Stories for February 2012

Wednesday, February 29

Blizzard to Cut 600 Employees

Irvine-based online game maker Blizzard Entertainment Inc. plans to cut 600 employees from its global operation for the “long-term health” of the company, Chief Executive and cofounder Mike Morhaime said Wednesday.

FDIC Shutters Home Savings of America

Little Falls, Minn.-based Home Savings of America, which ranked as the fifth-largest thrift in Orange County based on local deposits, has been closed by federal regulators.

Bob Gray, St. John Knits Cofounder, Dies at 86

Robert E. Gray, co-founder of Irvine-based St. John Knits International Inc., died Tuesday.

Monarch HealthCare Sued by Blue Shield

Blue Shield of California said today that it is suing Irvine-based Monarch HealthCare, A Medical Group Inc.

Dellerba to Keep Post at Pacific Mercantile Bank

Costa Mesa-based Pacific Mercantile Bancorp Inc. Chief Executive Raymond Dellerba will remain in the same post for its subsidiary, Pacific Mercantile Bank.

Tuesday, February 28

MemorialCare Buys Doctors’ Management Group

Fountain Valley-based hospital operator MemorialCare Health System said today that it bought Nautilus Healthcare Management Group in Newport Beach, which provides management services for Greater Newport Physicians. Terms were not disclosed.

Freedom to Pay $15.5 Million More in Carrier Lawsuit

Irvine-based Freedom Communications Inc. will pay $15.5 million to settle a long-running lawsuit brought against it by a group of newspaper carriers, taking its total payment in the class-action case to $30 million.

Fisker Names LaSorda CEO

Tom LaSorda has been named chief executive of Anaheim-based luxury hybrid automaker Fisker Automotive Inc.

CoreLogic Opts Against Sale, Highfields Calls for Changes

Santa Ana-based CoreLogic Inc. has opted against moving ahead on a potential sale, a decision that’s not being taken well by one of the largest institutional investors of the data and analytics company.

Blue Shield, Hoag in ‘Accountable Care’ Partnership

Hoag Memorial Hospital Presbyterian, with locations in Newport Beach and Irvine, said it would work with insurer Blue Shield of California on a three-year “accountable care” organization.

Pacific Mercantile Swings to Profits

Costa Mesa-based Pacific Mercantile Bancorp swung back to profits for the fourth quarter of 2011 and the full year.

Monday, February 27

Billabong Breaks Off Talks With TPG

Australia-based Billabong International Ltd. said Monday it has broken off talks with private equity firm TPG Capital Partners LP after the two were unable to agree upon a price for the apparel company.

Billabong Gives TPG Chance to Revise Bid

Australia-based Billabong International Ltd. has rejected a $825.3 million buyout offer from private equity firm TPG Capital Partners LP but left the door open for a higher bid.

Chapman to Join Keck in Biopharm School

Chapman University in Orange is teaming with the Keck Graduate Institute of Applied Life Sciences in Claremont to start a biopharmacy school.

Kings Set to Skip Anaheim, Stay in Sacramento

It looks like Henry Samueli and Orange County will have to wait for another opportunity to land a professional basketball team.

Saturday, February 25

Travelers Club Luggage in Move to La Palma Warehouse

Dexus Fills Up West OC Bldg. Bought for $18.3M

Australian real estate investor Dexus Property Group fills up La Palma warehouse it bought last summer, in Real Estate

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By the Numbers - HOMEBUILDERS

There are approximately 800 homebuilders in Orange County.

Chinese Deals Promise Billions for Broadcom

TECHNOLOGY: Cover three years; Qualcomm also in mix

Broadcom Corp. could add nearly $1 billion in revenue in each of the next three years on deals signed last week to supply chips for two rival Chinese telecom companies.

Center of It All

Club Includes Prominent, Aims for Next Generation

Center Club counts prominent, aims for next generation

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Upward Mobilitie: Jabara Poised as OC Deal Maker

Eyes Buys in Wake of $1.1B Sale of Cell Towers

Upward Mobilitie: Put Jabara Down as OC deal maker

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Billabong Considering $825.3M Private-Equity Offer

APPAREL: TPG to allow apparel maker to sell stake in Nixon brand

Sale of Billabong USA’s Australia-based parent still on the table

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Kia Takes on Motorsports as Next Step in ‘Evolution’

AUTOS: Sponsorships ongoing, performance vehicles in works

Kia Motors America Inc. got its first taste of victory on the track last year and has no plans of stopping there

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Marine Center Goes for $24.9M

REAL ESTATE: 36,000 SF of office, retail in N.B.

