Stories for October 2015

Friday, October 30

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.

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,093.57.

Tease photo

Thursday, October 29

Sanuk’s Q2 Revenue Down

Irvine-based sandal maker Sanuk USA LLC’s revenue for the second quarter of its fiscal year 2016 decreased 9% to $17.3 million compared to $19 million in the same period last year, according to parent company Deckers Outdoor Corp. in Goleta.

Tease photo

Kia Nets NBA All-Star Deal

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.

Tease photo

Mixed Q3 for Ingram

Irvine-based Ingram Micro Inc. reported a mixed third quarter in a report issued after the close of intraday trading today.

Tease photo

Brandman Puts $2M in Online Ed Co.

Brandman University in Irvine will invest $2 million of its endowment in the company that provides the online platform for a new degree program the school launched last month.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,085.16.

Tease photo

First Johnny Rockets Express in India

The India franchisee for Aliso Viejo-based Johnny Rockets Restaurant Group opened its first express location in that country, according to news reports.

Tease photo

Allergan Shares Up on Pfizer Talks

Shares in Allergan PLC rose about 9% in morning trading after the drug maker and potential partner Pfizer Inc. confirmed the two companies were discussing a merger.

Tease photo

Wednesday, October 28

Quiksilver Seeks to Sell Shoe Brand

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

Tease photo

WD Earnings, Shares Down

Irvine-based Western Digital Corp. said it earned $283 million on revenue of $3.4 billion in its most recent quarter.

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.8% in midday trading to 2,081.56.

Tease photo

Connectifier in $6M Funding Round

Costa Mesa-based Connectifier said it raised $6 million in Series B funding led by Goldcrest Investments LP in Dallas.

Tease photo

Tech Maker Sold for $230M

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.

Tease photo

Plaza Bank Profit Up in Q3

Irvine-based Plaza Bancorp reported $2.1 million in net income for the third quarter, the first full three-month period after its buy of Manhattan Bancorp.

Tease photo

Opus Names COO

Irvine-based Opus Bank has named Jennifer Simmons its chief operating officer and executive vice president.

Tease photo

Irvine Software Maker Gets $85M

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

Tease photo

Tuesday, October 27

Niagara, True Drinks Ink Deal, Smith Injects $3M

Irvine-based True Drinks Holdings Inc. has drawn an additional $3 million investment from Vinny Smith and hired a local bottler to handle its signature AquaBall product, a flavored water with no sugar.

Tease photo

26 OC Franchisers Make List

Twenty-six Orange County-based franchisers are on an annual list of 500 companies ranked according to systemwide sales last year by industry trade magazine Franchise Times.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.5% in midday trading to 2,060.45.

Tease photo

Endologix Shares Dive

Shares of Irvine-based medical device maker Endologix Inc. plummeted today on news of a third-quarter loss.

Tease photo

Telogis Inks Apple Deal

Aliso Viejo-based logistics software maker Telogis Inc. has struck a deal with Apple Inc. to enhance vehicle and workforce related apps for the consumer electronics giant’s line of iPhones and iPads.

Tease photo

Universal Protection Buys ABM Unit

Santa Ana-based security services company Universal Protection Service has acquired ABM Security Business for $131 million.

Tease photo

Monday, October 26

Universal Protection Buys ABM Unit

Santa Ana-based security services company Universal Protection Service has acquired ABM Security Business for $131 million.

Tease photo

JWA September Traffic Up 11%

John Wayne Airport said more than 844,000 passengers passed through its gates in September, 11% more than in the same period last year, when about 761,000 passengers flew in and out of Orange County.

Tease photo

Edwards Beats, Shares Rise

Irvine-based Edwards Lifesciences Corp. reported financial results today that exceeded expectations and sent its shares up in after-hours trading.

Tease photo

Private Equity Seeks Del Taco Exit

Three investors that owned the privately held forerunner of Lake Forest-based Del Taco Restaurants Inc. will sell up to 3.87 million shares in a secondary offering, the fast food chain said.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.2% to 2,071.62.

Tease photo

China Co. Buys Milan Panic's Biomed Firm

Santa Ana-based MP Biomedicals LLC has been sold to Valiant Co., Ltd., in China for about $134 million.

Tease photo

Johnny Rockets to Grow in 3 Markets

Aliso Viejo-based Johnny Rockets Restaurant Group said franchisees have agreed to open 49 locations in Italy, Paraguay and Canada, two of which are new countries for the burger chain.

Tease photo

Opus Q3 Profit Up, Misses Estimates

Irvine-based Opus Bank reported $14.7 million in net income for the third quarter, up 91% from the same time a year earlier.

Tease photo

Microsemi Shops $2.2B Chipmaker Bid as Winner

TECHNOLOGY: Deal would double its debt; dismisses idea of other suitors

Aliso Viejo-based chipmaker Microsemi Corp. is confident its record $2.2 billion bid last week to acquire PMC-Sierra Inc. will stand against competitor Skyworks Solutions Inc.

Financial Advisories Cut Local Representatives By 6%

Top 25 Down to 1,705 Advisers in Past Year

The combined number of local registered representatives at Orange County’s biggest financial advisory firms dropped while the firms boosted their total OC work forces.

Rome-ing Around; Governor Magnet; Kareem & Sandra

The Insider has been in Rome, marveling over the bunch of rustic hilltop settlements that grew into the Eternal City by welcoming talent from anywhere, absorbing and adapting the best that newcomers of all stripes have had to offer over the past 2,700 years

Behr in Santa Ana Invites Consumers to ‘Color a Memory’

Photo Hues Can Be Matched To Colors on Site

Paint maker Behr Process Corp. in Santa Ana invited consumers to upload their old photos and digitally match a color from the picture to a Behr paint color at ColorAMemory.com.

