Stories for August 2014

Friday, August 29

PacSun’s Shares Down on Q2 earnings, Q3 Forecast

Shares of Pacific Sunwear of California Inc. were down 8.7% in midday trading Friday after the retailer said it anticipates a third-quarter loss between 4 cents and 9 cents a share, and revenue between $203 million and $208 million.

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Midday Stock Roundup

The S&P 500 rose 0.23% to 2,001.22 in midday trading Friday.

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AllDigital Holdings CEO Dies Suddenly

Paul Summers, the chairman and chief executive of Irvine-based AllDigital Holdings Inc., has died unexpectedly.

Thursday, August 28

PacSun’s Shares Down on Q2 earnings, Q3 Forecast

Shares of Pacific Sunwear of California Inc. were down 4.3% in after-hours trading Thursday after the retailer said it anticipates a third-quarter loss between 4 cents and 9 cents a share, and revenue between $203 million and $208 million.

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Chapman MBA Students in Tech Marketing Plan

Students in Chapman’s MBA program are developing ideas for marketing and using “Internet of Things” products made by Austin, Texas-based HID Global.

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Midday Stock Roundup

The S&P 500 fell 0.13% to 1,997.55 in midday trading Thursday.

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Corinthian Says Back Rent Paid Up

Santa Ana-based Corinthian Colleges said it has caught up on rent payments for its headquarters at the Hutton Centre near the Costa Mesa (55) Freeway in Santa Ana.

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Tilly’s Shares Fall on Q3 Projections

Shares of Tilly’s Inc. were down about 6% at midday on weak third quarter projections.

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Wednesday, August 27

Tilly’s Shares Fall on Q2 Numbers

Shares of Tilly’s Inc. fell 9% to about $7.70 and a market cap of about $212 million in after-hours trading Wednesday after the retailer posted a 70% drop in earnings for the second quarter that ended Aug. 2.

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Trial Date on Special Allergan Meeting Set

A Delaware Chancery Court judge today set a Oct. 6 date for a trial over the timing of a special meeting of Irvine-based Allergan Inc. shareholders.

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Kia Plans Assembly Plant in Mexico

South Korea-based Kia Motors Corp. plans to construct a $1.5 billion assembly plant in Mexico, a senior automotive industry source in Mexico City told Automotive News.

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Aliso Viejo-Based Device Maker Sold

Aliso Viejo-based WaveTec Vision Systems Inc. will be bought by Alcon Inc., according to a statement issued today.

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UCI Computer Science Prof to FCC

University of California Irvine computer science professor Scott Jordan has been named the chief technology officer of the Federal Communications Commission.

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Midday Stock Roundup

The three major stock indices were flat in midday trading Wednesday.

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NB Management Consultant Acquired

Beacon Resources LLC in Newport Beach has been acquired by Woodland Hills-based professional services firm DLC.

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OC Auto Sales Up 7.7% in July

Sales of new vehicles at Orange County auto dealers rose 7.7% to 14,011 vehicles in July compared with the same period last year, according to the Newport Beach-based Orange County Automobile Dealers Association.

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Tuesday, August 26

OC Auto Sales Up 7.7% in July

Sales of new vehicles at Orange County auto dealers rose 7.7% to 14,011 vehicles in July compared with the same period last year, according to the Newport Beach-based Orange County Automobile Dealers Association.

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Wisconsin Firm Hiring 700 in Brea

Alta Resources, a Neenah, Wis.-based business process outsourcing company, is planning to hire some 700 workers for its Brea facility.

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$1 Million Grand Prize in Wienerschnitzel Sweepstakes

Wienerschnitzel is offering $1 million as the grand prize in its latest “Cash in on a Corn Dog” sweepstakes.

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July Traffic Ekes Up at JWA; Int’l Down

John Wayne Airport said passenger traffic rose slightly in July 2014 compared to the same period last year.

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Allergan Sets Special Shareholder Meeting

Irvine-based Allergan Inc. will host a special shareholders’ meeting on Dec. 18, according to a court filing today.

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Midday Stock Roundup

The S&P 500 rose 0.21% to 2,002.10 in midday trading Tuesday.

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Corinthian to Sell Assets; Second Deal Blocked

Santa Ana-based Corinthian Colleges Inc. said it would sell some assets to raise money to fund the winding down of its operations but that federal regulators had blocked a second deal.

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Santa Ana Ed Marketer Gets $8M

Santa Ana-based Greenwood Hall Inc. said it received $8 million in debt and equity financing to “recapitalize” the company.

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Monday, August 25

Western Digital Taps New CFO

Irvine-based memory products maker Western Digital Corp. has named Amgen Inc. executive Olivier Leonetti its next chief financial officer.

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Patent Office Weighs in for Netlist

Shares of Netlist Inc. jumped Monday after the Irvine-based computer memory products maker announced it had prevailed in a long-running patent feud with a competitor in Santa Clara.

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Irvine Company Announces Week of Fashion Events

The Irvine Company’s retail properties, Fashion Island, Irvine Spectrum Center and the Market Place, plan to launch Style Week Orange County on Sept. 10, packed with “fashion shows, shopping parties and trend presentations to celebrate the best in O.C. style.”

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Midday Stock Roundup

The S&P 500 was up 0.43% to 1,996.90 at last check on midday trading Monday, a slight fallback after it briefly surpassed 2,000 for the first time.

