Stories for July 2012

Tuesday, July 31

Midday Stock Roundup

The Nasdaq was down 0.05% to 2,944.23 in midday trading, while the Dow Jones Industrial Average fell 0.27% to 13,037.82.

Clinton Group: Private Equity Eyes Wet Seal

A private equity firm is eyeing Foothill Ranch-based teen retailer Wet Seal Inc., according to one of the company’s major shareholders.

Standard Pacific Plans Stock Offerings; Shares Slump

Shares of Irvine-based Standard Pacific Corp. slumped on Tuesday, the same day that the homebuilder announced a proposed $150 million convertible notes offering and concurrent common stock offering of 12.5 million shares.

Pimco Volunteer Week Hits Stride

Pacific Investment Management Co. continues its week of volunteering efforts throughout Orange County as part of the company’s worldwide initiative to have more than 1,000 employees participate in charity events in their local areas.

Seal Beach Plant Survives Dendreon Restructuring

Seattle-based Dendreon Corp. will keep its Seal Beach plant open as part of a manufacturing shakeup.

South County Bank Swings From Year-Ago Loss

Rancho Santa Margarita-based CalWest Bancorp reported net income of $36,000 for the second quarter, a turnaround from a year-ago loss of $278,000.

Report: Gross Earned $200M in 2011; El-Erian Heir Apparent

Newport Beach-based Pacific Investment Management Co. cofounder Bill Gross received about $200 million in compensation last year, according to a recent report in the New York Times, which was based on an anonymous source.

UCI, Chapman Law Schools Cited for ‘Scholarly Impact’

The University of California, Irvine, has been ranked No. 7 among accredited American law schools in terms of making a scholarly impact, in a study done by University of St. Thomas School of Law in Minnesota.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Monday, July 30

Dorsey Names New SoCal Head

Minneapolis-based law firm Dorsey & Whitney LLP has named Chris Dubia as the new head of the firm’s Southern California office in Costa Mesa.

OC Midday Stock Roundup

The Nasdaq was down 0.52% to 1,942.58 in midday trading, while the Dow Jones Industrial average fell 0.14% to 13,057.95. The S&P 500 was off 0.24% to 1,382.64.

9 Honored for OC Philanthropy

Nine business leaders and organizations will be honored at the National Philanthropy Day Orange County Awards on November 15 at a luncheon at the Hyatt Regency Orange County in Garden Grove.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Saturday, July 28

CALENDAR - July 31-Aug. 8, 2012

A listing of events happening all around Orange County.

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By the Numbers - INSURANCE BROKERS IN ORANGE COUNTY

Orange County has about 1,900 insurance brokers that collectively employ more than 20,000 workers.

REAL ESTATE WATCH: INLAND EMPIRE

Momentum Slowly Builds in Inland Empire Recovery

Momentum slowly builds in Inland Empire recovery. Includes Real Estate Watch industry performance charts.

REAL ESTATE DEALS - July 30, 2012

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

Passco Snaps Up Alabama Complex for $27 Million

Irvine Investor Pulls REIT, Remains on Hunt for Apts.

Passco snaps up Alabama complex for $27 million, in Real Estate

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Dell Targets $5B in Software Sales on Back of Quest

$2.4B Acquisition to Close Soon Following FTC’s OK

Dell targets $5 billion in software sales on the back of Quest, in Technology

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Western Digital Gets Past Thai Floods, Into Hitachi

TECHNOLOGY: Financial results strong; execs named

Western Digital gets past Thai floods, into Hitachi

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Lake Forest Encourages Consumers to Shop Locally

2nd Annual Event Drives Traffic With Promo Offers

Lake Forest in campaign to encourage consumers to shop locally, in Media and Marketing

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Allergan, Medicis Among Potential Obagi Bidders

Irvine Drug Maker Has Better Cash Position

Allergan, Medicis among potential Obagi bidders, in Healthcare

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Brokers Post 13% Revenue Rise, 18% Surge in Jobs

Second Year of Sales Growth After Consecutive Downticks

ABOUT THE LIST - Business better last year for Orange County’s largest insurance brokers. Includes the 2012 OC's LARGEST INSURANCE BROKERS list for download (pdf)

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Employers Fret Over Rising Workers’ Comp Costs

Brokers say higher rates needed as insurers see high loss ratio

SPECIAL REPORT: INSURANCE AND EMPLOYEE BENEFITS - Employers fret over rising workers’ comp costs

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Newport Beach Gives OK to Banning Ranch

Newport Beach gives OK to Banning Ranch

TPG’s Latest Billabong Bid Reduces Value to $714M

TPG’s latest Billabong bid down to $714 million

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Fast-Growing Private Companies Wanted for Business Journal’s Annual List

CALL FOR ENTRIES - Fast-growing private companies wanted for our annual list

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Anaheim Delays Vote on Measures for Bed-Tax Breaks

Anaheim delays review of plan to require vote on hotel bed-tax breaks

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Bixby Lands 291,700-SF South Bay Tower in Torrance

REAL ESTATE: $52M deal company’s biggest in five years

Bixby lands 291,700-square-foot South Bay tower in Torrance

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Fisker Cofounder Sheds COO Duties

Anaheim-based Fisker Automotive Inc. cofounder Barny Koehler has given up his title as chief operating officer and taken on the role of chief business development officer.

