Stories for November 2013

Saturday, November 30

REAL ESTATE DEALS - December 2, 2013

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

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CALENDAR OCBJ

Dec.2-11, 2013

A listing of business events happening all around Orange County.

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Friday, November 29

Midday Stock Roundup

The S&P 500 slipped 0.08% to 1,805.80 in afternoon trading Friday.

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Wednesday, November 27

Midday Stock Roundup

The S&P 500 was up 0.07% to 1,804.06 in afternoon trading Wednesday.

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Irvine Approves More Great Park Homes

The developer of the Great Park Neighborhoods in Irvine has gotten city approval to build another 4,606 homes at the former El Toro Marine Corps Air Station.

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Tilly's Slides on Q4 Outlook

Investors sent shares of Irvine-based Tilly's Inc. down 24% in afternoon trading Wednesday, a day after the action-sports retailer issued disappointing earnings guidance for the January quarter.

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Irvine Beverage Company Raises $5M

Irvine-based beverage company True Drinks Holdings Inc. has raised $5.2 million through a sale of convertible preferred stock.

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Universal Protection Buys Mall Security Specialist

Santa Ana-based securities services firm Universal Protection Service has acquired IPC International Corp. in Bannockburn, Ill. on undisclosed terms.

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Tuesday, November 26

Tilly's Slides on Q4 Outlook

Investors sent shares of Irvine-based Tilly's Inc. down as much as 21% in after-hours trading Tuesday after the action-sports retailer issued disappointing earnings guidance for the January quarter.

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Universal Protection Buys Mall Security Specialist

Santa Ana-based securities services firm Universal Protection Service has acquired IPC International Corp. in Bannockburn, Ill. on undisclosed terms.

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Midday Stock Roundup

The S&P 500 rose 0.20% to 1,806.13 in afternoon trading Tuesday.

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Chapman Forecast: 35,000 More Jobs in 2014

Orange County businesses will add about 35,000 jobs in 2014, hiring at a slightly faster pace than this year, according to a forecast by economists at Chapman University’s Argyros School of Business and Economics.

JWA October Passenger Traffic Up 2%

A drop in international traffic at John Wayne Airport in October was offset by service from domestic routes for an overall gain in passenger traffic for the month.

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Quiksilver Inks Kids Licensing Deal

Quiksilver Inc. said children's apparel under the company's Quiksilver and DC brands will be made and marketed by New York-based LF USA under a new licensing agreement announced Tuesday.

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Hotel Irvine Names GM

The former head of a Hilton property in Huntington Beach is set to lead the newly renamed Hotel Irvine Jamboree Center beginning Dec. 1.

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Report: Proxy Advisor Calls for Billabong Int’l Board Changes

The parent of Irvine-based Billabong USA is once again under fire—this time by proxy adviser Institutional Shareholder Services Inc., which is reportedly calling for the removal of Billabong International Ltd. Board Chair Ian Pollard along with two directors.

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Monday, November 25

Report: Proxy Advisor Calls for Billabong Int’l Board Changes

The parent of Irvine-based Billabong USA is once again under fire—this time by proxy adviser Institutional Shareholder Services Inc., which is reportedly calling for the removal of Billabong International Ltd. Board Chair Ian Pollard along with two directors.

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JWA October Passenger Traffic Up 2%

A drop in international traffic at John Wayne Airport in October was offset by service from domestic routes for an overall gain in passenger traffic for the month.

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Chapman Forecast: 35,000 More Jobs in 2014

Orange County businesses will add about 35,000 jobs in 2014, hiring at a slightly faster pace than this year, according to a forecast by economists at Chapman University’s Argyros School of Business and Economics.

Midday Stock Roundup

The S&P 500 rose 0.03% to 1,805.34 in afternoon trading Monday.

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Q3 Loss, Improved Asset Quality for Pac Merc

Pacific Mercantile Bancorp incurred a loss in the third quarter driven largely by a drop in mortgage banking income.

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Fisker Automotive to Be Sold

Anaheim-based luxury hybrid automaker Fisker Automotive Inc. filed for Chapter 11 bankruptcy and is expected to be sold to a group that includes Hong Kong billionaire Richard Li.

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Sunday, November 24

CALENDAR OCBJ

Nov. 25-Dec. 4, 2013

A listing of business events happening all around Orange County.

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Saturday, November 23

Identive Group to Shed Noncore Lines for Growth Focus

Part of New Chief Exec’s Changes After Review

Santa Ana-based Identive Group Inc. plans to sell off its noncore business assets as part of a plan to trim global operations and focus on high-growth products and markets.

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Blizzard Charts Future With Big Dose of Past

TECHNOLOGY: Plans free mobile games based on franchises

Blizzard Entertainment Inc. is trying to lure players back with a lineup of video games steeped in nostalgia as it ushers in a new era.

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They’re Juiced

Couple Puts Juice Chain on Growth Fast Track

Keep it simple.

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Latest Habit: Franchises for ‘Better-Burger’ Chain

RESTAURANTS: USC location 1st to join company-owned roster

The Habit Restaurants LLC is set to open its first franchised location at University of Southern California early next year as part of the company’s strategy to accelerate growth.

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Luxury Homes With Unique Features Sell at Fast Clip

Feng Shui, 1920s History, Modern Perks and More

LUXURY HOMES Column by Kim Haman

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A Family’s Passion

Teen’s Interests Grow Into Film Maker With a Cause

Barbara and Greg MacGillivray met in a math class at Newport Harbor High School.

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Laser Licensing Pushes Alphaeon’s Middleman Method

Gets Amaris Device Rights From German Maker

Alphaeon Corp., a Newport Beach-based “lifestyle healthcare” company, acquired the U.S. licensing rights to the Amaris excimer laser device this month from Germany-based Schwind eye-tech-solutions GMBH.

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Oceanside Oasis

Roger’s Gardens Has Plenty of Plants, Sets Self Apart With Uniqueness

Roger’s Gardens is the Disneyland of all things home and garden.

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Founder of Struggling Bank Returns

Dong Il Kim earlier this month returned to US Metro Bank as its chief executive.

