiere Oncology Foundation Hospital/ Medical Center CEO • M. Roy Wilson, Charles R. Drew University of Medicine & Science • Providence Mobile Clinic • Providence TrinityCare Hospice • B. Joseph Badalian, Lakewood Regional Medical Center Special Achievement • Benjamin Chu, Kaiser Permanente, Health Plan & Hospitals • Pura Healing • Robert Adler, Children’s Hospital Los Angeles • SCAN Health Plan • Richard Cordova, Children’s Hospital Los Angeles • Dan Bethencourt, The Bethencourt Group • David Feinberg, UCLA Health System • F. Ronald Feinstein, Kaiser Permanente Hospital or Medical Center • Beverly Gilmore, West Hills Hospital • Gerald Levey, David Geffen School of Medicine at UCLA • Michael Hunn, Providence Little Company of Mary Medical Center • Hollywood Presbyterian Medical Center • Marsha Sato, Mount St. Mary’s College • Kaiser Permanente South Bay Medical Center • Heidi Lennartz, Mission Community Hospital • Jeffrey Weisz, Kaiser Permanente • Michael Rembis, Hollywood Presbyterian Medical Center • Mission Community Hospital • Beth Zachary, White Memorial Medical Center Community Clinic • Providence Holy Cross Medical Center • Eisner Pediatric & Family Medical Center • Providence Little Company of Mary Medical Center Healthcare Executive • El Monte Comprehensive Healthcare Center • UCLA Health System • Linda Burnes Bolton, Cedars-Sinai Medical Center • UCLA School of Dentistry • West Hills Hospital • Brandon Faulk, Paciﬁc Alliance Medical Center • UMMA Community Clinic • Mary Dee Hacker, Children’s Hospital Los Angeles • Vasek Polak Health Clinic Institutional or Educational Program • Glen Komatsu, Providence TrinityCare Hospice • Central Nursing College • Mount St. Mary’s College – Graduate Nursing Program • The Saban Research Institute at Children’s Hospital Los Angeles PLATINUM SPONSOR: GOLD SPONSORS: For tickets or more information, contact Arent Fox Event Coordinator Marissa De La Cruz at Safety Net Provider Argosy University [email protected] • Los Angeles Biomedical Research Institute Hub International Insurance Services Inc. • USC School of Pharmacy & JWCH Institute • White Memorial Medical Center Moss Adams LLP 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

14 LOS ANGELES BUSINESS JOURNAL APRIL 11, 2011

SHAZI VISRAM HAPPYBABY HAPPYBABYFOOD.COM MEMBER SINCE 97

©2011 American Express Bank, FSB. All rights reserved. Enrollment in the Membership Rewards® program required. Other terms, conditions and restrictions apply. Visit open.com/gold for details. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

APRIL 11, 2011 PEOPLE LOS ANGELES BUSINESS JOURNAL 15

Former O.J. Simpson lawyer Robert Shapiro has moved from a criminal focus to representing Civil Action business clients at Glaser Weil.

By ALFRED LEE Staff Reporter

ORMER O.J. Simpson attorney Robert Shapiro is one of the most famous criminal defense attorneys in the F country, but these days he’s angling to be known for working civil cases. A name partner at Glaser Weil Fink Jacobs Howard Avchen & Shapiro LLP for the past 15 years, Shapiro says he spends most of his time on business litigation, though in the past he’s represented everyone from Johnny Carson to Phil Spector in criminal matters. He’s also a busi- nessman with interests in online companies LegalZoom, which provides legal documents over the Internet, and ShoeDazzle, a seller of footwear, handbags and jewelry. The shoe retailer was co-founded by Kim Kardashian, daughter of his O.J. Simpson co-counsel Robert Kardashian. At 68, Shapiro is fit and trim, keeping in shape by boxing three times a week. Even though he dislikes giving interviews, he was gregarious and accommodating, offering his remarks while sitting at the desk of his Century City office. He spoke candidly about the death of his son, the best advice Jack Nicholson – or anyone else – ever gave him and why he doesn’t want to talk about Simpson (although he did anyway).

Question: When was your last sit-down interview? Answer: I would say at least five years ago. Here’s what we would like, and I know I can’t direct an interview, but basically what I am trying to accomplish is to let people know I’m taking and have taken a change in my career RINGO H.W. CHIU/LABJ more towards civil. I’m still doing criminal, Familiar Face: Robert Shapiro, name partner at Glaser Weil, in front of his portrait at the law firm’s Century City office. but on a real selective basis. You also have founded and remain tor who was a personal friend and bringing Why don’t you like to talk? involved in businesses. Robert Shapiro him back to the hospital. The best doctors at People ask, but I never want to talk about the My job is being a lawyer – that’s what I do, Cedars were attending to him but time was things they want to talk about. They always that’s my 9-to-5 job. I work with LegalZoom TITLE: Name Partner against us. want to talk about Simpson. I have no interest more as a consultant. I’m involved in major FIRM: Glaser Weil Fink Jacobs Howard in talking about Simpson. Simpson was 15 decisions, but I’m not a member of the board Avchen & Shapiro LLP What happened once he got to the hospi- years ago. I’m beyond Simpson. I gave two and I’m not an employee. The same thing tal? interviews after the case, I wrote a book, and with ShoeDazzle, and I don’t have an office BORN: Plainfield, N.J.; 1942. He was put on a respirator immediately. And it after that my answer is “No-J.” in either place. And my free time is spent on EDUCATION: B.S. finance, UCLA; J.D., Loy- turned out you have about a five-minute win- a foundation that we created with my wife ola Law School. dow before you have irreversible brain dam- Is it because you think the Simpson case called the Brent Shapiro Foundation for drug age. And they made it to about seven minutes, had a negative impact on your career? and alcohol awareness, which we started in CAREER TURNING POINT: Representing so it was too late. He was on a respirator artifi- It’s who you talk to. Anything with contro- 2005. My elder son passed away when he Christian Brando, charged with murder in cially breathing for a day, and the doctors versy is going to have positive and negatives. was 25, and that’s when we started the 1990. (Brando pleaded guilty to manslaughter.) came and examined him and found there was The media’s a strange thing. Charlie Sheen foundation. MOST INFLUENTIAL PEOPLE: “Idolized” no brain function. Then we made a decision no said it best the other day: “I’m the lead story famous attorneys Melvin Belli, F. Lee Bailey, parent should have to make. on every news channel today, and yet the What can you tell me about that? Edward Bennett Williams, Frank Rothman, Middle East is in the biggest revolution the To this day I really can’t explain how Gerry Spence. The decision was made by you and your world has ever seen.” Everybody likes gos- I feel about it. It’s a horrible event that wife? sip, plain and simple. Nothing more, nothing nobody would want to have to experience. It PERSONAL: Lives in Benedict Canyon with And my other son, Grant, who is now 26. less. No one wants to hear about civil cases, never leaves you. It’s with you all the time. his wife, Linell; Has a 26-year-old son, Grant. that’s for sure. And you have to develop certain mechanisms ACTIVITIES: Boxing, mountain biking. Other than the practical way of respond- to be able to compartmentalize. For me, it ing with the foundation, did it make you You’ve been working civil cases for 15 was talking about alcohol and drug depen- view life differently? years, so why push to publicize it now? dency disease. How did you hear about it? It’s the ultimate life-changing event that is with Because I really want to focus more and more His fiancée called me at 7 in the morning on you night and day. There’s no way to say how on it. It’s important to me for the public to How did your son die? Sunday and said, “Brent’s not breathing and somebody should react. I think everybody know that there is much more to me as a My son was in his third year at USC, he was he’s turning blue.” She gave me the location, reacts in a different way. My way was to stay lawyer than just a few high-profile cases. on the dean’s list. He was a drug addict and and I knew it was close to Cedars. I said, busy, to focus as much as I could. Actually I alcoholic. “Have you called the paramedics?” She said, tried a case two weeks later, an attempted mur- Why are you attracted to them anyway? “Yes, just before I called you.” I said, ‘I’ll see der and arson case in Pasadena. It’s just a different atmosphere, a different Did you know it? you at the hospital.” When we got there before challenge and dealing with, quite frankly, a I did at some point in time, but I didn’t know it the paramedics, I knew the news wouldn’t be Did it make you view your career different class of people. early enough. I didn’t recognize it early good. And it wasn’t. differently? enough. But he had been sober for 18 months. You know, I really can’t tell you how it A different class? He went to a party with his fiancée, who’s a Do you remember what was running changed me. It’s changed me, but I can’t artic- Usually the people you deal with in the civil little bit older. For some reason that is inexplic- through your mind that day? ulate the way it has. cases, especially in the business cases that I’m able he broke his sobriety, had a couple of I remember like it was yesterday. I can tell you dealing with, are more sophisticated. I have drinks, took a half of ecstasy, and got very, the minute the phone started ringing. I remem- How soon did you set up the foundation? more in common with them on a personal very sick. Nobody wanted to take him to the ber waking my wife up, getting to the car, The next day. Two thousand people came to basis than I do with people that I’ve represent- hospital and report it because they didn’t want rushing down to Cedars-Sinai, waiting for the the memorial service. We did something very ed on criminal cases. They’re people you can us to know. And he actually aspirated that emergency room, talking to the fire captain unusual, which is that anybody who spoke, socialize with, spend time with and have a con- evening, which caused him to go into cardiac who told me what they had done and what his spoke about either personal experiences with tinuing relationship with, whereas with crimi- arrest. By the time he was taken to the hospital, condition was, spending the next five to six nal cases it’s just one time. he was already brain dead. hours in the hospital, and getting my own doc- Please see page 16 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

16 LOS ANGELES BUSINESS JOURNAL PEOPLE APRIL 11, 2011

say, “I can’t take a case because I’ll lose money Continued from page 15 on it.” Well, if I was sitting in my office, I was losing money. If somebody saw me in court and drugs and alcohol, or experiences with Brent I did a good job, maybe they’d ask for my card, dealing with drugs and alcohol. So we dealt and maybe if they needed a lawyer, they’d hire with it head-on. One of my friends said, “I’d me. Every time I appeared in court, I would pick like to make a donation to your favorite chari- up clients. And that’s how I built a practice. ty.” And I thought about it and just instanta- You could do five, 10 a day, the types of cases I neously said I want to start a foundation for was doing when I started out. alcohol and drug awareness. He wrote out a very generous check right out on the spot. What was your first high-profile case? I got very fortunate. Within a year after going Why was it important for you that people to private practice, I got the first major publici- talk about Brent’s dealings with drugs ty case in a long time, when (adult film star) and alcohol at the service? Linda Lovelace got arrested in Las Vegas for People have to communicate about this dis- possession, sale and transportation of cocaine. ease. It can’t be a shameful disease, it’s not a We got the case dismissed. And then I started secret. In the last five and a half years since getting a reputation and was getting more we’ve had this foundation, it’s almost impossi- important cases. That was in the early ’70s. ble to come in contact with anybody who has not been directly affected by this disease – What were some other big cases? either a loved one or friend or child. It’s an epi- The ’70s were drugs, sex and rock ’n’ roll. demic we do not deal with or communicate And I represented a lot of people in the with on the same level as any other disease. music business and the entertainment business who were charged with serious crimes. Let’s shift back to your career. How did And I was able to build a relationship with you become a criminal defense lawyer for the managers and promoters and the talent. In celebrities? the ’80s, I got two major cases back to back. Upon graduation I was hired by the district One was on a Friday night when F. Lee Bai- attorney’s office. I was there for two years. I ley – he was the most prominent lawyer in left and did criminal defense exclusively as a America and had just finished the Patty sole practitioner. I took just about anything that Hearst case – got arrested for drunk driving walked in. I would do a few accident cases, in San Francisco. On Saturday, Johnny Car- some divorce cases, some adoption cases. My son got arrested for drunk driving in Los office was on Sunset Boulevard. Angeles. Both of them hired me.

What did you like about it? What was your career turning point? I liked going to court. For the first seven years I I really think the thing that changed my career was a lawyer, I was in court every day the court- dramatically was when I represented Christian room was open. I had a philosophy in investing Brando (charged with murder in 1990). Out of the Office: Clockwise from top left, Shapiro with wife, Linell. With in people – if a client wanted me for a lawyer, I ShoeDazzle partner Kim Kardashian. On Bahamas vacation. never turned a client down. I’d heard lawyers Please see page 18

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APRIL 11, 2011 LOS ANGELES BUSINESS JOURNAL 17

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18 LOS ANGELES BUSINESS JOURNAL PEOPLE APRIL 11, 2011

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RINGO H.W. CHIU/LABJ Different Look: Shapiro in his Century City office.

think there will be another trial like that. Continued from page 16 How did it change your career? CCOMPETITIVEOMPETITIVE It certainly gave me name recognition, not only How so? in this country but really across the world. It cer- CCOGENTOGENT Marlon Brando had his choice of any lawyer in tainly opened up business opportunities for me, COMMANDING the world to represent his son, who was the something I was always interested in. There was only one he had actually fathered – he had a lot of negativity attached to it at the time. CONSISTENT adopted 11 other kids. It was the most famous There was a tremendous divide in this country CREATIVE actor in America, one of the most well-known between African-Americans and Caucasians as COMPREHENSIVE people in the world. The fact he asked me to to whether that verdict was correct or fair or represent his son when his life was on the line just. It was a very difficult time on my family. COMMAND was extremely significant. COMPLEX How so? How big was it? We were followed around constantly. No pri- COMPOSED Now everybody says Simpson, Simpson. I had vacy whatsoever for years. COACH done a lot of high-profile cases, but the Brando case was the case at the time. I became very Where do you and your family live? COGNIZANT close with Christian and very close with Marlon. I’ve lived in one house my whole life. I lived COLLABORATIVE in an apartment growing up when I was in law What was Marlon Brando like? school, then I bought a house in 1971 and I’m CONTEMPORARY He was a very, very intelligent man who wanted still in that same house. It’s in Benedict COUNSEL to know all the issues that were involved in his Canyon, near Mulholland. COURAGE COZEN son’s case. There were a tremendous amount of forensic issues dealing with the angle of the bul- That’s not very Hollywood. Why haven’t CONFIDENCE let, the degree of intoxication that was suffered, you moved? CELEBRATES O’CONNOR the psychiatric and psychological issues I like where I live. I’m very comfortable. I’ve involved, and he was extremely hands-on. remodeled the house several times. It’s on a COLLEAGUE cul-de-sac. It’s in a great area. I’m close to the CCOMMUNICATOROMMUNICATOR What’s your style in the courtroom? Valley; I’m close to the city; I’m close to my Steven Rodriguez, Trial Lawyer I try to be low-key, very respectful. I don’t yell; office. I can get to any courthouse. CCONCERNEDONCERNED I don’t scream; I don’t lose my temper. I’m very controlled. I try to relate to juries in a very, You also have been married to the same very clear and understandable way and present woman, Linell, for a long, long time. things in story form that a jury can relate to. We got married in 1970, so now she’s put up We know victory in the courtroom takes more than just That’s especially true in civil cases. Because with me 41 years. My son has his own condo, experience or strategic planning. It takes courage. many times the concepts are very complicated. but he’s a DJ and he has a studio in our house and he’s out there almost every day. Our team of trial lawyers has an uncommonly consistent record What’s the best advice you ever got? of success in all facets of litigation. Whether it’s our victorious Speak low and speak slow. Are you into music? I can’t carry a tune. My father is a professional summary judgments or disputes settled, favorable verdicts or Who told you that? piano player and my son got it from him. appeals won, we have the skill it takes to prevail. Jack Nicholson. Enjoy listening? For worldwide offices, visit us at cozen.com. Are you two friends? Yes. My favorite music is Frank Sinatra. He’s more of a social acquaintance. I represented (film producer) Bob Evans for years I hear you box in your free time. and was involved doing a lot of civil work for I train every other day. Howard D. Maycon, Office Managing Partner him and in trying to put together a movie 777 S. Figueroa Street called “The Two Jakes” (starring Nicholson). When did you get into it? Los Angeles, CA 90017 213.892.7908 | [email protected] About 25 years ago. When did he tell you that? 550 Lawyers | 24 Offices During the Simpson case. And he was repeat- Ever been scared in the ring? ing the best advice he ever got. No.

Who told him that? Never? Not once? To the best of my recollection, it was John No. Anxious, yes. If you show fear, you lose. Wayne. Why do you like boxing? What did you learn from Simpson? Boxing is very similar to being a courtroom That’s an impossible question to answer, lawyer. You’re out there alone. You have to what I learned from it. It was a trial unlike rely on yourself, you have to really be able to The conﬁdence to proceed. any other trial. There will probably never be think on your feet and think quickly. You have another trial like that, with the cast of to both be offensive and defensive. ® lawyers on both sides, the issues that were © 2010 Cozen O’Connor involved, the media coverage that was Ever fight for prize money? involved. It was just something that took No. That’s my next career, after I finish being place once in anybody’s lifetime. I don’t a civil lawyer. 6,109 3,503 2,027 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page 1,959 1,647 APRIL 11, 2011 LOS ANGELES BUSINESS JOURNAL 19

X NEXT WEEK VENTURE CAPITAL FIRMS The 20 Largest Biotech/Biomedical THE LIST Los Angeles County-based, ranked by capital under management Firms in L.A. County

X EXECUTIVE SUMMARY X THE TRENDS X THE PACESETTER

HE largest venture capital firms RP Partners tops the list of the headquartered in Los Angeles Something Ventured largest venture capital firms T County manage an aggregate of Companies in Los Angeles/Orange counties receiving venture G headquartered in Los Angeles $5.4 billion in assets. That’s up $200 capital investments. County. The Century City firm manages million from a year ago. As a group, the 250 $2,500 $1.1 billion in assets. Those assets will firms have made more than 550 invest- grow if the firm is successful in clos- ments in the lifetimes of their funds. 200 ing its fourth fund later this year. It last Venture capital activity in Southern 2,000 closed a fund of $200 million in 2008. California increased dramatically from 150 GRP is an active investor in South- 2009 to 2010, according to data pro- 1,500 ern California companies. Since its vided by the PricewaterhouseCoopers/ 100 inception in 1996, the firm has made

National Venture Capital Association Number of Deals 106 investments. 1,000 Money Tree Survey. The report showed 50 The firm has 27 portfolio companies

that companies in Los Angeles and Amount Invested (in millions) in four major areas: retail, financial Orange counties received $1.5 billion 0 500 services, digital content and online in investments last year, up 50 percent ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 ‘08 ‘09 ‘10 business services. Portfolio companies Number of Deals Amount Invested versus the prior year. More than 200 include Ad.ly, an online advertising Sisteron local companies received investments, company; mFoundry, a mobile banking with energy-related firms accounting for Favorite Targets platform; TrueCar, an online car sales data provider; and RingRevenue, a 9 percent of the total. Other major indus- Fourth quarter 2010 investments by industry in Los Angeles/Orange counties. pay-per-call service for marketing firms. tries receiving funds were consumer Energy GRP Partners typically invests $2 million to $10 million. It funds start- products, medical device manufacturing Software ups and provides secondary funding for later-stage investments. It usually and software development. Consumer Products takes a board seat on its portfolio companies. The report showed that Los Ange- Medical Device Recent investments include Wave Crest, an e-payments solution pro- les and Orange counties together were Media Retail vider, which raised $8.5 million in venture funding last year led by GRP fourth among all regions nationally with Distribution Partners. GRP made a second investment in Ad.ly, an advertising company that works with companies who advertise on Twitter. The company received only Silicon Valley, New York and New IT Services (in millions) England ranking higher. $5 million in additional funding led by GRP Partners with Greycroft Part- Financial Services – David Nusbaum ners and Matt Coffin. Telecom – David Nusbaum Biotech $0 30 60 90 120 150 Source: PricewaterhouseCoopers/Venture Economics/ National Venture Capital Association Money Tree Survey

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20 LOS ANGELES BUSINESS JOURNAL THE LIST APRIL 11, 2011

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X NEXT WEEK PRIVATE EQUITY FIRMS The 20 Largest Biotech/Biomedical THE LIST Ranked by private equity assets under management Firms in L.A. County

X EXECUTIVE SUMMARY X THE TRENDS X THE PACESETTER

HE 25 largest private equity firms AKTREE Capital Manage- headquartered in Los Angeles County Active Investors ment LP tops the list of T have $64.4 billion in combined assets Local private equity firms that invested in the most companies O the largest private equity under management. since inception. firms headquartered in Los Ange- Private equity firms raise capital from a wide les County with $14.2 billion in array of sources, including high-net-worth indi- Kayne Anderson Capital Advisors assets under management as of viduals, institutional investors, pension funds, Odyssey Dec. 31. endowments, foundations and banks. PCCP Private equity accounts for Unlike venture capital firms which invest Platinum Equity 17 percent of the company’s $82 mainly in startups, private equity firms typi- Centre Partners Management billion portfolio. Other assets cally invest in established companies, often Gores Group are invested in high-yield bonds, buying them outright. Firms typically hold Levine Leichtman Capital Partners real estate and distressed debt. companies for three to five years as they try to Caltius Capital Management The company saw overall assets turnaround a company’s finances before sell- Freeman Spogli & Co. increase by $9 billion from 2009 ing to realize a profit on the investment. Marlin Equity Partners to 2010. As the economy picked up last year, so did 0 20 40 60 80 100 120 Oaktree makes private equity activity by local firms. The firms listed made Source: Business Journal research investments through several funds. Marks just 72 investments in 2009, but that increased Its principal investment fund group is to 107 investments last year. Performance Returns the largest, with $8.6 billion in assets. The group focuses on opportunistic Brothers Tom and Alec Gores both run The average returns for U.S. private equity funds. investments through purchases of both distressed debt and private equity. It launched a European fund in 2006 that now has $3.8 billion in assets locally based funds. Alec Gores’ firm, Gores 20% Group, increased assets to $3.8 billion after and an Asian fund in 2006 that now has more than $500 million in assets. closing a new, $2 billion fund in February. The fourth area where the company makes private equity investments is Tom Gores’ Platinum Equity controls $3.45 15 energy-related infrastructure, which has $1.3 billion in assets. Each fund billion in assets. could make as many as 20 investments per year. Other firms closing funds over the past year Pension funds and corporate contributors account for two-thirds of include Pacific Coast Capital Partners LLC, 10 Oaktree’s assets. The balance comes from endowments, foundations, which focuses primarily on real estate. It has private clients, insurance companies and mutual funds. $6.3 billion, up $440 million from last year. Oaktree was founded in 1995 by Howard Marks, Bruce Karsh, Steve Since inception, firms listed have made 5 Kaplan, Larry Keele, Richard Masson and Sheldon Stone. The firm has more than 1,100 investments. approximately 600 employees and offices in 13 cities worldwide. – David Nusbaum 0 – David Nusbaum 1 year 3 year 5 year 10 year 20 year Source: Thomson Financial/National Venture Capital Association

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22 LOS ANGELES BUSINESS JOURNAL THE LIST APRIL 11, 2011

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When opportunity arises, will you be ready?

