Stories for September 2015

Wednesday, September 30

Supervisors Consider $101M Airport Contract

The Orange County Board of Supervisors is scheduled at its Oct. 6 meeting to vote on awarding a four-year contract for $101.8 million to Swinerton Builders in Irvine to refurbish and seismically retrofit buildings and terminals at John Wayne Airport.

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Midday Stock Roundup

Major indices were up strongly in midday trading in a cautious signal that the market’s recent decline had bottomed out.

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Beijing Investor to Get 15% of Western Digital

Unisplendour Corp. Ltd. will invest about $3.8 billion in Western Digital Corp., taking a 15% stake in the Irvine-based storage products maker.A Beijing-based company will invest about $3.8 billion in Western Digital Corp., taking a 15% stake in the Irvine-based storage products maker.

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10 OCers on Forbes List

Ten members of the Business Journal’s annual OC’s Wealthiest list made the recent Forbes 400 list, which ranks the wealthiest Americans by estimated net worth.

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Fisker Changes Name to Karma

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

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Tuesday, September 29

CHOC Wins Clinical Practice Grant

Children’s Hospital of Orange County will receive $17.7 million in a four-year grant from the Centers for Medicare & Medicaid Services.

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Midday Stock Roundup

The S&P 500 was up 0.4% to 1,888.18.

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TTM to Shutter 3 Plants

TTM Technologies Inc. will shutter three manufacturing plants and lay off 550 workers as part of a global integration plan following its $927 million June acquisition of Viasystems Group Inc., the Costa Mesa-based printed circuit maker announced today.

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Monday, September 28

Doti Sets Date

Chapman University President Jim Doti will step down from his post on August 31, 2016, and return to teaching.

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Sabra Spends $84M for Senior Housing

Irvine-based Sabra Health Care REIT Inc. said today it bought nine senior housing facilities in Illinois, Oregon and Washington in two deals totaling $84.7 million.

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JWA August Traffic Almost 1 Million

John Wayne Airport saw some 937,000 passengers in August and is on track to top 10 million total for the year.

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NextVR to Stream Democratic Debate

Laguna Beach-based startup NextVR will stream the Democratic presidential debate next month in Las Vegas on CNN, adding to its list of firsts in the developing virtual reality segment.

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Masimo Donates Equipment to Jordan

Irvine-based Masimo Corp. said today it will donate $5 million worth of its patient monitoring devices to Jordanian hospitals to assist them in providing healthcare to more than 1 million Syrian and Iraqi refugees.

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Del Taco Plans Central Calif. Push

Lake Forest-based Del Taco Restaurants Inc. said three franchisees will open 27 locations in central California. The company didn’t give a time frame for the expansion.

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JWA’s Wedge to Newport Beach & Co.

John Wayne Airport spokesperson Jenny Wedge plans to take a similar role at destination marketer Newport Beach & Co.

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OC Business Bank to Sell for $55M

Orange County Business Bank has agreed to sell to HomeStreet Inc. for $55.3 million.

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Midday Stock Roundup

Major indices declined sharply in midday trading on concerns in foreign markets.

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Del Taco Board Member Buys Chicago Hot Dog Stand

Del Taco Restaurants Inc. board member Ari Levy and four investors bought the Wieners Circle hot dog stand in Chicago and are likely to expand the concept.

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Disease Sensor Maker Gets $2.4M

Irvine-based PhageTech Inc. said it closed on $2.4 million in Series A financing to complete development and U.S. Food and Drug Administration approval for disease sensor technology and to commercialize a blood and urine test for bladder cancer.

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KBS Realty Doubles Up in Downtown San Jose

$150 Million Office Buy Would Be 2nd Since 2014

An affiliate of Newport Beach-based KBS Realty Advisors is under contract to buy one of the more prominent office complexes in downtown San Jose.

Microsemi Aboard NASA Spacecraft for Pluto Mission

Space Unit Targets Niches In Mission-Critical Work

Aliso Viejo-based chipmaker Microsemi Corp. has supplied several key components on NASA’s New Horizons spacecraft, which was sent in part to study Pluto in a mission launched nearly a decade ago from Cape Canaveral Air Force Station in Florida.

Real Estate Deals

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

Computer networking company QLogic Corp. sold an office building in Aliso Viejo to Kelemen Caamano Investments for $8 million, or about $235 per square foot.

Airport Area Industrial Market Has Strong Second Quarter

The overall Greater Airport Area industrial real estate market performed well in the second quarter, a showing that’s projected to continue moving into the latter part of the year.

Casanova Pendrill Calls for Traffic Safety Evolution

Agency Highlights Theme in Placements

Casanova Pendrill’s newest installment of pro bono work for the National Highway Traffic Safety Administration pays homage to the evolutionary illustration “March of Progress.”