Mid-Counties Industrial Market Tightens to All-Time Lows

The Mid-Counties industrial market, after six consecutive quarters of positive net absorption, is seemingly out of available space.

Quail Street Offices in Newport Beach Get Creative

Bixby Moves to Avalon, BKM Buys Athletic Club

Bixby Land Co. didn’t have to look too far to find its first tenant for a creative-office redevelopment it recently finished in Newport Beach.

Real Estate Deals

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

Heslin Holdings Inc. sold a free-standing retail building in Fullerton to Safeco Corp. for $22.5 million, or about $284 per square foot.

Live VR Stream of Democratic Debate Largely Panned

Observers: Headset Awkward, Limited

NextVR’s live virtual reality stream of the recent democratic presidential debate drew some harsh criticism from tech pundits, leading many to quip the emerging technology isn’t ready for prime time.

Peregrine Broadens AstraZeneca Cancer Clinical Pact

Collaboration Will Include Second Later-Stage Trial

Tustin-based drug developer Peregrine Pharmaceuticals Inc. is expanding its relationship with British drugmaker AstraZeneca PLC.

OCBJ Calendar

Oct. 26-Nov. 4 and Nov. 19, 2015

This week's business and other event listings.

ZIP Codes With Most Active Luxury Home Listings

Laguna Beach Leads Pack With 63 Homes

Laguna Beach ZIP code 92651 was tops in the number of active $4 million-plus real estate listings in Orange County as of Oct. 15, with 63 listings, according to data from Web-based real estate database aggregators Redfin and Zillow.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 43

University of California-Irvine is ranked No. 31 on Bloomberg BusinessWeek’s list of full-time master’s in business degree programs.

Batter Maker Gets $5 Million Investment

Huntington Beach-based Nate’s Food Co. said it will get a $5 million investment over two years from an affiliate of Ridgefield, Conn.-based Southridge LLC.

PE Firm Buys Kitchen Parts Distributor

Newport Beach-based private equity firm Windjammer Capital Investors acquired Heritage Food Service Group Inc., a distributor of replacement parts for commercial kitchen equipment, on undisclosed terms.

Irvine Retail Chain Acquired for $12M

Sherman Oaks-based Cherokee Global Brands acquired Flip Flop Shops in Irvine for $12 million in cash, according to documents filed with the Securities and Exchange Commission.

Kawasaki to Move HQ to Foothill Ranch

Kawasaki Motors Corp. U.S.A. said it will move its North American headquarters from Irvine to Foothill Ranch.

Quiksilver Hires Consultant to Guide Bankruptcy Exit

APPAREL: Staff of 10 to seek liquidity, identify cost cuts

Quiksilver Inc. President Greg Healy is getting one more set of hands to help him navigate the Huntington Beach-based footwear and apparel company through a newly approved Chapter 11 bankruptcy exit plan.

Medical, Diagnostic Product Tester Expands OC Digs

SERVICES: CSA Group hopes to win more customers

Toronto, Canada-based CSA Group is opening a new laboratory in Irvine with the intent of winning more business from the area’s medical device and diagnostic products makers.

Irvine Advertising Agency Rebrands

MARKETING: Shop sells self as LA-quality with less fuss

ELA Advertising in Irvine rebranded itself as EverythingLA, conceding to what it calls a misguided yet common perception that the best creative work comes from major urban hubs the likes of New York, Chicago and Los Angeles.

St. Joseph Moves Investment Recipient to Irvine

HEALTHCARE: Joins software work with that of other startups

St. Joseph Health has moved the technology development arm of a company it invested in from Colorado to Irvine.

Ellipse Aims to Join Wave of 2015 Healthcare IPOs

HEALTHCARE: AV device maker to sell $75M in shares

Ellipse Technologies Inc. is gearing up to test the initial-public-offering waters.

Q&A

Myriad technological tools have taken on increasingly important roles in day-to-day business in the information age, and the industry of wealth advisement is no exception.

Myriad technological tools have taken on increasingly important roles in day-to-day business in the information age, and the industry of wealth advisement is no exception. The Business Journal’s Jane Yu asked several Orange County-based advisers how they now use technology in their everyday operations and in the development of client relationships. Here are edited excerpts of their responses:

Lease Buffs Newport Center’s Financial Luster

REAL ESTATE: Irvine Co. nabs BofA division for new tower

The Irvine Company has landed its largest tenant yet for the new 520 Newport Center office tower next to Fashion Island.

KBS Latest OC Firm To Eye Big Easy Hotels

REAL ESTATE: $51.2M buy comes as $2.3B REIT ramps up

KBS Realty Advisors is the latest Orange County real estate investor looking to invest in New Orleans’ hospitality market, even as the Newport Beach-based company continues to seek deals—and investors—in its own backyard.

No HQ Needed for All-In-the-Family Mexican Chain

Seal Beach Latest to Join Avila’s, Making It an Even Dozen With $30M in Sales

Avila’s El Ranchito now has 12 restaurants under its banner after opening a Seal Beach location in late August, though it lacks one thing: a headquarters.

WD Solidifies Top Hard Drive Position in Whirlwind Week

Scoops Up SanDisk, Gets Long-Awaited HGST Nod

Scoops Up SanDisk, Gets Long-Awaited HGST Nod

Friday, October 23

Allergan Wraps $300M AqueSys Deal

Allergan PLC finalized its purchase of Aliso Viejo-based AqueSys Inc. for $300 million plus milestone payments.

Tease photo

Edwards Works With CareFusion

Irvine-based cardiovascular device maker Edwards Lifesciences Corp. said today that it signed a deal with San Diego-based CareFusion, a BD company, to enable a pair of their respective devices to work together.