Mariner’s Mile Marine Center has traded hands for $24.9 million

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Home Sales Down Overall, Single-Family Up 21%

Change to tracking closings affects comparison to 2010

Orange County’s homebuilding industry turned in mixed results last year, with single-family up and condos dragging. Includes the 2012 OC's TOP HOMEBUILDERS list for download (pdf)

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Agent Sells Childhood Home Above Asking Price

$8M Offer Snags Property On Peninsula Point

Agent sells childhood home above asking price, in Luxury Homes

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Wanted: Best Places to Work for Business Journal’s Annual List

CALL FOR ENTRIES: Website set to take entries until April 20

Wanted: Best places to work for the Business Journal’s annual list

Billion-Dollar Asterisk; Register Talk Heats Up; Fisker Impresses

OC INSIDER Column by Jerry Sullivan

Davidson Mulls Regional Hub in OC

FINANCE: Plan follows buy of McGladrey Capital in Costa Mesa

D.A. Davidson & Co. mulls move of Los Angeles investment-banking office to Orange County after acquisition here

REAL ESTATE WATCH: ORANGE COUNTY RETAIL MARKET

Consumer Confidence Seems to Lift OC Retail

The retail market outlook continues to improve. Includes Real Estate Watch industry performance charts.

Report From New Orleans: Newport Beach Exec Leads Bid for NBA Team

SPORTS: Local bidder for NBA team

CALENDAR - February 27-March 7, 2012

A listing of events happening all around Orange County.

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Grubb Sale Points to N.Y. Merger

REAL ESTATE: Buyer got Newmark Knight last year

Grubb & Ellis Co. in $30 million deal for most of assets

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REAL ESTATE DEALS

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

Del Taco Plans Expansion in Georgia

RETAIL: Chain also adds, promotes key corporate execs

Lake Forest-based fast food chain Del Taco LLC opens a company-owned restaurant in Snellville, Ga.

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Blytheco Expands Lineup Beyond Sage Software

Expands Customer-Relations Management Products

Biggest reseller of Sage business software has begun selling products from additional businessproduct companies, in Technology

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DDi Plans to Up Efficiency in Move From 8 Buildings to One

TECHNOLOGY: Circuit-board maker stays in Anaheim Canyon

DDi’s move to a new headquarters intended to help the company churn out circuit boards more quickly, efficiently

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St. Joseph-Owned Hospital Bids $35M for Victor Valley

HEALTHCARE: Would spend another $25M on upgrades

A hospital owned by Orange-based St. Joseph Health System offers $35M for a Victorville hospital in U.S. Bankruptcy Court

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Multi-Family Mania

Big Projects Spring Up, Prices Surge

Multi-family on the mind: big apartment projects spring up, complex prices surge

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Real Mex Management Expects to Carry On

RESTAURANTS: Pending sale would trim debt amid makeover

Investment group in line to take over Real Mex Inc. appears set to keep management on board

Sprague: Kia Motors’ Car Intros ‘Dream Come True’

By Contrast, No New Launches for 2012

Sprague: Kia Motors likes motorsports, in Media and Marketing

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Big Home Projects Under Way in ‘Healthier’ Irvine

City sprouting Portola Springs, Great Park, Lambert Ranch

Stretch of land in North Irvine is set to see three competing visions of neighborhood-building move ahead in earnest

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Yamaha’s New Tune: Buena Park Consolidation

MARKETING: Instruments, audiovisual units aim to cut costs

Japan-based Yamaha Corp. will consolidate its Buena Park-based music company with its consumer electronics subsidiary on April 1

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ADDENDUM - February 27, 2012

Other items of interest Orange County Business Journal

Danaher Gets Benefits From Beckman Acquisition, Cost Cuts

Revenue Surges While New Owner Lops Costs

Danaher Corp. gets boost from its acquisition of Beckman Coulter Inc., in Healthcare

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Acacia Growth Strategy Shifts to Patent Buys

TECHNOLOGY: Raises $225M for buys; higher margins seen

Acacia Research is shifting its growth strategy as the patent licensing market continues to gain acceptance as an asset class

Friday, February 24

OC Bidder for NBA Team in New Orleans

The founder of Orange County’s largest swimwear maker has the leading bid to buy the New Orleans Hornets basketball team, according to the New Orleans Times-Picayune.