Engineering Firms Reverse Last Year’s Billings Drop

Increase Total By 1.7% Following 1.5% Decrease

Orange County’s top engineering firms with headquarters or significant operations here have recovered from a 1.5% drop in billings last year, posting a 1.7% increase in local billings during the 12-month period ended June 30.

Architecture Firms Ramp Up With 9% Billings Increase

40 Biggest Combine For $474M in Local Work

Orange County’s architecture firms combined for a 9.1% increase in local billings this year following a modest 1.6% increase in local billings last year, and are on track to return to the 13% surge they had in 2013.

OC on Road Map for Autonomous Vehicles

ENGINEERING: Link to Bay Area test station runs through Irvine

Orange County has become a key pit stop in the race to develop a fully autonomous car.

Why Google Has Eyes for Irvine

Quality Counts as City Joins SD, Louisville on Short List for Fiber Program

Irvine’s diverse economy, increasingly vibrant startup scene, affluent demographics, and residential mix all helped put Orange County’s third largest city on track for Google Inc.’s new Internet and TV service.

Out of Ordinary for Newport Beach: Factory Upgrade

TECHNOLOGY: Chipmaker to put $15M or more into plant on Jamboree

Israel-based Tower Semiconductor Ltd. is investing $15 million to $20 million to upgrade its Newport Beach manufacturing plant to meet growing demand for new generations of chips for smartphones and other wireless devices.

Achieve Like a Girl

3 High-Profile OC Execs Count Gold Award as Precursor to Bountiful Careers

There was a budding business mind behind the cherubic face selling cookies door-to-door.

Innovator Award Catches Morales With Pants Up

A lot of good lines at the Business Journal’s inaugural Innovator of the Year Awards last week, including one that helped sum up how the event reaches beyond the buzzword for a comprehensive look at one of Orange County’s most valuable and broad-based assets—businesses of all sorts that turn fresh thinking into new products, processes or practices (see news item, page 7).

Buena Park Eyes Hospitality Improvement District

HOTELS: Assessment of 2% on room rates under discussion

Buena Park’s destination marketing agency and representatives of its 21 hotels and motels are working with city officials to form a hospitality improvement district as a source of dedicated funding for promotional efforts with a preliminary annual budget of close to $1 million.

New Game Plan on Goodwill Distribution Center

RETAIL: Nonprofit gets room to do strategic merchandising

Goodwill of Orange County plans to reshape the merchandising and logistics behind its retail business with a move to a 154,040-square-foot distribution center in Tustin by year’s end.

Olen Sold on Aliso Viejo, Snaps Up Business Park

REAL ESTATE: Six buildings fetch estimated $20 million

Newport Beach-based Olen Properties Corp. has made its largest local purchase in two years, snapping up a business park in Aliso Viejo.

LA-Based Retailer Gets Anna’s Name

MARKETING: Fallas-Paredes chain also picks up 41 leases

Scott Gladstone didn’t manage to hold on to Anna’s Linens Inc.’s name, according to documents filed with the U.S. Bankruptcy Court for the Central District of California in Santa Ana.

St. Regis Shares Renovation Specifics

St. Regis Monarch Beach Resort in Dana Point offered details on its planned renovation of some public areas of the property.

Koll Co. Makes Largest Local Purchase in Years

REAL ESTATE: Latest buy with Rialto valued at $30.5 million

The Koll Co. has made its largest reported local purchase in several years, snapping up an office tower just over the Los Angeles County line in Cerritos.

6 Honored at Business Journal’s Innovation Awards

About 415 people celebrated innovation and the people who create it at the Business Journal’s inaugural Innovator of the Year awards last week at the Hotel Irvine.

Buy Sends Tustin Engineering Firm to LA

Tustin-based electrical engineering firm R.E. Wall and Associates Inc. was acquired by Morrow Meadows Corp. in Los Angeles.

Santa Ana Software Maker Names CEO

Technology industry veteran Joe Bergera was named chief executive of Iteris Inc., a Santa Ana-based data provider and traffic management software maker.

Newport Beach Led Way on Luxury’s Summer Sizzle

50 Homes Sold; Priciest Goes For $17.5M

Summer sizzled in the Orange County luxury market, with 50 transactions above $4 million closing between June 15 and Sept. 15.

GE Healthcare Veteran Joins Medical Device Maker

Brings ‘Deep Experience’ Of Leading Big Businesses

Irvine-based device maker Endologix Inc. recently appointed Vaseem Mahboob as its new chief financial officer.

OCBJ Calendar

Sept. 28-Oct. 7, 2015

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 39

The Disneyland Resort in Anaheim could benefit from an investment Burbank-based parent Walt Disney Co. has made in a virtual reality filmmaker.

Friday, September 25

Midday Stock Roundup

The S&P 500 was up 0.9% to 1,948.77.