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April 11, 2011 • An Advertising Supplement to the Los Angeles Business Journal CORPORATE EXPANSION & RELOCATION

Ventura County: Business Growth to the North of Los Angeles

EOPLE often think of Ventura County Pas the scenic pass-through between Los Angeles and Santa Barbara. Yet the county also boasts a healthy billion- dollar agricultural industry and quietly has become a hotbed of growth in multiple business sectors. Ventura County was sin- gled out this year in Business Xpansion as being well suited to support activities in growing industries. What is Ventura County’s allure? For ZPower, a manufacturer of high performance rechargeable silver-zinc batteries headquartered in Camarillo, the benefits are many. “The local government’s recep- tivity to locating businesses here is very strong,” said Dr. Ross Dueber, president and CEO of ZPower. “The available talent pool—both from top-notch universities Ventura County has become a hotbed of growth in multiple business sectors. Continued on page 24

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

24 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL APRIL 11, 2011

CORPORATE EXPANSION & RELOCATION

Continued from page 23 ply chain infrastructure,” said Dueber. modate small-winged planes, with Camar- business development. It’s not every port “We have the right type of manufacturing illo and Oxnard handling corporate jets. where we would be recognized as a priori- and the general workforce—is very benefi- support and services companies available Plus, LAX, Burbank and Santa Barbara air- ty. That’s important to us and our cus- cial. It’s an ideal area for light manufactur- to us here in Ventura County.” ports are only about 45 minutes away.” tomers. Ventura County is friendlier than ing and R&D. We’ve had great success fill- Distribution channels are also strong in most places where I’ve done business— ing positions, both skilled and the county. “U.S. 101 gives busi- Combines sense of community not just in California but in the world.” professional.” nesses convenient access to Los with global commerce Wolfgang Bullmer, CEO of Transonic Expansion & Nearly 30 percent of the Ven- Angeles and points north,” said Wallenius Wilhelmsen Logistics in Port Combustion, a company specializing in Relocation tura County workforce has bach- Steve Kinney, president, Econom- Hueneme annually processes three mil- ultra-high-efficiency fuel injection tech- Spotlight elor’s degrees or higher and 82 ic Development Corporation of lion cars and rolling equipment world- nology for internal combustion engines, percent hold high school diplo- Oxnard. “Highways 118 and 126 wide, servicing key customers Mitsubishi, said that Camarillo is an ideal location for mas, according to the American Commu- link to Interstate 5 and Metrolink and Suzuki, Land Rover, Maserati, Jaguar and his business. Not only is it “outside the nity Survey. Amtrak serve commuters from six stations Volvo from the port. hustle and bustle of Los Angeles while still Dueber also noted that for a precision in the region. The Port of Hueneme is a “Ventura County and Port Hueneme able to draw upon the rich pool of engi- product manufacturer such as ZPower, deep-water ‘break-bulk’ facility with for- welcomed the type of roll-on, roll-off busi- neering talent in the area,” but Ventura there is an abundance of specialty suppli- eign trade zone status. Airports in Camar- ness that is central to Wallenius’ busi- County is “10 hours from Europe and 10 ers in the area. “I’m pleased with the sup- illo, Oxnard and Santa Paula can accom- ness,” said Jerry Mahoney, director of hours from Asia, mid-way between our key clients.” Bullmer believes that “living and working here are hard to beat.” Not surprising for a region known for its protection of open space, Ventura County attracts emerging green businesses that promote sustainability. One such company is Solarsilicon Recycling Ser- vices, the world leader in processing silicon waste for use by the solar industry. “Most of our sales are overseas,” said Rob Bushman, CEO and founder. “We could move somewhere else and get great incen- Local expertise, tive packages, but I don’t want to live anywhere else. Quality of life is everything, global strength. and Ventura County offers that.”

DEXUS is a leading global real estate group with a corporate history of over 25 years and more than $13 billion of ‘Most of our sales are properties under management. overseas. We could In the US, we own, manage and develop 98 high quality move somewhere else industrial properties valued at more than $1.3 billion with and get great incentive a vision to be a market leader in the Southern California, packages, but I don’t Bay Area and Seattle markets. want to live anywhere DEXUS offers world class integrated capabilities. We provide else. Quality of life all the beneﬁts of a dedicated local team of highly experienced is everything, and real estate experts backed by the ﬁnancial strength and track Ventura County record of a global real estate group. offers that.’ For property acquisitions and leasing contact Bryan Bentrott ROB BUSHMAN, Solarsilicon on (949) 655-8226 or [email protected] Recycling Services

For development opportunities contact Bruce McDonald on (949) 655-8227 or [email protected]

Solarsilicon Recycling Services currently employs about 70 workers; Bushman expects the number to reach 100 by the end of the year. The company is moving from Camarillo to larger facilities in Ven- tura this spring. “All of our talent is here in Ventura County. We have very low turnover. We take care of our workers and our workers take care of the company.” Ventura County’s 10 key cities are Camarillo, Fillmore, Moorpark, Ojai, Oxnard, Port Hueneme, Thousand Oaks, Santa Paula, Simi Valley and Ventura. “Each of these cities is attractive to businesses in its own way,” said Kinney, “The ability to locate a business in an area where employees can function with less stress, enjoy a higher standard of living, reduce commute times, and yet has all the business tools and resources to excel pro- fessionally is an enormous strategic advantage.”

For more information about locating a business in Ventura County and direct links to county and city contacts, go to www.venturacountygrowsbusiness.com or look for Ventura County Grow Business on Facebook. Visit www.dexus.com/us 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

APRIL 11, 2011 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL 25

CORPORATE EXPANSION & RELOCATION

Getting the Finance and Technology Help Needed

By FRANCES MORENO and STEPHEN SMITH market when in previous years their head- dates previously overlooked are currently region. Now is the time for companies to count was frozen as were consulting bud- adding tremendous value to companies start planning how to get the best help. VER the past several months, Vaco gets. To find good employees this year willing to bring them aboard. OLos Angeles LLC has seen increased and beyond, hiring managers no longer We have also noticed that the “con- Frances Moreno and Stephen Smith are part- requests for recruiting the right shy away from candidates who they per- tract-to-hire” method to filling open posi- ners of Vaco Los Angeles LLC, a Los Angeles- finance, accounting and technology pro- ceive to be overqualified, fearing that the tions is gaining popularity among many based resource company specializing in con- fessionals for a wide array of special pro- candidate would likely entertain another of our clients who often view that option tract and direct hire resources for accounting, jects and new full time openings. The opportunity with a more suitable title as an extended working interview. Many finance, tax, audit and technology profession- uptick in demand for hiring specialized when the market turns. The market is clients not only need talent quickly, but als. Vaco was named #1 Best Place to Work skill sets in our marketplace signifies an turning so slowly and the circumstances also need the professional to potentially in its industry in 2009 and 2010 and was expectation of corporate growth and surrounding each candidate have become consider staying to fill open head count recently ranked #15 of 100 Fastest Growing expansion. From start-up companies to so unique (e.g., a quest for work/life bal- beyond the contract period. At Vaco, we Privately Held Companies by Los Angeles internet firms, service providers to pub- ance, financial situation, desired career are pleased to see the positive hiring Business Journal. More information on Vaco licly traded companies, growing organiza- path, willingness to learn a new industry, trends coming back to Los Angeles in sup- can be found at www.vaco.com/los-angeles or tions are calling us to assist them in iden- etc.), many have learned that some candi- port of expansion and growth in our by calling (310) 693-0490. tifying consultants and employees for special projects and to fill open positions. Whether for organic internal growth, or to support a merger or acquisition, hiring is slowly on the rise across several key Voted Best Place to Buy Online industries such as: entertainment; hospi- 7 Years in a Row! -Shopper’s Choice Award tality; retail; and manufacturing. Because the economy shows positive signs of recovery, business-savvy managers are LET US DO THE HARD WORK OF FINDING now taking certain measures to ensure they acquire the best help available and THE RIGHT PRODUCTS FOR YOUR BUSINESS... are not caught short staffed. The hiring demand follows a pre- dictable pattern through an economic So you can concentrate on recession and recovery. During a downturn, a severe risk to any growth strategy is excessive overhead, and initially, all hir- what you do best - ing seems to come to a screeching halt. Eventually, management opts for bringing in contract/temporary professional services rather than having the overhead of adding full-time employees. The consulting professionals most frequently Business customers have unique needs and requirements in order to do business. We at NeweggBusiness engaged for strategic projects are those at the manager and director levels. This reas- understand this. When you open a NeweggBusiness account we help you consolidate and minimize your business spending. 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With stock availability you www.neweggbusiness.com/Sweepstakes firmly in place and results begin to mate- are able to see the exact quantity we have in stock. rialize, manager, director and executive- level full-time hiring takes place in order to eventually transition out the project consultants who have worked on the www.neweggbusiness.com interim basis. Those senior-level project consultants are then redeployed to organizations for special strategic initiatives to We Make IT Simple support corporate growth as economic conditions continue improving. Many expanding businesses partnering with us are willing to take a fresh look at ® Follow us on: sourcing candidates in 2011. This means ONCE YOU KNOW, YOU NEWEGG. corporations are expanding in today’s ©2000-2011 Newegg Inc. All rights reserved. Pricing and Availability: Sweepstakes valid from 4/11/11 through 5/16/11. Please see www.neweggbusiness/sweepstakes for contest details. Prices, availability and terms of offers may change without notice. Newegg is not responsible for pricing or other errors and reserves the right to cancel orders arising from such errors. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

26 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL APRIL 11, 2011

CORPORATE EXPANSION & RELOCATION DEXUS Property Group: Blending Local Expertise with Global Strength

By BRIAN BENTROTT Beach, Calif. In June 2010, DEXUS DEXUS Property Group expanded with the recruitment of the N June 2010, DEXUS Property Group Offices in Newport Beach Master Development Corporation (MDC) announced the opening of a new US team. Adding eight people, this transition Imanagement office in Newport Beach, immediately brought extensive local the expansion of its US management team industrial real estate management, acquisi- and strategic plans to redeploy more than tion and construction expertise and expe- $600 million in US industrial real estate rience to the DEXUS platform. assets to core west coast markets. The Newport Beach office now operates The vision: to become a market leader in with 17 real estate professionals who are industrial real estate primarily in Southern managing and accounting for $1.6 billion California, the Bay Area and Seattle, offer- in real estate assets. ing clients more than 25 years of corporate expertise backed by the strength of a global Acquisition and asset accomplishments organization with total With a vision to become a leading Real Estate properties under man- industrial real estate player on the west Leadership agement of more than coast, DEXUS has already made major Spotlight $13 billion. strides in the span of only nine months. Less than a year The Group has made a series of initial later, DEXUS is already acquisitions and internalized portfolio delivering on this vision in the US. management activities in its core markets. Today the Group owns 98 industrial On the acquisition front, the company properties in North America totalling 25 made its first Southern California purchase million square feet and valued at more in October 2010 when it acquired a than $1.3 billion. In addition, DEXUS now 157,329-square-foot multi-tenant industri- manages over $300 million in third party company recently charted a new course in strategy solidifies the Group’s long-term al property in the City of Industry for assets in Southern California. the US to concentrate assets in key mar- commitment to the US and enables approximately $14.4 million. Shortly kets to maximize the portfolio’s value and DEXUS to achieve a critical mass of prop- thereafter, DEXUS completed its second Local expertise, global strength performance, as well as to best serve the erty in each market to best service the deal in the region with the acquisition of a In the US since 2004, DEXUS is one of industrial real estate needs of clients. needs of clients and investors. 278,000-square-foot Living Spaces retail the world’s leading real estate groups The DEXUS journey in the US is driven As part of its commitment to this strat- and warehouse building in La Mirada for headquartered and publicly traded in Aus- by a focused management and investment egy, DEXUS appointed a Head of US $26.25 million in January 2011. Both tralia. Mirroring a strategic approach that strategy based on concentrating efforts Investments, Jane Lloyd in February 2010 acquisitions dovetail with the company’s has proven successful in Australia, the into three west coast core markets. This and opened a local office in Newport emphasis on strengthening its market

Offering everything businesses need and everything employees want. The new perk: Quality of Life.

venturacountygrowsbusiness.com

Live here.

Work here. Or vice versa! 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

APRIL 11, 2011 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL 27

CORPORATE EXPANSION & RELOCATION

DEXUS Commerce Center at 9370 Buffalo Ave. in Rancho Cucamonga

leadership in Southern California. World class, integrated services enable DEXUS to provide clients the com- and land for development. Also in January, DEXUS completed its DEXUS offers world class comprehen- plete range of industrial real estate services With the ability to offer the best in planned management internalization strat- sive, integrated expertise and experience — all under one platform. local expertise and global strength, DEXUS egy for its industrial properties in the West to own, manage, develop, build and ser- is fast evolving as an industrial real estate Coast, a process which had begun in vice world class industrial real estate. Moving forward leader on the US west coast. August 2010. As part of this, the Group In addition to the Group’s acquisition As DEXUS approaches its first full year assumed management responsibility for and asset internalization activities, DEXUS at its new Newport Beach headquarters, Bryan Bentrott is Managing Director, Acquisi- more than $700 million in properties is also active as a third-party developer. the Group is poised to carry forward its tions & Leasing with DEXUS in the US. Con- totalling more than 10.7 million square feet This includes offering their experience and strategic growth initiative and long-term tact Bryan at (949) 655-8226 or at of industrial space. Since then, DEXUS has capabilities to deliver build-to-suits with investment approach. The company con- [email protected]. For more informa- taken occupancy rates from 86 to 95 per- an emphasis on LEED design and sustain- tinues to proactively seek out high quality tion on DEXUS in the US, visit cent through an active, hands-on leasing able building features. prospects for leased core assets, sale/lease www.dexus.com/us. effort in conjunction with its listed brokers. Combined, these integrated capabilities backs, value-add/vacancy opportunities 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

28 LOS ANGELES BUSINESS JOURNAL DATA BANK APRIL 11, 2011

CONVENTIONS Speed Networking CALENDAR Saturday, April 16 Sponsor: Santa Monica Chamber of Commerce Sustainability Ethics 5:30 p.m. • Stadia Design & Technology Expo Tuesday, April 12 Sponsor: UCLA Extension UCLA Family Commons April 12-14 1221 Second St., Santa Monica Proposition 13 8:30 a.m. 011-44-1306-743744 $25 Sponsor: Beverly Hills Bar Association Extension Lindbrook Center (310) 393-9825 11:45 a.m. 10920 Lindbrook Drive, Westwood Latinos for Hire Job Fair $385 • Lawry’s the Prime Rib April 13 (310) 825-7885 Wednesday, April 27 100 N. La Cienega Blvd., Beverly Hills (888) 550-3777 $105 Networking Breakfast (310) 601-2422 Tuesday, April 19 Sponsor: Greater San Fernando Valley Building Brand Relevance Chamber of Commerce • Abilities Expo Sales and Marketing Sponsor: Challenger Networking Group 7:15 a.m. April 15-17 Sponsor: VEDC Noon Braemar Country Club (310) 450-8831, ext. 130 4 p.m. Zen Buffet 4001 Reseda Blvd., Tarzana 5121 Van Nuys Blvd., Van Nuys 21610 Victory Blvd., Woodland Hills $30 Go Green Expo (818) 989-0300 • Free $11 lunch April 15-17 (818) 907-9922 (818) 992-4270 (212) 655-4505, ext. 226 After Hours Mixer Wednesday, April 13 Wednesday, April 20 Sponsor: Alhambra Chamber of Commerce 5:30 p.m. • Showbiz Expo Does Redevelopment Have a Future? Small Business Conference Bob Wondries Ford May 7 Sponsor: County of Los Angeles Workforce Sponsor: Commercial Real Estate Women-LA 400 S. Atlantics Blvd., Alhambra (212) 404-2345 11:30 a.m. Investment Board $15 Millennium Biltmore Hotel 8:30 a.m. (626) 282-8481 International Glass Show 506 S. Grand Ave., downtown Los Angeles Sheraton Hotel • May 20-22 $65 12725 Center Court Drive, Cerritos Networking Mixer (800) 449-9050 (818) 497-3968 Free Sponsor: West Hollywood Chamber of Commerce (562) 946-2237, ext. 311 6 p.m. Networking Mixer And Co. • Everything to Do With Sex Show Sponsor: Long Beach Area Chamber of Commerce Saturday, April 23 8240 W. Sunset Blvd., West Hollywood May 20-22 5:30 p.m. Structuring Partnerships $20 (905) 738-7848 Panama Joe’s Sponsor: Dynamics Capital Group (323) 650-2688 5100 E. Second St., Long Beach 7:45 a.m. American Diabetes Association Expo $10 (RSVP required) Luxe Hotel Thursday, April 28 • May 21 (562) 426 1521 14461 Sunset Blvd., Brentwood Networking at Night (800) 342-2383, ext. 7503 $249 Sponsor: Greater San Fernando Valley Chamber of Thursday, April 14 (310) 471-0650 Commerce Dwell on Design Mixer N’ Stuff 5:30 p.m. • Tuesday, April 26 June 25-26 Sponsor: Santa Fe Springs Chamber of Commerce Beverly Garland’s Holiday Inn www.DwellonDesign.com 5 p.m. Product Development 4222 Vineland Ave., North Hollywood Santa Fe Springs Library Sponsor: VEDC $15 10555 E. Firestone Blvd., Norwalk 4 p.m. (818) 989-0300 • Anime Expo Free 5121 Van Nuys Blvd., Van Nuys July 1-4 (562) 944-1616 $10 www.Anime-Expo.org (818) 907-9922 To be considered for publication, Calendar listings should be submitted at least three weeks in advance Networking Mixer Mix and Mingle California Gift Show Sponsor: Sherman Oaks Chamber of Commerce of the event. Listings can be submitted by e-mail to • Sponsor: thinkLA July 22-25 6:30 p.m. 5:30 p.m. [email protected] or by mail to: (800) 526-2784 Basement Tavern Mad Bull’s Tavern Los Angeles Business Journal 2640 Main St., Santa Monica 14649 Ventura Blvd., Sherman Oaks Calendar Free $15 5700 Wilshire Blvd. #170 (310) 823-7320 (818) 906-1951 Los Angeles, CA 90036 L.A. Convention Center, (213) 741-1151, ext. 5340

