Stories for March 2009
Tuesday, March 31
Prices of single-family homes in January plunged a record 19% from a year earlier, showing a housing market that is still in the throes of a deep recession, according to a Standard & Poor's/Case-Shiller report on Tuesday.
The Los Angeles Angels of Anaheim have carved out some prime field seats at Angel Stadium of Anaheim as the baseball team battles tough sales of season tickets.
General Motors Corp. and Ford Motor Co. announced a new series of incentives covering payments if customers lose their jobs, joining rivals in offering heavy discounts to attract consumers sidelined by the recession.
The Anaheim Arsenal, an NBA Developement League basketball team that's played at the Anaheim Convention Center since 2006, is moving to Massachusetts later this year.
LensX Lasers Inc., an Aliso Viejo company that makes laser devices for cataract surgery, has raised $22.36 million in a second round of funding, according to a Securities and Exchange Commission filing.
The Sun-Times Media Group, parent of the Chicago Sun-Times, filed for bankruptcy protection on Tuesday, earning Chicago the distinction of being the first U.S. city served by two bankrupt newspaper publishers.
Monday, March 30
Oil fell over $2 on Monday, briefly dipping below $50 a barrel for the first time since March 19, pressured by a stronger U.S. dollar and a slump on global stock markets.
A local subprime lender is one of the rare success stories in its industry
Canadian, Dane, German Walk Into a Bar ... Design New Car
A big accounting firm is relocating its headquarters to Brea from Los Angeles, in the Real Estate column
Cinkle: Staffing Agency Grew Out of Own Frustration
Sales of vacation and investment homes in the U.S. slipped to 30% of all transactions of existing and new homes in 2008, the National Association of Realtors said on Monday.
Obama's lifting of the ban on stem cell research will open up career paths for medical students, in the Healthcare column
Gough: Called on Political Allies to Fund OC Business Bank
The Angels are battling with slow ticket sales with some new, prime seats
A local juice maker has landed its pouches in two big supermarkets, in the Small Business column
The down economy has hit the local research and development market, in Real Estate Watch
Newport Beach-based Urban Decay Cosmetics LLC, a maker of edgy cosmetics, has been acquired by a private equity firm.
Saccacio: Dedication, Timing Pushed RealtyTrac Growth
Turned $2,000 Into $1 Billion Software Maker
President Barack Obama seized the wheel of the failing auto industry on Monday, forcing out General Motors Corp's chief executive, pushing Chrysler LLC toward a merger and threatening bankruptcy for both.
California Pacific, headed by Donald Bren's son, may be winding down its operations
A local franchisee plans to open five Einstein Bros. bagel stores in OC in the next five years, in the Marketplace column
Grubb & Ellis wants to raise $3 billion in a new healthcare offering
Lake Forest-based disk drive maker Western Digital Corp. said Monday it's entering the market for a new type of drive that's gained headway in corporate networks with its $65 million buy of Aliso Viejo's SiliconSystems Inc.
MSC.Software has seen a lot of recent changes in its upper ranks, in the Technology column
Shares of Costa Mesa's Emulex Corp., a maker of electronics for data storage networks, fell Monday after an analyst downgraded the stock.
Wienerschnitzel is moving up its chili dog ad campaign to combat competition from Carl's Jr., in the Media & Marketing column
Nick Unplugged: New Image Stresses Business Deals, Charitable Work
Friday, March 27
Drug maker Allergan Inc. is paying $22 million to buy another office building next to its sprawling Irvine campus.
KB Home posted a quarterly loss that was not as bad as Wall Street expected as the builder took a smaller charge to write down the value of its land-holdings, sending its shares up more than 6%.
Clarient Inc., an Aliso Viejo-based cancer diagnostics company, said it would raise up to $50 million through a private placement of its stock with Oak Investment Partners, a Westport, Conn.-based venture capital firm.
Stocks fell on Friday as investors booked profits following a recent rapid surge, while the energy sector dropped along with the price of oil.
Consumer spending rose for a second straight month in February, while incomes reversed the previous month's gains, government data showed on Friday.