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Thursday, September 24

Innovators Fete 6 of Their Own

About 415 people celebrated innovation and the people who create it at the Business Journal’s inaugural Innovator of the Year awards today at the Hotel Irvine.

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Midday Stock Roundup

Stock indices were down in midday trading based on industrial company woes and uncertainty in European markets over the Volkswagen scandal.

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PHG Buys AC Hotel New Orleans

An affiliate of Pacific Hospitality Group in Irvine bought the AC Hotel New Orleans from an affiliate of Dallas-based NewCrestImage LLC.

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Wednesday, September 23

Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 1.941.51.

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St. Regis Offers Details on Redo

St. Regis Monarch Beach Resort in Dana Point has offered details on its planned renovation of some public areas of the property.

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Tuesday, September 22

Tustin Engineering Firm Acquired

Tustin-based electrical engineering firm R.E. Wall and Associates Inc. was acquired by Los Angeles-based Morrow Meadows Corp.

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Pacifica in $44M Hotel Sale

Irvine-based Pacifica Hotels sold the Hilton Garden Inn Marina del Rey to Chatham Lodging Trust in West Palm Beach, Fla., for $44.5 million.

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Iteris Names New CEO

Technology industry veteran Joe Bergera has been named chief executive of Iteris Inc., the Santa Ana-based data provider and traffic management software maker said this morning.

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Johnny Rockets Opens New Concept

Aliso Viejo-based Johnny Rockets Restaurant Group will open its first Johnny’s Burger Factory fast-casual location in Buffalo, N.Y. this week.

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Midday Stock Roundup

Major indices were down sharply in midday trading sparked by a decline in the prices of oil and copper.

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Disney Co. Venture Points to Parks

The Disneyland Resort in Anaheim could benefit from an investment its Burbank-based parent Walt Disney Co. has made in a virtual reality filmmaker.

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Monday, September 21

Court Rules Against Glaukos in Patent Case

Laguna Hills-based Glaukos Corp. said a court ruled against it on three pending summary judgment motions in a patent lawsuit with a competitor.

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Midday Stock Roundup

The S&P 500 was up 0.3% to 1,963.73.

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Irvine Battery Maker Raises $30M

Irvine-based startup Enevate Corp. has raised $30 million in a Series B funding round and has plans to start production of its lithium batteries.

E-Commerce, Cloud Fuel Seta’s Skyrocket

Amazon.com Designation Opens More Doors

A big push into e-commerce and a partnership with the world’s largest online retailer has helped Irvine-based Seta International’s top line skyrocket in the past few years.

J-Squared Away

Started With Faculty Housing at Pepperdine, Developing Government Niche

Santa Ana-based J-Squared General Contractors Inc. started in owner Jeff Clark’s North Tustin home in 2013 after a falling-out with his previous employer.

Griffin-American Teams Up for Buy

HEALTHCARE: In line for 70% stake in $1.1 billion deal

Irvine-based Griffin-American Health Care REIT III Inc. is getting into the senior healthcare operating business.

Ingram Opts for ‘Diverse, Interconnected’ Software

TECHNOLOGY: Distribution giant abandons general overhaul

Ingram Micro Inc. has scrapped a global software overhaul launched seven years ago in an effort to improve flexibility as the distribution giant’s business model evolves.

LBA Nabs 18-Acre Campus in Anaheim Canyon

REAL ESTATE: Plans to lease 2 of 3 buildings back to AT&T

LBA Realty, fresh off a big financing deal for its Park Place mixed-use campus in Irvine, has snapped up an 18-acre property in Anaheim from AT&T Inc.

Fastest Growers Prove Efficient

Fewer Companies, More Jobs in All 3 Categories

The number of entries on this week’s Business Journal lists of fastest-growing private companies based in Orange County is down by about 10% from a year ago.

TechSpace Plans Austin Opening, More Expansion

Flex-Space Operator Latest OC Firm to Eye Texas

Office-campus operator TechSpace Inc. is the latest Orange County real estate company making a push into Austin, Texas.

R&D Market Tight, Competitive in Second Quarter

The research and development market in Orange County had positive absorption of 253,100 square feet in the second quarter.

Real Estate Deals

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

Cie Digital Labs signed a five-year lease for its new location at 19900 MacArthur Blvd. in Irvine. The company was based in Long Beach prior to its move.

Hiring Push for Cloud Software Startup in Aliso Viejo

Company Looks to Nearly Double Work Force to 90

Aliso Viejo-based startup Verismic Software Inc. is on a hiring push as more companies look to offload IT management services via the cloud.

Hyundai’s New Marketing Play: Official NFL Sponsor

Campaign to Showcase Passion for Football, Cars

Hyundai Motor America Inc. kicked off the 96th season of the NFL with its own game-day marketing play as the official automotive sponsor.

