Stories for July 2006
Monday, July 31
SanDisk Corp., a maker of flash memory used in cell phones and digital cameras, said on Sunday it would buy Israel-based Msystems for $1.55 billion in stock.
The debut of Corner Offices: Profiles of the management group of Orange County's top companies.
The operator of the Arrowhead Pond and Ducks hockey team continues to add staff and promote workers, in the Media & Marketing column
Mindspeed Technologies Inc. said Monday it posted an operating profit in the quarter ended June 30. But shares slumped after the announcement when the company said it expected to slip back to a loss in the current quarter.
Anaheim is pushing a facility for cutting-edge machine tool training and a biomedical wet lab
Newport Beach-based Hager Pacific is stepping up the number,and size,of its out-of-state deals, in the Real Estate column
Kingston Technology led the way as the county's top minority-owned businesses posted a gain in revenue last year
Huntington Beach should look at the success of closing off a road for pedestrian traffic in Netanya, Israel, in Readers' Letters
Office, Industrial Markets See Lower Vacancy and Higher Lease Rates. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
The Federal Reserve is nearing the end of its two-year run of interest rate increases as the United States economy enters a stretch of slower economic growth, Fed officials said on Monday.
Hitachi Ltd. trimmed its losses and Toshiba posted its first profit since it began reporting first-quarter earnings in 2002 in the latest signs of recovery among Japanese electronics makers.
A tour of the Napa Valley wine region with Fleming's as the guide, in the Executive Dining column
Bill Medley's kickoff of the Fashion Island Summer Concert Series drew a huge crowd, in the Marketplace column
A prominent OC computer industry insider may be angling to buy Packard Bell
Shares of Powerwave Technologies Inc. dropped about 10% in afterhours trading Monday after the company said second-quarter sales fell short of estimates and demand from a key customer was falling.
Freedom Communications' Flanders is getting to know OC, where the company has expansion plans
The past year hasn't been the greatest for Cooper Cos., though some insider buying could signal better times ahead, in the Healthcare column
Gateway could be headed for a tough report when it details the second quarter next month, in the Technology column
Boeing's consolidation in Huntington Beach is a product of the location's campus-like environment
Federal Reserve Bank President William Poole said on Monday he feels evenly split about the need for an 18th consecutive interest-rate hike at the Fed's meeting next week.
A couple of local computer industry veterans,Lap Shun "John" Hui and Wayne Inouye,may come out of retirement to take on Europe.
Bankrupt auto parts maker Delphi Corp. on Monday reported a $1.86 billion net loss for June, largely reflecting a charge for a pension and post employment benefit curtailment.
Friday, July 28
Wal-Mart Stores Inc. said Friday it will sell its 85 stores in Germany to Metro AG, a move that effectively ends a nearly decade-long effort by the world's largest retailer to crack the market in Europe's biggest economy.
Bristol-Myers Squibb Co. said Thursday it is the subject of a criminal antitrust probe over a pending deal with a generic drug maker involving its best-selling product, Plavix, and reported a 33% drop in second-quarter profit.
In the wake of Boeing's decision to leave Anaheim, city officials and others see an even greater need to set up a business center to train employees to use state-of-the-art machine tools and have access to super-clean wet labs for biomedical research.
Scott Flanders, chief executive of Irvine-based Freedom Communications Inc., is getting to know Orange County well. And not from behind a desk in an air-conditioned office.
Shares of Costa Mesa-based Volcom Inc. slumped about 30% Friday after the company said it was seeing fewer orders from its top customer and a general slowdown on the retail front.
The economy's growth slowed sharply in the second quarter, logging just a 2.5%pace as consumers tightened their belts and spending on home building dived. Inflation, however, shot up.
Thursday, July 27
Higher interest rates, more unsold homes, falling affordability and weaker homebuyer confidence contributed to a drop in profit at Irvine-based Standard Pacific Corp. in the second quarter.
Orders to factories for big-ticket manufactured goods shot up in June at the fastest pace in three months, powered by a rebound in demand for commercial aircraft.
