Stories for January 2010

Sunday, January 31

Jannard Buys Studio for Digital Camera Co.

Lake Forest’s Red Expanding, Plans Big Las Vegas Compound

Billionaire Oakley founder Jim Jannard bought a Hollywood movie studio to grow his latest hobby—digital movie cameras

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REAL ESTATE WATCH: Greater Los Angeles

Los Angeles Office, Industrial Markets Show Signs of Stabilization

The Los Angeles office and industrial markets are showing signs of stabilization, in Real Estate Watch

Former Voit Exec Launches 360 Commercial Partners

Big Warehouse Sale Latest Deal in Popular Buena Park Area; Bixby Adds Irvine Co. Alum

One of OC’s top commercial brokers thinks the down market is the right time to start a business, in the Real Estate column by Mark Mueller

Memory Co. Netlist Adds Patents as Plank in Strategy

Q4 PC Sales Bounce; Viking Does Solid State; Family Gets Home Built in Part by Nicholas

Netlist recently landed two patents, in the Technology column by Sarah Tolkoff

Five Crowns Adapts Banquet Room into English Pub

Hilton Waterfront’s Shades Adds Weekend Prix-Fixe; Trip to Long Beach’s Michaels on Naples

The latest on OC’s dining scene, in the Executive Dining column by Fifi Chao

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Local Consultants See Billings Fall 12% on Real Estate Woes

The county’s largest environmental consultants saw local billings drop 12% to $523 million in 2009

KUDOS

A look at people, companies and institutions receiving awards, accolades, grants and other honors

Wings Franchisee Opens in Lake Forest, Eyeing Irvine

Airport Security Device Maker Vies With Body Scans; Game Retailer Taking on GameStop

A local restaurateur is opening up a Buffalo Wild Wings in the Lake Forest Gateway shopping center, in the Small Business column by Murray Coleman

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Federal Guarantees for SBA Loans Aimed at Spurring Lending

FINANCE: Feds backing 80% of banks’ shares of expansion loans

New federal loan guarantees designed to spur lending to small business are due within weeks

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PEOPLE

Newmeyer Adds Lawyer To Run Bankruptcy Practice

Hirings, promotions and other moves at local businesses

NEWS OF THE WEEK

This past week’s news from www.ocbj.com and other sources

UCI Interim Health Leaders Land Posts

Over the holidays, the UCI Medical Center quietly elevated Terry Belmont to permanent chief executive

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Boost Mobile Adds BlackBerry To Help Ditch Low-Rent Image

$60 Unlimited Plan to Appeal to New Customer Group; Also Adding Sleeker Cell Phone Designs

Boost Mobile is expanding its phone lineup to include a BlackBerry and a different wireless network

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Finished Offices Last in Building Pipeline

REAL ESTATE: Developers lower rents for Santa Ana, Newport space

OC’s office construction boom is officially at an end

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California to Lose Gateway Status?

VIEWPOINT

Port of Los Angeles: along with Long Beach, serves as OC’s maritime gateway, in Viewpoint

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Santa Ana Site Back on Market, Towers Scrapped

REAL ESTATE: Lender selling 5 acres, empty office; expected loss

A Santa Ana site eyed for condo towers during the boom years is being sold by the project’s lender

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Yokohama Tires Ramps Up Motorsports Sponsorships

Local Swimsuit Maker Lands Bikini on Playboy Cover; Del Taco Starts Star Trek Promotion

The December issue of Playboy was a coup for swimsuit maker L*Space America, in the Media and Marketing column

How Deal Beat IPO for Networks in Motion

TECHNOLOGY: Price, promise to keep intact won over investors

The biggest 2009 deal for a local technology startup came after Networks in Motion opted to keep the gang together with a buyout

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Local Hedge Funds: $32 Billion Invested

FINANCE: About a dozen local fund managers; Pimco dominates

About a dozen hedge funds call OC home and manage an estimated $32 billion for pension plans

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No-Spin Zone At Irvine Co.; Raj Does Dome

OC Insider column by Rick Reiff

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Allergan Partner Hits Snag in Clinical Trial for Dry Eye

Vertos Enrolls Patients in Study to Treat Narrowing Spine; I-Flow Named in Lawsuit for Pump

A dry eye drug that’s being co-developed by Allergan faces an uncertain future, in the Healthcare column

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

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Friday, January 29

Edwards, Baxter Working on Kidney Device Recall

Irvine-based Edwards Lifesciences Corp. is working with its former parent on the recall of a medical device that traded hands between the pair last year.

