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BUSINESS
By Veronica Rocha | February 11, 2009
GLENDALE — Retail analysts expect that consumers will be spending less on Valentine’s Day gifts this year than last year’s holiday, according to a survey. With consumer spending down, some Glendale and Burbank retailers, who bank on the holiday to make a profit, are concerned that the economic slump will stop customers from shopping at their stores. Jewelry store owner Jack Abadjian has noticed that customers are buying less and spending less on precious stones and metals at his shop, Montrose Jewelers.
NEWS
By Zain Shauk | January 13, 2010
The U.S. Census Bureau will hire at least 3,000 workers in the San Fernando Valley this year, including at least 1,000 in Burbank, offering a potential boost to sagging employment figures in the region, experts said. The workers will be part of the effort to tally demographic information in the region as part of the nation’s 10-year count, bureau officials said. Rep. Brad Sherman (D-Sherman Oaks), who announced the expected valley census hires, celebrated the potential jobs, which will pay a starting hourly wage of $17 for census takers.
BUSINESS
By Zain Shauk | April 22, 2009
BURBANK — Jobless rates in Burbank and Glendale are nearing 10%, continuing a steady rise from the start of the year, according to the latest figures released by the state. Unemployment rose to 9.9% in Glendale in March and 9.2% in Burbank, with a combined total of 16,000 job-seekers out of work among the two cities, said Olga Hernandez, labor market specialist for the Employment Development Department. The rates in the two cities were less than California’s record average of 11.2% in March, which was up from 10.6% in February, state figures show.
NEWS
By Bill Kisliuk, bill.kisliuk@latimes.com | March 1, 2011
While “Two and a Half Men” star Charlie Sheen’s clash with Warner Bros. plays out under the klieg lights, many others are quietly feeling the economic impact of the Burbank studio’s decision to halt production of the hit comedy. “The entertainment industry isn’t just people in front of the camera,” Maurice Stein, owner of Burbank’s Cinema Secrets Beauty Supply, said. “When a show shuts down for any reason, we lose business immediately.
BUSINESS
By Zain Shauk | December 2, 2009
DOWNTOWN — Retailers are hoping that momentum from strong foot traffic over the Black Friday weekend will continue through the remainder of the holiday shopping season, even as discounts from online stores are expected to cut into sales at brick-and-mortar outlets. Area stores reported their strongest-ever Black Friday-related foot traffic this weekend, with many shoppers waiting in line overnight to take advantage of targeted discounts. More than 1,000 waited outside Best Buy in Atwater Village before the doors opened at 4 a.m., and hundreds more filled the Glendale Galleria, where five stores opened at midnight, more than in past years.
BUSINESS
By Zain Shauk | May 12, 2010
General Growth Properties Inc., the operator of the Glendale Galleria and the Burbank Town Center, reported Monday that its first-quarter revenues were down from their already depressed levels of a year ago. The announcement came as the company worked to restructure its debt and emerge from bankruptcy protection. The Chicago-based firm?s revenues fell about 6.5%, to $761 million, compared with the first quarter of 2009. The tenant occupancy rate at its more than 200 regional malls slipped to 90.5%, down from 90.9% in the first three months of 2009, according to the company.
BUSINESS
By Christopher Cadelago | April 12, 2010
SOUTH GLENDALE — Spurred by a renewed appetite for 3-D media, the entertainment industry is expected to remain the fastest-growing employer in the region, a trend that bodes well for job seekers across Burbank and Glendale, labor analysts said. The Verdugo Workforce Investment Board on Thursday was presented with what analysts referred to as the first database of Burbank- and Glendale-based entertainment companies working in digital fields. The database of some 650 local businesses would be used to give the board a detailed snapshot of the region’s specialties and strengths, and the ability to match them with emerging technologies.
BUSINESS
By Zain Shauk | November 7, 2009
DOWNTOWN — Expectations grew Thursday for improved holiday sales as retailers in October posted their biggest gains in more than a year, renewing hope for a major improvement over the dismal 2008 winter season. Retail sales at 32 U.S. chain stores jumped 2.1% in October compared with a year ago, the second consecutive month of growth following 13 months of declines, the International Council of Shopping Centers reported Thursday. Another survey found mixed signs of improvement in the retail segment, with October same-store sales growing 1.8% over 2008 marks, which was lower than an expected 2% increase, but still a positive sign, according to a Thomson Reuters analysis of 30 national companies.
BUSINESS
By Zain Shauk | October 2, 2009
BURBANK — The unemployment rate in Burbank held at 10.2% in August, according to figures released Friday by the California Economic Development Department. The unemployment rate in Glendale crept up to 11% in August, up from 10.9% a month prior when the rate surged a full percentage point, according to the department. Although the figures showed little or no change, labor forces in both cities shrank as fewer job seekers are looking for work, the department reported.
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BUSINESS
By Veronica Rocha | February 11, 2009
GLENDALE — Retail analysts expect that consumers will be spending less on Valentine’s Day gifts this year than last year’s holiday, according to a survey. With consumer spending down, some Glendale and Burbank retailers, who bank on the holiday to make a profit, are concerned that the economic slump will stop customers from shopping at their stores. Jewelry store owner Jack Abadjian has noticed that customers are buying less and spending less on precious stones and metals at his shop, Montrose Jewelers.
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