Stories for November 2005
Wednesday, November 30
Irvine-based Edwards Lifesciences Corp. expects revenue next year to rise 8% to 10%, the heart valve maker said during a meeting with analysts Wednesday.
Economic growth was much stronger last quarter than first thought as spending rose more than estimated, while divergent inflation signals in government and private-sector data on Wednesday left economists puzzled over price pressures.
Newport Beach-based Collectors Universe Inc. said Wednesday it plans to buy Canada's Gemprint Corp. for $7.5 million.
BlackBerry maker Research In Motion Ltd. was dealt another legal setback in a key patent infringement case on Wednesday, raising pressure to settle or face a possible shutdown of its U.S. mobile e-mail service.
U.S. economic growth was much stronger in the third quarter than first thought as consumers and businesses spent more than estimated, but Gulf Coast hurricanes sideswiped corporate profits, a government report showed on Wednesday.
Ford Motor Co. is mulling the sale of its historic Browns Lane plant near Coventry, central England, that was the home of its iconic Jaguar brand since 1928, Jaguar said on Wednesday.
Mortgage applications fell for a third straight week, dragged down by a decline in home refinancings to a 16-month low even as interest rates dipped, an industry trade group figures showed on Wednesday.
Shares of Tustin-based Quality Systems Inc. slumped 8% Wednesday after a Piper Jaffray analyst downgraded its shares.
Foothill Ranch-based Wet Seal Inc. said Wednesday that a shareholder lawsuit against the teen apparel maker and some of its former directors has been refiled.
Tuesday, November 29
Edwards Lifesciences Corp. unveiled a new option in its heart valve franchise on Tuesday.
Teen clothing retailer Wet Seal Inc. said Tuesday its loss narrowed in the third quarter on a jump in sales.
The Laguna Playhouse said Tuesday it received its largest gift ever, a $5 million pledge from James "Jim" Mellor and his wife, Suzanne, that will help the theater fund its expansion.
Saigon National Bank plans to open its doors in the heart of Little Saigon on Wednesday, the bank's top official said.
Dissident Time Warner Inc. shareholders led by billionaire investor Carl Icahn stepped up their campaign against the media conglomerate on Tuesday, saying they will launch a proxy contest to replace "a majority" of its board.
Foothill Ranch-based Kaiser Aluminum Corp. has cleared a big hurdle in its bid to emerge from Chapter 11 bankruptcy.
Sales of new homes shot up unexpectedly in October, climbing 13% to hit a record pace, according to a government report on Tuesday at odds with other signs of a slowdown in the long-hot housing market.
Power merchant Calpine Corp. said Tuesday that its longtime chief executive and its chief financial officer have both relinquished their jobs, the latest distress signal at a company struggling to stay afloat.
Wachovia Corp., the nation's fourth largest bank, said Tuesday it is selling its corporate trust, institutional and document custody and structured finance trust service units to U.S. Bancorp for $720 million in cash.
Consumer confidence picked up in November as Americans took comfort from falling gasoline prices and better job prospects, according to a report published on Tuesday.
Monday, November 28
New York-based private equity firm Lightyear Capital LLC and several partners said on Monday they completed their acquisition of Seal Beach-based Baker Tanks Inc. from Chicago-based Code Hennessy & Simmons.
Newport Beach-based healthcare software company TriZetto Group Inc. said last week it plans to buy Boston's CareKey Inc. for $60 million, plus $40 million or more if the company hits financial goals.
French cooking thrives at Pinot Provence, in the Executive Dining column
ABOUT THE LIST - The county's biggest employers recorded a second straight year of employment growth
Koll is moving ahead on its residential development plans in Cabo San Lucas
The Tech Coast Angels investor group is on track to post its biggest year since 2000. The venture network's investment in Southern California companies rose 65% to $10.7 million through October, compared to a year earlier.
The owner of the Erica Dee boutique is scouting for other locations, in the Marketplace column
Sales of existing homes slowed in October to a 7.09 million unit pace, but the median price rose 16.6% from a year earlier, the largest jump since July 1979, a trade group said on Monday.
Toll-Road Backer Miffed by Clint; Irvine Co. Recruits
Valeant shares have been falling as investors await results from key drug trials
A couple of lawmaker ratings show a wider gulf among democrats than republicans in California, in Letters
Orange County automakers say they have no plans to follow Nissan out of California
Electronics retailers and Wal-Mart Stores Inc. were the early winners while some apparel chains faltered as the holiday shopping season started with a mixed Thanksgiving weekend, analysts said on Monday.
