Stories for October 2013

Thursday, October 31

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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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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Midday Stock Roundup

The S&P 500 rose 0.06% to 1,764.30 in afternoon trading Thursday.

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TTM Names CEO, Reports Q3 Earnings

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

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CashCall Starts Vehicle Lending Unit

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

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Auto Club No. 1 in J.D. Power Ranking

The Automobile Club of Southern California Insurance Group ranked No.1 in the latest auto-claims satisfaction study conducted by J.D. Power and Associates, a global marketing information services firm.

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Wednesday, October 30

CashCall Starts Vehicle Lending Unit

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

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TTM Names CEO, Reports Q3 Earnings

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

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Auto Club No. 1 in J.D. Power Ranking

The Automobile Club of Southern California Insurance Group ranked No.1 in the latest auto-claims satisfaction study conducted by J.D. Power and Associates, a global marketing information services firm.

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Midday Stock Roundup

The S&P 500 was down 0.35% to 1,765.83 in afternoon trading Wednesday.

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Questcor’s Slide Continues

Shares of Anaheim-based drug maker Questcor Pharmaceuticals Inc. continued their free fall today, a day after it confirmed that regulators have joined an ongoing investigation of the company.

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JWA September Traffic Rises 3%

Total passenger traffic at John Wayne Airport totaled 728,971 in September, up 3% from a year earlier.

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PacSun Retail SVP to Depart in November

The head of retail for Anaheim-based Pacific Sunwear of California Inc. is set to resign from the company Nov. 8, according to a Monday filing with the Securities & Exchange Commission.

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Tuesday, October 29

JWA September Traffic Rises 3%

Total passenger traffic at John Wayne Airport was 728,971 in September, up 3% from a year earlier.

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Questcor Dips on Federal Probe News

Anaheim-based Questcor Pharmaceuticals Inc.’s stock fell in after-hours trading today on concerns over the widening of a U.S. Justice Department investigation of promotional practices for its primary drug.

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PacSun Retail SVP to Depart in November

The head of retail for Anaheim-based Pacific Sunwear of California Inc. is set to resign from the company Nov. 8, according to a Monday filing with the Securities & Exchange Commission.

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Midday Stock Roundup

The S&P 500 rose 0.38% to 1,768.81 in afternoon trading Tuesday.

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Allergan Selling Obesity Intervention Business

Irvine-based Allergan Inc. said today that it has a deal to sell its Lap-Band and Orbera weight loss devices to Austin-based Apollo Endosurgery Inc. for $75 million in cash and other considerations.

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Ingram Micro Buys Logistics Firm in Palo Alto

Ingram Micro Inc. has acquired Shipwire Inc., cloud-based logistics services provider with customers in more than 50 countries.

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La Jolla Group, Rusty End Licensing Deal

Irvine-based action sports apparel licensing company La Jolla Group Inc. will end a deal with Rusty North America in a bid to focus on what the company called its "operational backbone and core competencies."

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Allergan Beats for Q3, Tamps Down Q4 Outlook

Irvine-based drug maker Allergan Inc. today reported third-quarter results that beat analysts’ estimates and issued guidance for the current quarter.

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Oakley to Consolidate Defense Business in OC

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

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Quiksilver Sells Mervin for $51.5M

The purchase price of Quiksilver Inc. snowboarding subsidiary Mervin Manufacturing Inc. was $51.5 million, according to a Monday filing with the Securities & Exchange Commission.

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Monday, October 28

Oakley to Consolidate Defense Business in OC

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

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Quiksilver Sells Mervin for $51.5M

The purchase price of Quiksilver Inc. snowboarding subsidiary Mervin Manufacturing Inc. was $51.5 million, according to a Monday filing with the Securities & Exchange Commission.

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Midday Stock Roundup

The S&P 500 rose 0.18% to 1,762.98 in afternoon trading Monday.

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Edwards Cuts Forecast, Shares Down

Irvine-based Edwards Lifesciences Corp.’s shares fell today after the heart valve maker issued a lower-than-expected earnings forecast for the current quarter.

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Drug Maker Dendreon Jumps on Sale Report

Dendreon Corp., a drug maker with a Seal Beach plant that employs an estimated 250 workers, surged today after published reports indicated it was putting itself up for sale.

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Volcom Footwear Leads Brand’s Q3 Gains

Sales of Costa Mesa-based Volcom Inc. grew 2% during the third quarter, aided in part by the performance of the company’s new shoe line, according to its parent Kering.

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Sanuk Q3 Sales Up, Set to Expand Action-Sports Presence

Irvine-based Sanuk USA LLC saw modest sales growth in the September quarter, driven by several factors including gains in the company’s global wholesale business.

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Sunday, October 27

Conditions Are Ripe to Pick Alternative Investments

Interest Rates Push Search, But Such Fruits Are Riskier

The persistent low-interest-rate environment has pushed more financial advisers and investors to explore asset classes other than the traditional stock and bond markets

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CT Realty Gets Coupon Marketer’s Headquarters

REAL ESTATE: Money Mailer slims down in Garden Grove

The Garden Grove headquarters of Money Mailer LLC has been sold

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Financial Firms Shed Advisers After Three-Year Gain

Firm Rankings Stay About the Same

The number of registered representatives at the largest financial advisory firms in Orange County declined by 4% over the past year

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Brothers Bren Both Busy; Boehner’s Take on Leadership

OC INSIDER by Jerry Sullivan

Newport Beach Drone Specialist Plans Move to SF

TECHNOLOGY: VC money prompts decision on new HQ

A promising Newport Beach startup that makes operating systems software for commercial drones is moving its headquarters to San Francisco.

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Met Back on With Midrise Apartments

REAL ESTATE: $17.25M for South Coast Metro property

A vacant parcel of land in Santa Ana that was eyed as a site for a high-rise condominium tower before a shift to plans for midrise apartments has been sold to a Beverly Hills-based developer.