Lake Forest-based Apria Healthcare Group Inc. on Thursday said cost-controlling efforts helped it to post a higher second-quarter profit.
Housing data and a gauge of business spending in June released on Thursday signaled slower U.S. economic growth ahead, leading many to believe the Federal Reserve is less likely to raise interest rates next month.
Raytheon Co. and Northrop Grumman Corp. reported greater-than-expected profit increases on Thursday. Raytheon, best known for its Tomahawk and Patriot missiles, also said it was looking at selling or spinning off its aircraft division, which makes Hawker
ProLogis, the largest owner and developer of industrial real estate, on Thursday said quarterly funds from operations, a key performance measure, rose 57% and the company raised its forecast, citing strong global demand for distribution facilities.
Heart device maker Boston Scientific Corp. said Thursday it swung to a second-quarter loss because of costs related to its recent $27 billion acquisition of Guidant Corp. The deal helped boost sales by more than 30%.
Memorial Health Services Inc. said Thursday it's considering a sale of its 224-bed Anaheim Memorial Medical Center.
Western Digital Corp. had some good,and not so good,news for investors on Thursday.
Wednesday, July 26
Market share gains and acquisitions helped offset a slowing housing market at First American Corp., which Wednesday reported higher revenue in the second quarter compared to a year earlier.
A pair of Orange County business software companies saw their shares climb higher Wednesday after reporting better-than-expected results for the second quarter.
Investors in Time Warner Inc., whose shares touched a two-year low in mid-July, are seeking signs of a turnaround on Aug. 2, when the world's largest media company is set to introduce its fourth plan in five years to save its online unit AOL.
General Motors Corp. on Wednesday posted a larger-than-expected operating profit and raised its cost-cutting target by $1 billion as its restructuring took hold, sending its shares to a 10-month high.
The U.S. economy grew overall during June through mid-July but some regions reported slowing activity, and there were scattered reports of rising prices, the Federal Reserve said on Wednesday.
Boeing Co. on Wednesday reported a quarterly loss as it took $1.1 billion of previously announced charges to settle government investigations into its defense unit and to cover the costs of delayed surveillance aircraft.
After a tumultuous year and a half, the General has succeeded in taking his company private.
Hewlett-Packard Co. agreed on Tuesday to buy Mercury Interactive Corp. for about $4.5 billion in stock, or $52 per share, in a bid to expand the computer maker's business software operations.
Private equity firm Blackstone Group may try to trump a $21 billion agreed takeover of the No. 1 U.S. hospital chain HCA Inc. by a consortium of rivals, according to a newspaper report.
Tuesday, July 25
Matt Ouimet, the executive who oversaw Disneyland's 50th anniversary marketing push and its biggest surge in attendance since 2000, is leaving as president of Walt Disney Co.'s Anaheim theme parks, hotels and shops.
Amazon.com Inc. said Tuesday that second quarter earnings plunged nearly 58%, missing Wall Street expectations, as the company focused on investing in a shipping deal and new technologies.
Lennar Corp. proposed Tuesday to boost the number of homes it plans to build at the former El Toro Marine base in Irvine.
Securities regulators are continuing to eye possible ways to tighten regulations on hedge funds in the wake of a U.S. court decision striking down a rule requiring the funds' advisers to register with the government, the chairman of the Securities and Exc
Orange County home prices showed a modest increase in June, though the number of sales in the county showed a sharp decline from a year earlier, according to a report Tuesday.
The pace of sales of existing homes in the United States fell 1.3% in June to their slowest pace since January, the National Association of Realtors said on Tuesday.
Sales of existing homes fell in June for the eighth time in the past 10 months while home prices edged up at the slowest pace in more than a decade , more signs that the housing market has slowed dramatically.
U.S. consumer confidence rose in July amid cautious optimism about job prospects, but overall sentiment in months ahead would likely stay below levels touched earlier this year, a survey showed on Tuesday.
Aliso Viejo-based Buy.com Inc., which canceled a public offering bid late last year, said it saw solid sales growth in the second quarter, though its net loss widened.
