Stories for September 2014

Tuesday, September 30

Gross to Open Janus Office at 520 Newport Center Tower

Bill Gross will be setting up shop for Janus Capital Group Inc. at the 520 Newport Center office tower in Newport Beach, according to real estate sources.

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Midday Stock Roundup

The S&P 500 fell 0.3% to 1,972.55 in midday trading.

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9 OCers Make Forbes 400 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.

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Boot Barn Files $86M IPO

Irvine-based Boot Barn Holdings filed for an initial public offering to raise up to $86.3 million, according to reports.

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Ingredients Developer Gets $5M Debt Funding

ChromaDex Corp., an Irvine-based maker of ingredients for dietary supplements, has closed a $5 million venture debt financing from Hercules Technology Growth Capital Inc.

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Monday, September 29

Costa Mesa Chipmaker Seeks BK

Costa Mesa-based chipmaker ISC8 Inc. has filed for Chapter 11 bankruptcy protection.

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Midday Stock Roundup

The S&P 500 fell 0.42% to 1,974.59 in midday trading.

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Allergan Gets New FDA Nod on Eye Drug

Irvine-based drug maker Allergan Inc. said the U.S. Food and Drug Administration approved its Ozurdex 0.7 mg biodegradable steroid implant for general use in treating diabetic macular edema.

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Ensign Buys in Arizona

Mission Viejo-based Ensign Group Inc. bought an assisted living facility in Tucson, Ariz., the company said.

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Yokohama Tire Takes 57,624 SF in Santa Ana

REAL ESTATE: Distribution hub shifts from Fullerton to IE

Yokohama Tire Corp. has signed a deal to move its U.S. headquarters to Santa Ana in a shift that comes a few months after the company sold its longtime home in Fullerton.

Focus on Wireless Networks Looks Like Good Call

Rome & Associates Built On Telecommunications Work

Jeffrey Rome never thought when he got his degree in architecture that he’d spend most of his time designing wireless networks. Now, some 24 years later, 90% of billings at his Jeffrey Rome & Associates Inc. firm come from projects for major telecommunications companies such as AT&T, Crown Castle International Corp. and Verizon.

Kelley Blue Book Markets New Product: Itself

AUTOMOTIVE: Car info firm hires first PR agency of record

Kelley Blue Book Co., in search of new audiences, has hired M Booth in New York as its first public relations agency of record.

Anton & Chia in San Diego on Latest Buy

Newport Beach-based accounting firm Anton & Chia LLP has acquired W. Michael Corson & Co. in San Diego on undisclosed terms, its second buy in recent months.

Device Maker Raises $25M for Stent

Irvine-based Ivantis Inc. said it raised $25 million in its second round of financing. It said it plans to use the money to support ongoing clinical trials for its Hydrus microstent, which is implanted into the eye to treat glaucoma. Glaucoma is a major cause of blindness around the world.

Report: OC High-Tech Sector Strong, Room to Grow

63,000 Jobs in ‘Sleeper’ Market; No. 13 in US

Orange County’s employment base of about 63,000 high-tech jobs ranked No. 13 in a 34-market report released by Chicago-based JLL.

Sun Sees Rebound on Horizon for Pro Volleyball Circuit

SPORTS: Renews several key sponsors, seeks new TV deal

Donald Sun is facing another big challenge as his second year of running a revived professional beach volleyball tour comes to an end.

Auto Show’s 50th Birthday Gift: Relevance With Car Buyers

MARKETING: Data indicate event’s influence on purchases

The Orange County International Auto Show is set to start Oct. 2 at the Anaheim Convention Center, where organizers will mark the event’s 50th anniversary with something extra to tout: recent research that indicates the show still matters to the tens of thousands of visitors who are potential car buyers.

Fox Head in Irvine Said to Be For Sale

Irvine-based motorcross apparel company Fox Head Inc. is reportedly on the sales block and seeking more than $200 million.

OCBJ Calendar

September 29, 2014

This week's business and other event listings

5 Honored With General Counsel Awards

A crowd of more than 400 members of Orange County’s corporate and legal communities gathered to honor this year’s top in-house lawyers at the Business Journal’s fifth annual General Counsel Awards.

Engineering Firms’ Revenues Drop After 3-Year Jump

39 Bring in $2.8 Billion In OC-Generated Billings

The top engineering firms with headquarters or significant operations in Orange County ended a three-year streak of gains with a 1.5% drop in local billings during the 12-month period ending June 30.

Newport Center in Line for Net Gain on Gross Move

The Insider has no dog in any fight between Bill Gross and whoever—but it now looks clear from this vantage point that a cadre of critics coordinated their condemnations of the cofounder and now ex-boss of Pimco in recent months.

Lehman Lists Stalled SJC Home Development for Sale

Pacifica San Juan Could Fetch $150M or More

Pacifica San Juan, a stalled new home development just off the San Diego (I-5) Freeway in San Juan Capistrano, is on the market for sale and could fetch a big price.

ADDENDUM

Veteran Orange County medical device executive James V. Mazzo was added to a federal grand jury indictment on insider trading charges, the Department of Justice said.

Architecture Firms’ Billings Up, Jobs About Flat

Combine For 1% Jump To $417 Million Locally

Orange County’s architecture firms combined for a 1.6% increase in local billings, modest growth after last year’s 13% surge.

‘Beautiful’ Vizio TV Ads Feature Clipper in New Role

Blake Griffin Waxes Poetic on Ultra HD Models

You can “see the beauty in everything” on Vizio Inc.’s Ultra HD TVs, suggest the new humorous commercials from the Irvine-based technology manufacturer.

PHILANTHROPY

The Orange County chapter of the Alzheimer’s Association partnered with business and philanthropic leaders throughout OC to create the Go Purple OC campaign, a weeklong event that literally turned well-known OC landmarks purple from Sept. 15 through 21.

Retail Market Taps Brakes in Q2, Absorption Still Positive

The Orange County retail market slowed slightly in the second quarter, but there was continued positive net absorption going into the third quarter totaling 345 square feet.

Costa Mesa Circuit Board Maker Could Top Field

TECHNOLOGY: Deal for rival would lift TTM near top of global ranks

Thomas Edman’s first deal at the helm of Costa Mesa-based TTM Technologies Inc. could create the world’s largest printed circuit board maker.

$10M Raised for Water Purity Projects

Irvine-based WaterHealth International Inc. raised $10 million in venture funding from a private equity firm in New York that targets infrastructure projects in developing nations.

