Stories for February 2016

Monday, February 29

HB Hilton in $140M Deal

The Waterfront Beach Resort, a Hilton Hotel in Huntington Beach put together a $140 million financing and land acquisition deal for its long-planned expansion.

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Kawasaki USA Chief to Retire

Kawasaki Motors Corp. U.S.A President Masafumi Nakagawa plans to retire in April.

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Midday Stock Roundup

The S&P 500 was up 0.3% to 1,952.75.

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Former Disneyland President Dies

Former Disneyland Resort President Jack Lindquist died Sunday. He was 88.

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Billabong Posts Narrow Loss

The parent of Irvine-based action sports apparel maker and retailer Billabong USA saw global revenue of about $401 million in the first half of its fiscal 2016, a 7.6% increase, excluding the impact of exchange rates.

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Real Estate Deals

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

Dolce Vita Property Investment LLC sold an industrial flex building in Anaheim to American General for $460,000, or about $176.92 per square foot.

Blizzard Ends 2015 Strong, Looks Ahead to Releases

Free-to-Play Game Helps Offset Subscriber Losses

Analyzing Blizzard Entertainment Inc.’s performance is a bit trickier these days after the Irvine-based video game publisher stopped disclosing subscription figures for its World of Warcraft franchise, but other metrics point to a strong close to 2015 and positive indicators for the new year.

Great Wolf Opens Park, Starts ‘Storytelling’ Campaign

Ads That Don’t Name It A ‘Gamble’ in New Market

Great Wolf Lodge Southern California in Garden Grove, a 603-suite resort that features a massive indoor waterpark, this month ushered in its first guests—and its inaugural ad campaign.

Minority-Owned Companies’ Revenue Up 9% in 2015

ECONOMY: 80 Take in $16B- Plus, Keep Employment Flat

The largest minority-owned businesses with headquarters in Orange County combined for just a little over $16 billion in revenue last year, up 9% over 2014’s number and the same percentage increase as last year’s.

Startup Seals Deal With IBM for Language Technology

Kadho Evolves From Games to Kids’ Toy

Kadho is branching out from its gaming app roots. The startup, based at The Vine in University Research Park in Irvine, recently signed a contract with New York-based IBM to create a toy.

Plaza Tower Adds Services Firms, Designer to Mix

New Porsche Group HQ Joins Morgan Lewis, BDO

Plaza Tower in Costa Mesa, the best-known building in the office market near South Coast Plaza, has gotten a trio of new and expanding tenants that are taking more than 60,000 square feet of space combined.

Industrial Market’s Year-Over-Year Vacancies Drop By Nearly a Third

The fourth-quarter manufacturing and warehouse sector vacancy rate in Orange County held steady compared to third quarter rates at 1.8%, representing a 30.8% year-over-year drop.

St. Joseph Hoag Boss Talks New Health Concept

‘Kinetic’ to Spread After Debut in Newport Center

Irvine-based St. Joseph Hoag Health’s emphasis on “population health management” is one of the driving forces in its participation in Newport Beach-based landlord Irvine Company’s new Kinetic project.

OCBJ Calendar

Feb. 29-March 9, 2016

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No.9

Peregrine Pharmaceuticals Inc. said it will discontinue an ongoing third-phase clinical trial of its lead compound, bavituximab, in patients with previously treated lung cancer.

PHILANTHROPY

The Orange County Funders Roundtable’s 2016 Summit on Feb. 4 and 5 at Disney’s Paradise Pier Hotel in Anaheim brought together 280 local philanthropic and business leaders for two days of learning and brainstorming about how to address emerging community needs.

Gaming Products Maker Gets $75 Million

Irvine-based Razer Inc. sold a 5% stake in the gaming technology company for $75 million to China-based LianLuo, an affiliate of Hangzhou Liaison Interactive Technology, news reports and Hangzhou said.

United Capital Acquires Wealth Scorer

Newport Beach-based United Capital Financial Advisers LLC acquired FlexScore, a financial technology product.

Local Hotel Development on the Rise

Orange County had 37 hotels with 6,705 rooms under construction or in the planning stage at the end of last year, a report by Irvine-based Atlas Hospitality Group Inc. said.

Chinese Investor’s WD Stake Buy Is Off

Irvine-based Western Digital Corp. said a unit of China-based Unisplendour Corp. Ltd. won’t buy a 15% stake in the storage products maker for $3.8 billion after a U.S. government agency said the deal would undergo a formal review.

OC Device Makers Make Deals to Boost Competencies

Buys Over Past Year Buck Cost-Containment Trend

An Orange County exception: Recent large deals in the U.S. medical device industry have followed a trend of portfolio diversification as hospital customers pressure device makers to hold down costs and move away from pricey implants.

Wanted: Best Places to Work for OCBJ’s Listing

CALL FOR ENTRIES: Website set to take entries until March 18

Is your workplace great?

PIMCO Rehires Exec for Big-Data Duties

Newport Beach-based Pacific Investment Management Co. announced that Jamil Baz will rejoin the firm on May 2 as managing director and head of client analytics.

Monster Pays $690 Million for LA Flavor Supplier

MANUFACTURING: Allows drink developer to retain recipes

Monster Beverage Corp.—based in Corona and with corporate roots in and senior executive connections to Orange County—bought Pacoima-based American Fruits and Flavors last week for $690 million.

M&A Activity Jumps 15% With 351 Deals

IT, healthcare lead the way; 2016 activity expected strong

Orange County accelerated its already vigorous mergers and acquisitions pace last year as 351 businesses traded hands here.

LA’s Wealthiest Gets Another Foothold in OC

HEALTHCARE: Drug company might compete with prior venture

One of the latest creations of Los Angeles-based billionaire entrepreneur Dr. Patrick Soon-Shiong is making a big bet on an Orange County cancer drug developer.

