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☆ Fisker is closing its Manhattan Beach headquarters, employees say
▼ + stars: | 2024-05-06 | by ( Grace Kay | ) www.businessinsider.com time to read: +1 min

Fisker is closing down its Manhattan Beach headquarters, three sources told Business Insider. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFisker has begun to close its Manhattan Beach office, the site of the company's headquarters, three company sources told Business Insider. This story is available exclusively to Business Insider subscribers.

Persons: Fisker, — Organizations: Business, Service Locations: Manhattan, Manhattan Beach , California, La Palma , California

☆ Read the email Fisker sent to staff warning of layoffs if the company can't correct course
▼ + stars: | 2024-04-30 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewFisker warned employees on Monday that they could be laid off in two month and the company's facility could close if the company is unable to course correct. The company told staff it was bringing in a restructuring officer last week, according to a previous email viewed by BI. AdvertisementThree current employees told BI that everyone they had spoken to at Fisker said they had received the notice. Should this possibility materialize, the Company has an obligation to provide "conditional notice" that employees — including yourself — will be terminated on June 28, 2024.

Persons: —, Fisker, John DiDonato Organizations: Service, Business, BI, Worker, Fisker, Inc, Company Locations: Manhattan Beach , California, La Palma , California, Munich, Vienna, ____________

☆ Fisker warns staff they could get laid off in 2 months
▼ + stars: | 2024-04-29 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Fisker warned staff of potential layoffs in two months, according to 3 employees and an email viewed by BI. Fisker announced a 15% staff cut earlier this year. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFisker sent staff a notice on Monday telling them they could be laid off from the company in two months, according to 3 employees and an email viewed by Business Insider. AdvertisementThe three current employees told BI that everyone they had spoken to at Fisker said they had received the notice.

Persons: Fisker, —, Henrik Fisker Organizations: BI, Service, Business, Worker Locations: Manhattan Beach , California, La Palma , California, Munich, Vienna

☆ I moved from Malibu to Vegas and bought a $1.9 million home. California is beautiful but it got too difficult to live there.
▼ + stars: | 2024-01-25 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

Gus Lira, a managing partner at a jet chartering company, recently moved from Malibu to Las Vegas. Lira also said the $1.9 million home he got in Vegas would be $8 million in Malibu. AdvertisementLas Vegas is a lot more affordableI had been to Las Vegas many times, but I'd never been anywhere else but the strip. Everything was green, green, green, green, green. Small homes start at $3 million, $4 million, $5 million.

Persons: Gus Lira, Lira, —, it's, I'm, I'd, Gus Lira's, would've, let's Organizations: Service, Business Locations: Malibu, Las Vegas, California, Vegas, Malibu , California, Los Angeles, Texas , Florida, Mexico, Hermosa Beach, Texas, Florida, Miami, Dallas, Houston, Idaho , Wyoming, Orange County, Summerlin, Nevada, Hollywood, Hermosa, Manhattan

☆ Even wealthy Los Angeles residents are moving to (slightly) cheaper cities and mansions out of state
▼ + stars: | 2024-01-15 | by ( Dan Latu | Kelsey Vlamis | ) www.businessinsider.com time to read: +6 min

Many wealthy buyers say they were driven out by a so-called mansion tax in Los Angeles, among other tax-related issues. Los Angeles topped Redfin's list of US metropolitan areas that homeowners are most looking to leave, based on their user data of home searches. Wealthier Americans — those making more than $200,000 per year — are moving out of high-cost cities like New York and Los Angeles, according to personal finance site SmartAsset. San Diego real-estate agent Jennifer Janzen says she's recently had Los Angeles clients head south to trade up in style. Another client of Janzen's was a young family who grew tired of the city life in Los Angeles.