Northgate Gonzalez Buys Recently Built HQ

REAL ESTATE: Grocery chain pays $45M for 384,000-SF site

Northgate Gonzalez buys recently built headquarters

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CashCall Takes 125,200 SF in Orange Office

REAL ESTATE: Gets signage; lender will keep HQ in Anaheim

CashCall Inc. takes 125,200 square feet in Orange office

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Connecting the Dots on Bed-Tax Breaks; Canada Calls on OC

OC INSIDER Column by Jerry Sullivan

Which Way, Wet Seal?

RETAIL: Talk turns from hope of turnaround to call for sale

Which way, Wet Seal? Talk turns from hope of turnaround to call for sale

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Irvine Company Buys Into Pasadena

REAL ESTATE: Sources put deal at $145M for office near Old Town

Irvine Company buys a five-story office in downtown Pasadena

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Jones Lang LaSalle Nabs Irvine Boutique

REAL ESTATE: Operations to combine in new office here

The operations of 360 Commercial Partners are being folded into the local office of Jones Lang LaSalle

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County Picks Master Developer for Land Near Great Park

REAL ESTATE: L.A.-based Lowe gets nod; Wild Rivers looks set

County picks master developer for land near Great Park

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Treasure in Trash

Newport Beach Firm Takes on Notorious Dump

FirmGreen in Newport Beach takes on the world’s most notorious dump

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Evolve or Die

Healthcare Reforms Squeeze, Brokers Morph Into Advisers

SPECIAL REPORT: INSURANCE AND EMPLOYEE BENEFITS - Healthcare reforms squeeze, brokers morph into advisers

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ADDENDUM - July 30, 2012

Other news items of interest from the Orange County Business Journal

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Opportunity Knocks Again for Couple in Ocean View

Pays $5.2M for 3-Bedroom Home in Corona del Mar

Londoners purchase home that they had missed out on buying a few years ago, in Luxury Homes

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Friday, July 27

Midday Stock Roundup

The Nasdaq was up 1.53% to 2,937.60 in midday trading, while the Dow Jones Industrial Average rose 0.97% to 13,013.11.

QLogic Shares Fall on Downgrades

Shares of QLogic Corp. plummeted after Aliso Viejo-based networking-equipment maker was downgraded by two investment banks.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

St. Jude’s $285M Tower Ahead of Schedule

A $285 million patient tower in the works at St. Jude Medical Center in Fullerton is slightly ahead of schedule for its opening in the fourth quarter of 2014.

Thursday, July 26

TPG Moves Forward with Due Diligence on Billabong

The board of Australia-based action sports apparel company Billabong International Ltd. said it would facilitate due diligence by prospective buyer TPG International LLC.

Ingram Beats Expectations in Q2

Santa Ana-based Ingram Micro Inc. reported second quarter results that beat Wall Street expectations.

Quality Systems Shares Plunge on Consolidation Trend

Shares of Quality Systems Inc. plunged during morning market hours after the company reported weaker-than-expected quarterly results and declined to affirm or revise its full-year guidance.

Midday Stock Roundup

The Nasdaq rose 1.23% to 2,889.23 in midday trading, while the Dow Jones Industrial Average was up 1.61% to 12,880.47.

SEC Clears STEC, Moshayedi Brother

The Securities and Exchange Commission has cleared STEC Inc. and its cofounder and director Mehrdad “Mark” Moshayedi of any wrongdoing related to an insider trading investigation.

Edwards’ Outlook Lifts Shares

Edwards Lifesciences Corp. posted better-than-expected profit for the second-quarter and raised its guidance for the full year.

Western Digital Shares Up on Q2 Results

Irvine-based Western Digital Corp. reported growth in revenue and profit for its June quarter, beating Wall Street expectations on both.

Kaiser Aluminum Shares Rise on Strong Quarter

Foothill Ranch-based specialty aluminum products maker Kaiser Aluminum Corp. reported better-than-expected results for the second quarter.

Lowe Enterprises Tapped for 100-Acre El Toro Development

The County of Orange has selected Lowe Enterprises to help turn a 100-acre parcel of largely vacant land at the former El Toro Marine Corps Air Station in Irvine into a mixed-use project.

Freedom Sale Closes; Kushner New CEO

The sale of Irvine-based Freedom Communications Holdings Inc., owner of the Orange County Register, is final.

CommerceWest Earnings Rise

Irvine-based CommerceWest Bank reported net income of $1 million for the second quarter, nearly tripling its profit from a year earlier.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Wednesday, July 25

Midday Stock Roundup

The Nasdaq was up 0.07% to 2,864.97 in midday trading, while the Dow Jones Industrial Average rose 0.81% to 12,719.91.

