OC BUSINESS JOURNAL DAILY NEWS

Fire Roasted: Real Mex Price Likely Sub-$100M

RESTAURANTS: Cost-cutting, revenue attempts, go only so far

When Real Mex Restaurants Inc. sells again, it’ll be for less than $100 million, considering the decade of woes at the Cypress-based casual dining chain:

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OC 500: Adrian Griggs

Promoted to role 2017 … previously CFO at OC’s largest private co. by revenue at $9B … replaced as CFO by Darryl Button … duties include PacLife’s securities brokerage, Pacific Select Distributors; asset manager, Pacific Asset Advisors … nearly 25 years, parent co. … previously Deloitte … reports to PacLife CEO James Morris, fellow OC 500er … bachelor’s, UCSB

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,774.86.

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Billionaire Icahn Takes Allergan Stake

Following a letter from activist investors Appaloosa LP in Miami, Fla., and New York-based Senator Investment Group LP to Allergan PLC’s board of directors that recommends changes—including separating the chief executive and chairman roles—billionaire Carl Icahn also threw his hat in the game, taking an undisclosed position in Allergan, according to Bloomberg.

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ShiftPixy Places $9M Debt

ShiftPixy Inc. raised $9 million in gross proceeds from a June 4 private placement of 8% senior secured convertible notes with institutional investors.

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7-Eleven Testing Can By Irvine Inventor

FOOD: Century of bottling innovation could bear fruit

Beta testing of an Irvine inventor’s new can in 7-Eleven locations in Los Angeles is the latest chapter in a 25-year saga to bring self-cooling technology to consumers worldwide.

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OC 500: Wendy Hales

Former political maven … now executive assistant to OC 500’s Julia Argyros, Hale’s role model and ‘strongest person I know’ … biggest accomplishment 2017: working on Segerstrom’s Julianne and George Argyros Plaza and Fountain … recalls Prince’s ‘Purple Rain’ as music fave, back in the day … life turning point: ‘moving home from Spain to marry the love of my life’

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,763.44.

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OC 500: Shannon Eusey

Women in Business honoree … cofounded firm 2002 with dad, Garth Flint, who was co-founder of Canterbury Consulting … UCLA MBA, wrote Beacon Pointe business plan … professor expressed doubts, gave it B … keeps

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‘Big Deal,’ Brandman Lands Walmart Partnership

EDUCATION: One of three picked for subsidized tuition

Brandman University’s business is providing higher education to working adults, partnering with over 2,700 companies like Irvine Co. and Blizzard Entertainment.

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JWA Gets Two For Texas

John Wayne Airport has two new destinations.

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Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,760.40.

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Duran Duran

Doubling Assets Every Three Years, NB Adviser Seeks $1B Valuation

Even Joe Duran has arguments about money with his wife, Jennifer.

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OC 500: Adon Panattoni

One of largest privately held U.S. industrial developers … 75M SF globally past five years … last big local project multibuilding Anaheim Concourse on 60 acres at ex- Boeing base … smaller OC projects various stages … recent work in Vegas suburbs; August deal to buy 62 acres at Richmond, Va., port facilities to build 1M SF distribution space … son of company founder, chairman Carl Panattoni

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Supervisors OK JetSuiteX

JetSuiteX can begin flying from John Wayne Airport after the Board of Supervisors today unanimously approved the plan in “the first instance of a regularly scheduled commercial user operating from a location other than the Thomas F. Riley Terminal” according to the board’s agenda item.

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ChromaDex Appoints CMO

ChromaDex Corp. (Nasdaq: CDXC) named Lisa Bratkovich chief marketing officer, effective June 4.

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PHG Takes Two Miraval Vets

Pacific Hospitality Group in Irvine named Paul McCormick president and chief operating officer and Tom Walston corporate director of information technology and business intelligence.

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Irvine Scientific Now Fujifilm Subsidiary

Fujifilm Corp. President Kenji Sukeno said the company completed its earlier-announced acquisition of two cell culture media businesses, Irvine Scientific Sales Company Inc. in Santa Ana and Is Japan Co. Ltd. in Tokyo, from Japanese oil and metal conglomerate JXTG Holdings.

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PHG’s Kramer Departs; Hotel Runner Gets VP

Pacific Hospitality Group Chief Investment Officer Kory Kramer left the Irvine-based hotel owner-operator to start a hospitality venture. He’s now a consultant with PHG, which named a new vice president of investments to take on some of his former responsibilities.

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Midday Stock Roundup

The S&P 500 was unchanged in midday trading at 2,746.89.

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OC 500: Reza Jahangiri

Started reverse mortgage firm 2004; now largest U.S. provider … $216M 2016 revenue; 1,200 workers … Forbes: his stake worth $100M … portfolio co. SF PE firm Friedman Fleischer & Lowe LLC … cochairs industry association … AAG celebrity pitchers: Peter Graves, Fred Thompson, Tom Selleck … wife actress Kate Levering, ‘Drop Dead Diva’ … skateboarding, guitarplaying son of Iranian refugees

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Dendreon Scales Local And International Presence

HEALTHCARE: With Sanpower as owner, plans China facilities

Dendreon Pharmaceuticals LLC is emerging from last year’s sale, its second in three years, stronger than ever, with near-term international expansion in sight. Chief Executive James “Jim” Caggiano said its parent company, Nanjing-based Chinese conglomerate Sanpower Group Co. Ltd., will set up manufacturing facilities in Hong Kong and China.

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With Hydrogen, Jannard Shoots for a Three-Peat

MEDIA: August launch eyed for 3D, 4-view phone

A row of black booths lined the soundstage at RED Studios Hollywood on a recent Saturday, each manned by an attendant guarding a yet-to-be-released Hydrogen One. The smartphone, developed by Irvine-based Red Digital Cinema Camera Co., enables users to see multidimensional content without headgear—Hydrogen’s screen acts as the proverbial fourth wall, behind which layered imagery immerses the viewer into 4-view, holographic scenes.

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OC 500: Jim Jannard

Not so much reclusive as choosy— eschews limelight, active on company forum … launches global-reaching concepts from top-flight tech, selects time, place, way of presenting … summer 2017 teased, then announced his new smartphone, Hydrogen One … $1,200 to $1,600 price tag … He holds 90 patents … founded Oakley Inc., sold for $2.1B … Business Journal OC’s Wealthiest, $3.2B

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Sabra Sells 12 Facilities for $134M

Irvine-based Sabra Health Care REIT Inc. (Nasdaq: SBRA) completed the previously announced sale of 12 facilities leased to Genesis Healthcare Inc. (NYSE: GEN) for $134 million.

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