Persons: —, Gus Lira, Lira, Lira's, Summerlin, she's, Jennifer Janzen, Janzen, Sotheby's, grâce, Jade Mills, Rob Desantis, Mary Fitzgerald Organizations: Service, Getty, Hollywood, Las, Golden, LA, Bloomberg, Los, Netflix Locations: Los Angeles, Malibu, California, Orange County, Las Vegas, Nevada, Vegas, Red, Vegas from California, Seattle, Florida , Texas, Tennessee, New York, Diego, Angeles, Rancho Santa Fe, San Diego, LA, Santa Fe, Manhattan

☆ Tech Investor Wants $150 Million for California ‘Beach Bungalow’
▼ + stars: | 2023-11-22 | by ( E.B. Solomont | ) www.wsj.com time to read: 1 min

A California mansion that spurred neighborhood turmoil when it was built is going on the market for $150 million. The seller of the roughly 12,640-square-foot beachfront home in Manhattan Beach is tech investor Rob DeSantis, who co-founded software company Ariba and was an early investor in LinkedIn. He purchased three adjacent lots in Manhattan Beach, a coastal city about 20 miles from Los Angeles, for approximately $13 million around 2000, he said, and then spent several years designing a seven-bedroom home and pool.

Persons: Rob DeSantis Organizations: LinkedIn Locations: California, Manhattan Beach, Los Angeles

The lawsuits said that several New Balance athletic shoes and Skechers sneakers misuse Nike's patented "Flyknit" technology for running, soccer and basketball shoes. Nike has previously sued Adidas (ADSGn.DE), Puma (PUMG.DE) and Lululemon (LULU.O) for infringing Flyknit patents. Representatives for Nike, New Balance and Skechers did not immediately respond to requests for comment on the Monday lawsuits. Nike sued Manhattan Beach, California-based Skechers in Los Angeles, claiming that shoes, including Skechers' Ultra Flex and Glide Step brands, infringed on its patents. Nike asked the courts for an unspecified amount of money damages and court orders permanently blocking New Balance and Skechers from infringing the patents.

Persons: Carlo Allegri, Lululemon, Skechers, Blake Brittain, David Bario, Aurora Ellis Organizations: Nike, REUTERS, Footwear, New, Adidas, Puma, Boston, Manhattan, Thomson Locations: New York , New York, U.S, Beaverton , Oregon, Massachusetts, Manhattan Beach , California, Los Angeles, Washington

☆ At South Brooklyn’s Beaches, a Battle of the Buoys
▼ + stars: | 2023-08-19 | by ( Alyson Krueger | ) www.nytimes.com time to read: +1 min

Eight years ago, Capri Djatiasmoro watched helplessly as four Jet Skis ran over her friend while he was swimming at Brighton Beach. Decades ago, a line of buoys ran parallel to the shore, marking the boundary between swimmers and boaters. “Some boat and Jet Ski drivers don’t even know there is this law,” said Ms. Djatiasmoro, 72, a retired advertising executive and avid open-water swimmer who lives in Brooklyn. “Some know, but in the open water it’s hard to tell exactly where that mark is.” Jet Skis regularly come very close to the borough’s beaches, she said, especially in the late afternoon, after lifeguards have left for the day. “I love the ocean, I love swimming, and I want to keep people safe while enjoying these things,” she said.

Persons: ”, “, Djatiasmoro, Sandy Hook Organizations: Jet, Brighton Beach, Coney Island Hospital, New York, Yorkers Locations: Coney, New York State, New York City, Brooklyn, N.J, Coney Island, Manhattan Beach

☆ These education-tech startups are aiming to help kids with autism, ADHD and dyslexia in school
▼ + stars: | 2023-08-15 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +7 min

A new group of startups are helping children with conditions like autism and ADHD learn in schools. And neurodivergent students that require special education assistance and mental health support are behind the learning curve. Staffing qualified special education teachers has also become a problem for schools. As more districts look for solutions that can help address these problems, startups can be the ones offering the tools. In the last two years, though, more generalist investors have begun to invest in startups in this area.

Persons: Vanessa Castañeda Gill wasn't, Castañeda Gill, Gill, Vanessa Castañeda Gill, Guadalupe Lara, Edweek, Rebecca Kaden, Vijay Ravindran, Suchi Deshpande, Ravindran, Floreo, Alex Alvarado, Alvarado, Daybreak's, Diana Heldfond, Dan Povitsky Organizations: Venture, Morning, Progress, Staffing, National Center for Education Studies, ABC News, Union Square Ventures, Meta, Vine Ventures Locations: Manhattan Beach , California, Floreo, America

☆ The pandemic learning loss was worse for kids with special needs. Now, startups are helping students with autism, dyslexia, and ADHD get back on track.
▼ + stars: | 2023-08-15 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +7 min

A new group of startups are helping children with conditions like autism and ADHD learn in schools. And neurodivergent students that require special education assistance and mental health support are behind the learning curve. Guadalupe Lara, an intensive behavioral instruction aide for students with special needs at Pacific Elementary in Manhattan Beach, California, said helping her students recover from the learning losses during remote learning during the pandemic has been very tough. Staffing qualified special education teachers has also become a problem for schools. In the last two years, though, more generalist investors have begun to invest in startups in this area.

