Stories for September 2016

Friday, September 30

Irvine Company An Energy Champion

The California Energy Efficiency Industry Council named Newport Beach-based Irvine Company one of three Energy Champions for 2016.

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Midday Stock Roundup

The S&P 500 was up 0.9% in midday trading to 2,170.88.

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Opus Bank to Sponsor Pac-12

Opus Bank in Irvine was named official bank of the Pac-12 Conference and sponsor of Pac-12 Networks.

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Thursday, September 29

Irvine Company Names Resorts SVP

The Irvine Company named Chad Bustos senior vice president of sales and marketing for its resort properties, a new title.

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Midday Stock Roundup

Indices were down in midday trading on the potential unraveling of a deal by OPEC to cut oil production.

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PacLife Names CFO

Pacific Life Insurance Co. in Newport Beach named Darryl Button as chief financial officer effective March 2017.

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Frost Data Gets Healthcare Partner

Frost Data Capital in San Juan Capistrano will work with DST Systems Inc. in Kansas City, Mo., on big data analysis for healthcare companies.

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Wednesday, September 28

New Head of CSUF Institute

Sandy Bond is Cal State University-Fullerton’s new director of its Real Estate and Land Use Institute, the university said.

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Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,159.69.

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Ensign Group Exits Urgent Care

Ensign Group Inc. in Mission Viejo plans to sell 16 urgent care facilities that are open or in development in the Seattle market to MultiCare Health System in Tacoma, Wash.

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Tuesday, September 27

Mazda Ad Shop CCO Departs

The chief creative officer of Mazda North American Operations’ advertising agency of record, Garage Team Mazda in Costa Mesa, has “chosen to leave his position to pursue other interests,” according to the Irvine-based automaker.

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Midday Stock Roundup

The S&P 500 was up 0.6% in midday trading to 2,159.05.

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Allergan Study: 1,563 OC Jobs, $307M Payroll

Allergan Plc’s local operations provide 1,563 jobs here with a combined payroll of about $307 million, based on the company’s average salary statewide, an economic impact study said.

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Monday, September 26

Auto Show Makes Room for Trucks

This year’s Orange County International Auto Show will occupy 25% more room at the Anaheim Convention Center for its Oct. 6-9 run.

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NB Attorney Named to National List

Yasmine Abdel-Aal, a principal at Markah Legal PC, has been named a “Top 40 Young Lawyer” by the American Bar Association.

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Carrick Capital Buys in Philadelphia

Carrick Capital Partners in Newport Beach has invested $50 million in InstaMed in Philadelphia.

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Midday Stock Roundup

The S&P 500 was down 0.8% in midday trading to 2,148.28.

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Online Retailer to Open South Coast Plaza Pop-Up Store

Irvine-based menswear company Combatant Gentlemen next month plans to open a pop-up store at Bloomingdale’s in South Coast Plaza that will remain open throughout the holiday season.

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OCTANe, OC Tech Group to Merge

OCTANe in Aliso Viejo will merge with Orange County Technology Alliance in Mission Viejo.

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Cheese Maker Gets $3M in Series B

Good Culture LLC in Irvine closed a $3 million Series B round from three investors.

Engineering Firms’ Local Billings Up 7% to $1.45B

OC Market Defies US Slide on Oil Price Decline

Orange County’s top engineering firms had a mixed year with an increase in local billings as companywide revenue dipped.

Architecture Firms’ Local Work Grows 4% to $451M

Renovations Up for Office, School, Retailer Clients

Orange County’s architecture firms combined for about $451.1 million in local billings in the past year, up about 4%. Firmwide billings dropped 11% based on numbers reported by half of the firms.

Avocado Board Aims for Apples

MARKETING: MV outfit backed by feds touts 5-year plan

You’ll be hearing about the benefits of “an avocado a day” in the future if Hass Avocado Board’s new five-year strategic plan bears fruit.

TA Realty’s South Coast Metro Offices Up for Sale

Sandpointe Offices Hold Universal Electronics HQ

Boston-based TA Realty has put up for sale a pair of eight-story offices it owns in the South Coast Metro area of Santa Ana, according to area brokers.

Real Estate Deals

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

A retail building in Orange was sold for $4 million, or about $544 per square foot.

Fiber Optics in Cox Growth Plan for OC Operations

New Regional Manager Oversees Area Expansion

Sam Attisha, Cox Communications Inc.’s new regional manager for Orange County, has laid out his top priorities in overseeing one of the company’s most important markets.

