Stories for February 2006
Tuesday, February 28
Israel's Teva Pharmaceutical Industries Ltd., which has big operations in Irvine, posted a 9% rise in fourth-quarter profit on Tuesday, helped by further strong sales of multiple sclerosis treatment Copaxone as it prepares launches of generic drugs in 200
The median price for a detached Orange County home was $699,060 in January, down a hair,0.5%,from December and up 10% from a year earlier, the California Association of Realtors said Tuesday.
The chief financial officer of Google Inc. on Tuesday said overall growth is slowing and is largely organic, according to cable network CNBC.
Apple Computer Inc. on Tuesday introduced an iPod "Hi-Fi" home stereo system shaped like a speaker set on its side as it seeks to broaden the reach of its market-leading portable music player.
The economy, which stubbed its toe in the final quarter of 2005, is probably back on firm footing in the opening quarter of this year despite a cooling housing market and somewhat skittish consumers.
Anaheim-based retailer Pacific Sunwear of California Inc. reported solid profit and sales gains for the quarter ended Jan. 28 but said it is "cautious" about the current quarter.
Shares of Valeant Pharmaceuticals International closed up nearly 5% Tuesday after the drug maker reported a narrower fourth-quarter loss.
Americans in February became less optimistic about the overall economy, especially the short-term prospects for the job market, sending a widely followed barometer of consumer sentiment below analysts' estimates.
Newport Beach-based American Vanguard Corp., a seller of pesticides, antibiotics, weed killers and other chemicals, said Tuesday its shares are moving to the New York Stock Exchange from the American Stock Exchange.
Vietnam has approved the issue of a license to Intel Corp, the largest chip maker, to build a $605 million plant to produce chips and computer parts in a deal that officials hope could help draw more investors.
Aliso Viejo-based medical device maker MicroVention Inc. is being bought by Japan's Terumo Corp., the companies said Tuesday.
Irvine-based Standard Pacific Corp. said that its new-home orders are down 13% to 1,431 this year. The homebuilder said in a statement that it's seeing lower demand in some markets "from the unsustainable pace of the past few years."
Monday, February 27
Allergan is making the rounds to make the case for more growth of Botox, in the Healthcare column
French-style Sunday dinners are a treat at Culinary Adventures' restaurants, in the Executive Dining column
Irvine-based ECC Capital Corp., parent company of mortgage financier Encore Credit, said Monday it won't pay a first-quarter dividend in another sign of shrinking profits for subprime mortgage lenders.
Startup Friendly Hills Bank aims to go after business in North Orange County
Nationwide Health Properties is moving beyond nursing homes by buying medical offices
Disk drive makers are pushing their products for consumer electronics devices
Jeffrey K. Ball has banking in his blood. Now the 20-year banker is starting a business bank from scratch just over the county line in Whittier.
Lake Forest-based Western Digital Corp. said Monday it's on track to meet sales and profit expectations for the quarter, according to a regulatory filing.
Emulex has plans to pick up the sales and profit pace in its battle with cross-county rival QLogic
Qwest Communications International Inc. is eyeing a range of potential acquisitions and would consider companies outside of the traditional telecommunications market, Chief Executive Richard Notebaert said on Monday.
General Electric Co. on Monday said it plans to sell its remaining stake in Genworth Financial Inc. for about $2.8 billion, less than two years after it took the life and mortgage insurance unit public.
One of Japan's largest convenience store operators plans to come to OC, in the Marketplace column
Medicare has been a gift for rebounding Sun Healthcare Group
Sales of new homes fell 5% in January to their slowest pace in a year while the number of homes on the market hit a record high, according to a government report on Monday that signaled further cooling in the housing market.
A funny, poignant play tackles unease amid the new world order, an Executive Briefcase
The county's biggest environmental consulting companies reported billings gains in 2005
Y & R; nabbed its first account under its new local leader, in the Media & Marketing column
There's no sign of a letdown in the pace of low-rise office leasing. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Most chief financial officers in Orange County believe their companies will add workers this year, according to a survey released Monday.
There's not much fallout on Wall Street from Wet Seal's failed bid to buy G+G
RadioShack said on Monday that its board accepted the resignation of David Edmondson from his posts of president, chief executive and director.