☆ Redditors in LA are compiling a list of restaurants that ask customers to pay extra fees as diners grow increasingly frustrated with added charges
▼ + stars: | 2023-08-14 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Redditors are compiling a list of Los Angeles restaurants that charge diners extra fees on their checks. The additional costs include security charges, service charges, card fees, and "administrative fees." Redditors have begun compiling a list of restaurants in Los Angeles that charge diners additional fees on their checks. The Google Sheets document, which started in r/LosAngeles, has more than 200 entries, with fees including corkage charges, service charges, and credit card fees. Some are a bit more vague, described on their menus or websites as "administrative fees" or "restaurant fees."

Persons: it's, gratuities, Il Organizations: Google, Service, Oceanview Locations: Angeles, Wall, Silicon, Los Angeles, Santa Monica, Hollywood, Venice, Century City, Encino, Manhattan Beach, Lake, Perch, Downtown Los Angeles, Korean, Alhambra

This summer, she and Taylor Swift seemed to prove it. Some estimates suggest that Beyoncé’s world tour could gross even more than that by the time it wraps in October. Taylor Swift and Beyoncé fans have been shelling out on everything from secondhand tickets that cost more than a flight to Europe to fancy fingernails to match the singers’ wardrobe. Beyoncé’s shows are expected to spur $4.5 billion in spending, based on a separate QuestionPro survey. Both the hotel and its neighbors reported surging demand that pushed up room rates and sold out many properties.

Persons: Beyoncé, Taylor Swift, Swift’s, Swift, Haze Organizations: Beijing Locations: Europe, North America, Shade, Manhattan Beach, Calif

[1/2] Shoppers walk with Steve Madden bags as pre-Thanksgiving and Christmas holiday shopping accelerates at the King of Prussia Mall in King of Prussia, Pennsylvania, U.S. November 22, 2019. The Steve Madden sneakers feature an "S" design that is likely to mislead consumers into thinking Skechers made or endorsed them, the lawsuit said. Representatives for Steve Madden did not immediately respond to a request for comment Wednesday. Manhattan Beach, California-based Skechers asked the court to order Steve Madden to stop the alleged misuse of its trademarks and requested an unspecified amount of money damages. Skechers also sued Long Island City, New York-based Steve Madden in 2015 for allegedly infringing several design patents covering aspects of its sneakers.

Persons: Steve Madden, King, King of Prussia, Mark Makela, Skechers, Steve Madden's, Berkshire, Hermes, Steven Madden, Daniel Petrocelli, Jeffrey Barker, O'Melveny, Myers, Brooks, Hermès, Blake Brittain Organizations: REUTERS, Manhattan, Nike, Adidas, Berkshire Hathaway, Brooks Sports, Inc, Steven Madden Ltd, Central, Central District of, Thomson Locations: Prussia, King, King of Prussia , Pennsylvania, U.S, Los Angeles, Manhattan Beach , California, Long Island City , New York, Central District, Central District of California, NY, Washington

Juneteenth became an official federal holiday two years ago, but it was an unofficial holiday for many Black people before then. We should say, "We are a nation of Indigenous peoples, enslaved peoples, and immigrants." Since President Biden signed the Juneteenth National Independence Day Act into law two years ago, Juneteenth is now a federally recognized holiday. Some schools, such as Georgetown, have gone further than acknowledgement by renaming buildings that glorify slave owners and offering full scholarships to descendants of enslaved peoples. The Juneteenth National Independence Day Act is but another step towards inclusion of all peoples who made America: "We are a nation of Native peoples, enslaved peoples, and immigrants."