CoreLogic Shares Jump on Strong Q2 Report

Shares of Santa Ana-based CoreLogic Inc. rose to their highest-ever levels on Tuesday, following the data analytic company’s posting of better-than-expected second quarter earnings.

Broadcom Beats Revenue, Profit Targets in Q2

Irvine-based chipmaker Broadcom Corp. on Tuesday reported revenue and adjusted profits in the second quarter that beat Wall Street estimates.

First Walmart Neighborhood Market in CA to Open in Huntington Beach

Bentonville, Ark.-based Wal-Mart Stores Inc. is set to open its first Walmart Neighborhood Market grocery store in California in Huntington Beach on Friday.

Commerce National’s Earnings Up

Newport Beach-based Commerce National Bank reported $374,000 in profit in the second quarter, nearly quadrupling its earnings from the same period a year ago.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Tuesday, July 24

Midday Stock Roundup

The Nasdaq was down 0.97% to 2,862.21 in midday trading, while the Dow Jones Industrial Average was off 1.25% to 12,562.03.

TPG’s Lastest Bid: $713.7M for Billabong

The parent of Irvine-based Billabong USA has received a third offer from private equity firm TPG Capital Partners LP.

Major Shareholder Calls for Sale of Wet Seal

A major shareholder of Foothill Ranch-based Wet Seal Inc. called for the retailer’s sale in a letter sent to its board of directors today.

Anaheim City Council to Consider Hotel Bed Tax Ballot Measure

The Anaheim City Council is expected to vote tonight on a plan that would send future waivers or other exemptions to the city’s hotel bed tax up for voter approval as a ballot measure.

Ceradyne Shares Dip on Q2 Report

Costa Mesa-based Ceradyne Inc. shares dropped 8% in morning trading on news of its second-quarter earnings.

Mindspeed Reports Mixed Results

Newport Beach-based networking chipmaker Mindspeed Technologies Inc. on Monday reported mixed results for the June quarter.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Monday, July 23

Midday Stock Roundup

The Nasdaq was down 1.42% to 2,883.57 in midday trading, while the Dow Jones Industrial Average was off 0.98% at 12,697.28.

Wet Seal Shares Fall on CEO’s Termination

Shares of Foothill Ranch-based teen retailer Wet Seal Inc. plunged nearly 11% in midday trading Monday after its board of directors announced a search for a new chief executive.

Opus Opens First Bay Area Office

Irvine-based Opus Bank opened a banking office in Danville, its first in Northern California.

Anna’s Linens Expands Credit Facility Amid Growth

Costa Mesa-based home-goods discounter Anna’s Linens Inc. expanded its credit facility to $70 million as it continues to open new stores.

Simon Hires Business Development Director for The Outlets at Orange, Ontario Mills

The parent of The Outlets at Orange and other local malls appointed a new area director of business development.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Sunday, July 22

Kaiser to Add 100 Workers at New, Bigger Hospital

HEALTHCARE: Features twice as many beds, 6 floors, parking

Kaiser to add 100 workers at new, bigger hospital

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Pacific Premier Chairman Retires After 15 Years in Post

Pacific Premier chairman retires after 15 years in post

Yokohama Tire Shows ‘Home Team Pride’ in Angels

Fullerton Company Gives Jerseys Away for 2nd Year

Yokohama Tire Corp. shows “home team pride” in Angels, in Media and Marketing.

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Form and Function

Trend Toward Less Space Prompts More Flexible Designs

SPECIAL REPORT: INTERIOR DESIGN AND CONSTRUCTION: Trend toward less space prompts more flexible designs

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Manley Rocks Boat; Nicholas Visits Guv; Blum’s New Venture

OC INSIDER Column by Jerry Sullivan

REAL ESTATE DEALS - July 23, 2012

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

Dubai Park Points to Possible 3rd Gate at Disneyland Resort

TOURISM: Can use Marvel characters here but not in Orlando

Dubai park points to Marvel-ous plans at Disneyland Resort.

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Guitar Makers Rock On Long After Fender Exit

Guitar makers rock on long after Fender exit

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Vizio Taps Industry Leaders to Train Call Center Staff

Electronics Company Has Facilities in S.D., Utah

Vizio Inc. taps industry leaders to train call center staff, in Technology

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Vivendi Seeks Buyer for Blizzard Parent

Vivendi SA seeks buyer for Blizzard parent

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Solar-Panel Maker Shuts Nevada Plant

MANUFACTURING: Move follows Seal Beach cutbacks

Solar-panel maker Amonix Inc. shuts Nevada plant

Vons, Pavilions Raise $1.4M for Easter Seals Locally

Customers Donated to Charity at Checkouts

PHILANTHROPY Column by Sherri Cruz

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CALENDAR - July 23-Aug. 1, 2012

A listing of events happening all around Orange County.