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Equity Office Back on OC Scene in Big Way

REAL ESTATE: Blackstone unit in buy near South Coast Plaza

Chicago-based Equity Office Management LLC has bought an office complex near South Coast Plaza in Costa Mesa

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Asics America Enters New Arena With Branded Retail

RETAIL: Stores in NY, Fashion Island; more to come

Asics America Corp. has staked claims on the East and West coasts with a pair of branded stores

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TRI Pointe Looks for Quantum Leap With Weyerhaeuser Buy

REAL ESTATE: 5 homebuilders on block; price pegged at $2.7 billion

Irvine-based TRI Pointe Homes Inc. becoming one of the country’s 20 largest builders.

Sage Set on ‘Branded House’

North American Ad Campaign Test Drive for Global Push

Sage North America is out to transform itself from “a house of brands” to a “branded house.”

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Art, Commerce Both Fit in SCR’s ‘Cigar Box’

Beyond Work

David Emmes and Martin Benson had little more than talent and a vision back in 1964

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KBS Doubles Down on Premium Play in Big Windy City Buy

REAL ESTATE: $435M price tag expected for 2nd Chicago skyscraper

KBS Realty Advisors remains upbeat about the market for high-end offices around the country

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Western Realco Plans 20-Acre Industrial Development

Bought Brea Land, Building From Suzuki Motor

Newport Beach-based Western Realco plans to put its next big industrial development in Orange County

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Inland Empire Industrial on Comeback Trail

REAL ESTATE WATCH: Inland Empire

The third quarter offered another indicator of growing strength in the industrial market in the Inland Empire

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Acacia Lost Ground After Medical Sector Proved Tough

Q3 Revenue Fell 55% From a Year Earlier

What a difference a year makes.

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Taco Bell Aims for Nothing But Net With the NBA

New Deal Puts Chain’s Ads on Hoops Shows

Taco Bell Corp.’s newly expanded marketing partnership with the NBA will include a digital and social media effort

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MemorialCare Collaborates With UCI Health Again

Pair Now to Offer Stroke Care Program In OC, LA

Individual hospitals owned by Fountain Valley-based nonprofit MemorialCare Health System are finding other ways to team up with UC Irvine Health.

International Buyers Keep Pushing Up Luxury Market

Many Seek Houses to Steer Clear of Taxes Back Home

International buyers have contributed to the steady growth of prices in the luxury market over the past two years.

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ADDENDUM

October 28, 2013

Other items of interest in the Orange County Business Journal

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Versant to Raise $250M for 5th Fund

Healthcare-oriented early stage investor Versant Ventures is raising a $250 million fund

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Microsemi to Acquire San Jose Company

Aliso Viejo-based chipmaker Microsemi Corp. said it is set to acquire a San Jose company that specializes in timing technology.

Quiksilver to Sell Snowboarding Subsidiary

Huntington Beach-based action-sports apparel maker and retailer Quiksilver Inc. said it plans to sell its snowboarding subsidiary.

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Broadcom Announces 9% Workforce Cut

Irvine-based chipmaker Broadcom Corp. announced a restructuring plan that will cut as many as 1,150 jobs, about 9% of its global workforce.

USGI Cleared for Trial on Weight-Loss Devices

HEALTHCARE: Lauds FDA for ‘realistic’ approach

San Clemente-based USGI Medical Inc. is moving along with development of its less-invasive devices for weight loss.

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New Life for Central County ‘Zombie’ Buildings

REAL ESTATE: 1.1 million SF up for bid in two separate deals

Four of Central Orange County’s better-known office buildings are on the sales block

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Saturday, October 26

CALENDAR OCBJ

Oct. 28-Nov. 6 and Nov. 13, 2013

A listing of business events happening all around Orange County.

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Friday, October 25

Volcom Footwear Leads Brand’s Q3 Gains

Sales of Costa Mesa-based Volcom Inc. grew 2% during the third quarter, aided in part by the performance of the company’s new shoe line, according to its parent Kering.

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Sanuk Q3 Sales Up, Set to Expand Action-Sports Presence

Irvine-based Sanuk USA LLC saw modest sales growth in the September quarter, driven by several factors including gains in the company’s global wholesale business.

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Midday Stock Roundup

The S&P 500 was up 0.18% to 1,755.18 in afternoon trading Friday.

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Western Digital Reports Better-Than-Expected Earnings

Irvine-based disk drive maker Western Digital Corp. on Thursday reported revenue and adjusted profits in the September quarter that beat Wall Street estimates.

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BJ's Sinks on Q3 Results

Investors sent shares of BJ's Restaurants Inc. down in afternoon trading Friday, a day after the company revealed weaker-than-expected results for its October quarter.

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Ingram Reports Mixed Q3

Santa Ana-based Ingram Micro Inc. on Thursday reported mixed financial results for the third quarter.

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New CEO for Costa Mesa Bank

Banking industry veteran Ash Patel has joined Costa Mesa-based Commercial Bank of California as president and chief executive. Patel succeeds Bala Balkrishna, who is expected to stay as a director of the bank.

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La Palma's Innovation Institute Gets Second Owner

The Innovation Institute, a La Palma company that was founded by Irvine-based St. Joseph Health, said Thursday that Bon Secours Health System has joined it as an investor.

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Thursday, October 24

Ingram Reports Mixed Q3

Santa Ana-based Ingram Micro Inc. on Thursday reported mixed financial results for the third quarter.

Western Digital Reports Better-Than-Expected Earnings

Irvine-based disk drive maker Western Digital Corp. on Thursday reported revenue and adjusted profits in the September quarter that beat Wall Street estimates.

La Palma's Innovation Institute Gets Second Owner

The Innovation Institute, a La Palma company that was founded by Irvine-based St. Joseph Health, said today that Bon Secours Health System has joined it as an investor.