Irvine on Agenda; Wall’s New Digs; Gross X 2

Irvine continues to punch well above its weight as it grows into a globally renowned center of commerce.

Layoffs Not In Plans for Ingram

TECHNOLOGY: Sale to Tianjin won’t impact day-to-day operations

It appears the $6 billion deal for Irvine-based Ingram Micro Inc. will not result in the type of layoffs and management changes that ushered in a new era for Broadcom Corp. after its blockbuster sale closed a month ago.

Big Move For Big-Data Firm

TECHNOLOGY: VC-backed Alteryx to Park Place, plans 100 hires

Analytics software maker Alteryx Inc. has signed a deal to move its headquarters to an office at the Park Place campus in Irvine, a shift that will accommodate the venture capital-backed technology company’s plan to double its local workforce.

Law Campus on Sales Block

14 Acres May Be Next in Line for Development in Costa Mesa

Whittier Law School is exploring a sale of its expansive campus in Costa Mesa.

Newport Center Condo Tower Plan Bound for Scrutiny

Project Could Trigger Slow-Growth Restrictions, Draw Objections Over Height

Related California appears to face an uphill battle to build Orange County’s tallest residential tower in Newport Center.

Friday, February 26

Billabong Posts Narrow Loss

The parent of Irvine-based action sports apparel maker and retailer Billabong USA saw global revenue of $400.63 million in the first half of its fiscal 2016, a 7.6% increase excluding the impact of exchange rates.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 1,954.01.

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Fujifilm Moves Optics to OC

The optical device division of Fujifilm North America Corp. has moved its West Coast headquarters from Redondo Beach to the company's facility in Cypress.

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Peregrine Drops Trial; Shares Crash

Shares of Tustin-based drug developer Peregrine Pharmaceuticals Inc. fell sharply today, a day after the company said it would discontinue a third-phase clinical trial.

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Thursday, February 25

Long Beach Airport Director Decamps

Bryant Francis has resigned as Long Beach Airport director to take a similar role at Oakland International Airport.

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Hotel Sales Dollars Doubled in 2015

Fewer hotels sold for more money last year in Orange County.

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Pacifica Adds to Cambria Holdings

Irvine-based Pacifica Hotels bought the San Simeon Pines Seaside Resort in Cambria, Calif.

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Midday Stock Roundup

The S&P 500 was up 0.4% to 1,937.61.

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Wednesday, February 24

KTGY Names New Chairman

Irvine-based architecture firm KTGY Group Inc. named Jill D. Williams its new board chairman.

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Midday Stock Roundup

The S&P 500 was down 0.7% to 1,908.43.

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Tuesday, February 23

Gaming Products Maker Gets $75M

Irvine-based Razer Inc. sold a 5% stake in the gaming technology company for $75 million to China-based LianLuo, an affiliate of Hangzhou Liaison Interactive Technology, news reports and Hangzhou said.

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Masimo Q4 Profits, Revenues Up

Irvine-based patient monitor maker Masimo Corp. today reported financial results.

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Midday Stock Roundup

Indices were down in midday training as the energy market softened.

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Newport Corp. Bought for $980M

Irvine-based Newport Corp. has agreed to a $980 million all-cash sale to Massachusetts-based MKS Instruments. The deal is expected to close in the second quarter.

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WD Deal for Stake by Chinese Investor Off

Irvine-based Western Digital Corp. said a unit of China-based Unisplendour Corp. Ltd. would not buy a 15% stake in the storage products maker for $3.8 billion after a U.S. government agency said the deal would undergo a formal review.

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Del Taco to Enter Pennsylvania

Lake Forest-based Del Taco Restaurants Inc. plans to enter a new market in 2018 with the first of six franchised stores in Pennsylvania.

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Monday, February 22

United Capital Buys Wealth Scorer

Newport Beach-based United Capital Financial Advisers LLC has acquired FlexScore, a financial technology product designed to help customers.

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Midday Stock Roundup

Market indices were up as the price of oil futures rose.

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WD Investor Opposes $19B SanDisk Buy

One of Western Digital Corp.’s largest investors plans to vote against its $19 billion takeover of Milpitas-based SanDisk Corp. at a special shareholders meeting next month.

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OC Hotel Development Rising

Orange County had 37 hotels with 6,705 rooms under construction or in planning at the end of 2015, a report by Irvine-based Atlas Hospitality Group Inc. said.

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Broadcom Shifts Into Higher Auto Tech Gear

TECHNOLOGY: Patent OK accelerates role in hot segment

A recent patent approval for Broadcom Ltd. highlights the chipmaker’s ongoing push to become an influential supplier in the hot automotive sector.

New-Home Sales Slide in ’15 Amid Declining Supply

New Community Count Now Picking Up Across OC

New-home sales in Orange County took a step back last year as two of the region’s three largest master-planned developments brought no new offerings on line until late in the year.

Lennar’s Central Park West Gets Ownership Tweak

Bolsters Majority Stake As More Homes Are in Works

The Central Park West development in Irvine, where a heavy amount of groundwork is under way in preparation for another slate of homebuilding, has gotten a tweak in its ownership structure.

Mid-Counties Industrial Market Activity Surges in Q4

New business migrated to the Mid-Counties industrial market that straddles the Orange-Los Angeles line in the fourth quarter, and existing business expanded, resulting in 1.9 million square feet of positive net absorption last year, the highest level in the market since 2005.

Real Estate Deals

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

CRPF II Canyon LLC sold an industrial warehouse condominium in Anaheim to Felling Family Partnership LP for $1.7 million, or about $171 per square foot.

Irvine Outfit Gets Early Stake in Body Camera Trend

Zadara Partners With Firm For Storage, Organization

In Irvine-based startup is providing key technology to a growing number of law enforcement agencies that are equipping officers with body cameras.

