Stories for April 2011

Friday, April 29

Nursing Home Companies’ Shares Sink on Potential Medicare Cuts

Shares of Orange County’s three publicly traded nursing home companies plummeted Friday on news of a possible double-digit Medicare payment cut.

Samueli Raises Stakes in Pursuit of Kings

Billionaire Henry Samueli has upped the ante to land the Sacramento Kings and has offered to buy a minority stake in the franchise.

Allergan Loses Virginia Lawsuit Over Botox

A Virginia federal court jury has ordered Irvine drug maker Allergan Inc. to pay $212 million to a man who said he got permanent brain damage after being injected with Botox to treat cramps and tremors in his hand in 2007.

Thursday, April 28

Standard Pacific Q1 Loss Widens, Land Buys Continue

Irvine-based homebuilder Standard Pacific Corp. reported a larger-than-expected first quarter loss of $14.8 million on Thursday, although revenue came in higher than what analysts had been expecting.

Ingram Misses Profit Estimates, Shares Sink

Shares of Santa Ana-based Ingram Micro Inc. fell sharply in afterhours trading Thursday after the company reported a first-quarter profit that missed Wall Street’s expectations.

Microsemi Reports Big Sales, Profit Gains

Irvine-based chipmaker Microsemi reported big gains in first-quarter sales and profits that were in line with Wall Street expectations.

First American Profit Misses on Canada Issue

Santa Ana-based title insurer First American Financial Corp. reported a lower than expected adjusted quarterly profit as it reworked and shored up a policy offered in Canada.

Wednesday, April 27

Kaiser Aluminum Profit Falls Short, Shares Stumble

Foothill Ranch-based aluminum products maker Kaiser Aluminum Corp. on Wednesday reported first-quarter results that fell short of Wall Street’s profit expectations while topping analysts’ revenue estimates.

Diagnostic Company Hycor Moving to Indiana

Garden Grove-based Hycor Biomedical Inc. said Wednesday that it’s moving its headquarters from Garden Grove to an undisclosed location in central Indiana, according to a report in the Indianapolis Star.

Drug Maker Spectrum Sees Q1 Profit, Big Sales Boost

Irvine drug maker Spectrum Pharmaceuticals Inc. on Wednesday forecast better-than-expected results for the first quarter.

Broadcom Slump Continues on Weak Outlook

Shares of Irvine-based chipmaker Broadcom Corp. slumped Wednesday, a day after the company's sales forecast for current quarter disappointed Wall Street.

Tuesday, April 26

Ceradyne Beats Expectations, Shares Surge

Shares of Costa Mesa’s Ceradyne Inc. jumped on Tuesday after the company reported first quarter financials that beat Wall Street expectations and raised its guidance for the rest of the year.

Emulex Shares Slump on Outlook

Shares of Costa Mesa-based Emulex Corp. slumped Tuesday, a day after the networking electronics maker reported a weak outlook for the current quarter.

Vizio Signs Blake Griffin as New Pitchman

Irvine’s Vizio Inc. has signed Los Angeles Clippers star Blake Griffin to pitch its low-cost digital TVs and other products.

Drug Maker Teva Resumes Irvine Manufacturing

Generic drug maker Teva Pharmaceutical Industries Ltd. said Tuesday it’s resumed production at its Irvine plant.

Monday, April 25

Mindspeed Meets Revenue Expectations, Narrowly Misses Profit Target

Newport Beach’s Mindspeed Technologies Inc., a maker of networking chips, reported revenue in the March quarter that fell in line with Wall Street expectations, but missed the profit target.

QLogic Names Finance Chief

Aliso Viejo’s QLogic Corp., a maker of electronics for data storage networks, has tapped Jean Hu as chief financial officer and senior vice president.

Sunday, April 24

MARKET WATCH - May 2, 2011

The Week's Best, Worst Performers; Roth OC50, Billion Dollar Club, OC Tech; Index Watch, 52-week Performance

Church Closes $20M Buy of Anaheim Buildings

REAL ESTATE: Eastside plans upgrades, selling current site

Eastside Christian Church has finalized its deal for a new campus

Tease photo

FDA Questioned by Other Feds on High-Risk Devices

GAO calls safety standards insufficient, checks recalls

A federal agency is questioning FDA approval of high-risk devices, in Healthcare

Pacific Mercantile Sees Big Profit Gain

The parent of Costa Mesa’s Pacific Mercantile Bank saw a big jump in profits for the first quarter as it didn’t have to set aside any more money to guard against loans going bad.

CALENDAR - April 25-May 4, 2011

A listing of events happening all around Orange County. April 25-May 4, 2011

Tease photo

REAL ESTATE WATCH: INLAND EMPIRE

Signs of Rebound in Inland Empire Industrial Market

The Inland Empire is seeing signs of a recovery. Includes Real Estate Watch industry performance charts.