Thursday, February 23

Investment Bank Eyes OC as Regional Hub After McGladrey Buy

D.A. Davidson & Co. is leaning toward consolidating its Los Angeles investment banking office to Orange County in the wake of its recent acquisition of McGladrey Capital Markets LLC in Costa Mesa.

Masimo Signs Deal With GE Healthcare, Shares Rise

Irvine-based patient monitor maker Masimo Corp. said today that it has signed a deal with GE Healthcare, the United Kingdom-based unit of Stamford, Conn.-based General Electric Co.

Smith Micro Shares Up on Design Win

Shares of Smith Micro Software Inc. got a boost Thursday after the Aliso Viejo company announced a design win with a big cell phone maker.

Wednesday, February 22

Mixed Q4 Results, Record Orders for Newport Corp.

Irvine-based laser maker Newport Corp. on Wednesday reported mixed results for the fourth quarter and gave a revenue outlook for the current quarter and full year above Wall Street estimates.

Questcor Pharmaceuticals Beats Wall Street

Anaheim drug maker Questcor Pharmaceuticals Inc. today posted fourth-quarter results that surpassed analysts’ expectations.

Opus Opens Offices in Irvine, Encino, La Jolla

Irvine-based Opus Bank today opened a new office on Alton Parkway in Irvine along with locations in Encino and La Jolla.

Del Taco Makes Executive Changes

Lake Forest-based Del Taco LLC announced a number of executive appointments in operations, marketing and finance.

Tuesday, February 21

Grubb & Ellis Files for Bankruptcy, Selling Assets to BGC Partners

Santa Ana-based Grubb & Ellis Co. said on Tuesday that it has filed for bankruptcy and will sell "substantially" all of its assets to New York-based brokerage BGC Partners LP. "

Monday, February 20

Billabong Considers Sale to Private Equity Firm

A sale of Irvine-based Billabong USA’s Australian parent is still on the table after a private equity firm submitted a revised bid to buy the action sports apparel company.

Saturday, February 18

By the Numbers - Orange County Savings and loans

Orange County has 64 savings and loans branches and offices.

REAL ESTATE WATCH: inland empire

Inland Empire Mounting Modest, Recovery

Industrial, office markets in the IE continued to mark only the most modest signs of recovery through December

New Ingram Boss: Need to Drive Faster

TECHNOLOGY: Wants higher margins, smoother operations

Ingram Micro Inc. chief executive identifies several key areas for improvement since taking the helm

In-Flight Soars

OC Global Hub for Planes’ Entertainment Systems

Orange County global hub for planes’ entertainment systems

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That’s Mr. Surfer Dude

APPAREL: O’Neill, Hurley join push to keep 30-and-over crowd

O’Neill Clothing, Hurley International join push for 30-and-over crowd

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Greenlight to Add Another 500 Jobs

FINANCE: Looks beyond re-fi market; will double office space

Irvine-based residential mortgage lender Green-light Financial Services Inc. says it’s found a sweet spot in the still-sour housing market

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CALENDAR - February 21-29, 2012

A listing of events happening all around Orange County.

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MARKET WATCH - February 20, 2012

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

Class-Action Filing: Powerwave Misled on Finances

Tower Technology Maker Hit by Long Share Slide

Class-action filing: Powerwave Technologies Inc. misled on finances, in Technology

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UCI Prof: Healthcare Coverage Cuts Costs Over Time

Project Tracks Hospital Use by Newly Insured

UC Irvine professor: Healthcare coverage cuts costs over time, in Healthcare

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Action Sports Brand’s Lease Raises OC Profile

APPAREL: Park, other perks for new design center in Irvine

A number of action sports apparel makers are expanding their operations in Orange County

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REAL ESTATE DEALS

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

Lyon Revamp Yields Less Debt, New Board

REAL ESTATE: Homebuilder adds three directors as four depart

William Lyon Homes revamp yields less debt, new board

By the Numbers - Orange County Bank offices and branches

Orange County has about 590 bank branches and offices, with more than 7,600 employees.

