Stories for March 2016

Thursday, March 31

FantasyAces Delays College Exit

Orange County’s lone daily fantasy sports operator doesn’t plan to follow the segment’s leaders in immediately closing contests involving college sports.

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Double Digit Growth at JWA

John Wayne Airport passenger traffic in February grew 12% to 793,553 compared with the same month last year, after January’s passenger traffic grew 10% year-over-year.

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OC-Based Bank Joins S&P Index

Irvine-based Banc of California has been added to the S&P SmallCap 600 Index.

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Southwest to Fly Long Beach to Oakland

Southwest Airlines will fly from from Long Beach Airport to Oakland International Airport starting June 5.

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Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,063.95

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New Owner Cuts Execs at Register

Digital First Media, the new owner of the Orange County Register, has parted ways with several members of prior owner Freedom Communications Inc.’s senior management team, according to sources close to the matter.

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Wednesday, March 30

UCI to Start E-Sports Program

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.

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Japan Regulators Clear Glaukos Stent

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

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Mazzo Asks Judge for Stay in Case

Longtime Orange County medical device executive James V. Mazzo has asked a judge for a stay in his federal insider trading case, according to court papers.

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eBay Buys Irvine Auto Marketer

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

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Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,061.36.

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Microsemi Sells Business Lines for $300M

Aliso Viejo-based Microsemi Corp. agreed to sell its embedded security, RF, microwave and custom microelectronics businesses for $300 million to Mercury Systems Inc., shedding about 275 employees in Camarillo; San Jose; Phoenix, Ariz.; and West Lafayette, Ind.

Hilton Anaheim to Save $800K a Year in Energy Costs

HOSPITALITY: 3-year project touches A/C, food waste, rooms

Hilton Anaheim has spent $3.5 million in about 18 months to upgrade utilities and cut costs, in work and planning that have touched air conditioning, food waste, and room thermostats.

Real Estate Deals

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

Lighthouse Financial Services signed a lease at 3070 Saturn St. in Brea.

Tuesday, March 29

Broadcom Sues SpaceX

Broadcom Ltd. said in a lawsuit that Space Exploration Technologies Corporation—SpaceX—recruited engineers away from the chip maker after soliciting Broadcom's services and then declining to work with them.

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St. Regis to Drop Flag June 1

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

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China Investor Wraps up Alliance Deal

Newport Beach-based Alliance HealthCare Services Inc. said today that Fujian Thai Hot Investment Co. completed its purchase of a majority stake in the medical imaging company.

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Lotus Innovations Hires CFO

Irvine-based private equity firm Lotus Innovations has hired Ommid Bavarian as chief financial officer.

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Midday Stock Roundup

The S&P 500 was up 0.5% in midday trading to 2,046.42

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Irvine Retailer Names New CFO

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

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Monday, March 28

UCI Gets $8M to Create Vaccine

A University of California-Irvine scientific team has received $8 million from the U.S. Department of Defense to help develop a vaccine for Q fever, a highly infectious agent common among livestock.

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Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,042.32.

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Irvine Ad Tech Firm to Culver City

Adaptive Medias Inc. in Irvine said it plans to combine with AdSupply Inc. and move its headquarters to Culver City.

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Healthcare Vet Brings Once-Shelved Device to Market

HEALTHCARE: Incontinence prevention product sold online

Longtime OC medical device executive Thomas Berryman is back in business with a new company and device to battle female stress urinary incontinence.

Purchasing Platform Startup Wins ‘Most Fundable’

Aims to Boost Small Medical Device Makers

A Newport Beach-based startup won the “Most Fundable” award at Tech Coast Angels’ Celebration of Entrepreneurship on March 10.

San Clemente’s Largest Office Sells to LA Investor

$14.2M Sales Price Is Discount on 2007 Trade

The largest office building in San Clemente has been sold to a Los Angeles-based value-add investor.

Q4 Mixed for South OC Industrial Sectors

The South Orange County industrial market saw 39,262 square feet of negative net absorption in the fourth quarter, though the year-to-date total remained positive at 314,049 square feet.

Western Digital Makes Post-SanDisk Purchase Plans

International Restructure, Integration on Horizon

Western Digital Corp. plans to restructure its international operation “shortly after” closing its highly leveraged $17 billion acquisition of SanDisk Corp. in Milpitas.

Vans Gets Artistic With 50th Anniversary Campaign

Features French Drawings, LA-Produced Soundtrack

Cypress-based action sports footwear and apparel brand Vans Inc. launched The Story of Vans, a marketing campaign that combines “a mix of artistic methods to highlight iconic moments from the brand’s 50-year history.” It includes five short videos—one depicting “the journey of the Vans brand” and four others that “emphasize Vans’ core forms of creative expression.” 

