Stories for April 2016

Friday, April 29

Midday Stock Roundup

The S&P 500 was down 0.8% in midday trading to 2,059.08.

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California Republic Bank Acquired

Irvine-based California Republic Bancorp has been sold to Mechanics Bank in Walnut Creek in a deal worth an estimated $330 million in cash.

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Thursday, April 28

Anaheim Apparel Maker to Be Sold

Midlothian, Texas-based Ennis Inc. said it plans to sell Alstyle Apparel LLC in Anaheim to the newly formed Alstyle Operations LLC for $76 million in cash and $12 million to cover a 60-month equipment lease.

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Big Data Start-Up Gets $5M

Irvine-based Levyx Inc. closed $5.4 million in Series A funding.

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WD Misses Wall Street Targets

Irvine-based storage products maker Western Digital Corp. reported revenue and adjusted profits in the March quarter that missed Wall Street expectations amid continued sagging PC sales.

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Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,094.89.

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Broadcom Sells IoT Lines

Broadcom Ltd. has sold its Internet of Things business and related assets for $550 million to Cypress Semiconductor Corp. in San Jose

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Wednesday, April 27

Quality Systems Cutting Jobs, Restructuring

Irvine-based Quality Systems Inc. will cut 150 jobs, or about 6% of its U.S. workforce, as part of an operational realignment.

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Mitsubishi: U.S. Cars OK With EPA

Cypress-based Mitsubishi Motors North America Inc. said the fuel economy data for its vehicles model years 2013 to 2017 sold in the U.S. is accurate and is not affected by testing irregularities its Japan-based parent revealed last week.

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Law School Starts Civil Justice Institute

The University of California-Irvine School of Law has launched a Civil Justice Research Institute to explore how to make the U.S. civil justice system more accessible.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,087.22.

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PacSun CFO Departs

Pacific Sunwear of California Inc. named Ernie Sibal its chief financial officer after Chris Tedford resigned “to pursue other endeavors.”

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Tuesday, April 26

Edwards Beats Estimates

Irvine-based Edwards Lifesciences Corp. today reported better-than-expected first-quarter profit and revenue.

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Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,087.52.

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Anaheim Hotelier in 2nd SD Buy

An affiliate of Anaheim-based Marwaha Group Inc. bought the 94-room TownePlace Suites hotel in Vista from Carlsbad-based TMACK Melrose LLC for $15 million, according to CoStar Group and public data.

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Monday, April 25

Auction of Baseball Rules Sets Record

Baseball’s oldest rule book fetched a record $3.2 million this weekend as part of the 2016 Spring Premier auction run by Laguna Niguel-based SCP Auctions.

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,084.49.

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PacMerc Posts 1Q Profit

Costa Mesa-based bank holding company Pacific Mercantile Bancorp reported net income of $284,000 for the quarter ended March 31.

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Opus 1Q Profit Up 56%

Irvine-based Opus Bank posted $17.3 million in first-quarter net income, up 56% from the same period a year earlier.

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PHG to Add 145 Rooms in Napa

Irvine-based Pacific Hospitality Group plans to break ground April 29 on a four-story, 145-room hotel across the street from its Meritage Resort & Spa in Napa, according to a local news report.

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Private Companies Wanted for Annual List

SPECIAL ISSUE: list will be centerpiece of June 20 edition

The Business Journal is preparing its annual list of privately owned companies for publication in June.

Toilet Parts Maker Buys in Netherlands

San Juan Capistrano-based toilet component maker Fluidmaster Inc. acquired on undisclosed terms WISA BV, a restroom components designer and maker in the Netherlands.

Investment App Startup Raises $30M

Irvine-based Acorns Grow Inc. raised $30 million in Series D funding that includes investments from Palo Alto-based PayPal and Rakuten Fintech Fund, the investment arm of an e-commerce company in Tokyo.

Terminal Maker Merged With China Co.

Santa Ana-based point-of-sale terminal maker ExaDigm Inc. merged on undisclosed terms with Shenzhen Xinguodu Technology Co., a China-based maker of POS systems and electronic payment products.

Battery Recharge Conundrum Cracked?

University of California-Irvine researchers have invented a unique kind of battery material that they contend can be recharged hundreds of thousands of times.

Ingredient Could Put Firm in Antiaging Sweet Spot

MANUFACTURING: Sales up as ChromaDex makes deals

Irvine-based ChromaDex Corp. is like a surfer on the cusp of a huge wave. Its surfboard is its lead ingredient, Niagen, and the wave is what’s known as the “geroscience” market, which targets the relationship between aging and age-related disease.

Long Arm of the Law Extends its Reach Robotically

TECHNOLOGY: Firm showed phone-breaking tool to top cops

A low-profile company that’s involved in some of the nation’s top forensic investigations is testing a robotic arm to unlock the most common mobile phones used in crimes.

CapRock Adds Anaheim Office Park to Portfolio

REAL ESTATE: $30M buy as firm wraps up Tustin project

An Irvine-based commercial real estate firm with a growing investment and development pipeline in Southern California has made its largest-ever acquisition in Orange County, picking up an office park in Anaheim.