A judge on Tuesday summarily rejected a request by former Enron Chief Executive Jeffrey Skilling to overturn his convictions of fraud, conspiracy and other charges for helping perpetuate one of the most notorious corporate frauds in history.
Technology bellwether Ingram Micro Inc. said Tuesday that it continued to see solid global demand in the second quarter, though there was some weakness in prices.
Monday, July 24
Builders have started sales at The Irvine Company's Portola Springs project
Google has consolidated its OC operations at the Impac Center in Irvine
Concrete Firm Draws Hard Line; UCI Provost in Demand
Industrial landlords are finally starting to see some of the same rent increases that their office counter parts have recorded, in the Real Estate column
The first round of bidding for bankrupt Delphi's former battery plant is set to wrap up by the end of the month
ProLogis has bought Meadwestvaco former plant in Buena Park with an eye to a revamp of the site
Irvine-based telescope maker Meade Instruments Corp. said Monday it needs more time to file quarterly results to finish a look into its stock options grants.
HCA Inc., the biggest U.S. hospital chain, on Monday agreed to be acquired by an investor group for about $21 billion, plus the assumption of about $11.7 billion in debt, making it one of the largest leveraged buyouts in history.
The Sarbanes-Oxley fueled surge in demand for accountants has changed the hiring landscape
A former Unocal research center in Brea is set to give way to 1,100 homes and 110,000 square feet of stores, restaurants and offices
The board of HCA Inc. is recommending the nation's largest for-profit hospital operator accept a $21.3 billion deal to take the company private in one of the largest leveraged buyouts ever.
The hiring boom at accounting firms continued during the past year
Paul Frank Industries is pushing an expansion, despite a legal squabble with the company's namesake and cofounder
California's business climate is unfriendly to white collar employers, according to a study
Kingston Technology is boosting its investment in Latin America in a bid to grow sales
The Loft at Montage is a formidable restaurant surrounded by great views, in the Executive Dining column,
HOSPITALITY - The owner of the Mission Inn in Riverside is looking to make a chain out a Mexican restaurant at the hotel
Lennar executive Emile Haddad tells how he got his family out of Lebanon
EVocal is selling pricey artist-designed T-shirts and hats at its recently opened store in Costa Mesa in the Marketplace Column
Activity in the Inland Empire was strong in the second quarter, though some sectors saw vacancy rates increase. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
PacifiCare has proven to be a bright spot for troubled parent UnitedHealth Group, in the Healthcare column
Netscope's advertising pacts with GE, Parker Hannifin and Olson spur a hiring push, in the Media & Marketing column,
Texas Instruments Inc., the biggest maker of chips for cellphones, said on Monday that its second-quarter earnings and revenue rose on strong demand for cellphones.
REGULATION WATCH - Unions and businesses are facing off over who is considered a supervisor
Broadcom's shares stabilized a bit after it made an options backdating announcement, in the Technology column
Software, Compensation, Sarbanes Key to Consulting Gains
Some of the biggest private equity firms will submit final bids this week for the semiconductor unit of Philips Electronics in a bid battle that could reach $10 billion, sources close to the matter said on Monday.
A former Unocal Corp. research center in Brea is set to give way to 1,100 homes and 110,000 square feet of stores, restaurants and offices.
Irvine-based Edwards Lifesciences Corp. on Monday reported second-quarter profit that beat Wall Street expectations.
Advanced Micro Devices Inc., the No. 2 supplier of computer processors, said on Monday it would buy graphics chip maker ATI Technologies Inc. for $5.4 billion to expand its product mix as it battles Intel Corp.
Jefferson Wells is among a handful of accounting-related companies that defy easy classification
Conexant shares have been in freefall despite some good news
Friday, July 21
In this year's sweltering Farnborough air show, executives have been getting hot under the collar about claims and counter-claims from bitter rivals Airbus and Boeing.
Foothill Ranch-based Oakley Inc. reported a mixed quarter on Thursday, with sales rising sharply but operating profit falling from a year earlier.
Dell Inc. slashed its outlook on Friday, warning that quarterly earnings would fall about 30% short of forecasts because of a slowdown in the computer market, driving its stock to nearly five-year lows.
