Business
Major gift accelerates transformation of old mall into UCLA research hub
The reincarnation of a shuttered Los Angeles retail mecca as a sprawling UCLA research center has received a major boost from billionaire philanthropist Dr. Gary Michelson and his wife, Alya, who will give $120 million to ramp up the project.
Michelson, a spine surgeon and inventor, said the money will help launch the California Institute for Immunology and Immunotherapy, which aims to create breakthrough discoveries that prevent and cure diseases including cancer, heart disease and Alzheimer’s.
The institute will be a tenant in UCLA Research Park, which is under construction in the former Westside Pavilion. The indoor mall two miles south of the university at Pico and Westwood boulevards was a 1980s icon popular with shoppers and filmmakers before falling out of favor. Most of its stores closed by 2019.
The shopping center was being converted to offices when the UC Regents bought it for $700 million in January to create the research park. Along with the California Institute for Immunology and Immunotherapy, it will house the UCLA Center for Quantum Science and Engineering, as well as other science and medicine programs.
By purchasing the former shopping center, UCLA saved years of toil to build such a facility on its campus, which is the smallest of the nine UC undergraduate campuses and has very little room for growth.
A courtyard view of the UCLA research center now under construction in the former Westside Pavilion shopping center.
(Brian van der Brug / Los Angeles Times)
“That building would have gone on the last available piece of property on the UCLA campus,” Michelson said, “and it would have been extraordinarily expensive to build there. As a real estate matter, this was just an extraordinary opportunity.”
The immunology institute had been planned for years, while a full-scale research park was something “we’ve always dreamed of having … but we always recognized we could never find a piece of property that big close to campus. We had sort of given up on the idea many years ago — and it came alive,” said former UCLA Chancellor Gene Block, who was instrumental in the purchase of the former Westside Pavilion.
An earlier plan to build the institute on the campus called for tearing down a parking garage, digging a hole deep enough to replace the parking and erecting a new building on top, Block said.
The gift, through the Michelson Medical Research Foundation, designates $100 million to establish two research entities within the institute, each funded with $50 million; one will focus on rapid vaccine development and the other on harnessing the body’s microbiome to advance human health. The microbiome research will be conducted in collaboration with the new UCLA Goodman-Luskin Microbiome Center, placing it among the largest microbiome research enterprises in the world, the foundation said.
The foundation is also funding a $20-million endowment to provide research grants to young scientists using novel processes to advance immunotherapy research, human immunology and vaccine discovery.
The institute have labs of different sizes meant to serve biotech researchers who can start with small teams that can grow into larger labs if they find success.
“We’re going to create an entire ecosystem of biotech startups and they’re going to stay right here” and attract other players to the neighborhood, Michelson said. “We’re going to build out an entire ecosystem of biotech all through Westwood.”
He envisions 5,000 people, including 500 research scientists, working in the institute. Gov. Gavin Newsom estimated in January that it would take more than three years to fully transform the 700,000-square-foot complex, but Michelson hopes to have a large portion of the immunology institute operating in half that time, he said. At 360,000 square feet, the institute will be the research park’s primary tenant.
The former mall’s 12-screen multiplex movie theater may be converted into lecture halls or performance spaces offering programming across the arts, humanities, sciences and social sciences, the chancellor’s office said.
An interior view of the UCLA research center now under construction in the former Westside Pavilion shopping center.
(Brian van der Brug / Los Angeles Times)
The gift is the Michelsons’ largest single donation in 30 years of philanthropy that includes $50 million to build Michelson Hall at the University of Southern California, which is home to the Michelson Center for Convergent Bioscience. The Michelson name will not be attached to the new UCLA complex, he said, because other philanthropists — perhaps one who donates more than he did — may want the recognition.
“The gift will change countless lives here and across the globe,” UCLA interim Chancellor Darnell Hunt said.
The institute will operate as a nonprofit medical research organization funded by a public-private partnership and governed by an independent board that includes UCLA representatives, according to a UC Regents document. The institute will pay UCLA 7.5% of the net revenues generated by the sale of new medicines and other inventions its scientists create, the document said.
Los Angeles Mayor Karen Bass said the project “has the potential to fundamentally change health outcomes around the world and create good jobs in Los Angeles.”
The purchase of the former Westside Pavilion marked the third major acquisition for the public university system in Los Angeles in less than two years.