Insurance Unit Signs Deal With Drug Store Chain

Members Can Get Rx At Walgreens or By Mail

A unit of Minnesota health insurance giant UnitedHealth Group Inc. with an office in Irvine has struck a long-anticipated “preferred partnership” with a major drugstore chain.

OCBJ Calendar

March 28-April 7, 2016

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No.13

Santa Ana College President Erlinda Martinez announced plans to retire at the end of June after 11 years at the helm. The Rancho Santiago Community College District has launched a nationwide search to fill the position.

PHILANTHROPY

Music and wine proved to be a perfect pairing at the ninth Pacific Coast Wine Festival benefitting Pacific Symphony.

Hospital Operator Cuts Nearly 200 Jobs

Fountain Valley-based MemorialCare Health System will cut 194 jobs as part of its planned closure of the San Clemente location of its Saddleback Memorial Medical Center, according to a state filing.

SWELL Head Named Parent’s Co-CEO

Australia-based online retailer SurfStitch Group Ltd. named Lex Pedersen and Justin Stone co-chief executives.

Exec Changes at William Lyon Homes

Newport Beach-based homebuilder William Lyon Homes made a series of executive management changes, including a new role for the company’s namesake and founder, Gen. William Lyon, and a new stand-alone chief executive.

Liquidmetal in Line For $63M Injection

MANUFACTURING: 40% stake would go to investor

Rancho Santa Margarita-based Liquidmetal Technologies Inc. said it expects Chinese businessman Yeung Tak Lugee Li to invest up to $63.4 million to take a controlling interest in the producer of alloys used in medical devices and consumer electronics.

Apparel Co. TravisMathew to Quiksilver’s Old HQ

REAL ESTATE: Expands into Surf City creative-office space

Apparel maker TravisMathew LLC is moving its headquarters to a larger facility in Huntington Beach that previously served as the home of Quiksilver Inc.

Praise for Allergan Ongoing; El-Erian’s OCSA Lunch Tab

Belated validation has been pouring in lately for the job that the leadership of erstwhile Allergan Inc. did in fending off the raiding team of hedge funder Bill Ackman and Valeant Pharmaceuticals.

Register Reports To LA in Wake of Sale

MEDIA: Now one of 11 dailies in Digital First’s SoCal regional group

The bankruptcy sale of Freedom Communications Inc. to Digital First Media indicates The Orange County Register will be overseen by executives in Los Angeles with responsibility for a regional publishing operation with 11 daily newspapers stretching from the San Fernando Valley to the Inland Empire.

CT Realty Gets 25 Acres in Aliso Viejo

REAL ESTATE: Estimated $33.6M price; 500,000-SF, medical emphasis

The U.S. Postal Service has completed the sale of one of the last big parcels of developable commercial land in Aliso Viejo, which is now slated for a mixed-use property emphasizing medical uses that will total more than 500,000 square feet.

NextVR Seeks to Add Role of Content Guide

TECHNOLOGY: Fox deal, headset rollouts may spur adoption

NextVR Inc. is developing the TV Guide of virtual reality content as the sizzling nascent segment draws more viewers with the launch of several headset systems.

Eureka’s Moment?

Startups Seek Cumulative Edge at 3-Acre Campus in Irvine

Entrepreneur Jennifer Bell left a “very toxic relationship” in the middle of a December night in 2014, she said.

UCI to Community of Business: Hello, Partner!

University of California-Irvine will make a concerted effort to increase collaboration with the local business community as part of its new 10-year strategic plan.

Friday, March 25

Midday Stock Roundup

Markets are closed today for the Good Friday holiday.

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Thursday, March 24

Corinthian Ordered to Pay $1.1 Billion

Bankrupt Corinthian Colleges Inc., based in Santa Ana, was ordered to pay $820 million in restitution to its former students, plus civil penalties of more than $350 million, in a judgment handed down Wednesday.

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Microsemi Sells Secondary Lines

Aliso Viejo-based Microsemi Corp. has agreed to sell its embedded security, RF, microwave and custom microelectronics businesses for $300 million to Mercury Systems Inc.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,028.55.

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Wednesday, March 23

MemorialCare to Cut 194 Jobs in SC

Fountain Valley-based MemorialCare Health System will be cutting 194 jobs as part of its planned closure of the San Clemente location of its Saddleback Memorial Medical Center, according to a state filing.

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Quantum Fuel in Chapter 11 BK

Lake Forest-based Quantum Fuel Systems Technologies Worldwide Inc. has filed for Chapter 11 bankruptcy protection.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,041.96.

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SWELL President Named Parent’s Co-CEO

Australia-based online retailer SurfStitch Group Ltd. named Lex Pedersen and Justin Stone co-chief executives.