Small But Scrappy

Community banks consolidate, target, diversify in tough market

Community lenders consolidate, target, diversify in tough market

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Stance Gets SIMA Award as Breakthrough Surf Brand

Surf Industry Manufacturers Association’s Image Awards draw almost 800

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Commercial Banks Up 2.5% on Deposits, S&Ls Post 9.1% Gain

BofA repeats atop local field; five S&Ls grow, four decline

ABOUT THE LIST: Deposits at OC commercial banks continued to grow at about the same pace as a year earlier, while S&Ls saw a slowing in rate of overall growth. Includes the 2012 OC's TOP COMMERCIAL BANKS, and TOP SAVINGS $ LOANS lists for download (pdf)

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Smith Back to CEO Post at Quest Software

Smith shifts back to chief executive’s post at Quest Software Inc.

Q&A: Finance

What kind of loans are borrowers seeking, and are businesses better risks?

What kind of loans are borrowers seeking, and are businesses better risks?

Tech Coast Angels’ Funding Up 25%

Tech Coast Angels’ funding up 25%

CEO’s ‘Epiphany’ in Paraguay

Why Smile Brands Takes Its Best to Those in Need

BEYOND WORK - Smile Brands chief executive’s trip to Paraguay led to business epiphany

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Mazda Trumpets Innovative Technology in New Spots

Automaker Offers Option to Boost Fuel Efficiency

Next chapter in Mazda North American Operations’ brand story touted in new TV, online commercials, in Media and Marketing

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Jannard: Digital Projector, 500 More Jobs in OC This Year

MEDIA: Red’s next product set for production in Irvine

Red’s Jannard: digital projector, about 500 more jobs in Orange County this year

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244,800 SF Lease in Fullerton: The Bottler Did It

REAL ESTATE: Biggest in past year; adds to Anaheim operations

Nor-Cal Beverage Co. is expanding its local presence with a big lease at a Fullerton industrial building

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Developers Start to Move Tight Industrial Space

Class A in Shortest Supply; Rents Likely to Rise

Dearth of available high-end industrial space in OC is starting to prompt area developers back into the market, in Real Estate

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Quality Systems Rides Surge in Medical Paper Purge

HEALTHCARE: Stimulus aid sped move to electronic records

Medical-software maker Quality Systems Inc. expects the healthcare industry’s move to electronic medical records to quicken

Masimo Sees Sunny Year Ahead After Partly Cloudy ’11

HEALTHCARE: Acute-care, int’l form recent bright spots

Irvine-based medical-device maker Masimo Corp. is working toward what its chief executive calls a “brighter 2012”

Irvine Investor Gets 300 Acres in Corona

REAL ESTATE: 249-home project goes for $3.5M on courthouse steps

Irvine-based Foremost Communities Inc. snaps up one of the last big housing-development sites in Corona

St. Mary’s Gets $160,000 for Special Classroom, Staff

Hausman Nonprofit Assists Learning-Challenged Kids

PHILANTHROPY Column by Sherri Cruz

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ADDENDUM - February 20, 2012

Other items of interest Orange County Business Journal

Callahan’s Other Shoe; Moorad’s Big Gift; Ballet’s Split Decision

OC INSIDER Column by Jerry Sullivan

Friday, February 17

Del Taco Plans 60 Restaurants in Georgia

Lake Forest-based Del Taco LLC is planning a big comeback in the Atlanta area.

Broadcom Closes $3.7B NetLogic Deal

Irvine-based chipmaker Broadcom Corp. on Friday said it closed its $3.7 billion buy of NetLogic Microsystems Inc. in Santa Clara.

Local.com Shares Slump on Expected Q1 Loss

Shares of Irvine-based digital media company Local.com Corp. plunged nearly 12% in New York midday trading on an expected loss for the current quarter.

