Stories for July 2014

Thursday, July 31

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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Auto Sales Leads Firm Reports Q2 Revenue

Autobytel Inc. said its second-quarter revenue was $25.9 million, up about 46% from the $17.8 million it posted a year ago but under the $27 million in revenue analysts expected from the Irvine-based automotive sales leads generator.

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Johnny Rockets Hires First Chief Marketer

Aliso Viejo-based Johnny Rockets named Joel Bulger chief marketing officer, a new position at the Americana-themed hamburger chain.

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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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Valeant Shares Dip; Allergan Bid Still On

Shares of Valeant Pharmaceuticals International Inc., which is attempting to take over Irvine-based Allergan Inc., fell sharply today after it cut its 2014 and 2015 profit forecasts.

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PacSun Exec Leaves Company

Pacific Sunwear of California Inc. said Christine Lee, its senior vice president of women’s merchandising and design, resigned.

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Midday Stock Roundup

The S&P 500 was down 1.42% to 1,942.12 in midday trading Thursday.

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SJC Cloud Specialist Raises $3.5M

San Juan Capistrano start-up GenieDB Inc. has raised $3.5 million, according to a filing with the Securities and Exchange Commission.

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Del Taco Offers Franchise Incentives

Lake Forest-based Del Taco LLC said it will offer incentives for franchisees in new markets as well as for military veterans and members of minority groups.

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Wednesday, July 30

Whole Foods Coming to Irvine Spectrum

Grocery chain Whole Foods Market will anchor a new shopping center in the Irvine Spectrum next to the Los Olivos apartment complex.

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Concordia Seeks 92,000 SF Expansion

Concordia University in Irvine has asked the city for approval to demolish buildings, construct new ones and add dorms and parking to its campus.

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Western Digital’s June Quarter Beats Wall Street

Irvine-based storage products maker Western Digital Corp. on Wednesday reported revenue and adjusted profits in the June quarter that beat Wall Street expectations.

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Jackson Asks for Broadcom’s Data on Race, Gender of Employees

Irvine-based chipmaker Broadcom Corp. is among the latest large technology companies to be pressured to provide employment data on race and gender as concerns rise over diversity in the influential sector.

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Edwards’ Profit Gain Fueled by Settlement

Irvine-based Edwards Lifesciences Corp. today reported second-quarter results that surpassed Wall Street’s expectations.

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Midday Stock Roundup

The S&P 500 was down 0.23% to 1,965.44 in midday trading Wednesday.

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CalFirst Bank Posts Flat Full-Year Profit

Irvine-based California First National Bancorp reported its fiscal year-end results, including about $7.3 million in full-year profit, about the same as a year earlier.

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Profit, Loans Up for Cal Republic

California Republic Bancorp reported $3.3 million in second-quarter profit, a 14% growth from the same period last year.

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Tuesday, July 29

Fisker’s Bankruptcy Plan Approved

The Chapter 11 plan for Costa Mesa-based Fisker Automotive Inc. got approval from the United States Bankruptcy Court for the District of Delaware.

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Edwards’ Profit Gain Fueled by Settlement

Irvine-based Edwards Lifesciences Corp. today reported second-quarter results that surpassed Wall Street’s expectations.

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JWA Uptick in June

Airline passenger traffic at John Wayne Airport grew in June compared to the same month last year, the airport said.

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Midday Stock Roundup

The S&P 500 was flat at 1,980.43 in midday trading Tuesday.

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Monday, July 28

MemorialCare Hospital Enters Pediatric Care Alliance

Fountain Valley-based MemorialCare Health System said today that its Miller Children’s Hospital formed an alliance with Torrance Memorial Medical Center.

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Allergan Raises Bar on Raiders With Cost Cuts, Pledge on Profits

Allergan Inc.’s promise of cost cuts and higher profits might have put the company out of its hostile suitors’ reach.

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Alphaeon Buys Eye Product Maker

Newport Beach-based Alphaeon Corp. said today that it bought Physician Recommended Nutriceuticals LLC in a deal that it said could be worth up to $55 million.

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Midday Stock Roundup

The S&P 500 declined 0.2% to 1,974.78 in midday trading Monday.

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Opus Posts Higher Loans, Lower Profit for Q2

Irvine-based Opus Bank posted $10.3 million in profit in the second quarter, down about 45% from the same period last year.

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NB Investor in $3M Deal for App Developer

Newport Beach-based private equity investor Kodiak Capital Group LLC has made a $3 million commitment to fund Eventure Interactive Inc. in Costa Mesa, a developer of social communications-oriented mobile applications.

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Ex-LA Mayor Stars in OC Bank’s Deal

FINANCE: Featured in ads, opponents take different view

An advocacy group protesting a proposed acquisition by Irvine-based Banc of California Inc. wants former Los Angeles Mayor Antonio Villaraigosa to broker a deal and end the dispute.

Lease at City Plaza Backfills Old Law Firm Space

EEC to Move HQ From Santa Ana With Deal

Environmental Engineering & Contracting Inc., a Santa Ana-based environmental consulting firm, said it plans to relocate its headquarters to the City Plaza office tower in Orange in September.

First Quarter Sees Commercial Construction in Full Swing

Construction of speculative industrial buildings in Orange County was in full swing during the first quarter, though construction of speculative offices had yet to begin and retail remained slow.

Western Digital’s Share of SSD Market Safe for Now

Google, Amazon Entries Likely No ‘Big Problem’

Google Inc. and Amazon.com’s recent entrance into the emerging solid-state drive market doesn’t appear to pose an imminent threat to Irvine-based memory products maker Western Digital Corp. or its Cupertino rival, Seagate Technology Inc.

Red Digital Takes Its Fancy Camera Work to YouTube

Channel Features Videos Shot With Red Equipment

No one is too good for YouTube. Red Digital Cinema Camera Co. in Irvine has launched an official YouTube channel, Shot on Red, which features 29 videos produced with the company’s 4K-resolution digital still and motion cameras.

San Clemente Device Companies Make FDA Moves

One Gets Device Clearance, Other Files Submission

Two small medical device makers in South County have had recent dealings with the Food and Drug Administration.

How High-End Agents Master Marketing of Luxe Homes

Prospect Perks Range From Cocktails to Tennis

There are distinctive techniques for marketing a luxury home that go beyond listing the house on the Multiple Listing Service and hosting an open house.