Déjà Vu All Over Again for Register? Levine Meets Flanagan

You might want to think again if you think the situation over at the Register is settled under new owner Digital First Media. DFM is ultimately owned by N.Y.-based hedge fund Alden Global Capital, which gives no signs of a long-term interest in the publishing business.

Edison Pins Growth Plans on Irvine Group

ENERGY: Nonregulated lines focus on resource management

Edison International’s bid for new markets and revenue will be conducted from Irvine.

Employment Agencies Grow Top Line on Flat Volume

Tight Worker Supply Brings Creative Challenge

Orange County employment agencies had solid revenue gains last year while placing essentially the same number of workers—a sign, they say, of an uptick in demand to find new workers for clients in their bread-and-butter businesses.

Internet of Things Drives Greenwave Systems Growth

Smart-Tech Provider To Hire 60 People This Year

The increasing adoption of connected-home devices and a $45 million venture funding round in January have prompted a hiring push at Irvine-based Greenwave Systems Inc.

Q & A

The Business Journal often asks Orange County’s chief financial officers to comment on changes occurring in the industry. This time, we wanted to get their thoughts in light of this year’s stock market performance, potential interest rate increases by the Federal Reserve, and the turbulence in overseas economies. Reporter Michael de los Reyes asked a sampling of Orange County-based CFOs in the technology, venture capital, restaurant, nonprofit, and medical device sectors about the opportunities and challenges they face due to today’s macro-economic trends. Edited excerpts of their responses follow.

Kingston Buys Into Encryption IP

TECHNOLOGY: Minnesota-based brand’s USBs made in Santa Ana

Kingston Technology Inc., the world’s top seller of consumer USB drives, has moved to strengthen its position in the commercial market with its first technology buy.

Big Media for Big Mike in Register Deal

Harrah Got Presses, Trucks Along With Land; Aims to Foster Media Hub, Add Condo Towers, Hotel

Mike Harrah’s investment in the former assets of the Orange County Register appears to have given the longtime Santa Ana real estate owner, developer and philanthropist a new calling card: local media mogul.

Temp CFOs ‘Parachute’ In, Give Big-Picture Perspective

Temp CFOs ‘Parachute’ In, Give Big-Picture Perspective

Interim, or temporary, chief financial officers, known as fractional CFOs in the industry, have become an important and increasing part of business growth in Orange County, according to private equity companies and agencies that place the executives.

Masters of the Yogaverse

Executives Leverage Popular Practice to Help Them Manage Business, Personal Lives

Joe Duran, six months after discovering yoga, saw that the mindfulness and self-awareness he’d gained as a student of the practice had another benefit. That’s when it helped him maintain control during a confrontation with a colleague that could’ve gotten negative.

Tablets Maker Taps Growing Senior Market

TECHNOLOGY: $11M stock sale to Taiwanese firm promises Asia links

Orange-based startup grandPad Inc. has sold an equity stake to one of the largest PC makers in the world and signed a distribution deal with a nationwide provider of in-home senior healthcare potentially worth millions of dollars.

Toshiba’s 26-Acre Campus on Market

REAL ESTATE: Plans to sell land in Spectrum, lease elsewhere in OC

Toshiba Corp. is putting its massive Irvine office facility on the market and looking for space to lease elsewhere in Orange County.

Big Media for Big Mike in Register Deal

Harrah Got Presses, Trucks Along With Land; Aims to Foster Media Hub, Add Condo Towers, Hotel

Mike Harrah’s investment in the former assets of the Orange County Register appears to have given the longtime Santa Ana real estate owner, developer and philanthropist a new calling card: local media mogul.

Greater LA Market Tightened in Q1

The incremental improvement in the Greater Los Angeles market at the start of the year accurately reflects the macroeconomic backdrop of slow but steady growth amid global weakness.

Real Estate Deals

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

CapRock Partners sold an industrial unit in Anaheim to Tuff Toe Inc., maker of a toe protectant for shoes, for about $1.4 million, or $185.04 per square foot.

Eureka Building Event Fetes Venture Capital Luminary

‘OCVC’ Has Supported Startups Across County

Entrepreneurs, investors and other players in Orange County’s startup ecosystem converged on the Eureka Building in Irvine on April 14 for its annual EurekaFest. The event included a fast-pitch competition, speaker panels, music and booths.

Supplement Maker Expected to Buy Santa Ana Space

Part of Rexford-CTR Deal Could Sell for $18.7M

One of five Orange County industrial buildings acquired by Rexford Industrial Realty Trust Inc. as part of a $191 million portfolio deal might not stay under the ownership of the Los Angeles-based investor for too long.

OCBJ Calendar

April 25-May 4, 2016

This week's business and other event listings.

Western Digital Breaks Funny Again With Drive Ads

Mini Mystery Plots ‘Purple Surveillance’ Heroism

Ads for Irvine-based Western Digital Corp.’s Purple Surveillance Drive appeal to IT professionals’ inner geek—the product “saves the day” while starring in a comic strip.