Drugstore Deal: Artificial Nail Maker Buys Antifungal Company

A Lake Forest-based maker of artificial nails has acquired an Aliso Viejo maker of antifungal products and hand sanitizers.

Drug Maker Spectrum Gets $16M from Asian Partners

Spectrum Pharmaceuticals Inc. of Irvine said Friday that it received $16 million from two Asian companies it’s working with to develop a cancer drug.

Thursday, January 28

Government Weighing Broadcom Appeal, SEC Lawsuit

Two arms of the federal government are weighing whether to pursue what's left of their cases against Broadcom Corp.’s founders, according to a Thursday court hearing.

Quality Systems Profit in Line, Sales Just Shy

Irvine-based medical software maker Quality Systems Inc. on Thursday posted a profit in its most recent quarter that met expectations.

Beckman Coulter CFO, Others Honored

Charles Slacik, who helped Brea-based Beckman Coulter Inc. finance an $800 million acquisition in the wake of the financial meltdown, was among seven chief financial officers honored Wednesday.

Wednesday, January 27

2010 Auto Sales Seen Rising 13% After Dismal 2009

Sales of new autos are forecast to rise this year after a dismal 2009, according to a report from the Newport Beach-based Orange County Auto Dealers Association.

Broadcom Loose Ends on Judge's Docket Thursday

The federal judge who turned the stock options prosecution of a current and former Broadcom Corp. executives on its ear is set to address some loose ends in the matter on Thursday.

Irvine Medical Products Maker Raises $30M

Neomend Inc., an Irvine medical products maker, said Wednesday that it has raised $30 million in a fourth round of funding.

Spectrum Ends Work on Enlarged Prostate Drug

Irvine-based drug maker Spectrum Pharmaceuticals Inc. said Wednesday that it would stop work on a drug for treating benign enlarged prostates.

Tuesday, January 26

Chip Startup Quartics Raises $6.5M

Irvine-based startup Quartics Inc., a maker of chips that help consumer electronics stream high-definition video, raised $6.5 million in a recent round of venture funding, according to reports.

QLogic Profit Tops Expectations

Aliso Viejo-based QLogic Corp., a maker of electronics for data storage networks, reported quarterly results Tuesday that were down from a year earlier but ahead of Wall Street expectations.

Chipmaker Mindspeed Continues Bullish Run

Shares of Newport Beach-based chipmaker Mindspeed Technologies Inc., continued their bullish run on Tuesday, a day after the company gave a better than expected outlook for the current quarter.

Monday, January 25

Cypress Swimsuit Maker Acquired

Cypress-based swimsuit maker Manhattan Beachwear LLC has sold a majority stake to a private equity firm.

Mindspeed Rises on Sales Outlook

Shares of Newport Beach-based chipmaker Mindspeed Technologies Inc., rose Monday after the company posted a sales outlook for the current quarter that surpassed Wall Street’s expectations.

Anaheim GardenWalk Movie Theater Files for Bankruptcy

The operator of the movie theaters at The Shops at Anaheim GardenWalk has filed for bankruptcy reorganization, another troubling sign for the mall, which has been struggling since it opened in 2008.

San Clemente Storage Startup Lands $10M, Moves HQ to Bay Area

Coraid Inc., a startup maker of data storage computers and electronics for corporate networks, said Monday it landed $10 million in venture funding and moved its headquarters from San Clemente to the Bay Area.

Santa Ana Towers: 2010’s First Sale?

Investors are eyeing an expected sale of two Santa Ana office towers

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Inside Beckman

‘Office of the President’ Team Runs Company Alongside Even-Keeled Chief Executive

When it comes to running Beckman Coulter, Chief Executive Scott Garrett doesn’t stand alone, in a Business Journal Corner Office feature

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Better Retails Sales Didn’t Increase Q4 Tenant Demand

RETAIL MARKET

A relatively positive holiday retail sales season didn’t up tenant demand

Laguna Developer Prepares to Defend San Diego Project

REAL ESTATE: Hearing set for Stonegate, partner’s master plan

Developer NNP-Stonegate-Merriam still has a shot at getting its proposed Merriam Mountains project in San Diego approved

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Brokers Expect to See More Malls, Centers in Distress

REAL ESTATE: High vacancy, lower rents leading to defaults

Orange County’s retail market felt its fair share of pain in 2009

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Time to Buy?