Tease photo

REAL ESTATE DEALS

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

Brokerage ‘Train Already Moving’ as Osbrink Joins Voit

Latest New Hire Looks to Replace Strasmann Here

Bob Osbrink joined Voit as executive managing director, in Real Estate

Device Maker ICU Sees Strong Results, Ups Outlook

HEALTHCARE: New plant spurs gains, cuts Hospira reliance

Device maker ICU Medical beat analyst expectations with first-quarter results

Tease photo

Mazda Spots Start With Brand History to Increase Sales

New Agency’s Campaign Waits to Highlight Models

Mazda is telling its brand history in an ad campaign, in Media & Marketing

Tease photo

TowerJazz Looks to Boost Capacity With Plant in Japan

$140 Million Deal Would Beef Up Presence in Asia

TowerJazz is looking to buy a Japanese chip plant, in Technology

NEWS OF THE WEEK

Stories in this week’s Orange County Business Journal

Another Round of Menu Regulations for Restaurants

RESTAURANTS: Feds’ initial proposal goes beyond state rules

OC restaurants are bracing for federal menu regulations

Fullerton Forecast Sees Moderate Growth, Job Gains

ECONOMY: Enough to offset housing lag, “external shocks”

Cal State Fullerton’s midyear forecast predicts modest job growth this year

$84M in Goodwill

Stores, Services Earn Way, Train Disabled

Goodwill of Orange County saw $84 million in revenue last year and plans to grow

Tease photo

Jannard’s Camera Grabs More Space

MEDIA: Gains with filmmakers, new models; 110,000 SF in Irvine

Jim Jannard’s Red Digital expands with sublease at Irvine Spectrum

Nixon Group Shuns Woodward, Bradlee; Taking on Defense

OC INSIDER Column by Rick Reiff

Is Vizio’s New Building Next Frontier?

MARKETING: Low-rise Spectrum buy comes amid product push

Vizio recently bought a three-story building next to its headquarters for $7.5 million

Edwards Hones in on Launch of Valve Here

HEALTHCARE: Company also leases extra Irvine office space

Edwards Lifesciences’ Sapien heart valve could get U.S. approval by October

Tease photo

Itty Bitty Bras Get Bigger for Home-Based Irvine Entrepreneur

APPAREL: Celebs aboard, new products for neglected niche

Profiles of inventions, innovations and entrepreneurs: An Irvine bra designer is seeing sales grow by targeting a niche

Marketing Comeback Comes With Caution, Projects for Ad Agencies

ADVERTISING: More testing concepts; some turn long term

The county’s ad agencies are seeing a comeback as the economy improves

Tease photo

Epicor Won’t Go Far With New HQ Lease

REAL ESTATE: Move comes as $976M sale awaits approval

Epicor is moving its headquarters within Irvine

Tease photo

Hyundai Set To Wait Out New HQ at Pacific Arts

REAL ESTATE: Eyes July start on new Fountain Valley building

Hyundai is setting up temporary shop in Costa Mesa’s Pacific Arts Plaza

Tease photo

Applied Sees Mobile Heart Monitor at Core of Growth Plan

HEALTHCARE: FDA approval expected; raises $5M for rollout

Applied Cardiac Systems is getting ready to release a new heart monitor

Tease photo

Thursday, April 21

Pimco's Gross to Manage First ETF

Bill Gross, co-founder and co-chief investment officer of Newport Beach’s Pacific Investment Management Co., will actively manage his first exchange-traded fund in a move that could reshape the booming investment strategy.

Report: Chipmaker Solarflare in Talks With Marvell

Irvine’s Solarflare Communications Inc., one of the county’s best-funded chip startups, is reported to be in talks to be bought or sell parts of its business to Santa Clara chipmaker Marvell Technology Group Ltd.

Wednesday, April 20

Western Digital Shares Up on Meeting Revenue Expectations, Misses Profit Target

Shares of Irvine’s Western Digital Corp., a maker of disk drives for computers, servers and consumer electronics, rose on Wednesday after the company reported results for the March quarter that met Wall Street’s revenue expectations, but fell short of profit estimates.

Heart Valve Maker Edwards Surpasses Estimates

Irvine-based Edwards Lifesciences Corp. on Wednesday reported first-quarter results that topped Wall Street’s projections and raised its full-year outlook.

Intel Shares Rise on Strong Forecast

Shares of Intel Corp. rose more than 7%, a day after the world's top chip maker forecast strong second-quarter sales, easing fears that the tablet and smartphone boom was eating into personal computer sales.

AT&T Weathers Loss of iPhone Exclusivity

AT&T Inc. survived the loss of its exclusive U.S. rights to sell the Apple Inc. iPhone.

Fiat Sees "Happiness" in Chrysler Ownership

Fiat is pushing ahead with plans to get 51% of U.S. No. 3 carmaker Chrysler, a goal that boss Sergio Marchionne defined on Wednesday as "happiness" for the Italian car maker.

Pacific Mercantile Sees Big Profit Jump

The parent of Costa Mesa’s Pacific Mercantile Bank saw a big jump in profits for the first quarter as it didn’t have to set aside any more money to guard against loans going bad.

Tuesday, April 19

Irvine Co. Restructures, Lays Off

Newport Beach’s Irvine Co. has eliminated about 75 local positions as the result of a restructuring initiative, a company official said on Tuesday.

Broadcom Cracks Top Ten of World Chipmakers

Irvine’s Broadcom Corp. has cracked the top 10 of the largest chipmakers in the world for the first time.

