Stories for April 2002
Monday, April 29
Talk about a perk. Newport Beach-based Pacific Invest-ment Management Co. has invited workers and their significant others on a 12-day, company-paid Alaskan cruise.
Santa Ana-based PacifiCare Health Systems Inc. just was told it has to pay some $88 million to the federal government to settle a dispute over charges for benefit services.
by Paul Folino, president and CEO of Emulex Corp. and chairman designate of the OC Performing Arts Center.
The sale of 40 acres of former Yorba Linda oilfield land could be the last puzzle piece for a sprawling housing development in the city's northeastern section,if several area landowners can come up with a unified plan.
Commercenter Anaheim Filling Up; Wermers Rehabs Apartments in Capistrano
Classic Steakhouse Does What it Should
Frontier Medical Inc., a distributor of medical rehabilitation devices, is set to move from Pico Rivera to a Fullerton building left vacant by the implosion of Anaheim-based KPC Medical Management Inc.
Stomp Opens Headquarters After Fire; Rainbow Working With Entrust; 'Harry' on Buy.com
Aliso Viejo-based Enfrastructure Inc. is near a deal to expand to the East Coast as early as next month, company officials say. "I anticipate we'll be in the East Coast markets soon," Chief Executive James Watson said.
When state legislators moved to deregulate the workers' compensation insurance market almost a decade ago, they envisioned more competition that would drive down employer premiums. And for five years, that's what happened.
Columbia Hospital Treats First Patient With Edwards' Optimaze Ablation Method
Orange County exporters face an uncertain world out there. But trade watchers say that despite slumping economies in Latin America, Europe and Japan, OC exporters could see a subtle rebound this year and stronger growth in 2003.
Irvine-based homebuilder Standard Pacific Corp. plans to sell 3.5 million shares, including 2.5 million from the company and 1 million from two former directors.
In a white, nondescript plant in Shanghai, alongside similar ones owned by Intel Corp. and IBM Corp., some 50 people who used to work farmland with their hands now work with silicon to make memory modules.
THE LIST - Despite a sluggish economy, the 15 busiest restaurants in Orange County cooked up a 7% gain in meals served last year.
Orange County boardrooms are a little more diverse than they were 10 years ago, according to a study by executive search company Berkhemer Clayton Inc.
Monday, April 22
Huntington Beach-based Quiksilver Inc. said it opened two retail stores in suburban Chicago, its first stores in Illinois.
Venezuela's topsy-turvy politics is making for tough going for Orange County exporters.
Emulex Corp. has found a Costa Mesa bean field where it plans to build a four-building headquarters that stands to more than double the size of its current 90,000-square-foot campus.
After a devastating 2001, industry experts expect a stronger 2002 for Tijuana's manufacturing sector thanks to a rebound on this side of the border.
Irvine-based Ditrans Corp. is near closing $20 million to $25 million in follow-on funding to a $15 million round raised in November
Australia's Westfield Holdings Ltd. is buying MainPlace/Santa Ana as part of a larger sale of U.S. holdings by the Netherlands' Rodamco NV.
Irvine-based Westcorp said WFS Financial Inc., its auto finance company, has priced a $1.8 billion auto loan securitization, the company's largest deal to date.
It looks like Robert Gray, the 76-year-old chairman and chief executive of Irvine-based St. John Knits International Inc., may retire after all.
DGWB Lands HireRight Work; Printer Webtrend Makes Big Move to Santa Ana
Taisei Works Double Time on Santa Monica Hotel; Pardee Homes Buys Fullerton Lots
Construction has started on a new headquarters for Orange County entrepreneur and philanthropist Mark Chapin Johnson's Chapin Medical Co.
OC's second 50 largest public companies saw only a small revenue dip in a tough 2001, but losses at technology and other struggling businesses compounded the group's bottom-line bleeding.
FMR Corp., the owner of mutual fund manager Fidelity Investments, said it has upped its stake in Orange-based Sybron Dental Specialties Inc.
EMachines Starts Selling Online; Struggling Aspeon Sells Off Javelin System
Rancho Santa Margarita startup South County Bank hopes to raise $4.5 million through a stock and debt offering designed to bankroll more branches.
Construction has started on a sprawling, $100 million auto mall planned for Foothill Ranch. So far, four parcels at the planned Foothill Ranch Auto Centre have been sold for Chevrolet, Buick/Pontiac, Dodge and Plymouth/Jeep dealerships.
Even media savvy Bill Gross said he was taken aback at the flurry sparked by his comments about General Electric Co. last month.
The Orange County Human Relations Commission has received a $188,000 CommunitiesFirst grant from The California Endowment.
Health Care Property Does $73M in Deals; Wing Named Chief at Health Net
Santa Ana-based Ingram Micro Inc. made a small number of cuts to its Orange County workforce last month, and workers say they expect more layoffs even after last year's big downsizing.
Monday, April 15
COMMENTARY - Excerpted from a Los Angeles Business Journal column by David Carter
Wireless phone service companies are expanding their networks again in Orange County.
National Tour Sends Trucks to the Grand Prix; Xerox Taps BDS
Arthur Andersen LLP's Orange County office is losing contracts as companies weigh their yearly option to switch auditors. But its two biggest clients remain with the embattled firm,so far.
An Orange County-based unit of Tenet Healthcare Corp. plans to move to an office campus that's being developed near the Arrowhead Pond of Anaheim.
Irvine Sensors Debuts Camera; Telelogic Lands Telecom Deal
Roth Capital Partners LLC says it has found an oasis in the desert that investment banking has become these days.
Costa Mesa-based Toyota Racing Development has scored a parts supply deal with Roger Penske for engines to power his Indy cars.