Deals To Be Had, But Many Investors Waiting Until 2011 to Pull the Trigger on Big Buys

Many investors are waiting until 2011 to buy

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TRAVELOGUE

Copy Editor Courtney Baird’s trip to Paris

A look at a trip to Paris by the Business Journal’s copy editor, in Travelogue by Courtney Baird

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Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

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Chipmaker Dropping Half its Space in Aliso HQ Move

Developer Lands $28M Loan to Upgrade Brea Plaza; Northgate Gonzalez Expands to Oxnard

A few more details are emerging on chipmaker Mindspeed Technologies’ expected relocation to Aliso Viejo, in the Real Estate column by Mark Mueller

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Novartis Expands with Alcon; Some Shareholders Balk

Grubb Healthcare Fund Buys in Minnesota; Endologix Lawsuit on Hold as Patents Evaluated

An analyst says Swiss drug maker Novartis’ move to take full ownership of Alcon is “an intriguing effort,” in the Healthcare column by Vita Reed

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Del Taco Talk Show Spots Take Page From Jay, Conan

Taco Bell Diet Commercials Prompt Dietician Split, PR Agencies Report Pickup in Interest

Del Taco has started an ad campaign with a nod to talk show-style sketch comedy, in the Media and Marketing column by Michael Volpe

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Kingston YouTube Videos Show Off Drive Durability

Conexant, Quest Make Hires; Kofax Nabs Wins with Insurance Co., Australian Government

Kingston Technology launched a viral marketing series on YouTube.com starring some of its own, in the Technology column

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Jags, Ferraris, American Muscle at Crevier Classic Cars

High School Hopefuls Face Off in Annual Auto Fix Contest; Vans Opening Costa Mesa Store

Crevier Classic Cars has recruited a trio of veteran salesmen to ramp up sales of its vintage, exotic and muscle cars, in the Marketplace column by Sherri Cruz

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AROUND THE COUNTY

Projects, developments and other activity in cities in and around OC

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PEOPLE

Hirings, promotions and other moves at local businesses

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NEWS OF THE WEEK

This past week’s news from www.ocbj.com and other sources

Consulting Indicator

Among First to Fall, Management Consultants Report ‘Bit of Awakening’

Consultants that help companies with accounting, technology, legal and other projects said they’re seeing better conditions across the country

Chapman Unit Offers Government Degree

Chapman’s Brandman University has a new master’s of public administration program, taught by some of OC’s heavy hitters

Solar Panel Maker Lands Public, Private Funds; Plans to Grow

ENERGY: Wants to stay in Seal Beach, build in Arizona, Nevada

A Seal Beach-based maker of solar panels has big plans for growth

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Oakley Tops Foreign List Again, Defies Downturn

ECONOMY: Employment down 3.1% overall; Japanese dominate

Oakley held the top spot again this year as the biggest foreign-owned company in OC

La Jolla Buys Rights to L.A. Clothing Brand

APPAREL: Maker of O’Neill eyes diversification with True Love deal

La Jolla Group has nabbed the license for brand True Love and False Idols

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Fair Play: Manley Sees Another Gem; Nancy ‘29’ Wilhelm

OC INSIDER Column by Rick Reiff

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Trial by Fire for Surf Buzz Brand O’Quinn

APPAREL: Downturn saw issues of survival; sales small, growing

Huntington Beach’s O’Quinn Clothing is one of OC’s buzz brands

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Hills Hotel Drops Holiday Inn Flag

HOSPITALITY: Boutique plans renovations; nearby competition

The Holiday Inn Laguna Hills has dropped the Holiday Inn brand

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Office Vacancy, Availability To Stay Elevated in 10

OFFICE SPACE

Office availability rates will remain high this year

Industrial Market’s Leveling Off in Q4

INDUSTRIAL SPACE

The industrial market may be leveling off

Outlook for Chipmakers Best in Years as Earning Season Unfolds

TECHNOLOGY: Conexant kicks off with bang; Broadcom due soon

An analyst roundup of expectations for earnings season for some local chipmakers and the semi conductor industry

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Friday, January 22

Conexant Continues Bullish Run, Defies Down Day on Wall Street

Shares of Newport Beach-based chipmaker Conexant Systems Inc. continued their bullish run on Friday, defying a sluggish day on Wall Street.

County Ends 2009 with 49,000 Job Losses, Continued Improvement

Orange County ended 2009 with 48,900 jobs lost in December from a year earlier, part of a continuing improvement from the worst of the recession.

Thursday, January 21

Conexant Shares Jump on Results, Outlook

Newport Beach-based chipmaker Conexant Systems Inc. saw its shares jump in afterhours trading after reporting better than expected quarterly results and offering an outlook for the current quarter that topped what analysts had been expecting.

