Stories for November 2015

Monday, November 30

UCI to Get $4.7M in Biomarker Study

University of California-Irvine will get $4.7 million in grant money to help predict the onset of Alzheimer’s disease in adults with Down syndrome.

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JWA October Numbers Up Big

John Wayne Airport said passenger volume was up 12.4% and commercial flights rose 7% in October over the same period last year.

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LA Fitness Gets Rival’s Gyms in Ariz.

The Irvine parent of LA Fitness has added 11 gyms in Arizona in an ongoing nationwide expansion plan, according to media reports.

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Depactus Co-Founder Steps Down

Bruce Beach, chief executive and president of Depactus, stepped down from active duties at the San Clemente-based apparel company, “to focus on other pursuits.”

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Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,087.57.

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Real Estate Deals

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

Starbucks Coffee Co. signed a 120-month lease at 23633-23646 Rockfield Blvd. in Lake Forest for $1.2 million.

West OC Industrial Market Dips in Third Quarter

Activity in the West Orange County submarket was down in the third quarter, and net absorption fell into the red.

OCBJ Calendar

Nov. 30-Dec. 9, 2015

This week's business and other event listings.

OC Carmakers Show Their Stuff at LA Auto Show

Beer Bar, Bigger Booths, Other Features Rolled Out

All four Orange County-based automakers had something to present at the Los Angeles Auto Show a couple of weeks ago.

Masimo, China Customer Settle Over Patents, Devices

Companies Also Agree Not to Sue Each Other

Irvine-based Masimo Corp. stopped in its tracks a potential patent battle with one of its original equipment manufacturing customers.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 48

Irvine City Council gave conditional approval for a request by the Anaheim Ducks hockey team to build an ice rinks and training center at Great Park, according to the Orange County Register.

PHILANTHROPY

Newport Beach-based cosmetics company Urban Decay donated $50,000 to Laura’s House to help fund the nonprofit group’s community programs, emergency shelter, and legal advocacy services for domestic violence survivors in Orange County and elsewhere.

Affiliation Commands Attention

Proposed Deal With Providence on Front Burner at St. Joseph

Jim Watson’s work on a pair of complex affiliations for his employer has caught the eyes of his peers in Orange County’s legal community.

Tough Work Leads to Rewarding Job

Experience On Clergy Abuse Cases Help Him Advise on Workplace Issues

Chad Franks is at the top of his field—a young and successful general counsel who leads a team of attorneys at Irvine-based staffing company Decton Group of Cos.

Nekter Ramps Up Franchising for Growth Push

RESTAURANTS: 14 out of 29 new sites in ’16 to be franchised

Nekter Juice Bar Inc. plans to push franchised locations under a growth program it will roll out in January after three years of selling such sites mainly to the juice-and-food chain’s few early franchisees.

Sources Say Job Cuts for Broadcom by Year’s End

TECHNOLOGY: Chipmaker to trim in advance of sale to Avago

Irvine-based chipmaker Broadcom Corp. is expected to make significant job cuts as its $37 billion sale to Avago Technologies Ltd. nears completion, the Business Journal has learned.

Alzheimer’s Outfit Ponders Split; El Sol’s Star

The Insider has picked up on rumblings that the board of directors of the Alzheimer’s Association of Orange County is taking a hard look at whether to stay with the Chicago-based national organization or become independent.

Hyundai’s Got an App for That

TECHNOLOGY: Uses 3-D scan to bring augmented reality to buyers

All 14 current configurations of the Hyundai Sonata that rolled off the assembly line in a manufacturing plant in Montgomery, Ala., were given a little more attention.

Mazda’s Michigan Man

GC Played Key Role as Auto Brand Regained Footing After Ford Split

Shawn Murphy was set on becoming an investment banker until the savings and loan crisis in the late 1980s took his job prospects away.

Allergan Boss: Role for Irvine After Mega Deal

HEALTHCARE: Key to Pfizer’s plan to carve out ‘innovative’ lines

Irvine appears set to remain a hub for a core part of Pfizer PLC after it acquires Allergan PLC in an expected $155 billion deal that would create the world’s largest drugmaker, with more than $60 billion in sales.

OC Retailers Bring Head of Steam Into Holiday

The top 33 shopping centers in Orange County notched a sixth straight year of growth in taxable sales, with an overall performance that suggests the local retail scene is hot heading into the crucial year-end holiday season.

Auto Dealer Sales, Makers’ Staff Up

The 40 largest auto dealers in Orange County combined for $5.3 billion in sales for the 12-month period that ended June 30, based on this week’s Business Journal list.

LBA Latest OC Investor With Eye to Buy in Phoenix

Rumored $275M Deal For 4-Office Portfolio

LBA Realty is in line to buy a big office complex in Phoenix, making the Irvine-based investor the latest Orange County real estate company making waves in that region.

Broadcom Chip Might Be Absent From Latest iPhone

Wi-Fi Chip Possibly In Other Supplier’s Piece

It appears Broadcom Corp. might have lost some coveted positions in the latest iPhone model.

Aim for the Top

Lee Helps ITT Balance Risks and Innovation for Growth

Suzy Lee’s influence at ITT Cannon LLC runs much deeper than running an in-house legal department in three countries.