American Pharmaceutical Partners Inc. said Monday it is buying its largest shareholder, privately held American BioScience Inc., for stock worth about $4.1 billion, creating a biopharmaceutical company with annual revenue of more than $500 million.
Allergan's bid for Inamed hinged on a regulatory filing, in the Healthcare column
The owners of the Don Jos & #233; restaurant chain won the large business award
On Tap: More Office Rent Increases. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Surf apparel company Gotcha International LP, which was founded in 1978 and later filed for bankruptcy, is being sold to Miami-based Perry Ellis International Inc.
Costa Mesa-based Valeant Pharmaceuticals International said Monday it plans to buy the U.S. and Canadian rights to Infergen, a hepatitis C drug, from Brisbane-based InterMune Inc.
The Tech Coast Angels are on track for their biggest year since 2000
The Texas Pacific Group plans to sell an $18 million stake in Conexant, which is on a roll on Wall Street, in the Technology column
OC's public pension fund could hire a new investment manager
A big free trade pact in the Americas has hit some snags over farm subsidies
Pacific Sunwear's urban d.e.m.o. chain is promoting a "ring in the bling" contest, in the Media & Marketing column
FAMILY OWNED BUSINESS: O'Connor Mortuary won the longevity award
"Many Happy Returns" debuts in the U.S. at the Laguna Playhouse, an Executive Briefcase review.
Orange County foreclosures fell 27% to 188 homes in October, versus a month earlier, Irvine-based RealtyTrac Inc. said Monday. Foreclosures had jumped 22% in September.
The median price of an Orange County home sold in October fell 1% to $701,520, compared to a month earlier, but was 12.8% higher than a year ago, the California Association of Realtors said on Monday.
Ellison's die-cutting business won the medium business award
Brisk activity at a couple of small-buildings-for-sale projects shows the sector's momentum continues, in the Real Estate column
Herrington Teddy Bear won the small company award
Friday, November 25
Israel's Teva Pharmaceutical Industries Ltd. won permission from the European Commission on Friday to buy U.S. rival Ivax Corp. for $7.4 billion to make Teva the world's top generic drugmaker.
Taser International Inc. on Friday said Nasdaq intends to delist its stock because of a delay in filing its quarterly report, sending its shares down 10%.
Newport Beach's Koll Co. plans to develop 233 homes at the tip of the Baja peninsula, ending a five-year hiatus from building in Mexico.
Carolers were singing sweetly. But they barely could be heard over the din at South Coast Plaza on Friday as shoppers swarmed to kick off the busiest shopping day of the year.
Irvine's Crown Realty & Development Corp. is rethinking plans to build a 180,000-square-foot office building in Santa Ana amid higher prices for steel, concrete and lumber.
Wednesday, November 23
Luxembourg-based steel giant Arcelor SA made a $3.75 billion hostile takeover offer for Canadian steelmaker Dofasco Inc. on Wednesday, its first foray into North America and a shift from its previous strategy of making acquisitions in developing markets.
Peregrine Pharmaceuticals Inc. said Wednesday that it is selling $6.7 million in shares to an unnamed investor to help fund drug development.
Family businesses spanning generations were honored last week at the annual Family Owned Business awards luncheon put on by the Business Journal and California State University, Fullerton's Family Business Council.
The number of workers filing new claims for jobless benefits grew by a larger-than-expected 30,000 last week, government data showed on Wednesday, taking claims to their highest point since mid-October.
Gold mining company Placer Dome Inc. on Wednesday said its board is recommending shareholders reject a $9.2 billion takeover bid by Barrick Gold Corp., calling the offer "inadequate" and "opportunistic."
Cable television set-top box maker Scientific-Atlanta Inc. on Wednesday said it has been named in two class-action lawsuits over its deal to be bought by Cisco Systems Inc. for $6.9 billion.
Raptor Networks Technology Inc. landed $7.7 million in funding in a stock sale led by Brookstreet Securities Corp. of Irvine, the company said Wednesday.
Mortgage applications fell last week, dragged down by a slump in home refinancings which hit a 16-month low as interest rates remained close to their highest levels this year, industry trade group figures showed on Wednesday.
The final November reading on the University of Michigan's consumer sentiment index is expected to show that consumers' mood improved from October levels, economists said.