Riding Out Storms Together

Family Steers Fishing, Whale-Watching Company Through Rough Waters

Dana Wharf Sportfishing and Whale Watching was the first business that opened its doors at then-sleepy Dana Point Harbor in 1971.

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Cat’s Pajamas?

Sleepwear Maker Starts Home Ware Line as Part of Growth Bid

Peter Burke thinks people should look good even when they sleep.

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Pacific Communications Expands SkinMedica Work

Agency of Record On Top of Eyelash Product Ads

Allergan Inc. in Irvine selected its subsidiary Pacific Communications as its agency of record for its SkinMedica Skin Care’s professional business.

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Home Cooking on New Hires

ECONOMY: OC-based firms fuel gain by biggest employers

Orange County’s largest employers combined to add 3,562 new hires over the past year, continuing a string of modest job gains in recent years. Includes the 2013 OC's LARGEST EMPLOYERS list for download (pdf)

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Spitzer’s Other Run; Busloads for Great Park; Real Orange Aftermath

OC INSIDER Column by Jerry Sullivan

Hoag Commits to New Outpatient Center Next to Irvine Hospital

HEALTHCARE: Lease deal to add 150,000 SF to presence at Spectrum

Hoag Memorial Hospital Presbyterian plans a major expansion of its operations in Irvine after inking a lease for a new medical office complex that will be built along Sand Canyon Avenue.

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KBS Realty Angles for Another Major Office Buy

SF Building’s Sellers Said to Be Asking $121 Million

Newport Beach-based investor KBS Realty Advisors is nearing another blockbuster office purchase, this time in San Francisco.

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China Entry in Global Aircraft Market Buys Office in Newport

REAL ESTATE: $19.9M cash for 68,425 square feet near JWA

China’s entry in the market of commercial jet manufacturing has bought one of the better-known offices in the Koll Center Newport Beach business park.

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Placentia Equipment Firm Expands North

Placentia-based equipment-leasing services firm First Financial Corporate Services Inc. is expanding internationally with the launch of a subsidiary in Canada dubbed FF Canadian Leasing Inc.

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Bank Buys Fast-Food Franchise Lender

Irvine-based Pacific Premier Bancorp Inc. agreed to pay about $16 million to acquire Infinity Franchise Holdings LLC, a lender serving the fast-food franchise industry.

MemorialCare Names a Top Executive

Fountain Valley-based MemorialCare Health System appointed Diane Laird to its new chief strategy officer post.

Retail Market Gained Steam in Third Quarter

REAL ESTATE WATCH: ORANGE COUNTY RETAIL MARKET

The Orange County retail market continued its momentum in the third quarter, recording the largest amount of positive absorption the market has produced all year: 214,418 square feet.

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Good Behavior

Cambodian Refugee Thrives as Autism Therapy Specialist

Garden Grove-based Behavioral Health Works has a made a growth market out of teaching people with autism how to change their conduct in an effort to improve their lives.

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Auto Club Exec Wins Horatio Alger Award

Automobile Club of Southern California Chairman Thomas McKernan was selected to receive the Horatio Alger Award and will be honored with 11 others in April.

Taco Bell’s Creed Takes on More Duties

The parent of Irvine-based Taco Bell Corp. announced a reorganization of its operations that adds international duties for Taco Bell Chief Executive Greg Creed.

Friday, November 22

Fisker Automotive to Be Sold

Anaheim-based luxury hybrid automaker Fisker Automotive Inc. filed for Chapter 11 bankruptcy and is expected to be sold to a group that includes Hong Kong billionaire Richard Li.

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Midday Stock Roundup

The S&P 500 rose 0.33% to 1,801.73 in afternoon trading Friday.

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OC Adds 20,100 Jobs

Orange County businesses added more than 20,000 jobs in the past two months, bringing the county’s unemployment level down to 5.8%.

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Yard House Parent Faces Pressures from Activist Shareholder

An activist shareholder is calling for restaurant operator Darden Restaurants Inc.—the parent of Irvine-based Yard House USA Inc.—to be split.

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Freedom Closes Deal for Press-Enterprise

Santa Ana-based Freedom Communications Holdings Inc. completed its purchase of the Press-Enterprise newspaper in Riverside from A. H. Belo Corp., wrapping up a $27.2 million deal.

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Thursday, November 21

Yard House Parent Faces Pressures from Activist Shareholder

An activist shareholder is calling for restaurant operator Darden Restaurants Inc.—the parent of Irvine-based Yard House USA Inc.—to be split.

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Freedom Closes Deal for Press-Enterprise

Santa Ana-based Freedom Communications Holdings Inc. completed its purchase of the Press-Enterprise newspaper in Riverside from A. H. Belo Corp., wrapping up a $27.2 million deal.

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Study: JWA Mexico Service Brings $131M Economic Impact

An economic impact study on John Wayne Airport's Mexico service shows the new flights have generated some $131 million for the area.

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Midday Stock Roundup

The S&P 500 rose 0.66% to 1,793.21 in afternoon trading Thursday.

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Fish New Skilled Healthcare CEO

Foothill Ranch-based Skilled Healthcare Group Inc. has named Robert Fish its new chief executive.

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Taco Bell’s Creed Expands Duties Under Yum! Reorganization

The parent of Irvine-based Taco Bell Corp. announced a reorganization of its operations that adds international duties for Taco Bell Chief Executive Greg Creed.

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Kia Unveils New Flagship at LA Auto Show

Irvine-based Kia Motors America Inc. unveiled the K900 luxury sedan and dubbed it the flagship of its vehicle model lineup.

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Laird Gets New Job at MemorialCare

Fountain Valley-based MemorialCare Health System said Wednesday that it has appointed Diane Laird as its new chief strategy officer.

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Founding CEO Rejoins Kor-Am Bank in Garden Grove

US Metro Bank founding Chief Executive Dong Il Kim has returned to the struggling Korean-American bank.

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Ensign Paying $48M to Settle Medicare Fraud Investigation

Mission Viejo-based nursing home operator Ensign Group Inc. has paid $48 million to settle a U.S. Department of Justice investigation stemming from a Medicare fraud lawsuit filed by two former workers.