Billabong’s Americas Division Sees Sales Rise

The parent of Irvine-based Billabong USA reported sales for the six months through December in its Americas division rose 5.1% from a year earlier to $400.8 million in constant currency.

Thursday, February 16

Billabong Parent Sells Half of Nixon; Plans to Cut Stores, Employees

The parent of Irvine-based Billabong USA announced the sale of nearly half its Nixon accessories business to a private equity firm as part of a series of moves to reduce the company’s debt and other expenses.

Red Expects Digital Projector, 500 Hires This Year

A 3D projector from Irvine-based Red.com Inc.’s Red Digital Cinema Camera Co. will be made in Irvine and is expected to hit the market later this year.

Wednesday, February 15

Tech Coast Angels’ Investments Up

Irvine-based Tech Coast Angels today reported growth in the number of companies it provided with funding and the total amount of money it put into them last year.

New President at Kelley Blue Book

Irvine-based automobile information provider Kelley Blue Book Company Inc. has named Jared Rowe president.

Tuesday, February 14

Smith Adds CEO Duties at Quest

Vinny Smith is returning to the chief executive’s job at Quest Software Inc., the Aliso Viejo-based company announced minutes before releasing its fourth-quarter earnings today.

Powerwave Tumbles Again

Shares of Santa Ana-based Powerwave Technologies Inc. plummeted in extended trading Tuesday after the Santa Ana-based company disclosed more setbacks and a considerable revenue and profit drop in its fourth quarter earnings report.

Masimo Guidance Above Expectations

Irvine-based medical device maker Masimo Corp. today gave 2012 fiscal guidance and reported fourth-quarter results that exceeded analyst expectations on revenue and met projections for profits.

Specific Media’s Myspace Adds 1 Million Users

Irvine-based digital media agency Specific Media LLC said it has added more than 1 million new users to its Myspace social networking site since December.

Grubb & Ellis Chairman Steps Down

C. Michael Kojaian, chairman of Santa Ana-based Grubb & Ellis Co. and its largest individual shareholder, has stepped down from the board of the struggling commercial real estate company.

Monday, February 13

Ensign Buys in Oregon

Mission Viejo nursing home operator Ensign Group Inc. said today that it bought Connected Home Health of Portland, Oregon. A purchase price was not disclosed.

OC Companies Dominate SIMA Image Awards

The Aliso Viejo-based Surf Industry Manufacturers Association’s Image Awards attracted representatives of nearly 800 apparel companies, retailers and others in the action sports industry last week.

Saturday, February 11

Pujols Power Pack

Sales Up, Luxury Boxes Set, Billboard Blitz Ahead

Los Angeles Angels of Anaheim see season ticket sales surge in wake of their blockbuster free-agency signings, plan to build on momentum

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Northgate Gonzalez to Use $20M Loan for Expansion

RETAIL: Grocery chain targets mostly Hispanic shoppers

Northgate Gonzalez to use $20M loan for expansion

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Wanted: Best Places to Work in OC

CALL FOR ENTRIES: Website to take entries until April 20; employer, employee queries to follow

Wanted: Best places to work for the Business Journal’s annual list

MARKET WATCH - February 13, 2012

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

12-Month Profit Picture Mixed at Area Hospitals

UCI Medical, CHOC up strongly, some others dip; hiring slides

ABOUT THE LIST: Strong pre-tax profit growth from UC Irvine Medical Center, CHOC offset tumbles at other large hospitals. Includes the 2012 OC's HOSPITALS list for download (pdf)

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Q&A: Healthcare Reform

Q&A: Effects of reform. The Business Journal asked executives to discuss plans and concerns.

