Looking for Volunteers The Boys & Girls Club of the West Valley is looking for volunteers to help refurbish its building in Canoga Park. Businesses are encouraged to have their employees take part in the work to take place over the next three months. At least 20 people are needed on July 21 for the kickoff of the refurbishing with the goal of cleaning out the upstairs and two back rooms to make way for a new learning center and crafts room. Volunteers are also needed for other days to do work. Service organizations, religious groups, and civic organizations are encouraged to have their members take part. The club expects to open the new club in early November to show it off for its 50 members. For more information contact (818) 610-1054. Image Reports Loss Weak home entertainment sales and expenses connected to a pending merger agreement contributed to Image Entertainment, Inc. posting a $12.6 million loss for the 2007 fiscal year, the company reported. The net loss by the Chatsworth-based producer and distributor of home entertainment content is considerably higher than for the 2006 fiscal year. Image reported a net loss of $12.6 million, or a loss of $0.59 per diluted share, on revenues of $99.8 million for the year. For the 2006 fiscal year, the company reported a net loss of $207,000, or a loss of $0.01 per diluted share, on revenues of $111.9 million. For the fourth quarter ending March 31, the company posted a net loss of $3.05 million, or a loss of $0.14 per diluted share, on revenues of $30.2 million. That is a greater loss than the $283,000 net loss, or $0.01 per diluted share, on revenues of $30.4 million for the same reporting period in 2006. Non-recurring expenses and the write-off of distribution and music publishing advances paid to and on behalf of provider Source Entertainment contributed to the loss for the fourth quarter, said Image President and CEO Martin Greenwald. Contributing to the losses for the full year was the retail DVD environment plateauing, the bankruptcy of customers Tower Records and Musicland, and uncertainty about the company’s future, Greenwald said. In March, Image reached an acquisition agreement with BTP Acquisition Corp. The deal still needs approval of Image shareholders. Mortgage Trade Group Launches With negative publicity related to the subprime mortgage market swirling, a group has launched a new association to help restore consumer confidence. The National Association of Mortgage Professionals Inc. has established professional standards to qualify mortgage and loan professionals and instituted a seal to reflect their approval by the association. The program, called Mortgage “M” requires industry professionals to pass a series of credential checks including a valid license, continuing education in the field and a background check. In addition, members must abide by a code of ethics developed by the group and be a member in good standing, which is reviewed annually. So far at least, most of the negative publicity aimed at the mortgage industry has been focused on some in the subprime market, where observers have charged lax qualifying standards for borrowers have led to a surge in foreclosures. But the trade association group believes that the news headlines have tainted a broader spectrum of the industry. “Consumers have lost faith in the lending industry as a whole, and we need a solution in place that will improve the way people experience the loan process,” said Michael Lefevre, founder and CEO of NAMP. Water Plan to be Unveiled The draft Antelope Valley Integrated Regional Water Management Plan will be presented to the public July 10, 7 p.m., at the Larry Chimbole Cultural Center in Palmdale, and July 18, 7 p.m., at the Rosamond Community Services District office in Rosamond. The plan is being presented to give valley residents an overview of its contents and to provide a forum for comments. Verbal and written comments will be accepted until July 31. The plan describes long-range goals, including increasing water supply, improving water quality, protecting the environment, increasing open space and habitat, enhancing flood control and encouraging land use planning for growth that supports the values of the region. The water plan also provides a roadmap for achieving these goals and specific projects that will help the valley overcome the gap between expected water demand and water supply until 2035. The plan addresses the various objectives of the multiple responsible agencies that make up the RWMG, and the jurisdictions and communities involved, and combines them into one vision for the area. Commission Convenes The Senior Citizens Advisory Commission will hold a meeting July 10, 2 p.m., in the Joshua Room of the Larry Chimbole Cultural Center, 38350 Sierra Highway, Palmdale. Discussion topics will include commission presentations regarding Partners for a Better Palmdale, a housing and hospital update and the Antelope Valley Transit Authority. The Senior Citizens Advisory Commission provides reciprocal communication between the Palmdale City Council and Palmdale’s senior citizens and provides recommendations to the City Council on issues relating to seniors. The City Council appoints senior citizens through an application process whenever vacancies occur. There are seven commission members including one person from the American Association of Retired Persons and one person from the Antelope Valley Committee on Aging. Meeting agendas for the Senior Citizens Advisory Commission are available at City Hall and on the City’s Web site, www.cityofpalmdale.org. Information: (661) 267-5611. MRV Closes on Acquisition MRV Communications, Inc. closed on its acquisition of Fiberxon, Inc. an optoelectronic module developer, the company said. Chatsworth-based MRV will combine Fiberxon with its subsidiary Luminent, Inc. and operate both under a single management team. The combination of Fiberxon and Luminent creates one of the largest manufacturers of optical transceivers for telecommunications networks, said MRV President and CEO Noam Lotan.