Stories for August 2015

Monday, August 31

Midday Stock Roundup

The S&P 500 was down 0.6% to 1,976.88.

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Anna’s Linens Postpones Part of Auction

Anna’s Linens Inc. in Costa Mesa has postponed the auction of its intellectual property, according to documents filed with the U.S. Bankruptcy Court for the Central District of California in Santa Ana.

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Gamer on Cloud 9 as He Rides Lucrative Whirlwind

Players Do What They Love for Big Cash, Fame

Sean Gares is getting ready to leave his Tustin apartment to catch a 2 p.m. flight out of LAX to Germany.

South Korea-Based Game Maker Sets Sight on West

TECHNOLOGY: NCSOFT hires 100 in Aliso Viejo

South Korea-based video gaming giant NCSOFT Corp. is pouring big money into expanding its Aliso Viejo operations in a global effort to bring a roster of popular role-playing fantasy games to the West under a new business model.

Advantage OC

‘Outdoor Living’ Leads Sports Gear Maker to Fountain Valley

A big chunk of the operations of the newly organized and renamed United Sports Brands will move into a 134,000-square-foot shop in Fountain Valley in December—just in time to remind employees who will be relocating from the Midwest of a key reason for the move.

Stadium Towers Owner Sees Room for More

REAL ESTATE: Could add 300,000 SF, 15 stories on Katella

The owner of Stadium Towers Plaza, a 12-story office next to Angel Stadium of Anaheim, is in the early stages of planning to double down on the same site.

Next in Anaheim: JW Marriott Set to Join Hotel Lineup

HOSPITALITY: 4-diamond entry expected for GardenWalk area

A 2.8-acre parcel near Anaheim GardenWalk is in line for a 466-room, 12-story JW Marriott hotel, according to documents filed with the city of Anaheim.

Global Drama, Local Grind

OC-Based Public Companies Take Share of Licks, Carry On

Orange County’s diverse crop of publicly traded companies held up relatively well as worries about China’s economy whipsawed the stock market here and in other markets around the world.

OC Companies Play Key Role as ESports Grow Up

Much of Play Devoted To Blizzard’s Game Fare

Irvine-based Blizzard Entertainment Inc. and Kingston Technology Inc. in Fountain Valley are at the forefront of one of the hottest trends in the technology industry that’s attracting stadium-size crowds to venues across the globe and millions of online viewers.

Electronics Makers See Flat Employment Pace

18 Biggest Companies Add Just Nine Employees

Employment at the county’s largest contract electronics makers was flat over the past 12 months, despite steady sales growth in the industry worldwide.

About That 100,000; Kudos for Ingram; Prediction for Aitken

A key number overlooked in last week’s initial blast of publicity on the $68 million makeover of the central plaza at the Segerstrom Center for the Arts: 100,000.

Majority Stake in MainPlace Part of Bigger Sale

RETAIL: Santa Ana center 1 of 5 said to be in $1.1 billion deal

Sydney-based Westfield Corp. is expected to sell a majority stake in Westfield MainPlace in Santa Ana to a partnership headed by USAA Real Estate Co. in San Antonio, Texas.

Stantec Buys Another Neighbor in Irvine

SERVICES: Latest deal brings ‘unique skills’ on water work

Irvine-based civil engineering firm VA Consulting Inc. has been acquired by Stantec Inc. on undisclosed terms.

Oculus Effect: Newport Gateway Lands Tech Tenants

REAL ESTATE: Irvine Company revamps, recasts office complex

Oculus VR Inc. might not count Irvine as its headquarters any more, but the virtual reality headset maker’s influence on Orange County’s technology sector can still be seen in the buildings where its local operations are housed.

Incubator Move to OC to Boost Startup Aid Network

Cie Digital Aims For Up To 4 Launches Per Year

Cie Digital Labs’ recent move from Long Beach to Irvine could boost OC’s developing ecosystem of incubators, a mix of real-estate-driven plays, public and private partnerships, and co-working spaces.

Western Digital Cuts More OC Jobs

Western Digital Corp. eliminated 81 positions from its Irvine headquarters in its second round of layoffs in the past three months.

Device Maker Gets $38M in New Round

San Clemente-based ReShape Medical Inc. received a $38 million round of financing.

Concordia Adds 1,700 in 10 Years

Concordia University-Irvine said a trade publication for higher education listed the school as one of the fastest-growing private nonprofit universities nationally as a result of a 132% increase in students over 10 years starting in 2003 to about 4,050.

Quality Systems CEO Reflects on Early Days on Job

Frantz Settles In, Focuses On Clients, Employees

Quality Systems Inc. Chief Executive Rusty Frantz is starting to “settle into my new role here” after replacing longtime leader Steven Plochocki in July.

Will Galaxy Fans Get Kick Out of ‘Big-Screen App’?

Designer Eschews Smart Phones for Larger Screens

DeskSite, an Irvine-based digital media company that develops app-based video entertainment portals, is thinking bigger than a smartphone with a deal it recently signed with the LA Galaxy soccer team.

Central, North OC Office Market Vacancies Down

The Central and North Orange County office submarkets have traditionally trailed the Greater Airport Area and South Orange County office submarkets in terms of vacancy, average asking lease rates, and space absorption, and 2015 has been no different.