Benefits Exchange Gets Into Gear With $39M Grant

Board appoints top staff, seeks outside expertise

State’s fledgling health benefits exchange continues to gather momentum toward a 2014 launch

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Manufacturing 101

$14B Swedish Company Puts Metalworking Training Center in Cypress

Sweden-based metalworking tools maker Sandvik Coromant opens a training center in Cypress for manufacturers, students here

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High-End Industrial Hopes in Anaheim

REAL ESTATE: Western Realco plans 210,000 SF on spec

10.5-acre Anaheim site outside the Platinum Triangle has been sold to a local developer

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Seismic Regulations + OC Growth = Building Boom

CHOC, St. Jude, Kaiser projects exceed $1.3B in combined costs

Orange County’s hospital landscape has several big-dollar projects set to open in the next couple of years

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Newport’s Better Haul on Bed Tax; Eclectic Expectations for FCD

OC INSIDER Column by Jerry Sullivan

By the Numbers - Medical Building Tenants

There are more than 4,900 medical building tenants in Orange County.

Real Mex Seeks OK on Bankruptcy Bid

RESTAURANTS: Chain operator picks consortium of creditors

Real Mex seeks OK on bankruptcy bid

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REAL ESTATE WATCH: HIGH-RISE OFFICE MARKET

Quality Properties Boost OC Office Market

OC high-rise office market finishes 2011 with strong absorption numbers. Includes Real Estate Watch industry performance charts.

Tri Pointe Homes Moves Headquarters to Irvine

Lease Means Most Vacated Space in Center Filled

Tri Pointe Homes moves headquarters to Irvine, in Real Estate

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Casanova Uses Doggie Shrink to Tout Denny’s Menu

TV’s Cesar Milan Tames Wild Family Fare in Video

Casanova uses doggie shrink to tout Denny’s menu, in Media and Marketing

Accountable-Care Organizations Join Healthcare Field Here

HEALTHCARE: Monarch, St. Joseph early in trend

Accountable-care organizations are slowly taking root in Orange County

Amonix Lays Off 200 at Nevada Plant, Awaits Next Solar Line

MANUFACTURING: Retool in works; no cuts at Seal Beach HQ

Seal Beach-based solar power-systems maker Amonix Inc. lays off 200 workers at Nevada manufacturing plant, awaits next solar line

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QLogic Maintains Lead in Key Electronics Segment

TECHNOLOGY: Holds share of fibre channel, Ethernet on horizon

Aliso Viejo-based QLogic Corp. held its market share lead in the fourth quarter over rival Emulex Corp.

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Standard Pacific Gets Back in Black in Q4

REAL ESTATE: New CEO says orders up, projects full-year profits

Standard Pacific gets back in black in Q4

Grubb Loses Microsoft Management Contract

REAL ESTATE: Latest blow; CBRE gets national assignment

Santa Ana-based Grubb & Ellis Co. loses one of its largest national-facilities management assignments

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Shift to Apartments at South Coast Metro Site

REAL ESTATE: Buyer seeks switch from condos in Santa Ana

Shift to apartments at South Coast Metro site

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GAO Knocks “Pricing Secrecy,” Variances on Devices

Transparency Could Cut Discounts, AdvaMed Warns

GAO knocks “pricing secrecy,” variances on devices, in Healthcare

Knott’s Lot

Counts on Mix of Old West Charm, Thrill Rides to Stand Out

It’s still the Old West at Knott’s Berry Farm

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Ingram Micro Restructures 2 Key Sales Networks

TECHNOLOGY: Top reseller groups smaller, more selective

Santa Ana-based Ingram Micro Inc. restructures two of its reseller groups in the U.S.

REAL ESTATE DEALS

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

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

CALENDAR - February 14-22, 2012

A listing of events happening all around Orange County.

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Device Maker Lands at $4.6M Home in Corona del Mar

New Spot Comes With Courtyard, Wine Cellar

Entrepreneur who recently sold a medical device company buys $4.6M home with wife, in Luxury Homes

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ADDENDUM - February 13, 2012

Other items of interest Orange County Business Journal

Other items of interest Orange County Business Journal

Apple Peachy for Broadcom Revenue Again in 2011

Analyst Cites Other Signs of Broad Growth Prospects

Apple peachy for Broadcom revenue again in 2011, in Technology

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Friday, February 10

Court Approves Real Mex Sale to Creditors

A bankruptcy court today approved the sale of Cypress-based Real Mex Restaurants Inc. to a group of creditors.

Thursday, February 9

Blizzard Revenue, Profits Fall; No New Games in Q1

Irvine-based online game maker Blizzard Entertainment Inc. paired down subscription losses in the fourth quarter for its flagship title World of Warcraft as revenue and operating profits dipped.

