Stories for October 2014

Friday, October 31

Oakley, Garmin in Goggle Deal

Oakley Inc. said it has partnered with Garmin International Inc., which makes GPS navigation devices, to “expand functionality” of its Oakley Airwave 1.5 alpine ski and snowboard goggles.

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Pac Communications Founder to Retire

Pacific Communications President Ryan Abbate said he will retire at the end of the year.

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Midday Stock Roundup

Major stock indices were strongly higher in midday trading.

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Philharmonic Society Names Director

The Irvine-based Philharmonic Society of Orange County named John Mangum its new president and artistic director.

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Thursday, October 30

Boot Barn Goes Public

Boot Barn Holdings Inc. began trading this morning priced at $16 a share and rose 12.8% to $18 a share and a market cap of $450 million in midday trading.

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Midday Stock Roundup

The S&P 500 rose 0.37% to 1,989.68 in midday trading.

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Wednesday, October 29

Boot Barn Sets IPO Price

Boot Barn Holdings Inc. has priced its initial public offering of 5 million shares of its common stock at $16.

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St. Regis Names New GM

The St. Regis Monarch Beach Resort in Dana Point named Ian Pullan its General Manager.

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Chapman Film School in Top Five

The Dodge College of Film and Media Arts at Chapman University cracked another film school list, coming in at No. 4 on the College Factual ranking of the 10 best U.S. film schools.

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Kia Motors Signs New NBA Deal

Irvine-based Kia Motors America Inc. will continue as the Official Automotive Partner of the National Basketball Association, and its K900 sedan will take on the role of the league’s official luxury vehicle.

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AtheroNova Prices Offering

Irvine-based biotechnology company AtheroNova Inc. priced an offering of 4 million shares of its stock and warrants to buy its stock.

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Western Digital Beats Street

Irvine-based storage products maker Western Digital Corp. first-quarter revenue and adjusted earnings beat Wall Street estimates.

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GM Ventures Takes Stake in Telogis

Aliso Viejo-based Telogis Inc. has received an equity investment from GM Ventures, the venture capital arm of General Motors Inc.

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Midday Stock Roundup

The S&P 500 was down 0.22% to 1.980.88 in midday trading.

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OC Auto Sales on Pace for 7.3% Gain

Sales at Orange County auto dealers rose 6.4% to 46,540 vehicles in the third quarter compared to the same period last year—the 16th consecutive quarterly improvement, according to the Newport Beach-based Orange County Automobile Dealers Association.

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Tuesday, October 28

OC Auto Sales on Pace to Reach 7.3% Gain

Sales at Orange County auto dealers rose 6.4% to 46,540 vehicles in the third quarter compared to the same period last year—the 16th consecutive quarterly improvement, according to the Newport Beach-based Orange County Automobile Dealers Association.

Vizio New Title Sponsor for Fiesta Bowl

Irvine-based Vizio Inc. has signed on as the title sponsor of the 44th Annual Fiesta Bowl.

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St. John Knits CEO to Step Down

Geoffroy van Raemdonck will step down as the chief executive of the Irvine-based high-end knitwear maker St. John Knits International Inc., according to California Apparel News.

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Houston Firm Buys Stake in Brea Distributor

Minerco Resources Inc. in Houston, Texas, has acquired a 30% stake in Brea-Based Avanzar Sales and Distribution LLC for $500,000.

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Placentia-Linda Hospital Names Chief Executive

Tenet Healthcare Corp. said today that Audrey Gregory is the new chief executive of Placentia-Linda Hospital.

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CareTrust Buys Idaho Senior Housing

Mission Viejo-based CareTrust REIT Inc. said today that it will spend $12 million to buy three senior housing facilities.

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OC Restaurants Sign on to Local Jobsite

Two Orange County-based restaurant chains have signed on to find employees from a new online employment service, the company behind the website said.

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Western Digital Revenue Up; Income Down

Irvine-based storage products maker Western Digital Corp. said first-quarter revenue grew 4% while income fell 15%.

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Midday Stock Roundup

The S&P 500 rose 0.65% to 1,974.46 in midday trading.

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Kodiak Takes $5M Stake in Energy Company

Newport Beach-based investment firm Kodiak Capital Group LLC has agreed to buy $5 million worth of common stock of Cirque Energy Inc., a Detroit-based developer of alternative energy sources.

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Opus Misses Estimates on Q3 Profit

Irvine-based Opus Bank’s third-quarter net income fell short of Wall Street estimates.

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Mazda to Debut CX-3 at LA Auto Show

Mazda Motor Corp. said it plans to introduce a compact crossover SUV, the Mazda CX-3, at the Los Angeles Auto Show next month.

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Taco Bell Rolls Out New App

Irvine-based Taco Bell Corp. today introduced its new mobile app for ordering and payment.

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Monday, October 27

Mazda to Debut CX-3 at LA Auto Show

Mazda Motor Corp. said it plans to introduce a compact crossover SUV, the Mazda CX-3, at the Los Angeles Auto Show next month.

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Midday Stock Roundup

The S&P 500 declined 0.25% to 1,959.70 in midday trading.

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Valeant Might Up Bid; Allergan Beats the Street

Valeant Pharmaceuticals International Inc. said today it would be willing to raise its hostile takeover bid for Irvine-based Allergan Inc. to $200 a share.

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ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 43

Pacific Premier to Acquire Bank

Irvine-based Pacific Premier Bancorp Inc. has agreed to pay $71.5 million to acquire Independence Bank in Newport Beach.

Four Schools in Great Park Solar Project

Two universities and two community colleges in Orange County are working together on next year’s entry for the Solar Decathlon at the Orange County Great Park in Irvine.

Brea Mall Enlists Style Website to Draw Millennial Shoppers

Connecting brick-and-mortar stores with Millennials who are savvy online consumers can be a challenge.

Digital Ad Tracker’s Cake Gets New Look, Goals

MARKETING: Accelerize sells self in Nasdaq aim

Tracking digital ad campaigns is a piece of cake, according to Accelerize Inc.—its own Cake, that is.

