Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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China-Based Athletic Brand Picks Irvine for U.S. Headquarters

361 Degrees International Ltd., which bills itself as second-largest athletic brand in China, has chosen Irvine for its North American headquarters.

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Midday Stock Roundup

The S&P 500 fell 0.1% to 2,010.03 in midday trading.

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Register Expected to Close on HQ Sale, Make Severance Payments

A sale of the Santa Ana headquarters of the Orange County Register to developer Mike Harrah is expected to close within a few days, according to sources.

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Unemployment Rate, Jobs Fall

Orange County’s unemployment rate dipped to 5.4% in August despite a decrease of 1,900 jobs over the month.

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Group Pays Off $3.86M Worth of Corinthian Students’ Debt

An offshoot group of the Occupy Wall Street movement paid off $3.86 million in loans owed by 2,761 students of a Corinthian Colleges Inc. school, according to reports.

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Entertainment Parks Operator Sells 15 Locations

Newport Beach-based leisure park owner and operator Palace Entertainment Inc. has sold 15 of its entertainment center locations to Apex Parks Group in Aliso Viejo.

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Montage Names Managing Director

Irvine-based Montage Hotels & Resorts named Rick Riess managing director of its coastal Orange County flagship resort Montage Laguna Beach.

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Autobytel Increases Share Buyback Plan

Autobytel Inc.’s board of directors has approved an additional $1 million common stock repurchase program, increasing the total planned amount to $3 million.

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Irvine Appliance Maker Names New Ad Agency

BSH Home Appliances Corp. selected ELA Advertising as its strategic, creative agency-of-record for its Thermador brand cookware.

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Midday Stock Roundup

The S&P 500 rose 0.4% to 2,009.61 in midday trading.

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Casanova Pendrill Loses Miller Lite

Costa Mesa-based Casanova Pendrill lost the Latino-American portion of the Miller Lite advertising business.

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Midday Stock Roundup

The major indices were each down slightly in midday trading awaiting Federal Reserve action today.

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U.S. Agency Sues Corinthian

The Consumer Financial Protection Bureau today sued Santa Ana-based Corinthian Colleges, Inc. and alleged it engaged in “illegal predatory lending.”

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Mission Hospital to Open Neuroscience Institute

Mission Hospital said that it is opening a new $185 million Neuroscience and Spine Institute tomorrow on its main Mission Viejo campus.

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Midday Stock Roundup

The S&P 500 rose 0.82% to 2,000.37 in midday trading.

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Johnny Rockets Launches Smaller Sites

Aliso Viejo-based Johnny Rockets Inc. said it would develop several types of smaller restaurants and work with an outside company to develop some of them, according to reports.

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Ad Shop Raises $5.2 Million

Adaptive Medias Inc. raised $5.2 million from two investors by selling 2.13 million shares of its common stock at $2.25 per share.

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Windjammer Sells Auto Parts Maker

Newport Beach-based buyout firm Windjammer Capital Investors has agreed to sell its portfolio company BBB Industries LLC to an investment firm in London.

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Avanir Shares Up on Positive Trial Data

Aliso Viejo-based Avanir Pharmaceuticals Inc.’s shares rose today on positive clinical trial results for a potential Alzheimer’s disease treatment.

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Fullerton Shopping Center Sells for $48.5M

A Chinese real estate investor has bought Amerige Heights Town Center, a 163,514-square-foot retail center in Fullerton.

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Federal Judge Grants Allergan Injunction Hearing Request

Allergan Inc. said today that a federal judge has set an Oct. 28 hearing for a preliminary injunction against hostile suitors Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management LP.

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Allergan to Cut 129 Irvine Jobs

Irvine-based Allergan Inc. has filed papers with state officials saying it will lay off 129 employees.

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Oculus Co-founder Gives $31M

The cofounder and chief executive of Irvine-based Oculus VR Inc. has pledged $31 million to the University of Maryland-College Park to build a new computer science building focused on virtual reality, according to a report.

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RSM Smoothie Seller Plans 58 Locations

Bowl of Heaven plans to add 58 new franchised locations in Orange County, Los Angeles, San Diego, San Francisco and Las Vegas, the company said.

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Midday Stock Roundup

The S&P 500 fell 0.22% to 1,981.24 in midday trading.