Billionaire David Murdock decided not to renew the lease on the top floor of Murdock Plaza in Westwood (Murdock developed the Wilshire Boulevard officer tower, but no longer owns the property). It's kind of a big deal for L.A. business folks, especially those working on the Westside. The Regency Club was a convenient and nicely appointed meeting spot, although it struggled over the years to generate much traffic in the evening. And event business has taken a hit since the recession. From the Business Journal:
Arlene Howard of Arlene Howard Public Relations said she and her husband paid roughly $10,000 to join the club seven years ago and gladly remained members - paying its $300 monthly fee - even if they didn't go there daily. "If you were trying to impress a prospective client you'd take them to the Regency, where you could see Eli Broad at one table and former Mayor Dick Riordan at another table and chat with them," she said.