KDOC-TV Gets Star Turn Out of Cable Spat

6-Game Windfall Includes Dodgers’ Clincher

KDOC-TV is the sole victor so far in Time Warner Cable Inc.’s ongoing fee dispute with other cable and satellite providers.

Can Valeant Keep It Up?

HEALTHCARE: Bid for Allergan looks light despite last week’s stir

Did Valeant Pharmaceuticals International Inc. make David Pyott’s point last week?

Rebranding Puts Consulting Firm on Path of Growth

Says Unique Identity Makes It Stand Out From Crowd

Stantec Consulting Services Inc. was able to put its best foot forward when competing for business this year, thanks to a major rebranding effort initiated by its parent, Stantec Inc. in Edmonton, Canada.

Real Estate Deals

A family trust sold an office building in Orange to JMJ Enterprise LLC for $2.4 million.

$1 Million to Video Game Maker

MEK Entertainment Inc., an independent video game maker in Aliso Viejo established by a former Blizzard Entertainment Inc. programmer, secured $1 million in a seed round.

House Votes Yet Again to Repeal Medical Device Tax

Senate Divided on Levy Meant to Boost Reform

One of the medical device industry’s favorite topics—repealing a federal tax on its companies’ revenues—has resurfaced yet again in Congress.

Register’s New Landlord Eyes More

Envisions 2 Towers Next to Daily’s HQ in Santa Ana

A commercial and residential development with the potential for a couple of high-rise towers could be built on land surrounding the Santa Ana headquarters of the Orange County Register, according to the high-profile building’s new owner.

Convention Center’s Summer Sleeper Hit: VidCon

YouTube Stars Put Annual Show on Fast Track

The once-a-year event that brings YouTube stars under one roof with their screaming fans is set to return to Anaheim.

Friday, September 26

Midday Stock Roundup

The S&P 500 rose 0.38% to 1,973.39 in midday trading.

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Gross to Janus, Will Stay in Newport Beach

Bill Gross, founder and chief investment officer of Pacific Investment Management Co., will leave the Newport Beach-based company to join Janus Capital Group.

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Thursday, September 25

JWA Passengers, Flights Down in August

John Wayne Airport served slightly fewer passengers in August compared to the same period last year on fewer commercial flights.

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Midday Stock Roundup

The major indices were down steeply in midday trading.

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Report: Fox Head Looks to Sell

Irvine-based motorcross apparel company Fox Head Inc. is reportedly on the sales block and seeking more than $200 million.

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Water Treatment Specialist Raises $10M

Irvine-based WaterHealth International Inc. has raised $10 million in venture funding from a private equity firm in New York that targets infrastructure projects in developing nations.

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Mazzo Resigns From Microsemi’s Board

Aliso Viejo-based Microsemi Corp. said that James V. Mazzo has resigned from its board of directors.

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More Johnny Rockets Overseas

Aliso Viejo-based hamburger chain Johnny Rockets Inc. said it plans to open four or five new restaurants in South America by the end of the year and another seven in 2015, adding to the 13 it has there now.

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Wednesday, September 24

Mazzo Added to Insider Trading Indictment

Veteran Orange County medical device executive James V. Mazzo was added to a federal grand jury indictment on insider trading charges, the Department of Justice said today.

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Midday Stock Roundup

The S&P 500 rose 0.47% to 1,992.16 in midday trading.

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Valeant Previews Q3, Changes Tone on Allergan

Canada-based Valeant Pharmaceuticals International Inc., which is attempting a hostile takeover of Irvine-based Allergan Inc., got a lift in early trading today after it released a preview of its results for the current quarter.

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5 Honored With General Counsel Awards

A crowd of more than 400 members of Orange County's corporate and legal communities gathered to honor this year’s top in-house lawyers at the Orange County Business Journal's 5th annual General Counsel Awards.

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Tuesday, September 23

Avanir Selling $200 Million in Stock

Aliso Viejo-based Avanir Pharmaceuticals Inc. is offering $200 million of its shares to the general public.

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Irvine Glaucoma Device Startup Raises $25 Million

Irvine-based Ivantis Inc. said today that it raised $25 million in its second round of financing.

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Del Taco Plans 28 Southeast Sites

Lake Forest-based Del Taco LLC said it will open 28 new locations in the Southeast United States.

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OC Auto Sales Up 6.2% in August

Orange County auto dealers sold 13,592 vehicles in August, a 6.2% increase from the same period last year, according to Newport Beach-based Orange County Automobile Dealers Association.

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Aliso Video Game Maker Raises $1M

MEK Entertainment Inc., an independent video game maker in Aliso Viejo established by a former Blizzard Entertainment Inc. programmer, has secured $1 million in a seed round.

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Freedom to Shutter LA Register

Santa Ana-based Freedom Communication Inc. will stop publication of the Los Angeles Register, according to a memo from Chief Executive Aaron Kushner and co-owner Eric Spitz to employees last night.

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Midday Stock Roundup

The S&P 500 dipped 0.1% to 1,991.66 in midday trading.

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Ackman Threatens Suit on Allergan Buy

Activist investor Bill Ackman has threatened to sue Allergan Inc. if the Irvine-based drug maker goes ahead with an acquisition of Salix Pharmaceuticals Ltd. in a deal that doesn’t require a vote of Allergan shareholders.

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Monday, September 22

WSJ: Allergan in Advanced Talks for Potential Salix Deal

Irvine-based Allergan Inc. is in advanced talks to buy Salix Pharmaceuticals Ltd. after turning down a buyout offer from Actavis PLC, according to a report today in the Wall Street Journal.

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Midday Stock Roundup

Major stock indices were down in midday trading today.

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TTM Buys Rival

Costa Mesa-based printed circuit board maker TTM Technologies Inc. today announced it will acquire Viasystems Group Inc. in a $927 million deal.

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China-Based Athletic Brand Picks Irvine for U.S. Headquarters

361 Degrees International Ltd., which bills itself as second-largest athletic brand in China, has chosen Irvine for its North American headquarters.

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Growth By Design

Alternative Lender Translates Conditions Into 2,236% Revenue Jump

Growth for Quick Bridge Funding LLC was fast but not too fast.

Wilson’s Twin Waves

Rides Hot Market, Acquisitions Toward $2B in Sales

David Wilson knows a good market when he sees one.

New Types on Tap for Johnny Rockets

RESTAURANTS: Plans push beyond standard restaurants

Johnny Rockets wants to grow its number of U.S. restaurants by tapping new dining trends while maintaining its Americana-themed brand.

