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Perspicacity; Garth-Ted Latest

Cylance Inc. $120M raise led by Blackstone tops in awhile here, boosts Stuart McClure’s cyber security firm well beyond unicorn status…and boosts OC growth-stagers, which enter 3Q 2018 with but 2 IPOs on the year, Evolus and Hancock Jaffe. Reported VC funding also off since start of ’17… (see related story this page)

Fmr. Gov. Pete Wilson was among eulogizers of longtime aide and Irvine-Co. consigliore Larry Thomas at July 1 Mem’l at Fashion Island Hotel. Wilson recalled the redoubtable Thomas setting up what almost seemed like a setup during his re-election campaign in ’94: “45 journalists at a meeting with LA Times Editorial Board, Wilson recalled. “I wasn’t happy with Larry.” Wilson got the Times’ endorsement—last ever for a GOPer?—and an easy second term. “LT’s special skill, his perspicacity, Wilson told the large Sunday crowd, many of them ‘Larry’s Kids.’

“Larry gave you high counsel and if you took that counsel you were better off,” the former Presidential candidate said.

Economist Jim Doti got backup on his economic predictions from PIMCO, the bond giant in Newport Beach.

Mihir Worah, PIMCO’s chief-investment officer for asset allocation predicted another 12 mos. of growth, and maybe three years before a possible recession (Doti thinks maybe 2020). As for housing, “We’re not seeing any bubble like we saw in 2007 to 2008,” Worah ttold a gathering of the Orange County CFA Society. He also predicted interest rates should stay low as Fed won’t return “to the days of 5% to 6% rates.” Also speaking Olivia Albrecht, head of PIMCO’s enviro, social and governance product development…  

Kudos to Ric Franzi, guru of OC networking, on “Killing Cats Leads to Rats.” Some 50 Franziche at June 25 book signing at Center Club, including Wing Lam, co-founder of Wahoo’s Fish Taco, and Michael Solt, Dean of the business school at Cal State University at Long Beach…

Garth Blumenthal added a lawsuit to his legal battles with Fletcher “Ted” Jones. Blumenthal was longtime GM of the Jones-owned Mercedes-Benz dealership in Newport and partner with Jones on a Mercedes dealership in Temecula. Already in arbitration, Blumenthal lawyers Greenberg Gross LLP now suing Jones and Fletcher Jones Motorcars in Orange County Superior Court claiming breach of contract and fraud. Blumenthal and Jones arrived at the ashes of Jim Slemons Imports together, Jones buying the dealership out of bankruptcy in late 1991, Blumenthal becoming GM shortly after and “the driving force behind the great success of Motorcars,” the suit claims. Motorcars is “the top Mercedes-Benz dealership in the U.S.,” per the filing.

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