Illinois Firm to Buy Food Distributor

Brea-based natural food products distributor Nature’s Best agreed to be acquired by KeHE Distributors LLC in Naperville, Ill., on undisclosed terms.

Real Mex Restaurants CEO Leaves

Cypress-based Real Mex Restaurants Inc. President and Chief Executive Charly Robinson left the company, Real Mex confirmed, declining further comment.

Broadcom Backs Off Baseband Business

Irvine-based chipmaker Broadcom Corp. last week offered some details on its plans to cut about 20% of its workforce and consolidate or close 18 locations around the world as part of a restructuring plan prompted by the wind down of its unsuccessful baseband business.

Wienerschnitzel’s Millennial Out to Win Over Peers

MARKETING: Chain takes long view on younger customers

Monthly reports indicate that all is well at Irvine-based restaurant operator Galardi Group Inc.—sales are up at its Wienerschnitzel, The Original Hamburger Stand and Tastee Freez franchises throughout the nation.

Chapman Sees Chance to Grow Business Links With Schmid

EDUCATION: Puts $130M into school of science and tech

Chapman University had no formal school of science six years ago.

I-5 Publishing Expands Distribution Business by 30%

MEDIA: Gets account for rural retailer in industry shake-up

The publisher of Cat Fancy magazine has pounced on an opportunity to add a large outside account to its distribution operations.

Another Round of Renovations at Hilton Anaheim

HOSPITALITY: Lobby lounge, Starbucks next for upgrades

The largest hotel in Orange County is nearly done with the most visible parts of a touch-up worth several million dollars.

Student Housing, Hotel for Orange Coast Campus?

REAL ESTATE: Bond money backs community college plans

Student housing, new classrooms, a parking structure, and a boutique hotel are among the more than 1.3 million square feet of new buildings and facilities being considered for the campus of Orange Coast College in Costa Mesa.

Pyott on Points; Goodwill Gala; Reiff Steppes Up

The quick takeaway from last week’s Allergan action: Round 1 goes to David Pyott on points—and an acquisition would knock Valeant out cold

Real Estate Company’s ‘Core Value’ Its People

Hughes Marino Involves, Builds Up Employees

When Shay Hughes, chief operating officer of commercial real estate company Hughes Marino, started to plan the business’ quarterly retreat three years ago, she wanted it to be memorable, not only for its stunning location—Pelican Hills Golf Club—but also for what people would take away from the event.

Company Culture Breeds Independence, Commitment

Tech Firm Zumasys Uses Trust to Tap Workers’ Best

Nine years ago, someone special walked into Zumasys Inc.’s Irvine headquarters for a job interview for a warehouse position.

Perfect Match Starts With Taking Care of Team

Staffing Firm Head Said It Makes Own Workers Priority

Harlan Royce was out of work for nearly three years by the time he made contact with Staffmark.

Another Business Hotel in Works for Irvine

REAL ESTATE: About 800 rooms under construction or planned in city

A two-building office site in Irvine that’s about a block from John Wayne Airport is being eyed for a hotel development.

Allergan Raises Bar on Raiders With Cost Cuts, Pledge on Profits

HEALTHCARE: Q2 report, projections put valuations well beyond $52B bid

Allergan Inc.’s promise of cost cuts and higher profits might have put the company out of its hostile suitors’ reach.

Stance Takes Growth Stance With New Cash

APPAREL: Sock maker gets $25.9M from steady investor

A San Clemente-based sock maker is looking to fortify its position in key global markets, backed by a recent investment from a long-standing financial backer.

Best Companies Rise to Top With Closer Look

Annual Survey Delved Deeper With Employers, Workers

The latest batch of Orange County’s best places to work earned the distinction after a heightened research process.

What’s on Broadcom’s Drawing Board?

Great Park Campus Could Fit Thousands More Workers

The Great Park office campus designed to hold the new headquarters of Broadcom Corp. suggests that the chipmaker—currently in the midst of cutbacks—could be preparing to add several thousand jobs in Orange County over about the next five years.

real estate deals

A private trust sold a 19,402-square-foot retail strip center in Lake Forest for $7.4 million to investor Jin Yu Inc.

ADDENDUM

Newport Beach-based hotel sales and marketing company Preferred Hotel Group said it produced $420 million in reservations for member hotels in the first six months of the year, including 41 hotels added to its roster. Member hotels grew room nights 18% and bookings by 20% in the year-over-year period. The Business Journal estimates the company’s 2013 revenue at $70 million.

Hughes Marino’s 10 Core Values

Always do the right thing. Ask yourself these five questions: Is it right for the client? Is it right for the company? Is it ethical? Is it something you are willing to be held accountable for? Is it the right thing to do?

How Best Companies Make Lists

The Business Journal’s Best Places to Work lists are the result of months of surveying workers and management at local employers.

Friday, July 25

El Pollo Loco Stock Debuts Strong

El Pollo Loco’s IPO started on a strong note with a price at the top of its range and a 48% jump by midday.

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Pacific Premier Grows Loans, Income in Q2

Irvine-based Pacific Premier Bancorp Inc. reported $4.6 million in net income for the second quarter compared with a loss of $249,000 a year earlier.

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Midday Stock Roundup

The S&P 500 fell 0.47% to 1,978.68 in midday trading Friday.

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Pac Merc Swings to Profit in Q2

Costa Mesa-based Pacific Mercantile Bancorp Inc. managed to swing to a profit in the second quarter from the same period a year earlier, notching $4,000 in earnings.

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BJ’s Beats Estimates, Shares Up

Shares of BJ’s Restaurants Inc. jumped more than 15% following the company’s second-quarter earnings that beat analyst estimates and its guidance on two positive financial trends for the future.

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Ms. America Comes to Brea

The 2014 Ms. America Pageant will be in Brea this year at the Curtis Theater on Aug. 9.

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Thursday, July 24

Ingram Beats Revenue, Profit Targets in Q2

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

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Quality Systems Misses on Profit, Beats on Revenues

Irvine-based Quality Systems Inc. today posted mixed financial results for the three months ended June 30.

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Newport Corp. Buys Israeli Laser Maker

Irvine-based Newport Corp., which makes lasers and related equipment, has acquired an Israeli company that specializes in fiber lasers.