Newport Beach Ad Shop Pays Off for Philadelphia Parent

MARKETING: 160over90 built niche after landing UCLA

The Newport Beach office of Philadelphia-based advertising agency 160over90 has become a prime contributor to its parent’s performance since it decided to take a chance on Orange County three years ago.

As the Takeover Turns: Advantage Valeant—Can It Hold Serve?

HEALTHCARE: Q3 boost; Allergan gives lengthy critique

Valeant Pharmaceuticals International Inc. got some traction on its hostile takeover attempt of Allergan Inc. last week, with a third-quarter earnings report reversing a weekslong dip that had dragged its bid below the market value of the Irvine-based drugmaker.

LB Hotel Fetches $8.2M in Auction

HOSPITALITY: $124,000 per room for Best Western affiliate

A 66-room hotel in Laguna Beach is set to change hands for $8.2 million after the note securing it was sold via an Internet auction last week.

Cypress West Nears $100M With Medical Office Buy

REAL ESTATE: GE Capital backs firm’s first OC deal

Cypress West Realty Partners LLC, a Ladera Ranch-based investor in healthcare properties, has made a medical building in Rancho Santa Margarita its first local purchase.

Kaiser Chief Ends Long OC Run, Heads to ATL

HEALTHCARE: No word yet on successor to veteran exec

Kaiser Foundation Hospitals and Health Plan is set to get a new top official in Orange County.

Pac Life Adds Tea Leaves to Brew in Newport Center

Not much math but plenty of tea leaves to read on the Pimco-Janus front.

Snell & Wilmer Renews Lease at Costa Mesa Tower

Law Firm Second Largest Tenant at 21-Story Office

Plaza Tower, arguably the best-known office building in Costa Mesa, is keeping one of its signature tenants.

PHILANTHROPY

The Boys & Girls Club of Santa Ana held a grand opening and ribbon cutting on Sept. 11 for its Garage Teen Center and the renovation of the newly named Joe MacPherson Center for Opportunity.

Inland Empire Industrial Market Has Busy Third Quarter

The Inland Empire industrial market continued to grow in total gross activity during the third quarter, maintaining an upward trend that picked up in the second quarter after a relatively slow first quarter.

Chain’s Mascot Takes Wild Ride in Pursuit of Future

Wienerschnitzel Sponsors Gibbs Racing Team in NC

Look for Wienerschnitzel’s mascot, The Delicious One, running down the motocross race track.

Abbott Medical Optics Unveils Two New Products

FDA OK’d Their Laser for Cataract Surgery Use

Abbott Medical Optics, a Santa Ana-based business unit of Chicago-based Abbott Laboratories, is introducing a pair of products for laser cataract surgeries.

Financial Firms Add Advisers, Cut Total Workforces

Reps Jump 3.4%, Overall Staff Down 5% at Top 23

Orange County’s financial advisory firms combined to deepen the pool of registered advisers here while reducing the size of their overall employment bases.

OC Lures Professionals in More Ways Than One

Chance for Independence, Creativity Part of Appeal

Sunny winters aren’t the only draw for financial industry professionals to move to Orange County from Wall Street and other finance centers on the East Coast.

Cresa, Travers in Deal to Combine OC Operations

REAL ESTATE: Tenant-rep brokerages ‘share same DNA’

Orange County’s two largest commercial real estate brokerages that solely represent tenants in lease negotiations are combining forces.

Montage Bets $100M on Boutique Trend

HOSPITALITY: Hotel in Gaslamp district of SD won’t carry resort name

Irvine-based Montage Hotels & Resorts is breaking new ground in more ways than one.

Miami Beach, New Orleans … and Irvine

REAL ESTATE: City part of push for Marriott’s Euro-style boutique

AC Hotels by Marriott, a European-style boutique hotel brand, will include Irvine in the first wave of a development push in the U.S.

OC-India Connection’s 2-Way Street

Financial Services Here Look for Roles on Both Ends of Deals

A number of financial services firms in Orange County are setting themselves up as conduits for deals in India, drawn by the country’s growing upper and middle classes, a raft of highly educated workers, and a number of industries that offer potential for cross-border links.

India Link

Émigré Population Prominent Beyond Size in OC’s Community of Business

Orange County’s Indian-American community is nearly as diverse as its homeland, where myriad languages flourish in the crowded cities and secluded villages spread across the Asian subcontinent.

Boot Barn Holdings Gives IPO Details

Irvine-based Boot Barn Holdings Inc. has announced details of its initial public offering, including the number and price of shares to be sold.

Kia Hires Multicultural Ad Shop

Kia Motors America has hired a Chicago-based advertising agency to help drive its “U.S. multicultural communication strategy as well as diversity and inclusion efforts internally and externally.”

Netlist Loses More Board Members as It Struggles

Disagreements Spur Two To Exit, Board Down to 3

The recent resignation of two board members at Irvine-based Netlist Inc. is the latest setback for the struggling computer memory products maker.

Real Estate Deals

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

Laguna Hills-based real estate investment firm Silverado Canyon Partners sold Fairway Villas, an apartment property in Newport Beach, for $10.8 million to a private Orange County-based real estate investor.

OCBJ Calendar

Oct. 27-November 5, 2014; Nov. 19

This week's business and other event listings.

Irvine Renewable-Energy Firm Eyes $270M Loan From China Ex-Im Bank

The Export-Import Bank of China last week signed a letter of intent to provide a $270 million loan to Irvine-based BlueFire Renewables Inc.

Friday, October 24

El-Erian Backs Costa Mesa Startup

Mohamed El-Erian, former chief executive of Pacific Investment Management Co., has joined Costa Mesa-based startup Payoff Inc. as an investor and board member.

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Midday Stock Roundup

The S&P 500 rose 0.33% to 1,957.24 in midday trading.

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Kareo Raises $15M

Irvine-based Kareo Inc. said today that it received $15 million in mezzanine debt financing, bringing its total capital raised this year to $47 million.

