The shareholders of CHAD Therapeutics Inc. have approved a proposed $5.25 million sale of the company’s oxygen conserving business to Inovo Inc. The transaction is expected to close Feb. 15. Inovo is a privately held manufacturer of oxygen regulators and conservers based in Naples, Fla. “We intend to focus our future efforts on the sleep disorder market,” Earl Yager, CHAD’s president and CEO, said. “We believe that our sleep products offer unique features that can improve the diagnosis and treatment of obstructive sleep apnea. We recently filed an application with the FDA for clearance to begin marketing the first of our sleep products.”

Oplink Communications Inc. made $26.1 million this month by selling the Woodland Hills building of its subsidiary Optical Communications Products Inc. Acquisition of OCP, which closed in October, figured in to the 113 percent increase in revenues posted by Oplink for the second quarter when compared with the previous year. For the quarter ending Dec. 31, Oplink reported a net loss of $3.4 million, or a loss of $0.16 per diluted share, on revenues of $48.9 million. For the same period in 2007, the company reported a net loss of $3.1 million, or a loss of $0.14 per diluted share, on revenues of $23 million. Oplink, a manufacturer of optical networking components and subsystems based in Fremont, began its purchase of OCP in June by acquiring a majority of shares in the company. Oplink closed on its purchase of the remaining shares in October. During the second quarter alone, Oplink spent $80.6 million to complete the acquisition and $39.6 million to repurchase common stock. “We have initiated integration of the OCP business and operations, and have begun to achieve business efficiencies,” Oplink President and CEO Joe Liu said. “We expect to complete the integration by June 2008. We continue to believe that the combined company will drive good performance in the future and are optimistic about the value this will create over time for customers, partners and shareholders.” Shares in Oplink closed at $12.77.

Shortly before the Republican presidential candidates participated in a debate at the Reagan Presidential Library in Simi Valley, former New York City Mayor Rudy Giuliani announced that he is aborting his presidential campaign and is now backing Arizona Senator John McCain for president. The New York Times reported that, as Giuliani stood next to Sen. McCain at a library podium, he remarked that “it is appropriate to make this announcement here at the Reagan library because President Reagan’s leadership remains and inspiration both for John McCain and myself.” Today, in New Orleans, Democratic candidate John Edwards also announced that he was dropping out of the presidential race.

Gumiyo has announced that it will be the first company to deliver Carfax vehicle history reports on mobile devices for automotive listings. Via Gumiyo’s platform, used car buyers and sellers can obtain the information by sending a text message that includes the word “CARFAX” with the Vehicle Identification Number to GUMYO (48696) or by visiting www.gumiyo.com from various mobile devices. Gumiyo, based in Woodland Hills, provides mobile technology service that connects buyers and sellers in real time by extending the traditional online marketplace to mobile phones using text messaging.

A new magazine and website for education suppliers and vendors will launch in June from 1105 Media Inc. The bi-monthly Education Channel Partner will have an initial target distribution of 25,000 that includes sales manager and representatives, college bookstore and teacher store managers, resellers and distributors. The magazine and website expands the education business unit of Chatsworth-based 11005 Media. Publisher Jerry Rosenbusch and Editor-in-Chief Therese Mageau are long-time publishing industry veterans. “The addition of Education Channel Partner rounds out our family of products by providing the valuable, quality specialist information that our readers and advertisers have been seeking,” said education group President and Publisher Wendy LaDuke.

The formation of the Los Angeles County Business Federation was announced at a press conference this morning at the Los Angeles Hall of Administration. The group will include more than 40 organizations. Tracy Rafter, former publisher of the Los Angeles Daily News, will serve as chief executive of the group. David Fleming, outgoing chairman of the Los Angeles Area Chamber of Commerce, will serve as chairman of the federation. The group’s aim will be to obtain political sway by mobilizing trade groups, chambers of commerce, businesses and business groups. A Web site the federation will host will play a key role in mobilizing members of the business community, as it will give businesspeople access to the contact information of legislators, allowing them to rapidly air their concerns and have their needs addressed.

Informal negotiations continue between striking film and television writers and the major Hollywood studios. The two sides have made progress on the key issue of walkout the amount paid to writers when their work is distributed online and through mobile devices, the Los Angeles Times reported. Still, there is distrust between the Writers Guild of America and the Alliance of Motion Picture and Television Producers, the Times said. If the two sides work out the outline of a new contract, formal talks to finalize a deal could begin soon, the Times reported. The writers began their strike Nov. 5, resulting in a shut down of television series production, loss of jobs and an estimated $1.6 billion hit to the region’s economy.

Alleged mishandling of more than 130,000 claims by insurance provider PacifiCare led to a joint action by the California Department of Insurance and the California Department of Managed Health Care. PacifiCare’s alleged violations include wrongful denials of covered claims; incorrect payment of claims; lost documents, including certificates of creditable coverage and medical records; failure to timely acknowledge receipt of claims; and multiple requests for documentation that was previously provided. PacifiCare is owned by UnitedHealth Group This joint effort is the first action ever by both CDI and DMHC against a single health plan or insurer. Generally, CDI regulates provider-preferred organization (PPO) health products and DMHC regulates health-maintenance organization (HMO) products.

The House passed a $146 billion aid package that includes rebates for taxpayers and incentives for businesses. The plan passed by a 385-35 vote after little debate, the Associated Press reported. The package includes roughly $50 billion worth of tax incentives for businesses to invest in new plants and equipment, the AP reported. In addition, the plan will send rebates of $600 for individuals and $1,200 for couples; and a $300 rebate for those who work but don’t pay taxes. Gov. Arnold Schwarzenegger commended the House for its swift action on the package and urged the Senate to follow suit. “This package will pump up our economy by putting more money into the hands of hard-working families through tax relief,” Schwarzenegger said. The Senate is still working on its version of the bill. Lawmakers want to get the bill to President Bush by Feb. 15.

The Los Angeles Unified School District Board of Education has decided to adopt a more stringent standard than required by California law for building new schools near sources of airborne pollution. California law prohibits situating new schools within 500 feet of a freeway, with certain exceptions. The board’s action goes beyond state guidelines and expands the current air quality screening scope from a quarter-mile to a half-mile. The new mandate for air quality analysis will also extend beyond freeways to include oil refineries and rail yards. “While I know that we have to build more schools, and we are running out of available land, I do not believe it should come at the expense of our children’s ability to breathe. We have a moral obligation to be leaders on this issue,” Board Vice President Flores Aguilar stated. The board has also directed Superintendent David L. Brewer III to compile a list of existing schools that may pose a health risk due to their proximity to major emission sources. In addition, the Superintendent must develop a plan to reduce exposure for schools that may be at high risk of air pollution, including the identification of public and private funding sources for school site modifications that may be needed, such as improved filtration of indoor air.