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Broadcom Offers Some Details on Baseband Cuts

Irvine-based chipmaker Broadcom Corp. plans to cut about 20% of its workforce and consolidate or close 18 locations around the world as part of a restructuring plan prompted by the wind down of its unsuccessful baseband business.

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Midday Stock Roundup

The S&P 500 was flat at 1,987.16 in midday trading Thursday.

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Wednesday, July 23

Broadcom to Trim Workforce

Irvine-based chipmaker Broadcom Corp. plans to cut about 20% of its workforce and consolidate or close 18 locations around the world as part of a restructuring plan prompted by the wind down of its unsuccessful baseband business.

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Microsemi Buys Irish Company

Aliso Viejo-based chipmaker Microsemi Corp. has acquired an Irish company that specializes in chip design geared for large-scale Ethernet operations and testing.

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Broadcom Shares Up on Q2 Report

Irvine-based chipmaker Broadcom Corp. said it earned an adjusted net income of $406 million or $0.65 per share in the second quarter, excluding one-time charges.

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Midday Stock Roundup

The S&P 500 rose 0.14% to 1,986.27 in midday trading Wednesday.

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Hotel Marketer Tops $400M in Reservations

Newport Beach-based hotel sales and marketing company Preferred Hotel Group said it produced $420 million in reservations for member hotels in the first six months of the year.

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Santa Ana Storage Maker Buys Media Archiving Firm

Santa Ana-based storage server maker ProMax Systems bought Golden, Colo.-based Cache-A Corp., which makes portable storage and archiving devices for the media and entertainment industry.

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Laguna Cliffs Names New GM

The Laguna Cliffs Inn in Laguna Beach named Rachel Tejeda general manager.

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Tuesday, July 22

Broadcom Shares Up on Q2 Report

Irvine-based chipmaker Broadcom Corp. said it earned an adjusted net income of $406 million or $0.65 per share in the second quarter, excluding one-time charges.

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NB Firm Offers App-Making App

Newport Beach-based BuildFire launched a website for companies to build apps and offer them on their own websites or through app stores.

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Job Cuts at Allergan HQ Could be Offset

Allergan Inc. said it will close three of its facilities around the U.S. and lay off about 1,500 employees over the next several months as part of a restructuring plan.

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Midday Stock Roundup

The S&P 500 rose 0.56% to 1,984.66 in midday trading Tuesday.

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NB Firm Offers App-Making App

Newport Beach-based BuildFire launched a website for companies to build apps and offer them on their own websites or through app stores.

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Monday, July 21

Job Cuts at Allergan HQ Could be Offset

Allergan Inc. said it will close three of its facilities around the U.S. and lay off about 1,500 employees over the next several months as part of a restructuring plan.

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Midday Stock Roundup

The S&P 500 dipped 0.25% to 1,973.19 in midday trading Monday.

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Allergan to Cut 1,500 Jobs

Allergan Inc. said it will cut about 1,500 jobs over the remainder of this year as part of a restructuring plan to save about $475 million next year.

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Brea Natural Foods Supplier Acquired

Brea-based natural food products distributor Nature’s Best has agreed to be acquired by KeHE Distributors LLC in Naperville, Ill.

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Real Mex CEO Departs

Cypress-based Real Mex Restaurants Inc. President and Chief Executive Charly Robinson has left the company according to reports.

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Kia Recalls 51,641 Vehicles

Kia Motors Corp. is recalling some 51,641 Soul vehicles produced from July 21, 2013 through Jan. 17, 2014 because of potential loss of steering, according to a letter automaker sent to National Highway Traffic Safety Administration.

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Vans’ Revenue Up 21%

Vans Inc.’s revenue rose 21%, its parent VF Corp. reported in its second quarter financials.

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ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 29

Boeing Co. won a Department of Defense contract to design a robotic plane to place satellites in space, according to the Orange County Register.

Irvine Firm Seeks Business Virtue in Catholic Practice

LAW: Recent combination aims for national client roster

Tim Busch and Michael Caspino have a clear growth plan in mind for their newly formed law partnership: make it the go-to firm for cases involving Roman Catholic entities nationwide.

Ketchum Univ. Names Health Dean

Fullerton-based Marshall B. Ketchum University named Judy Ortiz the first dean of its College of Health Sciences and director of its new School of Physician Assistant Studies.

Volcom’s New Vision

Paris-Based Parent Prods Change at OC Label

Volcom Inc. has outgrown its rebellious stage.

Ackman Must Beat Clock to Best Pyott

HEALTHCARE: Allergan defenses run deep; CEO not targeted in board ouster

Time, it seems, is on Allergan Inc.’s side. That much started to come clear last week when activist investor Bill Ackman set off a ticking clock in the background of his hostile takeover bid for the Irvine-based drug maker.

Toba Rolls Ahead With String of Exits, IPO

FINANCE: Smith’s VC firm backs up talk of fast start, OC investments

Toba Capital, the Irvine-based venture capital firm launched by former Quest Software Inc. Chief Executive Vinny Smith, is on a roll with three recent exits and an initial public offering topping $100 million apiece.

Hotels Get Creative With Modern Looks for Lobbies

Renovations, New Construction Emphasize Open Design

Look to the lobbies of Orange County’s newest and most recently redesigned hotels to see the hospitality industry’s latest generation of interior design on display.

Tenant-Improvement Firms Ride Upturn for 29% Jump

26 Firms Combine for $677 Million in Revenue Last Year

Orange County’s tenant-improvement industry posted its strongest year in more than a decade last year, buoyed by a spate of new construction work in addition to plenty of renovations at existing properties.

Tie Goes to Pyott?; Something Cool in South Coast Metro

The Insider isn’t ready to make a flat-out prediction but will say this much on the latest turn in the Allergan-Valeant saga: It looks as though David Pyott can play for a tie while his opponents have to win—and do it in regulation time.

Corinthian Programs Could Command $140M

EDUCATION: Wells Fargo, reports cite value, $101M debt

Corinthian Colleges Inc.’s selloff of schools and programs and its closing of campuses could bring in as much as $140 million.

Swimwear Maker Adds Labels, 190,000-SF Lease

APPAREL: Will consolidate distribution to Buena Park

The biggest swimwear maker in the U.S. is getting bigger with an expansion to Buena Park following its latest acquisition.

Swiss Conglomerate Shifts Units to Irvine

A Swiss manufacturer has expanded its North American industrial piping systems division in a move from Tustin to Irvine.

