Stories for February 2015

Friday, February 27

Midday Stock Roundup

The S&P 500 was flat at 2,109.98 in midday trading.

Tease photo

Asics Reaches $1 Billion Sales Mark

Asics America Corp. said it surpassed $1 billion in net sales for the first time last year, a 14.9% year-over-year increase, and expects about 14% growth in 2015.

Tease photo

JWA January: More Fliers, Fewer Flights

A trend that has run about six months continued in January at John Wayne Airport as the facility saw increased passenger counts on fewer commercial flights.

Tease photo

DealerSocket Makes Another Buy

San Clemente-based DealerSocket Inc. has acquired a Rancho Santa Margarita company that specializes in software for car dealerships.

Tease photo

Thursday, February 26

Ingram Shares Fall on Outlook

Shares of Ingram Micro Inc. dipped after markets closed Thursday, and continued to decline in midday trading Friday, as the Santa Ana company provided revenue and profit targets in the current quarter below Wall Street expectations.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.1% to 2,111.13 in midday trading.

Tease photo

Emulex Shares Jump on News of Sale

Shares of Emulex Corp. soared this morning in the first trading session since the Costa Mesa-based networking equipment maker announced it would be acquired for $606 million by Avago Technologies Ltd.

Tease photo

Taco Bell to Expand in Japan

A Tokyo-based restaurant operator said it would open franchises of Irvine-based Taco Bell Corp. in Japan.

Tease photo

Iteris CEO Resigns

Iteris Inc. Chief Executive Abbas Mohaddes has resigned from his management and board position to “pursue other opportunities,” the Santa Ana-based company said.

Tease photo

Wednesday, February 25

Midday Stock Roundup

The S&P 500 was up 0.2% to 2,119.11 in midday trading.

Tease photo

Aliso Beauty Products Seller for Sale

Pacific World Corp. in Aliso Viejo is up for sale, according to the Wall Street Journal.

Tease photo

NB IT Firm Buys Broadcast Specialist

Newport Beach IT services provider Bitcentral Inc. has acquired a Connecticut software maker that specializes in broadcast automation systems for the media industry.

Tease photo

Tuesday, February 24

Toba Puts $4M into Kids' Drink Maker

Toba Capital Management in Newport Beach has invested $4 million in Irvine-based True Drinks Inc.

Tease photo

2 OC Hospitals on Top 50 List

Saddleback Memorial Medical Center, with campuses in Laguna Hills and San Clemente, placed among the top 50 hospitals in America, according to review organization Healthgrades Operating Co. Inc.

Tease photo

Solis Gets Stake in Propane Company

Newport Beach-based private equity firm Solis Capital Partners LLC has invested in ICOM North America.

Tease photo

Latino Focus for CSUF Center

The Orange County/Inland Empire Small Business Development Center at California State University-Fullerton plans to focus on Latino-American business owners with its third site here.

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.2% to 2,113.59 in midday trading.

Tease photo

Pyott in Line for $100M Payout

Allergan Inc. Chief Executive David Pyott is in line for a severance payment of $100 million as a result of Actavis PLC’s pending buy of the Irvine-based drug maker, according to a federal filing.

Tease photo

Shorebreak Hotel Sells for $58.5M

Bethesda, Md.-based DiamondRock Hospitality Co. said it has bought the Shorebreak Hotel in Huntington Beach for $58.5 million.

Tease photo

Irvine Software Firm Gets $19M

Irvine-based software company Mavenlink Inc. has raised $19 million in a recent funding round.

Tease photo

Jet Blue Seeks Int’l Flights at Long Beach

John Wayne Airport’s neighbor to the north may add international flights after Long Island City, N.Y.-based JetBlue Airways Corp. asked Long Beach Airport to apply for a federal customs facility, according to a news report.

Tease photo

Monday, February 23

Entrepreneur Media Invests in NY Firm

Entrepreneur Media Inc. in Irvine has invested in AlleyNYC, a company that leases shared work spaces on an hourly basis.

Tease photo

Corinthian: Good News, Bad News

Corinthian Colleges Inc. got a reprieve from the California Student Aid Commission for one of its subsidiaries in the state, but its division in Canada filed for bankruptcy protection there after regulators closed the local campuses, according to news reports.

Tease photo

Disney Names New Parks Boss

Disneyland Resort’s new top executive will be Bob Chapek, said the Walt Disney Co., as it named him chairman of Walt Disney Parks and Resorts today.

Tease photo

Fisker Narrows Name to 3 Options

Costa Mesa-based Fisker Automotive and Technologies Group LLC is mulling three options for a possible company name change, according to a source privy to the discussions.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.2% to 2,105.68 in midday trading.

Tease photo

For-Profit Hospitals Steady in Wake of Federal Reform

HEALTHCARE: Continued role seen for group

Nonprofit hospital affiliations and network creation in the wake of federal healthcare reform have dominated Orange County’s hospital headlines in recent months.

Brea Industrial Project Moves Ahead on Imperial

Clarion, Pacific Industrial Buy Site From Greenlaw

Land in Brea that once held an RV storage facility is on the fast track to hold one of the city’s largest new industrial buildings.