Tuesday, November 22
Computer products distributor Tech Data Corp. said quarterly profit fell, hurt by restructuring charges in Europe.
Irvine's Standard Pacific Corp. and four partners bought 2,675 acres in Las Vegas, the homebuilder said Tuesday.
Shares of Samsung Electronics Co., Toshiba Corp. and other chip makers fell after a deal between two U.S. rivals to produce chips for digital cameras and music players triggered worries of a supply glut.
It's official. The maker of Florida's Natural orange juice is closing its Fullerton plant after putting workers there on notice last month about the prospect of a shutdown.
Lake Forest-based Cooper Cos. took another hammering on Wall Street on Tuesday after the company lowered its profit and sales expectations for the most recent quarter.
The battle for Inamed Corp. heated up Tuesday after Medicis Pharmaceutical Corp. asked Inamed's board to reject a bigger buyout offer from Irvine-based Allergan Inc.
Monday, November 21
Irvine's Jaguar Cars has a new ad campaign, in the Media & Marketing column
Pfizer Inc. is set to pay Incyte Corp. as much as $803 million for the development, manufacture and marketing rights of drugs to treat chronic inflammatory conditions, the companies said on Monday.
Surf apparel company Gotcha International LP, which was founded in 1978 and later filed for bankruptcy, said Monday it is being sold to Miami-based Perry Ellis International Inc.
Breast implant maker Mentor Corp. remained bullish on Monday about a potential linkup with wrinkle treatment maker Medicis Pharmaceutical Corp., which is facing off with Irvine-based Allergan Inc. to buy Inamed Corp.
Hotel Sales Brisk in California, Slower in OC; Local Prices Solid
Shopping centers are courting small boutiques with varied results
Wal-Mart keeps pushing its bid to start a bank
Irvine, Chapman VIPs Join China Caravan; Julie Meets Queen Liz
It looks like circuit board prices are stablizing, in the Technology column
Increasing demand for office space continued during the third quarter as overall net absorption remained well above 1.5 million square feet.
Shares of Lake Forest-based Cooper Cos. fell 10.7% Monday on news that it bought two surgical device companies that will be a drag on earnings for the next couple of years.
Dr. Andrew Agwunobi wants to be the "CEO's COO" at St. Joseph Health System
Orange County's retail market posted more strong results in the third quarter.
Toyota is starting to flex its financial muscle in California
The maker of Florida's Natural orange juice is closing its Fullerton plant
Landlords Boost Office Rents as Vacancy Rates Post Steep Drop
Higher prices for steel and other materials have slowed a high-rise office development in Santa Ana
Santa Ana-based Corinthian Colleges Inc. said that one of its schools in Florida has received a subpoena from the state attorney general over its advertising and marketing policies, according to a filing with the Securities and Exchange Commission Monday.
Biggest office construction under way in the third quarter
Biggest industrial building sales in the third quarter
Orange County's industrial real estate market had a positive third quarter after a slow second quarter
Venture-backed software maker Medsphere Systems has a new chief executive, in the Healthcare column
Newport Beach-based healthcare software company TriZetto Group Inc. said Monday it is buying Boston's CareKey Inc. for $60 million, plus $40 million or more if the company hits financial goals.
Advanced Medical Optics has pulled the trigger on a restructuring plan
Brokers expect Orange County's 7% office vacancy rate to fall further in coming months.
Biggest industrial construction under way in the third quarter
Strong activity during the third quarter once again lifted the market, resulting in absorption gains practically across the board.
Out-of-state recruiters see a silver lining to voters' rejection of the governor's reform initiatives
Low-rise office buildings continue to trade hands at lofty levels. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Holland's G-Star Raw is planning a Fashion Island store, in the Marketplace column
Some office complexes in the Platinum Triangle recently sold,only not with plans to build homes, in the Real Estate column
A contract electronics maker is consolidating operations in Anaheim
The market posted slower absorption in the third quarter but the net results still suggest a healthier leasing position for landlords.
Sonoma's Trinitas Cellars has a legal connection in OC, in the Executive Dining column
Friday, November 18
Cisco Systems Inc. on Friday said it would buy Scientific-Atlanta Inc., a leading U.S. maker of cable television set-top boxes, for $6.9 billion in a deal that would move the networking equipment giant more deeply into the consumer market.
General Electric Co. on Friday forecast sharper earnings growth for 2006, boosted its dividend and stock buyback plan and agreed to sell most of its reinsurance business to Swiss Re for up to $7.6 billion.