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Pac Merc Narrows Q3 Loss

Costa Mesa-based Pacific Mercantile Bancorp narrowed its third-quarter loss to $693,000, versus a loss of $1.4 million in the same quarter a year earlier.

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Thursday, October 23

Edwards Beats Estimates

Irvine-based Edwards Lifesciences Corp. after markets closed Thursday posted third-quarter financial results that exceeded expectations, and the stock continued to rise on Friday.

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BJ’s Up on Q3

Shares of Huntington Beach-based BJ’s Restaurants Inc. rose sharply after hours Thursday on third-quarter results, and continued to rise in midday trading Friday.

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Ingram Improves Margins

Santa Ana-based Ingram Micro Inc. today reported third-quarter revenue that beat Wall Street expectations and adjusted profits in line with estimates.

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Telogis in Deal with Isuzu Unit in Anaheim

Aliso Viejo-based Telogis Inc. didn’t have to go far to land its latest software deal with a major automaker.

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Irvine Renewables Energy Firm to Get $270M Loan from China

The Export-Import Bank of China has signed a letter of intent to provide a loan of up to $270 million to BlueFire Renewables Inc., an Irvine-based renewable fuels company.

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UCI Shares in $8M Stem Cell Grant

University of California-Irvine announced it will conduct clinical trials for stem cell treatment in partnership with University of California-Los Angeles under an $8 million grant.

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Midday Stock Roundup

The S&P 500 rose 1.6% to 1,957.95.

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First Foundation to List on Nasdaq

Shares of Irvine-based First Foundation Inc. will start trading on the Nasdaq exchange next month.

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JWA Passenger Counts Up

John Wayne Airport reported a 4.3% increase in its number of passengers in September compared with the same month last year.

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RSM Pizza Chain Expands in California

Rancho Santa Margarita-based Pieology Pizzeria plans seven new locations in Northern and Central California by the end of 2014.

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Wednesday, October 22

Mazda New SXSW Sponsor

Mazda North American Operations has signed on as the official automobile sponsor of the South by Southwest Music Conference and Festival in Austin, Texas for the next three years.

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Quarterly Profit Up for CalFirst Bancorp

Irvine-based California First National Bancorp reported net income of $2.5 million in the September quarter, an increase of about 34% from the same time a year earlier.

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Acacia Up on Strong Q3

Shares of Acacia Research Corp. surged in afterhours trading yesterday and stayed strong Thursday after the Newport Beach-based company reported revenue and adjusted profits in the third quarter that were well beyond Wall Street expectations.

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Broadcom Reports Better-Than-Expected Quarter

Irvine-based chipmaker Broadcom Corp. after markets close yesterday reported third-quarter revenue and adjusted profits that beat Wall Street expectations.

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Midday Stock Roundup

The S&P 500 declined 0.29% to 1,935.71.

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Pacific Premier Acquires Independence Bank

Irvine-based Pacific Premier Bancorp Inc. has agreed to pay $71.5 million to acquire Independence Bank in Newport Beach.

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Kia Hires Multicultural Ad Shop

Kia Motors America has hired a Chicago-based advertising agency to help drive its “U.S. multicultural communication strategy as well as diversity and inclusion efforts internally and externally.”

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Tuesday, October 21

Kia Hires Multicultural Ad Shop

Kia Motors America has hired a Chicago-based advertising agency to help drive its “U.S. multicultural communication strategy as well as diversity and inclusion efforts internally and externally.”

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Plaza Bank Q3 Profit Dips on Lower Noninterest Income

Irvine-based Plaza Bank reported $1.4 million in net income for the third quarter, down about 2% from the same time a year ago.

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Another Double-Digit Sales Gain for Vans

Vans Inc.’s revenue rose 12% in the third quarter, a 20th consecutive reporting period with double-digit gains for the Cypress-based unit of VF Corp. in Greensboro, N.C.

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Broadcom Reports Better-Than-Expected Quarter

Irvine-based chipmaker Broadcom Corp. today reported third-quarter revenue and adjusted profits that beat Wall Street expectations.

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Midday Stock Roundup

Major stock indices were up at midday following strong quarterly reports from tech companies.

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Monday, October 20

Kaiser Aluminum Misses Profit, Revenue Estimates

Shares of Kaiser Aluminum Corp. fell 8.8% to about $68.5 and a market cap of about $1.31 billion in after-hours trading Monday as the Foothill Ranch maker of semi-fabricated aluminum products posted $15.9 million in earnings for the third quarter, good for 85 cent a share.

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Four OC Schools in Great Park Solar Project

Two universities and two community colleges in Orange County are working together on next year’s entry for the Solar Decathlon at the Orange County Great Park in Irvine.

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Recalls for Mazda, Mitsubishi

Some 18,000 Mazda vehicles are the subject of a National Highway Traffic Safety Administration advisory that urges owners to “act immediately on recall notices” on defective airbags made by Takata Corp.

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Boot Barn Gives IPO Details

Irvine-based Boot Barn Holdings Inc. has announced details of its initial public offering, including the number and price of shares to be sold.

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Miller-Phipps to Kaiser’s Georgia Plan

Kaiser Permanente said Friday that Julie Miller-Phipps, vice president and executive director of Kaiser Foundation Hospitals and Health Plan in Orange County, was named president of Kaiser Foundation Health Plan of Georgia.

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Midday Stock Roundup

The S&P 500 rose 0.52% to 1,896.55.

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New Medical Group Lands Next to CHOC, St. Joseph

24,000-SF Lease Near Top For Medical Offices in ’14

A new medical practice specializing in spine and sports medicine has signed a big lease in an Orange office next to St. Joseph Hospital and Children’s Hospital of Orange County.

Edwards Lifesciences’ Pipeline Cited on Upgrade

Plus Good Clinical Trial News, Valve’s US Release

Irvine-based heart valve maker Edwards Lifesciences Corp.’s pipeline and positive second-quarter news recently landed it an upgrade from Chicago-based Zacks Investment Research to a “buy” ranking.