UC-Irvine Health, Corona Hospital Strengthen Ties

Pact Now Includes High- Risk Pregnancy Consults

UC Irvine Health recently stepped up its partnership with Corona Regional Medical Center, a midsized hospital just across the Riverside County line, by opening a high-risk pregnancy clinic.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No.17

Marshall B. Ketchum University Provost Morris Berman will receive the 2016 Lifetime Achievement Award from the Association of Schools and Colleges of Optometry at the association’s annual leadership luncheon in Boston in June.

PHILANTHROPY

United Cerebral Palsy of Orange County’s annual black tie gala, Life Without Limits, was held April 2 at the Balboa Bay Resort in Newport Beach.

Friday, April 22

PHG to Add 145 Rooms in Napa

Irvine-based Pacific Hospitality Group plans to break ground April 29 on a four-story, 145-room hotel across the street from its Meritage Resort & Spa in Napa, according to a local news report.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,084.11.

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BJ’s Profit Up 21%

Shares in Huntington Beach-based BJ’s Restaurants Inc. jumped about 9% to a market cap of $1.1 billion in Friday morning trading following a positive quarterly report after markets closed yesterday.

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Thursday, April 21

Allergan Makes $85M Buy

Allergan Plc bought Topokine Therapeutics for $85 million and certain milestone payments.

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MVE Names Founder's Son Principal

Irvine-based architectural design firm MVE & Partners promoted Matthew McLarand, formerly a senior associate partner, to principal.

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JWA Numbers Up Again

John Wayne Airport handled 907,000 passengers in March, a 9% increase compared with 832,000 in the same month last year.

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Acorns Raises $30M Series D

Irvine-based Acorns Grow Inc. raised $30 million in Series D funding that includes investments from Palo Alto-based PayPal and Rakuten Fintech Fund, the investment arm of an e-commerce company in Tokyo.

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,095.19.

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Wednesday, April 20

PacPremier Profit, Loans, Deposits Up

Shares in Irvine-based Pacific Premier Bancorp Inc. closed up 1.7% to $21.68 and a market cap $597 million after the company reported first quarter net income of $8.6 million, a 387% increase from the same period a year ago.

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Chinese Company Buys in Santa Ana

Santa Ana-based point-of-sale terminal maker ExaDigm Inc. merged on undisclosed terms with Shenzhen Xinguodu Technology Co., Ltd., a China-based maker of POS systems and electronic payments products.

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Kaiser Aluminum Misses on Revenue

Shares in Foothill Ranch-based Kaiser Aluminum Corporation close down about 1% to $86.58 and a market cap of $1.6 billion after the company reported first quarter net income of $26 million.

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UCI Offers New Take on Batteries

University of California-Irvine researchers have invented a unique kind of battery material that they contend can be recharged hundreds of thousands of times.

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Busch Family Gives $15M

The Busch Family Foundation in Irvine gave $15 million to Catholic University of America, news reports said.

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Four UCI Faculty Named to Academy

Four University of California-Irvine faculty and one alumnus will be inducted in October into the American Academy of Arts and Sciences.

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Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,108.66.

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Tuesday, April 19

Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,096.26.

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Monday, April 18

Anaheim Advances $209M Hotel

Anaheim’s Planning Commission on Monday approved plans for a 580-room hotel at the corner of Harbor Boulevard and Disney Way, which sends the proposal to the city council to consider on May 17.

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Western State, CSUF Still Neighbors

Western State College of Law has moved from Fullerton to Irvine, leasing space at 1 Banting in Irvine, part of a two-building California State University-Fullerton Irvine campus in the Irvine Spectrum.

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Provost Honored By Optometry Group

Marshall B. Ketchum University Provost Morris Berman will receive the 2016 Lifetime Achievement Award from the Association of Schools and Colleges of Optometry at the association’s annual leadership luncheon in Boston in June.

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Register Has New VP Advertising/GM

Digital First Media appointed Henry Williamson to oversee sales strategies as vice president of advertising at The Orange County Register.

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Midday Stock Roundup

The S&P 500 was up 0.5% in midday trading to 2,091.28.

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SJC Company Buys in Europe

San Juan Capistrano-based toilet component maker Fluidmaster, Inc. acquired on undisclosed terms WISA BV, a restroom components designer and maker in the Netherlands.

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Port Chief On President’s Advisory Group

U.S. Department of Commerce Secretary Penny Pritzker named Port of Long Beach Chief Executive Jon Slangerup to the department’s advisory committee on supply chain competitiveness.

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Stall on IPOs Feels Different in OC

ECONOMY: Choppy market has some on hold; others seek sales

Orange County’s roster of locally based public companies with billion-dollar valuations isn’t getting much help when it comes to offsetting some high-profile departures.

Gavin's Growth Formula

Allergan Founder Lured Talent, Listened for Opportunities to Build Local Behemoth

Who in the world is Irv Leopold?

How Oil Patch Pain Hits OC Chain

Boot Barn Adjusts as Energy Sector’s Cuts Trickle Down to Core Customers

What does the price of oil have to do with sales at Irvine-based Boot Barn Holdings Inc.?

KBS Goes to Israel For Public Listing Of REIT’s Bonds

REAL ESTATE: Raises $250M with debt-based offering in Tel Aviv

A nontraded real estate investment trust run by Newport Beach-based KBS Realty Advisors has taken a unique track for going public, raising nearly $250 million through a bond offering in Israel.