Fast-Casual Pizza Co. Eyes More Units, New States

RESTAURANTS: Pieology has Yum! vet to lead expansion

Pieology Pizzeria has cooked up ambitious plans to double in size by year-end and has hired a Yum! Brands Inc. veteran to help it get there.

Menlo Sheds Irvine Office With $36 Million Sale

REAL ESTATE: Investor paid $20M for offices in 2010

A two-building office property in Irvine a few blocks from John Wayne Airport has traded hands for $36 million.

Healthcare Project Construction Manager Bought By JLL

Chicago-based commercial real estate brokerage JLL acquired Cleo Construction Management in San Clemente for an undisclosed amount. Cleo specializes in construction and management of healthcare projects.

Print Service Provider in Deal for Security Specialist

Auxilio Pays $2.7M for San Clemente Company

Mission Viejo-based Auxilio Inc., a managed print services company serving the healthcare industry, said it is acquiring information security manager Delphiis in San Clemente this month in a $2.7 million cash and stock deal.

Fresh Roxy Style at the Beach—Venice Beach, That Is

New Quiksilver Video Part of ‘Season of Freedom’

Apparel manufacturer Quiksilver Inc. in Huntington Beach has launched a one-minute video, “Loving Lost in Venice.”

Blizzard Designer Exits Company After 17 Years

Pardo Was Lead Artist On ‘Warcraft,’ ‘Diablo’ Games

Blizzard Entertainment Inc. Creative Director Rob Pardo, a 17-year veteran at the Irvine-based video game maker and lead designer on the “World of Warcraft” and “Diablo” franchises, is leaving the company to embark on a new adventure.

South OC Continues Upward in First Quarter

Overall activity in the South Orange County commercial market picked up in the first quarter, recording positive net absorption of 176,679 square feet.

RREEF Adds Anaheim Hills Office to OC Portfolio

$18.5M Buy Comes After $20.4M Tustin Office Deal

Anaheim Hills Office Plaza, one of the largest North Orange County offices built in the last real estate boom, has had another change in ownership.

Fastest-Growing Private Cos. Wanted for List

ECONOMY: Centerpiece of Sept. 22 Special Report

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.

PHILANTHROPY

Nearly 300 guests donned their best party clothes during a night of Las Vegas-style poker at the Muscular Dystrophy Association’s 19th Annual Gift of Hope Gala on May 31.

OCBJ Calendar

July 21-30, 2014

This week's business and other event listings.

Real Estate Deals

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

LNR Partners LLC sold a retail building in Foothill Ranch for $6.6 million to Crown Realty & Development Inc.

El Pollo Loco Chain Sets IPO Terms

Costa Mesa-based El Pollo Loco Holdings Inc. set the terms for its planned initial public offering.

Art Museum in Negotiations on Property

The Orange County Museum of Art said it’s negotiating with a unit of New York-based developer Related Cos. to sell its Newport Center property.

Oculus Cancels Some Headset Orders

Irvine-based Oculus VR Inc. canceled some preorders for its Rift VR DK2 headset after finding them for sale on eBay and other ecommerce sites.

Friday, July 18

Vans’ Revenue Up 21%

Vans Inc.’s revenue rose 21%, its parent VF Corp. reported in its second quarter financials.

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Kia Recalls 51,641 Vehicles

Kia Motors Corp. is recalling some 51,641 Soul vehicles produced from July 21, 2013 through Jan. 17, 2014 because of potential loss of steering, according to a letter automaker sent to National Highway Traffic Safety Administration.

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Midday Stock Roundup

The S&P 500 rose 0.78% to 1,973.30 in midday trading Friday.

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OC Adds Jobs, Unemployment Rate Ticks Up

The unemployment rate in Orange County rose to 5.2% even as the county added 6,700 jobs in June.

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Investor Targets Yard House Parent

Starboard Value L.P. in New York City increased its ownership in Orlando-based Darden Restaurants Inc.to 7.1% and criticized its planned $2.1 billion sale of the Red Lobster chain.

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Corinthian Monitor Named

Law firm Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates and former U.S. Attorney Patrick Fitzgerald were named as the independent monitors for Corinthian Colleges Inc.’s wind-down of its operations.

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Thursday, July 17

Taco Bell Revenues Down

Irvine-based Taco Bell Corp. saw a 3% dip in revenue in the second quarter compared with a year earlier, according to results from parent Yum Brands Inc.

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Midday Stock Roundup

The S&P 500 fell 0.55% to 1,970.60 in midday trading Thursday.

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Irvine Publisher Gets Pet Websites

I-5 Publishing LLC in Irvine has acquired San Francisco-based Say Media Inc.’s Dogster and Catster websites, which attract a combined 2.5 million visitors each month, according to the company.

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Ensign Group Gets Four L.A. Facilities

Mission Viejo-based nursing home operator Ensign Group Inc. has agreed to acquire four care facilities in Los Angeles County from Keiro Senior HealthCare on undisclosed terms.

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Fewer VC Dollars, More OC Deals in Q2

Venture capital funding for Orange County companies dipped by 3% in the second quarter while the number of financing rounds increased.

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Beckman Coulter Acquires Siemens Unit

Brea-based laboratory instruments maker Beckman Coulter Inc. has agreed to acquire the microbiology unit of German conglomerate Siemens AG.

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CoreLogic to Close Charlotte Office

Irvine-based CoreLogic Inc. said it’s closing its Charlotte, N.C. office, cutting 46 jobs.

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UCI Squid Research Could Help on Medical Devices

University of California-Irvine materials science researchers have found a protein in squid skin that could be useful in developing medical devices.

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Wednesday, July 16

UCI Squid Research Could Help on Medical Devices

University of California-Irvine materials science researchers have found a protein in squid skin that could be useful in developing medical devices.

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JWA Area Hotel Completes $3.3 Million Upgrade

The Residence Inn Irvine John Wayne Airport/Orange County said it completed its $3.3 million renovation of 174 suites.

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Midday Stock Roundup

The S&P 500 rose 0.36% to 1,980.43 in midday trading Wednesday.

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Allergan Dismisses Ackman’s Move

Allergan Inc. rebuffed Bill Ackman’s latest attempt to push the Irvine-based drug maker to reconsider the value of Valeant Pharmaceuticals International Inc.’s takeover bid.