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Allergan Confirms Shareholder Meeting Request

Irvine-based Allergan Inc. has confirmed it received written requests from shareholders to call a special meeting requested by activist investor Bill Ackman’s Pershing Square Capital Management LP.

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Billabong Sells Swell.com

Australia-based Billabong International Ltd. said it plans to sell its surf apparel retailer Swell.com in Irvine to a consortium of investors in a spinoff that also includes a 51% sale of SurfStitch, its other e-commerce business.

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Multimillion-Dollar Mobile Homes New Beachfront Niche

Most Potential Buyers Live Within 75 Miles of Coast

The waterfront home on North El Camino Real in San Clemente boasts all the accoutrements buyers expect from a house with a million-dollar-plus price tag: It has direct access to the beach, hardwood floors, exquisite tile work in the kitchen, high-end stainless appliances, a luxurious spa-like master bath, and floor-to-ceiling windows in the living room that frame the blue of the ocean just steps from the brand-new brick deck.

Tustin Building Gets Pharma Tenant, Creative-Office Plans

CapRock Buys Property From Western Realco

A portion of an industrial building in Tustin just off Jamboree Road near the Santa Ana (I-5) Freeway is being eyed for a creative-office development following its sale to a local investor.

New Social Networking Site Aims to Pay It Forward

Allocates $1M to Award Money, Resources to Users

A software entrepreneur in Irvine has launched a social networking site to make users’ dreams become reality through crowdsourcing.

Wet Seal Sings ‘Fifth Harmony’ in New Campaign

Features Fashions Inspired By Girl Pop Music Group

Look for harmony in Wet Seal Inc.’s upcoming marketing campaign—Fifth Harmony, that is.

Analyst Sees ‘Smooth Transition’ for New Allergan CFO

Personal Decision Prompts Move, New CFO Praised

Irvine drug maker Allergan Inc. has a new chief financial officer as it works to fight off hostile suitor Valeant Pharmaceuticals International Inc.

Restaurant Chain Receives Funding

Irvine-based restaurant chain and franchisor LYFE Kitchen received a minority investment from Carlisle Corp. and will move to that company’s Memphis, Tenn., headquarters, according to news reports.

Local Companies Honored as ‘Most Trusted’

Several local companies and an executive were honored for being the “best connected to their treasured customer base” at the OC Trust Summit at California State University-Fullerton.

Pennsylvania Firm to Buy Skilled Healthcare

Foothill Ranch-based Skilled Healthcare Group Inc. said it’s being bought in an all-stock deal by Kennett Square, Pa.-based Genesis HealthCare.

Trace3 Names New Chief Executive

Irvine-based IT consultancy and service provider Trace3 promoted Tyler Beecher to chief executive.

Telecoms Drop Employment After 2 Years of Gains

630 Jobs Lost As Verizon, Time Warner Cut Costs

Two cost-cutting moves fueled a significant drop in local employment among Orange County’s largest telecommunications companies in the past year.

OC Cities Post Population Growth, Irvine Up Nearly 5%

Combine for 1% Increase To About 3 Million Residents

Orange County cities continued growing last year, combining for a net 1% increase in population to about 3 million.

Security Firm Grows in Anaheim, SD

Anaheim-based Firstline Security Inc. has expanded its facilities in Orange County and San Diego in line with its fast-growing business.

Entertainment Company Anticipates Reaction to Film

MEDIA: Main Street Films hopeful about latest flick

Main Street Films Inc. had a big weekend.

Gallegos Crosses Over for Milk Board’s Campaign

MARKETING: Works on par with Goodby on $20M effort

Grupo Gallegos has crossed over the demographic divide to work hand in hand with one of the best-known agencies in advertising on the California Milk Processor Board’s new $20 million ad campaign.

Ups & Downs for Allergan; Devil of a Case; Augie on Ice

Last week had some wags wondering if Allergan CEO David Pyott might be forced into an error by spending too much on an acquisition in hopes of putting the Irvine-based drug maker out of reach of hostile pursuers Valeant Pharmaceuticals and New York hedge funder Bill Ackman.

Industrial Market Posts Healthy Q2

The activity levels for the Orange County industrial market remained healthy in the second quarter, with approximately 2.2 million square feet of gross activity.

Office Market Continues on the Upturn

The Orange County office market continued its healthy performance in the second quarter, indicating market stabilization and a positive trajectory, with possibly the most significant trend being the current progression of average asking lease rates.

Retail Market Continues Slow Recovery

Retail sales continued to gradually improve in the second quarter, aiding the U.S. economy as local retail markets kept moving toward a full post-recession recovery.

Last Holdout in Recovery: 100,000-SF-Plus Deals

Few Leases for Big Chunks of Contiguous Space This Year

The Orange County Social Services Agency practically has the market to itself as it explores a headquarters move from 888 N. Main St. in Santa Ana.

Blizzard Plays Cards Right With Hearthstone

TECHNOLOGY: Free game on pace to bring in $100M in 1st year

Blizzard Entertainment Inc.’s first foray into free-to-play video games is turning into a big moneymaker.

Lyon Communities Reaches Peak in Silicon Valley

REAL ESTATE: Tops price for big OC complexes by $100,000 per unit

A bet on Silicon Valley’s apartment market has paid off handsomely for Newport Beach-based Lyon Communities.

Downtown Santa Ana’s Next Act

Food Hall Latest Twist for East End

The developer who’s driving downtown Santa Ana’s makeover is doubling down on dining.