NBFF Finds Niche; Calle Moves Up

Here’s a take worth the telling before it gets overwhelmed by all the beautiful people bound to keep hotels and restaurants hopping as a byproduct of the 17th annual Newport Beach Film Festival, which starts this week: Executive Director Gregg Schwenk says well-heeled cinema buffs account for many of the 50,000 or so visitors the event regularly attracts, but he also notes that certain screenings draw a different crowd, with representatives from distributors and other industry pros accounting for as much as 30% of the gate.

CT Sells Chunk of OC Industrial in $191M Deal

REAL ESTATE: Five of nine properties Rexford gets are here

Newport Beach-based CT Realty Investors is selling a portion of its industrial real estate holdings in Orange County as part of a $191 million portfolio deal with a real estate investment trust.

Firm Prepares FDA Bid for Portable Dialysis Device

HEALTHCARE: EasyDial boosts work force in ramp-up

EasyDial Inc., a maker of kidney dialysis devices, has boosted its employment base in anticipation of a Food and Drug Administration approval and a move to Irvine from Laguna Hills.

Kelley Blue Book Shifts Focus

A new marketing campaign by Irvine-based Kelley Blue Book aims to help the 90-year-old company build a reputation as a “go-to resource” for new-car buyers, alongside its longstanding status as a guide on used-car valuations.

Professor Who Raised Chapman’s Profile Mourned

Future Format Unclear For Forecasts He Helped Create

Economic forecasting can be like shoveling fog. It involves skillfull interpretation of vague and complex trends, and encompasses multiple skills, such as economic theory and technical training in statistics, according to economic experts.

Private Companies Wanted for Annual List

SPECIAL ISSUE: list will be centerpiece of June 20 edition

The Business Journal is preparing its annual list of privately owned companies for publication in June.

Software Maker Takes in $6.7 Million

Rancho Santa Margarita data analytics software maker Compellon raised $6.7 million in a Series A funding round led by Beverly Hills-based Kairos Ventures, which committed $5 million.

Textile Maker Bought By Ohio Company

Irvine-based textile manufacturer Momentum Group was acquired on undisclosed terms by the private equity company Riverside Co., which is headquartered in Cleveland, Ohio.

Opus Bank Buys IRA Services Firm

Irvine-based Opus Bank acquired San Francisco-based PENSCO Trust Company, an alternative-asset investment advisor for IRAs, in a cash and stock deal worth about $104 million.

Chapman Starts Communication School

Chapman University will launch a School of Communication on June 1 to be headed by Lisa Sparks, who was appointed its dean by Chapman President Jim Doti following a unanimous faculty vote.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No.16

Los Angeles-based manufacturer American Apparel Inc. laid off more than 80 people at its Garden Grove factory, a number that could grow to 150, according to news reports.

All-Cash Transactions on Rise at High End of Market

Foreign, Local Buyers Seek Out Safe Investments

All-cash sales for luxury properties are on the rise, according to Irvine-based CoreLogic, which provides financial, property and consumer analytics, and tracks current trends.

OCBJ Calendar

April 18-27, 2016; May 4, 2016

This week's business and other event listings.

Edwards Test Results Could Give it Some Separation

Valves as Good or Better Than Surgery on Some

Edwards Lifesciences Corp. is getting approving nods in the wake of positive clinical trial results for its Edwards Sapien transcatheter heart valves on a sizable patient population.

New Plaza Regency’s Alternative to Powerhouse Centers

Gourmet Grocer Anchors Unique Mix at Center

Developer Regency Centers wanted to build more than just another strip mall in Brea—it envisioned a retail and dining hub that prompts nearby residents to abandon the comforts of online shopping and walk over for a bite or a drink with a neighbor. It also had to stand apart from the surrounding offerings, a plethora of middle-of-the-road chain stores and restaurants that often make one street corner look like the next.

New Ingram Owner Makes Good With Acquisitions

Deal to Buy Cloud App Distributor to Add Revenue

Ingram Micro Inc.’s pending owner is making good on its word to invest in the Irvine-based company after its $6 billion sale.

Real Estate Deals

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

Beauty and personal care company SeneGence International signed a seven-year lease at 19651 Alter in Foothill Ranch for $4.5 million.

Inland Empire Posts Strong First Quarter

The Inland Empire industrial market continued to show no signs of deceleration as gross activity remained strong in the first quarter, totaling 9.6 million square feet.

Obey Investor Snaps Up Industrial Building in IBC

79K SF Building Sells For $11.8M; Move Planned

An investor with ties to Irvine-based Obey Clothing has bought an industrial facility close to one of the apparel maker’s facilities near John Wayne Airport.

Software Platform Firm Nets $3 Million in Seed Round

Funds to Go Into Oil, Gas Clients That Got It Started

Exara, based in San Juan Capistrano as part of Frost Data Capital’s incubator, closed out its seed round of financing, which brought it more than $3 million.

Historic Deals, Hefty Effect for Public Cos.