Emulex Beats, Outlook Tops Expectations

Costa Mesa-based networking electronics maker Emulex Corp. reported better than expected results for the recently ended quarter and offered an outlook for the current one that topped what Wall Street had been expecting.

Western Digital: Profits More Than Double, Sales Surge

Lake Forest’s Western Digital Corp., a maker of disk drives for computers and consumer electronics, on Thursday reported results for the December quarter that blew away analysts’ expectations.

Freedom Updates Bankruptcy; No Shares for Family, Investors

The bankrupt parent company of the Orange County Register has filed a revised reorganization plan that turns over all of the company to lenders and offers added concessions to unsecured creditors.

Wednesday, January 20

Western Digital Jumps on Rival Seagate's Quarterly Results

Shares of Lake Forest-based disk drive maker Western Digital Corp. jumped after the close of New York trading on Wednesday after the company’s top rival, Scotts Valley’s Seagate Technology LLC posted better than expected results for the December quarter.

Home Prices End 2009 at $435,000

Orange County's median home price ended 2009 at $435,000, a 9.6% increase from where home prices here stood a year earlier.

Tuesday, January 19

German Court Upholds Edwards Patent

Irvine heart valve maker Edwards Lifesciences Corp. said Tuesday a German court upheld a patent it holds for a new type of less-invasive heart valve.

Netlist Shares Jump on Patents for Memory Chips

Irvine’s Netlist Inc., a maker of specialized memory products for computers that’s in the midst of reworking its business, said Tuesday it landed two U.S. patents for an invention that helps improve the performance of servers in big data centers.

Conexant Sells Land Near HQ to City Ventures for $26M

Chipmaker Conexant Systems Inc. said Tuesday it's selling 25 acres of land next to its Newport Beach headquarters to Santa Ana-based developer City Ventures LLC for $26.1 million.

Monday, January 18

Taco Bell Founder, Fast Food Pioneer Dies

Glen Bell Jr., a fast food pioneer and founder of Irvine-based Taco Bell Corp., died Sunday at the age of 86, according to the Mexican food restaurant chain.

REAL ESTATE WATCH: THE INLAND EMPIRE

Inland Empire Seeing Stabilization; Positive Signs in Fourth Quarter

The Inland Empire sees some stabilization in its commercial market, in Real Estate Watch

Logistics Provider Signs Huge Lease

REAL ESTATE: Saddle Creek expands after buying ServiceCraft

A Florida logistics company has signed one of the largest industrial leases seen here in years

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Anaheim Office Sells On Strength of Tenant

A new Anaheim office built for Carl’s Jr.’s parent company has traded hands in one of the larger sales in North County of late

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Buyout Question Lingers for Pacific Mercantile

FINANCE: Big banks in no state to buy; bank may do own buying

The county’s largest homegrown bank is biding its time

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Pre-Pre-Med Course at JSerra; UCLA’s Legal Win

OC Insider Column by Rick Reiff

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Microsemi Lands Deal For Body Scanners

TECHNOLOGY: Endwave unit buy pays off; flight scare interest

One of Microsemi’s many recent acquisitions is proving timely

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Entrepreneur Hsieh Back with Mortgage Venture

REAL ESTATE: LoanDepot.com is third online mortgage venture

Entrepreneur Anthony Hsieh has decided to go back to work full-time in the mortgage business

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Pasadena Deal for Startup Developer

REAL ESTATE: City Ventures takes on high-profile project

City Ventures is taking on its highest profile and most expensive housing project to date

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Masimo Offshoot Lands Investment, Acquires Hospira Device

HEALTHCARE: SedLine built around brain monitoring product

A Masimo offshoot is buying a brain function monitoring device from Hospira

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L.A. Banks Buy Local Business Lenders

Two Los Angeles-area banks are buying a local pair of small-business lenders

NEWS OF THE WEEK

This past week’s news from www.ocbj.com and other sources

PEOPLE

Hirings, promotions and other moves at local businesses

The NAMM Show

Registration Up as New Products, New Companies Debut

A look at the NAMM show at the Anaheim Convention Center

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GIVING

Fundraisers and charitable donations from companies and people

Big Local Contingent Signs Up for Super Bowl Spots

Kia Pushing Forte Koup With Ads, Race; Lee & Associates Following Dell’s Twitter Lead

This year’s Super Bowl may be brought to you by OC, in the Media and Marketing column

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Broadcom Settles Class Action Lawsuit for Backdating