Lowe's Cos. Inc., the second-largest home improvement retailer, on Monday reported higher-than-expected quarterly earnings and gave a bullish outlook as renovations and commercial business fueled its strongest sales increase in years.
The Irvine Company's recent shopping spree has upped the ante in the high-rise office market
UC Irvine's real estate school is taking shape as it looks to raise money, in the Real Estate column
General Motors Corp. on Monday said it will invest $500 million in its Toledo, Ohio, transmission plant to produce a new type of automatic transmission for full-size trucks and sport utility vehicles.
Chris Cox, the head of the Securities and Exchange Commission, said on Monday that top agency officials were not informed before a regional office took the "highly unusual" step of issuing subpoenas to two journalists in a stock manipulation investigation
Look for Ingram Micro to emphasize a sales push this year, in the Technology column
Friday, February 24
Toshiba Corp. led the market for tiny disk drives that go into digital music players, phones and other gadgets in the second half of 2005.
Irvine-based Oryxe Energy International Inc. has boosted its third round of venture funding to $27 million.
A judge on Friday stopped short of ordering an immediate shutdown of millions of BlackBerry devices, but reminded manufacturer Research In Motion Ltd. it had already been found to have infringed the patents of NTP Inc.
Cypress-based Real Mex Restaurants Inc. said profit more than doubled last year as same-store sales rose 2.9%. The company said earlier this year its owners are looking to sell the chain.
A group of private equity firms that has expressed an interest in buying market research giant VNU for as much as $8.7 billion is close to making a firm bid, a person familiar with the situation said on Friday.
Thursday, February 23
CBS Corp. reported a loss of $9.1 billion in the fourth quarter on hefty charges to write down the value of its radio and television businesses, the media company reported Thursday.
Irvine-based RiverOne Inc., a maker of supply chain software that's raised $50 million in funding, has been acquired by Dallas-based rival I2 Technologies Inc.
KLA-Tencor Corp., the No .2 U.S. chip-equipment maker, is buying ADE Corp. for about $488 million in stock, the companies said Thursday.
Huntington Beach-based BJ's Restaurants Inc. backed up its recent stock surge with fourth-quarter results that slightly beat expectations.
Irvine drug maker Spectrum Pharmaceuticals Inc. said Thursday it signed a distribution deal and landed an investment from Par Pharmaceutical Cos. of New Jersey.
An extensive investigation of embattled Fannie Mae points to its former finance chief and controller as mainly responsible for the accounting failures at the mortgage giant now struggling to emerge from an $11 billion scandal, said a report released Thurs
Toll Brothers Inc., one of the nation's top luxury home builders, on Thursday said its first-quarter earnings rose 49% on revenue growth, topping Wall Street expectations, but contracts fell.
Wednesday, February 22
Sales of servers for businesses slipped for the first time in nearly three years as customers switched to less-expensive systems in the fourth quarter, market researcher IDC reported on Wednesday.
Regulators have signed off on a less-restrictive label for Valeant Pharmaceuticals International's Parkinson's disease drug, the Costa Mesa drug maker said Wednesday.
Reassuring words from Quiksilver Inc. sent shares of the Huntington Beach-based surfwear maker up nearly 12% at the close of trading Wednesday.
Santa Ana-based title insurer First American Corp. named a Lehman Brothers Holdings Inc. executive as its chief financial officer Wednesday, filling a gap created by a death in January.
The Carlyle Group is set to boost its investment in the renewable energy sector as demand is rising, the firm's founder and managing director, David Rubenstein, said on Wednesday.
A group of Microsoft Corp.'s rivals filed a complaint with the European Commission on Wednesday, alleging its business practices threatened to deny real choice among competing software products.
Hovnanian Enterprises Inc. said Wednesday preliminary net contracts rose 12% from last year in the fiscal first quarter and stuck to its earlier quarterly profit forecast.
Tuesday, February 21
A key U.S. economic gauge rose a sharp 1.1% in January, its largest jump in seven months, to a record 140.1, the New York-based Conference Board said on Tuesday.
