Stories for March 2007
Friday, March 30
The lukewarm bidding for Chicago-based media company Tribune Co. has heated up, with Los Angeles billionaires Eli Broad and Ron Burkle submitting a last-minute bid for the owner of the Chicago Tribune and Los Angeles Times.
H & R; Block Inc. still is in talks to sell its Irvine-based subprime lending unit but won't get a deal done this month as earlier hoped because of the sector's meltdown, the Kansas City-based tax preparer said Friday.
In the most serious admission yet of the extent of Dell Inc.'s financial woes, the company's internal audit committee said it has found a number of accounting errors and evidence of misconduct in its months-long review of previous earnings statements.
Consumers spent more in February while construction spending rose by the largest amount in 11 months, the government said Friday, in reports that should dispel some of the concerns about the health of the economy.
Shares of Irvine-based Impac Mortgage Holdings Inc. rose on Friday after the mortgage investor said its loans packaged as bonds found buyers in the first quarter.
Thursday, March 29
Shares of Anaheim-based circuit board maker Multi-Fineline Electronix fell more than 11% Thursday, a day after warning of slower sales to its biggest customer, slumping cellphone maker Motorola Inc.
Hitachi Ltd., Japan's biggest electronics conglomerate, said on Thursday its parent company has shored up struggling subsidiary Hitachi America with a $1 billion injection.
CarMax Inc., the largest retailer of used cars in the United States, posted a 15% rise in quarterly earnings on Thursday, helped by strong sales and Internet traffic.
Foothill Ranch-based teen clothing retailer Wet Seal Inc. said it sees higher same-store sales for March.
Qwest Communications International Inc., AT & T; Inc. and Verizon Inc. on Thursday were awarded the government's largest telecommunications contract ever, a 10-year deal worth up to $48 billion.
Shares of Aliso Viejo medical device maker SenoRx Inc. debuted Thursday, closing 12% above their twice-reduced asking price.
Wednesday, March 28
CoreValve Inc., a heart valve maker that moved from France to Irvine last year, has raised $33 million in a third round of venture funding.
Hewlett-Packard Co. said it had sued Taiwan computer maker Acer Inc. for patent infringement, pressuring Acer shares.
Bankrupt mortgage lender People's Choice Home Loan Inc. is looking to auction off the subprime home loans it owns, the company said in court filings this week.
Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that growing troubles in the market for risky mortgages thus far doesn't appear to be spreading to the overall economy but the situation bears close watching.
Beazer Homes USA Inc., the No. 6 U.S. home builder, said on Wednesday it received a request for documents from federal prosecutors in a probe relating to its mortgage business, sending its shares down as much as 11.8%.
Tuesday, March 27
Newport Beach-based Pacific Life Insurance Co. is selling three of its stock brokerages after nearly a year of negotiations.
Rising gasoline prices and stock market turbulence undermined consumer confidence in March, increasing worries about one of the economy's pillars, a widely watched index showed on Tuesday.
Lennar Corp., one of the nation's largest homebuilders, said Tuesday its first-quarter profit tumbled 73% on continued softness in the housing market made worse by problems with subprime lenders. Lennar also warned it doesn't expect to meet its 2007 earni
Prices of single-family homes across the nation depreciated in January compared to a year ago, the worst results in more than 13 years, a housing index released Tuesday by Standard & Poor's showed.
Orqis Medical Corp., a Lake Forest heart device maker, said Tuesday that it raised an additional $12 million as part of its fourth round of venture funding.
Seal Beach-based Clean Energy Fuels Inc., backed by legendary oilman T. Boone Pickens, has upped the size of its pending public offering to $345 million from $287.5 million, according to an updated federal filing.