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Oculus Cancels Some Rift Pre-Orders

Irvine-based Oculus VR Inc. has cancelled some pre-orders for its Rift VR DK2 headset after finding them for sale on eBay and other ecommerce sites.

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NB Software Firm Buys Two Companies

Newport Beach-based Qliktag Software Inc. acquired two companies on undisclosed terms.

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Kaiser Aluminum EVP for Strategy Resigns

Kaiser Aluminum Corp.’s executive vice president of strategy resigned a month after his promotion to the post, according to company’s July 11 filing with U.S. Securities and Exchange Commission.

Sudek to Leave Chapman for UCI

University of California-Irvine has tapped the angel investor who heads Chapman University’s entrepreneurship center to direct its Institute for Innovation.

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NB Surgery Center Operator Gets $14M

Newport Beach-based surgery center operator Starpoint Health Inc. has received $14 million in a credit facility for recapitalization from Monroe Capital LLC in Chicago.

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Ketchum U. Names Dean for New School

Fullerton-based Marshall B. Ketchum University named Judy Ortiz the first dean of its College of Health Sciences and director of its new School of Physician Assistant Studies.

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Corinthian Reassures Students on Closings

Corinthian Colleges Inc. is telling students at campuses slated to close they can finish their degrees.

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Tuesday, July 15

Kaiser Aluminum EVP for Strategy Resigns

Kaiser Aluminum Corp.’s executive vice president of strategy resigned a month after his promotion to the post, according to company’s July 11 filing with U.S. Securities and Exchange Commission.

NB Surgery Center Operator Gets $14M

Newport Beach-based surgery center operator Starpoint Health Inc. has received $14 million in a credit facility for recapitalization from Monroe Capital LLC in Chicago.

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Ketchum U. Names Dean for New School

Fullerton-based Marshall B. Ketchum University named Judy Ortiz the first dean of its College of Health Sciences and director of its new School of Physician Assistant Studies.

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Sudek to Leave Chapman for UCI

University of California-Irvine has tapped the angel investor who heads Chapman University’s entrepreneurship center to direct its Institute for Innovation.

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Corinthian Reassures Students on Closings

Corinthian Colleges Inc. is telling students at campuses slated to close they can finish their degrees.

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El Pollo Loco Sets IPO Price

Costa Mesa-based El Pollo Loco Holdings Inc. has set the terms for its planned IPO, according to reports.

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J.L. Patterson Gets $7M Contract on SD County Bridges

Orange-based J.L. Patterson & Associates Inc. has received a $7 million contract from Oceanside-based North County Transit District to provide bridge inspection and management services.

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JLL Buys San Clemente Construction Manager

Chicago-based commercial real estate brokerage JLL, has acquired Cleo Construction Management in San Clemente for an undisclosed amount.

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190,000 SF Lease for Manhattan Beachwear

Cypress-based swimsuit maker Manhattan Beachwear LLC has signed a lease on a 191,000 square-foot location in Buena Park, where it plans to set up a warehouse and distribution center.

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$4.8M for Diabetes Management Startup

Laguna Hills-based Metronom Health Inc. has raised $4.8 million in seed funding, according to a filing with the Securities and Exchange Commission.

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OC Museum of Art Selling Newport Center Property

The Orange County Museum of Art said on Monday that it is negotiating with a unit of New York-based developer Related Companies to sell its Newport Center property.

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FV Hospital Gets New COO, Local Hospitals on ‘Best’ List

Fountain Valley Regional Hospital & Medical Center has appointed Edward Littlejohn its new chief operating officer.

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3 New Execs for Santa Ana Healthcare Firm

Santa Ana-based managed-care provider Health Essentials LLC has tapped several new executives as it plans to participate in Cal MediConnect, a new initiative that aims to promote healthcare services to seniors and patients with disabilities.

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Midday Stock Roundup

The S&P 500 declined 0.26% to 1,971.92 in midday trading Tuesday.

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Monday, July 14

OC Museum of Art Selling Newport Center Property

The Orange County Museum of Art said on Monday that it is negotiating with a unit of New York-based developer Related Companies to sell its Newport Center property.

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3 New Execs for Santa Ana Healthcare Firm

Santa Ana-based managed-care provider Health Essentials LLC has tapped several new executives as it plans to participate in Cal MediConnect, a new initiative that aims to promote healthcare services to seniors and patients with disabilities.

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JLL Buys San Clemente Construction Manager

Chicago-based commercial real estate brokerage JLL, has acquired Cleo Construction Management in San Clemente for an undisclosed amount.

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190,000 SF Lease for Manhattan Beachwear

Cypress-based swimsuit maker Manhattan Beachwear LLC has signed a lease on a 191,000 square-foot location in Buena Park, where it plans to set up a warehouse and distribution center.

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J.L. Patterson Gets $7M Contract on SD County Bridges

Orange-based J.L. Patterson & Associates Inc. has received a $7 million contract from Oceanside-based North County Transit District to provide bridge inspection and management services.

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$4.8M for Diabetes Management Startup

Laguna Hills-based Metronom Health Inc. has raised $4.8 million in seed funding, according to a filing with the Securities and Exchange Commission.

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Allergan Rebuffs Valeant's Latest Move

Valeant Pharmaceuticals International Inc. has filed a pre-merger notification with the U.S. Federal Trade Commission in its pursuit of Irvine-based Allergan Inc.

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Chipmaker WiSpry Raises $8M

Irvine-based chipmaker WiSpry Inc. has raised $8 million in a funding round, according to documents filed with the Securities and Exchange Commission.

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Midday Stock Roundup

The S&P 500 was up 0.56% to 1,978.64 in midday trading Monday.

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Juice Chain Expands in Texas

Irvine-based Juice It Up said it would add three franchised locations in Texas.

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Allergan to Shareholders: Leave Board in Place

Valeant Pharmaceuticals International Inc. has filed a pre-merger notification with the U.S. Federal Trade Commission in its pursuit of Irvine-based Allergan Inc.

Ex-Ahold CFO Joins Western Digital Board

Irvine-based memory products maker Western Digital Corp. expanded its board of directors with the appointment of finance veteran Paula Price.

ClearLight Sells Juice Maker for $150M

Newport Beach-based private equity firm ClearLight Partners LLC sold portfolio company Apple & Eve LLC to Canadian food manufacturer Lassonde Industries Inc. for about $150 million.