Federal Reserve policymakers last month indicated that interest-rate decisions could become less predictable, relying more heavily on short-term economic prospects than on more sweeping monetary strategy, according to minutes released on Tuesday of the Fe
A closely watched gauge of future economic activity rose sharply in January, suggesting the nation's economy could see robust growth in the spring, a private research group said Tuesday.
Wal-Mart Stores Inc. on Tuesday posted a 12.5% rise in quarterly profit as an aggressive holiday advertising campaign drove demand for laptop computers and gift cards, but it said rising interest costs would restrain results this year.
Moody's Investors Service on Tuesday cut its debt rating on General Motors Corp. deeper into junk territory, saying it is increasingly concerned that high wage and benefit costs are making it difficult for the automaker to compete outside of bankruptcy.
Shares of Interchange Corp. took a hit after the company posted quarterly results Tuesday that fell short of Wall Street expectations and reported a weak outlook for the first quarter.
Micron Technology Inc. said on Tuesday it filed a lawsuit against Rambus Inc., marking the latest legal shot in a long-running battle over the $30 billion market for computer and graphics memory chips.
Computer-chip maker Marvell Technology Group Ltd. Tuesday said it is buying the printer-chip business of Avago Technologies for $240 million in cash, its third acquisition in the past six months.
Hotel real estate investment trust MeriStar Hospitality Corp. said on Tuesday it agreed to be bought by private equity firm Blackstone Group for about $2.6 billion, making it the latest deal in a spate of mergers in the lodging industry.
Monday, February 20
The new boss at Young & Rubicam's Irvine office comes in at a critical time for the ad shop
Anaheim's Lawyer Shrugs Off Critics, Predicts Late Rally
Look for Oakley's marketing to change as it restructures some of its operations, in the Media & Marketing column
Some Homebuilders Working Affordable Homes into Mix
Sony Corp.'s launch of its next-generation PlayStation 3 video game console could be delayed if industry specifications for some of its technology are not finalized soon, although it is still aiming for a spring rollout, it said on Monday.
Squeezing OC: Low Vacancy, Supply to Push Apartment Rents
Famima Corp., the U.S. arm of Japan's FamilyMart Co., plans to open several of its high-end convenience stores in Orange County by early next year.
Costa Mesa-based Netifice Communications Inc. has raised $35 million in funding and is buying rival MegaPath Networks Inc. of Pleasanton, the company said Tuesday.
Is Orange County a City? A Viewpoint by Joel Kotkin, a Southern Californian and noted urbanologist
Samsung Electronics Co., the biggest memory chipmaker, said on Monday it would invest $635.1 million on memory chip research and flat-screen production.
The office market continued to post improving results in the fourth quarter. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Former Merrill Lynch & Co. chief economist Donald Straszheim has joined Newport Beach-based Roth Capital Partners LLC as vice chairman.
The Medical Design & Manufacturing show saw attendance at its Anaheim show grow 17% this year
A look at The Irvine Company's landscaping efforts
A Boeing contract the Pentagon threatened to scale back last year is back on track
ABOUT THE LIST - Lack of Space Continues to Hinder Home Sales; El Toro, Tustin Bases Future Factors
Boston-based Bingham McCutchen's local office has hired several lawyers from Stradling Yocca
Mercedes-Benz is opening a showroom for classic car lovers, in the Marketplace column
BNC Mortgage Inc., part of Lehman Brothers Holdings Inc., has laid off about 100 Orange County workers in another sign of contraction for the local subprime mortgage sector.
Henkel's U.S.-based Dial Corp. subsidiary has acquired antiperspirant and deodorant brands from Gillette, a subsidiary of Procter & Gamble, for $420 million.
Mastro's Steakhouse stakes its claim as one of OC's glamorous restaurants, in the Executive Dining column
A look at people, companies and institutions receiving awards, accolades, grants and other honors
The fight for the flash memory market is heating up, in the Technology column
An affiliate of Hoag Memorial bought the Newport Technology Center office Park, in the Healthcare column
LBA Realty's latest buy is another in a string of big acquisitions, in the Real Estate column
A defense of the governor, a Viewpoint by James L. Doti, president of Chapman University and a member of Gov. Schwarzenegger's Council of Economic Advisors.
Rupert Murdoch saw a Web site with monster growth potential in MySpace.com, the online music and dating phenomenon that makes it easy for teens to find friends and express themselves.