Tease photo

Midday Stock Roundup

Stock indices were higher in midday trading powered by China’s central bank cutting interest rates and a technology sector rally and positive quarterly results from Amazon.com Inc., Google parent company Alphabet Inc., and Microsoft Corp.

Tease photo

Newport Beach Tourism Tallies $1B

The city of Newport Beach saw 7 million visitors who spent $1 billion in the 12 months ended June 30, said the city’s destination marketing group Newport Beach & Co.

Tease photo

Pac Merc Swings to Q3 Profit

Costa Mesa-based Pacific Mercantile Bancorp swung to a profit in the third quarter, reporting net income of $321,000 versus a net loss of $385,000 in the same period a year earlier.

Tease photo

Thursday, October 22

Irvine Software Maker Sells Stake

Duke Energy Corp., one of the nation’s largest electric utility providers, has taken a majority stake in Irvine-based Phoenix Energy Technologies.

Tease photo

Quality Systems Sells Hospital Unit

Irvine-based Quality Systems Inc. sold the hospital software division of its NextGen Healthcare subsidiary to Reston, Va.-based QuadraMed Affinity Corp. A purchase price was not disclosed.

Tease photo

BJ's Revenue, Income, Shares Up

Huntington Beach-based BJ’s Restaurants Inc. reported net income excluding one-time gains of $10.5 million on revenue of $229.4 million in its most recent quarter.

Tease photo

Midday Stock Roundup

Major indices were higher in midday trading as the European Central Bank suggested today it could extend or initiate actions at a meeting in December to boost recovery on the continent.

Tease photo

Kaiser Income Up; Revenue Misses

Foothill Ranch-based Kaiser Aluminum Corp. fell short of analysts' third-quarter estimates, though its revenue increased.

Tease photo

Wednesday, October 21

UCI Graduate Business Program Makes List

University of California-Irvine is ranked No. 31 on Bloomberg BusinessWeek’s list of full-time master’s in business degree programs.

Tease photo

Hotel Manager Gets Equity, New Name

Newport Beach hospitality management company Unique Hotels & Resorts added an equity partner and launched a new company, Karas Lifestyle Hotels, to buy and manage properties.

Tease photo

HB's Shorebreak Gets New Staff

The 157-room Shorebreak Hotel in Huntington Beach has hired new management staff following its purchase this year by a Bethesda, Md.-based real estate investment trust.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,024.03.

Tease photo

Kawasaki OC HQ to Foothill Ranch

Kawasaki Motors Corp. U.S.A said it will move its North American headquarters from Irvine to Foothill Ranch.

Tease photo

Allergan Shares Briefly Halted

Trading of shares in Allergan PLC, whose Botox and eye drug hubs are in Irvine, was briefly halted today and are down in midday trading on news involving rival Valeant Pharmaceuticals International Inc.

Tease photo

WD to Buy SanDisk for $19B

Irvine-based Western Digital Corp. plans to buy Milpitas-based SanDisk Corp. for $19 billion in cash and stock.

Tease photo

Ex-Allergan Exec to Investment Bank

Former Allergan executive David Crean will be managing director of the life sciences investment banking group of San Diego investment bank Objective Capital Partners, the bank said.

Tease photo

Tuesday, October 20

Ingram Buys in Latin America

Irvine-based Ingram Micro Inc. is set to acquire Grupo ACAO, one of the largest IT providers in Latin America.

Tease photo

JWA Director Named

The Orange County Board of Supervisors named Barry Rondinella director of John Wayne Airport, effective Nov. 13, replacing Alan Murphy, who retired in February.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,026.82.

Tease photo

Windjammer Buys Kitchen Equipment Parts Distributor

Newport Beach-based private equity firm Windjammer Capital Investors acquired Heritage Food Service Group Inc., a distributor of replacement parts for commercial kitchen equipment.

Tease photo

Monday, October 19

Irvine Retail Chain Bought for $12M

Sherman Oaks-based Cherokee Global Brands acquired Flip Flop Shops in Irvine for $12 million in cash, according to documents filed with the U.S. Securities and Exchange Commission.

Tease photo

Grosses Boost Giving to LA Nursing School

The William and Sue Gross Family Foundation has committed $500,000 to Charles R. Drew University’s Mervyn M. Dymally School of Nursing in Los Angeles.

Tease photo

Del Taco Income Up

Shares in Lake Forest-based Del Taco Restaurants Inc. rose 13% after markets closed Monday, when the fast food chain said income from operations increased 17% to $10.2 million on revenue of $98.6 million in its most recent quarter.

Tease photo

Ellipse Files for IPO

Aliso Viejo-based Ellipse Technologies Inc. filed for an initial public offering with the Securities and Exchange Commission to raise up to $75 million.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,027.78.

Tease photo

Microsemi Bids $2.4B for Chipmaker

Aliso Viejo-based chipmaker Microsemi Corp. has placed a $2.4 billion bid to acquire chipmaker PMC-Sierra Inc., the company said this morning.

Tease photo

HB Food Co. to Get $5M

Huntington Beach-based Nate’s Food Co. said it would get a $5 million investment over two years from an affiliate of Ridgefield, Conn.-based Southridge LLC.

Tease photo

WD Can Integrate $4.8B HGST

Western Digital Corp. received approval from Chinese regulators to integrate its $4.8 billion acquisition of HGST, the Irvine-based disk maker said this morning.

Tease photo

New Moves for Gym Chains

Local Companies Help Lead Industry Innovations in Fitness Workouts

Some of the hottest trends in the fitness industry are being developed in Orange County, prompting several locally based companies, including LA Fitness, UFC Gym and Fitwall, to aggressively expand their brands while offering very different experiences to their members.