Irvine-Based REIT Discusses Probe of Biggest Tenant

HCP Says Nursing Home Operator Cooperating

Executives at Irvine-based HCP Inc. are standing behind their largest tenant, which is being investigated by the Department of Justice and several other federal agencies.

Mid-Counties Industrial Market Notches Strong Q4

The Mid-Counties industrial market saw a 47% increase in year-over-year gross absorption in the fourth quarter, or nearly 2.5 million square feet compared to roughly 1.7 million square feet.

New Oakley Obsession: Athletes Spreading Passion

Campaign Includes ‘Brand Hubs’ in Big Metro Areas

Oakley Inc.’s new agency of record, Eleven in San Francisco, has come up with a new brand campaign for the Foothill Ranch-based action-sports apparel company.

Legal Job Ad Question: Is Vizio Mulling IPO?

Desired Skills Include SEC Filings, Pre-IPO Know-How

Is Irvine-based Vizio Inc. mulling an initial public offering?

New Scholarship Program at Chapman

The Simon Foundations in Newport Beach and Chapman University in Orange plan to offer scholarships to four high school students a year to major in science, technology, engineering and math (STEM) disciplines.

Octane Head Leaves for San Diego

Matthew Jenusaitis will step down as president and chief executive of Aliso Viejo-based Octane to join the University of California San Diego Healthcare System.

Golden State Plans $40M Alabama Plant

Irvine-based food manufacturer and distributor Golden State Foods Corp. is planning to spend about $40 million to build a meat processing plant in Alabama.

Raj Buys Basta Swim, Beachwear Brand

Raj Manufacturing LLC in Tustin acquired Basta Co., a New York-based swim and beachwear brand. The financial details of the deal were not disclosed.

Buchanan Street Bolsters Portfolio Beyond OC Base

REAL ESTATE: Gets low-rises in SoCal, 10-story Dallas office

Recent deals for three low-rise offices in Southern California capped off an active couple of months for Newport beach-based Buchanan Street Partners, which has also added a 10-story office in Dallas to its portfolio of recent investments.

Harvard Makes Case Study of Hoag Orthopedic Institute

HEALTHCARE: Reform key context for research, report

How is the 5-year-old joint venture between nonprofit Hoag Memorial Hospital Presbyterian and a pair of doctors’ groups going?

Pizza Chain Adds Fast-Casual Version

San Clemente-based Oggi’s Pizza and Brewing Co. plans to mine the fast-casual trend as it also expands its full-service restaurants.

Menlo Buys $60M+ of Offices in South County

REAL ESTATE: Four offices total 365,000 square feet

Menlo Equities LLC has added four more offices to its already sizable holdings in Foothill Ranch and Lake Forest, in a pair of acquisitions valued at more than $60 million.

Allergan Brand Equity Seen as Key to Top Billing

HEALTHCARE: Name better known than buyer in $71B deal

Actavis PLC’s recent decision to take on the name and ticker symbol of Allergan Inc. after it completes its $70 billion acquisition of the Irvine-based drugmaker next month brought plaudits from the local business community, where the move was hailed as a worthy acknowledgment and good business sense.

Pyott’s Victory Lap; New at Modo Mio; Just-Right Joyce

You heard it here first back in November, when the Insider picked up on vibes that Actavis PLC might take the Allergan name once it got its deal for the Irvine-based drugmaker done.

Infill Projects Keep Big and Small Builders Busy

Less Risk, Fast Sales Appeal to Publicly Traded Firms

Orange County’s largest masterplanned developments are driving a bulk of the recent new-home sales in the region, but plenty of builders are also finding success buying land for residential projects off the beaten path.

Mastering the Plan: Share Sales Rise for OC’s Big Three

Irvine Ranch, Pavilion Park, RMV Counter Nat’l Trend

Sales at Orange County’s best-selling masterplanned residential developments showed no signs of slowing last year and are poised for more growth this year, despite a cooling trend across much of the country.

Sales of New Homes Reach 10-Year High

REAL ESTATE: Top builders in area combine to top 4,000 mark in 2014

More than $3.5 billion was spent on new homes in Orange County last year as the area’s busiest builders reported the most sales here in a decade.

Vans Looks to Asia for Next Chapter of Growth

APPAREL: Expects to near $3 billion in sales by 2017

Kevin Bailey’s goals for Vans Inc. seem quite ambitious.

Quality’s New Quantity

Adoption of Electronic Medical Records Prompts Diversification at Software Maker

Quality Systems Inc. has gone from darling to diversification, and the shift in gears looks to be giving the Irvine-based medical software maker and its shares a shot in the arm.

Port Discord Starts to Seep Into OC

ECONOMY: Inventories, air shipments help blunt effects so far

Most Orange County-based companies that rely on seaborne shipments have so far managed to work around the labor dispute that’s jamming West Coast ports.

Real Estate Deals

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

A private investor sold a 20-unit apartment building in Santa Ana to a limited liability company for $3.9 million, or $196,250 per unit.

