The Pacoima Development Federal Credit Union will open its Lakeview Terrace branch on Saturday, February 25 from 10:00 a.m. to 1:00 p.m. at 11954 Foothill Blvd. The opening will be attended by Los Angeles City Councilman Alex Padilla and U.S Congressman Brad Sherman. The credit union, a project of the Valley Economic Development Center, currently has 130 members and over $2 million in deposits. Credit union membership is extended to those in the Northeast San Fernando Valley and members of Pacoima Chamber of Commerce and VICA members. The credit union’s main office is still under construction and is expected to open later this year.

Radio broadcaster, Salem Communications in Camarillo will hold an annual shareholder meeting, Wednesday May 24, 2006 at 9:30 a.m. at the Westlake Village Inn, in Westlake Village. In addition to its radio properties, Salem owns Salem Radio Network which syndicates talk, news and music programming to about 1,900 affiliates. The company is completing acquisitions that will see it owning 104 radio stations.

21st Century Insurance Group continued to expand its business outside California in the fourth quarter of 2005. The Woodland Hills-based company said that its out-of-state business rose over 80 percent for the full 2005 year, compared to a 2.2 percent decrease in direct premiums written in California for the year. For the fourth quarter, the auto insurance provider reported net income rose to $26.4 million or $0.31 per diluted and basic share, from $22.5 million or $0.26 per share for the comparable period a year ago. The results include net realized capital losses of $600,000 for the quarter, compared to net realized capital losses of $2 million for the same period in 2004. “Our plans for entering three states in the second quarter and an additional three states in the third quarter of 2006 are on track,” said Bruce Marlow, president and CEO in announcing the financial results. “Geographic expansion is a key strategy for achieving our long-term growth goal.”

Chatsworth/Porter Ranch Chamber, General Membership Meeting Luncheon 11:30 a.m. Radisson Hotel Chatsworth, 9777 Topanga Canyon, Chatsworth $20 Contact (818) 341-2428 Universal City North Hollywood Chamber, Networking Luncheon Sizzler, 6343 Laurel Canyon Blvd, North Hollywood $15 prepaid, $17 at the door Contact (818) 508-5155 Mid Valley Chamber of Commerce, Business Mixer 5:30 p.m. 7:30 p.m. VEDC, 5121 Van Nuys Blvd., 3rd Floor, Van Nuys Free Admission, $5 for non-members Contact (818) 989-0300 Burbank Chamber of Commerce, Business Mixer 5:30 p.m. 7:30 p.m. Castaway Restaurant and Banquet Center, 1250 Harvard Road, Burbank $10 for members, $15 for prospective members Contact (818) 846-3111

Homestore Inc. said today that it will be changing its name to Move Inc. Company officials said the new name will be more in line with the company’s efforts to connect consumers with realtors, home builders, rental property owners and move-related advertisers. The new Move.com Web site will replace Homestore.com, HomeBuilder.com and RENTNET in the second quarter of 2006 and will be a more comprehensive move and real estate search engine. Customers will have access to Realtor.com listings as well as additional listings from across the Web. The Westlake Village Company will also be adding features to its Realtor.com Web site, like adding its Welcome Wagon Local Business Directory to the Realtor.com community pages. The company will be debuting other new offerings soon.

Family restaurant chain IHOP Corp. in Glendale reported a 5 percent drop in 2005 fourth-quarter earnings to $10 million, or $0.53 per share on sales of $88 million. Profits fell due to expenses involved with closing certain locations. In 2004, fourth-quarter profit was at $10.5 million, or $0.52 per share on sales of $94.4. For the full year of 2005 earnings rose to $43.9, or $2.24 on sales of $348 million compared to 2004 earnings of $33.4, or $1.61 per share on sales of $359 million. Julia A. Stewart, IHOP president and CEO, attributed the earnings increase to higher same-store sales and new restaurant openings. Same-store sales, stores open for at least one year increased 2.9 percent company-wide. IHOP opened a total of 67 restaurants in 2005, 25 of which were opened during the fourth quarter, there are now 1,242 IHOP restaurants throughout the United States and Canada. At the end of 2005, IHOP signed agreements to develop a total of 26 new restaurants over the next few years, bringing signed, optioned and pending commitments to a total of 419 restaurants.

PS Business Parks Inc. said it earned $4.9 million or $0.22 per diluted share on revenues of $55.9 million for the fourth quarter of 2005. The performance compared with net income allocable to common shareholders of $32.3 million or $1.47 per share on revenues of $54.6 million for the like period in 2004. Officials at Glendale-based PS Business Parks said that its revenues increased as a result of improved occupancy in the company’s portfolio. The company attributed the earnings decline to a decrease in the gains from disposition of real estate.

Valley Economic Development Center (VEDC), Capital Access Center Open House 4:00 p.m. 7:00 p.m. 315 West 9th St. Suite 501, Los Angeles Contact (818) 907-9977 ext. 231 Woodland Hills Chamber of Commerce, Business Mixer 5:15 p.m. The Metropolitan at Warner Center, 5555 Canoga Ave., Woodland Hills, CA 91367 Contact (818) 347-4737

Cherokee Inc. has signed an agreement with Pick’n Pay Retailers, which will sell Cherokee’s lines of men’s, women’s and children’s clothing along with footwear and home textiles in South Africa. Michael Coles, a director of Pick’n Pay Retailers, said that Cherokee’s international growth over the last several years shows it will be a valuable partner. Cherokee’s brands are available in the United States, Canada, the United Kingdom, Ireland and Mexico. The company has recently launched in the Czech Republic, Slovakia and Poland. Matt Nawrocki, senior vice president of brand development and marketing for Cherokee said the company is working to develop new partnerships in Europe, South America and Asia.

North American Scientific Inc. of Chatsworth has received approval to sell its imaging system, BAT SXi in China. The radiation therapy product maker’s BAT SXi is an ultrasound system that examines cancerous tumors before delivering radiation therapy. Sales in China will begin immediately. As a result of the approval, the company’s shares rose $0.17, or 7.6 percent, to $2.40 Tuesday morning on Nasdaq. Last September, the company was approved to sell its Peacock radiation therapy product in China, which uses laser radiation to apply to tumors in difficult treatment areas.