Heading Off Trouble

Goodwin Guides Oakley to Pursue the Best Contracts It Can

David Goodwin used the term “embedded” to describe his position as general counsel for government and military matters at Oakley Inc. in Foothill Ranch.

Friday, November 27

Midday Stock Roundup

U.S. markets showed light trading volume and took a half-day, closing at 10 a.m., local time, on the day after Thanksgiving.

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Cypress Firm Buys Atlanta Sign Maker

Christie Digital Systems USA Inc., a Cypress-based manufacturer of high-definition movie projectors, acquired Allure Global Solutions Inc. in Atlanta on undisclosed terms.

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Military Contractor Wins $42M Navy Job

Mercury Defense Systems, a subsidiary of Chelmsford, Mass.-based Mercury Systems Inc., was awarded a $41.8 million contract from the U.S. Navy this week.

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Nekter Enters Sacramento

Nekter Juice Bar Inc. said Ohana Juice LLC would open two franchised stores in the Sacramento market.

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St. Joseph Health Signs Agreement with Providence

Irvine-based St. Joseph Health said today it signed a definitive agreement with Renton, Wash.-based Providence Health and Services.

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Wednesday, November 25

St. Joseph Health Signs Agreement with Providence

Irvine-based St. Joseph Health said today it signed a definitive agreement with Renton, Wash.-based Providence Health and Services.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,090.73.

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Tuesday, November 24

Sock Maker Opens First Store

Stance Inc. in San Clemente opened its first retail store, in New York’s SoHo district.

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,090.32.

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Microsemi to Buy PMC-Sierra for $2.5B

Aliso Viejo-based semiconductor maker Microsemi Corp. said it had a “definitive agreement” to acquire Sunnyvale-based semiconductor maker PMC-Sierra Inc. for $2.5 billion in cash and stock.

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Monday, November 23

Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,090.50.

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Allergan Name to Go in $155B Pfizer Deal

Allergan PLC and Pfizer Inc. will merge in a deal worth about $155 billion.

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Data as Driver

San Clemente Software Company ‘Owns Desktop at Dealership,’ Passes $200M in Revenue

DealerSocket wants to be the Amazon.com for the automotive sector.

Musco’s Next Mark; Standing Room Only For Sunwest Forum

Paul Musco is a self-made man who has shown the Midas touch on everything from catalytic converters to big data to Texas oil. Imagine what he’ll do with Oprah Winfrey on his side?

Startup Capitalizes on Other Offerings’ Weaknesses

Cirruspath Targets $10M In Sales With Tidying App

An Irvine startup is getting strong demand from companies it says are frustrated with the functionality of salesforce.com and other customer relationship-management products.

Irvine Developer Gets $23 Million for Anaheim Hotel

Five-Story, 110,000-SF Project Set to Open in ’16

One of the developers planning a hotel for Anaheim’s resort area has gotten a construction loan to get the project under way.

OCTANe Plans Continued Support of LaunchPad Businesses

Will Expand Initiative To Connect Ideas, Investors

Panel discussions and business plan competitions weren’t the only agenda items on deck at the Medical Device & Investor Forum held this month by Aliso Viejo-based group OCTANe.

Innocean Crafts Ads for Hyundai’s Super Bowl Return

Carmaker Plans 4 Spots As NFL Auto Sponsor

InnoceanUSA in Huntington Beach is already working behind the scenes on Super Bowl ads for Hyundai Motor America Inc.

Coastal Lux Home Sales Average 96% of Listing Price

Some Areas Even Higher— Cameo Shores at 98%

One thing appears to remain consistent in Orange County’s dynamic luxury market: Buyers are willing to pay top dollar for the expansive homes and unique estates prevalent in the communities along the coast.

SJC Socks, Apparel Brand Acquired

St. Louis-based Shoes.com acquired socks and apparel brand Richer Poorer Inc. in San Juan Capistrano on undisclosed terms.

Firm Adds Attorneys, Changes Name

Costa Mesa-based bankruptcy law firm Weiland Golden LLP added William Lobel and Alan Friedman as partners and changed its name to Lobel Weiland Golden Friedman LLP.

Software Maker Raises $15.5 Million

Irvine-based Numecent received $15.5 million in Series B funding that included $4.5 million from a previous investor.

5 Honored at OC Business Journal’s General Counsel Awards

Nearly 400 people attended an awards presentation at the Business Journal’s sixth annual General Counsel Awards on Nov. 19 at the Hotel Irvine.

Nonprofit OCTANe Seeks to Expand Prospects for Startups

STARTUPS: Seeks more VC partners; might add own fund

OCTANe’s new strategy to attract investment dollars and emerging companies to the region is showing early returns for Orange County’s vibrant startup and entrepreneurial scene.

Alphaeon Pays $59M for Device Maker

HEALTHCARE: Adds software firm on undisclosed terms

Alphaeon Corp. keeps on making deals.

IBC Apartment Sale Points to New Benchmark

REAL ESTATE: Estimate on per-unit price tops $400,000

A recently built apartment complex has traded hands in what looks to be one of the priciest per-unit deals for a multifamily property in the Irvine Business Complex.

Olen’s Spree: 3 Deals, 3 States, 1,000 Apartments

REAL ESTATE: Portfolio now tops 12,000 residential units

Olen Properties Corp. has spent nearly $200 million to buy three out-of-state apartment complexes this month, adding to a busy year of acquisitions for the Newport Beach-based real estate owner and developer.