Heavy equipment maker Caterpillar Inc. posted a better-than-expected 38%rise in quarterly earnings on Friday and raised its forecast for the full year, bolstered by strong sales to the mining industry.
Same-store sales at Irvine-based Taco Bell Corp. fell 3% for the four weeks through last Saturday in what one analyst called "the most surprising" part of a sales slowdown at parent Yum Brands Inc.
Boeing Co. plans to shut down and sell its sprawling operations in Anaheim and move about 3,700 employees to its Huntington Beach site.
Thursday, July 20
Hyundai Motor Co., which has its U.S. base in Fountain Valley, is looking to build a performance car in the U.S. to attract buyers to its showrooms, and it also would like to enter the pickup truck market, an executive said.
Irvine-based Broadcom Corp. said Tuesday revenue climbed 56% in the second quarter but delayed reporting earnings, pending an investigation into stock option grant timing.
Ford Motor Co., which has been working to slash costs and stem market-share losses, on Thursday posted an unexpected second-quarter loss as sales of large sport utility vehicles slumped on higher gasoline prices and it took charges for employee buyouts.
Pfizer Inc. on Thursday said second-quarter earnings from continuing operations rose more than 10% on higher sales of medicines such as cholesterol fighter Lipitor and Celebrex for arthritis.
Wednesday, July 19
Rising rents pushed up core consumer prices an unexpectedly steep 0.3% in June, but energy costs were lower, a government report showed on Wednesday in a report that could send mixed signals to the inflation-wary Federal Reserve.
Britain's GUS PLC said Wednesday at its annual meeting that it was on track to spin off its Costa Mesa-based Experian Group unit in October.
Allergan Inc. plans to build a laboratory on its Irvine campus to make small quantities of neurotoxin, a component used in its flagship anti-wrinkle drug Botox.
Newport Beach-based savings and loan Downey Financial Corp. saw second-quarter profit fall 23% on higher expenses and a decline in loan and mortgage revenue.
Honda Motor Co. has signed on as the new sponsor of the Arrowhead Pond of Anaheim, which plans to change its name to Honda Center in October.
Bank of America Corp., the No. 2 U.S. bank, on Wednesday said second-quarter profit rose 18% topping Wall Street forecasts, as credit card fees surged and retail banking earnings doubled.
Walt Disney Co. said late on Tuesday its high-profile chief of film production would leave the company, part of a move to boost profits at its studio division that include cutting annual movie production and eliminating 650 jobs.
Tuesday, July 18
The government will start legal action in a major stock option fraud case in the next few days, probably the first in a recently uncovered scandal over the timing of options for top executives, a Securities and Exchange Commission member said.
Orange County homes prices rose to another high in June, even as sales for the month showed another steep drop from a year earlier.
Johnson & Johnson on Tuesday posted a 9% rise in quarterly profit on higher-than-expected sales of its consumer products and prescription medicines, but the stock fell on concern over long-term growth prospects.
Shares of Santa Ana-based SimpleTech Inc. soared 17% Tuesday after the company said surging demand would result in a higher second-quarter profit.
Newport Beach-based real estate developer and manager The Koll Company is paying $273 million for 12 offices buildings in three states.
Producer prices rose a steeper-than-expected 0.5% last month as food prices posted their biggest gain in more than 1.5 years, but prices outside of food and energy rose just 0.2%, the government said on Tuesday.
Monday, July 17
TI Contractors Post Big Revenue Gain, See Landlords Shifting
The office market took a breather in the second quarter, in the Real Estate column
Northgate Gonzalez Market, OC's largest Hispanic grocer, has opened its first San Diego store
Output at factories, mines and utilities rose by a bigger-than-expected 0.8% in June and capacity use also topped expectations, a report showed on Monday in a sign that a hot economy could weigh on an inflation-wary Federal Reserve.