Aggregate Anchors

Centers Turn to Clusters of Restaurants as Drawing Cards

Developers and owners of Orange County’s retail centers are increasingly going small and thinking with their stomachs to attract customers.

Real Estate Deals

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

OCBJ Calendar

Aug. 25-Sept. 3, 2014

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 34

Wet Seal Inc. has until Feb. 17 to get its shares above $1 for 10 consecutive days or face delisting by Nasdaq, the exchange warned in a letter to the Foothill Ranch-based retailer.

Fastest-Growing Private Cos. Wanted for List

ECONOMY: Centerpiece of Sept. 22 Special Report

We know you’re out there. The Business Journal is producing its annual list of fastest-growing privately held companies, set to appear as the centerpiece of a Special Report in its Sept. 22 issue.

Friday, August 22

Billabong Sells Swell.com

Australia-based Billabong International Ltd. said it plans to sell its surf apparel retailer Swell.com in Irvine to a consortium of investors in a spinoff that also includes a 51% sale of SurfStitch, its other e-commerce business.

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Midday Stock Roundup

The S&P 500 was flat at 1,992.07 in midday trading Friday.

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CNBC: Threshold Met for Special Meeting on Allergan

Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management LP will submit a request today to Irvine-based Allergan Inc. calling for a special meeting of shareholders, according to reports.

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El Pollo Loco Signs for 20 Units in Texas

Costa Mesa-based grilled chicken chain El Pollo Loco Inc. has signed a multibrand operator to develop 20 franchised locations in Houston and San Antonio.

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Thursday, August 21

CSUF Study: OC Exports to Grow Modestly, $28B by 2015

Orange County exports are expected to grow by nearly 6% this year to reach about $26.2 billion, according to a study by California State University Fullerton’s Center for Economic Analysis and Forecasting.

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Wet Seal Warned on Delisting

Wet Seal Inc. has until Feb. 17 to bring its stock at $1 per share or more for 10 consecutive days or face delisting by Nasdaq, the exchange warned in a letter to the Foothill Ranch-based retailer earlier this week.

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Midday Stock Roundup

The S&P 500 rose 0.35% to 1,993.47 in midday trading Thursday.

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Wednesday, August 20

New CEO for Trace3

Irvine-based IT consultancy and service provider Trace3 has promoted Tyler Beecher to chief executive.

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UCI Chem Prof in Cancer Business Venture

A University of California-Irvine chemistry professor is an equity partner in Novonco Therapeutics Inc., a new company in Los Angeles founded to treat cancer patients.

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Midday Stock Roundup

The S&P 500 was up 0.2% to 1,985.40 in midday trading Wednesday.

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Tuesday, August 19

CSUF Trust Summit Names Honorees

Several local companies were honored for being the “best connected to their treasured customer base,” during the OC Trust Summit Thursday at California State University-Fullerton.

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Skilled Healthcare Being Bought By Genesis

Foothill Ranch-based Skilled Healthcare Group Inc. said today that it is being bought in an all-stock deal by Kennett Square, Pa.-based Genesis HealthCare. A purchase price was not disclosed.

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Midday Stock Roundup

The S&P 500 rose 0.45% to 1,980.52 in midday trading Tuesday.

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808 Begins Trading Wednesday

Garden Grove-based power plant owner and operator 808 Renewable Energy Corp. will begin trading Wednesday on the Over-The-Counter Bulletin Board.

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Monday, August 18

Skilled Healthcare Being Bought By Genesis

Foothill Ranch-based Skilled Healthcare Group Inc. said today that it is being bought in an all-stock deal by Kennett Square, Pa.-based Genesis HealthCare. A purchase price was not disclosed.

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Allergan Names Hindman CFO

Irvine-based Allergan Inc. said today that it named Jim Hindman its new chief financial officer.

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Brandman Gets Ahmanson Foundation Grant

Irvine-based Brandman University received $99,600 from the Ahmanson Foundation in Los Angeles to fund technology purchases to help disabled students.

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LYFE Kitchen Investor Moving Company to Memphis

Irvine-based restaurant chain and franchisor LYFE Kitchen received a minority investment from Carlisle Corp. and will move to that company’s Memphis, Tenn. headquarters, according to reports.

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Midday Stock Roundup

The S&P 500 rose 0.81% to 1,970.91 in midday trading Monday.

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Tasty Brews to Satisfy New Appetites

MANUFACTURING: Rising craft-beer sector part of US trend

Craft beer is briskly bubbling toward the surface of Orange County’s economy as a small but growing sector catering to increasing tastes for locally made food and beverages.

Insurance Firm Grows With Healthcare Partnerships

Takes On UnitedHealthcare Plans, Networks for Growth

A business unit of Orange-based Word & Brown Cos. has teamed up with a health insurance behemoth as a way to fuel growth.

OCBJ Calendar

Aug. 18-27, 2014

This week's business and other event listings.

PHILANTHROPY

The Pimco Foundation, Pacific Investment Management Co.’s charitable arm, held its sixth annual Global Week of Volunteering from July 20 to 25.

Summer Travel Extended In PacSun-Volcom Campaign

Seeks Photos Illustrating What Fans Are ‘True To’

The summer is all but gone, but two Orange County-based brands are offering a chance to keep it alive in a social media contest.

Tourism Promoter Teams With 2 Cities

The Anaheim/Orange County Visitor & Convention Bureau said it would integrate sales efforts with two other cities to target meeting professionals for multiyear bookings.

