Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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OC Unemployment 3.2%

Orange County’s unadjusted unemployment rate dropped to 3.2% in May from a revised 3.3% in April and below the 3.7% reported for the same period last year, the state Employment Development Department said.

By Peter J. Brennan June 16, 2017 9:50 a.m. share »
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Fight Club OC Sold

New York-based Alliance MMA Inc. has acquired Fight Club OC and other entities under the banner of Roy Englebrecht Promotions in Costa Mesa on undisclosed terms.

By Chris Casacchia June 15, 2017 1:37 p.m. share »
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Carpet Manufacturer Closes Doors

Royalty Carpet Mills Inc., a longtime area carpet manufacturer based in Irvine, has closed, as have several affiliated companies.

By Mark Mueller June 15, 2017 12:30 p.m. share »
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NB Manufacturer a Crowdfunded First on NASDAQ

Shares of Newport Beach-based ADOMANI Inc. surged this morning on its debut on the NASDAQ Capital Market after becoming the first equity crowdfunded company to list on the tech heavy exchange.

By Chris Casacchia June 15, 2017 11:16 a.m. share »
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Irvine Co. Adds Quad to Spectrum Development Push

Orange County’s dominant office landlord and the area’s most active office developer over the past four years isn’t resting on its laurels, with both a ground-up development and a creative-office renovation project in the works.

By Mark Mueller June 15, 2017 11 a.m. share »
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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,427.13.

By Paul Hughes June 15, 2017 10:57 a.m. share »
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HCP in $26M Building Buy

An affiliate of Irvine-based HCP Inc. bought the two-building Scripps Wateridge Corporate Center office campus in Sorrento Mesa, a neighborhood in northwestern San Diego County, for $26.1 million, according to CoStar Group and public data.

By Lou Hirsh June 15, 2017 10:21 a.m. share »
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First Foundation Buys Bank

Irvine-based First Foundation Inc. said it purchased Community 1st Bancorp for $50.4 million in stock to increase its presence in the Sacramento region.

By Peter J. Brennan June 15, 2017 10:16 a.m. share »
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One Irvine Co., ROC Suit Resolved

The Irvine Co. reached an agreement with Newport Beach-based Real Office Centers on one of the properties it had filed an eviction-based lawsuit against the company over, an Irvine Co. spokesman told the Business Journal.

By Deirdre Newman June 14, 2017 5:09 p.m. share »
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Family Businesses Honored

About 325 people attended the Business Journal’s 18th annual Family-Owned Business Awards luncheon at Hotel Irvine on Wednesday.

By Megan Cole June 14, 2017 4 p.m. share »
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Kellogg Leaving La Palma

Michigan-based Kellogg Co. is shuttering its distribution center in La Palma and cutting 280 jobs there, according to a Worker Adjustment and Retraining Notification the cereal and snack giant filed with the state Employment Development Department.

By Mediha DiMartino June 14, 2017 11:27 a.m. share »
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Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,439.00.

By Paul Hughes June 14, 2017 11:07 a.m. share »
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Window Closing For IBC Residential Development

The clock is ticking for residential developers looking to get entitlements for sites in the Irvine Business Complex during the current development boom cycle—and perhaps future cycles.

By Mark Mueller June 14, 2017 9:05 a.m. share »
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Irvine’s Smartlabs Acquired

Irvine-based Smartlabs Inc. was acquired by Richmond Capital Partners, a private investment firm based in Seattle. Terms weren’t disclosed.

By Peter J. Brennan June 13, 2017 1:59 p.m. share »
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PIMCO President to Retire; Co-COOs Named

Pacific Investment Management Co. LLC in Newport Beach said President Jay Jacobs would retire effective Sept. 30 and that two of its executives would be promoted to co-chief operating officer.

By Paul Hughes, Peter J. Brennan June 13, 2017 11:25 a.m. share »
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Black is Back: BlackBerry Relaunches in US With KEYone

Steve Cistulli has delivered this elevator pitch about the BlackBerry KEYone countless times:

By Chris Casacchia June 13, 2017 10:43 a.m. share »
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Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,439.47.

By Peter J. Brennan June 13, 2017 10:38 a.m. share »
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New United Way Head Tapped

Irvine-based Orange County United Way announced the appointment of Susan Parks as president and chief executive, effective June 19 to replace Max Gardner.

By Deirdre Newman June 12, 2017 4:53 p.m. share »
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Conexant in $342M Deal

Chipmaker Conexant Systems LLC in Irvine agreed to be acquired by Synaptics Inc. for about $342 million.

June 12, 2017 2:59 p.m. share »
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PHG President and COO Departs

Pacific Hospitality Group in Irvine said president and Chief Operating Officer Steve Arnold resigned; it named Robb Walker to replace him as chief operating officer. Founder and Chief Executive Tim Busch will add the president’s role.

By Paul Hughes June 12, 2017 12:26 p.m. share »
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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,423.77.

By Paul Hughes June 12, 2017 10:58 a.m. share »
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OC Production ­ Hits Big Time on NBC

An Orange County entrepreneur with zero dance experience has built an international dance empire that’s now on prime-time TV on NBC. And its business model has obtained such a wide reach that others want to emulate it.

By Deirdre Newman June 12, 2017 10:48 a.m. share »
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Ticketing Division Sold

Comcast Spectacor, part of Comcast Corp., sold Irvine-based division Spectra’s Ticketing & Fan Engagement to college sports marketer Learfield Communications LLC in Plano, Texas, on undisclosed terms.

June 12, 2017 10:42 a.m. share »
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Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,434.27.

By Paul Hughes June 9, 2017 10:50 a.m. share »
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Hospitals, Detox and Rehab

How should dependence on a drug or substance be characterized—a choice or a disease? The latter, as addiction is defined as “a mental illness” that “changes the brain in fundamental ways … resulting [in] compulsive behaviors that override the ability to control impulses despite the consequences,” according to the National Institute on Drug Abuse.

By Sherry Hsieh June 9, 2017 9:52 a.m. share »