Biggest Employers Pick Up Pace on New Hires

ECONOMY: 3.4% hike to 267,243 jobs; Disney keeps No. 1 spot

Orange County’s biggest employers grew their combined work force at the fastest rate in years.

Hip Is Hot: Costa Mesa Retail Center Draws $120M Investment

REAL ESTATE: LA firm buys into Burnham-Ward project off 405

SOCO—the hip mix of furniture, fashion, design and food tenants along the San Diego (405) Freeway in Costa Mesa—has gotten a new ownership structure and a big boost in its valuation.

Blizzard’s Blitz: Classic Games, Movie, Xbox

Blizzard Entertainment Inc.’s evolving strategy is mixing a dose of the past with a dash of the future in the pending launch of a classic games division, more free content, new distribution channels, and a big push into Hollywood.

M&W Market Tightens Further in Third Quarter

The vacancy rate in Orange County’s manufacturing and warehouse sector dropped from 1.9% to 1.8% in the third quarter. It has dropped 18.2% year-over-year.

Real Estate Deals

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

Arch By-The-Sea 222 sold a beachfront multifamily property in Laguna Beach to California LLC for about $7.6 million, or $585,000 per unit.

OCBJ Calendar

Nov. 23-Dec. 2, 2015

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 47

Lost Holdings in Irvine selected former Rip Curl executive Rick Petri as president, a new position.

Friday, November 20

Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,089.64.

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Habit Postpones Holders’ $138M Offering

Irvine-based fast casual burger chain Habit Restaurants Inc. today postponed a secondary offering by shareholders of $138 million in common stock “in light of current capital market conditions.”

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Jobs, Unemployment Rate Up

The unemployment rate in Orange County moved up slightly in October despite an increase in local jobs.

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5 Honored at General Counsel Awards

Some 400 attendees enjoyed dinner and an awards show at the Business Journal’s 2015 sixth annual General Counsel Awards festivities on Thursday evening at the Hotel Irvine.

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Thursday, November 19

Action Apparel Firm Names Exec

Lost Holdings in Irvine selected former Rip Curl executive Rick Petri as president, a new position.

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Bank to Form in OC

A new state-chartered bank has been approved to be established in Orange County.

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Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,084.26.

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Wednesday, November 18

Hotel Irvine Has New GM

Resort industry veteran Jeroen Quint is the new general manager of Hotel Irvine, having joined the hotel last month.

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Microsemi Ups Bid for Chipmaker

Aliso Viejo-based chipmaker Microsemi Corp. increased its bid for PMC-Sierra Inc. this morning to roughly $2.39 billion.

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Midday Stock Roundup

The S&P 500 was up 0.8% in midday trading to 2,066.81.

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ICU Medical Shutters Slovakia Plant

San Clemente-based ICU Medical Inc. will close its manufacturing plant in Vrable, Slovakia, and cut 265 jobs, according to a Securities and Exchange Commission filing.

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Tuesday, November 17

Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,058.32.

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Irvine Cloud Service Gets $15.5M

Irvine-based Numecent received $15.5 million in Series B funding that included $4.5 million from an investor from a previous round.

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Alphaeon to Buy Laser Maker

Irvine-based Alphaeon Corp. said today that it would buy Lensar Inc. for up to $59 million.

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Monday, November 16

New Name Partners for BK Boutique

Costa Mesa-based bankruptcy law firm Weiland Golden LLP has added William Lobel and Alan Friedman as partners and changed its name to Lobel Weiland Golden Friedman LLP.

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Kia to Recall Soul Vehicles

Kia Motors America Inc. in Irvine is recalling 256,459 Kia Soul and Soul EV vehicles, citing the potential for loss of steering, according to the National Highway Traffic Safety Administration.

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Midday Stock Roundup

The S&P 500 was up 0.8% in midday trading to 2,039.04.

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Confie Buys Santa Ana Brokerage

Huntington Beach-based insurance brokerage company Confie has acquired California Insurance Specialists on undisclosed terms.

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SJC Socks, Apparel Brand Bought

St. Louis-based Shoes.com said it acquired socks and apparel brand Richer Poorer Inc. in San Juan Capistrano on undisclosed terms.

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More Interest in Register Parent

Santa Ana-based Freedom Communications Inc. has received a third loan offer to help it maintain operations while it goes through a bankruptcy auction, the company’s attorney said during a hearing held Friday at the U.S. Bankruptcy Court’s Central District of California.

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Blizzard Game Favorite Headed for the Big Screen

‘Warcraft’ Movie to Debut In Theaters Next June

The long-awaited release of the movie version of flagship Blizzard Entertainment Inc.’s franchise game “Warcraft” will hit movie theaters in June.

PHILANTHROPY

Affordable Housing Access Inc. was the main sponsor of the Project Access 10th annual Keys to Success Gala: Start Small, Dream Big.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 46

Marshall B. Ketchum University in Fullerton said Edward Fisher will be dean of its new College of Pharmacy, effective Jan. 4.

OCBJ Calendar

Nov. 16-21, 2015

This week's business and other event listings.

Real Estate Deals

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

The Gudzunas family sold Villa Park Professional Center to NOENA Real Estate LLC for $3.9 million, or about $294 per square foot.

Central, North OC Office Markets Strengthen

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.