OCBJ Calendar

Feb. 23-March 4, 2015

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 8

Irvine-based Mazda North American Operations announced the winners of its 2015 Mazda Gold Cup award—four of them based in Orange County.

PHILANTHROPY

Top companies in Orange County have pledged their support to OneOC’s Center for Business and Community Partnerships.

Wanted: Best Places to Work for OCBJ’s List

CALL FOR ENTRIES: Website set to take entries until March 20

Is your workplace great? We want to know.

Friday, February 20

Henry Segerstrom Passes

Henry Segerstrom has died at age 91, after a short illness, according to C.J. Segerstrom & Sons, owner and manager of South Coast Plaza.

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.3% to 2,103.44 in midday trading.

Tease photo

McCulley Leaves Pimco

Paul McCulley has stepped down as chief economist and managing director at Newport Beach-based Pacific Investment Management Co.

Tease photo

Pac Merc Adds Directors

Pacific Mercantile Bancorp has added two directors to its board, including the head of Aviation Capital Group Corp., a subsidiary of Newport Beach-based Pacific Life Insurance Co.

Tease photo

MV Insurance Firm Acquired

Mission Viejo-based E&O Professional Risk Management and Insurance Services LLC has been acquired by Integro Ltd. in New York.

Tease photo

Corinthian Campuses Close in Canada

All of Corinthian Colleges Inc.’s 14 locations in Canada have been shuttered by regulators there, news reports said.

Tease photo

Thursday, February 19

Architect Gives to SC Hospital Effort

Lawrence Armstrong, a San Clemente resident and chief executive of Irvine-based architecture and planning firm Ware Malcomb, said today that his firm will donate $250,000 worth of design and planning services to keep the current Saddleback Memorial Medical Center San Clemente campus open.

Tease photo

St. Joseph Health Boss to Retire

Irvine-based St. Joseph Health said today that longtime Chief Executive Deborah Proctor will retire from her post at the end of 2015.

Tease photo

Octane CEO Headed to UCSD

Matthew Jenusaitis will step down as president and chief executive of Aliso Viejo-based Octane to join the University of California San Diego Healthcare System.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.1% to 2,096.81 midday trading.

Tease photo

Wednesday, February 18

Simon Scholars, Chapman Join Forces

The Simon Foundations in Newport Beach and Chapman University in Orange plan to offer scholarships to four high school students a year to major in science, technology, engineering and math (STEM) disciplines.

Tease photo

Oggi’s to Tap Fast Casual Trend

San Clemente-based Oggi’s Pizza and Brewing Co. has opened an “express” location at the Village at Orange mall, marking the 23-year-old chain’s local entry into the fast-casual, build-your-own pizza arena.

Tease photo

BJs Revenue, Income Up

Huntington Beach-based BJ’s Restaurants Inc. said its fourth-quarter and full-year revenues and profits increased compared with the same periods in 2013.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.3% to 2,094.42 in midday trading.

Tease photo

Top Billing for Allergan Name

The Allergan name will remain the calling card of the company that will be formed after the Irvine-based drug maker’s estimated $69 billion acquisition by Dublin-based Actavis Plc.

Tease photo

ReShape Raises More Money

San Clemente-based device maker ReShape Medical Inc. raised $6.75 million in debt financing, according to a Securities and Exchange Commission filing.

Tease photo

Tuesday, February 17

Kaiser Aluminum Beats Expectations

Kaiser Aluminum Corp. beat Wall Street expectations on revenue and earnings for the fourth quarter and full year.

Tease photo

Golden State Plans $40M Ala. Plant

Irvine-based food manufacturer and distributor Golden State Foods Corp. is planning to spend about $40 million to build a meat processing plant in Alabama.

Tease photo

Masimo Beats on Q4

Irvine patient monitor maker Masimo Corp. reported financial results after markets closed Tuesday that surpassed Wall Street expectations.

Tease photo

Raj Buys NY Brand

Raj Manufacturing LLC in Tustin said it acquired Basta Co. LLC, a New York-based swim and beachwear brand.

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.1% to 2,099.95 in midday trading.

Tease photo

Monday, February 16

HireRight Parent Files for BK

The parent company of Irvine-based employment screening firm HireRight Inc. has filed for bankruptcy protection.

Tease photo

Vans Tops $2 Billion in Sales

Vans Inc. surpassed the $2 billion-mark in sales last year for the first time, according to its parent, VF Corp. in Greensboro, N.C.

Tease photo

Corinthian Cal Grants Stayed

A unit of Santa Ana-based Corinthian Colleges Inc. has had $1 million in Cal Grant payments to students held up after it failed to file required documents that show financial and administrative stability, a news report said.

Tease photo

AtheroNova Shares Down on Debt

Irvine-based drugmaker AtheroNova Inc.’s shares fell sharply Friday after it disclosed that it experienced “an event of default” on a $427,500 loan that triggered defaults on three others.

Tease photo

4 OC Mazda Dealerships Honored

Irvine-based Mazda North American Operations announced the winners of its 2015 Mazda Gold Cup award—four of them based in Orange County.

Tease photo

Midday Stock Roundup

The markets are closed today in observance of the President's Day holiday.