View of Allergan as Buyer Revived

HEALTHCARE: Pyott says no rush for deal ahead of Dec. 18 meeting

Potential deals are once again taking center stage as Irvine-based Allergan Inc. continues its fight to keep its independence.

Oracle Tower Outlook Nears $100 Million

REAL ESTATE: 12-story office likely to set benchmark in JWA area

One of the better-known office buildings in the area around John Wayne Airport is up for sale and expected to fetch a price approaching $100 million, according to real estate sources.

Boeing Shifts on Sales of Seal Beach Buildings

MANUFACTURING: Once pegged for cost cuts, now home of new hires

Boeing Co.’s new Seal Beach support center for commercial airline customers reflects a significant change in plans for the Chicago-based aerospace giant’s sprawling real estate holdings along Orange County’s coastline.

Asia Software Deal Opens Lens on Ubiquity Strategy

TECHNOLOGY: First big development for company

A recent software distribution deal struck by an Irvine-based company with barely any sales provides some insight on its $560 million market value.

Conditions Drove Contractor’s Meteoric Trajectory

Driver Urban’s Revenue Jumped 25,402% to $131.3M

Driver Urban had three things working for it in 2012 when it spun off from a large construction company—it entered the marketplace at the right time, at the right price, and with the right expertise.

SJC Buy Caps Off $111M of Deals for Greenlaw

REAL ESTATE: Investor buys office park, sells Orange building

The purchase of a San Juan Capistrano office park and the sale of a prominent government building next to the Outlets at Orange shopping center have capped off a busy few weeks of investment activity for Greenlaw Partners.

Sonendo Lays Out Plans for $35M Round

HEALTHCARE: Plans to build up sales team for initial product

Sonendo Inc. is gearing up to roll out a device it says is an improvement over the traditional way of performing root canal surgeries.

Serial Entrepreneur Went Big With Equipment Rentals

BigRentz.com on 1,268% Growth Spurt to $15M

Starting BigRentz.com was a no-brainer for Chief Executive Dallas Imbimbo.

Little Big List

$4.3B Revenue Increase Spread Over 13 Largest Fast Growers

Far fewer but much bigger. That’s one way to sum up the biggest of the fastest-growing private companies based in Orange County—13 companies that combined for $16.1 billion in revenue, a 37% jump.

Midmarket Movers

73 Companies Combine for $2.2 Billion in Revenue

The 73 fastest-growing private companies in Orange County with revenues between $10 million and $100 million collectively grew their combined top line by 76.1% over the past two years to $2.2 billion.

Double Time

Companies Under $10M Mark on Revenue Combine for 100% Jump

The fastest-growing companies in Orange County with revenues of less than $10 million combined to nearly double their sales over the past two years to $399 million.

Alzheimer’s Effect Boosts Avanir Shares

Aliso Viejo-based Avanir Pharmaceuticals Inc.’s shares rose on positive clinical trial results for a potential Alzheimer’s disease treatment.

Windjammer Sells Portfolio Company

Newport Beach-based buyout firm Windjammer Capital Investors agreed to sell its portfolio company, BBB Industries LLC, to an investment firm in London on disclosed terms.

Palace Entertainment Sells 15 Parks

Newport Beach-based leisure park owner and operator Palace Entertainment Inc. sold 15 of its entertainment center locations to Apex Parks Group in Aliso Viejo on undisclosed terms.

Montage LB Names Managing Director

Irvine-based Montage Hotels & Resorts recently named Rick Riess managing director of Montage Laguna Beach, its flagship resort.

ADDENDUM

361 Degrees International Ltd., which bills itself as the second-largest athletic brand in China, has chosen Irvine for its North American headquarters.

Chinese Investor Buys Fullerton Center

A Chinese real estate investor bought the 163,514-square-foot Amerige Heights Town Center in Fullerton.

IT Firm’s New CEO Sets Sights on $1B in Revenue

TECHNOLOGY: Rides big data, cloud surge for growth

The boom in big data and cloud computing has paved a growth path for Trace3 under new Chief Executive Tyler Beecher, who’s put his own stamp on the company since taking the helm last month.

Transcatheter Heart Valves Dominate TCT Meeting

Edwards’, Medtronic’s Devices Part of Discussion

Transcatheter heart valves, including those by Irvine-based Edwards Lifesciences Corp., took center stage at a large interventional-cardiology meeting this month in Washington, D.C.

OCBJ Calendar

Sept. 22-Oct. 1, 2014

This week's business and other event listings.

New Hyundai Voice Paul Rudd In, Jeff Bridges Out

Company Wanted Name Known By Young Buyers

Hyundai Motor America has replaced actor Jeff Bridges with Paul Rudd as the new voice for its national advertising campaigns.

‘Internet of Things’ Powers Greenwave Hiring Surge

Software, Sensors Allow Devices to Communicate

The burgeoning Internet of Things market has prompted a strong hiring push at Irvine-based smart technology provider Greenwave Systems.

North OC Office Market Slow in Q2, Industrial Healthy

The North Orange County office market’s vacancy rate ended the second quarter at 15.3%, the result of absorption taking a hit at the beginning of the year, fueled mostly by three large move-outs totaling approximately 440,000 square feet.

real estate deals

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

TW Investment Corp. sold the 10-acre Blue Gum Industrial Park in Anaheim for an undisclosed price to TREF3 Anaheim LLC.

Palm Desert Land Eyed for $350M Quiksilver Hotel

Matteson Capital in Talks To Buy City-Owned Land

More details are emerging about one of the first big local hotel developments that will have ties to Huntington Beach-based apparel manufacturer and retailer Quiksilver Inc.

Laguna Boasts Biggest Home Price Tag So Far in 2014

Overall Luxury Sales Still Off 5% From Last Year

Almost 200 $4 million-plus homes sold in Orange County from Jan. 1 through Sept. 1, about a 5% drop overall from the same period last year, according to real estate market aggregator DataQuick.

How GSF Grows; Dumpling Days; Allergan’s Number?

This week’s special issue puts a focus on the fastest-growing private companies based in OC, with 174 entries spread over three lists, and Irvine-based Golden State Foods the largest of the bunch at $6.6 billion in annual sales (see related stories on page 1; Special Report starting on page 21).