CSUF Forecast: More Job Growth for OC Next Year

Orange County will likely add jobs at a slightly faster clip next year, according to the latest economic analysis and forecast report by economists at California State University, Fullerton.

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Midday Stock Roundup

The S&P 500 was up 0.20% to 1,749.85 in early afternoon trading Thursday.

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CoreLogic Stock at New High After Strong Q3

Shares of CoreLogic Inc. surged to their highest-ever level on Thursday, a day after the Irvine-based provider of residential property information and analytics reported strong third-quarter earnings.

Versant Raising $250M Fund

Healthcare-oriented early-stage investor Versant Ventures is raising a $250 million fund, according to a filing with the Securities and Exchange Commission.

Sabra Gets Lifts on Q3 Results

Shares of Irvine-based Sabra Health Care REIT Inc. notched another modest gain after it posted a strong third-quarter reporter and trimmed guidance for the full year.

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Wednesday, October 23

Sabra’s Q3 Results Mixed

Irvine-based Sabra Health Care REIT Inc. today reported mixed third-quarter results.

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Versant Raising $250M Fund

Healthcare-oriented early-stage investor Versant Ventures is raising a $250 million fund, according to a filing with the Securities and Exchange Commission.

Broadcom Bouncing Back

Broadcom Corp. shares are making a modest comeback in afternoon trading Wednesday after taking a big hit after hours yesterday.

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Midday Stock Roundup

The S&P 500 fell 0.48% to 1,746.26 in afternoon trading Wednesday.

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Quiksilver Sells Snowboarding Subsidiary

Huntington Beach-based action sports apparel maker and retailer Quiksilver Inc. said Wednesday it has sold its snowboarding subsidiary.

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CashCall Files for Job Cuts

Anaheim-based mortgage lender CashCall Inc. has indicated it could lay off as many as 769 workers in coming weeks.

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OC Auto Sales Up 9.1% in Q3

Sales at Orange County auto dealers rose 9.1% to 43,745 vehicles in the third quarter compared to the same period last year, according to Newport Beach-based Orange County Automobile Dealers Association.

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Tuesday, October 22

OC Auto Sales Up 9.1% in Q3

Sales at Orange County auto dealers rose 9.1% to 43,745 vehicles in the third quarter compared to the same period last year, according to Newport Beach-based Orange County Automobile Dealers Association.

Broadcom Shares Dip, Job Cuts Planned

Broadcom Corp. shares sank in extended trading Tuesday after the Irvine-based chipmaker provided revenue targets for the current quarter below Wall Street expectations and announced a restructuring plan that will cut as many as 1,150 jobs, about 10% of its global workforce.

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CashCall Files for Job Cuts

Anaheim-based mortgage lender CashCall Inc. has indicated it could lay off as many as 769 workers in coming weeks.

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Midday Stock Roundup

The S&P 500 rose 0.42% to 1,752.03 in afternoon trading Tuesday.

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Microsemi Corp. to Buy Bay Area Company

Microsemi Corp. is set to acquire a San Jose company that specializes in timing technology for $230 million, the Aliso Viejo chipmaker announced Monday.

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Vans to Get Marketing Boost for Year-End

Cypress-based Vans Inc. will benefit from parent V.F. Corp.’s announcement Monday that the action-sports apparel and footwear brand will get a chunk of $30 million worth of marketing planned for this quarter.

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Lopez Steps Down as ICU Medical’s CEO

San Clemente-based medical device maker ICU Medical Inc. said today that Dr. George Lopez has stepped down as chief executive, citing reasons of health.

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OC Venture Capital Funding Up in Q3

Orange County-based businesses received $188.1 million in venture capital money in the third quarter, a 31% increase from the same time a year ago.

NB Wealth Advisory Firm Raises $38M

Newport Beach-based wealth advisory firm United Capital Financial Partners Inc. has raised $38 million in a funding round led by Sageview Capital LP.

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Monday, October 21

Vans to Get Marketing Boost for Year-End

Cypress-based Vans Inc. will benefit from parent V.F. Corp.’s announcement Monday that the action-sports apparel and footwear brand will get a chunk of $30 million worth of marketing planned for this quarter.

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Lopez Steps Down as ICU Medical’s CEO

San Clemente-based medical device maker ICU Medical Inc. said today that Dr. George Lopez has stepped down as chief executive, citing reasons of health.

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OC Venture Capital Funding Up in Q3

Orange County-based businesses received $188.1 million in venture capital money in the third quarter, a 31% increase from the same time a year ago.

Midday Stock Roundup

The S&P 500 was up 0.03% to 1,745.10 in afternoon trading Monday.

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NB Wealth Advisory Firm Raises $38M

Newport Beach-based wealth advisory firm United Capital Financial Partners Inc. has raised $38 million in a funding round led by Sageview Capital LP.

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Edison Mission Energy Sold for $2.6B

Santa Ana-based Edison Mission Energy has been acquired out of bankruptcy by NRG Energy Inc. for $2.64 billion.

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Medical Device Maker Lands Third Funding Round

Irvine-based Insightra Medical Inc. said today that it closed a third round of financing. Terms weren’t disclosed.

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Sunday, October 20

CALENDAR OCBJ

Oct. 21-30 and Nov. 13, 2013

A listing of business events happening all around Orange County.

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Some SCE Customers Expect Hikes With ‘Time of Use’

UTILITIES: Jan. 1 switch for 400,000 businesses in region

Print shop co-owner Hilda Sanchez got a jolt last month when she opened a letter from Southern California Edison

Brea Office Expected to Go for $30 Million or More

1800 E. Imperial Owned by LBA, Cigna Unit

The Brea office building that holds a bulk of the operations of Veterinary Pet Insurance Co. is up for sale.

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Commercial Construction Builds Steam in Recovery

REAL ESTATE WATCH: Orange County Construction

Construction is starting to regain momentum.