Quiksilver Promotes ‘Vision of Life’ in New Campaign

Says, ‘Stay High’ In Design, State of Mind

Huntington Beach-based Quiksilver, fresh out of bankruptcy, launched a “Stay High!” brand campaign to emphasize the apparel and footwear maker’s “vision of life, finding positive and getting stoked.”

UCI Health Search Chair Reflects on Federoff Selection

Process Also Resulted In New Vision for Enterprise

UC Irvine Health, the University of California-Irvine’s health enterprise, set out to find a chief executive to succeed the now-retired Terry Belmont last year, an effort that took some twists and turns prior to the naming of Dr. Howard Federoff as the permanent chief last month.

OCTANe Diversifies for Comprehensive Startup Help

Will Provide More Access To Capital and Advisers

Aliso Viejo-based OCTANe is branching out into providing for-profit advisory services and capital for startups.

OCBJ Calendar

Feb. 22-March 2, 2016

This week's business and other event listings.

Exceptional Oceanfront Property Shatters Sales Record

‘Twin Points’ Sold By Agent With No. 3 Sale

Twin Points, a 2.28-acre oceanfront property at 1101 Marine Drive in Laguna Beach, recently set a record $45 million Orange County home sale price, though off its original June list price of $75 million.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 8

Irvine-based Banc of California was named the official commercial bank of the committee trying to land the 2024 summer Olympics for Los Angeles. The Business Journal recently ranked the bank the fastest growing public midsize company headquartered in Orange County.

Wanted: Best Places to Work for OCBJ’s List

CALL FOR ENTRIES: Website set to take entries until March 18

Is your workplace great?

Alaska Plans San Jose Flights from JWA

Alaska Airlines plans three daily nonstop flights between John Wayne Airport and San Jose starting June 5 “to connect business travelers between Southern California and Silicon Valley,” a spokesperson said.

NextVR Lands 5-Year Fox Sports Deal

Laguna Beach-based NextVR Inc. will broadcast virtual reality content in a five-year agreement with Fox Sports.

Startup Aims to Unearth Good Consumer Credit Risks

FINANCE: Data conduit between lenders, borrowers

Irvine-based RevolutionCredit has been gathering evidence for its products since it received an undisclosed amount of backing in an angel round of financing in 2011.

Office Lease Startup Expands in SoCal

An office-leasing startup at incubator EvoNexus in Irvine is expanding its operations across Southern California.

PRES Snaps Up 12-Story Office Next to MainPlace

REAL ESTATE: Sees additional potential for 4.5-acre site

Irvine-based real estate investment and management firm PRES Cos. has added another Central County office to its local portfolio.

SCP Gets Credit; Irvine Company’s Star on Instagram

Last week brought word of the buzz of activity stirred up by the Lunar New Year around these parts, with everyone from homebuilders to shopping malls beckoning members of the various Asian-American communities in Orange County to the larger American Experiment.

Builders Go Big, Nab Large Land Sites Across OC

Largest Deals of Past Year To Hold 2,500+ Homes

If there’s a housing downturn on the immediate horizon in Orange County, someone forgot to tell the homebuilding industry and its land buyers.

Allergan Boss To Have Key Position After Pfizer Combo

HEALTHCARE: OC businesses to be part of newly created brands unit

Allergan PLC’s Irvine hub for ophthalmology and medical aesthetics is poised to join a new operating unit after Pfizer Inc. wraps up its $160 billion buy of the drugmaker.

ASICS App Buy Puts It Abreast Of Runners Pack

RETAIL: $85M deal latest in string of fitness tech moves by competitors

ASICS America Corp. is just catching up with competition when it comes to mobile sales and marketing.

New Lane for Vets in Need

Shipping Containers Become 15-Unit Complex in Midway City

Potter’s Lane has all the hallmarks of an upscale condominium community: contemporary architecture, a carefully crafted exterior blend of wood and steel, large light-admitting windows, a rooftop deck, and a Zen-like courtyard garden.

Mobile Home Sites Keep OC’s Infill Developers Busy

Over $150M in New Deals As Open Land Disappears

Mobile home parks have become an increasing source of opportunity for local homebuilders seeking infill development locations across Orange County as available land quickly disappears.

Friday, February 19

OC Hotel Development Rising

Orange County had 37 hotels with 6,705 rooms under construction or in planning at the end of 2015, a report by Irvine-based Atlas Hospitality Group Inc. said.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 1,914.77.

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Plaza Bank Triples Quarterly Income

Irvine-based Plaza Bancorp Inc. reported unaudited net income of $3.4 million on net interest income of $11.3 million for its quarter ended Dec. 31.

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BJ’s Earns $11 Million in Quarter

Huntington Beach-based BJ’s Restaurants Inc. reported net income of about $11 million on revenue of $233 million for its quarter ended Dec. 31.

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Vans Revenue Up in Quarter, Year

Vans Inc. revenue was up 3% in the fourth quarter of 2015, according to its parent, Greenboro, N.C.-based VF Corp. The Cypress-based shoe and apparel division’s full-year sales totaled $2.2 billion, a 7% increase compared with 2014.

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Thursday, February 18

Quality Systems Names New CFO

Irvine-based Quality Systems Inc. appointed James Arnold Jr. to the post of chief financial officer, effective March 1.

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CHOC Joins Cancer Initiative

Children’s Hospital of Orange County has joined the Cancer Moonshot 2020 initiative designed to speed development of cancer cures through immunotherapy.

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Midday Stock Roundup

The S&P 500 was down 0.4% to 1,919.82.

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Wednesday, February 17

Ingram Micro Sold for $6B

Ingram Micro Inc. shares surged more than 21% in midday trading after the Irvine-based company said it’s set to be sold for $6 billion to a Chinese conglomerate.

