2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page labusinessjournal.com LOS ANGELES BUSINESS JOURNALL TM DIGITAL EDITION THE COMMUNITY OF BUSINESS www.labusinessjournal.com/digital WELCOME TO THE LOS ANGELES BUSINESS JOURNAL DIGITAL EDITION To read your copy of the Digital Edition INSTRUCTION Please select a reading preference FOR PC/MAC How to read LABJ Digital Edition on iPad in iBooks: 1 TAP CENTER 2 TAP ‘OPEN WITH’ 3 TAP ‘iBOOKS’ Wait for gray bar with Wait for scroll down menu menu buttons to appear on and tap the iBooks icon. top of the PDF. Wait for PDF to load in iBOOKS. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page labusinessjournal.com LOS ANGELES BUSINESS JOURNAL Volume 33, Number 38 THE COMMUNITY OF BUSINESSTM September 19 - 25, 2011 • $3.00 Up Grocery Magnate Front Signs of Life Bags Local Hotel HOSPITALITY: Billionaire Burkle checking into lodging industry. By ALEXA HYLAND Staff Reporter Ron Burkle may be best known as a supermarket magnate, but the Beverly Hills billionaire is now making moves that’ll likely earn him another label: hotelier. Why Rod Dyer In his first major investment had to close his in L.A.’s hotel market, Burkle celebrity hang- purchased Koreatown’s Wilshire out. PAGE 3 Hotel through a joint venture Burkle between his L.A. investment firm, Yucaipa Cos., and New York hotel developer People and operator Sydell Group. The venture was formed earlier this summer with the goal of spending up to $1 billion to acquire and develop hotels. Please see HOSPITALITY page 34 Coffee Maker Buzz Leaves Bad Taste How Dr. David Feinberg cured STOCKS: SEC smells trouble at UCLA’s ailing firm started by Bob Marley’s son. medical system. RINGO H.W. CHIU/LABJ Blooming: Robinsons-May property in Beverly Hills slated for high-end condominiums. PAGE 15 By ALFRED LEE Staff Reporter New owners revive luxury condo project One day in May, shares of Jammin Java Corp. Comment shot up to an all-time high of $6.35. Suddenly, the By JACQUELYN RYAN Staff Reporter construction 30 months from then, sources close to Beverly Hills coffee distributor had a market cap top- the matter told the Business Journal. ping $400 million – even though the startup had rev- HE defunct plan to build a luxury condo Joint Treasure, made up of three investor fam- enue of just $1,037 last year. project at one of the Westside’s biggest ilies from Singapore and Hong Kong that also The surge was accompanied by a blitz of online Teyesores – the site of the closed Robin- own the Beverly Wilshire Hotel, plans to move newsletters touting the company, which was co- sons-May department store in Beverly Hills – forward with an existing design by famed archi- founded by one of Bob Marley’s sons, Rohan Marley, appears to be coming back to life, thanks to the tect Richard Meier and market the condos largely and distributes packaged coffee emblazoned with the growing wealth in Asia. to wealthy Asians. late reggae icon’s name and likeness. But within days, Representatives of Joint Treasure Internation- “They are taking a strong eye toward the shares fell under a dollar after a massive sell-off. al, the new owner of the eight-acre property next to Pacific Rim population,” according to a source Now, the unusual activity has triggered a Securities Should busi- the Beverly Hilton Hotel, have begun meeting with familiar with the deal who was not authorized and Exchange Commission investigation into whether nesses clean city officials about restarting the project. They plan Jammin Java was involved in a “pump and dump” rainwater that to begin demolition next summer and complete Please see REAL ESTATE page 32 runs off their Please see STOCKS page 33 property? PAGE 39 Start a Business on Company Time? Sure. MAIL TO: ADVERTISING: WDCW lets headquarters and an additional 80 in Seattle, and allows its creative workers to develop these projects staff pursue side projects at work. between assignments. Chief Executive Ben Wiener said the purpose of By JOEL RUSSELL Staff Reporter the program is to attract and retain creative talent. Permitting employees to pursue their passions keeps Advertising agency WDCW takes a liberal them motivated and yields knowledge – and poten- approach toward letting employees work on person- tial profits – for the agency. al projects at the office. Since the program started two years ago, the agency So liberal that one employee has produced a fea- has retained all its digital experts, a sharp contrast to the ture-length documentary film; another owns an industry norm of high turnover, Wiener said. online coffee company; a group of workers has a Most companies don’t allow employees to do career guidance site; and several maintain blogs – all personal work on the clock, especially if it’s related while on the company clock. RINGO H.W. CHIU/LABJ The agency has 72 employees at its Culver City Please see ADVERTISING page 31 In the Can: From left, WDCW’s Wiener, Crandall. 