Persons: Juneteenth, —, Lincoln, Biden, Charles, Willa Bruce, Klansmen, Gavin Newsom, Bruce Organizations: Service, Union, Texans, Plymouth Rock, Civil, Evanston, Colleges, Ivy League, Brown, Princeton, Harvard Locations: United States, Indigenous, Texas, Plymouth, America, Manhattan, California, Evanston In Evanston , Illinois, Christian, Evanston, Amherst , Massachusetts, Amherst, Columbia, Georgetown

☆ New York City teachers say students are increasingly coming to school high: report
▼ + stars: | 2023-05-28 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

New York City teachers say children are increasingly coming to school high, per The New York Times. But the proliferation of unlicensed smoke shops has become a major issue among city officials. Gale Brewer, a New York City council member, pointed to the growing number of unregulated vape shops in the city — using her own Upper West Side district as a barometer. New York City Eric Adams has pledged to go after unlicensed smoke shops, but he has not yet taken broad steps do so, per The Times. Manhattan District Attorney Alvin Bragg Jr. has also taken a firm stance against unlicensed shops by floating evictions, but his office has not yet gone through with such actions.

CompaniesCompanies Related documents Hermes International SCA FollowSkechers USA Inc FollowApril 26 (Reuters) - French luxury fashion house Hermès International SCA (HRMS.PA) has settled a lawsuit brought by Skechers USA Inc (SKX.N) that claimed Hermès sneakers infringed Skechers' patent rights, according to a Wednesday filing in Manhattan federal court. Representatives for the companies did not immediately respond to requests for comment and additional details. Manhattan Beach, California-based Skechers sued Hermès last year, alleging its Eclair and Envol sneakers infringe two Skechers design patents covering the undulating "Massage Fit" soles in its "Go Walk" walking shoes. Skechers said the soles of Hermès' shoes were "substantially the same" as its soles and requested an unspecified amount of money damages. Skechers has also sued Fila, Reebok, Steve Madden and other shoemakers in the past for infringing "Go Walk" design patents, in cases that later settled.

☆ Stocks making the biggest moves midday: First Republic, Signet Jewelers, Snap and more
▼ + stars: | 2023-03-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

A customer walks past an ATM outside of a First Republic Bank branch in Manhattan Beach, California, on March 13, 2023. First Republic Bank — Shares of First Republic erased earlier losses and were last up about 22%. UiPath — The stock surged 17.5% after the automation software company reported fourth-quarter adjusted earnings per share of 15 cents, beating the StreetAccount estimate of 6 cents per share. Adobe — The software maker saw its stock jump nearly 5% after the company reported fiscal first-quarter results that topped Wall Street estimates. The Wall Street firm said the stock has fallen to levels that are attractive.

☆ The coast of Southern California is becoming a hotspot for great white sharks
▼ + stars: | 2023-03-01 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +7 min

Great white shark numbers are increasing off the coast of Southern California's beaches. Adult white sharks can reach 12-20 feet, but they rarely come close to the shoreline. California banned actively targeting white sharks in 1994, as well as certain fishing nets that often entrapped the sharks. Warning signs for shark sightings remain in Long Beach, California, on May 16, 2017, where Great White sharks and their pups have been sighted regularly off southern California beaches. Researchers emphasized it is still safe to swim along the Southern California coast, which sharks have historically inhabited longer than us.

☆ Fisker confirms Ocean EV deliveries will begin this spring, on track to build over 40,000 in 2023
▼ + stars: | 2023-02-27 | by ( John Rosevear | ) www.cnbc.com time to read: +3 min

Henrik Fisker stands with the Fisker Ocean electric vehicle after it was unveiled at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA on November 16, 2021 in Manhattan Beach, California. Electric vehicle startup Fisker said Monday that it spent less money in 2022 than expected, and that it remains on track to begin deliveries of its Ocean SUV this spring and to build more than 40,000 vehicles in 2023. "These results reinforce our expectation that, at the time of launch, the Fisker Ocean will have the longest range of any SUV/Crossover priced below $70,000," he said. Fisker expects to complete the testing needed for regulatory approval of the Ocean next month, and to ramp up production – and begin deliveries -- in the second quarter. Fisker spent a total of $702 million in 2022, a bit below its guidance range of $715 million to $790 million.