Lawsuit Against Taco Bell Dropped

A class action lawsuit against Irvine-based Taco Bell Corp. over the Mexican fast food chain’s beef content has been voluntarily dropped.

Seagate Buying Samsung Drive Unit To Compete With Western Digital

Irvine-based disk drive maker Western Digital Corp.’s pending $4.3 billion buy of Hitachi Global Storage Technologies Ltd. has prompted archrival Seagate Technologies LLC of Northern California to strike a deal of its own.

Berkshire and Buffett Sued Over Sokol's Trades

Warren Buffett, former top lieutenant David Sokol, and the rest of Berkshire Hathaway Inc.'s board of directors were sued by a shareholder over a trading scandal that cost Sokol his job.

Fed Unveils Proposal on Mortgage Standards

Lenders would be required to make sure prospective borrowers have the ability to repay their mortgages before giving them a loan, under a proposal released by the Federal Reserve.

Goldman Profit Drops as Trading Revenue Falls

Goldman Sachs Group Inc. posted a 72% decline in quarterly earnings as trading revenue dropped, and the bank warned there were fewer opportunities to make money in the current environment.

Monday, April 18

ICU Medical Beats Expectations, Boosts Outlook

San Clemente-based medical device maker ICU Medical Inc. on Monday reported a profit that beat analysts’ expectations and raised its 2011 earnings outlook.

Luxury Home Broker McMonigle Files for Ch. 7 Bankruptcy

Newport Beach-based luxury real estate agent John McMonigle has filed for Chapter 7 bankruptcy protection, according to court records.

S&P Cuts U.S. Outlook to Negative on Fiscal Worry

Standard & Poor's downgraded its credit outlook for the United States, citing a "material risk" that policymakers may not reach agreement on a plan trim its large budget deficit.

Citi Profit Falls 32% as Bond Trading Weakens

Citigroup Inc.'s first-quarter profit fell 32% as bond trading revenue plunged and operating expenses jumped.

Synthes Confirms in Deal Talks With J&J

Synthes said it was in takeover talks with Johnson & Johnson after reports the U.S. group is looking to buy the Swiss medical device maker for about $20 billion.

Sunday, April 17

CALENDAR - April 18-27, 2011

A listing of events happening all around Orange County. April 18-27, 2011

Printers Off Bottom; New Hires, Adjustments in Works

Steady on revenue, adding jobs, investments to meet digital shift

ABOUT THE LIST: Commercial printers here stopped the bleeding and started down a path toward recovery last year. Includes the 2011 OC's LARGEST COMMERCIAL PRINTERS list for download (pdf)

Billings Zoom, Strong Jobs Gain as Marketplace Stirs

Recovery kicks in; Hyundai’s shop No. 1; digital trend grows

ABOUT THE LIST: Advertising spending made a comeback last year as Orange County’s largest agencies saw billings jump to end a dry spell that hit the industry during the downturn. Includes the 2011 OC's LARGEST ADVERTISING AGENCIES List for download (pdf)

Tease photo

Suzuki, Kia Win Super Bowl Bets

Top List for Return on Investment Based on Boosts in Traffic to Auto Buff Websites

Two Orange County-based auto brands stuck out from the crowd during this year’s Super Bowl to top a list measuring the effectiveness of ads during the big game.

Tease photo

REVIEW

“Silent Sky,” South Coast Repertory Theatre, Costa Mesa, through May 1

A review of “Silent Sky” at South Coast Repertory

Tease photo

Royal Pain

READER LETTER

A reader argues that a Kings relocation could hurt the local economy

Tease photo

REAL ESTATE DEALS

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

REAL ESTATE WATCH: THE MID-COUNTIES MARKET

Better Economy, Busy Ports Put Mid-Counties Back in Swing

The Mid-Counties submarket continued to see gains in the fourth quarter

225-Unit Lake Forest Apartment in Middle of Big Swap

UDR, Avalon Bay Put 10 Properties in $500M Deal

A Lake Forest apartment complex was involved in a swap, in Real Estate

Tease photo

Allergan Off to Fast Start on Botox Sales for Migraines

Reimbursement Rate Also Up, Doctor Training a Key

Allergan is seeing strong sales for Botox for migraine, in Healthcare

Mitsubishi Digital Taps MossWarner for Website Redo

Makeover Set to Debut in June; Mobile Site Next up

Mitsubishi Digital is rebranding its website, in Media and Marketing

Disneyland’s ‘Soundsational’ Summer Plan

TOURISM: Seasonal boost pegged on parade, new rides

The Disneyland Resort is getting ready to debut rides and a parade

Tease photo

Pending Deal, Upbeat Seagate Spurring Western Digital

Drive Industry Could See Stable Demand, Prices

Analysts are upbeat about Western Digital, in Technology

Rare Crystal Cove Sale: Home Goes for $5.5 Million

Watermark Home One of 33 in Exclusive Enclave

LUXURY: A home in the exclusive Watermark enclave recently sold for $5.5 million

Tease photo

NEWS OF THE WEEK

Stories in this week’s Orange County Business Journal

Raymond James’ California Growth Plan Includes Hires, Branches Here

FINANCIAL: Push to double share, boost community ties

Raymond James Financial is looking to double its market share in California

Nursing Home Operator Looking at Sale of Real Estate, Entire Company

HEALTHCARE: Move comes after Sabra, lawsuit settlement

Foothill Ranch-based nursing home operator Skilled Healthcare Group Inc. is looking at a potential sale of the company.