PHILANTHROPY

More than 4,000 friends and supporters of California State University-Fullerton gathered on campus for the school’s annual Concert Under the Stars on Sept. 19.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 42

Oaktree Capital Management LP’s turnaround plan for Quiksilver Inc. calls for combining the Huntington Beach-based footwear and apparel company with Australia-based Billabong International Ltd., a “source close to the situation” told the New York Post.

OCBJ Calendar

Oct. 19-28, 2015

This week's business and other event listings.

Real Estate Deals

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

A multitenant industrial park in Orange was sold to a limited liability company in Los Angeles for $10.5 million, or about $100 per square foot.

Allergan to Shed Pair of Off-Campus Offices in Irvine

Marketed For Potential Creative-Office Uses

Allergan PLC has put a pair of office properties it owns in Irvine on the market. It’s the first time Allergan has tried to shed locally owned buildings since its sale to Actavis PLC this year.

Office Construction Sluggish, Industrial Building Plans Up in Q3

Orange County had about 1.1 million square feet of industrial space under construction at the end of the third quarter, with the majority of the projects—849,015 square feet—concentrated in North Orange County.

Fantasy Sports Startup Responds to Industry Inquiry

Tightens Policies in Wake Of NY Probe of Rivals

Aliso Viejo-based startup FantasyAces LLC has changed some internal policies in the wake of a data analysis scandal that has shaken up the nascent and booming daily fantasy sports industry.

Diva Gets It Done

What Opera, Precision Manufacturing Have in Common

Robin Follman-Otta has sung operas alongside Andrea Bocelli and overseen the production of $100,000 acoustic measuring instruments for oil drills.

Allergan’s Irvine Hub Poised for Boost on Appeal to Other Half

HEALTHCARE: Newly acquired double-chin drug hot, mostly for men

The Botox Cosmetic line and other products overseen by Allergan PLC’s hub in Irvine have long been favorites among well-heeled women.

Western Realco Gets Beckman-Coulter Site in Fullerton

REAL ESTATE: Business park would boost city’s industrial base

Western Realco is planning to build a multibuilding business park on land in Fullerton that previously held the headquarters of Beckman Coulter Inc.

Q&A

Dr. Bob Foresman, a local Orange County orthodontist and avid sailor, gathered around the kitchen table with his family and invented the first product of what would become an innovative profitable manufacturer nearly 50 years later.

Campbell’s Gut; APU’s Cheek; Hawkeye’s Ride

Tom Campbell is nowhere near Washington—he’s busy packing his office as dean of the Dale Fowler School of Law at Chapman University in Orange, and seems to be looking quite forward to taking a faculty post early next year with more time for writing.

Panattoni Lands Disney for Anaheim Concourse

REAL ESTATE: One of two largest at 14-building project

Walt Disney Co. has inked a deal to lease one of the largest new industrial buildings built in Anaheim over the past decade to support its local theme park and resort operations.

Another Boost for Irvine-Based Analytics Specialist

TECHNOLOGY: Software from Alteryx in Microsoft’s Power BI

Alteryx Inc.’s latest partnership with Microsoft Corp. opens the door to throngs of potential customers for the Irvine-based analytics software maker in one of the fastest-growing segments in technology.

Monster Energy Duo Invests in Central OC

REAL ESTATE: Tower bought in deal with PRES Cos.

The cash-flush duo that runs Corona-based Monster Beverage Corp. is looking to provide a boost of energy to a high-profile office tower in Orange they’ve just bought.

EON Offers Virtual Reality Content From Irvine HQ

TECHNOLOGY: Users range from NFL player to eye doctor

An Irvine-based software maker’s push into virtual and augmented reality is attracting a mix of new customers that includes eye doctors, engine builders, chemical plant operators and an NFL quarterback.

BlizzCon Gets Sponsor in Windows 10

Windows 10 will sponsor this year’s Blizz-Con, according to Larry Hryb, director of programming for Microsoft Corp.’s Xbox Live.

Irvine Bank to Merge, Branches, HQ to Stay

Irvine-based Commercial Bank of California will merge with Brentwood-based National Bank of California, with CBC being the surviving entity.

Costa Mesa Hotel to Get New Name, Redo

The Avenue of the Arts Wyndham Hotel in Costa Mesa will be renovated and renamed under the Tribute Portfolio of Stamford, Conn.-based Starwood Hotels & Resorts Worldwide Inc.

13 Asics Stores Closed Due to Dispute

Asics America Corp.’s Fashion Island retail store is among 13 locations that licensed operator Windsor Financial Group LLC closed last week following a contract dispute between the companies.

Masimo Executives Outline Positions for Growth

Report: Company Could Develop ‘Third Pillar’

Irvine-based Masimo Corp. executives recently took to the road to share the patient monitor maker’s story with investors as it moves through the eighth year of its 10-year business plan.

Mitsubishi Lays Lancer Evolution to Rest With Honors

Cypress Carmaker to Sell Last Models to ‘Gearheads’

Mitsubishi Motors North America Inc.’s Lancer Evolution—the performance version of its long-standing middle-market sedan—is going out in style.

Friday, October 16

Kia Recalls Some Sorentos

Kia Motors America Inc. in Irvine is recalling 377,062 Sorentos CUVs, citing the potential to unintentionally shift out of park and roll away, according to the National Highway Traffic Safety Administration.

Tease photo

OC Jobs Up, Unemployment Down

Orange County unemployment declined in September as nonfarm employment grew by 3,400 jobs, according to the state Employment Development Department.

Tease photo

Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,024.24.

Tease photo

OC Law Firm Files Class-Action Over Data Breach

Wylie Aitken of the Aitken Aitken and Cohn law firm in Santa Ana filed a class-action suit against Experian Holdings Inc. on behalf of 15 million consumers whose personal and financial information was stolen in a breach of T-Mobile USA Inc. data housed on an Experian server.