Healthcare REIT Sale Winner for Griffin-American

Former Grubb Offering To Be Sold for $4 Billion

Griffin-American Healthcare REIT II in Irvine, an owner of healthcare-related real estate properties that has ties to Grubb & Ellis Co., appears to be one of the few winners emerging from the brokerage company’s short-lived stint as an Orange County-based company.

High-Rise Office Market Has Busier Second Quarter

The high-rise office market in Orange County ended the second quarter with increased demand, resulting in 510,455 square feet of positive net absorption, nearly all of which took place in the Greater Airport Area submarket—508,945 square feet.

real estate deals

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

MCC Realty Investments sold a retail building to TradeCor Partners LLC in Aliso Viejo for $8.1 million.

Laser Maker Puts Financial Woes Behind In Strong Q2

Microelectronics Part Of Gains Across All Lines

Newport Corp. is on pace for a record year as the Irvine-based laser maker puts last year’s troubles in the rearview mirror.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 33

Wet Seal Inc. celebrated the opening of 31 Wet Seal Plus stores across the country, including one Orange County location at The Shops at Mission Viejo.

Hospitals Closely Watch State Reimbursement Case

Appellate Decision Could Bring Wide Implications

Hospitals in Orange County and other areas are keeping their eyes on a long-running reimbursement case that could reach the California Supreme Court.

Golden State Buys Again in New Zealand

Irvine-based food manufacturer and distributor Golden State Foods Corp. acquired a vegetable supplier in New Zealand on undisclosed terms.

Phone Case Maker Nets Kate Spade Deal

Incipio Technologies Inc. signed a licensing agreement with fashion designer Kate Spade & Co. in New York.

Firms Acquire Stake in Movie Company

Two Orange County-based investment firms have partnered to acquire a majority stake in Mob Scene LLC, an entertainment marketing and production company in Beverly Hills.

Software Maker to Apparel Companies Branches Out

TECHNOLOGY: For growth, adds ‘lite’ product for startups

Innovative Systems LLC grew up with local brands such as Volcom Inc. and Hurley, licensing software to help manage inventory, accounting, warehousing, merchandising and other aspects of the companies’ apparel business.

Irvine Firm Builds on YouTube Business With New Unit

FINANCE: Semaphore rollout helps ‘Tubers’ brand and more

Irvine-based financial services firm Semaphore is betting on the growing field of YouTube entertainment and its increasing capacity to attract brands to advertise to the younger crowd.

Ice Cream Shops Plan to Franchise

RESTAURANTS: Farrell’s, Creamistry proceed separately

Farrell’s Ice Cream Parlour Restaurants’ parent, Lake Forest-based Parlour Enterprises Inc., and Irvine-based Creamistry separately said they will begin franchising.

OC Notches Another Billion-Dollar Company

TECHNOLOGY: ViewSonic moves 90 workers from LA

Orange County has reeled in a big fish in the technology industry with the addition of ViewSonic Corp. to its strong corporate base.

Irvine Co. Land Gift Comes With Homebuilding Plans

REAL ESTATE: Still plans up to 1K homes in East Orange

The Irvine Company hasn’t abandoned its homebuilding plans on the northern edge of the Irvine Ranch, despite its intentions to donate a large chunk of land there to the county.

Irvine Looks Both Ways on Great Park; Vexed About Vector

There’s plenty to look back upon at Great Park, as recent depositions in the City of Irvine’s forensic audit of operations reveal.

Health System Increases Oversight Due to Reform

Audit Unit; Punishment For Noncompliant at CalOptima

Orange-based CalOptima is intensifying its work with providers to tackle a tighter government regulatory landscape.

Dental HMO, PPO Memberships Drop 1% to 2M-Plus

Delta Dental Plans Still At Top of List of 13 Plans

Managed dental care plans saw a slight drop in their Orange County membership during the past year.

HMOs’ Membership Up, PPOs’ Numbers Down 3%

Kaiser Leads HMOs List, Anthem OC’s Biggest PPO

Health maintenance organizations had a year of growth in Orange County.

Q&A

“Affiliation” continues to be more than a buzzword in Orange County’s hospital world. The latest affiliation happened this month when St. Joseph Hoag Health and Children’s Hospital of Orange County said they were creating an accountable care organization. CHOC and St. Joseph Hoag Health are going to share in the financial and medical responsibilities of managing and providing care to patients. The institutions said the affiliation’s goals include improving quality, enhancing patients’ experience, and creating “efficiencies through collectively attending to patients’ needs and avoiding unnecessary treatments.”

Social Services Lease Would Top Year’s List

REAL ESTATE: OC’s biggest public agency in talks to move to Orange

The Orange County Social Services Agency is expected to move its headquarters from Santa Ana to Orange in what would be OC’s largest new office lease of the year.

Hostile Bid for Allergan Hits Additional Hurdles

HEALTHCARE: 2nd FTC request for info could greatly slow, even kill deal

The hostile takeover attempt for Irvine-based Allergan Inc. by Valeant Pharmaceuticals International Inc. is moving into deeper regulatory waters, something likely to add additional months to the battle and that could even scuttle it.

Surfwear Brand Makes Fresh Wave in Industry

APPAREL: Sector vet’s startup ‘deep set’ on making its name

Depactus debuted last month at the Agenda trade show in Long Beach, and it appears the San Clemente-based brand focused on young male adventurers has carved a spot for itself in the local surf apparel industry.

Green Grows OC Pot Sector

Businesses Sprout to Support Burgeoning Industry

The Green Rush has hit Orange County. Several local companies, from packaging makers to grow-kit specialists, are aiming to cash in on the recreational and medicinal marijuana market that’s booming across the country despite a hazy regulatory environment.