A&S Business Consultants Inc. Elm Street Partners LLC Hanchen Inc. Assets: N/A BANKRUPTCIES (Business type N/A) (Business type N/A) (Business type N/A) Debts: N/A 23371 Mulholland Drive, #247 415 Seventh St. 19223 E. Colima Road, #758 Doc# SV11-12663-MT Almuizz Inc. Woodland Hills 91364 Santa Monica 90402 Rowland Heights 91748 File-Date: 03/03/11 DBA: Metropolis Chapter: 7 Chapter: 11 Chapter: 7 Lynne Romano (Business type N/A) Assets: $165,000 Assets: N/A Assets: $504 626-552-0270 4850 Louise Ave. Debts: $105,213 Debts: N/A Debts: $102,528 Encino 91316 Doc# SV11-12655-MT Doc# LA11-20225-PC Doc# LA11-19262-PC MerMain LLC Chapter: 7 File-Date: 03/03/11 File-Date: 03/09/11 File-Date: 03/03/11 (Business type N/A) Assets: $245 Pro-per. James Selth Michael Y. Lo 2800 W. Main St. Debts: $1,295,903 310-207-1494 626-289-8838 Alhambra 91801 Doc# SV11-12604-MT Encino Ave Properties Inc. Chapter: 7 File-Date: 03/02/11 Cirque Berzerk Theatrical Productions LLC (Investment) Advanced Magnetic Components Ltd. Assets: N/A David Hagen (Theatrical productions) AKA: AMC Ltd. Debts: N/A 818-990-4416 4926 Encino Ave. 5850 W. Third St., Ste. #219 Encino 91316 (Electronic equipment/supplies) Doc# LA11-19335-AA L.A. 90036 File-Date: 03/04/11 Benji & Associates Inc. Chapter: 7 Chapter: 7 868 Falcon View St. (Business type N/A) Assets: N/A Upland 91786 Carlo O. Reyes Assets: $0 818-883-8838 23679 Calabasas Road, #738 Debts: N/A Debts: $626,490 Chapter: 7 Calabasas 91302 Doc# SV11-12656-MT Assets: N/A Doc# LA11-19228-TD Fair Winds Flagship Fund LP Chapter: 7 File-Date: 03/03/11 File-Date: 03/03/11 Debts: N/A (Single-asset real estate) Assets: $247 Pro-per. Robert K. Lee Doc# RS11-17042-SC 1901 Avenue of the Stars, Ste. #1020 Debts: $205,844 213-384-6900 File-Date: 03/03/11 L.A. 90067 Doc# SV11-12608-GM MAM Wealth Management Real Estate Joy Dhokia Chapter: 7 File-Date: 03/02/11 Fund 1 LP JCMT Corp. 562-809-5858 Assets: $2,314 David Hagen (Business type N/A) DBA: Mi Jo Ri; Mi Na To 818-990-4416 Debts: $876,252 11400 W. Olympic Blvd., Ste. #1510 (Business type N/A) Encino Leaf Investments Inc. 4163 W. Third St. (Investment) Doc# LA11-19343-TD 5431 Topeka Inc. L.A. 90064 L.A. 90020 18034 Ventura Blvd., Ste. #418 File-Date: 03/04/11 (Investment) Chapter: 11 Chapter: 7 Encino 91316 Benjamin Nachimson 5431 Topeka Drive Assets: N/A 310-473-5550 Tarzana 91356 Debts: N/A Assets: $0 Chapter: 7 Chapter: 7 Doc# LA11-19976-BR Debts: $77,023 Assets: N/A File-Date: 03/08/11 Doc# LA11-19230-BR Debts: N/A M. Jonathan Hayes File-Date: 03/03/11 Bankruptcy information is supplied by Timely Info of Los Angeles, Jack Vaughn (323) 664-4423. Gene W. Choe Chapter 7: a “straight” liquidation bankruptcy involving an appointed trustee to sell all assets by Doc# SV11-12612-GM 818-882-5600 213-639-3888 auction or other means to pay creditors and trustee fees. File-Date: 03/02/11 Chapter 11: a process which allows a business to gain temporary relief from paying debt in order to Pro-per. LAX LLC E&D Transport Inc. attempt a successful reorganization. The debtor remains in control of the business during the bank- (Business type N/A) ruptcy and the business continues to function. Conejo View Properties Inc. (Cargo transport) 6066 Reseda Blvd. Chapter 13: a bankruptcy plan available to individuals whose “income is sufficiently stable and reg- 741 W. 24th St., Ste. #17 21 Sandstone Way Tarzana 91356 Azusa 91702 ular to enable such individual to make payments under a plan.” The debtor makes payments to a San Pedro 90731 trustee who disburses the funds to creditors. Chapter: 7 Chapter: 11 Chapter: 7 Assets: N/A Assets: N/A Assets: $0 Involuntary bankruptcy: the debtor is forced into bankruptcy by secured creditors whose claims Debts: N/A Debts: N/A Debts: $90,427 total at least $220,000. Involuntary bankruptcy may be filed under Chapter 7 or 11. Doc# LA11-19112-BR Doc# SV11-12878-VK Doc#LA11-19248-TD AKA: also known as FKA: formerly known as File-Date: 03/03/11 File-Date: 03/08/11 File-Date: 03/03/11 DBA: doing business as FAW: formerly associated with Pro-per. Raymond H. Aver Ricardo A. Figueroa FDBA: formerly doing business as (Investment) 310-473-3511 909-395-9200 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

APRIL 11, 2011 INVESTMENTS & FINANCE LOS ANGELES BUSINESS JOURNAL 29

ECONOWATCH L.A.COUNTY

%± from GENERAL INDICATORS Latest Previous previous Year %± from period period period ago year ago Employment (000’s) (Feb.)1 ...... 4,286.4 4,270.7 +0.4% 4,270.5 +0.4% Unemployment (000’s) (Feb.)1 ...... 599.6 644.3 -6.9% 605.9 -1.0% Film Production Days (4th qtr.)2...... 11,712 9,713 +20.6% 9,294 +26.0% Doing Business Bankruptcies Chapter 7 (Feb.) ...... 3,157 2,980 +5.9% 2,909 +8.5% Chapter 11 (Feb.) ...... 47 49 -4.1% 33 +42.4% in Asia-Pacifi c Trade3 Exports (mils.) (Jan.) ...... $9,025.0 $10,100.3 -10.6% $7,482.6 +20.6% Imports (mils.) (Jan.)...... $26,591.0 $21,343.6 +24.6% $17,496.0 +52.0% In recent decades, the Asian and Pacific Rim countries have emerged as Air cargo4 a powerful force in the global economy. The region’s economic growth LAX (Feb.) ...... 135.5 145.1 -6.6% 142.0 -4.6% is led not only by Japan but also by the “little dragons” of Singapore, Burbank (Jan.) ...... 6.9 9.7 -28.9% 6.9 0.0% Hong Kong, South Korea, and Taiwan. These emerging markets have Container volume5 (000’s) experienced major economic change and growth, to now become an Long Beach (Feb.) ...... 458.3 475.0 -3.5% 413.1 +10.9 economically integrated trade region. The growing importance of the Los Angeles (Feb.) ...... 554.9 660.5 -16.0% 525.5 +5.6% Pacific Rim has created opportunities, and business challenges for U.S. Los Angeles CPI (Feb.) ...... 229.7 228.7 +0.4% 224.6 +2.3% importers and exporters. Join HSBC Bank and the Los Angeles Business Journal for a panel %± from discussion on doing business throughout Asia-Pacifi c. REAL ESTATE Latest Previous previous Year %± from period period period ago year ago This Business without Borders seminar is an opportunity to provide you Construction lending (mils.) (Feb.) ...... $92.8 $115.7 -19.8% $119.9 -22.6% with HSBC’s innovative thinking and informed point-of-view on the Asia- Property acquisition lending (mils.)6 (Feb.) ...... $1,287.9 $1,334.6 -3.5% $1,364.0 -5.6% Pacific – to help you conduct business more efficiently and effectively. Refinance lending (mils.) (Feb.)7 ...... $4,747.2 $5,987.1 -20.7% $3,272.9 +45.0% Foreclosures Number (Feb.) ...... 2,327 2,568 -9.4% 2,463 -5.5% Value (mils.) (Feb.) ...... $767.3 $1,002.1 -23.4% $814.7 -5.8% Building contracts (mils.) THURSDAY, May 5, 2011 Residential (Jan.) ...... $114.8 $131.5 -12.7% $129.1 -11.1% Millennium Biltmore Hotel, Emerald Ballroom Nonresidential (Jan.) ...... $68.5 $122.8 -44.2% $114.7 -40.3% Building permits (mils.) 506 S. Grand Ave, Los Angeles, CA 90071 Residential (Jan.) ...... $177.0 $275.2 -35.7% $170.3 +3.9% 7:30 AM - 9:30 AM Nonresidential (Jan.) ...... $195.7 $287.2 -31.9% $169.0 +15.8% Housing start permits (Jan.) ...... 292 864 -66.2% 306 -4.6% Tickets are $55 per person and include breakfast. Home sales (Mar.) ...... 4,258 3,371 +26.3% 4,849 -12.2% Home prices (000’s) (Mar.) ...... 330 325 +1.5% 340 -2.9% Condo sales (Mar.) ...... 1,746 1,308 +33.5% 1,777 -1.7% Condo prices (000’s) (Mar.) ...... 300 270 +11.1% 300 0.0% Moderator: Apartments (4th qtr.) DAVE MACDONALD Gross occupancy ...... 93.8% 93.9% -0.1% 94.1% -0.3% Head of Corporate Banking, North America Avg. sq. ft. rent ...... $1.86 $1.90 -2.1% $1.87 -0.05% and Head of Los Angeles Regional Office, Avg. monthly rent ...... $1,609 $1,606 +0.2% $1,564 +2.9% HSBC Bank, USA, N.A. Office vacancy rates (4th qtr.) Downtown Los Angeles ...... 16.0% 0.0% 16.0% 14.0% +14.3% San Fernando Valley ...... 18.0% 18.5% -2.7% 17.7% +1.7% West L.A...... 16.4% 15.6% +5.1% 15.3% +7.2% Panelists: South Bay ...... 19.0% 19.0% 0.0% 17.7% +7.3% CESAR ARELLANES JOHN DREW Countywide ...... 17.0% 17.0% 0.0% 16.0% +6.3% Program Manager, Long Beach SVP Global Markets Advisor, International Trade Office and Center HSBC Bank USA, N.A. Industrial vacancy rates (4th qtr.) for International Trade Development Downtown/Central ...... 2.3% 2.5% -8.0% 2.8% -17.9% South Bay ...... 3.2% 3.0% +6.7% 2.4% +33.3% CHRIS KNORR ROBIN PARK, J.D., LL.M. San Gabriel Valley ...... 3.6% 3.7% -2.7% 4.3% -16.3% SVP, Regional Sales Manager Senior Tax Manager, International West Coast and Texas, Global Tax Services, BDO USA, LLP Payments and Cash Management, %± from HSBC Bank USA, N.A. TOURISM Latest Previous previous Year %± from month month month ago year ago Hotel occupancy rate (Jan.) ...... 70.2% 60.9% +15.3% 67.0% +4.8% Room rate (Jan.)...... $147.0 $134.6 +9.2% $146.1 +0.6% Passengers REGISTER TODAY: LAX (000’s) (Feb.) ...... 4,121.5 4,664.2 -11.6% 3,960.5 +4.1% Burbank Airport (000’s) (Jan.) ...... 341.0 368.3 -7.4% 354.0 -3.7% www.labusinessjournal.com/bizevents For more information, contact Marissa De La Cruz at (323) 549-5225 ext. 213 FOOTNOTES or e-mail [email protected]. Sorry, there are no refunds. 1. Not seasonally adjusted. 5. 20-foot equivalent unit. 2. Music, television, film and commercials quarterly. 6. Apartment and residential combined 3. Through Los Angeles Customs District. 7. Includes refinancings, second mortgages and equity mortgages 4. In thousands of tons.

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

30 LOS ANGELES BUSINESS JOURNAL INVESTMENTS & FINANCE APRIL 11, 2011

THE LABJ STOCK INDEX TRACKING LOS ANGELES-AREA COMPANIES X MARKET DIARY X WEEKLY TOP GAINERS A quiet stretch for the stock markets left the major indexes mostly flat during the week ended April 6. The market was TOP TEN GAINERS BY PERCENTAGE (with closing prices at least $1) lifted only by a late surge in tech stocks. None of the indexes moved more than 1 percent. The LABJ Index fell 0.5 per- April 6 March 30 Price 1-Wk 52-Wk YTD cent despite advances from 117 of 200 stocks. U.S. China Mining Group Inc., a City of Industry company that operates Company Close Close Change % Chg. % Chg. % Chg. coal mines in China, was the biggest loser despite reporting a rise in annual income. Shares fell 21 percent during the Enova Systems Inc ...... $1.19 $0.90 $0.29 31.8% -24.5% -7.5% week to $3.01. A rough week for AeroVironment Inc. brought the company’s shares down more than 13 percent to Tix Corp ...... 1.75 1.34 0.41 30.6% 41.1% 41.1% $30.11. The Monrovia maker of unmanned aerial vehicles was downgraded by an analyst after one of its experimental Joe's Jeans Inc ...... 1.14 0.93 0.21 22.6% -65.9% -26.7% drones apparently crashed during military testing. Enova Systems Inc., which makes hybrid electric drive systems, AML Communications Inc...... 2.50 2.11 0.39 18.5% 100.0% 86.6% was the top gainer after reporting a sharp rise in quarterly and annual sales. Shares of the Torrance company surged Preferred Bank ...... 1.63 1.47 0.16 10.9% 8.0% -7.4% nearly 32 percent to $1.19. Scope Industries...... 200.00 181.00 19.00 10.5% 56.6% 55.0% ValueClick Inc ...... 15.82 14.50 1.32 9.1% 55.9% -1.3% X MARKET INDEXES Farmer Bros Co...... 13.10 12.09 1.01 8.4% -31.0% -26.4% BNK Petroleum Inc ...... 5.19 4.80 0.40 8.3% 75.4% 46.5% April 6 March 30 Point 1-Wk 52-Wk YTD Capstone Turbine Corp ...... 2.02 1.87 0.15 8.0% 54.2% 110.5% Index Close Close Change % Chg. % Chg. % Chg. X WEEKLY TOP LOSERS Dow Jones Industrial ...... 12,426.75 12,350.61 76.14 0.6% 13.3% 7.3% NASDAQ ...... 2,799.82 2,776.79 23.03 0.8% 14.9% 5.5% TOP TEN LOSERS BY PERCENTAGE (with opening prices at least $1) S&P 500 ...... 1,335.54 1,328.26 7.28 0.5% 12.3% 6.2% April 6 March 30 Price 1-Wk 52-Wk YTD LABJ Index ...... 142.27 143.04 -0.77 -0.5% 8.9% 4.8% Company Close Close Change % Chg. % Chg. % Chg.

X INDUSTRY ANALYSIS U.S. China Mining Group Inc ...... $3.01 $3.81 -$0.80 -21.0% -71.2% -52.7% Aerovironment Inc ...... 30.11 34.76 -4.65 -13.4% 19.6% 12.2% April 6 March 30 Point 1-Wk 52-Wk YTD SearchMedia Holdings Ltd...... 1.56 1.78 -0.22 -12.4% -64.2% -49.8% Index Close Close Change % Chg. % Chg. % Chg. ReachLocal Inc ...... 18.52 20.76 -2.24 -10.8% NA -7.0% Bidz.com Inc ...... 1.36 1.52 -0.16 -10.5% -35.2% 12.1% AEROSPACE/DEFENSE ...... 203.77 221.90 -18.13 -8.2% -4.5% -1.5% General Finance Corp ...... 3.15 3.50 -0.35 -10.0% 136.8% 59.1% APPAREL ...... 108.44 107.45 0.99 0.9% -24.8% -11.8% Cereplast Inc...... 4.74 5.21 -0.47 -9.0% 2.2% 14.5% AUTOMOTIVE/PLASTICS/METALS ...... 349.41 346.36 3.05 0.9% 18.9% 15.2% Response Genetics Inc ...... 2.05 2.24 -0.19 -8.5% 2.5% -17.3% Colony Financial Inc ...... 18.64 20.17 -1.53 -7.6% -6.8% -6.9% BIOMEDICAL/PHARMACEUTICAL...... 77.10 76.92 0.18 0.2% -12.2% -3.9% Power-One Inc ...... 8.29 8.93 -0.64 -7.2% 99.3% -18.7% COMPUTERS/PERIPHERALS/ELECTRONICS . . .22.61 22.60 0.00 0.0% 37.1% 3.2% CONSTRUCTION/ENGINEERING ...... 280.89 277.88 3.01 1.1% 5.3% 4.0% X MARKET SUMMARY ENERGY/UTILITIES...... 458.53 467.84 -9.31 -2.0% 13.4% 2.7% MOST ACTIVE STOCKS WEEKLY SUMMARY FINANCIAL SERVICES...... 167.02 158.53 8.49 5.4% 11.7% 3.4% HEALTH CARE...... 492.20 494.60 -2.40 -0.5% 31.7% 17.5% TOP TEN STOCKS VOLUME Advances ...... 117 Declines...... 64 INSURANCE ...... 143.97 141.85 2.11 1.5% -2.9% 0.5% Activision Blizzard Inc ...... 41,559,560 Unchanged ...... 19 INTERNET ...... 116.37 114.45 1.91 1.7% 27.0% 0.2% Walt Disney Co...... 37,946,441 New Highs ...... 20 MEDIA/LEISURE/ENTERTAINMENT ...... 97.16 98.32 -1.16 -1.2% 9.0% 11.3% KB Home...... 31,910,976 New Lows ...... 7 Capstone Turbine Corp ...... 30,793,265 MANUFACTURING ...... 141.30 138.74 2.56 1.8% 6.4% -1.3% NOTES ON STOCK TABLES MISC. SERVICES ...... 174.08 166.00 8.08 4.9% 30.6% 2.6% Sionix Corp ...... 28,992,933 Amgen Inc...... 27,168,492 REAL ESTATE ...... 600.77 595.18 5.58 0.9% 39.4% 12.7% Tables based on March 30 - April 6 DirecTV ...... 22,347,136 RESTAURANTS/RETAIL/GROCERY STORES. . .192.38 190.42 1.96 1.0% 10.6% 5.3% Power-One Inc ...... 19,144,179 (H) Stock hit new 52-week high SOFTWARE ...... 659.24 638.13 21.10 3.3% -12.1% -10.8% Occidental Petroleum Corp ...... 17,256,783 (L) Stock hit new 52-week low Mattel Inc ...... 16,575,098 (S) Stock split during week Investment Banking and Financial Duff & Phelps is a national investment banking and financial advisory firm focused on providing merger and acquisition, private placement, valuation, financial opinion and restruc- Advisory Services Since 1932 turing services. Since 1932, Duff & Phelps has been committed to delivering independent advice and service of exceptional quality to a broad range of public and private companies. All stock data is provided by Duff & Phelps from sources deemed reliable. No recommendation is intended or implied. The firm can be contacted at (310) 689-0070.

Los Angeles Business Journal’s WOMEN MAKING A DIFFERENCE Honoring L.A.’s most successful women business leaders.

The Los Angeles Business Journal is proud to honor women of outstanding achievement in our business community. In its 19th year, this annual awards event will recognize L.A.’s most successful women business leaders. We invite you to nominate an associate, client, co-worker or acquaintance that you believe is an outstanding candidate.

Award Categories: To nominate or for more information please visit • Business Owner/ CEO of the Year www.labusinessjournal.com/bizevents or contact • Executive of the Year Marissa De La Cruz at [email protected] • Philanthropist of the Year Nomination Deadline: • Rising Star of the Year Friday, April 15, 2011 • Volunteer of the Year Advertising Supplement: May 23, 2011

PRESENTING SPONSOR: GOLD SPONSORS: Moss Adams LLP Wedbush Bank Wells Fargo Bank 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

APRIL 11, 2011 INVESTMENTS & FINANCE LOS ANGELES BUSINESS JOURNAL 31

S TOP GAINERS T TOP LOSERS THE LABJ STOCK INDEX TRACKING LOS ANGELES-AREA COMPANIES April 6 1-Wk YTD 52-Wk P.E. Mkt. Cap April 6 1-Wk YTD 52-Wk P.E. Mkt. Cap Company Ticker Close % Chg % Chg % Chg Ratio (millions) Company Ticker Close % Chg % Chg % Chg Ratio (millions)