Tease photo

Campaign Celebrates 25 Years of Quiksilver’s Roxy

Lauds ‘Iconic’ Surfers Who Inspired OC Brand

Quiksilver Inc.’s Roxy division is celebrating its silver anniversary by highlighting achievements of its “most iconic” athletes—Lisa Andersen, Kelia Moniz and Stephanie Gilmore—who have collectively won 12 world surfing titles.

Danaher Highlights Beckman, Dental Unit in OC

Cites Continued Core Revenue Growth for Both

Executives of Washington, D.C.-based conglomerate Danaher Corp. highlighted a pair of its businesses with a significant Orange County presence when discussing the company’s 2014 performance.

Wine Rooms Particularly Popular Luxury Amenity

Trulia Review Shows OC Homes Have Most in US

Italian philosopher, astronomer and mathematician Galileo reportedly once said, “Wine is sunlight, held together by water …” —and it appears those who call Orange County home agree with that idea.

New Life for Choice Threads

Former St. John Knits Exec Teams With Tailor to Wealthy

Michael Gray, a former president at family business St. John Knits International Inc. in Irvine, has a new venture on his plate: David August Inc.

Von Karman’s Cluster of Data Centers Could Expand

Menlo Equities Plans To Reconfigure Warehouse

Menlo Equities LLC hasn’t found too much success leasing out its Quintana office campus near John Wayne Airport. But the Palo Alto-based company appears to be seeing strong user interest at an industrial complex it owns next door, thanks to tenants of a different type.

Microsemi Maintains Defense Strength in Rare Deal

Will Resell Rambus IP That Prevents Data Theft

Microsemi Corp.’s latest partnership with Sunnyvale-based Rambus Inc. provides a deeper look into how the company has maintained a strong position in the military and defense markets.

High-Rise Market Gets Fourth-Quarter Bump

Orange County’s high-rise market ended the fourth quarter with increased demand, resulting in 436,778 square feet of positive net absorption.

OCBJ Calendar

Feb. 16-25, 2015

This week's business and other event listings.

Real Estate Deals

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

Robert and Margaret Balmes Family Trust sold an office building in Orange for $2.4 million, or $217 per square foot, to Gor Mnatsakanyan and Andrew Harper.

Sharp Eye

Rosolowski Helped Razor USA Grow Rapidly, Create Better Procedures

Larry Rosolowski joined kick scooter maker Razor USA LLC in 2006 when it was still a budding business.

His Fun and Games: Finance

Discovery Cube’s McGee Embraces Age-Old Admonition to ‘Teach and Delight’

What happens when work is fun? Mike McGee knows.

Sunstone CFO Aids REIT’s Reinvention

Aliso Viejo-Based Hotel Investor Sheds Debt, Gains Leverage

Bryan Giglia has helped Sunstone Hotel Investors Inc. complete a corporate makeover as extensive as any redevelopment the company has undertaken for one of its portfolio hotels.

Vizio Vaulter

CFO Helped Electronics Maker Hit $3.5B in Sales in Tough Market

Kurt Binder knew the books on Vizio Inc. well before he joined the company as vice president and corporate controller in April 2010.

Toba Capital Leads $15M Round in SF

Irvine-based Toba Capital, headed by former Quest Software Inc. Chief Executive Vinny Smith, recently led a $15 million venture capital round for Sauce Labs Inc., a fast-growing provider of cloud-based Web and mobile application testing services.

Startup Armed With Cash to Develop ‘Novel’ Drug

HEALTHCARE: $22M for blindness prevention medicine

San Juan Capistrano-based startup Allegro Ophthalmic LLC is aiming to take on a major cause of blindness and has an enriched war chest to do it with.

Gen. Lyon Helps Mission Buy Apartments for Vets

NONPROFITS: Bigger project could follow

The Orange County Rescue Mission is expected to close this week on two four-unit apartment complexes in Tustin for a reported $533,000 as it plans to pursue a bigger land deal this fall, looking to grow the number of beds it provides by one-third, from about 390 to about 520.

Allergan Name Game; Basombrio Gets Big Case; New Year x 3

Don’t know if this is a case of imprecise phrasing or a clue worth considering when it comes to the fate of the 67-year-old Allergan brand.

Q&A

The wealth management industry is undergoing various changes, ranging from implementation of technology and industry fragmentation to shifting demographics. The Business Journal’s Jane Yu asked Orange County wealth management executives to discuss significant changes they’re anticipating in the near term and how they expect their firms to respond to the changes. Here are edited excerpts of their answers.

Burnham Eyes LB For New Retail Project

REAL ESTATE: Buys Douglas Park land from Sares-Regis

Newport Beach-based Burnham USA Equities Inc. has bought nearly 30 acres of land next to Long Beach Airport where it’s planning one of the largest retail projects in the city in years.

4000 MacArthur Offices Sold to Hines, Oaktree

$100M+ Deal Follows Big Lease for Hyundai Capital

The 4000 MacArthur office complex in Newport Beach has traded hands for more than $100 million, just weeks after the two-building property landed one of the largest tenants on the market.