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Alaska to Battle Southwest for San Jose

Alaska Airlines plans three daily nonstop flights between John Wayne Airport and San Jose starting June 5, "to connect business travelers between Southern California and Silicon Valley," a spokesperson said.

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OCVA Foresees Strong OC Hotel Market

Data from the Orange County Visitors Association show increases in revenue per available room and room rates at local hotels this year.

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HB Chamber President Retires

Huntington Beach Chamber of Commerce President and Chief Executive Jerry Wheeler plans to retire April 8.

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Kaiser Aluminum Swings to Loss for 2015

Kaiser Aluminum Corp. said it swung to a loss of $237 million last year.

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Midday Stock Roundup

Indices were up as oil producers pushed for production caps and oil prices rose.

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NextVR Inks Fox Sports Deal

Laguna Beach-based NextVR Inc. will broadcast virtual reality content in a five-year agreement with Fox Sports.

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Broadcom’s Campus Moves Forward on Piecemeal Basis

Not Everything in Works In First Phase of Campus

Recent job cuts at Broadcom Corp.’s local operations following its sale to Avago Technologies Ltd. appear to fall in line with the construction seen so far at the chipmaker’s new office campus being built at Great Park Neighborhoods in Irvine.

Wanted: Best Places to Work for OCBJ’s List

CALL FOR ENTRIES: Website set to take entries until March 18

Is your workplace great?

PHILANTHROPY

The Pacific Life Foundation announced on Jan. 22 that it will provide $6.25 million in funding this year, an increase from the $6 million it gave in 2015.

Opus Hires NY Firm to Fill Niche on Smaller Loans

On Deck To Help Bank Maximize Position

Opus Bank in Irvine signed a marketing and referral agreement with New York-based On Deck Capital Inc., whose financing products focus on small businesses.

Steel-y Approach; Monkey Business; NB’s Shipyard

Give OC Supervisor Michelle Steel credit on understanding what government can actually do to help the local economy, and for sticking to the task at hand.

Irvine Company Takes Amenities Up a Notch

REAL ESTATE: Fitness, health centers, outdoor upgrades

Irvine Company, Orange County’s dominant landlord, is preparing to launch a package of fitness, wellness and outdoor amenities for a large portion of its office portfolio.

Hyundai Seeks New Connections to Consumers

AUTOS: Super Bowl image ad set stage for upcoming campaign

Fountain Valley-based Hyundai Motor America Inc.’s advertising splash during Super Bowl 50 was a setup for a new branding campaign that’s scheduled to be in full swing come spring.

Tourism Group Names Directors, Chair

Visit Anaheim named two new directors and a new board chairman.

OCVA to Set Up Shop in India, Japan

The Orange County Visitors Association is slated to open offices in Tokyo and New Delhi this week.

Kiani Looks for Quantum Leap on Safety Movement

HEALTHCARE: Aims to double number of lives saved to 50,000

Masimo Corp. Chief Executive Joe Kiani wants his brainchild, the Irvine-based Patient Safety Movement Foundation, to reach 50,000 lives saved this year through eliminating medical errors in hospitals.

Lenders Buy Laptop Accessories Maker

Anaheim-based Targus Group International Inc. was acquired by its lenders for an undisclosed amount in a foreclosure sale on Feb. 1.

OC Broadcom Office Bears Brunt of Cuts

San Jose-based Broadcom Ltd. will slash nearly 700 employees in Irvine as part of a nationwide cost-cutting plan under Chief Executive Hock Tan.

St. Joseph Gets Home Nurse Franchises

Irvine-based St. Joseph Health bought 26 Nurse Next Door franchises with an option to buy 12 more.

Cove Fund Vets Diabetes Device, Cell Phone Filter

Angel Investors Start Due Diligence on Pair of Startups

The Cove Fund I selected two startups to move on to the next stage—due diligence—after hosting a pitch session on Jan. 26.

CareTrust Ups Credit, Pays Off Debt, Buys Properties

Wants to Focus on Buys Pipeline Without Equity

San Clemente-based CareTrust REIT Inc. is keeping itself busy as February unfolds by reworking its credit, paying off debt and making deals.

California Fantasy Sports Regulation Bill Advances

Would Introduce Player Vetting, Operator Licenses

Daily fantasy sports operators and fans in California notched a big win at the state legislature late last month that would pave a path to regulating a booming segment of the gaming world.

Real Estate Deals

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

Christine and Jeff Chow sold an industrial condominium in Fullerton to Dolce Vita Property Investments LLC for $1.2 million, or $185 per square foot.

Construction Still Behind Market Demand

More than a million square feet of new commercial space was delivered in Orange County’s industrial market last year, surpassing the 958,241 square feet recorded in 2014.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 7

The Dean of Chapman University’s film school said Rob Cohen will join Don Hahn as artist-in-residence for the spring semester, which started Feb. 1.

OCBJ Calendar

Feb.15-24, 2016

This week's business and other event listings.

Tuesday, February 16

Midday Stock Roundup

Indices were up as a broad-based market rally continued amid stable oil prices and positive quarterly reports.

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MemorialCare, Fresenius Join for Dialysis

Fountain Valley-based MemorialCare Health System said today that it has entered into a joint venture with Fresenius Medical Care North America to operate 15 kidney dialysis clinics in Orange and Los Angeles counties.

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Monday, February 15

Midday Stock Roundup

Markets are closed today for the Presidents Day holiday.

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$100M Makeover in Costa Mesa

Developer Plans Creative-Office Space at Former LA Times Plant

The former Los Angeles Times printing plant in Costa Mesa is slated to be turned into Orange County’s largest creative-office redevelopment project to date.

