Good Day! Welcome to KPCC's business blog, The Breakdown. Every weekday, KPCC compiles a list of interesting business stories in the region.
- Hollywood's (quiet) Hooray for the GOP: the Motion Picture Association of America is quietly ramping up outreach to Republicans and conservative-leaning groups. The Wall Street Journal calls it a "Hollywood-style remake." Look for more on this later from KPCC's Kitty Felde.
- California lost more than 16,000 film and television jobs in an eight-year period due to production leaving the state, according to a report by the Milken Institute on Thursday. KPCC's Wendy Lee reports on the economic risks. California Governor Jerry Brown remains uncommitted on whether the state should up its tax incentive program for film and television productions, according to The Hollywood Reporter. KPCC and the Milken Institute are sponsoring a panel discussion this evening on how to keep production jobs local. Here's more information.
- Visual Effects Artists might be encouraged by one recommendation from the Milken Institute report: that money spent on digital visual effects and animation also qualify for filmed production incentives in California. Nearly a year after VFX firm Rhythm and Hues declared bankruptcy just days before winning an Oscar for its work on "Life of Pi," I checked in on the industry searching for sustainability.
- High hopes for a high-rise. At 4th Street and Broadway, developer Izek Shomof wants to build a 34-story apartment skyscraper more than twice as tall as most other buildings in the historic core of downtown L.A, according to the Los Angeles Times.
- San Pedro's oldest business closes today. According to this article in the Daily Breeze, the Seaside Pharmacy, founded in 1889, will close permanently, unable to survive changes in the pharmacy industry.
- Calpers Chief Investment Officer Joe Dear, has passed away. Business Insider reports Dear was 62, had been diagnosed last year with prostrate cancer, and had been on leave since last month from the largest pension fund in the U.S.