Tease photo

Chairman Acquires Majority Stake in Irvine Firm

Venture capitalist and Cie Digital Labs Executive Chairman Anderee Berengian acquired a majority stake in the Irvine-based game app developer and incubator.

Tease photo

Thursday, October 15

Craig Gets Barstow Outlet Center

Newport Beach-based retail developer Craig Realty Group acquired an outlet center in Barstow from Tanger Factory Outlet Centers Inc. in Greensboro, N.C. for $106.7 million.

Tease photo

Developer’s Santa Ana Restaurant Files BK

OM Restaurant Management LLC in Santa Ana filed for Chapter 11 bankruptcy protection on Friday, Oct. 9.

Tease photo

FDA Clears Additional Use for Edwards Sapien XT

Irvine-based Edwards Lifesciences Corp. said today that the Food and Drug Administration approved its Edwards Sapien XT replacement heart valve for aortic valve-in-valve procedures.

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.9% in midday trading to 2,012.44.

Tease photo

Irvine Bank to Merge

Irvine-based Commercial Bank of California will merge with Brentwood-based National Bank of California, with Commercial Bank the surviving entity and the headquarters remaining in Irvine.

Tease photo

Wednesday, October 14

UCI Institute Gets New Name

University of California-Irvine has change the name of its Institute for Innovation to Applied Innovation.

Tease photo

Costa Mesa Wyndham to Go Boutique

The Avenue of the Arts Wyndham Hotel in Costa Mesa will be renovated and renamed under the Tribute Portfolio of Stamford, Conn.-based Starwood Hotels & Resorts Worldwide Inc.

Tease photo

Emerald Buys 2 Conference Series

Emerald Expositions LLC in San Juan Capistrano said it acquired the How Design Live and How Interactive Design conference series from New York-based F+W Media Inc. for an undisclosed sum.

Tease photo

Asics Company Stores Close

Asics America Corp.’s Fashion Island retail store in Newport Beach is among 13 company stores that licensed operator Windsor Financial Group LLC closed this week following a contract dispute between the companies.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,000.07.

Tease photo

Montage Cabo Groundbreaking Set

The developer of a resort in Los Cabos, Mexico, set to be run by Irvine-based Montage Hotels & Resorts, said it would break ground on the project in December.

Tease photo

Tuesday, October 13

Ingram Micro in $175M Dutch Ecommerce Buy

Irvine-based Ingram Micro Inc. will buy two ecommerce fulfillment divisions of Netherlands-based DocData BV for $175 million.

Tease photo

Allergan’s Kythera to Lay Off 117

Kythera Biopharmaceuticals Inc. is cutting 117 workers – or more than half its workforce – after its acquisition earlier this month by Dublin, Ireland-based drug maker Allergan PLC in an all-cash deal valued at some $2.1 billion, according to a state filing.

Tease photo

Placentia Food Maker Acquired for $444 million

Sunrise Growers Inc. in Placentia was sold to Sun-Opta Inc. for about $444 million by its private equity owner Paine & Partners LLC.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,011.01.

Tease photo

St. Joseph Health Puts $10M in Software Maker

Irvine-based St. Joseph Health has invested $10 million to expand its partnership with Boulder, Colo.-based Datu Health.

Tease photo

Monday, October 12

PacLife Chief, Pimco Co-founder Gerken Dies

Walter Gerken, the former chairman and chief executive of Pacific Mutual Life Insurance Co. and a co-founder of Pacific Investment Management Co., has died at age 93, Pacific Life said.

Tease photo

Oaktree Set to Combine Quiksilver, Billabong

Oaktree Capital Management LP’s turnaround plan for Quiksilver Inc. calls for combining the Huntington Beach-based footwear and apparel company with Australia-based Billabong International Ltd., a “source close to the situation” told the New York Post.

Tease photo

Microsoft to Stream BlizzCon Opener

Windows 10 will sponsor this year’s BlizzCon, according to Larry Hryb, director of programming for Microsoft Corp.’s Xbox Live.

Tease photo

Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,015.14.

Tease photo

UCI Campaign Hits $1B

University of California-Irvine said at its annual UCI Medal Awards ceremony Saturday that it had reached its goal of $1 billion in gifts and pledges for a 10-year capital campaign that started in 2005.

Tease photo

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 41

Disneyland raised prices for annual passes for the second time in less than a year.

Name Game at Montage; Gillman Shows for Cove

Can’t blame anyone for doing a double take on the lineup for the Oct. 19-21 run of the Wall Street Journal’s All Things Digital conference at the Montage, where Apple CEO Tim Cook gets top billing and a star-studded undercard includes Tony Hsieh and Chris Cox.

OC-China Culture Club

Assimilation, Influence Hallmarks of Community Here

You won’t find a typical Chinatown in Orange County—no ethnic concentration with block after block of storefronts offering goods for new immigrants from the world’s most populous country or tourists anxious to brush up against an outpost of its culture.

McLarand’s 2-Way Street

Architect Worked China During Recession, Carves Niche as Guide for US Projects

Carl McLarand went to China to find a way through the Great Recession.

Some Irvine Co. Offices To Go ‘Behind the Meter’

REAL ESTATE: ‘Biggest deal ever’ to use grid-feeding batteries

The Irvine Co. has signed on to a cutting-edge energy storage project that will transform nearly two dozen of its highest profile offices in the Irvine Spectrum and John Wayne Airport area into hybrid electric buildings over the next year.

