Business

Jan 26 2012

High tech entrepreneurs to be honored

Nominations are now being accepted to recognize small businesses who have played a critical role in federally funded research and development through the U.S. Small Business Administrations Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.

The deadline to submit a nomination is 5 p.m. (Eastern Standard Time) Jan. 31, and awards will presented in Washington, DC. in April.

Nov 21 2011

11 years of leadership

EL SEGUNDO, Calif.—Mattel Inc. Chief Executive Officer Robert A. Eckert will retire on Dec. 31 and be replaced by Chief Operating Officer Bryan G. Stockton, the world’s biggest toymaker announced today.

A statement said Eckert, 57, had informed the Mattel board of his decision to leave the job after 11 years with the company. But he will become non-executive chairman of the board.

Stockton, 58, who has been COO for the past year, has been elected to the board, the statement said.

Nov 15 2011

$20 million in inventory

GARDEN GROVE, Calif.—Garden Grove-based Linder’s Furniture confirmed today it is going out of business.

On Nov. 2, the company entered into a “general assignment for the benefit of creditors,” an alternative to bankruptcy, and will start a going-out-of-business sale on Thursday at its 10 Southern California stores, said Craig Venezia of the Gorden Brothers Group, which will handle the liquidation.

Nov 15 2011

Orange County continues downfall

LOS ANGELES, Calif.—Home sales in Los Angeles County jumped by 6.6 percent in October, compared to the same month a year ago, while prices dipped by 7.7 percent, a real estate information service announced today.

A total of 5,830 homes changed hands locally last month, compared to 5,470 in October 2010, according to La Jolla-based DataQuick. The median price of a home in Los Angeles County in October was $300,000, down from $325,000 in October 2010.

Nov 11 2011

CODA Automotive

LOS ANGELES, Calif.—Electric vehicle maker CODA Automotive opened its global headquarters at an event held yesterday that drew Gov. Jerry Brown and Mayor Antonio Villaraigosa.

The 100,000 square-foot space next to the Santa Monica (10) Freeway near Fairfax Ave. will house the company’s research and development division, and processing center.

Across Black America

Here’s a look at African American people and issues making headlines throughout the country.
 

Arkansas
Walmart Stores Inc. recently announced the promotion of Rosalind G. Brewer, 49, to president and CEO of Sam’s Club. She will replace current Sam’s Club President and CEO Brian Cornell, who informed the company that he would move back to the Northeast for family reasons. Brewer was most recently president of the Walmart U.S. east business unit, where she was responsible for more than $100 billion in annual revenue, representing almost 1,600 stores and more than 500,000 associates. Brewer was also the first chairperson of the Walmart President’s Council of Global Women Leaders. “Roz came to us with an outstanding background in consumer packaged goods more than five years ago,” said Mike Duke, Walmart president and CEO. “During that time I have seen her develop into a talented merchant and retailer. She has strong strategic, analytical and operational skills and has successfully managed a large and complex business. I’ve also been struck by Roz’s servant leadership when I have visited stores with her. She always lets her team do the talking, with her focus being on how to better support their needs.”
 

California
Essence magazine recently announced the fifth annual Essence Black Women in Hollywood Luncheon honoring the industry’s most exciting African American talent, both in front of the camera and behind the scenes in Hollywood. The event will take place on Feb. 23 at the Beverly Hills Hotel. Essence will celebrate five extraordinary women who have left an indelible impression with their work within the film and television industries: Kerry Washington (Vanguard Award), Octavia Spencer (Breakthrough Performance), Pam Grier (Legend Award), Paula Patton (Shining Star Award) and Shonda Rhimes (Visionary Award). This star-studded event commemorates Essence magazine’s annual Hollywood issue and in honor of the fifth anniversary, Essence.com is giving fans exclusive access to all the red-carpet interviews via live stream from 11:30 a.m. to 12:30 p.m. and re-airing that evening at 9 p.m. EST.