Tease photo

Merrill Lynch Florida Vet to Laguna Hills as Regional Director

FINANCE: Holsinger oversees four states, $26B in local money

Merrill Lynch appointed Joseph Holsinger to head up a southwest region unit

Arbonne Veterans Try Hand at Direct Sales Skincare Company

COSMETICS: Apriori’s small, growing; creams, drink, tablets

Apriori Beauty has plans to grow with more products and salespeople

Tease photo

Flyers to Skip Season, Work on Plan for Fullerton Stadium

SPORTS: Set for new league in 2012; options open on locations

The Orange County Flyers are taking a one year hiatus

Tease photo

Quality Systems Readies for Electronic Records Push

HEALTHCARE: Federal delays seen fading; decade of buying?

Quality Systems is gearing for a boom in medical records software

KB Lake Forest Buy: Big Interest Returns

REAL ESTATE: Homebuilder prevailed in competitive bidding

KB Home recently outbid nearly 20 builders for land in Lake Forest

Tease photo

Eye Focus

Recent Deals Turn Attention to Ista, Allergan

Allergan and Ista are getting attention as investments and potential buyouts

Tease photo

Dealers See 6-Month Sales Streak

AUTO: Sales up since October, see more gains with job growth

The county’s auto dealerships have seen six months of sales increases

Tease photo

Broadcom Adds 100,000 Sq. Feet

TECHNOLOGY: Chipmaker gets two more buildings at HQ

Broadcom has added two buildings to its Irvine headquarters

Tease photo

UCI Sees Giving Rebound; Around the World in 15 Days

OC INSIDER Column by Rick Reiff

Heart Testing Startup Aviir Moves From Bay Area

HEALTHCARE: Company has raised $41M, new round starting

Medical testing company Aviir is moving from the Bay Area to Irvine

Tease photo

SunCal Back in Game on Auction, Army Deal

REAL ESTATE: More wrangling seen with Lehman on Marblehead

SunCal is seeing a string of deals that could put it back in the game

Tease photo

Friday, April 15

County Adds Jobs in March, More Job Seekers Inch Up Unemployment Rate

Jobs gains in administrative and temporary work helped the county add jobs at a small clip in March, but the unemployment rate crept above 9% again as more job seekers entered the market.

BofA Profit Drops on Foreclosure Delays

Bank of America Corp. posted an unexpectedly sharp drop in first-quarter profit as higher expenses from delayed home foreclosures weighed on its mortgage business.

Core Inflation Rises Slightly, Sentiment Mends

Rising food and gasoline costs lifted U.S. consumer prices overall in March, but underlying inflation pressures were contained and consumer confidence rose in April.

Cost Surge Under New Google CEO Unnerves Street

Google Inc.'s stunning 54% spending surge in the first quarter spooked investors already worried its new CEO may take his eye off the bottom line to chase revenue growth.

Kings Get Extension on Anaheim Move Decision

A decision on a move by the Sacramento Kings to Anaheim has been put off to May 2.

Thursday, April 14

Court: Ernst & Young Must Face Lawsuit Over Broadcom Options

A federal appeals court has ruled that Ernst & Young LLP must face a lawsuit over its role in stock options backdating at Irvine chipmaker Broadcom Corp.

Core Producer Prices, Jobless Claims Rise

Core producer prices rose slightly faster than expected in March from February, as motor vehicle prices jumped, and the core increase from a year ago was the largest since August 2009.

Google First-Quarter Report to Kick Off Era Under New CEO

Management changes, spending plans and regulatory risks will be in the spotlight when Google Inc. reports its first-quarter financial results after the market closes.

China FX Reserves Soar Past $3 Trillion, Add to Inflation

China's foreign exchange reserves soared to a record of more than $3 trillion by end-March, while its money supply growth blew past forecasts, threatening to aggravate the nation's inflation woes and trigger more policy tightening.

Alliance HealthCare Services Makes Another Deal

Newport Beach-based Alliance HealthCare Services Inc. on Thursday made its second deal within a week, acquiring 24/7 Radiology LLP of Houston for $5 million in cash.

Wednesday, April 13

Hurley Names CEO

Nike Inc. appointed a former Levi Strauss & Co. executive on Wednesday to lead action sports apparel company Hurley International LLC.

Sunstone Completes Miami Hotel Sale

Aliso Viejo-based Sunstone Hotel Investors Inc. has completed its sale of a Miami hotel for $130 million.

JPMorgan Q1 Profit up 67%; Can it be Repeated?

JPMorgan Chase & Co. drastically cut the amount of money set aside for bad loans, allowing it to boost first-quarter profit by two-thirds but prompting questions about whether the results can be repeated.

Retail Sales Up, Consumer Spending Holds Up

U.S. retail sales rose modestly in March as auto sales plunged and consumers stretched to pay for pricey gasoline, but upward revisions to the prior months' data pointed to fairly solid first-quarter spending.