Creative Designs in Mind for Anaheim, Irvine Sites

REAL ESTATE: $10M redo for offices next to Angel Stadium

Tenant demand for creative-office space in Orange County is about to get its biggest test yet at an office complex across the street from Angel Stadium of Anaheim.

Irvine Ad Tech Firm to Combine With Kitara

Future Ads LLC, an Irvine-based advertising technology company, will combine with Jersey City, N.J.-based Kitara Media Corp., which focuses on video advertising. The transaction is expected to close by Dec. 31.

High-Rise Costa Mesa Projects Knocked Down a Notch

REAL ESTATE: Planned Costa Mesa towers to become rentals

High-rise condominium plans in Costa Mesa’s ritzy restaurant, shopping and arts center are coming back down to earth.

REIT Spends $59 Million on Properties

Irvine-based Sabra Healthcare REIT Inc. said it bought eight properties in three states for $59.1 million.

OCBJ Calendar

Oct. 20-28, 2014

This week's business and other event listings.

Oakley Takes to the Powder in New Feature Film

Major Snowboarders Tell Their Stories

Oakley Inc. followed some of the biggest names in snowboarding—Shaun White, Mark McMorris, Ståle Sandbech, Jake Blauvelt and Nicolas Müller—down the slopes in Finland, British Columbia, Norway and Japan to produce “Snowboarding: For Me.”

Microinvestment App Debuts on Android Devices

Acorns’ Product Follows 60,000 iOS Downloads

Newport Beach startup Acorns, established by OC investment banking pioneer Walter Cruttenden and his son Jeff, has launched an Android app in its efforts to bring microinvesting to the masses.

UCI’s Deep Bench; Evan in Snyc?; Ask Ellermeyer

The search is on for a new executive vice chancellor and provost at UCI—a job that’s about on par with a COO’s post in the business world, while the chancellor of the school functions more like a CEO.

Real Estate Deals

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

Terra Enterprises Inc. sold the Birch Corporate Center in Brea to SOC Resources Inc. for $10.1 million.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 42

The Wet Seal Inc. said it will cut 78 filled and open positions, including 66 at its Foothill Ranch corporate office, a 24% decrease, and 12 at the store management level, a 20% drop.

Yard House Chooses Interim Chief Exec

Darden Restaurants Inc., the parent company of Irvine-based Yard House USA Inc., named President and Chief Operating Officer Gene Lee Yard House’s interim chief executive.

Irvine Startup Links With Big Players for Growth

TECHNOLOGY: Device headed for Finish Line stores

Irvine-based startup Pear Sports LLC has signed a deal with Finish Line Inc. to distribute its wearable device in the Indianapolis-based company’s growing line of specialty running stores.

Entrepreneur Crafts Encore

AEROSPACE: Positions second company for $100 million in sales

James Downey is replicating the business model that made him one of Orange County’s wealthiest executives.

Allergan Takeover Rhetoric Intensifies Amid Skepticism

HEALTHCARE: Ackman goes on offensive, questions continue

Irvine-based Allergan Inc.’s long-running battle to stay independent marches on as hostile pursuer rhetoric heats up and many analysts express doubt about the deal going through.

Lifestyle Healthcare Company Grows, Rumored for IPO

HEALTHCARE: Alphaeon closes in on nine figures

Irvine-based Alphaeon Corp.’s focus on “lifestyle healthcare” is pushing the company close to nine figures in revenue and positioning it for a potential initial public offering.

Low-Rise Market Has Strong Second Quarter

Activity in Orange County’s low-rise office sector continued its positive momentum in the second quarter, generating 166,503 square feet of positive net absorption. That brought the year-to-date net absorption total to 162,554 square feet.

$1.3M to UCI for Lung Treatment Work

Four University of California-Irvine materials science and engineering researchers will receive $1.3 million from the National Science Foundation for work that could be used to develop lung disease treatments.

Register Head Shares Early Plans

Register Head Shares Early Plans

Richard Mirman, three days on the job as interim publisher and chief executive of the Orange County Register and Freedom Communications Holdings Inc.’s other publications, counted the perks his new role has to offer.

Retooled Mitsubishi Message

AUTOMOTIVE: Once figured for exit, increases sales 29.8%

Mitsubishi Motors North America Inc., despite a slim model lineup, is out to prove all the doubting Thomases wrong.

Manufacturers That Survived Storm on Path of Growth

Expanding Local Plants, Adding Training Facilities

Manufacturing in Orange County is in growth mode, with many local companies—those that have weathered the recession and managed to notch consistent business gains—making investments in facility expansions and upgrading their training resources.

Airport Plots Out Bigger Travel Plans

TRANSPORTATION: JWA aims for more passengers, Mexico service

John Wayne Airport plans to reintroduce incentives for an airline to offer new routes to Mexico as part of its 2015 flight plan, which also includes more passengers and 15 additional flights by Southwest Airlines.

Companies Look to New Generation for Future

Recovery Growth, Offshore Jobs Return, Spur Hunt

Manufacturing companies and industry organizations are aggressively searching for young talent, with schools and businesses coming together to showcase advanced technologies and provide opportunities for hands-on work experience.

Irvine For-Profit College Marks Year of Expansion

EDUCATION: Equipment, new programs at Stanbridge

Stanbridge College added an associate of veterinary technology program this year, and President and Chief Executive Yasith Weerasuriya showed a recent visitor the cat cadavers to prove it.

Historic Laguna Home Once Hosted Hollywood Elite

Agent Says Fewer Modern Features Offset by Assets

The historic mansion perched high above a private cove in Laguna Beach at 2592 Coast Highway is reminiscent of an old-time movie setting with its dramatic location overlooking the ocean.

Quiksilver Cofounder Mulls His, Company’s Future

APPAREL: Board names new execs as it aims for turnaround

Robert McKnight Jr., co-founder of Quiksilver Inc., is leaving his post as the company’s executive chairman at the end of the month as the Huntington Beach-based action sports apparel and footwear manufacturer struggles with reduced quarterly revenues.