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ADDENDUM - July 23, 2012

Other news items of interest from the Orange County Business Journal

REAL ESTATE WATCH: Orange County Construction

OC Construction Remains Sparse

Orange County construction remains sparse. Includes Real Estate Watch industry performance charts.

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By the Numbers - NEWPORT BEACH BUSINESSES

There are roughly 4,300 businesses in Newport Beach that collectively employ more than 53,500 people.

Wells to Close Costa Mesa Loan Site in Wholesale Exit

Wells to close Costa Mesa loan site in wholesale exit

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Report: Bausch Bought Ista to Improve IPO Prospects

Maker of Eye-Care Products Closed on Deal in June

Bausch reportedly will wait until after fully integrating Ista before again considering an IPO, in Healthcare.

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Report: Mimi’s Café Parent Intends to Sell Off Chain

Report: Mimi’s Café parent intends to sell off chain

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Metagenics Inks Pact for 47,000 SF in Aliso Viejo

Deal by Vitamins Maker Among Biggest Q2 Leases

Metagenics Inc. inks pact for 47,000 square feet in Aliso Viejo, in Real Estate

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Tenant Improvement Work Dips on Smaller Field

20 largest see $440M in business as construction remains sluggish

ABOUT THE LIST: Lack of new commercial real estate construction in OC puts damper on area’s volume of tenant improvement work. Includes the 2012 OC's LARGEST TENANT IMPROVEMENT CONTRACTORS list for download (pdf)

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Fast-Growing Private Companies Wanted for Business Journal’s Annual List

CALL FOR ENTRIES: Fast-growing private companies wanted for our annual list

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Newport Newcomer Sells $100 Tablet Directly

TECHNOLOGY: Enters fray filled with higher-priced rivals

Little-known Newport Beach company introduces cheap tablet in an effort to find profitable niche

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Pac Dental Brushes Up Site After $13.6M Buy

REAL ESTATE: Practice manager to triple HQ space in Irvine

Pac Dental brushes up site after $13.6 million buy

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Ex-Mexico President Taps Aliso Viejo Company for IT

TECHNOLOGY: UST Global also to establish regional HQ

IT services provider UST Global signs partnership with former Mexico President Vicente Fox

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Textile Manufacturers Press for Turnaround

APPAREL: Prima-Tex, others aim to get offshore business back

Textile manufacturers press for turnaround.

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Lake Forest Office Deals Combine for $81M

REAL ESTATE: $59M buy of Pacific Vista is year’s priciest

Lake Forest office deals combine for $81 million

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‘Renaissance Kid’

Pint-Sized Inventor, Giant Imagination for New Products

INNOVATION: “Renaissance kid” is a pint-sized inventor with a giant imagination for new products.

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Friday, July 20

Midday Stock Roundup

The Nasdaq was down 1.11% to 2,932.99, while the Dow Jones Industrial Average was down 0.91% to 12,825.11 in midday trading.

CoreLogic Expects to Cut $200M in Overhead With Dell Package

CoreLogic Inc. has announced a wide-ranging technology deal with Round Rock, Texas-based Dell Inc. that’s expected to save the Santa Ana-based data analytics company close to $200 million over the life of the seven-year contract.

STEC Chief Executive Charged with Insider Trading

The Securities and Exchange Commission has charged STEC Inc. Chairman and Chief Executive Manouchehr Moshayedi with insider trading, which carries a potential lifetime ban from serving as an officer or director of any publicly traded company.

Acacia Beats Revenue, Profit Targets

Newport Beach-based Acacia Research Corp. on Thursday reported revenue and adjusted profits in the second quarter that beat Wall Street expectations.

Vans Posts Strong Q2 Sales

Cypress-based Vans Inc. logged strong global sales gains during the June quarter, results that came just weeks after its parent company announced a five-year plan to add $1 billion in revenue for the maker of skateboarding-inspired clothes, shoes and accessories.

OC Adds 8,700 Jobs in June

Orange County added 8,700 jobs in June, notching a fifth-straight month of gains.

'Carmageddon' Set for September Sequel

“Carmageddon 2”—the nickname for the coming closure of the San Diego (405) Freeway through the Sepulveda Pass—is now set for the last weekend of September, local transportation officials announced Thursday.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Thursday, July 19

Midday Stock Roundup

The Nasdaq was up 0.94% to 2,970.33, while the Dow Jones Industrial Average was up 0.22% to 12,937.23 in midday trading.

Pacific Premier Tops $1B Mark on Assets

Costa Mesa-based Pacific Premier Bancorp Inc. reported increased assets and profitability during the second quarter.

Taco Bell U.S. Sales Surge

Same-store sales at Irvine-based Taco Bell Corp. increased 13% for the quarter ended June 16.

Pyott Named Next Chair of California Healthcare

David Pyott, chief executive of Irvine-based drug maker Allergan Inc., has been named chairman-elect of the California Healthcare Institute’s board of directors.