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Fast-Growing Window Tinter Buys in San Diego

Laguna Hills-based window tinting company Solar Art Window Film has acquired window film dealer Stop the Sun in Escondido.

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Wednesday, November 20

Taco Bell’s Creed Expands Duties Under Yum! Reorganization

The parent of Irvine-based Taco Bell Corp. announced a reorganization of its operations that adds international duties for Taco Bell Chief Executive Greg Creed.

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Founding CEO Rejoins Kor-Am Bank in Garden Grove

US Metro Bank founding Chief Executive Dong Il Kim has returned to the struggling Korean-American bank.

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Kia Unveils New Flagship at LA Auto Show

Irvine-based Kia Motors America Inc. unveiled the K900 luxury sedan and dubbed it the flagship of its vehicle model lineup.

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Laird Gets New Job at MemorialCare

Fountain Valley-based MemorialCare Health System said today that it has appointed Diane Laird as its new chief strategy officer.

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Ensign Paying $48M to Settle Medicare Fraud Investigation

Mission Viejo-based nursing home operator Ensign Group Inc. has paid $48 million to settle a U.S. Department of Justice investigation stemming from a Medicare fraud lawsuit filed by two former workers.

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Fast-Growing Window Tinter Buys in San Diego

Laguna Hills-based window tinting company Solar Art Window Film has acquired window film dealer Stop the Sun in Escondido.

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Midday Stock Roundup

The S&P 500 was up 0.13% to 1,790.25 in afternoon trading Wednesday.

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Nikon Official Camera at Disneyland Resort, Walt Disney World

Visitors to the Disneyland Resort in Anaheim will see more of Nikon Inc.’s brand throughout its two gated parks.

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PBS SoCal to Cancel Real Orange

Costa Mesa-based PBS SoCal plans to pull the plug on Real Orange, its long-running, locally produced news and public affairs show.

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Habit Burger Set to Franchise

Irvine-based Habit Restaurants LLC will start franchising its concept as it looks to grow on the East Coast, according to an industry report.

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Toll Road Operator to Manage Delaware River Bridges

Irvine-based toll road operator Cofiroute USA got a $2.8 million contract to work on toll collectors on four bridges that cross the Delaware River, connecting Pennsylvania and Southern New Jersey.

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Tuesday, November 19

PBS SoCal to Cancel Real Orange

Costa Mesa-based PBS SoCal plans to pull the plug on Real Orange, its long-running, locally produced news and public affairs show.

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Habit Burger Set to Franchise

Irvine-based Habit Restaurants LLC will start franchising its concept as it looks to grow on the East Coast, according to an industry report.

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Toll Road Operator to Manage Delaware River Bridges

Irvine-based toll road operator Cofiroute USA got a $2.8 million contract to work on toll collectors on four bridges that cross the Delaware River, connecting Pennsylvania and Southern New Jersey.

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Midday Stock Roundup

The S&P 500 slipped 0.26% to 1,786.87 in afternoon trading Tuesday.

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Knott's Announces 2014 Revitalization Projects

Knott's Berry Farm announced plans for additions and renovations to two of its attractions.

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Auto Club Chairman Gets Horatio Alger Award

Automobile Club of Southern California Chairman Thomas McKernan has been selected to receive the Horatio Alger Award.

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Freedom’s Buy in Riverside Up in Air

Santa Ana-based Freedom Communications Holdings Inc.’s purchase of the Press-Enterprise has not yet closed, according to A. H. Belo Corp., which owns the Riverside daily.

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Monday, November 18

Freedom’s Buy in Riverside Up in Air

Santa Ana-based Freedom Communications Holdings Inc.’s purchase of the Press-Enterprise has not yet closed, according to A. H. Belo Corp., which owns the Riverside daily.

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Midday Stock Roundup

The S&P 500 was up 0.09% to 1,799.77 in afternoon trading Monday.

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New Hyundai Sonata, Genesis Due Out Next Year in U.S.

Hyundai Motor America Inc.'s parent is set to release redesigned versions of its best–selling Sonata sedan and Genesis premium sedan models by mid-2014.

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Pacific Premier Bank Buys Lender in Fast-Food Niche

Irvine-based Pacific Premier Bancorp Inc. has agreed to pay about $16 million to acquire Infinity Franchise Holdings LLC, a lender serving the fast-food franchise industry.

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Data Bank Conventions

Conventions

Sunday, November 17

5 Honored at Family Owned Business Awards Luncheon

Nearly 400 on Hand at Business Journal, CSUF Event

A crowd of more than 375 turned out for a Nov. 13 luncheon at the Hyatt Regency Irvine to laud five honorees as part of the 14th annual Family Owned Business awards hosted by the Business Journal and California State University, Fullerton’s Center for Family Business.

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ADDENDUM - November 18, 2013

Other news items of interest from the Orange County Business Journal

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Surf Industry Award Nominees Announced

The list of Surf Industry Manufacturers Association’s annual SIMA Image Award nominees is out and once again dominated by Orange County-based action-sports companies.

Industrial Vacancies Shrink to Lowest Since Q2 of 2008

INDUSTRIAL SPACE

The downward trend of Orange County industrial vacancy rates continued through the third quarter

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County’s Office Market Experiences Modest Activity, Confidence Up

OFFICE SPACE

Orange County’s office market remained steady in the third quarter, posting small gains in rental rates, vacancy and absorption.

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Retail Activity Still Slow in 3rd Quarter

RETAIL SPACE

U.S. retail sales increased in August by a modest 0.1% over July, tempered by short-term economic concerns.

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Benck Shot: New Emulex CEO Aims for Turnaround

TECHNOLOGY: Board changer on way; marker challenges ahead

Emulex Corp. Chief Executive Jeff Benck will get a shot at turning around the networking equipment maker after getting a nod from activist investors that eluded his predecessor.

CALENDAR OCBJ

November 18-27, 2013

A listing of business events happening all around Orange County.