Allergan is planning to build a lab on its Irvine headquarters campus to create neurotoxin, a key component of its Botox treatment
Axiom Microdevices, an Irvine wireless chip designer, is looking to raise a round of funding after winning a favorable patent ruling
Remaking Convention Centers: Infill, Theaters and 'Greening'
Japanese regulations frustrate medical device makers, in the Healthcare column
Drug maker Valeant Pharmaceuticals International is looking to sell its longtime Costa Mesa headquarters and lease elsewhere in Orange County by the end of the year.
Gross absorption in the Mid-Counties industrial market was strong in the first quarter. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
A condominium proposal would remake a big chunk of the Irvine Business Complex
A La Mirada plastic products maker is shopping for an Anaheim site to move its headquarters and give it room to expand
Drug maker Valeant Pharmaceuticals is looking to sell its longtime Costa Mesa headquarters and lease elsewhere in OC
Global economic growth is strong and becoming more broadly based, the Group of Eight nations said on Monday at their summit in St Petersburg.
Antarra Communications in Garden Grove won work from video software maker TMPG, in the Media & Marketing column
Monarch HealthCare is among the state's bigger doctors group with $200 million in yearly sales
San Francisco's Boudin SF has opened at South Coast Plaza, in the Executive Dining column
La Curacao, a sort of Kmart for Hispanic shoppers, is set to open its first local store in Fountain Valley in the fall
Broadcom's stock dive has cost it bragging rights as the county's most valuable company, in the Technology column
Pay for federal workers is out of control, a Viewpoint by Chris Edwards, director of tax policy studies at the Cato Institute in Washington, D.C.
Software from Finance Express helps used car dealers line up loans for buyers, in the Marketplace column
Plans for more housing near John Wayne Airport are moving forward, even as city officials continue to debate zoning issues and development fees for the area long known for its offices, plants and warehouses.
Fullerton-based Beckman Coulter Inc. filed its delayed first-quarter earnings report Monday after finding no substance to allegations made by a former worker that its accounting procedures were flawed.
Top executives at Toyota Motor Corp. are considering options to head off rivals Nissan Motor Co. and Renault from forging an alliance with General Motors Corp., according to BusinessWeek.
Business groups bemoan more than 30 "job killer" bills making their way through the state Legislature
RSM EquiCo has tapped a Bank of America veteran to lead a mergers and acquisitions group
Friday, July 14
Consumer sentiment slipped unexpectedly in July, a report showed on Friday, as consumers' view of their current conditions and expectations declined modestly.
A coalition of statewide business groups has listed 32 bills making their way through the state Legislature as "job-killers" and is mounting a full-court press to stop them.
Irvine-based Broadcom Corp. said Friday it's likely to restate more than five years of earnings and take a charge of more than $750 million to account for the timing of stock options.
Los Angeles-based La Curacao, a sort of Kmart for Hispanic shoppers, is set to open its first Orange County store in Fountain Valley in early September.
Russian oil giant Rosneft on Friday priced its initial public offering at $7.55 a share, valuing the company at $79.8 billion and making the issue the world's fifth-largest IPO and the largest ever for a Russian company.
General Electric Co. on Friday posted a higher quarterly profit, but shares fell to their lowest level in nearly two years after its third quarter outlook disappointed Wall Street.
Thursday, July 13
Intel Corp. said on Thursday it will lay off 1,000 managers, or about 1% of its work force, as it seeks to streamline its business amid heated competition with rival Advanced Micro Devices Inc.
Shares of Multi-Fineline Electronix Inc. dove about 23% Thursday after the Anaheim company warned it would fall far short of its earnings expectations for the quarter ended June 30.
Thirty-four states will sue seven computer memory chip makers on Friday, including Micron Technology and Infineon Technologies, over charges they conspired to rig the market to keep prices artificially high.
Sony Ericsson launched the reporting season for leading mobile phone makers with a doubling of second-quarter earnings to a record high on Thursday and raised its forecast for total industry sales this year.
New applications for unemployment benefits jumped by 19,000 last week on the back of the traditional summer shutdown at automobile plants, according to government data released on Thursday.
A jury on Thursday found Merck & Co.'s withdrawn pain medicine Vioxx was not a substantial factor in the heart attack of a 68-year-old New Jersey woman.