Career Path Made Her Incipio’s Pick

‘Rising Star’ Winner Trailblazer in Male-Heavy Field

Ann Fong’s 20-year path to her current role as chief financial officer for Incipio Technologies Inc. has had a few setbacks, to say the least—she was a single mom competing in a male-dominated industry, for starters.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 7

OC brands won in nine out of 13 categories at the Aliso Viejo-based Surf Industry Manufacturers Association’s 12th annual Image Awards Thursday at the City National Grove of Anaheim. Winners were:

Friday, February 13

AtheroNova Shares Fall on Debt News

Irvine-based drugmaker AtheroNova Inc.’s shares fell sharply today after it disclosed that it experienced “an event of default” on a $427,500 loan that triggered defaults on three others.

Tease photo

Midday Stock Roundup

The S&P 500 was flat at 2,089.19 in midday trading.

Tease photo

Solis Gets Stake in Lindora

Newport Beach-based private equity firm Solis Capital Partners has acquired an equity stake in Lindora Inc., a Costa Mesa-based provider of weight-loss management programs.

Tease photo

OC Firms Score at SIMA

Orange County brands dominated the Aliso Viejo-based Surf Industry Manufacturers Association’s 12th annual Image Awards Thursday evening, winning in the nine out of 13 categories.

Tease photo

Thursday, February 12

Vacation Rental Tech Firm Gets $5M

Irvine-based travel-technology company BookingPal Inc. got $5 million in a venture capital round.

Tease photo

Montage, Pelican Hill, St. Regis Make Forbes List

Three Orange County resorts have earned Five Star rankings in the Forbes Travel Guide.

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.8% to 2,084.64 in midday trading.

Tease photo

Chronic Tacos Charts Growth

Aliso Viejo-based Chronic Taco Enterprises said it has signed multiunit franchise deals for 12 locations in Colorado, three to 12 locations in Washington, and up to 14 in Arizona.

Tease photo

Wednesday, February 11

Actavis Cutting More Jobs

Actavis PLC will cut more jobs just over the county line in Corona, as it awaits the finalization of its buy of Irvine-based Allergan Inc., according to a state filing.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.4% to 2,061.01 in midday trading.

Tease photo

Broadcom, UCI Plan Tech Tourney

Irvine-based Broadcom Corp. and the University of California-Irvine will produce a one-day technology and entrepreneurship competition on Saturday, Feb. 28 at UCI’s Paul Merage School of Business, Broadcom said.

Tease photo

Tuesday, February 10

Pimco Taps Ex-Morgan Stanley Economist

Pacific Investment Management Co. has tapped former Morgan Stanley chief economist Joachim Fels as a managing director and global economic adviser.

Tease photo

Report: Del Taco Near Sale

Lake Forest-based Del Taco LLC may be bought as early as this week by Chicago-based Levy Acquisition Corp., according to Reuters.

Tease photo

Plaza Bank’s Merger Partner Sells Mortgage Unit

Bank of Manhattan, which is in the process of merging with Irvine-based Plaza Bank, has agreed to sell its mortgage business to Wilshire Bancorp Inc. in Los Angeles.

Tease photo

Taco Bell to Marketing Top 10

Fast Company magazine in New York named Taco Bell Corp. to its top-10 list of most innovative companies of 2015 in advertising and marketing.

Tease photo

Edwards Changes Directors

Irvine-based Edwards Lifesciences Corp. said today that it made a pair of changes to its board of directors.

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.6% to 2,059.68 in midday trading.

Tease photo

Confie Buys in Texas

Huntington Beach-based Confie Seguros Insurance Services has acquired Baja Auto Insurance in Dallas on undisclosed terms.

Tease photo

Monday, February 9

Hotel Sales Spike in 2014

The number of hotels sold in Orange County more than doubled and their dollar value increased five-fold in 2014 compared with a year earlier, according to Irvine-based hospitality consultant Atlas Hospitality Group.

Tease photo

Laser Maker Hits Record Revenue

Irvine-based Newport Corp. after the close of intraday trading reported fourth quarter earnings that beat Wall Street expectations and provided a revenue and profit outlook for the current quarter.

Tease photo

Ensign Meets Q4 Profit Projections

Mission Viejo-based Ensign Group Inc. today reported an adjusted profit that matched Wall Street’s expectations.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.3% to 2,049.81 in midday trading.

Tease photo

Kofax to Halt London Trading

Irvine-based business software maker Kofax Ltd. will delist its shares on the London Stock Exchange next month, the company announced today.

Tease photo

Whale of a Tie-In; NBFF Scores in UK; Doti at Shea Center

Here are a couple of big OC names that make a natural marketing match: Pacific Life and filmmaker MacGillivray Freeman.

Startup Has Broadcom, NFL Vets in Lineup

TECHNOLOGY: Plans to debut audio product in Q2

A startup led by a former engineering head at Broadcom Corp. and a private equity veteran and has attracted an eclectic mix of early investors as it vies for a spot in the crowded accessories market with a high-end smartphone case that also functions as a speaker and charger.