Banks Face $3.6 Trillion "Wall" of Maturing Debt

The world's banks face a $3.6 trillion "wall of maturing debt" in the next two years and must compete with debt-laden governments to secure financing, the IMF warned.

Grubb Gets $18M Loan, Colony Funding Half

Santa Ana-based real estate brokerage Grubb & Ellis Co. has secured $18 million in financing, with half coming from Los Angeles-based Colony Financial Inc.

Tuesday, April 12

Microsemi Prevails With Upped Offer for Defense Electronics Maker

Irvine-based chipmaker Microsemi Corp. has prevailed uncontested with a higher offer for a Camarillo-based defense electronics maker.

Former Beckman Coulter CEO Joins Investment Firm

Scott Garrett, a former chief executive of Brea-based Beckman Coulter Inc., has a new job.

Trade Gap Falls in Feb as Trade Contracts

The U.S. trade deficit shrank in February as a slowdown in demand both at home and abroad hit imports and exports, prompting analysts to scale back their forecasts for U.S. economic growth in early 2011.

Cisco Kills Flip Camera in Reorganization

Cisco Systems Inc. will ditch its Flip video camera division as it overhauls its troubled consumer business, following Chief Executive John Chambers' recent admission that the company had lost its way.

Oil Price Drops More Than 3%

Oil tumbled more than 3% after Goldman Sachs warned investors that crude is due for a "substantial pullback."

Alliance HealthCare Buying Cancer Surgery Provider

Newport Beach-based Alliance HealthCare Services Inc. said Tuesday that it is buying a Tennessee cancer surgery company for about $53 million in cash and debt.

Fisker Raises $40M, Total at $1B in Private, Public Money

Irvine-based luxury hybrid auto developer Fisker Automotive Inc. has raised $40 million in additional investor funding, bringing its total in public and private money to more than $1 billion.

Nursing Home Operator Skilled Considering Sale of Real Estate or Entire Company

Foothill Ranch-based nursing home operator Skilled Healthcare Group Inc. is looking at a potential sale of the company.

Monday, April 11

Mission Hospital Chief Executive To Step Down

St. Joseph Health System said Monday that Peter Bastone, the longtime president and chief executive of its Mission Hospital, would resign on June 30 to pursue other opportunities.

Nasdaq, ICE Not Walking Away From NYSE Bid

Nasdaq OMX Group and IntercontinentalExchange Inc. are not going to walk away from their bid for NYSE Euronext despite the NYSE board's rejection of the unsolicited offer, according to people familiar with the matter.

PIMCO Now Betting Against U.S. Government Debt

The world's largest bond fund began betting against U.S. government debt last month on the expectation that shaky finances will jolt interest rates higher.

Dow Gains After Endo, Level 3 Announce Deals

More corporate deals and hopes for a strong first-quarter earnings season led the Dow Jones industrial average to early gains. The broader market was mixed.

Big Name Board

First American Directors: Tenured, High Profile

First American Financial’s board includes some of the county’s biggest names

Tease photo

Sunday, April 10

Sun Healthcare: Buys Possible Following Real Estate Spinoff

PUBLIC COMPANIES - Profiles of the biggest: No. 9 Sun Healthcare Group Inc.

Quiksilver Cuts Debt, Eyes Growth

PUBLIC COMPANIES - Profiles of the biggest: No. 10 Quiksilver Inc.

REAL ESTATE DEALS

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

REAL ESTATE WATCH: WEST ORANGE COUNTY

M&W Spurs Activity; Class A Gains Expected to Trickle Down

West County’s manufacturing and warehouse segment is seeing more activity. Includes Real Estate Watch industry performance charts.

Tease photo

Fight Over Medical Device Tax Starts With IRS Letter

Customers Fear Pass-Along; Manufacturers Want Repeal

Healthcare groups sent a letter to the IRS about device makers, in Healthcare

Affinity’s ‘Off-Market’ Deal Points to Tight R&D Field

Search for 42,000 SF Took 15 months; 94 Cents a Foot

Affinity Medical Technologies has relocated to Costa Mesa, in Real Estate

USA Water Polo Has Hot Streak on New Sponsorships

Good Through Olympics; Lifestyle Brands Sign Up

USA Water Polo has been nabbing sponsorships, in Media and Marketing

Solarflare Strikes Sales Pact With Local Unit of Fujitsu

Solarflare Eyes More Sales of Chips, Network Boards

Solarflare has struck a partnership with Fujitsu, in Technology

Tease photo

CALENDAR - April 11-20, 2011

A listing of events happening all around Orange County. April 11-20, 2011

Tease photo

NEWS OF THE WEEK

Stories in this week’s Orange County Business Journal

Allergan Eyes New Botox Uses, Spending on R&D

PUBLIC COMPANIES - Profiles of the biggest: No. 5 Allergan Inc.

Tease photo

Big Challenge on For-Profit Campus

PUBLIC COMPANIES - Profiles of the biggest: No. 8 Corinthian Colleges Inc.

Beckman Caps Troubled 2010 With Danaher’s $6.8B Buyout

PUBLIC COMPANIES - Profiles of the biggest: No. 7 Beckman Coulter Inc.

First American Steady, Sees Tough First Year After Split

PUBLIC COMPANIES - Profiles of the biggest: No. 6 First American Financial Corp.