Allergan Licenses Rights of Erectile Dysfunction Cream

Includes $1M Upfront, $1.5M Milestone Payments

Allergan PLC, whose eye drug and Botox hubs are located in Irvine, is stepping away from an erectile dysfunction cream that’s under development.

OCBJ Calendar

Sept. 21-30, 2015

This week's business and other event listings.

ADDENDUM

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

John Krafcik, former chief executive of Fountain Valley-based Hyundai Motor America Inc. plans to join Google Inc. later this month to lead the technology company’s self-driving car project.

PHILANTHROPY

R.D. Olson Construction, based in Irvine, built its first Habitat for Humanity home on Aug. 28.

Chinese Buyer for Radiology Provider

Alliance HealthCare Services Inc. in Newport Beach said last week that Fujian Thai Hot Investment Co. will buy 5.5 million shares of its stock for $102.5 million and become its majority shareholder.

McCarthy New Boss of Asics America

Asics America Corp. in Irvine has hired Gene McCarthy as its new chief executive to replace Kevin Wulff, who will retire at the end of the year.

Incipio Buys Apple Supplier in IE

Incipio Technologies Inc. in Irvine acquired Chino-based Incase Designs Corp., a maker of bags and accessories for Apple products, on undisclosed terms.

Large Companies, Big Gains

Revenue Rises 30% to $16B; Jobs Up 48% to 12,241

The biggest of the fastest-growing private companies in Orange County combined to boost revenue by 30% over the past two years to an estimated $15.7 billion.

Albertsons Plans 200,000-SF Addition in Irvine

REAL ESTATE: Puts 170 acres at two LA County sites on block

Grocery chain Albertsons Cos. is looking to expand the size of its already-formidable distribution center holdings in Orange County and shed some big industrial properties it owns in Los Angeles County and Oregon.

Marketing Arm Grows With Hotel Trade in Irvine

HOSPITALITY: Boost in store for improvement-district coffers

Irvine’s growing role as a hospitality hub will bring its own reward to hotels in the city.

Rehab Specialist Lands Top Spot

Solid Landings No. 1 Among Largest Companies

Costa Mesa-based Solid Landings Behavioral Health Inc. is riding a wave of increased coverage prompted by healthcare reform to big revenue growth.

Stump Speech for Pyott? Carter Backs Kiani’s Cause

David Pyott was his sharp-witted self and then some at last week’s British American Business Awards at the Hotel Irvine.

Small Companies, Big Increase

65 Combine for 94% Gain on Revenue

The 65 companies featured on this week’s list of fastest-growing small private companies based in Orange County can claim a big achievement on a collective basis: They’ve combined to nearly double revenue over the past two years to an estimated $310 million.

More Than Middling Performance

Midsize Companies Make Up Nearly Half of Total, Take in $2.4B

The 71 fastest-growing private companies in Orange County with revenues between $10 million and $99.9 million combined to grow their top line by 84% over two years for an estimated $2.4 billion.

Friday, September 18

Midday Stock Roundup

Major indices declined in midday trading due to ongoing uncertainty over U.S. Federal Reserve policy through the end of the year and global economic concerns.

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OC Adds Jobs, Unemployment Rate Dips

Orange County employers added 2,200 jobs in August after two months of job cuts.

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Thursday, September 17

UCI Tops NY Times Index

University of California-Irvine ranked No. 1 out of 179 schools in a New York Times measure of access to college for lower- and middle-income students.

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Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,000.72.

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Mazda Charity Gives $500K to Food Bank

The Mazda Foundation announced a $500,000 grant to Irvine-based Second Harvest Food Bank of Orange County.

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Wednesday, September 16

Radiation Provider Gets Majority Owner

Newport Beach-based Alliance HealthCare Services Inc. said today that Chinese investor Fujian Thai Hot Investment Co. will buy 5.5 million shares of its stock for $102.5 million and become its majority shareholder.

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Midday Stock Roundup

The S&P 500 was up 0.7% in midday trading to 1,991.56.

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New Boss for Asics America

Asics America Corp. in Irvine hired Gene McCarthy as its new chief executive, effective Oct. 1, to replace Kevin Wulff, who will retire at the end of the year.

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Incipio Buys Bag and Case Maker

Incipio Technologies Inc. in Irvine acquired Chino-based Incase Designs Corp., a maker of bags and accessories for Apple products, on undisclosed terms.

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Tuesday, September 15

Quiksilver Cuts Losses in Q3

Huntington Beach-based Quiksilver Inc. lost $124.7 million in its third quarter ended July 31 compared with a loss of $220.6 million in the same period last year.

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Midday Stock Roundup

Major indices were higher in midday trading ahead of a U.S. Federal Reserve Board of Governors meeting today.

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Irvine Battery Maker Raises $30M

Irvine-based startup Enevate Corp. has raised $30 million in a Series B funding round has plans to start production of its lithium batteries.