Young & Rubicam Brands in Irvine, Orange County's largest advertising shop, has won its first account under new boss Rick Eiserman: the Los Angeles Dodgers.
Friday, February 17
Chief executives of large multinationals are hopeful new Federal Reserve Chairman Ben Bernanke will continue Alan Greenspan's inflation-fighting record, but most expect only one or two more rate increases before a pause, executives said this week.
Newport Beach video game maker Shiny Studios is up for sale by struggling parent Atari Inc. of New York.
Irvine-based New Century Financial Corp. on Friday rejected a bid by a hedge fund shareholder to gain three seats on its 10-member board.
Time Warner Inc. Chief Executive Richard Parsons is looking at Univision Communications Inc. as the Spanish-language broadcaster considers a sale, according to an interview published in the Wall Street Journal on Friday.
The Irvine Company has finalized the buy of two downtown San Diego buildings, including the city's marquee One America Plaza.
Newport Beach-based Roth Capital Partners LLC is set to hold its yearly stock conference,with plenty of afterhours partying and musical entertainment,next week.
Sirius Satellite Radio Inc. on Friday posted a wider quarterly loss as costs increased, but subscribers rose sharply in the run-up to the launch of a new show by ribald radio host Howard Stern.
Fullerton-based Beckman Coulter Inc. said sales and profit fell in the fourth quarter as the company's shift to leasing of its medical devices took hold, the company said Friday.
Thursday, February 16
Santa Ana-based title insurer First American Corp. beat Wall Street expectations with its fourth-quarter profits but spooked some investors with cautious words about this year.
Online retailer Amazon.com Inc. is in advanced talks with four major music companies on starting a digital music service as early as this summer to compete with Apple Computer Inc., sources familiar with the matter said on Thursday.
The parent company of Bank of Orange County on Thursday said it's buying Carlsbad-based Southwest Community Bancorp for $175 million.
Economic data on Thursday pointed to unexpected strength in the housing market thanks to mild winter weather in January, while import prices surged and weekly jobless claims rose more than expected.
Dell Inc., the largest PC maker, on Thursday said quarterly profit rose 52% as it increased sales outside the U.S. and sold more computers to businesses.
Cooper Cos., a Lake Forest maker of contact lenses, got hit with a lawsuit after saying it plans to restate results last month.
The No. 5 mobile phone maker Sony Ericsson said it has its eyes firmly set on a top three position as it launched a new range of phones, including a $50 model for the mass market which plugs a hole in its line-up.
Fourth-quarter earnings growth projections improved slightly this week, with results from Hewlett-Packard Co. and Applied Materials Inc. providing a more upbeat outlook for the technology sector.
Wednesday, February 15
Federal Reserve Chairman Ben Bernanke will seek to establish his anti-inflation credentials when he delivers the central bank's semi-annual report to Congress on Wednesday after just two weeks on the job.
South Korea's LG Electronics aims to increase its global shipments of mobile phones by as much as 30% in 2006 as it gets ready to launch much cheaper phones, its handset technology chief said on Wednesday.
Orange County housing prices and sales slipped noticeably in January. The median price of a home sold in OC was $582,000 in January, up 9% from a year earlier but 6% below the record high of $621,000 set just a month earlier.
Hewlett-Packard Co. on Wednesday posted a 23% rise in quarterly profit that topped Wall Street estimates, spurred by sales of notebook computers and printer supplies.
Merrill Lynch & Co. said on Wednesday it will merge its asset management unit with money manager BlackRock Inc., creating one of the world's largest asset management firms.
Aliso Viejo-based QLogic Corp. plans to pay about $109 million to buy Sunnyvale-based PathScale Inc., which makes software and devices that connect storage systems, the companies said Wednesday.
In his Capitol Hill debut as Federal Reserve chief, Ben Bernanke on Wednesday said the U.S. economy was running so near capacity that higher interest rates may be needed to quell the risk of inflation.
Foothill Ranch-based Wet Seal Inc. said Wednesday it lost out in bidding for G+G Retail Inc., a bankrupt clothing chain it had sought to buy for $15.2 million.