Cypress-based Yamaha Motor Corp. USA has settled a motorcycle spat with San Clemente's Patriot Motorcycles Co.
Aliso Viejo-based Internet retailer Buy.com Inc. is looking to raise up to $55 million in an initial public offering, the company said in a regulatory filing Friday.
Orange County's unemployment rate was 3.8% in October, up from a revised 3.7% in September but down from 4% a year ago, the Employment Development Department said Friday.
Oil sank below $56 on Friday for the first time since the end of June as investors grew confident that hefty fuel stockpiles would see the world's consumers through cold winter weather.
Thursday, November 17
No. 2 computer maker Hewlett-Packard Co. on Thursday posted a lower quarterly net profit, due in part to charges related to ongoing jobs cuts.
Rising interest rates took their toll on Orange-based ACC Capital Holdings on Thursday, with the parent of the the nation's largest subprime lender saying it plans to cut 10% of its workforce, or roughly 1,500 employees.
Irvine-based Microsemi Corp. saw higher profits that beat estimates for the quarter ended Oct. 2, the chipmaker said Thursday.
Shareholders of Cypress-based PacifiCare Health Systems Inc. gave near-unanimous approval to UnitedHealth Group Inc.'s $8.1 billion buyout offer on Thursday.
Irvine-based Broadcom Corp. contributed to a $10 million round of funding for venture-backed Broadlight Inc., the company said Thursday.
The number of workers filing for initial jobless aid fell sharply last week, a government report showed on Thursday, pushing the claims total to its lowest point since April.
Housing starts fell 5.6% in October as construction of both single-family and multifamily homes slid, while a drop in permits for future groundbreaking was the largest in more than six years, the government said on Thursday.
Tenet Healthcare Corp.'s shareholder committee on Thursday said it believes the future of the hospital operator "remains bleak" and called for a complete investigation into the deaths that occurred in Tenet's New Orleans hospitals after Hurricane Katrina.
Walt Disney Co. on Thursday reported a lower quarterly profit, weighed down by poor performance at its movie studio.
Wednesday, November 16
The Senate Banking Committee on Wednesday approved the nomination of Ben Bernanke to be the next chairman of the Federal Reserve, sending it to the full Senate for a final confirming vote.
U.S. consumer prices rose 0.2% in October despite a dip in energy prices as the cost of housing notched the largest gain in nearly five years, government data showed on Wednesday.
Diversified manufacturer Tyco International Ltd. on Wednesday said quarterly net profit doubled, but its revenue and current-quarter outlook missed Wall Street estimates.
Oracle Corp. said on Wednesday it acquired two privately held companies for an undisclosed sum that it said will bolster its offerings in the fast-growing security software market.
Draper's & Damon's Inc., an Irvine-based seller of dresses for baby boomer women, is being acquired by San Francisco private equity firm Golden Gate Capital LP for undisclosed terms.
D.R. Horton Inc., the No. 1 U.S. homebuilder, on Wednesday posted a better-than-expected quarterly profit and raised its outlook for the current year on strong demand nationwide.
Cigna Corp. is looking to sell half of its stake in an office complex where another high-rise is planned, according to real estate sources.
Santa Barbara-based Inamed Corp. is reviewing rival bids for the maker of breast implants and skin products after Allergan Inc. weighed in with a higher $3.2 billion offer on Tuesday.
The world will need OPEC's oil even more this winter and next year as high oil prices have failed to slow galloping economic growth, the producer group said on Wednesday.
Ralph Cygan, chief executive of UCI Medical Center, was placed on temporary administrative leave Wednesday afternoon, nearly a week after the Orange hospital's liver transplant program was shuttered.
It's official. Germany's Deutsche Bahn AG is buying Irvine-based BAX Global Inc. for $1.1 billion after months of speculation and a week of reports about a pending deal.
Tuesday, November 15
U.S. producer prices rose unexpectedly in October as rocketing home heating costs outflanked cheaper gasoline, while retail sales fell on lower auto sales but by less than analysts had expected.
Retail sales performed far better than expected in October as consumers took encouragement from falling gasoline prices.
The median price of a home sold in Orange County hit $606,000 in October, up 14% from a year earlier and just off September's $610,000 mark. But sales slowed from September's pace.
JPMorgan Chase & Co. Chief Executive William Harrison said the No. 3 U.S. bank wants to have an international retail presence within the next three to five years with a focus on emerging-market countries.
