The Breakdown

Explaining Southern California's economy

In SoCal business news: Deadline names new executive editor, Wet Seal to exit Arden B business,

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Happy Friday! Welcome to KPCC's business blog, The Breakdown. Every weekday, our staff compiles a list of interesting business stories in the region.

  • Apparel retailer Wet Seal will close Arden B stores (KPCC). The stores targeted women ages 21 to 39. Sales at Arden B stores opened at least a year were down 25 percent in the company's fourth quarter.
  • Deadline has a new executive editor and chief theater columnist, Jeremy Gerard (Deadline). The New York journalist was last chief drama critic and senior editor at Bloomberg News and has worked at publications including The New York Times, Variety and New York magazine. Last year, Deadline's founder Nikki Finke left the entertainment news website (KPCC).
  • Amazon is trying to bypass using UPS and FedEx by testing out its own delivery service in cities like Los Angeles and San Francisco (Wall Street Journal). 
  • One of Allergan's top shareholders wasn't impressed by Valeant's bid to buy the company in deal worth nearly $46 billion (Wall Street Journal). 
  • A Pimco executive is feeling more optimistic about the economy (Bloomberg Businessweek). Scott Mather, head of global fund management and a deputy chief investment officer, tells Bloomberg: "We’ve already left the most intense period of deleveraging that really created all sorts of pressures and adjustments that needed to happen in the economy."
  • Texas politicians and business people will tour Sriracha facility in Irwindale next month (Pasadena Star-News). The visit comes as Sriracha has faced scrutiny from the Irwindale's City Council over complaints about the factory's fumes (KPCC).
  • Desert Hills Premium Outlets in Cabazon has 50 new stores, part of the center's $100 million expansion (Desert Sun).
  • Taco Bell will open its first "fast-casual" taco chain called U.S. Taco Co. in Huntington Beach, that will sell items like Philly cheesesteak tacos (OC Weekly). OC Weekly's Gustavo Arellano finds the store's logo offensive. He says it's "based on Día de los Muertos, the Mexican religious holiday that American hipsters have annoyingly, terribly embraced as their own in their ever-desperate attempts to be 'authentic.'"
  • The Los Angeles Register takes a look at "what sets Silicon Beach apart" from Silicon Valley. One of the subheads to the story says "People here have lives." 

Got business news? Tweet me @thewendylee.

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