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Updated: 9 hours 26 min ago

Leidos, Parsons win spot on $4B nuclear material cleanup contract

Fri, 12/06/2019 - 11:19pm
Leidos Holdings Inc. (NYSE: LDOS) and Parsons Corp. (NYSE: PSN) earned spots on a $4 billion contract as part of a joint venture to support the cleanup of a former nuclear weapons site in southern Washington state.  The Department of Energy announced the award Thursday of the Hanford Mission Essential Services Contract (HMESC), tapping the incumbent contractor Leidos, alongside Centerra Group LLC and Parsons as members of the Hanford Mission Integration Solutions (HMIS) LLC.  The 586-acre Hanford…

Amazon signs lease for more offices in Hudson Yards

Fri, 12/06/2019 - 9:25pm
Amazon.com Inc. is taking over more office space in Midtown Manhattan. The Jeff Bezos-run company (Nasdaq: AMZN) told The Wall Street Journal that it inked a lease in Hudson Yards — the neighborhood of Manhattan that stretches from about West 25th to 41st Street along the river. The e-commerce giant is expected to have more than 1,500 employees occupy 335,000 square feet in a 21-story building at 460 West 34th St.. Real estate company SL Green is currently redeveloping the building. Amazon’s…

Boeing faces $3.9M FAA fine for installing faulty parts on 737 jets

Fri, 12/06/2019 - 7:18pm
The Federal Aviation Administration has proposed fining Boeing $3.9 million for allegedly installing faulty components on approximately 133 737 jetliners. The FAA announced the proposed penalty in a news release, alleging Boeing didn't properly oversee its own suppliers to ensure they complied with safety regulations and Boeing's quality assurance system. The alleged failures by Boeing resulted in 737s being presented to the FAA for certification despite Boeing knowing that the jets weren't airworthy,…

Patti Payne's Cool Pads: Denali exec lists 'Sunset Aviation and Equestrian Estate' for $3.95M (Photos)

Fri, 12/06/2019 - 7:00pm
Author Richard Bach's former estate on a bluff in Stanwood is evidence of his love of aviation. The home sits on 38.2 acres with a private 2,400-foot runway and views of Puget Sound, the Olympic Mountains, Whidbey Island and Camano Island. The property — named “Sunset Aviation and Equestrian Estate” — is owned by Dave and Lyndi Phifer and on the market for $3.95 million. Brokers Brenda Haug and Lisa Lee of New Horizon Realty in Marysville have the listing. Dave is an executive coach and…

Elon Musk’s ‘pedo guy’ post didn’t defame cave explorer, jury finds

Fri, 12/06/2019 - 6:18pm
Elon Musk did not defame a British cave explorer by calling him a “pedo guy” on Twitter, a jury concluded Friday in Los Angeles. The verdict ended a short trial based on an acrid dispute between the men over the high-profile rescue of a group of children trapped in Thailand in the summer of 2018.

Adobe acquires Oculus Medium, a VR sculpting and modeling tool

Fri, 12/06/2019 - 6:13pm
Adobe Inc. announced Friday its plans to acquire Oculus Medium, a virtual reality tool created in Facebook Inc.’s Oculus division that allows users to sculpt, model and paint in a VR environment. The San Jose software giant didn’t say how much it paid for the program, which it said will continue to build out Adobe’s portfolio of 3D and VR tools, such as Photoshop, Dimension, After Effects, Substance and Aero. Medium was created alongside the original Oculus Touch controllers in December 2016.…

UCF awarded NASA grant for space mission power systems

Fri, 12/06/2019 - 6:01pm
The University of Central Florida was one of 14 universities awarded grants under NASA's Space Technology Research Grants' Early-Stage Innovations program. The funding competition aims to accelerate the development of groundbreaking, high-risk/high-payoff space technologies to support the future space science and exploration needs of NASA. UCF mechanical and aerospace engineering associate professor Subith Vasu will lead the team that will use the three-year $550,000 award to develop storable chemical…

Amazon opens its first 4-star store in SoCal

Fri, 12/06/2019 - 5:44pm
Amazon.com Inc. has opened an Amazon 4-star store at The Americana at Brand mall in Glendale, California. The 4,000-square-foot store, which had its grand opening Thursday, is the first Amazon 4-star store in Southern California and the eighth nationwide, including a store in Berkeley, according to Los Angeles Daily News. The Amazon 4-star store sells products from Amazon.com that are rated 4 stars or higher by buyers, as well as top-selling and new and trending products. Products range from consumer…