Ben Bernanke, nominated to be Federal Reserve chairman, on Tuesday vowed to fight for U.S. price stability, and said while a stated inflation goal could improve monetary policy, he would not rush such a step.
The federal agency that insures the private pensions of 44 million workers said Tuesday that its deficit was $22.8 billion in 2005, as big airlines in bankruptcy dumped their pension liabilities.
Johnson & Johnson will pay 15% less for medical-device maker Guidant Corp. than previously agreed, rescuing a deal that nearly collapsed following safety concerns and litigation over Guidant's products.
Monday, November 14
ABOUT THE LIST - Another Year of Asset Gains, Profit Dips for Credit Unions
PacifiCare shareholders are set to vote on UnitedHealth's buyout offer
Bacchus Development continues to do small buildings for sale in the Irvine Spectrum, in the Real Estate column
High-rise office vacancy in OC continued to tighten in the third quarter. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
The board of German rail operator Deutsche Bahn AG approved the planned buy of Irvine-based BAX Global Inc. over the weekend, according to Reuters.
Sybron Dental Specialties Inc. of Newport Beach raised its earnings outlook for the September quarter but said it needs more time to finalize results.
A mixed-up world: Gateway is gaining while Dell is slumping, in the Technology column
After the election,where the business agenda goes from here
El Pollo Loco is pushing its latest menu addition: chicken tortilla soup, in the Media & Marketing column
Local real estate pioneer Don Koll is recovering from a stroke
Ev3 Inc. upped its offer Monday for the part of Irvine-based Micro Therapeutics Inc. that it doesn't already own.
The pace of holiday party bookings has hotels in a good mood
Two of the largest employers in OC have opted to make no change in their retirees' drug plans, in the Healthcare column
Armor maker Ceradyne's $200 million line of credit could be used for growth
Hines is looking to buy as much as $1 billion of OC real estate during the next few years
Newspaper publisher Knight Ridder said on Monday that it would explore a possible sale of the company, bowing to demands from two large investors that are unhappy with the depressed stock price.
The election results show it's business as usual in California, an Editorial by Rick Reiff
Quest Software could face competition from Oracle and Microsoft down the road
Javier's Cantina has opened at the Irvine Spectrum, in the Executive Dining column
Host Marriott Corp. said on Monday it had agreed to pay about $4 billion to acquire a portfolio of 38 luxury and upscale hotels from Starwood Hotels and Resorts Worldwide Inc.
The Register's circulation dip was softened by a gain in Saturday sales
Cigna is looking to sell some of its stake in its Irvine Center Towers complex, where another tower is planned
Irvine-based MTI Technology Corp. saw sluggish sales and wider losses during the quarter ending Oct. 1, the company said Monday.
Paper producer Georgia-Pacific Corp. agreed on Sunday to be bought by conglomerate Koch Industries, Inc. for $13.2 billion in a deal that will make it a privately held Koch subsidiary.
Friday, November 11
Hines Interests LP, which owns one parcel of land in Orange County worth about $12 million, has set a high goal for itself,to own $1 billion worth of buildings in the county within three years.
Unionized workers at General Motors Corp., the largest auto maker, have ratified a landmark deal to help the automaker cut its massive healthcare costs, the United Auto Workers union said on Friday.
A leading gauge of the economy rose in the latest week due to stronger housing activity and higher stock prices, a report said on Friday.
Chipmaker Intel Corp. on Thursday said it will buy back as much as $25 billion in stock and boost its quarterly dividend 25 percent to 10 cents a share.
DaimlerChrysler AG cut its losses on an investment in Japan's Mitsubishi Motors Corp., which has its U.S. base in Cypress.
Shareholders of PacifiCare Health Systems Inc. are expected to approve UnitedHealth Group Inc.'s $8.1 billion buy of the Cypress-based health plan operator next week.
Serena Software Inc. said on Friday it had agreed to be acquired by private equity firm Silver Lake Partners in a deal valued at about $1.2 billion.
Thursday, November 10
Record oil prices in the aftermath of Hurricane Katrina and a drop in overall exports helped push the U.S. trade deficit to a record $66.1 billion in September, shattering the previous high of $60.4 billion set in February, the government said on Thursday
Teen retailer Pacific Sunwear of California Inc. reported strong third-quarter results Thursday and reaffirmed fourth-quarter expectations, but added it "must be cautious about the overall retail environment."