Monday, March 26
HealthSouth Corp., the nation's largest rehabilitation services provider, said on Monday it has agreed to sell its surgery division to the privately held investment firm TPG for $945 million as it continues to focus on its inpatient rehabilitation hospita
A Tustin apartment complex sold for $43 million with one of the lowest expected return rates from rents
Hunter Barth has a new partner and a new name, in the Media & Marketing column
Fullerton-based Beckman Coulter Corp. is buying San Diego's Biosite Inc. for $1.5 billion, its biggest deal since predecessor Beckman Instruments Inc. bought Florida's Coulter Corp. a decade ago.
Fallout of Subprime Market Sees Banks, Hedge Funds Looking for Cheap Deals
Mission Hospital is the latest St. Joseph Health System hospital to join the construction race, in the Healthcare column
Dwight Decker, chief executive of Conexant Systems Inc., plans to retire again from the Newport Beach-based chipmaker this fall, the company said Monday. Decker, 57, will remain as non-executive chairman after a replacement is hired.
The price of an Orange County detached home rose slightly from January to February but still is down 3.9% from the median price seen a year ago, the California Association of Realtors said.
A federal judge in New York has ruled that French, English and Dutch citizens who bought Vivendi shares before the French media-to-telecom group neared bankruptcy in 2002 are allowed to join a U.S. class action against the company that was initiated by Vi
New Century's founders saw a stunning run earlier this decade,what's next for them now?
The second generation of family run swimsuit maker Raj Manufacturing Inc. of Tustin has led an investor-backed buyout of the company started by their parents 40 years ago.
Benihana in Anaheim goes modern with its new look, in the Executive Dining column
Preserving Mission San Juan Capistrano takes more than prayer
A local Mitchell Gold + Bob Williams furniture store is more than comfortable with some recent exposure, in the Marketplace column
OC's No. 9 in the country when it comes to projected subprime loan foreclosures, in the Real Estate column
Sales of new U.S. homes unexpectedly fell 3.9% in February to the lowest rate in nearly seven years while the number of new homes on the market grew, according to a government report on Monday that showed more signs of weakness in the housing sector.
The marriage of M-Flex and MFS Technology isn't dead after all
Get in touch with nature at the James and Rosemary Nix Nature Center in Laguna Beach, a Review
Pacific Life Insurance is selling three of its stock brokerages after almost a year of negotiations
The manufacturing and warehouse sector saw rising rents and sale prices, as well as historically low vacancy rates. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
A Q & A; with Prem Reddy discussing his pending buy of Anaheim Memorial Medical Center
Friday, March 23
Orange County's unemployment rate fell to 3.5% in February, the state Employment Development Department said Friday.
A Tustin apartment complex just sold for $43 million with one of the lowest expected return rates from rents seen here lately.
SenoRx Inc., an Aliso Viejo medical device maker, is poised to go public next week.
The pace of U.S. existing home sales rose an unexpected 3.9% in February to a 6.69 million-unit annual rate as mild weather spurred home buying, the National Association of Realtors said on Friday.
Mortgage finance giant Freddie Mac, emerging from an accounting scandal, reported Friday it lost $480 million in the fourth quarter as a result of moves in interest rates that hurt its business of guaranteeing home loans.
General Electric Co. said on Friday it would launch a $1.14 billion takeover bid for leasing firm Sanyo Electric Credit Co. to further expand into Japan's $68 billion leasing market.
Thursday, March 22
Congress should not bail out subprime lenders and brokers who made risky mortgage loans to borrowers with bad credit, but lawmakers can take several steps to protect consumers going forward, a representative of the Conference of State Bank Supervisors sai
ConAgra Foods Inc. earned $192.6 million in the third quarter despite a massive recall of all of its peanut butter products after they were linked to a salmonella outbreak, the company reported Thursday.
Countrywide's subprime mortgage defaults for 2006 loans may exceed the company's highest on record, a company executive told a government panel examining mortgage lending.
Private equity firm Blackstone Group LP filed with regulators on Thursday to sell a portion of the company for an initial public offering of around $4 billion of common units.
Allergan Inc. Chief Executive David Pyott saw a big payday in 2006, a year in which he oversaw a major acquisition that boosted the Irvine company in medical cosmetics.