Mobilitie's Move

$325M in Funding, Hiring Spree Point to National Network of Small Cell Base Stations

A just-completed $325 million fundraising deal for Mobilitie LLC comes as the Newport Beach-based wireless infrastructure company is gearing up for what it is calling the “largest network deployment initiative in the U.S.”

New Home Takes Upscale Offerings To Phoenix Market

REAL ESTATE: First project outside state resembles Meridian in Newport

The New Home Co. has inked a deal to build an upscale housing project in the Phoenix area, its first development outside California.

China-Based Builder Gets 96 Acres in Lake Forest

REAL ESTATE: Pegged for 626 homes; deal estimated at $190M

A China-based homebuilder looking to diversify its operations into the U.S. has bought a big development site in Lake Forest.

Joint Venture Puts New Light on WD in China

TECHNOLOGY: Follows sale of stake to same company

Western Digital Corp.’s ongoing push into more lucrative storage products geared for corporate customers got a boost last week in another deal with China-based information technology provider and electronics manufacturer Unisplendour Corp.

Irvine Front and Center for Allergan R&D

HEALTHCARE: Kybella seen as next ‘pipeline in a product’ for drugmaker

Allergan PLC’s operations in Irvine appear poised to remain front and center in the drugmaker’s research and development endeavors.

Q&A

Regulations, while they remain a common key challenge for all financial institutions, aren’t the only burden on bankers’ minds. There are other concerns that may be specific to a bank or credit union, including its size, customer base, and other factors. The Business Journal’s Jane Yu asked local bank and credit union executives to discuss their current concerns other than regulations. Their responses touch upon a variety of topics, ranging from data security and competition from online lenders to finding skilled talent and catering to younger generations. Here are edited excerpts of their responses:

Commercial Bank Assets’ Biggest Jump in Decade-Plus

20 Institutions Based Here See 38% Increase to $24.2 Billion

Orange County-based commercial banks have recorded the biggest year-over-year increase in assets in more than 10 years.

Credit Unions Grow Assets Faster in Recent Fiscal Year

25 Biggest Combine For 8% Increase to $18 Billion

The biggest local credit unions have picked up the pace of growth, notching an 8% increase in combined assets to $18 billion.

Feuerstein’s Low Profile, High Impact; Caan-Do at Chapman

Members of OC’s Jewish community are sitting Shiva with the latest passing of a nonagenarian giant.

Report Hints at $1.6B Price for HB Insurance Broker

FINANCE: Latino market specialist now in 17 states

Fast-growing insurance brokerage firm Confie is reportedly on the sales block.

John Hancock Pays $104.5 Million for 5000 Birch

REAL ESTATE: Insurer adds 3rd office building in JWA area

The real estate investment arm of John Hancock Life Insurance Co. has added a pair of office buildings in Newport Beach to its growing local portfolio.

Wastewater Outfit Buys Firm in Canada

Costa Mesa-based wastewater solids reduction and removal company JWC Environmental acquired IPEC Consultants in Canada on undisclosed terms.

Disney Races Forward With Events Business in Anaheim

HOSPITALITY: Weekend runs draw thousands to parks, hotels

A four-day weekend of running events that ended Nov. 15 at Disneyland Resort capped a year of growth for an increasingly important approach it takes to marketing its two parks and 2,400 hotel rooms in Anaheim.

Oculus Backer Leads $30.5M NextVR Round

Laguna Beach-based virtual reality startup NextVR Inc. raised $30.5 million in a Series A funding round that included a mix of sports- and entertainment-related firms.

Startup Gets $6 Million in VC Funds

Irvine-based startup Pop raised $6 million in venture capital funding.

Karma Lands BMW Deal for Components

Costa Mesa-based Karma Automotive notched a deal to integrate BMW components into its vehicles.

Habit Holders to Sell 5.75M Shares for $138M

Shareholders of Habit Restaurants Inc. plan to sell up to 5.75 million shares for an estimated $137.7 million, a Securities and Exchange Commission filing shows.

Saunders Touts Innovation Amid Allergan-Pfizer Chatter

HEALTHCARE: Also talks up leadership on aesthetics

Brent Saunders, chief executive and architect of the “new” Allergan PLC, stayed on the go during a visit to Orange County earlier this month.

ICU Medical Looks to Increase Lucrative OEM Work

Manufacture of Parts For Others ‘Outperformed’

Making parts for other manufacturers is paying off for San Clemente-based ICU Medical Inc.

Webinar Software Provider Adds App-Connecting Tech

AnyMeeting Customers Can Sync With Other Tools

Web conferencing and webinar software company AnyMeeting Inc. in Huntington Beach is using Sunnyvale-based Zapier Inc.’s technology to help customers connect its products to popular business apps, including Salesforce, HubSpot, Constant Contact, Eventbrite, LinkedIn, and more than 400 others.

Western Realco Buys 2nd Fullerton Development Site

8 Acres a Few Blocks From Former Beckman HQ

Western Realco has added another property in Fullerton—and another site with ties to medical testing company Beckman Coulter Inc.—to its industrial development pipeline.

Friday, November 13

SJC Socks, Apparel Brand Bought

St. Louis-based Shoes.com said it acquired socks and apparel brand Richer Poorer Inc. in San Juan Capistrano on undisclosed terms.