Friday, August 15

Masimo Receives FDA Warning Letter

Irvine-based Masimo Corp. has received a warning letter from the Food and Drug Administration on its manufacturing practices, the company said today in a regulatory filing.

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Midday Stock Roundup

The S&P 500 fell 0.27% to 1,949.85 in midday trading Friday.

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OC Loses Jobs, Unemployment Rate Ticks Up

Orange County lost 13,900 jobs in July, breaking a five-month streak of job gains.

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Thursday, August 14

Irvine Watchmaker Partners With Guess

Martian Watches, an Irvine-based maker of “smart” watches, has partnered with Guess? Inc. in Los Angeles to develop “interactive, voice-command wrist accessories.”

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Irvine chipmaker raises $19.7M

Irvine-based networking chipmaker ClariPhy Communications Inc. has raised $19.7 million in venture funding, according to San Francisco-based market tracker CrunchBase.

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SEC Looking Into Valeant, Pershing Square

The Securities and Exchange Commission is probing Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management LP to determine if there has been a breach of insider trading laws in their hostile bid for Irvine-based Allergan Inc., according to reports.

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Incipio Inks Deal with Kate Spade

Incipio Technologies Inc. said it has signed a licensing agreement with fashion designer Kate Spade & Co. in New York.

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Midday Stock Roundup

The S&P 500 rose 0.31% to 1,952.69 in midday trading Thursday.

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Wednesday, August 13

Creamistry Ice Cream Shops to Franchise

Irvine-based ice cream shop Creamistry plans to franchise and expand its present single site at the Crossroads shopping center on Barranca Parkway.

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New Website for Laguna Beach Hospitality Group

Visit Laguna Beach has a new website.

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Saddleback Medical Center Conversion Studied

Saddleback Medical Center Conversion Studied

Fountain Valley-based MemorialCare Health System said today that it would do a feasibility study with an eye toward converting the San Clemente campus of its Saddleback Memorial Medical Center to an ambulatory healthcare campus.

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Midday Stock Roundup

The S&P 500 rose 0.67% to 1,946.74 in midday trading Wednesday.

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Tuesday, August 12

Golden State Foods Buys Salad Supplier in NZ

Irvine-based food manufacturer and distributor Golden State Foods Corp. has acquired a vegetable supplier in New Zealand.

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Anaheim, Newport Beach on Hospitality Venue List

Anaheim and Newport Beach were among the most-sought U.S. cities for events in the past year, according to a list released by a McLean, Va.-based online database of meetings venues.

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Irvine Burger Chain Reportedly Mulls IPO

The parent company of Irvine-based fast casual hamburger chain Habit Burger Grill is eyeing an initial public offering, according to reports.

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Midday Stock Roundup

The S&P 500 fell 0.24% to 1,932.22 in midday trading Tuesday.

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OC Investors Partner in Beverly Hills Buy

Two Orange County-based investment firms have partnered to acquire a majority stake in Mob Scene LLC, an entertainment marketing and production company in Beverly Hills.

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Wet Seal Opens ‘Plus’ Stores

Wet Seal Inc. said it will celebrate the opening of 31 Wet Seal Plus stores across the country on Aug. 16, including one Orange County location at The Shops at Mission Viejo.

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Monday, August 11

Real Mex Names Yum Vet CFO

Cypress-based Real Mex Restaurants Inc. said on Monday it named Laurie Lawhorne its new chief financial officer.

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Anaheim Hospitality Group Partners with Baltimore, San Antonio

The Anaheim/Orange County Visitor & Convention Bureau said it would integrate sales efforts with two other cities to target meeting professionals for multi-year bookings.

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OC-Based Korean Restaurant to Irvine Spectrum

Irvine-based Urban Seoul will open this month at the Irvine Spectrum.

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Midday Stock Roundup

The S&P 500 rose 0.53% to 1,941.82 in midday trading Monday.

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Four OC Restaurants in Expo Charity Event

Four Orange County-based restaurant companies will compete in a fundraising food event at the upcoming Western Foodservice & Hospitality Expo at the Anaheim Convention Center.

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Louis Vuitton at Fashion Island? Alice’s Dance

Is that a Louis Vuitton store taking shape next to Neiman Marcus at Fashion Island?

Q & A

The 12 largest hotels near the Anaheim Convention Center offer 588,000 square feet of convention space and about 8,200 rooms that can accommodate the big gatherings that converge on the area every year. But space can also be small when necessary. Many hotels and resorts offer space for small groups, whether the traveler or business groups needing a working “staycation” or some privacy. Those clients have specific needs and are willing to spend money for them. The meeting spaces can be as different as the clientele, with everything from the county’s largest hotel to a boutique beachfront experience, with prominent and premium resorts in the mix. Business groups also sometime include guests who have different needs but want the same attention to detail corporate clients require. The Business Journal’s Paul Hughes asked executives at local venues how they serve high-end meetings and conventions guests. Here are edited excerpts of their responses:

Next Big Thing in IBC: Self-Storage

3-Story Facility Planned Amid Apartment Complexes

A massive self-storage facility is being proposed for land near the Diamond Jamboree shopping center in Irvine in what would be among the largest nonapartment developments in the Irvine Business Complex over the past decade.