Mission Hospital Unveils $185M Specialty Center

HEALTHCARE: Institute offers neuroscience and spine treatment

Mission Hospital has added advanced treatment for neurological and spine conditions to its portfolio of services — something that could help it develop beyond its core market in South Orange County.

How Fast Is $18.7 Billion?

$5.5B Gain in 2 Years for 174 Fastest Growers Based in OC

There’s no shortage of numbers available to put some punch into this week’s coverage of the fastest-growing private companies based in Orange County.

Friday, September 19

China-Based Athletic Brand Picks Irvine for U.S. Headquarters

361 Degrees International Ltd., which bills itself as second-largest athletic brand in China, has chosen Irvine for its North American headquarters.

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Midday Stock Roundup

The S&P 500 fell 0.1% to 2,010.03 in midday trading.

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Register Expected to Close on HQ Sale, Make Severance Payments

A sale of the Santa Ana headquarters of the Orange County Register to developer Mike Harrah is expected to close within a few days, according to sources.

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Unemployment Rate, Jobs Fall

Orange County’s unemployment rate dipped to 5.4% in August despite a decrease of 1,900 jobs over the month.

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Thursday, September 18

Group Pays Off $3.86M Worth of Corinthian Students’ Debt

An offshoot group of the Occupy Wall Street movement paid off $3.86 million in loans owed by 2,761 students of a Corinthian Colleges Inc. school, according to reports.

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Entertainment Parks Operator Sells 15 Locations

Newport Beach-based leisure park owner and operator Palace Entertainment Inc. has sold 15 of its entertainment center locations to Apex Parks Group in Aliso Viejo.

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Montage Names Managing Director

Irvine-based Montage Hotels & Resorts named Rick Riess managing director of its coastal Orange County flagship resort Montage Laguna Beach.

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Autobytel Increases Share Buyback Plan

Autobytel Inc.’s board of directors has approved an additional $1 million common stock repurchase program, increasing the total planned amount to $3 million.

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Irvine Appliance Maker Names New Ad Agency

BSH Home Appliances Corp. selected ELA Advertising as its strategic, creative agency-of-record for its Thermador brand cookware.

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Midday Stock Roundup

The S&P 500 rose 0.4% to 2,009.61 in midday trading.

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Casanova Pendrill Loses Miller Lite

Costa Mesa-based Casanova Pendrill lost the Latino-American portion of the Miller Lite advertising business.

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Wednesday, September 17

Midday Stock Roundup

The major indices were each down slightly in midday trading awaiting Federal Reserve action today.

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Tuesday, September 16

U.S. Agency Sues Corinthian

The Consumer Financial Protection Bureau today sued Santa Ana-based Corinthian Colleges, Inc. and alleged it engaged in “illegal predatory lending.”

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Mission Hospital to Open Neuroscience Institute

Mission Hospital said that it is opening a new $185 million Neuroscience and Spine Institute tomorrow on its main Mission Viejo campus.

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Midday Stock Roundup

The S&P 500 rose 0.82% to 2,000.37 in midday trading.

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Johnny Rockets Launches Smaller Sites

Aliso Viejo-based Johnny Rockets Inc. said it would develop several types of smaller restaurants and work with an outside company to develop some of them, according to reports.

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Monday, September 15

Ad Shop Raises $5.2 Million

Adaptive Medias Inc. raised $5.2 million from two investors by selling 2.13 million shares of its common stock at $2.25 per share.

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Windjammer Sells Auto Parts Maker

Newport Beach-based buyout firm Windjammer Capital Investors has agreed to sell its portfolio company BBB Industries LLC to an investment firm in London.

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Avanir Shares Up on Positive Trial Data

Aliso Viejo-based Avanir Pharmaceuticals Inc.’s shares rose today on positive clinical trial results for a potential Alzheimer’s disease treatment.

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Fullerton Shopping Center Sells for $48.5M

A Chinese real estate investor has bought Amerige Heights Town Center, a 163,514-square-foot retail center in Fullerton.

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Federal Judge Grants Allergan Injunction Hearing Request

Allergan Inc. said today that a federal judge has set an Oct. 28 hearing for a preliminary injunction against hostile suitors Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management LP.

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Allergan to Cut 129 Irvine Jobs

Irvine-based Allergan Inc. has filed papers with state officials saying it will lay off 129 employees.

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Oculus Co-founder Gives $31M

The cofounder and chief executive of Irvine-based Oculus VR Inc. has pledged $31 million to the University of Maryland-College Park to build a new computer science building focused on virtual reality, according to a report.

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RSM Smoothie Seller Plans 58 Locations

Bowl of Heaven plans to add 58 new franchised locations in Orange County, Los Angeles, San Diego, San Francisco and Las Vegas, the company said.

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Midday Stock Roundup

The S&P 500 fell 0.22% to 1,981.24 in midday trading.

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HK Billionaire’s OC Connection

Chan, Brother Head Foundation That Gave $350M to Harvard Last Week

You won’t find mention of Orange County in the ongoing talk of the biggest single donation in Harvard University’s history.

Panattoni’s Progress: Industrial Spec Sells

REAL ESTATE: Sales of 4 buildings will lead to new OC jobs

The first batch of for-sale industrial buildings built at Panattoni Development Co.’s Anaheim Concourse project has been snapped up by a pair of out-of-town manufacturers expanding into Orange County.

AcuFocus Wants to Grow at Home

Device Maker Seeks FDA Approval, Builds US Sales Force

AcuFocus Inc. is banking on a recent cash infusion and a tiny device implanted in the eye to spur big growth.

Apple of Incipio’s Eye

Some 150 Incipio Technologies Inc. employees huddled in the company’s lunchroom last week to watch Apple Inc. announce its newest iPhone models, taking notes and comparing them to what was already leaked online.

OC Medical Device Makers Rank High for New Hires

Edwards, Endologix Among Big Gainers on Consultant List

Irvine-based medical device makers Edwards Lifesciences Corp. and Endologix Inc. are vastly different when it comes to revenue and profit, but they both rank among the top 10 hirers in the medical technology field over the past five years, according to a recently released report.

Chapman-Based Production Co. Ready for Close-Up

MEDIA: In deal for distribution rights; hits road for film festivals

A movie production company based at Chapman University has produced its first full-length feature film and plans to make three more in the next 12 months in an effort to provide profit for investors and proverbial real-world experience for film school alumni and current students.

Brea Land Buy Gives Hines Development Options

$25M Deal Follows $80M Office Purchase in City

Houston-based Hines Interests LP has completed the purchase of land in Brea just off the Orange (57) Freeway where an office complex it recently bought is located.