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More Interest in Register Parent

The publisher of the Orange County Register has received a third loan offer to help it maintain operations while it goes through a bankruptcy auction.

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Midday Stock Roundup

The S&P 500 was down 0.8% in midday trading to 2,029.41.

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LoanDepot Pulls IPO

LoanDepot Inc. has withdrawn its initial public offering.

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Thursday, November 12

Tradeshow Firm Buys Vegas Event

Emerald Expositions LLC in San Juan Capistrano acquired National Industrial Fastener & Mill Supply Expo from the show’s co-owners, Jim Bannister and Mike McGuire, for an undisclosed amount.

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Freedom Exec Exits for FivePoint

Freedom Communications Inc. in Santa Ana said Steve Churm stepped down from his position as chief revenue officer to join Aliso Viejo-based FivePoint Communities Management Inc. as its new chief communications officer.

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El Pollo Loco Cuts Outlook

Costa Mesa-based El Pollo Loco Holdings Inc. reported mixed results in its most recent quarter and cut its full-year outlook on earnings and same-store sales.

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Midday Stock Roundup

The S&P 500 was down 0.7% in midday trading to 2,060.61.

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Karma to Get BMW Batteries

Costa Mesa-based Karma Automotive has notched a deal to integrate BMW components into its vehicles.

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NextVR Raises $30M

Laguna Beach-based virtual reality startup NextVR Inc. has raised $30.5 million in a Series A funding round led by mix of sports- and entertainment-related firms.

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Wednesday, November 11

$20M Car Auction to Draw 20,000

A car auction at the Anaheim Convention Center that starts tomorrow expects to draw 20,000 attendees and several hundred sellers of classic and antique cars, generating sales of about $20 million by the time the last gavel drops.

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Yogurtland Retools, Hires Four

Yogurtland has hired four executives to lead corporate and regional operations, marketing and brand management following the summer departure of Craig Takiguchi, who led these areas as vice president of brand management.

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Judge: Valeant, Ackman Must Face Insider Suit on Allergan

U.S. District Court Judge David Carter of Santa Ana has declined a request from Valeant Pharmaceuticals International Inc., led by Chief Executive Mike Pearson, and activist investor Bill Ackman to dismiss a lawsuit accusing them of insider trading in shares of Allergan Inc.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,078.66.

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Banc of CA Names Execs

Irvine-based Banc of California named James McKinney its chief financial officer as part of a shuffle that included appointments to newly created chief investment officer and chief strategy officer positions.

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Tuesday, November 10

Broadcom Shareholders Approve $37B Sale

Broadcom Corp. shareholders today approved the Irvine-based chipmaker’s $37 billion sale to Avago Technologies Ltd. in Singapore.

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Bloomberg: Pfizer, Allergan See Saunders as CEO

Drug makers Allergan PLC and Pfizer Inc. are eyeing a plan to make current Allergan Chief Executive Brent Saunders head of a combined company if they reach a takeover deal, Bloomberg Business reported today, citing unnamed sources.

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Ketchum Names Pharma Dean

Marshall B. Ketchum University in Fullerton said Edward Fisher will be dean of its new College of Pharmacy effective Jan. 4.

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Mobilitie Raises $325M in Debt Funding

Newport Beach’s Mobilitie LLC said that it had raised $325 million to fund the deployment of its wireless infrastructure projects.

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Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,079.47.

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PMC Board Behind Microsemi Bid

Chipmaker Microsemi Corp.’s latest cash-and-stock bid to acquire PMC-Sierra Inc. has been deemed a “superior proposal” by the board of the Sunnyvale-based target company.

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Irvine Startup Gets $6M

Irvine-based startup Pop has raised $6 million in venture capital funding. The company develops a mobile application called POPin, which aims to provide a “crowd-solving” platform to enable input sharing among employees, customers and others.

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Kashkari Named Minneapolis Fed President

Neel Kashkari, former Pacific Investment Management Co. executive, has been named president of the Federal Reserve Bank of Minneapolis.

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Monday, November 9

WD, Unisplendour Form China JV

Irvine-based Western Digital Corp. will sell its data center storage systems through a joint venture with Beijing-based Unisplendour Corp. Ltd.

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Olson Out at Wunderman

Dan Olson has left his post as managing director of Wunderman Los Angeles in Irvine.

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Midday Stock Roundup

Major indices declined in midday trading on expectations of a rate hike in December by the U.S. Federal Reserve and concerns about economic growth, with nine of 10 S&P sectors trending lower.

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NB Wealth Advisor in Two Buys

Newport Beach-based wealth management firm United Capital Financial Advisers LLC has completed two acquisitions.

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Habit Holders to Sell $137M in Shares

Shareholders of Habit Restaurants Inc. plan to sell up to 5.75 million shares for an estimated $137.7 million, a U.S. Securities and Exchange Commission filing shows.

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Montage to Manage $60M Indie Hotel

Irvine-based Montage Hotels & Resorts will manage a $60 million hotel in Baltimore being developed by Kevin Plank, founder of apparel company Under Armour Inc., according to the Baltimore Business Journal.

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Quality Systems Names Chairman

Irvine-based Quality Systems Inc. named Jeffrey Margolis its new chairman.