AEROSPACE/DEFENSE Imaging3 Inc IMGG $0.11 -16.9% -27.5% -85.6% NA $42.2 T Aerovironment Inc (H) AVAV $30.11 -13.4% 12.2% 19.6% 27.9 $659.3 InstaCare Corp ISCR 0.05 -10.7% 0.0% -51.5% NA 5.0 S AML Communications Inc (H) AMLJ 2.50 18.5% 86.6% 100.0% 22.7 26.8 IPC The Hospitalist Co Inc (H) IPCM 47.20 5.6% 21.0% 31.7% 32.1 770.4 Ducommun Inc (H) DCO 25.49 6.3% 17.0% 16.4% 15.2 268.4 Molina Healthcare Inc (H) MOH 39.85 -0.7% 43.1% 57.0% 19.8 1,216.3 Flamemaster Corp FAME 5.00 0.0% 2.0% 17.6% 10.7 6.3 RadNet Inc RDNT 3.50 2.2% 23.9% 4.3% NA 130.3 Northrop Grumman Corp NOC 62.36 0.2% 6.1% 4.6% 9.4 18,166.3 VCA Antech Inc WOOF 25.05 -0.1% 7.6% -10.1% 18.7 2,160.0 Teledyne Technologies Inc TDY 51.86 1.4% 17.9% 25.3% 16.7 1,900.2 INSURANCE APPAREL Mercury General Corp MCY 40.12 2.2% -6.7% -10.4% 19.2 2,199.3 American Apparel Inc APP 0.80 -19.8% -51.8% -75.9% NA 62.2 Unico American Corp UNAM 9.68 -1.9% 5.9% 4.8% 22.5 51.5 Cherokee Inc CHKE 18.21 5.4% -3.2% -2.4% 14.9 162.0 Wesco Financial Corp WSC 394.00 1.0% 6.9% 2.0% 34.4 2,805.2 Guess? Inc GES 39.19 0.1% -17.2% -13.4% 12.6 3,617.7 INTERNET Horiyoshi Worldwide Inc (L) HHWW 0.50 -37.5% -70.6% NA NA 30.0 Accelerize New Media Inc ACLZ 0.38 0.0% -36.7% -30.9% NA 11.9 Hot Topic Inc HOTT 5.82 0.9% -7.4% -8.5% 145.5 259.5 T Bidz.com Inc BIDZ 1.36 -10.5% 12.1% -35.2% NA 26.4 Ironclad Performance Wear Corp ICPW 0.10 -13.0% 0.0% -28.6% NA 7.3 J2 Global Communications Inc JCOM 29.94 1.3% 3.4% 25.5% 16.0 1,373.8 S Joe's Jeans Inc JOEZ 1.14 22.6% -26.7% -65.9% 28.5 73.5 MMRGlobal Inc (L) MMRF 0.06 -14.1% -39.6% -58.3% NA 13.3 K-Swiss Inc KSWS 11.81 5.5% -5.3% 9.6% NA 417.8 T ReachLocal Inc RLOC 18.52 -10.8% -7.0% NA NA 532.1 People's Liberation Inc PPLB 0.15 7.1% 36.4% -21.1% NA 5.4 Spark Networks Inc LOV 3.16 1.0% 6.4% -11.7% 16.6 65.1 Skechers U.S.A. Inc SKX 20.75 2.2% 3.8% -44.6% 7.5 1,002.1 Stamps.com Inc STMP 13.26 -0.2% 0.1% 52.1% 26.5 192.8 Talon International Inc TALN 0.18 20.0% 71.4% 111.8% NA 3.7 United Online Inc UNTD 6.39 2.1% -3.2% -16.6% 10.5 562.4 True Religion Apparel Inc TRLG 24.65 3.7% 10.7% -17.8% 13.2 619.3 S ValueClick Inc VCLK 15.82 9.1% -1.3% 55.9% 16.0 1,278.1 AUTOMOTIVE/PLASTICS/METALS MANUFACTURING Motorcar Parts of America Inc MPAA 14.69 4.8% 12.7% 122.6% 14.1 177.3 American Metal & Technology Inc AMGY 0.36 0.0% 0.0% -23.4% 10.9 4.3 Reliance Steel & Aluminum Co (H) RS 58.95 0.8% 15.4% 9.9% 22.6 4,401.2 Avery Dennison Corp AVY 42.61 1.2% 0.6% 14.8% 13.4 4,553.9 Superior Industries International Inc (H) SUP 25.61 1.4% 20.7% 57.9% 12.1 688.0 BioSolar Inc BSRC 0.14 -4.6% 41.0% 12.8% NA 21.6 US Auto Parts Network Inc PRTS 8.29 -1.5% -1.3% 11.4% 69.1 252.4 T Cereplast Inc CERP 4.74 -9.0% 14.5% 2.2% NA 74.4 BIOMEDICAL/PHARMACEUTICAL Dole Food Co Inc DOLE 13.94 0.4% 3.2% 18.1% NA 1,235.1 Amgen Inc AMGN 54.03 0.2% -1.6% -10.4% 11.3 50,380.4 Ever-Glory International Group Inc EVK 2.01 -2.0% -4.7% -37.2% 5.0 29.7 Arrowhead Research Corp ARWR 0.70 -9.1% -21.8% -37.0% NA 50.3 S Farmer Bros Co. FARM 13.10 8.4% -26.4% -31.0% NA 212.3 CytRx Corp CYTR 0.87 -1.4% -14.0% -22.5% NA 94.8 Jakks Pacific Inc (H) JAKK 19.94 4.3% 9.4% 44.6% 16.5 538.5 Iris International Inc IRIS 9.39 3.4% -8.2% -12.5% 37.0 167.2 Mattel Inc MAT 25.57 2.4% 0.6% 9.7% 14.0 8,886.1 MannKind Corp MNKD 3.70 0.0% -54.1% -47.4% NA 483.4 OSI Systems Inc OSIS 39.14 6.9% 7.6% 37.2% 25.8 741.0 Obagi Medical Products Inc OMPI 12.70 0.8% 10.0% -2.8% 19.8 234.9 Overhill Farms Inc OFI 6.06 -1.1% 5.2% 2.0% 15.5 95.9 Physicians Formula Holdings Inc FACE 4.97 4.0% 32.2% 99.9% 165.7 67.5 Reed's Inc REED 2.13 1.9% 6.0% 29.1% NA 23.0 Oxis International Inc OXIS 0.11 -8.7% -27.6% -38.2% NA 17.1 Virco Manufacturing VIRC 3.22 3.5% 22.0% -11.1% NA 45.7 T Response Genetics Inc RGDX 2.05 -8.5% -17.3% 2.5% NA 37.6 Vision Industries Corp VIIC 0.26 4.0% -7.1% -13.3% NA 9.2 Staar Surgical Co STAA 5.55 -1.6% -9.0% 48.4% NA 195.8 MEDIA/LEISURE/ENTERTAINMENT Crown Media Holdings Inc CRWN 2.36 0.9% -9.9% 22.9% NA 848.8 COMPUTERS/PERIPHERALS/ELECTRONICS Daily Journal Corp DJCO 73.00 1.4% 1.4% 6.0% 13.0 100.8 Aura Systems Inc AUSI 0.75 -6.3% 0.0% -11.8% NA 43.1 Demand Media Inc (H) DMD 24.16 5.1% NA NA NA 2,001.7 GTX Corp (L) GTXO 0.06 3.4% -26.5% -68.5% NA 2.8 Derycz Scientific Inc DYSC 3.40 -2.9% 28.3% 446.6% NA 51.9 Interlink Electronics Inc LINK 0.31 0.0% 10.7% 3.3% NA 4.3 DirecTV (H) DTV 46.60 0.5% 16.7% 34.1% 18.8 36,887.4 International Rectifier Corp IRF 33.25 1.2% 12.0% 42.8% 15.0 2,322.2 DreamWorks Animation SKG Inc DWA 27.58 -0.7% -6.4% -28.3% 5.3 2,330.3 Ixia XXIA 14.74 -5.7% -12.2% 55.8% 122.8 1,009.2 DTS Inc DTSI 47.19 2.9% -3.8% 42.1% 54.9 820.5 MRV Communications Inc MRVC 1.51 -1.3% -15.6% 17.1% 16.8 237.9 Entravision Communications Corp EVC 2.74 1.5% 6.6% -7.4% 39.1 232.7 PC Mall Inc MALL 9.92 -3.7% 31.0% 82.7% 16.0 122.9 Image Entertainment Inc DISK 0.16 -5.9% 14.3% -23.8% NA 40.9 T Power-One Inc PWER 8.29 -7.2% -18.7% 99.3% 7.5 863.4 Lions Gate Entertainment Corp LGF 6.51 3.2% 0.0% 4.5% NA 890.2 Qualstar Corp QBAK 1.78 -0.6% 5.3% -4.8% NA 21.8 Live Nation Entertainment Inc LYV 10.24 2.4% -10.3% -33.8% NA 1,860.4 Semtech Corp (H) SMTC 26.16 4.4% 15.5% 45.0% 22.2 1,692.1 NeuMedia Inc MNDL 0.55 -6.8% 89.7% 83.3% NA 19.9 Taitron Components Inc TAIT 1.55 0.0% -1.9% 4.0% NA 8.6 Point.360 PTSX 0.62 -3.1% -29.6% -61.7% NA 6.7 Trio Tech International TRT 4.50 0.4% 7.9% 15.4% 12.5 14.9 Provision Holding Inc PVHO 0.05 -7.4% -16.7% -73.7% NA 2.3 Vitesse Semiconductor Corp VTSS 5.19 6.8% 23.9% -35.0% NA 125.8 Public Media Works Inc PUBM 0.60 9.1% -36.8% -66.7% NA 13.5 CONSTRUCTION/ENGINEERING Reading International Inc RDI 4.88 -3.4% -3.4% 11.9% NA 114.5 Aecom Technology Corp ACM 27.86 1.1% -0.4% -4.7% 13.1 3,307.7 RealD Inc RLD 27.95 6.2% 7.8% NA NA 1,433.9 Ameron International Corp AMN 68.83 -1.4% -9.9% 11.8% 38.9 628.9 Salem Communications Corp SALM 3.76 -0.8% 18.6% 17.0% 26.9 90.8 Jacobs Engineering Group Inc JEC 51.97 1.7% 13.3% 14.4% 21.5 6,568.2 Sports Club Inc SCYL 0.25 0.0% NA NA NA 5.4 KB Home KBH 11.84 -6.2% -12.2% -28.3% NA 911.0 Stratus Media Group Inc SMDI 0.55 0.0% -14.1% -69.1% NA 35.0 Ryland Group Inc RYL 16.23 0.9% -4.7% -28.0% NA 717.5 S Tix Corp (H) TIXC 1.75 30.6% 41.1% 41.1% 43.8 54.5 Tetra Tech Inc TTEK 25.12 3.4% 0.2% 5.3% 19.8 1,564.8 Walt Disney Co. DIS 42.27 -2.5% 12.7% 19.2% 18.5 80,273.7 Tutor Perini Corp TPC 24.97 2.7% 16.6% 14.6% 11.7 1,175.8 Warner Music Group Corp WMG 6.92 5.8% 22.9% -6.1% NA 1,072.5 ENERGY/UTILITIES MISC. SERVICES American States Water Co AWR 36.20 2.8% 5.0% -0.9% 16.8 675.3 Cadiz Inc CDZI 12.67 4.9% 1.8% 0.9% NA 158.0 S BNK Petroleum Inc BKX 5.19 8.3% 46.5% 75.4% NA 747.8 Electro Rent Corp (H) ELRC 17.57 2.0% 8.7% 24.7% 20.9 421.3 BreitBurn Energy Partners LP BBEP 21.02 -2.5% 4.4% 37.4% 11.2 1,241.0 S Enova Systems Inc ENA 1.19 31.8% -7.5% -24.5% NA 37.3 S Capstone Turbine Corp CPST 2.02 8.0% 110.5% 54.2% NA 496.9 Korn/Ferry International KFY 22.25 2.7% -3.7% 25.1% 21.0 1,045.0 Cavitation Technologies Inc CVAT 0.10 4.0% -28.3% -30.7% NA 14.4 National Technical Systems Inc NTSC 7.33 3.2% -9.2% 35.3% 12.0 74.3 Edison International EIX 37.08 1.3% -3.9% 7.0% 10.7 12,081.1 NetSol Technologies Inc NTWK 1.90 1.1% 1.6% 131.7% 13.6 97.1 Occidental Petroleum Corp OXY 101.04 -2.6% 3.0% 14.2% 17.8 82,130.3 On Assignment Inc ASGN 10.02 6.6% 22.9% 32.5% 250.5 368.3 T U.S. China Mining Group Inc (L) SGZH 3.01 -21.0% -52.7% -71.2% 3.5 56.9 Rentech Inc RTK 1.25 0.0% 2.5% 21.4% NA 277.8 Voyager Oil & Gas Inc VOG 4.29 -6.1% -20.6% 260.5% NA 248.2 S Scope Industries (H) SCPJ 200.00 10.5% 55.0% 56.6% 61.9 199.7 FINANCIAL SERVICES Simon Worldwide Inc (L) SWWI 0.20 -13.0% -18.5% -20.0% NA 10.1 1st Century Bancshares Inc FCTY 3.90 -6.0% -4.9% -2.5% NA 38.1 Sionix Corp (H) SINX 0.19 259.2% 273.6% 92.6% NA 45.2 American Business Bank AMBZ 23.00 2.2% 3.3% -0.8% 11.6 100.6 UTi Worldwide Inc UTIW 20.64 4.5% -2.6% 29.7% 29.9 2,108.1 Anworth Mortgage Asset Corp ANH 7.28 3.7% 4.0% 6.6% 8.3 885.1 REAL ESTATE Bank of Santa Clarita BSCA 8.20 0.0% 18.0% 20.6% 31.5 14.1 Alexandria Real Estate Equities Inc ARE 78.49 1.6% 7.1% 9.3% 26.5 4,349.5 Beach Business Bank BBBC 6.10 0.0% 22.0% 18.4% NA 24.5 CB Richard Ellis Group Inc (H) CBG 27.68 2.4% 35.2% 67.5% 40.1 8,956.7 Broadway Financial Corp BYFC 2.25 -4.3% -7.4% -59.5% 5.2 3.9 Douglas Emmett Inc (H) DEI 19.10 0.5% 15.1% 16.5% NA 2,373.6 California United Bank CUNB 12.75 -0.1% 3.2% 4.5% NA 62.9 HCP Inc HCP 37.56 -0.6% 2.1% 11.8% 33.5 15,249.6 Cathay General Bancorp CATY 17.78 4.1% 6.5% 40.6% 592.7 1,396.2 Hudson Pacific Properties Inc HPP 14.38 0.2% -4.5% NA NA 322.9 Center Financial Corp CLFC 7.44 2.9% -1.8% 46.7% 16.5 296.8 Intergroup Corp INTG 21.78 0.1% 0.8% 78.2% 5.9 52.8 City National Corp CYN 58.75 3.1% -4.3% 5.5% 25.3 3,106.4 Kennedy-Wilson Holdings Inc KW 10.98 1.1% 9.9% 7.1% NA 441.2 T Colony Financial Inc CLNY 18.64 -7.6% -6.9% -6.8% 15.2 571.0 Kilroy Realty Corp (H) KRC 39.25 1.9% 7.6% 17.6% 178.4 2,057.5 East West Bancorp Inc EWBC 23.15 4.6% 18.4% 27.2% 22.5 3,440.0 LTC Properties Inc LTC 29.42 4.5% 4.8% 4.4% 24.7 878.0 Farmers & Merchants Bank FMBL 4350.00 3.6% 9.6% 8.1% 10.7 569.5 Macerich Co MAC 48.93 0.1% 3.3% 15.2% 376.4 6,378.0 First California Financial Group Inc FCAL 3.90 4.0% 39.3% 32.7% NA 109.9 MPG Office Trust Inc MPG 3.40 -6.1% 23.6% -7.4% NA 166.8 T General Finance Corp GFN 3.15 -10.0% 59.1% 136.8% NA 69.3 Meruelo Maddux Properties Inc* MMPIQ 0.43 7.5% 53.6% 681.8% NA 37.9 Great American Group Inc GAMR 0.30 -9.1% -38.8% -86.0% NA 9.2 Pacific Office Properties Trust Inc PCE 2.10 -3.2% -49.6% -51.7% NA 40.7 Green Dot Corp GDOT 45.31 7.7% -20.1% NA 48.2 1,897.5 Portsmouth Square Inc PRSI 24.00 0.0% 4.3% -4.0% 6.9 17.6 Hanmi Financial Corp HAFC 1.29 2.4% 12.2% -36.3% NA 195.1 PS Business Parks Inc PSB 58.92 3.3% 5.7% 5.4% 41.5 1,453.9 Kaiser Federal Financial Group Inc KFFG 12.79 3.2% 10.4% 0.6% 17.3 122.3 Public Storage PSA 110.77 0.4% 9.2% 17.0% 43.3 19,807.1 Malaga Financial Corp MLGF 17.50 0.0% 14.8% 37.3% 9.8 101.5 Santa Fe Financial Corp SFEF 15.00 0.1% 13.6% 100.0% 150.0 18.6 Manhattan Bancorp MNHN 5.45 0.9% 5.8% -12.8% NA 21.7 Thomas Properties Group Inc TPGI 3.67 5.8% -13.0% -3.7% NA 186.3 Mission Valley Bancorp MVLY 4.35 0.0% 16.0% -7.4% NA 10.7 RESTAURANTS/RETAIL/GROCERY Nara Bancorp Inc NARA 9.64 1.6% -2.2% 6.1% NA 366.2 99 Cents Only Stores NDN 19.74 0.7% 23.8% 20.9% 18.3 1,383.3 NCAL Bancorp NCAL 10.00 0.0% 0.0% -16.7% NA 23.3 Arden Group Inc ARDNA 79.45 3.9% -3.7% -28.4% 13.9 251.1 Pacific Commerce Bank PFCI 3.30 1.5% 10.0% -17.5% NA 8.1 Big 5 Sporting Goods Corp BGFV 12.30 2.6% -19.4% -23.3% 12.2 268.7 PacWest Bancorp PACW 22.51 5.2% 5.3% -3.6% NA 798.2 California Pizza Kitchen Inc CPKI 16.41 -1.1% -5.0% -4.0% 20.3 403.4 PennyMac Mortgage Investment Trust PMT 18.62 0.5% 2.6% 7.4% 13.0 516.9 Cheesecake Factory Inc CAKE 30.20 1.7% -1.5% 9.4% 21.1 1,809.9 S Preferred Bank PFBC 1.63 10.9% -7.4% 8.0% NA 107.6 DineEquity Inc DIN 54.41 0.0% 10.2% 36.2% 53.3 993.3 T SearchMedia Holdings Ltd. (L) IDI 1.56 -12.4% -49.8% -64.2% NA 32.5 Grill Concepts Inc GLLC 0.50 38.9% 72.4% 31.6% NA 4.4 Saehan Bancorp SAEB 0.30 11.1% -23.1% -66.7% NA 3.6 Jerry's Famous Deli Inc DELI 3.60 0.0% 2.9% 14.3% 11.6 16.8 Wilshire Bancorp Inc WIBC 5.13 3.8% -32.7% -54.5% NA 151.3 Sport Chalet Inc SPCHB 2.18 -5.2% -41.7% -33.1% NA 28.7 HEALTH CARE SOFTWARE Apollo Medical Holdings Inc AMEH 0.23 -11.6% 52.5% 106.1% NA 6.3 Activision Blizzard Inc ATVI 11.35 3.5% -8.8% -6.0% 23.6 13,418.5 Compumed Inc CMPD 0.09 -5.3% 0.0% -57.1% NA 2.5 Artificial Life Inc (L) ALIF 0.66 -1.5% -35.3% -48.0% 3.9 42.1 CrowdGather Inc CRWG 1.03 -6.4% -34.4% -22.0% NA 58.6 CyberDefender Corp CYDE 2.03 0.0% -33.7% -49.3% NA 56.8 Emergent Group Inc LZR 8.45 0.0% 29.2% 23.0% 18.8 58.8 Guidance Software Inc GUID 8.39 0.2% 16.7% 44.2% NA 193.6 Health Net Inc (H) HNT 31.70 -3.4% 16.2% 27.3% 13.7 2,916.3 Peerless Systems Corp PRLS 3.17 1.9% 0.6% 10.4% 12.7 10.6 Hemacare Corp HEMA 0.46 -6.9% -16.4% -31.3% NA 4.5 Simulations Plus Inc SLP 3.13 -0.9% 16.4% 72.9% 24.1 48.5 Herbalife Ltd. (H) HLF 82.94 1.4% 21.3% 78.3% 17.4 4,897.8 THQ Inc THQI 4.69 0.2% -22.6% -38.6% NA 319.1 * Reorganizing under Chapter 11 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

32 LOS ANGELES BUSINESS JOURNAL REAL ESTATE APRIL 11, 2011 L.A. County Home Sales Take a Step Back in March HOUSING: Volume slides Market Highlights by 12 percent and median price declines by 3 percent. MOST EXPENSIVE HOMES 3/11 3/11 3/10 ZIP Home Median Median As the rest of the nation seems to be on the Community Code Sales Price Price Change brink of a double dip in home sales, people Santa Monica 90402 4 $2,185 $1,465 49% were feeling timid too in Los Angeles County San Marino 91108 5 1,830 1,700 8% about buying homes in March. Beverly Hills 90210 12 1,460 990 47% New and existing house sales fell 12 per- L.A./Westwood 90024 8 1,450 1,505 -4% cent to 4,258 units, compared with the same Palos Verdes Est. 90274 25 1,441 1,016 42% L.A./Bel-Air 90077 5 1,310 870 51% month last year. Condo sales remained rela- Hermosa Beach 90254 8 1,275 830 54% tively flat, falling nearly 2 percent to 1,746, L.A./Brentwood 90049 15 1,267 1,375 -8% according to HomeData of Hicksville, N.Y. L.A./Mid-Wilshire 90036 9 1,236 1,325 -7% Even though interest rates are at historic Pacific Palisades 90272 20 1,228 1,625 -24% lows, the median price for a home sold during the month fell 3 percent to $330,000 compared MOST EXPENSIVE CONDOS 3/11 3/11 3/10 with a year earlier. ZIP Condo Median Median The slowdown is likely due to a declining Community Code Sales Price Price Change supply of desirable homes and a drop in the Manhattan Beach 90266 5 $1,010 $975 4% number of people who can come up with a 20 Hermosa Beach 90254 5 1,000 645 55% percent down payment, local analysts said. Santa Monica 90403 12 797 N/A N/A “People have less money for down pay- Pacific Palisades 90272 8 712 795 -10% L.A./West Hllywd 90048 4 692 562 23% ments and that’s the real key, more than the Santa Monica 90405 10 682 720 -5% interest rate,” said Richard Green, chairman Pasadena 91105 5 650 675 -4% of USC Lusk Center for Real Estate. “Lots of Marina del Rey 90292 18 625 502 25% people can’t take advantage of (the low Venice 90291 3 595 682 -13% prices), because they can’t make the down L.A./Westwood 90024 18 588 532 11% payment.” Santa Monica: The beach city had the county’s highest median home price. The first-time federal homebuyer tax credit HOME PRICE LOSSES that expired last year also pushed forward a 3/11 3/11 3/10 ZIP Home Median Median L.A. COUNTY MEDIAN HOME PRICES number of home sales, reducing the number of Community Code Sales Price Price Change $500 people in the market today. Malibu 90265 9 $852 $2,333 -63% “All of that together with a feeling that if I Acton 93510 6 248 460 -46% 480 Lomita 90717 6 399 678 -41% wait, prices will slide is a big hurdle,” said 460 Leslie Appleton-Young, chief economist for L.A./Palms 90034 5 430 687 -37% California Association of Realtors. El Segundo 90245 3 657 980 -33% 440 Calabasas 91302 15 920 1,370 -33% Still, as would be expected, sales rose since 420 Monterey Park 91754 8 342 495 -31% February as the summer peak home-buying Diamond Bar 91765 22 420 580 -28% 400 season approached. But the rise was very slight Stevenson Ranch 91381 18 550 745 -26% 380 $325 $330 at only 1 percent, according to adjusted sales Long Beach 90802 4 252 340 -26% data. Prices also rose a modest $5,000 on a 360 month-over-month basis. CONDO PRICE LOSSES 340 $306 The locations of available homes are also 3/11 3/11 3/10 ZIP Condo Median Median 320 impacting the sales rate. Homes in desirable Community Code Sales Price Price Change neighborhoods are selling well, whereas prop- Van Nuys 91411 3 $146 $385 -62% 300 erties in other areas have remained on the mar- Long Beach 90814 3 145 316 -54% 280 ket longer, analysts said. Cerritos 90703 15 180 344 -48% For example, median home prices rose last Canoga Park 91303 4 130 238 -45% 260 Bell/Bell Gardens 90201 3 170 310 -45% month in San Marino, and much of Santa 240 Monica and Beverly Hills. Santa Monica’s Rosemead 91770 4 315 522 -40% Pomona 91767 6 158 255 -38% 220 (In thousands) 90402 ZIP code boasted the county’s most Glendale 91202 6 248 398 -38% expensive median home price at nearly $2.2 Lancaster 93534 3 82 131 -37% 200 MAMJ J AS0NDJ FMAMJ J A S ONJFM D million Westlake Village 91361 5 238 380 -37% – Jacquelyn Ryan 2009 2010 ’11 Sale price in thousands Source: HomeData, www.homedata.com Source: HomeData Corp.