ECONOMY: Edwards Lifesciences fills vacuum, claims top spot

The two biggest sales of locally based public companies in Orange County’s history brought an equally historic reduction to the rest of the field. The 100 entries that make up this year’s list of the largest public companies had a combined market capitalization of $98 billion as of March 31, down 53% from a year earlier.

Friday, April 15

Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,078.19.

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Port Chief On President’s Advisory Group

U.S. Department of Commerce Secretary Penny Pritzker named Port of Long Beach Chief Executive Jon Slangerup to the department’s advisory committee on supply chain competitiveness.

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Santa Margarita Toyota Sold

Jim Graham, owner of Santa Margarita Ford, acquired Santa Margarita Toyota from John Dinsmore.

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Unemployment Unchanged

Orange County added 8,800 jobs in March to maintain a 4% unemployment rate.

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DFM Taps Register Opinion Editor

Digital First Media expanded Brian Calle’s duties as opinion editor at the Orange County Register in Santa Ana and Riverside-based Press-Enterprise to include oversight of the editorial board and opinion content for its entire Southern California News Group.

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Stone Firm Enters Two States

Anaheim-based Bedrosians bought Oregon Tile & Marble, in Medford, Ore.

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Thursday, April 14

Anaheim Food Co. Names CEO

Anaheim-based food maker Nellson Nutraceutical named Jamie Better its Chief Executive.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,084.95.

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Opus Makes $104M Buy

Irvine-based Opus Bank bought PENSCO Trust Company, an IRA services firm in San Francisco, in a cash and stock deal worth about $104 million.

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Johnny Rockets in Rebranding

Johnny Rockets Restaurant Group plans to recast the retro burger chain for a changing customer base.

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NAWBO Honors Gilbert, Dickson

Loreen Gilbert, president of Irvine-based WealthWise Financial Services, is scheduled to receive the Business Owner of the Year Award.

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Wednesday, April 13

Appraiser Buys in Reno

Orange-based real estate appraisal company LRES acquired InsideValuation, a commercial and residential appraisal company in Reno, Nevada, on undisclosed terms.

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Textile Maker Sold to Ohio PE Firm

Irvine-based textile supplier Momentum Group has been acquired on undisclosed terms by private equity company the Riverside Company, which is headquartered in Cleveland, Ohio.

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House of Blues to Add 100 Jobs

House of Blues Anaheim owner Live Nation Entertainment Inc. lists a May 31 closing date for the Downtown Disney venue in a filing with the California Employment Department.

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Midday Stock Roundup

The S&P 500 was up 0.8% in midday trading to 2,077.58.

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OCBJ Calendar

April 11-20, 2016; May 4, 2016

This week's business and other event listings.

Volcom Taps Agency Vet as Head of Women’s Business

Volcom Taps Agency Vet as Head of Women’s Business

Volcom Inc. in Costa Mesa picked agency vet Lyndsey Roach as its global head of women’s business, a new position.

Boeing May Cut More in OC to Boost Competitiveness

To Trim 4K Jobs Across Co. to Vie With Airbus

More job cuts could be looming at Boeing Co.’s Seal Beach, Huntington Beach and Long Beach operations as the aerospace giant looks to trim thousands of positions across the country to improve its position against Airbus, a rival on commercial aircraft.

Real Estate Deals

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

DeCarion Living Trust sold an office building in Laguna Niguel to Sarshar Family Trust for $5.1 million, or about $237 per square foot.

Auxilio Boss Discusses Diversification and Contracts

Print Provider Grows IT Security Business, More

Mission Viejo-based Auxilio Inc. is combining diversification plays and growth in its core as a managed print services company focused on the healthcare industry.

OCBJ Calendar

April 11-20, 2016; May 4, 2016

This week's business and other event listings.

Tuesday, April 12

CoreLogic Names New CFO

Irvine-based CoreLogic Inc. said James Balas is its new Chief Financial Officer.

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Midday Stock Roundup

The S&P 500 was up 0.8% in midday trading to 2,057.16.

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RSM Data Firm Raises $6.7M

Rancho Santa Margarita data analytics software maker Compellon has raised $6.7 million in a Series A funding round.

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Monday, April 11

Checks Mailed in St. Joe Settlement

Plaintiffs in a recently settled class-action data breach lawsuit against Irvine-based St. Joseph Health have started to receive their payouts.

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Chapman to Start Comm School

Chapman University will establish a School of Communication on June 1.

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Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,053.53.

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Growth Hack Gives Full Time to Promotion Technique

Entrepreneur Who Coined Term Has 150K Followers

An OC resident who’s an expert on “growth hacking” is now focused on the pursuit full time. Sean Ellis, who famously coined the term when he was at San Francisco-based Dropbox, just sold his survey business, Qualaroo, so that his team could focus on its sister business, GrowthHackers.

Printers Flat on Sales in 2015, Trend Offset Still Tops

30 Biggest Combine to Stay About Even at $618M

The local printing industry isn’t dead, but it’s not growing either. That’s the takeaway from a review of Orange County’s 30 largest commercial printers, which combined for $617.7 million in sales last year, about the same as in 2014.