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Pieology Plans Units in Guam, Saipan

Pielogy Pizzeria in Rancho Santa Margarita plans through franchisee Progressive Pies LLC to open three restaurants in Guam and Saipan with the first to open early next year.

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Monday, September 14

Sandwich Chain to End Franchisee Deal

Capriotti’s Sandwich Shops, which a news report in 2012 said planned 35 locations in Orange County, will end its relationship with the franchisee of the four restaurants open here.

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Midday Stock Roundup

The S&P 500 was down 0.3% to 1,954.27.

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Kelley Boss to New Role in Atlanta

Steve Lind will move from president of Kelley Blue Book in Irvine to executive vice president of operations at Cox Automotive Media, a newly formed division of Atlanta-based Cox Automotive Inc.

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Former Hyundai Motor Chief to Google

A former chief executive of Fountain Valley-based Hyundai Motor America Inc. plans to join Google Inc. later this month to lead the technology company’s self-driving car project.

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Anna’s Linens Subleases Some Stores

Costa Mesa-based Anna’s Linens Inc. subleased 16 of its stores to Party City Corp., which plans to set up Halloween pop-up shops, according to documents filed with the U.S. Bankruptcy Court for the Central District of California in Santa Ana.

Wienerschnitzel Battles Back, Plans Franchise Push

RESTAURANTS: New exec hired to head growth strategy

Wienerschnitzel wants more franchisees—and it’s open to fresh faces.

Ball Bearing Maker Plans Detroit Move

Ningbo, China-based CW Bearing Inc. will move its North American headquarters in Tustin to suburban Detroit.

Growth Path Seen for HoneyBaked Ham Franchisee

FOOD: Irvine-based firm gets new deal from national brand

The Irvine-based franchisee of HoneyBaked Ham’s California locations has room to grow, according to a recent state regulatory filing.

Will Kasich Call on New Majority With Media in Tow?

Could be pretty impressive timing for New Majority on its next interview session for campaign 2016, especially if Ohio Gov. John Kasich impresses in the GOP debate slated for Sept. 16 at the Ronald Reagan Presidential Library in Simi Valley.

Drugmakers Combine for 10% Reduction in Local Jobs

Allergan, Which Cut The Most, Still No. 1 On List

Orange County’s top 10 drugmakers lost jobs during the past 12 months, primarily because of the acquisition and reorganization of longtime market leader Allergan PLC, previously Allergan Inc.

Medical Device Makers Bump Up Local Jobs By 2%

35 Biggest Employed 16,629, Up By 316

The largest medical device makers based in Orange County or with large operations here held serve on the jobs front over the past 12 months.

Will BK Bring Global Split for Quiksilver?

APPAREL: Filing covers U.S.; Europe, Asia ‘remain strong’

Quiksilver Inc. could emerge from bankruptcy with separate ownership for its domestic and overseas operations.

New Package for A-Town

Platinum Triangle Project Recast; Could Be Part of Fund With Sovereign, Institutional Backers

Lennar Corp. plans to begin construction by year’s end on the first phase of residential development at its massive—albeit slimmed down—A-Town project in the Platinum Triangle.

Trend Toward Healthcare IPOs Spotlights OC Candidates

Any Number Could Follow Glaukos’ Path

Orange County has its share of private medical device and drug companies that could eventually become initial public offering candidates within the next couple of years.

Niche Clinic Operator Moves Headquarters to OC

HEALTHCARE: 128 jobs shift here from Chicago area

Concerto Healthcare Inc., a healthcare provider catering to senior citizens, has moved its corporate headquarters to Irvine from Schaumburg, Ill.

Accretive Realty Preps New SJC Med Center for Sale

Project Will Be Model For Huntington Beach Site

Obamacare is paying local dividends for Accretive Realty Advisors Inc., an Irvine-based real estate investor and developer that specializes in medical properties.

Energy Equipment Company Refocuses on Licenses

Changes Lead Ener-Core To Quit Manufacturing

Irvine-based Ener-Core Inc. has signed its first large-scale commercial order after some missteps, management changes and a company split.

PacLife’s Whale Swims in New Waters for Ad Series

Icon Teams With Dads To Represent Life’s Stages

Pacific Life Insurance Co.’s new commercials portray the brand’s icon—the humpback whale—in a bit of an unexpected way.

Masimo to Add Wellness Center Via St. Joseph Hoag

Latest Hoag Partnership Opened Last Month at HQ

Irvine-based patient monitor maker Masimo Corp. is the latest company to get on the St. Joseph Hoag Health wellness wagon.

OCBJ Calendar

Sept. 14-23 and Sept. 24, 2015

This week's business and other event listings.