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

Median Price Median Price Home Sales Percent (thousands) Percent Condo Sales Percent (thousands) Percent Community ZIP Code 2011 2010 Change 2011 2010 Change 2011 2010 Change 2011 2010 Change Los Angeles County 4,258 4,849 -12% $330 $340 -3% 1,746 1,777 -2% $300 $300 0% Acton 93510 6 5 20% 248 460 -46% 0 0 N/A N/A N/A N/A Agoura Hills 91301 19 24 -21% 439 524 -16% 4 4 0% 254 200 27% Alhambra 91801 7 11 -36% 425 505 -16% 9 12 -25% 349 412 -15% Alhambra 91803 9 6 50% 398 530 -25% 4 2 100% 380 366 4% Altadena 91001 24 18 33% 522 452 15% 3 2 50% 280 248 13% Arcadia 91006 25 10 150% 949 798 19% 6 2 200% 568 460 23% Arcadia 91007 17 11 55% 925 858 8% 8 8 0% 423 468 -10% Artesia 90701 10 5 100% 338 293 15% 1 1 0% 407 153 166% Azusa 91702 24 27 -11% 293 300 -2% 11 13 -15% 200 200 0% Baldwin Park 91706 30 46 -35% 255 242 5% 7 16 -56% 200 186 8% Bell/Bell Gardens 90201 20 17 18% 222 255 -13% 3 6 -50% 170 310 -45% Bellflower 90706 29 36 -19% 299 340 -12% 10 13 -23% 224 260 -14% Beverly Hills 90210 12 12 0% 1,460 990 47% 1 1 0% 472 1,620 -71% Beverly Hills 90211 2 2 0% 916 1,265 -28% 0 3 N/A N/A 615 N/A Beverly Hills 90212 1 0 N/A 1,400 N/A N/A 2 0 N/A 1,187 N/A N/A Burbank 91501 6 7 -14% 535 703 -24% 4 6 -33% 348 358 -3% Burbank 91504 12 15 -20% 538 570 -6% 4 9 -56% 282 367 -23% Burbank 91505 21 23 -9% 475 480 -1% 5 3 67% 350 365 -4% 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

APRIL 11, 2011 REAL ESTATE LOS ANGELES BUSINESS JOURNAL 33

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

Median Price Median Price Home Sales Percent (thousands) Percent Condo Sales Percent (thousands) Percent Community ZIP Code 2011 2010 Change 2011 2010 Change 2011 2010 Change 2011 2010 Change Burbank 91506 10 9 11% $428 $575 -26% 0 0 N/A N/A N/A N/A Calabasas 91302 15 17 -12% 920 1,370 -33% 9 3 200% $435 $412 6% Canoga Park 91303 7 9 -22% 280 340 -18% 4 6 -33% 130 238 -45% Canoga Park 91304 16 21 -24% 336 435 -23% 11 7 57% 168 205 -18% Canyon Country 91351 13 24 -46% 291 318 -8% 9 20 -55% 179 195 -8% Canyon Country 91387 26 30 -13% 384 482 -20% 17 20 -15% 210 240 -13% Carson 90745 16 21 -24% 280 325 -14% 15 7 114% 300 112 168% Carson 90746 9 20 -55% 365 340 7% 1 1 0% 152 220 -31% Castaic 91384 17 23 -26% 390 358 9% 4 5 -20% 300 323 -7% Cerritos 90703 22 23 -4% 538 555 -3% 15 6 150% 180 344 -48% Chatsworth 91311 11 19 -42% 608 498 22% 17 9 89% 352 275 28% City of Commerce 90040 1 3 -67% 315 255 24% 0 1 N/A N/A 400 N/A Claremont 91711 29 30 -3% 480 450 7% 2 3 -33% 288 358 -20% Compton 90220 26 41 -37% 200 190 5% 2 2 0% 218 184 18% Compton 90221 27 33 -18% 195 200 -3% 6 5 20% 250 200 25% Compton 90222 24 28 -14% 160 152 5% 3 2 50% 135 168 -20% Covina 91722 12 30 -60% 290 295 -2% 0 2 N/A N/A 232 N/A Covina 91723 7 3 133% 265 325 -18% 1 2 -50% 210 300 -30% Covina 91724 18 19 -5% 368 385 -4% 2 5 -60% 293 215 36% Culver City 90230 4 7 -43% 510 615 -17% 10 10 0% 258 360 -28% Culver City 90232 4 1 300% 613 455 35% 2 2 0% 628 656 -4% Diamond Bar 91765 22 20 10% 420 580 -28% 19 28 -32% 245 275 -11% Downey 90240 11 17 -35% 355 425 -16% 3 3 0% 250 382 -35% Downey 90241 15 20 -25% 345 413 -16% 5 10 -50% 355 280 27% Downey 90242 21 19 11% 328 350 -6% 3 1 200% 250 375 -33% Duarte - Bradbury 91010 9 20 -55% 289 344 -16% 4 3 33% 222 220 1% El Monte 91731 6 10 -40% 322 375 -14% 1 5 -80% 300 330 -9% El Monte 91732 25 18 39% 295 292 1% 4 3 33% 266 249 7% El Monte - South El Monte 91733 9 10 -10% 354 278 27% 2 4 -50% 315 278 13% El Segundo 90245 3 3 0% 657 980 -33% 2 10 -80% 548 562 -2% Encino 91316 14 19 -26% 408 550 -26% 15 17 -12% 217 205 6% Encino 91436 11 14 -21% 1,100 902 22% 3 0 N/A 190 N/A N/A Gardena 90247 15 10 50% 316 292 8% 8 8 0% 341 190 79% Gardena 90249 12 8 50% 330 360 -8% 4 3 33% 215 180 19% Glendale 91201 5 6 -17% 550 572 -4% 2 2 0% 370 365 1% Glendale 91202 6 4 50% 522 547 -5% 6 5 20% 248 398 -38% Glendale 91203 2 1 100% 404 435 -7% 9 7 29% 335 335 0% Glendale 91204 1 1 0% 382 399 -4% 2 1 100% 258 270 -4% Glendale 91205 3 5 -40% 370 465 -20% 7 4 75% 290 230 26% Glendale 91206 9 7 29% 634 720 -12% 19 15 27% 269 300 -10% Glendale 91207 6 4 50% 716 712 1% 0 0 N/A N/A N/A N/A Glendale 91208 8 9 -11% 592 650 -9% 0 1 N/A N/A 190 N/A Glendale - La Crescenta 91214 14 26 -46% 520 550 -5% 4 3 33% 392 515 -24% Glendora 91740 12 12 0% 316 355 -11% 3 1 200% 242 232 4% Glendora 91741 21 22 -5% 480 440 9% 2 1 100% 348 388 -10% Granada Hills 91344 42 46 -9% 392 408 -4% 5 6 -17% 280 247 13% Hacienda Heights 91745 28 24 17% 386 455 -15% 7 7 0% 210 240 -13% Harbor City 90710 9 7 29% 420 425 -1% 12 8 50% 252 356 -29% Hawaiian Gardens 90716 2 7 -71% 240 241 0% 3 4 -25% 250 177 41% Hawthorne 90250 22 26 -15% 360 330 9% 17 7 143% 381 300 27% Hermosa Beach 90254 8 8 0% 1,275 830 54% 5 5 0% 1,000 645 55% Huntington Park 90255 18 18 0% 252 236 7% 4 7 -43% 152 165 -8% Inglewood 90301 7 11 -36% 225 250 -10% 5 3 67% 152 115 32% Inglewood 90302 6 8 -25% 272 234 16% 6 5 20% 96 135 -29% Inglewood 90303 8 4 100% 228 286 -20% 1 1 0% 265 506 -48% Inglewood 90305 10 6 67% 342 334 2% 2 2 0% 290 292 -1% L.A. 90011 33 30 10% 189 185 2% 14 3 367% 242 250 -3% L.A. 90062 19 14 36% 208 210 -1% 2 2 0% 241 208 16% L.A./Baldwin Hills 90008 9 6 50% 430 444 -3% 6 6 0% 289 258 12% L.A./Baldwin Hills 90056 2 5 -60% 728 620 17% 1 1 0% 230 328 -30% L.A./Bel-Air 90077 5 6 -17% 1,310 870 51% 2 0 N/A 1,020 N/A N/A L.A./Brentwood 90049 15 19 -21% 1,267 1,375 -8% 12 8 50% 544 677 -20% L.A./Brooklyn Heights 90033 7 10 -30% 220 295 -25% 3 2 50% 187 255 -27% L.A./Chesterfield Square 90047 27 38 -29% 245 229 7% 4 1 300% 252 280 -10% L.A./City College 90029 3 4 -25% 335 368 -9% 2 4 -50% 385 338 14% L.A./City Terrace 90063 17 19 -11% 175 195 -10% 2 2 0% 181 208 -13% L.A./Crenshaw District 90016 17 13 31% 319 315 1% 7 7 0% 350 250 40% L.A./Eagle Rock 90041 12 12 0% 402 455 -12% 3 1 200% 319 625 -49% L.A./East L.A. 90022 15 12 25% 247 244 1% 2 2 0% 365 311 17% L.A./East L.A. 90023 11 12 -8% 210 202 4% 0 7 N/A N/A 204 N/A L.A./Echo Park 90026 11 13 -15% 471 401 17% 10 10 0% 470 456 3% L.A./El Sereno 90032 26 7 271% 268 243 10% 2 8 -75% 152 225 -32% L.A./Exposition Park 90037 18 21 -14% 242 249 -3% 6 3 100% 266 270 -1% L.A./Hancock Park 90004 9 10 -10% 500 654 -24% 2 6 -67% 394 437 -10% L.A./Highland Park 90042 26 32 -19% 340 302 13% 11 11 0% 290 281 3% L.A./Hollywood Hills 90068 20 20 0% 920 1,060 -13% 7 1 600% 409 479 -15% L.A./Koreatown 90005 3 5 -40% 550 570 -4% 6 6 0% 376 388 -3% L.A./Koreatown 90006 5 5 0% 300 305 -2% 7 5 40% 331 370 -11% L.A./Lincoln Heights 90031 5 13 -62% 286 270 6% 6 3 100% 244 350 -30% L.A./Los Feliz 90027 10 17 -41% 886 680 30% 7 5 40% 378 473 -20% L.A./Mar Vista 90066 15 20 -25% 806 672 20% 13 4 225% 470 522 -10% 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

34 LOS ANGELES BUSINESS JOURNAL REAL ESTATE APRIL 11, 2011

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

Median Price Median Price Home Sales Percent (thousands) Percent Condo Sales Percent (thousands) Percent Community ZIP Code 2011 2010 Change 2011 2010 Change 2011 2010 Change 2011 2010 Change L.A./Mid-City 90019 18 25 -28% $498 $512 -3% 4 8 -50% $340 $484 -30% L.A./Mid-Wilshire 90036 9 5 80% 1,236 1,325 -7% 2 4 -50% 603 422 43% L.A./Mt. Washington 90065 19 23 -17% 418 446 -6% 2 3 -33% 276 300 -8% L.A./Palms 90034 5 7 -29% 430 687 -37% 2 1 100% 342 502 -32% L.A./Rancho Park 90064 13 10 30% 906 797 14% 8 10 -20% 555 410 35% L.A./Silver Lake 90039 18 9 100% 595 569 5% 6 3 100% 450 375 20% L.A./South Figueroa 90007 4 8 -50% 271 325 -17% 3 2 50% 218 308 -29% L.A./South L.A. 90001 20 21 -5% 187 170 10% 6 4 50% 203 220 -8% L.A./South L.A. 90003 38 32 19% 184 172 7% 12 5 140% 180 160 13% L.A./South L.A. 90044 39 42 -7% 200 186 8% 6 5 20% 212 200 6% L.A./South L.A. 90061 11 15 -27% 185 160 16% 2 3 -33% 204 210 -3% L.A./South L.A. 90248 1 0 N/A 250 N/A N/A 1 0 N/A 331 N/A N/A L.A./South Park 90015 1 0 N/A 295 N/A N/A 15 0 N/A 390 N/A N/A L.A./South Robertson 90035 5 5 0% 1,100 800 38% 4 5 -20% 572 466 23% L.A./Watts 90002 39 30 30% 190 150 27% 9 7 29% 223 200 12% L.A./West Adams 90018 11 20 -45% 280 293 -4% 3 4 -25% 480 275 75% L.A./West Hollywood 90038 2 2 0% 804 583 38% 2 1 100% 385 412 -7% L.A./West Hollywood 90046 14 20 -30% 714 860 -17% 11 15 -27% 370 399 -7% L.A./West Hollywood 90048 8 14 -43% 1,075 1,025 5% 4 8 -50% 692 562 23% L.A./West Hollywood 90069 7 6 17% 1,175 1,148 2% 16 19 -16% 372 460 -19% L.A./West L.A. 90025 3 1 200% 800 1,465 -45% 27 12 125% 585 611 -4% L.A./Westchester 90045 16 16 0% 625 613 2% 3 5 -40% 390 305 28% L.A./Westwood 90024 8 4 100% 1,450 1,505 -4% 18 15 20% 588 532 11% L.A./Willowbrook 90059 19 36 -47% 175 134 31% 3 4 -25% 180 202 -11% L.A./Windsor Hills 90043 27 43 -37% 330 270 22% 2 5 -60% 184 233 -21% La Canada Flintridge 91011 17 11 55% 1,075 925 16% 0 1 N/A N/A 455 N/A La Habra 90631 39 35 11% 395 400 -1% 9 16 -44% 184 205 -10% La Mirada 90638 24 32 -25% 352 404 -13% 5 2 150% 310 340 -9% La Puente 91744 50 42 19% 258 242 7% 5 3 67% 238 310 -23% La Puente 91746 18 17 6% 248 282 -12% 1 1 0% 318 265 20% La Verne 91750 11 14 -21% 405 485 -16% 1 3 -67% 562 153 267% Lake Hughes 93532 2 4 -50% 144 160 -10% 0 0 N/A N/A N/A N/A Lakewood 90712 22 29 -24% 340 400 -15% 4 2 100% 353 392 -10% Lakewood 90713 24 18 33% 378 403 -6% 3 0 N/A 390 N/A N/A Lakewood 90715 9 14 -36% 310 374 -17% 4 1 300% 228 275 -17% Lancaster 93534 34 49 -31% 97 89 9% 3 4 -25% 82 131 -37% Lancaster 93535 93 117 -21% 115 115 0% 11 19 -42% 115 101 14% Lancaster 93536 98 116 -16% 185 205 -10% 17 3 467% 133 200 -34% Lawndale 90260 15 10 50% 356 398 -11% 8 3 167% 354 265 34% Lennox 90304 6 5 20% 388 240 62% 3 1 200% 329 120 174% Littlerock 93543 17 13 31% 105 113 -7% 2 0 N/A 128 N/A N/A Llano 93544 1 0 N/A 61 N/A N/A 0 0 N/A N/A N/A N/A Lomita 90717 6 4 50% 399 678 -41% 1 6 -83% 335 347 -3% Long Beach 90802 4 4 0% 252 340 -26% 44 41 7% 255 200 28% Long Beach 90804 7 6 17% 257 225 14% 16 16 0% 160 187 -14% Long Beach 90805 36 58 -38% 248 235 6% 8 6 33% 258 286 -10% Long Beach 90806 21 19 11% 304 290 5% 1 5 -80% 314 270 16% Long Beach 90807 18 17 6% 393 470 -16% 11 11 0% 222 125 78% Long Beach 90808 31 42 -26% 413 450 -8% 1 2 -50% 424 508 -17% Long Beach 90810 17 20 -15% 260 265 -2% 3 3 0% 230 130 77% Long Beach 90813 9 10 -10% 239 250 -4% 11 8 38% 176 252 -30% Long Beach 90814 8 7 14% 634 529 20% 3 6 -50% 145 316 -54% Long Beach 90815 24 25 -4% 440 510 -14% 7 4 75% 290 265 9% Long Beach - Belmont Shore 90803 6 5 20% 604 675 -11% 8 5 60% 366 280 31% Lynwood 90262 25 33 -24% 248 235 6% 1 2 -50% 275 222 24% Malibu 90265 9 5 80% 852 2,333 -63% 3 4 -25% 378 546 -31% Manhattan Beach 90266 17 19 -11% 1,180 1,385 -15% 5 3 67% 1,010 975 4% Marina del Rey 90292 2 1 100% 968 1,471 -34% 18 33 -45% 625 502 25% Maywood 90270 4 8 -50% 222 211 5% 2 1 100% 248 368 -33% Mission Hills 91345 9 16 -44% 326 328 -1% 1 2 -50% 245 218 12% Monrovia 91016 20 35 -43% 500 457 9% 5 4 25% 430 426 1% Montebello 90640 18 18 0% 322 360 -11% 11 13 -15% 332 195 70% Monterey Park 91754 8 9 -11% 342 495 -31% 8 5 60% 382 365 5% Monterey Park 91755 11 7 57% 390 450 -13% 4 12 -67% 315 482 -35% Montrose 91020 1 4 -75% 430 395 9% 1 2 -50% 467 400 17% Newhall 91321 12 19 -37% 392 410 -4% 6 14 -57% 158 169 -7% North Hills 91343 24 26 -8% 340 380 -11% 20 17 18% 202 185 9% North Hollywood 91601 11 6 83% 445 372 20% 5 11 -55% 349 390 -11% North Hollywood 91602 8 5 60% 689 625 10% 14 8 75% 391 328 19% North Hollywood 91605 25 32 -22% 290 300 -3% 7 8 -13% 270 292 -8% North Hollywood 91606 18 19 -5% 335 310 8% 5 6 -17% 262 177 48% Northridge 91324 13 12 8% 360 485 -26% 4 2 100% 295 306 -4% Northridge 91325 9 17 -47% 450 460 -2% 7 9 -22% 305 285 7% Northridge 91326 25 22 14% 590 581 2% 12 12 0% 415 395 5% Norwalk 90650 50 70 -29% 277 279 -1% 11 8 38% 180 248 -27% Pacific Palisades 90272 20 11 82% 1,228 1,625 -24% 8 1 700% 712 795 -10% Pacoima 91331 48 60 -20% 250 250 0% 8 16 -50% 146 144 1% Palmdale 93550 69 100 -31% 120 125 -4% 19 20 -5% 102 91 12% Palmdale 93551 78 87 -10% 205 220 -7% 7 9 -22% 172 155 11% Palmdale 93552 52 87 -40% 138 152 -9% 5 9 -44% 138 125 10% Palmdale 93591 9 13 -31% 70 68 3% 2 0 N/A 76 N/A N/A 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