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REAL ESTATE DEALS - Nov. 18, 2013

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

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Amusement Park Owners Boost Earnings

The parents of several local amusement parks had strong earnings in their recently ended quarters

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Boyden is New Kid In Town—Again

EMPLOYMENT: Exec searcher puts OCer in charge of SoCal bid

Global executive search firm Boyden World Corp. has re-entered Southern California and tapped Orange County resident Peter Santora as a managing partner to oversee its operations here and in the Los Angeles market.

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Allianz Cuts Pimco From Co-Branded Funds

The parent of Newport Beach-based Pacific Investment Management Co. replaced Pimco asset managers with its own advisers

Bixby Buy Brings Creative Strategy to Home Turf

REAL ESTATE: Plans makeover in Irvine with weather in mind

Irvine-based Bixby Land Co. is bringing its model for creative office space redevelopment closer to home.

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Rexford, Flush With IPO Cash, Spends $23.3M in OC

Anaheim Buy Follows Yorba Linda Auction Win

Rexford Industrial Realty Inc., a Los Angeles-based industrial real estate investor that went public this year, has snapped up a pair of business parks in North County for about $23.3 million.

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Newport Beach Firm Gets Beachhead in Puerto Rico

FINANCE: Buys broker-dealer, eyes commonwealth’s bonds

Newport Beach-based investment bank Fairbridge Capital Partners LLC is making a play in Puerto Rico through an acquisition of one of the largest securities brokers there.

City Ventures Puts New Insignia on Luxe Homes

REAL ESTATE: Builder establishes new division for high-end residential

Newport Beach-based homebuilder City Ventures Inc. has launched a luxury home division that will focus on some of the company’s premier land locations in California

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Chipmakers End Streak With Slight Dip to 4,800 Jobs Here

Softer Demand, BK in Mix; 2 Newcomers Make List

Orange County’s largest chipmakers combined for a slight drop in jobs over the last 12 months as the local industry was hit by restructurings, a bankruptcy and generally soft demand. Includes the 2013 OC's LARGEST CHIPMAKERS list for download (pdf)

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Quality Systems Sings Praises of Mirth Acquisition

Says It Opens Up Product Pipeline, Expansion Paths

Executives of Irvine-based Quality Systems Inc. are bubbling over about their company’s newest deal.

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Back in Its Element

Action-Sports Brand Gets Creative With New HQ in Costa Mesa

Incense burns inside Element Skateboards Inc.’s new headquarters as Chief Executive Johnny Schil-lereff walks to a desk stacked amid a pile of rusted industrial containers.

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Agency of Change

Stand-Alone Marketing Shop Points to Ingram Micro’s Push for Higher Margins

Technology distribution giant Ingram Micro Inc. has launched the latest addition to its portfolio of services—Agency Ingram Micro.

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Biolase Seeks Working Capital in Asset Sale

HEALTHCARE: Looks to boost cash, focus on core dental line

Irvine-based medical device maker Biolase Inc.’s move to sell noncore assets signals a plan to double down on its main dental laser business.

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Investors, Brokers Differ on Office Market’s Condition

Buyers Hope Rents Start to Jibe With Big Sales Spurt

Investors and tenant brokers appear to be of two different minds when gauging the health of Orange County’s office market heading into 2014.

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PHILANTHROPY November 18, 2013

PHILANTHROPY Column by Kim Haman

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Spectrum Group to Spin Off Subsidiary

Spectrum Group International Inc. said it plans to delist its shares from national securities exchanges and spin off a subsidiary.

Disney Uses Online Influencers to Help Attract Adults

Campaign Urges Kids of All Ages to Visit Parks

Walt Disney Co.’s new marketing campaign encourages fans to tap into their “Disney Side” and visit the local theme park—with or without the little ones.

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Toba Capital Ups Stake in Partner’s Storage Startup

Former Quest Executive Scouts Twin Cities

Vinny Smith’s Toba Capital has taken another stake in a Minnesota-based storage networking provider headed by venture partner and former Quest Software executive Walter Angerer.

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Friday, November 15

Midday Stock Roundup

The S&P 500 rose 0.13% to 1,792.94 in afternoon trading Friday.

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Questcor Adds Elan Corp. Boss to Board

Anaheim-based drug maker Questcor Pharmaceuticals Inc. has appointed Kelly Martin, head of Elan Corp. in Ireland, to its board of directors.

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Peterson Named Microsemi Chairman

Microsemi Corp. Chief Executive Jim Peterson has been named chairman of the Aliso Viejo-based chipmaker.

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Leyden Named CFO of Western Digital

Tim Leyden has been named chief financial officer at Western Digital Corp. for the second time in six years, the Irvine-based drive maker announced Thursday.

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Thursday, November 14

Leyden Named CFO of Western Digital

Tim Leyden has been named chief financial officer at Western Digital Corp. for the second time in six years, the Irvine-based drive maker announced Thursday.

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Midday Stock Roundup

The S&P 500 was up 0.37% to 1,788.53 in afternoon trading Thursday.

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South Coast Plaza Hosts Chinese Consul General

Officials with South Coast Plaza were on hand Tuesday night to welcome Consul General of China Liu Jian.

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Five Honored at Family Owned Business Awards

A crowd of more than 375 turned out today for a luncheon at the Hyatt Regency Irvine to laud five honorees as part of the 14th annual Family Owned Business awards hosted by the Business Journal and California State University and California State University Fullerton’s Center for Family Business.

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SIMA Releases Image Award Nominees

The list of Surf Industry Manufacturers Association's annual SIMA Image Award nominees are out, and it’s once again dominated by Orange County-based action-sports companies.

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Wednesday, November 13

South Coast Plaza Hosts Chinese Consul General

Officials with South Coast Plaza were on hand Tuesday night to welcome Consul General of China Liu Jian.

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Five Honored at Family Owned Business Awards

A crowd of more than 375 turned out today for a luncheon at the Hyatt Regency Irvine to laud five honorees as part of the 14th annual Family Owned Business awards hosted by the Business Journal and California State University and California State University Fullerton’s Center for Family Business.

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Midday Stock Roundup

The S&P 500 rose 0.41% to 1,774.90 in afternoon trading Wednesday.