Friday, October 17

Miller-Phipps to Kaiser’s Georgia Plan

Kaiser Permanente said today that Julie Miller-Phipps, vice president and executive director of Kaiser Foundation Hospitals and Health Plan in Orange County, was named president of Kaiser Foundation Health Plan of Georgia.

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Allergan Laying Off 40 in Carlsbad

Irvine-based drug maker Allergan Inc. filed papers with state officials saying it will lay off 40 workers in Carlsbad, effective Nov. 28, according to a Worker Adjustment and Retraining Notification notice filed with the state Employment Development Department.

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Midday Stock Roundup

Stocks surged in midday trading on earnings reports and as a global sell-off abated.

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OC Adds 12,100 Jobs, Unemployment Falls

Orange County employers added 12,100 jobs in September, helping bring down the unemployment rate to 5.1%.

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Corinthian Gets Debt Relief, Sells Unit

Santa Ana-based Corinthian Colleges Inc. and its lenders agreed to a forbearance on certain elements of the company’s debt, according to an SEC filing by the company yesterday.

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Thursday, October 16

QLogic Beats Quarterly Estimates

QLogic Corp. after the close of trading Thursday reported revenue and adjusted profits in the September quarter that beat Wall Street expectations.

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Midday Stock Roundup

Stock indices recovered slightly in midday trading on positive jobs data.

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Habit Files for $86M IPO

Habit Restaurants LLC in Irvine filed for an initial public offering valued around $86 million, according to reports.

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VC Funding Drops in Q3

Venture capital deal flow slowed in Orange County in the third quarter.

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Wednesday, October 15

UCI Gets $1.3M for Lung Device Work

Four University of California-Irvine materials science and engineering researchers will receive $1.3 million from the National Science Foundation for work that could be used to develop lung disease treatments.

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Kia Signs LeBron James as New Brand Ambassador

Kia Motors America selected Cleveland Cavaliers’ forward LeBron James as its K900 Luxury Ambassador.

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Fountain Valley App Maker Sells Division

Fountain Valley-based startup MEDL Mobile Holdings Inc. has agreed to sell its custom development division to BBK Holdings in Massachusetts.

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Hoag Invests in Surgery Center

Hoag Memorial Hospital Presbyterian said it’s invested an undisclosed amount of money in the Newport Bay Surgery Center in Newport Beach.

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Sabra Spends $59.1M for Properties

Sabra Healthcare REIT Inc., which is based in Irvine, said today that it bought eight properties in three states for $59.1 million.

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Midday Stock Roundup

Major stock indices were down sharply in midday trading on banks reporting lower earnings, a second health worker in Texas found to have the Ebola virus, and on concerns over Greek bond debt.

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Tuesday, October 14

Quiksilver Names New Leaders

Quiksilver Inc. said Chief Executive Andy Mooney will take over as chairman of its board directors after Executive Chairman Robert McKnight Jr. and Charles S. Exon, chief legal officer and secretary of the board, retire on Oct. 31.

Wet Seal to Cut Workforce

The Wet Seal Inc. said it’s “begun the initial steps” to reduce its overall cost structure.

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NB Council to Vote on Airport Deal

The Newport Beach City Council is set tonight to vote on a new amendment to an agreement that governs operations at John Wayne Airport.

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Yard House Parent Names Interim Chief

Irvine-based Yard House USA Inc. parent company Darden Restaurants Inc. named President and Chief Operating Officer Gene Lee its interim chief executive.

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Midday Stock Roundup

The S&P 500 rose 0.60% to 1,885.90 in midday trading.

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Monday, October 13

Freedom Appoints New Publisher for OC Register

Freedom Communications Holdings Inc. in Santa Ana named Richard Mirman interim publisher and chief executive of the Orange County Register, the Press-Enterprise and its other community newspapers, magazines and websites, the company reported Monday.

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OC Register Gets New Publisher

Freedom Communications Holdings Inc. in Santa Ana named Richard Mirman interim publisher and chief executive of the Orange County Register, the Press-Enterprise and its other community newspapers, magazines and websites, the company reported Monday.

Island Hotel Opens Foodie Space

The Island Hotel Newport Beach plans to open Market Place, its retail craft food and drink offering inside the hotel, this week.

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NB Firms Partner on Golf

Preferred Hotel Group and Private Club Marketing will work together on a new program to increase hotel nights, golf course play and private club membership satisfaction for the two companies’ clients.

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Alphaeon Buys Utah Software Co.

Irvine-based Alphaeon Corp. has bought the worldwide licensing rights to TouchMD, a line of software for doctors, for $22 million.

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Irvine Ad Tech Firm Merges

Future Ads LLC, an Irvine-based advertising technology company, said it will merge with Jersey City, N.J.-based Kitara Media Corp., which focuses on video advertising.

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JWA Aims for 10M Fliers in 2015

John Wayne Airport expects just less than 10 million air passengers next year—an 8.7% increase over the expected 9.2 million this year, the airport said.

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Ensign Adds Nine SD Area Facilities

Mission Viejo-based Ensign Group Inc. said today that it will buy nine skilled nursing and assisted living facilities, a home health agency, and a private home-care business in the San Diego area from El Cajon-based Shea Family Care.

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Freedom Communications Lists Santa Ana Land for Sale

The owners of the Orange County Register have relisted for sale 14.3 acres of land that surrounds the company’s headquarters in Santa Ana.

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Midday Stock Roundup

The S&P 500 rose 0.02% to 1,906.55 in midday trading.

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MBA Programs Combine To Post 11% Decrease

Trend Comes With Economic Recovery

Enrollment in master of business administration programs serving Orange County fell 11% over the past year while the number of graduations was up at some schools.

OCBJ Calendar

Oct. 13-21, 2014

This week's business and other event listings.

Freedom Relists Land Around HQ

The owners of the Orange County Register have relisted for sale 14.3 acres of land that surrounds the company’s headquarters in Santa Ana.