Seeking to expand its footprint, UCLA announced in June 2023 it had acquired the Art Deco-style Trust Building in downtown Los Angeles and renamed it UCLA Downtown.
Nine months prior, the school spent $80 million to buy two other major properties owned by Marymount California University, a small Catholic university that was shuttered last year. The purchase included Marymount’s 24.5-acre campus in Rancho Palos Verdes and an 11-acre residential site in nearby San Pedro.
Business
Nike to Cut 1,400 Jobs as Part of Its Turnaround Plan
Nike is cutting about 1,400 jobs in its operations division, mostly from its technology department, the company said Thursday.
In a note to employees, Venkatesh Alagirisamy, the chief operating officer of Nike, said that management was nearly done reorganizing the business for its turnaround plan, and that the goal was to operate with “more speed, simplicity and precision.”
“This is not a new direction,” Mr. Alagirisamy told employees. “It is the next phase of the work already underway.”
Nike, the world’s largest sportswear company, is trying to recover after missteps led to a prolonged sales slump, in which the brand leaned into lifestyle products and away from performance shoes and apparel. Elliott Hill, the chief executive, has worked to realign the company around sports and speed up product development to create more breakthrough innovations.
In March, Nike told investors that it expected sales to fall this year, with growth in North America offset by poor performance in Asia, where the brand is struggling to rejuvenate sales in China. Executives said at the time that more volatility brought on by the war in the Middle East and rising oil prices might continue to affect its business.
The reorganization has involved cuts across many parts of the organization, including at its headquarters in Beaverton, Ore. Nike slashed some corporate staff last year and eliminated nearly 800 jobs at distribution centers in January.
“You never want to have to go through any sort of layoffs, but to re-center the company, we’re doing some of that,” Mr. Hill said in an interview earlier this year.
Mr. Alagirisamy told employees that Nike was reshaping its technology team and centering employees at its headquarters and a tech center in Bengaluru, India. The layoffs will affect workers across North America, Europe and Asia.
The cuts will also affect staffing in Nike’s factories for Air, the company’s proprietary cushioning system. Employees who work on the supply chain for raw materials will also experience changes as staff is integrated into footwear and apparel teams.
Nike’s Converse brand, which has struggled for years to revive sales, will move some of its engineering resources closer to the factories they support, the company said.
Mr. Alagirisamy said the moves were necessary to optimize Nike’s supply chain, deploy technology faster and bolster relationships with suppliers.
Business
Senate committee kills bill mandating insurance coverage for wildfire safe homes
A bill that would have required insurers to offer coverage to homeowners who take steps to reduce wildfire risk on their property died in the Legislature.
The Senate Insurance Committee on Monday voted down the measure, SB 1076, one of the most ambitious bills spurred by the devastating January 2025 wildfires.
The vote came despite fire victims and others rallying at the state Capitol in support of the measure, authored by state Sen. Sasha Renée Pérez (D-Pasadena), whose district includes the Eaton fire zone.
The Insurance Coverage for Fire-Safe Homes Act originally would have required insurers to offer and renew coverage for any home that meets wildfire-safety standards adopted by the insurance commissioner starting Jan. 1, 2028.
It also threatened insurers with a five-year ban from the sale of home or auto insurance if they did not comply, though it allowed for exceptions.
However, faced with strong opposition from the insurance industry, Pérez had agreed to amend the bill so it would have established community-wide pilot projects across the state to better understand the most effective way to limit property and insurance losses from wildfires.
Insurers would have had to offer four years of coverage to homeowners in successful pilot projects.
Denni Ritter, a vice president of the American Property Casualty Insurance Assn., told the committee that her trade group opposed the bill.
“While we appreciate the intent behind those conversations, those concepts do not remove our opposition, because they retain the same core flaw — substituting underwriting judgment and solvency safeguards with a statutory mandate to accept risk,” she said.
In voting against the bill Sen. Laura Richardson, (D-San Pedro), said: “Last I heard, in the United States, we don’t require any company to do anything. That’s the difference between capitalism and communism, frankly.”
The remarks against the measure prompted committee Chair Sen. Steve Padilla, (D-Chula Vista), to chastise committee members in opposition.
“I’m a little perturbed, and I’m a little disappointed, because you have someone who is trying to work with industry, who is trying to get facts and data,” he said.
Monday’s vote was the fourth time a bill that would have required insurers to offer coverage to so-called “fire hardened” homes failed in the Legislature since 2020, according to an analysis by insurance committee staff.