OC Execs Maintain Tempered View of Q4

ECONOMY: Slight gain after Q3 dropoff for CSUF Index

Orange County business owners and executives have trimmed their outlooks for the local economy entering the fourth quarter, with mixed expectations that add up to a slight gain after a dropoff registered for the prior period, according to the latest quarterly index by California State University-Fullerton’s Mihaylo College of Business and Economics.

Will Hyundai Add Truck to Lineup?

AUTOS: Fountain Valley HQ hopes for OK from South Korea

This week’s Orange County International Auto Show might mark the final appearance of the Hyundai Santa Cruz as a concept vehicle and raise the curtain on a new era for the brand’s Fountain Valley-based U.S. operations.

Big Data Becomes Big Initiative at Local Campuses

Programs, Research Added to Meet Increased Demand

Orange County colleges and universities are launching and expanding programs in big data to train students to capture and analyze the reams of information that’s become available in an age when data storage capacity has ballooned.

Grant, Dolls and Gaming Link Commerce, Creativity

Schools Teach Students To Turn Inspiration Into Work

Chapman University plans to open a business incubator for arts and culture-based enterprises at the end of a two-year, $200,000 grant the European Union awarded the school last month.

MBA Programs’ Numbers Down in Strong Economy

Specialization, Speed Enhance Schools’ Efforts

Numbers are down in the Business Journal’s annual survey of MBA programs that serve Orange County—and that’s a good thing.

Condos Now Proposed for Fashion Island Carwash

REAL ESTATE: 49 units would be latest for-sale project

Land in Newport Center that holds a carwash and that was once eyed for a boutique hotel now is being considered for a condominium project.

Incubator to Back, Build Female-Led Startups

ECONOMY: Chapman-based group led by serial entrepreneur

Orange-based incubator and start-up accelerator Chicklabs Inc. has considerable goals: launch female-led and owned businesses, make a name for itself in the niche market of consumer products, and mentor Chapman student-entrepreneurs in the process.

Moshayedi Scores on Retail Rebound in IE

REAL ESTATE: $147M price for Chino Hills center up 55%

A bet on the Inland Empire retail market in 2010 has paid off well for MX3 Ventures, a Newport Beach real estate investor with ties to former Santa Ana-based storage device maker STEC Inc.

Strathspey Crown Pegs Pensions As Next Offering to Doctors

HEALTHCARE: Irvine parent taps banking vets for NY office

Newport Beach-based private equity fund Strathspey Crown Holdings LLC is keeping its focus on healthcare even as it plans to get into the financial management arena through a new subsidiary.

New Spectrum-Area Event Facility Puts on the Glitz

ECONOMY: Gensler-designed center to have capacity for 1,000

A longtime area special-events producer is pulling out all the stops for a meeting and events venue that’s being built in the Irvine Spectrum.

Hurley Founder Retires, Nike Vet in Spot

Hurley International LLC Chief Executive and Founder Bob Hurley is retiring, according to parent company Nike Inc.

Thomas Returns to Tilly’s As Chief Exec

Tilly’s Inc. in Irvine appointed Edmond Thomas, former chief executive of Foothill Ranch-based Wet Seal LLC, president and chief executive, effective Monday.

St. Joseph Hoag, Cigna Offer Health Plans

Irvine-based St. Joseph Hoag Health said that in January it will introduce health plans developed with insurer Cigna Corp.

ICU Medical Acquires NJ Device Maker

San Clemente-based ICU Medical Inc. said it’s buying Excelsior Medical Corp. in Neptune, N.J. for $59.5 million.

‘Pocket’ Listings on Rise in OC’s Luxury Market

Non-MLS Sales Thrive in Hot Market, Afford Privacy

Real estate experts say “pocket listings”—private, off-market listings that don’t appear on the local Multiple Listing Service—are surging in the luxury market.

Unisplendour WD Deal Sets OC-China Benchmark

$3.8B Minority Stake Could Be Biggest Ever

Unisplendour Corp. Ltd.’s $3.8 billion minority stake in Irvine-based Western Digital Corp. is believed to be the largest single investment a China-based company has made in a local company but still trails some other blockbuster deals initiated by foreign investors.

Boston Scientific Likes Innovation Institute Number

Device Maker’s Head Says It Likes Multiple Partners

The Innovation Institute LLC’s “multiple constituents” were a major factor in Boston Scientific Corp.’s move to be its inaugural medical technology partner, according to a company executive.

Kia Sets Up for Touchdown With New Sorento Ads

Spots Take Advantage Of Biggest Primetime View

Kia Motors America Inc. in Irvine is promoting its 2016 Sorento crossover in a new marketing campaign that’s airing during “NBC Sunday Night Football” broadcasts.

Inland Empire Market Gains in Q3

The Inland Empire industrial market continued to flourish in the third quarter with activity and tenant demand strong in almost every size range.

Rare Commercial Deal in Pricey Corona del Mar

2-Building Office-Retail Space Nabs $734 PSF

A pair of office and retail buildings on East Coast Highway in Corona del Mar has traded hands at what’s been described as a record price for the area.

Real Estate Deals

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

Milk Barn Ventures sold an office building in Orange to Ball Road Corp. for $3.1 million, or about $80 per square foot. The 39,329-square-foot building is at 1085-1095 N. Main St. The two-story property, Coronado Plaza, is 90% occupied, according to real estate brokerage firm Lee & Associates Commercial Real Estate Services Inc. Allen Buchanan and David Newton of Lee & Associates represented the seller and buyer.

OCBJ Calendar

Oct.12-21, 2015; Nov. 5, 2015

This week's business and other event listings.

Saturday, October 10

UCI Campaign Hits $1B

University of California-Irvine said at its annual UCI Medal Awards ceremony Saturday that it had reached its goal of $1 billion in gifts and pledges for a 10-year capital campaign that started in 2005.