A surprise drop in the number of new claims filed for jobless aid pointed to a healthy U.S. labor market, but a forward-looking measure of the economy showed momentum has slowed, data released on Thursday showed.
Irvine's New Century Financial Corp. has hired an adviser known for its work on corporate restructuring and bankruptcy cases.
Irvine-based New Century Financial Corp. said on Thursday it would see a $46 million loss from a deal it struck with Barclays PLC that released the subprime lender from buying back $900 million in loans.
Wednesday, March 21
Morgan Stanley posted a 60% jump in quarterly earnings on Wednesday, exceeding expectations on blowout results from debt and equity trading.
The U.S. Federal Reserve held interest rates steady on Wednesday and said it remained concerned about inflation, but dropped its reference to the possibility of pushing rates higher, leaving its options open.
U.S. mortgage applications fell last week for the first time in four weeks, reflecting a drop in demand for home refinancing even as interest rates hovered near recent lows, an industry trade group said on Wednesday.
Motorola Inc. warned on Wednesday it will post a first-quarter loss and cut its revenue forecast to far below Wall Street expectations due to weak cell phone sales, driving shares down nearly 6%.
Shu Li, who guided Newport Beach-based Jazz Semiconductor Inc. since its spinoff from Conexant Systems Inc. in 2002, has resigned from the company that was bought out and taken public less than a month ago.
The U.S. International Trade Commission today starts considering penalties against San Diego-based Qualcomm Inc. in a patent infringement case against Broadcom Corp. of Irvine.
Valeant Pharmaceuticals International, an Aliso Viejo drug maker, said Wednesday that Bary Bailey, its chief financial officer, resigned.
Santa Monica-based Fremont General Corp. said Wednesday that it's selling $4 billion of loans made by its shuttered Brea-based subprime mortgage division.
Caught between stubbornly elevated U.S. inflation and signs of weaker economic growth, the Federal Reserve is expected to hold interest rates steady as it wraps up a two-day policy-setting meeting on Wednesday.
Tuesday, March 20
The parent company of Irvine-based subprime lender People's Choice Financial Corp. has filed for Chapter 11 bankruptcy protection.
Irvine's New Century Financial Corp. no longer can sell mortgages to Fannie Mae, the nation's largest funder of home loans.
Construction of new homes rebounded in February after a big decline in the previous month, but building permits slid further, indicating more problems down the road for the troubled housing industry.
Edwards Lifesciences Corp. of Irvine said Tuesday the Food and Drug Administration cleared it to start a clinical study on a less-invasive heart valve.
Affiliated Computer Services Inc.'s founder Darwin Deason said on Tuesday he and investment fund Cerberus Capital Management have offered to buy the computer services company for about $5.9 billion.
Federal Reserve policy-makers opened a two-day meeting on Tuesday likely to feature discussions about rising mortgage defaults and softer economic growth, but no change in U.S. interest rates.
Treasury prices rose Tuesday, sending yields lower, as the Federal Reserve's two-day deliberation on interest rates got under way.
Orange-based subprime lender Ameriquest has ended its sponsorship of the home of baseball's Texas Rangers.
STEC Inc. chief technical officer and chief operating officer Mark Moshayedi was named president of the Santa Ana-based maker of flash memory products on Tuesday.
Monday, March 19
An Irvine eye device startup has backing from Bausch & Lomb
A sushi maker's looking to do about $60 million in sales this year, in the Small Business column
The Newport Beach office of NAI Capital's been closing some larger deals of late, in the Real Estate column
The world's top cellphone maker Nokia said on Monday it had filed complaints against Qualcomm patents in Germany and the Netherlands.
Alliance Imaging Inc., the Anaheim medical diagnostic services provider, said Monday a pair of investors bought a combined 49.7% stake in the company.