Samueli Visits Customers at CES in Las Vegas; Local Business Incubator Adds Tech Tenants

Broadcom last month agreed to pay $160 million to settle a class action shareholder lawsuit, in the Technology column

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Device Executives, Lawmakers Talk Taxes, Regulation

Local Maker of Projectors Buys Medical Imaging Co.; CalOptima Chief On U.S. Commission

Taxes and regulation weighed heavy at a recent field hearing of medical device makers at Edwards’ Irvine headquarters, in the Healthcare column by Vita Reed

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Texas Trust Buying Senior Housing in Laguna Woods

Grubb & Ellis Buying Apartment Complex in Texas; Master Development Lands Big Tenant

A real estate investment trust overseen by Behringer Harvard has become one of the area’s biggest buyers of apartment complexes, in the Real Estate column by Mark Mueller

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Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

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Global Warming: Science Versus Skeptics

VIEWPOINT

A famous UCI mathematician and businessman pits science against skeptics in the global warming debate

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More Regulations, More Work

Firms Expect Increased Government Scrutiny To Be Revenue Driver, Hot Topic in 2010

Litigation, bankruptcy and employment work kept OC’s law firms busy in 2009.

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After Graduation

Some Large Firms Cut Back on Summer Associates, Jobs; Small, Midsize Firms Still Hiring

What law students are doing about a law firm freeze on summer associate programs.

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Lawyers, Firms Optimistic for UCI Law’s Graduates

LAW: Students from ‘untested’ school will compete for fewer jobs

A look at the chances of those in UCI’s inaugural law school class of landing jobs once they graduate.

Local Attorney Count Drops as Firms See Less Business

OC’s largest law firms broke a six-year streak of adding attorneys in 2009.

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Broadcom Appeal Scenarios: Go Away, or Go Before 9th Circuit

Some legal observers are betting federal prosecutors will drop their appeals in the Broadcom stock options cases.

Bankruptcy Bounce

Downturn Brings Surge in Consumer, Business Cases

Remnants of the recession are keeping OC bankruptcy lawyers busy.

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Busy Lawyers

Plaintiffs Attorneys Hold Steady During Downturn; Getting Paid Is Hard Part

Many corporate lawyers in OC are seeing lagging demand for their services.

Firms Seek Securities and Exchange Commission Execs

Adding Former Government Employees Seen as Leg Up on Dealing with New Federal Regulations

Former SEC lawyers are a hot commodity right now.

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Ask the Experts

Q & A

A Q&A with some lawyers from OC’s biggest firms.

Tennis Land

Game is Big Here with Players, Coaches, Academy

Few games have taken root in OC like tennis has

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Friday, January 15

Irvine-Based Edison Unit Pulls Out of Solar Pact

An Irvine-based unit of Edison International is exiting a joint venture to develop sites to produce solar energy.

Penske Acquires Santa Ana Auto Dealerships

Michigan's Penske Automotive Group Inc. has acquired Santa Ana-based Commonwealth Audi and Commonwealth Volkswagen, owned by the troubled Keuylian family, for an undisclosed amount.

Conexant Files for $100M Shelf Offering; Stock Down

Shares of Newport Beach-based chipmaker Conexant Systems Inc. fell Friday after the company said it is seeking approval from the Securities and Exchange Commission to sell $100 million worth of its shares.

Thursday, January 14

Local Magazine Publisher Buys Newspaper Journal E&P

Irvine-based magazine publisher Duncan McIntosh Co. has acquired New York-based newspaper journal Editor & Publisher, two weeks after it closed.

Outlet Developer Craig Realty Wins Fairgrounds Auction with $56.5M Bid

Newport Beach-based developer Craig Realty Group was the high bidder in Thursday’s state-directed auction of the O.C. Fair & Event Center.

Fisker Lands Investment, Battery Supply Deal

Irvine-based Fisker Automotive Inc. has received an investment pledge from a battery maker that’s also set to become a supplier to the luxury hybrid automaker.

Pimco Surpasses $1 Trillion in Assets Under Management

Newport Beach-based bond funder manager Pacific Investment Management Co. has surpassed $1 trillion in assets under management for the first time.

Smith Micro: 2010 Sales Could Exceed Wall Street Estimate

Aliso Viejo’s Smith Micro Software Inc., a maker of cell phone software, gave a 2010 sales range forecast on Thursday that at the high end exceeded what Wall Street had been expecting.

Wednesday, January 13

Regulators Seek More Details on Diedrich Buy; K-Cup Concerns?

