APPAREL
Hoby Darling, former general counsel of clothing label Volcom Inc. is headed for Beaverton, Ore.-based Nike Inc. Darling was with Costa Mesa-based Volcom for six years as general counsel and senior vice president of strategic development. He’ll start as head of strategy and planning for Nike’s Affiliates division next month. The division includes Nike-owned brands such as Hurley International LLC, Converse Inc. and Cole Haan.
MANUFACTURING
San Juan Capistrano-based Fluidmaster Inc. bought U.K.-based Opella Limited for undisclosed terms. Fluidmaster is a major maker and marketer of toilet-tank parts, with sales in 80 countries. Opella makes toilet valves and other products.
Michael Dodson resigned as senior vice president and chief financial officer of Anaheim-based circuit maker DDi Corp. to take a similar role at Mattson Technology Inc. in Fremont. Wayne Slomsky, DDi’s vice president and chief accounting officer, has been appointed interim finance chief.
MEDIA
A plea agreement reached with a film industry executive in an email hacking case has made waves among camera manufacturers and Hollywood, with a list of victims that appears to include Lake Forest-based Red Digital Cinema Camera Co. Michael Bravin, former vice president of market development for digital cameras at German film equipment manufacturer Arri Group, struck a plea bargain last week. He admitted that he accessed a computer owned by rival camera company and former employer Band Pro Film & Digital Inc. in Burbank. The incident might have left some companies vulnerable. Red Digital Camera founder Jim Jannard, in a post on the company’s user forum, said his email account had recently been hacked. “We knew something was up when the feds raided Arri and Michael Bravin’s home several months ago,” Jannard told the Business Journal. “It wasn’t until recently that we understood just how extensive the hacking was and what effect it had on the competitive landscape of our business.” Red Digital makes cameras used to film movies and television shows.
RETAIL
The Orange County Fair Board voted to evict Tel Phil Enterprises, which has operated a swap meet at the 150-acre property for 42 years. The move against Tel Phil’s Orange County Market Place followed months of back-and-forth on the fees Tel Phil pays to use a portion of the fairgrounds and available dates for its swap meet. Jeff Teller, owner of the company, expressed shock at the decision on the eviction, which will not happen for another 18 months. It remained uncertain whether Teller will challenge the decision.
Wal-Mart Stores Inc. signed leases in Irvine and Huntington Beach and plans to open two more of its larger-format stores. They will bring the retailer’s total in Orange County to 18. Wal-Mart also is eyeing space here for smaller-format stores called Neighborhood Markets (see related story, page 1).
PEOPLE
Nine of Orange County’s 12 billionaires made Forbes’ list of the 400 wealthiest individuals in America. Donald Bren, chairman of Newport Beach-based developer Irvine Company, once again led the local contingent. Bren topped the Orange County Business Journal’s ranking of the wealthiest individuals here, published in early August, when we estimated his net worth at $12.5 billion. Forbes ranked Bren 26th nationwide, with an estimated $12 billion. The Business Journal’s list and Forbes’ use a variety of methods to come up with rankings, and variances between the two are common. Forbes’ list reflects estimates as of September, a time frame that takes in a recent run of tumult in the stock markets, which likely affected some estimates. Other local billionaires on Forbes’ list include: Jim Jannard, who sold Oakley Inc. to Italy-based Luxottica Group SPA in 2007, ranked No. 117, with a net worth of $3 billion; David Sun and John Tu, co-owners of Kingston Technology Co. in Fountain Valley, No. 130, with $2.8 billion each; Igor Olenicoff of Newport Beach-based Olen Properties Corp., No. 150, at $2.6 billion; Broadcom Corp. cofounder and Anaheim Ducks owner Henry Samueli, No. 263 , at $1.7 billion; Broadcom cofounder Henry Nicholas, No. 331, at $1.3 billion; Bill Gross, cofounder of Newport Beach-based Pacific Investment Management Co., No. 188 at $2.2 billion; George Argyros, owner of Arnel & Affiliates, No. 260 at $1.75 billion.
ECONOMIC INDICATOR
UP: The outlook for the statewide housing market, with a 1% gain in sales, to 496,200, and a 1.7% increase on median price, to $296,000, expected next year, according to the California Association of Realtors. The sales increase would be the first in three years. The increase on median price would follow a 4% decline projected by the trade group for this year.