Startup Gets Four Thumbs Up on Entrepreneur Show

‘Eat Cleaner’ Scrubs Produce and Extends Life

An Aliso-Viejo startup that created a line of wipes and washes for produce was recently featured on an entrepreneurial TV show. 

OCBJ Calendar

Sept. 26-Oct. 5, 2016

This week's business and other events listings.

Alcatel Signs as VR Partner for Live Nation Collective

Irvine-Based Brand to Show Tech at Concerts

Smartphone maker Alcatel Onetouch in Irvine signed on as the exclusive mobile handset and VR accessories partner of Live Nation Worldwide Inc.’s Ones To Watch, a Los Angeles-based “collective of bloggers, music geeks and concert fanatics” dedicated to discovering and presenting new artists.

Aerie Rises on Latest Signs of Progress for 2 Drugs

Shares Up Sharply; Market Cap About $1B

Irvine-based Aerie Pharmaceuticals Inc. has been ramping up its activity in recent weeks.

Sweet Spot for Luxe Market: $4 Million-$6 Million

Homes in Range Fetch 94% Of List in Recent Months

The luxury home market in Orange County is defined by the Institute for Luxury Home Marketing as the top 10% of overall home listings.

ADDENDUM

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

The Disneyland and Disney California Adventure Southern California annual pass has been revived at a price of $459 after a two-year hiatus on new sales.

Business Journal Honors Innovators

Over 350 people celebrated the winners of the Business Journal’s second annual Innovator of the Year Awards as the event’s keynote speaker extolled the value of serendipity in the process of innovation.

J&J to Pay $4.3 B for Abbott Medical

Johnson & Johnson in New Brunswick, N.J., will buy Abbott Medical Optics in Santa Ana for $4.3 billion in cash in a deal expected to close early next year.

Open Offices 2.0—Roaming Desks, Private Spaces

New Collaborative Offices Designed for Productivity

Switching to an open-office or collaborative office design can do much more than attract millennial employees. It can save business owners’ money.

Amazon’s Prime Now Sets Up Near Airport

REAL ESTATE: 170,000 SF to support 2-hour delivery program

Amazon.com has quietly signed a lease for an industrial building not far from John Wayne Airport that appears poised to be a linchpin in the online retailer’s growing base of same-day delivery services in the area.

OCVA Plans Promotional Push in San Francisco

TOURISM: Turn to domestic marketing expected in January

The Orange County Visitors Association has slated a $300,000 promotional blitz in hopes of enticing tourists from San Francisco.

Shopoff Eyes Residential In Downtown Anaheim

REAL ESTATE: 21-acre industrial property would get 500+ units

Shopoff Realty Investments is looking to convert a nearly 21-acre industrial property in downtown Anaheim into a major residential development with more than 500 homes, townhomes and apartments.

Kingston Milestone: Headset Sales Top 1 Million

TECHNOLOGY: Revenue about $100 million for 2 years

Kington Technology Inc. has sold more than 1 million headsets geared for gamers since releasing its first model a little over two years ago.

LBA Nears Sale Of Industrial for $1.5B

REAL ESTATE: Blackstone under contract to buy nearly 50 buildings

Irvine-based real estate investor LBA Realty is close to making its largest deal in more than a decade with a blockbuster sale of a large portion of its industrial portfolio.

Struppa’s Strong Start; About Our OC 500; Fall Fashion Find

Daniele Struppa is off to a strong start on establishing his own manner of maintaining the high profile of the president’s office he takes over from the ever-energetic Jim Doti at Chapman U.

J.D. Power Play In Costa Mesa

Auto Vet at Helm as Renowned Ratings Specialist Sets Up HQ

It’s no surprise that J.D. Power and Associates—the outfit that cut its teeth on automotive industry ratings—moved its headquarters to Costa Mesa last fall.

Greenwave’s Latest Growth Spurt

Gets Analytics Operations in Predixion Deal

A number of local companies and investors stand to benefit from Irvine-based smart technology provider Greenwave Systems Inc.’s acquisition of Predixion Software in Aliso Viejo.

Friday, September 23

Midday Stock Roundup

The S&P 500 was down 0.5% in midday trading to 2,166.55

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Thursday, September 22

Port of Long Beach Gets Interim Chief

The Board of Harbor Commissioners appointed Duane Kenagy interim chief executive at the Port of Long Beach to replace Jon Slangerup, who is leaving Oct. 28 to become chief executive of an aviation technology company in Canada.

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Microsemi’s Peterson to Chapman Board

Chapman University said Microsemi Corp. Chairman and Chief Executive James Peterson has been elected to its Board of Trustees.