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Tuesday, March 22

I-5 Publishing Changes Name

Irvine-based I-5 Publishing is changing its name to Lumina Media.

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SA College President to Retire

Santa Ana College President Erlinda Martinez has announced plans to retire at the end of June after 11 years at the helm.

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PennySaver is Back

The PennySaver advertising publication is back less than a year after it closed last May.

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,054.70.

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Seychelle Replaces CEO

San Juan Capistrano-based Seychelle Water Filtration Products has replaced Chief Executive Carl Palmer with Chief Financial Officer James Place, effective immediately.

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William Lyon Homes Makes Management Changes

William Lyon Homes has announced a series of executive management changes to the Newport Beach-based homebuilder, including a new role for the company’s namesake and founder, General William Lyon, as well as a new stand-alone chief executive.

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Monday, March 21

Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,050.88.

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Freedom to Go to Digital First

A bankruptcy judge in Santa Ana this morning approved the sale of Freedom Communications Inc. and its Orange County Register to Denver-based Digital First Media Inc.

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Much More Than a Spaghetti Dinner

Anaheim White House’s Serato Gives as Restaurant Shines

Bruno Serato, owner of the Anaheim White House Restaurant, may be better known nationally and internationally for his charity work than his success as a business owner.

Environmental Consultants Feel Effect of Energy Slump

Slight Declines Seen In Jobs, Billings Flat

Orange County’s largest environmental consultants faced a tough landscape last year, with no big increase in government spending—a staple of the segment—and aftershocks from the difficulties in the energy sector.

Intelligent Reinvention

Husband-and-Wife Team Lead $40 Million Juice & Food Chain

Seeing Steve and Alexis Schulze at the podium at a Business Journal event is like NFL great Jim Brown arriving in the end zone—seems like they’ve been there before.

Senate Committee Passes Pack of Device Reform Bills

Designed to Speed FDA OK for Certain Treatments

A cause dear to the hearts of medical device makers in Orange County and elsewhere—regulatory reform—is moving along in the U.S. Senate.

Agency Ups Role in Client Work With Startup Stakes

Gets Equity Share In Exchange for Services

Irvine-based agency INK is taking an active role in its startup clients. It launched an “equity based model for agency-client relationships” that enables it to acquire a stake in promising enterprises.

New Ingram Micro Owner to Invest in Distributor

Chinese Boss to ‘Acquire’ More Business, Up Hires

Don’t expect Irvine-based Ingram Micro Inc. to cut costs under new Chinese owner Tianjin Tianhai Investment Co. Ltd.

Real Estate Deals

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

The E-Land Co. sold a creative-office building in Irvine to the Parviz Ramezani Trust for $1.9 million, or about $375 per square foot.

Greater Airport Market Has Healthy Q4

The Greater Airport Area submarket performed well overall in the fourth quarter, and market fundamentals were strong.

Church Site in Orange Sold for Luxe Home Project

New Home Co. Uses Land Banker for Marywood Buy

The Roman Catholic Diocese of Orange has completed the sale of its former administrative headquarters in Orange, which is slated to be turned into a residential development by Aliso Viejo-based New Home Co.

App Beats Pitch Competitors to Take Home $20,000

Tech Coast Angels of Orange County held its inaugural Celebration of Entrepreneurship on March 10, when San Juan Capistrano-based Globe Chat took the overall prize in the Fast Pitch competition.

OCBJ Calendar

March 21-30, 2016

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No.12

Costa Mesa-based Volcom Inc. sold Electric Visuals in San Clemente to the eyewear subsidiary’s chief executive, Eric Crane, for an undisclosed amount.

OC Still Coveted as Overseas Buyers Hit Pause Elsewhere

Expert Says Chinese Pullback Not Seen Here

Foreign investment in U.S. real estate is hitting the pause button, according to a report by the National Association of Realtors, and the pullback is most evident among Chinese buyers affected by China’s slowing economic growth, currency devaluation and tightened restrictions on capital outflows. Other reasons the report cites include a stronger U.S. dollar and rising home prices.

Wylie and George Walk Into a Bar…; Re: Leader Board

Call it a St. Patrick’s Day miracle—or maybe just a simple, human reminder that it’s possible for folks to line up as political opponents rather than enemies, a distinction that can keep friendships alive, come what may.

Greenlaw Plans Rentals, Hotel Near Outlets Mall

REAL ESTATE: For-sale project in IBC also on developer’s agenda

Real estate investor and developer Greenlaw Partners is pushing ahead with plans to build more than 900 apartments and for-sale homes and a hotel in separate projects on land it owns in Orange and Irvine.