USC’s Keck Gets OC Medical Practice

Keck Medicine of USC, the University of Southern California’s medical enterprise, acquired Orange Coast Oncology Hematology Medical Associates for an undisclosed price as part of a cancer-treatment network allowing local patients to avoid trips to Los Angeles for care.

TRI Pointe Expands Operations Post Weyerhaeuser Close

REAL ESTATE: Builder hires, grows office, as home prices rise

Expect a larger headquarters in Irvine but not much else in the way of local changes at TRI Pointe Homes Inc. following its audacious buy of the homebuilding division of Federal Way, Wash.-based timber conglomerate Weyerhaeuser Co.

Toshiba Aims to Print Up New Image for Irvine Unit

MEDIA: Eyes role as manager of information in mobile world

Toshiba America Business Solutions Inc., an Irvine-based print product powerhouse, has seen the writing on the wall for some time now—advances in mobile technology are changing the way companies communicate, a shift that’s pushing its once-legacy business toward oblivion.

Real Estate Deals

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

The Mayfield Trust sold a multitenant shopping center in Lake Forest to a private China-based buyer for $7.6 million.

Accounting Firms Tally Up 4% in OC Staff Increases

Gains Represent Third Year of Local Staff Jumps

Orange County’s top accounting firms combined to grow their local offices by 4%, continuing a run of employment gains for the third straight year.

Brea Office Fetches $20.8 Million After Upgrade

Zodiac Inflight Building Sells to Ex-Arden CEO

A Brea office largely occupied by Zodiac Inflight Innovations, a maker of portable in-flight entertainment players and related software, has traded hands for more than $20 million.

D-Link Looks to Grow on Gear for Connected Homes

TECHNOLOGY: New products ready, ad campaign in works

Fountain Valley-based D-Link Systems Inc. is making an aggressive move into the connected-home market with a slew of new products, big retail distributors, and its first national TV campaign.

Oculus VR Buys, Announces Conference

Irvine-based Oculus VR Inc. announced another acquisition and plans to host a September developer conference in Los Angeles.

Management Consultants Grow OC Workforces 25%

Regulatory Changes, Plus Acquisition Fuel Increase

Orange County’s top management consulting firms grew their local offices by 25% over the past year, the highest rate since a recovery in hiring began in 2011.

Software-as-a-Service Provider Grows Into New HQ

Project Insight’s Revenue Climbs Quickly

An Irvine software company that’s helped Gap, Cisco and Dell streamline work projects has expanded into a new 5,000-square-foot headquarters.

Mid-Counties Industrial Market Activity Up 15%

First-quarter activity in the Mid-Counties industrial market continued to be led by users of 10,000- to 60,000-square-foot properties, which made up 44 of the 51 transactions.

Kaiser Permanente Official Discusses Health Trends

Small Providers, Plans Could Join Under Reform

An official who works for the largest health maintenance organization operating in OC recently visited an unusual forum to talk health trends: an investment bank that covers some of its for-profit competitors.

Kingston Ad’s Gender Stereotypes Target Inner Geek

Gadgets Save Boyfriend Bored By Girls’ Day Out

Kingston Technology Co.’s TV spot—“This is Sam—the story of the DT microDuo”—uses gender stereotypes to tap into consumers’ inner geek.

Irvine Healthcare REIT Sale Possible

Irvine-based Griffin-American Healthcare REIT II, an owner of healthcare-related real estate properties, could be bought by NorthStar Realty Finance Corp. of New York, according to news reports.

ADDENDUM

Other items of interest Orange County Business Journal

Huntington Beach-based apparel maker Quiksilver Inc. entered into licensing agreements for several product categories, Chief Executive Andy Mooney said.

Different Extras Catch Luxury Homebuyers’ Eyes

Marble Baths, Wine Rooms Coveted; Others Less So

Marketing a luxury home in coastal Orange County is a science.

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.

Q&A

Some local accounting firm executives say an improving economy, increasingly complex client needs, and heightened regulation are combining to bring them more work, a phenomenon they say will likely require bigger staffs. Meanwhile, technology is becoming more of a crucial element in helping meet the growing workloads. The Business Journal’s Jane Yu recently asked several firms to talk about trends in supply and demand in the industry and about the pace of professionals entering the field, along with how the firms use and invest in information technology. Here are edited excerpts of their responses.

Building Time in Orange?

Office Buys Could Spur Apartments, Tower Project

A big chunk of apartment construction and a new office tower could go up on land next to the Outlets at Orange following the recent sale of two nearby buildings.

Fashion Label Likes Look of Competition

APPAREL: Irvine-based Z Supply feeds off challenges of fast-fashion

Forget about the doom-and-gloom projections that women’s retail is boring, merchandising is dead, and Forever 21 killed the category.

Allergan’s New Look Likely to Include Slimmer Headquarters

HEALTHCARE: Plans some R&D cuts to boost earnings amid takeover battle

Look for Allergan Inc. to start looking different as the takeover battle for the Irvine-based drug maker grinds on.

Vinny’s Other Dell Deal: $150M for Quest’s Venture Portfolio

FINANCE: 10 companies formed foundation of Irvine-based Toba

The foundation of what is now the largest venture capital firm in Orange County tracks back to Vinny Smith’s success in retrieving a chunk of Quest Software in a deal struck nearly a year after its $2.8 billion sale to Dell Inc.

Irvine’s Outsized Rep; SCR Goes to Santana; Augie Takes a Hike

Sheril Liu of ReMax Premier Realty in Irvine put a clear focus on one of the ways the city—with a population a bit under 250,000—punches above its weight.

OC Roots Surface in $140 Million Acquisition

TECHNOLOGY: Lake Forest company in hot segment

The deep roots of Orange County’s technology sector intersected with one of the industry’s hottest segments in last week’s $140 million sale of Lake Forest-based chipmaker Newport Media Inc.

No Local Changes Seen After Medtronic Buy

HEALTHCARE: Q4 closing expected for $42.9B deal

Medtronic Inc. is likely to keep its Orange County operations basically intact, even after it wraps up a multibillion-dollar acquisition that could make it one of the top five medical device makers by local employment.

King’s Seafood Plans Water Grill in OC

DINING: High-end concept in downtown LA, Santa Monica

Costa Mesa-based restaurant operator King’s Seafood Co. plans to put a minimum of $5 million into an Orange County location of its high-end Water Grill.