Volt Eyes Sale of 12-Acre Office Campus in Orange

Aims For 10-Year Leaseback of Western Hub

Volt Information Sciences Inc., a New York-based provider of staffing services, has put its Orange office campus on the market.

Specialist Shares Projections for Remainder of 2015

Sales Expected Steady As Appreciation Continues

Luxury home sales in Orange County have been strong so far this year.

Fastest-Growing Private Companies Wanted for List

ECONOMY: Centerpiece of Sept. 21 Special Report

Is your company growing fast?

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 35

Chapman University has put off a plan to expand its campus by 17 acres and add about 3,000 students, according to the Orange County Register.

Real Estate Deals

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

OCBJ Calendar

Aug. 31-Sept. 9 and Sept. 24, 2015

This week's business and other event listings.

Friday, August 28

Anna’s Linens Postpones Part of Auction

Anna’s Linens Inc. in Costa Mesa has postponed the auction of its intellectual property, according to documents filed with the U.S. Bankruptcy Court for the Central District of California in Santa Ana.

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 1,981.28.

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Thursday, August 27

Midday Stock Roundup

Major indices were higher in midday trading after the U.S. GDP growth rate for the second quarter was revised upward to 3.7% from 2.3% and strong labor market numbers.

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Job Cuts at WD

Western Digital Corp. has cut 81 positions at its Irvine headquarters, slightly more than 4% of its local employment base, the company confirmed to the Business Journal.

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Wednesday, August 26

Tilly’s Mixed Quarter

Shares in Tilly’s Inc. fell in after-hours trading Wednesday after missing Wall Street expectations but rose again by midday Thursday on higher net sales.

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Corinthian BK Approved

Corinthian Colleges Inc.’s bankruptcy plan was approved by a bankruptcy judge, the Wall Street Journal said.

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MemorialCare and Aetna Collaborating on Network

Fountain Valley-based MemorialCare Health System said today it is collaborating with West Hartford, Conn.-based Aetna Inc. on a new accountable care network.

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Concordia Student Count Up 132% in 10 Years

Concordia University-Irvine said a trade publication for higher education listed the school as one of the fastest-growing private nonprofit universities nationally as a result of a 132% increase in students over 10 years—from about 2,300 students in 2003 to about 4,050 in 2013.

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Midday Stock Roundup

Major indices were up strongly in midday trading.

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ReShape Gets $38M in Financing

San Clemente-based ReShape Medical Inc. said today it received a $38 million round of financing.

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Tuesday, August 25

St. Joseph Hoag, Masimo Plan Wellness Center

St. Joseph Hoag Health and Masimo Corp., both based in Irvine, said today that they plan to open a wellness center.

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Midday Stock Roundup

Major indices rebounded in midday trading after yesterday’s decline, responding to an interest rate cut in China, calmer global markets and rising U.S. home sales.

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Monday, August 24

July Traffic Jumps at JWA

John Wayne Airport said passenger traffic increased nearly 11% in July compared with the same month last year.

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Midday Stock Roundup

Major indices were down sharply in early trading on global economic fears and a decline in oil futures to a six-year-low, with some recovery by midday.

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Stearns to Sell Majority Stake to Blackstone

Santa Ana-based mortgage lender Stearns Holdings LLC has agreed to sell a majority stake to the Blackstone Group LP, a global asset manager in New York.

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OC Cuts Jobs, Unemployment Rate Up

Orange County’s unemployment rate inched up last month as employers continued to make job cuts.

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Real Estate Deals

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

Irvine-based commercial real estate investor Great Far East sold an office building in Irvine to Brighton Investment LLC for $8.5 million, or about $420 per square foot.

Regulatory Step Brings Broadcom Sale Closer to Reality

Clears Antitrust Waiting Period, Close Set for Q1

Irvine-based Broadcom Corp.’s pending $37 billion sale to Avago Technologies Ltd. in Singapore has passed one of the first regulatory hurdles.

M&W Market Gets Tighter in Q2

Orange County’s manufacturing and warehouse sector, which consists of 5,706 buildings totaling nearly 211 million square feet, is the largest segment of the industrial market.

OCBJ Calendar

Aug.24-Sept. 2, 2015

This week's business and other event listings.

Hospitality Company Puts Lincoln Logs to PR Work

Great Wolf Ships 75 Kits To Stir Buzz for OC Lodge

Great Wolf Lodge Southern California sent out a box of Lincoln Logs to local media to perk their interest in the 603-room resort and indoor water park scheduled to open early next year in Garden Grove.

Bilt, Private Equity Backers in New Dental Enterprise

Smile Brands Cofounder, Former CFO Eye Buys

Veteran OC dental business services executive Steven Bilt has resurfaced with a new company.

ADDENDUM

Disneyland and its counterpart in Florida will get a dedicated “Star Wars” section, Disney Chief Executive and Chairman Bob Iger announced at the company’s D23 Fan Expo in Anaheim (see related graphic, page 22).

Investors Pick Up Foothill Plaza For Nearly $50M

Offices Next to 241 Hold HQ for Kaiser Aluminum

Foothill Plaza, a two-building complex in Foothill Ranch that’s one of the highest-quality buildings in the office market in and around Lake Forest, has traded hands at a price approaching $50 million.

Fastest-Growing Private Companies Wanted for List

ECONOMY: Centerpiece of Sept. 21 Special Report

Is your company growing fast?