Federal regulators looking into the $290 million acquisition of Irvine’s Diedrich Coffee Inc. have asked for more details about the deal.

Chipmaker Mindspeed Jumps on Outlook, Record Profits

Shares of Newport Beach-based chipmaker Mindspeed Technologies Inc. jumped Wednesday after the company narrowed its sales outlook for the current quarter and gave a profit outlook that surpassed Wall Street’s expectations.

Tuesday, January 12

Gross Named Bond Fund Manager of Decade

Bill Gross, who manages the biggest mutual fund in the world for Newport Beach-based Pacific Investment Management Co., has been named the top bond fund manager of the past decade.

Kaiser Aluminum Slumps Along With Alcoa

Shares of Foothill Ranch-based Kaiser Aluminum Corp. slumped Tuesday, a day after industry bellwether Alcoa Inc. kicked off earnings season with a lower than expected loss.

Monday, January 11

Multi-Fineline Slumps on Sales Outlook

Shares of Anaheim’s Multi-Fineline Electronix Inc., a maker of flexible printed circuit boards for cell phones and other devices, plummeted Monday after the company gave a worse than expected sales outlook for the current and recently ended quarters.

Emulex Jumps on Quarterly Outlook

Shares of Costa Mesa’s Emulex Corp., a maker of electronics for data storage networks, jumped Monday after the company gave an early look at its earnings for the December quarter.

Laguna Beach Medical Device Maker Raises $5M

Advanced Cardiac Therapeutics Inc. of Laguna Beach said Monday it raised $5 million in a second round of funding.

Ceradyne Ups Profit Outlook, Revises Sales Downward

Costa Mesa-based defense contractor Ceradyne Inc. said Monday it expects 2009 profits to meet or exceed its prior projections but sees revenue falling short.

Inside Broadcom

Intense Engineering Culture; Hard-Charging Roots, Corporate Polish

CORNER OFFICE - A look at a day in the life of a Broadcom executive in a Business Journal Corner Office feature

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Top 50 Hotels Pulled Back On Meeting Room Additions

Less Convention/Mortgage Sector Business, Hard Financing Tamped Expansion Plans

Why the amount of meeting room space stayed flat in OC’s hotels last year

BlizzCon, Big Conventions Coveted by Anaheim Center

MEETINGS: Video game fan fest still deciding 2010 location

A look at BlizzCon and whether it will remain in Anaheim; a conventions calendar

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Event Planners Expect Slight, Not Severe Drop in Business

Travel planners are expecting a better year—in 2011.

Convention Center Nabs New Show

Photo Association Attracted to Anaheim’s Renovations

The Photo Marketing Association has tapped Anaheim for an expanded annual tradeshow

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Hotel, Convention Attendance Expected to Be Sluggish in ’10

Many industry watchers are projecting attendance decreases of 5% to 15% at local conventions

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Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

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REAL ESTATE WATCH: The Mid-counties Market

Increased Q3 Demand Signals Upswing in Mid-Counties Industrial Market

An upswing in third quarter activity is signaling a rebound in the Mid-Counties industrial market, in Real Estate Watch

Distressed Commercial Properties Are Poised for Deals

Steve Bren, Bacchus Development Looking to Offload House, Properties to Help Settle Debt

OC saw more than its share of distressed commercial real estate properties trade hands in 2009 compared to other large markets, in the Real Estate column by Mark Mueller

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Clarient Buy Brings Lung Cancer Tests to Its Repertoire

Endologix Makes Move in Patent Infringement Case; Radient Outlines Goals for Subsidiary

Clarient is adding some lung cancer tests to its menu, in the Healthcare column by Vita Reed

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Kingston Market Share Rises in First Half of ’09 to 38%

Irvine Startup Quartics Lands Deal With Taiwan Co.; UCI Extension Adds IPhone App Class

Kingston managed to take market share away from its biggest rivals, in the Technology column by Sarah Tolkoff

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Lease Deals Spur Opening of Clothes, Home Boutiques

Irvine Co. Seeks to Fill Dean & DeLuca Space; Mercedes, Other Auto Sales Jump in November

A pair of independent retailers has taken advantage of lease deals to open boutiques, in the Marketplace column by Sherri Cruz

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Casanova, Other Hispanic Ad Shops Eye Census Boost

Orange Label Wins Wire Maker’s Ad Work; Register Expands Irvine World News Delivery

This year’s census could be a boon for Hispanic advertising agencies, in the Media and Marketing column by Michael Volpe