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Allianz Drops Pimco From Co-Branded Funds

The parent of Newport Beach-based Pacific Investment Management Co. is replacing Pimco asset managers with its own advisers for a dozen or so bond funds that combine for about $6 billion in assets.

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Spectrum Group Plans Spinoff

Spectrum Group International Inc. said it plans to delist its shares from national securities exchanges and spinoff a subsidiary.

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Tuesday, November 12

Spectrum Group Plans Spinoff

Spectrum Group International Inc. said it plans to delist its shares from national securities exchanges and spinoff a subsidiary.

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Banc of California Posts Q3 Loss, President Steps Down

Banc of California Inc.’s Robert Franko has resigned from his post as president of the Irvine-based bank holding company.

Midday Stock Roundup

The S&P 500 was down 0.33% to 1,766.10 in afternoon trading Tuesday.

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Emulex Reaches Deal with Activist Investors, Chairman McCluney Out

Emulex Corp.’s ongoing battle with activist investors came to a head Monday when the Costa Mesa-based networking equipment maker announced that Executive Chairman and former Chief Executive Jim McCluney will step down.

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Biolase to Consider Asset Sales

Irvine-based laser device maker Biolase Inc. said Monday that its board authorized it to hire an investment bank to explore a possible sale of some of its assets.

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Private Jet Co. Expands Route to Caribbean

Irvine-based charter airline JetSuite LLC has expanded service routes to include flights to the Caribbean.

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Monday, November 11

Emulex Reaches Deal with Activist Investors, Chairman McCluney Out

Emulex Corp.’s ongoing battle with activist investors came to a head Monday when the Costa Mesa-based networking equipment maker announced that Executive Chairman and former Chief Executive Jim McCluney will step down.

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Private Jet Co. Expands Route to Caribbean

Irvine-based charter airline JetSuite LLC has expanded service routes to include flights to the Caribbean.

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Biolase to Consider Asset Sales

Irvine-based laser device maker Biolase Inc. said today that its board authorized it to hire an investment bank to explore a possible sale of some of its assets.

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Midday Stock Roundup

The S&P 500 was up 0.04% to 1,771.36 in afternoon trading Monday.

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Local Theme Parks Bring Big Gains for Parent Cos.

The parents of several local amusement parks saw strong earnings in their recently ended quarters as gains in guest spending and attendance helped boost revenue.

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Laguna Strategic Sees Consultant Roster Double

Irvine-based Laguna Strategic Advisors LLC said the number of consultants who are now part of its consortium has doubled since the company’s founding about a year ago.

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OCVA Websites Target UK, Canada

The Orange County Visitors Association has launched new websites aimed at marketing the area to visitors from the United Kingdom and Canada.

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Saturday, November 9

Methods Machine’s Training Space Doubles in Anaheim

MANUFACTURING: It’s betting on industry rebound

Machine tools importer and distributor Methods Machine Tools Inc. will double the size of its Orange County technical center in a move to Anaheim in coming weeks.

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Aging Auto Showrooms Make Way for Sleek Replacements in Recovery

AUTOMOTIVE: Upfits spurred by sales, carmaker beauty standards

The huge white dome that was Allen Family Automotive Group’s Cadillac showroom was leveled last month.

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Q&A - Banking

Financial institutions focus on mortgage alternatives.

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Weyerhaeuser Purchase Puts TRI Pointe in Catbird Seat for Land

REAL ESTATE: $2.7 billion deal gives homebuilder national presence

A $2.7 billion bet on an improving housing market is set to make TRI Pointe Homes Inc. a national presence among homebuilders

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CALENDAR OCBJ

Nov. 11-20, 2013

A listing of business events happening all around Orange County.

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REAL ESTATE DEALS - November 11, 2013

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

Chapman Health Program Gets Big Gift

A Newport Beach real estate company owner and his wife donated $15 million to Chapman University’s health science campus in Irvine.

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‘Brand Behind Brands’ Expands to Meet Rising Demand for Smart Devices

TECHNOLOGY: GreenWave moving to bigger HQ, hiring 200+

A low-profile Irvine technology company headed by former Apple, Google and Cisco Systems executives is in the midst of an aggressive expansion plan in Orange County.

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Allergan Makes Case Against Untested Generics

Cites Groups in Opposition to FDA Proposal

A Food and Drug Administration regulatory process that could lead to potential generic competition to Irvine-based Allergan Inc.’s Restasis dry-eye drug, among others, was recently discussed at the Generic Pharmaceutical Association’s Fall Technical Conference and highlighted by Boston-based investment bank Leerink Swann LLC.

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Vietnamese Bank Faces New Struggle

FINANCE: 32 quarterly losses, TARP burden gets heavier

The latest check on Saigon National Bank indicates little progress at the struggling community bank in Westminster and much room for questions about its future.

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Jumpstart Automotive Lands Autobytel Ads Account

Agency’s Work for Major Auto Brands Gave It Edge

Autobytel Inc. in Irvine will outsource the ad sales portion of its business to Jumpstart Automotive Group, a San Francisco-based automotive marketing and advertising company.

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Boots on the Ground to Career Reboot

Marine Corps veteran Jacob Lampe returned to Orange County from Afghanistan in 2011 at age 23, a different man than the one who had left a few years before.

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Media Firm Nears Industry Top After Hard Days

MEDIA: Local Corp. enjoys success, eyes more growth

Local Corp. bills itself as the “No. 2” player in the online directory marketplace, second only to Atlanta-based YP Intellectual Property LLC, which runs Yellowpages.com.

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Apartment Investor ARES Closes Big Deal in Corona

Pays $96M for Complex, or $134,000 Per Unit

Irvine-based apartment investor Advanced Real Estate Services Inc. has made one of its largest purchases to date in its buy of a 714-unit complex in Corona.

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Western Digital Grows Park Place HQ by 13%

REAL ESTATE: Company adds 60,000 SF for future growth

Western Digital Corp., Orange County’s largest publicly traded technology company by market value, has added another sizable chunk of space to its headquarters at the Park Place office campus in Irvine.