Experian Offers New Experience

Seeks to Change Reputation From Credit Judge to Consumer Ally

No one wants to be seen as the bearer of bad news, even if it’s part of their job description. Experian plc, one of three major credit reporting agencies, is no exception.

He Felt Your Pain

Proove Helps Docs Manage Patients’ Discomfort

Brian Meshkin sought a way to help doctors make better decisions in the specialty of pain management, acting on the desire in 2009 when he created Irvine-based Proove Biosciences Inc.

Comcast to Put $40M Into Supplier in Santa Ana

TECHNOLOGY: Cable outfit aims for Internet of Things

The largest U.S. cable TV provider plans to invest nearly $40 million in Santa Ana-based remote control maker Universal Electronics Inc. over the next six years.

LBA Sheds More Light on 9-Acre Mixed-Use Project

REAL ESTATE: 423,000 SF of space across from Park Place

LBA Realty Inc. has disclosed more details, plus early-stage renderings, of the mixed-use campus it’s targeting for a 9.4-acre site at the intersection of Jamboree Road and Michelson Drive in Irvine.

Volt Campus in Orange to Hines JV for $36 Million

REAL ESTATE: 15-year leaseback planned for office

The Irvine office of real estate developer and investor Hines Interests LP has made its first purchase in the city of Orange, picking up the office campus of Volt Information Sciences Inc.

Two OC Components Makers Join Forces

San Clemente-based rubber products maker IRP Group Holdings recently agreed to combine with Garden Grove-based ProPlas Technologies on undisclosed terms.

PIMCO Names Overseer, Eyes Cost Cuts

Newport Beach-Based Pacific Investment Management Co. will have a new “overseer” on July 1, when Jacqueline “Jackie” Hunt assumes responsibility for the U.S. asset management and life insurance businesses for PIMCO parent company Allianz, a Munich, Germany-based insurer.

UC-Irvine MBA Program Up in Ranking

The University of California-Irvine Paul Merage School of Business full-time MBA program rose five spots in the U.S. News & World Report Best Graduate Schools rankings, tying with Southern Methodist University’s Cox School of Business in Dallas at No. 48.

Device Maker Focal Raises $3.8 Million

Aliso Viejo-based Focal Therapeutics Inc. raised about $3.8 million in venture capital, according to a Securities and Exchange Commission filing.

Taco Bell to Open First China Location

Taco Bell Corp. is planning to open its first location in China by the end of the year, executives of the Irvine-based chain said during a Bank of America Merrill Lynch consumer and retail conference in New York.

More Than One Way to Pull a Hill

Pedego Co-Founder Saw His Spot in Electric Bikes

A taxing task led to a global business for Don DiCostanzo. Tired of peddling his bike uphill on Superior Avenue in Newport Beach for volunteer work and recreation, he knew there had to be an easier way. His solution? An electric bike.

True Believer

Personal Philosophy Produces Impressive Track Record

It’s hard to believe that Twila True, co-founder of Newport Beach-based True Family Enterprises, was ever intimidated by Orange County.

Friday, March 18

OC Adds Jobs, Unemployment Rate Unchanged at 4%

Orange County added 12,800 jobs in February to maintain a 4% unemployment rate, even with the recently revised rate for the month prior.

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Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,046.02.

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Volcom Sheds Eyewear Subsidiary

Costa Mesa-based Volcom Inc. has sold Electric Visuals in San Clemente to the eyewear subsidiary’s chief executive, Eric Crane.

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Corporate Dining Entrepreneur Dies

Don Phelps, who founded Buena Park-based Food Systems Inc. in 1972, died March 3 at age 84. A memorial service is planned in Newport Beach on April 2.

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Thursday, March 17

Another Jump for UCI Law School

University of California-Irvine School of Law moved up two places to No. 28 on the U.S. News & World Report’s annual ranking of the nation’s graduate school programs for law schools, released earlier this week.

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Edwards Adds Director

Irvine-based Edwards Lifesciences Corp. appointed Steven Loranger to its board of directors.

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Ingram Micro Buys Telecom

Irvine-based Ingram Micro Inc. bought NetXUSA in Greenville, S.C., on undisclosed terms.

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Midday Stock Roundup

The S&P 500 was up 0.8% in midday trading to 2,042.34.

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Tribune Top Bidder for Register

Tribune Publishing Co.’s $56 million offer was selected as the winning bid during Wednesday’s bankruptcy auction of Santa Ana-based Freedom Communications Inc. held at the office of Lobel Weiland Golden Friedman LLP in Costa Mesa.

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UCI’s Merage School in Top 50

The University of California-Irvine Paul Merage School of Business full-time MBA program rose five spots in the 2017 U.S. News & World Report Best Graduate Schools rankings released today.