Irvine's Blizzard Entertainment Inc., the top maker of online video games played by millions around the world, has a new title in the works.
Thursday, March 26
Foothill Ranch-based mall retailer Wet Seal Inc. reported a quarterly profit that beat expectations Thursday and offered an outlook for the current quarter in line with Wall Street expectations.
Treasury Secretary Timothy Geithner said sweeping new "rules of the game" are required to make sure the financial system is regulated tightly enough that it cannot again threaten the entire economy.
Fountain Valley-based Kingston Technology Co. is considering investing in a struggling Japanese maker of memory chips, according to reports.
The economy shrank at its fastest pace since 1982 in the fourth quarter and corporate profits plunged a record $120.1 billion, pulled down by falling consumer spending and exports, government data showed on Thursday.
A colorful trio of local technology veterans has teamed up to make software for Apple Inc.'s iPhone.
Bond giant Pacific Investment Management Co. said the Federal Reserve needs to double its balance sheet up to $6 trillion to replace the amount of wealth destroyed in the United States, an executive said on Thursday.
Wednesday, March 25
The price of an existing Orange County home rose more than $10,000 in February from a month ago, the California Association of Realtors said on Wednesday.
Bank of America Corp. Chief Executive Kenneth Lewis said the largest bank wants to start repaying $45 billion of federal bailout money next month, after completing a government stress test, the Los Angeles Times reported on Wednesday.
New orders for long-lasting U.S. made goods rose in February for the first time in seven months and new home sales rebounded, government reports showed on Wednesday, suggesting the economic downturn might be easing a bit.
Mortgage applications jumped last week as record low interest rates spurred a surge in demand for home refinancing loans, data from an industry group showed on Wednesday.
Allergan Inc., which saw its shares surge Tuesday on takeover speculation, is looking for acquisitions of its own, Chief Executive David Pyott told Bloomberg.
The takeover speculation that hit Irvine's Allergan Inc. on Tuesday moved to Fullerton-based medical diagnostic company Beckman Coulter Inc. on Wednesday.
Tuesday, March 24
Treasury Secretary Timothy Geithner told an angry Congress on Tuesday that he needs authority to step in to shut down troubled institutions like American International Group to avoid future government bailouts.
Baja Fresh Mexican Grill, the healthful Mexican restaurant chain, has officially moved its corporate headquarters from Thousand Oaks to Cypress.
Shares of Irvine-based Allergan Inc. surged Tuesday on speculation the drug maker could be bought.
Toyota Motor Corp. said Tuesday its global production plunged by nearly half in February from a year earlier, while Honda and Nissan reported similarly grim figures highlighting the woes facing Japanese automakers.
A government report says home prices fell 6.3% in January from the same month last year. The Federal Housing Finance Agency says prices, on a seasonally adjusted basis, rose 1.7% from December to January.
Sales at Orange County auto dealers fell faster than the national yearly average in February but did slightly better than the rest of the country in the past three months, according to the Orange County Automobile Dealers Association, an industry trade gr
Monday, March 23
Obama Draws Some Consultants; OCBJ Draws Entrepreneurs
How Obama's lifting of a ban on funding for embryonic stem cell research affects local companies
India and the Middle East are proving to be lands of opportunity for Powerwave
Local manufacturing and warehouse vacancy is up, but the market should get better, in Real Estate Watch
Alliance HealthCare thinks tough economic times could be a boon to its business, in the Healthcare column
Suncor Energy Inc. has agreed to buy rival Petro-Canada to create Canada's largest oil company, as the pair seek to tackle tough conditions in the oil sands industry by slashing costs.
A colorful trio of local tech veterans has teamed up to make software for Apple iPhone
Australia's Rip Curl is looking to grow its U.S. business with its base in Costa Mesa, in the Apparel column
Quest Software's long stock options ordeal finally has come to a close, in the Technology column
The NAMM Show, a musical instruments trade show that's the largest convention held in Anaheim, has signed up to stay in the city through 2013.