U.S. Hyundai Arm Shifts Media Buying

Hyundai Motor America Inc. in Fountain Valley said it will shift its media-buying business to Canvas Worldwide, effective Jan. 1.

Hotel Irvine GM to Irvine Co. Exec Role

Former Hotel Irvine General Manager J.D. Shafer was named a senior director of community management for Irvine Company Apartment Communities.

Another Downgrade for Smile Brands

Irvine-based Smile Brands Group Inc. was hit with its second credit rating downgrade in the past nine months.

250-Room Anaheim Hotel Fetches $34M

Laguna Beach-based Casa Resorts Inc. said its La Casa Anaheim Resort LLC affiliate last week sold the 250-room Hotel Menage in Anaheim for $34.2 million to Taiwan-based buyer Kitty Lo.

Action Sports Media Outfit to Depart San Clemente

MEDIA: Magazines move south; Grind TV to Santa Ana

A bulk of Ten: Action/Outdoor Group’s staff is leaving Orange County next month.

New Owner, Address for Westinghouse TV Brand

MARKETING: China-based company gets license from CBS

Flat TV designer and marketer Westinghouse Digital LLC has relocated its headquarters from Orange to the eastern edge of Los Angeles County and changed its name, the company confirmed to the Business Journal.

Hale Fellow Well Met; DeFranco Goes Platinum

Not a lot of details offered when Blackstone Group’s deal for a majority of Santa Ana-based Stearns Lending came to light late last week, with initial reports offering no price and the description of founder and Chairman Glenn Stearns’ ongoing stake limited to “significant”(see Addendum item, page 15).

New Tools, Talent Fuel PR Shops

MARKETING: Biggest here add duties, combine for 12% hike in jobs

The 40 biggest public relations firms based in Orange County are doing more with more—additional services, bigger budgets, new hires.

EVENTS Calendar

This list of conventions, trade and consumer shows, and other happenings includes events scheduled from Aug. 24, 2015, through July 31, 2016.

NB Marriott Restaurant Event Draws Industry Insiders

First of Four-Year Run For ‘Flavor Experience’

Newport Beach Marriott Hotel & Spa drew 500 restaurant and food service company executives in early August to The Flavor Experience conference in the inaugural year of a four-year stint at the property.

Cooperative Approach Leads to Pitch for ‘Anaheim Campus’

Visit Anaheim, Convention Center, 3 Hotels Together

Staff from Visit Anaheim, Anaheim Convention Center, and the city’s three biggest hotels within walking distance of the convention halls—Hilton Anaheim, Anaheim Marriott and Sheraton Park Hotel at the Anaheim Resort—have traveled four times in 90 days to bring convention business to the city and have scheduled two more jaunts for the fall.

Q&A

Orange County hotels and resorts this year have followed technological trends in the industry to enhance meetings and conventions offerings.

Orange County hotels and resorts this year have followed technological trends in the industry to enhance meetings and conventions offerings. Wider hospitality choices are aimed at better operations and the experience guests have when staying at a property—from moving operations to the cloud and internal apps that bring employees to where they’re needed. The “Internet of Things,” encourages guests to post live videos or “selfies” to their social media accounts, and giving them the ability to text the valet to retrieve their cars. Smartphone technology allows guests to pay bills and open hotel room doors. A recent industry conference guided executives to advise hoteliers to think of themselves in part as technology companies. A hotel in Cupertino—of course—has used robots to deliver items to rooms, and another has tried out the devices to sort luggage. The Business Journal’s Paul Hughes asked local hotels and resorts about technology they’ve added this year in general and specifically for meetings and conventions. Edited excerpts of their responses follow:

Independent Spaces Span OC, Complement Hotel Lineup

Various Alternatives Can Riff Off Local Hotels

Corporate meetings are commonly held at hotels and resorts, but independent OC event spaces with no formal ties to hotels have opened this year or increased efforts to offer a change of scenery for out-of-town guests or to tap local businesses that aren’t looking for an overnight stay.

Latest Big Office Deal: $73M in Newport Beach

REAL ESTATE: Prudential affiliate gets 202,000 square feet near JWA

A 10-story office building in Newport Beach is the latest property to get snapped up by institutional investors bullish on Orange County’s improving economy.

Speedo Aims to ‘Innovate, Extend’ From New HQ

APPAREL: Plans move from downtown LA to Cypress

Speedo USA is moving its headquarters from downtown Los Angeles to Cypress.

Innovation Institute Reaches Beyond Healthcare

Deloitte, Dell Sign On to La Palma-Based Consortium

The La Palma-based Innovation Institute LLC continues to rack up partners in its second year of existence.

PHILANTHROPY

Free Wheelchair Mission’s 12th Annual Miracle of Mobility Gala raised over $1.6 million on July 23 to benefit people in need of mobility.

Saturday, August 22

Stearns to Sell Majority Stake to Blackstone

Santa Ana-based mortgage lender Stearns Holdings LLC has agreed to sell a majority stake to the Blackstone Group LP, a global asset manager in New York.

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Friday, August 21

Stearns to Sell Majority Stake to Blackstone

Santa Ana-based mortgage lender Stearns Holdings LLC has agreed to sell a majority stake to the Blackstone Group LP, a global asset manager in New York.