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Business Journal Honors Innovators

About 365 people attended the Business Journal’s Second Annual Innovator of the Year Awards luncheon at Hotel Irvine on Thursday.

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Midday Stock Roundup

The S&P 500 was up 0.7% in midday trading to 2,175.34.

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Wednesday, September 21

Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,142.94.

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Register to Move to Anaheim

The Orange County Register’s headquarters will move to Anaheim next March.

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Tuesday, September 20

JWA Traffic Dip on Southwest Drop

John Wayne Airport passenger traffic declined slightly in July compared with the same month a year earlier because of a “Southwest reduction,” an airport spokesperson said.

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New CFO at Banc of California

Irvine-based Banc of California named J. Francisco Turner co-Principal Financial Officer, effective immediately.

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Saddleback College Chief to Exit Post

Saddleback College President Tod Burnett plans to step down in June 2017.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,141.10.

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Greenwave Buys Predixion

Irvine-based smart technology provider Greenwave Systems Inc. bought Predixion Software in Aliso Viejo on undisclosed terms.

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Monday, September 19

Allied Buys in Massachusetts

Santa Ana-based security firm Allied Universal has acquired on undisclosed terms Apollo International in Walpole, Mass.

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Cottage Cheese Maker Adds $3M

Good Culture LLC in Irvine closed a $3 million Series B round from three investors.

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Abbott Optics Unit to J&J for $4.3B

Johnson & Johnson in New Brunswick, N.J. will buy Abbott Medical Optics in Santa Ana for $4.3 billion in cash. The deal is expected to close early next year.

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,142.52.

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Fastest Growers Top $15 Billion

Employment Up 16% to Nearly 21,000 Jobs

The 157 fastest-growing private companies in Orange County combined to boost revenue by more than 66% over the last two years to an estimated $15.4 billion.

About Our Annual Fastest- Growing Private Companies List

The Business Journal’s annual list of fastest-growing private companies includes OC-based businesses owned by individuals, groups of people, families, venture capitalists, private-equity firms and other investors.

Tablet Maker grandPad Expands to Switzerland

Orange Startup Keeps Seniors Connected

Orange-based startup tablet maker grandPad Inc. has partnered with Switzerland’s largest telecom in its first international expansion.

Ketchum Puts Herbert Atop Its List; Can You Say Quatrefoil?

Marshall B. Ketchum University in Fullerton wasn’t listed among the recent and much-heralded U.S. News & World Report rankings of post-secondary educational institutions throughout the land.

PacLife Names New Head of Life Insurance Division

FINANCE: Veteran to take reins from Schindler next year

Newport Beach-based Pacific Life Insurance Company has reason to expect a smooth transition when Dawn Trautman becomes executive vice president of the life insurance division on Jan. 1.

Lennar Preps New Homes at Great Park Neighborhoods

Some Parasol Park Homes To Open in November

The first batch of home sales at Great Park Neighborhoods’ Parasol Park in Irvine appears to be kicking off a few months earlier than initially expected.

Real Estate Deals

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

Onward Engineering and Axsun signed a lease at 300 S. Harbor Blvd. in Anaheim for $525,465.

OCBJ Calendar

Sept. 19-28, 2016

This week's business and other event listings.

Kia Playbook: Jackson, Bosworth in for Sorento Spot

Throwback Recalls ’80s Game Tecmo Bowl

Irvine-based Kia Motors America Inc. is hoping its prospective Sorento SUV customers are old enough to remember the 1980s, and specifically Tecmo Bowl, a football game made for Nintendo Entertainment System that paved the way for the Madden NFL game series.

Masimo Pulse Oximeter at 100 Apple Retail Stores

Consumer Version Of Device Goes for $300

Masimo Corp. in Irvine now sells its MightySat pulse oximeter in about 100 Apple stores and on Apple.com.

ADDENDUM

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

The Roman Catholic Diocese of Orange has received the President’s Award from the Orange County Chapter of the American Institute for Architects for its work on Christ Cathedral in Garden Grove.

PHILANTHROPY

The world tour celebrating the 100th birthday of the late founder of Lamborghini sports cars made its first pit stop in the U.S. at the Marconi Automotive Museum in Tustin in the form of a fundraiser to help feed and house Southern California’s “motel kids.” 

CalSTRS Gets Rockwell as Tenant in Irvine

REAL ESTATE: Hines, Oaktree sell for more than $60M

A San Francisco-based investor backed by funds from the California State Teachers’ Retirement System has bought a two-building office complex in Irvine in a deal believed to have topped $60 million.