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Wednesday, March 16

County RFQ Out on DP Harbor

The County of Orange today released a request for qualifications for the redevelopment of Dana Point Harbor.

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UCI’s Merage School in Top 50

The University of California-Irvine Paul Merage School of Business full-time MBA program rose five spots in the 2017 U.S. News & World Report Best Graduate Schools rankings released today.

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Tilly’s Forecasts Q1 Loss

Shares in Irvine-based Tilly’s Inc. dropped about 15% to a market cap of $193 million after the action-sports apparel retailer said it would lose $2 million to $4 million in its current quarter, the first of the company's fiscal year 2016.

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Taco Bell to Open First Store in China

Irvine-based Taco Bell Corp. is planning to open its first store in Shanghai, China by the end of the year.

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Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,023.95.

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Aliso Viejo Device Maker Gets $3.8M

Aliso Viejo-based Focal Therapeutics Inc. has raised about $3.8 million in venture capital, according to a Securities and Exchange Commission filing.

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Tuesday, March 15

Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,011.91.

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Monday, March 14

OC Resorts Have New China-Based Owner

Two luxury hotels in Orange County – the Montage Laguna Beach in Laguna Beach and the Ritz-Carlton Laguna Niguel in Dana Point—have a new China-based owner.

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Stalking Horse Bid Set for Freedom Auction

Digital First Media’s $45.5 million offer has been selected as the stalking horse, or starting, bid for Wednesday’s bankruptcy auction of Freedom Communications Inc. in Santa Ana.

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PIMCO to Get Allianz Overseer

Newport Beach-Based Pacific Investment Management Co. will have a new “overseer” on July 1.

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Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,019.95.

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Industrial Innovation in Tustin

AutoCrib Blends Manufacturing Know-How, Proprietary Software

A Tustin-based manufacturer of industrial vending machines is expanding into new markets as it responds to demand with fresh innovations.

Title Insurance Work Picked Up Steam Last Year

43% Increase on Gains In Home, Commercial Work

Orange County’s largest title insurers’ business picked up last year, and they’re preparing for another active year in transaction volume and potential industry consolidation.

OCBJ Calendar

March 14-23, 2016

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No.11

Mission Hospital named Tarek Salaway its new chief operating officer.

PHILANTHROPY

. Paul Musco, founder of Gemini Industries, was honored at the second annual “Let’s Be Frank About Cancer” gala on Feb. 20.

Wanted: Best Places to Work for OCBJ’s Listing

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

Is your workplace great?

Nutrition Products Maker Moves to OC

Nellson Nutraceutical LLC, a maker of nutrition bars and powders, relocated its headquarters from Irwindale to Anaheim.

Vehicle Maker Bought By Minn. Firm

Minneapolis-based Polaris Industries Inc. acquired Taylor-Dunn Manufacturing Co. in Anaheim on undisclosed terms.

Boeing Unveils Subaquatic Vehicle in HB

Boeing Co. introduced its latest unmanned underwater vehicle at its Huntington Beach facilities.

Business Journal Honors Entrepreneurs

A number of Orange County’s top entrepreneurs were honored at the 15th annual Business Journal Entrepreneurs of the Year awards lunch March 10 before a crowd of about 350 at Hotel Irvine.

Life Sciences Logistics Specialist Grows Into New Irvine HQ

HEALTHCARE: Cyroport more than doubles space, eyes 2nd shift

Cryoport Inc.’s recent move to Irvine from Lake Forest is “coming together very nicely” on the heels of a growth spurt, according to its chief executive.

Destination Marketer Zooms in on China

TOURISM: New effort comes after test run last year

The Orange County Visitors Association plans to expand a 2015 marketing effort with Ctrip, the largest online travel agency in China, in a year of Web- and mobile efforts to pull travelers from that country to hotels, shopping, entertainment and other venues here.

Hotelier Goes Indie With Property Started By Father

HOSPITALITY: Harbor Blvd. location opens after $14M redo

A former Ramada Inn across Harbor Boulevard from Disneyland Resort is scheduled to debut next month as an independent hotel after a five-year, $14 million renovation with a new name and rooftop views of nightly fireworks shows.

Disney Proposes Parking, Transport Adds at Resort

AMUSEMENT: Upgrades anticipate Star Wars Land

Walt Disney Co. is planning major upgrades to its parking and transportation facilities at Disneyland Resort in Anaheim in preparation for the opening of its soon-to-start Star Wars Land expansion project.

Kudos, Questions for First American; Why Jabara is Thankful

Kudos to title insurer First American Financial Corp., the lone OC-based representative on Fortune’s recent national list of “100 Best Companies to Work For.”