☆ For the Black community, bitcoin represents an opportunity for wealth preservation
▼ + stars: | 2023-02-24 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

But for many in the Black community, that narrative is still alive and it's imperative that people stay focused on it. There's a long game to play, however, particularly for the Black community. For Black people, that's a golden opportunity to level the playing field and give them "sovereignty" over their wealth, said Lamar Wilson, founder of crypto-focused network Black Bitcoin Billionaire. Fast forward to today, and Black people still largely start their wealth building journeys from behind. Still, within that group, at every income level, there's a big difference in the unbanked rates between Black and white households.

Last week, the Bruces’ great-grandsons sold it back to the county for nearly $20 million. However, equally as shortsighted is treating this case as a model for reparations for all Black Americans, as some have suggested. Doing so would ignore that true reparation requires repair, and this solution doesn’t address the sources of racial inequality in America’s real estate system. Invariably, Blacks’ property was most endangered when it became valuable, or when it threatened the value of white property and business interests. In gentrifying housing markets, tax sales serve as a lucrative profit source, whose main victims are Black, elderly and low-income people.

☆ Chili's CEO bought grills that can cook a medium steak in under 3 minutes — and says they could shave more than $5 million in losses from unhappy customers
▼ + stars: | 2023-01-09 | by ( Nancy Luna | ) www.businessinsider.com time to read: +2 min

Over the summer, Chili's was testing drone delivery and dining-room robots to improve operations. But, under new CEO Kevin Hochman, Brinker-owned Chili's ditched robots in favor of kitchen automation. "The robotics were slower than what our servers can do," Hochman told Insider. "The robotics were slower than what our servers can do," Hochman told Insider. That alone is likely to save the company millions of dollars from having to comp steaks sent back by unhappy customers.

☆ Los Angeles County to pay Black family $20 million to buy back wrongly seized beach
▼ + stars: | 2023-01-04 | by ( Brendan O'Brien | ) www.reuters.com time to read: +2 min

Jan 4 (Reuters) - Los Angeles County will spend $20 million to purchase a prime beachfront property from the heirs of an African-American couple who were given the land back a century after local officials unjustly stripped it from them. The Bruce family has informed county officials that they have decided to sell Bruce's Beach to the county for the estimated value of the Manhattan Beach property, Janice Hahn, chairperson of the Los Angeles County Board of Supervisors, said in a tweet on Tuesday. Before it was taken by the county, the property had been a rare resort where Black people could gather and enjoy the beach in segregated and discriminatory Los Angeles County of the early 20th century. When it was returned, the Bruce family had agreed to lease it to the county for $413,000 per year, while the county retained the right to buy it. Reporting by Brendan O'Brien in Chicago Editing by Peter GraffOur Standards: The Thomson Reuters Trust Principles.

The city did nothing with the property, and it was transferred to the state of California and then to Los Angeles County. The county built its lifeguard training headquarters on the land, which includes a small parking lot. And then it turned into a tragic story for my family,” Anthony Bruce, the great- great-grandson of the Bruces, previously told NBC News. And unfortunately, my family was the victim of a hate crime and the prejudice that was around during those times. Hahn learned about the property’s history and launched the complex process of returning the property, including determining that two great-grandsons of the Bruces are their legal heirs.

☆ EV maker Fisker faces liquidity questions after short-seller claims its cash is "tied up"
▼ + stars: | 2022-12-01 | by ( John Rosevear | ) www.cnbc.com time to read: +4 min

Henrik Fisker stands with the Fisker Ocean electric vehicle after it was unveiled at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA on November 16, 2021 in Manhattan Beach, California. Electric vehicle startup Fisker is facing new liquidity questions after a short seller report Thursday claimed the company's funds are "tied up." According to the report, much of Fisker's cash balance is tied up via bank guarantees on behalf of Magna International , the auto parts giant that began building Fisker's Ocean SUV under contract last month. "Fisker Inc. does not have a bank guarantee with Magna, and Fisker owns the intellectual property for the Fisker Ocean platform," Fisker said in a statement after the U.S. markets closed on Thursday. With a potential downturn looming, Fisker's cash hoard has provided some comfort to its investors.

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