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REAL ESTATE DEALS

October 21, 2013

R.E. Chaix & Associates Insurance Brokers Inc. recently signed a lease at 3200 El Camino Real, Ste. 290 in Irvine.

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Kofax Shows Off Cloud Service Built on Acquisitions

Bills Product As Business Growth, Profits Catalyst

Business software maker Kofax PLC has launched the most significant product rollout in its 28-year history.

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Ubiquity Broadcasting Gets Closer to Ubiquitous

Multimedia Company Buys Online Advertising Tools

Ubiquity Broadcasting Corp., a multimedia company based in Irvine, acquired two online advertising tools from Think Design Media Inc.

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Online Industry Observer Gives Questcor Thumbs Up

Blogger, Shareholder Sees Robust Company Growth

Anaheim-based Questcor Pharmaceuticals Inc. has taken its share of blows on investor websites

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Santa Ana’s Shoemaker

Old-Style Cobbler Keeps Father’s Vision of Factory Alive As He Hand-Makes Shoes

Alex Aldana makes shoes by hand, using the same methods his father brought to Orange County decades ago.

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Dean of Clean

Earth Friendly Started OC Production in 1977, Seeks Bigger Factory

It’s a good problem for a manufacturing company when its 90,000-square-foot facility starts to look too small.

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That’s How He Rolls

MINT Produces ‘Super Luxury’ in Costa Mesa, Markets to World

Alex Palanjian is the first to say no one needs a custom set of wheels.

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ADDENDUM

October 21, 2013

Other items of interest in the Orange County Business Journal

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PHILANTHROPY

Philanthropy Column by Kim Haman

Extron Electronics Expands to Texas

Anaheim-based Extron Electronics Inc. expanded operations into Texas

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Company Gets $22M for Database Systems

Irvine-based TigerLogic Corp. sold its database management systems business for $22 million to a Massachusetts software maker.

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ClearLight Gets Fitness Club Franchisee

Newport Beach-based private equity firm ClearLight Partners LLC acquired a “significant ownership interest” in Taymax Fitness Holdings LLC

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Telecom Industry Posts Slight Growth Over Year Ago

Continues to Make Up Recession-Era Job Cuts

Orange County’s telecom industry posted more modest growth in local employment.

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New Thales Avionics CEO Banks on Innovation

AEROSPACE: Irvine-based Company debuts latest system

Dominique Giannoni was hand-picked to pilot Irvine-based Thales Avionics’ next leg of growth and innovation.

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Versant in $4.7M Round for Incubator

FINANCE: Co-leads round for Aliso Viejo device maker

Inceptus Medical LLC, an Aliso Viejo-based incubator focused on creating and growing medical device companies, raised $4.7 million for its Inari Medical Inc..

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Will Clean Energy Fuel Brand Boost Growth?

ENERGY: Analysts mixed on its bet on natural gasoline

Clean Energy Fuels Corp.’s latest bet on renewable energy is getting mixed reviews on Wall Street.

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Cadigan Adds Apartments in North OC Deal

REAL ESTATE: Latest buy comps in Buena Park

Patrick Cadigan has added a 184-unit complex in Buena Park to his portfolio

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Irvine Concourse Buy Points to Liftoff for Airport Area Offices

REAL ESTATE: Price pegged at $114M, highest stand-alone this year

A New York City-based real estate investment firm has bought the 2030 Main St. office tower in Irvine

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Will Albertsons Sell Off Irvine Acreage?

Grocer ‘Considering Options’ on 74 Acres in Spectrum

Grocery store chain Albertsons is weighing the possibility of vacating a 1-million-square-foot distribution center

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Boehner Back on Schedule; Solar Decathlon’s Break

OC INSIDER Column by Jerry Sullivan

Wal-Mart’s West Coast Woman

Oversees 340 Stores, 119,400 Employees, Effort to Develop Female Execs

It’s personal for Kim Sentovich.

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Hoag, USC Plan Joint Effort on Cancer Care

HEALTHCARE: Comprehensive program at Newport Beach campus

Hoag Memorial Hospital Presbyterian and the University of Southern California are teaming up

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Friday, October 18

Midday Stock Roundup

The S&P 500 rose 0.57% to 1,742.99 in afternoon trading Friday.

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Acacia Shares Plummet on Q3 Report

Shares of Acacia Research Corp. plummeted in afternoon trading Friday, a day after the Newport Beach-based company reported third quarter revenue and adjusted profits that widely missed Wall Street expectations.

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Reports: Fisker Loan Sold to Hong Kong Investor Group

A Hong Kong investor group has emerged as the likely buyer of Anaheim-based Fisker Automotive Inc.'s Department of Energy loan, reports say.

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Advantage Buys Food Brokerage in Florida

Irvine-based Advantage Sales & Marketing LLC has agreed to acquire Tri-Venture Marketing Inc. in Lakeland, Fla. on undisclosed terms.

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Evolution Hospitality Lands New Hotel Contract

San Clemente-based Evolution Hospitality continues to grow its hotel portfolio.

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CoreLogic to Close Offices in L.A., Ventura Counties

Irvine-based real estate data and consulting services provider CoreLogic is laying off about 150 employees in Lancaster and Simi Valley amid a slowdown in mortgage refinancing.

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Tech Coast Angels Among Backers of SJC Software Maker

San Juan Capistrano-based TextPower Inc., which makes alert notification software, has secured $525,000 in its first institutional funding round.

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Thursday, October 17

CoreLogic to Close Offices in L.A., Ventura Counties

Irvine-based real estate data and consulting services provider CoreLogic is laying off about 150 employees in Lancaster and Simi Valley amid a slowdown in mortgage refinancing.

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Evolution Hospitality Lands New Hotel Contract

San Clemente-based Evolution Hospitality continues to grow its hotel portfolio.