OC’s Top Deals Double in 2015 to Cumulative $3.6B

Creative-Office Trend Up, Distressed Deals Down

Local investors turned their attention to large fixer-upper properties across Orange County last year as insurance companies looking to invest here largely placed their money in more stabilized assets in a banner year of dealmaking.

520 Newport Center Gets Topper With Tarsadia Lease

REAL ESTATE: Buzz over deal hums around $8.50 PSF mark

A Newport Beach-based investment firm with ties to the area’s hospitality industry has signed a deal to lease the top floor of Irvine Company’s 520 Newport Center Drive office tower in what looks to be Orange County’s priciest-ever office lease.

Western Digital Looks To Lock Up SanDisk

TECHNOLOGY: OK of $17B buy expected after feds quash China deal

Western Digital Corp.’s blockbuster takeover of SanDisk Corp. has been marked by one big turn after another, reminiscent of the turbulent industry the two companies lead.

Kawasaki Thinks Small

Hopes New Model Stirs Market That’s Remained in Idle Amid Auto Recovery

Kawasaki Motors Corp. U.S.A. is betting on a new, much smaller motorcycle to help spur sales of its larger models in a market that’s relatively flatlining.

New Boss, Direction at St. John Knits

Veteran Exec Emphasizes ‘Modern, Relevant’ Design

Bruce Fetter took over the reins at St. John Knits International Inc. with a new challenge for the American luxury house: connecting with the modern woman on the rise.

Steve Harvey Hatches Partnership on Branded Eggs

Comedian Partners With San Juan Startup

Comedian Steve Harvey recently announced that he and business partner Greg Calhoun have teamed up with San Juan Capistrano-based TEN Ag Tech to launch a line of food products under the brand name Just Ordinary.

Masimo’s New Irvine Space Leads to Musical Chairs

Boot Barn HQ, Printronix Office Also Part of Move

An expansion of Masimo Corp.’s local facilities appears to have set off a chain reaction of corporate relocations in the Irvine Spectrum area involving Boot Barn Holdings Inc. and Printronix Inc.

Real Estate Real

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

Hamilton Center, a multitenant shopping center in Huntington Beach, was sold for $3.3 million, or about $485.29 per square foot.

Central, North OC Office Market Activity Starts to Catch Up

The Central and North Orange County office submarkets have traditionally trailed the Greater Airport Area and South Orange County office submarkets in terms of vacancy, average asking lease rates, and absorption of space, and last year was no different.

Ubiquity Says New Licensing Deal a ‘Turning Point’

Software Agreement Could Help Reverse 2-Year Slide

Irvine-based Ubiquity Inc. has signed its first major licensing agreement to integrate its operating system software after years of development and patent approvals.

PacSun Tries Out App Game Product Placements

Players Pick Characters’ Favorite Spring Duds

BRAVEN LC, a subsidiary of Incipio Technologies Inc. in Irvine, signed on as the official sponsor of the Australian Open of Surfing.

Regulators Grant New Edwards Sapien XT Clearance

Can Now Be Used For A Different Procedure

Irvine-based Edwards Lifesciences Corp.’s Sapien XT replacement transcatheter heart valve gained another approval this month.

Friday, March 11

Freedom Auction Gets Stalking Horse

Digital First Media’s $45.5 million offer has been selected as the stalking horse, or starting, bid for Wednesday’s bankruptcy auction of Freedom Communications Inc. in Santa Ana.

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PIMCO to Get Allianz Overseer

Newport Beach-Based Pacific Investment Management Co. will have a new “overseer” on July 1.

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Midday Stock Roundup

The S&P 500 was up 1.4% in midday trading to 2,017,76.

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Thursday, March 10

Business Journal Honors Entrepreneurs

A number of Orange County’s top entrepreneurs were honored on March 10 at the 15th annual Business Journal Entrepreneurs of the Year awards lunch, which drew a crowd of about 340 to Hotel Irvine.

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Moe’s Plans 13 OC Sites

Moe’s Southwest Grill said a franchisee will open 13 restaurants in Orange County over the next several years.

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Boeing Unveils Echo Voyager

Boeing Co. introduced its latest unmanned, underwater vehicle this morning at its Huntington Beach facilities that holds vast applications in sea exploration, surveillance and analysis.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 1,982.10.

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Nutrition Company HQ to Anaheim

Nellson Nutraceutical LLC, a maker of nutrition bars and powders, has relocated its headquarters from Irwindale to Anaheim.

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Alorica Cuts 160 Jobs in New Mexico

Irvine-based Alorica, a call center provider, will cut 160 jobs in Albuquerque, N.M., less than a year after the company opened an office there.

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Wednesday, March 9

JWA January Traffic up 10%

John Wayne Airport had 812,000 passengers in January, 10% more than the same month last year.