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OC Cuts Jobs, Unemployment Rate Up

Orange County’s unemployment rate inched up last month as employers continued to make job cuts.

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Midday Stock Roundup

Major indices declined in midday trading on concerns that global growth would be stymied by continued economic unrest in China.

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QLogic Makes Leadership Changes

QLogic Corp. this morning announced that two women will take the top management posts of the Aliso Viejo-based-based networking equipment maker.

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San Clemente Software Maker in $55M Buy

DealerSocket Inc. in San Clemente said it will buy the Inventory+ suite of technology products from Lake Success, N.Y.-based Dealertrack Technologies Inc. for $55 million in cash.

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Thursday, August 20

San Clemente Software Maker in $55M Buy

DealerSocket Inc. in San Clemente said it will buy the Inventory+ suite of technology products from Lake Success, N.Y.-based Dealertrack Technologies Inc. for $55 million in cash.

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UC Irvine Geriatric Health Unit Receives $2.5M

UC Irvine Health, the medical enterprise of the University of California-Irvine, said its division of geriatric medicine and gerontology received a three-year, $2.5 million grant from the U.S. Department of Health and Human Services.

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Midday Stock Roundup

Major indices were down in midday trading on global growth fears.

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Wednesday, August 19

Eight OC High Schools on Newsweek List

Eight local schools are on Newsweek magazine’s America’s Top High Schools 2015 list.

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Midday Stock Roundup

Major indices were down in midday trading on a decline in oil prices and stock market volatility in China and emerging markets.

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Tuesday, August 18

Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading at 2,095.42.

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Monday, August 17

Hyundai, Kia Pick New Media Buyer

Hyundai Motor America Inc. in Fountain Valley said it will shift its media-buying business to Canvas Worldwide, effective Jan. 1.

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Hotel Irvine GM Shifts to Apartments

Former Hotel Irvine General Manager J.D. Shafer has been named a senior director of community management for Irvine Company Apartment Communities.

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UCI Set for $3M to Study Jains, Sikhs

University of California-Irvine confirmed two $1.5 million donation agreements to endow chairs in studies of Sikhs and Jains signed last week in Buena Park at the Jain Center of Southern California.

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Banc of CA CFO to Leave

The chief financial officer of Irvine-based Banc of California is stepping down, according to a document filed with the Securities and Exchange Commission.

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Midday Stock Roundup

The S&P 500 was up 0.5% in midday trading to 2,100.89.

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Device Maker Preps for Premarket Study With New Cash

HEALTHCARE: TherOx laid low since recession-era setbacks

TherOx Inc., an Irvine-based medical device maker, has re-emerged in the public eye with an eight-figure funding round and is preparing to work on eventual regulatory approval of its lead product.

OCBJ Calendar

Aug.17-26, 2015

This week's business and other event listings.

Healthcare-Related REIT Doubles Borrowing Capacity

Unsecured Line Gives It $500 Million Potential

San Clemente-based CareTrust REIT Inc. is loading up on credit as it tries to maintain growth.

DC Shoes Rides Publicity Windfall With YouTube Hit

Dirt-Biker-Turned-Surfer Video Pulls in 16M+ Views

DC Shoes’ video “Pipe Dream,” featuring Robbie “Maddo” Maddison surfing the waves of Tahiti on a modified dirt bike, has amassed more than 16.5 million views on the brand’s YouTube channel since it was posted two weeks ago.

Blizzard Gains Sales Through Its Free-to-Play Games

Revenue Up 13%, WoW Subscribers Down

Blizzard Entertainment Inc.’s evolving business model into free-to-play games has helped the Irvine-based video game maker offset the lowest subscription count for its flagship World of Warcraft franchise in more than decade.

Real Estate Deals

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

MDI Redhill LLC sold an industrial building in Tustin to KCI Valencia LLC for $8.4 million, or about $190.38 per square foot.

Apartment Owner Looks for a Lift to Boost Parking

Costa Mesa Proposal Would Be a First For City

The owners of a Costa Mesa apartment complex want to take a new approach to dealing with parking congestion.

Brown’s New Suffix; Haddad’s Old Trees; Tu’s Star Turn

Mary Ann Brown has maintained a low profile despite her status as one of the highest-ranking female executives in OC, with a resume that stretches from here to New York and London.

Blizzard Entertainment Extends Spectrum HQ Stay

REAL ESTATE: Leases combine for 435,000 square feet

Blizzard Entertainment Inc. has signed a new lease for its offices in the Irvine Spectrum in a deal that should keep Orange County’s largest software company in its present location for the foreseeable future.

Core of Anna’s Linens Could Survive Bankruptcy

RETAIL: Insiders try to keep name, 100+ stores, CFO says

Anna’s Linens Inc. in Costa Mesa is conducting a going-out-of-business sale, but don’t write off the household-goods retailer just yet.

Mitsubishi Replaces PR Agency of Record

Mitsubishi Motors North America Inc. in Cypress selected Newport Beach-based The Brand Amp as its public relations agency of record.

Men’s Salon Chain Grows Like Healthy Head of Hair

RETAIL: 18ǀ8 jumped from 6 spots in 2013 to 370

Scott Griffiths is out to sell you an experience.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 33

Raj Manufacturing LLC in Tustin changed its name to Raj Swim LLC to better showcase the company’s culture.

