Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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Volcom CFO Jumps to 5.11 Tactical

5.11 Tactical, Irvine-based gear and clothing manufacturer, nabbed a new chief financial officer from Costa Mesa-based Volcom Inc.

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Hyundai Introduces Concept Truck

Hyundai Motor America Inc. revealed a crossover truck concept car Monday at the North American International Auto Show in Detroit.

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BBQ Chain Expands in OC

Dickey’s Barbecue Pit said it plans to have 10 locations in Orange County within about six months, as current operators seek to lease space and new franchise agreements are added in key cities.

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NB Company Invests in Biotech Firm

Newport Beach-based CureDuchenne Ventures LLC said today that it invested $1 million in Capricor Therapeutics Inc. to fund research for treating heart disease associated with Duchenne muscular dystrophy.

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Midday Stock Roundup

The S&P 500 was down 0.7% to 2,029.82 in midday trading.

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Allergan, Actavis Deal Advances

Irvine-based Allergan Inc. and Dublin-based Actavis Plc said the U.S. Federal Trade Commission granted early termination of a federal regulatory waiting period and set a ‘shareholder-of-record’ date for the $68 billion acquisition of Allergan by Actavis.

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Wanted: Best Places to Work in OC

CALL FOR ENTRIES: Website set to take entries until March 20

Is your workplace great? We want to know.

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Call Center Operator Names CFO

Alorica, Inc. in Irvine named James Molloy chief financial officer, replacing Jack Pollock, who has been with the company since it was founded in 1999.

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Midday Stock Roundup

The S&P 500 was down 0.6% to 2,048.86 in midday trading.

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Wet Seal Exploring Bankruptcy

Wet Seal Inc. has hired restructuring lawyers and may file for bankruptcy as early as next week, sources familiar with the matter told the Wall Street Journal.

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Incipio Gets $55M Financing

Irvine-based mobile device accessories maker Incipio Technologies Inc. secured $55 million in financing from Monroe Capital LLC.

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Wienerschnitzel Parent Shutters Fast Casual Restaurant

Irvine-based Galardi Group Inc. closed its Two Madres Mexican Kitchen restaurant in Mission Viejo and ended its foray into fast-casual Mexican-style food, according to a news report.

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Busch, Caspino to Split

The heads of Irvine-based law firm Busch & Caspino have announced they are forming two separate law firms.

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Hissin to Sapphire Culinary

Sapphire Culinary Group in Laguna Beach named Dieter Hissin its director of operations, a new position, the company said.

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Midday Stock Roundup

Major indices were higher in midday trading on a decline in jobless claims and mortgage rates.

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Impac Buys CashCall’s Mortgage Business

Irvine-based Impac Mortgage Holdings Inc. has agreed to acquire the mortgage operations of CashCall Inc.

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Habit Plans Middle East Expansion

Irvine-based Habit Restaurants Inc. said it signed its first international expansion deal, an agreement with an area franchisor in the Middle East to develop 50 restaurants in six countries over the next 10 years.

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Hueston Leaves Irell for Own Firm

Trial attorneys John Hueston and Brian Hennigan have left Irell & Manella LLP and launched Hueston Hennigan LLP.

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Midday Stock Roundup

The S&P 500 was up 1.1% to 2,025.20 in midday trading.

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Broadcom Notes Design Wins at CES

Broadcom Corp. announced two design wins this week at International CES in Las Vegas and also showcased several chipsets geared for the automotive, cable and home networking markets.

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Wet Seal Closes 338 Stores, Lays Off 3,695

Wet Seal Inc. said it is closing 338 stores and laying off 3,695 full and part-time employees “after assessing its overall financial condition” and failing “to successfully negotiate meaningful concessions from its landlords.”

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Alliant Buys Employee Benefits Firm

Newport Beach-based Alliant Insurance Services Inc. has acquired American Benefits Consulting in New York.

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UCI, CSUF, Brandman Get Nods for Online Programs

Three Orange County universities have made the most recent lists of online degree programs from U.S. News & World Report.

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OC Investor Takes Fast-Casual Stake

An Orange County investor has taken “a significant minority stake” in a fast-casual restaurant chain based in the Silicon Valley, a spokesperson for the investor said.

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Deals for Ensign in Three States

Mission Viejo-based Ensign Group Inc. has bought several skilled nursing, home healthcare and hospice operations.