Tease photo

Gold Drives Spectrum’s Sales, Profit Another Matter

PUBLIC COMPANIES - Profiles of the biggest: No. 4 Spectrum Group International Inc.

Tease photo

Broadcom Revenue Surge Propels Chipmaker’s Rank

PUBLIC COMPANIES - Profiles of the biggest: No. 3 Broadcom Corp.

Tease photo

Big Gains, Acquisition Ahead for Western Digital

PUBLIC COMPANIES - Profiles of the biggest: No. 2 Western Digital Corp.

Tease photo

Ingram Holds Public Company Crown, Sees Big 2010

PUBLIC COMPANIES - Profiles of the biggest: No. 1 Ingram Micro Inc.

Tease photo

Bridgford Hedge on Commodities: Adapt Operations, Innovate

FOOD: New distribution plan, “monkey bread” offset spikes

Bridgford Foods is adapting as it deals with rising commodity and oil costs.

Tease photo

Then, Now: Top Public Companies Expand, Shift Since 2001

PUBLIC COMPANIES: A look at how the list of OC public companies has changed since 2001

Big Acquisitions Offset Spinoffs, Other Public Company Newbies

WALL STREET: Acquisitions nearly double that of newcomers

PUBLIC COMPANIES: ABOUT THE LIST - Acquisitions and spinoffs added to this year’s list of local public companies. Includes the 2011 OC's LARGEST PUBLIC COMPANIES list for download (pdf)

Rebound Plays Out at Public Cos.

ECONOMY: 2010 sales up big, profits surge; more gains seen

PUBLIC COMPANIES: OC’s largest public companies saw a big rebound last year

Tease photo

Corinthian Links to Employers for Grad Hires

EDUCATION: Possible boost in placements amid feds’ scrutiny

Corinthian Colleges recently struck a deal with employers to hire its grads

Tease photo

Single Product Fuels Questcor Growth

HEALTHCARE: Drug maker ups forecast, builds up own sales team

Questcor Pharmaceuticals’ business strategy is centered around one drug

Tease photo

Grubb’s Fate Turns on End of Waiting Game

REAL ESTATE: Colony has first crack after $18M financing deal

Grubb & Ellis is in a holding pattern as it tries to sell itself.

Branson, Stearnses Jet-Hop in SoCal; $5M UCI Gift

OC INSIDER Column by Rick Reiff

Sunstone Shift Targets Brand-Name Hotels

HOTELS: Preferred shares to fund deals in race for bargains

Sunstone Hotel Investors is looking for deals as part of a new strategy

Tease photo

Friday, April 8

SunCal Outbids Lehman, Others for SoCal Projects

Irvine-based master developer SunCal Cos. is set to retain ownership of three big developments in California, after being the winning bidder in a bankruptcy auction this week, according to reports.

Budget Deal Elusive, Government Shutdown Looms

With a government shutdown looming in hours, the White House and Congress worked furiouslyto break a budget deadlock that could idle hundreds of thousands of workers.

SEC's Schapiro Says Private Co's Review in Early Stages

U.S. securities regulators are in the early stages of reviewing rules governing share issuances by private companies, Securities and Exchange Commission Chairman Mary Schapiro said.

J&J Settles Bribery, Kickback Allegations: SEC

Johnson & Johnson has agreed to pay $70 million to settle U.S. charges that it paid bribes and kickbacks to win business overseas, the first major pharmaceutical company to settle since the Obama administration began its scrutiny of the industry more than a year ago.

Report: Broadcom Eyeing CEO's Former Company, NXP

Irvine chipmaker Broadcom Corp. could be in the running to acquire NXP Semiconductors NV of the Netherlands, according to a report in a Dutch newspaper.

Thursday, April 7

Report: Lakers Mounting Push Against Kings' Anaheim Move

For the Sacramento Kings to move to Anaheim, the basketball team will have to go through Los Angeles. Literally.

Retailers Surprise With March Sales Strength

U.S. shoppers bought spring clothing along with more expensive food and gasoline in March, pushing sales at many chains up more than expected.

ECB Hikes Rates, Ready to Move Again if Necessary

The European Central Bank raised interest rates for the first time since the 2008 financial crisis and signaled it was ready to tighten policy further if needed to check rising prices.

Congress Edges Toward Spending Deal

Congress neared a budget deal to avert a looming government shutdown but disputes over abortion and environmental issues posed late hurdles to a final agreement.

Wet Seal Sees March Sales Gain

Foothill Ranch-based mall clothing retailer Wet Seal Inc. reported better than expected March sales led by its division for teen girls.

Wednesday, April 6

El Pollo Loco Parent Affirms Scheduled Debt Payment

The parent of Costa Mesa-based El Pollo Loco Inc. said on Wednesday it plans to make a debt payment to bondholders scheduled for next month after concerns were raised about its possibility to do so.

Biolase Technology Shares Soar on Improved Revenue Forecast

Irvine dental laser maker Biolase Technology Inc. said Wednesday that its first-quarter revenue would exceed previous guidance, sending its shares up.

Dish Wins Blockbuster Auction For $320 Million

Dish Network Corp. won Blockbuster Inc. in a bankruptcy auction for about $320 million, boosting the satellite TV provider's online features and marketing reach.