The Federal Communications Commission is set on Thursday to approve the sale of bankrupt Adelphia Communications Corp. to rival cable operators Comcast Corp. and Time Warner Inc. despite objections from consumer advocates.
Ceradyne Inc., a maker of ceramic armor for troops and vehicles, said Thursday it bought a Quebec plant and a new product line for $14.1 million as part of its diversification strategy.
Gateway Inc. is on track to name a permanent chief executive by late September or early October, acting chief Rick Snyder told Associated Press on Thursday.
Wednesday, July 12
Houston's political and business leaders, including former President George H.W. Bush, turned out for Kenneth Lay's memorial service on Wednesday, less than a week after the Enron founder's sudden death.
Gen. William Lyon's foundation has pledged $5 million to the Orange County Performing Arts Center's $200 million expansion campaign.
A onetime cable TV software maker has built up a 9% stake in Irvine's Autobytel Inc. and plans to talk with the online auto marketer's management about its "undervalued" shares, according to a Securities and Exchange Commission filing.
Santa Ana-based Corinthian Colleges Inc. said Wednesday it's begun a review of past stock option grants, making it the fourth Orange County company tied to the widening option backdating controversy.
Tuesday, July 11
U.S. investments and advisory firm Blackstone Group on Tuesday said it closed the world's largest private equity investment fund, Blackstone Capital Partners V, with total commitments of $15.6 billion.
Huntington Beach-based Morgan Sheet Metal Inc., which supplies steel panels to homebuilders, has been acquired by building products company MiTek Inc. based near St. Louis.
Newport Beach-based William Lyon Homes Inc. on Tuesday said second-quarter home orders were down and order cancellations were up.
The U.S. trade deficit widened by 0.8% in May to $63.8 billion as both imports and exports set monthly records, the Commerce Department said Wednesday.
Microsoft Corp. Chairman Bill Gates said Tuesday there was an 80% chance the company's next-generation operating system, Vista, would be ready in January.
European Union regulators fined Microsoft $357.3 million on Wednesday for defying a 2004 antitrust ruling, and warned the company to comply or face bigger fines from next month.
President Bush touted new deficit figures Tuesday showing considerable improvement upon earlier administration predictions, saying it shows the wisdom of his tax cuts.
Biotechnology company Genzyme Corp. said on Wednesday second-quarter earnings rose nearly 9% on higher sales of its drugs for rare and chronic diseases.
Bankrupt auto parts supplier Delphi Corp. on Tuesday reported an $828 million fourth-quarter net loss, pressured by charges, declining production in North America and rising commodity costs.
Shares of Santa Ana-based Advanced Medical Optics Inc. rose Tuesday after the company said it would receive $121 million from Alcon Inc. to settle a patent dispute over devices used in eye surgeries.
Genentech Inc. said on Tuesday its second-quarter profit rose 79% on higher sales of colon cancer drug Avastin and its other cancer medicines.
Google Inc. plans to open a new facility in the Ann Arbor, Mich., area that will employ 1,000 people within five years to handle advertising generated by the Internet search engine, people familiar with the deal said Tuesday.
Monday, July 10
The city of Huntington Beach is looking to stifle cruising and boost shopping, in the Marketplace column
Touring China's great eateries, hotels and sights, in the Executive Dining column
Alcoa Inc., the world's largest aluminum producer, said on Monday that second-quarter profit soared on higher metal prices and strong aerospace demand, although revenue fell below Wall Street expectations and the stock fell.
Take-Two Interactive Software Inc., owner of the blockbuster "Grand Theft Auto" video game series, on Monday said regulators have launched an informal investigation into its stock options policies dating back to 1997.
The technology downturn hit employment here for a surprisingly long time, in the Technology column
Kimco Realty Corp., a leader in purchasing, developing and operating shopping centers anchored by supermarkets, agreed to buy Pan Pacific Retail Properties Inc. for about $2.9 billion, the companies said on Monday.
Tenet Healthcare is paying a steep price to settle its Medicare-related woes, in the Healthcare column
Business expectations of Orange County chief executives, business owners and managers retreated some for the third quarter after two quarters of rising optimism.