Car Dealership Adds 3,500 SF

Renick Subaru has added 3,500 square feet to the dealership in Fullerton, taking it to about 212,000 square feet.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Quality Shares Steady

Shares of Irvine-based healthcare software maker Quality Systems Inc. are holding steady a day after they dropped 9% to a market value of about $1.42 billion on the loss of a significant contract to a competitor.

Riordan, Lewis in $473M Sale of Portfolio Company

Los Angeles-based private equity firm Riordan, Lewis & Haden notched a $473 million deal to sell a healthcare consulting company, an investment that had been headed by its Irvine office for the past five years.

Liquidmetal Raises $12M, Extends Apple Contract

Rancho Santa Margarita-based Liquidmetal Technologies Inc. has raised $12 million in a private placement.

Wednesday, July 18

Midday Stock Roundup

The Nasdaq was up 0.91% to 2,936.66, while the Dow Jones Industrial Average was up 0.52% to 12,871.92 in midday trading today.

Vivendi Pursues Sale of Blizzard Parent

Paris-based media and telecommunications conglomerate Vivendi SA has hired two investment banks to explore a sale of its majority stake in Santa Monica video game publisher Activision Blizzard Inc., which includes Blizzard Entertainment Inc. in Irvine.

Mitsubishi Outlander Now Outfitted With ‘Made in USA’ Label

Cypress-based Mitsubishi Motors North America Inc.’s Outlander Sport crossover utility vehicle is now being made in the U.S.

U.S. News and World Report Recognizes Hospitals

UCI Medical Center in Orange and Newport Beach’s Hoag Memorial Hospital Presbyterian made a list of best hospitals published by U.S. News and World Report.

OC Council of Governments Backs Local Control for Ontario Airport

Several Orange County cities and agencies have signed on in support of the city of Ontario’s proposal to take control of Ontario International Airport.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Tuesday, July 17

Midday Stock Roundup

The Nasdaq was down 0.42% to 2,884.85, while the Dow Jones Industrial Average was down 0.29% to 12,690.09 in midday trading today.

Report: Mimi’s Café On Sales Block

The parent of Irvine-based Mimi’s Café has begun the process of selling off the chain, according to a report from trade publication dealReporter.

Craft Retailer Takes Former Albertson’s Space in HB

Oklahoma City-based Hobby Lobby Stores Inc. recently signed a lease for 65,000 square feet of former Albertson’s space in Huntington Beach.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Monday, July 16

Aliso Viejo Firm to Work on Fox Library in Mexico

Aliso Viejo-based information technology services provider UST Global Inc. plans to partner with former President of Mexico Vicente Fox to build and service a presidential library and economic development center in his home state Guanajuato.

Skipper to Step Down as Pacific Premier Chair

Ronald Skipper has announced plans to retire as chairman of the board of directors of Costa Mesa-based Pacific Premier Bancorp Inc. at the end of July.

ICU Medical Beats on Q2 Earnings, Misses on Revenue

San Clemente-based ICU Medical Inc. today reported mixed second-quarter results and issued in-line financial guidance.

Midday Stock Roundup

The Nasdaq was down 0.03% to 2,907.57, while the Dow Jones Industrial Average dropped 0.25% to 12,745.53 in midday trading today.

South Coast, Irvine Spectrum Nordstroms to Carry London Label

Nordstrom stores at South Coast Plaza and the Irvine Spectrum Center are among 12 other locations nationwide set to see Topshop departments as part of a new partnership between the two retail chains.

Darden Expects to Keep Yard House HQ in Irvine

The buyer of Irvine-based Yard House USA Inc. said it expects to keep the chain’s headquarters in Irvine, and plans to grow it from 150 to 200 restaurants nationally.

OC Office Among Cuts to Wells Fargo Wholesale Mortgage Business

Wells Fargo & Co. plans to close its wholesale lending office in Costa Mesa as part of the bank’s companywide withdrawal from the wholesale business.

Resources Global Professionals Income Up for Quarter, Year

Resources Connection Inc. in Irvine saw net income of $8.9 million for its May quarter, a 65% jump from the year-ago period.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Saturday, July 14

By the Numbers - ACCOUNTING FIRMS IN ORANGE COUNTY

There are more than 1,200 accounting firms in Orange County.

Accounting Firms Post 4.7% Increase in Local Jobs

Uptick follows three years of declines in OC employment

ABOUT THE LIST: Accounting firms post almost 5% increase in jobs.

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Consultants Post First Uptick in Hires Since 2008

Firms’ OC operations size up, as clients’ fortunes stabilize

ABOUT THE LIST: Management consultants boost hires. Includes the 2012 OC's LARGEST MANAGEMENT CONSULTING FIRMS list for download (pdf)

Hanoi Hilton to Pacific Club

EVENTS - Scenes from business, social, charity and other events

Lee Ellis shares lessons learned at the Hanoi Hilton in Vietnam

CALENDAR - July 16-25, 2012

A listing of events happening all around Orange County.