Layoffs hit San Francisco scooter company six months after its acquisition

Fri, 12/06/2019 - 5:43pm
Six months after acquiring San Francisco-based Scoot Networks, the electric scooter company Bird plans to lay off up to two dozen employees, according to people familiar with the plans. The layoffs follow five months of integration planning, in which gaps and redundancies in positions were identified.  Although the cuts will be across Bird’s global operations, the majority of the pink slips fell on San Francisco. Salaried employees and workers with technical backgrounds are the most affected. “We…

Riot Games forms new third-party publishing label

Fri, 12/06/2019 - 5:43pm
Video game developer Riot Games is further expanding its League of Legends franchise with the launch of a new publishing label, Riot Forge. Under the new venture, Los Angeles-based Riot Games will partner with third-party studios to create story-driven games set in the League of Legends universe. Greg Street, Riot's vice president of IP and entertainment, made the announcement on Twitter. "Riot Forge is something I am proud to have helped create,” Street tweeted. “We are now an indie game…

How Airbnb will crack down on party houses in the wake of California shooting

Fri, 12/06/2019 - 1:40pm
Airbnb's effort to tighten restrictions around guest safety in the wake of the deadly Orinda, California Halloween shooting at one of its listings has led the San Francisco travel giant to unveil a new series of rules meant to temper the possibility of another disaster. The policies – unveiled Thursday in a blog post – raise guest standards, ban so-called "open-invite" parties and improve communication between public officials and Airbnb. While Airbnb has long had a series of guest standards…

Too much money leads to ‘a lot of mistakes’, says Jack Ma

Fri, 12/06/2019 - 1:29pm
Alibaba's founder warns of the consequences of having too much money in a discussion with SoftBank's Masayoshi Son.

This week in L.A. startup news: Rocket Lab 'Running Out of Fingers' with 10th mission

Fri, 12/06/2019 - 1:26pm
Plus other headlines from the Los Angeles-area startup scene including Genies, Postscript, Podcorn, ServiceTitan and Mucker Capital.

S.F. tech company uses artificial intelligence to power faster legal research

Fri, 12/06/2019 - 1:22pm
Fed up with the arcane process of shifting through cases, Casetext's founder discovered another way.

The Funded: Chime rings up $5.8B valuation as Bay Area startups raise over $700M at week's end

Fri, 12/06/2019 - 1:16pm
One of this year's new Bay Area unicorns has reportedly quadrupled its valuation to $5.8 billion with a $500 million Series E round of funding just nine months after it raised a $200 million round. It's San Francisco-based Chime, the biggest of the branchless banks that are popping up around the country. CNBC cited unnamed sources in a story about the funding, which CB Insights says is the biggest single equity investment for one of this new breed of banks. The round was reportedly led by DST…

How Airbnb will crack down on party houses in the wake of California shooting

Fri, 12/06/2019 - 1:09pm
Airbnb's effort to tighten restrictions around guest safety in the wake of the deadly Orinda, California Halloween shooting at one of its listings has led the San Francisco travel giant to unveil a new series of rules meant to temper the possibility of another disaster. The policies – unveiled Thursday in a blog post – raise guest standards, ban so-called "open-invite" parties and improve communication between public officials and Airbnb. While Airbnb has long had a series of guest standards…

INNOVATORS & ENTREPRENEURS: Matt Langan shares plans for disruptive design platform Stuccco

Fri, 12/06/2019 - 1:00pm
Langan founded Stuccco to create an online presence for his father's homebuilding company, but the platform has since shifted to interior design, virtual staging services.

Jury returns $16M judgment against Lau Technologies executives

Fri, 12/06/2019 - 12:41pm
The CEO and other executives at a Littleton company have been found guilty of breaking their fiduciary duties to shareholders and other charges, and now owe $16 million plus interest to the company's original shareholders, according to court documents.

Global manufacturer Rite-Hite spent two years developing IIoT software. Here's why

Fri, 12/06/2019 - 12:40pm
Customer expectations played key role in developing the software products, but company leaders saw industrial internet-of-things demand very early on and knew it was something its customers were interested in.

Plug Power prices stock for offering, looks to raise $110 million

Fri, 12/06/2019 - 12:38pm
Plug Power plans to raise $110 million with the sale of up to 40 million shares of its common stock in an underwritten public offering this month. The prospectus was filed on Monday, and on Thursday Plug Power said it is pricing the offering at $2.75 per share. Morgan Stanley and Barclays are the joint book-running managers for the offering. Oppenheimer & Co., Canaccord Genuity, Craig-Hallum Capital Group and Roth Capital Partners are co-managers for the offering. Plug Power has given the underwriters…

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