Sources Say Harrah Bids $27 Million for Register Building

REAL ESTATE: Lease-back an option for newspaper’s operations

Santa Ana developer Mike Harrah is closing in on a deal to buy the headquarters of the Orange County Register, according to sources.

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Wahoo’s Grows Up

Chain Gets Past Downturn, Puts Corporate Vet in Kitchen

Wahoo’s Fish Taco wants to keep it casual for customers even as it tightens up the way the 61-restaurant chain goes about its business.

Newport Corp. Sees Potential Amid Tumult in Israel

TECHNOLOGY: Bought fiber laser maker as conflict flared

The recent growth of Newport Corp.’s operations in Israel underscores the tenuous balance of investing in a global technology hub that’s under constant threat of warfare.

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Does Dual Dip Point to Diminished Prospects for Allergan Deal?

HEALTHCARE: Valeant bid valued just above target’s market value

Investor sentiment appears to be quietly moving away from the increasingly noisy takeover attempt of Irvine-based Allergan Inc.

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Familiar Ties: Mexico-OC Business Remains Strong

Despite Blips, OC Trading Partner Still Number One

Mexico City-based discount airline InterJet ceased flights out of John Wayne Airport on July 19.

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Visitor Groups Rebrand for Business, Leisure, More

Changes Mirror National Trends, Cast Wider Net

What’s in a name? A lot more than before for Orange County business and tourist groups.

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OC’s Wealthiest

Orange County’s wealthiest person has been putting a fair amount of his fortune back into his business over the past year—but we’re figuring that he’s still likely to have seen a boost to his bottom line of about $1 billion.

Sales Hot for Most Expensive Orchard Hills Homes

23 Have Sold for $50M+ In Just Two Months

Orchard Hills’ priciest homes have had strong sales since the Irvine development opened a little more than two months ago.

Inland Empire Industrial, Office Markets Gain Momentum

The Inland Empire industrial market picked up the pace in the second quarter after a relatively slow start to the year, generating nearly 9.7 million square feet of gross activity.

Smith Micro, Sprint Team to Boost Digital Art Training

Teachers Get Free Licenses for Students’ Designs

Sprint Corp. and Smith Micro Software Inc. have joined forces to groom the next generation of digital artists.

Asics Project ‘First In-Event, Real-Time’ TV Ad

Commercial Featured Live Shots of Olympic Swimmer

The newest marketing play by Asics America Corp. has blurred the line between advertising and live television programming.

Allergan Keeps Analysts Busy On Possible Scenarios

Company Would Buy With Cash; Docs Eschew Valeant

Irvine-based Allergan Inc.’s ongoing attempt to beat back Valeant Pharmaceuticals International Inc.’s hostile takeover bid has provided plenty of grist for the analyst mill in recent weeks.

Luxury Market Embraces Multigenerational Homes

International Buyers Seek Private-Communal Combo

Overseas buyers are driving the latest luxury homebuilding trend: multigenerational living.

Arts Center Names Mazzo to Board

The Segerstrom Center for the Arts in Costa Mesa said James Mazzo is a new member of its board of directors.

NB Cosmetics Maker Plans First Store

Urban Decay Cosmetics LLC plans to open its first stand-alone store this fall at Fashion Island.

Software Maker Bought By Texas Firm

A company in Austin, Texas, acquired San Clemente-based Benesan Corp., which makes specialized software for in-home, nonmedical patient care.

Confie Makes Trio of Brokerage Buys

Huntington Beach-based Confie Seguros Insurance Services Inc. acquired three brokerages to add to its growing list of offices nationwide. Terms were undisclosed for all three transactions.

Pignatelli Resigns From Biolase Board

Federico Pignatelli, a director of Irvine-based Biolase Inc., resigned from the company’s board and withdrew his nomination for election at its upcoming annual meeting.

Public Relations Firms Combine for 7.5% Jobs Increase

MEDIA: New clients, more social media work drive gain

The biggest public relations firms based in Orange County combined to employ 416 staffers as of July, a 7.5% year-over-year increase.

Laguna Cliffs Inn Goes Local With Renovation Plan

HOSPITALITY: Name change could accompany retro makeover

The new owner of the Laguna Cliffs Inn plans to emphasize what it calls the unique qualities of its location with a $1 million renovation of the 36-room boutique hotel.

OC Training Ground for Safety Gear Maker

MANUFACTURING: Third in U.S., first on West Coast

Capital Safety, a manufacturer of height-safety equipment, is counting on its new training center in Tustin to better respond to growing demand from industry professionals in California and on the West Coast.

Niagara Distributing Sells Delivery Routes to Nestlé

SERVICES: Peykoff family retains bottling operation in IE

Niagara Distributing LLC in Irvine has sold its home and office delivery routes to Glendale-based competitor Nestlé USA.

real estate deals

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

Meredith Enterprises sold the Garden Grove Festival Square in Garden Grove for $11.9 million to TN Investments Properties LLC.

OCBJ Calendar

Aug. 11-20 2014

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 32

Evolv Sports & Designs LLC said Bruckmann, Rosser, Sherrill & Co. in New York acquired a majority stake in the Buena Park-based manufacturer of climbing footwear.

Fastest-Growing Private Cos. Wanted for List

ECONOMY: Centerpiece of Sept. 22 Special Report

We know you’re out there.

EVENTS Calendar

The following is a list of conventions, trade shows, consumer shows and events scheduled from Aug. 11 through July 31, 2015.

Friday, August 8

Masimo Slides on Earnings Miss

Shares of Irvine-based Masimo Corp. fell sharply today, one day after its second-quarter results missed analysts’ forecasts.