Wednesday, February 8

Ingram Micro Beats Expectations

Santa Ana-based Ingram Micro Inc. on Wednesday reported fourth-quarter revenue and adjusted profits that beat Wall Street expectations.

Taco Bell Sees Positive Sales Trend on New Menu Options

The sales slump at Irvine-based Taco Bell Corp. is showing signs of a turnaround, according to parent Yum Brands Inc.

Tuesday, February 7

Creditors Emerge as Likely Buyers of Real Mex

Cypress-based Real Mex Restaurants Inc. identified a bid from a group of creditors as the frontrunner in its bankruptcy auction, according to court documents filed Monday.

TTM Sets Annual Revenue Mark

Santa Ana-based printed circuit board maker TTM Technologies Inc. today reported record sales of $1.4 billion in 2011, up 16% from a year earlier.

Solis Capital Starts Second Fund

Newport Beach-based private equity firm Solis Capital Partners LLC has secured $42.5 million in commitments as part of its second fund, Solis II.

Clean Energy Set for Texas Station

Seal Beach-based Clean Energy Fuels Corp. has inked a 10-year deal to build, supply and manage a natural gas fueling station at the headquarters of a Texas trucking company.

Monday, February 6

Fisker Seeks Alternative Funding Amid Renegotiation of Loan From Feds

Fisker Automotive Inc. has laid off 40 workers at its Anaheim headquarters and halted production on a mid-size sedan that had been slated for release in 2013.

Disney Gives $5 Million to CHOC

Anaheim’s Disneyland Resort said today that it was donating $5 million to Children’s Hospital of Orange County.

Saturday, February 4

Allergan Hikes R&D, Reviews Wish List

HEALTHCARE: “More shots on goal” for potential acquisitions

Allergan Inc. plans to boost spending and eye possible acquisitions to reload its product pipeline this year

OC on the MAKE

Manufacturing in Comeback, Faces Labor Gap at Home

OC on the make: manufacturing in comeback, faces labor gap at home

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Why Red Works Here

400 Jobs, Custom Production Line in Irvine

Why Red Works Here: a look inside the digital camera company’s production in Irvine

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Greenlaw’s $34M Buy Resets I.E.’s Office Market

REAL ESTATE: Highest price in hard-hit region since downturn

Newport Beach-based real estate investor Greenlaw Partners buys 303,000-square-foot office complex in Inland Empire

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Corinthian Posts Q4 Profit in Big Reversal

Santa Ana-based Corinthian Colleges Inc.’s big turnaround on Q4 profit appears to signal move toward stability

Edwards Goes With Cautious Expectations for Year

HEALTHCARE: Positive news on bid for new approach on Sapien

Heart-valve maker Edwards Lifesciences Corp. sets out cautious expectations for this year after busy 2011

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Freedom in Deal to Sell Off New Mexico Newspapers

MEDIA: 100-plus publication group has been paring down

Freedom Communications Inc.’s New Mexico newspapers are the latest of the company’s media properties to be sold

Identive Pays $5.3M for German Smart-Card Maker

TECHNOLOGY: Deal stretches reach, expected to stoke sales

Identive Group Inc. has acquired a majority stake in a German-based smart card provider in a $5.3 million stock deal.

Manhattan Beachwear Licenses Sperry Top-Sider

APPAREL: Inks deal for launch of men’s, women’s swimwear

Cypress-based Manhattan Beachwear Inc. signed a licensing deal to make and sell Sperry Top-Sider’s first men’s and women’s swimwear lines.

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Beloved Restaurants Will Be Gone But Not Forgotten

Tradition, The Ritz to Join Others Recently Shuttered

A number of legendary local restaurants have closed or soon will.

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Pac Life Foundation Bestows $2.4M to SoCal Agencies

Almost 200 Nonprofits Get $5,000 to $100,000 Each

PHILANTHROPY Column by Sherri Cruz

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Western Digital Manages Expectations on Hard Drives

Guidance Comes Amid Recovery in Thailand

Irvine-based Western Digital Corp. expects hard-drive shipments to be “significantly constrained” in the March quarter, in Technology

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ADDENDUM - February 6, 2012

Other items of interest Orange County Business Journal

CALENDAR - February 7-15, 2012

A listing of events happening all around Orange County.