Ad Shops’ Revenue Up 12.8%, Combine for $1.36B

Year of Corporate Tweaks; Advantage Remains No. 1

Orange County’s largest advertising agencies posted an estimated 12.8% gain in revenue last year, the second consecutive year the group has surpassed the $1 billion benchmark.

Low-Rise Office Market Vacancies Rose in Q4

The last half of 2015 was sluggish for the low-rise office market in Orange County, though the year-end numbers were healthy.

Menlo Lists Mazda’s Current Spectrum Home for Sale

Carmaker to Relocate From Site With Growth Potential

The Irvine Spectrum home of Mazda North America Operations has been put on the market about three months after Orange County’s largest automaker announced plans to relocate to a new office tower down the street.

ADDENDUM

Pacific Sunwear of California Inc. in Anaheim filed for bankruptcy protection and said it will convert debt into equity for creditor Golden Gate Capital.

PHILANTHROPY

The JDRF Orange County Chapter’s 20th anniversary Platinum Dream Gala brought together 500 business leaders, sponsors and organization supporters to help raise more than $1.1 million for diabetes research.

NB Insurer Buys Washington Company

Newport Beach-based Alliant Insurance Services acquired Andre-Romberg Insurance Agency in Spokane, Wash.

Anton & Chia Adds Canada Firm Clients

Newport Beach-based accounting firm Anton & Chia LLP acquired the U.S.-reporting clients of McCormack Su & Co. in Vancouver, Canada. Terms of the deal were undisclosed.

Engineering Firm Fetches $7.4M

Irvine-based Excalibur Engineering Inc. was acquired April 1 by Transcat Inc. in Rochester, N.Y., for $7.4 million in cash.

Confie Picks Up First Agency in Mass.

Huntington Beach-based insurer Confie entered the Massachusetts market with the acquisition of Axiom Insurance Agency in Springfield on undisclosed terms.

Yokohama Tire Gets Olympic Boost

MARKETING: LPGA deal benefits from schedule shift

Yokohama Tire Corp.’s namesake Ladies Professional Golf Association tournament will help decide who will compete in the Rio Summer Olympics—a task that’s necessary for the first time since the sport was removed from the Olympic lineup 112 years ago.

St. Regis Nearly Ready for Close-Up, New Name

HOSPITALITY: Restaurants, spa follow room renovations

The coming independence of St. Regis Monarch Beach Resort in Dana Point after its two-year, $40 million renovation is a bid to reposition the 169-acre property in the pantheon of OC’s luxe layouts.

X Marks New Spot: JetSuite Plans Scheduled Flights

AVIATION: New brand to start in Burbank, try JWA

Irvine-based JetSuite Inc. will apply in August to carry 40,000 passengers a year on scheduled flights out of John Wayne Airport starting in January—a 20-fold increase over its charter business here.

Gavin Likes It; OCMA Sticks to Mission

A bit of chit-chat over a brisket sandwich early last week offered a surprising indicator that OC Hall-of-Famer Gavin Herbert wasn’t at all sold on the notion that Pfizer would wrap up its buy of Allergan PLC, the latest iteration of the company he founded. It wasn’t long before Wall Street and everyone else followed Herbert to the same conclusion—after the Treasury Department derailed the deal by essentially cancelling the benefit of a tax-inversion that Allergan would have brought via its on-the-books HQ in Ireland

DFM Flips Register Land to Harrah

MEDIA: New owner sees route to profits as renter with 11 SoCal dailies

Digital First Media holds the reins at the Orange County Register, but the 14.3 acres surrounding the daily newspaper’s operations at 625 N. Grand Ave. in Santa Ana went to developer Mike Harrah for $34 million.

Allergan Looks To New Opportunities

HEALTHCARE: Focuses on own buys after Pfizer deal falters

Allergan PLC is back in the hunt for deals in its seven core therapeutic areas, including ones that could complement products developed at its Irvine hub for Botox, medical aesthetics, dermatology and ophthalmology.

Phoenix Builder Grows Pipeline With $55M Buy

REAL ESTATE: May get most of biggest Santa Ana mixed-use project

Alliance Residential, a Phoenix-based apartment investor and builder with a growing pipeline of projects in Orange County, has bought a portion of the largest mixed-use development planned in Santa Ana.

Aston–tatious Saleswomanship

Luxe Brand’s Americas Head Puts Promotion in High Gear

Laura Schwab’s latest marketing move resembles a Depression-era anecdote about a mother feeding a whole family with one potato.

Broadcom Buildings on Block?

Real Estate Sources Expect Sales Effort; FivePoint Comfortable With Contingencies

Broadcom Ltd. is exploring a sale of one or more buildings now under construction at its new office campus at the Great Park Neighborhoods development site in Irvine, according to real estate sources.

Sunday, April 10

Chapman’s Esmael Adibi Dies

Chapman University professor of economics Esmael Adibi died from complications of a stroke Friday, April 8.

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Friday, April 8

UCI Gets Grant for Physics Majors

The National Science Foundation has awarded approximately $1 million to the University of California-Irvine for research to discern the best ways to support low-income students who want to major in physics and for scholarships for these students.

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,046.26.

