Scott Reiner has stepped down as CEO of Glendale Adventist Medical Center for a job at the hospital’s corporate parent. He will take over as senior vice president of Adventist Health next year, said hospital spokeswoman Alicia Gonzalez. Reiner will chair the boards of Howard Memorial Hospital, Ukiah Valley Medical Center and the joint Redbud Community Hospital/St. Helena Hospital board. He also will oversee business development, physician strategies, as well as acquisitions and divestitures. Reiner came to the hospital in 1999. A search is underway for a replacement.

The City Council has voted unanimously to reduce the city’s business tax and reconfigure the number of tax categories for businesses. The move cuts the business tax by 4 percent and reduces 42 business tax categories to nine. Second District City Councilwoman Wendy Greuel, who represents the eastern portion of the Valley, and Council President Eric Garcetti introduced the measure. “We have demonstrated that if you are a business-friendly city you reap the benefits. By rolling back business tax rates and extending breaks to new businesses we are pulling in more revenue and creating more jobs,” Greuel said in a statement. The cuts are part of a phased reduction to the city’s business tax. A 15 percent cut for all businesses was introduced in 2004 and has been phased in over five years. Garcetti and Greuel also introduced a measure to extend a new-business tax exemption.

The U.S. economy has done well in the face of globalization, but a new report shows that only people with college degrees have benefited in the form of higher wages. Read about it in the Washington Post .

Have home prices begun to drop? While the median price of homes sold in the San Fernando Valley in September increased 0.8 percent compared to year-ago levels, the latest data shows that home prices fell 2.5 percent from August 2005, the first such decline registered in the Valley since home sales began slowing this year. The median price of a single family home sold in the Valley in September was $595,000, off by $15,000 from the median price in August. The average home price in the month, $712,000, was off 1.8 percent from year-ago levels and 4 percent from levels one month ago. Meanwhile, the number of single-family homes sold in September sunk by more than 30 percent in September. The month saw 814 closed escrows, off 31.1 percent from September 2005 when 1,182 single-family homes were sold. Condominium prices did not fare much better. The median price of a condominium in the San Fernando Valley dipped 1.3 percent to $380,000 in September compared to $385 in September, 2005. Last month, the median condo price was also $380,000. The volume of condo sales was down by 31.3 percent at 299 in the month, compared to 435 condominiums sold in September, 2005. About 16 more condos, or 5.7 percent were sold in September than in August, 2006. SRAR characterized the price dip as a stabilization created as a result of speculators exiting the market.

The United Chambers of Commerce holds its government affairs committee meeting. noon UCC 5121 Van Nuys Blvd., Sherman Oaks (818) 981-4491 unitedchambers.org

Natrol Inc. has acquired two brands, both in the hair growth area, from Biotech Corp. The Chatsworth-based nutriceutical company bought Nu Hair, which includes hair regrowth tablets and topical serums and shampoos for men and women distributed through mass market channels and Shen Min, which markets similar products through health food stores. Terms of the deal were not disclosed.

Ixia announced the company is conducting an internal review of its revenue recognition that will delay releasing third quarter financial results. The review focuses on revenue recognition with respect to its software upgrade and support practices and the potential impact on the company’s previously reported financial results. The review is being conducted under the direction of the company’s Audit Committee. Ixia expects to announce its third quarter results as soon as practicable after completion of the review. “We are working to complete this work as quickly as possible, so that we can report our full financial results,” Ixia President and Chief Executive Officer Errol Ginsberg said. “Our business in the third quarter was healthy, as we achieved a sequential increase in bookings.” For the second quarter ending June 30, the company reported a net income of $296,000 on revenues of $39.9 million. Ixia is a global provider of IP performance test systems based in Calabasas.

Electronic Sensor Technology received a $2 billion order from China as part of that country’s environmental clean up efforts, the company has announced. The order for instruments and technology is the largest single from China for the Newbury Park-based firm. The patented zNose instruments are able to detect vapors, toxins and dangerous compounds in amounts as small as picograms. “We are excited by these significant additional orders, and I believe they are representative of our continuing long-term relationship with our Chinese distributor,” said Teong Lim, president and chief executive officer of Electronic Sensor Technology. “We expect the People’s Republic of China to use the zNose instruments as a major part of their continuing efforts to improve their environment.” EST, founded in 1996, is a leading provider of homeland security and environmental solutions.

Calling the environment “difficult,” IHOP Corp. reported a 1.3 percent increase in same-store sales for the quarter ended Sept. 30. Same-store sales rose 3.1 percent for the nine month period. “Year to date, our same-store sales increase of 3.1 percent is in line with our annual sales growth expectations of 2 percent to 4 percent for fiscal 2006,” said Julia A. Stewart, chairman and CEO of the Glendale-based restaurant chain. Stewart also noted that the chain’s check average decreased in the quarter. “Continued pricing moderation on the part of franchisees led to slightly decreased check average during the quarter as we aggressively competed for market share and guests took advantage of IHOP’s attractive promotional price points,” Stewart said.

An investment group has purchased Baja Fresh for $31 million. The deal comes four years after the Westlake Village-based restaurant chain was acquired by Wendy’s International. Since then, Wendy’s has revamped the management and restructured the company including the closure of about 16 stores several years ago. While Baja Fresh had a successful track record in California and some Eastern Seaboard markets the restaurants have struggled in other markets. Baja Fresh currently operates about 300 restaurants in the U.S. The deal is expected to close during the fourth quarter.