California-Asian Dishes, Exotic Glamour Found at New Spectrum Restaurant
Cincinnati-based Federated Department Stores Inc. plans to spend nearly $100 million to expand two Orange County Macy's stores and open a new one in Westminster.
Quiet Newport Beach-based startup Newport Opticom Inc. plans to make several product announcements in June, according to a company official.
Office, Industrial Segments Poised for Increase in Activity
Even as federal regulators prepare to face off with MSC.Software Corp. over an earlier acquisition, they've signed off on the Santa Ana-based software maker's bid to buy Mechanical Dynamics Inc.
Apria Strikes Tentative Settlement of Shareholder Class Actions
Construction has started on Walnut Grove Medical Center, a medical office building on Anaheim Boulevard near Western Medical Center-Anaheim.
Technology companies that led growth in the past three years drove a big 2001 sales drop and a collective net loss at Orange County's 50 largest public companies, which otherwise didn't fare too badly in a tough economy.
Swimwear Maker Relies on Technology in Uncertain Times; Tustin-based Raj Manufacturing Inc., one of the nation's largest swimwear companies, thanks technology for helping it ride out an uncertain time this winter.
WorldCom Inc.'s Orange County workers are bracing for job cuts at the Clinton, Miss.-based telecommunications company.
A couple of months after Santa Ana-based SimpleTech Inc.'s buy of Irvine Networks LLC, Orange County's third-largest memory products maker is on track to ship prototypes from the acquisition to a potential customer earlier than expected.
Monday, April 8
The pending sale of Irvine-based Consolidated Reprographics to the owner of cross-town rival OCB Reprographics has created an industry brouhaha and caught the eye of federal regulators.
Two More Serrano Heights Tracts Open; Airport Area Sales Reported
SPECIAL REPORT: Mergers & Acquisitions
Experian Information Solutions Inc.'s move to its new headquarters near South Coast Plaza left a gaping hole,nearly 360,000 square feet of space,in four buildings near the Block of Orange.
Santa Ana-based Ingram Micro Inc. held on to its title as Orange County's highest-ranking Fortune 500 company, despite a big drop in revenue and a slip in its ranking.
It's not easy being a technology startup these days. But Orange County's class of 2001 has come a long way,and the companies say they're not done.
BioGentec Inc., a developer of a vitamin-based allergy treatment, has moved from Costa Mesa to a high-profile Irvine building alongside the San Diego Freeway (I-405) near John Wayne Airport.
Pakistan isn't a big market for Orange County. But local companies that tap the country for software development and textiles are reporting divergent experiences since Sept. 11 and Pakistan's subsequent internal turmoil.
Merrill Lynch & Co. is pulling out of Newport Center,the Wall Street of Orange County.
Allergan Pays in Development Pact; Dentists, Device Makers Convene in Anaheim
A plan is taking shape for apartments, office and retail space at Parker Hannifin Corp.'s former Irvine campus near John Wayne Airport.
Santa Ana-based Corinthian Colleges Inc.,which has bought 47 campuses since 1995,took the past year or so off. Now the for-profit college operator has started buying again.
REVIEW: CHEVAL - Equestrian show under a big top at the Orange County Fair & Exposition Center, Costa Mesa, through April 21. Thirty horses and 30 human performers.
Go2 Expands Wireless Directory; Ernst & Young Offers Executives a Lesson in Hacking
Surf City Goes 3-D With Ad Truck; Juxt Interactive Revamps Reef Online
Harbor Area Bistro Offers French Cuisine in Stylish Setting at Sensible Prices
Irvine-based Sicor Inc. and Watson Pharmaceuticals Inc. just over the county line in Corona have been stalwarts in the generic drug industry. But these days the two are taking different turns.
Medical device maker B. Braun McGaw Inc. is looking at selling nearly 20 acres of land around its Irvine campus for possible apartments or office space.
Santa Ana law firm Hart, King & Coldren plans to add five attorneys in the next month to its litigation and transactional practices.
Monday, April 1
Orange Coast officials have struck a deal with San Diego-based Kintera Inc. to offer an events calendar for nonprofits created by the Newport Beach magazine to publications across the county.
Santa Ana-based Corinthian Colleges Inc. has made a marked comeback on Wall Street. The company's shares have been on a steady climb since September and are nearly back to where they were before an Aug. 30 plunge that saw half of Corinthian's market value
Some of Orange County's dot-coms say they are making progress turning themselves around. But don't worry if you haven't heard about it.
Plus: Ruby's Waxes Nostalgic on 20th Anniversary; Thaifoon Hits Irvine Spectrum
Land Disposition Buys Lots to Build up North; NAIOP Brings in Bill Simon
And a recent report by federal regulators warns that California could suffer from tight energy markets in the next few years, as fewer power plants than expected come online and funding drops for conservation efforts.
Could rivals Broadcom Corp. and Conexant Systems Inc. end up calling each other partners? Company officials and industry observers don't rule out the prospect after last month's split off of Conexant's chip plant into a separate company.
Switzerland's ObTree Technologies Inc. has landed $10.8 million in funding, and its Aliso Viejo unit is slated to be a big recipient of the money, according to Mike Sanford, Obtree's North American vice president.
Short on Cash and Salable Equity, Company's Hopes Rest on Alzheimer's Drug
Irvine chip upstart Morpho Technologies Inc. plans to raise as much as $10 million in a second round of funding, according to Chief Executive Fhahriar Sadri.
Edison Capital says its nearing the end of its dark days. The Irvine-based investor in power plants and other projects is betting on a shift in fortunes with a fledgling rebound at parent Edison International, according to Phillip Dandridge, Edison Capita
NewMark Handling Two Revamped Centers; Gherkin Ruckus Raising Profile
Another New Executive at Access360; Newport Buys Flextronics Technology
Study Looks at How Much Hospital Revenue Certain Types of Doctors Generate