Executive Puts ‘Sole’ Back Into Older Etnies Brand

APPAREL: Taps skate roots, adds divisions to reclaim energy

James Appleby has spent the past two years reclaiming the soul of etnies, one of five labels under Sole Technology Inc.’s umbrella.

Blue Sky Over JWA

OC-Based Charter Services Catch Recovery’s Tailwind

Charter air service is finding friendly skies over Orange County, where demand for private flights has gained altitude in recent months.

Kofax Poised to Sever UK Listing, Go Nasdaq-Only

Ready to Exit London Exchange for Nasdaq

The directors of Irvine-based business software maker Kofax Ltd. are scheduled to vote this week on a proposal to delist its shares from the London Stock Exchange.

Donahue Schriber Latest OC Buyer in Silicon Valley

REIT Buys New Center For Estimated $111 Million

Add Donahue Schriber Realty Group to the growing list of Orange County commercial real estate companies spending big dollars in Silicon Valley.

Analyst Outlook Good for Tenet, Other For-Profits

Credits Bigger Post-Reform Medicaid Enrollee Numbers

Tenet Healthcare Corp. (see story, page TK), which owns three Orange County hospitals, should get a bump this year from increased Medicaid enrollment fueled by healthcare reform, according to one analyst.

Red Digital, Surfer Magazine Team for Wave of Content

12 Photographers Will Shoot With 6K Dragons

Surfer Magazine, owned by San Clemente-based TEN: Action/Outdoor Group, has partnered with Red Digital Cinema Camera Co. in Irvine to put on REDirect Surf 2015.

Chicago Investor’s Buy Ups Bet on Resort Market

REAL ESTATE: $1.4M-per-room sale of Montage an OC record

The Chicago-based investor that was reportedly exploring a sale of its lone Orange County property just 18 months ago has instead added to its local resort holdings.

Pizza Chain Sticks to Recipe on Expansion

RESTAURANTS: Bucks trend of fast-casual, eyes Westminster

John’s Incredible Pizza Co. is in talks to open a restaurant in Westminster Mall as it doubles down on its long-standing family-oriented approach amid the recent popularity of fast-casual restaurants that appeal to food afficianados.

OCBJ Calendar

This week's business and other event listings.

Behind the Badge Business Plan: Keep Cops in Front of Story

Agencies Pay PR Shop to Craft Police Perspective Into Site

Behind the Badge OC has the look and feel of a community news site, with articles that focus on the everyday lives of local men and women.

HCP Back in OC, Big in Bay Area With Campus Plan

REAL ESTATE: Eyes lifescience tenants for 884,000-SF project

A recently returned corporate citizen of Orange County has gotten started on one of the largest office developments under way in California—an 884,000-square-foot project that will mix a hotel and retail space into an office development intended for lifescience companies in the Bay Area.

OC Mortgage Lenders Poised for Strong Run

FINANCE: Nonbank enterprises claim ground in recession’s wake

A number of mortgage lenders in Orange County have readied themselves for what’s expected to be a strong year for home loans.

Big Hospitals’ Profits Drop 21% in Year Through Sept.

28 on List Have Second Down Year in a Row

Pretax profits dropped steeply at Orange County’s largest hospitals during the past year.

PHILANTHROPY

On Jan. 27, the Laguna Beach Community Foundation announced an agreement to manage a $1.1 million endowment for the Boys & Girls Club of Laguna Beach, the largest such agreement in the foundation’s history.

Q&A

Healthcare is more often being delivered outside of traditional hospital walls, a trend that has been driven to some degree by the Affordable Care Act, as well as by technological improvements. Orange County hospitals are no stranger to the shift. The Business Journal’s Vita Reed talked to several hospital executives to discuss outpatient offerings and their purposes. Edited excerpts of their answers follow.

Community Benefits a Must for Private Nonprofits

Law Requires the Hospitals To Assume Social Obligation

More than a few of Orange County’s prominent hospital operators deliver something in addition to their standard healthcare: “community benefits.”

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 6

The company that plans to buy 50 campuses of Santa Ana-based Corinthian Colleges Inc. said it would forgive $480 million in private student loans in exchange for federal approval for the deal, according to a news report.

Real Estate Deals

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

Irvine-based networking gear maker Lantronix Inc. signed a lease for 26,897 square feet of office space at 7535 Irvine Center Drive, Ste. 100, in Irvine. The new space will be used for its corporate headquarters.

Greater LA Market Tightens in Fourth Quarter

The Greater Los Angeles office market finished 2014 strong, posting the highest level of net absorption since 2005. Leasing activity levels during the first half of the year weren’t particularly robust but increased as the year closed.

Friday, February 6

Midday Stock Roundup

The S&P 500 was flat at 2,061.66 in midday trading.

Tease photo

Newport Corp. to Acquire Austrian Company

Irvine-based Newport Corp., which makes lasers and related equipment, is set to acquire a small Austrian company that specializes in ultra-fast laser systems used in scientific and biomedical research.

Tease photo

Chapman Pharmacy School Gets Initial Accreditation

Chapman University said its new School of Pharmacy earned “precandidate” accreditation by the Chicago-based Accreditation Council for Pharmacy Education.