Greater Airport Area Business Brisk

The Greater Airport Area continued to be the most active submarket in the county in the second quarter, accounting for approximately 733,000 square feet of the county’s net absorption.

Gridiron at Great Park? Ackman’s Jab; Register Rumor

Multiple sources tell the Insider that the Oakland Raiders have recently looked past downtown L.A. and the City of Industry to entertain the possibility of a move to the Great Park.

real estate deals

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

A group of investors sold the Villa de Hacienda multifamily community in Tustin to a private trust for $16.5 million.

Software Maker, New Cash in Hand, Looks to Hire

SecureAuth Gets $10M In New Venture Round

Irvine-based security software maker SecureAuth Corp. is on a hiring spree after securing another $10 million in venture funding.

Vizio Gives Away TVs in Football-Themed Promotion

49er’s Touchdowns Earn Sets for Charities

Vizio Inc. has kicked off the football season with a weekly TV set giveaway that also benefits Boys & Girls Clubs of America.

Biolase Changes Include Nugent as Permanent CEO

Also Creates Nationwide ‘Commercialization Team’

Irvine-based Biolase Inc. is making moves to build its executive and commercialization teams.

OCBJ Calendar

Sept. 15-24, 2014

This week's business and other event listings.

ADDENDUM

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

Costa Mesa-based Pacific Mercantile Bancorp promoted Robert Sjogren to chief operating officer. He will continue serving as general counsel. Sjorgen previously served as chief risk officer and general counsel of Carpenter & Co., an Irvine-based bank advisory firm. Pacific Mercantile is the parent company of Pacific Mercantile Bank, which is among the largest banks with headquarters in Orange County, with about $1 billion in assets as of June 30.

PHILANTHROPY

The Cystinosis Research Foundation awarded more than $1.5 million to eight research programs in California, Texas, Belgium, New Zealand, India, Switzerland, Italy and France to enable scientists to investigate improved treatments and a cure for cystinosis, a rare metabolic genetic disease that affects about 500 children and young adults in the United States and 2,000 worldwide.

UCI Business School Makes List

The University of California-Irvine Paul Merage School of Business ranked No. 39 in the country for the best undergraduate business programs, according to U.S. News and World Report.

LH Device Maker Gets $35M for Work

Laguna Hills-based Sonendo Inc. said it completed a $35 million round of equity financing.

Startup Gets $5M, Partners on VR Headset

A Laguna Beach startup that specializes in virtual reality content has raised $5 million from private investors and entered a partnership with Oculus VR Inc. and Samsung in one of the latest developments to hit technology’s hottest emerging consumer segment.

Ford Exec’s VC Firm Invests in Telogis

Aliso Viejo-based software maker Telogis Inc. secured a strategic investment from a Detroit venture capitalist firm co-founded by William Clay Ford Jr., the executive chairman of Ford Motor Co. and the son of the owner of the Detroit Lions.

Microsemi to Buy Santa Rosa Chipmaker

Aliso Viejo-based Microsemi Corp. announced an agreement to purchase Santa Rosa chipmaker Centellax Inc., which makes high-speed and RF chips and related components for the optical communications and Ethernet data markets.

Plant Factory Racks Up $10M in Orders for Tiny Veggies

AGRICULTURE: Venture has plenty of room to grow

How does 16 acres of produce grow in a 5,800-square-foot hall?

Los Alamitos Fast Out of Post-Hollywood Park Gate

SPORTS: Track’s revamp pays off in changed field

Chalk up another win for Los Alamitos Race Course in its efforts to become a permanent home for a bigger take of Southern California’s nomadic thoroughbred circuit since the December closure of 75-year-old Betfair Hollywood Park.

Family Feel on Image Update for Shops at Mission Viejo

RETAIL: Food court redo, new kids’ features staples of strategy

The Shops at Mission Viejo has set out to strengthen its appeal as a family-oriented option in a retail market that ranges from high-end South Coast Plaza and Fashion Island to the downtown feel and nighttime draw of the Irvine Spectrum.

Aristotle Capital to Newport Center

Aristotle Capital Management LLC is doubling its office size in Orange County with a move from Irvine to Newport Beach.

Irvine Buy Another Nod to Creative-Office Trend

REAL ESTATE: Menlo gets Pacific Dental HQ on Red Hill

The recently redeveloped Red Hill Avenue building that holds the headquarters of dental-practice manager Pacific Dental Services Inc. in Irvine has been sold to a Silicon Valley-based real estate investor.

Device Maker Jobs Up 2% in 6th Straight Growth Year

34 Companies Employed 16,000+ in Orange County

The 34 largest medical device makers in Orange County experienced 2% job growth during the 12 months ended in August, according to the Business Journal’s annual list.

Rental Health in Spectrum

St. Joseph Hoag Sets Up at Irvine Company Complex

St. Joseph Hoag Health’s latest building block for the integrated regional care delivery it aims to establish throughout Orange County is the cornerstone of the Irvine Company’s newest idea to bolster the amenities at a couple of its bigger apartment complexes.

10 Biggest Drugmakers Combine for 1% Job Growth

Allergan Leads the Way With 2,400 Local Workers

Irvine-based Allergan Inc. is the runaway leader on the Business Journal’s annual list of drugmakers based in Orange County or with sizable local operations.

Friday, September 12

Federal Judge Grants Allergan Injunction Hearing Request

Allergan Inc. said today that a federal judge has set an Oct. 28 hearing for a preliminary injunction against hostile suitors Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management LP.

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Allergan to Cut 129 Irvine Jobs

Irvine-based Allergan Inc. has filed papers with state officials saying it will lay off 129 employees.

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Oculus Co-founder Gives $31M

The cofounder and chief executive of Irvine-based Oculus VR Inc. has pledged $31 million to the University of Maryland-College Park to build a new computer science building focused on virtual reality, according to a report.

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RSM Smoothie Seller Plans 58 Locations

Bowl of Heaven plans to add 58 new franchised locations in Orange County, Los Angeles, San Diego, San Francisco and Las Vegas, the company said.

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Midday Stock Roundup

The S&P 500 fell 0.56% to 1,986.26 in midday trading.

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PE Firm Invests in Propane Engine Maker

Newport Beach-based private equity firm Solis Capital Partners LLC has made an equity investment in LEHR Inc., a manufacturer of propane-powered engines and tools for home and commercial uses.

