Steinway Musical Instruments offered a bid of $40.5 million to buy Woodwind & Brasswind, a higher bid than a standing offer from Guitar Center Inc. A unit of Westlake Village-based Guitar Center Inc. had offered $37.1 million as a stalking horse for the company, which is in bankruptcy proceedings. Guitar Center’s offer also includes the assumption of debt. With the latest move by Steinway, the decision will fall to a bankruptcy judge. A hearing set for today in South Bend, Ind., will determine the bid rules governing the sale.

Santa Clarita saw more television and motion pictures filmed in the city last month than any previous November, continuing a trend of television and motion picture production companies turning to the area for shoots. The city’s film office recorded 80 film days and 32 film permits issues for the month, both records for the city. For July through November, film permits also jumped 7 percent from the same 2005 period to 140 permits. The five-month period also saw 387 film days, 30 percent more than last year. The city also issued 7 percent more film permits from July to November than in the same 2005 period The surge in production is expected to generate $10.03 million for the regional economy for the first five months of fiscal year 2006-2007. The largest contributor to the healthy production numbers was television programs, which represented 263 of the filming days. Programs that shot in the city included “Deadwood,” “Big Love” and “The Unit.”

The Valley Industry and Commerce Association honored two longtime members at its 57th annual meeting at the Hilton Los Angeles/Universal City Thursday. The organization, which represents 300 businesses in the San Fernando Valley, presented the 2006 Harmon Ballin Award for Community Service to Jill Barad, the founder of the Sherman Oaks public policy firm Jill Barad & Associates. Barad has also been a major advocate for neighborhood councils and charter schools. She also helped found the Skid Row childcare center Para Los Ninos. The group also recognized Larry Venema, a district manager with the Automobile Club of Southern California and VICA member, with the inaugural President’s Award. The event also featured comments from new Los Angeles Unified School District Superintendent David L. Brewer III, who continued his theme of calling on business leaders to help him reform the district. Brewer, who took over the post last month, also advocated more career technical programs and online programs at the high school level to prepare students to enter the job market. “We will have to have relationships with the business community,” he said. “You have the opportunity with me here to change the district ” VICA also elected a new board and voted a series of small bylaw changes, including reducing the 100-member board to 80. The organization also called on meeting attendees to sign a petition condemning the City Council’s recent extension of the living wage to hotels near Los Angeles International Airport, which many fear could be further expanded to the Valley.

With revenues from its largest customer continuing to trend downward, Cherokee reported its net income for the third quarter was relatively unchanged from the year ago period. Van Nuys-based Cherokee, which licenses brands globally, said its net income for the quarter ended Oct. 28 was $3.28 million or $0.37 per share, compared to $3.25 million or $0.37 per share for the like period a year ago. Revenues rose 5.3 percent to $8.8 million for the current quarter, compared to $8.4 million for the third quarter of its fiscal 2006. The company said selling, general and administrative expenses rose by about $500,000 compared to last year, due to payroll and stock option expenses as well as an increase in travel and marketing expenses. The company has been actively marketing its brands internationally, moving into markets in Eastern Europe and the Middle East among others. Royalty revenues from Target, however, were down 1.8 percent in the third quarter, the company said.

Troubled Capstone Turbine Corp. in Chatsworth named Darren R. Jamison president and CEO. The maker of micro-energy systems has been without a chief executive since July, when John Tucker resigned from the company amid mounting losses. Microturbine lost $10.5 million in its fiscal year ended March 2006. That compares with a net loss of $7 million in fiscal 2005 and $16.8 million in fiscal 2004. Jamison was formerly president and chief operating officer of Northern Power Systems. Mark Gilbreth had been interim president and CEO during the transition. He will continue in the company as executive vice president and COO.

One of the largest stockholders in Vitesse Semiconductor Corp. has called for the resignation of two company board members over the backdating of stock options. Robert L. Chapman, managing member of Chapman Capital LLC, demanded the resignations of James Cole and Lou Tomasetta from the board of the Camarillo-based semiconductor manufacturer in a filing on Wednesday with the U.S. Securities and Exchange Commission. An investigation by Chapman Capital into the backdated stock options issued to former senior executives of Vitesse “has followed a trail of circumstantial evidence and now finds itself on the doorstep of Jim Cole,” Chapman said in a prepared statement. Cole, a 20-year veteran of the Vitesse board who also serves on the Compensation/Audit Committee, is currently a General Partner of Windward Ventures, a venture capital fund for early stage technology investments in Southern California. Tomasetta is the company’s former chief executive officer who was terminated along with other Vitesse executives in May. Cole and Tomasetta have a potential conflict of interest business relationship in that they serve together on the board of directors of Troika Networks, Inc., a portfolio company of Windward Ventures, the SEC filing said. In April, the company appointed a special committee of independent directors to conduct an internal investigation relating to past stock option grants, the timing of such grants and related accounting and documentation.

The Encino Chamber of Commerce holds its wellness committee meeting. 1 p.m. 4933 Balboa Blvd. Encino (818) 789-4711 encinochamber.org

Officials for NBC Universal plan to turn portions of the 391-acre Universal Studios Hollywood back lot into a mixed-use complex with as many as 2,900 residential units, renovate Universal CityWalk and possibly construct another studio facility as part of an ambitious, 25-year master plan for the site released Wednesday morning. The vision plan is the most comprehensive renovation to the Universal City property since the studio opened in 1915. The most significant would be the residential element, which would be arranged around three villages with as much as 100,000 square feet of retail and dining. Plans also call for adding new attractions and 80,000 square feet of additional retail and dining to the theme. CityWalk could also include a new theater complex, retail and restaurants totaling 35,000 square feet; a 100,000-square-foot production studio; 3,000-seat enclosed entertainment venue and 500-room hotels, according to plans. On the production side, the studio also wants to add new outdoor sets, post-production facilities, sound stages, production bungalows and theaters totaling 390,000 square feet and 335,000 square feet of office space. NBC Universal, Thomas Properties Group and the MTA are also in discussions to build a new studio and office element near the existing MTA Universal Station at Lankershim and Campo de Cahuenga Way. The studio said it also wants to work with the city, county and CalTrans to improve traffic flow around the park, especially on the Hollywood Freeway and Lankershim and Barham boulevards. The proposal has been in the works for at least a decade and will require multiple approvals from city and county agencies, since the Universal City property sits in both unincorporated Los Angeles County and the city of Los Angeles. The plan could create 17,000 construction jobs and 11,000 new full- and part-time jobs upon completion and generate $21 million in new annual revenues for the city and county.

The Hilton Burbank Airport & Convention Center will change over to the Marriott banner Dec. 12. The change came after Pyramid Hotel Opportunity Venture II LLC paid $125 million for the property in September. The property at 2500 Hollywood Way had been owned by the Chicago real estate investment trust Strategic Hotels and Resorts Inc.

The Simi Valley Chamber of Commerce holds its mentor committee meeting. 9:00 a.m. Courtyard by Marriott 191 E. Cochran, Simi Valley (805) 526-3900 simivalleychamber.org