Marina Pacifica Best Buy Closing Its Doors

The Business Journal today confirmed the Best Buy at Marina Pacifica will be permanently closing its doors on October 6. Best Buy’s corporate office did not respond to an inquiry regarding the reason for the closure. Beta Retail, which oversees leasing at the Southeast Long Beach retail center, was unavailable for comment regarding future plans for the space.


Coldwell Banker Coastal Alliance Acquires Main Street Realtors

Around 300 employees gathered at the Old Ranch Country Club to celebrate Coldwell Banker Coastal Alliance’s (CBCA) acquisition of Main Street Realtors. As of today, Main Street’s 125 sales associates fall under the Coldwell Banker banner, for a total of 345 sales associates. Sales associates will continue operating out of Main Street’s 244 Redondo Ave. office, and Managing Partner Geoff McIntosh will remain with the company as a broker-associate and consultant. “With our new size and scale, enhanced programs and marketing tools, we believe we will offer our clients, the Greater Long Beach community and our associates unparalleled service and support,” Phil Jones, managing Partner at CBCA stated in a press release.


Lawsuit Against SEASP Has Been Settled

The Los Cerritos Wetlands Land Trust announced today that its lawsuit against the Southeast Area Specific Plan (SEASP) has been settled. The trust filed its California Environmental Quality Act lawsuit on the grounds that the zoning plan allowed too much density, building height and traffic, as well as wanting “better and more science-based wetlands buffer protection,” the announcement stated. In working with the city, the trust said there is better clarity as to buffers, protections, and five-story building heights – down from seven stories. The group added that it will continue to advocate for additional wetlands buffers and protections as the matter is taken up by the California Coastal Commission.


American Medical Association Backs State Insurance Commissioner’s Opposition To CVS-Aetna Merger

The American Medical Association (AMA) issued a statement today supporting the decision by California Insurance Commissioner Dave Jones to oppose the proposed merger between CVS Health Corporation and Aetna. Last December, the board of directors of each company approved a definitive merger agreement under which CVS Health will acquire all outstanding shares of Aetna. On June 18, during a hearing held by the insurance commissioner, AMA President Barbara L. McAneny, M.D., said, “After very careful consideration over the past months, the AMA has come to the conclusion that this merger would likely substantially lessen competition in many health care markets, to the detriment of patients.”


In the statement today, Dr. McAneny said, “The AMA agrees with Commissioner Jones that allowing this anticompetitive merger to proceed likely would harm consumers. If left unblocked, there is every indication that the merger would raise prices, reduce choice and stifle innovation in five poorly performing markets: Medicare Part D stand-alone prescription drug plan, pharmacy benefit management services, health insurance, retail pharmacy, and specialty pharmacy. Commissioner Jones extensively cited evidence presented by the AMA and prominent experts in antitrust law, economics and health policy demonstrating that there are no potential benefits of sufficient magnitude and certainty that would outweigh the anticompetitive effects of the proposed merger.”