Beckman could be looking to buy or may be an acquisition target, according to an analyst, in the Healthcare column
2007 Excellence in Entrepreneurship Award - Bob Olson, CEO and founder of R.D. Olson Construction and R.D. Olson Development
2007 Excellence in Entrepreneurship Award - David Wilson, Owner, David Wilson Automotive Group
Medieval Times is a bit of Middle Ages pomp in kitschy Buena Park
North and Central OC's lease rates increased in the fourth quarter, while vacancy rates held steady. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
A group of Anaheim tourism businesses and community leaders called Save Our Anaheim Resort Area filed a ballot initiative Monday with the city of Anaheim that would give voters a say over changes to the Anaheim Resort District.
ServiceMaster Co., which owns TruGreen LawnCare and Terminix pest control, said on Monday that it had accepted a $4.7 billion takeover bid from a group led by private equity firm Clayton, Dubilier & Rice Inc.
A look at people, companies and institutions receiving awards, accolades, grants and other honors
Local.com is looking to turn things around and a Hearst Media unit is giving a helping hand, in the Technology column
The meltdown of Irvine subprime lender New Century Financial likely is the quickest and steepest downfall ever for an OC company. By Michael Lyster, Editor of the Business Journal
Apria's shares have seen a recent surge after the company beat back possible Medicare payment cuts
2007 Excellence in Entrepreneurship Award - Glenn Stearns, founder and chairman of Stearns Cos.
Valeant Pharmaceuticals found a buyer for its former headquarters in Costa Mesa
Triad Hospitals Inc. said on Monday it agreed to be bought by Community Health Systems Inc. for $5.1 billion, which Community said would create the biggest publicly traded U.S. hospital chain.
2007 Excellence in Entrepreneurship Award - Ralph Opacic, founder and head of Orange County High School of the Arts
Santa Monica-based Fremont General Corp. said Monday it's letting go a number of its 2,400 workers at its Brea-based subprime mortgage unit.
Fifi's latest travel adventure took her to Tucson, in the Executive Dining column
Western Digital is wading deeper into the consumer market with a line of storage devices that can be accessed anywhere
The subprime mortgage industry's sudden crash has created a standoff between office tenants and landlords
Friday, March 16
Accredited Home Lenders Holding Co., a big U.S. subprime lender hit by a cash squeeze, said on Friday it will sell $2.7 billion in loans, a move that buys it more time and sent its stock up 27 percent in early trading.
Santa Monica-based Fremont General Corp. said Friday it's lined up a $1 billion expanded credit line that should boost sale prospects for its shuttered Brea-based subprime mortgage business.
Private equity firm Blackstone Group is deep into preparations for an initial public offering of the entire firm, according to a report on Friday, a move that would be counter to the views of its CEO on the public markets.
Gateway Inc. Chief Executive Ed Coleman earned $2.7 million in his first quarter with the company, Securities and Exchange Commission documents show.
Shares of Anaheim retailer Pacific Sunwear of California Inc. had their best day in a while on Friday as Wall Street looked past a big profit drop and put faith in the company's turnaround efforts.
Caremark Rx Inc. shareholders on Friday approved a $24.3 billion takeover offer from drug-store chain CVS Corp., effectively ending a months-long takeover fight with Express Scripts Inc. for the rival pharmacy benefits manager.
Thursday, March 15
Orange-based mortgage lender Master Financial Inc. has stopped funding loans brought to it by brokers.
Bear Stearns Cos., Wall Street's largest underwriter of mortgage securities, on Thursday reported first-quarter profit rose 8% despite a challenging environment in the subprime lending sector.
Irvine's Broadcom Corp. appears near a settlement with rival chipmaker Qualcomm Inc., just days before trial was set to begin in San Diego.
Cisco Systems Inc. said Thursday that it has agreed to acquire the online meeting company WebEx Communications Inc. for about $3.2 billion in cash.
Inflation at the wholesale level surged in February, pushed higher by a big jump in energy prices and the largest increase in food costs in more than three years.
Orange-based ACC Capital Holdings Corp., which has been relatively quiet during the meltdown of Orange County rival New Century Financial Corp., said Thursday it's cutting jobs.