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Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 1,986.78.

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Cottage Cheese Maker Gets $2M

Irvine-based Good Culture LLC got $2.1 million in seed funding led by Cavu Venture Partners in New York City with participation from 301 Inc. in Minneapolis.

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Carl’s Jr. Parent to Nashville

CKE Restaurants Inc.— based in Carpinteria, Calif., near Santa Barbara, but with a sizable presence in Anaheim, where it has its roots—is moving its headquarters to Nashville.

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Tuesday, March 8

Mission Hospital Names New COO

Mission Hospital said today that Tarek Salaway is its new chief operating officer.

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Taylor-Dunn Acquired

Minneapolis-based Polaris Industries Inc. acquired Taylor-Dunn Manufacturing Co. in Anaheim on undisclosed terms.

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Chapman to Offer Ph.D. in Pharmaceutical Science

Chapman University’s School of Pharmacy has received Western Association of Schools and Colleges approval to offer Ph.D. degrees in Pharmaceutical Sciences.

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Midday Stock Roundup

The S&P 500 was down 0.5% in midday trading to 1,991.43.

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Gymnastics Competition, Trade Show to Honda Center

The Honda Center in Anaheim will host the 2017 P&G Gymnastics Championships and a meeting and trade show related to the event.

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Orange Outlets to Grow

The Outlets at Orange said it will begin construction on 60,000 square feet of retail space this month.

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Monday, March 7

Chapman Tops in Fulbright Scholars

Chapman University has been named one of the top producers of Fulbright scholars for the 2015-2016 academic year.

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Midday Stock Roundup

The S&P 500 was flat in midday trading at 1,999.81.

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Bridgford Reports $2 Million Profit

Shares in Anaheim-based Bridgford Foods Corporation jumped 9.9% to $10 per share and a $91.8 million market cap.

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CHOC Eyes More Collaboration With Counterpart in SD

HEALTHCARE: Pediatric specialists consider move into managing care

Children’s Hospital of Orange County and Rady Children’s Hospital in San Diego are contemplating pursuing a state license that could make them eligible to more closely manage healthcare delivery for nearly 500,000 children in the region.

Landsea Pays $186M For Silicon Valley Infill Site

REAL ESTATE: Recent arrival to OC plans 450 townhomes on 25 acres

Landsea Holdings Corp., OC’s newest homebuilder, has made its largest purchase to date for an infill housing development in Silicon Valley.

Fearless of Failure

Entrepreneur Bounced Back from Setbacks to Create Again

A cancer diagnosis before he turned 21 changed Hayes Drumwright’s perspective on life and pushed him to take chances on business ventures.

R&D Market Activity Healthy in Q4

Orange County’s research and development market experienced negative net absorption of 26,363 square feet in the fourth quarter, marking two consecutive quarters of negative net absorption.

Birtcher Anderson Back as Buyer with Portfolio Deal

Gets 18-Building Package in NorCal for $64M

San Juan Capistrano-based real estate investor Birtcher Anderson Realty has made its largest purchase in several years, picking up a portfolio of light industrial and flex buildings in Northern California.

Toyo Tires Partners With Rally Driver Ken Block

YouTube Star, Ducks Deal Add Visibility

Toyo Tire U.S.A. Corp. has signed a marketing partnership with Ken Block, a rally driver and star of the “Gymkhana” extreme driving videos.

REIT Looks to Resolution of Texas Center Problems

Tenant Default Puts Facilities on Block

Irvine-based healthcare real estate investor and owner Sabra Healthcare REIT Inc. is moving toward the end of a long-running challenge with one of its major tenants.

Real Estate Deals

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

Mesa West Newport LLC sold an apartment building in Costa Mesa for $9.8 million, or about $245,000 per unit.

Vizio Will Fight Viewer’s Tracking-Habits Lawsuit

TV Owner Says Data- Capture Disable Difficult

A class-action lawsuit in Indiana challenges a potential new revenue stream for Vizio Inc. as it weighs an initial public offering.

OCBJ Calendar

March 7-16, 2016

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No.10

A Netherlands-based subsidiary of American Vanguard Corp. in Newport Beach made an undisclosed investment in Belgium-based Biological Products for Agriculture.

PacSun Retains Restructuring Specialist

Pacific Sunwear of California Inc. has hired Washington, D.C.-based restructuring firm FTI Consulting Inc. and investment bank Guggenheim Securities in New York to deal with $160 million in debt payable at the end of this year.

Hot Dog Chain Founder Plans to Sell It

The owner of Santa Ana-based restaurant chain Jerry’s Wood-Fired Dogs plans to sell the company he founded in 2003, the Orange County Register reported.