Chapman's president talks about how he uses his background in economics to run the university, in Viewpoint
A look at how the city of Lake Forest is trying to attract businesses and ready itself for future residents
The Treasury Department on Monday rolled out detailed plans for persuading private investors to help rid banks of up to $1 trillion in toxic assets that are seen as a roadblock to economic recovery.
Irvine's SmartReply Inc., which creates marketing campaigns for retailers, said Monday it bought San Francisco-based mSnap Inc., which runs a network for mobile advertising via text messaging.
Sales of previously owned homes rose at their fastest pace in nearly six years in February, data showed on Monday, providing some good news for the recession hit-economy.
Oracle Corp. is buying Irvine's Relsys International Inc., a maker of software for drug makers.
Von Karman Avenue is lined with empty industrial buildings
The National Human Resources Association honored some local executives
Bill Gross, the manager of the world's largest bond fund, gave the Obama administration's financial stability effort a much-needed endorsement on Monday, saying Pimco will participate in the public-private plan.
One local office building has seen an uptick in business recently, in the Real Estate column
It's easy to tell it's not yet business as usual at bankrupt John Laing Homes
Casanova Pendrill is helping UNICEF and its clean water project, in the Media & Marketing column
Friday, March 20
Santa Ana's Ingram Micro Inc., the biggest distributor of technology products, software and consumer electronics, is set to shutter some of its Scandinavian operations as part of efforts to cut costs and boost profits.
Chrysler LLC said on Friday proposed partner Fiat SpA would not assume any of its debt if it takes an equity stake in the automaker.
Orange County's job losses continued at an accelerated pace in February as employers here cut 72,300 workers versus a year earlier, surpassing January's stunning 64,600 layoffs.
Citigroup Inc., in a significant management shake-up, named Gary Crittenden to run a unit housing underperforming and toxic assets the bank wants to get rid of, and tapped Edward Kelly to replace him as chief financial officer.
Xerox Corp. chopped its first-quarter earnings forecast by as much as 85%, as the slowdown in office equipment spending badly hurt revenue and thwarted its cost-cutting efforts.
Thursday, March 19
The Treasury Department on Thursday pledged to provide up to $5 billion in financing support to auto suppliers to help them survive a massive downturn in car sales.
Local Lennar Corp. executive Emile Haddad could be tapped to run a new company that would oversee the assets of LandSource Communities Development LLC if they are acquired out of bankruptcy by the Miami-based homebuilder and others, the Wall Street Journa
Irvine-based heart valve maker Edwards Lifesciences Corp. said Thursday that a German court determined that it didn't infringe on a patent held by Cook Inc.
Fullerton-based Beckman Coulter Inc.'s stock rose Thursday after an analyst upgraded it because of recurring revenue and its $800 million deal for Olympus Corp.'s diagnostic business.
Package delivery giant and U.S. economic bellwether FedEx Corp said on Thursday it was taking market share despite a recession that drove its profit down 75%, and its shares jumped.
Cortex Pharmaceuticals Inc., a small Irvine drug maker with roots in research from the University of California, Irvine, said Thursday that it cut half its workforce as part of a restructuring.
Wal-Mart Stores Inc. is awarding approximately $2 billion to its U.S. hourly employees through financial incentives, including handing out $933.6 million in bonuses on Thursday, after the world's largest retailer gained market share amid a recession.
Wednesday, March 18
InstaMed Inc., a healthcare payment processing company with offices in Newport Beach and Philadelphia, said it has raised $6 million in equity financing.
The American International Group bonus payment debacle could not have come at a worse time for a government that desperately needs to attract up to $2 trillion of private capital for its latest efforts to repair a crippled financial system.
A steep decline in cash flow at the parent company of the Orange County Register drove a further decline into junk status for the debt of Irvine-based Freedom Communications Inc.
The long-predicted competition for Botox, the blockbuster wrinkle remover from Irvine-based Allergan Inc., is looming.
The Business Journal honored seven entrepreneurs,six of whom are beating the odds in industries especially hurt by the recession,at its eighth annual Excellence in Entrepreneurship Awards on Wednesday.