APRIL 11, 2011 REAL ESTATE LOS ANGELES BUSINESS JOURNAL 35

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

Median Price Median Price Home Sales Percent (thousands) Percent Condo Sales Percent (thousands) Percent Community ZIP Code 2011 2010 Change 2011 2010 Change 2011 2010 Change 2011 2010 Change Palos Verdes Estates 90274 25 26 -4% $1,441 $1,016 42% 2 3 -33% $580 $482 20% Panorama City 91402 23 20 15% 265 278 -5% 24 14 71% 138 158 -13% Paramount 90723 11 7 57% 215 220 -2% 14 11 27% 142 120 18% Pasadena 91103 18 15 20% 345 305 13% 5 4 25% 445 435 2% Pasadena 91104 13 20 -35% 520 554 -6% 0 4 N/A N/A 360 N/A Pasadena 91105 7 8 -13% 965 850 14% 5 3 67% 650 675 -4% Pasadena 91106 11 4 175% 807 802 1% 12 15 -20% 454 390 16% Pasadena 91107 25 17 47% 585 629 -7% 5 7 -29% 425 430 -1% Pearblossom 93553 2 0 N/A 115 N/A N/A 1 0 N/A 110 N/A N/A Phillips Ranch 91766 34 46 -26% 198 218 -9% 10 10 0% 156 178 -12% Pico Rivera 90660 30 39 -23% 264 280 -6% 1 2 -50% 380 226 68% Playa del Rey 90293 4 0 N/A 1,020 N/A N/A 3 0 N/A 319 N/A N/A Pomona 91767 24 35 -31% 218 225 -3% 6 9 -33% 158 255 -38% Pomona 91768 24 24 0% 216 195 11% 1 4 -75% 205 178 15% Rancho Palos Verdes 90275 24 25 -4% 866 890 -3% 3 5 -40% 350 495 -29% Redondo Beach 90277 13 17 -24% 780 825 -5% 15 23 -35% 500 615 -19% Redondo Beach 90278 17 7 143% 670 571 17% 20 36 -44% 534 590 -9% Reseda 91335 34 42 -19% 311 338 -8% 10 16 -38% 251 222 13% Rosemead 91770 17 24 -29% 435 385 13% 4 4 0% 315 522 -40% Rowland Heights 91748 19 29 -34% 355 425 -16% 1 3 -67% 335 250 34% San Dimas 91773 18 21 -14% 392 418 -6% 0 3 N/A N/A 230 N/A San Fernando 91340 11 21 -48% 250 240 4% 1 6 -83% 198 166 19% San Gabriel 91775 10 20 -50% 498 553 -10% 1 1 0% 780 425 84% San Gabriel 91776 10 9 11% 422 425 -1% 6 7 -14% 374 325 15% San Marino 91108 5 7 -29% 1,830 1,700 8% 0 0 N/A N/A N/A N/A San Pedro 90731 14 20 -30% 424 382 11% 3 10 -70% 285 328 -13% San Pedro 90732 7 14 -50% 445 492 -10% 10 10 0% 304 320 -5% Santa Clarita 91350 24 35 -31% 349 360 -3% 12 11 9% 260 317 -18% Santa Clarita 91390 10 17 -41% 512 470 9% 0 4 N/A N/A 289 N/A Santa Fe Springs 90670 10 8 25% 265 321 -17% 3 4 -25% 340 255 33% Santa Monica 90402 4 4 0% 2,185 1,465 49% 1 0 N/A 875 N/A N/A Santa Monica 90403 2 0 N/A 1,228 N/A N/A 12 0 N/A 797 N/A N/A Santa Monica 90404 2 3 -33% 558 665 -16% 11 7 57% 487 535 -9% Santa Monica 90405 7 7 0% 946 745 27% 10 9 11% 682 720 -5% Sherman Oaks 91403 7 16 -56% 805 668 21% 10 3 233% 282 250 13% Sherman Oaks 91423 12 12 0% 678 817 -17% 7 8 -13% 348 496 -30% Sierra Madre 91024 6 6 0% 564 752 -25% 4 1 300% 455 555 -18% Signal Hill 90755 8 6 33% 583 530 10% 4 6 -33% 385 363 6% South Gate 90280 43 43 0% 245 250 -2% 6 3 100% 290 230 26% South Pasadena 91030 8 8 0% 788 866 -9% 5 6 -17% 379 500 -24% Stevenson Ranch 91381 18 16 13% 550 745 -26% 11 9 22% 297 320 -7% Studio City 91604 13 17 -24% 1,070 839 28% 12 12 0% 465 468 -1% Sun Valley 91352 19 22 -14% 270 244 11% 4 8 -50% 165 174 -5% Sunland 91040 18 20 -10% 308 375 -18% 4 2 100% 363 339 7% Sylmar 91342 48 62 -23% 325 305 7% 17 31 -45% 179 230 -22% Tarzana 91356 16 18 -11% 832 730 14% 15 16 -6% 165 196 -16% Temple City 91780 24 23 4% 526 525 0% 2 4 -50% 370 628 -41% Topanga 90290 3 6 -50% 900 1,025 -12% 1 0 N/A 260 N/A N/A Torrance 90501 9 11 -18% 489 424 15% 7 10 -30% 495 449 10% Torrance 90502 5 8 -38% 365 310 18% 12 13 -8% 235 225 4% Torrance 90503 15 20 -25% 584 628 -7% 10 8 25% 396 450 -12% Torrance 90504 9 16 -44% 440 498 -12% 4 4 0% 374 478 -22% Torrance 90505 9 14 -36% 651 675 -4% 7 5 40% 380 585 -35% Tujunga 91042 26 14 86% 302 305 -1% 4 2 100% 348 330 5% Valencia 91354 19 22 -14% 453 457 -1% 18 18 0% 335 348 -4% Valencia 91355 18 22 -18% 378 410 -8% 13 18 -28% 230 276 -17% Valley Village 91607 9 19 -53% 600 601 0% 7 11 -36% 285 300 -5% Van Nuys 91401 16 18 -11% 446 516 -14% 11 13 -15% 360 316 14% Van Nuys 91405 17 23 -26% 310 300 3% 6 12 -50% 126 174 -28% Van Nuys 91406 31 26 19% 329 336 -2% 13 9 44% 195 215 -9% Van Nuys 91411 11 10 10% 450 570 -21% 3 3 0% 146 385 -62% Venice 90291 14 14 0% 720 820 -12% 3 5 -40% 595 682 -13% Walnut 91789 31 35 -11% 583 537 9% 0 10 N/A N/A 262 N/A West Covina 91790 25 24 4% 345 373 -8% 1 2 -50% 235 232 1% West Covina 91791 13 13 0% 395 446 -11% 6 1 500% 234 195 20% West Covina 91792 17 25 -32% 365 350 4% 9 8 13% 245 218 12% West Hills 91307 21 22 -5% 432 480 -10% 3 1 200% 375 265 42% Westlake Village 91361 13 11 18% 639 775 -18% 5 4 25% 238 380 -37% Westlake Village 91362 27 20 35% 575 748 -23% 12 18 -33% 420 362 16% Whittier 90601 17 19 -11% 380 360 6% 5 4 25% 380 295 29% Whittier 90602 19 10 90% 286 315 -9% 3 2 50% 370 330 12% Whittier 90603 9 8 13% 490 378 30% 0 1 N/A N/A 185 N/A Whittier 90604 18 22 -18% 336 346 -3% 4 5 -20% 214 240 -11% Whittier 90605 20 23 -13% 308 325 -5% 3 1 200% 306 275 11% Whittier 90606 18 18 0% 270 280 -4% 1 3 -67% 330 330 0% Wilmington 90744 19 17 12% 265 256 4% 4 5 -20% 228 260 -12% Winnetka 91306 24 28 -14% 326 355 -8% 15 19 -21% 160 160 0% Woodland Hills 91364 26 40 -35% 556 510 9% 3 3 0% 465 375 24% Woodland Hills 91367 16 25 -36% 547 520 5% 19 17 12% 255 264 -3% 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36 LOS ANGELES BUSINESS JOURNAL REAL ESTATE APRIL 11, 2011 Music Publisher Notes Popularity of Miracle Mile overlooking the city, as corporate offices. Bug a group of 10 local and state infill builders for- LEASE: Neighborhood has Music will receive building-top and entryway REAL ESTATE mally launched late last month an association become home to more signage upon its arrival later this year. to do just that. The company, which acquired the catalogs JACQUELYN RYAN California Infill Builders Association, a entertainment businesses. of two of the world’s largest independent statewide organization dedicated to education music publishers – Windswept Music Hold- and advocacy, held its commencement party in USIC publishing company Bug ings and Trio/Quartet – in 2007, is nearly relocate here due to its proximity to the Holly- Hollywood on March 31. Music Inc., which represents pop doubling its space from its current location at wood studios, area amenities and its central “We realized there was a missing voice in M stars such as Bruno Mars and holds 770 W. Sunset Blvd. access for employees,” said Lisa St. John, a Sacramento and in advocacy for local govern- nearly 250,000 copyrights, is moving its head- “It’s an expansion and rebirth for Bug,” principal at L.A. Realty Partners, who repre- ments to talk about the benefits of infill develop- quarters to the Miracle Mile. said Brad Feld, Madison Partners partner, who sented Beverly Hills-based Kennedy-Wilson, a ments,” said association President Meea Kang, The company signed an unusual six-year negotiated on behalf of the tenant with Senior publicly traded real estate investment company. co-founder of San Francisco-based Domus lease, valued at nearly $4 million, with land- Executive Director Chris Keller. L.A. Realty Principal Peter Best also repre- Development LLC. “We all believe that in lord Kennedy-Wilson Holdings Inc. for The company joins many other entertain- sented the landlord. order to keep up with California’s population 23,134 square feet of the penthouse and ment businesses on the Miracle Mile, including growth that we need to be building smarter, and ground floor of 6100 Wilshire Blvd., a 16- the Oprah Winfrey Network, which moved Building Up Infill in cities and towns to revitalize our cities.” story building. into 5700 Wilshire Blvd. late last year. The need for an organized and unified The association will lobby local and state gov- The company plans to convert the ground “We are beginning to see the leasing activi- voice for infill builders has become increasing ernments to streamline the approval and develop- floor into a recording studio and use the pent- ty pick up in the Miracle Mile submarket as apparent as more real estate developers work ment of infill projects, including possibly amend- house, which has floor-to-ceiling windows more creative and entertainment tenants look to in existing neighborhoods and downtowns. So ing the California Environmental Quality Act. “The issues they’d like to bring up are all the things that make infill complicated,” said Chris Redfearn, director of USC’s graduate programs in real estate. “They have a different perspective and it’s actually a useful one.” The group also plans to advocate on behalf of the state’s 425 redevelopment agencies, which Gov. Jerry Brown is seeking to elimi- nate as part of a budget-cutting plan. Though the association is based in San Francisco, the group has a large presence in Los Angeles. Three L.A. developers are board members: Mott Smith, principal at Civic Enterprise; John Given, principal of CIM Group; and Michael Dieden, founder of Cre- ative Housing.

Breaking Ground

HOPE STREET FAMILY CENTER 1600 Hope St., downtown Los Angeles

DEVELOPER: Abode Communities, an L.A. non-profit that has built dozens of affordable housing projects across Southern Cal- ifornia. PLANS: Hope Street Family Center is a $15.7 million, 26,500-square-foot community center that will be used by California Hospital Medical Center to provide social services. The building will have a two-story storefront with a stylized yellow frame and will be surrounded by a green fence. Fea- tures will include an outdoor basketball court, park and public art. FINANCING: $10.2 million raised from federal and state grants, and donations. Remaining financing being sought from private and institutional donors. COMPLETION: The four-story structure broke ground April 1, with construction expected to take 14 months. LOW INCOME: The project was developed under Community Redevelopment Agency guidelines to serve residents of downtown, Pico-Union and South Los Angeles, an area with low education levels, high domestic violence and high unemployment. To learn more, visit chase.com/commercial.

© 2011 JPMorgan Chase Bank, N.A. Member FDIC. “Chase” is a marketing name for certain businesses of JPMorgan Chase & Co. and its subsidiaries (collectively, “JPMC”). Staff reporter Jacquelyn Ryan can be reached 3URGXFWVDQGVHUYLFHVPD\EHSURYLGHGE\FRPPHUFLDOEDQNLQJDI¿OLDWHVRURWKHUHQWLWLHV at [email protected] or at (323) 549-5225, ext. 228. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

APRIL 11, 2011 LOS ANGELES BUSINESS JOURNAL 37 Investment Properties For Sale COMMERCIAL COMMERCIAL

2 101 8 single tenant triple net leased investment FOR SALE W. 3rd Dodger 5 gaming/tavern properties with new 15 year leases RETAIL CENTER/ WILSHIRE Stadium in Las Vegas Nevada for $20,555,000 or better? DOWNTOWN LA ADJ. BLVD. 10 Net income of approximately $1,750,000. • 7,000 s.f. – 4 tenants Strong Guarantor with very high net worth, 100% leased 1 call TPG Co. at 702-873-1050. • $1,950,000 LOS ANGELES COUNTY VENTURA COUNTY FIGUEROA FLOWER ◆ C. Holland/J. Pickett Santa 10 The Pacific Group

(310) 478-7700 Clarita ALAMEDA 60 (702) 873-1050 110

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38 LOS ANGELES BUSINESS JOURNAL APRIL 11, 2011 BUSINESS MARKETPLACE FINANCIAL SERVICES CAREER SERVICES

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APRIL 11, 2011 LOS ANGELES BUSINESS JOURNAL 39 BUSINESS MARKETPLACE BUSINESS OPPORTUNITIES EMPLOYMENT OPPORTUNITIES Bookkeeper Needed - Downtown location

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APRIL 11, 2011 LOS ANGELES BUSINESS JOURNAL 41 Clothing: Charney Stands by American Apparel

Continued from page 1

Known for its basic T-shirts and hipster clothes, American Apparel is struggling to recover from the recession, deal with rising raw materials costs, and hire and train replace- ment workers. But it also has been hinted that Charney may ‘I’m going to be one no longer have his finger on the pulse of fashion. of the billionaires in This much is certain, Bank of America Los Angeles one day. and Bank of Montreal have given the compa- I’m only 42 years old. ny until April 30 to prove it’s able to continue operating or they could call in their balances I have time still to on American Apparel’s revolving credit facili- prove my point.’ ties, which so far have been drawn down by DOV CHARNEY, $57.4 million. The company said in regulatory filings that it American Apparel may have to file for bankruptcy if business doesn’t improve, even though in his interview Charney ‘I’m as supportive said rising sales could change everything. The turbulence is reflected in a stock price and respectful of the that at its height hit $15.80 in 2007, but hov- American Apparel ered at 80 cents last week. brand today as I’ve On top of it all, Charney has had to deal with ever been. I’m happy the fallout from additional sexual harassment lawsuits, the most recent from yet another young with my investment in former employee. She appeared on the “Today” American Apparel.’ show in late March to accuse the American LYNDON LEA, Apparel chief of physically attacking her. Charney was unrelenting in his defense of Lion Capital himself and his company during the interview, aside from acknowledging a lack of experience ‘Dov has staffed this running a public company. (He eventually heeded calls for a change in management, hir- company with stylish, ing a team of veteran executives.) beautiful, quick- He even boasted that not only will he turn thinking, fun people. around the downtown L.A. apparel manufac- People are passionate turer and retailer, but he is going to join L.A.’s shortlist of uberbusinessmen in the process. about the brand.’ “I’m going to be one of the billionaires in MARTY STAFF, Los Angeles one day,” Charney said. “I’m American Apparel only 42 years old; I’m very young for what I’ve done. I don’t know anyone else in my age category in apparel, most of the guys that are at my level are in their 60s. So I have time still CEO’s Seat: Dov Charney at to prove my point.” American Apparel’s facility in downtown Los Angeles. Talking points RINGO H.W. CHIU/LABJ The two-hour interview was conducted last week at American Apparel’s headquarters, ney might singlehandedly save American Appar- utive John Luttrell as executive vice president suits in the mid-2000s that were either dis- where Charney went from speeding through el from its short-term cash crunch by pumping in and chief financial officer, and former Block- missed or settled. Two current ones include a the company’s 800,000-square-foot factory, several millions from his personal fortune in the buster Chief Financial Officer Tom Casey as second young woman who claims she was inspecting garments and personally directing coming weeks. He declined to comment. acting president. Industry veteran Georges physically attacked by Charney. employees, to munching on peanuts and pista- Charney, American Apparel’s single largest Atlan recently joined as director of denim. Charney declined to discuss the specific chios before devouring a grilled-cheese sand- shareholder, increased his stake to 57 percent Charney and his new executive team are allegations, but he and the company have wich, salad and chicken nuggets. earlier this month by buying 1.8 million shares now working nights and weekends – they’ll vociferously denied them. His attorneys have Outfitted in an American Apparel polo shirt at a premium and converting $4.7 million in tell you working with Charney isn’t a 9-to-5 called them an attempt to shake down Charney and striped white and blue pants, Charney notes he held on the company into equity. job – to get American Apparel back into the and American Apparel. kicked off his boat shoes after the meal and sat Meanwhile, he has developed a strong rela- black after the company reported a net loss of Lion Capital’s Lea is standing behind Char- down in his seventh-floor office, where he tionship with Lyndon Lea, a partner and co- $86 million last year. ney, even though he admitted that the accusa- expressed an us-versus-them perspective. founder of London investment firm Lion Cap- “If you want a 9-to-5 job, this is probably tions aren’t a pleasant topic for any company “I don’t want the company to get taken ital – a key lender that previously rescued not the right company,” Staff said. “But if you or brand to be associated with. advantage of by corporate forces or government American Apparel with an $80 million loan in are passionate about clothes and stuff, it’s a “It concerns me as a lender. It concerns me as forces or get taken advantage of by the lawsuit 2009 when the company’s problems were real- great place.” a human being,” Lea said. “Far be it from me to culture,” Charney said. “There’s a lot of sharks ly getting serious. Charney believes sales, which dropped 4.6 get myself embroiled in anything to do with this. out there, there’s a lot of greed. I want to push Lea and Lion co-founder Neil Richardson percent last year compared with 2009, will rise I’ve heard Dov’s versions of events and it seems that back, to keep the thing on course and make resigned from American Apparel’s board earlier as the company rolls out new products. He’s somewhat compelling to me, his version.” sure my workers are protected. I want an oppor- this month, a move that led to speculation in the already been working to boost sales by making The company’s attorneys are fighting to tunity for my shareholders, and I want to try and press that the firm is getting frustrated with more sophisticated clothing such as button- resolve the lawsuits, filed earlier this month in balance all of those constituencies.” Charney. However, Lea told the Business Jour- down shirts, lace and chiffon dresses, and New York and Los Angeles state courts, American Apparel is not the same fast- nal that wasn’t so, saying the resignation would woven sweaters. through confidential arbitration. growing company Charney took public four resolve certain conflicts of interest for the lender, Meanwhile, Staff is exploring other ways the American Apparel’s success has been dri- years ago. After opening 273 stores in 20 which is also a creditor of American Apparel. company can drive business, including whole- ven by provocative advertising campaigns, countries, things have slowed. “I’m as supportive and respectful of the Amer- saling American Apparel-branded clothes to often conceived and shot by Charney, featur- The recession resulted in sales declines, ican Apparel brand today as I’ve ever been. I’m larger retailers and department stores. Another ing half-clothed models. More recently, the exacerbated by cotton’s rising cost and other happy with my investment in American Apparel possibility is opening shops within shops similar models have appeared topless in some ads. problems. There’s even mention of closing a and I believe there’s an upside,” Lea said. to what the company has done at two Paris and Charney conceded that American Apparel’s handful or so of underperforming stores. “Dov and I talk once or twice every single London department stores. image could be used against him in lawsuits, Most significantly, the struggles have led to day. There’s no hostility between us whatsoever.” He’s bullish on American Apparel’s but he doesn’t regret marketing the company cash issues for American Apparel, which has prospects. with sex. Nor does he ever plan to change his hired investment bank Rothschild Group to New team “Dov has staffed this company with stylish, bachelor lifestyle, which he has admitted find sources of capital. Still, Charney believes Charney recently surrounded himself with beautiful, quick-thinking, fun people,” Staff involved sexual relationships with younger the company will see an uptick in sales as it some experienced executives, which he said. “This is not a normal organization. Peo- female employees. launches a line of women’s jeans and Keds- acknowledged were pushed for by the compa- ple are passionate about the brand, and about “We are a free society,” he said. “Of course style canvas shoes. ny’s board. Dov and about the product.” it would be better if we never take chances, it “Getting more capital, that’s in the realm of He hired former JA Apparel Corp. Chief would be best if we wore a straight jacket in a possibilities,” he said. “We also think that if the sea- Executive Marty Staff as chief business devel- Sexually charged locked white room with no interactions. We son is good, the cash flow will be less ominous.” opment officer earlier this month. That fol- Still, there is the issue of the sexual harass- could live a lot longer in captivity. But it’s live A source familiar with the situation said Char- lowed the additions of former Old Navy exec- ment lawsuits. Charney was hit with a wave of free or die.” 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