OCBJ Calendar

July 14-22, 2014

This week's business and other event listings.

Friday, July 11

Juice Chain Expands in Texas

Irvine-based Juice It Up said it would add three franchised locations in Texas.

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Midday Stock Roundup

The S&P 500 was flat at 1,964.82 in midday trading Friday.

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Western Digital Arm Leads $20M Funding Round

Western Digital Capital, the investment arm of Irvine-based storage products maker Western Digital Corp., has led a $20 million funding round for a Pittsburgh cloud storage provider.

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Quiksilver in License Deals

Huntington Beach-based apparel maker Quiksilver Inc. entered into licensing agreements for several product categories, according to Chief Executive Andy Mooney.

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OC-Based Restaurants Make Consumer Reports List

Irvine-based restaurant chains Habit Restaurants LLC and In-n-Out Burger Inc. scored highly in a Consumer Reports subscriber survey of fast food and fast casual eateries.

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Thursday, July 10

Western Digital Arm Leads $20M Funding Round

Western Digital Capital, the investment arm of Irvine-based storage products maker Western Digital Corp., has led a $20 million funding round for a Pittsburgh cloud storage provider.

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Midday Stock Roundup

The S&P 500 fell 0.45% to 1,963.92 in midday trading Thursday.

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Medical Weight Loss Co. Gets $4 Million

San Clemente-based ReShape Medical received $4 million in debt financing to support its efforts to gain approval for a medical device to treat obesity.

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NB Real Estate Research Firm Sells Majority Stake

Newport Beach-based commercial real estate research firm Green Street Advisors Inc. has sold a majority stake to Golden Gate Capital, a private equity firm in San Francisco.

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Wednesday, July 9

Chapman Sci-Tech Gets $1 Million Boost

Chapman University received a $1 million grant from the Los Angeles-based W.M. Keck Foundation to support its planned Center for Science and Technology.

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Dubai Retailer Opens a Store in Tustin

Dubai-based shopping center chain Ansar Group of Cos. will host a grand opening of a store in Tustin, its first in the U.S.

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Hospitality Group Names Senior Leaders

The Irvine-based Orange County Visitors Association promoted two senior executives, announced the retirement of a third and named a fourth.

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Midday Stock Roundup

The S&P 500 rose 0.24% to 1,968.43 in midday trading Wednesday.

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USC’s Keck Buys OC-Based Practice for Cancer Network

Keck Medicine of USC, the University of Southern California’s medical enterprise, has acquired Orange Coast Oncology Hematology Medical Associates for an undisclosed price as part of a cancer-treatment network allowing local patients to avoid trips to Los Angeles for care.

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Tuesday, July 8

Report: Griffin-American Healthcare REIT II in Sales Talks

Irvine’s Griffin-American Healthcare REIT II, an owner of healthcare-related real estate properties, could be bought by New York-based NorthStar Realty Finance Corp., according to reports.

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Western Digital Adds Director

Irvine-based memory products maker Western Digital Corp. has expanded its board of directors with the appointment of finance veteran Paula Price.

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Clinic Gets $2.5M From Catholic Bishops

The non-profit Birth Choice Health Clinics in Aliso Viejo has received a $2.5 million from Catholic Campaign for Human Development, a national anti-poverty program of the Washington, D.C.-based U.S. Conference of Catholic Bishops.

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Midday Stock Roundup

The S&P 500 declined 0.59% to 1,966.06 in midday trading Tuesday.

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Report: Yard House Tabbed For Growth

Yard House USA Inc. is the second-fastest growing restaurant chain in the country, according to Nation’s Restaurant News.

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Monday, July 7

Midday Stock Roundup

The S&P 500 fell 0.44% to 1,976.77 in midday trading Monday.

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Ackman, Pershing Square Present Allergan Board Candidates

Activist investor Bill Ackman and his Pershing Square Capital Management LP today unveiled a slate of director candidates for Irvine-based Allergan Inc.

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Oculus’s Latest Buy in Costa Mesa; Plans Developer Conference in L.A.

Irvine-based Oculus VR Inc. on Monday announced another acquisition and plans to host a September developer conference in Los Angeles.

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Corinthian Colleges Agrees to Wind-Down Plan

Corinthian Colleges Inc. will try to shed most of its more than 100 campuses in the United States and Canada and end programs at the others under a deal with the U.S. Department of Education.

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Fastest-Growing Private Companies Wanted for Annual List

The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2012 to mid-2014 for our annual list of fastest-growing privately held companies.

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Newport Media Sold for $140M

Lake Forest-based Newport Media Inc. has been acquired by San Jose-based chipmaker Atmel Corp. for $140 million in cash.

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ClearLight Sells Portfolio Company for $150M

Newport Beach-based private equity firm ClearLight Partners LLC has sold its portfolio company Apple & Eve LLC to Canadian food manufacturer Lassonde Industries Inc. for about $150 million.

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Mazda Sets Launch Date for New Miata

Irvine-based Mazda North American Operations said it’s skipping the auto show arena and plans to instead unveil its revamped 2016 MX-5 Miata on Sept. 3 during simultaneous events in Japan, Spain and Monterey, Calif.

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Manufacturing, Warehouse Space Tight in OC

The vacancy rate in the Orange County manufacturing and warehouse sector steadily decreased over the past 12 months from 2.8% to 2.5% at the end of the first quarter.

Chapman Adds to Spectrum Campus With Office Buy

Unisys Building Slated for Health Science Programs

Chapman University in Orange has completed the purchase of a third office in the Irvine Spectrum that it will use to house the school’s new graduate health sciences programs.

Airwolf’s New 3-D Printer Smooths Prototype Process

Latest Model Targets Higher-End Market

Costa Mesa startup Airwolf 3D said it has notched another breakthrough in 3-D printing technology with its latest model.

First Look at Spectrum Tower

Irvine Company Goes With Glass for ‘Iconic’ Plan

The newest office tower planned for the Irvine Spectrum is expected to gain attention for more than its size.

Women’s Work: Revenue Growth, New Hires

Female-Owned Businesses Top $3B, 26,000 Jobs

Orange County’s biggest women-owned businesses combined to grow revenue by 7% last year, notching a fourth-straight year of top-line gains for a total of $3.1 billion.