Highest Home Sale of Year Closes Escrow on Coast

27 Homes Over $20M Still Listed for Sale in OC

The highest residential sale in Orange County so far this year closed escrow in Laguna Beach.

St. Joseph Combo Short on Details

Providence Deal Would Put Pair Under New Firm

St. Joseph Health’s stated desire to improve healthcare delivery in its operating communities is leading it to create a large entity spanning most of the West Coast and over into Texas.

Putting the Sizzle Back in a Brand

Steak Chain Launched in ’50s Targets Millennial Families

Sizzler USA Inc. wants to attract Millennial families to the 57-year-old brand.

New Home Co. to See $500M+ in Luxe Ranch Sales

REAL ESTATE: Irvine Co. deals extend to new Eastwood project

The New Home Co. is expecting more than $500 million worth of luxury home sales on the Irvine Ranch, thanks to its latest big land deal with Newport Beach-based Irvine Company.

Quintana Campus Sells to Hines & PIMCO

REAL ESTATE: Big redo in store for former WaMu offices

The local office of Houston-based Hines Interests LP has partnered with Pacific Investment Management Co. in Newport Beach to buy one of the most prominent office campuses near John Wayne Airport.

Local Mega Developers Take Show on the Road

50M SF Planned in US, Fewer Options at Home

A handful of Orange County developers are at the forefront of a big push to build dozens of cutting-edge distribution and warehouse buildings across the country.

Industrial Market Demand Up in Q2

The Orange County industrial market continued to perform well, building on the positive momentum experienced earlier in the year.

Office Vacancies Continue Decline in Q2

The Orange County economy continues expanding, as most jobs lost during the economic downturn seem to have been recovered, and most sectors show healthy growth.

Telecom’s Job Cuts Pull Down Local Industry By 6%

Verizon Trims 1,000 in OC, Leads to 2nd Drop in a Row

A companywide restructuring fueled the second straight year of significant job losses among Orange County’s largest telecommunications companies.

OC Cities’ Populations Increase 1% to Top 3 Million

Anaheim Stays Atop List, Irvine Grows Most at 3.2%

Orange County’s population growth kept pace and inched up by 1% last year to slightly above 3 million.

Friday, August 14

Banc of CA CFO to Leave

The chief financial officer of Irvine-based Banc of California is stepping down, according to a document filed with the Securities and Exchange Commission.

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Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,089.16.

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Thursday, August 13

$749M in Hotel Sales in First Half of 2015

Eleven Orange County hotels sold for a total of $749 million in the first half of 2015, according to Irvine-based Atlas Hospitality Group’s mid-year survey of hotel sales.

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Toba Backs Software Startup

Newport Beach-based venture capital firm Toba Capital has partnered with an information technology company to invest $20 million in WSO2, a software developer in Mountain View.

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El Pollo Loco Down on Revenue Miss

Costa Mesa-based El Pollo Loco Holdings Inc. shares fell more than 18% in midday trading after the company reported quarterly revenue yesterday that was below analyst expectations.

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Swimwear Maker Takes New Name

Raj Manufacturing LLC in Tustin has rebranded itself as Raj Swim to better showcase the company’s culture.

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Ultra Mobile Tops Inc. 5000

Costa Mesa startup Ultra Mobile has zoomed to the top of the list of the 5000 fastest growing private companies in the U.S., according to Inc. Magazine.

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Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,092.41.

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Habit to Enter Idaho

Irvine-based Habit Restaurants Inc. will debut in its seventh state with a restaurant opening this year in Meridian, Idaho, a news report said.

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Wednesday, August 12

WD Names New Chairman

Former Western Digital Corp. Chairman and Chief Executive Matthew Massengill will regain the top board seat following the retirement of Tom Pardun later this year, the Irvine-based storage products maker announced.

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HB’s Paséa Hotel & Spa Names GM

Pacific Hospitality Group named Scott Blakeslee general manager of the under-construction Paséa Hotel & Spa in Huntington Beach.

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,077.90.

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Tuesday, August 11

Irvine Brewery Set to be Sold

Evans Brewing Co. Inc. in Santa Ana said in a regulatory filing it plans to buy Bayhawk Ales Inc. in Irvine and to exchange shares in Evans, one-for-one, for those in Bayhawk.

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Midday Stock Roundup

Major indices declined in midday trading on China devaluing its currency.

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Microsemi Donates $1M to Chapman

Aliso Viejo-based semiconductor maker Microsemi Corp. has given $1 million to Chapman University to support a center set to open in 2018 as part of the Orange-based school’s new Schmid College of Science and Technology.

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Monday, August 10

Hyundai Unit Names Marketing Head

Hyundai Motor America Inc. in Fountain Valley named Dean Evans its vice president and chief marketing officer.

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Wet Seal Has New CEO

The Wet Seal LLC in Foothill Ranch named Melanie Cox its new chief executive.

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Midday Stock Roundup

Major indices increased in midday trading on a recovery in oil prices and a boost in industrial stocks fueled by a $32 billion acquisition of an aerospace parts company announced by Berkshire Hathaway.

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PHILANTHROPY

Segerstrom Center for the Arts held its second annual Arts & Business Leadership Awards Dinner on June 25.

