OC BUSINESS JOURNAL DAILY NEWS

Midday Stock Roundup

U.S. stocks rebounded on Friday, following steep drops in the prior two trading sessions.

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OC’s 2018 IPO Tab Is Tiny; Just 3 Listings

FINANCE: Urovant broke the slump; will others follow?

There are several ways to parse the paltry number of Orange County companies going public this year, a total of three initial public offerings reaping relatively meager proceeds of about $210 million combined.

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Midday Stock Roundup

The S&P 500 was down 0.6% to 2,769.31.

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Check, Please. Fund Manager Has Unusual Fee Structure

FINANCE: Firm takes cut only after making profit

Steven Check believes he owns the most unusual investment firm in Southern California.

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OC 500: Steve Schulze

Wife, Alexis, fellow OC 500er … multiple honoree, Business Journal events … told audience Alexis axed his idea to add beef jerky at Nekter … $60M revenue, 850 employees … pushing 100 locations … added franchising after first resisting … two dogs … backs No Kid Hungry … herorole model Richard Branson … as kid wanted to be a CEO … three words ‘curiosity, determination, stick-to-it-ness’

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Midday Stock Roundup

Indexes were down sharply on a surge in Treasury yields and declines in technology stocks.

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Chargers’ Spanos Dies

Los Angeles Chargers majority owner Alexander Gus Spanos died Tuesday morning. He was 95.

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Microsoft May Buy Irvine Gaming Studio

Irvine-based independent gaming studio Obsidian Entertainment Inc. is set to be sold to tech giant Microsoft Corp., according to published reports.

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Microsemi Execs Sue Microchip

Ousted Microsemi Corp. Chief Executive James Peterson and three of his former executives are suing Microchip Technology Inc. and its executives for alleged slander, libel and unfair business practices.

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Midday Stock Roundup

The S&P 500 fell 0.1% in midday trading to 2,880.64.

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Mid-Rise Revolution

Spectrum Office Push Nears $800M for Irvine Co.

The largest office park in the Irvine Spectrum is getting larger, as is the portfolio of Orange County’s dominant real estate company.

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OC 500: Thomas Brisbin

Took over 2007 … shares plummeted 90% over next two years … bought energy consultancy 2008 that in 2016 was 68% of revenue … stock up 30-fold five years … targeting $1T US electric grid modernization … utilities for

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Obit: Com RE Exec Lutton

Mike Lutton, a fixture in the local commercial real estate industry for 30 years, has died; he was 62.

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Midday Stock Roundup

The S&P 500 fell 0.7% in midday trading to 2,866.17.

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Vans Plan: $5B or Bust

APPAREL: Sales push for V.F. Corp.’s No. 1

Vans might soon need a bigger skate pool at its Costa Mesa headquarters if its executives’ brash proclamations of corporate growth over the next five years come to fruition.

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OC 500: Scott Absher

In current role about 3 years … shortterm temp agency via app to restaurants … $12M IPO mid-2017 … Reg A+ for firms raising under $50M … OC IPOs that way this year include OC 500’s Jim Reynolds … ShiftPixy: $80M market cap … Absher, co-founder Stephen Holmes have 88% of shares … IPO money backed tech work, expansion

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Vizio Reaches $17M Settlement in TV Spying Lawsuit

Vizio Inc. has reached a $17 million preliminary settlement related to a class action lawsuit filed in Santa Ana in 2016 that alleged the Irvine-based company tracked the viewing habits and demographic information of its smart TV viewers and sold that data.

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Midday Stock Roundup

Indexes were lower today on sales of tech stocks and higher Treasury bond yields.

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OC 500: Damon Shelly

$750M revenue … includes fifth-largest OC dealership, Irvine BMW’s $234M; 4,500 new, used cars sold … 35 car sellers, 100 employees … seven dealer and Signal Hill-based Dealers’ Choice Auto Auction … bought Jaguar dealer, San Diego, Lexus in Riverside 2016 … also sells Rolls-Royce in OC … former chair, BMW national dealer group

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Taco Bell Operator Plans 50 in Australia

Collins Foods Ltd. will open 50 Taco Bell locations in three years in three states in Australia.

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Mover-Upper: Irvine Pacific Sells Pricier Homes

REAL ESTATE: Other builders wary of land cost?

In a notable change in corporate strategy, Irvine Pacific LP, Orange County’s most active homebuilder for several years, is moving into higher-priced offerings on the Irvine Ranch.

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Blizzard Cofounder Cedes President Role

Blizzard Entertainment Inc. cofounder and President Mike Morhaime is ceding his executive role to “World of Warcraft” Executive Producer J. Allen Brack.

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Midday Stock Roundup

The S&P 500 fell 1.1% to 2894.54.

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Cloudvirga’s Latest Innovation: New HQ

University Research Park Spot Will Double Presence

Irvine-based startup Cloudvirga Inc. is planning to double in size with a move to new headquarters at University Research Park

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OC 500: Lori Torres

Innovator of the Year honoree … ex- Irvine Co. exec … launched ‘smart’ locker provider 2013 … $1M Tech Coast Angels 2014, $15M venture capital 2016 … 200% YOY revenue growth through Q1 2017 … took 26K SF in May, up from 1,800 two years ago … added refrigerated lockers in June to tap grocery, food delivery … 38 states, 80 workers … 5M packages to-date

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