Animal Crackers, ‘Sexy’ Shoes Top Leases for Quarter

Industrial Rents Projected To Rise 8.7% Next Year

D. F. Stauffer Biscuit Co., a York, Penn.-based maker of cookies and crackers, has signed a new deal for its bakery facility in Santa Ana in the largest reported industrial lease of the past quarter.

Western Digital Loses Trade Secrets Case

Irvine-based storage products maker Western Digital Corp. was ordered to pay its chief rival $758 million related to a bevy of trade-secrets claims.

Real Estate Deals

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

A limited liability company sold the Western Avenue Cottages apartment complex in Buena Park for $1.6 million to an exchange buyer.

Virtual Reality Check

OC Emerges as Hub

One minute you’re on stage with Coldplay.

FivePoint Increases Stake in Great Park

REAL ESTATE: Buys out early investor as next phase of project nears

The developer of the Great Park Neighborhoods in Irvine is increasing its ownership stake in the massive project at the former El Toro Marine Corps air station, where a new batch of residential, commercial and park construction is about to begin.

Software Company Raises $60 Million

Irvine-based Alteryx Inc., a fast-growing data analytics software company, raised $60 million in a venture round.

OC Exec a Key to NBA’s Ambitions for India

SPORTS: Apparel entrepreneur now partner in Sacramento franchise

Raj Bhathal is a key player in the NBA’s bid to extend its brand to his native India.

Mitsubishi Motors Commits to Latino Ad Campaign

MARKETING: Grupo Gallegos tapped for return to ethnic niche

Cypress-based Mitsubishi Motors North America Inc. has tapped an advertising agency in Huntington Beach for a national campaign aimed at Latino-Americans, the automaker’s first bid to target the fast-growing ethnic niche since 2004.

Kaiser Permanente and Human Options: Together We’re Part of the Solution to End Domestic Violence

Did you know that one in four women and one in fourteen men will experience physical domestic violence in their lifetime according to the Institute of Medicine?

Higher Ed Nonprofit Efforts Span County, Globe

EDUCATION: Research, Charity, Social Change Programs Up

Some of the smaller colleges and universities in Orange County are increasing nonprofit work, ranging from research and study—already within the scope of a school—to local charitable efforts and global social change.

Innocean’s Little-Picture Mentality Pays Off Big

ADVERTISING: Agency made for Hyundai lands NRG account

Innocean USA is diversifying its client portfolio by following a simple motto: “Think big but act small.”

Healthcare Behind Another Big Move in Mission Viejo

REAL ESTATE: 4-story office planned next to Mission Hospital

A four-story medical office development is being planned for a spot across the street from Mission Hospital in Mission Viejo in the latest big real estate deal involving property next to the St. Joseph Health-run facility.

Colleges Increasingly Engage Companies on Business

Research Meets Real Life In Industry Applications

The ivory tower is lowering the drawbridge as Orange County’s college campuses more directly connect their research and education efforts with business concerns.

Allergan’s Obvious Reply: Gross X 2; Gilyard’s A List

Would-be raiders Valeant Pharmaceuticals and Bill Ackman appear to be running out of room for their argument that Allergan CEO David Pyott and his fellow board members overlook shareholders as they fight the hostile bid for the Irvine-based drug maker.

Kilroy Sells Off Spectrum Office

REAL ESTATE: Swift on lookout for more deals in SoCal

Kilroy Realty Corp. has sold one of its few remaining office buildings in Orange County to a San Francisco-based real estate investor that’s looking to expand its holdings in Southern California.

Gross Pushes ‘Small, Flexible’ as Calling Card at Janus

FINANCE: First comments in public focus on new nimble

Bill Gross chose to field two questions out of nearly 200 in his first public comments as part of Janus Capital Group Inc.—and his answers to both emphasized his contention that “small and flexible” is good for an investment management firm.

OC Law Schools Up ABA Ante, Raise Bar on Skills

Further Integrate ‘Practice Ready’ Trend in Training

The “practice-ready” trend in law schools that began taking shape locally last year heated up this summer when the American Bar Association House of Delegates revised its Standard 303 to increase the number of credit hours.

Anido Stays Busy in NB for New Jersey Drug Company

Eye-Device Exec Leads Aerie Financing Move

Longtime Orange County eye device executive Vicente Anido Jr.’s marching on with a new company.

MemorialCare, Anthem Create Reform-Age Network

HEALTHCARE: Joins insurer with 7 hospitals, health systems

Orange County’s hospital market is continuing its move toward networks and partnering in the age of healthcare reform.

Kia Motors Puts Sedona in Sexy Light With New Ads

Campaign Aims Vehicle At Older Millennial Parents

"It’s not a minivan. It’s a Sedona.”

MemorialCare Acquires Imaging Centers

Fountain Valley-based MemorialCare Health System said its MemorialCare Medical Foundation is now the sole owner of eight imaging centers in Orange County and Long Beach (see related story on page 4).

Manufacturing and Warehouse Vacancies Remain Tight in Q2

The South Orange County office market performed well in the second quarter, recording 152,559 square feet of positive net absorption.

Laguna Niguel Reseller On Pace to Double Revenue

Arbela Projects 100% Sales Jump, 50 Workers

Laguna Niguel-based consultancy Arbela Technologies is getting strong demand as businesses try to improve efficiency and streamline operations.

PHILANTHROPY

The fourth annual Getzlaf Golf Shootout raised more than $345,000 to benefit CureDuchenne, a nonprofit group that raises awareness and funds research to find a cure for Duchenne muscular dystrophy.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 41

A new federal database shows Irvine-based Allergan Inc. paid doctors and hospitals $24.2 million in the last five months of last year for consulting and speaking fees, meals and travel costs, and grants, the Orange County Register reported (see related item, Insider column, page 3).

College Campuses Craft Commerce

EDUCATION: OC schools aim to breed viable commercial enterprises

Orange County colleges and universities are going beyond education to cultivation.