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Advantage Buys Food Brokerage in Florida

Irvine-based Advantage Sales & Marketing LLC has agreed to acquire Tri-Venture Marketing Inc. in Lakeland, Fla. on undisclosed terms.

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Acacia Shares Plummet on Q3 Report

Shares of Acacia Research Corp. plummeted in after hours trading Thursday after the Newport Beach-based company reported third quarter revenue and adjusted profits that widely missed Wall Street expectations.

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Tech Coast Angels Among Backers of SJC Software Maker

San Juan Capistrano-based TextPower Inc., which makes alert notification software, has secured $525,000 in its first institutional funding round.

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TigerLogic Gets $22M for Database Line

Irvine-based TigerLogic Corp. has sold its database management systems business for $22 million to a Massachusetts software maker.

Midday Stock Roundup

The S&P 500 was up 0.36% to 1,727.76 in afternoon trading Thursday.

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Wednesday, October 16

Midday Stock Roundup

U.S. markets rose on a Senate deal struck Wednesday that would raise the debt ceiling and end the government shut down.

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Slower Mall Traffic Dims Wet Seal Q3 Outlook

Foothill Ranch-based teen and contemporary retailer Wet Seal Inc. lowered its guidance for the current quarter as retailers ramp up promotions going into the holiday selling season to boost slower sales.

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ClearLight Gets Stake in Health Club Operator

Newport Beach-based private equity firm ClearLight Partners LLC has acquired a “significant ownership interest” in Taymax Fitness Holdings LLC, a health club operator based in Bedford, N.H.

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Aliso Viejo Incubator Raises $4.7M

Inceptus Medical LLC, an Aliso Viejo-based incubator focused on developing medical device companies, raised $4.7 million for its Inari Medical Inc.

Tuesday, October 15

Slower Mall Traffic Dims Wet Seal Q3 Outlook

Foothill Ranch-based teen and contemporary retailer Wet Seal Inc. lowered its guidance for the current quarter as retailers ramp up promotions going into the holiday selling season to boost slower sales.

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ClearLight Gets Stake in Health Club Operator

Newport Beach-based private equity firm ClearLight Partners LLC has acquired a “significant ownership interest” in Taymax Fitness Holdings LLC, a health club operator based in Bedford, N.H.

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Extron Expands into Texas

Anaheim-based Extron Electronics Inc. has expanded operations into Texas with a new regional office, training center and product demonstration facility in Irving, outside of Dallas.

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Midday Stock Roundup

The S&P 500 slipped 0.27% to 1,705.46 in afternoon trading Tuesday.

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Monday, October 14

Extron Expands into Texas

Anaheim-based Extron Electronics Inc. has expanded operations into Texas with a new regional office, training center and product demonstration facility in Irving, outside of Dallas.

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Midday Stock Roundup

The S&P 500 rose 0.09% to 1,704.80 in afternoon trading Monday.

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Irvine Company to Take Over Management of Hyatt Regency Irvine

Irvine Company’s Resort Properties division is taking over management of the Hyatt Regency Irvine as the group looks to bolster its portfolio.

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Sunday, October 13

CALENDAR OCBJ

Oct. 14-23, 2013

A listing of business events happening all around Orange County.

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Saturday, October 12

Irvine Company to Take Over Management of Hyatt Regency Irvine

Irvine Company’s Resort Properties division is taking over management of the Hyatt Regency Irvine as the group looks to bolster its portfolio.

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OC Push for Chinese Tourists Plays in Beijing

TOURISM: OCVA opens office, announce special rates

The Orange County Visitors Association will open a second sales office in China

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Agency Goes Mobile With Luxury-Home Application

HÔM: More Buyers Are Shopping Online

LUXURY HOMES Column by Kim Haman

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ADDENDUM - October 14, 2013

Other items of interest in the Orange County Business Journal

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MBA Programs End Streak of Enrollment Declines

Programs Inch Up In Number From Year Earlier

Enrollment in master of business administration programs serving Orange County is up by nearly 1%. Includes the 2013 OC's DIRECTORY OF MBA SCHOOLS list for download (pdf)

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Whittier Law’s Hands-On Classes Aim for New Market

Law Firm Clients Now Require Real Experience

Whittier Law School is working on closing the practice-readiness gap

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Pizza Entrepreneur’s Latest: Italian-Style Burritos

DINING: John’s Incredible founder eyes fast-casual

Meet Burrissimo.

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Gen-E Snags Virgin Media for Stronger Europe Foothold

Company Aims to Broaden Adoption of Its Software

San Clemente-based business software maker gen-E has inked a deal with Virgin Media Inc.

AEW Capital Gets 109,000 SF, Prime Tenant at Summit

REAL ESTATE: Estimates range upward to $39 million

The Aliso Viejo headquarters of chipmaker Microsemi Corp. has been sold to a Boston-based institutional investor.

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Side of Data

Parlet Puts Priority on Programmers

Solid data management skills back John’s Incredible Pizza and now Burrissimo.

Housing Plan Places Premium on Patience

FINANCE: Buy-rent-sell allows time for credit repair

Irvine-based Cove Financial Group Inc. hopes patience will be a virtue in the real estate market

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Island Hotel Aims to Keep Pace on Change

HOSPITALITY: Lounge for ‘evolving’ customer base

The latest iteration of Irvine Company’s estimated multimillion-dollar update of its Island Hotel is a VIP lounge

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Haddad’s Hit Parade; Martin’s Reminder; Julia’s Hometown

OC INSIDER Column by Jerry Sullivan

VCs Take New View of Medical Device Makers

HEALTHCARE: ‘Value-based’ shift as part of reform goes beyond tech

Orange County’s medical device industry is due for some adjustments

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Irvine Company to Take Hyatt Regency In-House

HOTELS: To end management deal with chain, add to resort division

Irvine Company’s Resort Properties division is taking over management of the Hyatt Regency Irvine as the group looks to bolster its portfolio.