High-End Homes Here Hedge Against China Turmoil

Real Estate Experts Weigh In On Possible Local Effect

The Chinese stock market collapse began when the Shanghai Stock Exchange lost a third of its value between June 12 and July 27.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 37

Eight Orange County universities were ranked on the U.S. News & World Report 2016 “Best Colleges” lists. The highest ranked local schools in their categories were University of California-Irvine and Chapman University in Orange.

St. Regis to Furlough 610 Workers

The St. Regis Monarch Beach in Dana Point plans a temporary layoff of 610 employees, a state filing said, with the reduction coming on a rolling basis over seven months.

Strathspey Buys Distributor in Spain

Strathspey Crown Holdings LLC, a Newport Beach-based healthcare private equity firm, agreed to acquire IMEX Clinic SL, a specialty medical equipment distributor in Valencia, Spain. Terms of the deal weren’t disclosed.

Texas Outfit Buys Yorba Linda Firm

Cortech Engineering LLC in Yorba Linda was acquired by Houston-based industrial equipment wholesaler DXP Enterprises Inc.

Hoag’s Bold Goal: $500 Million or More by 2020

HEALTHCARE: Signals growing role of philanthropy for providers

Newport Beach-based Hoag Memorial Hospital Presbyterian will soon take the official wraps off a philanthropy campaign with a working goal of raising at least $500 million by 2020.

Software Firm Gets Return on Returns

Algorithms Fight Fraud, Draw Buyer With Public Safety Portfolio

Remember when they started asking for ID to return a shirt at your favorite store?

Friday, September 11

Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 1,950.01.

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UCI to Get $19M NIH Grant

University of California-Irvine will get $19 million over four years from the National Institutes of Health to turn research results into medical products and services.

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St. Regis to Furlough 610 Workers

The St. Regis Monarch Beach in Dana Point plans a temporary layoff of 610 employees, a state filing said, with the reduction coming on a rolling basis over seven months.

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Thursday, September 10

Disney Set to Break Ground on Star Wars Land in 2016

The Walt Disney Co. plans to break ground on its new Star Wars-themed land at the Disneyland Resort in Anaheim next year, the Burbank-based company said today.

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Former DP Hotel Hopeful Files for BK

A developer that lost a bid to build a 5-story, 250-room hotel in Dana Point has filed for Chapter 11 bankruptcy in Santa Ana, a court filing said.

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Regional Red Cross Names Chief

The Santa Ana-based Desert to the Sea Region of the American Red Cross covering Orange, Riverside and San Bernardino counties named Linda Voss its third chief executive since March 2013.

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Midday Stock Roundup

The S&P 500 was up 1.1% in midday trading to 1,962.58.

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Wednesday, September 9

Yorba Linda Pump Distributor Acquired

Yorba Linda-based Cortech Engineering LLC has been acquired by Houston-based industrial equipment wholesaler DXP Enterprises Inc.

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Employment Services Firm Adds Execs

Irvine-based Accurate Background Inc. hired President and Chief Operating Officer Tim Dowd, Chief Product Officer Alek Zdziarski and Chief Technology Officer Connie Suoo.

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Quiksilver to Shut Stores in Prime OC Locations

Quiksilver Inc. plans to close several stores in prime Orange County locations as part of a larger trim to operations that’s in the works, according to documents filed with the U.S. Bankruptcy Court for the District of Delaware.

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 1,962.91.

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Quiksilver Files for Bankruptcy

Quiksilver Inc. filed for Chapter 11 bankruptcy late Tuesday in the U.S. Bankruptcy Court for the District of Delaware to reorganize its U.S. operations. The company’s European and Asia-Pacific businesses “remain strong” and are not part of the filing.

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OC Schools Hit U.S. News List

Eight Orange County universities were ranked on the U.S. News & World Report 2016 “Best Colleges” lists, the magazine said today.

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Tuesday, September 8

Lifestyle Healthcare Investor Buys Distributor in Spain

Strathspey Crown Holdings LLC, a Newport Beach-based healthcare private equity firm, has agreed to acquire IMEX Clinic SL, a specialty medical equipment distributor in Valencia, Spain.

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PacSun Misses on Revenue, Earnings

Shares of Pacific Sunwear of California Inc. were down 43% in midday trading Wednesday, to 34 cents and a $24 million market cap, as the Anaheim-based action sports retailer reported lower-than-expected revenue and a higher-than-expected loss for its August quarter.

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Midday Stock Roundup

Stock indices were up strongly today on hopes of stimulus actions in China and trade data in Germany. Orange County real estate and technology companies were up 3% to 4% in midday trading.

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Ritz, Montage Owner to Blackstone in $6B Deal

The owner of the Ritz-Carlton Laguna Niguel in Dana Point and the Montage Laguna Beach will be sold to real estate investor Blackstone Group LP in New York City for $6 billion in a cash-and-debt deal expected to close in early 2016.