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Hyundai Breaks Out With Luxury Line

AUTOS: Genesis division to share headquarters here

Hyundai Motor America Inc. plans to break out of the pack of Orange County-based auto brands with the launch of a stand-alone division of premium vehicles named after its Genesis luxury sedan.

Chipmakers End Streak of Cuts Amid Combinations

Boost Employment Bases By 4%; None Drop Jobs

The largest chipmakers in Orange County added jobs in the past year amid a wave of industry consolidation that included four companies with local operations.

Voit’s Latest Local Changes Are RiverRock’s Gains

1.5M-SF Management Pact Adds to Strategic Moves

Newport Beach-based RiverRock Real Estate Group Inc. has picked up a sizeable account for its property management business in the latest big change in the operations for Voit Real Estate Services and its affiliated companies.

Office Market Posts Strong Third Quarter

The strong improvements occurring in the Orange County economy have clearly carried over to the fundamentals of the office market here.

Real Estate Deals

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

Accurate Laminated Products signed a 60-month lease at 1826 E. Dawns Way in Fullerton valued at $750,000.

Ad Indicates Another OC IPO Could Be in Making

UST Global Posts Job For Exec With IPO Experience

Aliso Viejo-based UST Global Inc. could be the next Orange County tech company to go public.

Toll Roads of OC to Commuters: ‘Enjoy the Drive’

Campaign Includes Digital, Video, Mobile Ads

The Toll Roads of Orange County launched a new advertising campaign, “Enjoy the Drive,” that highlights the reasons it says people choose toll road: a stress-free drive and predictable commutes.

Clearance for 1 Masimo Device, Good News on 2nd

Oximeter OK’d, EMMA, SET Studies Presented

Masimo Corp., an Irvine-based maker of patient monitors, finished out October on a fast pace.

OCBJ Calendar

Nov. 9-18, 2015; Nov. 19, 2015

This week's business and other event listings.

Feng Shui Principles Key Factors for Chinese Buyers

Younger Generation Proves More Flexible on Philosophy

An August study by the Asian Real Estate Association of America reveals that 86% of native-born Chinese and Chinese-American homebuyers say the ancient philosophy of feng shui will be a factor in the purchase of their next home.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 45

Billionaire hedge fund manager George Soros reportedly pulled the $500 million investment he made about a year ago in a fund managed by Bill Gross at Janus Capital Group Inc.

Irvine IT Provider Bought by PE Firm

Irvine-based IT provider Synoptek LLC was acquired by San Francisco-based private equity firm Sverica Capital Management LLC on undisclosed terms.

LoanDepot Reveals Details of Its IPO

LoanDepot Inc. outlined details of its initial public offering, which appears to value the company at about $2.5 billion.

PennySaver Plans Online Comeback

PennySaver will resurface as an online-only publication in the near future, according to officials of MonetizeMore, a Victoria, Canada-based company that purchased the PennySaverUSA domains and other intellectual property in a bankruptcy auction on Sept. 23. MonetizeMore, founded in 2010, calls itself an ad optimization company.

Chapman U. Gallery in R.D. Olson’s Curriculum

CONSTRUCTION: Builder looks to downshift on hotel work

R.D. Olson Construction is rejiggering its outlook as it renovates an Old Town Orange building into an art museum for Chapman University.

VidCon Adds Gaming for 2016 Show in Anaheim

HOSPITALITY: Online video confab to spill over to Marriott

An annual fan fest and business confab for the online video industry at the Anaheim Convention Center has confirmed its 2016 dates and announced plans to add a gaming component to its schedule, according to the show’s Twitter account and an online trade journal.

Freedom Rings From OC to Boston; Pyott Proves Prescient

What do OC and Boston have in common?

Honor Flight Gives WWII Vets Wings

Breitling, Other Business Backers, Help Fund Trips to Memorial in DC

A crowd of about 350 friends, relatives, and supporters holding signs and waving miniature American flags waited in anticipation as the plane taxied to the gate at LAX. A banner bearing the words, “Welcome Home, Heroes!” claimed center stage.

OC Office Development Gets Serious on Spec for '16

2.5M SF in Works Approaches Prerecession Pace

Developers are taking a much more varied approach to projects planned for Orange County’s office market next year than during the area’s last building boom.

Harrah Sees ‘Whole Package’ in Register Parent’s Turmoil

Developer Part of BK Bid, Could Try Again on Last of Publisher’s Land

Developer Mike Harrah said he remains interested in buying 14.3 acres surrounding the headquarters of the Orange County Register despite an earlier deal for the land falling apart and the newspaper’s parent company’s latest complications.

Bankruptcy Auction Likely to Reveal Register’s Real Value

Filings Indicate Operating Profits Amid Turmoil

Freedom Communications Inc.’s Chapter 11 bankruptcy filing reveals an outfit that’s burdened with debt and court judgments—well short of the assets needed to satisfy a legion of creditors.

PIMCO’s Cupps Announces Retirement

Wendy Cupps, global head of product management at Pacific Investment Management Co., announced plans to retire at year’s end.

Texas Mortgage Firm To Pacific Arts Plaza

REAL ESTATE: Pacific Union to consolidate local offices

Irvine Company has found a tenant for one of its largest empty blocks of office space in the area around John Wayne Airport.