Irvine-based subprime lender People's Choice Financial Corp. has withdrawn plans for a $193 million public offering, the latest casualty of the tough market for Orange County's mortgage sector.
Wednesday, March 14
Shares of New Century Financial Corp. were officially booted from the New York Stock Exchange Wednesday and now trade on Pink Sheets, a haven for penny stocks.
U.S. builders are assessing their exposure to home buyers with weak credit histories amid a subprime mortgage lender meltdown, while one analyst estimated the figure at 8% to 15% of their business on average.
The deficit in the broadest measure of trade set a record for the fifth consecutive year even though the imbalance in the final three months of 2006 shrank, reflecting a lower foreign oil bill.
Irvine's BioLase Technology Inc., maker of lasers used in dentistry, swung to a profit in the fourth quarter on higher sales and lower costs.
Lehman Brothers Holdings Inc., the No. 4 U.S. investment house, said Wednesday robust trading and overseas expansion drove its first-quarter profit up 5.6%, matching Wall Street expectations.
The case against former Hewlett-Packard Co. chairman Patricia Dunn, who ultimately resigned amid a board-leak spying scandal, was dismissed on Wednesday.
Broadcom Corp., looking to distance itself from a stinging options backdating scandal, on Wednesday named Eric Brandt its chief financial officer.
H & R; Block Inc. shares dropped about 5% on Wednesday after the nation's largest tax preparer said it was boosting its third-quarter loss after cutting the value of a subprime mortgage subsidiary.
Tuesday, March 13
The median price of Orange County home rose by $20,000 from January to February, but dropped marginally from a year ago.
Irvine-based New Century Financial Corp.'s woes continued Tuesday with a stepped up investigation into stock trades and accounting errors and a pending delisting from the New York Stock Exchange.
Stocks plunged on Tuesday in their second-worst sell-off of the year as the impact of losses in the subprime mortgage group cascaded across the financial sector, knocking down shares of investment banks and traditional lenders.
Media conglomerate Viacom Inc. said on Tuesday that it was suing Google Inc. and its Internet video-sharing site YouTube for more than $1 billion over unauthorized use of its programming online.
General Motors Acceptance Corp., the former finance arm of General Motors Corp., on Tuesday said it would receive another $1 billion from GM and warned it would be hit by pressure from a weakening market for U.S. mortgages.
Maguire Properties Inc. said on Tuesday that the potential loss of key tenant New Century Financial Corp. would not be a major blow to the Los Angeles-based office landlord.
AT & T; Inc.said on Tuesday that it would spend more than $750 million in 2007 to expand its global communications network for corporate customers, an 89% rise from last year, as companies increasingly do business abroad.
Citigroup raised its offer for Nikko Cordial Corp. by 26% to $13.4 billion on Tuesday after a decision by the Tokyo Stock Exchange not to revoke the brokerage's listing sharply boosted its value.
Monday, March 12
A trio of local companies are seeing business from a housing project for the Air Force, in the Real Estate column
The former editor and others from Santa Ana's OC Weekly are starting an alternative weekly covering Long Beach.
An Irvine company has found a niche creating wireless and other networks for hospitals
Ingram Micro's first-quarter earnings could be adjusted because of a tax bill in Brazil, in the Technology column
PainePR scored a coup with one of its biggest clients, in the Media & Marketing column
A lack of technology in hospitals and doctors' offices could be a big boost for some local software companies, in the Healthcare column
Two local high school seniors won the Orange County Auto Dealers Association's automotive technician contest, in the Marketplace column
Bright Now's mixed two large deals with its own expansion to come up with a formula that's brought a smile to its chief executive
Panasonic Avionics has traded its Washington headquarters for Lake Forest
DINING DEALS - More Bang for Your Buck: Fifi Takes a Look at Some Dining Steals Local Restaurants Offer
Economic development and other activity in cities in and around OC, in Around the County
Countrywide Financial Corp., the largest U.S. mortgage lender, on Monday said it has low exposure to nonprime mortgages, but may still experience fluctuating earnings in the near term due to turmoil in the U.S. subprime market.