Hybrid Approach Drives Irvine-Based Builder

WJK Development Blends Styles on ‘Semi-Customized’ Residences

Family-owned WJK Development Co. in Irvine didn’t take long to grab the top spot as the Business Journal’s Fastest-Growing Small Company.

Burgeoning Cybersecurity Lifts Cylance Nearly 2,000%

Uses Artificial Intelligence to Detect Malware; Adds Consumers to Federal, Corporate Clients

Cylance Inc.’s security software was lauded recently by federal officials for playing a key role in discovering and mitigating one of the largest government data breaches in U.S. history.

Mobilitie Looks Good For Ride in Fast Lane

TECHNOLOGY: Potential deal with Sprint promises more growth

You could say that Mobilitie LLC moved up a weight class among Orange County’s private companies last year.

Developer Takes On ‘Rusty Skeleton’

REAL ESTATE: Stalled project seen as senior housing, retail

A land development company in Los Angeles County has bought the “Rusty Skeleton,” a long-abandoned construction site in Garden Grove that it plans to turn into a senior housing and retail project.

Western Dental Pins Hope For Revival on Services

HEALTHCARE: More hygienists, network of specialists part of push

Western Dental Services Inc. is one year into a turnaround effort under a new management team that changed how it provides care, started selling new products in dental offices, and has begun to shift its client mix toward those who have commercial insurance, pay in cash or pay via new third-party credit.

Lots to Like in Lido

L.A. Brands, Boutiques Flock to Revamped Retail Center

Newport Beach resident Athena Kasparoff, shopping bags and a long-time sales consultant in tow, perused the latest offerings from Bailey44, a Los Angeles-based brand usually found at better department stores in upscale retail centers.

‘Smart’ Glasses Developer Sets Out to Raise Funds

Aging Baby Boomers Are Core Market

A Newport Beach-based company that has developed “smart” glasses—which incorporate augmented and virtual reality to help the visually impaired—is looking to raise $2 million in a Series A round.

Zhang Signs On to Mentor at Concordia

Charlie Zhang, founder of the Laguna Hills-based Pick Up Stix restaurant chain, has been named Entrepreneur-in-Residence by Concordia University Irvine’s business school.

UCI to Open 3,500SF eSports Arena

University of California-Irvine this week will open the first eSports arena run by a public university.

Allergan Buys Derma Firm for $639M

Allergan Plc will buy Vitae Pharmaceuticals Inc. for about $639 million.

UCI Aces Test On Rams Camp

SPORTS: Team’s training camp was school’s showcase

University of California-Irvine is still buzzing in the aftermath of the Los Angeles Rams holding their first training camp in Southern California in 22 years.

BirchStreet Buys Beverage Inventory Software Firm

HOSPITALITY: Hotel service specialist eyes restaurant sector

BirchStreet Systems Inc. has acquired G4 Technologies Corp. in Centennial, Colo., a deal that came on undisclosed terms and gives the Newport Beach-based specialist in hospitality industry services a way into the restaurant sector.

Friday, September 16

AIA President’s Award for Diocese

The Roman Catholic Diocese of Orange has received the President’s Award from the Orange County Chapter of the American Institute for Architects for its work on Christ Cathedral in Garden Grove.

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Irvine Marriott Nears End of $22M Work

The Irvine Marriott has begun a $1.3 million project to remake its arrival driveway area, the last stage of a $22 million overall project that includes room renovations.

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Midday Stock Roundup

The S&P 500 was down 0.5% in midday trading to 2,136.15.

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Aerie to Offer $125M in Stock

Aerie Pharmaceuticals Inc. plans to offer $125 million in stock next week.

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Unemployment Down Led by Services, Construction

Orange County’s unemployment rate fell to 4.4% in August from a revised 4.6% in July.

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Thursday, September 15

Mapping Software Maker Draws $36M

Irvine-based Digital Map Products, a provider of cloud-based spatial technology, has secured more than $36 million in funding, the company said today.

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Chapman Pharma School Starts Center

Chapman University’s School of Pharmacy has opened its first center, which focuses on targeted drug delivery.

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Midday Stock Roundup

Indices were higher in midday trading on the strength of technology and energy stocks; Apple said it sold-out initial supply of its new iPhone and oil prices were higher.

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Wednesday, September 14

UCI to Open eSports Arena

University of California-Irvine next week opens the first eSports area run by a public university.

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,131.52.

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Allergan Buys Derma Firm for $639M

Allergan Plc will buy Vitae Pharmaceuticals Inc. for about $639 million.

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Tuesday, September 13

UCI Leads Updraft on U.S. News’ Rankings

U.S. News & World Report has ranked the University of California-Irvine ninth among public universities nationwide in its 2017 Best Colleges report, released today.