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Thursday, September 11

Innocean Lands Energy Account

InnoceanUSA has branched beyond mainstay client Hyundai Motor America Inc. with the addition of NRG Energy to its growing roster of nonautomotive accounts.

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Midday Stock Roundup

The S&P 500 fell 0.11% to 1,993.56 in midday trading.

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Wet Seal Up On Upgrade Despite Sales Drop

Shares of the Wet Seal Inc. were up 9% in midday trading on an analyst upgrade despite disappointing quarterly numbers.

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Wednesday, September 10

Telogis Gets Funding From VC Firm of Ford Motor Chairman

Aliso Viejo-based software maker Telogis Inc. has secured a strategic investment from a Detroit venture capitalist firm co-founded by William Clay Ford Jr., the executive chairman of Ford Motor Co. and the son of the owner of the Detroit Lions.

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Wet Seal Shares Fall on Q2 Loss

Shares of the Wet Seal Inc. tumbled 11% to 60 cents and a market value of $51.2 million in after-hours trading on Wednesday after the teen and contemporary retail chain reported a bigger-than-expected second quarter loss.

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Startup Raises $5M, Enters VR Deal

A Laguna Beach startup that specializes in virtual reality content has raised $5 million from private investors and entered a partnership with Oculus VR Inc. and Samsung in one of the latest developments to hit technology’s hottest emerging consumer segment.

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Microsemi Makes Small Buy

Aliso Viejo-based Microsemi Corp. announced an agreement today to purchase a Santa Rosa chipmaker and also revealed plans to repurchase up to $100 million of its common stock.

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UCI Merage School Debuts in U.S. News Ranks

The University of California-Irvine Paul Merage School of Business is ranked No. 39 in the country for best undergraduate business programs, according to U.S. News and World Report.

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Midday Stock Roundup

The S&P 500 rose 0.25% to 1,993.38 in midday trading Wednesday.

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Tuesday, September 9

J.Jill to Open in South County

J.Jill Group Inc. is set to open a store at the Shops at Mission Viejo this winter.

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Alphaeon Buys Canadian Company

Newport Beach-based Alphaeon Corp. said today that it is buying Clarion Medical Technologies Inc., a Canadian aesthetic medicine company.

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Alignment Healthcare Makes Deal

Irvine-based Alignment Healthcare LLC said today that it acquired Citizens Choice Health Plan for an undisclosed amount.

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Midday Stock Roundup

The S&P 500 fell 0.3% to 1,995.20 in midday trading Tuesday.

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Monday, September 8

Sonendo Gets $35 Million

Laguna Hills-based Sonendo Inc. said today that it completed a $35 million round of equity financing.

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Midday Stock Roundup

The S&P 500 fell 0.6% to 1,996.16 in midday trading Monday.

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Pac Merc Names COO

Costa Mesa-based Pacific Mercantile Bancorp has promoted Robert Sjogren to chief operating officer, a position that had been vacant for some time.

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Wozniak to Speak at NAMM

Apple Computers co-founder Steve Wozniak will speak at the National Association of Music Merchants show in Anaheim in January, the association said.

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OC Auto Brands Post Strong August Sales

Orange County-based auto brands met or exceeded national new vehicles sales figures in August.

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Contract Electronics Makers’ Job Count Flat Again

Biggest Here Combine For Workforce of 2,728

Local employment growth has evaded Orange County’s largest contract electronics makers for another year, despite a boost in global sales for the industry.

Latino Shop Branches Further Into General Market

MEDIA: Casanova Pendrill TV ad straddles audiences

Casanova Pendrill’s idea for Nature Valley’s new TV ad was big enough to cross the boundaries of the Latino audience it was initially intended for. That also meant stepping on the turf of McCann Erickson, its sister agency, which handles the brand’s general market account.

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.

OC’s Gaming Roots Run From Early Versions to VR

Older Firms Programmed Play for Today’s Innovators

Orange County’s influence in the video game industry traces back decades, from trailblazing studios in the early 1980s to today’s innovators of virtual reality.

OCBJ Calendar

Sept. 8-17, 2014

This week's business and other event listings.

real estate deals

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

Schmid Investments LP sold an office building in Anaheim for $5.1 million to Seoul Plaza Investments LLC.

Construction Market Mixed in Second Quarter

Orange County’s retail sector has yet to see a significant increase in development.

Device Maker’s OC Operation Stays Intact After Buy

HEALTHCARE: Novartis unit sees acquisition as complement

Aliso Viejo-based eye device maker WaveTec Vision Systems Inc.’s operations are expected to remain largely intact as it begins a new chapter in its corporate life.

Equipment Firm HQ to Irvine in Expansion

Equipment leasing company Pacific Rim Capital Inc. has expanded its headquarters in a move from Aliso Viejo to Irvine.

El Pollo Loco: Momentum Brings Prospects for Expansion

RESTAURANTS: Hot IPO, Texas deal spur franchisees

Costa Mesa-based grilled chicken chain El Pollo Loco continued to ride a wave of momentum that carried it from an eye-popping initial public offering in July to a master franchisee deal in August and a solid first quarterly report this month.

Kofax to Pay $34.7M for German Firm

Irvine-based software maker Kofax Ltd. agreed to pay $34.7 million in cash for Softpro GMBH, a German company that specializes in electronic signature services and software.

Urban Decay’s Metro Moves

NB, London Flagships for $200M Brand

Wende Zommir worked her way up from an Elizabeth Arden makeup counter in Texas to cofounding Urban Decay Cosmetics LLC, L’Oréal SA luxury division’s No. 2 brand—second in sales growth only to Lancôme.

Big Mandate on Campus: Health Science Programs

Demographics Dictate Expansions at Several Colleges

A number of Orange County colleges and universities have invested in new health science campuses and programs to tap into trends that include an aging population and changes in the healthcare industry.

Kaiser Aluminum Beefs Up as Automakers Lose Weight

MANUFACTURING: Shares near all-time high despite soft aerospace

Shares of Kaiser Aluminum Corp. are nearing their prerecession heyday, thanks in part to small-but-growing sales in the automotive sector that have helped the Foothill Ranch-based company power through a stall in its aerospace business.

Allergan Update: Court Calendar Could Get ‘Pushed Into’ 2015

HEALTHCARE: Santa Ana, Delaware cases scheduled, wrangling continues

That was no end-of-summer lull.

Manhattan Transfer to Island Hotel; Ham & Keller Refine Focus

Gerard Widder, new GM of the Irvine Company’s Island Hotel, arrives in Newport Center with experience from several high-end Manhattan establishments, including a tenure in the same post for the flagship W.