Tuesday, February 14
Santa Ana-based Ingram Micro Inc. topped estimates in a record-setting fourth quarter as the company saw sales growth across the globe.
Marsh & McLennan Cos., the world's largest insurance broker, on Tuesday posted a weaker-than-expected fourth-quarter profit as insurance premiums declined and revenue dropped at its Putnam mutual fund business.
Costa Mesa-based apparel designer Volcom Inc. reported strong fourth-quarter results but warned that spending on stores and a European expansion stands to impact profits for the current quarter.
General Motors Corp. said Tuesday that it will hire almost 300 workers and invest $545 million in five Michigan plants.
U.S. retail sales soared in January as warm weather and gift card redemptions spurred shoppers, setting the stage for a first-quarter rebound in economic growth and possibly more interest rate hikes from the Federal Reserve.
Cisco Systems Inc. sold $6.5 billion of debt on Tuesday, $1 billion more than initially planned, as investors snapped up the Internet equipment maker's first bond issue, the largest debt debut by any U.S. company.
Starbucks Corp. said on Tuesday it would meet market forecasts by delivering annual earnings growth of at least 20% over the next three to five years as China becomes a focus for its global strategy.
The Federal Reserve is committed to pursuit of monetary policy that supports economic growth without higher inflation, Federal Reserve Bank of Dallas President Richard Fisher said on Tuesday.
Monday, February 13
Wayne Inouye's departure from Gateway shines a light on one of the company's shortcomings: sales to businesses
Lennar Likes Bay Area Mayors, Too; Brit Visits Pulido
Move brings company new, big competitors,Sony, Samsung. Linksys is pushing its electronics products geared to a non-techie crowd
Portillo's Chicago dogs are a hit in OC, in the Executive Dining column
ABOUT THE LIST 2 - Deposits Grew at Banks for Fifth Year in a Row; Beating National Average
Buena Park Downtown's manager is eyeing big retailers
Hager Pacific Stepping Up Investing After Sale; New Century Surprises With Q4,Will It Hold? Shea Properties made a big investment in Denver, in the Real Estate column
Hager Pacific Stepping Up Investing After Sale; New Century Surprises With Q4,Will It Hold? Shea Properties made a big investment in Denver, in the Real Estate column
General Motors Corp. may cut its dividend for the first time in more than 13 years, and will likely review bids for a majority stake in its finance arm, analysts said, as its board of directors meets on Monday.
Hewlett-Packard Co. will announce plans on Monday to make its hand-held device business a standalone entity, the Wall Street Journal reported, citing company executives.
An OC developer and the owner of Lake Elsinore's minor league baseball team are planning a hotel, restaurants and stores around the stadium
Wells Fargo's Pilot Mortgage Program for Illegals, Foreigners in OC Could Gain Traction
NAFTA's fallout is under the microscope, a Viewpoint by Charles Crumpley, editor of the Los Angeles Business Journal
In his first address as Federal Reserve chairman, Ben Bernanke on Monday said that the central bank's dual mission of keeping prices stable and promoting growth and jobs serves America well.
Japan's Toshiba Corp. has agreed to buy Westinghouse, the U.S. power plant arm of British Nuclear Fuels, for $5.4 billion to bolster its position in the world's resurgent nuclear power industry.
A reorganized Beckman Coulter is ready to weigh in with its results. Q4 Expectations are low on Wall Street; Surprises on tap?
Whirlpool Corp.'s proposed $1.79 billion acquisition of Maytag Corp. may face a legal challenge from federal regulators, The Wall Street Journal reported Monday. Shares of both companies slumped on the report.
First Angelina Jolie. Now Vera Wang? Irvine-based St. John Knits International Inc. is said to be in talks with Wang to become creative director of the women's clothier, according to trade publication Women's Wear Daily.
Google Inc.'s stock price dropped by more than 4 percent Monday, accelerating a recent shift in sentiment that has caused once-ebullient investors to become more circumspect about the online search engine leader.
The office market is leading OC's construction activity. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
A Santa Ana arts school draws creative types and business backers
The Irvine Company is said to be gobbling up office towers in downtown San Diego
Wachovia Corp.'s $4 billion acquisition of Irvine-based Westcorp Inc. and affiliate WFS Financial Inc. moved a step closer after the nation's bank regulatory agency approved the deal, the companies said Monday.