Hotel Gets $140M, Land for Expansion

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

Kawasaki Names President’s Successor

Kawasaki Motors Corp. U.S.A President Masafumi Nakagawa plans to retire in April and will be succeeded by Yoshitaka “Yoshi” Tamura.

Check It Out: OC Food Cos. Top $16B in Revenue

THE LIST: 3,000 workers here, 45,000 overall

The Business Journal’s inaugural list of food and beverage suppliers based in Orange County shows an industry that notched a 5% increase to more than $16 billion in revenue last year.

Mexican Food Venture Wants to Sizzle

Hormel-Herdez Partnership Tests Market for More US Growth

They’re building a better burrito in the basement of an office building in Orange.

Tourism Group Forms Sports Division

Visit Anaheim formed Sports Anaheim to attract amateur sporting events to Orange County.

Wanted: Best Places to Work for OCBJ’s Listing

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

Is your workplace great?

How Ingardia Bros. Achieved Zero-Landfill Status

SERVICES: Santa Ana restaurant supplier also adds solar power

It’s taken about five years for Sam Ingardia, co-owner of Santa Ana-based Ingardia Bros. Produce Inc. with brother Joseph, to convert the food supply company to a zero-landfill and solar-powered operation.

Wet Seal Moves HQ To Irvine Spectrum

RETAIL: Apparel chain pares back under private equity

Wet Seal LLC is moving on—literally.

Latest Proposed Bank Reaches $30 Million Mark

FINANCE: Draws most funds from father, daughter in Sonoma

Organizers of a proposed new bank recently submitted initial applications to the Federal Deposit Insurance Corp. and the California Department of Business Oversight.

Lindquist Legacy; Julia Turns 19; Jun’s Latest

Here’s a bet that Jack Lindquist got a couple of extra smiles before his recent passing at the age of 88.

Restaurateur of the Year Built 2nd Career on Memories

Italian Food at Home, Trips To Italy Inspired Eateries

Cathy Pavlos, co-owner and chef of Lucca in Irvine and Provenance in Newport Beach, has earned her place as one of Orange County’s most admired chefs. She is our 2016 Restaurateur of the Year.

Big-Name Backers For NB Fintech Startup

TECHNOLOGY: NEFT seeks 30 million app users this year

A Newport Beach-based startup backed by former heads of Apple, Morgan Stanley and Nordstrom aims to bring transparency to the murky world of credit ratings.

Friday, March 4

Unemployment Drops; Jobs, Too

Orange County’s nonseasonally adjusted unemployment rate dropped from 4.1% to 4% in January as the U.S. Department of Labor’s annual review said the county lost 30,300 jobs, said the California Employment Development Department.

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Midday Stock Roundup

The S&P 500 was up 0.7% in midday trading to 2,007.27.

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PacSun Hires Restructuring Specialist

Pacific Sunwear of California Inc. has hired Washington, D.C.-based restructuring firm FTI Consulting Inc. and investment bank Guggenheim Securities in New York to deal with $160 million in debt payable at the end of this year, according to The Wall Street Journal.

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Thursday, March 3

Clean Energy Reports Losses

Newport Beach-based Clean Energy Fuels Corp. reported lower annual revenue and income and its stock declined in trading Friday.

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Midday Stock Roundup

The S&P 500 was flat in midday trading at 1,986.76.

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Habit Falls on Weak Guidance

Irvine-based Habit Restaurants Inc. shares fell about 10% to a market cap of $508 million in heavy trading after the fast causal burger chain issued lower than expected guidance for this year.

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Wednesday, March 2

Universities Join Forces on Arts

Chapman University's College of Performing Arts, Cal State University-Fullerton's College of the Arts and UC Irvine's Claire Trevor School of the Arts will develop the Collaborative Arts Development Experience (CADE).

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Visit Anaheim Forms Sports Unit

Visit Anaheim has formed Sports Anaheim to attract amateur sporting events to Orange County. Roy Edmondson, vice president of sports development for the destination marketing organization, will lead the new division.

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MemorialCare Closing SC Site

Fountain Valley-based MemorialCare Health System said today that it will close its Saddleback Memorial Medical Center’s San Clemente campus on May 31.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 1,980.26.

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Tuesday, March 1

Rutan Names MP

Layne Melzer is the new managing partner of Costa Mesa-based Rutan & Tucker LLP, Orange County’s largest full-service law firm.

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Kia Leads OC Auto Brands

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

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Willdan Acquires NY Consultant

Anaheim-based engineering consultant Willdan Group Inc. plans to acquire Pelham, N.Y.-based Genesys Engineering PC on undisclosed terms in a deal expected to close this month.

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Midday Stock Roundup

Indices were up in midday trading based on gains in U.S. manufacturing and construction.

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