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Home Goods Chain Eyes U.S. Share From La Palma HQ

Think of a cross between IKEA, Target and Bed Bath & Beyond shoppers.

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Meggitt Senses Opportunity

Aerospace Supplier Builds ‘Premier Engineering and Manufacturing Center’ in Irvine

Orange County’s legacy in the aerospace industry and deep pool of engineering talent led Meggitt PLC to the doorsteps of a new 190,000-square-foot factory and office in Irvine.

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No Waffling on This Investment

Local restaurant industry veterans caught on quick to the growth potential of Anaheim-based gourmet waffle sandwich chain Bruxie.

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REAL ESTATE DEALS - September 14, 2013

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

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Mid-Counties Industrial Market Sees Big Jump in Activity

REAL ESTATE WATCH: THE MID-COUNTIES MARKET

Business optimism was evident in the Mid-Counties industrial market during the second quarter

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San Diego REIT Buys Huntington Beach Retail Center

ROIC Continues String of Acquisitions This Year

Retail Opportunity Investments Corp. is making a nearly $85 million investment in Huntington Beach’s retail market.

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Marketing Trade Group Doles Out Best-Of Awards

San Clemente Association Honors Industry Standouts

San Clemente-based Internet Marketing Association drew big names from the online advertising industry

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Kaiser to Spend $25M on Anaheim Cancer Office

First of Three Buildings On La Palma Avenue

Kaiser Permanente, the Oakland-based nonprofit that operates Orange County’s largest health plan, is expanding its cancer treatment options.

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Local Schools Experiment With a Developing Trend

MBA Programs Debate Merits of Open Learning Classes

More than 45,000 students are taking Peter Navarro’s economics class

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Toba Capital Takes Software Maker Stake

Vinny Smith’s To-ba Capital took a stake in another Orange County company.

Company Gets $50M For Home Retrofits

Irvine-based real estate investment firm American Coastal Properties LLC secured $50 million through Colony Capital LLC and the Pritzker/Vlock Family Office

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New Firm for Aviation Capital Cofounder

Stephen Hannahs partnered with a New York investment firm to launch Wings Capital Partners, a boutique investment firm.

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Tustin Truck Accessories Maker Bought

Tustin-based truck accessories maker AMP Research was acquired by Lund International Holding Co.

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Friday, October 11

Midday Stock Roundup

The S&P 500 was down 0.55% to 1,701.88 in afternoon trading Friday.

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Drug Maker with Irvine Operation to Cut 10% of Workforce

Israel-based drug maker Teva Pharmaceutical Industries is eliminating 5,000 jobs, or about 10% of its global work force, in a cost-cutting bid.

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Los Alamitos Space R&D Company Gets $31M Contract

Los Alamitos-based Novawurks Inc. won a contract worth $30.8 million from the U.S. Defense Advanced Research Projects Agency to continue working on a satellite-rebuilding project led by the U.S. military’s chief research arm.

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Seal Beach Club Under New Management

Old Ranch Country Club in Seal Beach is set to see a number of improvements over the next year under a new management company.

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Thursday, October 10

Freedom Buys Riverside Daily; Former Execs File Suit for Severance

Freedom Communications Holdings Inc., parent company of the Orange County Register in Santa Ana, has purchased the Press-Enterprise newspaper for $27.2 million from Dallas-based A. H. Belo Corporation.

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Midday Stock Roundup

The S&P 500 rose 1.64% to 1,683.63 in afternoon trading Thursday.

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Vinny Smith’s VC firm Backs OC Software Company

Vinny Smith’s Toba Capital has taken a stake in another Orange County company.

American Coastal Gets $50M to Redevelop Residential

Irvine-based real estate investment firm American Coastal Properties LLC secured $50 million through Colony Capital LLC and the Pritzker/Vlock Family Office to be used for residential redevelopment projects.

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Wednesday, October 9

Vinny Smith’s VC firm Backs OC Software Company

Vinny Smith’s Toba Capital has taken a stake in another Orange County company.

Midday Stock Roundup

The S&P 500 rose 0.23% to 1,659.26 in afternoon trading Wednesday.

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Taco Bell Top Performer in U.S. for Parent

Irvine-based Taco Bell Corp.’s performance in the quarter ended Sept. 7 was called out as a “bright spot” for its parent in a conference call with analysts Wednesday morning, which also included praise for the fast-food chain’s chief executive.

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OC Hotels End Summer on Strong Note

Hotel market fundamentals continued to climb in August, according to the most recent data available from industry researcher PKF Consulting USA.

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Anna's Linens Gets New DC in Texas

Costa Mesa-based Anna's Linens Inc. recently inked a lease for a regional distribution center for the home goods retailer in Texas.

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Tuesday, October 8

Midday Stock Roundup

The S&P 500 was down about 0.78% to 1,663.03 in afternoon trading Tuesday.

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Billabong Taps 2nd Interim President for Americas Division

Australia-based Billabong International Ltd. has tapped the head of its U.S. retail operations as interim president of its Americas division in Irvine as company executives continue what they’re calling a “strategic review” of operations.

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Kia, Hyundai Marketing Execs Make Global List

Executives at two Orange County-based auto brands are among the most influential chief marketing officers in the world, according to Forbes Magazine’s 2013 CMO Influence Study.

Tustin Truck Parts Maker Sold

Tustin-based truck accessories maker AMP Research has been acquired by Lund International Holding in Buford, Ga., on undisclosed terms.

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Fullerton Marriott Changes Hands

The 224-room Fullerton Marriott was sold as part of a three-hotel portfolio sale that closed Tuesday on undisclosed terms.

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Former Aviation Capital Group CEO Launches Boutique Investment Firm

Stephen Hannahs, the cofounder and former chief executive of Newport Beach-based Aviation Capital Group Corp., has partnered with a New York investment firm to launch Wings Capital Partners, a boutique investment firm.