Shares of BlackRock Inc. shot higher on Monday in thin, pre-market trading amid speculation the money management firm was involved in a deal with Merrill Lynch & Co.
An investor conference is set to shine light on more than 40 medical device startups, in the Healthcare column
Y & R;'s new boss already has a lot on his plate, in the Media & Marketing column
Early signs on how a reorganization is playing out at Fullerton-based Beckman Coulter Inc. are due later this week.
Irvine-based Worldlink Integration got an investment from Unisys' former chief executive, in the Technology column
Rusty Apparel is going back to its surfing roots in a bid to rekindle its sales
Grading has started on the first high-rise office tower set for Irvine in several years
UCI Medical Center's search for a permanent chief executive stands to take a while
Garden Grove-based DPAC Technologies Corp. said Monday its proposed buy of Hudson, Ohio-based QuaTech Inc. finally is set to go to a shareholder vote.
Nike Inc., the biggest athletic shoe company, dispelled market speculation on Monday it might buy rival Puma, saying it was not seeking any significant acquisitions at the moment.
Friday, February 10
Irvine-based Broadcom Corp. recorded a small setback in its ongoing patent dispute with San Diego's Qualcomm Inc., the companies said Friday.
Volkswagen may cut up to 20,000 jobs in the next three years at its core VW brand in a sweeping restructuring program that could also lead to a reduction in production capacity, it said on Friday.
An Orange County developer and the owner of Lake Elsinore's minor league baseball team hope to develop an area around the city's baseball stadium with a hotel, restaurants and stores.
The U.S. trade gap widened slightly in December to the third-highest level on record and pushed the annual deficit to a record $725.8 billion, up 17.5% from 2004, the Commerce Department said on Friday.
Pfizer Inc., the world's largest drugmaker, on Friday forecast slightly lower 2006 earnings and possibly disappointing sales of its biggest product, the cholesterol fighter Lipitor.
Two Orange County healthcare technology companies took divergent paths Friday on Wall Street.
Thursday, February 9
U.S. jobless claims rose less than expected last week in the latest sign of tightening labor markets, which may prompt the Federal Reserve to hoist interest rates to 5% before pausing.
Best Buy Co. Inc. on Thursday said profits would be bigger than expected in the current quarter on strong demand for flat-panel televisions and MP3 players in the period that includes the holiday shopping season and Super Bowl Sunday.
American International Group Inc., one of the world's largest insurance companies, has agreed to pay $1.64 billion to resolve allegations that it used deceptive accounting practices to mislead investors and regulatory agencies.
Marriott International Inc. on Thursday said quarterly profit rose 25% as strong demand allowed it to increase room rates, and the top U.S. hotel operator raised its outlook for 2006.
Research In Motion Ltd. on Thursday unveiled a plan that it says will let its addictive BlackBerry e-mail device work even if it loses a patent dispute, and said the workaround will prevent a shutdown of service in the U.S.
The jury deliberating the Angels name change case has sided with owner Arte Moreno in his controversial switch of the baseball team's name to Los Angeles Angels of Anaheim.
American International Group Inc., the world's largest insurer, has agreed to a record $1.6 billion settlement over federal and state charges of fraud and other misconduct, the Wall Street Journal said on Thursday, citing sources familiar with the matter.
Wayne Inouye, who brought Irvine-based Gateway Inc. to Orange County after emerging as the computer maker's leader in 2004, resigned Thursday amid continuing troubles at the company.
Wednesday, February 8
Lower Medicare payments again dinged Lake Forest-based Apria Healthcare Group Inc. as the home healthcare provider said Wednesday its fourth-quarter profit fell 28%.
Rupert Murdoch-controlled media conglomerate News Corp. on Wednesday said its fiscal second-quarter profit nearly tripled, boosted by gains from the sale of an education supplement publishing unit.
Internet telephone service provider Vonage Holdings Corp. may raise up to $250 million in an initial public offering to fund efforts to expand its subscriber base, according to a regulatory filing on Wednesday.
Borland Software Corp. said on Wednesday it would buy Segue Software Inc., a maker of software quality and testing systems, in an all-cash deal valued at about $100 million.