Hospitals’ Patient Revenue Up 11% Over Year to $6.9B

Biggest Combine to Reverse Previous Year’s 21% Decrease

Net patient revenue at Orange County’s 28 largest hospitals jumped significantly over the past 12 months while the centers posted a narrow pretax loss.

UCI Health’s New Leader Forges Vision for Enterprise

Plans Efficiencies, New Academic Programs, More

A new leader has taken the helm of UC Irvine Health, the University of California-Irvine’s healthcare enterprise, directly overseeing its academic work and with proximity and oversight of its clinical work, something he said is unique among the five UC campuses with extensive medical operations.

Q&A

Orange County hospital and medical group executives say this year will be a busy one for them, with new outpatient centers, technology and changes in how they deliver healthcare. The Business Journal’s Vita Reed asked several local CEOs to share their plans as the year rolls out. Edited excerpts of their responses follow.

Swell Move for Global E-Commerce Operation

RETAIL: OC-grown brand lends name to parent in strategic shift

Swell is about to hit the Asia-Pacific and European markets.

Chapman’s Artsy Uncle

How, Why School Became Home for Couple’s $7 Million Art Collection

Family matters at Chapman University, although that won’t be obvious to visitors to the opening of the school’s Hilbert Museum of California Art later this month.

Fast-Growing Startup Looks to Speed Up

TELECOM: Ultra Mobile tops $150M in revenue in third year

A Costa Mesa-based startup is rolling out two brands to complement its booming international calling card business.

Friday, February 12

Midday Stock Roundup

Indices were up in midday training on strength in the finance and energy sectors.

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Mirman Group Will Wait on Freedom Bid

An investment group led by Freedom Communication Inc. Chief Executive Richard Mirman will not submit the initial or “stalking horse” bid for the company’s assets by today’s deadline.

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VCs Put $140M in OC High Tech in Q4

High-tech companies in Orange County scored more than $140 million in venture capital funding in the fourth quarter of 2015, according to numbers released Thursday by the Irvine office of real estate brokerage Jones Lang LaSalle.

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Ingram Micro Buys in Europe

Irvine-based Ingram Micro Inc. plans to buy the Central and Eastern European operations of Moscow-based RRC Group, a distributor of networking and telecommunications equipment.

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Thursday, February 11

Activision Shares Down on Miss

Shares in Activision Blizzard Inc. fell after it reported results that missed analyst forecasts for revenue and earnings.

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Advantage Adds President

Advantage Solutions named Jeff Hansberry its president and chief commercial officer, a new position, effective March 21.

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Time Inc. Buys Irvine Ad Tech Firm

Irvine-based advertising technology company Viant Inc. was bought by Time Inc. in New York on undisclosed terms.

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First American has $82M Quarter

Santa Ana-based First American Financial Corp. earned net income of $81.6 million on revenue of $1.36 billion for its quarter ended Dec. 31.

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Midday Stock Roundup

The S&P 500 was down 1.5% in midday trading to 1,823.58.

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NB Ad Shop Sold

Newport Beach-based advertising agency O’Leary and Partners has been bought by the Shipyard, a marketing firm in Columbus, Ohio, on undisclosed terms.

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Southwest Gets Long Beach Capacity

Southwest Airlines can add up to four flights at Long Beach Airport under an allocation the facility made this week.

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Wednesday, February 10

New Faces on Visit Anaheim Board

Visit Anaheim named two new directors and a new board chairman.

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Big Job Cuts at Broadcom

San Jose-based Broadcom Ltd. will slash nearly 700 employees in Irvine as part of a nationwide cost-cutting plan under Chief Executive Hock Tan.

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Midday Stock Roundup

The S&P 500 was up 1% in midday trading to 1,868.94.

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Tuesday, February 9

Laptop Accessories Supplier Acquired

Anaheim-based Targus Group International Inc. was acquired by its lenders for an undisclosed amount in a foreclosure sale on Feb. 1.

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Midday Stock Roundup

The S&P 500 was down 0.8% in midday trading to 1,838.64.

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Monday, February 8

Newspaper Takes Over Rival

Nguoi Viet Daily News Inc. in Garden Grove, publisher of Nguoi Viet Daily News, has taken over assets of competitor The Little Saigon News Inc., according to documents filed with the U.S. Bankruptcy Court for the Central District of California in Santa Ana.

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Chapman Sets Artists in Residence

The Dean of Chapman University’s film school said Rob Cohen would join Don Hahn as artist-in-residence for the Spring Semester, which started Feb. 1.

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Midday Stock Roundup

Indices were down sharply in midday trading on a drop in oil prices and a technology industry sell-off.

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St. Joseph Health to Run Home Health Franchises

Irvine-based St. Joseph Health bought 26 Nurse Next Door franchises with an option to buy 12 more.

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OC Weekly Sold

Duncan McIntosh Co. Inc. in Irvine has purchased OC Weekly from Denver-based Voice Media Group Inc. for an undisclosed sum.

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Volunteers Help Solo Litigants Navigate Court Maze

Those With No Legal Reps Include Business Owners

Juan Rodriguez said he never imagined when he and his ex-girlfriend split up that eight years later he would still be in the throes of litigation over custody of their children. He wasn’t sure where to turn for help when he decided to appeal fees paid to a therapist who was not court-appointed. 

International Case Gives Attorney Career High

Says US Supreme Court Win Boosts OC Law Cred

If someone buys a Eurail pass online in the U.S. and then gets injured on a train in Austria, does he or she have the legal right to sue overseas entities in U.S. courts?

2016 Looks Like Another Hot Year for M&As

Law Firms Expect Robust Deal Flow Across Sectors

2015 was another sizzling year for mergers and acquisitions, and Orange County law firms handled some of the biggest transactions. Latham & Watkins and Rutan & Tucker LLP, both based in Costa Mesa, and Newport Beach-based Stradling Yocca Carlson & Rauth PC all got robust M&A business last year and said they anticipate the same this year.