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Midday Stock Roundup

The S&P 500 rose 0.4% to 1,916.80 in midday trading Friday.

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Hyundai to Pay Penalty for Failing to Report Defect

Hyundai Motor America said it will pay a $17.4 million civil penalty and comply with the National Highway Traffic Safety Administration’s oversight requirements for failing to report in a timely manner a braking system defect that affected Hyundai Genesis vehicle model years 2009 to 2012.

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Thursday, August 7

Calendar

n Leads Groups (Irvine Chamber of Commerce) Irvine every second and fourth Monday 12 noon Free or $20 (949) 660-9112 www.irvinechamber.com

Buena Park Footwear Brand Sells Majority Stake

Evolv Sports & Designs LLC said Bruckmann, Rosser, Sherrill & Co. in New York acquired a majority stake in the Buena Park-based manufacturer of climbing footwear.

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Emulex Shares Rise on Quarterly Report, Outlook

Shares of Emulex Corp. rose in after-hours trading after the Costa Mesa-based networking equipment maker reported June quarter revenue and adjusted profits that beat Wall Street expectations and provided financial targets in the current quarter that were above estimates.

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Masimo Q2 Misses Forecasts

Irvine-based medical device maker Masimo Corp. today posted second-quarter results that missed Wall Street expectations.

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Vizio Recalls TVs After Tip-Over Warning

Irvine-based Vizio Inc. is recalling about 245,000 flat-screen TVs from its popular E-Series line introduced late last year.

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Midday Stock Roundup

The S&P 500 fell 0.31% to 1,914.35 in midday trading Thursday.

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Con Ed Adds $22.3M to Contract With Anaheim Firm

Anaheim-based engineering firm Willdan Group Inc. has won a $22.3 million contract extension from Consolidated Edison Inc. in New York, taking the total value of the deal to $61.3 million for a job that’s been ongoing since late 2012.

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Wednesday, August 6

Advisory Firms Call for Allergan Special Meeting

Two proxy advisory firms now are backing activist investor Bill Ackman in his efforts to call a special meeting of Irvine-based Allergan Inc. shareholders as part of a hostile takeover bid from Valeant Pharmaceuticals International Inc.

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Midday Stock Roundup

The S&P 500 rose 0.24% to 1,924.86 in midday trading Wednesday.

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Laguna Hills Tech Company Gets $4M

OpenSignal, a technology startup in Laguna Hills, got $4 million in a recent funding round led by Qualcomm Ventures, the investment arm of San Diego-based chipmaker Qualcomm Inc.

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Pignatelli Resigns From Biolase’s Board

Federico Pignatelli, a director of Irvine-based Biolase Inc., said today he was resigning from the company’s board and withdrawing his nomination for election at its upcoming annual meeting.

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Confie Buys 3 Insurance Brokerages

Huntington Beach-based Confie Seguros Insurance Services Inc. has acquired three brokerages to add to its growing list of offices nationwide.

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Urban Decay Store Set for Fashion Island

Urban Decay Cosmetics LLC said it plans to open its first stand-alone store at Fashion Island this fall.

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Tuesday, August 5

San Clemente Software Company Acquired

An Austin, Texas company has acquired San Clemente-based Benesan Corp., which makes specialized software for in-home, nonmedical patient care.

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Midday Stock Roundup

The S&P 500 fell 1% to 1,918.42 in midday trading Tuesday.

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Ensign Group Buys Angeles Home Health Care

The Ensign Group Inc. in Mission Viejo has purchased Angeles Home Health Care of Los Angeles for an undisclosed amount.

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Tustin Engineering Firm Acquired

Tustin-based engineering firm Hall & Foreman Inc. has been acquired by David Evans and Associates Inc. in Portland.

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Ice Cream Operator Farrell’s Will Franchise

The Farrell's Ice Cream Parlour Restaurants parent company Lake Forest-based Parlour Enterprises Inc. said it will begin franchising.

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Monday, August 4

Irvine Exec to Atlanta for AutoTrader.com

Jared Rowe will shift from the president’s post at Irvine-based Kelley Blue Book to the same title with parent company AutoTrader.com.

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Mazzo to Segerstrom Board

The Segerstrom Center for the Arts in Costa Mesa said today that James Mazzo is a new member of its board of directors.

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St. Joseph Hoag Health, CHOC in ACO

Irvine-based St. Joseph Hoag Health and Children’s Hospital of Orange County said today that they would form an accountable care organization.

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Midday Stock Roundup

The S&P 500 rose 0.25% to 1,930.02 in midday trading Monday.

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Chapman Film School Makes List

The Dodge College of Film and Media Arts at Chapman University was named the seventh best film school in the country out of 25 ranked by the Hollywood Reporter.

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La Palma Stands Out on OC Bank Deposits*

BANKING: Further review reveals that $1.9 billion—$120K per capita—isn’t exactly all that

Wealth isn’t always what it seems.

Investor Gets 4 Brea Offices in North OC Buy Streak

REAL ESTATE: $42M deal adds to $23M in recent buys

Irvine-based real estate investor PRES Cos. has made its second large acquisition in North Orange County this year—a four-building office portfolio in Brea.

Vizio Reconsiders Role of Computers in Brand’s Lineup

TECHNOLOGY: Cites weak PC sales, mum on next step

Vizio Inc.’s line of personal computers hasn’t generated the sort of buzz that helped power the quick rise of its high-definition, flat-screen TVs and soundbars.