Freedom Communications to Publish the Orange County Catholic

The Roman Catholic Diocese of Orange selected Churm Custom Publishing to take over publishing of its newspaper, the Orange County Catholic.

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Monday, October 7

Freedom Communications to Publish the Orange County Catholic

The Roman Catholic Diocese of Orange selected Churm Custom Publishing to take over publishing of its newspaper, the Orange County Catholic.

Former Aviation Capital Group CEO Launches Boutique Investment Firm

Stephen Hannahs, the cofounder and former chief executive of Newport Beach-based Aviation Capital Group Corp., has partnered with a New York investment firm to launch Wings Capital Partners, a boutique investment firm.

Tustin Truck Parts Maker Sold

Tustin-based truck accessories maker AMP Research has been acquired by Lund International Holding in Buford, Ga., on undisclosed terms.

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Midday Stock Roundup

The S&P 500 fell 0.46% to 1,682.65 in afternoon trading Monday.

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NB Golf Club Owner Gets Florida Course

Newport Beach-based golf club owner and operator Concert Golf Partners has acquired the Legacy Club at Alaqua Lakes in Orlando, Fla.

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CALENDAR OCBJ

October 7-16, 2013

EVENTS CALENDAR - A listing of business events happening all around Orange County.

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Sunday, October 6

Ingram Micro Buys Data Destruction Firm

Santa Ana-based Ingram Micro Inc. added to its data security services with an acquisition of a company in Georgia.

Autobytel Makes $2.5 Million Acquisition

Autobytel Inc. in Irvine acquired Advanced Mobile LLC

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Alliant Insurance Acquires Texas Company

Newport Beach-based Alliant Insurance Services Inc. acquired EnRisk Services Inc.

Experian Buys Fraud-Detection Company

Global information services firm Experian PLC agreed to pay $324 million to acquire 41st Parameter

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Long, Varied Run Looks About Over for Comarco

TECHNOLOGY: Loss of Lenovo contract raises ‘doubt’

Comarco Inc.’s long reliance on a few big customers could prove to be its ultimate undoing.

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Trademark Firm Buys Aliso Viejo ‘Typosquatter’ Swatter

TECHNOLOGY: CitizenHawk expected to keep operations here

Aliso Viejo-based CitizenHawk Inc. has been acquired by a New York company that specializes in trademark infringement.

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Hospital Systems Link to Compete in Changing Market

HEALTHCARE: Not merging, say UCI Health, MemorialCare

The latest affiliation between a pair of Orange County hospital systems stems directly and indirectly from elements of federal healthcare reform that took effect last week.

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Kia Adds YouTube Awards to Credits

AUTOS: Sole presenting sponsor for global music show

Kia Motors Corp., fresh off MTV’s stage, is now rolling with the YouTube crowd.

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Telogis Inc. Raises $93 Million ‘Bridge’ to IPO

TECHNOLOGY: Funding round led by Kleiner Perkins

Aliso Viejo-based Telogis Inc. raised $93 million in a funding round

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Healthcare Office in Cypress Sells for $69M

REAL ESTATE: Regional HQ, city’s largest employer

An office in Cypress has traded hands as part of a four-building portfolio sale valued at $122.3 million.

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Grant’s Extra Edge; Sage Hill’s Crowd; Razin on Red Sox

OC INSIDER Column by Jerry Sullivan

Late LA Entrepreneur Gives $53M to Hoag

HEALTHCARE: Initial portions for heart and vascular care institute

Hoag Memorial Hospital Presbyterian has received the largest gift in its 61-year history

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CSUF Index: Government Shutdown Trims Year-End Outlook

ECONOMY: Eases off recent hot streak, still ahead of last year’s level

Orange County’s business executives have tempered their outlook for the short term

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Penny Saved?

Buyout Firm Sees Plenty Left in Brea-Based Publisher of Familiar Shoppers

It’s free, chock-full of coupons and worth about 22 million times as much as TV Guide.

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OC Industrial Benchmark Rises With HB Sale

REAL ESTATE: LBA cashes out; beer distributor set for expansion

An affiliate of the biggest beer wholesaler in the nation has bought one of Huntington Beach’s largest buildings

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Insurance Brokers Continue Revenue Gains With 7% Hike

Just Three Had Declines, Jobs Add Up to 2,059

Orange County’s top insurance brokers continued to see stronger business last year. Includes the 2013 OC's TOP INSURANCE BROKERS list for download (pdf)

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Irvine Startup Skips ‘Shark Tank,’ Finds Backer on Ball Court

TECHNOLOGY: Device retrofits vending machines for smartphones

An Irvine startup backed by billionaire investor and Dallas Mavericks owner Mark Cuban is hoping to shake up the vending machine industry

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REAL ESTATE DEALS - October 7, 2013

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

Orange-Caster Investor Group LLC recently sold an apartment building, Villa Del Oro Apartments, to Enlighten Investments LLC for about $5.6 million in Santa Ana.

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Broadcom Corp. Still Has a Big Bite of Apple

Products Figure Largely in Phones, Shares Still Down

The latest inspection under the hood of Apple Inc.’s iPhone 5s and 5c should quell mounting concerns on Wall Street that Broadcom Corp. is losing business from the Cupertino-based consumer electronics maker.

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West OC Industrial Market Continues Gains, With Some Soft Spots

REAL ESTATE WATCH: WEST ORANGE COUNTY

Activity in the West Orange County industrial submarket has been slowly trending upward

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One More in Irvine Co./Burnham USA Building Swap

Newport Beach Office Joins 4 Other Properties

A multibuilding office swap in Newport Beach involving Irvine Company and Burnham USA that I covered this summer includes one more building than first reported.

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Jeweler Seeks Spotlight Through Increased Marketing

Lugano Diamonds Backs Events, Opens Salon

Lugano Diamonds & Jewelry Inc. is buffing up its image.