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MARKET WATCH - February 6, 2012

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

ICU Medical Touted as Attractive Buyout Candidate

Motley Fool Pundit Floats Hospira as Good-Fit Buyer

Some industry watchers see ICU Medical Inc. in San Clemente as an appealing takeover candidate, in Healthcare

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Ex-Kodak Marketing Chief Recalls Missed Chances

Says Film Giant Was Slow, Resistant to Change

Ex-Kodak marketing chief recalls missed chances, in Media and Marketing

REAL ESTATE WATCH: GREATER LOS ANGELES

Industrial Demand Returns, Office Still Soft in Greater Los Angeles

Greater Los Angeles office market started to recover last year, although market fundamentals remain soft. Includes Real Estate Watch industry performance charts.

REAL ESTATE DEALS

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

By the Numbers - Irvine Businesses

Graphs, charts show a snapshot of OC business statistics

Environmental Consultants Tread Water in 2011

Billings Flat; CH2M Hill Keeps Top Spot, Adds Staff

ABOUT THE LIST - The largest environmental consultants operating in Orange County managed to hold steady on local business last year. Includes the 2012 OC's LARGEST ENVIRONMENTAL CONSULTANTS list for download (pdf)

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Commercial Market Comes Olen’s Way

REAL ESTATE: $24.5M for Santa Ana center; eyes more

Olen Properties Corp. snaps up a Santa Ana business park for $24.5 million, has eyes open for other local deals

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Ista Doesn’t Budge; More Suitors Seen

HEALTHCARE: Rejects second Valeant offer over deadline

Ista Pharmaceuticals Inc. doesn’t budge on offer from Valeant, more suitors seen

A Tip of the Hat; New Majority’s Cap; Home Prospect at Fairgrounds

OC INSIDER Column by Jerry Sullivan

Grubb Still Seeks Financing in Absence of BGC Deal

REAL ESTATE: Brokerage had been in exclusive talks

Grubb & Ellis Co. still on lookout for a buyer or investor after it was unable to reach a deal

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Allergan to Lease Tower Space LA Fitness Is Vacating

Drug Maker Once Thought Possible Buyer of Building

Allergan to lease tower space LA Fitness is vacating, in Real Estate

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Broadcom to Cut 3% of Work Force, Blu-ray

TECHNOLOGY: Targets 300 jobs; focus on higher margins

Broadcom’s exit from Blu-ray disc, digital TV business part of broader restructuring plan that will cut 300 jobs companywide

Friday, February 3

ChromaDex Looks to Raise $10M

Irvine-based natural products company ChromaDex Corp. hopes to raise at least $10 million in a couple of stock sales.

Thursday, February 2

Edwards Beats Expectation on Profits, Misses on Revenue, Reaffirms Guidance

Irvine-based heart valve maker Edwards Lifesciences Corp. today posted mixed fourth-quarter results and gave conservative guidance for the current quarter and the full year.

Wet Seal Shares Slump on January Sales

Shares of Foothill Ranch-based teen retailer Wet Seal Inc. fell 8% in New York midday trading after the company reported disappointing January store sales.

Allergan in Line on Quarterly Profit, Revenues

Irvine’s Allergan Inc. today reported fourth-quarter financial results in line with expectations and provided measured guidance for the current quarter and 2012.

OC Automakers Start Year Off Mixed

January was a month of extremes for Orange County automakers, with some posting record sales and others seeing a plunge.

Wednesday, February 1

Freedom Sells Off New Mexico Newspapers

Irvine-based Freedom Communications Inc.’s New Mexico newspapers are the latest of the company’s media properties to be sold.

Manhattan Beachwear Inks Sperry Top-Sider Pact

Cypress-based Manhattan Beachwear Inc. signed a licensing deal to make and sell Sperry Top-Sider's first men's and women's swimwear lines.

Identive Buys German Smart-Card Maker

Identive Group Inc. has acquired a majority stake in a German-based smart card provider in a $5.3 million stock deal.