Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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Hotel Marketer Tops $400M in Reservations

Newport Beach-based hotel sales and marketing company Preferred Hotel Group said it produced $420 million in reservations for member hotels in the first six months of the year.

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Santa Ana Storage Maker Buys Media Archiving Firm

Santa Ana-based storage server maker ProMax Systems bought Golden, Colo.-based Cache-A Corp., which makes portable storage and archiving devices for the media and entertainment industry.

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Laguna Cliffs Names New GM

The Laguna Cliffs Inn in Laguna Beach named Rachel Tejada general manager.

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Broadcom Shares Up on Q2 Report

Irvine-based chipmaker Broadcom Corp. said it earned an adjusted net income of $406 million or $0.65 per share in the second quarter, excluding one-time charges.

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NB Firm Offers App-Making App

Newport Beach-based BuildFire launched a website for companies to build apps and offer them on their own websites or through app stores.

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Job Cuts at Allergan HQ Could be Offset

Allergan Inc. said it will close three of its facilities around the U.S. and lay off about 1,500 employees over the next several months as part of a restructuring plan.

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Midday Stock Roundup

The S&P 500 rose 0.56% to 1,984.66 in midday trading Tuesday.

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NB Firm Offers App-Making App

Newport Beach-based BuildFire launched a website for companies to build apps and offer them on their own websites or through app stores.

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Job Cuts at Allergan HQ Could be Offset

Allergan Inc. said it will close three of its facilities around the U.S. and lay off about 1,500 employees over the next several months as part of a restructuring plan.

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Midday Stock Roundup

The S&P 500 dipped 0.25% to 1,973.19 in midday trading Monday.

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Allergan to Cut 1,500 Jobs

Allergan Inc. said it will cut about 1,500 jobs over the remainder of this year as part of a restructuring plan to save about $475 million next year.

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Brea Natural Foods Supplier Acquired

Brea-based natural food products distributor Nature’s Best has agreed to be acquired by KeHE Distributors LLC in Naperville, Ill.

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Real Mex CEO Departs

Cypress-based Real Mex Restaurants Inc. President and Chief Executive Charly Robinson has left the company according to reports.

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Kia Recalls 51,641 Vehicles

Kia Motors Corp. is recalling some 51,641 Soul vehicles produced from July 21, 2013 through Jan. 17, 2014 because of potential loss of steering, according to a letter automaker sent to National Highway Traffic Safety Administration.

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Vans’ Revenue Up 21%

Vans Inc.’s revenue rose 21%, its parent VF Corp. reported in its second quarter financials.

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Vans’ Revenue Up 21%

Vans Inc.’s revenue rose 21%, its parent VF Corp. reported in its second quarter financials.

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Kia Recalls 51,641 Vehicles

Kia Motors Corp. is recalling some 51,641 Soul vehicles produced from July 21, 2013 through Jan. 17, 2014 because of potential loss of steering, according to a letter automaker sent to National Highway Traffic Safety Administration.

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Midday Stock Roundup

The S&P 500 rose 0.78% to 1,973.30 in midday trading Friday.

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OC Adds Jobs, Unemployment Rate Ticks Up

The unemployment rate in Orange County rose to 5.2% even as the county added 6,700 jobs in June.

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Investor Targets Yard House Parent

Starboard Value L.P. in New York City increased its ownership in Orlando-based Darden Restaurants Inc.to 7.1% and criticized its planned $2.1 billion sale of the Red Lobster chain.

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Corinthian Monitor Named

Law firm Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates and former U.S. Attorney Patrick Fitzgerald were named as the independent monitors for Corinthian Colleges Inc.’s wind-down of its operations.

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Taco Bell Revenues Down

Irvine-based Taco Bell Corp. saw a 3% dip in revenue in the second quarter compared with a year earlier, according to results from parent Yum Brands Inc.

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Midday Stock Roundup

The S&P 500 fell 0.55% to 1,970.60 in midday trading Thursday.

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Irvine Publisher Gets Pet Websites

I-5 Publishing LLC in Irvine has acquired San Francisco-based Say Media Inc.’s Dogster and Catster websites, which attract a combined 2.5 million visitors each month, according to the company.

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Ensign Group Gets Four L.A. Facilities

Mission Viejo-based nursing home operator Ensign Group Inc. has agreed to acquire four care facilities in Los Angeles County from Keiro Senior HealthCare on undisclosed terms.