Food, Family, Dash of Passion

Dining Doyenne’s Recipe for Success Now Includes 2nd Generation

Zovak “Zov” Karamardian didn’t know how to run a restaurant when she started what would become Zov’s Bistro Inc.

Ex-US Rep. Named to Firm’s Board

Chris Cox, a former member of the U.S. House of Representatives and chairman of the Securities and Exchange Commission, is a new board member at Pasadena-based Calhoun Vision Inc.

Juice, Food Chain Plans 15-20 OC Spots

Scottsdale, Ariz.-based fast food and juice chain Grabbagreen said it signed an area developer agreement with ConeHead Investments Inc. in Oceanside for 95 locations in Southern California, including 15 to 20 restaurants in Orange County.

Bicycle Maker to Move to OC This Year

Wilmington, Del.-based bicycle designer and manufacturer Blue Bicycles said it will move to Orange County by the end of the year and that its current chief executive, Steven Harad, has resigned and will remain with the company for 90 days to assist in the transition.

Del Taco Refinance to Boost Net Income

Lake Forest-based Del Taco Restaurants Inc. refinanced $164 million in debt under a new five-year, $250 million credit facility, cutting its borrowing costs by 3 percentage points and its annual interest payments by $5.4 million.

All About Quality

Fourth Generation Steers Construction Materials Specialist

Nearly 70% of family-owned businesses fail or are sold before the second generation gets a chance to take over, according to an article in the Harvard Business Review.

Baker’s Man

Wholesale Bread No Child’s Game—$4 Million in Sales in 2015

Dean Kim plans to move his Orange-based OC Baking Co. this year to a new 18,000-square-foot facility in the same city.

Kareo to Push Product Development With $55M

Irvine-based Kareo Inc. has its sights set on big growth driven by sales to small medical practices.

Auto Hackers Could Drive New Microsemi Line

TECHNOLOGY: Chipmaker bills 2 offerings as more secure

Aliso Viejo-based Microsemi Corp. has entered the auto market with two chip offerings as car manufacturers wrestle with mounting security concerns over data breaches and hacking attacks.

Santa Ana Stop for KPCC Road Show; OCMA’s Art/Work

Put Santa Ana on the itinerary for the road show rolled out by KPCC/89.3 FM to mark Larry Mantle’s 30th anniversary as host of the popular Air Talk program.

Printing a Promising Future

Couple Hopes to Pass on Company to Third Generation

Robert and Amy Miller enjoy running their printing company, Anaheim-based Lester Lithograph Inc., together, but for years they tried to guard their four children from feeling pressured to join them.

Toshiba America Boss Adds Duties in NC

TECHNOLOGY: Takes on oversight, board seat for TGCS

Scott Maccabe will oversee a big strategic shift that aims to leverage two of Toshiba Tec Corp.’s largest U.S. business units under a new leadership role.

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Owner of OC’s Montage, Ritz-Carlton Eyeing Sale?

Report Cites Last Montage Owner as Possible Bidder

Strategic Hotels & Resorts Inc. is, for the second time in as many years, rumored to be exploring a sale of its high-end hotel portfolio. The deal could change ownership of two of Orange County’s toniest resorts.

Slow Construction Keeps OC Markets Tight

Orange County had approximately 1.2 million square feet of industrial space under construction at the end of the second quarter, with the majority, or 849,015 square feet, concentrated in North Orange County.

Real Estate Deals

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

Richmond American Homes bought 22-unit apartment complex in Costa Mesa from a private party for $9.5 million, or about $431,818 per unit.

More of Vizio’s Ownership Revealed in IPO Filings

Minority Owner Details; Founder Wang Has 54.7%

Regulatory filings from Vizio Inc.’s planned initial public offering uncovered several unknowns behind the Irvine-based consumer electronics brand.

Motley Host Sings Outlander’s Praises in TV Campaign

Focus on SUV That Will No Longer Be US-Made

Cypress-based Mitsubishi Motors North America Inc. launched a set of TV commercials promoting its restyled 2016 Outlander SUV.

Newly Approved ReShape Device Gets Local Provider

Maker Says Device Fills Gap Between Diet, Surgery

San Clemente-based ReShape Medical Inc., upon receiving regulatory approval and introducing its device for nonsurgical weight loss, wasted no time in finding a local provider for it.

OCBJ Calendar

Aug. 10-19, 2015

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 32

Pacific Investment Management Co. said Securities and Exchange Commission staff are proposing the agency take civil action against the firm.

Universal Appeal in Santa Ana?

Latest Acquisition Has Private Security Firm Planning for IPO

Fast-growing security services provider Universal Services of America has its eyes set on an initial public offering in the next 18 to 24 months.

VidCon Commits to 2020 Vision in Anaheim

HOSPITALITY: YouTube confab stars fast-growing fan favorite

VidCon will be in Anaheim through 2020.

Family Fabric

Surf Style in Smithsonian, DIYers in Sights

Hoffman California Fabrics International has been evolving for 90 years, a trend-driven mission that sometimes means bridging generations.

EB-5 Program at Play in Platinum Triangle Buy

REAL ESTATE: Deal in $50M range for Texas-based JPI/TDI

A Texas-based apartment investor is under contract to buy one of the largest remaining residential development sites in the Platinum Triangle area of Anaheim.