42 LOS ANGELES BUSINESS JOURNAL APRIL 11, 2011 Entertainment: RealD Seeks Blockbuster Summer

Continued from page 1

to be overconfident, including the fact that its success is tied to how well the films go over with the public. A spate of 3-D box office flops, including “The Clash of the Titans” and “Piran- ha 3-D,” pushed its stock price down last year. Then there are the growing number of rivals ‘Three-D is the only that want a piece of its business and are devel- area we focus on, and oping sometimes competing technologies. you have to reinvent For all its success, RealD has its projectors yourself. Every morning set up to play on only about 10 percent of the world’s 150,000-plus screens worldwide. Its you have to wake competitors have smaller portions, but the up and essentially playing field remains big enough for all play- beat yourself.’ ers to grab more market share. RealD founder and Chief Executive Michael MICHAEL LEWIS, RealD Lewis isn’t unaware of the challenges, even as he boasts the company has superior technology. “Three-D is the only area we focus on, and you have to reinvent yourself,” Lewis said. “Every morning you have to wake up and essen- RINGO H.W. CHIU/LABJ tially beat yourself.” The company got a huge head start on its But it’s facing competition from some big- doubt RealD has competition on its hands. 2010, and moviegoers have demonstrated that rivals by being first to market with contempo- ger rivals, including Dolby Laboratories Inc. He’s particularly impressed with MasterImage, they are not willing to shell out the extra $3 or $4 rary 3-D projection technology in 2005. It has and Imax Corp. Another competitor is Mas- which has a technology similar to RealD that cost for a 3-D ticket to a movie with poor buzz. 8,600 3-D systems installed in the United terImage, a Hollywood company with strong works with disposable glasses and existing 2-D RealD felt the sting of this last fall shortly States and Canada, and 6,500 internationally. South Korean ties that has 3-D projections sys- screens, as long as they are silver. after its launch as a public company, when RealD leads the field thanks to agree- tems installed in 3,000 theaters worldwide. “My sense is the market is narrowing,” said shares traded above $19. The company’s stock ments with major U.S. chains AMC, Cine- (See related article.) Marsh. “It’s really a horse race between RealD fell as low as $15.63 in late September, after mark and Regal. Its international installations San Francisco-based Dolby has long been and MasterImage.” “Clash of the Titans,” “Piranha” and “The Last are in theaters owned by the top 15 exhibi- the dominant force in theater audio and is In addition, he called Dolby a player Airbender” all bombed. So far this year, 3-D tion groups in the world. angling to play more than a supporting role in because of its great brand recognition, but films “Mars Needs Moms” and “Drive Angry The installations were fueled by big deals theatrical 3-D. It has shipped 7,700 of its 3-D noted that so far exhibitors haven’t taken a 3D” have also been flops. Nevertheless, shares with the chains, some of which have gone digital cinema systems, making it the No. 2 liking to the technology, which works on vir- were trading at about $28 last week, perhaps in from having one 3-D theater per multiplex to player worldwide. tually any existing screen but requires more investor anticipation of summer hits. five or six in anticipation of the 37 films in 3-D expensive glasses. “It’s a content issue,” Lewis said.“The last being released by Hollywood this year. RealD Inc. (NYSE: RTK) “They have a technology that exhibitors couple quarters there have been a number of The company said it hopes to maintain a Beverly Hills FRI. CLOSE, PAST 5 WKS aren’t really embracing,” Marsh said. films that haven’t connected with the audience. 28 pace of installing at least 2,000 systems a quar- CEO: Michael Lewis 27 Meanwhile, MasterImage and Japanese We are very realistic about this. We make a ter, but Martin Pyykkonen, an analyst with Employees: 74 Apr. 6: $27.96 26 electronics giant Toshiba are working on movie better, we don’t correct stories that peo- Wedge Partners Corp., said that RealD may 25 developing glasses-free technology. MasterIm- ple don’t want to see. As long as the filmmak- Market Cap: $1.43 billion 24 be hard-pressed to continue such a torrid pace, 23 age is starting out small with cell phone ers do good 3-D, then I think this is a real ter- even aside from rivals and the box office per- P/E*: N/A 22 screens, while Toshiba just announced that it rific business.” 21 formance of 3-D films. EPS: -$1.07 3/4 3/11 3/18 3/25 4/1 expects to launch glasses-free technology for The established franchise films coming out By the start of the summer, the analyst expects *Twelve months trailing. Source: Yahoo Finance 3-D TV sets 40 inches or bigger within the this summer, plus hotly anticipated titles such some chains will be 40 percent 3-D capable. next 12 months. as “Green Lantern,” “Thor” and “Captain “My feeling is (the theaters) won’t go Toronto-based Imax, which is known for its Lewis declined to address any rival technol- America,” could provide a real boost to beyond that; they will pause there awhile big-screen theaters using larger film stock, has ogy specifically. But he likes to boast that RealD’s bottom line. Indeed, the phenomenal before going another step up,” Pyykkonen made inroads in one of the world’s largest and RealD projectors deliver twice the amount of success of “Avatar” followed by last year’s said. “Until studios are releasing 75 percent of fastest-growing theater markets, China. Imax light to the screen as other systems, and the hits “Alice in Wonderland” and “Toy Story 3” their product in 3-D, we will still have a decent sealed a deal with the country’s biggest movie company has developed technology designed show the audience will show up for the right amount of 2-D output.” theater operator to build 75 theaters by 2014. for big-screen auditoriums with stadium seating. kind of movies. In addition, Eastman Kodak Co. joined It also is investing in glasses-free 3-D technolo- “From a moviegoer perspective, it’s not the Competitors the mix last fall. The Rochester, N.Y., compa- gy, which RealD sees as being at least five to 10 reason people go to a movie,” said Paul Der- RealD is a lean operation. It has just 74 ny announced that its laser projection technol- years away from becoming mainstream. garabedian, box office analyst for movie indus- total employees, who work at its corporate ogy can deliver both 2-D and 3-D images in try website Hollywood.com. “But if it’s there, headquarters on Wilshire Boulevard; an R&D crystal-clear digital cinema. Box office they will generally choose to see the movie in facility in Boulder, Colo.; and offices in Lon- James Marsh, an analyst with Minneapolis- Meanwhile, domestic box office grosses are 3-D – especially family films and genre films don, Shanghai, Hong Kong and Tokyo. based Piper Jaffray & Co., said that there is no down 20 percent year to date compared with where it enhances the visuals.” Technology: Glasses Come Off in Fight Over 3-D those images appear as one 3-D picture. Continued from page 1 Currently, glasses-free 3-D works best when someone views it on a steady small Samsung to boost its R&D. screen at eye level. As such, MasterImage “It’s a wonderful endorsement,” said Roy plans to use its technology first on cell phones, Taylor, MasterImage executive vice president tablets, and screens in airplanes and vehicles – of 3-D mobile display, of the investment. “We but eventually it could move to home TV sets want to do even more with the technology in and big screens at movie theaters. the future. Our ambition is to have (glasses- Cell phone makers are interested in Master- free) 3-D on every screen.” Image’s technology; Tokyo’s Hitachi Ltd. was MasterImage has installed 3,000 traditional the first to use it when it launched the Wooo 3-D systems requiring glasses in theaters phone in March 2009. But there wasn’t enough worldwide, giving it the third largest market 3-D content, so the phone didn’t take off. Now, share behind Beverly Hills-based RealD and with a profusion of 3-D movies and videos, a San Francisco’s Dolby Laboratories Inc. new round of 3-D devices is rolling out. But if it can develop its glasses-free tech- Several phone companies, including nology for the big screen, that would be a Seoul’s LG Electronics and Taoyuan, Tai- game changer that could vault it into techno- wan’s HTC Corp., showcased glasses-free 3- logical leadership. D phones at the Consumer Electronics Show in The technology works like this: MasterImage Las Vegas earlier this year. In February, puts an optical layer on top of the screen that Kyoto, Japan’s Nintendo began selling a 3-D

breaks up the picture in a way that shows two pic- RINGO H.W. CHIU/LABJ tures to the viewer’s right and left eye. Together, Please see 3-D page 43 Dialed In: Younghoon Lee with a 3-D phone at MasterImage’s Hollywood office. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

APRIL 11, 2011 LOS ANGELES BUSINESS JOURNAL 43

“This is an opportunity to bring transparency and data to the table in a 3-D: Company way that levels the playing field and helps the buyer. (TrueCar) actually has a real opportunity to change the way people buy cars forever.” Makes Most SCOTT PAINTER, TrueCar Inc. of Korean Tie

Continued from page 42

version of its portable game console that doesn’t require glasses. Apple Inc. is also rumored to be considering 3-D for upcoming versions of the iPhone, iPad and iPod. All in all, MasterImage is in talks with more than 40 companies and will have its technology on new devices by the holiday season. Victoria Fodale, a senior analyst for mobile devices at ABI Research in Scottsdale, Ariz., said 3-D without glasses will likely be a hit with cell phone and tablets users. “Mobile is in a unique position to bring 3-D to a mass market,” she said. “Three-D isn’t compelling enough that you’ll get rid of that flat-screen television, but with mobile, the upgrade cycle is 12 to 18 months.”

Seoul start Chief Executive Younghoon Lee founded MasterImage in Seoul in 2004, and two years later the company installed its first 3-D cinema systems in local movie theaters. The majority of the company’s business still comes from its 3-D cinema systems, which are installed in more than 60 countries. Last month, MasterImage inked a deal with Cinema City International, the third largest multiplex theater operator in Europe, to install 60 more systems. RINGO H.W. CHIU/LABJ In the Driver’s Seat: Scott Painter, founder of TrueCar.com, at his Santa Monica offices. ‘Three-D isn’t compelling enough that you’ll get rid of that flat-screen television, but with mobile, the upgrade Marketing: Car Site Shifts Ad Gears cycle is 12 to 18 months.’ today through e-mail, search and display ads. “Anytime you take a product to the masses VICTORIA FODALE, ABI Research Continued from page 1 However, its companion site Zag has found your opportunity to be successful is greater,” niche success by partnering with the Automo- said Expert Marketing’s Manfe. that can be used as sales leads. bile Association of America. However, unlike The campaign will target people who are The company’s 3-D cinema systems use a Comparable companies like Kelly Blue Zag, which restricts access to its site to affini- in the market to buy a car and not feature technology called a polarized filter disc, which Book Co. Inc. make money from selling ty groups, TrueCar is open to the public. advertising for the sake of the brand. But nei- sits in front of a projector lens and spins rapid- dealers the personal information of its site vis- The website sees 650,000 unique visitors a ther company would say what the advertise- ly. That sends different images to the viewer’s itors, but TrueCar makes its money by charg- month. Online car sales site CarMax Inc. ments would include. Based on previous cam- left and right eyes. When a person wears polar- ing a dealer $300 for each car sale the site reports seeing about 5.5 million unique visi- paigns, it’s more than likely a famous face ized glasses, those images appear in 3-D. facilitates. TrueCar customers must ultimately tors a month. will be attached. Lee moved the company’s headquarters to provide personal information to either accept Last month, TrueCar facilitated the sales Hollywood in October to be closer to the city’s a dealer’s lowest posted offer. of approximately 20,000 cars, Painter said. Natural investment entertainment community and California’s tech- The site is the brainchild of Painter, whose That’s more cars than the largest publicly Guthy-Renker is diversifying its portfolio nology centers. The office is on the fourth floor 36 other startups have also mostly been in the traded online car sales company, AutoNation for the first time in years. Until now, its of a Raleigh Studios building across the street automotive industry. They include first-gener- Inc., sells on an average month. clients have been predominantly in the health from Paramount Studios. Twenty employees ation online car site CarsDirect.com and 1- AutoNation controls just more than 1 per- and skin care industries. work out of that location, while an additional 80 800-Car-Search, both of which were bought cent of the car sales market. Painter said he Founded in Palm Desert in 1988 by Bill employees remain in Seoul. With the Samsung by larger companies. He currently operates a believes he can eventually corner 10 percent Guthy and Greg Renker, the company gener- funding, MasterImage plans to hire up to 50 more site similar to TrueCar called Zag.com, of the market in America. ates about $1.8 billion in sales a year from 17 employees in Los Angeles, many of whom will which is not open to the public. But competition is stiff. There are dozens products, which include the Malibu Pilates focus on the company’s glasses-free offerings. The five-year-old TrueCar had its first of comparable private online auto sales com- machine and “Dean Martin Variety Show” MasterImage sells its systems to theaters profitable year last year, generating $40 mil- panies like Santa Monica-based DVDs. The products reach up to 61 countries. for a flat fee, while RealD gets a modest instal- lion in revenue. It is preparing to expand ser- Edmunds.com Inc. and AutoTrader.com The company also controls dozens of 1-800 lation fee and then takes a percentage of the vices nationwide as well as open similar web- Inc. In addition, there are 10 publicly traded numbers. ProActiv Acne Solutions, its most box office, making it more dependent on the sites for car loans and car trade-ins. The com- auto sales companies with large online pres- successful venture, has brought in about $800 popularity of current release. MasterImage did pany also plans to announce two acquisitions ences such as AutoNation and CarMax. million in sales. not provide its pricing for this article. within the next couple of months. “I don’t know how many people know Much of its success has come from work- Philip Lelyveld, program manager for the “This is an opportunity to bring trans- about TrueCar right now,” said Bill Magari- ing with entrepreneurs, so TrueCar –and Scott Consumer 3-D Experience Program at USC’s parency and data to the table in a way that ty, president of Inglewood-based Two Painter – felt like a natural investment for Entertainment Technology Center, said Mas- levels the playing field and helps the buyer,” Minute Marketing. “It certainly could help Guthy, Van De Bunt said. terImage is a serious challenger to RealD, said Painter. “(TrueCar) actually has a real for Guthy-Renker to use their magic in “It’s exciting to see new services enter which uses disposable glasses and a similar opportunity to change the way people buy something national.” into mature markets,” he said. “It’s exciting projection technology that works on silver 2-D cars forever.” The advertising campaign will begin with to be part of something that has the chance screens. (Dolby’s system requires more expen- a series of radio commercials in four markets to be so big.” sive glasses but works on virtually any screen.) Facilitating growth across the United States at the end of the The timing for a new investment also “RealD was the first entrant into the space, Louise Manfe, director of marketing for month. It will eventually grow to 16 markets appears right. Vehicle sales in general and but MasterImage is coming on strong world- L.A. consultancy Expert Marketing, said the across the country. In three months, the cam- online sales specifically have been picking wide,” he said. deal could spur big growth for TrueCar. paign will feature several 30- to 90-second up. Both Auto Nation and CarMax reported Peter Koplik, MasterImage’s president of dig- “It’s smart of them to do this. They are the TV commercials. increased demand by up to 30 percent in the ital cinema, said the company would like to have first ones out to market with something like Some time early next year, Guthy-Renker fourth quarter for compact and midsize cars. glasses-free technology for movie theaters in the this. There are going to be a lot of people to plans to test its signature 90- to 120-minute “Everything (Guthy-Renker) has touched future, but acknowledged that it will be a long follow,” Manfe said. “Amazon is king infomercials for the TrueCar site. Painter has made money,” Painter said. “Having that time before 3-D technology can leap that far. because they were first to market with it. and analysts anticipate the ad campaign is skin in the game is a powerful statement “There’s a tremendous amount of research and There’s a lot of wealth in that.” the key to turning the local startup into a about where we are headed and how valuable development to do it,” he said of glasses-free 3-D. TrueCar advertises exclusively on the web national brand. we can be.” 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

44 LOS ANGELES BUSINESS JOURNAL APRIL 11, 2011

L.A. BIZ SEEN Los Angeles business events

From left, Christine Essel, Community Redevelopment Agency Los Angeles CEO; Greg Lippe, Gregory N. Lippe Accountancy Corp. principal; and Coby King, Guests at the Riordan Programs Alumni Association’s Feb. 24 MWW Group senior vice president; at the Valley Industry and Commerce Association’s Los Angeles Diversity Mixer at Kress nightclub in Hollywood. March 23 Newsmaker Connection event in Sherman Oaks.

From left, Gary Glant, Glant Textiles Corp. CEO, and Rocky La Fleur, Attendees at the Southern California Minority Business Development Council’s Kneedler-Faucher principal, the March 3 grand opening of Antonio's Bella Feb. 24 Minority Business Opportunity Day at the Pacific Palms Conference Casa in West Hollywood. Resort in the City of Industry.

Roosevelt and Franklin elementary L.A. Biz Seen school fifth-graders publishes from the Ballroom photographs of Madness program business-related perform at the Santa events in Los Monica Chamber of Angeles, including Commerce’s March parties, awards 19 Buy Local Day dinners, benefits and at the Third Street other celebrations. Promenade in Please e-mail Santa Monica. photographs to newsdesk@ labusinessjournal. com with “photographs” in the subject line. Please include contact information.

Compiled by Tom Hicks 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

APRIL 11, 2011 INDEX LOS ANGELES BUSINESS JOURNAL 45

‘It’s weird to be ‘Once he started ‘It never leaves recognized when riding our bikes, you. It’s with you I’m walking business really all the time.’ around.’ blew up.’ ROBERT SHAPIRO, JOSH ALTMAN, AMIR DAROUBAKHSH, Glaser Weil, Hilton & Hyland, Retrospec Bicycles, on the death on his reality on soccer’s of his son, TV show fame, David Beckham, PAGE 15 PAGE 3 PAGE 3

PEOPLE Collins, Sheldon ...... 5 Hampar, Kathy ...... 47 McCarthy, Dennis ...... 6 S Criteser, Patrick ...... 12 Handy, Steve ...... 5 McLeod, Dane ...... 12 Saltman, Jonathan ...... 10 A Huang, Marlo ...... 8 Morgan, Michael ...... 3 Shapiro, Linell ...... 15/16 D Akerlof, Will ...... 8 Shapiro, Robert ...... 15/16 Darling, Brian ...... 46 K Alexander, Ely ...... 3 N Simpson, O.J...... 15/16 Daroubakhsh, Amir ...... 3 Kang, Meea ...... 36 Altman, Josh ...... 3 Najarian, Ara ...... 47 Smith, Mott ...... 36 Dergarabedian, Paul ...... 1/42 Kardashian, Kim ...... 3 Appleton-Young, Leslie ...... 32 Nguyen, Juliet ...... 4 Smith, Sam ...... 46 DeRoche, Tim ...... 47 Kassoy, Will ...... 12 Atlan, Georges ...... 1/41 Nicholson, Jack ...... 15/18 Spector, Phil ...... 15/16 Dieden, Michael ...... 36 Keller, Chris ...... 36 St. John, Lisa ...... 36 B Knabe, Don ...... 47 O E Staff, Marty ...... 1/41 Basso, Raquel ...... 8 Koplik, Peter ...... 1/42 Obama, Barack ...... 47 Evans, Bob ...... 15/18 Stanton, Russ ...... 3 Baum, Alan ...... 10 O'Dwyer, Jack ...... 7 L Steinberg, Scott ...... 8 Beckham, David ...... 3 F Orbach, Nevena ...... 6 LaLonde, John ...... 5 Steinke, Richard ...... 12 Best, Peter ...... 36 Feld, Brad ...... 36 Orci, Andrew ...... 12 Lam, Lan-Chi ...... 3 Brando, Christian ...... 15/16 Finestone, Neil R...... 46 Streisand, Barbara ...... 12 Laverty, Roger III ...... 12 Orci, Hector ...... 12 Brown, Jerry ...... 36, 47 Fodale, Victoria ...... 1/42 Lea, Lyndon ...... 1/41 Orci, Norma ...... 12 T Buchanan, Bill ...... 10 Ford, Ben ...... 3 Lee, Younghoon ...... 1/42 Taylor, Roy ...... 1/42 Burkhalter, Kevin J...... 47 Francis, Mitchell ...... 5 P Burkhardt, Ron ...... 46 Lelyveld, Philip ...... 1/42 Funess, Richard ...... 7 Painter, Scott ...... 1/43 Lewis, Michael ...... 1/42 V Perelman, Vadim ...... 5 C G Lopez, Mario ...... 3 Van De Bunt, Ben ...... 1/43 Phelps, Joe ...... 12 Casey, Tom ...... 1/41 Gibson, Kirk ...... 3 Lowe, Brady ...... 3 Priest, Darren ...... 10 W Cavanaugh, Tim ...... 47 Given, John ...... 36 Luskin, Meyer ...... 12 Chait, Carol ...... 47 Gordon, Jennifer ...... 3 Luttrell, John ...... 1/41 Pyykkonen, Martin ...... 1/42 Wahba, Jeffrey ...... 12 Chambliss, Ed ...... 12 Green, Richard ...... 32 Watling, Myles ...... 12 R Charney, Bob ...... 46 Gubler, Leron ...... 46 M Charney, Dov ...... 1/41 Manfe, Louise ...... 1/43 Redfearn, Chris ...... 36 Z Churchill, Randy ...... 6 H Mars, Bruno ...... 36 Richardson, Neil ...... 1/41 Zeitlian, Hraztan ...... 46 Colby, Brandon ...... 5 Hamon, Alison ...... 8 Marsh, James ...... 1/42 Rogers, Ron ...... 7 Zweig, Jonathan ...... 12