2-Page Spread Single Page View Thumbnails | LABJ User Guide | Front Page | Table of Contents Previous Page Zoom In Zoom Out Next Page 2 LOS ANGELES BUSINESS JOURNAL SEPTEMBER 19, 2011 LOS ANGELES BUSINESS JOURNAL ® SEPTEMBER 19 - 25, 2011 VOLUME 33, NUMBER 38 RINGO H.W. CHIU/LABJ Page 8: Ball’s can manufacturing facility in Torrance. AVIATION – Internet provider Row 44 aims ON THE COVER to expand its airborne presence by offering ADVERTISING – WDCW gives free rein original content to airlines. .10 1.25% and full paychecks to employees who pursue Columns & features – Media Watch 10, other ventures at work. Health Care & Biotech 12, News of the REAL ESTATE – New Asian owner Joint Week 14 Treasure looks to revive the fortunes of scrapped Beverly Hills condo project. PEOPLE STOCKS – Coffee distributor Jammin Java’s briefly red-hot stock led to legal heat INTERVIEW – Dr. David T. Feinberg gave from the SEC. UCLA Medical System’s reputation a shot in HOSPITALITY – Billionaire Ron Burkle the arm by improving bedside manners. .15 09/19/11 hopes to make room in L.A.’s hotel scene for his recently acquired Wilshire Hotel. THE LIST 09/19/11 UP FRONT RANKING – The 25 largest charitable foundations/trusts in Los Angeles County, DINING – Star wattage couldn’t stop the ranked by total county assets. .18 curtain from falling on show business industry hot spot Pane e Vino. .3 SPORTS – Movie director teams with Dr. J’s INVESTMENTS & FINANCE son to take a shot at reviving basketball’s Columns & features – Econowatch 23, ABA league. .3 LABJ Stock Index 24 TICKETING – Goldstar’s new Sit With Friends social networking feature relies on the closeness of customers. .3 REAL ESTATE Columns & features – Page 3, Columns & features – Real Estate The test of time. Regional Report 4 Column 26 NEWS & ANALYSIS L.A. BIZ SEEN ENGINEERING – Aecom is game for more CELEBRATIONS – Photos from L.A. business in Brazil after scoring the Olympic business community events. .36 Park project for 2016. .5 LEGISLATION – Labor may look to next year to rerun a defeated bill on retaining COMMENTARY building workers. .5 COMMENT – If may be unfair for AEG to AUTOMOTIVE – Enova stock has dropped get some relief from the state’s environmental as the maker of hybrid and electric drive trains has failed to get traction with fleet law, but that’s the way big government operators. .6 systems are designed to work, opines Charles INTERNET – Aiding hack-attacked Sony has Crumpley. .38 been key to unlocking cybersecurity work for TWO VIEWS – Mike Paik fears proposed Guidance. .7 rainwater treatment rules for businesses will MANUFACTURING – Soda can maker plunge the state into further regulation. Harry traight talk. Sound counsel. Practical solutions. S Ball’s former home looks like another B. Chandler sees the Los Angeles River as a At Snell & Wilmer, some things never change. warehouse conversion candidate in the way around more business fees. .39 South Bay. .8 Columns & features – LABJ Forum 38 www.swlaw.com Los Angeles Business Journal (ISSN 0194-2603) is published weekly. © 2011, Los Angeles Business Journal. Offices are located at 5700 Wilshire Blvd., Suite 170, Los Angeles, CA 90036. Periodicals postage paid at Los Angeles, CA and additional offices (USPS #492-930). Subscription prices: 51 issues and special issue, $99.95. For new and renewal subscriptions, call 1-800-404-5225. All other inquiries (323) 549-5225. Single copies, $3.00. Mailed copies, $5.00. Back issues, $8.00. Address and subscription inquiries to: Circulation Department, Los Angeles Business Jour- nal, 5700 Wilshire Blvd. Suite 170, Los Angeles, CA 90036. 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