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FDA Gives Go-Ahead for Trial of Edwards’ Intuity

Heart Valve Replacement Allows Faster Procedures

Heart valve maker Edwards Lifesciences Corp. will start another domestic clinical trial in the months ahead, in Healthcare

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Irvine Agency Promotes Chef-Created Taco Bell Items

Touts Cantina Bell Menu Via Print, Social Media

Irvine agency promotes chef-created Taco Bell items, in Media and Marketing

Analysts Offer Mixed Reactions to BrightPoint Buy

One Downgrades Ingram Shares, Others Unfazed

Analysts offer mixed reactions to BrightPoint buy, in Technology

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KB Home to Build 174 Homes Along Portola Parkway

Communities Called Sage, Garden Hill to Come Soon

KB Home to build 174 homes along Portola Parkway, in Real Estate

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REAL ESTATE WATCH: THE MID-COUNTIES MARKET

Mid-Counties Industrial Market Springs Back

Mid-Counties industrial market showed renewed signs of life in the first quarter. Includes Real Estate Watch industry performance charts.

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REAL ESTATE DEALS - July 16, 2012

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

By the Numbers - MANAGEMENT CONSULTING FIRMS IN ORANGE COUNTY

There are more than 900 management consulting firms in OC.

Fast-Growing Private Companies Wanted for Business Journal’s Annual List

CALL FOR ENTRIES: Fast-growing private companies wanted for our annual list

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ADDENDUM - July 16, 2012

Other news items of interest from the Orange County Business Journal

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Buyer’s Castaways Home + Cash = Bayshores Spec

Five-Bedroom Goes for Equivalent of $4.5M

Buyer’s Castaways home + cash = Bayshores spec, in Luxury Homes

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Back Bay Bites: Seafood, Steak, Kobe Beef Sliders

Newport Dunes to Host Charitable Fundraiser

Back Bay bites: seafood, steak, Kobe beef sliders, in Executive Dining

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Opus to Acquire 10 PacWest Offices

FINANCE: Irvine-based Opus Bank agrees to acquire 10 banking offices in SoCal from PacWest Bancorp

Hamanaka Adds Web Duties for OCBJ

Hamanaka named Web editor of Business Journal, will oversee daily website coverage and eNews updates

Irvine Could Reap $200M If FivePoint Doubles Park Plan

Irvine could reap to $200 million if FivePoint Communities doubles park plan

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Sonendo Eyes Clinical Trials, Starts Hiring for Device

HEALTHCARE: Targets market for root canal with sound waves

Sonendo eyes clinical trials, starts hiring for dental device.

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Mindspeed Offering Shores Up Co. Cash

TECHNOLOGY: Moves could include debt reduction

Networking chipmaker Mindspeed Technologies Inc. has tagged its $32M debt offering for general corporate purposes

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Irvine Swim Label Goes for More at Miami Show

APPAREL: L*Space aims a bit older, expands into apparel

Irvine swim label goes for more at Miami show

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LA Fitness Founders Add Retail to Portfolio

REAL ESTATE: Big-box store separate from growth plan

LA Fitness founders add retail to portfolio

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Jabara Checks Count on Padres; Hollywood Checks in on OC

OC INSIDER Column by Jerry Sullivan

Performance Center Makes Beautiful Music for Soka

EDUCATION: University had low-key approach in first decade

Performance center makes beautiful music for Soka University of America

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Action-Sports Brand for Surf City Hotel?

REAL ESTATE: Project’s new owner says Quiksilver in mix

Owner of Pacific City project eyeing potential for action-sports brand hotel that would reflect HB’s “Surf City” heritage

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RSI Development Sets New Course as Contract Builder

REAL ESTATE: Manufacturer sees new opportunity on rentals

RSI Development sets new course as contract builder

The Port Wants to Be the Place

Fariborz Maseeh, a pioneer in micro-electromechanical systems, is also a neighborhood guy who’s adding another title to his resume: theater impresario.

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Back on Track

Local firms pitch personal touch, add services to fuel growth

Back on track: local firms pitch personal touch, add services to fuel growth

Balance This!

Women Tech Execs Talk Finance, Risk, Rewards

Women tech execs talk finance, risk, rewards

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Thursday, July 12

Imagine Surf Hires “Paddle Board Pioneer”

San Clemente-based paddle board maker Imagine Surf has tapped the famed “stand-up paddle board pioneer” Dave Kalama as vice president of design and innovation.

Yard House Sold to Darden Restaurants

Irvine-based Yard House USA Inc. has been sold to a Florida owner of several restaurant chains in a $585 million all-cash deal.

Sullen Clothing Expands Into Music Business

Los Alamitos-based Sullen Clothing Inc. has launched its own record label.

New GM for Outlets at Orange

The Outlets at Orange has named Kristin Elfring as general manager of the retail center.