D.Boerse Will Not Raise NYSE Bid

German exchange giant Deutsche Boerse has no plans to raise its agreed $10.2 billion bid for peer NYSE Euronext, although its offer has been trumped by U.S. rivals, a source familiar with talks said.

Gold, Silver Stocks Rise as Bullion Hits New Highs

Shares of most North American gold and silver miners rose, with the price of the precious metals touching new highs as a weak U.S. dollar and unrest in the Arab world raised investor demand for safe-haven assets.

Microsemi Tops Offer for Defense Electronics Maker

Irvine-based chipmaker Microsemi Corp. has upped the ante for a Camarillo-based defense electronics maker.

Tuesday, April 5

Pimco REIT Files $600 Million IPO

Newport Beach’s Pacific Investment Management Co. has filed documents with the Securities and Exchange Commission to raise $600 million in an initial public offering to launch a new real estate holding company.

No Budget Deal After White House Talks

Republicans and Democrats failed to reach agreement during White House talks aimed at forging a budget deal that would keep the U.S. government operating beyond Friday.

Google Shares Fall on Fears of U.S. Probe

Shares of Google Inc. fell nearly 3%, following a Bloomberg report that the U.S. Federal Trade Commission is considering an antitrust investigation of the company's dominance of the Web search industry.

Icahn, Dish, Liquidators Vie for Blockbuster

Billionaire investor Carl Icahn, Dish Network and a pair of liquidation firms are among the bidders for video-rental chain Blockbuster in an auction at U.S. Bankruptcy Court in New York.

Richard Branson Outlines Deep-Sea Submarine Voyages in Newport Beach

Billionaire Richard Branson was in Newport Beach Tuesday to unveil plans for his latest adventure: exploring the depths of the world’s oceans.

Monday, April 4

Drug Maker Questcor’s Shares Rise on Higher Sales Projection

Shares of Anaheim-based Questcor Pharmaceuticals Inc. shot up in Monday afterhours trading after it issued a higher-than-expected first-quarter revenue forecast.

McDonald's Takes Aim at "McJob" With U.S. Hiring Spree

Fast-food chain McDonald's Corp. announced a one-day spring hiring spree aimed at fighting the use of the term "McJob" as shorthand for describing low-wage, dead-end work.

Southwest Cancels More Flights Amid Inspections

Southwest Airlines Co. canceled 70 flights as it continued to inspect Boeing 737 planes following the emergency landing on Friday of a jet with a hole in its fuselage.

Banks, Credit-Card Issuers Warn of Email Breach

With the possible theft of millions of consumer email addresses from an advertising company, several large companies have started warning customers to expect fraudulent emails that try to coax account login information from them.

Epicor Being Acquired for $976 Million

Irvine-based business software maker Epicor Software Corp. is being bought for $976 million by London-based private equity firm Apax Partners LLC.

Sunday, April 3

Biomed’s Big Role

VIEWPOINT

John Paglia urges local lawmakers to advocate policies that spur inovation

REAL ESTATE DEALS

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

Santa Ana Office High-Rise Up For Sale; $60M Range?

Highridge Paid $31M for Building at Market’s Low

An L.A. investor eyes a profit on an OC building, in Real Estate

Tease photo

Restructuring Takes Medical Scanner Private, Debt Free

Insight Under New Owner; Eyeing Growth With Deals

Insight Health Services has gone private after a bankruptcy, in Healthcare

The Dot: Digital Trend Requires Step Beyond Tradition

Sees Print Work Falling to 30% in Next Five Years

The Dot Printer is evolving to keep market share, in Media and Marketing

Tasty Economic Indicators in Round of Restaurant Openings

Fashion Island, Spectrum Center See New Eateries

Fifi Chao sniffs out Irvine’s best-kept secret, in Executive Dining

Tease photo

Entrepreneur’s Niche: Chlorine-Soaked Triathletes, Swimmers

SPORTS: SBR sells specialty hair, skin products, others

INNOVATION: Santa Ana’s SBR Sport is helping athletes maintain their looks

Tease photo

Heart Device Maker Being Acquired for $22 Million

HEALTHCARE: Cardiogenesis’ Irvine HQ set to eventually close

Device maker Cardiogenesis is being bought by Georgia’s CryoLife

Tease photo

Chinese Buyer Pays $6.2 million for Linda Isle Home

Deal Done With Cash at Slightly Below Listing

Foreigners are showing interest in wealthy neighborhoods, in Luxury homes

Tease photo

NEWS OF THE WEEK

Stories in this week’s Orange County Business Journal

MARKET WATCH

The Week's Best, Worst Performers; Roth OC50, Billion Dollar Club, OC Tech; Index Watch, 52-week Performance

Tease photo

CALENDAR - April 4-13, 2011

A listing of events happening all around Orange County. April 4-13, 2011

Tease photo

St. John Knits: Timing, Fit Drive Consolidation

APPAREL: Giving up lease on Michelson, shifts Irvine workers

St. John Knits is consolidating manufacturing operations in the county

Tease photo

Wahoo’s Lam, Insurance Guys Ride Herd at Horse Nonprofit

NONPROFIT: Mustard Seed uses horses to help abused kids

BEYOND WORK - Businesspeople at play, charity: Mustard Seed Ranch uses horses to help abused kids

Tease photo

Stability, Sales Growth Eyed as Boost Shakes Out Latest Buy

TECHNOLOGY: Smith putting “life back” in Irvine hub office

Boost Mobile is seeing stability after a rocky combination with Virgin Mobile

Raj Manufacturing Signs Licensing Deal; Part of Nautica Growth Plan

Apparel: Deal’s first swimsuits expected in stores this month

Tustin-based Raj Manufacturing Inc. said it struck a deal to sell women’s swimsuits under the Nautica Apparel Inc. brand.