UCI Beall Art Center Gets Warhol Grant

University of California-Irvine art and technology efforts received a $100,000 boost.

Irvine-Based Bank Sells $60M in Notes

Irvine-based Pacific Premier Bancorp Inc. sold $60 million worth of notes to private investors.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 36

University of California President Janet Napolitano nominated Howard Gillman for the University of California-Irvine’s chancellor post.

Online Data Analysis Helps Guide OC Luxury Buyers

Trends, Neighborhood Facts Help Agents Sell

Orange County luxury-home clients are increasingly turning toward online sources to determine the latest in market data to help them make informed decisions about their investments in one-of-a-kind homes, according to Rick Brotherton, vice president of marketing at First Team Real Estate-Christie’s International.

Elephant Bar to Be Bought

The Costa Mesa-based parent of the Elephant Bar restaurant chain is slated to be bought out of bankruptcy and will be operated by a Dallas-based restaurant company.

Regulator Charges AirTouch, Ex-Execs in Fraud Case

Alleges They Reported Fake Earnings for Device

The Securities and Exchange Commission has charged Newport Beach-based equipment maker AirTouch Communications Inc. and its former chief executive and chief financial officer with misstating revenue and defrauding an investor.

It’s Official: Questcor Now Mallinckrodt PLC Unit

Acquisition Final, Local Operations to Stay Intact

Questcor Pharmaceuticals Inc. made plenty of headlines in its roughly four years as an Orange County-based public company.

Errand Turns Into Role in UPS Ad for HB Businessman

Does ‘Mailbox Confession’ Of Small-Business Services

Tony Orlando went to pick up his mail from a shipping and business services center in Huntington Beach and walked out with a contract to star in a commercial for UPS Store Inc.

Long-Anticipated ‘Wasteland’ Game Sequel on Way

Producer Waited 10+ Years To Get Money for Follow-Up

It’s taken Brian Fargo more than a decade to get the band back together for a follow-up release to the smash hit “Wasteland.”

StanPac Goes Deep With Arizona Ballpark Plan

Stadium Site Will Be Turned Into Homes

Irvine-based Standard Pacific Corp. is moving ahead on a housing development at the former site of a Cactus League baseball stadium in Chandler, Ariz.

Friday, September 5

OC Auto Brands Post Strong August Sales

Orange County-based auto brands met or exceeded national new vehicles sales figures in August.

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Allergan Buzz: Jazz Phamarceuticals a Buy?

Shares of Jazz Pharmaceuticals PLC rose today after an industry website said it would likely be the most viable deal target for Irvine-based Allergan Inc.

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Report: Alliance Considering Sale

Newport Beach-based Alliance HealthCare Services Inc. may consider putting itself up for sale, according to a report published today.

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Midday Stock Roundup

The S&P 500 rose 0.3% to 2,003.59 in midday trading Friday.

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Quiksilver Down on Earnings Slide

Shares of Quiksilver Inc. dropped about 27% to $2.06 and market value of about $350 million in midday trading Thursday after the retailer posted a big loss and a steep drop in revenue for the quarter ended July 31.

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Thursday, September 4

Quiksilver Slides on Rugged Quarter

Shares of Quiksilver Inc. dropped about 11% to $2.51 and market value of about $428.5 million in after-hours trading Thursday after the retailer posted a big loss and a steep drop in revenue for the quarter ended July 31.

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Alliant Expands with Buy in Spokane

Newport Beach-based Alliant Insurance Services Inc. has acquired Moloney + O’Neill in Spokane, Wash. on undisclosed terms.

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Disneyland-Area Hotel Sold for $32.5M

Chesapeake Lodging Trust said it sold the 153-room Courtyard Anaheim at Disneyland Resort for $32.5 million, or about $212,000 per room.

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El Pollo Loco Parent Reports Higher Earnings in Q2

Costa Mesa-based El Pollo Loco Holdings Inc. reported net income of $6.6 million and 21 cents per share for its second quarter ended June 25, 2014, compared to $410,000, or 1 cent per diluted share in the same period last year.

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$21M Round for Mazzo-Led Device Company

Irvine-based medical device company AcuFocus Inc. has received $21 million in new venture funding.

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Gillman Nominated for UCI Chancellor

University of California President Janet Napolitano nominated Howard Gillman as the University of California-Irvine’s next chancellor.

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Midday Stock Roundup

The S&P 500 rose 0.26% to 2,005.87 in midday trading Thursday.

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Anaheim Bathtub Maker Sold

Anaheim-based bathtub manufacturer Aquatic has been acquired by the Sterling Group, a private equity firm in Houston.

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Wednesday, September 3

Community College District Names Interim Chancellor

The Coast Community College District Board of Trustees appointed Tom Harris interim chancellor.

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Midday Stock Roundup

The S&P 500 rose 0.1% to 2,004.20 in midday trading Wednesday.

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Wet Seal Plunges on Q3 Outlook; Share Offerings

Trading in shares of Foothill Ranch-based Wet Seal Inc. was halted for several hours after the market opened today.

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Tuesday, September 2

Thomas Back at Helm of Wet Seal

Foothill Ranch-based Wet Seal Inc. Chief Executive John Goodman left the company August 26 and was replaced by former Chief Executive Edmond Thomas, according to regulatory filings.

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Pacific Premier in $60M Private Placement

Irvine-based Pacific Premier Bancorp Inc. has sold $60 million worth of notes to private investors.

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Biolase Makes Nugent Permanent CEO

Irvine-based Biolase Inc. said today that Jeffrey Nugent is now the company’s permanent chief executive. Nugent, a Biolase director, had served as acting chief executive since June.

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Allergan Answers Valeant, Pershing Square

Irvine-based Allergan Inc. said today that it filed an answer in U.S. District Court to a countersuit filed by Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management.

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Midday Stock Roundup

The S&P 500 fell 0.4% to 1,995.55 in midday trading Monday.

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Kofax Acquires German E-Signature Company

Irvine-based software maker Kofax Ltd has agreed to pay $34.7 million in cash for Softpro GmbH, a German company that specializes in electronic signature software and services.

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Bankrupt CM Restaurant Chain to be Bought

The Costa Mesa-based parent of the Elephant Bar restaurant chain is slated to be bought out of bankruptcy and will be operated by a Dallas-based restaurant company.