L.A.-Based Private Bank Expands Into Orange County

Private Bank of California, a small lender headquartered in Century City, announced the opening of its first branch in Orange County.

Anaheim Names New Finance Director

Debbie Moreno has been named Anaheim’s finance director and will oversee the city’s $1.5 billion budget.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Wednesday, July 11

Fluidmaster in Deal With Mexico Construction Company

San Juan Capistrano-based toilet tank valve maker Fluidmaster Inc. has partnered with Mexico’s construction company Grupo Lamosa to provide parts for a line of high-end toilets under the Vortens brand, which is sold throughout in the U.S.

Johnny Rockets Appoints President of New International Division

Aliso Viejo-based Johnny Rockets Restaurant Group Inc. launched an international division and promoted a member of its executive team to lead the new group.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Tuesday, July 10

Mazda CMO Resigns

Irvine-based Mazda North American Operations Chief Marketing Officer Don Romano has resigned.

Allergan Stock Down, Botox Share on Migraines Up

Irvine-based drug maker Allergan Inc. today saw its shares fall slightly after an analyst cut his 2013 profit forecast.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Monday, July 9

Questcor Rises on Drug Sales Data

Anaheim-based Questcor Pharmaceuticals Inc.’s shares rose today on news of increased sales of its sole drug.

Opus Gets 10 Banking Offices From PacWest

Irvine-based Opus Bank has agreed to acquire 10 banking offices in Southern California from Los Angeles-based PacWest Bancorp, a buy that would bring a total of about $145 million in deposits to Opus.

PacSun Shares Surge After Executive Stock Purchase

Shares of Anaheim-based Pacific Sunwear of California Inc. were up nearly 8% during Monday midday trading.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Saturday, July 7

Yamaha Gives Friends Role in Sport Bike Campaign

Costa Mesa Shop Crafts TV, Print, Online, Social Media

Yamaha’s campaign by Marshall Advertising uses TV, print, online and social media to promote 2012 R1 sport bike, in Media and Marketing.

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Surf City Apartment Sale Looks Like Priciest of Year

Kennedy Wilson Gets Via Verde for $67.5M

Real estate investor Kennedy Wilson snaps up a 277-unit apartment complex in Huntington Beach, in Real Estate

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Allergan’s Partner on Migraine Drug Set to Try Again

MAP Expects to Send New Data to FDA Within Months

Allergan’s partner on migraine drug plans to try again for FDA approval, in Healthcare

Dell’s $2.4B Quest Buy Leads $3.6B Trio of OC Deals

Ingram Gets BrightPoint, While Sony Nabs Gaikai

Dell’s $2.4B Quest buy tops $3.6 billion trio of Orange County deals, in Technology

Wet Seal to Get Reserves Study

Mall retailer Wet Seal Inc. plans to hire an investment banking firm to analyze the company’s cash reserves

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Vinny Poised for Billionaires’ Club; UCI Rolls Uphill

OC INSIDER Column by Jerry Sullivan

Lyon Homes Back as Buyer in $21.5M Deal

REAL ESTATE: 1,000 lots spread over I.E., S.D., Arizona, Nevada

Newport Beach-based William Lyon Homes Inc. buys 165 acres in California, Arizona and Nevada.

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Glaukos Ready to Take Flagship Device to Market

HEALTHCARE: One more round of financing expected for launch

Laguna Hills-based eye device maker Glaukos Corp. is ready to rev up marketing for its microscopic glaucoma treatment

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Accounting for Growth

CPAs Give Women-Owned Businesses Division of Their Own

CPAs see client boost from women-owned businesses

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Yogurt Chain Grows HQ With Move to Irvine

RESTAURANTS: Plans to add 70 locations to 200-store chain

Yogurtland Franchising Inc. expands new headquarters in Irvine as it eyes a major growth push over the next five years

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CALENDAR - July 10-18, 2012

A listing of events happening all around Orange County.

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Pacific Symphony Raises $1.3M With Parisian Gala

Cabaret Acts, Charity Auction Draw 350; John Tu Gives $100K

PHILANTHROPY Column by Sherri Cruz

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Fast-Growing Private Companies Wanted for Business Journal List

Fast-growing private companies wanted for our annual list

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Ghost Story

OC Woman Counts 117 “Invisible” Book Credits

Suzanne is well-known in the publishing industry and claims 117 ghostwriting credits.

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Digitas Wins Digital Work from Taco Bell

Irvine-based Taco Bell Corp. hires the San Francisco office of Digitas as its interactive agency

By the Numbers - WOMEN-OWNED BUSINESSES

There are more than 17,000 women-owned businesses in Orange County.