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PEOPLE

Hirings, promotions and other moves at local businesses

NEWS OF THE WEEK\

This past week’s news from www.ocbj.com and other sources

Nonprofit Human Options Enlisting More Men to Fight Domestic Abuse

Human Options is like a cherished family heirloom for the Churms

Stalled Irvine Condos Set to Be Apartments

REAL ESTATE: Dupont Lofts sold by bank to Essex for $27M

An Irvine condominium development will be converted into an apartment complex following a sale by its lender

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Rare Industrial Deal to Expand Toyota Dealership

REAL ESTATE: Joe’s Garage sale an anomaly in frozen market

The Tustin Toyota auto dealership is expanding its local operations after buying the former site of a well-known auto museum

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High-Tech TVs, Accessories Reign at CES

TECHNOLOGY: Show brings entertainment to home, Vegas

A look at the new gadgets and technology that OC’s local tech companies presented at the Consumer Electronics Show in Las Vegas last week

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The Other BCS Winner: Newport; Krafcik Kudo

OC INSIDER column by Rick Reiff

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Masimo Expanding With Building; Hires to Come

Masimo is expanding its Irvine headquarters and plans to add about 200 workers this year

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Executives’ Outlook Positive for Quarter

The rebounding confidence of OC executives has held for the first quarter

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Kia’s Turn

Hyundai Sibling Plans Biggest Marketing Push Yet

Kia Motors America wants everyone to know about its newly redesigned Sorento crossover utility vehicle

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Friday, January 8

Prosecutors Drop Nicholas Drug Case, Appeal on Options

Federal prosecutors are dropping drug charges against Broadcom Corp. cofounder Henry Nicholas just weeks before they were set to appear before a skeptical judge to prove why the case should go forward.

Thursday, January 7

L.A. Times Closing Costa Mesa Printing Plant

The Los Angeles Times said Thursday it plans to close its printing plant in Costa Mesa in its continuing quest to cut costs.

Sunstone Gives Back 11 Hotels, Seeks Acquisitions

San Clemente-based Sunstone Hotels Investors Inc. said Thursday it's in the process of handing back 11 hotels to a lender after it stopped paying on their mortgage in November.

Pimco Exec Leaving for Janus

A longtime executive from Newport Beach-based Pacific Investment Management Co. is leaving to become chief executive of Denver mutual fund manager Janus Capital Group Inc.

Wet Seal Sales Better Than Expected, Sees Profit at High End of Guidance

Foothill Ranch-based mall retailer Wet Seal Inc. reported a better than expected decline in December sales and said it sees profits for the current quarter coming in at the high end of its prior guidance.

Wednesday, January 6

Resources Connection Posts Unexpected Loss, Lower Revenue

Irvine-based Resources Connection Inc., a provider of accountants, lawyers and other professionals to companies on a project basis, reported an unexpected loss and lower sales for its recently ended quarter.

CES Preview: Gadget Crowd Descends on Vegas

Hordes of gadget lovers, retail buyers, businesspeople and press landed in Las Vegas Wednesday ahead of the biggest electronics trade show of the year.

Cypress Projector Company Buys Medical Device Maker

Christie Digital Systems Inc. of Cypress said Wednesday it bought the assets of Luminetx Corp., a Memphis-based medical device maker, for an estimated $15 million.

Tuesday, January 5

Broadcom Cofounder Samueli Resumes Executive Role

Broadcom Corp. cofounder Henry Samueli has resumed an executive post at the Irvine-based chipmaker, a few weeks after a judge dismissed a federal criminal charge and civil case against him.

PacSun Shares Up on Retail Hopes; Wet Seal Falls

Orange County’s two mall store operators took different paths Tuesday on Wall Street, where hopes of better-than-expected holiday sales drove many retailers.

Western Digital Rises on Reports of Drive Shortage

Shares of Lake Forest’s Western Digital Corp., a maker of disk drives, closed higher Tuesday on reports that drives for desktop computers appear to be in short supply, potentially adding to the company’s bottom line.

Hyundai, Kia See December Sales Surge

Fountain Valley-based Hyundai Motor America led a rise in automotive sales for some of the county’s automakers last month.

Monday, January 4

Century 21 Cofounder Bartlett Dies

Art Bartlett, who cofounded Century 21 in Santa Ana and built the company into the largest franchisor of residential real estate agencies, died New Year’s Eve after a long illness.

STEC Jumps After Analyst Names It a Top Pick

Shares of Santa Ana’s STEC Inc., a maker of flash memory drives for corporate and industrial uses, jumped Monday after an analyst called the stock a “top pick.”