Lennar, Toll Bros. Head for Hills at Great Park

REAL ESTATE: Joint venture for 840 upscale houses on 272 acres

Toll Brothers Inc. and Lennar Corp. have entered into a blockbuster deal to build more than 800 homes at a future phase of development at Great Park Neighborhoods in Irvine.

Cuts Start at Top In Aftermath Of Broadcom Sale

TECHNOLOGY: Chipmaker’s top executives yield to Avago vets

Chief Executive Hock Tan cleared out nearly the entire management team at Broadcom Corp. following last week’s close of Avago Technologies Ltd.’s $37 billion buy of the Irvine-based chipmaker.

New Generation in OC Seeks Own Bite of Apple

TECHNOLOGY: New products in position to ride brand’s wave

Broadcom Corp. rode the Apple wave for years, growing fast on sales of connectivity chips that powered Wi-Fi, GPS and Bluetooth applications for the iPhone and other devices.

People Mover

JWA Director’s Busy Year: Renovation, Port of Entry Status

Barry Rondinella says he has a simple job.

Q&A

The Business Journal’s Deirdre Newman asked locally based attorneys about their offices’ plans to innovate and grow this year and what they expect in general this year, including any foreseen effects of the presidential election in November. Here are edited excerpts of their responses:

Manufacturer’s Recent Buy to Boost Sales by 50%

TECHNOLOGY: LoJack adds to satellite-heavy CalAmp’s line

CalAmp Corp.’s latest acquisition strengthens the company’s long-running diversification strategy crafted by Chief Executive Michael Burdiek.

Ambry Genetics Adds Test Lab in Aliso Viejo

Genetic testing provider Ambry Genetics Corp. will open a new, 65,000-square-foot laboratory across the street from its Aliso Viejo headquarters this month.

Drugmaker’s New CEO Sets No. 1 Drug Category Goal

HEALTHCARE: Aims to lead in central nervous system drugs

Aliso Viejo-based Avanir Pharmaceuticals Inc.’s newly appointed chief executive has what he calls a “very simplistic” vision for the drugmaker.

Deckers moves Sanuk to its Goleta HQ

Deckers Outdoor Corp. said it will move Irvine-based sandal maker Sanuk USA LLC to Deckers’ headquarters in Goleta to help “streamline brand operations and reduce infrastructure costs.”

Top Law Firms Flat on Attorney Count, Add Partners

List of 86 Offices Includes Nine Newcomers

Partner ranks at Orange County law firms grew more in the past year while the number of overall attorneys and firm employees were flat.

Georgia-Pacific to Close BP Plant

A 465,000-square-foot corrugated box-producing plant in Buena Park run by Atlanta-based Georgia-Pacific LLC will close by Sept. 1, the company said.

Fox Head to Shift Workers from NorCal

Fox Head Inc. in Irvine said it plans to close its offices in Morgan Hill in Santa Clara County in June and relocate its finance, IT and sales operations to the motocross apparel and accessories manufacturer’s headquarters in Irvine.

PE Firm Acquires Canadian Companies

Windjammer Capital Investors, a private investment firm in Newport Beach, added two Canadian companies to its portfolio. Terms weren’t disclosed.

Convenience, Security Drive Call for ‘Smart’ Homes

Buyers Now Want Practical Innovation in Retrofits

A recent survey by Coldwell Banker reveals that the growth curve of connected-home devices, such as smart thermostats, door locks, smoke detectors and light switches, is on track to beat that of smartphones and tablets over the next five years, expanding from 20.7 million units in 2014 to 35.9 million units by 2017.

Alphaeon Diversifies With Technology, Hires Execs

Buy of Digital Company Deepens Social Efforts

Irvine-based Alphaeon Corp. is continuing to grow its healthcare technology presence.

JetSuite Makes Long Pass in Super Bowl Empties Deal

Marks Anniversary With $50 Flights for Charters

Irvine-based JetSuite Inc., the fourth largest private jet charter company in the U.S. based on hours flown, marked Super Bowl 50 by offering $50 “Suite-Deals”—its empty flights on Feb. 6 and 7 were sold for $50. Clients pay $3,000 to $6,000 an hour on average for the charter, depending on jet size.

Netlist Partners With Samsung in $23M Memory Deal

Co-Developed Product To Be Unveiled This Year

Netlist Inc.’s new joint venture with the world’s largest electronics company paves a path to produce a new hybrid storage-class memory product geared for cloud computing, big data, and server and storage customers that could ultimately reshape the Irvine-based company’s story on Wall Street.

CT Realty’s Office Investment Plan Leads to Orange

Centrum South Follows Nearby $44M CHOC Deal

CT Realty Investors, one of Orange County’s biggest industrial investors and developers in recent years, has added another local office building to its portfolio.

VC Matchmaker’s Vow: No Startup Left Behind

East Meets West, Aims For Global Reach

Irvine-based VCNetwork, an online matchmaker that aims to connect startups and venture capitalists, has launched in Irvine.

Retail Market Closes Year on Good Note

The Orange County retail market ended 2015 with minor but notable improvements that are continuing to propel the region forward.

Real Estate Deals

A two-story office building in Orange was sold to S&S Law Corp. for $895,830, or $195 per square foot.

Calendar Feb

• 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

ADDENDUM

Two out of four Orange County-based automakers exceeded the national sales pace for new vehicles in January, according to New Jersey-based market researcher Autodata Corp. Hyundai Motor America in Fountain Valley sold 45,011 vehicles, up 1.1% over a year earlier and the best January in its history.