Monié Makes Good on Mobility Talk

TECHNOLOGY: $840M deal for BrightPoint company’s biggest

Ingram Micro’s Alain Monié makes good on mobility talk

Other Interested Parties

Low Rates Hit Banks, Ripple Through Construction, Wealth Management

Near-zero interest rates aren’t hurdles for just insurance companies

REAL ESTATE DEALS - July 9, 2012

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

Kula Adapts Sushi Bars to U.S., Plans Dozens More

RESTAURANTS: Success in Irvine changed prior sour taste

Irvine-based operator of sushi bars hopes to open 25 new restaurants over the next five years

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ADDENDUM - July 9, 2012

Other news items of interest from the Orange County Business Journal

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REAL ESTATE WATCH: WEST ORANGE COUNTY

West OC’s Industrial Lease Rate Unchanged in Q1

West Orange County’s industrial real estate market was a lease-rates laggard in the first quarter

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Back on Top

Pac Life Counters Low Interest Rates With Diversification

Back on top: Pac Life counters low interest rates with diversification

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Women-Owned Businesses Post 4% Sales Increase

Local employment rises by 5%; In-N-Out tops revenue rankings

ABOUT THE LIST: Thirty largest women-owned businesses in Orange County collectively see increase in revenue, number of employees. Includes the 2012 OC's LARGEST WOMEN-OWNED BUSINESSES list for download (pdf)

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Irvine Company Adds San Diego Office to Fold

REAL ESTATE: 205,000-SF buy follows deal in Silicon Valley

Irvine Company buys 13-story office building in San Diego County’s Mission Valley, pays off nearly $86M in debt on a La Jolla property

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Kiani Wants Break on Device Tax for Smaller Companies

HEALTHCARE: Masimo chief sees threat to innovation in levy

Masimo Corp. chief executive Joe Kiani wants a break on device tax for smaller companies

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CoreLogic Forecast Signals Housing Turn

REAL ESTATE: Stock has been hot amid improving conditions

CoreLogic Inc. forecast signals housing turn

Marketing Mavens Work Virtually, Stress No Stress

Iacunato-McLane is comprised of 10 women who “laugh a lot”

Iacunato-McLane is comprised of 10 women who “laugh a lot”

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Friday, July 6

Kaiser Anaheim Opening Doors in September

Kaiser Permanente will open its new $461 million hospital on La Palma Avenue in Anaheim on Sept. 12.

American Vanguard Opens Office in Netherlands

Newport Beach-based American Vanguard Corp. has launched a new Netherlands unit as part of a restructuring of its subsidiary Amvac Chemical Corp. and in preparation for Alfredo Pelaez’s retirement as Amvac’s director of international sales.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Thursday, July 5

Emulex to Pay $58M in Partial Settlement With Broadcom

Costa Mesa-based Emulex Corp. will pay Broadcom Corp. $58 million in release and licensing fees related to a long-running patent dispute regarding fibre channel and Ethernet technology.

Tustin Hyundai Dealership Expands

Tustin Hyundai has relocated and doubled its size within the Tustin Auto Mall as it continues to see sales of the brand grow.

Fisker, DiCaprio Join on Environmental Campaign

Anaheim-based Fisker Automotive Inc. has partnered with Leonardo DiCaprio to promote global environmental sustainability.

Wet Seal Announces Capital Review, June Sales Decline

Foothill Ranch-based mall retailer Wet Seal Inc. plans to hire an investment banking firm to analyze the company's cash reserves.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Tuesday, July 3

Automakers See June Sales Rise

Orange County-based automakers saw June sales grow even as the national monthly sales total slowed from the year-ago period.

Identive Fills $1.7M Federal Contract

A unit of Santa Ana-based Identive Group Inc. filled a $1.7 million contract to supply the Department of Justice with credential-based access controls in the second quarter.

Taco Bell Digital Work Shifts to Digitas

Irvine-based Taco Bell Corp. hired the San Francisco office of Digitas as its interactive agency, ending an account review that began earlier this year.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Monday, July 2

Silicon Valley Gets Patent Office

Silicon Valley has landed one of the coveted satellite sites of the U.S. Patent and Trade Office, beating out Los Angeles and San Diego among other hopeful regions.

Fisker Names New CFO

Anaheim-based luxury hybrid automaker Fisker Automotive Inc. hired Jim Yost as chief financial officer.

Matix Acquired by Westlife Distribution

Westminster-based Matix Clothing has been acquired by Westlife Distribution Inc. of Los Angeles.

Ingram to Buy Indianapolis-Based Distributor for $840M

Santa Ana-based Ingram Micro Inc. has agreed to buy wholesale distributor Brightpoint Inc. for $840 million in a cash deal.

Fast-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.

Sony Computer Entertainment in $380M Deal for Gaikai

Aliso Viejo-based Gaikai Inc. is set to be acquired by Sony Computer Entertainment Inc. for $380 million.

First PacTrust Completes Deal for Beach Business Bank

First PacTrust Bancorp Inc. in Irvine completed its merger with Manhattan Beach-based Beach Business Bank, a $39 million buy that has boosted the combined bank’s assets to about $1.3 billion.

Dell in $2.4B Deal for Quest

Dell Inc. has won the bidding for Quest Software Inc. with a cash offer of about $2.4 billion, the two companies announced today.