The Malibu oceanfront estate of Max Palevsky, a pioneer in the computer industry and a founder of computer chip giant Intel, has come on the market for $55 million, which is a lot of computer chips no matter how you store it. Palevsky died in May at 85. He had quite a trajectory. In 1957, [...]
Archive for July, 2010
Intel founder Max Palevsky’s estate goes on sale for $55 million.
Posted by admin on July 20th, 2010
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AIDS Project Los Angeles’ AIDS Walk event
Posted by admin on July 20th, 2010
Since its establishment in 1985 as the world’s first such event, AIDS Walk Los Angeles has built itself into the premiere fundraiser of its type in town. Madonna and Elton John have waved to TV cameras over the years alongside other participants to raise money for the event’s non-profit organizer, AIDS Project Los Angeles. So [...]
Public Storage looks to launch an expansion plan and boost rental fees as the economy stabilizes.
Posted by admin on July 9th, 2010
Public Storage Inc. looks like it’s weathered the worst of the real estate recession, so the company is about to increase rental rates and expand through acquisitions as the economy improves. Glendale-based Public Storage is the nation’s largest owner of self-storage rental units for homeowners, apartment dwellers and small businesses. The market is confident that [...]
Abraxis payout likely fuel for Soon-Shiong philanthropy.
Posted by admin on July 9th, 2010
With last week’s announcement that Patrick Soon-Shiong is selling Abraxis BioScience Inc. for $2.9 billion, the biotech entrepreneur won’t have a company to run for the first time in more than two decades. But there’s one thing the billionaire will have: more money, more liquidity and more time to pursue his philanthropy, as well as [...]
How small Pasadena bank suddenly became SoCal titan.
Posted by admin on July 9th, 2010
East West Bank’s acquisition of a failed Seattle-area competitor three weeks ago cemented the Pasadena institution’s new standing as Southern California’s largest commercial bank. Yet East West would not be where it is today if not for a critical turn two years ago. Dominic Ng, who took the helm of the bank in 1992 amid [...]
American Apparel scrambles to restaff while adding products
Posted by admin on July 9th, 2010
Even with record unemployment, American Apparel’s chief, Dov Charney, can’t hire enough factory workers. He’s even walked the streets of Alhambra himself, handing out fliers printed in Chinese and Spanish, advertising for cuttting and knitting jobs that pay $8 to $18 an hour. Why the struggle? He lost 2,500 workers – more than half his [...]
Plan to sell offices ditched for lease deal?
Posted by admin on July 3rd, 2010
A plan to sell and lease back 11 state-owned office properties to help bridge California’s $19 billion budget gap has taken a twist, with one of two final proposals more akin to pawning the buildings than selling them. A unique proposal from the California Municipal Finance Authority and a Boston private investment firm amounts to [...]
Preferred final endangered local institution.
Posted by admin on July 3rd, 2010
Preferred Bank, which had been struggling for months with a deteriorating loan portfolio, secured much needed capital last week with a stock sale that netted more than $70 million. The critical move likely staved off failure for a bank thought to be on the ropes. But the accomplishment may be a milestone for the broader [...]
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