Shares of General Motors Corp. fell more than 6% on Thursday, spiraling to a 23-year low after Banc of America Securities warned of an increased risk of bankruptcy at the financially struggling auto giant, Reuters reported.
California Insurance Commissioner John Garamendi recommended on Thursday an additional 15.3% cut in workers' compensation insurance rates paid by businesses to cover employees injured at work.
Ford Motor Co.'s new cars and crossover sport utility vehicles will help it eke out a slight gain in U.S. market share next year, a top executive said on Thursday.
Target Corp. said on Thursday that quarterly profit rose a better-than-expected 34% on strong sales and big gains in its credit card business, but gave a disappointing forecast for the critical holiday season.
Dell Inc., the biggest personal computer maker, on Thursday said quarterly profit fell amid costs to cut jobs and repair faulty parts in business computers.
The owner of surfwear maker Gotcha International LP is looking to take an Internet-based video game and software developer public.
Bosa Development Corp. said Thursday it has paid $40 million for more land at Park Place in Irvine, with an eye to building additional condominium high-rise towers.
U.S. consumers' mood brightened even more than expected in early November as gasoline prices receded from record highs and the impact of late-summer hurricanes faded, a report showed on Thursday, according to a Reuters report.
Irvine-based subprime lender ECC Capital Corp. on Thursday reported third-quarter income of $24 million, fueled by a gain in the value of its derivative investments.
Wednesday, November 9
Amtrak's board of directors on Wednesday fired President David Gunn, saying the debt-laden rail carrier needs "a leader with vision and experience."
Newport Beach-based William Lyon Homes Inc. reported lower third-quarter sales and profits on Wednesday.
Voters shot down all eight propositions on Tuesday's special election ballot, striking a blow to Gov. Arnold Schwarzenegger's bid to sidestep the Legislature by appealing to the people.
Hotel chain La Quinta Properties Inc. on Wednesday said it agreed to be acquired by private equity firm Blackstone group for $3.4 billion in cash and debt, sending its shares up.
Mortgage applications increased last week, driven by a brisk rise in demand for loans to purchase homes even as interest rates rose to 16-month highs, an industry group's figures showed on Wednesday.
Bank of America Corp. and JPMorgan Chase & Co., two of the largest U.S. credit card issuers, on Wednesday said they expect to face hundreds of millions of dollars of bad loans in the fourth quarter because of October's surge in bankruptcy filings.
Serono has held talks with four leading drugmakers about a potential $15 billion takeover in recent weeks, the Wall Street Journal said on Wednesday, citing people familiar with the matter.
Irvine-based Broadcom Corp. raised its sales expectations on Wednesday, sending its shares up more than 7%.
Computer and telecommunications network equipment maker Cisco Systems Inc. on Wednesday posted a slightly lower quarterly profit due to the cost of expensing stock options.
Designer, Paul Frank, the offbeat mastermind whose cartoon characters are a hallmark of clothing maker Paul Frank Industries Inc., has left the company he started with a sewing machine 10 years ago.
Top executives of big oil companies on Wednesday defended surging profits at a time of high prices, and warned a Senate hearing that a windfall profit tax could stymie investment and lead prices still higher.
Tuesday, November 8
Newport Beach-based Impac Mortgage Holdings Inc. reported a 39% drop in income available to shareholders to $30 million in the third quarter, versus a year earlier.
An estimated 6.8 million Californians are expected to go to the polls today despite early concerns, and Republican hopes, that the all-initiative special election would be largely ignored by voters.
Linens 'n Things Inc. on Tuesday agreed to be acquired by a private equity firm and its partners in a $1.3 billion deal that will take retailer private.
Toll Brothers Inc. on Tuesday cut its outlook for 2006, saying tougher land-use reviews will mean a lower supply of houses and softening demand in some markets will slow its ability to raise prices, sending its shares tumbling.
UnitedHealth Group Inc. on Tuesday said it forecasts a higher 2006 profit.
The U.S. and China reached a three-year agreement on Tuesday to rein in China's booming clothing and textile shipments to the United States, solving an issue that had threatened to cool ties.
Santa Ana-based First American Corp. and an affiliate, First Advantage Corp. in St. Petersburg, Fla., said they bought a stake in LeadClick Media Inc. for $150 million.
Monday, November 7
The early returns on Ingram Micro's buy of Tech Data are better than expected
There's more on the Boom Boom Room in Laguna Beach
A former Sunkist processing plant in Corona is set to give way to offices and industrial space designed for OC businesses looking to move
BAX Global Inc., an Irvine-based unit of Brink's Co., is selling to German rail operator Deutsche Bahn AG for up to $1.2 billion, according to reports.
