Kohl’s shoppers may not be able to find her wedding gowns, but they will be able to select other Vera Wang offerings under a deal just announced. Kohl’s will offer designs made specifically for the retailer by Wang, known for her elegant and pricey wedding gowns under the label Very Vera by Vera Wang. The line will be sold in all Kohl’s stores beginning in the fall of 2007. With the announcement, Kohl’s joins Target and other discount and mid-price retailers, which have for some time now been adding designer names made specifically for the chains at far lower prices than the original lines. Target markets Isaac Mizrahi and Cynthia Rowley merchandise and JC Penney Co. has inked a deal with Nicole Miller.
Trio-Tech adds on to China Plant
Trio-Tech International is expanding its Suzhou, China, semiconductor testing facility to meet the growing need in the Asian market, the company announced Thursday. The company expects completion of the expansion in the fourth quarter. The facility is located in the growing Yangtze Delta area. It provides specialized testing and burn-in services and manufacturing of burn-in equipment to serve China’s semiconductor, communications, and consumer electronics markets. Van Nuys-based Trio-Tech also has facilities in Singapore, Malaysia, Thailand, and Shanghai, China.
Friday in the Valley
The San Fernando Valley Employee Assistance Professionals Association hosts a training session on ethics. 8 a.m. Tarzana Treatment Center 18646 Oxnard Street, Tarzana (818) 759-9999 sfveapa.com
Hilton Burbank Sells for $125 million
The Hilton Burbank Airport & Convention Center hotel has been sold for $125 million. Pyramid Hotel Opportunity Venture II LLC of Boston will pay $256,000 per room for the 488-room property, with also includes 50,000 square feet of meeting space. The Hollywood Way hotel had been owned by Strategic Hotels & Resorts Inc., a Chicago real estate investment trust that owns 19 properties and more than 9,000 rooms. The deal is expected to close next month.
U.S. Sweet to Nestle
Nestle SA reported an 11 percent increase in first-half profit, thanks in part to what the company said was strong performance in the U.S. Nestle, which is based in Vevey, Switzerland, with U.S. headquarters in Glendale, reported net profit the equivalent of $3.38 billion in U.S. currency for the first half, noting that the food, beverage and nutrition businesses generated 6 percent organic growth, a measure that does not take acquisitions into account. Organic growth, which is one of the company’s primary measurements, for all Nestle divisions rose to 6.4 percent, compared to 5.6 percent in 2005, and beating analyst expectations of 6.3 percent growth. Sales rose 11 percent to the equivalent of $38.4 billion in U.S. dollars.
Shurgard Acquisition Completed
Public Storage Inc. has completed the acquisition of Shurgard Storage Centers Inc. in a deal valued at about $5.5 billion. Glendale-based Public Storage said the deal expands the company to include over 2,100 facilities in 38 states and seven European nations. Public Storage will retain its headquarters in Glendale.
Music Exec Donates $10 million to CSUN
Music impresario Mike Curb has donated $10 million to California State University Northridge to endow the school’s arts college. The donation is the single largest cash contribution to the university and the largest gift from an alumnus. Curb attended the school in 1962 and 1963. “Cal State Northridge is essential to the future of this region, so I feel my gift here is really doing something of value,” Curb said in a statement. Half of the $10 million will go toward the College of Arts, Media and Communications. The other half will help fund the $100 million Imagine the Arts Center, a learning laboratory and regional performing arts center for CSUN students. Curb is chairman and owner of Curb Records, based in Nashville. He also wrote more than 400 songs and composed or supervised the music for 50 motion picture soundtracks. As leader of The Mike Curb Congregation vocal group he produced 25 gold- or platinum-selling records. In recognition of the gift, university President Jolene Koester will ask the California State University’s Board of Trustees to rename the arts college the Mike Curb College of Arts, Media and Communications.
Thursday in the Valley
The Calabasas Chamber of Commerce hosts a luncheon to discuss the state of the Valley’s economy. 11:30 a.m. Calabasas Inn 23500 Park Sorrento, Calabasas (818) 222-5680 calabasaschamber.com The Woodland Hills Homeowner Organization holds its general meeting with special guest, Mayor Antonio Villaraigosa. 7:30 p.m. Pacific Boys’ Lodge Dining Room 4900 Serrania Ave., Woodland Hills (818) 347-1577 WHHO.com
Late Quarterly Filings Escalate
A record 138 companies were late filing quarterly financial reports with the Securities and Exchange Commission in the second quarter, according to a report just released. The previous record was set in the first quarter when 120 companies filed late, said the report’s authors, Glass Lewis & Co. The recent rash of stock option reviews and investigations played a role in the late filing for most of the companies involved, the report noted. Several companies in the San Fernando Valley are among those caught in the delays that have resulted from tougher scrutiny on the dating of executive stock option grants, including Semtech Corp., Vitesse Semiconductor Corp. and The Cheesecake Factory Inc.
Airport Earns Marketing Awards
Van Nuys Airport won two first place awards in the 2006 Excellence in Marketing and Communications from the Airport Councils International North America. The airport won in the special event category for its Rockin’ AirFest 2006 that took place in June, and in the video and film production category for the DVD “The Life and Legacy of Van Nuys Airport.” The awards were two of the eight overall won by airports owned and operated by Los Angeles World Airports. Among marketing and communications departments, the awards from the ACI are considered a major accomplishment, said Nancy Castles, a spokeswoman for LAWA. ACI-North America represents local, regional and state governing bodies that own and operate commercial airports in the United States and Canada.