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Thursday, April 7

Golden State Buys Out KanPak

Golden State Foods bought the portions of two companies it has held controlling interests in since 2013.

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Music Festival Debuts in Dana

A music festival will debut at Doheny State Beach in Dana Point August 27-28, a press release said.

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Private Companies Sought for Annual List

Special Issue: list will be centerpiece of June 20 edition

The Business Journal is preparing its annual list of privately owned companies for publication in June.

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BlizzCon Dates Set

Irvine-based Blizzard Entertainment Inc.’s annual fanfest is November 4 and 5 at the Anaheim Convention Center.

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Midday Stock Roundup

Stock indices were down in midday trading on declines in oil prices and in banking and technology stocks.

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PacSun Files BK

Pacific Sunwear of California Inc. in Anaheim filed for bankruptcy protection and said it will convert debt into equity for creditor Golden Gate Capital.

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NB Accounting Firm Makes Buy

Newport Beach–based accounting firm Anton & Chia LLP has acquired the U.S.-reporting clients of McCormack Su & Company in Vancouver, Canada.

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Wednesday, April 6

Midday Stock Roundup

The S&P 500 was up 0.7% in midday trading to 2,058.52.

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Allergan Still on Hunt for Deals

Allergan PLC Chief Executive Brent Saunders said today that the drug maker will continue to seek “growth pharma” deals—including possible acquisitions that would complement its Irvine hub for Botox, ophthalmology and medical aesthetics—after the termination of its $160 billion mega-deal with Pfizer Inc.

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Tuesday, April 5

Midday Stock Roundup

The S&P 500 was down 0.9% in midday trading to 2,047.20.

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PacSun to File for Bankruptcy

Pacific Sunwear of California Inc. is preparing to file for bankruptcy next week, according to news reports.

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Monday, April 4

Hydrox Maker Expands Kroger Deal

Newport Beach-based Leaf Brands said it will expand distribution of its Hydrox cookies via Cincinnati-headquartered Kroger Co. supermarkets.

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,067.24.

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Edwards Surges on Valve Trial

Irvine-based Edwards Lifesciences Corp.’s shares shot up today after it reported positive results on a pair of less-invasive replacement heart valve clinical trials.

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Banc of California Names New CAO

Irvine-based Banc of California, Inc. promoted Thedora Nickel to Chief Administrative Officer from executive vice president of operations.

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Confie Buys in Massachusetts

Huntington Beach-based insurer Confie has entered the Massachusetts market with the acquisition of Axiom Insurance Agency in Springfield.

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Alliant Buys Agency in Spokane

Newport Beach-based Alliant Insurance Services has acquired Andre-Romberg Insurance Agency in Spokane, Wash.

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Engineering Firm Purchased for $7M

Irvine-based Excalibur Engineering, Inc. was acquired April 1 by Transcat Inc. in Rochester, New York, for $7.35 million in cash.

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Glaucoma Device Gets Japan Approval

The Japanese Ministry of Health, Labor and Welfare approved a glaucoma device made by Laguna Hills-based Glaukos Corp.

UCI to Start E-sports Program in Fall

University of California-Irvine will launch an e-sports program this fall with a new arena equipped with high-end gaming PCs, a staging area for League of Legends competitions, and a live webcasting studio at the Student Center.

St. Regis Resort Drops Brand Name

St. Regis Monarch Beach in Dana Point will drop its “flag” and change its name to Monarch Beach Resort on June 1.

Plans Filed for NB Convalescent, Congregate Facility

HEALTHCARE: 128 units would replace existing eatery

CenterPointe Senior Living LLC has filed plans with Newport Beach city officials to build a 109,633-square-foot, 128-unit convalescent and congregate care facility that it hopes to open roughly two years from now.

New SaaS Firm Name Reflects Evolution

TECHNOLOGY: Avetta helps companies vet suppliers

PICS Auditing LLC, an Irvine-based software-as-a-service company that specializes in prequalification of vendors, dropped the Pacific Industrial Contactor Screening acronym and rebranded itself Avetta.

Palace Parent Could Turn to IPO to Pay Off Debt

HOSPITALITY: Parks operator $430M note due next year

The parent of Newport Beach-based Palace Entertainment LLC could turn to an initial public offering as a way to pay down $430 million of the leisure-park unit’s debt that’s due in about a year and a $120 million credit line that needs to be reset by mid-January.

Lincoln Adds Small Offices to Mix of Tustin Campus

Lincoln Adds Small Offices to Mix of Tustin Campus

A batch of small for-lease buildings are being added to the mix at the Tustin Legacy development, Orange County’s first ground-up creative-office campus.

UCI’s New Game Face; Oscar Winner in Focus at Chapman

A sign of the times: UC Irvine’s men’s basketball team didn’t make much of a ripple in the media—print, new, social or otherwise—considering they were the last Southern California squad standing in the post-season this year.

CSUF’s Q2 Outlook Tends Toward Optimism

Orange County executives are entering the second quarter with slightly more optimistic business expectations, according to the latest quarterly survey released by California State University-Fullerton’s Mihaylo College of Business and Economics.