Aliso Viejo-based Quest Software Inc. saw gains in revenue and adjusted earnings in the third quarter but the software maker's guidance for the current quarter fell short of estimates.
Guidant Corp. on Monday said it was suing Johnson & Johnson to force the completion of J & J;'s acquisition of Guidant.
An Irvine mortgage loan processor has tapped into an increasingly common source to help clients cut costs: India
Some analysts want FileNet to give back part of its cash hoard, in the Technology column
Comercia Inc. said Monday it won a court order preventing 24 former employees who were hired by Irvine-based Commercial Capital Bancorp from using, destroying or disclosing trade secrets in their current jobs.
Johnny Rockets is pushing ahead with plans to double its size, in the Media & Marketing column
A look at people, companies and institutions receiving awards, accolades, grants and other honors
Regulators aren't likely to ask for big changes in New Times' buy of the OC Weekly's owner
SUMCO Corp., the No. 2 maker of silicon wafers, priced its initial public offering at the top end of expectations at $1.34 billion, making it Japan's biggest IPO this year.
Tile mogul Larry Bedrosian continues to expand his real estate holdings here, in the Real Estate column
Construction of a Renaissance ClubSport hotel in Aliso Viejo is slated to begin early next year
Cypress College received some funding for its nurse training program, in the Healthcare columna
The retail sector is leading local commercial construction. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Current bids for Refco's futures brokerage business are likely to be around $1 billion, sources familiar with the bidding said on Monday.
U.S. stocks ended higher on Monday after oil prices settled below $60 a barrel, easing concerns about higher energy costs and renewing investors' enthusiasm for the technology and banking sectors.
Pacific Life Insurance has committed to the Holiday Bowl for a few more years
A tunnel connecting OC to the Inland Empire is looking like a longshot
Grokster Ltd., a leading developer of Internet file-sharing software popular for stealing songs and movies online, agreed Monday to shut down operations to settle a landmark piracy case filed by Hollywood and the music industry, The Associated Press has l
Nobel Biocare has its long-term sights on the denture market
The Original Penguin plans to open at Fashion Island in February, in the Marketplace column
The White House is looking to complement Federal Reserve chairman-nominee Ben Bernanke's academic expertise in monetary policy by filling other open Fed board seats with candidates with a grounding in financial markets and regulatory issues, Republican so
CorVel Corp. took a hit on Wall Street Monday after reporting that a decline in workers' compensation claims and regulatory compliance expenses impacted sales and profit in its most recent quarter.
Pete Wilson: Media Key to Tuesday's Vote; Public Union Attack Familiar
The Orange County Register saw weekday circulation fall for the six months through Sept. 30, but by how much depends on how you slice it.
Property, Health Insurance Top Hotel Chain Worries
Assemblyman Ray Haynes is using twisted logic in his defense of intelligent design, in Letters
A prison healthcare provider saw one of its biggest customers go into receivership
From Ritz Cove to Boom Boom Room; Touring 'The O.C.'
A Visit With the Troops - Adapted from Armon Mills' Publisher's Notebook in the Oct. 31 San Diego Business Journal
Sam & Harry's is bringing its D.C. steak house flavor to the county, in the Executive Dining column
A Fitch Ratings analyst says the county has some long-term challenges to work out
Friday, November 4
British Airways PLC said Friday profit was knocked down 24% on higher fuel prices and a two-day strike at Heathrow. But the U.K. carrier lifted its sales outlook for the year on expectations of higher airfares.
To finance its acquisition of BrownCo, E-Trade said Friday it would concurrently offer $700 million in stock, $250 million worth of senior notes due 2015 and $450 million in equity units.
Construction of a Renaissance ClubSport hotel at Summit Office Campus in Aliso Viejo is slated to begin early next year.
Spectrum Pharmaceuticals Inc. said its third-quarter loss widened as the company spent more money on drug development and a patent lawsuit.
Shares of Clarient Inc., a San Juan Capistrano-based company that provides cancer testing and drug discovery services, saw its shares surge Friday after it signed a deal with Pfizer Inc.
A smaller-than-expected 56,000 new U.S. jobs were created in October despite the fading impact of Hurricane Katrina, while total job growth over the two prior months was revised lower, a government report on Friday showed.