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L.A. Times Head Fired, Replaced

Austin Beutner was fired early Tuesday as publisher and chief executive of the Los Angeles Times and San Diego Union-Tribune, accordng to the Chicago Tribune, a sister publication that cited sources close to the matter.

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Anna’s Subleases 16 Stores to Party City

Costa Mesa-based Anna’s Linens Inc. subleased 16 of its stores to Party City Corp., which plans to set up Halloween pop-up shops, according to documents filed with the U.S. Bankruptcy Court for the Central District of California in Santa Ana.

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Monday, September 7

Mazda Takes Page From Home Design for Showrooms?

700 Dealerships Get Open Layouts, ‘Warm’ Materials

Open-concept floorplans have turned kitchens into favorite gathering spots for families in recent years.

Edwards Closes CardiAQ Buy, Competition Grows

Bought Device Maker in Irvine for $400 Million

Irvine-based Edwards Lifesciences Corp. is known for its replacement aortic heart valves but has been busy on the mitral front.

Western Digital Execs Have History of Restructurings

Milligan Reshaped HGST, Leonetti Same at Amgen

The track record of Chief Executive Steve Milligan and Chief Financial Officer Olivier Leonetti might have foreshadowed Irvine-based Western Digital Corp.’s extensive job cuts in recent years.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 36

Quiksilver Inc. in Huntington Beach is holding discussions with potential buyers in an effort to avoid bankruptcy and keep its stores, Bloomberg Business reported, citing sources close to the matter. The apparel and footwear manufacturer last month appointed Peter J. Solomon Co. in New York as an adviser.

Restaurant Anniversaries Coincide With New Players

Plenty of Stalwarts, Fresh Fare Options to Browse

Moulin Bistro, Newport’s cute little culinary bôite filled with French aromas, ambiance, food and wine, and happy patrons, celebrates its first anniversary this month.

Apex Parks Group Buys Amusement Resort

Aliso Viejo-based Apex Parks Group bought Indiana Beach Amusement Resort in Monticello, Ind., on undisclosed terms.

Advantage Sales Buys Missouri Firm

Advantage Sales and Marketing LLC in Irvine acquired Springfield, Mo.-based advertising and marketing firm Marlin Network Inc. on undisclosed terms.

OC Attorney to Work on Suit for Navajos

Orange County attorney John Hueston was tapped to represent the Navajo Nation in a lawsuit against the U.S. Environmental Protection Agency.

calendar

Sept. 7-16 and Sept. 24, 2015

Ongoing • Studio SoCaL hosted by Rick Reiff and Elizabeth Espinosa (KOCE-TV/PBS SoCaL), Friday, 7 p.m., Repeats Sunday 5 p.m., Monday 5:30 p.m., Wednesday 5:30 p.m., Guests: TBA

Broadcom Potential Tenant for San Jose Campus

Apple Reported To Be Other Possibility

Irvine-based Broadcom Corp. could be close to finalizing a deal to build a second office campus for its operations, this time in Silicon Valley, according to news reports coming from Northern California.

Retail Market Holds Steady Second Quarter

The Orange County retail market continued to experience overall improvements as demand was driven upward by a limited amount of class A properties.

real estate deals

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

Truesdail Laboratories Inc. sold an office building in Tustin to Harbor Associates LLC for about $6.1 million, or about $153 per square foot.

Chapman Law School Dean Steps Down

Tom Campbell will step down as dean of Chapman University’s Dale E. Fowler School of Law and return to teaching, the university said.

Anna’s Linens Postpones IP Auction

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

Vizio Puts $50M Into Potential of Big Data

TECHNOLOGY: Completes buy of SF-based software firm

Vizio Inc. has acquired full ownership of a technology that enables smart TVs to capture, record and disseminate data on the viewing habits of its customers.

Hoag Eyes Tustin Legacy for Next Health Center

HEALTHCARE: Would house offices, outpatient services

Newport Beach-based Hoag Memorial Hospital Presbyterian is planning a three-story medical center with 60,000 square feet at a mixed-use development in Tustin—the latest in a recently developed concept that pushes the delivery of healthcare beyond its traditional inpatient settings.

Newport Center’s Profile Continues Global Rise

REAL ESTATE: Wells Fargo, Wing Lung latest leases

The Irvine Company appears to be seeing an uptick in leasing activity for its new 520 Newport Center office tower, even as a recent report suggests that the newest addition to the seaside corporate hub now has one of the highest-ever asking rents for a building in Orange County.

Julia & George Put Priority on Plaza at Segerstrom Center

This week’s special report on philanthropy starts on page 15, includes lists of corporate and private foundations, and seems especially well timed in the wake of the recent splash the Segerstrom Center for the Arts made with the kickoff of its $68 million fundraising campaign.