COMPANIES, Cinema City International ...... 1/42 Hollywood Chamber of Commerce . . . .46 M Sempra Energy ...... 12 Cinemark USA ...... 1/42 ASSOCIATIONS, ETC. Hollywood Media Corp...... 5 Madison Partners ...... 36 Sharon Plon ...... 5 Civic Enterprises ...... 36 Hollywood Reporter ...... 12 Marvell Technology Group Ltd...... 7 ShoeDazzle ...... 15/16 A Colony Financial Inc...... 4 Hollywood.com ...... 1/42 MasterImage 3D Inc...... 1/42 Snowball Factory Inc...... 6 Abode Communities ...... 36 CraveOnline.com ...... 4 HomeData ...... 32 Microsoft Corp...... 8 StubHub Inc...... 7 Creative Housing ...... 36 Mosaic Marketing Communications . . . .46 Activision Blizzard Inc...... 8, 12 HTC Corp...... 1/42 Summit Audio Inc...... 4 Ad.ly ...... 6 Hugo’s Restaurants ...... 4 Mozza Restaurant Group ...... 3 D Alaska Airlines Group ...... 12 Hyundai Motor Co...... 7 T Demand Media Inc...... 6 N AMC Entertainment Inc...... 1/42 DeRoche Consulting Group ...... 47 Nectar Media ...... 12 Target Inc...... 12 American Apparel Inc...... 1/41 I DLR Group ...... 46 Newmark Knight Frank ...... 46 TechSavvy Global ...... 8 American Honda Motor Co. Inc...... 12 IMAX Corp...... 1/42 Dolby Laboratories Inc...... 1/42 Nintendo Co. Ltd...... 1/42 Teledyne Technologies Inc...... 12 Anderson Cos...... 4 Indomina Group ...... 8 Dole Food Co...... 7 NPD Group ...... 8 Thermo Credit LLC ...... 4 Anthem Venture Partners ...... 6 International Aero ...... 10 Domus Development ...... 36 NSBN LLP ...... 46 Tix Corp...... 5 Apple Inc...... 1/42, 12 Ducommun Inc...... 12 J Toshiba Corp...... 1/42 Archway Holdings ...... 3 J.R. O'Dwyer's Company ...... 7 O Arden Group Inc...... 4 Treasury Wine Estates ...... 7 E Jack in the Box Inc...... 12 Optech Inc...... 12 Aries Management Inc...... 6 Trio/Quartet ...... 36 Eastman Kodak Co...... 1/42 Jar ...... 3 Orbach Co...... 6 AutoNation Inc ...... 1/43 TrueCar ...... 1/43 Edelbrock ...... 10 Jirbo Inc...... 12 Orci Advertising ...... 12 Electronics Arts Inc...... 8 Tutor Perini Corp...... 4 B Johnson & Johnson ...... 12 Evolve Media Corp...... 4 P Two Minute Marketing ...... 1/43 Baker Street Capital LP ...... 5 Existence Genetics ...... 5 K Palate Food & Wine ...... 3 Bank of America Corp...... 1/41 Panasonic Corp...... 1/42 U Expert Marketing ...... 1/43 KB Home ...... 12 Bank of Montreal Financial Group . . . .1/41 Phelps Group ...... 12 UberMedia Inc...... 6 Expert Mobile Car Detailing ...... 10 Kennedy Wilson Holdings Inc ...... 36 Baum & Associates ...... 10 Piper Jaffray & Co...... 1/42 Ubisoft Entertainment ...... 8 Kilroy Realty Corp...... 12 BeachMint Inc...... 6 F Port of Long Beach ...... 12 University of California, Blue Microphones ...... 4 Farmer Bros. Co...... 12 L PricewaterhouseCoopers LLC ...... 6 Los Angeles ...... 12 Boeing ...... 10 FilmLA Inc...... 12 L.A. County Metropolitan Prometheus Global Media ...... 12 USC Lusk Center for Real Estate ...... 32 Bravo ...... 3 Finestone Partners ...... 46 Transportation Authority ...... 3 Brent Shapiro Foundation ...... 15/16 R Ford's Filling Station ...... 3 L.A. Realty Partners ...... 36 W Brice Building Co. LLC ...... 4 Raytheon Co...... 7 LaBarge Inc...... 12 Warner Bros. Bug Music ...... 36 G RealD Inc...... 1/42 LegalZoom ...... 15/16 Interactive Entertainment ...... 8 Burstly ...... 6 Glaser Weil Fink Jacobs Regal Entertainment Group ...... 1/42 Howard Avchen & Shapiro LLP . . .15/16 LG Electronics Inc...... 1/42 Retrospec Bicycles ...... 3 Wedge Partners Corp...... 1/42 C GoSave Inc...... 12 Lion Capital LLC ...... 1/41 Riot Games ...... 8 Whole Foods Market Inc...... 7 California Association of Realtors ...... 32 GRP Partners ...... 6 Liquid Advertising ...... 8 Rogers & Cowan ...... 7 Windswept Music Holdings ...... 36 California Hospital Medical Center . . . . .36 Guthy-Renker LLC ...... 1/43 Logitech International S.A...... 7 Rogers Group ...... 7 California Infill Builders Association . . . .36 Los Angeles Board of Roy Anderson Corp...... 4 X Campus Explorer Inc...... 6 H Airport Commissioners ...... 12 Ruder Finn Inc...... 7 X6D Limited ...... 1/42 CarMax Inc ...... 1/43 Harrell Contracting Group LLC ...... 4 Los Angeles International Airport ...... 12 Caruso Affiliated ...... 3 Hilton & Hyland ...... 3 Los Angeles Times ...... 3 S Y CIM Group ...... 36 Hitachi Ltd...... 1/42 Los Angeles World Airports ...... 12 Samsung Group ...... 1/42 YouTube LLC ...... 8

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

46 LOS ANGELES BUSINESS JOURNAL COMMENTARY APRIL 11, 2011 LOS ANGELES BUSINESS JOURNAL ® Not Suited for Development 5700 WILSHIRE BLVD., SUITE 170, LOS ANGELES, CA 90036 E’VE got CEQA to thank for the fenced- and Chief Executive Leron Gubler said: “Virtually all And CEQA, which had been an expensive nui- (323) 549-5225 FAX 549-5255 off, boarded-up eyesore at Sunset Boule- major development in Hollywood has ground to a sance, becomes a wanton killer. www.labusinessjournal.com vard and Gordon Street in Hollywood. halt.” He went on to say that “other developers are Because CEQA’s murderous tendencies have W PUBLISHER & CEO That building, an old Spaghetti Factory restau- reconsidering doing projects in the community because been unmasked by the Great Recession, the drum- MATTHEW A. TOLEDO rant, should have been a new 23-story condo and they are fearful of frivolous lawsuits.” beat to moderate CEQA has grown. Reportedly, [email protected] | ext. 207 office tower by now. Except that it Of course, you could say Hollywood more than a dozen reform bills have been intro- was killed by CEQA, the California is just one place. Except that it’s not. duced in the Legislature this year. EDITOR CHARLES CRUMPLEY Environmental Quality Act. Not Projects all over the state are routinely But CEQA’s like a third rail in Sacramento. [email protected] | ext. 208 because the project was environmen- killed by opponents. And their weapon Nobody will touch reform. Last year, one bill called DESIGN DIRECTOR tally unsound. In fact, it successfully of choice is CEQA. for a limited number of projects ROBERT LANDRY [email protected] | ext. 243 fended off a lawsuit from neighbors CEQA is the Cali- – just a few in the state – to be LABJ POLL MANAGING EDITOR brought under CEQA that went all the fornia law that basically exempt from nuisance lawsuits. LAURENCE DARMIENTO way to the California Supreme Court. requires projects to What should be done These projects would have [email protected] | ext. 200 The developers won, but by the prove they won’t be already passed muster with DEPUTY MANAGING EDITOR about CEQA? STEVE SILKIN time they got that court victory in harmful to the environ- labusinessjournal.com CEQA environmental require- [email protected] | ext. 229 January, they had dropped from ment. Of course, com- ments and be selected by a state NEWSDESK EDITOR financial exhaustion. A notice of plying is time-consum- panel. Remember, they wouldn’t TOM HICKS COMMENT [email protected] | ext. 223 default had been filed on the project ing and costly, with the added expens- get anything special other than an exemption from REPORTERS last summer. So, opponents really es passed on to the eventual tenants shakedown lawsuits. Even that modest proposal SAM BENNETT won. They killed it with CEQA. CHARLES and end users. died in committee. Nobody would touch it. [email protected] | ext. 263 RICHARD CLOUGH Had it not been for that lawsuit, CRUMPLEY But the real problem is that in the 40 In the recent newsletter from the Hollywood [email protected] | ext. 251 probably by now the building would years of CEQA’s existence, a cottage chamber, Chairman Sam Smith wrote, “Over the past DEBORAH CROWE be up, complete with condos aimed at middle-class industry has developed in which greenmail artists use few years we have seen both the economy and [email protected] | ext. 232 HOWARD FINE workers, creative offices, retail space and even a little CEQA to file lawsuits under the guise of some envi- ‘greenmail’ litigants lay waste to Hollywood’s future [email protected] | ext. 227 park. Instead, we’ve got the boarded-up, abandoned ronmental reason to shake down developers – per- and most of its premier development projects.” As a GREG HERNANDEZ restaurant that’ll sit there for God knows how many haps demanding a union contract or a sweetener for result, he and Gubler said, the Hollywood chamber [email protected] | ext. 226 ALEXA HYLAND years. the neighbors. Competitors, likewise, use CEQA law- has made reform of CEQA its No. 1 priority this year. [email protected] | ext. 235 But not all is bleak. It’s a fine graffiti canvas. suits to delay and frustrate any upstarts, effectively sti- Let’s hope chambers and business groups all ALFRED LEE Of course, you could say it’s just one project. Except fling competition. over the state do the same. We shouldn’t let this [email protected] | ext. 221 NATALIE JARVEY that it’s not. The Hollywood Chamber of Commerce The time and money developers spend on all of law kill again. [email protected] | ext. 230 figures the Sunset-Gordon project is one of six that this gets papered over when economic times are JOEL RUSSELL won’t be done now in Hollywood because of CEQA. good. After all, the developer just has to pass the Charles Crumpley is editor of the [email protected] | ext. 237 JACQUELYN RYAN Including construction work, that means 6,000 jobs lost. costs through to the end users. But when times are Business Journal. He can be reached at [email protected] | ext. 228 In the latest newsletter from the chamber, President bad, the pass-through pipeline gets gummed up. [email protected]. CHIEF EDITORIAL PHOTOGRAPHER RINGO H.W. CHIU [email protected] | ext. 256 LABJ FORUM RESEARCH DIRECTOR DAVID NUSBAUM [email protected] | ext. 236 EDITORIAL ASSISTANT The Los Angeles City Council recently approved the incorporation of What impact do you think JONATHAN POLAKOFF Night illuminated ads and graphics into the sides of a downtown skyscraper. the lights will have on the [email protected] | ext. 239 So the Business Journal asks: local environment? VICE PRESIDENT OF ADVERTISING JOSH SCHIMMELS [email protected] | ext. 218 Lights ASSOCIATE SALES MANAGER DARRIN SENNOTT [email protected] | ext. 220 RON BURKHARDT and highlight the innovation of media and technol- HRAZTAN ZEITLIAN ADVERTISING ACCOUNT MANAGERS Managing Director ogy in an original way. Los Angeles is internation- Principal JESSICA ANNAS Newmark Knight Frank ally known for creating stunning visual beauty in DLR Group [email protected] | ext. 240 MICHELLE GIUNTA It will create a vivid, inter- many forms, and this type of media is a great way I’m not taking either side; I’m in between. Per- [email protected] | ext. 214 esting visual environment. It’s to show off our city. sonally, I love technology. I also understand that MICHAEL KOSASKY media-related, which our city some of it could look dated in five years. It’s very [email protected] | ext. 253 BILL MOIR is enamored with, and it’s a BOB CHARNEY hard to make the technology look timeless because [email protected] | ext. 216 revenue stream for landlords President the technology changes. ROSZ MURRAY and developers. It’s like a foot- Mosaic Marketing Communications [email protected] | ext. 215 JIM SLATER ball stadium, where you have I’m excited about the L.A. City NEIL R. FINESTONE [email protected] | ext. 209 advertising revenue for the sta- Council’s approval. Downtown Los Angeles is Chief Executive SPECIAL EVENTS/ dium itself. But it needs to be finally being developed and is becoming a Finestone Partners ADVERTISING COORDINATOR Burkhardt tasteful and reasonable, not vibrant city center that is alive with entertain- It will create a vivid, interesting visual environ- MARISSA DE LA CRUZ gaudy or audacious. ment, restaurants, and sports and cultural ment. Downtown is coming into its own – finally. [email protected] | ext. 213 attractions that make the area once again a true The graphics, while distracting, will add a needed PRODUCTION ARTISTS SALLY FOSTER BRIAN DARLING destination. cachet to the area. [email protected] | ext. 212 Account Manager PATTY TSAI-CHU [email protected] | ext. 242 NSBN LLP CIRCULATION DIRECTOR They add to the visual beauty of the buildings, MICHAEL LEVINE [email protected] | ext. 247

CUSTOMER SERVICE LE MILLHAUSER Los Angeles Business Journal Poll [email protected] | ext. 245 The L.A. City Council’s approval of illuminated ZAINABU BRYANT [email protected] | ext. 244 ads and graphics incorporated into the sides of a downtown skyscraper: CONTROLLER NANCY SCHWARTZ [email protected] | ext. 202 Will create a garish, Will create a vivid, ACCOUNTS RECEIVABLE distracting and over- interesting visual SPECIALIST commercialized environment. PATRICIA A. BENSON environment [email protected] | ext. 231

ASSISTANT TO THE PUBLISHER BETH THERIAC 49% [email protected] | ext. 249 PAUL KNEZEVIC [email protected] | ext. 203

RECEPTIONIST ERIN SCHAUER 51% [email protected] | ext. 270

CITY BUSINESS JOURNALS Online results for week ended April 6 NETWORK 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

APRIL 11, 2011 COMMENTARY LOS ANGELES BUSINESS JOURNAL 47 California’s Prognosis There could be a massive loss of Given the demographics of California (young and growing), this CBO base case would contribute to a huge 43 percent employer benefits if federal health increase in the number of lives covered in the individual and small group insurance markets. The size of this market could care reform backfires in the state. increase by more than $11 billion in 2010 dollars, even assuming that health premiums only rise with inflation. By TIM DeROCHE However, the Law of Unintended Consequences says that the base case is likely to be wrong. We just don’t know how yet. ET’S assume that President Obama’s health care reform In one alternative scenario, employers begin to dump cover- bill – signed into law a year ago – is implemented as age en masse, preferring to pay the penalty rather than exorbi- L written. What will the health insurance market look 10 tant premiums. This outcome is even more likely if California is years from now? Where will Southern Californians get their successful in establishing an insurance exchange offering health insurance? affordable, high-quality options for individuals buying insur- The short answer: No one knows. The bill is very complex, but ance with the help of federal subsidies. there are three provisions in particular that have the potential to rev- The American Action Forum – headed by a former CBO olutionize the U.S. health insurance market: mandates that require chief – has published an analysis that suggests the number of new businesses and individuals to purchase insurance (or pay a penalty), lives who purchase on the individual market could be three times coverage requirements that prohibit insurers from denying coverage the official estimate from the CBO. In this case, California’s or using price discrimination to target those with preexisting condi- insurers could find themselves competing furiously for individual tions, and the establishment of government-sponsored health plans. policies, while the large group market stagnates or shrinks. It is very difficult to predict how these provisions will inter- act and how they will affect the behavior of consumers, Another scenario employers, regulators and insurers. Indeed, the impact on the In another alternative scenario, government-sponsored plans health insurance market may differ quite a bit state by state, – like the multistate plan that will be authorized by the federal With a risk pool made up of the since conditions vary across the country. Office of Personnel Management – are able to exploit their size sick, insurers are forced to raise In some ways, California looks very similar to the United and legal advantages to offer more competitive products than States as a whole. Our premiums, for example, are just a tad private insurers (much as Fannie Mae and Freddie Mac have premiums, which causes even higher than average ($349 per month in the small group mar- done in the mortgage markets). more individuals to drop coverage. ket), according to the Association of Health Insurance Plans. In this case, employers would likely still dump health cover- The resulting negative feedback And the majority of our residents under 64 get their insurance age, but the employees would be scooped up by government loop pushes insurers into a death through their employer or through Medi-Cal. plans offering better benefits and lower premiums. Private However, there are several ways in which Southern California insurers would face a slowly dwindling market. spiral, and the government is is different from the national norm. According to UCLA, 29 per- One final scenario is even scarier. In it, employers cut coverage forced to step in and bail them out. cent of Los Angeles County residents go uninsured for all or part of en masse. But healthy individuals, knowing they can’t be denied, the year, almost 50 percent higher than the national average. In refuse to buy insurance until they get sick. The fines for being unin- addition, many of California’s uninsured, 22 percent, are illegal sured prove to be too small … or the government doesn’t enforce now), the individual market soon dried up, as healthy individuals immigrants, whose insurance status will not be changed by the law. them … or the individual mandate is ruled unconstitutional. declined to purchase coverage and insurers withdrew their offerings. It’s also worth noting that the private health insurance indus- With a risk pool made up of the sick, insurers are forced to While the doomsday scenario may not be likely, it can’t be try is highly concentrated in California, with 77 percent of the raise premiums, which causes even more individuals to drop ruled out from where we are now. Just about the only thing we market served by the top five insurers, according to the Ameri- coverage. The resulting negative feedback loop pushes insurers know for sure is that Southern California employers – both large can Medical Association. into a death spiral, and the government is forced to step in and and small – will face very difficult decisions about whether to con- The base-case scenario for reform – published by the Congres- bail them out. tinue providing health insurance coverage for their employees. sional Budget Office – assumes that the law will reduce the num- In the 1990s, several states – including Kentucky, Maine and ber of uninsured by almost 60 percent mainly by pressuring Washington – passed laws requiring insurers to offer coverage to all Tim DeRoche is the founder and president of DeRoche employers to offer coverage, providing subsidies to help individu- comers and limit price discrimination. In those states that didn’t Consulting Group in Los Angeles, which specializes in strategy als purchase coverage and opening up the eligibility for Medicaid. have an effective individual mandate (like Massachusetts does work for senior executives. Dodgers Express Is a Swing and a Miss

By TIM CAVANAUGH “This is great news for the region and terrific news for increased to $450,000: Dodger fans,” said Ara Najarian, who was then chairman “Following last year’s successful launch, Metro is pleased to ELEBRATE the start of baseball season with a subsidized of Metro. “With the vast network of rail and buses serving offer fans the Dodger Stadium Express bus service, which pro- bus ride from a place that’s never worth visiting (L.A.’s Union Station, this just makes perfect sense to provide this vides a direct link to Dodger Stadium from a vast network of C Union Station) to a place that is rarely worth visiting link to encourage the use of public transit as an alternative buses and trains coming into Union Station,” said county Super- (Dodger Stadium). to driving.” visor and current Metro Chairman Don Knabe. Dodger Stadium Express was rolled out during the booming The grant funding was used to offset the cost of fares for Since Gov. Jerry Brown introduced his austerity budget in economy of 2010 with funding from the Mobile Source Air Pol- passengers possessing a Dodgers ticket. January, it’s been fashionable to note that low-income people lution Reduction Review Committee. Last year’s $300,000 investment allowed 122,000 Dodgers are hardest hit. In this case that may actually be true. The A grant of $300,000 was made last year by the MSRC to the fans to get a ride to the stadium. That comes to $2.46 per ride. Dodger Express will be providing state-funded service to people Los Angeles County Metropolitan Transportation Authority in Regular bus fare in Los Angeles is $1.50. who can afford an average price of $44.68 for a single-game support of clean-fuel transit to link Union Station to the stadi- After a success like that, it’s no wonder the Dodger ticket, $5 for a Dodger Dog and $6 to $8 for a beer. um. The MSRC awards funding within the South Coast Air Express has come back in 2011. In fact, the devastating and Basin from a portion of the vehicle registration fee set aside for severe cuts necessary to close the state’s $25 billion deficit Tim Cavanaugh is a columnist at Reason magazine mobile source projects that result in emission reductions. have made it that much more important that the grant be and Reason.com.

LETTERS

Give ’Em a Brake indeed in very poor condition. I drive along Sunset Boulevard holes on Wilshire Boulevard between North Whittier Drive Re: The Comment column headlined “Potholes Sink to New near UCLA many afternoons on my commute home with a bit and Beverly Glen Boulevard caused 19 flat tires in one day. Depths” in the March 28 issue: of angst about what damage is being done to my car after hitting Once reported to the city, it takes weeks before the potholes so many large potholes. are filled. The holes are so big that they not only cause flat The smile on my face was almost as wide as many of our It is unfortunate that the city of Los Angeles did not set aside tires, but wheel damage. fair city’s potholes as I was reading the Comment column about a better rainy-day fund so such basic street repairs could contin- I wrote our councilman and his office replied that there is a those nasty crevices. ue, notwithstanding budget gyrations. We all need to become plan to repave Sunset, Wilshire and Pico boulevards, but not As a commercial real estate agent, I drive all around the city better at planning and budgeting. Our economic and social until the San Diego (405) Freeway widening project is complet- every day, and I have been thinking those same thoughts. It future depends on it. ed. I don’t think our tires will last that long! made me feel a lot better to know I’m in good company! It is inexcusable that we live in one of the wealthiest areas Kevin J. Burkhalter in the world and we are driving on roads one would expect in Carol Chait Los Angeles Baghdad, Iraq. As you may remember, one of our mayor’s Los Angeles • • • campaign slogans was that he was going to get rid of the • • • potholes. My husband and I have each gotten flat tires recently and Thank you for voicing what I imagine many of us have dis- find the condition of our roads inexcusable and dangerous. Kathy Hampar covered the hard way: the major streets in Los Angeles are According to the Automobile Association of America, the pot- Los Angeles 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page

48 LOS ANGELES BUSINESS JOURNAL APRIL 11, 2011

“I’ve been a client since First Republic was founded. They always get the job done.”

JAMES MARVER CO-FOUNDER AND MANAGING DIRECTOR, VANTAGE POINT VENTURE PARTNERS

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 Contents Previous Page Zoom In Zoom Out Next Page

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

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

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DIGITAL EDITION USERS GUIDE | 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.

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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.

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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.

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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.

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

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

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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;

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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:

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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:

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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

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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.