Fire hardening includes measures such as cutting back brush, installing fire resistant roofs and closing eaves to resist fire embers.
Pérez’s legislation was thought to have a better chance of passage because it followed the most catastrophic wildfires in U.S. history, which damaged or destroyed more than 18,000 structures and killed 31 people.
The bill was co-sponsored by the Los Angeles advocacy group Consumer Watchdog and Every Fire Survivor’s Network, a community group founded in Altadena after the fires formerly called the Eaton Fire Survivors Network.
But it also had broad support from groups such as the California Apartment Association, the California Nurses Association and California Environmental Voters.
Leading up to the fires, many insurers, citing heightened fire risk, had dropped policyholders in fire-prone neighorhoods. That forced them onto the California FAIR Plan, the state’s insurer of last resort, which offers limited but costly policies.
A Times analysis found that that in the Palisades and Eaton fire zones, the FAIR Plan’s rolls from 2020 to 2024 nearly doubled from 14,272 to 28,440. Mandating coverage has been seen as a way of reducing FAIR Plan enrollment.
“I’m disappointed this bill died in committee. Fire survivors deserved better,” Pérez said in a statement .
Also failing Monday in the committee was SB 982, a bill authored by Sen. Scott Wiener, (D-San Francisco). It would have authorized California’s attorney general to sue fossil fuel companies to recover losses from climate-induced disasters. It was opposed by the oil and gas industry.
Passing the committee were two other Pérez bills. SB 877 requires insurers to provide more transparency in the claims process. SB 878 imposes a penalty on insurers who don’t make claims payments on time.
Another bill, SB 1301, authored by insurance commissioner candidate Sen. Ben Allen, (D-Pacific Palisades), also passed. It protects policyholders from unexplained and abrupt policy non-renewals.
Business
How We Cover the White House Correspondents’ Dinner
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Politicians in Washington and the reporters who cover them have an often adversarial relationship.
But on the last Saturday in April, they gather for an irreverent celebration of press freedom and the First Amendment at the Washington Hilton Hotel: The White House Correspondents’ Association dinner.
Hosted by the association, an organization that helps ensure access for media outlets covering the presidency, the dinner attracts Hollywood stars; politicians from both parties; and representatives of more than 100 networks, newspapers, magazines and wire services.
While The Times will have two reporters in the ballroom covering the event, the company no longer buys seats at the party, said Richard W. Stevenson, the Washington bureau chief. The decision goes back almost two decades; the last dinner The Times attended as an organization was in 2007.
“We made a judgment back then that the event had become too celebrity-focused and was undercutting our need to demonstrate to readers that we always seek to maintain a proper distance from the people we cover, many of whom attend as guests,” he said.
It’s a decision, he added, that “we have stuck by through both Republican and Democratic administrations, although we support the work of the White House Correspondents’ Association.”
Susan Wessling, The Times’s Standards editor, said the policy is a product of the organization’s desire to maintain editorial independence.
“We don’t want to leave readers with any questions about our independence and credibility by seeming to be overly friendly with people whose words and actions we need to report on,” she said.
The celebrity mentalist Oz Pearlman is headlining the evening, in lieu of the usual comedy set by the likes of Stephen Colbert and Hasan Minhaj, but all eyes will be on President Trump, who will make his first appearance at the dinner as president.
Mr. Trump has boycotted the event since 2011, when he was the butt of punchlines delivered by President Barack Obama and the talk show host Seth Meyers mocking his hair, his reality TV show and his preoccupation with the “birther” movement.
Last month, though, Mr. Trump, who has a contentious relationship with the media, announced his intention to attend this year’s dinner, where he will speak to a room full of the same reporters he often derides as “enemies of the people.”
Times reporters will be there to document the highs, the lows and the reactions in the room. A reporter for the Styles desk has also been assigned to cover the robust roster of after-parties around Washington.
Some off-duty reporters from The Times will also be present at this late-night circuit, though everyone remains cognizant of their roles, said Patrick Healy, The Times’s assistant managing editor for Standards and Trust.
“If they’re reporting, there’s a notebook or recorder out as usual,” he said. “If they’re not, they’re pros who know they’re always identifiable as Times journalists.”
For most of The Times’s reporters and editors, though, the evening will be experienced from home.
“The rest of us will be able to follow the coverage,” Mr. Stevenson said, “without having to don our tuxes or gowns.”
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