Thursday, November 3
Samsung Electronics Co. expects prices of its core computer memory chips to stabilize in the second half of 2006 and said lower flash chip prices would boost demand.
Irvine-based Quality Systems Inc. on Thursday said that its third-quarter profit was up 56% from last year, beating Wall Street's expectations.
Santa Ana-based Powerwave Technologies Inc. posted sales and income results for the third quarter that beat Wall Street estimates, the company reported Thursday.
In a major victory for Merck & Co., a jury on Thursday decided the drug maker provided adequate warning to doctors about health risks associated with its withdrawn painkiller Vioxx and did not commit consumer fraud in marketing the drug.
Long-term fixed mortgage rates rose for an eighth consecutive week to their highest level in nearly two years, according to Freddie Mac's weekly survey released Thursday.
Retail chain store sales rose in October, as the arrival of cooler weather helped spur demand for fall clothing and merchandise.
Valeant Pharmaceuticals International posted a third-quarter net loss that narrowed from a year ago as its revenue rose 23%, helped by increased product sales and a jump in ribavirin royalties.
Foothill Ranch-based retailer Wet Seal Inc. continued its rebound in October while Anaheim's Pacific Sunwear of California Inc. posted its second solid month in a row.
New Century Financial Corp. reported a 32% drop in earnings before taxes in the third quarter to $123 million, versus a year ago.
Wednesday, November 2
Devax Inc., an Irvine-based startup medical device maker, said Wednesday that it wrapped up a $32 million round of venture funding.
Johnson & Johnson's $25.4 billion acquisition of troubled heart device maker Guidant Corp., the largest U.S. healthcare deal in history, may find its final resolution in court, legal experts said on Wednesday.
Wireless technology company Qualcomm Inc. on Wednesday posted higher fiscal fourth-quarter earnings as revenue rose on strong demand in the market for mobile phones.
Shares of Advanced Medical Optics Inc. surged Wednesday after the Santa Ana eye device maker reported higher third-quarter profits, excluding charges.
Profits fell at Fullerton-based Beckman Coulter Inc. in the third quarter, but the company's shares jumped after the medical device maker raised its outlook on Wednesday.
Irvine-based Microsemi Corp. said Wednesday it plans to buy Bend, Ore.-based Advanced Power Technology Inc. for about $130 million in cash and stock.
A Securities and Exchange Commission probe into General Electric Co. and its use of hedge accounting for derivatives was upgraded to a formal investigation in August, but GE delayed disclosure until its third-quarter financial statements last week.
General Motors Corp. and Ford Motor Co. reported 23% declines in October U.S. sales on Tuesday, as high gasoline prices hammered demand for big sport utility vehicles and industrywide sales slumped to their slowest pace in seven years.
Mortgage applications fell for a second consecutive week as interest rates on home loans climbed to 16-month highs, an industry trade group said on Wednesday.
Tuesday, November 1
Shares of Dell Inc. fell 7.2% Tuesday, a day after the top U.S. PC maker said it is trimming sales and income targets for the current quarter because of sluggish growth in its U.S. and U.K. business and a $300 million expense to fix a faulty computer part
Newport Beach-based chemical company American Vanguard Corp., which specializes in buying older products from big chemical makers, is buying an insecticide from Germany's BASF AG.
The U.S. factory sector absorbed rising energy costs in October and ran at a robust pace, while construction spending hit a record high in September, according to data on Tuesday.
Shares of Allergan Inc. jumped more than 6% after the drug maker reported third-quarter results that beat Wall Street estimates on Tuesday.
Aliso Viejo-based Fluor Corp. said it won a $1 billion contract for engineering work at the Habshan Gas Complex Expansion project in Abu Dhabi.
Orange County automakers reported mixed sales in October with Kia Motors America posting its first decline in months and Mitsubishi Motors North America Inc. logging a gain, its second up month in the past three.
Computer maker Sun Microsystems Inc. on Tuesday posted a quarterly net loss that narrowed slightly from a year ago as revenue rose nearly 4%, helped by its acquisition of data storage equipment maker Storage Technology Corp.
U.S. auto sales fell sharply in October, dampened by hurricanes, fidgety consumers and high gas prices. Demand was down after a summer of heavily hyped discounts, and automakers warned that they don't expect an upswing in November.
The Federal Reserve raised interest rates on Tuesday for the 12th straight time, taking them to the highest level in more than four years and indicating more hikes will be needed to keep inflation at bay.