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Concordia Gets Resident Entrepreneur

Charlie Zhang, founder of the Laguna Hills-based Pick Up Stix restaurant chain, has been named Entrepreneur-in-Residence by Concordia University Irvine’s business school.

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Midday Stock Roundup

Indices were down in midday trading as oil prices fell and the real estate sector considered the possibility of an interest rate increase at next week’s Federal Reserve Board meeting.

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Monday, September 12

Innovation Institute in New Alliance

The La Palma-based Innovation Institute has signed an agreement with the Westport, Conn.-based Society of Physician Entrepreneurs, a biomedical and healthcare innovation network of more than 25,000 members in some 20 chapters worldwide.

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Ex-Blizzard Exec in Irvine Startup

Former Blizzard Entertainment Inc. Creative Director Rob Pardo has started a gaming studio in Irvine that aims to build the types of interactive worlds that made his former company a pioneer in the industry.

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Confie Buys Three Brokerages

Huntington Beach-based insurer Confie continued to expand with the acquisition of brokerages in Illinois, Nevada and Florida.

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Midday Stock Roundup

The S&P 500 was up 0.7% in midday trading to 2,142.68.

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Allergan Buys Eye Therapy Developer

Allergan Plc bought RetroSense Therapeutics for $60 million and milestone payments.

PAAMCO Names Weinberger’s Successor

Irvine-based Pacific Alternative Asset Management Co. named Basil Williams head of portfolio management.

Alliant Adds in Pacific Northwest

Newport Beach-based Alliant Insurance Services has acquired on undisclosed terms the Farmin, Rothrock & Parrott insurance brokerage in Spokane, Wash.

United Capital Buys in Connecticut

Newport Beach-based United Capital Financial Advisers LLC has acquired on undisclosed terms the private client group of Westport Resources Management in Westport, Conn.

Masimo-Medtronic Wrangle Set to End

HEALTHCARE: Licensing, damages total $685M to date

Masimo Corp. in October 2018 will conclude a long-running agreement concerning pulse oximetry patents—a framework based on licensing deals and litigation that have brought the Irvine-based device maker about $685 million over the last 10 years.

Anaheim Nears Sale of 25 Acres for Retail

REAL ESTATE: Zelman eyes 300,000 SF near Knott’s

The city of Anaheim is moving forward on plans to sell a long-vacant, 25-acre site on its western side to a retail developer.

China Car Connections; Buena Park’s Big Day; Harrah on the Clock

Add a couple of entries from China’s wave of would-be makers of electric cars to OC’s auto industry, which started with companies from Japan—Mazda and Mitsubishi —and now includes Hyundai and Kia from South Korea.

Medical Marijuana Drug Industry Takes Root in OC

Much More Here Than Dispensaries, Grow Houses

Orange County, which is known for its concentrations of medical device makers and drugmakers, is quietly building a medical cannabis industry.

Hong Kong Firm Nabs IBC Residential Site

REAL ESTATE: 371 apartments eyed for St. John Knits buildings

A Hong Kong-based company that bills itself as a business incubator and investor in early-stage technology companies has taken a more down-to-earth approach with its first reported deal in Orange County: a land buy for a big apartment development in Irvine.

WD Lays Out Plan for Global Consolidation

TECHNOLOGY: Will cut 3 plants, 1,900 jobs in Asia as hard drives lag

Western Digital Corp. will close three manufacturing plants and cut 1,900 jobs in Asia in a move that shifts more production to its sprawling Silicon Valley operation and elsewhere.

Spiritual Side of Startups

Execs Give, Get Mutual Support Through Prayer at Meetups

A group of men sit in a circle, heads bowed, praying for each other. Sunlight streams in through a skylight in the ceiling. Religious rock music wafts softly in the background.

Allergan Legacy: Entrepreneurs, Offshoots

New Firms Take the Kinds of Risk Giant Used to Pursue

It’s been about two years since Allergan PLC was acquired in a friendly manner by Parsippany, N.J.-based Actavis after deftly deflecting a hostile takeover attempt by Canada-based Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management LP.

Biotech Firm to Help Raise Startups’ Profile in DC

Anvyl Already Considered Standout Among Peers

Irvine-based biotechnology company Anvyl LLC will be among 35 startups to participate in the first University Startups Demo Day on Sept. 20 in Washington, D.C. The event is hosted by Washington, D.C.-based National Council of Entrepreneurial Tech Transfer, an association of university startups officers.