Tease photo

Thursday, February 5

Broadcom Responds to Call for Gender, Ethnic Data on Employment

Irvine-based chipmaker Broadcom Corp. released some race and gender data on its workforce for the first time in response to ongoing requests from civil rights and labor activists.

Tease photo

Aliso Viejo Delivery Company Part of $80M Buy

Aliso Viejo-based meal delivery service Restaurants on the Run is set to be acquired by Chicago-based GrubHub, according to news reports.

Tease photo

Blizzard Posts Strong Q4 on WoW Expansion Release

Irvine-based video game maker Blizzard Entertainment Inc. reported a strong fourth quarter after the close of intraday trading Thursday, with revenue and operating profits rising.

Tease photo

Wienerschnitzel Hires CMO

Irvine-based fast food hot dog chain Wienerschnitzel said it named Doug Koegeboehn chief marketing officer.

Tease photo

JWA Names Interim Chief

John Wayne Airport said the Orange County Board of Supervisors named Lawrence Serafini acting director, following the departure of current Airport Director Alan Murphy.

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.8% to 2,058.14 in midday trading.

Tease photo

Russell to Replace Rogers at PBS SoCaL

Mel Rogers will retire from his post as president and chief executive of Costa Mesa-based PBS SoCaL effective April 30.

Tease photo

5 Take CFO Honors

Executives were honored in five categories last night at the Orange County Business Journal CFO of the Year awards, which drew a crowd of about 600 to the Hotel Irvine.

Tease photo

Wednesday, February 4

TTM Beats on Q4, Gives Outlook

Costa Mesa-based printed circuit board maker TTM Technologies Inc. after the close of intraday trading Wednesday reported fourth quarter revenue and adjusted profits that beat Wall Street expectations.

Tease photo

Allergan Beats Analysts' Expectations

Irvine-based Allergan Inc. Wednesday reported mixed fourth-quarter financial results.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.2% to 2,045.18 in midday trading.

Tease photo

SA Security Firm Grows Retail Side

Santa Ana-based Universal Protection Service has acquired two guard services companies to expand its retail mall business.

Tease photo

Tuesday, February 3

Tenn. Company Adds Aliso Hospital

AAC Holdings Inc., a publicly traded operator of inpatient substance abuse treatment centers, is buying a hospital with a license for 84 beds in Aliso Viejo for $13.5 million, according to a news release.

Tease photo

Edwards Beats Wall Street

Irvine-based Edwards Lifesciences Corp. after markets closed Tuesday reported fourth-quarter financial results that beat expectations.

Tease photo

Mitsubishi January Sales Pace Strong

Orange County-based automakers posted year-over-year sales gains in January, according to New Jersey-based market researcher Autodata Corp.

Tease photo

Corinthian Buyer Offers to Forgive $480M in Loans

The company that plans to buy 50 campuses of Santa Ana-based Corinthian Colleges Inc. said it would forgive $480 million in private student loans in exchange for federal approval for the deal, according to a news report.

Tease photo

Midday Stock Roundup

The S&P 500 was up 1% to 2.039.66 in midday trading.

Tease photo

Ruby’s Plans Fast Casual Expansion

Irvine-based Ruby Restaurant Group Inc. said it wants to add 20 franchises of its smaller “dinette” restaurants in 2015 as part of a bid to bring the casual dining chain into the popular fast casual trend.

Tease photo

Monday, February 2

PennySaver Trims Distribution

Brea-based PennySaver USA will stop delivering local editions of its weekly PennySaver publications to the South Bay and the East Bay areas of Northern California, effective April 15.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.1% to 1,993.20 in midday trading.

Tease photo

Opus Forms Broker-Dealer Arm

Irvine-based Opus Bank has established a broker-dealer subsidiary to support its merchant banking business.

Tease photo

Ex-Sunstone CEO’s Basic Bet: What Goes Up Must Come Down

REAL ESTATE: Hedge-like fund eyes end to strong run for hotels

Ken Cruse, who recently left the top job at Aliso Viejo-based hotel investor Sunstone Hotel Investors Inc., has started an investment company that will try to take advantage of the next downturn in the hospitality industry.

Hyundai Capital Adds 178,000 SF in Airport Area

REAL ESTATE: Entire building at MacArthur and Jamboree taken

Irvine-based Hyundai Capital America Inc. is consolidating a large portion of its sizable local operations at the 4000 MacArthur office campus in Newport Beach.

UST Emerges

Aliso Viejo-Based IT Services Provider Nears $1B Mark With Fortune 500 Clients, Offshore Hubs

UST Global Inc. is on a fast track to becoming Orange County’s next $1 billion company with its aggressive expansion plan in emerging markets around the globe.

Broadcom’s $778M Solution

Chipmaker Puts Price on Plans for Great Park Campus

Irvine-based Broadcom Corp. is investing nearly $800 million for its new headquarters next to Orange County Great Park, according to regulatory filings.