Honorable Mention: Manouch, Mark Moshayedi

STEC Had Remarkable Year, Even with Fall Pullback on EMC, Competition Concerns

For much of 2009, STEC Inc.’s Manouch and Mark Moshayedi seemed like shoe-ins for our businesspersons of the year.

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Runner-Up: Paul Heeschen

Diedrich Chairman Saw Big Stock Run-Up, Bidding War

An investment in a cup of joe turned out to be a deal of a lifetime for Paul Heeschen.

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NEWS OF THE WEEK

This past week’s news from www.ocbj.com and other sources

Runner-Up: William Wang

Vizio Chief, Founder Beat Economic Downturn with Strong Sales

Vizio Inc. Chief Executive William Wang steered the seller of flat TVs through another strong year despite worries about slumping consumer demand.

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UBS War Brings Runner-Up Nod

BUSINESSPERSON OF THE YEAR - RUNNER-UP: Igor Olenicoff made a splash on the world stage as a leading figure in a dust-up over secret overseas bank accounts for wealthy Americans.

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Defiant Year

Western Dig Boss Adeptly Dodged Downturn, Expanded Drive Maker

BUSINESSPERSON OF THE YEAR - John Coyne had a banner year at Western Digital Corp. t

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Runner-Up: John Krafcik

Hyundai Motor America Boss Grew Sales in Crippling Downturn

Runner-Up: Hyundai Motor America Boss John Krafcik Grew Sales in Crippling Downturn

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Nicholas Drug Case Faces Uphill Fight

LAW: Feb. 2 hearing could be last stand in Broadcom prosecutions

A federal drug case against Broadcom’s Henry “Nick” Nicholas could end with a whimper next month

Biggest in Years, First American Spinoff Advances

REAL ESTATE: Title insurance unit could see $2B market value

A look at what the First American’s plans are for implementing its long awaited spinoff

UCI Law School No Longer Free, But Still a Deal

OC INSIDER column by Rick Reiff

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PacSun Boss Taps Lessons from Vans, Dad

APPAREL: Schoenfeld has work cut out at struggling mall retailer

A look at PacSun’s chief executive and the company’s turnaround efforts

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Profitable Dental Group Set to Test Public Waters

The parent of a Santa Ana dental services company is looking to break a long drought for initial public offerings in OC

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Reader Letters

Historical Corrections

Reader Letter - Historical Corrections

IPO Freeze Shows Signs of Thawing

ECONOMY: Healthcare cos. likely prospects; others in wings '

2010 is set to be the year initial public offerings return to OC

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

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Keynesian-Hayek Divide

VIEWPOINT

One local executive says there’s a Keynesian-Hayek divide in our country

REAL ESTATE WATCH: North & Central Orange County

Lower Industrial Demand Makes Landlords Aggressive with Rents

Lower industrial demand is making landlords aggressive with rents, in Real Estate Watch

Buchanan Street Partners Names Ballard as President

Merage-led Firm Buys Palm Desert Shopping Center; Mission Viejo Co. Builds in Mira Loma

A Newport Beach real estate investment bank is making some changes to its executive team, in the Real Estate column by Mark Mueller

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Post Modern Changes Ownership, Gets Hyundai Work; Vertical Marketing Does Sweepstakes

DGWB Advertising has added kitchen appliance maker Thermador as a client for the second time, in the Media and Marketing column by Michael Volpe

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Laser Maker Expects Higher Profits After Paying Debt

Symwaves Inks Deal with LaCie to Make USB 3.0; Emulex Licenses Software for Offloading

A local maker of lasers is expecting higher profits after paying off debt, in the Technology column by Sarah Tolkoff

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Report: Cost Cutting Top Healthcare Industry Concern

Avanir’s Zenvia Has Promising Third-Phase Trial; FDA Clears Agendia’s Breast Cancer Test

Cutting costs will be the “overarching theme” for the healthcare industry in 2010, a report says, in the Healthcare column by Vita Reed

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PEOPLE

Hirings, promotions and other moves at local businesses

Honorable Mention: Art Buser

Sunstone Chief Was Crazy Like a Fox with Hotel Handovers

The chief executive of San Clemente-based Sunstone Hotel Investors Inc., which owns all or part of 40 hotels, made waves by giving back some properties to lenders after going underwater on their mortgages.

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Honorable Mention: J. Michael Pearson

Valeant Chief Spent $400 Million To Build Skin Products Business

J. Michael Pearson went shopping in 2009 as part of his ongoing rebuilding of Aliso Viejo-based Valeant Pharmaceuticals International.