Friday, August 7

Midday Stock Roundup

The S&P 500 was up down 0.6% to 2,070.95.

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JenaValve Nabs $26.5M Financing

Irvine-based startup device maker JenaValve Technology Inc. said today it completed a $26.5 million found of financing.

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Marriott Boutique Hotel for SJC

Rivendell Land Co. said Marriott International will operate Mission Inn San Juan Capistrano, which is set to break ground by early 2016.

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Thursday, August 6

Autobytel Shares Up On Q2

Shares in Autobytel Inc. in Irvine rose in midday trading as the company surpassed Wall Street’s expectations on revenue for the second quarter of fiscal 2015 ended June 30.

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Midday Stock Roundup

Major indices slumped in midday trading on disappointing quarterly earnings reports by media companies, a rise in jobless claims, and concerns about lower oil prices.

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LH Software Company Gets $3.5M

Laguna Hills-based Centercode Inc. has received $3.5 million in equity financing, according to a filing with the Securities and Exchange Commission.

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UCI Physician Receives $3.1M Grant

UC Irvine Health, the medical enterprise of the University of California-Irvine, said today that Dr. Shaista Malik received a five-year, $3.1 million grant from the National Institutes for Health’s National Heart, Lung and Blood Institute.

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Wednesday, August 5

Disney, Knott’s Owners Post Quarterly Results

The Walt Disney Co. and Cedar Fair Entertainment Co.—owners respectively of Disneyland Resort and Knott’s Berry Farm—posted strong quarterly numbers in reports released after markets closed Tuesday.

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Del Taco Resets $164M Debt

Lake Forest-based Del Taco Restaurants Inc. refinanced $164 million in debt under a new five-year, $250 million credit facility, cutting its borrowing costs by 3 percentage points and its annual interest payments by $5.4 million.

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Clean Energy Misses Q2 Targets

Newport Beach-based Clean Energy Fuels Corp. reported revenue and adjusted profits in the second quarter that missed Wall Street expectations.

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Juice, Food Chain Sets SoCal Growth

Scottsdale-based fast food and juice chain Grabbagreen said it signed an area developer agreement with Oceanside-based ConeHead Investments Inc. for 95 locations in Southern California, including 15 to 20 restaurants in Orange County.

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Habit Shares Down on Mixed Q2

Shares in Irvine-based Habit Restaurants Inc. fell about 7.5% in midday trading Thursday to a market cap of $750 million after a mixed quarterly report Wednesday.

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,097.74.

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Tuesday, August 4

Disney, Knott’s Owners Post Quarterly Results

The Walt Disney Co. and Cedar Fair Entertainment Co.—owners respectively of Disneyland Resort and Knott’s Berry Farm—posted strong quarterly numbers in reports released after markets closed Tuesday.

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Masimo Q2 Beats Projections

Irvine-based patient monitor maker Masimo Corp. today topped Wall Street forecasts with its second-quarter financial results.

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Boot Barn Misses on Earnings

Boot Barn Holdings Inc. on Tuesday after markets closed reported an increase in revenue but fell below Wall Street’s expectation on earnings for the June quarter.

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Newport Corp. to Cut Jobs

Newport Corp. will lay off workers and take other cost cutting measures, the Irvine-based company announced at the close of intraday trading Tuesday, after missing revenue and profit targets for the June quarter.

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First Foundation to Raise $100M

Irvine-based First Foundation Inc. has kicked off an initial public offering of its common stock for $100 million.

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Cox Named to Pasadena Eye Device Maker’s Board

Chris Cox, a former member of the U.S. House of Representatives and chairman of the U.S. Securities and Exchange Commission, is a new board member at Pasadena-based Calhoun Vision Inc.

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Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,096.21.

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3 OC Automakers’ Sales Up in July

Three of the four Orange County-based automakers beat the national sales pace for new vehicles in July, according to New Jersey-based market researcher Autodata Corp.

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Monday, August 3

3 OC Automakers’ Sales Up in July

Three of the four Orange County-based automakers beat the national sales pace for new vehicles in July, according to New Jersey-based market researcher Autodata Corp.

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Ensign Buys in Wisconsin

Mission Viejo-based Ensign Group Inc. said today that it bought 15 assisted living facilities in the suburbs of Milwaukee and other areas in Wisconsin.

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Bicycle Maker Plans Move to OC

Delaware-based bicycle designer and manufacturer Blue Bicycles said it will move to Orange County by the end of the year and that its current chief executive, Steven Harad, has resigned and will remain with the company for 90 days to assist in the transition.

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Toshiba Exec Adds Role

Scott Maccabe, the president and chief executive of Irvine-based Toshiba America Business Solutions Inc., has taken on the same dual role for Toshiba Global Commerce Solutions Inc., which makes installed retail point of sale systems.

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Midday Stock Roundup

The S&P 500 was down 0.7% in midday trading to 2,089.59.

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Confie Buys 3

Huntington Beach-based insurance brokerage Confie has acquired three brokerages on undisclosed terms.

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New Name for Standard Pacific

Irvine-based Standard Pacific Corp. will have a new name following its impending acquisition of Ryland Group Inc.

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New Director at UCI’s Susan Samueli Center

The Susan Samueli Center for Integrative Medicine, part of UC Irvine Health, named Dr. Shaista Malik its director last week.

