Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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Judge Approves Sale of Wet Seal

U.S. Bankruptcy Court Judge Christopher S. Sontchi today in Delaware approved the sale of Wet Seal Inc. to private equity firm Mador Lending LLC.

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Irvine Printer Maker Names CEO

Industry veteran Werner Heid has been named chief executive of Irvine-based Printronix Inc.

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Pyott Gets $534M on Allergan Sale

David Pyott, the former chief executive of Irvine-based Allergan Inc., converted stock to a total of $534 million in cash following Allergan’s $72.5 billion acquisition by Actavis Plc, according to a Securities and Exchange Commission filing.

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Midday Stock Roundup

The S&P 500 declined 0.4% to 2,058.38 in midday trading.

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Taco Bell Japan to Open

Irvine-based Taco Bell Corp. has set an April 21 opening for its first restaurant in Japan under a franchising deal with Tokyo-based Asrapport Dining Co. Ltd., according to the Wall Street Journal.

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Confie in 3 Deals

Huntington Beach-based Confie Seguros Insurance Services has acquired three brokerages on the East Coast.

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CM Investor Buys EB-5 Regional Center

Costa Mesa-based real estate developer and private equity firm PDC Capital Group LLC has acquired ZGlobal Southern California EB-5 Investment Regional Center.

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JWA Permits Two Ride Share Firms

John Wayne Airport issued permits Monday afternoon for two “transportation network companies”—an industry term for taxi-like, ride-sharing operators such as Uber—to operate there, an airport spokesperson said.

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Midday Stock Roundup

The S&P 500 was down 0.3% to 2,079.61 in midday trading.

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Ten Schools on Federal Watch List

Ten local colleges are on a list of institutions under federal financial monitoring, according to the U.S. Department of Education.

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DOT Approves New JWA-Mexico Flights

The U.S. Department of Transportation approved Seattle-based Alaska Airlines to begin flights between Mexico and John Wayne Airport in October.

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JWA Permits Two Ride Share Firms

John Wayne Airport issued permits this afternoon for two “transportation network companies”—an industry term for taxi-like, ride-sharing operators such as Uber—to operate there, an airport spokesperson said.

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CM Investor Buys EB-5 Regional Center

Costa Mesa-based real estate developer and private equity firm PDC Capital Group LLC has acquired ZGlobal Southern California EB-5 Investment Regional Center.

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Midday Stock Roundup

Major stock indices rose in midday trading on confidence in the housing market and equity deals in the healthcare market and in Europe.

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CHOC Takes Stake in Innovation Institute

The Innovation Institute in La Palma, founded with an investment from Irvine-based St. Joseph Health, said today that Children’s Hospital of Orange County has become its third member and investor.

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Midday Stock Roundup

The S&P 500 was up 0.1% to 2,058.19 in midday trading.

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Mooney Out, McKnight Back to Quiksilver Chair

Quiksilver Inc. shares were down 12% to $1.95 and a market value of about $330 million in midday trading Friday as the news spread of the shakeup in the company’s top echelons.

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UCI Stem Cell Researcher Gets $5M

A University of California-Irvine researcher has been awarded $5 million to develop stem cell treatments for Huntington’s disease, the university said.

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Ruby’s Founder Steps Back

Doug Cavanaugh has stepped back from day-to-day operations at Irvine-based Ruby Restaurant Group, the retro burger chain he founded 33 years ago.

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Midday Stock Roundup

The S&P 500 was up 0.2% to 2,065.75 in midday trading.

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PE Firm Backs Water Treatment Company

Anaheim Hills-based investment firm Metrix Capital Group LLC has provided an undisclosed amount of growth capital to Superior Water Technologies Inc. in Irvine.

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PacSun Results Up, Shares Down

Pacific Sunwear of California Inc. beat analysts’ expectations for the fourth quarter, which ended Jan. 31, before its stock fell about 2% to $2.82 and a market value of about $195 million in midday trading Thursday

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Midday Stock Roundup

Major stock indices declined in midday trading on a market sell-off in technology stocks.

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Kofax Sells for $1B

Shares of Kofax Ltd. soared in midday trading today to a market value of about $960 million after the Irvine-based software maker said yesterday it would be sold for $1 billion to Lexmark International Inc. in Lexington, Ky.

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Kia to Sell Soul EV Beyond California

Irvine-based Kia Motors America Inc. will start selling its Soul EV in Georgia, Texas, Oregon, Washington and Hawaii, a move that comes a few months after the launch of the electric vehicle in California.