Café Tu Tu Tango Still Tempts Taste Buds for Less

Spanish Menu Served Up in Boho Indy Style

People always ask restaurant journalists: “What is your favorite restaurant?”

Ahmanson Offers Insight From Heir’s Perspective

Vision, Effort Can Differ From Working Wealthy

Two visitors are ushered into the home of Howard and Roberta Ahmanson.

Costa Mesa-Based Bank Expands Board

Xavier Gutierrez has joined the board of directors at Costa Mesa-based Commercial Bank of California.

El Pollo Loco Charts Measured Growth This Time

RESTAURANTS: Post IPO, eyes nearly 400 Southwest spots

El Pollo Loco Holdings Inc. will target focused growth in markets similar to where it’s already strong with its well-received public offering under its belt.

List of Prospects for Allergan Acquisition Emerges

HEALTHCARE: Drug maker could derail hostile bid with deal

Names are emerging as potential buys for Irvine-based Allergan Inc. as it strives to derail Valeant Pharmaceuticals International Inc.’s hostile takeover attempt.

OCMA Aims for $12.5M Per Acre; All Sorts of Sports

Members of our OC’s Wealthiest list—the centerpiece of a Special Report that starts on page 15— enjoyed a good turn in terms of their finances over the past 12 months, even with the sharp dip for the Dow Jones late last week.

Beckman Coulter to Keep Siemens Buy Up North

Microbiology Unit To Stay In West Sacramento

Beckman Coulter Inc., a Brea-based maker of diagnostic testing instruments and supplies, is gearing up to digest its newest acquisition.

Vans Props for Secret Missions in New Skate Line Ad

Rapidweld ‘S’ Pack Shoes Celebrate Skating Lifestyle

Vans Inc.’s new skate line, Rapidweld “S” Pack, pays “homage to a culture of classified missions led by the military, the Air Force and beyond.”

Investors Like Package-Access Startup to Tune of $1M

Ex-Irvine Co. Exec Had Idea as Managed Rentals

An Irvine startup that uses electronic lockers and proprietary software to store and access delivered packages has raised more than $1 million from Tech Coast Angels investors as it expands operations beyond Southern California.

Greater LA Office Market Shows Spotty Progress

The Greater Los Angeles office market had pockets of positive activity in the second quarter, but overall progress was slim.

Long-Planned CdM Luxury Condo Project Starts Soon

Oceanfront Site Could Command Prices of $11M+

Construction on Aerie, an ultra-luxury condominium development in Corona del Mar more than 10 years in the making, is about to start.

No Summer Swoon for Wealthiest

Markets Cooperate as Entries Tally $54B

All the ingredients pointed to another good year for the richest residents of Orange County: an extraordinarily strong run in stocks, continued briskness in the commercial and residential real estate sectors, and some surprising resilience in the bond market.

KBS Fills Big Niche With Sales to Pimco, Irvine Company

REAL ESTATE: Towers in Houston, Chicago bring $216M in profits

Companies headed by OC’s wealthiest residents are proving to be a profitable source of business for Newport Beach-based KBS Realty Advisors.

Simon Scholars Find New Friend in Horatio Alger

National Organization Joins in $20M Commitment to College-Bound Kids in Need

Call them Simon Scholars with something extra.

OC's Remarkable Roster of Resorts

5 Ready to Receive Well-Heeled From All Over

Orange County isn’t just home to a lot of wealthy folks.

real estate deals

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

GGC Inc. sold an industrial building in Santa Ana for $1.6 million to Santa Fe Street LLC, a unit of concrete and asphalt company Allstar Paving Co.

OCBJ Calendar

Aug. 4-13 2014

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 31

The Chapter 11 plan for Costa Mesa-based Fisker Automotive Inc. got approval from the United States Bankruptcy Court for the District of Delaware. Wanxiang America Corp. bought the luxury hybrid automaker in February for $149.2 million in a bankruptcy auction and said it wanted to resume production of Fisker’s Karma sedan and a second-generation model.

Friday, August 1

Chapman Film School Makes List

The Dodge College of Film and Media Arts at Chapman University was named the seventh best film school in the country out of 25 ranked by the Hollywood Reporter.

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Allergan Contends Insider Trading in Suit against Valeant, Ackman

Irvine-based Allergan Inc. filed a federal lawsuit today that contends hostile suitor Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman engaged in insider trading.

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Irvine Investor Pays $35M for Insurer

Irvine-based Dhandho Holdings LP has agreed to pay $35 million for Stonetrust Commercial Mutual Insurance Holding Co. in Baton Rouge, La.

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Newport Beach Biopharmaceutical Company Raises $13.6M

Newport Beach-based Cold Genesys Inc. said it received $13.57 million in first round of funding.

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PacSun Exec Moves to Wet Seal

Wet Seal Inc. in Foothill Ranch said it appointed Christine Lee executive vice president and chief merchandising officer.

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Architecture Firm Changes Name

MVE Institutional Inc. changed its name to SVA Architects Inc., said Ernesto Vasquez, the Santa Ana-based architecture firm’s chairman and chief executive.

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Midday Stock Roundup

The S&P 500 fell 0.5% to 1,921.29 in midday trading Friday.

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Mazda Miata Hooks Up With Fashion Rocks

Mazda North American Operations in Irvine has launched “Road to Fashion Rocks,” a six-week TV, print and digital marketing campaign promoting soon-to-be released 2016 MX-5 Miata.

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