$50M Venture Fund Will Play to OC Strength

HEALTHCARE: Eye-related opportunities on the agenda

Aliso Viejo-based OCTANe announced that it’s raising a $50 million venture capital fund to invest in ophthalmology startups.

Aitken Defers; Medley Shows; Hartenstein Sticks

The Insider was ready to call Wylie Aitken true to our school when it came to his role in the recent selection of Matthew Parlow to succeed Tom Campbell as dean of the Fowler School of Law at Chapman U in Orange.

Friday, February 5

OC Weekly Sold

Duncan McIntosh Co. Inc. in Irvine has purchased OC Weekly from Denver-based Voice Media Group Inc. for an undisclosed sum.

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Midday Stock Roundup

Indices were down in midday trading on a tepid jobs report that sparked concerns of a Federal Reserve rate hike.

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Thursday, February 4

M-Flex Sold for $610M

One of China’s largest sheet metal suppliers is set to acquire Irvine-based printed circuit board maker Multi-Fineline Electronix Inc. for $610 million.

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Sanuk Revenue Falls 17%

Sanuk USA LLC’s revenue for the third quarter of its fiscal year 2016 decreased 17% to $17 million compared to $20.5 million in the same period last year, according to parent company Deckers Outdoor Corp. in Goleta.

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LinkedIn to Buy Costa Mesa Startup

LinkedIn plans to acquire Costa Mesa-based startup Connectifier on undisclosed terms.

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Taco Bell Q4 Profit Down in Up Year

Irvine-based Taco Bell Corp. fourth quarter operating profit fell 4.3% to $152 million, compared with the same period last year, while full-year operating profit increased 12% to $529 million.

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BP Cardboard Box Plant to Close

A 465,000-square foot corrugated box plant in Buena Park run by Atlanta-based Georgia-Pacific LLC will close by Sept. 1, the company said.

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More Fox Head Ops to Irvine HQ

Fox Head Inc. in Irvine said it plans to close its offices in Morgan Hill in June and relocate its finance, IT, and sales operations to the motocross apparel and accessories manufacturer’s headquarters in Irvine.

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Midday Stock Roundup

The S&P 500 was down 0.1% to 1,911.44.

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Wednesday, February 3

Tustin Case Maker Sold for $100M

Tustin-based smartphone battery case maker Mophie Inc. has been acquired for at least $100 million by rival Zagg Inc. in Utah.

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Kurion Sold for $350M

Irvine-based Kurion Inc., which played a key role in stabilizing the contaminated Fukushima Daiichi Nuclear Power Plant in Japan nearly four years ago, has been sold for $350 million to Paris-based nuclear cleanup specialist Veolia.

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Midday Stock Roundup

The S&P 500 was down 0.7% in midday trading to 1,888.98.

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Tuesday, February 2

Edwards Beats on Q4; Ups Guidance

Irvine-based Edwards Lifesciences Corp. beat analyst expectations on quarterly revenue and profit and boosted full-year expectations in a report issued after markets closed Tuesday.

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Boot Barn Beats; Shares Up

Shares of Boot Barn Holdings Inc. were up 29% in recent trading to a market cap of $188 million on the strength of its quarterly report issued yesterday.

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OC-Based Carmakers’ January Mixed

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

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$125 Million for Banc of California

Irvine-based Banc of California is raising $125 million, for general corporate purposes, by issuing 5 million depositary shares or a total of 125,000 shares of its preferred stock.

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Midday Stock Roundup

Indices were down in midday trading on fresh declines in oil prices.

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OC, Anaheim Visitor Tally Up

Visitor counts rose countywide and in Anaheim in 2015.

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All-Time High for JWA 2015

John Wayne Airport served more than 888,000 passengers in December, tipping its passenger count for all of 2015 total passengers to an all-time high.

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Monday, February 1

Freedom Auction Set

The U.S. Bankruptcy Court Central District of California gave Freedom Communications Inc. the green light Monday to auction its assets on March 16.

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PIMCO Names Head of Europe Offices

Craig Dawson will replace Bill Benz in June as the global investment firm’s head of Europe, Middle East and Africa.

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Sanuk to Exit Irvine HQ

Deckers Outdoor Corp. said it will move Irvine-based sandal maker Sanuk USA LLC to its headquarters in Goleta to help “streamline brand operations and reduce infrastructure costs.”

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Pac Merc Earned $12.1M in Q4

Costa Mesa-based Pacific Mercantile Bancorp reported profits of $12.1 million, or $0.53 per share in its most recent quarter, up from $287,000 in the same period last year.

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OC Bank Buy Closes

Irvine-based Orange County Business Bank merged with Seattle-based HomeStreet Inc. on Feb. 1.

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 1934.47.

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Broadcom Acquisition Closes

Broadcom Corp.’s $37 billion sale to Avago Technologies Inc. in Singapore closed today, ending the Irvine chipmaker’s 20-year history as a locally based company.

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Nordstrom Rack Coming to Center

Irvine Company said it plans to add a Nordstrom Rack store to its 120-tenant lineup at The Market Place shopping center in Tustin and Irvine.

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Windjammer Buys in Canada

Windjammer Capital Investors added two Canadian companies to its portfolio.

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Kia’s Road to Driverless Car Runs Through Irvine

TECHNOLOGY: Strategy hinges on voice of North American HQ

A 12-man team at the Irvine headquarters of Kia Motors America Inc. is a key part of a global engineering and development effort to bring an autonomous vehicle to the market by 2030.

Creative-Office Trend to Great Park

REAL ESTATE: Anchors FivePoint’s revised plan for 73-acre site

The developer of Great Park Neighborhoods in Irvine has earmarked a 73-acre portion of the former El Toro Marine Base for a commercial project featuring creative-office buildings, among others.