Friday, October 10

Freedom Communications Lists Santa Ana Land for Sale

The owners of the Orange County Register have relisted for sale 14.3 acres of land that surrounds the company’s headquarters in Santa Ana.

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Midday Stock Roundup

The S&P 500 fell 0.25% to 1,927.48 in midday trading.

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Yard House Parent Replaces Board

Darden Restaurants Inc., the parent company of Irvine-based Yard House USA Inc., said it has named a new board of directors based on preliminary reports of a shareholder vote.

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Wunderman Sheds Southwest, Hires Two

The Irvine office of New York-based advertising agency Wunderman will no longer handle the Southwest Airlines Rapid Rewards account after the end of the year, according to Regional Managing Director Dan Olson.

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Santa Ana Label Maker Sold

Santa Ana-based custom labels maker The Label Co. has been acquired by Resource Label Group in Franklin, Tenn.

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Thursday, October 9

Santa Ana Label Maker Sold

Santa Ana-based custom labels maker The Label Co. has been acquired by Resource Label Group in Franklin, Tenn.

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Allergan Hikes Q3 Expectations

Irvine-based Allergan Inc. said today that it expects to report a third-quarter profit more than 20% higher than previously expected.

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Midday Stock Roundup

Stock indices were down sharply at midday on foreign concerns and lower energy stock prices from a decline in the cost of oil.

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Wednesday, October 8

UCI Gets $8M for Cell Health Work

University of California-Irvine will get $8 million from the National Institutes of Health to study human cellular response and develop disease treatments.

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Johnny Rockets Licenses Retail Food

Aliso Viejo-based Johnny Rockets said it had licensed its name for private label grocery distribution under an effort called Johnny Rockets At Home.

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Midday Stock Roundup

The S&P 500 rose 0.93% to 1,953.06 in midday trading Tuesday.

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WD to Pay $758M to Rival

Irvine-based storage products maker Western Digital Corp. will has been ordered to pay its chief rival $758 million related to a bevy of trade secrets claims.

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Confie in 2 More Deals

Huntington Beach-based Confie Seguros Insurance Services has made two more acquisitions, the latest in a recent string of buys.

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Tuesday, October 7

Valeant to Boost Allergan Bid

Canada-based Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management are planning to hike their hostile bid to buy Irvine-based Allergan Inc. by $15 a share, according to a Wall Street Journal report today.

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Report Says Actavis to Make New Allergan Pitch

Irvine-based Allergan Inc. will be approached again about being bought by Actavis PLC, according to a Reuters report today.

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Midday Stock Roundup

The S&P 500 fell 0.67% to 1,951.68 in midday trading.

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Allergan Asks Court to Block Ackman Share Vote

Irvine-based Allergan Inc. asked a federal court in Santa Ana to block activist investor Bill Ackman and his Pershing Square Capital Management LP from voting its 10% stake at an upcoming special meeting.

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Monday, October 6

$6M for San Clemente Device Maker

San Clemente-based Vertiflex Inc. raised $6 million in funding, according to a filing with the Securities and Exchange Commission.

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MemorialCare Takes Full Ownership of Imaging Centers

Fountain Valley-based MemorialCare Health System said today that its MemorialCare Medical Foundation is now the sole owner of eight imaging centers located in Orange County and Long Beach.

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Irvine Big Data Firm Raises $60M

Irvine-based Alteryx Inc., a fast-growing data analytics software company, has raised $60 million in a venture round.

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Midday Stock Roundup

The S&P 500 fell 0.17% to 1,964.55 in midday trading.

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Pyott Leaves Edwards Board

Allergan Inc. Chief Executive David Pyott has resigned as a director of Edwards Lifesciences Corp.

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South Coast Plaza Puts Southern Charm in Fall Catalog

Shops’ Offerings Pictured in Old South Settings

South Coast Plaza’s Fall Portfolio, featuring Gucci model Nadia Bender, highlights a different sort of south.

Broadcom Chip In Apple Watch?

It appears Irvine-based Broadcom Corp. is primed to supply a key component for the long-awaited Apple Watch.

Unlikely Air Traffic Controller

Edwards’ Weisner Kept Legal Aligned With Business Strategy in $1B+ Medtronic Case

Aimee Weisner was setting the strategy that led to Edwards Lifesciences Corp.’s $1 billion-plus patent lawsuit settlement against rival Medtronic Inc.

OC Insurance Brokers Aim for Middle to Offset Corporate Migration

Credit some of Orange County’s biggest insurance brokers with quick adjustments to shifts in California’s corporate landscape.

Real Estate Deals

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

Gross Hits PR ‘Grand Slam’ With Job Shift

MARKETING: Estimates of boost to Janus brand range upward of $300M

The $1 billion increase in market value that Janus Capital Group Inc. got on news that Bill Gross had joined the company wasn’t the only windfall for the Denver-based fund manager.

CSUF Index: Outlook Inches Up for Q4

ECONOMY: Most OC execs expect revenue gains; 42% plan to add jobs

Orange County company executives started the fourth quarter with improved expectations for overall business activity, according to the latest quarterly index of business sentiments published by the Mihaylo College of Business and Economics at California State University-Fullerton.

Bixby Invests Nearly $100M in Office, Industrial Buys

REAL ESTATE: Deals in SD, Inland Empire, Central Valley

The purchase of four offices in San Diego has capped off nearly $100 million in buys and investments in California properties for Irvine-based Bixby Land Co. over the past quarter.

Home Appliance Brand Gets Creative in Costa Mesa

REAL ESTATE: Moves U.S. HQ From Huntington Beach

The creative-office design trend is making its way to the glitzy buildings next to South Coast Plaza.

Big Numbers Go With Gross

Bill Gross and big numbers go together, as our story on page 1 shows with its estimate on the value of the publicity that came with the Bond King’s jump from Pimco to Janus Capital topping $300 million.