Tease photo

Friday, October 9

Midday Stock Roundup

The S&P 500 was down 0.2% to 2,010.25.

Tease photo

Thursday, October 8

LoanDepot Files for IPO

Foothill Ranch-based mortgage lender loanDepot Inc. has filed for an initial public offering with the Securities and Exchange Commission.

Tease photo

Midday Stock Roundup

The S&P 500 was flat in midday trading at 1,995.32.

Tease photo

Bill Gross Sues Pimco for $200M

Bill Gross sued Pacific Investment Management Co. on Thursday seeking at least $200 million, news reports said.

Tease photo

St. Joseph Hoag, Cigna to Offer Plans

Irvine-based St. Joseph Hoag Health said today that in January it will introduce new health plans developed with insurer Cigna Corp.

Tease photo

Wednesday, October 7

SA Manufacturer Bought by PE Firm

Santa-Ana based Garrison Manufacturing Inc. was acquired by Menlo Park-based private equity firm Salt Creek Capital.

Tease photo

Tilly’s Taps Ex-Wet Seal CEO

Tilly’s Inc. in Irvine has appointed Edmond Thomas, former chief executive of Foothill Ranch-based Wet Seal LLC, its president and chief executive, effective Oct. 12.

Tease photo

Pyott Gives $6.5M to Alma Mater

David Pyott, retired chief executive of Allergan, has donated 4.3 million pounds, or $6.5 million, to the London Business School.

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.6% to 1,992.16.

Tease photo

Hurley Founder to Retire

Hurley International LLC Chief Executive and Founder Bob Hurley is retiring from the company, according to parent company Nike Inc.

Tease photo

NB Investor Gives $50M to Hoyas

Peter and Susan Cooper have pledged $50 million to Georgetown University in Washington, D.C. for athletics and leadership projects, the school said.

Tease photo

Tuesday, October 6

Taco Bell Sales Up in Quarter

Taco Bell Corp.’s sales rose 7% in its most recent quarter, leading the way for parent Yum Brands Inc.’s fast food chains and outpacing Yum's overall results.

Tease photo

Swiss Money Manager Buys Taco Bell Franchisee

An investor in Switzerland has bought a majority stake in one of the largest franchisee groups for Irvine-based Taco Bell Corp.

Tease photo

Irvine Hedge Fund to Start Family Office

Irvine-based hedge fund manager John Brynjolfsson said he’s planning to close the fund to outside investors and become a family office.

Tease photo

Dana Point Firm Has 5% Stake in LA Times’ Parent

Dana Point-based hedge fund Mount Flag Media Investment LLC recently disclosed it has acquired a 5% stake in Chicago-based Tribune Publishing Co., according to documents filed with the Securities and Exchange Commission.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 1,978.82.

Tease photo

Hyundai Recalls 470,000 Sonatas

Hyundai Motor America Inc. in Fountain Valley plans to recall about 470,000 Sonatas over a condition that might cause engines to stall, according to the U.S. National Highway Traffic Safety Administration.

Tease photo

Monday, October 5

Hyundai Recalls 470,000 Sonatas

Hyundai Motor America Inc. in Fountain Valley plans to recall about 470,000 Sonatas over a condition that might cause engines to stall, according to the U.S. National Highway Traffic Safety Administration.

Tease photo

OC Weekly Moves to TechSpace

OC Weekly has moved its office to TechSpace Costa Mesa at 3420 Bristol Street, a shift of about two miles that came after its lease for a larger space on Red Hill Avenue expired.

Tease photo

ICU Medical Buys N.J. Company

San Clemente-based ICU Medical Inc. said today that it was buying Excelsior Medical Corp. in Neptune, N.J. for $59.5 million.

Tease photo

Allergan, Humana Teaming Up on Research

Allergan PLC, whose eye drug hub is located in Irvine, said today that it will collaborate with Louisville, Ky.-based insurer Humana Inc. on research that will include glaucoma and other eye diseases.

Tease photo

Chapman Gets $3M for Autism Work

Chapman University got $3 million from the William S. and Nancy E. Thompson Foundation for autism research.

Tease photo

Midday Stock Roundup

Major stock indices were higher in midday trading amid strength in oil prices and investor sentiment that an interest rate hike in the U.S. was less likely.

Tease photo

UCI in $50M Water-Energy Project

The University of California-Irvine is part of a team that will study water use and energy production under a $50 million grant.

Tease photo

New Boss for Aston Martin in Irvine

Aston Martin Lagonda Ltd., a British automaker that has its Americas region headquarters in Irvine, hired Laura Schwab to run its operations here.

Tease photo

Emulex Campus Next in Line for Creative Office Makeover

REAL ESTATE: Upgrade, possible addition to 3-building campus

The new owner of Emulex Corp.’s headquarters in Costa Mesa is planning a creative-office redevelopment of the existing three-building campus, with additional ground-up development on excess land at the property a possibility.

Insurance Brokers Continue Revenue Gains for 5th Year

Biggest Firms Combine For $570M, Up 13%

Orange County’s insurance brokers grew for the fifth straight year, notching a 13% increase in combined revenue last year.

WD Stake Pushes OC-China Ties to New Level

TECHNOLOGY: $3.8B deal catches Wall Street by surprise

China continued to make waves in Orange County last week with a $3.8 billion deal that will give Unisplendour Corp. Ltd. a 15% stake in Irvine-based Western Digital Corp.

Innovation Institute Adds Device Maker to Roster

HEALTHCARE: Collaboration to include Boston Scientific

The La Palma-based Innovation Institute LLC has landed another collaborator in its quest to foster the development of medical products and services intended to reduce costs and promote quality of care.