Tease photo

Ingram Takes Aim at Higher Margins With Cloud Service

TECHNOLOGY: Distributor seeks new role, revenue in trend

Ingram Micro is branching into cloud computing

Yogurtland’s Goal: From Hot to Sustainable

RESTAURANTS: Irvine chain riding high, mindful of pitfalls

Yogurtland is looking at new ways to grow as its novelty starts to wear off

Calling Rich Bruins: UCLA Keepsake On Auction Block

OC INSIDER Column by Rick Reiff

Circuit Board Maker Finds Grass Greener in S. Dakota

Legacy Electronics Moves HQ, Leaves San Clemente

Legacy Electronics has moved to South Dakota, in Technology

Tease photo

Boat Show Backdrop: Rising Tide?

YACHTS: Sales improving after downturn, still off market’s peak

Local yacht sellers are optimistic as the Newport Boat Show fast approaches

Tease photo

Shea’s Comeback: Apartments, Stores

REAL ESTATE: Tustin now in rearview; projects in SD, Oxnard

Shea Properties is looking to grow again after pulling back in the downturn

Tease photo

Companies Deal With Japan Fallout; Q2 Impact?

TECHNOLOGY: Japanese units here bear brunt, others disrupted

Local companies might see shortages after the Japan earthquake and tsunami

Tease photo

Royal Reach

NBA Team Would Boost Honda Center Business, Bring Challenges

The Sacramento Kings could boost business at Honda Center

Tease photo

Medicare Probe On Hold, Device Makers On Guard

HEALTHCARE: No action from Issa; industry making own case

No news is good news for medical device makers when it comes to a possible probe into whether the federal Medicare system is paying too much for their products.

Tease photo

REAL ESTATE WATCH: Research and Development Space

R&D: Absorption Up, But Rents Still Falling

The county’s research and development sector is still seeing falling rents

Tease photo

Sure Sign of Improvement: ‘We Need More Supply’

Brokers close 2010 with bang, end four-year dip; cautious but hopeful for more gain this year

ABOUT THE LIST: Orange County’s top brokers reversed a four-year streak of declines in business in 2010, thanks to gradually improving market conditions and a flurry of big-dollar deals that closed late in the year. Includes the 2011 OC's TOP COMMERCIAL REAL ESTATE BROKERS list for download (pdf)

Tease photo

Slow Progress on Central County ‘Zombie’ Buildings

Sales, court-appointed receivers start to clear decks on big office buildings in post-peak distress

There are signs that some of the zombie buildings of Central Orange County’s high-end office market are about to come back to life.

Tease photo

Commercial Construction Cranks Up

High-End Office, Major Industrial Development First Big Projects in Years

Commercial development in Orange County isn’t anywhere near the levels seen during the last boom years, but there are a few shovels getting ready to break ground on the first big projects in some time.

Tease photo

Wyndham Makeover Aims to Catch Caché of Segerstrom Scene

HOTELS: Expected growth of arts district drives $14M outlay

The Wyndham Orange County is revamping its facilities and image

Tease photo

Friday, April 1

Resources Connection Shares Fall on Quarterly Results

Shares of Irvine-based Resources Connection Inc. slumped Friday, a day after the professional services company reported quarterly results that missed analysts' expectations.

March Automaker Sales Rise

Automakers here continued to post sales gains in March despite growing uncertainty surrounding gas prices and the aftereffects of the earthquake and tsunami in Japan.

Santa Ana's Far West Picks Up Whittier Condo Project

Santa Ana developer Far West Industries Inc. has picked up a condominium project in Los Angeles County once valued at $40 million that had gone back to the bank, according to a report in the Whittier Daily News.

Employment Jumps in March, Jobless Rate Falls

U.S. employment recorded a second straight month of solid gains in March and the jobless rate fell to a two-year low of 8.8%, underscoring a decisive shift in the labor market that should help to underpin the economic recovery.

American Apparel Posts Yearly Loss, May File for Bankruptcy

Floundering hipster brand American Apparel posted a loss of $86 million in 2010, and said it may have to file for bankruptcy protection if it did not manage to get enough funds to keep going, a filing dated March 31 said.

February Construction Activity Drops 1.4%

Builders started work on fewer homes, apartments and government projects in February, pushing construction activity down to the lowest level in more than a decade.

Sunstone Hotel Raising $100M in Stock Offering

Aliso Viejo-based hotel owner Sunstone Hotel Investors Inc. has priced 4 million shares of preferred stock in an offering that’s set to raise $100 million before fees.