Spanish-language broadcaster Univision Communications Inc. said Wednesday that its board of directors has decided to explore a possible sale of the company.
Irvine-based Broadcom Corp. saw a mixed ruling Wednesday in its patent dispute with San Diego-based Qualcomm Inc.
GlaxoSmithKline PLC beat forecasts for 2005 profit on Wednesday and predicted earnings growth of about 10% this year, with momentum building in its well-stocked pipeline of new drugs.
IBM Corp. has bought Irvine's Viacore Inc. for undisclosed terms, the companies said Wednesday.
Tuesday, February 7
The California arm of Banco Popular North America plans to move its regional headquarters to Anaheim from Santa Fe Springs by March.
Lazard Ltd., on behalf of corporate raider Carl Icahn, on Tuesday called for the breakup of Time Warner Inc. into four companies and stock buybacks totaling about $20 billion.
A New Jersey jury has ruled against Conexant Systems Inc. and told the Newport Beach chipmaker to pay $112 million in damages.
Shares of Sybron Dental Specialties Inc., a Newport Beach-based maker of dental products, were off about 6% on Tuesday after the company missed Wall Street estimates because of stock compensation expenses and other charges.
Medical device maker Boston Scientific Corp. on Tuesday said quarterly net earnings rose 12% despite slower sales of its heart stents to treat clogged arteries.
General Motors Corp. halved its dividend on Tuesday, the first reduction in more than 13 years, and slashed executive pay, cutting costs and seeking leverage for sweeping, long-term changes in its labor contracts.
Dell Inc. and Google Inc. confirmed on Tuesday they are testing a pre-installed package of Google software on Dell computers, in a potential blow to Microsoft Corp.'s dominance of desktop software.
Communications equipment maker Cisco Systems Inc. on Tuesday posted a 1.8% fall in quarterly net profit from stock options expensing, but revenue rose as business customers spent more money on network and security upgrades.
Monday, February 6
AT & T; says it is in talks with other Southern California cities about offering TV service over the Internet and phone lines
Upscale clothing boutique All the Rage Baby is planning a second OC store, in the Marketplace column
A Vegas deal is Buchanan Street Partners' biggest so far, in the Real Estate column
The California arm of Banco Popular North America plans to move its headquarters to Anaheim
Huntington Beach-based Quiksilver Inc. made the restucturing of its DC Shoes executive ranks official on Monday with the naming of Nick Adcock to head the unit.
Lucy Love isn't looking to ship manufacturing of its clothes and bathing suits offshore, despite high costs in California, in the Media & Marketing column
Big changes have played out at Irvine-based Ambiguous Industries, one of Orange County's "buzz" clothing makers
Los Angeles County's office market recorded a positive fourth quarter though the industrial sector was mixed. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Even as California employers are enjoying sharp reductions in their workers' compensation premiums, efforts are now under way in Sacramento to undo substantial portions of the reforms that generated those savings.
Nissan Motor Co. Ltd. is dropping company-sponsored health-care coverage for its retired manufacturing employees in the United States and will instead pay them an annual stipend.
Doti, OCBJ Star In Angels Trial; French Connection
Hospital building projects in the planning stages, under construction or recently completed.
Connexion by Boeing may shake up its game plan as it faces fresh competition
A former partner with Domain Associates is starting his own venture investment company in OC
American International Group Inc., the world's largest insurer, is on the verge of settling federal and state charges of fraud and other misconduct for a record payment of at least $1.5 billion, sources close to the case said on Monday.
Love is in the air: Fifi's Valentine's Day tips, in the Executive Dining column
Allergan Inc. said Monday that it again extended its $3.2 billion buyout offer for Inamed Corp. for two more weeks after federal antitrust approval was delayed.
A look at people, companies and institutions receiving awards, accolades, grants and other honors
Efforts are under way in Sacramento to undo substantial portions of the workers' compensation reforms
Broadcom continues to surge on Wall Street thanks to a booming electronics trade
Several chip stocks continued their surge following a spate of quarterly earnings releases, in the Technology column
The Walt Disney Co. on Monday posted a higher quarterly profit, due to growth in its parks and resorts, media networks and consumer products units.