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High-Rise Office Market Picks Up Steam in Third Quarter

REAL ESTATE WATCH: HIGH-RISE OFFICE MARKET

The high-rise office market in Orange County improved at a quicker pace last quarter.

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Innovator Will Nurture Ideas for Healthcare Industry

HEALTHCARE: St. Joseph offshoot teams with companies

One of Orange County’s legacy health systems is collaborating with others in an effort to advance innovation in healthcare by developing products and services stemming from inventions and ideas of doctors and employees.

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50 Cent Puts Some Cents into Fountain Valley Startup

Invests Undisclosed Figure in Celebrity Application

Rapper Curtis “50 Cent” Jackson has invested in Fountain Valley startup MEDL Mobile Holdings Inc.’s latest application, which allows fans to follow their favorite musicians, athletes and actors through a live stream.

NB Shoots for Touchdown From BCS Business

Hotels, City Marketers Prepare to Host Contingent in Area for Big Game

Newport Beach hotels are expected to see a big lift in business during what’s historically a slow period for the industry

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Confie Seguros Acquires Two Agencies

Huntington Beach-based insurance broker Confie Seguros Insurance Services acquired DeFranco Insurance Agency Inc. in New York and Insurance Group of America Inc. in Florida.

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School, Ad Agency to Study Brand Values

The College of Communications at California State University, Fullerton, has partnered with DGWB Advertising & Communications in Santa Ana to form the Center for Brand Values Communication and Research at CSUF.

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Billabong Sells West 49 Chain in Canada

The parent of Irvine-based Billabong USA announced the sale of its West 49 chain in Canada as the action-sports apparel company and retailer continues to focus on turning around its business.

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ADDENDUM - November 11, 2013

Other items of interest Orange County Business Journal

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Village Crean Compound Sold for $10.6 Million

Has Ice Cream Parlor, Large Apt., 20 Car Spots

Philanthropists John and Donna Crean built The Village Crean compound at 2300 Mesa Drive in Newport Beach in 1990, designing it to take advantage of the sweeping views of Newport’s back bay.

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Chain Sees Sales Jump With Raw-Juice Bar Retrofits

RESTAURANTS: Set to see 20 more by end of 2014

Juice It Up! has its sights set on growth following a two-year brand refresh that included the closure of underperforming stores and the addition of raw juice bars to boost sales.

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Group Guides Veterans in Their New Lives Back Home

Nonprofit Offers Counseling With Little Red Tape Attached

Ten years ago, marriage and family therapist Jill Boultinghouse received a phone call from the worried wife of a military veteran

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Local Banks Notch Third Year of Asset, Profit Growth

Opus Again Tops, With $3.2B in Assets, Up 29%

The largest Orange County-based banks picked up the pace of growing their assets over the past year. Includes the 2013 OC's LARGEST OC-BASED COMMERCIAL BANKS list for download (pdf)

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Credit Unions’ Growth Is More Evenly Spread

SchoolsFirst Federal’s Role Diminishes As Others Rise

Growth was visible on several fronts for Orange County’s credit unions over the past year. Includes the 2013 OC's LARGEST CREDIT UNIONS list for download (pdf)

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Shelter for the Wounded

Businessman Gives Empty Homes to Returning Veterans

Serendipity—it’s not a word often associated with the challenge of providing housing for wounded war veterans, but in the case of the nonprofit organization Apartments4Heroes, it’s apropos.

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Update on Augie; Pelican Hill Preview; Yorba Linda Listed

OC INSIDER by Jerry Sullivan

Friday, November 8

Laguna Strategic Sees Consultant Roster Double

Irvine-based Laguna Strategic Advisors LLC said the number of consultants who are now part of its consortium has doubled since the company’s founding about a year ago.

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Local Theme Parks Bring Big Gains for Parent Cos.

The parents of several local amusement parks saw strong earnings in their recently ended quarters as gains in guest spending and attendance helped boost revenue.

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Midday Stock Roundup

The S&P 500 was up 0.99% to 1,764.49 in afternoon trading Friday.

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Microsemi September Quarter Earnings Meets Street, Outlook Misses

Aliso Viejo-based chipmaker Microsemi Corp. on Thursday reported September quarter earnings in line with Wall Street expectations and provided a revenue and profit outlook in the current quarter below estimates.

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Ensign Group Splitting in Two

The Ensign Group Inc., a Mission Viejo nursing home operator, is planning to split itself into two publicly traded companies.

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Clean Energy Reports Mixed Q3

Newport Beach-based Clean Energy Fuels Corp. on Thursday reported mixed third-quarter earnings.

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Universal Electronics Reports Mixed Q3, Outlook in Line

Santa Ana-based Universal Electronics Inc. on Thursday reported mixed earnings for the third quarter and provided an outlook for the current quarter in line with Wall Street expectations.

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Wet Seal Sees Quarterly Net Sales Decline

Foothill Ranch-based Wet Seal Inc. said Thursday that its net sales for the quarter ended Nov. 2 fell in what's shaping up to be a tough business environment for many retailers heading into the holiday selling season.

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Kelley Blue Book Extends Reach to China

Irvine-based Kelley Blue Book Co. partnered with automotive marketing agency Bitauto Holdings Ltd. and China Automobile Dealers Association to provide vehicle valuation and pricing information to Chinese consumers.

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New Details on Ex-Billabong Exec's Startups

Paul Naudé, the former head of Irvine-based Billabong USA, is working on new apparel and eyewear lines.

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Thursday, November 7

Clean Energy Reports Mixed Q3

Newport Beach-based Clean Energy Fuels Corp. on Thursday reported mixed third-quarter earnings.

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Universal Electronics Reports Mixed Q3, Outlook in Line

Santa Ana-based Universal Electronics Inc. on Thursday reported mixed earnings for the third quarter and provided an outlook for the current quarter in line with Wall Street expectations.

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Wet Seal Sees Quarterly Net Sales Decline

Foothill Ranch-based Wet Seal Inc. said Thursday that its net sales for the quarter ended Nov. 2 fell in what's shaping up to be a tough business environment for many retailers heading into the holiday selling season.