U.S. retail sales outside the auto sector firmed in February, but were restrained by the housing slump and rising gasoline prices, according to a report published Monday.
The subprime mortgage industry's meltdown has turned into a guessing game
Irvine-based subprime lender New Century Financial Corp. saw trading of its plummeting stock suspended on Monday, as the company said its lenders have or plan to halt financing.
Eyes are turning to a proposed development to renew the county's historical Korean enclave
A Newport Beach company has raised $7.1 million in funding to develop plans for a waste-to-energy plant
Ford Motor Co. has sold a majority, $848 million stake in Aston Martin, which has its U.S. headquarters in Irvine.
Irvine-based BB Dakota was a small maker of hip women's clothes,until nZania entered the picture
Vacancy levels for all types of space in south Orange County were in the single-digits. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
An Irvine developer is looking to turn a 10-story office building in Santa Ana into the county's first high-rise office condominium project
Ford Motor Co. is selling British luxury car maker Aston Martin to a group fronted by former Benetton and BAR motor racing boss David Richards in a deal worth $925 million.
A proposed regulation to rein in "pay-to-play" practices at the state's second largest public pension fund has stirred opposition
Something needs to be done about kids' math and science scores. Commentary by Mike Lefkowitz. president of The Semel Group, a consultant to businesses and nonprofits.
Health insurer UnitedHealth Group Inc. said on Monday it will acquire Sierra Health Services Inc. for more than $2.4 billion to expand in the fast-growing Las Vegas area and boost its Medicare business.
Five entrepreneurs were honored at the Business Journal's Excellence in Entrepreneurship Awards
Friday, March 9
Shares of embattled subprime lender New Century Financial Corp. opened down nearly 20% on Friday after analysts predicted the Irvine company soon would file for bankruptcy protection.
Losses at planemaker Airbus slashed 2006 operating profits at Franco-German parent EADS by 86% to $526 million, but the fall was cushioned by defense profits, the group said on Friday.
A second U.S. investment firm dismissed Citigroup's $10.8 billion buyout offer for Japanese brokerage Nikko Cordial Corp. as far too low, pressuring the U.S. bank to sweeten its bid.
Shares of Huntington Beach-based Quiksilver Inc. closed down nearly 10% on Friday, a day after the company warned about 2007 results and reported lower profits for the quarter ended Jan. 31.
The U.S. economy added a modest 97,000 jobs in February, the smallest gain in two years, but job growth in prior months was stronger than first thought and the unemployment rate dropped, the government said on Friday, easing fears over economic weakness.
Thursday, March 8
Warehouse retailer Costco Wholesale Corp. said Thursday its second-quarter profit declined 16% as costs grew faster than revenue.
The nation's retailers had a slow start to the spring season as unseasonably cold weather in February chilled demand for lightweight apparel and left merchants with disappointing sales. The slowing economy, particularly the weakening housing market, could
The number of laid-off workers filing claims for unemployment benefits declined last week, providing a slight break from a recent rise in layoffs.
Anaheim-based teen retailer Pacific Sunwear of California Inc. reported a worse than expected fall in February sales at stores open at least a year.
David Einhorn, president of New York-based activist hedge fund operator Greenlight Capital Inc., has resigned as a director of Irvine-based New Century Financial Corp.
A federal jury has ruled that two former executives of Irvine-based computer maker Gateway Inc. manipulated earnings so that it would appear the company met Wall Street expectations.
Embattled subprime lender New Century Financial Corp. said on Thursday it has stopped making loans, effective immediately.
Wednesday, March 7
Citigroup's $10.8 billion tender offer to buy Nikko Cordial Corp. looks just sweet enough to convince investors in the Japanese brokerage to sell, analysts said on Wednesday.
Express Scripts Inc. announced Wednesday it has increased its bid to acquire Caremark Rx Inc., but company officials said they expect closer scrutiny from federal regulators over the proposed deal.