Allergan could benefit from the comeback of silicone gel breast implants when its buy of Inamed closes, in the Healthcare column
Bill Halford, the former head of The Irvine Company's office unit, is planning to start a new venture
Friday, February 3
U.S. employers added a smaller-than-forecast 193,000 new jobs in January but job growth in each of the five prior months was revised upwards and last month's unemployment rate fell to a 4-1/2-year low of 4.7%, the government reported on Friday.
William "Bill" Halford, who left as head of The Irvine Company's growing office empire this week, has a new venture in the works where he'll have a leading role and likely a financial stake.
Irvine-based Allergan Inc. on Friday appointed F. Michael Ball as its president, succeeding David Pyott, who retains his chief executive and chairman titles.
U.S. consumers were not quite as upbeat in January as they were at the end of last year as higher oil prices offset some of the positive impact of a strong stock market and job market, according to data released on Friday.
Domain Associates LLC, a key source of funding for Orange County medical device and drug startups, is moving its West Coast offices from Laguna Niguel to Carmel Valley in San Diego County. One notable name isn't making the move.
New orders at U.S. factories rose 1.1% in December, slightly ahead of forecast, as strong demand for machinery and durable goods offset weakness in civilian aircraft, a government report showed on Friday.
Thursday, February 2
Irvine-based Gateway Inc. Thursday reported disappointing sales in the fourth quarter, sending its shares down nearly 7% in afterhours trading.
Irvine-based New Century Financial Corp. offered some good news for the beleaguered subprime mortgage lending industry on Thursday.
Amazon.com Inc. said on Thursday its net profit fell in its critical fourth quarter.
Video game maker Electronic Arts will lay off several hundred employees as it grapples with a transition to new consoles, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
Tyco International Ltd. on Thursday reported lower quarterly profit and forecast disappointing earnings for the current period on weakness in its healthcare and fire and security divisions.
Regulators are concerned about heavy commercial real estate exposures and risky mortgage lending practices at banks, Federal Reserve Board Governor Susan Bies said on Thursday.
Aliso Viejo-based Buy.com Inc., which nixed a public offering bid late last year, said it turned a profit in the fourth quarter, thanks to an investment sale.
Business productivity fell unexpectedly in the fourth quarter and labor costs accelerated sharply in what could be an early sign of wage inflation, a government report showed on Thursday.
Irvine-based Allergan Inc. said Thursday that its fourth-quarter profit rose about 8%, driven by double-digit sales growth of its core Botox wrinkle reducing drug.
Top retailers posted better-than-expected January sales on Thursday as shoppers redeemed gift cards to buy discounted winter gear and early spring fashions in one of the warmest Januarys on record.
Wednesday, February 1
Former Enron Corp. chief executives Ken Lay and Jeffrey Skilling were so intent on boosting the stock price that at least twice the company tampered with quarterly earnings reports to meet or beat Wall Street forecasts, a former Enron executive testified
A transplant specialist who had worked part time at UCI Medical Center's troubled liver transplant program is being asked to step down as director of the University of California, San Diego's abdominal transplant program.
Detroit's Big Three automakers on Wednesday reported surprising increases in January U.S. vehicle sales, breaking losing streaks that began in the fall of last year as their aggressive discounting lost steam.
Pending sales of U.S. homes dropped in December, extending a months-long slide as the housing market shows signs of sustained cooling, the National Association of Realtors said on Wednesday.
Cypress-based Mitsubishi Motors North America Inc. said its U.S. sales were up 2.8% in January versus a year earlier.
Santa Ana-based MSC.Software Corp. said Wednesday it plans to sell its Japanese services unit to Information Services International-Dentsu Ltd.
U.S. manufacturing growth slowed in January for a third straight month amid weaker employment, higher costs and fewer new orders, according to a survey published on Wednesday.
The Patent and Trademark Office has sided with BlackBerry portable e-mail device maker Research in Motion Ltd. by issuing a non-final rejection of a fifth patent at the center of its legal battle with patent holding company NTP Inc.
U.S. construction spending rose a stronger-than-expected 1% in December, closing out a record year on a robust note as homebuilding activity bounced back from a weak November, a government report on Wednesday showed.