Friday, November 6

Montage to Manage $60M Indie Hotel

Irvine-based Montage Hotels & Resorts will manage a $60 million hotel in Baltimore being developed by Kevin Plank, founder of apparel company Under Armour Inc., according to the Baltimore Business Journal.

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Quality Systems Names Margolis Chairman

Irvine-based Quality Systems Inc. said today that Jeffrey Margolis is its new chairman.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,091.40.

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Tustin Property for Retail, Hoag Projects Near Sale

City-Owned Land Trading For Less Than Nearby Sites

The developers looking to turn a nearly 21-acre parcel at Tustin Legacy into a retail and healthcare project appear to be getting a good price on the city-owned land.

Thursday, November 5

Hotels Drive Disney, Cedar Fair Results

The two companies that own and operate Disneyland Resort in Anaheim and Knott's Berry Farm in Buena Park reported higher revenue and income in their most recent quarters, driven partly by a strong hotel market.

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ICU Medical Beats Street

San Clemente-based ICU Medical Inc. today reported an adjusted third-quarter profit that beat analysts’ forecasts.

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Masimo Surpasses Expectations

Irvine-based Masimo Corp. today reported third-quarter results that exceeded Wall Street expectations.

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ChromaDex in Proctor & Gamble Deal

Irvine-based ChromaDex Corp. said today it signed a joint development deal with Cincinnati-based conglomerate Proctor & Gamble Co.

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Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,100.75.

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Fluidmaster Buys in Turkey

San Juan Capistrano-based toilet tank component manufacturer Fluidmaster Inc. acquired Istanbul-based Key Teknik, a sanitary equipment business with a large market presence in the Middle East and Europe.

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Pimco Global Head of Product Management to Retire

Wendy Cupps, global head of product management at Pacific Investment Management Co., announced plans to retire at the end of the year.

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Wednesday, November 4

Habit Revenue, Earnings Up

Habit Restaurants Inc. in Irvine said after markets closed today that it earned $2.2 million on revenue of $58.6 million in its most recent quarter.

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Midday Stock Roundup

The S&P 500 was down 0.5% in midday trading to 2,099.05.

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Tuesday, November 3

Hyundai Launches Luxury Brand

Fountain Valley-based Hyundai Motor America Inc. today launched a standalone brand of premium vehicles named after its Genesis luxury sedan.

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LoanDepot Sets IPO Terms

LoanDepot Inc. has outlined details of its initial public offering, which appears to value the company at about $2.5 billion.

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Most OC Carmakers Best US Pace in October

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

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JWA, Alaska Add NorCal, Nevada Flights

Alaska Airlines said it would fly from John Wayne Airport to Santa Rosa, Calif., and Reno/Tahoe, Nevada starting in March

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Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,111.50.

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Blizzard Loses 100K Subscribers

Irvine-based Blizzard Entertainment Inc. posted another subscription loss in its flagship World of Warcraft franchise, but the third-quarter drop was overshadowed by Santa Monica parent Activision Blizzard Inc.’s $5.9 billion takeover of King Digital Entertainment PLC.

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PMC Rejects Microsemi Bid

PMC-Sierra Inc. has rejected the latest buyout offer of $2.4 billion from Aliso Viejo-based chipmaker Microsemi Corp.

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Monday, November 2

PMC Rejects Microsemi Bid

PMC-Sierra Inc. has rejected the latest buyout offer of $2.4 billion from Aliso Viejo-based chipmaker Microsemi Corp.

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PennySaver Expected Back Online

PennySaver will resurface as an online-only entity in the near future, according to the officials from MonetizeMore, a Victoria, Canada-based company that purchased the PennySaverUSA domains and other intellectual property in a bankruptcy auction held on Sept. 23.

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Irvine IT Provider Sold

Irvine-based IT provider Synoptek LLC has been acquired by San Francisco private equity firm Sverica Capital Management LLC.

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Midday Stock Roundup

The S&P 500 was up 0.8% in midday trading to 2,095.78.

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Soros Pulls $500M from Gross-Managed Fund

Billionaire hedge fund manager George Soros has reportedly pulled the $500 million investment he made about a year ago in a fund managed by Bill Gross at Janus Capital Group Inc.

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Register Parent Files for Chapter 11

Freedom Communications Inc. filed for Chapter 11 bankruptcy today in the U.S. Bankruptcy Court’s Central District of California.

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Paul's TV Shuts Down

Irvine-based home electronics retail chain Paul’s TV is out of business, according to an announcement on the company’s website.

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El Pollo Loco Maps North Texas

Costa Mesa-based El Pollo Loco Holdings Inc. has chosen the first six sites to start its expansion into North Texas next year, a news report said.

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PHILANTHROPY

Harvesters, which was founded in 1992 to raise awareness and funds for Second Harvest Food Bank of Orange County, hosted its 23rd annual Harvesters Fashion Show & Luncheon Runway Fundraiser on Oct. 7.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 44

Kia Motors Corp.’s logo will appear on player jerseys during the National Basketball Association’s next two All-Star games—in Toronto in 2016 and Charlotte, N.C., in 2017.

OCBJ Calendar

Nov. 2-11; Nov. 19, 2015

This week's business and other event listings.

Real Estate Deals

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

Sanderson J. Ray Development sold a retail property in Laguna Woods to Newport Beach-based DMP Properties for $5.7 million, or about $340 per square foot.