IBM is in talks to buy Sun Microsystems Inc., sources with knowledge of the matter said, a move that could bolster the technology giant against rivals in the high-end computer server market.
Inflation rose in February on higher gasoline and apparel prices, government data showed on Wednesday, pointing to some pricing power in the recession-hit economy and easing fears of deflation for now.
Shares of Newport Beach chipmaker Mindspeed Technologies Inc. jumped Wednesday after the company restated its sales outlook for the current quarter.
Tuesday, March 17
New housing starts and permits unexpectedly rebounded in February, according to data on Tuesday that provided a rare dose of good news for the recession-hit economy and fractured housing market.
Orange County's median home price inched up $5,000 in February, the first month-over-month increase in prices seen here since last June.
Bill Thompson, the former chief executive of Newport Beach bond fund manager Pacific Investment Management Co., has been nominated to serve as a director on Citigroup Inc.'s board.
Kingston Technology Co. and other makers of memory products may be turning a corner after a tough 2008.
A Democratic congressman said on Tuesday he has introduced a bill that would slap a 60% surtax on large bonuses to be paid to executives at bailed-out insurer American International Group Inc.
Bankrupt Lehman Brothers Holdings Inc. is auctioning a thrift and an industrial bank it owns, and the process is in the early stages, a source familiar with the matter said on Monday.
Monday, March 16
A medical trade group is calling for its device maker members to adopt voluntary advertising guidelines, in the Healthcare column
Irvine-based Fisker Automotive Inc., the maker of hybrid electric sports cars, has raised $3.5 million, bringing its total raised to $94 million.
Industrial output fell to its lowest level in almost seven years in February and manufacturing in New York state slumped further this month, according to data on Monday that pointed to a worsening economy.
A look at what went into Lindora's recent launch of weight loss kits in Rite Aid stores
Saab of OC sees a possible separation from General Motors as a good thing, in the Marketplace column
A local direct mail company has doubled its size with an acquisition, in the Small Business column
Chief Executive Officer Michael Haynes of Santa Ana-based Collectors Universe Inc. is set to step down from the company effective April 1.
Treasury Secretary Timothy Geithner will soon propose an overhaul of the financial regulatory system that is expected to give the Federal Reserve powers to monitor broad economic risks, a Treasury spokesman confirmed on Monday.
Federal Reserve Chairman Ben Bernanke suggested in a taped interview on Sunday that the recession could last most of the year and said the biggest risk was that the political will needed to fix the fractured financial system could be lacking.
The Central and North County commercial real estate markets felt the brunt of the recession, in Real Estate Watch
A local owner of senior housing and other medical buildings is pulling back from buying property
Newport Beach billionaire Igor Olenicoff is in the middle of a brewing global firestorm surrounding Switzerland's secretive banking system
An Irvine maker of skincare products is planning to spend about $50 million on marketing this year
Kingston and other makers of memory products may be turning a corner after a tough 2008
Healthcare Cos. Attracting Big Buyouts, Set to Continue
Deal Volume, Value Dropped in '08, Small Buyers Active
A San Diego court on Monday dismissed a complaint by Irvine-based Broadcom Corp. against rival Qualcomm Inc. in the two chipmakers' ongoing battles over cell phone chip patents.
STEC filled the board seat left by Microsemi Chief Executive Jim Peterson, in the Technology column
The Orange County Register has brought back a favorite son, in the Media & Marketing column
Tech Companies Sit on Cash As Cushion, Wait for Bottom
The county's largest women-owned businesses saw their first down year since 2001
A Q & A; with retired healthcare exec Larry Higby, now the chairman of New Majority's statewide operation
An economist laments that the California's "business as usual" policy isn't going to solve its budget woes, in Viewpoint
It's been a tough few weeks for one Irvine-based apartment owner, in the Real Estate column
Friday, March 13
Consumers' mood grew less grim in March, according to a survey released on Friday, while the latest figures showed the trade deficit narrowed in January to its smallest in more than six years.