OC, India Both Figure Into Lantronix Comeback Bid

TECHNOLOGY: Sees IoT as pathway back to profits

Jeff Benck’s new game plan for Irvine-based Lantronix Inc. is in motion after taking the helm of the sputtering networking equipment maker late last year.

Angels Push Back on Mixed-Use Plan Near Stadium

LT Global Awaits City EIR Decision, Council Vote

It looks like the biggest battle the sputtering Los Angeles Angels of Anaheim will have on their hands over the next few months will involve potential development of a 14.8-acre site next to their stadium.

Real Estate Deals

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

An apartment complex in La Habra was sold to Schroeder Investment Partners Inc. for $5.7 million, or about $220,000 per unit.

New WoW Release Promises Blizzard Recovery

Aug. 30 Release Already Boosted Company’s Sales

Expect another strong quarter for Irvine-based Blizzard Entertainment Inc. with the Aug. 30 release of “World of Warcraft: Legion,” the sixth expansion set of the franchise role-playing game.

OCBJ Calendar

Sept. 12-22, 2016

This week's business and other event listings.

PacLife Ads Take Cues From Creature of the Deep

Company Mascot Teaches Personal Finance Wisdom

Humpback whales are back in new Pacific Life Insurance Co. commercials that debuted this month during the first nationally televised games of the college football regular season on ABC.

Molina Extends Affordable Care Act Coverage to OC

Taps Affiliated Doctors, Monarch Health Plan

Molina Healthcare Inc. will add Orange County to its Covered California service area next year.

What $10 Million Will Get You in OC’s Brisk Market

Mediterranean-Style Luxe To Inland Deluxe

The luxury market in Orange County is booming.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 37

Costa Mesa-based Karma Automotive LLC set the price for its Revero sports car at $130,000 but declined to peg a date when the car would be delivered to the 80 buyers who’ve placed initial orders.

Biggest Drugmakers Hold Steady on OC Jobs

Allergan Still No. 1 for Local Employment

The largest drugmakers with headquarters or significant operations in Orange County employed 3,210 here during the 12-month period that ended Aug. 30, about the same as a year earlier.

Employment Up at Biggest Medical Device Makers

Local Public Companies Lead; Net Gain of 970 Workers

Medical device makers with operations in Orange County added nearly 1,000 employees over the past 12 months for a growth rate of nearly 6%, according to Business Journal research.

Friday, September 9

Midday Stock Roundup

Indices were down in midday trading on concerns that countries are set to enact tighter monetary policies.

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KKR Puts $66M in AcuFocus

AcuFocus Inc. in Irvine received $66 million in a funding round led by KKR & Co. LLP in New York.

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Baja Fresh, La Salsa Sold

Irvine-based BF Acquisition Holdings LLC, the parent company for Baja Fresh Mexican Grill and La Salsa Fresh Mexican Grill, will be acquired for $27 million by MTY Food Group Inc. in Montreal, Canada.

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Thursday, September 8

Karma Sticker: $130K

Karma Automotive LLC in Costa Mesa set the price for its Revero sports car at $130,000 but it was unclear when the car would be delivered to the 80 buyers who’ve placed initial orders.

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Port of Long Beach Chief to Resign

Port of Long Beach Chief Executive Jon Slangerup will resign Oct. 28 after leading the nation’s second largest port for about two years.

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,178.87.

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Alliant Buys in Washington State

Newport Beach-based Alliant Insurance Services has acquired on undisclosed terms the Farmin, Rothrock & Parrott insurance brokerage in Spokane, Wash.

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United Capital Buys in Connecticut

Newport Beach-based United Capital Financial Advisers, LLC has acquired on undisclosed terms the private client group of Westport Resources Management in Westport, Conn.

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Wednesday, September 7

JD Power Sale Complete

The $1.1 billion sale of J.D. Power and Associates, a Costa Mesa-based unit of McGraw Hill Financial Inc., to XIO Group in London is complete, the consumer data and analytics firm said today.

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Netlist in $15M Offering

Netlist Inc. will sell $15 million in common stock, the Irvine-based storage equipment maker said today.

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PacSun Emerges From BK

The U.S. Bankruptcy Court for the District of Delaware confirmed Pacific Sunwear of California Inc.’s restructuring plan Tuesday, a move that enabled the retail chain to emerge from bankruptcy under ownership of lender Golden Gate Capital.

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Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,183.61.

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New Top Exec at Goodman Birtcher

Brandon Birtcher is no longer the chief executive of Irvine-based Goodman Birtcher, according to the industrial developer’s Australian parent company.