Microsemi Deal for Chipmaker Would Be Its Biggest

$2.2B Offer About 4 Times PMC-Sierra’s Annual Sales

Aliso Viejo-based Microsemi Corp.’s $2.2 billion bid to acquire Sunnyvale chipmaker PMC-Sierra Inc. is the latest deal in the sizzling chip sector, which has already seen record activity this year.

OC Retail Market Improves Modestly in Q3

The Orange County retail market once again saw increases in overall market fundamentals, with minor improvements throughout multiple sectors.

Ad Agency Sets Upcoming Shopping Center Apart

Spots Show HB Affords ‘Real’ Vibe to Pacific City

Pacific City in Huntington Beach is scheduled to open to the public on Nov. 7, according to its developer, DJM Capital Partners in San Jose.

OC Operations Help Danaher Boost Q3 Performance

Local Units Part of 23% Revenue Hike on Dental

Units with an Orange County presence helped drive improved financial performance for Danaher Corp.’s third quarter, according to company executives.

Recent Restaurant Closing No Surprise, Another Sad

Tamarind Dashed Hopes, Scott’s Ends on High Note

Double bombshells hit diners in the past month with the sudden closing of Tamarind of London at Newport Coast and news that Scott’s would be closing at the end of the year.

Chinese Buyer for Life Sciences Supplier

Santa Ana-based MP Biomedicals LLC was sold to Valiant Co. in China for about $134 million.

PE Firm in LA Sells Santa Ana Contractor

Santa Ana-based Secure Technology Co. was sold to Benchmark Electronics Inc. for $230 million in cash by its private equity owner, Vance Street Capital LLC.

Quiksilver Seeks Sale of Shoe Brand

Quiksilver Inc. in Huntington Beach asked a bankruptcy court to approve the sale of its Ampla running shoe brand to a pair of former executives for $200,000.

Software Maker Raises $85M in Round

Irvine-based analytics software maker Alteryx Inc. raised $85 million in a venture capital round led by Iconiq Capital in San Francisco and prior backer Insight Venture Partners in New York. Palo Alto-based Meritech Capital Partners also participated.

Direct Flow Focused on Trio of Strategies for Growth

HEALTHCARE: Europe rollout, Salus trial, mitral valves in plan

Medical device maker Direct Flow Medical Inc., which maintains a Lake Forest manufacturing hub, is pursuing a three-pronged plan for progress under new leadership.

Musco Center Gets Started With Logo

MARKETING: Stylized ‘M’ honors main donors, shows flair

Music has yet to stream through the Marybelle and Sebastian P. Musco Center for the Arts, but Chapman University’s newest addition just played its first visual note—a signature-like logo that fuses outlines of the letter “M” with movements of a conductor’s baton.

New Flag, Renovation for South Coast Metro Hotel

HOSPITALITY: $5M more for ex-Wyndham near Segerstrom

A $5 million room redo and a new brand for the former Avenue of the Arts Wyndham Hotel in Costa Mesa mark the latest upscale moves in a section of the city’s South Coast Metro district anchored by Segerstrom Center for the Arts.

OC-Bound Sports Gear Maker Adds Brand to Fold

MARKETING: Will consolidate Philadelphia-based operation here

United Sports Brands will make its move from the Midwest to Orange County with one more brand in tow.

Octane’s Timely Take; Rome Is the New Beige

Octane does plenty of work to stir the atmosphere and foster an environment where “entrepreneurs, investors, executives, academics, clinicians, and business advisors come together to collaborate, create, and grow.”

Pot Products Maker Grows Like a Weed

Terra Tech Sales Up 754%, Largely On Cannabis Demand Surge

Terra Tech Corp.’s crops of basil, oregano, thyme, parsley and lettuce are a steady line of business, but the Newport Beach-based company’s newer line of products derived from another leafy green is the big growth driver.

Home-Grown

Banc of California Focuses on Service In SoCal for 176% Revenue Growth

Fast growth continues for Banc of California Inc.

Garden Grove Hyatt Draws Chinese Buyer

REAL ESTATE: Shanghai firm paid $137M for 653-room hotel

An affiliate of one of China’s largest construction companies has purchased the Hyatt Regency Orange County in Garden Grove for $137 million.

Telogis Sees Future In Apps Made With Apple

TECHNOLOGY: Mobile products aimed at B2B customers

Aliso Viejo-based logistics software maker Telogis Inc. is placing a big bet on mobile apps in a new partnership with Apple Inc.

Endologix Pays Twice for Fellow Device Maker

HEALTHCARE: $211M deal trims market capitalization by 30% in day

Endologix Inc.’s bid to grow market share through a newly struck deal to acquire a competitor appears to have set investors in the Irvine-based medical device maker on edge.

Homebuilder Tops List After 2 Years Back in Public Market

Industry Watchers Speculate It Could Be Ripe for Consolidation Trend

Improving fortunes in the housing market and a disciplined operating plan have provided a boost to the fortunes of William Lyon Homes Inc. during its return to the public markets.

Fastest-Growing Public Companies Get Faster

Revenue Up 41%, Local Hires Double Overall Economy

Orange County’s fastest-growing public companies got faster this year.

Sunday, November 1

Register Parent Files for Chapter 11

Freedom Communications Inc. filed for Chapter 11 bankruptcy today in the U.S. Bankruptcy Court’s Central District of California.

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