How Zee Sees It

Allred’s Career Brings Business, Family, Community Together

Name a challenge that could faze a businesswoman.

Commercial Plans for Great Park Look Fit For Broadcom Campus

REAL ESTATE: Preliminary plan calls for 8 buildings, 2 million square feet

The developers of the Great Park Neighborhoods in Irvine have filed plans for the first batch of commercial construction at the former El Toro Marine Corps air station, a 2-million-square-foot office park that appears designed to hold the headquarters and expanded operations of Broadcom Corp.

CSUF Survey Shows Trim on Q3 Outlook

ECONOMY: Quarterly index shows slight dip on mixed sentiments

Orange County business executives are feeling less optimistic about the local economy heading into the third quarter, according to the latest quarterly index of business sentiments published by the Mihaylo College of Business and Economics at California State University-Fullerton.

Entrepreneur Turned Childhood Tragedy Into Solution

Helps Companies Keep Workers Safe on the Job

Marjorie Del Toro wants to make sure everyone comes home safe from work, a mission she took upon herself years after a string of preventable accidents marred her childhood.

Decision to Quit Led to Start of Agency of Her Own

Trip Designs Specializes in Balkans, Personal Touch

Milica Obradovic’s plunge into business ownership was a “spur-of-the-moment decision” she made when the manager at a travel agency where she worked for 15 years tipped her “over the edge.”

Of Gender & Jobs; Zee Is for Zelma; ‘Creekside Chic’

There’s been much consternation about the relatively slow pace of employment growth nationally, even with last week’s report of a big gain on jobs in June.

LA Fitness Buyout Plan Calls for $1.6B in Credit

SERVICES: Reports say $1B would go to single stakeholder

A new financing deal in the works for LA Fitness could result in a change in the ownership structure of the Irvine-based fitness chain.

New Brand Plan for Reorganized Visitor Bureau

HOSPITALITY: Possible name change for Anaheim/OC group

The Anaheim/Orange County Visitor & Convention Bureau will rebrand itself, with a new name and logo as possibilities by year-end.

Electromagnetic Filter Maker in SA Acquired

Santa Ana-based Filter Concepts Inc. has been acquired by Astrodyne Corp. on undisclosed terms.

Business School Dean Puts Change in Air at Concordia

EDUCATION: Christensen oversees new MBA programs

Steve Christensen is full-throated—like his hometown.

Juice Chains Eye OC as Prime Territory in Growth Push

RESTAURANTS: 2 based here to add locations at ambitious clip

Orange County is getting juicier.

Ingram Micro Buys Minn. IT Provider

Santa Ana-based Ingram Micro Inc. acquired a Minnesota Internet technology provider to bolster its professional services offerings for its network of global resellers.

Dental Products Maker Buys in Oxnard

Orange-based dental products maker Kerr Corp. acquired a pair of business units in Oxnard in an effort to expand its portfolio of dental products and to venture into the animal healthcare market.

Investment Bank in Three Funding Deals

Newport Beach-based investment bank Digital Offering LLC helped raise more than $10 million for its first batch of clients, including two with headquarters in Orange County.

Meritus to Be Bought for $210 Million

Santa Ana-based Meritus Payment Solutions agreed to be acquired for $210 million by Optimal Payments PLC, an online payment services provider with headquarters in London.

PHILANTHROPY

Pacific Investment Management Co. founder Bill Gross, and his wife, Sue, president of the Gross Family Foundation, donated $1.5 million in May to the Charles R. Drew University of Medicine and Science’s nursing school in Los Angeles.

Intraocular Lenses Expected to Spur Abbott Growth

Recently Got European Approval for Device

Abbott Laboratories’ vision care unit, which has more than 600 workers in Orange County, represents “significant prospects” for the company, according to a recent article on the Seeking Alpha investor website.

Experian Ejects Competitors in Talking-Computer Ads

Aims to Depict Others As Unreliable Credit Managers

Experian PLC in Costa Mesa is trying to set itself apart from the competition with its new 30-second TV ads featuring two rogue computers—the fictional Karmarama 2000 and Jacktronic VI.

real estate deals

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

A family trust sold an apartment complex in Laguna Beach to another family trust for $4.1 million.

OCBJ Calendar

July 7-16, 2014

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal

Kia Motors America signed on as the official automotive sponsor of the Segerstrom Center for the Arts in Costa Mesa.

Thursday, July 3

Midday Stock Roundup

The S&P 500 rose 0.55% to 1,985.40 in trading Thursday, during a holiday-shortened session.

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Mazda Sets Launch Date for New Miata

Irvine-based Mazda North American Operations said it’s skipping the auto show arena and plans to instead unveil its revamped 2016 MX-5 Miata on Sept. 3 during simultaneous events in Japan, Spain and Monterey, Calif.

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Wednesday, July 2

3 of 4 OC-Based Automakers Top Sales Pace

Three of the four Orange County-based automakers outpaced the industry overall in June, according to Autodata Corp.

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Galardi Group CEO Named to Literacy Board

Cindy Galardi Culpepper, the chief executive office of Irvine-based restaurant operator Galardi Group Inc., has been has been named to the board of the Literacy Project.

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Midday Stock Roundup

Major indices were flat in midday trading Wednesday.

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Corinthian Deal Expected in Days

Corinthian Colleges Inc. will get more time to strike a deal with the U.S. Department of Education on plans to wind down or sell schools and programs.

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Tuesday, July 1

Ingram Micro Buys Minnesota IT Firm

Santa Ana-based Ingram Micro Inc. has acquired a Minnesota Internet technology provider to bolster its professional services offerings for its network of global resellers. Financial details of the buy were undisclosed.

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$210M for Santa Ana Payment Processing Company

Santa Ana-based Meritus Payment Solutions has agreed to be acquired for $210 million by Optimal Payments PLC, an online payment services provider with headquarters in London.

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Midday Stock Roundup

The S&P 500 rose 0.9% to 1,977.90 in midday trading Tuesday.

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Corinthian Colleges to Sell Heald

Santa Ana-based Corinthian Colleges Inc. said it will sell its Heald schools as part of an agreement with the U.S. Department of Education.

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Mazda Named St. Jude Children’s Hospital Corporate Partner

Mazda North American Operations’ Drive for Good holiday promotion has grown into a new role as St. Jude Children’s Research Hospital’s corporate partner of the year.

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