Insurance Brokers Notch 8.6% Revenue Jump in 2013

Firms Benefit From Brighter Economy’s Boost to Clients

Orange County’s top insurance brokers picked up the pace in growing their revenues last year, benefiting in part from a generally improved economy that helped boost business prospects for their clients.

Q & A

The Business Journal’s Jane Yu asked local insurance brokerage executives to discuss their concerns about recruiting and developing talent at their firms, especially considering the anticipated retirement of baby boomers and the increasing roles of Millennials—people born roughly between 1980 and 2000— in the workplace. The executives talked of the challenges they’re encountering and the various investments they’re making to draw and nurture talent. Here are their edited responses:

Broadcom Connectivity Chip in New Apple iPhones

Could Come to $850M in Annual Revenue

Consider Irvine-based chipmaker Broadcom Corp. a winner when it comes to Apple Inc.’s latest smartphone models.

Flooring Distributor Inks 1st Anaheim Concourse Lease

Longust to Move From Nearby, Takes 93,818 SF

Longust Distributing Inc., a wholesale flooring supplier that’s had an Anaheim location since 2001, is the first company to announce a lease at the new batch of industrial buildings being constructed at Panattoni Development Co.’s massive Anaheim Concourse project.

Manufacturing and Warehouse Vacancies Remain Tight in Q2

The vacancy rate in the manufacturing and warehouse sector has been on a downward trend over the past 12 months, decreasing from 2.5% in the first quarter to 2.4% at the end of the second.

Abbott Ups Overseas Presence With Malaysia Plant

Device Maker Puts $60M Into Venture to Hire 500

Abbott Laboratories, the parent of Santa Ana-based Abbott Medical Optics, is spending $60 million on an intraocular lens plant in Malaysia.

Irvine Cove, Emerald Bay Warm Up Coastal Market

Slow Streak Over as 2 Sales Top $10 Million

The communities of Emerald Bay and Irvine Cove in Laguna Beach capture the character and charm of the California Riviera and command some of the highest sale prices for homes in Orange County.

OCers Make Forbes’ Wealthy List

Nine members of the Business Journal’s annual OC’s Wealthiest list were included in the recent Forbes 400 list, which ranks and profiles the wealthiest Americans by estimated net worth.

Upscale Dining Weekend, New Eateries on OC’s Plate

Famed Italian Chef Stars At Festival This Weekend

There’s a very special event happening at the end of this week.

CoreLogic’s Patent Play

Tabaddor Took Reins of IP, Turned Department Into Profit Center

Moving from defense to offense has paid dividends for the intellectual property legal team at Irvine-based CoreLogic Inc.

Tilly’s One-Man Legal Shop

Work at O’Melveny, Other Companies, Prepared Him for Role

A glance at Christopher Lal’s appointment book for a recent Monday shows a man who has his hands in many pots at Irvine-based Tilly’s Inc.

Riding a Roller Coaster Career

Palace Entertainment GC Expects the Unexpected

Michael Baroni’s legal career has been like a roller coaster, with twists and turns and unexpected outcomes.

The Art of Protecting Drug Patents

Allergan GC Takes Team Approach for Near-Perfect Case Record

William Scarff Jr. concentrates on protecting the driving force in the drug industry: patents on major medications.

OCBJ Calendar

Oct. 6-15, 2014

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 40

Steven Benrubi resigned from his post as Wet Seal Inc.’s executive vice president and chief financial officer, the company announced in regulatory filings. Benrubi, who has been with the Foothill Ranch-based company since 2005, will stay on until Dec. 1.

Friday, October 3

Pyott Leaves Edwards Board

Allergan Inc. Chief Executive David Pyott has resigned as a director of Edwards Lifesciences Corp.

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Midday Stock Roundup

Stock indices were up strongly at midday on a positive jobs report.

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Thursday, October 2

Wet Seal CFO Steps Down

Steven Benrubi has resigned from his post as Wet Seal Inc.’s executive vice president and chief financial officer, the company announced in its regulatory filings Thursday

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Confie Buys 3 Brokerages

Huntington Beach-based Confie Seguros Insurance Services has acquired three brokerages, all on undisclosed terms.

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Irvine Commercial RE Lender in Sale to Walker & Dunlop

Johnson Capital, an Irvine-based commercial property mortgage lender, has sold its loan origination and servicing platform to Walker & Dunlop Inc., a commercial real estate financial services company in Bethesda, Md.

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CVB Boss Bets on Angels

Jay Burress has a lot riding on the American League Division Series between the Los Angeles Angels of Anaheim and the Kansas City Royals.

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Midday Stock Roundup

The S&P 500 fell 0.1% to 1,933.31 in midday trading.

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New CEO for Pimco Parent

Pacific Investment Management Co. parent Allianz SE announced plans to replaced its chief executive in the first half of next year.

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Wednesday, October 1

Jury Orders $467M Patent Award to Masimo

A federal jury said today that Irvine-based Masimo Corp. should receive $467 million from Philips Electronics NA, a unit of Netherlands-based Royal Philips Electronics NV, for having infringed a pair of patents covering technology for measuring blood oxygen and tracking pulse rates.

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UCI Law Dean Gets Medal

University of California-Irvine School of Law Dean Erwin Chemerinsky has received the 2014 Bernard E. Witkin Medal, the school said.

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Two OC Automakers Beat National Sales Numbers

Two of the four Orange County-based automakers beat the industry in September, according to Autodata Corp.

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Disneyland-Area Hotel Names New Manager

The Courtyard by Marriott Anaheim at Disneyland Resort will be managed by Crestline Hotels & Resorts LLC in Fairfax, Va.

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Irvine Bank Scores Ducks Deal

Pacific Premier Bank in Irvine said it became the official business bank of the Anaheim Ducks professional hockey team and Honda Center in Anaheim.

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Midday Stock Roundup

The S&P 500 fell 1.2% to 1,949.17 in midday trading.

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JWA Amendment Gets Supervisors’ Nod

Orange County Supervisors unanimously approved an amendment that will allow John Wayne Airport to increase the number of passengers it can handle to as many as 12.5 million a year by 2026.

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