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New Details on Ex-Billabong Exec's Startups

Paul Naudé, the former head of Irvine-based Billabong USA, is working on new apparel and eyewear lines.

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Microsemi September Quarter Earnings Meets Street, Outlook Misses

Aliso Viejo-based chipmaker Microsemi Corp. on Thursday reported September quarter earnings in line with Wall Street expectations and provided a revenue and profit outlook in the current quarter below estimates.

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Midday Stock Roundup

The S&P 500 slipped 0.76% to 1,756.96 in afternoon trading Thursday.

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Blizzard Loses more Warcraft Subscriptions

Irvine-based video game maker Blizzard Entertainment Inc. saw sales and operating income sink in the third quarter as it lost about 100,000 World of Warcraft subscribers.

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Nike Names New VP for Action-Sports Division

The parent of Costa Mesa-based Hurley International LLC tapped a new executive to oversee the company’s action-sports business.

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Nvision Acquires Sacramento Clinic

Newport Beach-based Nvision Laser Eye Centers Inc. bought the Capital Eye Medical Group in Carmichael from ophthalmic surgeon Dr. Mitra Ayazifar.

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Hockey Player to Open High-End Steakhouse

Anaheim Ducks forward Teemu Selanne is set to open Selanne Steak Tavern on Friday.

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Wednesday, November 6

Nike Names New VP for Action-Sports Division

The parent of Costa Mesa-based Hurley International LLC tapped a new executive to oversee the company’s action-sports business.

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Blizzard Loses more Warcraft Subscriptions

Irvine-based video game maker Blizzard Entertainment Inc. saw sales and operating income sink in the third quarter as it lost about 100,000 World of Warcraft subscribers.

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Midday Stock Roundup

The S&P 500 rose 0.39% to 1,769.89 in afternoon trading Wednesday.

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Mindspeed Set for Sale, Reports Mixed Earnings

Shares of Mindspeed Technologies Inc. skyrocketed on Wednesday, a day after the Newport Beach-based chipmaker announced it will be acquired for $272 million by a Massachusetts competitor and will sell its wireless business to an unnamed strategic buyer.

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CSUF, Ad Agency Start Communications Center

The College of Communications at California State University Fullerton has partnered with DGWB Advertising & Communications in Santa Ana to form the Center for Brand Values Communication and Research at CSUF.

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Tuesday, November 5

CSUF, Ad Agency Start Communications Center

The College of Communications at California State University Fullerton has partnered with DGWB Advertising & Communications in Santa Ana to form the Center for Brand Values Communication and Research at CSUF.

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Mindspeed Set for Sale, Reports Mixed Earnings

Shares of Mindspeed Technologies Inc. skyrocketed in after-hours trading Tuesday after the Newport Beach-based chipmaker announced it will be acquired for $272 million by a Massachusetts competitor and will sell its wireless business to an unnamed strategic buyer.

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Midday Stock Roundup

The S&P 500 fell 0.08% to 1,766.50 in afternoon trading Tuesday.

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Pimco’s Total Return Loses Title as Biggest

Pacific Investment Management Co.’s Total Return Fund, managed by Bill Gross, is no longer the world’s largest mutual fund, a distinction it had held since 2008.

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Confie Buys in NY, Florida

Huntington Beach-based insurance broker Confie Seguros Insurance Services acquired DeFranco Insurance Agency Inc. in New York and Insurance Group of America Inc. in Florida.

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NB Bank Buys in Riverside

Newport Beach-based Independence Bank has agreed to acquire Premier Service Bank in Riverside for $8.6 million.

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VC Firm Raises $5M for Alternative Funding

Anaheim Hills-based venture capital firm Metrix Capital Group LLC has raised $5 million to invest in small- to medium-sized businesses.

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Monday, November 4

Confie Buys in NY, Florida

Huntington Beach-based insurance broker Confie Seguros Insurance Services acquired DeFranco Insurance Agency Inc. in New York and Insurance Group of America Inc. in Florida.

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Pimco’s Total Return Loses Title as Biggest

Pacific Investment Management Co.’s Total Return Fund, managed by Bill Gross, is no longer the world’s largest mutual fund, a distinction it had held since 2008.

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Midday Stock Roundup

The S&P 500 was up 0.15% to 1,764.35 in afternoon trading Monday.

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TRI Pointe in $2.7B Deal for Weyerhaeuser

Irvine-based TRI Pointe Homes Inc. confirmed on Monday it would be acquiring the homebuilding division of Federal Way, Wash.-based timber conglomerate Weyerhaeuser Co., in a $2.7 billion deal.

Billabong Sells West 49

The parent of Irvine-based Billabong USA on Sunday evening announced the sale of its West 49 chain in Canada as the action sports apparel company and retailer continues to focus on turning around its business.

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HB Hotel Market Sees Big September Gains

Huntington Beach hotels had the strongest performance in September based on three key industry measures, according to the latest report from industry researcher PKF Consulting USA.

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Automakers See October Sales Rise

Automakers here and nationally bounced back last month from a weak September for vehicle sales.

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CALENDAR OCBJ

Nov. 4-13, 2013

A listing of business events happening all around Orange County.

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Saturday, November 2

Healthcare Sector Lives Up to Reputation

Several Segments Help Rev Up Growth Rates

Orange County’s reputation as a center of the healthcare industry is borne out in the Business Journal’s annual lists of fastest-growing public companies based here. Includes the 2013 OC's FASTEST-GROWING PUBLIC COs list for download (pdf)

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Tech Firms Take Divergent Ways Up

Bigs Grow on Buys; New Trends, Products Drive Gains by Smaller Companies

This year’s lists of fastest-growing public companies based in Orange County feature a diverse group in the local technology sector, with large and relatively small companies taking different paths to their places in the rankings. Includes the 2013 OC's FASTEST-GROWING PUBLIC COs list for download (pdf)

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New Pace for Fast Growers

3 Categories Combine for $90B in Revenue, 24.3% Growth Rate

The fastest-growing public companies in Orange County followed divergent paths over the past year. Includes the 2013 OC's FASTEST-GROWING PUBLIC COs list for download (pdf)

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NB Investment Bank Eyes New SEC Regs

FINANCE: Digital Offering to link issuers, investors online

Newport Beach-based investment bank Digital Offering LLC is betting on recent changes that allow companies to publicly advertise and solicit investors as they seek to raise private placement capital.