Sunstone Gets $26.5M for Purchasing Portal

An affiliate of Aliso Viejo-based Sunstone Hotel Investors Inc. got $26.5 million on the sale of the hotel REIT’s online purchasing portal for hospitality products and services to Avendra LLC in Rockville, Md.

Simply Simon

‘Real Success Is Achieving What Others Believe to Be Impossible’

Ronald Simon started small.

Frost’s Full House

Campus Approach, 24 Startups in San Juan Capistrano

Defining Frost Data Capital isn’t easy, says Stuart Frost, a serial entrepreneur who founded the San Juan Capistrano-based company to invest in startups focused on “big data.”

Healthy Innovation Record

Edwards Lifesciences Exec Helped Bring Breakthrough Valve to Market

Stanton Rowe’s nearly 40-year career in medical devices has been one of intersection and innovation. He has played a crucial role in the development of what’s considered one of the major advances in replacement heart valves.

Inexperience as Edge

5.11 Tactical Cofounder Lends Ear, Designs to First Responders

Francisco Morales, cofounder of the specialty clothing and gear manufacturer 5.11 Tactical in Irvine, credits his success as an innovator to two seemingly disparate attributes—technical capability and inexperience.

Morris in Motion

Telogis Hooks Up With AT&T on Software for Automakers

Telogis Inc.’s new deal with AT&T Inc. marks another significant turn for the Aliso Viejo-based logistics software maker under the leadership of co-founder Newth Morris.

New Chefs, Enriched Eateries Offer Fresh Opportunities

Bistro Comes Into Its Own, Plus OC’s Best Indian Food

I mentioned two months ago that Little Sparrow in downtown Santa Ana had parted ways with its chef.

Alliance Executives Talk Investors, Update Business

Note Owner Change With Chinese Firm Share Buy

Newport Beach-based Alliance HealthCare Services Inc. executives recently gave shareholders an overview of the recent change in majority ownership and several other matters.

Real Estate Deals

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

Makoil Inc. sold an office building in Lake Forest to Habor Associates LLC for $5.5 million, or about $153 per square foot.

High-Rise Office Market Logs Healthy Second Quarter

The high-rise office market in Orange County ended the second quarter with steady demand, resulting in 69,314 square feet of positive net absorption.

Asics Taps Bloggers to Run NYC Marathon in Its Shoes

Webisode Series to Chronicle Trials, Errors

Asics America Corp. has flipped the journalism adage, “Report the story, don’t become part of it,” on its head.

OCBJ Calendar

Oct. 5-14, 2015

This week's business and other event listings.

PHILANTHROPY

Big Brothers Big Sisters of Orange County held its 51st annual Gourmet Dinner on Sept. 17 at the Balboa Bay Resort in Newport Beach.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 40

The former Fisker Automotive and Technology Group is now Karma Automotive.

Albertsons Plans Chilly Expansion in Irvine Spectrum

Distribution Center Project Could Start in November

The Irvine Spectrum’s industrial market is about to get a little cooler, and a creative-office redevelopment isn’t the cause this time around.

Wang’s Way

Business Failure Led Vizio Co-founder to ‘Innovate Myself Out of This Situation’

William Wang owes as much to his failures as his successes.

Rare Investment Method Behind MTAB Acquisition

Search Fund Acquires Local Software Maker

Poplar Capital Partners LLC’s recent buy of Yorba Linda-based business software maker mTAB LLC was backed through a rarely used investment mechanism: a search fund.

Status Update on Irvine Company Retail

Fashion Island Sidles Up to South Coast Plaza; A+ for Irvine Spectrum

The Irvine Company’s efforts to ensure its retail properties remain relevant to today’s click-happy shoppers have gotten noticed—and not only by the locals who descend en masse to the Irvine Spectrum Center on weekends or the well-heeled tourists flocking to Fashion Island.

CalAtlantic Goes With Irvine Over Westlake Village

REAL ESTATE: Expects to set up similar corporate hub on East Coast

Irvine has gotten the nod over Westlake Village in the merger of Standard Pacific Corp. and Ryland Group Inc.

Q&A

Consolidation among insurance brokerages continues at a pace that had a recent Deloitte report identifying “serial acquisitions” as the “core driver of brokerage growth.” The Business Journal’s Jane Yu asked Orange County brokerage executives to share their thoughts about the consolidation trend. They discuss some key factors that are contributing to the mergers and acquisitions activity, such as low interest rates and increasingly complex regulations, as well as risks that come with the changes. Here are edited excerpts of their responses.

Friday, October 2

New Boss for Aston Martin in Irvine

Aston Martin Lagonda Ltd., a British automaker that has its Americas region headquarters in Irvine, hired Laura Schwab to run its operations here.

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 1,928.90.

Tease photo

Confie Buys 4

Huntington Beach-based insurance services company Confie has acquired four insurance brokers in three states.

Tease photo

Phone Applicants’ Info Stolen in Experian Theft

Experian PLC said one of its business units “experienced an unauthorized acquisition of information from a server” containing data related to client T-Mobile USA Inc. in Bellevue, Wash.

Tease photo

Thursday, October 1

OC-Based Automakers’ Sales Up

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

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.5% to 1,909.85.

Tease photo

FDA Clears Allergan’s Juvéderm Filler for Lips

The U.S. Food and Drug Administration today approved Allergan PLC’s Juvéderm Ultra XC for lip augmentation in adults who are at least 21 years old.

Tease photo

Pacific Premier to Buy in Riverside

Irvine-based Pacific Premier Bancorp Inc. has agreed to acquire Security California Bancorp in Riverside for about $119 million.

Tease photo

Alliant Names New CFO

Newport Beach-based Alliant Insurance Services Inc. has named Ilene Anders as chief financial officer.

Tease photo