Auto-parts maker Delphi Corp. announced late Wednesday that it will issue almost $2 billion worth of common stock to existing shareholders as a key step toward funding its emergence from bankruptcy.
U.S. private employers likely added 57,000 new jobs in February, about half of what economists had expected, according to a report released on Wednesday, indicating weakness in the labor market and a slowing economy.
Shares of Santa Ana-based title insurer First American Corp. rose more than 3% in early trading Wednesday on an upgrade from Lehman Brothers.
Foothill Ranch-based aluminum parts maker Kaiser Aluminum Corp., which emerged from four years under bankruptcy organization in July, posted big gains for the fourth quarter.
U.S. consumer credit rose $6.44 billion in January as growth in closed-end consumer loans for cars, holidays and other big-ticket items outstripped slower growth in credit card usage, a Federal Reserve report showed on Wednesday.
Mortgage applications jumped last week as borrowers emerged in droves to refinance existing home loans as interest rates fell to their lowest level since early December, an industry trade group said on Wednesday.
Santa Monica-based Fremont General Corp. is in talks with "five or six companies" interested in buying its troubled Brea-based subprime mortgage business, the Santa Monica company said Wednesday.
Tuesday, March 6
The county's Asian supermarket sector, led by Buena Park-based Tawa Supermarkets Inc. and its 99 Ranch stores, is getting a big new player. A 25,000-square-foot H Mart, owned by Woodside, N.Y.-based Hanahreum Group, is set to open by year's end at a shopp
Citigroup bid $10.8 billion for Japan's scandal-hit Nikko Cordial Corp. on Tuesday, hoping to secure its biggest Asian deal and mark its resurgence in the world's second-biggest economy.
The Topps Co., maker of baseball cards and Bazooka bubble gum, said Tuesday it accepted a $385.4 million takeover offer from a buyout group that includes former Disney CEO Michael Eisner, but the deal drew immediate opposition from one of its own board me
Bausch & Lomb, which has been struggling to recover from a sweeping recall of its ReNu with MoistureLoc contact lens solution, said on Tuesday it had initiated a recall of certain lots of its ReNu MultiPlus contact lens solution.
Foothill Ranch-based aluminum parts maker Kaiser Aluminum Corp. said it won a five-year contract to supply aluminum plate and sheet to Canada's Bombardier Inc.
Monday, March 5
San Diego Led California in Hotel Construction Last Year
The pace of growth in the U.S. service sector posted a surprisingly sharp fall in February, retreating from January's eight-month high as new orders and prices paid declined, according to a report released on Monday.
Great Atlantic & Pacific Tea Co. said on Monday that it plans to buy rival grocer Pathmark Stores Inc. for $678.6 million, creating a larger company to compete in the U.S. Northeast.
German Exec Loves Mercedes, OC; It's Been 10 Years
Brea-based subprime mortgage lender ResMae Mortgage Corp. on Monday said another bidder, Citadel Investment Group LLC, beat out Credit Suisse Group with a $180 million bid for the company.
The market for Asian grocers is getting more competitive with an H Mart store planned in Irvine
Kaiser Permanente's new hospital in Irvine is the first built here since 1990
Bangkok Four in South Coast Plaza has been replaced with Hamamori, in the Executive Dining column
Chapman University is moving ahead on redeveloping a historic produce packing plant
Billionaire hedge fund trader George Soros has bought into teen retailer Wet Seal
The rivalry between QLogic and Emulex isn't as close as it used to be
A new high school is looking to help businesses fill a void with its trained vocational graduates
Irvine-based New Century Financial Corp. saw its stock plunge 70% in trading Monday, with analysts predicting a possible liquidation or bankruptcy for the struggling subprime mortgage lender.
Irvine-based Impac Mortgage Holdings Inc. saw its stock drop nearly 25% in trading on Monday, the latest casualty of Orange County's struggling subprime mortgage industry.