OCBJ Calendar

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 5

Walt Disney Parks and Resorts notified the state Employment Development Department on Jan. 15 that it will lay off 85 employees from a Fullerton location, effective May 29.

Wanted: Best Places to Work for Business Journal’s List

CALL FOR ENTRIES: Website set to take entries until March 20

The Business Journal is working on its annual list of the best places to work in the county.

Banks, Thrift Expand Orange County Deposits by 8%

43 Combine for $84.1 Billion, Mirroring Year-Earlier Rise

Commercial banks in Orange County continued to grow local deposits, notching another 8% increase over the year through June for a total of $84.1 billion.

Q&A

The Business Journal’s Jane Yu asked local bankers what community involvement means to their institutions. This week’s Q&A sheds light on the banks’ current engagement in Orange County beyond compliance with the Community Reinvestment Act, as well as their plans for this year and some of the challenges they see ahead. Executives also discussed some challenges they face in supporting the community. Here are edited excerpts of their responses.

Real Estate Deals

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

Nan-Hsing Cheng sold an industrial building in Placentia to Dayton Family Trust for $2.7 million, or $134 per square foot.

Brewery Snaps Up Property Next to Angel Stadium

Win-Dor Site Once Eyed For 20-Story Office Tower

Golden Road Brewing, a growing craft beer maker based in Los Angeles, has snapped up an industrial building across the street from Angel Stadium for its first Orange County location.

Irvine Startup Seeks Spot in Travelers’ Smartphones

App Gives Details On Locales Via Photo

An Irvine startup launched by two siblings who are University of California-Irvine graduates has launched an iOS app that culls information within seconds on locations, attractions and landmarks with the snap of a photo.

Inland Empire Maintains Momentum in Fourth Quarter

The Inland Empire industrial market had many positive economic signs throughout 2014, an indication the region is still substantially expanding. Growth of tenants has largely propelled the activity.

Comic Star Gives Taco Bell Free Boost on His Show

O’Brien Puts Irish Twist Into Chain’s Test Kitchen

Late-night TV host Conan O’Brien was on a quest to make his IT guru Chris Hayes’ dreams come true with a visit to Taco Bell Corp.’s test kitchen, but he probably did the same for the Irvine-based fast-food chain’s marketing manager, Katie Gardiner.

Pearson Tells of ‘Miscalculations’ in Allergan Pursuit

Valeant CEO Talks To Financial Times

Valeant Pharmaceuticals International Inc.’s chief executive is speaking out on his company’s unsuccessful seven-month pursuit of Irvine-based drugmaker Allergan Inc.

Flurry of Sales Show Off Luxury Market’s Range

One Had Been Held By Same Owner for 40 Years

A recent flurry of luxury home sales illustrated the range—in terms of style and price—of the high-end market in Orange County.

Longtime Eatery Closes After Failed Concept Change

Nieuport 17 Opened in ’70, Changed After 2010 Sale

The word is out: Nieuport 17 in Tustin will close at the end of March after a 45-year run.

USGI Raises $19.5M for Launch of Pose

San Clemente-based USGI Medical Inc. raised more than $19.5 million from equity and debt investors.

SJC Big-Data Firm Gets $10.8 Million

San Juan Capistrano-based search engine Maana Inc. raised $10.8 million, according to a recent filing with the U.S. Securities and Exchange Commission.

Montage Laguna Beach Sells for $360M

Chicago-based Strategic Hotels & Resorts Inc. bought the Montage Laguna Beach for $360 million, the hotel investor said.

ZPizza Brews Up Response to ‘Fast-Casual’ Competitors

RESTAURANTS: ‘Tap rooms’ in works at about 50 locations

ZPizza International Inc. said it will add 50 “tap rooms” at some of its current locations and all new restaurants expected in a franchising push that comes as the 28-year-old chain responds to competition from fast-casual and build-your-own competitors that have blossomed in recent years.

Franchiser Waives $75,000 Fee for Vets

RETAIL: Focus on military members active in past 2 years

Orange-based franchiser Budget Blinds Inc. said it will waive a $75,000 franchise fee for qualified recent military veterans interested in starting their own window covering business.

Chapman Names Entrepreneurship Chief

Chapman University in Orange named angel investor and entrepreneur Shan Steinmark the new director of its Leatherby Center for Entrepreneurship and Business Ethics.

UCI Could Reconfigure Duties for Medical Post

HEALTHCARE: Likely to oversee all of ‘medical enterprise’

The search for a new chief executive for UC Irvine Medical Center will likely take awhile as another key job gets reconfigured.

Mitsubishi Calls Play for Super Bowl in Spanish

ADVERTISING: Gets in game with spots on NBC Universo

Mitsubishi Motors North America Inc. highlighted its increasing focus on the Latino-American market with Super Bowl ads slotted for the Spanish-language telecast of the game on NBC Universo.

When Donald Met Steve; Whitaker Gets Off to Strong Start

A big chunk of the Irvine Company’s operations outside of OC got a lengthy overview in a recent issue of the Silicon Valley Business Journal, which put some meat on the bones of a 25-year process that has seen Donald Bren amass 7,000 apartment units and 4 million square feet of office space in the region.