Premier Wen Jiabao held out the prospect of extra stimulus spending if needed to hit China's 8% growth goal this year and called on Washington to ease worries Beijing has about the safety of its vast U.S. assets.
Santa Ana-based MSC.Software Corp., a maker of simulation software for manufacturers, aerospace and defense contractors, landed a temporary chief executive officer after a sudden shakeup in its executive ranks.
Aliso Viejo-based Quest Software Inc.'s long stock options ordeal has finally come to a close.
A judge said he expects to rule by the end of next week on whether the names of top bonus recipients at Merrill Lynch & Co. should remain confidential.
Thursday, March 12
Huntington Beach-based Quiksilver Inc. has hired boutique investment bank Peter J. Solomon & Co. to help raise money or to find an investor in the struggling clothing maker, according to Reuters.
Unemployment will approach 10% as the country endures its worst recession since World War Two, leaving more than 13 million Americans jobless, according to a Reuters poll of economists.
Standard & Poor's stripped General Electric Co. of its AAA credit rating, citing the performance of its finance unit and dealing a new blow to one of the world's biggest manufacturing companies, but its shares rose 11% as investors feared the cut would be
Roche Holding AG has struck a deal with Genentech Inc to buy all outstanding shares for $46.8 billion, or $95 each, ending a long pursuit of the U.S. biotech group and its lucrative cancer drugs.
Shares of Santa Ana's STEC Inc., which makes flash memory drives for corporate and industrial uses, soared Thursday after the company gave an outlook for the current quarter that beat Wall Street's expectations.
Anaheim-based mall retailer Pacific Sunwear of California Inc. reported a better-than-expected loss for the three months through January and said it projects a loss for the current quarter in line with what Wall Street expects.
Wednesday, March 11
Orange County's billionaires lost a combined $5.8 billion of wealth since September, according to Forbes Magazine.
Huntington Beach-based Quiksilver Inc. said it got a two month reprieve on a $70 million European line of credit based on what could be the pending sale of its DC Shoes brand.
South Korean regulators have charged Qualcomm Inc. with unfair trade practices in a case related to the San Diego-based chipmaker's long running dispute with Irvine's Broadcom Corp.
One of the owners of Lamborghini Orange County, which abruptly closed in November, has agreed to plead guilty to charges he defrauded the finance arm of Volkswagen AG, owner of the Italian sports car maker.
Tuesday, March 10
Citigroup Inc. was profitable in the first two months of 2009 and is confident about its capital strength, Chief Executive Vikram Pandit said, easing concerns about the troubled bank's survival prospects.
Enclarity Inc., an Aliso Viejo-based company that makes software used by healthcare payers, said Tuesday that it's received $5.5 million of third-round venture capital funding.
Huntington Beach-based Quiksilver Inc. has a lot riding on its financial results due Wednesday.
United Technologies Corp. cut its 2009 profit target by about 13% and said it would eliminate 11,600 jobs as it no longer anticipates an economic recovery this year.
Stocks rose sharply on Tuesday as Citigroup's reassurances on its performance and Washington's efforts to tackle the economic slide made investors optimistic.
An investment firm backed by Roy Disney is urging directors of Santa Ana-based Collectors Universe Inc. to put the collectibles authenticator up for sale.
Monday, March 9
Top 10 Office, Industrial, Retail, Apartment Deals Valued at 30% Less than 2007 Transactions
Prolific Prof Pumps UCI Law Ranking; McKnight Surfs On
If things go well for Maguire, the landlord could be at the center of the biggest deal this year
President Barack Obama lifted some restrictions on federal funding of human embryonic stem cell research on Monday, angering many abortion opponents but cheering those who believe the study could produce treatments for many diseases.
Some Hotels in Danger of Foreclosing, Tough Financing
True Games Interactive is readying its first multiplayer online game, in the Technology column
Merck & Co. Inc. said on Monday that it would acquire Schering-Plough Corp for $41.1 billion, uniting the makers of cholesterol drugs Zetia and Vytorin in the second megadeal for Big Pharma in weeks.