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Device Maker Tax Repeal Efforts Resurface in D.C.

Some Efforts Tied to Stop Gap Funding, Others Not

The push to repeal a federal tax on medical device makers’ revenue surfaced in the U.S. Senate in the days leading up to the government shutdown.

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Q&A - Insurance Brokers

Executives in the brokerage business tell us about what risks they, as agents working between the insurer and the insured, are facing in today’s economy.

Insurance brokers, who helped clients manage risk during the recession, are now adapting to the different risks in a post-recession economy

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More Companies Beefing Up Benefits to Lure Talent

Post-Recession Market Is Getting More Competitive

Growing competition among employers to attract and retain highly technical and professional talent is driving local executives to improve their employee benefits as they face uncertainties over the potential effects of healthcare reform.

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ADDENDUM October 7, 2013

Other items of interest in the Orange County Business Journal

Irvine-based Kia Motors America Inc. will add its first all-electric car to its U.S. vehicle lineup next year.

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The Ranch Loses Wine Expert, Keeps Abiding Quality

Michael Jordan Jumps to Jackson Family Fine Wines

Michael Jordan has left The Ranch Restaurant & Saloon in Anaheim

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PHILANTHROPY

Philanthropy Column by Kim Haman

Friday, October 4

Midday Stock Roundup

The S&P 500 rose 0.60% to 1,688.81 in afternoon trading Friday.

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Kofax Plans U.S. Offering, Nasdaq Listing

Business software maker Kofax PLC, which is publicly traded in London but maintains its headquarters in Irvine, has filed a registration statement with the Securities & Exchange Commission for a public offering on the Nasdaq exchange.

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Masimo Wins Summary Judgment in Whistleblower Suit

Irvine-based Masimo Corp. today said that a federal court ruled in its favor in a whistleblower lawsuit that three of its former sales representatives filed against it.

NB Healthcare Investor Buys Aesthetic Medicine Startup

Healthcare-focused investment firm Strathspey Crown Holdings LLC has acquired Evolus Inc. in Santa Barbara for an undisclosed amount.

Confie Seguros Expands in NY, Texas

Huntington Beach-based Confie Seguros Insurance Services completed three acquisitions, the latest additions to its rapidly growing portfolio of brokerage firms nationwide.

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Buena Park Machine Shop Sold

Buena Park-based Alloy Die Casting Co. fetched $16.3 million in its sale to McLean, Va.-based investment company Gladstone Investment Corp.

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Thursday, October 3

Masimo Wins Summary Judgment in Whistleblower Suit

Irvine-based Masimo Corp. today said that a federal court ruled in its favor in a whistleblower lawsuit that three of its former sales representatives filed against it.

Midday Stock Roundup

U.S. stocks continued to fall as the partial government shutdown continued for the third day.

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Golden State Foods Buys Kansas Processor

Irvine-based food processor and distributor Golden State Foods Corp. has acquired a controlling stake in KanPak U.S., a desserts and beverages manufacturer in Wichita, Kan.

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Ranch Restaurant Celebrates Expansion Completion

The completed expansion of The Ranch Restaurant & Saloon in Anaheim was celebrated Wednesday evening at a private reception.

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Wednesday, October 2

Midday Stock Roundup

The S&P 500 fell 0.22% to 1,691.21 in afternoon trading Wednesday.

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MemorialCare, UC Irvine Health to Form Alliance

Fountain Valley-based MemorialCare Health System and UC Irvine Health said today that they will form an affiliation in a bid to expand the healthcare services they offer throughout Orange County.

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Aliso Viejo Software Maker Raises $93M

Aliso Viejo-based Telogis Inc. got $93 million in a funding round led by Menlo Park-based investment firm Kleiner Perkins Caufield & Byers.

Experian in $324M Acquisition

Global information services firm Experian PLC has agreed to pay $324 million to acquire 41st Parameter, a fraud-detection technology company in San Jose.

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Auto Sales Fall in September

Automakers based in Orange County joined a general industry trend that saw sales in September drop compared with a year earlier, partly on a shift in Labor Day sales, some of which were accounted for in August.

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Alliant Acquires Energy Sector Specialist

Newport Beach-based Alliant Insurance Services Inc. has acquired EnRisk Services Inc., a Fort Worth-based insurance and risk management firm specializing in the energy industry.

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Electric Kia Soul Set for 2014

Irvine-based Kia Motors America Inc. will add its first all-electric car to its U.S. vehicle lineup next year.

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Tuesday, October 1

Electric Kia Soul Set for 2014

Irvine-based Kia Motors America Inc. will add its first all-electric car to its U.S. vehicle lineup next year.

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Experian in $324M Acquisition

Global information services firm Experian PLC has agreed to pay $324 million to acquire 41st Parameter, a fraud-detection technology company in San Jose.

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Auto Sales Fall in September

Automakers based in Orange County joined a general industry trend that saw sales in September drop compared with a year earlier, partly on a shift in Labor Day sales, some of which were accounted for in August.

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Bruxie Gets Private Equity Backer

An East Coast private equity firm that has backed P.F. Chang's, Baja Fresh and other restaurant chains in the past made an undisclosed investment in Orange-based Bruxie.

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Midday Stock Roundup

The S&P 500 was up 0.81% to 1,695.13 in afternoon trading Tuesday.

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Ingram Micro Buys Data Security Specialist

Santa Ana-based Ingram Micro Inc. has added to its data security services with an acquisition of a Georgia company.

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Autobytel Does Another Deal

Autobytel Inc. in Irvine acquired Advanced Mobile, LLC, a King of Prussia, Penn.-based provider of mobile communications services.

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Kia Sponsors YouTube Music Awards

Kia Motors Corp. will be the presenting sponsor of the first-ever YouTube Music Awards, which are slated for the video-sharing website on Nov. 3.

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