Orange Has Largest Women-Owned Law Firm in US

SERVICES: Walsworth tips to female majority on equity partners

The proverbial glass ceiling does not exist at Walsworth Law Firm in Orange.

Broadcom Switches Gears Under New Owner

A recently extended supply agreement with Apple Inc. indicates the new guard at Broadcom Ltd. will handle operations differently than the company it was named after.

Is 'Timeless' Timely in Newport Center?

Developers of Luxe Condos Proposed for Car Wash Site Have Jump on Entitlements

The owners of the Newport Beach Car Wash are looking to make their mark on Newport Center’s residential market with an upscale housing project that aims to become what they call “a work of public art.”

Chinese Buyers Want More Than Big Houses

Developers, Backers Buy Into Commercial Market

Beijing-based Anbang Insurance Group Co.’s bid to buy two of Orange County’s premier resort properties—Montage Laguna Beach and The Ritz-Carlton, Laguna Niguel—as part of a larger national portfolio deal marks a new high-water mark in Chinese companies’ recent investment push into the area’s commercial real estate sector.

Top Property Managers Grow OC Accounts for 4th Year

5M SF of Buildings Added Over Past Two Years

Orange County’s largest commercial property managers’ local portfolios grew modestly over the past year as they made larger gains outside the area.

Brokers Boost Sales, Leases for Sixth Year of Gains

Investment Sales Help Push Up Total By 16%

Increased property sales volume, particularly for larger buildings and land sites, in addition to gains in leasing activity, resulted in another strong year for Orange County’s largest commercial brokerages.

Telemedicine Startup Debuts App in Vietnam

Irvine-based Jio Health Targets Emerging Countries

A telemedicine startup debuted its app in Vietnam last week. Irvine-based Jio Health created an app that provides residents of emerging countries such as Vietnam with greater access to healthcare providers.

Burnham Adds Office to Lido Marina Village Assets

Deal With DJM Follows Olen Office, Land Deal

Two real estate owners behind much of the redevelopment now under way in the Lido Marina Village area of Newport Beach have traded one of the bigger office buildings there.

High-Rise Office Finished 2015 Strong

The high-rise market in Orange County ended the fourth quarter with steady demand, resulting in 271,620 square feet of positive net absorption.

Real Estate Deal

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

JRMV Investments Inc. sold an industrial building in Santa Ana to Electrolurgy Manufacturing Inc. for $4 million, or about $172.27 per square foot.

NextVR Plans to Double Work Force as Sector Heats Up

Company Might Move To New Digs in Irvine

Laguna Beach-based virtual reality content maker NextVR Inc. is scouting areas in Orange County to expand operations and accommodate its growing employment base.

Agencies Take Home Load of OC ADDY Awards

Winners Move to Next Round in Contest

The American Advertising Federation of Orange County held its annual awards ceremony at the Bowers Museum in Santa Ana.

Ambry Genetics Founder Resigns After Diagnosis

Will Chair Board, Serve As President; COO Now CEO

Aliso Viejo-based Ambry Genetics Corp. said late last month that its founder and chief executive, Charles Dunlop, would assume the roles of board chairman and president.

OCBJ Calendar

April 4-13, 2016

This week's business and other event listings.

Early 2016 Sales Show High-End Home Market Surge

Early 2016 Sales Show High-End Home Market Surge

ifty-five homes closed above the $4 million mark in the first quarter, with a week still to go at press time, bringing a total of $371.2 million.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No.14

The Wet Seal LLC in Irvine hired Judd Tirnauer as executive vice president and chief financial officer, effective May 1.

News Flows From All Corners of OC’s Food World

Novel Ventures; Cookbook Morsel; Retooled Irish Fare

After decades in South Coast Plaza’s Crate and Barrel/Macy’s Home Store wing, Nello Cucina is no more. Antonio Cagnolo shuttered the operation in late February, focusing on his three other restaurants: Antonello Ristorante, Quattro Caffé and Antonello Espresso Café.

eBay Buys Irvine Automotive Marketer

Cargigi Inc. in Irvine was acquired by eBay Inc. on undisclosed terms.

Friday, April 1

Mitsubishi Beats National Sales Pace

Only one of four Orange County-based automakers exceeded the national sales pace for new vehicles in March, according to New Jersey-based market researcher Autodata Corp.

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Top Digital First Editor to Oversee Register Newsroom

Digital First Media’s Executive Editor Frank Pine will be in charge of the Orange County Register in Santa Ana and the Press-Enterprise in Riverside, according to sources close to the matter.

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Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,067.33.

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Mirman Exits Freedom

Freedom Communications Inc. Chief Executive Rich Mirman was let go Thursday along with about 70 staffers, including Editor and Senior Vice President of Content Rob Curley; Vice President of Circulation Bruce Blair; and Lake Trout, senior vice president of sales.

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Bloomingdale’s to Join Orange Outlets

The Outlets at Orange said it will add a Bloomingdale’s outlet to its 120-tenant lineup at a shopping center in Orange.

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Brandman Adds to CBE Degrees

Brandman University in Irvine has added a second “competency based education” online bachelor’s degree program—a bachelor of science in information technology.

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