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Tuesday, September 6

Smith Micro Gets $4M

Aliso Viejo-based Smith Micro Software announced today that it’s raised $4M in funding from Unterberg Koller Capital Fund L.P. in New York, along with William Smith, the company’s founder and chief executive.

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Rox Medical Raises $40M

Rox Medical in San Clemente got $40 million in Series E financing led by Novartis Venture Fund and Apple Tree Partners, with participation by Versant Ventures and Domain Associates.

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Aneurysm Device Developer Sold

Blockade Medical in Irvine has been sold to Balt International in Paris on undisclosed terms.

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Allergan Buys Eye Therapy Developer

Allergan Plc bought RetroSense Therapeutics for $60 million and milestone payments.

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Knobbe Martens Sponsors Cyclocross Team

Irvine-based Knobbe Martens Olson & Bear LLP will sponsor the Aspire Racing team for the 2016-17 season, in the intellectual property law firm’s first foray into national sports marketing.

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UCI Gets $1.3M for Diabetes Work

Two University of California-Irvine researchers have received a grant of $1.3 million from New York City-based JDRF to support their work on Type 1 diabetes

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,183.46.

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Meehan to Managing Partner at Rutan

Costa Mesa-based Rutan & Tucker LLP announced today that William Meehan has been elected to managing partner of the law firm, which also has an office in Palo Alto.

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PAAMCO Names Head of Portfolio Management

Irvine-based Pacific Alternative Asset Management Co. named Basil Williams head of portfolio management.

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First American Buying Title Insurance Research Firm

Santa Ana-based First American Financial Corp. is under contract to buy a New Jersey-based title insurance and real estate research firm on undisclosed terms.

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Porsche Dealer Plans To Raise Profile On Mariner’s Mile

AUTOS: 11 lots would be consolidated along PCH

AutoNation Inc. is eyeing the Mariner’s Mile area of Newport Beach as the new home for its Porsche dealership.

PHILANTHROPY

Award-winning charter school NOVA Academy Early College High School unveiled its new four-story, 37,000-square-foot educational facility in Santa Ana on Aug. 22. It purchased the building last fall for $8.3 million. Opening ceremonies included the cutting of a red ribbon on the front doors of the school, student speakers, and tours of the building.

Girl Scouts Seek Cash for STEM-Inspiration Effort

Seek $5 Million For NB Program, Center

The Girl Scouts of Orange County is building a $3.9 million Leadership Center in Newport Beach as part of an interactive program intended to give its scouts confidence and career opportunities.

$150M Sale of MV Medical Offices Sets Benchmark

REAL ESTATE: 4 buildings near Mission Hospital total 263,000 SF

A four-building collection of medical office properties surrounding Mission Hospital in Mission Viejo has changed hands for the second time since 2014 in what looks to be Orange County’s biggest office sale so far this year.

Crystal Clear

Tested Leader Takes Sole CEO’s Post at Alliance

Alix Hobbs stepped into a new situation when she took the helm of the nonprofit Crystal Cove Alliance last month—and not just from her perspective.

Nonprofits Face Shifts in Leadership, Media

Orange County’s nonprofit groups are starting to grapple with the kind of leadership changes that larger organizations in longer-established commercial centers already have been through.

Private Foundations Boost Overall Giving By 23%

Combine to Donate $180M, Increase Local Gifts 46%

Orange County’s private foundations gave more locally and overall in their most recent fiscal years.

Corporate Foundations Boost Giving 1.4% to $1.3B

OC Contributions Up 5% To Nearly $20 Million

Corporate foundations active in Orange County continued what’s now a six-year trend of increasing overall cash contributions to OC charities.

Monday, September 5

Chapman Business School Dean to Leave

Reginald Gilyard, dean of Chapman University’s George L. Argyros School of Business and Economics, announced plans to step down at the end of the academic year in May to pursue his passions of helping low-income people and working on military veterans issues.

Swimwear Maker Appoints Chief Exec

Manhattan Beachwear Inc. in Cypress named Kevin Mahoney chief executive, replacing founder Allan Colvin, who recently retired from day-to-day duties at the swimwear designer and manufacturer.

UCI Law School Adds Degree Program

The University of California-Irvine School of Law is accepting applications for a new master’s law degree for non-American lawyers.

Irvine Hilton Sells to LA-Based Buyer

Infinity Realty Advisors in Los Angeles said a client bought the 306-room Hilton Irvine/Orange County Airport.

Publisher Aims To Buy Orange Coast

MEDIA: Parent puts glossy on block in plan to go private

The publisher of Orange Coast magazine hopes to put together a deal to purchase the monthly magazine and its ancillary operations in the wake of Indianapolis-based Emmis Communications Corp.’s announcement that it wants to sell the title.