Development fees in the Irvine Business Complex are going down, in the Real Estate column
A look at people, companies and institutions receiving awards, accolades, grants and other honors
The sticking point for local bankers with TARP money is finding loans to make
A reader wants to know if human decency recently got run over by the "It's all about me" crowd. PLUS: Mortgage Tax Credit
Santa Ana's AMG-SIU is in a good place in bad times
Hotel Sales Dropped Last Year, Dollar Volume Tanked by 60%
A well-funded Swiss chip startup has shifted its headquarters to OC
Is your company one of the best to work for in OC?
Two OC real estate companies have combined with counterparts here and in Arizona.
Beckman is making its biggest acquisition since 1997
Two local agencies will be handling marketing for Villeroy Boch's bath and wellness division, in the Media & Marketing column
The airport area's commercial market felt the brunt of the economy in the fourth quarter but also showed some resilience, in Real Estate Watch
Warren Buffett said on Monday the economy had "fallen off a cliff" but would eventually recover, although a rebound could kindle inflation worse than that experienced in the late 1970s.
A well-funded Swiss chip startup has shifted its headquarters to Orange County.
The president of Vans Inc. has taken on an additional title, in the Apparel column
Aliso Viejo's Quest Software Inc., a maker of business software, is set to buy back some of its shares for the second time in a few months.
Hyundai's assurance program may be spurring sales, in the Marketplace column
Kingston Technology Co., the Fountain Valley-based maker of memory products for computers and consumer electronics, saw a decline in yearly sales last year for the first time in half a decade.
Wall Street and others are continuing to weigh in on Medtronic's CoreValve buy, in the Healthcare column
Friday, March 6
U.S. prosecutors will file a criminal "information" in their case against accused swindler Bernard Madoff if he waives an indictment, a court document said on Friday.
Prosecutors will file a criminal "information" in their case against accused swindler Bernard Madoff if he waives an indictment, a court document said on Friday.
Irvine-based Standard Pacific Corp. saw its credit rating fall further into junk bond status Friday as Moody's Corp. cut its ratings for the homebuilder.
Shares of Santa Ana-based Fuel Systems Solutions Inc., Orange County's strongest major stock in 2008, plunged Friday, a day after the company reported a big profit drop and warned about 2009 results.
Cypress-based Mitsubishi Motors North America Inc. has closed its Mitsubishi Research and Design of America office and design center in Cypress.
The unemployment rate hit a 25-year high of 8.1% last month as employers buckling under the strain of a severe recession axed 651,000 jobs, government data showed on Friday.
Wells Fargo & Co. slashed its dividend 85% on Friday, a widely expected move the fourth-largest bank said will save $5 billion a year.
Shares of Seal Beach-based Clean Energy Fuels Corp., a provider of natural gas for trucks, were higher Friday after the company reported a smaller loss that beat expectations.
Thursday, March 5
Top retailers saw anemic same-store sales in February as shoppers kept a tight hold on spending, but Wal-Mart Stores Inc. again beat expectations and said lower gasoline prices had relaxed some household budgets.
Orange County's yearly job losses spiked in January and unemployment topped annual averages seen during the early 1990s recession.
Shares of Microsemi Corp., the Irvine-based maker of chips for military and industrial uses, slumped Thursday after an analyst cut his estimates on the stock and lowered his profit expectations.
February sales at Foothill Ranch-based mall store operator Wet Seal Inc. did better than analysts expected as lower prices and shifts in clothes helped results.
About one in every eight households, a record share, ended 2008 behind on their mortgage payments or in the foreclosure process as job losses intensified a housing crisis spawned by lax lending practices, the Mortgage Bankers Association said on Thursday.
General Motors Corp. on Thursday said its auditors had raised "substantial doubt" about its ability to survive outside bankruptcy if it fails to stem its losses and stop burning cash.
More than a dozen affiliates of Irvine-based apartment investor Bethany Group LLC filed for Chapter 11 bankruptcy protection Thursday.
Wednesday, March 4
Newport Beach-based homebuilder William Lyon Homes Inc. on Wednesday reported a $23.2 million loss for the fourth quarter, about $163 million less than it lost a year earlier.