Philanthropy

The Orange County School of the Arts in Santa Ana celebrated the grand opening of its 60,000-square-foot dance, music and science center on Aug. 16 with more than 600 Orange County community and business leaders.

Kids Get Gift of Music at Casa Romantica’s Academy

Free Program One of Batch Designed for the Young Set

Ten-year-old Dillon had a dream: to learn to play the guitar. At least that’s what he said in the application video he sent in to be considered for Casa Romantica’s free Music Festival and Academy.

Broken Dream Becomes Grander Reality in South OC

Casa Romantica Facility Is Community Resource

Casa Romantica Cultural Center and Gardens is nestled among the distinctive homes that line the curved streets of San Clemente.

Tribune Media Adds Land Next to Vacant Times Plant in CM

REAL ESTATE: 4 acres off 405 seen as part of redevelopment plan

Chicago-based Tribune Media Co. appears to be expanding its development plans in Costa Mesa.

Land Sale Near Tustin Legacy Points to Next Hotel in Irvine

REAL ESTATE: Buyer sells HB Best Western before $7.4M deal

Add a hotel to the increasingly lengthy list of new types of product planned for land bordering the Tustin Legacy development site.

FCD Presents Allergan Finale

Packed Room at Pacific Club Gets Cautionary Tale

Consider the Allergan takeover drama finally done, now that the cautionary tale has been told.

Pimco’s Other Purpose

Foundation’s Poverty-Fighting Program Matches Millennials’ Mindset, Provides Participants Way to Give, Grow

Poverty doesn’t figure into the view from the high-rise offices of Newport Center.

Private Foundations Give More in OC, Less Overall

Combined to Donate $145M, Increased OC Giving 22.8%

Private foundations based in Orange County spent more money in their own backyard last year as they trimmed their overall giving.

Corporate Foundations Boost Giving in 2014 by 6.1%

36 Active in OC Donate $1.2B, $21M+ of it Local

Corporate foundations active in Orange County marked their fifth year of yearly increases in total cash contributions and cash contributions to OC charities.

Friday, September 4

Anna’s Subleases 16 Stores to Party City

Costa Mesa-based Anna’s Linens Inc. subleased 16 of its stores to Party City Corp., which plans to set up Halloween pop-up shops, according to documents filed with the U.S. Bankruptcy Court for the Central District of California in Santa Ana.

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Midday Stock Roundup

Stocks were down in midday trading on a mixed jobs report.

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Apex Parks Buys in Indiana

Aliso Viejo-based Apex Parks Group bought Indiana Beach Amusement Resort in Monticello, Ind., on undisclosed terms.

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ClearLight Invests in Legal Marketing Firm

Newport Beach-based private equity firm ClearLight Partners LLC has made a “major” investment in Walker Advertising, a legal marketing firm primarily serving the Latino-American community.

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Thursday, September 3

Allergan in $300M Deal for Aliso Viejo Eye Device Maker

Allergan PLC, which has its eye drug hub in Irvine, said today that it is buying Aliso Viejo-based AqueSys Inc. for $300 million up front, with the potential for milestone payments.

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UCI Set for Top 10 Public List

University of California-Irvine is in the top tier of public universities in the U.S., according to a ranking scheduled to be released next week.

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CareTrust Buys Florida Facility

San Clemente-based CareTrust REIT Inc. said today that it spent $5.4 million to buy a secured memory care and assisted living facility in Pensacola, Fla.

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 1,953.56.

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Ex-Johnny Rockets Chief Lands at Coffee Chain

John Fuller, who in February left Aliso Viejo-based Johnny Rockets Group Inc. “to pursue other interests,” was named president and chief executive of the Coffee Bean & Tea Leaf in Los Angeles.

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Wednesday, September 2

Chapman’s Campbell to Step Down as Dean of Law School

Tom Campbell will step down as dean of Chapman University’s Dale E. Fowler School of Law and return to teaching, the university said.

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Quiksilver Reportedly Talks With Possible Buyers

Quiksilver Inc. in Huntington Beach is holding discussions with potential buyers in an effort to avoid bankruptcy and keep its stores, Bloomberg Business reported today, citing sources close to the matter.

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Advantage Sales Acquires Firm

Advantage Sales and Marketing LLC in Irvine acquired Springfield, Mo.-based advertising and marketing firm Marlin Network Inc. on undisclosed terms.

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Midday Stock Roundup

Stabilizing views on China and tech stocks led major indices higher in midday trading.

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Tuesday, September 1

Sales Up for 3 OC Auto Brands

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

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Midday Stock Roundup

Major indices were down in midday trading on renewed fears related to China’s economy.

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Hueston to Represent Navajo Nation in Spill Claims

Orange County attorney John Hueston has been tapped to represent the Navajo Nation in a lawsuit against the U.S. Environmental Protection Agency.

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