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Warhol Pledge: $100K to UCI Beall Center

The New York City-based Andy Warhol Foundation for the Visual Arts is giving $100,000 to The Beall Center for Art and Technology at the University of California-Irvine.

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Kia Adds to EV Charging Network

Irvine-based Kia Motors America plans to add 17 “fast-charging” electric vehicle charging stations to its 198 in California to support the Kia Soul EV that goes on sale later this year.

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OC’s First Din Tai Fung and Other Worthy Food Adventures

Chinese Dumpling House Delights With Each Morsel

Din Tai Fung, the famed Chinese dumpling house, opened two weeks ago at South Coast Plaza (entrance on the upper level next to Sears). I surmise that, having heard the buzz about its international reputation, the crowds will flow.

Monday, September 1

real estate deals

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

Civic Center Professional Building Inc. sold an office building in Santa Ana for $12 million to BW America Development LLC.

OCBJ Calendar

Sept. 1-10, 2014

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 35

Southwest Airlines will start nonstop flights beginning Nov. 2 from John Wayne Airport to Dallas.

PHILANTHROPY

David Wilson’s Wilson Automotive Group donated a Toyota Prius c to Orangewood Children’s Foundation to celebrate the sale of its 500th car.

Newport Beach Hotel Software Specialist in China Buy

HOSPITALITY: Healthcare, restaurants, golf also clients

A Newport Beach-based software provider that specializes in the hospitality industry expanded its operations in China last week with the acquisition of a company in Singapore.

How Thompsons Took Up Cause

Daughter’s Accounts of Autism Led Pimco Vet, Wife on Journey

What happens when an executive who spent a career trying to stay ahead of where markets might move hears a story that leads him on a different journey?

Prescription for Open Enrollment Season: 700 Hires

HEALTHCARE: Alta Resources seeks permanent, seasonal staff

Alta Resources Inc. is bringing its Brea office along on a major expansion, with plans to hire some 700 workers there.

Segerstrom Center’s Street Smarts

Education Programs Aim for Neighborhoods

Luis Castillo experienced something entirely new when he was touched by the Summer at the Center program back in 1994.

St. Joseph Health Backs Big Office Buy in Mission Viejo

HEALTHCARE: Innovation Institute gets four buildings, 263,000 SF

The Innovation Institute LLC, a La Palma-based for-profit healthcare company formed by St. Joseph Health in Irvine last year, has taken over ownership of four medical buildings surrounding Mission Hospital in Mission Viejo.

Amway Bolsters OC Operations With $42M Investment in Nutrilite

MARKETING: Manufacturing, R&D upgrades in Buena Park

Amway Corp. is expanding the Buena Park operations of its Nutrilite supplements brand with a $42 million investment for new manufacturing and research facilities.

Next Generation of Philanthropists Changes Giving

Savvy, Tech-Smart Gen Y Maps Out Its Own Way

Look who grew up. Generation Y, born roughly between 1980 and 2000 and also known as the Millennials, is leaving its mark on everything it comes into contact with, and that includes philanthropy.

Freeman’s Long Road to Philanthropy Day Observance

Reagan Proclamation Came After Years of Efforts

On Nov. 14, 1986, President Ronald Reagan took the podium in a room crowded with reporters, photographers, and camera operators, ready to make a proclamation about an event five years in the making.

Private Foundation Giving Up Overall, Down in OC

40 Give $33M Locally Last Year, Down 9.3% From ’12

Private foundations based in Orange County gave $156.2 million overall based on their most recent data compared to $128.7 million a year ago—21.4% higher—but their local giving was down, according to data compiled by the Business Journal.

Corporate Giving Generally Up Fourth Year Running

Foundations, Firms’ Charity Arms Give 3.1% More OC Cash

Total cash giving by 35 corporate foundations and company charitable arms active in Orange County dropped 6.4% from a year ago. But discounting two major, one-time giving efforts in 2012 from the largest giver on that year’s list, Wells Fargo & Co. there was a fractional boost for the year—the fourth straight of positive increases, the Business Journal’s list shows.

Furniture Maker Expands With $12.6M Fullerton Buy

Michael Nicholas Puts Buena Park HQ on Market

Michael Nicholas Designs Inc., a family-owned furniture manufacturer in Buena Park, is expanding its manufacturing operations after buying a big industrial building in Fullerton.

ViewSonic Shows Off HQ as It Makes OC Its Home

Brea Building Showcases Tech Firm’s Offerings

ViewSonic Corp.’s new 25,000-square-foot headquarters in Brea was designed to showcase the company’s new line of touch-screen projectors and virtual desktops that are drawing strong demand in the classroom and at businesses.

Kia Hamsters Bring on Geek Chic With New Ad

Brains, Female Enter Mix Of Popular Marketing Stars

Ever wonder who designed Kia Motors America Inc.’s first electric vehicle?

Edwards Lifesciences Continues Wall Street Resurgence

Analysts Like Its Recent Showing, Suit Settlement

Irvine-based heart valve maker Edwards Lifesciences Corp. received kudos on Wall Street as it continues its yearlong market surge.

Texas Firm to Buy OC Device Maker

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

Billabong to Sell Swell.com in Irvine

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

NB Services Firm Bought by DLC

Beacon Resources LLC in Newport Beach was acquired by Woodland Hills-based professional services firm DLC on undisclosed terms.

Corinthian to Sell Assets in Wind Down

Santa Ana-based Corinthian Colleges Inc. said it would sell some assets to raise money to fund the winding down of its operations and, separately, that it had paid back rent its landlord said it owed.

Lake Forest Lender Taps Treasury on $100M Bond Issue

FINANCE: Proceeds pegged for community development projects

A Lake Forest-based lender primarily focused on community development has received $100 million through bond debt backed by the U.S. Department of the Treasury and targeted for use on projects in low-income and underserved areas.

Callahan v. Busch; Check Pyott’s Sleeve; Full of Philanthropy

The Dec. 18 date that’s been set for a special shareholders meeting on Valeant Pharmaceuticals’ hostile bid for Irvine-based Allergan didn’t add up to much on Wall Street, where neither company saw its shares do much last week.

Another Bank Sets Up HQ in Irvine

FINANCE: CBC buys building for move from Costa Mesa

Commercial Bank of California has moved its headquarters from Costa Mesa to a building it has purchased in Irvine.

Large Occupiers Drive Mid Counties Industrial Market Strength

The Mid Counties industrial market hit a turning point in the second quarter as strong demand pushed supply to its lowest level in six years.