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UCI Spinout’s Software Set for HTC Phones

TECHNOLOGY: Licensing deal for search engine software

SRCH2 Inc., a spinout of University of California, Irvine, has struck a licensing deal with HTC Corp. that’s expected to add millions in revenue and put the startup on the map.

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Solis Capital Takes Stake in Irvine Telecom

FINANCE: Cites potential for scale at Horizon Communications

Irvine-based telecommunications company Horizon Communications Technologies has sold a “significant” ownership stake to Solis Capital Partners LLC, a private equity firm in Newport Beach.

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Creative Office Trend Passes Price Test With Sale of Fox Head HQ

REAL ESTATE: Renovated campus for apparel label fetches $334 per SF

The Irvine headquarters of motocross apparel company Fox Head Inc. has traded hands for about $27.3 million

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Pyott Says Allergan a Shopper in Wake of Lap-Band Sale

HEALTHCARE: Prefers acquisitions to ‘sitting on’ $2.7B pile of cash

Irvine-based drug maker Allergan Inc. is sticking to its guns when it comes to expectations for its business units.

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Jannard’s‘Behemoth;’ Cash Crop of Yesteryear; Arte Drills Down

OC INSIDER Column by Jerry Sullivan

Broadcom Earnings Renew Wall Street Concerns

Broadcom Corp.’s recent third-quarter earnings report and analyst conference call highlighted some lingering problems

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Public Builders Dominate New Irvine Co. Development

Orchard Hills In North Irvine Scheduled to Open in Spring

A quartet of publicly traded homebuilders and one local builder looking to go public appear set to head up the first batch of residential development at Irvine Company’s long-awaited Orchard Hills community.

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Greater LA Office Market Grows Slowly, More Expected

REAL ESTATE WATCH: GREATER LOS ANGELES

The Greater Los Angeles office market gained momentum toward the end of the third quarter.

UC Irvine Business School Jumps Into Marketing Mix

Teams With Other School to Study Budgets

The Paul Merage School of Business at the University of California, Irvine, is working on establishing industry-specific benchmarks for marketing budgets and marketing mix allocations.

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ICU Medical Answers Leadership-Change Questions

Founder George Lopez Is Moving to R&D Role

San Clemente-based ICU Medical Inc. is entering a new phase in its history, one in which Dr. George Lopez, its founder, is no longer running the show on a daily basis.

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‘Pipeline in a Pill’

Nuedexta Led Avanir to Increase of 1,088%

Avanir Pharmaceuticals Inc. has ridden its “pipeline in a pill” to rapid growth over the past two years.

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Questcor Rises

Sales Gains Continue, Up-and-Down Shares Mostly Up These Days

Anaheim-based Questcor Pharmaceuticals Inc. has used one major drug to fire up revenue growth.

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Banc Shot!

Big Growth, New Name, Move to Costa Mesa HQ in Works

Managing fast growth has been just as important to Banc of California Inc. as making it happen in the first place.

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ADDENDUM

November 2, 2013

Other items of interest in the Orange County Business Journal

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PHILANTHROPY

Philanthropy Column by Kim Haman

Couple Brings Japanese-California Fusion to OC

Hush Veteran Reyes Back in Old LB Spot

Okura, a robata grill and sushi restaurant, has opened in Laguna Beach and is making use of the space that previously housed Hush and then Katsuya.

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Oakley Moves Eyewear Subsidiary to OC

Oakley Inc. is relocating its Eye Safety Systems subsidiary from Sun Valley, Idaho, to its Foothill Ranch headquarters.

Ingram Micro Buys Logistics Provider

Ingram Micro Inc. acquired Shipwire Inc., a cloud-based logistics services pro-vider with customers in more than 50 countries.

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TTM Technologies Names a New Leader

Costa Mesa-based printed circuit board maker TTM Technologies Inc. last week announced a leadership change and third-quarter earnings that missed Wall Street expectations.

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CashCall Branches Into Automobile Loans

Anaheim-based consumer-finance lender CashCall Inc. formed an automobile loan division to serve car dealers and consumers “across varying credit levels.”

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Register Circulation Dips Despite New Hires, Sections

MEDIA: Audit indicates rugged start for ‘subscriber-first’ strategy

The “subscriber-first” strategy Freedom Communication Inc. started a year ago has yet to bear fruit in terms of total paid circulation for the print edition of its flagship Orange County Register.

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BJ’s Takes Steps to Meet Challenges

Trims Menu Items, Kitchen Procedures in Bid to Reduce Wait Times

Managing shareholder expectations has been a theme this year for Huntington Beach-based BJ’s Restaurants Inc.

Western Digital Takes Top OC Tech Spot for Market Cap

Surpasses Broadcom, Second to Allergan Overall

Broadcom Corp.’s decade-long run as Orange County’s largest technology company by market value has come to an end at the hand of another Irvine-based business.

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Friday, November 1

HB Hotel Market Sees Big September Gains

Huntington Beach hotels had the strongest performance in September based on three key industry measures, according to the latest report from industry researcher PKF Consulting USA.

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Automakers See October Sales Rise

Automakers here and nationally bounced back last month from a weak September for vehicle sales.

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Midday Stock Roundup

The S&P 500 fell 0.04% to 1,755.75 in afternoon trading Friday.

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Volcom Names President for North America

Costa Mesa-based Volcom Inc. named veteran OC apparel executive Kevin Meehan president of its North America business.

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Ganahl Elected President of West Coast Lumber, Building Group

Mark Ganahl of Anaheim-based Ganahl Lumber Co. has been elected president of the West Coast Lumber & Building Material Association for 2014.

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Plaza Bank Profit, Assets Up in Q3

Irvine-based Plaza Bank reported a 62% increase in net income in the third quarter, to $1.4 million.

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