Irvine-based mortgage lender New Century Financial Corp. said it made more loans in the second quarter than a year earlier and boosted what it charges borrowers.
Qualcomm Inc. on Monday said the U.S. International Trade Commission was investigating whether handset maker Nokia engaged in unfair trading practices by importing and selling mobile phones that infringed on Qualcomm's patents.
Mice DisplayWorks in Irvine is bucking the trend of OC companies by keeping its distribution and warehouse operations here, in the Real Estate column
EMC Corp., the top maker of corporate data storage equipment, said on Monday second-quarter results fell short of its own forecasts, saying it underestimated demand for a key new product.
Newport Lexus opened with an eye to giving Fletcher Jones' nearby luxury dealership a run for its money
Business expectations for the third quarter remain strong, though local executives were a little less optimistic than a quarter ago
Fox Racing plans to tweak its name as it looks to appeal to a wider audience
Orange County's largest aerospace and defense contractors added workers during the past year
Bixby has completed its first acquisition under new chief Bill Halford
The Orange County Register has called off a venture with rival the Los Angeles Times to deliver advertising inserts, in the Media & Marketing column
A medical device maker on Monday said it filed a patent infringement suit against San Clemente-based ICU Medical Inc.
Kaiser Aluminum is emerging after more than four years in bankruptcy court
Americans increased their borrowing at a 2.4% annual rate in May, significantly slower than in April, as a big jump in credit card borrowing was not enough to offset a slowdown in the growth of auto loans, the Federal Reserve reported Monday.
'Housewives' Gearing For Second Season; Beachfront Bonanza
Great Deluge: Hurricane Katrina, New Orleans, and the Mississippi Gulf Coast By Douglas Brinkley. Harper Collins Publishers.
Cypress is key to West County's office gains. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Friday, July 7
William "Bill" Halford has made his first deal at Bixby Land Co. The privately held real estate investment trust, which recently moved from Long Beach to Newport Beach, just finalized an $18 million industrial complex buy in Ontario.
U.S. Employers added a fewer-than-expected 121,000 workers to their payrolls last month, but the jobless rate stayed at a five-year low and hourly earnings rose, a government report showed on Friday.
Verizon Communications Inc. on Friday said it planned to dispose of its phone directories business by the end of the year, reflecting its increasing focus on Internet and wireless communications.
3M Co., the diversified maker of Scotch tape and films for computer and television screens, warned on Friday that its second-quarter earnings will fall below previous expectations, hurt by lower sales volumes. Its shares sank on the news.
Washington Mutual Inc. almost missed out on buying Irvine-based Commercial Capital Bancorp Inc.
Kaiser Aluminum Corp. is back. Shares of the aluminum products maker started trading on Friday after more than four years under the watch of bankruptcy court.
Thursday, July 6
Wal-Mart Stores Inc. and other top retailers posted disappointing June sales on Thursday as soaring energy prices and record-breaking rains in the Northeast curbed consumer spending.
Shares of Multi-Fineline Electronix Inc. took a hammering on Thursday after a Singapore company that it's buying said sales would fall short of expectations in the June quarter.
Merrill Lynch & Co. Inc. will pay $29.5 million to settle claims that it helped Enron Corp. commit fraud, Enron said on Thursday.
Irvine-based developer SunCal Cos. has upped its ante for 57,000 acres of historical, contentious New Mexico land with an eye toward developing homes there.
The number of Americans filing new claims for unemployment benefits declined slightly last week, indicating continued strength in the labor market despite a spring slowdown in the economy.
Anaheim-based retailer Pacific Sunwear of California Inc. posted a 2.7% drop in June same-store sales and warned second-quarter earnings would fall short of projections. Orange County's other major retailer, Foothill Ranch-based Wet Seal Inc., saw a 4% dr
Responding to government requests for interoperability, Microsoft Corp. said on Thursday it will offer free software that will allow Word, Excel and PowerPoint to handle documents in rival technology formats.
XM Satellite Radio Holdings Inc. reported slower growth in new subscribers for the second quarter Thursday, which the company attributed to problems with product availability and softness in retail sales.
