Good morning! Welcome to KPCC's business blog, The Breakdown. Every weekday, our staff compiles a list of interesting business stories in the region.
- Bad news for some SoCal Edison workers. The company plans to lay off 500 "in-house employees" and 400 to 500 contract workers (Los Angeles Times). Reporter Marc Lifsher says most of the cuts will happen in Irwindale.
- Former Chargers linebacker Shawne Merriman sues Nike (U-T San Diego). Reporter Jonathan Horn says Merriman believes Nike's "Lights Out" clothing line violates his trademark.
- An Herbalife shareholder filed a class action lawsuit against the company for allegedly "failing to disclose to investors that its operations were based on a pyramid scheme" (Reuters). Last month, Herbalife said it is being investigated by the Federal Trade Commission (KPCC).
- China Film Co. makes first investment into Hollywood films (The Hollywood Reporter). Reporter Clifford Coonan says China's state-owned film company is making an "eight-figure equity investment" in two Legendary Entertainment films, "Seventh Son" and "Warcraft." China has been increasing its investment in entertainment. Chris Dodd, head of the Motion Picture Association of America told KPCC last year that China is building 13 movie screens a day.
- Expect a crowd at the first-ever U.S. China Film & TV Industry Expo in September at the L.A. Convention Center (Los Angeles Times). Reporter Richard Verrier says the event is "aimed at broadening business relationships between film and TV producers in the U.S. and China."
- Marketers are experimenting with new ways to get their message across. One of the platforms is Snapchat, which lets users post items for a limited period of time before its deleted. Ad Age takes a look at how Taco Bell filmed a Snapchat video with an iPhone that would only be seen on Snapchat for 24 hours.
- Don't forget to file your taxes today. The City News Service has a list of post offices that will be open late. Also, there will be free chocolate chip cookies from the DoubleTree at the Santa Monica Promenade in light of tax day (Los Angeles Magazine).
Got business news? Tweet me @thewendylee.