West OC Industrial Market Strengthens in Q4

The West Orange County industrial submarket experienced historically low vacancy rates last year, though it was no surprise that we continued to experience positive net absorption—this time at 234,204 square feet—a great indication of the strength in demand.

Banks’ Local Deposits Make Biggest Jump in Years

Numbers for 43 Biggest Up About 16%, Ranks Shift

Orange County banks and thrifts increased local deposits 15.8% for a total of $96.9 billion in the year ended June 30.

Buchanan Street Sees Opportunity in Diamond Bar

Gateway Center Follows Deals in Dallas, Scottsdale

Newport Beach-based Buchanan Street Partners has made its largest reported local purchase in more than a year for an office complex a few miles outside Orange County in Diamond Bar.

Real Estate Deals

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

An industrial building in Anaheim was sold to Econotek Inc. for about $1.3 million, or $227 per square foot.

Emerald Expositions Adds NY Trade Show to Roster

New Brand Licensing Event Set for September

Emerald Expositions LLC in San Juan Capistrano plans to launch a new trade show, Brand Licensing Select, scheduled for Sept. 27 to 29 in New York.

OC Companies Show Off New Wares at NAMM Show

Take Advantage of 96K To Expand Penetration

The fusion of music and technology was heard loud and clear at the recently concluded National Association of Music Merchants trade show.

Allergan Drug Patent Dispute Resolved With Dismissal

Drugmaker, Hedge Fund Sign Stipulation Order

A patent fight between a hedge fund and Allergan PLC, whose eye and cosmetic medicine hub is in Irvine, has ended after nearly a year.

OCBJ Calendar

Feb.1-10, 2016

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 5

Huntington Beach-based Quiksilver Inc. selected a new board of directors to take over after bankruptcy proceedings end, according to documents filed with the U.S. Bankruptcy Court for the District of Delaware.

Supper Club Gets Love From Culinary Friend and Fifi

Brasserie Just Ahead Of Admirer’s ‘Farmhouse’

It’s refreshing to see restaurateurs help advertise each other’s new venues. In this case, Rich Mead, highly regarded for his former Sage restaurants, sent out positive commentary on Jack Jasper and his Campus Jax restaurant—full name Campus Jax, a mindful kitchen, brasserie & Supper Club.

PHILANTHROPY

The Anaheim Ducks hosted the 16th annual Dux in Tux presented by Honda on Jan. 18 at the Hilton Anaheim.

Protected From Recession

Aviation Capital CFO’s ‘Unsecured’ Philosophy Changes Aircraft Leasing Firm

Madhu Vijay is a soft-spoken giant in the global aircraft leasing industry.

MBK’s Multifaceted Approach

Addition of Apartments, Senior Housing Helped Homebuilder Get Back on Track

Kent Crandall joined MBK Real Estate LLC in 2006, when the Irvine-based company was largely focused on building for-sale homes.

Dream Job Born of Family Loss

Professional Know-How, Personal Experience Benefit Big Brothers, Big Sisters

Laurie Peterson’s facility with numbers and working with people inspired her to go into accounting.

Pacifica Buys Downtown LA Hotel

Irvine-based Pacifica Hotels bought the Milner Hotel in downtown Los Angeles from Milner Hotels Inc. Pacifica is the hospitality arm of Santa Barbara real estate developer Invest West Financial Corp.

Opus Buys San Franciso Trust Company

Irvine-based Opus Bank will buy San Francisco-based PENSCO Trust Co., which has about $11 billion in retirement and alternative investment assets, in a cash-and-equity deal.

Software Maker Takes in $10 Million

Irvine-based security software maker SecureAuth Corp. raised another $10 million and expanded operations to the Beltway.

Real Estate Fund to Buy Montage Stake

Montage Hotels & Resorts LLC in Irvine said a real estate fund affiliated with Ares Management LP in Los Angeles will buy up to 20% of the company and “provide up to $200 million in future growth capital” to acquire and develop properties.

Mentor, Mom Rises at Ingram Micro

‘Focus on Great Talent Will Accelerate the Role of Women’

Gina Mastantuono has overcome more than a few challenges that pervade the male-dominated technology and finance industries in rising to a leadership position at the world’s largest distribution company.

Brighton Adds Crowne Plaza

REAL ESTATE: Same developer with eyes on Upper Newport Bay

The 224-room Crowne Plaza Costa Mesa Orange County has traded hands a few years after being converted from a boutique property.

Medical Device Component Maker Set to Exit OC

MANUFACTURING: Irvine, Anaheim operations to close

Balda C. Brewer Inc. USA, a maker of plastic molds used in medical devices and other products, is closing a plant in Irvine this month and cutting 193 jobs.

Panattoni’s Local Boss Departs for Own Venture

REAL ESTATE: Follows strong run with industrial developer

The head of Panattoni Development Co.’s investment and development activities in Orange County and the Inland Empire has left the Newport Beach-based real estate company to start his own venture.

Q&A

Reporter Michael de los Reyes asked a sampling of Orange County bank executives, presidents, managers and others in the banking and credit union industry what they’re expecting in terms of further interest rate increases by the Federal Reserve and how their institutions are preparing for that possibility. Edited excerpts of their responses follow.

New Scene for Startups

Longtime Home of Innovation, Entrepreneurial Grit Builds ‘Ecosystem’

The Fender guitar. Vizio TVs. Vans shoes.

Road More Traveled

Taco Bell Exec Credits Early Itinerary as Effective Prep

Liz Williams doesn’t sit still, even when she stays in the same place for a while.

Year of Reckoning for Costa Mesa Developers

General Plan, Slow-Growth Measures Headline Agenda

2016 is shaping up to be a year of heavy suspense for a nearly 3-mile swath in Costa Mesa just north of the San Diego (I-405) Freeway in terms of potential residential and commercial development.