Stories for February 2003
Monday, February 24
The technology meltdown and an ongoing demographic shift dented Orange County's wealth last year. OC's per capita income last year declined to $36,427 from $36,666 in 2001
CB Richard Ellis Services Inc.'s pending $415 million buy of Insignia Financial Group Inc. is set to have a big impact on Orange County.
Irvine-based Avamar Technologies Inc. says its about to close on a new round of venture capital funding.
What makes a legislator pro-business? Sometimes it depends on who or what you ask. Most surveys done by business groups score Republican lawmakers higher than Democrats. That wasn't necessarily the case, however, on the Orange County Business Council's "2
Monday, February 17
AD PathLabs Corp., a Newport Beach-based tissue testing company, raised $8.9 million in venture funding.
Corona is on the verge of encircling more office and industrial projects as well as big home improvement retailers, thanks to projects planned by two Orange County developers.
Tyco International Ltd. plans to close its Irvine medical device plant, lay off about 100 workers and shift work to other North American plants, a spokeswoman said.
Monday, February 10
Summaries of other business news and top stories by industry; Plus: Interpore Cross Boosts U.S., Overseas Team
The state Attorney General and the California Bar Association are investigating the Beverly Hills firm for lawsuits it's filed against hundreds of auto repair shops, restaurants and auto dealers.
Office Weak, Industrial Lively; 2002 was economically challenging for the nation.
Aliso Viejo's IndX Software Corp. just got a big backer: Siemens AG. Siemens Venture Capital, the investment arm of the German technology company, led a $7.5 million investment in IndX late last month.
Monday, February 3
Demand for Low-Rise Space Rebounds; In the past few years, the supply of low-rise office space in Orange County has changed from limited to abundant.
Irvine startup OpVista Inc. has a new chief executive with a few words of advice: Focus on cable customers instead of telecommunications right now.
In early December, the U.S. Postal Service cut its afternoon pickup for businesses in the city, leaving buildings and companies stuck with piles of mail.
Britain's HSBC Holdings PLC has moved its Orange County operation from Irvine to a larger Newport Beach office after acquiring an Arthur Andersen LLP unit last year.
Fox Racing Inc. has opened an office in Irvine to be closer to Orange County's action sports crowd.
Steven Bren, son of The Irvine Company's Donald Bren, is making his first move into commercial real estate with plans to build and sell 24 small industrial buildings in the Irvine Spectrum with Santa Ana's Nexus Development Corp.
Freedom Communications Inc., the embattled holding company of the Orange County Register, has set higher profit goals for 2003 after turning in a "middle of the pack" performance in 2002.