Bren Puts the Spec in Spectrum

6 ‘Next Gen’ Buildings, 2nd Tower Represent 1 Million SF

­Orange County’s dominant landlord is taking its recent blueprint for high-rise office development in the Irvine Spectrum and turning it sideways.

OC Dealers Among Few to Unveil Toyota Mirai

AUTOMOTIVE: Marketing events rev up hydrogen vehicle

Count Toyota of Orange among the few auto dealerships around the U.S. that will be able to give customers a chance to get a first look under the hood of the new Mirai hydrogen fuel cell electric vehicle, kick its tires, and take it for a spin.

Baden Shifts Duties as Oakley Gets Italian Accent

MANUFACTURING: Firmly in Luxottica fold years after buy

Jim Jannard sold Oakley Inc. to Luxottica Group SPA in Italy for $2.1 billion eight years ago, but it appears the eyewear conglomerate is just now putting the Foothill Ranch-based subsidiary firmly into its fold.

Mirman’s Break; Wang’s Keynote; Martini’s Passing

Publisher Rich Mirman might have caught a break in his bid to boost the OC Register’s value for the remaining investors who took a flyer on Aaron Kushner and Eric Spitz before their vision for the daily proved to be less than 20/20.

$62B Worth of Food for Thought

Wealthiest List Shows Diversity of OC’s Fortunes

Real estate, technology, healthcare, inheritances.

Allergan Sell-Off of Generics Line Adds Weight to Irvine

HEALTHCARE: Drugs for eyes, aesthetics will be more of core

Allergan PLC will “double down on brands” in the wake of a deal to sell off its generic lines—a move that pushes the drugmaker’s Irvine operation further into the spotlight.

Hampton Inn Buy Adds to REIT’s OC Holdings

Apple REIT’s $20M Buy Follows R.D. Olson Deals

An affiliate of Richmond, Va.-based hotel investor Apple REIT Cos. has added another Orange County property to its portfolio.

Industrial Leads Strong Q2 in Inland Empire

The Inland Empire industrial market had robust growth in the first half of the year as tenant demand for space of less than 500,000 square feet continued to propel the market.

Real Estate Deals

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

Greenlaw Partners sold a class A office building in Irvine for $11 million, or about $325 per square foot.

Rumblings Could Live Up to Nicholas’ Ambitious Hopes

Talk Picks Up On Other Potential Bidders

Broadcom Corp. cofounder Henry Nicholas set his hopes high after the Irvine chipmaker announced a $37 billion sale in late May to Avago Technologies Ltd.

Allergan PLC Campaign Appeals to Millennial Women

Encourages Pursuit of Goals, Highlights Pill

Allergan PLC launched a marketing campaign designed to inspire “millennial women to achieve their professional, personal, health, wellness and societal goals,” all while relying on its birth control products.

Octane Tackles Aesthetic Medicine, Dermatology

Upcoming Conference To Focus on Trends, Tech

Orange County healthcare execs are gathering in Newport Beach next month to talk trends and technologies in aesthetic medicine and dermatology at a conference presented by Aliso Viejo-based booster group Octane.

OCBJ Calendar

Aug. 3-12, 2015

This week's business and other event listings.

Summer Sizzles for Highest of the High-End Sales

Seven Sell on Coast For $10M+ During June, July

Six ultra-luxury homes and one property above $10 million sold in June and July: one in Laguna Beach for $14.2 million; two in Dana Point, for $13.5 million and $10.4 million; two in Newport Beach, for $12 million and $10.2 million; and one in Newport Coast for $16 million.

Vizio’s IPO Plan Calls for Wang to Keep Control

MARKETING: Electronics brand aims to raise up to $172.5M

Vizio Inc. cofounder and Chief Executive William Wang will retain control of the brand under a plan to take the TV titan public.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 31

Cypress-based Mitsubishi Motors North America Inc. said it plans to end U.S. production.

OC's Wealthiest

OC's Wealthiest

Abundant Restaurant News Starts Sad, Ends Glad

Chef Departs, Kids Fed, Laguna ‘Reunion’

Lots of Tidbits today: • The sad news: The shock of the month came with the announcement that Bruce Marsh, owner of Little Sparrow, the darling little restaurant in downtown Santa Ana, let chef Eric Samaniego go.

Fastest-Growing Private Companies Wanted for List

ECONOMY: Centerpiece of Sept. 21 Special Report

Is your company growing fast?

Security Software Specialist Raises $42M

Irvine-based security software maker Cylance Inc. raised $42 million in a Series C funding round led by DFJ Growth in Menlo Park.

Health Ed Facilities Provider Aims for IPO

Irvine-based Axis Research and Technologies Inc. recently filed to sell $20 million worth of stock in an initial public offering.

Medical Software Maker Gets $55.4M

Irvine-based Kareo Inc. said it received a $55.4 million investment.

Business Journal Honors Family Firms

More than 250 people attended the Business Journal’s 16th annual Family Owned Business Awards luncheon at Hotel Irvine.

Disney Goes Own Way on Fanfest at Convention Center

ENTERTAINMENT: 65,000 expected for 3-day run of D23

Walt Disney Co. didn’t pitch a single one of its upcoming Marvel or Pixar movies at the recent Comic-Con in San Diego, opting instead to reveal them at its own D23 Expo fanfest in Anaheim next week.