Real Estate Deals

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

Tropical Holdings LLC and Ruffin Tech Center Ltd. sold a restaurant building in La Habra for $3.3 million, or about $598 per square foot.

Angelo Gordon Leads $30M Laguna Hills Office Buy

REAL ESTATE: Deal retains Lincoln Property as investor

A recently renovated four-story office just off the San Diego (I-5) Freeway in Laguna Hills has a new owner.

ARES Spends Close to $100M for Fullerton Rentals

REAL ESTATE: To renovate 421 units built in 1972, add 40

Irvine-based apartment investor Advanced Real Estate Services Inc. has made one of the largest local property buys of the year, for a 421-unit rental complex in Fullerton.

Masimo Gives on Zika; Great Park’s New Leathernecks

Orange County’s community of business plays a big part in the impressive array of philanthropic groups and nonprofit organizations that operate here, as you’ll find on our front page and in the Special Report that starts on page 15 …

Donahue Schriber Makes Retail Buy in ‘Silicon Forest’

New Beaverton Center Trades for Reported $101M

Costa Mesa-based shopping center owner and developer Donahue Schriber Realty Group has paid top dollar for a recently built property just outside Portland, Ore.

Retail Market Inches Way Up in Q2

The Orange County retail market has had a stable year of gradually recorded improvements.

OCBJ Calendar

Sept. 5-14, 2016; Sept. 22, 2016

This week's business and other event listings.

Mazda’s ‘Jinba Ittai’ Auto Show Presence Like Its Cars

Integrated Message To Mirror Car-Driver Unity

Mazda North American Operations hired experiential marketing agency George P. Johnson in Torrance to redesign its auto show booths for the upcoming season, which kicks off in October at the Anaheim Convention Center.

Western Dental Fills Out Senior Executive Team

New Chief Dental Officer In String of Recent Hires

Western Dental Services Inc. in Orange named Dr. John Luther chief dental officer to replace Dr. Ronald Inge, who left in April to take a similar position with Delta Dental of Missouri in St. Louis.

Students’ Social Media App Attracts 10K Users

Cross-Promotion, Ad Placements Drive Venture

A student entrepreneur team at Chapman University’s Launch Labs—an incubator in the Argyros School’s Leatherby Center for Entrepreneurship and Business Ethics—recently launched its app and has been admitted to the Plug and Play Tech Center in Sunnyvale.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 36

Australia-based online retailer SurfStitch Group Ltd. said a wave of recent losses have prompted it to delay a global rebranding effort that would have consolidated its online operations into a single website named after its e-commerce subsidiary in Irvine.

Startups Get Coveted Audience With Conglomerate

Four at EvoNexus Pitch In Huawei Exec Sessions

Three startups housed at the EvoNexus incubator at University Research Park and another startup based in Irvine held private meetings with representatives from Huawei Technologies Co., one of the largest diversified electronics makers in the world.

Plenty of Taste Temptations Pop Up Around County

Food Hall to Join Growing List of Poke, Burger Spots

Trends are exploding all over the county.

Friday, September 2

Creditors Go After Freedom Insiders

Freedom Communications, the former owner of The Orange County Register, has agreed to allow a committee representing its unsecured creditors to investigate possible legal claims against company insiders, according to court documents filed Wednesday in the Santa Ana division of the U.S. Bankruptcy Court.

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Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,177.00.

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OC Bank Sponsors LA Rams Giving

Banc of California in Irvine has been named the official bank of the Los Angeles Rams Foundation.

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Thursday, September 1

Burba Adds Caribbean Hotels Show

Burba Hotel Network in Costa Mesa will manage the Caribbean Hotel & Resort Investment Summit (CHRIS) for the Caribbean Hotel and Tourism Association.

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UCI Health to Run Catalina ER

UC Irvine Health in Orange will provide emergency room services on Catalina Island beginning today.

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Smith Micro Avoids Delisting

Smith Micro Software Inc. has regained compliance with the NASDAQ Stock Market’s minimum bid price requirement, the Aliso Viejo company announced today.

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Airport Area Hilton Sells

Infinity Realty Advisors in Los Angeles said a client bought the 306-room Hilton Irvine/Orange County Airport.

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UCI Law Adds Master's Program

University of California-Irvine School of Law is accepting applications for a new master’s law degree for non-American lawyers.

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August Mixed for OC Carmakers

Three out of the four Orange County-based automakers fell behind the national sales pace on new-vehicle sales in August, according to New Jersey-based market researcher Autodata Corp.

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Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,168.35.

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