Business Insider Magazine - Los Angeles South Bay » Los Angeles South Bay

East West Bank Acquires Failed Bank’s Assets

Editor and Publisher — Fri, 13 Nov 2009 21:38:22 +0000

Editor’s Note: East West Bank has several South Bay branches and United Commercial Bank has a Torrance branch serving the South Bay south communities. This acquisition will significantely enhance East West’s position in the local market.

By RICHARD CLOUGH

(Los Angeles Business Journal) East West Bank nearly doubled in size late Friday after acquiring San Francisco’s United Commercial Bank, which was closed by regulators earlier in the evening.

East West Bancorp Inc., a Pasadena holding company for a bank catering to the Chinese-American community, purchased $10.2 billion in United Commercial’s assets, including 63 ... Continue Reading

Holiday Regional Mixer, Thurs., Dec. 3, 2009

Editor and Publisher — Thu, 12 Nov 2009 20:39:33 +0000

Network with members of more than a dozen South Bay Chambers

Thursday, December 3, 5:30-7:30 p.m., inside the Torrance Memorial Medical Center “Holiday Festival” tent, Skypark Drive and Medical Center Drive, Torrance.

The $10 admission includes one drink ticket (beer, wine or soft drink) and hors d’oeuvres. There are 48 designed and decorated holiday trees; holiday boutique; live entertainment; photos with Santa; fantastic raffle prizes. RSVP is a must, by November 30: (310-377-8111 or office@palosverdeschamber.com). To donate a door prize for maximum visibility, contact Debby at 310-377-8111 or debby@palosverdeschamber.com

City of Torrance selected as award finalist

Editor and Publisher — Wed, 11 Nov 2009 19:22:25 +0000

City selected as finalist for the Most Business-Friendly City in Los Angeles County Award

(Torrance Business Monthly) The Los Angeles County Economic Development Corporation (LAEDC) has selected the City of Torrance as a finalist for its 2009 Most Business-Friendly City in L.A. County award for the population of 60,000 and over category. The LAEDC honored the City of Torrance for creating a business-friendly environment that encourages businesses to locate or expand in the community by reducing red tape and improving response time with additional assistance.

Torrance has implemented streamlining measures such as a onestop permit center, ombudsman services, online project ... Continue Reading

Manhattan Beach gives Chamber $75,000

Editor and Publisher — Wed, 11 Nov 2009 19:14:16 +0000

City approves reduced allocation to “keep the body breathing”

by Carley Dryden

(The Easy Reader) Six months after cutting its $210,000 allocation to the Manhattan Beach Chamber of Commerce, the City Council agreed Tuesday night to a phase-out allocation. Funding for the Chamber will be reduced to $50,000 next year and $25,000 the next, with the expectation that the Chamber will be self-sufficient after two years.
City Council’s finance subcommittee, Richard Montgomery and Nick Tell, met with the Chamber last month to help them trim their budget.
“Pare it down to your necessities,” said Council member Richard Montgomery in September. “What are ... Continue Reading

Parking legally may be illegal in Redondo Beach

Editor and Publisher — Mon, 09 Nov 2009 21:24:43 +0000

Police let drivers off the hook with a warning for violation they could not have known they committed.

By David Whitehead

This absurd enforcement action by the Redondo Beach Police Department was probably a bureaucratic snafu the chain of command decided to proceed with despite its highly questionable legality. It was clearly an unwarranted violation of the rights of law abiding citizens, but just to keep things in perspective, it wasn’t the Rodney King incident either. For me it was just stupid and annoying.

On Sunday, November ... Continue Reading

P.V. Chamber Evening Mixer – Thurs., Nov. 19, 2009

Editor and Publisher — Tue, 03 Nov 2009 19:11:16 +0000

Palos Verdes Peninsula Chamber of Commerce

Evening Mixer: Thursday, November 19, 5:30-7:30 p.m.,

Location: Marmalade Café, Promenade on the Peninsula, 550 Deep Valley Drive, Suite 201, Rolling Hills Estates.

Join fellow members and bring a potential member and join us in BUILDING BUSINESS REFERRALS!

Admission $10 for Chamber members; $15 for potential members. Includes one complimentary drink ticket.

Wine and beer bar available. RSVP: debby@palosverdeschamber.com or call 310-377-8111.

Market your business and donate a raffle prize! Notify Debby of your item(s) at 310-377-8111, so that your donation is included in the signage at the event.

California National Bank Seized by Regulators

Editor and Publisher — Mon, 02 Nov 2009 18:55:06 +0000

Editor’s Note: This Los Angeles-based bank has well-established branches in the South Bay region. Be aware the FDIC will do everything in it’s power to transition struggling financial institutions before taking the radical step of seizing its assets forcing a bailout. This is a grave situation indeed.

By Richard Clough

(The Los Angeles Business Journal) California National Bank, which had struggled with insufficient capital levels for more than a year, was closed late Friday by regulators, marking the fourth bank failure in Los Angeles County this year.

With assets of $7.8 billion, Cal ... Continue Reading

Managing: How to Work More Like a Start-Up

Editor and Publisher — Wed, 28 Oct 2009 21:46:35 +0000

Rekindle that startup spirit with agile development

By Darren Dahl

(Inc.com) The first thing you notice when you walk into the Chicago offices of Total Attorneys, which provides software and services to small law firms, is the number of people on their feet. Every morning, the company’s 180 employees gather around the office in groups of five to 10. Close your eyes, take in the often raucous banter and laughter, and it’s easy to mistake Total Attorneys’s headquarters for a college cafeteria. But these meetings, which last for about 15 minutes, ... Continue Reading

Building a Culture of Employee Appreciation

Editor and Publisher — Wed, 28 Oct 2009 21:38:45 +0000

How Datotel overhauled its employee-appreciation, -recognition, and -incentive programs

By Nadine Heintz

(Inc.com) David Brown thinks it’s important to make his employees feel valued. So Brown, founder and president of Datotel, an IT services and data storage business in St. Louis with 38 employees, was dismayed when he realized his employee-of-the-month program wasn’t helping morale. Recipients didn’t seem enthusiastic about the award, which consisted of a $25 gift card, a perfunctory e-mail, and a mention on the company intranet.

It seems like a simple concept: Make employees feel appreciated, and they will ... Continue Reading

New home sales fall 3.6%

Editor and Publisher — Wed, 28 Oct 2009 19:08:48 +0000

(Associated Press – Los Angeles Times) WASHINGTON – Sales of new homes dropped unexpectedly last month as the effects of a soon-to-expire tax credit for first-time owners started to wane.

The Commerce Department said Wednesday that sales fell 3.6 percent to a seasonally adjusted annual rate of 402,000 from a downwardly revised 417,000 in August. Economists surveyed by Thomson Reuters had expected a pace of 440,000.

It was the first decline since March. Sales in September were down 7.8 percent from a year ago.

The median sales price of $204,800 was off 9.1 percent from $225,200 a year earlier, but up 2.5 percent ... Continue Reading