Costco Wholesale Corp. posted a lower profit as it slashed prices aggressively to win market share, while smaller rival BJ's Wholesale Club Inc. topped Wall Street expectations by luring shoppers with fresh food and prepared meals.
The Obama administration on Wednesday gave lenders a green light to begin modifying home mortgages under a new $75 billion program aimed primarily at people facing imminent financial hardship.
The service sector shrank further in February but by less than expected, according to a report released on Wednesday.
Fountain Valley-based Memorial Health Services said Wednesday that it is selling its 224-bed Anaheim Memorial Medical Center to AHMC Healthcare Inc. of Alhambra.
Tuesday, March 3
The Federal Reserve and Treasury on Tuesday extended a new securities loan program to include equipment and vehicle fleet leases and said a future expansion to $1 trillion may also include some of the riskier mortgage and debt securities now plaguing bank
Aliso Viejo-based Networks In Motion Inc., a maker navigation and local search software for mobile devices, said Tuesday it bought some assets from TrafficGauge Inc., a Seattle-based maker of software for real-time traffic.
Federal Reserve Chairman Ben Bernanke on Tuesday urged bold action action to pull the economy out of a deepening slump, even if it means a surge in government debt.
Irvine medical device maker Masimo Corp. on Tuesday reported a fourth-quarter profit before taxes that beat Wall Street's expectations.
Shares of Sun Healthcare Group Inc., an Irvine operator of nursing homes and other businesses, rose Tuesday on fourth-quarter results that beat Wall Street expectations.
Fountain Valley-based Hyundai Motor America Inc. and sister company Kia Motor America Inc. of Irvine fared better than most automakers again in February.
Pending sales of existing homes fell sharply in January, with the index dropping to a record low, according to a report on Tuesday that showed the deteriorating economy was keeping buyers on the sidelines.
Monday, March 2
Masimo Corp.'s chief executive is singing the gospel of recurring revenue, in the Healthcare column
Southwest Airlines has hired Wunderman as its agency of record for its frequent flier program, in the Media & Marketing column
Freddie Mac on Monday said Chief Executive Officer David Moffett is quitting just six months after being named to the post as the government forced the No. 2 mortgage finance company into conservatorship.
Stocks slid on Monday in a broad sell-off as a record $61.7 billion quarterly loss at embattled insurer American International Group fueled fears that the global financial crisis is spiraling widely.
A look at nursery item maker CoCaLo after its sale to Russ Berrie, in the Small Business column
Printronix is set to send the last of its local manufacturing operations to Mexico
A look at First American's fourth quarter and 2008
The assets of Alsius Corp., an Irvine medical device maker, are being bought by Zoll Medical Corp. of Chelmsford, Mass, for $12 million.
Ceradyne is continuing to lay workers off
Buena Park's Noritsu America Corp., a maker of photo software, scanners and printers, said Monday it plans to buy a maker of self-service photo printing kiosks for stores.
Wall Street analysts still are on the fence about Broadcom's big ambitions in cell phone chips
Newport Beach-based bond fund manager Pacific Investment Management Co. has been hired to advise the federal government on its bailout of Bank of America Corp., according to a Bloomberg report.
Toshiba's pending buy of Fujitsu's disk drive business could be a good thing for other industry players, in the Technology column
Buy.com is hoping to keep the momentum of a promising fourth quarter going
Retail properties continued to feel the hurt in the fourth quarter, in Real Estate Watch. Plus RE Charts
Group to Open 2 Restaurants in Costa Mesa Art District. FoodArt Group set to hire 200, in Segerstrom buildings
How the auto industry's ongoing downturn played out at local automakers last year
Supermarkets are holding their own in the downturn, in the Marketplace column
HSBC launched Britain's biggest rights issue on Monday, to raise 12.85 billion pounds ($18.3 billion) to help it overcome big losses in the United States and exploit the woes of weaker rivals.
Smith Micro is looking to be a player in the next generation of wireless networks
The parent of ARB is doing more work for a big Southern California utility company, in the Real Estate column