Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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PacSun BK Auction Canceled

The bankruptcy auction for assets of Pacific Sunwear of California Inc. in Anaheim has been canceled, with San Francisco-based private equity firm Golden Gate Capital now set to acquire all of the retailer’s assets.

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Dana Point DMO to Hire Chief

Visit Dana Point plans to hire an executive director by summer’s-end, according to Board Chairman Jim Samuels, general manager of Laguna Cliffs Marriott Resort & Spa.

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El Pollo Loco Signs Tucson Franchisee

Costa Mesa-based El Pollo Loco Holdings Inc. signed PLM Restaurants LC in Ogden, Utah to open six new sites in Tucson, Ariz., by August 2019, and to buy the chain’s two existing company-owned sites there.

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El Pollo Loco Signs Tucson Franchisee

Costa Mesa-based El Pollo Loco Holdings Inc. signed PLM Restaurants LC in Ogden, Utah to open six new sites in Tucson, Ariz., by August 2019, and to buy the chain’s two existing company-owned sites there.

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Dana Point DMO to Hire Chief

Visit Dana Point plans to hire an executive director by summer’s-end, according to Board Chairman Jim Samuels, general manager of Laguna Cliffs Marriott Resort & Spa.

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Rehab Hospital Opens in Aliso Viejo

AAC Holdings Inc. said today it opened Laguna Treatment Hospital in Aliso Viejo.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,070.73.

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OC Unemployment Down Again

Orange County’s unemployment rate was down to 3.6% in May from a revised 3.9% in April as employers added 11,700 jobs.

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Cuts at PIMCO

Newport Beach-based asset management firm Pacific Investment Management Co. has cut 68 jobs, or about 3% of its 2,300 workers companywide.

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Payoff Raises $47 Million

Costa Mesa-based consumer financial services firm Payoff has raised about $47 million from 56 investors in a round expected to raise about $65 million, according to a Securities and Exchange Commission document.

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Ad Agency Adds Exec

Huntington Beach-based Grupo Gallegos created a new management post to be shared between an in-house executive and a new hire, effective July 18.

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Johnny Rockets Gets 1st Drive-Thru

Lake Forest-based restaurant chain Johnny Rockets Group Inc. opened its first-ever drive-thru, a franchised location in North Carolina.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,068.45.

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New CEO for Battery Maker

Former Broadcom Corp. executive Robert Rango has been named chief executive of Irvine-based battery maker Enevate Corp.

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Goodman Birtcher Gets 133 Acres

Irvine-based developer Goodman Birtcher has bought a pair of massive distribution centers in Los Angeles County.

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QLogic Sold for $1B

Shares of Aliso Viejo-based networking equipment maker QLogic Corp. rose 10% after the company said it would be acquired for about $1 billion by Silicon Valley chipmaker Cavium Inc.

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,080.29.

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Newport Beach PE Firm Buys in NY

Newport Beach-based private equity firm Kodiak Capital Group LLC has agreed to purchase $2 million in stock in Burn Entertainment Corporation, a New York media entertainment company that focuses on cannabis.

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PacMerc Joins Index

Costa Mesa-based Pacific Mercantile Bancorp will join the Russell 3000 Index after the market opens on June 27.

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Samuelis Give $10M to UCLA

The Samueli Foundation in Corona del Mar has given $10 million to the Henry Samueli School of Engineering and Applied Sciences at University of California-Los Angeles.

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Terumo Buys Aliso Device Maker

Aliso Viejo-based Sequent Medical Inc. has been acquired for $280 million by Japan’s Terumo Corp.

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Midday Stock Roundup

The S&P 500 was down 0.5% in midday trading to 2,069.00.

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Auto Dealer Insurer Names CEO

Irvine-based automobile-dealership insurer SouthWest Dealer Services named Vernon Leake as chief executive officer.

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Pacific Mercantile’s COO Resigns

Costa Mesa-based Pacific Mercantile Bancorp Inc. said that Chief Operating Officer Bob Sjogren has resigned and will leave the holding company, the bank and subsidiary PM Asset Resolution Inc. on June 17.

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UCI Honored for Off-Campus Work

The Association of California Cities-Orange County recently honored the University of California-Irvine with a Golden Hub of Innovation award for its “Fifty for 50 Campus Challenge: A Celebration of Community Engagement at UCI.”