Wednesday, July 5
Shares of Aliso Viejo-based Quest Software Inc. fell nearly 10% Wednesday after the software maker said it plans to restate results from 2000 through the first quarter of this year as part of its ongoing look at stock option grants.
North Korea's brazen missile tests sent Japanese stocks lower Wednesday, snapping a four-day winning streak, and the dollar higher. Auto, electronics and retail shares led the market's decline.
DaimlerChrysler AG Chief Executive Dieter Zetsche said on Wednesday the German-U.S. auto maker was sticking to its operating profit forecast for 2006 despite sales difficulties at its U.S. Chrysler division.
IndyMac Bancorp Inc., which runs its mortgage business from Irvine, onWednesday said it will not pursue an initial public offering of a growing unit that provides loans to older Americans.
Enron Corp. founder Kenneth Lay, who was convicted of helping perpetuate one of the most sprawling business frauds in U.S. history, has died of a heart attack in Colorado. He was 64.
UniCredit SPA, Italy's largest bank, announced Wednesday that it will cut 6,840 jobs, or 5.1%, over the next three years as part of a plan to boost annual earnings by 27% following last year's acquisition of Germany's HVB Group.
New orders at U.S. factories rose more than expected in May and private-sector job creation surged last month, according to reports on Wednesday that showed signs of strength in the economy.
Enron Corp. founder Ken Lay died of a heart attack on Wednesday, six weeks after he was convicted of fraud in the financial scandal that brought down the once-mighty energy conglomerate.
GUS PLC, the British parent of Experian Group in Costa Mesa, has rejected bids to buy the credit reporting business and plans to stick with its plan to "de-merge" the company.
Foothill Ranch-based retailer Wet Seal Inc. said Wednesday the Securities and Exchange Commission has ended its formal investigation of the company with no enforcement action taken.
Monday, July 3
Pacific Sunwear of California is playing up its California roots in the retailer's latest marketing campaign, in the Media & Marketing column
California's November's ballot is shaping up to be one of the most crucial in years for business,
Vacancy for research and development space is falling as development remains sluggish. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Birtcher Development has mostly shelved office projects for industrial ones, in the Real Estate column
Guess what, there are more high-rise homes planned for the Jamboree Corridor
Mexico's conservative presidential candidate Felipe Calderon declared victory on Monday in a bitterly contested election result as official returns showed him ahead of his left-wing rival.
Irvine-based Broadcom Corp. has charged San Diego-based Qualcomm Inc. with stifling competition in South Korea's modem chip market.
Ceradyne Inc. said Monday that it inked a five-year pact worth up to $612 million to supply ceramic body armor to the Army.
Pacific Sunwear of California is playing up its California roots in the retailer's latest marketing campaign, in the Media & Marketing column
Profile Spa and Salon looks to lure men for haircuts, tanning and manicures, in the Marketplace column
Disappointing June sales data from Wal-Mart Stores Inc. heightened concerns that the biggest retailer may trim its quarterly profit forecast later this week, analysts said on Monday.
San Clemente-based Sunstone Hotel Investors Inc. has bought the W Hotel San Diego for $96 million
The report includes a look at some of the longer-running restaurants in Orange County; These Restaurants Have a Long History for Good Reason
A couple of OC companies were quick out of the gate with the latest wireless Internet gear, drawing some criticism, but grabbing retail shelf space at the same time
Airbus parent EADS failed to rouse its recently trampled share price on Monday after the European aerospace giant forced out two top executives blamed for a two-week crisis over A380 superjumbo production blunders.
Oakley has boosted its marketing as it focuses more on sunglasses and tweaks its clothes and shoes
Cooper could be in for a long summer as it works through questions about a product launch and earnings woes
Slowing home sales aren't dampening interest in building high-rise condominium towers near John Wayne Airport. A couple of planned projects targeted for industrial land along Jamboree Road in Irvine would raise the number of condo towers built or planned
A cadre of former Mellon 1st Business Bank senior executives with ties to Orange County have jumped ship to form their own business bank