Private equity firm Blackstone said on Monday it was buying Madame Tussauds waxworks owner Tussauds group for $1.92 billion.
Los Angeles-based landlord Maguire Properties Inc., fresh off one of the biggest local office buys in years, isn't done dealing in Orange County.
H & R; Block Inc. expects to sell Irvine-based subprime mortgage lender Option One Mortgage Corp. by the end of March for $1.3 billion
A chip startup is going after the market for watching TV on phones and other handhelds
Buyers continue to push the envelope when it comes to acquiring industrial, office and retail buildings in Orange County.
The airport area had tight vacancy in the fourth quarter. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Al Punto Advertising is battling for work and looking to hire some more, in the Media & Marketing column
Autobytel is looking to a new site, MyRide.com, as a turning point from its past, in the Marketplace column
ABOUT THE LIST - Decrease in Resales of Properties, Fewer Refinancing Deals Led to Drop in Title Insurers' Work
Conexant isn't walking away from Jazz entirely now that Acquicor's in the picture, in the Technology column
A look at people, companies and institutions receiving awards, accolades, grants and other honors
Advanced Medical's pending acquisitions are part of its eye laser push, in the Healthcare column
The Irvine Company could look to raise rents once it closes its deal for the former Equity buildings in San Diego
InfoSend does the dirty work of bill processing, in the Small Business column,
The governor's health reform plan is bold,and pricey. Viewpoint by Glenn A. Melnick, professor and Blue Cross of California Chair in Healthcare Finance at USC.
A truth about the local housing market? It varies by city, in the Real Estate column
Memory products maker Kingston Technology Co. last week reported record sales of $3.4 billion for 2006, a 13% jump from the previous year.
Medical scanning provider InSight is offering creditors nearly all of its shares in exchange for forgiving the company's debt
Friday, March 2
Hospitals across Orange County are expanding, adding patient towers and other facilities as part of a building boom. Then there's Kaiser Permanente.
UnitedHealth Group Inc. said on Friday it expects to become current with its U.S. financial filings by March 15, which would be a major step as it seeks to recover from a stock options scandal.
Dell Inc.'s fourth-quarter profits plunged 33% because of weak sales of laptops and notebooks, and the computer maker still faces an unresolved federal accounting probe, customer service complaints, several shareholder lawsuits and stiff competition from
One of Orange County's great rivalries isn't as close as it used to be. Aliso Viejo-based QLogic Corp. has upped its lead over Costa Mesa's Emulex Corp. in a piece of profitable electronics used in data storage networks.
Google Inc. disclosed in its 2006 annual report on Thursday that the U.S. Securities and Exchange Commission nearly a year ago had called into question how it accounted for income taxes.
Thursday, March 1
U.S. incomes rose much more sharply than expected in January, while spending and core consumer price growth also outpaced forecasts, according to a government report on Thursday that could heighten inflation concerns at the Federal Reserve.
Irvine-based eye surgery laser maker IntraLase Corp., which is being bought by Santa Ana's Advanced Medical Optics for $800 million, saw a surge in fourth-quarter sales, while profits were boosted by a tax issue.
Irvine-based mortgage lender New Century Financial Corp. on Thursday said it was cutting 300 jobs, including 124 positions in Orange County.
Profits and revenues for First American Corp. continued to slide in the fourth quarter, a result of the slowing national housing market and a big decline in title insurance business, the Santa Ana-based company said on Thursday.
The European Commission warned Microsoft Corp. on Thursday it faced further fines in its long-running antitrust battle with Brussels, this time for seeking unreasonable prices from software makers for vital data.
At least one mortgage company is looking to hire in Orange County. EMC Mortgage Corp., a Lewisville, Texas-based company that buys and services residential mortgages, said it would open a site on Alton Parkway in Irvine this May.
Oracle Corp., the largest database software maker, said on Thursday it would buy Hyperion Solutions Corp. for $3.3 billion to boost its position in the fast-growing market for performance management software.